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6. 1. B. - Page 100 (c) any condemnation loss or any casualty loss which affects a material portion of the Project or any Condominium on which there is a First Mortgage held, insured, or guaranteed by such Eligible Mortgage Holder or Eligible Insurer or Guarantor, as applicable; (d) any delinquency in the payment of Assessments or charges owed by an Owner of a Condominium subject to a First Mortgage held, insured or guaranteed by such Eligible Mortgage Holder or Eligible Insurer or Guarantor, which remains uncured for a period of sixty (60) days; (e) any lapse, cancellation or material modification of any insurance policy or fidelity bond maintained by the Association; The Association shall discharge its obligation to notify Eligible Mortgage Holders or Eligible Insurers or Guarantors by sending written notices required by this Declaration to such parties who have provided a written request to the Association stating the name and address of such First Mortgagee or Eligible Insurer or Guarantor and the applicable Unit number at the address given on the current request for notice, in the manner prescribed by Section 10.10. (4) Consent of Eligible Mortgage Holders to Action: The approval of Eligible Mortgage Holders holding Eligible Mortgages on Condominiums which have at least fifty -one percent (51 %) of the votes of Condominiums subject to Eligible Mortgages, shall be required to: (a) terminate the condominium regime after substantial destruction or condemnation of the Project occurs; (b) restore or repair the Project after a partial condemnation or repair other than in accordance with the Declaration and original plans and specifications; or (c) reallocate the interests in the Common Area resulting from a partial condemnation or partial destruction of the Project. (5) Right of First Refusal: The rights of an Owner to sell, transfer, or otherwise convey his Condominium shall not be subject to any right of first refusal or similar restriction, except for any City Affordable Housing requirements. (6) Reserves: The Association shall establish and maintain an adequate Reserve Fund for the periodic maintenance, repair and replacement of the Common Area improvements, which Reserve Fund shall be maintained out of Regular Assessments for Common Expenses. (7) Priority of Liens: Any Assessment Lien created under the provisions of this Declaration is expressly made subject and subordinate to the lien and encumbrance of any First Mortgage that encumbers all or any portion of the Project, or any Unit. Each First Lender who comes into possession of the Condominium by virtue of Foreclosure of the Mortgage, or any purchaser at a Foreclosure, will take the Condominium free of any claims for unpaid Assessments and fees, late charges, fines or interest levied in connection with such claims, against the Condominium which accrue more than six (6) months prior to the time such First Lender or purchaser at a Foreclosure takes title to the Condominium, except for fees or costs related to the collection of the unpaid Assessments, claims for a pro rata share of such Assessments or charges to all Condominiums including the mortgaged Condominium, and except forAssessment Liens as to which a Notice of Delinquent Assessment has been recorded prior to the Mortgage. 56 03/06/12 TAWPWIN601PR03ECTS1333 MAIN STREETIDEC - DRAFTING FORM [7][03 06 12].doc