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^ Unit so subdivided or converted will be reallocated to the resulting new Units in proportion to <br />relative land area, and the voting power of the entire Association shall be reidlocated based on the <br />relative rentable floor area of each building. <br />16.07 No Tiroe Shares. Time shares, as defined in the Act, are not permitted in this CIC. <br />16.08 Rules and Regulations. The Board shall have the exclusive authority to adopt from <br />time to time such other rules and regulations governing the administration of the affairs of the <br />Association, the use, maintenance and enjoyment of the Real Estate, and the conduct of persons <br />using the Real Estate, as the Board in its reasonable discretion deems desirable or necessary to <br />implement the intent of this Declaration. New or amended rules and regulations shall be effective <br />only after reasonable notice thereof has been given to the owners. <br />17.00 FIRST MORTGAGEES <br />17.01 Agreements with Mortgage Holders. The Board may enter into binding agreements <br />with holders and guarantors of mortgages secured by interests in a Unit, obligating the Association to <br />give specified notice or other rights to such holders and guarantors. <br />18.00 SPECIAL DECLARANT RIGHTS <br />16.01 Special Declarant Rights. Declarant hereby reserves the following rights (referred to in <br />MClOA as Special Declarant Rights) for its benefit: <br />A. the right to create Units by this Declaration; <br />B. the right to construct and complete improvements; <br />C. the right to maintain sales office, management office, signs advertising the CIC, <br />and models, provided that no more than one combined sales and management <br />office will be maintained at any one time; <br />D. the right to use easements through the Common Elements for the purpose of <br />making improvements within the CIC; and <br />E. the right to tqipoint or remove any officer or director of the Association during the <br />period of declarant control, which shall expire on the earliest of the following <br />events: <br />1. surrender of the right of control by the Declarant; <br />2. 60 days after the conveyance of 75% of the Units to Owners other than <br />Declarant; and