02-18-2025 Planning Commission Packet (2)

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25 DECLARANT RIGHTS Declarant hereby reserves exclusive and unconditional authority to exercise the following declarant rights within the meaning of Section 515B.1-103(33b) of the Act, and other rights described in this Section, for as long as it owns a Unit, or for such shorter period as may be specifically indicated: 14.1. Complete Improvements. To complete all the Buildings, Units and any other improvement indicated on the Plat, or otherwise included in Declarant’s development plans, or authorized by the City or the Declaration, and to make improvements in the Units owned by the Declarant and Common Elements to accommodate the exercise of any declarant rights. 14.2. Relocate Boundaries, Subdivide, Combine, Convert and Alter Units. To relocate boundaries between Units, subdivide, combine and convert Units and to otherwise alter Units owned by it, to the extent permitted by the Act in and accordance with Section 14.8. 14.3. Marketing Facilities. To construct, operate and maintain a sales office, management office, models, and other development, sales and rental facilities within the Common Elements, and within any Units owned or leased by Declarant from time to time located anywhere on the Property or on the Additional Real Estate. 14.4. Signs. To erect and maintain signs and other sales displays offering the Units for sale or lease, in or on any Unit owned by Declarant and on the Common Elements or on the Additional Real Estate. 14.5. Easements. To have and use easements, for itself, its employees, contractors, representatives, agents, prospective purchasers or other invitees through and over the Common Elements and Limited Common Elements for the purpose of exercising its declarant rights. 14.6. Control of Association. To control the operation and administration of the Association, including without limitation the power to appoint and remove the members of the board pursuant to Section 515B.3-103 of the Act, until the earliest of: (i) voluntary surrender of control by Declarant, (ii) conveyance to Owners other than Declarant of seventy-five percent of the total number of Units authorized to be included in the Property or (iii) the date three years following the date of the first conveyance of a Unit to an Owner other than Declarant. Notwithstanding the foregoing, the Owners other than Declarant shall have the right to nominate and elect not less than thirty-three and one-third percent of the directors at a meeting of the Owners which shall be held within sixty days following the conveyance by Declarant of fifty percent of the total number of Units authorized to be included in the Property. 14.7. Consent to Certain Amendments. Declarant’s written consent shall be required for any amendment to the Governing Documents or Rules and Regulations so long as Declarant owns any Unit for initial sale or has the right to add Additional Real Estate to the Property. 14.8. Relocation of Boundaries or Subdivision, Conversion or Combination of Units. Declarant shall have the following rights and authority pursuant to Section 515B.2-112 of the Act with respect to Units owned by it: (i) to relocate the boundaries of any Units and (ii) to combine Units. Other Owners shall have the right to create additional Units by the subdivision of any Unit owned by them in accordance with Section 515B.2-112 of the Act. 14.9. Additional Real Estate. Declarant hereby expressly reserves the right to add the Additional Real Estate to the Property, by unilaterally executing and recording a supplemental declaration pursuant to Section 515B.2-111 of the Act, subject to the following conditions: 14.9.1 The right of Declarant to add the Additional Real Estate to the common interest community shall terminate ten (10) years after the date of recording of this Declaration or upon earlier express 73