Declarant’s Rights definition

Declarant’s Rights arising under (i) the Declaration (as hereinafter defined), and (ii) the by-laws attached thereto (the “By-Laws”) relating to the condominium (the “Development”) created by the Declaration, but only to the extent the Declarant’s Rights relate to the Mortgaged Property other than the NYTC Units. So long as no Event of Default shall have occurred and be continuing, Assignor may exercise the Declarant’s Rights, except that it may not (i) further transfer or encumber any of the Declarant’s Rights (except as permitted under the Loan Agreements), (ii) cause or allow any of the Condominium Documents to be modified in any material respect without Agent’s prior consent which consent may not be unreasonably withheld or (iii) allow any new Manager (as defined in the Declaration) to be elected or appointed unless Assignor shall have caused such new Manager to deliver to Agent a duly executed Conditional Resignation of Manager in the form attached to the Loan Agreements. Upon the full payment of the Indebtedness secured by the Building Loan Mortgage and Project Loan Mortgage, the Declarant’s Rights shall automatically be reassigned to Assignor by the Agent and this Assignment shall terminate.
View Source
Declarant’s Rights means with respect to the Real Property the rights of a declarant under a declaration of covenants, conditions, and restrictions, easements, reservations, rights-of-way and other charges set forth therein recorded in the Official Records, and all amendments thereto made from time to time.
View Source

Examples of Declarant’s Rights in a sentence

  • Original counterparts of an Assignment and Assumption of Declarant’s Rights and HOA Interests of Hotel Seller, substantially in the form attached hereto as Exhibit “J” (the “Assignment and Assumption of Declarant’s Rights and HOA Interests”), assigning the Declarant Rights and HOA Interests of Hotel Seller to Hotel Buyer on the terms set forth therein.

  • Such Assignment of Declarant’s Rights as the Buyer may reasonably request from K.T. Riverside LLC as the “Declarant” under that certain Amended and Restated Declaration of Covenants, Conditions and Restrictions and Grant of Easements for Riverside Industrial Center dated as of February 5, 2007.

  • An Assignment of Declarant’s Rights in the form attached hereto as Exhibit E, executed by Seller, 1000 LLC, 1200 LLC, Mirador 1305, LLC and Mirador 1125, LLC.

  • Original counterparts of the Assignment and Assumption of Declarant’s Rights and HOA Interests.

  • Furthermore, at such time as the Timeshare Declaration is recorded, BVU agrees to collaterally assign its declarant’s rights to Lender as further security for the payment and performance of the Obligations, pursuant to the Collateral Assignment of Declarant’s Rights, in a form reasonably acceptable to Lender and Borrower, which assignment will be recorded in in the Official Public Records of Bexar County, Texas.

  • Assignor desires to assign to Assignee any and all rights, powers, easements, privileges, authorities and reservations given to, reserved by or otherwise held by Assignor as the “Declarant” under the Declaration including, without limitation, all of Assignor’s rights and powers under the Articles of Incorporation and By-Laws for the Master Association (collectively, the “Declarant’s Rights”), and Assignee has agreed to accept such assignment of the Declarant’s Rights.

  • The Short Form Agreements, the Assignment of Declarant’s Rights, and the Park Place Village Mortgage shall have been recorded in the Official Records of the county and state where each respective Property is located (the "Official Records"), all in accordance with Agent's instructions to First American Title Insurance Company (the "Title Company").

  • An Assignment of Declarant’s Rights in the form attached hereto as Exhibit E, executed by Purchaser.

  • All other declarant rights under the Condominium Documents shall be retained by Seller and assigned to Buyer at the final Closing pursuant to the Final Assignment of Declarant’s Rights.

  • Seller has not assigned or transferred the Declarant’s Rights to any third parties and is not aware of any assignment of the Declarant’s Rights by any other person to any third parties.