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6.1.D. - Page 21 over ACA 1 shown on the Current Phase Condominium Plan shall be subject to the terms, conditions, provisions and restrictions described in the REA, and any amendment, modifications or supplements thereto, as if ACA 1 in Phase 5 of the Development were originally subject to the REA. (e) ACA 1 shown on the Cunent Phase Condominium Plan shall be conveyed to the Association by Declarant no later than the date that is three (3) years after the recordation of this Declaration of Annexation and the Cunent Phase Condominium Plan. 7. Assessments. Upon the first day of the first month following the close of escrow for the sale of the first Condominium Unit in Phase 5 or at such earlier date as Declarant may determine, the Assessments for the Development shall be reassessed so that all Condominiums within the Development, including those within Phase 5, are assessed for a share of the total Development expenses as provided in Article 4 of the Declaration and the Association Budget. 8. Reserves for Common Area Imarovements. If the Condominiums in Phase 5 have been used and occupied under a rental program conducted by the Declarant that has been in effect for a period of at least one year as of the date of closing of the escrow for the first sale of a Condominium in Phase 5, Declarant shall, concurrently with this closing, pay to the Association the amounts for reserves for replacement or defened maintenance of Common Area improvements in Phase 5 described in Section 2.8 of the Declaration. 9. Limitations on Aaplication. Except to the extent that this Declaration of Annexation reallocates Assessments for the Development, none of the provisions contained herein shall be construed as diminishing any of the covenants, conditions or restrictions established by the Declaration, nor shall any provision be construed to discriminate between any Owner(s) in Phase 5 and any other Owner(s) in the Development except as otherwise provided in the Declaration. No amendment, addition, change or deletion in this Declaration of Annexation shall be deemed to alter or change the general common plan and scheme created by the Declaration nor shall the same affect the provisions of the Declaration as covenants running with the land or as equitable servitudes, all of which shall be uniformly applicable to all portions of the Development including the Annexation Property. 10. Rescission and Amendment. Prior to (i) the first conveyance of title to a Condominium in the Annexed property, (ii) conveyance to the Association of title to any portion of the Association Common Area in the Annexed property, and (iii) the commencement of assessments for Condominiums located in the Annexed property, Declarant shall have the right, in its sole and absolute discretion, to (a) amend this Declaration of Annexation, (b) rescind this Declaration of Annexation, (c) add any additional property to this Declaration of Annexation or subject phase, or(d)remove property from this Declaration of Annexation or subject Phase. 4 6557.02/beclaration of Annezation.One M�uim PHASG S.final