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Covenant Rights of Deed Holders

Article VII – Rights of Holders of Deeds to Secure Debts

Section 1 – Notice Rights. Upon written request to the Association, identifying the name and address of Holder, such Holder will be entitled to timely written notice of:

(a)    Any condemnation loss or any casualty loss which affects a material portion of the Property or any Lot or Unit on which such Holder holds a first deed to secure debt.

(b)    Any delinquency in the payment of Assessments or charges owed by an Owner of a Unit subject to a first deed to secure debt held, insured or guaranteed by such Holder, which remains uncured for a period of 60 days.

(c)    Any lapse, cancellation or material modification of any insurance policy or fidelity bond maintained by the Association.

(d)    Noise. Any proposed action which would require the consent of a specified percentage of Holders.

Section 2 – Information. The Association shall make available to Owners and Holders current copies of this Declaration, Articles, Bylaws and rules and regulations of the Association, as well as books, records and financial statements of the Association. “Available” means available for inspection, upon written request during normal business hours or under other reasonable circumstances.