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WARNING FOR CALIFORNIA RESIDENTS THE CALIFORNIA BUREAU OF REAL ESTATE HAS NOT QUALIFIED, INSPECTED, OR EXAMINED THIS OFFERING, INCLUDING, BUT NOT LIMITED TO, THE CONDITION OF TITLE, THE STATUS OF BLANKET LIENS ON THE PROJECT (IF ANY), ARRANGEMENTS TO ASSURE PROJECT COMPLETION, ESCROW PRACTICES, CONTROL OVER PROJECT MANAGEMENT, RACIALLY DISCRIMINATORY PRACTICES (IF ANY), TERMS, CONDITIONS, AND PRICE OF THE OFFER, CONTROL OVER ANNUAL ASSESSMENTS (IF ANY), OR THE AVAILABILITY OF WATER, SERVICES, UTILITIES, OR IMPROVEMENTS. IT MAY BE ADVISABLE FOR YOU TO CONSULT AN ATTORNEY OR OTHER KNOWLEDGEABLE PROFESSIONAL WHO IS FAMILIAR WITH REAL ESTATE AND DEVELOPMENT LAW IN THE STATE WHERE THIS SUBDIVISION IS SITUATED. Lot _____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the community known as Latitude Margaritaville at Daytona Beach. PURCHASER: PURCHASER: Name: Name: Date: Date:

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LATITUDE MARGARITAVILLE AT DAYTONA BEACH

DISCLOSURE SUMMARY

1. AS A PURCHASER OF PROPERTY IN THIS COMMUNITY, YOU WILL BE OBLIGATED TO BE A MEMBER OF A HOMEOWNERS’ ASSOCIATION: LATITUDE AT DAYTONA BEACH HOMEOWNERS ASSOCIATION, INC. (“ASSOCIATION”).

2. THERE HAVE BEEN OR WILL BE RECORDED RESTRICTIVE COVENANTS GOVERNING THE USE AND OCCUPANCY OF PROPERTIES IN THIS COMMUNITY.

3. YOU WILL BE OBLIGATED TO PAY ASSESSMENTS TO THE ASSOCIATION: ASSOCIATION ASSESSMENTS MAY BE SUBJECT TO PERIODIC CHANGE. IF APPLICABLE, THE CURRENT AMOUNT OF ASSOCIATION ASSESSMENTS IS $793.96 PER QUARTER OR $3175.84 PER YEAR FOR HOMES ON 60’ LOTS, THE CURRENT AMOUNT OF ASSOCIATION ASSESSMENTS IS $778.96 PER QUARTER OR $3115.84 PER YEAR FOR HOMES ON 50’ LOTS, AND THE CURRENT AMOUNT OF ASSOCIATION ASSESSMENTS IS $868.13 PER QUARTER OR $3472.52 PER YEAR FOR PAIRED VILLAS OR ATTACHED HOMES. YOU WILL ALSO BE OBLIGATED TO PAY ANY SPECIAL ASSESSMENTS IMPOSED BY THE ASSOCIATION. SUCH SPECIAL ASSESSMENTS MAY BE SUBJECT TO CHANGE. IF APPLICABLE, THE CURRENT AMOUNT IS $N/A PER N/A.

4. YOU MAY BE OBLIGATED TO PAY SPECIAL ASSESSMENTS TO THE RESPECTIVE MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT. ALL ASSESSMENTS ARE SUBJECT TO PERIODIC CHANGE.

5. YOUR FAILURE TO PAY SPECIAL ASSESSMENTS OR ASSESSMENTS LEVIED BY A MANDATORY HOMEOWNERS’ ASSOCIATION COULD RESULT IN A LIEN ON YOUR PROPERTY.

6. THERE MAY BE AN OBLIGATION TO PAY RENT OR LAND USE FEES FOR RECREATIONAL OR OTHER COMMONLY USED FACILITIES AS AN OBLIGATION OF MEMBERSHIP IN THE HOMEOWNERS’ ASSOCIATION. IF APPLICABLE, THE CURRENT AMOUNT IS $N/A PER N/A.

7. THE DEVELOPER [SELLER] MAY HAVE THE RIGHT TO AMEND THE RESTRICTIVE COVENANTS WITHOUT THE APPROVAL OF THE ASSOCIATION MEMBERSHIP OR THE APPROVAL OF THE PARCEL OWNERS.

8. THE STATEMENTS CONTAINED IN THIS DISCLOSURE FORM ARE ONLY SUMMARY IN NATURE, AND AS A PROSPECTIVE PURCHASER, YOU SHOULD REFER TO THE COVENANTS AND THE ASSOCIATION GOVERNING DOCUMENTS BEFORE PURCHASING THE PROPERTY.

9. THESE DOCUMENTS ARE EITHER MATTERS OF PUBLIC RECORD AND CAN BE OBTAINED FROM THE RECORD OFFICE IN THE COUNTY WHERE THE PROPERTY IS LOCATED, OR ARE NOT RECORDED AND CAN BE OBTAINED FROM THE DEVELOPER [SELLER].

THIS DISCLOSURE SUMMARY MAY BE EXECUTED IN COUNTERPARTS, A COMPLETE SET OF WHICH SHALL FORM A SINGLE DISCLOSURE SUMMARY.

PURCHASER: PURCHASER: Name: Name: Date: Date:

PURCHASER: PURCHASER:

Name: Name: Date: Date: SELLER: MINTO COMMUNITIES, LLC, a Florida limited liability company

By: Name: Title: Date:

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CGC 1519880

Purchase Agreement Latitude Margaritaville

at Daytona Beach

THIS IS A LEGALLY BINDING AGREEMENT. IF NOT FULLY UNDERSTOOD SEEK COMPETENT LEGAL ADVICE. NO WARRANTIES OR REPRESENTATIONS, OTHER THAN THOSE SPECIFIED IN THIS AGREEMENT, ARE EXPRESSED OR IMPLIED. ORAL REPRESENTA-TIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF SELLER. FOR CORRECT REPRESENTATIONS, REFERENCE SHOULD BE MADE TO THIS AGREEMENT AND THE DOCUMENT BOOK PROVIDED TO YOU, IF ANY.

In this purchase agreement (“Agreement”), the words “I,” “me,” “mine” and “Purchaser” mean the purchaser(s) listed below who have signed this Agreement. The words “you,” “your” and “Seller” mean Minto Communities, LLC (“Minto”). “We” and “our” mean all parties to this Agreement.

Purchaser Purchaser Street Address City State Zip

By providing my telephone number(s) and e-mail address(es), I hereby consent to receiving telephonic and electronic communications, including advertisements, made or sent by or on behalf of you and/or your affiliates and related companies. Home Telephone Cellular Telephone E-Mail Address Date of this Agreement

This Agreement contains our respective legal rights and obligations concerning the sale by you and purchase by me of the real property identified below. I understand that this Agreement is intended to be legally enforceable and binding upon each of us.

I HAVE NOT RELIED UPON ANY ORAL REPRESENTATIONS WHICH YOU HAVE MADE, BUT HAVE SOLELY RELIED UPON THIS AGREEMENT AND THE OTHER “COMMUNITY DOCUMENTS” (AS HEREINAFTER DEFINED) WHICH YOU HAVE DELIVERED TO ME.

1. PURCHASE AND SALE

I agree to buy and you agree to sell to me, on the terms set forth in this Agreement, the following described property located within the Plat of Latitude at Daytona Beach Phase 1 _____, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the Community known as Latitude Margaritaville at Daytona Beach, together with the improvements constructed or to be constructed on it.

Model Type: Subdivision: Lot/Block/Parcel: Address: City, State, Zip Code: and as shown on the approved site plan for Latitude Margaritaville at Daytona Beach on file with Volusia County, Florida and/or the City of Daytona Beach.

The above-referenced property and improvements constructed or to be constructed thereon are referred to in this Agreement as the “Property” and are located within the community known as Latitude Margaritaville at Daytona Beach (the “Community”). The Property is described in greater detail in the site plan of the Community which I have previously received and/or which were made available to me.

The total purchase price (“Total Purchase Price”) for the Property, exclusive of any Closing Costs as described in Paragraph 11 will be as follows: Base Purchase Price $ Lot Premium $ Elevation Premium $ Pre-Selected Options $ $

Total Purchase Price $ I agree to make the following payments to you:

Payment Due Date Amount Initial Deposit $ Additional Deposit $ $ $ Balance Due at closing of title (hereinafter referred to as the “Closing”) subject to prorations and adjustments set forth in this Agreement

$

Total $ All of the foregoing pre-closing payments are collectively called the “Deposits.” I agree to make all Deposits in cash or by check in the amounts and on the dates described above. Any funds paid by me under the terms of this Agreement to you through a check are accepted by you subject to collection I acknowledge that you shall have the right to deposit any check for the Initial Deposit without such action being deemed acceptance of this Agreement. If any such check is not paid after acceptance of this Agreement, you shall have the right and option to cancel the Agreement and declare me in default. The balance payable at Closing must be paid by wire transfer of U.S. funds to an account designated by you; official checks, cashier’s checks, bank checks or personal checks will not be accepted.

2. Completion Date

You expect to complete construction of the Property by ______________________ (“Estimated Completion Date”). The Estimated Completion Date is your present estimate and, except as otherwise set forth in this Paragraph 2, is neither a representation nor a warranty that construction of the Property will be completed by such date. The Property may be completed prior to or after the Estimated Completion Date. The Estimated Completion Date is not a guaranteed date and I shall have no recourse against you for failure to achieve such date. I acknowledge and agree that I have not relied and will not rely upon the Estimated Completion Date for any purpose whatsoever including, without limitation, relocation of residence, storage of personal property, or lock-in financing, and I agree that you shall not be liable for any additional costs, expenses or damages whatsoever should the Property not be completed by the Estimated Completion Date.

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3. Deposit

In the event the Deposit exceeds ten percent (10%) of the Total Purchase Price, the following provision shall be applicable, subject to and without limiting the unconditional nature of the obligations and provisions of Paragraph 2 of this Agreement: I acknowledge, understand and agree that (i) you may not apply for or obtain all permits necessary to construct the Property within thirty (30) days from the execution of this Agreement and (ii) you may not commence work on the Property within ninety (90) days of the issuance of such permits, provided however, you shall apply for or obtain such permits within one (1) year after the date of this Agreement (the “Permit Issuance Date”) and you shall commence work no later than one (1) year from the Permit Issuance Date. I acknowledge and agree that the foregoing shall constitute an extension of the time limitations set forth in Section 489.126 of the Florida Statutes. Notwithstanding the foregoing, the time periods set forth in this Paragraph 3 may be delayed by events constituting acts of God or impossibility of performance under Florida law, and such dates shall be extended by the delay period.

Purchaser’s Initials _____ _____

4. Use of My Deposits

State law requires that the following statement be disclosed to purchasers of residential homes.

THE BUYER OF A ONE-FAMILY OR TWO-FAMILY RESIDENTIAL DWELLING UNIT HAS THE RIGHT TO HAVE ALL DEPOSIT FUNDS (UP TO TEN PERCENT (10%) OF THE TOTAL PURCHASE PRICE) DEPOSITED IN AN ESCROW ACCOUNT. THIS RIGHT MAY BE WAIVED, IN WRITING, BY THE BUYER.

(i) WAIVER: Purchaser’s Initials _____ _____ I hereby waive my rights under Section 501.1375 of the Florida Statutes to have all Deposits, up to ten percent (10%) of the

Total Purchase Price, deposited in an escrow account.

(ii) NON-WAIVER: Purchaser’s Initials _____ _____ I am electing to have all deposit funds, up to ten percent (10%) of the Total Purchase Price, deposited in an escrow account. The Deposits will be held by you in escrow with Salem Trust Company, 1715 N. Westshore Boulevard, Suite 750, Tampa, Florida 33607 (“Escrow Agent”). I understand that, in accordance with Florida law, you may withdraw the Deposits from escrow for use as construction funds, upon the acquisition of a surety bond. I will be debited at Closing in an amount equal to the premium for the applicable portion of the surety bond securing my Deposits. In the event you are unable to obtain a surety bond, I further understand that under Florida law you will have the right to borrow the construction funds in an amount equal to the funds held in escrow for construction purposes only, in which case you will have the right to charge me an amount to be paid at Closing equal to any interest which you pay on such loan for a period not to exceed twelve (12) months, which amount shall be reduced by the interest earned on my Deposits held in escrow.

The Escrow Agent will disburse all interest earned on the Deposits to you at Closing and the same shall not be credited against the Total Purchase Price. If there is a termination of this Agreement which is not due to my having defaulted, then all interest shall be paid to me. The Escrow Agent shall not be responsible to me for any payment of interest that may be owed to me under the terms of this Agreement. I agree to look solely to you for any interest that may be due or owing to me under the terms of this Agreement. No amendment to this Agreement which in any way affects the rights, duties and responsibilities of the Escrow Agent shall be effective without the written consent of the Escrow Agent, which consent shall not be unreasonably withheld.

5. Construction Financing

You may borrow money from your own lender to develop and construct the Community and/or Property. I agree that any lender advancing funds will have a first mortgage on the Property until Closing. At that time, you may use all of the Closing proceeds to release the Property from the lien of the construction mortgage. Because of this, my rights under this Agreement are subordinate and inferior to the lien of any mortgage given by you, including mezzanine and any other forms of financing, which affects the Property, including any amendments, modifications, renewals, consolidations and extensions of the mortgage, mezzanine and other forms of financing, whether or not such mortgage, mezzanine and other forms of financing secures the advancement of construction funds and even if such mortgage, mezzanine and other forms of financing are placed of record and encumber the Property after the date of this Agreement. Such mortgages as well as notices of commencement shall not constitute objections to title, it being understood that the Property will be released from such mortgages and notices of commencement utilizing the proceeds from Closing. Notwithstanding anything to the contrary contained in this Agreement, I agree that neither this Agreement, nor my making the Deposit(s) (and/or your use of the Deposit(s) as permitted under this Agreement) will give me any lien, equitable or otherwise, or claim against the Property, and I knowingly, fully and unconditionally waive and release any right to assert such lien or claim. I hereby acknowledge and agree that (i) any and each of your lenders is an express third party beneficiary of this Paragraph 5, and (ii) this Paragraph 5 and the rights of any and each of your lenders under this Paragraph 5 shall survive any termination, rescission, or other voiding of this Agreement, and any default by you under this Agreement.

6. Construction Specifications

a. You reserve the right (i) to position the home in the location you deem, in your sole and absolute discretion, acceptable provided such positioning complies with applicable governmental regulations, and/or (ii) to make variations to the site plan based upon constraints applicable to the lot. The materials, equipment and fixtures included in and to be used in constructing the Property will be substantially the same as or similar in quality, as determined by you in your discretion, to those described in the applicable plans and specifications and in the model (except as to extras, options and/or upgrades), if a model has been constructed. You have the absolute right to make modifications to the plans and specifications. Without limiting the generality of the foregoing, I specifically agree that changes in the dimensions of rooms, patios, balconies, terraces and entrances, if applicable, and changes in the locations of windows, doors, walls, partitions, utility lead-ins, air-conditioning components, and electrical panel boxes as well as the quantity and location of electrical outlets, cable outlets, telephone outlets and lighting fixtures may be made by you without prior notice to me. Such changes may also include, but are not limited to, changes in the building location, setbacks and facing, the building’s external configuration, its structural components, its finishes and the landscaping associated therewith. I further understand and acknowledge that many of the homes to be constructed within the Community require floor plans which are opposite (“flipped”) mirror images of the model (if any) and/or floor plans and I fully understand and accept that the floor plan configuration for the Property may be a mirror image of the model (if any) and/or floor plans. Lot grades, lot area, options, facades, shrubs, trees, trim, built-ins, wall treatments, window treatments, furniture, furnishings, fences, decks, location of walks, driveways, and other items in or about a model home area, if any, are for display purposes only and are not included in the Total Purchase Price unless otherwise expressly provided in this Agreement. I further understand and agree that the following items (which may be seen in models or shown in illustrations) may not be included in the sale of the Property: wall coverings, paint colors, accent light fixtures, wall ornaments, drapes, blinds, bedspreads, furniture, furnishings, wet bars, monitoring systems, certain built-in fixtures, special floor coverings, wood trim, upgraded landscaping and other items. This list of items (which is not all-inclusive) is provided as an illustration of the type of items built-in or placed upon models or shown in illustrations strictly for purposes of decoration and example only. If I am in doubt about what items are included and what items are not included, it is my responsibility to ask you for clarification. In addition, notwithstanding anything to the contrary contained in this Agreement, you do not guarantee that any particular vehicle will be able to fit into a garage, if any.

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b. You may make reasonable modifications and substitute materials, equipment and fixtures with items which are, in your sole opinion, of substantially equal or better quality. I understand that carpeting, cabinets, countertops, floor tile, paints, appliances and other items may be of a different brand, color, quality or grade than shown in the specifications or the models. I further understand and agree that certain finishing items, such as tile, marble, carpet, cabinets, stone, brickwork, wood, paint, stain and mica are subject to size and color variations, grain and quality variations, and may vary in accordance with price, availability, and changes by manufacturers from those shown in the model, if any, or in illustrations or brochures or those included in the specifications.

c. Any changes or optional items which I may request must be authorized by you in writing and I must pay for them in advance. If you fail to make the changes or supply the optional items, you will refund to me the amount that I paid for the item or change and you will have no further responsibility for such change or option. The omission of an option or change shall not give me the right to terminate this Agreement or otherwise require you to install or provide the omitted option or change, nor will it give rise to any legal claim.

d. I acknowledge and understand that the plans and specifications on file for the Property with applicable governmental authorities may not be identical to your plans and specifications because your construction requirements may result in changes (there being no legal requirement to file all changes with such authorities).

e. I shall select colors, features and materials in accordance with the Option Selection Addendum. If I am purchasing within a multi-family community, I agree you will make all exterior color and elevation selections. In the event I am purchasing within a single-family community, I agree that until the color selection cut off date I can request one of the color schemes that you make available for the Property that I am purchasing. The selection cut off date will be determined solely by you and may, in fact, have already passed when this Agreement is signed; in which case I will have no option to request an exterior color scheme. I understand that even where the request is timely made, you may in your sole discretion determine to apply another color scheme as you deem desirable for the overall aesthetics of the community, and such a change will not give me the right to terminate this Agreement, nor give rise to any other legal claim.

f. I understand, acknowledge and agree that sound transmission in a building containing attached homes is very difficult to control, and that noises from adjoining or nearby units/homes and or mechanical equipment can often be heard in other units/homes. I understand that you do not make any representations or warranty as to the level of sound transmission between and among units/homes, and I hereby waive and expressly release any such warranty and claim for loss and damages resulting from sound transmission.

7. Damage Before Completion

If the Property is damaged by fire, natural disaster, or other casualty (each a “Casualty”) after this Agreement takes effect, but before Closing, you assume the risk of loss and you will be financially responsible for the loss, and this Agreement shall continue in full force and effect and I shall not have the right to reject title or receive a credit or abatement in the Total Purchase Price. You will have a reasonable time to complete repairs subject to your obligation to complete construction of the Property pursuant to Paragraph 2 of this Agreement. The work will be judged by the same standards used to evaluate new construction. Any money you receive in settlement of the damage (insurance, etc.) will belong to you. If I receive any money in connection with the damage, I will turn it over to you.

Risk of loss to the Property by Casualty from and after Closing is assumed by me. I am aware that the Property, however well constructed, may be subject to damage or destruction by naturally occurring events such as hurricanes and sinkholes. While you have no knowledge of sinkholes or naturally occurring gases such as radon in the immediate vicinity of the Property, all risks associated with all natural occurrences shall be borne by me from and after Closing.

8. Closing Date

I understand that you have the right to schedule the date, time and place for Closing, at offices to be selected by you. I will be given an opportunity to inspect the Property with your representative prior to Closing (the “New Home Celebration”, commonly referred to as a pre-closing walkthrough). I acknowledge, understand and agree that the New Home Celebration must be completed at least two (2) business days prior to Closing.


I will receive at least seven (7) days’ notice of the Closing date, time and place. You are authorized to postpone the Closing in your sole discretion, but if you do, you must give me at least seven (7) days’ notice of the new date. In the event certain items in the Property are not completed or are deficient in workmanship or materials in your opinion (in accordance with construction standards for a similar home in Volusia County, Florida) prior to Closing, but which items do not impact completion of the Property as described in Paragraph 24 and as required by Paragraph 2, such will not be grounds for deferring the Closing and you will complete and/or correct such items, if appropriate, within a reasonable time after Closing, and I shall have no right to require escrows or hold backs of any portion of the Total Purchase Price or to impose any conditions on the Closing.

If I fail to close the transaction contemplated by this Agreement, you may elect to hold me in default or to re-schedule the Closing. If the Closing is rescheduled, I agree that all prorations and all expenses, including but not limited to taxes, maintenance fees, and interest at the highest lawful rate permissible on the sums which I would have been required to pay on the original Closing date, will be calculated as of the date originally set for Closing.

Notwithstanding the foregoing, if I elect to obtain financing for the purchase of the Property pursuant to Paragraph 16 of this Agreement and the requirements of Paragraph 16 are otherwise satisfied but funds from my Lender are not available on the date of Closing due to the Consumer Financial Protection Bureau Closing Disclosure delivery requirements (“CFPB Requirements”), then the Closing shall be extended for such period necessary to satisfy CFPB Requirements, provided, however, such extension shall not exceed ten (10) days, and provided, further, that all prorations and expenses shall be calculated as of the original date of Closing as provided above.

9. Closing of Title

I have the right to use a title company of my choosing in connection with the purchase of the Property. Title to the Property will be conveyed by special warranty deed (“Deed”), and will be marketable and insurable, subject to the matters set forth below and other matters of record which will not render title to the Property other than marketable (collectively, the “Permitted Exceptions”):

a. Real estate taxes and other taxes and assessments for the year of conveyance and subsequent years including, without limitation, taxes or assessments for any special taxing district, municipal service taxing unit, municipal service benefit unit, special assessment district, improvement district, or community development district (inclusive of assessments for capital improvements and bonds).

b. Zoning, building codes, ordinances, regulations, rights or interests vested in the United States of America or in the State of Florida, and other restrictions or prohibitions imposed by governmental authority.

c. The restrictions, covenants, conditions, easements, terms and other provisions imposed by the Declaration of Covenants, Conditions, Restrictions and Easements for Latitude Margaritaville at Daytona Beach (“Declaration”) and all related documents, all as

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amended, supplemented and modified from time to time, recorded or to be recorded in the Public Records of Volusia County, Florida (collectively, the “Community Documents”).

d. Liens for public improvements, if any.

e. Any mortgage executed or assumed by me that encumbers my Property.

f. Any other restrictions, covenants, conditions, limitations, easements, or other matters common to the Community recorded in the Volusia County Public Records. This shall include, without limitation, property use limitations, maintenance assessments, or rights-of-way for utilities or other services, utility easements, sewer agreements, telephone agreements, cable agreements, telecommunications agreements, covenants, conditions, limitations, restrictions, deed restrictions, easements and reservations and plat(s) affecting the Property.

g. All standard printed exceptions contained in an ALTA owner’s title insurance policy issued in Volusia County, Florida.

If you cannot provide marketable and insurable title as described above, you will have a reasonable time (at least sixty (60) days) to attempt to correct any defects in title, provided, however, subject to the provisions of Paragraph 2, you shall not be obligated to incur any expense to clear title to the Property. If you cannot correct the title defects, you shall notify me within such period, and I shall have two options:

1. I may accept the title in the condition you offer it (with defects) and pay the full Total Purchase Price for the Property without setoff or deduction therefore. If I elect this option, I will not make any claims against you because of the defects; or

2. I may cancel this Agreement and receive a full refund of my Deposits. If my Deposits are refunded, I agree to accept them as full payment of your liability to me. I will not make and shall not have any additional claims against you.

Notwithstanding the foregoing, in no event shall your ability to provide marketable and insurable title relieve you of your unconditional obligation to complete the Property in accordance with Paragraph 2 of this Agreement.

At the same time I receive my Deed, I agree to pay the balance of the Total Purchase Price and any additional amounts I owe under this Agreement. Notwithstanding anything in this Agreement to the contrary, title to the Property shall conclusively be deemed marketable if you are able to deliver an ALTA owner's title insurance policy insuring my marketable title to the Property, subject to the Permitted Exceptions. My acceptance of the Deed shall be deemed to be full performance and discharge of every agreement and obligation on your part to be performed pursuant to this Agreement, except those which are herein specifically deemed to survive Closing or which may survive by operation of law (if any).

In the event I elect to obtain title insurance from a title company other than Founders as provided in Paragraph 16 below, I shall be solely responsible for obtaining a title commitment, and my failure to obtain or timely obtain a title commitment shall not relieve me of my obligation to close on the purchase of the Property pursuant to the terms of this Agreement.

10. Association Membership

a. Membership. I understand and agree that upon conveyance and recording of the Deed, I will then become a member of the association for the Community, Latitude at Daytona Beach Homeowners Association, Inc. (“Association”). I agree to accept all liabilities and obligations of such membership. I understand that as a member of the Association, I will be required to pay assessments for, among other things, the maintenance of the common areas of the Community, and for such other uses and purposes as are provided for in the Community Documents. I also understand and agree that a failure to pay assessments when due could cause the Association to record a lien on the Property and to foreclose on such lien.

b. Initial Officers and Directors. I acknowledge that your nominees shall serve as the initial officers and directors of the Association, and I authorize such nominees to act for and on behalf of the Association including entering into any and all agreements as are provided for in or contemplated by the Community Documents and their exhibits. I also acknowledge that the provisions of the Community Documents are fair and reasonable.

11. Closing Costs

I understand and agree that in addition to the Total Purchase Price of the Property, I must pay certain other fees and “Closing Costs” when I accept ownership at the Closing. All references to prorations or pro rata shares will be deemed a time proration based on the date of Closing, with me paying amounts accrued on and after the date of Closing. Closing Costs include, but are not limited to:

a. All costs associated with my mortgage, if applicable. These include, but are not limited to, documentary stamps, mortgagee title insurance, intangible taxes, recording fees, loan fees, points, discounts, and any and all other costs of obtaining the loan.

b. All title search fees and all other title Closing expenses.

c. A fee of $350 for the preparation of a survey for the Property.

d. The cost of recording any mortgage releases along with surcharges and taxes (if any) to be affixed to the Deed.

e. The costs associated with the recording of the Deed.

f. The State documentary stamp tax on the Deed.

g. The title insurance premium for the Owner's Title Insurance Policy; the title insurance premium for the Owner’s Title Insurance Policy and lender’s policy, if any, will be calculated and allocated in accordance with Florida law, but may be reported differently on certain closing disclosures and closing documents mandated by federal law.

h. All additional costs due to or arising out of changes imposed by any governmental authority. I acknowledge that the applicable building codes may change after the date of this Agreement in a way that would require the plans and specifications for construction to be modified. I agree to pay to you, at the Closing, the cost of any modifications required to be made as a result of any such changes in the applicable building codes.

i. Utility deposits or other charges advanced by you on my behalf.

j. The cost of any obligation I have incurred not provided for in this Agreement.

k. Pending liens for any public improvements.

l. County and/or district special assessments for the maintenance of water and sewer infrastructure serving the Community and Property, if any.

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m. Expenses of the Property (for example, taxes, assessments, maintenance charges, monthly and other assessments to one or more homeowners’ associations) will be prorated between us at Closing. If real estate taxes for the year in which the Closing occurs are assessed in the aggregate on the real estate comprising the portion of the Community (including the Property) rather than on a homesite-by-homesite basis, you will pay such taxes in full when due, but I will reimburse you at the Closing for my pro rata share of such taxes from the Closing date (if such taxes are then known) or the Property’s allocable share (so prorated) of your estimate of those taxes (if such taxes are not then known), subject to readjustment at either the written request of you or me within six (6) months from when the actual tax bill is known. If taxes for the year in which the Closing occurs are assessed on a homesite-by-homesite basis but such taxes are not due on the Closing date, I will be responsible for paying such tax bill in full when due but you will reimburse me at the Closing for your pro rata share of such taxes (if the taxes are then known) or your estimate of those taxes (if such taxes are not then known) through the Closing date, subject to readjustment at either the written request of you or me within six (6) months from when the actual bill is known. If the Closing takes place after you have paid the taxes for the year in which the Closing occurs, I will reimburse you at the Closing for my pro rata share of those taxes from and after the Closing date. This subparagraph shall survive the Closing.

n. The Latitude at Daytona Beach Foundation Fee, as provided in the Declaration.

o. The cost of any obligations I incur not provided for in this Agreement.

p. Any other expenses of an owner of the Property provided for or referenced in the Community Documents.

q. Amounts reflected in the Disclosure Statement attached to and made a part of this Agreement.

Notwithstanding anything in this Agreement to the contrary, in the case of a Fannie Mae, FHA or VA loan, if such financing is available, I shall not pay for any costs prohibited by Fannie Mae, FHA or VA regulations.

12. Other Duties

I shall have no right to take possession of the Property until I have paid the Total Purchase Price and other expenses stated in this Agreement and have signed all necessary Closing papers.

13. Default

a. Purchaser’s Default. If I fail to perform any duties or obligations under this Agreement (including, but not limited to, making scheduled Deposits and Closing when required) I will be in “default.” I will also be in default if I indicate an intent not to perform any duties required by me under this Agreement, or otherwise take any action which would constitute a repudiation of this Agreement. In the event of a default or breach of this Agreement by me, you will give me written notice of such default or breach and the opportunity to remedy such default or breach within twenty (20) days after the date of my receipt of such notice. If I am still in default twenty (20) days after my receipt of written notice thereof, you shall be entitled to the remedies provided herein.

Upon my default and expiration of any cure period as provided above, I understand that all my rights under this Agreement will end and you can terminate this Agreement and resell the Property without any accounting to me. I understand that since you have taken the Property off the market and spent money on sales, advertising and promotion, my default will damage you. As compensation for this damage, I authorize you to keep any Deposits and any and all payments made by me for options, extras or upgrades (such as customized work, optional items or nonspecified materials) as liquidated damages and not as a penalty. I agree that actual damages in the event of my default would be costly and difficult to calculate and there is no other precise method of determining your damage, and that such liquidated damages are fair and reasonable and shall not be considered a penalty. You agree not to take any other action against me because of my default. Any damage or loss that occurs to the Property prior or subsequent to my default will not affect your right to retain my Deposits as damages. Notwithstanding the foregoing and/or anything to the contrary in this Agreement, if I lose rights and interest in the Property as a result of a default or breach of contract or agreement which occurs after I have paid fifteen percent (15%) of the Total Purchase Price, excluding any interest owed under this Agreement (if any), you shall refund to me any amount which remains after subtracting (A) fifteen percent (15%) of the Total Purchase Price, excluding any interest owned under this Agreement (if any), or the amount of damages incurred by you as a result of such default or breach, whichever is greater, from (B) the amount paid by me with respect to the Total Purchase Price, excluding any interest paid under this Agreement (if any). For purposes hereof, damages incurred by you means the actual damages resulting from my default or breach, as determined by the law of the jurisdiction governing this Agreement.

b. Seller’s Default. In the event you fail to perform your duties under this Agreement, you shall be in “default.” If you are still in default twenty (20) days after I send you notice thereof (or such longer time as may reasonably be necessary to cure the default if such default cannot be reasonably cured within twenty (20) days), I shall have the right to receive the refund of my Deposits and, in addition, I may recover actual damages, but shall not be entitled to special, consequential or punitive damages.

14. Litigation

Without limiting the provisions of Paragraph 19(m) of this Agreement and to the extent not otherwise provided in the Warranty with respect to Warranty Claims (as defined in Paragraph 19(m) of this Agreement), if either party institutes litigation that arises directly, indirectly or in connection with this Agreement, the prevailing party will be entitled to recover its reasonable attorneys' fees, paraprofessional fees and costs incurred, pretrial, at trial and at all levels of proceedings, including through any appeals, and including attorneys’ fees and costs incurred in litigating entitlement to attorneys’ fees and costs, as well as determining or quantifying the amount of recoverable attorneys’ fees and costs. Any litigation brought in connection with this Agreement must be brought in the Circuit Court for Volusia County, Florida. This Paragraph shall survive the Closing or termination of this Agreement.

15. Your Use of the Community

As long as you own any portion of the Community, you and your agents may maintain sales offices and models within the Community to assist you in selling or renting properties in the Community and may maintain signs and advertisements to assist in sales and rentals.

16. Method of Financing and Title Company

I understand that I have the right to select and use a lender and title insurance company of my choosing in connection with the purchase of the Property, and I understand that I am not required to use your affiliated title insurance company or any specific or specified lender or title insurance company. I may elect to use Founders Title, a title company you are affiliated with, and, if the purchase of the Property will be financed, Purchaser may elect to use a lender listed on the Approved Lender Addendum (each an “Approved Lender”). I understand that you are affiliated with Founders Title but you are not affiliated with any Approved Lender.

I understand that in order to assure that title work is commenced promptly, I must select the title company and advise you of my selection either simultaneously with my execution of this Agreement or within twenty-one (21) days of the date of this Agreement. By checking a box and initialing a space below, I acknowledge receipt of the Affiliated Business Arrangement Disclosure Statement disclosing your affiliation and business relationships with Founders Title.

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I hereby elect the following:

(i) I elect to use Founders Title and an Approved Lender Purchaser’s Initials _____ _____

(ii) I intend to purchase the Property without financing (i.e. Purchaser will not obtain financing from any Lender), but I elect to use Founders Title


(iii) I elect to use Founders Title, but I elect to use a lender other than an Approved Lender Purchaser’s Initials _____ _____

(iv) I elect to use an Approved Lender, but I elect to use a title company other than Founders Title


(v) I elect to use a title company other than Founders Title and I elect to use a Lender other than an Approved Lender


(vi) I shall notify you within twenty-one (21) days of my execution of this Agreement of my election of option (i), (ii), (iii), (iv), or (v) by delivering to you the Election Form Amendment attached hereto. If I do not notify you of my selection within twenty-one (21) days, I understand that you will proceed as though I am obtaining title insurance through a title company other than Founders Title and obtaining financing from a Lender other than an Approved Lender; provided, however, this does not limit my right to select alternative providers subject to my compliance with the terms of this Agreement.


a. Mortgage Loan/Cash Transaction.

If this box is checked, I desire to obtain financing for the purchase of the Property.


If this box is checked, this is a cash transaction and not contingent on financing. I understand and agree that I will be obligated to pay “all cash” at Closing. I agree to provide you within three (3) calendar days from the date of my execution of this Agreement bank statements or statements from another financial institution verifying my ability to purchase the Property with cash. If I fail to provide the required financial statements or if I do not (based on the documentation provided by me to you) have the financial ability to purchase the Property with cash, then I shall be deemed to be in default under this Agreement. I further understand, acknowledge and agree that in the event I do obtain financing for all or a portion of the Total Purchase Price, any terms and conditions imposed by my lender and/or by the CFPB Requirements shall not affect or extend my obligation to close or otherwise affect any terms or conditions of this Agreement.


b. Mortgage Lender. I understand that if I elect to seek financing for the purchase of the Property from an Approved Lender or another qualified institutional lender of my choice (collectively, “Lender”), this Agreement is contingent upon my obtaining a loan commitment for a first mortgage loan within thirty (30) days from the date of this Agreement as provided in Paragraph 16(d) below. This contingency is subject to my applying for financing from a Lender. At the time of signing this Agreement or the Election Form Amendment, whichever is later, I will provide you with a duly executed application for a mortgage loan (the “Loan”) at the prevailing rate of interest at the time of Closing and upon such other terms and conditions as are determined by Lender. In the event I choose to apply for financing from a Lender other than an Approved Lender, at the time of signing this Agreement or the time of signing the Election Form Amendment, whichever is later, I also agree to provide you with the name, address and phone number of the Lender, the loan officers, and the loan processor. I understand that this entity need not be the Lender from which I ultimately obtain financing. Whether I choose to apply for financing from an Approved Lender or another Lender in compliance with this Paragraph, I acknowledge that the rate of interest is established by Lender and not by you, and that any predictions or representations of present or future interest rates which may have been contained in any advertising or promotion by you are not binding. Although you may make available to me the name of one or more lenders or information about one or more financing alternatives, I agree that the choice of a lender and loan is my sole decision, and you have not made any promises or representations concerning the likelihood of my obtaining a loan, the terms and conditions of such loan, or the interest rate or fees associated with such loan. I UNDERSTAND, ACKNOWLEDGE AND AGREE THAT INTEREST RATES, LOAN FEES, AND OTHER LOAN CONDITIONS ARE NOT GUARANTEED, FIXED OR ESTABLISHED (AND YOU MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO SUCH ITEMS) AND ARE SUBJECT TO CHANGE BY ANY LENDER. YOU DO NOT WARRANT OR GUARANTEE THAT COMPLETION OF THE IMPROVEMENTS OR LOAN FUNDING CAN BE ACHIEVED WITHIN LOAN LOCK PERIODS, IF ANY, REGARDLESS OF WHETHER SUCH LOCKS ARE PAID FOR BY YOU OR ME. Responsibility for obtaining the loan and for satisfying all conditions made by the Lender with regard to the loan shall rest solely with me. If I fail to timely apply for financing from a Lender, I will be deemed in default of this Agreement.

c. Qualification. I shall furnish promptly and accurately to Lender all information and documents requested by Lender in connection with the Loan application. I shall promptly execute all instruments required by Lender and I shall promptly comply with any and all other requirements of Lender through and after Closing and make a good faith effort to qualify for the Loan. If I am married and my spouse is not a purchaser under the Agreement, then I shall be responsible for my spouse executing the Loan documents as required by Lender and the failure of my spouse to do so shall not relieve me of my obligations pursuant to the Agreement. If I am other than an individual, such as a corporation or partnership, then I shall be obligated to supply such guarantees of payment from my principals or otherwise as Lender or you may require, and provide Lender and/or the title insurer promptly upon request such certificates, resolutions, or other corporate, partnership, or other organizational documents as may be required. I AGREE TO INCUR NO DEBT SUBSEQUENT TO THE DATE OF THIS AGREEMENT WHICH MIGHT JEOPARDIZE APPROVAL OF THE LOAN. Once I have obtained a commitment for the Loan, the Deposits I have paid will no longer be refundable, unless you are in default hereunder, and I will not have any right to terminate this Agreement on account of my failure to obtain the Loan for any reason. A commitment for the Loan subject to a condition or contingency shall be deemed a Loan commitment for purposes of this Agreement. This provision is intended to cover my receipt of a mortgage financing commitment conditioned on the happening of a future event and includes any condition or contingency not satisfied for any reason, and shall cover the possibility that the Lender may eliminate the loan program for which I received a conditional commitment or may no longer finance in the percentage amount originally applied for. I acknowledge that this provision is fair and reasonable and that I should properly bear the risk that, once approved, Lender may not close the Loan due to a change in its lending programs, my financial condition or my failure to remove a condition or contingency of the Loan. Under no circumstance will I be excused from performance under this Agreement as a result of my failure or inability to satisfy any contingency in the commitment.

d. Failure to Qualify. I shall provide you within thirty (30) days of the date of this Agreement with a copy of a written loan commitment. If I am unable to obtain a loan commitment within thirty (30) days from the date of this Agreement from Lender, I will notify you in writing within that time period. You will have the right, but not the obligation, to extend this period for an additional period of up to thirty (30) days, and you shall have the option to secure other financing on my behalf. If you are not so notified by me within the initial thirty (30) day period (or the thirty (30) day extension period, if applicable) that I am unable to obtain a commitment, the Deposits will be nonrefundable and I will be required to close the transaction required by this Agreement. Only in the event that you are

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timely notified within the initial thirty (30) day period (or the thirty (30) day extension period, if applicable) that I am not able to obtain a commitment and request a return of the Deposit, and provided I am not in default under any terms of this Agreement, then I may terminate the Agreement and the Deposits I have paid will be returned to me. After the return of such Deposits, we will each then be relieved of our obligations under this Agreement.

If I fail to timely apply for, fail to provide you with a written loan commitment as provided in this Paragraph 16(d), or fail to otherwise make all necessary efforts to obtain a loan commitment, maintain it once obtained, remove any conditions from it, furnish all requested information to Lender, and execute all customary mortgage documents for Lender, the transaction will be considered a cash transaction and not contingent upon my obtaining financing, and I agree to provide you, within five (5) calendar days from your request, bank statements or statements from another financial institution verifying my ability to purchase the Property with cash. If I fail to provide the required financial statements or if I do not (based on the documentation provided by me to you) have the financial ability to purchase the Property with cash, then I shall be deemed to be in default under this Agreement.

I further understand that once I have obtained a mortgage loan commitment, my Deposits will be non-refundable and I will be obligated to close, even if the commitment is subsequently withdrawn, through no fault of yours including, as a result of, among other things, a change in my financial status (including loss of employment), a change in the Lender’s loan programs or lending criteria, or because any condition to such loan commitment is not satisfied for any reason including, but not limited to, failure of the Property to appraise equal to or greater than the Total Purchase Price.

e. Appraisal. I agree to provide you, within five (5) calendar days from your request, with a copy of any appraisal of the Property which either I obtain or a Lender to whom I have applied for financing for the purchase of the Property obtains.

f. Costs and Expenses. I shall be responsible for and shall pay all costs of obtaining the Loan, including, but not limited to, documentary stamps, mortgagee title insurance, intangible taxes, recording fees, Loan fees, points, discounts and any and all other costs of obtaining the Loan.

g. Investigation. You and/or Lender, including Approved Lenders, are hereby authorized to make any inquiry and investigation as to my character, reputation and financial responsibility. You assume no obligation to me and shall not be bound in any manner whatsoever should Lender fail to approve me for the Loan or otherwise fail to provide the Loan.

h. Sale of Other Residence or Property. Notwithstanding any condition of any loan commitment to the contrary, or the provisions of Paragraph 17 below, I represent and warrant that this Agreement is not and will not be subject to or contingent upon me selling and/or closing on the sale of my present residence or other property. Failure to close on the purchase of the Property will constitute a default by me and the remedies available to you for my default under this Agreement shall apply.

i. Full Disclosure. I WILL BE IN DEFAULT OF THIS AGREEMENT IF I FAIL TO MAKE TIMELY APPLICATION TO A LENDER, FAIL TO COMPLY WITH THE OTHER REQUIREMENTS OF THIS PARAGRAPH 16 OR MAKE REPRESENTATIONS TO YOU OR A LENDER THAT ARE UNTRUTHFUL OR INACCURATE.

17. Duty to List Current Residence or Other Property

I agree to list my current residence or other property for sale if the proceeds from the sale will be necessary to close on a cash transaction or to satisfy a Lender’s condition to a financed transaction. The listing shall be with a licensed real estate brokerage firm and published on the MLS at a verifiable market value acceptable to you. If this is a cash transaction, I will list my current residence or other property within seven (7) days of my execution of this Agreement. If I am financing the purchase of the Property, I will list my current residence or other property within seven (7) days of receipt of a loan commitment which lists as a condition to financing the sale of my existing residence. Notwithstanding this provision, my obligation to purchase the Property is not conditioned on the sale of my current residence or any other property, and a financing commitment with such a condition shall be deemed a Loan commitment for purposes of this Agreement as provided in Paragraph 16(c).

18. Credit Information Authorization

I authorize Lender to whom I have applied or am in the process of applying for a mortgage loan in connection with this transaction to disclose to you the information contained in any loan application, verification of deposit, income and employment, and credit reports or credit related documentation on me and to provide you with information relating to my loan application, including the status of my loan application. I authorize you to order one or more credit reports from a consumer reporting agency to be used in connection with this transaction. The cost of said report(s) is (are) to be paid by me. I authorize you to forward all copies of all or any portion of such report(s) without interpretation to Lender who (at my request) will evaluate a potential extension of credit to me in connection with this transaction. I authorize Lender, and any credit bureau or other person or entity utilized or engaged by Lender, to obtain one or more consumer reports regarding me and to investigate any information, reference, statement, or data, provided to Lender by me or by any other person or entity, pertaining to my credit and financial status. I shall indemnify, defend and hold you and your officers, directors, shareholders, members, employees, agents, contractors, subcontractors and suppliers (“Indemnified Parties”), Lender, and any credit bureau or other person or entity utilized or engaged by Lender or you harmless from and against any deficiencies, losses, liabilities, claims, damages, expenses, obligations, penalties, actions, judgments, awards, suits, costs or disbursements of any kind or nature whatsoever, including attorneys’ fees and expenses (“Claims”) arising from an investigation of my credit and financial status.

19. Miscellaneous Provisions

a. Agreement Not to be Recorded. I will not record this Agreement, nor any notice or memorandum of this Agreement, in the Volusia County Public Records or elsewhere. If I do, I shall be in default hereunder. I acknowledge that I have not acquired any right, title, interest, or lien right in the Property prior to Closing and I agree not to file a lis pendens, claims of lien or any other document concerning any dispute which I may subsequently have with you concerning or arising out of this Agreement. This Paragraph shall survive the Closing or termination of this Agreement.

b. Sales Commissions. Unless a cooperating broker agreement or other agreement indicating otherwise is attached to this Agreement, I represent to you that I have not consulted, dealt with or negotiated with a real estate broker, salesperson or agent other than your sales personnel located at your sales office. I agree that you are not responsible for the payment of a commission to a real estate broker, salesperson, or agent other than your sales personnel and I agree to indemnify and hold you harmless from and against any and all loss and liability, including attorneys’ fees and paraprofessional fees and costs pretrial and at all levels of proceedings, including appeals, resulting from or arising out of any representation or breach of a representation or warranty set forth in this Paragraph 19(b). You will pay all sales commissions of your sales personnel. I agree to indemnify and hold you harmless from the claims of any other persons claiming a real estate commission. This Paragraph shall survive the Closing of this Agreement and delivery of the Deed.

c. Notices. Anytime we are required to notify each other, the notice must be in writing. Notices of default, scheduling Closing, or indicating a change of address must be sent by registered or certified mail, postage prepaid, with a return receipt requested or by prepaid nationally recognized overnight delivery service. You will send my notices to the address I have given you on page 1 of this Agreement. I will send any notices to you at 4400 W. Sample Road, Suite 200, Coconut Creek, Florida 33073. Either of us can change

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our address for notices. Notices shall be deemed received three (3) business days after they are mailed or the day after mailing if sent by overnight delivery. This time period shall apply even when I reject or refuse to accept the notice, or delivery is not possible because of a changed address of which no notice has been received by you. The signature of an employee, family member, or any other person at the designated address shall be deemed to constitute receipt by the addressee. If I am not a resident of the United States, I will designate a United States resident as agent for the purposes of accepting notices under this Agreement. Notice given in accordance herewith shall be effective and deemed given upon receipt or refusal to accept receipt at the address of the addressee. Notice shall also be effective and deemed given if delivery of such notice is not possible because of my changed address of which no notice has been received by you.

d. Transfer or Assignment. I have no right to assign, sell or transfer my interest in this Agreement without your prior written consent, which consent may be withheld for any reason or no reason. If I attempt to so assign this Agreement, such assignment shall be null and void and of no effect. To the extent that you consent to any such assignment, said consent may be conditioned in any manner whatsoever, including, without limitation, charging an assignment or transfer fee. Any such assignee must fully assume all of my obligations hereunder by written agreement for your benefit, a counterpart original executed copy of which shall be delivered to you. If I am a corporation, partnership, other business entity, trustee or nominee, a transfer of any stock, partnership interest, equity, beneficial or principal interest in me will constitute an assignment of this Agreement requiring your prior written consent. Without limiting the generality of the foregoing, I shall not, prior to closing on title to the Property, offer the Property for resale with a broker or otherwise or allow the Property to be listed on the Multiple Listing Service for resale.

You may assign or transfer your interest in this Agreement and my consent will not be required. If the assignee or transferee of the Property assumes your obligations contained in this Agreement you will be released from liability hereunder and will not be liable to me for any acts, omissions or defaults of the transferee or assignee.

e. Waiver. Your waiver of any of your rights or remedies under this Agreement shall not operate to waive any other of your rights or remedies or to prevent you from enforcing the waived right or remedy in another instance. Your waiver of any breach of this Agreement shall not operate as a waiver of any other or subsequent breach of this Agreement.

f. Others Bound by this Agreement. If I die or in any way lose legal control of my affairs, this Agreement will bind my heirs and legal representatives. If I have received your written permission to assign or transfer this Agreement, it will bind anyone receiving my interest. If I am a corporation or other business entity, this Agreement will bind any successor corporation or entity who has received your permission to become an assignee under this Agreement.

g. Interpretation and Computation of Time. The use of the singular tense in this Agreement shall include the plural and vice versa whenever the context requires. I have fully reviewed this Agreement and each Addendum to this Agreement and sought all legal and other advice which I deem necessary and agree that no provision of this Agreement shall be more strictly construed against either of us than the other. Any reference in this Agreement to time periods of five (5) days or less shall, in computation thereof, exclude Saturdays, Sundays and legal holidays. If the last day of any period is a Saturday, Sunday or legal holiday, the period shall be extended to 5:00 p.m. on the next full business day.

h. Public Records. I authorize you to record the documents necessary to establish and operate the Community. You will record them in the Volusia County Public Records.

i. Florida Law, Severability. Any disputes that develop under this Agreement will be settled according to Florida law, without giving effect to principles of conflict of laws, except as specifically preempted by federal law. In the event that any provision of this Agreement shall be void or unenforceable, such provision shall be deemed deleted so that the balance of this Agreement is enforceable. It is the mutual intention of all parties to this Agreement that all provisions of the Agreement be given full effect and be strictly enforceable in accordance with their terms. Under no circumstances shall either of us have the right to cancel this Agreement solely by reason of the inclusion of certain language in this Agreement (other than language which is intended specifically to create such a cancellation right).

j. Governmental Requirements. I understand that you may not have obtained all approvals or consents as are required by the various governmental authorities including, but not limited to, site plan approvals. You anticipate that there will not be any material changes to the Community, including the Property, but such is not warranted.

k. Entire Agreement. This Agreement contains the entire understanding between us concerning the sale and purchase of the Property and can only be amended in writing, executed by both of us. Prior agreements, representations, understandings, and oral statements not reflected in this Agreement are void and have no effect and I have not relied on them. In addition, I acknowledge that I have not relied on any representations, newspaper, radio or television advertisements, warranties, statements or estimates of any nature whatsoever, whether oral or written, made by you, your sales persons, agents, officers, employees, cooperating brokers, if any, or otherwise except as specifically represented in this Agreement. I have based my decision to purchase the Property on personal investigation, observation, and the Community Documents. In order to ensure that you and I are in full agreement on all terms and conditions relating to the Agreement and to best ensure that there are no misunderstandings, I have confirmed that all terms and conditions (including all statements, representations, and/or understandings upon which I rely in purchasing the Property) are set forth in this Agreement.

l. Counterparts and Facsimile and Electronic Signatures. This Agreement may be executed in any number of counterparts, a complete set of which shall be deemed to be an original and a complete set of which shall comprise but a single instrument. This Agreement and any addenda to this Agreement may be signed by electronic signatures (i.e. DocuSign) and/or signatures may be given by facsimile or electronic transmission, and such signatures shall be deemed given (a) as of the date and time of the transmission of this Agreement and/or any addenda to this Agreement with electronic signatures and/or (b) as of the date of transmission of this Agreement and/or any addenda to this Agreement by facsimile or electronically to the other party.

m. Warranty. I acknowledge that at the time of execution of this Agreement, you have no reason to know of any particular purpose I have in purchasing the Property and the items of personal property located therein other than normal residential use. I understand, acknowledge and agree that the only warranties which you are providing me are those set forth in the 2-10 Home Buyers Warranty issued by the Home Buyers Warranty Corporation or such other company of equal quality acceptable to you (“Warranty”). I acknowledge having received and reviewed the Warranty Specimen Booklet prior to or in conjunction with the execution of this Agreement, a copy of which is attached as an exhibit to this Agreement. Validation of the Warranty is not guaranteed, but is conditioned upon the satisfactory completion of all required inspections, upon your compliance with all the administrator’s enrollment procedures, and upon you remaining a member in good standing of the warranty program. The Warranty Specimen Booklet is subject to change prior to Closing.

The Warranty covers the structural components of the house constructed on the Property. The Property will be enrolled in the Warranty at the Total Purchase Price. Any and all claims, disputes and controversies between us arising from or related to the Warranty (“Warranty Claim”) shall be submitted to binding arbitration in the manner specified in the Warranty, and in the event of any conflict between this Agreement and the arbitration provisions in the Warranty, the Warranty shall control. DURING THE TIME THAT THE WARRANTY REMAINS IN EFFECT, ANY IMPLIED WARRANTIES AVAILABLE TO YOU UNDER

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FEDERAL OR STATE LAW WITH RESPECT TO CONSUMER PRODUCTS AS DEFINED IN THE MAGNUSON MOSS WARRANTY FEDERAL TRADE COMMISSION IMPROVEMENT ACT (15 U.S.C. 2301 ET SEQ.) (THE “ACT”) SHALL REMAIN AVAILABLE TO YOU. WITH RESPECT TO ALL OTHER COMPONENTS IN THE PROPERTY, YOU GIVE THE WARRANTY EXPRESSLY IN LIEU OF ANY OTHER WARRANTIES, EXPRESSED OR IMPLIED. TO THE MAXIMUM EXTENT LAWFUL, AND EXCEPT FOR THE WARRANTY, AND WITH THE EXCEPTION OF ANY IMPLIED WARRANTIES AVAILABLE TO YOU IN ACCORDANCE WITH THE ACT DURING THE TIME THAT THE WARRANTY REMAINS IN EFFECT, YOU DISCLAIM AND I HEREBY WAIVE ANY AND ALL IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS, FITNESS FOR A PARTICULAR PURPOSE, HABITABILITY, SUITABILITY, INTENDED USE, WORKMANSHIP, QUALITY AND CONSTRUCTION RESPECTING THE PROPERTY, COMMON AREAS AND COMMON PROPERTIES OF THE COMMUNITY, IF ANY, AND ALL FIXTURES OR ITEMS OF PERSONAL PROPERTY SOLD PURSUANT TO THIS AGREEMENT, OR ANY OTHER REAL OR PERSONAL PROPERTY WHATSOEVER CONVEYED IN CONNECTION WITH THE SALE OF THE PROPERTY OR LOCATED WITHIN THE COMMUNITY WHETHER ARISING FROM THIS AGREEMENT, USAGE, TRADE, IMPOSED BY STATUTES, COURSE OF DEALING, CASE LAW OR OTHERWISE, EXCEPT WHERE ADDITIONAL WARRANTIES ARE REQUIRED BY APPLICABLE LAW OR REGULATION.

SOME STATES DO NOT ALLOW LIMITATIONS ON HOW LONG AN IMPLIED WARRANTY LASTS, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. THE WARRANTY IS THE ONLY EXPRESS WARRANTY GIVEN BY YOU. YOU DISCLAIM AND I HEREBY WAIVE ANY LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. SOME STATES DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. THE WARRANTY GIVES YOU SPECIFIC LEGAL RIGHTS, AND YOU MAY ALSO HAVE OTHER RIGHTS WHICH VARY FROM STATE TO STATE.

YOU MAKE NO REPRESENTATION OR WARRANTY CONCERNING GEOLOGICAL OR ENVIRONMENTAL MATTERS SUCH AS RADON GAS AND SPECIFICALLY EXCLUDE SUCH GEOLOGICAL AND ENVIRONMENTAL MATTERS FROM ANY WARRANTIES GIVEN UNDER THIS AGREEMENT.

Normal swelling, expansion and contraction of materials and construction, and any cracks appearing as a result thereof or as a result of settlement of, in or on the Property shall not be deemed to be construction defects. Upon Closing, you shall deliver to me all manufacturers’ warranties, if any, covering the consumer products, if any, to be conveyed to me under this Agreement provided, however, YOU SHALL NOT THEREBY BE DEEMED TO WARRANT ANY SUCH CONSUMER PRODUCT OR TO ADOPT ANY LIABILITY FOR ANY SUCH MANUFACTURERS’ WARRANTY THEREOF.

I ACKNOWLEDGE, UNDERSTAND AND AGREE TO THE FOLLOWING WITH RESPECT TO THE WARRANTY: (I) THE PATTERN OF GRADING AND DRAINAGE FOR THE PROPERTY IS AN APPROVED GRADE AND DRAIN PATTERN. ANY CHANGE IN THE GRADING, DRAINAGE OR LANDSCAPING OR VEGETATION COULD VOID THE WARRANTY. IF I CHANGE THE GRADE OR DRAINAGE ESTABLISHED BY YOU, OR BY CONSTRUCTION, ADDITIONS OR DELETIONS CAUSE THE ESTABLISHED GRADE AND/OR DRAINAGE PATTERNS TO BE MODIFIED, THEN YOU SHALL BE RELIEVED OF ANY LIABILITY FOR DAMAGES, IF ANY, CAUSED BY SUCH CHANGES, (II) YOU MAKE NO WARRANTY OR REPRESENTATION REGARDING SHIFTING SOILS, UNSETTLED SOILS, UNUSUAL ROCKS OR SUBSURFACE CONDITIONS, AND (III) THE WARRANTY DOES NOT INCLUDE DEFECTS CAUSED BY NORMAL WEAR AND TEAR, INSUBSTANTIAL OR IMMATERIAL VARIANCES OR DEFECTS, THE ELEMENTS, NATURAL DISASTERS, ACTS OF TERRORISM, OR FAULTY MAINTENANCE, OPERATION OR ABUSIVE USE.

I ACKNOWLEDGE AND AGREE THAT YOU DO NOT GUARANTEE, WARRANT OR OTHERWISE ASSURE, AND EXPRESSLY DISCLAIM, ANY RIGHT TO VIEW AND/OR NATURAL LIGHT. I ACKNOWLEDGE AND AGREE THAT YOU HAVE MADE NO REPRESENTATIONS OR WARRANTIES REGARDING THE EXISTENCE OR QUALITY OF ANY VIEWS THAT WILL BE VISIBLE FROM THE PROPERTY WHEN COMPLETED, AND I UNDERSTAND AND AGREE THAT THE VIEW FROM THE PROPERTY CAN AND WILL ONLY BE DETERMINED UPON COMPLETION OF THE PROPERTY AND THE COMMUNITY, AND THAT ANY VIEWS THAT CAN BE ANTICIPATED FROM MODELS, SKETCHES, OR OTHER MATERIALS ATTEMPTING TO SHOW HOW THE PROPERTY AND THE COMMUNITY WILL LOOK UPON COMPLETION MAY NOT BE RELIED UPON FOR SUCH PURPOSE, AND I AM NOT PURCHASING THE PROPERTY IN RELIANCE ON THE PROPERTY HAVING ANY PARTICULAR VIEW. I ACKNOWLEDGE THAT YOU HAVE MADE NO REPRESENTATIONS OR WARRANTY REGARDING (I) THE ECONOMIC ADVANTAGES OR DISADVANTAGES OF PURCHASING THE PROPERTY, (II) ANY POTENTIAL INCREASE IN THE VALUE OF THE PROPERTY ABOVE THE TOTAL PURCHASE PRICE, OR (III) THE PURCHASE OF THE PROPERTY AS AN INVESTMENT OR FOR OTHER ECONOMIC PURPOSES, AND I HAVE AND WILL RELY ON MY OWN DETERMINATION OF SUCH MATTERS IN PURCHASING THE PROPERTY.

You do not warrant any of the work performed in or on the Property by third party contractors, not hired by you, prior to or after the Closing and shall not be liable for any defects in the work performed by third party contractors not hired by you, nor for any adverse impact to the Property or the Community caused thereby.

Notwithstanding the foregoing, in no event shall any disclaimer of warranty relieve you of your unconditional obligation to complete construction as set forth in Paragraph 2 of this Agreement.

n. Access. Except as provided in Paragraph 8 of this Agreement, I understand and agree that I am not permitted to enter the Community, except for models, if any, and sales offices, until I have Closed and I will indemnify and hold you harmless, including attorneys’ fees, paraprofessional fees and costs at all tribunal levels, from any injury I (or any of my guests, family, or others accompanying me) may sustain by entering the Community.

o. All Parties Liable. If more than one person signs this Agreement as purchaser, each will be fully liable, jointly and severally, for full performance of all duties and obligations under it and you can enforce it against each of the purchasers, or all of them collectively.

p. Community Documents. My execution of this Agreement, unless stated to the contrary elsewhere in this Agreement, shall conclusively show that I have received all the “Community Documents” described in sub-paragraph (c) of Paragraph 9, as well as all other documents described in a separate receipt form which I have or will sign. I am aware that the Community Documents do not include all of the documents affecting the Property and the Community. I acknowledge that you have the right to amend the Community Documents as deemed necessary by you in your sole and absolute discretion and in accordance with their terms. I agree to take title to the Property subject to the Community Documents, to abide by and be bound by all of the terms and conditions of the Community Documents, and any amendments thereto.

q. Prices. You reserve the right to establish prices for homes built in the Community. You may, in your sole discretion, increase or decrease the price or price per square foot for any home, lot, or option at any time, or offer incentives for the sale of lots and homes. Once I have signed this Agreement establishing the price for the Property, the prices for any subsequent changes or upgrades to the Property as requested by me including, but not limited to, design, floor plan, options, materials or otherwise, are subject to change by you until a written and signed agreement on price is reached by us. You make no representations or warranties that the price for the Property or options in the Property will be increased or decreased for other buyers of identical or similar homes or options. You also make no representations or warranties that changes made or options, extras or upgrades chosen by me will or will not increase or decrease the market value of the Property, and I understand and agree that such upgrades and options may not increase the market value of the Property. The Property is being sold for residential purposes and not as an investment. I acknowledge, understand and

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agree that you shall have the right to make changes, without notice to me, to the number of homes being built, size and style of homes being built, features and materials in homes being built, prices of homes (whether more or less than currently published) and price per square foot of homes (whether more or less than currently published).

r. Administration Fee. In the event this Agreement is terminated by either of us, I shall return the Community Documents to you in the same condition originally received. I agree to pay a $250 charge to you if I do not return any of the Community Documents previously delivered to me to defray your costs and expenses resulting from the preparation, printing and delivery of the Community Documents. This Paragraph shall survive the termination of this Agreement.

s. FIRPTA. The parties agree to comply with the Foreign Investment in Real Property Tax Act, as amended, and agree that there will be no withholding at Closing on account of such Act.

t. OFAC. Executive Order 13224 requires all United States entities and persons to block assets and not transact business with entities, countries and persons (specifically designated nationals) set forth by the Office of Foreign Asset Control (“OFAC”). This requirement applies to you and all of your affiliates. Accordingly, you will check current OFAC lists and other publications in connection with each potential transaction and home sale. In order to check the OFAC list, I must provide you with a government-issued identification card (for example, a driver’s license, passport, or resident alien card). To the extent my name (or to the extent I am a corporation or other entity, any person or entity constituting a part of me) matches a name or entity on any such OFAC list or publication, the transactions with me contemplated under or in connection with this Agreement will be immediately suspended, and I shall be reported as instructed by OFAC.

u. Radon Disclosure. In accordance with the provisions of Florida Statutes, Section 404.056(5), you are required to and do hereby make the following disclosure: “RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health department.”

I acknowledge that you make no representation or warranty concerning geological or environmental matters such as radon gas and that you specifically exclude such geological or environmental matters from any warranties given under this Agreement. I understand that if I require more information concerning this potential risk, the U.S. Environmental Protection Agency and state and local authorities are best equipped to render advice.

v. Development Plan. In addition, I acknowledge and agree that you and your successors and assigns shall have the right, but not the obligation to permit, develop, consent to or take any action in connection with any use of any undeveloped portions of the Community in accordance with applicable zoning and land use regulations as same may now exist or may be hereinafter amended from time to time. I acknowledge that your rights do not create any obligation upon you and neither I nor my successors or assigns shall have any claim against you, your successors and assigns with respect to any development, change in use or lack of development of any portion of the Community or adjacent property including, but not limited to, any changes in the plan of development existing as of this date.

w. Construction and Sales Activities. I acknowledge that some areas of the Community may be under development for an extended period of time. Incident to the development process, the quiet enjoyment of the Community may be unavoidably interfered with to some extent by the construction operations. Construction, development and sales activities will likely occur after I occupy the Property. This may result in some inconvenience to me and my family and guests due to increased noise, dust, road closures, operation of the model homes and sales offices, and other activities. Construction activities can occur at various hours throughout the day, and sales activities can result in additional traffic and visitors throughout the Community. You cannot and do not guarantee that I will not be affected or impacted as a result of the overall construction and development of the Community.

x. Declaration. In the event the Declaration is not recorded as of the date of this Agreement, it will be recorded prior to Closing.

y. Hard Surface Flooring. You will not be responsible for any cracked tile or damage to other flooring that I install.

z. Corporate Purchaser. If I am a corporation, I represent on behalf of the corporation that it is duly authorized and existing and is qualified to do business in Florida, that the person signing on the corporation’s behalf is authorized to do so, and that all corporate actions necessary to enter into this Agreement have been taken. In addition, I warrant that it is not necessary for any other firm, person, corporation or entity to join in the execution of this Agreement to make the corporation’s execution complete, appropriate and binding. Further, at the time of execution of this Agreement, as well as at Closing, I shall provide you with a certificate of my corporate secretary attesting to the names of the present officers, directors and shareholders of the corporation.

aa. Mold Disclaimer. I understand that whether I, as an owner of the Property, experience mold growth will depend largely on how I manage and maintain my Property. Given the climate and humid conditions in Florida, mold, mildew, spores, fungi and/or other toxins may exist and/or develop within the Property. I am on notice that certain mold, mildew, spores, fungi and/or other toxins may be, or if allowed to remain for sufficient period may become, toxic and potentially pose a health risk. By execution of this Agreement and Closing, I assume the risks associated with mold, mildew, spores, fungi, and/or other toxins, and I acknowledge that you will not be responsible for any damages caused by mold, including but not limited to, property damage, personal injury, loss of income, emotional distress, death, loss of use, loss of value, and adverse health effects. This waiver of responsibility shall apply even if mold growth is a result of your negligence.

bb. No Interference. I understand, acknowledge and agree that picketing, posting of negative signs (including signs in or on vehicles), distribution of negative literature, posting of negative websites or negative postings on the internet may affect the value of homes in the Community and the residential atmosphere of the Community. I agree not to interfere in any manner whatsoever with the completion, marketing and sale of homes or other properties in the Community, and/or other communities owned and/or developed by you or your affiliates. Without limiting the foregoing, I agree that picketing, posting of negative signs, distribution of negative flyers and other literature in, near or around or in the vicinity of the Community, or any other community owned and/or developed by you or any of your affiliates, and negative postings on the internet are prohibited, and I agree not to engage in such activities. In the event of such activities or other interference with the completion, marketing and sale of homes in the Community, other properties in the Community, and/or other communities owned and/or developed by you or your affiliates, in addition to any remedies provided for in this Agreement, you may seek any and all remedies available under applicable law including, without limitation, damages and/or injunctive relief. The provisions of this Paragraph shall survive the Closing and any termination of this Agreement.

cc. Return of Deposit. In the event this Agreement is cancelled for any reason other than your default, I will be required to execute and return a release form provided by you prior to return of the Deposit.

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20. Insulation. I acknowledge insulation will be installed in my Property as follows: (a) exterior block walls will be insulated with a fi-foil barrier with an R-Value of R-4.1; (b) exterior framed walls will insulated with six (6) inch thick Fiberglass Batt with an R-Value of R-19; (c) the ceiling will be insulated with ten (10) inch thick Batt Fiberglass with an R-Value of R-30 around the attic access and twelve (12) inch thick Blown Fiberglass with an R-Value of R-30 in the remainder of the ceiling; (d) the interior framed walls and garage partition will be insulated with three and one-half (3½) inch thick Fiberglass Batt with an R-Value of R-13; and (e) the A/C closet walls will be insulated with three and one-half (3½) inch thick Fiberglass Batt with an R-Value of R-11. This R-Value information is based solely on the information given by the appropriate manufacturers (based on the thickness listed) and I agree that you are not responsible for the manufacturers’ errors. You reserve the right to use different types of insulation with different thicknesses and R-Values in accordance with Paragraph 6 of this Agreement. Notwithstanding the foregoing, if so indicated above, fiberglass (also known as glass wool) is/will be used for insulation in the Property. The U.S. Department of Health and Human Services (“HHS”) has listed fiberglass as a substance “which may reasonably be anticipated to be a carcinogen.” This listing identifies substances selected for further study because of their potential carcinogenic risk but is not an assessment by HHS that there is a causal connection between fiberglass and human cancer. The listing does not establish that fiberglass presents a risk to persons in their daily lives.

21. Energy Rating. Pursuant to Section 553.996 of the Florida Statutes, I may request that you cause a State Certified Energy Rater to perform an energy efficiency rating on the Property being purchased. I hereby release you from any responsibility or liability for the accuracy or level of the rating and I understand and agree that this Agreement is not contingent upon my approval of the rating, that the rating is solely for my own information and that I will pay the total cost of the rating. I hereby acknowledge the receipt of a brochure regarding the Florida Energy Gauge Program regarding Florida’s Building Efficiency Rating System (the “Energy Rating Brochure”).

22. Energy Performance Level Display Card. At my written request, you shall provide me with an Energy Performance Level (“EPL”) Display Card by way of Addendum to this Agreement pursuant to Section 553.9085 of the Florida Statutes.

23. Waiver of Jury Trial. I ACKNOWLEDGE THAT THIS AGREEMENT IS A SOPHISTICATED LEGAL DOCUMENT. ACCORDINGLY, EXCEPT FOR DISPUTES RELATING TO OR REGARDING THE WARRANTY DESCRIBED IN PARAGRAPH 19(m) WHICH WILL BE RESOLVED BY ARBITRATION AS AND TO THE EXTENT PROVIDED IN THE WARRANTY BOOKLET, JUSTICE WILL BEST BE SERVED IF ISSUES REGARDING THIS AGREEMENT ARE HEARD BY A JUDGE IN A COURT PROCEEDING, AND NOT A JURY. I HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION BASED ON THIS AGREEMENT, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT AND ANY DOCUMENT EXECUTED OR CONTEMPLATED TO BE EXECUTED IN CONJUNCTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY. I UNDERSTAND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR YOUR ENTERING INTO THIS AGREEMENT. NOTWITHSTANDING THE FOREGOING, AS TO ANY WARRANTY CLAIM, IN THE EVENT OF ANY CONFLICT BETWEEN THIS PARAGRAPH 23 AND THE PROVISIONS OF THE WARRANTY, THE WARRANTY SHALL CONTROL.

24. Substantial Completion. Whenever this Agreement requires you to complete or substantially complete an item of construction, that item will be understood to be completed or substantially completed when so complete or substantially complete in your opinion. The issuance of a temporary or permanent certificate of occupancy, use, or completion from the proper governmental authority authorizing the use of the Property for the purposes for which it was purchased shall be conclusive evidence of such completion. I acknowledge that the primary inducement for me to purchase under this Agreement is the Property, and not the recreational amenities, if any, and other common areas of the Community or any expectation that the Property will increase in value.

25. Disclosure Summary. Prior to execution of this Agreement, you provided a Disclosure Summary to me. Such Disclosure Summary is incorporated herein by reference. YOU SHOULD NOT EXECUTE THIS AGREEMENT UNTIL YOU HAVE RECEIVED AND READ THE DISCLOSURE SUMMARY REQUIRED BY SECTION 720.401, FLORIDA STATUTES. Pursuant to Section 720.401 of the Florida Statutes, you provide me with the following notice. IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE PURCHASER BEFORE EXECUTING THIS CONTRACT FOR SALE, THIS CONTRACT IS VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR REPRESENTATIVE WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN THREE (3) DAYS AFTER RECEIPT OF THE DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS VOIDABILITY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING.

26. Construction Industries Recovery Fund. Pursuant to Section 489.1425 of the Florida Statutes, you provide me with the following notice, as applicable. PAYMENT MAY BE AVAILABLE FROM THE FLORIDA HOMEOWNERS’ CONSTRUCTION RECOVERY FUND IF YOU [PURCHASER] LOSE MONEY ON A PROJECT PERFORMED UNDER AN AGREEMENT (CONTRACT), WHERE THE LOSS RESULTS FROM SPECIFIED VIOLATIONS OF FLORIDA LAW BY A LICENSED CONTRACTOR. FOR INFORMATION ABOUT THE RECOVERY FUND AND FILING A CLAIM, CONTACT THE FLORIDA CONSTRUCTION INDUSTRY LICENSING BOARD AT THE FOLLOWING TELEPHONE NUMBER AND ADDRESS: (850) 921-6593, 1940 N. MONROE ST., SUITE 42, TALLAHASSEE, FLORIDA 32399.

27. Chapter 558 Notice of Claim. In accordance with Florida law, you provide me with the following notice: ANY CLAIMS FOR CONSTRUCTION DEFECTS ARE SUBJECT TO THE NOTICE AND CURE PROVISIONS OF CHAPTER 558, FLORIDA STATUTES.

If I reject any settlement offer made pursuant to such Florida law by you or other contractors, subcontractors, suppliers or design professionals hired by, through or under you or your affiliates (collectively, “Protected Parties”), and I elect to proceed with an action against one or more Protected Parties, I acknowledge that all provisions of this Agreement respecting such disputes remain in full force and effect.

28. PROPERTY TAX DISCLOSURE SUMMARY

When a new home is built, the full value of the home is typically not reflected in the real estate taxes until after construction has been completed. You are not responsible for communicating any information regarding real estate taxes (current or future) and cannot and will not predict what taxes on the Property may be. I will confirm any information provided concerning appraisals, tax valuation, tax rates, or other tax-related questions with my personal tax advisor and the local taxing authorities.

Pursuant to Section 689.261 of the Florida Statutes, you provide me with the following notice: PURCHASER [BUYER] SHOULD NOT RELY ON THE SELLER’S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE PURCHASER [BUYER] MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER’S OFFICE FOR INFORMATION.

29. License Agreement. You hereby provide me with the following notice and disclosures regarding the License (as defined below), and I acknowledge, understand and agree as follows:

a. You obtained from the Margaritaville Communities, LLC, a Delaware limited liability company (“Sub-Licensor”) a license (“License”) to use the “Margaritaville Intellectual Property” which includes names, images and trademarks that are evocative of Jimmy Buffett and Margaritaville such as the name “Latitude Margaritaville” and the right to build, design and operate a community with

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a Margaritaville look and feel (the “Intellectual Property”). You are going to use the license in connection with the Community including the following rights:

i. You have the right to use the Intellectual Property for the purpose of marketing, promoting and selling the homes in the Community (“Homes”).

ii. The Association has the right to use the Intellectual Property solely for the limited purpose of operating the Community; the Association does not have the right to use the Intellectual Property for the marketing, promotion, sale or rental of Homes.

Use of the Intellectual Property within the Community, along with all logos associated therewith, are the proprietary property, trade names and service marks of Sub-Licensor.

b. Your license to use the Intellectual Property in connection with the Community expires on June 6, 2027 (“Term”), provided that you have the right to extend the Term of the License in one or more increments of (2) years each by written notice delivered to the Sub-Licensor within thirty (30) days prior to the expiration of the then-current Term so long as, at the time each extension is exercised, You are actively marketing Homes.

c. Except for those uses that continue pursuant to (d) below, upon termination of the License to use the Intellectual Property, You and the Association shall have the obligation to, as soon it is commercially reasonable thereafter, stop holding the Community out to the public as a “Margaritaville” branded community and commence such de-branding actions as are required to preclude a reasonable likelihood of confusion on the part of the public as to whether the Community is a “Margaritaville” establishment (the “De-Branding Actions”), including:

i. removing all exterior and interior Intellectual Property signage;

ii. changing any staff uniforms to remove all Intellectual Property; and

iii. discontinuing the use or display of Intellectual Property, including all usage of all such Intellectual Property in connection with the advertisement and promotion of the Community and on any worldwide Web site or other online service that is generally accessible to the public (including social media websites).

d. Notwithstanding the provisions of (c) above, upon the expiration of the Term, the De-Branding Actions shall not apply to: (i) Homes sold to any third parties, including without limitation any re-sales of Homes (subject to (f) below); (ii) directional street signs in connection with the Community; and (iii) Community entrance and other signage using the Intellectual Property. At the expiration of the Term, the Sub-Licensor has the right to terminate all use of the Intellectual Property in the Community, if in Sub-Licensor’s reasonable judgment, the use of the Intellectual Property has caused a material diminution of the value of the Intellectual Property and the good will associated therewith, and the Association fails to remedy such situation within one hundred twenty (120) days after written notice to the Association.

e. Upon reasonable prior written notice and during normal business hours, Sub-Licensor’s agents, at the Association’s cost and expense, have the right to:

i. inspect all common areas of the Community;

ii. interview management and staff employed at the Community provided such interviews do not unreasonably interfere with the performance of their respective duties and responsibilities; and

iii. inspect the Association’s records relevant to the Community to make sure Sub-Licensor’s standards are being observed.

f. I understand, acknowledge and agree that I do not have a license to use the Intellectual Property in any manner. However, my sales or rental agents (“Brokers”) and I may use the Intellectual Property in connection with the sale or rental of the Property only as set forth in (i) through (iii) below. Any unauthorized use by me or my Brokers (including real estate sales, rental agents, or rental management companies) will subject me to liability for trademark infringement with the following limited exceptions in connection with the sale or rental or my Property:

i. Me and my Brokers may refer to the Community as “Latitude at Margaritaville at Daytona Beach” and may refer to any street name that may include an element of the Intellectual Property in the address of the Property but only in non-stylized type without associated logos or color.

ii. Me and my Brokers may use images intended to show the Property itself and any incidental inclusion of signage or other elements of Intellectual Property in such images is not prohibited.

iii. Me and my Brokers may use such preapproved images of the Community entrance, common areas and amenities as you may make available to me, in your discretion, from time to time.

I understand, acknowledge and agree that any other uses of Intellectual Property by me or my Brokers in the sale or rental of the Property, or any other property within the Community, or for any other commercial purpose are strictly prohibited. These prohibitions include no use of music or reference to lyrics that are evocative of Margaritaville or Jimmy Buffett or any other references that falsely suggest any endorsement, affiliation or other connection with You, Jimmy Buffett or Sub-Licensor.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK. ADDITIONAL TEXT AND SIGNATURES APPEAR ON FOLLOWING PAGE.]

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30. Other Clauses.

YOU HAVE THE OPTION TO CANCEL YOUR CONTRACT OR AGREEMENT OF SALE BY NOTICE TO THE SELLER UNTIL MIDNIGHT OF THE SEVENTH DAY FOLLOWING THE DATE OF SIGNING OF THE CONTRACT OR AGREEMENT.

IF YOU DID NOT RECEIVE A PROPERTY REPORT PREPARED PURSUANT TO THE RULES AND REGULATIONS OF THE BUREAU OF CONSUMER FINANCIAL PROTECTION, IN ADVANCE OF YOUR SIGNING THE CONTRACT OR AGREEMENT, THE CONTRACT OR AGREEMENT OF SALE MAY BE CANCELED AT YOUR OPTION, FOR TWO (2) YEARS FROM THE DATE OF SIGNING.

Signed, sealed and delivered this _____________ day of ________________________, 20__, in the presence of:

Purchaser Purchaser By: MINTO COMMUNITIES, LLC,

a Florida limited liability company By: Name: Title:

Sales Representative Lender Block/Lot/Parcel Model Type _______________________________________________ Address

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INCENTIVE ADDENDUM

THIS INCENTIVE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase Agreement (the “Agreement”) dated as of the ____day of _____________, 20___ between _______________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ________ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the Community known as Latitude Margaritaville at Daytona Beach (the “Property”).

1. Defined Terms. All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by this reference.

2. Sales Incentive. Subject to the provisions of Section 4 of this Addendum, Seller has agreed to provide Purchaser with certain specified sales promotions as set forth in this Addendum. Seller will contribute ____________________ Dollars ($______________.__) (“Sales Incentive”) towards the following (check one):

Purchaser’s Closing Costs including documentary stamp taxes on the Deed, the premium for an owner’s title insurance policy, the title search/exam fees and the costs to record the Deed but excluding any outside realtor or broker processing fees and costs relating to Purchaser’s Loan for the Property, including, but not limited to, mortgage points, appraisal fee, daily interest, and escrow of taxes and insurance. The Sales Incentive shall be applied to Closing Costs in an order determined by Seller in its sole discretion and will be shown as a credit on the closing statement.

The cost of options, upgrades and/or extras, which will be applied as a credit at time of option selection. Any unused portion of the Sales Incentive will be applied toward Closing Costs in an order determined by Seller in its sole discretion, but excluding any outside realtor or broker processing fees and costs relating to Purchaser’s Loan for the Property, including, but not limited to, mortgage points, appraisal fee, daily interest, escrow of taxes and insurance, and will be shown as a credit on the closing statement.

3. Limitations. Purchaser acknowledges, understands and agrees that in the event Purchaser obtains a mortgage loan in connection with the purchase of the Property, the Lender may have certain underwriting guidelines that may limit or disallow certain incentives and credits. Notwithstanding anything to the contrary in this Addendum or the Agreement, the credits and incentives set forth in this Addendum are subject to approval by Purchaser’s Lender and Purchaser agrees to provide a copy of this Addendum to Purchaser’s Lender. In the event Purchaser’s Lender does not approve the amount of the credits and incentives set forth in this Addendum, then the credits and incentives shall be limited to the amounts approved by the Lender; it being understood and agreed that Seller shall not pay nor be obligated to pay any credits or amounts pursuant to this Addendum which are not permitted or approved by Purchaser’s Lender. Any unused portion of the Sales Incentive will be forfeited and will not be used to reduce the Total Purchase Price or otherwise.

4. Conditions to Sales Incentive. The Sales Incentive shall be provided only if Purchaser makes the election to use Founders Title and, if the purchase of the Property will be financed, Purchaser makes the election to use an Approved Lender within the time period provided in Section 16 of the Agreement and does use Founders Title and an Approved Lender.

5. Founders Title and Approved Lenders. Seller has given Purchaser notice in the Affiliated Business Arrangement Disclosure Statement that Seller has business relationships with Founders Title. Seller is not affiliated with any Approved Lender. Purchaser is informed and understands, acknowledges and agrees that Purchaser has the right to use a title company and Lender chosen by Purchaser in connection with the purchase of the Property, and Purchaser is not obligated to use an affiliated business of Seller, an Approved Lender, or any specified title company or lender as a condition to the sale of the Property.

6. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum.

7. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects, the Agreement shall remain in full force and effect.

8. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized officer of Seller.

PURCHASER: PURCHASER: Name: Name: Date: Date: SELLER: MINTO COMMUNITIES, LLC, a Florida limited liability company


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OPTION MODIFICATION ADDENDUM THIS OPTION MODIFICATION ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the _____ day of _________________, 20____, between ________________________________________ _____________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ________ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”), in the Community known as Latitude Margaritaville at Daytona Beach.

1. Defined Terms. All initially capitalized terms not defined in this Addendum shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by this reference.

2. Requested Changes. Purchaser and Seller hereby agree that the Agreement is amended as follows:

Current Total Purchase Price: $ New Options, Upgrades and Extras: $ Option Incentive (per Incentive Addendum) $ New Total Purchase Price: $ Payments: Initial Deposit: $ Additional Deposit: $ Additional Deposit: $ Additional Deposit: $

BALANCE DUE AT CLOSING BY WIRE TRANSFER ONLY:

$

Other:

3. Ratification. Purchaser hereby ratifies each and every provision of the Agreement not modified by this Addendum.



6. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized agent of Seller.


Name: Name: Date: Date:


Name: Name: Date: Date: SELLER: MINTO COMMUNITIES, LLC, a Florida limited liability company


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OPTION SELECTION ADDENDUM

THIS OPTION SELECTION ADDENDUM (this "Addendum") is executed in conjunction with and, by this reference, incorporated into the Purchase Agreement (the “Agreement”) dated as of the _____ day of _____________________________, 20___ between _____________________________________________ (collectively, “Purchaser”), and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot _____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the community known as Latitude Margaritaville at Daytona Beach (the “Property”). 1. Defined Terms. All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by reference.

2. Purchaser Acknowledgement. Purchaser acknowledges and agrees that in order for Seller to be able to apply for a building permit for the Property and complete the construction of the Property in accordance with Seller's schedule, Purchaser must complete the Design Selection Process (i.e., the selection of included and available selections for the Property, including the pool selections (collectively, the “Design Selections”)) in a timely and expeditious manner as provided herein, and Seller will not allow changes, additions, deletions or other modifications to the Design Selections made by Purchaser once the Design Selection Process is complete as provided herein. In that regard, Purchaser further acknowledges and agrees as set forth in this Addendum.

3. Group "A" Selections. Purchaser shall complete the Group "A" Design Selections at the time of signing the Agreement (the “Group A Appointment”).

4. Pool Selections (if applicable). If at the time of signing the Agreement the Purchaser has requested that Seller construct a pool (if available) as part of the Property, Purchaser shall complete the pool selection and design process, including, without limitation, all finishes and pricing, and execute the Pool Addendum within fourteen (14) days of date of the Agreement. Purchaser acknowledges and agrees that in the event of Purchaser’s failure to complete the pool selection and design process within such fourteen (14) day period, the Property will be constructed without a pool.

5. Group “B” Selections. Purchaser shall meet with their Design Professional/New Home Professional at the Design Center and complete the Group “B” Design Selections on ___________________ at _________________ (the “Group B Appointment”; the Group A Appointment and the Group B Appointment will be collectively referred to as the “Appointment”).

6. Re-Scheduled Appointment. In the event Purchaser misses either the Group A Appointment or the Group B Appointment, Purchaser shall be given one additional opportunity to meet with the Design Professional at a date and time to be determined by the Seller in Seller's sole discretion (the "Re-Scheduled Appointment"). In no event shall the Re-Scheduled Appointment be later than one (1) week following the date of the missed Appointment. In the event Purchaser misses the Re-Scheduled Appointment, Purchaser shall not be given any additional opportunity to meet with a Design Professional.

7. Failure to Complete Design Selections. Purchaser’s failure to complete the Group “A” or Group “B” Selections within the time period described in Paragraphs 3 and 5 above shall be a breach of the Purchase Agreement and this Addendum. In the event of such a breach by Purchaser:

a. Seller shall be entitled to apply for a building permit for the Property and to thereafter construct the Property based on Seller's standard plans for the Property. In that regard and without limiting the generality of the foregoing, Purchaser acknowledges that the Property will be constructed with the standard footprint of the home, the standard of HVAC, plumbing and electrical components within the home; and

b. Seller shall be entitled to make such Design Selections (including without limitation the color of floor tile and carpeting and the color and style of cabinetry) as Seller deems advisable to facilitate the permit application and construction process for the Property and Purchaser agrees to accept such Design Selections made by the Seller.

c. In the alternative to subparagraphs a and b above, Seller, at its sole option, shall have the right to declare a default by Purchaser and exercise its default remedies pursuant to the Purchase Agreement.

8. No Changes. Once the Design Selection is deemed complete in accordance with the provisions of Paragraphs 3, 4 and 5 above, no changes, additions, deletions or other modifications to the Design Selections or the Property shall be permitted. Purchaser acknowledges that all Design Selections are final. Seller shall not be required to consent to any changes in Purchaser's initial selections.

9. Deposit. A deposit of 50% on all pools is required at the time of selection. A deposit of 10% on all other Group “A” and Group “B” Design Selections is required at the time of selection to the extent the costs of those selections do not exceed 10% of the Base Purchase Price of the Property. Purchaser will pay at the time of selection 100% of the cost of the Group “A” and Group “B” Design Selections to the extent the cost of those selections exceed 10% of the Base Purchase Price of the Property. The deposit for a pool, the pool selections and design will be governed by the Pool Addendum.


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11. Conflicts. Except for conflicts relating to Seller’s unconditional obligation to complete construction of the Property, in the event of a conflict between the provisions of this Addendum and the provisions of the Purchase Agreement, the provisions of this Addendum shall control. In all other respects, including Seller’s unconditional obligation to complete construction of the Property, all provisions of the Purchase Agreement shall remain in full force and effect.

12. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized officer of Seller.





SELLER:

MINTO COMMUNITIES, LLC, a Florida limited liability company


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Affiliated Business Arrangement Disclosure Statement

To: Date:

Phone Number Work: Home:

From: Minto Communities, LLC or one of its below listed subsidiaries. Community: Latitude Margaritaville at Daytona Beach Lot/Block/Parcel:___________________________

This is to give you notice that each of Minto Communities, LLC, Minto PBLH, LLC, Minto TownPark, LLC, Minto Villas-By-The-Sea, LLC, Minto Bradenton, LLC, Minto Artesia, LLC, and Minto Sabal Bay, LLC (collectively, the “Minto Companies”) have a business relationship with each other and with Founders Title. Minto Communities, LLC owns Minto Title, which has a 75% interest in Founders Title. Because of such relationships, the referral of services by the undersigned Seller may provide the Minto Companies a financial or other benefit.

Set forth below are the types of settlement services offered by these affiliated companies and the estimated charge or range of charges generally required by these companies for such settlement services. You are NOT required to use Founders Title as a condition for the purchase of the subject property.

THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.

PROVIDER AND SETTLEMENT SERVICES/ESTIMATED RANGE OF CHARGES

TITLE

Founders Title provides closing services and title insurance through numerous underwriters. The following are estimated charges or range of charges that may be charged by Founders Title for the settlement services listed:

Item Amount 1108. Title Insurance Fees

1101. Settlement or Closing Fee $250 - $450

1102. Abstract or Title Search Fee $150-$450

1109. Lenders Coverage (Simultaneous issue with Owners Coverage)

$25

1110. Owners Coverage $0 - $100,000 of insured value $100,000 - $1,000,000 of insured value

$5.75 per thousand $5.00 per thousand

1111. Owners and Lenders Title Endorsements $25 per endorsement

1112. Florida Form 9 - Lender and Navigational Servitude

10% of risk premium for Owners and Lenders Title Policies

Courier Fee / Bank Wire Fee $50 - $250

Mail Away Closing Fee $150-$350

ACKNOWLEDGMENT

l/we have read this disclosure form, and understand that Minto Communities, LLC, Minto PBLH, LLC, Minto TownPark, LLC, Minto Villas-By-The-Sea, LLC, Minto Bradenton, LLC, Minto Artesia, LLC, or Minto Sabal Bay, LLC is referring me/us to purchase the above described settlement services and may receive a financial or other benefit as the result of this referral.



SELLER:



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RECEIPT FOR COMMUNITY AND OTHER DOCUMENTS

Latitude Margaritaville at Daytona Beach

Purchaser acknowledges receipt of the following described Community Documents with respect to Latitude Margaritaville at Daytona Beach.

1. Disclosure Statement

2. Disclosure Summary

3. Declaration of Covenants, Conditions, Restrictions and Easements for Latitude Margaritaville at Daytona Beach and all exhibits attached thereto including the Initial Use Restrictions, Articles of Incorporation for Latitude at Daytona Beach Homeowners Association, Inc., By-Laws of Latitude at Daytona Beach Homeowners Association, Inc., and St. Johns River Water Management District Permit, recorded or to be recorded in the Public Records of Volusia County, Florida, and all amendments and supplements thereto.

4. Estimated Operating Budget for Latitude at Daytona Beach Homeowners Association, Inc.

5. Energy Efficiency Rating Brochure

6. Builder Backed Service Program Booklet

7. Warranty Booklet

8. Property Report

Seller has advised Purchaser that the Community Documents are available to be provided to Purchaser either in printed paper form or electronically in the form of a CD-ROM, and Seller has given Purchaser a choice of receiving the Community Documents in the form of either printed paper, a CD-ROM, a USB flash drive, or a hyperlink. Purchaser understands that in order to view and print the contents of the CD-ROM, USB flash drive, or hyperlink, Purchaser will need a computer and printer with appropriate software. By checking Ö one of the boxes below, Purchaser hereby elects to receive the Community Documents in the following format: c Purchaser elects to receive the Community Documents in the form of printed paper.

c Purchaser elects to receive the Community Documents electronically in the form of a CD-ROM.

c Purchaser elects to receive the Community Documents electronically in the form of a USB flash drive.

c Purchaser elects to receive the Community Documents electronically in the form of a hyperlink.

Executed this ____ day of ______________________, 20____.





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ADDENDUM FOR NATURAL STONE FLOORS AND COUNTERTOPS AND MANMADE PRODUCTS

THIS ADDENDUM FOR NATURAL STONE FLOORS AND COUNTERTOPS AND MANMADE PRODUCTS (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the _____ day of _________________, 20____, between _____________________________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot _______ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”), in the Community known as Latitude Margaritaville at Daytona Beach.


2. Natural Stone Flooring and Countertops. Natural stones with varying colors and mineral compositions (“Stone”) are found in quarries throughout the world. Stone including, without limitation, marble and granite, are therefore products of nature and vary in color, markings, shade, and texture. Purchaser acknowledges that Stone is not uniform and that Seller can make no guarantees regarding the color, markings, shade, and texture of the Stone to be used in the Home. Purchaser further acknowledges and Seller makes the following disclosures regarding the Stone to be used/installed in the Home:

(a) Cleaning. Care should be exercised when cleaning Stone. No chemicals should be used to clean Stone other than those cleaners specifically designed to clean Stone.

(b) Natural Inconsistencies. Stone contains natural inconsistencies which will be present in Stone flooring and/or countertops in the Home; such natural inconsistencies are normal and are not defects.

(c) Edges and Corners. There may be changes in the patterning of Stone from one edge or corner of the flooring or countertop to another edge or corner; such changes in patterning are normal and are not defects.

(d) Fissures and Pits. Stone may contain fissures and pits that occur naturally and may appear as a small hole or recess; such fissures and pits are not cracks or defects.

(e) Spots, Freckles, and Rust. Spots, freckles, and/or rust may appear in Stone from time to time, and may appear as a concentration and/or random aberration of color in a particular area of the surface of Stone; such spots, freckles, and rust are not defects.

(f) Seams. Stone is almost never seamless due to the techniques employed to cut the slab of Stone in a way that preserves the maximum beauty of such Stone. Pieces of Stone must therefore be fitted together and the Stone used in the Home will not be seamless and may have visible seams, which are not defects.

(g) Wallboard and Plaster. Stone is cut by machine to be straight. Irregularities occurring in the Home may mean that the installer has to force pieces of Stone into the wallboard or plaster during installation to compensate for the irregularities. Shims, caulking and putty may be used to fill imperfections in walls and floors in order to install Stone flooring and countertops. There may be such shims, caulking and/or putty in the Stone used in the Home, which shims, caulking and/or putty are used to enhance the installation and are not defects.

(h) Staining. Stone may stain and such staining is not a defect. As a preventative measure, but not as absolute protection from staining, Stone should be sealed with the appropriate sealant, using the appropriate technique, after every six (6) months of normal use.

(i) Sink Cabinet. The cabinet under the sink will extend beyond the edge of the sink. This cannot be avoided as a larger sink or smaller cabinet extension would preclude natural adjustment of seams and edges of the Stone countertop and may result in a deterioration of the Stone countertop.

3. Manmade Products. The Home may include one or more of the following manmade products: carpet, tile, wood and laminate flooring; wood cabinets; cultured marble tubs, sinks and countertops. Purchaser acknowledges and agrees that shade variations are inherent in manmade products. Colors of actual manmade products may vary from samples or catalogues and slight color variations may exist from different product runs. Purchaser acknowledges that Seller makes no representations or guarantees regarding the color, markings, shade, and texture of the manmade products, or to the suitability or maintenance of any manmade products in the Home. Purchaser acknowledges and Seller makes the following disclosures regarding the manmade products to be used/installed in the Home.

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(a) Bathroom Fixtures. There may be a variation in shading between bathroom fixtures within the same room, including commodes, sinks, countertops, tubs, plumbing fixtures, and towel bars.

(b) Ceramic Tile. Ceramic tile is laid flat over a thinset mortar, unlike natural stone which is laid over a thick mudset bed. Clay body ceramic tile are typically laid with a 3/16” grout joint. Although clay body tiles are hard, they are softer than porcelain and the edges are not perfect. This is normal for ceramic tile and not considered a defect; therefore a larger grout joint is needed to spread the tiles apart enough so grout joints appear straight. It is normal for ceramic tile to have some hollow sounds, especially over an underlayment, and this is not considered a defect. Porcelain-rectified tiles are typically laid with a 1/8” grout joint. Since porcelain is fired at a higher temperature the porcelain is much harder and can be cut on its edges to exacting standards which allows for a tighter grout joint to be used. Normal settlement may crack the tile and the physical characteristics are conducive to chipping after installation by a number of different causes; subsequent chipping and cracking is unavoidable and not a warrantable item.

High gloss or polished tiles are susceptible to scratches and dulling, especially in high traffic areas over time. Felt pads should always be used on chair and large furniture legs to prevent scratching. Some polished tiles may show a subtle rippling effect under certain lighting conditions which is part of the manufacturing process and is not considered a defect.

Porcelain and clay tile are not completely flat or square. There will be some edges slightly higher than the adjacent tile. This is known as lippage and not an installation defect. Where rectified tile joints come together, minor lippage will be visible due to the fact that the tiles are not flat when manufactured. When installing tile, it is not possible to make all the corners perfectly flat. The narrower the grout joint, the more noticeable the lippage becomes. When grouting the rectified tile, the grout is finished below the square edge of the tile. This makes the lippage more noticeable than with a non-rectified tile. With a non-rectified tile the edge is tapered which hides this effect, even though they are grouted the same way.

Tiles are manufactured in dye lots. The samples in the design center may not be manufactured in the same dye lot as what is installed in the Home and may vary in shade.

(c) Grout. Over time, through the normal cleaning process, grout may become discolored. Grout typically darkens and turns a shade of grey; this is a result of mop and other water entering and drying in the grout joints and is not considered a defect. The grout in the Home is not sealed by the Seller.

(d) Wood Floors. Hardwood floors are a product of nature and, therefore, are not perfect. Wood floors are soft and are susceptible to scratching, scuffing, and indentation. Over time, this characterization process is what gives wood its natural beauty. Grain, shade and color variations as well as mineral streaks and knots are a natural occurrence and are not defects. It is not possible for manufacturers of wood flooring to make all flooring match one another, and new flooring may not match the design center or other samples. Due to such variation, wood flooring in one part of the Home may not match wood flooring in another part of the Home. In addition, due to these natural variations, Seller makes no warranty or guaranty that wood flooring will match other products including, without limitation, cabinets, stair railings or any finish trim or moldings. Seller can make no guarantees regarding the color, markings, shade and grain of the wood flooring to be used in the Home, and Purchaser acknowledges that such inconsistencies in color, markings, shade and grain patterns are not defects and will not constitute a reason for replacement of the wood flooring. Quarter round moulding on baseboard is used to cover the expansion gap. Wood flooring will be affected by environmental factors such as natural and artificial light, so Purchaser may see the color of wood flooring gradually change over time. Area rugs should be moved occasionally to help reduce the amount of discoloring under the rug. In the event repairs to wood flooring are required, replacement boards will come from left over or new material and may look different from the rest of the floor; a color blend will improve over time. Wood flooring will be installed using direct glue, floating, or staple down method, which are the manufacturer approved methods of installation depending on the site conditions of the Home. The filling of minor gaps with putty and/or the use of stain is a normal manufacturer’s installation procedure. The installation procedure used in the Home may be different than the manufacturer’s guidelines to meet local best practices. Minor “over-wood” or “peeking” of end joints is a normal manufacturing variant. Trim pieces may vary in species from the wood flooring and are stained to color coordinate but not match the wood flooring. In certain applications, wood staircases are clad with plank flooring with a solid stair nose trim piece and are not built with solid treads. Environmental conditions, including moisture and natural and artificial light, can lead to floor expansion, cracks, cupping, warping, buckling and/or peaked seams. When this occurs, care must be taken to fix floors so as to minimize the risk of injuries. Wood flooring should be cleaned only as directed by the manufacturer; care should be exercised not to use too much moisture when cleaning wood floors, and to dry wood floors completely. No chemicals should be used to clean wood floors other than those cleaners specifically designed to clean wood floors. Damage caused by water or moisture of any kind from any source is excluded from any manufacturer’s and Seller’s warranties. Seller will not be responsible for, and Purchaser agrees to indemnify and hold Seller harmless from, damages, including personal injuries and property damages, caused

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by Purchaser’s failure to promptly take appropriate corrective measures and minimize damage caused by improper care and maintenance.

(e) Wooden Cabinets. Wooden cabinets and wooden laminate cabinets are a popular selection of cabinetry in the home building industry. As the technological and manufacturing processes continue to emerge, what may appear to be a particular species of wood, (i.e., birch, oak, walnut, etc.) may in fact be a veneer over a composition product; stained and finished to resemble a specific species of wood. Purchaser acknowledges that wooden cabinets and wooden laminate cabinets may be manufactured with various manmade products and/or product names used in the manufacturing process. As with other natural materials, hardwood cabinets and wooden laminate cabinets will be affected by environmental factors such as natural and artificial lighting, so Purchaser may see the color of such cabinets gradually change and mellow over time. Seams will be visible in the framework of all face frame cabinets, if applicable.

4. Paver Driveway and Walk. The Home may contain a paver driveway and/or walkways and/or patio. Pavers are an interlocking system supported by existing earth. White mason sand is used to space the pavers and is meant to wash out in a short time. Pavers are not meant to have grout or mortar joints. Variations in the plane or levelness are expected and normal. The vast majority of elevation variances occur during the first year following installation. Purchaser acknowledges that pavers may be rustic, and no two paving stones are identical in color, texture or finish. Due to the normal manufacturing, shipping, handling and installation, pavers may have abrasions, marks and minor staining. Normal weathering can also change the color and texture of pavers. The most popular finish applied to pavers is clear sealer. Sealing helps to reduce effervescence, weathering and penetration of permanent stains and normal wear and tear. The sealing of pavers is a normal maintenance function. Purchaser should have a professional install any sealer. Seller recommends that Purchaser not install any sealer until Purchaser has occupied the Home for thirty (30) days to allow the pavers to properly cure. Purchaser further acknowledges that paving stones at the models may not have been sealed and may have been left in their original condition.

5. Acknowledgement. Purchaser acknowledges, understands and agrees that (a) Seller has no control over material differences due to dye lots or nature and cannot be held accountable for these occurrences and (b) the color chips and samples represent the general colors found within each product, actual colors may vary, and Seller makes no representations or guarantees regarding colors.








SELLER: MINTO COMMUNITIES, LLC, a Florida limited liability company


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DISCLOSURE STATEMENT FOR


THIS DISCLOSURE STATEMENT CONTAINS IMPORTANT MATTERS TO BE CONSIDERED IN ACQUIRING A HOME IN LATITUDE MARGARITAVILLE AT DAYTONA BEACH.

THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE. PURCHASER SHOULD REFER TO ALL REFERENCES, THE COMMUNITY DOCUMENTS (DEFINED BELOW), THE PURCHASE AGREEMENT AND OTHER SALES MATERIALS.

ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE SELLER/DEVELOPER. REFER TO THIS DISCLOSURE STATEMENT FOR CORRECT REPRESENTATIONS.

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TABLE OF CONTENTS

LATITUDE MARGARITAVILLE AT DAYTONA BEACH DISCLOSURE STATEMENT

SECTIONS PAGES

I. PLAN OF DEVELOPMENT ................................................................................... 2II. ASSOCIATION MEMBERSHIP ............................................................................. 3III. MAINTENANCE OBLIGATIONS ........................................................................... 5 IV. AMENITIES FACILITIES ....................................................................................... 6V. COMMUNITY CHARGES ...................................................................................... 7 VI. AGE RESTRICTED COMMUNITY ........................................................................ 9VII. SALE-LEASE ....................................................................................................... 10VIII. USE RESTRICTIONS .......................................................................................... 11IX. COUNTY AND MUNICIPAL BUILDING CODES AND ORDINANCES ............... 11XX. PETS ................................................................................................................... 11 XI. VEHICLES, PARKING AND GARAGES ............................................................. 11XII. LEASING ............................................................................................................. 12XIII. MANAGEMENT ................................................................................................... 13XIV. IRRIGATION SYSTEM ........................................................................................ 13XV. UTILITIES ............................................................................................................ 14XVI. WATERBODIES .................................................................................................. 17XVII. CONSERVATION AREAS ................................................................................... 17XVIII. SECURITY ........................................................................................................... 19XIX. PRICES AND MARKET VALUES........................................................................ 20XX. CONSTRUCTION AND SALES ACTIVITY ......................................................... 20XXI. VIEWS ................................................................................................................. 21XXII. TREES AND FOLIAGE ........................................................................................ 21XXIII. EASEMENTS ....................................................................................................... 21XXIV. MISCELLANEOUS .............................................................................................. 21XXV. STATEMENTS MADE BY SALES STAFF AND BROKERS ............................... 25XXVI. EFFECTIVE DATE .............................................................................................. 26

DISCLOSURE STATEMENT

- for -


THIS DISCLOSURE STATEMENT is executed in conjunction with and by this reference incorporated into the Purchase Agreement (the “Agreement”) dated as of _______________________________________________________, 20____ between ________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”) respecting Lot _______ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, located in the Community known as Latitude Margaritaville at Daytona Beach. Minto Communities, LLC, a Florida limited liability company, its successors and assigns (hereinafter referred to as “Seller” or “Declarant”), is pleased to provide Purchaser with this Disclosure Statement for Latitude Margaritaville at Daytona Beach (the “Disclosure Statement”), as well as various documents referenced in this Disclosure Statement and the documents listed on the Receipt for Community and Other Documents (hereinafter collectively referred to in this Disclosure Statement as the “Community Documents”). The Community Documents contain various legal documents relating to the planned community known as Latitude Margaritaville at Daytona Beach (the “Community”). This Disclosure Statement explains certain terms which are applicable to the purchase of a home (individually a “Home” and collectively “Homes”) within the Community. Current plans are for the Seller to build single family dwelling units, detached and/or attached, including, without limitation, homes on 50’ lots, homes on 60’ lots, and attached homes or paired villas in the Community. The development of the Community will occur in phases over a period of years. Other builders besides the Seller may build Homes within the Community. Seller shall have the right, without notice to Purchaser, to make changes to the Community, including, but not limited to, Home sizes, number of Homes being built in the Community, size, style and type of Homes being built in the Community, features and materials in Homes being built in the Community, prices of Homes in the Community (whether more or less than currently published), price per square foot of Homes in the Community (whether more or less than currently published), number and size of homesites in the Community, street layout, amenity layout, and usage, location, size and number of trees, bushes and other foliage and landscaping (current and future), and any other items or uses which are currently planned for the Community. Seller makes no representations or warranties that Seller will be the exclusive builder in the Community, or that the Community will be built out exactly as currently planned. Seller expressly reserves and has the right to make whatever changes it deems necessary relating to future development or build-out of the Community as well as changes to the Declaration (as defined below), which changes will not give Purchaser any right to cancel the Agreement. Any current maps

or other materials showing any final or projected Community development may be modified or updated in the future.

This Disclosure Statement is intended to acquaint Purchaser with the current plan of development for the Community by assisting Purchaser in understanding the Community Documents. However, this Disclosure Statement is not intended to be, and should not be considered, a substitute for reading the Community Documents. For a more detailed explanation of any sections or provisions contained in this Disclosure Statement, refer to the Community Documents. All initially capitalized terms not defined in this Disclosure Statement shall have the meanings set forth in the Declaration of Covenants, Conditions, Restrictions and Easements for Latitude Margaritaville at Daytona Beach (as amended, supplements and/or modified from time to time, the “Declaration”).

I. PLAN OF DEVELOPMENT.

The Community is master-planned, and the Declarant is currently seeking approval to construct approximately 6900 Homes as defined in the Declaration, with Phase 1 of the Community containing 3098 Homes, however these numbers are not guaranteed and the Community may contain more or less than 6900 Homes, and more or less than 3098 Homes in Phase 1. Currently it is intended that the Community will contain both single-family homes (“Detached Homes”) and attached homes or paired villas (“Attached Homes”), and there may be other product types (i.e. condominiums) in the Community. The actual plans and specifications for the Community are available for inspection at the Seller’s office upon request. The surrounding areas outside of the Community may be developed into future residential, commercial, retail, and industrial uses including shopping centers, stores, office buildings, showrooms, industrial facilities, technological facilities, and professional offices. Purchaser understands, acknowledges and agrees that Seller does not represent or warrant how the Community or surrounding areas will be ultimately developed.

SELLER HAS MADE NO REPRESENTATIONS OR PROVIDED ANY ASSURANCES WITH REGARD TO DEVELOPMENT OF HOMESITES IN AND AROUND THE COMMUNITY. HOMESITES IN AND AROUND THE COMMUNITY, MAY REMAIN UNDEVELOPED AT THE SOLE DISCRETION OF SELLER OR OTHER BUILDERS IN THE COMMUNITY (IF ANY). PURCHASER ACKNOWLEDGES THAT SELLER HAS MADE NO REPRESENTATIONS OR PROVIDED ANY ASSURANCES, STATED, IMPLIED, OR OTHERWISE WITH REGARD TO SELLER BEING THE SOLE OR EXCLUSIVE BUILDER WITHIN THE COMMUNITY. SELLER HAS MADE NO REPRESENTATIONS OR PROVIDED ANY ASSURANCES, STATED, IMPLIED OR OTHERWISE WITH REGARD TO SELLER AND/OR OTHER BUILDERS IN THE COMMUNITY CONTINUING TO BUILD IN THE COMMUNITY THROUGH FINAL BUILDOUT AND/OR BUILDING UPON ANY UNDEVELOPED HOMESITE(S). FURTHERMORE, IT IS UNDERSTOOD THAT NO REPRESENTATIONS, ESTIMATES OR PROJECTIONS HAVE BEEN CONVEYED REGARDING THE FINAL BUILDOUT TIME OF ANY UNDEVELOPED HOMESITE(S) OR THE OVERALL COMPLETION SCHEDULE OF THE COMMUNITY. PURCHASER ACKNOWLEDGES THAT SELLER

CONSTANTLY EVALUATES PRICING, DESIGNS AND PRODUCT MIX AND SELLER MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING WHETHER SELLER WILL CONTINUE TO BUILD HOMES WITHIN THE PURCHASER IS NOT RELYING ON ANY OF THE FOREGOING IN DECIDING TO PURCHASE THE PROPERTY.

II. ASSOCIATION MEMBERSHIP.

A. Upon conveyance and recording of the deed to a Home, Purchaser will then become a member of the Latitude at Daytona Beach Homeowners Association, Inc. (the “Association”), which is responsible for the operation and management of the Community, including the maintenance, repair and administration of those Common Areas as designated in the Declaration. Purchaser understands that as a member of the Association, Purchaser will be required to pay Assessments (as defined in Section IV below) to the Association including Individual Lot Assessments, Special Assessments, Benefited Assessments, and Service Area Assessments (all as defined in the Declaration), and reserves for the operation of the Community and for the maintenance of the Common Areas and for such other uses and purposes as are provided for in the Declaration. A failure to pay Assessments to the Association when due could cause the Association to record a lien on the Home and to foreclose such lien. Assessments are subject to increases in the manner currently provided for in the Declaration. Declarant and the Association cannot estimate the amount or frequency of any such increases. The Association may be controlled by the Declarant until the expiration or earlier termination of the Declarant’s Control Period, as defined in the Declaration (or at such earlier time as may be required by law).

B. The Articles of Incorporation and By-Laws of the Association provide for the creation of the Association and the guidelines for its internal workings and administration. The Declaration provides for certain property rights and easements, membership in the Association, required and permitted services of the Association, Assessments on Owners to fund the Association, lien rights of the Association on Homes to enforce payment of Assessments, use restrictions on Owners and their Homes, and other provisions. THE DECLARATION CONTAINS MANY IMPORTANT RIGHTS AND OBLIGATIONS AND SHOULD BE READ AND UNDERSTOOD BY PURCHASER.

C. Purchaser acknowledges that nominees of Seller may serve as the initial officers and directors of the Association. The officers and directors and the management company for the Association (which may be an affiliate of Declarant) are authorized by Purchaser to act for and on the behalf of the Association. Declarant may, but is not required or obligated to, advance monies to the Association for operations. In the event such advances are made, they will be considered a loan from Declarant to the Association, and the Association will be obligated to repay such advances as set forth in the Community Documents.

D. Each Owner will have one (1) vote in the Association for each Home owned by them. In the event there is more than one (1) Owner with respect to a Home,

such Owners collectively shall be entitled to only one (1) vote. Until the Class C Membership ceases as provided in the Articles and By-Laws of the Association (the “Turnover Date”), the Declarant shall have the total number of votes of the Class “A” Members and Class “B” Members plus one (1). After the Turnover Date, Declarant shall have one (1) vote in the Association for each Home owned by the Developer.

E. The Architectural Review Board of the Community (“ARB”), appointed by the Board of Directors of the Association, regulates the permitted construction, alteration, and modification of improvements within the Community, as more fully described in Article IV of the Declaration. Until the termination of the Development and Sale Period, as defined in the Declaration, or until such earlier time as the Declarant, in its sole option, may elect to terminate the Development and Sale Period by recorded instrument, Declarant has the exclusive authority to control the ARB, administer and enforce the architectural controls, including the Architectural Guidelines, and to review and act upon all applications for architectural and other improvements within the Community. Unless and until the Declarant delegates any of its architectural approval rights to the ARB or the termination of the Development and Sale Period, the Declarant has the sole authority and jurisdiction over architectural matters. Upon delegation by Declarant or termination of the Development and Sale Period, the members of the ARB shall be appointed by the Board of Directors of the Association and shall consist of at least three (3), but not more than five (5) persons. Members of the ARB need not be Members of the Association or representatives of Members, and anyone serving on the Board of Directors of the Association shall not be allowed to serve as a member of the ARB. No improvements, including, by way of example and not of limitation, accessory structures, exterior lighting fixtures, brick pavers, stamped concrete, concrete flatwork, basketball hoops, gym sets and play structures, buildings, fences, walls, pools, roofs, gutters or rain spouts, antennae, aerials, microwave reception devices, mailboxes, external enclosures or attachments (including entry screen and patio screen enclosures), or landscaping (including hedges, massed plantings and trees) can be commenced, erected, installed, altered, modified, painted, planted, or maintained on the Community, including the Homes, nor can any canopies, shutters, or window coverings be attached to or placed upon outside walls or roofs of any Home or building by any Owner other than Declarant, unless such improvements have been reviewed by and received the prior written approval of the Reviewer (as defined in the Declaration), and the Owner has made any necessary security deposit as required by the Reviewer. No landscaping or other improvements beyond the buildable areas on the Homes abutting lakes which materially interfere with the view of the lakes by immediate neighbors are permitted. Purchaser acknowledges that all new construction and modifications of existing construction and exteriors of improvements within the Community are subject to the prior written approval of the Reviewer. Architectural control by the Reviewer (i.e. Declarant or ARB) includes, but is not limited to, size, height, setbacks, exterior design, fences and screening, materials, colors, landscaping, waterscaping and aesthetic criteria. In addition, Purchaser must comply with all rules and regulations and design guidelines of the ARB, including the Architectural Guidelines that may be adopted as provided in the Declaration and as the same may be amended and exist from time to time. These restrictions, as well as Architectural Guidelines, are subject to change without notice. Building and use restrictions include, but are not limited to, residential

and nonresidential uses, building specifications, accessory structures, nuisance, Home occupancy, signage, antennas, animals, driveways, vehicle parking, rubbish, utility and drainage easements, clothes lines, fences, special rights of Declarant, and leases and restoration of Homes. Purchaser must not commence any construction until after the Reviewer has given its written approval therefore. In addition, Purchaser must not make any modifications of any existing buildings and improvements, including, but not limited to, landscaping and landscape irrigation, without the prior written approval of the Reviewer and until any applicable and necessary governmental approvals and permits have been obtained. Improvements constructed by Declarant are exempt from the requirements set forth in Article IV of the Declaration. Approval of any work by the Reviewer shall not constitute an express or implied warranty or representation by the Reviewer that any work complies with applicable codes, ordinances or other governmental regulations, or that the work is well designed or will be constructed in proper manner. Decks, fences and landscaping are the more common, although not the only, improvements for which architectural approval is required. For more information concerning architectural review, please review the Declaration, including Article IV of the Declaration.

Failure to submit plans and specifications to the Reviewer for approval, and any construction, alteration, improvement or other work done in violation of the Architectural Guidelines and requirements of the Declaration, is a violation of the Declaration, subject to enforcement pursuant to Section 7.4 of the Declaration including, without limitation, sanctions and/or the imposition of fines, and the removal, at the Owner’s expense, of any non-approved construction, modifications and/or landscaping. In addition, every city and county has building codes and other ordinances that regulate what is permissible within its jurisdictional limits. Prior to making changes to the Home, Purchaser should contact the applicable governmental authorities for further information concerning local codes and ordinances. Neither Declarant nor the Association is responsible for notifying Owners of the content or restrictions contained in any local codes or ordinances.

III. MAINTENANCE OBLIGATIONS.

A. The maintenance obligations of the Association are described in the Declaration (including Article V, Section 5.1(b), Article VII, Section 7.2, and Article XXI, of the Declaration). These maintenance obligations include maintenance of the Common Areas and facilities, including, without limitation all Association buildings and appurtenant furniture, fixtures and equipment (including the Amenity Center), Conservation Areas, all landscaping and irrigation systems, all improvements in the Common Areas, Stormwater Management System, private streets and associated street lighting, signage, perimeter walls and/or fencing, entry features, and access control facilities as more fully described in the Declaration.

B. In addition to maintenance of the Common Areas as provided in the Declaration, the Association is generally responsible for all exterior landscaping within the Community, including mowing, fertilizing, edging, watering, pruning and replacing all lawns and landscaping installed on Lots as part of the initial construction of the Lots, but

excluding any landscaping which is within an enclosed area not readily accessible from outside a Home. The Association is also responsible for maintenance and repair of irrigation equipment (i.e. sprinkler systems, wells, water lines, time clocks) serving the Lots, as well as drainage swales, drainage lines and other equipment installed as part of initial construction of a Lot for the purpose of managing and/or containing the flow of excess water.

C. In addition to the maintenance of the Common Areas as provided in the Declaration, and maintenance of exterior landscaping and irrigation systems on Lots, the Association is responsible for maintaining, repairing and replacement of (i) party roofs of Attached Homes other than any roof drainage fixtures which are the maintenance responsibility of the Attached Home, and (ii) painting of Attached Homes.

D. Except as may be otherwise specifically provided in the Declaration, Owners are responsible for the maintenance, repair and upkeep of their Homes and any appurtenances or attachments thereto, in a manner consistent with the Community Documents and the Community-Wide Standard. Such maintenance includes, but is not limited to, keeping all drainage structures located on an Owners Lot free from grass, leaves and other debris. Owners of Detached Homes are also responsible for painting, caulking and maintenance of the exterior surface of all walls, doors, windows, and roof of a Home, and Owners of Attached Homes are responsible for periodic cleaning of the exterior walls and roof of an Attached Home. For more information please see the Declaration, including Articles V, Section 5.1(a) of the Declaration, and Article XXI of the Declaration relating to maintenance and repair of Attached Homes.

E. DECLARANT HEREBY PROVIDES NOTICE TO ALL PURCHASERS AND OWNERS AND THEIR FAMILY MEMBERS, GUESTS, TENANTS, LICENSEES AND INVITEES (COLLECTIVELY, “USERS”) OF THE POTENTIAL DANGERS ASSOCIATED WITH THE USE OF COMMON AREAS OF THE COMMUNITY, INCLUDING, WITHOUT LIMITATION, THE WATERBODIES ASSOCIATED WITH THE COMMUNITY. ALL USERS USE THE COMMON AREAS AT THEIR OWN RISK, AND ASSUME ALL RISKS AND LIABILITIES ASSOCIATED WITH ANY PERSONAL INJURY OR PROPERTY LOSS THAT MAY RESULT IN CONNECTION WITH THE USE OF THE COMMON AREAS. NEITHER DECLARANT NOR THE ASSOCIATION MAKES ANY REPRESENTATION OR WARRANTY WITH RESPECT TO THE SAFETY OF ANY RECREATIONAL FACILITIES WITHIN OR ASSOCIATED WITH THE COMMON AREAS.

IV. AMENITIES FACILITIES.

A. It is currently anticipated that the Community will contain an amenities center will include recreational facilities and amenities plus related facilities and equipment including a food and beverage facility, fitness center and pickle ball courts which are estimated to be available for use by November 2019; a beach club which is estimated to be available for use by January 2023, subject to market conditions and the start date of which and estimated date of availability are based on a minimum of 500 closed homes; and multi-purpose rooms, fitness center, pool, tennis courts and bocce

ball courts which are estimated to be available for use by May 2025, subject to market conditions and the start date of which and estimated date of availability are based on a minimum of 1000 closed home. In the event the referenced minimum number of closed homes has not been met, then the start of construction will be delayed until the minimum numbers have been met. Purchaser understands, acknowledges and agrees that the size, actual design, and facilities to be included as part of the amenities center are subject to change; provided, however, the facilities indicated in the preceding sentence will be completed as indicated. Other than the estimated dates when the referenced facilities will be available for use as indicated above, no commitment, representation or warranty is made concerning the timing of construction, design or capacity of the amenities facilities, and in no manner shall Declarant be deemed to be obligated to provide any or all the contemplated amenities facilities except as otherwise provided herein. Subject to developer’s obligation to complete the facilities referenced above, prior to the end of the Development and Sale Period (as defined in the Declaration), the amenities center and related facilities are subject to change at any time at developer’s sole and absolute discretion. Other than the obligation to provide the facilities referenced above for use by the dates indicated above, neither Declarant nor the Association makes any representations whatsoever to commence, complete, or construct the amenities center or any amenities facilities within any specified time period.

B. PURCHASER ACKNOWLEDGES, UNDERSTANDS AND AGREES THAT ACTIVITIES AND/OR EVENTS SUCH AS CONCERTS, SHOWS, PERFORMANCES, SOCIAL AND OTHER EVENTS MAY BE HELD WITHIN THE AMENITIES CENTER DURING THE DAY AND AT NIGHT, AND THAT SUCH ACTIVITIES AND EVENTS MAY CAUSE, AMONG OTHER THINGS, NOISE, VIBRATIONS, INCREASED TRAFFIC, LIGHTING, PEDESTRIAN ACTIVITY AND OTHER IMPACTS, CONSEQUENCES, RESULTS AND EFFECTS (“EFFECTS”) WHICH MAY BE SEEN AND/OR HEARD FROM HOMES AND THE COMMUNITY, OR OTHERWISE AFFECT PORTIONS OF THE COMMUNITY, INCLUDING HOMES. PURCHASER UNDERSTANDS, ACKNOWLEDGES AND AGREES (A) THAT SUCH EFFECTS SHALL NOT BE DEEMED A NUISANCE UNDER THE DECLARATION OR OTHERWISE, (B) THAT NEITHER DEVELOPER NOR ASSOCIATION SHALL BE LIABLE FOR THE EMANATION OF SUCH EFFECTS AND/OR ANY DAMAGES RESULTING THEREFROM, AND (C) TO HAVE RELEASED DEVELOPER AND ASSOCIATION FROM ANY AND ALL LIABILITY RESULTING FROM SAME. BY ACQUIRING TITLE TO A HOME, PURCHASER WILL BE DEEMED TO HAVE ASSUMED THE RISKS, RESULTANT CONSEQUENCES, AND EFFECTS ASSOCIATED WITH AND/OR RESULTING FROM ACTIVITIES AND/OR EVENTS TAKING PLACE WITHIN THE AMENITIES CENTER.

V. COMMUNITY CHARGES.

A. Assessments. The estimated operating budget for the Association has been provided to Purchaser. The budgets include projected assessments due to the Association (“Assessments”) and should be carefully reviewed, including all supplementary notes. Assessments are estimated at this time to be (a) $793.96 per

quarter or $3175.84 per year for Homes on 60’ lots, (b) $778.96 per quarter or $3115.84 per year for Homes on 50’ lots, and (c) $868.13 per quarter or $3472.52 per year for Attached Homes. The estimated operating budgets for the Association are only estimates of what it will cost to run the Association during the time period stated in the budget and many of the expenses in the budget are beyond the control of the Association. The Association may make changes in the budgets at any time to cover increases or decreases in expenses or estimates in the budgets or in connection with additional phases of the development, and estimated Assessments may increase prior to Closing. Without limiting the generality of this Section, those changes will not give Purchaser any right to cancel the Agreement.

B. Allocation of Assessments. Purchaser acknowledges, understands and agrees that, with the exception of Benefited Assessments, Service Area Assessments, and certain Special Assessments, if any (all as defined in the Declaration), Assessments will be allocated equally to Owners of each Home type, so that each Owners of each Home type will pay the same amount of Individual Lot Assessments; provided, however, Individual Lot Assessments will differ for Completed Lots and Incomplete Lots. Individual Lot Assessments will differ for each Home type as landscaping charges are different for each Home type, and certain reserves are collected for Attached Homes that are not collected for Detached Homes. For more information on Individual Lot Assessments, Purchaser should refer to Articles VIII and IX of the Declaration.

C. Working Capital Contribution. Purchaser acknowledges that among other assessments provided for in the Community Documents, Declarant or the Association has the right to establish a capital contribution (“Working Fund Contribution”) for the Association. Currently a Working Fund Contribution has not been established. If a Working Fund Contribution is established in the future, Purchaser acknowledges, understands and agrees that upon conveyance of the Home, a Working Fund Contribution in an amount determined by the Declarant or the Association will be payable to the Association at closing. The Working Fund Contribution may be used for any purpose not expressly prohibited by the Declaration or Florida law. Purchaser acknowledges and agrees that the Working Fund Contribution is in addition to the Assessments and is not to be considered an advance payment of Assessments. For more information on the Working Fund Contribution, Purchaser should refer to Section 9.10 of the Declaration.

D. Latitude at Daytona Beach Foundation Fee. Purchaser acknowledges, understands and agrees that a fee (“LDBF Fee”) payable to Latitude at Daytona Beach Foundation, Inc. (“LDBF”), a foundation to be utilized for local environmental advocacy programs, environmental education, community initiatives and community programs, as provided in the Declaration, will be collected from the Purchaser at closing of the purchase of the Home. The LDBF Fee will constitute an Assessment against the Home until paid and is in addition to the other Assessments set forth in the Declaration. The ICF Fee will be collected upon the initial sale of a Home by Declarant and on every subsequent resale of a Home by the Owner by a person taking title to the Home, as

more particularly provided in Article XXIII of the Declaration. For more information on the ICF Fee, Purchaser should refer to Article XXIII of the Declaration.

E. Special Assessments. Purchaser acknowledges that the Association may establish Special Assessments (as defined in the Declaration) for, among other things, capital improvements, major repairs, casualty losses, emergencies, and/or non-recurring expenses. For more information on Special Assessments, Purchaser should refer to Article VIII, Section 8.2 of the Declaration, and Article IX, Section 9.3 of the Declaration.

F. Benefitted Assessments. Purchaser acknowledges that the Association may establish Benefitted Assessments (as defined in the Declaration) for which costs are by their nature applicable only to one or more, but less than all Homes, to cover the costs of providing special services to such Home(s), to repair, restore and maintain the Home as required by the Community Documents and the costs incurred in bringing the Home in compliance with the Community Documents. For more information on Benefitted Assessments, Purchaser should refer to Section 9.6 of the Declaration.

G. Service Area Assessments. The Association has the right, but not the obligation, to maintain and provide services for a specific Service Area (as defined in the Declaration). Purchaser acknowledges that the Association may establish Service Area Assessments (as defined in the Declaration) to cover the costs associated with the provision of services or benefits to a specific Service Area and the costs of operating, maintaining, repairing, replacing and/or insuring portions of the Common Areas adjacent to a specific Service Area (as defined in the Declaration). For more information on Service Area Assessments, Purchaser should refer to Sections 7.10 and 9.5 of the Declaration.

H. Reserves. Purchaser acknowledges that the Association may, but shall have no obligation, to include a “Reserve for Replacement” as part of Assessments in order to establish and maintain an adequate reserve fund for the periodic maintenance, repair and replacement of improvements comprising a portion of the Common Areas (“Reserves”). For more information about Reserves, Purchaser should refer to Section 9.7 of the Declaration.

VI. AGE RESTRICTED COMMUNITY.

A. The Community is an age-restricted community complying with the federal Fair Housing Act, Title VIII of the Civil Rights Act of 1968, the Fair Housing Amendments Act of 1988, 42 U.S.C. 3607, the Housing for Older Persons Act of 1995, 42, U.S.C. 3607(b)(2)(C) and the Florida Fair Housing Act, Sections 760.20 through 760.37 of the Florida Statutes (together with all regulations adopted thereunder, and as amended from time to time, the “Acts”). With certain exceptions as noted below, residential structures located within the Community are intended for housing of persons fifty-five (55) years of age or older. Owners shall be responsible for clearly disclosing and including the statement that housing in the Community is intended for housing of persons fifty-five (55) years of age or older, whether in any lease, occupancy agreement

or contract for sale. No person may occupy any residential structure in the Community in violation of these restrictions, all of which are more fully set forth in the Declaration.

B. At least eighty (80%) of the occupied Homes within the Community shall at all times have as a permanent occupant therein at least one (1) person who is fifty-five (55) years of age or older (the “Qualifying Occupant”); provided, in the event of the death or divorce of a person who was the sole Qualifying Occupant of a Home, the surviving or divorced spouse of such Qualifying Occupant may continue to occupy such Home if such spouse was a permanent occupant prior to the death or divorce so long as the provisions of the Acts are not violated by such occupancy. An occupant shall not be considered a “permanent occupant” unless such occupant resides in the Home for at least eight (8) weeks per year. Upon written petition, the Board of Directors of the Association may grant a waiver of this age restriction if the result of such waiver would be that at least eighty percent (80%) of the occupied Homes in the community would be occupied by at least one (1) person fifty-five (55) years of age or older. The Board of Directors of the Association may grant such a waiver subject to the terms and conditions as the Board of Directors of the Association deems necessary to protect the retirement character of the Community. No Home shall be permitted to have any permanent occupant under the age of eighteen (18) years of age at any time. No Home shall be rented or sold unless at least one person who will occupy the Home is a Qualifying Occupant.

C. In the event of any change in occupancy of any Home, whether it be the result of transfer of title, lease or sublease, birth or death, change in marital status, vacancy, change in location of permanent residence, or otherwise, the Owner of a Home must immediately notify the Association’s Board in writing and provide the Board the names and ages of all current occupants of the Home and such other information deemed necessary by the Board to allow it to verify the ages of each occupant. The Association shall maintain age records on all occupants of Homes, and may adopt policies, procedures, and rules to monitor and maintain compliance with the age restrictions. The Association shall have the authority to enforce its policies, procedures and policies regarding age restrictions, and the Declaration provides that each Owner has appointed the Association as its Attorney-in-Fact for the purpose of taking legal action necessary to enforce compliance with the age restrictions. Each Owner (including Purchaser) is responsible for ensuring that his/her/its Home is in compliance with the requirements of the Acts, the Declaration and all procedures and policies adopted by the Association.

VII. SALE-LEASE.

Declarant has no present plan or program to engage in a program of leasing Homes in the Community, in addition to selling them, or leasing Homes and selling them subject to a lease. However, Declarant reserves the right retain ownership of Homes and lease them, or lease them and sell them subject to such lease, based on, among other things, market conditions. In addition, although Declarant has no present plan or program of leasing, Declarant may enter into leases with respect to some Homes.

Therefore, Purchaser should inquire of Declarant if any rentals exist in the Community at the time Purchaser enters into the Agreement.

VIII. USE RESTRICTIONS.

Every Home is subject to building and use restrictions as set forth in Article III and Exhibit B of the Declaration. These restrictions are subject to change without notice. Building and use restrictions include and may affect, among other things, residential and nonresidential uses, building specifications, accessory structures, nuisance, occupancy, garage and yard sales, mailboxes, signage, antennas, satellite dishes, animals, driveways, vehicle parking, hurricane shutters, holiday lights, sports equipment, rubbish, utility and drainage easements, clothes lines, fences, special rights of Declarant and builders, and leases and restoration of Homes. Seller encourages Purchaser to carefully review the Declaration to ensure the long-term quality of life for both Purchaser and Purchaser’s neighbors.

IX. COUNTY AND MUNICIPAL BUILDING CODES AND ORDINANCES.

The Community is located within Volusia County (“County”) within municipal limits of the City of Daytona Beach (“City”). Every county and city has building codes and other ordinances that regulate what is permissible within their respective jurisdictional limits. Prior to making changes to Purchaser’s Home, Purchaser should contact the County and the City for further information concerning local codes and ordinances. Neither Declarant nor Association is responsible for notifying Purchaser or any homeowner of the content or restrictions contained in any local codes or ordinances.

X. PETS.

Owners and residents may keep domestic, common household pets as permitted by County and City ordinances, and otherwise in accordance with the Declaration and any rules and regulations established by the Association. The only pets allowed in the Community are those that are in accordance with the restrictions contained in the Community Documents or any amendments thereto. The Declaration restricts each Home to a limit of three (3) domestic pets (cats, dogs, and birds) as permitted by County and City ordinances and other governmental agencies and otherwise in accordance with any rules and regulations established by the Association. Other domesticated pets may be kept in a Home; however, the total number of pets in a Home may not exceed the number permitted by the Declaration and by the City, County and/or other governmental authorities. The restriction on the number of pets, however, does not apply to fish. Additional restrictions on the maintaining of pets can be found in Section 11 of Exhibit B to the Declaration.

XI. VEHICLES, PARKING, AND GARAGES.

A. Purchaser acknowledges that automobiles shall be parked in the garage or driveway of the Purchaser’s Home or other specifically designated parking areas. No vehicles of any nature shall be parked on any portion of the Community except on the

surfaced parking area thereof. No commercial vehicle, recreational vehicle, all-terrain vehicle, camper, motor home, trailer, boat (or other watercraft) and/or boat trailer may be parked within the Community. No vehicle shall be used as a domicile or residence either temporarily or permanently. Except for golf carts, all powered vehicles capable of exceeding five miles per hour (5 MPH) are prohibited from use within the Community unless they are properly licensed, registered and insured, and operated by a licensed driver. For further parking and vehicle restrictions, Purchaser should refer to Sections 24, 25 and 33 of Exhibit B to the Declaration.

B. Garage sizes and heights may vary from home to home and may not accommodate all vehicles. It is not uncommon for floor plans to change during actual construction of the Home. Specific homesite conditions or local ordinances may determine the location of (i) safety bollards intended to protect plumbing or mechanical systems located inside the garage and/or (ii) the design of steps from the garage to the Home thereby affecting the usability of interior garage space available for parking vehicles. Further, Purchaser acknowledges and agree that stated floor plan dimensions and square footages are approximate and should never be relied upon as the actual as-built size of the garage; modifications to floor plan dimensions and square footages shown in sales materials may occur for many circumstances, without notice to or consent of Purchaser, including, but not limited to, inclusions of options and upgrades, actual field conditions and governmental requirements.

XII. LEASING.

The Declaration contains restrictions on “leasing” of Homes, which includes the regular, exclusive occupancy of a Home by any person other than the Owner for which the Owner receives any consideration or benefit including, without limitation, a fee, service or gratuity. Homes are and will be subject to certain leasing restrictions and limitations, including, but not limited to, the following (i) leases of Homes in the Community must be for a minimum term of thirty (30) days and no lease shall provide for an early termination which would reduce the term to a period of less than thirty (30) days, (ii) no Home may be leased more than three (3) times within any twelve (12) month period, (ii) Homes may only be leased in their entirety and no fraction, portion, or room of a Home may be rented, and (iii) at least one (1) intended occupant is fifty-five (55) years of age or older at the time of occupancy unless otherwise approved by the Board. All leases must be in writing and comply with the requirements of Section 3.1(b) of the Declaration including, without limitation, an acknowledgement by the tenant that the tenant has received a copy of the Community Documents and that the tenant and all occupants are bound by and obligated to comply with the Community Documents. The Association has the right to terminate any lease upon failure of the tenant and other occupants to comply with the Community Documents. At least ten (10) days prior to commencement of a lease, the Owner must provide the Association with a true, correct and complete copy of the lease agreement and such additional information the Board may reasonably require. The Board may, from time to time, adopt reasonable Use Restrictions and rules regulating leasing. No subleasing is permitted. Additional restrictions and requirements relating to leasing of Homes can be found in the Declaration, including Section 3.1(b) thereof.

XIII. MANAGEMENT.

A. The Association has entered or will enter into a management contract (the “Association Management Agreement”) with a management company (“Association Management Company”) and/or property manager (“Association Manager”) for management of the Association. The Association Management Company may be an entity which is related to, or affiliated with, Declarant. In addition, it is currently contemplated that the Association Manager will be an employee of Declarant or an affiliate of Declarant. Owners acknowledge, understand and agree that Declarant or its affiliated or related entity may, and that it is fair and reasonable to have Declarant, its affiliated and/or related entity, manage the Association and/or employ the Association Manager. The costs associated with the Association Management Agreement and/or the Association Manager will be part of Operating Expenses of the Association and paid for by Owners through Assessments collected by the Association. The nature of the services to be provided by the Association Manager include property management and general administrative services, including, but not limited to, general administration, supervision and maintenance of the Common Areas, collection of Assessments, accounting for funds, and preparation of budgets. This is not a complete list, but merely an example of the types of services to be provided.

B. In addition to the Association Manager, it is anticipated that Association will retain the services of a lifestyle facilities manager (“Lifestyle Manager”). It is currently contemplated that the Lifestyle Manager will be employed by Declarant or an affiliated or related entity. Owners acknowledge, understand and agree that the Lifestyle Manager may be an employee or Declarant or its affiliated or related entity and that it is fair and reasonable to have Declarant, its affiliated or related company to employ the Lifestyle Manager. The Lifestyle Manager will have responsibilities distinct and separate from the Association Manager including, without limitation, overseeing the restaurant facilities. The Lifestyle Manager will also be responsible for overseeing and/or supervising the Association Manager.

XIV. IRRIGATION SYSTEM.

The water used in the irrigation system is not suitable for drinking or water sports. Children and pets should not play in the water and the water should not be ingested by humans or pets. Due to the water quality, irrigation systems may cause staining on Homes, other structures, paved areas and vehicles. Declarant cannot detect in advance which water supply may stain Homes, other structures, paved areas, or vehicles. It is each Owner’s responsibility to treat and remove any such staining from such Owner’s Home. Association may require from time to time that Owners adopt systems to prevent stains, i.e. automatic deionization systems. A computerized loop system may be utilized to irrigate the Community, Common Areas and/or Homes. Any computerized loop irrigation system that is not specifically the maintenance obligation of an Owner shall be the maintenance obligation of the Association and shall be deemed part of the Common Areas of the Community. If Purchaser desires to make any alterations or improvements to his/her/its Home that in any way affect a loop irrigation system, then Purchaser shall be responsible for taking measures to “cap off” the main

line of the loop irrigation system that leads to the Home. In addition, Purchaser shall be obligated to obtain the prior written approval of the Declarant, ARB and/or Association, as applicable, before taking any action that may affect the irrigation system. Once the main line is “capped off,” Purchaser shall then be responsible for his or her irrigation system. Any damages to the Home or damage to any other Home(s) connected to the loop irrigation system resulting from a Purchaser’s failure to comply with the terms set forth in this Paragraph and/or in the Community Documents shall be the sole responsibility of such non-complying Purchaser, and Declarant and Association shall not be liable for the same.

XV. UTILITIES.

A. Septic Tanks and Wells. No individual wells or septic tanks will be permitted in the Community unless installed as part of the initial construction by Declarant. No individual sewage disposal system shall be permitted in the Community.

B. Storm and Surface Water Drainage. Some Homes and Lots may contain or be adjacent to drainage and utility structures such as, but not limited to, storm water overflow swales, buffers, storm water catch basins, manholes, fire hydrants, electrical transformers, switch boxes, telephone pedestals and streetlights. None of these items shall be altered, obstructed, buried, modified, restricted or interfered with in any manner whatsoever and no person shall alter the drainage flow of the surface water or storm water management system without the prior written approval of the St. Johns River Water Management District (“SJRWMD”), and the Association. Overflow swales are generally only utilized for overflow storm water capacity as a result of water drainage. In some cases, water may flow from one Home to another. State law may provide that the owner of the Home receiving water is required to accept the water flow and may not impede the flow of this water. Declarant strongly recommends that Purchaser consult with a licensed landscape architect and civil engineer before performing any work or making any changes that may affect the existing drainage pattern.

C. Water. The City provides water and sewer service to the Community. Because the Declarant does not control the water supply, Declarant cannot guarantee the quality of the water provided to the Community. In addition, this area is periodically subjected to extended periods of drought that may cause depletion of water supplies. Counties and other providers of water services in the area of the Community (including the County and SJRWMD) may enact mandatory or voluntary cut backs or other restrictions in water usage. Declarant has no control, influence, responsibility or liability for or over decisions concerning water rationing.

D. Gas. TECO Peoples Gas provides natural gas to the Community and is responsible for the natural gas delivery system to the community including, without limitation, gas distribution systems made up of pipelines, mains and service lines.

E. Utility Meters. Water, electricity, and natural gas usage for each Home will be measured by a separate water meter and electric meter for each Home (other than water irrigation which shall be part of Operating Expenses of the Association). Each

Owner will receive a separate water bill from the County and will pay for water and sewer service to the Home directly to the County. Such bills will not include water service to the Common Areas which will be paid for as part of Assessments. In addition, each Owner will receive an electric bill from Florida Power & Light (“FPL”) and will pay for electricity service to the Home directly to FPL, and each owner will pay for gas service to the Home directly to TECO Peoples gas.

F. Underground and Overhead Utility Lines. The Community contains underground and overhead utility lines. Certain utility facilities including, but not limited to, water and sewer lines, electrical lines and natural gas lines, have been or will be buried underground within the Community and may be located under roads, walkways, and other improvements. If Purchaser has any questions about utility rates, services, safety, or anything else to do with overhead or underground transmission or utility lines, Purchaser should contact the utility companies directly. Because Seller values Purchaser’s safety and that of Purchaser’s neighbors, no excavation or trenching should be done without first calling the utility companies for the location of buried utilities. This is especially important in utility easements where buried utility equipment is probable. Digging without advance notification and approval of the utility companies may be illegal, is dangerous and can result in severe personal injury or death to Purchaser and Purchaser’s neighbors, and can also result in severe property damage to Homes, property and utility equipment.

G. Telecommunication Services. At this time, Association does not intend to enter into an agreement with a cable television company (“Cable Provider”) for the provision of bulk cable television or other telecommunications services for the Community (“Cable Agreement”). Each Owner will be responsible for obtaining cable television and other telecommunications services from a Cable Provider and will pay for such services directly to the Cable Provider. Telephone service, internet service and cable is available from AT&T and Spectrum Cable. Each Owner will be billed directly for telephone and internet service and cable directly from the provider.

H. Streets and Street Lighting. All roads which are privately owned shall be maintained by Association. Association shall at all times maintain, repair, and replace any street lighting located within the Community, including, but not limited to, street lighting which lies within one or more lots. Association may enter into a street lighting agreement with FPL or other utility company for, among other things, maintenance, repair and replacement of street lights, the costs of which will be part of Operating Expenses of the Association and paid for by Owners as part of Assessments. Association will be responsible for electricity costs associated with street lighting, which costs will be paid by Owners as part of Assessments. Streetlights will be installed within the Community, some of which may be installed after Homes have been completed, sold and occupied. The sizes, location, placement, light output, installation, and design of streetlights within the Community are determined in accordance with governmental ordinances and regulations and/or the plans and specifications of the Utility Companies. Purchaser understands, acknowledges and agrees that streetlights could in some instances generate light into Homes or obstruct views from Homes; streetlights may be bright enough to be seen from within the Homes during evening hours. Purchaser

assumes the liability for any impact caused by streetlights that are visible from or generate light into Purchaser’s Property. Purchaser should contact the Utility Companies directly for further information concerning the streetlights in the Community. Purchaser acknowledges that Seller is not responsible for the installation or activation of the streetlights within the Community and specifically disclaims any responsibility therefore; (i) Seller does not control the streetlights (existing, planned or future) and (ii) any representations or warranties which relate to street lighting contained within the Community shall not be construed as representations or warranties made by Seller. Purchaser agrees that it will not rely upon such representations or warranties in determining whether to purchase the Home. Seller has no control or influence over the installation and activation of the street lighting. Seller, on behalf of itself, its agents, servants, employees, members, managers, directors, officers, affiliates, representations, receivers, subsidiaries, predecessors, successors and assigns, specifically disclaims any and all warranties concerning the installation and activation of street lighting within the Community, and Purchaser agrees to look solely to the responsible party with respect to any matter regarding the installation and activation of street lighting within the Community.

I. Utility Structure Disclaimers. Seller has no control, influence, responsibility or liability for or over the sizes, location, timing of installation, and placement of any and all electrical transformers, switch boxes, mailboxes, cable boxes, telephone pedestals, fire hydrants and lift stations (collectively, “Utility Structures”) which may be located within or adjacent to Purchaser’s Home, or the timing of the corresponding utilities services to Purchaser’s Home (“Utilities Services”). Applicable governmental authorities are responsible for regulation of the Utility Structures and those certain companies that provide Utilities Services to the Homes and Community (“Utility Companies”) are responsible for the size, location, timing of installation, timing of Utilities Services and placement of the Utility Structures in the Community. Utility Companies have been afforded certain additional rights in accordance with utility easements, rights-of-way, and/or agreements affecting Purchaser’s Home relating to telephone, cable, gas or electric lines, and reservation on any plat of the Community. These easements, rights-of-way, agreements and plat reservation grant the Utility Companies certain rights, easement rights, and right-of-entry to install, maintain, repair and relocate Utility Structures within easement areas depicted and described therein. If a Utility Structure (existing, planned or future) is located in front of a Home, Seller cannot remove or relocate it. Purchaser understands that as of the date of Purchaser’s execution of the Agreement and this Addendum, the Community may not be completely built out, and all of the Utility Structures planned for Purchaser’s Home and the Community may or may not be installed or currently visible. Seller and its agents, servants, employees, directors, officers, managers, affiliates, representatives, receivers, subsidiaries, predecessors, successors and assigns shall not in any way be responsible for altering, modifying, relocating, or interfering in any way with Utility Structures (existing, planned or future) or for any claims, damages, losses, demands, liabilities, obligations, actions or causes of action whatsoever, including, without limitation, actions based on the size, location, placement, installation, design or view of Utility Structures from Purchaser’s Home. Purchaser further understands that Utility Structures shall not be altered, obstructed, modified, restricted, or interfered with in any manner whatsoever

without advance notification and approval of the Utility Companies. Any unauthorized alteration, obstruction, modification, restriction or interference with a Utility Structure may be illegal, is dangerous, can result in injury, loss or property damage. If Purchaser has any questions about Utility Structures or Utilities Services, Purchaser should contact the Utility Companies.

XVI. WATERBODIES.

ALL WATERBODIES WITHIN THE COMMUNITY ARE DESIGNED AS WATER MANAGEMENT AREAS AND ARE NOT DESIGNED AS AESTHETIC FEATURES. THE WATER LEVELS OF THE WATERBODIES, LAKES, PONDS OR OTHER WATERWAYS WITHIN THE COMMUNITY MAY VARY. DUE TO VARYING CLIMATIC CONDITIONS, ENVIRONMENTAL CONDITIONS AND OTHER CAUSES OUT OF THE CONTROL OF THE DECLARANT AND ASSOCIATION, THE WATER LEVELS IN THE WATERBODIES MAY RISE AND FALL AS OFTEN AS DAILY AND ON OCCASION THE WATER LEVELS MAY DECLINE SIGNIFICANTLY AND RESULT IN CHANGES TO THE APPEARANCE OF THE WATERBODIES. WILDLIFE MAY HABITAT WATERBODIES AND POSE A THREAT TO PERSONS, PETS, AND PROPERTY. THERE IS NO GUARANTEE BY THE DECLARANT OR THE ASSOCIATION THAT WATER LEVELS WILL BE CONSTANT OR AESTHETICALLY PLEASING AT ANY PARTICULAR TIME; AT TIMES, WATER LEVELS MAY BE NONEXISTENT. THE WATERBODIES ARE USED AS STORMWATER DRAINAGE AREAS. NO SWIMMING, BOATING OR OTHER ACTIVITIES ARE PERMITTED IN THE WATERBODIES.

XVII. CONSERVATION AREAS.

A. The Community contains and may be adjacent to conservation areas, and Common Areas contain conservation areas including wetlands, mitigation areas, buffer areas, conservation easements, upland conservation areas, preserve areas, and littoral areas, including those areas dedicated, depicted and/or indicated on the Plat of Latitude at Daytona Beach Phase 1 as conservation areas (collectively “Conservation Areas”). The Conservation Areas may be dedicated by plat and/or protected by conservation easements, development agreements, and/or other agreements (“Conservation Area Documents”). The use of the Conservation Areas is restricted by the SJRWMD and may be further restricted by the Conservation Area Documents.

B. No Owner or other person shall alter Conservations Areas from their natural state and shall take no action or enter onto Conservation Areas so as to adversely affect the same. Owners are prohibited from clearing any Conservation Areas, including cutting; dumping any materials or disposing debris or fill into Conservation Areas; planting or introducing any nuisance or exotic species in or adjacent to Conservation Areas; removing native vegetation from Conservation Areas; applying herbicides, pesticides or other chemicals to Conservation Areas; dredging, digging or excavating Conservation Areas; constructing on Conservation Areas, removing or destroying of trees, shrubs or other vegetation from the Conservation Areas, or otherwise modifying Conservation Areas from their natural state. All

Conservation Areas are to be kept and maintained in their natural state and may be subject to restrictions required by the SJRWMD, which restrictions must be complied with at all times. All questions regarding the Conservation Areas and authorized activities within the Conservation Areas should be addressed to the Declarant, the Association, SJRWMD.

C. The following acts and activities, among others, are expressly prohibited in the Conservation Areas:

1. Construction or placing of buildings, roads, signs, billboards, or other advertising, utilities or other structures on or above the ground.

2. Dumping or placing of soil or other substances or material as landfill or dumping or placing of trash, waste, or unsightly or offensive materials.

3. Removing, mowing, trimming or destroying trees, shrubs, or other vegetation.

4. Using the surface areas of the Conservation Easement (as defined in the Declaration), except for purposes that permit the land or water area to remain predominantly in its natural condition.

5. Excavation, dredging or removal of loam, peat, grave, soil, rock or other material substance in such manner as to affect the surface.

6. Activities detrimental to drainage, flood control, water conservation, erosion control, soil conservation or fish and wildlife habitat preservation.

7. Acting upon or using the Conservation Easement in a manner detrimental to such retention of land or water areas.

8. Acting upon or using the Conservation Easement in a manner detrimental to the preservation of the structural integrity or physical appearance of sites or properties of historical, architectural, archaeological, or cultural significance.

9. Constructing or installing utilities on, below, or above the ground without appropriate local, state, and federal permits or other authorization.

10. Applying of herbicides, pesticides, or fertilizers.

D. Owners may not construct or maintain any building, residence, or structure, or undertake or perform any activity in the Conservation Areas, unless prior approval is received from the SJRWMD.

E. Each Owner, at the time of construction of a building, residence, or structure shall comply with the construction plans for the surface water management system approved an on file with the SJRWMD.

XVIII. SECURITY.

A. It is currently contemplated that access to the Community, as well as access to the amenities, will be controlled by means of electronic entrance gates, a manned or unmanned gatehouse, a roving attendant, or any combination thereof. The electronic gates and other access control, if any, may be operated with the use of a tele-entry system. All costs associated with operation of any electronic gates and/or gatehouses, if any, shall be part of Operating Expenses of the Association and paid for by Owners through Assessments. All costs relating to any access control facility(ies), if any, shall be part of Operating Expenses of the Association and paid for by Owners through Assessments. THE PROVISION OF ANY ACCESS CONTROL SYSTEM, INCLUDING ELECTRONIC ENTRANCE GATES AND/OR GATEHOUSES, SHALL IN NO MANNER CONSTITUTE A WARRANTY OR REPRESENTATION AS TO THE PROVISION OF OR LEVEL OF SECURITY WITHIN THE COMMUNITY. DECLARANT, AND ASSOCIATION DO NOT GUARANTEE OR WARRANT, EXPRESSLY OR BY IMPLICATION, THE MERCHANTABILITY OF FITNESS FOR USE OF ANY ACCESS CONTROL SYSTEM, OR THAT ANY SUCH SYSTEM (OR ANY OF ITS COMPONENTS OR RELATED SERVICES) WILL PREVENT INTRUSIONS OR OTHER OCCURRENCES, REGARDLESS OF WHETHER OR NOT THE ACCESS CONTROL SYSTEM IS DESIGNED TO MONITOR THE SAME. EACH AND EVERY OWNER AND THE OCCUPANT OF EACH HOME ACKNOWLEDGES THAT DECLARANT AND ASSOCIATION AND THEIR EMPLOYEES, AGENTS, MANAGERS, DIRECTORS, OFFICERS, MEMBERS, PARTNERS AND AFFILIATES, ARE NOT INSURERS OF OWNERS OR HOMES OR PARCELS, OR THE PERSONAL PROPERTY LOCATED WITHIN HOMES OR PARCELS. DECLARANT AND ASSOCIATION WILL NOT BE RESPONSIBLE OR LIABLE FOR LOSSES, INJURIES, OR DEATHS RESULTING FROM ANY SUCH EVENTS.

B. THERE IS NO GUARANTEE THAT ANY ACCESS CONTROL/SECURITY WILL PREVENT UNAUTHORIZED ACCESS OR OTHER OCCURRENCES. THE PROVISION OF AN ACCESS CONTROL SYSTEM BY DEVELOPER AND/OR ASSOCIATION SHALL IN NO MANNER CONSTITUTE A WARRANTY OR REPRESENTATION AS TO THE PROVISION OF OR LEVEL OF SECURITY AND DEVELOPER AND ASSOCIATION DO NOT GUARANTEE OR WARRANT, EXPRESSLY OR BY IMPLICATION, THE MERCHANTABILITY OF FITNESS FOR USE OF ANY ACCESS CONTROL SYSTEM, OR THAT ANY SUCH SYSTEM (OR ANY OF ITS COMPONENTS OR RELATED SERVICES) WILL PREVENT UNAUTHORIZED ACCESS OR OTHER OCCURRENCES, REGARDLESS OF WHETHER OR NOT THE ACCESS CONTROL SYSTEM IS DESIGNED TO MONITOR AND/OR CONTROL THE SAME. ASSOCIATION, NEIGHBORHOOD ASSOCIATIONS, AND DEVELOPER SHALL NOT BE HELD LIABLE FOR ANY LOSS OR DAMAGE BY REASON OF FAILURE TO PROVIDE ACCESS CONTROL OR FAILURE TO PROVIDE ADEQUATE SECURITY OR THE INEFFECTIVENESS OF ANY SECURITY MEASURES UNDERTAKEN. OWNERS ARE SOLELY RESPONSIBLE FOR THE SECURITY OF THEIR HOMES AND THE SAFETY OF PERSONS AND PERSONAL PROPERTY THEREIN. EACH AND EVERY OWNER AND THE OCCUPANT OF EACH HOME ACKNOWLEDGES THAT DEVELOPER,

ASSOCIATION, BUILDERS AND NEIGHBORHOOD ASSOCIATIONS, THEIR EMPLOYEES, AGENTS, MANAGERS, DIRECTORS AND OFFICERS, ARE NOT INSURERS OF OWNERS OR HOMES, OR THE PERSONAL PROPERTY LOCATED WITHIN HOMES. DEVELOPER, ASSOCIATION, BUILDERS AND NEIGHBORHOOD ASSOCIATIONS WILL NOT BE RESPONSIBLE OR LIABLE FOR LOSSES, INJURIES, OR DEATHS RESULTING FROM ANY UNAUTHORIZED ACCESS OR ANY OTHER SUCH OCCURRENCES. ALL OWNERS, INCLUDING THEIR FAMILIES, TENANTS, GUESTS AND INVITEES, ASSUME ALL RISK OF INJURY, LOSS OR DAMAGE SUFFERED OR CAUSED, WHETHER TO THEIR PERSON OR HOMES (INCLUDING CONTENTS THEREOF) AND ACKNOWLEDGE THAT NEITHER DEVELOPER NOR ASSOCIATION HAS MADE ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, TO ANY OWNER, INCLUDING THE OWNER’S FAMILY, TENANTS, GUESTS AND INVITEES, CONCERNING ANY SECURITY MEASURES RECOMMENDED OR UNDERTAKEN INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE RELATIVE TO ANY ACCESS CONTROL SYSTEM.

XIX. PRICES AND MARKET VALUES.

Seller and any other builder in the Community shall have the unilateral right to establish prices for the Homes they build in the Community. Seller and any other builder in the Community may, at its sole discretion, increase or decrease the price or the price per square foot for any Home or option at any time, or offer incentives for sales of Homes, all without notice to Purchaser. Once Purchaser has signed the Agreement establishing a price for the Home, the prices for any subsequent changes or upgrades to the Home (if available) as requested by Purchaser, including but not limited to design, floor plan, options, materials or otherwise, are subject to change by the Seller until a written and signed agreement on the price is reached by the Declarant and Purchaser for such change or upgrade. Seller makes no representations or warranties that the price for the Home or options in the Home will be increased or decreased for other purchasers of identical or similar units or options. Seller also makes no representations or warranties that changes or options made by Purchaser will or will not increase or decrease the market value of the Home, and upgrades or options may not increase or may actually decrease the market value of the Home. The Home is being sold for residential purposes and not as an investment.

XX. CONSTRUCTION AND SALES ACTIVITY.

PURCHASER ACKNOWLEDGES THAT SOME AREAS OF THE COMMUNITY MAY BE UNDER DEVELOPMENT FOR AN EXTENDED PERIOD OF TIME. INCIDENT TO THE DEVELOPMENT PROCESS, THE QUIET ENJOYMENT OF THE COMMUNITY MAY BE UNAVOIDABLY INTERFERED WITH TO SOME EXTENT BY THE CONSTRUCTION OPERATIONS. Construction, development and sales activities in the Community may occur after Purchaser has taken occupancy of Purchaser’s Home. Depending upon Purchaser’s sensitivities, this may result in some inconvenience to Purchaser and Purchaser’s family and guests due to increased noise, dust, road closures, operation of the model homes and sales offices, and other

activities. Construction activities can occur at various hours throughout the day, and sales activities can result in additional traffic and visitors throughout the Community, particularly before the Community is completely built out. Seller cannot guarantee that Purchaser will not be affected or impacted as a result of the overall construction and development of the Community. Seller gives no guarantees or assurances on the active time of sales center(s) and model homes within the Community.

XXI. VIEWS.

Future development and construction activities in the Community and surrounding areas can and will modify the view from Homes (including but not limited to Purchaser’s Home). Trees and other foliage may be added or removed from lots or Common Areas of the Community and surrounding areas. Additional housing and other improvements will be added within the Community and may be added in surrounding areas. Because future development and construction activities will modify views from Homes, Seller does not warrant or guarantee any existing views will be maintained in the future relative to Purchaser’s Home. Any express or implied easements for view purposes or for the passage of light and air are hereby expressly disclaimed.

XXII. TREES AND FOLIAGE.

The Community contains numerous native trees of various sizes and varieties. While Declarant has taken care during the planning and construction to save trees, future development and construction may require the removal of trees, shrubs and other foliage and, therefore, Declarant does not guarantee the preservation of any trees, shrubs, ground cover or other foliage in the Community or Purchaser’s Home, and cannot be responsible for short or long-term damages to foliage due to construction or development activities. The Declarant makes no representation or warranty that trees located on or near Purchaser’s Home, in the Common Areas or in any other part of the Community will not be removed.

XXIII. EASEMENTS.

Easements throughout the Community are reserved in favor of the Declarant, the Association, SJRWMD, the County, utility providers, and governmental authorities and agencies, among others. For further information regarding specific easements affecting the Community, please refer to the Declaration and the documents recorded in the Public Records of Volusia County, Florida that affect the Community.

XXIV. MISCELLANEOUS.

A. Real Estate Taxes. When a new home is built, the full value of the home is typically not reflected in the real estate tax bill for the home until the calendar year after construction has been completed. Seller is not responsible for communicating any information regarding real estate taxes (current or future) and cannot and will not predict what the taxes on the Home may be. Purchaser should confirm any information concerning appraisals, tax valuation, tax rates and other tax related questions with Purchaser’s personal tax advisor and the local taxing authorities.

B. Future Commercial/Retail Uses. The Community is located adjacent to and/or in the vicinity of properties which may be developed with major commercial and retail uses in the future. The development of such uses adjacent to and/or near the Community may increase traffic volumes, noise, outdoor lighting, pedestrian activity and other similar impacts resulting from commercial development.

C. Development of Adjacent Property. Declarant’s current development plans for the Community may change. Therefore, Declarant makes no representations or warranties concerning the development of the Community, which may include additional phases, or any property adjacent to, surrounding, or near the Community.

D. Major Public Roads. The Community is located along, adjacent to or near portions of LPGA Boulevard, Tymber Creek Road. These roads, which are used for access to I-95 (which is located east of the Community) and other interstates and highways, experience heavy traffic, especially during the tourist season. Seller provides Purchaser with the following notice regarding certain roads adjacent to, within or through the Community:

i. Planned or existing roadways adjacent to, within or through the Community include, but are not limited to, Tymber Creek Road which runs through the Community from LPGA Boulevard and may, in the future, be extended northerly to connect to Granada.

ii. Planned or existing roadways adjacent to, within or through the Community include, but are not limited to, Tournament Drive which runs adjacent to the Community and may, in the future, be extended northerly along the western boundary of the Community.

E. Flood Zone. Purchaser acknowledges that the Community or portions of the Community, including Purchaser’s Home, may be located within a flood zone. The fact that the property is or is not within a flood zone is not a representation or guarantee that it will or will not flood. Flooding can occur on any property, particular low areas or flat areas without substantial elevation changes and areas subject to hurricanes and other torrential rains. Mortgage lenders will typically require the issuance of flood insurance as a requirement for financing, which insurance must be present at Closing. Purchaser acknowledges and understands that waiver of flood insurance is at the sole discretion of the mortgage lender. Seller recommends that Purchaser protect his/her/its Home by obtaining proper insurance coverage, including flood insurance, and Purchaser must obtain insurance for the Home required by the Declaration. For more information regarding insurance required for the Home, please see Section 5.2 of the Declaration.

F. Wildlife. As a result of the open spaces and bodies of water in and around the Community, wild animals may be found within the Community including, without limitation, alligators, coyotes, dogs, raccoons, snakes, ducks, deer, swine, turkeys, wild boars, foxes and other reptiles and insects. Contact with any wild animals can be dangerous. Should Purchaser encounter any such animal, Purchaser should contact

the local animal control office for further instruction. PURCHASER ACKNOWLEDGES THAT THE COMMUNITY MAY CONTAIN WILDLIFE SUCH AS ALLIGATORS, COYOTES, DOGS, RACCOONS, SNAKES, DUCKS, DEER, SWINE, TURKEYS, WILD BOARS AND FOXES. SELLER, BUILDERS, AND ASSOCIATION SHALL HAVE NO RESPONSIBILITY FOR MONITORING SUCH WILDLIFE OR NOTIFYING OWNERS OR OTHER PERSONS OF THE PRESENCE OF SUCH WILDLIFE. EACH OWNER AND HIS OR HER GUESTS AND INVITEES ARE RESPONSIBLE FOR THEIR OWN SAFETY AND NEITHER SELLER NOR THE ASSOCIATION SHALL HAVE ANY RESPONSIBILITY OR LIABILITY FOR DAMAGE OR INJURY AS A RESULT OF ANY WILD ANIMALS.

G. Sinkhole Activity. Sinkholes, karsts, subsidence, cavities, and other subsurface anomalies are part of Florida’s natural environmental. Geological conditions where the Community is located make the Community receptive to sinkhole development. Although Seller is not aware of prior sinkhole activity on homesites, Purchaser acknowledges and agrees that Seller makes no representation, warranty or guarantee against the risk of future sinkhole activity or development, settlement or soil changes on the homesite. All risks associated with all natural occurrences shall be borne by Purchaser from and after Closing. Purchaser represents to Seller that Purchaser has made all independent investigations into sinkholes (including, but not limited to the availability and cost for sinkhole insurance coverage) which Purchaser deems appropriate prior to entering into the Agreement. For more information, Purchaser should contact the Florida Department of Environmental Protection, Florida Geological Survey at (850) 617-0300, or for sinkhole questions (850) 617-0301 or visit their website at http://www.dep.state.fl.use/geologv/.

H. Meghan’s Law Disclosure/Database Regarding Registered Sexual Offenders. Pursuant to Section 943.0435, Florida Statutes, sexual offenders must complete a registration form at their county sheriff’s office. Information about specified registered sex offenders is available to the public via an Internet Web site maintained by the Florida Department of Law Enforcement of www.fdle.state.fl.us. This information will include, if available, the offender’s name, the address at which the offender resides, the offender’s status, and address source information. It is Purchaser’s responsibility to check the FDLE Web site prior to entering into the Agreement.

I. License Agreement. Seller provides Purchaser with the following notice and disclosures regarding the License (as defined below), and Purchaser acknowledges, understands and agrees as follows:

a. Seller obtained from the Margaritaville Communities, LLC, a Delaware limited liability company (“Sub-Licensor”) a license (“License”) to use the “Margaritaville Intellectual Property” which includes names, images and trademarks that are evocative of Jimmy Buffett and Margaritaville such as the name “Latitude Margaritaville Daytona Beach” and the right to build, design and operate a community with a Margaritaville look and feel (the “Intellectual Property”). Seller is going to use the license in connection with the Community including the following rights:

i. Seller has the right to use the Intellectual Property for the purpose of marketing, promoting and selling the Homes in the Community.

ii. The Association has the right to use the Intellectual Property for the purpose of operating the Community; the Association does not have the right to use the Intellectual Property for the marketing, promotion, sale or rental of Homes.

Use of the Intellectual Property within the Community, along with all logos associated therewith, are the proprietary property, trade names and service marks of Sub-Licensor

b. Seller’s license to use the Intellectual Property in connection with the Community expires on June 6, 2027 (“Term”), provided that Seller has the right to extend the Term of the License in one or more increments of (2) years each by written notice delivered to the Sub-Licensor within thirty (30) days prior to the expiration of the then-current Term so long as, at the time each extension is exercised, Seller is actively marketing Homes.

c. Except for those uses that continue pursuant to (d) below, upon termination of the License to use the Intellectual Property, Seller and the Association shall have the obligation to, as soon it is commercially reasonable thereafter, stop holding the Community out to the public as a “Margaritaville” branded community and commence such de-branding actions as are required to preclude a reasonable likelihood of confusion on the part of the public as to whether the Community is a “Margaritaville” establishment (the “De-Branding Actions”), including:

i. removing all exterior and interior Intellectual Property signage;

ii. changing any staff uniforms to remove all Intellectual Property; and

iii. discontinuing the use or display of Intellectual Property, including all usage of all such Intellectual Property in connection with the advertisement and promotion of the Community and on any worldwide Web site or other online service that is generally accessible to the public (including social media websites).

d. Notwithstanding the provisions of (c) above, upon the expiration of the Term, the De-Branding Actions shall not apply to: (i) Homes sold to any third parties, including without limitation any re-sales of Homes (subject to (f) below); (ii) directional street signs in connection with the Community; and (iii) Community entrance and other signage using the Intellectual Property. At the expiration of the Term, the Sub-Licensor has the right to terminate all use of the Intellectual Property in the Community, if in Sub-Licensor’s reasonable judgment, the use of the Intellectual Property has caused a material diminution of the value of the Intellectual Property and the good will associated therewith, and the Association fails to remedy such situation within one hundred twenty (120) days after written notice to the Association.

e. Upon reasonable prior written notice and during normal business hours, Sub-Licensor’s agents, at the Association’s cost and expense, have the right to:

i. inspect all Common Areas of the Community;

ii. interview management and staff employed at the Community provided such interviews do not unreasonably interfere with the performance of their respective duties and responsibilities; and

iii. inspect the Association’s records relevant to the Community to make sure Sub-Licensor’s standards are being observed.

f. Purchaser understands, acknowledges and agrees that Owners (including Purchaser) do not have a license to use the Intellectual Property in any manner. However, Owners and their sales or rental agents (“Brokers”) may use the Intellectual Property in connection with the sale or rental of a Home only as set forth in (i) through (iii) below. Any unauthorized use by Owners or their Brokers (including real estate sales, rental agents, or rental management companies) will subject Owners to liability for trademark infringement with the following limited exceptions in connection with the sale or rental or an Owner’s Home: i. An Owner and his/her/its Brokers may refer to the Community as “Latitude at Margaritaville at Daytona Beach” and may refer to any street name that may include an element of the Intellectual Property in the address of the Home but only in non-stylized type without associated logos or color. ii. An Owner and his/her/its Brokers may use images intended to show the Home itself and any incidental inclusion of signage or other elements of Intellectual Property in such images is not prohibited. iii. Each Owner and his/her/its Brokers may use such preapproved images of the Community entrance, common areas and amenities as you may make available to me, in your discretion, from time to time.

Purchaser understands, acknowledges and agrees that any other uses of Intellectual Property by Purchaser or his/her/its Brokers in the sale or rental of the Home, or any other property within the Community, or for any other commercial purpose are strictly prohibited. These prohibitions include no use of music or reference to lyrics that are evocative of Margaritaville or Jimmy Buffett or any other references that falsely suggest any endorsement, affiliation or other connection with Declarant, Jimmy Buffett or Sub-Licensor.

XXV. STATEMENTS MADE BY SALES STAFF AND BROKERS.

Seller wants to ensure that Seller and Purchaser are in full agreement on all terms and conditions relating to the Agreement between Seller and Purchaser. To best ensure that there are no misunderstandings, Purchaser should ensure that all terms and conditions (including statements, representations or understandings upon which Purchaser relies in purchasing the Home) are set forth in writing in the Agreement. If

there are any statements, representations, or understandings which are made by a sales staff person or any other representative of Seller which are material to Purchaser’s decision to purchase, Purchaser should insist that any such statement, representations or understanding is put in writing and contained in the Agreement. Seller reserves the right to reject the Agreement notwithstanding the inclusion of any such item in the Agreement.

XXVI. EFFECTIVE DATE.

This Disclosure Statement is effective as of July 28, 2017.


Name: Name: Date: Date: SELLER:



AGE COMPLIANCE ADDENDUM

THIS AGE COMPLIANCE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the ___ day of ______________, 20___, between __________________________________________________ ________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”), in the community known as Latitude Margaritaville at Daytona Beach (the “Community”).

II. Defined Terms. All initially capitalized terms not defined in this Addendum shall have the meanings set forth in the Agreement.

III. Age Restricted Community. The Community is an age-restricted community complying with the federal Fair Housing Act, Title VIII of the Civil Rights Act of 1968, the Fair Housing Amendments Act of 1988, 42 U.S.C. 3607, the Housing for Older Persons Act of 1995, 42, U.S.C. 3607(b)(2)(C) and the Florida Fair Housing Act, Sections 760.20 through 760.37 of the Florida Statutes (together with all regulations adopted thereunder, and as amended from time to time, the “Acts”). With certain exceptions as noted below, the Community is intended for housing of persons fifty-five (55) years of age or older. Owners (as defined in the Declaration) shall be responsible for clearly disclosing and including the statement that housing in the Community is intended for housing of persons fifty-five (55) years of age or older, whether in any lease, occupancy agreement or contract for sale. No person may occupy any home in the Community in violation of these restrictions, all of which are more fully set forth in the Declaration.

IV. At least eighty percent (80%) of the occupied homes within the Community shall at all times have as a permanent occupant therein at least one (1) person who is fifty-five (55) years of age or older (the “Qualifying Occupant”); provided, in the event of the death or divorce of a person who was the sole Qualifying Occupant of a home, the surviving or divorced spouse of such Qualifying Occupant may continue to occupy such home if such spouse was a permanent occupant prior to the death or divorce so long as the provisions of the Acts are not violated by such occupancy. An occupant shall not be considered a “permanent occupant” unless such occupant resides in the home for at least eight (8) weeks per year. No home shall be permitted to have any permanent occupant under the age of eighteen (18) years of age at any time, except that persons under the age of eighteen (18) may be permitted to visit and temporarily reside for periods not to exceed thirty (30) days in total in any calendar year. No home shall be rented or sold unless at least one person who will occupy the home is a Qualifying Occupant. Notwithstanding anything to the contrary, for so long as Seller holds homes in the Community for sale in the ordinary course of business, Seller shall have the sole right, but not the obligation, to allow no more than twenty (20%) of the homes to be permanently occupied by persons who are not Qualifying Occupants and who are fifty-two (52) years of age or older; provided, such occupancy does not violate the Acts.

V. In the event of any change in occupancy of any home, whether it be the result of transfer of title, lease or sublease, birth or death, change in marital status, vacancy, change in location of permanent residence, or otherwise, the owner of a home must immediately notify the Association’s Board in writing and provide the Board the names and ages of all current occupants of the home and such other information deemed necessary by the Board to allow it to verify the ages of each occupant. Association must maintain age records on all occupants of homes, and may adopt policies, procedures, and rules to monitor and maintain compliance with the age restrictions. Association has the authority to enforce its policies, procedures and policies regarding age restrictions, and the Declaration provides that each home has appointed Association as its Attorney-in-Fact for the purpose of taking legal action necessary to enforce compliance with the age restrictions. Each owner (including Purchaser) is responsible for ensuring that his/her/their home (including the Property identified in the Agreement) is in compliance with the requirements of the Acts, the Declaration, and all procedures and policies adopted by Association.

VI. In the event of any conflict between this Section III and the Declaration, the Declaration shall control.

VII. Certificate of Age. Purchaser acknowledges that the Community Documents provide that the Community is intended and operated for occupancy by persons fifty-five (55) years of age and older (generally, eighty percent (80%) of the occupied homes must be occupied by at least one (1) person who is fifty-five (55) years of age or older). The Community is exempt from prohibitions against discrimination based on age because it is “housing for older persons” under the 55 and older exemptions in the Federal Fair Housing Act and the Florida Fair Housing Act.

Accordingly, the age of the occupant(s) of the Home must be documented by Purchaser (please select the appropriate categories).

VIII. Purchaser is Occupant and Over 55. Purchaser is 55 or older in age and purchasing the Home for occupancy by Purchaser and has provided the following documentation of the age of Purchaser, as occupant, a copy of which is attached (check one of the following):

Driver’s License of Purchaser Birth Certificate of Purchaser Passport of Purchaser Immigration Card of Purchaser Military Identification of Purchaser

IF THERE IS MORE THAN ONE PURCHASER, ONLY ONE OF THE PURCHASERS MUST PROVIDE PROOF OF AGE.

IX. Occupant Over 55. Purchaser is purchasing the Home for occupancy by _____________________________ (the “Occupant”). The Occupant is 55 years of age or older and has provided the following documentation of the age of the Occupant, a copy of which is attached (check one of the following):

Driver’s License of Occupant Birth Certificate of Occupant Passport of Occupant Immigration Card of Occupant Military Identification of Occupant Certification from member of Occupant’s household age 18 or older (form

available)

IF MORE THAN ONE OCCUPANT IS OVER 55 YEARS OF AGE, ONLY ONE OF THE OCCUPANTS MUST PROVIDE PROOF OF AGE.

X. Purchaser and/or Occupant Under 55. Purchaser(s) and/or the intended Occupant(s) of the Home is/are under the age of 55. Purchaser acknowledges that the Community may lawfully engage in housing practices which would otherwise be subject to claims for discrimination based on familial status because the Community is intended for occupancy by persons 55 and older.

XI. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum.

XII. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects, the Agreement shall remain in full force and effect.

XIII. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth in this Addendum. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized agent of Seller. PURCHASER: PURCHASER:



Name: Name: Date: Date: SELLER: MINTO COMMUNITIES, LLC, a Florida limited liability company, By: Name: Title: Date:

DECORATIVE STUCCO/CEMENT FINISH TO EXTERIOR WALLS DISCLOSURE ADDENDUM THIS DECORATIVE STUCCO/CEMENT FINISH TO EXTERIOR WALLS DISCLOSURE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase Agreement (the “Agreement”) dated as of the _______ day of _______________, 20____, between ________________________________________________________ (collectively, “Purchaser”) and and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”), in the community known as Latitude Margaritaville at Daytona Beach.

XIV. Defined Terms. All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, and all references in this Amendment to the Agreement shall be deemed to include references to this Amendment and to any other addenda attached to the Agreement, which are hereby incorporated by this reference.

XV. Decorative Stucco/Cement Finish To Exterior Walls.

A. Upon conveyance and recording of the Deed to the Property, the Purchaser will be solely responsible for the proper maintenance and cleaning of the exterior walls of his/her/its Home. Exterior walls are improved with a decorative finish material composed of stucco or cement coating (collectively, “Decorative Stucco/Cement Finish”). While Decorative Stucco/Cement Finish is high in compressive or impact strength, it is for decorative purposes only and is not of sufficient tensile strength to resist building movement. It is the nature of Decorative Stucco/Cement Finish to exhibit some cracking and it will expand and contract in response to temperature, sometimes creating minor hairline cracks in the outer layer of the Decorative Stucco/Cement Finish. This is normal behavior and considered a routine maintenance item for Purchaser.

B. The Florida Lath & Plaster Bureau, a consortium of stucco industry professionals, has issued a Technical Bulletin TB-ST-04-12, entitled Stucco & Building Exterior Maintenance that provides recommendations for cleaning and maintenance of the Decorative Stucco/Cement Finish to the exterior walls of the Home. A copy of this bulletin can be obtained at http://www.flapb.com/technical-bulletins.html. Purchaser can also obtain information on efflorescence by reviewing the National Concrete Masonry Association’s “Control And Removal of Efflorescence”, NCMA Tek 8-3-A available through the NCMA at www.ncma.org, and on repairing cracks by reviewing the Portland Cement Association’s technical note “IS526 Repair of Portland Cement Plaster”, which is available for download at www.cement.org, and the American Concrete Institute’s “ACI 524R-04 Guide to Portland Cement-Based Plaster” which is available for download at www.concrete.org.

C. It is the responsibility of the Purchaser to monitor the exterior portions of his/her/its Home on a regular (at least once per year) basis for excessive cracks, stains, mildew or efflorescence. Notwithstanding the foregoing, small cracks in the Decorative Stucco/Cement Finish are normal and do not require any maintenance or repair. If a crack exceeds 1/8-inch in width, then the crack should be repaired. At least once per year, the Purchaser must inspect the Decorative Stucco/Cement Finish to the exterior walls for cracking, and if cracking is detected engage a qualified professional to seal those cracks and repair the affected area. In addition, each year the Purchaser must inspect the exterior paint and caulk material in the exterior wall system openings (i.e. windows, doors, hose bibs, etc.) for peeling, cracking or separation. If the inspection reveals any such items, the Purchaser must engage a qualified professional to clean, repair, re-caulk and repaint those areas. It is the Purchaser’s responsibility for all

maintenance and repairs described in this paragraph, which should be completed in a timely fashion to prevent any damage to the Home.

D. Certain conditions may be covered by the Warranty during the term of the Warranty, and, if covered, must be promptly reported as provided in the Warranty for review and proper resolution including (i) cracks in or missing Decorative Stucco/Cement Finish wider than 1/8-inch; spalling of the Decorative Stucco/Cement Finish and (ii) separation between a decorative stucco/cement surface and adjacent material that equals or exceeds ¼-inch in width that is not caulked. If the Warranty has expired or does not cover the specific Decorative Stucco/Cement Finish issue set forth above or in the Warranty, Purchaser should not delay in having a qualified professional repair the problem. Seller will not be responsible for, and Purchaser agrees to indemnify and hold harmless, the Indemnified Parties from and against all Claims in connection with the Decorative Stucco/Cement Finish due to Purchaser’s actions, such fastening or attaching devices (e.g., patio covers, plant holders, awnings, TV dishes, and hose racks, etc.), or inactions, such as Purchaser’s failure to inspect and/or maintain and promptly repair the Decorative Stucco/Cement Finish or failure to promptly provide notice of any Decorative Stucco/Cement Finish cracks covered by the Warranty.

XVI. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Amendment.

XVII. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects, the Agreement shall remain in full force and effect.

XVIII. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized officer of Seller.






PRIVACY POLICY NOTICE ADDENDUM

THIS PRIVACY POLICY NOTICE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the _____ day of _____________, 20____, between _________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Property”), in the community known as Latitude Margaritaville at Daytona Beach.

1. Defined Terms. All initially capitalized terms not defined in this Addendum shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by this reference. Notwithstanding the foregoing and notwithstanding anything contained in the Agreement to the contrary, for the exclusive purpose of this Addendum, “Minto Companies” shall have the meaning set forth in the Privacy Policy Notice (defined below).

2. Privacy Notice. Purchaser acknowledges that Purchaser has received and reviewed Seller’s Privacy Policy Notice attached to this Addendum as Exhibit A (“Privacy Policy Notice”) and Purchaser accepts the Privacy Policy Notice. Purchaser further acknowledges that the Privacy Policy Notice is subject to amendment and modification from time to time.

3. “Opt-In”/”Opt-Out” Procedure. Purchaser must indicate below Purchaser’s preferences regarding information sharing made by Seller or the Minto Companies as described in the attached Privacy Policy Notice. If there is more than one Purchaser, the choices selected on the Addendum will apply to all Purchasers who have executed the Addendum. Purchaser has the right, at any time in the future, to change the selected “opt-in”/”opt-out” selections by advising Seller in writing and making the appropriate selections.

Please check either “YES” or “NO” in the appropriate box next to each of the following options to indicate your information sharing preferences:

YES NO

Minto Companies Information Sharing: Allow the Minto Companies to use my personal information to market to me.

Credit Information Sharing: Share information about my creditworthiness with the Minto Companies for their everyday business purposes.

Non-affiliate Information Sharing: Share my personal information with non-affiliates to market their products and services to me.

4. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum. Signatures may be given by electronic transmission and shall be deemed original and given as of the date and time of transmission of this Addendum electronically to the other party.







SELLER:



EXHIBIT A

PRIVACY POLICY NOTICE

The following Privacy Policy applies to Minto. Unless otherwise specified, “Minto” includes Minto Communities, Inc., Minto Properties, Inc., Minto Corporate Services, Inc., Minto Communities, LLC, Minto TownPark, LLC, Minto Villas-By-The-Sea, LLC, Minto Bradenton, LLC, Minto Artesia, LLC, Minto Sabal Bay, LLC, Founders Title, and all applicable affiliated companies, (collectively, the “Minto Companies”). However, please note that where a Minto Company has individually adopted a different Privacy Policy, Terms and Conditions and/or Legal Disclaimers, such Privacy Policy, Terms and Conditions and/or Legal Disclaimers will supersede this Privacy Policy, Terms and Conditions and/or Legal Disclaimers for purposes of that Minto Company.

Except as otherwise specifically provided in this Privacy Policy or as specifically required by law, any communication or material you provide to us, whether received online, electronically, in person or otherwise collected by or submitted to us, including any data, questions, comments, suggestions or the like, is, and will be treated as, non-proprietary. Anything you submit, transmit or post may be used for any purpose, including, but not limited to, reproduction, disclosure, transmission, publication, market research, development of prospect lists, project planning, broadcast, posting and marketing, among other things, as permitted by law and except as otherwise provided in this Privacy Policy.

We may also use information provided by you to send you electronic and other messages about a property in one of our communities or an offering from one of the Minto Companies. Your permission is considered granted unless you specify otherwise pursuant to applicable law, as provided below. We comply with the U.S. Federal CAN-SPAM Act, and make every effort to ensure that our messages are not considered Spam. Of course, you may unsubscribe from any messages we send at any time and you will not receive further electronic messages from us after following the instructions included within the message.

We may provide you with an “opt in” or “opt-out” mechanism depending on where you are located when we collect your personal data. An “opt-in” mechanism will provide you the opportunity to positively indicate that you would like or do not object to our sending you such further communications and we will not send you any unless you have “opted-in”. An “opt-out” mechanism will provide you the opportunity to indicate that you do not want us to send you such further communications, and if you “opt-out” we will not send you any. Either way, opting-in or opting-out will be up to you and, in addition, if you do not want us to use your personal data for a particular purpose or disclose it to a third party, you may “opt out” at any time by contacting us as provided below.

Information transmitted over the Internet may find its way to recipients to whom it is not intended or persons you may not want to have such information. Under certain circumstances, this may be beyond the control of the Minto Companies, and you are advised that such transmission may not be secure. However, the Minto Companies comply with applicable federal and other law regarding the safeguarding of your personal information, and we employ reasonable administrative, technical and physical safeguards to protect the security, confidentiality, and integrity of your information, as required by law. Further, we restrict access to nonpublic personal information about you to those employees who need to know that information in order to provide products or services to you.

As part of our established relationship with you, we will use and retain your personal information for the following purposes:

• To respond to your requests for product information. • To complete business transactions with you and to provide appropriate levels of service

following the completion of a transaction, such as a rental, lease or sale.

• To share personal information that we collect with other service providers, such as utilities, insurance companies, banking institutions and credit agencies, as well as trades and contractors, who perform various functions to assist in our delivery of service to you.

• We may also be required to provide personal information to third parties for legal or regulatory purposes or to the owners of properties we are providing management services to.

• From time to time, we will provide personal information to a third party in order to conduct customer satisfaction surveys.

• We will use personal information at an aggregate level to improve the quality and efficiency of our products and services and to enhance our marketing efforts.

• We may share your personal information within the Minto Companies to cross promote products and services which we believe will be of interest to you.

Categories of Information We Collect

Contact Information: We may request and collect, without limitation, your name, address, e-mail address, home telephone number, work telephone number, facsimile number and cell phone number.

Additional Information About You: We may request and collect, without limitation, information about the home or unit you are purchasing, including the community, mailing address, and anticipated closing date.

When you make inquiries concerning career opportunities, we will request a copy of your resume, your highest level of education and information about the type of job you are seeking.

Additionally, we may collect non-public personal information about you from the following sources:

● Information we receive from you on applications or other forms, such as your name, address, social security number, assets, and income.

● Information we receive from a consumer reporting agency, such as your creditworthiness and credit history.

● Information about your transactions with us, the Minto Companies, or others, such as your payment history, the status of a loan application submitted to a Minto Company, and parties to a transaction.

We may collect the following contact information that you provide, confirm, or update while using www.mintofla.com or through personal interactions during the home buying process; by way of example but not limitation, completing a registration at a Minto New Home, Welcome or Sales Center:

● The services that you desire to order and your preferences regarding service information. ● Credit card information to pay for services that are ordered. ● The e-mail addresses of friends and family to receive a notification regarding your move . ● Your preferences regarding the forwarding of USPS mail (preferences information).

Additionally, in connection with your use of www.mintofla.com (hereinafter referred to as the “Website”), we collect certain web analytics information, including among other information, the number visitors to the Website, session time, and browser version (“Technical Information”). Technical Information is not collected in a manner in which it can be tied to a specific user, and is stored and used only on an aggregate basis. When you access the Website, some of our services are provided to or through affiliated websites. Personal information that you provide to those sites may be sent to the Website in order to deliver the service. We process such information in accordance with our Website Privacy Statement, which is available at http://www.minto.com/privacy.html. We will store on the computer that you use to access the Website a small file that is commonly referred to as a “cookie.” The cookie has information that enables us to recognize a specific computer that is used to visit the Website. Each vendor identified on, or accessed from, the Website has its own policies on the collection and use of Technical Information and the use of cookies.

When you make inquiries concerning your current Minto home, we will also request the identity of the community where your home is located.

If you are a real estate agent seeking information on our communities, a party interested in conducting business with Minto or if you contact us with land you have for sale, we will request your contact information.

If you wish to contact our webmaster, we will request your contact information.

Categories of Information We Disclose

We prohibit the sale, transfer or sharing of personal information with third parties for any other purposes than those identified, without your consent, unless it is required by law. Except as otherwise provided in this Privacy Policy, we may use, share, or disclose all of the information that we collect from you as a current or former customer:

● In connection with the fulfilment of the services that you request, including through the Website.

● To enforce the Terms and Conditions applicable to the use of the Website. ● As required by law or valid legal process. ● In response to appropriate governmental requests. ● As we deem reasonably necessary to investigate, prevent or take other appropriate

action in connection with potential illegal or fraudulent activities or potential risk to the personal safety of any individual or the security of your information.

● To manage our business. ● To protect our interests. ● To support direct marketing and other opportunities of the Minto Companies and third

parties as described herein. ● To assist you in finding products and services that may be of interest to you.

Categories of Information We Do Not Disclose

Except for sharing your credit card information with vendors in connection with any services that you request, we will not otherwise use or share your credit card information, and we will not retain your credit card information.

We will not share with third parties your friends and family contact information, other than in connection with the fulfilment of the moving notices that you request.

Parties to Whom We Disclose

We may disclose non-public personal information about you to the following types of select third parties:

● Financial service providers, such as mortgage bankers and insurance agents; Non-financial companies, such as retailers and direct marketers;

● We may use and share your contact information and new home information among the

Minto Companies to provide you with offers from the Minto Companies that we believe may be of interest to you;

● We may share your contact information and new home information with third parties who

assist Minto in offering products or services to you;

● We may share your contact information and new home information with carefully selected third parties that agree with Minto to offer products or services to you and users of the Website.

Information Sharing with Companies that Perform Services on our Behalf

We may disclose any or all of the information we collect, as described above, to companies that perform marketing services on our behalf or to other financial institutions with whom we have joint marketing agreements. The categories of third parties with whom we have contracted may include, among others:

● Financial service providers, such as credit card issuers, finance companies, insurance agencies or companies, banks, and mortgage companies; and

● Other service providers, such as tax vendors, print vendors, and software programmers.

Vendor Policies

Each of the vendors identified in the Website or otherwise identified by Minto has its own privacy policy that may differ from Minto’s privacy policy. By requesting products and services from Minto, your information will be provided to the applicable vendors as discussed in this policy. You may access the privacy policy of each vendor by requesting one from the vendor or visiting the vendor’s website. We do not have any control over, or responsibility for, the content or operation of the website of any vendor. Each such website may collect information about you and your usage of the website and have information sharing policies that differ from those of Minto. The use of such websites is at your own risk.

Information Sharing with Non-Affiliated Companies

We may disclose non-public personal information about you to non-affiliated third parties as permitted by law, including pursuant to consents that you provide. We may also, either directly or through the Minto Companies, share your non-public personal information with non-affiliated companies to market their products and services to you.

If you prefer that we not disclose non-public personal information about you to non-affiliated third parties to market their products and services to you, you may opt out of those disclosures and direct us not to make those disclosures. If you wish to opt out of disclosures to non-affiliated third parties to market their products and services to you, please indicate your selection where appropriate in Section 3 of Page 1 of the Addendum. If you do not opt out at this time and wish to do so in the future, you may contact us by visiting www.mintofla.com or [email protected].

Cookies and Interest-Based Advertising

We may use cookies and other devices on our Websites. Using cookies on our sites provides benefits to you, such as allowing you to maintain your account login information between visits. The use of cookies also allows us to measure site activity to provide a better user experience. Cookies and other devices may be used to tell us the time and length of your visit, the pages you look at on our site, the site you visited just before coming to ours, and the name of your Internet service provider. We may use third parties, such as Google Analytics, to collect such data and to serve our advertisements on other websites. To learn more about how Google collects and processes data and the choices Google may offer to control these activities, you may visit http://www.google.com/intl/en/policies/privacy/partners/. In serving our advertisements, these companies may use cookies and other devices to collect certain information about your visits to our Websites and other websites (such as browser type, IP address, which page was visited, and time of day). This information collected by third-party vendors, along with information that we disclose to them, may be used or shared to evaluate our online advertising campaigns or to tailor promotions and other marketing messages to users across the Internet including you. Your browser may allow you to elect to refuse cookies. Please refer to your browser Help instructions to learn more about cookies and how to manage their use. This type of advertising is sometimes called interest-based advertising. To learn more about this type of advertising, and to opt-out of the collection of information for use in interest-based advertising from companies that participate in industry self-regulation, by visiting the Digital Advertising Alliance at http://www.aboutads.info/choices or the Network Advertising Initiative

http://www.networkadvertising.org/choices/. Opting out will not stop ads from being displayed in your browser, but it may make those ads less relevant to you. Your browser also may allow you to elect to refuse cookies. Please refer to your browser Help instructions to learn more about cookies and how to manage their use.

Your Privacy Rights Under the Fair Credit Reporting Act

Information Sharing with Affiliates

Except as provided below, we may disclose non-public personal information about you to the Minto Companies, including Founders Title, as permitted by law.

Notice of Your Ability to Limit Sharing of Creditworthiness Information

Under federal law, we are permitted to share information about our own transactions and experiences with you with the Minto Companies. However, federal law gives you the right to limit our ability to share other information about your creditworthiness with the Minto Companies, such as information regarding your income, assets, and liabilities that you provide to us or that we obtain from a consumer credit report. Federal law permits you to opt out of the disclosure of your creditworthiness information among the Minto Companies. If you wish to opt out of the disclosure of your creditworthiness information to the Minto Companies contact us as described below.

Notice of Your Choice to Limit Marketing

You may limit the Minto Companies, such as our mortgage lender or broker and insurance affiliates, from marketing their products or services to you based on your personal information that we collect and share with them. This information includes your income, your account history, and your credit history.

Your choice to limit marketing offers from Lennar Affiliates will apply until you tell us to change your notice preferences. If you wish to limit marketing offers, contact us on the web as described below.

How to Opt Out of Information Sharing

To limit the information sharing described above, please indicate your selections where appropriate in Section 3 of the Addendum. If you do not opt out at this time and wish to do so in the future, contact us at [email protected].

Privacy Rights in Other Jurisdictions.

You may have rights, under applicable data privacy laws, to request information about or access to the personal information that we hold about you, to require that information be corrected if it is inaccurate or, in some circumstances, to object to our processing of your personal information. If you wish to exercise those rights, please contact [email protected].

Former Customers

Our privacy policy for sharing non-public personal information about former customers is the same as our policy for current customers.

Disclaimer

Minto may at any time revise the Website Legal Disclaimers, Privacy Policy or Terms and Conditions by updating the Website posting. When using the Website, you are bound by any such revision and should therefore periodically visit the Website to review the then current terms and conditions, privacy policy and legal disclaimers to which you are bound.

Thank you for taking the time to read all of this important information.

Effective Date

This Privacy Policy is effective as of January 1, 2017

ENERGY ADDENDUM

THIS ENERGY ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the _______ day of _______________, 20____, between _____________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”), in the community known as Latitude Margaritaville at Daytona Beach.


8. Energy Claims. In the marketing of the Home, certain verbal or written statements may have been made, including but not limited to statements contained in advertising and marketing material, relating to the energy efficiency, energy consumption, energy savings or energy costs of the Home. Purchaser acknowledges that any such statements were estimates only and were developed by third parties based upon the design of the Home and/or various indices. Actual Home energy savings will vary due to, among numerous other factors, construction variances, floor plan, occupancy, appliance usage, thermostat settings, weather conditions, maintenance and orientation of the home. Seller provides no guarantee of savings that will be achieved by each homeowner.

9. HERS Index. Based on an analysis of the Home’s plans, a third party Home Energy Rater uses an energy efficiency software package to perform an energy analysis of the home’s design. This analysis yields a projected, pre-construction Home Energy Rating System (“HERS”) Index. The HERS Index is a scoring system established by the Residential Energy Services Network (“RESNET”) in which a home built to the specifications of the HERS Reference Home (based on the 2006 International Energy Conservation Code) scores a HERS Index of 100, while a net zero energy home scores a HERS Index of 0. The lower a home’s HERS Index, the more energy efficient it is in comparison to the HERS Reference Home. Each 1-point decrease in the HERS Index corresponds to an estimated 1% increase in energy efficiency compared to the HERS Reference Home. For any home with a HERS Index rating, the Purchaser understands and agrees that the rating is not to be construed as a guarantee of energy savings or consumption levels. Seller makes no representations or warranties regarding the accuracy of the HERS Index.

10. Certification Program. In connection with the sale of the Home, Seller may have used a third party to certify that the Home was designed to certain guidelines (“Certification Program”). Seller makes no representations or warranties regarding any aspect of the Certification Program. Purchaser acknowledges that the third party estimate is based upon analytical methods and not necessarily testing of the Home.



13. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby

superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized agent of Seller.






APPROVED LENDER ADDENDUM

THIS APPROVED LENDER ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the ___ day of ____________, 201___ between ______________________________________ (collectively “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the community known as Latitude Margaritaville at Daytona Beach.


2. Approved Lenders and/or Mortgage Brokers. The following mortgage lenders and mortgage brokers are on Seller's Approved Lender List. Purchaser hereby acknowledges that a mortgage broker is an intermediary who brings mortgage borrowers and mortgage lenders together, but does not use its own funds to originate mortgages. Purchaser further acknowledges that a mortgage broker may collect an origination fee and/or a yield spread premium from the lender as compensation for its services. Purchaser intends to apply for financing to the mortgage lenders and/or mortgage brokers indicated (use of approved lenders and/or mortgage brokers is optional as Purchaser has a right to use any lender chosen by Purchaser in connection with the Purchase of the Property):

q FBC Mortgage, LLC: 189 South Orange Avenue Suite 970 Orlando, FL 32801 q Wells Fargo Home Mortgage: 11050 Lake Underhill Road 1st Floor Orlando, FL 32825 q TD Bank: 12000 Horizon Way Mt. Laurel, NJ 08054 3. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum.



PURCHASER:

___________________________________

Name: ___________________________ Date: ___________________________

PURCHASER:

___________________________________

Name:_____________________________ Date: _____________________________


By: _____________________________ Name: __________________________ Title: ____________________________ Date: ___________________________

AMENITIES DISCLOSURE ADDENDUM

THIS AMENITIES DISCLOSURE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the ___ day of ____________, 201___ between ______________________________________ (collectively “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”) in the community known as Latitude Margaritaville at Daytona Beach (the “Community”).


7. Amenities Disclosures. Purchaser acknowledges, understands and agrees as follows:

7.1. It is currently anticipated that the Community will contain an amenities center which will include recreational facilities and amenities plus related facilities and equipment including a food and beverage facility, fitness center and pickle ball courts which are estimated to be available for use by November 2019; a beach club which is estimated to be available for use by January 2023, subject to market conditions and the start date of which and estimated date of availability are based on a minimum of 500 closed homes; and multi-purpose rooms, fitness center, pool, tennis courts and bocce ball courts which are estimated to be available for use by May 2025, subject to market conditions and the start date of which and estimated date of availability are based on a minimum of 1000 closed home. In the event the referenced minimum number of closed homes has not been met, then the start of construction will be delayed until the minimum numbers have been met. Purchaser understands, acknowledges and agrees that the size, actual design, and facilities to be included as part of the amenities center are subject to change; provided, however, the facilities indicated in the preceding sentence will be completed as indicated. Other than the estimated dates when the referenced facilities will be available for use as indicated above, no commitment, representation or warranty is made concerning the timing of construction, design or capacity of the amenities facilities, and in no manner shall Declarant be deemed to be obligated to provide any or all the contemplated amenities facilities except as otherwise provided herein. Subject to Seller’s obligation to complete the facilities referenced above, prior to the end of the Development and Sale Period (as defined in the Declaration), the amenities center and related facilities are subject to change at any time at Seller’s sole and absolute discretion. Other than the obligation to provide the facilities referenced above for use by the dates indicated above, Seller makes no representations whatsoever to commence, complete, or construct the amenities center or any amenities facilities within any specified time period.

7.2. PURCHASER ACKNOWLEDGES, UNDERSTANDS AND AGREES THAT ACTIVITIES AND/OR EVENTS SUCH AS CONCERTS, SHOWS, PERFORMANCES, SOCIAL AND OTHER EVENTS MAY BE HELD WITHIN THE AMENITIES CENTER DURING THE DAY AND AT NIGHT, AND THAT SUCH ACTIVITIES AND EVENTS MAY CAUSE, AMONG OTHER THINGS, NOISE, VIBRATIONS, INCREASED TRAFFIC, LIGHTING, PEDESTRIAN ACTIVITY AND OTHER IMPACTS, CONSEQUENCES, RESULTS AND EFFECTS (“EFFECTS”) WHICH MAY BE SEEN AND/OR HEARD FROM THE COMMUNITY AND/OR HOME, OR OTHERWISE AFFECT PORTIONS OF THE COMMUNITY, INCLUDING THE HOME. PURCHASER UNDERSTANDS, ACKNOWLEDGES AND AGREES (A) THAT SUCH EFFECTS SHALL NOT BE DEEMED A NUISANCE, (B) THAT SELLER SHALL NOT BE LIABLE FOR THE EMANATION OF SUCH EFFECTS AND/OR ANY DAMAGES RESULTING THEREFROM, AND (C) TO HAVE RELEASED SELLER FROM ANY AND ALL LIABILITY RESULTING FROM SAME. BY ACQUIRING TITLE TO A HOME, PURCHASER WILL BE DEEMED TO HAVE ASSUMED THE RISKS, RESULTANT CONSEQUENCES, AND EFFECTS ASSOCIATED WITH AND/OR RESULTING FROM ACTIVITIES AND/OR EVENTS TAKING PLACE WITHIN THE AMENITIES CENTER.




PURCHASER:

___________________________________

Name: ___________________________ Date: ___________________________

PURCHASER:

___________________________________

Name: _____________________________ Date: _____________________________


By: ___________________________________

Name: ________________________________

Title: __________________________________

Date: _________________________________

SECURITY DISCLOSURE ADDENDUM

THIS SECURITY DISCLOSURE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the ___ day of ____________, 201___ between ______________________________________ (collectively “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Home”) in the community known as Latitude Margaritaville at Daytona Beach (the “Community”).


12. Security Disclosure. It is currently contemplated that access to the Community, as well as access to the amenities, will be controlled by means of electronic entrance gates, a manned or unmanned gatehouse, a roving attendant, or any combination thereof. The electronic gates and other access control, if any, may be operated with the use of a tele-entry system. Purchaser acknowledges, understands and agrees as follows:

12.1. THE PROVISION OF ANY SECURITY, SECURITY SYSTEM, AND/OR ACCESS CONTROL SYSTEM (COLLECTIVELY, “ACCESS CONTROL SYSTEM”), INCLUDING, WITHOUT LIMITATION, ELECTRONIC ENTRANCE GATES AND/OR GATEHOUSES, SHALL IN NO MANNER CONSTITUTE A WARRANTY OR REPRESENTATION AS TO THE PROVISION OF OR LEVEL OF SECURITY WITHIN THE COMMUNITY. SELLER DOES NOT GUARANTEE OR WARRANT, EXPRESSLY OR BY IMPLICATION, THE MERCHANTABILITY OF FITNESS FOR USE OF ANY ACCESS CONTROL SYSTEM, OR THAT ANY SUCH SYSTEM (OR ANY OF ITS COMPONENTS OR RELATED SERVICES) WILL PREVENT INTRUSIONS OR OTHER OCCURRENCES, REGARDLESS OF WHETHER OR NOT THE ACCESS CONTROL SYSTEM IS DESIGNED TO MONITOR THE SAME. PURCHASER ACKNOWLEDGES THAT SELLER AND ITS EMPLOYEES, AGENTS, MANAGERS, DIRECTORS, OFFICERS, MEMBERS, PARTNERS AND AFFILIATES, ARE NOT INSURERS OF PURCHASER OR THE HOME, OR THE PERSONAL PROPERTY LOCATED WITHIN HOMES OR PARCELS. SELLER SHALL NOT BE RESPONSIBLE OR LIABLE FOR LOSSES, INJURIES, OR DEATHS RESULTING FROM ANY SUCH EVENTS.

12.2. THERE IS NO GUARANTEE THAT ANY ACCESS CONTROL SYSTEM WILL PREVENT UNAUTHORIZED ACCESS TO THE HOME OR COMMUNITY OR OTHER OCCURRENCES. THE PROVISION OF AN ACCESS CONTROL SYSTEM SHALL IN NO MANNER CONSTITUTE A WARRANTY OR REPRESENTATION AS TO THE PROVISION OF OR LEVEL OF SECURITY AND SELLER DOES NOT GUARANTEE OR WARRANT, EXPRESSLY OR BY IMPLICATION, THE MERCHANTABILITY OF FITNESS FOR USE OF ANY ACCESS CONTROL SYSTEM, OR THAT ANY SUCH SYSTEM (OR ANY OF ITS COMPONENTS OR RELATED SERVICES) WILL PREVENT UNAUTHORIZED ACCESS TO THE HOME OR COMMUNITY OR OTHER OCCURRENCES, REGARDLESS OF WHETHER OR NOT THE ACCESS CONTROL SYSTEM IS DESIGNED TO MONITOR AND/OR CONTROL THE SAME. SELLER SHALL NOT BE HELD LIABLE FOR ANY LOSS OR DAMAGE BY REASON OF FAILURE TO PROVIDE AN ACCESS CONTROL SYSTEM OR FAILURE TO PROVIDE ADEQUATE SECURITY OR THE INEFFECTIVENESS OF ANY ACCESS CONTROL SYSTEM AND/OR SECURITY MEASURES UNDERTAKEN. PURCHASER IS SOLELY RESPONSIBLE

FOR THE SECURITY OF HIS/HER/ITS HOMES AND THE SAFETY OF PERSONS AND PERSONAL PROPERTY THEREIN. PURCHASER ACKNOWLEDGES THAT SELLER AND ITS EMPLOYEES, AGENTS, MANAGERS, DIRECTORS, OFFICERS, AND AFFILIATES ARE NOT INSURERS OF PURCHASER OR THE HOME, OR THE PERSONAL PROPERTY LOCATED WITHIN THE HOME. SELLER SHALL NOT BE RESPONSIBLE OR LIABLE FOR LOSSES, INJURIES, OR DEATHS RESULTING FROM ANY UNAUTHORIZED ACCESS TO THE HOME AND/OR COMMUNITY OR ANY OTHER SUCH OCCURRENCES. PURCHASER, ON BEHALF OF HIMSELF/HERSELF, ITSELF AND ON BEHALF OF PURCHASER’S FAMILY MEMBERS, TENANTS, GUESTS AND INVITEES, ASSUMES ALL RISK OF INJURY, LOSS OR DAMAGE SUFFERED OR CAUSED, WHETHER TO THEIR PERSON OR HOMES (INCLUDING CONTENTS THEREOF) AND ACKNOWLEDGE, UNDERSTAND AND AGREE THAT SELLER HAS NOT MADE ANY REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, TO PURCHASER, CONCERNING ANY SECURITY MEASURES RECOMMENDED OR UNDERTAKEN INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE RELATIVE TO ANY ACCESS CONTROL SYSTEM.




PURCHASER:

___________________________________

Name: ___________________________ Date: ___________________________

PURCHASER:

___________________________________

Name: _____________________________ Date: _____________________________


By: _______________________________

Name: ____________________________

Title: ______________________________

Date: _____________________________

Latitude Margaritaville at Daytona Beach Power Line and EMF Disclosure Addendum

THIS POWER LINE AND EMF DISCLOSURE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase Agreement (the “Agreement”) dated as of the day of , 20 between (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida, in the community known as Latitude Margaritaville at Daytona Beach (the “Property”).

XIX. Defined Terms. All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by this reference.

XX. Facilities and Conditions Affecting Property. Seller advises Purchaser that the Property is adjacent to or in the vicinity of electric transmission lines and equipment as more specifically described in this Addendum.

XXI. Utilities. Purchaser understands and acknowledges that among other utility lines and equipment, there are above-ground, overhead high voltage electric transmission lines, power lines and related equipment located adjacent to, near or in the vicinity of the Property and the utility companies have easements for construction, operation, and maintenance of the such facilities including, but not limited to, the overhead transmission and distribution lines, wires, cables, conduits, poles, towers, transformers, and related and appurtenant facilities and equipment (“Transmission Facilities”). Purchaser agrees not to interfere with the Transmission Facilities. There are existing Transmission Facilities located and operating adjacent to, near and/or in the vicinity of the Property. If Purchaser has any questions about safety or anything to do with the Transmission Facilities, Purchaser should contact Florida Power & Light at (386) 252-1541.

XXII. EMF. Power lines, transformers and related facilities and equipment give off electric and magnetic fields (“EMF”) and may also give off audible sounds. All electric appliances and electrical devices, including household appliances such as televisions, electric blankets, shavers, hair dryers and toasters, also generate EMF. Production of EMF from power lines is directly related to the amount of current sent through the transmission lines, and the utility company has the right to increase the amount of this current at any time. Seller has no control over the flow of electricity in the transmission lines or the strength of the EMF produced by the transmission lines. Also, Seller has no control over the electric and utility companies and cannot predict if the power company will (i) install additional Transmission Facilities, (ii) change the voltage of the Transmission Facilities, and/or (iii) modify, add to, or replace those Transmission Facilities now in existence. Electric service is essential to the very existence of the Property and other homes in the area, and EMF is a by-product of the use of electricity.

In June 1999, the National Institute of Environmental Health Sciences (“NIEHS”) concluded that while some evidence for the risk of cancer and other human disease from EMF around power lines does exist, it is “weak”. Nonetheless, NIEHS decided that a “weak” connection was enough to call EMF a “possible” carcinogen. On the other hand, the NIEHS said that the evidence did not seem to meet the standard for listing EMF as a known or even “anticipated” human carcinogen in the National Toxicology Program’s Report on Carcinogens.

You have received this disclosure because the Property is located near or adjacent to electric transmission lines and/or a transmission line easement. A great deal of information on the subject of EMF is available to you, including the following:

• a booklet produced by the NIEHS and the National Institutes of Health in June, 2002 entitled “Electric and Magnetic Fields Association with the Use of Electric Power Questions and Answers EMF;” • NIEHS Report on Health Effects from Exposure to Power-Line Frequency Electric and Magnetic Fields issued in May, 1999 which includes the Executive Summary of the NIEHS Report on Health Effects from exposure to Power-Line Frequency Electric and Magnetic Fields

The items listed above are available for review on the Internet as of the date of this notice at http://www.niehs.nih.gov/health/topics/agents/emf. Seller encourages you to access and review these items. In addition, Seller encourages you to investigate the potential risks associated with EMF and to draw your own conclusions. Seller and any of their authorized agents and sales agents do not have the knowledge or training to help resolve the question of or express an opinion on the health effects of EMF. You can get more information (a) by browsing the NIEHS website, which as of the date of this notice can be found at http://www.niehs.nih.gov, (b) by using the abbreviation “EMF” in an Internet search and reading the materials that the search reveals, and (c) from the electric company, which may have its own literature about EMF, and should also be willing to give you more detailed information about the specific transmission lines and facilities and their associated EMF exposure levels. You can also discuss this with your family doctor.

By signing this Addendum, Purchaser acknowledges that Purchaser has received, read, and understood this disclosure. By signing a copy of this Addendum, Purchaser also acknowledges and agrees that Seller shall have no responsibility to Purchaser for any costs, expenses, losses, liabilities or obligations of any kind or nature whatsoever arising out of or in any way related to EMF, or the Transmission Facilities or related facilities.

By signing a copy of this Addendum, Purchaser also acknowledge that Purchaser should disclose to any future buyers of the Property the proximity (or proposed proximity) of the transmission lines and related facilities and potential impacts of EMF exposure and Purchaser hereby promises Seller that Purchaser will do so.

XXIII. FPL Substation. FLORIDA POWER & LIGHT (“FPL ”) OWNS AN ELECTRICAL SUBSTATION WITHIN THE BOUNDARIES OF THE COMMUNITY AND, IN ADDITION, EASEMENT RIGHTS TO ACCESS THE ELECTRICAL SUBSTATION AS WELL AS THE RIGHT TO CONDUCT CONSTRUCTION, OPERATION, MAINTENANCE, REPAIR, ALTERATION, INSPECTION AND REPLACEMENT OF THE ELECTRICAL SUBSTATION AS WELL AS ALL APPURTENANT ELECTRICAL LINES, CONDUITS, MAINS, VALVES, METERS, TRANSFORMERS AND OTHER APPURTENANCES . AN ELECTRICAL SUBSTATION IS A HIGH-VOLTAGE ELECTRIC SYSTEM FACILITY THAT IS PART OF AN ELECTRICAL GENERATION, TRANSMISSION AND DISTRIBUTION SYSTEM. AN ELECTRICAL SUBSTATION IS USED TO SWITCH GENERATORS, EQUIPMENT, CIRCUITS AND LINES IN AND OUT OF AN ELECTRICAL SYSTEM, AND TRANSFORMS ELECTRICAL VOLTAGE FROM ONE LEVEL TO ANOTHER (I.E. HIGH TO LOW, OR THE REVERSE) AND/OR CHANGE ALTERNATING ELECTRICAL CURRENT TO DIRECT CURRENT OR DIRECT CURRENT TO ALTERNATING CURRENT. AMONG OTHER FUNCTIONS, THE ELECTRICAL SUBSTATION WITHIN THE COMMUNITY IS USED TO TRANSFORM POWER FROM MAJOR HIGH VOLTAGE POWERS LINES FOR USE IN RESIDENTIAL NEIGHBORHOODS INCLUDING THE COMMUNITY. THE ELECTRICAL SUBSTATION WILL BE FENCED-IN TO CONTROL ACCESS. THE ELECTRICAL SUBSTATION MAY HAVE CAPACITY TO AND MAY SERVE PROPERTIES OUTSIDE OF THE COMMUNITY. CERTAIN HOMES AS WELL AS COMMON AREAS WILL BE LOCATED WITHIN CLOSE PROXIMITY TO THE ELECTRICAL SUBSTATION. EACH OWNER ACKNOWLEDGES THE LOCATION AND PROXIMITY OF THE ELECTRICAL SUBSTATION WITHIN THE COMMUNITY, THE DANGERS ASSOCIATED WITH THE ELECTRICAL SUBSTATION INCLUDING, WITHOUT LIMITATION, HIGH VOLTAGE ELECTRICITY, THE EMISSION OF ELECTRICAL WAVES, AND ELECTROMAGNETIC FIELDS GENERATED BY POWER LINES. IN ADDITION, EACH OWNER UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT OPERATION OF THE ELECTRICAL SUBSTATION MAY CAUSE CERTAIN DISTURBANCES, INCLUDING SMELLS, ODORS AND/OR NOISES, AS WELL AS CERTAIN HARMFUL EFFECTS FROM THE EMISSION OF ELECTRICAL WAVES AND ELECTROMAGNETIC FIELDS GENERATED BY POWER LINES. NEITHER DEVELOPER (SELLER) NOR THE ASSOCIATION SHALL HAVE ANY LIABILITY TO AN OWNER AS A RESULT OF THE EXISTENCE OR OPERATION OF THE ELECTRICAL SUBSTATION.

XXIV. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum.

XXV. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects, the Agreement shall remain in full force and effect.

XXVI. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized officer of Seller.





SELLER: MINTO COMMUNITIES, LLC


LANDSCAPE ADDENDUM

THIS LANDSCAPE ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase Agreement (the “Agreement”) dated as of the ____day of _____________, 20___ between _______________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ________ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (the “Property”), in the community known as Latitude Margaritaville at Daytona Beach (the “Community”).

XXVII. Defined Terms. All initially capitalized terms not defined herein shall have the meanings set forth in the Agreement, and all references in this Addendum to the Agreement shall be deemed to include references to this Addendum and to any other addenda attached to the Agreement, which are hereby incorporated by this reference.

XXVIII. Landscape. Seller hereby advises Purchaser, and Purchaser understands, acknowledges and agrees that the landscaping for the Property will be based on Seller’s approved landscape plan for the Community. The initial landscaping for the Property will not be of the same maturity and growth as the landscaping located at the model homes for the Community, and the quantity, maturity, location, and species and types of landscaping and landscape materials for the Community will vary from the model homes and from home to home. The landscaping at the model homes is representative of the landscape vision and design contemplated at a maturity of at least two (2) years or more. Removal and replacement of, and additions and modifications to landscaping (as well as other modifications to the Property) are governed by the Declaration, community standards and/or design guidelines, rules of the Association, and other Community Documents, and no modifications removal, replacement, addition and/or modification of landscaping is permitted without the prior written approval of the Architectural Review Committee of the Association.

XXIX. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum.

XXX. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects, the Agreement shall remain in full force and effect.

XXXI. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized signatory of Seller.





SELLER:



8/3/17

COLOR SCHEME 1 2 3 4 5 6 7 8

Atlas Pinnacle Pristine

COLOR HEARTHSTONE HEARTHSTONE OYSTER HEATHER OYSTER WEATHERED WEATHERED HEATHER

DRIP EDGE PROFILE "F" STYLE "F" STYLE "F" STYLE "F" STYLE "F" STYLE "F" STYLE "F" STYLE "F" STYLE EAVE METAL COLOR (Riser

& Drip) WHITE WHITE WHITE WHITE WHITE WHITE WHITE WHITE

METAL ROOF Accents GALVALUME

PLUS GALVALUME

PLUS GALVALUME

PLUS GALVALUME

PLUS GALVALUME

PLUS GALVALUME

PLUS GALVALUME

PLUS GALVALUME PLUS

SPECIFICATION Standing Seam Standing Seam Standing Seam Standing Seam Standing Seam Standing Seam Standing Seam Standing Seam

GUTTERS standard standard standard standard standard standard standard standard

DOWNSPOUT standard standard standard standard standard standard standard standard

COLOR Galvanized color Galvanized Color Galvanized Color Galvanized Color Galvanized Color Galvanized Color Galvanized Color Galvanized Color

BODY COLOR BLUE HORIZON SPRINGTIME HONEST BLUE POPULAR GRAY EXTRA WHITE MELOW CORAL RECLINING

GREEN DELICIOUS MELON 6497 6708 6520 6071 7006 6324 6744 6653

ACCENT BODY COLOR SUMMER WHITE TIDEWATER WHITE MINT SPINACH WHITE BREAKTIME BELVEDERE

CREAM SUMMER WHITE CRÈME 7557 6477 6441 6434 6463 0067 7557 7556

TRIM, FASCIA, BRACKETS/RAFTER TAILS,

GARAGE DR

EXTRA WHITE EXTRA WHITE EXTRA WHITE EXTRA WHITE EXTRA WHITE EXTRA WHITE EXTRA WHITE EXTRA WHITE 7006 7006 7006 7006 7006 7006 7006 7006

SHUTTERS / FRONT DOOR INDIGO FRESHWATER MOONRAKER NAUTILUS INTENSE TEAL CORNWALL

SLATE SPORTY BLUE JAMAICA BAY 6531 6774 6701 6780 6943 9131 6522 6781

WINDOW FRAMES WHITE WHITE WHITE WHITE WHITE WHITE WHITE WHITE

SCREEN ENCLOSURES BRONZE BRONZE BRONZE BRONZE BRONZE BRONZE BRONZE BRONZE

PAVER COLOR Glacier Glacier Glacier Glacier Glacier Glacier Glacier Glacier 4x8 BASKET WEAVE

EXTERIOR LIGHTS - Progress P5623-82 Metallic

Gray Metallic Gray Metallic Gray Metallic Gray Metallic Gray Metallic Gray Metallic Gray Metallic Gray Metallic Gray

UNDER NO CIRCUMSTANCES SHALL COLOR SCHEMES BE CHANGED OR ALTERED. ALL COLOR SCHEME SELECTIONS ARE FINAL. RESELECTIONS ARE STRICTLY PROHIBITED.

* - THIS SELECTION REPLACES THE STANDARD ROOF TILE LOCATION WITH THE METAL ROOF OPTION. ELEVATION SPECIFIC INCLUDED METAL ROOFING AREAS WILL REMAIN WHEN SELECTED.

** - THIS SELECTION WILL REPLACE THE STANDARD ROOF TILE COLOR WITH ALL WHITE. ELEVATION SPECIFIC INCLUDED METAL ROOFING AREAS WILL REMAIN WHEN SELECTED.

PAVER NOTES: 1. Pavers are NOT sealed. Sealer may be applied by purchaser after closing.

2. Minto shall not be responsible for staining or discoloration after closing.

PURCHASER

DATE 3. Purchaser acknowledges colors may vary due to inherent characteristics of raw materials and Minto will not be responsible for shade variations.

Door hardware to be black.

PURCHASER

DATE

Purchaser: Community/Neighborhood/Village: Latitude Margaritaville Daytona Model Type: Elevation: Lot: Block/Parcel ______

FHA/VA ADDENDUM

THIS FHA/VA ADDENDUM (this “Addendum”) is executed in conjunction with and, by this reference, incorporated into the Purchase and Sale Agreement (the “Agreement”) dated as of the _____ day of _______________, 20____, between _______________________________________________________ (collectively, “Purchaser”) and Minto Communities, LLC, a Florida limited liability company (“Seller”), respecting Lot ____ of the Plat of Latitude at Daytona Beach Phase 1, according to the Plat thereof, recorded in Plat Book ____, Page ____ of the Public Records of Volusia County, Florida (“Home”), in the community known as Latitude Margaritaville at Daytona Beach (the “Community”).


2. FHA. IN THE EVENT THAT FHA FINANCING IS AVAILABLE, PURCHASER AGREES TO PROCEED WITH THE PURCHASE OF THE HOME AFTER HAVING READ PURCHASER’S RIGHTS AND PRIVILEGES, AS SET FORTH BELOW:

(a) FHA Loans.

(i) It is expressly agreed that, notwithstanding any provisions of the Agreement (contract) to the contrary, Purchaser shall not incur any penalty by forfeiture of earnest money deposits or otherwise nor shall Purchaser be obligated to complete the purchase of the Home (property described herein) unless Purchaser has been given in accordance with the Department of Housing and Urban Development (“HUD”), Federal Housing Administration (“FHA”) or United States Department of Veterans Affairs (the “VA”) requirements, a written statement by the Federal Housing Commissioner, the VA, or a Direct Endorsement lender setting forth the appraised value of the Home (property) (for mortgage purposes) of not less than $ ___________________________ (which statement Seller agrees to deliver to Purchaser promptly after such Appraised Value Statement is made available to Seller). Purchaser understands, acknowledges and agrees that the Total Purchase Price of the Home may increase in the event Purchaser adds options, extras and/or upgrades. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. Purchaser shall have the privilege and option of proceeding with the consummation of the Agreement (the contract) without regard to the amount of the appraised valuation and/or maximum mortgage HUD will insure. HUD DOES NOT WARRANT THE VALUE OR THE CONDITION OF THE HOME (PROPERTY). PURCHASER SHOULD SATISFY HIMSELF/HERSELF THAT THE PRICE AND CONDITION OF THE HOME (PROPERTY) ARE ACCEPTABLE.

(ii) In the event that the value of the Home (Property) set forth in the Appraised Value Statement is less than the Total Purchase Price, Purchaser shall have the right to exercise the above-mentioned privilege and option to proceed at the Total Purchase Price, which is over and above the FHA Appraised Value Statement, by giving Seller written notice of Purchaser’s intention to do so in accordance with the Agreement notice requirements. Such notice shall be given within five (5) days of Purchaser’s receipt of the FHA appraisal by returning to Seller a copy of this Addendum executed by Purchaser in the “AGREE TO PROCEED” signature block in Section 2(c) below. In the event Purchaser fails to give proper notice hereunder of Purchaser’s intention to proceed at the Total Purchase Price, the Agreement shall automatically become null and void and the parties shall promptly execute a written release of Purchaser’s Deposit, pursuant to which the Deposit shall immediately be returned in full to Purchaser.

(iii) Pursuant to federal regulations, a one-time mortgage insurance premium must be paid to FHA at the time of Closing. Purchaser agrees to pay a mortgage insurance premium as required by FHA regulations. Purchaser has the right to pay the entire one-time mortgage insurance premium at the time of Closing or the premium may be added to the loan amount and financed over the term of the loan. If Purchaser elects to add the premium to the loan amount, the total loan amount shall consist of the cash to close amount specified in the Agreement, plus the mortgage insurance premium. Pursuant to FHA regulations, in addition to the one-time mortgage insurance premium, Purchaser shall pay an annual mortgage insurance premium, if required, which additional premium shall be paid monthly. Lender’s fees charged to Seller shall be paid by Seller.

(iv) All parties acknowledge that the processing of a government loan is not subject to specific time limitations. Nevertheless, Purchaser agrees to diligently pursue such loan commitment.

(v) Seller, Purchaser, and cooperating broker (if any) certify that the terms of the Agreement are true and complete to the best of their respective knowledge and belief. Seller, Purchaser, and cooperating broker (if any) further certify that all agreements relating to this real estate transaction have been fully disclosed and are covered in the Agreement, including any addenda attached thereto. Seller, Purchaser, and cooperating broker (if any) understand that the failure to provide a complete and accurate copy of the Agreement could jeopardize this transaction and further fully understand that it is a federal crime punishable by fine, imprisonment or both to knowingly make any false statements concerning any of the above facts as applicable under the provisions of Title 18, United States Code, Sections 1012 and 1014. If there are any subsequent changes to the Agreement, the undersigned will submit them promptly to the Lender.

(vi) Purchaser acknowledges that Purchaser has received and reviewed the attached U.S. Department of Housing and Urban Development form HUD-92564-CN entitled “For Your Protection: Get a Home Inspection”.

(vii) It is expressly agreed that, notwithstanding any provisions of the Agreement (contract) to the contrary, Purchaser shall not pay for any costs or fees prohibited by HUD (FHA) regulations. Seller shall pay the documentary stamp taxes or other taxes on the Deed, and Purchaser shall pay all additional costs chargeable to Purchaser under FHA regulations. Should the settlement charges that FHA does not allow Purchaser to pay exceed the amount, if any, to be paid by Seller, Purchaser may either pay the additional settlement charges or the interest rate on the loan will increase to an interest rate attainable with the settlement charges to be paid by Seller. In the event Purchaser decides to lock-in the interest rate and points prior to closing, Purchaser agrees to pay the difference between the market rate and the lock-in rate as of the date that the loan rate is locked.

(b) VA Loans.

(i) In the event VA financing is available, it is expressly agreed that, notwithstanding any provisions of the Agreement to the contrary, Purchaser shall not incur any penalty by forfeiture of earnest monies or otherwise be obligated to complete the purchase of the Home if Purchaser cannot obtain a loan guaranteed by the VA, including without limitation, if the Total Purchase Price exceeds the reasonable value of the Home established by the VA or a VA lender pursuant to the Lender Appraisal Proceeding Program (“LAPP”). Purchaser shall, however, have the privilege and option of proceeding with the consummation of the Agreement without regard to the amount of reasonable value established by the VA or a VA lender with LAPP authority. Purchaser agrees that should Purchaser elect to complete the purchase at an amount in excess of the reasonable value established by the VA or a VA LAPP lender, Purchaser shall pay such excess amount in cash from a source that Purchaser agrees to disclose to the lender and the VA, which source Purchaser represents and covenants will not be from borrowed funds except as approved by the VA.

(ii) To exercise the above-mentioned privilege and option to proceed at the Total Purchase Price, which is over and above the amount of reasonable value established by the VA or a VA LAPP lender, Purchaser shall give Seller written notice of Purchaser’s intention to do so in accordance with the Agreement notice requirements. Such notice shall be given within five (5) days of Purchaser’s receipt of the amount of reasonable value established by the VA or a VA LAPP lender by returning to Seller a copy of this Addendum executed by Purchaser in the “AGREE TO PROCEED” signature block in Section 2(c) below. In the event Purchaser fails to give proper notice hereunder of Purchaser’s intention to proceed at the Total Purchase Price, the Agreement shall automatically become null and void and the parties shall promptly execute a written release of Purchaser’s Deposit, pursuant to which the Deposit shall immediately be returned in full to Purchaser.

(iii) VA DOES NOT WARRANT THE VALUE OR THE CONDITION OF THE HOME. BUYER (PURCHASER) SHOULD SATISFY HIMSELF/HERSELF THAT THE PRICE AND CONDITION OF THE HOME ARE ACCEPTABLE.

(c) AGREE TO PROCEED: Please Check þ: FHA o VA o

Purchaser Purchaser

Purchaser Purchaser

(d) Special Trust Account. If Buyer is financing the purchase of the Home with an FHA insured or VA guaranteed loan, the Deposits received from Buyer prior to Closing shall be placed in a special trust account as required under 38 U.S.C. §3706 or other applicable law subject to the rights of Seller under the Agreement, if any, to use the Deposit for construction costs relating solely to the construction of the Home.

3. Counterparts. This Addendum may be executed in counterparts, a complete set of which shall form a single Addendum. 4. Conflicts. In the event of any conflict between this Addendum and the Agreement, this Addendum shall control. In all other respects the Agreement shall remain in full force and effect. 5. Entire Agreement. The Agreement, together with this Addendum and any other addenda to the Agreement, contains the entire agreement between Purchaser and Seller concerning the matters set forth herein. All prior discussions, negotiations and contracts, if any, whether oral or written, are hereby superseded by these documents. No addition or modification of this Addendum or the Agreement shall be effective unless set forth in writing and signed by Purchaser and an authorized agent of Seller.







COOPERATING BROKER: , by its Sales Associate

By:

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