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2001-46l~l~r~~~l•~Ir~lrl~r~rR~lrrrl~~ir~ CEN 2N1 t~4136 Ilia tI2M6 Pq a i S'3~ DATES 12/26/2M1 3AI~E$ C. HATItIN6, Preparod By and Return to: tats auu~n Stephen M. Hudoba, Esq. I~t~liltt FF~S 2JS.ar Hill, Ward & Henderson, P.A. rausr ~-ew ~s.~ lt)1 East Kennedy Boulevard. Suite 3700 Tampa, Florida 33G02 DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS AND EASEMENTS FOR LOST LAKE RL.SI~~AVE (COMMERCIAL AREAS} 1bSi.t t3Spps1 i3 ~ i8 s3.~ PM cxl:~c of COURT TH13 DECLARATION is made thi day of ~ ~ , 2001, by LOST LAKE RESERVE, L.C., a Florida limited Uabitity company ("~), who recites and prpvidcs: RECITALS: A. Ikveloper u flu owns of certain laud located in the City of Clamoru. Lake Couaty, Florida, being the real progeny which :; to be developed within dse plaaned unit develapsrumt oan~rrronly rcfcrard to as "Lost Lake Reserve" (the "~"). Tho Community will be devcbped in phases for both ooarursa~il and raidanial uae. l7evalo~pa desires to maintain the intzgrity aad buuty of the Community to ass~u~c high quality ~auduc4 for the cnjoynx~t of Lost Lake R,eaerve residents, awrrdrs amd visitors. B. I)evaloper intaods to develop part of the Canmunit~- (calloctively, tho "ooa~rnencial arq°) far comma~+cial office, mt>tti-faaWr hoemag arsd rwW iiaC aad whaCia wall be ocwpied and maintained sa a r~ti-sae dev~d~vpmeot Loy the ts~ual and ooo~aron advantage of ail owrara~s aad oa~ants thaaol; wha shell own and ausp~- the Comity subject W the pranssorss of this Declaration and sdl other rules arsd rtigulsdiora, appiic:abk tD the Cm~mity. C. To provide £or the pr~xvation, ~ and maastae^ooe of the Caamao:ty acrd the i~rovemerrts tha+eors, Devebper desires to subjeu tfse ooaraaae~cial area of tlae Comacmraity, :a tray are devejoped ead impcavod, to the prdtoctive oov+ararsts, aonditioar, restrictsom, easatoentt, charts acrd Bass of this DeciarMiaa~. arils and ail of which se Los fire basefit of the camma+cial apnea of the Cammoaity and a€aw,.:.:,:.~..~'~ ,s.,~e 1laa+ooL d. To povide tar tha el~ciart ~ ad' tlse cwaoo~ecird area of Hite Ceaa~ity, Dev daems it divsiraLie b aeale a ssoa~r+olk eoepewados willi~ i`e po~nar and duty tit admmi^terie~ aril mfaea~ dat pcatecti~ ca~eoaeta, cossdtiior, ~Irictioas aad caaemaota. cbar~es aqd liens haaopalfer set Earth. aac~adinr. wittioat !, die waaiawaos aad asirrsimsistratiaa d oertasD a~oraaaaa propertlr and ~ ooiiea~oa aril iisbanaarart ad• os ooou ~ ~ t~s assessments hereinafter created, and to this end, leveloper has created or will crraic Loat Lake Reserve Conuncr+cial Properry Owners Association, Inc., a Florida not-for-profit corporation, whose membership shall include all owners of all ar a:iy part of the commercial area of the Community. DECLARATION NOW, THEREFORE, Developer declares that the Property {~ hcreinaRer defined) shall be held, sold, ocxupied, and ec~nveyod subject to the folbwing covenants, conditions, r~ictions, easements, snd limitations, wbach are for the purpose of protecting the value and desirability of the Property, shall nm with the title to the Property, and shall be binding on all parties having say right, title or infest in the Pr+opp~ty or any part therooi, their heinr, legal rcpresentalives, successors and assigns, and shall inure to the benefit of each owner theroof and Developer. I. A. Tho following definitions shall apply wltcrever these capitslizod tams appear in this Doclantiou: l _ "~" means the Ar+chitoctural Cootrot Committee of the Associatiwn. 2. "A~diturnal Prnpa,~tr" exam that land wludt u adjaomt to os contiguous with the Property, as depidod on ,~ sttachod herr~o sad made a part heroof, which lead is located such that if the land is annexod to the Dalaratioa by the Developer and its st~ooeWOri a assigns, it shall form as i>~Stod caatunity with the Propeaty. Developer of the Asaociatioa may annex Additional Pnapaty w the tams and aoaditiaoa of this _... , .... _ . ,,. _ ,:. __._ . y~.... _ _.. Declaration in the asanuar ha+esller rst forth. 3. "~~" mans the Article;ss of Iacarparatian foe the Aaaociation„ a. amended frurn time to time, a vopy of which is attaci~ed hesexo ssr3 made a part hereof as ~„~. 4. " means the amount of money eery he sssessed against an Owns for the peynxat of the Owna"s ahsre of the noses sad .- . arlalLi~ ~ the DOCIlati0lt, w~~,,,,~w-1~101~ l~lQp, "~ ~ iii Di~'d~` and , aU ar set ~otdt ®Amck Y hReof S. ~ ail Assersnreaes CaQ+aetly csr~ed by aCl! O+vner, b~etber wNh any 41e fens. isrseires~ and oases d ool>rectiaa (ioclWdies rsaapo~rbia attoroey'a fees} .rlso ~ at sooK tt~s aae~ ss~ b. "~~istion" means Lost Lake Reserve. Commercial Property Uvmers Association, Inc., a Florida nonprofit wrpvration, its succeswn and assigns, which is responsible far the management and operation of the Y• 7. "~~" or "~~ of Dircxton" moors the Board of Ditrctors of the Association. 8. "w~" means the Hylawa of the Association, as amended from time to time, a copy of which is attachtd hereto and msdc a part haoof as ~- 9. 10. ll. "Sp~7« means the Community Development District, if esta6lishod. "may" means the City of Clermont, Florida. "Common , Pty" means all Of the Property, except the Parceh and those portions of the Property which are dodicatod to the public, tagethcx with arty improverrnra~b theroon and ail personal property intended for the oommo~n use and enjaymiant of the 4wrtas and say areas within the Property which the Aaaociatian is obligated to maisaain, notrrithataodirtig that it may oat oowm fee simple titk to s~rc~h ~. The Cosrnrr~ Pmgerty to be maint:inod by the Asaoriatiat msy apecifieatily include, without limitation, rights of wsy of any publicly dedicated roads, aigoa, fencing, landscaped ~' fieatuces (including catty sign, lighting, ini~ion, satd landscaping), say lnndacaping and irrigation not heated within a< Parcel, parka, opea arw, eonaervation arcs, traturie prcs+erva, and racrratiorral fircilitics, pr+ovidod dart the for+egoitsg list shall sot be deemed to be a reprt~enwtion or warranty titat any of the foregoing types of Cosmrton Praparty r,-ill be provided. Common Property may alga include all Pasonsl propc.~ty_ awned or lased b~ the AavcisaioR and intarded foe we, by ttx Aaaociation the cxsnmon nae std aajaywatt of the Orvnas. 12. macs a system wfiich serves the Corrusboo Arcaa andlor more than oae (1) Parcel sod is daigrxd, eom~tcted, a: impieatmted to caenroi dirchargea rr~ are nooatitaaed by raimfell sveata, iooorporatia~ nietlwda ~o collect, coevcy, st+orrr. abrorb, ids~it, treat. use; err rase rester b prvv~st or t'sdttce . ovadminsg+e- envirarrneagi depsdatioa and uraler polintioo, or us ad>arvs;e allloct the quality and of diachtrge fmm die syska4 as p~etrnnted purwant oa sppiieabk ovde. 13. ' ow'tr L,al~e Costly, Flocidtt. 34. "j, maths dos D-odsshm Of Coarditiona, Rs+a~ictioos and F..aacmeaAa, err it mty bea+atrlier be artatd~ed asd s~rppienteded ~ tinse b tisaG 3 oR ~oafc tt~ poet: t~ 1 S. "~' mans Lost Lake Resern, L.C., a Florida limited liability company, its succcssan and assigns, or say successor ar assign of all or substantially all of it: interests in the development of the Property all as more fully sd forth in Mticle ~{p). Reference in this Declaration to the Developer under this Declaration is not intended and shall not be construed to imposer upon Developer any obligstiona, legal or otherwise, for the act: or omissions of third parties who purchase Par+ccls within the Property from Deveiaptr and develop and resell the saa~. Developer may aLo be as Owner, for ao long w Developer shall be the record owner of any Parcel. 16. ":hall mean and include (i) all buildings, accatory buildings, driveway:, crabs, parking arras. pavod arras, loading areas, boardwalks, sidtw:tks, pedcstriaa paths and trails, roads, irrigation lino. pumps, rocnartiaaal areas and equipment, lighting. lighting fuatres and equipment, fences, walls, hodgex, alga. signboards, lawns, landscaping, pales, utility lines, cables and oquipazeat, water mains, sewers, reclsirned water, dr:iAS, mesa-made detelttiat or retaarion sass, radio, television, telephone or any other rrccption or h~mis:ion ar~t«jrl.e, laser, csrbk, satcllitr dish or siallilar ~+psratus, a away other ~ of say type or triad, w-betber situs~ed above or bebw grautd, no~- err herarfter situated ilae Propesty, and (ii) any aresvation. Boding. fill, ditch. canal, diversiao, cuhrat. channel, swsle, bulkhead, revdiarmt, r+elruti~ wtdl, seswsll, wet err dry pond, dwm or other sauedu~e a device which rrbiey starves, directs, channels, slten or otherwise affects the vr,3ocity a fbw of water or drainage fm~aa, upon, aa~oss or urde: the Property or arty portion thaoof; to;ethar with all alterwtioos, irttprovar~tq„ addition or chrwnges thereto. l7. ' ~ s pe:soa entitbd to manbership in the Aaociation. ai provided is the Declarationsnd the Articles. 18. "" marts any bona fide fiat mortgage ~ a Parod M sacinity far the rrp~aaymcstt of s debt obligstiorL t 9_ '~" rasears way bs+dc, aavittgs and yosn sssociati~on, err athrr r+sooQtiaad ots~iprtioowl kador. _ ?A. "~' ttis^o^ the t~eeord owner, wbethar one err rnoea paisas errs elides, of the fse suapf~s title b t~ Ps~al. indadfrtB the batrar solar s ooatrad for wa apewrswrt foe dead. Owtrres sbW sat irrirde ttrass ha~rinB ss~i - iwlee~set meaty r aawcitr for the pnysawr+t err e~ayrrrt d a dwbt - Ii. '~' #tewtts cry lrar+cet of Lod islydsd fior oarnesci~ saMi'fa~j- se rwil dot sad silloars~ erpoer aq ~- saooe'iwd stri~/iririots ~iwit d >Ma i'aopartr Rsi'ierrrosa 1~cawin m '~~' tdrlt alas irr~lwds all 4 Ott 11QOtt tlt~ttb i~ii6iE t 39d Irnprovetr~ents constructed on a Parch, u>31esa specifically set forth to the contrary. 22. "~.~" tneana any permits, eaaernent or other approvals secured from various govenunental agencid and regulatory bodies which govern the development of the Property, including without liatitsrtion the Pemtits issued by the City, County, the Florida Department of Environmental Pmtoction, Florida Department of Natural Reaourcas, the Si. ]ohas River Water Maaagetneat District, the Army Corps of Eng~ars sail the Florida Department of Tra~~ortation. z3. " means ths~t catain ntal property snore fully describes is the attached Fxht~sit A taxi depicted ors attaches ~,~ sad av Additiorul Pmpaty which may- from time to time, be subjected to the tams hereof in accordance with the tcxms of Article X. Property shall exclude say potion of the land which u dedicated to the public or for !~ exclusive use by a utility cot~-y. 24. "~" anesns a group of Parcels or portion of the Pmpaty which is conosnonly deveeloped for a commercial purpose ss specified from time to time by t3it DaveWpex in a Supplanattal Declaration, in which the ~wnas of the ~paty comma tlic Tract lu-ve a etwd~moa interest, reparstta from the iaterest of aII the Owaas. Such Parcels sad theta itigtrove+mrats dtaboa any requirre a higher or ba-er kvd of ma~a~anae or nor have as an ~ certsia facilities wfiich save oily the OwnCrs of such Parcels. Fanxls is a spocifiad Tract may be obligated to pary a Tract Amt for the additional ~ of the Farods ar Tract Coeaunan Property, all sea mole tbUy bae~rtttrr daen'bed sad as set fastlt in Supplaneaptl Deelvatioa wbjecting the Trail to the teams and eonsitiom of tlhis Daclaeration. In the ewart that the Developeex eioe~s do ....... ,. ~ .. _ _ ...._. __...., _, _ devebp a pcxtion of tlic . Prvpa~ty . netdet ooodomimittm ownardsip, ~. _ coodoenit~at shall oonte a Tract tttsd Orvars's of saee~ condooaiaiam . , .._.~ . nnita ahsp be subjeect b ttie tams soil coaditioas of this Dalaratiort a: weU ax die spplicabie deelaention of tam, 2S. 'Trac _ ~mmoo P~mxtw" mesas tlsc C.onnnort Pnopaty w-pich is rostricled b tLa oosamon ore sad aogoyareat o!'die Owaa~s of one ar mac Tracy. AD a eont~iooti rarricrionr and eramraw affoer~itu Coatmoo Proparty slsall ap~y b Trtrrt C~naimm Peopasty acodp~t that tree arc aril b~anef~t of the 'Fact t3orvaaos Property sad the port of ssaiaaeoraoe s~rD be tartricbd b the Q+a-ure; in the Tlntct. ~_ 26, raarus the +pt~ar ekcla~d by t3a ~waars t~ ~ Tract, if say. for the pnpore of oeseraltiag stilh dre Bold is aartaio satrecs ooacewim~ the Tswx. S OR 80t11~ f2l~4b t~A6E i X99 lI. A~~OCIATION A. ~,~. Every Owner shall be a mandatory Member of the Association. Membership shall be appurtenant to arzd may not be operated from title to each Parcel. Membership shall be transfemod automatically by conveyaca~e of tbe: title to any Parcel, whe:reupan the membership of the previous Owner shsll automatically ta~minate. Persons or entities which have as inter+eat in fny Parcel merely ss security for the performance of an obligation ahalI not be Members of the Association, and in such case the beneficial Owner shall raetain the membtship in the Association. Provided further that, for as long as Developer owns any portion of the Additional Property, thG Developer :hall also be a member of the Association. H. Votip~,$i,~. The Association shall have two classes of voting Members: 1. Class A. Class A Members shall be all Owners, with the acception of Developer while the Class B Membership exists. Class A Members :ball be entitled to one vale for each one-tea~th (l / 1 Qth) of an acne owned. Whcu n~or+e than ono person holds an interest in spy Parcel, all such persons shall be Members; haweva, the votes far such Parcel shall be exercised ~ they shall dctexmine among t6ca~selvea, but in no event shall more thaw one vote foe each ono-teeth (1l l 0th) of m sere be cast with respo~K to say Pared. 2. 8. The Class B Manbtr sha,U be Dtvcla~pes sad :hail be eatitkd to the sok right to vote in Association matters until the ocvmrmcc of the earlier of for following events ("moves"): (a) Three (3) tryosths after the date ots which Developer owm less than tea prrcdri (10X) of the ~ggrcgats area of the Pnaperty and Additional Property (kss the C.oaamorr Area). . _ ._ _ ~... ~ .... ~ .- , ., r ._ ._- - _ . ..., . _ , . _(b) , _. StKit easily date _ _as , Devclnpcr, , in its aok dis~on, mry dctarrnizlc is writing. After Turnover, the Class A Members ms]- v~ate to ~ the naajaity of iha mambas of the Boa+nd. After Turnover, dfe Develops shall be a Clans A Mdtiba with t+capecx b the P'asrels whiff it os-ns, and ab4d1 have all tlse rim and obligatioios of the Class A Maiabcrs. 3. In addition to sbc election of dira~ors sdtcr T~tsstov~er. tfie Mmrb~ars shsU v+oie wi#h respect b certai~a sn^1ta~s all ssc --- - mote fnUyr ad fbct6 iat the Articles. 41>7anvife, the op~ftiat fed ~emesit of tlbe Assoriatioet dsdl ba versed in the Bofed lII. A. Subject b tUe lifoitshosr p[uvided eiMewi~eee iio tleis Declaratioq evexy Ow-s~ar is grsioiled s aooca~ive ~ asd pe[pNrrl awsfset of eyo~t 6 OR tioiOK X2146 PAOt: 16N in and tv the Common Property, which easement is appurtenant to and shall pass with the title to every Farrel, subject to the following: 1. .The right of the Association to take such steps as are reasonably necessary to protect the Common Property against foroclosure. 2. The right of Developer or the Association to grant easements and rights of way as may be appropriate for the proper development and maintcnancc of the Property, including, without limitation, Developer's right to reserve its for itself, its succcssora and assigns for ingrzss, egress, mairztrnance, drainage and utilities over all Common Property. 3. The right of the Developer, due to the Developer's continuing and substantial inter~cst in the development and administration of the Property, to use all or any part of the Common Property in conjunction with and as part of its program of developing, improving, constructing. an<rlceting, selling and(or lca~sing the Property 4. All provisions of this Doclaration, any plat of any part of the Property, and the Articles attd Bylaws of the Association. S. The ;ttlea and regulations governing the use and enjoyment of the Comrrxm Property adogtsd by the Aasociat~on. 6. All cements sad resuietioas of record affecting any pant of ttje Co~non Y• Provided, however, to the ezteni that any Carnmo~n Pnope~ty is Tract Common Prnpetty, as dcsigrratnd in tare dead to caavey such Tract Comanoa Property to the Association, the ttse and _ eajvymrnt of such Tract Common Property :hail bo restrided to those Owrraa specified in the decd of c~nveyarce ssfd the espaases of arnain,g sad mru~aining the sane shall be assessed solely against the Owners with ~ use rights as s Trset Amt. B. pelegation of Use. Each Owrndr sru<y detegale, to the Atticks, Bylt~wa. sad tfie DocL~tioa, his right of enjoyment of the: Common Property trod facilities to the teasota, guests. i:rvitses or livariseea who pcwpy the Panel. C. R~QL Desertion. la tlrt e:vesrt ss>)- CaRastroa Property. firilitits, or p~ ProP~y of fire Association a Developer are dams~od eK desRroyod b3- s4 UM-rw or say . of his guests, its. ittvrtea. agatrts err ennptoyoes as a rnsutt of negligefree: ex taisose, tfie Asraaiadon shall rcpait the daoat~ped area eK property in a ~ sad Nice mtoose; is acoordaeroe with the aigiraal plans and spociBptiortt erf the: aria iav~dv+oti, air as the atxa may ham been trwdiHed err slta+od subeogtt~r by the Amociatioa. The cost of such r+ep~eits sbdl be the; t~pposaibititY e-f test t?wner sod s~ralt be s Par+od A~etst„ payable bq the ~apwnwbk . Ow~rer imn~ed- sipasi rayei~t of a writ~esi iseroice: err: b. Each Owner shall. at fire Ows+ess aasit and keep +si1 parts of his Pasai. iRS~ tic cles and fee ot'dsbriR asd iw jpod odor srsd:speir - . Eadi Owner s6vi s~leo sirrstaiss alt Mtdsrapis; ores his PathL. '1Le iosegoisK aiii~tioa sirri .. 7 ~~ e170K a2s45 PAGE 1611 include al! maintenance, repair or replacement roquired because of the oecurnnce of any fire, wind, vandalism, theft or other casualty. All maintenance and repair shall be performed by each Owner at regular intervals as shall be necessary to kelp the Parcel in an attractive condition and in substantially the same condition and appearance as existed at the time of completion of construction; subject to normal wear and tear that can not be avoided. if an Owner fails to comply with this covenant, the Association, after ten ~ 10) days wi.ctetr no#ice to the Qwncr and with the approval of the majority of the Board of Dirxtors, shall have the right to enter upon such Parcel to cornet, repair, r+estoro- paint, maintain, and landscape any part of such Parcel. The cost of such repairs or maintenance shall be a Parcel Assessment, payable by the responsible Owner immediately upon receipt of a written invoice or statement therefor. 1V. ~Q 1~,~QN~R4PERTY.~ND F,AS~MElY7'S A. common Frooerty. 1. Title. Developer shall retain title W the Common Property until ouch time as Developer conveys such Common Propcriy or any portion thereof W the Association or the CDD by recorded iaadvmextt. All rtianaining Com~atan Property not deeded to the Association or the CDD shall be deemed conveyed to the Association, without further act or deed by Devekoper at such time as Dcvclopar no bnga owns any of the Property. lti'otwit~ia~ing the foregoing, rte part of the Canragon Property may be conveyed to any party (other than the Association err the CDD~ dedicated to the public {other than the roads and casements as shown on the plat of the Property or ere otbet~vise necessary or canvcnient for the deveiopnieat of the Property), mort~agod, or othcnvise e~berad without the written cocwcnt or vote of the Class A Members as provided in the Articles of lncorpOration. 2. M~in#~nc..~. It shall be the duty of the Anocisdon to manage ar,d maiatsin the Cvtnmon Pmperty in a clean, attractive, sanitary and saviceabk cvrtdition. arid. in good order and rrpair..itt icwtdance with a 6rso!~lass coatttxxcial d~iapa}ar~ut.- . ~_ .: _ Tb~e Association': duties sitsll ooQao~tamoe upon the oompietioa of any n'nprrn-~atts upon the Common PtoQnty, inrspec~tiv+h of which entity bolds title tlianeto, sad shall iinchide the matNgamrnt, operat-ae. mainteaaoca, repair, sa vicia~g. replse~t, sad r~e~ewsi of all imptrn-ar~nts, es{uiprt>e~, and tangible persottai property ia~Iad by Developer as a pa;t of tlbe Comtttoa Pr,oparty-_ The Association ttl~ keep the impca~~ located oa the Coasmoa Pmpaty, iacl~g 6xttms and pasoosl pr+optRy of the Association, insured ~ the ~ortauam ~ ~ vahr~ atcledia~g €QUadatian sled enatvation costs. as dcxamined by the bored of Duectats. 7'be Assocriation 11hnU a~ mt~r all laada~ring at the Catttmoo Property, provided, ho~wevnr, that tamer Dev~elaper rror the Asrociattiort shill be doaard a gnarantar of ouch laodscapa~. B. j~j~y_~~. De++~cioper reserves for ~ ib iuccYwoA. aaaipte sled designees, ~ without limitation the (Sty and Casaty, a tea foot (Ifi7 P . noaooelttaire aesesaak over, ceder, and ae~oas the front of etxh ~arod Eor me iweallwtian, ~ -. and of tetilities. ioeheda+~ wit>!tvat lumiaatiaa u-atkr. aawar, ee~rse aestl ieriptioe lbioos and fns drmet~. it< the ev~eett th:t the Owser tfidl e~oaettuct air wig at~r t o~ twos t~ ~ its easement area speciftcalIy reserved on a Parcel, and in connection with the exercise of the l3eveloper's rights hercundc:, the Developer is naquired to remove such improvements, the repair, replacement oc restoration of such improvemzrtta shall be at the cost and expense of the Owner. C. common Storrnv~ater M~t~ement Svstcm. . 1. Mg~tt~artce}J.+~t. Certain portions of the Common $tormwater Management System may be maintained by the County and/or the Association. In connection therewith, the entity providing maintenance is hereby grsnted a perpetual, nonexclusive easement for ingras and egrcas, at all t+easartable times and in a reaavnablc manner, over and across the Common Stonnwata Management System and over any portion of a Parcel which is a part of the Common Stormwata Management Systems, to operate, maintain, and repair the Gammon Starmwater Management System as roquircd by the St. Johns River Water Management District ("5JRWMD") ppmit. Such right pcprcasly includes the rig~tt td cut arty trees, bushca ar shrubbery, to make a>yy gradinga of soil, construct or modify any beam: placed along tha resr of say Par+ala as part of the Common Stormwater Managemest System, a take any other action reasonably nooessary, following which the I)evelctpa or outer maintenance entity shall rca<a+e the atTected prapaty to lies original +mnditiona as nearly as practicable; provided, however, that Dcvolopa or nuamte»aace artily aball trot be roquit+ed W replace or repair fe:xss, ivalics, strucnarea. landscaping, or otltes improvcmeats which are removed err damsgod. Dcvelapa or nsaintatartce erttily shall give rasonable noticx of its intent to talcs such action to all aff+octed Owaets, unless, in the opinion of Dcvekt~tet or ataintatanoe eatiiy, an cma~gatcy exists which precludes such >soticc. arc rigbt grsntod Mein may be exariaed at the sole option of Developer or mainteaartce exttity and shall not be taoWnod to obligate Tkweloper a maintawrcc entity to take any affirmative action in coon tttuewith. Ttte Owneas of Parcels sdjsccat w atry portion of the Common Stormwster Management System are gcsnted a perpetual, nonexclusive meat for ingrrsa arid egmsa ova sod acivss the Common St~orruwater Mtma~d~xat System for the purpose of - ~-providing- ~eoaooc and •aaosioa ooatrol to _ t3te . ~ of wdt Com:aott ... Stoerrtwata Maa~dmcal Systeaa. 2. ~. T'he Devcbpcx nerava titre right, to be e'xcrcisod in its aok dim, uQ perform the ma~atatsoct, eperatioa, and ~ of rice Camrroa SwnawaeDer Mart Syatam im aaoa~a~ with the Permits and subject io the ruks sad regglatioos of S7RWMD a to apipt soot rights sad obligations so the City aad-cr Carnty err the AAOCiatiart. The Owaeas df Paentls ad~jacanl b the Cwnmoa Storarrata Maaag~emant System shall rrmo~r+c aa~d dispoac of trarh wfiich wsy aoatmalate lies the Coattnoa Storrnwata Maeta~emaot System. thsil ataietssat all a6ardioc ~ioo sad the Bade and oonaoat of sit m the wat~a ~ (era a ~Y the acrd fall fnoot time m tieaa}r aiiaU beep the Mass. pladio~s, sod otlrar Islas! s~rort of toe anbadrments io a eleae nerd afe marina so ss b pt+erent esoai~vn. hs dre ~: riapoaj- sot m remove naeivae ~etapaa {a~L ad tat) ebrt becrao~e establa6ed witlrio the w~+et ret+eaoaa sad d~plmtion poatds sbaai~ err wiWirt srrdr Uw~rtar'i Pnmrl. R~aaro~rd ioelndrs dtor~rrg, dre ~ of ltatbicide and s7ttis~. O+asraes shadd address aql- gpations r~ardiaj rtrtharised activities w~ia tie crest eate^taaa awd 9 OR 60iN< g2i~i6 A~16E 1 W3 detention ponds to SJRWMD. It shalt further be the responsibility of each Owner within the Property at the time of construction of a building or structure, to comply with ihie conutruction plans for surface water management system pursuant to Chapter 40D-A, F.A.C., as approved and on file with SJRWMD. 3. Imnrov_c~ertts. In tl~e GVC~Tt that Developer, an entity designated by Develaper, or the Association shall cortsttvct any bridge, decks, bulkheads, ar other improvements which may extend over yr onto the retention and detention era within the Common Stormwater Management System, or shall construct any similar improvements to support or ea~hancc the Common Stotmwater Management System, the Assaeiation shall maintain alt such improvements in good r+apair and condition. No docks, bulkheads, or other structurca, permarxxrt or temporary, shall be constructed on, ova, or under any portion of the Common Stormwater Management System without the prior written consent of the ACC, which consent or approval may be withheld for any mason. Any imprvvemertta to the Common Stormwater Management System installed by any Owner shall be maintained by such Owner in secor+dar~ce with the mainteaaace provisions of this 17cclaration. AU impr~nvemcnts tv the Common Sto::nwater Mansgemeat System shall also require the prior written Approval of the SJRWMD. 4. Use #~.~. Developer shall have the right to adept r+easoaable rules and reguisiions from time to time in caonooctioa with the use of the surfacx rosters of any p~xiion of the Coanmon Stornrwaicr Management System, sad :ball have the right is deny suck use ro say persosr vvhv, in the opinion of Ilevclopcr, may date or participate in a dist<u~sace yr nuisarx~e oa say part of the Common Stvrmwsta Maaagcaneni System. The u:e of wch she rosters by the owners shall ix subject to srd limited by flee rotes and regalstia-ns of Developer, all permits issued by governmartsi authorities, ar~d say rights graennted to. other paxans pursuspt to the ntla and rations of Developer. The Owners shall l~svc access b tare Cammo~n Stormwa~ta Maeugemast System only ova tttst portion of the Common Ptiopaty desgasted for such propose by Developer. Only DcvetopKr shell have the right b ptnnp a odserwise t~dno~-c sAy water ~ ~Y P~ of du Coma~on~Stiorma-ster hl~sgaaar~ System- for purpor~es of irrigstioa • ~.~;r-~. _ >..~, --. ~ .. a say otba use. No gas or diced driven a-atercrafl shall be operated oo say patine of the Coann+oa Stor~mwata Msonagrmaat Syskm, including the Msation sad deterJtioo lakes (a[expt fur' approved msrinie~ace aCtivitia). S. j,~,~y_ NFaTHER DEVEI~OPER NOR Tt~B AS5Q(,`IATION SHALL HAVE ANY LIfARI~'IY WHA?50EYER TO OWNERS. OUES1'S. TI~IANTS. OR INYI'I'F.ES IP1 COA1tdEG'i'lUN WITH THE RETENCION AND DETEI,TTiOtY LAKFS AND DRAINAGE FASTS OR ANY PART OF THE COI~rtOl+l 5`PORMWATFA MANAGEMENT SYSTEM. F.A[.7i O~itNER, t?OR t'I'SELF AND ITS G1JF.S1'S, TEI+IANTS, OR INVIIFLS. RF1.F.A.4ES - At'iD THE A~SSOCiATiO2V FROM ANY IJA8II..1TY IN OOI~QYEGTlON - THEREWI'I'li. 6. ~-~~~ L~aed F7eadaiaios. This Declseatiott is aabjert a drat rigbits of ffi~a Stare of Plaids o~ pocfioer oC drc Peropsety w-liidt saay be - oaaid~airsd wroN^ods. maei6ert. 8aodpisi~s, sasasiprtr ar jwlsdiiGtiasni I^sds- aMd e~eey l0 ~ ~Op{ X46 P~ l fi~4 Owns shall obtain luny permit necessary prior to unde:taldng any dredging, Ruing, improving. landscaping, or removal of pleat life existing oa his Parcel. Further. in the event berms or interceptor awales arc constructed within Parcela which are coutiguoua to any jurisdictional lands, the Qwnas thereof shall not remove or modify the betms or interceptor swales, without the consent of the applicable governmental entities. 7. $j is of the S~wMD. Notwithstwnding any othar provisions contatncci elsewhere in this Declaration. SJRVYMD shall have the rights sad power anuaserated is this paragraph. SJRI~MD shat! have the right to enforce, by a proceeding at law or in equity, thF pmvisioas ooataiaod in this Dxlaration which relate to the maintenance, operatiao, and repair of the Common Starawstar Managcateat System. Any repair or roooastructioa of the Cowman Stormwater Maasgcmeat Syat+an shall be as permitted, or if modified, as approved by SJRVYMD. itlo peraoq shall alter the drainage flow of the Common Storrmwatex Management System, including any buffer arena or swale:, without the prior written approval of SJRw'MD. Any amendment to this Declaration which altos the Common Stormwater Manageineat Syatan, beyond cnaint~anaace in its original condition, including the water mraaag~rneat portions of the Common Pt+apetty. must have prior written approval of 57RWMD. la the event tha! portions of the Cornnaon StormwaEer Management System arje maintained by the Associadioa and the Association is diaaohrod, prior to such dissolution, all r'biliry r+alatiag to the Commmon Sta~naw-ater Managamart System moat be s::ignod to and acctptod by as equity approved ~y s~RV~. D. ':~ Devdopa, its successors sad assigns eltaU have the imrestrictod right, without approval a joinder of any otla;r pawn or entity: (i) uo designate the use of, alienate, r+ekaae, or atha~wise assign the cuwaaeabt sbawn in the plat of the Property or desenbed herein, {ii) to plrt or r+cplat all or say part of the Property orvrreai by Developer, sad {iii) b widen a extard any right of tray ahowm on arty plat of the Property a ppuvert a Par+cd to use as a rift of way, pmvidod that Developer owns the tsads a$octad by suds change. Owners of Psrcxls subjaet to easaneats shorvtr oa say plat of the Progdty shall acquire ra ngbt„ title„ err ... is f ~, ~ ~ faa7itie:.plac~ed ,.,.. ~ ...:.,~a ~.; #. ~, ,<-~-~-.~.~.~ say-o thecables,, condtnts,,pspa,~=msros,.lmes, era, orer, ar uadar the aieaneat areL The O+vaess of Ps;rrls wbja~ b say eaemae+ate ahsil sot oanagruct any impr+oveu+aRs oa the auaatent as+eas, alter the epw a drainage. a lain asrdr arras wilt hedges, ireea, a otlrar laodeeape it+cnu first might iaterfsre with dre cxerrise of the eaaamiart ri~rb,. Any Owner who c+oaitrrrc~s say improvamarts or lsodsespi~ an such oaeemast arras shat! certrov~e the impr~ane~s a Irrdsc~pe moms upou w-rium r+equUt of Den+ebper, fire Aseociatioa~ at the gt~rtloe of the wseareat V. _ A. Fa adr Par~ad .ridsie t6a property. Dsralopor co'r~Mr. sad Owua, by accaptrooe of a deed a athrr aoa+Kyitcsr agog b pry Aasssl AseeaaseeaM~s . ~ levied by tlse Aseociatioa for the ' maiaiaaroc~q sad bpe=atior of tine Cas^ood Property, isrisdi~ag. rriioat lmaitatior4 tlss aaaraPent arcs d titre Aoodslioo, and ttre lisaisiieg of a~-ioa ere art bedit list lie Dacrration and a>l pawl acdYitise sad ll oa ttooa 112446 t~ t t~ expenses of the Association incurred into administration of owners and duties grsntod under this Declaration. As further hereinafter described, the Board of Directors, by m~yority vote, shall set the Annual Assessments at s level suf~icicnt to meet the Association's obligations, including any contingencies and reserves it deems necessary or convenient. The 13aal+d of Diroctora sllxll set the date or dates such Annual Assdsmcntat shall become due and may provide for collection of Assessments to be payable aru><ually or in monthly, quarterly or semi-atmttal inat~Jlmenta; provided, however, that upon default in the payment of any one or more installments, the entire balance of such Annual Assessment may be acxeleratcd, at the option of the Board of Directors, and be declared due and payable in full. B. ~~al Aaaosstnr~t:. In addition to the Annual AssCttammts, the Association may levy, by rtu~jority vote of the Board of Directors, a Special A>sscs>anent for the purpose of defraying, in whole or in part, the cost of any reconstrtictYOn, repair or replaceuncnt of s cagitai improvement upon the Common Property, including fixtures sad peraor>lal property related thcr~w. C. Ths Association may alas kvy :a Ema^~cy Asseas+oaent st any time by i majority vote of the Hoard of Directors, for the purpose of defraying, in whok or in part, the cyst of gray extraa~dinary or emageacy matters drat affect all the Coffin Psrpa l3 ar :K~hu-r: of ~ Association, mc~udiag. aka dq~etion of entry applicable reserrex, my imexpocted expeaditura not proridod hoc by tlbe Baudget or unanticipitod iocrases in the amounts budgeted. Any FauieYg~erlcy AsscaAa~ shall bet dne and payable it the time sad is the msotuler specified by the Board of Directors. D. ~l~t*- la addition to the Mmlal sad Special As»atsts autboriz~ed ibvvr, the Board of Diroctolx, by oajority i-ot+e, may from time tp lima levy a Pac~cd Amt a a particular Parcel and the Owner ttier+eof for the pupoia of defraryirlg, is whole or is part, the cost of say rspiir, maisa~oce or ratonrtfam as provided basin; toorr the ,: w..:.....r=r1~'.tloRriC~r',+or,;r~llit?'QK,~+,C'aptt~l..aM~~ ~~01>r a: ._ .a.~s,. - »a.»-r; arts,::+s.o- .. ParcCl, 111Clildin$ ally addlti0aal ipeClil sa'viaat t0 stldt Pae~cei, d1e COtlt of w-61d1 >* oat mcllidod m the Moral Asaessrned; or b rairnbtltste the AafOe:Ytit7n far arl)- Costs sd mcnrs m a rCgllt Of the Q+waers falhua to fly wntb tttts Deelsrahon a aa)r dsmige t+a the CeosnlOn Pr~opaty. E. ~ Tlye Board of D1reCtoa >asy levy, ftONl tame oa dine, a Tact Aasaeaaa>It, rvlaiCb ftMiri Mall be used for t31e pl>:pvrei o~ 1. Irapravaslept. ma~^n0a„ alyd aperatioo of the Tract COm1DOQ PropQq-~ aU Cat eboreof f+or operstloq ~ and ~• mciadim~ wMboalt ba'tltatiQB, illy ~ ~ Or X00- e~1CC aloe ~ ~~li~ Niter ~ ~~aCt, arf,~101i, ~ ~ Ow! I~eDOI'atlMe ~L'l11tJd N!d a~/ t3~0'Yp~i„ dl~~~d ~[ tttie sole Ills Of ~ O~waO[s ~ t~ ~ 2e Upjrlded mn~mteaors a ~ad0a aletvtcta to OwnsO[s wry tbe'hact; _ 3. FcR sock alller plsrpOM,+s aft are !~ gcedl isl me lilr~ll^nrwt4r3 De~oa eagrbMibirr~ the Tian. l2 o~ ~oou ~s+6 a~ tc~ F. Comgl.~rhgnt of Annual sad ~r.~$p~. The Armual Assessment and any Tract Assessments provided far herein shall commence with respect to each Parcel on the date of conveyance of the Parcel. T'he initial Annual Assessment on any Psrcel aubjxt to Assessment shall be uallected at the time title b such Parcel is conveyed. During the initial year of ownership, each Owner shall be responsible for the pro rata share of the Annusl Assessment ar Tract Assessment charged to each Parcel, prorated fmm the day of closing to the end of the calendar year on :per diem basis. G. N~,gvment~fAasesamatts:Bsm~e~ofthe A~acistion. 1. Crealiot~ of Lien. The Assessment Charge is a charge sad continuing lice upon each Psrcal subject to this Dalaration. The lien provided for in this paragraph shall be perfected by the filing of a notice of lien in the public records of the County, in favor of the Association. 3• Qw_~~~ptance. The Assesaer~eat Charge is also the pasongl obligation of the person or entity which was the Owner of such Parcel ai the tiax when the Assaansnt was kviad, and of each subsegt~i theroo£ Each C}amer of a Parcel, by acceptanoc of a doed or other transfer dowmeat therefor. wbctha or cwt it shall be so expreasod in :arch dead or transfer document, is dcanod to coveerant and agree to pay b the Association the ASK established or describod in this Article. Each t2vrricr, ~ his ac~ceptaa[x of title b s Paraxt, apresWtY vests in the Association the ri$lat and power to being all actin spinal such Qwner personally floc the collection of such A:sesamaa Charge as a debt and to esafoer.e the afor+asaid by all mods available for ale enfotear~ of such tiea~, including foreclownes by aQ action brought isr tax mime of the Association in a Idce manner sa a mortgage lieu oa rzsl propd'ty, acad web t~wrrer is deenned b have gtaoted b ttae Association a power of ask in conooctiost with such ties No Owt~es may waive or otlxewise escape liability for the A:KSaaiatu Cbar~e by abaradoaa~neat of his Parcel or waiver of the use of the Coemnaa Property. . . ;W,._,. 3 ..=Late Fo~~,Q~..J~.A-not„pu~d uv~tlnn: ta-.. j1A ..days afta,..r ~:.~.,,__ tbeduedate shad be subjod b a ~ fee as deeetmiaod frram tiaae b time by the Bond of Director. and mty, a~ t~esolutim of the Boxed of Die+eet+aca, beat ax a pare~e rate aldermiaed by the Bosxd of Diraactats. 4. . The Asaociatiat mq- bcicaf an scxiod st !nr- aa~pat the Owner ply obligated ~ P:Y art AsaosanK~ot ~ ax may iorecbre the lien ag~irt t[ae Pss,cd upon wltida the Aasda~t Chsege is rwdR iw the rexpeaer provided belo~w-.17ae Association. actin oa betaatf of the Owaers. sllsall h~ the power b bid ~r ast iimoeaat im aey Pared aR wch fonecbsat+e ale sad b aogaritre. bold. lease, moet~ and eae{a~eep the acme. K 'Jbe liar of ~ Asseaameait Crane ahaU ba ietlerior and ~ b the Bea o[agy IKotya~ee, but aeda- b the sstaat o[ Ire l~oe~aBe bslrooa outstaaKiiua~ err of the dMe the watice of aai Aweraerar+t Cbeie~e war ikat caae~oeded s~sirrt the Passel. plea ~ sad ranrocas~a Doers of ooihxdoo aCa~aiasf tbaroaier. Trs safe at Ieaeedear of nary Taecet erap sat amt tier Aaae~aisaat C6er~ lsow~a~ tba safe at' tsserlltt of 13 QR AOdc !~6 DH6E 1617 any Parcel pursuant to foreclosure of a Mortgage or deexl in lieu thereof shall extinguish the lien of an Aasessrrunt Charge as to paymesnts which becunc due prior to such sale or trausfcx. Na salt or transfer shall relieve the transferee of such Pared from liability for any Aaseaame~ts thereafter becoming due or from the Iien thereof, nar the Owner responsible for such payments from such Owrlet'e personal liability as provided herein. Mortgagees shall iri no event be responsible or liable for the collecixon of any Asaessrnents. The failure to pay any Assessrnrnts shall in no event be deemed to constitute a default undo any Mortgage by reason of attything cantainod in this Dexlaration, unless otherwise expressly provided in the Mortgage. 1. . 1. ~~~. The fiscal year of the Association shall consist of the twelve (I2) month period commencing on October 1 of each year. 2.In~ BudQ~et. Developer sha11 establish the budget for the fiscal year is which a Parcel is first conveyed to an Owner other than Developer or a builds. 3. ~rn rov oal f Anng$1 Buduet. Commencing Qctoba 1 of the year in which a Farces is fast couveyod to an Owner athea' thus Developer, and oa or before October 1 of each year thereafter, the Board of Dinxtoars shall adapt a budget for the coming year eontauning as estitmde of the total amount which it oonvders ruowsty tti gay the cast of all ~ tti be incurred sty t13e As~ociatiosr to cary out its re~poosibilitics snd obligatiasts, including, without litttitation, tbt voRt of wsHes, makriab, iaeausnce pt+cmitmna, sesrviecs, supplies, sad otbex expeursea for the rendering m the Owners of ttl sesvicts rcquirod or permitted bes+euadex Upon the sale of the first Parcel, dye Board of Directors sha1I adopt ate iatedira brdgd foe- the partial yar baw-e:ea the date of acerb sale sad the exact sucaooding October 1. Such bedg~rt may also i~lude such rcasonabk amounts as the 13oar+d of Directors ooosida's uocessary to provide woriUag c~rital for the Association. and to provide floc a gp~eral oparatirlg reren+e ~ reseave~ for ~a sad t+rplaamarrts. The Bouts of Dit~eeto[s shall make: available ..,..,.-..- Y,~to~.e~ach-Chvz~.a .copy of -the. b~ud~t, in a rwooably itemizgd~fo~m rrhicLscts,;.,.~be, ~.; a: amount of tbe: Areutsl Assesanseats payable by ach Owner, oa or betoro Septanbex t preceding the fiscal year to wbuch the badgCt applies. 4. Upon atsbtiabigg the annual b~dgct, the Hoard s1,aU a~abti+sllt the Aaatal Aaaasara~t so be aoietosed artdt ParaL A Parod's Amwl Aaaarment shaII be: deaaeaa~ined by ~ the aonQal btrr~d awblit~tad by the Board by a fisctia>, the rwmaalor of s is the acte~e of sgcL Parcel, dexamioed tv one ted~t (t/10~ of an au+~ sad die ~ of r We t~ acrpges of sit of the Pr+apexty sad Addbt~ioaal Propoety is inleaded b lse . devek~x+d as c~amsnarial area wichea dre C.oaamwity (moss aa~r C',aotoeon Prapugj. datarntined to sac teredt ~i/l(i~ of sn arx. . s. The Board of Dis~eeeoet tau aeshWh. llnr base tb tienew airy Tara Aaaessardw a be wkrttMed r sat foeth is the Srpplaasralsi Dedatttpoo far adch Traex. Each a-~e^r, p~ a a^tablisr~ the Trset A.~.e.gr. the Tad Coamrie~oe, J apgrrirMsd, sary a^lbarh s propaed for ties Tend Aarasaaart b ties l~4 t]R trod( tt2'!~b ~A6E t 61a Board. The Board shah review the budget proposed by tho Tt~ct Committee and, if it deems it rtasoaablc, shall adopt the budget so praposod and levy the Tract Asseasrnent in accordance tlterewitb., or may tnalce such modifications thereto as it dims rea:onsrtiblc and nocestary. 6, gc~«ti-es. The Association tray. in its discretion, maintain such resaves as it dooms reasonable or nocc~sary for (i) working capital, (ii) contingencies, (iii) rtplacemcnta, and (iv) the paformance of each other coordinating or discretint:ary functions not cAntrary to the tams of this l7oclaration which the Boats of DiraKots may fi+orto time tv time approve. The amount xnd manna of cotlect;on of reserves shall be as detertnined by the Board of Directors, in its sole dist~+etion_ F.xtrAOrdinaq- expenditttrca not originally incl»ded in the annual budget which may become neeessuy during the year shall be charged firrR agairtat such reserves. Excxpt in the watt of as anergency, reaerva accumtilated for one purpose may rwt be arcpadod for any other purpose ttnIess approved as a " ~ " (aa deacn'bod in the Articles). If the r+esecvea arC irtadcquate fur any reason, inclstding norrpayttxxrt of arty Owna's Assessment, the Baird of Directors rnay, at any time, levy a Spocial Astesaa~t in acoordarxx with the pmv;aona of -this Aficle, which may be payable in a lump sum or in ittstalla~ants :s the Hand of Diroctocs may detartnine. In the event thae a a balance of resaves st tha end of say focal yar and the Board of Directaa sa determines, any ettaas rcaen-es msy be taken into aovount in csdablisbing the next year's bodget soil may be applied to defray tai ~ ir~urrea thereunder 7. gf,~ailure to .Pt+eoar~e or Adotatl . Tha fi~iltrce or delay of the Board of Directors to pc+epat+a or sdopt an artrutal budget or adjustad bdgd for say fisprl year shall not oonttitute a waiver a ukase in airy maema of an Qwncs't obligation to pay his Apestata4ts, ss hei+ein pt~vvidod, wfacacver the same s~til be determinod. In the absence of aEty a:nftul Aaoeiation budget a sdjrsstad bud,~t, awh Owner shall oootirme to pry the Amwal Asaassnmt at the than costing rate established for the previous fiscal period. in the naiartna such papnwnt w-as prsyioe:aly due, ~ notified otherwise. 8. Except st ofbarwrise pm-idcd hes'tin. all aunt caolladbod by the Bflacd of Directors w-itli respect !o Astettmanta ag#iost the Owrnris may ba in ~ simgk fwd. J .The toUo~-in~ psopatia sub~eet to tip DoclaraciosR shill be «anptal rraa the AssoarmrotAs, Astiesamestt (~, and tieut sresroed ba+aa: to au poperties dodicated a and aaxptod by a gorveramaiprl body. ttgeacy err aatboci:~r; and (b} asl Caasnm Propa~ty: AI[ Parc+e4 sad RopQtr vrvnod hj- D~+e~opet (mom w-it~roMt Wsitttioo, as~r Pared treed a kaad by Dnvdoper~ aha>~ bt e~xaanpt fi+om paymrittt a~AsaeaneaM~s !a a logg its ~+-elopar liaads say de6c~t in the am~1 btd~et. D~eveioper sin11 lisgd :stilt tetpattes oily sM tllrey art; aca^Uy inasmed b~- ttis Aasa~ae dlstites tlbe pedc+d drat Dertiopar is Ilse de~iieit. De~raopes'sc abiiptioo a thud a~- defcaitt t6uu tiermiaale a :sue tine: Dart~ioppt, iia . _ ~ svk d~aetioo. deck b pry dr~a i+ltasssseat ix ~ Pend ow-oed bt- iii, err a~kr'ltirao+~ar, rlall Rqt oiOC~ DOVeibpsr wly, ~ q slot ob~rted for ~ tllda 47re~p4ort ~ tD air sadly d m/,y ~sisttttind, ncllaitg wi~out ~~ ~ bti~dQ' owni~ il~rvelt ttpidy ~ lS oa Bpprc ~6 pqa~ t~q the purpose of constructing Improvements intended to be sold to ultittiate purchasa~s. My such assignment of Developer's exemption shall have no effect on Developer's exemption ha~eunder. K. R~~i~~ Taxes. In the event the Cotrtnten Proputy is taxed separately from the Parcels, the Association sha}1 include such taxes as part of the Annual fit. In the went the Cammon Property as taxed as a component of the value of the Parcel owned by each Ovmer, it shall be the obligation of such Owns to pramptly pay such taxes prior to their bccostting a lien an the Property. L. Catifir of ~a~ent. The Association, or the management company authorized by the Board of Dircctars, upon demand of any Owner liab}c for an Acstssrnertt, shall famish to such Owns a certificate in writing settsng forth whcthar such Assessment has been paid. Such certificate shall be earse}usive evidence of payment of any Asaessaa~Rxtt tber+cin stated to have been paid. A reasonable charge for the services anvolvdi in preparing such certi5cate may be aSSCSeed by the Association O! rrsanagemcat connpauy, as applaCable. ~. ~RCHITECTURAI. CONTROL A. The Association, th:vugh the ACC, slia}I have the iigfid to asercisc anchitec~ural contt+ol rarer ali irnp~vements ~, croctod, os P~~ upon ~Y Part of the Property, to assist in sztalQag t!x Pmport~+ a t~oaRiit.liniiy of lsigh attd aesdtetic beauty. Such str~hitecttirsl oortlrol mzy irichide all arrhitecttsrsl sipiacts of any such i~ttprovattrnt irieludisig~ w+itbout liraitadon, .sizes height, sate P>amain8. setbacks, a~tErior dai,gsi, aistrrials, ~~• °~ ~~ & ~n& ~ aesthetic criteria. For so long as Developer owns any of the Property or Additional Property. Develops shsl! bare the sok right to appoint the raambers of the ACC. Thereafter, the mambas of the ACC shall be appoardod by the Beard of Dircctocr~ as desigaatod in the $ylaw+s. if the Board of Dst+ectoryr fails to sa appaizrt the ACC, thdi the Hoard of Dirrx~rs shall constiwte the ACC. t - ~~C _.v - Nc- oo~dioa, rnodific~adon. alaarstion, err impsoti-emeat of arty napanc wl>atfoev~, ittcludirtg, witl~ottt limitatio~q altaataort of the laudtiatpitig or topography of the Ptnpaty, +nY eauttirsg a reai~tval of troarr plsatiris a s+ana~-al of plantar, and cn+eatiosi or al~tioa of ~ a similar Qf the Propexty, atoeQt ~ im~tsriar sltaatiaos scat affectie~ tlse e~tsa~l stttrdtarc a appesceerce of asry Insprovanmts, slsall be nodartatea oa ssry Parad daJess ana sstrtil t pissi of site caastrtrctioe, snodi6ea~ioc~ a~tian, a iniprvr~t slhr:tl have boar apprvMed ast writing by the AOC. (a) ft shalt ba t~ serpaanbr'~!y stf e^cb Owtt~r b aappiy - tw~o~ {~ s!d of the doceoneals did Miens b ffie AG11w T>.e ACC s1ss8 aDPre'+"e at ~ d~mem prtrpieislyr sabaamed b iit ie weird srillr:i tbirtp (3d} daps of stsrh srbmiowar4 AeY e+egweneir sirrr8 6e doe^tsd ~'isMpprared if I6 Ott t#O~t ~M4b { 1631 the ACC fails to issue a written approval or disapproval with thirty (30) day: of their proper submission. The documents, materials and items to be submitted for approval shall include two (2}acts of the following: (i} the construction plans and spocitications, if any, including a detaiIod landscape plea; (ii) an elevation or rendering of all praposod Lnprovcments, if any, (iii) samples of materials or pautt colors and (iv} such outer items as the ACC may deem appropriau. (b) )basis for Decision. Approval shall be gxsntod or denied by the ACC basod upon compliance with the pavviaioas of this Declarauion ar-d any guidelines eatabushad pursuant tbea+e~o, the quality of R~ and materials, tbe: harmony of external design with its surrouadinga, the e:ffe+ct of tha construction art the appd~rancc from surrounding Parcels, and all othar factors, guidelines artd standards promulgated from time to time, inc"tudiag purely aesthetic corasiQerations. which, in the sots opinion of tho ACC, wiU affect the desirability ar suitability of the ~tioa. Ia canaectiari with its approval or disaQproval of au apglucatioa, the ACC :ball c~raluatc e~ich apglicaaoa for total e;Efoct. '1'h~e evaluation relates to matters of judgmetioi and taste wl»ch caonat be reduexd to a aisnple list of menwrable criteris It is possible, therefore, that art a}~pliation utay meet individual critexia and still not receive appe~ovsl, if in the sole judgtnazt of the ACC, itt ova c ~ i! unavcxptabk. Tire approval of att spplicatioa almll not be c~ortatrtaed as ct+eatirtg arty obligation on the part of the ACC to approve applic.atio>n involving similar dexigm fot diffa'eat Parcels. (c) The ACC may extablish for the rrwierv of applic~tiont, irrch~g the aa>e~mdrt of r+eview- coats aiod fexa, if sny, to be paid by the appliumt, and the t+equrt+arnast of s sa-mity- deposit, tlte; time and pl~x of maatixtgs, and the potting of s onrrrpliaoce barrel to espsrue the trill and tia~dy aomptiaoce b'Y ibc sp~piiomt ~-ith the; oooditiorw imposed by the ._ ,. ...._- ,.... ,- , ~ ..: ,ACC: No wbraiwoo~ 6or approwai aba11 be: e~coaidexad b!' tine ACC mkas .and ..::-..., ua4til such man, its eampliatoa M-iffi the paviaiaeat of this Article, law bean acvaptod by the ACC. (eQ Ap+pr+at-al a depppr+owal of appiivtetio~os to tha ACC s~aU be J~ to the applicaa~t in witbirt thirtp Cam) ~ ~~ by the ACC io aocoedr^~ve with ~e prnooodieres adoptod by the ACC. 'I'lea AOC shall indicate its app~a~val bS- starnpMe~ tha phos ~ its seal std tIK eLa of appevval. If the ACC the r+agrteated propaed ~e~ it ,iri1 pe~otrida wnitlaa votive etf sari du^ppraaat b tha Owner. Di~appsort-ai by the AOC mry ba appakd ~ the Hoarid of Directors o[' t8e Aasocistiost, ad the . deiaasa^t~oea of the Board of Dieseloes a1iaU 6e +iaposiitivt~ ~f t#rs A+OC deter not - sex r.hhia the thiiq- C~1 ~ ~ (colas an mttsrasios is ap~ead b) >liwa tbe~eipt o#'tia ~ and apw4catioea is aoceptsbis fao. the plrs asd spoeilivstiaea for -: the pr~opoi0d Irnpnd+NiMwe+sMa airall bn danased b Irr~ bOtaa dwppso~l ATO ooasrsotioa ero sop !lseosl a wi~iei the haperty s1ta11 Le o~o~oM. std ao ta~a~at ai^Y ba arad'i8iai. a~apt 3n sot#oedrae wiAi a^oit ~+sef lisps ~: 17 OA 90[1( t~~i ~~ 161 Z and apecificationt. Further, fallowing the initial approval from the ACC, no approved plans acid specifications, or Improvements relating therz~o, shall be materially modified without prior approval from the ACC, is accordance with the provisions of tiffs Article VI. 3. V~riane~. The ACC tni<y authorize a variance from compliance with any of the arcliitxtural provisions of this Declaration when circtrtnstaetces such as topography, natural obstructions„ harciahips, or aesthetic or envirflnmeretal consideration require the same. A variance shall be evideeticed by a document signori by the cbaitman of the ACC. If such a variance is granted, no violation of tha covenants, conditions and restrictions contained in this Declaration shall be deemod to havo oGeurreci with re:pei:t w the snarler for which the variance was granted. The grantieeg of such a vatxance shall not. however, opuate io waive any of the teems and provisions this Declaration for any purpose except as to the particular Parcel and the particular provisions of this Declaration covered by the variarxx, nor shall it affect in any wsy the Owners' obligation to comply with all governruental laws and regulations, including, but not limited ta, to~niag ordinances and sett back lines or rrquiremeats imposed by any govctntneettal or municipal authority. 4. ~ The Board of Diree*.orx shall have the authority and standing on behalf'of the Associatio~re to enfonx, tit occult of caaipetsat juriadidi~oa, the decision of t)x ACC. 'the Developer :Ball also have the authority sari stsadiag is courts of oonepctart jurisdiction to eafor~e its decisions ba+auidar. ~tleotrt limiting the foregoing, the laadscsping of the Parixl shall be completed m accordance with tJre lsndsapi»g plat prior to the initial occirps~ney t~+eof or in the case of alterations to dusting Improvements of the ts~ia; maast be c~mpktod wetbin tliirfy (30) days ~ completion of the pr+opoaed ImQr~ovamaat Tn the event that the L9rdscaping is not completed ss provided hpzin, the Assoriadou or the Developer shall have the righOt to ta2er upon tht Pae+ed and eorrrpkee the moping in .,-~ _ ....,,..-- -., ._ _ ,..__ .__.; .apcoc+dsaae-wills the apprvvad pLuu, :ht.t~c ~aco~e.m~ancr' as a~erpr maoc mny.be, . _ .. paforer~od by the Association or Developer in aocatdadoe with Article III(D~ _ S. Y for Viola4ons. la the event srey propoeod limpravasrrtit is ~ vrithart Ssst obtai~ng tlbe appriuval of tree ACC. or is eiat eoas~cted is strict oomiptiaooe with soy spp~+at Pvw tx tlemtad gives by tl~c ACt : or fie p+arrisione of this Amick are ot3ra~riae violated. tllc ACCT as the aighoriaaod roptAedativts of UK Association shall have rho spopfic ~ b eve r+eiirf to tegtririe the Owtas b sUo~p, romov,~ sad doer say ' ivZe order b y vritlr the nags ar _ the ACC ~y paxsne say otltar taaaedy srailabie to it. to conoec~ioa with tYs arsfor+eaoaeat peragrapie, the ACC shalt blare the tight b aaoer tab s~- Paaoel a Ladpro~aseat srd 1~iC say irapect#ou o0oeseary b deletsaine Iltat tba p1+RriisiOaa of tYs . Dbcltsatioo lrvs hoes compga~d w'hh. The ~'ir7are of the AiOC ttr ~ b airy PaP~ _- ><olpe+orooaot prior b itr alrell sot oonatiprae a rrair+er of fie A+G7G'y ~ b eaifeace this Aitic~e. 'I'1rr farquir~ tip slr~ iba ie add'ition b ~ other iw~nsody sR _ lioc~ trerrip for viaasRiorrs o[thie Deelieeatioo. lg oR ttt]gt ~M6 paeE t6tg 6. ,~~n of 'alts to Reltaae Rastrictions. In each iashu~cC wha+e a structure has boon erected, or construction thereof has aubstarttially advanced, is such a maatter that same portion of the structure encroAChea oa any Parcel line, setback line. or esaemcnt area, Developer rYServcs for itself its successors, assigns sad designee, the right to release such Pat~cxl from the encroachment grid to grant a variance to parrot the encmachmeat without the cartscrtt or joinder of any pcaaon, irrespoctivtr of who owm tlx bundcsted Parcel or easement areas, so Iong as Developer, ixt the exercise of its :ok discretion, determines that the release or a variance will not materially or advately sffed rho value of the adjacent Fancel and the overall appearance of the Property, This reserved night aha11 automatically pass to the Asaociatiort what Developer no longer vwns any portion of the Property. Upon granting of as exception to an Owner, the exception shall be binding upon all :atbsoquent Owners of the affcctrd Par~ccls. 7. No Liability. Notwithstanding anything caataine~d herein to the contrary, the ACC shall merely have the right, but not the obligation, to exercise architocttn~tl control, sad shall not be liable to say Owner, its successors, assigns, pasoaal rr'pr+espttatives, or ,heirs, due to the exa+cise or nos-exercise of such c~ntrvl ar the approval or disappKOVa) of say proposed lmprovemet>t. Fur#hamor+e, the approval of arty pleas and spoci8cstions or any pro~paced Impmvenx~aas shall aot be doonod to be a determination or warranty that each plans and spccificaciorts or pnopaaed latprovem~eab arc . do not contain def+octs. or in fact meet say staztdas~ds, gtridtlitza, or rai~eflII of the ACC, ar none is fact anchit~turally or sesthatical}y apprapriase, or comply with say applicable go~vatmxntal roquirtmaus, and ttcitha the ACC rwr the Asaociatioa tbor Developer shall be liable foe say defect or daticiency is such pions sad apocifi~ioaa or proposed I~rvtrcme~s, or any injury to paaons or Property resulaag ihatefi+oEa. vn. rnoz'ecr~vE covtHarrrs A. Ia ot~da to keep the Ptopaty a dat~rabk plans 6o true far II aU;pwte~rs,: the ~ollo~rirtg protxtiv+e,.cowesrards.x~e asade s prat of the .D~ar3saeioo..!~V~rthoett lirnitiag soy of tirc prorrsioQr: nor nequir~ana~s her~ooi; t~ apoeific ~ to Dav+ebpar ar _ , _ ... _ _ , .. _, AeC appr+avsl set forth is rids prragrapb or ebewhcrc in the Docisc~Mioe sleaU trot be canstrtioo! :s a oa the r~aoluo of Article Vl of the Doclaratian or iaa troy Suppiaaattal Dactarati~oa. l . y~ Nv Ow~ier aimll, wri~oiat tlse pciar wril~att c~omeaut of tfie ACC. wlticb ax~at rosy be wtthhdd at the ACC's tole diacx+ctioa~ apply foe a claaagc W the maiag c3ardbcatiast of a Psnnd, eery vatisnoe Lnaaa asry applipbk iottnt-, ar soy amditiorni a tpaial tae p~ait talati~ b the we of any Pssnd. 2. No Pat+oel ~! be ils~tar srbdivided. ropiat~ ar soelrataaaol isito aisalkt Paeve4 by ~7' O+~raer. rior-ided ita+r~araar, qta tspMnic~iaw alrrtil sat proia~it ooe>ro~ve deeds a sitrta'1ar ooes~itre ioscnssraats, Ds+ne+loper alrs~ Wane Ira ttyit sv seooaRpate Paaoelt ai oodilj- sri~n-iwoo Plea of tM Prapeaty itlpewioper ~ s,U - the PanerJs ~t-itiiia cis lapt de^aiiptiaa oof M Property fo ba a^bjeafed to ie sepia, a' if _ a~ Oweaa a~f PareaL ski see ise2rdod w-it>rits the paeGoa d dr pfst ae wod"rlisd 14 ~ tali ~'~ ~ 2613 cortswtt to such modification, which consent shall not be uttreaaonalrly withheld or delayed. 3, ~isanca: Other lrrroroncz Use. No nuisaztee shall be permitted 1o exist on any Parcel or Common Property so as to be detrimental to any other Parcel in the vicinity thcroof or its occupants, ar to the Common Property. Any activity on a Parcel which interferes with television, cable, or radio reception on another Parcel :ball be deemed a nuisance and a prohibited activity. No immoral, offensive, or unlawful use shall be made of the PmpeRy or any part thereof. All laws, inning ordinances, ardcra, rules, regulations, and rcquir+craenta of any govertlmental agency having jurisdiction elating to say portion of the Prnpcrly shall be complied with, by and at the sale expeslse of the Owner or the Association, whichever sha]1 havo the obligstian to maintain or repair such portion of the Propdty. No waste may be stored or durnpod on the Camrnort Property. Owners hereby ackrtowledgc that construction activity on or about the Property during daylight hours sha11 not be deemai to be a nuisance. The determination of the Board of Directors sa tv what may be or bocome a nuisance shall be concltuive. 4. ~. Nothing shall be done err kept in any Pat+oct or is tba Coinauan Properly which will increase the rate of instuattce for the Property err any other Panel, or the crontettts theseaf, without tree prior written consent of the Association. No Owns shall permit aQything to be dome or kept is any Psr~cel or in the Cost~on Pnapexty which will rssult :n the cancellation of i~rance on the Property or arty otter Parcel, or the contests thereoJ~ or which would be in violation of any law. S. Ate. Qworra shall allow the Hoard of Diroctors or the agents acrd exapbyas of the Asmociativet to eattx say Parcel for ttu purpose of mai~asa>ce, inapectivn, repair. replt of the ia>provaatertta within the Pared, or in qse of emargatcy, for say lsrvful p~apose, or to ddetrairt~ nonnplianc~e with this t]oclaratioet. ti. ~. Ka animals. livatoC]C, or poultry shall be taes~ed, bred, or kept arty ,_._ rf-hete within t~c Property -- that Dot mono tttsmt two. dogs, or bads (or ~, arty oa~abu~ioa tixr~eo~ r~wt czoeod~ twro ae~mnsh iuay be kept '~bj- as O~txt-cr. ~. ` . ~` t of a Paeod daignaotod far tinulti family we. but Duly if such permitted peat der sat eoastitute a ~issstce ore the Property. All peb must be: hedd or kgtt ksshed err othettivise appropRiaWy testrsirted aR all lima they are ore the Catrntson Property, and all camas of pees shall bo 1',dd sttiatly :apoaop'bk to immod+apdy oolleet and psaparly dispose of the susses sed litfa of tbdr pas. The: Assaciisriaa rs+serves the right eo da~osOe sQociSc areas witbut the C'.o:»raoo Prop~aty ash pds may be w-siked asz kasha by ~ Owners, Z7tc Associstiart furtltez raar.-ra the ~ a daennad ti,at as Owo~a~ from the Prvpe:ty ail peb .rlricfi et~wo diiMwrbrnces err soaoyaoces that eoh~ripKc anisao~ces, in dte: sole detamla~sitioa of the Honed oeUitrslaes. 'Ibe docivaioa of the Baird of Diraaors m such ass~+rtt ~ oos~dtrrire and s~ be sAfose+ed try eta Arowtioa. -_ - 7. Na laurel s11ts!! be wd or sssiass~tssd as st dva+pia~ grand Sar rnbbisit. Ttash. gss6aga yr otlser narlr ssttrt tss ~ lit asniitsry ~ $0~t O~M6 ~' 161 ~ containers and placed in trash enclosures and fitRher disposed of in accordance with the applicably rules of the City in its collection procedures. 8. ~eaino_~y Structures. Unless first approved in writing by the ACC, no structures of a temporary charncter, trailer. basement, tent, :hack, garage, barn, or other outbuilding shall be usod on say t'at+ccl at say time as a reaidectce, tithes tea-porarily oc permanently, accept that rho Developer or its deal gnexs, rriay install a =ales trailer or other approved tensporary structure on a Parcel for use as a aalea afficC err oonsductiorr office during any development within the Community. 9. Oil sad Miniaa Operations. No oil drilling, ail development, ail refrning, quarrying or operatiacu of say kind abalJ be permitted upon or in any Parcel nor shat] oil well, rants, turrrrela, tntnasl excavat>orw or shst'ts be permitted upon any Parcel NO derrick or other atrricttrrc designed for uses is boring f~ :.it 3i natural gas slsall bt a~ected, maintained or permitted upon any Parcel a oa the Property. ] 0. y~,~. No hazardotu or toxic matey ials or pottutatW sludl be disehrrrge~d. rnaintainod, stored, released a disposed of in or undo: the P'rnpaty, except in strict oorbpliarttz with applicable laws, rules acrd r~egulatioer:. 1 t. Tree preservation. No trues meaeauting faw inches (4") as mos+e itt diaageta at a ~po~ w~ is these feet (3') above gx+autd le-rd msy be t+etquvod witlrot:t the written aQp[ovaI of the Dcv~doper, unless touted within trrt feet {l OF} of the appr~ov~ed site far • boilding. Mo tree shall be removed frvan asty Patad wit3tout the corrsart of the DeveUrper until the Owner shalt be rr:dy to eom~oe oa~eucaiaa. All fraanc removal dull be rsrrroved ugly i» avooedanoe with tha City': ?roe Oedinanee. if,~ y. 12. The empbyaei of the Association shall not be tequire+d to attend to auy pemorvl taattas or busirras of Ownaas. nrx shall they be permitted to leave fire Property on say private business of Owners. The uKi aAd functions of ~ :. _ _ . , _ _ eotplayec~ altdt;bcygovexned bythe Boaead of Dineceoea. bt tlrc went personal setvioes sae provided to Orvna~s by any e~ploye~es of t~ Aarodahon-, tl~e Awoci~tioo ni31 not. arty reapoasr~ility or be liable for, in eery maeroar, die gttsiity of sadr sexvias er . west pevviderl, not shsU it w-~arraQt serch services err wueit. b addition, the Association shalt not be liable fur aer~- iq jnry ~o P'ason a die b i~'P'~Y ~Mn#6 ~ ~ ~ or omiasaon by tbore :~ peesoad wort err savicas for Ow-pers. 13. . t+b aoiitdtittt wit] be aibrrrod aR ~ tiia~ wiibia the Proopety. B. 5~,~,>ll~dL~ 'l7~ts 13pertl sirll lMtre fists aamaritl-. as ha+ciosbo~e aspreaseds limas tithe b time b iac>ltsds oWac eaartrictioes err it stall daces appraptdrts. G. ]k is tba pretreat ie~rtsnt, btt snt the abiiyttioa, of Developer tltst tits Praoperty be dien~aioleod and eoa^horled i Trey a4d st s srs~ner std . ao~oONi~ b a se3earrk ~ M ie~grrined end arrodiaad lios these b fies ist rise solo and sbeosi^N tirraaeti~oet of Dewiioper, t~^r+ela~ar 1rst~sr aaoieipesar ~- iif ad err stq- pardon oaf s~i l~acls -. seas d~evd~c~sd ad aonaxad b tbrr Ptopty ss set foetit rls this ~4 ~ ~kaet sstq-. ia~ slrsi: nowt ttsoess~r, ba oostpeiwd of PoP'eetia wMitlt di~sr i drase~ is#R aaaopR srtr~st. ~_'". -- 2l ~ ~t10K ~~ ~ 1613 appcararrce, intended use or mainteriaace requirements than other Tracts within the Property, sad may, therefore. be aubjxted to certain covenant: and restrictions which may not apply uniformly or at all throughout the balance of the Property. AccorYlingiy, Developer herzby e~cpressly rraerves the unilateral right, privilege and option, from time to time at any brae to modify. by Arnrndraent or supplcment to Chia Ieclaration, the various covenants and r+estrictiaas set forth herein in a m8aner which may vary fmm one Tract of the Pmpaty to anarther, but which shall be applied and enforced coQaistently and uniformly in the reapeCtive Tracts to which each rtrodifrcation, if any, Wray apply. The covenants. condition:, araemertts, reaetvatiarr and rpstrictioru sot forth in this Declaration shall be presumod to Apply uniformly throughout the Property unless the relevant provision of the Declaration specifically provides that it shall apply only to a Tract of the Property as identifod therein. In the event that a provision of this Declaration provides that it shall apply Daly to a Traci of the Property, them such specific pmvisioA, amd>dmcat or supplement shall control in the event of a conflict with any provisiasr of the Declaration that would otherwise apply uniformly thrnuglwut the Pr+opetty. Not+rrithataadi~ng anything to the contrary set forth chsewhere in this 13aclaratioa, the following provisions shall ~lr• 1. Tract reatrictrons shalt identify the Tract tv w-hich the provisions are intended to apply. Tract restrictions asay be set tartlt is this Decoration or in the supplement or a~aeesa~nesrt which submits additional pmparty to this Declarstion. Z. Tray r+esttictions nrsy mo~ditS-, alto, dckte or eytpaad the applicatiaa of any Doe or morn of the previsions of this Declaration is s aaanoer w1~ch is rrratetisdly- diffeot+mt, is wlrok or in part. f}+om the applicsdion of similar provision b other Tracts of the Pr+aQerty, including. but not limited to rights of Qwnerrr, leaRirrg, use ratrictioas, ~S. Pte. impr+aveaxats, strsxturea, party walls, essanneats. aa+chitectural spproval aa4d marni~ance rrsponsr'bilities. YiII. I1~SUA~41~C"E 2. of ~omnwa Praanrty. The Board of DireCOors mall obtaar liabvty iraansnoe oa tlae CoRrimoa Pr+vpatty and, b the extarK the Board of Dieeclors decrra< reasorsAbk a noassaty, may Qbtaia rssoakr a~trawaaet and ir~ease the amorsats Ot Liability InWTaflDl, all M p Gorssialdlt with ~rtrdeat buairrars judptteert, th0 Eolip+rir~: (a) FLasarrl ioArsnDe oo ta0 CaNr00 Prtoperty ~ /~ ~R+~+~ _ GOI1~rlrCted tlrClp00i, wrtll QythAderl OOyp~. , Z~C~OYR ! ~ N-l 1~1 an t~r10110~ ~ Ie/s t~ Lila; ~~- b ~y M~ the ooitrlaraeoe paces ~rrWed in dre po~iicy, asd i asq swist sot iess tier ~r peseeat (~Q%? ot'tlre isr^rsib~ls rairte (bated ~ rapiroet~snt oat) tithe isppevn~eAS~etres eanstt~ied ve tba Cotr^aon haptrty. (b} Pailriic L'siiLitp i^wrraocss io stsrh Liwilr as ter Bated ~ Die+rdent --_ ®.~- llnosu taiisar b tie islsnhisa~ iewriir~ A~iast aq ~iiity tsioi~ aMlt o~ err .-~ . ~t ~ •00lt ~f~5 PA6[: 1 fi 1 b incident ta, the ownership and use of the Caromon Property ar adjoining the Property. Such insurance shall be issued on a comprelsensivc liability basis and shall contain a "acverability of interest" endotytement which shall ptoclude the inaare~r from denying the claim of an tJwner because of negligart sets of the Association, the Board of Directors, or other Owners. The Board of Dirocton shall r+cvicw such limits once uich year. 2. ice o the Parcels. It shall be the responsibility of each Owns w obtain, at his own expczaae, lisbility insurance with aspect to the ownaship and u:e of his Parcrl, including any Improvements, and the Association ahal] not be responsible for obtaining such insurance or have any liability atbataocwer in cormectioa tha~ewith. It shall be the responsibility of cacti Owner to obtai» and maintain lwrat$ isuuranco and insurance egainst the perib customarily coverrd by an extended coverage eAdorsement in an amount oqusl to not less than the full r+eplaoement cost of the Unprovema~ts and shalt wbmit evidence of such insurance coverage together with evidence of payment of the most recant premium therefor to the Association upon roquest. 3. Q~ctor and ~~,~ Laabilit~- Inwta~. Ttu Hoard of Dir~octoss may obtain, as a matter of oommorr acperrae payable from dte Amain Ass~ner~ts, liability insurance against persona! loss for actiorss taken br mertrbers of ibe Hoard of Diracton and officers of the Asaa-ciation in the perfamsnx of their duties. Serch itrsuranc~ aTtall bz of the type a~ a:riaunt 3c+larnineQ by the Bwnl of Iirectors, itw its discxdian. 4. Qtber _Coveraa~a The l~oatri of Directors :ball obtain and maintain worlca'3 cotton ins~noc, if sad to the actaa necessary w moat the regner+cmrats of law, and such other ~rroe as the Boae+d of DiracWcs may detaraitte a as may be roqu+eeted from time to time by a majority of thrt Owncas. T2re Bosid of Uiroctars wy fr+oar time Lo time ineraae or decr+aise the types and amoo~s of irwr^noe oo~vera~, as mar be naeessar~- or convert to coanpiy xith requirarreo~ of Mortg~poes or hood ~ the pat and availability of such oaverase. 8. t . Ia the event of daais~ w or d~ctiaa of aU a nay of the improvaments as for Coaottwrr Property rrs a taalt of fire a olbet may, the Acrd of i)irodors trihtll arrat~e 6x and suprrviae tba prvnaPt ta+pair sad rasosatioa of sercl~ imp~covs+araaet a~gintially ist socordaacY w~ the plms sad apociRcatiaos ttndar wltidr tfie hapavaaeats si-ere ticipadlr c~orrsOroclOd„ a arty rrrodiBeatioa tlseeeof appe~ovrad by Developer or the AL1C. Tire Boated of Di~atrtr a~aq proceed totraerls reodrtrtrtrctiop of r~ improvanmMs err gtrid~ly as prsc~kabk seder the cacrrweoati and rlts~ ebtsio fia[rds for atich seoaastrarttiosr >'icoat !>h~e iowrrance p~+aoeeda and star Special AaeerarnarMs that attar lee eeceaeey atAtat ~wtioa dnwarrrs ibr are r~ir M nplaoerereet of tst~ iatpevseraonts. Notlrirrg eorMioed 5seaia al~all inrpoa abrt+itMe liability Sor damyea b the Cortrsoo Piopat~- oa the Orvmea. _ . Z. Mjr Qrraar whore lfasps~aM~era~ ae+r dsrlrored err - . daroated bd- ll~s a ~ caarraity sirsli iisaer grstoeed b rabnr7d as•d swbrs sr. -_ ~3 ~~~ ~ ts» lmprovcmrnts to the conditions existing immediatel deat~uction, unless other lane srr Y prior to :uch damage ~ P approvod in accordance with the provisions of Article VI1 above. Provided, however, if the damage is so extensive that the Owner determine not to rebuild the Improvements, the Owner may rcmnve an ar~d all debris and and the Parcel. In such event, all ohli y ~~~ ~Provcments of Owner shall rnmain in effect. gations for landscaping on the part. UC. IA'I'ION L wRiT i't`Y A' Notwithstaadin an in~the Articles or Bylaws, or in any other documieag go ~go~ned ~ thu Daclsrati°n, t lectwdy, tndmg the Asaocutzon }, neither l~lopcr nor the Association shall be liable or r'aponsible for, or shall be deemod in any manner a guarantor or insulter o>i the health, aaf or limitationf rOv~+aers, ~ occupant, or user of any pcntion of the property incluwding~ ~-ithOUt contractors or ~~' t~~' and their families, gtusts, invitees, sgenta, ser-+aats, suhcontracton, nor for any property of such persons. B' Without limi the ~~ S ~ A: ~ 8~aality of the f an 1. IL is she ~xesa intent of the Asaoeiatlon Docurne,Rn that the various p~vvisions thereof wlueh are aiforcpbte by the Association sad regulate tle use of the Property have beat written sad are to be intatpr~rted s~vp~a,ced far the sok purpose of erg ~ ~ the en' value ~,~f. loY~t of the Property and the 2. Nptbex bem creatod, to act as ~ nor the Asaoci~ ~ ~, ~~ htve ~ have the Uaitod Sgraes of ~~ ~~ ~'oeca or mtuaes ~ ~ the b~vs of ~~ ~ . thr State of Florida, the Oity, a say otbx j~ or x~vitia. 3. The pras+isior of the Asaociaaor~ p~ i~ the uses of ~~~ ~:+da~e to batlth, safetyr, or we1f~ shall ba attnbiured arad or ~ of such Cuods, and :ta as area an ob#igation of the Dreveloper io prq~ ~ . ~Y nc rdfare of say pexsaas. _ C. ~ Oa-aer - ~ ~ a4i~os (by' virtue of ias acceptance ~tuie oaed bis lam, k~ ~s- of ~ every atbQ P~ - oc ~ih' ~+-~ an it>fQ,est in ar a li4sq vpm, or ~ rase os; Paaoel}, and slrq ba des ~ ~ ~ re Iberaof~, s~ be baud by t~ ~k od _ y rt~ cl•,a,r, cares ~ . y~~ ar s+ai~ i~om ar cor~oerled a the I>~>~apar bwe bey deerr>l~,d ial file MiK>-~ Z~l nR eocwc ~ vAeF i~~s X. PB~RT~U~-~-cT T4 ~r+I~rExAT><oxs TQ THIS pF _~~'~'IO~V~HEI~ETQ A. appg)WjPII. 1. l~v ~vc__ I_oycc. Dcvaloper ~hsli hstve the right, but rwt rho obli~tion, for a period of thirty (30} years atkr the date of recording thus Declaration, fmrn tuna W time and within its aolc discretion, without the consent of say Owner or Mortgagee, to aanox all or ar~y portion of the Additional Y, or other parreis no~v or hereafter acquired by it, as well as parcels of land owned by others, with their ooneent and joinder', which parcels are adjaoaat to or co»tiguo~u with tfic Property of Additional Property each that if the laud is annaced to the Declaration! by fbe Ikvcloper and its :u~sors or assigns, it shall form an iategratod community with the PraopaRy. 2. ~yiatiort. Alternatively, any portion of the community which may from time to tune bo owned by rho Association may be annaced w the Pmperty by marding a SupQlerncutal Declaration executed by the Praid~eat of the Astocistioa and the Owner of the land to be arced. B. Anry such additions than be made by the lid c!' record of aoe ar n~ SupQkmcasal Dociarstioas with W the pttftina of the lands to be aaescx,cd. A Suppiaaartai Doclaratioo may cvrNain arry additions to or raodificatians of the provisiorn heroof applicable to the property to be armercod spa ray be Y, iit I~eveio~s jwlgmart, to rieflert the diffa+cat clraracta, if arry, of such famd that is the subject of the Su~plema~i Declaration, iactudiog, without limitation, soy differences in thr method or keel of As~cr~rnenta to be Ieviad u~poa such prop~a~ty, fairing into acoourrt tha diffanart nature or anaorart of services to be r+~ed to its Owttaa by the Asaociatioer and any Tract Common Properly. A S~ Ykclaration tlsa11 became effective upon being resxxded in tier pnMic records of the Cofmty. C. >a the eve~ot ~ any aaditiomi property is aaaoted to ~e Property punwaat 1o the piawiaiaae of this Article X, pQan r~ir~g of the Supplaaedal Doctsrafion, (aj auk additiomil pcoparty shall be oansida~ed within the defmitiao of the term "Propart~" for all puapoem of stns Declaradao, and {b) aq vatmg Of ~i Clad of menbadtip of ~1C Af~OiCiatiOD and atl ~ by dN Orrnon ~! abaJl be ~. Pro+ritiad ice, rmtil an~- l/Id 1a aubjocled b tllC tarlgt of tLit 1?OClaudon by fepOR~lfrg • DaClacation ail anelt hod tnsy be caareped, Bead. iidd. vccopiod and matlpr~d >~ and eidr of the kinrat aqd ooaditione ha~eal< D. g~rai of ltoaeetr. At sap tioN Deteic~p4 aaaly dalrtrine ~ i~ aoie d~iaclalioa 1p rri~dcs~w ary p0etioo +o[~r Il'ropRty oared by iR 16~ 11r tams aed ooadilioart erg Dedaratiow ly egoonii~ s Darioapoet o[ 11fiRhdrawN, acacfaed b!- the Drr+dopir sad eo Saiker consent vtaay Owfeat err IrioRga~+aes strap be tegeired. B, b Itrs wmrt first r ~eiet ~i ~rMrict err ooarrMrii~- ~ die~iat (iee~eiaafter '~K„~" ~ iir eMitit6rd 4 ponriis r!' aenioae -- 2S OR IIQQIc gE~16 t~p9E 1614 currently r~sedered by or which are the responsibility of the Assoeiatioet, these covetweu and conditions abaft reo Jonger be of any force and effect as to grey such services provided by the Taxing District, provided however, the covenant and conditions set forth he:+cin shalt' continue to bind and run with the Iared as to all of the Pmpertiea for services not provided by the Taxing District. The Association shall have the right to convey or transfer all or pamions of the coenmoa :tees to the Taxing District so long as the Membtrs shat! have the right to use and enjoy the commas area. If the Taxing District is taminatod for any , Chest covenants and conditions shall ~ apply in full farce and efI'xt as if the Tsxing District had never been created. M. [_R_Ngo iy rgoMA A. . This Declaration, as amended and supplemented from time to time. :herl! rues with and bind the Property, ud shall inure to the benefit of and be binding upon Developer, the Association, the Owreera, and their respective Iegal represeautives, hors, successors or sssigev~ for a terne of forty (40) yeah from the date this Uaclsration is recorded ite tore public raooc$: of the County, afl,ar whi:¢h time al! of aid provisions she!! be eactaxk+d a~utomaticsdly for successive periods of tere (I t)} years each, uNeas ate irestrw'neat or instYU~ets sigaod by flee dean Owners boldit~ severity five percent (75'K) of the votes of the llssoclation i+ge+eeieeg to taaeinde atl of said providons as of a spocifiad date. [)akss this Dxlaration is terminated as previdad above, the AaociatiaRe shall reraond this Daciaratioa sK ~ rzarire of its terms st ix~ttrvals avo~as^ry tmda Fbrida lase w pmarve its effect. S. ~ is the evaet all err pact of flee Caets~aoa Fxope:ty aweed by the Associaaoee alnail be pekes err cao8aeneed by racy authority bavie>< the pva-a of eminent doansae, all oompa~ioa sad daaeagea slsall be pwd to the Aasocistion. T7ee Board of 1)ietieetorss shad have tht right to set oa bdeaif of the Asaociatioa wide rewpe~ to the aegotiatio~a sad litigabiam of ifx fairing err aoadamestioa at~xing suet Ptvpaty. Tlee dsoaea~ea Som socle coseda~tioa aleaU ba appliod to tepeir and roeanatntetioa of the iafpf+av+aneenb. If flee ittepsa~v~oeats tenant be rspaitfld or rrataod the dat~ea aledl be dk~oaisod is Asaoeiattloa aooouEt< sad be eaod as _ approved by ttaf: Boae'd. _ _ . C. . Aery aot~ice to ba seat to the Owpet of rq- Paecd wader tlx provisions of t'hia DecLcatiatt s~ be deeaeed m tsnre beta pe~aperly sent w-bea lead delir~aed or ea~u'iod, portage ptspaid, to ttae Parcel sad b flee last ~-p addr+esis of the paaoa ~rlbo appa+aes err Owner of sx~ Psanoai oa the t+erads of the Aaaodstias at the tistse of weds mn'hgF if ditfa~pet. . D- !!f ae~r peeseia,, gym. aorpara<iose, tattit. ar osMer saet+ity alai! violate or alt~lapl b viwiaM ssa7r off ffis vovrasmts Or>reatri~rs sat fottlh ip Ibis Deelass6asy -. ~ K si~aU be Lwlisl fat D~esaiopar. tlse Aro~riatioR err say Aa-aw: (ai tb psoaecnie p+scaedsys for dte rae~ery otfduttagas ~t tlboae so yiodtitg or ~ to •,ioiaMs swp sestet crovroneit err nas~InietSio~ err (b) tb aaainlaia s psoaedi'its* its a~1- cosett ofosrtt~alsat jtteiaaiadoss ~t tMaas ao rialahgg or aets^artia~ is rioisls a~- aNSeb opveawtt err arabietloar for t6s p.slow e[ - _ or es~aisKa~ erg err a~!- sarei rioi~atiioser err aetssatpsad riaitifotss, ja ad0'itisw b all ott~sr s+sareedies~ _ me 9asd bf Qiergoro ahea itsw tdta ariaitY, is it s~ois d'scsatio~. tb iinepae a }Lt er 1L wposi satyr 4wwer !or tbtlbrr ottthe Omaee; W tlYstaiilP, pr^Is. itn-irr~ Iaosssle. err oces~sase. to 'd OR lit7t)K ~b pq~ l ts~ comply with any covenant. restriction, Tula, or regulation contained in this Declaration, the Articles, or the Bylaws, provided the following pr~ocedutes arc adhered to: !. The Association shall notify the Owner or occupant of the irtfracdon(a) artd the date and lima of a meeting which shall be at Least fourteen (14} days from the daft oP Halite. The Owns sha]1 mat with a cotnmittct appointed by the Bwrrd which committee is composed of three (3} Ownda who arc not offtcara, dirzctora or etnployeq of the Association. 2. At such meeting, the coatmittee shall be presented with the inf7action(:} and snail give the Owner or occupant the opportunity to pt~sent reasons why paaalties should not be imposed. A written decision of the committee shall be provided to the C}srrxr or occupant within twenty one {21}days after the daft of the meeti~ag. 3. tf appravod by the cornmitta, the Boarxt of Diroctora aeay imEposa fines against the applicable Parcel of up to Fifty Dollars {SS0.00) per incident. 'tire maximum pcrnuttai fine may be increased from time to time by tho Board of Dirxton, as pexutittad by applicable statute. 4. Each ittcidtat which is grounds for a fine steal! be the bans for a separate fine. In cast of continuing violations, each c~otttinttatiat athx natira i~t giveat sl4aU ba deemwd a:aparate incident. S. Fines shall ba paid within t}ti~rty (30} days aRa tht receipt of nrxic~ of tbcvr itnpo~sition. b. Al] rnoaics roceivcd from fuxs shall be a-Ilocated as dira~od by tht Board of D`irocton. ~. ~C 1l~foaitlolt Of i ~ ahlll 4ot bC ~ dtCbltitil^C tra~otiy sad shalt twist itt additrort to ail trther' righks sad r+waodtts to whu~t the Assn tluy otttenvtse ~ eartitkd. itYtriding a-itbotu Wnitation the right b rose a Panod As~att; bow~e-~er, ~Y lame t~ b'Y tfir3 Orvncr or oc si»Il be doduq~od f~nom tx t>f6et sgaim4 say damage: ~fiich the AaAOCiation aasi- atbA'wisC be Aatitled b :acOvet by taw frost such Ownet a axapant. The timita~iaias tra fives in this ps~taplt does not apply b stt~aosiu~ns ar fiaa arvirtg fraso lbi2rurq, b pay Assasmead. The rattcdia oorusiaod io this psragarap6 stets! b~ taostrtred s a~ve of aU ot6or t+am~ediea mow a herea~er gwidoA by Lw. The fsi]trne of iAeK3oper, tlde Awaci~q a au!- Orvtter, w theiur rrapectiwr watx~ots ar asstpt~. b nerioeae flap covaetrat. ne^1tiAioo,, ablys#iow, ~. pawtr. privilege, tartbwrity, or rgsecvstioa treeeitt toatsioetl, bo~w~ewt losrg ootttin~sed~ idtaR sot be dossed a waiver of tb0 right b atfotrae t~ ~ meerb^llar M b the sstors be+OaCb a violstioq oe ar b a~* attest braaci a ~iolattiaq ooarrz~ ps~ar sr6regoe~t 16s+Np~ E. tJinlw tt+it ooeaaau earptrsdy :egrtees otMa'+rtanR lie tats of tlbe siapitr iaeJttdes dts plrrtai slid vice ~ dre re afal! ge^daes iieindes sH ~a^iaesti /raw d dta lams "ii~cittdio~" a " imclrrder' is nritltott! >>iegilaliot~ sad the te^e dtlr ts+aaa "wr'H'. "art', ~ad'ab~nttld" ~ drre the aN^e e~ as t`e Nre ott#re tens ~sii^lt'. W1taAe+ttr an!- dtrae period 27 op t~ ~ pae~ tit is expressed in days, if:vch titrte period cads on a Saturday, Sunday, or legal holiday, it slid) be extended to the next succading calendar day that is not a Saturday, Sunday, or legal holiday. 't'ttc terms "Parcel" and "Property" mean all ar any portion applicable to the context, and include aI2 improvements, fixture, trees, vegetation, and other property from time to time aituatod thereon, and the benefit of all appurtenant easements. The forma of this Declaration shall bt liberally conatruod in favor of the party sedCing to enforce its provisions to ef~'ettuate their purpoaa of protecting acrd tnharlcing the value, mulcctability, and desirability of the Propa#y by providing a uniform and consistent plan for the devcIopment and enjoyment thet+cof. Headings and other textual divisions are far convenience only and are not to be used to interpr+ct, eoratrtie, apply, or enforce any substantive provisioner. The provisions of this ~h apply ale o0 the inteapretalion, cortstruction, application, and enforcpoee=tt of all the Association Docume~ta. F. jgv_g~ly. The invalidity of any part of this Declaration shall not impair or affect in any manna the validity, enforceability, or affect of the balance of the Declantioa which shalt remain in full force and effect. G. ~ules_and Re~Isdotts. All Owners shall comply with the rues and reguLtians adopsed and amended hen Lima to time by the Board of Ditnetors, the ACC std this Declaratiaa Such rules and regulations shall be foe the purpose ofeIaboatiatt and of tl~e pravtaotss of this Declaration and shstl relate to the overall deveiopmamt of Ilse Pt+opeety, and sbaU not in arty way diminish the powers of a~lf-goverwnent of the As~isdau. H. lisnce with Docam~ta. Each Owner sad its tu3at~r~ liowaoas, l invit~oa and subtwawts shsll ire bound and abide by this Decltaatiott. The aoodud of the faregoimg pastier dell ba c~sid~rs+ed to bo the conduct of the Owtses raspoua'bSs for, or ootntectod in nary mmna with, such individ'ual': prraeace within the Property. Such Owner shall be liabk to @re Associatioe for the coat of eery n~ repair a replsc~»t of sarti- teal or personal psaopaty rendered neeessarl- ~- his act, neglax a ~, or by that of spy other of ttK partia which shall be ~y pad for b7 the OwtKt sa a SpecisS ss peovided in Article V. Failure of an Owner b »~ any prsaoe of the axiatenoc ,, .._ . _ of die covenants, conditions. reitrictio~e and other provisious of this Dxllaatioa ~ not. in any way set to limit or divest the right to ~ of these pt+ai-iai~aoa sg~ ttte Ow4ar a sack other person. Y. ~. No ) or administrative psoceodittgs sisal! be coatmeaoe~d err pt~osocrtted by the Assoeistioa unk~s the sastx is appnwrd bl- t vole or w-tNt3eq Oostsont of the o+artMers hoiitg s~+eutlr fivC pa~oent CT~J of she vatea of tiro 11tis p.ca~rsiph +thall noR +ppty. Iwvw+a+-ar. M: (a) actions Lr+oeyl,t by the 1laaocistica b snfa~ce wiry provisona of ttia Declaratiaa (incindits~ rrithoat haaita~ioo. fa~reeiowue of lieo~. (b) iia~esitioet of Asaesaneats at pevvidba >~in. ter) ~ i~ el>vieq~. b sa~r err (dj oawalrsdwsta - - ~E~ hY t>he Asaocis~tiost is psvooedio~ mod # it. N ~ penriai~oss of this Pat~raph. this Pars~sph shall oat be aoaaded ~^dat wdt Jlsireadtveat is ap'Peosed !rl- Dtvidoper a is apptn-rod by the paseetla~e vac patstagt b 16s ~ p+oosdarer r sae >,e~cearary b iaad~e psaoss~op and pw;dad aba+-a; ~- ~. >~Id~. This Deciaalios toq bs a^a>dsd st aq tit tij- an iartearauit _ wlmd bl- the Traidtat err vie. >tioidear and tit 3raatarr err As~sisN^tt Seer of tM QR ate( ti~PMi t~ 1622 Assvciatian, certifying that such amendment has boon adoptod in sccot~dance with the applicable provisions of this Declaration. The amasdment shall bocome effcstive upon its filing in the public rxords of the County. Provided. however, that: 1. Aa loctg as Dcvclaper is as Owner of any Parcel, oo amabdmeat :hall became ctl'ectivc without the written consent ofDevelopcr. 2. Developer apezitically reserves the absolute and unconditional right, aQ long a: h own: arty of the Pr~op~erty, w amend t'hi: Declmtionn without the consent oar joinder of any patty: (i} to votsforrrt to the t~equit~etnents of any holder of rt Martgsge; (ii} to caafornt to the reyuit+emettU of title inaursu~toe companies; {iii} to conform to the tec;utraments of any govatunentai etztity having conttat or jurisclictiva aver the Praopecty; {iv) to claril}+ the provisions of this Declsrattivtt; or (v) in Hsieh other manna as 17eveloper tray dean necessary or conveniait. Arnextdiments to the AtYiclrs and Byhrav~ shall be mark in aeoardtutce with the roquir+ctnenta of the Articles snd ByLwa and Hood nvt be rticordod in the public r+ec~otds of the ~h'• K. $jghn of lVloR~ees. All Mortgages shall hive We foUowiag rights: !. leg na:a:a2 ~ hou:a~ sad upmt teaaonabk taotict and iw a rea:oeable mates, to ittapotx ciurent copies of the Asaaciadoa 1dAQt~IgtLti and the baolrs, raor+0s sad f»a~tcial ~ of the Association. 2. Upart amneu ro4~ to the SecTatary of the Associstiort, to roedve copies of the am-ual 5nanciai ~ for the nennodiaaely prooodiAg fucai ymr of the Aasociatio0. provided, bo7vcwer, Ste Association ratty taake a traaonrtble, tm~ifortn c~cge tQ dcfiay in c~+ts ittcaur+ad in prioviding snch cvpies. 3. Tv drssgmme a rquaeatat+ve to attrnd sU meetings of the Mratbaa of the Assaaatiov, wrbo doll hie a4titled to a rr~uooabk apporlratity b be head is oonoectiart with atYy butwxaa btouglu befara stMCh ateepng. bat in no eva~t shall be entitled w vote 4. ey,vrittea aoticc to tbs; Saeerary of the Aaociativrt, and ttpou pttymeart tD the AasxiaQOO of eery rearonabk, ao~iSocm~ araawl lx;e asablirhed foam titxre to time by t?ta Asaoaatiaa oo deilhty iu oasts, to reaeiva (i) a;ty avtice tlsat is rageand m be gavm to .. tlK C'laas A Marabers wtdar arty pebrision of the Asrociation Dowwatts: {tt~ writaea rtosice o!• say coadeaaaatiao or arrralh- foss s mala»l portion of the PrapeiRy a eery Pared aacvioberad MY its Mores Cm) +~' ~' Ib~ ~- 7 in tlse ~ ~ ~ ~ ~-1*a+cd ~ lry lib isfac; Cri'j tLe bt{ssa, caeceothtd'oa„ a ta~aiY aaod"ificaipon Carey imaraaoe ot~ert~ ar lide~ band wed by ~e ~!-aioaatian; marl [r) ah' prc~parad acoao tr~si:~ tlta ooeerrt of -,_ L ltad Fees said ~a.t: n p~ai1~ 1Pah' ~ +a]' ~~ ate[ oMt +tf da abjR+cct oaattat of tiffs DacYbiort or ills stebaar~R pafaarirtoe shall be mad to Z9 r' Olt ttt~t OlMi P~ 1it'3 r+eumbursemeQt of its hosts aryd s faa- wbethar iacpnred befane or at trial, oa appeal, iYt ~Y. in p~ J~ collodion, tx in say dirptme t+erolutian proceedit~, and wbat}eeer of not a Itrvwit v coamnaxxd. M, j,i '1'hir Declsratioa :ball be tlo~tnad by dad ooaetnred is aaaordance with the 4w= of the State of Florid:, both wive sad t+e~ed#at. id, AU pravirions of the DecLsatioa relakr~ to a Prtcei which h~ae heed sold ~ tax+at a special ~ as+ri~ro and era antoeeatbjo alter tba iaa~mea of a tsx deed or upae t For~ociorur+e of •n Arr~mdnt, a cartificare a lYm, a ta: deed, tax eectitkate of tax lier~ ~ the woe +exteat that thty would be ~rcable apaiast a v+olugtary gtatee of tide betlx+e such traasfa. O. Dev~aope: msy ssaSq all a ar,Ey s portion of its tuts iterom3er. or ~ a t potion of such t~iphts in oaapac4ion Mqh appr~opeidie pteriionr of the P~raparty. bi the svaat of such a potial arijaoyarK, the asriyere ah~ nd be deeaeod to be the D~ava~apet bnt arty axer+cise nech [iShh of Dwvdoper specifically a^a~od b it. Mlr such sssitlnmotat awry be asaeie as a anaeaclasiva bras. Ia ad'ditiaa. in the ducat tl-rt say psesoa ar tratily alrgrinit title b Property awned b~- Dswla~per ss s ::salt oi' iioe+eolataeR or decd is liar thereof se~cir parsm or aality mrry elect to becouns ilea Devvdoper b!- r~rihhu eie~d4+o r~et+osdad ire the paLiie t~aeardr of flee CoeeMty, snd retlaedlsat of tie a~a+use o!'taob dactja~, ~ pt~ ac e~y sby- ~ she ~ri~er ter arena ~' n~tr aid DeNaioper b asq- allot psirty w-licb iogetirbs title 10 all or ~- poetiort Of t~ Pfropsty by w-tiMea sppaataaoet e0ooede+d iu the ptibbe :neardr of t>bra ~'.oao~ty. In sqy ev{eat. ao wbsegaaat 1]er+dopar slr8 bw liable tor,eay rwteoarr ac de6arlts o~ or tabjl,~spoes >ocactad bY, sett' prii0r Da+ncbpet, aaoept ae flea arcs snsry bs aaryrresily asetaDned by the s^ha~agw~t De+i+aiiopes. OR t~ ~PMi Pi16E ti24 iii WitTi~tEBS WHEREOF, tlsr wxleni~ has caused this Declaration to be executed in its Mme, the day sad y~aar i~r.t above rvrittat. Signed, sesled aad delivered in ~~ ~ LAST LAKE RESERVE, L..C., a Florida Iimitad liability coalpany By: LMC CLTrRM4N'r DBVY.I.OPMEI~T, INC., a Florida corporation, it: Msaagin(1 Member B F. Hood Cnddo~cic. Vice Pnsida~t Prime STATE OF FLORIDA COUIYI'Y OF HILLSBURQ[IGH 33x3 iurtraenaolt w-aa sckaasrled~+d bare me tis*a ~,.,`~- day of .~ Z001. by F. HOOD CRADDOG`Y, as Vip Praident of LMC ~'I' DEVELOP'MBNi', INC.. a Florida capo[atioe, oa be~lf of the oapvcatioa. r the msra~ aianber of LOST' LAKE RffiERVE, l:~C., a Florida limisad liability voaapaay, for and an bobatf of said >nnited Kabilitj- acap^ay. Ha is me .as--~iaeei- ~Y~ ~~>~ rt.~r~ 'Ibe goslify of tbb Ims~c 1r e:QrivakAt t0 f~R 9w~h' Of f~! O!'ifiersi dOCrAllAfr F}Q~[ZSIT A That part of LAi~ HIGSLATIDS 44MPAi~iY! sane to tie a4sp oc pbrt t~enesias t+eeaded Ia Pht Book 3. Psfe ~,1 erf tie Ptf6$e Records rt Lake CeefniT, 1+'MTidty ~ ~ ~iou ~ Tow~ip T~ Soxth, Raetfe 7K Rsd, dacri~ed res fib: Coaueacaa at trs Nee~linrat eatyetr of tie Soatiwed 111 of Sew 33, Tewatii' 7Z Soettly ~ 26 Esst, Leine Conat7, Flerids; d~pea ras Sortii t1Q' 33' 01° Ead aMa` fie War Bae of tie Saeetiw~est 1/~ t-t said Seetiea 33, for a dataoeae e[ fZ1.35 feet to tie Norllr has e-f a pared of hied desctfbed is O.R. Bseic It~Q, Pale: ?,ti1 of tic f'ob6c Records of X.~rice t:aaadf, FMzf~s, theme r~ Ns~h 77' 2S' S.t" West aba~ flea l+lertr ~t e-f said pse+ed of 4sd dexer~e$ #a Q.R. Bn+k 1630, Psfe T11, far s dBtaaa of 51142 fat ie flee Nortlrfrat eoracr of wit! petroei e-t Lezd d t+a a.x. Bask 1i3e, Page ni; tieesce k~a~rits acid prerai of lead dsseribed is o.R Bock 1630, Pace. 721; tart Nerd 7''7' 6Z' I3" Wext, for s dbtaata of 71RYi ~ to tie P~iret otBe#ia~; i cesiiasee Nrrilr 7'1' 62' X2" War, a e2~4ress of 3].7.93 fat b tLe be;0iasiue0 et s ~t csrrc cos~srra to t~ i~ortirast, ha~ri~ a r~1i>ts of 154!.66 iRet ssd a e6nrd iaarri^; eiNe-r#le T2' il0' 4f" Wtat, mate: son oetriirrrt trioo~ ilee sa ~ tadd t~tt-iaaxaai wr-e ~ s tbataata e[ 3d7.IS feat tirrso6i s astral aa6ie of ii' ?S'' d3" to fire end of and sretrha*art tared tltearoe: core Wetrti 6T 39' 16" West for s diecbaoe st lb'.62 fed b flea bedi~ of a ~t ererrne eearesrre to _ is 6owfiwat, hstriNE a radios of 1491~.N fret read s ii*a+1 ~wri>e6 of Ns~t tii' 2P- 4S" WirAt, fieaaa r+ta atq#iewestsrb- +rirfe! tia set of said troa~eeet Berne fir rr dLtoea of Z7S~d !at tireeellt a aatn~ te~le of 16* 53' 21" #o ~ ~uefiq of a ce~d earn cNtetere b tire: Sodieaed, lean6q a r>tdjrttt of~£tM feet atti to eier+d bearia0 ~8Mtt6 54'!3' Z3* Wad, t>tiwta t~tr ttoatinesta~ aietft #ie sne a[ teeid ceagrrtaeed taerrr+e fir a dLtaaee +ridL~I feet litaa~it s +oeat:al . she at 91' 27' 23* fa ~ b ei a eoatpoMad aQn a^aRt ~'4 brh~ a rstEtert s< I430.6f feet sad a eioti bares al Serllr 1~ 31' 0.S" War, ttrefrar ~ +b' telex iir~ xr~e of strict etrta~aeri lret'fc fer a dit#setae erf31RN feet ~rea~ s aNra[ ~ +t11' ST IZ" q ri l~ti _ .. litre, tbe~oe r+ut Bewti i~!'' ~2' ~" War aMq asii r~itl Lrre fit s ttf 12.M feet ~ >t pelt os s ~t ~tfrre caeiere e~tleewfa~- Ieastq a raif^e ed11~.06 feet sal a eisti best - _ f~ ~ 1.2' 31` 1d" $+taft, fieieos tape soetlk'aNetr~ ~L ti~e ace st sail cane Atne~,le a atorfntl __ - ~ ertZ1' Si' 3t"' fetr s dMtsres+efi7lkl7 dtet fa ~ reiitt e[ts~toyl Aeewet: rare Baedk ?S!I' OS" Faq t er a ~ttaeeot: rt 3lSri7 fah, ~etce r~ N+tt~r i1' ~' SP' B~tai fir s d~etrae of 3t±L+rO .: ~ bate rasa 8oetti 3Y i1' 64' Rrt Iitr s iL4tteee ei0.if:63 ~ tlee~es nra 34eaiti G!' 36' Si" East fir s d~lrees ei Zli.di feeh, treeetre a'ss l~ 3+S ~' 07"' East fer s ~dwros K 14'I.li fief tleetea.rrdt Nert>t 66'3' i6" Wed fit s dM~a fat'liS.6! fiat >M #ia P+tfit erElf~r.ir~ E2(H IBIT $ LOST LAKE RESERVE DR1 SECTIONS 28, 29.32 & 33, iOW~lSHIP 22 SOUI'i~. f2ANGE 29 EAST _ CIERMONi, FLORIDA MAP H o~ eooa t~2s~6 ~ ~~ MASTER DEVELOPMENT PLAN T'~e yusGty of thin im~t~e it egnirsknt to tiie gnulitr ~ of tLe oti=isa! docuotpt a, nar+wi I A To ~, sa,e~, Ta ~ ~ -- - L~www Tn+ S_tw~s Road _ . - .- - - - -. _... _ :.:. . _ ~M1rV~y TrM 8 f ;~ - ~.ake ~ ~r ~ ~' tie~wyr-M. tn. ts~Prr '~ ~~ , \~. '~~\ E :~, - ~; .. `'~~~~. .;`.,, `f,~~ ~~ L '~ ,,. ~. ~, , tap ~ ',.,y,~ O '"'" ^" t3`~ _ ~~\ - '` ~ ~ ~. - wa~C.ES Sires Fanaq f1~ia~r-fal 1\\ _ y t _ M1MI~Fi1~ R~wdenM~F \ ~~ ; ~ ~ -~: ~~~ LM~r ~ :- ToM.- cwm.r ~ \ M ~ R r ^ Sdg01 Co~nrioir vwrpr ~~~ ~~ ~ ; _ ~~ _ _ OiaMgpO~tNNt ~ ~ ~ - ~ .~ o pM~Y~ Conr~rrgr Prlt `~1_ /~ _ - _ . ~ 4 rao L ~~ ~~~ w - .._.._ Poa..aws~. Tn! ~ y~~~'tr~ +.~..~ ~ ~ 1 a:27 The y~atity o[ the irna~e b cgni~ sknt la tht gnallty of f or ari=iosl daad~tat. DESCRIPTION: DafIBIT C LOST LAKE RFSERVI?OR ti00K 1~6 PANE 1627 COMMERCUL That part of Section 32. Township 22 South, Range Z6 East, Lake County. Florida, described as follows: Coarrneace at the Northeast corAer of acid Suction 32; theme run N89°00'42`W along cht aarth line of the Northeast 114 of said Bettina 32 far a distance of 1981.58 fat; tltenf.r run S00°02'42"E along the East Line of the Northwest 1/4 of the Northwest 1/4 of the Northeast 114 of said Section 32 for a distance of b33.Ob fact to the South line of the Northwest 114 of the Northwest 114 of the Northeast 1!4 of said Section 32; chance rues N89°04'29"W atcng acid South line for a distance of 71.86 feet tb the POINT OF BEGINNING; thence rues S00'C10'00"E for a distance of 37S.2f feet; tbeaoe rtrn 567'14'34'E for a distanct of 837.53 feet to a paint on anon-tangent curve concave Soutbeaaterly having a radius of 2030.00 feu and a chord bearing of S22gtb'19'W; thence run Southwesterly along the arc of said curve through a cxatrai angle of 02°12'29" far a disance of 79.00 felt to the point of tangency; tlrcxtoe run S21~40'04"W fay a distance of X17_,62 feet; t!>ence rvn N68°19'S6"W for a distance of 15.00 feet; tlrcncc rues S!1940'0~4"W for a distance of 280.06 feet; thence rues 568~9'S6"E fuz a dis:sacc of 356.37 fax: them run SQI'OS'27"A' for fi clist~ of 67.3$ far thence run S73 99' 19' W for a distarce of x.59 fax; tlseaca ntn N68'19' S6' W fru a diatana of 16.09 feet; thence run 51043'37"W for a distance of 433.45 fuel; tbcarx ttto S00~0'00'E for a distance of 216.66 feet: thcsrct rtra S1b99'21'E for a distance of 413.50 feet to the North right-of--way line of 3o1u1's Lalte Road; tlteace run S18`~16'41'W along a radial lines for a distance of 8(1.00 feet to the Boesch right-0f--catty line of said Iolm'a Lafue Road sad a poitrt oa a non-tangent gave concave Nortlyer3y having a radius of 1540.00 fioet ark a chord bearing of 57432'28"E; tberioe run Fssurly along the arc of said curve and acid Souuh right-of-rvay fine through a oedtrai aasle of 0638' 18' for a diatima of 178.43 feet to a lira; thence run S7792'lx"E abng-said South right-of-way liAe for a di:s~oe of 3i7.95-fact; tbeacertm. S0093'OQ'E fur a disance of 965.09 feet; them rues SSS33'07'W for a disdmce of 142.16 feet; thence nm SS+438'S6"W for a disptnoe of 201.Sb feet; dfenoe rim S53'07'SO'W fur a distanx of 206.75 feu: t6ienoe rt;n Sb4°SS'SS'W for a d"atatscx of 143.29 feet; tioaf; rtm 523°01'OS"E fut a distsaa of 1$5.32 foot; tfiem rm- S64S8'SS"W for s distance of 1S.OD far: thence rnn 5?S~I'45'E ifr a distance of 204.67 feet oo dse point of cstsvader+e of a curve coarave we~erly iavigr a radius of 400.Oa fact abd a chord baring o[ S 19°i 1' 13'f:; tlteacs rrra Sarrtherfy aka the arc of said ceavoe throerglt a asvual angle of I 199'40" for a dirttaoc~e of 81.41 fax oo dta Soati fine of dte Soutieasit 114 of said Section 32 and dre point o< ~7r: chance run N89'S6'38`W akwg said Sowh lice fbr a distauoe of 571.~t fe,er a ttta Easserly ri~tt-0f-rvay llme of U.S. I~rray Nstnsber 27; tlteaoe ntd I~'i2'33"W afio~ aid F.~cly ri~tt~f w-ay fine for a distance of 437.15 ds+at to tie rNat ~ at the Soa~t 11t o! ties Saultw~st i/4 Of the Sowiast 114 of sand Bettina 32; tlbeace rtam N00'13'00`W afo~ acid wsat line f+or # diatmce of ?26.d'3 feeet to tie Norti~t oancr of die Sarbearc 114 of die Soudrrr+at i!4 of tin Sordtasst f!4 of said Sation 33; tia~c~e ton 1+t89"Sl'4I'W •io~ Isra taaaf~x~ c~.rw ~. nrtar~ sat tti - taw r~ nrt~sst s+a ~~ t acs tlagw i of 3 oft ioo~c ~ vAe~ i~a 5outb lice of the Northwest 114 of the Southwrvt 114 of the Satt6aWt 114 of said Sation 32 for a distance of 9$.34 feet W the aforwid Easterly rISlu-0f-wsy line of U.S. Ht~w-ay Number 21; thence run the followiaj three {3) courses alon8 said Eaete:ly rl:ht-of-wny Wye: NZI'~9'31"W for a distance of 667.33 feet: thence nm N23ti9'2S*W for s dist^acx of 400.00 fees; thence run 1+131 ~7' 10"W far a distance of 281.50 feet b the West line of the Sms~.Ndnr 114 of the Northwest 114 of the Sootbdut 1/4 of said Section 32; thence rvn N00'O6'O3`W aloes said west line fns a durmce of 40.13 Poet oo the Soudtwest corner of tht Northrreet 114 of the Notthwat 114 of the Southaet U4 of eaid Section 32; thence ran N89'~10`OI'W slnas the Soath !line of the Sout6mt 1/4 of the Northeast 114 of the Soathweat 114 of said Saban 32 for a distaaoc of 24.24 feet b the aforesaid F.asbrty rishc-of-rvay lice of U.S. Hi~6rvay Numlaer Z7; thence ran the ibllowins seYea (7) course sioa8 said F.eeoedy righter way line: N31'O7' 10"W for s dsgmoe of 123.61 lhet; thence rnn N23'n9'24'ViI test a di:t~mae of 1t1O.00 fax; thedx tvn N16~+4'07'W for a dist~oce of 303.'9 Beet; thrace rues N2Sb9'23"W far a disnrrce of lIQ0.00 !bet; thence rues NtZ4'3O'33"E for s distance of 5.00 fxt; tbeux rtm N23ti9'23"W for a disvoct of 330.00 ft+et; thence run N31'16'2O'W fx a diepmce of 217.96 feet to the North lice d the Soathess~t 1/4 of the Northwest I/4 of slid Section 32; thence rues S89'!3'38'E alaag nid North line tot a distance of 567.70 Beet tv >~ Nartheeu canner of the _ Soatheast 114 of the Northw-at 114 of said Section 32: thts>a ttin S59'18' 17'E alai the South line of the Sauhw~at 1M of tbt Nathw-est it4 d ne Northeast 1/4 of Mid SectiM 32 fnc a _ distance of 2b.OD feet; thence rns N04ti6'03"W trloos qb Ert l~oe o~ f6e Wdt 26.00 !eR d the So~rtsi 114 oidse ~ Sl4 of fist ~ iii of said Ser,.tion 32 for a distance of ~~ . b34.69 feet b the Soatb tine d the Northw~vt 114 of the Naclhrr+at 114 of the NoAheast Z/4 d said Section 32; theeoe tnn S'd9'b4'29"E along ss~id Saath lice fdr a dietagoe of 362.02 fleet to dte la4It~I OF BEAD4NII~IG. Camiming 135.806 arses mar a less and beias subject to nay ci~~E wa3'. rertricti~o+oE and rasemeats d n;cad. is rquiv:lent ~o c)tr 4~Rllly of thr ori~iad clocna~e~lt. OR BOOFC i>~~b pp~ 2~g t~ C S ~ Ss1 ~ ~ ~:~~ f ~. ~ ;~. .,.: j -~ ~-- _ ._~ '~ „~ 1 a ~ --- --- ~~ ~ a ~ ~ ~ ; !1 ~ ~~ ~.: ~ 1• • • ~~ ~ ~~ ~~ ~~~ ~~~~ , ~ ~ ~ _- ~ ~ ~.. ~~ I - ,,,_. _ - ~.e.,.~. ,~ -~ sru~e~c acae~,. ems. ~ ~. ~ ~ ~ ~ #~ ~ ~~"a~~~, ~~ ~ `~=ifs ~ -- ._.. 1 ~ ~~ ~ ~ ~ ~' ~ ~ ~~~~~~ ~~~ ; 3; ~~s ~~ 't E .. ~.~ :. ~~6 ~~~ ~ ~ ~ r ~ ~ ~~ ~ t ac ~~ __o .. ~, ~ ~ ~ ~ 3 ~ f ° ~ z is sG I~f i~~ i r ' "1 y~~ s ~ --- ,~ ~~ ~ .. S`i `` s '~ ,, ii~c~e 3 sf 3 oR t#piou aawb p~1pE tt~ ARTICLES OF INCORPORATION OF LOST LAKE RBSBAVE COMMERCUL PROPERTY OWNERS ASSOCIATION4 INC. Ia compliance with the [awe of the State of Florida. the undessignod do hereby voluntarily associate for the ptn~poie of focmiaS a caocpoKStioa not for-profit for the pneposa snd with powan eat forth herein All capitalized terms oral forth har+ein, to the extar~ not defrned barein, shall have the meanings set forth in the Declaration of Covenants, C.ooditiam, Restrictions and F.aseonents for Lost Lake Reserve (Corr~rciai Areas) to bt rcovn3ed in OtIiciat Records of the current public r+eoords of Lake County, Florida, as it may be modified and supplemcatod from time to lima {"j~j~ jflp"). Tho r~ o€ the o~ is LOST LAKE RES'PR~'E COMAIERCiAL PRQP'FRT'Y OWNERS AS.SOCUTION, INC-, hacinafter iefernDd 1R as the ",' The name and addraa of tbo R~oSistered AS+eot of tlro Assoais6on ia: F. flood G~addock _. . . .. , ..~, ,w_..._... ._,,_ , _ ,.: ~,._33 Eart..WallSt...,., __,._ _ Fruslpao~, Florida 33E~63 . Tb~e pratw~pe~1 otRoe of the Aasoeiariaa ^b^il ba 1oes~ed at 33 B. Wei! , Fro~roofy F7aida 33863; bat the Association aaary mairreaer oflioes and tatraet baieeoss s^cr piaoas~ witbia ar wetl'eoat the Stara of Floridaw at mty tboea tuna to lase be doai~led by 8a: Bo~e+d of Diaoctars. ~. ~ 'Ire A.^ocido. ao...ot ~M~s ~r r ar pao6t ~ it Y..ti.:. 71ws . ~ paepo~ae for w-hiei it is 8esai are b aFeasls r s wewra^t b - - C9rplrx 6IT, Fio~rids 91aAMea ari !s ro~rlds ~r `sorree~oR pewssalie^ aer ~ eawdd of all ore ~ tlq~rlr art 1r Cosre^a aB srii tiei oerleil 1 Oll 1tDOK ~+-~ i+~A6E l ii l tract of land described in the Declaration ("$*), sa sueE- ix supplemented from limo to time, all for the mutual advantage and benefit of the Member of this Association, who shall be the Qwners of the Parcels. For such purposes, the Association :hall have and exerciser the following authority and power: A. To exorcise all of the power -and privileges sad to perform all of the duties and obligations of the Association as set forth in the Declaration, as the same may be amended from time to tune as therein prvvidod, as wall as in the provisions of thcac Articlca and tho Bylaws. Tho Declaration is irxxarporatod herein by this reference a if set forth in detail. B. To fix, levy, collect and by any lawful means enf'orrx paymeat of all Assessments pursuant w the lama of the Declaration. and to pay all expanse: in connection therewith, and all office and other acpensos irtcidcnt W the conduct of the business of the Associatian, including all licenses, taxes or goverrunentwl changes lcviod or imposed against the propa'ty of the Association. C. To aoquir~c, by gift, purohasc or fltherwiac, owes, hold, improve, build upon, R ~~, ~eY. srl1. kale, txausfer, dedicate far public use, or otherwise dispose of real or personal property or arty iasprovexaanb thereon in casmodian riitit the affairs aFthe Association. D. To baraw manly apd tv mortgage, pledge or hypothocate any sad aU of the Associadaa's real or personal property as security for moosry bortawad or debts incurrod. E. To dedicate. adl or tramfer all a say part of the Corson Property to say public ageoay, authority or utility. F. To partitipato is magus sad cousolidstiaos with other aaaQrnfit cocporatims organiaod far the same PmP~ __ _ _ .: .. ...:_ _ _ _ ._ . ,, v... ~. b , . G. To make„ est>tblis6 acid amatid reek rules smd reguls~sta i the use of the Pa+mels and Coauao~n Property. H. To marntaiq ropaiur, replace, operate snd masss;e the Coounon Piop~atr. I. To anplo~r pess~oand, s~aaits or iadepead~aQt oonbscloss b perform tue services :tequked fur tb~s p+~oper oparadoa of tl'e Carsnnoa Pt+o~pergr. ]. To mcercise dal ooevul over l~sov+eesesas writlbia the Prop~artr perwssrt to dre ruts pssMed b tlbe Arocistioo iia tlir DNClsradaa. K. To bave ssd to eaoseiisr swy and sU pasrws, ri~<r4 aed priv'ierss wlrio>t a ooepoeatioo oepuised tstsder ~s >~ of tre Stsa of F1oei8a ittrgr a~o+r or ltaeaAer ltan+s or a~osrrise` 4 2 t]it tt~00K ~2M5 PA9E i 63t All of the Association': assets and earnings shall be used exclusively for the purposes Kt forth herein and in accordance with Section S28 of the Internal Revenue Code of 1986, as amended ("~~"), sad no part of ibe assds of this Association shall inure to the btnc5t of any individual Mcmbex or any other penon. The Association may, however, reimburse its Members for actual expenses incurred for or on behalf of the Association, and may pay conspaswtion in s reasonable amount to its Manbaa for actual :crvicet radcrod to the Association, a: permitted by Section 528 of the Code, other applicable pmvisions of the Code, fedexal and state law. la addition, the Board of Diractors :hall aLo have the right to acer~cise the powers and duties set forth is the Bylaws. A. Every person o: entity who is record owner of a fee or undivided fees uster~est in any Parcel, including Lost Lake Reserve, LLC, a Florida limited liability company ("pcvc') cad contract seders, shall be s Member of the A::ocistwa. The foregoing is cot iatrndod to include persons oc entities who hold sn merely as eecarity for the paforrmaoce of as obligation. Membership shall bz appurtautrnt to and may not be seps~ed fmm ownership of any Parcel which is subject b by the Assvcistiout. B. The traASfer of the asember~ip of any Qwnar shall be esE:bli:hed by the rooording in the public records of Lake County of a deed or otlaii instrument establishing x transfer of record title Oo atty Psrceb for which merabaahip has already been established.. Upon sudt rooordatiort the aanbexship intee+est of the trarnsfaor shall innnnediddy taminatc. Notwithmediu~ the fnrrguing. the Associativice shad not bye obligated do reaogrri~e such s twosf'er of membeaship tmtil each time ss the Asrocisyaa rtxeives a copy of the deed at ot°har ia~aeat ambushing the transfer of aanu»bip of the Psrcd. It shall bt the teip~aabiHty .. ?~ obbg~tioa. of the former asd oew O+~nrr of the PattMd to ptavide such cyapy b . tha Aasocaation. . ,. V C. 1'6c interest of a Mmbex is the [nods and accts of the Aaaoc~atioa canoat be as^i~ied, hyPothecatad a aatasfarred im arty aiaraser, except a sr ~ b the Pared owned by s;rch Member. A. 'Tire Association slid! hsrra two ~2) ciasoes ofvotiaB hiaabees, as lbllowreo 1. ~.e. C>~ A 1itewben atttll be ap C~waeee. rritlit flan aoeptioss of Drrre3oper ~vltiis ~ [:lsra B Mss~rbasbip sstisls. CLa A Mesabers s11aR be ealtied b ace ~o1e for as o^alsi (ili0~ of a axae o+rsed. Wien s~sosetlrrtoae peran~ ioide a iMeeaR iuap-latwR. sill t~reipsssossit;ll be li[enrbe~er >bo~r+e~ the voles foe aiser lssai ieR bs erairciret r tisyr ill delsrs:~a aoa~ tMew+ssiws. b^t ie ws w.^t ii saw t~ asts 3 OR 1001! t#1Mb PKIAE t t's33 vote for cacti one-tenth (i 11 Oth) of an sere be cast with respect to any Parcel. Until Turnover, the Class B Mamba shall have the sole voting rights, aRer Turnover, the Class A Members may vote for the Board of Directors and to approve or diwp~prave Major Ameadmes3ts and iKinor Amendments, as hercinafta provided. 2. Class B. The Class B Member shall be Developer and ahAll be e~ntitlod to the salt right to vatc in Association mattesz until the occurrence of the earlier of the following events ("vim"): a. Three (3) months after the date an which Developer owns less than tea percent (10°/.) of the sggngste area of the Property aril Additional Fropetty (less the Common Area}. b. Such earlier date ~ Developer, in its sole discretion, may detaminc in writing. B. ~t4f Amendments. After Turnover, the Member: of the Association are stxxi5ca~lly roquirnd to approve the following ameada~aat: or change by the sppavval of a majority of all votes in the Asso~ciatiaaa: -- l . Aen~nents of the Doctsratiua. 2. lets of rho Articles. 3. Dissoiutiarl of the Association. The fareg~ving ar c are baeinaiter refemod to ss "~jg In otdet to appove say of the g Major Amlea~maats, sach aaaanduKat a char~c mart first br appoovod by s rna?ocity of the Board of Diract~ors. The Boyd shall thm cause the secretary to give notice of a aledmg m be hdd m sooner lhse thirty (30) dsys niter the notice, which noticx ahsdi sts#e the time date sad pls~ce of the n and shall stalk the protwsod Major 3be twtics shall - abo eacbse a proacy desigr~tioa sad a wrrittea br11oR >roem. F.sch >ld~anbar ~ cast its tr~oses prior tp ttse a may daigaak a pwary ro caK fits rotes prior - to a at rho auo~. ?he peoPosed M~ Amaodramt roll be domed sppo~v~ed it a myority of aQ r+oias of all Membees eawfed b v~a1a appa+avae the ptopoaad Mai jor Amendmnt. If ~. a mrijcxity o[ ~-olea i# not obtaared sitl~ar appa+oviog a ddappsavis~ the >l~[spar - Amsedmaat, ieo the Board sas~r. belt is not trgi~e+ed q s~asd a ttotioe ngreatin~ all >)rl~bocs a6a id eat ~ b east; ihar ba1SoR appari~ ar diss~ppw,ari^g thn ll~aja ~ sod tlsl~ieas dse Asro~aati~oo roceiv+es a myocity at ail ~o1ea - _ appe~o~-is~ the lrlsjor ~ wilhist t3siaty ~ dsys of tis . tlM Aasaiadoert s>ba6 be deesead aasppnnred. >ts the newt Th^tt a pwpaaal is - - ~ to sad a Srppieawrealal DecLrstion w-hi~i encwisbas aaly specific 4 o~ ~ooa tt~ a~e~ tr~s~ PmP~Y ~ don ~ affxt the right: or obligations of Owners not subjtxt to such Supplemental Doclaration, then an amendment to such Supplemental Declaration shall be made if approved by the majority of all the votex of Mernben :ubjcct co such Supplemcntai Dsclantion. C. Mj~t Amenrdmcnts. A.R_. Tw-r.~vcr .:~ Manbrn art required to approve the following actions or amendments by a majority of all votes ~ wltietbcr in person or by proxy: 1. lacrcaaea in Assessments in excess of fiftoea percent (1S'/.) in any one Y~• 2. Levying of Special Assassrnents. 3. Merger or wnsolidstioR of the Association. 4. Dedication or conveyance of Common Property {excluding the gnat of as pudnent, license or use right for s utility, or other public p~upc»e which may be grantod upon approval of the Based of Diracturt.) 3. t~nmge in use of reserves. The fa~,g arseaadmrnts a charges are hertinaAer collectively rief'errrod to as In ceder to approve nay of the foregoing Minor A~ such Minor Aaxadmexrts must first be appriaved by a majority of thz Hoed of pirators. The Board shall then cast=e the secretary t'a give of a meeting b bK bdd rw saoaer than flatly {303 days actor dre notice, which aot:ioe sha11 state the peopwed Minor Atnea~t. The ewsticx shsU also er~cloae a pevxy designation sod a . , ... .. .. wnatten bslbt farm. Each Manber rosy cast. its voter prior to or at the m~oetiaj or rrtsy desiarate a proxy to sat its votes prior uo or st the itaeeting. '!be Minor ~ shall be appe+owad or diatpproved by tht: tnrjority of vnbrs sat at a bdore die meetirli. is paaoo. by prmcy or writers ballot. p[ovided tbnt d~aie are st leant thatp past (30'K) of the vvtea sac is parse by paoa~r, a by writtat badiot. D. p~ At aII mowags of M~aabars. a~c6 lrieaober ttiuy vote ®pasoa or by pr+ooq-. All prvx7es shall be io asd Blod vrigE Ilse Secnetaiy. Praxiea shall be _- daeed, state Zbe date, time ttnd pf^oa a-t the arteertigg for vrtiici it srs given and be ~- ~ Pn'~ ~ ~ alb ~ l~]-. A pr~oetp ery paetnit dre bolder b appoint i wririy a wbMbrs 1~oide~r. Attry lP~y tdrll be ~iiaatirre oaii~- 5or the ap~esiBn =reac=t for tirbielr origi^~r Si+nst and ssq lan-drill- a~orrrsr~d ais~a^IirMs ~aieat A pe~oory is not s-alid tvr a i~ee'iod Toyer tlws ^ieety ~ ~ cedar tltie - _ dace of the hart oewiad dot Nd~b lR n-ae pv~. A r~mq-r arrocsbie at walr tie at die pirartrne ot'dte >~at wbo eaceeeera it. ltoscies nerd not 4o nolasiaed. S att ioou a~trat ~ it;~s E. Waiver and ~artsr.nt. Whatever cite vote of Manben at a teaaking is roquirod a permitted, the meting and vote nuy be dispewed with if the applicable percentage of the Members wlta would have been requirod to vote upon the action if such meeting were held, shall consent in writirt~ to such action being taken. My such coaknt shall be didrtbuted in accordance with the rules and r~utstiont adapted by the Board of Directors and an executai cagy sbttll be placed m the minute book. F. ~~. l , $yJ v~p~. Developer shall bsve the right, but nvt the obligation, usttil Turnover, from time to title, within ib aok diacretioa, co aterge ar canwlidste this Asaociation with any other property ownas ar#ociatiou. 2. ~. After Turnover, the Asaocisdoa may be merged with another assacistivn if approved as a Minor Mtertdnneat. 3. ~' ff+~. Upon a merger or caaaolidatioa of the Asavciatiatr with anotita' prbpetty ownexs aswciation, the Asaoci•tioa'a C.amnoet Ptaporty, rigl~ and obligatsoos tnay, by opQSRion of law, be tr•nafemed ~ the aurvivittg ar corttalidated a•wpstiaa, or alternatively, the Praparty, right• and obHgstiom of another property owners •a^ociatbn m•y, b7 oporatrioRt of law, be addod to die Gammon Property. riffs and obli~tiarws of the AaMOCiatioa, as a w:viviag aatporation pursitaett to • merger. To the p~+eateat ena~ prscttctrbk, die aurvivicrg a cooaolidarod prapaty o~w„ers aaociatioa ahall adasianiaeer the oavenar~, eaditiaua, earaneals and tatrit~iena eanbliahed by this Daclaatioo within the Pe+opaty, together with any aurvirigg oovenaa~ts and reatrtccioea ert•bWho~d Mpaa soy odter prapetties as ons •cbern•. but with wrb d~ar+~s m the aaethod or kid of A:ratmatoe to be la+ried ~ the Property and the otlrr peopertio• as .. _,- may be appr+opr~ai+e, tail mto account tlta arelseu-or°araoaat of ae~rica In be r+endarad to the osvuer• thereof by the aervie-ia~ or oootolidsted aaaociation. No wch aaar~ or eoaaaiidMimt. harrer+ea; ttt~ adact awry c~+ocatloa. change, yr addition ;o dta acree~rtaola es4blealted by - this ~ mcoept r y aaopled m ac+ooedanoe t~ dta tonnes ba+eolw The albs of this Aeeociaaaa ahedl bo aaaeyad b-y • 1!a•ed of Di•aeloett, wt~o ttlt^Y w _ lrLedtbroes at dM Aaaoci•doay peo~vitlad, bo~.rsvt+r. tit •^t~ T~ooMrr. ttia t>Nri aiot b• Meorbers of tb• Aaaociatioa 'the ntt^abar of 1'~ircl0es o[ t#• Aroc~iaa i•1 tis a~ot Mw tYet - dtree t3) aa• moNre elr a•Nw (7). . Until T~aa+~r, tlr 8o^ad ai^11 c+aaaiat of Diraaots appoi^raad hj- ett car ~ bia^tiaa _ who altaY aer'MS aatlil ties ~ 8 itiwtl~•t to ioa~ar 1r ~• ~ a a~~oi•R att~ Di^aeotr. oR t~oaa ~~c ~ i~ At the fiat annual meeting alter Tunrover, the Clas: A Members shsU elect o~~e-third {I/3} of the Diroctar: to be elocted by the Clan: A Members for a term of o~ (1) year, arc.-third (113) of the Qirocton to be elected by the Clw A Manben for a term of two (2}yea:': acid ono- third (113) of the Directors to be aioctod by the Class A Members for a term of three (3) years (should the membership of the Board not be dividble by three. then the classes of diroctors Qhould be made a: nearly equal a: postiblc}; u esch annual mating therrefter, the Members shall elect the Directors to be elected by the Class A Members for tams of three (3) years. Providod however, far ao long as the Clew H Member has the right to appoint the minority of the Directors or at least one Diroctor, the Cisa 8 member shall appoint and replace such persons st its mole discretion. Any vacancy on the Bond of Dir+xton which is pot subject to eppointsUUmt by the Class 8 Mmnbec shall be fillod for the unexpired term of the vacatod offict by the remaining Directors. T>5ia corporation sharlI have perpetual existence unless ,sooner dissolved in accordance with the provision: herein aanhinod or iA accordancx with the laws of the State of Fbrids. T'he date oa which corporate exidmoe shall begin is the date an which tbae Mich of Inootponti~oa are bled with the Socntasy of State of the Stste of Fbrida. T6a Associatiaa taay be dissolved with the saaeat given is writing and signod by erot less than seventy-five pa~xat ('13~G) of the vote of slab elm of Members entitled io be wt in aaoadaeacC with the provisioess of the Decla~ioet. Upon disaoludon of the Assodation- other than incideatt tv s merger err oonsolidation~, the ssseb of the Arociation shall be dedicated to aei appcnpeistc public aHagcy to be need for purpaes similar to those for which tlhds Awoaaeiaet as . - .. ua~ted, or.foctba.ai ~ndfat+e ofths r+eeiden~ of the Bounty in wldch the P.ropcaty is ]o~ca~od..~.,,.~~._.,,t.,.:~..~.....~,..r, . 1a the event twat such dedicstiaa is rdwal acceptaocs~ such assets shall be graexed. aoetveped and aeeigno~d to say nonprofit oorpontioe, aaaociati~ou, trust a other ar~tion t4 be demoted b similar purposes. Sv~act to ttre d~ectiao of the 8aaad of Dir~eclonr, the sffiiirs of tlas Asso~aatiaa abrdl bs admid hry- ib o~ceer„ as deaprled m t>m Bylsas of this Aaro~iaRioo. Said ol5eas aha~l be elected aaewUy by the Boned ofE~cioes. Tl~e Hpls+irs of t5ia Aasoei~os3 slew ba aiop~ed bq ties Best Hord of Dieeclos:e wl~ Byle~as asa~- be aMa+od, aeeea^ded, aaodsiged or appet~lsd is 11tt asseraar art 1-oe~ is Hts Bplwa. 7 OR M]Oit f~PMfi pfd 1637 Until Turnover, Developer rcaerves the exclusive right to amend or rq~eal auy of the proviaioru of these Articlas of Ineorparatian or sny amendments hereto without the ran~ant of aony Clas: A Member or Mortgages. 'IbergRar, the Association shall have the right to amend or repeal any of the pmviaior>a oontsancd in these Artirla or any amendments hcr+eto, pravide+d, however, that any such amendrrlent shall requiro the weal of Mdnbezs holding seveary-flue percent (75'~i) of the votes and pravidod, flusher, that no arncadment shall ooatlict with any provisiotu of the Declaration. After Tumore~r, the comaaat of nay Mortgagoa shall be required far arty runadrnent to these Articles which impairs the right, priorities. rernedia or iatesat of such Martgagen, and web eonscrrt shall be obtained in aceai+darioe with the temps and conditiotu, and wbje+ct to the time (imitations, sat Earth izl the Dxlaratian.. Ames~daxats to than Articles Head only be filed with the 5a;retary of Stara and do not Hoed to be rocor+ded is the public rocads of the County. This Axiocxezictt :hail :fy any sad s!1 of its directors, c~fBceee, e~oyoes or marts, a dirodors permitted by laver. Said indemaiHcatioa stall inchrde; but twt br limited to, tlK atpCnses, inrchding the cost of my ltdgmaata. fines, sdtlemcats and cataral's foes. adwlly and nocewa~y paid or incurred in coan~odioo whir nay aatiaet, suit a pnooeoding. whdlspe aril, aianinal, ~•-+e or iavastigativ~ sad soy ~ ~~ ~ which mY such perwa or his kgaJ representative may be made a party a may be tltiratenod w be made a 1~'tY ~ rrasan of his bang or hwiag boea a dirx~or, a,~cer, anpioyee ac art, as herein provided. Tlk for+sgaiag right of ' a shall not be itietudv+e of nay ostler riShts to w~ nay such parson .may be entitled as a Hussar of 4w err svhic& ba may be !sw-fblly granted. It ~_ _.. _ . _. _,__..ahwll be,t1~ ob~iptioo of.tlr~..Aarocistso~._%abt~in,ud .heap m ~ a polity of officcas' sad _ _. , di~cood' Wibility awtcaoce. The rname and addreait of tde Inc~orporalor oftbe oocpoeatan is: K. Tyler Hill. Esq. . ~ Hiri, Wan! ~ Iiel+daeMOe, P.A. lol ~ R~.edy 8tarierae~d, sr. ~rnlo '~'aaspa. FbeswYt 336 i OR ~t ~l+~bi Pii~ 1 i~ LN WITN1:'SS WHEREOF, far the psupoee of forming ttus ~eaciatiot~ uixler the lawn of the 3tatc of Florida, the underai~nod ttiu executed theee Articles of IncAtporatiae this day of December, 2001. K. Tyler Hill, Esq. 5TA7'L OF FiAR1DA COUNTY QF HILLSBOROUGH The forv~in~ t w-as scla~oaled®o~d before me tbns aay of December, 2Q01 ~ by K. 'I~-1a Hitt. w-Iw v panotisliy imorvn to nne. t~totary Pnbiic, State of Florida tea: ~~~ 9 OR BDOK ~lMi a~ iL,~! CERTIFICATI6 4F IbBBIGl~1ATION OR li.ACR OF sUSlriIY88 OR DOMICII.d FOR TBL SRRVICE OF rROC~88 WI1'Hi~1 FLORIDA, 1~A140NiG AG~IyT ~~~WHQM tROCE-~ M~!t E i~~V~D Ia oomplianca with Sedioo 45.441, Flaidi Statu~ea, the follo~vinS is abmittad: I.oat Lke Raa~vc Comax~rciel P~tr Owaers Awvci~tioa, fnc., d~eririus to orpa~i~ rx quslii~r under the >anvs of the State of F~otitV. rviih fn pdn~l plea of baair~w is the ~o~mty of Folk, Stace of Florida, has n~ne~d F. iiaod C`nddo~.lc aLoaa addc+at ~ 33 E. Watt Street, Fratproo~ Fbrida 33863, as ib agent b adapt ~ervioe of procaa within Floods. K.'tyrlar Kill. Inooiporsotor Drta: Deoa~nber ~ x001 H~t~-ir~ bean named 60 rervice of pea~esa frx the abo+ro elated oorporstiaa, st the P~ ~p~ is the ceitilicatg, I aSc+ae b aot io drn ceparcity- and i d~elber a~ee to eoaaplr with Wa pro~vuions of all. raaamea r~ehbi,r~e b the paper aed ooanplete pecfoceaiaaaa of my dales. F. Iiuoc! Cnadarlr I]sler Draoambar,+, 2041 a~+t ttooa rib t~ t~ BYLAWS OF LOST LAKE RESERVE COMMERCIAL PROPERTY OWNERS ASSOCIATION. INC. The name of the corporation is LOST LAKE RESERVE COMMERCIAL PROPERTY OWNERS ASSOCIATTON, INC.. herciaafter rcferr+ed to as the "Aswciation." The initial principal office of the corporation shall be located at 33 East WaII Street, Frostproof, Florida 33863, but meetings of Members and directors may be held at such places as may be designatod by the Board of Directors. All capitalized terms set forth herein, except as specifically set fortb herein, shall have the seine waning ar~d dcfutition ss set forth in the DeclatstioA of Co~-eaaats. Caaditioass, Ratrictioa: sad F.asatrertts foe Lost Lake Reserve roaxdod is Official Rocards Hook Page , of the cwsGnt public ra~rds of Lake County, Fbrid!a, as such stay be modified and i1{pplemeated from [tI17e 10 tone (~QQ"). ~ The regular meetings of the Mernbe~rs shall be bcid on a designated day of November of each year haa~fta, at the hour dedg~od by the: Board of Director iut the aoadve pzovided heraabebw. ~ special Moetiaa. Spacial rnoctiags of the Membees may be called at arty time by the President ar by the Beard of Dira;tors, or upon written request of the Manbers .vbo are errtitlod to vote ones-foemlt (l/4) of aU of the vales of the Class A Matrbaahip. Btuirtas coaductad at a spacial %s litaitod b the proposes dncnbed is the notice. -= a. Writt+eo notice of each >aaoetiu~g of tht Meatbas siAall bs Bivea by ear st dte . directiaa of the Seoretttry a persoet sWdwriaod to all the mee.4uor~ by band delivery b +eadt Parcel. or by a>aailing a copy of sncL aQtic+e~ po~sti~e pr+ePsid, addr+eased b !Le ~ sddias Isst appearing as the boobs of the Aarsaciatioa for the parpoas of troeioe„ awl iert lflloes (i~ ds3w bat oar restore tbaa aiaety Z90) days bafor+e sash savetaag. b each Mes>oba 4rtided b lrrtle tlror+eat. -_ Said xtotioe atnrtl apaeity dte plso~ day atod hoar of >br meeting sad. is tlrs caress at s spaaaial meetietg. the purpose of the maexianng. If swik~d, tlts arotia shall be addrsasrd b t>be Mestrbars address iart appanrirt~ inn tlta baolu of ibe Aasoci~tioo for the pnrpbse of aaoeios; of b rite Iast address atrp~plied by me Mamba b the Aasaciation. OR 800K tt~46 Rii9E 1641 b. Any Member may waive such notice by a writing signed by such Member, and such waiver, when filed in the records of the Association before, at ar after the holding of the meeting, shall constitute notice to such Member. Attendance of a Member at a meeting, either in persfln or by proxy, constitutes waiver of notice and waiver of any and all objection to the place of meeting, the time of mating. or the manner in which it has boon called or convened, unless the Member attends the meeting solely for the purpose of stating, at the beginning of the meeting, any :uch objection or objections to the transaction of affairs. $4. VotsnQ. Members shall be entitled to such vales as more fully sd forth in the Declaration and heron. Until Turnover, the Class B Member shall have the sole voting rights. After Turnover, the Class A Members may vote for the Board of Directors and to approve or disapprove Major and Minor Amendments. a. Major Amendments. ARcr Turnover, the Members of the Association arc specifically required to approve the following atnettdmenu or changes by the approval of a majority of all votes in the Association: {i) Amendments ofthe Declaration {ii) Amendments of the Articles (iii) Dissolution of the Association s M~,,~',T~,h/ye,'+forcgoirtg arnertciment: or changes arr hereinafter referred to as "Major A7i7W RM~.N~. !n order to approve say of the foregoing Major Arnatdtneots, such a:ncadraertt or change must first be approved by a tttajarity of the Board of Directors. The Hoard shah that cau:c the secretary W give notice of a rrtecting to be held rtes aoorter than thirty (30) days after the rtotitx, which notice shall state the time, date >tnd place of the mediag and shall state the proposed Major Amamiants. The aotioe shall also stelae a proxy da~igastiou and a .vrittea bslParexl form. Each Member may cast ib votes prior to the mooting or may dauignaRe a proxy W ~ iu votes prior to or at the meeting. Thor prnpased Major Atnaxlrneat aha!! be dceraad approved if a majority of a!1 votes of all Members a>titlod to vela approve the proposed Major Amatdraent. If a majority of votes is not obuined titlta approves a di~tappraving the Major Wit, tbea the Hoard may, but is not raryittd to send a notice r~equestiug all Madbas wha did not vote to cast heir balParoei . approving a diaappr+oviag the Major Ameadrrtart sad tmkras the Apociation tecavea a majority of sdl voter apprttvittg the Major A~ M-ithia thirty (30) days oC ~e meeting, the Major Amardmatt thsll be donned disapp<vwed. Ia the Cvwt thst a pc~opoaal is made b maid a S~ Declsratioa Mrhich atatanbaa only ~i5e property add dos nw atifoct the rights a obGgationa of Qwrtats dal wbjea to such S~1 lflecfaratia~ than ad a+rxadaaeat to such Steal Declaration shall be usade if appto~+ed by tlbe majority of als the vela of Me=rtbess ettbjaa w such Sup~rlaia4ettal Dectaratiast. b. Mina Amendanatts. Alkr Ttrrnvrer the Merabees are tegaieed to approve the .. ~11o~vir~ actiaae or meats by a as~ority of all yo~oa ca^t. w>,ethec is pesaoa a 6!' proxy: ~. 2 lNt a0at tt~45 PiiBE 1 ts42 i) Increases in Assessment in excess of fifteen percent {1S9'a} in any one year. ii} L.cvying of special Assessments. iii} Mager or consolidation of the Association. iv} Dodicstion or conveyance of Common Property (excluding the grant of an easement, license or use right foe a utility, ar other public purpose which may be granted upon approval of the Board of L?irectora.} The foregoing amendments or charges are hrninafter collectively refcrrod to a: "Minor Amendments". [n order W approve any of the foregoing Minor Amendments, such Minor Amendments must fiat be approvod by a majority of rho Board of Directors. The Board shall then cause the secretary to give notice of a meeting Uo be held no sooner Clean thirty (3d} days after the notice, which notice ahdl state the proposed Minor Amend~rnent. The notice sleall also e:rclase a proxy desigttatiors and a written baiPar+cel form. Each Member may cast its rote: prior to or at the mating ar may designate a proxy to cast its volts prior to or at the rreeeting. The Minor Amendtteaet shall be approved or disapproved by the megority of votes cast at or bcforx the meetin~~, in pexson, by pmxy or written balParcel. There shall be nc gporum mquirerreeat yr roquit+ed minimum number of vales or baiParceL. p~jg. At all rreouings of Members, each Manb~ may votes in pasoa a by proxy. All proxies shall be ire writigg and bled with We Secrdary. praxis sbali be datod, state t>ze date, time, sad place of the meeting foe wfiich it was gives and bt sighed by rhea person autharizod to give the pmuy. A proxy may permit the holder to appoiat in writing a substiteeto holden. Any proxy :hall be effective only for tlee spocific muting far which originally given anrd any lawfully adjaterrerd modings iltcr+eof. A proxy is not valid far a period bnger than nireoty (9U) days after tbo date of the fu~st aeoetSrtg for which it wss givae. A prmcy is revocable at sny time at the pleaseet~e of the Member wleo txacutes it. Praxis Hood not bt Uvtarizod. ¢, Waives and Consent. Wliaeever the vote of Meaebas at a meeting is r+egnined a permitted, the moetireg and vote etquey be dispensed with if the applicabk peooeatas+e of the Manb~a~s w-ba would leave been regtare~d to vote tepose the action if such ne+ae~ing ~rere held, shall coasetN is writing to seeds adiote bans taloee>_ Aay sack coasaet shall be distn'btrt~ed is socordssroe with the rule: and ~ adopted by the Hoard of Direc~ats and as exewtod copy shall be placed m else n>iaute book. ,~ Qrdexs~ 'I7fe ads of budreaes at the aarwal meetias of Man6eti shall be sac folba-s: a. b, a d a C {~dl m aRdair Callus of ~ noll sad i praaciea P~naof otraties of saoetiiees or wrsitres' of aotiCa ~~~ Appoiat~raast of iseegeeeiata te#dactioa Nominatiae and deceives of Aaaaii of Dinc~ors 3 OIt SO©i( tf2M6 PAGE tb~3 g. Reports h. Unftnishcd business i. New Business j. Adjournment. ection 8. Adjournment. The adjournment of an annual or special mooting to a different date, time or place must be announced at that meeting before adjournment is taken or notice must be given of the new time, date or place in the same manner ds notice is given for such meeting. Any business that might have been transacted on the original daft of the meeting may be transacted at the adjourned melting. If a new accord laic for the adjourned meeting is or must be #ixcd, notice of the adjourned meeting must be given to persons who arc entitled to vote and arc Members as of the new record date but were not Members as of the previous record daft. ARTICLE IV. BOARD OF DIRECTOR Sx~~l. Number of Directors. The affairs of the Association shall be managed by a, Board of Dircetora of not less than three {3} but not most tban seven (7) Directors, who shall be Members of the Association; provided, however, that unfit the Class B Membership hsis terminated the Directors need not be Members of the Association. All Directors shall be elected or appointed in accordance with the applicable provisions contained in the Articles of Incorporation of-the Association and herein. Section 2. Meil>~ of Nomination. Until Tun~ovcr {as more fatty defined in the Declaration}, the Board shall consist of Directors appointed by the Class B Member. ARer Turnover, the persona to be elected by the Class A Manbas shall be made by a nominating committee a from the floor by Membas at the annus] meeting. ,~ l~Qp. After Turnovtr, the Manbas shall cast votes in rapoct to each vacancy. An tlectioa shall be by sxrsx writtat balPareel. Cumulative voting is not permitted. Tice ciertion of Diroctas shall farce place at the annual rnoding and Manbezs may vote in person at a aneding a by balPar~cet that. the INttaaber personally cants prior to audt mextittg. Those -- _ pcrsass reaceiving the largest n~unburr of votes shall be ducted, 'There shall b>r oo requiremart for a minimum number of votes east. At the ftnt aat~ual reeding attar Turnover, the Class A Manbers :hall elat oa third (1/3} of the Directors a be clotted by tha Class A Mernbas for a term of one { i) y+esr, one third (i /3) of the Directors to 1x elected by the Clas A Manbers for a tam of tvwo (2) yens sad one third (1/3) of tlse Direectors to be elected by the C'laes A lyat~be:s for a term of ~ (3) ysars (should the manbardtip of the Board nor be divia~ie by tht~ thm the chess of Dirocton shall be made tr lastly etlnal err poaa'bie)- ThacsRa, a!I Directors a~ be elecs'ed by the Ctars A tNanbas s4tll sx dated for a titnee (3) ye: tam. it bats: the itt~eat that the teams of me nir~eclors should be sta~aed. Psv~viidod ltv+~~ar, for ao long as ma Clans B Manba has the ~ to sppairtt t17e asia~ority of the Dieecteca or at iwt ore ninector, the t`tsa. . H I~tanher shall appoint sad re~laoe such persona as its sole discr,t~tion. ~ A Dinec~or may taiga at say woe by ~irery of s . wrrittaa notice b the Band of Dirt~oa, ifs tdriemaa err aotartary. The aae+caised absence of a Direc~ot Soot three oooiae~ao~ir~e rogtWat sea6gp of ttie Band sal be deemed a e Any B'rtrec~lor eJecead by ~ C'laa A Man+bas nary be =emo~wd ~aaa >he eased w-iftr at NriWo~ut 4 OR BOOt( 4'!45 DAA~ L 644 cause, by a majority vote of the Membcss of the Association. No director appointed by the Class B Mcmba shall be ttimovod except by the Clara B Member. A resignation is effective when notice is delivered, unless notice specifies a later eff'octive date. If a resignation is made effective at a Inter date, the Board of Directors may 611 the pcttding vacancy before the effective date if the Board of Dirators provides that the successor does not take office until the cff'octive date. lion S. CQ~pa~sstion. No Director shall roceive campaisation for any ~svico he may render to the Association.l-towevcr, any Director may be reimbursed for his actual expcnass incurred in the ~performanct of his duties. ~ Action T en Without ! Meetin4. To the extent pernsitted by law, the DirocWrs shall have the right to take auv action in the absence of a meeting which they could take ai a mating by obtaining the written appmvat of sll of the Directors. Any action so approved shall have the same effect as though taken st a mating of the Dirxtors. lion 7. Fa_lt~ to F' ], Vacanoies. If there is a failure to fill vacancies on the Board of Directors sufficient to constitute a quorum of Directors in accordance with these Bylaws, arty Member may apply to thr Circuit Court of lake County, Florida, far the appointzrtent of a rnceiva to a>aaaga the affairs of the Association by ratified or e+egistaed snail. At leant thirty (3t)) days before applying to tttc Circuit Court, the Mexttlya shall mail to the Association and post is a conspicuous ptsec vn the Common Property a notice describing the intended action, giving the ~'iaxiation thirty (3Ci j days; w fill the vacancie:_ If during arch time tl>e Assaiation fails tv fill a sufficient number of the vacancies so that a quorum can be assembled, the Mernba may proceed with the petition. if s reai:-a is appointed, the Assoxiation shall be re~apo~et3ibie for the salary of the recava, court cast:, attorrr~s fns sad atl othtx expatsa of the raavee:lsip. 'The r+ocxiva has all power and duties of a duty constituted Bonnet of Dirator: and shall save until the Association fills sufYiaiari vacaocia so that a quon:m can be asaesrtbled. dRTICLE V. MF_I;7IIVG OF DIR>rCTOttS _~ . .._.._ ., ,, ,~.._,..~ . , ~. ~,, Tbc newrly cloc~cd Board shall meet for site ptttpoae~s . ~~ .... • ,_.,:.. of orgarmza<ion, the eloctiota of offieas sad the traASacaion of other businas immodiatety rifler their eloctian a writhin tea days of same at such place and tidoe as shad be freed by the Directors at the eroding ad +vltich they wa+e ddtod, and no futdia noticx of t>be orgaairatioetal mediuAg shall be necessary. ,~. $~jp~. Regular meeoitsgs of the Board of Diratas ~ be bead st wch place and born as mry be freed from lime to time by na~oltetiaa of the 9atd. sad shall br opar to all Meatbas. Fate~t that bdwe+ar the Board add its atsorncy svitb trape+ct to _ pr+opoaod a pmdir~ iitiptioa w~lreca flee c~oataar~ts of the disaraoa would whacwise br gRrverned by attoresy ciimt privilege awry be cloes+d o4 Mmtbaa. Ice of test: asoetimp of the Dimctbrs sleall be pv~od tan tlbe Caa~tmoa Prvpaty at leant ~y{+d~ (~3 bones in adracace, eaccspt in sto emer~eaey. In tfia alsas~e. it aotioe is sot pentad in a ooaspiwors pl^oe oa the Caanmoa P~cpesty. the aiotiae of Ilrorrrd sadop ah~U be aouidled a deii~-ered to eKh ll~terasber at fart screen ~ Asa adt-attce. iai as area~acy. lrioticx of soy arcdir~ in rrhieJk Arr+arsepd apiRtat Tateei sr~e to bet atabfeiett siW S oR t~opa ~~s vas teas specifically contain a statement that Asses~srttrnta shall be considered and a statement of the nature of such Assessments. Should said meeting fall upon a lcgxl holiday, then that mooing shall be held ai the same time on the next day which is not a legal holiday. motion 3. 5g~i~ eetinas. Spocial mcdings of the Board of Directors shall be held when called by the President of the Association. or by any two Directors, aRer not lass than thmc (3j days' notice to each Director. ~~qn 4. Q~t~g. A majority of the number of Directors :hall eonstituu a quorwn far the transaction of business. A mooting at which a quorum of the Dirocton is present shall be desmed b be a meeting. Every act or decision done or made by a majority of the Directors pr+eaatt at a duly hold meeting at which a quorum is presast shall be regarded as the .act of the Board. if a quorum is present whw a vote is taken, the affirmative vote of a majority of the Mambas is the act of the Board of Directors. A director who is present ai a meeting of the Board of Dir+octors when corporate action is taken is deemed to have apentod unless he or she objocta, at the beginning of the meeting yr prozagtly upon his arrival, to the holding of the mexting or transacting of specified affairs at the rnaeting. or unless be or she votes against or abstains from the action ta:en_ ,~ Vatina. Directors may not vote by FmxY or by secret balParcc! at Board tncdings, except that secret balPar+cels may be uaod in the e3oction of ot~vus. AR~(~V[. , WERS DU~'IES OF THE HOARD~f ~' DIRF~LORS w~. The Board of Dir~octors shall have power to: a. Adopt and publish rules and regulatiarss iarluding face, if soy. govcrniAg the use of the Coaanan Pr~opaty and the personal cooduct of the Memt~as and that gmesb tharoo~n. b. Surd tfie right of as Q+vner to rase the Carnmo~n Property during any period in -.... .:: ,.. _ __ .which.the Owner shall:be..in dafartt:5ar-morn: thaa.~hut3- (30) days sAet notice of the payment of.-.~:...,,~, ...,~,.~..:.~..~.~ any Aaa;aame~rt is kwied by the Association. Such rights tusy also be wspanded 6rom lrlambeis, after c~atiac and harcitrg foe a period not to escood sixty (60) days for ir~irsction of the Declaratiai, Article a Bylaws. c. Appoint arch oarraaittoes a proscn'bod baRin sod sech. olber ooamo~ees as the Board of Directors may, ftem tinx to titan doom necessary os appro~pri~ d. Eafot+ce and all of the pravisioais of the Oec3aratiaa and tie tvlca and ~ gip- It a#tsU be tht daty of the &wd of Diratocs to periam lire foBvar;~ - a. Caw~a to be lmpt s oorstpiete :eoosd of ail its cacporsls sil6sist-r teiaaes - of ail ate. ssioe saeh rec~oeds sras7sble for irtspectiott b~- athr itieetbar ere ~ a~aat. Nd _ pesaeat as aaaaal wsleasaat dteraof b the Idsatbeea. htmtsiers of a0 seating of i)~aaybesa sad ~ board mat be msisnaisted m tt ~iwt~ea foera at is saodser foes titer cao ie ooMeted iota rrnlls Erato is s reaaoasbie Bost A. rak err abalasatias baw wtir~ ao edt trt^tier it sacY Die~ect+or - 6 ~ ~~ ~C"'M6 PAGE lbob present st a Board meeting must be recorded in the minutes. b. Supervise all officers, agents acid cmploycts of the Association and see that their duties are properly performed. c. Is:ue, or twthotize its agent to issue, upon demand by any Member, A certificate setting forth whether or not nay A.sseasment has been paid and giving evidence thereat for which a reasonsb[e charge may be made by the Auocistion or by its authorized agent. d. Designate dcpositorics for Association funds, designate those officers, agents andlor employees who :hall have autfiority to withdraw funds h+Qm such account on behal f of the Association, and cave such persons to be bonded as the Board of Directors deems appropriate is its sole discretion. c. Prepare the proposed annual budget, submit tht same to the Manbetihip for co~nents, srd approve the annual budget. f. Fix Arwual Assesatt~cnb (including nay resesves which the Bash deta'mitxsj, Special Asseasencnts, Emergency Asscssmeuts, Tract Asseasmertts and Parcel Asscaalnants st an aa'ouet sufficient to meet the obligatiaas imposed by the Declaration. g. Annually adapt the budget and set the date or dates Amts will be due, and decide what, if nay, interest is w be applied to Amts which raaain ra~sid tai (10) days after they become due. h. Sand written noticx of each Ass~cnt to every Qwner subja,i tl7a+eto st least thirty (30j days in advsncx of the due date of the Asscsaneat yr of the first imtailmeat tfia~ooE i. Cause the lies agaixtat any Panxl far which A:se~naus are nat paid within thirty .,,...,..e.,.:~..... (34j des. r~s alter the due daft b be fareclo~ed, or cawc an ad~oa. *,V law tv, be br!ou~t . , . .,, , _ _ .._ .._ Owns personally abligst~od to pay the:aae. - .. _ .._ j. Cause the C,oa~taaa Pmparty to be maintained itt secardaooa with the Daltsatioa k Prvcur+c and ratirrvin adequate liability sad haxrd isramoee oa d,e CAmmoa Y ~ by ~ De+ctaratioa, and such other iawranoe r die fiord of DalnNors dams rtpoa~sary ar ss may be ~ ar permitted by dK Uoelara~tian. 1. Pates into wortg~e agrOareao~s and obtsea capital debt dnrr~, w~bject to the - provysiam of the Declaratioo and Articles. oa. Ream aaipmstea of sq meatia~ v[ Members atsd of Ibe Haatd of Dinecaas is s - busimslBue msnoer, .rlsich shsU be svaiLble for eaypoetim ~ a their aalhoriasd and Hard members, at r~esronsbla times and far s peopar pmpoaa~ whielt reoasds - shall be retained for at least seven ('n y+ears- 7 t]it tt001( iEMb PAGE 16A7 ARTICLE VII. OFFICERS AND THEIR DUTIES Sxtion 1 • Enum~~gR of Officers. The off cers of this Association :hall be a President and Vice Praident, Nvho aiwll at all times be members of the Board of Director, a Secretary and a Treasurer, arxi such other officers as the Board of Directors may from tune to time by resolution create. Otncers need not be Members of the Association. Sxtian Z.Z. Elocaon of Officers. The election of ofl3cers shall take place at the first nseeting of the Board of Directors following each annual meeting of the Members. Voting trray be by secret balParcel. Section 3. ~g~. The officaa of thi: Association slia3l be eioetod annually by the Board of Dirxtora and each shall hold office for such period, have wch authority, and perform such duties as the Board tnaty dcterrnine from time to time. Sxaon 4. S intmegts. Tha Board of Director may eloct wc>t otter officers as the affairs of the Associations may r~oquire, each of whom shall hold off5ce for such period, have such authority, std perform such duties as the Board nuy determine from time to time. ~i ~ga~nation sad Removal. Any of5crr stay be removed from office with or vritLotu csutse by the Board of Directors. wry afl;xxr may zq+8n at ~' time by giving writton notice to the Board of Bireeto~rs, the Fresicia4t, or the Secretary. Such resigpstiaa shall take effect on the date of receipt of arch notice a st any Isla time specified thcrcin, std uaksa otherwise specified thacia, tl~e acccptapsce of such resignston shall be nocasuy to make it eB'ecfive.. ~iae 6. Vacancies. w vscsncy in say of~e ntxy be filled by appoiatneat by tttt Bond of Directors. The ofBca appointed to such vacancy shall save for the rrmain~3~r of the teen of the offices he replaces. Muitio,~ ~-~. Tbc offices of President sad So~ctetary maj- not be held by the . The dtities of the ofboas arc as foilaMS: a. . The lPre~sident shad preside at aU ~ of the Hord of Diract~oe~ shs11 sx tbst orders and resvhrfia~ of the Based of Dit~ectoet ors carried otat; aLsll dgit all ka'ea, enortg~ea, deeds and other wrtttpD e>sstneasoals; sad sbeell Ca•~oi=p ail peioadasoey aot9es sod Qootraeb as the Bo~td of Diriacloss may appegv~e $+oftl time to time. b. Yica Praiderrt. Tbo Vi~ee Pseasdeat shall act is the piaoe sad atad o>r the Praidattt is tha aveat of bis abaar~ i~bility or e+duarl ~ set. sad :ice atercias sad d'eaciaega snob aver dtttiea r easy be t+egairad of him by the Hostel c . Tht Sea+etary aisaU t+aootd rite vvta sad hoP tits reitlteMa of ail maetit~s sad psooeediags of ties Honed of Die~eetoes sad of the I-faasbeer. mai^tain the ani~tdla bnvi~ beep the oospotal+a seal of fie Aaantisliasr asd ad8s ii a a8 papsa aagriri^S avid seat; saw tsatice of aeoesi~gp of tie Hord otDireelaes sad of Iliac >tlaatbees~ bR ~ ise~e^t raeosds atio~wiag t#te iwkmb~aes of lit Asaoei~iosi to~edter rvitlt tweir ; aasi sYli periassa ~ ttpntc e~~ ~ tt~a such other duties as requirod by the Board. d. Treasurer. The Treasur+cr shall receive ar-d deposit in appropriate barilc accounts all monies of the Association and shall disburse such funds as directed by resolution of the Bond of Directors; shall co-sign any promissory rmtea and contracts of the Association; k~ proper books of account; cause an annual review of the Association books to be made by public accountant at she completion of each fiscal year; and shall prepare an annual budget grid a statement of income and sacpenditures to be presented w the Berard of I}irectors and to the membership at its rtigular annual meetirtss. ARTICI ~YIII. COMMITTEES The Association shall appoint such comntittoes as are provided in the DocLuYtion sad shall appoint other committcea as doomed apppmpriate in carrying out its purpose. Meetings of committee shall be open to Members. Members of the committees may not vote by proxy or socrct balParrcl. ARTICLE IX. FISCAL. Y~A~ The Fiscal Year of the Associstion shalt begin ost the first day of January and and on the thirty-first day of Deer of every year, except that the ~ Fiscal Yar shall begin on the daft of irxaporsbion. Ssxrtioa 1- B[ .The Association shall ptepue as annual brrdge~. 'I~e budget shall reflect tfie estimated revenues sad expaisa for that yqr sad the esfimated surplus or deficit ss of the axl of the cumecrt yar. The budget mast set our aep~dely all foes a charges for recreativrial amenities. The Asaociatioa shall provide each Meatber with a copy of the annual :. ., , .. budget or a.writren nolact that a copy of the btidgd is available to the h4ember upon roR~ wcith :.~,~ z - ,. , ~: ,., . rio charge. As more fully provided is the Declaration, each Manba is obligated to pay to t#te Association satin Asseennaab which sre toecvrad by a lien W~ ~ PenP~y which dre Assessment is Windt. Any Aataram~ wliicb are not paid whoa due shall be d~rart. The A~smart shall bear itsterat from the dttie of ddiagtxnty at an irrtaat rata equal w the high rate a1low+od by lax, a a: a6avrise detaasmad by the Hoard of Diracmrrt_ T 6e Asaoeisxion ma)- being ass aetio~a st Lw sgaia~a the 4wtar parsoa~tlty obii~~ed to pay the same ac 1'or+eclase the lien against the Parcel, and utar+oat, eoais sad t+eaaoaable attors~s fen of say Asaasmaot. No (~noer Wray ~raiv+e a otlwwise escape liability for the Amaaaomt: pnovidnd for betels by nonRSe of t>#e Coairaoa Propatty or abr~adottmat of his Pae+od. ~.~, Fi~mcad hosts. The Asaaoiatioo sMtl pr+epa~ra an aanred dial repot w~ ststy {ti4) days dlrr file close of the fatal y+e^r. Tbt fieaocid repent tail ooropiy witlt the applicabk pern-i~siens of Florida I.asv. 9 qR t10f~~ v21145 P~ t trt9 Prior to conveyance of any Parcel W as Owaa, such Owner shall provide W the Association written notice of the party to whom the Parcel is to be conveyed together with an address for such new Ov~-ncr for Association rxords. plt,~L•E XI[~~$~OC A_TION 1Z-~OROS in accordance with the roquiremcnt of Section 617.343(4), the Official Records of the Association s~lt,sll c~asist of: '0 1. Cscrt~ Records. a. A copy of any plans, permits, warranties, and other items related to improvements coflstructod os- the Common Property or other propa~ty which the Association is obligated to maintain, repair or replace. b. A copy of the Bylaws of the Association sad of each ~t to the Bylaws. c. A certified copy of the Articles of Ieoorporstioa of the Association. or other documeab nesting the Association, and ofach ama~ment tberem. d A ccgy of the IkcZaratian Qf Covemmts and of zach s t3:Qesc. e. A copy of the cu:reat rules of the Aasociatias. f. A book or books that contain the minttta of all meetings of the Association, of the Hood of Directors, and of Marebers, which mhsutes abaU be r+etaiaed for a period of not less than seven (7) years. $. A cwrau roster of all Mcmbaa sad their m~ailiag addr~saes, Pared identifications, and, iflayo~wn, tdepbo~ne nwabars. h. A11 aurent ins+sranee policirs of the Association. a a Dopy tfiec+eoE i. A ciar~eat copy of any mmagamant agReematt, kasc, a other contract to which the Association is a p^rty or nodar wiltieb the Association of the lrlatt6as hone an abiiPtioa or raQona~i4ty_ j. A copy of aU bids teodved by the Association for rNO~t to be parfooaed. rrhicb mud be nataioed for osr { 1) gear. 2. Aooov~ raooads for the Association sod separate ao~ooanting caords for aidt !~aaosi. so~oa~ b Bape~ly- socgMad aoooaaab^R paireipiea M aooo®ti~ rocotds sha31 be tagotia~ed fer a period oCoot lass 8r se+rr+o (7y rears. '>tie ~igsocid reoon3a ahaQ indMdq, bMt are not limited b: a_ A+ocreale; ilasaiosd. aid dt~taiisd woaeds of aH tsnipls and at+as. 10 a tilt lit ~ ~ liZ'J~ b. A cutr~es3t and a periodic statenac~nt of the account for catch Member of the Association, desigaatiag the trrena asad addttas of the Member, tha due date asad amount of each Asscasment, the amount paid upon the account, cad the balance due. c. All .tax returns, firrarrcial ststexaerus cad firraociat report: ofth Association d. Any other roaords thst identify, meaawt, record or c~a~urricate 8aaacial information. The foregoing official records ahaU be rnsiataiged within fire State rnd mtut ba opm to impodiop and available for P~ by Members or than auffiarirai agetrta at ttasanabk times attd placer w-itl,ia teo (10) buainw days aRa roceipt of a written raluat fvr steps. 'ILe Aaociation may adrapt rearoaabk ruin cad regulations governits;g the froquencr. time, location, notice cad nrsstaa of inspet~ioos and may impart face to cover the costs of providing copies of official records. .1. .Until Turnover, these By3s;w-s may be ameodod by the Class B Member widrout the caosart o< winder of any Chas A M~emba. 'Ibareaitar, areas Bylaws mry ba aaaea~skd st; a regular or spociai moetin~ o!F the Hoard of Ditecxoss by a m~ jority rae of the Diractaes. ~ to tlteae B~rlawrs need only 6~ ~lkd ~ 1l~ a ~. and ssexd snot be: rcoorded in the public raoards of are C.ouaty. ~~ S~IIlsd- to the case of arry conflict betw~oea the AsRickas of Iacoeparation and tfieasss By4ws, the Articles of Itroorporation shall pscrsul. br the caee of say cao8id betwbm llre Dectara~tion std these Bylaws, the- D~eclarstian shall prrrvail. t~ OR fa00K ~Mb DAAE ifoSi JOINDER, CONSENT AND SUBORDINATION OF MORTGAGEE BANKATLANTiC, a Federal Savings Bank ("Mortgagee"), being the Mortgagee under chat certain Mortgage Deed and Security Agreement dated March 31. 1999 executed by Lost Lake Reserve, L.C., a Florida lirnittd liability company, in favor of Mortgagee, recorded in Official Records Book 1702, Page 953, as modified by a Mortgage Modification, Spreader and i.oan Document Modification and Reaffirmation Agreement dated June 1, 1999 and recorded is Official Records Book 1722. Pogo 2328, was further modified by a Second Mortgage Modification, Spreader and Loan Document Modification and Reaffirmation Agreement dated July 13, 1999 and recorded in Official Records Book 1733. Page 1990, was further modified by a Third MortgOge Modification, Spreader, Partial Release of Mortgage and Loan Document Modification and Reaffirmation Agreement dated June 20, 2000 and recorded in Official Records Book 1833, Page 2219, and was further modified by a Fourth Mortgage Modification, Spreader and Loan Document Modification snd Reaffirmation Agreement dated August 23. 2000 end r~ecordoet in Official Records Book 1855. Page O1 Sb, as modified by certain Partial Release of Mortgage, recorded on December 3. 2001, in Official Rtrcords Book 2035, at Page 1928, all of the Public Records of Lake Cownty, F iorida (collectively,- the "Mortgage"); and does herrby join in, consent to the foregoing Declaration and does hereby subordinate the lien of the Mortgsgc to ap of the terrrrs and provisions of the Declaration and to the rights of the parties to the easements crtaled therrby. Witnesses: Signed, sesdod and delivered in the presence of Print I~latne: - ~„r~, J t ..... __ Print Namt:. ~n /rt Mort~rt~ee: BANKATLANT[C, a F«kral Savittg~ Baalc 13y: l~Iame: r~ , z . ~~~ Title: ~ /1~ t / ~ r (Ce ~) STAVE OF P'f1ARIDA COiJIVTY OlR BII.LS1i10ROUGA ne insi wss acJraosvlodg~ed before roe this day of Decaoba, 2001. ~- f'l 1 .as a~K~ of BAMCA . a Federal Stn-i~ Bank, on behalf of bank. ' Jaen Irlorte ii t~taa~~f !~'~ (~ ]every r; ~ e0leel~eel~eeal~K of Ptrbtic _ d 1Floride F1'if, lie or ~ OO~ee~OMtI t~f efAfO~y Peb~1C Aenorcegr 1•ooue ~ Qr)R wodroad >siA~icapioN_ 'I~pe of idac~catiar ftiodeoed (NOTARLAL SF~L.) a. [,roliDUleretiwrr JOtt~FJt A!O t~oFRS@IT OF MoR71~A~Fr4c