\ Regency Park at Lake Mary ) Condominium Association, Inc.

Declaration of Condominium

First Amendment to Declaration - First Eleven Pages of Document

I. Introduction and Submission Page 1 1.1 The Land 1 1.2 Submission Statement I 1.3 Name I

2. Definitions 1 2.1 Act 1 2.2 Articles of Incorporation I 2.3 Assessment I 2.4 Association I 2.5 Association Property 2 2.6 Board of Directors 2 2.7 Building 2 2.8 By-Laws 2 2.9 Common Elements 2

) 2.10 Common Expenses 2 2.11 Common Surplus 2 2.12 Community 2 2.13 Condominium Parcel 2 2.14 Condominium Property 2 2.15 County 2 2.16 Declaration of Condominium 3 2.17 Developer 3 2.18 Dispute 3 2.19 Division 3 2.20 First Mortgagee 3 2.21 Improvements 3 2.22 Institutional First Mortgagee 3 2.23 Limited Common Elements 3 2.24 Master Association 3 2.25 Master Covenants 4 2.26 Primary Institutional I". Mortgagee 4 2.27 Special Assessment 4 2.28 Unit 4 2.29 Unit Owner 4 2.30 Voting Interest 4

' 3. Description of Condominium 4 ) 3.1 Identification of Units 4

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3.2 Unit Boundaries 4 ) 3 .3 Limited Common Elements 5

(a) Patios, Balconies & Terraces 5 (b) Miscellaneous Areas, Equipment 6 ( c) Parking Spaces 6 (d) Cooling Towers & Other Equipment 6 ( e) Storage Spaces 6 (t) Other 6 3 .4 Easements - All 6, 7 & 8

4. Restraint Upon Separation & Partition of Common Elements 9

5. Ownership of Common Elements & Common Surplus & Share of Common Expenses 9

5.1 Percentage Ownership & Shares 9 5.2 Voting 9

6. Amendments 9 6.1 By the Association 9 6.2 By the Developer IO 6.3 Execution and Recording 10 6.4 Proviso Regarding Material Amendments 10 6.5 Mortgagee's Consent 11

) 7. Maintenance & Repairs 11

7.1 Units 11 7.2 Common & Limited Common Elements 11 7.3 Specific Unit Owner Responsibility 11

8. Additions, Alterations or Improvements by the Association 11

9. Additions, Alterations or Improvements by Unit Owner 12 9 .1 Common Elements 12 9 .2 Additions, Alterations, Imp. by Developer 12 9 .3 Restrictions 12

10. Changes in Developer-Owned Units 12

11. Operation of the Condominium by the Association; Powers & Duties 13

I I .I Powers & Duties 13 11.2 Limitations Upon Liability of Association 15 11.3 Restraint Upon Assignment of Shares in Assets 15 11.4 Approval or Disapproval of Matters 15

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\ 11.5 Acts of the Association 15 / 11.6 Effects on Developer 15

12. Determination of Common Expenses & Fixing of Assessments Therefore 15

13. Collection of Assessments 16 13 .1 Liability for Assessments 16 13 .2 Default in Payment of Assessments 16 13.3 Notice oflntention to Foreclose Lien 17 13.4 Appointment of Receiver to Collect Rental 17 13.5 First Mortgagees 17 13 .6 Developer's Guarantee & Liability

for Assessments 18 13.7 Certificate of Unpaid Assessments 18 13. 8 Installments 18 13.9 Application of Payments 18

14. Insurance 18 14.1 Purchase, Custody & Payment 18 14.2 Coverage 19 14.3 Additional Provisions 20

) 14.4 Premiums 21 14.5 Insurance Trustee: Share of Proceeds 21 14.6 Distribution of Proceeds 21 14. 7 Association as Agent 22 14.8 Unit Owners' Personal Coverage 22 14.9 Benefit of Mortgagees 22 14. l 0 Presumption as to Damaged Property 22

15. Reconstruction or Repair After Fire or Other Casualty 22 15 .1 Determination to Reconstruct or Repair 22 15.2 Plans and Specifications 23 15.3 Special Responsibility 23 15 .4 Estimate of Costs 23

16. Condemnation 25 16.1 Deposit of Awards with Ins. Trustee 25 16.2 Determination Whether to Continue Condo. 25 16.3 Distribution of Funds 25 16.4 Units Reduced but Habitable 25 16.5 Units Made Uninhabitable 26 16.6 Taking of Common Elements 27 16. 7 Amendment of Declaration 27 16.8 Discretion of Board 27

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17. Occupancy and Use Restrictions 28 · 17.l Occupancy 28 17 .2 Children 28 17.3 Pets 28 17.4 Alterations 29 17.5 Use of Common Elements 29 17. 6 Nuisances 29 17.7 No Improper Uses 29 17.8 Floor Coverings 29 17.9 Exterior Improvements; Landscaping 29 17.10 Relief by Association 30 17.11 Effect on Developer; Association 30 17 .12 Cumulative with Restrictions of Master Covenants 30 17.13 Use of Master Association Property

and the Common Properties 30

18. Selling, Mortgaging and Leasing of Units 30 18.1 Sales 30 18.2 Leases 30 18.3 No Severance of Ownership 30

) 18.4 Gifts and Devises, etc. 30 18.5 Developer Leasing 31

19. Compliance and Default 31 19.1 Mandatory Non-binding Arbitration of Disputes 31 19.2 Negligence 31 19.3 Compliance 31 19.4 Costs or Attorneys' Fees 32 19.5 No Waiver of Rights 32

20. Termination of Condominium 32

21. Additional Rights of Mortgagees & Others 32 21.1 Availability of Association Documents 32 21.2 Notices 32 21.3 Additional Rights 33

22. Covenant Running With the Land 33

23. The Master Association 33

24. Additional Provisions 33

) 24.l Notices 33

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Additional Provisions Continued;

24.2 Interpretation 33 24.3 Mortgagees 34 24.4 Exhibits 34 24.5 Signature of President & Secretary 34 24.6 Governing Law 34 24. 7 Severability 34 24.8 Waiver 34 24.9 Ratification 34 24.10 Execution of Documents; Attorney-in-Fact 34 24.11 Gender, Plurality 35 24 .12 Captions 3 5 24.13 Disclaimer of Warranties 35

25. Joinder & Consent of Mortgagee 37

26. Legal Description, Floor Plans, Survey Information and Building Locations Next 140 pages

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FIRST AMENDMENT TO DECLARATION OF CONDOMINIUM

FOR REGENCY PARK AT LAKi:MARY. A CONDOMINIUM

WHEREAS, the Declaration of Condominium for Regency Park at Lake Macy, a Condominium (the «Dec1aration"), was filed on November 30, 2005, recorded in Officia1 Records Book 6016, at Pages I through 214, of the Public Records of Seminole County, Florida;

WHEREAS, 6.2 of the Declaration provides that the during the time the Developer has the right to elect a majority of the Board of Directors of the Association, the Developer may amend the Declaration, the Articles of Incorporation or the By-Laws of the Association or the rules and regulations of the Association, without the vote or consent of Unit Owners or the Association, except for a "material amendment"; and

WHEREAS, the Developer still wishes to correct a scrivener's error in the identification of the Units and thereby amend the Declaration as set forth herein.

NOW 1 TliEREFORE, the Declaration is amended as hereinafter provided.

\_ Survey - Plot Plan - Floor Plans. The drawings attached to the Declaration as Exhibit 2 properly depict the Condominium but contain some inconsistencies with respect to the identification of the Unit. Therefore, pages 120 through 123, and pages 130, 132, 133, and 134 to Exhibit 2. as attached to the Declaration, are hereby deleted in their entirety and replaced with pages 120 through 123, and pages 130, 132, 133, and 134 to Exhibit 2 attached hereto, which depicts the exact same Condominium, but correctly identifies the Units depicted thereon.

2. Schedule of Percentage Share of Ownership. Exhibit 3. as attached to the Declaration, is hereby deleted in its entirety and replace with Exhibit 3 attached hereto, which depicts the exact same Condominium, but correctly identifies the Percentage Shares by Unit Type.

3. Capitalized Terms. Capitalized TenTis not defined herein shall have the meaning ascribed to them in the Declaration.

All other tenns and provisions of the Declaration not specifically amended or altered hereby shall continue in fu!I force and effect.

IN WITNESS WHEREOF, the Developer h,ij,jia};_sed these presents to be signed In its name on i alf by the appropriate individuals on thi~day of March 2006.

STATE OF FWRIDA

COUNTY OF MIAMI-DADE

LAKE MARY RESIDENCES, LLC, a Florida limited liability company

By:~ P A.LeSter:Manager

BEFORE ME, personally appeared Paul A. Lester, as Manager of Lake Mary Reside"ilceS. LLC, a Florida limited liability co1npany, who after being fir.St ly swam, deposes and states that he has executed the foregoing on behalf of the I' it liability com any. He presented __________ as identification, or is p, rsona I

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The Reserve at Lake Mary, a Condominium Surveyor's Notes and Certificate

SURVEYOR'S NOTES: 1- LANDS SHOWN HEREON WC:RE NOT ABSTRACTED FOR EASEMENTS ANO/OR RIGHTS-OF-WAY

OF RECORD, EXCEPT AS SHOWN HEREON, If AHY. 2- NO ATTEMPT WAS MADE BY THIS FIRM TO LOCATE: UNDERGROUND UTILITIES, FOOTINGS or

BUILDINGS, WALLS OR FENCES, EXCEPT AS SHOWN HEREON, IF ANY. J- THERE ARE NO ENCROACHMENTS EllHER WAY ACROSS PROPERTY LINES, EXCEPT AS

SHOVIN HEREON, IF ANY. • 4- THE NORTH ARROW AND BEARING SHOWN HEREON ARE BASED ON AN ASsti~ED

BEARING OF N 00'09'\9" E ALONG THE EASTERLY RIGHT- OF-WAY LINE Of LAKE EMMA ROAD AND ALL OTHER BEARINGS ARE RELATIVE THERETO

5- ELEVATIONS SHOWN HEREON IF ANY ARE RELATIVE TO THE NATIONAL GEODETIC VERTICAL OAnJM {1929 MEAN SEA LEVEL).

6- ftOOD ZONE DATA: TiilS S!T[ IS IN A FLOOD PRONE AREA, IT IS IN ZONE "AE", AN AREA OF HlO YEAR FLOODING AND ZONE ~x~, AN AREA OF MINIMAL FLOOO!NG, BASED ON FLOOD INSURANCE RATE MAP, PANEL NO. 120289-0130-E. DATED APRIL 17, 1995, SEMINOLE, COUNTY, FlORIDA.

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CERTIFICATE OF SURVEYOR:

THAT UNOERS!GNEO, BEING A PROFESSIONAL LAND Sll~VEYOR, DULY AUTHORIZED TO PRACTICE IN THE STATE or FLORIDA, DOES HEREBY CERTIFY THAT THE CONSTRUCTION OF THE IMPROVEMENTS WITHIN: The Reserve at Lake Mary, a Condominium AS SHOWN HEREON ARE SUBSTANTIALLY COMPLETEO SO THAT THE MAT£RIALS COMPRISING EXHIBIT M2~ OF THE OECLARATION OF' CONDOMINIUM. TOGETHER W!lH THE PROVISIONS OF THE OECLARA TION OESCRlBING THE CONDOMINIUM PROPERTY, IS AN ACCURATE REPRESENTATION OF THE LOCATION ANO OIMENSlONS or "IHE ll.4PROVEMENTS ANO SO THAT lliE IDENTIFICATION, LOCATION AND DIMENSIONS Of" THE" COMMON ELEMENTS ANO or EACH UNIT CAN BE DETERMINED FROM THESE MATERIALS.

THE UNIJERSIGNEO FURTHER CERTIFIES THAT ALL PLANNED IMPROVEMENTS, JNCLUOING, BUT NOT UMITEO re. LANOSCAPlfil'i, UTILITY SER\liCES ANO ACCESS TO THE UNITS ANO COMMON AREAS FACILITIES HA}'!"E}tEN SUBSTJ.H.TIALLY COMPLETED.

J. H. MA_Nuc'11f.lc.

DATED:~ ~~~fr~R~~ t,;~E~~::~~No. 2905 . -'";;'.t<~)F .. . STATE OF FLORIDA .- .,.,,,- - ---... ,_ -

> • -~x~,.:;~::_'..:'M': \•"'::::."~.,: • .!~~ M.-- -NOTES· ;·· •· 1-:v•~ .. ~: .• ,~- . ·.$ .. v.·~ 1) THIS CERTIF!CA TION IS ONLY FOR THE LANO AS SHOWN H_~£..O'. ~~~:.~).-.~-::;·.~~~::~?.~~~:~<-:?" ·~;';;; t:r .... ~-2) THIS IS NOT A CERTlf'ICA TE OF TITLE, ZONING, EASEMENlJ O~~.:r·· ~:- ·.-::~,t:t;,:;""~·-_.:,;_;:...-·· ~>

FREEDOM FOR ENCUMBRANCES. ·· ./'·"'.'1.-··"",.·~~~;~W°-:·· .;: .•• ·~ 3) THIS CERTIFICATE rs NOT VALID WITHOUT THE SIGNATUR~A~i'r,~~:·~F.~~;~.;i.:.~;.~::::­

ORIG!NAL RAISED SEAL Of' A f'l.ORIOA LICENSED SURVE~~~f.'0-~Ail!P~;·~°{-('0/~°"._;.:.;~

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·The Reserve at Lake Mary, a Condominium Units and Buildings numbers, First Floor

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7400 rucAA: OEllD llRIV£. <Rm», fl.Ol!llA 32819 The Reserve al Lake Marv. a Condomirlum ~i ---•n "!B.:MMA;rucv, INc.

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The Reserve at Lake Mary, a Condominium Units and Buildings numbers, First Floor

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The Reserve at Lake Marv. a Condomlnlwn 7-llXI :;ooAR BEllD OR!W. Otll.AHOO, flDllQI. JJS19

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The Reserve at Lake Mary, a Condominium Units and Buildings numpers, Second and Third Floor

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The Reserve at Lake Mary, a Condominium Summary Table No. 5

Building No. UnltNo. UnltType I Doscriptlon Building No. UnltNo. Unit Type lllscripl:ion

100 PARAllSE 3BECROOM-28A. TI-R:IOM 100 PAP.A.(]85: 3BEr.roQM.2BA nROCM 102 PARAOOE 3ea:RQOM.2BA'JtRJOM 102 PARAOSE 3BEI:R)OM.2BA 11-R)CM

'" PAAAOSf 38ED<:OQM.28A lffiOOM 104 PARA.llSE 3BB:R'JOM.2BA 1lflOCM 718 '" PAAAOSE 38ernooM-28Allf!OOM 2.180 106 PAP.A.DSE. 3BEI:ROC».+:28AllRJCl'.1 1201 200 PAPADSE 3BECROOM-28A TtR'.lOM 124) 200 PARA!lSE 3BB:'f\(}().f.2BA. TI-RX.M

202 PAPA""' 31EROOM-28A n;R:JOM 202 PARAllSE . 3BlmXM2BA lff<00',1 204 PAAAt:ISE 3BfmooM.2BA lliROOM

206 PAAAOSE 3BB:'ROQM.2BATHROOM 204 PAAAOSE 3ll!mJOM-2BA lff<00',1

100 I SAM>OOLLAR 2BS:ROQM.f8ATHR'JOM 206 PARAOSE 3B8::RXlM-28A n-rocM

"'' SANOOOUAR 2B8:ft:lOM-18A.'ll'mOM 100 RA""30 2BECROQM.20AllffX:M 714 '" SAND DOLLAR 2BB:ROOM-fBATI-mOM 102 SEA BREEZE 1Bs:oooM-fBAnma.t r211 106 SANDOOUAR 28!iROOM-18AnmoM 104 RAMlrn 2BErnQOM.2BA 1rRXlM

200 SAN:>OOUAR 2BB:ROOM-18AnmoM

"" SEA BREElE · 1BEJ:ROCM.1BA11-AXM 202 SAMJOOUAR 2Bal'\OOM-1BA1lR'.lOM

106 SEA BR!EZE 1BB:RJCM.18A TI-R:>Cf.l 204 SAl'DOOUAR 28B:AOOM-1 BATHROOM

110 RA""30 2BB:RJCM.26AlmJOM 2'8 SAtDOOUAR 28e:R00M-lBATimOM

100 PARAOSE 38~M-28ATHR:>OM 112 SEA BR!EZE 1BE!RJOM.1BA~

102 PARAllSE 388:ROOM-28AnmoM 114 SfA BREEZE 1Bs:ROCJM.1BAllfOJM

'" PARADSe 3BB::flOOM-2BATimOM 200 RAM>llO 2Bs:roJM.2BA.:n-m<:fd 2548 108 PARAOSE 38a:ROOM-2E!Al}ft)OM 2592 202 SEA BREEZE 1BE(R)()M.18A 'JlRXl.t ( 200 PARAOSE 3Bs:ROOM-28A TJ.roOM [25] 204 RA""30 2Be:ROOM-28A TlflXM

202 PAAADSE 38B::flOOM-2SA llf\OOM 206 SEA BREEZE 1B~18AJIR)CM 204 PAPAOSE 38s:RCJOM.2BA Tl-ROOM 206 S8\ BR!EZE 1B~10AllR)Q\1

~· PARAllSE 3Bs::ROOM-28A lHROOM 210 Fl.A""'O 2Ba::ROQM.28AllRXJd

100 """"-""" :zaBKX>M.28ATIR>OM AA""30 2BECROQM.2BA 11fl)CM 102 CORALAE8' 28ECMQM.2BA l}R)OM 212

'" OORALAE8' "'°"""""' THROOM 21< RA""30 2B~28A1KOOA

2.184 '" CORAL REI!' 2aa::ROQM.28A lliROOM 302 SEA BR!EZE 1BEl:R)QM.1BA 1l-R>a.1: [23] 201 OORALRE!l' 288:RO()M.28A TiiROOM "" S8\ BR!EZE 1BEO'UJM.164. ll-RXJ.1

200 OORALAE8' 2eemooM-2BA TliA:JOM "" S8\ BR!EZE 1BBRCJOM18Allft».i 202 OORALAE8' 2f38:ROOM.2BA THR:IOM 312 SEA BREEZE 1BCffiCOM.1BATHro.I ,.. OORAL""' 2BECRIJOM.2BA THROOM

IEXHl~I''" "?" om u•m~N• " ~J.H.MANuCY,INC - !~

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--~ - ·--~- - 733 5tCllEl' IW!8Qll tJJ£. UKE MAAY. fl!llllllA 32746 ---N • -

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Building No. Unit No. 101

·103

2553 105 .(30) 10r ,.,,

'°' 205

207

101

103

105

107 109 ,,, 113 ,,, "'' 2549 "" [31J 205

207 209 ,,, ,.,, 215

303

"" 309 313

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The Reserve at Lake Mary,. a Condominium Summary Table No. 7

Bu/Jdfng No. IJnltN'o. """- Dcl01oriptlon

'" -GE 2ElECROOM-2BA. TlflOOM lkn1 Typa Description

SANJ OOUAR 2BECROOM-1BAllflOOM "' "'""''"- 113ECROOM.1BAT1-AOOM

SAt-.ODCUAR 2BB:ROOM-16ATiflOOM '" MAAGE 2SiCJROOM.2BP.TH'IOOM

"' =- 1B~1eATH'IOOM

"" COZLWS. 1B~IBATH'iCOM ~/'OOCUAR 2BB:J«X)M.1BA 1lflOOM

SA!IDCOUAR 28EOOOOM'.1BATh'OOOM "' ""'"' 2Ba::R:X:JM.2BA. TI-RXIM

"' COZ<Ma. 1B~OOM.leATl-ROOM

"' ""'"" 2BB:.'ROClM-2BA Tl-ROOM SAIDOOUAR 28s::ROOM-10AJHROOM

SAl'l>OOlLAR 28EmQOM-,8A TI-IA:JOM 2533 '" MAAG6 ~"''"""""'"'"""'" [32J "" oozu,e. 1B9'.R00M:1BATI-AXlM

'" -·· 2EIECROOM-2B4. TtflOOM SAr-D CXlli.AR 2BEOROOM-1BA n-Rcx)M SAt>D COLLAR 2BBR>QM-1BAniROOM '" =- 1Ba:J'IOOll.1.1BA.~

"' ="""- 1SE:ROOM-1BA THROOM

'" """'°" """""""""'""""" '" COZ<Ma. 1BECl'!OQM.1BA Tl-RXlM

FtA"""" ZERCOM-2BA 1HROOM

SEABREEZE 1eamoM-1BATHROOM

FLAMN3o 2BEOOOOM-2BA THROOM "' MRAOE 2Ele::RIXJM.2BA THROOM

= """- 1Ba::ROOM-1BA.niROOM

'" =- 1BB:A:XlM-1BATI-IFIOOM SEA BREEZE 18EaIDQM-18AlliROOM

SEABREEZE 1sa:moM-18ATHROOM "' """""- IBELROOr.ll-IBA 11-IROOM

'" =- 1~1BATl-RXIM

"' ""'""""' 1Bet:f<OOM.1BA lH'IOOM FtAMN:lO • 28a:ftQOM-2BA THAGOM

™""m lBEDROOM-1BA'lttROOM "' "'"""" 20~2BAT1-FOOM

"' S<ASCAF£ 1B~18A'n-AXlM

'" "'"""'" 2SSJFIOOM.2BA 1H'IOOM

"" si.NJBA.R 2SED'IOOM-2BA 1'HACOM

FtAMmO 2BlilROOM-2BA 1HROOM

FtA"""° 2BEDROOM-2BA THROOM

™"""'' 1Bm'.lOM-1~TffiOOM "' '"""'"'"' 1 BB::PJ:XlM.1BA TI-R:lOM

'" "'"""" 2Ele::ROOM-28A T1-flOOM 2521 "' SGASCAFE 1BB:R:X>M.1BA. t1-ROCM FtAo.tNOO 2BEmOOM-2BA TI-NOOM (33] '" SG<SCAF£ 1Ba::rAOC)M. fBA "T1"ROCl.\I

'" """""'" .aaS::RooM.2BA. TI-AOOM

'" S&\SCAF'e 1Ba:R:ll:lM-1BA TI-ROOM

SEABRS:ZE 18fmOOM.18A11flOOM S&\BR>m 188JROOM-1BA1lfIDOM

FtA""30 2BIDROOM-2SA llflOOM ''" "'"""'" · 2BEDRccM-2BA.ii-RooM ,,, """"""" 2BEl:RQOM.2BA TI-ROOIVI

"' SEABCAF£ lea:AOOM<IBA TI-ROOM

'" """""" :zaa::RCOM.2a,.. Tlfl:>ONI

SEAllREEZE 1BBJROOM-16AllflOOM

FtA""30 288'.lROOM-2SA 11-flOOM SEA BREEZE 18iDROOM-18A11iROOM "" '''"'''"' IBB:lRCOM-1 BA"ll-ROOM

"'' """""'" 28EOROOM.2BA, '1l-R)OM

30i "'"""'" 2B~2BA 11-ff:K:XVI SEA BREEZE 18BlmQM.18AlHROOM

SEA.BREEZE 1B8JROOM.1BA1l-IOOOM "" "'"""'" ~ECR0c:M-2BA '1l-AXlM

SEA. BRfEZE 188JROOM-1BATl-flOOM '" .SAl>l'.IBAR """""""""'"""""'

~!1J.;£NUCY,INC. Aili~ 1 ... ~::at==--The Reserve at Lake Mary, a Condominium

, 1ll ~t HAAOOR lAH!: UXE /.UllV, ii.CADA Wolli

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8ulllflng No. Unit No.

"' "' 2513 "' [34) "' "' .,, '" "' "' '" 2501 "' [33) "' "' "' "' '" "' '" "' '" "' '" 112

"' 25o4. '" ['61 '" "' "' "' "' "' "' "' "' "' "'

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The Reserve at Lake Mary, a Condominium Summary Table No. 8

Unit l'ypa Oo11crlirtlon PAlMSREEZE IBBJ~M-1E1A.TH'IOOM

PALM BP.a!ZE IBBJROOM-1BA.THROOM .

PALMBRa:ZE I BEDROOM-I BA 11flOOM

~UdeREEZE 18mR9QM-1!3>-~.0M PALMBAS:ZE tBSlROOM-1 BA Tl-flOOM

PAUABREEZE 1B~M-18ATHROOM PAu.'laREEZE IBBJROOM.18ATHROOM PALM BREEZE tSSlROOM-1BATHROOM

-GE 2BEDROOM-2eA~

MRAGE 2BEOA::lOM-2eA THROOM -·· 2BECFICOM-2!JA TMROOM

MRAGE 2BfiDROOM.2aA TH.ROOM

""'"'" 2SECIROOM-2BATHROOM MRAGE 2Ela:::A:>OM-2EIA Tl-!ROQM ~GE 2BEIROOM.2SATiiROOM -·· 28EDBOOM-2BA7HROOM -·· 2aEDROOM-21:1A THROOM

• C02UMa. 1ea:mcoM-1BATiiROOM

MIRAGE 2SECIROOM-2BA~ .. ,,....,_ tSECROOM-tBA~ =- 1 amf{OOM.1 BA 'THftOOM -·· 2aalflOOM.2BA11iROOM

co"'"" 1BECRClOM-1BATHRoOM MAAGE 2aa:IROOM<2BA THR:OOM ....... 2~M.2BA'niROOM

COZWE. tBBJROOM-1BA1HROOM .MRAGE 2SEDROOM.2BA 1HROOM

=""'- 1BEOROCJM.18A TttR:OOM

=- .1ee:lROOM-1BATHROOM ........ 4BEDR00f.l.2BA"THROOM

=""'- 1BEDFllOOM-1BA"THROOM MRAGE 2BE'IRCIOM-2BA'Tl'.AOOM com.a taaJROOM.1BA"11"1ROOM cozwa. 1SECROOM-tBATHROdM GOZLMB. 1eaJFIOOM-1BA~M

cozwa 188'.JROOM. tBA "THROOM

'J.H. MANUCY, rNC. ..... "'=1J.."'L4¥Ji~m

... ~.:ft-

Bullcfing No, Unff:No. Unit Type Cle&crlptlon 100 M™OE 2SEDRQOM.2BA 1lflQOM

"' -·· """""°"''"'"""'"" . 2508 "" -·· 2B8JROOM.2M THR.OOM

[37] '" -·· 28EDROOM-2aATI-flOOM

"' -·· 2SCDROOM-2BA ™ROOM

'" -·· 2BB:lROOM-2BA fHRooM

'" Ml~GE 2B~SA1HROOM

. 206 -·· """""""'"'""""" '" - MIRAGE 2SmROOM-28A 11-ROOM

'" =- 1BaJROOM.1BA'THROo'M

'" MRAGE 2BfOROOM.2BAllflOOM ... COZUMa. 1BBlROCl\l-IBA~

"' COZUMO. 1Ba:R>ClM-18ATHFtOOM

"' -·· :zeaJROOM.28A nflOOM

"' =- 1BEDR(J0M.taAnROONI ,,. -·· 2BEDROOM-28A 1lflQOM

251B '"' -·· 28E)RCC)M.28A l1i'IOOM [:ia] • 2a2 COZUMB.. .1Be:JROOM-18Ailff:rOM

"' -·· 2BEDROOM-2BA ltROOM

"' COZ""3_ 1 BB:lROOM-1 BA. 'TI-ROOM

"" COZ"'5. 1BEOROOM-1.8AnRJOM

'" -GE 2BSJROOM.2SA~OM

212 COZUMEi. 1SBJROOM.1 BA l'l-ROIJM;

'" -·· 2BBJROOM.2EIA nflOOM

"' CGZUl.E. 1BBJROOM-18ATH'tOOM

"' i:oz-. 1 EIEDROOM-1BA TiflOOM 308 """""'- 1BaJROOM.1BAltAJOM

"' cozwa. 1SEDROOM-fBA'JH{OOM

'" SUNSET 3BEOROOM-2BA.TtflOOM

"' ""'ET 3BEDl\OOM.:lBA Tl-ROOM 10_4 SWSET 36SJROOM.2BA 1lflOOM

2520 ... """"' 3BB:.lROOM-2BA n-ROOM [39] "' SUNSET 3B~2BA.11-RCOM

"' SUNSET 3B~M-2BA'TlflOOM

"" """"' 3SSJROOM-26A Tl-ROOM

"' ""'"" 3aeD'iOOM-28A TH'IOOM

!~//~ ,..,,,,,,.,......

The Reserve at Lake ~ary, a Condominium 7ll ~I ~AReoll l.Allr, 1)11( lllARV, FLOllO~ J2H5

(<1- .. ncc.•u...._..,., __ "'"""""""'""-""'•"".....,. ... -....,v....,.,..._ "'"'""....,.. .. _., __ 1..,,..,- .. ,,.__1.,....,.. .. ,..,_

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The Reserve at Lake Mary, a Condominium Summary Table No. 9

Bulldlng No. Unit No. Unit Type Description

"' PALMBRE&E 1BEDROOM·1BA THROOM

"' PALM BREEZE 18EOROOM-18A THROOM

252< >04 PALM BREEZE 1BECIROOM-18A THROOM

[40] "" PALM BREEZE 18EOROOM-18ATHROOM

200 PALM BREEZE 18EOA.OOM·1BATHROOM

202 PALM BREEZE IBEDROOM-tBATlflOOM

"' PALM BREEZE 1BEOROOM-18ATHROOM

"" PALM BREEZE 18EOROOM-1BA TiiROOM

"' SANDCASTLE 26fDROOM-1BA TtlROOM

"' 81'.NDCASTLE 2BEOROOM-16ATHROOM 2532 '" SANO CASTLE 2BEDROOM-1BATHROOM {41) ,,. SANO CASTLE 28ECROOM-1BA 1'1-flOOM

200 SANDCASTLE 2BEOROOM-18ATHROOM 202 SANOCA.Sne 2B~OOM-1 BA l1-1R90M

"' SANDCASTLE 2BEOROOM-1BA lliROOM

206 SANOCASTL.E 2BEL'ROOM-16AlliROOM

"' SEA SCAFE 113EDROOM·18A TI-IROOM

'" SANOO<R 213EOOOOM-2BATHR0oM

'" SEASCAPE 1BEDROOM-1 BA ll-!ROOM

'" SANOBAR 2BECROOM-2BA TH'RcioM

'" SANDBAR 2Bt:mOOM-2aA. THROOM

"' SEASCAPE. 113EDROOM-1BA.'THROCM

'" SA"'°"R 2Bl:DROOM-28A THROOM 709 "' SEASCAPE 1 BEOO.OOM-1SA l'tflOOM 1.421 '" SEA SCAFE IBEDRQOM-18A lHROOM

"' SA"""R 2BEOROOM-2SA lHROOM 205 SEASCAPE 18EDROOM-18A 11-IROOM

'" SA"'°"R 2BEIJROOM-28A THROOM

"" SAN:lSAR. 2BEDFIOOM-2BA THRo6M

2" SEASCAPE IBEDFtOOM-18ATHROOM

"' SMCSAR 2BEOROOM-28A 'l'HR:OOM

"' S<ASCAFE 1BEDFIOOM-18A THROOM

"°' SANDBAR 2BEDROCJM.28All-IROOM 307 SAi.mAR 2BEORQOM.2SA THROOM 309 SAtDEIAR 2SED~2BA THROOM

"' SAt>ClBAR :<8EOROOM-26A THROOM

EXHIBIT "2"

~ .. IS I 0 Ni

1 .l<\ ,J.H.MANUCv.,:.c::_ ~~O LMj™=- /1\e N '

_, The Reserve at Lake Mary, a Condomlrrum

'" SECR[t 11"'80!! lAHE, LAXE IUR'r, flOlllOJ. 371'15

i34 m--........ ,..,.,,...,..,...,_.__ . .,..,.."" ......... "'""""''..,..,,,. . ...,.,,..., .. ,,.,.llfUlm••-or"'""'''"'•''"'"""""~~.-,.,,.,.,.......,.,..._

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EXIIlBIT "3" TO DECLARATION OF REGENCY PARK AT LAKE MARY, A CONDOMINIUM

SCHEDULE OF PERCENTAGE SHARES OF OWNERSHIP OF COMMON ELEMENTS AND COMMON SURPLUS

AND OF SHARING OF COMMON EXPENSES BASED ON SQUARE FOOTAGE OF EACH UNIT

IN RELATION TO THE TOTAL SQUARE FOOTAGE OF ALL UNITS

UNIT TYPE PERCENT AGE SHARE

CORAL REEF 0 •"''"281585% SAND DOLLAR C) ,Ol)2129835%

FLAMINGO 0 ,01112273599% CALYPSO C),0&1653284% MIRAGE ~.Olll2310871%

COZUMEL Cl,001682569% PARADISE 0 .of)2683592 %

SUNSET o.e r58136% PALM BREEZE . o,o 682569% SANDCASTLE __ Q_.O 2100549%

SEASCAPE o, ... v1426989% SANDBAR () ,()112337494%

SEABREEZE <' ,C(l)l429652%

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5

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2.

This instrumerf pepam:I by, or wdcr the supervision of(and allcr ltC1'rding, retun to):

David Shear, Esq. Fi:ldstanc Lester Sheu & Dcnbcr& I.LP 201 Alhamlmi Ci1:1~ Suite 601

- IU!S£, ll.EllC lF ClRllJIJ Clll!l SEMIN.U Wiii'/ BK 06(1J6 PGS (l(l(IJ-021.\ CLERK'S I 2()(~5'-0b"t.ti.3 RECORDED 11/30/WJS oa.eci142 PM RECllRDINB FEES 1,820.S> T£tDftDED BY t holdtn

Coral Gables, Florida.33-13'4-------------

~served for Clerk of Court)

CERTIFI Et COPY, MARYANNE MORSE

CLE K Of CIRC IT COURT SE. UNY RID

PECLABATIONOFCONDQMINIVM ~'---"\-:1.~~~:::;..;.-

0F

REGENCY PARK AT LA.KE MARJ. A C01-W9MINJUM

Lake Mary Residences, LLC, a Florida limited liiii,ili~-~~~Dny, hereby drdares:

Jntroduction and Submission.

1.1 The Land, The Developer owns the fee title to certain land loc:Pe.I in Se•trl.nok County, Florida. m more paniC\lhrly described in "6Jhlblt 1 annt.xcd htnlu (tlw "Land").

J.2 Submission Statement. The Developer hereby submits 1h" Wnd 1br 1Lll improvements erected or to be erected thereon, and a1J othec p1upcrty, rcnl. persona) or mixed1 now or hereafter situated on 01 within 1he Wd 1 bt.Jt txdudin(! aJI publii:: or private Utility installations therein or thereon) to the ~indon1iniorn fo1m of owncr.ihip and use in the numner provided for in the Floriili1 Condominium Act as i1 exists on the date hereof. Without Jintitin~ any uf tht· foregoing, no property, real, persona) or mixed. not located within or uron tht· Land q aforesaid shal.J for any purposes be deemed part of die. Co11domiDi11nJ or be subject to the jwisdictioo of the Association. lhc operation 1u1d cffccl of th« Florida Condominium A.et or any rules or regulations proraulgat~ p1as1111m tbctelo.

1.3 l'::lBDK. The name by which 1his condominium is 10 be identifitd is REGENCY PARK AT LAKE MARY, A CONDOMINIUM (hereirufu:r calkd tl>< ·coDdomJ.n.lum•).

Definldons. The following tenns when ·wed in this DeclariUion and in it~ exhibits, and a. .. it and they may hcrcaftcr be amended. shall have the respective me;mings ast:ribed IC' them in this Section. cxc.cpt ..Were the context clearly indicates a differeDt n1c.mins:

2.1 .. Act" means the Florida Condcimiiliwn" Acr(<;ba:Pfij-~718 ofihe Florida S1:iru1cs) as it exists on the date hereof.

2.2 "'Ardclt1 .. or .. Articles ol lncorpontlon" mean 1he Articles of Io-:orporalion "f the Association. as amcmdcd fiom time to time.

2.3 14.Aftegmcnt" means a share of the funds required for the payment oJif Ct>nunt1n Expenses Which from time to time is assessed against the Unit 0¥.ner.

2.4 "A.PodJtlonH or .. Condominium Auocbtloa" means REGENCY PARK A1 ~:MARY CONDOMINIUM ASSOCIATION, INC., a Florida coipmu..iun not for profit. the entity r=ponsiblc fur the ope1Bt.lon oftbc Condominhun.

I Condominium ~lamion ke&eK>" Park at Lake Muy

Book6016/Paoe1 CFN#2005206443

.. - . ~;·~: . . 2.5 "'Auodatfon Property" means the propeny, ~.·~~pefsonal, in which title or

ownership is vested in the Association for the "uie itncf benefit of its members. ·

2.6 "Beard" or "Board of Directon" mcam the board of di""ton and the mcmben of the board of directors, from time to lime, of the Association.

2.7 "Bulldlng" means the structurc{s) in which the Units and the Common Elements are located, regardless of the number of such structures, which ore located on the Condominium Property.

2.8 "'By-Law1" mtan the By-Laws of the Association, as amended from time to time.

2.9 "Common Element." mean and include:

2.10

(a) The portion of the Condominium Proper1y which ere not included w.ithin the Units.

(b) Easements through Units for conduits, duel!, plumbing, wiring and other facilities for the ~shing of utility and other sCJViccs to Units and the Common Elements.

{c) An easement of support ·m every portion of a Unit which wntribute3 to the support of the Building.

(d) The property and installations required for the furnishing of utilities and olher services to more than one Unit or to the Common Elements.

(e) Any other pans of th< Condominium Pro~ c1cs;gnated as Common Elements in this Declaration. ·

.. . ~:·.,

''Common E.J:,PenHS" mean aJJ e~·~=; bf-' Uie Association for the Condominimn. For all purposes of this DcCJm1id0~ •comn1.on Expenses• shall also include all J'CSCl"'Yes required by the Act or otherwise established by the Association, rcgardl~ of when reserve funds are expended, but shall not include any other separate obligations of individual Unit Owners. For all purposes of IJUs Declaration, "Common Expense!"' shall oJso include: (i) all reserves RqUired by lhe Act or otherwise established by the Association. regardless of when ieserve ftmds ere expended; fli) the cost of a master antenoB television S}'5lem or duly .franchised cable lelcvUion service obtained punuan11o a bulk conbm:t; and (iii) if applicable, costs relating to n:ason11bJe transportation services, insurance for clirccion and officers, road mnintenancc end opcra1ion expcusc5. Md in-house communications and surveillance systems.

2.1 l "Common Surplm"' means the excess ofall receipts of the Associstioo collected on beh41f of the Assocl.e.tio~ including. but not limited to, Assessments., ren.lS, profits and revenues on account of the Comm.on Elements, ovc:r the emount of Common F.xpcnses.

2.12 "Community" means all the rca1 property encumbered by the Master Covenants (as hereinafter defined) more eommooly known as The Crossings.

2.1'3 "Condomhdum Pared'' means a Unit togtlha with tbe undivided slwo in the Common Elements which is appurtenant to said Unit; and when the context pm:iUts, tbc ltnn incl odes all other eppurtcrum<:es 1o th< UniL

2.14 .. Condominium Property" means the land. improvements and other jJl'Operty described io Section J .2 bt'JCOf, subject to the limitations thereof mid cxclwiom tbcrdiom. · · · '·

Book6016/Paae2 CFN#2005206443

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2.16

2.17

2.18

2.19

"Deel•ntioo" or 11Dcclar1tion of Condominium11 means this insbumcnt, as ii may be amended from time to time.

"'Developer" means Lake Mary Residences, LLC. a Florida limited liability company, its successors and such of ils assigns aa to which the rights of Developer hereunder are spe<:ificaJly assigned and any mortaagce whJeh is the successor to the interest of the Developer, to the extent such mortgagee accepta the rights and obligations of the Developer. Dcvc:loper may assign aU or a portion of ita right! hereunder, or Bil or a portion of such rights ht connec1ion with &peeific portions of the Condominium. In the event of any partial assignment, the 8.Sllignee shall not be deemed the initial Developer, but may exerclse such rishts of Developer as are specifically assigned to i~ subject to the rcquhemcut of Florida law that a _subsequent developer cannot n:tain conb'OI of the Auoc:iation unless h has received a qualifying: assignment 9f.thC creating developer's rights and obligations. Any such assignment may ~ nia.d~;o~ a JtOJH:Xdusivc basis.

'"Dbpute" for purposes ofSectiOn 19.l,."o;i~ ~di~gTccment betwccn two or mou parties that involm: (•) the euiliori!f:i;i\;!Ji~ lililll'd, under Cbepter 718, Florida Statutes. or Ullder this Declaration,, the Articies or By-LaWB to: (i) require any Owner to take my action. or not to take any action, invol\lins that Owner's Unil; or (ii) alter or add to a Common Element; or (b) the failure of tbe Associelioo, wh~ required by law or this Declaration, the Articles or By-Laws to: (i) properly conduct elcctiom; (ii) give adequate notice of meetmgs or other ae1ions; (iii) properly conduct :meetings; or (iv) allow inspection of books and records ... Dispute• shall not include any disagreement that primanly involves title to any Unit or Common Elements; the interpretation or enfo~en1 of any warranty; or the levy of a fee or Assessment or the collcc6on of 8D Assessment levied against a party.

"DivhJon'" means the Division of Florida Land Sales, Condominium and Mobile Homes of the Department of Business and Professional hgulation,, State of Florida.

2.20 "Finl Mortgagee"' means any person or entity that is the bolder of a first mortgage lien on a Unit

2.21 "lmprovementa" mean all suucnm:s Md Brtificlal changes to the natural cnvironmenl Jocattd on the Condon:lin.ium Property incluclin& but not limited to. the Buildings.

2.22 .. lmHtutlonal Fint Mortcq,ee" means a bank, savin;.s and Joan association. insunmce qompany, real estate or mortgage investment trust, pension fund. an egency of 1he Uwtecl SleleS Govemmen~ mortgoge. banker, the Fedeml Natiocal Mortgage AsSO<:iation ("FNMA"), the Fcdeial llome Loen Mortgage CoJ)lOration (

06FHLMC") or any other lender generally recogni# as an institutional leader, or the ~velopcr or H~o Dcl>t Fund l.1µf,"-.~. ~@!8..1' firll. mortgage on a Unit or Umts or Condomuuum Property •• ; !.·A?m~~·.· of .hutlhl&JtaJ Flnt Mo"'Pl:eea .. shall meu and ~rcr to InitinltiOJuil'~ Mottgagccs Of UnJts to which at least fifty-oni> peo:ent (Slo/o) of the ,,.,.;ng inletCSts ofUwts subject to mortBescs held by lnstitutionel Fu.t M,ortgegces lll'C appurtenant.

2.23 'ir.imlted Common Elemmts'" mean those Common Elements 1hc use of which is reserved to a certain Unit or U.aits to the exclusion or other Units, as specified in this Declaration. Rcfctc:P£Ca herein to Common Elements also shall include all Limited Common E1ement8 unless the cOnk:xt would prolu'bit or it is otherwise expressly provided. ·

2.24 "M .. tcr Auodatinn11 means THE CRossmGs MASTER COMMUNITY ASSOC IA UON, INC., e Florida corpootioo DOI for proli~ bell>& the entity responsible for the administration of the Master Covenants.

Book6016/Paae3

3 Condaminillll'I Dcclandioo ReJency hr:k II Lake MIJ)'

CFN#2005206443

3.

2.25 "Muter Coven1nb" meens the Revi9cd Declaration of Covenan1s, Conditions and Restrictions for The Crossings, recorded in-Official Records Book 1813, Page 1707 in the Public Records of the Seminole Cowity. Florida. and when the oontext permits, shall also mean the Articles of Incorporalion and By· Laws of the Master Association, a11 as now or hereafter amended, modified or supplc:mented.

2.26 ••Primary Jnatitutfooal Finl Mortpgee" means the Institutional First Mongagec which owm, al the relevant time, Unit mortgap securing a greater aggregate indebtedness than is owed to any other Institutional First Mortgagee.

2.27 "Sptcbl Autumenl" means any Assessment Jevied ageinsE Unit Owners other than AsSC3Smcnts rc:quiml by a budget adopted annually.

2:1.8 "Uoil" mean:s a part of the Condominium Property whidl i:s 5Ubjcct to exclusive ownmhip.

2.29 "Unit Owner" or "Owner or a Unit" or "Owner'' meam the Owner of a Condominium Parcel.

2.30 "Voting loterat" means the voting rights of the Association members pursuant to the Articles and By-Laws.

Unless the co11tcxt otherwise requires, any capitalized term 001 defined bw: used herein which is def med in the Master Covemmts shall have the meaning given to such word or words in the Master Coveo.ants.

·r:: Description of the Condominium. . (;-r.:~j· [ -3.1 Identification of lJoits. The Land bas comiruc1ed. thereon the Buildings

containing a total Of five hundred forty (540) Units. Each such Unit is identified by a .separate designatioJL The designation of each of such Units is set forth on E:l.b..lbit 2 attached berelO. Exhlblt l consists of a survey of the Land, a graphic description of the Improvements located thcn:on. including. but not limited to, the Building in which the Units are located, and a plot plan thereof. Said EmJbit 2. togct.her with this Declaration. is sufficient in detail to identify the Commoa Elements and each Unit and their relative locations end dimensions. There shall pass with a Unit as appun:enanccs thereto (a) an undivide.d share in the Com.moo Elements and Common SurplUs; (b) the exclusive rigbl to use such portion of the Limited Common Elements as may be provided in this Declaration; (c) an exclusive easement for the use of the airspace occupied by the Unit es ii exists at aoy partii:uler lime and as the Unit may lawfully be altered or recomtructed fiom lime to time, provided that an casement in airspace which is vacated shall be terminated automatically; (d) membership in the Association 'With the full voting rights appunenant tbcretoj and (c) other appurtenances as may be provided by this Decleretion.

3.2 Unit Boundaries. Each Unit shall include that part of the Building containing the Unit that lies within the following boundaries:

(a) Upper and Lower Bougdaries. The upper and lower boundaries of the Unit s.balJ be the following boundaries extended to their planar intersections with the perimettical boUDdaries:

(i) Upper Boundarie:i. The horimntal plaDe of the unfinished lower surl8cc of the ceiling (which will ~ cleaned to be the ceiling of the second story if the Unit. is a ~~ry Unit, provided that in two-story Units where thC· 1~.'~bOUhdary extends beyond the upper boundary, the upper bo~· shall include that portion of the ceiling of the lower floor for which there is no corresponding ceiling on the upper floor directly above nJCb bottom iloor ceiling).

4 Condominium Dedand::ion

Rz:a,c:ncy Pad:: ., Labl Mary

Book6016/Paoe4 CFN#2005206443

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(ii) Lower Boundaries. The horimntal plane of the unfinfshed upper surf,.. of the Door of the Unit (which will be doomed to be the Ooor of Ibo first slory if the Unit is a two--stOI)' Unit), provided that in two·story Units where the upper boundary extends beyond the lower boWldary, the lower boundary shall Include that portion of the floor of the upper floor for which there is no corresponding floor on the bonom floordirtC'lly bCl~w the floor of iuch top floor.

(iii) ·.it~--

Interior Djviejons. Excep1.iU .. ptov1d"j:d,:ln·subsect.ions (i) md (ii) above. no pall ofthe.Oooi.·'Qr;~~~-~-floor, celling of the bottom floor, stairwell adjoining the two::fldorS or nonstructural interior walls shall be considered a boundmy.ofthe UniL

(b) Pcrimclrical Boundmics. The pcrimetricsl boundaries of the Unit ahB.11 be 1be vertical planes of the unfinished iDlerior surfaces of the wans bounding the Unit ex.tended to their planar intersect.ions with each Olbcr and wilh the upper end lower boundaries.

(c) Apertmos. Wberc ther< are apertures in any bolllldary, including, but not limited to, windows, doon, bay windows and skylishts, such boundaries shall be extended to include the windows, doors and other fixtun:s l°""""' in such apertures, including all frameworks, Window casings and wealb.er stripping thctCO£ Exterior surfaces made of glllS.9 or other bm:lsparent material, and the exteriors of doors, all ~ conduits, ducts, vcnb, concrete joists end other such facililics serving more than one Unit located within any walls, including divid~ walls, or abOvc the nonstruCIUral acounical ceiling l)'inl below the upper boundary of the Unit. shall not be included in the boundaries of lhe Unit &J:Jd shall thcrefure be Common Elements.

(d)

(e)

Excentions. Jn cases not specifically covered above, andlor in any case of conflict or ambiguity, the survey of the Units set forth as E!b•blt 2 hereto shall conuol In dctennining the boundaries of a Uni~ except th81 the provisions of SCCliQn 3.2(c} above shall control unless specifically depicted otherWlie on such survey .. The air.conditioning closets and air-­bandlen and condensing units located lhcicin shall be part of the Unit they serve. · ' ,. · ·· ,, ·.~

Property Excluded limn Umts:,'~"Vbt1'~iJ\iit be deemed to inelude foundations, columns, girdeJs, beariD~l°~rtS;: ~or walls, interior load bearing walls, pillars, underlying floors, essential and pemument instsllatiollS and equipmmt for power, lishts, and oxbausl fans, and all pipes, conduits, ducts, vents and o~ service and utility lines which are utilized for, serve. pass ~ugh l1lCXC thBu one Unit a:- the Common Elements. ·

3.:3 Limited Common Elements~ Each Unit may have, to the extent applicable and subject to the provisions of this Declaration. as Limited Common Elements appurtemmt thereto:

(a) Patios Balconies and Terraces. Any patio, balcony or lcrrtlCe. including, bm not limited to, such 8Ras located on the roof of the Building (snd aD improvements thereto) as to whidl direct and exclusjvc access shall be afforded to any panicnlar Unit or Units to the exclusion of others shall be a Limited Common Element of such Unit(s). The kmclation shall be responsible fOr the cost of inaintemmcc of the structural end mechanical elements of any m:h Limited Cammon Elements, with the owner of the Unit to which they arc appurtenant to be responsible for 1he general cleaning, plant con: and the upkeep of the appcarancc of tho...._

Book6016/PaQe5

s Condominium Dcc::lalllti1111 ~ Parlt ez Lake Mary

' '

(b) Miscellaneous Areas- EaµjDmcnt. Aily fixtures or equipment located nol within a UnU (e.s., an air conditioning compressor or bot w11ter heater) serving a Unh or Unit.II exclusively and any area uponfwithin which web fixtures or equipment arc localed shall be Limited Common Elcmcol!l of auch Unit(3).

(c) Parking Spaces. Parking for the Condominiwn is parl of the Common Elements of the Condominiwn on lhe Condominium Property. The parking spBCCs shown on EJ.biblt 2 of the Dcc1e.ralion may be assigned to a Unit (which assignment need not be recorded in the public records of the County) by 1.hc Developer (for so long as the Developer off en a UrUt for sale in the Condominium. and thereafter by the Association). whc:~upon it shall become Limited Common Elements of the Unit to which it is assigned. Any consideration paid for the assignment oftbc parking spaces shall bc:Jons to the Developer.

(d) Cooling Tower and Other F.ouipmenl A cooling 1ower, air conditioning equipment or other equipment serving one or more but not all Units shaJI be a Limited Common Element of the Unit(s) so served, with the AssociBtion to maintain such equipment at the sole coS1 and expense of the Unil Owner(s) served by said equipment. Tbe cost of maintaining said equipment shall be divided equally among the Units served by said eqWprncnl. In the event that physical changes in the Building result in additional Units being 5CJVed by such equipment or, in the alternative. Units ~ing ro be so served. ~en d.J.c .-tquipmcnt shall be a Limited Common Element appurtenant to tli~ Uiiitl!i'aj)d¢ and sbaU CCllSC to be one

(e)

to the Units deleted. · ··

Storage Spaces. Developer hcR:by reserves the right lo assign (for consideration or no consideration. io Developer's sole discmion), the exclusive rigbl to use any storage space localed in the Common Elements of the Condominium. if any, to one or more Units, when::upon the space so assigned shall be deemed a LinUted Common Elemenl of the UJUt(s) to which it is assigned. Such assignmtot shall not be JCCOrdcd in the Public Reoonb of lhe CotDlty but., ra1her, shall be made by way of instrument placed in the official records of the AssociBtion (as same m defined in the By-L8ws). Upon making such &S3ignment. the Limited Common Elements so assigned sbaJl bc:comc an eppurtene:nce to &he Unit(s} aDd shall pass with title·thcrcta regardless of wbcthcr or not .!J)CCifically refcrmccd in the deed or other imtrument of' conveyance of the Uillt The maintenance of any space so assigned. m well m the insurance of its con1Cuts. shall be the sole responsibility of the OWner of the Unit(s) to which it is assigned. A Unit Owner may a.uign the stomge space appurtenanl to his Unit to another Unit by written instrumcii.t delivered to (and to be held by) the Association. ·

Cf) Q!bg. Ally other portion of the Common Elements which. by irs nature, cannot serve all UniLs but serves one or more Units (other thau exterior staircases and walkways not labeled as Limited Common Elements on Eihlbtt l hereto) aball be deemed Limited Common Elements of the Units served. In the event of any doubt or dispute as to wbcthcr any portion of the Common Elements constitutes Limited Common EICmcnts or in the event of any question as .to W~!!.!\.J.Jnits arc served thereby, a decision shall be mad< by the Boan! ofDfit!:lim• and shall be binding Bnd conclusive wbeo so made. · '.·· · · ''. · :;~ ·."

'1· ! ' .. :1t,:.~.;. :.;·· 3.4 Easements. The following casements 8J"C hefcby created (in addition to any

easements crealcd under the: Act):

(a) ~ Each Unit. the Building and lmprovcmcnts shall have an easement of support and of necessity tmdef and upon, and shall be subject to aD casement of support and nccegj1Y in favor of all other Units, the

6 Condomiul\JJll ~lamlon Regency Pari: at Lako MIU)'

Book6016/Paoe6 -CFN#2DD5206443

)

)

)

)

)

(b)

(c)

Common Elements, and any other structure or improvement which abuts any Unit, the Building and ~c Improvements.

UdUty and Other Serviw; PWnage. Easements are reserved under, lluougb and over the .Condomlniwn Profi<mll aa may be roquired fiom time to time for utility, eablc l~l~~i_oJJ,7.~inmunicatiDnS Bild security systems, and other services ·~O i~Sc; ,iii order to serve the Condominium. A Unit Owner Sh&il dQ=lfQ~gWithln or outside his Unit that interferes wilh or impairs, or may. interfere with or impair, the provision of such utility, cable television, communica.tions tllld security systems, or other service or drainage facilities or the use of these easements. The Board of Directors of1hc Association or its designce shall have a right of access to each Unit to ln5pcet same, lo maintain, repair or replace the pipes, wire!, ducts, vents,, cables, copduits and other utility, cable tclcvi~on, communic;cLtions and similar a;yltemS, hot water beaten, service end drainage facilities. and Common Elements contained in the Unit or elsewhere in thC Condominimn Property, ad to remove any lmprovements interfering with or impairing such facilities or casements hmin reserved;. provided such right of access, except in the eveul of an emergency, shall not umcasonably interfere with the Unit Owner's permitted use of 1he Unit. and cxc:cpt ~ the event of an emergency. cnlJy shall be made on not less Oum one (I) day~ notice {which notice shall not, however, be required if the Uni I Own.CJ is absent when lbe giving of notice ill attempled). Dminage systems on the Condominium Property, if any, shall be maintained continuously in good condition by the Association and easements are gnmtcd hereby over ell Units in favor of aJJ Ownm end the Association with JapeCt thereto.

EncroacbnienU. If (a) any portion of the Common Elements encroaches upon any Uni~ (b) any Unit (or LimJ"ted Common Element appmtcoant thereto) encroaches llJ>On any other Unit or upon any portion of the Common Elements (c) any Improvements encroach upon Common Elements; (d) any Common BlemenlS or •improvcmcnts• of another condominjum creatcd within the ~n;iPlcx encroach upon the Condominium Property; Or (c) any cncmis,. ~i,;, t sbaU bc:mll\cr occur as a J<SU!t of (i) constM:don or the ¥Jrof.i;# . : ;' (~l settling or shifting of the Improvements; (ill) an)' al~(iO~ &;7,

1 .._. to the Common Elements

made by or witb the consent ·or the~- ~. .i&tion or Developer. as tlpp?Opriatc, .or (iv) any n:pair or RStoJatiOn: ·or the Improvement.! (or any portion thereof) or any Unit after damage by fire or other casualty or any taking by condemnatjou or eminent domain pnx:eec1i"£3 of all or any portion of any Unit or lhe Common Elements or common areas, then, in any such event. a valid Casement sha,ll .OOst for such cncroacluncnt and for the maintcmmcc of Same so JoDg 8ll the Jmprovemcnts or the relevMt •improvemeuU- ofanothci condominimn wilhiD the compJex shall staDd.

(d) Ingress and Egtt.ss. A non-cxdusivc cuemcnt in favor of each Unit Owner, resident of the Condominium, their guests and invitees: and the Association and its employees and agents shall exist for pedestrian traffic over, through and across sidewalb. streets, pa.lbs. wall:s, and other portions of the Common EICttients, as well as the Masttr AssociUion Property and the Common Properties. as fiom time to time may be inlendcd and dcsigoated for 51!Ch purpose and use; and for vehicular and pedestrian traffic over, through and across such ponione of the Common Elemc:nis. as Mii as the Master Assoclatlon Properly and the Common Properties, as from time to time may be paved and intended for such pUIJ>OSCS. None oflbe eascmcots specified in this subpmagraph (d) shall be cncwnbcrcd by any leasehold or lien other than those on the Condominium. Any 51!Ch lien encumbering such casements (othcJ than those on Condominium) automatically shall be subcmlinslc to the rights of Unit Owners and the Alwciation with respect to such easements.

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(e) Cmµrtruction· Maintenance. The Developer (including its designees, contracton, successon mortgagees tuld assigns) shall have the right, in its {11nd their) sole discretion ftom time to dme, lo enter the Condominium Property and take all other·action nca:ssary or convenient for the purpose of completing the colllb'\Rtion thereof. or any part thereof, or any Improvements or Unit• located or to be localed lhereon. and comtruct any adjacent condoininh,un building and to comtrucl any improvements and for rq>ajr. replacement and maintenance pmposes or where the Developer, in its sole discrctioni detennjncs lhat. it is required.

(I) Sales and Leasjng Actiyity. For as long ea lhe Developer is offering BnY Units for sale in the ordiniuy counc of busbtess, the Developer, its designecs, succcsson mortgagees and nsilins, shall have the right to use any such Units and parts of the Common Elemmta: for guest accommodatiom, model npwtmonts Bnd sales and consuuction offices, lo show model Units and the Com.Dion Eleni~ta·to prospective purehesers and tenants of Units, and 1o erect.Qn'.thc. cOila.itiiliniurD Properl1 sigm and other promotional matcrill to adverti~~U~f~r ·Sale or lease and for any other similar purpose lhc De~elopcr dCCms: a'ppropr:latc in its opinion.

(g) Additional Easements. The Develop« ("' long as it ls offering aoy Units for aale in the ordinmy course of business) and the Asaocillion, on 1hcir behalf and on behalf of all Unit Ownen (each of whom hereby appoin'l9 the Developer and the Aasociation as its attorney-in-fact for this purpose). each shall have the ril!ht to grant such additional general ("blanker' and specific electric. gas or other utility. cable television. accmity syBt.cms, communications or BCJVice eucmcnts (and appropriate bills of sa1e for equipment. conduits, pipes. lines BDd similar installations pmainin.g: lhcmo), or relocstc any auch existing casements or drainage facilities, in any portion of the Condominium Propeny, and to gran1 ~s easements or relocate any existing ecccs.s easements io any portion Of the Condominium Property, m lhe Developer o11hc Association shall deem necessary or desirable for the proper opendion and mejntc:nmcc of the lmprovcmcnlll, or ·BDY portion thereof, or for the general health or welfare of the Unil Owners, or for the purpose of canying out an:y provi3iom of this Declaration, provided that such casements or the relocation of existing CBSCments will not prevent or unreasonably interfere with 1he reasonable use of the Units for dwelling purposes. The Developer's right to grant additional easem.,.. as p10vided in dds Section 3.4 shall be .....Jable by the Association after the Unit Ownas, other than 1he Developer. have u.rumcd control of the Association.

(b) Support cf Adjaccnt Struetures. In the event that uy structurc(s) is constructed so as to be conn~ ~ any mllDDer to lhe BuiJding, then there shall be (and there .Is hereby .d~l~~.un casemmt of support for such structure(•) as well as .foi'Ui• .. ~Jii)i~'I- mainteMnce, rq>air ond replacement of all utility lincsHl!D.i:; ~Dii!.""1 serving lbe adjacent structure which arc neee!sarifY ot ··~\r~~~y tocatM within the Condominimn Propm.y (provided that 1hC Use Of this easemeo1 shall not UDl'C8SOnshly intaf~ with the structure, operation or use of the Condominium Property or lbe Building}.

(i) Divider Walls. The wa]I teparating the Unit of Dile Owner liom the Unit of a vcnicaJJy or horizontally adjoining Owner shall be refcmd to as a '"divider wall". A divider wall shall not be removed or constructed by ao Owner, except es p10vided in dds subsection 3.4{i). Jn the event a Unit Owner ecquires an adj8"Dt Unil end a divider wall is no longer necessary to completely separate the adjoining Units, 1he Owner may remov~ the divider wall or comtrucl or ~ to be constructed a doorway or passageway between lhe adjoining Units (and an COJemcul is hcroby reserved and grant..i for such J>UIPOIC) but only afttt having obtained all required governmental npprovah, ajiproval of the Board, and has complied

8 CondomW= D<cl"""°"

Rcgmcy Park: d Lake Mery

Book6016/Paoe8 CFN#2005206443

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)

}

)

4.

with ell reasonable restrictJons impoSed by:tlli: Board. The removal of the divider wall or the consttuclJon of.1ni~~ ~~~or puaagcway shall be a1 tho sole coat and expense f;)f thc·Q~~'er ~~!~_g.eam.e and such removal or COJl!'b'uCtion shall not diminiill'i/Qr::bi~~y-.~y impair, lhc 1truthlnll integrity or sowdness of I.he Building.': .When dtle to JMljoi.nmg UnilS (which do not then share a complete divider waJI) aha.II vest in two individuals or entities who tbm:upon become vertically or horimntaJly adjoining Unit Owners, then the OWncr! of such adjoining Units, acting together, must construct, sharing the costa and expenses therefor equally, a divider wall to completely or partially separate said adjoining Units. A divider wall may not he constructed or erected, however, until the review {at the expense of the Unit Owner) and consent of the Association and until all governmental approvaJs, as aforesaid. have been obteiocd. Any such construction shall be effecled at the expense of the Owner(s) perfonning smne and in Bccordancc wi1h the plans end apocifiCAliom for corl!truction. In no event may a divjdcr wall be constructed if the 1truchU'8.I soundneu of the BuildiDg may in any way be affected thereby. Adjoining Units which share a divider walJ shall have a cross-ascmenl of •upport ln the divider wall. Each Owner •hall be responsible for any damage caused to B divider wall by iu negligent or intentional acts or the negligent or intentional act!I of its cmploye.cs or agents, and the cost of said repair shell be the specific obligation ofthal Owner.

Restrpinl Uoon Sepamlion and Partition of Common IDemetrus. The wwlividcd slum: in the Common Elements end Common Surplus which U appurtenant to a Unit. BDd the exclusive right, or shared right as epplica.ble, to usc all appropriate appurtenant Limited Common Elements, shall not be scparatcd thereftom end shall pass with the titJc 1o the Unit. whether or not separately described. The appurtenant share in the Common Elements and Common Surplus. and the exclusive rigbl to use all Limited Common Elements appurtenant 10 a Unit, except u elsewhere herein .provided to the contrary. cannot be conveyed or encumbered excep1 togetb~ with ~el'U.niL The rcapect.ivc shares in the Common Elements appurtenant to UDitJ ihal"J ~ifudivided. and no action for partition of the Common Elements, the CQrido~~'~t_Or any palt thereof. shall lie, except as provided herein wi~ respect 10 t~~dii~~lcondominium..

S. Ownership of Common Elements end Cmnmon Sumlm afid Share of Common Rxpense!!" Voting RigbtJ. . .

5. J Pcrce;nta&c OwrtershiP and Shares~ The undivided interest in the Common Elements-Common Swplus, and the ~iagc share of the Common Expcmc:s, appurtmaAt to each Unit, is set forth in Exhibit 3 attached hereto and made a part hereof. All persom arc: hereby notified that such percentage sbwa were calculated in accoidance with approximate adjusted square footage computations of the Units. .

5.2 Y2!i!!g. Each Unit shall be ~titled to one (J) vote to be cast by its Owner in aecordancc with the )mlvisiom of 1he By-Laws and Articlesi of Incorpond:ion of the Association. Each Unit Owner shall be a member of the Association.

6. AmendDJepts. Except as elsc:whcre provided herein, amendments to this Declaration may be effected as fi>llows~

6. J By The AsMJcietjon. Nqtice of the subject matter of a proposed mDCDdm.ent shall be included in 1hc notice of ey meeting at "Which a proposed amendment is to be coDJldercd. A reooludon fDr Ille adoptloe of a prop<>.ed amendmCDI may be proposed either by a majority of the Board of Direciors of tho AssOciation or by not less 1hao. onc·third (1/3) of the mem.bcn of the Association. Director.i and members nol ptaent in person or by prosy at the meeting coDsidering the amendment may expres1 their approval or ·disapproval in writing to the Association after such meeting. However, such. ajJproval or disapprvval may not be used for purposea of voting for Or ap.inst an'y. ~On and may oot be used for the PUIJ>05e of eatablishins a quo~; ~~~~ provided, approvals

9 i't?·\[·:t':~~--~·!;··· Condominlwn ~lantlon Rt:&CIK)" Parle 111 Lake Mary

Book6016/Paae9 CFN#2005206443

must be by affinl'latlve vote oflJnll 0'Mlers owning in excess ofa majority oflhe Units. Unit Owners• votes may be subininod In person, by proxy or by wrlnen agrccrnenl, ao lona as.the aamc i• pcnnltted by appllcabh: Florida 1r.w. For further informe.Llon rc~ding proxy votinH. plc11Se refer to the A11ocla1lon's By-lawa.

6.2 ~. Notwithstanding an)'lhlng In lhls Declaration to lhe contnuy, the Developer, durin9 the llme it has tht right to elect a majority of lhe Board of Directors of the AsaoclatloD, may amend the Dedaration1 the Artides of Incorporation or tho By-Laws of the Ass<K:iation or the rulu and regulations of the Association, wilhout the vote or consent of Unit Ownem or the Association, ioxcopt for a •material amendment" dc1cribcd below, which 1hall be approved by a vote of the majority of the totaJ votins inlerests of tho Association, unleas required by any governmental authority, In which c~, ~ approval is required. A "m11terial amendment" means en amend,ment whkitf.t~.ge1 the configuralion or size of any Unit in a material. faslliOlfj. rii~ahy -.alters or modific" lhc apPurtenancc11 to any Unit. createS tlmci'Jl'iic ~iti't~fdi Change11 the percentage by which the Owner of a Unit shares lhe CominoO'Ex~~s and o:wns the Common EJement' Md Common Surplus.

6.3 Execution gd Rcgudlng, An amendment, other than amendmenls made by the: Developer alone pursuant.to the·ACI or thi1 Declaration. 1hall be evidenced by a certificate of lhc As90CiatioD which '11all include recording data identifying the Dec1ara1ion and shall be executed with the urne formalitie' required for the exception of a deed. Amendments by the DcveJoper must be evidenced by a similar certificate executed by die Developer alone. An amendment of the: Decimation is effective when. the mnendmmt and the applicable ccrtificBtc an: properly recorded in the public records of the County.

6.4 Proviso R.eppnlina MB\erld Amendments. Except for amendmen1" made by the Developer as provided in Section 6.2 ebove, and as Olberwisc provided specifically to the c:ontrary in thla DcclaralioD. no amendment shall change the configuration or size of any Unit in aay material fuhion, materially alter or modify lhe appurtciiance1 to any Unit. or charge the percentage by which the Owner of a Unit shares che Common Expenaei and owna the Common Elements and Common Surplus, wdcas the mnendmcnt Is approved by a. vote of scvcnty­five percent (75%) of the tollll Voting lnlcrcsb oftbc AssocJBtion, including the Owner(s) or lhe Uniqs) affecied by !he chonae, and I! al.so approved by any record lien holder, unless the amendmeni is rcqulrcd by any governmental entity, in whic:h event no such approval ii required. No amcndmcm may be adopted which would ellmJnate~ ~fy, prejudice, abridge or othcrwilc advmcly affect any rights, bencfib, pritileges or Prioritica granted or JCSCrVCd to the Developer without ~ OOment of said Devclopet In each.'ins_iance. The provisiom of this ScctiOn 6.4 may not be amended in Bny.,~g".;~out the consent of the Developer as long BS the Devel~ i( ~ffetj~8~~. iUts for sale in the ordinary course of busines,. The acquiJition'f;rJJ.IY~~tii,.\Uie As.wciat.ion, material alterations or substantial additions io sUCh" PJ~Ot !Ji;c Common Elements by the Association end "installation, rcplaccmeitt; ana maintenance of approved hurricane ahutten, ·jf in a.ccoidancc with the provi1ions of thia Occluadon. shall not be deemed to constitute a material alteration or modification of the appurtenance• of lhc Units, and accordingly, shall not constitute a Material Amendment.

No provision of lhis Dccluation shall be revised or amended by rcftrcnce to hs title or number only. Propo5al1 to amend exiSting provisioDJ of thit Declaration shall wntain lhc full text of lhc provision 1o be amended~ new words shall be inserted in lhe text underlined; and words to be deleted ahall be lined through wllh hyphens. How~. if the proposed change b so extensive that this procedure would binder, ralher than wild, !he undemandini of !he propoted mnendmen~ it ia not ncccaamy to use underlining and hyp~ u lnd.Jcaion of words added or deleted, bu~ insl<8d, o ootolio• rnuat be inJCfled immedlotcly pm:eding 1he propoJCd amendment in 8Ubrtantially the followlna languaae: "'Substantial rewording ofDeelar8tion. See provilton ••. for preaent text." Nonmaterial errors

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10 Condominlwn ~lamkm Rep;cy Park It Lake MD)'

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or omissions in the 11111endment process shall not Jnvalidatc an otherwise properly promulgated 11111endmenL

6.!i Mru:t:uu:e'J C9019nL No emendmcnt may be adopted which wouJd eliminate. modlfy, pf'C!ittdicc-, abridge ot otherwise advenely affect any rights, benefit&, privilegeJ or priorities panted or reserved ·to mortsagces of Units without the cons.ent of said mortgagees in each instance; nor shall an amendment make any ~hange in the sections hereof entitled 11lnsunmce", 11Reconstruction or Repair aft.er Casualty", or .. Condemnation" unless the Primary Institutional Finl Mortgagee shall join in the amendment EJCcepl u specifically provided herein or ifmquired by FNMA or FHLMC, lhe conScnt andlor joinder of any Hen or mortgage holder on a Unit shall not be rcqubed for the adoption of an amendment to this DeclBration and, whenever the coment or jolnder of a Hen or mortgage holder is required, such consent or joindcr shall not be urueasonably withheld.

7. Majntmencc and RwW,

7.1 Y.n!!ll. All maintenance, repairs and replacements of. in or to any Unit. structural or nonstructural, ordinary or extraordinary, including, without limitation. maintenance, Rpair and replacement of scr=ns, screen enclorurea, windoW11 the interior 1ide of the entrance door and all other doon within or affording ac«111o a Unit, and the eleeb'lcal (tncludJng wiring), plumbing (including rfixturc! and cormcctions), h~ting and air"*ndltioning equipment, fixturea 8nd outh:ts. appliances. carpets and other floor coverings. all ,interior surfaces and the entire interior of the Unit lying within the boundarict::of the Unit or ·lhc Limited Common Elements or other property .~l!>~•itl~:fahe Unit Owner, shall be pcrfonned by the Owner of such Unil at thC UntrOYmer's Mic 1;0st and expense. eJCcept as otherwise expressly provided to the '"COQtraly herein.

7.2 Common Elements and Llml\ed Common Elcmmb. Except to the extent (i) expressly provided 10 the contrary herein. or (ii) proceeds of insurance ~ made available thtRfor, all maintcn&D.cc, repairs and repl8CC111ents in or to the Common Elements and Ll~ited Common EJ~cntl (except as exprasly provided to the cootrary with respect to cooling tower, air conditioning equipment and other equipment, which aervicc a pal1icuJar Unit or Unitl, but not all Units) shall be performed by the.Association and Ille colt and cxpenae thereof shall be charged to all Unit Owners as a Common Expense; except 1o the cxt.Cnt arising .from or necessitated by the negligence, ·m1suse or ncglccl of specific Unit Owners; In which case such cost and expense shall be pajd solely by auch Unit Ownm. Any Unit Owner who causes dainagcs to any. part of the Comm.On Elements or Limited Common Elements lhall indemnify and hold the Auociation and Developer harmless fi'om all costs, expenses &nd claims in conne_clion with such damage.

7.3 SpecjfiC Unit Owner Rcsponsibilitv. Except as cxprcssly provided 1o the contmy hereio, obligation to maintain and repair any equipment, fixtures or other items of property which S<JVicc a particular Unit or Units shall be the 1CSJ>OD9ibllity of the applicable Unit Owners, individuaJly, and DOt the Association. without 1egard to whet.her such items arc included within the boundaries of the Units, provided that if not within the boundaries of a Uni~ same must cond:itute or lie within a Limited Common Element appurtenant thereto.

8. Additions. AJtqutiom or lmproygnents by 1he Amsjption. Whenever in the judgment of the Board of Dircctor11 the Common Elcmeut11 1hc "Association Property or any part thereof, shall rcqtiire capital additiom1 altcration,s. orM.imw.9vcments (aa· distingui!hcd &om rcpain nnd replacementl) QOsting in ~~~:o.f_2~/bf.11ho annual budget for the Association in the aggn:pe in any calc:adar y"'1f;'!Jie · .' ·: ~9h may proceed with 111tb additions, altcnrtioas or improvcment9 only Uthe· ·.· '"·' ·~f s'W:b addidons. altcratiom or improvement& shall have been approved by a majorltf bf ihc· Uniu teprexnted at a meeting et which a quorum iB attained. Any such BddJtioru, alrcntions or improvements to such Common Elcme:ots, or·any pan thereof, costing in the aggreptclesa than 25% of the annual budget for the Association in a calendar ~ may be made by the Association without approval of the Unit Ownen. The con 8lld expense of aoy such addiUons.

Book60161Paae11

II Condominium DClclarat:lcm Resency Parle. It Lake Mary

CFN#2005206443

elterations or improvements to such Common EJements shall consUt1.11e a part of the Common Expenses and shaJI be IWltssed to the Unil Owners as Common Bxpcnaes. Por pmposcs of this aection1 •aggregate in any calendar year• shall include the total debt incwrcd in that year, if such debt is ·incurred to perform the above-stated purposes, regardless of whcthcr the ttpayment of any pm1 of that debt h1 reqWrcd to be made beyond lhat year.

9. Additions. Altenitlom or Improvements by Urut Owner.

9.1 Common Elements. No Unit Owner shall ~all::!; ,.i~ny addition, alteration or improvement In or to the Common Elements, or Bny.LDnitcd Common Element or structural change in his Unh without ili·~~pqo; _wj:iJttm"._Conacnt of the Board of Dl~tors. The Board shall have thc·obUP,tiOif;&~WCr any written request by a Unit Owner f'or approVBI. of such an addition, .aJier8.tloit or Improvement ln such Unit Owner'a Unit or Limited Conunon Elomenta within thirty (30) days after such request and all additional Information requested ls received. and the failure to do so within the stipulated time shall constitute the Board'a tollKnt. The proposed additions, alterations and ·improvements by the Unit Owners shall be made in compliance with all laws, rules, ordinances and regulations of all governmental authorities bavingjurisdicllon, and with any conditions imposed by the Associalion with respecl to design, struc:tural integrity, aesthetic: appeal, construction details, lien protection or otherwise. Once approved by the Board or Directors, such approval may no~ be revoked. A Unit Owner making or causing to be made any such additions, alletaliom or lmprovemenu lfP"CCI, and shall be deemed 10 have agreed, for such Owner, and his heirs, penooal rcprescotatives, successors and assigns, as appropria1e, to bold the Developer, the Aa:sociation, and all other Unil Ownen hmnless from and to indemnify them for any liability or damaae to the Condominium Property and expenses arisin& therefrom. aad shall be solely responsible for the mainlenanc:e, repair and imunmcc thereof from and after thal date of inscallation or construction thereof as may be required by the Association.

9.2 Addjtiom:. Alterations or lmprovements by Deyeloper. The foregoing ~cUom of 1hia Section 9 shall not apply to Devcloper.-owncd Units. The Developer shall have the additional right, without the conJettt or approval of the Board of Directors or D1her Unit Owners, to (a) make allendiom, additions or improvements, stru~ and non:-JbUCtural, bncrior and exterior, onilnary and extraordinary, in, to and upon any Unit owned by it and Limited Common Elements appurtenont thcmo (Including. wi1hou& limitation. the removal of walls, floon, ceilings and other ~ ~rtions.'olr;f1 : .,"c Improvements), and (b) expand, alter or add to the rcereatj.o~ XFPi.tir. ' ,_. · 1h! earlier of such time ll!I the Developer no longer off en Udits .. ffir~r ~. ·, · n trmsfcr of Association eontrol. · : ·- r~; }.~f!!.t· 'l"

·: ., 9.3 ln addition to the foregoing, all additioDB, Blteratioris and improvements proposed

to be made by any Owner shall be subje<:t to, and n:micled by, the tenns and conditioDs of the Master Covcnanta and i;nay also require the prior approval of the Ma!tcr Associstion.

10. Changes in Dcveloper:Owncd Units. Without limiting the generality of the provisions of paragraph 9.2 above, 1he Developer sball have the ri£bt, without the vote or consent of the Aasociotioo or Unit Owners, to (i) make alterations, additiom or improvcmcota in. to and upon Units owned by the Developer, whether structwal or DOD-structural, interior or exterior, ordinary or extraordinary; and (ii) c:hangc the layout or numbct of rooms in eny Developer-owned Units; provided, however, lhal tlK ~blgc intcrcm in the Common Elements and share of the Common Swphls and Common Expenses of any Units (othtt than the affceted Develo~wncd Unit!) shall not be ehan&ed by reason thereof unless the Owners of such Units shall CODSCDt lhercto and, provided further, that Developer shall comply with all laws, orditutnccs and regulations of all governmental BUthoritics having jmisdlction in so doing. Jn making the above altemions. addJtiOlll and improvements, the Developer may relocate and alter Common Elements adjacent to or near IUCb UWl!I, incorporate portions of the Common Elements into adjacent Units and incorpome Units

12 Condomlntwn Dcc1ant1on Regency Park al 1.alc.e Mary

Book6016/Paae12 CFN#2005206443

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)

into adjacent Common Elements, provided that such 1e1ocation and alteration does not materially advcr5eJy olfect the market value or orctinary use of Units owned by Unit 0wnc:l'1 other th.an the: Deve)oper. Any amendmcnla lo this Dcoletation requirQ(f by actions taken pursuant to· Ibis paragraph JO may be i:fTooted by the Developer alone, except to the extent that any or the: same cons6tutos a material om~ndment, jq which event the amendment must be approved by a majority of voting inle~•lt of Unit Owners. Without limiting the generality of Section 6.4 hereof~ tho provblont ofthJa Section may not be added to, emended or deleted without the prior V?ritten consent of the Deve1opcr,

11. Operation of the Cqndorninium by the Association: Powers md Dutig.

11. J Powers and Duties, The Associotion shaJI be lhe entity responsible for the operation of the Condominium. The powcn and duties of the Association 9hal1 include those set forth in the By~Laws and Articles of Incorporation of the Assochrtfoo, as amended ftom time to lime. In addition, the Association shu11 have all the powers and duties set fonh in the Act1 as well as all powers and dutlts granted to or imposed upon it by this.Declaration. including, wilhoul limitation:

(a) The irrevocable right to have aocess to each Unit Ind the Llmlled Conunon Elements from time to time during reasonable houra as may be neceasary for the maintenance, repair or f.C,Placement of any Common Elements therein. or at any ~e and by (9~~ if necessaiy, for making emergency repairs therein ~~~~ .•0 p'!~~~ .~e to the Common Elements or to any other Umt or,UiJ_1(B;,. -~.-·i·l . ·

(b) The power to make and collect Assessments (including Special Assessments). and other charges qainst Unit Ownm and to Jeese. maintain, repair and replace the Common Element.a.

(c) The duty 10 maintain accoun1ing records according to sood accounting practices. which shell be open to i~on by Unit Ownc:n or their authorized representatives ar reasonable times upon prior request.

( d) The J»OW'Cr to CODll'llel for the manaaemc:ot Biid maUrtenancc of the Condominium PropCrty and to authorir.c a management agent (who may be an affiliate of 1he Developer) to assist 1he Association in carrying out Its powen and duties by performing such functions as lhe submission of proposals, collection of Assessments, preparation of records, enforcement of rules and maintenance, repair &11d rcplaeement of Common Elements with such funds m shall bC made available bf the AssociBt:ion for aueh purposes. The Association and its officers shall, ~er. retain at Bil times the powtm and dUtic! granted. iD tht: Condominium documents and the Condominium Act, including, but not limited to, the making of Assessments, promulgation of rules and execution of contracts on behalf of the Association. An'J contract as aforesaid shall be entered into only after uny competitive bidding requirements set forth in the A~ have been met.

( e) The power to borrow money. execute promiasory notes end other evidences of indebtedness and to give BS security therefor mort~ and security interests io property owilcd .by '.th,e(b!sociatio' if any, provided lhat such actions arc approved .bY. a)••)oi;i.!f ·vr the cnfuc mcmbcIBhip of the Board orDUecto .. and of the'.i/ruu~teil et a meeting at which a quorum has been attained, Or bY Buch ~ ·~ of the Board or Unit Ownen as may be specified iD the By.Laws with respect to certain borrowing, provided further ~ prior to trarisfer of Association control, or such time as the Developer no longer offers Units for saJe, no aucb action shall be pmnined whiJc 1hc Dtrvelopcr oWns any Unit without the prior written consent of the Developer.

(f) The powei- to charae e rec· for the exclusive me of any Common Elements or Association Property by an Owner.

13 CODdomlnlwu Dcclamlon

Regi=ey Parl'. st Lab MQ)'

Book6016/Paoe13 CFN#2005206443

(g) The power to act w the coll~1ion asent on bd):alr, end at lhe requeal, of the Master Association fot.:m;eumenta due tho Mulcr A II ~ u·o · ..... .-~~'"' ssoc at on num rul \'mCr!, . ·, r.:' .·'~ ... :,~·.!. :,. .

: ·~-' ,-, .·,.,. .. -...:' :' (h) The power to adopt and amend Nici :Cina ~gulations concerning the

details of the operation and use of the condo~inium property.

(i) The Aesociation, when authorized by a majority of the UnlrOwners has: been attained, shall have the Power to acquire, convey, lease and encumber personal and real property, whether or nol contiauous to the l1111ds of the Condomlniwn. The expen11es of ownership (lnctudlng the expense of making and carrying any mortgage n:lated to 1uch owncrahip), rental, membership fees, operation, replacements and other expcnse11 and undenakings in c:omcction therewith Mall be Common ExpcJU1es.

(j) The power to employ penonncl (pan-time or full·time), and Jr part·lime, such personnel may bo employees of other condominium association11 and allocation of their compensation 11hall be equitably, apponioned amonR the assocladons for which employee provideJ services.

(k) All of the power11 which e corporation nol for profit in the State of Florida may ex~isc pursuant to this Declaration, the Anicles Incorporation. the By-Law11. Chapters 607 and 617 Florida Statutes and the Act. in all cases except Bii cxpn:11sly limitt:d or restricted In the Acl.

(I) Subject to the limitations provided in this subparagraph. the power to aue and defend faW:tuil!. Notwithslandins anything lo the contnry contained herein or in the Articles or By·LaWI of the Association, (I) excapt for auita lo collect assessments. suits against persons or entities who may violate lhc Declaration of Condominium.· Articl~1 or By-Laws of the Association or rules Biid iegularions properly promulllate4;by lhe Boord ofDirecto,., suil!. or administrative actiom .\o_·.~1eij~~ valomn taxes or other applicable taxes. and CX"1Jl for dCf~ ili::tiops 8gaimt the Association, subsequent to the dale that UnJt 0wnm:0Qlcr. than Developer have elected a majority of the membcn of the Board of Dirccton. the Associiltion and its Board of Dirccton and Officm .shall not be eDtitlcd to bring any legal or administrative actions uuleu and \Dltil the taking of such action is approved of by Unit Owners having not less than Slo/o of the Voting Interests other than the Voting Interests of the Developer, (ii) prior to the Aisa<:iation proceeding with any lawsuit in eonncetion with any claims, demands, disputes, controversies and differences th.al may ariae in connection with this· Cqndominlum or the provisioru, conditions or restrictions contained in this Decimation, the Articles or By-Laws of the Association. or BDY Rules or Regulations adopted by the Board of Directors, the matter shall be SlJbmiited to mediation pursuant to Florida Statues 718.1255 and the rule• for mediation adoplcd by II>< Circuit Coun for Miami-Dade Couoty, Florida. The modiator'a fcca, if any, shall be divided equally between the parties. Further, thb KCtlon 11.1 Ol "'!uirc• that the Association proceed to mediation with any Jawauit. for dUputes including, but not limited to: Developer rcpresentarions pertaining to commonly usea facilities. actions taken by Dcveloper-clce1cd directors while lhe Developer conlrob the Association; diaplllcs resanling the Purcbascr'a claim of V(!>idability bMCd upon contractual provisions as "'!ulml by Florida Statuoa 71B.503(1XA); false or mlsleadJns awemenu published by lhe Developer and relied upon by the Pun:bucr; and warranty rights on your Unis _and improvementt. lbc Division of Florida Land Salca, Condominiwm and Mobile Homca bu con\eltcd the: enforceability of these provislom. Until there is an admWstrativc rule or legislative dlange, or other definitive raolution. Unita Ownc.n should consult an attorney about their rights~ these provlsiom.

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CoftdomlnlumDcct.ralon•~, :~1, · · Regency PiR at Lake Muy

Book6016/Paoe14 CFN#2005206443

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11.2

11.3

11.4

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In the event of conflict among the powers and duties of the Association or the 1erms and provlslons of this Dcclarallon or the exhibits etlached hereto, and/or lhe Master Covenants or otherwise. tho Master Covenants shall take precedence over thia Dco1aration, lhl11 Declamdon ahaJI take precedence owr the Articles of Incorporation. By·Lawa and applicable rules and regulatlona; tho Articles of Incorporation shall take precedence over the By~Laws and applicable rulea and regule1ions; and the By.Laws shall take precedence over applicable rules and regula1iomi, aJI as amended from time to time. Notwithatandina anythina: in the Master Covenants. this Doclaratlon or its exhibits lo the eonb1U'y, the Association shall et all times be the entity having ulOm~tc eonttol over the Condominium, consistent with the Ac1. ·

Limilation Uoon Liabl!lty of Agocjation. Notwithstanding the duly of the Associaaion 10 maintain and repair parts of the Condominium. Propcny, the Association ahall not be lilhJe to Unit Owncra for injlll}' or dlUMIC, Qthcr than for the eost of maintenancC and repair. caused by any latent eondltion of the Condominlwn Property. Further, the Assoclat.IQn.Shall·not be lfabJe for any such injwy or damage caused by dcfec1s in design· or wOi~anship or any other rcuon connected with '11)' additions, alterationS,or. imprti\iirihcnll done by or on behalf of any Uiih Owncra rcgardlcu ofwhetfirOiaioi ian'C'.shaJJ have been approved by the Association punruant to Section 9. J· hcreor . .,,:··~ ·

Restraint Uoon Apisnment of SbaJe:1 in A !!ti!· The she.re of a unit Owner in the funds and assets of the A!lsoc:iation cannot be as.signed, . hypothecalcd or tnwfcrmd in any manner except as an appurtenance lo his Unit.

Approval or Disapproyal gf Mettm. Whenever the decision of a Unit Owner is required upon any matter. whether or not the subject of an Associalion mee1ing, that decisjon shall be expreued by the same penon who would cast 1he vote for that Unit if at an Aasociadon meeting, unless the joinder of all record Owners of

·the Unit is specifically required by this Declaration or by Jaw.

Acts of the Associatian. Unless the approval or action of Unit Ownm. and/or a certain apc:cific pcruntage of lhe Board of Directors of the Aa!IOCiation. is spa:ificaUy required iii lhi11 Dc:clanillon. the Art.ides of Incorporation or By-Laws of the Association, applicable roles and reBuJalions or applicable law. all approvals or actions required or permitted to be given or taken by the Association shall be given or taken by the Board of Directors, without the consent of Unil Owners, and the Bo"ard may so approve and act through the pro.PCF officers of the Association without a specific resolution. When an approval or action of the Association is permitted lo be given or taken hereunder or thereunder, such action or approval may be conditioned in any manner the Auociation deems appropriate or the Association may refuse to take or give such BC6on or approve! without the necessity of establishlng the ieasonableilesa of IU;Ch conditions or refusal. Notwithstanding anything to the contr81)' set forth. in the Section 11.5, the Bow:d of Directors shall· always comply with all notiCe rcq1*cmenta set forth in the ~iclcs, thC By-LaM andfor lhe _Florida.~la,i;.ts~ ah~;~~ meetings of the Board of Director! shall be open to the Uru~ Own~_\,:: .i ·.:·i.·ii::1;. .

-·.:;_, ·" .• :.;,;-,"-:t.;::·\, ' '. Effect on Deyeloper. Jfthe Developer holdS 6 tlr:i!t.JOi Sale in the ordinary course of business, nbnc of the following actions may be taken without the prlor written approval of the Developer:

(•) Al"'8SmClll of the Developer as a Uni1 Owner for oapilal improvement>;

(b) Any action by Jhc Association dud would be dctrimcnlal IO lhe aalca of Units by lhe Developer; provided, however, that an increase in Assessment.I for Common Expcnsca wilhout discrimination apinrt the Developer shall DOI be decincd IO be detrimental IO lhe ..... ofUnill.

12. Dettnnination of Commnn Bxpmss and fixing of AJ1e1rmt:nl!J Thqefar. The Board of Directors shall from time to 1ime1 &Dd al Jeut annuaUy. prepare 11 budget for the

IS Condomtnimn Dccllltallon Regency Paric st Lde MIU)'

Book6016/Paoe15 CFN#2005206443

Condominium, delcnnlnc lhc _ wnount of A!lse:ssnlenti Pa~ObJe by lhc Unit Owners lo meot lhc Conunun Expenses of the CondomlnlUnrMd atii>t&le and a.mis such·eKpcnscs among the Unit Ownors in accordancic: with the jftQyl~l'o~-~Qf1hii DeClaselion and the By­Laws. The Board ofDln:ctou ahall ad\•lsc oll Unll Owt1Us promptly In \Wiling of the Rmount or the A1aeu1nent1 payable b)I each of them as determined by the Board of Directors as aforesaid and shall furnish eoplea of each bud set, on whieh auch A1seaamcnt arc based, to all Unit Owners {and If requested In Writina) to their respective mortgqces. The Common Expenses a hall Include the expenses or and reserves for (If required by lnw) lho operation, mainlenancc, repair and replacement or the Common Eh:mcnls, costs of canylng out the powtra and dulle1 Of the ASIDCiation and any olhcr cxpenaos designated as Common llxpcnacs by lhe Act, thb Declaration, tho Anlcle1 or By-l.aWI of the AssDCiatlon, or appllcable rules and n:sulaliops b)l lhe Aas<N:iallon. Jncldental in.xJme 10 lhe Associalion, If any, may be used to pay regular or oxtreonlinary Anociation expenses md linbilitlcs1 to f\Jnd reserve account11 or otherwise a:i the Boiud ahall dctcnninc £rom time to limo, end need not be restricted or oc:cwnulated. Any Qudgct adopted ahaJI be subject to chan&e to eover actual expcnaea el ony time. Any auch change shall be adoplcd consistent with the provisions of the Declaration and the By.Laws.

I). CoUcct\on of Aa1911ment1.

13.1 l.jabilily for Aye1nment1. A Unit Owner. regardlCJs of how title is acquired, Including a purchaser at a fon:closurc aaJc or by deed in Heu of forcclolJUIC,. shall be liable for all A1scsamentl coming due while he is the Unit Owner. In the case of a conveyance, the grantee ahall be jointly 111d aeverally Hable with the grantor for all unpaJd Asse91menll againat the grantor for his ehare of the Common Expenses up to the time of lhe corivc31ance, without prejudice 10 any right the grantee ma31 have to recover from the granlor the amounll paid by the grnntee. The liability for Aucaamcnta may not be avoided by waiver or the we or enjoyment of any Common Elements or by the abandonment of the Unit for whicb the Assessments are made or olhcrwfsc.

13.2 'n . • Assc11ments and imtaHmcnti lhcrcof not paid within ten (lO) Cliyf. _rqp, c-dete when they are due shall bear intercat at the highest lawful rate fioin "lhe'date due- until paid and shall be aubj«:I to an administrative Jnlc rec {in addition to such inleJal) io 8J1 ~OUOl not to exceed lhe greater of $25.00 or five pczUn1 (S%) of each deliJtCiuenl installment.

The Association has 11 lien on e"ach COndominiwn Parcel for aay unpaid Asacs:1ments on auch Parcel; with lnlercat and for rc&llODBblc attorucy'a fees and costs incurred by the As'°'iation incident io the collection of the A31CS!mcnt or enforcement of the Hen. The lien ii effective as of the date of the recording of a claim of lien in the Public RcCords of the CoWlty, slating the. description of the­Condominiwn Parc:el, the name of the.record Owner, the amo\lllt due; the due dates and the name and addrcu of the Association. The claim of lien JhalJ not be released until all llWlll secured by it (or suc:b other amount u to which lhc Assoeialion shall 8if<C by way of acttlement) have bceD fully paid or unlil It is barred by law. The claim of lien shall accure {whether or not Jtated therein) all unpaid USCJSmCllts, interest thereon. and com and attorneys fees which arc due and which may accrue iubtequent to 1he recordiJJg of the claim or lien and prior to the entry of a final judgment of foreclosure thereof. A clalm of lien ahall be signed and acknowledged by an officer or agcnl of the Association. Upon payment. the person making the payment 11 entitled to a satilfaetion of the lien in n:cordable fonn. The Assoe:ia.1ion may bring an aetion in ita name tO foreclose a lien for unpaid Asse.umcnll In 1he- manner a mong&ge or real property is foreclosed and may also bring an action at Jaw to m:over a money judgment for the un~d .Assc!sments without waiving any claim of lien.

A.a an addilional righ1 and mncdy of the Auocla1h?n. upon the filing or n claim of lien following a default· in lhe paym~t' of -~~enta as aforeaa.jd, lhc Anocirion may declare aJJ Alaeasment iJJ;S;fallmrnls:,due for 1hc remainder of the budact year in which the claim o( lie1'·.;.,~~~j,l!ij.,!1ofbe ac<:eleratcd and shall

16 Condominium Declaradon llepncy PW at Lake M.-y

Book6016/Paae16 CFN#2005206443

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!hereupon be immediately due and payable. ln the cvcnl thi;iit the amourit of such instaJhnenll!I chtsngcs during the twelve (12) month period, the Unil Owner or the., Aaaoclatlon, as approprialo, shall be obllgaltd lo J>ll)' or rcimbun:e lo the other the amounl ofinc:reasc ordccrcue within lcn· (10) day.11 of same taking effect.

If any unpaid share of Common Expcnaea or Asseasmenls· is extinguiahcd by foreclosure of a auperlor Jion or by deed in lieu of forec:loaUR thereof, lhe unpaid share of Common ExpenJCs or Assessments arc Common ExpenSCll collcclible from all Unit Owncn.

tl.J Notice or Intention to fon;cJgS Lien. No forCclosurc_judgment may be entcied until at least thirty (JO) days after the As~oclation: .J.lY~S written notice to the Unit Owner ?f i~s intent!on to forctlose .its H~~l~ ~-1.~.i~f ~c unpaid Aa~menrs. If Chis notice. 11 not giv~n at leasl thirty. (30)-~~aj~f~~· the forcclo1ure action. la filed, and 1f the unpaJd A1sell!lmcnls. 1nclud1ng· UiQx coming due after the cltum of lien is recorded, a.re paid before the entry of a final judgmenl of foreclo1ure, the Association shall not recover attorney's fee! or costs. The notice must be gi\'cn by delivery of a copy of ii to the Unit OWner or by certified or registered mail. return receipt requested. addressed to the Unit Owner at lhe IRSI known address, and upon such mailing, the notice shaJJ be deemed to have been given. If after diligent ICBJdi and inquiry the Association t:annot find the UnU Ovmer or a mailing address al which the Unit Owner will receive the noti1;e1 1he .court may procu:d with the foreclosure· action and may award attomey'1 fees and eo:!lta as permitted by law. The notice requirements of this aubsedion are satisfied if the Unit Owner records a Notice ofConten of Lien as provided in the Act.

13.4 Apnoinlmcnt of Receiver to Collect Renta). If the Unit Owner remains in possession of the UnJt and the c-:lalm of lien ia foreclosed, the court in i11 discretion may require the Unit Owner to pay a reasonable mital for the Unit. If the Unil is rented or leased during the pendcncy of the forectoaurc action. lhe AsJOClation is entllled to rhc appoinbncnt of a receiver to collect the rent. The cxpenJCS of such receiver :!!hall be paid by the party which doe1 not prevail ini the fomlosurc ae1ion.

l J .S First Mortgycc11. The JI ability of a First Mortgagee, or iu succc:wir or assigni:cs, who acquires title to a Unit by Coreclosw-c or by deed in lieu of foreclosure for the unpaid Assessmt'Dts (or imtallments thereof) that became due prior to the Fim Mortgagee's acquisition of title is limited to the lesser of:

(a) The uru1•s unpaid Common Expensca a.pd rcgolar periodic Assessments which accrued or came d~ during the six (~) m~D~.~cdi1tcly prcccdina: 1he acquisition of title and for which payrilcnt)n ful!~ not been rcecived by the A&sociation; or · ::~.;~1·;~~:·~t.~1c;:·~,·~ : (b) One pcrc.cnl (I%) of the original Dlort~~1·iJibt.

k. to a Unit acquired by foreclosure. the limitatiom set forth in cl~ (a} end (b) above shall not apply unless the First Mortpgec joined the Auociation u a defendant in the forcdoswc action. Joindcr of the Assocladon, however, ls not required jf, on the date the co~pJaint is filed, the Association was dissolved or did not maintain an office or agent for service Of process at a location which was known to or reasonably discoverable by the mortgegc.

An Institutional First Mortgagee acqulling title to a Unil a.a a result of forecloswc or deed in lieu lhcrcofmay not, during the period of its ownership or such UWt. whether or nol such Unil is unoccupied. be excused &om the payment of some or all of the Common Expenset coming due during the period of such ownership. ·

NolwithrtandinJ anythina to the contJ:my act forth in thia section 13.5, no First Mortgagee will be relieved from the obligation of paying an Assessment,

Book60161 Paae17

17 Condominium °"larstlon

Repocy Puk a1 Lake Mary

CFN#2005206443

. ', ·'~>·) ~ ". whalevcr the amount, If such Assessmcnl Wlll!I :scclftd by a reeorded lien on the Unit prior to lhc rcco1ding uf lhe Finn Mortgagee's Mongaso on the Unit.

I 3.6 Developer' a OWWUJlL'11 pd l.labi!Uv for Aeses:Pmcnls. During the period from lhc date of lhe elosins of the pun:lwe and sale of the first Condominium Unit un1il six (6) months fiom that date, or the dale UnH Ownera other than the Developer arc in conlltll of the A11sociatlon, whh:bevcr oct::um earliest (the "Guannly Period"), the Developer gu111Bntees to each Unil Owner tha1 the monthly 1111aeHmen1 for Common Expenses during tho Ponion of the flscal year covered by 1he Ouaranty Period 11hall not lncrcasc over the staled amounts per quarter or per month eel fonh In Eghlblt 7 lo this Declaration. Developer, at Its 10le discretion end option, moy extend the Ouan.nty Period for up to two (2) oddilional six (6) months periods. During the Ouuanty Period the Developer shall be excused frOm the payment of Its share of the Common Expenses and Asscsunents attributable to Units It own11 provided lhat the Doveloper shall be obligalod to pay any amount of Common Expenses actually incurred during 1uch period and nol produced by lhc A1sc11mcnll due ft'om Unit Owners other than the Developer. For pwpoaell of this Sec1lon, income lo the Anociation other than A11e1smcnu (as defined herein and in lhe Act) shall not be taken Into accoun1 when detenninina the deficll8 to be ftmded by the Developer. No funds receivable from Unit pun:hasen or Owners payable to the Association or collcc:1ed by the Developer on behalf of the Assocladon, other 1han regular periodic Aasessmenl5 for Common Expenses u provided in this Declaratiori 1111d disclosed in the Ertimatcd Operating Budget rcfetttd lo above, shall be ued for lhe payment of Common Expcnx! prior to the explra!lon of such period. This restriction shall apply to funds includinK. but not limited lo, tepilaJ contributions or stan·up rWlds collecled fiom Unll purc:hasen DI closing. .: ·

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13.7 Certificate of Unoaid A1aeaments. Wiih~ Ji~.cen. (1$) days after a wrincn requctt by a Unit Owner or mortga1cc of 11 Unit;:tJiC Association shall provide a certificate ataling all A1scnments and other mone'yS owed to the Aasotiation by the Unil Owner with rcapect to hia Unit, and the Anocfa11on Jw the right to charge a retlBOnablc fee for such certificate. Any pemm other than the Unit Owner who relics upon mch ccrtlficale shall be protected thereby.

13.8 Installments, Rcaular A11e1mcnl!·ahaJI be collettcd monthly or quarterly, in advance, as determined by the, BD8rd of Directors.

13.9 Appljeatipn of Paynu;nts. Any payments rtuived by the Msociation from a delinquent Uni I Owner shall' be applied fint to any mterc.I DCmaed on the delinquent inataJlmcnl(•) as ·aforcaafd, then to any cOSls and reasonable attorneys' ttes Incurred Jn collection and then to the delinquent and any accelmrtcd A1sessmcn1s. The forcgoine shall be applicable notwithJtanding any restrictive endooement, designation or instruction placed on or ~mpanyi.ng a payment.

14. ln1urance. Insurance covering the Condomiirlwn Property and the Association Property ahaJJ be governed by the following provi!lions:

14.I Purchase. CUltody and Payment.

(•}

(b)

(c)

fltWllK. All insurance pollciea dcscribod hOJ<ln covering portions of th• Condominium Property !hall be puicbascd by the A>sociation ond !hall be iJsue.d by an insurance company authorized to do lnuinesa in Florida.

NMu:d ln•ured· The named insured shall be lhc ADocia:don, Individually, and u agent for Owncn of Units covered by the policy, without n8:ming •hem, and u agent for their mortgagees, ·wiiho_Ut namin& them. The Unit Owners and their mortgagees ehZJlJ.~ ... ~f:f1~~i6ona1 inrureds.

Cud.Ody of Pcljciet and Payment Or~- 'All policies shall provide thel paymmta for loues made by the insurer ohall be paid to !he lnrw>nce

18 Condominium Dc<:lantion

Rcpnc:y P.t at lAb Muy

Book6016/Paoe1 B CFN#2005206443

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Trustee (if appointed). end ell poUcies and endorsements thereto shall be deposited with the Insurance Truslee (ir appointed).

(d) Cople1 to MoJjpepscs. One oopy ofct1Ch insurance certificate evidencing ruch Policy, and di endorsements therctD, shall be furnished by the Agsociation upon request to each lnSlitutional Fint Mortgagee who holds a n1o_rtgage upon a Uni I covered by ~e poJlcy. Copies or C;ertificatcs shall be furnished not less than ten (10) days Prlo~ to the beginning of the term of the policy, or no! less than ten (10) d.ays priOr to 1hc eitpb;ation of each preceding policy lhnt is being rcnC~-~~~-~~lt~ftli es appropriate.

(e) Pe[!!onal Pmpc.t1! and Liabiljtv. ExccPl U .. s~Pccfficelly provided herein or by the Act,-the Association shall not be responsible to Unit Owners to obtain insurance coverage upo11 the property lying within the bOundarics of their Unit, including, but not Jlmitcd to, their personal property, and for !heir personal liability BJJd Jiving cxpenso and for ony other risks not otherwise in11ured in a~cotdance hcrewhh.

(f) lpsurancc Tnlstec. The Boltld of Directors of the Association shall appoint an Insurance Trustee hereunder. i-·c:cs and expenses of any Insurance Trustee are Common Expenses.

14.2 Coverage. The AssociaUon shall maintain insllrance covering the following:

(•) ~- The Building (including all fixtures, installations or addltions comprising that part of the Building within lhc boundmies of1he Units and required by the Act lo be insured under the Association's policy(ics). bu1 excluding all fiunilUrc, furnisbingi. floor coverings, wall covcrillgs end ceiling wvtrings or other pcrsoll!I} propcny owned, supplied or installed by Un.it Owncn or tenants of Unit Owners) end all Improvements located on the Common: ElcmciltS from time to time, together with all fixtures, building service equipment, personal property and supplies constituting the Common Blcmmta or owned by the Association (colleWvcly the 'Insured Property"). shall be imurcd in en emoun1 not Jcu than 100"/0 of the full insurable replacement vaJuc thereof; excluding foundad:On and excavation costs. Sllt'.b policiei may contain reasonable deductible provisions u detennincd by the Boerd of .Directors of the Association. Such coverage shall afford protection ~~i~,.

(i) Lou or Dame.p:c by F'uC 14Wd'·Othq~~ covered by a standard · extended coverage endorsCmqrt: ~4 ~

(ii) Sucl:i Othq RiW. Bll from tinic 10 time arc customarily coven::d with rcspcct to build~ 8Jld improvements similar to the Insured Property in constrilction, location and use, including. but not limited to, vandalism and malicious miscblcf.

Notwhhnanding the foregoing, lhe following item! shall be excluded from the coverage described above, unJess olbcrwise elected by 1hc Association: (i) all wall, floor and ceiling coverings wilhiD Uni~ (li) all fixtur<o and IUmiture, eqwpment other pmi>nal propcny owned, supplied installed by Unit Owners or tenants or subtenun.b thcr;of, (iii) all aJtcmtiom, capital improvements and bettcnnenta made by Unit Ownm, tcnants or oubtcnanlS and (iv) to the extent required by applicable law, electrical fixtures, water beaten and built·in cebincts, aJl of which are located within a Unit and are the repair/replacement responsibility of the Unit Owner (or its tenant or subtenant).

ALL OWNERS, MORTOAOEES, OCCuPANTS OF UNITS AND OTHER AFFECIED PARTIES ARE HEREBY ADVISED TIIAT IT MAY NOT BE ECONOMICALLY FEASIBLE OR OTHERWISE POSSIBLE TO INSURE THE IMPROVEMENTS FOR THEIR FULL

19 Condominium Declaration Rqcrocy Park 11 ·LW ME)'

Book6016/Paoe19

··11:

(b)

(c)

(d)

(e)

(d)

(c)

. j·

REPLACEMENT VALUE AS A RESULT OF 1llE APPLICABILITY OF ZONING OR BUILDING CODES. ACCORDINGLY, NEITIIER THE ASSOCIATION NOR ANY OFFICER OR DIRECTOR THEREOF SHALL BB LIABLE TO ANY PARTY WHATSOEVER IN THE EVENT OF A CASUAL TY LOSS TO TIIE · BUILDING WHICH EXCEEDS THE COVERAGE AFFORDED BY REASONABLY AVAILABLE INSURANCE.

Liability. Comprehensive general public liability and automobile liability lnsumncc covering loBB or damage resulting from accidents or occurrences on or about 01 in. connection with the Insured Property or adjoining driveways and walkways. or any wo~ mattct1 or things related to the Insured Property, with .Uch coverage Ill shall be requhed by the Board of Directors of the As:KK:iation, but wilh combined single limit liability of not less than $2,000,000 for each accident or oceuncncc, $300,000 per pmion

and $100,000 property damage, and with a crass liability endorsement to cover liabilities of the Unit Owners u a group to any Unit Owner, and viec vcna. The Association may also obtain and maintain liability iruiurancc for its directors and officers and for the benefit of the Association's employees. · ·

Wotkc(s Compensation and otJici'.~~-~huunmcc, wbc1l applicable.

Flood hmpance covering the Common Elements, Association Property and Units if required by the Primary Institutional Fint Mortgagee or FNMAIFHLMC, or iftbc Association so clo;:ts.

fidelity lnsunmcc if requin:d by the Act or F'NMAIF.fll.MC, covering all persom who control or disburse Associa:t.ion funds, such imurance to be in an amount no1 Jess than the maximum funds that will be in the custody of the association or its numagement agent at any one time. Association Property. Appropriate additional policy provisions, polic::ics or endoiscmcuts cxtcncllog the applicable portions of lhe coverage described above .to all Association Property. where such coverage is available.

Such Other lmurancc as the Board of Dirccton of the Association shall detmnioe &om time to time to be desirable.

When appropriate and obtainable, each of the foregoing policies shall waive the insurer's righ1 to: (i) subrogation against the Association and against the Unit Owue~ individually and m a group, {ii') to pay ooly a fraction of any loss in the event of coinsurance or if other insurance caaicrs have is.sued coverage upon the same risk. and (ill) avoid liabJlity for a loss 1hat is caused by an act of the Boud of Directors of the Association. a member of the Board of I>ircctors of the A.ssoc:iation. one or more Unit Owncni or as a result of contractual undertakings. Additionally, each policy shall provide that any insurance trusl agreement will be recognized, lhat the iasunmcc provided shall not he prejudiced by ony act or omissions of individual umt Owners that lll'c liri.1. under the control of the Association, Md that the polity shall be~. cVcQ if a Unit Owner has other insurance that covers the same loss. · . '. .~.'. ~ .-;;<:. · Every casualty in$urlmcc policy obtained by the AssoclatiOJI, if required by FNMNFHLMC, shall have the following cndoracments: (i) agreed omoUQt and inflation guard and (II) 111eBm boiler cov0nge (provldlJ>g st least $50,000 covemgc for =h accident st cub location). if oppliaible.

14.3 Addjtional Provisions. All policies of insurance shall provide that such policies may not be canceled or substantially modified without at ICU! thirty (30) days' prior written notice to all of lbc named insured. including all ~ccs of Units. Prior to obtaining eny policy of casualty imurancc or any renewal thereof, the Board of Directors shall obtain an appraisal from a file insmancc company. or

20 Condominium °"Jamfon R.t&~cy Parle Ill Lake M.iy

Book60161Paoe20 CFN#2005206443

other competent appraiser, of the full insurable replacement value of the Insured Property (exclusive of foundetions). without deduction for dcprcciadon. for the pwpose of determining the amount of insurance to be effected pursuant to this Sei;:tion.

J4.4 Premiwru!· Premiums upon insurance policiCs pUrc~d by the Associ11tion shall be paid by the Aesociation as a Common'~Xj>e~; t;ic:cept-that the costs of fidelity bonding fur any management company i:mployeo.Ifuli' be paid by such company pumwrt to its contract wilh lhc Association; PremiUms may be finmccd in such manner as the Board ofD~tors decm8 appropriate.

14.S Insurance Trustee; Share of J>ms:mrls. All insurance policies obtained by or on behalf of the Association shall be for the benefit of the ~iatioo. the Uni1 Owners and their mortgagees. as their respective interests may appear, and shall provide that all proceeds covering property JoSKa sh.nil be paid to the Insurance Trustee which shall be designated by lhe Boanl of Dlrtctors and which, if so appointed, shall be a bank or ttust company in Florida with trust powers, "1th jts principal place of business in the State of Florida or one or more of the Diiectors or Offi~rs of the Condominjum .Associ11tion. The lruurao.ce Tl"UBtcc shall not be li11ble for pa)'Dlent of prcJWum.s, nor for the renewal or the sufficiency of policies. nor for the failure to collect m1y insurance proceeds. The duty of the Insurance Trustee shall be to =ceive mcb proceeds as are paid and to bold the same in trust for the pmposcs elsewhere stated herein, and for the benefit of the Unit Owners and their iespective mongagees in the following shan:s, but shares need not be set forth on the records of the Insurance Trustee;

(•)

(b)

(c)

Insured Property. Proceeds on account of damage to the: ~~Property shall be held in undivided shares for each Unit Owner, such shares beiDg the same as the undivided shares in the Common Elements eppunenant to each Uni~ provided 1ha1 if lhc Insured Properly so damaged includes property lying within lhe boundaries of specific Units, 1ha1 ponion of the proceeds allocable to such property shall be held as if 1ha1 ponion of lhe Insured Property weic Optional Property as described In pomgraph (b) below.

. . ·'. Ootionaf ProDCrty. ~ On .. ~1:11:\l .~fblfr~fy_age solely to Units and/or certain portions or all of tbC cOn~~ib~fJii:it included In the Insured Property (all as determined by the ··~on in its sole discretion) (cnJlecdvely 1he "Optional Property"); if' miy is collected by reason of optional lnsumncc which the Association elects to carry thereon (as coDtempJatcd bctein). shall be held for the benefit of Owners of U.Uts or olhcr portions of the Optional Properly' damaged in proportion to the cost of repairing the damage suffer<d by ""'h such affected Owner, which cost and allocation shall be dctcnnincd in the sole discretion of the Association.

Mortpnvg. No mortgagee of a Unit shall have any right to determine or partidpatc In the dctenninabon as to whether or not any damaged propCrty shall be :reconstructed or Rpldrcd, BJJd no mortgagee shall have any right to apply or have applied to the reduction of a mortgage debt any insurance procccds, except fur actual distribuUODB tbercof mode to the Unit Owner and mortgagee: pursuant to the provisions of this Declaration.

14.6 Distribution of frnrrMs. ·Proceeds of insurance policies received by the In.suraocc Tnmcc shall be dlmibuted to or for the benefit of the beneficial owners thereof in lhc followi.p,s manner:

(a) Expenses of the Tnm. All expenses ofthe Insurance Trustee shall be :lint paid or provision shall be made therefor.

(b) RCCODllruction or Repair. lflhe demaged property lbr which 1he proceeds arc paid is IO be repaired or tecomtructcd, the remaining proceeds shall be

21 CondomiDium Declamlon . , . ~mcy PIJlc: at Lako Mafy . ... ~ ,

·:1;·~:~.1 :1-~,~f!) 'l' Book60161Paoe21 CFN#2005206443

paid to defray the cost thereof as elsewhere provided herein. Any proci:eds remaining after dcfiaying sui;h costs shall be distributed to the beneficial owners lhereof in the same percentage& as their D'Mlenhip of the common clements, with remittances to Unit Owncn and their mortgagees being payable jointly to them.

(c) Failure to Reconstruct or Repajr. Jf it js determined in lhe manner elsewhere provided 1hat the damaged property for which the proceeds ere paid shall not be ~nstrucled or repaired, the remaining proceeds shall be aJJocalcd among the beneficial ownm as provided in Section 14.S abo\le, and distributed fim to all Institutional Finl Mo11gagces in an amount sufficient to pay off their mortgages. and the balance. if any, to the beneficial owners.

(d) Certificate; Jn making distributions to Unit Owncn and their mortgagees, the lmurance Trustee (if appointed) may rely upon a cenificale of the Association made by its President ~ 'S~ es to the names of the Unit Owncn and lbeir mortgag~ .~d:·efieJr'. respective shares of the distribution. ; .' -· _· ··_; ': -::.; ·. ·

,\"

14.7 AssociBl.jon us Agent. The Association is hereby irrevocably appointed as agent and attorney-in-fact for each Uni1 Owner and for each owner of a mortgage or other lien upon a Unit and for each owner of any other interest in the Condominhnn Property to adjust aJI claims arising under insurance policies plD'Chase.d by the Associalion and to execute and deliver releases upon the payment of claims.

14.8 Unit Owners• Personal Qwerape.. Unlc95 the Association clcds otherwise, the insurance purchased by the Association shall not cover claim.a against an Owner due to accidents occurring within his Unit. nor casualty or theft Joss to the contmts of an Owner's UniL le shall be the obliption of the individue1 UD.it Owm:r, if such Owner so dcsiJcs, to purchase and pay for inmrancc as to nJI such and other risks not coveted by insurance cairic:d by the Association.

14.9 Benefit of Mortgagees. Certain provisions in this Scc:tion 14 cotldcd "'Insurance:• an: for: the benefit of mortgagees of Units and may be enforted by such mortgagees.

14.10 Presumption as to Damaged ?moerty. In the event of B dispute or lack of certainty as to whclhcr damaged property constitute a Unit(s) or Common Elements, such property shall be presumed to be Common Elements.

1 S. R.cconstruction or Reoair After File or Other Casua)ty.

15.l Determination to Reconstruct or Repair. Subject "to the immcdialely following pamgraph, in the event of de.masc toot des:b'U:Ctip_q·qf, the 1nsuJcd Propert)' (and the Optional Property, if insurance llllS 1*:n_obtA\liCd by the Association with respect lhe:ieto) BB a result of fin br otH:&' ~:!Unless 7S% or mDR! of the lns=d J>njpeny (and the Optional Property, if Wilnmce llllS been obtained by the Association with respect thereto) is destroyed or subslaotially damaged and Unit Owncn owning 80% or more of the applicab)c intcrcm in the Common Elements elect not to proc:ecd with repairs or restoration and the Primary Institutional Pim Mortgagee approves BUdJ clealon. the Board of DircctoIS shall amm.ge for the prompt repair and RStomtloo of the Insured Property (and the OptiOOJI! Property, if imuJmoe has been obtained by the Associadon with JCSpeC1 thcmo) and the lnswance Trustee (If appointed) shall disburse the proceeds of all insurance policies to the contracton engaged in mch icpair and restoration in appropriate progress payments.

If 7So/e or more of 1hc losurcd Property (and the Optional Property, if insurance bas been obtained by the Association with rcspoct lhen:to) is substantie.lly dam.e.sed or destroyed end if Unit 0wnCJ"ll owning 800/o of the applicable intcrcats

Book6016/Paoe22

22 Condominium Declaration Repnc;y Pm Id Lake Muy

CFN#2005206443

-

I

15.2

IS.3

15.4

' ! · .c)h:·. in the Common Blemcn~s duly and pWth.PUYi te.~lVC. npt to proceed with the rcpail or restorWon thereof and the· Primmy1. ... ID,,thutJonaJ Fint Mongagees approve Buch tcaolution and provided 11 recorded ··insbUmcnt bu effected the termination of lhc Condominium. the Condominium Property will not be repaired and _shall be subject to an action for partition instituted by the Association. any Unit Owner, mortgagee or licnor. as if the Condomlnimp Propeny were owned in common, in which event the net proceeds of insumncc JCSUJting fiom such damage or destruction shall be divided among aJI the Unit Ownen in proportion to their respective interests in the Common EJcmcnts (with respect to proceeds held for damage to the Insured Property other than that portioe of the lllSURd Property lying within the boundaries of the Unit), end among alfeet<d Unit Owners in proportion to the damage suffcml by each such affected Unit Owner, as determined in the sole discmion of lhc Association (with respect to proceeds held for damage to the Optional Property. if any andlor 1hat portion of the Insured Property lying within the boundaries of the Unit); provided. ho~er. that no payment :sbaJJ be made to a Unit Owner until there has first been paid off out of his share of such fund eJI mortgages end liens on !Us Unit in the order of priority of such mortgages and liem.

Whenever in this Section the wonb "promptly rcpair9 are used. it shall mean that repairs are to begin not more then sixty (60) clays fiom tho dale the Insurance Trustee (if appointed) notiJies the Boord of Directors end Unit Owners tblll it bolds proceeds of lnBunmce on accoun1 of such damage or dcstruction sufficient to pay 1hc estimated con of such work. or not more than Jtlncty (90) da:r-i after the Insurance Trustee (if appointed.) notifies the Board of Dircctor.1 and the Urut Owners thas such proceeds of insurance arc insufficient lo pay the estimated costs of such work. The Jnsurencc Trustee if appointed) may rely upoo. a certificate of the Association made by its Prcsidcnl end Secretmy lo determine whether or not the damaged property is to be r<eonslnJcled or~

Plans and Soeci.fications. Any rcc.omJ.H~kd;.~bst be made substantially in accordance with the phw and speeificatiOnS' rot~c'Original Improvements and then applicable buildii:Jg 11Dd other codcS: or if not. ~ in accordance with the plans and specifications approved by the Board of Directors of the Association and then applicable building and other codes. and if the damaged property which i.s to be altered is lhc Building or the Optional Property. by lhe Owners of not less dum 80% of die 11.pplicabJe 1ntcrcsts in the Common Elements, as well 8ll the Owners of all Un.its and Other portions of the Optional Property (and their respective mortgagees) must approve the plans which arc to be altm:d.

Special Responsibility. 1f the damage is only to those parts of the Optional Property for which the responsibility of maintenance and iepair is that of the respective Unit Owom. then the Unit Owners shall be ICSpODSiblc for au nece.ssmy reconstruction· and repair, which shall be effected promptly and in accordance with guidelines estnblishcd by the Boan! of Directon (unless insurance proceeds are held by lhe Associldion with respect theieto by reason of the pmcbese of optional insurance lbCJCOn, in which case the Association .shall have the responsibility to reconstruct and repair the damaged Optional Property, providod lhc respc:cdve Unit Owners shall be Individually responsible for any amount by which the cort of such repair or reconstruction exceeds the insurance proceeds held for sud:a repair or reconstruction OD a Unit by umt basis. BS

d~cd in the sole discretion of the Association). ID all other instances, the responsibility for aJI oeccssary reconstruction and Rp8ir shall be that of the Association.

Estimate ofCogt. Before m..akins il dctmnirudion m whether or not to n:const:ruct or repair damage to propeny for which the ~iation bas the responsibility of reconstruction and tcpair, the Assoc!iation shall ·;.~Jrt:ahi reliable and detailed estimales of the con io rebuild or repair.. · '· ·· .

. ·.u;:. !·,.:!~·,.:· (a) Assocjetiop. The A9sociation sbDlJ·hbitt~e'.i~. paid upon A 's"rrcnls

made by the Association in order·to provide ~.for payment of the costs

23 Coodomtnlwn Dedamion Reaani:y Puk at Lake Mary

Book6016/Paoe23 CFN#2005206443

of reconstruction 811d repair which are the responsibility oflhe Association and disburse the same in payment of such costs.

(b) Disburgment. The proceeds of insurance collected on account of a casualty. and the swna collected from Unit Ownen on eccount of such casualty, shall consliMc a construction fund which shall be disbursed in payment of the t:osls of RCOn:struction Md repair in the following manner and order:

(i) AssociO!ion-Lcsser P•m'"'· lfthe IUllDWlt of the estimated costs of reconstruction and repair which arc the respol151biUty of the Association is less than s100.ooo. then the conslruction fund shall be disbursed in payment of such costs upon the order of the Boord of Dlrcctors of the Assoeiation; p~ld.ed, however, ~I ~pon n:qocst to 1hc ln5W'ancc Trustee CU:,~mted) by an lnstitu11onal First Mortgagee which is.a~!;im~ficiljzy of an lnlmancc policy, the proceeds of which are inCJudOil'ln~the ~ction fund. such ftmd shall be disbursed in the manner provided below for the recomtrucrion and repair of major damage.

(ii) Asp:iadon • Maior Damage. If the amoWlt of the estimated costs of rcconstJuction and repair which ~ the rcapom:ibility of the Assoeiation is more than $100,000, then the construction fund shall be disbursed iu payment of such com in the IJ18llnC'f

contemplated by subpangraph (i) above, but then only upon the fwther approval of an architect or engineer qualified to practice in Florida and employed by the Association to supervise the work.

frli) UDit Ownc:n. If there is a balance of insurance proceeds pfter payment of all costs of reconstruction and repair that me the responsibility of 1he Association. this balanec may be used by the Associetion U> effecl n:paim U> the Optional Proporty (if not insured or jf underi:risurcd), or may be distributed to Ownen of the Optional Property who have the re3p0mibility for reconstruction and Rpair lhr:n:of. The d.istributi.on ahaJ.I be in the proportion that lhe estimated cost of recomtruction and repair of such damage to ... h alfectod Unit Owner bears U> the rota! of such estimlll<d costs to all affected Uoit Owners, as determilled by the Board; provided., however, that no Unit Owner m.H be paid an amouot in excess of the estimated com of repair for his portion of lbe Optional Property. All proCeeds must be used U> elli:ot n:paim U> the Optional Property, aad if insufficient to Complete such rcp8irs, the Owners shall pay the deficit with ~ lo their portion of the Optional Property and prolliptlf eif'..~- 'the n:paim. Any balance nmutlniug after such~ ~~e)f~~~lfecltd shall be distn'lmted U> the Unit <hmers 1111d" iliC)t. l!\{~ees joinUy as elsewhere herein contemplated, in the ~ ·~tagcs as their ownership of the comm.011 elements. ·

(iv) £!!ml!!!. It shall be pmumed Iha! the first monies disburs<d- in payment of com of recomtruction and repair shall be from ins:unmce proc«ds. If there is a baJaucc in a comtrudion fund after payment of all costs relating to the reconstruction and repair for which the fund is established, such balance shall be distributed to lhc Uoit Owners in the manocr elsewhere lltalcd in the same pcl'CCDtagcs as their ownershlp of the aimmoo elements; except. however. tbll1 the part of a distribution to an Owner which is not in excess of Assessments plld by such Owner into the construction fund shall not be made ~yablc jointly to any mortgagee.

(v) Certificate. Notwithstanding the provisions herein. the Insurance Trustee sliaJJ not be required to determine whether or not sums

24 CondQmin!wn Dcchntion

Rea=cy Pvt at Lake Mllf}'

Book6016/Paoe24 CFN#2005206443

)

)

paid by Unit Owners upon Asscssmen1s shall be deposited by the Associalion with the Insurance Trustee. nor to dctennine whether the disbursements from 1he construction fbnd arc to be made upon the order of the Association alone or upon the additional approval of an architect. engineer or olhtrwise, nor whether a dUbursement is to be made ftom the construction funda nor to dctenninc whether surp!U! fUnds to be distributed an: less than the Ass<soments paid by Owneis, nor lo dclerminc the pllycca nor the amounts to be paid. The Insurance Trustee may JCly upon a certificate of the Asso<iatton, made by lta President and Secretary, as to any or Bil of such mattm BDd stnling that the sums to be paid are due and propcr1y payable, and stating the names of the payees and the amount! to be paid.

I S.S kisc:5stncnt5. If the proceeds of the insurance arc not sufficient to dchy the estimated costs of rcconsbuction and repair to be effected by the Association. or if at any time during reconstruction end repair, or upon completion of reconstruction and repair, the fi.mtb for the payment of the costs of rccomtruction and repair arc insufficient, Assessment! shall be made ag:ainJt the Unit OWners in sufficient amoW1ts to provide funds for the payment of such costs. Such Assessments on account of damage to the Insured Property shall be in proportion to el) of 1be Ownm'· respective sham: in the Common Elements. and on account of damage to the Optional Property, in proportion lO the cost of repairing the damage suffered by each Owner thereof. BJ determined by the ~iation.

15.6 Benefit of Mortgagees. Certain provi9ions in this Stdion JS arc for the benefit of mortgagees of Units end may be enforce(lb:f .. lutj.~~thcm . . '. :•·.·· .

)6. Condemnation

16.J Dcposil of Awmds with Jnsunmce Trustee. The taking of portions of the Condomioiwn Property by the ex~sc of the power of eminent domain sbaJI be deemed lo be a casualty, and the awards for that takiDg shilll be deaned to be p:roccccb fiom hmuancc on accouui: of the casualty and Shall be deposited With the Insurance Trustee. Ev= though the awards may be payable 10 Unit Ov."DCni, the Unit Owners shall deposit the awards with the Insurance Trustee: and in the even1 of failure to do so, in the discretion of the Board of DUectors of the Association,, a special Assessment shaU be made against a defaulting Un.it Owner in the amount of his award. or the amount of that award shall be set off against the swm hereafter made ~yable to lhat Owner.

16.2 Dettnnina!ion Whether to Continue Condominium. Whether the Condominium will be continued after condomnation will be determined in the DlllllD<r provided for delcrmining whether damaged property will be reconstructed and repaired after casualty. For this pUJpOSC, the takiDg by eminent domain also Blutll be deemed lo be a casualty.

16.3 Di!!bun;emtnt of Funds. If the CondOJllinium is lcnninated after ~ndemnation, the proceeds of the awanls and special Assc!SDu:Db will be deaned to be insurance proceeds and shall be owned and distributed in the lD8lllll% provided with mpccl to the ownenbip and distribudon of insurance proceeds if the Condominium is termiuatcd after a casualty. If the Condominium i9 not 1mDinatcd after condemnation. the size of the Condominlum will be reduced and tho property damaged by the taking will be made uscblo in tho manner provided below. The proceeds of the •wards and speclBl,~t11ta shall be used lbr these purposes and shall be diabune<f in'~f~fj'I1i:9v:idcd for disbunc:rilcnt of funds by the """""""" trustee (if appointed) fillCl'ca Ciisualty, or as elsewhere in this Scc!ion 16 specifically provided. ·

16.4 Unit Reduced but Habitable. lf the taking rcduus the size of a Unit and the remaining portion of the Unit can be made habitable (in the sole opinion of the Associution). the award for the takiJJg of a portio~ of the Uni I shall be used for the

25 Condominiwn Dtclamion Regency Put a Lab M.111)'

Book6016/Paoe25 CFN#2005206443

following pwposes in the order stated and the following change' l!ihall be made lo the Condominium:

(•)

(b)

(c)

Restoration of tJnit. The Unit shall be made hBbitable. If the cool of the restoration exceeds the amollllt of the award, the additional fwlds required shall be ~ against the Owner ofQie Unit.

Distribution of Sumi us. The balance of the award in respect of the Uni~ if any. shall lie distributed lo the Owner oflhc Unil end to each mortgagee of lhe Unit. the remittance being made peyable jointly lo the Owner and BUCh

mortgagce.5. ·.·5 l{ . « .. ·,: :i~t;;;!_" AdjUBtJDent of Shares in CommoirEICrricDii.i Jf'tbc fioor are. of the Unit is mluc.ed by the taking, the ~mast representing lhe shan: in the Common Elcmcota and of the Common Expenses and Common Surplus appurtenant. to the Unit shall be mluced by muldplying lhe percentage of the applicable Unil prior lo reduction by a fraction. the numerator of which shall be the area in sq...,. feet of the Unit after the takins and the denominalor of wmch shall be the mca lo aqwue feet of the Unit before lhe taking. The shares of all Uoit Ownm in the Common Elements. Common Expemes and Common SwpJus shall 1bcn be n:statcd m follows:

Q) add the total of all percentage• of all Units after mloction as aforesaid (the •Remaining Percentage Balance•); end

{ii) divide each pcrcc:ntage for each Unit after reduction as aforesaid by the Remaining Perccotagc Balance.

The result of such division for each Unit sbaJl be the adjusted percentage for such Unit.

16.S lJnit Mode t JgjnbnbitabJe. If the taking is o( the entire Unit or so rcducc.s the size: of 8 urut that it cannot be made.habitable {in the sole opinion of the ~iat.ion}. the nward for lhe taking of the Unit shall be used for the following purposes in the order stated and the following ~hnnges sh.Bll be made to the Condomini:um:

(a} Payment of Awerd. The awards shall be paid fir.rt to the applicable lnstitutionaJ First Mongagcc:s ~ emo~ ~cimt to pay oif their mortgages in connection with each Unit wltleh is nol so habitable; second. to 1he Association for any due iµid mqHild ~.1.iessments; thlld, jointly lo the affected Unit Owners and other mortg&gc:C,' of their Units. 1n no event shall the total of such distribUtiO~~F~'Qf';a ·Specific Unit exceed the market vduc o_f sucll Unit inimcdi~~Y }WoY)O\hc takina- The balance. if any, shall~ applied to repairing and Jej>laeiDg the Common Elements.

(b) Addition to Common Elements. ThC remaining portion of the Unit, if any, shall become part of the Common Elements and shall be placed in o condition allowing. to the extent possible, for use by all of the Unit Owners in the manner approved by the Board of Diiccton of the Associadoo; provided that if the cast of the wort. therefor shall exceed the baJancc of the f\md from award for the talcing, iruch work shall be approved in the manner elsewhere required for capital improvements to the Common Element!.

(c) AdiU!Jment of Sbwcs. The shme:s in the Common Elemeots, Common Expcmc8 and Common Surplus appurtcnaDI to the Units thal continue es part of lbc Condominium shall be adjusted to distribute: the shares in the Common Elem~ Common Expcnsel ~ and Common Surplus emong the ..duccd number of Unit Owners (and 11mong <educed Uuitl). Thll "1udl be effected by restating the shlucs of continuing Unit Owners m follows:

Book6016/Paoe26

26 Condomlnlwn l>c:c:llllnlion

Reaency Ptuk at Lake Mary

CFN#2005206443

)

(i) add 1hc total of all percentages of all Units of continuing Owners prior to this adjmtment, but after any adjUJtments made necessary by subsection 16.4(c) hcrcof(the "Percentage Balancc'')j and

(ii} divide the percentege of each Unit of a continuing Owner prior to lhis adjustment. bu1 after any adjustments made necessary by •ubsc:cUon 16.4(c) hereof, by the Percentage Balance.

The result of such division for each Un.it shall be the adjusted percentage £or such Unit.

(d) As'ey'me:nts. If the balance of lhc award (after payments to the Unit Owner and such owner's mortgagees as above provided) for the taking is not sufficient to alter the remllining Portion of the Unit for use as a part of 1hc Common Elements, 1hc additional funds requirod. for such purpoBCB •hall be tai!led by Assessments against all of the Unit Owncn who will continue as Owners of Units after lhe changes in the Condominimn effected by the taking. The Assessments ohall be made in proportion to the apptic:able percentage shares of those Owners after all adjustments to such slu=i effected pursuant b=to by rca8on.~f tbe taldng.

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(e) Arbitration, Hthe market vaJuc:,ff.a.u~f'.~~~ to the taking cannot~ detmnincd by agreement between thC-Utlit QWner and mortgagees of the Unit and the Association within 30 days after notice of a dispute by any affeeted party, such value shall be determined by arbitration in accordance wilh the then existing rules of the American AJbitndion Association,, except thal the arbitrators shall be two appmisen appointed by the American Arbitration Association who shall base their determination upon an average of their appraisals of the Unit A judgment upon the decision rendered by the arbitrators may be entered in any comt of competenl jQrisdictioo in accordance with the Florida Arbitration Code. The cost of aroitration proceedings sball be BSsesscd against all UnilS Owners, including Owners who will not oontinuc after the tekbig, in proportion to the applicable pcrceatage shares of such Owners as they exist prior to the adjustment! t.o such shares effected pur.1uant hereto by reason of lite taking.

16.6 Taking of Common Elemmts. Awards for the taking of Common EJemcnlS shall be used to render the remaining portion of 1he Common Elements mable in the manner approved by the Bomd of Direct.on cf the Association; provided. that if the cos& of such work shall execcd the balance of the funds from the awmds for the taking. the work shaU be approved · in lhc manner elsewhere required ·for capital improvements 10 the Common Elements. The balance of the awards for the taking of Com.moo Elements. if any, sh811 be distributed to the Unit OWnm in the shares ln which they own the Common Elements after adjustments to these shares effcacd pwsuant hereto by reason of 1he taking. If there is a mortgage on a Unit, the distribution shall be paid joindy to the Owner and the mortgagees of the Unit.

16.7 Amendment of Declaration. The chBnges·in urii~ :m: the Common Elements and in the ownership of the Common Blem.en.JS and sh8ic _in the Com.moo Expenses ond Common Surplus that arc offeclecfiij. Wfii!li\f ng'shall be evidenced by en amendmeo1 IO thla Declaration of CoJidominitlni'tliat b only n:qun.d 10 be approved by. and executed upon the dirccdon of, a majority of all Directors of the Association.

16.8 Discretion of Board. In cireumstanccs not covered by this Declaration or by law, a 2/3rds majority of Board may, upon an opinion of counsel lhat its decision is reasonable, deal with the condemnation in such reasonable manner as it determines to be appropriate under 1he ci.rctunsbmc.es-

Book6016/Pa!le27

27 Condomlnlum Dcclan:llon Rei9cy Pmi: al LaU Mmy

CFN#2005206443

17. Occupancy end Use Restrictions. Jn order to provide for congenieJ occupancy of the Condominium Property and for the protection of the vaJu~ of the Units. the ll!Je of the Condominiwn Property shall be restricted to and shall be in accorchmcc with the following provision9:

17.1 Occupancy. Each Unit shall be used as: a rc.sidcricC_·only. A Un.it owned by an individual, coiporatioo, partnership, trus~.O;a; pth;.r 'j'!QU~iarr m11y only be occupied by the following persons, and suCh pei80111~;<~~j~;- provided that the Unit Owner or other permitted occupant must resiile :~with his/ha family: (i) the individual Unit Owner, (ii) an officer, director,-stOckholder or employee of such corporation. (iii) a Partner or employee of such partncnhip, (k') lhc fiduciary or beneficiary of such fiduciBI)', of (v) pennitted occupants under a lease or sublease of the Unit (as described below). as the case may be. Occupantll of a leased or sublell!<d Unit mUJI be tho followiDg pmom, Uld sucb persons' families who reside with them~ (i) an individual Jca:sec or subl~see, (ii) an officer, director, stockholder or employee of !l corporate Jessee or subleasee, (iii) a partner or employee of a partnership lessee or sublcsscc. or a fiduciary or beneficiary of a fiduciary Jessee or sub1cssec. In no event shall oceupani:y (except for lem.porary occupancy by visiting guests) exceed two (2) penons per bedroom and one (I) person per den (as defined by the Association for the purpose of excluding from such definition living rooms, dining rooms. family rooms, country kitcliens and the like). Tho BoBid of Di=tors shell have tho power to outborin: oc:cupancy of a Unit by pernons in addition to those set forth atiove. The proviaions of 11Us Section 17.l shall not be applicuble to Units used by the Developer for model apartments, guest accommodations. sales offices or management services.

AB used herein, .. family'" or words of similar import shall be deemed 10 include a spouse, children,. Parenta, hrothcm, sisters. gnmdchildn:n and other persons permanontly cohabiting the Unit .. or togothoJ with tho Owner or penni1led occupant lh=of. As wod heroin, "gu.est" or word.I of similar impon shall include only those persom who have a principal risidcncc other dwi the Unit. Unless otherwise determined by the Board of Directors of the Association.. other than family of the Unit Owner or other pcnon(s) who pcnnancntly cobabitates in the Unit with the Unit Owner, occupying a Unit for more thm one (J) month shall not be deemed a guest but, rather, a person shall ~"'d_ccmcd a lessee for ptnpoJCS of this Declaration (regardless of whether a l~,-'" ·, '_: or rcot is paid) and shall be ~ject to the provisions of this ~ _" · · · ·1: . ·apply to lessees. The purpose of~ paragraph is to prohibit the:-· ' .:-tioD of 1hc provisions and intent of this Section 17 and the Boilrd. of Dll'Cctors of lbe Association shall enforce, Wld She Unit Owners comply with. aame: with due ~g:ard for such purpose. .

The rights of the Unit Owners to use any portion of the Master Association Property and/or the Common Properties shell be limited to the extent granted in. and subject to the restrictions of Section 3.4(d) hereof and the MaStcr Covcnan~. and the obligation for the payme!J.I of assessments as set forth iu the Master Covenants.

J7.2 ~. Children shall be pcnnittcd to :reside iu Units, subject to the provisions ofSection 17.1,aboVe.

17.3 PelS. Each Unit Owner or occupant (reprdlcsS of the number of joint owncn or OCCUJHUlls) may maintaiu two (2) housebold pets (except fish aml biids for which there is no limit on Uie number) in his Unit. to be limited to dogs and/or cats (or other household p<ts defined es such and opocllicelly pormiltod by the Asoo­ciation such as fish and caged (domestic lypO) bird.I), provided tha1 such pots are (•) pcnniltod to be so k<pt by applicable lew:s aml r<guletions, (b) not kopt, bred or maintained for any commercial pwpose, (c) not left unattended on baJconies or in lanai att8!!1, (d) generally. not s nuisance to residenta of othct Units or of neighboring buildinp and (e) not a pit bull, rottwcilcr, dobenna:n, press canario, chow, wolf hybrid, akite. or huWe or otha' breed considered to be dangerous by the Boud of Directo~: provided that neither 1hc Board nor 1he Association shall

Book6016/Paae26

28 Condolllinlum Dc:clanrlon

R< ... ., ..... , ~,~;: :; :11::i~\· CFN#2005206443

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17.4

17.5

17.6

be liable for any peminal injUl'J', death or property damage 1CBulling from a violation of the foregoing and any occupant ofa Unh com.milting such a violation shall, and does heJCby, folly lndcmnil)' and hold hannleaa the lloard ofDi=to10, the Developer. ea(lb Unit Owner and the AsSoeiation in such regard. Unit Owners must pick-up ali solid wastes of their pc!S and dispose of such wastes appropriately. All pets (including cats) mmt be carried or kept on a leash no more then six (6) feet in length Ill all times when outside the UruL . No pell may be kept on balconies when the Owner is not in the Unit Without limiting the generality of Section 19 hereof, violation of lhe provisiona of this paragraph shaJI entitle the Associlllfon to all of its rights and mncdicS1 including, but not limited 10, the right lo fine Unit Owners (as provided in any applicable rules and regulations) and/or to iequire any pet to be permanently rcrnovtd ftom the Condominium Property upon three (3) days' notice. This Section 17.3 shall aot prohibit the keeping of fish or a caged household·typc binl(s) in a Um~ provided that a blrd(s) is not kept on Limited Common Elements and does not bct:ome a nuisance or an.aoynncc to nejgbbors.

Alterations. Without limiting the generaJi~.of.SeCil'oD 9 .. 1 hcreo~ but subjeCt to Section 10 hereof, no Unit Owner shall ctUSc:,Qf!!iltOW:·improvcmcnts or changes to any Unit,, Limited Common EJcnients ~t thereto or Common Elements, without obtaining the prior writtcu consent of the Association ("m the manner specified In Section 9.l hereof).

Ilse of Common Elemep.1!1. The Common Elements shall be used only for fiunishing of the seM:ccs and facilities for which they arc reasonubly suited and which erc incideDt to the me and occupancy of Units.

Nuisencey. No nuisances (as defined by the Association) shall be alto~ on the Condominimn Property, nor shaJI any use or practice be allowed which is a so\D'Ce of annoyance to residents or occupants of Units or which interferes with tbC peaceful possession or proper use of the Condominium Property bf ils residents or occupants. No activity specifically permitted by this Declaration shall be deemed 11 nuisance.

17.7 No Improper Uses. No improper. offensive, h.a:ai:rdous or unlawful use shall be made of the Condominium Property or any part thereof, and llll valid lows. zoning ordinances and rcguJations of all governmental ~les having jurisdiction thereover shall be observed. Violations of laws, orders, rul~. regulntions or requirements of my govemmenteJ apcy having juri3diction thcrcover, n:lating to any portion of the Condominium Property, shall be concctcd by, and at lhc sole expense of. the party obligated to maintain or repair BUCh portion of the Condominium Property. as elsewhere hercJn set forth. Notwithstanding She foregoing and any provisions of this Decllll'8tion, the Articles of lnco:poration or By·l.a~ the Alisociation shall nOt be liable to· any person(s) for its failmc to enforce the provisions of this Section 17.7. No activity epecifically permitted by this Declamtion shall be dc:em.cd to be a violation of this Section.

17.8 floor Coyerings Without limiting the e#~j~~~<Ji:~~:8Jlproval requirements set forth in Sm:ion 9 of tbia Declaration, rib' h!W-~~ floor coverings such as wood, tile. marble and stone shall be iPSlBUed in im:r Unit or its appurtenant Limited CominOn Elements unless same is installed with sound-absorbing backing meeting lhc requirements, &om time to time. of the Msociation.

17.9 Exterior lmpromnents; t ed1s'Pins· Without limiting the generality of Sections 9.1 or 17.4 hereof, but subj= to any proviaion of this Declmarlon specifically pc:noittiDg same. no Unit Owner shall cause anything to be affixed or anacbcd to, hung, displayed or placed on the cx\Crior walls, doors, balconiea or wiodo~ of the Building (including, but not limited to~ awnings. signs. storm sbutten, s.Creens, window tin.ting. fWniturc, fixlure5 and eqWp:mc::nt), 001 to phmt 01 grow aay type of shrubbery, flower, tree,, vine, ~ or other plant life outside his Unit, without the prior written cement of the Association.

29 Cofldomlnlum I>cc:larlllion Regency Pule at Lake Mazy

Book6016/Paae29 CFN#2005206443

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17. IO Relief by Associptjon. The Association shall have the power (but not the obligation) to grant relief in particular cin:umstanccs from the provisions of specific rcsbictiom contained in this Section 17 for good cause shoWlL

17 .11 Effect on Deycloper: Association. The restrictions limitations set forth in this Section 17 shall uot apply to the Developer or to U.nits owned by the Developer. The As~iation shall have the power (but not the obligation) to grant nilicf in particular circumstances fiom provisions of $J>C(:ific rcstrictiom contained in this Section 17 for good cause shown.

17.12 Cumulative with RCJlrictions of Master Covetl!lnts. The foregoing restrictions shall be in addition to, cumulative wjth, and not in derogation of those set fot1h in the Mester Covenants.

J7.l.l tlse of Master Associption Property and the Common Propertiq. Without limiting the generality of any provision of the Master Covenants or this Declaration, aJl Owners sbfi..11 comply with any and all rules aod regu]atiom which may be promulgated and adopted, from time to time. by the Mr.ster k'sociation with respect to use by O'i'r'Ders (their lessees., guests, tenants end invitees) of any portion of the Master AssoclBlion Property (including without Jimitlltion the Common Properties as defined in the Master Covcnaots).

18. Selling Mortgaging and J,easlng ofUnits.

In order to insure 11 community of congenial residc:olll aud °"upants and protect the value of the Units and to further tbe continuoUB humoru.,us dcve1.opmen1 of the Condominium community, the sale oDd transfer of Units by ariy' awD.C(s.Qll be subject to lhc: following provisions. · ·· · ~,. .... ,

18. l SJlll. There are no rcstriclions on the sale or transfer ~fUnits.

18.2 ~. Leasing of Units is pcnnittcd without the coDSCD1 of the Board of Dircctoni. No portion of a Unit (other then an entire Unil) may be rented. AU leases shall provide (or be automatically deemed to provide. absent an express statement) that the Association shall have the right to tenninaU 1hc.leasc upon default by the tenant m observing any oflhe provisions ofth'e Master Covenants, this Dec;:lamtion. the Articles of Incorporation and By·Laws of 1he Association, applicable rules ond regulations. or other applicable provisiom of any BgRCJDent. document or imtrumcnt governing the Condominiwn. Regardless of whether or not expressed in the applicable lease, the Unit Owner shall be jointly and severally liable to the Association for the acts and omissions of his tenant(s) which constitute a violation of, or non--compliancc ·with. the provisions of this Declaration and of any and all rule.s and n:guJations of the Assoc;iation.

Nothing herein shall interfere "with the accas rights of the Unit Owner landlord PllmlOlll to Cbaptcr 83, Florida Statutes. The Association shall have the right to adopt .rules to prolu"bit dual usage by a Unit Owner and a tenaut of Associalion Property and Common Elements otherwise readily available for use generally by Owners.

18.3 No Severance of Ownership. No part of the Common Elements may be sold. conveyed or otherwise dbpo.scd of. except as an appurte:nance to the Unit in connection with a s.ale, conveyance or other disposition of the Unit to which such interest is epplD'tCD8Dt. aod any aale. convcr~ o,r, oJber dhposition of a Unit shall be deemed to include that Unit'! ~( iatcrw io the Common

Elements. · ·;·.)t'.~~~;~t·(.'.'t;~ ·. J 8.4 Gifts and Devip etc. Any Unit Owner shall bC free to convey or 1ransfcr his

Unit by gift. to devise hfs Unit by will, or to have his Unit piW1 by inteltacy, without. JCStriction; provided. however, that each auccceding um1 Ownor shall be bound by, find his Unil aubjecl to, the provisions of this Section 18.

lO Condomlnlwn Declaration Rqeni=y Park at Lake Mary

Book6016/Paae30 CFN#2005206443

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I 8.5 Developer Leasing. 11 is understood and agreed by all parties hereto Bod all Unit Owncn that for such period of time as Developer deems appropriate. Developer may actively undertake a leasing and/or lease with option to purchase pro8f&DI with respect to Units owned by it Actordingly, certaln Units may be occupied by tenants of the Dcvcloper under tease agreements or month to month tenancies or other types of tenancjcs heretofore or heieinafter consummated and agreW upon. Such tenants of Developer shall have the full right and authority to continue to occupy said premises in accordance wilb their lease qrcements. -rental agreements or other tenancy agtQCtnents and to use and enjoy on a non-exclusive basis all Common. Elements of the Cond~wn without eny cost or expense. Developer reserves the right to maintain a leasing as well as sales office Within che Condominium for so long as Developer is offering Units for sale in the onlinary course ofbwiness.

J9. CompJiance and Default. Each Unit Owner 8Dd every occupant _of a Unit and lln:: Association Shall be governed by and shell comply with the tcn:m of the Masler Covenants. this Declaration of Condominium and all exhibits &mlCXed hereto, and the rules and regulations adopted pursuant to those: documents. as the same may be amended from time to ti.me. The Association (and Unil Ownm. if approprialc) shall be entitled to the following relief in addition to the remedies provided by the Act:

19.J Manda!:nry Non-binding Arbitmtion ofI>imutAA. Prior to the imtitulian of court litigation, the parties to a Dispute shall petition lhe Division for non-binding arbitration. The arbilnltian shaU be conducted iu:cording to rules promulgated by the Division and before llI'bitra!otS employed by lhe Division, The filing of a petition for arbitration shall toll the ~licable $tulc of limitdon for the applicable Dispute, until the arbitrati~-~ are completed. Any arbitration decision shall be presented to-1,hc_:P!!}Jics in Mi.ting. and shall be deemed final if a complaint for trial m; nm!!! is riol 'filcd in a court of competenl jurisdielion within thirty (30) days following the issuance of the arbitration decision. The prevailing party in the arbitration proeeeding shall be awarded attorney's fees and costs incum:d in wnndon With the proceedings. The party who files a complaint for a trial de novo shall be assessed cbc other party's arbib"ation costs, courts costs lllld other reasonable costs,, including, without limitation, attom~ fee&, investigation ex~ and expenses for cxpcn or olhi;r testimony or evidence incurm:I after the arbintion decision. if the judgment upon the trial fil:: .MY!! is not mote favorable 1hao the arbitration decision. If judgment is more favorable, the party who filed a complaint fOI' trial !k. povo &hall be awmd,ed reasonable comt costs and Dttomeys' fees. Any party to an arbitn1.tion proccediag may enforce an arbill'ation award by filing a pclition in the circuit court for the circuit in which the arbitration took place:. A petition may be granted .unless the time for appeal by the filing of a eompJaiD1 for a ~ !I!: D.QX!! bas expired. If a complaint for a trial ik ~ has been fiJc:d, a petition may not be granted with respect to an arbitration award that bas been stayed.

19.2 Negligence. A Unit ·0wner shall be liable for the expense of any maintenance. repair or replnecmcnt made necessary by bis negligence or by that of any member of his family or his or d;tcir suests, employees, agents or lessees. but only to the extent such expense is not met by the proceeds oflnsunnce actually collected in respect of such negligence by the Association.

19.3 Compliance. In the event a Unit Owner or occupant fail! lo maintain a Unit or fails to cause such Unit to be mllintaincd, or filils to observe mid perform all of the provisions of the Declaration. the By-La'WB, the Articles of lnoo1p9ration of the Association, applicable rules and regulations. or.ant. other agrceznent, documml or instrument affecting the Condominiupi Prop~irtiJ~ _the UWUlr% required, the Association shall have the right .to ~.:'li(#~~llrl of equily to JllQuire pcrfonnancc and/or compliance, to"impoSC',"a_'.Df:.ilff-'~~c ·finc3, to sue io a court of Jaw for damages. and to charge the Unit OWtil::i for ·the iUDl3 ncccssiuy to do whatever work is~ to put the Unit OWncr or UJiJt in compliPncc.

Book6016/Paoe31

31 Condominium Dcclar.tion ~ hrkall..ab Muy

CFN#2005206443

19.4 Costs or Attomevs1 Fees. In any proceeding arising because of an alleged failure of a Unit Owner or the Asa:oci11tion to comply with the Rqllirementa of the Acl, this Dcc:laration, the exhibits annexed hm:to, or the rules and regulations adopted pursuant to said documents, as the same may be emended &om time to time, the prevailing party shall be entitled to recover the costB of the proceedina and such reasonable attorneys' fees (including 11PJ>Cllate 11ttomcys' feel). A Unit Owner prcvaiJing in an action with the Assot:iation. in addition to recovering hb rcasonnb)c attorneys' fees, mil)' recover additional amounts u determined by the coUJ1 to be neceasary to reimburse the Unit Owner for bis share of Assessments levied by the AssociatiOn to fund its expenses of the litigation.

19.S No Wajw of Rights. The failure of the Association or any Unit Owner to enforce auy covenant, 1e3triction or other provision of the Act, .this Declaration. lhc exhibits ann~ed hereto, or the rules end regulatiorui ado~ pursuant to said docwncnts, as the 6BlllC may be llmended from time to time, shall not constitute a waiver of their right to do so thereafter.

20. Tcrminalion of Condominium, The CondomiDiwn &hall continue until (i) tmninatcd by ~ty loss, condemnalion or eminent doIDBin,, as more particularly provided in tills Declaration, or (ii) such lime as withdrawal of the Condominium Property from the provisions of the Act is authorized by a vote of Owncn ownins at Jcast 80% of the applicable lntere£tS in the Common Elements and by the Primaly Institutional First Mortgagee. In 1he event such withdrawal is· authorized a,, afoiesai~ 1he Condominium Propeny shall ~ subject to an action for partition by eDy Unit Owner, mortgagee of a Unit or licnor as if owned in common in which event the:~ procced!I of sale shall be divided among all Unit Owners in proportion to· their ~ti Ve interests in the Common Elements, provided, howevcr, 1hal no payment 3~ bC ~C:iP, a Unit Owner until there bas first been paid off out of his share of such~~ ~'qll fuortgagcs and liens on his Unit in the order of lhcir priority. The termination of lbe Condominium, as aforesaid, shall be evidenced by a certificate of the Associa1ion cxa:utcd by its President and Secretary, certifying as tO the basis of the icnnination and said certificate shall be recorded BID.ongthe public records ofthc: County.

This Scc:tion may not be amended Without the c:onscnt of the Primiuy Iostitutional First Mongagce and lhc Dc:vcJoper as long as it owns any Unit.

21. AddidonaJ Rights of Mortgagw and Others.

21.1 Availability of Association Documents. The Assoc:iation sh.all have cunent and updated copies of the following available for inspcction by Institutional First Mortgagees during nonnaJ business hour.; or under other reasonable circumstances as ddennined by the Board: (a) this Declaration; (b) the Articles; (c) lhe By-Law1; (d) lhe rules and rcgulaliom of lhc As>ocialioo; and (c) lhe books, rcrords and financiel slalcm.cnts of the Association.

21.2 ~- Any holder, insurer or guarantor ofa mortgage on a Unit shall have, if ftrSt requested in writing fiom the Associarlo~ the righ1 to timely written notice of:

(a) any condemnation or casualty loss affecting a material J>Ortion of the Condominiwn and/or Association Property or the affected mortgaged Unit;

(b) a slxly (60) day delinquellcy in the payment of the ~ots on a mortsaecd um~ ... ~~;j;, ~

(c) the occurrence -~r~~~').~::.:.!~cellation or material modification of any .insurance policy· ~ed by the .Association;

(d) any proposed action which n:quircs the consent of a specified number ofmortpgc holdmi.

Book6016/Paoe32

32 ConWlmlnlwn Dccl81alion Regency Park 11 Lab Mary

CFN#2005206443

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21.3 Addjtion11I Rights. JnstitutionaJ First. M911BBB~ .. ;;hall have the right. upon writlen requesl to the Assoeiation, 1o:·(a) tece..i".c'. .. Q.·~py of an awlited financial statement of the Association for th~ ~~a,ij:~ :~ng fiscal year if such etatement.s were prepared; and (b) ~ivC: ni:lfi~ of end attend Association meetings. · · -~: · · ·

22. Covenant Rtmping With the Vand. All provisions of this Declaration, the Articles, By­Laws and appJlcablc rules e.nd regulationa of lhe Association. shall, to the extent applicable end unless otheJWise eicprcssly herein or lherein provided 10 the contrary, be perpetual and be <onst!Ucd to be covenants running with the land and with every part thereof and interest therein, and all of the provisions hereof and 1hcreof shall be binding upon and inure to the benefit of the Developer and subsequent owner(s) of the Land or any part thCR:Of. or interest therein. and 1heir respective bciB, personal rcpxsentatives, succ.essors end assigns, but the same ere not intended to create nor shall they be construed as creatina any rights jn or for the benefit of the general public. All prcsc:nl nnd future Unit Owners, tenant! and oecupants ofUnita shall be subject to and abalJ comply_with the provisions of the Master Covcrum~ this Declaration and su1;h Articles. By.Laws and applicable rules and regulations, u they may be amended fiom time to time. The acceptance of a deed or conveyance, or the entering into of a lease, or the cnrering into occupancy of any Unit, shall constitute an adoption and ratification of the provisions of the Master Covenants. this Declaration. and the Articles, By-Laws and applicable rules 1111d regulations of the Association. as they may be Bmended from time to lime, iJKluding, but not limited to, a mtification of any appolntmeots of attorneys-in-fact contained herein.

23. The Master Association. The Condominium is part of a Community known as The Crossings (the "'Community"). The Common Properties of the Community arc govemed by the Master Association pumwmt to the Master Covenants. The Master Covenants also contain certain rules, regulations and restrictions rclating to the use of such Common Properties as well as the Condominium Property (including Units). Each Unit Owner will be a member of the Master Association and will be subject to all of the: terms and conditions of the Master Covenants, es am~ded lµld. au~~cntcd from time to time. Among the .powers of lhc· Master Associ~Oo ~ tP-'~. ~~ ·~~. ~sess Unit Owners (and other members of the Master Assoc;:iatio.n) fof:li·.ptp;-~~··ortbc expenses of the operation and maintenance fmcluding lhe man&gCm.eDrtte;·~ating to) of such Common Properties llDd to impose and foreclose liens hi the cvcni such assessments arc not paid when due. Except for thoSe lnstences where the use b limited punnmnt to the Master Covenants, the Unit Owners shall be entitled to use all of said Common Properties ln accordance with and subject to the ttm)!!I of the Ma.!ler Covenants. The Master Association may Impose certain obligations on the ~ssociation includ.ins. but not limited to, obligating 1he Association to collcci Assessments due the Master Anocialion despite the fact that such Assessments are not Common Expenses of the Condominium.

24. Additional Provisions.

24.1 Notices. AJJ notices to the Associetion requiml or desired b~ or under tht By-LaW> of the Associalion shall be sent by =rilied mail (""1ml receipt requested) to the Association in care of its office eJ the Condominium, or to such other address as the Association may hereafter designate llom lime to time by notice in writing to all Unit Owners. Except as provided spc:cilically in the Ac~ all noti~ tO any Unit Owner shall be sent by first clan mail to the Condominhun address of such Unit"OwnC:r, or such other addicsl as may have been designated by him from time to time. in writing, to the AssociatiOD- AU notices to mortgagees of Units shall be sent by first class m.ajl to lhcir respective addresses, or such other address as may be designated by them from time to time. in writing to the Association. All notiCC:!I shall be deemed 10 have bcco given when mailed in a po'1agc prepaid sealed wrapper, except notices of a change of.....,_, whlch shall be deemed to have been ·given when received, or !i business days after proper mailing. whicbcvcr shall first occur.

24.2 Interpretation. The Board ofDim:tors of the ~i&:tjon shall be responsible for int~g 1hc.provisions h~f and·i?f 8.ny;~f·:~· Exhibi'91111ecbtd h.crcto. Such mtcJpreta.tion shall be bmding upo.1!'.,~.~~~~s whony 1.1JU'C810nable.

33 ... ;. ~?.,~1\ .....

Condominium Declar.iion Regency Park al Lake Mary

Book6016/Paoe33 CFN#2005206443

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)

An opinion of legal counsel that any interpretation adopted by the Association is not unreasonable shall conclualvely c11tabllsh the validity of such interprewion.

24.3 Momagee11. Anything herein to the contrary notwithstanding, the Auociation shall not be responsible lo any mongagee of a Unit or lienor of any Unil hereunder, end may assume the Unit is ft'cc of aoy au ch mortgage. or liens, unless writt.cn notice of the existence of such mortgage or lien is received by the Association.

24.4 ~- There ii hereby incorporated in this Declaration all materials contBined in the Exhibits annexed hereto, except that as to such Exhibits, eny conflicting provisioru1 sel forth lhcrcin aa to their amendment. modification, enforcement and other matters shall control over those hereof.

24.S Si1mature of Pmident and Seorctarv. Wherever the .signature oflhe President of the A:i!OCiation is ~uircd hereunder, the signature of a vice-president may be substituted therefor, and wherever the signature of the Secretary of the Association is required hereunder, Che slgrmture- of an assistant secretary may be subs1ituted therefor, provided 1hat the same person may not execute any single instrument on behalf oftbcAssociation in two separate capacities.

24.6 Ooveming Law. Should any di5)lUte or litigatiop mise·betwten, any of the parties whose rights or dulics arc affeolcd or d~ ~-~ Declaration. the Exhibits annexed hereto or applicable rulcS·Bii~=rC_~~~-~~ted pursuant to such documents, 81 the same msy be amended rrom iim~ to time. said dispute or litigation shaU be governed by the laws of the State Of Florida.

24.7 Severability. The Invalidity in whole or in part of eoy covenanl or restriction. or any section, subsection. JCDtcncc. clause. phrase or word. or other provision of this Declaration. the Exhibits aDnexed hereto, or applicable rulea and regulations adopted pursuant to such doc;umcnts, as the same may be amended fiom time to time, shall not affect the validity of the remaining portions thereof which shall remaio in full fDn:e qad cflecL

24.8 Waiver. No provisions contained in this Declaration shall be deemed 10 have been waived by reason of any failm:e to enforce the same,, without regard to the number of violations or breaches which may occur.

24.9 Riajfication. Each Unit Owner, by reason ofhavins acquired ownership (whether by pun:hase, gift, DpcraliOll or law or Dlht<WiJc), and each DC<upml or. Uni~ by reason or his OCCUj18I1<:y, shall be doomed to have acknowledged and o8Rcd 1hat (i) all of the provisiom of Ibis Declaration. and the Articles and By~Laws of the Association, aod applicable rules and regulations, are fair and rea.sonable in all material ROpeclS, and (il) automlllicaJJy COllSCDI ID any =ing, replaldng. covcriant in lieu of unity. of title, cbao&ea addition 01 deletion lawfully made ID, on or to the Condominium Property or ~Dining property by the Developer which are implemented in KCOtdancc with the requin::m.ents of this Declarution md the requlmneuts orF.S. 718.110(4), and iu suclJ rogan!, each °""''"or occupant or a Unit. hen by designates, the Association to act as ~t !'Dd auomcy-i.n-fact bcbalf of the Owner to consent to any such rezoning. change. addition or delttion. If requested by Developer, each Owner shalJ evi~encc their consent to Rmning. change. addition or deletion in writing (p_rov.idcd! PQ}V~ver. that the refUSaJ to give

8UCb written consent shall nor obvi~ '¥:~"!;.!fi~~~-oftim provision). ,. . . ·- ,. . .

24.10 Exeqrtion of Documents; Attpmcy-in-fas:t: .~wJib6\d'i1Imiting 1bc gc:ocnslhy of other Scctiona of this Declaration end without .Neb other Sections limiting the generality hereof, each Owner, by reason of the acccpta.ncc of a deed to SllCb Owner's Unit. hereby agrees to exeic:ute, Bl the Jtlq\1CSt of the Developer, aJJ document& or consents which may be required by all governmental agencies to allow the Developer end its a:ffill81cs to complete the plau ofdevelopmenl of the community as such plan may be hctcaftcr amended. and each such OWner further appoint! ben:by and thcnby the Developer as such Ownc(s asentand attomey-in-

34

CcodomlnJum ""­Regency Part al LIQ Mar)'

Book6016/Paoe34 CFN#2005206443

j

,: .... _;. ~ ·:·',.

) fncl to execute, cm behalf ruid In the nmnC ~r:;~J~h· ~>Wnora, any nnd all of 111J1:h documc:n111 or conacnta, ·n.i11 Puwt1r nr 1110111t1y 1!1 lmv11cnble and coupled with nn Interest. The provlalon11 of thla Soctlon may nol be amended wl1hou1 lhc eonaont of the Developer.

)

)

24.11 Oender. Plwa)Uy. Wherever tho context ao pcllTills, the 1lngulat 1holl lncludr lhe plural, Ibo plural 'hall Include the alngular, and tho u!lo of MY ucndcr 11ha11 be deemed 10 include all or no gender•.

24.12 ~. The captions hcroirt and Jn lhc Bxhlblts o.nncxetJ hcrv10 are Inserted only u a maucr of convonleni:o and fur ease of rofercnco and In nn way deflno or limit lhe scope oftho parllculardocumcnl or any provision lhoreor.

24.13 DIS<!Blmcr ofWD!JBOliC!. EXCEPT AS IMPOSED BY THE ACT (AND THEN ONl.Y TO THE EXTENT TllEY CAN NO'I' DB DISCLAIMRD), NO WARRANTIES OR REPRESENTATIONS OF ANY KIND, HXPRESS OR IMPLIED, HA VE DEEN OIVl!N OR MADE BY THE DEVELOPER OR ITS AOENTS OR EMPLOYBBS JN CONNECTION WITH ANY PORTION o~· THE CONDOMINIUM PROPERTY (INCLUDING nm COMMON ELEMENTS AND THE UNITS) OR ANY PORTION OF THE COMMUNITY, THE MASTER ASSOCIATION PROPERTY (INCLUDING 1lll! COMMON PROPl!RTIBS), ITS PHYSICAL CONDITION, ZONING, <."OMPLIANCll WITH APPLICABLll LAW, MERCHANTABILITY, HABITABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR IN CONNECTION WITH THI! SUBDIVISION, SALE, OPERl\TION, MAINTBNANCI!, COST OF MAINTENANCE, TAXES OR RllOULATJON THEREOF OR IN CONNECTION WITH THE OPl!RATIOI'! OF Tf,fl! ASSOCIATION. ALL OWNERS, BY VIRTUE OF THEIR A.CCEl'.'f~NC!!. OF TITLll TO Till!IR RESPECTIVE UNITS (WHETHER FROM".'lllll b$VElOPBR OR ANOTHER PARTY) SHALL BE DEEMED TO HAVE01WTOMATICAIJ,Y WAIVED ALL OF THE AFORESAID DISCLAIMED WARRANTil!S.

35 Condominium Dc:eluaslDJJ RA!pncy Park m Lake Mary

Book6016/Paoe35 CFN#2005206443

)

STATE OP FLORIDA

Book6016f Paoe36 CFN#2005206443

)

JOINDERAND CONSENT OF MORTGAGEE TO DECLARATION OF CONDOMINIUM

BEGllNCY PA!IK AT LAKE MMY. A CON!lOMIN!!1M

Fremont Investment & Loan. a California 1.Dd~al-Bank ~ ,~ortppej. the owner ond holder ofa Mortpge ocd FbclUn! Filing. dated Ma7.27; 2005,;lilldJ<OOrded on June 2, 2005, 2005, in Offioial -rda Book 5746, l'aao 1693, of tho Publio:·-idJ of Semioolo County, Florid~ hen: by joim ia to tho execution ~ and OOillCDtl to the Dccll:mtion of Colldominium of REOENCY PARK AT LAKE MARY, a Condominium.

Nothins; contained huein shall be deemed to or ln miy WI)' limited or urm 1he mortpge bcld by the Mortgagee or the priority of the lien created 1hereby and the sole JIU1POK of thb Jolndcr and CoNCOt is to aclmowlodgc tbo comont of Ibo Mortppo to tho aforeaid Dcclan.don of Condominium.

Mortg91ce makes no warranty or my reprcacntetion of any kind or DBbm conceming the Decl11IBtion. fill)' ofit3 or their cerms or provhiom. or clie lepl sufli~iency thcrcot; and diAvows any such Wllm!llty or n!pm:SODtation as wen u 111y pnrtjGipation In thD co11Ycrsion of 1hc AJJ&Utmcots in Lake Maly, Florida into a condomlnlwa regime (tho "'Condomlalum")., and doea not asswne and shall not be responsible for any of the obliptiOM or liabilities of the ~1*1' conlaincd in the Declamtion or tho ~.(if uy) or other d.ot:ummts iaucd in connection with the promotion of the Condominium. None of the reptt1SCUbd:iom COD2ained in the pmpootua [of ,.y) or other documoolS llhall be doomed to hll"" boon made by Mor!Piee, oor WI! chcy be oon.sbued to creato any oblige.lion on MOJtpa:co to BP)' pcnoa l'Cl)'ina: thtmon. This consent is limited to the purpo.se:s and rcquiR'IDCldJ of Soctiou 718.104 IDd 718.403, Florida S~ and doee not af6;:ct or impair the rlsfda and JaDCd.im ofMortpgeo N aa Jbnh in the Mortgage or the Doclaralion.

Thi.s instrument is executed end delivered by the unden:igocd punuant to and for the pwpoac o! complyins with §718. l 04(3)1 Florida. Statutes.

Wi1nesse.s:

Pri~&c;$~£ U;J (

Pri~f-r~2 (! .. .r.... )

200!1,

My commission cxpitc.!I:

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FREMONT 1NVES'JMENT & LOAN, a California iDduo1rial bank

By:~ Print :i. __ '. •. iO'] Titi~;;c ,• ··-··----· .

Book6016/Paoe37 . .j .

CFN#2005206443 ·~~ ,-,, .. <f•c. .. f. ,.i, .

CAUFORNIA AU,.PURPOIE ACKNOWLIDGM!NT

State cl C11lltomla

Ct:iunly of • Or•'tj e

0n 'lr."··~"-21 @S:bet0t•me,_'i:>..~0 ="'"'"'!!''=i;r.a•:;#'!'!!!'J~,!l~IB==~--' -- _-.1_111_....__ ...... ...,_, pon"""" __, M..!/L... <S.,1111 ........... ~

~1'0nllly known lo ma :J proved 1o me on the basla ol sal!sfactOIY .......... to be th• penson(8) whose rwna{1) lafare 1ubacr1t1ed to lh• wtlhln ln1bumen1 and a~ to me tha! he/theJlhey necut.d !he Mm• Jn hl&lher/lh1lr authorized capacily(laa), and lhal by hlllh11rllh.1lr li;Mhn{•) on lht lllltRrmtnt tht person(1), or Iha entity Upof'I behaH ol kh the pen.on(•) ...... ..-'!)ljl"j~ ..

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O..C:rlptlon of Attached Document 'OOeOfTyp&OfDocurntnt ____________________ _

Documtnt oai.: ________________ NumberdPagee: ___ _

Slpi(1)0!h81'Then NamedAbove: _________________ _

Capoclty(leo) Claimed by Signer Signer's Name: ___________________ _

" I lnchtdual loPdhntl...., ·1 Co!poram Olrar-lllle(e): ______________ _

:i Partner - 0 limited c; Genet'al :J Attomey.fn.fat'I iJ TNltH J J Guartfian ar Couorvaior

D°"""----------------------Slgn&rl1 Rtpre&enting:, _______________ _

o•---.-·-""-""·'°'.__.~c.11J1•t,,_. ___ ""

Book6016/Paoe38 CFN#2005206443

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EXHIBIT I

I er! l)ttpdpdop

Tha\COl\aln reBl PfOPOf1Y - In Ille City oll.ab Maiy', Coolllj .,....,_,state DI-, boVlng 1 street~ of 733 sectel Harbor Un.. mos. Pf;rtk:Ul9rty dnatbed n fo8awr. .

PljA5E I AND D OOMlllllB>:

OOMMEICING ATlHE NOKlliWE5T OCRNER OF SECIJOH 19, TDWl!SHJP 211SOUIH,IWIGI!30 l!ASI', RUH SW52'+1't, ALONG 1HE NOIOll UHE OF SAID 5ECllOH 19, A DIS!l\NCE OF 12114.0ll Rn lll A POINT OHM EAST RIGHT-Of.WAY UHi! OF~ EM!o!A ll!WJ; . 1HalCE 500'091rN, Al.ONG 5"11) R.IGHr-Df.WAYil,'.DISTANC£ OF

~:..~Rf:'.~:.'~~~~~~JE· NOR'1'ffASTEPJ.Y, HA.YING A a!NTRALAHGlEOF !ll~ MDA RADIUS OF 150.00Pa:T;1ttStCE fROMA TNIGafT BEAAJNG OF S26'01'JD"f, IUJH SOl/nlEASlEU.Y>ALOHG lHEARCOF SAID OJIM, A DISTANCE Of' 56.83 nE'JlO'TliE.POJNT OF TANGENCY; lHEffCE 517"43'3~"1', A DISTANCE OF 41.!18 F££T 1.0 1HE POINT 00 WRVATURE OF A WRYE CXlllC\VE SOl/lffWl!$IERlY, HAVlllG A CEllt'P.ALHIGLE~ ~1'139 ANDAMDIUSOF250.00n;ET, 11£HCE RUN SOOIHEASTERl.Y Al.OHGlHI! ARC Of SAID WRVI!, A DISTAACE OF 203.75 f£E'l'10 THE P0JHT OF TANGeNCY; 11fENCf SOlo01'5l"'E, A DISTANCE OF 133.76 FEJrrlOTHE POINTOFOllVAl\JRECOHCAVE NORlHWESTERLY,HAYING A a:rmw..AHGLE OF 619112'41• AHO A RADIUS OF 250.00 feEI', 1tEHCe RUH sountWES1ERL Y Al.DNG THE NfJ:. OF !WDCURVE, A l>ISTAHCe OF 2.65.36 FEITTillltE POJNTOF iANGalC'f; 1lf9KES60'0Ct'49"W, A DISTANCE OF 167..44 R:E'flD 'THE fOJHT OF QJRVA11JRE OF A O.JRVE OONCAVE SOUIHUSm\1..Y, HAVING A aNTRALANGLE OF 88"27'21• ANO ARADIUS OF !DO.OD fEl!r,lHENCE RUN SQUlllSU.Y AUl!IG1llEARCOFlWI> WRVI!, A DISTANCE OF 154.39 Rnlll lHE l'OINTOF TANGEllCY; 1HEHa S2Jl"25'3S"f, A OISTANCE OF 162.55 ffET lll TIE POIJfT OF WRVATURE OF A CUIM CXlllC\VE SOOIHWES1alLY, HAWIGA tefTMl. ~OF 27-Wtr AND A AADlU!i OF600.00 FElrr, 'DENCE JU.W SOllll£A51EJU.Y ALOHCi 1HE Nie. OF SAID OJIM, A D!Sl'AHCE OF29'3.09 fEETTO lliE POINT.OFT.w;:acr;lHENCE ~11-E, A DISTANCE OF 65.25 fB:T TO 'lHe POllfT OF eul\'Al\JRE OF A aJR\IE CONCAVE lK>R'TliEASIERLY, HA.VJNG A camw.NG.E OF 7r'18'33• N10 A RADIUS OF 46.51 FEEr; THENCE RUN SCIUTHEASl'ERLY ALOHG 1HE ARC OF SAID WRYE, A DISTANCE OF 62;711 ff£r llllllE l'OIHT OF REYERSE OJRVA.1URE OF A CJRVE CONCA\'E sountwESTERLY, HA.YING A CEN1M. HIGlE OF tr57'23• NiD A ftADRIS Of 285.75 FE£T; THENCE RUN SllU1HEASTERI. Y Al.ONG 1HE ARC OI' SAID CIJRVF, A DIStNtCE OF '1.s-t FfETTO THE PCllNTOFT~ ;TieKE S58"48'27"E, A DISTANCE DI' 103.45 FEEr 'JO A l'OlllT ON 1HE l<OJmlBU.Y IUGHT·OF-WAY LIM! Of GRmiWAY ~ARC, SAJll

. PDINTllEIHGDNA<llR'IE<Xl!IC\VE~'/;lll\\/mGA CENIRA1. ANGIE DI' 05"58'21" AND A RAl>Jl,is'\jf ~:l'J;E'r, "MHC£ ~A TAHGalT Jlf.ARJllG OF sS0'57'5o"i'1;~·.·· .

A-1

Book6016/Paae39 CFN#2005206443

SOUlllWESTEJl.LY AlllNG SAID RIGHT-OF-YIAY UNE AND 1lfE ARC OF SMD CUIM. A DISTNICE Of 131.38 R£r"IOTHE POIHTOF· TAHGENCY;lltENCESS39~,A DIS'TANCEOF 2".DO FEET TO

. THE POINT OF WRVAlURE OF A OMVE CONCA.\'E NOfDH't'A:STSU.Y, HAVING A camw.AHGU! OF 11'06'IJ0',AND A RADIUS OF 1394.31 R£r•THEH<E RUN SOU1l!W'5TBU.Y N.ONGlll! ARC OF SAID aJR\lt; A DISTANCE OF 270.12FEET;1H!NCE N2S'Z1'U"W, A DISTNICE OF 317.73 FEEl) lHEHCE NJ6"05'59'W, A DJSrANC;E OF 315.76 FEET; ntENC:e"N45954'599W, A DlSTNfa OF 241.28 FEET; THDiCE NW'S0'4JW, A OJSTANCE OF2BS.57FEETTO A POIJ'fTON 1lfE EAST RIGHT>Ol'-WAY LIHE OF l.Akl! &IMA IU>AD, THEH<E HOO'i5'19~ A DISTANCE OF 109.l.65fEEr"IO1HE POINT OF llEGIHNING.

LESS NfD EKCEP'I'.":

PART A

lHAT POR1lON OF lHE NOJmiWEST 1/4 OF sa:llON 19, TO'MiSHlP 20 sotnH, IWtG'E 30 WT IS~ INomaM. RSDRDS ~2651 PAGE 926 AND LESS RJGlfl»Of.WAY$ AEIXlllJ1ED IN OFROAl JtEC0RDS 800kS 1116, PAGE 369, ALL IH lHE PUBUC RECORDS OP seMINOLE IXUNJ'Y, A..ORio.. BEING ~ PARllOJlARLY DESUUBED AS i'Ol.LOWS!

COMMENCE ATllE SOlllliEASTCX>PJfER OFTf.E ~ 1/1 OF SAID SECD.DH 19iTHEHCE S89018;5S'W, ~;q~.·~:rr>r§~ UNE

0

0F SAID NOJ<IHWl$I" J/4, 1251.54 FEr"IOlHE~}~!GKr-OF­WAY LIHE OF lAl(E EHKl llDAD. TIUICE DEPAK!iliG.Siwu SOllllf UrlE, iloo"13"2Q.W Al.CIO; SAID EASJaU.Y RJGKr.0..WAY UNE 11J7.37 FEET FOR TiiE JIODll'nE POINl'OF EGINNIN~ lHEHCE COHllNUING ALOfO; SAID ESTfRAl.Y RIGHT-OF-WAY UNe, N00"1l'20W, 19.llD FEET; 11iBtC!: DEPARTitG SAID eASTfRLY RIGHT· OF-WAY lINE, N89"46'40'", 17.35FB:T:11iEHCE S420lO'+t-W, 25.73 FfET"'JO llfE POINT OF BEGINNING. .

ANDAl.50

PAATB

lliATFOR1l()N OF THE N0RTHWEsT l/1OFSECJIOff19, 'TilWNSHIP 20 SOU1lf, RANGE 30 EAST AS REcxliu>ED IN OFFJCAL REOORDS BOOK 265', PAGE 926 AND LESS RlGtfl'-Of-WAYSAS RECORDED IN OFFIC2N. RECORDS BOOK 1116, t"AGE 369, AU. DI lltE FUIUC RECORDS OF SEMINOLE OOUHTY, ~ MORE PARJKlMRLY ll<'SOllBED AS Ftll.!DWS: .

a>MMEHCE AT1HE SOU!!lfA5T0

!Xl!INER OFlHE NOfmlWEST 1/1 OF SAID SECTlON 19, lHENCE ~. ALCJHQ 111E SOUTH UNE OF SAID HORl1Wi£Sr l/4, 1251.51 fEET"IOlHEEASTmY RlGKr-OF­WAY UNE OF l.AICE atMA RCW:I, nfENCE DEPARJING MID sourn UNE l«Xl'tno"W MONG SAID EASlaU. Y RJGllT-OF-WAY UNE. 1736.33 R£r fOR 1HE POIKT OF BEGINff!HG, 1leiCE CllHllNUING

Boe>k6016/Paoe40 CFN#2005206443

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ALONG SAID EASTfRl. y RlGfT-Of..WAY UN~,N009.~, 22.SJ FEEi) 1HEOO! DEPARllNG SAID fAST611.Y:'JUGHi;-¢F-WAY-UNE, NB!r'46"WE, 2J.BO ~THENCE &H~'40"W; 31;~ A:Er11> lHE POINT OF BEGINNJHG. ..

AND IJ.SJJ

PN<TC

:niAT~ONOFlHE NOKIHWESrJ/4 OFSB;JJDN 1•, 'ltlYINSl«P 20 SO\S1li, IWIGE 30 f.ASf AS~ IN OfflCAl RfOORDS BOOK 2654, PAGE 926 NIO LE5S RIGHT-<FWAYS AS R.EC0RDB> IN oo:taAl N:CORD5 BOOK 1116, PAGE 369, All. Of lHE PUBLIC R£l:XJRDS OF SEMINOlE OOUNTY, FIDRIOA, BEING HORE PAR11D.AARLY oesausEt>AS fOll.CWS: .

00tll<EllCE·AT1HE s0um...sr CX>RHER CIF'lllE NORiJtWEsr ,j4 Of wt> SECllOH 19, l1jENCE ~. AlDNG 11£ 50UJH llNE OF SMD HORTiiWEST J/4, JZ$l.51 FEET10 TIE EASTERLYRJGtfT-or­WAY IJNE OF LAKE EMMA l!IW>, 'IHEl<CI! DS'NlllNG SAID SOl1TH LJNE, NOO"n'2a'W AlDNG SAID fASTERLY IUGHl"-OF-WAY LJNf, 1430.37 FEET fOR ntE PDlNT OF BEGlltNDIG, 1tBiCE a'.>NlJNUING AUJltG 9'11> fASJ'SU.Y RlGHT~AY W£ NOl)913"2rW, 22.00 fEET; 1HENCf DB>AATJNG ~ fASJSU.Y RIGHT~AY UNE 539"30'12.E, 28.43 FEET; 'THENCE N89"46'-wE.- 18.00 FEET 10 TI-IE POINT OF 8EGINNIHG. -

Book6016/Paoe41 CFN#2005206443 ........ ·

EXIIlDIT "2" TO DECLARATION OF REGENCY PARK AT LAKE MARY,A CONDOMINIUM

SURVEY·PLOTPLAN-FLOORPLANS

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BUILDING TYPE .[. A 8 c D

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VERTICAL SECTION .

Table of Elevations

BUILDING TYi'£ T A 8 c D

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VERTICAL SECTION

Table of Elevations

BUILDIHC TYPE •H• A B c D

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Table of Elevations

BUILDING l'IPE •1• A B c 0

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BUllOING T'f'PE "1 Mocfifo:d" A B c 0

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VERTICAL SECTION

Table of Elevations BU~IJlNC TYPE • .{" A e c c .:D E r ..

fl2 +~2.9r +67.77' t6a:11· '.1asr 179.57 t89.J7'

fl6 +1~.33' +55.13' +56.IJ' +65.93' t66.9J' t76.7J'

138 .f-43.14' t-52.94" -t:>J,94• t6J.74' +64.7.f +74.54'

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EXHIBIT "2"

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The Reserve at Lake Mary, a Condominium Type Unit 'Calyao'

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The Reserve at Lake Mary, a Condominium Type Unit 'Coral Reef"

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The Reserve at Lake Mary, a Condominium Type Unit 'Sandbar'

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Book6016/Paoe156

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The Reserve at Lake Mary, a Condominium Type Unit "Sea Breeze"

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8ulldl111 Na. ll>Ua. lllt'l)ilt Dllatiolon Bulldlna No. LllltNll. .... ,... ....._ 1111 11w11111m l!ERXIMB.\1lRXN 101 SANllXWR 3lBJIX»1!AntlXM

1112 l\WllR!IE IB!IJD»llll1lRXN "' SAIGIXWR -1111-713 '°' l\WllR!IE -IB.\1lRXN 731 ,,. SANllXWR lllDl'.D<11111lflXll !•I 101 SANllXWR lllDl'.D<IB.\1lflXll

181 IOI l\WllRm jll!JIXJj.jB.\llflXM

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The Reserve at Lake Mary, a Condominium Summary Table No. 5

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