Common Interest Community Documents Sample Clauses

Common Interest Community Documents. The parties acknowledge that Seller has provided Buyer with copies of actual or proposed common interest community documents. If Buyer objects to the terms of such documents, Buyer may terminate this Contract by written notice to Seller delivered within the Rescission Period. The Buyer Xxxxxxx Money Deposit and Option Deposit shall be returned to Buyer on termination under this paragraph.
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Common Interest Community Documents. The term CIC Documents consists of all owners’ associations (Association) declarations, 233 bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent annual owners’ meeting and minutes of any 234 directors’ or managers’ meetings during the six-month period immediately preceding the date of this Contract, if any (Governing Documents), most 235 recent financial documents consisting of (1) annual balance sheet, (2) annual income and expenditures statement, and (3) annual budget (Financial 236 Documents), if any (collectively CIC Documents). 🞏
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Common Interest Community Documents. Seller will deliver proposed drafts of the Declaration and Bylaws to Buyer on or before the Association Documents Deadline. If Buyer objects to the terms of any CIC Documents so delivered, Buyer may terminate this Contract by written notice of termination delivered to Seller on or before the Association Documents Termination Deadline. Seller reserves the right to modify any CIC Documents prior to Closing, in its reasonable discretion, and no later than the Seller’s Disclosures Deadline, Seller will provide to Buyer a copy of all final versions of the CIC Documents, including all modifications to prior drafts. In the event any modification to the CIC Documents has a direct, material impact upon the Unit, and Buyer is materially prejudiced by such modification, Buyer may terminate this Contract by written notice of termination delivered to Seller within 5 days of the delivery of such modifications to Buyer. In the event of Xxxxx’s termination under this Section 9.6.2, all Xxxxxxx Money shall be refunded to Buyer. At Closing, Xxxxx shall deliver a written acknowledgement to Seller, in a form acceptable to Seller, in its discretion, certifying that Buyer will accept the Unit subject to the CIC Documents, and that Buyer has read and understands all terms and conditions set forth in the CIC Documents.
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Common Interest Community Documents. The term CIC Documents consists of all owners’ 309 associations (Association) declarations, bylaws, operating agreements, rules and regulations, party wall 310 agreements, minutes of most recent annual owners’ meeting and minutes of any directors’ or managers’ 311 meetings during the six-month period immediately preceding the date of this Contract, if any 312 (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 313 (2) annual income and expenditures statement, and (3) annual budget (Financial Documents), if any 314 (collectively CIC Documents). 315  7.4.1. Not Applicable. This § 7.4 shall not apply. 316 7.4.2. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN 317 A COMMON INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH 318 COMMUNITY. THE OWNER OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF 319 THE OWNER’S ASSOCIATION FOR THE COMMUNITY AND WILL BE SUBJECT TO THE 320 BYLAWS AND RULES AND REGULATIONS OF THE ASSOCIATION. THE DECLARATION, 321 BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL OBLIGATIONS UPON 322 THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY ASSESSMENTS OF 323 THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 324 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY 325 THE DEBT. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE 326 COMMUNITY MAY PROHIBIT THE OWNER FROM MAKING CHANGES TO THE PROPERTY 327 WITHOUT AN ARCHITECTURAL REVIEW BY THE ASSOCIATION (OR A COMMITTEE OF 328 THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. PURCHASERS OF 329 PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 330 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD 331 CAREFULLY READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND 332 RULES AND REGULATIONS OF THE ASSOCIATION. 333  7.4.3. Not Conditional on Review. Buyer acknowledges that Buyer has received a copy of the 334 CIC Documents. Buyer has reviewed them, agrees to accept the benefits, obligations and restrictions 335 that they impose upon the Property and its owners and waives any right to terminate this Contract due 336 to such documents, notwithstanding the provisions of § 8.5. 337 7.4.4. CIC Documents to Buyer.
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Common Interest Community Documents. The parties acknowledge that Seller will provide Buyer with copies of actual or proposed common interest community documents. If Buyer objects to the terms of such documents, Buyer may terminate this Contract by written notice to Seller delivered within ten (10) days after delivery of the common interest community documents. Seller reserves the right to make corrections and modifications to such documents. In the event of any subsequent modification to such documents that has a direct material impact upon Buyer, Seller shall provide written notice of such modification to Buyer, and Buyer may terminate by written notice delivered to Seller within ten (10) days of the delivery of such modifications to Buyer. Deposits shall be returned to Buyer on termination under this paragraph.
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Related to Common Interest Community Documents

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