Special Amendment Clause Samples
A Special Amendment clause allows parties to modify specific terms of an agreement under certain conditions or through a defined process. Typically, this clause outlines who has the authority to propose changes, the procedure for approval, and any limitations on what can be amended. For example, it may require written consent from all parties or a supermajority vote for significant changes. The core function of this clause is to provide a structured and agreed-upon method for updating the contract, ensuring flexibility while maintaining control and clarity over modifications.
Special Amendment. Anything herein to the contrary notwithstanding, Developer reserves the right and power to record a special amendment (“Special Amendment”) to this Declaration, at any time and from time to time, which amends the Declaration and any provision therein (i) to comply with requirements of the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Department of Housing and Urban Development, the Federal Housing Administration, the Veteran’s Administration, or any other governmental agency or any other public, quasi-public or private entity which performs (or may in the future perform) functions similar to those currently performed by such entities; (ii) to induce any of such agencies or entities to make, purchase, sell insure, guarantee or otherwise deal with first mortgages covering Units; and (iii) to bring this Declaration into compliance with applicable Laws, and, in furtherance of the foregoing, a power coupled with an interest is hereby reserved and granted to the Developer to make or consent to a Special Amendment on behalf of each Unit Owner and the Association. Each deed, mortgage, trust deed, other evidence of obligation, or other instrument affecting a Unit and the acceptance thereof shall be deemed to be a grant and acknowledgement of, and a consent to the reservation of, the power of the Developer to make, execute and record Special Amendments. Notwithstanding the foregoing, however, the right and power of the Developer to make Special Amendments hereunder shall terminate on the date of turnover of control of the Association to the Unit Owners other than the Developer or the expiration date of the Developer Control Period, whichever shall first occur.
Special Amendment. Either Developer or the Association shall have the right and power to authorize and record a special amendment to this Declaration at any time and from time to time, which amends this Declaration to correct clerical or typographical errors in this Declaration. In furtherance of the foregoing, a power coupled with an interest is hereby reserved and granted to Developer and to the Association to make a special amendment on behalf of each
Special Amendment. Declarant reserves the right and power to Record a special amendment ("Special Amendment") to this Condominium Declaration at any time and from time to time which amends this Condominium Declaration (i) to comply with requirements of the ▇▇▇▇▇▇ ▇▇▇, the Government National Mortgage Condominium Association, the Federal Home Loan Mortgage Corporation, the Department of Housing and Urban Development, the Federal Housing Administration, the Veterans Administration, or any other governmental agency or any other public, quasi-public or private entity which performs (or may in the future perform) functions similar to those currently performed by such entities, (ii) to induce any of such agencies or entities to make, purchase, sell, insure, or guarantee First Mortgages covering Unit Ownerships, (iii) to bring this Condominium Declaration into compliance with the Act, (iv) to correct errors, ambiguities, omissions or inconsistencies in this Condominium Declaration or any Exhibit thereto or any supplement or amendment thereto, or (v) to amend Exhibit A to include additional real estate and amend Sections 1.27(a) and 8.01(c) to reflect the fact that additional Dwelling Units may be added to the Condominium Property. In furtherance of the foregoing, a power coupled with an interest is hereby reserved and granted to the Declarant to vote in favor of, make, or consent to a Special Amendment on behalf of each Owner as proxy or attorney-in-fact, as the case may be. Each deed, mortgage, trust deed, other evidence of obligation, or other instrument affecting a Dwelling Unit and the acceptance thereof shall be deemed to be a grant and acknowledgement of, and a consent to the reservation of, the power to the Declarant to vote in favor of, make, execute and Record Special Amendments. The right of the Declarant to act pursuant to rights reserved or granted under this Section shall terminate at such time as the Declarant no longer holds or controls title to a portion of the Development Area.
Special Amendment. Notwithstanding any other provisions of this Declaration, the Developer reserves and shall have the right at any time and from time to time to record a Special Amendment to this Declaration and By-Laws to (i) conform this Declaration and By-Laws with the requirements of the Act or the requirements of any institutional lender issuing a commitment to the Developer to make first mortgage loans or (ii) correct clerical or typographical errors in this Declaration and By-Laws or (iii) complete the data on the Plat after improvements constructed at any time on the Parcel are completed by the Developer. In furtherance of the foregoing, each Unit Owner and each holder of a mortgage, trust deed, or lien affecting any Unit and each Person having any other interest in the Property hereby grants to the Developer an irrevocable power of attorney coupled with an interest on behalf of each Unit Owner and each such holder or Person to make, sign and record on behalf of each Unit Owner and each such holder and Person any amendment described in this Paragraph 7. Each deed, mortgage trust deed, other evidence of obligation or other instrument affecting a Unit or the property and the acceptance of any such instrument shall be deemed to be a grant and acknowledgment of, and a consent to the preservation of, the aforedescribed power of attorney to the Developer, to make, sign and record on behalf of each of the Unit Owners, holders and Persons described in this paragraph any amendment described in this paragraph. The power of attorney described in this paragraph shall terminate seven (7) years from recording of this document.
Special Amendment. It is the intention of the Company and the Executive that this Agreement and the payments provided for herein meet the requirements of Internal Revenue Code Section 409A, to the extent applicable to the Agreement and such payments. Recognizing such intent and the lack of guidance currently available under Section 409A, the Company and the Executive agree to cooperate in good faith in preparing and executing, at such time as sufficient guidance is available under Section 409A and from time to time thereafter, such amendments to this Agreement as the Executive may reasonably request solely for the purpose of assuring that this Agreement and the payments provided hereunder meet the requirements of Section 409A.
Special Amendment. 1. The rules governing the appointment and election of Executive Board members will be followed. For the first (3) year period, starting with acceptance of the 2012 By-laws, an exception to term lengths will be made in an effort to stagger the term lengths in accordance with these By-Laws.
A. Elected board members will be voted in as stipulated in these By-Laws
i. Executive Vice President will serve a term of (3) years beginning in July 2012 and expiring on May 31, 2015.
ii. Vice President of Travel/House will serve a term of (2) years beginning in July 2012 and expiring on May 31, 2014. A new Vice President of Travel/House will be voted in March 2014 and assume role on June 1, 2014. This new term will last for 3 years.
iii. Secretary will serve a term of (1) year beginning in July 2012 and expiring on May 31, 2013. A new secretary will be voted in March 2013 and assume role on June 1, 2013. This new term will last for a period of 3 years.