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.. • . . • � , . Association shall give written notice to all Eligible Mortgagees of any condemnation or eminent : ' domain proceeding affecting the Property promptly upon receipt of notice from the condemning authority. 15.8 Requirements for Mana ement Aereements. The term of any-agreemen[ for � . professional management of the Property shall not exceed two years. Any such agree�ent shall " provide for terminatian with�ut penalty cr terminatian fee by either parry as follows: (i} with cause, upon a minimum of thirty, and a maximum of forty-five, days prior written notice, and, (ii)withoui 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 guarantor of a mortgage loan against a Unit, shall have the right to examine the books and records of the Assaciation upon reasonable notice, during rtormal business hours, and to receive free of charge, upon written request, capies of the Association's annual reports and other I financial staternents. Financial statements, including those which are audited, shall be available within one hundred eighty days after the end of the Association's fiscal year. FNMA, or any . Eligible Mortgagee, institutional gaarantor or insurer of a mortgage loan against a Unit, may require that, ai its 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. I S.l0 Notice Requirements. Upon written request to the Association, identifying the ' name and address of the holder, insurer or guarantor of a mortgage on a Unit, and the Unit number or address,the holder,insurer or guarantor shall be entitled to timely written notice of: I S.1Q.1 a condemnation loss or any casaalty]oss which affects a material portion of the Property or the Unit securing the mortgage; � I5.10.2 a sixty day delinquency in the payment of Assessments or charges owed by the,Owner of a Unit on which it holds a mortgage; 15.10_3 a lapse, cancetlation or material modification of any insurance policy maintained by the Association;and I 5.10..4 a proposed action which rec�uires the consent of a specified percentage of , Eligible Mortgagees. . SECT[ON 16 - - . SPECIAL DECLARANT RICHTS Declarant hereby reserves exclusive and unconditional authority to exercise the following special Declarant rights within the meaning of Section S I SB.1-103(32) of the Act for as long as it owns a Unit,or for such shorEer period as may be specifically indicated: lb.l Comt�lete imvrovements. To complete each Building, Unit, and other improvements indicated on the Plat, or otherwise included in Declarant's development plans or MPLS-Word 95281.1 I 36