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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 af notice from the condemning authority. 15.8 Re�uirements for Mana�ement Agreements. The term of any-agreement for � . professional management of the Property shall not exceed two years. Any such agre�ment shall ' provide for termination withaut per.alty or termination fee by either party as iollows: (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 notice. . 15.9 Access to Books and Records/Audit. Eligible Mongagees, or an institutional insurer or guarantor 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 financia} statements. 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 guarantor or insurer of a mortgage loan against a Unit, may require that, at its own expense, an audit of the Association's financial statements be made for the preceding year, in which case ihe Association shall cooperate in having an audit made and a . copy given to the requesting party. 15.10 Notice Requirements. Upon written request to the Association, identifying the ' name and address of the hoider, insurer or guarantor of a rnortgage on a Unit, and the Unit number or address,the holder,insurer or guarantor shail he entitled to timely written notice of: I5,10.1 a condemnation loss or any casualty loss which affects a material portion of the Property or the Unit securing the mortgage; � t5.10,2 a sixty day delinquency in tiie payment of Assessments or charges owed by the Owner of a Unit on which it holds a mortgage; 15.10.3 a lapse, cancellation or material modification of any insurance policy maintained by the Association;and 15.10.4 a proposed action which requires 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 SISB.I-103(32) of the Act for as long as it owns a Unit,or for such shorter period as may be specifically indicated: 16.] Comvlete improvemenu. 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 I •