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99106377
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3/13/2012 6:13:58 PM
Creation date
10/20/2005 11:47:46 PM
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DEEDS
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99106377
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99 106377 <br /> Phases shall immediately appoint another person to be the Maintenance Director for the <br /> Shopping Center. <br /> 5.3 The Maintenance Director shall have the right, upon giving ninety (90) <br /> days prior written notice to the Consenting Owners for both Phases, to resign as Maintenance <br /> Director, in which event the Consenting Owners shall appoint another person to be the <br /> Maintenance Director. <br /> 6. Reimbursement of Maintenance Director. <br /> 6.1 The Maintenance Director shall contract for and pay for all of the items <br /> enumerated as maintenance and insurance expenses in Article 2 herein, pursuant to the <br /> provisions of this Article 6. The parties anticipate that Phase 2 of the Shopping Center will not <br /> be developed concurrently with Phase 1. Therefore, the Maintenance Director will initially be <br /> responsible to administer the Cominon Area maintenance as described in Section 2.1, with the <br /> exception of the insurance to be provided under Section 2.2, which the Maintenance Director <br /> shall carry for all Parcels in the Shopping Center from the time of the Albertson's Opening and <br /> be reimbursed by all Owners in accordance with the chart in Section 7.5. At such time as any <br /> Parcel in Phase 2 is developed (as evidenced by the Owner's or occupant's obtaining an <br /> occupancy permit for a building in Phase 2), the remaining duties (in addition to insurance) of <br /> the Maintenance Director shall be extended over such Parcel and the Owner of such Parcel shall <br /> contribute to the expenses of the Maintenance Director in the proportion that the square footage <br /> of land area on such Owner's Parcel(s) bears to the total square footage of land area contained <br /> within Phase 1 and within those Parcels in Phase 2 on whicli buildings have been constructed. <br /> Commencing with the tenth (10`h) anniversary of this CAMA, the Owners of all Parcels in either <br /> Phase shall be responsible to contribute to all Common Area maintenance expenses, whether or <br /> not building(s) have been constructed on their Parcel(s), in accordance with the chart in <br /> Section 7.5. <br /> 6.2 At least sixty (60) days prior to the date Albertson's first opens for <br /> business and thereafter by June 1 of each calendar year during the term of this Agreement, the <br /> Maintenance Director shall submit to each Consenting Owner, for such Consenting Owner's <br /> review and approval, a proposed annual budget for Common Area expenses ("Budget") <br /> covering, respectively, the First Partiai Maintenance Budget Year (as hereafter defined) (or full <br /> Maintenance Budget Year if Albertson's opens for business on September 1) and each <br /> Maintenance Budget Year thereafter, together with any backup materials reasonably requested by <br /> any Owner. As used herein, "Firs� Partial Maintenance Budget Year" shall mean the period <br /> running from the date Albertson's first opens its building for business on Parcel2, until the <br /> following September 1; and the term "Maintenance Budget Year" shall mean the period <br /> 6 <br />
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