Property Owners’ Associations Sample Clauses

Property Owners’ Associations. Buyer acknowledges that if it accepts the Deed at the Closing, Buyer shall become a member of The Town Foundation, Inc. (the "Foundation"), the Declarations of which have been recorded in the Public Records of the County. Buyer hereby acknowledges and agrees that the Foundation is separate and distinct from Seller and that Seller has in no manner contracted, guaranteed, represented or warranted that the Foundation will take or forebear any action with regard to Buyer, the Property or any of Buyer's activities thereon. Further, Seller shall not, in any manner, be responsible to Buyer or any other person or entity for any action taken or forborne by the Foundation. The provisions of the Section shall survive Closing and delivery of the Deed.
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Property Owners’ Associations. Prior to the issuance of any certificate of occupancy for a building developed on the Real Property, a Master Property Owners’ Association (MPOA) shall be established. When the MPOA is established pursuant to this paragraph, membership in the MPOA will be mandatory for any property owner. The MPOA will be funded by dues to be established in its recorded restricted covenants. The MPOA’s responsibility will be to manage the affairs of the MPOA including the enforcement of recorded documents and the maintenance of common areas. There may be individual property owners’ associations (POA) established for each development tract which will incorporate its own common areas and be managed by each POA and governed by the MPOA. A POA may contract with the MPOA for maintenance and/or management services. The MPOA’s governing documents may also establish an Architectural Review Board (ARB) to review and approve all structures and any additions or improvements such as fences, ponds, garages, barns, etc. The Town will maintain the Facilities that are accepted by the Town, pursuant to the applicable provisions of the Current Regulations, upon tender by the Property Owner, provided said Facilities are designed for construction in accordance with the specifications approved by the Town, and provided further that the Facilities, as built, are in good condition and not subject to any monetary lien.
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Property Owners’ Associations. The Property is subject to the ---------------------------- Declaration of Covenants, Conditions and Restrictions for Abacoa recorded in Official Records Book 9739, Page 1629, Public Records of Palm Beach County, Florida ("Master Declaration"), the Articles of Incorporation and By-Laws of Abacoa Property Owner's Assembly, Inc., a Florida corporation not-for-profit (the "Master POA"), which has been established as a master community or property owners association for all of the Abacoa Project under the Master Declaration. The Property also will be subject to a Workplace District master and/or sub declaration of covenants, conditions and restrictions to be recorded in the Public Records of Palm Beach County, Florida (collectively, the "Project Declaration") establishing a master and/or sub property owners' association(s) (collectively, the "Project POA"), and the articles of incorporation and by-laws of the Project POA, which will be established as a property owners subassociation under the Master Declaration. Buyer acknowledges that Seller will be preparing the Project Declaration and that the Project Declaration may contain provisions concerning, among other matters, reconveyance of the Property to Seller, at Seller's option, in the event that construction of vertical improvements to the Property does not commence within a specified time period, cross access and parking easements, common area maintenance, assessments for common area maintenance and other expenses (such as real property taxes and assessments), lien rights with respect to assessments, and site plan and architectural review and approval. Subject to the foregoing, Buyer shall have the right to approve the Project Declaration, provided that such approval shall not be unreasonably withheld, delayed or conditioned. If Buyer objects to any provision(s) of the Project Declaration and Seller believes in good faith that such provision(s) are commercially reasonable and consistent (as applicable) with other declarations in the Abacoa Project, then Seller shall have the right to include such provision(s) in the Project Declaration notwithstanding Buyer's objection provided that such provision(s) do not directly affect the use of the Property or the intensity of development or timing of development of the Property. Buyer agrees to accept title to the Property subject to the Master Declaration and the Project Declaration and to abide by and comply with all of the terms and conditions thereof. Buyer ackno...
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Property Owners’ Associations. The list of property owners associations set forth on the attached Schedule 8.04 is complete and correct, there are no other property owners or homeowners associations affecting any of the land mortgaged to PSLA and/or THH, or to be mortgaged to PSLA pursuant to this Agreement, and the information set forth on the attached Schedule 8.10 is correct.
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Property Owners’ Associations. The Developer may establish, in its discretion, 1 or more property owners’ association(s) for the Project (the “Association”). The Association shall own and be responsible for maintenance of internal roadways, lighting, common landscape improvements, fencing, signage, pedestrian easements, the MSSW system components and any common property or facilities within the Project. The Association and/or Developer shall have the right to transfer the maintenance obligation and title to any of the common property or facilities to any successor-in-interest, or to the City or other appropriate entity if authorized by City; provided, however, that the City is under no obligation to accept the transfer of title. The duties and responsibilities of multiple associations shall be reasonably harmonized and coordinated pursuant to the documents assigning responsibilities to the various organizations. The Association shall provide for a person or persons who shall be responsible for providing reasonable coordination with the City relative to development activities and related matters.
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Property Owners’ Associations. Seller shall use commercially reasonable efforts (but shall not be required to expend any sum or incur any liability) to obtain from any property owner’s association having jurisdiction over the Property written confirmation for the benefit of Purchaser that, to the knowledge of such association, that the Seller nor the Property is in default under the covenants, conditions and restrictions administered by such association. Delivery of such confirmation shall not be a condition precedent to Purchaser’s obligations to close the transaction contemplated by this Agreement.
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Property Owners’ Associations. Prior to final plat approval or prior to issuance of the first certificate of occupancy within the development, whichever is earlier, Developer willOwners shall form and incorporate a, or join an existing non-profit property owners' associationassociations for the community and common areas. The final plat shall include such language as the City may deem necessary to reflect the association’sassociation's responsibilities. The associationassociations shall be responsible for operation, maintenance, and control of all common areas and common facilities, including signage, and landscaping [specify and add any other additional common elements]. , and neighborhood support uses. The associationassociations shall have authority to establish and assess dues and fees upon its members in order to recoup the cost of maintenance, and the power to impose and enforce liens against those members who fail to pay such assessments. All streets, drainage and common areas, such walls, wing walls, lighting, clubhouses, and playgrounds shall be maintained by the property owners' association. All persons purchasing property within the project shall be members of the property owners' association. DeveloperOwners may from time to time add additional covenants and restrictions or make changes in associationthe by-laws as may be required to guarantee that the project will be developed in accordance with the policies outlined in this Agreement.
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Property Owners’ Associations. 27.1 The Purchaser agrees and acknowledges that the Unit is situated in the Parklands North Security Enclave Property Owners Association and the Parklands Home Owners Associations (“collectively referred to as the Associations”), and as such, the Purchaser shall automatically become and remain a member of the Associations against transfer, as long as the Purchaser is the registered owner thereof. INITIAL 27.2 The Purchaser acknowledges that he/she will view, read and understand the Associations’ Constitutions, Rules, Regulations and Architectural Guidelines (collectively referred to as the “Association’s Rules”) on the Sellers website at xxx.xxxxxxxxxxxx.xx.xx, and agrees to abide by the Association’s Rules and to pay any monthly and/or once‐off contributions payable thereto in terms of the Association’s Rules.
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Related to Property Owners’ Associations

  • OWNERS’ ASSOCIATION 13.1 That the Purchaser shall become a member of the association / society that has been formed (details of association are given in annexure – A) to look after the maintenance of the Housing Project and shall abide by its rules. 13.2 In case the society / association has yet to be formed, the Purchaser shall pay to the Vendor such proportionate cost of outgoings such as common water charges, common lights, repairs, salaries of clerk, watchman, sweepers, etc., as may be determined by the Vendor. It is proposed that the monthly maintenance charges payable by the Purchaser to the Association/Vendor shall be Rs. 2/- per sft from the deemed date of completion of the Scheduled Flat. The rate shall be subject to change and periodic upward revision. 13.3 If the Purchaser ever fails to pay maintenance charges, corpus fund or other charges related to the Scheduled Flat, the Association shall be entitled to disconnect and stop providing all or any services to the Scheduled Flat including water, electricity, etc. Further, the Purchaser may be barred from using common amenities like clubhouse, swimming pool, parks, open areas, generator backup, etc., till such time all arrears are cleared. 13.4 The Purchaser shall pay corpus fund to the Association at the time of taking possession of the completed flat. The details of corpus fund payable are given in Annexure – A. The details of the initial monthly maintenance charges payable by the Purchaser to the Association/Vendor, from the deemed date of completion of the Scheduled Flat is given in Annexure -A. 13.5 The Vendor has proposed to deliver the common amenities in phases on or before completion of the last block of flats. The monthly maintenance charges payable by the Purchaser to the Association shall not be linked to provision/completion of common amenities. The Purchaser shall not raise any objection on this count. 13.6 The monthly maintenance charges payable to the Association are proposed to be increased from time to time and the Purchaser shall be liable to pay such increased charges. 13.7 The Purchaser agrees not to withhold or delay payment of monthly maintenance charges to the Association for any defects in construction. Repairs/correction of defects in construction, if any, is the responsibility of the Vendor and the Purchaser agrees to not withhold payment of monthly maintenance charges. 13.8 The Vendor shall be entitled to form the Owners Association and draft its bye-laws as he deems fit and proper. The Vendor and its nominees shall be the founding members of the Association. The Association shall be handed over to the members of the Association (i.e., prospective purchasers) at the time of completion of the entire Housing Project, by calling for elections for its executive committee members. Till such time the Vendor and its nominees shall run the day today affairs of the Association. The Purchaser shall not raise any objection on this count.

  • HOMEOWNERS ASSOCIATION 9.1 The Purchaser acknowledges that the Property falls under the jurisdiction of the HOA, being a new Homeowners’ Association, which came into existence on registration of transfer of the first Erf in the Development from the Seller to a third party purchaser, it being recorded that the HOA is established for the benefit of, inter alia, all of owners of xxxxx in the Development and to control and maintain roads, services and amenities within, inter alia, the Development.

  • Property Manager Any entity that has been retained to perform and carry out property rental, leasing, operation and management services at one or more of the Properties, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or JLL, which consent may be withheld in the Owner’s sole discretion.

  • Access to Properties Subject to the rights of Tenants, Borrower shall permit agents, representatives and employees of Lender to inspect the Properties or any part thereof at reasonable hours upon reasonable advance notice.

  • Condominium Documents (a) Borrower shall observe and perform each and every material term to be observed or performed by Borrower as the owner of Condominium Property under the Condominium Documents. (b) Subject to Borrower’s right to contest the same in accordance with the express terms and conditions hereof and of the other Loan Documents and of the Condominium Documents, if any, Borrower shall promptly pay all Assessments imposed pursuant to the Condominium Documents when the same become due and payable with respect to the Condominium Property. Borrower shall deliver to Lender, promptly upon request, evidence satisfactory to Lender that the Assessments have been so paid and are not delinquent with respect to the Condominium Property. (c) Lender shall have the rights and privileges which Borrower has as though Lender were in fact the owner of the Condominium Property, which rights and privileges shall include, without limitation, all voting rights accruing to Borrower under the terms of the Condominium Documents. Upon the occurrence and during the continuance of an Event of Default, Lender may vote in place of Borrower and may exercise any and all of said rights. Borrower hereby irrevocably appoints Lender as its attorney-in-fact, coupled with an interest to vote as Borrower’s proxy and to act with respect to all of said rights so long as such Event of Default continues hereunder. Notwithstanding anything contained herein to the contrary, nothing contained herein or otherwise shall render Lender liable for any Assessments. (d) The Trustee shall at all times be a financial institution or trust company having a long-term credit rating of not less than “A” or its equivalent by S&P and Xxxxx’x. (e) Borrower shall promptly deliver to Lender a true, complete and correct copy of all notices of default received by Borrower with respect to any obligation or duty of Borrower under the Condominium Documents.

  • Premises Parking and Common Areas 2.1 Letting Lessor hereby leases to Lessee, and Lessee hereby leases from Lessor, the Premises, for the term, at the rental, and upon all of the terms covenants and conditions set forth in this Lease. Unless otherwise provided herein, any statement of square footage set forth in this Lease, or that may have been used in calculating rental and/or Common Area Operating Expenses, is an approximation which Lessor and Lessee agree is reasonable and the rental and Lessee's Share (as defined in Paragraph 1.6(b)) based thereon is not subject to revision whether or not the actual square footage is more or less.

  • Property Management (a) Borrower shall (i) cause Manager to manage the Properties in accordance with the Management Agreement, (ii) diligently perform and observe all of the terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed and observed, (iii) promptly notify Lender of any default under the Management Agreement of which it is aware, (iv) promptly deliver to Lender a copy of each financial statement, business plan, capital expenditures plan, report and estimate received by it under the Management Agreement, and (v) promptly enforce the performance and observance of all of the covenants required to be performed and observed by Manager under the Management Agreement in a commercially reasonable manner. If Borrower shall default in the performance or observance of any material term, covenant or condition of the Management Agreement on the part of Borrower to be performed or observed, then, without limiting Lender’s other rights or remedies under this Agreement or the other Loan Documents, and without waiving or releasing Borrower from any of its Obligations hereunder or under the Management Agreement, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act as may be appropriate to cause all the material terms, covenants and conditions of the Management Agreement on the part of Borrower to be performed or observed. In no event shall the fee payable to Manager for any Interest Period exceed the Management Fee Cap for such Interest Period and in no event shall Borrower pay or become obligated to pay to Manager, any transition or termination costs or expenses, termination fees, or their equivalent in connection with the Transfer of a Property or the termination of the Management Agreement. (b) If any one or more of the following events occurs: (i) the occurrence of an Event of Default, (ii) Manager shall be in material default under the Management Agreement beyond any applicable notice and cure period (including as a result of any gross negligence, fraud, willful misconduct or misappropriation of funds), or (iii) Manager shall become insolvent or a debtor in any bankruptcy or insolvency proceeding, then Lender shall have the right to require Borrower to replace the Manager and enter into a Replacement Management Agreement with (x) a Qualified Manager selected by Borrower that is not an Affiliate of Borrower or (y) another property manager chosen by Borrower and approved by Lender; provided, that such approval shall be conditioned upon Borrower delivering a Rating Agency Confirmation as to such property manager. If Borrower fails to select a new Qualified Manager or a replacement Manager that satisfies the conditions described in the foregoing clause (y) and enter into a Replacement Management Agreement with such Person within sixty (60) days of Lender’s demand to replace the Manager, then Lender may choose the replacement property manager provided that such replacement property manager is a Qualified Manager or satisfies the conditions set forth in the foregoing clause (y).

  • Property Ownership The Fund owns or leases all such properties as are necessary to the conduct of its operations as presently conducted.

  • CC&Rs Tenant shall comply with all recorded covenants, conditions, and restrictions currently affecting the Project. Additionally, Tenant acknowledges that the Project may be subject to any future covenants, conditions, and restrictions (the “CC&Rs”) which Landlord, in Landlord’s discretion, deems reasonably necessary or desirable, which do not materially adversely affect Tenant’s rights, or materially increase Tenant’s obligations under this Lease, and of which Tenant is given prior written notice, and Tenant agrees that this Lease shall be subject and subordinate to such CC&Rs. Landlord shall have the right to require Tenant to execute and acknowledge, within fifteen (15) business days of a request by Landlord, a “Recognition of Covenants, Conditions, and Restriction,” in a form substantially similar to that attached hereto as Exhibit I, agreeing to and acknowledging the CC&Rs.

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