Association Properties definition
Examples of Association Properties in a sentence
The Board shall have the powers and duties necessary for the administration of the affairs of the Association and for the operation and maintenance of the Association Properties and Common Area of the Association, if any.
Owner agrees that Owner shall neither receive nor perfect any right, title or interest in the Property by way of fee, easement or other conveyance except to the extent that Owner shall, so long as the terms of this Agreement are observed, be allowed to maintain authorized improvements upon Association Properties and enjoy rights of non-exclusive use with respect thereto.
Each Owner shall be liable to the Association for all damage to any portion of the Common Areas or Association Properties resulting from misuse, negligence, failure to maintain or otherwise caused by the Owner, his or her Occupants or the contractors, subcontractors, licensees, invitees, employees, directors, officers, family members or guests of either.
The Master Association Documents shall require the Master Association to maintain the Master Association Properties in a manner consistent with the franchise standards adopted from time to time by Franchisor (the “Franchise Standards”) for so long as the License Agreement, as same may be amended, modified and extended, is in effect, except the Master Association shall not be required to utilize Franchisor’s trademark in connection with the operation of the Master Association Properties.
The Declaration of Condominium shall be consistent with the requirements of this Agreement and the License Agreement and shall provide that the Unit Owners, as members of the Master Association, shall have the right to utilize the Master Association Properties.