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PROTECTIVE PROPERTY RIGHTS
through the
ROTONDA MEADOWS CONSERVATION ASSOCIATION

THIS DECLARATION, (herein called the “declaration”) made this 10th day of September, A.D., 1971 by CAPE CAVE CORPORATION, a Delaware corporation, (hereinafter called the ‘Developer”)

WITNESSETH:

WHEREAS, Developer is the owner of the real property described in Article II of this Declaration and desires there be created thereon a residential community with permanent parks, open spaces and other common facilities for the benefit of said community; and

WHEREAS, Developer desires to provide for the preservation of the values and amenities in said community and for the maintenance of said parks, playgrounds, open spaces and other common facilities; and, to this end, desires to subject the real property described in Article II (together with such additions as may hereafter be made thereto as provided in said Article II) to the covenants, restrictions, easements, charges and liens, hereinafter set forth, each and all of which is and are for the benefit of said property and each owner thereof, and

WHEREAS, Developer has deemed it desirable, for the efficient preservation of the values and amenities in said community, to create a corporate entity to which will be delegated and assigned the powers of maintaining and administering and enforcing the covenants and restrictions and collecting and disbursing the assessments and charges hereinafter created; and

WHEREAS, Developer as soon as reasonably practicable hereafter will incorporate under the laws of the State of Florida, as a non-profit corporation, THE ROTONDA MEADOWS CONSERVATION ASSOCIATION, for the purpose of exercising the functions aforesaid;

NOW THEREFORE, the Developer declares that the real property described in Article II, and such additions thereto as may hereafter be made pursuant to Article II hereof, is and shall be held, transferred. sold, conveyed and occupied subject to the covenants, restrictions, easements, charges and liens (sometimes referred to as “covenants and restrictions”) hereinafter set forth.

ARTICLE I

Definitions

Section 1. The following words when used in this Declaration or any Supplemental Declaration (unless the context shall prohibit) shall have the following meanings:

(a) “Association” shall mean and refer to THE ROTONDA MEADOWS CONSERVATION ASSOCIATION, a Florida non-profit corporation, to be hereafter organized and as referred to in the Recitals to this Declaration.

(b) “The Properties” shall mean and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

(c) “Common Properties” shall mean and refer to those areas of land shown on any recorded subdivision plat of the Properties, including but not limited to parks, ponds, lakes, canals and recreational areas, except that it shall not include (i) any platted Lot unless the Association is the Owner thereof, and (ii) any property which has been dedicated to and accepted by any public authority or body which has assumed the obligation to maintain the same.

(d) “Lots” shall mean and refer to any platted Lot shown upon any recorded subdivision map of the Properties with the exception of Common Properties as heretofore defined.

(e) “Structure’ shall mean any construction not otherwise specifically described and includes, but is not limited to, parts and additions to buildings, cisterns, walls, fences and other enclosures, television and other antennas, walks, driveways, seawalls, docks and boat landing platforms.

(f) “Owner” shall mean and refer to the record owners (including without limitation the Developer) whether one or more persons or entities, of the fee simple title to any Lot, whether one or more persons or entities, of the fee simple title to any Lot except that (i) where a Lot has been sold by Developer under an agreement for deed, the buyer thereunder (provided he is not in default under said agreement), and not the Developer, shall be deemed to be the Owner, and (ii) notwithstanding any applicable theory of mortgage, the term Owner shall not mean or refer to a mortgagee unless and until such mortgagee has acquired title pursuant to foreclosure or any proceeding in lieu of foreclosure.

(g) “Member” shall mean and refer to all those Owners who are members of the Association as provided in Article Ill, Section 1, hereof.

(h) “Developer” means Cape Cave Corporation, a Delaware corporation, and its successors and assigns.

ARTICLE II

PROPERTY SUBJECT TO THIS DECLARATION:

ADDITIONS THERETO

Section 1. Existing Property. The real property which is, and shall be held, transferred, sold, conveyed, and occupied subject to this Declaration is located in Charlotte County, Florida, and is more particularly described as follows:

That certain subdivision known as Rotonda Meadows as recorded in Plat Book 10, at pages 15A to 15-Z-18 inclusive, in the Public Records of Charlotte County. Florida.

Section 2. Mergers. Upon a merger or consolidation of the Association with another association as provided in its Articles of Incorporation. its Properties. rights and obligations may, by operation of law, be transferred to another surviving or consolidated association, or alternatively, the properties, rights and obligations of another association, may, by operation of law, be a surviving corporation pursuant to a merger or consolidation. The surviving or consolidated association may administer the covenants and restrictions established by this Declaration within The Properties together with the covenants and restrictions established upon any other properties as one scheme. No such merger or consolidation, however, shall affect any revocation, change or addition to the covenants established by this Declaration except as herein provided.

Section 3. Additional Property. So long as Developer shall be entitled to all of the voting rights of the Association pursuant to Article III of this Declaration, Developer shall have the exclusive right, at its option, to subject additional property owned by it to this Declaration.

ARTICLE III

MEMBERSHIP AND VOTING RIGHTS IN THE ASSOCIATION

Section 1.Membership. Every Owner shall be a Member of the Association, provided that

(a) Any person or entity who is merely holding any interest in a Lot as a security for the performance of an obligation shall not be a Member;

(b) The Developer shall in any event be a Member of the Association so long as it has any voting rights under Section 2 of this Article,

Section 2.Voting Rights. Until such time as the Developer has conveyed by record deeds 75% of the total Lots included in The Properties to others, the Developer shall have all of the voting rights of the Association; and the other Members and Owners shall not be entitled to notice of or to vote at any meeting of Members or to any other notice hereunder or to otherwise participate in any action taken under this Declaration. Upon Developer having so conveyed such Lots, every Lot shall be entitled to one vote which shall be cast by the Owner (including without limitation the Developer) thereof. In the event that the Owner of any Lot is comprised of more than one person or entity, such persons or entities shall determine as between themselves how the vote for such lot is to be voted but there shall never be any fractional voting with respect to any Lot nor more than one vote per Lot hereunder; and in the event said common or joint owners do not unanimously agree on how their vote shall be voted, the Association at its option may refuse to recognize such vote.

ARTICLE IV

PROPERTY RIGHTS IN THE COMMON PROPERTIES

Section 1. Member’s Easements. Subject to the provisions of Section 3, every Member shall have a nonexclusive right and easement of access and use in and to the Common Properties together with every other Member and such easement shall be appurtenant to and shall pass with the title to every Lot.

Section 2. Title to Common Properties. The Developer may retain the legal title to the Common Properties until such time as it has completed improvements thereon and until such time as, in the opinion of the Developer, the Association is able to maintain the same but, notwithstanding any provision herein, the Developer hereby covenants, for itself, its successors and assigns that it shall convey the Common Properties to the Association, free and clear of all liens and encumbrances, not later than December 31, 1990. The Developer may also, at its option and in its discretion, convey by deed other property to the Association which when so conveyed shall thereupon become a part of the Common Properties.

Section 3. Extent of Members’ Easements. The rights and easements created herein shall be subject to the following:

(a) The right of the Developer and/or of the Association to borrow money for the purpose of improving the Common Properties and in aid thereof to mortgage said properties.

(b) The rights of the Association after it becomes Fee owner of the Common Properties to take such steps as are reasonably necessary to protect the Common Properties against foreclosure.

(c) The right of the Association to suspend the easement rights of any Member for any period during which he is in default in making payment of any assessment, and for any infraction of its published rules and regulations.

(d) The right of the Association to charge reasonable admission and other fees for the use of the Common Properties.

(e) The right of the Association to dedicate or transfer, or grant easements in and upon, all or any part of the Common Properties owned by it to any public agency or authority or any utility (public or private) for such purposes and subject to such conditions as it may determine, provided that no such dedication, or grant, including the purposes and conditions thereof, shall be effective unless approved in the manner set forth in Section 12 or Article VII of this Declaration.

ARTICLE V

COVENANT FOR MAINTENANCE ASSESSMENTS

Section 1. Creation of the Lien and Personal Obligation of Assessments. Each lot owner (except the Developer) hereby covenants and agrees to pay to the Association: (1) annual assessments or charges and (2) special assessments for repairs and improvements, all such assessments or charges to be fixed, established, and collected from time to time as hereinafter provided. The annual and special assessments, together with such interest thereon and costs of collection thereof as is hereinafter provided, shall be a charge and continuing lien upon the Lot (except the Lots owned by the Developer) against which each such assessment is made. Each such assessment, together with such interest thereon and cost of collection thereof as is hereinafter provided, shall also be the personal obligation of the person (except the Developer) owning such lot at the date when the assessment becomes payable.

Section 2. Purpose of Assessments. The Assessments by the Association shall be used exclusively for the purpose of promoting the recreation, health, safety, and welfare of the lot owners use and enjoyment of the Common Properties and structures thereon, including, but not limited to, the payment of taxes and insurance thereon and the improvement, maintenance repair, replacement, and additions thereof and thereto.

Section 3. Basis and Maximum of Annual Assessments. Until January 1, 1975, the annual assessment shall be Thirty ($30) dollars per Lot. From and after January 1, 1975, the basis and amount of the annual assessment may be altered by a vote of the Members as provided for in Section 12 of Article VII hereof; provided that the limitations of this Section shall not apply to any change in the amount and basis of any assessments undertaken as an incident to a merger or consolidation in which the Association is authorized to participate under Article II, Section 2 hereof.

The Board of Directors of the Association may, after consideration of current maintenance costs and future needs of the Association, fix the actual assessment for any year at a lesser amount.

Section 4. Special Assessments for Capital Improvements. In addition to the annual assessments authorized by Section 3 hereof, the Association may levy in any assessment year a special assessment, applicable to that year only, for the purpose of defraying, in whole or in part, the cost of any construction or reconstruction, repair or replacement of a capital improvement upon the Common Properties, including the necessary fixtures and personal property related thereto, provided that any such assessment shall be approved by a vote of the members as provided for in Section 12 of Article VII hereof.

Section 5. Date of Commencement of Annual Assessments: Due Dates. The annual assessments provided for herein shall commence on the date fixed by the Board of Directors of the Association to be the date of commencement.

The first annual assessments shall be made for the balance of the then calendar year and shall become due and payable on the day fixed for commencement. The assessments for any year, after the first year, shall become due and payable on the first day of March of said year.

The amount of the annual assessment which may be levied for the balance remaining on the first year of assessment shall be an amount which bears the same relationship to the annual assessment as that year bears to twelve. The same reduction in the amount of the assessment shall apply to the first assessment levied against any property which is hereafter added to the properties now subject to assessment at a time other than the beginning of any assessment period.

The due date of any special assessment under Section 4 hereof shall be fixed in the resolution authorizing such assessment.

Section 6. Duties of the Board of Directors. The Board of Directors of the Association shall fix the date of commencement and the amount of the assessment against each Lot for each assessment period at least thirty (30) days in advance of such date or period and shall, at that time, prepare a roster of the properties and assessments applicable thereto which shall be kept in the office of the Association and shall be open to inspection by any Owner.

Written notice of the assessment shall thereupon be sent to every Owner subject thereto.

The Association shall upon demand at any time furnish to any Owner a certificate in writing signed by an officer of the Association, stating whether or not any unpaid assessments affect said Owner’s lot.

Section 7. Effect of Non-Payment of Assessment: The Personal Obligation of the Owner; the Lien; Remedies of Association. If the assessments are not paid on the date when due (being the dates specified in Section 5 hereof), then such assessment shall become delinquent and shall, together with such interest thereon become a continuing lien on the lot which shall run with the land. The personal obligation of the then Owner to pay such assessment shall not be affected by any conveyance or transfer of title to said Lot.

If the assessment remains unpaid thirty (30) days after its due date, the assessment shall bear interest from the due date at the maximum annual percentage rate permitted by law but not in excess of ten (10%) percent. The Association may bring an action at law against the Owner personally obligated to pay the same and/or to foreclose the lien against the property and there shall be added to the amount of such assessment the costs of collecting the same or foreclosing the lien thereof, including reasonable counsel fees.

Section 8. Exempt Property. The following property subject to this Declaration shall be exempted from the assessments, charge and lien created herein:

(a) All properties to the extent of any easement or other interest therein dedicated and accepted by the local public authority and devoted to public use.

(b) All Common Properties: and

(c) All properties exempted from taxation by the laws of the State of Florida, upon the terms and to the extent of such legal exemption as such exemption as such exemption may exist from time to time.

ARTICLE VI

ARCHITECTURAL CONTROL COMMITTEE

Section 1. Review by Committee. No building, fence, wall or other structure shall be constructed, installed, erected or maintained upon the Properties, nor shall any exterior addition to or change or alteration thereof be made until the plans and specifications showing the nature, kind, shape, height, materials, and location of the same shall have been submitted to and approved in writing as to harmony of structures and topography by the Board of Directors of the Association, or by an architectural committee composed of three (3) or more representatives appointed by the Board. In the event said Board, or its designated committee, fails to approve or disapprove such plans and specifications within thirty (30) days after said plans and specifications have been submitted to it the same shall be deemed to have been approved. Refusal of approval of the plans and specifications may be based on engineering, architectural or purely aesthetic grounds.

ARTICLE VII

GENERAL RESTRICTIONS AND COVENANTS

Section 1. Utilities Reservation. Developer shall have and does hereby reserve the right to locate, install, erect, construct, maintain and use or authorize the location, installation, erection, construction, maintenance and the use of drains, sanitary storm sewers water mains, electric and telephone lines and other utilities, and to give or grant a right-of-way or easement, not more than six (6) feet in width, therefor (a) over any part of the Common Properties, and (b) on any lot adjacent to any lot line.

Section 2. Ingress and Egress. Rights of ingress and egress to and upon the property for purposes of installing improvements are retained by the Developer.

Section 3. Central Sewerage System. At such time as a central sewage system has been installed and becomes available, each Owner shall be required to connect all structure: on his Lot to such system and shall not use any other system or sewage disposal.

Section 4. Minimum Living Area. No structure shall be constructed on any lot with a living area (exclusive of carports and open porches) of less than 750 square feet for single family residences; 500 square feet per unit for duplexes; 450 square feet per unit for multiple family residences; and 300 square feet for efficiency units.

Section 5. Tents and Trailers. No tents or house trailers may be occupied, parked or placed on The Properties at any time, except in such areas as may be designated by the Developer for

Section 6. Local Zoning. Property usage shall conform to the zoning restriction of Charlotte County, as well as the aforementioned restrictions. In the event of any conflict, such zoning regulations shall prevail.

Section 7. First Refusal. Should the Owner (except the Developer) of any Lot receive a bona fide offer to purchase such Lot and be desirous of accepting said offer, he shall first submit such offer in writing including the terms thereof and the name and address of the offeror, to Developer who shall be then given not less than two (2) business days after receipt thereof to agree to purchase the property itself on said terms. Should Developer choose not to exercise said right of first refusal, the Owner of such Lot shall be free to sell to said offeror, and no other, at the price offered or at a higher price. This restriction shall apply to all transfers within the period of these restrictions, and any subsequent grantee or devisee beyond the immediate grantee of Developer shall by his acceptance of the deed thereto bind himself to this restriction. Developer shall not be deemed to have waived its rights hereunder as to subsequent sales of any lot or lots by virtue of its failure to exercise its right of first refusal on any previous sale of said lot or lots.

Section 8. Pets. No animals other than commonly accepted domestic pets shall be kept on any Lot. No signs of any kind shall be displayed on any residential Lot unless the form and size of such signs be first approved in writing by the Developer.

Section 9. Nuisances. Nothing shall be done and no condition shall be allowed to continue which may be or become a nuisance or is in violation of any of these restrictions. All vacant Lots shall be kept free of accumulations of brush, trash, or other material. After 14 days notice to the owner, Developer shall have the right to enter upon his Lot for the purpose of curing such violation, and the cost thereof shall be charged to the Owner and shall until paid be a lien against his lot.

Section 10. Boats. No boats shall be anchored off shore in any lake or canal and when not in use shall be moved as closely adjacent to the bank as safety allows, to the end that navigation of the waterways will not be impeded. The use of any waterway or canal is at the risk of the owner and occupants of the vessel and the Developer shall not be liable for damages or injury resulting from submerged objects, collision, or otherwise.

Section 11. Filling or Dredging. No filling or dredging shall be done beyond any lot line without the express written approval of Developer nor shall any cutting of boat slips or other similar excavating within the lot line be done without said approval.

Section 12. Amendments. This Declaration may at any time be amended, altered or terminated in whole or in part and upon such terms and conditions as may be approved in the manner hereafter set forth, provided that

(a) Every such amendment, alteration or termination shall be submitted to a vote of the Members at a meeting thereof held upon not less than 30 days prior written notice of such meeting and the purpose thereof to each such Member; except that Developer may amend, alter or terminate nay part or all of this Declaration without notice until such time as it no longer has all of the voting rights of the Association (as defined in Article III, `Section 2).

(b) Such amendment, alteration or termination shall not be approved unless authorized by not less than two thirds of the total number of votes entitled to be cast at such meeting;

(c) Such amendment shall become effective when so approved upon the same being recorded in the Public Records;

(d) No such amendment or alteration shall change the basis or amount of the annual assessment prior to January 1, 1975, as set forth in Section 3 of Article V of this Declaration; and

This Section 12 is subject to the voting and other rights of Developer under Section 2 of Article III hereof, except only that Developer shall not have the right hereunder to change the basis or amount of the annual assessment prior to January 1, 1975, as set forth in Section 3 of Article V of this Declaration.

Section 13. Duration. This Declaration shall run with and bind The Properties, and shall. inure to the benefit of and be enforceable by and bind the Association and the Owners and the Developer and their respective legal representatives, heirs, successors. and assigns for a term of thirty years from the date this Declaration is recorded, after which time this Declaration shall be automatically extended for successive periods of ten years unless otherwise terminated or modified by a vote of the Members in accordance with the provisions of Section 12 of this Article.

Section 14. Any notice required to be sent to any Member or Owner under the provisions of this Declaration shall be deemed to have been properly sent when mailed, postpaid, to the last known address of the person who appears as Member or Owner on the records of the Association at the time of such mailing.

Section 15. Enforcement. Enforcement of these covenants and restrictions shall be by any proceeding at law or in equity against any person or persons violating or attempting to violate any covenant or restriction, either to restrain violation or to recover damages, and against the land to enforce any lien created by these covenants; and failure of the Association or any Owner or Developer to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter.

Section 16. Severability. Invalidation of anyone of these covenants or restrictions by judgment or court order shall in no wise affect any other provisions which shall remain in full force and effect.

Section 17. Liability of Developer. The Developer shall have no liability for any act or failure to act of the Association, the relationship between the Association and the Developer being conclusively deemed to be that of independent contractors and not that of principal and agent, partnership or joint venture. In addition, the Developer shall have no liability or obligation under this Declaration whether to the Association, Members Owners or otherwise except only for such liabilities or obligations, if any, as Developer expressly has assumed herein.