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; � , I • _ � . , ; � Association shall give written notice to all Efigible Mortgagees of any condemnation or eminent . ' domain proceeding affecting the Property promptly upon receipt of notice from the condemning authority. 15.8 Reauirements for Mana�ement Agreements. `fhe term of any agreement for � . professional management of the Property shall not exceed two years. A.ny such agreement shall " prov:de f�r terminatian withaut per,alty cr terminatian fee by esther party as iollows: (i) with cause, upon a minimum of thirty, and a maximum of forty-five, days prior writien notice, and, (ii)without cause,upon a minimum of sixty days priar written notice. _ 15.9 Access to Books and Records/Audit. Eligible Mongagees, or an institutional insurer or guarantor of a mortgage Ioan against a Unit, shall 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 financiat statements. Financial statem�nts, including those which are audited, shall be available within one huridred 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, 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. 15.10 Natice 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: I5,10.1 a condemnation loss or any casaalty 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 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. SECTION l6 . - SPECIAL DECLARANT RICHTS Declarant hereby reserves exclusive and vnconditional authority to exercise the following special Declarant rights within the meaning of Section S15B.1-]03(32} of the Act for as long as it owns a Unit,or for such shorter period as may be specifically indicated: I6.1 Comotete irnnrovements. To complete each Building, Unit, and other improvements indicated on the Plat, or otherwise incladed in Declarant's developrnent plans or MPLS-Word 95281.1 i 36