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Occupancy fee

(4)

If the purchaser assumes interim occupancy of a proposed unit or is required to do so

under the agreement of purchase and sale, the declarant may charge the purchaser a monthly

occupancy fee which shall not be greater than the total of the following amounts:

1. Where applicable, interest calculated on a monthly basis on the unpaid balance of the

purchase price at the prescribed rate.

2. An amount reasonably estimated on a monthly basis for municipal taxes attributable to

the unit.

3. The projected monthly common expense contribution for the unit. 1998, c. 19, s. 80 (4).

Reserve fund contribution

(5)

If the declarant charges the purchaser a monthly occupancy fee for interim occupancy

of a proposed unit for residential purposes for longer than six months and the monthly occupancy

fee includes a projected contribution to the reserve fund of the corporation, then, with respect to

the occupancy fee for each month after the sixth month, the declarant shall hold in trust and remit

to the corporation upon registering the declaration and description the portion of the monthly

occupancy fee that represents the projected contribution to the reserve fund. 1998, c. 19,

s. 80 (5).

Rights and duties of declarant

(6)

If a purchaser assumes interim occupancy of a proposed unit, the declarant,

(a) shall provide those services that the corporation will have a duty to provide to owners

after the registration of the declaration and description that creates the unit;

(b) shall repair and maintain the proposed property and the proposed unit in the same

manner as the corporation will have a duty to repair after damage and maintain after

the registration of the declaration and description that creates the unit;

(c) has the same right of entry that the corporation will have after the registration of the

declaration and description that creates the unit;

(d) may withhold consent to an assignment of the right to occupy the proposed unit;

(e) may charge a reasonable fee for consenting to an assignment of the right to occupy the

proposed unit; and

(f) shall, within 30 days of the registration of the declaration and description that creates

the unit, notify the purchaser in writing of the date and instrument numbers of the

registration, unless within that time the purchaser receives a deed to the unit that is in

registerable form. 1998, c. 19, s. 80 (6).

Application of

Residential Tenancies Act, 2006

(7)

The rights and duties described in subsection (6) apply despite any provision to the

contrary in the

Residential Tenancies Act, 2006

. 1998, c. 19, s. 80 (11); 2006, c. 17, s. 248 (3).

Refund of municipal taxes

(8)

The declarant shall, on delivering to the purchaser a deed that is in registerable form or

as soon as is practicable after delivery, refund to the purchaser the portion of the monthly

occupancy fee that the purchaser has paid on account of municipal taxes attributable to the