Common use of FINANCIAL STATEMENTS FOR MORTGAGEES Clause in Contracts

FINANCIAL STATEMENTS FOR MORTGAGEES. If an audited financial statement for the immediately preceding fiscal year is available, the Association shall provide a copy to any Mortgagee who makes a written request for it. If an audited financial statement is not available, any Mortgagee who desires to have an audited financial statement of the Association may cause an audited financial statement to be prepared at the Mortgagee's expense. The audited financial statement shall be available within one hundred twenty (120) days of the end of the Association's fiscal year.