G R AY I RO	B I N S O N
ATTORNEYS  AT LAW

813-273-5014
JOSEPH.COVELLI @ GRAY-ROBINSON.COM

VIA FEDERAL EXPRESS AND E-MAIL

June 20, 2017

401 EAST JACKSON STREET
SUITE 27 00
POST OFFICE Box 3324 (33601-3324)
TAMPA,  FLORIDA 33602
TEL    813-273-5  000
FAX 813- 273 -5145

BOCA RATON
FORT LAUDERDALE FORT MYERS
GA I NES VILLE
J ACKSONV I LL E KEY WEST LAK ELA N D
M ELBO UR NE M IA M I NAPLES
O RLANDO TALLAHASSEE TAMPA

Moyer Management Group, Inc. Attn: Gary Moyer
313  Campus Street
Celebration, FL 34747
Email: gaiy@moyer-group.com

Hopping Green & Sams, P.A. Attn: Michael Ecke1t
119 South Monroe-Street, Suite 300
Tallahassee, FL 32301
Email: MichaelE@hgslaw.com

Re: Seller's Second Notice of Extension  of Validation Date pursuant to that ce1tain  Asset  Sale and Purchase Agreement (the "Agreement") dated as of December 5, 2016, by and between Avatar Prope1ties Inc., a Florida corporation, ("Seller") and Poinciana Community Development District, a special purpose unit of local government established under Chapter 190, Florida Statutes ("Buyer"), as amended from time to time; Client-Matter No. 376463-1

Gentlemen:

We are counsel to Seller in connection with the above referenced Agreement and are authorized to provide this letter on its behalf. Pursuant to Section 4.2(v) of the Agreement, the Validation Date upon which Buyer is to obtain the Bond Validation is scheduled to occur on July 3, 2017. As a result of the delay of the validation hearing, which is now scheduled to commence on July 18, 2017, Buyer will be unable to obtain the Bond Validation on or before the originally scheduled Validation Date. Accordingly, Seller hereby provid es notice to Buyer that Seller hereby elects to exercise Seller's right to extend the Validation Date for an additional period of thitty (30) days, such that the extended Validation Date shall now be August 2, 2017.

Should you have any questions with respect to the above, please call.

Sincerely,

Joseph P. Covelli

cc:		Jason E. Merritt Lindsay Whelan Tony Iorio Gary Shullaw

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