Disclose Flood Risk to Buyers

Section 1. Subdivision 2 of section 462 of the real property law, as added by chapter 456 of the laws of 2001, is amended to read as follows:

2. The following shall be the disclosure form:

PROPERTY CONDITION DISCLOSURE STATEMENT

NAME OF SELLER OR SELLERS:

PROPERTY ADDRESS:

THE PROPERTY CONDITION DISCLOSURE ACT REQUIRES THE SELLER OF RESIDEN- TIAL REAL PROPERTY TO CAUSE THIS DISCLOSURE STATEMENT OR A COPY THEREOF TO BE DELIVERED TO A BUYER OR BUYER'S AGENT PRIOR TO THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE.

PURPOSE OF STATEMENT: THIS IS A STATEMENT OF CERTAIN CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO THE SELLER. THIS DISCLOSURE STATEMENT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR BY ANY AGENT REPRESENTING THE SELLER IN THIS TRANSACTION. IT IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR TESTS AND THE BUYER IS ENCOURAGED TO OBTAIN HIS OR HER OWN INDEPENDENT PROFESSIONAL INSPECTIONS AND ENVIRONMENTAL TESTS AND ALSO IS ENCOURAGED TO CHECK PUBLIC RECORDS PERTAINING TO THE PROPERTY.

A KNOWINGLY FALSE OR INCOMPLETE STATEMENT BY THE SELLER ON THIS FORM MAY SUBJECT THE SELLER TO CLAIMS BY THE BUYER PRIOR TO OR AFTER THE TRANSFER OF TITLE. [IN THE EVENT A SELLER FAILS TO PERFORM THE DUTY PRESCRIBED IN THIS ARTICLE TO DELIVER A DISCLOSURE STATEMENT PRIOR TO THE SIGNING BY THE BUYER OF A BINDING CONTRACT OF SALE, THE BUYER SHALL

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD14518-05-0

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RECEIVE UPON THE TRANSFER OF TITLE A CREDIT OF FIVE HUNDRED DOLLARS AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL PROPER- TY.]

"RESIDENTIAL REAL PROPERTY" MEANS REAL PROPERTY IMPROVED BY A ONE TO FOUR FAMILY DWELLING USED OR OCCUPIED, OR INTENDED TO BE USED OR OCCU- PIED, WHOLLY OR PARTLY, AS THE HOME OR RESIDENCE OF ONE OR MORE PERSONS, BUT SHALL NOT REFER TO (A) UNIMPROVED REAL PROPERTY UPON WHICH SUCH DWELLINGS ARE TO BE CONSTRUCTED OR (B) CONDOMINIUM UNITS OR COOPERATIVE APARTMENTS OR (C) PROPERTY ON A HOMEOWNERS' ASSOCIATION THAT IS NOT OWNED IN FEE SIMPLE BY THE SELLER.

INSTRUCTIONS TO THE SELLER:

(a) ANSWER ALL QUESTIONS BASED UPON YOUR ACTUAL KNOWLEDGE.

(b) ATTACH ADDITIONAL PAGES WITH YOUR SIGNATURE IF ADDITIONAL SPACE IS REQUIRED.

(c) COMPLETE THIS FORM YOURSELF.

(d) IF SOME ITEMS DO NOT APPLY TO YOUR PROPERTY, CHECK "NA" (NON-AP- PLICABLE). IF YOU DO NOT KNOW THE ANSWER CHECK "UNKN" (UNKNOWN).

SELLER'S STATEMENT: THE SELLER MAKES THE FOLLOWING REPRESENTATIONS TO THE BUYER BASED UPON THE SELLER'S ACTUAL KNOWLEDGE AT THE TIME OF SIGN- ING THIS DOCUMENT. THE SELLER AUTHORIZES HIS OR HER AGENT, IF ANY, TO PROVIDE A COPY OF THIS STATEMENT TO A PROSPECTIVE BUYER OF THE RESIDEN- TIAL REAL PROPERTY. THE FOLLOWING ARE REPRESENTATIONS MADE BY THE SELLER AND ARE NOT THE REPRESENTATIONS OF THE SELLER'S AGENT.

GENERAL INFORMATION

1. HOW LONG HAVE YOU OWNED THE PROPERTY?

2. HOW LONG HAVE YOU OCCUPIED THE PROPERTY?

3. WHAT IS THE AGE OF THE STRUCTURE OR STRUCTURES? NOTE TO BUYER--IF

THE STRUCTURE WAS BUILT BEFORE 1978 YOU ARE ENCOURAGED TO INVESTI-

GATE FOR THE PRESENCE OF LEAD BASED PAINT.

4. DOES ANYBODY OTHER THAN YOURSELF HAVE A LEASE, EASEMENT OR ANY

OTHER RIGHT TO USE OR OCCUPY ANY PART OF YOUR PROPERTY OTHER THAN

THOSE STATED IN DOCUMENTS AVAILABLE IN THE PUBLIC RECORD, SUCH AS

RIGHTS TO USE A ROAD OR PATH OR CUT TREES OR CROPS[.]? YES NO UNKN

NA

5. DOES ANYBODY ELSE CLAIM TO OWN ANY PART OF YOUR PROPERTY? YES NO

UNKN NA (IF YES, EXPLAIN BELOW)

6. HAS ANYONE DENIED YOU ACCESS TO THE PROPERTY OR MADE A FORMAL LEGAL

CLAIM CHALLENGING YOUR TITLE TO THE PROPERTY? YES NO UNKN NA (IF

YES, EXPLAIN BELOW)

7. ARE THERE ANY FEATURES OF THE PROPERTY SHARED IN COMMON WITH

ADJOINING LAND OWNERS OR A HOMEOWNERS ASSOCIATION, SUCH AS WALLS,

FENCES OR DRIVEWAYS? YES NO UNKN NA (IF YES DESCRIBE BELOW)

8. ARE THERE ANY ELECTRIC OR GAS UTILITY SURCHARGES FOR LINE EXTEN-

SIONS, SPECIAL ASSESSMENTS OR HOMEOWNER OR OTHER ASSOCIATION FEES

THAT APPLY TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

9. ARE THERE CERTIFICATES OF OCCUPANCY RELATED TO THE PROPERTY? YES

NO UNKN NA (IF NO, EXPLAIN BELOW)

ENVIRONMENTAL

NOTE TO SELLER - IN THIS SECTION, YOU WILL BE ASKED QUESTIONS REGARD- ING PETROLEUM PRODUCTS AND HAZARDOUS OR TOXIC SUBSTANCES THAT YOU KNOW TO HAVE BEEN SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON THE PROPERTY OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY. PETROLEUM PRODUCTS MAY

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INCLUDE, BUT ARE NOT LIMITED TO, GASOLINE, DIESEL FUEL, HOME HEATING FUEL, AND LUBRICANTS. HAZARDOUS OR TOXIC SUBSTANCES ARE PRODUCTS THAT COULD POSE SHORT- OR LONG-TERM DANGER TO PERSONAL HEALTH OR THE ENVIRON- MENT IF THEY ARE NOT PROPERLY DISPOSED OF, APPLIED OR STORED. THESE INCLUDE, BUT ARE NOT LIMITED TO, FERTILIZERS, PESTICIDES AND INSECTI- CIDES, PAINT INCLUDING PAINT THINNER, VARNISH REMOVER AND WOOD PRESERVA- TIVES, TREATED WOOD, CONSTRUCTION MATERIALS SUCH AS ASPHALT AND ROOFING MATERIALS, ANTIFREEZE AND OTHER AUTOMOTIVE PRODUCTS, BATTERIES, CLEANING SOLVENTS INCLUDING SEPTIC TANK CLEANERS, HOUSEHOLD CLEANERS AND POOL CHEMICALS AND PRODUCTS CONTAINING MERCURY AND LEAD.

NOTE TO BUYER - IF CONTAMINATION OF THIS PROPERTY FROM PETROLEUM PRODUCTS AND/OR HAZARDOUS OR TOXIC SUBSTANCES IS A CONCERN TO YOU, YOU ARE URGED TO CONSIDER SOIL AND GROUNDWATER TESTING OF THIS PROPERTY.

10. [IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED FLOODPLAIN?

YES NO UNKN NA (IF YES, EXPLAIN BELOW)] IS ANY OR ALL OF THE

PROPERTY LOCATED WHOLLY OR PARTIALLY IN THE SPECIAL FLOOD HAZARD

AREA ("SFHA"; "100-YEAR FLOODPLAIN") ACCORDING TO FEMA'S CURRENT

FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO UNKN NA (IF YES,

EXPLAIN BELOW)

11. IS ANY OR ALL OF THE PROPERTY LOCATED WHOLLY OR PARTIALLY IN A

MODERATE RISK FLOOD HAZARD AREA ("500-YEAR FLOODPLAIN") ACCORDING

TO FEMA'S CURRENT FLOOD INSURANCE RATE MAPS FOR YOUR AREA? YES NO

UNKN NA (IF YES, EXPLAIN BELOW)

12. IS THE PROPERTY SUBJECT TO ANY REQUIREMENT UNDER FEDERAL LAW TO

OBTAIN AND MAINTAIN FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN

NA (IF YES, EXPLAIN BELOW)

HOMES IN THE SPECIAL FLOOD HAZARD AREA, ALSO KNOWN AS HIGH RISK

FLOOD ZONES, ON FEMA'S FLOOD INSURANCE RATE MAPS WITH MORTGAGES

FROM FEDERALLY REGULATED OR INSURED LENDERS ARE REQUIRED TO OBTAIN

AND MAINTAIN FLOOD INSURANCE. EVEN WHEN NOT REQUIRED, THE FEDERAL

EMERGENCY MANAGEMENT AGENCY (FEMA) ENCOURAGES HOMEOWNERS IN HIGH

RISK, MODERATE RISK, AND LOW RISK FLOOD ZONES TO PURCHASE FLOOD

INSURANCE THAT COVERS THE STRUCTURE(S) AND THE PERSONAL PROPERTY

WITHIN THE STRUCTURE(S).

13. HAVE YOU EVER RECEIVED ASSISTANCE, OR ARE YOU AWARE OF ANY PREVI-

OUS OWNERS RECEIVING ASSISTANCE, FROM THE FEDERAL EMERGENCY

MANAGEMENT ASSOCIATION (FEMA), THE U.S. SMALL BUSINESS ADMINIS-

TRATION (SBA), OR ANY OTHER FEDERAL DISASTER FLOOD ASSISTANCE FOR

FLOOD DAMAGE TO THE PROPERTY? YES NO UNKN NA (IF YES, EXPLAIN

BELOW)

FOR PROPERTIES THAT HAVE RECEIVED FEDERAL DISASTER ASSISTANCE, THE

REQUIREMENT TO OBTAIN FLOOD INSURANCE PASSES DOWN TO ALL FUTURE

OWNERS. FAILURE TO OBTAIN AND MAINTAIN FLOOD INSURANCE CAN RESULT

IN AN INDIVIDUAL BEING INELIGIBLE FOR FUTURE ASSISTANCE.

14. IS THERE FLOOD INSURANCE ON THE PROPERTY? YES NO UNKN NA (IF YES,

ATTACH A COPY OF THE POLICY)

15. HAVE YOU EVER FILED A CLAIM FOR FLOOD DAMAGE TO THE PROPERTY WITH

ANY INSURANCE PROVIDER, INCLUDING THE NATIONAL FLOOD INSURANCE

PROGRAM (NFIP)? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

[11.] 16. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED

WETLAND? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

[12.] 17. IS THE PROPERTY LOCATED IN AN AGRICULTURAL DISTRICT? YES

NO UNKN NA (IF YES, EXPLAIN BELOW)

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[13.] 18. WAS THE PROPERTY EVER THE SITE OF A LANDFILL? YES NO UNKN

NA (IF YES, EXPLAIN BELOW)

[14.] 19. ARE THERE OR HAVE THERE EVER BEEN FUEL STORAGE TANKS ABOVE

OR BELOW THE GROUND ON THE PROPERTY? YES NO UNKN NA IF YES,

ARE THEY CURRENTLY IN USE? YES NO UNKN NA LOCATION(S) ARE THEY

LEAKING OR HAVE THEY EVER LEAKED? YES NO UNKN NA (IF YES, EXPLAIN

BELOW)

[15.] 20. IS THERE ASBESTOS IN THE STRUCTURE? YES NO UNKN NA (IF YES,

STATE LOCATION OR LOCATIONS BELOW)

[16.] 21. IS LEAD PLUMBING PRESENT? YES NO UNKN NA (IF YES, STATE

LOCATION OR LOCATIONS BELOW)

[17.] 22. HAS A RADON TEST BEEN DONE? YES NO UNKN NA (IF YES, ATTACH A

COPY OF THE REPORT)

[18.] 23. HAS MOTOR FUEL, MOTOR OIL, HOME HEATING FUEL, LUBRICATING

OIL OR ANY OTHER PETROLEUM PRODUCT, METHANE GAS, OR ANY HAZARDOUS

OR TOXIC SUBSTANCE SPILLED, LEAKED OR OTHERWISE BEEN RELEASED ON

THE PROPERTY OR FROM THE PROPERTY ONTO ANY OTHER PROPERTY? YES NO

UNKN NA (IF YES, DESCRIBE BELOW)

[19.] 24. HAS THE PROPERTY BEEN TESTED FOR THE PRESENCE OF MOTOR FUEL,

MOTOR OIL, HOME HEATING FUEL, LUBRICATING OIL, OR ANY OTHER PETRO-

LEUM PRODUCT, METHANE GAS, OR ANY HAZARDOUS OR TOXIC SUBSTANCE?

YES NO UNKN NA (IF YES, ATTACH REPORT(S))

STRUCTURAL

[20.] 25. IS THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUC-

TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

[21.] 26. IS THERE ANY FIRE OR SMOKE DAMAGE TO THE STRUCTURE OR STRUC-

TURES? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

[22.] 27. IS THERE ANY TERMITE, INSECT, RODENT OR PEST INFESTATION OR

DAMAGE? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

[23.] 28. HAS THE PROPERTY BEEN TESTED FOR TERMITE, INSECT, RODENT OR

PEST INFESTATION OR DAMAGE? YES NO UNKN NA (IF YES, PLEASE ATTACH

REPORT(S))

[24.] 29. WHAT IS THE TYPE OF ROOF/ROOF COVERING (SLATE, ASPHALT,

OTHER.)? ANY KNOWN MATERIAL DEFECTS? HOW OLD IS THE ROOF? IS THERE

A TRANSFERABLE [WARRANTEE] WARRANTY ON THE ROOF IN EFFECT NOW? YES

NO UNKN NA (IF YES, EXPLAIN BELOW)

[25.] 30. ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING

STRUCTURAL SYSTEMS: FOOTINGS, BEAMS, GIRDERS, LINTELS, COLUMNS OR

PARTITIONS[.]? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

MECHANICAL SYSTEMS & SERVICES

[26.] 31. WHAT IS THE WATER SOURCE (CIRCLE ALL THAT APPLY - WELL,

PRIVATE, MUNICIPAL, OTHER)? IF MUNICIPAL, IS IT METERED? YES NO

UNKN NA

[27.] 32. HAS THE WATER QUALITY AND/OR FLOW RATE BEEN TESTED? YES NO

UNKN NA (IF YES, DESCRIBE BELOW)

[28.] 33. WHAT IS THE TYPE OF SEWAGE SYSTEM (CIRCLE ALL THAT APPLY -

PUBLIC SEWER, PRIVATE SEWER, SEPTIC OR CESSPOOL)? IF SEPTIC OR

CESSPOOL, AGE? ________ DATE LAST PUMPED? ________ FREQUENCY OF

PUMPING? ________ ANY KNOWN MATERIAL DEFECTS? YES NO UNKN NA (IF

YES, EXPLAIN BELOW)

[29.] 34. WHO IS YOUR ELECTRIC SERVICE PROVIDER? ________ WHAT IS THE

AMPERAGE? ________ DOES IT HAVE CIRCUIT BREAKERS OR FUSES?

________ PRIVATE OR PUBLIC POLES? ________ ANY KNOWN MATERIAL

DEFECTS? YES NO UNKN NA (IF YES, EXPLAIN BELOW)

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[30.] 35. ARE THERE ANY FLOODING, DRAINAGE OR GRADING PROBLEMS THAT

RESULTED IN STANDING WATER ON ANY PORTION OF THE PROPERTY? YES NO

UNKN NA (IF YES, STATE LOCATIONS AND EXPLAIN BELOW)

[31. DOES THE BASEMENT HAVE SEEPAGE THAT RESULTS IN STANDING WATER?

YES NO UNKN NA (IF YES, EXPLAIN BELOW)] 36. HAS THE STRUCTURE(S)

EXPERIENCED ANY WATER PENETRATION OR DAMAGE DUE TO SEEPAGE OR A

NATURAL FLOOD EVENT, SUCH AS FROM HEAVY RAINFALL, COASTAL STORM

SURGE, TIDAL INUNDATION OR RIVER OVERFLOW? YES NO UNKN NA (IF

YES, EXPLAIN BELOW)

ARE THERE ANY KNOWN MATERIAL DEFECTS IN ANY OF THE FOLLOWING (IF YES, EXPLAIN BELOW. USE ADDITIONAL SHEETS IF NECESSARY.):

[32.] 37. PLUMBING SYSTEM? YES NO UNKN NA

[33.] 38. SECURITY SYSTEM? YES NO UNKN NA

[34.] 39. CARBON MONOXIDE DETECTOR? YES NO UNKN NA

[35.] 40. SMOKE DETECTOR? YES NO UNKN NA

[36.] 41. FIRE SPRINKLER SYSTEM? YES NO UNKN NA

[37.] 42. SUMP PUMP? YES NO UNKN NA

[38.] 43. FOUNDATION/SLAB? YES NO UNKN NA

[39.] 44. INTERIOR WALLS/CEILINGS? YES NO UNKN NA

[40.] 45. EXTERIOR WALLS OR SIDING? YES NO UNKN NA

[41.] 46. FLOORS? YES NO UNKN NA

[42.] 47. CHIMNEY/FIREPLACE OR STOVE? YES NO UNKN NA

[43.] 48. PATIO/DECK? YES NO UNKN NA

[44.] 49. DRIVEWAY? YES NO UNKN NA

[45.] 50. AIR CONDITIONER? YES NO UNKN NA

[46.] 51. HEATING SYSTEM? YES NO UNKN NA

[47.] 52. HOT WATER HEATER? YES NO UNKN NA

[48.] 53. THE PROPERTY IS LOCATED IN THE

FOLLOWING SCHOOL DISTRICT UNKN

NOTE: BUYER IS ENCOURAGED TO CHECK PUBLIC RECORDS CONCERNING THE PROP- ERTY (E.G. TAX RECORDS AND WETLAND AND [FLOOD PLAIN] FEMA'S CURRENT FLOOD INSURANCE RATE MAPS)

THE SELLER SHOULD USE THIS AREA TO FURTHER EXPLAIN ANY ITEM ABOVE. IF NECESSARY, ATTACH ADDITIONAL PAGES AND INDICATE HERE THE NUMBER OF ADDI- TIONAL PAGES ATTACHED.