Assessment Security Agreement And Instructions To Escrow Depository {RE 643}

RE 643, ASSESSMENT SECURITY AGREEMENT AND INSTRUCTIONS TO ESCROW DEPOSITORY - REG. 2792.9, this form is an agreement between the Subdivider and the Association. Subdivider has applied for a California Department of Real Estate Public Report (“Public Report”) covering the Subdivision. Prior to obtaining the Public Report, the Subdivider is required pursuant to the provisions of Section 2792.9 of Chapter 6, Title 10, California Code of Regulations to make and retain in full force and effect arrangements securing Subdivider’s obligations as an owner of separate interests covered by the public report to pay regular and special assessments. Subdivider shall pay, as and when due, all regular and special assessments which are levied by the Association against separate interests owned by the Subdivider in the Subdivision from the date hereof. The secured obligation to be in full force and effect until title to 80% of the separate interests in the Subdivision have been conveyed or leased with a term of one year or more. www.FormsWorkflow.com