Instrument #2022025031 #33 Book:8196 Page:4804
ofa Dwelling to(a)a co
_ovvi‘ofthe Dwelling;(b)the Owner's estate, surviving spotise or child upon
the death ofthe
Owner;(0) a,entitY owned by the grantor of title and/or the grantor's'spouse;(d)to a Mortgagee or Association puisuarit to a Final Judgment of Foreclosure br deed in lieu of foreclosure,. Prior to Turnover, Declarant oliy increase the Re-Sale Assessment in subsequent Fiscal Years, provided that such increase shall not b greater than ten percent(10%) over the prior Fiscal Year. Subsequent to Turnover, Association may iocrease the Re-Sale Assessment in subsequent Fiscal Years, provided that such increase shall not be greater than ten percent(10%)overthe prior Fiscal Year. Neither Declarant nor Association makes any repritatation or warranty that, at Turnover, any • portion of these Re-Sale Assessment shall be in the accoants ofthe Association, as these monies may be used to offset Declarant's Deficit Funding. Section 6.06. Certificate Upon request, the Association, pursuant to FL. STAT. § shall furnish to shall be conclusive evidence in favor of bonage third parties relying thereon of the payment of any Assessment therein stated to have been paid. TileiAssociation may charge a fee for the preparation ofsuch certificate, and the amount ofsuch fee must be lated on the certificate. Unless sold or conveyed by or to Declarant, no Lot or parcel may be sold or conveyed unless an estoppel certificate pursuant to FL. STAT. § is obtained and all amounts set forth therein are paid prior to the sale or conveyance. any Owner a:obrtlficate setting forth whether all required Assessments have been paid. Such certificate, subject to Ilhe limitations and terms of FL. STAT. § Section 6.07. Subdrdination. Expressly subjectto the Mortgagee's compliance with FL.STAT. §720.3085(2)(c) and said 'Mortgagee's payment of all unpaid Assessments resulting from said Mortgagee's compliance with; or failure to comply with, said statute, all Assessment Liens shall be subordinate to the lien ofany Mortgage. Any Mortgagee which obtains title to a Lot by lawful foreclo,sure ofa Mortgage or by lawful and proper voluntary conveyance by deed in lieu ofsuch foreclosure,shall not be liable for the uncollected Assessments or interest, late charges or collection costs pertaining to such Lot or chargeable to the former Owner thereof which became due prior to the acquisition of title ofthe Lot by said Mortgagee. Such unpaid Assessment amounts shall be deemed a Common Expense collectible from all Owners,including the acquiring Mortgagee,on a pro-rata basis. Any such transfer to a Mortgagee under this Section 6.07 or otherwise shall not relieve the transferor of personal responsibility for any prior Assessments nor the Lotfrom the lien for Assessments thereafter falling due. ANYTHING TO THE CONTRARY SET FORTH IN THE GOVERNING DOCUMENTS OR OTHERWISE: (A) DECLARANT DOES NOT AND IS NOT PROVIDING THE OWNERS OR MEMBERS A GUARANTEE OF THE LEVEL OF ASSESSMENTS AS CONTEMPLATED BY SECTION 720.308 OF ASSOCIATION ACT; (B) THERE IS NO MAXIMUM GUARANTEED LEVEL OF ASSESSMENTS DUE FROM OWNERS OR MEMBERS AS CONTEMPLATED BY SECTION 720.308 OF ASSOCIATION ACT;AND(C) DECLARANT'S ELECTION FROM TIME TO TIME TO DEFICIT FUND IS NOT A GUARANTEE OF THE ASSESSMENTS AS CONTEMPLATED BY SECTION 720.308 OF ASSOCIATION ACT.IN THE EVENT DECLARANT ELECTS FROM TIME TO TIME, IN ITS SOLE DISCRETION,TO DEFICIT FUND IN LIEU OF PAYING ASSESSMENTS ON THE SAME BASIS AS OTHER OWNERS ("DEFICIT FUND"), DECLARANT SHALL SPECIFICALLY ELECT TO DEFICIT FUND AS PROVIDED IN SECTION 720.308(1)(b),FLORIDA STATUTES(2020).AS SUCH,THEPROVISIONS OF SECTIONS 720.308(2)THROUGH 720.308(6), FLORIDA STATUTES (2020), ARE NOT APPLICABLE TO DECLARANT OR THE Section 6.08. Funding by Declarant. NOTWITHSTANDING CALCULATION OF THE DEFICIT FUNDING OBLIGATION OR OTHER AMOUNTS DUE FROM DECLARANT.AS OF THE EFFECTIVE DATE,UNTIL TURNOVER OCCURS OR DECLARANT NO111-4ES THE ASSOCIATION OTHERWISE, DECLARANT ELECTS TO DEFICIT FUND, THEREBY OBLIGATING ITSELF,PURSUANT TO SECTION 720.308(B)OF ASSOCIATION ACT,
28
58771933;7
Made with FlippingBook - professional solution for displaying marketing and sales documents online