Instrument# 2014-131959 # 2 Book: 7013 Page: 3866
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• WHEREAS,Section 5.3 ofthe Savannah Pointe Declaration provides that,other than lots owned by the Developer, "all undeveloped and unimproved Lots which have been purchased by, and or sold to any person or entity... shall not pay any[Savannah Pointe] Association dues until the Townhome or Dwelling is complete and a certificate of occupancy issued"; and WHEREAS, Geosam now desires to amend and modify Section 4.3 of the Master Declaration to add a seventh grammatical paragraph to reflect the foregoing exemption from obligation to pay assessments to the Master Association in regard to undeveloped lots applicable to the lot owners in Savannah Pointe. NOW,THEREFORE,for and in consideration of the premises contained herein, Geosam, in its capacity as Developer under the Master Declaration, hereby amends and modifies the Declaration and declares as follows:
. Recitals. The Recitals above are hereby incorporated into this Amendment.
2. Amendment. The Master Declaration is hereby amended and modified as ofthe Effective Date by the addition of a seventh grammatical paragraph, underlined for emphasis below,to conclude Section 4.3 ofthe Master Declaration:
Upon approval and direction of a maioritv of the members on the Board of Directors, established in writing with or without a meeting, owners of undeveloped and unimproved Lots in Savannah Pointe at Venetian Bay,as these Lots are defined in the Savannah Pointe Declaration of Covenants, recorded at O.R. Book 6040, Page 143, et. seq., Public Records of Volusia County, as amended,shall not be obligated to pay Master Association assessments on such undeveloped and unimproved lots for a period of time as determined by the Board, or until a Certificate of Occupancy is issued by the appropriate state, county or municipal government in regard to the Townhome,Dwelling or House being constructed thereon. Upon issuance of such Certificate of Occupancy, unless otherwise determined by the Board in writing with or without a meeting, the owner shall be assessed pro-rata for the remainder of the year in regard to the regular annual assessment.
The foregoing amendment to the Master Declaration does not substantially change the character,nature or general scheme ofdevelopment ofthe Project.
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