106 STAT. 3910 PUBLIC LAW 102-550—OCT. 28, 1992 inspections, interim controls, and abatement of lead-based paint hazards. Such guidelines shall be based upon criteria that measure the condition of the housing (and the presence of children under age 6 for the purposes of risk assessments) and shall not be based upon criteria that measure the health of the residents of the housing. 42 USC 4g52d. SEC. 1018. DISCLOSURE OF INFORBfATION CONCERNING LEAD UPON TRANSFER OF RESIDENTIAL PROPERTY. (a) LEAD DISCLOSURE IN PURCHASE AND SALE OR LEASE OF TARGET HOUSING. — Regulations. (1) LEAD-BASED PAINT HAZARDS. —Not later than 2 years after the date of enactment of this Act, the Secretary and the Administrator of the Environmental Protection Agency shall promulgate regiilations under this section for the disclosure of lead-based paint hazards in target housing which is offered for sale or lease. The relations shall require that, before the purchaser or lessee is obligated under any contract to purchase or lease the housing, the seller or lessor shall— (A) provide the purchaser or lessee with a lead hazard information pamphlet, as prescribed by the Administrator of the Environmental Protection Agency under section 406 of the Toxic Substances Control Act; (B) disclose to the purchaser or lessee the presence of any known lead-based paint, or any known lead-based paint hazards, in such housing and provide to the purchaser or lessee any lead hazard evaluation report available to the seller or lessor; and (C) permit the purchaser a 10-day period (unless the parties mutiially agree upon a different period of time) to conduct a risk assessment or inspection for the presence of lead-based paint hazards. (2) CONTRACT FOR PURCHASE AND SALE. —Regulations promulgated under this section shall provide that every contract for the purchase and sale of any interest in target housing shall contain a Lead Warning Statement and a statement signed by the purchaser that the purchaser has— (A) read the Lead Warning Statement and understands its contents; (B) received a lead hazard information pamphlet; and (C) had a 10-day opportunity (unless the parties mutually agreed upon a different period of time) before becoming obligated under the contract to purchase the housing to conduct a risk assessment or inspection for the presence of lead-based paint hazcurds. (3) CONTENTS OF LEAD WARNING STATEMENT. — The Lead Warning Statement shall contain the following text printed in large t}rpe on a separate sheet of paper attached to the contract: "Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women.