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". .- Section 10. Access to Books and Records/Audit. Eligible Mortgagees shall have the right to examine the books and records of the Association upon reasonable notice during nonnal business hours, and to receive free of charge, upon written request, copies of the Association's annual reports and other financial statements Financial statements, including those which are audited, shall be available within one hundred twenty (120) days of the end of the Association's fiscal year. If a request is made by FNMA or any institutional guarantor or insurer of a mortgage loan against a Lot, for an audit of the Association's financial statements for the preceding year, the Association shall cause an audit to be made and deliver a copy to the requesting party. Section 11. Notice Requirements. Upon written request to the Association identifying the name and address of the holder, insurer or guarantor of a mortgage on a Lot, and the Lot number or address, the holder, insurer or guarantor shall be entitled to timely written notice of: a. a condemnation loss or any casualty loss which affects a material portion of the Property or the Lot securing the mortgage. b. a 60 day delinquency in the payment of assessments or charges owed by the Owner of a Lot on which it holds a mortgage. c. a lapse, cancellation or material modification of any insurance policy maintained by the Association. d. a proposed action which requires the consent of a specified percentage of Eligible Mortgagees. IN WITNESS WHEREOF, the undersigned has executed this instrument this _ day of , 1999, in accordance with the requirements of the Act. Mendota Homes Inc. By Its President STATE OF MINNESOTA COUNTY OF The foregoing instrument was acknowledged before me this _ day of , 1999, by John Mathern , the President of Mendota Homes Inc., a Minnesota corporation, on behalf of the corporation. Notary Public 26