Schedule

Schedule

Exhibit IV : Schedule of Permitted Exceptions

1. The lien of all taxes for the year 2004 and thereafter, which are not yet due and payable.

2. Any lien provided by County Ordinance or by Chapter 159, Florida Statues, in favor of any city, town, village or port authority, for unpaid services by any water systems, sewer systems or gas systems serving the land described herein; and any lien for waste fees in favor of any county or municipality.

3. Restrictions, conditions, reservations, easements, and other matters contained on the Plat of Marathon Beach, as recorded in Plat of Marathon Beach, as recorded in Plat Book 2, Page(s) 16, Public Records of Monroe County, Florida.

4. State law under Chapter 76-190 and chapter 22f-8.02 of the Florida Administrative Code for Land Planning for the Florida Keys area of Critical State Concern, recorded in O. R. Book 668, Page 43.

5. Development Agreement as recorded in O. R. Book 1843, Page 20, of the Public Records of Monroe County, Florida. See copy attached.

6. Declaration of Covenants and Restrictions Regarding Density and Use of the Overseas Village, city of Marathon, Florida, as recorded in O. R. Book 1934, Page 1160, of the Public Records of Monroe County, Florida. See Exhibit 2.

7. Declaration of Protective Covenants, Restrictions and Easements of Overseas Village, a Residential Community, as recorded in O. R. Book 1992, Page 241, of the Public Records of Monroe County, Florida. (Note: to be recorded; See Exhibit 3)

8. Fee Simple title vested in the Middle Keys Community Land Trust.