ALTON Combined Disclosure & HOA Documents

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Developer’s lot reference %UnitAccountCode% %Community%
Date Modified: 11/24/15 Page 1 of 10
Date Printed: %TodaysDate% %AllBuyersFullName%
MASTER DISCLOSURE ADDENDUM
FOR
ALTON NEIGHBORHOOD 1
THIS MASTER 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 %ContractCreatedDateLong%, between %AllBuyersFullName% (“Purchaser”)
and KH ALTON LLC, a Florida limited liability company (“Seller ”) for lot _____ (the “Lot”) as shown on the plat of Alton Neighborhood 1, recorded
at Plat Book 119, Page 51 of the Official Records of Palm Beach County, Florida, and the residence and improvements to be constructed on the Lot (the
“Residence”), located in the community known as Alton (the “Community”). The Lot and Residence are sometimes hereinafter referred to
collectively as 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 and riders attached to the
Agreement, which are hereby incorporated by this reference.
2. Community . The Property lies within a subdivision of the Community which is known as Alton Neighborhood 1 (the “Neighborhood”).
This Addendum explains certain terms which are applicable to the purchase of homes within the Community and the Neighborhood. Current plans are
for Seller’s affiliate to build homes in the Community. Seller shall have the right, without notice to Purchaser, to make changes to, among other things,
homesite sizes, number of lots and/or homes in the Community, size and style of homes, features and materials in homes, prices of homes (whether
more or less than currently published), price per square foot of homes (whether more or less than currently published), street layout, amenity
components or layout, location, size and number of trees, bushes and other foliage (current and future), and any other items or uses which are currently
planned for the Community or the Neighborhood. Seller makes no representation or warranty that the currently planned builder will be the exclusive
builder in the Community or Neighborhood, that Seller will be the exclusive developer in the Community or the Neighborhood or that the Community
or the Neighborhood will be built out as currently planned. Seller reserves the right to make whatever changes it deems necessary relating to future
development or build out of the Community and the Neighborhood. Any current maps or other materials showing any final or projected Community
development may be modified or updated in the future.
3. Document Book . Purchaser acknowledges receipt of the “Document Book” for the Community and the Neighborhood which includes, but
is not limited to the following:
3.1 Purchaser acknowledges receipt of, and agrees to be bound by, the Amended and Restated Master Declaration of Covenants, Easements and
Restrictions for Alton (the “Master Declaration”), the Articles of Incorporation, By-Laws and any Rules and Regulations of the Master Association
(defined below) all as amended and supplemented from time to time (collectively, the “Community Documents”). Purchaser acknowledges and
agrees that title to the Property will be subject to the Community Documents.
3.2 Purchaser acknowledges receipt of, and agrees to be bound by, the Declaration of Covenants, Easements and Restrictions for Alton
Neighborhood 1 (the “Neighborhood Declaration”), the Articles of Incorporation, By-Laws and any Rules and Regulations of the Neighborhood
Association (defined below), all as amended and supplemented from time to time (collectively, the “Neighborhood Documents”). Purchaser
acknowledges and agrees that title to the Property will be subject to the Neighborhood Documents.
3.3 Purchaser acknowledges receipt of, and agrees to be bound by, the Declaration for Alton Community Recreation and Fitness Facility, and all
exhibits thereto, all as amended and supplemented from time to time (the “Recreation Declaration”). Purchaser acknowledges and agrees that title to
the Property will be subject to the Recreation Declaration.
3.4 Purchaser acknowledges and agrees the provisions of the Document Book are fair and reasonable.
4. Association Membership.
4.1 Upon conveyance and recording of the Deed to the Property, Purchaser understands and agrees that Purchaser will then become a member of
the Alton Neighborhood 1 Association, Inc., a Florida not-for-profit corporation (the “Neighborhood Association”), which Neighborhood Association
is a member of the Alton Property Owners Association, Inc., a Florida not-for-profit corporation (the “Master Association”). Purchaser agrees to
accept the liability and obligations of such membership. Purchaser understands that as a member of the Neighborhood Association, Purchaser will be
required to pay Assessments (defined in the Neighborhood Declaration) for the maintenance of the Common Areas and Limited Common Areas, if any,
(defined in the Neighborhood Declaration) and for such other uses and purposes as are provided for in the Document Book. It is intended that the
Neighborhood Association will be the collection agent for assessments payable to the Master Association pursuant to the Master Declaration.
Accordingly, assessments payable to the Master Association will be included in the annual budget of the Neighborhood Association so long as the
Neighborhood Association is the collection agent for such assessments to the Master Association. Purchaser also understands and agrees that a failure
to pay Assessments when due could cause Master Association and/or Neighborhood Association to record a lien on the Property and Master
Association and/or Neighborhood Association may foreclose such lien. Assessments are subject to additional increases in the manner currently
provided for in the Community Documents and Neighborhood Documents. Seller, Master Association, Neighborhood Association and any other
developer or builder cannot estimate the amount or frequency of any such increase.
4.2 Purchaser acknowledges that nominees of Seller may serve as the initial officers and directors of Master Association and Neighborhood
Association. The officers and directors and the management company, which may be an affiliate of Seller and/or Builder, are authorized by Purchaser
to act for and on the behalf of Master Association and Neighborhood Association. Seller may, but is not required to, advance monies to Master
Association and/or Neighborhood Association for operations. In the event such advances are made, they may be considered a loan from Seller, and
Master Association and/or Neighborhood Association may be obligated to repay such advances as set forth in the Community Documents and the
Neighborhood Documents.
4.3 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 Architectural Review Committee of Master Association (the “Master ARC”) and the
Architectural Review Committee of the Neighborhood Association (the “Neighborhood ARC”). Purchaser agrees to comply with all rules and
regulations of the Master ARC and the Neighborhood ARC as the same may be amended and exist from time to time. These restrictions are subject to
change without notice. Building and use restrictions include, but are not limited to, residential and nonresidential uses, building specifications
(including colors and materials), accessory structures, nuisance, home occupancy, signage, antennas, animals, driveways, vehicle parking, rubbish,
utility and drainage easements, clothes lines, irrigation, fences, special rights of Seller and Builder(s), leases and restoration of homesites. Purchaser
agrees not to commence any construction upon any portion of the Lot until after the Master ARC and the Neighborhood ARC, if applicable, have given
their written approval therefor. Purchaser further agrees not to make any modifications of any existing buildings and improvements, including, but not
limited to, roof tile, exterior color of a Residence, landscaping and landscape irrigation, without the prior written approval of the Master ARC and the
Neighborhood ARC, if applicable, and until any applicable permits have been obtained. In addition, every city, county or town has building codes and
other ordinances that regulate what is permissible within its jurisdictional limits. Prior to making changes to the Residence or Lot, Purchaser should
contact the applicable governmental authorities for further information concerning local codes and ordinances. Seller is not responsible for notifying
homeowners of the content or restrictions contained in any local codes or ordinances.
4.4 In the event of a casualty such as a tropical storm or hurricane, the Common Areas and landscaping of Master Association and Neighborhood
Association may need to be restored or replaced. Some portions of the Common Areas, such as landscaping, are not insured. Further, there may be a
sizeable deductible under Master Association and Neighborhood Association insurance policies. Accordingly, such associations may impose special
assessments against the Property in the event of a casualty.
5. Recreation and Fitness Facility.