CAI-NJ November 2020

POISON... from page 22.

pursue such good faith negotiations as may be appropriate to resolve any differences with respect to the Sponsor’s obligations regarding such completed improvements. If an agreement is reached between the Committee and the Sponsor, and the Committee recommends approval of same, then the Board shall be empowered to release the Sponsor from all liability with respect to such completed improvements, subject to such terms and conditions as may be acceptable to the Committee and the Sponsor. Any such release shall be legally binding upon the Association, provided that same is approved in writing as to form by an independent legal counsel for the Association who

The experience and solutions you need. Put the leading bank for community associationmanagement companies to work for you with the individualized service, custom technology and smart financial solutions you need. Let’s explore how we can partner with you at cit.com/CAB Matthew Driscoll 443.866.9076 | matthew.driscoll@cit.com

©2020CITGroup Inc.Allrightsreserved.CITandtheCIT logoareregisteredtrademarksofCIT Group Inc.Depositand loanproductsareofferedthroughCITBank,N.A.,theFDIC-insured nationalbanksubsidiaryofCITGroup Inc.MM#8416

24

N O V E M B E R , 2 0 2 0