6M3

Cypress Park Estates
Community Development District

Proposed Budget
FY2023

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Debt Service Fun Series 2020A1	

9-10	

Amortization Schedule Series 2020A1	

11	

Debt Service Fund Series 2020A2	

12-13	

Amortization Schedule Series 2020A2	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2022	4/30/22	5 Months	9/30/22	FY2023	

Revenues						

Assessments - On Roll	
$	265,500	
$	-	
$	-	$	-	
$	351,262	
Assessments - Direct	$	-	$	-	$	-	$	-	$	107,683	
Assessments - Lot Closings	$	-	$	262,500	$	-	$	262,500	$	-	
Developer Contributions	$	58,945	$	9,105	$	-	$	9,105	$	-	
Total Revenues	$	324,445	$	271,605	$	-	$	271,605	$	458,945	

Expenditures						
Administrative
Supervisor Fees	
$	10,000	
$	1,000	
$	5,000	
$	6,000	
$	10,000	
Engineer Fees	$	10,000	$	3,330	$	4,167	$	7,496	$	10,000	
Attorney Fees	$	25,000	$	5,535	$	10,417	$	15,951	$	25,000	
Annual Audit	$	4,500	$	-	$	4,900	$	4,900	$	6,000	
Assessment Adminstration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Dissemination	$	6,000	$	3,500	$	2,500	$	6,000	$	8,000	
Arbitrage	$	1,000	$	900	$	-	$	900	$	1,800	
Trustee Fees	$	5,000	$	8,081	$	-	$	8,081	$	16,160	
Management Fees	$	36,050	$	21,029	$	15,021	$	36,050	$	37,853	
Information Technology	$	1,800	$	1,050	$	750	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	700	$	500	$	1,200	$	1,200	
Telephone	$	150	$	-	$	63	$	63	$	150	
Postage & Delivery	$	500	$	265	$	208	$	473	$	500	
Insurance	$	5,500	$	5,175	$	-	$	5,175	$	5,822	
Printing & Binding	$	350	$	9	$	146	$	155	$	350	
Legal Advertising	$	10,000	$	-	$	4,167	$	4,167	$	10,000	
Other Current Charges	$	2,000	$	277	$	833	$	1,110	$	2,000	
Office Supplies	$	350	$	3	$	146	$	149	$	350	
Travel Per Diem	$	550	$	-	$	229	$	229	$	550	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	

Total Administrative	$	125,125	$	56,029	$	49,046	$	105,075	$	142,710	

1

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2022	4/30/22	5 Months	9/30/22	FY2023	
Operations & Maintenance						
Field Expenditures				
Property Insurance	$	5,000	$	-	$	5,000  $	5,000  $	5,000	
Field Management	$	15,000	$	625	$	6,250  $	6,875  $	15,750	
Landscape Maintenance	$	40,000	$	1,500	$	25,000  $	26,500  $	80,000	
Landscape Replacement	$	5,000	$	-	$	2,083	$	2,083  $	15,000	
Lake Maintenance	$	10,000	$	-	$	-	$	-	$	-	
Streetlights	$	12,600	$	1,156	$	5,250	$	6,406  $	16,764	
Electric	$	5,000	$	507	$	2,083	$	2,590  $	6,600	
Water & Sewer	$	5,000	$	13,228	$	2,083	$	15,311  $	25,185	
Sidewalk & Asphalt Maintenance	$	500	$	-	$	208	$	208  $	2,500	
Irrigation Repairs	$	2,500	$	-	$	1,042	$	1,042  $	7,500	
General Repairs & Maintenance	$	5,000	$	-	$	2,083	$	2,083  $	15,000	
Contingency	$	5,000	$	-	$	2,083	$	2,083  $	7,500	
Subtotal Field Expenditures	$	110,600	$	17,016	$	53,167	$	70,182	$	196,799	

Amenity Expenditures						
Amenity - Electric	$	14,400	$	-	$	2,400	$	2,400	$	12,540	
Amenity - Water	$	5,000	$	-	$	833	$	833	$	3,696	
Playground Lease	$	14,000	$	-	$	2,333	$	2,333	$	23,500	
Internet	$	3,000	$	-	$	500	$	500	$	2,500	
Pest Control	$	720	$	-	$	120	$	120	$	600	
Janitorial Service	$	5,400	$	-	$	900	$	900	$	6,600	
Security Services	$	15,000	$	-	$	2,500	$	2,500	$	34,000	
Pool Maintenance	$	16,200	$	-	$	2,700	$	2,700	$	18,000	
Amenity Access Management	$	-	$	-	$	833	$	833	$	5,000	
Amenity Repairs & Maintenance	$	5,000	$	-	$	833	$	833	$	5,000	
Contingency	$	5,000	$	-	$	833	$	833	$	3,000	
Subtotal Amenity Expenditures	$	83,720	$	-	$	14,787	$	14,787	$	114,436	
						
Total Operations & Maintenance	$	194,320	$	17,016	$	67,953	$	84,969	$	311,235	

Other Expenses						
Capital Reserves	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Total Other Expenditures	$	5,000	$	-	$	5,000	$	5,000	$	5,000	

Total Expenditures	$	324,445	$	73,045	$	121,999	$	195,044	$	458,945	
				
Excess Revenues/(Expenditures)	$	-	$	198,560	$	(121,999)	$	76,561	$	-	

Net Assessments	
$	458,945	
Add: Discounts & Collections 7%		$34,544 	
Gross Assessments		$493,489 	
Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	354.00	354.00	1.00	$351,261.83	$992.27	$1,066.95	
Unplatted	108.52	349.00	0.31	$107,682.67	$308.55	$331.77	
	462.52	703.00		$458,944.50			

REVENUES:

Special Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineer Fees

The District's engineer Gadd & Associates provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney Fees

The District's legal counsel KE Law Group, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is currently contracted with Grau & Associates for these services.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC, to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2020 bonds as well as one other anticipated bond issuance. Governmental Management Services-Central Florida, LLC, provides these services.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 bonds as well as one other anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenditures

Property Insurance

The District’s property insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails. Governmental Management Services-Central Florida, LLC, provides these services.

Landscape Maintenance

The District has contracts with Cardinal Landscaping to provide landscaping services throughout the District. These services include mowing, edging, trimming, cleanup, detailing and pruning as well as maintenance of the irrigation systems.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting, and other assets

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents estimated cost of leasing agreement for playgrounds to be installed in the community.

Internet

Internet service will be added for use at the Amenity Facilities.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents the estimated costs to provide janitorial services 3 times a week and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenditures:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Community Development District

Proposed Budget Debt Service Fund Series 2020 A-1

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
	Description	FY2022	4/30/22	5 Months	9/30/22	FY2023	

Revenues							

Special Assessments - 2020 A1	
$	442,500	
$	-	
$	5,000	
$	5,000	
$	442,500	
Assessment - Lot Closing	$	-	$	437,500	$	-	$	437,500	$	-	
Interest Income	$	-	$	25	$	-	$	25	$	-	
Carry Forward Surplus	$	146,830	$	146,780	$	-	$	146,780	$	146,598	
Total Revenues	$	589,330	$	584,304	$	5,000	$	589,304	$	589,098	

Expenses						
Series 2020A-1						
Interest - 11/1	$	146,353	$	146,353	$	-	$	146,353	$	144,384	
Interest - 5/1	$	146,353	$	-	$	146,353	$	146,353	$	144,384	
Principal - 5/1	$	150,000	$	-	$	150,000	$	150,000	$	155,000	
Total Expenditures	$	442,706	$	146,353	$	296,353	$	442,706	$	443,769	

Other Financing Sources/(Uses)						

Transfer In (Out)	
$	-	$	-	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	-	

Excess Revenues/(Expenditures)	$	146,624	$	437,951	$	(291,353)	$	146,598	$	145,330	

*Carry forward less amount in Reserve funds.				

Series 2020 A-1		
Principal - 11/1/23	$142,350	
Total 	$142,350	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/22	$	7,620,000.00	$	-	$	144,384.38	$	440,737.50	
05/01/23	$	7,620,000.00	$	155,000.00 $	144,384.38	$	-	
11/01/23	$	7,465,000.00	$	-	$	142,350.00	$	441,734.38	
05/01/24	$	7,465,000.00	$	155,000.00 $	142,350.00	$	-	
11/01/24	$	7,310,000.00	$	-	$	140,315.63	$	437,665.63	
05/01/25	$	7,310,000.00	$	160,000.00 $	140,315.63	$	-	
11/01/25	$	7,150,000.00	$	-	$	138,215.63	$	438,531.25	
05/01/26	$	7,150,000.00	$	165,000.00 $	138,215.63	$	-	
11/01/26	$	6,985,000.00	$	-	$	135,534.38	$	438,750.00	
05/01/27	$	6,985,000.00	$	170,000.00 $	135,534.38	$	-	
11/01/27	$	6,815,000.00	$	-	$	132,771.88	$	438,306.25	
05/01/28	$	6,815,000.00	$	175,000.00 $	132,771.88	$	-	
11/01/28	$	6,640,000.00	$	-	$	129,928.13	$	437,700.00	
05/01/29	$	6,640,000.00	$	185,000.00 $	129,928.13	$	-	
11/01/29	$	6,455,000.00	$	-	$	126,921.88	$	441,850.00	
05/01/30	$	6,455,000.00	$	190,000.00 $	126,921.88	$	-	
11/01/30	$	6,265,000.00	$	-	$	123,834.38	$	440,756.25	
05/01/31	$	6,265,000.00	$	195,000.00 $	123,834.38	$	-	
11/01/31	$	6,070,000.00	$	-	$	120,056.25	$	438,890.63	
05/01/32	$	6,070,000.00	$	205,000.00 $	120,056.25	$	-	
11/01/32	$	5,865,000.00	$	-	$	116,084.38	$	441,140.63	
05/01/33	$	5,865,000.00	$	210,000.00 $	116,084.38	$	-	
11/01/33	$	5,655,000.00	$	-	$	112,015.63	$	438,100.00	
05/01/34	$	5,655,000.00	$	220,000.00 $	112,015.63	$	-	
11/01/34	$	5,435,000.00	$	-	$	107,753.13	$	439,768.75	
05/01/35	$	5,435,000.00	$	230,000.00 $	107,753.13	$	-	
11/01/35	$	5,205,000.00	$	-	$	103,296.88	$	441,050.00	
05/01/36	$	5,205,000.00	$	240,000.00 $	103,296.88	$	-	
11/01/36	$	4,965,000.00	$	-	$	98,646.88	$	441,943.75	
05/01/37	$	4,965,000.00	$	245,000.00 $	98,646.88	$	-	
11/01/37	$	4,720,000.00	$	-	$	93,900.00	$	437,546.88	
05/01/38	$	4,720,000.00	$	255,000.00 $	93,900.00	$	-	
11/01/38	$	4,465,000.00	$	-	$	88,959.38	$	437,859.38	
05/01/39	$	4,465,000.00	$	265,000.00 $	88,959.38	$	-	
11/01/39	$	4,200,000.00	$	-	$	83,825.00	$	437,784.38	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

05/01/40	$	4,200,000.00	$	280,000.00	$	83,825.00	$	-	
11/01/40	$	3,920,000.00	$	-	$	78,400.00	$	442,	225.00	
05/01/41	$	3,920,000.00	$	290,000.00	$	78,400.00	$	-	
11/01/41	$	3,630,000.00	$	-	$	72,600.00	$	441,	000.00	
05/01/42	$	3,630,000.00	$	300,000.00	$	72,600.00	$	-	
11/01/42	$	3,330,000.00	$	-	$	66,600.00	$	439,	200.00	
05/01/43	$	3,330,000.00	$	315,000.00	$	66,600.00	$	-	
11/01/43	$	3,015,000.00	$	-	$	60,300.00	$	441,	900.00	
05/01/44	$	3,015,000.00	$	325,000.00	$	60,300.00	$	-	
11/01/44	$	2,690,000.00	$	-	$	53,800.00	$	439,	100.00	
05/01/45	$	2,690,000.00	$	340,000.00	$	53,800.00	$	-	
11/01/45	$	2,350,000.00	$	-	$	47,000.00	$	440,	800.00	
05/01/46	$	2,350,000.00	$	355,000.00	$	47,000.00	$	-	
11/01/46	$	1,995,000.00	$	-	$	39,900.00	$	441,	900.00	
05/01/47	$	1,995,000.00	$	365,000.00	$	39,900.00	$	-	
11/01/47	$	1,630,000.00	$	-	$	32,600.00	$	437,	500.00	
05/01/48	$	1,630,000.00	$	385,000.00	$	32,600.00	$	-	
11/01/48	$	1,245,000.00	$	-	$	24,900.00	$	442,	500.00	
05/01/49	$	1,245,000.00	$	400,000.00	$	24,900.00	$	-	
11/01/49	$	845,000.00	$	-	$	16,900.00	$	441,	800.00	
05/01/50	$	845,000.00	$	415,000.00	$	16,900.00	$	-	
11/1/50	$	430,000.00	$	-	$	8,600.00	$	440,	500.00	
5/1/51	$	430,000.00	$	430,000.00	$	8,600.00	$	438,	600.00	

$

7,620,000.00 $

5,280,787.50 $

13,197,140.63

Cypress Park Estates
Community Development District

Proposed Budget Debt Service Fund Series 2020 A-2

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
	Description	FY2022	4/30/22	5 Months	9/30/22	FY2023	

Revenues							

Special Assessments - 2020 A2	
$	71,156	
$	44,078	
$	27,078	
$	71,156	
$	71,156	
Interest Income	$	-	$	3	$	-	$	3	$	-	
Carry Forward Surplus	$	24,092	$	24,144	$	-	$	24,144	$	27,146	
Total Revenues	$	95,248	$	68,224	$  27,078	$	95,302	$	98,303	

Expenses						
Series 2018A-2						
Interest- 11/1	$	24,078	$	24,078	$	-	$	24,078	$	23,678	
Interest - 5/1	$	24,078	$	-	$	24,078	$	24,078	$	23,678	
Principal - 5/1	$	20,000	$	-	$	20,000	$	20,000	$	20,000	
Total Expenditures	$	68,156	$	24,078	$  44,078	$	68,156	$	67,356	

Other Financing Sources/(Uses)						
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	-	
						
Excess Revenues/(Expenditures)	$	27,092	$	44,146	$ (17,000)	$	27,146	$	30,946	

*Carry forward less amount in Reserve funds.						
				Series 2020 A-2		
Interest - 11/1/23 	$23,278	
Total 	$23,278	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/22	$	1,165,000.00	$	-	$	23,678.13	$	67,756.25	
05/01/23	$	1,165,000.00	$	20,000.00	$	23,678.13	$	-	
11/01/23	$	1,145,000.00	$	-	$	23,278.13	$	66,956.25	
05/01/24	$	1,145,000.00	$	20,000.00	$	23,278.13	$	-	
11/01/24	$	1,125,000.00	$	-	$	22,878.13	$	66,156.25	
05/01/25	$	1,125,000.00	$	25,000.00	$	22,878.13	$	-	
11/01/25	$	1,100,000.00	$	-	$	22,378.13	$	70,256.25	
05/01/26	$	1,100,000.00	$	25,000.00	$	22,378.13	$	-	
11/01/26	$	1,075,000.00	$	-	$	21,878.13	$	69,256.25	
05/01/27	$	1,075,000.00	$	25,000.00	$	21,878.13	$	-	
11/01/27	$	1,050,000.00	$	-	$	21,378.13	$	68,256.25	
05/01/28	$	1,050,000.00	$	25,000.00	$	21,378.13	$	-	
11/01/28	$	1,025,000.00	$	-	$	20,878.13	$	67,256.25	
05/01/29	$	1,025,000.00	$	30,000.00	$	20,878.13	$	-	
11/01/29	$	995,000.00	$	-	$	20,278.13	$	71,156.25	
05/01/30	$	995,000.00	$	30,000.00	$	20,278.13	$	-	
11/01/30	$	965,000.00	$	-	$	19,678.13	$	69,956.25	
05/01/31	$	965,000.00	$	30,000.00	$	19,678.13	$	-	
11/01/31	$	935,000.00	$	-	$	19,078.13	$	68,756.25	
05/01/32	$	935,000.00	$	30,000.00	$	19,078.13	$	-	
11/01/32	$	905,000.00	$	-	$	18,478.13	$	67,556.25	
05/01/33	$	905,000.00	$	30,000.00	$	18,478.13	$	-	
11/01/33	$	875,000.00	$	-	$	17,878.13	$	66,356.25	
05/01/34	$	875,000.00	$	35,000.00	$	17,878.13	$	-	
11/01/34	$	840,000.00	$	-	$	17,178.13	$	70,056.25	
05/01/35	$	840,000.00	$	35,000.00	$	17,178.13	$	-	
11/01/35	$	805,000.00	$	-	$	16,478.13	$	68,656.25	
05/01/36	$	805,000.00	$	35,000.00	$	16,478.13	$	-	
11/01/36	$	770,000.00	$	-	$	15,778.13	$	67,256.25	
05/01/37	$	770,000.00	$	40,000.00	$	15,778.13	$	-	
11/01/37	$	730,000.00	$	-	$	14,978.13	$	70,756.25	
05/01/38	$	730,000.00	$	40,000.00	$	14,978.13	$	-	
11/01/38	$	690,000.00	$	-	$	14,178.13	$	69,156.25	

		

		

05/01/39	$

690,000.00	$

40,000.00	$

14,178.13	$	-

DATE		BALANCE	PRINCIPAL	INTEREST		TOTAL	

11/01/39	
$	
650,000.00	
$	-	
$	13,378.13	
$	
67,556.25	
05/01/40	$	650,000.00	$	45,000.00	$	13,378.13	$	-	
11/01/40	$	605,000.00	$	-	$	12,478.13	$	70,856.25	
05/01/41	$	605,000.00	$	45,000.00	$	12,478.13	$	-	
11/01/41	$	560,000.00	$	-	$	11,550.00	$	69,028.13	
05/01/42	$	560,000.00	$	45,000.00	$	11,550.00	$	-	
11/01/42	$	515,000.00	$	-	$	10,621.88	$	67,171.88	
05/01/43	$	515,000.00	$	50,000.00	$	10,621.88	$	-	
11/01/43	$	465,000.00	$	-	$	9,590.63	$	70,212.50	
05/01/44	$	465,000.00	$	50,000.00	$	9,590.63	$	-	
11/01/44	$	415,000.00	$	-	$	8,559.38	$	68,150.00	
05/01/45	$	415,000.00	$	55,000.00	$	8,559.38	$	-	
11/01/45	$	360,000.00	$	-	$	7,425.00	$	70,984.38	
05/01/46	$	360,000.00	$	55,000.00	$	7,425.00	$	-	
11/01/46	$	305,000.00	$	-	$	6,290.63	$	68,715.63	
05/01/47	$	305,000.00	$	55,000.00	$	6,290.63	$	-	
11/01/47	$	250,000.00	$	-	$	5,156.25	$	66,446.88	
05/01/48	$	250,000.00	$	60,000.00	$	5,156.25	$	-	
11/01/48	$	190,000.00	$	-	$	3,918.75	$	69,075.00	
05/01/49	$	190,000.00	$	60,000.00	$	3,918.75	$	-	
11/01/49	$	130,000.00	$	-	$	2,681.25	$	66,600.00	
05/01/50	$	130,000.00	$	65,000.00	$	2,681.25	$	-	
11/1/50	$	65,000.00	$	-	$	1,340.63	$	69,021.88	
5/1/51	$	65,000.00	$	65,000.00	$	1,340.63	$	66,340.63	
			$	1,165,000.00	$	846,637.50	$	2,055,715.63