First amendment to the second amended and restated declaration of covenants, condition, and restrictions for Bella Collina

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722, of the Public Records of Lake County, Florida, as the same may be amended from time to time (collectively, the "CC&Rs ");
Derivative action lawsuit against Bella Collina

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R E C I T A L S

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722, of the Public Records of Lake County, Florida, as the same may be amended from time to time (collectively, the “CC&Rs “);

WHEREAS, the CC&Rs relates to a residential community called “Bella Collina”;

WHEREAS, Declarant had anticipated that prior to the transfer of any of the Lots located within that portion of the Committed Property described on the Bella Collina Plat recorded in Plat Book 51, Pages 31 through 49, inclusive, of the Public Records of Lake County (“Bella Collina 1”), that all infrastructure would be complete;

WHEREAS, due to circumstances beyond Declarant’s control, all such infrastructure within Bella Collina 1 was not complete prior to the initial transfer of some of the Lots;

WHEREAS, Declarant desires to amend its right to repurchase a Lot in Bella Collina 1 by extending the time of commencement of construction from the time of the first conveyance of such Lot by Declarant to the Infrastructure Completion Date (as defined herein);

WHEREAS, pursuant to the CC&Rs, Declarant may amend the terms of the CC&Rs; and

WHEREAS, Declarant desires to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs.

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NOW, THEREFORE, Declarant hereby amends the CC&Rs as follows:

1. Recitals. The recitals set forth above are true and correct and incorporated herein.

2. Definitions. The following terms shall have the meanings ascribed to such terms and shall be added as new definitions to Article I as Section 47, 48 and 49:

Section 47. “Governmental Authority” means the United States of America, and any state, county, city, CDD or political subdivision thereof, and any board, bureau, council, commission, department, agency, court, legislative body or other instrumentality of the United States of America or any state, county, city or political subdivision thereof.

Section 48. “Infrastructure Completion Date” shall mean the date that all streets and roads providing access to the Lot are completed and electricity, water, sewer, gas and telephone service has been extended to the Lot and the proper Governmental Authority issues a notice of satisfactory completion of infrastructure for the Lot or such other approval or consent that would permit such Governmental Authority to issue a building permit for a Home.

Section 49. “Laws” means all constitutions, statutes, ordinances, codes, regulations, resolutions, rules, requirements and directives of any Governmental Authority, and all decisions, judgments, writs, injunctions, orders, decrees or demands of courts, administrative bodies or other authorities construing any of the foregoing. “Law” shall be the singular reference to Laws.

3. Date of Commencement of Assessments; Initial Annual Assessments. Article VII, Section 7 shall be deleted in their entirety and replaced with the following:

Section 7. Date of Commencement of Assessments; Initial Annual Assessments. The Assessments for each Lot shall commence of the date (the “Assessment Commencement Date”) (i) with respect to Lots existing within that portion of the Committed Property more particularly described on the Bella Collina Plat recorded in Plat Book 51, Pages 31 through 49, inclusive, Public Records of the County, from and after the first conveyance of a Lot from Declarant as evidenced by the recordation of a Deed in the Public Records of the County (in the manner herein set forth), or (ii) with respect to Lots located within Bella Collina East or Bella Collina West, more particularly described on Exhibit “A” hereof, upon the Infrastructure Completion Date. Assessments for each such Lot shall be adjusted according to the number of months then remaining in the fiscal year of the Association and the number of days then remaining in the month in which such Assessments commence. The initial Assessments for each Lot in any Additional Property shall be set forth in the pertinent Supplemental Declaration.

4. Repurchase Rights. Article X, Section 19, Paragraphs D.1. and D.2. shall be deleted in their entirety and replaced with the following:

1. Committed Property. For Lots located within the Committed Property, Declarant shall have the right to Repurchase, unless specifically waived or modified in writing by Declarant, any Unimproved Lot upon the failure of the Owner to Commence Construction within twenty-four (24) months after the Infrastructure Completion Date or upon the Owner’s failure to attain Completion of Construction of the

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Lot within eighteen (18) months after the expiration of the aforementioned 24-month period. Notwithstanding anything herein to the contrary, in no event shall the initial 24-month period be deemed to commence until the proper Governmental Authority issues a notice of satisfactory completion of infrastructure for the Lot or such other approval or consent that would permit the proper Governmental Authority to issue a building permit for a Home. The time periods established in this paragraph shall not be tolled by the further conveyance of the Lot from the initial Owner to a subsequent Owner.

2. Reserved.

5. Declaration Remains in Effect. Except as expressly modified in this First Amendment, the CC&Rs shall remain in full force and effect.

6. Severabilitv. If any clause or provision of this First Amendment, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under applicable present or future Laws, the remainder of this First Amendment shall not be affected thereby. Also, if any clause or provision of this First Amendment is illegal, invalid or unenforceable under any applicable present or future Laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such Law. Any clause or provision hereof that may prove illegal, invalid or unenforceable under any applicable present or future Laws shall not affect the legality, validity or enforceability of any other clause or provision hereof.

7. Captions. The Captions preceding the various provisions of this First Amendment have been inserted solely for convenience of reference and shall not be used in construing the CC&Rs.

8. Execution. By its execution, Declarant certifies that this First Amendment has been duly approved by Declarant.

9. Recordation. This First Amendment shall take effect upon recordation in the Official Records of Lake County.

[THE REMAINDER OF TIDS PAGE INTENTIONALLY LEFT BLANK]

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IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year first written above.

DECLARANT

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WHEREAS, pursuant to Article III, Section 1 of the Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina and Supplemental Declaration, recorded in Official Records Book 2810, Page 722, as amended by that First Amendment to the Second Amended and Restated Declaration of Covenants, Conditions, and Restrictions for Bella Collina, recorded in Official Records Book 2948, Page 2018, all of the Public Records of Lake County, Florida, and as the same may be further amended from time to time (collectively, “Second Amended and Restated Declaration”), the Declarant may, in its sole discretion, by recording appropriate Supplemental Declarations, add any Additional Property or any other real property to the “Committed Property”, as defined in the Second Amended and Restated Declaration, and as further described below.

WHEREAS, the Second Amended and Restated Declaration defines “Committed Property” as that property described in Exhibit “A” to the Second Amended and Restated Declaration, and such additions thereto as may hereafter be brought within the jurisdiction of the

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CC&Rs and/or the Association; provided, however, Declarant reserves the right to withdraw from the provisions of the Second Amended and Restated Declaration, such portion or portions of the Committed Property as Declarant from time to time elects, upon the execution by Declarant of a Supplemental Declaration.

WHEREAS, Declarant, through this Second Supplemental Declaration, desires to add additional real property to the Committed Property, as set forth on Exhibit “A”, attached hereto and incorporated herein by reference.

IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year first above written.

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EXHIBIT “A”

ADDITIONAL PROPERTY

THAT PORTION OF SECTION 11, TOWNSHIP 22 SOUTH, RANGE 26 EAST, LAKE COUNTY, FLORIDA DESCRIBED AS FOLLOWS:

COMMENCE AT THE NORTH 1/4 OF SAID SECTION 11; THENCE SOUTH 00°50’41” WEST ALONG THE NORTii SOUTH CENTER SEcnON LINE FOR 1,970.05 FEET TO NORTHEAST CORNER OF LOT 21, ‘MAGNOLIA TERRACE PHASE 1’, AS RECORDED IN Pl.AT BOOK 43, PAGES 45 THROUGH 47 OF THE PUBLIC RECORDS OF LAKE COUNTY, FLORIDA AND TO THE POINT OF BEGINNING; THENCE ALONG 11iE SOUTHERLY AND EASTERLY BOUNDARY OF SAID ‘MAGNOLIA TERRACE PHASE 1’ THE FOLLOWING FOUR (4) COURSES: RUN SOUTH 89°35’34” EAST FOR 664.44 FEET; THENCE NORTH 00°33’23” EAST FOR 8.64 FEET; THENCE SOUTH 89°16’01” EAST FOR 164.97 FEET; 11iENCE NORTH 00°50’29” EAST FOR 600.13 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF RIDGEWOOD AVENUE; THENCE SOUTH 89°09’44” EAST ALONG SAID SOUTHERLY RIGHT OF WAY LINE FOR 838.64 FEET TO THE WESTERLY RIGHT OF WAY LINE OF LAKEMONT AVENUE AS DESIGNATED ON THE PLAT OF ‘MORNINGSIDE PARK’ AS RECORDED IN PLAT BOOK 6, PAGE 34 OF THE PUBLIC RECORDS OF LAKE COUNTY, FLORIDA; THENCE ALONG SAID WESTERLY RIGHT OF WAY LINE AND THE SOUTHERLY RIGHT OF WAY LINE OF LAKEMONT AVENUE THE FOLLOWING FOUR (4) COURSES; RUN SOUTH 00°45’09” WEST FOR 215.73 FEET; THENCE SOUTH 30°42’29” WEST FOR 39.87 FEET TO AN INTERSECT10N WITH A CIRCULAR CURVE CONCAVE EASTERLY, HAVING A CHORD BEAR.ING OF SOUTH 10°56’59” WEST AND A RADIUS OF 776.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 25°34’53” FOR 346.47 FEET TO AN INTERSECTION wrrn A CIRCULAR CURVE CONCAVE NORTHEASTERLY, HAVING A CHORD BEARING OF SOUTH 48°33’15” EAST AND A RADIUS OF 200.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 98°27’40” FOR 343.69 FEET TO THE WESTERLY BOUNDARY OF LOT 4, BLOCK C OF AFORESAID ‘MORNINGSIDE PARK’; THENCE ALONG SAID WESTERLY BOUNDARY AND THE SOUTHERLY BOUNDARY OF LOT 4, BLOCK C THE FOLLOWING TWO (2) COURSES: RUN SOUTH 00°24’44” WEST FOR 58.59 FEET; THENCE SOUTH 89°28’13” EAST FOR 131.82 FEET TO THE WESTERLY RIGHT OF WAY LINE OF MORNINGSIDE DRIVE AND TO AN INTERSEcnON WITH A CIRCULAR CURVE CONCAVE NORTHEASTERLY, HAVING A CHORD BEARING OF SOUTH 49°55’10” EAST AND A RADIUS OF 170.00 FEET; TliENCE ALONG SAID WESTERLY RIGHT OF WAY LINE AND THE SOUTHERLY RIGHT OF WAY LINE OF MORNINGSIDE DRIVE THE FOLLOWING TWO (2) COURSES RUN SOUTHEASTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 82°56’10” FOR 246.08 FEET; 11iENCE SOUTH 89°14’51” EAST FOR 184.79 FEET TO THE WESTERLY RIGHT OF WAY LINE OF SEVENTH STREET, Al.SO KNOWN AS COUNTY ROAD NO. 455; THENCE ALONG SAID WESTERLY RIGHT OF WAY LINE THE FOLLOWING TWO (2) COURSES: RUN SOUTH 00°42’14” WEST FOR 292.75 FEET TO A POINT OF CURVATURE WITH A CIRCULAR CURVE CONCAVE WESTERLY AND HAVING A RADIUS OF 1,302.45 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 01°57’35” FOR 44.55 FEET TO THE SOUTH LINE OF THE NORTH 80.00 FEET OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 11; THENCE NORTH 89°50’58” WEST ALONG SAID SOUTH LINE FOR 317.48 FEET TO THE EASTERLY BOUNDARY OF THOSE LANDS DESCRIBED IN DEED BOOK 368, PAGE 31 OF THE PUBLIC RECORDS OF LAKE COUNTY, FLORIDA; THENCE SOUTH 01°16’49” WEST ALONG SAID EASTERLY BOUNDARY FOR 279.58 FEET TO THE FORMER CENTERLINE OF THE C.S.X. RAILROAD (FORMERLY THE TAVARES & GULF AND SEABOARD COAST LINE RAILROAD) AND TO AN INTERSECTION WITH A CIRCULAR CURVE CONCAVE NORTHERLY, HAVING A CHORD BEARING OF SOUTH 87°28’10” WEST AND A RADIUS OF 928.60 FEET; THENCE ALONG SAID FORMER CENTERLINE OF THE C.S.X. RAILROAD THE FOLLOWING THREE (3) COURSES: RUN WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 02°09’46” FOR 35.05 FEET TO THE POINT OF TANGENCY; THENCE SOUTH 88°33’02” WEST FOR 1633.30 FEET TO A POINT OF CURVATURE WITH A CIRCULAR CURVE CONCAVE SOUTHERLY AND HAVING A RADIUS OF 1,045.92 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE THROUGH A CENTRAL ANGLE OF 18°07’45” FOR 330.95 FEET TO THE NORTH SOUTH CENTER SEcnON UNE FOR AFORESAID SECTION 11; THENCE NORTH 00°50’41” EAST ALONG SAID NORTH SOUTH CENTER SECTION LINE FOR 1124.47 FEET POINT OF BEGINNING.

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SECOND AMENDMENT TO SECOND AMENDED AND RESTATED
DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS
FOR BELLA COLLINA

THIS SECOND AMENDMENT TO SECOND AMENDED AND REST A TED DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR BELLA COLLINA (this “Second Amendment“) is made and entered into this 7th day of November, 2007, by GINN-LA PINE ISLAND LTD., LLLP, a Georgia limited liability limited partnership (“Declarant“) and is joined in by BELLA COLLINA PROPERTY OWNER’S ASSOCIATION, INC., a Florida corporation not for profit (“POA“). Capitalized terms used in this Second Amendment shall have the same meanings ascribed to such terms in the CC&Rs (as defined below) unless the context otherwise requires and states.

R E C I T A L S

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722; that certain First Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina recorded September 15, 2005 in Official Records Book 2948, Page 2018; and that certain Second Supplemental Declaration to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina and Supplemental Declaration, recorded December 22, 2006, in Official Records Book 03332, Page 1428, all of the Public Records of Lake County, Florida, (collectively, the “CC&Rs “);

WHEREAS, the CC&Rs relate to a residential community called “Bella Collina”;

WHEREAS, Article IX, Section l .P. provides for the initial installation of landscaping of Lots within Bella Collina East and Bella Collina West;

WHEREAS, Declarant desires to eliminate this provision for initial installation of landscaping;

WHEREAS, pursuant to the CC&Rs, Declarant may amend the terms of the CC&Rs; and

WHEREAS, Declarant desires to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs.

NOW, THEREFORE, Declarant hereby amends the CC&Rs as follows:

1. Recitals. The recitals set forth above are true and correct and incorporated herein.

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2. Landscaping Requirement. Article IX, Section l P of the CC&Rs is hereby deleted in its entirety and replaced with the following:

“P. In order to create a consistent appearance within the Committed Property, as more particularly described on Exhibit “A” (exclusive of the Club Property), including all landscaped and grassed areas on all Lots within the Committed Property up to the perimeter edge of the Home, the ACB shall approve all initial landscape design. All initial landscaping shall be designed and installed in accordance with the Guidelines, as detailed in such document and as amended from time to time. All ongoing horticultural maintenance and care, including irrigation systems, shall be consistent with the Community-Wide Standard. Related landscape service specifications will be outlined by the Association and updated periodically in accordance with the ongoing maintenance and care needs within the Committed Property.”

3. Lot Type Maintenance Assessments. The term “Lot Type Maintenance Assessments” and all references thereto in Article I, Section 6; Article VI, Section 1; Article VU, Sections 1, 2, 3 and 4; Article Vlll, Section 1; and Article IX, Section 1 are hereby removed from the CC&Rs as follows:

(a) The term “Lot Type Maintenance Assessments” is stricken from Article I, Section 6.

(b) The term “Lot Type Maintenance Assessments” is stricken from the first paragraph of Article VI, Section 1.

(c) The last sentence of the second paragraph of Article VI, Section 1 is amended as follows [additions are shown as double-underlines; deletions are shown as strike throughs]:

” … and. (11) maintenance, replacement, and repair of irrigation systems: and (12) fees and costs incurred by the Association in connection with providing Communication Services as defined in Section 7 of Article VI of these CC&Rs. “

(d) The last sentence of the first paragraph of Article VII, Section 1 is amended as follows [additions are shown as d_Quble-underlines; deletions are shown as strike throughs]:

“Each Improved Lot and Unimproved Lot shall be assessed its portion of the total anticipated Operating Expenses, exclusive of the Lot Type Maintenance Assessment (as defined below) and Neighborhood Expenses, if applicable, which shall be the “Base Lot Assessment” and “Neighborhood Assessment”, if applicable as to each Lot.”

(e) The first sentence of the second paragraph of Article VII, Section 2 is amended as follows [additions are shown as double-underlines; deletions are shown as strike throughs]:

“With respect to that portion of the Committed Property more Particularly described on the Bella Collina Plat recorded in Plat Book 51, Pages 31 through 49, inclusive, of the Public Records of the County, the Base Lot Assessment and Neighborhood Assessment shall be based upon the level of service to each Lot and upon the state of the Lot’s development, with the Owners of lmproved Lots paying the Operating Expenses on a four to one ratio ( 4: I) compared to the Owners of Unimproved Lots as set forth below.”

(f) The third paragraph of Article VII, Section 1 is hereby deleted in its entirety.

(g) The term “Lot Type Maintenance Assessments” is stricken from Article VII,

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Section 1, Paragraph 5, and Sections 2, 3 and 4 of Article VII.


(h) The first sentence of Article IX, Section IQ of the CC&Rs is amended as follows [additions are shown as double-underlines; deletions are shown as strike throughs]:

“As landscaping and turf areas within the AssociationProperty Committed Property (exclusive of the club property), including all landscaped and turf areas on all Lots up to the perimeter of the edge of the Home, require periodic renewal or replacement due to age, effects of weather, disease, decline or other natural conditions that affect appearance and viability of plant material over time, the Association shall have the authority to arrange for plant replacement within such Association Property Bella Collina east and Bella Collina west , as more particularly described on Exhibit “A” hereof, as a Lot Type Maintenance expense an Operating Expense.

4. Declaration Remains in Effect. Except as expressly modified in this Second Amendment, the CC&Rs shall remain in full force and effect.

5. Severability. If any clause or provision of this Second Amendment, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under applicable present or future Laws, the remainder of this Second Amendment shall not be affected thereby. Also, if any clause or provision of this Second Amendment is illegal, invalid or unenforceable under any applicable present or future Laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such Law. Any clause or provision hereof that may prove illegal, invalid or unenforceable under any applicable present or future Laws shall not affect the legality, validity or enforceability of any other clause or provision hereof.

6. Captions. The Captions preceding the various provisions of this Second Amendment have been inserted solely for convenience of reference and shall not be used in construing the CC&Rs.

7. Execution. By its execution, Declarant certifies that this Second Amendment has been duly approved by Declarant.

8. Recordation. This Second Amendment shall take effect upon recordation in the Official Records of Lake County, Florida.

8. Counterparts. This Second Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and any of which shall be deemed to be complete in itself and be admissible into evidence or used for any purpose without the production of the other counterparts.

Signature pages follow.

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IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its sea1 to be affixed hereto as of the day and year first written above.

DECLARANT

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CERTIFICATE OF
FIRST AMENDMENT TO THE RULES AND REGULATIONS OF
BELLA COLLINA PROPERTY OWNER’S ASSOCIATION, INC.

THIS IS TO CERTIFY that the following language amending, Section (p) of the Rules and Regulations constitutes the First Amendment to Rules and Regulations of Bella Collina Property Owner’s Association, Inc., which was originally recorded in as Exhibit “F” to the Second Amended and Restated Declaration of Covenants, Conditions and Restriction for Bella Collina and Supplemental Declaration in Official Records (O.R.) Book 2810, Page 722, and amended at Official Records Book 2948, Page 2018, Official Records Book 3548, Page 185, and Official Records Book 3332, Page 1428 of the Public Records of Lake County, Florida. This Amendment was duly and properly adopted by the Board of Directors pursuant to Section 10 of the Amended and Restated By-Laws of Bella Collina Property Owner’s Association, Inc.

Section (p) is hereby amended and shall read as follows:

(p) Vehicles and Parking. No vehicle may be left upon any portion of the Committed Property except in a garage, driveway, or other area the Board designates. The following vehicles may be parked only in an enclosed garage or other area (if any) the Board designates: any recreational vehicle, mobile home, trailer, camper, boat or other watercraft, helicopter. aircraft. any stored vehicle, any commercial vehicle (including all vehicles with commercial lettering or logos), or any unlicensed or inoperable vehicle. “Sports utility vehicles” and “minivans” (as such vehicles are commonly referred to, as determined in the Board’s discretion) and pick-up trucks without raised enclosures or commercial writing or logos shall be treated as automobiles and may be parked in driveways outside of enclosed garages. This Section shall not apply to emergency vehicle repairs or to construction, service, and delivery vehicles for periods necessary to perform the services or make a delivery.

Notwithstanding the above, for purposes of cleaning, loading, unloading, and short-term and visitor or guest parking, any vehicle may be parked temporarily outside of an enclosed garage or other approved structures for time periods reasonably necessary to perform such task. The Board, in its discretion, may enact rules governing such temporary, irregular use or, in the absence of specific rules, shall have discretion in determining what constitutes permissible use.

As used in this Section, the term “vehicles” includes, without limitation, automobiles, trucks, boats, trailers, helicopters. aircraft, motorcycles, campers, vans, and recreational vehicles.

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Section (t) is hereby added and shall read as follows:

(t). Helicopters and Aircraft: No helicopter or aircraft shall land on or takeoff from any portion of the Committed Property.

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THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED DECLARATION OF COVENANTS, CONDITIONS AND RESTRlCTIONS FOR BELLA COLLINA (this “Third Amendment“) is made and entered into this 28th day of August, 2012, by DCS REAL EST A TE INVESTMENTS, LLC, a Florida limited liability company (“Declarant“). Capitalized terms used in this Third Amendment shall have the same meanings ascribed to such terms in the CC&Rs (as defined below) unless the context otherwise requires and states.

R E C I T A L S

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722; that certain First Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina recorded September 15, 2005 in Official Records Book 2948, Page 2018; that certain Second Supplemental Declaration to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded December 22, 2006, in Official Records Book 03332, Page 1428; and that certain Second Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina recorded December 3, 2007 in Official Records Book 3548, Page 0185, all of the Public Records of Lake County, Florida, (collectively, the “CC&Rs “);

WHEREAS, the CC&Rs relate to a residential community called “Bella Collina”;

WHEREAS, pursuant to that certain Assignment and Assumption of Declarant’s Rights recorded July 2, 2012, in Official Records Book 4181, Page 1163 of the Public Records of Lake County, Florida, GINN-LA PINE ISLAND, LTD, LLLP, a Georgia limited liability limited partnership (“Assignor”), transferred and assigned to Declarant all of Assignor’s rights, powers, privileges, benefits, protections, easements, reservations, duties, obligations and interest as “Declarant” under the CC&Rs;

WHEREAS, pursuant to Article XIJ, Section 9(A) of the CC&Rs, Declarant may unilaterally amend the terms of the CC&Rs; and

WHEREAS, Declarant desires to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs.

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NOW, THEREFORE, Declarant hereby amends the CC&Rs as follows:

1. Recitals. The recitals set forth above are true and correct and incorporated herein.

2. Article I, Section 8 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

“ASSOCIATION PROPERTY” shall mean such portions of the Committed Property which are not included in any Lot or the Club Property, except those areas dedicated to the public by the Plat or Additional Plat, if any, or otherwise conveyed to the Community Development District or other public entity in accordance with the provisions of these CC&Rs, and which are or shall be owned or maintained by the Association, as set forth in these CC&Rs, for the common use and enjoyment of the Owners within Bella Collina, together with landscaping and any other Improvements thereon, including, without limitation, the Drainage System, the Utility Systems, all structures, gatehouses, open spaces, private streets, asphalt bike paths, horse trails, sidewalks, irrigation facilities, decorative street lights, perimeter fence, entry or other lighting, if any, and entrance features, buffer tracts, monument walls, site walls, gazebos, retaining walls, fountains, littoral plantings and decorative street signs, but excluding any public utility installations thereon. Notwithstanding anything to the contrary contained in these CC&Rs, “Association Property” does not include or refer to the Club Property or any portion of the Club Property.

3. Article I, Section 9 shall be amended as follows (additions are shown as double underlined and deletions are shown as strike through):

“BELLA COLLINA” shall mean that planned residential development planned to be developed in stages on the Total Property in the County, which encompasses the Total Property and is intended to comprise approximately at least eight hundred and seventy-nine one (801 879) single family homes or other residential unit types as may be approved by the County and the Association Property, COD Property (as defined in Article II, Section 9), and Club Property, and Equestrian Property, if any. Bella Collina will consist of the land set forth in Exhibit “A” attached hereto and made a part hereof and may be expanded by the recording of one or more Supplemental Declaration(s).

4. Article I, Section 16 shall be amended as follows (additions are shown as double-undelined and deletions are shown as strike through):

“CLUB AT BELLA COLLINA PROPERTY” or “CLUB PROPERTY” shall mean Tracts B, G, and N, as such tracts are more particularly described on the Bella Collina West plat, the Equestrian Property, and all of the real property included within the Committed Property, if any, as may be owned from time to time by the Club Property Owner, together with the golf course, tennis courts, Country club facilities, Equestrian Property and other recreational and social facilities constructed thereon, if any, that are independently owned and or operated by the Club Property Owner, or its successors and assigns. Any of the Committed Property, except Lots and such other property which has been conveyed or dedicated to the Association, the public, or the COD, may be designated as “Club Property” by the Declarant in Exhibit “A” to these CC&Rs or in a Supplemental Declaration, and should any Additional Property be subjected to provisions of these CC&Rs, Declarant shall have the right to designate any or all of such property as Club Property. Any facilities may be added or removed from the Club Property from time to time in the sole discretion of the Club Property owner. The Club Property is not Association Property.

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5. Article I, Section 22 shall be deleted in its entirety and replaced with the following:

“DECLARANT” shall mean and refer to DCS REAL ESTA TE INVESTMENTS, LLC, a Florida limited liability company, and any successor or assign thereof to which DCS REAL EST A TE INVESTMENTS, LLC, specifically assigns all or part of the rights of Declarant hereunder by an express written assignment, whether recorded in the Public Records of the County or not. The written assignment may give notice as to which rights of Declarant are to be exercised and as to which portion of the Total Property. In any event, any subsequent declarant shall not be liable for any default or obligations incurred by any prior declarant, except as may be expressly assumed by the subsequent declarant, and any prior Declarant shall not be liable for any subsequent default or obligations incurred by any subsequent Declarant. An Owner shall not, solely by the purchase of a Home and/or Lot, be deemed a successor or assign of Declarant under the Bella Collina Documents unless such Owner is specifically so designated as a successor or assign of such rights in the instrument of conveyance or any other instrument executed by Declarant.

6. Article I, Section 26 shall be deleted in its entirety.

7. Article l, Section 31 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

“IMPROVEMENT” shall mean all structures or artificially created conditions and appurtenances thereto of every type and kind located within Bella Collina, including, without limitation, buildings, walkways, horse trails, berms, fountains, sprinkler pipes, gatehouses, roads, driveways, fences, retaining walls, underground footers and other foundation supports, stairs, landscaping, hedges, plantings, poles, swings, tennis courts, swimming pools, covered patios, screen enclosures, jogging, bicycling and walking paths, basketball backboards and hoops, signs, site walls, gazebos, benches, mailboxes, decorative street lights and signs.

8. Article II, Section I shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

GENERAL PLAN OF DEVELOPMENT. Bella Collina comprises the Committed Property encompassing, or which will encompass, Lots, Association Property, Club Property, publicly dedicated property, and property conveyed to the COD, as more particularly defined by these CC&Rs and, in addition, lands which Declarant may add, but shall in no way be obligated to add, by one or more Supplemental Declaration(s). The property initially declared in the Initial Declaration together with the Additional Property being added and subjected to these CC&Rs as set forth in this First Supplemental Declaration as the Committed Property is described in Exhibit “A” attached hereto (more particularly described as all of the lands subject to the Plats of Bella Collina East and Bella Collina West). The Committed Property is planned to contain eight hundred and seventy-nine eRe (~ 879) Lots to contain Homes in accordance with these CC&Rs. However, Declarant has reserved the right to modify its plan of development of Bella Collina and to add land or Lots to Bella Collina, and, therefore, the number of Lots within Bella Collina may change. Declarant’s general plan of development further contemplates that Homes to be built on the Lots shall be whatever types of structures Declarant may designate which are in conformance with these CC&Rs. Declarant’s general plan of development of Bella Collina may also include whatever facilities and amenities Declarant considers in its sole judgment to be appropriate to Bella Collina.

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9. Article II, Section 2, Subsection (7) shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

Gatehouse, Entranceway and Entry Gates. Bella Collina may include a gatehouse and entry gates installed by Declarant or the Association. Such gatehouse, entranceway and/or entry gates shall be deemed Association Property and shall be maintained, repaired or replaced by the Association and the expense thereof shall be included as an Operating Expense. The gatehouse, if any, may or may not be staffed, in any manner as detennined in the sole discretion of the Association. All other portions of the entranceway shall also be owned and maintained by the Association. NEITHER DECLARANT, CLUB PROPERTY OWNER, NOR THE ASSOCIATION MAKES ANY REPRESENTATIONS WHATSOEVER AS TO THE SECURITY OF THE PREMISES OR THE EFFECTIVENESS OF ANY ENTRY GATES. ALL OWNERS AGREE TO HOLD DECLARANT, CLUB PROPERTY OWNER, AND THE ASSOCIATION HARMLESS FROM ANY LOSS OR CLAIM ARISING WITHIN THE COMMITTED PROPERTY FROM THE OCCURRENCE OF A CRIME OR OTHER ACT. THE OWNERS ACKNOWLEDGE THAT THE ENTRY GATES ARE DESIGNED TO DETER CRIME, NOT PREVENT IT. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, NEITHER DECLARANT, CLUB PROPERTY OWNER, NOR THE ASSOCIATION MAKES ANY REPRESENTATIONS WHATSOEVER TO COMMENCE, COMPLETE, CONSTRUCT OR STAFF ANY GATEHOUSE OR ENTRY GATE WITHIN ANY SPECIFIC TIME PERIOD. NO SUCH GATEHOUSE, ENTRANCEWAY, ENTRY GATES OR OTHER TRAFFIC CONTROL SHALL UNREASONABLY INTERFERE WITH OR RESTRICT THOSE PERSONS ENTITLED TO ENTER INTO THE COMMITTED PROPERTY TO UTILIZE THE CLUB PROPERTY OR THE EQUESTRIAN PROPERTY.

10. Article II. Section 3, Subsection D shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

Club Charges. Membership in the Club requires the payment of a membership purchase price called a membership deposit and membership dues, fees and other amounts (the “Club Charges”). Club Charges shall be determined by the Club and are subject to change as contemplated by the Membership Plan Documents. Club Charges owed by Owners to the Club which become delinquent under the terms and conditions set forth in the Membership Plan Documents (“Delinquent Club Charges”) are deemed to constitute Special Assessments of the Association, for which the Association shall have a lien against each Lot for all unpaid Special Assessments in accordance with the lien and foreclosure provisions set forth in Article VI. If the Club provides notice to the Association that an Owner owes Delinquent Club Charges, the Association shall have the right and obligation to collect Delinquent Club Charges from Owners and to enforce its lien for Special Assessments, through and including foreclosure of the lien. In the event that the Association does not enforce its rights hereunder with respect to a Special Assessment resulting from delinquent Club Charges, the Association hereby consents and authorizes the Club to enforce the lien and foreclosure provisions of Article VI. Further. the Association reserves the right t.o transfer the Association’s rights to enforce the lien and foreclosure provisions of Article VI to the Club Property Owner time to time. in the Associati sole discretion, All Delinquent Club Charges collected by the Association from Owners are the property of the Club and shall be immediately paid to the Club. Transfer of a Club membership shall be in accordance with the Membership Plan Documents.

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11. Article IJ, Section 3, Subsection B shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

Mandatory Membership. ln the event the Club is developed within the Committed Property, all Owners (excluding the Declarant, Builders, the Association and the Club) who are approved for membership must acquire and maintain in good standing at least a social “Sports Membership” in the Club for each Lot owned. Notwithstanding any provision to the contrary herein, an Owner of more than one Lot in Bella Collina, who combines the Lots in a manner acceptable to the Club and Association in the manner provided in this paragraph, so that only one residence may be built thereon, will be required to maintain only one Membership for the combined Lots and may resign the additional Memberships. lf the Owner of more than one Lot enters into an agreement to combine Lots that is acceptable to the Club and the Association, the Owner will not be required to acquire and maintain more than one Membership provided the Owner complies with the agreement. The obligation of the Member to pay Club Charges for the resigned Memberships will cease upon resignation of the Memberships after the combination of Lots in accordance with this paragraph. In the evnt of a proposed sale of a Lot or Home by an Owner other than Declarant, Owner shall promptly notify the club Property owner in writing of the proposed sale within five (5) days after executing a purchase and sale agreement and provide the name and address of the proposed purchaser and the estimated closing date for the transaction. The Club Property Owner shall furnish to the proposed purchaser and the estimate Membership Plan Documents (as defined below) and a request for the payment of any applicable Club Charges.

12. Article II, Section 3, Subsection E shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

Club Property. The Club Property is privately owned and operated by the Club Property Owner and is not a part of the Association Property. The Club has the exclusive right to determine from time to time, in its sole discretion and without notice or approval of any change, how and by whom the Club Property shall be used. By way of example, but not limitation, the Club has the right to approve users and determine eligibility for use, to reserve use rights for future purchasers of Lots or Homes within Bella Collina, to modify the Membership Plan Documents, to reserve memberships, to sell, lease or otherwise dispose of the Club Property in any manner whatsoever and to any person whomsoever, to add, issue or modify any type, category or class of membership, to recall any membership at any time for any or no reason whatsoever, to convert the Club into a member-owned club, to make any other changes in the terms and conditions of membership or in the types, size, design. location and cost of facilities available for use by members and to require the payment of a purchase price, initiation fee, membership deposit, dues and other charges for use privileges. ACQUISITION OF A MEMBERSHIP IN THE CLUB IS MANDATORY. OWNERSHIP OF A LOT OR ANY PORTION OF THE PROPERTY OR MEMBERSHIP IN THE ASSOCIATION DOES NOT GIVE ANY VESTED RIGHT OR EASEMENT, PRESCRIPTIVE OR OTHERWISE, TO USE THE CLUB PROPERTY AND DOES NOT GRANT ANY OWNERSHIP OR MEMBERSHIP INTEREST IN THE CLUB OR THE CLUB PROPERTY.

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13. Article II, Section 4 shall be deleted in its entirety.

14. Article III. Section 1 shall be amended as follows (additions are shown as dm!.lili:- .unde~ and deletions are shown as strike through):

ADDITIONS. Declarant may from time to time, in its sole discretion, by recording appropriate Supplemental Declaration(s) in the Public Records of the County, add any Additional Property or any other real property to the Committed Property governed by these CC&Rs, and may declare all or part of such Additional Property or other property (including any Improvements thereon) to be Lots, Club Property, EquestriaA Property, property of the COD, or Association Property. Upon the recording of a Supplemental Declaration, the property described therein shall be deemed part of the Committed Property as if it were originally included therein and subject to these CC&Rs. Any such Supplemental Declaration may submit any Additional Property or any other real property to such modifications of the covenants and restrictions contained in these CC&Rs as may be necessary or convenient to reflect or adapt to any changes in circumstances or differences in the character of any such Additional Property or other property. Nothing contained in this Section 1 shall be construed to require the joinder by or entitle a right to consent by Owners or the Association to any such Supplemental Declaration; provided, however, the Association shall join in the execution of any such Supplemental Declaration at the request of Declarant.

15. Article IV, Section 9, Subsection D(3) shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

the rights and easements reserved in these CC&Rs for the benefit of the Club Property and the Equestrian Property; and

16. Article IV, Section 10 shall be deleted in its entirety.

17. Article VI, Section 4 shall be amended to include subsection 9, as follows:

If a Lot is occupied by a tenant and the Owner is delinquent in paying any monetary obligation due to the Association, pursuant to Chapter 720, Florida Statutes, the Association may demand that the tenant pay to the Association the subsequent rental payments and continue to make such payments to the Association until all the monetary obligations of the Owner related to the Lot have been paid in full to the Association and the Association releases the tenant or until the tenant discontinues tenancy in the Lot.

18. Article VI, Section 4 shall be amended to include subsection 10, as follows:

The Association shall have the right to delegate to a third party, on an exclusive or non-exclusive basis, any and all rights described in this Article VJ with respect the establishment of liens and collection of Assessments. Such delegation shall be made by written agreement; provided, however, that any delegation made pursuant hereto may be modified or revoked by the Association at any time.

19. Article VI, Section 5 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

COLLECTION BY DECLARANT. In the event for any reason the Association shall fail to collect the Assessments, Declarant shall at all times have the right (but not the obligation):

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(i) to advance such sums as the Association could have advanced as set forth above; and (ii) to collect such Assessments and, if applicable, any such sums advanced by Declarant, together with Interest and costs of collection, including, but not limited to, Legal Fees.

20. Article VII, Section 3 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

SPECIAL ASSESSMENTS. The Board subject to the notice requirements set forth in Section 1 above, may levy at any time a Special Assessment for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, unexpected repair or replacement of a capital improvement upon the Association Property, including the necessary fixtures and personal property related thereto, for acquiring Improvements for, or on, the Association Property, for the purpose of covering any insufficiency of assessments to fund the actual monetary needs of the Association over and above the budgeted Assessments, or for any other use or purpose deemed desirable or appropriate by the Board. “Special Assessments” shall also include any other Assessments designated as Special Assessments in the Bella Collina Documents and whether or not for a cost or expense which is included within the definition of “Operating Expenses.” Notwithstanding anything to the contrary herein contained, it is recognized and declared that Special Assessments shall be in addition to, and are not part of, any Base Lot Assessment. Any Special Assessments assessed against Lots and the Owners thereof shall be paid by such Owners in addition to any other Assessments and shall be assessed in the same manner as the Base Lot Assessment. Special Assessments shall be paid in such installments or in a lump sum as the Board shall, from time to time, determine. Notwithstanding the foregoing, the levying of any Special Assessment after the Turnover Date shall require the affirmative assent of at least ~ majority two thirds (2/3) of all Owners represented in person or by proxy at a meeting called and held in accordance with the Bylaws. Prior to the Turnover Date, a Declarant controlled Board may make a Special Assessment without such vote of the Owners.

21. Article VII, Section 8 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

NOTICE PROCEDURES FOR PROPOSED SALE OF LOT(S). In addition to the notice requirements set forth in Article II Section 3 Subsection B in the event of a proposed sale of a Lot by an Owner, other than Declarant, and excluding any sale or transfer pursuant to a decree of foreclosure or pursuant to any proceeding in lieu of foreclosure, Owner shall promptly notify the Association in writing of the proposed sale within five (5) days after executing a purchase and sale agreement and provide the name and address of the proposed purchaser and the estimated closing date for the transaction. The Association shall furnish to the Owner and proposed purchaser a certificate in writing setting forth whether the Assessments have been paid. In addition, the Association shall furnish to the proposed purchaser a copy of the CC&Rs and amendments, if any. As a condition to the issuance of the aforementioned certificate an provision of Association documents, the Association shall be entitled to charge and collect a fee from the Owner for processing any proposed sale or transfer of a Lot and such fee shall be in an amount established by the Board from time to time in its sole discretion. In the event that there are unpaid Assessments owed by the Owner, the Association shall be entitled to exercise all rights and remedies available to it for collection of the Assessments as set forth in Section 4 of Article VI herein. The Owner’s failure to pay all unpaid Assessments, and accrued interest thereon, if any, before the closing of the sale of Lot may result in the suspension of certain rights and privileges provided to the new Owner to the extent permitted by applicable law. The Association may delegate its

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obligation to furnish such certificate and its right to collect the fee for providing such service to a management company hired by the Association.

22. Article VIII, Section 2 shall be amended as follows (additions are shown as .doubk:. underlined and deletions are shown as strike through):

REVIEW OF PROPOSED CONSTRUCTION.

A. The ACB shall approve proposed plans and specifications submitted for its approval only if it deems that the construction, alterations or additions contemplated will not be detrimental to the appearance of the surrounding area of the Committed Property as a whole, and that the appearance of any structure affected thereby will be in harmony with the surrounding structures and is otherwise desirable. The ACB may also issue rules or guidelines setting forth procedures for the submission of plans and specifications. If the proposed construction, alterations or additions are to a portion of the Improvements which the Association is obligated to maintain, said approval shall also be subject to approval by the Board. The ACB may condition its approval of proposed plans and specifications in such a manner as it deems appropriate and may require the submission of additional information prior to approving or disapproving such plans.

B. The ACB may, but shall not be required to, establish design and construction guidelines and review procedures (the “Guidelines”) to provide guidance to Owners and builders. The Guidelines shall not be the exclusive basis for decisions hereunder and compliance with the Guidelines shall not guarantee approval of an application. Any such Guidelines may contain general provisions applicable to all of the Committed Property, as well as specific provisions which vary from one portion of the Committed Property to another depending upon the location, type of construction or use, and unique characteristics of the property. It is intended that a portion of any Guidelines that is enacted will provide flexibility and substantial discretion to the ACB and that plans will be reviewed on a case-by-case basis with a variety of architectural styles and finishes being approved for use. Any Guidelines adopted pursuant to this Section may be amended at any time without notice in the sole discretion of the entity adopting it.

Declarant makes no representation, express or implied, to any Owner or any other party whatsoever with regard to the Guidelines, including, without limitation, the compliance of the Guidelines with building codes and other requirements, rules, laws and ordinances of federal, state and local governmental and quasi-governmental bodies and agencies relating to the construction of Improvements on the Lots and other activities engaged in by Featured Builders from time to time, the appropriateness of use of any substance or material required by the Guidelines, the compliance of the Guidelines with any licensing requirements imposed by federal, state and local governmental and quasigovernmental bodies and agencies from time to time, and the failure or alleged failure of the Guidelines to comply with any industry standard or any other reasonable standard or practice with respect to the work or materials used in the construction of Homes and other activities engaged in by Owners or Featured Builder within the Committed Property m accordance with the Guidelines.

C. The ACB shall have forty-five ( 45) days after delivery of all required materials to approve or reject any such plans and, if not approved within such forty-five ( 45) day period, such plans shall be deemed rejected, provided that, in any event, no such addition, construction or alteration shall be made by any Owner which is detrimental to or

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inconsistent with the harmony, appearance or general scheme of the Committed Property as a whole.

D. All Home plan submissions to the ACB (including additions and alterations to a Home) shall include the site layout, exterior elevations, exterior materials and colors, landscaping, all existing trees measuring three (3) inches or more in diameter, drainage, Iighting, irrigation, and other features of the proposed construction, as required by the Guidelines and as applicable. Each Home plan submission is required to include and shall provide evidence that the applicant is utilizing a builder (“Featured Builder” that has been approved by the Declarant and included on the (“Featured Builder List”) promulgated by Declarant from time-to-time in its sole, absolute, and unfettered discretion, as a condition to the commencement of construction of any improvements on any Lot. A Home plan submission for any proposed construction. alteration or addition will not be accepted for review by the ACB unless the applicant has provided sufficient evidence (as determined by the ACB, in its sole discretion) that the applicant is utilizing a Featured Builder. The Guidelines shall include minimum landscaping requirements for each Lot, based on Lot type or otherwise and such provisions may require the expenditure of a minimum level of funds toward the landscaping and landscaping of each Lot.

E. Declarant shall provide a list of Featured Builders to all Owners. To qualify as a Featured Builder, a builder must satisfy certain criteria and requirements established by Declarant, including, without limitation, the execution and delivery of a Featured Builder master agreement between Declarant and the Featured Builder, which fR8Y shall provide for the payment to Declarant by the Featured Builder of fees in Declarant’s sole, absolute and unfettered discretion. However, the criteria and requirements established by Declarant for a builder to qualify as a Featured Builder are solely for Declarant’s protection and benefit and are not intended to, and shall not be construed to, benefit any Owner or any other party whatsoever. Declarant makes no representation, express or implied, to any Owner or any other party whatsoever with regard to the Featured Builders, including, without limitation, the existence, nature and extent (including coverage amounts and deductibles) of insurance policies that may be maintained by the Featured Builders from time to time, the solvency or financial status of the Featured Builders from time to time, the nature and amount of any bonds that may be maintained by the Featured Builders from time to time, the performance (or the ability to perform) by the Featured Builders of their contractual obligations (including any contractual obligations of any of the Featured Builders in favor of any Owner or any other party whatsoever), the compliance by the Featured Builders with building codes and other requirements, rules, laws and ordinances of federal, state and local governmental and quasi-governmental bodies and agencies relating to the construction of Improvements on the Lots and other activities engaged in by the Featured Builders from time to time, the use of any substance or material, including, without limitation, any stucco or synthetic material by the Featured Builders in connection with the construction of Improvements, the compliance by any Featured Builder with any licensing requirements imposed by federal, state and local governmental and quasi-governmental bodies and agencies from time to time, including, without limitation, the maintenance of any required builder’s and/or contractor’s license, and the failure or alleged failure of any Featured Builder to comply with any industry standard or any other reasonable standard or practice with respect to such Featured Builder’s work or materials used in the construction of houses and other activities engaged in by such Featured Builder within Bella Collina. Furthermore, neither Declarant, nor the officers, directors, members, employees, agents or affiliates of Declarant, shall have any responsibility whatsoever for any sum that any Owner or any other party may deposit with a Featured Builder, including, without limitation, any

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earnest money or other deposit that any Owner may deliver to a Featured Builder. The selection of a Featured Builder by an Owner shall be conclusive evidence that such Owner is independently satisfied with regard to any and all concerns such Owner may have about the Featured Builder’s work product and/or qualifications. Owners shall not rely on the advice or representations of Declarant or the officers, directors, members, employees, agents or affiliates of Declarant in that regard. The Declarant shall retain the sole right to include builders on the “Featured Builder List” until the completion of the initial construction of all Homes on all Unimproved Lots or at such earlier time as the Declarant may, at its sole option, elect in a written instrument executed by Declarant and recorded in the Official Records of Lake County, Florida. Thereafter, the provisions of this subsection shall automatically terminate and be of no force or effect. Until then, this subsection shall not be amended without the prior written consent of Declarant. Declarant’s approval hereunder of any Featured Builder shall not be construed as approval or certification of the competency of the builder or adequacy of the Improvements built by such builder, it being agreed that Owner shall hold Declarant harmless from all claims and liabilities arising from use of the Featured Builder.

F. All plans and specifications submitted for any proposed construction, alteration or additions shall comply with (i) any Guidelines that may be in effect, (ii) all other recorded covenants, conditions and restrictions applicable to the property, including, but not limited to, these CC&Rs, (iii) all requirements of any development order concerning the property and (iv) all laws and permits. The ACB may require the submission of such additional information as it deems necessary to consider any application. All plans that are submitted concerning the proposed construction, addition or alteration of a Home shall include information concerning the extent of proposed clearing of the site, landscaping materials to be utilized and the amount of impervious surface to be incorporated. In addition to the ACB’s own standards of review and the general scheme of development applicable to the Committed Property at such time, all plans will be required to comply with applicable permits, regulations, development agreements and other conditions that may be imposed. In addition to other conditions that may be applicable from time to time, on the date of these CC&Rs the following standards concerning Lot and parcel clearance, landscaping and impervious surfaces are applicable: (i) for any Lot or parcel located within the initial Committed Property only, no more than sixty percent (60%) of any such Lot or parcel shall be cleared of its existing, natural vegetation, (ii) for any Lot or Parcel located within the intial Committed Property only, no more than thirty-five percent (35%) of any such Lot or parcel shall be covered by impervious surfaces, which shall include, but not be limited to any structure or paved areas located thereon, (iii) the portion of any Lot or parcel which is cleared and not covered by impervious surfaces shall be landscaped in accordance with approved plans, and (iv) landscaped areas that are covered by turf shall utilize zoysia sod in lieu of St. Augustine, floratam or other similar ground covers. It is contemplated that any Guidelines which are adopted will incorporate these and other standards that may be applicable from time to time.

G. All applications submitted for the proposed construction or reconstruction of a shared boat dock or boat house shall be executed by both applicable Lake Lot Owners, and shall include a dock maintenance agreement providing for such Owners’ maintenance obligations.

H. No landscaping or other Improvements on the Lake Lots which materially interfere with the view of the Lake by immediate neighbors who are also Lake Lot Owners shall be permitted. In its review of proposed plans and specifications of

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landscape design and materials for Lake Lots, including, but not limited to, any massed plantings, the ACB will take into consideration the effect on Lake views of such landscaping, both at the proposed time of installation and at the time when maximum growth shall have occurred.

I. Notwithstanding any provision in this Article to the contrary, the approval of the ACB shall not be required for any additions, changes or alterations within any Homes if such additions, changes or alterations are not visible from the outside of such Homes. All changes and alterations shall be subject, independently, to all applicable governmental laws, statutes, ordinances, rules and regulations.

J. Notwithstanding anything to the contrary herein contained, no construction, reconstruction, addition or alteration by Declarant shall require the prior approval or any certificate of consent of the ACB.

K. The ACB shall, from time to time, establish hurricane shutter specifications which comply with the applicable building code, and establish permitted colors, styles, and materials for hurricane shutters. Subject to the provisions of this Article, the ACB shall approve the installation or replacement of hurricane shutters conforming with the ACB’s specifications. All shutters shall remain open unless and until a storm watch or storm warning is announced by the National Weather Center or other recognized weather forecaster. An Owner or occupant who plans to be absent during all or any portion of the hurricane season must prepare their Home prior to his or her departure by designating a responsible firm or individual to care for the Home should a hurricane threaten the Home or should the Home suffer hurricane damage, and furnishing the Association with the name(s) of such firm or individual. Such firm or individual shall be subject to the approval of the Association.

L. Notwithstanding anything to the contrary herein contained, no construction, reconstruction, addition or alteration by Club Property Owner upon the Club Property shall require the prior approval or any certificate of consent of the ACB.

23. Article X, Section 19, Subsection D shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

1. Committed Property. For Lots located within the Committed Property, Declarant shall have the right to Repurchase, unless specifically waived or modified in writing by Declarant, any Unimproved Lot upon the failure of the Owner to Commence Construction within eighteen (18) twenty four (24) months after the lnfrastructure Completion Date date of recording of a deed of a Lot from the Declarant (provided that such date occurs on or after August 28, 2012 or upon the Owner’s failure to attain Completion of Construction of the Lot within eighteen (18) months after the Commencement of Construction expiration of the aforementioned 24 month period. Notwithstanding anything herein to the contrary, in no event shall the initial 18 24 month period be deemed to commence until the proper Governmental Authority issues a notice of satisfactory completion of infrastructure for the Lot or such other approval or consent that would permit the proper Governmental Authority to issue a building permit for a Home. The time periods established in this paragraph shall not be tolled by the further conveyance of the Lot from the initial Owner to a subsequent Owner.

2. Reserved.

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3. Such time periods for Commencement of Construction and Completion of Construction may be extended by Declarant in its sole discretion with respect to any Unimproved Lot by recorded instrument or contract. In the event that Declarant exercises its right to Repurchase an Unimproved Lot due to failure to timely (i) Commence Construction or (ii) attain Completion of Construction in accordance with this section, the repurchase price (“Repurchase Price“) shall equal eighty percent (80%) of the purchase price paid by the then current Owner plus the actual cost of improvements made to such Lot by or on behalf of such Owner and its successors-in-title, if any. Such costs shall be documented by invoices submitted to Declarant and shall not include any interest charges, other loan fees or carrying charges, costs associated with the repurchase, attorneys’ fees, personal expenses of Owner or its successors-in-title. In order to exercise its Repurchase rights under this subsection (the “Exercise”), Declarant shall deliver its written notice of Exercise to Owner, together with Declarant’s calculation of the Repurchase Price. Such notice shall be given no later than ninety (90) days following the expiration of either the period to Commence Construction or the period to achieve Completion of Construction, as applicable. The failure of Declarant to exercise its right to Repurchase because of an Owner’s failure to timely achieve Commencement of Construction or Completion of Construction shall not be deemed a waiver of Declarant’s right to Repurchase against any other Owner. Further, the failure of Declarant to exercise its right to Repurchase because of an Owner’s failure to timely achieve Completion of Construction.The failure of Declarant to insist upon strict compliance by an Owner with the time frames set forth in this subsection or to exercise its right to Repurchase against an Owner shall not be deemed a waiver of Declarant’s right to Repurchase against any other Owner.

4. The closing on the Repurchase pursuant to this subsection shall take place within thirty (30) days after the Declarant’s notice above. Owner shall transfer the Lot by a deed in the same form (including warranties) and containing only those title exceptions as were contained in the original deed executed by Declarant to the initial Owner of the Lot. Owner shall be obligated to pay any and all outstanding assessments or other charges due and owing under these CC&Rs and shall cure or cause to be cured all title defects or exceptions not existing at the time of the transfer of the Lots to the initial Owner by the Declarant. Real estate ad valorem taxes and prepaid assessments shall be prorated as of the date of closing. All expenses related to any such repurchase shall be paid by the Owner. In the event that there are insufficient closing proceeds to cover all of the Owner’s obligations pursuant to these CC&Rs (the unpaid amounts hereinafter, the “Deficiency“), Declarant shall have the right but not the obligation to take the Home subject to such liens which are not paid from the closing proceeds and to obtain and record a judgment against the Owner in the amount of the Deficiency which amount shall bear interest from the date of closing until paid.

5. Declarant’s Repurchase rights under this subsection are subordinate and junior to all rights of institutional mortgagees. Declarant shall have no right of Repurchase in the event of a foreclosure or proceedings in lieu of foreclosure; however, upon the transfer of title to the Home as a result of such foreclosure or proceedings in lieu of foreclosure, the Home will be subject to all of the provisions of these CC&Rs, including the provisions of this subsection. Notwithstanding anything herein to the contrary, upon the earlier to occur of: (i) the issuance of the final certificate of occupancy by the controlling governmental authority with respect to a the Home, or (ii) ten (10) twenty (20) years after the date these CC&Rs are recorded in the Public Records, the Declarant’s right to Repurchase provided for

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in this subsection shall expire and be of no further force or effect.

24. Article X. Section 21 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

HOTEL. TIMESHARE OR INTERVAL OWNERSHIP PROGRAM. Declarant, in its discretion, may, subject to any County requirements, (i) develop or operate portions of the Committed Property as a hotel or resort, or (ii) subject develop or operate certain Homes to a timeshare plan, fractional plan, exchange program or club, or travel or vacation club comprised of a trust, corporation, cooperative, limited liability company, partnership, equity plan, non-equity plan, membership program, or any such other similar programs, structures, schemes, devices or plans of any kind whereby the right to exclusive use of the Home rotates among multiple owners or members of the program on a fixed or floating time schedule over a period of years, by Supplemental Declaration. Such Supplemental Declaration may include provisions applicable only to such Homes and Owners thereof, including, but not limited to provisions governing houseguests, exchange of use rights, rental of Homes, and requirements for membership in the Club. No vacation ownership ~ timeshare plans, fractional plans, exchange programs or clubs, or travel or vacation clubs comprised of a trust, corporation, cooperative, limited liability company, partnership, equity plan, non-equity plan, membership program, or any such other similar programs, structures, schemes, devices or plans of any kind shall (a) shall be created, established, operated or maintained with respect to the Committed Property or the Lots, (b) shall acquire or accommodate a Home or Lots, and or: (c) shall not be permitted to incorporate a Home or Lot into such entity, program, structure, scheme, device or plan, except by the Declarant or except with the prior written authorization from the Declarant, which authorization may be given or withheld in the Declarant’s sole and absolute discretion, and which authorization shall be evidenced by a Supplemental Declaration executed by the Declarant, recorded in the Public Records, and containing a reference to these CC&Rs and this Section.

25. Article XIII, Section 2 shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

NOTICES. Any notice or other communication required or permitted to be given or delivered hereunder shall be deemed properly given and delivered upon the mailing thereof by United States mail, postage prepaid, to: (i) each Owner, at the United States address of the person whose name appears as the Owner on the records of the Association at the time of such mailing and, in the absence of any specific address, at the address of the Home owned by such Owner; (ii) the Association, certified mail, return receipt requested, at .5.05 S. Flagler ~. Suite 900. West Palm Beam Florida 33401 215 Celeeration Plaee, Sl:lite 200, Celebration, FL 34747 or such other address as the Association shall hereinafter notify Declarant and the Owners of in writing; and (iii) Declarant, certified mail, return receipt requested, at 505 S. Flagler Drive, Suite 900. West Palm Beach. Florida 33401 215 Celebration Plaee, Suite 200, CeleeratioA, FL 34747, or such other address or addresses as Declarant shall hereafter notify the Association of in writing, any such notice to the Association of a change in Declarant’s address being deemed notice to the Owners.

26. Article XIII, Section 9, Subsection E shall be amended as follows (additions are shown as double-underlined and deletions are shown as strike through):

Notwithstanding anything to the contrary herein contained, no amendment to these CC&Rs shall be effective which shall impair or prejudice the rights or priorities of Declarant, (including but not limited to rights Repurchase and the Featured Builder program set forth

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in Article X. Section 19 and Article VIII. Section 2. respectively) the owner of the Equestrian Property, the Club Property Owner, the ACB, the Association or any Institutional Mortgagee under the Bella Collina Documents without the specific written approval of such party affected thereby. Notwithstanding anything to the contrary contained herein, no amendment to these CC&Rs shall be effective which shall eliminate or modify the provisions of Section 6 of this Article XIII and any such amendment shall be deemed to impair and prejudice the rights of Declarant; no amendment to these CC&Rs shall be effective which shall eliminate or modify)· the provisions of Section 4 of Article II without the consent of the owner of the equestrian Property and any such amendment shall be deemed to impair and prejudice the rights of the owner of the Equestrian Property; and no amendment to these CC&Rs shall be effective which shall eliminate or modify the provisions of Article VIII without the consent of the ACB and any such amendment shall be deemed to impair and prejudice the rights of the ACB.

27. Declaration Remains in Effect. Except as expressly modified m this Third Amendment, the CC&Rs shall remain in full force and effect.

28. Severability. If any clause or provision of this Third Amendment, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under applicable present or future Laws, the remainder of this Third Amendment shall not be affected thereby. Also, if any clause or provision of this Third Amendment is illegal, invalid or unenforceable under any applicable present or future Laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such Law. Any clause or provision hereof that may prove illegal, invalid or unenforceable under any applicable present or future Laws shall not affect the legality, validity or enforceability of any other clause or provision hereof.

29. Captions. The Captions preceding the various provisions of this Third Amendment have been inserted solely for convenience of reference and shall not be used in construing the CC&Rs.

30. Execution. By its execution, Declarant certifies that this Third Amendment has been duly approved by Declarant.

31. Counterparts. This Third Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and any of which shall be deemed to be complete in itself and be admissible into evidence or used for any purpose without the production of the other counterparts.

32. Recordation. This Third Amendment shall take effect upon recordation in the Official Records of Lake County, Florida.

Signature pages follow.

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IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year first written above.

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JOINDER AND CONSENT

THE UNDERSIGNED, THE CLUB AT BELLA COLLIN A, LLC, a Florida limited liability company, as the “Club Property Owner” and pursuant to its right under Article II, Section 3 of the Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722; that ce1tain First Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina recorded September 15, 2005 in Official Records Book 2948, Page 2018; that certain Second Supplemental Declaration to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded December 22, 2006, in Official Records Book 03332, Page 1428; and that certain Second Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina recorded December 3, 2007 in Official Records Book 3548, Page 0185, all of the Public Records of Lake County, Florida, does herewith consent to the Third Amendment to Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina to which this instrument is attached.

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FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED
DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS
FOR BELLA COLLINA

THIS FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR BELLA COLLINA (this “Amendment“) is made and entered into this 251 h day of October, 2013 by DCS Real Estate Investments, LLC, a Florida limited liability company, (“Declarant“) and is joined by BELLA COLLINA PROPERTY OWNER’S ASSOCIATION, INC., a Florida corporation not for profit (“ “). Capitalized terms used in this Amendment shall have the same meanings ascribed to such terms in the CC&Rs (as defined below) unless the context otherwise requires and states:

RECITALS

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722, of the Public Records of Lake County, Florida, as the same may be amended from time to time (collectively, the “CC&Rs“);

WHEREAS, the CC&Rs relate to a residential community called “Bella Collina”;

WHEREAS, pursuant to the CC&Rs, Declarant may amend the terms of the CC&Rs; and

WHEREAS, Declarant and POA desire to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs; and

WHEREAS, in order to help assure payment of assessments in a timely manner Article VII, Section 8 of the CC&Rs requires Owners to provide the Association notice in advance of an anticipated sale; and

WHEREAS, each prospective Owner is required to complete a Club Membership Agreement before a closing on the purchase of a residence or homesite; and

WHEREAS, Article X, Section 5 of the CC&Rs requires that all leases give the Association the right to terminate the lease upon tenant’s default in observing the provisions thereof; and

WHEREAS, Article VIII of the CC&Rs requires approval of plans prior to construction and also allows the Architectural Review Board (“ARB”) to collect a reasonable fee for said services; and

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WHEREAS, the Declarant and POA intend by this Amendment to eliminate problems associated with non-compliant leases and transfers and to impose additional conditions in order to assist the POA in its timely collection of assessments.

NOW, THEREFORE, Declarant hereby amends the CC&Rs as follows:

1. Recitals. The recitals set forth above are true and correct and incorporated herein.

2. The provisions set forth in Article VII Section 8, Procedures for Proposed Sale of Lot(s), 1s
amended by deletion and substitution as follows:

Section 8. NOTICE PROCEDURES AND CONDITIONS FOR PROPOSED LEASE OR SALE OF LOT(S). In the event of a proposed lease or sale of a Lot by an Owner, other than Declarant, and excluding any sale or transfer pursuant to a decree of foreclosure in favor of an Institutional Mortgagee or pursuant to any proceeding in lieu of foreclosure by an Institutional Mortgagee or pursuant to a Tax Deed, Owner shall promptly notify the Association in writing of the proposed lease or sale within five (5) days after entering into a lease agreement or a purchase and sale agreement and no less than forty five ( 45) days before the anticipated occupancy or closing date. Said notification shall provide the name and address of the proposed tenant or purchaser, membership applications for both the Club and the Association completed and signed by the proposed tenant or purchaser and a copy of the proposed lease and/or sale agreement. Upon receipt of the notice and fully completed applications the Association shall furnish Owner and proposed tenant and/or purchaser a certificate in writing setting forth whether the Assessments have been paid and, if not, the amount due as of the anticipated occupancy or closing date. The Association may delegate its obligation to furnish such certificate and its right to collect the fee for providing such service to a management company hired by the Association. ln addition the Association shall furnish to the proposed tenant or purchaser a copy of the CC&Rs and amendments, if any, as well as a current version of The Club Membership Plan (collectively, “Governing Documents”). As a condition to the issuance of the aforementioned certificate and provision of the Governing Documents, the Association shall be entitled to charge and collect a processing fee from Owner in an amount established by the Board from time to time in its sole discretion. Furthermore, the Association shall be entitled to collect a fee from the proposed tenant or purchaser to cover the costs for reviewing said applications as well as checking the applicant’s credit and personal history. ln the event there are unpaid Assessments owed by Owner, those assessments must be paid at or before closing of the transaction and/or the commencement of occupancy. Commencement of occupancy and or a transfer of an interest in a Lot without following these procedures shall be deemed an agreement by the tenant and/or purchaser to be jointly and severally liable with the Owner for all sums owed to the Association and/or the Club in connection with said Lot and a waiver of all defenses as to liability for and/or the amount of said obligations. Furthermore, if the transferee is an entity, the principal(s) thereof shall be personally liable as though the transfer had been directly to said principal(s).

The Association and the Club shall have the right to deny membership to a prospective purchaser that does not meet their respective membership criteria as they may establish and/or modify from time to time in their sole and absolute discretion.

Upon compliance with this provision and the Governing Documents, approval of the proposed transferee and payment of all assessments then due, the Association will

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provide the proposed transferee a Certificate of Approval and Compliance which shall not be effective until signed by the transferee and an original copy is returned to the Association. With regard to a proposed sale that contemplates payment of said assessments at closing, the Certificate of Approval and Compliance shall be provided to the closing agent who shall be responsible for obtaining the approved member’s signature(s), collecting the assessments then due and thereafter recording an original copy contemporaneously with the recording of the deed. Said Certificate shall represent that the Seller has complied with the notice requirement of this provision, that the Assessments were paid at or before closing and that the purchaser’s applications for membership in the POA and the Club have been approved. The transferee’s signature shall acknowledge all obligations imposed by the Governing Documents. Any deed recorded without a fully executed Certificate of Compliance shall be void.

3. Article I, Definitions is amended by addition to include the following:

a. Section 36 a. “Lease” shall mean any agreement pursuant to which a person or persons other than the Owner, or a member of Owner’s family, (“Tenant”) is given consent by the Owner to occupy a residence in Bella Collina and said occupancy is intended to or does exceed thirty (30) days.

b. Section 47 a. “Rent” shall mean any money paid by the Tenant of a residence in Bella Collina to or for the benefit of the Owner.

4. Article VIII Section 1, is amended by addition to include the following additional paragraph:

In addition to the fee charged by the ARB for review of applications, if any, it shall be the Owners obligation to be current in their obligation to pay Assessments as a condition precedent to seeking approval of an application. To assure compliance with this provision it shall be the Owner’s obligation to include a certification from the Association that said Owner is current in all of the Owner’s obligations as of a date certain and to include such certification as part of the application. The certification must be less than 30 days old as of the date the application is submitted. Any application submitted without a current certification shall be deemed incomplete.

5. Declaration Remains in Effect. Except as expressly modified in this Amendment, the CC&Rs shall remain in full forces and effect.

6. Severability. If any clause or provision of this Amendment, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under applicable present or future Laws, the remainder of this Amendment shall not be affected thereby. Also, if any clause or provision of this Amendment is illegal, invalid or unenforceable under any applicable present or future Laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such Law. Any clause or provision hereof that may prove illegal invalid or unenforceable under any applicable present or future Laws shall not affect the legality validity or enforceability of any other clause or provision hereof.

7. Captions. The Captions preceding the various provisions of this Amendment have been inserted solely for convenience of reference and shall not be used in construing the CC&Rs.

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8. Execution. By its execution, De.clarant certifies that this Amendment has been duly approved by Declarant.

9. Recordation. This Amendment shall take effect upon recordation in the Official Records of Lake County.

IN WITNESS WHEREOF, Declarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year fist written above.

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RECITALS

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722, of the Public Records of Lake County, Florida, as the same have been amended from time to time (collectively, the “CC&Rs“);

WHEREAS, the CC&Rs relate to a residential community called “Bella Collina”;

WHEREAS, pursuant to the CC&Rs, Declarant may amend the terms of the CC&Rs; and

WHEREAS, Declarant and POA desire to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs to further assure completion of the community in the manner anticipated pursuant to the General Plan of Development; and

WHEREAS, Owners of lots in Bella Collina purchased their respective lots subject to Declarant’s rights to repurchase lots in the event the Owner did not commence and/or complete construction in a timely manner; and

WHEREAS, said repurchase right had been scheduled to expire within ten (10) years after recording of the CC&R’s, but said provision was amended so that it shall not expire until the passage of twenty (20) years; and

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WHEREAS, an Owner of a Lot in Bella Collina is required to own a membership in the Club for each lot it owns in Bella Collina unless Declarant has approved a request to combine two (2) or more lots for construction of a single residence; and

WHEREAS, an Owner is required to use a Featured builder to construct a residence within Bella Collina; and

WHEREAS, the financial viability of the Community had been impaired by economic conditions, coupled with the fact a substantial percentage of the initial purchasers having invested in the community for purposes of speculation, the result of which was that very few owners have commenced and/or completed construction in a timely manner; and

WHEREAS, due to the distressed market conditions, various individuals and/or entities have purchased Lots in Bella Collina without following the procedure for the proposed sale of lots, without purchasing the required membership and without any intent to build in a timely manner, all of which the Declarant deems contrary to the General Plan of Development; and

WHEREAS, it has become known to Declarant that one of the most commonly expressed concerns about Bella Collina by both existing residents and potential new residents is relative to enforcement of the repurchase provision to assure that lot owners and purchasers are sincere about living in the Community, not just speculating on the future value of lots; and

WHEREAS, recent improvements in the economy coupled with Oeclarant’s recent efforts have resulted in a renewed interest in the community by the general public; and

WHEREAS, the CC&R’s expressly state that failure of the Declarant to exercise the right to repurchase is not a waiver of said right and that the repurchase price is established at eighty percent (80%) of the price paid by the then owner; and,

WHEREAS, Declarant, recognizes the importance of enforcing said provision to provide a reasonable expectation that the Community will be completed, but at the same time being considerate to present owners that enforcement of the provision not act as a penalty or forfeiture; and

WHEREAS, the CC&R’s provide that they are to be liberally construed to effectuate their purpose of creating a uniform plan for the development of a residential community, and

WHEREBY, Declarant deems this amendment/clarification of the CC&R’s to be consistent with and in furtherance of said purpose.

NOW, THEREFORE, it is hereby agreed:

1. Recitals. The recitals set forth above are true and correct and incorporated herein.

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2. The repurchase provisions set forth in Article X, Section 19, 0, subparts 1 and 2 of the CC&Rs are replaced in their entirety and subparts 3 and 4 are amended to the extent they are inconsistent therewith as follows, to wit:

In the event more than 18 months have passed since the recording of this Amendment and no construction has commenced on any Lot the Declarant shall have the right, but not the obligation to purchase said lot for an amount equal to I 00% of the price paid by the owner of record as of the date Declarant notifies such owner of intent to repurchase. This right may be exercised at any time after said 18 month period has lapsed and before the sooner of the date the Owner seeks plan approval or expiration of the Oeclarant’s repurchase period by delivery of a written notice from the Declarant to the Owner’s last known address by regular and certified mail, return receipt requested.

The closing on the purchase pursuant to this subsection shall take place within one hundred twenty ( 120) days after Declarant’s notice above.

Notwithstanding the foregoing, such owner shall have a ninety (90) day grace period thereafter to initiate plan review, in which case the closing date shall be delayed so long as said owner diligently pursues commencement and completion of construction.

3. Article VII, Section 8 is amended by addition of the following language:

In no event shall a purchaser be allowed to acquire more than one lot in Bella Collina without making affirmative representations satisfactory to the Declarant that the purchase is not for the purpose of speculation.

4. Article Vlll, Section 2.E. is amended by interlineation of the underlined language set forth below:

Declarant shall provide a list of Featured Builders to all Owners. To qualify as a Featured Builder, a builder must satisfy certain criteria and requirements established by Declarant, including, without limitation, the execution and delivery of a Featured Builder master agreement between Declarant and the Featured builder, which may provide for the payment to Declarant by the Featured Builder of fees in Declarant’s sole, absolute and unfettered discretion. Said fee shall be based on the greater of the contract price between the Owners and the Featured Builder or in the event an Owner is building a single residence on more than one Lot, the price per square foot reflected in said contract multiplied by the minimum square footage for each of the combined lots. However, the criteria and requirements established by Declarant.

5. Execution. By its execution, Declarant certifies that this Amendment has been duly approved by Declarant.

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6. Recordation. This Amendment shall take effect upon recordation in the Official Records of Lake County.

IN WITNESS WHEREOF, Oeclarant has caused these presents to be executed in its name and its seal to be affixed hereto as of the day and year fist written above.

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DECLARATION OF JOINDER AND RATIFICATION BY A SUPER MAJORITY OF THE BELLA COLLINA LOT OWNERS OF ALL PRIOR ACTS OF THE DECLARANT WITH REGARD TO AMENDING OR SUPPLEMANTING THE COVENANTS, CONDITIONS AND RESTRICTIONS FOR BELLA COLLINA (CC&Rs”)

This Declaration of Joinder and Ratification by a Super Majority of The Bella Collina Lot Owners of all Prior Acts of the Declarant with regard to the amending or supplementing the CC&Rs for BELLA COLLINA (this “Declaration“) is made and entered into this 26th day of January, 2016 by DCS Real Estate Investments, LLC, a Florida limited liability company, (“Declarant“) and is joined by BELLA COLLINA PROPERTY OWNER’S ASSOCIATION, INC., a Florida corporation not for profit (“POA”) and other Bella Collina Lot Owners. Capitalized terms used in this Amendment shall have the same meanings ascribed to such terms in the CC&Rs (as defined below) unless the context otherwise requires and states:

RECITALS

WHEREAS, the Original CC&Rs for Bella Collina established a community consisting of 398 lots and expressing an anticipation that the community would eventually be comprised of eight hundred and ten (810) Lots and that the term Total Developed Lots may refer to a number greater or less than eight hundred and ten (81 O); And,

WHEREAS, the Original CC&Rs for Bella Collina and all variations thereof that have ever been recorded in the Public Records also expressly contemplated that the total number of Lots in Bella Collina may increase or decrease by reconfiguring Committed Property and/or by adding additional property; And,

WHEREAS, the Original CC&Rs for Bella Collina and all variations thereof that have ever been recorded in the Public Records have provided that if and when property is added or subtracted from Bella Collina it will be done “as though originally designated as Committed Property;” And,

WHEREAS, the Original CC&Rs for Bella Collina and all variations thereof that have ever been recorded in the Public Records define “Turnover Date” as the date upon which Class A members, including the Declarant, assume control of the Association and elect the Board; And,

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WHEREAS, the Original CC&Rs for Bella Collina and all variations thereof that have ever been recorded in the Public Records provide that in any conflict between the CC&Rs and the Articles of Incorporation for the Association, the provisions of the CC&Rs shall control and that they shall be liberally construed to effectuate their purpose; And,

WHEREAS, the Original CC&Rs for Bella Collina and all variations thereof that have ever been recorded in the Public Records also contemplated a Turnover Date could occur the sooner of a date designated by the Declarant or after the conveyance of ninety percent (90%) of the lots; And,

WHEREAS, the Declarant had contracted in August, 2004 to purchase additional property (“Monteverde Estates”) to add to Bella Collina, but did not record the Supplement Declaration adding the Monteverde Estates property to Bella Collina until December 22, 2006; And,

WHEREAS, at all times material hereto the Florida Statutes have provided a date upon which a Declarant must tum over control of an association to the non-developer members which time does not occur until three months after 90 percent of the parcels in all phases of the community that will ultimately be operated by the homeowners’ association have been conveyed to members; And,

WHEREAS, in August of 2005 the governing documents identified 80 I lots and 90% of said lots had been conveyed to other owners including but not limited to Preferred Builders, Key employees of Declarant and Celebrities all in exchange of certain Declarant rights and obligations and as part of Declarant’ s effort to promote the community; And

WHEREAS, the total number of parcels in all phases of the community that would ultimately be operated by the association was 879 and the total number oflots owned by Members other than the Declarant and its assigns never equaled or exceeded 90% of the Total Developed Lots; And,

WHEREAS, at that time, the original Declarant expressed that under the circumstances it was not obligated under the CC&Rs or the statute to turnover control of the Association to the non-developer members and that it would remain in control of the Association. Furthermore no non-developer members were residing in the community or participating in the Association’s efforts in any way, shape. manner or form: And,

WHEREAS, On December 22. 2006 the Declarant recorded a Supplemental Declaration so that those without actual notice of the developers intent to add more lots to the community were

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thereupon given constructive notice of the developers intent to add more lots to the community; And,

WHEREAS, in 2008 non-developer members were appointed to a committee formed by the Association to explore turnover of the Association but said committee was unable to gamer sut1icient member participation and by that time a vast majority of the non-developer Owned lots were in foreclosure and/or delinquent in their assessments and taxes; And,

WHEREAS, In June 2012 the original developer transferred its interests in the community including its position as Declarant to DCS Real Estate Investments, LLC (“DCS”); And,

WHEREAS, DCS has since taken steps to complete the plating of Monteverde Estates into 78 lots as originally expressed by the original developer and to reconfigure the committed property to create more Lots within Bella Collina; And,

WHEREAS, a few non-developer Lot Owners, two of which were on an unsuccessful “Turnover Committee” in 2008, are seeking to prevent the Association from collecting assessments; And

WHEREAS, DCS and all Lot Owners joining in this declaration of ratification are desirous of eliminating the uncertainty created by such litigation and/or the possible injury to the community lot values that could be caused by transferring control to absentee members; And,

WHEREAS, The Declarant has received authority from 118 other Bella Collina Lot Owners to sign a joinder in this amendment on their behalf and as such, including joinder by the Declarant, this Declaration is joined by the Owners of 606 (75.66%) of the lots within the prior 801 lot plan. Declarant also joins in this on behalf of all additional lots that have been created in Bella Collina including those seventy six (76) lots, formerly seventy eight (78) lots, on the property encumbered by the Second Supplemental Declaration and the additional sixty seven (67) lots approved by the Lake County Board of County Commissioners under Ordinance No. #2014-48 on July 22, 2014. A list of the 801 lot plan Lots whose Owners have joined in this document is attached hereto and incorporated herein by reference; And,

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WHEREFORE,

IT IS HEREBY AGREED:

1. The above recitals are true and correct and are incorporated herein by reference.

2. As of no later than August 2005 the Declarant anticipated the addition of Montverde Estates to Bella Collina as 78 lots and as such the Declarant was not obligated under the applicable statute to tum over control of the Association to the non-developer members.

3. At no time in the history of Bella Collina have there been more than 720 lots owned by members that were not associated with the Declarant relative to its efforts to promote the construction of homes for re-sale in Bella Collina i.e. members of the Preferred Builders List, key Developer staff members and golf celebrities that entered into promotional agreements.

4. It is in the best interest of the existing Bella Collina Lot Owners for the Declarant to be able to remain in control of the Association until the bench mark for mandatory turnover as prescribed by Florida law has been met.

5. To the extent the CC&Rs may be construed to have required a turnover at an earlier date, such interpretation is declared to be incorrect.

6. All acts done by DCS as Declarant are hereby ratified unanimously by the Board of the POA and by more than Two-Thirds (2/3) of the Owners of Lots in Bella Collina, including Declarant.

(Signature Pages to Follow)

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SIXTH AMENDMENT TO SECOND AMENDED AND RESTATED
DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS
FOR BELLA COLLINA

THIS SIXTH AMENDMENT TO SECOND AMENDED AND RESTATED DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR BELLA COLLINA (this “Sixth Amendment“) is made and entered into this 4th day of August 2016, by DCS Real Estate Investments, LLC, a Florida limited liability company, (“Declarant“) and is joined by BELLA COLLINA PROPERTY OWNER’S ASSOCIATION, INC., a Florida corporation not for profit (“POA“). Capitalized terms used in this Amendment shall have the same meanings ascribed to such terms in the CC&Rs (as defined below) unless the context otherwise requires and states:

RECITALS

WHEREAS, Declarant and POA previously executed that certain Second Amended and Restated Declaration of Covenants, Conditions and Restrictions for Bella Collina, recorded April 18, 2005 in Official Records Book 2810, Page 722 , of the Public Records of Lake County, Florida, as the same have been amended from time to time (collectively, the “CC&Rs“);

WHEREAS, the CC&Rs relate to a residential community called “Bella Collina”;

WHEREAS, Declarant desires to further amend the CC&Rs to revise and clarify provisions regarding boardwalks, boat docks and boathouses and the easements related to the construction and use of such facilities; and

WHEREAS, pursuant to the CC&Rs, Declarant may amend the terms of the CC&Rs; and

WHEREAS, Declarant desires to amend the CC&Rs by imposing additional covenants, conditions and restrictions on the property subjected to the CC&Rs

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NOW, THEREFORE, Declarant hereby amends the CC&Rs as follows:

1. Recitals. The above recitals are true and correct and are incorporated herein by reference.

2. Definitions. The definition of “Improvement” in Article I, Section 31 that was amended by the Third Amendment to the CC&Rs, as recorded in Official Records Book 4208, Page 409, of the Public Records of Lake County, Florida, is further amended as follows (additions are shown as double underlined text):

Section 31. “IMPROVEMENT” shall mean all structures or artificially created conditions and appurtenances thereto of every type and kind located within Bella Collina, including without limitation, buildings, walkways, berms, fountains, sprinkler pipes, gatehouses, roads, driveways, fences, retaining walls, underground footers and other foundation supports, stairs, landscaping, hedges, plantings, poles, swings, tennis courts, swimming pools, covered patios, screen enclosures, boardwalks. boat docks. boathouses. basketball backboards and hoops, signs, site walls, gazebos, mailboxes, decorate street lights and signs.

3. Lake Lots. The second paragraph of Article II, Section 5 regarding LAKE LOTS is amended as follows (additions are shown as double underlined text; deletions are shown as striken text):

Section 5. LAKE LOTS. Notwithstanding anything contain herein to the contrary, and subject to the rights and obligations of the Association to maintain the Lakes as aforesaid for water retention, drainage, irrigation and water management purposes for all of Bella Collina and the right of the Association to adopt rules from time to time with respect to the use of the Lakes for such purposes, the Lakes shall be reserved for the private use and enjoyment of all Owners, their family members, guests, invitees and tenants, but only in accordance with these CC&Rs.

Certain Lake Lots will be approved in writing by the Association from time to time, in the Association’s sole and absolute discretion and in compliance with all applicable permits, laws, rules and regulations, for the construction of a boardwalk or boat dock facility with or without a boathouse that will either be for the sole use of the Owner or for shared use with an Owner of an adjacent Lot as provided herein. Only the following Lots on Pine Lake shall be allowed to have a boardwalk or boat dock: Lots 323-398. 43A. 402.404.406.408. 410.412.414,416,418.420,422.424.426,427.428.430,432.435. 437.439.441.442.443.444,445.446.447.448.450.452.454.456.458.460,462,464. 466, and 467. Only the following Lots on Lake Apopka shall be allowed to have an individual boardwalk or boat dock: Lots 72-100, Lots 116-143. The following Lots on Lake Apopka shall be allowed to have a shared boardwalk or boat dock: Lots 19 and 20. Lots 21 and 22, Lots 23 and 24, Lots 25 and 26. Lots 27 and 28. Lots 29 and 30. Lots 31 and 32, Lots 33 and 34. Lots 35 and 36, Lots 37 and 38. Only one (1) boardwalk or boat dock shall be permitted for each Lot or combination of Lots developed as a single home site. When Lake Lots are combined into a single home site, any right the Lake Lot.

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Owner may have had to an additional boardwalk or boat dock shall immediately revert to the Declarant and may thereafter be assigned by the Declarant to another Lake Lot Owner in the Declarant’s discretion. Only those Lots on Lake Apopka that are approved by the Association to construct a boardwalk or boat dock will also be allowed to construct a boathouse as part of the boardwalk or boat dock structure. Boardwalks or boat docks on Pine Lake shall not be allowed to include boathouses. Floating docks or platforms of any kind are prohibited on Pine Lake and on Lake Apopka. The construction, use and maintenance of approved such boardwalk boat dock and boathouse facilities shall at all times be in accordance with the rules, regulations, terms and conditions that are established by the Association from time to time which shall include, but not be limited to, provisions setting forth Owners’ rights and responsibilities relative to access, use, maintenance and repair. The Association hereby reserves the right to temporarily or permanently suspend the use of any boardwalk. boat dock or boathouse facilities in the event that the foregoing requirements are not complied with. Notwithstanding anything provided herein to the contrary, the Declarant shall not be required to obtain the Association’s approval to construct boardwalk or boat dock facilities; provided, however, that if the Declarant constructs any boardwalk. boat dock or boathouse facilities to be shared by adjacent Owners, the Declarant, prior to conveying such facilities to the Owners, shall require the adjacent Owners to execute a separate written instrument between the adjacent Owners setting forth the terms of the use and maintenance of the shared facilities dock facility, in such form that may be required by the Association.

Fishing in the Lakes shall be permitted; however, notwithstanding anything contained herein to the contrary, an Owner shall only access Pine Lake or Lake Apopka from boat ramps that are made available for such use as Association Property. Any Owner whose Lot is a Lake Lot (“Lake Lot Owner”) shall also be entitled to access Pine Lake and Lake Apopka from any dock or shared dock facility which such Owner has the express right to utilize under a separate instrument setting forth the terms of use of such dock or shared dock facility. If an Owner is not a Lake Lot Owner, or if a Lake Lot Owner wishes to access a Lake other than that which an Owner’s Lot is adjacent to or another area of the same Lake, access to the Lake shall be exclusively from boat ramps that are made available for such use as Association Property. In addition, no Owner shall be permitted access to or to fish in any Lake Bank Zone (defined below) which immediately abuts a Lake Lot owned by another Owner.

No planting, fencing or other Improvements or additions to the conservation easement areas surrounding the Lakes and outside the Lot is permitted. No installation of sand or other materials intended to simulate a beach shall be permitted along the Lake banks or within the conservation easement areas, Lake Bank Zones or rear yards of Lake Lots. Swimming in the Lakes is prohibited. Watercraft and trailers shall not be stored on the Lake banks or within the conservation easement areas or Lake Bank Zones. Lake Lot Owners who have been permitted to construct boat docks within designated conservation areas in accordance with the Bella Collina Conservation Easement conservation easements may maintain their boat overnight at such boat dock provided that such Owner has installed and utilizes a boat lift that raises the boat fully and completely out of the water. No removal or damage to littoral or wetland plantings is permitted.

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An imaginary line will be extended from the side property lines at the back of each Lake Lot down to the water’s edge. The area encompassed between the rear property line and the water’s edge between these imaginary lines shall be defined as the “Lake Bank Zone” as to each Lake Lot. Unless the Association or a Neighborhood Association expressly assumes responsibility for maintaining the landscaping on the Lake Lot, the Lake Lot Owner of each Lake Lot shall maintain and care for the landscaping located within his/her Lake Bank Zone. Irrigation of the Lake Bank Zone, including, by way of example and not limitation, the landscaping and littoral plantings located therein will be the responsibility of the Lake Lot Owner. Notwithstanding anything herein to the contrary, the Association shall be responsible for the maintenance of any portion of the Lake Bank Zone located within the conservation easements to the water’s edge. The Association shall also be responsible for the maintenance, repair and replacement of the littoral plantings beyond the water’s edge in all Lakes. The Association shall further be responsible for ensuring that all maintenance, repair, and replacement activities by Owners and the Association are consistent with the Pine Island Shoreline Management Plan dated February, 2004 prepared by EarthBalance, as such plan may be amended from time to time.

4. Boats. Article IV, Subsection 4.(3) is amended as follows (additions are shown as double underlined text; deletions are shown as striken text):

(3) Boats. All boats must be stored within an Owner’s garage or within an area designated by the Declarant for boat storage; provided, however, the Declarant is prohibited from providing boat storage facilities for Owners within the conservation easement areas. Lake Lot Owners owning boat docks constructed within designated conservation areas in accordance with the Bella Collina Conservation Easement may maintain their boat overnight at such boat dock provided that such Owner has installed and utilizes a boat lift that raised the boat fully and completely out of the water. No overnight mooring to the boat docks will be allowed. This condition solely relates to the property burdened by the Bella Collina Conservation Easement.

5. Easements. Article IV, Section 7 is amended as follows (additions are shown as double underlined text; deletions are shown as striken text):

Section 7. EASEMENTS FOR CONSTRUCTION OF BOARDWALKS. BOAT DOCKS AND BOATHOUSES. Declarant hereby reserves, grants, and covenants for itself and all future Lake-Lot Owners who are permitted to construct boat docks in accordance with the Bella Collina Conservation Easement recorded at O.R. Book 2519. Pages 105-127. of the Public Records of Lake County. Florida. attached hereto as Exhibit “E,” and as it may be from time to time amended. that all of the foregoing shall have a perpetual nonexclusive easement for construction of a boardwalk and associated boat dock and. if specifically allowed by these CC&Rs. a boathouse within the conservation easement areas, buffer areas, or Lake Bank Zones in the rear of the Lake Lot Owners’ lot extending from lot line to lot line across the lot and to the normal high water line of the lake. and including the appurtenant riparian rights; provided, however, the construction of such facilities and uses shall be subject to the provisions of these CC&Rs and the rules,

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regulations, and permits of the SJRWMD, Lake County. and all other applicable governmental agencies. So long as the boardwalk. boat dock or boathouse if any does not impede normal pedestrian traffic within the Lake Apopka Trail or the Pine Lake Trail then the right to use such boardwalk. boat dock or boathouse shall be exclusively for the benefit of the Lake Lot Owner Cor Lake Lot Owners in the case of shared docks). their family members. guests. invitees and lessees. Declarant hereby reserves, grants, and covenants for itself and all future Owners, their family members, guests, invitees and lessees, Institutional Mortgagees of the Committed Property (or portions thereof), and to the Association, that all of the foregoing shall have a perpetual nonexclusive easement to move across such facilities should such facilities impede normal pedestrian traffic within the Lake Apopka Trail or the Pine Lake Trail.

6. Declaration Remains in Effect. Except as expressly modified m this Sixth Amendment, the CC&Rs shall remain in full force and effect.

7. Severability. If any clause or provision of this Sixth Amendment, or the application of any such clause or provision to any person or circumstance, shall be held illegal, invalid or unenforceable under any applicable present or future Laws, the remainder of the Sixth Amendment shall not be affected thereby. Also, if any clause or provision of this Sixth Amendment is illegal, invalid or unenforceable under any applicable present or future Laws, then such clause or provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such Law. Any clause or provision hereof that may prove illegal, invalid or unenforceable under any applicable present or future Laws shall not affect the legality, validity or enforceability of any other clause or provision hereof.

8. Captions. The Captions preceding the various provisions of this Sixth Amendment have been inserted solely for convenience of reference and shall not be used in construing the CC&Rs.

9. Execution. By its execution, Declarant certifies that this Sixth Amendment has been duly approved by Declarant.

10. Recordation. This Sixth Amendment shall take effect upon recordation in the Official Records of Lake County, Florida.

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