SCHEDULE "1"

"1 "

THE WAVE, A CONDOMINIUM

DECLARATION
DECLARATION OF
OF CONDOMINIUM
CONDOMINIUM.ESTABLISHING
ESTABLISHING
THE WAVE CONDOMINIUM
 CONDOMINIUM PLAT FOR THIS CONDOMINIUM

r:u7: ::r;t~k~::S~D TO BE' RETURNED Tp:

PREPARED BY AND TO B RETURNED Tp:
Louis Zaretsky, Esq.
HAVE BEEN RECORDED IN CONDOMINIUM
BOOK {36 PAGES len)
CONDOMINIUM PLAT
PLAT
THROUGH Ii} '9',
/t7z) THROUGH
Ritter,
Ritter, Ritter & Zaretsky,
Zaretsky, LLP
LLP OF THE PUBLIC
PUBLIC RECORDS
RECORDS OF PINELLAS .
15th
th COUNTY,
COUNTY, FLORIDA.
555 NE 15 100
Street, Suite 100
Miami, Florida 33132

KEN BURKE, CLERK OF OF COURT

COURT
PINELLAS COUNTY FLORIDA
DECLARATION OF CONDOMINIUM INST# 2005206081
2005206081 0512712005 at 10:25
05)27/2005 at 10:25 AM
AM
OFF REC
OFF RECBK:
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14342 PG:
PC: 2366-2436
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FOR
DocType:CONDQ
DOCTYPIECONDORECORDING: $605.00
RECORDING: $605.00
THE WAVE, A CONDOMINIUM
CONDOMINIUM

Section 1: Introduction and

Section and Submission 1
1

Section 2:
Section 2: Definitions 1
1

Section 3:
Section 3: Description of Condominium 4
Section 4:
Section 4: Restraint upon Separation and Partition of Common
Common Elements
Elements 9
Section 5:
Section 5: Ownership ofof Common
Common Elements
Elements and
and Common
Common Surplus
Surplus and
and
Share of Common Expenses; Voting
Voting Rights
Rights 9
Section 6:
Section 6: Amendments ~ 10
Section 7:
7: Maintenance and Repairs : 11
11
Section 8:
8: Additions,
Additions, Alterations or Improvements by the Association 13
Section 9:
9: Additions,
Additions, Alterations or Improvements by Unit Owner 14
Section 10: Additions,
Section Additions, Alterations or Improvements by Developer 14
Section 11: Operation of the Condominium by the Association;
Section Association; Powers and
and Duties
Duties 15
,12: Management
Section .12: Management Agreement...
Agreement 18
Section
Section 13:
13: Common Expenses and and Common Surplus andand Assessments
Assessments 18
18
Section 14: Collection of Assessments 18
Section 15: Insurance 20
Section 16: Reconstruction or Repair After Fire or Other Casualty 23
Section 17: Condemnation ; 25
Section 18: Occupancy and Use Restrictions : 26
Section 19:
19: Selling,
Selling, Leasing
Leasing and Mortgaging of Units ; 29
Section 20:
20: Compliance and Default 30
Section 21:
Section 21: Termination of Condominium 31
Section 22:
Section 22: Additional Rights of Mortgagees and others
Others 31
23: Disclaimer
Section 23: Disclaimer of
of Warranties 33
Section 24:
24: Binding and Arbitration 33
Section 25:
25: Transfer of Association Control ; 34
26: Additional
Section 26: Additional Provisions 34 .

ii1
 Florida Limited
SKYRE LLC, a Florida Limited Liability
Liability Company,
Company, hereby
hereby declares
declares as
as follows:
follows:

Section 1: Introduction and Submission

1.1 The Land. TheTheDeveloper

Developerowns
owns the
the fee
feetitle
titletotocertain
certainland
landtogether
togetherwith
with improvements
improvements
thereon located
thereon located in
in Pinellas
Pinellas County,
County, Florida, as more particularly
Florida, as particularly described
described inin Exhibit. "A" hereto
Exhibit. "A" hereto (the
¶nd")
"Land"). .

1.2 Submission
Submission Statement.
Statement. The The Developer
Developer hereby
hereby submits
SUbmits the the Land
Land together
together with,
with, all
improvements from
improvements from time to time erected or to be installed
installed thereon to the condominium
condominium form of of ownership
ownership
and
and use inin the
the manner
manner provided
provided for
for in
in the
the Florida
Florida Condominium
Condominium Act as as itit exists
exists on
onthe
thedate
datehereof,
hereof,
subject to the reservations, easements and restrictions of record.
record.

1.3 Property
Propertv Subiect
Subject to Certain Restrictions and Easements. The TheCondominium
CondominiumProperty
Property (as
(as
defined hereinafter) is subject
SUbject to the
the covenants,
covenants, conditions, restrictions,
restrictions, easements
easements and
and reserved
reserved rights
rights of
of
the Developer contained in this Declaration.

1.4 Name.
Name. TheThe name
name by
bywhich
which this
this condominium
condominium is
is to
to be
be identified
identified is,
is, THE
THE WAVE,
WAVE, A
A
CONDOMINIUM (the "Condominium"). . ,

Section 2:
Section 2: Definitions
Definitions

For
For purposes
purposes of this Declaration and
and the
the exhibits
exhibits attached
attached hereto,
hereto, the
the following
following terms
terms shall
shall have
have
the respective
respective meanings
meanings ascribed
ascribed to them in
in this
this Section,
Section, except
except where the
the context
context clearly
clearly indicates
,indicates a
different meaning or a specific limited
limited meaning
meaning is detailed
detailed:

2.1 "Act" or "Condominium'

"Condominium Act" or "Florida
Act" or "Florida Condominium
Condominium Act"Act" means
means the
the Florida
Act (Chapter
Condominium Act 718, Florida Statutes) as it exists
(Chapter 71,8, on the
exists'on the date
date hereof.
hereof.

2.2 "Articles" or "Articles

"Articles" or "Articles of
of Incorporation"
Incorporation" means
means .the
the Articles
Articles of Incorporation
Incorporation of the
the
Association, as
Association, as ,may
may be be amended from time
amended from time to time. A certified
to time. certified copy
copy of the
the original
original Articles
Articles of
of
attached hereto
Incorporation are attached hereto as
as Exhibit
Exhibit"C".
"C".

2.3 "Assessment," as
"Assessment," as further
further described
described and
and defined
defined in
in Sections
Sections [13]
[13] and
and [14]
(14] hereof,
hereof, means
a share of the funds
funds required
required for
for the
the payment
payment of of Common
Common Expenses
Expenses asas provided
provided in
in this
this Declaration
Declaration and
which from time to time is
is assessed
assessed against
against the
the Unit
UnitOwner.
Owner.

2.4 "Association" or "Condominium

"Association" or "Condominium Association"
Association" means
means THE
THE WAVE
WAVE CONDOMINIUM
CONDOMINIUM
ASSOCIATION
ASSOCIATION OF OF ST.
ST. PETERSBURG,
PETERSBURG, INC.,
INC., aa Florida
Floridacorporation
corporation not-for-profit,
not-for-profit, the
the sole
sole entity
responsible for
responsible for the
the operation of the Condominium.
operation of Condominium. Where
Where utilized
utilized herein
herein or
or in
in the
the exhibits
exhibits attached
attached
hereto, the term "Corporation" shall be
be deemed
deemed to
to be
be synonymous
synonymous with
with the
the term
term "Association."
"Association."

2.5 "Association Property" means the property,

"Association property, real and personal, in which title or
or ownership
ownership
is vested
vested in,
in, or which is dedicated on a recorded
recorded plat or leased to,
to, the Association
Association for the use and
and benefit
benefit
of its members.
of

2.6 "Buildings"
"Buildings" means the structUres within which
structures within wh'ich the
the Units
Units and
and certain,
certain Common
Common Elements
Elements
are located on the Condominium Property. ' '

2.7 or "Board" means the Board

"Board of Directors" or Board of
of Directors
Directors of
of the
the Association.
Association.
1
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 2.8
2.8 "By-Laws" mean the By-Laws
"By-Laws" By-Laws of
of the Association,
Association, as may
may be
be amended
amended from
from time
time to
to time.
time.
A copy of the original
originai By-Laws
By-Laws are
are attached
attached hereto
hereto as
as Exhibit
Exhibit "D"
'D"

2.9
2.9 "Common mean and
Common Elements" mean and include:
include:

(a) The portions

portions of
of the
the Condominium
Condominium Property
Property which
which are
are not
notincluded,
included within
within the
the
Units;

(b) Easements over, Units for

over, under, across, and through Units for conduits,
conduits, ducts,
ducts, plumbing,
plumbing,
wiring
wiring and
and other facilities
facilities for the
the furnishing
furnishing of utility
utility and
and other
other services
services to
to the
the Units
Units and
and the
the Common
Common
Elements; .

(c) An
An easement
easement of support
support in every
every portion
portion of
of aa Unit
Unitwhich
which contributes
contributes to
to the
the
support of any other Unit or the Buildings;

(d) The property

The property and
and installations required for
installations required for the
the furnishing
furnishing of
of utilities
utilities and
and other
other
services to more than one Unit or to the Common Elements; .

(e) Any hallways,

Any alarm systems,
hallways, foyers, doors, elevators, stairwells, alarm systems, access
access
not contained
systems, or security systems not contained within
within aa specific
specific Unit;
Unit;· .

(f) All
All pipes,
pipes, lines,
lines, wiring,
wiring, facilities
facilities and
and conduits
conduits located
located within
within the
the walls
walls which
which
bound and
bound and are
are contained
contained within
within a Unit and
and which
which prOVide
provide services
services to
to more than one Uni~
than one Unit; and
and

(g) parts of
Any other parts of the
the Condominium
Condominium Property
Property designated
designated as Commob
Common Elements
Elements
pursuant to this Declaration or
or the
the Act.
Act.

2.10 'Common
"Common E*penses"
Expenses" mean
mean allall expenses
expenses incurred
incurred by the the Association
Association to accomplish
accomplish its its
duties as
duties as contemplated
contemplated by by this
this Declaration
Declaration and
and the
the Act which
which shall
shall be
be assessed
assessed oror imposed
imposed against
against Units
Units
in the
the Condominium
Condominium by by the
the Association
Association as as authorized
authorized by by the
the Act. approved by
Act. If approved by the Board of Directors,
the Board Directors,
"Common Expenses" shall
"Common Expenses" shall include
include the
the cost
cost of mangrove
mangrove trimming
trimming and the cost cost of
of aamaster
mastertelevision
television
antenna system dUly franchised cable
system or duly cable television
television service
service obtained
obtained pursuant
pursuant to aa bulk
bulk contract
contract or
or other
other
provider of
provider of television
television signals
signals on
on a bulk basis.
basis. For
For all
all purposes
purposes ofof this
this Declaration,
Declaration, "Common
"Common Expenses"
Expenses"
shall
shall also include all reserves reqUired by the Act or
reserves required or otherwise established by the Association,
Association, regardless
of when reserve funds are expended.

2.11 "Common Surplus"

"Common Surplus" means
means the
the excess
excess of of all
all receipts
receipts of the
the Association
Association collected
collected on
behalf of the
behalf the Association,
Association, including,
inclUding, but not
not limited
limited to,
to, Assessments,
Assessments, rents,
rents, profits
profits and
and revenues
revenues on
on
account of the Common Elements, over and above the amount of Common Expenses.

2.12 "Condominium Parcel" means

"Condominium Parcel" means aa Unit together with the undivided
together with share in
undivided share in the Common
Common
Elements and
and the
the Common
Common SurplUS
Surplus which
which is
is appurtenant
appurtenant to
to said
saidUnit.
Unit

2.13 "Condominium Plat"

"Condominium Plat" means
means the
the condominium drawings required
condominium draWings required by
by Section
Section 718.104
718.104 of
the Act and
the and recorded
recorded in Official
Official Records
Records Book
Book andand Page
Page identified on the
identified on the first
first (1st)
(1 st) page
page hereof
hereof
constituting Exhibit
constituting ExhibitNO.1
No. I hereto.
hereto. For
Forpurpose
purpose of
ofreference,
reference, aa reduced-in-size
reduced-in-size copy of the Condominium
Condominium
Plat is attached hereto. .

2.14 "Condominium Property" means

"Condominium Property" means the
the Land and the
the improvements
improvements constructed thereon
thereon
which have been submitted
which have submitted to condominium
condominium ownership under this Declaration;
Declaration; subject to the limitations
limitations
thereof and
and exclusions therefrom.

2.15 "County" means Pinellas County, State of Florida.

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 2.16 "Declaration" or
"Declaration" or "Declaration
Declaration of Condominium" means this
Condominium" means this instrument,
instrument,as
as itit may
may be
be
to time.
amended from time to time.

2.17 "Developer" means SKYRE,

"Developer" SKYRE, LLC, a Florida Limited Liability Company, and its successors
and such of its assigns as to which its its rights
rights hereunder
hereunder are assigned
assigned by written instrument recorded
recorded inin the
the
public records of the County. Such assignment
records of the County. Such assignment may be may be made on an exclusive
exciusive or non-exclusive
non-exclusive basis
basis and
and
may be an assignment of all all or
or only
only portions
portions of
of its
its rights
rights of
of Developer
Developer hereunder;
hereunder; provided,
provided, however,
however, that
that
no such
no such assignment
assignment shall
shall make
make any any assignee
assignee the the "Developer", for purposes
"Developer" for purposes hereof
hereof unless
unless such
such
assignment is
assignment is an
an assignment
assignment of all of of Developer's
Developer's rightsrights hereunder and is
hereunder .and is exclusive,
exclusive, except as toto any
any
previously assigned rights.
previously assigned rights. Any
Any other
other than
than the
the above
above cannot
cannot retain
retain control
control of
ofthe
the Association
Association after.
after a
majority
majority of the units
units have
have been
been sold
sold unless
unless ititreceives
receives an an assignment
assignment of ofthe
thecreating
creating developer's
developer's rights
rights
and obligations.

2.18 "Institutional First Mortgagee"

"Institutional Mortgagee" means
means a bank,
bank, savings
savings and
and loan
loan assoóiation,
association, insurance
insurance
company,
company, credit union,
union, real estate
estate oror mortgage
mortgage investment trust, pension
investment trust, fund, an
pension fund, agency of the United
an agency United
States Government,
Government, mortgage banker, th the Federal National Mortgage
Federal National Mortgage Association
Association ("FNMA"),
("FNMA") the Federal
Federal
Home Loan Mortgage Corporation ("FHLMC") ("FHLMC") or or any other lender generally
generally recognized
recognized as as an
an institutional
institutional
lender, or the
lender, or the Developer, holdingaa first
Developer, holding first mortgage
mortgage onon aa Unit
Unit or Units,
Units, oror any
any Mortgage
Mortgage on on the
the
condominium property at
condominium property at the
the time
time the
theCondominium
Condominium is is formed.
formed. AA "Maiority
"Majority ofof Institutional
Institutional First
First
Mortgagees" shall mean and refer to Institutional First Mortgagee(s)
Mortgaqees" Mortgagee(s) of Units with
with regard
regard toto at
at least
least 51
51%% of
of
the
the voting
voting interests
interests which
which areare appurtenant
appurtenant to Units
Units subject
subject toto mortgages
mortgages held
held byby Institutional
Institutional First
First
Mortgagees.
Mortgagees.

2. 19 "Limited
"Limited Common Elements" mean
Common Elements" mean those
those Common
Common Elements,
Elements,the
the use
use of which
which isis
reserved
reserved toto aa certain Unit or Units
certain Unit Units to
to the
the exclusion
exclusion of other
other Units,
Units, as same
same are
are shown
shown on
on the
the
Condominium Plat
Condominium Plat or
or are specified
specified in
in this
this Declaration.
Declaration. References
References herein Common Elements
herein to Common Elements also
also
shall include
shall include all
all Limited
Limited Common Elements unless unless the
the context
context would
would prohibit
prohibit or it is otherwise
otherwise expressly
expressly
provided. .

2.20 "Management
"ManagementAgreement"
Agreement"means
meansand andrefers
refers toto any agreement entered
any agreement entered into by the
into by the
Associationfrom
Association from time
time to
to time
time for
for the
theoperation
operation and
and administration
administration ofof the
the Condominium
Condominium and
and the
the
management of the Condominium Property.

2.21 "Management Firm" means

"Management Firm" means and.andrefers
refersto,toany
any person
person oror entity
entity contracted
contracted by the
the
Association to
Association to perform
perform management
managementfunctions
functionsfor
forand
andon
onbehalf
behalfof
of the
the Association.
Association, Any
Any management
management
firm must be a professional
firm professional community
community association
association manager dUlyduly licensed
licensed under Florida
Florida law to provide
provide
management services to condominium
condominium projects.
projects.

2.22 "Occupant" means and

"Occupant" means and refers
refers toto aa person
person (be
(be itit an
an Owner
Owner or or a tenant
tenant or
or lessee
lessee of an
Owner)
Owner) who
who resides
resides in
in aa Unit. Where the
Unit. Where the context
context dictates,
dictates, an
an Occupant
Occupant shall also also be
be deemed toto include
include
occasional social
the family members, occasiánal social guests,
guests,tenants, invitees.
'tenants, licensees and invitees.

2.23 "Primary Institutional

"Primary Institutional First
First Mortgagee" means the
Mortgagee" means the Institutional
Institutional First
First Mortgagee
Mortgagee which
which
owns, at the relevant time, Unit
owns, Unit mortgages
mortgages securing
securing a greater aggregate indebtedness
greater aggregate indebtedness than
than is
is owed
owed to
to
any other Institutional First Mortgagee.

2.24 "Unit".or
"Unit". or "Condominium
"CondominiumUnit" Unit"means
meansand andrefers
refersto
to that
that portion
portion of the
the Condominium
Condominium
Property which
Property which isis subject
subject toto exclusive
exclusive ownership
ownership and
and isis located
locatedwithin
withinthe
theCondominium
CondominiumProperty.
Property. The
The
term "Unit" is often used synonymously hereinherein with
with "Condominium
"Condominium Parcel'
Parcel" When
,when meaning
meaning the sum total
total of
of
ali Owner's ownership interest
afl interest in
in the
the Condominium.
Condominium. . , . .

2.25 "Unit Owner" or "Owner of aa Unit"

Unif' or
or "Owner"
"Owner" means the record
record owner
owner of legal
legal title
title to
to aa
Condominium Parcel.
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 (

Section 3:
Section 3: Description
Description of Condominium

3.1 Identification of Units.

Identification Units. The
The Condominium
Condominium shallshaH contain
contain 128
128 Residential Units.
Units. Each
Each such
such
is identified
Unit is identified by by a separate
separate numerical designation as shown shown onon the Condominium
Condominium Plat, Plat,which
which exists
exists asas
Exhibit
Exhibit No.No. AA hereto,
hereto, andand which
which consists
consists of of aa survey
survey of of the
the Land,
land, aagraphic
graphic description
description of of the
the
improvements
improvements locatedlocated thereon
thereon (including
(including the Units and the Buildings in in which the Units are located),
located), and
and
a plot plan
plan thereof.
thereof. AAreduced-in-size
reduced-in-size copycopy ofofthe
theCondominium
Condominium Plat Plat as
as recorded
recorded inin the
the Official
Official Records
Records
Book and
Book and Page identified on
Page identified on the
the first (1st)
(1 st) page
page hereof,
hereof, together with a copy
together with copy of the
the legal
legal description
description
contained on
contained on the
the Condominium
Condominium Plat, Plat, is attached
attached to this Declaration for convenience.
convenience. The The Condominium
Condominium
Plat, together
Plat, together withwith this
this Declaration,
Declaration, isis sufficient in detail
sufficient in detail to
to identify
identify the Common Elements and
Common Elements and each
each Unit
Unit
and their relative locations and dimensions. There shall shall pass
pass with aa Unit
Unit as
as appurtenances
appurtenances thereto: (a) (a) an
an
undivided
undivided shareshare in in the Common
Common Elements
Elements and and Common
Common Surplus;
Surplus; (b) the exclusive
(b) the right to use
exclusive right use such
such
portion of
portion of the
the Common
Common Elements
Elements as as may
may be thethe Limited
limited Common
Common Elements
Elements for for such
such Unit;
Unit; (c) an an
exclusive easement for the use of the air space occupied by the Unit as it exists at any particUlar particular time and
as the Unit may lawfully be altered altered oror reconstructed
reconstructed from
frof)1 time to time,
time, provided
provided that an easement in air
space which is vacated shall shall be
be terminated
terminated automatically;
automatically; (d)
(d) membership
membership in in the
the Association
Association withwith the
the full
full
voting
voting rights appurtenant thereto;thereto; and (e) other appurtenances as may be provided by this Declaration or
the Act.

Time-share estates orr interests

Time-share estates will not be
interests will be created with respect
created with to any
respect to any of
of the
the Units
Units in
in the
the
Condominium.

3.2 Unit Boundaries.

Unit Boundaries. Each
Each Unit
Unit shall
shall include that part
include that part of the
the Buildings containingthe
BUildings containing the Unit
that lies within
Within the following boundaries:
boundaries:

(a) Units.
Units

(i) Upper and

and Lower
lower Boundaries
Boundaries ofof Unit.
Unit. The
The upper
upper and
and lower
lower boundaries
boundaries
of
of each
each Unit
Unit shall be the
the following
following boundaries
boundaries extended
extended to their
their planar
planar intersections with the perimetrical
intersections with perlmetrical
boundaries:

(1) Upper Boundaries

Boundaries of
of Unit. Thehorizontal
Unit The horizontal plane
plane of
of the unfinished
unfinished
lower surface of the ceiling.

(2) Lower
lower Boundaries of Unit.
Boundaries of Unit. The
The horizontal
horizontal plane of the unfinished
upper surface of the floor of
of the
the Unit.
Unit.

(3) Interior Divisions

Divisions of Unit. Except as
Unit. Except as provided
provided in
in subsections (1)
and (2) above,
above, no
no part of the floor of the top floor,
floor, ceiling
ceiling of the
the bottom
bottom floor,
floor, or
or nonstructural
nonstructural interior
interior walls
walls
shall be considered
considered aa boundary
boundary of
of the
the Unit.
Unit

(ii)
(U) Perimetrical Boundaries.
Perlmetrical Boundaries. The perimetrical boundariesof
perimetrical boundaries of the
the Unit shall
shall
be the
be the vertical
vertical planes
planes of the unfinished exterior surfaces
surfaces of the outer walls
walls bounding the Unit and to
bounding the to the
the
middle of any
.middle any walls between
between units
units extended
extended to their
their planar
planar intersections with each
intersections with each other
other and
and with the
the
all area
upper and lower boundaries, as well as all area of
of the
the balconies
balconies connected to the Unit;
Unit.

(Iii)
(iii) Apertures.
Apertures. Where
Where there
there are
are apertures many
apertures in any boundary,
boundary, including,
including, but
not limited
limited to,
to, windows,
windows, bay windows,
windows, doors, skylights,
skylights, balconies and porches, such boundaries shall be
porches, such be
extended to
extended to include the windows,
include the Windows, baybay windows,
windows, doors, skylights and
doors, .skylights and pther
pther fixtures
fixtures located
located in such
such
apertures, Including
apertures, including all
aU frameworks
frameworks thereof;
thereof; provided,
provided, however,
however, that
that exterior
exterior surfaces
surfaces made
made ofof glass
glass or
or
other transparent material and
transparent material and the
the exteriors
exteriors of doors shall not
doors shall not be
be included
included inin the
the boundaries
boundaries ofof the Unit
Unit
and shall therefore bebe Common
Common Elements.
Elements.

4
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 In the event that
that the
the actual
actual physical
physical location
location of
of any
any Unit
Unit constructed
constructed within the
the Buildings
Buildings at any
any
time does notnot precisely
precisely coincide
coincide with
with the
the area depicted
depicted onon the
the Condominium
Condominium Flat,
Plat, the
the actual
actual physical
physicai
location of
location of the
the Unit
Unit shall
shail control
control over
overlocations,
iocations, dimensions
dimensions andand descriptions reflected on
descriptions refleoted on the
the
Condominium Plat.Plat.

Notwithstanding the fact that

that no
no Unit
Unit may
may bebe divided
divided or
or partitioned
partitioned for
for purposes
purposes of
of sale
sale or
or lease,
lease, aa
Unit may
Unit may be
be combined
combined with
with either the Unit
Unit directly above the subject
sUbject Unit and/or the Unit directly below
the subject U.nit
the and/or the
Unit and/or the laterally-adjacent Unit in
laterally-adjacent Unit in order
order to
to permit
permit occupancy
occupancy of such areas
areas asas one
one
residential living space. .

3.3 Limited Common Elements.

(a) Limited
Limited Common
Common Elements
Elements Appurtenant
ApPurtenant to All Units.
Units. To the
the extent
extent applicable
applicable
and
and subject
subject to the
the provisions
provisions of
of this
this Declaration,
Declaration, each
each Unit
Unit may
may have
have as
asLimited
Limited Common
Common Elements
Elements
appurtenant
appurtenant thereto such portions of of the
the Common
Common Elements
Elements as
as are
are defined
defined herein
herein and/or
and/or shown
shown onon the
the
Condominium Piat, portion(s} of the Common Elements,
Plat, including, but not limited to: (a) any portion(s) Elements, including,
including, but
not limited
limited to,
to, conduits, ducts,
ducts, plumbing,
plumbing, wiring and otherother facilities,
facilities, for the
the furnishing
furnishing ofof utility
utility and
and other
other
Limited Common Element appurtenant to that Unit if it only supplies
services to a particular Unit shall be a Limited supplies
that Unit,
Unit, to the
the exclusion
exclusion of ofall
all other
otherUnits;
Units; (b)
(b)the
the mailbox
mailbox assigned
assigned to to aaparticular
particular Unit
Unit which
which shall
shall be
be
located
located within the Condominium Property; Property; and
and (c)
(c) the
the submeters
submeters forfor water
water and
and associated
associated sewer
sewer charges
charges
they serve.
to the individual Units that they serve. The
Theuse
useandandenjoyment
enjoymentof ofthe.
the Limited
Limited Common Elements shall shall be
be
in accordance
in accordance withwith. the
the terms
terms andand provisions
provisions of this Declaration, the Articles
Declaration, the Articles of Incorporation,
Incorporation, the the By-
By-
Laws, any
Laws, any rules
rules and
and regulations
regulations duly
duly promulgated
promulgated by by the Association,
Association, and and local,
local, state,
state, andand federal
federal
statutes and ordinances.

(b) Responsibilities
Responsibilities of Unit Owners. Except
Unit Owners. Except as as may
may be otherwise
otherwise provided
proVided in thisthis
Section 3.3,
Section 3.3, all replacements and reconstructions
all maintenance, repairs, replacements reconstructions of, of, in or to any
any Limited
Limited Common
Common
Elements, whether
Elements, whether structural
structural or nonstructural,
nonstructural, ordinary
ordinary or or extraordinary
extraordinary (including,
(including, without limitation,
limitation,
maintenance, repair,
maintenance, repair, replacement and reconstruction
reconstruction of any exterior wall wail or railing
railing of
of balcony
balcony patiO) shall
patio) shall
be performed
be performed by by the Owner
Owner of of such
such Unit
Unit atatsuch
suchUnit UnitOwner's
Owner'ssolesolecost
costand andexpense,
expense,. except
except as as
otherwise
otherwise expressly
expressly provided
provided to the the contrary
contrary herein.
herein. EachEach UnitUnit Owner also shall
Owner also shail be responsible
responsible for
replacing the necessary light bulbs for the foregoing light flxture(s)
replacing the fixture(s) with the same color and and bulb wattage.
wattage.
Each Unit
Each Unit Owner shall be be responsible
responsible forfor the
the air-conditioning
air-conditioning compressor contained within
compressor contained within the
the limited
limited
Common Elements
Common Elements serving
serving andand proViding service to
providing service to such
such Uhit
Uhit Owner's
Owner's unit. Each Unit
unit. Each Unit Owner
Owner shall
shall be
be
solely
solely responsible
responsible for maintaining
maintaining all pbrtions
portions of of the
the security
security system
system serving
serving the
the Unit,
Unit, including,
including, without
without
limitation, all
limitation, all electrical
electrical lines
lines and
and other
other facilities.
facilities. Each
Each UnitUnit Owner shall
shail also bebe solely
solely responsible
responsible forfor any
any
costs associated with false alarmsalarms and all annual
and all annual licensing
licensing oror registration
registration of
of alarms.
alarms. TheThe Association
Association shall
shall
be responsible for 'the repair, replacements and reconstruction,
the maintenance, repair, reconstruction, of parking
parking spaces.

(c) Insurance, Each

Insurance. Each Unit
Unit Owner
Owner shallshall be
be solely
solely responsible
responsible for insuring
insuring any and
and all
all
equipment, machinery, fixtures,
equipment, machinery, fixtures, furniture
furniture or
or the
.the like
like installed
installed and/or
and/or placed
placed upon
upon or
or within
within the Limited
Limited
Common Elements appurtenant to such Owner'sOwner's Unit,
Unit, as well as as any
any other
other improvements
improvements located within
within
such
such Limited
Limited Common
Common Elements,
Elements, andand the
the Association shall not
Association shall not have
have anyany duty
duty or obligation
obligation to
to do
do so.
so.
Notwithstanding anything
Notwithstanding anything contained
contained in
in the
the foregoing
foregoing toto the contrary, the
the contrary, the Association
Association shall
shall have
have the sole
obligation of maintaining
obligation maintaining adequate
adequate insurance
insurance .to protect the
to protect the association, the association
association, the association property,
property, the
common elements, and the condominium property required to be insured by the Association. Association.

3.4 Easements. Thefollowing

Easements. The following easements
easements are
are hereby
hereby created (in addition
created (in addition to
to any
any easements
easements
created under the Act and any other provisiobs
created provisiohs of this Declaration):

1'1 (a) Each Unit

Support. Each Unit shall
shall have
have an
an easement
easement of support
support and
and of necessity
necessity and
and
ic~j shall be
shall be subject to an easement
subject to easement of support
support and necessity in favor
necessity in of all other
favorof other Units
Units and the Common
Common
Elements.
5
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 ( (

(b) Utility
Utility and
and Other
Other Services;
Services; Drainage. Non-exclusive easements
Drainage. Non-exclusive easements are hereby
hereby
reserved unto the
reserved unto the Developer.and
Developer.andalso also granted
granted to the respective utilityproviders
respective utility providers under,
under, through
through and
and over
over
the Condominium
the Propertyasas may
Condominium Property may be be required
required fromfrom time
time toto time
time forfor the
the construction,
construction, use
use and and
maintenance of all
maintenance utilities (whether
all utilities (whether public
pUblic or
or private),
private), cable
cable television,
television, communications
communications and and security
s.ecurity
systems, and
systems, and other
other services
services which which may
may serve
serve thetheCondominium;
Condominium; provided,provided, however,
however, that
that these
these
easements shall
easements shall not
not permanently
permanently interfere
interfere with
with the
the use
use ofof the
the Units.
Units. A non-exclusive easement is
non-exclusive easement is aiso
also
reserved unto
reserved unto thethe Developer
Deveioper and and granted
granted to allall applicable
applicable governmental
governmentai entities
entities over and
and across
across thethe
Common Elements for
Common Elements for the
the purpose
purpose of providing
providing drainage
drainage and and for the the installation,
installation, operation,
operation, use and
maintenance of
maintenance of drainage
drainage facilities;
facilities; provided,
provided, however,
however, thatthat the Association
Association shall be be responsible
responsible for
for the
the
continuous maintenance
continuous maintenance of of the
the easements
easements and and rights-of-way
rights-of-way of of the
the drainage
drainage system
system located
located on
on any
any andand
all portions of the Condominium Property. Property.

(c) Encroachments.
Encroachments, If; If: (a) any portion
portion of of 'the
the Common
Common Elements
Elements encroaches
encroaches upon
any Unit;
Unit; (b) any Unit
Unit encroaches
encroaches upon any other Unit Unit or upon
upon any any portion
portion of
of the
the Common
Common Elements;
Elements; or
(c) any encroachment shall hereafter occur as as aa result
result of
of (i)
(i) 'construction
construction of the improvements;
improvements; (U) settling
(ii) settling
any alteration
(iii) any
or shifting of the improvements; (iii) alteration oror repair
repair toto the
the Common
Common Elements
Elements made
made by by or
orwith
with the
the
consent off the
the Association
Association or the the Developer,
Developer, as appropriate,
appropriate, or or (iv)
(iv) any
any repair
repair or
or restoration
restoration of the the
improvements
improvements (or any any portion
portion thereof)
thereof) oror any
an, Unit
Unit after
after damage by fire or other other casualty or any taking by
condemnation or eminent domain
condemnation domain proceedings
proceedings of all or any portion of any Unit or the Common Elements; Elements;
then, in any such
such event,
event, aa valid
valid easement
easement shall
shall exist
exist for
for such
such encroachment
encroachment and and for
for the
the maintenance
maintenance of of
the same so long as the improvements shall stand.

(d) lnqress and

Ingress and Egress.
Eqress. AA non-exclusive
non-exclusive easement
easement in in favor of each Unit Owner and
resident,
resident, their guests and invitees,
invitees, shall
shall exist
exist for
for pedestrian
pedestrian traffic
traffic over,
over, through
through andand across
across sidewalks,
sidewaiks,
streets, paths, walks,
streets, paths, walks, and
and other portions
portions of the
the Common Elements as
Common Elements as from
from time
time to
to tfme
time may
may be intended
intended
and designated
and designated forfor such
such purpose
purpose andand use
use and
and forfor vehicular
vehicular and
and pedestrian
pedestrian traffic over,
over, through
through and
and
across such
across such portions
portions of the Common
Common Elements as from time to time may be paved and intended for such
purposes. None
purposes. None of the easements specified in this subsection
subsection shall be be encumbered
encumbered by by any
any leasehold
leasehold or
or
lien
lien other
other than those on the Condominium
than those Condominium Parcels.
Parcels. AnyAny such
such lien encumbering
encumbering such such easements
easements (other
(other
than those on Condominium Parcels) automatically shall be subordinatesubordinate to the the rights
rights ofof Unit
Unit Owners
Owners and
and
the Association
Association with
with respect to such easements.

(e) Construction: Maintenance.

Construction; Maintenance. Until
Until the
the Developer
Developer no no longer
longer holds
holds units for salesale or
or
when
when the unit
unit owners
owners have
have assumed
assumed control
control of
ofthe
the association,
association, whichever
whichever occurs
occurs first,
first, the
the Developer
Developer
(including its designees,
(inclUding designees, contractors,
contractors, successors
successors andand assigns)
assigns) shall
shall have the right, in its its (and
(and their)
their) sole
sale
discretion from time
discretion from time to time,
time, to enter
enter the
the Condominium
Condominium Property
Property 'and take all
and take all other
other action
action necessary
necessary or or
ôonvenientfor
convenient for the
the purpose
purpose of of completing
completing thethe construction thereof, or
construction thereof, or any
any part
part thereof,
thereof, oror any
any
improvements or
improvements Units located
or Units located or to be
be located
located thereon,
thereon, and and for
forrepair,
repair, replacement
replacement and and maintenance
maintenance
purposes
purposes or where the Developer, in its sole sale discretion, determines that it is required or desires to do so.

(f) Sales
Sales and
and Manaeement
Management Activities. Until, such
Activities. Until such time
time as
as the
the Developer
Developer has has
conveyed all
conveyed all Units to third parties,
parties, the Developer,
Deveioper, its its designees,
designees, successors and assigns,
assigns, shall have'the
have the
to use any such
right to such Units and
and parts of the Common Elements for Unit models; sales, management and
models; sales, and
construction offices;
construction offices; to
to show
show model
model Units
Units and
and the Common Elements to
Common Elements to prospective
prospective purchasers
purchasers and,
and, ifif
applicable, tenants of Units; and to erect
applicable, tenants erect on
on the
the Condominium
Condominium Property
Property signs,
signs, banners,
banners, flags
flags and
and other
other
promotional material to advertise Units for
promotional for sale
sale or
or lease.
lease. ' '

(g) Facilities Easements are

Services. Easements
Facilities and Services. are reserved
reserved over, over, under,
under, across
across and
and
through Units for conduits, ducts,, plumbing, Wiring
ducts,. plumbing, wiring and
and other
other facilities
facilities for
for the
the furnishing
furnishing of
of utility
utility and
and other
services to
to the Units and
and the Common Elements.
Eiements. - ' <.

(h) Plat.
Condominium Plat. All easements
easements described
described or shown
shown on
on the,
the Condominium
Condominium
Plat.
, 6
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 (i) Developer
Developer Activities.
Activities. Until
Until such
subh time as the .the Developer
Developer completes
completes and of
and sells all of
Units in
the Units in the
the Condominium,
Condominium, the the Developer
Developer"reserves
reserves the right to utilize variousvarious portions of the Common.
Common
Elements or
Eiements or the
the uncompleted
uncompleted UnitsUnits inin connection
connection with with such
such construction
construction and and development
development of the the
Condominium.
Condominium. No No Unit
UnitOwner
Owneror orsuch
suchOwner's
Owner'sguests
guestsor orinvitees'
inviteesshall
shall in
in any
anyway
wayinterfere
interfere or
orhamper
hamper
the Developer,
Developer, its its employees,
employees, successors
successors or orassigns,,
assigns, in in connection
connection withwith such
such construction,
construction. Thereafter,
Thereafter, "
during such time
time asas the
the Developer,
Developer, itsits successors
successors or or assigns,
assigns, ownown any
any Units
Units within
within the
the Buildings
Buildings and
and isis
carrying
carrying on any
any business
business inin connection
connection therewith,
therewith, including
including thethe selling,
selling, renting
renting ororleasing
leasing ofofsuch
suchUnits,
Units,
the Unit Owners, their guestsguests and
and invitees
invitees shall
shall in
in no
no way
way interfere
interfere with
with such
such activities
activities or
or prevent
prevent access
access
to such Units by by the Developer, its its employees,
empioyees, itsits successors
successors or assigns. Notwithstanding the foregoing,
Deveioper's rights to the
Developer's the common
common elements
elements shall
shall terminate
terminate uponupon transfer
transfer of ofassociation
association control,
control, or
or when
when
Developer ceases to offer units units for
for sale,
sale, whichever
whichever occurs
occurs first.
first.

U)
0) Association
Association Easement.
Easement. AA perpetual,
perpetual, non-exclusive
non-exclusive easement
easement is hereby
hereby granted
to the
the Association
Association andand its
its successors
successors and
and assigns
assigns over,
over, across,
across, under
under and
and through
through the
the Condominium
Condominium
Property
Property for the
the purpose
purpose of ofpermitting
permitting the
theAssociation
Associaiion to
to perform
performitsitsobligations
obligationshereunder.
heri3under. Such
easement shall permit access to the the Units
Units upon
upon reasonable
reasonable prior
prior noUce,
notice, except that no
no notice
notice shall
shall be
be
required in the event
event of
of an
an emergency.
emergency.

A Unit
Unit Owner
Owner shall do nothing
nothing within
within oror outside
outside his Unit that interferes
interferes with
with or impairs,
impairs, or may
may
interfere with
interfere with or impair,
impair, the
the provision
provision ofof such
such utility,
utility, cable
cable television,
television, communications
communicatiors and and security
security
systems, or other service or or drainage fabilities
facilities or the use of these easements. The TheAssociation
Association shall
shall have
have
the irrevocable right of access to each
of.access Unitduring
eac Unit duringreasonable
reasonablehours,
hours, when
when necessary,
necessary, toto maintain,
maintain, repair
repair
or replace those
those items
items and' areas, as detailed in
and areas, in Section
Section 7.1 7.1 herein or
or aS
as otherwise contemplated
contemplated herein,
herein,
for which
which thethe Asèociation
Association is is responsible,
responsible, andand toto remove
remove any any improvements
improvements interfering
interfering with
with or
orimpairing
impairing
such
such facilities
facilities or easements
easements hereinherein reserved,
reserved, pursuant
pursuant to to the
the Declaration
Declaration or as as necessary
necessary to prevent
prevent.
damage to the Common Elements or to a Unit or Units.

Wherever in this Section

Section or
or elsewhere
elsewhere in this
this Declaration
Declaration an easement
easement isis granted
granted or reserved toto
any party,
any party, such
such easement
easement shall
shall also
alsobenefit
benefitsuch
suchparty's
party'ssuccessors,
successors,grantees,
grantees, assigns,
assigns, 'agents,
agents,
employees, licensees,
employees, licensees, invitees
invitees and guests. All easements
guests. All easements referred
referred to herein
herein shall
shall be
be non-exclusive
non-exclusive
easements.

3.5
3.5 Special Easements and Riqhts
Rights to
to Grant
Grant Easements.
Easements.

(a)
(a) Developer
Developer hereby
hereby reserves unto itself
reserves unto itself and
and its successors
successors and its its assigns,
assigns, and
and
grants to the Association
Association with the power
powerto to assign, non-exclusive easements
easements over,
over, under and and through
through the
the
Condominium Property for
Condominium Property for the
the construction,
construction, maintenance
maintenance and and operation
operation of
of electric,
electric, gas
gas or other utility,
utility,
cable television,
cable teievision, security
security systems,
systems, communications,
communications, serviceserviceor"
or other
other easements pertaining to
easements pertaining to the
the
construction, maintenahce
maintenance and and operation
operation of of other
otherequipment, condUits, pipes,
equipment,conduits, lines and
pipes, lines similar
andsimiiar
installations servicing the
installations servicing the Condominium
Condominium Property
Property oror other property with the power
property with power toto relocate
relocate any
any such
such
existing easements
existing easements in in any portion
portion of
of the
the Condominium
Condominium Property
Property and/or
and/or Association
Association Property,
Property, provided
provided
that such easements
easements or thethe relocation
relocation of
of easements
easements willwill not
not prevent
prevent oror unreasonably
unreasonabiy interfere with the
reasonable use of the
reasonable the Units for residential purposes. . ' .

Furthermore,
Furthermore, until until the
the Developer
Developer no no longer
longer holds
holds units
units for
for sale
sale or
or when
when the unit
unit
owners have assumed
owners assumed control
control ofof the
the! Association,
Association, whichever occurs first, first, Developer
Developer shall
shall have the
the right
right
and license for itself,
itself, its agents,
agents, successors
successors and assigns to use or assign any space space on the roofs of of the
the
Condominium buildings provided that such space space is is not
not already
already assigned as as a Limited
Limited Common
Common Element
Element
to aa Residential
Residential Unit
Unit totoany
anyPerson(s)
Person(s)forforthe theconstruction, installati~m, use,
constru_ction,installation, use,maintenance,
maintenance, repair,
repair,
replacement,
replacement, improvement,
improvement, removal and operation operation of of telecommunication
telecommunication 'equipment signage. Developer
equipment signage. Developer
shall have
shall have a non-exclusive
non-exciusive and and irrevocable easement over
irrevocab"le easement over the
the roof
roof areas
areas to to exercise
exercise its
its rights
rights set
set forth
forth
above. Without
above. Withoutlimitation
limitation this
this easement
easementshallshallinclude
includethe theright
righttotoconstruct,
construct,install,
install,use,,
use, maintain,
maintain, repair,
repair,
replace, improve,
replace, improve, remove
remove andand operate
operate anyany type
type of of telecommunication
telecommunication equipmentequipment and and signage on on the
the
7
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 ( (

roofs of the
the Condominium
Condominium buildings.
buildings. InIn addition,
addition, Developer
Developer shall have aa non-exclusive
non-exclusive and and irrevocable
irrevocable
easement over
easement over other
other portions
portions ofof the
the Condominium
Condominium for foraccess
accesstotoand
and from
from such
such roof
roof areas
areas and
and to to
construct, install,
construct, install, use,
use, maintain,
maintain, repair,
repair, replace,
replace, improve,
improve, remove and operate any utility
remove and utility lines
lines servicing
servicing
such telecommunication equipment.
such Notwithstanding the
equipment. Notwithstanding the above,
above, the
the Developer shallshall install such utility
utility
lines and
lines and locations
locations already
already used
used for
for such
such purposes
purposes or
or in
in which
which other
other utilities
utilities lines
lines are
are located.
located. Developer
Developer
and the Association
Association hereby agree to indemnify each each other for any damage or destruction caused to the
destruction caused
property
property of the other in the exercise of of any
any easement
easement right
right granted
granted in
in this
this Declaration.
Declaration.

Notwithstanding the. all easements,

foregoing, all
the.foregoing, easements, reservation
reservation and
and rights
rights retained
retained by
Developer in
Developer in this
this Section 3.5(a) shall terminate
terminate and
and be
be cancelable
cancelable by
by the
the association
association once
once Unit
Unit Owners
Owners
have assumed contrbl
other than the Developer have control ot.the
oLthe association
association or when the Developer
Developer no longer
longer offers
offers
units for sale, whichever occurs first.
first.

(b) Developer hereby reserves

Developer hereby reserves unto
unto itself
itself and
and its successors
successors andand its assigns,
assigns, and
and
grants to the
grants the Association
Association with the
the power
power to to assign,
assign, non-exclusive
non-exclusive easements over, under,
easements over, under, upon
upon and
and
through the
through the Condominium Propertyfor
Condominium Property for the
the purposes
purposes of accessaccess to, constructing or maintaining
to, constructing maintaining
improvements
improvements upon,upon,prOViding
providingutility
utilityservices
servicestotooror across,
across,oror providing
providingdrainage
drainagetoto or
or from
from the
the
CondominiumProperty,
Condominium Property,any
any other
other property
property which
which may
may become
become partpart of
of the
the Condominium
Condominium Property
Property
pursuant to
pursuant to this
this Declaration,
Declaration, or any
any other
other property
property adjacent
adjacent toto the
the Condominium
Condominium Property,
Property, provided
provided that
that
any such
such easement shall not interfere with
with the reasonable use oftheof the Units for their intended
intended purposes.
purposes.

(c) Developer hereby

Developer hereby reserves
reserves unto
unto itself and its
its successors
successors and
and its
its assigns
assignsnonL
non-
fel exclusive
exclusive easements over,
over, upon, and
and through
through the
the Condominium
Condominium Property
Property for
for vehicular
vehicular and/or
and/or pedestrian
pedestrian
'r\· ~'·-','· 1/1 traffic by the
traffic the Developer,
Developer, its
its designees,
designees, successors,
successors, assigns,
assigns, licensees,
licensees, lessees,
lessees, invitees, and guests
invitees, and guests
,~;)
within the
within the Condominium Property, provided
Condominium Property, providedthatthat any
any such
such easement
easement shallshall not interfere
interfere with
with the
the
reasonable
reasonable use of the Units for residential
residential purposes.
purposes.

(d) Developer hereby reserves

Developer hereby reserves the
the right to install all lines,
right to lines, pipes
pipes and
and facilities
facilities
throughout the Condominium
throughout the Condominium Property
Propertyas
as may
may be
be needed for the use
needed for use of
of the
the Units
Unitsindividually
indiVidually and/or
and/or
collectively from time
collectively from time to
to time. Developer shall
time. Developer shall assume
assume allall costs
costs associated
associated withwith such
such installations.
installations.
Subsequent to
SUbsequent to installation,
installation, unless
unless otherwise
otherwise provided
provided and
and agreed
agreedtoto by
by the
the affected
affected Unit
Unit Owner(s),
Owner(s), the the
Association shall be responsible for the maintenance
maintenance of
of such
such lines,
lines, pipes and
and facilities.

(e) Developer hereby reserves

Deve.loper hereby reserves all
all rights
rights of ownership
ownership interest in the mineral, oil
interest in oil or
or
rights under
gas rights under the land.
land.

(I) For as long

For long as
as the
theDeveloper
Developer remains
remains liable
liable under
under any
any warranty,
warranty, whether
whether
statutory, expressed,or
statutory, expressed, or implied,
implied,for
forany
anyact
actor
oromission
omissionininthe thedevelopment
dyelopment of the
the Building
Building or
or in
in the
the sale
sale
or marketing thereof, the
marketing thereof, the Developer
Developer shall
shall have
have the
the rig
right to enter
ht to enter on'the
on'the Condominium Property, and
Condominium Property, and to
to
take all actions necessary or convenient for the purpose of inspecting, testing, surveying, to determine determine the the
actions needed
needed to to fulfill
fulfill any warranty
warranty or to determine the extent of the warranty,
warranty, and to take
take those actions
necessary to
necessary to fulfill
fulfill the
the Developer's responsibilitiesunder
Developer's responsibilities underthe thewarranty.
warranty. The Developer can nullify
Developer can nUllify any
warranty if the Association
Association or a Unit Unit Owner
Owner prohibit
prohibit or limit
limit access
access to the
the Common
Common Elements
Elements oror totoaa Unit
Unit
as deemed
deemed necessary by the Developer in its sole discretion for any actions pursuant to the ·warranty. warranty

(g) Developerhereby
Developer herebyreserves
reservesthe theright
righttotoassign
assignallall or
or aa portion of its
portion ·of its rights
hereunder, or
hereunder, or all
all or a portion ofof such
such rights
rights in
in connection
connection with
with specific
specific portions
portions ofof the
the Condominium.
Condominium.. In.
the event
event of any
any partial
partial assignment,
assignment, the assignee shall not be deemed the Developer,
deemed the Developer, but may may exercise
exercise
such rights
rights of the Developer as are specifically
specifically assigned
assigned tQ to it.
it. Any
Any such ssignment may
such !ilssignment may be
be made on on aa
nonexclusive basis.
nonexclusive The rights
basis. The rights of
ofDeveloper
Developer under
under this
this Declaration
Declaration areare frdependent
independent of ofthe
the Developer's
Developer's
rights to control
control the Board of Directors
Directors of the
the Association, and, accordingly,
accordingly, shall not be deemed waived,
transferred or assigned
transferred or assigned to to the
the Unit Owners,
Owners, the the Board the Association
Board or the Association upon
upon the
the transfer
transfer of
of control
control of
the Association
Association. Any Anyassignment
assignmentofofDeveloper
Developerrights
rightsshall
shallbe
beevidenced
evidenced by byan
aninstrument
instrumentreporded
recorded with
with
8
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 the formalities
formalities of a deed inin the
the public
public records
records of the
the County.
County. Any
Anyother
otherthan
thanthe theabove
abovecannot
cannotretain
retain
control of the Association after
after aa majority
majority of
of the
the units
units have
have been
been sold
sold unless
unless itit receives
receives an
an assignment
assignment of
of
the creating developer's rights
rights and
and obligations.
obligations.

3.6 Incidental Damaqe.

Damage. AnyAny damage
damage toto any
any Unit
Unitcaused
caused by,
by, or
orasas aa result
result of,
of, the
the carrying
carrying out
out
of
of the
the maintenance
maintenance responsibifities of the
responsibilities of the Association
Asociation or
or another
another Unit
Unit Owner,
Owner, or or the
the negligence
negligence thereof;
thereof;
shall be repaired
repaired promptly
promptly by the Association as a Common
Association as Common Expense,
Expense, or the the Unit Owner,
Owner, as the case
may be. Any Any damage
damageto toany
anypart
partof
ofthe
theCommon
Common Elements
Elements caused
caused byby or
or the
the result
result ofof any
any intentional
intentional act
of aa Unit
Unit Owner,
Owner, the
the Unit
Unit Owner's
Owner's family,
family, agents,
agents, contractors,
contractors, invitees,
invitees, licensees
licensees or tenants,
tenants, or by by such
such
Unit Owner
Owner in in carrying
carrying out
outhis
hismaintenance responsibilities, if any,
maintenance responsibilities, any, shall
shall be be repaired
repaired promptly
promptly at the
expense of such Unit Owner.

3.7 Use of Multiple

Use Units to
MUltiple Units to FormOne
Form'One Comprehensive
Comprehensive Residential Space. A Unit
Residential Space. Unit may
may bebe
combined with
combined with either
either the
the Unit
Unit directly
directly above
above the subject
SUbject Unit
Unit and/or
and/or the
the Unit
Unit directly
directly below
below the
the subject
subject
Unit and/or the laterally-adjacent Unit in order to permit occupancy of such areas as one comprehensive comprehensive
residential
residential space. Such aacombination
space. Such combination of ofUnits
Units shall
shall be
be for
forpurposes
purposesof ofoccupancy
occupancy and and useuse only
onlyand
and shall
shall
deemed an
not be deemed an amendment to this Declaration.
Declaration. Further,
Further, any
anysuch
suchcombination
combination shallshall not
notbe
be considered
considered
to be a material alteration
alteration of or modification to the
modification to the configuration
configuration oror size
size of
of aa Unit.
Unit. In all events,
events, the subject
Units shall
Units shall in
in no manner be considered
considered to become
become one Unit,Unit, but
but rather
rather shall
shall at
at all
all times
times remain
remain and
and be
be
considered to
considered to exist
exist in
in the same manner as prior to the combination for purposes purposes of Assessments, voting
Assessments, voting
and all other matters as provided herein.

Any such
Any such combination
combination of Units
Units shall
shall bebe required
required toto comply
comply with
with all
all applicable
applicable building,
building, health,
health,
safety, and other applicable codes
safety, and codes and laws as may be applicable.
applicable. Additionally,
Additionally, no no construction
construction activities
activities
to effect
effect such
such aa combination
combination shall
shall be
be commenced
commenced without the the prior
prior written
written approval
approval of
of the
the BoarØ
Board of of
Directors, which approval
DireCtors, which approval cannot
cannot be
be unreasonably
unreasonably withheld.
withheld. The Board
Board shall
shall ensure
ensure that the combination
of Units shall have
Units shall have no
no detrimental impact on
detrimental impact or the struàtural integrity of
structural integrity of the
the Building
Building or
or the
the usage
usage of
of the
the
other Units
other Units in
in the
the BUilding.
Building. The
The Board
Board shall
shall act
act in
in aa reasonable
reasonable and
and prudent
prudent manner
manner in recognizing
recognizing thethe
rights of the
rights the Owner
Owner toto combine
combine such
such Units
Units in
in the
the manner
manner contemplated
contemplated by by this
this paragraph.
paragraph. The Developer
be exempt from
shall be from the approval provisions of this paragraph.
paragraph.

Section 4: Restraint upon

upon Separation
Separation and Partition
Partition of
ofCommon
Common Elements
Elements

The undivided
undivided share in in the
the Common
Common Elements
Elements and Common
Common SurplusSurplus which is appurtenant
appurtenant to aa
Unit, and
Unit, and the
the exclusive right to
to use
use all
all appropriate
appropriate appUrtenant.Limited
appurtenant. Limited COmmonCommon Elements,
Elements, shall
shall not
not be
be
separated from
separated from such
such Unit
Unit and
and shall pass with the title title to
to the
the Unit,
Unit, whether
whether or or not
not separately
separately described.
described.
The appurtenant share ih in the Common
Common Elements
Elements and Common Surplus, SurplUS, and the exclusive right to to use
use all
all
Limited Common
Limited Common Elements
Elements appurtenant
appurtenant to to aa Unit,
Unit, cannot
cannot be conveyed
conveyed or encumbered,
encumbered, except together
with such
with Unit. The respective
such Unit. respective shares
shares in in the
the Common
Common Elements
Elements appurtenant
appurtenant to to Units
Units shall
shall remain
remain
undivided, and no action for partition
undivided, and partition of
of the
the Common
Common Elements,
Elements, the
the Condominium
Condominium Property,
Property, or àhy
any part
part
thereof, shall be undertaken, except as as provided
prOVided herein with respect
respect toto termination
termination of the Condominium:
Condominium.

SectionS:
Section 5: Ownership
OwnershipofofCommon
Common Elements
Elements and
and Common
Common Surplus and
Share of
Share of Common
CommonExpenses;
Expenses Voting
Votinq.Riqhts
Rights

5.1 Ownership Shares. The undivided

undivided share in the Common
Common Elements
Elements and Common
Common Surplus
Surplus
appurtenant to each
appurtenant to each Unit,
Unit, as
as well as
as the
the undivided
undivided share
share of
of the
the Common
Common Expenses to be paid
Expenses to paid with
with
to each
respect to each Unit,
Unit, shall be computed on the following
follOWing basis:

(a) The allocation

allocatiOn of
of fractional
fractional shares
shares inin the
theCothmon.
Common Elements and Common
Elements .and Common
Surplus, and the
Surplus, and the fractional
fractional share
share of the Common
Common Expenses, appurtenanttotoeach
Expenses, appurtenant eachUnit
Unitisis set
set forth
forth in
in
Exhibit "B"
Exhibit "B" as
as attached
attached hereto
hereto and
and made
made a part hereof
hereof by
by this
this reference.
reference. The allocation
allocation ofof fractional
fractional
been established by the Developer in the following manner:
shares has been
9
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 ( (

Both the fractional shares of

Both of ownership.of
ownership of Common Elements Elements and the Common
Common Expenses
Expenses ofof the
the
Units were
Units were apportioned by grouping
apportioned by grouping the
the Units
Units into
into the
the Common
Common Elements
Elements and
and Common
Common Expenses
Expenses
assigned to
assigned to each
each unit shall
shall be based upon the total square footage of of each
each unit
unit in
in uniform
uniform relationship
relationship to
to
the total square footage of
of each
each other
other unit
unit in
in the
the condominium.
condominium,

(b) The foregoing methods

methods of
of calculation were undertaken in order to establish a fair
and equitable method
and equitable method of allocating
allocating assessment percentages
percentages to to Units
Units within
within the
the Condominium
Condominium and
and every
every
purchaser
purchaser of of aa Unit,
Unit, whether
whether from
from the Developer
Developer or otherwise, hereby agrees
otherwise, hereby agrees to
to be
be bound
bound by such
such
calculations,
calculations.

52
5.2 Voting.
Voting, EachEach Unit
Unit Owner
Owner shall
shall be
be a member
member of thethe Association.
Association, Each
Each UnitUnit shall
shall be
entitled to one
entitled to one vote to be cast by its Owner in in accordance
accordance with the provisions of of the By-Laws
By-Laws and Articles
of Incorporation of the
Incorporation of the Association,
Association. The total number of votes
votes shall
shall at all
all times
times bebe equal
equal to
to the
the number
number of of
Units
Units submitted
submitted toto the
the condominium
condominium formform ofof ownership
ownership under
under this
this Declaration. Membership in
Declaration, Membership in the
the
Association shall
Association shafi automatically
automatically terminate
terminate upon
upon the\he termination
termination of ownership
ownership of of aa Condominium
Condominium Parcel,
Parcel,
subsequent owner(s) taking title
and the sUbsequent title shall
shall automatically
automatically become
become entitled
entitled to
to membership.
membership,

Section 6: Amendments

6,1
6.1 Amendment by
Amendment by Unit Owners,
Owners. Except
Except as
as otherwise
otherwise provided
provided in in Section
Section 66 hereinbelow
hereinbelow or or
elsewhere in
elsewhere in this
this Deciaration
Declaration or the exhibits attached hereto,
hereto, this Declaration (including
(inclUding the Condominium
~f;1 Plat) may
Plat) may bebe amended
amended by by affirmative
affirmative vote
vote of
of the
the Owners
Owners ofof 75%
75% of all the Condominium Parcels at an
Condominium Parcels
Association meeting
Association meeting duly called for such purpose pursuant to the the By-Laws;
By-Laws; provided,
provided, however,
hovyever, that
that (1)
(1) no
no
LJ amendment
amendment to to this
this Declaration shall be made which
Declaration shall which affects any
any of of the
the rights
rights and
and privileges
privileges provided
provided to to
the Developer
the Developer as as defined
defined herein
herein without
without the
the written
written consent
consent of of such
such Developer
Developer and and any
any Lender
Lender of the
Developer,
Developer, and and (2)
(2) no
no amendment
amendment may may change
change thethe configuration
configurationor or size
size'ofof aa Unit without
without the written
written
consent of the
consent the affected Unit
Unit Owner(s). All amendments
Owner(s), All under this
amendments under this Section
Section 6,16.1 shall
shall be recorded
recorded andand
certified as
certified as required
required by the Act
Act.

62
6.2 Amendment by Developer.
DeveiopeL

(a) Amendment'to
Amendment to Condominium Plans and
and Declaration,
Declaration. The
The Developer
Developer reserves
reserves the
the

1
,;1
"
right to make whatever changes
right to
until such time
until such time as
changes need
changes need only
changes it may
as Developer
Developer no
only be
be executed
may deem

executed by
deem necessary

by the
necessary in the
no longer has control
the Developer;
the Condominium
Condominium Plat and
control of the Association.
Association, The
Developer; provided,
and this
The amendment
this Declaration
Declaration
amendment reflecting
prOVided, however,
however, that
reflecting such
that no
no such
such
such amendment
amendment
unilaterally approved
unilaterally approved by
by the
the Developer shall
shalt change
change thethe configuration
bonfiguration or
or size
size ofof any
any Unit in any material
material
fashion, materially alter or modify the appurtenances to any Unit,
fashion, materially Unit change the proportion or percentage by by
which
which a Unit Owner shares the Common ExpensesExpenses and and owns the
the Common Surplus, or create
Common Surplus, create timeshare
estates, unless such
estates, unless such amendment
amendment is is also
also approved
approved by the record Owner of of the
the affected
affected Unit,
Unit, all
all record
record
owners liens on
owners of liens on such affected Unit,
Unit, and at
at least
least .seventy-five percent (75%)
seventy-five percent (75%) of of the
the total
total voting
voting interests
of the Association,

(b) Special Amendment

Special Amendment. Developer
Developer reserves the right and and power to to record
record a special
amendment ("Special
amendment ('Special Amendment")
Amendment") to to this
this Declaration
Declaration at at any
any time
time and
and from
from time
time to
to time which amends
the Declaration
Declaration andand any provision
provision therein
therein Ci) to comply
(i) to comply with with requirements
requirements of of the
the FNMA,
FNMA, FHLMC,
FHLMC, the the
Government Nationa,!
Government National Mortgage
Mortgage Association,
Association, the the Department
Department of Housing
Housing and Urban
Urban Development,
Development, the the
Federal Housing Administration,
Federal Housing Administration, the Veteran's Administration,
Administration, or any other other governmental
governmental agency
agency or or any
any
public, quasi-public
other pUblic, quasi-public or private
private entity which
which performs
performs (or may in the 4iture{uture perform)
perform) functions similarsimilar
to those currently performed
those currently performed byby such
such entities; (U)to
entities; (ii) to induce
induce any
any ofof such
such agencies
agencies or or entities
entities to make,
make,
purchase, sell,
purchase, sell, insure,
insure, guarantee
guarantee or otherwise
otherwise dealdeal with
with first mortgages covering 'Units;
mortgages covering 'Units; and
and (iii)
(iii) to bring
this
this Declaration
Declaration into compliance
compliance with
with applicable
applicable laws,laws, ordinances
ordinances or orgovernmental
governmental regulations.
regulations, In
furtherance
furtherance ofof the foregoing,
foregoing, a power
power coupled
coupled with with an
an .interest
interest is
is hereby
hereby reserved
reserved and.
and granted to to the
the
, 10
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 Developer toto make
Developer make or consent
consent to to aaSpecial
Special Amendment
Amendment on on behalf
behalf of
of each
each.Unit
UnitOwner,
Owner and
and the
the
Association,
Association. Each
Eachdeed,
deed,mortgage,
mortgage,trust
trustdeed,
deed,other
otherevidence
evidenceofofobligation,
obligation,ororother
otherinsfrument
instrumentaffecting
affecting
a Unit thereof shall
Unit and the acceptance thereof shall be
be deemed
deemed toto be
be aa grant
grant and
and acknowledgement
acknowledgement of, and and aa consent
to the reservation of, the power of
of the Developer make, execute and
Developer to make, and record
record Special
Special Amendments.
Amendments. The
right
right and
and pbwer
power to
to make
make Special
Special Amendments
Amendments hereunder shall terminate
hereunder shall upon turnover
terminate upon turnover to
to the
the Unit
Unit
owners.

(c) This
This Declaration
Declaration and
and all
all exhibits
exhibits hereto,
hereto, where
where applicable,
applicable, may
may be
be amended
amended
unilaterally by the
unilaterally by the Developer
Developer for the
the purposes
purposes set
set forth
forth and
and pursuant
pursuanttotoSection
Section718.110(5),
718.110(5), Florida
Florida
Statutes, to correct scrivener's errors.
Statutes,

6.3 Execution and Recordinq.

Execution Recording. An An amendment,
amendment, otherother than
than amendments
amendments made made by the the
Developer.alone
Developer alone pursuant
pursuanttoto the
the Act
Act or this
this Declaration, shall be
Declaration, shall be evidenced
evidenced by by aa certificate
certificate ofof the
the
Association which shall include recording datadata identifying the Declaration
Declaration and shall be executed with the
same formalities
iormalities required
required for the execution of a deed.
deed. Amendments
Amendments by by the
the Developer
Developer must
must be
be evidenced
evidenced
by a similar
similar certificate
certificate executed
executed by the Developer alone. An
Developer alone. An amendment
amendment of of the
the Declaration
Declaration is is effective
effective
when the applicable
when certificate is
applicable certificate is properly recorded inin the
properly recorded the public
public records
records ofof the
the County,
County, which
which shall
shall be
be
recorded together with the amendment, in in accordance
accordance with Section 718.110(3), F.S.

6.4 Limitation. No amendment

amendment may may be
be adopted
adopted whiOh
which would
would eliminate,'
eliminate, modify,
modify, prejudice,
prejudice,
abridge or otherwise
abridge adversely affect any rights,
otherwise adversely rights, benefits, privileges or
benefits, privileges or priorities
priorities granted
granted oror reserved
reserved toto
the Developer without
without the
the consent of said Developer
Developer inin each
each instance.
instance. The
The provisions
provisions of
of this
this paragraph
paragraph
may not be amended in any manner.

6.5 Procedure. No
Procedure. No provision
provision of
of this
this Declaration
Declaration shall
shall be
be revised
revised oror amended
amended by reference to
title or
its title or number
number only. Proposals to
only. Proposals to amend
amend existing
existing provisions of thisthis Declaration
Declaration shall
shall contain
contain the
the full
full
text of the provision
provision to' be amended,
to be amended, new words
words shall
shall be inserted
inserted in thethe' text
text underlined,
underlined, andandwords
words toto be
be
deleted shall
deleted shall be
be lined
lined through with hyphens.
through with hyphens. However,
However, ifif the
the proposed
proposed change
change isis so
so extensive
extensive that
that this
this
procedure
procedure wouldwould hinder,
'hinder, rather
rather than
than assist,
assist, the understanding
understanding of the the proposed
proposed amendment,
amendment, itit .isis not
necessary to use underlining and hyphens as indicators of words words added
added or deleted,
deleted, but,
but, rather,
rather, a notation
notation
must be inserted immediately preceding the the proposed
proposed amendment
amendment in in substantially
sUbstantially the
the following
following language:
language:
"Substantial
"Substantial rewording
rewording of Section
Section _ _ of the provision ._ _ for present
Declaration. See provision
the Declaration. present text."
text."
Nonrnaterial errors
Nonmaterial errors oror omissions
omissions inin the amendment
amendment process
process shall not not invalidate
invalidate anan otherwise
otherwise properly
properly
promulgated amendment
promulgated amendment.

Section 7:
7: Maintenance and Repairs

7.1 Responsibility for the maintenance, repair and replacement

Responsibility replacement of
of the
the Condominium
Condominium Property
Property
is as follows:

~;ij (a) Elements. In

Common Elements. In addition
addition to
to items
items to
to be
be maintained
maintained pursuant to Section 3.3
:dii!I' hereof, the Association
hereof, Association shall manage, maintain, repair and replace, as part part of
of the
the Common
Common Expenses,
Expenses, all
all
of the Common .Elements
Elements as defined herein, including, but not limited
limited to, the following:

(i) all drainage

drainage and
and stormwater
stormwater management
management systems,
systems, driveways,,
driveways, and
and
adjacent drainage;
adjacent drainage;

(ii)
(H) all water
all water and
and wastewater lines and
wastewater lines and piping
piping serving
serving the
the Units
Units of the
the
Condominium;

(iii) all landscaping,

landscaping, lawn and grass
grass areas
areas and
and sprinkler
sprinkler systems
systems within
within the
the
Property;
Condominium Property;

11
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(iv) all entryways

all entryways toto the
the Buildings
Buildings and
and any controlled
controiled access and intercom
intercom

I serving the building, the security systems for the Units which specifically
systems serving
fire and emergency warning systems

(v)
systems and

all
and lights.

ail portions
lights.

portions of any landscaping

landscaping islands
specificaily serve

islands 'located
located on,
serve such
such Unit,
Unit, and
and all

in
on, either in whole or in
all

part, or adjacent to the Condominium Property.

part, Property.

However, the.
However, the Association
Association shall
shall not
not perform
perform such
such maintenance
maintenance required
requiredof
of aa Unit Owner
Owner who utilizes
utilizes
portions of the
portions of the Limited
Limited Common
Common Elements
Eiements in accordance
accordance with
with Section
Section 3.3
3.3 herein,
herein, as
as otherwise
otherwise
contemplated
contemplated herein, extent such
herein, or to the extent such maintenance
maintenance arises
arises from or isis necessitated
from or necessitated by
bythe
the negligence,
negligence,
misuse or neglect of specific Unit Owners, in which
Owners, in case such
which case such cost
cost and
and expense
expense shall
shall be
be paid solely by
paid solely by
such Unit Owners.

(b)
(b) Units. The responsibility for maintenance,
maintenance, repair and
and replacement within the Units
shall be shared by the Association and
and the
the Unit
Unit Owners
Owners as
as follows:
follows:

(i) By the Association.

Association. The Association shall shail be responsible
responsible forfor maintaining,
maintaining,
repairing and
repairing and replacing
replacing ailall water and
and wastewater
wastewater lines lines and
and piping
piping located
located outside
outside ofof the
the Unit
Unit (except as as
otherwise stated
otherwise stated in sub-paragraph (ii) (ii) below),
below), allall pipes,
pipes, lines,
lines, wiring1
wiring, facilities andand conduits
conduits located
located within
within
the walls
wails and any soffits contained within a Unit Unit and which provides services to more than one Unit, Unit, and
and
any portions
any portions of any any fire
fire protection
protection and andemergency
emergency warning
warning systems,
systems, including,
inclUding, sprinklers,
sprinklers, alarms,
alarms,
barriers and
dampers, barriers and lights contained within within the
the physical
physical boundaries
boundaries of of and
and servicing
servicing aa Unit.
Unit. InIn addition,
addition,
with regard
with regard to thethe Units,
Units, thethe Association
Association shall shall bebe responsible
responsibie for
for (1)
(1) maintaining
maintaining the the exterior
exteriorsurfaces
surfaces
(defined
(defined to
to be
be those
those walls
walls that are visibie
visible from the exterior of the Building) and interior portions of of all
all walls
that serve to bound the balcony area area located
located adjacent
adjacent to thethe Unit,
Unit, (2)
(2) all
ail roofs,
roofs, including
including the
the replacement
replacement
and repair
and repair and
and (3)
(3) paving
paving andand electrical
electrical that that are
are not
not part
part or inside
inside of aa Unit,Unit. In accordance
In accordance with With
Section
Section [20.1] , a Unit Owner shall shail be
be liable
liable for
for the expense
expense ofof any
any maintenance, repair repair or
or replacement
replacement of of
any part ofof the
the Unit
Unit to
to be
be maintained
maintained by by the
the Association
Association under
under this
this paragraph
paragraph made made necessary
necessary by by his
his
negligence, misuse
negligence, misuse oror negiect
neglect or by that of any member member of hishis family
family oror his
his or
ortheir
theirguests,
guests, employees,.
empioyees,
or lessees.
agents or iessees.

(ii) By the Unit Owner.

Owner. Each
Each Unit
UnitOwner
Ownershallshail maintain,
maintain, repair
repair and
and replace
replace
everything within
everything within the
the confines
confines of of the
the Owner's Unit, which
Owner's Unit, which isis not to
to bebe maintained
maintained by by the
the Association
Association
pursuant to subsection (b)(i)
(b)(i) of
ofthis
thissection,
section,including1
including, but
but not
not limited
limited to:
to:

(A) The entire Unit as defined in Section 3.2

3.2 hereof
hereof which
which Unit
Unit shall
shall
include, without
include, without limitation,
limitation, all
all apertures
apertures inin any
any boundary
boundaryof
of the
the Unit
Unit but
but which
which shail
shall exclude
exclude the
the exterior
exterior
surfaces made of glass or other transparent material and the exterior of doors, which shall shall be
be maintained
by the Unit Owner in such
such manner to preserve a uniform appearance among the Units in the Buildings;
BUildings;

(B) The interior side of the

interior side the entrance door to
entrance door to a Unit and
and the interior
interior
side of all other doors affording access to a Unit;

(C) Interior
Interior paint,
paint, finish,
finish, covering, wallpaper and
covering, wallpaper and decoration
decoration of all
all
wails, floors and ceilings;
walls,

(0) All built-in shelves, cabinets, counters,

Ail counters, storage
storage areas
areas and
and
closets;

(E) Any and all

ail appliances mech~nical, ventilating,
appliances and mechanical, ventilating, heating and
and
conditioning eqUipment
air conditioning equipment contained within and serving the Unit;
Unit;

(F) All
Ail bathroom fixtUres,
fixtures, equipment and apparatuses;

W.~:~
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 (0)
(G) All electrical,
electrical, plumbing
plumbing (including
(including connections
connections and
and fixtures),
fixtures),
telephone and television
telephone and fixtures, apparatuses,
television fixtures, apparatuses, equipment, outlets, switches,
equipment, outlets, switches, wires,
wires, pipes
pipes and conduits,
conduits,
ducts
ducts, electric
electric lines
lines and
and other
other facilities
facilities for
forthe
the furnishing
furnishing of
of utility
utility and other
other services between
between the Unit andand
its individual service panel or meter
meter or or contained
contained within
within a Unit;

(H) All interior doors, interior

interior doors, interior surfaces,
surfaces, non-load-bearing
non-load-bearing walls,
walls,
partitions, and room dividers;

(I) AD furniture, furnishings

All furniture, furnishings and
and personal
personal property contained within
within
the respective Unit; and

(J) Balconies located adjacent to

to the
the Unit;
Unit;

(K) Storage facilities located thereon, ifif any,

any, and
and garages;
garageS;

(L) All other

other maintenance
maintenance or repair of
of or
or replacements
replacements involving
involving a
as contemplated
Unit as contemplated and
and authorized
authorized hereunder.

7.2 Notwithstanding the

Notwithstanding the provisions
provisions of
of Section
Section 7.17.1 herein,
herein, all
all modifications
modifications toto the
the exterior
exterior of
the Unit must be approved
the approved in writing by
by the
the Board,
Board, or
or aa committee
committee designated
designated by by the
the Board
Board and
and headed
headed
by an
by an officer of the
the Association,
Association, prior to commencement
commencement of such such work soso as
as to
to maintain
maintain the
the character
character and
and
to preserve
preserve thethe aesthetic
aesthetic and
and architectural
architectural qualities
qualities ofofthe
theCondothinium.
Condominium. The The Association
Association shall
sh.all
promulgate rules
promulgate rules and
and regulations
regylations in accordance with the foregoing.
foregoing .

Riqhts of Handicapped.
. 7.3 Rights Handicapped. SubjectSubject to to the
the provisions
provisions of of Section 9 of of this
this Declaration,
Declaration, each
each
Owner shall
Owner shall have
have the
the right
right to modify the Owner's
Owner's Residential
Residential Unit and and the
the route over the
route over the Common Area
leading to
leading to the
the front
front door of the the Residential
Residential Unit, Unit, at
at the
the Owner's
Owner's solesole cost
cost and
and expense,
expense, in order
order toto
facilitate access to the Residential Unit by persons who are blind,visually blind, visually handicapped,
handicapped, deaf deaf or
or physically
physically
disabled,
disabled, or to alter
alter conditions which
which could
could bebe hazardous
hazardous to st[ich persons. The
such persons. The rights
rights grthhted
grarited by this
Section
Section are are further
further subject
subject to thethe following
following conditions:
conditions: (i) the modifications
(i) the shall be consistent
modifications shall consistent with
with
applicable building code
applicable bUilding code requirements;
requirements; (i1) (ii) the
the modifications
modificationsshall shall be
be consistent
consistentwith with the
the intent
intent ofof
otherwise applicable'provisions
provisionsof of this
this Declaration
Declaration pertaining
pertainingtoto safety
safety or
or the
the aesthetic integrity of the

•
otherwise applicable aesthetic integrity the
Property; (iii)
Property; (iD)the
themodifications
modificationswhichwhichare are external
external to to the
the Residential
Residential Unit shall notnot prevent
prevent reasonable
reasonable
passage by
passage by other
other Owners
Owners or or lnvitees
Invitees on on the
the Project,
Project, andand shall
shall be
be removed
removed by by the
the Owner
Owner when
when thethe
~ Residential Unit
Residential Unit is
is no longer
longer occupied
occupied by by persons
persons requiring
requiring those
those modifications;
modifications; (iv)(iv) any
any Owner
Owner whowho
intends to
intends to modify
modify aa Residential
Residential Unit pursuant to this Section Section shall
shall submit
submit their
their plans
plans andand specifications
specifications toto
the Association
the Association for for review
review toto determine
deternine whether the modifications
modifications comply
comply with
with the
the provisions
provisionsof of Section
Section 9
and this
and this Section;
Section; and and (v) any change
(v) any change in the the exterior
exterior appearance
appearance of of a Residential
Residential Unit Unit shall bebe inin
accordance with
accordance with the
the provisions
provisions,of ofthis
this Declaration
Declarationand andall allapplicabie
applicableprovisions
provisionsofoflaw.
law. The Association
shall not deny approval of the proposed modifications under
shall under this Section without
without good cause

Section.8:
Section Additions, Alterations or
8: Additions, or Improvements
Improvements by the Association

Capital additions,
additions, alterations or improvements to to the
the Common
Common Elements
Elements and
and Association
Association property
property
(as distinguished
(as from maintenance,
distinguished from maintenance, repairs
repairs and replacements) costing in
replacements) costing in excess
excess of $50,000.00
$50,000..00 inin the
the
aggregate
aggregate in in any
any calendar
calendar year,
year, shall
shall be
be considered
considered material
materialand
andsubstantial
substantialininnature.
nature. The
The Association
Association
may proceed
may proceed with such,
SUCh. material
material additions, alterations or improvements
additions, alterations improvements only only ifif the
the making
making of of such
such
additions,
additions, alterations or improvements shall shall have
have been
been approved by the Owners
Owners ofof a majority
majority of
of the
theUnits
Units
represented
represented at a meeting
meeting at which
which aa quorum
quorum isis attained..
attained. Additions,
Additions, alterations
alterations or
or improvements
improvements to to the
the
Common Elements,
Common Elements, or or any
any part thereof, costing $50,000.00
thereof, costing $50,000.00 or or less
less in th aggregate, during
the aggregate, during a calendar
calendar
year, are not material in nature, and,
year, and, therefore,
therefore, may
may be
be made
made byby the
the Board
Board ofof Directors
Directors without
withoutapproval
approval
of the Unit Owners.
Owners. TheThe cost
costand
andexpense
expenseofofany anysuch
suchadditions,
additions, alterations
alterations or
or improvements
improvements to to such
such
Common Elements
Common Elements shall
shall be
be as
as a "Speoial Assessment' of the Unit Owners as provided
"Special Assessmenf' proVided in Section
Section 13.2
13.2
\ 13
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hereof. For purposes

purposes of this
this Section
Section 8,8, "aggregate
"aggregate in any
any calendar
calendar year"
year" shall
shall 'include the total
include the total debt
incurred in
incurred in that
that year,
year, if such debt is incurred to perform the above-stated purposes, regardless of whether
the repayment of any part of of that
that debt is
is made beyond that year.
year. "

Section 9: Additions, Alterations or

or Improvements
Improvements by
by Unit
Unit Owner
Owner

9.1 To the
the Common
Common Elements.
Elements. After the the completion
completion of the
the improvements
Improvements included in the
included in the
Common
Common Elements which which are set forth in this Declaration, which are
Declaration, or which are contemplated
contemplated by by the
the Developer in in
the completion
completion of of the
the development
development asas set
set forth
forth herein,
herein, there
there shall
shall be
be no
no alterations or additions
alterations or additions to
to the
the
Common Elements (which by definition includes the Umited Common
Common Common Elements),
Elements), except
except asas authorized
authorized byby
the
the Board
Board of Directors
Directors and
and approved
approved by by not
not less
less than
than 75%
75% of the
the total
total vote
vote of
of the
the Unit
Unit Owners.
Owners. In
addition to
addition to the
the foregoing requirement, no no alterations or additions may be be made
made involuntarily
involuntarily to the Limited
Limited
Common Elements of any particular Unit if such alteration or addition will adversely affect or prejudice the
Common the
rights
rights of such
such Unit Owner unless
unless his
his consent
consent first
first has
has been
been obtained.
obtained. The cost of the foregoing
ofthe foregoing shall be
assessed as Common ExpensesExpenses unless
unless otherwise
otherwise provided
provided herein.
herein.

9.2 To the Units. Except

Exceptas asotherwise
otherwise reserved
reserved by by the
the Developer
Developer or or detailed
detailed in
in Sections
Sections 3.4
3.4
or 18
18 herein,
herein, no
no Unit
Unit Owner
Owner shall
shall make
make any any alteration
alteration or
or improvement
improvement to such such Owner's
Owner's Unit except
except in in
accordance with
with this Section 9.2.
9.2. AA Unit
UnitOwner
Owner maymay make
make alterations
alterations and
and improvements
improvements to the interior of
the Unit
Unit so long
long as
as such
such alterations
alterations oror improvements
improvements are not visible from the the outside
outside of the
the Unit
Unit or
or the
the
Buildings,
Buildings, do
do not
not impair
impair the structural
structural integrity
integrity of the
the Unit or the Buildings,
BUildings, do notnot otherwise
otherwise violate the
terms
terms of this
this Declaration, and are
Declaration, and are in
in compliance
compliance withwith all
all applicable
applicablebuilding
buildingcodes
codesandandlaws.
laws. A Unit
Unit
Owner may
may not expand,
expand, enlarge
enlarge or relocate
relocate hishis Unit.
Unit. Other
Other alterations
alterations oror improvements
improvements to a Unit Unit which
which
are not discussed
discussed in this Declaration
Declaration may be made only if prior prior approval
approval in writing
writing is
is obtained
obtained from
from the
the
Board or a committee designated
designated byby the
the Board
Board and
and headed
headed by by an
an officer
officerof
ofthe
theAssociation.
Association.

9.3 Indemnification by
Indemnification by Unit
Unit Owner.
Owner. A A Unit
Unit Owner
Owner making
making or causing
causing to be made any suchsuch
additions, alterations
additions, alterations or
or improvements
improvements to to the
the Unit
Unit or
or the
the Limited
Limited Common
Common Elements
Elements as
as contemplated
contemplated
herein agrees,
herein agrees, and
and shall
shall be
be deemed
deemed to havehave agreed,
agreed, for
for such
such Owner,
Owner, and
and such
such Owner's
Owner's heirs,
heirs, personai
personal
representatives, successorsand
representatives, successors and assigns,
assigns, as as appropriate,
appropriate, to to 'hold the Association
hold the and all other
Association and other Unit
Unit
Owners harmless from
Owners harmless from and
and to indemnify
indemnify them
them for any liability or damage
damage to thethe Condominium
Condominium Property
Property
and
and expenses arising therefrom,
expenses arising therefrom, and and shall
shall be be solely
solely responsible
responsible for
for the
the maintenance,
maintenance, repair
repair and
and
insurance thereof from and afterafter that date
date ofof installation
installation or
or construction
construction thereof
thereof as
as may
may be
be required
reqUired by
bythe
the

'It Association.

9.4 Power of Developer

Power Developer toto Veto
VetoCertain
CertainProposed
ProposedModifications.
Modifications. Notwithstanding
Notwithstanding any any
provision to the contrary,
provision to contrary, the
the Developer,
Developer, having
having the
the intention
intention in its
its development
development of of the
the Condominium
Condominium to to
maintain an
maintain an uniform
uniform external
external appearance
appearance to to the
the Buildings, shall have
Buildings, shall have the
the power,
power, until
until such
such time asas the
the
Association
Association isis transferred
transferred from the
the" Developer
Developer to the other unit owners or when the the Developer
Developer nono longer
longer
offers units for sale,
sale, to veto any proposed improvement as contemplated by this Section.

Section 10: Additions, Alterations

Alterations or
orImprovements
Improvements by
by Developer
Developer

The restrictions
The restrictions of
of Section
Section 99 hereof
hereof shallshall not
not apply
apply to
to Developer-owned
Developer-ownedUnits. Units. The
The Developer
Developer
shall
shall have
have the additional
additional right,
right, without
without thethe consent
consent or or approval
approval of the
the Board
Board of Directors
Directors or other
other Unit
Unit
Owners, to
Owners, to make
make alterations,
alterations, additions
additions or or improvements,
improvements, structural and non-structural,
structural and interior and
non-structural, interior and
. exterior, ordinary and
exterior, ordinary and extraordinary,
extraordinary, in, in, to
to and
and upon any Unit pwned
upon any owned by it,it, to
to the
the proposed
proposed or oralready
already
constructed
constructed Unit located or or to
to be
be located
located thereon,,
thereon, and Limited
Limited Common
Common Elements
Elements appurtenant
appurtenant thereto.
thereto.
Such modifications
Such modifications shall include,
include, without
without limitation:
limitation: (i) th~ removal
(i) the removal of walls,
W,alls, floors,
floors, ceilings
ceilings and other
other
structural portions of the Unit;
structural portions Unit; (ii)
(Ii) changes
changes to to the
thelayout
layoutorornumber
numberofofrboms.
rooms inInany anyDeveloper-owned
Developer-owned
Units;
Units; and (Hi)
(iii) 'changes
changes to to the
,the size
size and/or number number of Developer-owned
Developer-owned UnitsUnits by by combining
combining separate
separate
Developer-owned
Developer-owned Units or or otherwise.
otherwise. Any Any amendments
amendments to to this
this Declaration
Declaration or the Condominium
Condominium Plat Plat
required by
required actions taken pursuant to,
by actions to this
this Section
Section maymay bebe effected
effected byby the
the Developer alone alone without the
14
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 consent of any other person; provided,
provided, however,
however,.if if any such amendment shall change the configuration or or
size
size of any
any Unit
Unit in
in any
any material
material fashion,
fashion, materially
materially alter
aiter or
or modify
modify thethe appurtenances
appurtenances to to the
the Unit,
Unit, or
change
change the proportion or percentage
percentage by by which
which thethe Unit
Unit Owner
Owner shares
shares thethe Common
Common Expenses
Expenses andand owns
owns
the Common Surplus,
Surplus, the execution of of the
the amendment
amendment to the the Declaration
Declaration effecting
effecting such
such change
change must
must bebe
joined
joined in by the
the record
record owners
owners of
of the
the Unit,
Unit, all
all record
record owners
owners of of liens
liens on
on the
the affected
affected Unit,
Unit, and
and at
at least
least
seventy-five percent (75%) of the total
seventy-five total voting
voting interests
interests inin the Association.
Association. Without limiting
limiting the generality
generality
of Section
Section 6.5 hereof, the provisions of of this
this Section
Section maymay not
not be
be added
added to,to, amended
amended or or deleted
deleted unless
unless by,
by,
with the
or with the prior written
written consent of, the Developer.
Developer.

Section 11: Operation of the Condominium by the Association;

Associatiotv Powers
Powers and
and Duties

11.1 Powers and

Powers and Duties.
Duties. The
The Association
Association shall be be the entity
entity responsible for the operation of
the Condominium.
Condominium. The The powers
powers andand duties of the
duties of the Association
Association shall
shall include
include those set
set forth in the By-Laws
By-Laws
and Articles
Articles of Incorporation
Incorporation as amended from time to to time.
time. In
In addition,
addition, the
the Association
Association shall
shall have
have all
all the
the
powers and duties
powers and duties set
set forth
forth in
in the Act,
Act, as well
well as
as all
all powers
powers andand duties
duties granted
granted to
to or
or imposed
imposed upon
upon itby
itby
Declaration, including,
this Declaration, including, without limitation:

(a) The irrevocable right to have access

ThEiirrevocable access toto any portion
portion of each Upit
Unit and
and the Limited
Limited
Common Elements
Common Elements appurtenant
appurtenant thereto
thereto from
from time
time to
to time
time during
during reasonable
reasonable hours
hours as
as may
may be
be necessary
necessary
for the maintenance,
maintenance, repair or replacement
replacement of
of such
such portions
portions thereof
thereof as
as required
required by
by this
this Declaration
Declaration or
or the
the
Act, for performing
Act,for performing extermination services,oror at
extermination services, at any
any time and and by (orce, if necessary,
by force, necessary, for
for making
making
emergency repairs necessary to prevent
prevent damage
damage to the Buildings,
BUildings, the Common Elements
Elements oror to the
the Unit
Unit or
or
any other Unit or Units.
Units.

(b) The power

The power to
to make
make and
andcollect
collectAssessments
Assessments and and other
otherrelated
relatedexpenSes
expenses
authorized under the
authorized under the Act against
against Unit
Unit Owners,
Owners, to
to lease,
lease, maintain,
maintain, repafr
repair and
and replace
replace the
theCommon
Common
Elements, and
Elements, and to
to grant,
grant, modify or cancel easements pertaining to the Common
Common.Elements.
.Elements.

(c) maintain accounting

The duty to maintain accounting records, according to good
good accounting
accounting practices,
practices,
which shall be open to inspection
which shall inspection by
by Unit
Unit Owners
Owners or
or their
their authorized
authorized representatives
representatives at
at reasonable
reasonable times
times
upon prior request.

(d) The power

The power to management and
to contract for the management and maintenance
maintenance of the
Condominium Property and
Condominium Property and to
to authorize
authorize aa duly
duly licensed
licensed management
managementagentagent(who
(whomaymaybebean
an affiliate
affiliate of
of
the Developer)
the Developer) toto assist
assist the
the Association
Association in
in carrying
carrying out
out its-
its-powers
powers and
and duties
duties by
by performing
performing such
such
functions
functions as
as the submission of proposals, collection
the submission collection of Assessments,
Assessments, preparation
preparation of records,
records, enforcement
of rules
rules and
and regulations,
regulations, and
and perform
perform the
the maintenance,
maintenance, repair
repair and
and replacement required of
replacement required of the
the
Association with such
Association with such funds
funds as shall
shall be
be made
made available
available by
by the
the Association
Association for
for such
such purposes.
purposes. The
Association also shall
Association also shall have
have the
the power
power toto join
join with
with other
othercondominium
condominium associations
associations and and entities
entities in
in
contracting for the
contracting for the maintenance
maintenance and
and repair of the properties such other
properties of such other condominiums
condominiums and and other type
properties, and may
properties, and may contract
contract for or may
may join with
with other
other condominium
condominium associations
associations in in contracting
contracting for the
management of
management of the
the properties
properties of such
such other condominiums
condominiums and and other
other type
type properties,
properties, asas may
may be more
specifically
specifically provided of Incorporation
provided for by the Articles of Incorporation and By-Laws
By-Laws of
of the Association.

, (e) The power

power to
to borrow
borrow money,
money, execute
execute promissory
promissory notes and and other
other evidences ofof
indebtedness
indebtedness andand toto give
give as security therefor mortgages and security
mortgages and security interests
interests in
in property
property owned
owned by
by the
the
Association, any. Such
Association, if any. Such actions
actions must
mustbebe approved
approved by
by aa majority
majority of
of the entire Board
Board of of Directors
Directors and the
the
Owners of all
all the Units or by such greater percentage of the Board or Unit Owners as may be specified in in
the By-Laws with
with respect to certain borrowing,
borrowing, and
and no
no sucft
such.action
action shall
shall be, permitted while
be, permitted while the
the Developer
owns any Unit without
w!thout the prior written consent of the Developer.
Developer,'

(f) The power

power to
to adopt
adopt and
and amend
amend rules
rules and
and regulations
regulations concerning the details
concerning the details of
of
operation and
the operation and use of the Condominium Property.
Property.
15
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 ( (

(g)
(g). The power to acquire,
acquire, lease,
iease, mortgage
mortgage and convey real and and personal
personal property
property
and to grant,
and grant, modify and and cancel
cancel easements
easements regarding
regarding suchsuch property,
property, provided
provided that such such action
action may be
done
done only
only (i)
(I) upon
upon the approval of of a majority
majority of the Board
Board of Directors
Directors and
and (H)
(ii) aa finding
finding by
by the
the Board
Board that
that
such action
such action is
is for the
the benefit of the members of the the Association.
Association. TheThe requirements
requirements of of Section
Section 88 pertaining
pertaining
to the
the Unit
Unit Owners'
Owners' approval
approval ofof costs
costs in
in excess
excess ofof the
the threshold
threshold amount
amount stated
stated therein
therein (including
(including the
the
proviso as
proviso as to
to the debt
debt incurred)
incurred) shall
shall also
also apply
apply to
to this
this acquisition
acquisition and
and dealing
dealingwithwith Association-owned
Association-owned
property; prOVided,
property; provided,however,
however,thatthatthe
theacquisition
acquisitionofofaaUnit Unitas
as aa result
result of a foreclosure
foreclosure of the lienlien for
for
Assessments shall be exemptexempt from
from these
these requirements.
requirements.

(h) The power

The power to
to acquire or enterenter into agreements
agreements acquiring
acquiring leaseholds,
memberships or
memberships or other
other possessory
possessory or use interests in
use interests in lands
lands or facilities
facilities for recreational purposes as
recreational purposes as long
long
are also
as such arrangements are also approved
approved by
by the
the Owners
Owners ofof aa majority
majority ofofthe
the Units.
Units.

(i) of the
All of the powers
powers which
which aa corporation
corporation not-for-profit
not-for-profit in the
the State
State of
of Florida
Fiorida may
may
exercise pursuant to this
exercise pursuant this Declaration,
Declaration, the
the Articles
Articles of
of Incorporation
Incorporation and
and By-Laws,
By-Laws, Chapter
Chapter 617,
617, Florida
Florida

I Statutes, and
Statutes, and the
the Act,
the Condominium.

11.2
except as expressly limited or restricted in the Act or the documents of
Act, in all cases except

Conflict. In the eventevent of

of conflict
conflict among
among the powers and duties of the Association or the
of

terms and
terms and provisions
provisions of this
this Declaration
Declaration or the the exhibits
exhibits attached
attached hereto,
hereto, this
this Declaration
Declaration shall
shall take
take
precedence
precedence over the Articles of of Incorporation,
Incorporation, By-Laws
By-Laws and applicable
applicabl.e rules
rules and
and regulations;
regUlations; the
the Articles
Articles
of Incorporation shall take precedence
Incorporation shall precedence over the the By-Laws
By-Laws andand applicable
applicable rules
rules and
and regulations;
regulations; and
and the
the
By-Laws shall
By-Laws shall take
take precedence
precedence over over applicable
applicable rules
rules and
and regulations,
regulations, all
all as
as amended
amended from from time
time to time.
time.
Notwithstanding anything inin this
NotWithstanding anything this Declaration
Declaration oror its
its exhibits
exhibits to the
the contrary,
contrary, thethe Association
Association shall
shall at
at all
all
times be the entity having ultimate
ultimate authority
authority over
over the
the Condominium,
Condominium, consistent
consistentwith with the
the Act.
Act.

11.3 Limitation of Liability

Limitation Liability of Association. Notwithstanding
ofAssociation, Notwithstanding the the duty
duty of thethe Association
Association to to
. maintain and
and repair parts of
of the Condominium
Condominium Property, the Association shall shall not
not be
be liable
liable to Unit
Unit Owners
Owners
for injury
injUry or damage, other than for thethe cost
cost of
of maintenance
maintenance and repair, caused by by any latent
latent condition ofof
the Condominium
the Condominium Property. Further,
Further, the
the Association
Association shall
shall not liable for
not be liable for any
any such
such injury
injury or
ordamage
damage
caused by
caused by defects
defects in design
design or
or workmanship
workmanship or or any
any other
other reason
reason connected
connected with with any
any additions,
additions,
alterations or
aiterations or improvements
improvements done
done by
by or onon behalf
behalf of
of any
any Unit
Unit Owners,
Owners, regardless
regardless ifif whether
whether or or not
not same
same
shall
shall have
have been approved by the Association
been approved Association pursuant
pursuant to
to the
the provisions
provisions hereof.
hereof.

NOTWITHSTANDINGANYTHING
NOTWITHSTANDING ANYTHINGCONTAINED
CONTAINED HEREIN
HEREIN ORORININ THE
THE ARTICLES
ARTICLES OF OF
INCORPORATION,BY-LAWS,
INCORPORATION, BY-LAWS,ANY
ANY RULES
RULES OROR REGULATIONS
REGULATIONS OF OF THE
THE ASSOCIATION
ASSOCIATION OROR ANY
OTHER
OTHER DOCUMENT GOVERNING OR
DOCUMENT GOVERNING OR BINDING
BINDING THE
THE ASSOCIATION
ASSOCIATION (COLLECTIVELY,
(COLLECTIVELY, THE
THE
"ASSOCIATION DOCUMENTS"),
"ASSOCIATION DOCUMENTS"), THE
THE ASSOCIATION
ASSOCIATION SHALL
SHALL NOT
NOT BE LIABLE
LIABLE OR
OR RESPONSIBLE
RESPONSIBLE
FOR, OR
FOR, OR IN
IN ANY
ANY MANNER
MANNER BE
BE AAGUARANTOR
GUARANTOR OR OR INSURER
INSURER OF,
OF, THE
THE HEALTH,
HEALTH, SAFETY
SAFETY OR.
OR
WELFARE
WELFARE OF ANYANY OWNER,
OWNER, OCCUPANT
OCCUPANT OROR USER
USER OF
OF ANY
ANYPORTION
PORTION OFOFTHE
THECONDOMINIUM
CONDOMINIUM
PROPERTY, INCLUDING,
PROPERTY, INCLUDING, WITHOUT
WITHOUT LIMITATION, RESIDENTS AND
LIMITATION, RESIDENTS AND THEIR
THEIR FAMILIES,
FAMILIES, GUESTS,
GUESTS,
INVITEES,
INVITEES, AGENTS,
AGENTS, SERVANTS,
SERVANTS, CONTRACTORS
CONTRACTORS OR OR SUBCONTRACTORS
SUBCONTRACTORS OR OR FOR:
FOR ANY
ANY
PROPERTY
PROPERTY OF OF ANY
ANY SUCH
SUCH PERSONS.
PERSONS. WITHOUT
WITHOUT LIMITING
LIMITING THE
THE GENERALITY
GENERALITY OF OF THE
THE
FOREGOING: . .

(a) IT IS
IS THE
THE EXPRESS
EXPRESS INTENT
INTENT OF
OF THE
THEASSOCIATION
ASSOCIATION DOCUMENTS
DOCUMENTS THAT
THAT THE
THE
VARIOUS
VARIOUS PROVISIONS THEREOF WHICH
PROVISIONS THEREOF WHICH ARE
ARE ENFORCEABLE
ENFORCEABLE BY.
BY THE
THE ASSOCIATION
ASSOCIATION AND
AND
WHICH GOVERN OR
WHICH GOVERN OR REGULATE
REGULATE THE
THE USES
USES OF
OF THE
THE CONDOMINIUM
CONDOMINIUM PROPERTY
PROPERTY HAVE BEEN
BEEN
WRITTEN, AND ARE
WRITTEN, AND ARE TO TO BE
BEINTERPRETED
INTERPRETED AND
AND ENFORCED,
ENFORCED, FOR
F0fl. THE
THE SOLE
SOLE PURPOSE
PURPQSE OFOF
ENHANCING AND MAINTAINING THE ENJOYMENT
ENHANCING AND ENJOYMENT OF THE CONDOMINIUM PROPERTY
PROPERTY AND THE
VALUE THEREOF;
THEREOF;

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 (b)
(b) THE ASSOCIATION
ASSOCIATION IS NOT
NOT EMPOWERED, AND HAS
EMPOWERED, AND HAS NOT
NOT BEEN
BEEN CREATED,
CREATED, TO
ACT AS
AS AN
AN ENTITY
ENTITY WHICH
WHICH ENFORCES
ENFORCES OROR ENSURES
ENSURI;S THE COMPLIANCE
COMPLIANCE WITH
WITH THE
THE LAWS
LAWS OF
OF
THE UNITED
UNITED STATES, STATE
STATE OF
OF FLORIDA,
FLORIDA, PINELLAS
PINELLAS COUNTY,
COUNTY, THE
THE CITY
CITY OF
OF ST.
ST. PETERSBURG
PETERSBURG
AND/OR ANY OTHER
OTHER JURISDICTION OR
OR THE PREVENTION OF TORTIOUS
PREVENTION OF TORTIOUS ACTIVITIES;
ACTIVITIES; AND
AND

(c)
(e) ANY PROVISIONS
PROVISIONS OF
OF THE
THE ASSOCIATION
ASSOCIATION DOCUMENTS
DOCUMENTS SETTING
SETTING FORTH
FORTH THE
THE
USES OF ASSESSMENTS
USES OF WHICH RELATE
ASSESSMENTS WHICH RELATE TOTO HEALTH,
HEALTH, SAFETY
SAFETY AND/OR
AND/OR WELFARE
WELFARE SHALL
SHALL BE
INTERPRETED
INTERPRETED ANDAND APPLIED
APPLIED ONLY AS LIMITATIONS
LIMITATIONS ON
ON THE USES
USES OF
OF ASSESSMENT
ASSESSMENT FUNDS
FUNDS
AND NOT
AND NOT ASAS CREATING
CREATING AA DUTY
DUTYOF
OFTHE
THEASSOCIATION
ASSOCIATION TO
TOPROTECT
PROTECT OR
ORFURTHER
FURTHER THE
THE
HEALTH, SAFETY
HEALTH, SAFETY OR
OR WELFARE
WELFARE OF ANYANY PERSON(S),
PERSON(S), EVEN
EVEN IF
IF ASSESSMENT
ASSESSMENT FUNDS ARE
FUNDS ARE
CHOSEN TO BE USED FOR ANY
CHOSEN ANY SUCH
SUCH REASON.
REASON.

EACH UNIT OWNER (BY VIRTUE OF HIS ACCEPTANCE OF TITLE

TITLE TO HIS UNIT)
UNIT) AND EACH
OTHER PERSON HAVING
OTHER PERSON HAVING AN
AN INTEREST IN OR LIEN
INTEREST IN LIEN UPON,
UPON, OR
OR MAKING.
MAKING. ANY USE
USE OF,
OF, ANY
ANY
PORTION OF
PORTION OF THE CONDOMINIUM
CONDOMINIUM PROPERTY VIRTUE OF ACCEPTING SUCH
PROPERTY (BY VIRTUE SUCH INTEREST
INTEREST OR
OR
LIEN OR MAKING SUCH
SUCH USES)
USES) SHALL BE BOUND THIS PROVISION
BOUND BY THIS PROVISION AND
AND SHALL
SHALL BEBE DEEMED
DEEMED
TO HAVE
HAVE AUTOMATICALLY
AUTOMATICALLY WAIVED
WAIVED ANY
ANY AND
AND ALL
ALL RIGHTS,
RIGHTS, CLAIMS,
CLAIMS, DEMANDS
DEMANDS AND AND CAUSES
CAUSES
OF .ACTION
OF .ACTION AGAINST
AGAINST THE
THE ASSOCIATION
ASSOCIATION ARISING
ARISING FROM
FROM OR CONNECTED
CONNECTED WITH ANY MATTER
MATTER
WHICH THE
FOR WHICH THE LIABILITY
LIABILITY OF
OF THE ASSOCIATION
ASSOCIATION HAS BEEN DISCLAIMED
DISCLAIMED IN
IN THIS
THIS PROVISION.
PROVISION.

AS USED
AS IN THIS
USED IN THIS SECTION,
SECTION, "ASSOCIATION" SHALL INCLUDE
INCLUDE WITHIN
WITHIN ITS
ITS MEANING
MEANING ALL
ALL
OF
OF THE
THE ASSOCIATION'S
ASSOCIATION'S DIRECTORS,
DIRECTORS, OFFICERS,
OFFICERS, COMMITTEE
COMMITTEE AND
AND BOARD
BOARD MEMBERS,
MEMBERS,
EMPLOYEES, AGENTS, CONTRACTORS (INCLUDING MANAGEMENT COMPANIES),
SUBCONTRACTORS, SUCCESSORS AND
SUBCONTRACTORS, SUCCESSORS AND ASSIGNS.
ASSIGNS.THE
THE PROVISIONS
PROVISIONSOF OFTHIS
THISARTICLE
ARTICLE SHALL
SHALL
ALSO INURE
INURE TO THE
THE BENEFIT
BENEFIT OF
OF THE
THE DEVELOPER AND ITS
DEVELOPER AND ITS AFFILIATES, WHICH SHALL
AFFILIATES, WHICH SHALL BE
FULLY PROTECTED HEREBY.

11.4 Restraint Upon

Restraint Upon Assignment
Assiqnment of
of Shares
Shares inin Assets.
Assets. The share of
of a Unit
Unit Owner in the
the funds
funds
and assets
and assets of the Association
Association cannot be assigned,
assigned, hypothecated transferred in
hypothecated or transferred in any
any manner except as
an appurtenance to such
appurtenance to such Owner's
Owner's Unit.
Unit

11.5 Approval
Approval or Disajproval
Disapproval of of Matters,
Matters. Whenever
Whenever the the decision
decision of
of aa Unit
Unit Owner
Owner is required
required
upon any matter,
matter, whether or not
not the
the subject
subject of an Association
of an Association meeting,
meeting, that
that decision
decision shall
shall be
be expressed
expressed
by the same person
person who
who would
would cast the vote
vote for that Unit
Unit ifif at
at an
an Association
Association meeting,
meeting, unless
unless the
the joiner
joiner of
of
record Owners of the Unit is specifically required by this Declaration
all record Deciaration or by law.

11.6
11.6 Acts of the Association.
Acts Association. Unless
Unless thethe approval
approval or
or action
action ofof Unit
Unit Owners
Owners andfor
and/or aa certain
certain
specific
specific percentage
percentage of of the
the Board of Directors
Directors isis specifically
specifically required
reqUired in this
this Declaration,
Declaration, the Articles
Articles ofof
Incorporation,the
Incorporation, the By-Laws,
By-Laws, applicable
applicablerules
rulesandand regulations
regulationsofof the
the Association
Association or
or applicable
applicable law,
law, all
all
approvals or actions required or permitted
permitted to be be given
given or
or taken
taken by
by the
the Association
Association shall
shall be
be given
given or
ortaken
taken
by the Board
Board of Directors
Directors without the consent
consent of UnitUnit Owners,
Owners, andand the Board
Board may
may so
so approve
approve andand act
act
through the proper officers of the Association without a specific resolution.
resolution.. When an approvai
approval or action of
the Association
Association is permitted
permitted to be
be given
given oror taken
taken hereunder
hereunder oror thereunder,
thereunder, such
such action
action or
or approval
approval may may
conditioned in
be conditioned in any
any manner
manher the
the Association
Association deems
deems appropriate
appropriate oror the
the Association
Association may
may refuse
refuse to
to take
take or
or
give such action or approval
approval without
without the
the necessity
necessity of of establishing
establishing the
the reasonableness
reasonableness of of such
such conditions
conditions
or
or refusal.
refusal.

11.7
11.7 Amendment of By-Laws.
By-Laws. No Nomodification
modification of
of or
oramendment
amendment to to the
the By-Laws
By-Laws shall
shallbebevalid
valid
unless set forth
unless set forth in
in or
or annexed
annexed to
to aa dUly
duly recorded
recorded amendment
amendmenttotothis thisDecl,aration.
Deciration.. The By-Laws may may bebe
amended
amended in in the
the manner provided
prOVided for therein,
therein, but no amendment
amendment to to the
the By-Laws shall be adopted which
By-Laws shall
would affect
would affect or impair the validity oror priority
priority of
of any
any mortgage
mortgage covering
covering any Condominium Parcel(s), or
Condominium Parcel(s), or
which would
which would change
change thethe provisions
provisions of the
the By-Laws
By-Laws with
with respect
respect to institutional
institutional mortgages without the
mortgages without
written approval of all Institutional First Mortgagees of record.
record. NoNo amendment
amendment shall shall change
change the
the rights
rights and
and
17
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 (

privileges of the
privileges of the Developer without its
Developer without its written
written consent.,
consent. AnyAny amendment
amendment to the the By-Laws,
By-Laws, as
as provided
provided
herein,
herein, shall be executed by the
the parties
parties as
as required
required in
in this Section
Section 11
11 and
and in
in Section
Section 66above,
above, and
and said
said
in the
amendment shall be recorded in the public
public records
records of
of the
the County.
County.

11.8
11.8 Bindinq Effect
Binding Effect ofof Condominium
Condominium Documents. Every Owner,
Documents. Every Owner, whether
whether having
having acquired
acquired
ownership of
ownership of aa Unit by gift, conveyance
conveyance oror transfer
transfer by
by operation
operation of
of law,
law, or otherwise,shall
otherwise, shall bebe bound
bound by
by
the Articles
Articles of Incorporation, the By-Laws,
Incorporation, the and the
By-Laws, and the provisions
provisions of
of this
this Declaration.
Declaration. Membership
Membership in the
the
Association shall
Association shall automatically
automatically terminate
terminate upon
upon the termination
termination of ownership
ownership of of aa Condominium
Condominium Parcel,
Parcel,
and the subsequent Owner{s)
Owner(s) taking title shall
shall automatically
sutomatically become
become entitled
entitled to
to membership.
membership.

Section 12: Manaqement Aqreement

Management Agreement

The Association shall be the entity responsible

responsible for the
the management and and operation
operation of
of the
the
Condominium.
Condominium. The The Association
Association has
has the
the power,
power, but
but not
not the
the duty,
duty, to enter
enter into a management
management agreement
with a third party for the management
management in in operation
operation of the Condominium.
ofthe Condominium.

Section 13: Common Expenses and Common Surplus and

and Special Assessments
Assessments

13.1 Common
Common Expenses
Expenses andand Common
Common Surplus. Common Expenses
Surplus. Common Expenses include
include the
the
expenses of the operation,
expenses operation, maintenance,
maintenance, repair or replacement of the Common Elements, utilities for the
entire
entire Condominium, costs of
Condominium, costs of carrying
carrying out
out the
the powers and duties
powers and duties of the the Association and any
Association and any other
expense
expense designated
designated as Common
Common Expenses
Expenses by this Declaration, the the documents
documents creating
creating the
Condominium, or
Condominium, or the
the By-Laws.
By-Laws. Funds
Funds for
for the
the payment
payment of
of Common
Common Expenses shall be assessed against against
Owners in
Unit Owners in the
the proportions or percentages provided in
percentages provided in Exhibit
Exhibit "B"
"B" to
to the
the Declaration.
Declaration. AAUnit
UnitOwner's
Owner's
share of Common
share Common Expenses
Expense's shall the same
shall be in the same proportion
proportion as his
his ownership
ownership interest
interest in the
the Common
Common
Elements. Common
Common Surplus is ownedowned by Unit Owners in the same shares as their their ownership
ownership interest
interest in
in
the Common Elements.

13.2 Special.Assessments. The

Special.Assessments. The Board
Board of
of Directors
Directors may
may levy
levy "Special
"Special Assessments,"
Assessments,"
which
which are
are any
any assessments levied against
assessments levied against aa Unit
Unit Owner
Owner and
and such
such Owner's
Owner's Unit,
Unit, other
other than
than the
the
assessment required
assessment required by
by the
the annual
annual budget.
budget. Special Assessments
Special Assessmentsmay
maybe
be levied
levied by
by the
the Board
Board of
Directors and shall be payable in
in lump
lump sums
sums or
or installments,
installments, in
in the
the discretion
discretion of
ofthe
theBoard.
Board.

Section 14: Collection of Assessments

14: Collection

The General
General Assessments
Assessments and Special
Special Assessments
Assessments (collectively,
(collectively, the "Assessments") shall be
"Assessments") shall be
collected as follows: '

14.1 Liability for

Liability for Assessments.
Assessments. AA Unit
Unit Owner,
Owner, regardless
regardless ofof how
how title isis acquired,
acquired, including by
purchase at a judicial sale or by deed in lieu of foreclosure,
foreclosure, shall be liable for all Assessments coming due
such person
while such person (as defined by Sebtion 1.01(3),
Section 1.01 Florida Statutes)
(3), Florida Statutes) is
is the
the Owner
Owner of of the
the Unit.
Unit. Additionally,
a Unit Owner shall be jointly and severally liable with
with the
the previous
preVious owner
owner for for all
all unpaid
unpaid Assessments
Assessments that
that
came due
came due up to the time of the conveyance,
conveyance, without prejudice to to any right
right such
such Unit Owner may have to
recover
recover from
from the
the previous
previous owner
owner the
the amounts
amounts paid
paid by
by such
such Unit
Unit Owner.
Owner. 'The liability for
The liability for Assessments
Assessments
may not be
be avoided
avoided by waiver of the use or enjoyment of any Common
Common Elements or by the abandonment
of the Unit for which the Assessments are made or otherwise.
otherwise·..

14.2
14.2 Default
Default in Payment
Payment of of Assessments.
Assessments. Assessments
Assessments and installments
installments on them
them not
not paid
paid
when due bear interest from the date when due until paid at the maximum maximUm interest rate permitted by law,
and at the
and the sole
sole discretion
discretion of
of the.
the Board
Board of Administration,
Administration, aa late
late charge
charge not
not to exceed
exceed the greater
greater of
of
Twenty Five dollars
Twenty Five dollars ($25.00)
($25.00) or or five
five (5%)
(5%) percent
percent ofof each
each installment
installment of the
the Assessment
Assessment for
for each
each
installment that
delinquent installment that the
the payment
payment isis late
late shall
shallbe
bedue
due and
andpayable,
payable.

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 As an additional right
an additional right and
and remedy
remedy ofof the
the Association,
Association, upon
upon default
default inin the
the payment
payment of of
Assessments
Assessments as as aforesaid
aforesaid andand after
after 30
30 days'
days' prior
prior written
written notice
notice to
to the
the applicable Unit Owner
applicable Unit Owner andand the
the
recording of
recording of aa claim
claim of
of lien,
lien, the
the Association
Association may
may declare
declarethethebalance
balanceof of Assessment
Assessment installments
installments due
due for
for
the remainder
remainder of thethe fiscal
fiscal year
year and
and payments
payments of
ofother
other known
known Assessments
Assessments to to be
be accelerated
accelerated and
and shall
shall
thereupon
thereupon be be immediately
immediately due due and payable. In
and payable. In the
the event
event that
that the
the amount
amount ofofsuchsuchaccelerated
accelerated
installments
installments or payments changes, the Unit Owner
payments changes, Owner or the Association,
Association, as appropriate,
appropriate, shall be obligated
to pay
payoror reimburse to the other the amount of increase or decrease within within 10 days of same taking effect.
same taking effect.

Any payments
payments received
received by the Association from a delinquent Unit Owner shall
Association from shall be applied first to
any interest
interest accrued as provided
accrued as above, then
provided above, then toto any
any administrative late fee,
administrative late fee, then
then to
to any
any. costs
costs and
and
reasonable attorneys' fees
reasonable attorneys' fees incurred
incurred in collection as
in collection as aforesaid
aforesaid and
and then
then toto the
the delinquent
delinquent and
and any
any
accelerated Assessments. The
accelerated Assessments. The foregoing
foregoing application
application of funds
funds received
received shall
shall be
be applicable
applicable despite
despite any
any
restrictive endorsement, designation or
or instruction
instruction placed on
on or accompanying a payment.
payment.

14.3
14.3 Notice of Intention
Notice Intention to to Foreclose
Foreclose Lien.
Lien. Unless
Unless otheEwise requiredby
otherwise required by the
the Act
Act or other
other
applicable law,
applicable law, nono foreclosure
foreclosure jUdgment
judgment may may bebe entered
entered until
until the
the recording
recording of of aa claim
claim of
of lien
lien and
and at at least
30 days' written
written notice to the Unit Unit Owner
Owner ofof the
the Association's
Association's intention to foreclose foreclose its lien
lien to collect
collect thethe
unpaid Assessments.
unpaid Assessments. IfIf thisthis notice
notice isis not
not given
given at least 30 days days before
before the
the foreclosure
foreclosure action
action is is filed,
filed, and
and
if the unpaid Assessments, including
unpaid Assessments, including those
those coming
coming duedue after
after the
the claim
claim of
of lien
lien isis recorded,
recorded, are are paid
paid before
before
the entry of aa final
final judgment
judgment of of foreclosure,
foreclosure, the
the Association
Associationshall shallnot notrecover
recoverattorneys'
attorneys'fees
feesororcosts.
costs. The The
notice must be be given
given byby delivery
delivery ofof a copy
copy of it to the Unit Owner or or by
by certified
certified or registered mail, return
registered mail, return
receipt requested,
receipt requested, addressed
addressedtotothe the Unit
Unit Owner
Owner at at the
the last
last known
known address,
address, and and upon
upon such
such mailing,
mailing, the the
notice shall
notice shall be
be deemed
deemed to to have
have been given. If after diligent search search and inquiry
inquiry the
the Association
Association cannot cannot
find the Unit Owner or a mailingmailing address at which which the Unit Owner will will receive
receive the the notice,
notice, thethe court may
proceed with
proceed with the
the foreclosure
foreclosure action
action and
and may
may award
award attorneys'
attorneys' feesfees and
and costs
costs as as permitted
permitted by by law.
law. The.The
notice requirements
requirements of this this subsection
subsection are are satisfied the Unit Owner
satisfied if the Owner records
records a Notice of Contest of Lien Lien
as provided in thethe Act.
Act.

14.4 Appointment of Receiver

Receiver to to Coliect Rental. If the Unit
Coliect Rental. Unit Owner
Owner remains
remains in
in possession
possession of of
the Unit after
after aa foreclosUre judgment has been entered,
foreclosure jUdgment entered, the court in in its
its discretion.
discretion may require the the Unit
Unit
Owner to pay a reasonable rentalrental for
for the
the Unit, the Unit
Unit. If the Unit is
is rented
rented or leased
leased during
during the
the pendency.of the
foreclosure action,
foreclosure action, the
the Association
Association isis entitled
entitled to
to the
the appointment
appointment of of a receiver
receiver to collect
collect .the
the rent,
rent, the
ei<penses
expenses of such
such receiver to to be
be paid by the party which
which does
does notnot prevail
prevail inin the
the foreclosure
foreclosure action.

14.5 Mortgagee. In
Institutional First Mortqaqee.
Institutional In the
the event
event an
an Institutional
Institutional First
First Mortgagee
Mortgagee or or other
other
purchaser shall obtain
purchaser shall obtain title
title to
to a Unit byby foreclosure,
foreclosure, or by deed in lieulieu of
of foreclosure,
foreclosure, such
such Institutional
Institutional
Mortgagee or
First Mortgagee or other
other purchaser,
purchaser, its
its successors
successors andand assigns,
assigns, shall
shall be
be liable
liable for Assessments
Assessments or other
related ei<penses
related expenses authorized
authorized under the Act secured secured by the
the claim extent provided
claim of lien only to the extent provided by by the
the
Act. If,
If, due to the
due to the applicable prOVisions
provisions of the Act, any unpaid share of the Assessments or other other related
related
expenseS
expenses authorized
authorized under
under the the Act are.
are not required to
not required to be
be paid,
paid, then
then such unpaid share share or other
other related
related
expenses authorized
expenses authorized under
under the the Act
Act shall
shall be deemed
deemed to to be
be a Common
Common Expense collectible from
Expense collectible from all of the
Unit Owners,
Owners, inclUding
including such
such acquirer and such acquirer's successors and assigns.

14.6 Certificate of Unpaid

Certificate of Unpaid Assessments.
Assessments. Within
Within 1515 days after
after request
request by .a Unit
by.a Unit Owner or
mortgagee of
mortgagee of a Unit,
Unit, the Association shall provide
provide aa certificate stating all Assessments
Assessments and
and other
othermonies
monies
owed to the Association by
the Association by the
the Unit
Unit Owner
Owner With
with respect
respect to
tosuch
suchOwner's
Owners Unit.
Unit. Any
Any person
person other
otherthan
than the
the
such certificate
Unit Owner who relies upon such certificate shalt be protected
shall be protected thereby.
thereby.

14.7
14,7 Installments. General
Installments. General Assessments
Assessments shall
shall Qe
be collected
collected monthly
mo,nthly or quarterly,
quarterly, in advance,
advance,
as determined
as from time
determined from time to
to time
time by
by the
the Board
Board of
of Directors. Initially, General
Directors. Initially, Assessments will
General Assessments will be
be
collected monthly. . .

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 (

14.8
14.8 Developer's Guarantee. If,If, ininthe
the purchase
purchase agreement
agreementor orbybyother
othermeans
meanspursuant
pursuant toto the
the
Act,. Developer shall
Act, .Developer shaHguarantee
guaranteeto
to each
each purchaser
purchaser that that the
the Assessment for aa specific
specific period
period of
oftime will.
timewill.
not exceed
exceed a certain
certain dollar amount,
amount, then
then thethe Developer shall only
Developer shall only be
be obligated
obligated to
to pay thethe amount
amount of
Common
Common Expenses incurred during
Expenses incurred during that
that period
period and not not produced
produced byby the
the Assessments
Assessments received
received from
from
other Unit Owners.

14.9
14.9 Assessments. When
Liability For Assessments. When anan Owner
Owner who is is leasing
leasing his
his or
orherherUnit
Unit fails
fails to
to pay
pay any
any
Regular
RegUlar Assessment or or other
other Assessment
Assessment or or any
any other
other charge
charge to to be
be paid
paid by
bythe
theOwner
Ownertotothe
the Association
Association
pursuant
pursuant toto this
this Declaration
Declaration forfor aa period
period of more than thirty
more than thirty (30)
(30) days
days after it is is due
due and
and payable,
payabie, the
Association shall
Association shall file
file a claim
claim of lien
lien against a unit
unit prior
prior to
to bringing
bringing aa Foreclosure
Foreclosure action and request
action and request aa
Receivership to
Receivership to collect
collect the
the rents and hold them
rents and them pending
pending thethe outcome
outcome of the Foreplosure.
Foreclosure. ThisThis provision
prOVision
shall not be construed to release the Owner Owner from any
any obligation,
obligation, including
inclUding the
the obligation
obligation for
for Assessments,
Assessments,
he or
for which he or she
she would
would otherwise
otherwise be
be responsible.
responsible.

Section 15: Insurance

Insurance covering the Condominium Property and the Association Property

Property shall
shall be
be governed
governed by
by
the following provisions:

15.1 Trustee". The

"Insurance Trustee". The Board
Board of
of Directors
Directors of
of the
the Association shall
shall have
have the option in its
discretion of appointing
appointing an Insurance
Insurance Trustee hereund€r. If the Association
Trustee hereunder. Association fails or elects
elects not to appoint
such
such Insurance Trustee, the Board
Insurance Trustee, Board of Directors
Directors will perform
perform directly
directly all
all obligations
obligations imposed
imposed upon such
such
insurance Trustee
Insurance Trustee by
by this Declaration. Fees
this Declaration. Fees and expenses
expenses ofof any
any Insurance
Insurance Trustee
Trustee are
are Common
Common
Expenses.

15.2 and Payment.

Purchase, Custody and Payment.

(a) Purchase. All

Purchase. All insurance
insurance policies
policies purchased
purchased by
by the
the Association
Association shall
shall be issued
issued by
by
an
an insurance company
company authorized
authorized to
to do business in Florida
business in meeting all criteria established
Florida meeting established byby the Board
or the Act and any rules promulgated
promuigated thereunder.
thereunder.

(b) Named Insured.

Named Insured. Under
Under allall insurance
insurance policie
policies purchased by the Association,
Association, the
the
named insured
narned insured shall
shall be
be the Association, individually, and
Association, individually, and as
as agent
agent for
for Owners
Owners of Units covered
covered by the
policy,
policy, without
without naming them, and
naming them, and as
as agent
agent for
for their
their mortgagees,
mortgagees, without
without naming
naming them.
them. The Unit Owners
and their
their mortgage4es shall be
mortgagE\es shall be deemed
deemed additional insureds.
insureds. .

(c) Custody of Policies and

and Payment Proceeds. All
Payment of Proceeds. All insurance
insurance policies
policies purchased
purchased
by
by the
the Association shall provide
Association shall provide that
that payments
payments for
for losses
losses made
made by
by the
the insurer
insurer shall
shall be
be paid
paid to the
the
Trustee, and
Insurance Trustee, and copies
copies of such
such policies
policies and
and endorsements
endorsements thereto
thereto shall
shall be
be given
given to
to the
the Insurance
insurance
Trustee.

(d) Copies to
Copies to Mortqaqees.
Mortgagees. One One copy
copy .ofof each
each insurance
insurance policy,
policy, oror a certificate
certificate
evidencing
evidencing such
such policy,
policy, and all endorsements thereto,
thereto, shall
shall be
be furnished
furnished by the Association
Association uponupon request
request
to each Institutional
institutional First Mortgagee who holds a mortgage upon a Unit covered by policy. Copies or
by the policy.
certificates shall
certificates shall be
be furnished
furnished not
not less
less than
than 10
10 days
days prior
prior to
to the
the beginning
beginningof of the
the term
term of
of the
thepolicy,
policy, or
or not
not
less than
less than 10 days prior to the the expiration
expiration of.each
of each preceding
preceding policy
policy that
that is
is being
being renewed
renewed or or replaced,
replaced, asas
appropriate.
appropriate

(e) Exceptions fr.om

Exceptions from Association
Association Responsibility;
Responsibility; Unit
Unit. Owner's
Owner's Personal
Personal Coveraqe.
Coverage.
Except as
Except as specifically
specifically provided
providedherein
hereinor
or by
by the
the Act,
Act, the
the Association
Association shall
shall not
not be
be responsible
responsible toto Unit
Unit
Owners to obtain
Owners obtain insurance coverage
coverage upon
upon any
any and all property lying
lying within the boundaries
boundaries of their Unit,
Unit,
including, but not limited to, their personal property, and for their personal
including, personai liability and
and living
living expense
expense and
and
for any
any other risks not otherwise insured in accordance herewith.
\ 20
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 Unit Owners
Unit Owners may
may be required
required to
to purchase
purchase flood
flood insurance
insurance for their
their respective
respective Unit(s)
Unit(s) ifif such
such
insurance is required by their mortgagee(s) for interior improvements.
ovements.

The
The Association shall have
Association shall have no
no obligation
obligation to
to purchase
purchase flood
flood insurance
insurance or
or fire
fire and
and casualty
casualty
insurance on the personal property
property within
within the
the Units.
Units.

In accordance with Section 3.3(c) herein,

herein, the Unit Owner shaltshall be solely responsible for insuring
insuring
any and
any and all
all equipment,
equipment, machinery,
machinery, fixtures,
fixtures, fumiture
furniture or
or the
the like
like installed
installed and/or
and/or placed
placed upon
upon or
or within
within the
the
Limited Common Elements appurtenant to such.
Limited Owner's Unit,
such Owner's Unit, as
as well
well as
as any
any other
other improvements
improvements located
located
within such Limited Common Elements.

Unless the Association elects otherwise, the insurance purchased by the Association shall not
cover claims against a Unit Owner due to accidents occurring within such Owner's Unit. It shall be the
obligation of the individual Unit Owner, if such Unit Owner so desires, to purchase.and pay for insurance
as to all such and other risks not covered by insurance carried by the Association.

15.3 Coveraqe Responsibilities of Association. The Association shall use its best efforts to
obtain and maintain adequate insurance covering the following:

(a) Csualty. Insurance covering loss or damage to the Common Elements and all
other portions of the Condominiun, Property which the Asàociation is responsible to maintain under the
terms of this Declaration, and all items for which the Association is required under applicable provisions of
the Act to insure against loss or damage by fire and against loss or damage by risks now or hereafter
embraced by standard extended coverage and vandalism and malicious mischief endorsements
(collectively, the "Insured Property"). Such policies may contain reasonable deductible provisions as
determined by the Board of Directors. Such coverage shall afford protection against such other risks as
from time to time are customarily covered with respect to buildings and improvements similar to the
Insured Property in construction, location and use, including, but not limited to, vandalism and malicious
mischief.

(b) Liability.
liability.· Comprehensive
Comprehensive general
general public
pUblic liability
liability and automobile liability insurance
insurance
covering loss
covering loss oror damage resulting from
damage resulting from accidents
accidents or or occurrences
occurrences on on oror about
about or in connection with the the
Insured Property or
Insured Property or adjoining
adjoining driveways
drivewaysandandwalkways,
walkways,oror any
any work,
work, matters
matters oror things
things related
related to
to the
insured Property,
Insured Property, withwith such
such coverage
coverageas as shall
shall be
be reqUired
required by
by the
the Board
Boardof of Directors,
Directors,but
butwith
'ith combined
combined
single limit liability of not
not less
less than
than $1,000,000.00
$1,000,000.00 per
per occurrence,
occurrence, andand with
with aa cross
cross liability
liability endorsement
endorsement
to cover liabilities of the Unit Owners as a group to any Unit Owner, and vice versa. -

(c) Worker's Compensation and other mandatory insurance, when applicable.

(d) Fidelity Insurance,

Fidelity Insurance, ifif reqUired
required by
by the
the Act or FNMA/FHLMC,
FNMNFHLMC, coveringcovering all persons
persons
who control or disburse Association funds, funds, such insurance to
such insurance to be in the amount required
required by law and
and must
must
cover the maximum
maximum funds funds that
that will
will be
be in the custody
custody of the association
association or or its
its management
management agentagent at any
one time.
time, As
As used
used inin this
thisparagraph,
paragraph, the the term
term "persons
"persons who
who control
control or
or disburse
disburse funds
funds of
of the
the association"
association"
includes, but
inclUdes, but is
is not limited
limited to, those
those individuals
individuals authorized
authorized to sign
sign checks
checks andand the
the president,
president, secretary,
secretary,
and treasurer of the association. The association shall bear the cost of bonding.

(e) Association
Association Property.
Property. Appropriate
Appropriate additional policy provisions,
additional policy policies or
prOVIsions, policies·
endorsements extendingthe
endorsements extending the applicable
applicable portions
portions of
of the
the coverage
coverage described
described above
above to all
all Association
Association
Property,
Property, where such coverage
coverage is
is available.
available. .;>

(f) Such Other Insurance

Insurance as
as the
the Board
Board of Directors
Directors shall
shall determine
determine from
from time
time to time
to be desirable.

21
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 ( (

When appropriate and obtainable, each of the foregoing policies shall waive the insurers insurer'sright
rightto:
to:
(i) subrogation against
(I) subrogation against thethe Association,
Association,its its officers,
officers, members
members of of the
the Board,
Board, thetheDeveloper,,
Developer, the the
Management Firm
Management Firm and
and its respective
respective employees
employees and and agents,
agents, andand against the Unit Unit Owners
Owners individually
individually
and as
and as a group;
group; (U) to pay
(Ii) to pay only
only aa fraction
fraction of any
any loss in the event
event of coinsurance
coinsurance or if other
other insurance
insurance

~
"" carriers have issued
issued coverage upon the same same risk;
risk; and
and (UI) avoid liability
(iii) avoid liability for
for a loss that is caused by an
;'1 act of the
act the Board
Board of of Directors,
Directors, aa member
member of of the
the Board
Board of ofDirectors,
Directors, thethe Management
Management Firm and its
Firm and its
'8~ respective employees and
respective employees and agents,
agents, the the Developer,
Developer, oneone or more
more Unit Owners
Owners or as a result of contractual
undertakings. Additionally, each policy
Additionally, each policy shall
shall provide
provide that
that any
any insurance
insurance trust
trust agreement
agreement will will be
be
1f.\'.1 recognized,
recognized, thatthat the
the insurance
insurance provided
providedshallshallnot
not be
be prejudiced
prejudicedby by any
any act
act or
or omissions
omissions of the the
~i~ Management Firm or the individual Unit Owners that are not under the controi control of the Association,
Association, and that
the policy
policy shall
shall be
be primary,
primary, even
even ifif aa Unit
Unit Owner
Owner has
has other
otherinsurance
insurance that
thatcovers
coversthethesame
sameloss.
loss.

1&%~ Every casualty

Every casualty insurance
insurance policy
policy obtained
obtained by
by the
the Association
Association shall
shall have
have the
the agreed
agreed amount
amount and
and
~~j inflation
inflation guard endorsement unless the Board
Board finds such
such endorsement
endorsement is
is unobtainable
unobtainable or
or economically
economically
infeasible.

It 15.4
be canceled
be canceled or substantially
Provisions. All policies
Additional Provisions.
modified without
sUbstantially modified
policies of
without at
of insurance
at least
insurance shall
least 30
shall provide
provide that
30 days' prior written
that such
such policies
written notice to all
policies may
all of
of the
may not
the named
not
named
insureds, including
insureds, all mortgagees
including all mortgagees of Units. Prior to
Units. Prior to obtaining, any policy
obtaining any policy of
of casualty
casualty insurance
insurance or any
~I renewal thereof,
renewal thereof, the Board of Directors may wish to obtain an appraisal from a fire insurance company, or
t\", other competent appraiser,
appraiser, of the full
full insurable
insurable replacement
replacement value of the the Insured
Insured Property
Property (exclusive
(exclusive of
foundations), without deduction
foundations), without deduction for depreciation,
depreciation, forfor the
the purpose
purpose of determining
determining the the amount
amount of insurance
insurance
to be effected pursuant
pursuant to
to this
this Section.
S'ection.

15.5 Premiums. Premiums

Premiums. Premiums upon
upon insurance
insurance policies
policies purchased
purchased by by the
the Association shall be
Association shall be
paid by the
paid the Association
.Association as aa Common xpense, except
Common Expense, except that
that the
the costs
costs of
of fidelity
fidelity honding
Donding for
for the
the
ManagementFirm
Management Firm employees
employeesmay maybe
be paid
paid by
by the
the Management
Management Firm Firm pursuant
pursuanttoto thethe management
manaement
agreement. Premiums
Premiumsmaymaybe
befinanced
financedininsuch
suchmanner
mannerasasthe
the Board
Board of
ofDirectors
Directorsdeems
deemsappropriate.
appropriate.

15.6 Insurance Trustee;

Insurance Trustee Share
Share of of Proceeds.
Proceeds. All All insurance
insurance policies
policies obtained
obtained by by or
or on
on behalf
behalf ofof
the Association
Association shall be for for the
the benefit.of
benefit.ofthe the Association,,
Association, the Management
Management Firm, Firm, the Unit
Unit Owners
Owners andand
their mortgagees,
mortgagees, as their respective
respective interests
interests maymay appear,
appear, and and shall
shall provide
provide that
thatall
all proceeds
proceedscovering
covering
losses
losses to the Insured
Insured Property
Property shall be. paid to
be. paid to the Insurance Trustee,
Trustee, which
which may be designated
designated by the
Board
Board of Directors and which,
Directors and which, if so appointed,
appointed, shall
shall be
be a bank
bank oror trust
trust company
company in in Florida
Florida with
with trust
trust
powers, with
powers, with its
its principal
principal place
place ofof business
business inin the
the State
State ofof Florida.
Florida. The
The Insurance
Insurance Trustee shall not be
Trustee shall be
liable for
liable for payment
payment of of premiums,
premiums, nor nor for
for the
the renewal
renewal or or the
the sufficiency
sufficiency ofof policies,
policies, nor
nor for
for the
the failure
failure toto
collect any insurance
collect insurance proceeds.
proceeds. TheThe duty
duty of
of the
the Insurance
Insurance Trustee
Trustee shall
shall be
be to
to receive
receive such
such proceeds
proceeds as as
are paid and to holdhold the same
same in in trust for
for the
the purposes
purposes elsewhere
else*here stated
stated herein, and the benefit of the
and for the the
Unit Owners and
Unit·Owners and their respective
respective mortgagees
mortgagees in in the
the following
following shares,
shares, but
but shares
shares need
need not
not be
be set
set forth
forth on
on
the records ofof the Insurance
Insurance Trustee:
Trustee:

(a) Insured
Insured Prooerty.
Property. Proceeds
Proceeds on account of damage to the the Insured
Insured Property
Property shall
shall
be held
be held by the
the Associatio.n
Association forfor each
each Unit
Unit Owner
Owner as as tenants
tenants inin common
common on on the
the basis
basis of the
the fair market
market
value
value of each
each Unit,
Unit, relative
relative to the
the other
other'Units
Units in
in the
the Condominium, immediately prior
Condominium, immediately priortoto the
the event
event of
of
casualty (such fair market value shall be determined by an MAt-certified selected by
MAI-c:ertified appraiser selected by the Board
Board
of Directors
Directors in its
its sole
sole discretion);
discretion); provided,
provided, however,
however, thatthat prior
prior to
to any
any distributionâ
distributions to
to the
the Unit
UnitOwners,
Owners,
such proceeds shall first be distributed in accordance with thq the provisions of Section 15.7 herein.

(b) Mortciaqees. Nb mortgagee

Mortgagees. No mortgagee shall have any right tq, determine or
tq determine or participate
participate in
in the
determination as to
determination as to whether
whether or not
not any
any damaged
damaged property
property shall
shall be
be reconstructed
reconstructed or repaired,
repaired, and
and no
no
mortgagee shall
mortgagee shall have
have any
any right
right to
to' apply
apply or
or have
have applied to the
applied to the reduction
reduction of aa mortgage
mortgage debt
debt any
any
insurance proceeds,
insurance proceeds, except
except for
for actual
actual distributions
distributions thereof
thereof made
made to to the
the Unit
Unit Owner
Owner and
and mortgagee
mortgagee
to the provisions of this Declaration.
pursuant to
22
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 15.7
15.7 Distribution
Distribution of Proceeds. Proceeds of
Proceeds. Proceeds of insurance
insurance policies
poiicies received
received by by the
the Insurance
Insurance
ee shall be distributed to or for
Trustee for the
the benefit
benefit of
of the
the beneficial
beneficial owners
owners thereof
thereof in
in the
the following
following manner:
manner:

(a) Expenses of
Expenses of the
the Trust.
Trust. All
All expenses
expenses of the Insurance
Insurance Trustee shall be first paid
paid
or provision shall be made therefor.
.
(b) Reconstruction Repair. If the damaged
Reconstruction or Repair, property for which
damaged property which the proceeds
proceeds are
paid is to be repaired
paid repaired or reconstructed,
reconstructed, the remaining proceeds shall
remaining proceeds shall be
be paid
paid to
to defray
defray the
the cost
cost thereof
thereof as
as
elsewhere provided herein.
eisewhere provided Anyproceeds
herein, Any proceeds remaining
remaining after
after defraying
defraying such costs
costs shall
shall be
be distributed
distributed to
to
each Unit Owner,
each Owner, by check made
made payable
payable jointly to such
such Unit
Unit Owner
Owner andand its
its respective
respective mortgagee(s),
mortgagee(s),
based on the same percentages
percentages as
as their
their ownership
ownership ofofthe
the common
common elements.
elements.

(c) Failure
Failure to Reconstruct
Reconstruct or Repair. If itit is
or Repair, is determined
determined in in the
the manner
manner elsewhere
elsewhere
provided that
provided that the
the damaged property for
damaged property for which the proceeds
which the proceeds are are paid
paid shall
shall not be be reconstructed
reconstructed or
repaired, the remaining
repaired, remaining proceeds
proceeds shall be allocated amongamong the
the beneficial
beneficial owners as provided
provided in
in Section
Section
herein, and distributed to each Unit
15.6(a) herein, Unit Owner
Owner by
by check
check made
made payable
payable jointly
jointly to
to such
such Unit
Unit Owner
Owner and
and
its respective
respective mortgagee(s).
mortgagee(s). IfIf there
there is
is no
no mortgage
mortgage on the Unit,
Unit, all distributions
distributions shall
shall be
be made directly
directly to
to
Unit Owner.
the Unit Owner.

(d) Certificate. In making distributions

In making distributions to Unit Owners
to Unit Owners and their
their mortgagees,
mortgagees, the
Insurance Trustee
Insurance Trustee (if appointed)
appointed) may rely upon a certificate of the Association made by
by its
its President
President and
and
Secretary
Secretary as to the names
names ofof the
the Unit
Unit Owners
Owners and
and their
their mortgagees
mortgagees and their respective
respective shares of thethe
distribution.

15.8 Association as Agent.

Association as Aqent. TheThe Association
Association is
is hereby
hereby irrevocably
irrevocably appointed as agent and
appointed as and
attorney-in-fact for
attorney-in-fact for each
each Unit Owner and and for each
each owner
owner of a mortgage
mortgage or other lien upon upon a Unit and
and for
each owner ofof any
any other interest in the
interest in the Condominium
Condominium Property
Property to to adjust
adjust all
all claims
claims arising
arising under
underinsurance
insurance
policies purchased by the Association and to to execute and deliver
deiiver releases upon the payment of of claims.
claims.

15.9 Presumption
Presumption as to Damaqed
Damaged Property. In the
Property. In the event
event of a dispute or lack of certainty as to
whether damaged property constitutes
damaged property constitutes a Unit(s)
Unit(s) or Common Elements, such
Common Elements, such property
property shall
shall be
be presumed
presumed
to be Commdn
Common Elements.
Elements.

Section 16: Reconstruction or

or Repair
Repair After Fire or Other Casualty

16.1
16.1 Determination to
Determination to Reconstruct or Repair.
Repair. Subject
Subject to
to the
the immediately
immediately following
following subsection,
subsection,
in the event of damage
in damage to to or destruction
destruction of
of the
the Insured
Insured Property
Propertyas
a aa result
result of
offire
fire or
orother
othercasualty;
casualty, the
the
Board of Directors
Board shall arrange
Directors shall arrange for
for the prompt
prompt repair and restoration
repair and restoration ofof the
the Insured
Insured Property, and the
Property, and the
Insurance Trustee shall disburse the proceeds of all insurance policies to the contractors engaged in in such
such
restoration in appropriate progress payments.
repair and restoration

If 50% or more of the Insured

Insured Property
Property is is substantially
substantially damaged
damaged or or destroyed
destroyed andand ifif Unit
UnitOwners
Owners
owning 51%
owning 51 % Of the applicable
of the applicable interests
interests inin the
the Common
Common Elements
Elements duly
duly and
and promptly
promptly resolve
resolve not not to
to
proceed with
proceed with the repair
repair or
or restoration
restoration thereof
thereof and
and aaMajority
Majority ofofInstitUtional
Institutional First
First Mortgagees
Mortgageesapproveapprove
such resolution,
such the Condominium
resolution, the Property shall
Condominium Property shall not
not be
be repaired
repaired and
and the
the net proceeds
proceeds of insurance
insurance
resulting from
resulting from such
such damage
damage or or destruction shall be
destruction shall be distributed
distributed to to each
each Unit Owner,
Owner, byby check
check made
made
such Unit Owner and
payable to such and its respective mortgagee(s),
mortgagee(s), in in accordance
accordance withwith the
the provisions·
prov!sions of of Section
Section
herein. Following
15.6(a) herein. such distribution
Following such distribution of proceeds,
proceeds, thethe Condominium
Condominium shall shall be terminated and the
ownership
ownership of the the Condominium
Condominium Property
Property shall be be held
held by.
by. the formerly-titled
formerly-titied Unit Owners
Owners in undivided
undivided
as tenants-in-common, subject
interest as subject to
to and
and inin accordance
accordance with the provisions
provisions ofof Section
Section 21
21 hereof.
hereof.

Whenever
Whenever inin this
this Section
Section the
the words
words "promptly
"promptly repair"
repair" are
are used,
used, itit shall
shall mean
mean that
that repairs
repairs are
are to
to
begin
begin not more
more than
than 60 days from
from the
the date
date the
the Insurance
Insurance Trustee
Trustee (if appointed) notifies the
appointed) notifies the Board
Board of
of
, 23
.23
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 ( (

Directors and
and Unit Owners that it holds proceeds of insurance on account of such damage or destructiondestruction
pay the estimated
sufficient to pay estimated cost of such work,
work, or not more
more than
than 90
90 days
days after the
the Insurance
Insurance Trustee
Trustee (if
(if
appointed) notifies the
appointed) notifies the Board
Board of Directors and the
Directors and the Unit
Unit Owners
Owners that such
such proceeds
proceeds of insurance are
insurance are
insufficient to
insufficient to pay the estimated
estimated costs of such work. The The Insurance
Insurance Trustee
Trustee (if
(ifappointed)
appointed) may
may rely
rely upon
upon
a certificate
certificate of the
the Association
Association made
made byby its
its President
President and
and Secretary
Secretary·to
to determine
determine whether
whether or not
not the
the
damaged property is is to
to be
be reconstructed
reconstructed or
or repaired.
repaired.

16.2
16.2 Plans
Plans and
and Specifications.
Specifications. Any Any reconstruction
reconstruction or repair
repair must
must bebe made
made substantially
substantially. in
accordance with
accordance with the
the plans andand specifications
specifications for the the original
original improvements
improvements and the the then
then applicable
applicable
building and
building and other
other codes;
codes; or if not,
not, then inin accordance with the
accordance with the plans and
and specifications approved by
specifications approved by the
the
Board of Directors
Board and the
Directors and the then-applicable
then-applicable building
building and
and other
other codes.
codes. IfIfthe
the reconstruction
reconstruction ofof the
the property
property
cannot
cannot bebe made
made in in substantially
substantially in in conformity
conformity withwith the
the plans
plans and
and specifications
specifications forfor the
the original
original
improvements,
improvements, thanthan upon
upon the
the vote
vote of the
the Board
Board ofof Directors
Directors that
that substantial
substantial compliance
compliance withwith the
the plans
plans
cannot be
cannot be followed,
followed, than thethe condominium
condominium shall shall be
be considered
considered terminated,
terminated, andand. the
the provisions
provisions ofof this
this
Declaration relating to termination shall
shall bebe followed.
followed.

16.3 Disbursement, The

Disbursement. The proceeds
proceeds of
of insurance
insurance collected
collected on account
account of aa casualty,
casualty, and
and the
the
sums collected from Unit
Unit Owners
Owners on
on account
account of
of such
such casualty,
casualty, shall
shall constitute
constitute aa construction
construction fund
fund which
which
shall be disbursed in payment of the costs of reconstruction
reconstruction and repair inin the
the following
following manner andand order:
order:

(a) Association - Lesser

Association Damage. If the
Lesser Damage. the amount
amount of of the
the estimated
estimated costs
costs of of
reconstruction and
reconstruction and repair
repair which
which are
are the
the responsibility of the
responsibility of the Association
Association isis less
less than
than $100000.00,
$100,000.00, then then
the construction fund shall
construction fund shall be
be disbursed
disbursed in in payment
payment of of such
such costs
costs upon
upon thethe order
order of
of the Board
Board of of
Directors; prOVided,
Directors; provided, however,
however, that
that upon
upon request
request to
to the
the Insurance
Insurance Trustee
Trustee (if appointed)
appointed) byby an
an Institutional
Institutional
First Mortgagee
first which is
Mortgagee which is a
a.beneficiary
beneficiary of an
an insurance policy the
insurance policy, the proceeds
proceeds of of which
which are
are included
included inin the
the
construction
construction fund,
fund, such fund shall be disbursed
such fund disbursed in the manner provided below for the reconstruction
reconstruction and
repair of major damage. . .. .

(b) Association - Maior

Major Damaqe.
Damage. If the
the amount
amount of of the
the estimated
estimated costs
costs of
reconstruction
reconstruction and repair which are
are the
the responsibility
responsibility of
of the
the Association
Association isis more
more than
than $100,000.00,
$100,000.00, then
then
the construction fund shall
construction fund shall be disbursed
disbursed in payment
payment of such such costs
costs inin the
themanner
mannercontemplated
contemplated byby
subsection (a) above,
subsection (a) above; but then
then only
oniy upon
upon the
the further
further approval
approval ofof an
an architect
architect 'or
or engineer
engineer qualified
qualified to
practice in Florida and employed by the Association to t? supervise the work,
work.

(c) Unit Owners. If there

there is'a
is' a balance
balance of
of insurance
insurance proceeds
proceeds after payment
payment of all
costs of reconstruction
costs and repair
reconstruction and repair that
that are
are the
the responsibility of the
responsibility of Association this
the Association, this balance
balance shall
shall be
be
distributed to
distributed to each
each Unit
Unit Owner,
Owner, by check made payable jointly to such
payable jointly such Unit
Unit Owner
Owner and its
its respective
respective
mortgagee(s), provisions of
mortgagee(s), in accordance with the provisions of Section
Section 15.6(a)
19.6(a) herein.
herein.

(d) Certificate. Notwithstanding

NotWithstanding the provisions
provisions herein,
herein, the
the Insurance
InsuranceTrustee,
Trustee shall
shall .
not be required
required to
to determine
determine whether
whether or notnot sums
sums paid
paid by
byUnit
UnitOwners
Owners upon
upon Assessments
Assessments shall
shall be
be
deposited
deposited by the
the Association
Association with
with the
the Insurance
Insurance Trustee,
Trustee, nor
nor to
todetermine
determine whether
whetherthe
thedisbursements
disbursements
from the
the construdtion
construction fund are to be be made
made upon
upon the order of
the order the Association
ofthe Association alone
alone or
or upon
upon the
the additional
additional
approval
approval of an architect,
architect, engineer
engineer or otherwise,
otherwise, nor whether
whether a disbursement
disbursement is is to
to be
be made
made fromfrom the
the
construction fund, nor
construction fund, nor to
to determine
determine whether surplus funds
Whether surplUS funds to
to be
be·'distributed
distributed are are less
less than
than the
the
Assessments paid
Assessments paid by
by Unit
Unit Owners,. nor toto determine
Owners, nor determinethe the payees
payees nor
nor the
the amounts
amounts to to be
be paid. The
the Association, made
Insurance Trustee may rely upon a certificate of theAssociation, made byby its
its President
President and
and Secretary,
Secretary, asas
to any or all
all of
of such
such matters
matters and
and stating
stating that
that the
the sums
sums toto be
be paid
paid are
are due
due and and properly
properly payable,
payabie, and
and
stating the
the names of the the payees
payees and
and the
the amounts
afflounts toto be
be paiq.
pak. .

'>
16.4 Assessments. If the proceeds of the insurance are not sufficient to defray the estimated estimated
of reconstruction
costs of reconstruction and
and repair
repair to
to be
be effected
effected by
by the
the AssOciation,
Association, or ifif at any
any time
time during
during reconstruction
reconstruction
and
and repair,
repair, or upon
upon completion
completion of reconstruction and repair,
reconstruction and repair, the
the funds
funds for
for the
the payment
payment ofof the
the costs
costs of
24
F:\Documents\Louis\condo\Wave\Declaration.doc
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 reconstruction and repair are
reconstruction and are insufficient,
insufficient, Assessments
Assessments shall
shali be
be levied
levied against
againstthe
theUnitS
Unit Owners
Owners in in
sufficient amounts to
sufficient amounts to provide
provide funds
funds for
for the
the payment
payment ofof such
such costs.
costs, Such
Such Assessments
Assessments on account
account of
damage
damage to to the
the Insured
Insured Property
Property shall
shali be inin proportion to all
proportion to ali of
of the
the Owners'
Owners' respective
respective shares
shares in
in the
the
determined by
Common Elements, as determined by the
the Association.
Association.

16.5
16.5 Responsibilities of Unit
Responsibilities Owners. If damage
Unit Owners. damage occurs to the the Units,
Units, the
the maintenance
maintenance andand
responsibility
responsibility of which lies
lies solely
solely .upon
upon the respective
respective Unit Owners,
Owners, then
then each
each Unit
UnitOwner
OwnershaH
shali be
be solely
solely
responsible for
responsible for ali
all necessary
necessary reconstruction
reconstruction andand repair to its
its respective
respective Unit
Unitwhich
which reconstruction
reconstruction and
and
repair shali
shall be effected promptly and in in accordance
accordance with guidelines established
established by by the
the Board
Board of
of Directors.
Directors.
Each Unit Owner shali
Each shall have the absolute responsibility of applying
applying insurance proceeds,
proceeds, arising as a result
of flood,
flood, fire or
or other
other casualty
casualty damage
damage toto the
the Unit
Unit totothe
therepair
repairand/or
and/orreconstruction
reconstruction ofof such
such Unit;
Unit;
provided,
provided, however, that no Unit Unit Owner
Owner shall
shali have
have the
the responsibility
responsibility of
of applying
appiying insurance
insurance proceeds
proceeds toto the
the
repair and/or reconstruction
reconstruction of the respective Units if the Condominium is terminated terminated in accordance with
the provisions ofof Section
Section 2121 herein,
herein.

16.6
18.6 Benefit of
Benefit of Mortcaqees. Certain provisions
Mortoaoees. Certain in this
provIsions in this Section. are for
Section are for the
the benefit
benefit of
mortgagees of Units and may
may be
be enforced
enforced by
by any
any of
of them.
them.

Section 17: Condemnation

Any
Any condemnation
condemnation of any portion(s)
portion(s) of the
the Condominium
Condominium Property
Property shall
shali be
be governed
governed by
by the
the
foliowing
following provisions:

17.1
17.1 Deposit of Certain
Deposit Certain Condemnation
Condemnation Awards Awards with
with Insurance
Insurance Trustee.
Trustee. Condemnation
awards pertaining
awards pertainingtoto the
the taking
taking of
of Common Elementsshali
Common Elements shallbebe paid
paid over
over by
by each
each Unit
Unit Owner
Owner to
to the
the
Insurance
Insurance Trustee
Trustee for
for use as noted
noted hereinafter
hereinafter inin this
this Section, In the event the Unit Owner fails to turn
Section. In
over such
over such award
award as required,
required, the defaulting
defaulting Unit
Unit Owner
Owner shall
shali be
be charged
charged the
the maximum
maximum interest
interestwhich
which
does not
does not constitute
constitute usury
usury tinder
under Florida
Florida law
law until
until such
such amount is fUliy
fully paid.
paid.

Condemnation awards pertaining

Condemnation awards pertaining to
to the
the condemnation
condemnation of
of Units
Units shall
shall not be the property
property of
of the
the
Association.

17.2 Determination Whether

Determination Whether to to Continue
Continue Condominium.
Condominium. Whether
Whether the Condominium
Condominium will
will be
be
continued after
continued after condemnation
condemnationwili
will be
be determined
determinedininthe themanner
mannerprovided
providedforforinin Section
Section1616 herein
herein for
for
determining Whether
determining whether damaged
damaged property
property wili
will be reconstructed
reconstructed and
and repaired
repaired after
after casualty. For this
casualty. For this
purpose, the
purpose, the taking
taking by
by eminent
eminent domain
dbftjain also
also shali
shall be
be de!3med
demed to to be
be aacasualty.
casualty.

17.3 Disbursement Funds. IfIfthe

Disbursement of Funds. the Condominium
Condominium is terminated following aa condemnation,
terminated foliowing condemnation, the the
proceeds of
proceeds of the
the awards
awards pertaining
pertaining to to the condemnation
condemnation of of Common
Common Elements
Elements willwill be
be deemed
deemed to be be
insurance proceeds
insurance proceedsand and shali
shall be
be owned
owned andand distributed
distributed inin the
the manner
manner provided
provided withwith respect
respect to
to the
the
ownership
ownership andand distribution
distribution of insurance
insurance proceeds
proceeds ifif the
the Condominium
Condominium is is terminated
terminated after
after aa casuaity.
casualty. If the
the
Condominium terminated after condemnation,
Condominium is not terminated condemnation, the the size
size of the
the Condominium
Condominium wili will be
be reduced and the
property damaged
property damaged by the taking wIll will be made usable in the manner provided below. below. The proceeds
proceeds ofof any
any
such awards shali
such awards shall be
be used
used for
for these
these purposes
purposes and and shall
shali be
be disbursed
disbursed in in the
the manner
manner provided
provided for for
disbursementofof funds
disbursement funds byby the
the Insurance Trustee after
Insurance Trustee after aa casualty,
casualty, or or as
as elsewhere
elsewhere in in this Section
Section
specificaliy
specifically provided.

17.4 Condemnation of
Condemnation of Common
Common Elements. Awards for
Elements. Awards for the
the taking
taking of
of portions
portions ofof the
the Common
Common
Elements shall
Elements shall be
be used
used to render the remaining
remaining portion of_the Common
portion ofJhe Common E;lements
elements usable
usable in
in the
the manner
approved
approved byby the
the Board
Board of Directprs
Directors of the
the Association;
Association; provided, however, that
provided, however, that if the
the cost of such work
work
shall
shali exceed the baiance
exceed the balance of the
the funds
funds from
from the
the awards forfor the
the taking,
taking, thethe work
work shali
shall bebe approved
approved in in the
the
manner
manner elsewhere required for
elsewhere required for capital
capital improvements
improvements to to the
the Common
Common Elements.
Elements. TheThe balance
baiance ofof the
the
awards for the
the taking of Common Elements,
Elements, ifif any, shall be distributed, after adjustments
adjustments to these
these shares
shares
25
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 ( (

effected
effected pursuant hereto
hereto by reason
reason of the taking,
taking, to each Unit Owner by bycheck
checkmade
madepayable
payable jointly
jointly to
to
such Unit Owner
Owner and
and its
its respective
respective rhortgagee(s),
mortgagee(s), inin accordance
accordance with
with the
the provisions
provisions of
of Section
Section 15.6(a)
15.6(a)
herein.
herein, .

17.5 Condemnation of a Unit,

Unit. If there is a taking of a Unit,
Unit. the respective
respective Unit Owner
Owner shall not not
be required to utilize any portion
required to portion of
of the
the condemnation
condemnation award
award withwith regard
regard to reconstruction
reconstruction of of the
the Unit.
Unit.
Following such
Following such taking
taking of a Unit
Unit and the
the recording
recording of
of aa deed
deed toto the
the condemning
condemning authority,
authority, (1)
(1) the
the affected
affected
Unit Owner
Unit Owner shall
shall no
no longer have an ownership
ownership interest in in the Unit or an an undivided
undivided ownership
ownership interest in
interest in
the Common
the Common Elements, and (2)
Elements, and (2) such
such Unit. Owner shall
Unit Owner shall no
no longer
longer be responsible for the
responsible for the payment
payment of
Common Expenses.

The following
following changes shall be made
made in the
the Condominium following a taking
Condominium following taking as
as described
described in
in this
this
Section:

(a) Addition to dommon

Addition to Common Elements.
Elements. The
The remaining
remaining portion
portion of the Unit,
Unit, if any,
any, shall
shall
become part of the Common Elements and shall be placed in a condition allowing, to the extent possible,
allowing, to possible,
for use by all of the Unit Owners in the manner approved by the Board of Directors,
Directors.

(b) Adiustment of
Adjustment of Shares.
Shares. The
The shares
shares inin the
the Common
Common Elements,
Elements, Common
Common Expenses and
Expenses and
Common Surplus appurtenant to the Units
Common Units that continue
continue as part
part of
of the
the Condominium
Condominium shallshall be
be adjusted
adjusted to
to
distribute the shares
distribute the shares in the
the Common
Common Elements,
Elements, Common
Common Expenses
Expenses and and Common Surplus among
Common Surplus among the
the
reduced number
reduced number ofof Unit
Unit Owners
Owners (and
(and among
among reduced
reduced Units).
Units). This
This distribution
distribution will be
be based
based on anan equal
equal
fractional
fractional basis,
basis, which in the aggregate
aggregate must
must equal
equal the
the whole
whoie (the
(the numerator
numerator is is one
one and
and the
the denominator
denominator
equals the total number of units remaining).

(c) Assessments. In the event the Association does not have the funds necessary to alter alter the
remaining portion
remaining portion of the condemned Unit
Unit for
for use
use asas aa part
partof
ofthe
theCommon
CommonElements1
Elements, the additional
additional funds
funds
for such
such purposes shall be raised
purposes shall raised by
by Assessments
Assessments againstagainst all of
of the
the Unit
Unit Owners
Owners wh.o will continue 'ass
who will
Owners of Units after the changes in the Condominium effected effected by
by the
the taking. The Assessments
taking. The Assessments shall
shall be
be
made in
made in proportion
proportion to the applicable
applicabie percentage
percentage shares 'of those those Owners
Owners after all adjustments to suchsuch .
shares effected pursuant hereto by reason of of the taking.

17.6 Amendment Declaration. The

Amendment of Declaration. The changes
changes inin Units,
Units, in
in the
the Common
Common Elements
Elements andand in the
ownership of the Common Elements
Elements and
and share inin the.
the Common Expenses·and
Common Expenses and Common
Common Surplus
Surplus that
that are
are
effected by the taking
taking shall be evidenced by an amendment to to this
this Declaration that is
Declaration that is only
only required
required toto be
be
approved by,
by, and executed upon the direction
direction of, aa majority
majority of
of all
all members
members of of the
the Board
Board of Directors.
Dire.ctors.

Section 18: Occupancy and Use Restrictions

In order to provide for congenial

In congenial occupancy
occupancy of
of the
the Condominium
Condominium Property
Property and
and for
for the
the protectipn
protection
of the values
values of the Units,
Units, the use ofofthe
theCondominium
Condominium Property
Property shall
shall be
be restricted
restricted to and
and shall
shall be
be in
in
accordance with the following provisions
provisions and
and every
every Unit
UnitOwn.er
Owner shall:

18.1 Promptly pay the Assessments levied

levied by
by the Association.

18.2
18.2 Maintain in a clean and sanitary manner and repair his Unit and all interior surfacessurfaces within
within
or
or surrounding
surrounding his apartment Unit
Unit (such
(such as
as the
the surfaces
surfaces of
of the
the walls,
walls, ceilings,
ceilings, floors,
floors, etc.)
etc.) whether
whetheror ornot
not aa
part of the Unit
Unit or Common
Common Elements
Elements which
Which are a part
part of
of the
the Unit,
Unit, and
and maintain
maintain andand repair
repair the
the fixtures
fixtures
therein and pay for any utilities which are separately metere.d
metered toto his
his Unit.
Unit ,. ,

~J~.•j 18.3
18.3 Not
Not use or permit
permit the use
use of
of this
this Unit
Unit except
except for
for purposes
purposes consistent with the laws
consistent with laws of
li!£I government authorities having jurisdiction over
over the
the property. . .

26
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 18.4 permit or suffer anything
Not permit anything to to be
be done
done or kept
kept in
in his
his Unit
Unit which
which would
would increase
increase thethe
insurance
insurance rates
rates on his Unit
Unit or the
the Common Elements, which will
Elements, or which willobstruct
obstruct or
or interfere
interfere with
with the
the rights
rights of
of
oth& members
other members oror annoy
annoy them
them with
with unreasonable
unreasonable noisesnoises oror otherwise; nor shall
otherwise; nor shall aa member
member commit
commit or or
permit any nuisance, immoral
immoral or
or illegal
illegal act
act in
in his
his Unit
Unit or
or on
on the
the Common
Common Elements.
Elements.

18.5
18.5 Conform'to
Conform'to and
and abide
abide by
by the
the By-Laws
By-Laws and
and uniform
uniform rules
rules and regulations in regard
regulations in regard toto the
use of the
use the Unit
Unit and
and Common
Common Elements which may
Elements which may be
be adopted
adopted inin writing
writing from
from time
time toto time
time byby the
the
AssoOiation, and to see that all persons using the Owner's
Association, and Owner's property,
property, by,
by, through
through or
or under
under him
him dodo likewise.
likewise.

18.6 Make no alteration, decoration,

decoration, repair, replacement
replacement or change
change of
of the
the Common
Common Elements
Elements
or to any
any outside or
or exterior
exterior portion
portion of
of the
the building without the prior written consent of the Association.
Association.

18.7 Allow the Board

Board of of Administration or the authorized agents of of the Association to enter any
during reasonable
Unit during reasonable hours,
hours, when
when necessary
necessary for maintenance, repair or
maintenance, repair or replacement
replacement of of any
any Common
Common
Elements or of any portion of
of aa Unit
Unit to be
be maintained
maintained byby the
the Association pursuant
pursuant toto the
the Declaration
Declaration or
or as
as
necessary to prevent
prevent damage
damage to to the
the Common
Common Elements
Elements or or to
to another
another Unit
Unit or
or Units.
Units. If no key has
has been
been
provided to the Association, then
then the expense of of entry
entry into
Into a Unit
Unit for
for emergency
emergency purposes shall be be borne
by the Owner of the Unit.

18.8 Show no sign, advertisement or notice of any type on the Common Elements Elements or hishis Unit,
Unit,
and erect no exterior antennas and aerials,
and aerlais, except as provided
provided in uniform regulations promulgated by
regulations promulgated by the
the
Association. Notwithstandinganything
Association. Notwithstanding anythingcontained
containedherein
hereintoto the
the contrary,
contrary, aa Unit
Unit Owner
Owner is is permitted
permitted to
respectfully display a United
respectfully United States
States Flag.
Flag. In
In addition,
addition, pursuant
pursuant to 718,113(4), Statutes, which
718.113(4), Florida Statutes, which was
was
amended by
amended by Chapter
Chapter 2003-23,
2003-23, Laws
Laws of
of Florida, effective July
Florida, effective July 1,
1, 2003,
2003, a unit owner
owner on Armed Forces Forces
Day, Memorial
Day, Day, Flag
Memorial Day, Flag Day,
Day, Independence
Independence Day, Day, and
and Veterans
Veterans DayDay isis permitted
permitted to to display
display in
in aa
respectful way, portable,
respectful way, portable, removable official flags,
removable official flags, not larger than
than 4-1/2
4-1/2 feet by 6 feet,
feet, that
that represent
represent the
the
United States Army, Navy, Air Force,
Navy, Air Force, Marine
Marine Corps,
Corps, or
orCoast
CoastGuard.
Guard.

18.9 Abide by any regulations

Abide regulations regarding children as
regarding children as may
may be established by the
established by Association,
the Association,
except that no regulations shall prohibit children from residing in or occupying a Unit
Unit.

Make no repairs
18.10 Make repairs to any
any plumbing,
plumbing, airair bonditioning systems or
conditioning systems or electrical wiring within
electrical wiring within a
Unit, except by plumbers, repairmen or
Unit, or electricians authorized to do such work by by the
the management
management of of the
the
Association. Plumbing, air conditioning
Plumbing, air conditioning and
and electrical
electrical repairs
repairs within
within aa Unit
Unit shall
shall be
be paid
paid for
for and
and be the
financial obligations of
financial obligations of the
the Owner
Owner of the
the Unit. The Association
Unit. The shall pay
Association shall pay for
for and
and be
be responsible
responsible for
plumbing, air
plumbing, air conditioning
conditioning repairs
repairs and
and electrical
electrical wiring
wiring within
withinthe
the Common
Common Elements.
Elements, The
The Association
Association
shall have the right to exclude any unauthorized repairmen from the Condominium. '

, 18.11 Return
Return the
the 'Condominium
"Condominium Parcel"
Parcel" for the purpose
purpose of ad ad valorem taxes to the respective
respective
taxing authorities having jurisdiction over them for separate Assessment against his Condominium Condominium Parcel.
Parcel.
For the
For the purposes
purposes of ad valorem
valorem taxation, the interest of the
taxation, the the Owner
Owner of of aa "Condominium
"Condominium Parcel"
Parcel" in in his
his
"Condominium Unit" and in in the "Common
"Common Elements"
Elements" shall shall be
be considered
considered as as aa Unit.
Unit. The value of
of.said
said Unit
shall be equal to the
the proportion
proportion oror percentage
percentage of of the
the value
value of
of the
the entire
entire Condominium,
Condominium, including
including land
land and
and
improvements, as
improvements, as has
has been
been assigned
assignedto to said
said Unit
Unit in in Exhibit
Exhibit BB of
of this
this Declaration.
Declaration. The
The total
total of
of all
all said
said
proportions
propbrtions or percentages equals
equals the
the value
value of
of all
all of
of the
the land
land and
and improvements
improvementsthereon.
thereon.

18.12 Not replace and/or .remove

18.12 .remove screens,
screens, jalousies
jalousies or
or other
other enclosures
enclosures onon balconies, patios
patios or
or
terrace
terrace or on
on other parts of the building,
building, even though such
even though such areas
areas may
may be
be aa part
part of
of the
the Unit,
Unit, except
except with
with
por
priorwritten
writtenapproval
approvalofofthe
theBoard
Boardof
ofAdministration.
Administration. .

18.13 No No balconies, patios or,terraces

balconies, patios or terraces shall
shall be
be eXtended,
edended, enclosed
enclosed or
or decorated
decoratedin
in any
any way
way
whatsoever by a Unit
Unit owner
owner without
without the
the prior
prior written
written consent
consent of
of the
the Board
Board of
of Administration.

\ 27
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18.14 Except as otherwise provided herein, not divide or subdivide a Unit

18.14 Unit for
for purpose
purpose of
of sale
sale or
or
lease. Notwithstanding
lease. Notwithstanding the
the foregoing,
foregoing, aa Unit
Unitmay
may be
be combined
combined with
with aacontiguous
contiguous Unit
Unit and
and occupied
occupied as
as
one dwelling Unit. Such
dwelling Unit. Such a combination
combination shall
shall be
be for
for occupancy
occupancy only
only and
and shall
shall not
not be
be deemed
deemed and
and
amendment to to the Declaration.
Declaration. Further,
Further, any
any such,combination
such combination shall not
not materially
materially alter the configuration
configuration
ofaa Unit.
of Unit.

18.15 Not hanghang any laundry,

laundry, garments
garments or other objects which
other objects which are
are visible
visible from
from outside
outside of the
Unit, except
Unit, except for draperies,
draperies, blinds,
blinds, shades,
shades, or or other
other suitable
suitable window
window coverings. Decorative window
coverings. Decorative
coverings shall not
coverings shall not include
include any
any type of of reflective
reflective film onon any
any glass
glass windows
windows or or doors.
doors. The exterior
exterior
appearance
appearance of of all
aD window
window coverings
coveringsshall
shallbe bewhite
whiteinin color.
color. A
A unit
unit owner
owner may
may display,
display, however,
however, one
portable, removable United States
portable, States flag
flag in
in aa respectful
respectful way, and pursuant
way,-and pursuant toto 718.113(4),
718.113(4), Florida
Florida Statutes,
Statutes,
which was amended by Chapter 2003-23,2003-23, LawsLaws ofof Florida,
Florida, effective
effective July
July 1,
1, 2003,
2003, aa unit
unit owner
owner on
on Armed
Armed
Forces Day,
Day, Memorial Day,
Day, Flag Day, Independence
Independence Day, Day, and Veterans Day is permitted
permitted to display in a
respectful way,
respectful way, portable,
portable, removable
removable official
official flags,
flags, not
not larger
larger than
than 4-1/2
4-1/2 feet by 6 teet,
feet, that
that represent
represent the
the
United States Army,
Army, Navy,
Navy, Air Force,
Force, Marine Corps,Corps, or Coast Guard.
Guard.

18.16
18.16 NotNot allow
allow any rubbish,
rubbish, refuse,
refuse, garbage
garbage oror trash
trash to accumulate in places
accumulate in places other than
than the
receptacles provided therefor,
receptacles provided therefor, so that each
each Unit,
Unit, the
the Common
Common Elements
Elements and Limited Common Elements
Elements
shall at all times remain in a clean and sanitary condition.

18.17 Not make

make any useuse of
of aa Unit
Unitthat
thatviolates
violates any
anylaws,
laws, ordinances
ordinances and
and regulations
regulations of
of any
any
body having
governmental body having jurisdiction thereof.
thereof.

18.18 No No livestock,
livestock, reptiles, insects, pOUltry
reptiles, insects, poultry or or other
other animals
animals of any kind shall be kept kept in in any
any
Unit except that usual and ordinary domestic dogs, cats, fish, and birds inside bird cages may be be kept
kept as as
household
household pets pets within
within anyany Residential
Residential Unit Unit 'provided
provided that that they
they are are not kept,
kept, bred
bred or or raised
raised therein
th.erein for for
commercial purposes
commercial purposes or or in
in unreasonable quantities or
unreasonable quantities or sizes.
sizes. As used used inin the
the Declaration,
Declaration, "unreasonable
"unreasonable
quantities' shall
quantities" shall ordinarily
ordinarily mean
mean one one (1)
(1) pet
pet at
at thirty-five
thirty-five (35)
(35) pounds
pounds and and twotwo (2)
(2) pets
pets notnot to
to exceed
exceed fifty fifty
(50) pounds
(50) pounds (except
(except withwith regard
regard to quantities
quantities of fish) fish) per
·per Unit;
Unit; provided,
prOVided, however,
however, that that the Board
Board may may
determine that
determine that aa reasonable
reasonable numbernumber in in any
any instance
instance may may be be more.
more. No No potbellied
potbellied pigs,pigs, snakes,
snakes, pitbull
pitbull
dogs, Doberman
dogs, Doberman dogs, dogs, or any other animals determined determined in in the
the Board's
Board's solesole discretion
discretion to to be
be dangerous
dangerous or or
a nuisance
nuisance may may be be brought
brought onto
onto or or kept
kept on on the
the Project
Projectat at any
any time.
time. The BoardBoard shall have the
shall have the right
right to to
require that
require that any
any pet which,
which, in thethe Board's
Board's opinion,
opinion, endangers
endangers the the health
health or or security
security of of any
any Owner
Owner or
occupant of a Unit or creates a nuisance or unreasonable unreasonable disturbance, be permanently removed from the
Project upon
Project upon seven (7) (7) days written notice. If the Owner
written notice. Owner or occupantoccupant fails fails to
to do
do so, so, the
the Board
Board may may
remove the
remove pet. Any
the pet. Any pet which,
which, in in the
the Board's
Board's solesole discretion,
discretion, presents
presents an an immediate
immediate danger danger to to the
the
health, safety,
health, safety, oror property
property of of any
any Owner
Owner or or other Occupant of
other Occupant of aa Unit
Unit may
may be be removed
removed by by the BoardBoard
11 without
Without prior notice to to the
the pet's
pel's owner.
owner. Animals belonging to
Animals belonging Owners, occupants
to Owners, occupants or or their
their licensees,
licensees,
tenants or Invitees
Invitees within
within the 'Property
Property must be kept inside inside the livingliving element
element of of aa 'Residential
Residential Unit Unit (and
(and
shall not be left or or located
located unattended
unattended on on the
the Exclusive
Exclusive Use Use Balcony
Balcony Area Area oror Exclusive
Exclusive Use Use Patio
Patio Area
Area of of
that
that Unit),
Unit), and must
must be be held
held byby aaperson
person capable
capable of ofcontrolling
controlling the the animal
animal whenwhen outside,
outside of of a Unit.
Unit.
Furthermore, any
Furthermore, any Owner shall shall be liable
liable to to each
each andand allall remaining
remaining Occupants,
Occupants, theirtheir families;
families, guests
guests and and
lnvitees, for any unreasonable noise or damage to person
InVitees, person or property
property caused by any animals animals brought
brought or
kept upon
upon the Project by an OccupantOccupant or by by members
members of of his
his family,
family, hishis tenants
tenants or or his guests. It shall be
his guests. be
the duty
duty and
and responsibility
responsibility of of each
each suchsuch Owner
Ownertotoclean cleanup upafter
aftersuch
suchanimals
animalswhich whichhave,havedeposited'
deposited
droppings
droppings on on any public street abuttingabutting or visible
visible from
from thethe Property
Property and properly
properly dispose
dispose of any animal animal
waste. Any Any Occupant
Occupant who who keeps
keeps .or or maintains
maintains any any pet upon upon the the Project
Project shall
shall be be deemed
deemed to to have
have
indemnified
indemnified and and agreed
agreed to hold the Association,
Association, its directors, officers, and
directors, officers, and agents,
agents, and and thethe Declarant
Declarant free free
and
and harmless
harmless fromfrom anyany loss,
loss, claim,
claim or or liability
liability ofof any
any kind
kind or or character
character whatever
whatever arising
arising by by reason
reason of
£,
. keeping
keeping or maintaining such pet within the Project. - . !'..
,

. .

18.20 The Board of Directors

18.20 Directors shall
shall have
have the
the right
right to
to promulgate
promUlgate rules
rules and
and regulations
regulations regarding
regarding
of floors
soundproofing of floors in connection with
with the installation
installation of
of floor
flo.or coverings.
coverings.
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 18.21 Other than
than the Developer
Developer and
and asas otherwise
otherwise provided herein, Owners
provided herein, Owners may
may not
not do
do any
any
without written
construction or renovation without written notification to the
notification to the Association
Association at
at least
least seventy-two
seventyctwo (72)
(72) hours
hours iiiin
advance.
advance. The The Association
Association may
may reasonably
reasonably restrict
restrict the
the time
time and
and manner
manner of ofconstruction,
construction, except
except as itit
relates to the Developer. . . .

18.22 Other than the Developer,

Developer, Owners
Owners must provide copies of proper
provide copies proper permits,
permits, licenses and
licenses and
insurance certificates
insurance certificates and
and plans
plans andand specifications
specifications to
to the
the Association
Association before.
before· commencing
commencing with
with work.
Owners must use only properly
properly licensed
licensed workers.
workers.

18.23 Other than the Developer, all construction or renovation in Units may be
be done on Monday
through Friday
through Friday during
during the
the hours
hours between
between 10:00 a.m. to 5:00 p.m.
10:00a.m. p.m..

18.24 Proper attire

Proper attire is
is required,
required, including
including shirts
shirts and
and shoes,
shoes, when
when walking
walking through
through Common
Common
Elements.
Elements,

1il! 18.25
18.25 No pets are permitted in
in the hall areas.
(~\'\1t!
;;\.'hi..
18.26
18.26 Owners and residents
residents must
must deposit
deposit their
their trash
trash in
in the
the designated
designated trash
trashreceptacles.
receptacles.

i 18.27 Owners must provide

provide the Assodiation
Association with at least one set of
of keys to
to their
their Unit(s),
Unit(s), in
in case
case
1~1~ of emergency.

I arrival.
18.28

18.29.
18.29. The
All rental
All rental agreements

TheDeveloper
Developershall
shall be
must be
agreements must be sent

beexempt
sent to

exemptfrom
to the
the office

from all
office within
within seven

allprovisions
seven (7)

provisionsherein
(7) days
days in
ifl advance

herein.requiring
advance of

.requiring the
the consent
consent of
of the
the
Notwithstandinganything
Association. Notwithstanding anythingcontained
containedherein
hereintotothe
the contrary,
contrary, the
the Developer shall not
Developer shall not be
exempt
exempt from
from the following:
following: (1)
(1) requirements
requirements thatthat leases
leases or lessees
lessees be
be approved
approved by by the
the Association;
Association;
(2) restrictions
(2) restr.ictionson
onthe
the presence
presence ofof pets;
pets; and
and (3)
(3) restrictions
restrictions on
on occupancy of Units based on age.

Section 19:
19: Sellinq,
Selling, Leasinci
Leasing and
and Mórt.qaqinq
Mortgaging of Units
Units

Units may be made subject

Units subject to
to mortgages
mortgages without restrictions,
restrictions, but sales
sales and
and leases
leases thereof
thereof shall
shall
subject to the provisions of this Section 19
be sUbject 19:

19.1 Sales. AA unit

Sales. unitowner
ownerisisjointly
jointly and
and severally
severally liable
liable with
with the
the previous
previous owner
owner for all
all unpaid
unpaid
assessments that
assessments that came
came due
due upup to
to the
the time
time of transfer
transfer of
of title.
title. Each
Each new
new Owner
Owner receiving
receiving aa conveyance
from
from any
any party Developer shall
pa'ty except the Developer notifY the Association and
shall notify and the Managen;ent
Management FirmFirm promptly
promptly after
becomingaa new
becoming new Owner
Owner byby delivering
deliveringaa copy
copy of of his
his deed
deed to to the
the Unit
Unit to
to the
the Association
Association and
and the
the
Management Firm and shall pay any amount owed to the the Association within thirty (30) days.
Association within days.

19.2 Leases.
Leases. No No Unit
Unit Owner
Owner may may lease
lease oror rent
rent his
his Unit
Unit ifif delinquent
delinquent in the payment of any
Assessments.
Assessments. IfIfall allAssessments
Assessments are are paid
paid up
up to
to date,
date, aa Unit
Unit Owner
Owner may may rent rent Or lease such
or lease such Owner's
Owner's Unit
without further approval. However, the Unit Owner
approval. However, Owner renting
renting or. leasing such
or leasinfj such Owner's UnitUnit shall
shall promptly
promptly
notify the
notify the Association,
Association, oror Management
Management Firm Firmof ofeach
eachrenter
renterand
andthe theterm
termof.such
of uch rentalor
rental or lease..
lease. The
The sub-
sub-
leasing or sub-renting
leasing sub-renting of a UnitUnit Owner's
Owner's interest
interest isis not
not permitted..
permitted.. TheThe Association
Association shall
shall have
have the
the right to
require upon
require upon notice toto all Unit Owners that a substantially uniformuniform form of lease or sub-lease sub-lease be used by
all Unit
Unit Owners (including
(inclUding the
the Developer)
Developer) intending
intending to rentrent or
or lease
lease after
after said
said notice
notice and
and to to provide
provide such
such
form as aa Common
form Common Expense. Entire Units
Expense. Entire Units only
only maymay be rented,
r'lnted, provided
provided the occupancy
occupancy is is only by
by the
the
lessee and
and his family
family and
and guests.
guests. All
All rental
rental agreements
agreements must must be be sent to to the
the office
office within
Within seven (7) days
in advance
advance ofof arrival. Notwithstanding the
arrival. Notwithstanding the above,
above, leases
leases may be permitted no. no more than
than two (2) (2) tirne
times
per year.

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A tenant
tenant of aa Unit
Unit shall
shail have
have all
ailofofthe
theuse
userights
rightsininthe
theAssociation
Association Property
Property and
and Common
Common
Elements otherwise
Elements otherwise readily
readily available for use generally
generaily by Unit
Unit Owners
Owners and
and the
the Owner
Owner of
of the
the leased
leased Unit
Unit
shall
shail not have such rights,
rights, except as aa guest.
guest. This
Thisshall
shailnot,'
not, however,
however, interfere
interfere with access
access rights
rights of
of an
an
Owner as landlord pursuant
pursuant to to applicable
applicable law.
law.

19.3
'19.3 Continuing Liability.
Continuing Liability. The
The liability
liability of
of the
the Unit
Unit Owner
Owner under
under this
this Declaration
Declaration shall continue,
continue,
notwithstanding the fact
notwithstanding the fact that
that he may
may have
have leased,
leased, rented
rented or
or sub-let
sub-let said
said interest
interest as
as provided
provided herein.
herein.
Every purchaser, tenant or lessee shall take subject
purchaser, tenant sUbject to this Declaration,
Declaration, the Articles of Incorporation, the
Incorporation, the
By-Laws, and the management agreement, as weil
By-Laws, and well as the provisions of the Act.
Act.

19.4 No Severance of Ownership. No part of the Common Elements may be be sold,

sold, conveyed
conveyed or
or
otherwise
otherwise disposed of, except as an appurtenance
disposed of, appurtenance to the Unit Unit in
in connection
connection with aa sale,
sale, conveyance
conveyance or
other disposition
disposition of the Unit
Unit to
to which
which such
such interest
interest is
is appurtenant,
appurtenant, and
and any
any sale,
sale, conveyance
conveyance or or other
other
disposition of a Unit shail
shall be deemed to include that Unit's appurtenant interest in the Common Elements. Elements.

19.5
19,5 Gifts and Devises,
Devises, etc. Any
Any Unit
UnitOwner
Owner shall
shall be
be free
free to
to convey or transfer
conveyor transfer such
such Owners
Owner's
Unit by gift,
gift, to
to devise such
such Owner's
Owner's Unit by will,
will or
or to
to have
have such
such Owner's
Owner's Unit
Unit pass
pass byby intestacy,
intestacy, without
restriction; provided, however,
restriction; provided, however, that
that each
each succeeding
succeeding Unit Unit Owner
Owner shail
shall be
be bound
bound by, and such Owner's
by, and Owner's
Unit subject
sUbject to, the provisions of
of this
this Section.
Section.

Section 20: Compliance and Default

Each
Each Occupant and the Association shall be governed byby and
and shall
shail comply
comply with
with the
the terms
terms of
ofthis
this
Declaration
Declaration ofof Condominium and all exhibits
Condominium and exhibits annexed
annexed hereto,
hereto, and the
the rules
rules and
and regulations
regulations adopted
adopted
pursuant to those
pursuant to documents, as
those documents, as the same
same may bebe amended
amended from time
time to time. The Association (and
to time. (and
Owners, if appropriate) shall
Unit Owners, shall be.
be entitled
entitled to
to the following theremedies
following relief in addition to the provided by
remedies provided by
the Act:

20.1 Neqliqence. AA Unit

Negligence. UnitOwner
Owner shall
shail be
be liable
liable for
forthe
the expense
expense of
ofany
any maintenance,
maintenance, repair
repair or
or
replacementmade
replacement madenecessary
necessaryby byhis
his negligence
negligenceororby bythat
thatofof any
any member
member of of his
his family
family or
or his
his or their
guests, employees,
guests, employees, agents
agents or
or lessees,
lessees, but
but only
only to
to the
the extent
extent such
such expense
expense isis not
not met
met by
by the
the proceeds
proceeds of of
insurance
insurance actuaily
actually collected
collected in
in respect of such negligence by the Association.
Association.

20.2 Compliance.
Compliance. In In the
theavent
event aa Unit
Unit Owner
Owner fails to to maintain a Unit or fails fails to
to cause
cause such
such Unit
Unit
to be maintained,
maintained, or fails to observe and and perform all of the provisions of the Declaration,
Declaration, the the By-Laws, the
Articles
Articles Qf
of Incorporation, applicable rules
Incorporation, applicable rules andand regulations,
regUlations, or any any other
otheragreement,,
agreement, document
document or
instrument affecting the
instrument affecting the Condominium
Condominium PropertyPropertyor or administered
administeredby by the
the Association,
Association, in in the manner
manner
required,
required, the Association shall have the the right
right to
to proceed
proceed in in aa court
court of
of equity
equity to
to require
require performance
performance and/or
and/or
'compliance,
compliance, to to impose
impose anyany applicable
applicable fines
fines or
or toto sue
sue in
in aa court
court of law for damages.
damages. For For purposes
purposes ofofthis
this
Declaration, the failure
Declaration, the failure of an Occupant who is is not
not aa Unit
Unit Owner
Owner to to comply
comply with
with the
the terms
terms andand provisions
provisions
of this Declaration shail
shall not relieve the Unit Owner from liability and responsibility.
,
20.3 Costs and Attorneys' Fees.
Costs Fees. In In any proceeding arising because
proceeding arising because of an an aileged
alleged failure of a
Owner or the
Unit Owner the Association
Association to,to comply
comply with
with the
the requirements
requirements of of the
the Act,
Act, this
this Declaration,
Declaration, thethe Articles
Articles of
Incorporation, the
Incorporation, the By-Laws
By-Laws or the rules
'rules and
and regulations
regulations adopted
adopted pursuant
pursuant to to said
said documents,
documents, as as the
the same
same
may
may be be amended
amended from from time
time to time,
time, the
the prevailing
prevailing party
party shall be entitled
shail be to recover
entitled to recover the the costs
costs of the
the
proceeding and
proceeding and such
such reasonable attorneys' fees (including appellate appeilate attorneys' fees).'
fees).

20.4 No Waiver
No Waiver of Riqhts.
Rights. The
The failure
failure of
of the
the Association
Association or any
"ny Unit
Unit Owner
Owner toto enforceany
enforce any
,covenant, restrictionor
covenant, restriction or other
other provision
provision of the Act,
Act, this
this Declaration,
Declaration, the
the Articles'
Articles of
of Incorporation,
Incorporation, ,the
the By-
Laws or the rules
rules and
and regulations
regulations adopted
adopted pursuant
pursuant to to said
said documents,
documents, 'as
as the
the same
same maymay be
be amended
amended
from time time, shail
time to time, shall not constitute a waiver of
of their
their right to
to do
do so thereafter.
thereafter.

30
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 Section 21: Termination
Termination of Condominium

The Condominium shall continue until (i) terminated by casualty loss, condemnation or eminent
domain, as more particularly provided elsewhere in this Declaration, or (ii) such time as termination of the
condominium form of ownership is authorized by a vote of Owners owning 100% ofthe Units and by the
Primary Institutional First Mortgagee. Upon such termination, the former Condominium Property shall be
subject to an action for partition by any Owner, and the net proceeds of sale shall be divided among all
Owners in proportion to their respective interests in the Common Elements; provided, however, that no
payment shall be made to an Owner until all mortgages and liens on his Unit, in the order. of their priority,
have been satisfied out of his share of such net proceeds. Upon such termination, all funds of the
Association, including, but not limited to, reserves, but specifically excluding insurance proceeds and
condemnation awards (Which proceeds and awards shall be apportioned to the Unit Owners based upon
the provisions of Sections 17.4, respectively), shall be divided among all Owners in proportion to their
respective interests in the Common Elements; prOVided, however, that no payment shall be made to an
Owner until all mortgages and liens on his Unit, in the order of their priority, have been satisfied out of his
share of such net proceeds. The termination of the Condominium shall be effective upon a certificate of
the Association, executed by its President and Secretary, certifying the basis of the termination being
recorded among the public records of the County.

Section 22: Additional Rights of Mortgagees and Others

The following provisions are intended for the benefit of each holder of a first mortgage upon a
Unit, and, to the extent that any other provisions of this Declaration conflicts with the following provisions,
if at all, the following provisions shall control:

22.1 The Assobiation

The Association shallshall furnish
furnish to
to each
each Institutional
InstitutionalFirst
First Mortgagee
Mortgageeofofaa Unit
Unit and
and any
any
holder, insurer or guarantor of aa first
holder, first mortgage
mortgage aa written
written notice of any
notice of any default
default by
by the
the Unit
Unit Owner
Ownerof ofsucih
such
Unit in the performance of
of such
such Unit
Unit Owner's
Owner's obligations
obligations under
under this Declaration
Declaration that has notnot been
been cured
cured
within 60 days.

22.2 Upon request

Upon request inin writing,
writing, each
each Institutional First Mortgagee
Institutional First Mortgageeofof aa Unit
Unit and
and any
any holder,
holder,
insurer mortgage on
Insurer or guarantor of a first mortgage on aa Unit
Unit shall
shall have
have the
the right:
right

(a) to examine current copies of this Declaration,

Declaration, the By-Laws, rules and
By-Laws, rules and regUlations
regulations
and the books, records and financial statements of
of the Association during normal business hours;

(b) to receive,
receive, without any charge
charge and within a reasonable
reasonable time after
after such
such request,
request,
the annual
annual audited financial
financial statement which Which isis prepared
prepared and
and distributed
distributed by
by the
the Association
Association toto the
the Unit
Owners at the end of of its
its fiscal
fiscal year;
year; provided,
provided, however,
however, that
that in
in the
the event
event an
an audited
audited financial statement
statement isis
not available, the holders of 51% 51 % or more ofof the
the first
first mortgages
mortgages in the Units
Un.its shall be entitled to have
have such
such
an audited statement prepared at at their expense;

(c) to receive
receive written
written notices
notices of all meetings
meetings of the Association and to
Association and to designate a
representative to attend all such meetings;

(d) to receive written notice

receive written any decision
notice of any decision byby the
the Unit
Unit Owners
Ownersto
to make
make a material
material a
amendment to the Declaration,
Declaration, the By-Laws
By-Laws or
or the
the Articles
Articles of
of Incorporation;
Incorporation;

(e) to receive written

written notice of any lapse,
lapse, cancellation..or
canceilationor material
material modification of
of any
any
insurance policy or fidelity bond
bond maintained
maintained by
by the
the Association,
Association; and
and

(I) to receive
to written notice
receive written notice of
of any
any action which would
action which would require
require the
the consent
consent of
of a
specified number of Institutional First
First Mortgagees.
31
. .
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22.3 No provision of this

this Declaration
Declaration or
or the
the Articles
Articles of
of Incorporation
Incorporation or or any
any similar
similar instrument
instrument
pertaining to
pertaining to the Condominium Property or or the Units
Units therein shall be be deemed
deemed to give aa Unit
to give UnitOwner
Owner or orany
any
other
other party
party priority
priority over
over any rights
rights of
of the
the Institutional
Institutional First
First Mortgagees
Mortgagees of Units Units pursuant
pursuant to to their
their
mortgages in
mortgages in the
the case of distribution to UnitUnit Owners
Owners of of insurance
insurance proceeds or or condemnation
condemnation awards for
losses to or a taking ofof the
the Units,
Units, and/or
and/or the
the Common
Common Elements,
Elements, oror any
any portion
portion thereof
thereofor orinterest
interesttherein.
therein.
Iffil event, the holder of
In such event, any first
of'any first mortgage
mortgage onon aa Unit
Unit shall
shail be
be entitled,
entitled, upon
upon specific
specificwritten
written request,
request, to
to
~01 timely written notice ofof any
any such
such loss.
loss. .

~ .;l 22.4 The consent of Owners holding at least 75% of the total votes in in the
the Association
Association shall
shail be
be
t'~ required to
required to add or amend anyany material
material provisions
provisions of
of this
this Declaration
Declaration which
which establish,
estabiish, provide
provide for,
for, govern
govem
or regulate any of
of the following:

(a) Voting rights;

(b) Hazard or fidelity insurance requirements;

(c) to use of the Common Elements;

Rights to

(d) Responsibility for maintenance and

and repair of the Condominium Property;

(e) Boundaries of
of any
any Unit;
Unit;

(I) Convertibility of Units into Common Elements or of Common Elements into Units;

(g) Imposition of any

Imposition of any right
right of first refusal
refusal or similar restriction on the
restriction on the right of aa Unit
Unit
Owner to seil, transfer, or ~therwise
sell, transfer, otherwise convey his or her Unit; and

(h) Leasing of Units;

(i) Restoration or repair of the Condominium

Restoration Condominium (after damage or partial condemnation)

OJ
U) The expansion
expansion or
or contraction
contraction of
of the
the Condominium Property,
Property, or
or the
the addition,
addition,
annexation, or
or withdrawal
withdrawal of
of property to or
or from
from the
the Condominium
Condominium.

(k) Any
Any provisions which are
provisions which are for the
the express
express benefit
benefit of
of holders,
holders, insurers
insurers or
or
guarantors.of
guarantors.of first mortgages
mortgages on the Units.

(I) To establish self management.

management

(m) To raise the common charges

charges (budget)
(budget) more
more than
than 25%
25% in
in any one year.
anyone year.

(n) Reductions in
Reductions in reserves
reserves for maintenance,
maintenance, repair,
repair, and
and replacement
replacement of
of common
common
elements.

22.5 Upon
Upon specific written
written request tb
to the Associëtion,
Assodation, each Institutional
Institutional First Mortgagee
Mortgagee of a
Unit
Unit or holder, insurer or
holder, insurer or guarantor
guarantor of a mortgage
mortgage on on a Unit shall be furnished
furnished notice
notice in
in writing by the
the
Association of any
Association of any damage
damage toto or destruction or taking
destruction or taking of
of the
the Common
Common' Elements
Elements ifif such
such damage
damage or
destruction or taking exceeds $10,000.00 or ifif damage shall
exceeds$10,000.00.or shail occur
oc;cur to
to aa Unit
Unit in
in excess
excess of
of $1,000.00.
$1 ,000.00.

22.6 If any Unit or portion thereof

thereof or the Common Elements or any "
any portion
portion thereof is
is made
made thethe
subject matter of any c;ondemnation
SUbject condemnation or eminent domain
domain proceeding
proceeding or
or is
is otherwise
otherwise sought
sought to
to be
be acquired
acquired
by a condemning authority, then
condemning authority, then the
the holder,
holder, insurer or guarantor
guarantor of any first mortgage
mortgage on aa Unit
Unit will
will be
be
entitled to
entitled to timely
timely written
written notice,
notice, upon
upon specific
specific written
written request,
request, of any
any such
such proceeding
proceeding or or proposed
proposed
32
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 provisions of
acquisition and no provisions of any
any document
document will
will entitle
entitle aa Unit
Unit Owner
Owner or
orother
otherparty
partyto
topriority
priorityover
oversuch
such
holder with respect to the.
the distribution to such Unit
Unit of the proceeds
ofthe proceeds of any award or settlement.
settlement.

22.7 Any
Any holder
holder of
of aafirst
firstmortgage
mortgage onon aaUnit
Unitwho
whoreceives
receives aawritten
writtenrequest
requesttotoapprove
approve
additions or
additions or amendments
amendments andand fails to deliver
deliver or
or mail
mail to
to the
the requesting
requesting party
party aanegative
negative response
response within
within
deemed to
thirty (30) days shall be deemed to have
haveapproved
approvedsuch
suchrequest.
request.

22.8 As required by
by Section
Section 718.110,
718.110, Florida
Florida Statutes,
Statutes, any mortgagee consent required under
this
this Section shall not be unreasonably
Section shall unreasonably withheld
withheld and
and shall
shall otherwise be deemed
otherwise be deemed to apply
apply to the
the extent
extent
applicable.

Section 23:
23: Disclaimer of
of Warranties
Warranties

Pursuant to
Pursuant to Section
Section 718.618(6), Florida Statutes,
718.618(6), Florida Statutes, the the Developer
Developer is is deemed
deemed.to to have granted the
have granted the
Purchaser of
Purchaser of each
each Unit
Unit an implied
implied warranty
warranty of fitness
fitness andand merchantability
merchantability for for the purposes
purposes and and uses
uses
intended
intended asas to
to the
the roof
roof and
and structural
structural components
components of the the improvements;
improvements; as as toto fireproofing
fireproofing and and fire
fire
protection system; and
protection system; and as to
to mechanical,
mechanical, electrical
electrical and
and plumbing
plumbing elements
elements serving
serving the the improvements,
improvements,
except mechanical
mechanical elements serving
serving only one
one Unit.
Unit. To
To the
the extent
extent permitted
permitted by by law,
law, the
the Developer
Developer hereby
specifically disclaims any
specifically disclaims any other warranties whether expressed
expressed or or implied,
implied, other than than anyany warranty
warranty that
that
cannot be
be disclaimed
disclaimed under Section 718.618(6),
718.618(6), Florida Statutes. Developer
Florida Statutes. Developer further
further disclaims
disclaims ahy any intent
intent
to haye
have made
made anyany warranty
warranty ororrepresentation
representation ininconnection
connection with with the.
the. Condominium
Condominium Documents
Documents and and
disclosure materials except as specifically set forth therein, and
forth therein, and nono person
person shall
shall rely
rely upon
upon anyany warranty
warranty or or
representation not
representation not specifically
specifically made herein.
herein. Any
Any estimates
estimates of of common
common expenses,
expenses, taxes
taxes oror other
othercharges
charges
are believed to be accurate, butbut no
no warranty
warranty or
or guaranty
guaranty is is made
made or or intended,
intended, nor
normay
may one one bebe relied
relied upon
upon
except where the same is specifically
specifically warranted oror guaranteed.
guaranteed.

AS TO SUCH
SUCH WARRANTIES WHICH CANNOT BE DISCLAIMED,
DISCLAIMED, AND TO OTHER CLAIMS,
CLAIMS, IF
IF ANY,
ANY,
WHICH CAN BE
WHICH CAN BE MADE
MADE AS
ASTOTOTHE
THEAFORESAID
AFORESAID MATTERS,
MATTERS, ALL
ALLINCIDENTAL
INCIDENTAL AND AND
CONSEQUENTIAL DAMAGES
DAMAGES ARISING
ARISINGTHEREFROM
THEREFROMARE.
ARE HEREBY
HEREBY DISCLAIMED.
DISCLAIMED.

ALL UNIT
UNIT OWNERS,
OWNERS, BY
BY VIRTUE
VIRTUE OF
OFTHEIR
THEIR ACCEPTANCE
ACCEPTANCE OF
OF TITLE
TITLE TO
TOTHEIR
THEIRRESPECTIVE
RESPECTIVE
UNITS (WHETHER FROM
UNITS (WHETHER FROM THE
THE DEVELOPER
DEVELOPER OR
OR ANOTHER
ANOTHER PARTY),
PARTY), SHALL
SHALL BE DEEMED TO HAVE
DEEMED TO
AUTOMATICALLYWAIVED
AUTOMATICALLY WAIVED ALL
ALL OF
OF THE
THEAFORESAID
AFORESAID DISCLAIMED
DISCLAIMED WARRANTIES
WARRANTIES AND
AND
AND CONSEQUENTIAL
INCIDENTAL AND CONSEQUENTIAL DAMAGES.
DAMAGES.

Section 24:
24: Arbitration

Diputes between
Disputes between aa UnitUnit Owner
Owner and
and thethe Developer
Developer or or between
between thethe Association
Association and and thethe
Developer, as
Developer, as defined
defined in Section
Section 718.1255(1),
718.1255(1), Florida
Florida Statytes,
StaMes, involving
involVing Unit
UnitOwners;
Owners;Associations
Associations
and/or Tenants,
Tenants, shall
shall be resolved
resolved by mandatory
mandatory non-binding arbitration in
non-binding arbitration in accordance
accordance with with the
the rules
ru.les of

I the Division
the Division of
foregoing
litigation
of Fiorida
foregoing sentence,
Florida Land

(whether to
litigation (whether
Land Sales,
sentence, pursuant
to enforce
Sales, Condominiums
pursuant to
enforce an
Condominiumsand
to Section
Section 718.1255(4),
nd Mobile
718.1255(4), Florida
Homes, Without
Mobile Homes.
FloridaStatutes,
an arbitration award or otherwise),
Without limiting
Statutes,prior
otherwise), the
prior to
limiting the
to the
the effect of the
the institution
the parties to a dispute
institution of court
dispute shall petition the
the

the
Division
Division for non-binding
non-binding arbitration.
arbitration. Pursuant
Pursuant toto Rule
RUle 616-45.015(1),
618-45.015(1), F.A.C.,
FAC., parties
parties to an an arbitration
arbitration
proceedind
proceeding' are are limited
limited to unit
unit owners,
owners, associations
associations andand tenants. Notwithstanding abything
tenants. Notwithstanding anything contained
contained
herein to
herein to the
the contrary,
contrary, the remedi.es
remedies afforded by Sections 71 8.303and
718.303 and 718.506,
718.506, Florida
Florida Statutes,
Statutes, shall
shall not
not
be limited.
limited. Furthermore,
Furthermore, thisthis Section
Section shall
shall not
not impair
impair the
the Association's access to
Association's access to the
the courts,
courts, as as
representative
representative of of the 718.111(3), Florida Statutes.
the purchasers, pursuant to Section 718.111(3),

33
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Section 25: Association Control

25: Transfer of Association

25.1 When Unit

When Owners, other than
Unit Owners, than the Developer,
Developer, own fifteen (15%) percent
fifteen (15%) percent or or more
more of the
Units in
Units in this
this Condominium
Condominium that
that will
willbebeoperated
operated ultimately
ultimatelybybythe
theAssociation,
Association, thethe Unit
UnitOwners,
Owners, other
other than
than
the Developer,
Developer, shallshari be
be entitled
entitled toto elect not less than
than one-third
one-third (1/3)
(1/3) ofof the
the members of the Board Board of
Administration of
Administration of the
the Association. Unit Owners,other
Unit Owners, other than
than the
the Developer,
Developer, areare entitled
entitled toto elect
elect not
not less
less
than aa majority
majority of the members
membersof ofthe
theBoard
BoardofofAdministration the Association:
Administration of the Association:

(1) Three (3)

(3) years
years after
after fifty (50%) percent
fifty (50%) percent of the Units that will
willbe
be operated
operated
ultimately bythe
Ultimately by theAssociation
Associationhave
have been
been conveyed
conveyed to to purchasers;

(2) Three (3)

(3) months
months after
after ninety
ninety (90%)
(90%) percent
percent of
ofthe
theUnits
Unitsthat
thatwill,
will be
be
operated ultimately by the
Ultimately by the Association
Association have
have been conveyed to purchasers;
purchasers;

(3) When all

all the
the Units
Units that
that will
will be operated
operated ultimately
Ultimately by
by the
the Association
Association
have been
have been completed, some of
completed, some of these
these have been conveyed
conveyed to to purchasers;
purchasers; and
and none
none of
of the
the others
others are
being offered
being offered for
for sale
sale by
by the
the Developer in the ordinary
ordinary course
course of business;

(4) When
When some of of the
the units
units have
have been
been conveyed
conveyed to to purchasers
purchasers and
and none of
the others are being
being constructed
constructed or
oroffered
offered for
for sale by
by the
the developer
developer in
in the
the ordinary
ordinary course of
of business;
business;
or .

(5) Seven
Seven (7)
(7) years
years after
afterthe
therecordation
recordationof
ofthe
theDeclaration
Declarationof
ofCondominium
Condominium
creating the initial
initial phase;

whichever occurs first.

whichever first. The The developer
developer isis entitled
entitledtoto elect
elect atat least
least one member
member of the the board
board of
of
administrationof
administration ofan
anassociation
association as as long as the developer holds for sale in the ordinary course of business
ordinary course
at least
least 55 percent1
percent, in condominiums with fewer than
with fewer than 500 units, and 2 percent,
percent, in
in condominiums
condominiums with with more
more
than
than 500
500 units,
units, of
of the
the units
units inin aacondominium
condominium operated
operated byby the
theassociation. Followingthe
association. Following the time
time the
developer relinquishes
developer relinquishescontrol
controlofofthe theassociation,
association,thethedeveloper
developermay mayexercise
exercisethe the right
righttoto vote
vote any
any
developer-owned units
developer-owned units inin the
the same
same manner
manner as
as-any
,any other
other unit
unit owner
owner except
except for
for purposes
purposes of
ofreacquiring
reacquiring
control of
control of the
the association
association or selecting the majority members of the board of
majority members of administration.
administration.

Section 26: Additional

Additional Provisions

26.1 Notices. All notices to

All notices to the
the Association requiredor
Association required or desired
desired hereunder
hereunder or or under
under the
By-Laws shail
By-Laws shall bebe sent
sent by first class
class mail
mail to
to the
the AssQciation
Asspciation inin care
care of its office
office atat the Condominium,
Condominium, or to to
such other address
addressas asthe
theAssociation
Associationmay mayhereafter
hereafterdesignate
designate from
fromtime
timetototime
timebybynotice
noticeininwriting
writing to
to all
ail
Unit Owners. Except
Unit Owners. Except as
asprovided
providedspecifically
specifically inin the Act, all notices
Act, all notices to any Unit Owner shall
Unit Owner shall bebe sent
sent by
by first
class mail to the address
mail to address of of such
such Unit
Unit Owner
Owner appearing in in the Association's records at at the
the time
time the
the notice
notice
transmitted. Where
is transmitted. Where aa Unit
Unit is
is owned
owned by by more
more than
than one
one person,
person, thetheAssociation
Association shall
shall provide
provide notice,
notice, for
for
meetings and
meetings and allail other purposes,
purposes, to to that
thatone
oneaddress
addresswhich
whichthe theDeveloper
Developerinitially
initially identifies
identifies for that
purpose and
purpose and thereafter
thereafter as oneone orormore
more of ofthe
theOwners
Owners ofofthe
theUnit
Unit shall
shall so
soadvise
advisethe theAssociation
Association in in
writing, orififnonoaddress
writing, or addressisisgiven
givenororthe
the Owners
Ownersofofthe.the.Unit
Unit do donot
notagree,
agree,too the address
address provided
provided in in the
the
deed
deed of
of record,
record.

All noticestotomortgagees
All notices rhortgagees of
of Units
Unitsshall
shallbe'sent
be sent by
byfirst
firstclass
classmail
mailtototheir
theirrespective
respectiveaddresses,
addresses, or
or
such .other address as
other address asmay
maybebedesignated
designatedbybythem
themfrom
fromtime
time
-to time,
to in
time, inwriting,
writing to
to the
the
.~,
Association. .

All noticesshall
All notices shallbe
be deemed
deemed toto have
have been given
given when
When mailed in a postage
mailed in postage prepaid
prepaid sealed
sealed
wrapper, except notices
wrapper, except noticesofof aa change
change of
of address,
address, which shall be
Which shall be deemed
deemed toto have
have been
been given
given when
When
received, or 5 business
businessdays
daysafter
afterproper
propermailing,
mailing,whichever
whichevershall
shallfirst
first occur.
occur.

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 26.2 Interpretation.
Interpretation. The
The Board
Board ofofDirectors
Directors shall
shall be
be responsible
responsible for
for interpreting
interpreting the
the provisions
provisions
hereof and
hereof and of any of the
the exhibits
exhibits attached
attached hereto,
hereto. Such
Such interpretation
interpretation shall be binding
binding upon all parties
upon all parties
unless wholly
uniess wholly unreasonable.
unreasonable. An An opinion
opinion of of legal
legal counsel
counsel toto the
the Association,
Association, or
or the
the legal
legal counsel
counsel having
having
drafted
drafted this Declaration,
Declaration, that any
any interpretation
interpretation adopted
adopted by by the
the Association
Association isis not
not unreasonable
unreasonable shall
shall
validity of
conclusively establish the validity of such
such interpretation.
interpretation.

26.3 Bindinq Effect

Binding Effect ofof Section
Section 715.303,
718.303, Florida
Florida Statutes.
Statutes. The The provisions
provIsions ofof Section
Section
715.303(1), Florida
718.303(1), Florida Statutes,
Statutes, shall
shall be in full
full force
force and
and effect
effect and
and are
are incorporated
incorporated herein.
herein. Should
Should the
Association employ the use of
Association employ of aa professional
professional management firm, said
management firm, said Management Firm, for
Management Firm, for as
as long
long as
as
the management agreement remains
management agreement remains in in effect, shall assist
effect, shall assist the
the Association
Association in in the prosecution
prosecution of anyany
statute aforedescribed.
action pursuant to the statute aforedescribed.

I 26.4
Developer
Developer elects
Elements,
Riqht of Developer
Right Developer to
elects to add any
any recreational
the Developer shall pay all the
Elements, the
to Add
Add Recreational
Recreational Facilities
recreational facilities
facilities or add
the expenses
add or
expenses relating
Facilities and
or expand
relating to
expand any
to the
and Common
any other
other portion
the construction
construction or
Elements. If the
Common Elements,
portion of
or the
ofthe
theCommon
the providing
Common
providing of
the

of such.
such
shall record
addition or expansion and shall record an amendment to this Declaration
Declaration describing
describing suchsuch property.
property. The
amendment shall be executed
amendment shall executed withwith the formalities
formalities of aa deed
deed andand recorded
recorded inin the
the public
public records
recoras of
of the
the
County.
County. NoNoapproval
approvalororaction
actionofofthethe-Association,
-Association, Unit
Unit Owners
Owners or ormortgagees
mortgagees shall shall be
be necessary
necessary forfor
'adding
Paddingsuch
suchadditional
additionalCommon
CommonEiements
Elementstotocondominium
condominiumownership.
ownership. All costs of of maintenance,
maintenance, repair
repair
and replacement relating to to the
the addition
addition oror expansion
expansion of ofthe
the recreational
recreational facilities
facilities or
or any
any other
otherportion.
portion. of
Elements shall
the Common Elements shall be
be aaCommon
CommonExpense.
Expense.--

26.5 Riqht of Developer

Right Developer to to Convey
Convey Property
Property toto the
the Association. The Developer
Association. The Developer hereby
hereby
reserves
reserves thethe right to convey
convey to to the
the Association
Association an real property
any real property lying
lying contiguous to the
the Condominium
Condominium
Property free and clear of liens
liens and encumbrances,
encumbrances, including, but not limited to, to, wetlands
wetlands or other parcels
more suitable
suitable to become
become Association
Association Property
Property rather
rather than
than Common
Common Elements.
Elements. All costs
costs and
and..expenses
expenses
associated
associated with such Association
with such Association Property
Property shall
shall bebe Common Expenses. The
Common Expenses. The Association
Association shall
shall be
be
required
required toto accept any such conveyance
conveyance from from the
the Developer. Notwithstanding anything contained herein
Developer. Notwithstanding herein
to the
the contrary,
contrary, any rights
rights retained
retained inin this
this Section
Section 26.5
26.5 shall
shall terminate
terminate when Developer
Developer no
no longer holds
holds
units for
for sale.
sale.

26.6
26,6 Exhibits. There
There are
are hereby
hereby incorporated
incorporated in
in this
this Declaration
Declaration all materials contained in
materials contained in the
the
exhibits annexed hereto, except that asas to
to such
such exhibits,
exhibits, any
any conflicting
conflicting provisions
provisions set
set forth
forth therein
therein as
as to
to
enforcement and
their amendment, modification, enforcement and other
other matters
matters shall
shall control
control over
over those
those hereof.
hereof.

26.7 Siqnature
Signature of President and Secretary.
President and Secretary. Wherever
Wherever the signature
signature of the President
President of
of the
the
Association is
Association required hereunder,
is required hereunder, the signature
signature of aa Vice
Vice President
President may
may be
be substituted
substituted therefor,
therefor, and,
and,
wherever the
wherever signature of the
the signature the Secretary
Secretary of
of the
the Association
Association is
is required
reqUired hereunder,
hereunder, the signature
signature of anan
Assistant Secretary may
Assistant Secretary may be substituted therefor, provided
substituted therefor, provided that
that the
the same
same person
person may
may notnot execute
execute any
any
instrument on behalf
single instrument behalf of
of the
the Association
Association inin 22 separate
separate capacities.
capacities.

26.8
26.5 Severability. TheThe invalidity in whole
invalidity in whole or in part
part of
of any
any covenant
covenant or or restriction,
restriction, or
or any
any
section, subsection,
section, subsection, sentence, clause,
clause, phrase or word,
word, or
or other
other provision
prOVision of
of this
this Declaration,
Declaration, the
the exhibits
exhibits
annexed
annexed hereto,
hereto, or applicable
applicable rules
rules and
and regulations
regUlations adopted
adopted pursuant
pursuant toto such
such documents,
documents, as as the
the same
same
may be amended
amended fromfrom time to time,
time, shall
shall not
not affect
affect the
the validity
validity of the
the remaining
remaining portions which
portions thereof which
effect.
shall remain in full force and effect.

26.9 Waiver. NoNo provisions contained in

provisions contained in this
this Declaration shall be
Declaration shall be deemed
deemed to
to have
have been
been
waived
waived by
by reason
reason of any
any failure
failure to
to enforce
enforce the
the same,
same, without
without regard to the number
regard to number of violations
violations or
breaches which may occur. -.' _

26.10 Ratification. Each Unit

Ratification. Each Unit Owner,
Owner, by reason
reason of
of having
having acquired
acquired ownership
ownership (whether
(whether by
by
purchase, gift,
purchase, gift, operation
operation of law or otherwise),
otherwise), and
and each
each Occupant
Occupant who
who isis not
not aa Unit
Unit Owner
Owner (by
(by reason
reason of
of
35
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 such
such occupancy)
occupancy),shall
shallbe
bedeemed
deemedtotohave
haveacknowledged
acknowledged and
and agreed
agreed that
that all
all of
ofthe
the provisions
provisions of
of this
this
Declaration, and the Articles of
Declaration, and of Incorporation,
Incorporation, the By-Laws
By-Laws and applicable
applicable rules
rules and
and regulations,
regulations, are fair
and reasonable in all material respects.

26.11 Gender
Gender; Pluralit'j.
Pluralitv. ForFor convenience and ease of
convenience and of reference,
reference, the
the third
third person.
person singular
singular
impersonal form
impersonal form of pronoun
pronoun "it"
"it" has been used herein without
used herein without regard
regard to
to the proper grammatical
grammatical person
person or
or
gender
gender of the party being
being referred
referred tq.
tC!. All such
such references shall be
references shall be deemed
deemed to include
include the singular or
plurat'erson and
..plural'person andthe
themasculine,
masculine,feminine
feminineororneuter
neutergender,
gender, as
asrequired
required by
bythe
the context.
context.

26.12 Captions. The

26:12 . Captions. The captions
captions herein and in
herein and in the
the exhibits
exhibitsannexed
annexedhereto
heretoare areinserted
inerted only
only asa
asa
matter of convenience
convenience and for ease of
of reference
reference and in no way define or limit
limit the
the scope
scope of
of the
the particular
particular
document or any provision thereof.
thereof.

26.13 Animals. Na Ncrlivestock,

livestock,reptiles,
reptiles, insects,
insects, poulfry
poultry or
or other
other animals
animals of of any
any kind shall be kept
in any Unit except that usual usual andand ordinary
ordinary domestic
domestic dogs,dogs, cats,
cats, fish,
fish, and
and birds
birds inside
inside bird
bird cages
cages may may be be
kept as household pets pets within
within anyany Residential
Residential Unit
Unitprovided
providedthat
thatthey
theyarearenotnotkept,
kept,bred.
bred or.
or raised therein
for commercial
for commercial purposes
purposes or or in in unreasonable
unreasonable quantities
quantities or sizes.sizes. As
As usedused in in the Declaration,
Declaration,
"unreasonable quantities" shall ordinaHl,
"unreasonable ordinarily mean no more more than two two (2)
(2) pets
pets notnot to
to exceed
exceed fiftyfifty (50)
(50) pounds
pounds
(except with
(except with regard
regard toto quantities of fish) per Unit; Unit; provided, however, that the
provided, however, the Board
Board may may determine
determine that that aa
reasonable number
reasonable number in in any
any instance
instance may be more. more. No Nopotbeflied
potbellied piqs,
pigs, snakes,
snakes, pitbull
pitbull dogs,
dogs, Doberman
Doberman
dogs,
dogs, or any other animals determined in the Board's sole discretion discretion to to be dangerous
dangerous or a nuisancenuisance may may
be brought ontoonto or kept on the Project at any any time.
time. The The Board
Board shall
shall have
have thethe right
right toto require
require that any any pet
pet
which, in
which, in the Board's
Board's opinion,
opinion, endangers
endangers the the health
health or secUrity
security of of any
any Owner
Owner or or occupant
occupant.of of a Unit or
creates a nuisance
creates nuisance or orunreasonable
unreasonable disturbance,
disturbance, be be permanently
permanently removed from the the Project
Project upon seven seven
notice. If the Owner or occupant fails
(7) days written notice. so, the Board
fails to do so, Board may removeremove the the pet.
pet. AnyAny petpet
which, in
Which, in the
the Board's sole discretion,
Board's sole discretion presents
presents an immediate danger to
immediate danger to the health,
health, safety,
safety, oror property
property of of
any Owner
any Owner or or other
other Occupant
Occupant of a Unit Unit may
may bebe removed
removed by the Board Board without
without prior noticenotice to the the pet's
pet's
Animals belonging
owner. Animals belonging to to Owners,
Owners, occupants
occupants or or their
their licensees,
licensees, tenants
tenants or Invitees
Invitees within
within thethe
Property must
Property must bebe kept
kept inside
inside the living
living element
element of aa Residential
Residential Unit (and (and shall
shall notnot bebe left
left ororlocated
located
unattended on
unattended on the
the Exclusive
Exclusive Use Use Balcony
Balcony AreaArea oror Exclusive
Exclusive Use Use Patio
Patio Area
Area of of that Unit),
Unit), and must be
held by
held by aa person
person capable
capable of of controlling
controlling the the animal
animal whenwhen outside
outside of of aa Unit.
Unit Furthermore,
Furthermore, any any Owner
Ownershall shall
be liable to each and and allall remaining
remaining Occupants,
Occupants, their
their families,
families, guests and lnvitees,
Invitees, for for any
any unreasonable
unreasonable
noise
noise or damage
damage to to person
person or property
property caused
caused by by any
any animals brought or
animals brought or kept
kept upon
upon the the Project
Project by an an
Occupant or by members of his family, family, his
his tenants
tenants or or his guests. It shall be the duty and
his guests. and responsibility of
each such
each such Owner
Owner to to clean
clean up afterafter such
such animals
animals which
which have deposited droppings
have deposited droppings on on any
any public
public street
street
abutting or visible from the Property and properly dispose of any animal animal waste.
waste. Any Any Occupant
Occupant who who keeps
keeps
or maintains
maintains any any pet upon
upon the the Project
Project shall
shall be
be deemed
deemed to to have
have indemnified
indemnified and and agreed
agreed to hold hold the
the
Association, its directors,
Association, directors, officers, agents, and
officers, and agents, and the the Declarant
Declarant free
free and
and harmless
harmless from from any
any loss,
loss, claim,
claim,
or liability
liability of any kind
kind oror character
character whatever
whatever arising
arising by by reason
reason of of keeping
keeping or or maintaining
maintaining such such pet pet within
within
the Project.

26.14 Noise
Noise And
And Vibration.
Vibration. NoNo person
person shall
shall produce,
produce, or allow to be produced;
produced; noise
noise or building
building
shaking vibration
shaking vibration at such levels as will be offensive
offensive to other Occupants.

26.15 Toxic or Noxious

Noxious Matter,
Matter. No No person
person shall
shall discharge
discharge into the
the Project's
Project's sewer
sewersystem,
system,
storm drain or any toxic or noxious
noxious matter
matter in
in such concentrations as to be detrimental
detrimental to to or endanger the
public health,
health, safety,
safety, welfare,
weifare, violate any
any law,
law, subject
subject any
any Owner
Owner or Occupant
Occupant to to liability
liability under
under state
state and
and
federal law for any clean-up or
or cause
cause injury
injUry or
or damage
damage toto neighboring
neighboring property
property or
or business
business elsewhere
elsewhereon on
Project.
the Project. .

26.16 Drainaqe.
Drainage. There
There shall
shall be
beno
nointerference
interference with
with the
the established
established drainage
drainage pattern
pattern over
overthe
the
Project, unless
Project, unless an
an adequate
adequate alternative provision is
alternative provision is made
made for proper
proper drainage
drainage with
with the
the prior
priorwritten
written
approval of the Architectural Committee. ForForthe
thepurpose
purposehereof,
hereof, "established"
"established" drainage
drainage isis defined
definedasasthe
the
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 FROM :The
FROM :TkeL.Jave:
Wave: ACondomlniu(
ACondominiu( FAX NO. :7278672496
FAX NO. :727867?496 ( Ma~. 12:50PM
May. 19 2005 12:58PM P2

drainage,
drainage, which
which exists
exists atat the
the time
time of
of the
the first
first close
closeofofescrow
escrowforforthethesale
saleofofaaCondominium,
Condominium,or ortha~
tiat, which
which
is shown on
is shown on any
any plans
plans approved
approved by the Architectural Committee.
the Architectural Committee, Each Each Owner
Owner shall
shall have
have the dutyduly and
oblIgationtoto maintain
obligation maintain the the drainage
drainage situated
situatedwithin
withinany
anyExclusive
ExclusiveUse UsePatio
PatioArea
Areaand/or Exclusive Use
and/or Exclusive Use
Saloony
Balcony Area
Area free
free of debris and a,nd any other material which may impede impede the the flow
flow of
ofwater
waterand
and to
to clean
clean such
suoh
drainage,
drainage, asas may
may be be necessary,
neceséary, No No Ownef
Ownershallshall dispose
dispose of cf any
any Hazardous
Hazardous Materials
Materials in any
any drains.
drains, If It
such
Such Owner
Ownerfails
fails to
to maintain
maintain such such drainage
drainage and, and, as
as aa result,
result, imminent
imminent danger
danger oror damage
damage to to person
person or or
property
property may
may result
result to the other Owners,
Owners, then then the Association shall
the AssocIation shall have
have thethe right of access
access onto
onto such
such
area for the
the purpose
purpose of of olearing
clearing debris and other material rñaterial so
so as
as toto not Impede the flow of water. rhis right
water. This right
of access
access shall
shall be
be exercised'only for the purpose of preventing preventing damage to persons and property property andand the
the
Association shall
Association shall use
use reasonable
reasonable care care soso asas toto not
not ceuse
cause any
any damage
damageto to suoh
such areas. The Owner shall
areas. The shall
reimburse the Association for for any
any costs
costs and
and expenses
eXPl?JlsesIncurred
Incurred InIn clearing
clearing such
suchdebrIs.
debris.

IN WITNESS
WITNESS WHEREOF,
~llElIiiMli'!l"llte-seal
the Oevelope..(iJ1~s
WHEREOF, the Developer hasoaused
Vk'day
Iate-seaj to be hereunto affixed this ..
causedthis
d?'y.
IA
'l:lay of 11\,
thisDeclaration
2005
200£ '7 '
DeclarationtOJJll dulyexecuted
toe duly executed and
and its
its

Wlt$E$SES:
WITNI:SSes:

M a
SKYRE,LLC,
SKYEFA,
a Fl<lrida
LW,
Florida Limited'.lability Company
Umited ISabflity Company

~C;;:j:sfu~- ?t1izi 1
/7) ~/'l-.<Q
i4
iJy: ~~~~::====:-
BY::".....'
tJ,c/J flft'-tr
4

N' e: Benjanth Klein1 I13JU~r-

taL N
Prin~dIZi$f)ffi)%lvi)
I Print Name ¶4

STATR OF
STATE OF FLORIDA
FLORIDA ))
))SS:
SS:
COUNTY OF Miami-Dade
Miami.Dudo) AA .. M
COUNTY
fl,gjzr,g M'ILtt' 'Aji h f'-

personally
Before me,
Before ma, aa Notary
personallyappeared
appearedDenjamin
Benjamin
Publi P[;;a~t:+;aUr~:Jnl;'a:~v~~:;:n
Notary Pubnq
Klein}:;}
ç3s
in ann icr saig conLy ann statc% on this
SKYRE, LLC,
KIein of SKYRE. LLC, a Florida
day ofJm
Lhis712 day of fT IA f
Florida Limited Liability
LiabilityCompany,
Company, on
on behalf
behalfof'
t' "
20Q.('
., 2003,
said
01' said
companies,asasan
companies, anaot STCYRB,r..L~,
of' SKYRE,
act·.Of LLC,andand that an·n.ii. ail,,'lIing
that su sjgning Wl\.'was his act and
fre. act
his free and dead. Benjamin Klein
doud. Benjamin Klein is
personally
personallyknnwn
knownLotomo
me ororhaahas
produoe
produce. J A &.s - C, l as aa idontifica£lon.
idcndfieadon. .
~~~ . .

PriDtNam~D'A C)oroo~ .
ryx cO1Y-\crd
N~~lori~~::=;7
Notary_PiMic, _
My Commission
My Commission Expires:
Expire'S: l. . . . . ., SF-A r,)
(NOTARIA L SEAL)
(NOTAIUAL
a. a a ae-- a
DANA DOMOND
Nctcuy Public - State of FIQ&JQ
"<I MvCarn1MinEpOcfl9.2a
I
:',1
CommissIon # DO 364309
J
Bonded By Noffonol NotoryAsan.

~
:"'.'.')

37
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AM
m~l
.. '. FtTh1:The
~ :me Wauc:
Wav,,: pCa,domlnlum
RCondornlnlum FAX NO.
FAX NO. :7278672496
:fl7BG724% M&j. 19 2825 Llt3S P2

CONSENT OF MORTGAGEE
MORTGAGEE TO
TO OeCLARATION
DECLARATION OF CONDOMINIUM
CONDOMINIUM
FOR THE WAVE,
WiWr=., AACONIDOMJNBJM
CONDOMINIUM
~ .
• THISCONSENT
THIS CONSENT Is given
Is given 1Mof"J.~
as ofas day atof~
the ,day ,fl/aiE zooCn behalf
200.[o'n ofofPENINSULA
behalf PENINSULA BANK
BANK
(Moctgagee).
( Mortgagee'). b&ng
bolng the pre~ent owner
the present and holder
owner and holdilr of th;;'i.rta~
of that certaipoflgage
mortg<lge assumed
assumedbybySKYRE
SKYRELLC,
LL C aa
Florkia LimitedLiability
Florida Limited LiabilityCompany
Company (wMortgagor
('M?rtQllgor dateddated
the .thert1 JyrPt
day day ~. 200::
of ,Pe-,414-i
of j9?/q;j a~d
2O0,, and
recorded
recorded In In Official
OffICIal Records
Records BookBook k at Page
'ft7J37a4 at Page13
h 14S . of the
of the Public
Public of It-u~.<-
Recoris
RecordS of A-uo- e ,
County,FloridJllls
.County, Florlcth a has been
been Oror may
maybebeamended
ørnejidedfrom
fromUrne
Urne to time,
10 Ume, ('ortqaqe,
rMortgage").

WHEREAS, Developer
WHEREAS. Developer has requested
requested Mortgagll6 toconsent
Mortgage to consent to
to the
the recording
re<:ordins of
afthe Oechilration af
the Ceclaration of
The Wgya, (the Declarstion).
Wave, a Condominium (the Declarallon).

NOW,
NOW, nJEREFORE, Mortgagee consents
ThEREFORE, Mortgagee to the
consent to recordation af
tM recordation of Ihe
the Declaration.
OSaraflon.

Moagee rnke no
Mortgll.gee M,!keiS no warrantynty or or any
any representation
mpsen6on of of any
anykindkindor or naWm
natureconcerning
concerning the the
Decierajion, any of It
. Decleralion, or their tartna
itli'or provialons, or
barms or prevlalons, or thelf.gal
the ligel sufficiency
suffiooncy tr,erecf,
tnereof, anti
and disavows Bny such
dllJe:vows any such
warranty or representation as as well
well as :lIly participation fri
as any fn the development of The Wave Wwe, aaCondominium
Condominium
(tha condomlnlum'), and
(Ihf. "CondomInium'), and does
does not
nol aseume
assume and and shall
shall nol be ~ponslble
not be resrtslbte for loranyanyofofthe
theobilgadons
obligations oror
IIl1billlioll of the developer
HabiIitio dl!!\Ielopar contained
contained In In thG
!he Declaretloti pro~pectue, (If
Declmr.tIoI1 or the prtøpectus. (If any) orother
any) or otherdocuments
dpeuments
jssued In connection
issued conne<:lion with Ihe promotion of 1M
the pron,otion Condominium. Nlone
the Condominium. None of the representations
of the represenb;rtions corftsined
contained In In
lIle prospectus, (If
the prospectus, (I! any)
any) or other
olher dOCl.lments
documents shallshallbe
bedoomed
deemS to 10 have
have teen
boon macfe
made by Mortgagee
Mor(gagee, nor nor shall
shall
they be construed
constued to to create
createanyany obligatIon
obllgetlon on Mortgagee
Mortgagee 10 ~ny person
to any person relying
relying thereon.
thereon. ThIs
This consent is
Iim~ed to
limited o the
1110 purposu
pUrpo!l69and andrequframenta
requirements of of SctJons
Sactiom: 718,104
718,104 antiend 718.403, Florida SlatulM,
718.'-03, Florida Statutes,and anddo~s
don
not affect
nol affect or impair
impair thethe rights
ri&lhls and
and remedies
remedies of of Mortgage.e
Mortgageeas asset
set forth
forth in in lhe
the Mortgage
Mortgage or or in
in lhe
the
Declarellon.
Declaration.

S it
WwNSSES: PENINSLJL*
fl OtI'4F\

Name:.-+,,L-...L.~..,..-<->>4-"""'7'<"'-r-
Name: _ By:
Print N3We;
Print Na I4 Na
hUe vs
Name'
4441 4-1' Ag'
Name:.,--.......,.t.:::;:;.;'-:-':-'r::--t''.:-:-n",....;;-....,--
33

Print Nom
Nan, J2?JstftftI1 . ... (SEAL)
"1,

STATEOF
cotmrr or
tsr.
s Inn
1

eprh OoQcGaCP

Th~going
Thq._kcegOingin)!.,b;'jT1ent
inafrupient'MIS
ws a owfedged . .re rnethis,2. day of M
cwledged Ji:i>=:;";:":'

a
of) ,
~lcha!fQ~QO C$'tPrSdent oof t:1?Jaw~a::J;;!'.U1s..Clt
VO.flIflVy7 Q£mI)'f'retlldent P.. a said t.i:t.øt.
is personally
personally known
kneWrltotome
meor
cr0
D has produced --f------''k.-~f:--r-f
has produced '---I-....

My
MY CommilUlion ExpIres: JUl'\e..-G
Commiuion Expires: ,'Was
Junc_R2.008
(Signatur) V
(AFFIX NOTARY SEAL) Name; refln I ! pc1LLn
Name:..::::Ji..,;li,..uu.-Y:..,..~~~ -cb -
.......-'-"......-
(LIbIy
(La bly flnted)
eo.nted). ,
Notary Public, State of ~
NoWyPublic,Stllteof H nrjdn
~~~~, ~n~Edwar~
Penny Edwards
i:"!'i!JJ.·'If:;., MY
MYCOMMISSION DD327667E@IRES
COMMISSION## D0321681 EXPIRES
~'~':<fj-: . June 9, 2008
June?, 2008
~':tx;;r.·"':"''*'·'
•••• ,,\••>
BONDSOlHRU
FONDED THRUTROY
TROYFAIN
FAINlNSURANa,lNC.
INEURANC INC Number, ifif any)
Commission Number,

38
, F2WOCISbtR\t,ontiNavv'DQClarAtiOn4ac
F'lDoetJrTlGft\ll\Loul1l\ollndollN"""1D<l<:larlllion.doc
5I161200511:HAM
511W200511:14AM
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39
F:\DocumentslLouis\condo\Wave\Declaralion.doc
F:\Oocunients\Louis\condoWave\DecIaration4oc
10127120044:34 PM
10/27/20044:34 FM
 EXHIBIT "An
"A"

THE WAVE, A CONDOMINIUM

CONDOMINIUM

LEGAL DESCRIPTION, SURVEY, AFFIDAVIT OF SURVEY OR

AS.TO
ASTO CERTIFICATE
CERTIFICATE OF
OF SUBSTANTIAL
SUBSTANTIAL
COMPLETION, PLOT PLAN, FLOOR PLANS FOR UNITS
AND GRAPHIC DESCRIPTION
,--'-,""-", ~:""':~"i ".,::,0-'"2_ ~~ '-':! '.~ ·c.,,"-
"~"-'~"""'"
E~'':'''''''C,; if<'::-'.<.""·'" ;" '-'."f:'!$:.~:. <;c.'7:",~d"
"'"*"'~ ~J,:"'~~.-' ~.~§ ri.~5"~;;i5 ~'it:;:iof~::':; (2uUi' ®"2iB ~~

THE
THE WA
WA VE,
VE; AA CONDOMINIUM
PORTION OF
A PORTION OFSECTION
SECTION 11, TOWNSHiP 32
11, TOWNSHIP
OF ST. PETERSBURG,
CITY OFST.
32 SOUTH,
SOUTIj RANGE
PETERSBURG, PINELLAS COUNTY, FL
COUNTI' FL
16EAST,
RANGE 16 EAST ~
SITE PLAN
SCALE:
SCALE: T"
1"", ..4O
W

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MANOR, iloconl!fl\jl(lllle 8cok
55. Page
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SURAEYOWSCEWR'ICYT
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i

t(i. f#wd qjuud-anddJMJdak; #;1£/0 ~imeMlons of tile

dlmensl",~ 01 tlUl
COUSULl1UG ERHINEEYSLAND
CHNSUL1100 ENGJUEERS·lANDSURVEYORS
SURVEYORS LARD
lANDPLANNERS
PLANNERS

! sr,
ST. pETERSBURG
1620
ZEPHYRHIllS
PMIYRSSURG ZEPHYRYIIJ.N
0520 *F1RSr AVENUE NORTH
PlRNT AVENUE NORnt
ST. PETERSBURG, flORIDA 33713
ST.PETERSSURG.FLOTIOAHST1S
I TELEPHONE:
CERTIFICATE
/727\822-4151
DELEPHONELT2IIB22415T
OF AUTHOiUlATIOU L.B.
CERI1FI000EUEAUT000IZATIOR LS. '107
0001 SHEET1I OF5
SHEET 005

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 THE WA
WAY.£,
YE,AACQNDOMINJUM
CQNDOMINIUM.
PQRTIONOFSECTJON
A,',' PQRTJON
s, ,',
OFSECFJON
' _ ' ,
11,TOWNSHIP
II, TOWNSHip32'SOUTH;RANGE'I6EAST,
32 SOUTH,
•
RANGE 16 EAST;
CITY
UTYbESTOFST. PETERSBURG,PINELLAS
PETERSBURQ, PlNELf,;ASCOUNTY,
COUNTY, FL

tOl;

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CONSULTII:tG ENGINEERS L,A.HOSURVETORS
BtJl'MrI"ORll1.4)40
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SCALE:1~.
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£T.I'lm:RSBtJRQ PHYPIHIUS
l028-FLRStAVENUE NORTH
1UO·FiRSTA\'EHUEHORTH -

St. PETERSBURG PLORIDA33TI3

ST.P-I!TS\SSURO FLOfUDA.3J1U
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CERTIFICATE OFAUNONLUJ1ON , 101
1.8.1107 SHEET 2 OF S
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 ------.~------- .--------.------~ _.._---_._------ ----- __ ..• ._. __ .. - .. ---_.",._-,..._-_.,,---.-....,.-

THE WA YE,AA CONDOMINIUM

WA VE; CONDOMINIUM
A PORTION OF SECTION 1I, TOWNSHIP
SECT! ON/i, TOWNSHIP 32 SOUTH, RANGE
32 SOUTH EAST
RANGE 16 EAST,
CITY OFST.
cITY OF ST. PETERSBURG,
PET1J1?SBURG, PINELLASCOUNTY,
PINELLAS COUNT} FL

j.
,
! O22O
1
2ND - 6TH FLOORS: EAST
'--"-

!!!:;

~ SURVEYOR'S NOTES'
SEIIOETOCR SORES
T.LNT0SoRoeIeRen5UdOOI3tROIlRT!dS:
1.lImMd =0" elements Include bill are 1101 "mIledl,,:

'" ER
2.
mlgMd parki"lJ siJ3cos and sC'een ""rclJn.
Commllll
conkflm. DOW
RE/dOn
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TECH
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8'! I\tl! lmile<llc;
e"'eIlIl1Woll'. TEl/fl
p<:!ol ares,
HER, TRTI 4. Gb
Ill! lend. 5, 0550.!
lobby, HUT. slollflla
ofli<:e.13,md'1. 000 OARS.
l1lom5.
elevalot a~d VIla,slgned" palklnl1.
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or "'. I"",.rRED! ORO,TERE500IREH/
til lIT" u!1l"O, .1 ".elT
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IREtheII00000ISIARRERAHE!SDSEROEREDS,00S000000
Imlt, enfl,e llll""ness or tlTywan1l>,leR"d ..u1l!<T unlt. 'fleR btl ".eme<!1mIl<le
,I e.,mdo,ln.
8.1 Th. I"."" btMld.ry or ell <mb $Mtl b. file uf\fWell.ll smf.ce or the_noo.,
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AntlforonrinlslT..J
RAG A UoAO,"".... $Utlace.
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IMide !he bwr!\hrie!. The "",UIt! Ihiclme55 <If gl= WOIR, and windoW'; TIllhln tI un!
SMn be deeme<llriletlor Ixlun<iI!IIe:s.
STESRSASEROIHI540RNOIRUSIISS. -

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CIIl CONCRETE MOMtiMENT

§ ~:~..OH CH:IJ~'
ELM/RAIDS CHART
Le.E. UMlTeoCOMMON£l.EMeNT
e.lt COMMON eUiMetT
La. UCeNSE08IJS!NESS
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INCORPORATEO
RECOROPLAT
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MEASURES
M&>SUREO
-

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1"F1oor"
16.51
TEST
1.39
!WI RIGHT OF WA.Y
CONe. CONCRETE
Lobby"·
LS5O 6.92
ROD c\,. ClOSEt
ST
SR STORAGE
STORAGE

II
MOTt:1
EllWll]Jons srw.m h~{eli"der let the N:aUoffill Goodellc Vort!c31 Datum oI19Z9;
J8 JUNCTlCM sox.

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CONSULTING ENGINEERSLAND
•
LASSSURVEYORS
ST.
SURVEYORSLAND PLANNERS
AND FLASHERS
GY. PETERSSUR.<; ZEPHYRHILLS
PERERROUTS OEPIIVRRE.LR
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2YNtT 6TH FLOcACS:
• 6TH FLOORS: EAST
SCALE: R1....
SCALSI 15'
C OR-

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16211_. TROT
0520
ST.
FIRST AVENUE NORTH
ST. PETERSBURG,
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TELEPHONE: 1R201520.STRR
1111
CERTIFICATE DF00100HIZAT1HRI LS.A 100 SHEETSOFS
SHEETS OF S

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EXHIBIT"B"
EXHIBIT "B"
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THE WAVE, A
A CONDOMINIUM
CONDOMINIUM

UNIT OWNERS
UNIT UNDIVIDED SHARE IN
OWNERS UNDIVIDED IN THE COMMON
COMMON ELEMENTS
AND PERCENTAGE OF SHARING
AND SHARING COMMON EXPENSES
COMMON EXPENSES
AND OWNING
AND OWNING COMMON
COMMON SURPLUS
SURPLUS
 ( (

CONDOMINIUM
THE WAVE, A CONDOMINIUM

UNDN!DED SHARE
UNIT OWNER UNDNIDED SHARE IN
IN THE
THE COMMON
COMMON ELEMENTS
ELEMENTS AND
AND
FRACTIONAL SHARES
FRACTIONAL SHARES OF
OF SHARING
SHARING COMMON
COMMON EXPENSES
AND OWNING COMMON SURPLUS
SURPLUS

e -
Both the fractional
fractional shares
shares of ownership
ownership of of Common
Common Elements
Elemerts and the Common
Common Expenses
Expenses of the the
were apportioned
Units were apportioned by by grouping
grouping the
the Units
Units into
into Types
Types and
and allocating
allocating points
points to
to each
each type
type as
as follows:
follows: The
The
ownership share
ownership share of the
the Common Elements and
Common Elements and Common
Common Expenses
Expenses assigned
assignedtotoeach
each unit
unit shall
shall be
be based
based
upon the total
totai square
square footage
footage of each unit
unit in
in uniform
uniform relationship
relationship to the
the total
total square
square footage
footage ofof each
each other
other
residential unit in the condominium. .

for each
The fractional shares for each Unit
Unit were arrived
arrived at
at as
as follows:
llows:

UNIT UNIT UNIT

TYPE NUMBER BED/BATH FT.
SQ. FT. INTEREST
UNDIVIDED INTEREST
FIRST FLOOR
C 101
101 2 BR /1-1/2 BA
BR 11-1/2 887 8871102,164
C 102 2 BR 11-112
/ 1-1/2 BA
BA 887 887/102,164
D 103 2BRIIBA
2 SR/1 SA 887 887/102,164
B 104 IBR/1BA
1 SR 11 BA 708 708/102,164
S
B 105
105 IBR/1BA
1 SR/1 SA 708 708/102,164
S
B 106
106 IBR/1BA
1 SR/1 SA 708 708/102,164 .
S
B . 107
107 1BRIIBA
1 SR 11 SA 708 708/102,164
S
B 108 1BR/IBA
1 BR/1 SA 708 708/102,164
S
B 109
109 1BR/IBA
1 SR/1 SA 708 708/102,164
S
B
.
110 1BR/1BA
1 SR/1 SA 708 708/102,164
S
B 111 1BR/IBA
1 SR 11 SA 708 708/102,164
S
B 112 11BR/1BA
SR/1 SA 708 708/102,164
G 113
.
2BR/2BA
2SR/2SA 1,268 1,268/102,164
S
B 114 11BR/IBA
SR/1 SA 708 708/102,164
CC 115 2BR/1-1/2BA
2 SR 11-1/2 SA 887 887/102,164
8871102,164
S
B 116 11BR/1BA
SR/1 SA 708 708/102,164
S
B 118
118 IBR/IBA
1 SR 11 SA 708
708 708/102,164
C 120 2BR/1-1/2BA
2 SR 11-112 SA 887 887/102,164
SECOND FLOOR
FLOOR
C
C 201 2BR/l-l/2BA
2 SR 11·1/2 SA 887
887 887/102,164
8871102,164
C 202 2BR/1-1/2BA
2 SR 11·1/2 SA 887 887/102,164
8871102,164
D 203 2BR/IBA
2 SR/1 SA 887
887 887/102,164
D
D 204 2BR/1
2 SR 11 BA
SA . 887
887 887/102,164
S
B 205 1BR/1BA
1 SR 11 SA 708 708/102,164
F
F 206 2BR/1-1/2BA
2 SR 11-112 SA 957 957/102,164
A 207 IBR/IBA
1 SR/1 SA 646 646/102,164
S
B 208 IBR/IBA
1 SR/1 SA 708 708/102,164
S
B 209 '·11BR!1BA
SR/1 SA 708 708/102,164
S
B 210 IBR/IBA
1 SR/1 SA 708 708/102,164
S
B 211
.
IBR/IBA
1 SR /1 SA . 708 708/102,164
S
B
.
212 IBR/1BA
1 SR /1 SA 708 708/102,164
E 213
213 2BR/1-1/2BA
2 SR /1-1/2 SA 919 919/102,164
S
B 214
214 1IBR/IBA
SR /1 SA 708 708/102,164
 . UNIT
UNIT .. UNIT .. UNIT
Uwn'
. TYPE
TYPE NUMBER.
NUMBER BED/BATH SQ.
SQ. FT.
Fr. UNDIVIDED INTEREST
S 215 IBR/1BA
1 SR 11 SA 708 708/102,164
.F
F 216 2BR/1-1/2BA
2 BR 11-1/2 SA 957 957/102,164
9571102,164
A 217
.217 IBR/IBA
1 BR 11 BA 646 646/102,164
0
D 218 ,: 23R/IBA
2BR/1 SA 887 887/102,164
B
B 219 IBR/IBA
1 SR/1 SA 708 708/102,164
c
C 220 2BR/1-1/2BA
2 SR 11-112 BA 887 887/102,164
D
D ..221
221 2BR/1BA
2 BR/1 BA 887 887/102,164 I·
cC 222 2BR/1-1/28A
2 BR 11-112 SA 887 . 887/102,164 '
THIRD FLOOR
C
C 301 . 2BR/1-1/2BA
2 SR 11-1/2 BA 887 887/102,164
8871102,164
C 302 2BR/1-1/2BA
2 BR 11-1/2 BA 887
887 887/102,164
8871102,164
.0
D 303 .2BR/1BA
2BR/1SA 887 887/102,164
D
D 304 2BR/1BA
2 SR/1 SA 887 . 887/102,164
S
B 305 1BR/IBA
1 SR/1 SA 708 708/102,164
F 306 2 BR /1-1/2 BA
SR 1.1-1/2 SA 957 957/102,164
957 / 102,164
A 307 1 SR
BR/i
11 BA
BA 646 646/102,164
S
B 308 1BR/1BA
1 SR 11 SA 708 708/102,164
S
B 309 IBR/1BA
1 SR/1 BA 708 708/102,164
S
B 310 IBR/1BA
1 SR/1 SA 708 708/102,164
S
B .
.
311 IBR/1BA
1BR/1BA 708 . 708/102,164
S
B 312 1BR/1BA
1 SR 11 SA 708 708/102,164
E
F . 313 2 BR / 1-1/2 BA
SR 11-1/2 SA 919 9191102,164
919 / 102,164
S
B 314 IBR/IBA
1 SR/1 SA 708 708/102,164
S
B . 315 IBR/1BA
1 BR/1 SA 708 708/102,164
F 316 2BR/1-1/2BA
2 SR 11-1/2 SA 957 957/102,164
9571102,164
A 317 1 SR
1 BR/i
11 BA
SA 646 646/102,164
0
D 318 2BR/1BA
2 SR 11 SA .887
887 887/102,164
S
B 319 1BR/IBA
1 SR/1 SA 708 708/102,164
C 320
320· 2 BR 11-1/2
/ 1-1/2 BA
SA 887 8871102,164
887 / 102,164
D
O 321 2BR/1BA
2 SR/1 SA 887 . 887/102,164
C 322 . 2BR/1-1/2BA
2 BR 11-112 SA 887 887/102,164
FOURTH FLOOR
FOURTH
C 401 2BR/1-1/2BA
2 SR 11-112 SA 887 887/102,164
C
C .402
402 28R/i-1/2BA
2 SR 11-1/2 SA 887 887/102,164
8871102,164
D
O 403 2BR/IBA
2 BR/1 SA 887 887/102,164
887/102,164 .
0
D 404 2BR/1BA
2SR/1SA 887 887/102,164
B
B 405 IBR/IBA
1 SR/1 SA 708 708/102,164
708/102:164
F 406 . 2BR/1-1/2BA
2 SR 11-1/2 SA 957 957/102,164
A
.A 407 .1BR/IBA
1 SR/1 SA 646 646/102,164
S
B 408 1BR/1BA
1 SR/1 SA 708 708/102,164
708/102164
S
B 409 1 SR/1
1 BR/i BA
BA 708 . 708/102,164
B
B 410 1BR/IBA
1 SR 11 SA 708 708/102,164
708/102164
S
B 411 1BR/IBA
1 SR/1 SA 708''
708 . 708/102,164
 ( (

UNIT UNIT UNIT

UNiT
TYPE NUMBER BED/BATH
BEDJBATH S.
SQ.Fr.
FT. UNDIVIDED INTEREST
B
B 412 1BR/IBA
1 BR/1 BA 708
708 708/102,164
E
E 413 2BR/I-1/2BA.
2 BR 11-1/2 BA, 919
919 919/102,164
9191102,164
B 414 IBR/1BA
1BR/1BA 708 708/102,164
B 415 ,1
IBRI1BA,
1BR/1BA 708 708/102,164
F 416 2BRII-1/2BA
2 BR 11-1/2 BA 957 957/102,164
9571102,164
A 417 .
1 BR/1
BR/I BA
BA 646.
646', 646/102,164
D , 418 ZBR/IBA
2BR/1BA 887 887/102,164
B 419 1BR/IBA
1 BR/1 BA 708 ' 708/102,14
708/102,164
C 420 ZBR/l-1/2BA
2 BR/1-1/2 BA 887 887/102,164
D
D 421 2BR/IBA
2 BR/1BA 887 887/102,164
C 422 2BR/1-IJ2BA
2 BR/1-1/2 SA 887 887/102,164
FIFTH FLOOR ,

C 501 2BR/1-1/28A
2 BR/1-1/2 SA 887 887/102,164
C 502 2BR/i-1/2BA
2 BR 11-1/2 BA 887 887/102,164
8871102,164
D 503 2BR/IBA
2 BR/1BA 887 . 887/102,164
D 504 2BR/IBA
2 BR/1BA 887 887/102,164
,B
,B 505 1 BR/1
1 BR/I BA
BA , 708 708/102,164
F
F 506 2BR/1-1/2BA
2 BR 11-1/2 BA 957 957/102,164
A 507 IBS/IBA
1BR/1BA 646 646/102,164
B 508 1BR/IBA
1BR/1BA 708 708/102,164
B 509 IBR/IBA
1BR/1BA 708 708/102,164
B 510 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B 511 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B 512 1 BR/1
BR/i BA
BA 708 708/102,184
708 1102,164
E 513 2BR/1-1/2BA
2 BR 11-1/2 BA 919 919/102,164
9191102,164
S
B 514 ,
1BR/1BA
1 BR/1 SA 708
708 708/102,164
B
B 515 1BR/IBA
1BR/1BA 708
708 708/102,164
F
F 516 2BR/1-i/28A
2 BR 11-112 BA 957
957 957/102,164
A 517 1BR/1BA
1 SR/1 SA 646 646/102,164
D ,
518 2BR/IBA
2 SR/1BA "
887 887/102,164
B 519 IBR/1BA
1 BR/1 SA 708 708/102,164
C 520
520 2BR/14/2BA
2 BR 11-1/2 BA 887 887/102,164
8871102,164
D
D 521 2BR/-1BA
2 BR/1BA 887 887/102,164
C'
C 522
522 2BR/l-1/28A
2 BR 11-1/2 SA 887 887/102,164
8871102,164
SIXTH
SIXTH FLOOR
C
C 601 . BR!11-1/2.BA
2 BR I-i/2.BA ,
887 887/102,164
8871102,164
C 602 28R/i-i/2BA
2 BR 11-1/2 BA 887 887/102164
887/102,164
D
D 603 2BR/IBA
2 BR/1BA 887 887/102,164
D
D ' 604 2BR/1BA
2BR/1 SA 887 887/102,164.
887/102,164,
3
B 605 1BR/1BA
1 BR/1 SA 708 708/102,164
F
F 606 28R/i-1/2BA.
2 BR/1-1/2 BA 957 957/102,164
A 607 1IBR/IBA
BR/1 BA 646 646/102,164
B \ 608 1IBR/IBA
BR/1 BA 708 708/102,164
 .

UNIT _________________
UNIT . UNIT
.
TYPE NUMBER BEDIBATH
BED/BATH SQ. FT.
So. FT. UNDIVIDED INTEREST
8B 609 IBR/IBA
1 BR 11 BA 708 708/102,164
B .610
610 1 BR
1 BR/i
/1 BA
BA 708 708/102,164
B
B 611 1 BR/1 BA 708 708/102,164
<j
B
B 612 1BR/1BA 708 708/102,164
E 613 2 BR 11-112 BA 919 919/102,164
B
B 614 1 BR 11 BA 708 708/102,164
B
B .615
615 1BR/1BA 708 708/102,164
F 616 2 BR 11-1/2 BA 957 .957/102,164
957/102,164
A 617 . IBR/IBA
1 BR/1 BA 646 646/102,164
D
D :. 618 2BR/1BA
2 BR/1 BA ..
887 . 887/102,164
.
B 619 1 BR 11 BA 708 708/102,164
C 620 .
2 BR 11-1/2 BA 887 887/102,164
8871102,164
D
D 621 2BR/IBA
2BR/1BA 887 887/102164
887/102,164

I TOTAL
C 622 2BR/l-1/2BA
2 BR 11-112 BA 887

102,164
887/102,164

102,164 (102,164
102,164/102,164

A/I Square footages shown are approximate

All

UNIT BREAKDOWN;
BREAKDOWN:

UNIT UNIT NO. OF TOTAL UNIT FRACTIONAL TOTAL

TYPE AREA . UNITS
UNITS AREA . SHARE EACH
EACH FRACTIONAL SHARE
A 646 10 6,460 646/102,164 6,460/102,164
B
B 708 57 40,356 708/102,164
708 / 102,164 40,356 / 102,164
40,356/102,164
C
C 887 24 21,288 887/102,164 21,288/102,164
D 887 21
21 18,627
18,627 8871102,164
887/102,164 18,627/102,164
. E
E 919 5 4,595 919/102,164 4,595/102,164
F
F 957 10 9,570 957/102,164
957/102164 9,570 / 102,164
9,570/102,164
0
G 1,268 1
1 1,268 1,268/102,164
1,268 / 102,164 1,268/102,164
1,268 / 102,164

TOTAL 128
128 102,164
102,164 102,164/102,164

All Square footages

footeges shown are approximate.
approxImate.
 SCHEDULE "2"

THE WAVE, A
A CONDOMINIUM
CONDOMINIUM

UNIT NUMBER, UNIT TYPE, NUMBER OF

BEDROOMSIBATHROOMS IN EACH UNIT
BEDROOMS/BATHROOMS
AND UNDIVIDED INTEREST
 ( (

THE WAVE,
THE WAVE, AA CONDOMINIUM
CONDOMINIUM

UNIT
UNIT NUMBER,
NUMBER,NUMBER
NUMBER OF
OFBEDROOMS
BEDROOMS /IBATHROOMS
BATHROOMS
IN
IN EACH
EACH UNIT
UNITAND
AND UNDIVIDED
UNDIVIDED INTEREST
INTEREST

UNIT
Uw:r UNIT UNIT
TYPE
TypE NUMBER · BED/BATH
BED/BATh FT.
SQ. Er. UNDIVIDEDINTEREST
UNDIVIDED INTEREST
FIRST FLOOR
FLOOR
C
C 101
101 2 BR/1-1/2 BA
2BRII-1/2BA 887 887/102,164
C
c 102
102 2BR/1-1/2BA
28R/1-1/2BA 887 887/102,164
D
o 103
103 2BR/IBA
2 BR /1 BA 887 887/102,164
B
B 104
104 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B 105
105 IBR/IBA
1 BR /1 BA 708 708/102,164
B
B 106
106 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B - 107
107 1BR /1 BA
1.BR/1BA 708
.7O8 708/102,164
B
B 108
108 1.BR/1BA
i.BR/IBA 708 708/102,164
B
B 109 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B 110 IBRI1BA
1 BR /1 BA 708 708/102,164
B
B 111
Ill 1BR/IBA
1 BR/1 BA 708 708/102,164
B
B 112 1
I BR/1
BRJI BA
BA 708 708/102,164
C
G 113 28R/2BA
2 BR/2 BA 1,268
1,268 1,268/102,184
1,268/102,164
B 114 1 BR/1
BR/i BA
BA 708 708/102,164
C 115 2 BR/1-1/2 BA
2BR/1-1/2BA 887 887/102,164
B 116
116 1IBRIIBA
BR /1 BA 708 708/102,164
B
B ,118
.118 1IBR/1BA
BR /1 BA 708 708/102,164
C 120 2BR/1-1/2BA 887 887/102,164
SECOND
SECOND FLOOR
FLOOR ..
C 201
201 . 2BR/1-1/2BA 887 887/102,164
C 202 · 2 BR/1-1/2 BA
2BR/1-1/2BA 887 887/102,164
D
0 203 2BR/IBA
2 BR/1 BA 887 887/102,164
D 204 2BR/IBA
2 BR /1 BA 887 887/102,164
B 205 1BR/IBA
1 BR/1 BA 708 708/102,164
F 206 2 BR/1-1/2 BA
2BRII-1/2BA 957
957 957/102,164
A 207
207 IBR/IBA
1 BR /1 BA 646 646/102,164
B
B 208
208 IBR/1BA
1 BR /1 BA 708 708/102,164
B
B 209
209 ·
IBR/1BA
1 BR/1 SA 708 708/102,164
7081102,164
B
B 210
210 1 BR /1 SA
BR/I BA 708 708/102,164
B
B 211 IBRIIBA
1 BR /1 SA 708 708/102,164
708/102,164
B 212 IBR/IBA
1 BR /1 SA 708 708/102,164
E 213 2 BR/1-1/2 BA
2BR/1-1/2BA 919 919/102,164
B
B 214 1IBR/18A
BR /1 BA .79
7088 708 (102,164
70/102,164
BB 215 IBRIIBA
1 BR/1 BA
-
708
708 708/102,164
F 216 2 BR/1-1/2 BA
2BR/1-1/2BA 957
957 '957/102,164
-9571102,164
A 217 1BR/IBA
1 BR/1 BA 646
646 646/102,164
0D 218 2BR/IBA
2BR/1 BA 887 887/102,164.
887/102,164
B
B 219 1BR/IBA
1 BR/1 BA 708 . 708/102,164
C
C 220 2 BR/1-1I2 BA
2BR/1l12BA 887 887/102,164
887/102,164.
 UNIT UNIT
UNIT UNIT
UNIT
TYPE NUMBER
NUMBER BED/BATH
BED/BAN Sa. FT.
So. Fr. UNDIVIDED INTEREST
UNDIVIDED INTEREST
0 221 2BR/1BA
2 BR/1 BA 887 887/102,164
C
C 222 2BR/1-1/28A
2 SR/1-1/2 SA 887 887/102,184
8871102,164
THIRD FLOOR
c
C 301 2BR/1-1/2BA
2 SR 11-1/2 BA 887 887/102,164
C
C 302 2BR/1-1/2BA
2 SRI 1-1/2 SA 887 887/102,164
0 303 2BR/IBA
2 BR/1 SA 887 887/102,164
0 304 2BR/IBA
2 SR/1 SA 887 887/102,164
B 305 IBR/1BA
1 BR 11 SA 708 708/102,164
F 306 2BR/1-1/2BA
2 BR/1-1/2 BA 957 957/102,164
A 307 IBR/1BA
1 SR 11 SA 646 646/102,164
B 308 IBR/1BA
1 BR 11 BA 708 708/102,164
S
B 309 IBR/IBA
1 BR 11 BA 708 708/102,164
S
B 310 IBR/1BA
1 SR 11 BA 708 708/102,164
..
B 311 IBR/1BA
1 SR 11 BA 708 708/102,164
B 312 IBRt1BA
1BR/1SA 708 708/102,164
E
E 313 2BR/1-1/2BA
2 BR/1-1/2 BA 919 . 919/102,164
B
B 314
314 IBR/1BA
1BR/1SA 708
708 708/102,164
S
B 315 IBR/1BA
1 SR 11 BA 708 708/102,164
F 316
316 28R/1-1/2BA
2 SR 11-1/2 BA 957
957 957/102,164
A 317
317 1IBR/IBA
BR/1 SA 646
646 646/102,164
0
D 318
318 2BR/1BA
2SR/1 BA 887
887 887/102,164
S
B 319
319 1BR/IBA
1 BR/1 BA 708
708 708/102,164
C 320
20 2BR/1-1/2BA
2 BR 11-1/2 SA 887
887 887/102,164
o
0 321 2BR/1BA
2 SR/1 BA 887 887/102,164
P. C
C .
322 2BR/1-1/2BA
2SR/1-1/2SA .887
887 887/102,164
FOURTH FLOOR
-
. cC 401 2BR/1-1/2BA
2 BR/1-1I2 SA 887 887/102,164
C 402 2BR/1-1/2BA
2 SRI 1-1/2 BA 887 887/102,164
0 403 2BR/IBA
2 BR /1 SA 687
887 887/102,164
8871102,164
0o 404 28R/IBA
2SR/1 SA 887 . 887/102,164
B 405 IBR/IBA
1 SR 11 SA 708 708/102,164
F
F 406 2 BR/ 1-1/2 BA
BR 11-1/2 SA 957 957/102,164
957 / 102,164
A 407 1 SR/1
BR/I BA
BA 646 646/102,164
B 408 1BR/IBA
1 SR/1 SA 708 708/102,164
B
B 409 IBR/IBA
1 SR/1 SA 708 708/102,164
a
S 410 IBR/IBA
1 SR/1 SA 708 708/102,164
B
B 411 IBR/1BA
1 SR/1 SA 708 708/102,164
S
B 412 1 SR/1
1 BR/I BA
SA 708 708/102,164
E
E 413 22BR/l-1/2BA
BR/1-1/2 BA 919 919/102,164
B
B 414 IBR/1BA
1 SR/1 BA 708 708/102,164
·708/102,164
S
B 415 11BR/1BA
SR/1 SA 708 708/102,164
F
F . 416 2BR/I-1/2BA
2 SR 11-1/2 BA 957 9571102,164
957/102,164
A 417 1IBR/IBA
SR/1 SA 646 646/102,164
0 418 . 2BR/IBA
2BR/1SA 887 887/102,164
F:i
, I

tJ (

.
UNIT
UNIT UNIT UNIT
TYPE NUMBER BEDIBATH
BED/BATh SQ.
SQ. FT.
Fr. INTEREST
UNDIVIDED INTEREST
UNDIVIDED
B
B 419 IBR/IBA
1 BR/1 BA 708 708/102,164
C 420 2BRII-1/2BA
2 BR 11-1/2 BA 887 8871102,164
887/102,164
0
D 421 2BR/IBA
2 BR/1BA 887 887/102,164
C 422 2BR/1-1/28A
2 BR/1-1/2 BA 887 887/102,164
8871102,164
FIFTH
FIFTH FLOOR
C 501 2BR/1-1/28A
2 BR/1-1/2 BA 887 887/102,164
887/102,154
C 502 2BRI1-1/2BA
2 BR /1-1/2 BA 887 887/102,164
D '503
'503 2BR/IBA
2 BR/1BA 887 887/102164
887/102,164
0
D 504 2BR/1BA
2 BR/1BA 887 887/102,164
B
B 505 IBR/IBA
1 BR/1 BA 708 708/102,164
F
F 506 2BR/1-1/28A
2 BR/1-1/2 BA 957 957/102,164
A 507 IBR/IBA
1 BR /1 BA 646
546 646/102,164
546/102,164
B
B 508
505 1.BR/IBA
1BR/1BA 708 708/102,164 .

B
B 509 IBR/1BA
1 BR /1 BA 708 708/102,164
B
B 510 IBR/IBA
1 BR/1 BA 708 708/102,164
708/102,164
B
B 511 1BR/IBA
1 BR/1 BA 708 708/102,164
B
B 512 IBR/1BA
1 BR/1BA 708 708/102,164
708/102,164
E
E 513 2BR/l-1/2BA
2 BR /1-1/2 BA 919 919/102,164
919/102,164
B 514 IBR/IBA
1BR/1BA 708 708/102,164
708/102,164
B
B 515 1I BR/I
BR /1 BA
BA 708 708/102,164
708/102,164
F
F 516 2BR/I-1/2BA
2 BR /1-1/2 BA 957 957/102,164
A .
517 1IBR/iBA
BR/1 BA 646
546 646/102,164
646/102,164
D
O 518 2BR/IBA
2 BR/1BA 887 887/102,164
B
B 519 IBR/IBA
1 BR /1 BA 708 708/102,164
C 520 28R/1-1/2BA
2 BR /1-1/2 BA 887 887/102,164
0
D 521 28R/IBA
2BR/1BA 887 887/t02,164
887 /102, 164
c
C 522 2BR/l-1/2BA
2 BR /1-1/2 BA 887 887/102,164
SIXTH FLOOR
C 601 2BR/l-1/2BA
2 BR/1-1/2 BA 887 887/102,164
C 602
502 2BR/1-1/2BA
2 BR/1-1/2BA 887 887/102,164
D
O 603 2BRIIBA
2 BR/1BA 887 887/102,164
D
O 604
604 2BR/18A
2 BR/1 BA 887 887/102,164
8871102,164
B
B 605 1BR/IBA
1 BR/1 BA 708 708/102,154
708/102,164
F 606 2BR/1-1/28A
2 BR/1-1/2BA 957 957/102,164
A '607
607 BR/i BA
1 BR/1 BA 646 646/102,164
B 608 1BR/IBA
1 BR/1 BA 708 708/102,154
708/102,164
B
B 509
609 IBR/1BA
1 BR/1 BA 708 708/102,164
708 1102, 164
B
B I 610
510 IBR/IBA
1 BR/1 BA 708 708/102,154
708/102,164
B
B 611 1BR/IBA
1 BR /1 BA 708 708/102,164
B
B 612 IBR/IBA
1 BR /1 BA 708 708/102,164
'708/102,164
E
E 613 2BR/l-1/28A
2 BR/1-1/2 BA 919 919/102,154
919/102,164
B
B 614
514 1BR/IBA
1BR/1BA 708 708/102,164
B
B 615 IBR/IBA
1BR/1BA 708 708/102,164
F 616 2BR/1-1/2BA
2 BR /1-1/2 BA 957 957/102,164
 UNIT UNIT UNIT
TYPE NUMBER
NUMBER BED/BATH
Beb/BATH So. Fr.
Sa. FT. UNDIVIDED INTEREST
INTEREST
A 817
617 1BR/IBA
1 BR/1 BA 646 646/102,164
0 618 2BR/1BA
2BR/1 BA 887 887/102,164
B
B 619 IBR/1BA
1 BR /1 BA 708 708/102,164
708/102,164.
C 620 28R/1-1/28A
2 BR /1-1/2 BA 887 887/102,164
0 621
621 28R/1BA
2BR/1 BA 887 887/102,164
C 622 2BR/1-1/2BA
2 BR /1-1/2 BA 887 887/102,164

TOTAL 102,164 102,164! 102,164

102,164/102,164

A/I
All Square footages shown
shown are
are approximate.
approxImate.

BREAKDOWN:
UNIT BREAKDOWN'
TOTAL
UNIT UNIT NO. OF TOTAL UNIT
UNIT FRACTIONAL FRACTIONAL
TYPE AREA UNITS AREA SHARE EACH SHARE .

A
A 646 10
10 6,460 646/102,164 6,4601102,164
6,460 /102,164
B
B 708 57 40,356 708/102,164 40,356/102,164
C 887 24 21,288 887/10,164
887/102,164 21,288/102,164
,
D 887 . 21 18,627 887/102,164 18,627/102,164
E 919 5
5 4,595 919/102,164 4,595/102,164
F 957
957 10 9,570 957/102,164 . 9,570/102,164
G 1,268 1
1 . 1,268 1,268/102,164 1,268/102,164

T9TAL
TOTAL 128 102,164 102,164/102,164

All
All Square foota gas shown are
footages are approximate.
approxImate.
( (

SCHEDULE "3"

THE WAVE, A
A CONDOMINIUM
CONDOMINIUM

ESTIMATED OPERATING BUDGET FOR THE

CONDOMINIUM PROPERTY
 THE WAVE, A CONDOMINIUM. .

ESTIMATED OPERATING BUDGET FOR FISCAL YEAR

FIRST DAY OF MONTH IN WHICH DECLARATION IS RECORDED TO
LAST DAY OF THE FISCAL YEAR IN WHICH DECLARATION IS RECORDED
(SEE NOTE 3)

MONTHLY YEARLY
1. EXPENSES OFTHE
ASSOCIATION AND THE
CONDOMINIUM (SEE NOTE 1)

ADMINISTRATION OF THE
ASSOCIATION

Maintenance Cell Phone .

$ 50.00 $ 600.00
Legal $ 41.67 $ 500.00
Office Supplies $ . 125.00 $ 1,500.00
Permits and Licenses . $ 33.33 . $ 400.00
Postage . . $ 41.67 $ 500.00
Printing . . .
$ 8.33 . $ . 100.00
Bank Charges . .. . . $ 4.17 $ 50:00
Tolls and Mileage .
$ 20.00 $ 240.00

SALARIES AND WAGES

Employee Benefits $ 280.00 $ 3,360.00
Custodian $ 1646.67 $ 19,760.00
Maintenance Payroll . $ 1,906,67 $: 22880.00
Payroll Taxes and Overhead $ 1,066.00 .
1 12,792.00
Uniforms . $ 8.33 $ 100.00

MANAGEMENT FEES
(SEE NOTE 2) 1,920.00 $ 23,040.00

BUILDING REPAIR AND MAINTENANCE I

Carpet $ 83.33 $ 1,000.00
Door and Window Repair $ 41.67 $ 500.00
Fire Alarm System I Monitoring . $ 100.00 $ 1,200.00
Fire Extinguisher Service $ 16.67 $ 200.00
Janitorial Supplies $ 83.33 $ 1,000.00
Light Bulbs and Fixtures $ 41.67 $ 500,00
Lock Repair and Replacement $ 16.67 $ 200.00
Maintenance Supplies $ 41.67 $ 500.00
Painting Supplies $ 8.33 $ 100.00
Miscellaneous Repairs $ 125.00 $ 1,500.00
 ( (

I GROUNDS MAINTENANCE
Landscaping $ 1,435.00 $ 17,220.00
Planting I Repairs $ 125.00 $ 1,500.00
1,500.00.
Sprinkler System $ 83.33 $ 1,000.00

P~O~O=-LlY!MACJI~N::-,TE=lN~A~N~C=.E.,.--,
POOL
ll-l MAINTENANCE _ _......,.. 1

Pool Chemicals $ 150.00 $ 1,800.00

Pool Repairs $ 25.00 $ 300.00

I INSURANCE
INSURANCE
Flood Insurance $ 1,275.00 $ . 15,300.00
All Risk/Bond/D&O
RisklBond/D&O Liability $ 6,169.17 . $ 74,030.00

MISCELLANEOUS! OTHER
EXPENSES
Non-Budgeted Expense
xpense $ 500.00 $ 6,000.00
6,000.00

jFEES
IFEES PAYABLE TODIVISION $ 42.67 $ 512.00

IUTILITIES (SEE
(SEE NOTES
NOTES 1I AND 4)
Electiic
Electric $
$ 1,166.67 $$ 14,000.00
Water $
$ 1,683.33 $$ 20,200.00
Sewer $ 2,116.67 $ 25,400.00
Telephone Line Charge $
$ 250.00 $$ 3,000.00
Telephone Long
Long Distance $ 3.75 $ 45.00
Telephone Intercom
Intercom $$ 25.00 $ 300.00
Trash Removal $ 1,025.00 $ 12,300.00

RESERVES FOR CAPITAL

NOTE 5)
EXPENDITURES (SEE NOTE 5) $ 9,639.83 $ 115,677.94

RENT FOR RECREATIONAL AND OTHER

1cj
COMMONLY USED FACILITIES N/A
N/A N/A
N/A.

TAXES UPON
rAXES UPON ASSOCIATION N/A N/A..
N/A
PROPERTY

TAXES UPON LEASED AREAS

ITAXES AREA:' N/A N/A

SECURITY PROVISIONS
ISECURITY N/A N/A

OPERATING CAPITAL
IOPERATING CAPITAL N/A N/A

SUBTOTAL (WITH RESERVES)

/SUBTOTAL RESERVES) 33,425.58 . $ 401,106.94
$
 11.1. EXPENSESFORAUNIT
EXPENSES FOR A U. NIT
OWNER •

A. Rent for the unit, if subject

to a lease N/A
N/A N/A
N/A

B. Rent payable by the unit

owner directly
directly to
to the
the Lessor
for Recreational Lease N/A
N/A N/A
N/A

LESS RESERVES $ 9,639.83

,639.83 $ 115,677.94

TOTAL (WITHOUT
jTOTAL (WITHOUT RESERVES)
RESERVES) $ 23,785.75 $ 285,429.00

I,~:~
;'(~i
\\\. Developer has not established reserves
reserves in
in compliance
compliance with
with Chapter
Chapter718.618,
718.618,
relating to conversion reserve accounts.

oj
 :~. ,

( (

MONTHLY AND YEARLY MAINTENANCE

MAINTENANCE
UNIT (WF1H
FEES PER UNFI (WITH RESERVES)

UNIT TYPE MONTHLY YEARLY

A $$ 211.35 $$ 2,536.20
B $$ 231.64 $$ 2,779.67
C
C $$ 290.20 $ 3,482.41
D $ ·290.20
290.20 $$ . 3,482.41
E $$ 300.66 $ 3607.96
3,607.96
F
F $$ 313.10 $$ 3,757.17
G
C $$ 414.84 $$ 4,978.14

MONTHLY AND
AND YEARLY MAINTENANCE
FEES PER UNIT (WITHOUT RESERVES)

UNIT TYPE MONTHLY YEARLY

A $ 150.40 $ 1,804.77
B
B $ 164.84 $ 1,978.02
1,978.02
C $ 206.51
206.51 $ 2,478.09
0
D $ 206.51
206,51 $ 2,478.09
E
E $ 213.95 $ 2,567.43
2,567.43
F
F $ 222.80 $ 2,673.61
G $ 295.20 $ 3,542.46
~~ f)jL~ ~~ lli~~ ~~ ~~ ~~ ~~ ~~ ~~

Estimated Estimated Estimated Current [ Required.

Required
Life Remaining Replacement Balance in
in Reserve
(in years) Useful Life Cost Account Per Year

ROOFING 26 6 $ 100,000.00 $ - $ 16,666.67

16,666.67

FIREPROOFING/FIRE PROTECTION SYSTEMS 20 20 $

$ 200000.00
200,000.00 $ - 10,000.00
$ 10,000,00

ELEVATORS
ELEVATORS 30 30 $ 70,000.00
70,000 00 $ - $ 2,333.33

MECHANICAL (HVAC) 12 1:2

12 $ 25,00000
25,000.00 $ - $
$ 2,083.33

PLUMBING 60 18 $ 500,00000
500,000.00 $ - 27,777.78
$$ 27,777.78

ELECTRICAL SYSTEMS 62 20 $ 500,000.00

500,000 00 $$ - 25,000.00
$$ 25,000.00

SWIMMING POOL
POOL 62 20 $ 132,00000
132,000.00 $ -- $ 6,600.00

ANOPARKING LOT
PAVEMENT AND'PARKING 62 20 $ 100,000.00
100,00000 :$$ - $ 5,000.00

DRAINAGESYSTEMS
DRAINAGE SYSTEMS 62 20 $ 100;000.00 .
$ - $ 5,000.00

CORRIDOR CARPET
0,,;
. 15 15
15 .$$ 38,190.00 $ - $ 2,546.00

CORRIDOR WALL COVERNG

COVERNG 15 15 $ 35,000.00 $ - $ 2,333.33

PAINTING EXTERIOF
EXTERIOR 88 8 $ 82,700.00
82,70b.00 $ -- . $ 10,337.50
10,337.50

TOTAL . . $115,677.94
$ 115,677.94
 ( (

SCHEDULE"4'
SCHEDULE "4"

THE WAVE,
WAVE, ACONDOMINIUM

FORM OF PURCHASE AGREEMENT UTILIZED IN THE SALE

OF CONDOMINIUM UNITS
 NOTES TO THE ESTIMATED
ESTIMATED OPERATING BUDGET
BUDGET FOR
FOR
THE WAVE CONDOMINIUM

NOTE
NOTE 1:.
1:. By definition,
definition, a Budget
Budget isis an
an estimate expenses; However,
estimate of expenses. However, actual
actual expenses
expenses incurred
incurred
may be be either more or less
either more less than
than the
the estimated expensesset
estimated expenses set forth
forth inin the
the Budget.
Budget. The
Developer and
Developer and the
the Association
Association cannot
cannot andand do
do not
not make any representation warranty
representation or warranty
that actual
that actual expenses
expenses willwill not
not increase
increase as as a result
result of
of inflation, etc. Furthermore,
inflation, etc. Furthermore, if the the
estimated expenSes
estimated expenses in in certain
certain categories
categories ofof the Budget,
BUdget, for example:
example: waterwater oror electricity,
electricity,
are less
less than
than the
the actual
actual expenses
expenses incurred
incurred for those
those categories,
categories, then
then thethe excess
excess will
will be
be
used to off-set
off-set deflcits
deficits occurring
occurring inin the
the categories
categories ofof the
the Budget
BUdgetwhere
where actual
actual expenses
expenses
the estimated
exceed the estimated expenses.
expenses.

NOTE 2:'
NOTE The Association
Association haá
has not entered into a management
entered into agreement. However,
management agreement. However, the
the Budget
Budget
sets forth
forth certain
certain sums
sums for management. In the
formanagement. the event
event the
the Association
Association enters
enters into a
management agreement,
management the expenses
agreement, the expenses for this item will be
be increased
increased or
or decreased.
decreased.

NOTE 3:
NOTE 3: to Section 718.116
Pursuant tei 718.116 (9)(a)2, Florida Statutes,
(9)(a)2, Florida Statutes, the
the Developer has guaranteed that
the Unit
Unit owners
owners monthly
monthly Assessment
Assessment for for Common
Common Expenses
Expenses ofofthe Condominium
the' Condominium
imposed on
imposed on all Unit
Unit Owners
Owners will
will not
not increase, over the
increase. over the amounts
amounts set forth
forth below for the
the
period
period beginning upon recordation
beginning upon recordation ofof the
the Declaration and ending
Declaration and ending twelve
twelve (12)
(12) months
months
thereafter, and has obligated
thereafter, and itself to pay any
obligated itself any amount
amount ofof Common
Common Expenses
Expenses incurred
incurred
during that period not produced
produced by the Assessments
Assessments at the guaranteed
guaranteed level
level receivable
receivable
from other Unit Owners. The
The amount
amount of
ofthe
the Assessment
Assessment guarantees
guarantees for
for each
each Unit
Unit owner
owner
for the guarantee period is the monthly maintenance
maintenance fee
fee amount set forth as follows:'
follows:

Monthly and
and Yearly Maintenance
Fee Per Residence:

UNIT TYPE MONTHLY YEARLY

A $$ 150.40 $ 1,804.77
B $ 164.84 $ 1,978.02
C $$ 206.51 $ 2,478.09
D $ 206.51 $ 2,478.09
E
E $ 213.95 $ 2,567,43
2,567.43
F $ 222.80 $ 2,673.61
G $ 295.20 $ 3,542.46

NOTE 4: Each
Each Residence shall be separately
Residence shall separately billed
billed for electricity,
electricity, real
real estate
estate taxes,
taxes, personal.
personal
property
property taxes,
taxes, telephone charges, charges. In
charges, cable television charges.. future, if water and
In the future,, and
sewer charges are sub-metered, they will
will then
then also
also be
be billed separately.

NOTE 5: This budget

bUdget has been estimated based upon
estimated pased upon buildings
buildings of
of aa similar
similar size.
size. However,
However, these
these
charges are
.charges are estimates
estimates of future
future costs
costs that
that may
may vary.
vary (increase
(increase or or decrease)
decrease) andand
accordingly,
accordingly, no representation
representation isis made or implied that this
this budget
bUdget isis complete,
complete, accurate,
accurate,
or all
all encompassing,
encompassing. TheThe budget
budget will
will need
need toto be
be adjusted
adjusted once
once the
the buildings
buildings are fully
fully
and costs
occupied and costs are
are stabilized,
stabilized.' ' - v
 ( (

ORAL REPRESENTATIONS
ORAL CANNOT BE
REPRESENTATIONS CANNOT BE RELIED
RELIED UPON
UPON AS
AS CORRECTLY
CORRECTLY STATING
STATING THE REPRESENTATIONS OF THE
REPRESENTATIONS OF THE
DEVELOPER. FOR
DEVELOPER. FOR CORRECT
CORRECT REPRESENTATIONS, REFERENCESHOULD
REPRESENTATIONS, REFERENCE SHOULD BEBE MADE
MADE TO
TO THIS
THIS CONTRACT AND THE
CONTRACT AND THE
DOCUMENTS REQUIRED
DOCUMENTS REQUIREDBYBY SECTION
SECTION718.503,
718.503,FLORIDA
FLORIDASTATUTES,
STATUTES,TO
TOBE
BE FURNISHED
FURNISHED BY
BY A
A DEVELOPER
DEVELOPER TO AA
PURCHASERORLESSEE.
PURCHASER OR LESSEE.

CONTRACT FOR PURCHASE AND SALE

ThE.WAVE,
THEWAVE, AA CONDOMINIUM
CONDOMINIUM

Seller/Developer:
Seiler/Developer: SKYRE, LLC, a Florida limited
limited lIabiiity
liability company
company

Purchaser(s):

Social Security
Social #:
Securlly #: _ Security #:
Social Security
Social #: _ Marital Status:
Marital Status: _

Contract Date:
Contract Date: _

Mailing Address:
Mailing Address: ~ -:- _

Home Phone:
Home Phone: _ VVorkPhone:
Work Phone: _ Fax:
Fax: _

Condominium Unit
Condominium Unit Number
Number -'-. Closing Date:
Date: -.,.

In consideration
consideration of the purchase price
price specified
specified below,
below, the mutual
mutual covenants
covenants and benefits
benefits provided
provided for
for herein
herein and
and other
bther good
good and
and
consideration, the receipt
valuable consideration, receipt and sUfficiency of
and sufficiency of which Is
is hereby
hereby acknowledged by the
acknowledged by the parties
parties hereto,
hereto, the
the parties
parties hereto hereby
hereto do hereby
as follows:
agree as follows:

1. GENERAL.
GENERAL. Seller agrees
agrees to
to sell,
sell, and
and Purchaser
Purchaser agrees
agrees to
to purchase,
purchase, inin accordance
accordancewith
with the
theterms
termsand
andconditions
conditionsof
of
this Contract
Contract for
for Purchase
Purchase and
and Sale
Sale ("Contract"),
("Contract"), the
the Unit
Unitreferenced
referenced above
above ("Unit")
("Unit") ofofTHE
THEWAVE,
VVAVE,A ACONDOMINIUM
CONDOMINIUM
("Condominium"). The
("Condominium'), The Condominium
Condominium is Is or shall
shall be
be created
created pursuant
pursuant to
to the
the Declaration
Declaration ofofCondominium
Condominium for
for THE
THE WAVE,
WAVE, AA
CONDOMINIUM ("Declaration"), which
CONDOMINIUM ("Declaration"), whichisis or
or shall
shall be
be recorded
recordedininthe
thepublic
publicrecords
recordsofofPinellas
PinellasCounty,
County,Fiorida.
Florida. The
The Unit,
Unit, together
together
with
with its
its percentage
percentage of
of undivided
undivided interest
interest in
In the
theCommon
Common Elements
Elements of ofthe
the Condominium,
Condominium, isismore
moreparticularly
particularly described
described inin the
the
TheUnit
Declaration. The Unitshall
shallbe
bepurchased
purchased for
for the
the purchase
purchase price
price and
and under
under the
the terms
terms and
and conditions
conditions set
set forth
farth below and elsewhere
elsewhere
this Contract,
in thIs Contract.

Unit Price: . $:-----

$
Other
Other. , . $:--~­
$
Purchase Price:
Total Purchase Price:
Deposit Made This Date'
Date: ,
.
.
$:-----
$
$:-,--.,.---
$
Additional Deposit
Depasit Due ao:
Due on: . $,-----
Proceeds of
Proceeds of"Mortgage Loan", ifif any
"Mortgage. Loan', . $
$ ,-----
Balance Due At Closing , , . $ ,-----
$
Monthly Condominium Maintenance Charge . $
$ -----
Contribution to Condominium Working Capital Fund
Fund , .. $
$ ,-----
2. PURCHASE PRICE.
PURCHASE PRICE. TheThe total purchase
purchase price price olthe
of the Unit
Unit shall
shallbebeasasset
setforth
forthln Paragraph 1I above, and shall be
in Paragraph be
follows:
paid as follows:
(a) All deposits
(a> deposits made
made by by Purchaser
Purchaser under under Paragraph
Paragraph 11 ("Earnest
("Earnest Money")
Money") shallshall be
be consideration
consideration for for Seller
Seller
reserving'the
reserving Unit for
the Unit Purchaser. Notwithstanding
for Purchaser. anythingtoto the
Notwithstanding anything the contrary
contrary herein,
herein, none
none of of the
the monies
monies received
received by by Seller for far
upgrades to
upgrades to the
the Unit,
Unit, Ifif any,
any, shall
shall be
be deemed
deemed Earnest
Earnest MoneyMoneywithin
withinthethemeaning
meaningof ofthis
thisParagraph
Paragraph22of ofthe
theContract.
Contract. The The Earnest
Earnest
Money shall
Money shall be deposited
deposited In in the
the Escrow
Escrow Account
Account of of Royal
Royal Title
Tille and
and Escrow
Escrow Company
Company ("Escrow('EscrowAgent")
Agent")pursuant
pursuanttotoSectionSection
718.202,
718.202, Florida
Florida Statutes
Statutes and and anan Escrow Agreement
Agreement between
betweenSellerSellerand
andEscrow
EscrowAgent.
Agent. Such Escrow Account Account shall
shall bebe designated
designated
for the deposit of of earnest monies receivedreceived by Seller with respect to units units within THE WAVE, VVAVE, A A CONDOMINIUM,
CONDOMINIUM, and and shall not be
commingled with any other funds funds of Seller. The mailing
Seller. The mailing address
address of the Escrow Agent is 555 Northeast 15 Street, Street, Miami,
Miami, FL 33132.
FL 33132,
notices and
All notices and claims
claims of of Purchaser
Purchaser withwith respect
respectta to the
the aforesaid escrow deposits
aforesaid escrow deposits shall
shall bebe sent
senttotothetheEscrow
EscrowAgentAgentatatits itsaddress
address
set forth
set forth above.
above. Escrow
EscrowAgent Agentshall
shallgive
givePurchaser
Purchaseraareceiptreceiptforforhis
hisdeposit
depositupon uponhis
hisreq.
request .If Purchaser
uest. If Purchas.er terminates this Contract ~ontract
without defaulting,
defaUlting, Seller shall refund all deposits.deposits. Unless specifically set
Unless specifically set forth
forth herein
herein toto the
the contrary,
contrary, anyany and
and all
all interest
interest earned
earned on on
escrow funds shall be paid paid to Developer
Developer andand shall
shall bebe deemed
deemed the the Developer's
Developer's solesole property.
property. If If Purchaser
Purchaser defauits,
defaults, Seller shall be
entitled to retain
entitled retain all deposits together
all deposits together with
with anyanyinterest
interestactually.
actually.accrued
accrued thereon. Purchaser will
thereon.Pur5:haser will ,be
be required
required to to authorize
authorize
disbursementof
disbursement of escrowed
escrowedfunds fundsby bythe
theEscrow
EscrowAgentAgenttotoSeller
Selleratatclosing.
cIosin. Prior
Prior to
todisbursing
disbursing Earnest
Earnest Money in the event event of aa
default hereunder,
hereunder, Escrow Agent Agent shall
shall give
give all
all parties
parties fifteen
fifteen (15)
(15) days
days notice,
notice, stating
stating toto whom
whom the the disbursement
disbursementwill willbe
bemade.
made. Any
party may object in writing to the the disbursement,
disbursement, provided
prOVided the objection
objeclion is received
received by Escrow
Escrow Agent prior to to the
the end
end ofofthethe fifteen
fifteen
(15) day notice period.
period. All All objections
objections notnot raised in a timely manner shall shall be
be waived.
waived. In the event a timely objection objection Is Is made,
made, Escrow
Escrow
Agent shall
Agent shall consider
consider the objection
objection andand shall
shall do
do any
any or or aa combination
combination of ofthe following: (i) hold the
the following: the Earnest
Earnest Money for aa reasonable
reasonable
period of time to give
period give the the parties
parties anan opportunity
opportunity to to resolve
resoive thethe dispute:
dispute; (ii)
Oil disburse
disburse thetheEarnest
Earnest Money
Money and and sosonotify
notifyallallparties;
parties;
(iii) interplead
and/or (iii) interplead the the Earnest
Earnest Money
Money intointo aa court
court ofof competent
competentjurisdiction.
jurisdiction. Escrow
Escrow Agent
Agent shall
shall bebe reimbursed
reimbursed for for its
its costs
costs and
and
expenses,
expenses, including
including reasonable
reasonable attorneysl
attorneys' fees. The prevailing
fees. The prevailing party in the interpleader action actlon shall be entitled to to collect
collect from theflthe
other party
other party thethe costs
costs andand expenses reimbursedtoto Escrow
expenses reimbursed EscrowAgent.Agent. No partyparty shall
shan seek
seek damages
damages from from Escrow Agent (nor
Escrow Agent (nor shall
shall

_ _ _ _ Proc.
Proc. Mgr.
Mgr. Initials:
_ _ _ Purchaser
_ _ _ Purchaser
Escrow Agent be liable for the same)
same) for
for any
any matter
matterarising
arising out
out,of orrelated
of or related to
to the
the performance
performanceofofEscrow
EscrowAgent's
Agent'sduties
dutiesunder
underthis
this
Earnest Money paragraph.
Maneyparagraph.

(b) The balance of the purchase

purchase price and all other amounts
price and amounts due
due including
including but
but not
not limited
limited to
to fees
fees and
and costs
costs
shall be paid by certified check at the time of
of Closing.

3. PRORATIONS.

Ad Valorem Taxes.

(i) Purchaser acknowledges that, as of the year in which blosing takes place, the Unit may not
have been a separately described and assessed unit of real estate and that, in that event, ad valorem taxes for the Unit for the year
in which Closing takes place may be assessed under a tax bill in the name of Seller which covers additional Unit. Should the Unit
not be separately described and assessed parcel of real estate, Purchaser agrees to pay Seller at Closing that portion of the tax for
the year in which Closing takes place (based on the prior year if the tax bill for the year in which Closing takes place is not yet
available) which shall be determined by multiplying the total tax bill by the percent interest in the Common Elements assigned to the
Unit in the Declaration and then prorating the product of such multiplication as of the date .of Closing. Seller agrees to pay the entire
tax bill before it becomes delinquent and, upon written request from Purchaser or any first mortgagee of the Unit, to provide
Purchaser or such mortgagee proof of payment. If the amount allocated to the parties is based upon an estimate and the actual bill
varies from the estimate, the party who paid too much shall have the right to adjust the prorated amount and within ten (10) days of
receipt of notice the party who paid too little shall pay any increased amount based on the actual tax bill to the other party. All such
assessments shall be made based on a November payment discount

(Ii)
(U) If, in the year in which Closing takes
which Closing takes place,
place, the
the Unit is a separately described
described andand assessed
assessed
unit of real estate, then ad valorem taxes applicable to to the
the Unit
Unit shall
shall be prorated between the SellerSeller and Purchaser
Purchaser as as ofof the
the date
date of
of
Closing. If the amount allocated to Purchaser
Closing. Purchaser is is based
based upon
upon an
an estimate
estimate and the actual billbill varies
varies from the
the estimate,
estimate, thethe party
party who
who
paid too much shall have the right
right to adjust
adjust the
the prorated
prorated amount
amount and
and within ten
ten (10)
(10) days
days ofofreceipt
receipt of
ofnotice,
notice. the
the party
partywho
who paid
paid too
little shall pay any increased amount based on the actual tax bill to the other party. All such
party: All suchassessments
assessmentsshall
shallbebemade
madebased
basedon on aa
dis~ount.
November payment discount.

(b) Assessments.

(i) Purchaser shail shall pay his or her propro rata share of
rata 'share of the
the common
common expense
expense assessment
assessment levied
levied
against the
against the Unit, as provided
provided in in the
the Declaration,
Declaration, for for the
the month
month inin which
which the
the Closing,
Closing, shall take place, place, which
which common
common expense
expense
assessment shall
assessment shall be
be adjusted
adjusted at at Closing
Closing according
according to to the
the number
number of of days
days'remaining
remaining inin the the month.
month. Except
Except for for that
that portion
portion of
of the
the
assessment installment
assessment installment as
as shall
shall be
be payable for the the month
month inin which
which the
the Closing
Closing shall
shall take
take place,
place, which
which shall
shall be beprorated
prorated between
between
Seller and
Seller and Purchaser
Purchaser as as of the
the dayday of
ofClosing,
Closing,such suchadjusted
adjusted common
common expense
expense assessment
assessment shall be be payable
payable to to The
The Wave
Wave
Condominium Association of of St.
St. Petersburg,
Petersburg, Inc. ('~Association"), by
Inc. ('tAssociation"), byPurchaser
Purchaser in in equal
equalmonthly
monthlyinstallments,
installments,commencing
commencing on onthethe
of the
first day of the calendar
calendar month
month immediately
immediately following
following thethe date
date of
of Closing,
Closing, or
or as
as otherwise
othelWise provided
provided by by the
the Board
Board of ofDirectors
Directors ofofthe
the
Association. From
Association.. From and
and after
afterthe
thefirst
firstday
dayofofthe
thefirst
firstcalendar
calendarmonth
monthof ofthe
theyear
yearfollowing
following the
theyearyearininwhich
whichthe theClosing
Closingtakes
takesplace,
place,
Purchaser shall
shall pay all amounts as are assessed against the Unit in accordance accorclancewith with the tenns
terms and provisions of the Declaration.
Declaration.
Purchaser agrees
agrees and acknowledges that there will be a lien against the
and acknowledges the Unit
Unit for
for any
any assessment,
assessment not not paid
paid toto the
the Association.
Association.

(c) Contribution to Capital of Association.

Contribution to In addition
Association. In to all other sums
addition to sums due hereunder,
hereunder, Purchaser
Purchaser agrees
agrees at
Closing
Closing to
to make
make a non-refundable contribution to
nonMrefundable contribution to the
the capital
capital of the
the Association
Association inIn an
an amount equal to
amount equal to two (2)
(2) months
months general
general
assessments on the Unit, at the time of closing.

4.
4, TITLE.

(a) Purchaser acknowledges that the Unit he or she she is

is to
to purchase
purchase may
may not
not now be
be aa part
part of
of the
the Condominium
Condominium
until the Declaration is recorded.
Declaration is recorded. Prior
Prior to
to consummation
consummation of of the
the sale
sale contemplated
contemplated by by this
this Contract,.
Contract, Seller
Seller shall
shall have
have submitted
submittedthe· the
Declaration of
Unit to the Declaration of Condominium..
Càndominium. Title toto the
the Unit
Unit shall
shall be
be conveyed
conveyed.to to Purchaser by special
special warranty
warranty deed,
deed, and
and title
title to
to the
the
Unit shall be insurable or marketable and
and free and clear of all encumbrances,
encumbrances, except
except as
as provided
provided in
in SUbparagraph
subparagraph (b) (b) below.
below.

(b) It is understood and agreed that Purchaser is purchasing

purchasing the above referenced Condominium Unit, SUbject
subject
to the items as hereinafter
hereinafter stated, and that title
title to
to the
the Unit
Unit which
which the
the Purchaser
Purchaser shall acquire
acquire pursuant
pursuant to
to this Contract
Contract shall
shall be
be good,
good,
andlor insurable, subject
marketable and/or sUbject only to the following:

(i) Conditions, restrictions, limitations;

llmitations; reservations, dedications, easements, licenses,
licenses, existing
zoning ordinances and other
other rights
rights of
of governmental
governmental bodies
bodies and
and instruments
instruments of
of record,
record, including,
including, but
butnot
notlimited
limitedto,
to,water,
water,sewer,
sewer,
gas, electric and other utility agreements ofof record.

_ _ _ _ Proc.
Prac. Mgr.
Mgr. Initials:
_ _ _ Purchaser
_ _ _ Purchaser
 (ii)
(H) Facts which an accurate survey
surveyor inspection of
or personal inspection of the
the Unit
Unit would
would disclose.
disclose.

(iii)
(lU) Taxes for the current year and subsequent
sUbsequent years,
years.

(Iv) Covenants, conditions,

Covenants, conditions,restrictions,
restrictions,terms
termsand
and other
other provisions as set
provisions as set forth
forth in the
in the
Declaration of Condominium
Deciaration Condominium for THE WAVE, A A CONDOMINIUM,
CONDOMINIUM, and its exhibits
exhibits and
and Bylaws
Bylaws and
and Articles
Articles of
ofIncorporation
Incorporation of
ofthe
the
The Wave Condominium Association
Association of Sl
St Petersburg,
Petersburg, Inc.

(v) purchase money

Any purchase money mortgage executed
executed by Purchaser
Purchaser in
in connection
connection with the Closing
with the Closing of
of
this transaction.

(vi) standard policy

All standard policy exceptions
exceptions and
and provisions
provisions as
as may
may be
be contained
contained in
in the
the A.L.T.A.
A.L.T,A. owner's
owner's
policy of title insurance and standard exceptions
exceptions for
for waterfront
waterfront property.
property. .

(ix) Any other

Any other items
items as
as disclosed
disclosed in
in the
the prospectus.
prospectus.

(c). BESPA
(c) RESPA Disclosure,
Disclosure, As required
required by by the
the Real
Real Estate
Estate Settlement
Settlement Procedures
Procedures ActAct of
of 1974,
1974, Purchaser
Purchaser
acknowledges that Seller has not directly or indirectly
acknowledges indirectly required
required Purchaser, as a condition ,of of sale,
sale, to
to purchase
purchase either
either a fee owner's or
mortgagee's title
mortgagee's title Insurance
insurance policy
policy from
from any
any particular
particular title
title company.
company. Purchaser may elect to obtain obtain such insurance,
insurance from
from aa company
company
Purchaser's choice
of Purchaser's choice and Purchaser shall
shalt pay,
pay, at Closing,
Closing, thethe title
title insurance
insurance premium
premium for
for such
such policy.
policy.

5,
5. CLOSING DATE.
CLOSING DATE. It is mutually agreed that the closing
agreed that closing of the the Unit
Unit (the
(the "Closing")
"Closing") shallshall bebe held
held onon or
orbefore
before thethe
Closing Date set forthforth on the first page hereof
hereof at the office ofof or
or as otherwise directed by the Seller Seller in the "closing notice". If no date
provided, then
is provided, then the
the Closing Date will be the later of (a) on or before thirty (30) (30) days
days from
from the
the effective date of this this Contract
Contract or (b) on
a date after thethe presale contingency has been met, with the the Closing Date to be be determined
determined, by by Seller
Seller asas follows:
follows: The Thespecified
specified date,
date,
time and
time and place
place for Closing
Closing shall
shall be
be designated
designated byby the
the Seller
Seller inin writing,
writing, whlchwritlng
which' writing isiscalled
calledthethe"closing
"closingnotice"
notice" given
given toto the
the
Purchaser in
Purchaser in accordance
accordance with the terms hereof.. hereof. Purchaser
Purchaser understands
understands that that Purchaser
Purchaser will receive
receive at at least
least five
five (5)
(5) business
business daysdays
notice of the date,
notice date, time and
and place
place ofof Closing.
Closing. Purchaser
Purchaser further
further understands
understands that that Purchaser
Purchaser willwill not
not have
havethe the right
right to
topostpone
postpone the the
date,
date, time
time of Closing
Glosing for anyany reason
reason without
without Sellers
Seller's approval
approval In its its sole
sole discretion.
discretion. Seller will have the right,
Seller will right, however,
however, ifif Seller
Seller
decides that it is necessary
necessary or or desirable,
desirable, toto delay
delay or
or reschedule
reschedule the the Closing
Closing by by giving
giving Purchaser
Purchaser at at least
least three
three (3)(3) days
days prior
prior notice
notice
date, time
of the new date, time and/or place prior to the rescheduled
rescheduled Closing. Seller has no liability to Purchaser for delaying reschedufing
delaying or rescheduRng
the Closing.
Closing. A change of of time
time or
or place
place ofofclosing
closing only
only(and
(and notnotone
oneinvolving
involving aachange
change of ofdate)
date)willwillnot
notrequire
requirean anadditional
additionalnotice
notice
period. Any
period. Any formal
formal notice of.closing,
of.c1osing, postponement
postponement or or rescheduling
rescheduling may be be given
given orally,
orally, by
by telephone,
telephone, telegraph,
telegraph, e-mail,
e-niall, overnight
overnight
delivery, personal
.delivery, personal delivery
deliveryor or by·
by facsimile.
facsimile.All
All of
of these
these notices
notices willwill be
be sent
sent or or directed
directed toto the address,
address, or given given by use of of the
the
information specified on page
information spec.ifiedon page 1 of this Contract unless Seller has received written notice
received written notice from
from Purchaser
Purchaser of of any
any change
change at at least
least 55
days prior to the date the noticenotice isis given.
given. These
These notices
notices will
will be
be effective
effective inin the
the date
date given
given oror mailed
mailed (as (as appropriate).
appropriate). An An affidavit
affidavit ofof
one of Seller's employees or
Sellers employees or agents
agents (including
(including any
any settlement
settlement agent)
agent) stating
stating that
that this
this notice
notice was
was given
given or or mailed
mailed willwill be
be conclusive.
conclusive.
If after Seller notifies Purchaser of of the date, time and place for Closing, Purchaser fails to close for any reason at that date, time time andand
and to
place and to pay the balance of of the Purchase
Purchase Price and all other amounts that Purchaser owes owes under this this Contract,
Contract, at at Seller's
Seller's sole
sole
discretion, Seller willwill be entitled
entitled to do either of the following.
following. Under
Under no no circumstance
circumstance will the closing closing occur
occur more than than 2 years
years from
from
the date of this contract.
contract,

6, CLOSING COSTS. COSTS, A A sum equal to to one

one andand three-quarter
three-quarter (1(1 j<%) 'a) percent
percent of ofthe
thepurchase
purchase price
price payable
payable inin cash
cash or by
cashier's check, from which sum sum Seller
Seller shallpay
shall,paythe thecost
costofofrecording
recordingthe theDeed,
Deed,documentary
documentarystamps stampson onthethetransfer,
transfer,other transfer
6thertransfer
costs,
costs,· and
(ind the owner's policy of of title
title insurance
insurance described
described herein; a simultaneous
simultaneous mortgageemortgagee commitment
commitment and and policy,
policy, in
in an
an amount
amount
up tothe
to -thepurchase
purchase price
priceforforananadditional
additional$250.00
$250.00 fee; fee; anyanyendorsements
endorsements required required by by the Lender
Lender at the the minimum
minimum risk risk rate;
rate;
reimbursement to Seller for for any
any utility,
utility, cable
cable ororinteractive
interactive communication
communication deposits deposits or or hook-up
hook-up fees
fees which
whichSeller
Sellermay
mayhave
have advance
advance
prior to closing
closing for the Unit; and the ate late funding
funding charge,
charge, ififany,
any, provided
firovided in in paragraph
paragraph 7 .7 below.
below. Notwithstanding
NotWithstandinganything
anything contained
contained
herein
herein to the contrary, ifif Purchaser
Purchaser notifies
notifies Seller
Seller within
within thirty
thirty (30)
(30) days
days prior
prior toto the
the closing
closing date
datethat
thatPurchaser
Purchaserdoes does not
notdesire
desire on on
owner's polley
policy of title insurance or or desires
desires to to have
have such
such policy
policy issued
issued by by aa title
title company
companyother otherthan
thanthat
thatfurnished
furnishedby bySeller,
Seller, then,
then,inin
that event,
event, Purchaser
Purchaser shall
shall be credited
credited at at closing
closing in in an
an amount
amount equalequal to to the
themail-in
mail-inpremium
premiumbased
basedupon uponthe thepromulgated
promulgated title title
insurance rate, including
insurance rate, including anyany reissue
reissue credits
credits thereon,
thereon, ifif any.
any. (No
(No title
title evidence
evidence will will be
be prOVided
provided andand Seller will not pay for any
Seller will any
abstracting charges.) In
abstracting charges.) In addition,
addition, Purchaser
Purchaser will pay pay closing
closing fees,
fees, examination
examination fees, fees, Lender's
Lender's title
title insurance
insurance fees
fees including
inclUding
endorsements,
endorsements, lender lender fees,
fees, recording
recording fees fees for
for the
the mortgage
mortgage including
including taxestaxes,.thereon
thereon and and Purchaser's attorney's fees
Purchaser's attorney's fees ifif any.
any.
Purchaser shallshall pay all costs and and fees
fees incident
incident to to the
the securing
securing of offinancing
financing and and thethe closing
closing of ofthe
thepurchase
purchaseand andsale
salecontemplated
contemplated
hereunder not not specifically assigned to the Seller induding, including, but but not
not limited
limited to to mortgage insurance
insurance premiums, escrow deposits, $75.00
key charge,
key prepaid interest,
charge, prepaid interest, including,
including, but but no:t
nqt limited
limited to, to, all discount
discount points
points required
required. by any any lender,
lender, anyany fees
fees associated
associated. withwith
financing regarding the purchase of the Unit, intangible
ofthe intangible tax tax and fees, ifif applicable.

7. CLOSING DOCUMENTS,
DOCUMENTS. Purchaser
Purchaser also
also agrees
agrees to to execute
execute any
any closing
closing statements
statements, oror other
other documents
documents which which may
be required
be reqUired inin connection with the
connection with the closing.
closing. In the
the event
event the
the closing
closing isis not
not completed
completed on on the
the date set forth
date'set forth ininthe
theclosing
closing notice,
notice,
shall pay to Seller interest
Purchaser shall interest on
on the
the unpaid
unpaid balance
balance of
of the
the purchase
purchase price
price at
at the
the highest
highest rate
rate permitted
permitted by bylaw
law from
from the
the date
date
EL set forth
forth in
in the
the closing
closing notice
notice until
until the
the actual
actualclosing
closingoccurs
occursand
andPurchaser
Purchasershall
shallbe
beresponsible
responsiblefor forattorney's
attorney'sfeesfeeson onother
othercharges
charges

_ _ _ _ Proc
Proc. Mgr.
Mgr. Initials:
Initials:
_ _ _ Purchaser
_ _ _ Purchaser
 ( (

incurred by Seller as a result

result of
of rescheduling
rescheduling thethe closing,
closing. For
For purposes ofof calculating
calculating prorations
prorations at
at closing,
closing, the date specified in the
specified in the
closing notice shall be the date of of closing. Notwithstanding
Notwithstanding the foregoing,
foregoing, Purchaser acknowledges that in the provisions hereof,
hereof, and
and
Sell may exercise all remedies
exercise alf remedies available
available toto it under paragraph
paragraph 8(a)
8(a) hereof.
hereof. Payment
Payment atat closing
closing must
must be inin United
United States certified
certified.
funds only. Seller shall provide aa Special
Special Warranty DeedDeed at closing.

8. DEFAULT.

Purchasers Default.
.(a) Purchaser's Default. Purchaser
Purchaser shall be in default default under
under this this Contract
Contract inin the
the event
eventthat (1) Purchaser
that (1) Purchaser fails
faiis
or refuses to complete and execute execute all all of
of the
the instruments
instruments cequired
-required of Purchaser under this Contract promptly or when when requested
requested to to
lender, ifif applicable; or (2)
do so.by Seller or tender, (2) Purchaser
Purchaser fails to or refuses refuses to make make timely
timely payment
payment of of any
any payments
payments required under
this Contract; or (3) Purchaser
Purchaser in in any
any other
other manner
manner failsfail.s to
to or
or refuses
refuses totoperform
performhis hisobligations
obligationsunder
underthis thisContract.
Contract. In the the event of
any such default by Purchaser, Seller shall give give Purchaser
Purchaser written notice of of such
such default
default and
and allow
allow seven
seven (7) (7) days
days from
from the
the date
date of
of
such notice for Purchaser to cure such such default.
default. If Purchaser
Purchaser shall shall fail
fail to cure such defaultdefault within such seven (7) day period, period, the
Setter shall, and
Seller shall, and does
does hereby have, the unrestricted option to: (1) consider the Purchaser Purchaser in in default
default under
under this
this Contract; (2) retain all
Contract; (2)
sums paid
sums paid to itit hereunder
hereunder as as agreed
agreed uponupon andand liquidated
liqUidated damages damages and and in fullfull settlement
settlement of of any
any claim
claim forfor damages;
damages; and, and, (3)
(3)
terminate all
terminate all rights
rights of purchaser
Purchaser under this Contract Contract and, and, thereupon,
thereupon, the the parties hereto will
parties hereto will be
be released
released and and relieved
relieved from
from all
all
obligations hereunder.
obligations hereunder. The Theprovisions
provisionshereinhereincontained
contained for forliquidated
liquidated andand agreed
agreed upon upondamages
damagesare arebona
bonafidefideprovisions
provisions forforsuch
such
penalty, the parties understanding that by reason of the withdrawal of
and are not a penalty, of the Unit
Unit from sale
sale tot6 the general
general public
pUblic at a time
when other parties would be be interested
interested in in purchasing
purchasing the Unit, that will· have
that Seller will have sustained
sustained damages
damages ifif Purchaser
Purchaser defaults, which which
damages will be substantial
substantial but but will
will not
not bebe capable
capable of ofdetermination
determination with with mathematical
mathematical precision
precision and,
and, therefore,
therefore, as as aforesaid,
aforesaid! the
the
provisions liquidated and
provisions for .liquidated and agreed
agreed upon
upon damages
damages have have beenbeen incorporated
incorporated into into this
thisContract
Contractas asprovisions
provisionsbeneficial
beneficial totoboth
both
parties hereto. Purchaser
Purchaserand andSeller
Sellerrecognize
recognizethe theimpossibility
impossibilityof ofmeasuring
measuringSeller'sSeller'sdamages
damagesififPurchaser
Purchaserdefaults.
defaults. In In the event
any litigation
any litigation oror arbitration
arbitration is is commenced
commenced as as aa result
result of this this Contract
Contract and and Setter
Sefler prevails
prevails in such
such litigation
litigation or arbitration, the
arbitration, the
shall also
Purchaser shall also be
be liable for Seller's attorneys' fees fees andand costs
costs resulting
resulting therefrom.
therefrom.

(b) Sellers
Seller's Default
DefauilIfIfSeller
Selierdefaults
defaults in
in the
the performance
performance of of this
this Contract
Contract;Purchaser
Purchasershall
shali give
give Seller
Seller written
notice of such default,
default, and ifif Seller,
Seifer, within
within seven
seven (7)
(7) days
days from
from receipt
receipt of
of such
such notice
notice shall
shall fail
fail to
to take
take action
action that
that would
would cure
cure the
the
default within
withIn a reasonable period of of time,
time, and
and ififPurchaser
Purchaser hashas performed
performed all all of
ofhis
hisobligations
obligationshereunder,
hereunder, then
then Purchaser
Purchaser may
may
elect to receive a return of
of the
the deposits
deposits made
made hereunder,
hereunder, together
together with
with interest
interest or
orin in the
thealternative,
alternative,may mayseek
seekspecific
specificperformance.
perfonnance.
Upon
Upon payment
payment of of said deposit
deposit to to Purchaser,
Purchaser, Seller
Seller will
will no
no longer
longer have
have anyanyliability
liability,totoPurchaser,
Purchaser, and andthis
thisAgreement
Agreement shall
shall
automatically be cancelled.

9.
9 NON-ASSIGNABILITY.
NON-ASSIGNABILITY. This This Contract
Contract and
and Purchaser's
Purchasers interest and and rights hereunder
hereunder are are personal
personal to
to Purchaser
Purchaser andand
neither said
neither said Contract
Contract nor the interest
interest oror rights
rights of
ofPurchaser
Purchaser hereunder,
hereunder, or or any
any portion
portion thereof,
thereof, shall
shall be
beassigned
assigned orortransferred
transferred
directly or
or indirectly,
indirectly, in whole or
or in
in part,
part, without
without prior
prior written
written approval ofof Seller. Any Anysuch
suchassignment
assignmentwithout
withoutsuch
such written
written approval
approval
of
of Seller
Seller shall bebe invalid
invalid and
and shall
shall.not
not be
be binding
binding upon
upon Seller
Seller and
and shall
shall not
not relieve
relieve Purchaser
Purchaser of ofPurchasers
Purchaser'sobligations
obligations under
under this
this
Contract.
Contract In Inthe
theevent
eventSeller
Selleragrees
agreesto toananassignment,
assignment,the the purchase
purchase price
price shall
shall be
be increased
increased by by Twenty-five
Twenty-five Thousand
Thousand andand No/I 00
No/100
Dollars ($25,000.00),
($25,000.00). This This Contract
Contract shall be be binding
binding upon
upon and
and inure
inure toto the 'benefit of
the'benefit of the
the heirs,
heirs, executors,
executors, administrators and
administrators and
permitted assigns of
permitted assigns of the parties
parties to this
this Contract;
Contract; provided,
provided, however,
however, thisthis Contract
Contract shall
shall not become
become binding upon Seller
binding upon until
Seller until
approved pursuant to the the terms
terms hereof.
hereof. . .

10. NOTICES.
NOTICES. The
The delivery of any Items
items and
and the
the giving of notice in compliance with with this Contract shall
shall be
be accomplished
accomplished
by delivery
delivery of the item or
or notice
notice to
to the
the party
party intended
intended to
to receive
receive itit or
or by
bymailing
mailing by
bycertified
certified or
orregistered
registered mail,
mail, U.P,S.,
U.P.S., Federal
Federal
Express, or Airborne Express addressed to the address
address of the party herein stated. Notice
Noticeorordelivery
deliveryby
bymail
mailshall
shallbe
beeffective
effectivewhen
when
mailed. Notice
Noticeorordelivery
deliveryby
bypermitted
permitted1overnight
overnight courier shall be effective the
the day
day deposited
deposited with
with such
such courier.
courier.

11. FINANCING.

(a) Check the appropriate box.

l-J 1 represents to
Purchaser represents to Seller
Seller that
that no
no mortgage financing
financing is necessary or desirable
desirable for Purchaser
Purchaser does not
to complete this transaction and that Purchaser not desire
desire for
for this
this Contract
Contract to
to be
be contingent
contingent upon
upon
abiiity to obtain financing;
his ability . .

[or]
(or] .

L-J
1 1 Purchaser represents·
Purchaser representstotoSeller
Sellerthat
that Purchaser
Purchaseris·
is inin need
need of a mortgage
mortgage loan
Joan in
in the
the principal
principal
forth in
amount set forth in Paragraph
Paragraph 1I in
in order
order to complete this transaction,
transaction.

(b) Mortgage Contingency,

Contingency.

(i) Preapproved Lender.

Lender.

_.,-_ _ Proc. Mgr. Initials:

_ _ _ Purchaser
_ _ _ Purchaser
 (1) Subject to subparagraphs
sUbparagraphs below, in the event the Purchaser
Purchaser seeks
seeks financing
financing with
with the
the assistance
assistance
ofSellerthrough
of Seller throughaalender
lenderpreapproved
preapprovedby bythe
theSeller
Seller(a(a"Preapproved
"Preapproved Lender)
Lender"),First
FirstMeridian
MeridianMortgage,
Mortgage,1920 1920E.E.Hallandale
HallandaleBeach
Beach
Blvd.,
Blvd., Suite 502, Haliandale,
Hallandaie, Florida
Florida 33009(subject
33009-(subjecttotochange
changewithout
withoutnotice),
notice),andandsuch
suchPreapproved
PreapprovedLender
Lenderdoes doesnot
notapprove
approve
Purchasers
Purchaser's loan
loan application,
application,provided
providedthat
thatPurchaser
Purchaserfurnishes
furnishescomplete
completeand
andaccurate
accurateInformation
informationtotosuch
suchPreapproved
PreapprovedLender,
Lender,all
all
monies held in escrow will be be fully refundable
refundable to
to Purchaser.
Purchaser. InInno
noevent willthe
eventwill theloan
loanapplication
applicationfee
feepaid
paiddirectly
directlytotothe
thePreapproved
Preapproved
refundable.
Lender be refundable,

(2) If Purchaser
Purchaser does
does not
not cancel
cancel this
this Contract
Contract within
within the
the fifteen
fifteen (15)
(15)day
dayperiod
periodpro'Aded
provided In
in
Paragraph 32 and does notnot make
make aacomplete
completeand
andaccurate
accurateapplication
application as
asrequested
requested bybyaaPreapproved
PreapprovedLender,
lender,ororwithin
withinthree
three(3)
(3)
days provide for any
any additional
additional documents
documents requested bysuch
requested by suchPreapproved
Preapproved Lender,
Lender, the
thetransaction
transactioncontemplated
contemplatedby bythis
thisContract
Contract
shall be considered
considered an all cash transaction and no Earnest Money shaJl
shall be refundable
refundable toto the
the Purchaser
Purchaser in
in the
the event
event Purchaser
Purchaserfallsfails
to close on the Closing Date,
Date.

Purchaser agrees
(3) Purchaser agrees and
and understands that Seller
understands that Seller Is
is only
only referring
referring Purchaser
Purchaser toto aaPreapproved
Preapproved
Lender and
Lender and any
any approval
approval Is
is subject
sUbject to such
such Preapproved Lender. Under
Preapproved lender. Under nono circumstances
circumstances shall
shall the
the Seller
Seller be
be responsible
responsible for
obtaining financing for Purchaser.
for Purchaser.

(ij)
(ii) Nonapproved Lender, In
Nonapproved Lender. In the event the Purchaser seeks
seeks finanCing
finanding through
through aa lender
lender without
without
the assistance
assistance of the
the Seller
Seller (a
(a"Nonapproved
"Nonapproved Lender',
lender", Preapproved
Preapproved Lender
Lender and
and Nonapproved Lender shall
Nonapproved Lender shall be
be referred to
referred to
collectively as
collectively as "Lender"),
"Lende?'), Purchaser
Purchaser understands
understands that
that monies
monies held
held in
in escrow shall not
escrow shall not be
be refundable
refundable should
should the
the financing
financing be
be
disapproved and this shall be considered an all cash transaction.
transaction. In
In the
the event
event financing ,is approved, all mortgage costs
financing is costs will
will be
be paid
paid
by the Purchaser in full. .

(iii)
(Ri) Purchaser agrees
Purchaser agrees andand understands
understandsthatthatthe
the loan
loan program.
program(term,
(term, interest
interestrate,
rate,LTV,
Liv, etc.)
etc.)
shall be determined by the Lender only, according to the Purchaser's
Purchasers qualifications
qualifications and regardless of the
the loan amount
amount requested
requested onon
the first page of this Contract.
Contract. The
The loan
loan program
program isis the
the sole
sole responsibility
responsibility of
of the Purchaser.
Purchaser. Therefore,
Therefore, Purchaser
Purchaser should confirm
should confirm
with the Lender the exact terms of the loan within fifteen (15) days after receiving
receiving the
the documents
documents required
required under
under Paragraph
Paragraph32 32(that
(that
is, within
is, within the time that the
the Purchaser
Purchaser maymay cancel
cancel this
this Contract
Contract under
under Chapter
Chapter 718,
718, Florida Statutes). In no event shall
Florida Statutes). shall the
the Closing
Closing
be contingent upon the particular
particular loan program approved
approved by the Lender,
Lender.

(iv) Notwithstanding anything contained

Notwithstanding anything containedherein
hereintoto the
the contrary,
contral)', the Closing
Closing Date
Date shall
shall be
be
extended as may be
extended as be required
required by a Preapproved
Preapproved Lender, upon Seller's
Lender, upon Sellers approval
approval only.
only. Under
Under no
no circumstances
circumstances shall
shall the Closing
Closing
Date be
be extended at the request of a Nonapproved Lender.
extended at Lender.

(v) In the event Paragraph

Paragraph 11 ofof this Contract provides for a mortgage loan, this Contract
Contract will be
subject to
SUbject to cancellation upon written
cancellation upon written notice
notice by the Seller
Seller ifif Purchaser(s)
Purchaser(s) does
does not complete
complete the mortgage
mortgage application(s) and all
application(s) and all
necessary forms within five (5) business
(:)usiness days of
of execution of
of this Contract.

CREDIT CHECK.
12. CREDIT CHECK. Purchaser
Purchaser hereby
hereby authorizes
authorizes SKYRE,
SKYRE, LLC,
LLC, oror any
any affiliated
affiliated entities,
entities, to inquire
inqUire into
into Purchasers
Purchaser's
EQUIFAX, EXPERION or TRANSUNION credit reports. Purchaser
EQUIFAX, Purchaseragrees
agreesto
to pay
pay all
all costs
costs relating
relating to
to the
the credit
credit report
report which
which shall
shall be
be
in addition to the purchase price.
in

13. CONSTRUCTION
CONSTRUCTION BY BY PURCHASER. Purchaser shall
PURCHASER. Purchaser shall comply
comply with
with all governmental
governmental requirements
requirements forfor any
any
construction to
construction to be done in the Unit at Purchasers
Purchaser'sexpense,
expense, including,
including, but
butnot
notlimited
limited to,
to, permits,
permits, plans, insurance, approval
plans,insurance, approval from
from the
the
Association, Dumpster fee,
Association, Dumpster fee, Contract License,
License, etc. InIn addition,
addition, Purchaser
Purchaser shall
shall provide
provide Sellers
Seller'sconstruction
constructiondepartment
department advance
advance
written notice
written notice of anyany renovation
renovation to be
be done
done ininhis/her
his/herUnit,
Unit,and
andrelease
releaseSKYRE,
SKYRE, LLC, LLC,andandTHETHEWAVE
WAVECONDOMINIUM
CONDOMINIUM
ASSOCIATION
ASSOCIATiON OF OF ST.
ST. PETERSBURG,
PETERSBURG, iNC.,INC., from
from any
any liability.
liability. SKYRE,
SKYRE, LLC,
LLC, will
wlil not
not guarantee
guarantee the
the work
work or
orcompletion,
completion, ofof any
any
subcontractor or
subcontractor or affiliated
affiliated contractor
contractor SKYRE,
SKYRE, LLC, when privately
privately contracted
contracted by buyer.
buyer. The
The provisions
provisions of
ofthis
thisparagraph
paragraph shall
shall
survive closing. .

14. UNIT TO BE PURCHASED "AS

'AS IS".

Purchaser acknowledges
(a) Purchaser acknowledgesthat that this
this is aa conversion
conversion of of previously
previously existing
existing improvements
improvements and and thatthat the
the
Condominium
Condominium property complete. In this regard,
SUbstantially complete.
property is substantially Purchaser acknowledges
regard, .Purchaser acknowledges that there has been been made
made available
available toto
Purchaser floor
Purchaser floor plans
plans of
of the
the Condominium
Condominium Property.
Property. Floor
Floor plan
plan dimensions are approximate only. Purchaser
approximate only. Purchaser further
further acknowledges
acknowledges
that Seller
that Seller has
has made
made available
available to the the Purchaser
Purchaser complete
complete plansplans andand specifications for'the
specifications for the Unit
Unit and
and the improvements
improvements of of the
the
Condominium Property.
Condominium Property. Purchaser
Purchaser understands
understands that,
that, pursuant
pursuant to to the
the Act
Actand
andthe
thePublic
PublicOffering
OfferingStatement,
Statement, the theDeveloper
Developermakes makes
no representations
no representationsas as to
to the
the Condominium
Condominium Property
Propertyor or the
the Unit,
Unit, and
and Purchaser
Purchaserhereby
herebyagrees
agreestotoaccept
acceptthe theUnit
Unitin.in an
an "as
"as is"
is"
condition.
condition. Two
.Two (2)(2) weeks
weeks prior
prior to ~heclosing
to the closing of
ofthe
thetransaction
transaction between
between Purchaser
Purchaser and and peveloper,
peveloper, itIt shall
shall bebe the.
the duty
duty of the
the
Purchaser,
Purchaser, inin the presence
presence of of an
an agent
agent ororrepresentative
representative of ofthe
theDeveloper,
Developer,to toinspect
inspectthe
theUnit,
Onit.including
includingitsitsappflances.
appliances,electrical
electrical
system and the plumbing. InInno noevent
eventshall
shallsuch
suchinspection
inspectionserve
servetotopostpone
postponethe
the closing.
closing. .

_ _ _ _ Proc. Mgr. Initials:

_ _ _ Purchaser
_ _ _ Purchaser
 ( (

Condominium is
This Condominium is being
being created by the conversion of existing
existing improvements. Each Unit
improvements. Each Unitshall
shall be
be delivered
delivered in
manner represented
the manner represented inin "as
"as is"
is" condition
condition without
without any
any express
express warranties
warranties or
orrepresentations
representationsby theDeveloper,
bythe Developer,the
theAssociation
Associati,onoror
broker or
any broker or agent.
agent.

No Conversion
No Conversion Reserve
Reserve Account
Account hashas been
been established
established pursuant
pursuant toto Section 718.618(1)..Florida
Section 718.618(1), Florida. Statutes.
Statutes.
Therefore, pursuant to Sections 718.618(6)
718.618(6) and 718.203,
718.203, Florida
Florida Statutes,
Statutes, unless
unless expired,
expired, the
the Developer
Developer isis deemed
deemedto to have
havegranted
granted
to the purchaser
purchaser of each
each Unit an
an implied
implied warranty
warranty of
of fitness
fitness and
and merchantability
merchantability for the
the purposes
purposes oror uses
uses intended,
intended, asas to
to the
the roof
roof
and structural components of the building or the improvements; as to fireproofing and fire protection systems; and as to mechanical,
mechanical,
electrical and
and plumbing
plumbing elements
elements serving
servingthe
theimprovements
improvementsororthethebuilding,
building,except
exceptmechanical
mechanicalelements
elements serving
servingonly one
only oneUntt.
lint

To the extent
extent pemiitted
permitted by
by law,
law, the
theDeveloper
Developer specifically
specifically disclaims
disclaims any
any and
and all
all other
otherimplied
implied warranties
warranties of
of
merchantability and fitness
merchantability and fitness as
as to the
the Condominium
Condominium Property,
Property, any
any Unit,
Unit, or
or any
anyappurtenance
appurtenance thereto,
thereto, including
including any
any appliances,
appliances,
furniture,
furniture, fixtures
fIXtures or personal
personal property,
property, subject only
only to
to the
the provisions
provisions of
ofSections
Sections 718.618(6)
718.618(6) and
and 718.203,
718.203, Florida
Florida Statutes,
Statutes, as
as
above.
outlined above.

15. RENOVATION STATUS.

IS. RENOVATION STATUS. Purchaser acknowledgesthat
Purchaser acknowledges that there
there may
may be ongoing
ongoing renovations
renovations to the
the Common
Common
Elements
Elements after Closing.
Closing. Purchaser acknowledges that Seller will not be obligated
Purchaser acknowledges obligated to give any
any reductiori
reduction In the purchase price, or
purchase price, or
any expense,
reimburse any expense, or
or place
place any
any funds
funds in
in escrow
escrow due
due to
to ongoing
ongoing renovations
renovations at
atthe
thetime
timeofofClosing..
Closing.

SURVIVAL OF
16. SURVIVAL OF CONTRACT.
CONTRACT. All conditions
conditions or
or stipulations
stipulations not fulfilled at time
time of
of Closing
Closing shall
shall survive
survive the
the Closing
Closing
as the
until such time as the conditions or
or stipulations
stipulations are
are fulfilled
fulfilled

17. POSSESSION.
POSSESSION, Possession Possession of
of the
the Unit
Unit shall
shall be
be delivered
delivered to
to Purchaser
Purchaserat
atthe
theClosing,
Closing,subject
subjecttotoany
anylease
leasewhich
which
may be in effect, ifif the unit is
is occupied.

18. THE WAVE

WAVE CONDOMINIUM ASSOCIATION
ASSOCIATION OF
OF ST.
ST. PETERSBURG,INC.
PETERSBURG INC.

(a) Governinq
Governing Documents. Purchaser acknowledges
Documents. Purchaser acknowledges thatthat the
the Unit
Unit being
being purchased
purchased isis a portion
portion of
of the
the real
real
improvements which
property and improvements which have
have been
been or
or will
will be made subject
subject to the Declaration
Declaration referred
referred to to in
in Paragraph
Paragraph 1. Thenature
I. The nature andand
extent of the
the rights
rights and
and obligations
obligations of
of the
the Purchaser
Purchaser in in acquiring
acquiring and
and owning
owning the
the Unit
Unit will
will be
be controlled
controlled bybyand
and subject
subject to
to.the
the
of Incorporation,
Declaration, as well as the Articles of Incorporation, the Bylaws,
Bylaws, and the rules and regulations of Association. Purchaser
of the Association, Purchaseragrees
agrees
to comply with all of the terms, conditions and obligations set forth therein.
therein.

Membership in
(b) Membership in Association.
Association. Upon
Upon conveyance
conveyance of titletitle to
to the
the Unit
Unit totoPurchaser,
Purchaser, Purchaser
Purchaser shall
shall
automatically become a member of the Association and shall be subject to to the
the assessment obligations
obligations and
and other
other provisions
provisions set
set forth
forth
the Declaration,
in the Declaration, including
inclUding the obligation
obligation of
of the
the Purchaser
Purchaser to
to pay
pay aa contribution
contribution to
to the
the working
working capital
capital of
ofthe
the Association
Association referred
referred to
to
in
In Paragraph
Paragraph 3(c) of this Contract.

(c) Amendments to Documents. Purchaser hereby acknowledges and agrees that prior to the theGlosing,
Closing, Seller
have the right
shall have right to
to modify,
modify, change,
change, revise
revise and
and amend,
amend, without
without Purchaser's
Purchaser's approval,
approval, any
any ororall
all .of
,of the documents (other than this
Contract),
Contract), the drafts of of which
which are
are contained
contained inin the
theProspectus.
Prospectus. In the event event the
the Seller
Seller shall
shall make
make any anyamendment, modification,
amendment, modification,
change, or revision
change, revision to the documents
documents or materials
materials contained
contained in the Prospectus, then a copy
Prospectus, then copy ofof such
such shall
shall bebedelivered
delivered toto the
the
and, if such
Purchaser and, such change,
change, amendment,
amendment, revision
revision or
or modification
modification materially
materially alters
alters or
or modifies
modifies the the offering
offering ininaamanner
mannerthat
thatIsIs
adverse to
adverse to the Purchaser, then, the
Purchaser, then, the Purchaser shail
shall have
have thethe option
option to (1) consent
consent to such,
such, oror (2)
(2) within
within fifteen
filleen (15)
(16) days
days after
aller
receiving a copy of
receiving of such,
such, terminate
terminate this
this Contract
Contract in in writing,
writing, inin which
which event
eventPurchaser's
Purchaser's entire
entire deposit
deposit shall
shall be
berefunded
refunded and
and thethe
parties hereto shall have no rights or liabilities hereunder. In In the
the event
eventPurchaser
P.urchaserdoes
does not
not terminate
tenninate thisthis Contract
Contract within
within said
said fifteen
(15) days,
(15) days, Purchaser
Purchaser shall
shall be
be conclusively
conclusively deemed
deemed to tohave
haveconsented
consentedtotothetheproposed
proposedchange, amendment, modificaUon,
change,amendment. modificati,an, oror
revision
revision...

BROKERAGE AND
19. BROKERAGE AND AGENCY.
AGENCY, Except
Except asas set forth
forth by an Addendum,
Addendum, Purchaser and and Seller represent
represent andand warrant
warrant to
to
other that each
the other each party
party has not
not dealt
dealt with
with aa broker,
broker, agent,
agent, or or finder
finder inin connection
connection with
with this
this transaction
transaction andand Purchaser
Purchaser and Seller
and agree,
covenant and agree, each
each to the other,
other, to
to indemnify
indemnify and hold each
and' hold each other
other harmless from any and all all losses,
losses, damages
damages, costs
costs and
and
expenses including,
expenses including, but
but not
not limited. to, attorneys'
limited.to, attorneys"fees
fees and
and court costscosts that may be incurred or suffered
be incurred suffered as as a result of any claim for
commission, or similar
any fee, commission, similar compensation
compensation with with respect
respect toto this
this transaction
transaction made
made byby any
any person
person ororentity,
entity,whether
whetheror ornot
notsuch.
such
for any
claim for any fee, ,commission,
commission, or or similar
similar compensation
compensationwith with respect
respectto tothis
thistransaction
transactionmade
madeby byanyanyperson
personororentity
entityisismeritorious.
meritorious.

20. FLOOR
FLOOR PLANS AND AND MODELS.
MODELS. Purchaser
Purchaser hereby
hereby acknowledges
acknowledges and and agrees
agrees that any any floor
floor plans,
pians, renderings,
renderings,
drawings,
drawings, and
and the like, fumished
the like, fumished by Seller to Purchaser
Purchaser which
which purport to depict
depict the Unit,
Unit, or
or any
any portion
portion thereof,
thereof, or
or the
the bUilding
building
containing the
containing the same,.
same, are
are merely
merely approximations,
approximations,andand do
do not
not necessarily
necessarilyreflect
reflectthe
the actual
actual as-built
as-builtconditions
conditionsofofthe
thesame.
same. The
Purchaser
Purchaser further
further acknowledges
acknowledges and and agrees
agrees that
that the decorations, paint
the decorations, paint Golors,
solors, carpet,
carpet, special
special wall textures, window treatments,
wall textures, treatments,
hard surface
hard surface floors,
floors, some
some mirrors
mirrors and
and paneling,
paneling, art
art work,
work, fumiture,
furniture, furnishings,
furnishings, wallpaper,
wallpaper, fixtures, appliances, and
fixtures,appllances, and the
the like,
like,
contained
contained in
In any model
model unit
unit of
of THE
THE WAVE,
WAVE, AACONDOMINIUM,
CONDOMINIUM, are are for
fordemonstration
demonstration purposes
purposes only,
only, and
and are
are not
notincluded
included inin the
the
Unit
Unit which
which is the subject of this Contract or necessarily representative
representative of the Unit. Additionally,
Additionally, utility
utility locations
locations and
and air
air conditioning
conditioning
condenser locations may may vary
vary between
beween the
the model
modelUnit(s)
Unites)and
andother
otherproduction
productionUnits.
Units.

_ _ _ _ Proc.
Proc. Mgr.
Mgr. Initials:
_ _ _ Purchaser
_ _ _ Purchaser
Purchaser
 21, TIME
21. TIMEOF
OFESSENCE.
ESSENCE.Time
Timeisisof01the
theessence
essenceofofthis
this Contract.
Contract.

22, FORCE
22. FORCE MAJEURE.
MAJEURE. Either
Either party
party hereto
hereto shall be
be excused for the period
excused lor period of
01 any
any delay
delay In
In the
the performance
performance of
01 any
any
obligations hereunder when such delay is occasioned
occasioned by cause or causes beyond the control of of the
the party
party whose
whose performance
performance isis so
so
delayed
delayed and
and the time
time for
for performance
performance shall
shall be
be automatically
automatically, extended
extended for for aa like period. Such causes
period. Such include, without
causes shall include, without
limitation, all labor
limitation, labor disputes,
disputes, civil
civil commotion,
commotion, war, warlike operations,
war, warlike operations, invasion,
invasion, rebellion,
rebellion, hostilities,
hostilities, military
military or
orusurped
usurpedpower,
power,
sabotage,
sabotage. govemment
government regulations
regulations or controls, fire or a,ther casualty,
or other to obtain any necessary materials or services,
casualty, inability to services, or acts
of
of God.
God.

SEVERABILITY.The
23. SEVERABILITY. The provisions
provisions of of this
this Contract are intended
Contract are intended to to be independent,
independent, and in the
the event
event any
any provision
provision
hereof
hereof should
should bebe declared by aa court
declared by courtofofcompetent
competentjurisdiction
jurisdiction to
tobe
beinvalid,
invalid,illegal
illegalororunenforceable
unenforceablefor
forany
anyreason
reasonwhatsoever,
whatsoever,
such Illegality,
illegality, unenforceability,
unenlorceability, or
or invalidity
invalidity shall
shall not
not affect
affect the
the remainder
remainder of01 this Contract. .

CONSTRUCTION OF
24. CONSTRUCTION OF CONTRACT.
CONTRACT. This This Contract
Contract concerns
concernsthe thesale
sale01 of real
real property
property located
located Inin the
the State
State 01of Florida.
Florida.
This Contract,
Contract, and
and all of the
all of the relationships
relationships between
between thethe parties
parties hereto,
hereto, shall
shall bebe construed
construed and and interpreted
interpreted In
in accordance
accordance with with the
the laws
laws
of the
the State
State of
ofFlorida. Notwithstanding the
Florida. Notwithstanding the above,
above, the
the Purchaser
Purchaser and Seller acknowledge
acknowledge that they they have
have read,
read, understand,
understand, and and
have had the opportunity to be advised by legal counsel as to each each and
and every
every oneone of
of the
the terms,
terms, conditions,
conditions, restrictions,
restrictions and effect of
all of
of the
the provisions
provisions of this Contract
of this and every
Contract and every part
part of
of the
the Prospectus, all of
Prospectus, all of which
which are
are Incorporated
incorporated herein
herein byby reference
reference and made made aa
part hereof, and thethe Purchaser
Purchaser agrees
agrees toto the
the enforcement
enforcement of ofany
anyand
andall
allofofthese
theseprovisions.
provisions. It is further agreed that words of any
gender used in this Contract shall be be held toto include
include any other gender,
gender, any
any words
words inin the
the singular
singular number
number shall
shall be
be held
held to
toinclude
includethethe
plural wherever
wherever applicable,
applicable, andand that captions and paragraph numbers appearing
paragraph numbers appearing in in this
this Contract
Contract are
are inserted
inserted only
only as
as a matter of of
convenience and
convenience and in
in no
no way define,
define, limit, construe or
limit, .construe or describe the scope
describe the scope or or intent
intent ofof such
such paragraph
paragraph or or in any way affectaffect this
this
Contract,
Contract.

25. ENTIRE
ENTIRE AGREEMENT.
AGREEMENT. This This Contract
Contract contains the entire
conlains the entire agreement
agreement between
between the
the parties
parties hereto.
hereto. No agent,
agent,
representative, salesman
representative, salesman or or officer
officer of
of the
the parties
parties hereto
hereto has authority
authority to make,
make, or or has
has,made,
made, any
anystatements,
statements, agreements,
agreements, oror
representations, either oral
representations, oral or in writing,
writing, in connection herewith, modifying, adding
her,ewith, modifying, adding to,
to, or
or changing
changing the
the terms
terms and
and conditions
conditions hereof
and neither party has relied upon any representation
representation or warranty not set forth
forth in
in this
this Contract.
Contract. No
No dealings
dealings between
between the
the parties
parties or
or
customs shall
customs shall be'
be permitted
permitted to contradict, vary, add
contradict, vary, to, or
add 'to, or modify
modify the
the terms
terms hereof.
hereof. Purchaser acknowledges,
acknOWledges, warrants
warrants and
and
represents that this Contract is being entered into by Purchaser
Purchaser without reliance upon upon, any representations concerning
concerning any potential
ren~al !ncome
for future profit, any rental income potential, tax advantages,
advantages, depreciation investment potential,
depreciation or investment potential, and
and without
without reliance
reliance upon
upon any
any
other monetary or financial advantage, Purchaser acknowledges
advantage, Purchaser acknowledgesthatthat no
nosuch
such representations
representationshave
havebeen
beenmade
madeby bySeller
Selleror
orany
anyof
of
its agents, employees or representatives.
representatives.

26. OFFER. This Contract,

Contract, as executed
executed byby Purchaser,
Purchaser, shall
shall constitute
constituteananoffer
offertotoSeller.
Seller. Seller may accept
accept the same, if
the same,
at all,
aU, by delivering to Purchaser
Purchaser at least one
one executed
executed original
original of
of this Contract
Contract prior to the time that
that Purchaser
Purchaser thall
shallnotify
notifySeller,
Seller,inin
of Purchase?s
writing, of Purchaser's revocation
revocation of
of this
this offer.
offer. The
The date of
of this Contract
Contract is
is the date of acceptance by Seller.
,t;'.1'.~~I.1\
27. DISCLOSURES REGARDINGTHE
DISCLOSURES REGARDING TIlE UNIT.
UNIT. Purchaser
Purchaser acknowledges
acknowledgesand andagrees
agreesthat
that he/she
he/she .has
has read
read and
and
understood the
understood the disclosures
disclosurespertaining
pertainingtotothe
the purchase
purchaseand
andsale
saleof
of the'
the Unit
Unit contemplated
contemplatedby
bythis
this Contract
Contract and
and the
the "Disclosures
'Disclosures
regarding the prospectus and incorporated herein by this
regarding condominium" in the this reference.
reference.

28. INSPECTION PROCEDURE.

(a) Purchaser is required

reqUired to conduct
conduct aa personal
personal Inspection
inspection of
of the Unit Seller's representative
Unit with Seller's at aa mutually
representative at mutually
convenient time during Seller's normal business hours
hours no more than three (3) days prior to the scheduled closing date.

(b) If Purchaser
Purchaser is is unable
unable to conduct the personal
personal inspection
inspection of the Unit with Seller,
Seller, as
as required,
required, Purchaser
Purchaser
written notice to Seller. Purchaser will be bound by the actions of the representative.
may designate a representative by written.

(c) During, the personal

During. the personal inspection,
inspection.Purchaser
PurchaserororPurchaser's
Purchase(s representative·
representative and Seller will
and Seller will complete
complete aa list of
inspection items
inspection items inin the
the Unit which require Seller's
which require Seller's attention.
attention. Purchaser
PurchaserandandSeller
Sellerwill
willsign
sign the
the list
list as
as conclusive evidence of
conclusive evidence of the
the
agreed upon
agreed upon work
work to be performed. When the agreed work has been performed
performed. When (which will
performed (Which within a reasonable time considering
will be within
the availabmly
the availability 01
of materials
materials and
and the
the nature
nature of
of Ihe
the work
work 10
to be
be performed)
performed) Ihat
that will
will be
be deerned
deemed conclusively
conclusivelythat:
that:(1)
(1) Seller's
sellers obligations
have been fulfilled,
have fulfilled, and (2) any additional items will be the responsibility of the Purchaser.
Purchaser.

(d) Any contractor ofof Purchaser

Purchaser will
will be
be allowed
allowed access
access to the Unit for
for construätlon
construCtion work
work only
only subsequent to the
SUbsequent to the
later of: (1)
(1) completion
completion of the
the personal inspection,
inspection, (2) signing of the list of inspection
inspection items by Purchaser;
Purchaser' and
and (3)
(3) closing.
closing.
- ~,

(e) It is agreed
agreed by the parties to this
this Contract
Contract that
that the
the fact that the
lactthat the parties
parties have
have not
notcompleted
compleled the
theinspection,
inspection,
or that items listed on the inspection list
fist have not been addressed by Seller,
Seller, will
will not entitle Purchaser to delay closing or to withhold
money duedue Seller at closing,
closing, and
and aa refusal
refusal to
to close
dose as scheduled or to to pay the
the full
full purchase
purchase price
price at
at closing
dosing will constitute a default
by the Purchaser. Seller's obligation to perform the work agreed upon in the list of inspection items will survive ·closing.
closing.

_ _ _ _ Proc.
Proc. Mgr.
Mgr. Initials:
Initials:
_ _ _ Purchaser
_ _ _ Purchaser
 ( (

(f) Failure
ifi Failure of the Purchaser
Purchaser to conduct the
the personal inspection
inspection and complete
complete and sign thethe list
list of
of inspection
inspection
items by
items by the
the date
date established
established inin this
this Paragraph
Paragraph28(a)
28(a)ofofthis
this Contract
Contractwit!
will be
be deemed
deemedtoto be:
be: (1)
(I) conclusive Purchase~s
conclusive of Purchasers
acceptance
acceptance ofof the
the Unit in accordance with Paragraph
accordance with Paragraph 15;
15; and
and (2)
(2) a complete
complete waiver
waiver of all ob]ections
objections to defects in workmanship or
materials. This will not be
be deemed
deemed toto be a waiver of any
any warranties
warranties provided to Purchaser by law.
provided to law.

(g) of this
The provisions of this paragraph shall
shail survive the
the closing.
closing.

29. CONTINGENCY. Seile~s

PRE-SALE CONTINGENCY,
PRE-SALE Sellers obligation
obligation to close
close hereunder
hereunder isis expressly
expressly contingent
contingent upon Seile~s
upon Seller's
procuring 65
procuring 65 (sixty~five)
(sixty-five) qualified
qualified binding
binding Purchase,
Purchase, all
all as
as required
required by Seller's loan
loan agreement
agreement with itsits lender.
lender. In the event
event the
the
above pre-sale
above pre-sale requirements
requirementsare arenot
notmet
met by
by August
August 31,
31, 20'05,
2005, Seller
Seller shall
shall have
have the
the unilateral
unilateral right
right to
to terminate
terminate this
this Contract
Contract by
by
giving written notice to the Purchaser and Seller shall refund all Earnest
Eamest Money paid hereunder. .
..
30. PROSPECTUS.
PROSPECTUS. The ThePurchaser
Purchaseracknowledges
acknowledges thatprior
that priortotoIhe
theexecution
executionofofthis
this contract,
contract,all
all of
of the
the statutory
statutory
information concerningthis
information concerning thisCondominium
Condominiumrequired
requiredbybySections
Sections718.503
718.503and and718.504
718.504ofofthe
theAct
Acthas
has been
been delivered
deliveredto to the
the
Purchaser, the receipt
Purchaser, the receipt of which
which is
is hereby
hereby acknOWledged
acknowledged byby Purchaser
Purchaser byby signing
signing the
the Receipt
Receipt of
of Condominium
Condominium Documents
Documents attached
attached
hereto.

31. ENVIRONMENTAL OISCLOSURES

DISCLOSURES

Contaminates. The The grading

grading of
of the
the soil
soil and other elements created by nature, as well as building materials developed
and other developed
by man, many times create unwanted and undesired gases and other other contaminates
contaminates in in homes
homes andand residential
residential buildings,
bUildings, both
both new
new
and used.
used. Also,
Also, since
since energy
energy conservation
conservation has become a concem,concern, there is a need
need to build homes and and residential
residential buildings that are
more airtight.
airtight. As
As aa result,
result, these
these homes
homes and
and residential
residential buildings
buildings trap
trap unwanted
unwanted gases
gases in in different
differentdegrees
degrees depending
depending on onhow
howeach
each
person lives
person lives within
within their
their home
home or or such
such residential
residential building.
building. To date measurements of of such
such unwanted gases (such (such as the
the radon
radon gas
gas
described below) are
described below) are reported
reportedas asparts
parts of
of the
the air
air they
they occupy.
occupy. Since
Since the
the quality
quality of
of air
airwe we breathe
breathe can
can affect
affectour
ourhealth,
health, Seller
Seller
recommends frequent
recommends frequent airing
airing of
of Purchaser's
Purchaser's Unit
Unit by
by simply
simply opening
opening windows
windows toto introduce
introduce fresh
fresh air uncontaminated with
with such gases.
gases

Lead
lead Solder in in Water Pipes. Due
Water Pipes. Due to the the use
use of
of lead
lead in
in the
the soldering
soldering of
of the
the joints
joints and
and plumbing
plumbing fittings
fittings on
on the
the
property, which
property, which is
is prevalent
prevalent in
in many properties, itit is_
many properties, recommended that
is recommended that the
the drinking
drinking water
water taps
taps be flushed for five minutes prior
prior to
to
usage after an absence
absence from
from the
the apartment units
units for.one
forone weekweek or
or longer.
longer.

Lead
Lead Paint. Every purchaser
Paint. Every purchaser of of any
any Interest in residential real property on on which
which a residential dwelling
dwelling was
was built prior
1978 is
to 1978 is notified
notified that such property may present exposureexposure to leadlead from lead-based paint that may place young children at risk
from lead-based risk of
of
developing
developing lead lead poisoning.
poisoning. Lead
Lead poisoning
poisoning in in young
young children
children may
mayproduce
produce permanent
permanentneurological
neurological damage,
damage, including
including learning
learning
disabilities, reduced
-disabilities, reduced intelligence
intelligence quotient,
quotient, behavioral
behavioralproblems,
problems,and.andimpaired
impairedmemory.
memory. Lead poisoning also poses poses a particular
particular risk
risk
to pregnant women.women. The The developer
developer ofof any
any interest
interest in
in residential
residential real
real property
property Is
is required
required to provide the buyer
buyer with
with any
any information
information
on lead-based
lead-based paint paint hazards.
hazards. AA risk
risk assessment
assessment or or Inspection
Inspection for
for possible
possible lead-based
lead-based paint hazards
hazards is recommended
recommended prior to
purchase. For purposes purposes of this
this disclosure, lead-based paint
disclosure, lead-based paint will
will be
be referred to as 'LBP"
referred to "LBP" and
and lead-based
lead-based paint
paint hazards
hazards willwill be
be
referred
referred to to as "LBPH?
"l:8Pf:i." Developer
Developerhas hasnonoknowledge
knowledge of ofLBP/LBPH
LBP/LBPH ininthe thehousing
housingandandnonoavailable
availableLBP/L.BPH
LBPILBPH records
records or or reports,
reports,
except as as indicated
Indicatedininaadisclosure
disclosureor oraddendum.
addendum. BuyerBuyer has
has received
receivedthethepamphlet
pamphletentitled
entitled"Protect
Protect Your
Your Family
Family from
fromLead
Lead in In Your
Your
Home" covering the foregoing information in detail.

I and Purchase
and Purchase of
Radon
of any
Gas The
Radon Gas.
any building
The following
building in
following disclosure
In Florida:
disclosure is
Florida: "Radon
Is required
required by
'Radon is a naturally
by Section
Section 404.056(8),
naturally occurring
404.056(8), FlorIda
occurring radioactive
radioactive gas
Florida Statutes,
gas that,
Statutes, for all
when itit has
that, when
all Contracts
Contracts for
hasaccumulated
for Sale
Sale
accumulated ininaabuilding
building
in sufficient
sufficient quantities,
quantities, may
may present
present health
health risks
risks to
to persons
persons who are exposed to it over time. Levels
levels of
of radon
radon that
that exceed
exceed federal
federal and
and
state guidelines have
have been found
found in buildings in Florida.
Florida. Additional information
information regarding
regarding radon and radon
radon ,and radon testing
'testing may
maybebeobtained
obtained
from your
from your county public health
county public health unit"
unit? Radon
Radon is is not generally tested for in
generally tested in Florida
Florida and
and Seller
Seller and
and makes
makes no no representation
representation in in
connection with respect to thethe presence or or absence
absence ofofsame.
same.

Mold. MoldMold is aa type

type ofoffungus
fungus which
which occurs
occurs naturally
naturally inin the
theenvironment
environment and
and isisnecessary
necessary forfor the
thenatural
natural
decomposition of plant and other organic material. It spreads
decomposition spreads by means of sharing In microscopic spores borne on the wind, and and is
is
found everywhere
found everhere lifelifecan bebesupported.
can supported.Residential
Residentialhomehomeconstruction
constructionisisnot,
not,andandcannot
cannotbe,
be,designed
designed to toexclude
exclude mold
mold spores.
spores. IfIf
the growing
growing conditions are right, mold can can grow
grow inin your
yourResidence.
Residence. InIn order
order to to grow,
grow, mold
mold requires
requiresaa food
foodsource.
source. This might be be
supplied by items
supplied by items found
found inin the
the home, such as fabric,
home, such fabric, carpet
carpet or even
even wallpaper
.wallpaper to name
name aa few. Also, mold
few. Also, mold growth
growth requires
requires a
temp~rate
temperate climate
climateand,
and,finally
finallymold
moldgrowih
growthrequires
requiresmoisture.
moisture. Moisture
Moisture isis the
the only
only mold
mold growth
growthfactor
factor that
that can
can be
be controlled
controlled InIn aa
residential setting. By
residential setting. minimizing moisture, an Owner can reduce or eliminate mold grbwth.
By minimizing growth. Moisture
Moisture InIn the
the home
homecan
canhave
havemany
many
causes.
causes. Spills,
Spills, leaks,
leaks, overflows, condensation,
condensation. and high humidity are are common
common sources
sources of home
home moisture.
moisture. Good
Good housekeeping
housekeeping and and
home maintenance practices are
maintenance practices are essential
essential in
in the effort to prevent or eliminate mold growth. If moisture is allowed
the effort allowed to remain on the
growth mediuni,
mediuffi, mold
mold can
can develop
develop within
within 24
24 to
to 48
48 hours.
hours.
"
32. DELIVERY OF UNIT.
UNIT. The
The Unit
Unit has
has previously
previouslybeen
been occupied and is delivered in
Is being delivered in "as
"as is"
is" condition.
condition.

SPECIAL STIPULATIONS.
33. SPECIAL stipUlations, if in conflict with
STIPULATIONS. The following stipulations, with any
any preceding
preceding provision,
provision, shall
shall control:
control:

_ _ _ _ Proc. Mgr. Initials:

Inftlals:
_ _ _ Purchaser
_ _ _ Purchaser
 (a) exhibits
Exhibits and
and Addenda.
Addenda. The
The Exhibits
Exhibits and/or
and/or Addenda
Addenda that
that are
are attached
attached hereto
hereto are by this reference
are by made
reference made
a part hereof.
hereof.

, (b) personal
Personal Property.
Property. The
Thefollowing
following Items
items shall
shall remain
remain with the
the Unit
Unit in
in their
their present condition
condition· at no additional
cost to Purchaser. Seller shall warrant unencumbered
to Purchaser. title thereto
unencumbered title thereto to
to Purchaser
Purchaser atat Closing:
Closing: Air Handler,
Handler, Water
Water Heater,
Heater,·Stove,
Stove,
Refrigerator.
Refrigerator.

(c) Statement by Salesperson. Seller

Sellerand
and Seller's
Seller's officers/employees
officers/employeesare
arenot
notresponsible
responsiblefor,
for, or
orbound
boundby,
bYI any
any
statement, representation and/or Contract by a salesperson or other
statement, other agents unless
unless such
such statement,
statement, representation
representation and/or
and/or Contract
Contract
is in writing
writing and signed by
by one
one of
ofSellers
Seller'sauthorized
authorized officers.
officers, PLEASE
PLEASEACKNOWLEDGE
ACKNOWLEDGETHAT THATIN iNMAKING
MAKINGTHIS
THIS PURCHASE
PURCHASE
PURCHASER IS
PURCHASER IS NOT RELYING
RELYING UPON
UPON ANY STATEMENT,
STATEMENT, REPRESENTATION
REPRESENTATION OR CONTRACT MADE BY A SALESPERSON SALESPERSON
OR AGENT (EXCEPT AS MAY MAYBEBE IN WRITING AND SIGNED BY ONE OF SELLER'S AUTHORIZED OFFICERS). OFFICERS),

(d) Report of Qualified

Qualified Architect
Architect or
or Engineer.
Engineer. Purchaser agrees agrees and acknowledges that the party preparing preparing the
the
Report of the Qualified Architect oror Engineer
Engineer found in the the Prospectus
Prospectus is is not
not affiliated
affiliated with
with Seller
·SelJer in
in any
anyfashion,
fashion, and
and isisaathird party.
thirdparty,
independent contractor
independent contractor employed by· by Seller
Seller to
to furnish
furnish the
the Report
Report as as required
requiredbybythethe Florida
Florida Condominium
CondominiumAct. Act. Purchaser is is advised
advised
to review
review the report carefully, including all disclaimers
including all disclaimers setset forth
forth therein.
therein, Seller
Seller has
has not
not agreed
agreed toto do any of
do any of the
the work
work suggested
suggested or
recommended in
recommended in the
the Report
Report except
except as
as expressly
expressly setsetforth
forthininthe
theattached
attachedContract
Contract

(e) Seller's Reserved

Ce) Selle(s Reserved Right
Right to
to Marketing
Marketing Strategy,
Strategy. Seller
Selier reserves the right to implement
Implement any legal marketing
marketing
program as deemed necessary to market Units within this project.project. This
This Includes,
includes, but
but is
is not
not limited
limited to,
to, the
the use
use of
ofmodel
model Units,
Units, signs,
signs,
flags, banners, special
f1ags,banners, special on-site
on-site events,
events, media
mediaadvertising,
advertising, modifications
modificationsof 'ofmodel.
model,and
and production
production Units,
Units, etc.
etc. Seller also reserves the
right to price Units at the current market value in an effort to sell
at·the sell Units..
Units. There
There are
are other
other marketing
marketing strategies
strategies and
and incentive
incentive plans not
noted herein which Seller reserves the right to
reserves the to implement
implement oror discontinue.
discontinue. Purchaser
Purchaser hereby acknowledges Seller's rights
acknOWledges Seller's rights as
as stated
stated
above. .

(g) estimated
EstimatedBudget.
Budget.The
TheCondominium
CondominiumAssociation
Associationbudget
budgetprovided
prOVidedtotoPurchaser
Purchaserisisbased
based on
onestimated
estimated
expenses only and may
expenses only may increase
increase or
or decrease
decrease significantly
significantly when the
the actual
actual expenses
expenses of
ofthe
the Condominium
Condominium Association
Association become
become
known. .

(i) Model
Model Unit/Sales
UniUSales Office.
Office. For
Forthe
thepurposes
purposesofofcompleting
completing the
thesales
salespromotion
promotion of ofthe
the Condominium
Condominium and and until
until
the
the sale of all
af! Units
Units inin the
the Condominium,
Condominium, the Seller,
Seller, its successors
successors andand assigns,
assigns, is
is hereby
hereby given
given the
the full
full right
tight and
and authority to
authority to
maintain or establish
maintain or establish onon the
the Condominium
Condominium Unit
Unit and
and Common
Common Elements
Elements such
such models,
models, sales
sales offices,
offices, banners,
banners, balloons
balloons and
and
advertising signs, if any,
advertising signs, any, as Seller may deem necessary
necessary in in its sole
safe discretion,
discretion, together with
with the right
right of ingress
ingress and egress
egress to the
the
CommonElements In connection
Common'Elements!n connection therewith
therewith

* a)
(j) Recordinq.
Recording. Purchaser
Purchasershall
shallnot
notrecord
record the
the Contract
Contract in
in the
the public
public records
records of
of Pinellas
Pinellas County,
County, Florida.
Florida. The
The
recording
recording by Purchaser of the Contract shall constitute a default by Purchaser.
Purchaser.

i~, and references

and references only
(k) Captions
only and
Captionsand
and in
in no
and Headings.
no way
Headings. Captions
way define,
Captionsand
define, descrlbe,
andparagraph
describe, extend
extendor
paragraph headings
orlimit
limitthe
headings contained
the scope
scope or
contained in
or interest
interestof
in the
of the
the Contract
Contract are
the Contract
Contractnor
are for
northe
for convenience
convenience
the interest
interestof
ofany
any
l1 provision hereof.

(I) Clerical Errors.

Errors. The
ThePurchaser(s)
Purchaser(s) agree(s),
agree(s), ifIf requested
requested by
by the
the Seller,
Seller, to
tofully
fullycooperate
cooperate inincorrecting
correcting any
any
clerical errors
errors as may appear
as may appearin
inthe
th\3 Contract.
Contract.

Electric. Buyer
(m) Electric. Buyer further
further acknowledges
acknowledgesthat thatthere
thereisis aa separate meter for each
separate meter each unit. Therefore, itit is
unit. Therefore, is the
the
buyer's responsibility to transfer the electrical service to the Unit
Unit upon
upon closing, at buyer's
closing, at buyer's expense,
expense, as willbe
as ititwill bedisconnected
disconnected fromfrom
SKYRE, LLC,
LLC, account at that time,
time, without
without prior
prior notice.
notice. Arrangements
Arrangementscan canbebemade
madeby bycalfing
callingFlorida
FloridaPower
Power&&Light tJht Company.

Note: Before Purchaser

Purchaser signs this this Agreement, Purchaser
Purchaser should
should read
read itit carefully.
carefUlly. Purchaser
Purchaserisis advised
advised that
thatthis
thisAgreement
Agreementcontains
contains
references
references to to developer's
developer's right
right to
to make
make changes
changes In in the
the offer
offer made
made totoPurchaser,
Purchaser, references
references mademade totocertain
certainclosing
closingcosts
costs
(paragraph
(paragraph "6"), and strict
'6'), and strict limitations
limitations on Purchase(s rights
on Purchaser's rights upon developer's
develope(s default (paragraph
(paragraph "6(b)"), PurchaserisIsfurther
"8(b)'). Purchaser furtheradvised
advised
that the
the condominium
condominium documents
documents contain
contain other
other important
important information,
information, including,
inclUding, but not
not limited
limited to,
to,information
lnfonnationrespecting
respecting the
the
schedule and other details for the turnover of controlcontrol ofthe
ofthe condominium
condominium association
association to
to unit
unit owners,
owners, other
other than
than the developer,
developer, and
the right
right to cancel certain contracts
contracts entered into by the condominium association before
condominium association before control
control is
is transferred
transferred toto unit.
unit owners,
owners, othsr
other
that the
that the developer.
developer, .

Purchaser acknOWledges,
Purchaser acknowledges,warrants
warrants and
and represents
represents that
that this
this Purchase Agreement is
Purchase Agreement is being
being entered
entered into
into by
byPurchaser
Purchaserwithout
without
reliance upon
reliance upon any
any representations
representations concerning
concerning any
any potential
potential future
future profit,
profit, any
any rental
rental income
income potential,
potential, tax
tax advantages,
advantages, depreciation
depreciation
or investment potential and without reliance upon
upon any other monetary
monetary oror financial
financial advantage,
advantage, Purchaser
Purchaser acknowledges
acknowledges that
that no
no such
such

_ _ _ _ Proc.
Proc. Mgr.
Mgr, Initials:
_ _ _ Purchaser
_ _ _ Purchaser
 (
(

representations
representations have
have been
been made by seller or any
any of
of its
its agents,
agents, employees
employees or
or representatives.
representatives. This
This page
page supersedes
supersedes,any
anyprevious
previous
one.

If Purchaser voids this

Purchaser voids this Contract in accordance
Contract in with this
accordance with this provision
provision, Purchaser
Purchaser shall
shall receive
receive a full
full refund
refund of
ofall
allEarnest
EarnestMoney
Money
collected and
coflected held by Escrow
and held Escrow Agent, only
only after
after Escrow
Escrow Agent verifies
verifies that such
such Earnest
Earnest Money
Money hashas been
been deposited
deposited into
into Escrow
Escrow
Agent's escrow account,
account, and that the sums that have been deposited
deposited have
have cleared
cleared the
the Escrow Agent'
Agent' banking
banking institution. Escrow
institution. Escrow
Agent may demand proof
proof of clearance in the form of a cancelled check or other proof acceptable to Escrow Agent

Receipt of deposit
deposit .in
n the sum of $$, is hereby
is hereby acknowledged
acknowledged by:
by: _

Contract is subject
This Contract SUbject to aa manager's
manager's approval
approval and supersedes
supersedes any previous contract.
contract. The authorized representative
representative on
on behalf
behalf of
of
LLC, AAFLORIDA
SKYRE, LLC FLORIDALIMITED
LIMITEDLIABILITY
LIABILITYCOMPANY,
COMPANY, isis Benjamin
Benjamin Klein.
Klein. .

34. THIS CONTRACT IS VOIDABLE BY BY PURCHASER

PURCHASER BY BY DELIVERING
DELIVERING WRITTEN
WRITTEN NOTICE
NOTICE OF
OF THE
THE PURCHASER'S
PURCHASER'S
INTENTION TO
INTENTION TO CANCEL
CANCEL WITHIN
WITHIN FIFTEEN (15) DAYS
FIFTEEN (15) DAYS AFTER
AFTER THE
THE DATE
DATE OF EXECUTION OF
OF EXECUTION OF THIS
THIS CONTRACT
CONTRACT BYBY THE
THE
PURCHASER,
PURCHASER, AND AND RECEIPT
RECEIPT BY
BY PURCHASER
PURCHASEROF OFALL
ALL OFOF THE
THE ITEMS REQUIREDTO
ITEMS REQUIRED TO BE
BE DELIVERED
DELIVERED TOTO HIM
HIM BY
BY THE
THE
SELLER
SELLER UNDER SECTION 718.503,
UNDER SECTION 718.503, FLORIDA
FLORIDA STATUTES.
STATUTES.THISTHIS CONTRACT
CONTRACTISIS ALSO
ALSO VOIDABLE
VOIDABLE BYBY PURCHASER
PURCHASER BYBY
DELIVERING WRITI'EN NOTICE OF THE PURCHASER'S
DELIVERING WRITTEN PURCHASER'S INTENTION TO CANCEL
INTENTION TO CANCEL WITHIN
WITHIN FIFTEEN
FIFTEEN (15)
(15) DAYS AFTER THE
DATE
DATE OF RECEIPT
RECEIPT FROM
FROM THE
THE SELLER
SELLER OFOF ANY
ANY AMENDMENT
AMENDMENT WHICH
WHICH MATERIALLY
MATERIALLY ALTERS
ALTERS OR MODIFIES
MODIFIES THE
THE
OFFERING
OFFERING ININ A MANNER THAT
THATISIS ADVERSE
ADVERSE TOTO THE
THE PURCHASER.
PURCHASER. ANYANY PURPORTED
PURPORTED WAIVER
WAIVER OF
OF THESE
THESE VOIDABILITY
VOIDABILITY
RIGHTS SHALL BE OF
RIGHTS OF NO
NO EFFECT.
EFFECT. PURCHASER
PURCHASER MAY EXTEND
EXTEND THE TIME FOR CLOSING FOR A PERIOD
PERIOD OFOF NOT
NOT MORE
MORE
THAN FIFTEEN (15)
THAN FIFTEEN AFTER ThE
(15) DAYS AFTER THE PURCHASER
PURCHASER HASHAS RECEIVED
RECEIVED ALL
ALLOFOFTHE
THEITEMS
ITEMSREQUIRED.
REQUIRED.PURCHASER'S
PURCHASER'S
RIGHT TO
TO VOID
VOID THIS
THIS CONTRACT
CONTRACT SHALL
SHALL TERMINATE
TERMINATE ATAT CLOSING.
CLOSING,

ORAL REPRESENTATIONS
·ORAL REPRESENTATIONS CANNOT
CANNOT BE RELIED
RELIED UPON
UPON AS
AS CORRECTLY
CORRECTLY STATING
STATING THE
THEREPRESENTATIONS
REPRESENTATIONS OF
OF THE
THE
DEVELOPER. FOR
DEVELOPER. FOR CORRECT
CORRECT REPRESENTATIONS, REFERENCESHOULD
REPRESENTATIONS, REFERENCE SHOULD BEBE MADE
MADE TO THIS
THIS CONTRACT
CONTRACT AND
AND THE
THE
DOCUMENTSREQUIRED
DOCUMENTS REQUIREDBYBY SECTION
SECTION718.503,
718.503,FLORIDA
FLORIDASTATUTES,
STATUTES, TOBE
TO BEFURNISHED
FURNISHEDBY BYAA DEVELOPER
DEVELOPER TO
TO AA
PURCHASER OR LESSEE.

SELLER: SKYRE,
SELLER: SKYRE, LLC
LLC,
a Florida limited liability company

xX'-;::-;-;;:::~~;:- _
PURCHASER

X-;:~==,..-
X _ BY: ;-;;---,---,=..,..,.,..,..,.,=,.,.,-- _
PURCHASER Authorized Representative
Represenlative

Date:._ _......,-
Date: _ Date:
Date: ..,..,., _

"

_ _ _ _ Proc. Mgr. Initials:

_ _ _ Purchaser
_ _ _ Purchaser
 ADDENDUM

THIS ADDENDUM
THIS ADDENDUM is is being executed simultaneously with, in
simultaneously with, in consideration
consideration of,
of, and
and as
as part
part of the
the foregoing
foregoing
Contract, The parties
Contract. The parties hereby
hereby further
further agree
agree as
as follows:
follows:

1,
1, Unless the context
Unless the context otherwise
otherwise requires, all initial
requires, all initial capitalized terms used
capitalized terms used but not
not defined
defined in
in this
this
Addendum,
Addendum, shalishall have
have the
the meaning
meaning or meanings
meanings given
given to such
such terms
terms in
in the
the Contract.
Contract. This
This Addendum
Addendum shall
shali bebe
deemed a part of, but
deemed but shall
shali take
take precedence
precedence over and supercede
supercede any any provisions
provisions to the contrary
contrary contained in, the
contained in, Ihe .
Contract. All
Contract. Ali references
references in
in the
the Contract
Contract or
or this
this Addendum
Addendum to the 'Contract"
"Contract" shall
shali be deemed to refer to the Contract
as modified by this Addendum, unless
uniess the context
context otherwise requires.

2. of Florida law, Buyer

In accordance with the requirements of Buyer is h?reby
hereby advised
advised of
of the
the following:
foliowing:

(a) FLORIDA STATUTES

CHAPTER 558, FLORIDA STATUTES CONTAINS
CONTAINS IMPORTANT
IMPORTANT REQUIREMENTS
REQUIREMENTS YOUYOU
MUST FOLLOW BEFORE YOU BRING ANY LEGAL ACTION FOR AN ALLEGED
YOU MAY BRING ALLEGED
CONSTRUCTION DEFECT IN IN YOUR
YOUR UNIT OR
OR CONDOMINIUM. SIXTY DAYS
CONDOMINIUM. SIXTY DAYS BEFORE
BEFORE
YOU BRING ANY LEGAL
YOU LEGAL ACTION, YOU MUST DELIVER TO THE OTHER PARTY TO
ACTION, YOU
THIS CONTRACT,
THIS CONTRACT, A A WRITTEN NOTICE REFERRING
WRITTEN NOTICE REFERRINGTOTO CHAPTER
CHAPTER 558
558 OF
OF ANY
ANY
CONSTRUCTION CONDITIONS
CONDITIONS YOU
YOU ALLEGE
ALLEGE ARE
ARE DEFECTIVE AND PROVIDE SUCH
PERSON THE
PERSON THE OPPORTUNITY
OPPORTUNITY TO INSPECT
INSPECT THE
THEALLEGED
ALLEGEDCONSTRUCTION
CONSTRUCTION
DEFECTS AND
DEFECTS AND TO CONSIDER MAKING AN
CONSIDER MAKING OFFER TO REPAIR
AN OFFER REPAIR OR
OR PAY
PAY FOR
FOR THE
THE
ALLEGED
ALLEGED CONSTRUCTION DEFECTS.YOU
CONSTRUCTIONDEFECTS. YOUARE
ARENOT
NOTOBLIGATED
OBLIGATEDTO ACCEPT ANY
0 ACCEPT
OFFER WHICH
OFFER WHICH MAYMAYBEBE MADE.
MADE. THERE
THERE ARE
ARE STRICT
STRICT DEADLINES
DEADLINES AND
AND
PROCEDURES
PROCEDURES UNDER THIS FLORIDA LAW WHICH MUST BE BE MET
MET AND
AND FOLLOWED
FOLLOWED
YOUR INTERESTS.
TO PROTECT YOUR INTERESTS.

(b) BUYER SHOULD

BUYER SHOULD NOT RELY ON THE THE SELLER'S
SELLER'S CURRENT
CURRENT PROPERTY
PROPERTY TAXES
TAXES AS
AS
THE AMOUNT OF PROPERTY TAXES THAT
PROPERTY TAXES THAT THE
THE BUYER
BUYER MAY BE OBLIGATED
OBLIGATED TO
PAY IN
PAY IN THE
THE YEAR
YEAR SUBSEQUENT
SUBSEQUENT TO TO PURCHASE.
PURCHASE. A CHANGE
CHANGE OF OWNERSHIP OR
PROPERTY
PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS
IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE THE PROPERTY
PROPERTY
THAT COULD
THAT COULD RESULT
RESULT IN
IN HIGHER
HIGHER PROPERTY
PROPERTY TAXES.
TAXES. IF
IF YOU
YOU HAVE
HAVE ANY
ANY
QUESTIONS
QUESTIONS CONCERMNG
CONCERNING VALUATION,
VALUATION, CONTACT
CONTACT TH COUNTY PROPERTY
THE COUNTY PROPERTY
APPRAISER'S OFFICE FOR INFORMATION.
OFFICE FOR INFORMATION.

3.
3. The execution
The execution of this addendum shall neither extend,
addendum shail extend, toil,
toll, nor reinstate any rights
rights of
of the
the Buyer
Buyer to
to
rescind the Contract
Contract pursuant
pursuant to the
the terms thereof,
thereof, or
or of
of Section 718.503(1 )(a),
Section 718.503(1 )(a), Florida Statutes.
Statutes.

4.
4. Except as
Except as expressly
expressly modified
modified by
by this
this Addendum,
Addendum, the
the provisions
provisions of
of the
the Contract
Contract are
are hereby
hereby ratified
ratified
and confirmed.

EXECUTED as of the date and year of

of the foregoing Contract.

BUYER: . "SELLER'
'SELLER"

SKYRE, LLC

By:
Name:
Trtle:
Title:

_ _ _ Proc.
Proe. Mgr.
Mgr. Initials:
___ Purchaser
Purchaser
_ _ _ Purchaser
 (

SCHEDULE "5"

THE WAVE, A CONDOMINIUM

ESCROW AGREEMENT ESTABLISHING ESCROW ACCOUNT BETWEEN

AND ESCROW AGENT
DEVELOPER AND
 and amount of Deposit received, address of the Purchaser,
received, the name and address and the
Purchaser, and the Unit
Unit number
number of
of
the Unit being purchased.

5. Release of Funds
Release from Escrow.
Funds from Escrow. Subject
SUbject to
to clearance
clearance of funds,
funds, Escrow
Escrow Agent shall release and
shall release and
disburse a Purchaser's Deposit escrowed hereunder in accordance with the following:

(a) Purchaser Cancellation.

Purchaser Cancellation. Escrow
Escrow Agent
Agent shall
shall pay
pay aa Deposit
Deposit to
to a Purchaser
Purchaser within teh ten (10)
days after
days after Escrow
Escrow Agent's
Agent's receipt
receipt of
of the
theDeveloper's
Developer's written
written certification that th
certification that the
Purchaser has
Purchaser has properly
properly terminated
terminated his
his Purchase
Purchase Agreement
Agreementpursuant
pursuanttoto its
its terms
terms or
under the Condominium Act.

(b) Purchaser Default.

Purchaser Default. Escrow
Escrow Agent
Agent shall
shall pay
pay aa Deposit
Deposit to
to Developer
Developer within ten (10) (10) days
days
after Escrow
after Escrow Agent's
Agent's receipt
receipt of
of Developer's
Developer's written
written certification
certification that
that the
the Purchaser's
Purchaser's
Purchase Agreement
Purchase Agreement has
has been
been terminated
terminated by
by reason
reason of
of aa Purchaser's
Purchaser's failure
failure to
to cure
cure a
default in
default In performance
performance ofof the
the Purchaser's
Purchaser's obligations
obligations thereunder.
thereunder. Such
Such certification
certification shall
shall
include the following:

(i) Developer's
Developer's statement
statement that defaulted and that
that the Purchaser has defaulted that the
the Developer
Developer
has not; .

(ii)
(H) A statement that, pursuant to the terms
terms of
of the
the Purchase
Purchase Agreement-,
Agreement-, Developer
Developer
is entitled to the Deposit held by Escrow
Escrow Agent;

(iii)
(Hi) that Developer
A statement that Developer has
has not
not received
received from
from the
the Purchaser
Purchaser written
written notice
notice of
of
a dispute between
between the
the Purchaser
Purchaser and
and Developer
Developer or
or aa claim
claim by
by the
the Purchaser to
the Deposit; and .

(iv) A stafement of the

statement of the exact
exact amount of the
amount of the beposit
Deposit that
that is to
to be
be disbursed
disbursed to
to
Developer. .

S (c) Closing. If the

Disbursement At Closinq.
Disbursement the Deposit
Deposit ofof aaPurchaser
Purchaser has
has not
notbeen
beenpreviously
previously
disbursed
disbursed inin accordance
accordance with
with the
the provisions
provisions ofof 5(a)
5(á) or 5(b) above,
above, Escrow
Escrow Agent shall
shall
pay such
pay such Deposit
Deposit to Developer
Developer at thethe closing,
closing, of
of the
the transaction
transaction as
as evidenced
evidenced byby the
the
certificate of Developer,
certificate Developer, unless
unless prior
prior to
to such
such disbursement
disbursement Escrow
Escrow Agent
Agent receives
receives from
from aa
Purchaser written
Purch1jser written notice
notice of aa dispute
dispute between
between such
such Purchaser
Purchaser and
and Developer.
Developer. Such
certificate from Developer
Developer shall include
include the
the following:
following:

(i)
(i) A statement
statement that Purchaser
Purchaser has
has not
not cancelled
cancelled the
the Purchase
Purchase Agreement;
Agreement;

(ii)
(H) A statement that closing of the appticable
applicable Unit has occurred;
occurred; and
and

(iii)
(Hi) A statement
statement of the
the exact
exact amount
amount of. the Deposit
of the that is to
Deposit that to be
be disbursed
disbursed to
to
Developer.

(d) Other Disbursements.

Disbursements. Escrow Agent
Escrow shall, at any
Agent shall, any time,
time, make distribution of aa
makedistribution
Purchaser's Deposit
Deposit upon:
upon:

(i) written direction

direction duly
dUly executed
executed by_Developer an~. Purchaser, or
by. Developer ancj or

(ii)
(H) an appropriate order
order of
of aa court
court of
of competent
competent jurisdiction.
jurisdiction.

6. Investment of
investment of Funds.
Funds. Escrow
Escrow Agent
Agent will
will invest
invest the
the escrow
escrow funds
funds only
only in
in securities
securities of
of the
the United
United
States or any agency
agency thereof, or in
in accounts
accounts in in institutions
institutions the
the deposits
deposits of which
which are
are insured
insured by
by
an agency of the
the United
United States,
States, and selected by Developer
Deveioper by notice to Escrow
Escraw Agent from from time
time
Theescrow
to time. The escrow account
account shall
shall be
be in
in the
the name
name of of Escrow
Escrow Agent,
Agent, and
and shall
shall be
be clearly
clearly denoted
denoted

2
 .
( (

ESCROW AGREEMENT

THIS ESCROW
THIS ESCROW AGREEMENT
AGREEMENT (this (this "Escrow
"Escrow Agreement")
Apreement") isis made
made and
and ,entered
entered into this _ _
day of 2004 by and between
between SKYRE LLC, LLC, a Florida limited liability company, whose
whose
is 7491
address is 7491 West Oakland
Oakland. Park Blvd.,
Blvd., Suite
Suite 100,
100, Lauderhill,
Lauderhill, FL 33316,
33316, (the "Developer")
"Developer") and
and ROYAL
th
TITLE &
TiTLE & ESCROW COMPANY, with
ESCROW COMPANY, with anan address
addressof of 555
555 NE
NE 15
is Street, Suite 100, 100, Miami1
Miami, Florida 33132
("Escrow Agent").
("Escrow Aqent"). Developer
Developer and
and Escrow
Escrow Agent
Agent acknowledge
acknowledge that that the. Division of Florida
the. Division Florida Land Sales,
Saies,
Condominiumsand
Condominiums and Mobile
Mobile Homes
Homes (the (the "Division"),
"Division"),whose
whose address
address isis 1940
1940 North
North Monroe
Monroe Street,
Street,
Tallahassee, Florida 32399-1033,
32399-1033, is
is aa beneficiary
beneficiary of
of this
this Escrow
Escrow Agreement.
Agreement.

RECITALS:

Developer proposes to
Developer proposes to develop
develop a condominium
condominium project
project in St. Petersburg,
in St. Florida, to
Petersburg, Florida, to be
be located
located
5gth
th
approximately at 3315 58
approximately Avenue South,
Avenue South, St. Petersburg,
Petersburg, Florida,
Florida, named THE WAVE,
WAVE, aa Condominium
Condominium
(as may hereinafter
hereinafter be
be renamed,
renamed thethe "Condominium").
"Condominium").

intends to
Developer intends to enler into contracts
contracts for
for purchase
purchase and
and sale
sale (the
(the "Purchase
"Purchase Contracts")
Contracts") for
for the
the sale
sale of
'Units") in
units ("Units") in the Condominium.

Developer desires
Deveioper dSires to
to make
make arrangements
arrangements with Escrow
Escrow Agent to escrow all or a portion of each deposit for
each Purchase Agreement (collectively, the "Deposits")
each Purchase Agreement (collectively, the "Deposits")inin accordance
accordance with
with the
the provisions
provisions of
of the
the
Condominium Act (Section 718.202, Florida
Condominium Florida Sialutes).
Statutes).

Escrow Agent
Escrow Agent has
has consented
consented toto hold
hold and
and disburse
disburse the
the Deposits
Depositsitit receives
receives pursuant
pursuant toto the
the terms
terms and
and
provisions hereof

NOW THEREFORE,
NOW THEREFORE, inin consideration
consideration of
of $10.00
$10.00 and
and other good
good and
and valuable
valuabie consideration,
consideration, Escrow
Escrow
Agent and Developer agree as follows:

1. Recitals. The
Recitals. The foregoing
foregoing Recitals
Recitals are
are true
true and
and correct and are
are, hereby incorporated herein.
herein.

2. Establishment
Establishment ofof Escrow.
Escrow. The
The parties
parties hereto
hereto establish
establish an escrow for the purposes of receiving,
receiving,
holding and
holding and disbursing
disbursing funds
funds as
as required
requiredunder
underthetheCondominium
CondominiumAct. Act. Funds
Funds deposited
deposited in
in this
this
ii escrow,
may, at the
escrow may,
escrow, or
the election
election of Escrow Agent,
or commingled
commingled with
with the
the other
Agent, be
other escrow
be deposited
deposited in
escrow monies
moniesreceived
fri separate
separate accounts,
received byby or
accounts, or in a cpmmon
orhandled
handled by
common
by Escrow·Agent.
Escrow'Agent.

3. Deposit
Deposit ofof Funds.
Funds. So So long
long as
as required
required by by the
the Condominium
Condominium Act, Act, in
in connection
connection with sales
sales of
of
Units, Developer shall
Units, Developer shall promptly
promptly deposit
deposit funds
funds received
received from from Purchasers
Purchasers withwith Escrow
Escrow Agent
Agent inin
such
such amount or amounts
amounts as as are
are required under the
required under the Condominium
Condominium Act Act and
and under
under the
the Purchase'
Contracts.
Contracts. Developer
Developer will deliver the the Deposits
Deposits in in the
the form
form of checks
checks payable
payable toto or endorsed
endorsed to to
Escrow Agent. Developer
Escrow Agent. Deve.loper shall, at the time of each deposit, deposit, furnish Escrow Agent
furnish Escrow Agent aa copy of the.
the
Purchase Agreement
Purchase Agreement applicable
applicable to to the
the Purchaser
Purchaser (and (and all
all amendments
amendments thereto),
thereto), the
the amount of of
such funds,
such funds, being
being delivered
delivered toto Escrow
Escrow Agent,
Agent, thethe' full
full name,
name, mailing
mailing address
address and
and telephone
telephone
number
Dumber of the the Purchaser,
Purchaser, as as applicable,
applicable, andand such
such other
other information,
information as Escrow
Escrow Agent
Agent shall
shall
'reasonably
reasonably require. The The sole
sole responsibility
responsibility forfor determining
'determiningwhetherwhetherorornotnotthe
the amount
amount of of the
the
funds deposited "in
funds deposited in escrow
escrow comply
comply with the the Condominium
Condominium Act shall shall be,
be. that of
of Developer,
Developer, and.
and
Escrow Agent
Agent shall
shall only
only bebe responsible
responsible forforfunds
fundsactually
actual!yreceived.
received. All
All checks
checks oror drafts
drafts received
received
are received subject
subject to
to collection.
collection. Any
Any bank charges assessed
assessed <'lgainst
against the
the account
account in
in general
general will
will
be reimbursed by Developer
Developer upon
upon notification by
by Escrow
Escrow Agent. • ' .

4. Receipt
Receipt and
and Acknowledqment.
AcknOWledgment. UponUpon request, Escrow Agent
request, Escrow Agent shall
shall deliver
deliver to
to a Purchaser
Purchaser aa
receipt fora
receipt for'a Deposit on the
the form
form provided
provided byby Developer
Developer with
with all
all information
information completed
coñipleted for
for Escrow
Escrow
Agent to acknowledge such
such receipt.
r.eceipt. Such
Such receipt
receipt shall
shall identify
identify the
the Condominium,
Condominium, state
state the date
date,

Escrow Agreement.doc
 on the records
on records of Escrow
Escrow Agent
Agent as an escrow account.
account. AsAs provided
provided inin thethe Purchase
Purchase Contracts,
Contracts,
any interest earned, shall be
earned, shail be governed
governed byby Section
Section 718.202(1),
718.202(l), Florida
Florida statutes.
Statutes. Escrow AgentAgent
shail or Insolvency
shall have no liability in the event of a failure or insolvency of
of the
the institution in in which
which the
the funds
funds are
are
invested and is hereby released
released and exonerated from any and all ail liability, whether now
now existinU
existing or
hereafter arising, by
hereafter arising, by reason
reason of of any
any loss
loss resulting
resUlting from
from the
the failure
failure of of any
any such
such designated
designated
institution to pay upon demand,
demand, monies
monies deposited herein
herein or interest accrued
accrued thereon.
thereon.

7. Provisions.
General Provisions.

(a) Instructions to
Instructions to Escrow Aqent. The following
Agent. The procedure shall
foilowing procedure shall be
be used
used by the
the parties
parties
to Escrow Agent:
concerning instructions to

(i) All
Ail instructions
instructions to Escrow Agent shallshail be
be in
in writing
writing and
and signed
signed by
by the
the.person
.person or
or
persons
persons requesting
requesting such
such instructions.
instructions. Any
Any instructions which are
instructions which are jointly
jointly
authorized by all
ail parties shall be
be signed
signed by
by all
ail persons.
persons.

(Ii) Except as
Except as may
may otherwise
otherwise be
be set forth
forth herein
herein to contrary, Escrow Agent shall
to the contrary, shail
only
only take
take direction
direction by
liy Developer,
'Developer, and
and shall not take
shail not ti!l!,e' direction
direction from
from any
any
Purchaser(s). The
Purchaser(s). The duties
duties of
of Escrow
Escrow Agent shall
shail be
lie limited to the safekeeping of
the
the deposits
deposits and
and for disbursements of same
disbursements of same in accordance
accordance with
with the written
written
instructions described above.

(iii) shail immediately

Developer shaU immediatelydeliver
deliver to
to Escrow
Escrow Agent
Agent copies of any written notice notice
or request from aa Purchaser
Purchaser relating
relating to
to aaPurchaser
Purchaser Agreement
Agreement and and this.
this. Escrow
Escrow
Agreement, Developer
Agreement. Developer hereby
hereby agrees
agrees to to indemnity
indemnity and
and hold
hold Escrow
Escrow Agent free.free
and harmless from and against any any claims,
claims, causes of of action,
action, liability
liability or
or expenses
expenses
arising from Developer's
arising from Developers failure
failure to promptly deliver a copy to
promptly deliver to Escrow
Escrow AgentAgent ofof
written request
any written request by Purchaser for a refund
refund of aa Deposit.
Deposit

8. Interest. If Purchaser properly terminates

Purchaser properly terminates the
the Purchase
Purchase Agreement
Agreementpursuant
pursuanttoto its
its terms,
terms, or
pursuant to
pursuant Chapter 718,
to Chapter 718, Florida Satutas, any
Florida Satutes, any interest
interest earned
earned onon the funds maintained
the funds maintained in in the
Escrow Account shall be paid
Account shall paid to
to the
the Purchaser.
Purchaser. Notwithstanding
Notwithstanding thethe foregoing,
foregoing, any interest
interest
earned on the funds maintained
maintained in shail, upon the closing of
in the Escrow Account shall, of the transaction,
transaction,
become property
become property of
of the
the Escrow
Escrow Agent
Agent to defray
defray the
the costs
costs associated
associated with
with maintaining
maintaining andand
administering lhe
Ihe Account.

9. Successor toto Developer. In the

Developer. In the event
event any
any mortgagee
mortgagee of
of Developer,
Developer, by
by foreclosure,
foreclosure, deed
deed inin lieu,
lieu,
or otherwise, succeeds to the rights of Developer with respect to any Purchase Agreement and/orand/or
the Deposits
Deposils held in escrow pursuant
pursuant to
to this Escrow
Escrow Agreement, such mortgagee
Agreement, such mortgagee shall
shall succeed
succeed
to the
to the rights
rights of
ofDeveloper
Developer under
under this
this Escrow
Escrow Agreement
Agreement with
with respect
respect toto such
such Purchase
Purchase
Agreement.

10.
10 Developer acknowledges
Compliance. Developer acknowledgesthat thatany
anywillful
willfulfailure
failuretoto comply
comply with
with the
the escrow
escrow
provisions of Section
Section 718.202,
718.202, Florida \0 Section
constitutes a criminal offense pursuant to
Florida Statutes, constitutes Section
718.202(7), Florida Statutes.
Statutes.

11. Assurance. Developer

Alternative Assurance.
Alternative reserves the
Developer r"serves the right
right to
to post.
post anan alternative
alternative assurance
assurance in In
accordance with
accordance Section 718202
with Section 718.202, Florida Statutes,,
Statutes, and Chapter 618-17.009,
and Chapter 61B-17.009, Florida
Administrative Code. The
Administrative Code. The director
director of
of the
the Division-has
Division- has the discrelion
discretion to accept other assurances
assurances
('Alternative Assurance") from
("Alternative Assurance") from Developer
Developer inin lieu
lieu of the
the escrow
escrow of of ail
all or any portion of the the funds
funds
required to
reqUired to be
be escrowed
escrowed hereunder. Developer may,
hereunder. Developer may, but
but isis not
not obligated
obligated to, to, submit
submit to thethe
Division for approval a letter of credit (the
(the "Letter
"Letter of
of Credit")
Credit") or
or other
other Alternative
Alternative Assurance,
Assurance, such
such
as surety bonds
lionds ("Surety Bonds") or
("Surety Bonds") or cash,
cash, as
as may
maybebe approved.by
approved by the Division from time time to
to time.
time.
If the accepts the
the Division accepts tne Alternative
Alternative Assurance as being' sufficient
sufficientunder
under the the Condominium
Condominium Act Act.
and this Agreement,
Agreement, suchsuch Alternative
Alternative Assurance
Assurance will
will serve
serve asas security
security for
for ail
all or
or a portion
portion of the

3
 (

Deposits otherwise required

Deposits otherwise required toto be
be esbrowed
escrowed hereunder
hereunder in in accordance
accordance with with the
the terms
terms and
and
conditionsof
conditions ofthis
this Escrow
Escrow Agreement.
Agreement. Developer
Developershall
shall be
be obligated
obligated to
to furnish
furnish Escrow
EscrowAgent
Agent with
with
a copy
copy ofof the
the Division's
Division's approval
approval o 0\any
anyAlternative
Alternative Assurance
Assurance along
along with the the certificate
certificate of
Developer that
Developer that such
such Alternative
Alternative Assurance
Assurance isis adequate
adequate inin amount
amount toto cover all Deposits
Deposits to to be
be
made in connection
connection withwith the Condominium.
Condominium. Notwithstanding
Notwithstanding anything
anything contained
contained herein to the
herein to the
contrary,
contrary, no increase
increase oror substitute
substitute Alternative
Alternative Assurance
Assurance arrangements
arrangements shall shall be instituted,
instituted, and
and
Escrow Agent may not rely rely on
on any
any such
such increased
increased or
orsubstitute
substitute Alternative
Alternative Assurance,
Assurance, without
without
the prior written approval of of the Division.

(a) Holdine of Funds

Holding Funds Secured
Secured by by the
the Alternative
Alternative Assurance.
Assurance. For For so long
long as
as Developer
Developer
maintains
maintains anan acceptable
acceptable Alternative Assurance as
Alternative Assurance as contemplated
contemplated herein,
herein, Developer
Developer will
not be required to escrow the Deposits otherwise recjuired required toto be
be escrowed
escrowed hereunder with with
Escrow Agent;
Escrow Agent; provided
provided however,
however, that the total
that the total amount
amount of of Deposits
Deposits retained
retained by by
Developer
Developer isis less
less than or equal to to the
the amount
amount ofof the
the Alternative
Alternative Assurance,
Assurance, including
including allall
increases and
increases and extensions
extensions thereof
thereofwhich
whichmay
may bebe approved
approved by by the
the Division
Division from
from time
time to
time. Provided
Provided further
further that
that in
in the
the event
event that
that Developer
Developer receives
receives Deposits which
which in total
exceed the amount
ex.ceed the amount of the the Alternative
Alternative Assurance,
Assurance, any such excess excess Deposits
Deposits shall
shall be
be
delivered to Escrow
delivered to Escrow Agent immediately in accordance with the procedures set forth
immediately in accordance with the procedures set forth
herein. Alternatively,
herein. Alternatively, such
such excess
excess Deposits
Deposits may be redelivered
redelivered to Developer by Escrow Escrow
Agent
Agent upon
upon the receipt
receipt byby Escrow
Escrow Agent
Agent ofof acknowledgment
acknowiedgment by the Division Division that
that the
the
Division is inin possession
possession of an an acceptable
acceptable increase
increase in the the amount
amount of of Alternative
Alternative
[)eposits.
Assurance to cover the excess of the Deposits.

(b) Monthly Accounting.

Accountinq. Developer
Developer shall
shall provide Escrow Agent with
with a monthly accounting
accounting of
all
all Deposits
Deposits which
which are
are not
not escrowed
escrowed because
because of thethe existence
existence ofofananAlternative
Alternative
Assurance, which monthly
Assurance, which monthly accounting
accountingshall
shallbe
be used
used by
by Escrow
Escrow Agent
Agent as
as a means
means of
compiling the status
compiling the status report
report required
required hereinafter.
hereinafter. Escrow
Escrow Agent, shall
shall be
be entitled
entitled toto fully
fully
and
and completely rely upon
completely rely upon the
the accuracy
accuracy ofof said
said monthly
monthly accountings.
accountings. Such
Such monthly
monthly
reports shall
reports shall indicate
indicate the
the amount
amount ofof monies
monies then
then held
held by
by Developer and a list
Developer and list of
of the
the
Purchasers who have made such such deposits.
deposits.

(c) Expiration of Alternative Assurance.

Expiration Notwithstanding anything
Assurance. Notwithstanding anything contained
contained herein
herein to the
the
contrary: -

(i)
(I) Developershall
Developer shall supply
supply the
the Division with a replacement
Division with replacement to to the
the Alternative
Alternative
Assurance
Assurance which acceptable to
which is acceptable to the Division at least forty-five (45)
(45) days
days prior
prior to
to
the expiration of the Alternative Assurance.

(i1)
(H) If Escrow
Escrow Agent
Agent has
has not received
received notification from the Division
notification from Division that
that Developer
Developer
hathcomplied
has compliedwith
withParagraph
Paragraph(c)(c)(1) (1)above,
above,thenthenthirty
thirty(30)
(30) days
days prior
prior to
to the
the
expiration
expiration of the Alternative Assurance, Escrow
Allernative Assurance, Escrow Agent
Agent shall
shall prOVide
provide the Division
Division
with a statementshowing
with statement showing the the status
status of
of the
the total
total funds
funds secured
secured byby the
the Alternative
Alternative
Assurance as
Assurance as of the thirtieth
thirtieth (30th)
(30th) day prior to the expiration
expiration of thethe Alternative
Alternative
Assurance based on the monthly reports furnished by by Developer.
Developer.

(iii) Escrow Agent

Escrow Agent shall
shall then
then make demand
demand for payment
payment from Developer
Developer to to Escrow
Escrow
amount oftbtal
Agent of that amount of total funds
funds secured
secured by by the
the Alternative
Alternative Assurance.
Assurance. In In the
. event such
such payment is not forthcoming
forthcoming fromfrom Developer within
within five (5)
(5) days
days from
from
mailing of
mailing of demand
demand by by Escrow
EscrowAgent.Agent. Then
Then Es'crow
Ebrow Agent
Agent and/or
and/or thethe Division
Division
shall make demand
shall demand upon the Alternative Assura'nce
the Alternative Assurance to to the extent of of the
the amount
amount
of funds
of funds and
and place
place such
such funds
funds with
with Escrow
Escrow Agent, which shall
Agent, which shall then
then be be
responsible maintaining such
responsible for maintaining such funds
funds ininaccordance
accordancewithwiththis
thisAgreement.
Agreement. In in the
the
event
event Escrow Agent fails
Escrow Agent fails to make
make the
the necessary
necessary demand
demand' on on the
the Alternative
Alternative
Assurance as
Assurance as set forth above, the
forth above, the Division
Division shall
shall have
have the
the right
right to then
then make
make thethe .
demand
demand on on the
the Alternative Assurance inin accordance
Alternative Assurance accordance withwith the
the terms
terms of of this
this

4
 Agreement and such funds shall be placed in
funds shall Agreement,
in escrow pursuant to this Agreement.
It is understood that this
this procedure
procedure shall
shall similariy
similarly be
be followed
followed in
in the
the event
event ofof any
any
dispute with
dispute with any
any Purchaser relating to
Purchaser relating to refunds
refunds of any any funds
funds secured
secured by by the
the
Alternative Assurance
Alternative Assurance from
from time
time to
to time
time that
that is not
not resolved
resolved within fifteen
fifteen (15)
days from the date that Developer receives notice of of the
the dispute.
dispute.

(d) Release of Funds

Release Funds to
to Developer.
Developer. Funds
Funds retained
retained by Developer pursuant
pursuant to
to Paragraph
Paragraph (a)(a)
above, which are secured by the Alternative
above, which Assurance, may
Alternative Assurance, may only be released
released from
frorn the
Alternative Assurance upon presentation
Assurance upon presentation toto Escrow
Escrow Agent
Agent of
of one
one of the certifications
certifications set
forth
forth in Paragraphs
Paragraphs 5(b)
5(b) and
and 5(c),
5(c), with
with the
the additional
additionai language
language that funds previously
thatfunds previously
released are no longer required to be secured
secured by the Alternative Assurance.

(e) Previously Released

Previously Released Funds.
Funds. Funds
Funds previously
previously released to to Developer
Developer which are secured
by the
the Alternative
Alternative Assurance
Assurance may be be released
released from
from the
the Alternative
Alternative Assurance
Assurance uponupon
cancellation by a Purchaser
cancellation by Purchaser pursuant
pursuant to Paragraph
Paragraph 5(a)5(a) upon
upon presentation
presentation toto Escrow
Escrow
Agent of
of an
an affidavit
affidavit stating
stating that
that Developer
Developer has
has fully
fully refunded
refunded Purchaser
Purchaser in
in accordance
accordance
with the terms of the Purchase
Purchase Agreement.
Agreement.

(f) Other Condominiums. Itttisis acknowledged

acknoWledged that
that the
the Alternative
Alternative Assurance
Assurance may
maycpver
coverother
other
condominiums
condominiums both within and outside the Project being developed by by Developer
Developer and
and its
its
affiliates. In
In the
the event
event that
that an
an Alternative
Alternative Assurance
Assurance is amended
amended to cover
cover any
any other
other
condominium,
condominium, the the Division
Division shall
shall be
be furnished
furnished with
with such
such original
original amendnient.
amendment. Developer
Developer
shall deliver to Escrow Agent a copy of the the Division's approval
approval of such amendment.
amendment.

(g) Assurance No No Loncier Required. If any outstanding

Longer Required. Alternative Assurance
outstanding Alternative Assurance is is no longer
longer
required in
reqUired in order
order to enable
enable Escrow Agent to
Escrow Agent to satisfy
satisfy the
the conditions set forth
conditions set forth in
in the
the
Condominium Act and
Condominium and herein,
herein, then
then Developer
Developer shall
shall so
so notify
notify Escrow
Escrow Agent
Agent and
and the
the issuer
issuer
in
In written
written forth
forni by certified
certified mail atat least
least forty-five
forty-five (45) days
days in advance
advance of the the expiration
expiration
date
date of of the
the Alternative
Alternative Assurance
Assurance and and Escrow
Escrow Agent
Agent shall
shall return
return the
the Alternative
Alternative
Assurance to
Assurance to the
the issuer.
issuer. For
For purposes
purposes of of this
this subparagraph,
SUbparagraph, thethe expiration date of any
expiration date
Alternative Assurance
Alternative Assurance which
which is automaticallyrenewable
Is automatically renewableshallshall bebe extended
extended by the the
applicable renewal
applicable renewal periods
periods unless Escrow Agent receives notice from the the issuer
issuer that
that the
the
will not renew the Alternative Assurance.
issuer will Assurance. Escrow
Escrow Agent
Agent isis authorized
authorized to to rely
rely upon
upon
statement from
a statement from Developer as as to
to whether
whether Alternative
Alternative Assurance
Assurance Is is no
no longer required
required to to
satisfy the conditions set forth in in the
the Condominium Act Act and
and herein.
herein. .

12.
12 Conflictinci Claims
Conflicting Claims for Escrowed
Escrowed Funds,
Funds. Should Escrow
Should Agent receive
Escrow Agent recEllve conflicting
conftlcting notices
notices or
or
dem~lnds for
dem?nds for a Deposit
Deposit held
held'in
in escrow
escrow on
on behalf
behalf ofofany
anyPurchaser,
Purchaser, Escrow
Escrow Agent
Agent shall
shall
immediately notifY
Immediately notify the
the Division
Division of the dispute
dispute andand either promptly submit the matter to arbitration,
or seek
seek anan adjudication
adjUdication of the the matter
matter by
by interpleader
Interpleader or otherwise. Escrow
or otherwise. Agent shall
Escrow Agent shall be
be
indemnified by
indemnified by the
the applicable Purchaser and
applicable Purchaser and Developer,
Developer,Jointly
jointly andand severally,
severally, forfor all
all costs,
costs,
including reasonable
including reasonable attorneys'
attorneys' and
and paraprofessional
paraprofessionalfees,fees,at
attrial
trialand
andupon
upon.appeal,
appeal,ininconnection
connction
with the aforesaid arbitration
arbitration or interpleader action, and
interpleader action, and shall
shall be
be fqlly
fully protected
protected in
in suspending
suspending all all
or a part
part of
of its
its activities
activities under
under this
this Escrow
Escrow Agreement
Agreement until
until aa final
final judgment
judgment inin the
the interpleadec
interpleader
action, if applicable,
action, applicable, is is received. Escrow Agent
received. Escrow Agent shall continue
continue to hold the disputed
disputed Deposit
Deposit during
the resolution
resolution of any conflict by arbitration;
arbitration; provided, however, Escrow Agent may interplead interplead any
any
Deposit and not hold
Deposit and hold the
the same
same pursuant
pursuant toto this
this Escrow
EscrowAgreement
Agreementat at any
any time.
time. Escrow
Escrow Agent is
also counsel
counsel for Developer
Developer and and is authorized
authorized to to continue
continue to
to represent
represent Developer
Developer In in the
the event of
any dispute between Developer and any any Purchaser.
Purchaser. "

13. Duties of
Duties of Escrow
Escrow Aqent
Agent are
are Administrative.
Administrative. TheThe duties
duties of Escrow
Escrow Agent
Agent hereundet
hereunder shall
shall be
be
entirely administrative
entirely administrative inin nature and
and not
not discretionary. Escrow Agent
discretionary. Escrow Agent shall
shall be obligated
obligated to act
act
only in accordance with
in accordance written instructions received
with written received by it as provided inin this
this Escrow
Escrow Agreement,
Agreement,
and
and is hereby authorized
authorized toto comply
comply with
with any orders,
orders, judgments,
judgments, oror decrees
decrees of of any
any court,
court, with
with or
or·
without jurisdiction,and
without jurisdiction, andshall
shallnot
not be
be liable
liableas
asaa result
resultof
ofits
its compliance
compliancewithwiththe
thesame.
same, Escrow

5
 (
r..
~
I',]
bl
L'..'j Agent shall
Agent shall have
have no duty
duty or
or obligation
obligation to
to assure
assure itself
itself that
that the
theoperation
operation of ofthe
theCondominium
Condominium
and/or marketing of the Units
Units within the Condominium by Developer
Developer is is in
in full, compliance with
full compliance with the
Condominium Act
Condominium Act prior
prior to
to the
the disbursement
disbursement to' Developer of any
to Developer any Deposit
Depositor 'or interest
interest thereon.
thereon.
Further, Escrow Agent
Further, Agent shall
shall have
have no
no responsibility
responsibility or
or liability
liability with
with respect
respect to to Purchasers'
Purchasers Deposits
received by Developer
received Developer which
which are
are not
not properly
properly delivered
delivered to to Escrow
Escrow Agent
Agent in in accordance
accordance with with the
the
provisions hereof.

14. Monthly statements.

Monthly Statements. The
The Escrow
Escrow Agent
Agent will send
send monthly
monthly statements
statements on
on the
the Escrow
Escrow Account
Account toto
Developer at the
the address
address set
set forth
forth above.
above. Escrow
Escrow Agent agrees
agrees that
that the Division shall have the
right to inspect the books and records of Escrow Agent with respect
respect to
to this
this Agreement
Agreement upon
upon the
the
reasonable prior notice of
of the
the Division.
Division.

15. Indemnity. From

Indemnity. From and and at at all
all times
times after the date of this Escrow Agreements Developer shall, shall, to the
fullest extent
rullest extent permitted
permitted by law, law and and to to the
the extent provided herein,
extent provided herein, indemnify and hold harmless harmless
Escrow Agent
Agent andand each director,
director, officer,
officer, employee,
employee, attorney,
attorney, agent
agent and and affiliate
affiliate of Escrow Agent Agent
(individually. indemnified Party
(individually, "Indemnified Party it; collectively,
collectively, the the "Indemnified Parties') against
"Indemnified Parties") against any and and all all
actions, claims (whether or not valid), valid), losses, damages, liabilities, costs and expenses of of any
any kindkind
or nature
nature whatsoever,
whatsoever, (including
(including withoutwithout limitation
limitation reasonable
reasonable attorneys
attorneys fees, paraprofessional
paraprofessional
fees,
fees, costs and and expenses)
expenses) Incurred incurred by by' oror asserted
asserted against
against any of the Indemnified
Indemnified Parties Parties from from
and after the datedate hereof1 whether direct,
hereof, whether direct, indirect
indirect or or consequential,
consequential, as as aa result
result of or arising
arising from from
on in any
any way
way relating
relating to to any
any claim,
claim, demand,
demand, suit, suit, action or proceeding
proceeding (including any inquiry inquiry or
investigation)
investigation) by by any person,
person, whetherwhether threatened
threatened or or initiated,
initiated, asserting
asserting aa claim
claim for any any legal
legal or or
equitable
equitable remedy against any person person under under any any statute
statute or or regulation,
regulation, inclUding,
including, but not limited to, to,
any federal
federal or state securities
securities laws, laws, or under any common law or or equitable
equitable cause
cause or or otherwise,
otherwise,
arising from or or in
in connection
connection with with thethe negotiation,
negotiation, preparation,
preparation, execution,
execution, performance
performance or or failure
failure
of performance of this Escrow Agreement or any transactions 'contemplated contemplated herein herein (including
(including the the
sales of
sales of the
the Units
Units within
within the the Condominium)
Condominium) whether whetherorornot notany any such
such oneone or or more
more of the the
'Indemnified
Indemnified Parties
Parties are ae parties
parties to to any
anysuch such action,
action, proceeding,
proceeding, suit suit o,r
or the target
target of of any
any suchsuch
inquiry or investigation;
inqUiry pràvided, however,
investigation; provided, however, that that no
no Indemnified
Indemnified Party Party shall
shall have
have the the right to to bebe
indemnified hereunder
indemnified hereunder for for any
any liability finally determined
liability finally determined by by a court
court of
ofcompetent
competent jurisdiction,
jurisdiction,
subject to
subject to no
no further
further appeal,
appeal, to to have
have resulted
resulted solely
solely from
from the thegross
grossnegligence,
negligence. or or willful
willful
misconduct of such Indemnified
Indemnified Party. Party. If any such action action or or claim'
claim shall be be brought
brought or or asserted
asserted
against any Indemnified Party, Party, such
such Indemnified
Indemnified Party shall promptly notify Developer in in writing,
writing,
and Developer shall
and shall assume the defense defense thereof,
thereof, including the employmentemployment of of Oounsel
counsel and and the
payment·of
payment of all
all expenses.
expenses. Such Such Indemnified
Indemnified Party Party shall,
shall, inin its
its sole
sole discretion,
discretion, have
have the the right
right to to
employ separate
separate counsel
counsel in any 'any such
such action
action and and to participate
participate in in the
the defense
defense thereOf,
thereof, and the the
fees and expenses of such counsel shall be paid by such Indemnified Indemnified Party unless unless (a) (a) Developer
Developer
agrees to to pay such
such fees
fees and and expenses,
expenses,or or(b)
(b)Developer
Developershall shallfail
failtotoassume
assumethe thedefen$e
defene of such such
action
action or proceeding
proceeding or shall shall fail,
fail, inin the
the reasonable
reasonable discretion
discretion of of sUch
such Indemnified
Indemnified Party, Party, to to
employ counsel satisfactory
employ counsel satisfactory to to the
the Indemnified
Indemnified Party Party inin any
any such
such action
action proceedings,
proceedings, or or (c) the
named parties
named parties to to any such such action or proceeding (including any impleaded
proceeding (inclUding impleaded parties) include both
the lndeinnified
the Indemnified Party Party (or Indemnified
Indemnified Parties, Parties, ifif applicable)
applicable) and and Developer,
Developer, and and one one or more more
Indemnified Parties shall
Indemnified Parties shall havehave been been adVises:!
advised' by by counsel
counsel that that there
there may be ,one one or m'ore more legal legal
defenses
defenses available
available to to itit which
which are are different
different from from oror additional
additional to to those
those available
available to to Developer.
Developer.' All
such fees and expenses payable by Developer pursuant to to the foregoing sentence shall shall be be paid
paid
from time to time as incurred, incurred, both both in advance
advance of and after the final disposition of of such
such actionaction or or
claim. In Inaddition,
addition,Developer
Developerhel-eby hereby agrees to indemnify Escrow Escrow Agent and hold hold itit harmless
harmless from from
'any
any liability of Escrow Agent Which which shallshall arise
arise asas aa result
result of.the
of the breach
breach or or violation
violation by Developer
Developer
of any of the provisions of the Condominium Condominium Act, Act, or any other rules,rUles, regulations, or or laws
laws affecting
affecting
the Condominium.
the Condominium. Developer Developer hereby hereby agreesagreesthat thatititshall,
shall,atatallalltimes,fiIe
timS,file allall required
required documents
documents
with the Division
Division and complycomply with all all of
of the
the provisions
provisions the the Condominium,
Condominium Act, Act, as well as as all'
all other
federal, state,
federal, state, and
and local
local regulations
regulations effectingeffecting the the Condominium.
Condominium. The The obligatiob's
obligations of DeveloperDeveloper
under this
this section shall survive
section shall survive any any termination
termination of of this
this Escrow
Escrow Agreement
Agreement and and the
the resignation
resignation or or
removal of Escrow'Agent.
Escrow Agent.

6
 16.
16. Limitation of Liability.

(a) The obligations

The of Escrow
obligations of Escrow Agent
Agent shall
shall be
be determined
determinedsolely
solelyby
bythe
theexpress
expressprovisions
provisionsofof
this Escrow Agreement.
this Agreement. No
No representation,
representation, warranty, covenant, agreement, obligation or
duty of Escrow Agent shall
shail be implied
Implied with respect to this
this Escrow Agreement or
Escrow.Agreement or Esàrow
Escrow
Agent's services hereunder.

(b) Escrow Agent

Escrow Agent may
may act
act in
in reliance
reliance upon
upon any
any writing
writing or instrument
instrument or signature,
signature, whether
whether
original
originai or facsimfle, which Escrow
facsimile, which Escrow Agent,
Agent, inin good
good faith,
faith, believes
believes to
to be
be genuine, may
genuine, may
assume the
assume the validity
validity and
and accuracy
accuracy ofof any statement
statement or assertion
assertion contained
contained in such
such aa
writing or instrument
writing and may
instrument and may assume
assume that
that any
any person purporting to
person purporting to give any
any writing,
writing,
notice, advice
notice, advice oror Instruction
instruction inin connection
connectionwithwith the
the provisions
provisions hereof
hereof has
has been
been duly
duly
authorized
authorized toto do
do so.
so. Escrow
Escrow Agent
Agent shall
shail have no liability or obligation with respect to the
Deposits
Deposits except
except for Escrow
Escrow Agent's
Agent's willful
willful misconduct
misconduct or or gross
gross negligence.
negligence. Escrow
Agent's sole responsibility
Agent's shall be
responsibility shall be for the safekeeping,
safekeeping, investment and disbursement
disbursement ofof
Deposits In
the Deposits in accordance
accordancewith with the
the terms
termsofofthis
thisEscrow
EscrowAgreement.
Agreement. Escrow Agent Agent shail
shall
have no implied
have duties or obligations
implied duties obligations andand shail
shall not be charged with knowledge
knowledge or or notice
notice
of any
any fact
fact or
or circumstance
circumstance not not specifically
specifically set
set forth herein. In no event
forth herein. event shall
shall Escrow
Escrow
Agent be liable
Agent liable forforincidental,
incidental, indirect,
indirect, special,
special, consequential
consequential or or.punitive
punitive damages.
damages.
Escrow Agent shail
Escrow Agent shall not
not be
be obligated
obligated to to take
take any
any legal
legal action
action or or·commence
commence any any
connection with
proceeding in connection with the
the Deposits or to to appear in,
in, prosecute or defend any such
legal action
action or proceeding,
proceeding, except with with respect to its obligations
obligations toto interplead
interplead or
or arbitrate
arbitrate
as provided herein.

(c) Escrow Agent

Escrow Agent may
may consult
consultlegal
legalcounsel
counselselected
selectedbybyititininthe
the event
event ofof any
any dispute
dispute or
or
question as to the construction
construction of any of the provisions hereof of any other other ag(eement
agreement oror
of its
its duties
duties hereunder, and shall
hereunder, and shall incur no liability and shall be fully
fUlly protected
protected from
from any
any
liability whatsoever
liability whatsbeverinin acting
acting inin accordance with th.e
accordance with the opinion
opinion or or instruction
instruction of such
such
counsel. Developer shail
Developer shall promptly
promptly pay,
pay, upon
upon demand,
demand, the the reasonable
reasonable feesfees and
and
expenses of of any
any such
such counsel.
counsel. .

(d) No provision
provision of this Escrow Agreement shall
Escrow Agreement shall require
require Escrow
Escrow Agent
Agent to
to expend
expend or risk
risk its
its
own funds or otherwise
otherwise incur financial
financial liability in
in the performance
perfonmance of its
its duties
duties under
under this
this
Escrow Agreement ifif itit shall
Escrow Agreement shail have reasonable grounds for
reasonable grounds for believing
believing that repayment
repayment ofof
funds are adequate indemnity is not reasonably assured to it.
such f.unds

17. Either Developer

Termination. Either Developer or or Escrow
Escrow Agent
Agent maymay terminate
terminate this
this Escrow
Escrow Agreement
Agreement for
for any
any
reason whatsoever upon
reason Whatsoever upon thirty
thirty (30)
(30) days
days Written
written notice
notice totothe
the other.
other. Upon receipt of of such written
notice from Escrow
Escrow Agent
Agent by. Developer, Developer
by. Developer, Developer shall
shall immediately taketake all steps necessary
necessary toto
secure a successor
secure successor escrow
escrow agent
agent andand shall
shall immediately
immediately notify Division. If aa successor
notify the Division. successor
escrow agent is not engaged by Developer within within said
said thirty (30) day period,
period, Escrow Agent may may
petition a court of competent jurisdiction to
competent jurisdiction to name
name aa successor
successorescrow
escrowagent.
agent. When
When a successor
escrow agent has
escrow has been
been designated
designated or or appointed
appointed by by the
the Court.
Court. Escrow
Escrow Agent shall,
shall, upon
upon receipt
receipt
of all
ail fees
fees due
due itithereunder,
hereunder, transfer
transfer all
all Deposits
Deposits andand related
related documents
documents without
without covenant
covenant or
or
warranty, express
warranty, express or implied,
implied, to to the
the successor
successor escrow
escrow agent within
within ten
ten (10)
(10) days,
days, whereupon
Whereupon
Escrow Agent shall
shail be fully discharged of all
fUlly discharged all of its duties
duties and
and obligations
obligations hereunder.

18. Notices. AllAll notices,

notices, certificates,
certificates, requests,
requests, demands,
de,mands, materials,
materialS, and
and other
other communications
communications
shall be
hereunder shail be in
in writing
writing and
and shall
shall be
be deemed
deemed to to have
have been
been duly
duly given
given upon
upon actual
actual receipt or
refusal of delivery,
refusal delivery, by hand
hand or by professional courier (e.g.,
professional courier (e.g., Federal
Federal Express)
Express) to
to the appropriate
addresses set forth
addresses set forth above
above asas evidenced
evidencedby by aa signed
signedreceipt
receiptfor
forsame,
same,ororbyby mail,
mail, ifif mailed
mailed by
by
prepaid, certified mail with
with return
return receipt
.receiptrequested.
requested. The mailing addresses herein for the parties parties
and for the Division
Division shall be superseded
superseded only by written
written notice
notice to
to the
the Division
Division and each party
party of
of
any change ofof address.
address.

7
 19. Term of Escrow Agreement.
Aqreement. This
This Escrow
Escrow Agreement
Agreement shall
shall continue
continue in
in force
force and
and effect
effect for two
two (2)
(2)
years from
years from the date it is executed by both Developer
Developer and
and Escrow
Escrow Agent,
Agent, andand shall
shall be
be deemed
deemed to to
be renewed
be renewed automatically
automatically onon the
the anniversary of such
anniversary of such date
date each
each yearyear thereafter,
thereafter, unless
unless
terminated by written agreement between
between Deveioper
Developer and
and Escrow Agent.
Agent.

20. Non-Exclusive Agreement. The

Non-Exclusive Escrow Aereement. The parties
parties hereto
hereto acknowledge
acknowiedge and
and agree
agree that
that nothing
nothing
herein shall
herein shall prohibit
prohibit Escrow
Escrow Agent
Agent from
from serving in a similar
serving in similar capacity
capacity on
on behalf
behalf of
of other
other
developers, provided that
developers, provided that any
any other
other escrow
escrow accounts maintained by
accounts maintained by Escrow Agent shall
Escrow Agent shall be
be
maintained with books and records that separately identify each
each condominium.

21. Choice
Choice of State
State Law. This
ThisEscrow
EscrowAgreement
Agreement shall
shall be
be governed
governed and
and construed
construed in accordance
accordance
of the Slate
with the laws of slate of
of Florida.
Florida.

22. Compensation. Any

Compensation.' Any compensation
compensation that that Developer
Developeragrees
agreestoto pay
pay Escrow Agent for
Escrow Agent for the
the
performance
performance of services provided for
services provided for in
in this
this Escrow Agreement shall
Escrow Agreement shall not
not be
be paid
paid from
from principal
principal
escrowed.

23. Consent
Consent to Jurisdiction
Jurisdiction and
and Venue.
Venue. In the
In the event
event that
that any
any party
party hereto
hereto or
or aaPurchaser
Purchaser
commences
commences a lawsuit of other proceeding relating to
proceeding relating to or arising from this
this Escrow
Escrow Agreement,
Agreement, thethe
parties hereto agree
parties hereto agree that
that venue
venue shall
shall be
be inIn the
the Circuit
Circuit Court
Court in
in and
and for
forMiami-Dade
Miami-Dade County,
County,
Florida and
and the parties
parties hereto waive
waive any
any objection
objection toto such
such venue.
venue. The
The parties
parties hereto
hereto consent
consent toto
and agree
and agree to
to submit
submit to
to the jurisdiction
jurisdiction of that
that court
court and
and the courts ofof the
the State
State of
of Florida
Florida and
and
agree,toto accept
agree accept service
service ofof process
process toto vest
vest personal jurisdiction over
personal jurisdiction over them
them inin such
such courts;
courts;
provided,
provided, however
however that
that service
service on
on Escrow
Escrow Agent
Agent shall
shall be
be through the Florida Commissioner
through the Commissioner of
Insurance.

24. Assiqnment. Except

Assignment. as otherwise
Except as otherwise provided herein, no
provided herein, no party
party to this
this Escrow
Escrow Agreement
Agreement may
may
assign its rights
assign its rights or
or delegate
delegate its
its obligations
obligations under
under this
this Escrow
Escrow Agreement
Agreement without
without the express
express
written
written consent of the other parties, except asas otherwise
otherwise set
set forth
forth in
in this
this Escrow Agreement.
Agreement.

25. Sub-Escrow Aqents. There

SUb-Escrow Agents. There may may bebe Sub-Escrow
Sub-Escrow Agents added added to this Escrow Agreement.
Agreement. Such Such
Sub-Escrow Agents
Sub-Escrow Agents assume
assumeall all of
of the
the duties
duties of
of the
the Escrow
Escrow Agent
Agent asas contained
contained in in this
this Escrow
Agreement. Each
Agreement. Each Sub-Escrow
Sub-Escrow AgentAgent shall
shall execute
execute aa duplicate
duplicate original ofof this
this Escrow
Escrow Agreement
Agreement
. to, indicate their
to. indicate their acceptance
acceptance of of the
the terms, conditions and stipulations
terms, conditions contained herein.
stipulations contained herein.
Sub-Escrow
SUb-Escrow AgentsAgents shall
shall bebe limited toto licensed
licensed Florida
Florida title
title insurance
insurance agents
agents (i)
(i) who
who are
are affiliated
affiliated
Escrow Agent,
with Escrow Agent, or
or (H)
(ii) which are
are independent
independent agents authorized,
authorized. to
to issue commitments and
issue commitments and
policies ofof title insurance as as agents
agents of of Escrow
Escrow Agent.
Agent.

26. Amendment
Amendment or Waiver.
Waiver. ThisThis Escrow
Escrow Agreement
Agreement may may be changed,
changed, waived,
waived, discharged
discharged or.
or
terminated only by
terminated only by aa writing
writing signed
signed byby Developer
Developerand andEscrow
EscrowAgent.
Agent. No delay or omission
omission by
any party in
in exercising any right
exercising any right with
with respect
respect hereto
hereto shall
shalloperate
operate as
as aa waiver.
waiver. A
A waiver
waiver on
on any
any
one occasion
one occasion shall
shall not
not be
be construed
construed asas aa bar
bar to,
to, or
or waiver
waiver of,
of, any right
right or remedy
remedy on
on any future
occasion.

27. Severability. To the

Severability. the extent
extent any
any provision
prOVision of
of this
this Escrow
Escrow Agreement
Agreement is is prohibited
prohibited by
by or
or invalid
invalid
under
under applicable law, such
applicable law, such provision shall be
prOVision shall be ineffective to the
ineffective to the extent
extent of
of such
such prohibition
prohibition oror
invalidity, without invalidating
invalidity, without invalidating the
the remainder
remainder of such
such prOVision
provision or
or the
the remaining provisions of thisthis
Agreement.
Escrow Agreement.
£'

28. Entire Aereement.

Entire Agreement. ThirdThird Party Beneficiaries. This
Party Beneficiaries. This Escrow
Escrow Agreement constitutes
constitutes the
the entire
entire
agreement between
agreement betweenthetheparties
partiesreiating
relatingtotothe
the escrow
esprowofofthethe Deposits
Depositsand and sets
sets forth
forth in
in their
their
entirety the
entirety the obligations
obligations and
and duties
duties of
of Escrow
Escrow Agent
Agentwith
withrespect
respecttotothe
the Deposits.
Deposits. No
No third
third party,
party,
other
other than
than Purchasers
Purchasers andand the
the Division,
Division, shall
shall be aa beneficiary
beneficiary ofof this
this Escrow
Escrow Agreement,
Agreement, or or
derive any
derive any rights
rights or benefits,
benefits, or have
have any
any causes
causes of of action,
action, hereunder. Notwithstanding the
hereunder. Notwithstanding the'
foregoing, unless
foregoing, unless and
and until
until such
such time
time asas the
the Division
Division approves
approves thisthis Agreement
Agreement andand anyany

8
8
 (

Alternative Assurance, and such

Assurance, and such approval
approval is
is delivered
delivered to Escrow Agent,
Agent, all provisionscontained
provisions' contained
herein respecting Alternative Assurances will
will not
not be
be of
of any
any force
force or
or effect.
effect.

29. Bindine
Binding Effect. Al!
Ali of
of the
the terms
terms of
of this
this Escrow
Escrow Agreement,
Agreement, as
as amended
amended from
from time
time to
to time, shall be
binding upon, insure to the benefit of and be be enforceable by
by the
the respective
respective heirs,
heirs, successors
successors and
and
assigns of Developer, each Purchaser and Escrow Agent.

30. Counterparts. For the

Counternarts. For the purpose
purpose of of facilitating
facilitating the
the execution
execution ofof this
this EscrowAgreernent
Escrow Agreement and and for
other purposes,
other purposes, this
this Escrow
Escrow Agreement
Agreement may may bebe executed
executed simultaneously
simultaneouslyininany any number
number of of
counterparts, each
counterparts, each of
of which
which shall
shall be
be deemed
deemed to to be
be an
an original, and together
original, and together shall
shall constitute
constitute and
and
be one and the same instrument.

31. Headines. The

Headings. The Section
Section headings are not a part of this
this Escrow
Escrow Agreement and
and shall be used
shall not be used
its interpretation.
in ità interpretation.

IN WITNESS
IN WITNESS WHEREOF,
WHEREOF, Developer
Developerhas
hascaused
causedthese
thesepresents
presentstotobe
besigned
signedinin its
its name
name the
the day
day and
and
year first above written.

DEVELOPER:
DEVELOPER:

SKYRE, LLC,
a Florida limited liability comp
comp.:ny
ny

brized Representative

ESCROW AGENT:

ROYAL T.ITLE
TITLE & ESCROW COMPANY
S

9
 SCHEDULE "6"

THE WAVE, A CONDOMINIUM

FORM OF
FORM OF RECEIPT
REC8PT FOR
FOR CONDOMINIUM
CONDOMINIUM DOCUMENTS
DOCUMENTS UTILIZED
IN THE SALE OF CONDOMINIUM
CONDOMINIUM UNITS
UNITS

"
 (
C (
DF3PRform
DBPR form CO
CO 6000-6
Effective: 12123/02
12)23/02

RECEIPT FOR
RECEIPT FORCONDOMINIUM
CONDOMINIUM DOCUMENTS
The undersigned
undersigned acknowledges
acknowledgesthat
thatthe
thedocuments
documentschecked
checkedbelow
belowhave
havebeen
beenreceived
received or,
or, as
as
to. plans and
to, plans and specifications, made
made available
available for inspection.
inspection.
11 NameofCondominium:
Name of Condominium: THEWAVE
THE WAVE, ACONDOMINIUM
A CONDOMINIUM

Address of
Address of Condominium:
Condominium: 3315
3315 58TH AVENUE,
AVENUE ST.
ST. PETERSBURG,
PETERSBURG. FLORIDA 33712
FLORIDA 33712

Place
Place aa check
check in
in the
the column
column by each received or,
each document received or, for
for the plans and specifications,
made available for inspection. If anan item does not apply, place
place "N/A"
"N/A" in the column.
column.
DOCUMENT RECEIVED BY
BY.
ALTERNATIVE
MEDIA

Prospectus Text xX
Declaration
Declaration of Condominium x
X
Ii
Articles of Incorporation x
By-laws x
X

Estimated Operatinci
Estimated Budqet
Operating Budget xX
Form of Aqreement
Agreement for
forSale
Sale or
or Lease
Lease x
X
Rules or Requlation
Rules Regulation x
X
Covenants and Restrictions
Restrictions N/A

Ground Lease
Lease N/A

Manaqement and Maintenance Contracts for More

Management N/A
than OneYear
One Year

Renewable Manaqement Contracts

Renewable Management N/A

Lease of
Lease of Recreational
Recreational and
and Other
Other Facilities to be Used
Exclusively by
Exclusively by Unit Owners of of Subiect
Subject Condominiums
(Sees.718.503(1)(b)
(Sees.718.503(1 7 F.S.
Hbl 7. F.S. and
and s.718.504,
s.718.504. F.S.)
F.S.l N/A
Form of
of Unit
Unit Lease
Lease ifif aa Leasehold
Leasehold N/A
Declaration of Servitude N/A
,
Sales Brochures N/A

~,~~
'"
:':','
Phase Development Description
Description (See
(See s.718.503(1)(b)
s.718.503(1 Hb) N/A
11 F.S.
11 and s.718.504.
F.S. and s.718.504. F.S.)
F.S.l

1
 SCHEDULE "8"

THEWAVE,
THEWAVE, AACONDOMINIUM
CONDOMINIUM

CON'LIERSION INSPECTION REPORT,

CONVERSION INSPECTION REPORT TERMITE INSPECTION REPORT,
REPORT,
CERTIFICATE OF OCCUPANCY
 RENTERS/RENTAL RULES
RENTERS/RENTAL

1. Leasing or renting of
of a unit by an
an owner,
owner, either
either directly
directly or through an
an agent,
agent, isis permitted
permitted no
more than two (2) times per year.
year•.All
Allrental
rentalagreements
agreements must
must be
be sent, to the
sent to the office within
seven (7) days in advance
(7) days advance of arrival. .

2. arrival all
Upon 'arrival all occupants
occupants (owners,
(owners, guest and renters)
renters) must register wrrhin
within 24
24 hrs.

3. full use
Renters have full use of
ofthe
thefacilities..
facilities.. Owners
Owners willwill be
be held
held responsible for the actions of their
their guests
guests or
or
renters. Any
Anydamage.to
damage.tothe theProperty
Propertywillwill be
bethe
theresponsibility
responsibilityof
ofthe
the owner.
owner.

4. Renters and
Renters and guests
guests are
are subject
subject to all
all House
House Rules
Rules adopted
adopted by
by the
the Board
Board of
of Directors.
Directors. It is the
responsibility
responsibility of the
the owner to to see
see that
that aa copy
copy of
of the
the House
House Rules
Rulesisis given
giventoto each
each renter/guest.
renter/guest. Any
violation' of
violation of these
these rules
rules can
can be
be cause
cause to
to request
request immediate vacating
vaèating of
of the
the unit.
unit

5. Subletting by renters is not permitted.

permitted.

None of the
None of the above referenced rules
above referenced rules shall
shall apply
apply to commercial
commercial unit owners
owners who are
are using their
their
property for
for aa lawful
lawful purpose,
purpose, other
other than
than the
the rules
rules dealing
dealing with
With use
use of
ofthe
the common
common elements.

RR-8
 POOL RULES

1. NO LIFEGUARD
NO LIFEGUARD ON
ON DUTY.
DUTY,SWIM
SWiMAT
AT YOUR
YOURWON
WONRISK.
RISK

2. Pool hours are 9 a.m. to 10 p.m.

3. No radios,
radios. tape decks or
or DC's
DC's are
are allowed
allowed without
without earphones.
earphones.

4.
.4. No diapers in the pool,
pool. Children
Childrennot
nottoilet
toilettrained
trainedmust
mustwear
wearapproved
approvedwater
waterproof
proofØants
pants over diapers.
diapers.
Disposable diapers
Disposable dianers are
are not
not allowed.
allowed, Swim diapers only.

5. No floating
No floating devices
devices in
in pool.
pool. No rafts, balls, surf boards
rafts. beach balls. boards or
or similar
similar beach
beach equipment
equipment are
are permitted
permitted
or pool
in poor or pool area.
area.

6. No reserved seating areas.

7.
T. Children under 12 may not swim
swim or use
use the
the pool
pool areas
areas unless accompaniedand
unles accompanied andsupervised
supervised by
by an adult.
adult.

8.
6. Cover-ups andfootwear
Cover-ups and footwearare
arerequired
requiredininall
allcommon
commonareas.
areas. A towel does not constitute
constitute aa cover-up.
cover-up.

9. Suntan
Suntan lotion
lotion and
and sand
sand must be removed
removed before entering
entering pool. Use the
pool. Use the shower
shower provided
provided at comer
corner of
pool,
pool.
10. Cover
Cover lounge
lounge chairs
chairs with
with a towel
towel if using suntan lotion.
lotion.

11 •Lounges
.Lounges or chairs
chairs are
are not to
to be removed
removed before
before from
from the
the pool
pool deck. not drag chairs across
deck. Do not.drag across pool
pool
deck.

I. I 2.Running, horseplay,
12.Running. horseplay. climbing,
pool area.
near pool
climbing. ball
Parents are
area. Parents
ball or
or Frisbee
are responsible
Frisbee playing
responsible for
for the
playing or
or other
the behavior
other noisy
behavior of
noisy activities
of their
activitie.s are
their children.
are not
not permitted
permitted in or

I 3.Glassware isisnot
13.Glassware notpermitted
permittedininorornear
nearthe
thepool
poolare,
are.only
onlynon-breakable
non-breakableplastic
plasticcontainers
containers (State
(State Law).
Law).

14. Pets
Pets are not
not permitted
permitted in
in pool
pool area,
area. even ifif canied.
carried.

I 5.Shower
15. Shower before
before entering
entering the pool.

,.

RR-7
 e
C

ae
Condominium
4COncfominiurn

2004
2°°4
 (
(

PROSPECTUS (OFFERING
(OFFERING CIRCULAR)

FOR

THE WAVE, A CONDOMINIUM

St. Petersburg, Florida

St. Florida

THIS PROSPECTUS (OFFERING

(OFFERING CIRCULAR)
CIRCULAR) CONTAINS
CONTAINS IMPORTANT
IMPORTANT MA1TERS
MATTERS TO
TO BE CONSIDERED
IN ACQUIRING A
IN ACQUIRING A CONDOMINIUM UNIT.

THE
THE STATEMENTS CONTAINED HEREIN
STATEMENTS CONTAINED HEREINARE
ARE ONLY
ONLY SUMMARY
SUMMARY ININ NATURE.
NATURE. AA PROSPECTIVE
PROSPECTIVE
PURCHASER SHOULD REFER
PURCHASER SHOULD REFER TO ALL
ALL REFERENCES,
REFERENCES, ALL
ALL EXHIBITS
EXHIBITS HERETO,
HERETO, THE
THECONTRACT
CONTRACT
DOCUMENTS, AND SALES MATERIALS.
MATERIALS.

ORAL REPRESENTATIONS
ORAL CANNOTBE
REPRESENTATIONS CANNOT BE RELIED
RELIED UPON
UPON ASAS CORRECTLY
CORRECTLY STATING
STATING THE
THE
REPRESENTATIONS OF THE DEVELOPER. REFER
REFER TO
TO THIS
THIS PROSPECTUS
PROSPECTUS (OFFERING
(OFFERING CIRCULAR)
CIRCULAR)
AND ITS EXHIBITS FOR
FOR CORRECT
CORRECT REPRESENTATIONS.
REPRESENTATIONS.

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 SUMMARY

IMPORTANT MATTERS
MAnERS

1. THIS CONDOMINIUM
CONDOMINIUMIS
IS BEING
BEINGCREATED
CREATEDAND
ANDSOLD
SOLD ON
ON FEE
FEE SIMPLE ABSOLUTE
ABSOLUTE INTEREST.
INTEREST.

2. Each
Each residential
residential unit shall be
be separately
separately billed
billed for electricity,
electricity, real estate taxes, personal
personal property
property
taxes, cable television service
service and
and telephone
telephone charges.
charges. InInthe
thefuture,
future,ififwater
waterand
andsewer
sewercharges
chargesare
are
sub-metered, they
they will then
then also
also be
be billed
billed separately.
separately.

3. THE DEVELOPER HAS THE

THE RIGHT
RIGHT TO RETAIN
RETAIN CONTROL
CONTROL OF
OF THE ASSOCIATION AFTER
AFTER A
MAJORITY
MAJORITY OF
OF THE UNITS HAVE
HAVE BEEN SOLD.

Please
Please refer to Section
Section 25 of of the
the Declaration
Declaration of
of Condominium attached as Schedule
Condominium attached "1" of this
Schedule "1"
Prospectus provided for
for in
in Florida
Florida Statutes.
Statutes.""

4. THE SALE, LEASE OR

OR TRANSFER
TRANSFER OF
OF UN!TS
UNITS IS
IS RESTRICTED
RESTRICTED OR
OR CONTROLLED.
CONTROLLED.

Please refer to Section

Please refer Section 19
19 of
of the
the Declaration
Declaration of
of Condominium
Condominium attached as Schedule
attached as "1" of this
Scheduie "1" this
Prospectus.

5. RECREATIONAL FACILITIES
RECREATIONAL FACILITIESMAY
MAYBE
BE ADDED
ADDED WITHOUT THE CONSENT OFUNIT
OFUNIT OWNERS OF
THE ASSOCIATION.

Please
Please refer to Section 26.4 of
of the
the Declaration
Declaration of Condominium attached as
Condominium attached as Schedule "1" of this
Schedule "1" this
Prospectus.

5. THE UNITS MAY BE TRANSFERRED SUBJECT TO A LEASE.

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 ( (

TABLE OF CONTENTS

Page

1. of Condominium..
Description of Condominium : i
a. Introduction
Introduction. i
b. Use of Property i
c.
c; Name
Name i
d. Description of Condominium Property
Property..: i
e. Description of
Legal Description ofCondominium/Survey,
Condominium/Survey,
Plot Plan
Plan and Graphic Description of Improvements i
f. Latest Estimated Date
Date of
of Completion
Completion of
of
Construction. Finishing
Construction, Finishing and
and Eguipping.
Equipping :- i

2. Maximum Number
Number ofof Units
Units That
That Will
Will Use
Use Facilities
Facilities
in Common with the Condominium.
Condominium . i

3. Form of Ownership .
. ii

4. Description of Recreational and Other

Description
Commonly Used Facilities.
Facilities ii

5. Leasing
Leasing by Developer
Developer. .
iv

6. Arrangements for Management

Management. . iv

7. Right to
to Retain Control. '" iv

8. Restriction on Sale,
Restriction on Sale Lease
Lease or
or Transfer
Transfer . v
V

9. Conditions
Statement of Conversion Conditions v
V

10. Summary of Use Restrictions To

Summarv To Be
Be Imposed
Imposed Upon
Upon
Units Concerning the Use of the
Use of the Condominium
Condominium Property
Property vi

11. Manner in Which Utilities

Utilities and
and Other
Other Services
Services
Be Provided,
Are To Be Provided , viii

12. Explanation of
Explanation of Manner in
in Which
Which the Common
Common Expenses
Expenses and
and
Common Elements
Ownership of the Common Elements Has
Has Seen
Been Determined.
Determined ix

13. Budget and

Estimated Operating Budget and Budget
Budget Guarantee
Guarantee . xii

14. Schedule
Scheduie of Closing Exøenses
Expenses.. , .
. xiii

15. Developer
Identity of Developer. . xiv

16. Contracts and Leases xiv

17. Arbitration
Arbitration. -: -'
,i' ". xv
)(LJ

18. Environmental Reports , , . xv

19. Disclosures Regarding Condominium.

Condominium . xv

20. Copies of Documents

Documents Included
Included as
as Schedules
Schedules xxi

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 C)

SCHEDULES

Schedule 11
Schedule of Condominium
Declaration of

Exhibit A Legal Description, Survey,

Survey, Affidavit of Surveyor as to Certificate of
Substantial Completion,Plot
Substantial Completion, Plot Plan,
Plan, Floor
Floor Plans
Plans for
for Units
Units and
and
Graphic
Graphic Description
Description

Exhibit B
B Unit
Unit Owners
Owners Undivided Share in
Undivided Share in the
the Common
Common Elements
Elements and
and
Percentage of Sharing Common Expenses
Expenses and Owning Common
a Surplus

Exhibit C Articles of Incorporation

Exhibit D
D . By-Laws

Schedule 2 Unit Number, Number

Number of
of Bedrooms/
Bedrooms! Bathrooms,
Bathrooms, Unit
Unit Type
Type and
and Undivided
Undivided
Interest .

Schedule 3
3. Estimated Operating Budget for the Condominium Property
Property

Schedule 4
Schedule Purchase Agreement Utilized in the Sale of
Form of Purchase of Condominium
Condominium Units
Units

Schedule 55
Schedule Escrow Agreement Establishing Escrow Account
Account Between
Between Developer
Developer and
Escrow Agent .

IS Schedule 6 Form of Receipt

Form Receipt. for Condominium Documents Utilized
Condominium Documents
Condominium Units
Units
UtilizedInin the
the Sale
Sale of

Schedule 7 Initial Rules and Regulations

Regulations

Schedule 8 Conversion Inspection

Conversion Inspection Report,
Report, Termite
Termite Inspection
Inspection Report,
Report, Certificate
Certificate of
and Municipality
Occupancy and Municipality Letter
Letter

Schedule
Schedule.99 . Developer's Interest
Interest in
in Land
Land

Schedule 10 Frequently Asked Questions and Answers .

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"'._---_.,.._---_._------".,_.. ,--_.. ,.", .. ,,- -_ , "'-'---"-"._,"-_. ,-_.~ ..,_ -,-_ ,- " ...•. _..•.-"" ,-_ ..•.•,- _, .
 ( (

GENERAL INFORMATION
INFORMATION
CONCERNING THE CONDOMINIUM

1. Description of
of Condominium.
Condominium.

a. Introduction. The Developer

Introduction. The Developer pursuant
pursuant to this Offering is is SKYRE
SKYRE LLC, LLC, A FLORIDA
LIABILITY COMPANY.
LIMITED LIABILITY COMPANY. ItItisisspecifically
specificallyunderstood
understoodthat
thatthis
thisOffering
Offeringisislimited
limitedtotothe
theUnits
Unitscontained
contained
herein and
and does
does not
not encompass
encompass any other property owned by the the Developer.
Developer. AllAll references
references in in this Offering to
to
Developer shall
Developer shall be
be deemed
deemed to mean SKYRE,
SKYRE, LLC, A FLORIDA LIMITED LIABILITY LIABILITY COMPANY.

b. Use of Property.
Property.Pursuant
Pursuant toto this
this Offering,
Offering, Condominium
CondominiumUnits
Units ("Units")
(Units") shall be
offered for residential use.
use. .

c. Name. TheThename
nameofofthis
thisCondominium
CondominiumisisTHE
THEWAVE,
WAVE,AACONDOMINIUM,
CO·NDOMINIUM, located
located at
58th
th
3315 58 Avenue South,
South, St.
St. Petersburg,
Petersburg, Florida
Florida 33712.
33712.

d. of Condominium
Description of Condominium Property.
Property.

Condominium contains
The Condominium contains aasingle
single6-story
6-storybuilding,
building, consisting
consistingofofone
onehundred
hundredtwenty-eight
twenty-eight
(128)
(128) residential units, which are located at 3315 58thi
residential units, 58th Avenue
Avenue South,
South, St.St. Petersburg,
Petersburg, Florida
Florida 33712. Floor
33712. Floor
the Units are attached as part of Schedule "1
plans of the ", Exhibit "A"
"1", of this Prospectus.
"A' of Prospectus. Dimensions
Dimensionssetsetforth
forth in
in
said floor
said floor plans,
plans, however, are approximations
however, are only and
approximations only and subject
subject to to modification.
modification. The actual
actual plans
plans and
and
specifications of the Condominium are available for inspection
inspection atat the
the Developer's
Developer's office
office upon
uponrequest.
request. For aa
more complete description of of the
the number
number ofof Units
Units and
and aa number
numberof ofbedrooms
bedroomsand andbathrooms
bathroomsinineach
eachUnit,
Unit,
please refer to
please to Schedule "2"
'2" attached to this Prospectus.

e. Leqal Description
Legal Description of Condominium/Survey.
Condominium/Survey. PlotPlot Plan
Plan and
and Graphic Description
Description of
Improvements. The
Thelegal
legaldescription
descriptionofofthe
theProperty
Propertyto
tobe
besubmitted
submittedtotoaa condominium
condominiumform
formof
ofownership
ownership isis
attached as Exhibit
Exhibit "A" to the Declaration of Condominium.
Condominium. TheTheSurvey,
Survey,Plot
PlotPlan
Planand
andGraphic
GraphicDescription
Description of
of
Improvements are also attached as Exhibit
Exhibit "A" to the Declaration
Declaration of
of Condominium.
Condominium.

f. Latest Estimated Date of Completion of Construction,

Construction Finishinq
Finishingand
and Equippinq.
Equipping. The
The
construction, finishing and
and equipping
equipping the
the Units
Units and
and the
the Common
Common Elements
Elementsisissubstantially
substantiallycomplete
complete as
as of
ofthis
this
I; date.

2.
2 Maximum Number
Number of
of Units
Units That
That Will
Will Use
Use Facilities in Common with the Condominium.

i As previously
twenty-eight (128)
(128) Residential
Residential Units.
the maximum
previously indicated, the
Units. They
maximum number
They are
numberof
are comprised
comprised as
ofUnits
Units in
as follows:
follows:
in this
this Condominium
Condominium is
is one
one hundred
hundred

UNITTYPE
UNIT TYPE IBR/IBA
1 BR/1 BA 2BRJIBR
2 BR/1 BR 2BR/1-1/26A
2 BR /1-112 BA TOTAL
A 10 -- -- 10
B 57 -- -- 57
C
C
0
D
--- -
21
24
--
24
21
--- .5
.

E
E .-- 5 5
F --- -- -- 10
1.0 10
10
G .
-- 11 11
TOTAL 67 21 40 128

ci
i
 3. Form of Ownership.

THIS CONDOMINIUM
THIS CONDOMINIUM IS BEING
BEING CREATED AND SOLD
CREATED AND SOLD ON
ON FEE SIMPLE
SIMPLE ABSOLUTE
ABSOLUTE
INTEREST.

4. Description of
of Recreational
Recreational and
and Other
Other Commonly Used Facilities.

Unit owners
owners are required
required to
to pay
pay their
their share
share of
of the
the costs
costs and
andexpenses
expenses of
ofmaintenance,
maintenance,
management, upkeep and replacement
replacement costs.
costs.

Please refer to Section 55 and/or Section 7 of the Declaration of Condominium attached

attached as
as
Schedule "1" of this Prospectus.

RECREATIONAL
RECREATIONALFACILITIES
FACILITIESMAY
MAYBE
BEADDED
ADDEDWITHOUT
WITHOUTTHE
THECONSENT
CONSENTOF
OFTHE
THEUNIT
UNIT
OWNERS OF THE ASSOCIATION.

Please refer
Please referto.
to Section
Section 26.4
26.4 of
ofthe
the Declaration
DeclarationofofCondominium
Condominiumattached
attached asas schedule
schedule "1" of
1110
this Prospectus. InInthe
theevent
eventofofsuch
suchananexpansion,
expansion,unit
unitowners
ownerswill
willnot
notbe
berequired
required to
to contribute
contribute to the cost
cost of
of
such expansion or addition, butbut will
will be
be required
required to contribute to the main,tenance thereof as
maifltenance thereof as the expansion or
addition will
will be
be Common Elements.

The following isis aa description

description of
ofthe
the recreational
recreational and
andothe!
othercommonly
commonlyusedusedfacilities
facilitiesthat
thatWill
will
be used only by the Unit Owners
Owners of of this
this Condominium
Condominiumproperty
property(including
(including the
the Developer),
Developer), their
their tenants, guests
and
and invitees, (some of the
invitees, (some the facilities
facilities described
described below
below andand their
their use is
is subject
subject to
to the
the provisions
provisions ofof the
,the
Declaration regarding Limited Common Elements).
Declaration regarding Elements).

1. Description:
Description: Pool
Pool

Location: See
Location: See Condominium
Condominium Plat

Size: 65
Approximate Size: 65 X 32

Maximum Depth: 88 feet

Maximum Depth:

Minimum Depth:
Depth: 3 feet

Heated:
Heated: No
No

Capacity: 30
Maximum Capacity: 30

2. Description: Pool
Pool Deck
Deck(concrete)
(concrete)

Location:
Location: See
See Condominium
Condominium Plat
Plat

Approximate Size: 80
Approximate Size: 80 X
X 40

Maximum Capacity:
Capacity: 40

3. Description: Gym
Description: Gym

Location:
Location: First
First Floor
Floor

Size: 800
Approximate Size: 800 square feet

Maximum Capacity:
Capacity: 10
10 people
people

ii
ii
 ( (

4. Description: Lobby
Description: Lobby

Location:
Location: First
First Floor
Floor

Size: 800
Approximate Size: 800 square
square feet

Maximum Capacity:
Capacity: 10
10 people
people

5.
5. Description: Laundry
Description:

Location: First
Location: First Floor
Floor

Approximate Size:
Size: 500
500 square
square feet
feet

Maximum Capacity:
Capacity: 44 people
people

6. Description: Office
Description:

Location:
Location: First
First Floor
Floor

a Approximate Size:
Size: 300
300 square
square feet

Capacity: 44 people
Maximum Capacity: people

7. Description:
Description: Storage
Storage Closets
Closets

Location: Various Throughout

Throughout Building
Building

Approximate Size:
Size: 500
500 square
square feet

8. Description: Parking

(1 )
(1) Location: See Condominium Plat

(2) Breakdown of Parking Spaces: 137 open

28 covered
28 covered
2 accessible
accessible

9. Description: Elevators
Description: Elevators (2)

(1 ) Location:
LI (2) Maximum Capacity: 66 Each
Maximum Capacity: Each

I RECREATIONAL FACILITIES MAY BE

OWNERS OF
UNIT OWNERS OF THE ASSOCIATION.
BE EXPANDED
EXPANDED OR ADDED WITHOUT CONSENT OF
OF THE
THE

The Developer is not

not obligated to provide
provide additional facilities
facilities not
not described
described above.
above.
"
The Developer is not obligated to provide additional facilities.
facilities.

lii
iii
 5. Leasinq by Developer.
Leasing by Developer.

THE UNITS MAY BE TRANSFERRED SUBJECT TO A LEASE.

TRANSFERRED SUBJECT

The Developer
Developer may, may, upon
upon the
the proper
proper filing
filing ofof an
an Amendment
Amendment to to the
the Declaration
Declaration of
Condominium, engage
engage in in aa program
programof ofleasing
leasing any
any Units
Units which areare unsold
unsold as
as of
of the
the date ofof recordation of the
Declaration
Declaration of Condominium establishing the Condominium. Condominium. In In this
this regard,
regard, the
the Units
Units subject
SUbject to the leasing
leasing
arrangement may may include
include anyany Units
Units that
thatthe
theDeveloper
Developerhas hasnotnotsold.
sold.The
Theterms
termsof ofsuch
suchleasing
leasingmay
my include
include
such rental terms and conditions
conditions as as the
the Developer
Developermay may designate,
designate, butbutshall
shall not
notbebe permitted
permittedmore
morethan
than two
two
(2) times per year. Developer
pElr year. Developershall shall not
not engage
engage inin aa program of of leasing, until it: a) files an amendment
amendment with
the Division, which includes
includes allall disclosures
disclosuresrequired
required by
by Section
Section 718.504(10),
718.504(10),Florida
FloridaStatutes,
Statutes,and
andRule
Rule6161 B-
18.008(3); and b) provides aa copy copy of of the
the amendment
amendment to to the
the Association
Association and and every
every unit
unit owner.
owner.

Notwithstanding
Notwithstanding anything
anythingcontained
contained herein
herein to
to the
the contrary, itit is the Developer's intention to
to sell
sell
all Units within
all within the Condominium
Condominium as as expeditiously
expeditiously as as possible
possible andand the
the Developer's
Developer's leasing
leasing program,
program, with
with
to any
respect to ny unsold
unsoldUnits,
Units,shall
shallcontinue
continueonly
onlyuntil
untilsuch
such time
time asas such
such Unit(s)
Unit(s) havehave been
been sold or closed.
closed. The
amendment enabling Developer to to engage
engage inin aa program
program of of leasing
leasing shall
shall contain,
contain, among
among other
other things,
things, the
the
number andand identification
identification of the units and
and the
the provisions
provisions andand terms
terms of
of the
the proposed
proposed leases.
leases

The Developer
Developer reserves
reserves the
the right
right to
to use any Units not closed as temporary accommodations
for, including but not limited to,
for, to, prospective
prospective purchasers.
purchasers.

Notwithstanding anything contained

Notwithstanding anything contained herein
herein to
to the
the contrary, Units SUbject to a lease
Units which were subject lease
prior to the creation of the
the Condominium
Condominium are are subject
subject to the RightRight of
of Refusal
Refusal byby the
the tenant
tenant in
in possession,
possession,
pursuant to Chapter 718, Part VI,VI, Florida Statutes ("Condominium
("Condominium Act"), Act'), and
and Section 30 of the Purchase
Purchase and and
Sale Agreement, which is attached as as Schedule
Schedule 4 of of this Prospectus. Specifically,
Specifically, the
the tenant shall have the
right to extend his or her for a period up
her lease for up to two hundred seventy (270) days from the date of receipt of of aa
Notice of Intended Conversion,
Conversion, and
and the
the tenant
tenanthas
has the
the right
right to
to purchase
purchase thethe Unit
Unitfor
foraa period
period of
of forty-five
forty-five (45)
(45)
days after receipt of
of the items
items required
reqUired toto be
be delivered
delivered pursuant
pursuant to to Section
Section 718.612
718.612 ofofthe
the Condominium
Condominium Act. Act.

6. Arranqements for
Arrangements forManaqement.
Management.

The Wave
Wave Condominium
Condominium Association
Association of
of St.
St. Petersburg,
Petersburg, Inc.
Inc. may
may enter
enter into
into aa Management
Management
Agreement to provide for management
management and
and operation
operation of the Condominium. To Todate,
date, aa management
management firm
firm has
not been employed, and the Association
Association will
will manage
manage the
the Condominium.
Condominium.

7. Riqht to Retain Control.

Right

THE DEVELOPER
DEVELOPER HAS
HAS THE RIGHT
RIGHT TO RETAIN
RETAIN CONTROL
CONTROL OF
OF THE
THE ASSOCIATION
ASSOCIATION
AFTER A MAJORITY OF THE UNITS HAVE BEEN SOLD.

Please refer
refer to Section 25 of the Declaration of Condominium
Condominium attached
attached as
as Schedule
Schedule 11 of this
this
Prospectus and provided for
for in
in Florida
Florida Statutes.
Statutes.

When Unit
Unit Owners,
Owners, other
otherthan
than the
the Developer,
Developer, own
own fifteen
fifteen (15%)
(15%) percent
percentor or more
more of the Units
Units
in this Condominium
in Condominium that will be be operated
operated ultimately
ultimately by
by the
the Association,
Association, the the Unit
Unit Owners,
Owners, other
other than
than the
the
Developer, shall be entitled to elect not less than one-third (1/3)
(1/3) of thememb~rs
of the membrs of ofthe
the Board
Board of
of Administration
of the Association. Unit
UnitOwners,
Owners,other
otherthan
thanthe
the Developer,
Developer, are
are entitled
entitled toto elect
elect not
not less
less than a majority of the
the
members ofof the Board
Board ofof Administration
Administration of
ofthe
the Association:
Association:

(1) Three (3)

Three (3) years
years after
afterfifty
fifty (50%)
(50%) percent
percent of
of the Units that will be
thatwill be operated ultimately by
by
the Association have
have been
been conveyed
conveyed toto purchasers;
purchasers;

iv
iv
 (

(2) Three (3)

(3) months
months after
after ninety
ninety (90%)
(90%) percent
percent of
of the
the Units
Units that
thatwifi
will be
beoperated
operated
ultimately by the Association have been
been conveyed
conveyed to
to purchasers;
purchasers;

(3) When all

all the
the Units
Units that
that will
will be
be operated
operated ultimately
ultimately by
by the
the Association
Association have
have been
been
completed, some ofof these
these have
have been
been conveyed
conveyed to purchasers; and none of of the others are
are being
being offered for
sale by the Developer in the ordinary
ordinary course
course ofof business;
business;

~~1
lID,"',','."

~) (4) When some

some ofof the
the units
units have been conveyed to purchasers
purchasers and
and none
none of
of the others
are being constructed or offered for
for sale
sale by
by the
the developer
developer in
in the ordinary
ordinary course
course of
of business;
business; or
or

(5) Seven (7) years after the recordation of the Declaration;

Declaration;

Whichever Thedeveloper
whichever occurs first. The developerisIsentitled
entitledtoto elect
electat atleast
leastone
one member
memberofofthe
the board of administration
administration ofof
an association as long as the developer
developer holds
holds for
for sale
sale in
in the
the ordinary
ordinary course
courseof
ofbusiness
businessatatleast
least55percent,
percent,inin
condominiums with
condominiums with fewer
fewer than 500 units,
units, and 2 percent,
percent, inin condominiums with more than 500 units, units, of the
units in
in aa condominium
condominium operated by thethe association.
association. Following the time the developer relinquishes control of
the association, the developer
developer may
may exercise
exercise the
the right
right to vote any developer-owned
developer-owned units
units in
in the
the same manner
manner
as any other
other unit owner
owner except
except for purposes ofof reacquiring control of of the association
association or
or selecting
selecting thethe majority
majority
members of the board of administration.

8. Restriction
Restriction on
on Sale,
Sale, Lease
Lease or
or Transfer.

THE SALE, LEASE OR

OR TRANSFER OF UNITS IS
IS RESTRICTED
RESTRICTED OR
OR CONTROLLED.
CONTROLLED.

Please
Please refer
refer to
to Section
Section19
19 of
ofthe
the Declaration
Declaration of
of Condominium
Condominium attached
attachedas
asSchedule
Schedule "1"
"1" of
of this
Prospectus.

9. of Conversion
Statement of Conversion Conditions.

This Condominium is being created by thethe conversion

conversion of existing
existing improvements.
improvements. Each
Each Unit
shall be
shall be delivered
delivered in
in the
the manner
manner represented
represented in
in "as
"as is"
is" condition
condition without
without any
any express
express warranties
warranties or
representations by the
representations the Developer,
Developer, the Association or any broker or agent.

No Conversion
No Conversion Reserve Account has has been
been established
established pursuant
pursuant totoSection
Section71 8.618(1),
718,618(1),
Florida Statutes. Therefore, pursuant
Statutes. Therefore, pursuanttoto Sections
Sections 718.618(6)
718.618(6) and
and 718.203,
718.203, Florida
Florida Statutes,
Statutes, unless
unless expired,
expired,
the Developer is deemed to have granted to the purchaser of of each
each Unit
Unit an
an implied
implied warranty
warranty of of fitness
fitness and
and
merchantability
merchantability for
for the purposes
purposes oror uses
uses intended,
intended, as
as to the roof
roof and
and structural
structural components
componentsof ofthe
the building
building or
or
the improvements;
improvements; as as to
to fireproofing
fireproofing and
and fire protection
protection systems;
systems; and
and as to to mechanical,
mechanical, electrical
electrical and
plumbing elements serving the improvements or the building,
building, except
except mechanical elements serving
serving onlyonly one
one
Unit.

To the extent permitted

permitted by
by law,
law, the Developer
Developer specifically
specifically disclaims
disclaimsany
any and
and allall other
other implied
warranties of merchantability and fitness as to the Condominium Property,
Property, any Unit, or anyany appurtenance
appurtenance
thereto,
thereto, including
inclUding any appliances, furniture, fixtures oi
appliances, furniture, or personal
personal property,
property, subject
SUbject only
only to
to the
the provisions
provisions of
of
Sections 718,618(6)
718.618(6) and
and 718,203,
718.203, ,Florida
Florida Statutes, as outlined above.

The statements contained

contained in
in the
the Conversion
Conversion Inspection
Inspection Report
Report are
are the
the opinions
opinions of
of Gary
Gary H.
H.
Elzweig,
Elzweig, P,E.,
P.E., and
and President of
of CAPRI Engineering,
Engineering, Inc.
Inc. and
and they
theyrepresent
representhis
hisbest
bestestimates
estimatesupon
upon available
available
Information.
information. -
.. "

The Developer
Developer specifically disclaims any
any and
and all
all other
other implied
impliedwarranties
warrantS of ofmerchantability
merchantability
and fitness as to the Condominium
Condominium Property,
Property, any
anyUnit,
Unit, or
orany
any appurtenance
appurtenancethereto,
thereto,including
inclUdingany
any appliances,
appliances,
or personal
furniture, fixtures or personal property.
property,

v
V
 In connection with
Inccnnection with this conversion,
conversion, the Developer
Developer hereby discloses the
hereby discloses the condition of the
condition of the
Condominium as required pursuant
pursuant to
to the
the provisions
provisions of Florida Statues, Chapter 718.616.

A copy of the termite inspection

inspection report
report is
is attached hereto
hereto and
and made
made aa part
part of
of Schedule
Schedule "8" of
of
this Prospectus.

Developer expressly reserves the right to alter or modify

modify the size
size and/or
and/or location
location of
of closets
within
within a Unit;
Unit; remove
remove exterior
exterior kitchen
kitchen doorways;
doorways; or add
add aa patio/balcony
patio/balcony to
to aa Unit,
Unit, as
asmore
moreparticularly
particularly
described in Section 10 of the Declaration.

10.·
10. Use Restrictions To Be Imposed Upon Units Concerning the Use of
Summary of Use of the
the
Condominium Property.

In order to
In to provide
provide for
for congenial
congenial occupancy
occupancy of the
the Condominium
Condominium PropertyProperty and and for
for the
the
protection of
of the values
values of
of the
the Units,
Units, the
the use
use of
of the
the Condominium
Condominium Property
Property is
is restricted
restricted to
to and
and in
in accordance
accordance
with the following provisions
provisions as
as set
set forth in the
forth in the Rules
Ruies and Regulations
RegUlations as well as in Sections 18 and 26 26 of
of the
the
Declaration of Condominium for THE THE WAVE,
WAVE, A A CONDOMINIUM:
CONDOMINIUM:

a. Promptly pay the Assessments levied

levied by
by the Association.

b. Maintain in a clean and sanitary manner and repair his Unit and all interior surfaces
within and maintain
maintain and
and repair
repair the
the fixtures
fixturestherein
thereinand
and pay
pay for
for any
any utilities
utilities which
which are
are separately
separately metered
metered to
to his
Unit.

c. Not use or permit the use ofof his

his Unit
Unit except
except for
for purposes
purposes consistent
consistent with the
the laws
laws of
of
having jurisdiction
governing authorities having jurisdiction over
overthe
the property.
property.

d. permit or
Not permit or suffer
sufferanything
anything to
to be
be done
done oror kept
kept inin his
his Unit
Unit which
which would increase the
insurance
insurance rates
rates on
on his
his Unit
Unit of
of the
the Common
Common Elements,
Elements,or orwhich
which will
will obstruct
obstructor orinterfere
interferewith
withthe
the rights
rights of
of other
members or annoy them with with unreasonable
unreasonable noises
noises or
or otherwise;
otherwise; nornor shall
shall aa member
member commit
commit or or permit
permit any
any
nuisance, immoral
immorai oror illegal act in his Unit
Unit or on the Common
Common Elements.
e. Conform to
Conform to and
and abide
abide by
by the By-Laws and uniform Rules and Regulations
RegUlations in regard to
the use of the
the the Unit
Unit and
and Common
Common Elements
Elements which
which may
may be be adopted
adopted in in writing
writing from
from time
time to
to time
time by
by the
the
Association, and to see
see that
that all
all persons
persons using
using the
the Owner's
Owner's property,
property, by,
by, through
through or orunder
underhim
himdo dolikewise.
likewise.

f. Make no alteration,
Make alteration, decoration,
decoration, repair,
repair, replacement or or change
change ofof the
the Common
Common
Elements or to any
Elements or any outside
outside or
or exterior
exterior portion
portion of
of the
the building
building without
without the
the prior
priorwritten
written consent
consent of
of the
the
Association.

g.
g. Allow the Board of of Administration
Administration or or the
the agents
agents and
and employees
employees of ofthe
the Association
Association to
for the purpose of
enter any Unit for of maintenance,
maintenance, repair
repair or
or replacement
replacementof ofany
anyCommon
CommonElements.
Elements. or building
system or for making emergency
emergency repairs
repairs which
which are
are necessary
necessary to to prevent damage to the
the Common
Common Elements
Elementsor or
to another Unit or Units. IfIIno
no key
key has
has been
been provided
provided to
to the
the Association,
Association, then
then the
the expense
expense ofofentry
entry into
into a Unit
for emergency purposes shall be borne by by the Owner of the Unit.

h. Show no
Show no sign, advertisement
advertisementor
ornotice
noticeofofany
anytype
typeon
onthe
theCommon
CommonElements
ElementsOrorhis
hisUnit,
Unit, and
and
erect no exterior
exterior antennas
antennas and aerials,
aeri?ls, except
except asas provided
provided in
in uniform
uniform regulations
regulations promulgated
promulgated by by the
the
Association. Notwithstanding anythingcontained
Notwithstanding anything containedherein
hereintotothe
the contrary,
contrary,aa Unit
Unit Owner
Owner isis permitted to
permitted to
respectfully display a United
respectfully display United States Flag.
Flag. In
Inaddition,
addition, pursuant
pursuant to
to 718.113(4),
718.113(4), Florida
Florida Statutes,
Statutes, which
which was
was
amended by Chapter 2003-23, Laws Laws ofof Florida,
Florida, effective
effective July
July 1,
1, 2003, a unit
unit owner
owner on
on Armed
Armed Forces
Forces Day,
Day,
Memorial Day,
Day, Flag Day, Independence Day, and Veterans Day is permitted to display in a respectfulway,
respectful way,
portable, removable official flags,
portable, fiags, not
not larger
larger than
than 4-1/2 feet bye
by 6 feet,
feet, that
thatrepresent
representthe
the United
United States
States Army,
Army,
Navy, Air Force,
Navy, Force, Marine Corps,
Corps, or Coast Guard.

vi.
vi
 i
\ (

i. Abide by any regulations regarding children as may be established by the Association,

Association,.
except that no regulations shall prohibit children from residing in or occupying a Unit.

j. Make no repairs
repairs to any plumbing,
plumbing, air
air conditioning
conditioning systems
systems or
or electrical
electrical wiring within a
Unit, except by plumbers,
Unit, repairmen or electricians authorized
plumbers, repairmen authorized toto do
do such
such work by the management of the
Association. Plumbing,
Association. Plumbing,air
airconditioning
conditioningand
andelectrical
electricalrepairs
repairswithin
withinaaUnit
Unitshall
shallbe
bepaid
paidfor
forand
and bebe the financial
obligation of the
obligation of the Owner
Owner of
of the
the Unit.
Unit. The
The Association
Association shall
shall pay
pay for
for and
and bebe responsible
responsible for plumbing,
plumbing, airair
conditioning
conditioning repairs
repairs and
and electrical
electricalwiring
wiringwithin
withinthe
theCommon
CommonElements.
Elements. The
TheAssociation
Associationshall
shallhave
havethe
theright
right to
to
exclude any unauthorized repairmen from the Condominium.

k. Return
Return the the "Condominium
"Condominium Parcel"Parcel"forfor the
the purpose
purpose of of ad
ad valorem
valorem taxes
taxes toto the
the
respective taxing authorities
authorities having jurisdiction
jurisdiction over
over them forfor separate
separate Assessment
Assessment against his Condominium
Condominium
Parcel. For
Forthe
the purposes
purposes ofofad
ad valorem
valorem taxation,
taxation, the
the interest
interestof
ofthe
the Owner
Ownerof ofaa "Condominium
"Condominium Parcel"
Parcel" inin his
his
"Condominium Unit" andand inin the "Common
"Common Elements"
Elements" shall
shall be
be considered
considered as as aa Unit.
Unit. The value of said
said Unit
Unit
shall be
shall be equal
equal to the proportion
proportion or percentage
percentage of the value of the entire Condominium, including land and
improvements, as
improvements, as has
has been
been assigned
assigned to to said
said Unit
Unit in Exhibit
Exhibit "B" ofof the
the Declaration
Declaration attached
attached hereto
hereto as
Schedule "1 ." The total
"1." total of
of all
all said
said proportions
proportions oror percentages
percentages equals the value
equals the value of all of
of the
the land
land and
and
improvements thereon.

L Not replace
Not replace and/or remove
remove screens,
screens, jalousies or
or other
other enclosures
enclosures on
on balconies,
balconies,
patios
patios or terraces
terraces or on
on other
other parts
parts of
ofthe
the building,
bUilding, even
even though
though such
such areas
areas may
may be
be Limited
Limited Common
Common
Elements, except with
Elements, with prior written
written approval
approval of the Board of Administration.

m. balconies, patios
No balconies, patios or
orterraces
terracesshall
shallbe
beextended,
extended,enclosed
enclosedor
ordecorated
decoratedininany
any way
way
whatsoever by
by a Unit
Unit Owner
Owner without the prior
prior written consent
consent of
of the
the Board
Board of
of Administration.
Administration.

n. Except as otherwise provided herein,

herein, not divide or subdivide a Unit for purpose of
sale or ease,
lease, except
exceptthat
that aa Unit
Unit may
may be combined with a contiguous Unit and occupied as one-dwelling Unit.
Unit.

o.
0. Not
Not hang any laundry, garments
garments or
or other
otherobjects
objects which
which are
are visible from outside of the
the
Unit, except for draperies, blinds, shades or other suitable
suitable window
window coverings.
coverings. Decorative
Decorative window coverings
shall not include any type
type of reflective
reflective film
film on
on any glass
glass windows
windows oror doors.
doors. The
The exterior
exterior appearance
appearance of
of all
window coverings shall be white in color. . .

p. Not allow any rubbish, refuse, garbage or trash to accumulate in places other than
than the
the
receptacles provided therefor, soso that
that each Unit, the Common
Common Elements
Elements and Limited Common Elements shall shall
at all
all times remain in a clean and sanitary condition.

q. Not make any use of a Unit that violates any laws, ordinances
ordinances and
and regulations
regulations of
of any
governmental
governmental, body
body having
having jurisdiction
jurisdiction thereof. .

r. No livestock, reptiles,
reptiles, insects,
insects,poultry
poultryororother
otheranimals
animalsof ofany
any kind
kind shall
shall be
be kept
kept in any
except that
. Unit except that usual
usual and
and ordinary
ordinary domestic
domesticdogs, dogs, cats,
cats fish,
fish, and birds inside bird cages may be
bird cages be kept as as
household
household pets pets within
within any
any Residential
Residential Unit Unit provided
provided that
that they
they are
are notnot kept,
kept, bred or or raised
raised therein
therein forfor
commercial, purposes or
commercial purposes or in unreasonable quantities
quantities or sizes. As used in
or sizes in the
the Declaration,
Declaration, "unreasonable
quantities" shall ordinarily
ordinarily mean
mean one
one (1)
(1) pet
pet atat thirty-five
thirty-five (35)
(35) pounds
poundsand andtwotwo(2)
(2) pets
petsnot
notto
to exceed
exceedfiftyfifty(50)
(50)
pounds (except with regard to quantities of fish) per Unit; provided, however, that the Board may determine
that a reasonable number in any instance may be be more.
more. No No potbellied
potbellied pigs,
pigs, snakes,
snakes, pitbull
pitbull dogs, Doberman
Doberman
dogs, or any other animals determined in in the Board's
Board's sole
sole discretion
discretion to to be
be dangerous
dangerousor oraa nuisance
nuisance may maybe be
brought onto or kept on the the Project
Project at any time. The
anytime. TheBoard
Boardshall
shallhave
havethetheright
righttotorequire
require that
that any petwhich,
pet Which, in in
the Board's
Board's opinion, endangers the
opinion, endangers the health
health or or security
security ofof any
any Owner
Owner or or occupant
occupant of of aa Unit or creates
creates a
nuisance
nuisance or or unreasonable
un reasonable disturbance,
disturbance,be bepermanently
permanentlyremoved
removedfrom fromthetheProject upon seven
Projectupon seven(7)(7)days
dayswritten
written
notice. IfIfthe
the Owner
Owneroror occupant
occupantfails
fails to
to do
do so,
so, the
the Board
Board maymay remove
remove the the pet.
pet. Any
Anypetpetwhich,
which, inin the
the Board's
Board's
sole
sole discretion, presents an
discretion, presents an immediate danger to
immediate danger to the health,
health, safety,
safety, or or property
property of of any
any Owner
Owner or or other
other
Occupant
Occupant of of a Unit
Unit may be removed by by the
the Board without
without prior
priornotice
notice to
to the pet's owner.
owner. Animals
Animals belonging
belonging to
Owners, occupants or their licensees, tenants or lnvitees
Owners, Invitees within the Property must be kept inside the living

vii
vii
element
element ofof a Residential
Residential Unit
Unit(and
(and shaD
shall not be left or located unattended
unattended on the Exclusive
Exclusive Use
Use Balcony
Balcony Area
Patio Area
or Exclusive Use Patio Area ofofthat
that Unit),
Unit), and
and must
mustbebeheld
held by
by aa person
person capable
capable of of controlling
controlling the animal.when
animal when
outside of a Unit.
Unit. Furthermore,
Furthermore,any anyOwner
Ownershall
shallbe
beliable
liabletoto each
each and
and all
all remaining
remainingOccupants,
Occupants,their
theirfamilies,
families,
guests and Invitees, for any any unreasonable
unreasonable noisenoise or damage to person person or or property
property caused
caused by by any
any animals
animals
brought or kept upon the Project by an Occupant or by members of his his family,
family, his
his tenants
tenants oror his
his guests.
guests. It
shall be the
the duty and
and responsibility of each such Owner to to clean
clean upup after
after such
such animals
animals which
which have
have deposited
deposited
dthpings on
droppings onany
anypubliô
publicstreet
streetabutting
abuttingororvisible
visiblefrom
fromthetheProperty
Propertyand andproperly
properlydispose
disposeof ofany
anyanimal
animal waste.
waste.
Any Occupant who keeps or or maintains
maintains any any pet
pet upon
upon thethe Project
project shall
shall be
be deemed
deemed to tohave
haveindemnified
indemnified and and
to hold
agreed to hold the
the Association,
Association, its directors;
directors, officers, and
and agents,
agents, and
and the
the Declarant free free and
and harmless
harmless from
from
any loss, claim, or liability
liability of
of any kind oror character
character whatever
whatever arising
arising by
by reason
reason of ofkeeping
keeping orormaintaining
maintaining such
such
pet within the Project.
s. The Board of of Directors
Directors shall
shall have
have the
the right
right to
to promulgate
promulgate rules
rules and
and regulations
regulations
regarding soundproofing of
regarding of floors in
in connection
connection with
with the
the installation
installation ofof floor
floor coverings.
coverings.

t. Other than the

Other the Developer,
Developer, Owners
Ownersmay
maynot
not do
do any
any construction or
or renovation without
written
written notification
notification toto the
the Association
Association at least seventy-two (72) hours
seventy-two (72) hours in in advance.
advance. "The
The Association
Association may
may
reasonably restrict
reasonably restrict the
the time
time and
and manner of
of construction,
construction, except
except as
as itit relates
relates to
to the
the Developer.
Developer.

u. Other
Other than the Developer, Owners must provide copies of of proper
proper permits, licenses
and insurance certificates and plans
plans and
and specifications
specifications to
to the
the Association
Association before
before commencing
commencing with
with work.
work.
Owners must use only properly licensed
licensed workers.
workers.

v. Other than the Developer,

"Other Developer, all construction or
or renovation
renovation in
in Units
Units may
may be
be done
done on
through Friday during the hours between 10:00
Monday through 10:00 a.m. to 5:00
5:00 p.m.
p.m.

w. Proper
Proper attire
attire is required, including shirts
shirts and
and shoes,
shoes, when
when walking
walking through
through Common
Elements.
x. No pets are permitted
permitted in
in the
the hall
hall areas.
areas.

y. Owners and .residents

.residents must
must deposit
deposit their trash in the designated trash receptacles.

z. must provide
Owners must provide the
the Association
Association with
with at
atleast
leastone
oneset
setof
ofkeys
keysto
to their
their Unit(s),
Unit(s), in
in
case of
of emergency.
emergency.

The Developer
Developer shall be
be exempt
exempt from
from all
all provisions
provisions herein
herein requiring
requiring the consent
consent of the
Association.
Association. Notwithstanding
Notwithstanding anything
anything contained
contained herein
herein to
to the
the contrary,
contrary, the
the Developer
Developer shall
shall not
not be exempt
from the
the following: (1)
(1)requirements
requirementsthat
thatleases
leasesororlessees
lesseesbe beapproved
approvedbybythetheAssociation;
Association;(2)
(2)restrictions
restrictions on
on
the presence of pets; and (3) restrictions on occupancy of Units based on age.

11. Manner in Which Utilities

Utilities and
and Other
Other Services
Services Are
Are To Be
Be Provided.

The manner
mannerin
in which
which the
the needs
needsof
ofthe
theutilities
utilities and
and other
other services
services will be met,
hiet, inclUding,
including, but
but not
not
limited to, sewage and waste disposal,
disposal, water
water supply
supply and
and storm
storm drainage
drainageisis as
as follows:
follows:

a. Water
Water supply,
supply, waste and sewage disposal shall be supplied to the Condominium
Condominium by
of St.
the City of St. Petersburg.
Petersburg. Storm
Storm drainage
drainage isis accomplished
accomplished by
by percolation into the
the ground.
ground. The Common
Elements part of water and sewer bill, as well
well as waste
waste and
and sewage
sewage disposal,
disposal, shall
shall be
be treated
treated as
as aa common
common
expense and
expense and paid
paid by
by the
the unit owners in their maintenance
owners in fees. The
maintenance fees. The water
water"used
used byby the
the Association
Association for
common elements and landscaping will remain a common expense.

b. Each Unit is separately metered for

for electricity e~ch unitwill
lectricity and each unit willbe
beindividually
individuallybilled
billed
services. Electrical
for services. Electrical services
services shall
shall be
be supplied
supplied to
to the
the Condominium
Condominium by by Progress
Progress Energy,
Energy. InInthis
thisregard,
regard, all
all
of the electricity to
to the
the Common Elements
Elements of
of the
the Condominium
Condominium will
will be
be supplied
supplied by
by aa single
single meter
meter expense
expense
shall be
shall be treated
treated as
as aa common
common expense,
expense, paid
paid by the
the unit owners
owners inin their
their maintenance
maintenance fees.
fees.

viii
viii
 (

c. Trash removal services shall

Trash shall be
be supplied
supplied to the Condominium by a private wastewaste
company approved by by the Association.
Association. This
Thisexpenses
expensesshall
shallbe
betreated
treatedas
asaacommon
commonexpense
expenseandandpaid
paid by
by the
unit owners in
in their
their maintenance
maintenance fees.
fees. This
This service
service is
is currently being provided by the city of Sl.
St. Petersburg.
Petersburg.

d. Cable service will be provided by a service

service to
to be
be determined
determined by the Association
Association and
billed to each unit
will be billed unit owner
owner accordingly.
accordingly.

12. Explanation of
Explanation of Manner
Manner in Which
Which the
the Common
Common Expenses
Expenses and Ownership
Ownership of the
the
Common Elements Has Been
Been Determined.

Both the
Both the fractional of ownership
fractional shares of ownership of Common Elements and the the Common
Common Expenses
Expenses of of the
the
apportioned by grouping the Units into the
Units were apportioned the Common
Common Elements
Elements and and Common
Common Expenses assignedassigned to to
each unit shall be based upon the total square
square footage
footage of
of each
each unit
unit in
in uniform
uniform relationship
relationshipto
to the
the total
total square
square
footage of each other unit in the condominium.

The fractional shares for

for each
each Unit
Unit were
were arrived
arrived at
at as
as follows:
follows:

Total 128 Residential Units

UNIT UNIT UNIT

TYPE NUMBER BED/BATH
BED/BATh SQ.
SQ. FT.
Fr. UNDIVIDED INTEREST
FIRST FLOOR
C
C 101 2BR/1-i/2BA
2 BR /1-1/2 BA 887 887/102164
887/102,164
cC 102 2BR/1-II2BA
2 BR /1-112 BA 887 887/102,164
0
D 103
103 2BR/IBA
2 BR 11 BA 887 887/102,164 .

B 104
104 1BR/1BA
1BR/1BA 708 708/102,164
B 105
105 1BR/1BA
1 BR/1 BA 708 7081102,164
708/102,164
B
B 106
106 1IBR/IBA
BR/1 BA 708 7081102,164
708/102,164
B
B 107
107 11 BR/1
BR/i BA
BA 708 708/102,164
B
B 108 11 BR/1
BR/i BA
BA 708 708/102,164
B
B 109 1IBR/IBA
BR/1 BA 708 708/102,164
B
8 110 IBR/IBA
1BR/1BA 708 708/102,164
B
B 111 IBR/IBA
1 BR/1 BA 708 708/102,164
B
B 112 IBR/IBA
1 BR /1 BA 708 708/102,164
oG 113 28R/28A
2 BR/2 BA 1,268 1,268/102,164
B
B 114 1BR/1BA
1 BR/1 BA 708 708/102,164
cC 115
115 2BR/1-1/2BA
2 BR 11-112 BA $87
887 887/102,164
B
B 116 IBR/IBA
1 BR/1 BA 708 708/102,164
BB 118 1BR/IBA
1BR/1BA 708
708 70/102,164
708/102,164
C
C 120 2BR/1-1/2BA
2 BR 11-1/2 BA 887 887/102,164
8871102,164
. SECOND FLOOR
C
C 201 2BR/1-1/2BA
2 BR 11-1/2 BA 887
887 887/102,164
887/102,164·
C
C 202 2BR/1-1/2BA
2 BR 11-112 BA 887
887 887/102,164
0 203 .2BR/IBA
2 BR/1 BA 887 887/102,164
0
D 204 2BR/IBA
2 BR/1 BA - 887 . 887/102,164
8
B 205 1BR/IBA
1BR/1BA 708 708/102,164
F 206 2BR/1-1/2BA
2 BR 11-1/2 BA 957 957/102,164
9571102,164
A 207 IBR/1BA
1 BR/1 BA 646 646/102,164
B
B 208 IBR/IBA
1 BR 11 BA 708 708/102,164

ix
ix
UNIT UNIT UNIT
UNIT.
TYPE NUMBER BEDIBATH
BED/BATH . FT.
SQ. FT. INTEREST
UNDIVIDED INTEREST
B
B 209 1BR/IBA
1 BR 11 BA 708 708/102,164
B 210 IBR/IBA
1BR/1BA . 708 706/102,164
708/102,164
B
B 211 IBR/1BA
1 BR 11 BA 708 708/102,164
B
B . 212 1 BR/1
BR/i BA
BA 708 708/102,164
E
F 213 2BR/i-i/2BA
2 BR 11-1/2 BA 919 919/102164
9191102,164
B 214 IBR/1BA
1BR/1BA 708 708/102,164
B 215 1BR/1BA
1 BR 11 BA 708 708/102,164
F 216
216 2BR/1-1/2BA
2 BR 11-1/2 BA 957 957/102,164
A
A 217
217 IBR/IBA
1 BR/1 BA 646 646/102,164
o
D 218 2BR/IBA
2 BR/1 BA 887 887/102,164
B 219 1BR/IBA
1BR/1BA 708 708/102,164
c
C 220 2BR/1-1/2BA
2 BR 11-1/2 BA 887 . 887/102,164
8871102,164
D 221 2BR/1BA
2BR/1 BA 887 887/102,164
C 222 2BR/1-1/2BA
2 BR 11-1/2 BA 887 887/102,164
8871102,164
THIRD FLOOR
C 301 2BR/1.1/2
2 BR 11-1/2 BA
BA 887 887/102,164
8871102,164
c
C 302 .
. 2BR/1-1/2BA
2 BR 11-1/2 BA 887 887/102,164
o
D 303 2BR/IBA
2 BR/1 BA 887 887/102,164
D 304 2BR/1BA
2BR/1BA 887 887/102,164
B 305 1BR/1BA
1 BR/1 BA 708 708/102,164
F 306 2BR/1-1/2BA
2 BR 11-1/2 BA 957 957/102,164
A 307 IBR/IBA
1 BR/1 BA 646 646/102,164
646/192,164
B 308
308 IBR/1BA
1 BR/1 BA 708 708/102,164
B 309 1IBR/1BA
BR 11 BA 708 708/102,164
B 310 11BR/1BA
BR/1 BA 708 708/102,164
B 311 1IBR/IBA
BR/1 BA 708 708/102,164
s
B 312 1IBR/IBA
BR/1 BA 708 708/102,164
E
F 313 2BR/1-1/2BA
2 BR 11-1/2 BA 919 919/102,164
9191102,164
B 314 IBR/IBA
1 BR/1 BA 708
08 708/102,164
B
B 315 IBR/IBA
1 BR/1 BA 708 708/102,164
F 316 2BR/1-1/28A
2 BR 11-1/2 BA 957 957/102,164
9571102,164
A 317 1BR/1BA
1BR/1BA 646 646/102,164
o
D 318 2BR/IBA
2 BR 11 BA 887 887/102,164
B
B 319 IBR/IBA
1BR/1BA 708 708/102,164
c
C 320 2BR/1-II2BA
2 BR 11-1/2 BA 887 887/102,164
8871102,164
o
D 321
321 28R/1BA
2 BR 11 BA 887 887/102,164
C 322 2 BR 11-1/2
/ 1-1/2 BA
BA 887 . 887/ 102,164
8871102,164
FOURTH FLOOR
FLOOR
C 401 2 BR 11-1/2
I 1-1/2 BA 887
C
- 887/102,164
8871102,164
C 402 2 BR 11-1/2
/ 1-1/2 BA 887 887/102,164
D 403 2BR/IBA
2BR/1 BA 887 .
. 887/102,164
0
D 404 2BR/IBA
2 BR 11 BA 887 887/102,164
B 405 IBR/1BA
1 BR/1 BA 708 708/102,164

x
 (

UNIT UNIT UNIT

TYPE NUMBER BED/BATH Sa.
SQ. FT.
Ft. UNDIVIDED INTEREST
F
F 406 2BRII-l/2BA
2 BR /1-1/2 BA 957 957/102,164
A 407 1BR/IBA
1 BR /1 BA 646 646/102164
646/102,164
B
B 408 I BR
1 / I BA
BR /1 BA 708 708/102,164
708 / 102,164
B
B 409 1BR/IBA
1 BR /1 BA 708 708/102,164
B
B 410 IBR/IBA
1BR/1BA 708 708/102,164
B 411 IBR/IBA
1 BR /1 BA 708 708/102,164
B 412 IBR/1BA
1 BR /1 BA 708 708/102,164
E 413 2BR/1-1/2BA
2 BR /1-1/2 BA 919 919/102,164
B 414 IBR/IBA
1BR/1BA 708 708/102,164
B 415 . IBR/1BA
1 BR/1 BA 708 708/102,164
F 416 2BR/1-1/2BA
2 BR /1-1/2 BA 957 957/102,164
A 417 IBR/IBA
1 BR/1 BA 646 646/102,164
0D 418 2BR/IBA
2 BR /1BA 887 887/102,164
B
B 419
419 IBR/1BA
1 BR /1 BA 708 708/102,164
C 420 2BR/I-1/2BA
2 BR /1-1/2 BA 887 887/102,164
0D 421
421 2BR/IBA
2 BR/1BA 887 887/102,164
C 422 2BR/1-1/2BA
2 BR /1-1/2 BA 887 887/102,1é4
887/102,164
FIFTH FLOOR
C
C 501
501 2BR/1-1/2BA
2 BR /1-1/2 BA 887
887 887/102,164
887/102,164
C 502 2BR/1-1/2BA
2 BR /1-1/2 BA 887
887 887/102,164
887/102,164
0
D 503 2BR/IBA
2 BR/1BA 887
87 887/102,164
0
D 504 2BR/1BA
2BR/1BA .887
887 887/102,164
B
B 505 IBR/IBA
1 BR/1 BA 708 708/102,164
F
F 506
506 2BR/I-1/2BA
2 BR /1-112 BA 957
957 957/102,164
A 507 IBR/IBA
1 BR/1 BA 646 646/102,164
B
B 508
508 IBR/IBA
1 BR /1 BA 708 708/102,164
B
B 509
509 IBR/IBA
1 BR/1 BA 708 708/102,164
B 510
510 IBR/IBA
1BR/1BA 708 708/102,164
B 511 IBR/IBA
1 BR/1 BA 708 708/102,164
B 512
512 IBR/IBA
1 BR/1 BA 708 708/102,164
E
E 513
513 2BR/1-1/2BA
2 BR /1-1/2 BA 919 919/102,164
B
B 514 IBR/IBA
1BR/1BA 708 708/102,164 .
B
B 515 IBR/IBA
1 BR/1 BA 708 708/102,164
F 516 2BR/1-1/2BA
2 BR /1-1/2 BA . 957 957/102,164
A 517 . IBR/IBA
1 BR/1 BA 646 646/102164
646/102,164
0D 518 2BR/IBA
2 BR/1BA 887 887/102,164
B 519 IBR/IBA
1BR/1BA 708 708/102,164
.
C 520 2BR/1-1/2BA
2 BR /1-1/2 BA 887- 887/102,164
0
D 521 2BR/IBA
2 BR/1BA
- 887 ,~, 887/102,164
C
C 522 2BR/1-1/2BA
2 BR /1-112 BA 887 .
- 887/102,164
SIXTH FLOOR
C
C 601 2BR/l-I/2BA
2 BR /1-112 BA 887 887/102,164
C
C 602 2 BR //1-1/2
1-1/2 BA 887 887/102,164
887 / 102,164

xi
 .

UNIT UNIT UNIT

TYPE NUMBER BED/BATH SQ. FT. INTEREST·
UNDIVIDED INTEREsT--
603 2BR/1BA
2SR/1SA .. 887
D
D 887/102,164 .

D
D 604 28R/1BA
2 SR /1 SA 887 887/102,164
887/102.164
S
B 605 11BR/1BA
SR/1 SA 708 708/102,164
708/102.164
F 606 2BR/1-II2BA
2 SR /1-112 SA 957 957/102,164
A
A 607 1IBR/IBA
SR/1 SA 646 646/102,164
B
B 608 1BR/IBA
1SR/1SA 708 708/102,164
5
B 609 1BR/IBA
1SR/1SA 708 708/102,164
1IBR/IBA
.
B
B 610 SR/1 SA 708 708/102,164
B
B 611 1IBR/IBA
SR/1 SA 708 708/102,164
B
B 612 1IBR/1BA
SR/1 SA 708 708/102,164
E 613 2BR/1-1/28A
2 BR /1-112 SA 919 919/102,164
S
B 614 IBR/IBA
1SR/1SA 708 708/102,164
B
B 615 IBR/IBA
1SR/1SA 708 708/102,164
F 616 22BR/1-1/28A
BR /1-112 SA 957 957/102,164
A
A 617 1IBR/1BA
SR/1 SA 646 646/102,164
D
D 618 2BR/IBA
2 SR/1 SA 887 887/102,164
S
B 619 1 SR/1
BR/I BA
SA 708 708/102,164
708/102,164.
C 620 25R/1-1/2BA
2 SR /1-112 SA 887 887/102,164
D
D 621 228R/1BA
SR /1 SA 887 887/102,164
C
C 622 2BR/1-1/2BA
2 SR /1-112 SA 887
887 887/102,164

TOTAL 102,164
102,164 102,164/102,164

A/I
All Square footages shown are approximate.
!11~
.~ UNIT BREAKDOWN'
BREAKDOWN:
. UNIT
UNIT UNIT NO. OF UNIT
TOTAL UNIT FRACTIONAL TOTAL
TYPE AREA UNITS
UNITS AREA EACH
SHARE EACH FRACTIONAL SHARE
A
A 646 10 6,460 646/102,164
6461102,164 6,460/102,164
B
B 708 57 40,356 708/102,164 40,356/102,164
C 887 24 21,288 887/102,164 21,288/102,164
D 887 21 18,627
18,627 887/102,164 18,627/102164
E 919 5 4,595 919/102,164
919/102,164. 4,595/102,164
.
F 957 10 9,570 957/102,164 9,570/102,164
C
G 1,268 11 1,268 1,268/102.164
1,268/102,164 1,268/102,164
1,268/102,164
.

TOTAL 128 102,164 102,164/102,164

.

All
All Square
Square footages
footages shown
shown are
are approximate.
approximate.

13. Estimated Operatinq

Operating Budqet
Budget and
and Budqet
Budget Guarantee.
Guarantee...

A Budget for the Offered Condominium

Gondominium is attached to this Offering Circular as Schedule 3. 3.
The Budget
Budget constitutes
constitutes a summary of the
the mandatory
mandatory financial
financial obligations
obligations of Unit Owners payable to the
payable to the
Association as
Association as Common
Common Expenses.
Expenses. Reference
Reference should
should be
be made
made to the Notes
Notes to Budget
Budget in reading and
reading and
understanding the assumptions used in preparing the Budget.
Budget. Developer
Developerbelieves
believes that the Budget
thatthe BUdget is reliable;
reliable;
however, because expenditures
however, expenditures may differ from estimated expenditures and because
because of of possible changes in in

xii
xii
 ( (

the future
future expenses
expenses of the
the Offered
Offered Condominium,
Condominium, it is not
not intended
intended nor
nor should
should itit be
beconsidered
considered as
as aa
representation, guarantee or
representation, guarantee or warranty
warranty of any kind whatsoever including, without limitation,
whatsoever including, limitation, that the actual
actual
expenses for any period of operation maymay not
not vary from the amount estimated, thatthat the
the Association will
will not
not
incur additional
additional expenses
expenses or that the Association will not provide .for
for additional reserves
reserves or
or other
other sums
sums notnot
reflected in the proposed
proposed budget. Hence,
Hence,thetheBudget
BUdgetdoes
does not
not constitute
constitute any
any warranty
warrantyor orguarantee
guarantee as
as to
to the
the
magnitude of "Annual Assessments" levied under
Assessments" levied under Article
Article XXI
XXI of
of the
the Declaration
Declaration or
orthe
the Budget
BUdget adopted
adopted after
after
the termination of the "Guarantee Period"
Period" discussed
discussed below.
below.

The Budget
Budget isis not
not intended
intended nor
nor should
should itit be
be considered
considered allall inclusive
inclusive or
or as
as aa representation,
representation,
guarantee or
guarantee or warranty
warranty ofof any
any kind whatsoever
Whatsoeverof ofall
all expenses
expensesto to be
be incurred
incurred asas aa result
result of Unit ownership.
ownership. For
example,
example, the Budget does not not include
include real
real estate
estate taxes
taxes on
on the
the Units,
Units, Unit
UnitOwners'
Owners'insurance,
insurance, telephone,
telephone,
electricity or other utility services which are billed directly to to the
the Unit Owner
Owner and
and not through
through thethe Association.
Association.

The
The Developer
Developershall
shallbebeexcused
excusedfromfromthe
thepayment
paymentof ofits
its share
share of
of the Common Expenses and
Assessments related to those Units
Units itit owns
owns for
for aa 12-month
12-month period
period of
of time
time commencing
commencingat atrecordation
recordationofofthe
the
Declaration
Declaration of Condominium. However, the Developer must pay the the portion
portion of
of Common
Common Expenses incurred
incurred
during that period which exceeds amount assessed against other Unit Owners.
exceeds the amount Developer has guaranteed
Owners. Developer
the assessment amounts,
amounts, during the guarantee period, as set
period, as set forth
forth below.
below. The
The monthly
monthly dollar
dollar amount
amount forfor
each Unit Type
each Type during
during the
the guarantee
guarantee period is as follows:
follows:

UNIT TYPE MONTHLY

A $ 150.40
150.40
B $ 164.84
164.84
C
C $ 206.51
D $ 206.51
E $$ 213.95
F $$ 222.80
G $ 295.20

14. Schedule of Closing

Closing Expenses.
Expenses.

The Purchaser
Purchaser is
is required
required under
under the
the terms
terms of
of the
the Purchase
Purchase Agreement
Agreement executed
executed by the
the
Purchaser to pay the
the following expenses in in connection with the closing of
of this transaction:

a. A proposed
proposed charge
charge for
for monthly
monthly maintenance assessments as
maintenance assessments as set
set forth
forth in
in the
Estimated Operating
Operating Budget for the Association attached
attached as Schedule "3" to this Prospectus.
Prospectus.

b. Real property
property taxes
taxes from
from the
the date
date of
of closing to
to the
the end
end of
of the calendar
calendar year
year in which
said closing took place.

c. Mortgage closing
Mortgage closingcharges
charges(if(ifthe
thetransaction
transactionisisto
tobe
befinanced)
financed)which
which may
mayinclude,
include, but
but
are not limited
limited to,
to, the following
following expenses,
expenses, the extent of which
which must be
be ascertained
ascertained from the
the lender
lender by
Purchaser.
(1) Abstract charges
(2) Stamps on
Documentary Stamps on the
the Mortgage
(3) Intangible taxes on the Mortgage
(4)· Fee for recordation
recordation of the Mortgage
(5) Prépaid interest
Prepaid
(6) Credit report - ,.
(7) Appraisal fee
(8) closing costs (commonly called points)
Mortgagee's closing
(9) Mortgagee's attorney's fees
(10) Payments into any escrow
escrow account which may be required
required by the
the
lender.

xiii
 (11) Premium
Premium for Mortgagee
Mortgagee policy,
policy of title
title insurance.
insurance. This closing
closing
, expensewillbe
expense will be $150
$150
(12) Settlement fee to Closing
Closing Agent
(13) Reimbursement
Reimbursement toto Seller
Seller for
for any
any utility,
utility, cable
cable or
orinteractive.
interactive.
or hook-up fees.
communication deposits or .fees.

d. $75.00 key charge.

e. In addition
In addition to
to the
the foregoing,
foregoing, the
the following
following charges
charges shall
shall be
be incurred
incurred by the
the Buyer
Buyer at
at
closing, in addition to the balance of
closing, of the purchase price:

(1) A sum equal to one and three-quarter (1-3/4%) percent of of the purchase
purchase price
price
from which sum Seller
Seller shall
shall pay
pay the cost
cost of
of recording the
the Deed,, documentary
Deed, documentary
stamps on the transfer, other transfer costs, document
document preparation,
preparation, and the
owner's policy of title insurance.

(2) A capital contribution equal to two (2) months maintenance.

f. least five (5) days prior to Closing, Seller will

At least will furnish to
to Buyer
Buyer aacommitment
commitmentfor for an
ALTA Form
ALTA Form BB Owner's
Owner'sTitle
TitleInsurance
InsurancePolicy Policyissued
issuedby byaatitle
titleinsurance
insurancecompany
companyauthorized
authorizedtotodo
dobusiness
businessin in
the State of Florida, insuring
insuring that
that title
title to
to the
the Unit
Unit at
at Closing
Closing shall
shall be
be good, marketable and/or
and/or insurable, subject
SUbject
only to
to those
those items listed in the Purchase and and Sale
Sale Agreement.
Agreement. Purchaser shall shall pay
pay Seller
Seller at
at Closing
Closing aa sum
sum
equal to one and
equal and one-half (1-3/4%) percent of the Purchase Price payable in cash cash or by cashier's check,
check, a
portion of which is a closing fee to defray costs of of and related to the Closing and from which sum Seller Seller shall,
things, pay the
among other things, the cost of recording
recording thethe Deed,
Deed, documentary
documentary stamps
stamps onon the
the transfer,
transfer, other
other transfer
transfer
costs, and the owner's policy of title insurance described herein.
costs, herein.

15. Identity
Identity of
of Developer.
Developer.

The Developer pursuant

pursuant to this Offering is
is SKYRE
SKYRE LLC, a Florida liability company.'
company. This is
the first
first cpndominium
condominium development
development undertaken
undertaken by
by SKYRE
SKYRE LLC.
LLC. Ben Klein,
Ben Klein, managing
managing member,
member, has
has
developed residential properties in
in New
New York
York and
and in
in Miami
Miami Beach
Beach for
for the
the last
last ten
ten (10)
(10) years.
years.

16. Contracts and Leases.

Leases.

As of
of the date
date of
of this Prospectus,
Prospectus, the
theAssociation
Associationhas
hasnot
notentered
enteredinto
intoany
anycontracts
contractshaving
havingaa
term in excess of one (1) year for the purpose ofof maintenance and
and operation of
of the Condominium
Condominium property.
property.

Any such agreements

agreements may
may be
be canceled
canceled byby Unit
Unit Owners
Owners other
other than the Developer, pursuant
pursuantto
to and
and in
in
accordance with Section 718.302(1)(a), Florida
Florida Statutes,
Statutes, which
which is
is quoted
quoted as
as follows:
follows:

"718.302 Agreements entered

Agreements entered into
into by
by the
the Association.
Association.

(1) Any grant or reservation made by a Declaration,

Declaration, lease,
lease, or other document,
document,
and any contract made by by an
an Association prior
prior to
to assumption
assumption ofof control
control of
of the
the Association
Association by
by Unit
Unit Owners
Owners
other than the Developer, that provides for operation, maintenance
maintenance or a management of aa Condominium
Condominium
Association or property
property serving
serving the Unit
Unit Owners
Owners of of aa condominium
condominium shall
shall be
be fair
fair and
and reasonable,
reasonable, and
and may
may be
be
other than the
cancelled by Unit Owners other the Developer:
Developer:

(a) If the Association operates only one condominium and the Unit Owners other other than
Developer have
the Developer have assumed
assumed control ofthe
control of the Association,
Association, or
or ifif Unit
Unit Owners other than
the Developer own not
Developer own not less
less than
than seventy five (75%)
seventy five (75%) percent
percent of of the
the Units
Units in
in the
Condominium, the cancellation shall be be by
by concurrence of of thethe Owners
Owners of of not
not less
less
than
than seventy five (75%)
seventy five (75%) percent of the Units
Units other
other than the
the Units
Units owned
owned byby the
the

xiv
xiv
 Developer. IfIfaagrant,
grant, reservation,
reservation, or
or contract
contract is
is so
so cancelled
cancelled and
and the
the Unit
Unit Owners
Owners
other
other than
than the
the Developer
Developer havehave not
not assumed
assumed control
control of
of the
the Association,
Association, the the
Association
Association shalt
shall make
make a new new contract
contract or
or otherwise
otherwise provide
provide for
formaintenance,
maintenance,
management, or or operation
operation in lieu of the
thecancelled
cancelled obligation,
obligation, at
atthe
the direction
direction of
of the
the·
Owners oror not
not less
less than
than aa majority
majority of
of the Units
Units inin the
the Condominium
Condominium otherother than
than the
Units owned
Units owned bybythe
theDeveloper.'1
Developer."

17. Arbitration.

Disputes between
Disputes between a Unit Owner OWner and the the Association,
Association, asas defined
defined inin Section
Section 718.1255(1),
718.1255(1),
Florida Statutes, involving Unit Owners, Associations and/or Tenants, shall be resolved by mandatory non-
end/or Tenants,
binding arbitration
binding arbitration in
in accordance with the rules rules of
of the Division
Division of
of Florida
Florida Land
Land Sales,
Sales, Condominiums
Condominiums and and
Mobile Homes. Without limiting the
Without limiting the effect
effectofof the
the foregoing sentence, pursuant
pursuant to
to Section
Section 718.1255(4), Florida
Florida
Statutes, prior to the institution of
of court
court litigation
litigation (whether
(whether to enforce an arbitration award or or otherwise),
otherwise), the
parties to
parties to a dispute
dispute shall
shall petition
petition the
the Division
Division for
for nonbinding
nonbinding arbitration.
arbitration. Pursuant
Pursuant to to Rule
Rule 61B-45.015(1),
61B-45.015(1),
F.A.C., parties
FAC., parties to an an arbitration
arbitration proceeding
proceeding are are limited
limited to unit
unit owners,
owners, associations
associations and and tenants
tenants,
Notwithstanding anything
Notwithstanding anything contsined
contained herein to the contrary,
contrary, the remedies afforded by Sections 718.303 and and
718.506, Florida Statutes, shall not be limited. Furthermore, this Section shall not not impair
impair the
the Association's
Association's
access to the courts, as representative of of the
the purchasers, pursuant to Section 718.111
718.111(3), Statutes.
(3), Florida Statutes.

18. Environmental Reports.

Environmental Reports are available

Environmental for review
available for review at
at the
the Developer's office.

19. Disclosures Reqardinq

Regarding Condominium.
Condominium.

The agreement
agreement to
to purchase
purchaseaaunit
unitin
in the
the Condominium
Condominium(hereinafter
(hereinafterreferred
referredtotoas
as"Contract')
"Contracf')must
mustbe
be
signed by both
both the Purchaser
Purchaser.and
and Developer and contain provisions covering the following
follOWing items.

Prospectus. The Purchaser

Prospectus. The Purchaserhas
has received
received and
and read
read the
the Condominium Prospectus.

Budget. The Condominium

Estimated Budget.
Estimated Condominium Association
Association budget
budget provided
prOVided to Purchaser
Purchaser is
is based
based onon
estimated
estimated expenses only and may
expenses only may increase
increase or
or decrease
decrease significantly
significantly when the actual
actual expenses
expenses ofof the
the
Condominium Association become
become known.
known.

Model Unit/Sales Office. For Forthe

the purposes
purposes of ofcompleting
completing the the sales
sales promotion
promotion of
of the
the Condominium
Condominium
and until the sale of
of all Units in the Condominium, the the Seller,
Seller, its
its successors
successorsandand assigns,
assigns,isishereby
herebygiven
giventhethe
full right and authority to maintain
maintain oror establish
establish on
on the
the Condominium
Condominium Unit Unit and Common Elements
Elements such models,
sales offices,
offices, banners,
banners, balloons and advertising signs, if any,
advertising signs, any, as Seller
Seller may
may deem
deem necessary
necessary in in its
its sole
sole
discretion, together with the right of of ingress
ingress and
and egress
egress to the Common ElementsElements in
in connection
connection therewith,
therewith.

Attorneys' Fees. Except

Attorneys' Fees. Exceptas asprovided
prOVided inin the
theContract,
Contract, inin the
theevent
eventofofanyenylitigation
litigationor orarbitration
arbitration
concerning this transaction,
transaction, the theprevailing
prevailingparty
partyshall
shallbe
beentitled
entitledto
toreàover
recoverits
its reasonable
reasonable costs
costs and
and attorneys'
fees, inclusive
fees, inclusive of Court costs and attorneys'
attorheys' fees
fees incurred
incurred in
in any
any appellate
appellate proceeding.
proceeding. Further,
Further, Purchaser
herebywaives
hereby Waives the
the right
right to
to aa trial
trial by
by jury
jury in
in any
any claims
claims or
or counterclaims
counterclaims brought
brought pursuant
pursuantto to the
the Contract.
Contract.

Utility Meters.
Utility Purchaser acknowledges
Meters. Purchaser acknowledges that there may be be separate
separate utility
utility meters
meters for
for each Unit In
each Unit.
such an event, it shall be Purchaser's soleresponsibility,
Purchasers sole responsibility,and-at
and-etPurchasers
Purchaser'ssole
soleexpense,
expense,tototransfer
transferany
anyand
and
all utility services to the Unit upon Closing, inasmuch
inasmuch asas all
all utilities
utilities serving
serving the Unit shall be disconnected from
theUnit from
Seller's account
Seller's account upon
upon Closing
Closing without
without prior
prior notice
notice to
to Purchaser.
Purchaser, Purchaser
Purchaser shall
shall bebe responsible
responsible for
for sub-
sub-
metered water & sewer charges as well.

xv
 Insurance. Purchaser
Insurance. Purchaser isis hereby
herebynotified
notified that
that the
the insurance
insurance policy
policy which is is currently
currently included
included inin the
the
monthly maintenance
monthly maintenance payment
payment doesdoes not
not cover personal
personal property..
property. ForFor that
that reason;
reason, itit is
is the
the Seller's
Seller's
recommendation that
that Purchaser
Purchaser should
should obtain
obtain aa casualty
casualty insurance
insurance policy
policy for
for all
all personal
personal property
property inin the Unit
and seek the advice of an insurance professional as to any other other types
types of
of insurance
insurance coverage that that might
might be
be
appropriate for.the
for the Purchaser.
Purchaser.

Property Ownership. The

Propertv The property
propertyownership
ownershipinterest
interestPurchaser
Purchaserwill
willacquire
acquireisisaaCondominium
CondominiumUnit.
Unit.
The Condominium
Condominium Unit Unit is
is aa fee
fee simple ownership.
ownership. TheThe Condominium
Condominium Unit shall consist
consist of the
the airspace
airspace
defined in the
the Declaration.
Declaration. The
The insurance
insurance of
of the
the contents of the residence and the interior maintenance
maintenanceand and
the residence within
repair of the within the individual Unit shall
shaDbebePurchaser's
Purchaser'sresponsibility.
responsibility. Such
Such responsibilities
responsibilities are
are
further defined and
and described
described in in the
the Declaration.
Declaration:

Schools. Purchaser
Schools. Purchaser should
should verify
verify with
with the
the local
local School
School District
District the
the schools
schools designated
designated to service
Purchaser's Unit. Due
Due to
to the
the rate
rate of
ofpopulation
population change,
change, thethe school
school districts
districts may
may find
find itit necessary
necessary to
to change
boundaries and designated schools
schools periodically,
periodically, both
both prior
prior to
to and after the Closing. Seller
Seller has
has no
no control over
responsibility for
or responsibility for any such
such change(s}.
change(s)..

Facilities.
Facilities. Purchaser is responsible for satisfying itself regarding the conditions and development of
the Condominium by revie""ing
reviewing information
information such
such as,
as, but
but not
not limited to, title reports, development
developmentplans,
plans, soils
soils
reports and
and other documents relating to the conditions
conditions and, development of
and. development of the
the Condominium
Condominium and obtaining
outside professional advice concerning
concerning them.
them. Site
Siteplans,
plans, zoning
zoning maps,
maps, utility
utility plans,
plans, phone
phoneplans,
plans, landscape
landscape
plans,
plans, street improvement
improvement plans,
plans, sewer, water,
water, storm drain,
drain, electric
electric power,
power, telephone,
telephone, CATV, streetlights,
street lights,
precise grading
precise grading and
and fencing
fencing plans are available to Purchaser for review. Purchaser Purchaser acknowledges
acknowledges thatthat any
any
plans Purchaser reviewed on the day day that
that Purchaser
Purchasersigned
signed this
this Contract
Contractare
arenotnotthe
the "As-Built"
"As-Built" conditions
conditions and
and
may change
change SUbject
subject to
to field
field conditions,
conditions, Seller initiated
initiated design
design modifications,
modifications, andand changes mandated by an an
Agency with jurisdiction over
over the
the Condominium,
Condominium, such
suchas asaautility
utilitycompany.,
company.

Company Equipment.
Utility Company Equipment, Various
Variousutility
utilityequipment
equipmentand/or
and/orenclosures
enclosureswillwill be
belocated
located as
as required
required by
the utility companies throughout
throughout the
the Condominium
Condominium project.
project. Some
Someequipment
equipmentand/or
and/orstructures
structuresmay
maybe belocated
located
'above ground. Purchaser
above .ground. Purchaser should
should check plans showing
showing the placement of street light poles, meter pedestals,
pedestals,
telephone pedestals, water meters, T.V. T.V. pedestals,
pedestals, AirNac
AirNacrelease
releasevalves,
valves, blow
blow offs,
offs, and
and other
other utilities.
utilities. Seller
Seller
suggests
suggests that Purchaser review all all the
the plans
plans thoroughly. Seller assumes
thoroughly. Seller assumes no responsibility
responsibility for
for damages
damages
caused by any negligence of the utility
utility compaqies.
compal1ies. .

Cable
Cabie and Satellite T.V. T.V. Cable
Cable T.V.
T.V. outlets
outletswill
will be
be installed
installed in all of the Units; however, Seller has no
responsibility or liability of any kind with respect
respect to
to the commencement
commencementof ofcable
cableT.V.
T.V.service
serviceand
andSeller
Sellermakes
makes
no, representationor
no representation orwarranty
warrantyasastotowhen cable1.T.V.
whencable serviceswill
V. services willbe
beavailable.
available.The
Thecommencement
commencement of of cable
cable
T.V. service is Purchaser's responsibility.
responsibility.

Contaminates. The
Contaminates. The grading
grading of
of the
the soil
soil and
and other
otherelements
elements created
created by by nature,
nature, as
as well
well as
as building
building
materials developed by man, man, many times create unwanted and and undesired gases and other contaminates in in
homes and residential buildings,
bUildings, both new
new and used. Also, Also, since
since energy conservation has become a concern, concern,
there is a need
need toto build
build homes
homes and
and residential
residential buildings
buildings that
that are
aremore
moreairtight.
airtight. As a reSUlt,
result, these homes and and
residential buildings
buildings trap
trap unwanted
unwanted gases
gasesinindifferent
differentdegrees
degreesdepending
dependingon on how
howeach
eachperson
person lives
lives within
within their
home or such
such residential
residential building.
building. To date
date measurements
measurements of of such unwanted gases (such as the radon radon gasgas
described beiow)
below) are reported as parts of the air they occupy.occupy. Since
Since the
the quality
quality of
ofair
airwewe breathe
breathe cancan affect
affect
our health, Seller recommends frequent
frequent airing
airing of
ofPurchaser's
Purchaser'sUnitUnitby
by simply
simplyopening,
opening windows
windows to to introduce
introduce
fresh air uncontaminated with such gases.

Lead Solder
Solder in Water
Water Pipes,
Pipes. Due
Duetotothe
theuse
useofoflead
leadininthethesoldering
solderingofofthe
thejoints
jointsand.,
and plumbing fittings
on the property,
property, which
which is prevalent in many
many properties,
properties, itit is--recommended.that
is--recommended·that the the drinking
drinking water
water taps
taps be
be
flushed for five
flUshed five minutes
minutes prior to
to usage
usage after anan absence
absence from
from the the apartment
apartment units for one week or longer..
longer.

Paint. Every
Lead Paint. Every purchaser
purchaserof ofany
anyinterest
interestin
in residential
residential real
real property
property on
on which a residential dwelling
dwelling
was built prior to 1978 isis notified
notified that
that such property may present
present exposure
exposure to to lead
lead from
from lead-based paint that
young children
may place young children at
at risk
risk of
of developing lead poisoning. Lead
Lead poisoning in young children
children may
may produce
produce

xvi
xvi
 ( (C

permanent neurological
neurological damage,
damage, including
including learning
learning disabilities,
disabilities, reduced intelligence quotien~
reduced intelligence quotient behavioral
behavioral
problems, and impaired
problems, and impaired memory.
memory. Lead Lead poisoning also poses
poisoning also poses aa particular risk to
particular risk to pregnant
pregnant women.
women. The
developer of
of any
any interest
interest in
in residential
residential real
real property
property is
is required
required to
to provide
provide the
the buyer
buyerwith
with any
any information
information on
on
lead-based paint hazards.
lead-based paint hazards. AArisk riskassessment
assessmentororinspection
inspectionfor forpossible
possiblelead-based
lead-basedpaint
painthazards
hazards isis
recommended
recommended prior
priorto
to purchase.
purchase.For Forpurposes
purposesofofthis
thisdisclosure,
disclosure,lead-based
lead-basedpaint
paintwill
willbe
bereferred
referredtoto as
as "LBP"
"LBP"
paint hazards
and lead-based paint hazards will
will be
be referred
referredto
toas
as "LBPH."
"LBPH." Developer
Developerhas hasno knowledgeofofLBP/LBPH
noknowledge LBP/LBPHin in the
the
housing and
housing and no available LBP/LBPH records or reports, except as indicated indicated in
in aa disclosure
disclosure or or addendum.
addendum.
Buyer has received
Buyer has received the pamphlet entitled
entitled "Protect Your Family
"Protect Your from Lead
Family from Lead in
in Your
Your Home'
Home" covering
covering the'the
foregoing information inin detail.
detail.

Mgj.
Mold.MoldMoldis isa a
type
typeofof
fungus
funguswhich
whichoccurs
occursnaturally
naturallyininthe
theenvironment
environmentand and isisnecessary
necessary for the
natural decomposition of of plant
plant and
and other
other organic
organic material.
material. It spreads by means of of sharing
sharing inin microscopic
microscopic
spores borne on the wind,
wind, and is found everywhere
everywhere life
life can
can be
be supported.
supported. Residential home construction is
not, and cannot be, designed to to exclude
exclude mold
mold spores.
spores. IfIfthe
thegrowing
growingconditions
conditionsareareright,
right,mold
moldcancangrow
growinin
your Residence. In In order
orderto to grow,
grow, mold
mold requires
requires aa food
food source.
source. This
Thismight
mightbe besupplied
suppliedby byitems
itemsfound
found in
in the
the
home, such as fabric, carpet or or even
even wallpaper
wallpaper to name a few. few. Also,
Also, mold
moldgrowth
growth requires
requires aa temperate
temperate
climete
climate and, finally
finally mold
mold growth
growth requires moisture. Moisture
requires moisture. Moisture is is the only mold
mold growth factor that can be be
controlled in a residential
residential setting. By Byminimizing
minimizing moisture,
moisture, anan Owner
Owner cancan reduce
reduce or
or eliminate
eliminate mold
mold growth.
Moisture in the home can have many causes. Spills, Spills, leaks,
leaks, overflows,
overflows, condensation,
condensation, and and high
high humidity
humidity are
common sources of home moisture. Good Good housekeeping
housekeeping and and home
home maintenance
maintenance practices
practices are
are essential
essential in
the effort to prevent or eliminate mold growth. IfIfmoisture
moisture isis allowed
allowed toto remain
remain on
on the
the growth medium, mold
can develop within 24 to 48 hours.

Electric && Magnetic

Maqnetic Fields. All
All power
power lines
lines and
and electrical
electrical appliances
appliances that
that draw
draw electric
electric current
current have
electromagnetic fields
electromagnetic fields ("EMFs")
("EMFs")around
aroundthem.
them.There
Thereare
arevarious
varioustypes
typesofofstudies
studiescurrently
currentlybeing
being conducted
conducted by
E researchers
researchers to to determine
determine whether or not therethere are health
health risks associated with EMFs.
associated with EMFs. The The electric
electric utility
utility
industry and local power
power companies
companiesmonitor
monitorthese
theseresearch
researchactivities
activitiesand
andwork
workwith
with their
their customers
customers to explain
what EMFs are and how people can find out more about them. Seller Sellerhas
has no
no expertise
expertise regarding
regarding EMFs.
EMFs. AsAs a
result, Seller
result, Seller does
does not makemake representations
representations or warranties
warranties of any kind,
kind, express
express oror implied,
implied, or
or provide
provide
information about the presence or effect of EMFs on on or in proximity
proximity to
to the
the Unit. company
Unit. The local electric company
servicing the Unit, the state or the local environmental, energy or or health agencies, or the regional office ofthe
of the
may provide
EPA may provide such
such information about EMFs.

Windows
Windows and and Front
Front Doors.
Doors. Windows
Windowsmaymayvary
varyfrom
fromelevation
elevationtotoelevation
elevationand
andfrom
fromfloor
floorplan
plan to
to floor
plan. Windows
plan. Windows on on lower
lowerfloors
floors may
maybebeless
lesswind
wind resistant
resistant than
than windows
windows on on upper
upper floors
floors of
of the
the building.
building.
Windows
Windows andand front
front doors
doors on
on the
the Units
Units may
may vary
vary from those
those onon the models. IfIfPurchaser
Purchaserneeds
needsclarification
clarification on
the specific
specific windows
windows and doors
doors which
which are
are planned
planned for
for Purchasers
Purchaser's Unit,
Unit, Purchaser
Purchaser should
should request
request thisthis
information from the sales representative.
representative.

Wood Buildinq
Building Materials.
Materials.Lumber
Lumbercontains
containsmoisture
moisturewhen
wheninstalled
installedand
andwill
willdry,
dry, shrink
shrinkand
and settle
settle after
installation.
installation. As
As aa result,
result, nails
nails may
may pop
pop from
from drywall
drywall locations, baseboards may maymove
move slightly
slightly and
and exposed
wood may striate or crack. Doors Doorsmade
madeofofwood
woodmaymayshrink,
shrink,swell
swell or
orwarp.
warp. Swelling
Swellingmay mayaffect
affectthe
theway
wayaa
door
door fits in an opening and it may cause sticking. In In some
someinstances
instancespaint
paintand/or
and/ordrywall
drywall seams
seams may
may slightly
slightly
crack. These
Theseconditions
conditions arearenormal
normalincidents
incidentsof
ofhome
home ewnership
ownership unless
unless they
they occur
occur in in the
the extreme.
extreme.

Disclosure. Due
Paint Disclosure. Due toto the
thelarge
large quantity
quantity of
of paint
paint used
used in in the
the Condominium
Condominium project,
project, Purchaser
Purchaser
should be aware that slight
slight variations in paint shade
shade may
may exist
exist from
from Unit
Unit to
to Unit.
Unit. Environmentally safe paints
paints
are used on cabinets,
cabinets, kitchen, bathroom and laundry room walls. walls. Due
Due to to the properties within today's paints,
paints,
Purchaser expectpaint
Purchaser should expect paintto
to yellow
yellowsomewhat
somewhatwith
withtime.
time.This
Thisisisaanormal
normaloccurrence
occurrenceand
andisistherefore
therefore not
not
covered as aa warranty
warranty issue.
issue. Avoid washing or scrubbing painted walls. walls. Lightly
Lightly soiled areas may be cleaned
cleaned
with water and lightly wiping over the soiled areas.
using a sponge with "

Purchaser is
Fixtures. Purchaser is aware
aware that
that certain
certain materials
materials used
used for
forfixtures
fixturesinin aa new
new Unit
Unit(including,
(inclUding, but
but not
not
limited to,
limited to, brass/chrome plumbing fixtures,
brass/chrome plumbing fixtures, brass/chrome
brass/chrome bathroom accessories and
bathroom accessories and brass/chrome light
brass/chrome light
fixtures) are subject to discoloration
discoloration and/or
and/or corrosion
corrosion over
over time.
time.

xvii
 Cabinets and Stain Finished
Finished Woods.
Woods. Natural
Naturalwood
woodhas
hasconsiderable
considerablecolorcolorvariation
variation due due to
to its organic
nature: There
nature. There may
may bebe shades
shades of ofwhite,
white, red,
red, black
black oror even
even green in areas.
areas. In In addition,
addition, mineral
mineral streaks
streaks maymay
visible. Grain
also be visible. Grain pattern
pattern or
or texture
texture will
will vary
vary from consistent to completely irregular;
irregular; woodwood from
from different
different
areas of the same tree can also have variations in pattern or texture.. texture., It is because of these variations that
wood is in such
such high
high demand
demand forfor aesthetic
aesthetic products.
products. 'These
These variations
variations inin grain
grain will
will in
in turn
turn accept
accept stain
stain inin
varying amounts
varying amounts which
which will
will show
show throughout
throughout thethe wood
*ood products
products from one door to the next, one panel to the the
one piece
next or one piece of wood
wood to
to the
the next.
next. Also, cabinet
cabinet finishes (including
(inclUding gloss
gloss and/or
and/or matte
matte finishes)
finishes) will
will not
not be
entirely consistent and some minorminor irregularities
irregularities will
will be
be apparent. Additionally,
Additionally, wood
woodand andwood woodproducts
productsmay may
warping, splitting, swelling and/or delamination.
be subject to warping,

Conversion Condominium,
Conversion Condominium, Implied
Implied Warranties.
Warranties, The
The Condominium
Condominium is is the
the conversion
conversion of ofexisting
existing
apartment buildings to the Condominium for for ownership and is not new construction. The TheDeveloper
Developerowned owned
the condominium
the buildings for a short period of time. The
condominium bUildings TheDeveloper
Developer does
does not
notrepresent
represent to'
to be
be intimately
intimately
familiar with the buildings and Unit
Unit and intends to make
make no more than cosmetic renovations
renovations toto the
the Units
Units and
and
Common Elements
Elements ofof the
the Condominium
Condominiumbuildings.
bUildings.Each
EachUnit
Unitshall
shallbe
bedelivered
deliveredininthe
themanner
mannerrepresented
representedinin
"as is" condition without any express warranties oror representations by the Developer;
Developer, the Association or or any
agent, except for those warranties implied in Section
broker or agent, Section 718.618(6)
718.618(6) and
and 718.203,
718.203, Florida
Florida Statutes,
Statutes, toto
the extent that those warranties under Section 718.203, Florida
Florida Statutes, have not expired.

No converter reserve account

converter reserve accounthas
hasbeen
beenestablished
establishedpursuant
pursuanttotoSection
Section718.618(6),
718.618(6),Florida
FloridaStatutes.
Statutes.
Therefore, pursuant to Section 718.618(6), Florida
Florida Statutes, the Developer is deemed to have granted
granted to
to the
the
fitness and
Purchaser of each Unit an implied warranty of fitness and merchantability
merchantability for
for the
the purposes
purposes oror uses
uses intended,
intended,
the roof
as to the roof and
and structural
structural components
components of the improvements; as to to fireproofing
fireproofing and
and fire
fire protection
protection systems;
systems;
and as to
and to mechanical,
mechanical, electrical
electrical and
and plumbing
plumbing elements
elements serving
serving the improvements,
improvements, except mechanical
mechanical
elements serving only one Unit.
Unit.

To the extent
To extent permitted
permitted by
by law,
law, the
the Developer
Developer specifically disclaims any
specifically disclaims any and
and all other
other implied
implied
warranties of merchantability and fitness as
as toto the
the Condominium
Condominium Property,
Property, any
any Unit
Unit or
or any
any appurtenances
appurtenances
thereto, including any appliances, furniture, fixtures oror personal
personal property.
property.

Water Intrusion. Although

Water Althoughyour
yourUnit
Unitisisconstructed
constructedininaccordance
accordancewith
with customary
customaryindustry
industrypractices,
practices,
there,
there. isis aa probability
probability that
that water
water intrusion
intrusion will
will occur
occur from
from aa variety
variety of sources
sources that are not
not the
the Seller's
Seller's
Often, water intrusion
responsibility. Often, intrusion is the result of an owner's failure
failure to properly
properly operate
operate or
or maintain
maintain that
that
owner's Unit following
following purchase or the unauthorized modification of
unauthorized modification of the
the original
original design
design of the
the Unit.
Unit.. ItIt is
is the
the
responsibility of the
responsibility of the Association
Association and and the
the Purchaser
Purchaser to to assure
assure the
the proper
proper maintenance
maintenance of of the
the Unit.
Unit. The The
Declaration
Declaration' prohibits
prohibits alteration of any
alteration of any utility
utility or
or exterior
exteriorportion
portion of
ofaa Unit
Unit unless
unless adequate
adequate provision
provision is
is made
made and and
such alteration is
such alteration is approved
approved in in advance
advance by by the
the Association.
Association. Seller
Seller will not
not be
be responsible
responsible for
for any
any improper
improper
maintenance, faulty repair performed by by others or or untimely
untimely replacement
replacement of of tailed
.failed materials.
materials.

Views,
Views. No
Norepresentation
representationorwarranty
or warrantyisismade
madebybySeller
Sellerororany
anyof
ofSeller's
Seller'srepresentatives
representatives with
with respect
respect
continued existence of any view or scene from
to the presence or continued from any
any portion
portion of the Unit being
being purchased.
purchased.
Any existing view or scene may change, be blocked or interfered with, with, depending upon activities undertaken
on the remaining land to be developed within the project as well as otherother land
land outside
outside the project
project boundaries.
Seller has the right,
right, at any time,
time, without Purchaser's consent, to develop any remaining
remaining or adjacent land
land for
any purpose allowed by applicable laws or ordinances.

and Square
Unit Dimensions and Square Footages.
Footaqes. Purchaser
Purchaser acknowledges
acknowledges thatthat the dimensions and square
footage
footage of the Unit are approximate and may change.
change. The
Thedecision
decision to
to purchase
purchase isisnot
notbased
based onon precise
precise
dimensions
dimensions and square
square footages.
footages. Purchaser
Purchaserwill
willaccept
acceptthe
thelayout,
layout,position
positionand
and orientation
orientation of
of the Unit in
in its
its as
as
built location. .

Unit Premiums.
Premiums. SomeSome Units
Units may
may carry
carry aapremium
premium based
based on,
on, but
but not
not limited
limited to,
to, view,
view, Unit
Unit size,
size,
finishes, location, and/or elevation differential.

Future Development.
Development. Future
Futuredevelopment
developmentwithin
within the
the real
real property
property adjoining
adjoining or
or in
in the
the vicinity
vicinity of
of the
the
Condominium Unit may occur. Seller
Seller has
has made
made no
no written
written or
or oral representations or warranty concerning
concerning thethe

xviii
xviii
 ( ((

extent or
nature, extent or timing of
of future
future developments,
developments,or orthe
thelocation
locationof
ofany
any building
building within
within such future development.
development.
Seller has not made
Seiler has made anyany written
written or ororal
oralrepresentation
representation or or warranty
warranty concerning
concerning thethe impact
impact on
on the
the
Condominium
Condominium Unit Unit from
from any future
future development
development or uses uses (including,
(including, without limitation, noise and
limitation, noise and traffic
impacts). Seller
Seilerreserves
reserves the
the right
rightto
to change
change the
the location
location or modify the design, plans or specifications of any
any
building or buildings to
building or to be
be located
located within
within the future
future development.
development. Seller
Seiler further
further reserves the right to change
change
product,
product, if necessary, within the community ifif market
market conditions warrant. ..

Pricing.
Pricing. Purchaser
Purchaser acknowledges
acknowledges that that Seller
Seiler has
has the
the full
fuil right
right to
to establish
establish prices
prices for
forthe.
the sale of
properties in
properties in this
this project from time toto time
time without
without regard
regard to the price to be be paid
paid by
by Purchaser
Purchaser or any other
purchasers for any specific Unit
Unit within the Condominium. Purchaser
Purchaser acknowledges
acknowledgesSeller's
Seller's right price
right to offer price
reductions, financing incentives, reduced
reductions, reduced interest
interest rates,
rates, decorator
decorator allowances,
allowances, optional
optional features,
features, and
and other
other
similar incentives
similar incentives to to other
other purchasers
purchasers of of properties
properties in in this
this project without
without any obligation
obligation to to offer
offer any
any
comparable incentives
comparable incentives to
to Purchaser.
Purchaser. Prices
Prices are
are not
not based
based upon square footage of the units.

1031 Exchanges.
1031 Exchanges. All
Ail 1031
1031 Tax
Tax Exchange
Exchange proposals
proposals must be proposed
proposed atat or
or prior
prior to
to signing
signing this
Contract for Purchase and Sale. Seller
Seilerreserves
reservesthe
theright
rightin
in Seller's
Seiler's sole
sole discretion
discretionto
tonot
notparticipate
participate in
in such
such
an exchange.

Mineral Rights. The

TheDeveloper
Developerreserves rightsofofownership
reservesallailrights ownershipinterest
interestinInthe
themineral,
mineral,oil
oil or
orgas
gas rights
under the land. . .

Restrictions. This
Restrictions. This Condominium
Condominiumisissubject
subjectto
tothe
the restrictions
restrictions set
setforth
forth in
in the
the Declaration,
Declaration, Articles
Articles of
of
Incorporation and
Incorporation and By-Laws which are matters
matters of
of public
pUblic record
record and
and copies
copies of
ofwhich
which have
havebeen
been provided
provided to
to
Please be
Purchaser. Please be sure to
to read
read the
the Declaration
Declaration and
and other
other material
material listed
listed above.
above, Seller
Seiler suggests
suggests
file these documents for
Purchaser file for safekeeping.
safekeeping.

Improvements/Architectural Control Committee. Purchaser

Purchaser's ImprovementS/Architectural Purchasermust
must receive
receive written approval
from
from the
the Association prior to
Association prior to the
the start of any
any such
such construction
construction oror instailation.
installation. Work
Work done
done without prior
without prior
approval is subject to
approval is to removal
removal at Purchaser's cost.
cost. Refer
Refer to
to the
the Declaration
Declaration for
for such
such further
further information.
information.

Purchaser Review of
Purchaser of Development
Development PlansPlans && Documents.
Documents. ItItisisPurchaser's
Purchaser'sororPurchaser's
Purchaser's consultants
consultanfs
responsibility to
responsibility to request and review all
ail soil information
information necessary to make an an informed
informed decision
decision about
about the
the
purchase of Purchaser's Unit. All
Aildata
dataand
andreports
reportsthat
thathave
havebeen
been prepared
preparedfor
forthis
thisdevelopment
developmentare
are on
on file.
file.

Postal Delivery/Mail
Delivery/Mali Boxes. Mail
Maildelivery
deliverywill
will be
be provided
provided at
at the
the location(s)
location(s) designated
designated by
by the Postal
and other governing agencies.
Service and .

Balconies. IfIfyou
youhave
havesmall
smailchildren
childrenor
orsmall
smailpets
pets you
you should
should take appropriate precautions when
when they
they
are on the Unit's
Unit's balcony.
balcony.

Easements. The
Easements. The project
projectand
and the
theUnits
Unitstherein
therein are
are encumbered
encumbered by
by easements
easements for
forpublic
public facilities,
facilities,
drainage and other purposes.

Seller's
Seiler's Reserved
Reserved Right
Right to
to Marketinq Strategy. Seller reserves
Marketing Strategy. reserves the right
right to
to implement
implement anyany legal
legal
marketing program as deemed necessary
necessary toto market
market Units
Units within this project. This
This includes,
includes, but
but is
is not
not limited
to, the use of model Units,
Units, signs, flags,
flags, banners,
banners, special
special on-site
on-site events,
events, media
media advertising,
advertising, modifications
modifications of of
model and production Units, etc. Seller
Selleralso
alsoreserves
reservesthe
theright
rightto
to price.Units
priceUnitsatatthe
the current
currentmarket
marketvalue
value in
in an
an
effort to sell
seil Units. There
Thereare
areother
othermarketing
marketingstrategies
strategies and
and incentive
incentive plans
plans not
not noted
noted herein which
which Seiler
Seller
reserves the right to implement or discontinue. Purchaser
reserves the Purchaser hereby
hereby acknowledges
acknowledges Seller's
Seiler's rights
rights as stated
stated
above. . .

i'
Sound. ItItisisthe
the nature
natureof
ofmulti-family
mUlti-familyproperties
properties (of(ofwhich
which this
this Condominium
Condominiumisisaapart)part) that
that dwelling
dwelling
Units are built in close proximity
proximity to
to one
one another
another(resulting
(resulting in
in sharing
sharingofofcommon
commonwalls,
wails,floors
floorsand
andceilings)
ceilings)and
and
noise is frequently audible from one Unit Unit to
to the
the next
next no
no matter
matter how how much sound
sound proofing
proofing is is attempted.
attempted. ItItisis
therefore mandatory, for for the mutual
mutual interest
interestand
and protection
protection ofof all
ail Owners,
Owners, lessees
lessees and
and other
other Occupants within
within
Condominium, to
the Condominium, to recognize
recognize that
thatacoustical
acousticalprivacy
privacy is achieved only through
through understanding
understandingand and compliance

xix
with certain
certain limitations and restrictions.
restrictions. ItIt is
is recognized,
recognized, however,
however, that sound insulation from an adjacent
occupancy in a manner comparable
comparable to to aa single-family
single-family residence
residence is impossible
impossible to
to attain
attain and
and Purchaser
Purchaser hereby
acknowledges and
acknowledges and accepts
accepts that limitation.
limitation. Purchaser
Purchaser acknowledges
acknowledges that there will usually audio
usually be some aUdio
awareness of
awareness of one's
one's neighbors,
neighbors, depending
dependinguponuponthe
thesituation.
situation. Additionally,
Additionally,all
allfumiture
fumitureparts
partsinincontact
contact with
with the
floor should
floor should have
have rubber
rubbercàstors
castorsor
orfelt
feltpads
padstotominimize
minimizenoise
noiseandandvibration
Vibration attributable
attributableto
tomoving
moving furniture
furniture as
well as scratching ofof finishes.

Settlement/Cracking.
SettlemenUCracking. Purchaser
Purchaseracknowledges
acknowledgesand andagrees
agreesthatthat no
no building is constructed completely
completely
level, and as such, there
there may
may exist
exist certain
certain deviations
deviations in
in the
the floors
floors and
and ceilings
ceilings of
ofthe
theCondominium
CondominiumUnits,
Units,
settlement and cracking, and
and other
other conditions
conditions which
which do
do not
not materially
materially affect
affect the
the intended
intended use
useof
ofthe
the Unit.
Unit.

Security.
Securitv. The
The Association
Association may,
may, but
butshall
shall not
not bebe required,
required, from time to
to time,
time, to
to provide
provide measures
measures or
take actions
take actions which
which directly
directly or
or indirectly
indirectly improve
improve safetysafety on onthetheCondominium;
Condominium;however,
however, Purchaser
Purchaser
acknowledges and agrees that the Association is is not a provider of security and shall have no duty to to proVide
provide
security on the Condominium. ItItshall shall be
be the
the responsibility
responsibility of of Purchaser
Purchaser to protect
protect his
his or
or her
her person and Unit
and all responsibility to provide
provide such
such security
security shall
shall lie
lie solely
solely with
with Purchaser.
Purchaser. Neither
NeitherSeller
Sellernor
northe
the Association
Association
shall be held
held liable
liable for
for any
any loss
loss or
or damage
damage by by reason
reason of of failure
failure to
to provide
provideadequate
adequate security
security or ineffectiveness
ineffectiveness
of safety measures undertaken.

Severe Weather
Weather Conditions.
Conditions. Although
Althoughyour
yourUnit
Unitand
andthe
theCondominium
Condominiumas as aa whole
whole has
has been built
builtwith
with
good quality
good standard components
quality standard components and
and is weather
weather proofed, during severe weather conditions
proofed, during you may
conditions you
experience minor leaks around sliding and pocket doors,
doors, windows
windows and
and roof
roof vents.
vents. These
These are
are acts
acts of
of nature .
for which the Seller will not be responsible.

Use Restrictions.
Restrictions, The
The Declaration
Declaration contains
contains numerous
numerous use
use restrictions.
restrictions. You
Youshould
shouldreview
reviewall
all of
ofthe
the
use restrictions carefully.

Title. The
Fee Title. The way
way you
you acquire
acquire fee
fee title
title to the Unit may have
have aa legal
legal impact,
impact, including
including tax
tax and
and estate
estate
planning consequences. NoNosalesperson
salespersonisisauthorized
authorizedtotoadvise
adviseyou
you or
orhow
howyouyoushould
shouldhold
holdlegal
legaltitle.
title.

Rental Disclosure. In
Rental In accordance
accordancewithwithSection
Section66herein,
herein, the
the developer
developermay
maynot
notengage
engageinin aa program
program
of leasing
leasing until an amendment
until an amendment is is filed
filed pursuant to rule
pursuant to 61B-18.008(4),
rule 61 F.A.C. The Units
B-18.008(4), FAC. Units may
may be be used,
used,
however, for use and occupancy by employees or other invitees of "corporate"
however, Owners on
'corporate" Owners onaarotation
rotation basis.
basis.

Notice of
Notice of Access'to
Access'to Database
Database Regarding
Regarding thethe Location
Locationof ofSex
SexOffender.
Offender. The Florida Department of
Law Enforcement
Enforcement ("FDLE")
("FDLE") maintains
maintainsfor
forpublic
publicaccess
accessaadatabase
databaseofofthethelocation
locationof
ofsexual
sexualpredators
predators and
and sex
sex
offenders.
offenders. The
The database
database isis updated
updated regularly
regUlarly and
and is
is aa source
source ofof information
information about
about the
the presence
presence of of these
these
individuals in
individuals in any
any community.
community. FDLE
FDLE hashas established
established a toll-free number that allows the public public to request
information about sexual predators and sex sex offenders
offenders living
living in
in their
their communities
communities and
and around
around the
the state.
state.
Report
Report of Qualified
Qualified Architect
Architect ororEngineer. Purchaser agrees
Engineer. Purchaser agrees and
and acknowledges
acknowledges that the party party
preparing the Report
Report of
of the Qualified
Qualified Architect
ArchitectororEngineer
Engineerfound
foundininExhibit
Exhibit88of
ofthe
theProspectus
Prospectusisisnot
notaffiliated
affiliated
with Seller in any fashion,
fashion, and is a third
third party,
party, independent contractor employed by Seller to furnish
Sellerto furnish the
the Report
Report
as required by the Florida Condominium
Condominium Act. Act. Purchaser
Purchaserisisadvised
advisedtotoreview
reviewthe
thereport
reportcarefully,
carefully,including
includingallall
disclaimers set forth therein.
therein;
Non-Conforming Use
Non-Conforming Use Status
Status The Thecondominium
condominiumbuilding
buildingmay
may be
be considered
considered aa non-conforming
non-conforming use
under the current
current zoning
zoning codes
codes for the City of St. Petersburg.
Petersburg. This This means
means that
thatififthe
thebuilding
building structure
structure is is
substantially destroyed (more
(more than
than 50%
50% ofof the
the appraised
appraised value)
value) that
that the building may
may notnot be
be able to be rebuilt
to its current configuration (size, height
height and density) without
without further
further approval ofof the City. This
Thiscondition
conditionexists
exists
on many
on many if not the majority
majority of all
all buildings.
buildings. TheThecondition
condition isis created
created when
when after
after aa building
building isis built,
built, the
the
municipality changes the
municipality changes the criteria forfor building (downzones), The
building (downzones) The approval
approval of of the
the City to rebuild
rebuild is is not
guaranteed, it would
would entail
entail aa variance
variance application by by the
the Association.
Association. Of course the likelihood of of the property
being destroyed is very remote.

xx
 ( (

Title Exceptions:

Easement in
Easement in favor of Progress
Progress Energy
Energy contained in instrument recorded
contained in recorded in ·Official
Official Records Book
Book
1370, Page
1370, Page 136,
136, of the Public Records of Pinellas County,
County, Florida.
Florida.
50
50' Private
Private Access
AccessStrip
Stripalong
alongthe
theWest
Westside
sideof
ofLot
Lot11for
foraccess,
access, egress,
egress, ingress,
ingress,light,
light,air,
air, and
and view
view
recorded in Official Records
Records Book
Book5039,
5039,page
page1522,
1522,between
betweenLot Lot11of
ofMaximo
Maximo South
South Gate Manor
Manor according to
the plat thereof
thereof as recorded
recorded in
in Plat
Plat Book 55, Page
Book 55, Page 89,
89, of
of the
the Public
Public Records
Records of
ofPinellas
Pinellas County,
County, Florida
Florida and
and
34th
th
34 Street South (U.S. 19).
19).
Restrictions, conditions,
conditions, reservations,
reservations, and
and other
othermatters
matterscontained
containedonon the
the Plat
Plat of South Gate
of Maximo South Gate
Manor, as recorded in Plat
Plat Book
Book 55,
55, Page
Page 89,
89, Public
Public Records
Records of
of Pinellas
Pinellas County,
County, Florida.
Florida.

20. Copies of
of Documents Included
Included as
as Schedules.

Copies of the following,

following, included as Schedules
includedas Schedules to
to this
this Prospectus:
Prospectus:

a. Schedule I - Declaration
Schedule 1- DeclarationofofCondominium
Condominium
b. Schedule 2- Number
Schedule 2- Numberofof
Units,
Units,number
numberofofBedrooms/Bathrooms
Bedrooms/Bathrooms in
in Each
Each Unit,
Unit,
Unit number and Undivided lntthrest
Interest
c. Schedule3-
Schedule 3- Operating Budget for the Condominium Property
Estimated Operating
d. Schedule4-
Schedule 4- Form of Purchase Agreement Utilized in the Sale of Condominium
Form Condominium
Units
e. ScheduleS-
Schedule 5- Esdrow
Escrow Agreement
Agreement Establishing Escrow Account
Establishing Escrow Account Between
Between
Developer and Escrow Agent
f. Schedule 6-
Schedule 6- Form of
of Receipt
Receipt for
for Condominium
Condominium Documents
Documents Utilized
Utilized in the Sale
Sale of
of
Condominium Units
g. Schedule7-
Schedule 7- and RegUlations
Initial Rules and Regulations .

h.
h Schedule8-
Schedule 8- Conversion
Conversion Inspection
Inspection Report,
Report, Termite
Termite Inspection
Inspection Report,
Report, and
and
Certificate of
of Occupancy
Occupancy
i. Schedule 9-
Schedule .9- Warranty Deed/Developer's
Deed/Developer's Interest
Interest in
in Land
Land
Schedule 10- Frequently
Schedule 10- FrequentlyAsked
AskedQuestions
Questions and
and Answers
AnsWers

"

xxi
xxi