Common use of Homeowner Associations Clause in Contracts

Homeowner Associations. (a) WP Disclosure Schedule Section 4.19 contains an accurate and complete list of all homeowner associations (the "WP Homeowner Associations") in which any of the WP Entities has or has had declarant rights. (b) Except as set forth on WP Disclosure Schedule Section 4.19, to the knowledge of the WP Partners and the WP Entities, (i) all restrictive covenants and other documents used by any of the WP Entities in connection with the creation and operation of the WP Homeowner Associations (A) in which any of the WP Entities previously had declarant rights complied in all material respects with applicable laws at the time the same were promulgated, and (B) in which any of the WP Entities currently has declarant rights currently comply in all material respects with applicable laws, and (ii) all material disclosures and deliveries of information and documents required by applicable laws as to such WP Homeowner Associations and their creation and operation have been materially complied with. (c) To the knowledge of the WP Partners and the WP Entities, WP Disclosure Schedule Section 4.19 contains an accurate and complete list of all amounts in excess of $2,000,000 owing between the WP Homeowners Associations and any of the WP Entities. (d) To the knowledge of the WP Partners and the WP Entities, no other claims exist by a WP Homeowner Association against any of the WP Entities, and to the knowledge of the WP Partners and the WP Entities, each WP Homeowner Association has been operated, so long as any of the WP Entities has participated therein, in accordance with applicable laws.