Common use of Local Agency as Third Party Beneficiary Clause in Contracts

Local Agency as Third Party Beneficiary. The CC&Rs or other Governing Documents required by Section 16.3 shall be subject to reasonable review and approval as to form by the Local Agency’s general counsel, and shall expressly provide the Local Agencyapplicable Local Agency (the County while the property remains in the unincorporated County, and the City after the property has been annexed to the City) with a third party right to enforce the Landowners’ or its successors’ and assigns’, including each Owners’ Association’s, obligations under Section 16.2 and 16.3 hereunder. The Local Agency shall be entitled to receive copies of all information and documentation that are sent to all of the owners of lots and units pursuant to the requirements of the CC&Rs or required by law related to the ongoing operation, maintenance and repair of Project Infrastructure as provided herein, including without limitation, a copy of (i) the annual budget of the Responsible Owners Association when it is distributed to the property owners, (ii) a copy of the reserve study performed by the Responsible Owners Association (as required in the CC&Rs) when it is distributed to the property owners, and (iii) the annual budget of each Owners’ Association (other than the Responsible Owners Association) indicating that funds are set aside to pay the Owners’ Association’s cost sharing obligations to the Responsible Owners Association when such budget is distributed to the property owners. The Local Agency’s review of the Responsible Owners’ Association’s budget and reserve study is intended to provide evidence that the Responsible Owners’ Associations’ has included in its budget the necessary funding of the Project Infrastructure in compliance with the Project Approvals (including, without limitation, this Agreement) and that reserves are being funded at appropriate levels. The Local Agency’s review of the remaining Owners’ Associations budgets is intended to provide evidence that the each such Owners’ Association has included in its budget the necessary funding for its share of the costs to be paid to the Responsible Owners Association. If the Responsible Owners Association or any Owners’ Association breaches its obligations to provide all necessary and ongoing operation, maintenance and repairs in accordance with this Agreement, such breach shall not be considered a breach, Default, justification for a Certificate of Non-Compliance or otherwise be held against the Landowner under this Agreement (except to the extent the applicable Owners’ Association is a Transferee of Landowner, the Landowner maintains voting control of such Owners’ Association, and the Transferee is in default of its express obligations under this Section 16), and then only as to such Transferee, unless Xxxxxxxxx has failed to record CC&Rs or other appropriate Governing Documents for the property that is the subject of the breach.

Local Agency as Third Party Beneficiary. The CC&Rs or other Governing Documents required by Section 16.3 shall be subject to reasonable review and approval as to form by the Local Agency’s general counsel, and shall expressly provide the Local Agencyapplicable Local Agency (the County while the property remains in the unincorporated County, and the City after the property has been annexed to the City) with a third party right to enforce the Landowners’ or its successors’ and assigns’, including each Owners’ Association’s, obligations under Section 16.2 and 16.3 hereunder. The Local Agency shall be entitled to receive copies of all information and documentation that are sent to all of the owners of lots and units pursuant to the requirements of the CC&Rs or required by law related to the ongoing operation, maintenance and repair of Project Infrastructure as provided herein, including without limitation, a copy of (i) the annual budget of the Responsible Owners Association when it is distributed to the property owners, (ii) a copy of the reserve study performed by the Responsible Owners Association (as required in the CC&Rs) when it is distributed to the property owners, and (iii) the annual budget of each Owners’ Association (other than the Responsible Owners Association) indicating that funds are set aside to pay the Owners’ Association’s cost sharing obligations to the Responsible Owners Association when such budget is distributed to the property owners. The Local Agency’s review of the Responsible Owners’ Association’s budget and reserve study is intended to provide evidence that the Responsible Owners’ Associations’ has included in its budget the necessary funding of the Project Infrastructure in compliance with the Project Approvals (including, without limitation, this Agreement) and that reserves are being funded at appropriate levels. The Local Agency’s review of the remaining Owners’ Associations budgets is intended to provide evidence that the each such Owners’ Association has included in its budget the necessary funding for its share of the costs to be paid to the Responsible Owners Association. If the Responsible Owners Association or any Owners’ Association breaches its obligations to provide all necessary and ongoing operation, maintenance and repairs in accordance with this Agreement, such breach shall not be considered a breach, Default, justification for a Certificate of Non-Compliance or otherwise be held against the Landowner under this Agreement (except to the extent the applicable Owners’ Association is a Transferee of Landowner, the Landowner maintains voting control of such Owners’ Association, and the Transferee is in default of its express obligations under this Section 16), and then only as to such Transferee, unless Xxxxxxxxx has failed to record CC&Rs or other appropriate Governing Documents for the property that is the subject of the breach.

Local Agency as Third Party Beneficiary. The CC&Rs or other Governing Documents required by Section 16.3 shall be subject to reasonable review and approval as to form by the Local Agency’s general counsel, and shall expressly provide the Local Agencyapplicable applicable Local Agency (the County while the property remains in the unincorporated County, and the City after the property has been annexed to the City) with a third party right to enforce the Landowners’ or its successors’ and assigns’, including each Owners’ Association’s, obligations under Section 16.2 and 16.3 hereunder. The Local Agency shall be entitled to receive copies of all information and documentation that are sent to all of the owners of lots and units pursuant to the requirements of the CC&Rs or required by law related to the ongoing operation, maintenance and repair of Project Infrastructure as provided herein, including without limitation, a copy of (i) the annual budget of the Responsible Owners Association when it is distributed to the property owners, (ii) a copy of the reserve study performed by the Responsible Owners Association (as required in the CC&Rs) when it is distributed to the property owners, and (iii) the annual budget of each Owners’ Association (other than the Responsible Owners Association) indicating that funds are set aside to pay the Owners’ Association’s cost sharing obligations to the Responsible Owners Association when such budget is distributed to the property owners. The Local Agency’s review of the Responsible Owners’ Association’s budget and reserve study is intended to provide evidence that the Responsible Owners’ Associations’ has included in its budget the necessary funding of the Project Infrastructure in compliance with the Project Approvals (including, without limitation, this Agreement) and that reserves are being funded at appropriate levels. The Local Agency’s review of the remaining Owners’ Associations budgets is intended to provide evidence that the each such Owners’ Association has included in its budget the necessary funding for its share of the costs to be paid to the Responsible Owners Association. If the Responsible Owners Association or any Owners’ Association breaches its obligations to provide all necessary and ongoing operation, maintenance and repairs in accordance with this Agreement, such breach shall not be considered a breach, Default, justification for a Certificate of Non-Compliance or otherwise be held against the Landowner under this Agreement (except to the extent the applicable Owners’ Association is a Transferee of Landowner, the Landowner maintains voting control of such Owners’ Association, and the Transferee is in default of its express obligations under this Section 16), and then only as to such Transferee, unless Xxxxxxxxx has failed to record CC&Rs or other appropriate Governing Documents for the property that is the subject of the breach.