Agenda - 06-17-2014 - 7e - Laserfiche WebLink

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34 periods of ten (10) years. This Declaration may be amended during the five (5) year period (commencing from the date of first conveyance of the first Lot by Declarant) by an instrument signed by not less than seventy-five percent(75%) of the voting interests in each class of voting rights held by the Member, and thereafter by an instrument signed by not less than sixty-seven percent(67%)of the voting interests of the Lot Owners. Section 11.4. Amendments Permitted Without Membership Approval. The following amendments may be effected by the Declarant, or the Board, as the case may be, without consent of the members: (a) Prior to the sale of the first Lot, this Declaration may be amended by the Declarant. (b) The Declarant, so long as it will retain control of the Association, will have the right to amend this Declaration to conform to the requirements of any law or governmental agency having legal jurisdiction over the Property or to qualify the Property or any Lots and improvements thereon for mortgage or improvement loans made, insured or guaranteed by a governmental agency or to comply with the requirements of law or regulations of any corporation or agency belonging to, sponsored by, or under the substantial control of,the United States Government or the State of North Carolina, regarding purchase or sale of such lots and improvements, or mortgage interests therein, as well as any other law or regulation relating to the control of Property, including, without Iimitation, ecological controls, construction standards, aesthetics, and matters affecting the public health, safety, and general welfare. A letter from an official of any such corporation or agency, including, without limitation, the Veterans Administration, U.S. Department of Housing and Urban Development, the Federal Home Loan Mortgage Corporation, Government National Mortgage Corporation, or the Federal National Page 24 of 50