(a) In any instance where a municipal sewer improvement district has contracted for the furnishing of sanitary sewer service to lands lying outside the boundaries of the district, that district shall cause to be recorded, in the land records of the county in which the land is located, an instrument containing:
(1) A full and complete description of the lands which are subject to the contract;
(2) A fair summary of the terms and provisions of the contract; and
(3) Such other information as might be pertinent to the transaction.
(b) If the instrument referred to in subsection (a) of this section is not recorded as there required, a subsequent purchaser of all, or any part, of the land covered by the contract shall have the right to connect improvements located on the lands to the sanitary sewer lines of the district without charge for the connections, unless the purchaser had actual notice of the contract and the terms thereof concerning connection charges.