(a) The disclosure set forth below, or a substantially equivalent document that displays the same information in a substantially similar format, shall be completed and delivered to a property owner before the property owner consummates a voluntary contractual assessment described in this chapter for purposes specified in paragraph (2) of subdivision (a) of Section 5898.20 or Section 5899, 5899.3, or 5899.4, or a special tax described in Section 53328.1 of the Government Code. The disclosure shall be provided to the property owner as a printed paper copy in no smaller than 12-point type, unless the property owner opts out of receiving a printed paper copy in writing by signing a printed paper document. A property owner who opts out of receiving a printed paper copy of the disclosure shall be provided with an electronic copy in accordance with the Uniform Electronic Transactions Act (Title 2.5 (commencing with Section 1633.1) of Part 2 of Division 3 of the Civil Code). A sample of the disclosure set forth below shall be maintained on a public internet website available to property owners. (b) (1) This section only applies to disclosure to a property owner who seeks to participate in a program established pursuant to this chapter for the purposes specified in paragraph (2) of subdivision (a) of Section 5898.20 or Section 5899, 5899.3, or 5899.4 for a residential property with four or fewer units. Financing Estimate and Disclosure Notice to Property Owner: Existing law requires that a printer paper copy of this document be provided to you before reviewing and signing, unless you opt out, in writing, to that printed copy by signing a printed paper document. If you opt out of receiving a printed paper copy of this disclosure, an electronic copy will be provided to you. The financing arrangement described below will result in an assessment against your property which will be collected along with your property taxes and will result in a lien on your property. You should read and review the terms carefully, and if necessary, consult with a tax professional or attorney. Customer Service Toll-Free telephone number and email: In the event you have a consumer complaint, questions about your financing obligations related to the contractual assessment or your contractual rights under the terms of this contract, you can contact either this toll-free telephone number or email address provided below and receive a response within 24 hours or one business day. Toll-Free telephone number: ___________ Customer service email address: ___________ Products and Costs Product costs (including labor/installation) $________ Description 1. 2. 3. Financing Costs Application fees and costs Prepaid Interest Other Costs Total Amount Financed $________ $________ $________ $________ Annual Percentage Rate (APR) Simple Interest Rate Total Annual Principal, Interest, and Administrative Fees ______% ______% $______ Note: If your property taxes are paid through an impound account, your mortgage lender may apportion the amount and add it to your monthly payment. See âOther Important Considerationsâ below Total Amount you will have paid over the life of the financing $________ Other Costs Appraisal Fees Bond related costs Annual Administrative fees Estimated closing costs Credit Reporting Fees Recording Fees $________ $________ $________ $________ $________ $________ Total Financing Costs and Closing Costs $________ Estimated Cash (out of pocket) to close $________ Other Terms Prepayment fee â» No â» Yes ______ Additional Information About These Financing Comparisons [Use this information to compare to other financing options] Over the term of the financing $________ Principal you will have paid off. $________ Amount of interest you have paid. $________ Amount of financing and other costs you will have paid. $________ Total you will have paid. Annual Percentage Rate ______% Total Interest Paid (as a percentage of all the payments you have made) ______% Other I
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