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r. � . � ` • ; Association sha]I give written notice to ali Eligible Mortgagees of any condemnation or eminent : ' domain proceeding affecting the Property promptly upon receipt of notice fram the condemning authority. IS_8 Requirements for Management Agreements. The term of any a�reement for , � professional managemer�t of the Property shall not erceed two years. Any such agreement shall _ prcvide far terminatian without per,a;ty cr terminatian fee by either parry as iollows: (i) with cause, upon a minimum of thirty, and a maximum of forty-five, days prior written notice, and, (ii)without cause,upon a minimum of sixty days prior written notic�. . 15.9 Access to Books and Records/Audit. Eligible Mortgagees, or an institutional insurer or�uarantor of a mortgage loan against a Unit, shatl have the right to examine the books and records of the Association upon reasonable notice, during normal business hours, and to receive free of charge, upon written request, copies of the Association's annual reports and other I financial staternents. Financial statements, including thase which are audited, shal] be available within one hundred eighty days after the end of the Association's fiscal year. FNMA, or any . Eligible Mortgagee, institutiona� guarantor or insurer of a mortgage loan against a Unit, may require that, at iis own expense, an audit of the Association's financial statements be made for the preceding year, in which case the Association shall cooperate in having an audit made and a . copy given to the requesting party. 15.10 Notice Re4uirements. Upon written request to the Association, identifying the ' name and address of the holder, insurer or guarantor of a mortga�e on a Unit, and the Unit number or address,the holder,insurer or�uarantor shall be entitled to timely written notice of: I5,i Q.1 a condemnation loss or any casualty loss which affects a material portion of the Property or the Unit securing the mortgage; 15.10.2 a sixty day delinquency in the payment of Assessments or charges owed by the Owner of a Unit on which it ho3ds a mortgage; I5.lQ.3 a lapse, cancellation or material modification of any insurance policy maintained by the Association;and 15.1Q..4 a proposed action which requires the consent of a specified percentage of , Eligible Mortgagees. � SECTION l6 SPECIAL DECLARANT RIGHTS Declarant hereby reserves exclusive and unconditional authority to exercise the following special Declarant rights within the meaning of Section S 15B_(-103(32) of the Act for as long as it owns a Unit,or for such shorter period as may be specifically indicated: 16.1 Cornp(ete imvrovements. To complete each Building, Unit, and other improvements indicated on the Plat, or otherwise incladed in Declarant's development plans or MPLS-Word 9528 t.t I 3b