THIRD AMENDMENT TO DECLARATION OF MASTER COVENANTS, CONDITIONS AND RESTRICTIONS OF AVALON PARK PROPERTY OWNERS ASSOCIATION

This Instrument Prepared by and Return to: Michael A. Ungerbuehler, Esquire Law Offices of John L. Di Masi, P.A. 801 N. Orange Avenue, Suite 500 Orlando, Florida 32801 THIRD AMENDMENT TO DECLARATION OF MASTER COVENANTS, CONDITIONS AND RESTRICTIONS OF AVALON PARK PROPERTY OWNERS ASSOCIATION THIS THIRD AMENDMENT TO DECLARATION OF MASTER COVENANTS, CONDITIONS AND RESTRICTIONS OF AVALON PARK PROPERTY OWNERS ASSOCIATION ( Amendment ) is made and entered into this day of June 2008, by Avalon Associates of Delaware Limited Partnership, a Florida limited partnership, whose address is 13001 Founders Square Drive, Orlando, Florida 32828 ( Developer ). WITNESSETH WHEREAS, Developer created a general plan of development for the planned community commonly known as Avalon Park, and created the Avalon Park Property Owner s Association, Inc., a Florida not-for-profit corporation ( Association ) as a homeowners association governed by Chapters 720 and 617, Florida Statutes in order to operate and maintain such planned community; and WHEREAS, in connection with the general plan of development and creation of the Association, Developer filed that certain Declaration of Master Covenants, Conditions and Restrictions of Avalon Park Property Owners Association, recorded in Book 5593, Pages 2234, et. seq., amended by that certain First Amendment to Declaration of Master Covenants, Conditions and Restrictions of Avalon Park Property Owners Association, recorded in Book 5807, Pages 4454, et. seq.,; and that certain Second Amendment to Declaration of Master Covenants, Conditions and Restrictions of Avalon Park Property Owners Association, recorded in Book 87871, Pages 3799, et. seq.; and supplemented by that certain Supplemental Declaration of Master Covenants, Conditions and Restrictions, recorded in Book 6706, Pages 4316, et. seq.; that certain Supplemental Declaration of Master Covenants, Conditions and Restrictions, recorded in Book 8067, Pages 3962, et. seq.; and that certain Supplemental Declaration of Master Covenants, Conditions and Restrictions, recorded in Book 8917, Pages 3852, et. seq., all of the Public Records of Orange County, Florida (all of which is hereinafter collectively referred to as the Declaration ); and WHEREAS, certain Units within the Properties were built as attached townhomes, with common party walls and common party roofs (the Townhomes ), which require additional and/or alternate maintenance obligations and involve maintenance issues and concerns that differ than all other Units within the Properties; and WHEREAS, Developer seeks in this Amendment to clarify the responsibilities of

maintenance set forth in this document; and WHEREAS, pursuant to Section 18.1 of the Declaration, until termination of the Class B Control Period, Developer may unilaterally amend the Declaration for any purposes, provided the amendment has no materially adverse effect upon any material rights of any affected Owner; and WHEREAS, Developer reasonably believes that the terms of this Amendment will not materially effect any material right of any affected Owner in an adverse manner; and WHEREAS, the Class B Control Period has not terminated; and WHEREAS, pursuant to Section 18.3 of the Declaration, any amendment to the Declaration shall become effective upon its recordation in the Public Records of Orange County, Florida. NOW THEREFORE, Developer desires to supplement and amend the Declaration as follows: 1. Recitals. The foregoing recitals are hereby incorporated and made a part of this Amendment as if more fully set forth herein. 2. Definitions. Unless otherwise specifically set forth herein this Amendment, any capitalized terms used herein shall have the meanings as assigned to them in the Declaration. 3. Amendment. Developer hereby amends and modifies the Declaration as follows: a. Article V is hereby amended by adding a new Section 5.5 as follows: 5.5 Maintenance of Townhomes. (a) Identification of Townhomes. The following are deemed Townhomes, subject to this Section 5.5 of the Declaration. (i) (ii) LOTS 96 THROUGH 147, BLOCK A, OF AVALON PARK SOUTH PHASE 1; LOTS 35 THROUGH 53, 60 THROUGH 66, BLOCK B, OF AVALON PARK SOUTH PHASE 1; LOTS 1 THROUGH 6, BLOCK C, of AVALON PARK SOUTH PHASE 1; all according to the Plat thereof as recorded in Plat Book 52, Pages 113 through 124 inclusive, of the Public Records of Orange County, Florida (the Avalon Park South Phase 1 Townhomes ); LOTS 1 THROUGH 206, BLOCK A, OF AVALON PARK SOUTH PHASE 3; according to the Plat thereof as recorded in Plat Book 54, Pages 39 through 43 inclusive, of the Public Records of Orange County, Florida (the Avalon Park South Phase 3 Townhomes ); 2

(iii) LOTS 10 THROUGH 17, BLOCK A, OF AVALON PARK VILLAGE 3; LOTS 12 THROUGH 19, BLOCK B, OF AVALON PARK VILLAGE 3; LOTS 10 THROUGH 17, BLOCK C, OF AVALON PARK VILLAGE 3; LOTS 17 THROUGH 24, BLOCK D, OF AVALON PARK VILLAGE 3; LOTS 15 THROUGH 44, BLOCK E, OF AVALON PARK VILLAGE 3, all according to the Plat thereof as recorded in Plat Book 47, Pages 96 through 104 inclusive, of the Public Records of Orange County, Florida (the Avalon Park Village 3 Townhomes ); (iv) LOTS 24 THROUGH 69; LOTS 75 THROUGH 86; LOTS 92 THROUGH 101 OF AVALON PARK VILLAGE 4, all according to the Plat thereof as recorded in Plat Book 53, Pages 66 through 70 inclusive, of the Public Records of Orange County, Florida (the Avalon Park Village 4 Townhomes ); (v) LOTS 38 THROUGH 53; LOTS 58 THROUGH 65; LOTS 77 THROUGH 84; LOTS 246 THROUGH 269; LOTS 291 THROUGH 314, OF AVALON PARK VILLAGE 5, according to the Plat thereof as recorded in Plat Book 51, Pages 58 through 66 inclusive, of the Public Records of Orange County, Florida (the Avalon Park Village 5 Townhomes ); (vi) LOTS 201 THROUGH 294, LOTS 313 THROUGH 340, OF AVALON PARK VILLAGE 6, according to the Plat thereof as recorded in Plat Book 56, Pages 123 through 130 inclusive, of the Public Records of Orange County, Florida (the Avalon Park Village 6 Townhomes ); (vii) LOTS 113 THROUGH 120; LOTS 133 THROUGH 140; LOTS 153 THROUGH 160; LOTS 169 THROUGH 202; LOTS 328 THROUGH 335; LOTS 375 THROUGH 393; LOTS 406 THROUGH 432; LOTS 437 THROUGH 480; LOTS 485 THROUGH 502; LOTS 536 THROUGH 571, OF AVALON PARK NORTHWEST VILLAGE PHASES 2, 3 AND 4, according to the Plat thereof as recorded in Plat Book 63, Pages 94 through 103 inclusive, of the Public Records of Orange County, Florida (the Avalon Park Northwest Village Phases 2, 3 and 4 Townhomes ); (viii) (ix) LOTS 1 THROUGH 103, OF AVALON PARK NORTHWEST VILLAGE PHASE 5, A REPLAT, according to the Plat thereof as recorded in Plat Book 66, Pages 13 and 14, of the Public Records of Orange County, Florida (the Avalon Park Village 5 Townhomes ); LOTS 1 THROUGH 41, OF AVALON TOWN CENTER, TRACT 52, according to the Plat thereof as recorded in Plat Book 59, Pages 69 3

and 70, of the Public Records of Orange County, Florida (the Avalon Town Center Tract 52 Townhomes ); (x) (xi) (xii) LOTS 1 THROUGH 48 OF AVALON PARK VILLAGE 4A AND 4B, according to the Plat thereof as recorded in Plat Book 68, Pages 140 and 141, Public Records of Orange County, Florida (the Avalon Park Village 4A&4B Townhomes ); LOTS 1 THROUGH 80 OF AVALON TOWN CENTER, TRACTS 20, 21, 22 AND 23, according to the Plat thereof as recorded in Plat Book 50, Pages 54 through 57, inclusive, Public Records of Orange County, Florida (the Avalon Town Center Tracts 20, 21, 22, & 23 Townhomes ); LOTS 1 THROUGH 12 OF AVALON PARK MODEL CENTER, according to the Plat thereof as recorded in Plat Book 47, Pages 18 and 19, Public Records of Orange County, Florida (the Avalon Park Model Center Townhomes ). (b) Maintenance and Repair Obligations for Townhomes. Notwithstanding the provisions of Section 5.1 herein and any other provision of the Declaration that requires the Owner of a Unit to maintain such Unit, the following maintenance obligations apply solely to all Townhomes: (i) Owner s Maintenance Obligations. (A) (B) General Maintenance. Each Owner of a Townhome shall maintain his or her Townhome, and all structures and other improvements, including the dwelling, comprising the Townhome in a manner consistent with the Community-Wide Standard unless such maintenance responsibility is otherwise assumed by or assigned to the Association pursuant to this Amendment or other declaration of covenants applicable to such Townhome. Other Exterior Maintenance. The following aspects of exterior maintenance are specifically excluded from the Association s duty thereof, and are, thus, the responsibility of each Townhome Owner: (1) Maintenance of the Townhome in such a manner as to avoid the appearance of any unsightly or unkempt condition from occurring, including but not limited to removal of all debris on or about the Townhome regardless of the reason such debris is on the Townhome; (2) Maintenance, repair and/or replacement of glass surfaces, 4

or screens; (3) Maintenance, repair and/or replacement of exterior doors, including garage doors and patio doors; (4) Maintenance, repair and/or replacement of covered patios and fencing; (5) Maintenance, repair and/or replacement of all exterior ornamental pieces; (6) Maintenance, repair and/or replacement of any posts or columns attached to a Townhome; (7) All cleaning and repairs to the exterior of the Townhome including without limitation all repairs that are specific to a particular Townhome except as it is expressly assumed by the Association; (8) Maintenance, repair and/or replacement of (1) any trees, shrubs, or landscaped areas installed or created by any Townhome Owner; or (2) any yard, landscaped areas, courtyards or patios that are enclosed as private areas and/or any other space to which the Association does not have access (regardless of cause for such inaccessibility); (9) Maintenance, repair or replacement of any exterior lighting fixtures or other similar attachments; (10) All roofing repairs, when deemed necessary in the Association s sole discretion except as assumed by the Association; (11) All painting of the Townhome, when deemed necessary in the Association s sole direction except as assumed by the Association; (12) Maintenance, repair and/or replacement of all gutters, downspouts, soffits, and/or fascia; (13) Maintenance, repair and/or replacement of the exterior surfaces of the Townhomes not otherwise assumed by the Association; (14) Maintenance, repair or replacement required due to the occurrence of any fire, wind, vandalism or other casualty; 5

(15) Maintenance, repair and/or replacement of irrigation systems to which the Association does not have access (regardless of cause for such inaccessibility). To the extent the Association is unable to access any portion of a Townhome s irrigation system due to the action(s) and/or inaction(s) of such Townhome s Owner and the vegetation on such Townhome Lot fails to survive and/or flourish and, as a result, requires replacement, the Association will replace such vegetation and the costs associated therewith, including but not limited to attorneys fees and costs incurred, shall be levied as a Specific Assessment in accordance with Section 8.5 of the Declaration; (16) Maintenance, repair and/or replacement of any item of maintenance obligation of the Association that would otherwise be assumed and performed by the Association pursuant to Section 5.5(b)(ii) hereof but could not be performed by the Association upon reasonable attempt due to a Townhome Owner s action(s) and/or inaction(s) that prevent the Association from performance thereof. (C) (D) Each Owner shall be responsible for obtaining and maintaining property insurance on all insurable improvements on the Owner s Townhome. If the Association assumes responsibility for obtaining any insurance coverage on behalf of Owners hereunder, the premiums for such insurance shall be levied as a Specific Assessment against the benefited Townhome and the Owner thereof pursuant to Section 8.5 of the Declaration. Owner s Failure to Perform. In addition to any other enforcement rights, if an Owner fails to properly perform his or her maintenance responsibility, the Association may perform such maintenance responsibilities and assess all costs incurred by the Association in affecting such maintenance, including but not limited to attorneys fees and costs incurred, against the Townhome and the Owner as a Specific Assessment, in accordance with Section 8.5 of the Declaration. The Association shall afford the Owner prior written notice and opportunity to cure the problem prior to levying such a Specific Assessment, except when necessary due to an emergency situation. (ii) Association s Maintenance Obligations. In addition to its obligation to maintain the Common Area, the Association shall also maintain the following with respect to each Townhome: (A) all landscaping, including without limitation mulching thereof, 6

installed by the Association, and/or replacement of any and all sprinkler lines/heads, lying within the right-of-way of adjacent public streets and alleys between the Townhome boundary and the curb of such public street or alley, between the Townhome boundary and any adjacent easements for pedestrian paths or sidewalks; (B) (D) (E) completely repaint the exterior building surfaces of the Townhomes as the Association deems necessary in its sole discretion. Notwithstanding, should the Association determine, in its sole and absolute discretion, that a complete repainting is not necessary, then the Association may delay such repainting to a later date, as determined in the Association s sole and absolute discretion, and shall apply any and all assessments that had been collected for the repainting towards the applicable delayed repainting date. In the event the Association determines, in its sole and absolute discretion, that an additional complete repainting ( Additional Repainting ) is necessary at any time, a Specific Assessment shall be levied against such Townhomes as is applicable to cover the cost associated with such Additional Repainting that benefited such Townhomes; completely replace the roofs of the Townhomes as the Association deems necessary in its sole discretion. Notwithstanding, should the Association determine, in its sole and absolute discretion, that a complete replacement of the roof is not necessary, then the Association may delay such roof replacement to a later date, as determined in the Association s sole and absolute discretion, and shall apply any and all assessments that had been collected for the scheduled roof replacement date towards the applicable delayed roof replacement date. In the event the Association determines, in its sole and absolute discretion, that an additional complete replacement of the roofs ( Additional Roof Replacement ) is necessary at any time, a Specific Assessment shall be levied against such Townhomes as is applicable to cover the cost associated with such Additional Roof Replacement that benefited such Townhomes; and maintain a termite bond for the exterior of every Townhome. (c) Townhome Painting Reserve. In connection with its obligation to completely repaint the exterior surface areas of each Townhome, for each abovedescribed areas of Townhomes (as identified in Section 5.5(a)(i)-(xii) above), the Association shall establish a reserve to fund the projected costs thereof (the Townhome Painting Reserve ), the cost of which shall be a Specific Assessment levied against the Townhomes of each of such respective areas of 7

Townhomes for which such Townhome Painting Reserve is established. The funding of each such Townhome Painting Reserve shall be in accordance with Article 8 of the Declaration. (d) Townhome Roof Reserve. In connection with its obligation to completely repaint the exterior surface areas of each Townhome, for each of the respective areas of Townhomes (as identified in Section 5.5(a)(i)-(xii) above), the Association shall establish a reserve to fund the projected costs thereof (the Townhome Roof Reserve ), the cost of which shall be a Specific Assessment levied against the Townhomes of each of such respective areas of Townhomes for which such Townhome Roof Reserve is established. The funding of each such Townhome Roof Reserve shall be in accordance with Article 8 of the Declaration. 4. Full Force and Effect of Declaration. Except as hereby amended, the Declaration shall remain in full force and effect in strict accordance with its terms. 5. Conflict. To the extent that the terms, covenants and conditions of this Amendment are inconsistent with the terms of the Declaration, the terms, covenants and conditions of this Amendment shall control. 6. Effective Date. This Amendment shall become effective upon being recorded in the Public Records of Orange County, Florida. IN WITNESS WHEREOF, Developer has executed this Amendment on this day of June 2008. [SIGNATURES APPEAR ON FOLLOWING PAGE] [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 8

Signed, sealed and delivered in the presence of: AVALON ASSOCIATES OF DELAWARE LIMITED PARTNERSHIP, a Florida limited partnership Print Name: Print Name: BKI ASSOCIATES, INC., a Florida Corporation, as General Partner to Avalon Associates of Delaware Limited Partnership By: Beat Kahli As: President of BKI Associates, Inc. STATE OF FLORIDA ) ) COUNTY OF ) SWORN TO AND SUBSCRIBED before me this day of June 2008, by Beat Kahli, as President of BKI Association, Inc., as General Partner to Avalon Associates of Delaware Limited Partnership., who is personally known to me or has produced as identification. Notary Public My Commission Expires: 9

JOINDER AND ACKNOWLEDGEMENT OF AVALON PARK PROPERTY OWNERS ASSOCIATION, INC. AVALON PARK PROPERTY OWNERS ASSOCIATION, INC., a Florida not-forprofit corporation ( Association ), does hereby join in, agree to and acknowledge the Third Amendment to the Master Declaration of Covenants, Conditions and Restrictions of Avalon Park Property Owners Association ( Amendment ), to which this Joinder and Acknowledgement is attached. The terms, conditions, covenants and restrictions set forth therein are and shall be binding upon the undersigned and its successors in title. The Association also acknowledges that this Joinder and Acknowledgement is for convenience only and is not necessary for the effectiveness of the Amendment, as the Association has no right to approve the Amendment. IN WITNESS WHEREOF, the undersigned has executed this Joinder and Acknowledgement on this day of June 2008. Signed, sealed and delivered in the presence of: AVALON PARK PROPERTY OWNERS ASSOCIATION, INC. Print Name: By: Beat Kahli As Its: President Print Name: STATE OF FLORIDA ) ) COUNTY OF ) SWORN TO AND SUBSCRIBED before me this day of June 2008, by Beat Kahli, as President Avalon Park Property Owners Association, Inc., who is personally known to me or has produced as identification. Notary Public My Commission Expires: 10