5. HRSR 03-01-2010 - Laserfiche WebLink

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terminate the legal stat is of the common interest community after substantial destruction or condemnation occurs; or - (xvi) any provisions that expressly benefit Eligible Mortgagees, or insurers or guarantors of mortgages. 14.1.2. C onsent to Certain Actions. The written consent of Eligible Mortgagees representing at least sixty -seven percent of the Units that are subject to first mortgages held by Eligible Mortgagees (based upon one vote per Unit financed) shall be required to (i) abandon or terminate the common interest community; (fi) change the allocations of voting rights, Common Expense obligations or interests in the Common Elements; (iii) partition or subdivide a Unit except as permitted by statute, (iv), abandon, partition, subdivide, encumber or sell any Common. Elements; or (v) use hazard insiLrance proceeds for other than the repair, replacement or reconstruction of the Property, except as otherwise provided by law.. 14.13. Consent to S ibdiyision, No Unit may be partitioned or subdivided without the prior written approval of the Owner and Eligible Mortgagee thereof, and the Association.. 14.1.4. No Right' of First Refusal, The right of an Owner to sell, transfer or otherwise'convcy his or her Unit shall not be subject to any right of first refusal or similar restrictions. 14.1.5. Pri ari of f,ien. Any Person who comes into possession of a Ur�t by foreclosure of the first mortgage on a Unit, or by deed or assignment' in lieu. of foreclosure of the first mortgage on a Unit, tapes the Unit free of any claims for unpaid Assessments or any other charges or liens imposed against the Unit by the Association which have accrued against such Unit prior to the acquisition of possession of the Unit by. said Person; (i) except as provided in Section 6.9 or MCIOA and (ii) except that any un eimbursed Assessments or charges may be reallocated among all Units in accordance with their interests in the Common Elements. 14. I.6, Prior of Taxes and Other Char cs..A.11 taxes, Assessments and charges which may become liens prior to the first mo rtgage under state law shall relate only to the individual Units and not to the Property as a whole. 14,1.7, Priority for Condemnation A- �rards. No provision of the Governing Docuxu.ents shall give an Owner, or any other party, priority over any rights of the Eligible Mortgagee of the Unit pursuant to its mortgage in the case of a distribution to such Owner of insurance proceeds or condemnation awards for losses to or a taking of the Unit and/or the Common Elements. The Association shall give written notice tb all Eligible Mortgagees of any condemnation or eminent domain prooeeding. affecting the Property promptly upon. rcceipt of notice from the condemning authority. 14.1.8. Re xirament for Management Au-eembnts. The term of any agreement for professional rnanagem nt of the Proper shall not exceed two years. Any such agreement shall provide for termination without penalty or termination fee by either party as follows: (i) with cause, upon a n�ni.mum of thirty days prior written notice, and, (ix) without cause, irpori ninety days prior written notice, MPLs -word 2021 84.3 34