Instrument #2022025031 #32 Book:8196 Page:4803
Party Purchaser that is not a Builder. After the one-time Start-Up Assessment has been paid as to a Lot in the Property, subsequent purchasers of the same Lot shall not be required to pay said Start-Up Assessment. The funds derived from the Start-Up Assessments are income to the Association and shall be used at the discretion of Board for any purpose, including without limitation, the reduction of the Declarant's Deficit Funding, future and existing capital improvements, operating expenses, Common Expenses, support costs and start-up costs. The Annual Assessment for each Lot on any Additional Property shall commence upon the closing of the first sale by Declarant of any Lot in the Additional Property to a Third Party Purchaser, or upon the occupancy ofthe first Lot in the Additional Property by a Third Party Purchaser, whichever is earlier. The initial Annual Assessment for the Lots on any Additional Property shall be the same as the then current Annual Assessment for the remainder ofthe Property, or as otherwise set forth in the relevant Supplemental Declaration. (c) The Annual Assessment for each Lot on any Additional Property shall commence upon the closing ofthe first sale by Declarant ofany Lot in the Additional Property to a Third Party Purchaser, or upon the occupancy of the first Lot in the Additional Property by a Third Party Purchaser, whichever is earlier. The initial Annual Assessment for the Lots on any Additional Property shall be the same as the then current Annual Assessment for the remainder of the Property, or as otherwise set forth in the relevant Supplemental Declaration. (d) Notwithstanding anything contained in this Declaration to the contrary, in the event ofa sale ofa Lot to a Builder("Builder Lot"), no Assessment provided for in this Declaration shall arise or commence regarding said Builder Lot until such time that the Lot is conveyed to a Third Party Purchaser that is not a Builder, or a Third Party Purchaser that is not a Builder takes occupancy of the Lot(with or without a Dwelling located thereon), whichever is earlier.In furtherance ofthe foregoing, provided said Lot has been acquired from Declarant, in no event shall a Builder be obligated to pay any Assessment whatsoever concerning its Lots, other than any Individual Assessments. Prior to Turnover, Declarant shall Deficit Fund as necessary regarding any Builder Lots. After Turnover, to the extent Assessments(other than Individual Assessments)shall become due regarding any Builder Lots under this Declaration or under Florida law,Declarant shall be and remain obligated to pay same. Notwithstanding anything contained in this Declaration to the contrary,in the event ofa sale ofa Lot by Declarant to NVR, Inc., a Virginia corporation, or by Declarant to any entity controlled by NVR,Inc(collectively,"NVR"), no Annual Assessments provided for in this Declaration shall arise or commence regarding said Lot (each, an"NVR Lot") until such time that the Lot is conveyed by NVR to a Third Party Purchaser, or a Third Party Purchaser takes occupancy of the Lot (with or without a Dwelling located thereon), whichever is earlier. In furtherance ofthe foregoing, provided said Lot has been acquired from Declarant, in no event shall NVR be obligated to pay any Annual Assessments concerning its Lots. Prior to Turnover,Declarant shall Deficit Fund as necessary regarding any NVR Lot's Annual Assessments. After Turnover, to the extent Annual Assessments shall become due regarding any NVR Lots under this Declaration or under Florida law,Declarant shall be and remain obligated to pay same. (e) On each subsequent conveyance of a Dwelling following the initial sale of such Dwelling to the first Third Party Purchaser thereof or to any party other than Declarant, the Association shall levy and impose on such Dwelling a capital assessment of Three Hundred Fifty and No/100 Dollars($350.00)(the"Re-Sale Assessment"), which Re-Sale Assessment shall be shown on any estoppel certificate issued by or on behalfofthe Association in connection with the conveyance ofthe Lot to said purchaser or grantee; shall be nonrefundable; shall be in addition to, and not in lieu of, the Assessments levied on the Lot; shall not be considered an advance payment of any portion of Assessments; and shall be used by the Association exclusively for purposes which provide a direct benefit (as defined in 77 Fed. Reg. 15574(Mar. 16,2012))to the Property. The Association may use the Re-Sale Assessment for any ofthe purposes and services set forth in this Declaration, including the reduction of the Declarant's Deficit Funding. The Re-Sale Assessment shall not apply in instances oftransfer of title
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58771933;7
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