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<br />- 27 - <br /> <br />become liens prior to the first mortgage uncer state law shall <br /> <br />relate onlv to the individual House and Lot and not to the <br />.. <br /> <br /> <br />Property as a whole. <br />Section 12.7. No provision of th~ Gove=ning Docume~ts shall <br />give an Owner, or any other party, priori =.y. over any rights of <br />the First Mortgagee of the House pursurnt to its mortbage in the <br />case of a distribution to such Owner of insurance proceeds cr <br />condemnation awards for losses to or taking of the House. The <br />Association shall give written notice to all First Nortf.~gees of <br />any condemnation 0= eminent domain proceeding affecting the <br />Property promptly upon receipt of notice from the condemning <br />authority. <br />Section 12.8. The term of any agreement for pr0fessi0na1 <br />management of the Property, or any o~her contract providing for <br />services of the Declarant, sponsor, or builder, may not exceed <br />two (2) years. Any such agreement must provide for terre~nation <br />by either party, with cause upon thirty (30) days prior written <br />notice, and without c~use and without payment of a termination <br />fee or penalty upon ninety (90) .days or 1es"S prior" written <br />not ice. <br /> <br /> <br />Section 12.9. 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 ~Titten <br />=equest, copies of the Association's annual reports and otber <br />financial statements within ninety (90) days of the end of the <br />Association's fiscal year. ~wuers holding 51% or more of the <br />voting power in the Association may require that an audited <br />