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ORD 2007-35TOWN OF TROPHY CLUB ORDINANCE NO. 2007-35 AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB AMENDING AND APPROVING A SERVICE AND ASSESSMENT PLAN AND ASSESSMENT ROLL FOR THE TOWN OF TROPHY CLUB PUBLIC IMPROVEMENT DISTRICT NO.1 ADOPTED PURSUANT TO ORDINANCE NO. 2007-29. WHEREAS, on March 16, 2007, a petition was submitted and filed with the Town Secretary (the 'Town Secretary") of the Town of Trophy Club, Texas (the 'Town") pursuant to the Public Improvement District Assessment Act, Chapter 372, Texas Local Government Code (the "PID Act"), requesting the creation of a public improvement district over a portion of the area of the Town to be known as the Town of Trophy Club Public Improvement District No. 1 (the "District"); and WHEREAS, the petition contained the signatures of the owners of taxable property representing more than fifty percent of the appraised value of taxable real property liable for assessment within the District, as determined by the then current ad valorem tax rolls of the Denton Central Appraisal District and the signatures of property owners who own taxable real property that constitutes more than fifty percent of the area of all taxable property that is liable for assessment by the District; and WHEREAS, on May 7, 2007, after due notice, the Town Council of the Town (the "Town Council") held the public hearing in the manner required by law on the advisability of the public improvements and services described in the petition as required by Sec. 372.009 of the PID Act and made the findings required by Sec. 372.009(b) of the PID Act and, by Resolution No. 2008-08, adopted by a majority of the members of the Town Council, authorized the District in accordance with its finding as to the advisability of the public improvement and services; and WHEREAS, on May 18, 2007, the Town published notice of its authorization of the District in the Trophy Club Times, a newspaper of general circulation in the Town; and WHEREAS, no written protests of the District from any owners of record of property within the District were filed with the Town Secretary within 20 days after May 18, 2007; and WHEREAS, on October 15, 2007, the Council adopted a resolution accepting the proposed Service and Assessment Plan and the proposed Assessment Roll and authorized the publication of notice of a public hearing to consider the approval of the proposed Service and Assessment Plan and proposed Assessment Roll, in a newspaper of general circulation in the Town and such proposed Assessment Roll was placed on file with the Town Secretary for public inspection; and WHEREAS, the Town Council, pursuant to Section 372.016(b) of the PID Act, published notice on October 19, 2007 in the Trophy Club Times of a public hearing to consider the proposed "Assessment Roll" and the "Service and Assessment Plan" and the levy of the "Assessments" on property in the District; and WHEREAS, the Town Council, pursuant to Section 372.016(c) of the PID Act, caused the mailing of the notice of the public hearing to consider the proposed Assessment Roll and the Service and Assessment Plan and the levy of Assessments on property in the District to the last known address of the owners of the property liable for the Assessments; and WHEREAS, the Town Council convened the hearing at 7:00 p.m. on the 5th day of November, 2007, at which all persons who appeared, or requested to appear, in person or by their attorney, were given the opportunity to contend for or contest the Service and Assessment Plan, the Assessment Roll, and each proposed Assessment, and to offer testimony pertinent to any issue presented on the amount of the Assessment, the allocation of Costs, the purposes of the Assessment, the special benefits of the Assessment, and the penalties and interest on annual installments and on delinquent annual installments of the Assessment; and WHEREAS, the Town Council found that there were no written objections or evidence submitted to the Town Secretary in opposition to the Service and Assessment Plan, the allocation of Costs, the Assessment Roll, and the levy of Assessments; and WHEREAS, at the conclusion of the public hearing, pursuant to the adoption of Ordinance No.2007-29, the Town Council levied Assessments (as defined in the Service and Assessment Plan) on the property within the District liable for assessment and approved the Service and Assessment Plan and the Assessment Roll; and WHEREAS, the Town Council now desires to amend Ordinance No. 2007-29 by the amendment of the Service and Assessment Plan and the Assessment Roll pursuant to the PID Act; and WHEREAS, the Town Council, pursuant to Section 372.016(c) of the PID Act, published notice on December 2, 2007, in the Trophy Club Times of a public hearing to consider the amendment of the Service and Assessment Plan and Assessment Roll; and WHEREAS, the Town Council, pursuant to Section 372.016(c) of the PID Act, caused the mailing of the notice of the public hearing to consider the proposed Assessment Roll and the Service and Assessment Plan and the levy of Assessments on property in the District to the last known address of the owners of the property liable for the Assessments; and WHEREAS, the Town Council convened the hearing at 7:00 p.m. on the 13th day of December, 2007, at which all persons who appeared, or requested to appear, in person or by their attorney, were given the opportunity to contend for or contest the amendments to the Service and Assessment Plan and the Assessment Roll and to offer testimony pertinent to any issue presented on the amendment of the Service and Assessment Plan and the Assessment Roll; and WHEREAS, the Town Council finds and determines that the amended Service and Assessment Plan and the amended Assessment Roll should be approved; and WHEREAS, the Town Council found that there were no written objections or evidence submitted to the Town Secretary in opposition to the amendment of the Service and Assessment Plan or the Assessment Roll; and WHEREAS, prior to the issuance of bonds secured by the Assessments, the owners (the "Landowners" or the "Assessed Parties") of 100% of the privately -owned and taxable property located within the District, and who are the persons to be assessed pursuant to this Ordinance, will have consented to the amendment of the Service and Assessment Plan and the Assessment Roll; and WHEREAS, the Town Council closed the hearing, and, after considering all written and documentary evidence presented at the hearing, including all written comments and statements filed with the Town, determined to proceed with the adoption of this Ordinance in conformity with the requirements of the PID Act. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF TROPHY CLUB, TEXAS: Section 1. Terms. Terms not otherwise defined herein are defined in the Service and Assessment Plan attached hereto as Exhibit A (the "Service and Assessment Plan"). Section 2. Findings. The findings and determinations set forth in the preambles are hereby incorporated by reference for all purposes. The Town Council hereby finds, determines, and ordains as follows: (a) the amendment of the Service and Assessment Plan and Assessment Roll is authorized by the PID Act the notice of such amendments to the Service and Assessment Plan and Assessment Roll has been properly given to the public and to the owners of property within the District; (b) the amended Service and Assessment Plan and Assessment Roll are attached hereto as Exhibit A. (c) the findings and determinations set forth in the Town's Ordinance No. 2007-29 are and remain, valid and binding. (d) the amended Service and Assessment Plan should be approved as the service plan and assessment plan for the District as described in Sections 372.013 and 372.014 of the PID Act; (e) the amended Assessment Roll in the form attached as Exhibit D to the Service and Assessment Plan (the "Assessment Roll") should be approved as the assessment roll for the District; (f) a written notice of the date, hour, place and subject of this meeting of the Town Council was posted at a place convenient to the public for the time required by law preceding this meeting, as required by the Open Meetings Act, Chapter 551, Texas Government Code, as amended, and that this meeting has been open to the public as required by law at all times during which this Ordinance and the subject matter hereof has been discussed, considered, and formally acted upon. Section 3. Assessment Plan. The Service and Assessment Plan is hereby amended and approved pursuant to the PID Act Sections 372.013 and 372.014 as the service plan and the assessment plan for the District. Section 4. Assessment Roll. The Assessment Roll is hereby amended and approved pursuant to the PID Act Section 372.016 as the assessment roll of the District. Section 5. Severability. If any provision, section, subsection, sentence, clause, or phrase of this Ordinance, or the application of same to any person or set of circumstances is for any reason held to be unconstitutional, void, or invalid, the validity of the remaining portions of this Ordinance or the application to other persons or sets of circumstances shall not be affected thereby, it being the intent of the Town Council that no portion hereof, or provision or regulation contained herein shall become inoperative or fail by reason of any unconstitutionality, voidness, or invalidity of any other portion hereof, and all provisions of this Ordinance are declared to be severable for that purpose. Section 6. Effective Date. This Ordinance shall take effect, and the levy of the Assessments, and the provisions and terms of the Service and Assessment Plan shall be and become effective on upon passage and execution hereof. However, the Service and Assessment Plan and this Ordinance shall automatically terminate if bonds secured by the Assessments are not issued by the Town on or before September 30, 2008. ADOPTED, PASSED, and APPROVED by the Town Council, by a vote of members voting "for' and � members voting "against' and with I absentees, on this 13th day of December, 2007. Town of Trophy Club Mayor, Nick Sanders Atte 't: Town Secretary Approved as to Form: Town Attorney THE TOWN OF TROPHY CLUB PUBLIC IMPROVEMENT DISTRICT NO. I THE HIGHLANDS AT TROPHY CLUB) SERVICE AND ASSESSMENT PLAN DECEMBER 13, 2007 014941,00018:1050792.05 THE TOWN OF TROPHY CLUB PIIBLIC IMPROVEMENT DISTRICT NO.1 (THE HIGHLANDS AT TROPHY CLUB) SERVICE AND ASSESSMENT PLAN Table of Contents Section I Plan Description and Defined Terms 1 Section II Property Included in the PID S Section III Description of Authorized Improvements 6 Section IV Service Plan 9 Section V Assessment Plan 11 Section VI Terms of the Assessment 16 Section VII Assessment Roll 20 Section VIII Miscellaneous Provisions 21 List of Exhibits Exhibit A The PID Map Exhibit B-1 Estimated PID Costs Exhibit B-2 Allocation of Costs to the PID Exhibit C Diagrams of the Authorized Improvements Exhibit D Assessment Roll 0 14941,00018:1050792.05 Section I PLAN DESCRIPTION AND DEFINED TERMS A. Introduction On April 16, 2007, the Town of Trophy Club Town Council passed and approved a resolution approving and authorizing the creation of The Town of Trophy Club Public Improvement District No. 1 (The Highlands at Trophy Club) (the "PID") to finance the PID Costs for the benefit of certain property in the PID, all of which is located within the Town. Upon application of the current property owners, the property within the PID was zoned by Ordinance No. 2006-11 P&Z (the "Planned Development Ordinance") adopted by the Town of Trophy Club on May 8, 2006. The Planned Development Ordinance created Planned Development No. 27 thereby amending Comprehensive Zoning Ordinance No. 2000-06 P & Z. The Planned Development Ordinance designates the property within the PID for residential use and includes development standards based on lot size. Chapter 372 of the Texas Local Government Code, "Improvement Districts in Municipalities and Counties" (as amended, the "PID Act"), governs the creation of public improvement districts within the State of Texas. This Service and Assessment Plan has been prepared pursuant to Sections 372.013, 372.014, 372.015 and 372.016 of the PID Act. According to Section 372.013 of the PID Act, a service plan "must cover a period of at least five years and must also define the annual indebtedness and the projected costs for improvements. The plan shall be reviewed and updated annually for the purpose of determining the annual budget for improvements." The service plan is described in Section IV of this Service and Assessment Plan. Section 372.014 of the PID Act states that "an assessment plan must be included in the annual service plan." The assessment plan is described in Section V. Section 372.015 of the PID Act states that "the governing body of the municipality or county shall apportion the cost of an improvement to be assessed against property in an improvement district." The method of assessing the PID Costs to the property in the PID is included in Section VI of this Service and Assessment Plan. Section 372.016 of the PID Act states that "after the total cost of an improvement is determined, the governing body of the municipality or county shall prepare a proposed assessment roll. The roll must state the assessment against each parcel of land in the district, as determined by the method of assessment chosen by the municipality or county under this subchapter." The Assessment Roll for the PID is included as Exhibit D of this Service and Assessment Plan. The Assessments as shown on the Assessment Roll are based on the method of assessment described in Section V of this Service and Assessment Plan. B. Definitions Capitalized terms used herein shall have the meanings ascribed to them as follows: "Administrator" means the employee or designee of the Town who shall have the responsibilities provided for herein, in the Bond Indenture, or in another agreement approved by the Town Council. "Annual Collection Costs" mean the following actual or budgeted costs, as applicable, related to the annual collection costs of outstanding Assessments paid in installments, including the 1 014941.00018:1050792.05 costs or anticipated costs of. (i) issuing, refunding or refinancing bonds, (ii) computing, levying, collecting and transmitting the Assessments (whether by the Town, the Administrator or otherwise), (iii) remitting the Assessments to the Trustee, (iv) the Town, the Administrator and Trustee (including legal counsel) in the discharge of their duties, (v) complying with arbitrage rebate requirements, (vi) complying with securities disclosure requirements, and (vii) the Town in any way related to the collection of the Assessments in installments, including, without limitation, the administration of the PID, maintaining the record of installments, payments and reallocations and/or cancellations of Assessments, and the repayment of the Bonds, including, without limitation, any associated legal expenses, the reasonable costs of other consultants and advisors and contingencies and reserves for such costs as deemed appropriate by the Town Council. Annual Collection Costs collected and not expended for actual Annual Collection Costs shall be carried forward and applied to reduce Annual Collection Costs in subsequent years to avoid the over -collection of Annual Collection Costs. "Annual Installment" means, with respect to each Parcel, each annual payment of the Assessment, as shown on the Assessment Roll attached hereto as Exhibit or an Annual Service Plan Update, and calculated as provided in Section VI of this Service and Assessment Plan. "Annual Service Plan Update" has the meaning set forth in the first paragraph of Section IV of this Service and Assessment Plan. "Assessed Property" means, for any year, Parcels within the PID other than Non -Benefited Property. "Assessment" means the assessment levied against a Parcel imposed pursuant to the Assessment Ordinance and the provisions herein, as shown on the Assessment Roll, subject to reallocation upon the subdivision of such Parcel created by such subdivision or reduction according to the provisions herein and the PID Act. "Assessment Ordinance" means the Assessment Ordinance approved by the Town Council to approve the imposition of the Assessments. "Assessment Revenues" mean the revenues actually received by the Town from Assessments. "Assessment Roll" means the document included in this Service and Assessment PIan as ExhibitD, as updated, modified or amended from time to time in accordance with the procedures set forth herein and in the PID Act. "Authorized Improvements" mean those public improvements described in Exhibit B-1 of this Service and Assessment Plan and Section 372.003 of the PID Act. "Bond Indenture" means the indenture, ordinance or similar document setting forth the terms and other provisions relating to the Bonds, as modified, amended, and/or supplemented from time to lime. "Bonds" mean any bonds secured by Assessment Revenues issued by the Town in one or more series. "Costs" mean the actual or budgeted costs, as applicable, of all or any portion of the Authorized Improvements, as described in Exhibit B-1 of this Service and Assessment Plan. "Delinquent Collection Costs" mean interest, penalties and expenses incurred or imposed with respect to any delinquent installments of an Assessment in accordance with §372,018(b) of the 2 014941.0001 9:1050792.05 PID Act and the costs related to pursuing collection of a delinquent Assessment and foreclosing the lien against the Assessed Property, including attorneys' fees. "Developer" means Centurion American Development Group. "Equivalent Units" mean, as to any Parcel, the number of dwelling units by lot type expected to be built on the Parcel multiplied by the following factors: Lot Type 1 1.00 per dwelling unit Lot Type 2 0.76 per dwelling unit Lot Type 3 0.62 per dwelling unit Lot Type 4 0.53 per dwelling unit Lot Type 5 0.44 per dwelling unit "Lot Type 1" means lots defined as Lot Type 1 in the Planned Development Ordinance being generally lots for single family dwellings with a minimum size of 12,000 square feet. "Lot Type 2" means lots defined as Lot Type 2 in the Planned Development Ordinance being generally lots for single family dwellings with a minimum size of 10,000 square feet (but not Lot Type 1). "Lot Type 3" means lots defined as Lot Type 3 in the Planned Development Ordinance being generally lots for single family dwellings with a minimum size of 8,400 square feet (but not Lot Types 1 or 2). "Lot Type 4" means lots defined as Lot Type 4 in the Planned Development Ordinance being generally lots for single family dwellings with a minimum size of 7,200 square feet (but not Lot Types 1, 2, or 3). "Lot Type 5" means lots defined as Lot Type 5 in the Planned Development Ordinance being generally lots for attached dwelling units (townhouses) with a minimum size of 3,000 square feet. "Maximum Assessment" means the following amount per unit for each lot type: Lot Type 1 $27,885.08 per unit Lot Type 2 $21,192.68 per unit Lot Type 3 $17,288.75per unit Lot Type 4 $14,779.09 per unit Lot Type 5 $12,269.45 per unit "Non -Benefited Property" means Parcels within the boundaries of the PID that accrue no special benefit from the Authorized Improvements, including Owner Association Property, Public Property and easements that create an exclusive use for a public utility provider. Property identified as Non -Benefited Property at the time the Assessments (i) are imposed or (ii) are reallocated pursuant to a subdivision of a Parcel is not assessed. Assessed Property converted to Non -Benefited Property, if the Assessments may not be reallocated pursuant to Section VI. B. L, remains subject to the Assessments and requires the Assessments to be prepaid as provided for in Section Vl. C. 2. 014941.00019:1050792.05 "Owner Association Property" means property within the boundaries of the PID that is owned by or irrevocably offered for dedication to, whether in fee simple or through an exclusive use easement, a property owners' association. "Parcel" means a parcel identified by either a tax map identification number assigned by the Denton Central Appraisal District for real property tax purposes or by lot and block number in a final subdivision plat recorded in the real property records of Denton County. "PID Act" means Texas Local Government Code Chapter 372, Improvement Districts in Municipalities and Counties, Subchapter A, Public Improvement Districts, as amended. "PID" has the meaning set forth in Section LA of this Service and Assessment Plan. "PID Costs" mean the actual or budgeted costs, as applicable, of all or any portion of the Authorized Improvements that provide a special benefit to the Assessed Property and are allocated to the PID, as shown in Table III-B, "Planned Development Ordinance" has the meaning set forth in Section I.A of this Service and Assessment Plan. "Prepayment Costs" mean interest and expenses to the date of prepayment, plus any additional amounts due pursuant to the Bond Indenture, reasonably expected to be incurred by or imposed upon the Town as a result of any prepayment of an Assessment. "Public Property" means property within the boundaries of the PID that is owned by or irrevocably offered for dedication to the federal government, the State of Texas, the Town, a school district, a public utility provider or any other public agency, whether in fee simple or through an exclusive use easement. "Service and Assessment Plan" means this Service and Assessment Plan prepared for the PID pursuant to the PID Act. "Town" means the Town of Trophy Club, Texas. "Town Council" means the duly elected governing body of the Town. "Trustee" means the fiscal agent or trustee as specified in the Bond Indenture, including a substitute fiscal agent or trustee. 4 014941.00019:1050792.05 Section H PROPERTY INCLUDED IN THE PID The Highlands of Trophy Club is located in the Town of Trophy Club, Texas, within Denton County, Texas. This planned development contains approximately 697 acres, of which approximately 610 acres is within the PID. The acreage within the planned development but not within the PID consist of approximately 49 acres of the development within Trophy Club Municipal District No.l (MUD 1) and Trophy Club Municipal District No. 2 (MUD 2), approximately 14 acres of commercial uses, 21 acres used for gas well operations, and two acres within rights of way. A map of the property within the PID is shown on Exhibit A to this Service and Assessment Plan. At completion, the PID is expected to consist of approximately 1,474 residential units, two parks, entry monuments, and associated rights -of -way, landscaping, and infrastructure necessary to provide roadways, drainage, and utilities to the PID. For purposes of allocating the Assessments, the Assessed Property has been'classified in one of five lot types. The following table shows the proposed residential lot types: Table II -A Proposed Residential Lot Types II Lot Tvue I Minimum Lot Area I Number of Units I Lot Type 1 12,000 SF 163 Lot Type 2 10,000 SF 508 Lot Type 3 8,400 SF 377 Lot Type 4 7,200 SF 177 Lot Type 5 3,000 SF 249 Total 1,474 The estimated number of lots and the classification of each lot are based upon the Planned Development Ordinance and the Developer's estimated highest and best use of the property within the PID. 014941.00018:1050792.05 Section III DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS Section 372.003 of the PID Act defines the Authorized Improvements that may be undertaken by a municipality or county through the establishment of a public improvement district, as follows: 372.003. Authorized Improvements (a) If the governing body of a municipality or county finds that it promotes the interests of the municipality or county, the governing body may undertake an improvement project that confers a special benefit on a definable part of the municipality or county or the municipality's extraterritorial jurisdiction. A project may be undertaken in the municipality or county or the municipality's extraterritorial jurisdiction. (b) A public improvement may include: (i) landscaping; (ii) erection of fountains, distinctive lighting, and signs; (iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of sidewalks or of streets, any other roadways, or their rights -of way; (iv) construction or improvement of pedestrian malls; (v) acquisition and installation of pieces of art; (vi) acquisition, construction, or improvement of libraries; (vii) acquisition, construction, or improvement of off-street parking facilities; (viii) acquisition, construction, improvement, or rerouting of mass transportation facilities; (ix) acquisition, construction, or improvement of water, wastewater, or drainage facilities or improvements; (x) the establishment or improvement of parks; (xi) projects similar to those listed in Subdivisions (i)-(x); (xii) acquisition, by purchase or otherwise, of real property in connection with an authorized improvement; (xiii) special supplemental services for improvement and promotion of the district, including services relating to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement; and (xiv) payment of expenses incurred in the establishment, administration and operation of the district. 6 014941.00010: 1050792.05 After analyzing the public improvement projects authorized by the PID Act, the Town has determined that the Authorized Improvements should be undertaken by the Town. The estimated total Costs to construct the Authorized Improvements are shown by Table III -A (and more fully shown in Appendix B-1). Table III -A Estimated Costs to Construct the Authorized Improvements Authorized Improvements Estimated Cost I Northwest Parkway improvements, intersection improvements, $3,808,516 and Trophy Club Drive improvements south of Northwest Parkway Trophy Club Drive improvements other than south of $3,794,484 Northwest Parkway Water distribution system (not including elevated water tank) $ 1,290,000 Elevated water tank $1,200,000 Wastewater collection system $915,000 Trail system and open space $1,064,540 Thoroughfare streetscape, median landscaping, sidewalks, $2,280,000 irrigation and irrigation well Screening walls and neighborhood entry features $700,000 Northeast and Northwest parks $5,175,000 Park drainage improvements $974,000 Construction administration and management $50,000 $1,187,437 cost of Authorized Improvements $22,438,977 The Authorized Improvements benefit property inside and outside the PID. Accordingly, the Costs of these improvements must be allocated between property inside the PID and the Town. This allocation is described in Section V of this Service and Assessment Plan. Table III-B shows the portion of the PID Costs, being the actual or budgeted costs, as applicable, of all or any portion of the Authorized Improvements that provide a special benefit to the Assessed Property and are allocated to the PID, as shown in Table III-B. The Developer has agreed to pay the amount by which the total Costs shown in Table III -A exceed the total PID Costs shown in Table III-B (i.e, the Costs allocated to the Town). 7 014941.0001 8:1050792.05 Table III-13 PID Costs Authorized Improvements PID Costs Northwest Parkway improvements, intersection improvements, $3,046,144 and Trophy Club Drive improvements south of Northwest Parkway Trophy Club Drive improvements other than south of $3,794,484 Northwest Parkway Water distribution system (not including elevated water tank) $1,148,100 Elevated water tank $960,000 Wastewater collection system $796,050 Trail system and open space $1,011,039 Thoroughfare streetscape, median landscaping, sidewalks, $1,916,746 irrigation and irrigation well Screening walls and neighborhood entry features $700,000 Northeast and Northwest parks $4,914,916 Park drainage improvements $925,049 Construction administration and management $50,000 PID Costs $20,449,965 The Town anticipates that the improvements to the Northeast and Northwest parks could include the following: playgrounds, pavilions, restrooms, soccer fields, baseball fields, and aquatic facility. The improvements to be provided by the PIDwill meet the additional recreational needs of the Town related to the increase in population from the new housing units to be constructed within the PID. The Town also anticipates that the improvements to the trail system would include the construction of new access paths (including paving) to the Town's existing parks and green space. A discussion of the bonded indebtedness expected to be incurred to fund the PID Costs set forth in Table III-13 is included in Section IV of this Service and Assessment Plan. The costs shown in Table Ill-B are estimates and may be revised in Annual Service Plan Updates. Savings from one line item may be applied to a cost increase in another line item. These transfers, however, are limited to the portion of the savings related to the PID's share of the costs, and these savings may be applied only to the PID's share of the increase in the costs of another line item. 014941.00018:1050792.05 Section IV SERVICE PLAN The PID Act requires a service plan cover a period of at least five years. The service plan is required to define the annual projected costs and indebtedness for the improvement projects undertaken within the PID. The estimated PID Costs plus costs related to the issuance of the Bonds and payment of expenses incurred in the establishment, administration, and operation of the PID is $27,500,000, which PID Costs will be expended during the first five years. The Bonds will be issued on or before September 31, 2008, or the Service and Assessment Plan and the Assessment Roll shall terminate. The plan shall be reviewed and updated annually for the purpose of determining the annual budget for improvements. The annual update to this Service and Assessment Plan is herein referred to as the "Annual Service Plan Update." Bonds are expected to be issued in 2007 or 2008 for all of the PID Costs. Table IV -A shows estimated sources and uses of the Bonds. Table IV -A Sources and Uses of Funds Sources of Funds: Total Bond proceeds $27,500,000 Total sources of funds $27,500,000 Uses of Funds: Estimated PID Costs $20,449,965 Costs of issuance and payment of costs incurred in the establishment, [$2,877,501] administration, and operation of the PID Capitalized interest [$1,463,159] Reserve fund $2,709,375 Total uses of funds $27,500,000 The aggregate principal amount of the Bonds issued shall not exceed $27,500,000. This sources and uses of funds table is subject to revision and the actual sources and uses of funds for any line item may be different than shown above. The sources and uses of funds shown in Table IV -A shall be updated each year in the Annual Service Plan Update to reflect any budget revisions and actual costs. The actual interest rate on the Bonds may require the amount of the Assessments to be reduced, as described in Section VI. E. 2. Developer funds will be paid to complete the Authorized Improvements if the amounts specified above are not sufficient to complete such improvements. The annual projected costs and annual projected indebtedness is shown by Table IV-B. The annual projected costs and indebtedness is subject to revision and shall be updated each in the Annual Service Plan Update to reflect any changes in the costs or indebtedness expected for each year. 9 014941.00018:1050792.05 Table IV-B Annual Projected Costs and Indebtedness Year Annual Annual Projected Projected Costs Indebtedness 2007 $27,500,000 $27,500,000 2008 $0 $0 2009 $0 $0 2010 $0 $0 2011 $0 $0 Total $27,500,000 $27,500,000 10 014941.00018:1050792.05 Section V ASSESSMENT PLAN A. Introduction The PID Act requires the Town Council to apportion the PID Costs on the basis of special benefits conferred upon the property because of the Authorized Improvements. The PID Act provides that the PID Costs may be assessed: (i) equally per front foot or square foot; (ii) according to the value of the property as determined by the governing body, with or without regard to improvements on the property; or (iii) in any other manner that results in imposing equal shares of the cost on property similarly benefited. The PID Act further provides that the governing body may establish by ordinance or order reasonable classifications and formulas for the apportionment of the cost between the municipality and the area to be assessed and the methods of assessing the special benefits for various classes of improvements. This section of this Service and Assessment Plan describes the special benefit received by each Parcel of the Assessed Property as a result of the Authorized Improvements, provides the basis and justification for the determination that this special benefit exceeds the amount of the Assessments, and establishes the methodology by which the Town Council allocates the special benefit of the Authorized Improvements to Parcels in a manner that results in equal shares of the PID Costs being apportioned to Parcels similarly benefited. The determination by the Town Council of the assessment methodology set forth below is the result of the discretionary exercise by the Town Council of its legislative authority and governmental powers and is conclusive and binding on the Developer and all future owners and developers of the Assessed Property. B. Special Benefit The Assessed Property will receive a direct and special benefit from the Authorized Improvements, and this benefit will be equal to or greater than the amount of the Assessments. The Authorized Improvements are provided specifically for the benefit of the Assessed Property. The Authorized Improvements (more particularly described in line -item format on Exhibit B-1 and B-2 to this Service and Assessment Plan) and the costs of issuance and payment of costs incurred in the establishment, administration, and operation of the PID shown in Table IV -A are authorized by the Act. The owners of the Assessed Property have acknowledged that the Authorized Improvements confer a special benefit on the Assessed Property and have consented to the imposition of the Assessments to pay for the PID Costs. The owners are acting in their interest in consenting to this imposition because the special benefit conferred upon the Assessed Property by the Authorized Improvements exceeds the amount of the Assessments. The owners of the Assessed Property have ratified, confirmed, accepted, agreed to and approved: (i) the determinations and finding as to benefits by the Town Council in the Service and Assessment Plan and the Assessment Ordinance (ii) the Service and Assessment Plan and the Assessment Ordinance. Use of the Assessed Property as described in this Service and Assessment Plan and as required by the PIanned Development Ordinance will require that Authorized Improvements be acquired, constructed, installed, and improved. Funding the PID Costs through the PID is determined to be the most beneficial means of doing so. As a result, the Assessments result in a special benefit to the Assessed Property, and this special benefit exceeds I 1 014941.00018:1050792.05 the amount of the Assessments. This conclusion is based on and supported by the evidence, information, and testimony provided to the Town Council. C. Allocation of Costs to the PID The Authorized Improvements will provide a special benefit to the property inside and outside the PID. Accordingly, the Costs of the Authorized Improvements must be allocated between the property inside the PID and outside of the PID (i.e., to the Town). The Developer has agreed to pay all costs of the Authorized Improvements allocated to the Town. The allocation of these costs is shown in Appendix B-2 and summarized as follows (percentages are rounded): Thorough&e improvements — A portion of the thoroughfare improvements provides access to property outside the PID, therefore the costs of these improvements are allocated on the basis of estimated trips from property inside and outside the PID. The trips from the property in the PID are estimated to represent 80% of the total trips. Accordingly, 80% of the costs of these improvements are allocated to the PID with the balance allocated to the Town. A portion of the thoroughfare improvements to Trophy Club Drive (North of Northwest Parkway), provide access only to property in the PID; therefore, the improvements are allocated entirely to the PID. Water distribution system — The costs of the water distribution system are allocated on the basis of gallons per day of estimated use by property inside and outside the PID, This allocation results in 89% of the costs of the water distribution system being allocated to the PID with the balance being allocated to the Town (note: commercial property in the development uses less water compared to trips generated, which results in the higher allocation of water improvements compared to thoroughfare improvements). Elevated water tank — The costs of the elevated water tank are allocated on the basis of the estimated storage requirements, including storage requirements for average daily use and fire protection, for property inside the PID and other property not in the PID but served by the elevated water tank. This allocation results in 80% of these costs being allocated to the PID with the balance being allocated to the Town. Wastewater collection system — The costs of the wastewater collection system are allocated on the basis of the total estimated sewage generated from property inside the PID and other property not in the PID but served by these improvements. This allocation results in 87% of these costs being allocated to the PID with the balance allocated to the Town. Thoroughfare landscaping — The costs of the thoroughfare landscaping are allocated on the basis of the estimated linear feet of roadway inside the PID compared to the estimated total linear footage on the roadway to be built. This allocation results in 84% of the costs of the improvements being allocated to the PID with the balance allocated to the Town. Screening Walls and Neighborhood Monuments — The screening walls are along roads that are entirely within the PID and screen property within the PID from the road. Additionally, the road 12 014941.00018:1050792.05 screened by the screening walls primarily provides access to property within the PID. Accordingly, these costs are allocated entirely to the PID. The neighborhood monuments are for neighborhoods within the PID and therefore are allocated entirely to the PID. Trail system, open space, and public parks — The trail system, open space, and public parks are allocated on the basis of the estimated number of residential units within the PID compared to the number estimated to be within the development. This allocation results in 95% of these costs being allocated to the PID with the balance allocated to the Town. Park Drainage Improvements — The park drainage improvements consists of burying drainage improvements to the land on which the improvements are located so the recovered land can be used for a park and commercial development. The park is within the PID. The costs of these improvements are allocated on the basis of the property recovered for alternative use. This allocation results in 95% of these costs being allocated to the PID with the balance allocated to the Town. Construction management and administration — The costs of construction management and administration relate only to the construction of the Authorized Improvements allocated to the PID. Construction management and administration related to the Authorized Improvements allocated to the Town will be paid separately and not from PID proceeds. Accordingly, construction management and administration costs are allocated entirely to the PID. Contingency — Contingency funded from proceeds of the Bonds will be available only to cover the portion of the costs allocated to the PID. Accordingly, these costs are allocated entirely to the PID. Land acquisition — Costs of right-of-way (whether actual or based on appraised fair market value) for an improvement are allocated to the PID in the same proportion as the costs of an improvement are allocated to the PID. D. Assessment Methodology 1. The PID Costs may be assessed by the Town Council against the Assessed Property so long as the special benefit conferred upon the Assessed Property by the Authorized Improvements equals or exceeds the Assessments. The PID Costs may be assessed using any methodology that results in the imposition of equal shares of the PID Costs on Assessed Property similarly benefited. 2. For purposes of this Service and Assessment Plan, the Town Council has determined that the PID Costs shall be allocated to the Assessed Property on the basis of the relative value of Parcels after undertaking the Authorized Improvements and that such method of allocation will result in the imposition of equal shares of the PID Costs on Parcels similarly benefited. In determining the relative value of Parcels, the Town Council has taken into consideration (i) the type of residential development (i.e., single-family, duplex, or multi -family); (ii) single-family lot size and the size of homes likely to be built on lots of different size; (iii) current and projected home prices provided by the Developer; (iv) the Authorized Improvements to be provided and the PID Costs, and (v) the ability of different property types to utilize and benefit from the improvements. In determining the ability of different property types to utilize and benefit from 13 014941.00018:1050792.05 the improvements, the Town Council has taken into consideration independent studies supporting the conclusion that larger, more expensive homes, on average, will create more vehicle trips and greater demands for water and wastewater consumption, and larger, more expensive homes are likely to be built on larger lots. For example, the Arizona Department of Transportation conducted a study (described in Development and Application of Trip Generation Rates) on the relationship between property values and trip generation rates of residential property. This study examined residential communities in Delaware, Wisconsin, Ohio, and several other states. The study demonstrated a relationship between property value and trip generation rates, with more expensive homes having higher trip generation rates than less expensive homes. 3. Having taken into consideration the matters described above, the Town Council has determined that allocating the PID Costs among Parcels based on value after constructing the Authorized Improvements is best accomplished (and most easily illustrated) by creating classifications of benefited Parcels based on the "Lot Types" defined in Section I.B of this Service and Assessment Plan. These classifications (from Lot Type 1 representing the highest value to Lot Type 5 representing the lowest value) is set forth in Table V-A below. This table illustrates that the Town Council has determined that a Lot Type I dwelling unit receives the greatest benefit from the Authorized Improvements, which benefit is given an "Equivalent Unit' value of 1.0 per dwelling unit. The Town Council has determined that a Lot Type 2 dwelling unit receives a smaller benefit; namely, 76% of the benefit received by a Type I Lot dwelling unit (hence the Equivalent Unit value of 0.76 per dwelling unit). This table illustrates that the Town Council has determined that a Lot Type 3 dwelling unit receives an even smaller benefit; namely, 62% of the benefit received by a Type 1 dwelling unit (hence the Equivalent Unit value of 0.62 per dwelling unit). The table further illustrates that the Town Council has made similar determinations with respect to all of the Lot Types. Rounded TABLE V-A Equivalent Unit Factors Lot Type Average Estimated Unit Value' Equivalent Unit Valuel Lot Type I (single-family $425,000 1.00 per dwelling residential) Lot Type 2 (single-family $325,000 0.76 per dwelling residential) unit Lot Type 3 (single-family $265,000 0.62 per dwelling residential) unit Lot Type 4 (single-family $225,000 0.53 per dwelling residential) unit Lot Type 5 (attached $185,000 0.44 per dwelling residential) unit 14 014941.00016:1050M.05 4. The following table (Table V-B) shows the calculation of the Assessment per Equivalent Unit. There are a total of 986.19 Equivalent Units in the PID. The total Assessments are equal to $27,500,000, resulting in an Assessment per Equivalent Unit of $27,895.08. TABLE V-B Assessment Per Equivalent Unit Lot Type Equivalent Units Total Number of Dwellj!jS Units Total Equivalent Units Lot Type 1 1.00 per dwelling 163 dwelling units 163.00 Lot Type 2 0.76 per dwelling 508 dwelling units 386.08 unit Lot Type 3 0.62 per dwelling 377 dwelling units 233.74 unit Lot Type 4 0.53 per dwelling 177 dwelling units 93.81 unit Lot Type 5 0,44 per dwelling 249 dwelling units 109.56 unit Total Equivalent Units 986.19 Total Assessments $27,500,000 Assessment Per $27,885.08 Equivalent Unit 5. The Assessment per dwelling unit is calculated as the product of (i) $27,885.08 multiplied by (ii) the applicable Equivalent Unit value for each Lot Type. For example, the Assessment for a Lot Type 1 dwelling unit is $27,885.08 ($27,885.08 x 1.0). The Assessment for a Lot Type 2 dwelling unit is $21,192.68 ($27,885.08 x 0.76). Table V-C sets forth the Assessment per dwelling unit for each of the five Lot Types. TABLE V-C Estimated Assessment Per Lot Type Lot Type Equivalent Units Assessment per Dwelling Unit Lot Type 1 1.0 per dwelling unit $27,885,.08 per dwelling unit Lot Type 2 0.76 per dwelling unit $21,192.68 per dwelling unit Lot Type 3 0.62 per dwelling unit $17,288.75 per dwelling unit Lot Type 4 0.53 per dwelling unit $14,779.09 per dwelling unit Lot Type 5 0.44 per dwelling unit $12,269.45 per dwelling unit 15 014941.00018! 1050792.05 Section VI TERMS OF THE ASSESSMENTS A. Amount of Assessments The Assessment for each Parcel is shown on the Assessment Roll, and no Assessment shall be changed except as authorized by this Service and Assessment Plan or the PID Act. The Assessments shall not exceed the amount required to repay the principal amount of the Bonds and shall be collected with interest and Annual Collection Costs in an amount to pay principal and interest on the Bonds and to cover Annual Collection Costs of the PID. B. Reallocation of Assessments 1. Upon Subdivision Upon the subdivision of any Parcel, the Administrator shall reallocate the Assessment for the Parcel prior to the subdivision among the new subdivided Parcels according to the following formula: A=Bx(C-D) Where the terms have the following meanings: A = the Assessment for each new subdivided Parcel. B = the Assessment for the Parcel prior to subdivision. C = the Equivalent Units allocated to each newly subdivided Parcel D = the sum of the Equivalent Units for all of the new subdivided Parcels The calculation of the Equivalent Units as to a Parcel shall be performed by the Administrator and confirmed by the Town Council based on the information available regarding the use of the Parcel. The estimate as confirmed shall be conclusive. The number of units to be built on a Parcel may be estimated by net land area and reasonable density ratios. Lot type shall be determined by the description that is most similar to the lots being classified. The sum of the Assessments for all newly subdivided Parcels shall equal the Assessment for the Parcel prior to subdivision. The calculation shall be made separately for each newly subdivided Parcel. The reallocation of an Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment prior to the reallocation. Any reallocation pursuant to this section shall be reflected in an update to this Service and Assessment Plan approved by the Town Council. 2. Upon Consolidation Upon the consolidation of two or more Parcels, the Assessment for the consolidated Parcel shall be the sum of the Assessments for the Parcels prior to consolidation. The reallocation of an Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment 16 014941.00018:1050792.05 prior to the reallocation. Any reallocation pursuant to this section shall be calculated by the Administrator and reflected in an update to this Service and Assessment Plan approved by the Town Council. C. Mandatory Prepayment of Assessments 1. If at any time the Assessment on a Parcel exceeds the Maximum Assessment calculated for the Parcel as a result of any reallocation of an Assessment authorized by this Service and Assessment Plan and initiated by the owner of the Parcel, then such owner shall pay to the Town prior to the recordation of the document subdividing the Parcel the amount calculated by the Administrator by which the Assessment for the Parcel exceeds the Maximum Assessment for the Parcel. The Town shall not approve the recordation of a plat or other document subdividing a Parcel without a letter from the Administrator either (a) confirming that the Assessment for any new Parcel created by the subdivision will not exceed the Maximum Assessment for each Parcel, or (b) confirming the payment of the Assessments, plus all Prepayment Costs, as provided for herein. 2. If a Parcel or portion thereof is transferred to a party that is exempt from the payment of the Assessment under applicable law, or if an owner causes a Parcel or portion thereof to become Non -Benefited Property, the owner of such Parcel or portion thereof shall pay to the Town the full amount of the Assessment, plus all Prepayment Costs, for such Parcel or portion thereof prior to any such transfer or act. 3. The payments required above shall be treated the same as any Assessment that is due and owing under the Act, the Assessment Ordinance, and this Service and Assessment Plan, including the same lien priority, penalties, procedures, and foreclosure specified by the Act. D. Reduction of Assessments I. If after all Authorized Improvements have been completed the actual PID Costs are less than the PID Costs used to calculate the Assessments, resulting in excess Bond proceeds being available to redeem Bonds, then the Assessment for each Parcel shall be reduced by an equal percentage such that the sum of the resulting reduced Assessments for all Parcels equals the actual reduced PID Costs and such excess Bond proceeds shall be applied to redeem Bonds. The Assessments shall not be reduced to an amount less than the outstanding Bonds. 2. If all the Authorized Improvements are not undertaken, resulting in excess Bond proceeds being available to redeem Bonds, the Assessment for each Parcel shall be appropriately reduced by the Town Council to reflect only the PID Costs that were expended and such excess Bond proceeds shall be applied to redeem Bonds. The Town Council may reduce the Assessments for each Parcel by an equal percentage such that the sum of the resulting reduced Assessments equals the PID Costs with respect to the Authorized Improvements that were undertaken. The Assessments shall not be reduced to an amount less than the outstanding Bonds. E. Payment of Assessments 1. Payment in Full (a) The Assessment for any Parcel may be paid in full at any time. Payment shall include all Prepayment Costs. If prepayment in full will result in a redemption of Bonds, the payment 17 014941,00018:1050792.05 amount shall be reduced by the amount, if any, of interest through the date of redemption of Bonds and reserve funds applied to the redemption under the Bond Indenture, net of any other costs applicable to the redemption of Bonds. (b) If an Annual Installment has been billed prior to payment in full of an Assessment, the Annual Installment shall be due and payable and shall be credited against the payment -in -full amount. (c) Upon payment in full of an Assessment and all Prepayment Costs, the Town shall deposit the payment in accordance with the Bond Indenture; whereupon, the Assessment shall be reduced to zero, and the owner's obligation to pay the Assessment and Annual Installments thereof shall automatically terminate. (d) At the option of the owner, the Assessment on any Parcel plus Prepayment Costs may be paid in part in an amount sufficient to allow for a convenient redemption of Bonds as determined by the Administrator. Upon the payment of such amounts for a Parcel, the Assessment for the Parcel shall be reduced, the Assessment Roll shall be updated to reflect such partial payment, and the obligation to pay the Annual Installment for such Parcel shall be reduced to the extent the partial payment is made. 2. Payment in Annual Installments The Act provides that an Assessment for a Parcel may be paid in full at any time. If not paid in full, the Act authorizes the Town to collect interest and collection costs on the outstanding Assessment. An Assessment for a Parcel that is not paid in full will be collected in Annual Installments each year in the amounts shown in the Assessment Roll, which include interest on the outstanding Assessments and Annual Collection Costs. Payment of the Annual Installments shall commence with tax bills mailed in 2008, unless this Service and Assessment Plan and the Assessment Roil have terminated, Each Assessment shall bear interest of no more than the lesser of (i) the actual interest rate paid on the Bonds and (ii) eight percent per annum. The Assessment Roll sets forth for each year the Annual Installment for each Parcel based on an estimated interest rate of 8%. The actual interest on the Bonds may be different than the interest rate estimated in the Assessment Roll, but may not exceed 8.0%. The Assessment Roll shall be updated once the interest rate is known on the Bonds to reflect the actual interest rate. Once the Assessment Roll has been updated to reflect the actual interest rate paid on the Bonds, the Annual Installments may not exceed the amounts shown on the Assessment Roll. . The Annual Installments shall be reduced to equal the actual costs of repaying the Bonds and actual Annual Collection Costs (as provided for in the defmition of such term), taking into consideration any other available funds for these costs, such as interest income on account balances. F. Collection of Annual Installments No less frequently than annually, the Administrator shall prepare, and the Town Council shall approve, an Annual Service Plan Update to allow for the billing and collection of Annual Installments. Each Annual Service Plan Update shall include an updated Assessment Roll and a 18 014941.00018:1050792.05 calculation of the Annual Installment for each Parcel. Annual Collection Costs shall be allocated among Parcels in proportion to the amount of the Annual Installments for the Parcels. Each Annual Installment shall be reduced by any credits applied under the applicable Bond Indenture, such as capitalized interest, interest earnings on any account balances, and any other funds available to the Trustee for such purpose, including any existing deposits for a prepayment reserve. Annual Installments shall be collected by the Town in the same manner and at the same time as ad valorem taxes and shall be subject to the same penalties, procedures, and foreclosure sale in case of delinquencies as are provided for ad valorem taxes of the Town. The Town Council may provide for other means of collecting the Annual Installments to the extent permitted under the PID Act. The Assessments shall have lien priority as specified in the Act. Any sale of property for nonpayment of the Annual Installments shall be subject to the lien established for the remaining unpaid Annual Installments against such property and such property may again be sold at a judicial foreclosure sale if the purchaser thereof fails to make timely payment of the non -delinquent Annual Installments against such property as they become due and payable. 19 014941.00018:1050792.05 Section VII THE ASSESSMENT ROLL Each Parcel has been evaluated by the Town Council (based on the Planned Development Ordinance, developable area, proposed Owner Association Property and Public Property, the Authorized Improvements, best and highest use of land, and other development factors deemed relevant by the Town Council) to determine, by Lot Type, the number of dwelling units that are anticipated to be developed within the Parcel. Each dwelling unit is then multiplied by the applicable amount per dwelling unit set forth in last column of Table V-C of this Service and Assessment Plan, and the total of such amounts for all dwelling units within the Parcel shall constitute the "Assessment" for the Parcel set forth on the Assessment Roll. The Assessment Roll shall be updated upon the preparation of each Annual Service Plan Update to reflect, for each Parcel, subdivisions, consolidations, prepayments, and reductions authorized by this Service and Assessment Plan. The Administrator shall prepare, and the Town Council shall review and approve, annual updates to the Assessment Roll in conjunction with the Annual Service Plan Update to reflect the following matters, together with any other changes helpful to the Administrator or the Town and permitted by the Act: (i) the identification of each Parcel; (ii) the Assessment for each Parcel, including any adjustments authorized by this Service and Assessment Plan or in the Act; (iii) the Annual Installment for the Parcel for the year (if the Assessment is payable in installments); and (iv) payments of the Assessment, if any, as provided by Section VI.0 of this Service and Assessment Plan. Once Bonds are issued, the Assessment Roll shall be updated, which update may be done in the next Annual Service Plan Update, to reflect any changes resulting from the issuance of the Bonds. This update shall reflect the actual interest on the Bonds at which the Annual Installments shall be paid, any reduction in the Assessments, changes to the Maximum Assessments, and any revisions in the Costs to be funded by the Bonds and Developer funds. 20 014941.00018:1050792.05 E. Severability If any provision, section, subsection, sentence, clause or phrase of this Service and Assessment Plan, or the application of same to an Assessed Parcel or any person or set of circumstances is for any reason held to be unconstitutional, void or invalid, the validity of the remaining portions of this Service and Assessment Plan or the application to other persons or sets of circumstances shall not be affected thereby, it being the intent of the Town Council in adopting this Service and Assessment Plan that no part hereof, or provision or regulation contained herein shall become inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any other part hereof, and all provisions of this Service and Assessment Plan are declared to be severable for that purpose. If any provision of this Service and Assessment Plan is determined by a court to be unenforceable, the unenforceable provision shall be deleted from this Service and Assessment Plan and the unenforceable provision shall, to the extent possible, be rewritten to be enforceable and to give effect to the intent of the Town. 22 014941,00019:1050792.05 Exhibit A PID MAP 014941,00018:1050792.05 Exhibit B-1 ESTIMATED PID COSTS 014941.00019:1050792.05 W Exhibit C DIAGRAM OF THE AUTHORIZED IMPROVEMENTS 014941.00019:1050792.05 Exhibit D ASSESSMENT ROLL 014941.00018;1050792.05 A �C p W a 7 U ° r C o�_ Z o ' ° � o O S all O r n E a mB c g NaE� g p iiiiili:(i :i:i::i��i•: i�:!;,, ssv.. ae��a✓ �� a a P . i2'Eiiili'::.•g�"ji t g4�a 3 `i i:i:it ::sic ! .:tl6 Ssi::g s �B iwiwoi- fiffi is • C C I e Exhibit B-1 Estimated Cost of the Authorized Improvements Exhibit B Project List The Highlands at Trophy Club Development and Public Improvement District Agreement UpmuR OctoW 1Z 2007 PROJECT THOROUGHFARE IMPROVEMENTS (NW Pkwy, TC Dr. south of NW PkwY, Int. Imp) COST NORTHWEST PARKWAY IMPROVEMENTS $800,000.00 LAND ACQUISITION (APPROX. 2612 ACRES) $363,687.41 SUB- TOTAL MARSHALL CREEK RD WEST IMPROVEMENTS: $1,163.667.41 TROPHY CLUB DRIVE- SOUTH OF NORTHWEST PARKWAY IMPROVEMENTS $1,514,000.00 LAND ACQUISITION (APPROX. 6.711 ACRES) $610.849.00 SUB- TOTAL TROPHY CLUB DRIVE SOUTH IMPROVEMENTS: $2.124.849.00 INTERSECTION IMPROVEMENTS $520,000.00 SUB- TOTAL THOROUGHFARE IMPROVEMENTS: $3,808,618.41 THOROUGHFARE IMPROVEMENTS (TC Dr. other than south o1 HIM Pkwy, TO Park Dr.) TROPHY CLUB DRIVE IMPROVEMENTS $1,500.000.00 LAND ACQUISITION (APPROX. 12873 ACRES) $1 079,896.37 SUB- TOTALTROPHY CLUB DRIVE IMPROVEMENTS: $2,579,896.37 TROPHY CLUB PARK DRIVE IMPROVEMENTS SB74,000.00 LAND ACQUISITION (APPROX. 4.080 ACRES) $340,557.22 SUB -TOTAL MARSHALL GREEK RD EAST IMPROVEMENTS: $1,214.587.22 SUB- TOTAL THOROUGHFARE IMPROVEMENTS: $3,794,483.59 WATER DISTRIBUTION SYSTEM 12116" WATER LINE LOOP $960,000.00 12" WATER LINE -ALONG MG ROAD WEST AND NORTH TO ELEV. TANK SITE $250,000.0D 12-WATER UNE-SCHOOL SITE OVER -SIZING PARTICIPATION $80,000.00 SUB -TOTAL WATER DISTRIBUTION SYSTEM IMPROVEMENTS: $1.290,000.00 ELEVATED WATER TANK (0.5MG TANK) $1,200,000.00 WASTEWATER COLLECTION SYSTEM SANITARY SEWER LINE WITHIN TROPHY CLUB DRIVE $460,000.60 SEWER LINE TO EXISTING SYSTEM 3455,000.00 SUB -TOTAL WASTEWATER COLLECTION SYSTEM: $515,000.00 TRAIL SYSTEM AND OPEN SPACE TRAIL SYSTEM $56D,DOD.00 FLOWAGE EASEMENT LAND ACQUISITION (APPROX. 100.900 ACRES) $504,540.00 SUB -TOTAL TRAIL IMPROVEMENTS AND OPEN SPACE: $1,094.640.00 THOROUGHFARE LANDSCAPING & IRRIGATION TROPHY CLUB DRIVE STREETSCAPE AND MEDIAN LANDSCAPING $800,DOD.OD TROPHY CLUB DRIVE SIDEWALK $400,000.00 TROPHY CLUB DRIVE IRRIGATION $70,OOD.00 IRRIGATION WELLS $500,000.00 IRRIGATION PONDS $510,000.00 SUB- TOTAL THOROUGHFARE LANDSCAPING & IRRIGATION: $2,200,000.00 SCREENING WALLS AND NEIGHBORHOOD ENTRY FEATURES TROPHY CLUB DRIVE DECORATIVE MASONRY SCREENING WALL $350.000.00 MARSHALL CREEK ROAD EAST THIN SCREENING WALL $150,000.00 NEIGHBORHOOD ENTRY FEATURES (10 ENTRIES) $200,000.00 SUB - TOTAL SCREENING WALLS AND NEIGHBORHOOD ENTRY FEATURES: $700,000-00 DEVELOPMENT SIGNATURE MONUMENT (TOWER) $0.00 PUBLIC PARKS NORTHWEST PARK IMPROVEMENTS $2,300,000.00 NORTHWEST PARK LAND ACQUISITION (APPROX. 12900 ACRES) 51,700,000.00 NORTHEAST PARK IMPROVEMENTS 5175,000.00 NORTHEASTPARK LAND ACQUISITION (APPROX. 10,100 ACRES) $1,000,000.D0 SUB -TOTAL PUBLIC PARKS: $5,175,000.00 C:Nocmanls antl SeWngalnwneNnml S.N,,%Temrywmy 1 WI1 007 The Highlands atTrophy Club Development and Public Improvement District Agreement ❑p&W6 Oct bv17,2007 PARK DRAINAGE IMPROVEMENTS $974,000.00 CONSTRUCTION ADMINISTRATION I MANAGEMENT $50,000.00 CONTINGENCY $1,187,407.00 COMPREHENSIVE TOTAL.: M43e,977.00 C:1Docmnenle en0 SeWngc'AvneRucol0e16nOz\Tamparvy Inlnmel FibeWtlO/1rCM9utenlpBltgEerypdo. 101151200/ Exhibit B-2 Allocation of Costs to the PID Trophy Club Public Improvement District No.1 Project List Engineer's Opinion of Probable Costs Updolod: October 12, 2007 PERCENT ALLOCATED 1. THOROUGHFARE IMPROVEMENTS (NW Pkwy, TC Dr. south of NW Pkwy, Int Imp) COST IN PID TO Pin NORTHWEST PARKWAY IMPROVEMENTS $600,000.D0 80% $639.859.52 LAND ACQUISITION (APPROX. 2.612 ACRES) $363,667,41 80% $290,870.07 SUB- TOTAL MARSHALL CREEK RD WEST IMPROVEMENTS: $1,163,667Al 80% $930,729.58 TROPHY CLUB DRIVE- SOUTH OF NORTHWEST PARKWAY IMPROVEMENTS $1.514,000.00 80% $1,210,934.13 LAND ACQUISITION (APPROX. 6.711 ACRES) $610.849.00 80% $488,571.93 SUB- TOTALTROPHY CLUB DRIVE SOUTH IMPROVEMENTS: $2,124,849.00 80% $1,699,506.06 INTERSECTION IMPROVEMENTS $520.000.00 SUB- TOTAL THOROUGHFARE IMPROVEMENTS: $3,808,516.41 2. THOROUGHFARE IMPROVEMENTS (TC Dr. otherthen south of NW Pkwy, TC Park Dr.) TROPHY CLUB DRIVE IMPROVEMENTS $1,500.000.00 $1,079,896.37 $2,579,696.37 LAND ACQUISITION (APPRO)C 12.873 ACRES) SUB - TOTAL TROPHY CLUB DRIVE IMPROVEMENTS: 80% $415,9D8.69 $3,046,144.33 100% $1,500,000.00 100% $1,079,896.37 100% $2,579,89B.37 TROPHY CLUB PARK DRIVE IMPROVEMENTS $874,000.00 100% $874,000.00 LAND ACQUISITION (APPROX. 4.060 ACRES) $340,587.22 100% $340,587.22 SUB- TOTAL MARSHALL CREEK RD EAST IMPROVEMENTS: $1,214,587.22 1001% $1,214,587.22 SUB- TOTAL THOROUGHFARE IMPROVEMENTS: $3,794,483.59 $3,794,483.59 3. WATER DISTRIBUTION SYSTEM 12"116" WATER LINE LOOP $950,000.00 89% $854,400.00 12" WATER LINE - ALONG MC ROAD WEST AND NORTH TO ELEV. TANK SITE $250,000.00 89% $222,500.00 12" WATER LINE - SCHOOL SITE OVER -SIZING PARTICIPATION $80,000.00 89% $71.200.00 SUB - TOTAL WATER DISTRIBUTION SYSTEM IMPROVEMENTS: $1,290,000.00 $1,148,100.00 4. ELEVATED WATER TANK (0.5MG TANK) $1,200,000.00 80% $960,000.00 S. WASTEWATER COLLECTION SYSTEM SANITARY SEWER LINE WITHIN TROPHY CLUB DRIVE $460,000.00 87% $400,200.00 SEWER LINE TO EXISTING SYSTEM $455,000.00 870/6 $395,850.00 SUB -TOTAL WASTEWATER COLLECTION SYSTEM: $915,000.00 $796,050.00 6. TRAIL SYSTEM AND OPEN SPACE TRAIL SYSTEM $560,000.00 95% $531,855.67 FLOWAGE EASEMENT LAND ACQUISITION (APPROX. 100.908 ACRES) $504,540.00 95% $479,182.98 SUB -TOTAL TRAIL IMPROVEMENTS AND OPEN SPACE: $1,064,540.00 $1,011,038.63 7. THOROUGHFARE LANDSCAPING & IRRIGATION TROPHY CLUB DRIVE STREETSCAPE AND MEDIAN LANDSCAPING $80D,000.00 84% $672,542.37 TROPHY CLUB DRIVE SIDEWALK $400,000.00 84% $336,271.19 TROPHY CLUB DRIVE IRRIGATION $70,000.00 84% $58,847.46 IRRIGATION WELLS $500,000.00 84% $420,338.98 IRRIGATION PONDS $510,000.00 114% $428,745.76 SUB - TOTAL THOROUGHFARE LANDSCAPING & IRRIGATION: $2,28D,D00.00 $1,916,745.76 8. SCREENING WALLS AND NEIGHBORHOOD ENTRY FEATURES TROPHY CLUB DRIVE DECORATIVE MASONRY SCREENING WALL $350.000.00 100% $350,000.00 MARSHALL CREEK ROAD EAST THIN SCREENING WALL $150,000.00 100% $150,000.00 NEIGHBORHOOD ENTRY FEATURES (10 ENTRIES) $200,000.00 100% $200,000.00 SUB - TOTAL SCREENING WALLS AND NEIGHBORHOOD ENTRY FEATURES: $700,000.00 $700,000.00 9. DEVELOPMENT SIGNATURE MONUMENT(TOWER) $0.00 $0.00 I:1.SU0W225MW25292151:DATA1TCMa 0,1d r,L10.1207_PlD..k Carter & Burgess, Iltc. 1011212007 Trophy Club Public Improvement District No.1 Project List Engineer's Opinion of Probable Costs 10. PUBLIC PARKS Updated: October 12, 2007 NORTHWEST PARK IMPROVEMENTS $2,300,000.00 95% $2,184,407.22 NORTHWEST PARK LAND ACQUISITION(APPROX. 12.900 ACRES) $1,700,000.OD 95% $1,614,561.86 NORTHEAST PARK IMPROVEMENTS $175,000.00 95% $166,204.90 NORTHEAST PARK LAND ACQUISITION (APPROX.16.100 ACRES) $1,000,000.00 95% $949,742.27 SUB - TOTAL PUBLIC PARKS: $5,175,000.00 $4,914,916.24 11. PARK DRAINAGE IMPROVEMENTS $974,000.00 95% $925,048.97 12. CONSTRUCTION ADMINISTRATION / MANAGEMENT 13. CONTINGENCY COMPREHENSIVE TOTAL - SUMMARY 1. THOROUGHFARE IMPROVEMENTS (NW Pkwy, TO Dr, south of NW Pkwy, Int. Imp) 2. THOROUGHFARE IMPROVEMENTS (TO Dr. other than south of NW Pkwy, TO Park Dr.) 3. WATER DISTRIBUTION SYSTEM 4. ELEVATED WATER TANK (0.5MG TANK) 5. WASTEWATER COLLECTION SYSTEM 6. TRAIL SYSTEM AND OPEN SPACE 7. THOROUGHFARE LANDSCAPING & IRRIGATION 8. SCREENING WALLS AND NEIGHBORHOOD ENTRY FEATURES 9. DEVELOPMENT SIGNATURE MONUMENT (TOWER) 10 PUBLIC PARKS 11. PARK DRAINAGE IMPROVEMENTS 12, CONSTRUCTION ADMINISTRATION / MANAGEMENT 13. CONTINGENCY COMPREHENSIVE TOTAL: $50,000.00 $50,000.00 $1,187,437.00 $1,187,437.00 $22,438,977.00 $20,449,964.53 ALLOCATED COST TO PID $3,808,516.41 $3,046,144.33 $3,794,483.59 $3,794,483.59 $1,290,000.00 $1,148,100.00 $1,200,00D.00 $960,000.00 $915,000.00 $796,050.00 $1,064,540.00 $1,011,038.63 $2,280,000.00 $1,916,745.76 $700,000.00 $700,000.00 $0.00 $0.00 $5,175,000.00 $4,914,916.24 $974,000.00 $925,048.97 $50,000.00 $50,000.00 $1,187,437.00 $1,187,437.00 $22,438,977.00 $20,449,964.53 CVSLD=5MO225292151EOATA%TCtAaawiNte_10.12.07 IDxk Carter & Burgess, Inc. 10/122007 .4 ♦pig{r Ilmm� ip . A:D 4 0 �� •`�:♦� 0+��i � � �l phi O p� � l_i?� Srii I �`�i� i ..� ,,,.♦a`,_ , IRV � 6itttp � ill e� �C11�a♦♦ / •��<ri 'tr IrvWIS pl . ..r ► Ma 1 �i' j �I V Q{1{ {11111■lt' .a1 f1 AS �9 :i I •♦ 11 ♦ �I tt�l _ +• .• • ♦♦ ♦ I � • \till . �::: G�� I I�� lltl►� ITV �+�� ♦tit. G litrtnnpli Ir1��I ■,: rununitr i ii anir��liir �� ►i�►�y t , isw Exhibit C DIAGRAM OF THE AUTHORIZED IMPROVEMENTS 014941.00018:1050792.02 —h'I'WI'I.1 t n Illllllilllllll�l�lllll�� s " 1111111llllllfl111111 ,_, .. • . "� .I II 11111111'llllllllli u�c - a �\1lllltliilf • i i� � Qtt■ .�i . ♦11i��,4i . �.��.�.r ��®� �.m►p�♦tea IN 141 pe � •ii�Gi1 � ♦ �,�♦�1 �j11♦ �� f• onnmrlyd ��, yip.♦rirlr :� + S .. ♦ar ♦ rpa = + r� ■■ IIA �np nqr�. � �� IIIIId ♦�'�� r ��, tlumm• ■ 11�� II ®® r► Ii 1�►41 qIl n : ■ �� 1I1 is rr �i�1I 1/�� Ohl ii♦♦i i♦♦ ♦II�f (\\IDIU1111 •.a I lit ♦��tt:1 II II II 11�v pi 4�i�lO`�♦ �i�yz��aoo\0\�� Nm\4\o 111I1>t' � C11rrL : 1� :� �ciV : q ��Ifw —• � �� • � inn -?=; :�•!: i��i �� ,�� 1 • �14nry ::I ��+� :a•�1��1D�1� � �1� rN �1 � • r �� ' tt �� +rnn � �►� ��0�� ifs: � �sI �ai�aa �� pt�ll� ��. ' 01- ♦ ♦ ` pmam� �a ��i��0 �y pa��■ o�� f�a 4irsii��+I�I��I�� j1�1�1��• ii i� �� .I �� atrr 1 �� \ � 1 11 �� ♦ • t a� •r p/1 �� UIIII ��I��Il! 1I gum n1 ♦ ��1 inmiiQCrt��il4 V*. 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O�nO •4a ��pulU r�adaoir+►` �i'IIU�d dA�i` rar rmm�ou■nr�tC pp 111111111�� _nutnl /�: _:.�:;'o'..r;��► ii +i u 11 CC � �� Girl .��9f� •!1 tt■.■t��t.��t.� roii+li + �� IU Oar ♦. �+�I� I1Da�a�t41' '!•�•'• +�tl11 O ♦ .. y.IN Exhibit D ASSESSMENT ROLL Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R305643 $1,646,614.00 R73937 $1,150,817.00 R133131 $21,193.00 R171502 $21,193.00 R312617 $254,312.00 R312619 $932,478.00 R312675 $197,427.00 R313701 $21,193.00 R313702 $0.00 R313706 $63,578.00 R313711 $84,771.00 R313720 $63,578.00 R68393 $0.00 R171480 $722,782.00 R171482 $0.00 R171484 $0.00 R171503 $1,206,867.00 R312605 $1,370,831.00 R312606 $645,819.00 R312607 $0.00 R84843 $55,770.00 R98641 $713,858.00 R171483 $665,896.00 R67687 $0.00 R98639 $3,796,833.00 R307362 $2,902,002.00 R307365 $3,647,928.00 R171478 $7,314,260.00 R313722 $0.00 R313723 $0.00 Total $27,500,000.00 Tax Parcel Assessment Assessment Roll The highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Annual Installment Per Lot Annual Principal Collection All Parcels $27,500,000.00 Year and Interest Costs Total 1 $2,132,586.91 $40,000.03 $2,172,586.88 2 $2,164,575.71 $40,600.03 $2,205,175.74 3 $2,197,044.35 $41,209.03 $2,238,253.38 4 $2,230,000.01 $41,827.I7 $2,271,827.18 5 $2,263,450.01 $42,454.57 $2,305,904.59 6 $2,297,401.77 $43,091.39 $2,340,493.16 7 $2,331,862.79 $43,737.76 $2,375,600.55 8 $2,366,840.73 $44,393.83 $2,411,234.56 9 $2,402,343.34 $45,059.74 $2,447,403.08 10 $2,438,378.49 $45,735.63 $2,484,114.13 11 $2,474,954.17 $46,421.67 $2,521,375.84 12 $2,512,078.48 $47,117.99 $2,559,196.48 13 $2,549,759.66 $47,824.76 $2,597,584.42 14 $2,588,006.06 $48,542.13 $2,636,548.19 15 $2,626,826.15 $49,270.27 $2,676,096.41 16 $2,666,228.54 $50,009.32 $2,716,237.86 17 $2,706,221.97 $50,759.46 $2,756,981.43 18 $2,746,815.30 $51,520.85 $2,798,336.15 19 $2,788,017.53 $52,293.66 $2,840,311.19 20 $2,829,837.79 $53,078,07 $2,882,915.86 21 $2,872,285.36 $53,874.24 $2,926,159.60 22 $2,915,369.64 $54,682.35 $2,970,051.99 23 $2,959,100.18 $55,502.59 $3,014,602.77 24 $3,003,486.68 $56,335.13 $3,059,821,81 25 $3,048,538.98 $57,180.16 $3,105,719.14 26 $3,094,267.07 $58,037.86 $3,152,304.93 27 $3,140,681.08 $58,908.43 $3,199,589.50 28 $3,187,791.29 $59,792.05 $3,247,583.34 29 $3,235,608.16 $60,688.93 $3,296,297.09 30 $3,284,142.28 $61,599.27 $3,345,741.55 Total $80,054,500.50 $1,501,548.38 $81,556,048.82 Tax Parcel Assessment Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Annual Installment Per Lot R305643 $1,646,614,00 Annual Principal Collection Year and Interest Costs Total 1 $127,692.62 $2,395.07 $130,087.70 2 $129,608.01 $2,431.00 $132,039.01 3 $131,552.13 $2,467.46 $134,019.59 4 $133,525.41 $2,504.47 $136,029.88 5 $135,528.29 $2,542.04 $138,070.33 6 $137,561.22 $2,580.17 $140,141.39 7 $139,624.64 $2,618.87 $142,243.51 8 $141,719.00 $2,658.16 $144,377.16 9 $143,844.79 $2,698.03 $146,542.82 10 $146,002.46 $2,738.50 $148,740.96 11 $148,192.50 $2,779.58 $150,972.08 12 $150,415.39 $2,821.27 $153,236.66 13 $152,671.62 $2,863.59 $155,535.21 14 $154,961.69 $2,906.54 $157,868.23 15 $157,286.12 $2,950.14 $160,236.26 16 $159,645.41 $2,994.39 $162,639.80 17 $162,040.09 $3,039.31 $165,079.40 18 $164,470.69 $3,084.90 $167,555.59 19 $166,937.75 $3,131.17 $170,068.92 20 $169,441.82 $3,178.14 $172,619,96 21 $171,983.44 $3,225.81 $175,209.26 22 $174,563.20 $3,274.20 $177,837.40 23 $177,181.64 $3,323.31 $180,504.96 24 $179,839.37 $3,373.16 $183,212.53 25 $182,536.96 $3,423.76 $185,960.72 26 $185,275.01 $3,475.12 $188,750.13 27 $188,054.14 $3,527.24 $191,581.38 28 $190,874.95 $3,580.15 $194,455.10 29 $193,738.08 $3,633.85 $197,371.93 30 $196,644.15 $3,688.36 $200,332.51 Total $4,793,412.57 $89,907.77 $4,883,320.35 Assessment Roll The Highlands at Trophy Club Public improvement District Town of Trophy Club, Texas Tax Parcel R73937 Assessment $1,150,817.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $89,244.26 $1,673.92 S90,918.17 2 $90.582.92 $1,699.03 $92,281,95 3 $91,941.67 $1,724.51 $93,666.18 4 $93,320,79 $1,750.38 S95,071.17 5 S94,720.60 $1,776.64 $96,497.24 6 $96,141.41 $1,803.29 $97,944.70 7 $97,583.53 $1,830.34 $99,413.87 8 $99,047.29 $1,857.79 $100,905.08 9 $100,533.00 $1,885.66 $102,418.66 10 $102,040.99 $1,913.94 $103,954.94 11 $103,571.61 $1,942.65 $105,314.26 12 $105,125.18 $1,971.79 $107,096.97 13 $106,702.06 S2,001.37 $108,703.43 14 $108,302.59 $2,031.39 $110,333.99 15 $109,927.13 $2,061.86 $111,988.99 16 $111,576.04 $2,092.79 $113,668.82 17 $113,249.68 $2,124.18 S115,373.86 18 S114,949.42 $2,156.04 $117,104.46 19 $116,672,65 $2,188.38 $118,861.03 20 $118,422.74 $2,221.21 $120,643.95 21 $120,199.08 $2,254.53 $122,453.61 22 $122,002.06 $2,288.35 $124,290.41 23 $123,832,10 $2,322.67 $126,154.77 24 $125,689.58 $2,357.51 $128,047.09 25 $127,574.92 $2,392.87 $129,967.79 26 $129,488.54 S2,428.77 $131,917.31 27 $131,430.87 S2,465.20 $133,896.07 28 $133,402.34 $2,502.18 $135,904.51 29 $135,403.37 S2,539.71 $137,943.08 30 S137,434.42 $2,577.80 $140,012.23 Total $3,350,111.84 $62,836.75 $3,412,948.58 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R133131 $21,193.00 Year Principal and Interest Annual Installment Per Lot Annual Collection Costs Total 1 $1,643.49 $30.83 $1,674.31 2 $1,668,14 $31.29 $1,699.43 3 $1,693.16 $31.76 $1,724.93 4 $1,718.56 $32.24 S1,750.80 5 S1,744.34 S32.72 $1,777.06 6 SI,770.51 $33.21 $1,803.72 7 $1,797.06 $33.71 $1,830.77 8 $1,824.02 S34.22 $1,859.24 9 $1,851,38 S34.73 $1,886.11 10 S1,879.15 S35.25 $1,914.40 11 $1,907.34 S35.78 $1,943.12 12 $1,935.95 $36.32 $1,972.26 13 $1,964.99 $36.86 $2,001.85 14 $1,994.46 $37.41 $2,031.88 15 S2,024.38 $37.98 $2,062.35 16 $2,054.74 $38.54 $2,093.29 17 $2,085.57 $39.12 $2,124.69 18 S2,116.85 $39.71 $2,156.56 19 S2,148.60 $40.31 $2,198.91 20 S2,180.83 $40.91 $2,221.74 21 $2,2I3.54 S41.52 $2,255.07 22 $2,246.75 $42.15 $2,288.89 23 $2,280.45 $42.78 $2,323.23 24 $2,314.65 $43.42 S2,358.07 25 S2,34937 $44.07 S2,393.45 26 $2,384.61 $44.73 $2,429.35 27 $2,420.38 $45.40 $2,465.79 28 $2,456.69 S46.08 $2,502.77 29 $2,493.54 S46.78 $2,540.32 30 $2,530.94 $47.48 $2,578.42 Total $61,694.45 $1,157,32 $62,851.75 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R171502 Assessment $21,193.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 SI,643.49 $30.83 $1,674.31 2 $1,668.14 S31.29 $1,699.43 3 S1,693.16 $31,76 $1,724.93 4 $1,718.56 S32.24 $1,750.80 5 $1,744.34 $32.72 $1,777.06 6 $1,770.51 $33.21 $1,803.72 7 $1,797.06 $33.71 $1,830.77 8 S1,824.02 $34.22 $1,858.24 9 S1,851.38 $34.73 $1,886,11 10 S1,879.15 $35.25 $1,914.40 11 $1,907.34 $35.78 $1,943.12 12 $1,935.95 $36.32 $1,972.26 13 $1,964.99 $36.86 $2,001.85 14 $1,994.46 $37.41 $2,031.88 15 $2,024.38 $37.98 $2,062.35 16 $2,054.74 $38.54 $2,093.29 17 $2,085.57 S39.12 $2,124.69 18 $2,116.85 $39.71 $2,156.56 19 $2,148.60 S40.31 $2,188.91 20 $2,180.83 $40.91 $2,221.74 21 $2,213.54 $41.52 $2,255.07 22 S2,246.75 $42.15 $2,288.89 23 $2,280.45 $42.78 $2,323.23 24 $2,314.65 S43.42 $2,358.07 25 $2,349.37 S44.07 $2,393.45 26 $2,384.61 $44.73 $2,429.35 27 $2,420.38 $45.40 $2,465.79 28 $2,456.69 $46.08 S2,502.77 29 $2,493.54 $46.78 $2,540.32 30 $2,530.94 $47.48 S2,578.42 T_._, e41 Aondc Rt_157.32 $62,851.75 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R312617 Assessment $254,312.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $19,721.54 $369.91 $20,091.45 2 $20,017.36 $375.46 $20,392.82 3 $20,317.62 $381.09 $20,698.71 4 $20,622.39 $386.81 $21,009.19 5 $20,931.72 $392.61 $21,324.33 6 $21,245.70 $398.50 S21,644.20 7 $21,564.39 $404.48 S21,968.86 8 S21,887.85 $410.54 S22,298.39 9 $22,216.17 $416.70 $22,632.87 10 $22,549.41 $422.95 $22,972.36 11 $22,887.65 $429.30 $23,316.95 12 $23,230.97 $435.74 $23,666.70 13 $23,579.43 $442.27 $24,021.70 14 $23,933.12 $448.91 $24,382.03 15 $24,292.12 $455.64 $24,747.76 16 $24,656.50 $462.47 $25,118.98 17 $25,026.35 $469.41 $25,495.76 18 $25,401.74 $476AS $25,878.20 19 $25,782.77 S483.60 $26,266.37 20 $26,169.51 S490.85 S26,660.36 21 $26,562.05 S498.22 $27,060.27 22 $26,960.49 $505.69 $27,466.17 23 $27,364.89 $513.27 $27,878.17 24 $27,775.37 $520.97 S28,296.34 25 $28,192.00 $528.79 $28,720.78 26 $28,614.88 $536.72 $29,151.60 27 $29,044.10 $544.77 $29,588.87 28 $29,479.76 $552.94 $30,032.70 29 $29,921.96 $561.24 $30,483.19 30 $30,370.79 $569.65 $30,940.44 Total S740,320.61 $13,885.93 $754,206.54 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R312619 $932,478.00 Year Principal and Interest Annual Installment Per Lot Annual Collection Costs Total 1 $72,31237 $1,356.33 $73,668.70 2 $73,397.06 $1,376.67 $74,773.73 3 $74,498.01 $1,397.33 $75,895.34 4 $75,615.48 $1,418.29 $77,033.77 5 $76,749.71 $1,439,56 $78,189.27 6 $77,900.96 $1,461.15 $79,362.11 7 $79,069.47 $1,483.07 $80,552.54 8 $80,255.52 $1,505.32 $81,760.83 9 $81,459.35 $1,527.90 $82,987.24 10 $82,681.24 $1,550.81 $84,232.05 11 $83,921.46 $1,574.08 $85,495.53 12 $85,180.28 $1,597.69 $86,777.97 13 $86,457.98 $1,621.65 $88,079.64 14 $87,754.85 $1,645.98 $89,400.83 15 $89,071.18 $1,670.67 $90,741.84 16 $90,407.24 $1,695.73 $92,102.97 17 $91,763.35 $1,721.16 $93,494.52 18 $93,139.80 $1,746.99 $94,886.78 19 $94,536.90 $1,773.19 $96,310,09 20 $95,954,95 $1,799.78 $97,754.74 21 $97,394,28 $1,826.78 $99,221.06 22 $98,855.19 $1,854.18 $100,709.37 23 $100,338.02 $1,881.99 $102,220.01 24 $101,843.09 $1,910.22 $103,753.31 25 $103,370.74 $1,938.88 $105,309.61 26 $104,921.30 $1,967.96 $106,889.26 27 $106,495.12 $1,997.48 $108,492.60 28 $108,092.54 $2,027.44 $110,119.99 29 $109,713.93 $2,057.85 $111,771.79 30 $111,359.64 $2,088.72 $113,448.36 Tnial $2.714,511.02 $50,914.84 $2,765,425.86 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R312675 $197,427.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $15,310.19 $287.17 $15,597.36 2 $15,539.84 $291.48 $15,831.32 3 $15,772.94 $295.85 $16,069.79 4 $16,009.53 $300.29 $16,309.82 5 $16,249.68 $304.79 $16,554.47 6 $16,493.42 $309.36 $16,802.79 7 $16,740.82 S314.00 $17,054.83 8 $16,991.94 $318.71 S17,3I0.65 9 $17,246.82 S323.49 $17,570.31 10 $17,505.52 $328.35 $17,833.87 11 $17,768.10 $333.27 $18,101.37 12 $18,034.62 S338.27 $18,372.89 13 $18,305.14 S343.35 $18,643.49 14 $18,579.72 $348.50 $18,928.21 15 $18,858.41 $353.72 $19,212.14 16 $19,141.29 $359.03 $19,500.32 17 $19,428.41 $364.41 $19,792.82 18 $19,719.84 $369.88 S20,089.72 19 $20,015.63 $375.43 $20,391.06 20 $20,315.87 $381.06 $20,696.93 21 $20,620.61 $386.78 $21,007.39 22 $20,929.92 $392.58 $21,322.49 23 $21,243.86 $398.47 $21,642.33 24 $21,562.52 $404.44 $21,966.97 25 $21,835.96 $410.51 $22,296.47 26 $22,214.25 $416.67 $22,630.92 27 $22,547.46 $422.92 $22,970.38 28 $22,885.67 $429.26 S23,314.94 29 $23,228.96 $435.70 $23,664.66 30 $23,577.39 $442.24 $24,019.63 Total $574,724.34 $10,779.98 $585,504.33 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R313701 Assessment $21,193.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $1,643.49 $30.83 $1,674.31 2 $1,668.14 $31.29 $1,699.43 3 $1,693.16 $31.76 $1,724,93 4 $1,718.56 $32.24 $1,750.80 5 $1,744.34 $32.72 $1,777.06 6 $1,770.51 $33.21 $1,803.72 7 $1,797.06 $33.71 $1,830.77 8 $1,824.02 $34.22 $1,858.24 9 $1,851.38 $34.73 $1,886.11 10 $1,879.15 $35.25 $1,9I4.40 11 $1,907.34 $35.78 $1,943.12 12 $1,935.95 $36.32 $1,972.26 13 $1,964.99 $36.86 $2,001.85 14 $1,994.46 $37.41 $2,031.88 15 $2,024.38 $37.98 $2,062.35 16 $2,054.74 $38,54 $2,093.29 17 $2,085.57 $39.12 $2,124.69 18 $2,116.85 $39.71 $2,156.56 19 $2,148.60 $40.31 $2,188.91 20 $2,180.83 $40.91 $2,221.74 21 $2,213,54 $41.52 $2,255.07 22 $2,246.75 $42.15 $2,288.89 23 $2,280.45 $42.78 $2,323.2.3 24 $2,314.65 $43.42 $2,358.07 25 $2,349.37 $44.07 $2,393.45 26 $2,384.61 $44.73 $2,429.35 27 $2,420.38 $45.40 $2,465.79 28 $2,456.69 $46.08 $2,502.77 29 $2,493.54 $46.78 $2,540.32 30 $2,530.94 $47.48 $2,578.42 Total $61,694.45 $1,157.32 $62,851.75 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R313702 Assessment $0.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 S0.00 $0.00 $0.00 2 S0.00 $0.00 So.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 $0.00 6 S0.00 $0.00 $0.00 7 S0.00 $0.00 S0.00 8 S0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 S0.00 $0.00 $0.00 11 $0.00 $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $D.00 $0.00 $0.00 14 SO.00 $0.00 $0.00 15 S0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 S0.0D $0.00 $0.00 18 S0.00 $0.00 $0.00 19 S0.00 $0.00 $0.00 20 S0.00 $0.00 $0.00 21 S0.00 $0.00 $0.00 22 S0.00 $0.00 $0.00 23 S0.00 $0.00 $0.00 24 S0.00 WOO $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Tax Parcel Assessment Year 2 3 4 5 6 7 8 9 IO 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas R313706 $63,578.00 Annual Installment Per Lot Annual Principal Collection and Interest Costs Total $4,930.39 $92.48 $5,022.86 $5,00435 $93.87 $5,098.21 $5,079.41 $95.28 $5,174.69 $5,155,60 $96.70 $5,252.31 $5,232.94 $98.15 $5,331.09 $5,311.43 $99.63 $5,411.06 $5,391.10 $101.12 $5,492.22 $5,471.97 $102.64 $5,574.61 $5,554.05 $104.18 $5,658.23 $5,637.36 $105.74 $5,743.10 $5,721.92 $107.33 $5,829,25 $5,807.75 $108.94 $5,916.68 $5,894.86 $110.57 $6,005,43 $5,983.29 $112.23 $6,095.52 $6,073.04 $113.91 $6,186.95 $6,164.13 $115.62 $6,279.75 $6 256.59 $117.36 $6,373.95 $6,350.44 $119.12 $6,469.56 $6,445,70 $120.90 $6,566.60 $6,542.39 $122.72 $6,665.10 $6,640.52 $124.56 $6,765.08 $6,740.13 $126.43 $6,866.55 $6,841.23 $128,32 $6,969.55 $6,943.85 $130.25 $7,074.10 $7,048.01 $132.20 $7,180.21 $7,153.73 $134.18 $7,287.91 $7,261.03 $136.20 $7,397.23 $7,369.95 $138.24 $7,508.19 $7,480.50 $140.31 $7,620.81 $7,592.70 $142.42 $7,735.12 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel 11313711 Assessment $84,771.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $6,573.87 $123.30 $6,697.18 2 $6,672.48 $125.15 $6,797.63 3 $6,772.57 $127.03 $6,899.59 4 $6,874.15 $128.93 $7,003.09 5 $6,977.27 $130.87 $7,108.13 6 $7,081.92 $132.83 $7,214.75 7 $7,188.15 $134.82 $7,322.98 8 $7,295.98 $136.84 $7,432.82 9 $7,405.42 $138.90 $7,544.31 10 $7,516.50 $140.98 $7,657.48 11 $7,629.24 $ I43.09 $7,772.34 12 $7,743.68 $145.24 $7,888.92 13 $7,859.84 $147.42 $8,007.26 14 $7,977.74 $149.63 $8,127.37 15 $8,097.40 $151.88 $8,249.28 16 $8,218.86 $154.15 $8,373.02 17 $8,342.15 $156.47 $9,498.61 18 $8,467.28 $158.81 $8,626.09 19 $8,594.29 $161.20 $8,755.48 20 $8,723.20 $163.61 $8,886.81 21 $8,854.05 $166.07 $9,020.12 22 $8,986.86 $168.56 $9,155.42 23 $9,121.66 $171.09 $9,292.75 24 $9,258.49 $173.65 $9,432.14 25 $9,397.37 $176.26 $9,573.62 26 $9,538.33 $178.90 $9,717.23 27 $9,681.40 $181.59 $9,862.99 28 $9,826.62 $194.31 $10,010.93 29 $9,974.02 $187.07 $10,161.09 30 $10,123.63 $189.88 $10,313.51 $25 Tax Parcel Assessment Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Annual Installment Per Lot R313720 $63,578.00 Annual Principal Collection Year and Interest Costs Total 1 $4,930.39 $92.48 $5,022.86 2 $5,004.35 $93.87 $5,098.21 3 $5,079.41 $95.28 $5,174.69 4 $5,155.60 $96.70 $5,252.31 5 $5,232.94 $98.15 $5,331.09 6 $5,311.43 $99.63 $5,411.06 7 $5,391.10 $101.12 $5,492.22 8 $5,471.97 $102.64 $5,574.61 9 $5,554.05 $104.18 $5,658.23 10 $5,637.36 $105.74 $5,743.10 11 $5,721.92 $107.33 $5,829.25 12 $5,807.75 $108.94 $5,916.68 13 $5,894.86 $110.57 $6,005.43 14 $5,983.29 $112.23 $6,095.52 15 $6,073.04 $113.91 $6,186.95 16 $6,164.13 $115.62 $6,279.75 17 $6,256.59 $117.36 $6,373.95 18 $6,350.44 $119.12 $6,469.56 19 $6,445.70 $120.90 $6,566.60 20 $6,542.38 $122.72 $6,665.10 21 $6,640.52 $124.56 $6,765.08 22 $6,740.13 $126.43 $6,866.55 23 $6,94123 $128.32 $6,969.55 24 $6,943.85 $130.25 $7,074.10 25 $7,048.01 $132.20 $7,180.21 26 $7,153.73 $134.18 $7,287.91 27 $7,261.03 $136.20 $7,397.23 28 $7,369.95 $138.24 $7,508.19 29 $7,480.50 $140.31 $7,620.81 30 $7,592.70 $142.42 $7,735.12 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R68393 Assessment WOO Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $0.00 $0.00 MOO 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 SO.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 MOO $0.00 10 $0.00 $0.00 $0.00 11 $0.00 $0.00 MOO 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 SO.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.00 $0.00 18 $0.00 SO.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 SO.00 $0.00 21 SO.00 $0.00 SO.00 22 SO.00 SO.00 SO.00 23 SO.00 $0.00 SO.00 24 SO.00 SO.00 SO.00 25 $0.00 $0.00 SO.00 26 $0.00 $0.00 $0.00 27 50.00 $0.00 $0.00 28 $0.00 $0.00 SO.00 29 SO.00 $0.00 SO.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R171480 Assessment $722,782.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $56,050.74 $1,051.32 $57,102.06 2 $56,891.50 $1,067.09 $57,958.59 3 $57,744.87 $1,083.10 $58,827.97 4 $58,611.05 $1,099.34 $59,710.39 5 $59,490.21 $1,115.83 $60,606.05 6 $60,382.57 $1,132.57 $61,515.14 7 $61,288.30 $1,149.56 $62,437.86 8 $62,20T63 $1,166.90 $63,374.43 9 $63,140.74 $1,184.30 $64,325,05 10 $64,087.85 $1,202.07 $65,289.92 11 $65,049.17 $1,220.10 $66,269.27 12 $66,024.91 $1,238.40 $67,263.31 13 $67,015.28 $1,256.98 $68,272.26 14 $68,020.51 $1,275.83 $69,296.34 15 $69,040.82 $1,294.97 $70,335.79 16 $70,076.43 $1,314.39 $71,390.83 17 $71,127.58 $1,334.11 $72,461.69 18 $72,194,49 $1,354.12 $73,548.61 19 $73,277.41 $1,374.43 $74,651.84 20 $74,376.57 $1,395.05 $75,771.62 21 $75,492.22 $1,415.98 $76,908.20 22 $76,624.60 $1,437.22 $78,061.82 23 $77,773.97 $1,458.77 $79,232.75 24 $78,940.58 $1,480.66 $80,421.24 25 $80,124.69 $1,502.86 $81,627.56 26 $81,326,56 $1,525,41 $82,851.97 27 $82,546.46 $1,549.29 $84,094.75 28 $83,784.66 $1,571.51 $85,356.17 29 $85,041.43 $1,595.09 $86,636.51 30 $86,317.05 $1,619.01 $87,936.06 Total $2,104,070.87 $39,465.17 $2,143,536.04 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Pa reel R 171482 Assessment $0.00 Annual Installment Per Lot Principal Collection Year and Interest Costs Total 1 $0.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $0.00 $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 $0.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.06 $0.00 18 $0.00 $0.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 $0.00 $0.00 21 $0.00 $0.00 $0.00 22 $0.00 $0.00 $0.00 23 $0.00 $0.00 $0.00 24 $0.00 $0.00 $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R171494 Assessment $0.00 Annual Installment Per Lot Principal Collection Year and Interest Costs Total I S0.00 $0.00 $0.00 2 S0.00 $0.00 S0.00 3 $0.00 $0.00 S0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 S0.00 6 $0.00 $0.00 $0.00 7 S0.00 $0.00 $0.00 8 $0.00 $0.00 S0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $0.00 S0.00 $0.00 12 $0.00 $0.00 $0.00 13 S0.00 $0.00 S0.00 14 $0.00 $0.00 S0.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 S0.00 17 S0.00 $0.00 $0.00 18 S0.00 $0.00 $0.00 19 $0.00 $0.00 S0.00 20 $0.00 $0.00 $0.00 21 S0.00 $0.00 S0.00 22 S0.00 $0.00 S0.00 23 S0.00 $0.00 $0.00 24 $0.00 $0.00 S0.00 25 $0.00 $0.00 $0.00 26 $0.00 S0.00 S0.00 27 $0.00 $0.00 $0.00 28 S0.00 $0.00 $0.00 29 $0.00 $0.00 S0.00 30 $0.00 $0.00 $0.00 S0.00 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R171503 $1,206,867,00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $93,590.86 $1,755.44 $95,346.30 2 $94,994.72 $1,781.77 $96,776.49 3 $96,419.64 $1,808.50 $98,228.14 4 $97,863.94 $1,835.63 $99,701.56 5 $99,333.93 $1,863.I6 $101,197.09 6 $100,823.94 $1,891.11 $102,715,04 7 $102,336.30 $1,919.47 $104,255.77 8 $103,871,34 S1,948.27 $105,819.61 9 $105,429.41 $1,977.49 $107,406.90 10 $107,010,85 $2,007.15 $109,018.00 11 $108,616.01 $2,037.26 $110,653.27 12 $110,245.25 $2,067.82 $112,313.07 13 $111,898.93 $2,098.94 $113,997.77 14 $113,577.42 S2,130.32 $115,707.74 15 $115,281.08 $2,162.27 $117,443.35 16 $117,010.29 $2,194.71 $119,205.00 17 $118,765.45 $2,227.63 $120,993.08 18 $120,546.93 $2,261.04 $122,807.97 19 $122,355.13 S2,294.96 $124,650.09 20 $124,190.46 S2,329.38 $126,519.84 21 $126,053.32 $2,364.32 $128,417.64 22 $127,944.12 $2,399,79 $130,343.91 23 $129,863.28 $2,435.78 $132,299.06 24 $131,811.23 $2,472.32 $134,283.55 25 $133,788.40 $2,509.41 $136297.80 26 S135,795.22 $2,547.05 $138,342.27 27 $137,832.15 $2,585.25 $140,417.41 28 $139,899.63 $2,624.03 $142,523.67 29 $141,998.13 $2,663.39 S144,661.52 30 $144,128.10 $2,703.34 $146,831.44 Total $3,513,277.47 $65,896.90 S3,579,174.38 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R312605 Assessment $1,370,831.00 Annual installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $106,306.04 $1,993.94 $108,299.97 2 $107,900.63 $2,023.85 $109,924.48 3 $109,519.14 $2,054.21 $111,573.35 4 $111,161.93 $2,085.02 $113,246.95 5 $112,829.36 $2,116.30 $114,945.65 6 $114,521.80 $2,148.04 $116,669.84 7 $116,239.62 $2,180.26 $118,419.88 8 $117,983.22 $2,212.96 $120,196.18 9 $119,752.97 $2,246.16 $121,999.12 t0 $121,549.26 $2,279.85 $123,829.11 11 $123,372.50 $2,314.05 $125,686.55 12 $125,223.09 $2,348.76 $127,571.85 13 $127,101.43 S2,383.99 S129,485A2 14 $129,007.95 $2,419.75 S131,427.71 15 $130,943.07 $2,456.05 $133,399.12 16 $132,907.22 $2,492.89 S135,400.11 17 $134,900.83 $2,530.28 $137,431.11 18 S136,924.34 $2,568.24 $139,492.58 19 S138,978.21 $2,606.76 $141,584.96 20 $141,062,88 $2,645.86 $143,709.74 21 $143,178.82 $2,685.55 $145,864.37 22 S145,326.50 $2,725.83 $148,052.34 23 $147,506.40 $2,766.72 $150,273.12 24 $149,719.00 $2,808.22 $152,527.22 25 $151,964.78 $2,850.34 $154,815.13 26 $154,244.25 $2,893.10 $157,137.35 27 $156,557.92 $2,936.49 $159,494.41 28 $158,906.29 $2,980.54 $161,886.83 29 $161,289.88 $3,025.25 S164,315.13 30 $163,709.23 S3,070.63 $166,779.86 Tax Parcel Assessment Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Annual Installment Per Lot R312606 $645,819.00 Year Principal and Interest Collection Costs Total 1 $50,082,36 $939.37 $51,021.74 2 $50,833.60 $953.46 $51,787.06 3 $51,596.10 $967.76 $52,563.86 4 $52,370.04 $982.28 $53,352.32 5 $53,155.59 $997.01 $54,152.60 6 $53,952.93 $1,011.97 $54,964.89 7 $54,762.22 $1,027.15 $55,799.37 8 $55,583.65 $1,042.56 $56,626.21 9 $56,417.41 $1,058.19 $57,475.60 10 $57,263.67 $1,074.07 $58,337.73 11 $58,122.62 $1,090.18 $59,212.80 12 $58,994.46 $1,106.53 $60,100.99 13 $59,879.38 $1,123.13 $61,002.51 14 $60,777.57 $1,139.97 $61,917.55 15 $61,689.23 $1,157.07 $62,846.31 16 $62,614,57 $1,174.43 $63,789.00 17 $63,553.79 $1,192.05 $64,745.84 18 $64,507.10 $1,209.93 $65,717.03 19 $65,474.70 $1,228.09 $66,702.78 20 $66,456.82 $1,246.50 $67,703.32 21 $67,453.68 $1,265.20 $68,718.87 22 $68,465.48 $1,284.17 $69,749.66 23 $69,492.46 $1,303.44 $70,795.90 24 $70,534.85 $1,322.99 $71,857.84 25 $71,592.87 $1,342.83 $72,935.71 26 $72,666.77 $1,362.97 $74,029.74 27 $73,756.77 $1,383.42 $75,140.19 28 $74,863.12 $1,404.17 $76,267.29 29 $75,986.07 $1,425.23 $77,411.30 30 $77,125.86 $1,446.61 $78,572.47 Total $1,880,025.75 $35,262.71 $1,915,288.48 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R312607 Assessment $0.00 Annual Installment Per Lot Annual Principal Collection Year and interest Costs Total 1 $0.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $0.00 $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 $0.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.00 $0.00 18 $0.00 $0.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 $0.00 $0.00 21 $0.00 $0.00 $0.00 22 $0.00 $0.00 $0.00 23 $0.00 $0.00 $0.00 24 $0.00 $0.00 $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Assessment Roll The highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R84843 $55,770.00 Year Principal and Interest Annual Installment Per Lot Annual Collection Costs Total 1 $4,324.89 $81.12 $4,406.01 2 $4,389.76 $82.34 $4,472.10 3 $4,455,61 $83.57 $4,539.18 4 $4,522.44 $84.83 $4,607.27 5 $4,590.28 $86.10 $4,676.38 6 $4,659.13 $87.39 $4,746.52 7 $4,729.02 $88.70 $4,817.72 8 $4,799.96 $90.03 $4,889.99 9 $4,871.96 $91.38 $4,963.34 10 $4,945.04 $92.75 $5,037.79 11 $5,019.21 $94.14 $5,113.35 12 $5,094.50 $95.56 $5,190.05 13 $5,170.92 $96.99 $5,267.91 14 $5,248.48 $98.44 $5,346.92 15 $5,327,21 $99.92 $5,427.13 16 $5,407.12 $101.42 $5,508.53 17 $5,499.22 $102.94 $5,591.16 18 $5,570.55 $104.48 $5,675.03 19 $5,654.10 $106.05 $5,760.16 20 $5,738.92 $107.64 $5,846.56 21 $5,825.00 $109.26 $5,934.26 22 $5,912.37 $110.90 $6,023.27 23 $6,001.06 $112.56 $6,113.62 24 $6,091.08 $114.25 $6,205.32 25 $6,182.44 $115.96 $6,298.40 26 $6,275.18 $I17.70 $6,392.88 27 $6,369.31 $119A7 $6,488.77 28 $6,464.85 $121.26 $6,586.10 29 $6,561.82 $123.08 $6,684.90 30 $6,660.25 $124.92 $6,785.17 Total $162,350,67 $3,045.14 $165,395.81 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R98641 Assessment $713,858.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $55,358.69 $1,03834 $56,397.03 2 $56,189.07 $1,053,92 $57,242.99 3 $57,031.91 $1,069.72 $58,101.63 4 $57,887.39 $1,085.77 $58,973.15 5 $58,755.70 $1,102.06 $59,857.75 6 $59,637.03 $1,118.59 $60,755.62 7 $60,531.59 $1,135.37 $61,666.95 8 $61,439.56 $1,152.40 $62,591.96 9 $62,361.15 $1,169.68 $63,530.84 10 $63,296.57 $1,187.23 $64,483.80 11 $64,246.02 $1,205.04 $65,451.06 12 $65,209.71 $1,223.11 $66,432.82 13 $66,187.86 $1,241.46 $67,429.31 14 $67,180.67 $I,260.08 $68,440.75 15 $68,188,38 $1,278.98 $69,467.36 16 $69,211.21 $1,298.17 $70,509.39 17 $70,249.38 $1,317.64 $71,567.02 18 $71,303.12 $1,337.40 $72,640.52 19 $72,372.66 $1,357.46 $73,730.13 20 $73,458.25 $1,377.83 $74,836.08 21 $74,560.13 $1,398.49 $75,958.62 22 $75,678.53 $1,419.47 $77,098.00 23 $76,813.71 $1,440.76 $78,254.47 24 $77,965.91 $1,462.37 $79,428.29 25 $79,135.40 $1,484.31 $80,619.71 26 $80,322.43 $1,506.57 $81,829.01 27 $81,527.27 $1,529.17 $83,056.44 28 $82,750.18 $1,552.11 $84,302,29 29 $83,991.43 $1,575.39 $85,566.82 30 $85,251.30 $1,599.02 S86,850.33 Total $2,078.092.22 $38,977.91 $2,117,070.14 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R171483 $665,896.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 2 $52,413.90 $983.11 $53,397.01 3 $53,200.11 $997.86 $54,197.96 4 $53,998.11 $1,012.82 $55,010.93 5 $54,808.08 $1,028.02 $55,836.10 6 $55,630.20 $1,043.44 $56,673.64 7 $56,464.66 $1,059.09 $57,523.74 8 $57,311.63 $1,074.97 $58,386.60 9 $58,17130 $1,091.10 $59,262,40 10 $59,043.87 $1,107.46 $60,151.33 11 $59,929.53 $1,124.08 $61,053.60 12 $60,829.47 $1,140.94 $61,969.41 13 $61,740.90 $1,158.05 $62,898.95 14 $62,667.01 $1,175.42 $63,842.43 15 $63,607.02 $1,193.05 $64,800.07 16 $64,561.12 $1,210.95 $65,772.07 17 $65,529.54 $1,229.11 $66,758.65 18 $66,512.48 $1,247.55 $67,760.03 19 $67,510.17 $1,266.26 $68,776.43 20 $68,522.82 $1,285.26 $69,808.08 21 $69,550.66 $1,304.54 $70,855.20 22 $70,593.92 $1,324.10 $71,918.03 23 $71,652.83 $1,343.97 $72,996.80 24 $72,727.62 $1,364.13 $74,091.75 25 $73,818.54 $1,384.59 $75,203.13 26 $74,925.82 $1,405.36 $76,331.17 27 $76,049.70 $1,426.44 $77,476.14 28 $77,190.45 $1,447.83 $78,638.28 29 $78,348.31 $1,469.55 $79,817,86 30 $79,523.53 $1,491.59 $81,015.13 Total $1,938,471.60 $36,359.22 $1,974,830.91 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R67687 Assessment $0.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 30.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $0.00 $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 $0.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.00 $0.00 18 $0.00 $0.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 $0.00 $0.00 21 $0.00 $0.00 $0.00 22 $0.00 $0.00 $0.00 23 $0.00 $0.00 $0.00 24 $0.00 $0.00 $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R98639 Assessment $3,796,833.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total I $294,439.12 $5,522.67 $299,961.78 2 $298,855,71 $5,605.51 $304,461.22 3 $303,338.54 $5,699.59 $309,028.14 4 $307,888.62 $5,774.94 $313,663.56 5 $312,506.95 $5,861.56 $318,368.51 6 $317,194,55 $5,949.48 $323,144.04 7 $321,952.47 $6,038.73 $327,991.20 8 $326,781.76 $6,129.31 $332,911.07 9 $331,683.49 $6,221.25 $337,904.73 10 $336,658.74 $6,314.57 $342,973.30 11 $341,708.62 $6,409.29 $348,117.90 12 $346,834.25 $6,505.42 $353,339.67 13 $352,036,76 $6,603.00 $358,639.77 14 $357,317.31 $6,702.05 $364,019.36 15 $362,677.07 $6,802.58 $369,479.65 16 $368,117.23 $6,904.62 $375,021.85 17 $373,638.99 $7,008.19 $380,647.18 18 $379,243.57 $7,113.31 $386,356.88 19 $384,932.23 $7,220.01 $392,152.24 20 $390,706.21 $7,328.31 $398,034.52 21 $396,566.80 $7,438.24 $404,005.04 22 $402,515.30 $7,549.81 $410,065.11 23 $408,553.03 $7,663.06 $416,216.09 24 $414,681.33 $7,778.00 $422,459.33 25 $420,901.55 $7,894.67 $428,796.22 26 $427,215.07 $8,013.09 $435,228.17 27 $433,623.30 $8,133.29 $441,756.59 28 $440,127.65 $8,255.29 $448,382.94 29 $446,729.56 $8,379.12 $455,108.68 30 $453.430.51 $8.504.80 $461.935.31 $11,260,170.05 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R307362 Assessment $2,902,002.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $225,046.22 $4,221.09 $229,267.31 2 $228,421.91 $4,284.41 $232,706.32 3 $231,848.24 $4,348.67 $236,196.91 4 $235,325.97 $4,413.90 $239,739.87 5 $238,855.86 $4,480.11 $243,335.97 6 $242,438.69 $4,547.31 $246,986.01 7 $246,075.27 $4,615.52 $250,690.80 8 $249,766.40 $4,684.76 $254,451.16 9 $253,512.90 $4,755.03 $258,267.93 10 $257,315.59 $4,826.35 $262,141.94 1l $261,175.33 $4,898.75 $266,074.07 12 $265,092.96 $4,972.23 $270,065.18 13 $269,069.35 $5,046.81 $274,116.16 14 $273,105.39 $5,122.51 $278,227.90 15 $277,201.97 $5,199.35 $282,401.32 16 $281,360.00 $5,277.34 $286,637.34 17 $285,580.40 $5,356.50 $290,936.90 18 $289,864.11 $5,436.85 $295,300.96 19 $294,212.07 $5,518.40 $299,730.47 20 $298,625.25 $5,601.18 $304,226.43 21 $303,104.63 $5,685.20 $308,789.82 22 $307.651.20 $5,770.47 $313,421.67 23 $312,265.97 $5,857.03 $318,123.00 24 $316,949.95 $5,944.99 $322,894.84 25 $321,704.20 $6,034.06 $327,738.26 26 $326,529.77 $6,124.57 $332,654.34 27 $331,427.71 $6,216.44 $337,644.15 28 $336,399.13 $67309.69 $342,708.82 29 $341,445.12 $6,404.33 $347,849.45 30 $346,566.79 $6,500.40 $353,067.19 Total $8,447,938.35 $159,454.15 $8,606,392.50 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel Assessment R307365 $3,647,928.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 1262,891.74 $5,306.08 $288,197.82 2 $287,135.12 $5,385.67 $292,520.79 3 $291,442.14 $5,466.46 $296,908.60 4 $295,813.77 $5,548.45 $301,362.23 5 $300,250.98 $5,631.68 $305,882.66 6 $304,754.75 $5,716.16 $310,470.90 7 $309,326.07 $5,801.90 $315,127.96 8 $313,965.96 $5,888.93 $319,854.88 9 $318,675.45 $5,977.26 $324,652.71 10 $323,455.58 $6,066.92 $329,522.50 11 $328,307.41 $6,157.92 $334,465.34 12 $333,232.02 $6,250.29 $339,482.32 13 $338,230.50 $6,344.05 $344,574.55 14 $343,303.96 $6,439.21 $349,743.17 15 $348,453.52 $6,535.79 $354,989,32 16 $353,680.32 $6,633.83 $360,314.16 17 $358,985.53 $6,733.34 $365,718.87 18 $364,370.31 $6,834.34 $37I,204.65 19 $369,835.87 $6,936.85 $376,772.72 20 $375,383.41 $7,040.91 $382,424.31 21 $381,014.16 $7,146.52 $388,160.68 22 $386,729.37 $7.253.72 $393,983.09 23 $392,530.31 $7,362.52 $399,892.83 24 $398,418.26 $7,472.96 $405,891.23 25 $404,394.54 $7,585.06 $411,979.59 26 $410,460.46 $7,698.83 $418,I59.29 27 $416,617.36 $7,814.31 $424,431.68 28 $422,866.62 $7,931.53 $430,798.15 29 $429,209.62 $8,050.50 $437,260.12 30 $435,647.77 $8,171.26 $443,819.03 Total $10,619,382.89 $199,183.25 $10,818,566.14 Assessment Roll The Highlands at Trophy Club Public improvement District Town of Trophy Club, Texas Tax Parcel R171478 Assessment S7,314,260.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $567,210.84 $10,638.93 $577,849.77 2 $575,719.00 S10,798.51 $586,517.52 3 $584,354.79 S10,960.49 $595,315.28 4 $593,120.11 $11,124.90 S604,245.01 5 $602,016.91 S11,291.77 $613,308.68 6 $611,047.16 S11,461.15 $622,508.31 7 S620,212.87 $11,633.07 $631,845.94 8 $629,516.07 S11,807.56 $641,323.63 9 $638,958.81 S11,984.68 S650,943.48 10 $648,543.19 $12,164.45 S660,707.63 11 $658,271.34 S12,346.91 $670,618.25 12 $668,145.41 S12,532.12 $680,677.52 13 $678,167.59 S12,720.10 $690,887.69 14 $688,340.10 S12,910.90 $701,251.00 15 S698,665.20 $13,104.56 $711,769.77 16 $709,145.18 S13,301.13 $722,446.31 17 $719,782.36 S13,500.65 $733,283.01 18 S730,579.09 S13,703.16 $744,282.25 19 $741,537.78 S13,908.71 $755,446.49 20 $752,660.85 $14,117.34 $766,778.18 21 S763,950.76 $14,329.10 $778,279.86 22 $775,410.02 $14,544.03 $789,954.05 23 $787,041.17 $14,762.19 $801,803.36 24 $798,846.79 $14,983.63 $813,830.41 25 S810,829.49 $15,208.38 $826,037.87 26 S822,991.93 $15,436.51 $838,428.44 27 $835,336.81 $15,668.05 $851,004.87 28 S847,866.86 $15,903.07 $863,769.94 29 S860,584.87 $16,141.62 $876,726.49 30 $873,493.64 $16,383.74 $889,877,39 Tnlal $21292.346.99 S399,371.40 $21,691,718.39 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R313722 Assessment $0.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $0.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 5 $0.00 $0.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $0.00 $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 $0.00 15 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.00 $0.00 18 $0.00 $0.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 $0.00 $0.00 21 $0.00 $0.00 $0.00 22 $0.00 $0.00 $0.00 23 $0.00 $0.00 $0.00 24 $0.00 $0.00 $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00 Assessment Roll The Highlands at Trophy Club Public Improvement District Town of Trophy Club, Texas Tax Parcel R313723 Assessment $0.00 Annual Installment Per Lot Annual Principal Collection Year and Interest Costs Total 1 $0.00 $0.00 $0.00 2 $0.00 $0.00 $0.00 3 $0.00 $0.00 $0.00 4 $0.00 $0.00 $0.00 s $0.00 $0.00 $0.00 6 $0.00 $0.00 $0.00 7 $0.00 $0.00 $0.00 8 $0.00 $0.00 $0.00 9 $0.00 $0.00 $0.00 10 $0.00 $0.00 $0.00 11 $o.0o $0.00 $0.00 12 $0.00 $0.00 $0.00 13 $0.00 $0.00 $0.00 14 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 16 $0.00 $0.00 $0.00 17 $0.00 $0.00 $0.00 18 $0.00 $0.00 $0.00 19 $0.00 $0.00 $0.00 20 $0.00 $0.00 $0.00 21 $0.00 $0.00 $0.00 22 $0.00 $0.00 $0.00 23 $0.00 $0.00 $0.00 24 $0.00 $0.00 $0.00 25 $0.00 $0.00 $0.00 26 $0.00 $0.00 $0.00 27 $0.00 $0.00 $0.00 28 $0.00 $0.00 $0.00 29 $0.00 $0.00 $0.00 30 $0.00 $0.00 $0.00 Total $0.00 $0.00 $0.00