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shall also receive notice of the lapse of any insurance policy <br /> maintained by the Association. <br /> (b) A first mortgagee, upon request in writing, shall <br /> receive notice of (i) any condemnation or casualty loss that <br /> affects either a material portion of the Properties or the house <br /> on the Lot securing its mortgage, (ii) any delinquency of sixty <br /> (60) days or more in payments of assessments on the Lot securing <br /> its mortgaqe or (iii) any proposed action requiring the consent of <br /> a specified percentage of the first mortgagees. <br /> (c) No provision of this Declaration or the Bylaws shall <br /> give a Lot Owner or any other person, priority over the rights of <br /> f irst mortgagees, their successors on assigns, under the mortgage <br /> to insurance or condemnation proceeds. <br /> (d) First mortgagees, t-heir successors or assigns, shall <br /> have the right to inspect the books and records of the Association <br /> during normal business hours. <br /> IN WITNESS WHEREOF, the Declarant has executed this instrument <br /> as of the day and year first above written. <br /> REBERS CONSTRUCTION CO. <br /> Y '- <br /> `S�clney . Rebe , <br /> President <br /> STATE OF MINNESOTA ) <br /> ) ss. <br /> COUNTY OF HENNEPIN ) <br /> The foregoing instrument was acknowledged before me this :����� <br /> day of r<-ti��c ;;;lr�4 , 1989, by �`� i��i�,�;.; i�.���':-�-�,: r _� , the President <br /> of REBERS CONSTRUCTION CO. , a Minnesota corporation, on behalf of <br /> the corporation. <br /> __� , �� ,�-, �_- ,� <br /> ' `,`', /.!ti_';~ '�,'' L, L,,.�f <br /> ' ` ' � e- _ _. <br /> AND PRIOR TAXES PAID Notary Public <br /> DE°T.OF PROPERTY iAi;&PUBLIC RECOROS . <br /> TRRhSFER ENTEf�EQ � . <br /> r"� LINDR L. KARKOC <br /> �1'� NOTARY PUBIIC—MINNESOTA <br /> �� 1 - �- HENNEPIN COUNTY <br /> i My Commission Expires Mar.25, 1952 <br /> PI 0 , +� � <br /> DEPUTY <br /> ttw�sugarwoods/9/29l89 2 0 <br />