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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. I S_8 Requirements for Mana�ement A�reements. T'he term of any a�reement for � . professional management of the Property shall not exceed two years. Any such agre��ent shall ' provitie f�r te:�^�inatian withaut per,alty o: terminat;on fee by either party as iollows: (i} with cause, upon a minimum of thirty, and a maximum of forty-fve, days prior written notice, and, (ii)without cause,upon a minimum of sixty days prior written notice. . I5.9 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 Association upon reasonable notice, during normal business hours, and to receive free of charge, upon written request, copies of the Association's annual repoRs and other 1 ' financiat statements. Financial statements, including thase 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, at its awn 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. I5.10 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 sha31 be entitled to timely written natice of: I5.10.1 a condemnation lass or any casaalty]oss which affects a material portion of the Pro�erty 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, cancetlation or material modification of any insurance policy maintained by the Association;and I 5.10_.4 a proposed action which requires the consent of a specified percentage of , Eiigible Mortgagees. . SECT[ON 16 - -. SPECIAL DECLARANT RICHTS Declarant hereby reserves exclusive and unconditional authority to exercise the following speciai 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 Comv(ete Irriprovements. 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