Post-II" Fax Note
To

7671

Phone#
Fax#

 	Date:		.zoov

To:	Honorable Chairman Joe A. Martinez

llfflQAL flU CXlf"r
CURI( OF THE BOARO
OF COUNTY COMMISSIONf:RI!

Memorandum i!IH

DAD£ COUNtv; R.Mt0a	•
1--... ''"  I

and Members, Board of ColU!fy Commissioners

From:

Subject:	Ordinance Creating the Fontainbleau Lakes Community Development Dislrict
(Commission District No. 10)	0#0 _
 	6 135	

RECOMMENDATION
It is recommended that the Board adopt the attached Ordinance creating the Fontainblesu Lakes Community Development District (CDD) in unincorporated Miami-Dade County, pUISUllllt to the authority granted by the Miami-Dade County Home Rule Charter for the purposes set forth in Chapter 190 of the Florida Statutes, subject to acceptance of the declaration of restrictive covenants running with the lands within the jurisdiction of the CDD.

BACKGROUND

Fontainbleau Lakes, L.L.C., owner of the Fontainbleau Lakes Development (Fountainbleau Lakes), has filed an application to create the Fontainbleau Lakes CDD in connection with said development. Fontainbleau Lakes is ·a proposed 272.12 acre residential . development lying wholly within
unincorporated Miami-Dade County, in the area bounded by theoretical NW 87 Place on the easi, theoretical NW 105 Avenue on the west, West Flagler Street on the south and State Road No. 836 right-of-way on the north. The CDD is designed to provide a financing mechanism for community infrastructure, services and facilities, along with certain ongoing operations and maintenance for the
.Fontainbleau Lakes Development. The development plan for the lands within the proposed CDD includes construction of a maximum 1,440 condominium and 450 courtyard/townhouse units with associated roadway, storm drainage and water and sewer facilities estimated to cost approximately $20 Million. Approval of this CDD does not constitute a development order. A detailed swnmary ofCDD elements, as well as their cost and anticipated lack of -fiscal jmpacts to government agencies, is presented in the attached application submitted by Fontainbleau Lakes, L.L.C. In accordance with Florida Statute 190, Fontainblesu Lakes, L.L.C. has p d a filing fee of$15,000 to the County. ·

TOO	(Jl!VOH  dO  lll!ITT	vsv. SlC SO& XVd co:11 Hni 9O/lT/OT

, , ,	Honorable Ctl'aihiuin-JbeA, "21
and Membefi;'BdiinfofCtiuhjfci,lnmissioners
Page2	.

A declaration of restrictive covenants has been submitted consistent· with the requirements of Resolution R-41 ·05 adopted by the Board on Aprils, 2005; and as amended by Resolution No. R- 883-06, adopted on July 18, 2006, to add language regarding the option to pay capital assessments in full at time of closing. The restrictive covenant provides for notice in the public records of the projected taxes and assessments to be levied by the CDD, individual prior notice to the initial purchaser of a residential lot or unit within the development and provisions for remedial options to. initial purchasers whose contract for sale did not ioclude timely notice of the existence and extent of CDD liens and special assessments.

This Board is authorized by the Florida Constitution and the Miami-Dade County .Home Rule. Charter to establish governmental units such as the CDD within Miami-Dade CoWlly and to prescribe such government's jurisdiction and powers.

The roads within this development are private and will be mainlaioed by the Homeowners Association ·or the CDD. A special taxing district will be created to mainlaio this development's
iofras1J;ucture aod open common areas should the.Homeowners Association or CDD be dissolved or
·w1to fulfill its maintenance obligations. The special trucing district will remain donnaot until such time as the Miami-Dade CoW1ty Board of County Commissioners.activates it.

FISCAL IMPACT
The creation of the Fontainbleau Lakes Community Development District will have no fiscal. impact

to Miami-Dade County.

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MEMORANDUM
 	(Revised)	

TO:	Honorable Chairman Joe A. Martinez	DATE:	September 26, 2006
and Members, Board of County Commissioners ·

-
FROM:	SUBJECT: Agenda Item No.	5(A)

Please note any Jt.ems checked.

 		"4-Day Rule" ("3-Day Rule" for committees) applicable if raised

 		6 weeks·requlred between first l'.eading and pnbllc hearing
 			4 weeks notification to mnnicipal officials required prior to public hearing
 		Decrea.ses revenues or Increases expenditures without balancing bndget

 		Budget reqnired

 		Statement of fiscal imlJact required

 		Bid waiver requiring County Manager's written recommendation

 		Ordinance creating a new b_oard requires detailed County Manager's report for public hearing	·

Housekeeping item (no policy decision required) No committee review

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Approved -----,,	"M..,a,iyor""
Veto		 Override	  	

ORDINANCE NO   	

Agenda Item No. 5(A)

09-26-06

0_6_-1_3_5_	-

ORDINANCE GRANTING PETITION OF FONTAINBLEAU LAKES, L.L.C., A FLORIDA CORPORATION ("FONTAINBLEAU LAKES" OR  "PETITIONER")  FOR  ESTABLISHM.. ENT  OF  A  COMMU.NITY DEVELOPMENT DISTRICT; CREATING AND ESTABLISHING
FONTAINBLEAU LAKES COMM:UNITY DEVELOPMENT DISTRICT ("DISTRICT''); PROVIDING FOR NAME, POWERS AND DUTIES; PROVIDING DESCRIPTION AND BOUNDARIES; PROVIDING INITIAL MEMBERS OF BOARD OF SUPERVISORS; PROVIDING SEVERABILITY, EXCLUSION FROM THE·CODE AND AN EFFECTIVE DATE

WHEREAS,-the Florida Legislature created and amended Chapter 190, Florida Statutes, to
.     ·,\
provide  an alternative  method  to finance and manage basic services for community development;	J
and

WQEREAS, Section l.Ol(A)(2I) of the Miami-Dade County  Home  Rule  Charter  grants the Miami-Dade County Board of County Commissioners the authority to exercise all powers and privileges granted to municipalities and counties by ihe laws of this State; and
WHEREAS, Article Vill, Section 6(1) of the Florida Constitution provides for exclusive

Collllty Charter authority to establish all governmental units within Miami-Dade County and to provide for their government and prescribe their jurisdiction and powers; and
WHEREAS, Fontainbleau Lakes, L.L.C., a Florida Corporation ("Fontainbleau Lakes" or "Petitioner'') 'has petitioned for the establishment of the Fontainb!eau Lakes Community Development District (the "District''); and

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-	Agenda Item No. S(A)
PageNo.2

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WHEREAS, a publ_ic hearing has been conducted by the Miami-Dade County Board of County Commissioners in accordance with the requirements and procedures of Section 190.00S(2)(b) Florida Statutes, and the applicable requirements and procednres of the Miami-Dade County Home Rule Charter and Code; and
WHEREAS, the District will constitute a timely, efficient,  effective,  responsive  and economic way to _\!eliver community development services in the area,_ thereby prpviding a solution to the County's planning, management and "financing needs for delivery of capital  inftastructure therein without oveli>urdening the County.and its taxpayers; and
WHEREAS, the Board of County Commissioners finds that the statements contained in the Petition are true and correct; and
- WHEREAS, the creation of the District ig;not inconsistent with any applicable element"or
portion of the State comprehensive plan or the Miami-Dade County-Comprehensive Development Master Plan; and
--
WHEREAS, the area of land within the District is of sufficient size, is sufficiently

compact, and is sufficiently contiguous to be developable as one functional interrelated community; and
WHEREAS, the creation of the District .is the best alternative available for delivering the community development services and fucilities to the area that will be served by the District; and
WHEREAS, the proposed services and facilities to be provided by the District will be compatible with the capacity and uses of existing local and regional community development services and facilities; and
WHEREAS, the area that will be served by the District is amenable to separate special district government; and

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1	Agenda Item No. 5(A)
PageNo.3
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WHEREAS,  the  ·owner  of  the  property  that  is  to  be  developed   and  sexved by the	· ) community development services and facilities to be provided by the District  has  submitted  an executed declaration of restrictive covenants pledging  among  other  things  to  provide  initial purchasers of individual residential lots or units with notice of liens and isessments applicable to
such parcels, with certain remedial rights vesting  in  the purchas=  of such  parcels if such notice is qot provi4ed in a till_l_ely and accurate llll!Jlller; and·
WHEREAS, having made the foregoing findings, after a public hearing; the Miami-Dade County Board of County Commission= wishes to exercise the power& bestowed upon it by Section I.0l(A)(21) of the Miami-Dade County Home Rule Charter in tile manner provided by Chapter 190, Florida Statutes; and

WHEREAS, the ,Miami-Dade County Board of County Commissioners fmds that the District shall have those general and special powers authorized by Sections 190.0ll and 190.012, Florida Statutes, and set forth herein, and that it ·is in the public interest of ali' of the citizens of

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,:?

Miami-Dade County that the District have such powers,

NOW,   THEREFORE,   BE   IT   ORDAINED BY  IBE	BOARD OF COUNTY
COMMISSIONERS OF MIAMI-DADE COUNTY, .FLORIDA:

Section!.	The ·foregoing findings, which are expressly set forth herein, are hereby adopted and made a part hereof.
Section 2. . The Petition to establish the Fontainbleau Lakes Community Development District over the real property described in Exhibit A attached hereto, which was filed by Fontainbleau Lakes, L.L.C., a Florida Corporation, on December·9, 2005, and which Petition is on file at the Office of the Clerk of the Board, is hereby granted. A copy of the Petition is attached and incOl]lorated herein (Exhibit B).

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Section 3.

Agenda Item No.' 5(A)
PageNo.4

The external boundaries of the District shall be as depicted on the location

map attached hereto and inc01porated herein as Exhibit C.

Section4

The initial members of the Board of Supervisors shall be.as follows: Masoud Shojaee

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David Flinn

Orestes Lopez-Recio Marta Cruz

Maria Donoso

Sectjon 5,	The name of the District shall be the "Fontainbleau Lakes Community

Development District."

Sectien 6.	The Fontainbleau Lakes Community Development District is created for the
purposes set forth in Chapter 190, Florida Statutes, pursuant to the .authority granted by Section l.0l(A}(2l} of the Miami-Dade County Home Rule Charter.

Section 7.

Pursuant to Section 190.00'5 (2) (d), Florida Statutes, the charter for the

Fontainbleau Lakes Community Development District shall be Sections 190.006 through 190.041, Florida Statutes.
Section 8.	The Miami-Dade County Board of County Commissioners hereby grants to

the Fontainbleau Lakes Community Development District all general powers authorized pursuant to Section 190.01 I, Florida Statutes, and hereby finds that it is in the public interest of all citizens of Miami-Dade County to grant such·general powers.
Section 9.  The  Miami-Dade County Board of County Commissioners  hereby grants to the Fontainbleau Lakes Community Development District the special powers authorized pursuant to Section 190.012 (!), Florida Statutes and Sections 190.012 (2)(a)(d) and (f), (except for powers

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Agenda Item No. S(A)
PageNo.5

regarding waste disposal), Florida Statutes and Section 190.012 (3), Florida Statutes,' and hereby finds that it is in the public interest of all citizens of Miami-Dade County to grant such special powers; provided that the District's exercise of power under Section 190.QI 2(1)(b) Florida Statutes, pertaining to water, waste water and reuse water services shall be pursuru°it.to that Decliira!Um of
Restrictive Covenants submitted to the Board of County Commissioners in connection with the petitiou.

·. ·../ ' .

Section 10.	All bonds issued by the Fontainbleau Lakes Community Development District pursuant to the powers granted by this ordinance shall be validated pursuant to Chapter 75,
,;·	Florida Statutes.

Sechon 11.	No bond, debt or other obligation of the Fontainbleau Lakes Community

,.

Development District, nor any default thereon, shall constitute a debt or obligation of Miami-Dade .. County, except upon the express approval and· agreement of the Miami-Dade Board of County Commissioners.
Section 12. Notwithstanding any power granted to the Fontainbleau Lakes Community Development District pursuant to this Ordinance, neither the District nor any real or personal property or revenue in the district shall, solely by reason of the District's creation and existence, be exempted from any requirement for the payment of any and all rates, fees, charges, permitting fees, impact fees, connection fees, or similar County rates, fees or charges, special taxing districts special assessments which are required by law, ordinance or County, rule or regulation to be imposed within or upon any local government within the County.

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Section 13,	Notwithstanding any power granted to the Fontainbleau Lakes Community Development District pursuant to this Ordinance, the District may exercise the power of eminent

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.,     I	0#06-135

Agenda Item No.  S(A)
PageNo.6

domain outside the District's existing boundaries only with the prior specific and express approval of the Board of County Commissioners of Miami-Dade County.
Seetion 14.	This Board hereby accepts that Declaration of Restrictive Covenants

proffered by the owners of the lands within the jurisdiction of the Fontainbleau Lakes Coinn:fonity Development District, in connection with the petition submitted by l'ontainbleau Lakes, L.L.C., and approved herein.
Section 1S,	If any section, subsection, sentence, clause or provision of this ordinance is

held invalid, the remainder of this ordinance shall not be affected by such in.,y_  alidity.
Section 16.	It is the intention of the Bomd of County Con:nnissfoners, and it is hereby ordained that the provisions of this ordinance shall be excluded from·the Code of Miami-Da_de
County.
Section 17.	This ordinance shall become effective ten (10) days after the date of enactment unless vetoed by the Mayor, and if vetoed, shall become·effective only upon an override
,,.._
by this Board.

PASSED AND ADOPTED: September 26, 2006

Approved by County Attorney as/	,/'(
to fonn and legal sufficiency:	-

Prepared by:

Gerald T. Heffernan

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EXHIBIT A
LEGAL DESCRIPTION
FONTAJNBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT

LEGAL DESCRIPTION>
lRACTS f". & G, BEING All 01'" ''FONTAINEBLEAU PARK WEST SECTION THREE"
A l!DING TO lHE PLAT lHEREOF AS R!aCOROED IN Pl.AT BOOK !OJ, AT PAGE
98 OF 11-tE l'UBUC RECORDS Or. MIAMI-OAOEc COUNTY. FI.ORIOA.
SAID LANDS SllUAT!':. LYING Al'{O BEJNO IN MIAMI-OADE COUNTY, FLORIDA.

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EXHIBIT  B

PETmONFOR ORDINANCE FOR

FONTAINBLEAU LAKES·
Community Development District

DECEMBER 9, 2005

Prepared by
Special District SBTVices, Inc•
. 11000 Prosperity farms Road, Suite 104
Palm Beach Gardens, Florida 33410

561-630-4922 - Tele
877-737-4922-Toll Free
561-630-4923 -Fax

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IN RE:       AN ORDINANCE TO ESTABLISH.	) THE FONTAINBLEAU LAKES	) COMMUNITY DEVELOPMENT DISTRICT )
PETITION

Petitioner, Fontainblean Lakes, LLC ("Petitioner"), hereby petitions the Miam\­ tlade County Commis on  to establish a Community Development"District (''Disti'ibrry·. with respect to the land described herein and in snpport of the Petition, Petitioner states:

The proposed District is located within the uninco,porated area ofMiami­ Dade County in District 1O. Exhibit I depicts the general location of the project. The proposed District covers approximately 272.12 acres of land. The legal description of the external boundaries of the District is set forth in Exhibit 2. The real property within the extern.al boundaries of the proposed District, which is to be excluded from the District, is set forth in Exhibit 9.

Attached to this Petition as Exhibit 3 and IlJ!lde a partfhereof is the written consent to the establishment of the District by the owner of 100% of the real property to be included in the District.

The five persons d ignated .to serve as initial members of the Board of Supervisors of the proposed District are as follows:

Masoud Shojee
David Flio·n
Orestes Lopez.,Rwio
MartaCruz
Maria Donoso

7111 Lago Drive East, Cora!Gables FL 33143
17.17 Baysbore Drive, #1231, Millilli, FL 33132
5895 S.W. 32"' Street, Miami, FL 33155
13615 S.W. 19 Stree Miami, FL 33186
15200 SW 51 Stre Miami, FL 33027

The proposed name of the District to be established is Fontaiobleau Lakes Community Development District ("FBLCDD").

There are no existing major trunk water mains, sewer interceptors or outfalls currently existing on the site.

The proposed timetable for the construction of District services is shown on Exhibit 4A and the estimated cost of constructing the services, based on available data, is shown on Exhibit 4B. These are good faith estimates but are not binding on the Petitioner or the District and are subject to change

Petitioner is in the process of developing the project as a residential community. The proposed uses for the land within the-District are 1440 midrlse condominium apartments, 238 Courtyard units and 212
townhouses units.
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9.  ·,:·
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10.

11.

The proposed uses for the land it1clµded within the proposed District are in compliance with )Miami-Dade C9unty Future Land Use Element. The County Master·Plan and Future Land Use Element designate the land contained within the proposed District for low to medium density residential. The future general distribution, location and extent of pubiic and private uses of land proposed for the area within the District are shown on Exhibit 5.

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Exhibit 6 is a Statement of Estimated Regulatory Costs prepared m
accordance with the-requirements of Section 120.541, Florida Statutes.

Exhibit 7 is the proposed boundaries of the Community Development District.	.

Exhibit- 8 consists of the resumes of the proposed Supervisors.

Petitioner hereby requests that the proposed district be granted the right to exercise all. powers provided for in Sections 190.0120), 2(a) and 2(d), Florida Statutes, as amended.

The Petitioner is Fontainbleau Lakes, LLC, whose address is 5835 Blue Lagoon Drive, 4lh Floor, Miami, Florida 33126.

The property within the proposed District is amenable to operating as an independent special district for the following reasons:	·

Establishment of the District·and all land l\Ses and services planned within the proposed District are not inconsisJ: t with applicable elements or portions of the effective Miami-Dade Count Comprehensive Development Master Plan, as amended.

The area of land within the proposed District is part of a  unified plan of development for which a development plan has been approved by Miami­ Dade County. The land encompassing the proposed District is  of  sufficient  size and is sufficiently compact and contiguous to be developed as one fU1t£tional interrelated community.

. The community development facilities ·the.. District proposes to finance will be compatible with the capacity and use of existing local and regional community development services andfacilities.

The proposed District will be the best alternative available for delivering community infrastructute to the area to be served because the District provides a governmental entity for delivering tile infrastructure in a manner tlJat does not financially impact persons residing outside the District.	·

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WHEREFORE, Petitioner respectfully requests the Miami-Dade County Commission
to:	.	,,

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Hold a public herufag as required by Section 190.005(2 (b),  Florida  Statutes to consider the establishment of the Fontainbleau Lakes Community Development District and;
Adopt an ordinance pursuant to Chapter 190, Florida Statutes, granting

///
AU LAKES, LLC

SOOD SHOJAEE, President
lue Lagoon Drive, 4th Floor
, Fl 33126

this Petition and establishing the Fontainbleau Lakes Community Development District. Respectfully submitted this 30 th dayof	NoV	2005.

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EXHIBIT3
AFFIDAVIT OF OWNERSHIP AND CONSENT
TO THE CREATJON OF THE
FONTAINBLEAULAKES COMMUNI'rY DEVELOPMENT DISTRICT

STATE OFFLORIDA	)
COUNTY OF MIAMI-DADE	)
On this30th day of Noll-ember 2005. personally a eared before ine, an officer duly authorized to administer oaths and take acknowledgments, Masoud Shoiaee, who, afrer being duly sworn, tleposes and says:

Affiant l'dasoud Shojaee, an indlviduaJ, is the President of Fontainbleau
Lakes, LLC;	--

F tainbleau Lakes, LLC is the owner of the following des'7,1'bed property, to
Wlt:

See Exhibit "A" attached hereto (the "Propen}'")

Affiant, Masoud Shglaee, hereby represents that he has full authority to execute all documents and instruments on behalf of the Lhnited Liability Company, including the Petition before the Board of  County Commissioners of Miami-Dade County, Florida, to enact an ordinance to establish the
Fontalnbleay J.akp Community Deyefopment District (the "Proposed
CDD").	.

The property represents aU of the real property to be included in the Proposed
CDD.	.

Afllant, Masoud Shojaee on behalf of Fontainb owner of tire property in the capacity described ab establishment of the proposed CDD.

FURTIJER, AFFIANT SAYBTH NOT.

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appeared-before me, and is personally Imo
Notary:"'44-. Wlr.l!t.-<--:---
Print Name:	te-
Notary Public, State of Florida

so:n

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lgHIBITA
LEGAL DESCRIPTION
FONTAINBLEAU LAKES CO.MMUNITY DEVli:LOPl\l.lENT DISTRICT

LEOAL OESCRIPT!ON:
lRACi! 1. 2, J. ' AND 7, •F_0NTAIN8LEAIJ PARK SUBOl\riSION SECTION ONi". ACCORDltfG TO tHE
PLAT lliEREOF AS RECOAQtQ lh PlA1 BOOK 80, AT PAQE' S6, OF JliE PUbl.1C RECORDS OF' OAOE
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A PORTION OF 1HE-NORlHW£ST 1/-t OF SEC1lON 4,. TO'hMSHIP 54 soum. RAMCI!: -4o !AST.
IJIMHlADt COUNTY, FI.ORIIIA, 86NO MORE PARllCUURI.Y Oesa118EO AS f0ll0\I/S:

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COMMENCE AT 1Mi N.ORlH ST CORNER OF' SAil> SECTION -4-. rDMNSHIP· !14 SOlJ'n.t. RiU-lGE 40 EAST•

!TeliENCE RUN NOR'lll 1!9"5&'50" EAST, Al.ONG 11-lE NORTII LINE Of SAil SECntw	BEING !HE

UOFNE  OFD	,\»fl10)  EF	. "-.   IS1'.ED'-"   ON!;.0_  5.     fl !i1, ft!HE .	SE    OF
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1.A$TOtsCRIBl;t) COtJffl FOR  A  DISTANCE Of'  lS.5$  F(£f  to A.  PONT  (W  JNllAtto'DON·'MlN  1H! """1' IJN'E: CF lll4CT "F" 11LUE FONTAINE TRACl". ACCQRDJNO To 'l!fE Pl.AT THIIIEOF AS IIECCAOED · rN PJ.AT SGOK 140, AT PAGE: 74. OF THE'. UBUC RECORDS OF ON>E COUNTY,· Ft.ORJDA: fftEt,.lCE RlJN SOVTI-f 08'57 20.. 'Ml.ST. ALQNC. nit	UN!' OF TRACT '"f"" FOR A OISTANC£ OF' 7.93 s:uT TO A POlffT1 THENCE: RUN SOUTH Oro&-,0" tAST, ALONG $AID  wtsT UME OF 'JRA¢'f  •r FOR'A blSfANC£ OF 59.87 1'£ET TO TIIE SWTll11EST CORNER 0 SAIi) lRACT "I"' (SA!O POINT Al.SO 81!1N<> A PONT CF IIHERSlCllON 1MlH TIit NOR1" Rlll!IT-OF'-WAY UNE OF FONTAINO\EA<> BOIJLtv.lRO AS SHOv.N ON PlAT OF "FONTAINEBLEAU 80Ul.EVARO PAAK AND PARK 80ut.EVARO", ACCOR-'.TO lHE Pt.AT 1HEl1W AS Rl!COR!lED. IN Pl.AT 80()1( 00. AT PAIi£ :18, OF 1HE PIJSUC Al!COIIIJS	OJIM COUIITY; FL.ORIOA: lli!NC!: RUN SOUlH a9•q'20" WEST. ALONG LAST DESaUED COURSl!'.-FOR A DIS'tANCE DF
35.02. F'E£f To A l1'QrNT (Ir INltRSECTION vam 1HE EAST ,UGHT-OF-WAY LINE FOR CANAL AS $HO¥,N ON Pl.AT OF "BLUE FONTAINi l'l'«PU'IT". ACCORDING TO 'niE PLAT n:tER AS IQECORDED JN PU.f
SOOK 1'10, AY PA<ll: 2. 'CF '1IIE PU8UC RECOROS OF DAlll COIJNlY. Fl.OIIIOA< 111£HC[ .RUN NORllf 02
"DB'SO• W!S'r, At.ONG 1Hli: EAST RICHT-t>r-WAY'UNE OF SAID CANN,. FOR A Di9TANC! OF  SB.$9 TO A POIN'f OF WTEAS£C:110N Wilk 1Hi NORTf-1,UNE OF' SAID S£C'IION· ♦ (SAID POINT Al50 GEING TH£ PfJl!ff OF BEOfNN1NG). !AfD PAACEL OF I.AND LYING ANI) EENG SITUA.tto fN ltl-AMf-OADE COIJNTY, Fl. OA.
TOGE1I-ISl< \Otl>i:

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A PORTION OF 00\-VfNMENT LOT 4 8f:iWEEt,I TOWN.SHJP SJ AND S4 SOUDf, RANG€ 40 eAS'r. AS f'OLL.0'1& COMMENCINQ At  ffl! $0UTHEAST COAN:m OF GQVSRNMENT U>T	1'HDICE. SQO'ffl i,9• 53•3e• W£S'T 1490.13 FUT JO lHE POINT OF 8E41NNING; lHENCE NORTH  ttt'Sl"@"  £/1$1 1035.40 FE!n THENCE l'f()ltTH 8TOO'OO"' Y<E9T 180..0:S FUT;: THEN¢! SOUTH		\\£ST 4043',BB F'EET; THENCE !Clint 89-"S&",aQ'" ST	160.0!li FEET to THE .POINT OF' BEGINNtNG.			..

LEGAL DESCRIPTION:
TFlACTS F &; G, BEING AI.L OF "FONTAIN Bl.£AU PAR)( \lf:S,: SECTION THREE"
ACCORDING TO TI-IE: PLAT THEREOF AS RECORDED IN PLAT BOOK 103, AT PAG£
98 Of TliE PUBLIC RECORDS O'F MIAMI-DADE COUNTY, FLORIDA.
SAID LANDS SllVATE. LYING ANO BEING IN MIAMI-DADE COUNTY, FLORIDA.

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JOINDERAND CONSENT OF MORTGAGEE

Bank of Americ!I, N.A., a national banking association, being the mortgagee tinder·that certain mortgage from Fo11tainbleau Lakes, LLC, a Florida limited liability company recorded in Official Records Book 23887, .at Page 4607 ·of the Public Records of Miami-Dade· County, Florida, covering all or a portion of the property described. in th'e foregoing Declaration of Restrictive Covenants, encumbering all or ,Portions of the real prqperty described 1Ii the foregoing Dec!ljl'atic>n of Restrictive Covena!)ts for Fontainbleau Lakes Community Development District, hereby consents to and ack,nowledges that the terms of the Declaration of Restrictive Covenants for Fontainbleau Lakes Community Development District are and shall be binding upori the undersigned and its successors in title.

Signed, sealed and delivered in the
presence  f:

BANK OF AMERICA,.N.A.,·a national banking association ·	·

STATE OF FLORIDA	)
) ss: COUNTY OF MIAMI-DADE	)
The foregoing instrument was acknowledged before me fuis'2.."f1" day of Juiy, 2006, by John C. Nicholl;, Vice President of Bank of America, N.A, a national banking association, on behalf of the corporation. !le/she is personally known to n:ie or has produced

----------(typeofidentifiCBtion) as identification.

YPUBLIC, STA
 	;Ju/Ie	L;m/1-	
(Print, Type or Stamp Commissioned Name ofNotary Public)

{M23598l9;4}	17
LTO!m	Cll!VO!! 110 llll!l'IO	t8to SlC SOC XVII 60'11 !ll1L 90/l1/01

EXHIBIT4B
CONSTRUCTION COSTS ESTIMATES FONTAINBLEAULAKESCOMMUNITY DEVELOPMENT DISTRICT

WATER AND SEWER	..	$  -4,000,000	
		
STORMWATER MANAGEMENT	$	10,000.000	
			
ROADWAYS	$	6.000000	
..		
TOTAL·ESTIMA TED PROJECT COSTS	$ 20,000,000	

(0

810	Ol!VOH ,IO lll!H10

FONTAINBLEAU LAKES
COMMUNITY DEVELOPNIENT DISTRICT
·-

Statement of Estimated Regulatory Costs

'·.

DECEMBER 9, 2005

Prepared by

Special District Services, Inc.
11000 Prosperity Farms Road, Suite 104 Palm Beach Gardens, Florida 33410

(561) 630-4922-Tele
(877) 737-4922-Toll Free
(561) 630-4923-Fax

EXHIBIT6

610Jm

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Ul!VOH dO l!HH'W

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'

	STATEMENT OF ESTIMATED REGULATORY COSTS	.l,	
1.0	Introduction		
1.1	Purpose and Scope		
	This • Statement of Estimated Regulatory Costs ("SERC")  Sllflports  the  petititiJi  to establish the Fontainbleau Lakes Community Development District ("District"). The		

District comprises approximately 272.12 acres of land located.in the unincorporated area of  Miami-Dade Florida.   The  limitations  on the  scope of this SERC are explicitly set  oi.>t in Section 190.002(2) (d), F.S. (governing District establishment) as follows:

"That the process of establishing such a district pursuant to. uniform general law shall be fair and based only on factors material to managing and financing the service delivery function of the disfrict,:•so that any matter concerning pennitting or planning of the development is not material or relevant {emphasis added)."	·

Overview of Fontainbleau Lakes Community Development District

The Disttict is designed to provide district infrastructure, services, and facilities along
with their  operations  and  maintenance  to  a  master  planned  residential  development containing 1890 units within the boundaries of the Disttict	·,
j

Requirements for Statement of Estimated Regulatory Costs·

Section 120.541(2), F.S, (I 997), defines the elements a statement of estimated r<)gulatory costs must contain:

A good faith estimate of the number of individuals and entities likely to be required to comply with the rule, together with a general description of the types of individuals lik!'IY to be affected by the rule.

A good faith estimate of the cost to the agency, and to any other state and local government entities, of implementing and enforcing the . proposed rule, and any anticipated effect on state and local revenues.

A good faith estimate of the transactional costs likely to he incurred by individuals and entities, including focal governmental entities, required to .comply with the requirements of the ordinance. As used in this paragraph, "transactional costs" are direct costs that are readily ascertainable based upon standard business practices, and include
filing fees, the cost of obtaining a license, the cost of equipment required to be installed
or used or procedures required to be employed in complying with the rule, additional operating costs incurred, and the cost of monitoring and reporting.

. l -

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An analysis of the impact on small businesses as defined by Section 288.703, F.S., and an analysis of the impact on small ootinties and small cities as defined by Section 120.52, F.S. Miami-Dade County is not defined as a small .County for purposes of th.is requirement

-

Any additional information that the agency determines _may beuseful.
.	.	.	.,
In the statement or revised statement, whichever applies, a description of any good faith written proposal submitted under pll{agraph (1) (a) and either a statement adopting the alternative or a statement of the reasons for rejecting the alternative in favor of the proposed ordinance.
"Note: the references to "mlc" in the lllatll10:ty requirements for 1hc StalcmcDI of Eslinmtcd RoguilllO:ty
Costs also apply to an "ordinance" undersection 190,005(2) (a), Florida Statutes."
2.0 A good faith estimate of the nnmber or indlvidnals and entities likely to be required to comply with the ordinance, together with a general description of the types of individuals likely to be affected by the ordinance.

The Fontainbleau Lakes Community Development District serves land that comprises a
272.12 acre residential development to be made up of an estimated 1890	residential units. The estimated population of the residential portion of the District is 2835 +/-. The property owners in the District will be individuals, families and companies that may own and operate retail and non-retail related businesses within and outside the boundaries of the District.	·

A good faith estimate of the cost to the agency, and to any other state and local government entities, of implementing and· enforcing the proposed rule, and any anticipated _effect·on state or local revenues.

There is no state agency promulgating any rule relating to this project that is anticipated
to affect state or local revenues.
Costs to Governmental Agencies of Implementing and Enforcing Ordinance

Because the results of adopting the ordinance is establishment of a local special purpose government, there will be no enforcing responsibilities of any other government entity, but there will be various implementing responsib!lities which are identified with their costs herein.

State Governmental Entities

There will be only modest costs to various State governmental entities to implement and enforce the proposed establishment of the District The Dis1rict as established on_ ihe proposed land, will encompass under 1,000 acres, therefore, Mianii-Dade County is the establishing entity under 190.005(2), F.S. The modest costs to variolis State entities to implement and enforce the proposed ordinance relate strictly to the receipt and processing

.2.

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Ol!VOII  ,IO  lll!ITT:J	t9to SL£ 90£ XVd 11:11 Hn	90/lT/OT

of arious reports tbiti:the District is required tofile with the State and its various·entities_	'
Appendix A lists th ·-reporting requirements. The costs to those State agencies that will receive and processcthe Distnci's reports are very small, because the District is only one of many governmental units that are required to submit the various reports. Therefore, the marginal cost of processing one additional set of reports· is inconsequential. Additionally, pursuant to section 189.412, F.S., the District must pay an annual fee to the State of Florida Department of Community Affairs which offsets-8Uch costs.

Miami-Dade County '.
There will be only modest costs to the County for a number of reasons.  First, review of the petition to esctablish the District does not include analysis of the  project  itself: Second, the petition itself provides much of the information needed for a-staff review. Third, the County @ady possesses the staff needed to conduct the review witho:.rt the need for new staff.. Fourth, there is no capital  required  to review the petition.  Finally. the County routinely_ proces.B similar petitions though for entirely different subjects, for land uses and·zoningiha_nges_ that are far more complex than is th,:,peti:tion to establish a community development district.	-	·
The annual costs to Miami-Dade County, because of the establishment of the District, are also very small. The District is an independent unit of local gqvernment.  The_ only ann)l_!II costs_ the Co!-'llty faces are the minimal costs of receiving and reviewing the
various reports that the District is required to provide to the County, or any monitoring expenses the County may incur if it establishes a monitoring program for this-District. However, the Petitioner has included a payment of $15,000 to offset any expenses the County may incur in the processing of this Petition, or in the monitoring of this District.

lmJlllct on Sta!11 and l,ocal Revenues	.,
Adoption of the proposed ordinance will have no negative impact on state or local revenues. The District is an independent unit of local government. It is designed to provide infrastructure facilities and services to serve the development project and it  has its own sources of revenue. No state or local subsidies are required or expected.

In this regard it is important to note that any deht obligations incurred by the District to construct its infrastructure, or for any other reason, are not debts of the State of Florida or any other of local government. In accordance with State law, debts of the District are strictly its own responsfbility.

A good faith estimate of the transactional-costs likely to be incurred by individuals and entities required to comply with the requirements of the ordinance.

Table 1 provides an outline of the various facilities and services the proposed District  may provide.

-3-

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mIVOH  i!O  lll!H'W	t8t SL£ sag XVif 11:11 ani 90/LT/OT

Table 1
FONTAINBLEAU LA.K, .  ES COMMUNITY DEVELOPMENT DISTRICT  .

.FACILITY	FUNDED
BY	O&MBY	OWNERSHIP· BY	
Water and Sewer System	cnn	WASA	WASA	
Stonnwater Manru>ement	COD	CDD	CDD	
Roadwavs	COD	. Countv	Countv	
Lift Station and. Force Main	-	COD	COD	COD	-	

Proposed Facilities aud Services

.

The petitioner has estimated the costs for providing the capital facilities outlined in Table
1. The cost estimates are shown in Table 2 below. Total costs for those facilities, which may be provided, are estimated to be approximately $20 000,000.··'.rhe District may issue special assessment bonds to fund the costs of these facilities. ·,.These bonds wouid be repaid through non ad valorem special assessments levied on all _properties in the District that may benefit from the Disttict's infrastructure program as ontlined in Table 2.

Prospective future landowners in the District may be required to pay non-ad valorem assessments levied by the District to secure the debt incurred through bond issuance, In addition to the levy of non ad valorem special assessments for debt service, the District

..

_may also impose a non-ad valorem assessment to fund the operations and maintenance of the District and its facilities and services.

Furthepnore, locating in 'ihe District by new property owners is  completely  voluntary' So, ,ultimately, all owners and users of the affected property choose to accept the non ad valorem special assessments by various names and user fees as·a tradeoffforthe benefits and facilities that the District provides.

A Community Development District ("CDD") provides property owners with the option of having higher levels of facilities and services financed through ·self-imposed assessments. .The District is an alternative means to manage necessary development setvices with relilted financing powers. District management is no more expensive, and often less expensive, than the alternatives of a municipal service taxing unit (MSTU), a property association, Courity provision, or through developer equity and/or bank loans.

In considering these costs it shall be noted that owners of the lands to be-inciuded within the District will receive three major classes of benefits.
First, landowners in the District will receive a higher long-terni sustained level of public services and amenities sooner than would otherwise be the case.

Second, a CDD is a mechanism for assuring lhat the community services and amenities will be completed concurrently with development of lands within the Disttict.· This

.4.

Ol!VOH 110 lll!ITTJ	t8tZ 9L£ 90£ XVtl zr:11 HOili 90/LT/OT

satisfies the revised growth management legislation, and it assures that growth pays for itself without tmdile burden on other consumers. Establishment of the District will ensure
that these landowners pay for. the provision of facilities, services and improvements to these lands.

Third, a CDD is the sole form of governance which allows District landowners, through landowner voting, to detennine the 'type, quality and expense Qf District services they receive, provided they meet the County's overall requirements.

The cost impact on the ultimate landowners in the District is not the total cost for the District. to provide infrastructure services and facilities. Instead, it is  the  incremental costs above what the landowners would have paid to. install infrastructure via an alte!llative management mechanism. Given the low cost of capital for a CDD, the cost impact to landowners is negligible.· This incremental cost of the . high quality inftastructure provided by the District is likely to be fairly low.·

..;,-_

Table2

FONTAINBLEAU LAKESCOMMiJNOY DEVELOPMENT DISTRICT
Cost Estimate for District Facilities

Category
.	
Cost Estimates	
Water& Sewer	$ 4.000.000	
Stormwater Manai,ement	$10,000,000
,.	..,	
Roadwavs	$ 6 000.000		
			
TOTALS	$ 20.000.000	

Table 3.

FONTAINBLEAU LAKESCOMMDNITY DEVELOPMENT DISTRICT

Estimated Construction Timetable For District Facilities

Cateeorv	-	Completion Date	
Water & Sewer	Januarv 2008	
Stonnwater Mana1>ement	Januarv 2008	
Roadwavs	Januarv 2008	

Ail analysis of the impact on· small businesses as defined by Section 288.703, F.S., and an analysis of the impact on small counties and small cities as defined  by Section 120,52, F.S.

- s -

mIVOH dO lRIITTO	t8t Sl so  XVd	1:11 lli1L 90/ll/Ol

There will be no impact_on small businesses because of the ebiablislnnent of the District. The Miami-Dade County has an estimated population in 2005 that is greater than 10,000; therefore the County is not defined as a "small" County according to Section 120.52, F.S; and there will accordingly be no impact on a small County because of the formation of the District.

6.0	Ani additional usefnl information.

The analysis provided above is based on a straightforward application of economic theary, especially as it relates to tracking the incidence of regulatory costs and 'benefits. Iµputs were received from the Petitioner's Engineer and other professionals associated with the Petitioner.

****************

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::
,	· ·.APPENDIX A
IJST OFREPORTING REQUIREMENTS

REPORT	FL.STATUTE
CITATION

DUEDATE

Annual Financial Audit

within 45 days of audit completion, but no later than 12 months after end of fiscal year

Annual Fimincial Report	218.32	· within 45 _days of financial audit completion,
. but no "later than 12 months after end of fiscal	

TRTM Compliance Report	year; if no audit required, by 4/30

200.068		no later than 30 days following the adoption of the property tax lev,y ordinanceh-esolution	

Fo11n I: Sta ment of Financial	(iflevying property )
112.3145	within 30 days of ac('epting interest the	
		appointment, then every year thereafter by 7/1 (by "local officers" appointed to special district's board); during the qualifying period, then every year thereafter by 7/1 (by "local officers" elected to special district's board)	
Public Facilities Report	189.415	within one year of special .district's creation; then annual notice of any changes; and updated report every 5 years, 12 mon prior to submission of local governme11t' s evaluation and appraisal report	
Public Meetings Schedule	189.417	quarterly, semiannually, or annually	
Bond Report	218.38	when issued	
Registered Agent	189.416	within 30 days after first meeting of governing board	
Proposed Budget	189.418	prior to end of current fiscal year	
Pubiic Depositor Report	280.17	annually by 11/30	

9ZOli!)	Cll!VOH ,IO lll!!!1:>	rsrz SL8 gog XVd g1:11 !!fl 90/Ll/Ol

DISTRICT BOUNDARIES---

WEST FLAGLER ST

S.R. #836 RIW

;:

z

w
i=

ci

THEO. NW 4 ST

FOUNTAINBLEAU LAKES
COMMUNITY DEVELOPMENT DISTRICT

N

SECTIONS: 4-54-40 & 5-54-40
& GOVT. LOT 4 BETWEEN
T:53, R:40 & T:54, R:40

J1
EXHIBIT 'C"

,COMM. 010.)

LZO	Ul!VOH dO lll!ITTO	t8tZ SL£ SO£ XVd £T!TT HOL 90/LT/OT

RESUME
Jl.rasoudS. hojaee
515 Casuarina Concourse
Coral Gables, Florida 33143

Professional:

President & Director, Shoma Developm t Corp, Miami, Florida, I 986 to
Pc:esent,	·,	·	·
Licensed General Contractor
Licen.s-e'd Real Estate Broker
Chaim:ian, Board of Supervisors/Cutler Cay Conmmnity Development District, Keys Cove and Keys Cove II Community Development Districts, Century Gardens Community Development District.
Manager of various LLC's.
_aducation:
University of Miami, BSEE, I983, MSEE; 1985

Personal:

Born, Tehetan, Iran, naturalized US Citizen
Married, twp children

-':•

 	
Ol!VOI.I 1!0 lll!H1:J	t8tZ SlC SOC XVd t1:11 Hili 90/lT/OT

.	RESUME
David L. Flinn
1717 N. BayshoreDrive #1231 Miami, Florida 33132	-
PROFESSIONAL:
CbiefFinancu·tl Officer and Director, Aljoma Lumber, Inc., Medley, Florida,.

-

1.976 fo present;. Director and Secretary, Gand Lakes Development Corp.
....·_	·.:	.	.

-

Financial Consultant to various foreign corporations, 1976 to present.
'	'

EDUCATION

BA, Georgia State University, Atlanta, Ga.
The Westminster Schools, Atlanta, Ga..

PERSONAL

Divotced, tw0 daughters.

6oOIE]	<Il!VOH dO Jrn111	t8to SLC soc XVd t1:11 11ni 90/LT/OT

OrestesLopez... ecio

1700 $,W. 57 Ave. Suite 212, (30tJ) 360-2836, Fax
Mfami. Florfda 33155   ·	{786)437-86!55.
OCopez®.,liom$hom_..,s ,com

-

                  Present - 2004
Architect

Shoma Development	Miami, F!

.Responsible for Architecluml-Conslructton coordination.
All resldanlial and multi-use d5V61opments In Miami-Dade,··Broward· and
Palm Beach Counttes.	• ·
, ,

2000-2003
Prolect An:flltect

Pasoual, i"erez, Kfffddjlan	Miami, Fl

· Responslble f<lr Supervfslon al1d Coordination of Construction Documents
toran proJects retaUrig to Cen Jty Home Builders
Responsible for res!dential projec!s suoh as Century Pare, Ken_dall
Breeze, Cent\Jiy Estates and Century at Doral. Approximately 2,600 Units	"•i
./

1995-1999
Prfnclp,,I

Orestes Lopez-Recio Architect ·	Mlam'i, Fl

owner of 0asi91>-Bulkl Rim. wllh experience ·in·both Residential and Commercial ProJec!s, includlng CUstom homes and Flex Ofllce Space.

1985-1994	SRP Inc.	Miami.Fl
PrinGipal/Quallller
[¾slgr>-8uRd-Fwrn·spec:ializlng in Commercial Design and Construction ..
Rerell CorJSUltan!s fot Phillps International of	York.
	Gross Conslrllc!iOn Cost for Projeols In tllis period approximately
$120,000,000.00

1982-1984.
. l"rojecf Architect

Cano, SotolOl'l{lO Architects	Miami, Fl.

Responsible for Supervision and Coordination of Cor'ISlruction Documents for various R!>Sidential Davelopmen!s In Miami-Dade and Broward Couooos·

OllVOH ilO llH31J	t8t SL so XVil t1:11 3nL 90/LT/OT

·,..;
1979•1881	.,..,. GRV Design Group
ProJactMansaer

Miami, Fl

. 'i•.

. Responsible for Supervision and Coordlnaffon of Construction Oocumen!s for various Residentlal Developments in Miami-Dade and Browaro Counties as well as Resider.liar ProjecL<r In HIiton Head S.C., Atianla, Georgia, am! Orlando, Florida.

-

1976-1978	·':Jorge F. Miro An;hilect	Miaml Fl
Designer
· Responslbl 'f<lr Design of Residential andCommerclal Projects.
.··..,(·

l!dllcatlon

Ucenses

1974-1979	University of Miami
BA, Archlteclure with Minor In Structural Englnee;lng':'"
Graduated Cum Laud;;_--	·	·	•

Registered Architect, State or Florida 1982
Certlfied General Conlraclor Slate of Florida 1985

Miamf,'FI

·"'	,,

31

Cll!V08 dO llllai:'i"	fSf 9LC  soc   XVd 91:n llil.L	90/l'flot··---

\ •<"i.
'l   ..:.

-

::::;!.'if,

Marhl A. Cnra
13615 S. W. 11!1"' Stroot
Miami, Florida 33186
TeL (786)'303-4511
E•msil: mortacruz04@bellsoufll,net

-·:-.,_

Summary of Oualificatlgns

I have been able to integrate my background in architecture, building ontractor and-business administra ion to achieve a successful career in the construction industry.
Experience
Shoma Development Corp. -Atl!IUSI 1989 -Present	. ·	.
VP Construction 'ilffitnlng Division; Ill charge ofpurehasing; contraci5 with vendors/SUbcontractOrs. R.eS)'Onsible for the coordination with Atcbitects and Engineers on design, development and construction drawings/documents of all m,w projecls'.-Also in charge of the coordhiation witii Attornoys a'nd·surveyors• of all condo documents, HOA documents, condo conversioqs, Fanni  • approvals and LOMR letrers.	·	,,		·	•· Office Manager: TJiC·gencraJ management and &upervision of main office		sales office. Also in: chnge ofbudgets. bank dmws, account payables and closings.
. ·'S & A Drulouets -'°February J986- August,1989
Office ma_.agu; ·Thft upervision.of main office. In charge ofbudgets. back·draws; oomtruction
loans,;closings. land Cquisition and sales representative.	·	·
A.& FDevelopers    June 198:5-Februory 1986	\
Office coordi. ator: Io charge of constrUction losn, budgets, bank draws and consttuction	.1
supervisor.
Construction Profes.rionals Inc. - June 1980- No'1embe.r 1984
Construction SupervlaOrJD.raftspenon: The construction supervision of sever.al commercial
buildiags and residential hom s. Preparation and coordination ..,f Architectural dttwings:.
FACPJaQiljpg and Di;sign-June 1977-JlJJlC 1980
Draftsperson: l:'ieparation and coordination of Architectural drawings,

Education

Fl rida International lJnivemity, Miami, Florida: Bachelor in Business Administra!ion - 1997 Bachelor inlntemationsl Business- 1997

Miami Dade Community College, Miami, Florida
Pre-Archimcture
Associates in Art Degree - 1978
Professional Registration
Building Contractor- State of Florida- 1986

References

Available upon request.

<IllV08 dO JRIH1J	vsv. SLC soc XVd sr:rr Hf11 90/LT/OT

!5200S.W. 51 Stteet
Miramar, l'L,,;33027

MARIA P. DONOSO

(9S4) 442-929 I
Wodc:	(305) 336-3115
E-n1aiJ: MdonoOOI@IPn1.1iL@m

OBJECTIVE:	ChalJengll18 position where my business and finanpe backgl'Ouncf can serve to improve ope.ratio s.
EDUCAIIDII

-

Florida International University; Miami, FL
Masten, in the Science of Finance, expected giaduation July2006
GPA: 4.0 (4.l>=A)

Florida International University, Miami, FL
B.B.A. 'degree graduated. December 2003 Cum Laude Major: Finance GPA: 3.6 (4.0-A)
Rllllked among top 15% ofjunio,..·and seni0n;
Goltl'Coast Soho_ofolReal Estate, Ft. Lauderdale, FL
. Florida Rea! Estate Salesperson license # SL-0704536
HOBORSl!Hll ACIIIITIIS
President of seven cond minium anp: hoineawner associations for Shoma DeveloppJent Corporation
(December 2003-Present)	_	·	.	· ·
Our Lady of rhe Lakes Parish, volunteer (2000 to present)

EllPBIWIIIE
Accoun G'. DMslon Supervisor. Shoma Development Corporation (Decemller 2003-Present) SUpervise-accounts payable staff: Work•• Director oflhe Homeowner·• .Associations Division. Audit accounts i,,yable commitments and paymeuts. Mansge major accounts ,ruch as advertising, engineering, consulting; and'legal, Manage accounts for lbree eommen:ial properties. ponsible fur all cash disbursement,,. Assist VP/CFO in financing and accounting tasks and projects.
Ae<ounllng, Slioma Development Corporation (December 2002- December 2003}
Entered eccount payables in various acco,mling and devvloper computer programs. Organized and kept nack of <t1ezal llabllity/worker'• comp. insurance for all thesubco111tactors. Mii!)aged all the cash and escrow aeposits.	·,

Real Estate Salesperson, LMG Realty, Inc./Plrst Realty USA, Inc (M'ay 2001 to Present)· lmplemenl!:d networking skills to develop customer leads. Worlred together with realtors, mortgage banks, tide companies, and attorneys to coordinate and lllc!Ulate closings. Prepared standard IJstillg, sale; lease, and seasonal rent contracts. Prepared closing cost estimates. Reviewed Hud 1 steteil1811ts.
Sales Assistant, Wostbrooke Companies, be. (March 2000 to June 2001·)
Assisted sales of homes in Monaco at Sunset T.akes Community, Mita.mar. FL. Facilitated comrmmlcation bettwen·customers and construction superirucndents..Received and·explained customor requests and complaints to SUporior,. Orgaruzed and updated contract files. Maintained weekly sales log. Managed inventory.

SlllllSAIID aBIUlffl
Communkation and Inmpersonol
Trained In working in real estate teams
Demonstrate sound $pe8king: and writing skills polished llu:ougb completion of a comse in
business communication
Ability to speak and write Spanish
Computer
9		Trained in using·Mic.rosoft Word, Works, Power :Point, Excel, Access, 1'imberline, Builder Software, and rhe Internet	..

3.3

([l!VOH 1!0 lll!ITTJ	t8t £lC SOC XVd s1:11 illli 90/ll/Ol

This instrument was m-epared bv:	
Name: Address:	Richard Schanerman, Esq. Akennan Senterfitt
1 Southeast 3td Avenue, 28th Floor Miami, Fl 33131-1714	
-
(Space Reserved for Clerk)	

DECLARATION OF RESTRICTIVE COVENANTS
WHEREAS, the undersigned Owner holds the fee simple title to the land described in the attached Exhibit A (the ''Property"), located in Miami-Dade County, Fl<rrida (the "County'');

...•

''

and

WHEREAS, Owner desires to provide certain covenants to the County Board of County

Commissioners  (the  • oard'')  in support  of  a  Petition  (the "Petition")  for  creation  of the

Fontainbleau Lakes Community Development District (the "District'') filed November 30, 2005, and approved pursuant to Ordinance No. 	enacted by the Board on 	_
 	(the "Ordinance''), in accoi;dance with the requirements of Chapter 190, Florida Statutes, and Section 1.0l(A)(21) of the County Home Rule Charter; and
WHEREAS,  among  those  covenants  are  provisions   for  the  timely,  accurate,   and

enforceable disclosure, to all prospective initial purchasers who have entered or will enter into contracts  for   improved   residential   units  within  the  Property  (each  a   "Prospectivb Initial
Purchaser''), of the obligation to pay to the District: (1) the pro-rata share for each Dwelling Unit (defined below) of the cost of the acquisition, construction, reconstruction, and equipping of certain public  infrastructure which benefit the Property either  as a  one time assessment  at  the
time of closing or as an annual assessment based on the debt service on bonds to be issued by the
.	.
District to finance such capital costs until such bonds are retired (collectively, "Capital

{M2433136;2}

Ul!VOH  i!O  ll!!ITTJ	t8t £LC goc XVil 91:11 ill1L 90/L1/01

 	-	

Assessments"), and (2) the costs associated with (i) operations of the District including administration ("Operations Assessments") and (ii) maintenance of public infrastructure by the District_ ("Infrastructure Maintenance Assessments''; Operations and Infrastructure Maintenance Assessments are hereinafter collectively referred to as "Administrative Assessments"); and
WHEREAS, other covenants made by Owner include provisions for the long-term maintenance of infrastructure serving the Property including, but not limited to, roadways, drainage, and landscaping; and
WHEREAS, such covenants of Owner are made in order to asSl!]'!) the Board that the representations made by Owner in support of the Petition will be abided by,
NOW, THEREFORE, Owner freely, voluntarily, and without duress, and on behalf of its heirs, successors, and assigns, makes the following Declaratio.n of Restrictive Covenants covering and running with the Property (this "Declaration"):
COVENANTS.
Public Records Notice of Existence of District. . This Declaration shall serve as notice in the public records of the Cowity that unless the. District is terminated in accordance with the requirements of Chapter 190, Florida Statutes, and such termination is reflected in the public records of the Cowity, the Property and all lands, parcels; lots, and units located within the District's boundaries are subject to the Capital Assessments and Administrative Assessments levied and imposed by the District, subject only to the exceptions or exemptions from such assessments expressly provi ed by Florida law.
CDD and Purchase Contract Notices.

1.2.l	Owner shall be required to provide to each Prospective Initial Purchaser of an improved individual residential lot or unit within the Property (individually, a

{M2433136;2)
2

Ol!VOII tlO llll310	t8t £LC SOC XVtl 91:11 3llJ, 90/Ll/Ol

''Dwelling Unit'') written notice of the estimated annual Capital Assessments  and Administrative	'")
'	)

-

Assessments (the "CDD Notice'') to be imposed on such individual Dwelling substantially in the funn attached hereto as Exhibit B prior to, or contemporaneously with, the execution of a purchase and sale contract  (''Purchase Contract")  for such Dwelling Unit.   For the  purposes  of
this Declaration, the term "Owner" means each seller of Dwelling Units within the Pr perty. Notwithstanding the foregoing, if a Prospective Initial Purchaser executed a Purchase Contract before-the effective date (10 days after enactment) of  the Ordinance (the ''Effective  Date of the
Ordinan but was not given: an contemporaneous CDD Notice, Owner n;iay still·give the CDD
Notice to such Prospective Initial Purchaser; provided, however, such CDP notice must be given

together with the following written notice and must be sent to such Prospective Purchaser by certified mail, J)l'(!fessional overnight delivery or hand delivery, with return receipt, not later than
the first business day following the Effective Date of the Ordinance:
\
THE  DWELLING  UNIT  YOU  ARE  PURCHASING  IS  SUBJECT TO A	'
COMMUNITY DEVELOPMENT DISTRICT AND A RELATED DECLARATION OF RESTRICTIVE COVENANTS WlilCH REQUIRES TIIAT CERTAIN NOTICES BE GIVEN TO PURCHASERS BY OWNER: THIS NOTICE AND THE ATIACHBD CDD NOTICE ARE BEING GIVEN TO YOU PURSUANT TO SUCH DECLARATION. PLEASE NOTE TIIAT THE DISTRICT PLANS TO ISSUE OR HAS ISSUED BONDS TIIAT WILL HAVE PRINCIPAL AND INTEREST PAYMENTS APPLICABLE TO TIIIS DWELLING UNIT OVER A PERIOD OF UP TO TillRTY (30) YEARS TO FUND CONSTRUCTION OF INFRASTRUCTURE SERVING THE PROPERTY lN THE ESTIMATED AGGREGATE AMOUNT OF $[See Exhibit BJ. THIS DWEILING UNIT SHALL BE ASSESSED AN ESTIMATED CAPITAL ASSESSMENT OF $$[See Exhibit Bl IF PAID IN FULL AT CLOSING OR AN ESTIMATED ANNUAL CAPITAL ASSESSMENT OF $(See Exhibit BJ FOR ITS PROPORTIONATE SHARE OF DEBT SERVICE ON THE BONDS UNTIL SUCH BONDS ARE PAID IN FULL. WHETHER THE CAPITAL ASSESSMENT IS PAID ONE TIME AT CLOSJNG ORIN ANNUAL INSTALLMENTS IS AT THE OPTION OF THE PURCHASER TO BE EXERCISED AT TilE TIME OF CLOSING. THE ATTACHED NOTICE FULLY DESCRIBES YOUR OBLIGATIONS. YOU
MAY ELECT TO RESCIND THE PURCHASE CONTRACT FOR A PERIOD OF 1HIRTY (30) DAYS FOLLOWING RECEIPT OF nus NOTICE.  UPON
SUCH ELECTION, OWNER SHALL RETURN ALL MONIES PAID BY YOU AS TIIB PROSPECI1VE INITIAL PURCHASER REGARDING TIIE PURCHASE OF THE REAL PROPERTY IDENTIFIED lNTHE PURCHASE CONTRACT WITilIN TEN (10) CALENDAR DAYS AFTER RECEIVING YOUR WRITrEN NOTICE  TIIAT  YOU HAVE  ELECTED  TO RESCIND

-{M2433136;2}

9CO	Cll!VOH dO XHITTO	tst SLC soc XVd Ll'll HnL 90/LT/OT

THE PURCHASE CONTRACT, AND ALL 01'HER PROVISIONS OF THE DECLARATION OF RESTIUCTIVE COVENANTS NOT INCONSISTENT WfTII  THE  REMEDIES  SET  FOR1H  HEREIN 'SHAIL  GOVERN,    NO
OilIER REMEDIES ARE AVAILABLE TO PURCHASER WlIETHER OR
NOT YOU ELECT TO RESCIND EXCEPT IN1HE EVENT OF AN OWNER DEFAULT WITH RESPECT TO THE CDD NOTICE AND TIIEN ONLY IN ACCORDANCE WITH TIIE DECLARATION.

Owner shall promptly refund any amounts due under the foregoing noti88 if a Prospective Initial Purchaser properly rescinds a Purchase Contract dwing the time provided. No other remedies provided in Section 1.4 shall be available to a Prospective Initial Purchaser who terminates .a
Purchase Contract pursuant to the foregoing notice.

1.2.2	Owner shall also provide substantially the following disclosure

(''Purchase Contract Notice'') on the first page of each Pm-chase ·Contract executed after the Effective Date of th,., Ordinance for a Dwelling Unit within the Property, immediately after disclosure of the purchase price for the Dwelling Unit:

{M2433136;2)

THIS DWELLING UNIT IS WITIIlN A COMMUNITY DEVELOPMENT DISTIUCT ("DISTIUCT''). THE DISTRICT PLANS TO ISSUE OR HAS ISSUED BONDS 1HAT WILL HAVE PRINCIPAL AND INTEREST PAYMENTS APPLICABLE TO THIS DWELLING UNIT OVER A PERIOD OF UP TO TiflRTY (30) YEARS TO FUND CONSTRUCT10N OF INFRASTRUCTURE  SERviNG  THE  PROPERTY  IN  TIIE ESTIMATED
AGGREGATE  AMOUNT OF $[See Emlblt BJ.  TIIIS DWELLING UNIT
SHALL BE  ASSESSED  AN  ESTIMATED  CAPITAL. ASSESSMENT OF
$[See Exhjblt BJ IF PAID IN FULL AT CLOSING OR AN ESTIMATED ANNUAL CAPITAL ASSESSMENT OF $[See Eshlbit BJ FOR ITS PROPORTIONATE SHARE OF DEBT SERVICE ON TIIE BONDS UNTIL
SUCH BONDS ARE PAID IN FULL, WHETHER TIIE CAPITAL ASSESSMENT IS PAID ONE TIME AT CWSING OR IN ANNUAL INSTALLMENTS IS AT THE OPTION OF 1HE PURCHASER TO BE EXERCISED AT 1HE TIME OF CLOSING. 1HESE AMOUNTS ARE DUE OVER TI!E TERM OF THE BONDS IN ADDIDON TO THE PURCHASE PRICE. INmAL PURCHASER ALSO UNDERSTANDS THAT IF THE ACTUAL ANNUAL CAPITAL ASSESSMENTS ONTIIB DWELLING UNIT ARE MORE 11IAN FIVE PERCENT (5%) lllGHER 1HAN 1HE ESTIMATED AMOUNT PROVIDED HEREIN, INmAL PURCHASER SHALL HAVE TIIE RIGHT TO RESCIND THIS AGREEMENT AT ANY TIME PRIOR . TO CLOSING. INITIAL PURCHASER FUR1HER ACKNOWLEDGES AND AGREES THAT TIIE ESTIMATED AMOUNT OF CAPITAL ASSESSMENTS DOES NOT INCLUDE ADMINISTRATIVE ASSESSMENTS  WlilCH  SHALL  BE  LEVlED  BY THE 'DISTRICT FOR
OPERATIONS AND INFRASTRUCTURE MAINI'ENANCE AND MAY VARY FROM YEAR TO YEAR AND FROM TIME TO TIME. IN THE EVENT  OF  ANY  CONFLiCT  BETWEEN  THE DISCLOSURES .IN IBIS

4	,7

crnvoa tlO	HH1	8 . SL	so	XVtl LT'll Hni 90/LT/OT

PROVISION AND TIIE ATTACHED CDD NOTICE, THE CDD NOTICE SHALL CONIROL.

PURCHASER'S INITIALS:

.    ·''.'.)••

Owner shall cause each Prospective Initial Purchaser to initial the Purchaser Contract Notice

where indicated.

1.3

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Relief to Prospective Initial Purchaser for Owner Default.

1.3.1 Owner shall provide relief, in the manner provided by this Section
to any Prospective Initial Purchaser who has not yet closed on·a Dwelling Unit if any one of the following events shall occur (an "Owner Default''):
1.3.1.1.0wner fails to provide a timely CDD Notice or Purchase Contract Notice as required; and/or
1.3.1.2.0wner provides a timely CDD Notice; however, such CDD Notice underestimates the aggregate or monthly actual Administrative Assessments for the District's first three fiscal years by more than five percent (5%); and/or

1.3.1.3:0wner provides a timely CDD Notice and/or Purchase Contract; however, such CDD Notice and/or Purchase Contract Notice underestimates the actual Capital Assessment, if paid in full at closing, by more than five percent (5%) and/or monthly actual Annual Capital Assessments by.more than five percent (5%).
In the event of any Owner Default that is not cured by a timely Late Notice (as hereinafter defined), a Prospective Initial Purchaser may, in writing (a
"Termination Notice''), elect to rescind the Purchase Contract at any time prior to closing. Upon such election, Owner shall return all monies paid by the Prospective Initial Purchaser regarding the purchase of the real property identified in the Purchase Contract within ten (10) calendar

(M2433136;2}

5

Cil!VOII IIO lll!ITT	tst SLC soc xv	s1:11 llil 90/LT/OT

days after receiving written notice from the Prospective Initial Purchaser that such Prospective Initial Purchaser has elected to rescind the Purchase Contract. No other remedies provided in Section 1.4 shall be available to a Prospective Initial Purchaser who tenninates a Purchase
Contract pursUllllt to this provision.	-
Prior to the receipt of a Termination Notice from a Prospective.

Initial Purchaser affected by an Owner Default, Owner shall have an opportunity to cure any·

Owner Default' by providing a written notice (a "Late Notice'') to such affected Prospective
Initial Purchaser (i) prior to closing and (ii) within the later of ninety (90) days from (x) the date of execution of the Pun:hase Contract or (y) the Effective Date of the·Ordinance (the "Cure Period"). If the Owner Default set forth in Section 1.3.L3 is due solely to  a  fluctuation  of interest rates on the bonds once the pricing of the bonds is completed, Owner shall have the opportunity  to  cure such  Owner  Default by  providing  a  written·notice  setting  forth the  new
annual Capital Assessmenis to such affected Prospective Initial Purchaser (the ''Extended Late Notice") no later than the earlier of (i) the closing date of the. Dwelling Unit or (ii) ninety (90) days from the pricing of the bonds (the "Extended Cure Period").   An Owner Default	be cured as to an affected Prospective Initial Purchaser after the expiration of the applicable Cure Period or applicable Extended Cure Period. If Owner provides (i) a Late Notice to a Prospective Initial Purchaser during the applicable Cure Period or (ii) an Extended Late Notice during_ applicable Extended Cure Period, then Such Prospective Initial Purchaser may still elect to rescind the Purchase Contract at anytime for a period of thirty (30) days following receipt of Late Notice or Extended Late Notice. Upon such election, Owner shall return all monies paid by the Prospective Initial Purchaser regarding the purchase of the real property identified in the
Purchase  Contract   within  ten  ( IO)  calendar   days  after  receiving  written   notice  from the

{M2433136;2)

6

m1voa ilo llll11'W	tst Sl& SO& XVil s1:11 ffi1L 90/ll/OT

Prospective  Initial  Purchaser  that such  Prospective Initial  Purchaser has elected  to rescind the
)
Purchase Contract. No other remedies provided in Section 1.4 shall be available to a Prospective

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Initial Purchaser who receives an accurate Late Notice or Extended Late Notice during the Cure Period  or Extended  Cure  Period,  as  applicable,  regardless  of whether  the  Prospective Initial
Purchaser elects to rescind the Purchase Contract.

Every Late Notice or Extended Late Notice sent by Owner to a Prospective Initial Purchaser must include the following in bold type in a font at least as large as the largest font in such Late Notice or Extended Late Notice (with correct type of notice indicated):
J1IB DWELLING UNIT YOU ARE PURCHASING IS SUBJECT TO A COMMUNITY DEVELOPMENT DISTRICT AND A RELATED DECLAl!,ATION OF RESTRICTIVE COVENANTS WIIlCH REQUIRES 1HAT CERTAIN NOTICES BE GIVEN TO PURCHASERS BY OWNER. THIS IS A [LATE N011CE or EXTENDED LATE N011CE] UNDER SUCH DECLARATION. IF OWNER.PROVIDES YOUWITII TIIIS{LATE N011CE or EXI'ENDED LATE N011CE] DURING TIIE APPLICABLE CURE PERIOD, THEN YOU AS A PROSPECTIVE INITlAL PURCHASER MAY STILL ELECT TO RESCIND TIIE PURCHASE CONTRACT FOR A PERIOD OF TIIIRTY (30) DAYS FOLLOWING RECEIPT OF THIS [LATE N011CE or EXTENDED LATE N011CEJ. UPON SUCH ELECTION, OWNER SHALL RETURN ALL MONIES PAID BY YOU AS THE PROSPECTIVE INITIAL PURCHASER REGARDING TIIE PURCHASE OF TIIE REAL PROPERTY IDENTIFIED IN TIIE PURCHASE CONTRACT WITHIN TEN (10) CALENDAR DAYS AFl'ER RECEIVING YOUR WRITTEN NOTICE YOU HAVE ELECTED TO RESCIND THE PURCHASE
CONTRACT., AND ALL OTHER PROVISIONS OF TIIE DECLARATION OP RESTRICTIVE COVENANTS NOT INCONSISTENT WITH TIIE REMEDIES SET FORTI! HEREIN SHALL GOVERN. NO OTIIER REMEDIES PROVIDED IN SECTION 1.4 OF TIIE DECLARATION SHALL BE AVAILABLE TO YOU AS A PROSPECTIVE lNl11AL PURCHASER IF YOU  RECEIVE  THIS  [LATE  N011CE  or  EXTENDED  LATE NOTIC(S]
DURING 1HE APPLICABLE CURE PERIOD, REGARDLESS OF WHETHERYOU AS A PROSPECTIVE INITIAL PURCHASER ELECT TO RESCIND TIIE PURCHASE CONTRACT.

If the Owner Default involves the failure to provide a Purchase Contract Notice or Owner provided a Purchase Contract Notice in substantially the correct form and location; however, such Purchase Contract Notice underestimated the actual Capital

{M2433136;2)

1	Yo
Ul!VOH  1!0  l!HITT:J	s .£LS sos XVrl s1:11 lli!L  90/LT/OT

Assessment, if paid in full at closing, by more than five percent (5%) and/or the annual Capital Assessments by more than five percent (5%), then the Late Notice or Extended Late Notice shall also contain the following:
YOUR PURCHASE CONTRACT PROVIDES THAT TIIB PURCHASE PRICE FOR YOUR DWELLING UNIT IS AS FOLWWS:- [INSERI' PURCHASEPRICE INFORMATION]. TIUS DWELLING UNIT IS OR WILL BB WITIIIN A COMMUNITY DEVELOPMENT DISTRICT (''DISTRlCT"). TIIE DISTRICT PLANS TO ISSUE OR HAS ISSUED BONDS THAT WILL HAVE PRINCIPAL AND !NlEREST PAYMENTS APPLICABLE TO THIS DWELLING UNIT OVER A PE"RIOD OF UF TO THIRTY (30) YEARS TO FUND CONSTRUCTION -OF INFRASTRUCTURE SERVING 1HE PROPERTY IN TIIB ESTIMATED AGGREGATE AMOUNT OF $
Exhibit  fil.	nns DWELLING .UNIT SHALL BE ASSESSED AN ESTIMATED  CAPITAL ASSESSMENT  OF $(See E•biblt B)  IF !'AID n,r
FULL AT CWSINO OR .AN ESTIMATED ANNUAL CAPITAL ASSESSMENT OF $(See Exhibit BJ FOR ITS PROPORTIONATE SHARE OF DEBT SERVICE ON TIIB BONDS UNTIL SUCH BONDS ARB PAID IN
FULL. WHBTIIBR TIIB CAPITAL ASSESSMENT IS PAID IN 11ULL AT
CLOSING ORIN ANNUAL INSTALLMENTS IS AT TIIB OPTION OF THE PURCHASER TO BB EXERCISED AT THE TIME OF CWSING.THBSB AMOUNTS ARB DUE OVER THE TERM OF THE BONDS IN ADDITION TO THE PURCHASE PRICE. PURCHASER ALSO UNDERSTANDS THAT IF THE ACTUAL ANNUAL CAPITAL ASSESSMENTS ON THE DWELLING UNIT ARB MORB THAN FIVE PERCBNT (5%) HIGHER THAN THE ESTIMATED AMOUNT PROVIDED HER,EIN, PURCHASER. SHALL HAVE THE RIGHT TO RESCIND THIS AGREEMENT AT ANY TIME PRIOR TO CLOSING. PURCHASER FURTflBR ACKNOWLEDGES AND AGREES THAT THE ESTIMATED AMOUNT OF CAPITAL ASSESSMENTS	DOES	NOT	· INCLUDE	ADMINISTRATIVE ASSESSMENTS WHICH SHALL BE LBV1BD BY THE DISTRICT FOR OPERATIONS AND INFRASTRUCTURE MAINTENANCE AND MAY VARY  FROM  YEAR  TO YEAR AND FROM  TIME TO TIME.   IN THE
EVENT  OF ANY  CONFLICT  BETWEEN  Tiffi D!SCWSURBS  IN nns
PROVISION  AND 111B ATTACHED  CDD NOTICE, THE CDD NOTICE
SHALLCONTROL.

If the Owner Default involves the failure to provide a CDD Notice or Owner provided a timely CDD Notice; however, such CDD Notice underestimated (i) the actual aggregate Administrative Assessments for ,;ach of the District's first three fiscal years by
more than five percent (5%) and./or (ii) the actual Capital Assessment.,  if paid in  full at closing, by more than five percent (5%) and/or the actual annual Capital Assessment by·more than five
percent  (5%), then the Late Notice or Extended  Late Notice must also include a CDD Notice, if

. {M2433136;2}

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Cll!VOH dO XHITTO	t8t 9LC 90C XVd 61'11 fill 90/Ll/OT

the   Owner  Default  involves  a  failure  to  provide  a  COD  Notice  or   an  accurate· revised  CDD	··~, Notice, if the Owner Default involves a timely but inaccurate CDD Notice.
1,4	Relief to a· Promective Initial Pw-chaser Who Actually Closes on a

Dwelling Unit After an Uncorrected Owner Default.

In the event Owner fails to give a Prospective Initial Purohaser a timely COD Notice, and such failure is not corrected by a timely and accurate Late Notice, then
a Prospective Initial Purchaser·that closes on the Dwelling Unit ("Actual Initial Purchaser''}may demand, in writing, that Owner pay such Actual Initial Purchaser (i) th& amount necessary to prepay all Capital Assessments principal, and interest on such Capital Assessments principal due through the next applicable bond payment date respecting the Dwelling Unit plus (ii) an amount equal to the sum of the share_ of the actual Admioistrative Assessments levied by the District on
·such Dwelling Unit for the District's first three (3) fiscal years immediately following the closing	•, respecting the Dwelling Unit.
In the event that Owner gave to an Actual Initial Purchaser (i) both a timely COD Notice and Purchase Contract Notice and either underestimated the actual Capital Assessment, if paid in full at closing, by more than five percent (5%) and/or the actual annual Capital Assessments (as set forth in Table 1 of the COD Notice) by more than five percent (5%) and such underestimate was not corrected by a timely and accurate Late Notice or Extended Late Notice or (ii) a timely COD Notice and no Purchase Contract Notice, if applicable, and the COD Notice underestimated the actual Capital Assessment, if paid in full at closing, by more than five
percent (5%) and/or the actual annual Capital Assessments by more than five percent (5%) and such underestimate was not corrected by a timely and accurate Late Notice or Extended Late Notice, then such Actual Initial Purchaser may demand, in writing, that Owner (a) pay such

{M2433136:2}

.    9	C/ l---

UHVOH tlO lll!H1c>	rRro SL& SO& XVtl 51:11 llil 90/Ll/Ol

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actual Initial Purchaser, in the event he or she elects to pay the Capital Assessment in full at closing, an amount equal to the difference between the actual Capital Assessment due at closing · and the estimated Capital Assessment due at closing disclosed in the COD Notice to the Actual Initial Purchaser or pay such Actual Initial Purchaser, in the event he or  she elects. to  pay an annual Capital Assessment, an amount equal to the difference between the actual  aggregate amount of annual Capital Assessments, calculated over the term of the bonds, levied and
imposed by the District on such Dwelling Unit and the aggregate amount of estimated annual Capital Assessments, calculated over the term of the bonds, actually disclo ed in the CDD Notice to the Actual Initial Purchaser or, (b) if less, the amount necessary to prepay all Capital Assessments priucipal and interest on such Capital Assessments principal through the next applicable bond payment date with respect to the Dwelling Unit.
In the event th11t Owner gave an Actual Initial Purchaser a timely COD Notice and such CDD Notice underestimated the actual  annual  Administrative Assessments by more than five percent (5%) and such underestimate was not corrected by a
timely and accurate Late Notice, then such Actual Initial Purchaser may demand, in writing, that
Owner pay such Actual Initial Purchaser an amount equal to the difference between the actual amount of the Administrative Assessments levied and imposed by the District on such Dwelling Unit and the amount of estimated Administrative Assessments disclosed to the Actual Initial Purchaser in  the CDD Notice calculated for the District's first three.(3) fiscal years immediately
following the closing based on the initial actual annual Administrative Assessments.

Upon such demand by an Actual Initial Purchaser under this Section 1.4, Owner shall deliver the applicable ammmt to the Actual Initial Purchaser within ten (IO) calendar days after: (I) receipt of written demand, or (2) after the date Capital Assessments

{M2433136;2}

10

UHV08 i!O llll11'W	tSto SL& 90& XVil 00:11 11!11	90/l1/01

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and Administrative Assessments first become payable, whichever is later, unless Owner and Actual Initial Purchaser agree to another manner or time of payment. An  Actual  Initial Purchaser shall provide to Owner written notice of election of remedy in tlris Section on or  before one (1) year after the earlier of (I)  the date that  Capital Assessments  and  Administrative
Assessments  first  appear on  the  Actual  Initial  Purchaser's  Combined  Real  Property  tax bill for
the affected Dwelling Unit or (2) if such assessments are directly billed by the District and do not appear on the Actual Initial Purchaser's Combined Real Property tax bill, then the date that such Capital  Assessment  and Administrative Assessments  first appear on any plll sent·to the Actual
Initial Purchaser by the District fur the affected Dwelling Unit. After the expiration of that year,

Owner shall not be obligated to provide any relief to such Actual Initial Purchaser under this Declaration.

Notlring in this Section 1.4 shall be construed to relieve any Actual Initial Purchaser of the individual Dwelling Unit of liability for all lawful taxes and assessments including, but not limited to, any tax liability resnlting from Owner's payments to such Actual Initial Purchaser under Section 1.4.
Additional Disclosure through District Sign. O er shall display at every

entrance to a sales office or area, in a conspicuous location readily available for viewing by

Prospective Initial Purchasers of Dwelling Units, a sign with information about the District. The remedy provisions discussed in Section 1.4shall not apply to tlris Section, Such sign(s) shall be no smaller than twenty-four inches by tlrirty-six inches (24" x 36"), and shall contam the following language in substantially similar form in large, boldface type:

...
·'

{M24lill6;2)

11

Ol!VOII tlO llll310	tStZ £LC £QC XVd oz:11 HO	90/Ll/01

FONTAINBLliAU LAKES COMMUNITY DEVELOPMENT DISTRICT PURSUANT	TO	CHAPTER	190,  .FLORIDA	STATUTES,	'IBE
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENf DISTRICT MAY IMPOSE TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON TIIJS PROPERTY THROUGH A SPECIAL TAXING DISTRICT.	THESE   TAXES  AND  ASSESSMENTS	PAY 'IBE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES OF 11IB DISTRICT AND SET ANNUALLY BY THE OOVBRNJNO BOARD IN ADDffiON TO COUNTY AND AU, OTilllR TAXES AND ASSESSMENTS PROVIDED FOR BY LAW. THE FONTAINBLEAU LAKES COMMUNTIY DEVELOPMENT DISTRICT EXPECTS TO iSSUB BONDS TO FINANCE A PORTION OF THE CONSTRUCTION OF REQUIRED PUBLIC INFRASTRUCTURl! IN FONTAINBLEAU  LAKES.	A PURCHASER OF PROPERTY IN FONTAINBLEAU LAK1lS Wll.L BE OBLIGATED TO PAY ANNUAL ASSESSMENTS TO AMORTIZE THE DEBT AND. FOR DISTRICT ADMINISTRATION, WHlCH AMOUNTS ARE SEPARATE FROM THE PURCHASE PRICE OF THE PROPERTY AND OTHER ASSESSMENTS ON TIIE PROPERTY, AND WHICH MAY VARY FROM YEAR TO YBAR AND FROM TIME TO TIME. TIIB TOTAL ANNUAL ASSESSMENTS VARY IN RBLATIONTOTHEINFRASTRUCI1JREBENBFITALLOCATEQ.TOTIIE PROPERTY ASSESSED, AND ·ARB EXPECTED TO APPEAR ON A PURCHASER'S PROPERTY TAX BILL EACH YEAR, BUT MAY BE BlLLBD DIRECTLY BY THB FONTAINBLEAU LAKES COMMUNITY DEVELOPMl!NT.DISTRlCT. A PURCHASER SHALL HAVB THE OPTION TO. PAY IN FULL AT ANY TIME ·THE PRO RATA SHARE, AS ALLOCATED TO THE PURCHASER'S PROPERTY, OF THE TOTAL AMOUNT OF DISTRICT CAPITAL ASSESSMENTS DUE. FOR FURTHER. INFORMATION ON THE FONTAJNBIBAU LAKES COMMUNITY DEVBLOPMl!NT DISTRICT AND A PURCHASER'S BENEFITS AND OBLIGATIONS RELATING THERETO, CONTACI' SPECIAL DISTRICT SERVICES, INC. TOLL FREE PHONE (877) 737-4922.

Inspection of District Records by County RcpresentativesOwner shall allow or provide for the District to allow County representatives to review all pertinent records in order to assess the overall perfurmance of Owner in providing timely and accurate disclosure of
estimated Capital Assessments and Administrative Assessments on Dwelling Units within the DistricL Prompt access shall be provided without prior notice of inspection by the County representatives, but only during normal business hours and without disruption of sales operations. The purpose of such inspection is only to determine Owner's overall compliance with the aforementioned notice requirements and such inspection shall not authorize the County

{M2433136;2}
12

8 • SL& SO& XVtl 10:11 ffil 90/Ll/Ol

to seek any relief provided under Section I.4, either on behalf of itself or on behalf of any Prospective Initial Purchaser or Actual Initial Purchaser.

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I.7	Sole    Provider    of . Water,	Wastewater. · and Reuse ServiceOwner acknowledges and agrees that the Miami-Dade County Water and Sewer Department
("WASD"), or its successor agency or department, shall be ihe exclusive provider of water, wastewater, and reuse service to all lands within the Property. Service shall be provided by WASD in accordance with its general policies and procedures for providing service tlnoughout the County.
1.8	Application   for   Multi-Purpose   Special   Taxing   District   to  Maintain

InfrastructureThe costs of maintaining the infrastructure constructed with funding provided tlnough the District shall be the responsibility of the District and its successors and assi!!lls· In order to assure that such maintenance is performed, however, on or before the. recording of  a final plat on any portion of the Property, Owner shall apply to lhe Board for the creation of a multi-purpose special taxing district to maintain the infrastructure serving the Property including, but not limited to, roadways, drainage, walls, and landscaping, as applicable. Upon approval of the multi-pwpose special taxing district by the Board, such taxing district may remain dormant until, in the sole and exclusive opinion of the Board, both the District and any homeowners' or similar association shall have failed to maintain the infrastructur serving the Property, as such failure is defined  in any easement  and/or covenant  recorded in the public records and governing
the infrastructure or similar agreement provided by Owner, or in the abseilce of such easement,

covenant or agreement, as determined by the Board. Upon such determination, the Board shall authorize the activation of the multi-putpose special taxing district and cause the infrastructure to be maintained  at the expense of such taxing district.   By this provision, dwner hereby authorizes

{M2433136;2}

13

Cll!VOII  dO  JlllffJJ	t9tZ £l& £0& XVd rz:11 lli1L 90/LT/01

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the Board and its officials, employees, and agents to enter upon the Property if the special taxing district is activated for the purpose of maintaining the infrastructure serving the Property. Owner further agrees to apply, at the time of plat, replat, or waiver of plat, as applicable, to provide for an easement for the benefit of the County and providing that at any and all times during which the infrastructure or any portion thereof is maintained by the County, the public shall have ii right of perpetual access and use in those portions of the Property on which the infrastructure is located including, but not limited to, the roadways serving the Property.
BENEFITS AND ENFORCEMENT.
The covenants set forth in Sections 1.2., 1.3 and 1.4 shall run and be in favor of and to the benefit of Prospective Initial Purchasers and Actual Initial Purchasers of individual Dwelling Units within the Property, and their heirs, successors, and assigns, and shall be enforceable exclusively by such persons. After an.individual Dwelling UDit has been once conveyed to an Actual Initial Purchaser, no further notice shall be required to be provided by Owner to any purchaser of a Dwelling Unit if the same has been improved with a residence.· Jf a Dwelling Unit is conveyed as unimproved land, then such Dwelling Unit shall not be deemed to have been conveyed to a Prospective Initial Purchaser or Actual Jnitial Purchaser, and all of the covenants set forth in Sections 1.2, 1.3 and 1.4 shall apply to the Dwelling Unit and any Owner offering such Dwelling Unit for sale to Prospective lnitial Purchasers.
The covenants set forth in Sections 1.6, I. 7 and 1.8 shall run and be in
favor of and to the benefit of the Coun.ty or any s-uccessor municipal government, and shall be enforceable exclusively by such governmental entity.
Enforcement shall be by action against any party or person violating, or attempting to violate, any covenants herein. The prevailing party in any action or suit pertaining to or arising out of this Declaration shall be entitled to recover, in addition to costs and
{M243lll6;2)
14

t8to SL& soc XV,! zz:11 a□	90/LT/OT

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disbursements allowed by law, such sum as the Court may adjudge to be reasonable for attorney and paraprofessional fees and costs and expenses and trial and upon appeal. This enforcement provision shall be in addition to any other remedies available at law or in equity, or both.
COVENANf RUNNING WITH THELAND.
This Declaration on the part of Owner shall constitute a covenant running with the land and shall be recorded, at the expense of Owner in the public records of the County, following the acceptance by the Board of an ordinance approving the creation of the District, and shall remain

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in full force and effect and be binding upon the un.dersigned Owner, and its successors and assigns,  until such time as the same is  modified  or released.   These restrictions during their
lifetime shall be for the benefit of, and litigation upon, all present and future owners of the Property and for the public welfare. Owner, on behalf of itself and its heirs, successors, and assigns, acknowledges that acceptance of this Declaration does not in any way obligate the County to undertake the construction or maintenance of any infrastructure or any other duty·or obligation of the District.
J1IBM,.
This Declaration is to run with the land and shall bebinding on all parties and all persons claiming llllder it for a period of thirty (30) years from the date Ibis Declaration is recorded, after which time it shall be extended automatically for successive periods of ten (JO) years each, tm!ess an instrument signed by the then owner(s) of the Property has been recorded agreeing to change the covenant in whole, or in part, provided that the Declaration has first been modified or released by the Collllty.
MODIFICATION. AMENDMENT. OR RELEASE.
This Declaration may be modified, amended, or released as to the land herein described, or any portion thereof, by a written instrument executed by the then owner(s) of all of the

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Property, or of such portion as will be affected by the modification, amendment, or release, including joinders of any and all mortgagees, provided that the same is also approved by the Board, "afterwblic hearing.
Should this Declaration be modified, amended, or released, the County Manager. or successor official of the County, or the assistant in charge of the office in the County Manager's absence, shall forthwith execute a written instrument effectuating and acknowledging such modification, amendment, or release.
6;	ELECTION OF REMEDIES.
All rights, remedies, and privileges granted herein shall be deemed to be cumulative, and the exercise of any one or more shall neither be deemed to constitute an election of remedies, nor. shall such exercise preclude the party exercising the same from exercising such other additional rights, remedies, or privileges.
SEVERABILITY.
Invalidation of any one of the covenants herein by judgment of Court shall not affect any of-the other provisions of this Declaraiion which shall remain in full force and effect. However, if any material portion of the covenants herein is invalidated and such provision is not timely amended or replaced, or cannot be timely amended or replaced in an enforceable way With materially the same effect as the invalidated provision, the County shall be entitled to revoke any approval predicated upon the invalidated portion. It shall be Owner's obligation to apply for and diligently pursue any such application fur amendment or replacement.
ACCEPTANCE OF DECLARATION.
Owner aclmowledges that acceptance of this Declaration does not obligate the County in any manner with respect fo the District, or with respect to any land use application on the Property, nor does it entitle Owner to a favorable recommendation or the approval of any

{M2433l36;2)
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application, zoning or otherwise, and the Board and/or any Conumnrity Zoning Appeals Board and other County boards, officials, and employees retain full authority to approve or deny such application.

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IN WITNESS WHEREOF, the undersigned has set its hand and seal to this Declaration

ofRes1rictive Covenants this /:/:,	day of a_, 115t•'

2006.

OWNER: FONTAINBL
limited liab. i

STATE OF FLORIDA
.	COUNTY OF MIAMI-DADE

The foregoing instrument was ackqowledged Fontainbleau Lakes, LLC this	·/	day o

Owner's A
5835 Blue Lagoon Drive,
4th Floor,
Miami, Florida 33126
\

by Masoud Shojaee, the President of 006 who is personally know.ii to me

or who produced 	-1-J.

"fication.

{M2433!36;2)
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tStZ 9l	soc xvii gz:11 HO	90/lT/OT

Exhibit A
LEGAL DESCRIPTION

-

ro	PLAT

TRACTS I 2 3 4 ANO 7 "FONfA1NBLEAU PARK SUBDMSION SECTION ONE", AccoRDING        THE	11JEREOF AS RECORDED IN PLAT BOOK 90, AT PAGE 56, OFTIIBPUBLIC RECORDS OF DADE COUNTY

TOOEI'IIBR WITH:
A  PORTION OF THE NORTIIWEST 114 OF SECTION 4, TOWNSHIP 54 SOUTH, RANGE 40. EAST, MIAMI-DADE COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED ASFOLWWS:	.

COMMENCE AT THE NORTHWEST CORNER OF SAID SECI1ON 4, 'fOWNSllIP 54 soum, RANGE 40 EAST; TI!ENCE RUN NORTH 89°58'50" EAST, ALONG THB NORTH LINE OF SAID SECTION 4 (ALSO BEING THE SOUIH LINE OF GOVERNMENT LOT 1) FOR A DISTANCE OF95.06 FEEr TO THE POINT OF BEGINNING OF PARCEl. OF LAND UllR.EINAFTER TO BE DESCRIBED; THENCE CONTINUE NORTH 89"58'50" EAST ALONG LAST DESCRIBED COURSE FOR A DISTANCE OF 36.55 FEEr TO A POINT OF INTERSECTION WITH THE WBST LlNE OF TRACT "F' "BLUE FONfAJNE TRACT",
ACCORDING TOTHEPLATTilEREOF AS RECORDED IN PLATBOOK 140,ATPAGE 76, OF THE PUBLIC RECORDS OF DADE COUNTY, FWRIDA; THENCE RUN soum
08°57'20" WEST, AWNG THE WES'!-' LINE OF TRACT "F' FOR A DISTANCE OF 7.93 FEET TO A POINT; THENCE RUN SOUTH 02°06'50" EAST, AWNG SAID WEST LINll"OF TRACT "F'' FOR A DISTANCE OF 58.88 FEET TO THE $O1JI1IWEST CORNER OF.SAID TRACT "F'' (SAID POINf ALSO BEING A POINT OF INTERSECTION WITH THE NORTH RIGHI'..OF-WAY LINE OF FONTAINEBLEAU BOULEVARD AS SHOWN ON PLAT OF "FONTAINEBLEAU BOULEVARD PAllK AND·PARK BOULEVARD", ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 90, AT PAGE 28, OF THE PUBUC RECORDS OF DADE COUNTY, FLORIDA; THENCE RUN SOU'IH 89"42'20" WEST, ALONG LAST DESCRIBED COURSE FOR A DISTANCE OF 35.02 FEET TO A POINT OF INTERSECTION WITH TIIE EAST RIGIIT-OF-WAY LINE FOR CANAL AS SHOWN ON PLAT OF "BLUE FONTAINE REPLAT", ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 140, AT PAGE 2, OF THE l'Ul3LIC RECORDS OF DADE COUNTY, FLORIDA; THENCE RUN NORTH 02"06'50" WEST, ALONG THE EAST RIGHT· OF-WAY LINE OF SAID CANAL FOR A DISTANCE OF 66.89 FEEi' TO A POINT OF INTBRSECI'ION WITH THE NORTH LINE OF SAID SECTION 4 (SAID POINT ALSO BEING THE POINT OF BEGINNING). SAID PARCEL OF LAND LYING AND BEING SITUATED IN MIAMI-DADE COUNTY, FLORIDA.
TOGETHER WITH:

A PORTION OF GOVERNMENT LOI' 4 BETWEEN TOWNSHIP 53 AND 54 SOUTH, RANGE 40 EAST, AS FOLWWS: COMMENCING AT THE SOUTIIEAST CORNER OF GOVERNMENT LOT 4; THENCE soum 89°58'36" WEST 1490.13 FEEI' TO THE POINT OF BEGINNING;  THENCE  NORTH 01°53'09"- EAST 1035.40  FEET; THENCE NORTH
87'00'00" WEST 160.03 FEET; THENCE SOUTH 010.53'09"WEST1043.86 FEET; THENCE
SOUTH 89°58'20" RAST 160.09 FEIITTO THE POINT OF BEGINNING.
AND

TRACTS F & G, BEING ALL OF 'FONTAINEBUJAU PARK WEST SECTION THREE" ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 103, AT PAGE 96 OF1llE PUBUC RECORDS OF MIAMI-DADE COUNTY, FLORIDA.

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ExhibitB
CDDNOTICE
filti ESJ'IMATED TOl'AL  ANNIJAJ, DJSl'JIICT  ASSESSMENTS  DID< PER DWELLING UNIT FOR EACH OF  TllE

lnfi'astrncture.Malnte.tlance Assessments mlW behl'""er in 1ubs1N Ile.at vear.s biased on aduil bud.,, ti adnnted '--·theDlstrietl,	

1)lpeofDwelbog Unit (and Pbaait, lf Appll,.blo)	E-,lim-akd
Dlslrlct Capital

Including Principal andl (1ee8ectfon13.I and
3.21ldew)	_   ...4!!!11111
Admiu.istralfyeAssessments (In chidesboth Opentlons and lufrastrutture Maintenance A!liePments) (,..Sedlo•3.4 Bd•w)	
ffllmated Total A!m!B! Di et AS&tSSment11Dueforeacll ofthe Jllatrlct'•nrit lhree (3) fi,cal yeon
c... sec11oa35 lltlow)	
				
Mldrise-5'""11-	$1150	$S3	$1203	
M:idrisc-I   '"'""O	$1250	SSJ	$1303	
•
To--,	$1350
SISOO	1S3
$l3	$1403
~-	$}S53	

DISIRICT'S FIRST TBREk  (3)  FISCAL UARS (adaal usa1mentic  may wry from the  a1D1Junts set forth  below ud    Operations  and

I!.Mtl BREAKDOWN OFESTIMATED MONl'IILY DISTRICT ASSESSMENI'S FOR EACH OF THE FIRST TIIRU (3) FISCAL

Pla"' be1:i=-"-r In sub	oa.t-·~ars based on .1tctoaI budnts adooted bvthe Dlabict\,

Eslla,atedMw!l!l!l'. Type ofl>wellbag Ullft (and Phase, If'	Dktrlct Opffl.1(ons
AppUcable)	hffl:emt:i:

&ti.mated DJstrlct Jgfnuttgclup Mt,intwnce All:!H!IJPJeuts

Estimated Dlstrfct
Capital Amlsmats

Capital -..,.1a divfded by
12)

(Estimated Amlual llimfct

YEARS (actual auessments may vary from the amounts Sd forth below and Operations •nd InftaStrllcture Mllintuaace Assess.menta

Midrise-Small
Co·... - .

$4

$0

$96

I

Midriso-	•	$4
$4	so
so	SI04
$113	
Thwnbo"""	$4	$0	$125	

/

Iultl ES'I'JMATElllNITJAt. PAY<J.ll'll' OF CAPD'AL ASSESSMENTS (does D.Gtlncl11de Interest on. the bond prlncijtal d«e thtougl:a
-   =P-IDate),INIIESTIMATEllTOTALPA  NTSIFANNUALPAYMENTSAREMADEOVERTHETERMOFTJIE

TJPeofl>welllng Uttlt (and Phast;Jf Appli,.ble)	lnftlel Estimated Prepayment Amount to Pay ofl'DweUfug Unit.'111 pro rabrahareof Disbict Bonds at
flllle Dwelllng Ualt a	(IJds
amo11nt cleclines as prm.c(pal' payments are made amur,,Dy and doaNOT       ladudelutemtlhal
may he doe throogh the - applJcable bead payn1enf date	
E,-fodTotal Capito!
Anes,nieat, ladudb>g Priaclpal qd    lotemtlfCapibl   Amuments are.Paid A.1uuullly (No .PNp.,...at) over'Ihh1y (3ll) yean:(J4thaated ADnaa1District Capital Assffimmtl times 30)	
l\lldri,e- Small
Mldrbe-	C	$16 713
$18"166	$34449
$37 498	
Co
TownbOl!>e,	$19621
$21.801	$40,500
$45000	
 	PURCHASERS INITIALS

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90/ LT/OT

The Oistrict. All of the residential dwelling units ("Dwelling Units") in the [insert name of community] (the "Development'') are also located within the bo1mdaries of the [insert name of the District] Community Development District (the "District'?. .The District is a· local unit of special-purpose government organized and existing under the laws of the State of Florida and the Home Rule Charter of Miami-Dade County, Florida and. located in Miami-Dade County ("County"). ..The primazy purpose of the District is to finance the cost of the public infrastructure of the Development which may include, without limitation, .water and sewer fucilities,·environmental mitigation, roadways, the surface water mamlgement system, utility plants and lines, land acquisition, miscellaneous utilities for the Development, as applicable, and other infrastructure projects and services necessitated by the development of land within the Development (collectively, the "Public Infrastl'ucture").
PIJRCIIASER'S JNITIALS

The District Board.  The Board  of Supervisors  of  the  District  (the "District '?	is initially elected by the landowner in the District. The Board is required to advertise . its meetings in advance and all District Board meetings are :required to be open to the public.
The District Board is required to prepare a budget each fiscal year and adopt the same in an open, public meeting. All owners of property within the District are invited to attend District Board meetings and participate in the public process.
PllRC!lASER'S IMTIAL8

District Finance and Assessments. The CU1Tent plan is for the District to issue

is

bonds to acquire, construct, reconstruct, and equip all or a portion of the Public lnftastrocture identified in Section l. Currently, it estimated that the Dwelling Units in the Development will be ·assessed based on the Capital and Administrative Assessments listed in Table I above and in Sections 3.1 and 3.4 below (if.paid in November) to retire.the debt of the District, to pay for operatiotlll of the District and maintenance of the Public Infrastructure. District assessments will either appear on the County real estate tax bill of each property located within the District and will be paid at the same time as County taxes are paid, or will be directly billed by the District. Capital assessments to repay the principal portion of the bond debt could be levied by the District for a period ofup to thirty{30) years.

PURCHASER'S INITIALS·

District Capital Assessments. The District expects to issue bonds (the "Bonds»), the principal of and interest on which will be payable from non ad valorem special . assessments ("District Capital Assessments'') levied by the District on the property within the Development, which property is found to be specially benefited by the Public Infrastructure. Each Dwelling Unit is subject to a District Capital Assessmeot to repay the bonds.
PURCIIASER.'8 INITIAI.S

Amount. The estimated amount of annual District Capital Assessments including principal and interest levied on each Dwelling Unit is expected to be approximately See Exhibit B, which som shall be payable anoually for the term of the Bonds (the principal repayment period may not exceed thirty (30) years). The aggregate amount of District Capital .

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t8tZ SLC soc XVil tz=rr lli1L 90/LT/OT

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Assessments including principal and interest ·expected to be levied and imposed on each Dwelling Unit over the tenn of the Bonds 30 Years is approximately SEE CHART ABOVE.
 	 PURCHASER'S INITIALS

Prepay Option. Each owner of a Dwelling Unit has the option of prepaying the aggregate amount of District Capital Assessments levied on the owner's Dwelling Unit. The prepayment amoWlt at any_ time will be eqnal to the.remainillg ontstanding pro rata share of principal and interest due through the next applicable payment date dne on the bonds fur each Dwelling Unit. Such prepayment amount will decline each year as the District Capital Assessments are paid.	·

 	 PURCHASER'S INITIALS

District Administrative Assessments. In addition to District Capital Assessments, the District will impose an anoual non ad valorem assessment to fund District operations and maintenance of its Public Infrastructure (collectively, ''District .AdminMrative Assessments"). Each Dweliing Unit shall be subject to District Administrative Assessments. The budget from which District Administrative Assessments are derived is subject to change each year, and may vary from year to year and from time to-time. During each of the fust three
(3) fiscal years of the District, it is anticipated that District Administrative Assessments for the Dwelling Unit will be approximately $53 per year per Dwelling Unit, after which time such assessments may vary from year to year and from time to time.·
 	 PURCBASER'SJNl11ALS

District Assessments, District Administrative Assessments together witlt District Capital Assessments shall comprise the "District Assessments." While the District Assessments are not taxes under Florida law, tlte District Assessments will constitute a lien
'· .		coequal witlt the lien of State, County, Municipal, and School Board taxes, and are expected to appear on the ad valorem tax bill sent each year by the Miami-Dade County Tax Collector. The Homestead Exemption is not applicable to the District Assessments. ·Because a tax bill cannot be paid in part, failure to pay the District Assessments or any other portion of the tax bill will result in the sale of tax certificates and could ultimately result in the loss of title to the Dwelling Unit of the delinquent taxpayer through the issuance of a tax deed. If billed directly by the District, nonpayment could result in foreclosure on and loss of title to the Dwelling Unit.
 	 PIJRCIIASER'SINITIALS

PURCHASER:	PURCHASER:

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Print Name:
Date:------------

Print Name: 	_ Date: 	_

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