The Heritage Isle Associations

The Heritage Isle Associations As a resident of the Heritage Isle, you will be a member of:

Heritage Isle District

The Heritage Isle District Association (the "District") is the association charged with the care and maintenance of facilities and land common to all residents in Heritage Isle. The maintenance responsibilities of the Heritage Isle District include, but are not limited to the following areas: the community gates, entrances and gate house, the entire road system within Heritage Isle, the Heritage Trail and Park system, all street lighting and signage, the Heritage Isle bridge, all irrigation systems, the landscaping along Legacy Boulevard, the center median and village entries, the Legacy Boulevard round-a-bout and fountain and the stormwater system and lakes.

Heritage Isle Club

The Heritage Isle Club Covenants should be read carefully and completely as they contain the details about the operation and ownership of the Club. Club membership is mandatory for every home in Heritage Isle. Each owner is required to pay Club Fees and Club Operating Expenses (collectively called Club Charges) that will be billed and collected on a quarterly basis by the Club owner. When you purchase a home in Heritage Isle you are agreeing to this mandatory membership and the payment of the Club charges. The developer, Lennar Homes, has the right to use the Club facilities for any purpose until the community is complete. The Heritage Isle District Association has the option to purchase the Heritage Isle Club from the Club owner two years after the last home is closed in Heritage Isle. The price is defined in the Club Covenants as being based on a 9 % capitalization rate applied to the Club Fee level at the time of the option to purchase. See the Heritage Isle Club Covenant definitions and Section 5.2 for further details on the Club purchase option and price.

The Heritage Isle Residential Village Association (HIRVA)

This association does not apply to the Terraces residents. The HIRVA is responsible for specific maintenance items on the single-family, villa and duplex homes. HIRVA's main task is to maintain the lawns, plants, and trees and to implement the exterior repainting program for all homes in Heritage Isle. In addition, the association will coordinate the repairs and replacement of roofs for the villa and duplex homes (attached homes only) and Architectural Review for all the homes. All other home maintenance is the responsibility of the individual homeowner.

The Terraces at Heritage Isle Condominium Associations - applicable to the Terraces residents

The Terraces at Heritage Isle Condominium Associations are comprised of the Terraces at Heritage Isle Common Association, Inc. as well as one Association per building you are residing in. There are seven individual condominium buildings currently planned for the Terraces at Heritage Isle, each one of them being a separate Condominium Association, Inc. For example, if you reside in the Terrace I, you would be a member of Terrace I Condominium Association in addition to being a member of the Terraces at Heritage Isle Common Association, Inc. There is the potential for additional condominium buildings in future phases of the community but no guarantee that they will be developed is being made at this time.

Central Viera Community Association

The area west of Interstate 95 currently under development is known as "Central Viera" and is subject to the Central Viera Community Association (CVCA) Declaration of Covenants and Restrictions. The CVCA is responsible for the overall development of the Viera property on the west side of I-95 including certain master stormwater facilities, common tract maintenance, signage, etc. This annual assessment will be billed directly to each owner by the CVCA each December.

The Heritage Isle at Viera Community Development District (CDD)

The Heritage Isle at Viera Community Development District (CDD) was created to fund basic development services for Heritage Isle such as water, sewer, the stormwater system including roads, the Heritage Park and Trail system, etc. Every home in Heritage Isle is subject to the Heritage Isle at Viera CDD and will pay annual assessments to the CDD as noted below. The CDD assessments are billed and collected annually by the Brevard County Tax collector along with your property taxes and other county assessments. Residents have the option to pay annual CDD assessments or make a one-time payment to pay off their portion of the CDD bonds. If the one time pay-off is selected, there will still be a small CDD management fee that will be billed along with annual property taxes.

For a complete description of the associations and what they encompass, as well as the current budget and fee schedule see your new home consultant at the Heritage Isle. The assessments vary by product line and will be billed and collected on quarterly basis.