Examples of Special declarant rights in a sentence
Upon expiration or earlier termination of this Lease, Tenant hereby covenants and agrees to surrender and deliver the Property peaceably to Landlord together with all the Improvements described in this Lease in their then current “as is” condition, together with an assignment of Tenant’s Development Rights and Special Declarant Rights as defined in the North Carolina Condominium Act.
Upon turning over control of the HOA, Hovnanian shall be entitled to retain any Special Declarant Rights set forth in the Declaration until it has sold its last lot in Phase One.
With respect to each Residential Unit, Declarant may make such assignments prior to or contemporaneously with the closing of the sale of such Residential Unit by Declarant or at any time thereafter prior to the expiration of the Special Declarant Rights.
When the Declarant ceases to be a Unit Owner or hold any Special Declarant Rights, the Declarant’s rights to any Common Elements for the purposes enumerated above shall terminate, except that the Declarant shall have the right to promptly remove all of the Declarant’s and its agents’ and employees’ property from such areas.
The Declaration reserves certain Development Rights and Special Declarant Rights to the Declarant.