Declarant control definition
Examples of Declarant control in a sentence
Purchaser further acknowledges that Northgate Properties, LLC is the “Declarant” under the Covenants, and that Seller will maintain Declarant control under the Covenants.
Hovnanian agrees that it will assist as reasonably requested by the homeowners for a smooth transition from Declarant control to homeowner control, and Hovnanian will turn over control of the HOA in accordance with the terms of the Declaration, the HOA Articles of Incorporation, the HOA Bylaws, and any applicable law, including the Property Owners’ Association Act.
The amount of the Real Estate Transfer Fee may be altered by the Executive Board after the period of Declarant control described in Article IV.
The provisions of this Section notwithstanding, no amendment or termination shall be effective during the period of Declarant control of the Association as provided for in Section 3.5 and no amendment may be made which will interfere with or diminish any of Declarant’s rights as provided for in Articles XIV and XV hereof.
Not later than the termination of any period of Declarant control, the Lot Owners shall elect an Executive Board of at least three members, at least a majority of whom shall be Lot Owners.