(a) Prior to the execution of a contract, or before the transfer of any money other than a refundable priority reservation application fee or a priority reservation fee to the operator by or on behalf of a prospective resident, whichever occurs first, the operator shall deliver to the person with whom the contract is to be entered into or the person's legal representative:

1. (1) the most recent annual statement required pursuant to section 901.8 of this Part; and
2. (2) an initial disclosure statement including the information contained in the contract unless the contract is attached to and made part of the initial disclosure statement. Such disclosure statement shall be prepared in accordance with section 900.3(c)(14) of this Title.