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- 27 - <br />become liens prior to the first mortgage under state law shall <br />relate only to the individual House and Lot and not to the <br />Property as a whole. <br />Section 12.7. <br />No provision of the Governing Documents shall <br />give an Owner, or any other party, priority over any rights of <br />the First Mortgagee of the House pursuant to its mortgage in the <br />case of a distribution to such Owner of insurance proceeds or <br />condemnation awards for losses to or taking of the House. The <br />Association shall give written notice to all First Mortgagees of <br />any condemnation or eminent domain proceeding affecting the <br />Property promptly upon receipt of notice from the condemning <br />authority. <br />Section 12.8 <br />The term of any agreement for professional <br />management of the Property, or any other contract providing for <br />services of the Declarant, sponsor, or builder, may not exceed <br />two (2) years. Any such agreement must provide for termination <br />by either party, with cause upon thirty (30) days prior written <br />notice, and without cause and without payment of a termination <br />fee or penalty upon ninety (90) days or less prior written <br />notice. <br />Section 12.9. <br />First Mortgagees shall have the right to <br />examine the books and records of the Association upon reasonable <br />notice during normal business hours, and to receive upon written <br />request, copies of the Association's annual reports and other <br />financial statements within ninety (90) days of the end of the <br />Association's fiscal year. Owners holding 51% or more of the <br />voting power in the Association may require that an audited <br />