Section 5.19. Manager. The Master Association may employ or contract for the services of a Manager, provided that no such employment shall be by a contract having a term of more than three years, and each such contract shall be subject to cancellation by the Master Association on 90 days or less prior notice without cause and without payment of a termination fee. The Manager shall not have the authority to make expenditures for additions or improvements chargeable against the Maintenance Fund except upon specific prior approval and direction by the Board. The Board shall not be liable for any omission or improper exercise by a Manager of any such duty, power, or function so delegated by written instrument executed by or on behalf of the Board.

Section 5.20. Ownership of Personal Property and Real Property for Common Use. The Master Association, through action of its Board of Directors, may acquire, hold, and dispose of tangible and intangible personal property and real property. The Board, acting on behalf of the Master Association, shall accept any real or personal property, leasehold, or other property interests within Castle Pines North conveyed to the Master Association by the Declarant.

Section 5.21. Roads and Streets. The Master Association shall be responsible for the maintenance of all private roads, if any, within Castle Pines North, including periodic maintenance of the surface and regular snow and trash removal, except such private drives as are located on Privately Owned Sites or private roads which are the responsibility of a Subassociation to maintain. The Board shall cooperate with the applicable traffic and fire control officials and Subassociations, to post all public and private drives, roads and streets with traffic control, fire lane, and parking regulation signs.

Section 5.22. Books and Records. The Master Association shall make available for inspection, upon request, during normal business hours or under other reasonable circumstances, to Owners and Mortgagees, current copies of the Castle Pines North Documents, and the books, records, and financial statements of the Master Association prepared pursuant to the Bylaws. The Master Association may charge a reasonable fee for copying such materials.

Section 5.23. Successor to Declarant. The Master Association shall succeed to all of the rights, duties and responsibilities of Declarant hereunder upon termination of all of the Class B memberships in accordance with Section 4.5. The Master Association shall not succeed to any rights of Declarant regarding any portion of the Expansion Master Association Properties which has not then been annexed to the Master Association Properties. The Master Association may delegate any of such rights, duties or responsibilities to the Design Review Committee or to any other committee or entity which it may choose to form.