NY State Senate Bill 2013-S7070

Senate Bill S7070

2013-2014 Legislative Session

Relates to disclosing water impoundment structures in property condition disclosure statements

download bill text pdf

Archive: Last Bill Status - In Senate Committee Environmental Conservation Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Apr 23, 2014	referred to environmental conservation

2013-S7070 (ACTIVE) - Details

Current Committee:: Senate Environmental Conservation
Law Section:: Environmental Conservation Law
Laws Affected:: Amd §15-0507, En Con L; amd §462, RP L

2013-S7070 (ACTIVE) - Summary

Relates to disclosing water impoundment structures in property condition disclosure statements.

2013-S7070 (ACTIVE) - Sponsor Memo

                                BILL NUMBER:S7070

TITLE OF BILL:  An act to amend the environmental conservation law and
the real property law, in relation to property condition disclosure
statements

Purpose:

To provide notice to prospective purchasers of residential real
property of the presence of a traditional dam or other impoundment
structure which may subject them to liability under environmental
conservation law section 15-0507.

Summary of Specific Provisions:

Section 1: Amends environmental conservation law to authorize the
commissioner to promulgate regulations relating to disclosure in
connection with hazardous dams.

Section 2: Amends the property disclosure statement as described in
the Real Property law.

Section 3: This bill shall take effect immediately.

Existing Law:

Environmental conservation law section 15-0507 imposes liability on
the owners of dams for their safe operation and continued monitoring.
Section 462 of the Real property law lists the requirements of the
mandatory disclosure form that any seller of residential real property
must provide to prospective purchasers. Section 462 does not require
disclosure of the presence of such structures.

Justification:

Environmental conservation law § 15-0507, as interpreted by an
administrative law judge of the Department of Environmental
Conservation in 2014, imposes structural and functional liability on
any person determined to be an "owner" of land underneath or abutting
a dam, regardless of the owner's knowledge or intent that they take
possession of the dam structure. Such a situation was the source of
extensive litigation in New York State. There are over 5,600 dams in
New York State's dam inventory, 389 of which are classified as "Hazard
code C," meaning that they pose a risk to human safety downstream. The
owners of the structures are liable for their safe operation. This
bill aims to protect prospective land purchasers from unknowingly
purchasing land which imposes ECL Section 15-0507 liability upon them.

Fiscal Implications:

None.

Legislative History:

New Bill.

Effective Date:


Immediately.

2013-S7070 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7070

                            I N  S E N A T E

                             April 23, 2014
                               ___________

Introduced  by  Sen. MAZIARZ -- read twice and ordered printed, and when
  printed to be committed to the Committee on Environmental Conservation

AN ACT to amend the environmental conservation law and the real property
  law, in relation to property condition disclosure statements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  Subdivision  1  of  section  15-0507 of the environmental
conservation law, as amended by chapter 364 of  the  laws  of  1999,  is
amended to read as follows:
  1.  Any  owner of a dam or other structure which impounds waters shall
at all times operate and maintain said  structure  and  all  appurtenant
structures  in  a  safe  condition.  As used in this section and section
71-1109 of this chapter, "owner" means any person or local public corpo-
ration who owns, erects, reconstructs, repairs, maintains or uses a  dam
or  other  structure which impounds waters. The commissioner may promul-
gate regulations requiring any owner to prepare and implement  a  safety
program  for such dam or structure as necessary to safeguard life, prop-
erty or natural resources. Regulations governing the safety program  may
include requirements for inspections, monitoring, maintenance and opera-
tion,  emergency action planning, financial security, DISCLOSURES PURSU-
ANT TO SECTION FOUR HUNDRED SIXTY-TWO OF THE REAL PROPERTY LAW,  record-
keeping  and  reporting  or any other requirement the commissioner deems
necessary  to  safeguard  life,  property  or  natural  resources.  Such
requirement  shall  only  apply  to  those dams or other structures that
impound waters which pose, in the event of failure, a threat of personal
injury, substantial property  damage  or  substantial  natural  resource
damage.
  S  2.  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:

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

                                                           LBD14706-02-4

S. 7070                             2

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
RECEIVE  UPON  THE  TRANSFER  OF  TITLE A CREDIT OF FIVE HUNDRED DOLLARS
AGAINST THE AGREED UPON PURCHASE PRICE OF THE RESIDENTIAL REAL PROPERTY.
  "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)

S. 7070                             3

  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)
  10. ARE THERE ANY DAMS OR OTHER WATER IMPOUNDMENT  STRUCTURES  LOCATED
       ON OR ABUTTING THE PROPERTY?  YES NO UNKN NA
  10-A. ARE  THERE ANY DAMS OR WATER IMPOUNDMENT STRUCTURES ON THE PROP-
         ERTY THAT WOULD SUBJECT THE OWNER TO  LIABILITY  UNDER  SECTION
         15-0507 OF THE ENVIRONMENTAL CONSERVATION LAW? YES NO UNKN NA

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
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]  11. IS ANY OR ALL OF THE PROPERTY LOCATED IN A DESIGNATED FLOOD-
      PLAIN? YES  NO  UNKN  NA (IF YES, EXPLAIN BELOW)
  [11] 12. IS ANY OR  ALL  OF  THE  PROPERTY  LOCATED  IN  A  DESIGNATED
      WETLAND?  YES  NO  UNKN  NA (IF YES, EXPLAIN BELOW)
  [12]  13. IS THE PROPERTY LOCATED IN AN AGRICULTURAL DISTRICT? YES  NO
      UNKN  NA (IF YES, EXPLAIN BELOW)
  [13] 14. WAS THE PROPERTY EVER THE SITE OF A LANDFILL? YES   NO   UNKN
      NA (IF YES, EXPLAIN BELOW)
  [14] 15. 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] 16. IS THERE ASBESTOS IN THE STRUCTURE?  YES NO UNKN NA (IF  YES,
      STATE LOCATION OR LOCATIONS BELOW)
  [16]  17. IS  LEAD  PLUMBING  PRESENT?   YES NO UNKN NA (IF YES, STATE
      LOCATION OR LOCATIONS BELOW)
  [17] 18. HAS A RADON TEST BEEN DONE?  YES NO UNKN NA (IF YES, ATTACH A
      COPY OF THE REPORT)

S. 7070                             4

  [18] 19. 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]  20. 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]  21. IS  THERE ANY ROT OR WATER DAMAGE TO THE STRUCTURE OR STRUC-
      TURES?  YES NO UNKN NA (IF YES, EXPLAIN BELOW)
  [21] 22. IS THERE ANY FIRE OR SMOKE DAMAGE TO THE STRUCTURE OR  STRUC-
      TURES?  YES NO UNKN NA (IF YES, EXPLAIN BELOW)
  [22]  23. IS  THERE ANY TERMITE, INSECT, RODENT OR PEST INFESTATION OR
      DAMAGE?  YES NO UNKN NA (IF YES, EXPLAIN BELOW)
  [23] 24. 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] 25. 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 ON THE ROOF IN EFFECT NOW? YES NO UNKN NA
      (IF YES, EXPLAIN BELOW)
  [25]  26. 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]  27. WHAT  IS  THE  WATER  SOURCE  (CIRCLE ALL THAT APPLY - WELL,
      PRIVATE, MUNICIPAL, OTHER)? IF MUNICIPAL, IS IT  METERED?  YES  NO
      UNKN NA
  [27]  28. HAS  THE  WATER QUALITY AND/OR FLOW RATE BEEN TESTED? YES NO
      UNKN NA (IF YES, DESCRIBE BELOW)
  [28] 29. 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] 30. 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)
  [30]  31. 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]  32. DOES  THE  BASEMENT  HAVE  SEEPAGE  THAT RESULTS IN STANDING
      WATER? 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] 33. PLUMBING SYSTEM?           YES        NO        UNKN        NA
[33] 34. SECURITY SYSTEM?           YES        NO        UNKN        NA
[34] 35. CARBON MONOXIDE DETECTOR?  YES        NO        UNKN        NA
[35] 36. SMOKE DETECTOR?            YES        NO        UNKN        NA

S. 7070                             5

[36] 37. FIRE SPRINKLER SYSTEM?     YES        NO        UNKN        NA
[37] 38. SUMP PUMP?                 YES        NO        UNKN        NA
[38] 39. FOUNDATION/SLAB?           YES        NO        UNKN        NA
[39] 40. INTERIOR WALLS/CEILINGS?   YES        NO        UNKN        NA
[40] 41. EXTERIOR WALLS OR SIDING?  YES        NO        UNKN        NA
[41] 42. FLOORS?                    YES        NO        UNKN        NA
[42] 43. CHIMNEY/FIREPLACE OR STOVE?YES        NO        UNKN        NA
[43] 44. PATIO/DECK?                YES        NO        UNKN        NA
[44] 45. DRIVEWAY?                  YES        NO        UNKN        NA
[45] 46. AIR CONDITIONER?           YES        NO        UNKN        NA
[46] 47. HEATING SYSTEM?            YES        NO        UNKN        NA
[47] 48. HOT WATER HEATER?          YES        NO        UNKN        NA
[48] 49. 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 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.

  ______________________________________________________________________
  ______________________________________________________________________
  ______________________________________________________________________
  ______________________________________________________________________

  SELLER'S CERTIFICATION: SELLER CERTIFIES THAT THE INFORMATION IN  THIS
PROPERTY  CONDITION  DISCLOSURE  STATEMENT  IS  TRUE AND COMPLETE TO THE
SELLER'S ACTUAL KNOWLEDGE AS OF THE DATE SIGNED  BY  THE  SELLER.  IF  A
SELLER  OF  RESIDENTIAL  REAL  PROPERTY ACQUIRES KNOWLEDGE WHICH RENDERS
MATERIALLY INACCURATE A PROPERTY CONDITION DISCLOSURE STATEMENT PROVIDED
PREVIOUSLY, THE  SELLER  SHALL  DELIVER  A  REVISED  PROPERTY  CONDITION
DISCLOSURE  STATEMENT  TO THE BUYER AS SOON AS PRACTICABLE. IN NO EVENT,
HOWEVER, SHALL A SELLER BE REQUIRED TO PROVIDE A REVISED PROPERTY CONDI-
TION DISCLOSURE STATEMENT AFTER THE TRANSFER OF TITLE FROM THE SELLER TO
THE BUYER OR OCCUPANCY BY THE BUYER, WHICHEVER IS EARLIER.

  SELLER _______________________________________  DATE ________________
  SELLER _______________________________________  DATE ________________

  BUYER'S ACKNOWLEDGMENT: BUYER ACKNOWLEDGES RECEIPT OF A COPY  OF  THIS
STATEMENT  AND BUYER UNDERSTANDS THAT THIS INFORMATION IS A STATEMENT OF
CERTAIN CONDITIONS AND INFORMATION CONCERNING THE PROPERTY KNOWN TO  THE
SELLER. IT IS NOT A WARRANTY OF ANY KIND BY THE SELLER OR SELLER'S AGENT
AND  IS  NOT A SUBSTITUTE FOR ANY HOME, PEST, RADON OR OTHER INSPECTIONS
OR TESTING OF THE PROPERTY OR INSPECTION OF THE PUBLIC RECORDS.

  BUYER _______________________________________   DATE ________________
  BUYER _______________________________________   DATE ________________

  S 3. This act shall take effect immediately.

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