HomeMy WebLinkAbout0755 12. 1.~ RIGir1'S or ~".ORTGAGEN S . In addition to any rights
provided elsewhere in this~eclaration, any holder of a first
mortgage on a Condominium Parcel and any transferee of such .
a mortgage shall have a right
(a). to receive from the Association a Dopy of the
Association's a:inual financial report,
(b). to inspect the Association's books and records
during, normal business hours,
(c). to receive an unaudited financial statement of
the Association wit::i_n 90 days after each of its fiscal years
closes,
(d). to receive from the Association written notice
of any meeting, of the Association's membership for the purpose
of considering; or vetinP, on an intendment to this Declaration,
the By-laws or the Association's articles.
(e). to receive front the Association written notice
of any default udder this Declaration or By-laws by an
Owner of an anart*aent encur^bered by a mortgage on it, if the
default re^taitts uncured for more than 3U days.
(f) . *_-o Yeceive ti*ael~~. :.~ritten notice of casualty
dartaf;e '_n or coc~c:~~^tnation o:: piny part of the Common Elements
or any a;~artrten, ~m which it has a first mortgage or of any
proposed termination of the Condominium.
(~l. ro he f~iven an endorsement to each insurance
policy coveriti~, tPe Condominium Property, and
(h). to examine the Association's books and records
during normal business hours.
(i). Day, singly or jointly, taxes or other charges
that are delinquent and have resulted or may result in a lien
against the Condominium Froperty as a whole and receive im-
mediate reimbursement from the Association, and
!j). pay, singly or jointly, any overdue premiums f
on any hazard insurance policy coverinb the Condominium Pro-
perty or obtain, singly or jL~ititly, new hazard insurance cov-
erage on the Condominium Property upon the lapse of a policy
and, in either case, receive ii~;tediate reimbursement from
tF.e Association.
2' .
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