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6. 1. B. - Page 99 including the mortgaged Condominium, and except for Assessment Liens as to which a Notice of Delinquent Assessment has been recorded prior to the Mortgage. E. Distribution of Proceeds of Insurance, Condemnation or Termination: No provision of the Governing Documents gives an Owner, or any other party, priority over any rights of First Lenders in the case of a distribution to Owners of proceeds of termination or any insurance proceeds or condemnation awards for losses to or taking of Condominiums and /or Common Area. F. FHA/HUD Provisions: As long as any First Mortgage which is a lien on a Condominium is insured or guaranteed by the Federal Housing Administration ( "FHA "), the following provisions shall apply to the Project: (1) Availability of Governing Documents: The Association shall make available to Condominium Owners and First Lenders, and to Eligible Mortgage Holders and Eligible Insurers or Guarantors, current copies of the Governing Documents concerning the Project and the books, records and financial statements of the Association. "Available" means available for inspection, upon request, during normal business hours or under other reasonable circumstances. The Board may impose a fee for providing the requested documents which may not exceed the reasonable cost to prepare and reproduce them. (2) Audited Statement: Any Eligible Mortgage Holders and Eligible Insurers or Guarantors shall be entitled, upon written request, to an audited financial statement for the immediately preceding fiscal year. The Association shall also make available to prospective purchasers current copies of the Governing Documents, and the most recent annual audited financial statement, if such is prepared. [The Association shall be entitled to charge a reasonable fee for reimbursement of its costs for providing any such copies of the Governing Documents or annual audited financial statement, if such is prepared.] (3) Notice of Action: Upon written request to the Association, identifying the name and address of the Eligible Mortgage Holder or Eligible Insurer or Guarantor, and the Condominium number or address, such Eligible Mortgage Holderor Eligible Insurer or Guarantor will be entitled to timely written notice of: (a) Any proposed amendment of the condominium instruments effecting a material change in: (1) The boundaries of any Unit or the exclusive easement rights appertaining thereto; (ii) the interests in the general or limited common elements appertaining to any Unit or the liability for common expenses appertaining thereto; appertaining to any Unit; or elements are restricted. (iii) the number of votes in the owners association (iv) the purposes to which any Unit or the common (b) Any proposed termination of the condominium regime; - 55 03/06/12 T:IWPWIN601PROJECTS1333 MAIN STREEMEC - DRAFTING FORM[7][03 06 12].doc