Common Area Improvements definition
Examples of Common Area Improvements in a sentence
At least once every three years, the review shall include a replacement cost appraisal of all insurable Common Area Improvements without respect to depreciation.
All Initial CIAC Assessments shall, upon receipt by the Association, be promptly disbursed to the Declarant to be used solely for the reimbursement of hard and soft costs associated with the construction of recreational facilities and Common Area Improvements within the Property for the benefit of the Owners, their families and guest.
Nothing contained in this Agreement shall be deemed to prevent (a) the installation and maintenance of the Common Area Improvements or (b) changes in the Common Areas in accordance with this Agreement; provided, however, except with the prior written consent of the other Party, neither Party shall reduce the number of parking spaces located on its Lot as of the Effective Date.
Upon any such takeover, the Former Operator shall transfer to the New Operator (i) all prepaid CAM Costs not previously spent or reserved by the Former Operator to pay CAM Costs already incurred or Maintenance Fees already earned, and (ii) copies of all applicable books and records relating to the operation and maintenance of the Common Areas and construction of Common Area Improvements.
The Common Area Improvements shall be subject to Landlord’s consent, which consent shall not be unreasonably withheld, delayed or conditioned and shall be included in the Final Construction Drawings.