DECLARATION OF COVENANTS OF WATERFORD SUBDIVISION

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Section 1 - Purpose and Definitions

1.01 Purpose. Declarant owns fee simple title to the Property. Declarant desires to develop or contract for the development of single family residential homes on the Lots and Multi-Family Units on the Multi-Family Parcels. By this Declaration Declarant desires to: (i) promote the health and safety of Lot Owners and Unit Owners, (ii) provide for the preservation of the values and amenities to be constructed on the Property, and (iii) provide for the proper maintenance of the Property and the administration thereof by the Association and by the Multi-Family Associations.

1.02 Definitions. As used in this Declaration, the following words shall have the meanings stated below:

A. "Association" shall mean and refer to Ivanhoe-Waterford Homeowners Association, a Florida corporation not-for-profit, its successors or assigns.
B. "Declarant" shall mean and refer to Ivanhoe Land Investments, Inc., a Florida corporation, its successors or assigns.
C. "Declaration" shall mean and refer to the provisions of the Declaration and any amendments thereto properly adopted in accordance with the provisions hereof.
D. "Developer" shall mean the Declarant and any person, corporation or partnership to whom Declarant sells any part of the property for the purpose of having the Developer construct on Lots or the Multi-Family Parcels, residential homes or Units for sale to the consuming public.
E. "Drainage District" shall mean and refer to the South Broward Drainage District, a water control district, formed under Chapter 298 of the Florida Statutes, its successors or assigns.
F. "Drainage Easement" shall mean and refer to the drainage easements delineated and referred to as such on the Plat.
G. "Entranceway Feature Easement" shall mean and refer to each easement for the construction and maintenance of an entranceway feature established under Section 6.01 below.
H. "Institutional Lender" shall mean any savings and loan association, state bank, federal bank, insurance company, an agency of the Untied States government, a real estate investment trust, pension trust, an FHA approved mortgage lender or banker, the Federal National Mortgage Association, or its assigns, or Federal Home Loan Mortgage Company or its assigns.
I. "Lake Parcels" shall mean and refer to the parcels delineated and described as Lake Parcels "D" and "E" on the Plat.
J. "Lot" shall mean and refer to any Lot numbered "1" through "182" as delineated and numbered on the Plat. The word "Lots" shall mean all Lots 1 through 182 shown on the Plat.
K. "Lot Owner" shall mean and refer to the record title holder of any Lot.
L. "Multi-Family Association" shall mean a non-profit corporation formed by Declarant or a Developer and having jurisdiction over Units constructed on a Multi-Family Parcel.
M. "Multi-Family Building" shall mean a building containing one (1) or more Units constructed on a Multi-Family Parcel.
N. "Multi-Family Parcel" shall mean and refer to either Parcel "A," Parcel "B," or Parcel "C," as delineated and so described on the Plat. "Multi-Family Parcels" shall mean and refer to all of those Parcels.
O. "Park Parcel" shall mean and refer to Parcel "F" as delineated and so described on the Plat.
P. "Plat" shall mean and refer to the Plat of WATERFORD containing the Property as recorded in Plat Book 116, Page 43, of the Public Records of Broward County, Florida.
Q. "Property" shall mean and refer to all of the property delineated and described on the Plat, except dedicated roads thereon, the Lake Parcels, and the Park Parcel.
R. "Unit" shall mean and refer to a residenttial unit build on a Multi-Family Parcel.
S. "Unit Owner" shall mean and refer to the record title holder of any Unit.
T. "Utility Easement" shall mean and refer to the easement delineated on and described as such on the Plat.
U. "Wall Easement" shall mean and refer to the easement for the construction and maintenance of a privacy wall established under Section 6.03 below.

Purpose and Definitions
Jurisdiction
Architectural and Construction Restrictions
Use Restrictions
Exterior Maintenance
Common Easements
Lake Parcels and Park Parcel
The Association
Assessments
Enforcement
Duration and Amendments
Severability

NOTE: Upon "closing," each new owner should have received a document called "DECLARATION OF COVENANTS OF WATERFORD SUBDIVISION." This scanned and typed copy of selected sections of the Covenants is not meant to replace that document, or the BY-LAWS, which govern the Association election process. It is provided here simply as a convenient reference for "Frequently Asked Questions" regarding typical homeowner issues. This is not a legal document, and neither the Association nor the editor bear any liability for errors. If you do not find the information you seek, you are urged to contact one of your Association Board members, or consult your own hard copy.

www.ivanhoe-waterford.com © 1997 Pete LaMoia