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22 <br />6557.03/12309 <br />Person appointed as a manager or managing agent shall not exceed a one (1) year term and shall provide <br />for the right of the Association to terminate the same at the first annual meeting of the Members of the <br />Association after either the execution and delivery of the contract or the commencement of the term of the <br />contract, and to terminate the same at any time upon thirty (30) days written notice with cause and upon <br />sixty (60) days written notice without cause, in either case without payment of a termination fee. The <br />Association shall employ professional manager(s) or managing agent(s) consistent with industry best <br />practices, and as is appropriate to maintain the Development in a first-class condition and repair, although <br />the contract with any such manager or managing agent shall be of limited duration as set forth above. <br /> <br />(f) Discharge by payment, if necessary, any obligation which, in the opinion of the <br />Board, may become a lien against the Common Area, or any portion thereof, and assess the costs thereof <br />as a monetary penalty against any Owner responsible for the existence of said lien as determined by the <br />Board after notice and a hearing in accordance with the Bylaws. <br /> <br />(g) Enforce this Declaration and adopt reasonable Association Rules not inconsistent <br />with this Declaration for the use of the Common Area and all improvements and facilities now or <br />hereafter located thereon and the conduct of Owners and their tenants and guests with respect to the <br />Development and other Owners. <br /> <br />(h) Defend, prosecute and settle, as deemed necessary, all lawsuits and arbitrations <br />involving the Association in the Association’s own name as the real party in interest and without joining <br />with it the individual Owners in the manner described in Code of Civil Procedure, Section 374. <br /> <br />(i) Assume obligations, enter into contracts, including contracts of guarantee or <br />suretyship, incur liabilities, borrow, lend money or otherwise use its credit and secure any of its <br />obligations, contracts or liabilities by mortgage, pledge or other encumbrance of all or any part of its <br />property or income. <br /> <br />(j) Participate with others in any partnership, joint venture or other association, <br />transaction or arrangement of any kind whether or not such participation involves sharing or delegation of <br />control with or to others. <br /> <br />(k) Fill a vacancy on the Board except for a vacancy created by the removal of a <br />Board member, which shall be filled as provided in the Bylaws. Any election of a Board member shall <br />comply with applicable procedures provided in Civil Code Section 5100-5130. <br /> <br />(l) Establish and maintain separate, restrictive accounts into which only Annual <br />Assessments and Special Assessments for reserves shall be deposited. Approval of the Board shall be <br />obtained prior to the expenditure of such reserves. <br /> <br />(m) Subject to the provisions of Article 10 of this Declaration, and subject to the <br />provisions of the Limited Warranty, institute, defend, settle, or intervene on behalf of the Association, <br />subject to compliance with Civil Code Sections 5900-5920 and 5925-5965 and the provisions of this <br />Declaration, in litigation, arbitration, mediation, or administrative proceedings in matters pertaining to: <br /> <br />(1) enforcement of this Declaration, the Davis-Stirling Act or the Nonprofit <br />Mutual Benefit Corporation Law; <br />(2) damage to the Common Area; <br />7.1.K. - Page 26