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MASTER DECLATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS
FOR
GRAND HAVEN

          THIS MASTER DECLARATIN OF CVENATNS, CONDITIONS, AND RESTRICITONS FOR GRAND HAVEN (the “Declaration”) is made as of the 16th day of March, 2001, by PINEDA PARTNERS, L.L.C., a Florida limited liability company, with mailing address at Post Office Box 3767, Cocoa, Florida 32934 (hereinafter referred to as “Developer”) which declares that the real property described in Article II, which is owned by the Developer, is subject and shall be held, transferred, sold, conveyed and occupied subject to the covenants, conditions, restrictions, easements, reservations, charges and liens hereinafter set forth.

ARTICLE I – DEFINITIONS

          The following words used in this Declaration (unless the context shall prohibit) shall have the following meanings:

          Section 1.1   “Articles” shall mean the Articles of Incorporation of the Association, a copy of which is attached hereto and made a part hereof as Exhibit B.

          Section 1.2   “Assessment” shall mean a share of the Association Expenses which from time to time are assessed against the Lots and Lot Owners, commencing from the time each Lot becomes a Contributing Lot.

          Section 1.3   “Association” shall mean and refer to Grand Haven Master Homeowners Association, Inc., a Florida corporation not for profit, and its successors and assigns.

          Section 1.4   “Association Expenses” shall mean the expenses are charges described in this Declaration incurred or to be incurred by the Association and assessed or to be assessed upon the Lots and the Owners thereof.

          Section 1.5   “Board” or “Board of Directors” shall mean the Board of Directors of the Association.

          Section 1.6   “Bylaws” shall mean the Bylaws of the Association, a copy of which is attached hereto and made a part hereof as Exhibit C.

          Section 1.7   “Common Property” or “Common Properties” shall mean and refer to (i) all areas shown no a recorded plat of the Properties which are to be conveyed to, controlled and maintained the Association, including, without limitation, the common recreational areas and the associated recreational amenities located or constructed thereon, (ii) all landscaping and improvements lying within the public ways which is to be maintained by the Association, (iii) entry features or signs erected by the Developer to identify Grand Haven or any individual phase or section thereof, (iv) any special design feature lying within public ways, (v) any landscaping, fences, walks, signs and wall installed by the Developer or the Association in any Common Property and (vi) such other property, both real and personal, acquired by the Association by purchase, gift, lease or otherwise.  The Association shall be responsible to maintain, repair and replace the Common Property or Common Properties as hereinafter provided.  Developer shall have the right, subject to obtaining all required governmental approvals and permits, to construct on the Common Property or Common Properties such facilities, if any, as the developer deems appropriate.  The timing and phasing of all such construction, if any, shall be within the sole discretion of the Developer.

          Section 1.8   “Declaration” or “Declaration of Covenants and Restrictions” shall mean this Declaration of Covenants, Conditions and Restrictions, as the same may be amended from time to time in the manner provided therein.

          Section 1.9   “Developer” shall mean Pineda Partners, L.L.C., a Florida limited liability company, and its successors and assigns, but only if the instrument by which such successor or assignee assume the interest of Pineda Partners, L.L.C. in this development expressly provides that such successor or assignee shall become the Developer hereunder.  A builder, contractor or other person which purchases one or more Lots for the purpose of constructing dwelling units shall not be deemed to be a “Developer.”

          Section 1.10 “Easement” or “Easement Areas” shall mean and refer to all of the various easements and easement areas upon any Lot as designated on any recorded subdivision plat or plats of the Properties.

          Section 1.11 “First Mortgage” means any mortgage constituting a lien prior in dignity to all other mortgages encumbering the same Lot.

          Section 1.12 “Grand Haven” means the planned residential development to be developed upon the Properties, and which thus becomes subject to this Declaration.

          Section 1.13 “Institutional Mortgage” means (a) any lending institution having a first mortgage lien upon a Lot, including any of the following institutions:  a federal or state savings and loan or building and load association, or bank or real estate investment trust, or mortgage banking company doing business in the State of Florida; or (b) any “Secondary Mortgage Market Institution,” including the Federal National Mortgage Corporation, Government National Mortgage Association, Federal Home Loan Mortgage Corporation, and such other secondary mortgage market institution as the Board shall hereafter approve in writing which has acquired a first mortgage upon a Lot; or © any pension or profit-sharing funds qualified under the Internal Revenue Code; or (d) any and all investing or lending institutions, or the successors and assigns of such lenders (herein referred to as the “Lenders”) which has loaned money to Developer to acquire, or construct improvements upon, the Properties and which holds a mortgage upon any portion of the Properties securing such a loan.

          Section 1.14 “Limited Common Property” or “Limited Common Properties” means those Common Properties which are reserved for the exclusive us or benefit of the owners of Lots within designated phases or sections of Grand Haven, together with all landscaping and improvements located thereon.  The Developer may, be deed restriction or other recorded instrument, designate portions of the Properties as Limited Common Properties and to convey fee simple title to such Limited Common Property or Limited Common Properties to the Association.  The Association shall be responsible to maintain, repair and replace the Limited Common Property or Limited Common Properties as hereinafter provided, however, the cost of such maintenance, repair and replacement shall be only among the owners of Lots within the phases or sections having the use or benefit of such Limited Common Elements.  Developer shall have the right, subject to obtaining all required governmental approvals and permits, to construct on the Limited Common Property or Limited Common Properties such facilities, if any, as the Developer deems appropriate, including, without imitation, entry gates and features with respect to individual phases or sections.  The timing and phasing of such construction, if any, shall be within the sole discretion of the Developer.

          Section 1.15 “Lot” shall mean and refer to any numbered lot on a recorded subdivision plat of the Properties, excluding the Common Properties.

          Section 1.16 “Lot Owner” shall mean and refer to the  record owner, whether one or more persons or entities, of the fee simple title to any Lot which is a part of the Properties.

          Section 1.17 “Member” shall mean and refer to all those Owners who are Members of the Association as provided in Section 3.1 and Section 3.2 hereof.

          Section 1.18 “Mortgage” means any recorded Mortgage, Deed of Trust or other instrument transferring any interest in a Lot as security for the performance of an obligation.

          Section 1.19 “Occupant” shall mean the person or persons other than the Lot Owner in possession of the Lot.

          Section 1.20 “Property” or “Properties” shall mean and refer to the real property described in Section 2.1 hereof, as now made subject to this Declaration, except such as are withdrawn from the provisions hereof in accordance with the procedure hereinafter set forth.

          Section 1.21 “Sandhill Crane conservation Easement Areas” shall mean and refer to those portions of the Common Property designated as preserved wetlands for sand hill crane nesting areas, buffers for sand hill crane nesting areas and sand hill crane foraging areas on a recorded subdivision plat of the Properties and/or in a separate conservation easement agreement recorded in the Public Records of Brevard County, Florida, including, without limitation, Tracts I, J, K, L and AAA, according to the plat of  Grand Haven, Phase One, as recorded in Plat Book 46, Pages 55 through 67, Public Records of Brevard County, Florida.

          Section 1.22 “Sandhill Crane Management Plan” shall mean and refer to that certain Sandhill Crane Management Plan prepared by Modica and Associates, Inc. as approved by the St. Johns River Water Management District, a copy of which is attached hereto and made a part hereof as Exhibit D.

          Section 1.23 “Surface Water or Stormwater Management System” shall mean a system which is designated and constructed or implemented to control discharges which are necessitated by rainfall events, incorporation methods to collect, convey, store, absorb, inhibit, treat, use or reuse water to prevent or reduce flooding, overdrainage, environmental degradation, and water pollution or otherwise affect the quantity and quality discharges from the system, as permitted pursuant to Chapters 40C-4, 40C-40, or 40C-42, F.A.C.

          Section 1.24 “Surplus” shall mean the excess of all receipts of the Association from the Lot Owners and any other income accruing to the Association over and above the amount of the Association Expenses.

          Section 1.25 “Wetland Conservation Easement Areas” shall mean and refer to those portions of the Common Property designated for conservation of preserved wetlands and uplands on a recorded subdivision plat of the Properties and/or in a separate conservation easement agreement recorded in the Public Records of Brevard County, Florida, including, without limitation, Tracts A, B and E, according to the plat of Grand Haven Phase One, as recorded in Plat Book 46, Pages 55 through 67, Public Records of Brevard County, Florida, together with those portions of the Lots as are designated as wetland conservation easements on a recorded subdivision plat of the Properties.

          The foregoing definitions shall be applicable to this Declaration and also shall be applicable to the Articles of Incorporation and Bylaws of the Association, unless otherwise expressly provided herein or therein.