SUB-DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF SUN VALLEY P.U.D I SUN VALLEY I-A SUN VALLEY II

ARTICLE I

DEFINITIONS

Section 1. The following words and terms when used in this Sub-Declaration, any Supplemental Sub-Declaration or any other Sub-Declaration hereunder recorded affecting any of the Properties (unless the context shall clearly indicate otherwise) shall have the following meanings:

1. "Articles" and "By-Laws" shall mean the Articles of Incorporation and the By-Laws of the Sub-Association as they may exist from time to time.
2. "Master Association" shall mean Sun Valley Community Master Association, Inc., a Florida not-for-profit corporation, its successors and assigns.
3. "Common area" and "Common areas" shall mean (1) those portions of the Properties not designated in the Development Plan to be used for the construction of Units, (2) Recreational Facilities and (3) those areas designated therein as "Open Space." Common areas do not include Common Property, but do include portions of Properties which (or the exclusive use of which) may be conveyed or dedicated to this Sub-Association by the Master Association (or others). Common areas may be owned by or dedicated. to the use of the Master Association. and such ownership or use may be granted, transferred or conveyed by the Master Association to this Sub-Association, and the term "common area" shall not, by itself, denote ownership by the Master Association. A Common Area dedicated, conveyed, acquired or otherwise owned by this Sub-Association shall be deemed "common" only to this Sub-Association, and its members, to the exclusion of the other members of the Master Association, any other Sub-Association or its members.
4. "Common Property" shall mean those tracts of land, together with any improvements thereon, and any personal property situate thereon, which are actually deeded to, dedicated to or otherwise acquired by the Master Association for the common use of, by or in behalf of all its members. Common Property shall include (1) the surface water management system as permitted and/or required by the South Florida Water Management District, and (2) any other lands and facilities for the maintenance of which the Master Association is designated by any Governmental Agency, or by the Development Plan, to be responsible. All or any part of the Common Property may become Common Area (transferable to one or more Sub-Associations), but only with the consent of the District or Agency having jurisdiction thereof, and the authorized amendment of the Plan. (The exclusive recreational use of Common Property or so much thereof as lies within the limits of the first above described lands may be granted to this Sub-Association, in which event this Sub-Association shall assume and agree to (1) pay the expenses of its maintenance and (2) save the Master Association harmless from any and all liability on its obligations to said Governmental Agencies. This recitation shall not operate to relieve the Master Association of its primary obligation to those Agencies, but merely gives it recourse to this Sub-Association.)
5. "Company" shall mean Sun Valley Equities Corp. and the successors and assigns to the rights of Sun Valley Equities Corp. under the Master Declaration.
6. "Declaration" shall mean this Sub-Declaration of Covenants, Conditions, and Restrictions and any recorded amendments, or the Master Declaration (defined below).
7. "Developer" shall mean Stelar Corp. or any person or business entity who acquires any of the Properties for the purpose of improving the same and selling them as improved.
8. "Development Plan" shall mean the Sun Valley Planned Unit Development ("P.U.D.") approved by appropriate governmental agencies for the development of Sun Valley and the latest approved revision thereof. The "Development Plan" shall include the action taken by the Board of County Commissioners of Palm Beach County on Petition 85-162 and all requirements and conditions thereunder.
9. "Family Dwelling Unit" shall mean any improved property intended for use as a single family, detached dwelling located within the Properties. For the purposes of this Sub-Declaration, any such single family dwelling shall not be deemed to be improved until a temporary or permanent certificate of occupancy' has been issued by the appropriate governmental authorities or it is determined by the Sub-Association, in its reasonable discretion, to be substantially complete.
10. "General Expenses" shall mean the expenditures for cleanup, maintenance, operation, and other services required or authorized to be performed by the Sub-Association, but shall not include expenses which may be incurred in connection with any of the Recreational Facilities.
11. "Governmental Agency" means any Federal, State, County or Municipal governmental body, subdivision or agency thereof.
12. "Institutional Lender" shall mean the holder of a mortgage encumbering a Residential Lot or Family Dwelling Unit. The owner and holder of said mortgage shall be a bank, builder, developer, life insurance company, federal or state savings and loan association, real estate or mortgage investment trust, mortgage broker, mortgage banker, private mortgage insurance company, the United States Veterans' Administration, United. States Federal Housing Administration, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, or a lender generally recognized in the community' as an institutional lender. Any assignee of a mortgage originated. by an Institutional Lender shall be deemed an Institutional Lender.
13. "Master Declaration" shall mean the Declaration of Covenants, Conditions and Restrictions of Sun Valley P.U.D., recorded in OR Book 5096 at page 1560 of the Public Records of Palm Beach County, Florida; as amended in OR Book 5114 at page 1800; and any further lawful amendment thereof which does not impair vested rights.
14. "Member" shall mean and refer to all those Owners who are Members of the Sub-Association as provided in Article III hereof.
15. "Owner" shall mean the Owner as shown by the real estate records in the Office of the Clerk of the Circuit Court of Palm Beach County, Florida. Unless the context requires otherwise, the Sub-Association shall be deemed the "Owner" of any real property owned or administered by said Sub-Association.
16. "Properties" shall mean and include the real property in the three Plats first above described subject to the Development Plan, as same may be amended from time to time. In the event the Development Plan is amended by the Developer to include additional real property, this Sub-Declaration shall be amended to include said additional property. Only in the event the Development Plan is amended by the Developer to delete certain real property from the Properties, may this Sub-Declaration be amended to delete said property from the provisions hereof. No amendment of either of the Development Plan or this Sub-Declaration may be undertaken to delete any property (a) if said property is not owned by the Developer at the time of said amendment, unless both the Owner of said property and the Institutional Mortgagee holding a first mortgage thereon consent thereto, or (b) if the effect of such deletion would be to deprive any Owner or the Sub- Association of access to or from property owned by said Owner or the Sub-Association.
17. "Public Records" shall mean the Public Records of Palm Beach County, Florida.
18. "Reasonable Attorneys' Fees" means and includes reasonable fees for the services of attorneys-at-law, whether or not those services were rendered in connection with judicial (at both trial and appellate levels) or administrative proceedings (both before governmental, administrative agencies and administrative bodies of Sun Valley P.U.D., including but not limited to the Board of Directors of the Master Association and Sub-Association).
19. "Recreational Expenses" shall mean any and all expenditures incurred or to be incurred by the Sub-Association in connection with any of the Recreational Facilities, and shall include but not be limited to maintenance, repairs, and amortization, rent, salaries, acquisition costs, and programming expenses involving any Recreational Facility.
20. "Recreational Facilities" shall mean those tracts of land intended or operated for recreational uses, together with any improvements made thereon for that purpose, and personal property acquired by the Sub-Association for such use in their operation of such facility. If the Development Plan reserves an area of the Properties as a club site or site for Recreational Facilities, the Developer may, but is not thereby obliged, to improve, convey or dedicate said area to the Master Association, the Sub-Association or any other entity (for profit or not for profit) to be operated as a Recreational Facility or private club. The Sub-Association may, for the exclusive use of subscribing members, operate certain recreational facilities (such as a swimming pool and appurtenant uses).
21. "Residential" shall mean the intended use of a portion of the Properties as a Family Dwelling Unit.
22. "Residential Lot" or "Lot" shall mean any unimproved parcel of land located within the Properties which is intended for use as a site for a Single-Family Unit.
23. "Single-Family Unit" shall mean any detached Family Dwelling Unit which is not a Multi-Family Unit or contained within a single structure containing another Single Family Unit.
24. "Sub-Association" shall mean the Sun Valley Homeowners Association, Inc.
25. "Sub-Declaration" shall mean this declaration of covenants, conditions, and restrictions.
26. "Sun Valley," "Sun Valley P.U.D.," Sun Valley I-A", and "SunValley II" means "Properties" as hereinabove defined.
27. "Supplemental Sub-Declaration" shall mean any declaration of covenants, conditions, and restrictions, declaration of condominium, declaration of cooperative plan, or any similar instrument other than this Sub-Declaration which either (1) has the effect of adding property to or deleting property from the Properties pursuant to the provisions of Article II hereof, or (2) affects all of the Properties.
28. "Unit" is a generic reference to any Detached Family Dwelling Unit or Single-Family Unit.