Prior approval of condominiums (Repealed)

No participating lender shall submit to CHFA an application for a CHFA mortgage loan on a unit in a condominium until the condominium has been approved in writing by CHFA. A request for approval of a condominium by CHFA shall be in writing and shall include the following: (a) appraisals of each unit type and of the entire condominium, (b) evidence of valid creation and existence of the condominium and the association of unit owners in the form of an attorney's opinion letter, (c) the current public offering statement of the declarant, (d) the declaration of condominium, including the by-laws of the unit owners' association, survey, floor plans and all exhibits and schedules, (e) current photographs of the condominium property, (f) statistics on the number of units conveyed and the number of unconveyed units that are vacant, and (g) evidence of adequate reserve funds of the unit owners' association.