AgdaPkt 2015-06-22 Interview and Joint SA PFA

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72 6557.03/12309 (j) Each Owner acknowledges that (a) the construction of the Development may occur over an extended period of time, (b) the Owner’s quiet use and enjoyment of the Owner’s Unit may be disturbed as a result of the noise, dust, fumes, vibrations and other nuisances associated with construction activities, and (c) the nuisances will continue until completion of the construction of the entire Development and any subsequent Phase(s) annexed thereto. Section 11.5 Termination of any Responsibility of Declarant. In the event Declarant conveys its rights, title and interest in and to the Development to any individual, partnership, corporation or other entity and causes a “Notice of Substitution of Declarant” setting forth the name and business address of such individual, partnership, corporation or other entity and a reference to this Declaration to be recorded in the Official Records of San Mateo County, Declarant shall be relieved of any further duty or obligation hereunder and such individual, partnership, corporation or other entity shall accept all such duties and obligations of Declarant and shall be entitled to exercise the rights available to Declarant hereunder. Declarant shall provide City Manager with a copy of the Notice of Substitution of Declarant concurrently with submittal thereof to the San Mateo County Recorder, and shall provide City Attorney with a conformed copy of such notice after recordation thereof. Section 11.6 Enforcement of Obligation to Complete Improvements. In the event that the Common Area of the Development has not been completed prior to the issuance of a final subdivision public report by the BRE, then Declarant shall enter into written agreements satisfactory to the BRE to secure the completion of such improvements. The Board shall consider and vote upon action by the Association to enforce the rights provided to the Association by such agreements if, within sixty (60) days after the completion date specified for a particular improvement by such agreement, no notice of completion as to such improvement has been filed and such improvement is not complete. If the Association has given an extension in writing for the completion of any Common Area, the Board shall consider and vote upon action if a notice of completion has not been filed within thirty (30) days after the expiration of such extension. A special meeting of the Members of the Association, for the purpose of voting to override a decision by the Board not to initiate action to enforce the rights of the Association under the aforementioned agreements or on the failure of the Board to consider and vote upon action, shall be held not less than thirty-five (35) days nor more than forty-five (45) days after the receipt by the Board of a petition for such a meeting signed by Members representing five percent (5%) of the total voting power of voting Members of the Association. At such special meeting, a vote of a majority of the Members of the Association other than the Declarant shall be required to take action to enforce the rights of the Association under such agreements and such vote shall be deemed to be the decision of the Association. The Board shall thereafter implement such decision by initiating and pursuing appropriate action in the name of the Association. Section 11.7 Inspection of Improvements and Release of Completion Arrangements. The Board shall, within thirty (30) days of Declarant’s providing the Board with a copy of the recorded notice of completion with respect to the improvements referred to in Section 11.7 above or otherwise notifying the Board that the improvements are complete, cause such improvements to be inspected in the manner determined by the Board to be appropriate under the circumstances. The Board shall notify Declarant within thirty (30) days of Declarant’s notice whether such improvements have been satisfactorily completed or if the Board’s position is that there are remaining items to be constructed or repaired. If (a) either the Board confirms that such improvements are complete, or the Board fails to notify Declarant of any remaining items to be constructed or repaired, and (b) either (i) the statutory period for recording mechanics’ liens has expired, or (ii) the Association has been provided with a title policy or endorsement, as applicable, with coverage in an amount not less than the cost of the improvements, insuring that the improvements are free of liens and claims, then Declarant shall be entitled to the release of any bonds, 7.1.K. - Page 76