Master Association. Purchaser acknowledges that the Master Association is responsible for the management, maintenance and operation of significant areas within Snowmass Base Village, including generally, without limitation, walkways and driveways within Snowmass Base Village, the Base Village plaza areas and ice rink, snowmelt systems serving any of its areas of responsibility, exterior landscaped areas within Snowmass Base Village, the Base Village Central Plant and the residential portions of the Base Village Parking Garage, among other areas of responsibility.
Master Association. Purchaser also acknowledges that as owner of the Unit, Purchaser shall be subject to the provisions and restrictions contained in the Master Declaration, shall automatically become a Riverfront Residential Member of the owners' association established pursuant to the Master Declaration (the “Master Association”) and shall be governed by the Master Association’s articles of incorporation, bylaws, and rules and regulations from time to time in effect. These documents require, among other things, membership by Purchaser in the Master Association and payment of assessments to the Master Association independent of those to be paid to the Association.
Master Association. Assignee acknowledges and agrees that the Development Property is or will be subject to the Master Association and is or will thereby be subject to payment of certain periodic association dues for the costs of operating and maintaining each component of Public Open Space. Assignee will execute such agreement, consents, and joinders as necessary to establish the Master Association and bind the Development Property to the Master Association. The Master Association will formed and operated as required by Section 2.2(a)(iii) of the Redevelopment Agreement and as otherwise determined by Developer in its discretion, including the requirement that the Master Association organizational documents establish a tiered fee structure in which the association fees are allocated to the properties consisting of Lots 1 and 2, Block 2; Xxx 0, Xxxxx 0; Xxx 0, Xxxxx 10; Xxx 0, Xxxxx 00; Xxx 0, Xxxxx 00; Xxx 0, Xxxxx 16; Xxx 0,
Master Association. Borrower shall submit all existing or proposed documentation (the “Master Association Documents”) intended or necessary to subject the Land and Improvements to a master association (the “Master Association”) to Lender for Lender’s review and approval concurrently with Borrower’s submission of the Master Association Documents to any governmental authority required to review and approve the Master Association Documents as a precondition to creation of the Master Association. Once the Lender has approved the Master Association Documents, which approval shall not be unreasonably withheld, delay, or conditioned, the Lender shall consent to and/or execute such Master Association Documents as are required of the Lender, in its capacity as the holder of a security interest in the Mortgaged Property, to facilitate the Borrower’s establishment of a Master Association for the Project under the laws of the Commonwealth of Virginia. ARTICLE V
Master Association. “Master Association” shall have the meaning ascribed in the Master Declaration.
Master Association. “Master Association” means a not-for-profit corporation established by the Developer in connection with the imposition of a master declaration encumbering the Property and the Project, which Master Association shall provide for the care, operation, management, maintenance, repair and replacement of certain Master Association property and Project common areas, together with the administration and enforcement of the terms and conditions of such master declaration. In connection therewith and as provided in this Agreement, the performance and satisfaction of certain terms, conditions and obligations of this Agreement may be assigned by the Developer to the Master Association in Developer’s sole and absolute discretion. Any such assignment(s) from Developer to the Master Association shall be evidenced and memorialized by (i) written notice thereof to the City and (ii) a notice recorded among the Public Records of Orange County, Florida.
Master Association. The master association shall govern the open space areas within Residential use areas of the Project and shall be formed and organized by Developer, pursuant to the Deed Restrictions (defined below), after recordation of the first plat or condominium subdivision plan within the Project and before the sale of, and conveyance of title to, the first home built in the Project. Each Residential unit in the Project shall have access to open space areas that are maintained by the master association. The organizational documents of the master association shall: (a) conform to this Agreement; and (b) empower and require the master association, or its sub- associations, as the case may be, to: (i) provide effectively for ownership, operation, maintenance, improvement, repair and replacement of the open space and any other common improvements within the Project, including, without limitation spreading the master association's budgeted costs ratably against all Residential units within the Project, by annual and special assessments, each of which shall become a lien upon the land assessed and the personal obligation of the delinquent property owner; (ii) establish and maintain a capital fund to be held in reserve for replacement of the open space and any other common improvements of the Project; and (iii) enforce the Deed Restrictions.
Master Association. Buyer understands that the Project is part of a larger development know as “Empire Pass.” Buyer acknowledges that as Owner of the Condominium, Buyer shall be subject to the provisions and restrictions contained in the Master Declaration, shall automatically become a member of the Empire Pass Homeowners Association established pursuant to the Master Declaration (the “Master Association”) and shall be governed by the Master Association’s articles of incorporation, bylaws, and rules and regulations from time to time in effect. These documents require, among other things, the payment of assessments to the Master Association, which assessments may be payable separate from, or included as part of, the assessments levied by the Association. Buyer hereby acknowledges that, as more particularly defined in the Master Declaration, the Master Association has the right to assess a transfer fee upon an Owner conveying a Unit to a third party. The transfer fee equals the gross sales price of a Unit multiplied by the Transfer Assessment Rate. As more particularly described in the Master Declaration, the “Transfer Assessment Rate” means one percent (1%) unless and until the Board of Directors of the Master Association adopts a different rate. Buyer agrees to pay such transfer fee in accordance with the provisions of the Master Declaration. The provisions of this Section 7.2 shall survive Closing.
Master Association. If the Buyer of the Property will also be obligated to pay an annual assessment to a master association, the annual assessment is estimated to be and shall be paid in installments.
Master Association. “Master Association” shall mean an Association authorized to act on behalf of all Multiple Separate Owners at the HPNS property, directly and/or through Associations, in regard to the obligations of such Multiple Separate Owners under a CRUP.
