OWNERSHIP IN PALMA SOLA TRACE
Section 1. Master Declaration. By taking title to a Lot, each Owner also becomes subject to the terms and conditions of the Master Declaration for the Master Association. Among other things, that document provides that an Owner shall become a member of the Master Association; shall acquire certain property rights to common areas within Palma Sola Trace; and shall become subject to the assessments of the Master Association.
Section 2. Membership in Master Association. In accordance with the provisions of the Articles of Incorporation of the Master Association, all Owners shall be members in the Master Association.
Section 3. Notice to the Master Association. Copies of all amendments to this Declaration, the Articles of Incorporation and Bylaws of the Association, shall be promptly forwarded to the Master Association.
Section 4. Priority of the Master Association. The rules and regulations and assessment and lien rights of the Master Association shall control and take precedence over this Declaration and the assessment and lien rights of the Association. In the event of any inconsistency or conflict between the terms and provisions of the Master Declaration and related documents of the Master Association (collectively, the "Master Association Documents"), and the Declaration, the Articles of Incorporation and the Bylaws ofthe Association (collectively, the "Neighborhood Documents"), the Master Association shall control. This Declaration is and shall remain subject and subordinate to the Master Declaration.
In order to ensure compliance with the community-wide maintenance standards promulgated by the Master Association from time to time, the Master Association shall have the following rights and powers with respect to the Association. The Master Association shall have the right and power, but not the obligation, to enforce all rules and regulations promulgated by the Association, together with the terms and provisions of the Neighborhood Documents.
Section 5. Dispute Resolution. The Master Association may, but shall not be obligated to, exercise jurisdiction over and act as arbiter with respect to any dispute between the Association and any other Neighborhood within Palma Sola Trace, as defined in the Master Declaration.
PALMA SOLA TRACE COMMUNITY DEVELOPMENT DISTRICT
Rizzetta & Company, Inc.
9428 Camden Field Parkway
Riverview, FL 33578
Section 6. Required Disclosure. Each contract for the initial sale of a Lot and/or home within the Property shall include, immediately prior to the space reserved in the contract for the signature of the purchaser, the following disclosure statement in boldfaced and conspicuous type which is larger than the type in the remaining text of the contract:
THE CDD MAY IMPOSE AND LEVY TAXES, OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY FOR THE CONSTRUCTION, OPERATION AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASESSMENTS ARE IN ADDITION TO THE COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND ASSESSMENTS PROVIDED FOR BYLAW.
ARTICLE 2. INTENT OF DECLARATION
Declarant desires to provide for the preservation and enhancement of the value, desirability and attractiveness of the Property and, therefore, Declarant intends, by this Declaration, to impose upon the Property mutually beneficial covenants, conditions, restrictions and easements under a general plan of improvement for the benefit of all Owners within the Property. Declarant desires to provide flexible and reasonable procedures for the overall development of the Property, and to establish a method for the administration, maintenance, preservation, use and enjoyment of the Property, and maintenance of property dedicated to, owned by, or which is the maintenance responsibility of, the Association.