Cypress Park Estates Community Development District

Meeting Agenda February 6, 2025

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Cypress Park Estates
Community Development District

219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526
January 30, 2025

Board of Supervisors
Cypress Park Estates Community Development District
Dear Board Members:

A meeting of the Board of Supervisors of the Cypress Park Estates Community Development District will be held Thursday, February 6, 2025 at 10:30 AM at the Lake Alfred Public Library, 245 N. Seminole Ave., Lake Alfred, FL 33850.

Zoom Link: https://us06web.zoom.us/j/82131226228
Call-In Information: 1-646-876-9923
Meeting ID: 821 3122 6228

Following is the advance agenda for the meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period (1Speakers may submit questions and comments to the District Manager prior to the beginning of the meeting via email at jburns@gmscfl.com)
Approval of Minutes of the November 19, 2024 Landowners’ Meeting & the November 19, 2024 Board of Supervisors Meeting
Consideration of 2025 Data Sharing and Usage Agreement with Polk County Property Appraiser
Consideration of 2025 Contract Agreement with Polk County Property Appraiser
Presentation of Arbitrage Rebate Reports from AMTEC
Series 2020 Assessment Area One Project Bonds
Series 2020 Assessment Area Two Project Bonds
Consideration of Resolution 2025-05 Opening a State Board of Administration Investment Account (Memorandum Pertaining to Various Interest-Bearing Account Options for the District)
Discussion Regarding Changing Operating Account to an Interest-Bearing Account (requested by Supervisor A. Metzger)
Discussion Regarding Management of Excess Cash & Determination of What Excess Cash Is (requested by Supervisor A. Metzger)
Discussion Regarding Selection of an Interest Account for Capital Reserves (requested by Supervisor A. Metzger)
Questioning of Treasurer by Board Members (requested by Supervisor A. Metzger)
Discussion Regarding Playground Lease and Sun Protection for Area (requested by Supervisor A. Metzger)

1 Comments will be limited to three (3) minutes

Discussion Regarding Rain/Sun Protection for Mailboxes (requested by Supervisor A. Metzger)
Discussion Regarding CDD Interaction with Polk County (requested by Supervisor A. Metzger)
Discussion Regarding Meeting Time & Location for the March Board Meeting (requested by Supervisor A. Metzger)
Discussion Regarding the Election of New Board Member to Vacant Board Seat #5 with Term Expiring November 2026 (requested by Supervisor A. Metzger)
Staff Reports
Attorney
Engineer
Field Manager’s Report
Consideration of Proposal from Prince & Sons for Plant Replacement (to be provided under separate cover)
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Other Business
Supervisors Requests and Audience Comments
Adjournment

MINUTES

MINUTES OF MEETING CYPRESS PARK ESTATES
COMMUNITY DEVELOPMENT DISTRICT

The Landowners’ meeting of the Board of Supervisors of the Cypress Park Estates Community Development District was held Tuesday, November 19, 2024 at 11:00 a.m. at the Lake Alfred Public Library, 245 N. Seminole Ave., Lake Alfred, Florida.

Present were:

Steve Rosser	CDD Chairman
Alan Metzger	Elected to Board of Supervisors
Kristina Bolen	Elected to Board of Supervisors
Jill Burns	District Manager, GMS
Grace Kobitter	District Counsel, Kilinski Van Wyk
Rodney Gadd	District Engineer, Gadd Engineering
Scott Shapiro	Replaced as Supervisor
McKinzie Terrill	Replaced as Supervisor

FIRST ORDER OF BUSINESS	Determination of Number of Voting Units
Represented
Ms. Burns stated two residents within Cypress Park Estates who own their homes are present so each are authorized one vote. Neither have proxy forms assigned to them from other residents. No proxies were received from the builders.

SECOND ORDER OF BUSINESS	Call to Order
Ms. Burns called the meeting to order.

THIRD ORDER OF BUSNESS	Election of Chairman for the Purpose of
Conducting the Landowners’ Meeting
Ms. Burns asked if everyone agreed to her serving as Chair for the meeting.

FOURTH ORDER OF BUSINESS	Nominations for the Position of Supervisor
Alan Metzger nominated himself for seat #1. Kristina Bolen nominated herself for seat #2.
No nominations were received for seat #5.

November 19, 2024	Cypress Park Estates CDD

FIFTH ORDER OF BUSINESS	Casting of Ballots
Ms. Burns asked the two residents to cast their votes. Alan Metzger received two votes for seat #1. Kristina Bolen received two votes for seat #2

SIXTH ORDER OF BUSINESS	Ballot Tabulation
There were no nominations for seat #5 so that seat will remain vacant at this time.

SEVENTH ORDER OF BUSINESS	Landowner’s Questions and Comments
There being no comments, the next item followed.

EIGHTH ORDER OF BUSINESS	Adjournment
Ms. Burns adjourned the meeting.

Secretary/Assistant Secretary	Chairman/Vice Chairman

2

MINUTES OF MEETING CYPRESS PARK ESTATES
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Cypress Park Estates Community Development District was held Tuesday, November 19, 2024 at 11:00 a.m. at the Lake Alfred Public Library, 245 N. Seminole Ave., Lake Alfred, Florida.

Present and constituting a quorum:
Steve Rosser	Chairman
Alan Metzger	Vice Chairman
Kristina Bolen	Assistant Secretary Also present were:
Jill Burns	District Manager, GMS
Marshall Tindall via Zoom	Field Manager, GMS
Grace Kobitter	District Counsel, Kilinski Van Wyk
Rodney Gadd	District Engineer, Gadd Engineering
Scott Shapiro	Replaced as Supervisor
McKinzie Terrill	Replaced as Supervisor

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order at 11:03 a.m. and called the roll. Three Supervisors were in attendance constituting a quorum.

SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Burns asked for any public comments on any of the agenda items.

THIRD ORDER OF BUSNESS	Organizational Matters
Administration of Oaths of Office to Newly Elected Board Members
Ms. Burns administered the oath of office to Kristina Bolen and Alan Metzger. Ms. Kobitter reviewed the Sunshine Law, Public Records Law, and Ethics Law.

Consideration of Resolution 2025-01 Canvassing and Certifying the Results of the Landowners’ Election
Ms. Burns stated the results of the landowners’ election will be filled into this resolution. Alan Metzger was elected to seat #1 for 4 years and Kristina Bolen was elected to seat #2 for two years.

On MOTION by Mr. Rosser, seconded by Ms. Bolen, with all in favor, Resolution 2025-01 Canvassing and Certifying the Results of the Landowners’ Meeting, was approved.

Election of Officers
Consideration of Resolution 2025-02 Electing Officers
Ms. Burns noted Steve Rosser will be Chair, Alan Metzger as Vice Chair, Allan Keen and Kristina Bolen will be Assistant Secretaries, Jill Burns as Secretary and George Flint as Assistant Secretary. There is one vacant Assistant Secretary position, Seat #5, with a term expiring in November 2026.

On MOTION by Ms. Bolen, seconded by Mr. Metzger, with all in favor, Resolution 2025-02 Electing Officers as slated above, was approved.

FOURTH ORDER OF BUSNESS	Approval of the Minutes of the July 23, 2024
Board of Supervisors Meeting
Ms. Burns presented the minutes for the July 23, 2024, Board of Supervisors meeting. The Board had no changes to the minutes.

On MOTION by Ms. Bolen, seconded by Mr. Rosser, with all in favor, the Minutes of the July 23, 2024, Board of Supervisors Meeting, were approved.

FIFTH ORDER OF BUSINESS	Consideration of Resolution 2025-03 Authorizing the Publication of Legal Advertisements and Public Notices on a Publicly Accessible Website in Polk County
Ms. Burns stated Florida Statutes require meeting notices and advertisements be posted in the newspaper. This resolution states under Florida Law if a county has a website where they post public notices, the District can piggyback off that and utilize that website for most of their ads. An ad will need to be posted in the newspaper directing residents that they are now using the Polk County website to post most of their notices.

On MOTION by Mr. Metzger, seconded by Ms. Bolen, with all in favor, Resolution	2025-03	Authorizing	the	Publication	of	Legal

Advertisements and Public Notices on a Publicly Accessible Website in Polk County, was approved.

SIXTH ORDER OF BUSINESS	Presentation of Arbitrage Rebate Report for Series 2022 Project Bonds from AMTEC
Ms. Burns stated this is a required report under the trust indenture related to the bonds that were issued. The District has to determine under internal revenue code that they don’t earn more interest than they pay. Page 4 of the agenda package shows a negative arbitrage amount listed. She asked the Board for acceptance of the report.

On MOTION by Mr. Metzger, seconded by Ms. Bolen, with all in favor, Accepting the Arbitrage Rebate Report for Series 2022 Project Bonds from AMTEC, was approved.

SEVENTH ORDER OF BUSINESS	Ratification of Audit Services Engagement
Letter for Fiscal Year 2024 Audit with Grau & Associates
Ms. Burns stated the District is required by Florida Law to have an annual independent audit. It is part of a multiyear agreement. This is the renewal for FY2024 for a contract that was previously approved. The amount is NTE $7,200.

On MOTION by Mr. Metzger, seconded by Mr. Rosser, with all in favor, the Audit Services Engagement Letter for Fiscal Year 2024 Audit with Grau & Associates, was ratified.

EIGHTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Kobitter had nothing to report. Mr. Metzger asked her to research the Corporate Transparency Act. Ms. Kobitter has done some research and from what has been gathered so far, it would not apply to the CDD which is a unit of government.

Engineer
Mr. Gadd had nothing to report to the Board.

Field Manager’s Report
Ms. Burns presented the Field Managers Report on page 67 of the agenda package. Mr. Metzger asked if the big section that belongs to the city, does the Board coordinate with the city to take

care of that. Ms. Burns stated it is city property. They can explore entering into an agreement with the city where the CDD will maintain it, but residents would pay for it at that point.

Yearly Contract Renewals
Landscape Maintenance
Mr. Tindall presented the landscape maintenance renewal that was previously approved in October 2023. This is continuing the existing services. The budget is $128,870 and the renewal is for
$115,572 annual, plus extra padding is there to accommodate things that aren’t currently static in the budget such as mulch.

On MOTION by Mr. Metzger, seconded by Ms. Bolen, with all in favor, the Landscape Maintenance Contract Renewal, was approved.

Pool Maintenance
Mr. Tindall presented the pool service renewal. Previous $1,650 per month, no seasonal. New recommended pricing is $1,975 per month as budgeted for: includes added seasonal and price requested price increase. The budgeted amount is $23,700. Pool service only.

On MOTION by Mr. Metzger, seconded by Ms. Bolen, with all in favor, the Pool Service Contract Renewal, was approved.

Janitorial Maintenance
Mr. Tindall presented the janitorial renewal with no change in rates or cost. It includes a seasonal increase for service 5 months & includes trash empties. Just adding planned/recommended services as budgeted for. The budget is $14,705 and the contract as presented for the services is
$13,125.

Fountain Maintenance
Mr. Tindall noted there was no change to fountain maintenance.

On MOTION by Ms. Bolen, seconded by Mr. Metzger, with all in favor, the Fountain Maintenance Contract Renewal, was approved.

District Manager’s Report
Approval of Check Register

Ms. Burns presented the check register from July 10th through November 1st for $138,065.93.
She offered to answer any questions.

On MOTION by Ms. Bolen, seconded by Mr. Metzger, with all in favor, the Check Register totaling $138,065.93, was approved.

Balance Sheet and Income Statement
Ms. Burns noted the financial statements through September are included in the agenda package for review. No action required from the Board.

Reminder: 4 Hours of Ethics Training Must be Completed by 12/31/24
Ms. Burns reminded the Board of completing the 4 hours of ethics training by 12/31/24.

NINTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

TENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being no comments, the next item followed.

ELEVENTH ORDER OF BUSINESS	Adjournment
Ms. Burns asked for a motion to adjourn.

On MOTION by Ms. Bolen, seconded by Mr. Metzger, with all in favor, the meeting was adjourned.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

POLK COUNTY PROPERTY APPRAISER
2025 Data Sharing and Usage Agreement

Revised 01/2025
ADA Compliant

This Data Sharing and Usage Agreement, hereinafter referred to as “Agreement,” establishes the terms and conditions

under which the Cypress Park Estates Community Development District

hereinafter

referred to as “agency,” can acquire and use Polk County Property Appraiser data that is exempt from Public Records disclosure as defined in FS 119.071.

In accordance with the terms and conditions of this Agreement, the agency agrees to protect confidential data in accordance with FS 282.3185 and FS 501.171 and adhere to the standards set forth within these statutes.

For the purposes of this Agreement, all data is provided. It is the responsibility of the agency to apply all statutory guidelines relative to confidentiality and personal identifying information.
The confidentiality of personal identifying information including: names, mailing address and OR Book and Pages pertaining to parcels owned by individuals that have received exempt / confidential status, hereinafter referred to as “confidential data,” will be protected as follows:
The agency will not release confidential data that may reveal identifying information of individuals exempted from Public Records disclosure.
The agency will not present the confidential data in the results of data analysis (including maps) in any manner that would reveal personal identifying information of individuals exempted from Public Records disclosure.
The agency shall comply with all state laws and regulations governing the confidentiality and exempt status of personal identifying and location information that is the subject of this Agreement.
The agency shall ensure any employee granted access to confidential data is subject to the terms and conditions of this Agreement.
The agency shall ensure any third party granted access to confidential data is subject to the terms and conditions of this Agreement. Acceptance of these terms must be provided in writing to the agency by the third party before personal identifying information is released.
The agency agrees to comply with all regulations for the security of confidential personal information as defined in FS 501.171.
The agency, when defined as “local government” by FS 282.3185, is required to adhere to all cybersecurity guidelines when in possession of data provided or obtained from the Polk County Property Appraiser.

The term of this Agreement shall commence on January 1, 2025, and shall run until December 31, 2025, the date of signature by the parties notwithstanding. This Agreement shall not automatically renew. A new agreement will be provided annually to ensure all responsible parties are aware of and maintain the terms and conditions of this Data Sharing and Usage Agreement.
In witness of their agreement to the terms above, the parties or their authorized agents hereby affix their signatures.

POLK COUNTY PROPERTY APPRAISER

Agency:

Cypress Park Estates Community Developmen

Signature: 	

Signature: 	

Print:

Neil Combee	

Print:		

Title: Date:

Polk County Property Appraiser	
January 7, 2025	

Title: Date:

Chairman 2/6/2025

Please email the signed agreement to pataxroll@polk-county.net.

Section V

CONTRACT AGREEMENT
This Agreement made and entered into on Monday, January 13, 2025 by and between the Cypress Park Estates Community Development District, a local unit of special purpose government of the State of Florida hereinafter referred to as the 'Special District', and Neil Combee, Polk County Property Appraiser, a Constitutional Officer of the State of Florida, whose address is 255 North Wilson Ave., Bartow, FL 33830, hereinafter referred to as the 'Property Appraiser'.
Section 197.3632 Florida Statutes, provides that special assessments of non-ad valorem taxes levied by the Special District may be included in the assessment rolls of the County and collected in conjunction with ad valorem taxes as assessed by the Property Appraiser. Pursuant to that option, the Property Appraiser and the Special District shall enter into an agreement providing for reimbursement to the Property Appraiser of administrative costs, including costs of inception and maintenance, incurred as a result of such inclusion.
The parties herein agree that, for the 2025 tax year assessment roll, the Property Appraiser will include on the assessment rolls such special assessments as are certified to her by the Cypress Park Estates Community Development District.
The term of this Agreement shall commence on January 1, 2025 or the date signed below, whichever is later, and shall run until December 31, 2025, the date of signature by the parties notwithstanding. This Agreement shall not automatically renew.
The Special District shall meet all relevant requirements of Section 197.3632 & 190.021 Florida Statutes.
The Special District shall furnish the Property Appraiser with up-to-date data concerning its boundaries and proposed assessments, and other information as requested by the Property Appraiser to facilitate in administering the non-ad valorem assessment in question. Specifically, if assessments will be included on the 2025 TRIM Notice, the Special District shall provide proposed assessments no later than Friday, July 11, 2025. The Special District’s assessments shall, as far as practicable, be uniform (e.g. one uniform assessment for maintenance, etc.) to facilitate the making of the assessments by the mass data techniques utilized by the Property Appraiser.
The Special District shall certify to the Property Appraiser the Special District’s annual installment and levy no later than Monday, September 15, 2025. The Property Appraiser shall, using the information provided by the Special District, place the Special District’s non ad-valorem special assessments on properties within the district for inclusion on the 2025 tax roll.
The Property Appraiser shall be compensated by the Special District for the administrative costs incurred in carrying out this Agreement at the rate of 1% of the amount levied on the TRIM Notice or if the TRIM Notice is not used, the rate shall be 1% of the amount levied on the 2025 tax roll. For the TRIM Notice, the Property Appraiser will require payment on or before Monday, September 15, 2025 for processing within the Property Appraiser budget year (October 1st – September 30th).
If the actual costs of performing the services under this agreement exceed the compensation provided for in Paragraph 7, the amount of compensation shall be the actual costs of performing the services under this agreement.
If tax roll corrections are requested by the Special District, the Property Appraiser shall be compensated by the Special District for the administrative costs incurred at the rate of $5.00 for each tax roll correction exceeding ten (10) corrections per tax
year.
The Special District shall indemnify and hold harmless, to the extent permitted by Florida law and without waiving its right of any applicable sovereign immunity, the Property Appraiser and all respective officers, employees, agents and instrumentalities from any and all liability, losses or damages, including attorneys' fees and costs of defense, which the Property Appraiser and all respective officers, employees, agents or instrumentalities may incur as a result of claims, demands, suits, causes of actions or proceedings of any kind or nature arising out of, relating to or resulting from the negligent or intentional acts or omissions of the Special District or its employees, agents, servants, partners, principals, or subcontractors arising out of, relating to, or resulting from the performance of the Agreement. The Special District shall pay all claims and losses in connection therewith and shall investigate and defend all claims, suits or actions of any kind or nature in the name of the Property Appraiser where applicable, including appellate proceedings, and shall pay all costs, judgments, and attorneys' fees which may issue thereon.

EXECUTED By:

Special District Representative

Neil Combee
Polk County Property Appraiser By:

Print name

Title	Date

Neil Combee, Property Appraiser

Section VI

Section A

REBATE REPORT
$7,770,000
Cypress Park Estates Community Development Authority (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)

Dated: November 12, 2020
Delivered: November 12, 2020

Rebate Report to the Computation Date November 12, 2025
Reflecting Activity To October 31, 2024

TABLE OF CONTENTS

AMTEC Opinion	3	
Summary of Rebate Computations	4	
Summary of Computational Information and Definitions	5	
Methodology	7	
Sources and Uses	8	
Proof of Arbitrage Yield	9	
Bond Debt Service	11	
Arbitrage Rebate Calculation Detail Report – Acquisition and Construction Account	13	
Arbitrage Rebate Calculation Detail Report – Reserve Account	15	
Arbitrage Rebate Calculation Detail Report – Interest Account	17	
Arbitrage Rebate Calculation Detail Report – Rebate Computation Credits	18	

November 26, 2024

Cypress Park Estates Community Development District c/o Ms. Katie Costa
Director of Operations – Accounting Division Government Management Services – CF, LLC 6200 Lee Vista Boulevard, Suite 300
Orlando, FL 32822

Re:	$7,770,000 Cypress Park Estates Community Development District (City of Haines City,
Florida), Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)	

Dear Ms. Costa:
AMTEC has prepared certain computations relating to the above referenced bond issue (the “Bonds”) at the request of the Cypress Park Estates Community Development District (the “District”).
The scope of our engagement consisted of preparing the computations shown in the attached schedules to determine the Rebatable Arbitrage as described in Section 103 of the Internal Revenue Code of 1954, Section 148(f) of the Internal Revenue Code of 1986, as amended (the "Code"), and all applicable Regulations issued thereunder. The methodology used is consistent with current tax law and regulations and may be relied upon in determining the rebate liability. Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions.

Our engagement was limited to the computation of Rebatable Arbitrage based upon the information furnished to us by the District. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy or suitability of such information for purposes of calculating the Rebatable Arbitrage.

We have scheduled our next Report as of November 12, 2025, the Computation Date. Thank you and should you have any questions, please do not hesitate to contact us.

Very truly yours,

Michael J. Scarfo
Senior Vice President	Trong M. Tran
Assistant Vice President	

SUMMARY OF REBATE COMPUTATIONS
Our computations, contained in the attached schedules, are summarized as follows: For the November 12, 2025 Computation Date
Reflecting Activity from November 12, 2020 through October 31, 2024

Fund Description	Taxable Inv Yield	Net Income	Rebatable Arbitrage	
Acquisition and Construction Account	0.016066%	397.32	(116,543.36)	
Reserve Account	1.846512%	25,590.79	(33,234.84)	
Interest Account	0.005981%	12.41	(9,759.37)	
Totals	0.635778%	$26,000.52	$(159,537.57)	
Bond Yield	3.971132%		
Rebate Computation Credits	(6,262.69)	
Net Rebatable Arbitrage	$(165,800.26)	

Based upon our computations, no rebate liability exists.

SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS
COMPUTATIONAL INFORMATION

For purposes of computing Rebatable Arbitrage, investment activity is reflected from November 12, 2020, the date of the closing, to October 31, 2024, the Computation Period. All nonpurpose payments and receipts are future valued to the Computation Date of November 12, 2025.

Computations of yield are based on a 360-day year and semiannual compounding on the last day of each compounding interval. Compounding intervals end on a day in the calendar year corresponding to Bond maturity dates or six months prior.

For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received respectively, as shown on the attached schedules.
Purchase prices on investments are assumed to be at fair market value, representing an arm's length transaction.
During the period between November 12, 2020 and October 31, 2024, the District made periodic payments into the Revenue Account, Interest Account and Sinking Account (collectively, the Debt Service Fund) that were used, along with the interest earned, to provide the required debt service payments.
Under Section 148(f)(4)(A), the rebate requirement does not apply to amounts in certain bona fide debt service funds. The Regulations define a bona fide debt service fund as one that is used primarily to achieve a proper matching of revenues with principal and interest payments within each bond year. The fund must be depleted at least once each bond year, except for a reasonable carryover amount not to exceed the greater of the earnings on the fund for the immediately preceding bond year or 1/12th of the principal and interest payments on the issue for the immediately preceding bond year.
We have reviewed the Debt Service Fund and have determined that the funds deposited have functioned as a bona fide debt service fund and are not subject to the rebate requirement.

DEFINITIONS

Computation Date
November 12, 2025.

Computation Period
The period beginning on November 12, 2020, the date of the closing, and ending on October 31, 2024.

Bond Year
Each one-year period (or shorter period from the date of issue) that ends at the close of business on the day in the calendar year that is selected by the Issuer. If no day is selected by the Issuer before the earlier of the final maturity date of the issue or the date that is five years after the date of issue, each bond year ends at the close of business on the anniversary date of the issuance.

Bond Yield
The discount rate that, when used in computing the present value of all the unconditionally payable payments of principal and interest with respect to the Bonds, produces an amount equal to the present value of the issue price of the Bonds. Present value is computed as of the date of issue of the Bonds.

Taxable Investment Yield
The discount rate that, when used in computing the present value of all receipts of principal and interest to be received on an investment during the Computation Period, produces an amount equal to the fair market value of the investment at the time it became a nonpurpose investment.

Issue Price
The price determined on the basis of the initial offering price at which price a substantial amount of the Bonds was sold.

Rebatable Arbitrage
The Code defines the required rebate as the excess of the amount earned on all nonpurpose investments over the amount that would have been earned if such nonpurpose investments were invested at the Bond Yield, plus any income attributable to the excess. Accordingly, the Regulations require that this amount be computed as the excess of the future value of all the nonpurpose receipts over the future value of all the nonpurpose payments. The future value is computed as of the Computation Date using the Bond Yield.

Funds and Accounts
The Funds and Accounts activity used in the compilation of this Report was received from the District and US Bank, Trustee, as follows:

Fund	Account Number	
Revenue	229427000	
Interest	229427001	
Sinking	229427002	
Reserve	229427003	
Prepayment	229427004	
Acquisition and Construction	229427005	

METHODOLOGY

Bond Yield
The methodology used to calculate the bond yield was to determine the discount rate that produces the present value of all payments of principal and interest through the maturity date of the Bonds.

Investment Yield and Rebate Amount
The methodology used to calculate the Rebatable Arbitrage, as of October 31, 2024, was to calculate the future value of the disbursements from all funds, subject to rebate, and the value of the remaining bond proceeds, at the yield on the Bonds, to November 12, 2025. This figure was then compared to the future value of the deposit of bond proceeds into the various investment accounts at the same yield. The difference between the future values of the two cash flows, on November 12, 2025, is the Rebatable Arbitrage.

$7,770,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project) Delivered: November 12, 2020

Sources of Funds

Par Amount	$7,770,000.00	
Less Original Issue Discount	-71,478.65	
Total	$7,698,521.35	

Uses of Funds

Acquisition and Construction Account	$6,621,762.92	
Reserve Account	442,500.00	
Interest Account	283,762.45	
Costs of Issuance	195,095.98	
Underwriter’s Discount	155,400.00	
Total	$7,698,521.35	

PROOF OF ARBITRAGE YIELD
$7,770,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)

Date	

Debt Service	Present Value to 11/12/2020
@ 3.9711315114%	
05/01/2021	137,409.32	134,896.07	
11/01/2021	146,353.13	140,879.05	
05/01/2022	296,353.13	279,714.64	
11/01/2022	144,384.38	133,624.84	
05/01/2023	299,384.38	271,679.83	
11/01/2023	142,350.00	126,662.20	
05/01/2024	297,350.00	259,429.16	
11/01/2024	140,315.63	120,037.84	
05/01/2025	300,315.63	251,913.45	
11/01/2025	138,215.63	113,682.04	
05/01/2026	303,215.63	244,538.70	
11/01/2026	135,534.38	107,178.28	
05/01/2027	305,534.38	236,907.43	
11/01/2027	132,771.88	100,945.27	
05/01/2028	307,771.88	229,440.51	
11/01/2028	129,928.13	94,974.20	
05/01/2029	314,928.13	225,722.68	
11/01/2029	126,921.88	89,199.32	
05/01/2030	316,921.88	218,392.92	
11/01/2030	123,834.38	83,673.68	
05/01/2031	318,834.38	211,238.98	
11/01/2031	120,056.25	77,992.88	
05/01/2032	325,056.25	207,057.05	
11/01/2032	116,084.38	72,504.77	
05/01/2033	326,084.38	199,702.76	
11/01/2033	112,015.63	67,265.75	
05/01/2034	332,015.63	195,494.79	
11/01/2034	107,753.13	62,211.09	
05/01/2035	337,753.13	191,204.72	
11/01/2035	103,296.88	57,338.69	
05/01/2036	343,296.88	186,849.39	
11/01/2036	98,646.88	52,646.13	
05/01/2037	343,646.88	179,827.79	
11/01/2037	93,900.00	48,180.50	
05/01/2038	348,900.00	175,536.71	
11/01/2038	88,959.38	43,885.40	
05/01/2039	353,959.38	171,215.46	
11/01/2039	83,825.00	39,757.99	
05/01/2040	363,825.00	169,201.68	
11/01/2040	78,400.00	35,751.11	
05/01/2041	368,400.00	164,723.04	
11/01/2041	72,600.00	31,829.71	
05/01/2042	372,600.00	160,177.00	
11/01/2042	66,600.00	28,073.26	
05/01/2043	381,600.00	157,720.54	
11/01/2043	60,300.00	24,437.60	
05/01/2044	385,300.00	153,109.27	
11/01/2044	53,800.00	20,962.64	
05/01/2045	393,800.00	150,452.97	
11/01/2045	47,000.00	17,606.95	
05/01/2046	402,000.00	147,663.68	
11/01/2046	39,900.00	14,370.83	
05/01/2047	404,900.00	142,994.06	
11/01/2047	32,600.00	11,288.83	
05/01/2048	417,600.00	141,792.51	
11/01/2048	24,900.00	8,289.98	
05/01/2049	424,900.00	138,708.19	

PROOF OF ARBITRAGE YIELD
$7,770,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)

Date	

Debt Service	Present Value to 11/12/2020
@ 3.9711315114%	
11/01/2049	16,900.00	5,409.58	
05/01/2050	431,900.00	135,556.75	
11/01/2050	8,600.00	2,646.66	
05/01/2051	438,600.00	132,351.59	
	13,480,903.22	7,698,521.35	
	
Proceeds Summary		

Delivery date	11/12/2020	
Par Value	7,770,000.00	
Premium (Discount)	-71,478.65	
Target for yield calculation	7,698,521.35	

BOND DEBT SERVICE
$7,770,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/12/2020						
05/01/2021			137,409.32	137,409.32	137,409.32	
11/01/2021			146,353.13	146,353.13		
05/01/2022	150,000	2.625%	146,353.13	296,353.13	442,706.26	
11/01/2022			144,384.38	144,384.38		
05/01/2023	155,000	2.625%	144,384.38	299,384.38	443,768.76	
11/01/2023			142,350.00	142,350.00		
05/01/2024	155,000	2.625%	142,350.00	297,350.00	439,700.00	
11/01/2024			140,315.63	140,315.63		
05/01/2025	160,000	2.625%	140,315.63	300,315.63	440,631.26	
11/01/2025			138,215.63	138,215.63		
05/01/2026	165,000	3.250%	138,215.63	303,215.63	441,431.26	
11/01/2026			135,534.38	135,534.38		
05/01/2027	170,000	3.250%	135,534.38	305,534.38	441,068.76	
11/01/2027			132,771.88	132,771.88		
05/01/2028	175,000	3.250%	132,771.88	307,771.88	440,543.76	
11/01/2028			129,928.13	129,928.13		
05/01/2029	185,000	3.250%	129,928.13	314,928.13	444,856.26	
11/01/2029			126,921.88	126,921.88		
05/01/2030	190,000	3.250%	126,921.88	316,921.88	443,843.76	
11/01/2030			123,834.38	123,834.38		
05/01/2031	195,000	3.875%	123,834.38	318,834.38	442,668.76	
11/01/2031			120,056.25	120,056.25		
05/01/2032	205,000	3.875%	120,056.25	325,056.25	445,112.50	
11/01/2032			116,084.38	116,084.38		
05/01/2033	210,000	3.875%	116,084.38	326,084.38	442,168.76	
11/01/2033			112,015.63	112,015.63		
05/01/2034	220,000	3.875%	112,015.63	332,015.63	444,031.26	
11/01/2034			107,753.13	107,753.13		
05/01/2035	230,000	3.875%	107,753.13	337,753.13	445,506.26	
11/01/2035			103,296.88	103,296.88		
05/01/2036	240,000	3.875%	103,296.88	343,296.88	446,593.76	
11/01/2036			98,646.88	98,646.88		
05/01/2037	245,000	3.875%	98,646.88	343,646.88	442,293.76	
11/01/2037			93,900.00	93,900.00		
05/01/2038	255,000	3.875%	93,900.00	348,900.00	442,800.00	
11/01/2038			88,959.38	88,959.38		
05/01/2039	265,000	3.875%	88,959.38	353,959.38	442,918.76	
11/01/2039			83,825.00	83,825.00		
05/01/2040	280,000	3.875%	83,825.00	363,825.00	447,650.00	
11/01/2040			78,400.00	78,400.00		
05/01/2041	290,000	4.000%	78,400.00	368,400.00	446,800.00	
11/01/2041			72,600.00	72,600.00		
05/01/2042	300,000	4.000%	72,600.00	372,600.00	445,200.00	
11/01/2042			66,600.00	66,600.00		
05/01/2043	315,000	4.000%	66,600.00	381,600.00	448,200.00	
11/01/2043			60,300.00	60,300.00		
05/01/2044	325,000	4.000%	60,300.00	385,300.00	445,600.00	
11/01/2044			53,800.00	53,800.00		
05/01/2045	340,000	4.000%	53,800.00	393,800.00	447,600.00	
11/01/2045			47,000.00	47,000.00		
05/01/2046	355,000	4.000%	47,000.00	402,000.00	449,000.00	
11/01/2046			39,900.00	39,900.00		
05/01/2047	365,000	4.000%	39,900.00	404,900.00	444,800.00	
11/01/2047			32,600.00	32,600.00		
05/01/2048	385,000	4.000%	32,600.00	417,600.00	450,200.00	
11/01/2048			24,900.00	24,900.00		
05/01/2049	400,000	4.000%	24,900.00	424,900.00	449,800.00	

BOND DEBT SERVICE
$7,770,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 1 Project)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/01/2049			16,900.00	16,900.00		
05/01/2050	415,000	4.000%	16,900.00	431,900.00	448,800.00	
11/01/2050			8,600.00	8,600.00		
05/01/2051	430,000	4.000%	8,600.00	438,600.00	447,200.00	
	7,770,000		5,710,903.22	13,480,903.22	13,480,903.22	

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)

11/12/20	Beg	Bal	-6,621,762.92	-8,060,476.61	
11/12/20			54,592.16	66,453.43	
11/13/20			447,756.32	544,981.03	
11/16/20			2,871.50	3,493.87	
12/07/20			3,832.55	4,652.53	
12/15/20			587,987.68	713,164.79	
12/15/20			646.80	784.50	
12/15/20			168,498.27	204,369.98	
12/15/20			2,533.75	3,073.16	
12/15/20			247,544.33	300,244.21	
12/15/20			126,153.00	153,009.80	
12/21/20			-101,229.68	-122,700.10	
12/22/20			34,421.85	41,718.03	
12/24/20			-17,910.00	-21,701.53	
12/30/20			415.00	502.53	
12/30/20			807.50	977.81	
12/30/20			1,892.50	2,291.64	
01/08/21			355,044.48	429,549.65	
01/12/21			-420,819.63	-508,905.15	
01/13/21			1,585.00	1,916.56	
01/15/21			16,312.16	19,720.14	
01/21/21			46,944.09	56,714.60	
01/29/21			155,053.00	187,160.67	
01/29/21			71,340.16	86,112.96	
02/10/21			233,800.25	281,875.67	
02/10/21			384,769.73	463,888.40	
02/11/21			65,751.52	79,263.09	
02/11/21			446,169.78	537,855.15	
02/25/21			118,913.22	143,130.17	
02/25/21			-144,051.56	-173,387.99	
02/25/21			1,437.50	1,730.25	
03/02/21			208,095.95	250,283.73	
03/02/21			7,944.00	9,554.51	
03/10/21			2,059.47	2,474.83	
03/10/21			1,829.70	2,198.72	
03/16/21			55,057.20	66,117.89	
03/17/21			823.00	988.23	
03/18/21			-248,264.38	-298,074.22	
03/26/21			7,115.80	8,536.00	
03/31/21			5,858.00	7,024.09	
03/31/21			754,909.87	905,181.89	
03/31/21			33,395.48	40,043.17	
04/01/21			-46,944.09	-56,282.61	
04/01/21			2,453.00	2,940.97	
04/01/21			46,944.09	56,282.61	
04/12/21			852.50	1,020.86	
04/12/21			555.50	665.21	

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)	
04/12/21	6,295.20	7,538.43	
04/23/21	20,606.00	24,645.83	
04/23/21	135,304.00	161,830.48	
04/23/21	7,020.00	8,396.28	
04/27/21	-32,505.28	-38,860.99	
05/04/21	146,545.50	175,065.42	
05/04/21	825,685.52	986,376.12	
05/04/21	31,296.06	37,386.74	
05/05/21	3,431.44	4,098.80	
05/06/21	13,167.75	15,726.95	
05/20/21	615.00	733.41	
06/16/21	81,595.80	97,029.39	
06/16/21	76,753.60	91,271.31	
06/16/21	39,120.07	46,519.51	
06/16/21	212,343.60	252,507.74	
06/16/21	6,396.46	7,606.33	
06/21/21	811.85	964.88	
06/21/21	20,227.00	24,039.74	
06/21/21	73,765.64	87,670.29	
06/21/21	65,733.50	78,124.11	
06/25/21	750.00	890.98	
06/25/21	23,472.04	27,884.28	
06/28/21	-45,822.65	-54,418.49	
07/01/21	541.50	642.87	
07/06/21	410.00	486.49	
07/06/21	136,937.72	162,483.72	
07/06/21	452,640.31	537,081.26	
07/06/21	2,956.25	3,507.74	
07/06/21	76,696.84	91,004.79	
07/21/21	1,716.73	2,033.65	
07/26/21	12,574.98	14,888.31	
08/10/21	49,872.13	58,956.52	
08/10/21	60,780.00	71,851.30	
08/10/21	130,253.81	153,980.01	
08/17/21	156,936.60	185,381.37	
01/11/22	101,230.45	117,712.35	
01/20/23	-221,250.00	-247,109.70	
01/30/23	221,250.55	246,840.55	
08/14/24	255.95	268.79	
11/12/25	TOTALS:	397.32	-116,543.36	

ISSUE DATE:	11/12/20	
REBATABLE ARBITRAGE:	
-116,543.36	
COMP DATE:	11/12/25	NET INCOME:	397.32	
BOND YIELD: 3.971132%	TAX INV YIELD:	0.016066%	

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)

11/12/20	Beg	Bal	-442,500.00	-538,642.19	
12/02/20			1.39	1.69	
01/05/21			2.26	2.74	
02/02/21			2.25	2.72	
03/02/21			2.04	2.45	
04/02/21			2.25	2.70	
05/04/21			2.19	2.62	
06/02/21			2.25	2.68	
07/02/21			2.18	2.59	
08/03/21			2.25	2.66	
09/02/21			2.26	2.67	
10/04/21			2.18	2.56	
11/02/21			2.25	2.64	
12/02/21			2.19	2.56	
12/30/21			0.04	0.05	
01/04/22			2.25	2.62	
02/02/22			2.25	2.61	
03/02/22			2.03	2.35	
04/04/22			2.27	2.62	
05/03/22			2.18	2.50	
06/02/22			111.55	127.73	
07/05/22			254.72	290.62	
08/02/22			444.71	505.89	
09/02/22			669.90	759.56	
10/04/22			765.26	864.66	
11/02/22			1,002.32	1,129.05	
12/02/22			1,221.50	1,371.44	
01/04/23			1,380.03	1,544.02	
01/20/23			221,250.00	247,109.70	
02/02/23			1,183.76	1,320.39	
03/02/23			704.20	782.91	
04/04/23			796.02	881.90	
05/02/23			803.83	887.83	
06/02/23			874.48	962.71	
07/05/23			855.92	938.89	
08/02/23			894.28	978.07	
09/05/23			928.53	1,011.88	
10/03/23			899.17	976.89	
11/02/23			930.96	1,008.23	
12/04/23			903.04	974.58	
12/22/23			0.22	0.24	
01/03/24			932.85	1,003.57	
02/02/24			928.36	995.58	
03/04/24			864.84	924.22	
03/21/24			0.01	0.01	
04/02/24			922.55	982.89	
05/02/24			890.86	946.02	

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)	
06/04/24	921.00	974.61	
07/02/24	891.02	940.01	
08/02/24	919.44	966.82	
09/04/24	915.68	959.50	
10/02/24	856.14	894.38	
10/31/24	Bal	221,250.00	230,425.19	
10/31/24	Acc	884.68	921.37	
11/12/25	TOTALS:	25,590.79	-33,234.84	

ISSUE DATE:	11/12/20	REBATABLE ARBITRAGE:	-33,234.84	
COMP DATE:	11/12/25	NET INCOME:	25,590.79	
BOND YIELD:	3.971132%	TAX INV YIELD:	1.846512%	

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)

11/12/20	Beg	Bal	-283,762.45	-345,415.66	
12/02/20			0.89	1.08	
01/05/21			1.45	1.75	
02/02/21			1.44	1.74	
03/02/21			1.31	1.58	
04/02/21			1.44	1.73	
05/03/21			137,409.33	164,169.15	
05/04/21			1.40	1.67	
06/02/21			0.79	0.94	
06/22/21			-394.14	-468.38	
07/02/21			0.72	0.85	
08/03/21			0.75	0.89	
09/02/21			0.75	0.88	
10/04/21			0.72	0.85	
11/01/21			146,353.13	171,487.91	
11/02/21			0.75	0.88	
05/02/22			-145,959.00	-167,678.05	
05/02/22			146,353.13	168,130.83	
11/12/25	TOTALS:	12.41	-9,759.37	

ISSUE DATE:	11/12/20	
REBATABLE ARBITRAGE:	
-9,759.37	
COMP DATE:	11/12/25	NET INCOME:	12.41	
BOND YIELD: 3.971132%	TAX INV YIELD:	0.005981%	

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(3.971132%)	
11/12/21	-1,780.00	-2,083.19	
11/12/22	-1,830.00	-2,059.13	
11/12/23	-1,960.00	-2,120.37	
11/12/25	TOTALS:	-5,570.00	-6,262.69	

ISSUE DATE:	11/12/20	REBATABLE ARBITRAGE: -6,262.69 COMP DATE:	11/12/25
BOND YIELD: 3.971132%

Section B

REBATE REPORT
$1,185,000
Cypress Park Estates Community Development Authority (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 – 2020 Project)

Dated: November 12, 2020
Delivered: November 12, 2020

Rebate Report to the Computation Date November 12, 2025
Reflecting Activity To October 31, 2024

TABLE OF CONTENTS

AMTEC Opinion	3	
Summary of Rebate Computations	4	
Summary of Computational Information and Definitions	5	
Methodology	7	
Sources and Uses	8	
Proof of Arbitrage Yield	9	
Bond Debt Service	11	
Arbitrage Rebate Calculation Detail Report – Acquisition and Construction Account	13	
Arbitrage Rebate Calculation Detail Report – Reserve Account	14	
Arbitrage Rebate Calculation Detail Report – Interest Account	16	
Arbitrage Rebate Calculation Detail Report – Rebate Computation Credits	17	

November 26, 2024

Cypress Park Estates Community Development District c/o Ms. Katie Costa
Director of Operations – Accounting Division Government Management Services – CF, LLC 6200 Lee Vista Boulevard, Suite 300
Orlando, FL 32822

Re:	$1,185,000 Cypress Park Estates Community Development District (City of Haines City,
Florida), Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)	

Dear Ms. Costa:
AMTEC has prepared certain computations relating to the above referenced bond issue (the “Bonds”) at the request of the Cypress Park Estates Community Development District (the “District”).
The scope of our engagement consisted of preparing the computations shown in the attached schedules to determine the Rebatable Arbitrage as described in Section 103 of the Internal Revenue Code of 1954, Section 148(f) of the Internal Revenue Code of 1986, as amended (the "Code"), and all applicable Regulations issued thereunder. The methodology used is consistent with current tax law and regulations and may be relied upon in determining the rebate liability. Certain computational methods used in the preparation of the schedules are described in the Summary of Computational Information and Definitions.

Our engagement was limited to the computation of Rebatable Arbitrage based upon the information furnished to us by the District. In accordance with the terms of our engagement, we did not audit the information provided to us, and we express no opinion as to the completeness, accuracy or suitability of such information for purposes of calculating the Rebatable Arbitrage.

We have scheduled our next Report as of November 12, 2025, the Computation Date. Thank you and should you have any questions, please do not hesitate to contact us.

Very truly yours,

Michael J. Scarfo
Senior Vice President	Trong M. Tran
Assistant Vice President	

SUMMARY OF REBATE COMPUTATIONS
Our computations, contained in the attached schedules, are summarized as follows: For the November 12, 2025 Computation Date
Reflecting Activity from November 12, 2020 through October 31, 2024

Fund Description	Taxable Inv Yield	Net Income	Rebatable Arbitrage	
Acquisition and Construction Account	0.064938%	617.99	(46,119.37)	
Reserve Account	2.073442%	5,064.30	(5,693.52)	
Interest Account	0.006006%	2.05	(1,683.14)	
Totals	0.460275%	$5,684.34	$(53,496.03)	
Bond Yield	4.134312%		
Rebate Computation Credits	(6,292.76)	
Net Rebatable Arbitrage	$(59,788.79)	

Based upon our computations, no rebate liability exists.

SUMMARY OF COMPUTATIONAL INFORMATION AND DEFINITIONS
COMPUTATIONAL INFORMATION

For purposes of computing Rebatable Arbitrage, investment activity is reflected from November 12, 2020, the date of the closing, to October 31, 2024, the Computation Period. All nonpurpose payments and receipts are future valued to the Computation Date of November 12, 2025.

Computations of yield are based on a 360-day year and semiannual compounding on the last day of each compounding interval. Compounding intervals end on a day in the calendar year corresponding to Bond maturity dates or six months prior.

For investment cash flow, debt service and yield computation purposes, all payments and receipts are assumed to be paid or received respectively, as shown on the attached schedules.
Purchase prices on investments are assumed to be at fair market value, representing an arm's length transaction.
During the period between November 12, 2020 and October 31, 2024, the District made periodic payments into the Revenue Account, Interest Account and Sinking Account (collectively, the Debt Service Fund) that were used, along with the interest earned, to provide the required debt service payments.
Under Section 148(f)(4)(A), the rebate requirement does not apply to amounts in certain bona fide debt service funds. The Regulations define a bona fide debt service fund as one that is used primarily to achieve a proper matching of revenues with principal and interest payments within each bond year. The fund must be depleted at least once each bond year, except for a reasonable carryover amount not to exceed the greater of the earnings on the fund for the immediately preceding bond year or 1/12th of the principal and interest payments on the issue for the immediately preceding bond year.
We have reviewed the Debt Service Fund and have determined that the funds deposited have functioned as a bona fide debt service fund and are not subject to the rebate requirement.

DEFINITIONS

Computation Date
November 12, 2025.

Computation Period
The period beginning on November 12, 2020, the date of the closing, and ending on October 31, 2024.

Bond Year
Each one-year period (or shorter period from the date of issue) that ends at the close of business on the day in the calendar year that is selected by the Issuer. If no day is selected by the Issuer before the earlier of the final maturity date of the issue or the date that is five years after the date of issue, each bond year ends at the close of business on the anniversary date of the issuance.

Bond Yield
The discount rate that, when used in computing the present value of all the unconditionally payable payments of principal and interest with respect to the Bonds, produces an amount equal to the present value of the issue price of the Bonds. Present value is computed as of the date of issue of the Bonds.

Taxable Investment Yield
The discount rate that, when used in computing the present value of all receipts of principal and interest to be received on an investment during the Computation Period, produces an amount equal to the fair market value of the investment at the time it became a nonpurpose investment.

Issue Price
The price determined on the basis of the initial offering price at which price a substantial amount of the Bonds was sold.

Rebatable Arbitrage
The Code defines the required rebate as the excess of the amount earned on all nonpurpose investments over the amount that would have been earned if such nonpurpose investments were invested at the Bond Yield, plus any income attributable to the excess. Accordingly, the Regulations require that this amount be computed as the excess of the future value of all the nonpurpose receipts over the future value of all the nonpurpose payments. The future value is computed as of the Computation Date using the Bond Yield.

Funds and Accounts
The Funds and Accounts activity used in the compilation of this Report was received from the District and US Bank, Trustee, as follows:

Fund	Account Number	
Revenue	253204000	
Interest	253204001	
Sinking	253204002	
Reserve	253204003	
Prepayment	253204004	
Acquisition and Construction	253204005	

METHODOLOGY

Bond Yield
The methodology used to calculate the bond yield was to determine the discount rate that produces the present value of all payments of principal and interest through the maturity date of the Bonds.

Investment Yield and Rebate Amount
The methodology used to calculate the Rebatable Arbitrage, as of October 31, 2024, was to calculate the future value of the disbursements from all funds, subject to rebate, and the value of the remaining bond proceeds, at the yield on the Bonds, to November 12, 2025. This figure was then compared to the future value of the deposit of bond proceeds into the various investment accounts at the same yield. The difference between the future values of the two cash flows, on November 12, 2025, is the Rebatable Arbitrage.

$1,185,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)
Delivered: November 12, 2020

Sources of Funds

Par Amount	$1,185,000.00	
Original Issue Discount	-7,768.20	
Total	$1,177,231.80	

Uses of Funds

Acquisition and Construction Account	$1,005,936.71	
Reserve Account	71,156.26	
Interest Account	46,684.81	
Costs of Issuance	29,754.02	
Underwriter’s Discount	23,700.00	
Total	$1,177,231.80	

PROOF OF ARBITRAGE YIELD
$1,185,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)

Date	

Debt Service	Present Value to 11/12/2020
@ 4.1343115166%	
05/01/2021	22,606.68	22,176.54	
11/01/2021	24,078.13	23,141.62	
05/01/2022	44,078.13	41,505.74	
11/01/2022	23,678.13	21,844.72	
05/01/2023	43,678.13	39,479.99	
11/01/2023	23,278.13	20,614.61	
05/01/2024	43,278.13	37,549.96	
11/01/2024	22,878.13	19,448.02	
05/01/2025	47,878.13	39,875.50	
11/01/2025	22,378.13	18,260.25	
05/01/2026	47,378.13	37,876.93	
11/01/2026	21,878.13	17,136.46	
05/01/2027	46,878.13	35,974.53	
11/01/2027	21,378.13	16,073.43	
05/01/2028	46,378.13	34,163.79	
11/01/2028	20,878.13	15,068.10	
05/01/2029	50,878.13	35,975.92	
11/01/2029	20,278.13	14,048.27	
05/01/2030	50,278.13	34,126.20	
11/01/2030	19,678.13	13,085.99	
05/01/2031	49,678.13	32,366.97	
11/01/2031	19,078.13	12,178.30	
05/01/2032	49,078.13	30,693.95	
11/01/2032	18,478.13	11,322.35	
05/01/2033	48,478.13	29,103.05	
11/01/2033	17,878.13	10,515.47	
05/01/2034	52,878.13	30,471.71	
11/01/2034	17,178.13	9,698.63	
05/01/2035	52,178.13	28,862.71	
11/01/2035	16,478.13	8,930.39	
05/01/2036	51,478.13	27,333.76	
11/01/2036	15,778.13	8,208.17	
05/01/2037	55,778.13	28,429.46	
11/01/2037	14,978.13	7,479.56	
05/01/2038	54,978.13	26,898.16	
11/01/2038	14,178.13	6,796.19	
05/01/2039	54,178.13	25,443.95	
11/01/2039	13,378.13	6,155.59	
05/01/2040	58,378.13	26,317.14	
11/01/2040	12,478.13	5,511.27	
05/01/2041	57,478.13	24,872.48	
11/01/2041	11,550.00	4,896.80	
05/01/2042	56,550.00	23,489.68	
11/01/2042	10,621.88	4,322.75	
05/01/2043	60,621.88	24,171.40	
11/01/2043	9,590.63	3,746.57	
05/01/2044	59,590.63	22,807.54	
11/01/2044	8,559.38	3,209.64	
05/01/2045	63,559.38	23,351.14	
11/01/2045	7,425.00	2,672.63	
05/01/2046	62,425.00	22,014.81	
11/01/2046	6,290.63	2,173.52	
05/01/2047	61,290.63	20,748.11	
11/01/2047	5,156.25	1,710.14	
05/01/2048	65,156.25	21,172.32	
11/01/2048	3,918.75	1,247.60	
05/01/2049	63,918.75	19,937.40	

PROOF OF ARBITRAGE YIELD
$1,185,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)

Date	

Debt Service	Present Value to 11/12/2020
@ 4.1343115166%	
11/01/2049	2,681.25	819.39	
05/01/2050	67,681.25	20,264.54	
11/01/2050	1,340.63	393.27	
05/01/2051	66,340.63	19,066.71	
	2,102,400.68	1,177,231.80	
	
Proceeds Summary		

Delivery date	11/12/2020	
Par Value	1,185,000.00	
Premium (Discount)	-7,768.20	
Target for yield calculation	1,177,231.80	

BOND DEBT SERVICE
$1,185,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/12/2020						
05/01/2021			22,606.68	22,606.68	22,606.68	
11/01/2021			24,078.13	24,078.13		
05/01/2022	20,000	4.000%	24,078.13	44,078.13	68,156.26	
11/01/2022			23,678.13	23,678.13		
05/01/2023	20,000	4.000%	23,678.13	43,678.13	67,356.26	
11/01/2023			23,278.13	23,278.13		
05/01/2024	20,000	4.000%	23,278.13	43,278.13	66,556.26	
11/01/2024			22,878.13	22,878.13		
05/01/2025	25,000	4.000%	22,878.13	47,878.13	70,756.26	
11/01/2025			22,378.13	22,378.13		
05/01/2026	25,000	4.000%	22,378.13	47,378.13	69,756.26	
11/01/2026			21,878.13	21,878.13		
05/01/2027	25,000	4.000%	21,878.13	46,878.13	68,756.26	
11/01/2027			21,378.13	21,378.13		
05/01/2028	25,000	4.000%	21,378.13	46,378.13	67,756.26	
11/01/2028			20,878.13	20,878.13		
05/01/2029	30,000	4.000%	20,878.13	50,878.13	71,756.26	
11/01/2029			20,278.13	20,278.13		
05/01/2030	30,000	4.000%	20,278.13	50,278.13	70,556.26	
11/01/2030			19,678.13	19,678.13		
05/01/2031	30,000	4.000%	19,678.13	49,678.13	69,356.26	
11/01/2031			19,078.13	19,078.13		
05/01/2032	30,000	4.000%	19,078.13	49,078.13	68,156.26	
11/01/2032			18,478.13	18,478.13		
05/01/2033	30,000	4.000%	18,478.13	48,478.13	66,956.26	
11/01/2033			17,878.13	17,878.13		
05/01/2034	35,000	4.000%	17,878.13	52,878.13	70,756.26	
11/01/2034			17,178.13	17,178.13		
05/01/2035	35,000	4.000%	17,178.13	52,178.13	69,356.26	
11/01/2035			16,478.13	16,478.13		
05/01/2036	35,000	4.000%	16,478.13	51,478.13	67,956.26	
11/01/2036			15,778.13	15,778.13		
05/01/2037	40,000	4.000%	15,778.13	55,778.13	71,556.26	
11/01/2037			14,978.13	14,978.13		
05/01/2038	40,000	4.000%	14,978.13	54,978.13	69,956.26	
11/01/2038			14,178.13	14,178.13		
05/01/2039	40,000	4.000%	14,178.13	54,178.13	68,356.26	
11/01/2039			13,378.13	13,378.13		
05/01/2040	45,000	4.000%	13,378.13	58,378.13	71,756.26	
11/01/2040			12,478.13	12,478.13		
05/01/2041	45,000	4.125%	12,478.13	57,478.13	69,956.26	
11/01/2041			11,550.00	11,550.00		
05/01/2042	45,000	4.125%	11,550.00	56,550.00	68,100.00	
11/01/2042			10,621.88	10,621.88		
05/01/2043	50,000	4.125%	10,621.88	60,621.88	71,243.76	
11/01/2043			9,590.63	9,590.63		
05/01/2044	50,000	4.125%	9,590.63	59,590.63	69,181.26	
11/01/2044			8,559.38	8,559.38		
05/01/2045	55,000	4.125%	8,559.38	63,559.38	72,118.76	
11/01/2045			7,425.00	7,425.00		
05/01/2046	55,000	4.125%	7,425.00	62,425.00	69,850.00	
11/01/2046			6,290.63	6,290.63		
05/01/2047	55,000	4.125%	6,290.63	61,290.63	67,581.26	
11/01/2047			5,156.25	5,156.25		
05/01/2048	60,000	4.125%	5,156.25	65,156.25	70,312.50	
11/01/2048			3,918.75	3,918.75		
05/01/2049	60,000	4.125%	3,918.75	63,918.75	67,837.50	

BOND DEBT SERVICE
$1,185,000
Cypress Park Estates Community Development District (City of Haines City, Florida)
Special Assessment Bonds, Series 2020 (Assessment Area 2 - 2020 Project)

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt Service	
11/01/2049			2,681.25	2,681.25		
05/01/2050	65,000	4.125%	2,681.25	67,681.25	70,362.50	
11/01/2050			1,340.63	1,340.63		
05/01/2051	65,000	4.125%	1,340.63	66,340.63	67,681.26	
	1,185,000		917,400.68	2,102,400.68	2,102,400.68	

Acquisition and Construction Account

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(4.134312%)

11/12/20	Beg	Bal	-1,005,936.71	-1,234,328.58	
12/24/20			-420,819.63	-513,904.85	
12/28/20			420,819.63	513,671.24	
08/10/21			407.89	485.48	
08/10/21			7,324.00	8,717.22	
08/10/21			4,040.00	4,808.52	
08/17/21			2,930.51	3,485.20	
08/20/21			60,780.00	72,259.82	
08/20/21			15,648.03	18,603.55	
09/08/21			-60,780.00	-72,112.12	
09/16/21			2,550.00	3,022.68	
09/16/21			2,744.80	3,253.59	
09/16/21			1,480.00	1,754.34	
09/20/21			251,985.11	298,558.92	
09/28/21			27,817.22	32,928.65	
10/04/21			-1,480.00	-1,750.76	
10/04/21			1,480.00	1,750.76	
10/04/21			-1,480.00	-1,750.76	
10/07/21			685.00	810.04	
10/07/21			1,125.00	1,330.36	
10/07/21			1,125.00	1,330.36	
10/07/21			685.00	810.04	
11/05/21			630,820.35	743,599.97	
11/05/21			49,621.02	58,492.39	
11/05/21			6,810.00	8,027.51	
08/24/23			-35,578.13	-38,956.31	
10/16/23			35,813.90	38,983.35	
11/12/25	TOTALS:	617.99	-46,119.37	

ISSUE DATE:	11/12/20	
REBATABLE ARBITRAGE:	
-46,119.37	
COMP DATE:	11/12/25	NET INCOME:	617.99	
BOND YIELD: 4.134312%	TAX INV YIELD:	0.064938%	

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(4.134312%)

11/12/20	Beg	Bal	-71,156.26	-87,311.86	
12/02/20			0.22	0.27	
01/05/21			0.36	0.44	
02/02/21			0.36	0.44	
03/02/21			0.33	0.40	
04/02/21			0.36	0.43	
05/04/21			0.35	0.42	
06/02/21			0.36	0.43	
07/02/21			0.35	0.42	
08/03/21			0.36	0.43	
09/02/21			0.36	0.43	
10/04/21			0.35	0.41	
11/02/21			0.36	0.42	
12/02/21			0.35	0.41	
12/30/21			0.01	0.01	
01/04/22			0.36	0.42	
02/02/22			0.36	0.42	
03/02/22			0.33	0.38	
04/04/22			0.37	0.43	
05/03/22			0.35	0.40	
06/02/22			17.94	20.66	
07/05/22			40.96	46.98	
08/02/22			71.51	81.77	
09/02/22			107.72	122.76	
10/04/22			123.06	139.74	
11/02/22			161.18	182.44	
12/02/22			196.42	221.57	
01/04/23			221.92	249.43	
02/02/23			236.29	264.74	
03/02/23			226.48	252.88	
04/04/23			256.01	284.82	
05/02/23			258.52	286.69	
06/02/23			281.24	310.83	
07/05/23			275.27	303.09	
08/02/23			287.61	315.71	
08/24/23			35,578.13	38,956.31	
09/05/23			260.01	284.34	
10/03/23			144.59	157.62	
11/02/23			149.70	162.65	
12/04/23			145.21	157.20	
12/22/23			0.04	0.04	
01/03/24			150.01	161.86	
02/02/24			149.28	160.54	
03/04/24			139.07	149.02	
04/02/24			148.35	158.46	
05/02/24			143.25	152.49	
06/04/24			148.10	157.08	

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(4.134312%)	
07/02/24	143.28	151.49	
08/02/24	147.85	155.79	
09/04/24	147.25	154.59	
10/02/24	137.67	144.07	
10/31/24	Bal	35,578.13	37,114.84	
10/31/24	Acc	142.26	148.40	
11/12/25	TOTALS:	5,064.30	-5,693.52	

ISSUE DATE:	11/12/20	
REBATABLE ARBITRAGE:	
-5,693.52	
COMP DATE:	11/12/25	NET INCOME:	5,064.30	
BOND YIELD: 4.134312%	TAX INV YIELD:	2.073442%	

ARBITRAGE REBATE CALCULATION DETAIL REPORT
FUTURE VALUE @
RECEIPTS	BOND YIELD OF
DATE	DESCRIPTION	(PAYMENTS)	(4.134312%)

11/12/20	Beg	Bal	-46,684.81	-57,284.31	
12/02/20			0.15	0.18	
01/05/21			0.24	0.29	
02/02/21			0.24	0.29	
03/02/21			0.22	0.27	
04/02/21			0.24	0.29	
05/03/21			22,606.68	27,205.41	
05/04/21			0.23	0.28	
06/02/21			0.13	0.16	
06/22/21			-60.10	-71.92	
07/02/21			0.12	0.14	
08/03/21			0.12	0.14	
09/02/21			0.12	0.14	
10/04/21			0.12	0.14	
11/01/21			24,078.13	28,395.79	
11/02/21			0.12	0.14	
05/02/22			-24,018.03	-27,748.09	
05/02/22			24,078.13	27,817.53	
11/12/25	TOTALS:	2.05	-1,683.14	

ISSUE DATE:	11/12/20	
REBATABLE ARBITRAGE:	
-1,683.14	
COMP DATE:	11/12/25	NET INCOME:	2.05	
BOND YIELD: 4.134312%	TAX INV YIELD:	0.006006%	

	ARBITRAGE REBATE CALCULATION DETAIL REPORT		
	
RECEIPTS	FUTURE VALUE @ BOND YIELD OF	
DATE	DESCRIPTION	(PAYMENTS)	(4.134312%)	
11/12/21	-1,780.00	-2,096.56	
11/12/22	-1,830.00	-2,069.03	
11/12/23	-1,960.00	-2,127.16	
11/12/25	TOTALS:	-5,570.00	-6,292.76	

ISSUE DATE:	11/12/20	REBATABLE ARBITRAGE: -6,292.76 COMP DATE:	11/12/25
BOND YIELD: 4.134312%

Section VII

MEMORANDUM

TO:

FROM: DATE: RE:

Cypress Park Estates Community Development District Board of Supervisors
Governmental Management Services—CF, LLC February 6, 2025
Qualified Public Depository Interest Earning Options & List of Qualifying Public Depositories

The purpose of this memorandum is to outline the District’s investment options in accordance with the District’s adopted investment guidelines, established by Resolution 2020-14 and pursuant to Section 218.415(17), Florida Statutes.

Current Operating Account and Interest Rate
The District’s operating account is currently held at Truist Bank. Recently, the District Accountant met with Truist to negotiate an interest rate for the account. As a result, Truist has approved an interest rate of 2.46% for the operating account. This ensures that the District earns a competitive return on its liquid funds while maintaining immediate access to cover operational expenses. The Board may discuss whether additional investment strategies should be considered to further optimize returns on excess funds.
Per the adopted guidelines, the District may invest in the following:

The Local Government Surplus Trust Fund, or any intergovernmental investment pool authorized pursuant to the Florida Interlocal Cooperation Act, as provided in Section 163.01, Florida Statutes.
Securities and Exchange Commission registered money market funds with the highest quality rating from nationally recognized rating agency.
Interest-bearing time deposits or savings accounts in qualified public depositories, as defined in Section 280.02, Florida Statutes.
Direct obligations of the U.S. Treasury

Qualified Public Depository Interest Options
The following Qualified Public Depositories offer competitive interest rates for money market accounts:

Bank United
Public Funds Money Market – 3.75% APY
USBank
Custody Account Money Market – 4.25% APY
Truist Bank
Public Funds Money Market Savings – 3% APY
Wells Fargo***
Stagecoach Sweep – Money Market Mutual Fund – 4.26% APY

The Local Government Surplus Trust Funds/Intergovernmental Investment Pool, per 163.01 Florida Statutes Options

State Board of Administration***
Local Government Surplus Funds Trust Fund – 4.70% APY
Florida Fixed Income Trust ***
Cash Pool Money Market Alternative – 4.70% APY
FLClass ***
Florida Cooperative Liquid Assets Security System – 4.46% APY

***Funds are not insured or guaranteed under these options.

Listing of Qualified Public Depositories
The following banks are banks that GMS has experience with:
Truist Bank
Wells Fargo
Bank United
Regions
Hancock Whitney
South State
Valley National
City National Bank
PNC
TD Bank
Synovous

RESOLUTION 2025-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE DISTRICT MANAGER TO ESTABLISH AN ACCOUNT WITH THE STATE BOARD OF ADMINISTRATION; APPOINTING THE DISTRICT MANAGER AS ITS LEGAL REPRESENTATIVE WITH RESPECT TO SAID ACCOUNT(S) AND PROVIDING FOR THE DURATION OF SAID AUTHORIZATION

WHEREAS, the Cypress Park Estates Community Development District (the “District”) is a local unit of special purpose government created and existing under Chapter 190, Florida Statutes, and situated within Polk County, Florida; and

WHEREAS, the District finds that from time to time has funds on hand in excess of current needs; and
WHEREAS, it is in the best interest District and its landowners that said excess funds be invested to return the highest yield consistent with proper safeguards and the Districts currently adopted policies regarding the deposit of public funds.

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT:

That the District Manager, Governmental Management Services-Central Florida, LLC, (“GMS”) and its designee, as legal representative(s) of the District is hereby authorized to act as the administrator(s) for funds held at the State Board of Administration.

The District Manager and/or its designee shall have the authority to establish an account(s) on behalf of the District with the State Board of Administration, withdraw funds from or transmit funds to said account(s) at the State Board of Administration, establish funds transfer instructions, name designee(s), and initiate changes to this information via the Investment Pool Input Document.

That this authorization shall be continuing in nature until revoked by District or until a new legal representative is appointed.

THIS RESOLUTION INTRODUCED AND	ADOPTED	by	the District at
its regularly scheduled meeting this 6th day of February 2025.

ATTEST:	CYPRESS PARK ESTATES
COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section XII

40931040

_..,...-·~	•• • ,	• • •	• •	EQUIPMENT FINANCE MREEMl!NT•· ,-, · ·	. .	. :J

Equlpmont Doscrlptlon I Qunnllty I Sorlal #/ VIN#
(Plnyi,0011r! Por Invoice #13876  1		ll'enn In Monlh1: 60		"lrst PGymont:	Sl	,001.45	
				I.UtPayment:	$1,C57A5
ISocurlly Depoell:	$000
Othnr:	$226,00

NITJAL AMOUNT OUE:	$2,33fJ.90	
		Monthly Payments: K,o@ $1,057.45			
:::qulpn1enl LocalIon l<l'll'conl\llhllll llbol'I• oddtos5)
mo BBklll'Deir,; Rolld Hol O$C/1\1FL 33844		/\mount Flnanced:$49,910.00			
'._·.	- • • ':' -: . · ,  ,TERMS ANO CONDITIONS (PAGE I OF 2)	PLEASE READ CAREFUL1.Y BEFORE SIGNING	

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on

1	Yo1J wnnl lo atquiro tho abovo oqulpmenl rEqulP.ment') from a vend01 sf!lr.Gted by yoo ('Vl!l1dor') and have roquosted that we llnanco Ura purchanc prko [Of yo11. You uncondmonnlly protnlsolo!ay us lhe sum of all of lho monlhly p ymenls lndlCllleduboYo or any scl1edu\o ('Pnyrnonts· and you agreo lo II o, !he terms stnlod In lhla /\greamont. You aulho zll us to IMerl any qulprnont ser!AInumbers an olhor l ontificaUon daln nnd ony 0U1nr omillcd facisand lo cor,ecl obvious orrois. Wo may Adjust Ille monthl/ payment a,no\int to r,nont11 ooy,xos duo al U10 lncopUon of Ulis Agreement or 1r ll1e IIC\ual cos! of theEquipmentIs lass than 10% hli_ih r or lower than1he amount that 1110 Paymonl amount was bllsed on, Al 011r dlsclotf 11 wo rnay applr MY a111ounts received from you lo ony 11mo1ml you owe under lhls Agreem nl,

4,  O W Rw  O AO,ffCV1WP. ARE FINANCINGTHE EQUIPMENT FOR YOU "AS
,s,:weA	RRAN ES, EXPRESS OR IMPLIED, INCLUDINGWARRANTIES Of NON,INFRINGMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR ORDINARY use IN CONNECTION WITH THIS AGREEMENT, Ncllhor1110VendOI nor any

2.Ifil!.M; Thr. flgrosmanl sMII become effccllv fl/ld shnl\ comme11ce only allor you direct us lo mako dl1bursen1onls lo your Vendor. wo npprovo your V ndor'slnvolco, we signthis Aorecme,,t and we rnnke lho lnl1fal dlsbursom nt or 0/lY lolor dole lhal we <1es1on I ('Communeme111 D IOl, The termof this Agreement shall tornu1010 upon th dalo 111a1 oil of !(Ollr pnymanl 011d olhcr oblluntlOils hnvo been paid and saUsOed n full trorm'). Tho lnillel Amount Due &hall b& lluo on tho Cor11mcnocme111 D,110 nod subsequonl 111onl111y pa_y111onts re duo on tho day wo SCIC(JI, pnyoblo to O locatlori lo be de,Jgnaladby us. YOUR OBLIG/\TION TO PAY ALL PAYMENTS AND OTHER OB IGATIONS TO US JS UNCONDITIONAL ANO NOT SUSJEC

horeundor,

DER THIS AGREEMENT WITHOUT OUR PRIOR

SELL, TRANSFe 1 ASSl<lN OR LEASE TME

oo you and you agree thnt Ir wo do, (I) lhe new

or transfer this Agroomont or any pnrl of I and/or

d benortls that wo now hove but w,11nol havo to
,	of 1110 new Secured Pru1y will no\ ho subJoct to any

NO'r SE CANCELED FOR ANV REASON WHATSOEVER AFTER COMMENCEMENT EXCEPT BY YOUR PAYMENT AND SATISFACllml OF ALL OF YOUR OBLIGATIONS
HEREUNDEfl, Wo havo th rlohl, bul not the obllgnllon, lo oleelro11lc.itly withdraw f	n

TO ANY REDUCTION, SET-OFF1_DEFENSEOR COUNTERCLAIM, THIS AGREEMENT M

IM you may havo 119nln$1 us or the Vendor, end {Ill) you will nol or setolfs whotsoevo, against us or the new Secured Pdrty
' /\s sccur!ly for the po!f rmanco of all yollf QblignUons Mroundar, you

provldo us with any bnnk accountln(omrnllo11 we roquest in order lo procer,aclo'. ,.,...,'"!o.':

yow bn11 account to poy for My unr,nld Pnymonls o, 0U1or amQunts du9 hero2

any s tv1ffro.13y signing tho Pay ProceedsDruaUon I tho end of!his Agro u$ lopny your Vundor, ollhoran 11 propnynicm lo yoor Vendor lo lnlllaled accop\anco or lh& Equlpmenl when II i do!:vlltod. ·You hereby grant I

3. l;fil.JI I  T.. VO\! noreo lhnl you lire lho ownor of nndhave tilie lo tho E

nvn	<kh-':-d'1'1"'v,;;'lh"'"'us"'+.'-lho amount $6110111l1u U,o soctlcn showna ·s ·urltyD pusll'. Wo have rlahl			nol obligated,10 pply thn ec1.1111y doposlt at soy tlmoto any r1m011nt you owo. doa y				fully perlomu,d all ol lho provlsJor,s ol 11119 Agrcomant. wn will leturn lo you en rcn	ng bnlanco of tho &C<lwitv d posit. We will not keep lhe si!Wlity depasll
go	10from nllr Qenemt fundsMd you mhnRoolbu en!illQd to any lnloro 1t1orco11.

ry or uron your

µ111 11110 monoy a11t111llylnlerest In th Equlpmenl 011 ell roploccmonts.

a firs priority, 7.	Wa>:c-¥""'--:-'":"''-'-l "-"'.+'' You are IO!lP0051ble for lntlAllfrlg nnd koap\ng lhe

accessions and nllachmenlsnow or ho1ea1tar mnde n part 01o1111r11111111110nt,	ca h onQ

rnonl pa1ts1 E

ass 01 cornmorclal 11urposos and In cornplloncewith all nppticahlo 11!\118, ordinances or

ant In a o,,I wo1 no or er and pair. Yori wlll koop and OG(l u,e Equ11101on1 only for

nun,oMh procood.,, and 1111 gonernt lnlan9lblos, eceourrls""" fflll'l!li'aper ar

I lions and ooty al your addtoss shown on !his Agrel!meol unless we ogroe lo another

Yoo agroe, al your oxponse, lo pro1oel nnd defend our 11	s In the ulpmo t	,.._ t>¢8tlon. Vou will nol make any nlUi/Allons 10 lhe Equlprnont wiUioul our prtot w llen consent,nor

us, rled or made &gains! you or tho Equipment. 'i'ou	ea we have the liO
Eq1J\pntcn1upon re sonablo notice to yQU.

shallal alllimes keep lho Equipment froefrom HII IC!lnl	, lien& and othor e

wlll you porrnonenUy attach the Equlpmnnl to any real ostolo. In lhe event Ill& EquipmentIs lost stolen or damogad, so long as you ore 1101In dofnull hereunder, you shall have lhD 0111\011 within

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By stoning!hit i\groan,ent you acHnowlodge that you h •	d Iha t&rrnl ao<i cont1\Uon1 on oach pago of thlt Agreement, and you warrant that the person 1lgnlng this Agmmonl on your boholr has the oulhorlly to do so and	,nnRII-IIOWDllf attorney set forth In Section 13 of this Agreement.

5/27/22

olhor pei,011 Is our 09ent, nor are !hey aulhQnicd to waive 01 ohaogo any term of !his Aarcomanl,No 1eprc$cnlollo u111enty 01 warranly by lhoVondor or othor person In bindingon us. Na breach tly !ho Vond II rcllevo or excuso yo11r obllgallons 10us. (I you entored into n malntaoanae or sotvlrro o cnt the cost of whlth Is lritJudoo In tho Poymun\s, you acknowledgo WO 1110 no\ 8	to suoh f!!l(OOOl!mta ond nro nol responslblo for , nr scrvlco, repairs. or rna!nlenancoof tit lpmenl. IIyou hevo n dlsputo wl!h yom Vondor obou doITvary, lnslallnUon, sot\lk:o 01 nny o  111a11er, you mus! continua lo porlorm all your ohllgnllons,

:Nor<il21NePpIuTrIpQnN.mALoRllPs.iArlofmNJiYil·y, )'ou· and )'oul" rofor tolho poroon 018k1ng thaguaranty. 'Wu', 'u1,· and "ow' /elCJ 10 the Secµ1ed l'artV, our succosaors or assigns. You ae nowlcllgr, Iha\ you hRVe ,ead nn understoodlho Agroomonl nnd lh\ij GuarHOtyand lhnt lhls ts on lrruvocablo, Joint, sGvcral fl!ld aonllnulng guamnW, You agree that you have an lntorost In the Borrower's busrness, econornle or olh twlso, ond lhol wo wooldnot onle.rInto !his Anreeme111 w1lho1rt lhls Guntanty You uncondillonntly guAtont)' lhnt Iha Borrower will fully and promptly pny all ilaobligallons u11dor 1t10 i\groomanl and any !Uturo AJ],oomcn15 withus vhen lhoynro duo nnd1•AIIperform elllls oti11!( obllyalions u11der u,o Agreernenl oven If wq modl!V or rcnowU10 i\greemonl 0/ If onv payments mado by th llorrowor are 1esolndedor relurnod upon 111 lllsolvoncy, bankruplcy or ro0111anl111tlQ1o1l Ute Borrower, ns If lho payment had not boon mnde.We do no\ hovo tonolll,yyou If lhoBorrow.orls In dolaull under lho Agr nten1. II tho Bo,rowar dofpulls,you wlll lmmedl taly pay and perform oI obllgal\ons duo undor lho Agroomont. You asrae that you WIii not bo roloasod or rllschargetl II wo:(I) fll t lo porfcct soerrrl!Y lnlorosl In lilo Equipment or sny olhor property whlth socu1 s t110 Oblklotlons of Bonowor or y011tous(·Co ateret'); 111) fall loprotoct tho Collato,al; o, Qli) nbnndan Of rclcaso IhaCollateml or 1111y 0bllg01 un!lor lhoAoroomonl or this Guamnty. You agroo thnt wo dn1101T1nvc 10 pro ood fffl)l annlnst lho llorrowor or nny Collaler I.You horoby walvoony rtglll of cxon01al!on, notico or ncccplancoot tllls Guaranty and" au oU1 r notlcM or demand$ o, ny kind In whleh you may bo onlllllldto excepl for demMd f0< pay111enl. You will rolmburao nil oxpcnse.s wo Incur in enforclno our rights ngnlnst Bortowor or you, Including, wtthout llmllnUan, PIIOrnay·s 1009 nd cosls. WQ m6y obtnln lnfnnnnUon rron1 end r port lo c,orJI\ rcporUr 1 1111oncios to entor Into l o Auroomonl or 10 onrorcalhls Guurnnty. VOil 0nnscn110petso11BI furi, dlc\lon, forum. cho\coof law and jury lrinl nnd transfer of vonuo11/illvor in slolodIn cocillin l'f. YOU AND WEEACHWAI\/E T IAL BY JURY tN ANY ACTION REL.ATINGTO THE AGREEMENT OR THISGUARANTY. Thi Guaranly n,oy \Jo o ocutcd by ler:smlto, lectro lo 01 original algnnlureond such copyhnllb troatetlns M otlglnat fornil JJUrposos.

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,, i.Slno11'	X; -.-------  _ _ _	O ll.filQM • 	
J4i,..-1..ht1)	f• •J
P11 1N,lll. · ------------------------ PrlnlllJlma:.,,..	,	 _ 	

ono week oJ suct1 event lo:(1/ ro11a r orreplsoo tneEquipment or \11 pny lo us tileunpaid bnlhnco of lhornninlnlIIu payrnnls 1ereumlor discounted to prQsonl vau11 ll! lho rale ol lhroo porcenl
13.%) (or '11th groalcr aIn01J11t11101msy be req1)iredlly low) plus nny Olhor mnoun11 (luo or to bacotne duo f1Qrellnder. UNDER NO CIRCUMSTANCES ARE WE RESPONSIBLE FOR SERVICE OR MAINTENANCE ON THE EQU!f>MENT.
8 TA ' You w1q pay whan duo to your oporopIlotc lllilno aulhOflty, all toxos, fines and Penn I cs r lnlli\1l1o lhls /\groomcnt or lfio l!qulpmMI, nnd any appllt.iblc rcgl5lllltlon or tillln ICl!Sor olhor ooveinmootal charuos, tlml nro no'II or In lho future assessed 01' levied Y nny oovo1nn1ont nuthorllyoriequlr d for tho l;iwfulptlSsesslur,and uso or lllo Equipment.S loo taxes aue upon tho purchaso oflh Equfpmonl and ony olhorsuohgovommontol charges,If lncludod In lho pu1chaso pr101J, moy ho financed horcunde/.

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9,INDEMNITY: Wo aro not rospo11slbl1l1or ony lnj\ufos or lo es to you or ;iny od1orperson or propertycaused by lholnstaUalfon, oporallon,m lntana oo, ('N10ersl1lp, r.ossossloo uio or lho Equlpmo/1I. Yau agr o lo reimburse us for, IIQld us hormless from, antl uefnnd un nsa1nsl ony claln11 modo ngnlnsl us, and for !05,5es or lnJ111fu suffered by ull, lnclu1Ilny, will10111ll1111tallon, lhoso arisingoul of !he nenflaonce, lorl or Sim:\ llalllh\ycl.ims. This lndon1nlty shall conUnu ovan after theTerm ha11 oxplrcrl.
10,IN§URANCE: You ugr o la malrtlaincomprohonslvo!lohilily 1t1so1oncoe<:eo1ilablo to us. You 11Is0 ngrooto rna\ntalotnsuraneo ogalnst lholossor or damnge10 I1\e EQulpmeot for an amo11nl not lll.\s limn lhoreplatemant cosl 1111d nnmo us nod our 11ssl{J1Isas loss poyec II yoII fall lo llrncly1>rQ11ldosuch proof 10us, wo may, but are hot obllgalodfo, obtain proporl)I losslnsurnnr.e 1r, prolocl our I111orosla In Iha Equlp111onl. II wo &ecurernsumncoIn lhc fotm and nmou111s wa do rn rell$onoblc:(I) you wnl relmburgotho premium, wltlthmay ba hlghor than a ptcmiumlhal you nllghl pay II you abta!Md \rm rnsurnnae, (II) thepremium may Include a profll Jous nnd/or oneof our affiliates lhrouyh on lnveslmC!lltIn rolnsurancoor olhe(Vl,sol ond (Ill) we 1'111! not rmmo you ns an lnsuretlparty nnd your lrllorestsmoy nol bo fullyprolecJea. Any ln 11rif1co proceeds reccirnt 10, the Equipment will e npplled, at our opllon,to ropnlr or replaceIlla E11ulpmo111, or to 1110 rnmnl"i/19 paymeot5 1h10 or thnt!Jooomodue ha1ouI1dcr. discountedat Ul!eoprtrcont (3%) (or suchgroator emounl thnlm y bo r quire<! by lal'I).

1

1I. D.E.EAUJ.I;, YQ\i w,1b1o Inoerault ii: (f) you donol PllY nny amount when d110;(II)you l)rc!lk nny olyourpiiimlsoo or reprooonla on5horounder or under ony other ngroeme11t wllh us,(111) you become lnsolvcnl, cofM\etlCO dissolution proceedings, assign your ass ts tor tho benofil oryour crcdilors or a l/uGlooIs npp<ilntotl lo tnko control of your OSSllls; (fJ) you or any gusmntor enters (volunlan!y 01 lnvolunl.r!Hly) lnlo a bankruptcyor other I11solvcnay,rolntod proceodino; M you dolnul! on My obllg tloos to ony or your 0U1er croduors; (vi/ you llevo mndo any on\tw or mlsle dlnorep1osonIaU0flGlo us: (vii) any guarantor dle i or (vf1)you ch noe your nan10, state orgAnlwHon, Gllle( oiocutlllo olfi o and/or pl co or rosioonco without prov\dlno us with 30 day& prlor written nollco ofsuch change,
12	11l1ho ovont 0111 ofoutt by you. we can: (1) CDnccl !his Agr youlilileJOiilfiindor ny otllor agreement you havr. wllh us, R d oxerc!so providedlo uslhcrcuodor;(111)di blo U10 Equfpmenl or requlro!hut you ship al yow oxpon ; (Iv) ocaolerato end demand that you pay all thoremaining thls flgroornent diGCounto<llo prosont vRtllaat three percent (3%) (or such mny bo rcqulrodhy low) togclhor with MY oll1ur nmotrnts doc no1eundor, and llio ramedies uv llobto lo un un(lor 010 UCC or nny olhor lnw, lncludlno Equlrnienl or 01hor Colfatnrnl. lnterc.;1 shalt ac ruo on all nmcunls due uelnull ur,til p !d nt lllorllle of tho loSller or (1) ono and o
lho mnxlmum l'lllO pornrltl d hy law ('Rcmodylnteros chargos, co I . oipoMllS anrl nltomey'G fee&lhat w yo11 return the Equlpntenl pursuant to cln11se "ji
Equlprnont, you il!)rea lo pay Ihacost of ropossoss	eelllng 01
leaslno lheEqulpnianL Yoou ,eolhnl wo do notha	01 toasfng

  :il

1110 Esurpmenl o copl n, 1ilhorwlso ,oqulro<l by la	011lllied to AIJIU\dM lho E(1ulpmenIIf WO bellovo II loboIn our

1(  S D	• If any pa of ony p,,ymonl 18no\ mndo by you whon duo, you agree o poy us I OQO parconl \16%) or el\ch fl SI d e amount (Ill tho m xlnmfll amount om11tled by low, if less th o 16 i/ol, You agrco lo pay nn adn nlslralNa fee of nny dollars

G

1

m

$60.00) If MY Cll k or ACM ls dlsf1onored or rcluroad. AS A MATERIAL INOUCEIAENTTO S TO E!ffERINTO THIS AORBEMENT AND FINANCEYOUR EOUIPMB.NT, YOU AGREE THAT IF ANY PAYMENT, CHARGE OR FEE BILLED OR COLLECTEDBY USI FOUND TO EXCEED THE MAXIMUMAMOUNT ALLOWED BY LAW, THEN (ll WE MAY MOOlfY ANY SUCH EXCESSIVE AMOUNT BILLED SO t\S TO MAKE IT NOT EXCESSIVE, (II) WE MAY REFUND TO YOU THE l!XC!aSSIVE AMOUNT l'OOETHER WITH lt-lTEResf AT THE
"REMEDY INTEREST RATE" {AS DEFINED IN SECTION AND (111) THE FOREGOING SHALL BE YOUR EXCLUS!VI! REMEDY FOR THE BILLINO OR COLLECTING OF THE EXCESSIVE AMOUNTS ANO YOU WILL NOTRAISE ANY OTHER CLAIM, COMPLAINT OR 08,IECT(ONWITH RESPECT THERETO,
filil.lfil; AGREEl,l N1I CH NGES: Tills A ccmenl tonlolns lhe cnllro agreement between youand 1111ol11tngothe1nDncittg ol lho • ufp neut, nnd It m11y nol bo tcrmh1 tcdOf otherwise cir noorl oxeepl rn writing by both ol us. A lmlUngendorsement oo a 0hec or other rormorpaymonl will notbo cllcot 10 to modifyyour obrfgallons or any of tho other termsol lhls Agreornonr, snd wo m y apply , rY 1myrnont recolved wilhoul belng bound by such Jim ting ondorsomonta.
 QMPLIANCE: NOTICES:IrIlho o •antyouInnlocomply with nny tnrnisof lhln Agreement, wo ca , bul we do not have to, leko any action nocessory to ottecl your comptlancaupofl too

lor

(10) days p1lor vlrlllan nQl!co to you. II wo aro rnqulrod lo poy nny ijr\lounl lo olHt.dn your compllm\ce, l\10 nn,01111I we pay plu 1111 or our P.xpens11 In causing your compllanco, ahnll become oddlt oiial obllgallon and st>all ba pAtd lly you tog t or wltn the no ! duo payment This Agreomnn1 Is the efil ol and Is blndlno upon yot,t\ your po1sonal roprc onlntlvos, succoss01s aorJ a5-5 gns. /\  !co requiredby !hisAgrl!OfllOn or theUCC s11011b;i doemod to bo dollvorod when a record t ly directed lo 1110 Intendedreclplool lms been(I) dep1>slted with thoUS Postal Snrvlr.o, nsnillled by racslml!a or lhroughlho Int mol. provldod lhertl Is rcnsonably suffk:lonl proof t. II W;JS receivedliy tho Intended rociplr.n1I r (U9 hos oen peraon IIY dol  .

1:1. 13.QB	E	SE T	O	!ZAILO	ctr hereby
ropresoiif, worren an prom so to 115 I at you haveh d n	y lo study this t\gre meol end consult your legal and ol or advisors bel01e sl{i ,  1ls Aor 01110111 ts eriror oablo 11!Jolnst you 111 aceordanoo wilh Its Iorms: (11) you ,ue not subjectloany bankruptcy
proc:cedtno: and (di)II thisdocument was sanl by you10-us0I00Ironicolly, hasnot bMn nllored In !lf\ywny Mdnnv olloro on Cf ruvlslon lo a y part ii lhls ar eny ottechLid docurnenlswill make all suoh eflcrntlans or roviskmsnon-lllndlngnnd vol . You l1orobyaull1Q11zo us,nnd nppolnt us or our deslgnoo ag your ollorney-ln-fnc1, lo nooreo ln uranco prQCeods nnd lo oxt1<:ulo and filo f1nancln9. sla\emcnls (naming you 115 ·Onbtor') ehcl documenlB cf. Ullo a1Id rcglGlroUon f pppllwhle) on lhu Equfpmool or CoUnterel, ant! you agrco 10 rclmlJ111sous for our oul•ol-pockol cosl-s relaUngthelolo.

ii"..;,,., .. , .'": •:- - _;

, _ .. .	• • PAY PROCEEDS DIRECTION TO FINANCE AGREEMENT	-

You horobyIrrevocablyInstructuslo pay the \/endotjsl notud bolowfor tho Equlpmont titledon VendOI( ) proposnts 11pp1ovod by Ll6,You hprnby cknowfedge ,thatIha Equipment II s been delivered andI ncceptn\Jle 111 ull respects OR the Equlpmon hos NOT been dellverodb l you tleroby nulhorlzo us tom ke payment 10 lho Vondor(s)In order to lnitlotodel!-lmy, Dlsbursomenl by us In accordnnee with the lorl!goln\ In lrucllQns shall «>"$\ltulo pormont and do!lvory to nd recolplhy yoti 01nny ond all such r>roceeds.

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'1rul!l.9110	v1 g	- ' -- t orl!YJ!IYdlrocUon \o dl1b1u_e0Ju11 •·--	_ 

	Vondor:	Vendor:	

NAVITAS
CRIOIT coR,.

I "UN1nc co1.1,w1◄1tY a.,, cC>MPAIIY

Progress Payment Agreement

Lessee/Borrower/Rentee: Cypress Park Estates Community

Agreement#: 40931040

 Develo ment Dlstric	

In reference to the Agreement # 40931040, between Lessee/Borrower/Rentee and Navitas Credit Corp. as Lessor/Secured Party/Rentar:

You negotiated with your supplier, Logacy Construotlon Services Group Inc ("Supplier"), to acquir the equipment described In lhe Agreeme1,1, (the "Agreement''). Your Suppher r quires the pay nt of all or a substantial portion of the Iola! co I of the equipment (the ''Equipment Advance") lo be paid to Supplier p  to your receipt and acceptance of th

equipment. Al your requ st, we will advance the Equlplllent Advance to Suppll rlor to your receipt and acceptance of the equipment wh n w receive an Invoice acceptable to us, bUI only on the dl!lon that you agree to the followi1)g terms:
To lndl1ce us to inake the Equipment Advance to Supplier prjor to				ceptance of the ec1u!pmet1t. YOU AGREE THAT YOUR OBLIGATIONS (INCLUDING YOUR P					UNDER THE AGREEMENT HEREBY IMMEDIATELY COMMENCE. YOU FURTHER A			THE AGR ENT IS NON-CANCELABLE AND THAT YOU WILL IMELY PERFORM ALL OF YO			NS UNDER THE AGREEMl:NT, INCLUDING MAKING THE MONTHLY PAYMENTS, WITHOUT ANY			 -OFF, EVEN IF: (a) SOME OR ALL OF THE EQUIPMENT IS NOT DELIVERED AND/OR INSTALLED; ( ..,._,,"'""'"."UIPMENT IS UNTIMELY DELIVERED AND/OR UNTIMELY INSTALLED; ANO/OR (o) THE EQUIP	OE  , AT THE TIME OF DELIVERY OR THEREAFTER, OPERATE PROPERLY OR THERE IS ANY tlT.IMEf'-IIIIDNC	RMANCE IN THE EQUIPMENT OR IN ANY SERVICE.

You acknowledge that you understand and the equipment that you shall onl
installer, or Supplier and shall n reference to lhe equipment, Its direct us lo pay the Equipment uricondltlonal In all respects and
A facsimile, electronic, or original signature will be lreated as an origin

you are not satisfied with the delivery or installation of ssor/Secured Party/Rentar such as the manufaclurer,
sor/Sec	Party/Rentor any claim or defense you may hav • wlth
,	111st llallon. Upon your signing below, you authorize and plier and your promises under the Agreement will b Irrevocable and
·n irnmedlately and shall be due continuously herearter.
lure on this Agreement bearing our original or electronic authorized

 NAVITAS CREDIT CORP.	
Lessor/Secured Party/Rentar
1 u
Signature	Trisen Seabrook
Customer Service Represent

Cypress Park Estates Community Development

Lesseel

Distric		

	

Title

Date

5/27/22

Title	'

Date

.a	 lnfo@oavltascredlt.cam

0

www.navltas r dlt.com

H AV Il AS I

CRIDIT toA,.

vulttb coM• utmv BMI K GOMPMa

Corporate Guaranty

Lessee/Borrower/Rentee: Cypress Park Estates Community Development Distric

Agreement #:40931040

To induce NAvrYAS CREDIT Co r. ("L ssor/Socurnd PmlyiRllfltor'') to lr:asc, rent, or fin nce oquipmenl to llm above IrntnA(1 ("LessP.e/Borrti\\l(ll/Honleo") pIIrsI1a11t to Ille lern·m or 1110 A9I·1omoI1t, wl\lch Is Isa rofor ncod above:

Tho undP.rsl,inuu hereby ol1solI1tely anct 11nco11dltionally Gunrnnlees lo l.ossor/Securer1 Party/Rentar full ancJ I>rompl p0ymllnl and porforo1ance wh n duo of 1111ctI 8ml evory ohllgmion of I.a oe/Borrowor/Rentcc l111dor the /l.11roo,nfml.
Tl1n unctorsluned horoby walvos: (i) notice of tho acc11pInr1co lwreof by Lessor/Secured Party/l enlor and of the crnalion and ,ixislonco of \ho Aoroernont. a11r1 (ii) any ancl all dofonws 0Ihe1wlse ovalln!Jt to a gunranlor or acconimodnlion p11r
·1his Guaranty Is abs u,I :ind unr.011clitional. nd tl,e llnblllty of lho tu1tlorslon0d horauoclor shal	I be affeotmi or lmpair1;1d 111 any 1•111y by r111y or
Ille (ollo\•1I119. ooch or v/hlch Lnssor/Scclired Pally/I enlor mny agree lo without tt1e consont or th	dc16lg11od: (o) ony oxtenalcI11or renown! of 11,0 Agrer.lll nt whothor or not ror tongor ll\nn 1110 orlotMI porlort; (h) ony c111moa In the tomio of r>  110111 or other t rms ot tho Agreement orny
collat ml therefor or rrny el<ohan o, rctcnno of, or rallure lo ohtnln any cello ernt lherero	 (c) any waiver ot for oar nc or1111totl to Lossao/Borrowor/R •ntoo or any 0I11e, person llnbl wlll1n'lspo lo the /\greemcm		. cornprornls wltl1, or falt11r 10 a&ort rl ht:-. aoaln I LousoP.10orrowor1Ro,,t o or 1111y suol1 other parson; 1111d (d) lho application or """"""'-• In any 1imllcritm innr111or ar,y poyr11cnls or cro/Jlls M 1110 Agroomonl or 1rny olller ollllo11tlQn osgeo/Borrower/Hcntoe maY,	o&sor/Socur		y/R ,11 r

I	sor/ ec11rm1 l'11rtymo11lor shall 1101bo (ll1lrod bofor nx rr.ltilng m1 • 1116Aoroonlflnl to t.esseo/Boirowor,Rentao or lo 1111y ot11or pornon or p11yrnonl rrom l osseo/Borrow r/Hont e or ony othor person ol>iloeto
llm oblloations uI1!lor the A9rnum rit hav be n fully S(ltlohed.

frrst to r sort ror pnymcut undar s not to ellt:.ilrt r l1T1bur11crrIant or collaloral (or th Auroo111cnt until

The under lgned sl10II be and rornain liuhle for 011y rlellci Aoreoment or the 1.o,soe/1:lorrowor/Hontoe, whether or 1101 U..r'll:rrhM.Jv nc!lon.
ll. Tllo und rsionod 111illlorlzen Lossor/Secured Perty/f e your obtluotlon h ,eunclcr, and aureos to pay all 1 tll\Ch·HIVOri11n to (lr)IOr tho flgrooo,0111 ond lhlB unro
/.	If lltlY f)IIYlllOilt [roIn lhn I. A 8 IBOlfOI
r¢qulrod lo be rnlllmert for  ny ro

a..11,...-11.,alion of bankruptcy or other lnsolvoncy acllons ntfocling Ille sae/Borrower/RorHee is din liorgBd In whole or In [)Ari hy s11r:ll

a Un r Commercial Coclo (UCC) fln ncl1111 slalemrwt evidencing ornay's foos paid or incurr□d lly l.e5sor/S  urnd Party/Honlor In

t1·10 Aoreo111an1 ori(t Is theroaflar sal nsl(lo, mcovorcd, roselr1d d, or l>a11kruptcy of L MO 16t>rrowor/Ronleo). the obllgnllons untlcr tho

A reoI11ont IQ wl1lcI, such pnymenl 11I1pllr,atlClf\, llml this Guornnty r.lmli
IL		If morn 111an one entity signs t11ls G 1rnforc011ble in full aoainst ouch of 111
o.		This Guor.inly slmtl t>lll binding upon t and assigns of Lossor/S cured P;irly/Ro

lNlil• l,illllCiKlarnnlY l;a tlOlHll	IP have continued In existonc 1Iotwltflstu111flr10 Ilr.h
,uf!lln,ltteill'li, ns fully as if s1Icl1applt lion t1a,J,over I.loon 111nd .
of the llndorsi9ned llerounder shall bo joint and sevarat, and this Guaranty llall Im sors and assigns el the undersigned, and shall l11urn lo Ille b0r10 fit of Ille 6Uccessors

·10. Cons11nt to Low, Jurisdiction end Vonuo. I   ,  or/Secured Parly/Rentor assigns Ille Agreomenl 10 a third party, then any clnl111 arlsinu under or related to tills Guaranty will bo adjudicated in a state or fnderal court located within tho co11nty und stalo where 11\ti assignee if; locllletl. If the Agreer111.Hil I not assigned, then lhe Guarontor agroIrn nrnt t11is agreement will be aoverr1ect by tho laws of tho Stal0 or Souttl Carol/1111, wflere lhe lossor/Securnd Party/Renlor maintains offices and consen\s to nd)udh:1 1\on in t11RI state, Each party Wsllves trial !Jy jury. fhls Gtrnrnnty may ho executed by lacslmito, oloGlronlc or originol signature nnd sucti a copy shall be treated i!S an oliglrrnl for RII pur ses.

Guarantor:	l<rpo East Johrwon, Lie

4-

(Nome of COf/)O(UIIOn o,·Plltl1101sl1/p)
Federal Tax ID Number:	$s	i?, A-,	t-:J J 5 5

By:
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Dato:

s·a - odd:.
di lnfo@naVitasc:r dlt. om	c:J  www navltascredlt.com

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311

Cypress Park Estates Amenity C...

Project Name

Invoice #13876
Date	Estimate #	
05/20/2022	13876	

Cypress Park Estates Community Development District
4975 Baker Dairy Road Haines, City, FL 33844

Ship To

Cypress Park Estates Community Development District
219 E. Livingston St.
Orlando, Fl 32801

Customer / Bill To

WE WILL BEAT ANY PRICE BY 5%!

Item	Description	Qty	Cost	Total:	

**SURFACING**				
RMSKGS-MOC...	Ground Smart - Mocha Brown Playground Mulch -	14	499.00	6,986.00T	
	2000lb Super Sack				
GFAB	Weed Barrier	900	0.20	180.00T	
LPIN	Landscape pins for securing underlayment	2	55.00	110.00	
21-APS-brdr8	8" Playground Border with Spike	48	30.00	1,440.00T	
Shipping	Combined Shipping and Freight Charges		3,120.00	3,120.00	
	**SITE FURNISHINGS**				
21-TR32	32 Gallon Regal Standard Trash Receptacle,	1	411.00	411.00T	
	Receptacle Only				
21-B6WBRCS	6' Regal Standard Bench with Back, In-Ground	2	643.00	1,286.00T	
	Mount				
Shipping	Combined Shipping and Freight Charges	1	756.00	756.00	
	**RAW MATERIALS & INSTALLATION**				
TRSH	Fees for dumpsters, debris hauling or other	2	725.00	1,450.00	
	trash/materials removal including spoils from				
	excavations.				
RBAR5	No. 5 Rebar	600	1.25	750.00	
RMC	Ready Mix Concrete 2500 PSI MIN	20	195.00	3,900.00	
FLIFTDAY	Telescopic Fork Lift Daily Rental	1.5	1,308.10	1,962.15	
	Subtotal:	
	Sales Tax: (7.0%)	
	Total:	

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311

Cypress Park Estates Amenity C...

Project Name

Invoice #13876
Date	Estimate #	
05/20/2022	13876	

Cypress Park Estates Community Development District
4975 Baker Dairy Road Haines, City, FL 33844

Ship To

Cypress Park Estates Community Development District
219 E. Livingston St. Orlando, Fl 32801

Customer / Bill To

WE WILL BEAT ANY PRICE BY 5%!

Item	Description	Qty	Cost	Total:	
LBR
CSSD	Labor and Installation- Playground, shades, site furnishings, surfacing	1	12,567.53	14,217.53	
21-SD303012IG	Glide-Square	1	10,954.00	10,954.00	
Shipping	Combined Shipping and Freight Charges	1	450.00	450.00	
	Subtotal:		
$47,972.68	
	Sales Tax: (7.0%)		$1,937.32	
	Total:	$49,910.00	

[Pffi00 [P[1ffiWIBIBQJ[D[lliI)
The  Play & Recreation Experts

Cypress Park Estates Community Development District
4975 Baker Dairy Road Haines, City, FL 33844

Ship To

Cypress Park Estates Community Development District
219 E. Livingston St.
Orlando, Fl 32801

Project Name

Cypress Park Estates Amenity C...

Customer / Bill To

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311

Invoice #13876
Date	Estimate#	
05/20/2022	13876	

WE WILL BEi\T M Y PfOCE llY 5%!

Item	Description	Qty	Cost	Total:	

RMSKGS-MOC ... GFAB
LPIN
21-APS-brdr8 Shipping

21-TR32

21-B6WBRCS

Shipping

TRSH

RBAR5 RMC FLIFTDAY	

**SURFACING**
Ground Smart - Mocha Brown Playground Mulch - 2000Ib Super Sack
Weed Barrier
Landscape pins for securing underlayment 8" Playground Border with Spike Combined Shipping and Freight Charges

**SITE FURNISHINGS**
32 Gallon Regal Standard Tras Receptacle Only
6' Regal Standard Bench with a k, In-Ground
Mount
Combined ShippinCl'::11 .,_[91

**RAW MATERI	N**
Fees for dumpst	r other trash/materials re
excavations. No. 5 Rebar
Ready Mix Concrete 2500 PSI MIN Telescopic Fork Lift Daily Rental	

499.00	

6,986.00T	
		0.20	180.00T
55.00	110.00
30.00	1,440.00T
3,120.00	3,120.00

411.00	411.00T

2	643.00	1,286.00T

756.00	756.00

2	725.00	1,450.00

600	1.25	750.00
20	195.00	3,900.00
1.5	1,308.10	1,962.15	
AGREED AND ACCEPTED:
II the above total price, scope of work, spectflcotroos, terms and condlllons are occeptable, sign below Indicating your acceptonce and oulhorlzotTon for Pro Ploy9rounds o proceed with the work and/or soles tron•aclion d scribed In this qt1ototfon. Upon signature O!ld paym nt In accordance with thh quote, Pro Ploy9round1 will proc, ed wllh the work ond/or
,olel tron,odion.
I	I
Signolure	Nome /Title	Date		Subtotal:	
		Sales Tax: (7.0%)	
		Total:	
Terms and Conditions - Price valid for 30 days and subject to change. 1. If installation is not included with your purchase, client will be responsible for coordinating, receiving and unloading of all goods, delivery drivers will not help unload goods. 2. Client will be responsible to inspect goods for defect, damage or missing parts, any deficiency or missing parts must be noted on delivery slip. 3. Client will be responsible for costs due to cancelled or missed delivery appointments. 4. Client has reviewed all items, colors and descriptions on this quote for accuracy and correctness. 5. If quote includes installation of goods, the installation is subject lo the terms and conditions of Pro Playgrounds "Standard Installation Agreement" a copy of which may be obtained from your Sales Representative.
1-800-573-7529	www.proplaygrounds.com

[Prnoo [PCbtnS1@mmcornru0

The  Play & Recreation Experts

Cypress Park Estates Amenity C...

Project Name

.£,!  ­

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311
,IP=EMA"
CERT,.I,FIED
.ASTM  '
;t.O')'A

Invoice #13876
Date	Estimate#	
05/20/2022	13876	

Customer / Bill To

Ship To

Cypress Park Estates Community Development District
4975 Baker Dairy Road Haines, City, FL 33844

Cypress Park Estates Community Development District
219 E. Livingston St. Orlando, Fl 32801

WE WILL BEAT ANY PRICE BY 5%!

Item	Description	Qty	Cost	Total:	
LBR
CSSD
21-SD303012IG

Shipping	Labor and Installation- Playground, shades, site			14,217.53

10,954.00

450.00	
	12,567.53
furnishings, surfacing
Glide-Square	10,954.00

Combined Shipping and Freight Charges	450.00		
AGREED AND ACCEPTED:
If the above totol price, =pe of worl<, speclficoliolu, terms and condi1fon, are acxeptable, tlgn below fndlcoling yoor ocreptaoce ond authorization for Pro Plor9round1 lo prqceed with the work and/or sole, lraniactton deJQibed fn lhh qualalion. Upon slgnalure and payment Jn acc_ordonce wllh 1h11 quot , Pro Ploygroundl will procead with the work and/or soles lronsadion.
I	I

Signature	Name/ Title	Dote		Subtotal:	$47,972.68	
		Sales Tax: (7.0%)	$1,937.32	
		Total:	$49,910.00	
Terms and Conditions - Price valid for 30 days and subject to change. 1. If installation is not included with your purchase, client will be responsible for coordinating, receiving and unloading of all goods, delivery drivers will not help unload goods. 2. Client will be responsible to inspect goods for defect, damage or missing parts, any deficiency or missing parts must be noted on delivery slip. 3. Client will be responsible for costs due to cancelled or missed delivery appointments. 4. Client has reviewed all items, colors and descriptions on this quote for accuracy and correctness. 5. If quote includes installation of goods, the installation is subject to the terms and conditions of Pro Playgrounds "Standard Installation Agreement" a copy of which may be obtained from your Sales Representative.
l -800-573-7529	www.proplaygrounds.com

Lease No.: 24812
Lessee: Cypress Park Estates Community Development District

LESSEE'S INSTRUCTIONS
Required For Municipal Lease Transactions

In order to complete the lease transaction described above, the Lessee must complete, sign and return each of the documents identified and must attach each of the documents identified as documents to be provided by Lessee. Lessee must INITIAL ANY CHANGE ADDITION OR DELETION in any of the documents.

DOCUMENTS PROVIDED BY LESSOR THAT MUST BE COMPLETED, SIGNED AND RETURNED BY LESSEE:

Muni Lease AGREEMENT: Needs to be signed by duly authorized employee of Lessee designated in the Incumbency Certificate. In the following instructions, this form is termed the “Agreement”.

ACCEPTANCE CERTIFICATE: To be signed by highest ranking official at Equipment location and attested to by the person signing the Agreement for Lessee (TWO SIGNATURES ARE REQUIRED). Date when Equipment is accepted must be inserted by Lessee.

INCUMBENCY CERTIFICATE: Certificate identifying the person signing the Agreement for Lessee and verifying that person’s authority to be the signer of Agreement and any other documents to be executed in connection therewith (TWO SIGNATURES ARE REQUIRED).

DEPARTMENT OF THE TREASURY: IRS Form 8038-GC is required to qualify this Agreement as a tax-exempt transaction. Requires Federal ID (nine-digit number with NO LETTERS). This is not a sales tax exemption number and is only required on transactions involving interest that qualifies as income tax exempt.

DOCUMENTS THAT MUST BE PROVIDED BY LESSEE:

PURCHASE ORDER: Issued to Vendor. (Sample Purchase Order enclosed) MUST be written by Lessee, specifying total term of the Agreement (e.g., such as 36 months at $126.00). ( PREVIOUSLY PROVIDED)
BID/BID RESPONSE/AWARD(S): Documents upon which this quote and documentation has been generated.
INSURANCE CERTIFICATE: As required by the Agreement, please provide a Certificate of Insurance (Acord Form 27 or equivalent), naming Lessor as LOSS PAYEE, or letter evidencing self-insurance (if approved by Lessor).

FINANCIAL STATEMENTS: As required by the Agreement, please provide: last two (2) years of Balance Sheets and Profit & Loss Statements ( PREVIOUSLY PROVIDED)

Upon execution of these documents, please make copies for your records and forward all of the ORIGINAL documents to Government Leasing, LLC at:

Via express courier:
Government Leasing, LLC 830 Tenderfoot Hill Rd. Ste 301
Colorado Springs,CO 80906

MUNICIPAL LEASE AND OPTION AGREEMENT

Agreement No.  24812
LESSOR:
Government Leasing, LLC
830 Tenderfoot Hill Rd., Ste 301	VENDOR:
Colorado Springs, CO 80906	Legacy Construction Services Group, Inc.
800-822-8070	8490 Cabin Hill Rd
Fairfield, NJ07004
LESSEE:
Cypress Park Estates Community Development District 219 East Livingston
Orlando, FL 32801
Scott Shapiro, Chairperson of CDD 770-378-9695	

NOTE:	This is an interest income tax-exempt transaction. No TIN/SSN must be provided because none of the payments are I.R.S reportable (such as Form 1099)
(See Sections 103, 149, and 6041 of the Internal Revenue Code of 1986, as amended, and the Instructions for Forms 1099, 8038-G and 8038-GC.)	
EQUIPMENT DESCRIPTION

Play Equipment – PKP023N-Hoosier Nest, PSW110WS-1 Bay, 1 Cantilever – Frame w/Hangers, 1 Bay Belt Seat Package, 1 Seat Bucket Package.
Custom Multi Sail Shade Design for Pool.
Equipment is new unless otherwise noted. See Acceptance Certificate for Equipment Location.
Lessor assumes and shall have no responsibility for performance or maintenance of Equipment. Equipment is to be insured by Lessee. VENDOR IS NOT AN AGENT OF LESSOR and no representative of Vendor is authorized to waive, supplement or otherwise alter any provision hereof. Maintenance and/or supplies ARE NOT included in this Agreement unless specified in the Equipment Description. Lessor or assignee has a security interest in Equipment and must be notified in writing of any removal or trade-in of Equipment before full payment is made to Lessor or assignee.

EQUIPMENT COST – TERM – PAYMENTS	
Lease Term:	60 monthly	
Lease Payments:	60 total payments of $858.00, payable as follows: $858.00 due 30 days after written acceptance, and monthly thereafter on the same day until expiration of the full Lease Term.	
Total Amount Financed:	$42,150.14 - includes no taxes, any and all additional taxes will be the sole responsibility of Lessee.	
PURCHASE OPTION AMOUNT:	$1.00 after timely making all Lease Payments.	
STATE OF LESSEE	Florida	

THIS AGREEMENT IS SUBJECT TO THE TERMS AND CONDITIONS BELOW AND ON THE FOLLOWING PAGES, WHICH TERMS ARE MADE A PART HEREOF.

TERMS AND CONDITIONS
Lessor hereby leases to Lessee and Lessee hereby leases from Lessor the Equipment for the following purposes and upon the following terms and conditions:
ARTICLE I: COVENANTS OF LESSEE.
Section 1.01. Lessee Covenants. Lessee represents, covenants and warrants, for the benefit of Lessor and its assignee(s), as follows:
Lessee is a public body, corporate and politic, duly organized and existing under the Constitution and laws of the State named above ("State") and will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as a body corporate and politic.
Lessee has been duly authorized to execute, deliver and perform this Agreement in accordance with the Constitution and laws of the State and under the terms and provisions of the resolution of its governing body, or by other appropriate official approval. Lessee further represents, covenants and warrants that all requirements have been met, and procedures have occurred in order to ensure the enforceability of this Agreement, and Lessee has complied with such public bidding requirements as may be applicable to this Agreement and the acquisition by Lessee of the Equipment hereunder. If requested, Lessee shall deliver to Lessor an opinion of Lessee’s counsel in form acceptable to Lessor.
During the term of this Agreement, the Equipment will be used by Lessee only for the purpose of performing one or more governmental or proprietary functions of Lessee consistent with the permissible scope of Lessee's authority and will not be used in a trade or business of any person or entity other than the Lessee.
During the period this Agreement is in force, Lessee will annually provide Lessor with current financial statements, budgets, proof of appropriation for the ensuing fiscal year and such other financial information relating to the ability of Lessee to continue performing its obligations under this Agreement as may be reasonably requested by Lessor. Lessee further agrees to make its best effort to budget for and have appropriated for each budget and/or appropriation cycle, sufficient funds to make the Payments throughout the entire Lease Term. The Equipment described above is not being leased on any type of a trial or rental basis.
The Equipment will have a useful life in the hands of the Lessee that is substantially in excess of the Original Term plus any Renewal Terms.
The Equipment is, and shall remain during the period this Agreement is in force, personal property and when subject to use by Lessee under this Agreement, will not be or become a fixture under applicable law.
The Equipment described above is NOT BEING LEASED ON ANY TYPE OR FORM OF A TRIAL OR RENTAL BASIS.
Lessee will comply with all applicable provisions of the Internal Revenue Code of 1986 (the “Code"), including without limitation Sections 103 and 1”Total_Number_of_Payments» thereof, and the applicable regulations of the U.S. Treasury Department in order to maintain the exclusion of the interest components of Payments from gross income for the purposes of U.S. federal income taxation.
Lessee will use the proceeds of this Agreement as soon as practicable, and with all reasonable dispatch, for the purpose for which this Agreement has been entered into. No part of the proceeds of this Agreement shall be invested in any securities, obligations or other investments or used, at any time, directly or indirectly, in a manner which, if such use had been reasonably anticipated on the

date of issuance of this Agreement, would have caused any portion of the Agreement to be or become "arbitrage bonds" within the meaning of Section 103(b)(2) or Section 1”Total_Number_of_Payments» of the Code, as amended, and the applicable regulations of the U.S. Treasury Department.
N/A
Lessee represents and warrants that it is a governmental unit, under the laws of the State with general taxing powers, this Agreement is not a private activity bond as defined in Section 141 of the Code, as amended, 95% or more of the net proceeds of this Agreement will be used for local governmental activities of Lessee and the aggregate face amount of all tax-exempt obligations (other than private activity bonds) issued, or to be issued, by the Lessee and all subordinate entities thereof during the Issuance Year is not reasonably expected to exceed $5,000,000.00 Lessee and all subordinate entities thereof will not issue in excess of $5,000,000.00 of tax-exempt bonds (including this Agreement, but excluding private activity bonds) during the Issuance Year without first obtaining an opinion of nationally recognized counsel in the area of tax-exempt municipal obligations acceptable to Lessor that the excludability of the interest on the Agreement from gross income for federal tax purposes will not be adversely affected. [Omit and initial this paragraph if it is not applicable.]
ARTICLE II: DEFINITIONS.
Section 2.01. Defined Terms. The following terms will have the meanings indicated below unless otherwise defined in the Agreement or the context clearly requires otherwise:
"Agreement” means this Municipal Lease and Option Agreement.
"Lease Term" means the Original Term defined in Article III hereof and a sufficient number of automatic renewal Terms as will equal the Lease Term set forth on the face of this Agreement
"Lessor" means (i) the entity designated on the face of this Agreement as Lessor hereunder, (ii) any surviving, resulting or transferee corporation, and (iii) except where the context requires otherwise, any assignee(s) of Lessor.
"Buy-out After Payment Amount" means the amount of the payments for the balance of the entire Lease Term (assuming no early termination) plus the Purchase Option Amount shown above, if any, discounted to the date of payment at the rate equal to the rate paid on United States Treasury obligations have a similar term as of the date of original acceptance of the Equipment by the Lessee, plus payment of any amounts due hereunder but not yet paid, together with interest on such overdue amounts at ten percent (10%) per annum through the date of payment.
"Renewal Term(s)" means the automatic renewal periods of this Agreement, each having duration of one (1) year co-terminus with Lessee's fiscal year except the last of such periods which shall end on the anniversary of the Commencement Date. The terms and conditions during any Renewal Term shall be the same as the terms and conditions during the Original Term, except that the Payments shall be as provided in the attached Payment Schedule.
“UCC” means the Uniform Commercial Code as presently adopted in the State of Colorado.
"Vendor" means the manufacturer of the Equipment as well as the agents or dealers of the manufacturer from whom Lessor purchased or is purchasing the Equipment.
ARTICLE III: LEASE TERM.
Section 3.01. Lease Term. The Original Term of this Agreement shall commence on the date the Equipment is accepted by Lessee as indicated on the Certificate of Acceptance ("Commencement Date") and shall terminate the last day of Lessee's current fiscal year, provided this Agreement shall automatically renew for successive Renewal Terms for the duration of the Lease Term at the end of the Original Term and any Renewal Term unless the Lessee gives written notice to Lessor not less than thirty (30) days prior to the end of the Original Term or Renewal Term then in effect of Lessee's intention to terminate this Agreement pursuant to Section 5.05. If Lessee fails to accept the Equipment within a reasonable time after its delivery (not to exceed ten (10) days), then at the option of Lessor, the obligations of Lessor to provide the Equipment to Lessee hereunder may be cancelled and in such event Lessee shall assume all of Lessor’s obligations under any purchase order or purchase agreement with the Vendor related to the Equipment in lieu of its obligation to make Payments. Further, in such case, Lessee agrees to indemnify and hold Lessor harmless from any claims, including demand for payment of the purchase price of the Equipment.
ARTICLE IV: INSPECTION.
Section 4.01 Inspection. Lessor shall have the right at all reasonable times during business hours to enter into and upon the property of Lessee for the purpose of inspecting the Equipment and all related records.
ARTICLE V: PAYMENTS.
Section 5.01. Payments to Constitute a Current Expense of Lessee. Lessor and Lessee understand and intend that for purposes of any applicable Constitutional or statutory limitations the obligation of Lessee to pay Payments hereunder shall constitute a current expense of Lessee and shall not in any way be construed to be a debt of Lessee in contravention of any such limitations or requirements, nor shall anything contained herein constitute a pledge of the general tax revenues, funds or monies of Lessee.
Section 5.02 Payments. Lessee shall pay Payments, exclusively from legally available funds, in lawful money of the United States of America to Lessor or, in the event of assignment by Lessor, to its assignee, in the amounts and on the dates set forth in the Payment Schedule attached to this Agreement without invoice or other written demand. A portion of each Payment is paid as, and represents payment of, interest and principal, respectively. The Payment Schedule sets forth the interest component and principal component of each Payment during the Lease Term.
Section 5.03 Payments to be Unconditional. Subject to Section 5.05, the obligation of Lessee to make payment of all Payments and other payments required under this Agreement shall be absolute and unconditional in all events and are intended by the parties to be “net” of taxes and insurance Lessee shall make all such payments when due and shall not withhold any such payments as a result of any disputes arising between or among Lessee and Lessor, any Vendor or any other person, nor shall Lessee have the right to assert any set-off, reduction or deduction, defense, or counterclaim against its obligation to make such payments or be entitled to any abatement of such payments as a result of accident or unforeseen circumstances or any other reason.
Section 5.04 Continuation of Lease Term by Lessee. Lessee intends to renew this Agreement through all of the Renewal Terms and to pay all the Payments hereunder. Lessee reasonably believes that legally available funds of an amount sufficient to make all Payments during the Original Term and each Renewal Term can be obtained. Lessee further intends to do all things lawfully within its power to obtain and maintain funds from which Payments may be made, including making provision for such payments to the extent necessary in each bi-annual, annual, or otherwise periodic budget submitted and adopted in accordance with applicable provisions of state and local law, to have such portion of the budget approved and to exhaust all available reviews and appeals in the event such portion of the budget is not approved.
Section 5.05 Non-appropriation. In the event sufficient funds shall not be appropriated for the payment of the Payments required to be paid in the next occurring Renewal Term, then Lessee may terminate this Agreement at the end of the Original Term or then current Renewal Term, and Lessee shall not be obligated to make Payments provided for in this Agreement beyond the Original Term or the then current Renewal Term. Lessee agrees to deliver proof of non-appropriation including rejection of reviews and appeals and notice to Lessor of such termination at least thirty (30) days prior to the end of the Original Term or the then current Renewal Term. However, failure to deliver such proof of non-appropriation and notice to Lessor shall not extend the term of this Agreement beyond the end of the Original Term or the then current Renewal Term. If this Agreement is terminated under this Section 5.05, Lessee agrees, at Lessee's cost and expense, to peaceably deliver the Equipment to Lessor at the location specified by Lessor that is a reasonable distance from the initial location of the leased Equipment. Lessee shall complete such delivery on or before the last day of the then current Original Term or Renewal Term.
ARTICLE VI: TITLE TO EQUIPMENT; SECURITY INTEREST.
Section 6.01 Title to the Equipment. During the term of this Agreement, risk of loss and title to the Equipment and any and all additional, repairs, replacements or modifications shall vest in Lessee, subject to the rights of Lessor under this Agreement. In the event of default as set forth in Section 12.01 or non-appropriation as set forth in Section 5.05, title to the Equipment shall immediately vest in Lessor, and Lessee will, upon Lessor's request, surrender possession of the Equipment to Lessor. Lessee, irrevocably, hereby designates, makes, constitutes and appoints Lessor, its successors and assigns (and any designee) as Lessee's true and lawful attorney (and agent-in-fact) with power of substitution, at such time of default or non-appropriation or times thereafter as Lessor in its discretion may determine, in Lessee's name, to endorse the name of Lessee upon a Bill of Sale, document, instrument, invoice, freight bill, bill of lading or similar document relating to the Equipment to vest title in Lessor, its successors or assigns and transfer possession to Lessor.
Section 6.02 Security Interest. To secure the payment of all Lessee's obligations under this Agreement, Lessee grants to Lessor a first priority purchase money security interest in the Equipment and on all additions, attachments, improvements, accessions and substitutions thereto, all rentals, accounts, chattel paper arising therefrom and on any proceeds (including insurance proceeds) of any of the foregoing. Lessee agrees to execute and authorizes Lessor to execute and file on Lessee's behalf, such additional documents, including a UCC-1 financing statement in the form required for filing, and such other financing statements, certificates of title, affidavits, notices and similar instruments, satisfactory to Lessor, which Lessor deems necessary or appropriate to establish and maintain its security interest, and upon assignment, the security interest of any assignee of Lessor, in the Equipment.
ARTICLE VII: MAINTENANCE; MODIFICATION; TAXES; AND INSURANCE.
Section 7.01 Maintenance of Equipment by Lessee. Lessee agrees that at all times during the Lease Term, Lessee will, at Lessee's own cost and expense, maintain, preserve and keep the Equipment in good repair, working order and condition, and will from time to time make or cause to be made all necessary and proper repairs, replacements and modifications. Unless otherwise agreed by Lessor, Lessee will enter into a maintenance contract for the Equipment with Vendor or such other firm as Lessee may choose subject to the express written approval of Lessor, which approval shall not be unreasonably withheld.
Section 7.02 Taxes, Other Governmental Charges and Utility Charges. The parties to this Agreement contemplate that the Equipment will be used for governmental or proprietary purpose of Lessee and, therefore, the Equipment will be exempt from all taxes presently assessed and levied with respect to personal property. In the event the ownership, use, possession or acquisition of the Equipment is found to be subject to taxation in any form (except for income taxes payable by Lessor) Lessee will pay, as the same respectively come due, all taxes and governmental charges of any kind whatsoever that may at any time be lawfully assessed or levied against or with respect to the Equipment. If such tax is imposed directly on Lessor or its assigns, Lessee shall reimburse the person paying such tax on demand. If Lessee causes or allows events to happen that changes the interest income tax-exempt status of this Agreement, as outlined in Sections 103, 149, and 6041 of the Internal Revenue Code of 1986, as amended, or, assuming the Lessee has designated this Agreement as a "qualified tax-exempt obligation", if the Lessee exceeds ten million dollars ($10,000,000.00) in "qualified tax-exempt obligations", as specified in Section 265 (b) (3) (B) of the Internal Revenue Code of 1986, as amended, during the calendar year of commencement of this Agreement so that Lessee does not qualify as a "qualified small issuer" thereunder it will pay the "taxable interest rate" on this Agreement retroactive to its Commencement Date. The "taxable interest rate" is hereby defined as that rate that results in the same after tax yield to the Lessor or to its Assigns, as the tax-exempt rate on this Agreement or the highest rate permitted by law, whichever is less. In all events, Lessee shall pay all gas, water, steam, electricity, heat, power, telephone, utility and other charges incurred in the operation, maintenance, use, occupancy and upkeep of the Equipment.
Section 7.03 Insurance. At its own expense Lessee shall cause casualty, PUBLIC LIABILITY AND PROPERTY DAMAGE insurance to be carried and maintained, or shall demonstrate to Lessor’s satisfaction that adequate self-insurance is provided with respect to the Equipment, in such amounts and with such insurers as Lessor may determine but in no event less than an amount sufficient to protect the full replacement value (new) of the Equipment or the then applicable Buy-Out After Payment Amount, whichever is greater), and to protect Lessor from any liability related to the Equipment in all events. All insurance proceeds from casualty losses shall be payable as provided in Article VIII hereof. Lessee shall pay all deductibles and shall furnish to Lessor, or to its Assigns, Certificates evidencing such coverage throughout the Lease Term. Alternatively, Lessee may insure the Equipment under a blanket insurance policy or policies, which cover not only the Equipment but also other properties. If Lessee shall insure similar properties by self-insurance, Lessee will insure the Equipment by means of an adequate insurance fund. All insurance shall name Lessee and Lessor as insureds and lender loss payees as their respective interests may appear and shall provide for at least ten (10) days prior written notice by the underwriter or insurance company to the Lessor and its assigns in the event of cancellation, change, modification or expiration. All such insurance shall be with insurers and in amounts as otherwise acceptable to Lessor. Lessee shall also notify Lessor of any insurance claims regarding the Equipment

ARTICLE VIII: DAMAGE; DESTRUCTION AND CONDEMNATION; PROCEEDS.
Section 8.01 Damage, Destruction and Condemnation. Lessee is responsible for the entire risk of loss, theft, destruction, or damage (including any condemnation, seizure or requisition of title, use or governmental taking) to the Equipment from any cause whatsoever, whether insured or not (collectively a “Loss”). No Loss shall relive Lessee from making any Payment and Lessee shall continue to satisfy all its obligations hereunder. If prior to the termination of the Lease Term and the satisfaction by Lessee’s of all Lessee’ s obligations under this Agreement, the Equipment or any portion thereof is subject to a Loss that results in five hundred dollars ($500) or more of damage or is subject to any other Loss, Lessee shall immediately, notify Lessor of the circumstances and extent of the Loss and shall pay to Lessor in immediately available funds the Buy-Out After Payment Amount in accordance with Section 8.02 below. Lessor will cause the proceeds of any insurance claim or condemnation award, after deducting all expenses (including attorney's fees) incurred in the collection of such claim or award ("Net Proceeds"), to be applied to such Lessee's obligations pursuant to Section 8.02.
Section 8.02 Application of Net Proceeds. Lessee shall, pay to Lessor on the Payment due date next succeeding the date of such Loss, the amount of the Buy-Out after Payment Amount applicable to such date, plus any other amounts payable by Lessee hereunder, and, upon payment in full of such amounts, the Lease Term shall terminate and Lessor's security interest in the Equipment shall terminate. Lessee shall retain Net Proceeds in excess of the then applicable Buy-Out after Payment Amount, if any. Lessee agrees that if the Net Proceeds are insufficient to pay in full Lessee's obligations hereunder, Lessee shall make such payments to the extent of any deficiency.
ARTICLE IX: DISCLAIMER OF WARRANTIES; VENDOR'S WARRANTIES; USE.
Section 9.01 Disclaimer of Warranties. LESSEE ACKNOWLEDGES THAT THE EQUIPMENT IS LEASED “AS IS”, “WHERE IS”, “AND WITH ALL FAULTS”, AND THAT LESSOR MAKES NO AND HEREBY DISCLAIMS ANY AND ALL WARRANTIES OR REPRESENTATIONS, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF THE EQUIPMENT, OR ANY OTHER WARRANTY WITH RESPECT TO ANY CHARACTERISTICS OF THE EQUIPMENT WHATSOEVER AND LESSOR IS NOT THE MANUFACTURER OR SUPPLIER OF THE EQUIPMENT OR THE VENDOR’S AGENT AND NO SUCH PERSON IS LESSOR’S AGENT FOR ANY PURPOSE. LESSOR IS NOT RESPONSIBLE FOR ANY REPAIRS OR SERVICE TO THE EQUIPMENT, DEFECTS THEREIN OR FAILURES IN THE OPERATION THEREOF OR FOR ANY INDIRECT SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES WITH OR ARISING OUT OF THIS AGREEMENT OR THE EXISTENCE, FURNISHING, FUNCTIONING OR LESSEE'S USE OF THE EQUIPMENT OR ANY ITEM THEREOF OR SERVICES PROVIDED FOR IN THIS AGREEMENT, OR ANY SERVICES PROVIDED BY VENDOR.. LESSEE HAS MADE THE SELECTION OF EACH ITEM OF EQUIPMENT BASED ON ITS OWN JUDGMENT AND EXPRESSLY DISCLAIMS ANY RELIANCE UPON ANY
STATEMENTS OR REPRESENTATIONS MADE BY LESSOR. Any transfer of the Equipment to the Lessee shall be made disclaiming all express and implied warranties from Lessor and its assigns.
Section 9.02 Vendor's Warranties. Lessor hereby irrevocably appoints Lessee its agent and attorney-in-fact during the Lease Term, so long as Lessee shall not be in default hereunder, to assert from time to time whatever claims and rights, including warranties, representations or covenants of the Equipment, which Lessor may have against the Vendor of the Equipment but any action taken by Lessee by reason of such assignment shall be at Lessee’s sole expense and shall be consistent with Lessee’s obligations under this Agreement. Lessee's sole remedy for the breach of any such warranty, indemnification or representation shall be against the Vendor and/or manufacturer of the Equipment. Lessee expressly acknowledges that Lessor makes, and has made, no representation or warranties whatsoever as to the existence or availability or enforceability of such warranties of the Vendor or manufacturer.
Section 9.03 Use of the Equipment. Lessee will not install, use, operate or maintain the Equipment improperly, carelessly, in violation of any applicable law or user manual or in a manner contrary to that contemplated by this Agreement and shall use the Equipment in a business, prudent like manner for its originally intended purpose only. Lessee shall provide all permits and licenses, if any, necessary for the installation and operation of the Equipment. In addition, Lessee agrees to comply in all respects (including, without limitation, with respect to the use, maintenance and operation of each item of the Equipment) with all laws of the jurisdictions in which its operations involving any item of Equipment may extend and any legislative, executive, administrative or judicial body exercising any power or jurisdiction over the items of the Equipment provided, however, that Lessee may contest in good faith the validity or application of any such law or rule in any reasonable manner which does not, in the opinion of Lessor, adversely affect the interest of Lessor in and to any of the items of the Equipment or its interest or rights under this Agreement. Lessee agrees that no more than 10% of the use of the Equipment in any month will be by persons or entities other than the Lessee or its employees on matters relating to such employment, and no more than 5% of the use of the Equipment in any month will be unrelated to use by or for the Lessee. Lessee further agrees that no management contracts will be entered into with respect to the use of the Equipment unless: (a) at least half of the compensation is on a periodic, fixed fee basis; (b) no compensation is based on a share of net profits; (c) the Lessee is able to terminate the contract without penalties at the end of any three years; and (d) the total term of such contract, including any renewals does not exceed five years. Without the written consent of Lessor, Lessee shall only keep the Equipment at the address shown above.
ARTICLE X: EARLY OPTION TO PURCHASE.
Section 10.01 Early Purchase Option. Provided Lessee is not in default hereunder, Lessee may, upon giving Lessor not less than thirty (30) days prior written notice, elect to purchase all, but not less than all, of the Equipment on any Payment due date for the Buy-Out After Payment Amount. Upon exercise of this early option to purchase, Lessee shall pay these amounts to Lessor or its assigns, on demand. As a condition precedent to exercising this early option to purchase, Lessee shall deliver to Lessor and its assigns a termination of any maintenance funding or disbursing obligations related to this Agreement.
ARTICLE XI: ASSIGNMENT; SUBLEASING; AND ADDITIONAL COVENANTS.
Section 11.01 Assignment by Lessor. This Agreement, and the right to receive the Payments and amounts to be made hereunder but none of Lessor’s obligations, may be assigned by Lessor and reassigned in whole or in part to one or more assignees at any time subsequent to the execution of this Agreement, without obtaining the consent of Lessee. Lessor agrees to give notice of assignment, including the name and address of the assignee, and upon receipt of such notice Lessee agrees to make all Payments and other amounts to the assignee designated in the notice of assignment, notwithstanding any claim, defense, set-off or counterclaim whatsoever (whether arising from a breach of this Agreement or otherwise) that Lessee may from time to time have against Lessor, or the assignee. Lessee agrees to execute all documents, including notices of assignment and chattel mortgages or financing statements that may be reasonably requested and provided by Lessor or its assignee in order to protect their interests in the Equipment and in this Agreement. The Lessee covenants and agrees with the Lessor and each subsequent assignee of Lessor to maintain for the full term of this Agreement a complete and accurate written record of each such assignment and reassignment in form necessary to comply with Section 149(e) of the Internal Revenue Code of 1986, as amended, and the regulations proposed or existing from time to time promulgated hereunder. Anything in the foregoing apparently to the contrary notwithstanding, the Lessor's interest in this Agreement may be assigned in whole or in part upon terms which provide in effect that the assignor or assignee will act as a collection and paying agent for holders of certificates of participation in this Agreement, provided the Lessee receives written notification of the name and address of such collection and paying agent, and such collection and paying agent covenants and agrees to maintain for the full remaining term of this Agreement a written record of each assignment and reassignment of such certificates of participation. Section 11.02 No Sale, Assignment or Subleasing by Lessee. This Agreement and the interest of Lessee in the Equipment may not be sold, assigned or encumbered by Lessee without the prior written consent of Lessor.
Section 11.03 Additional Covenants. To the extent permitted by the laws and Constitution of the State, Lessee shall protect, defend and hold harmless Lessor from and against any and all liability, obligations, losses, claims, suits and damages whatsoever, regardless of cause thereof (except for such liability, obligation, loss, claim or damage directly caused by the gross negligence or willful misconduct of Lessor), and expenses in connection therewith, including, without limitation, reasonable counsel fees and expenses, penalties and interest arising out of or as the result of the entering into of this Agreement, the ownership of any item of the Equipment, the ordering, acquisition, use, operation, condition, purchase, delivery, rejection, storage or return of any item of the Equipment or any accident in connection with the operation, use, condition, possession, storage or return of any item of the Equipment resulting in damage to property or injury to or death to any person. The indemnification arising under this paragraph shall continue in full force and effect notwithstanding the full payment of all obligations under this Agreement or the termination of the Lease Term for any reason.
ARTICLE XII: EVENTS OF DEFAULT AND REMEDIES.
Section 12.01 Events of Default Defined. The following shall constitute an "event of default" hereunder:
Failure by Lessee to pay any Payment or other payment required to be paid hereunder at the time specified herein; or
Failure by Lessee to observe and perform any other covenant, condition or agreement on its part to be observed or performed not described in Sections 12.01 A, C, D or E if such failure is not fully remedied within thirty (30) days after Lessor’s written notice to Lessee, provided, however, if the failure stated in the notice cannot be corrected within the applicable time period, Lessor will not unreasonably withhold its consent to an extension of such time if corrective action is instituted by Lessee within the applicable period and diligently pursued until the default is corrected; or
Breach of any material representation or warranty by Lessee under this Agreement, the failure by Lessee to provide insurance as required by this Agreement, the failure of Lessee to observe and perform the conditions specified under Sections 9.03 or 11.02 or the failure to return the Equipment immediately as specified in Section 13.10 and this Agreement; or
Commencement by Lessee of a case or proceeding under the Federal bankruptcy laws or filing by Lessee of any petition or answer seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any existing or future bankruptcy, insolvency or other similar law or an answer admitting or not contesting the material allegations of a petition filed against Lessee in any such proceeding; or
A petition against Lessee in a proceeding under any existing or future bankruptcy, insolvency or other similar law shall be filed and not withdrawn or dismissed within thirty (30) days thereafter.
Section 12.02 Remedies on Default. Upon the occurrence of an event of default, Lessor shall have the right, at its discretion without any further demand or notice, to exercise any one or more of the following remedies:
By written notice to Lessee, Lessor may declare all Payments and other amounts payable by Lessee hereunder to the end of the then current Original Term or Renewal Term to be immediately due, provided that such amounts shall be immediately due and payable upon an event of default specified under section 12.01(D) and (E) above;
With or without terminating this Agreement, retake possession of the Equipment and sell, lease or sublease the Equipment in a commercially reasonable manner at public or private sale, in bulk or in parcels, whether the Equipment is present at such sale, with or without repairing the Equipment, and with or without notice except to the extent required by applicable law, and if notice is required by the applicable law such requirements of reasonable notice shall be met if such notice is given at least ten (10) days before the time of the public sale or the time after which any other disposition is to be made with the net proceeds thereof to be applied as provided herein (provided that any action unless otherwise specifically stated in writing with a reference to the UCC by Lessor shall be deemed a cancellation under Article 2A-505);
Require Lessee at Lessee's risk and expense to promptly return the Equipment in the manner and in the condition set forth in Section 13.10 hereof;
If Lessee fails to return the Equipment for any reason, the Lessee shall pay to Lessor the Buy-Out after Payment Amount,
Take whatever other action at law or in equity that may appear necessary or desirable to enforce Lessors rights, including without limitation those rights under the UCC; and,
The proceeds of such sale, lease or sublease of the Equipment pursuant to Section 12.02 B shall be applied in the following order: 1) to all expenses of Lessor in exercising its remedies under this Agreement, including without limitation all expenses of taking possession, storing, reconditioning and selling, leasing or subleasing of the Equipment and all brokerage, auctioneers' and attorneys' fees 2) all obligations of Lessee payable under this Agreement and 3) the balance to the Lessee unless Lessee shall so waive such payment. If the proceeds of such sale, lease or sublease shall be insufficient to pay all of items 1) and 2) Lessee shall remain liable for any deficiency to the extent permitted by applicable law.
Section 12.03 No Remedy Exclusive. No remedy herein conferred upon or reserved to Lessor is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default or the failure at any time to require strict performance by Lessee shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. A waiver on one

occasion shall not be construed as a bar to or waiverof any right or remedy on any future occasion.No waiver or consent shall be bindirg upon Lessor unless ItIs in writing and signed by Lessor.
ARTICLE XIII:MISCELLANEOUS.
Section 13.01 Notices. All notices,certificates or other communicationshereunder shall be sufflciently given and shall be deemed given when delivered or mailed by reglS1ered mall, posta<Je prepaid, to the parties at theirrespective addresses.
Section 13.02BindingEffect Subject to the limitations on asslgnmen this Agreement shaI inure to1he benefit of and shalt be binding upon Lessor and lessee and their respectivesuccessor.; and assigns.
Section 13.03 Severabillty; InterestLimitations, In the event any court of competent Jurisdiction shalt hold any provision of this Agreement Invalidor unenforceable, such holding shall not invalidate or render unenforceable any other provision hereof. Lessee will not be requi'ed to pay and Lessor will not be permitted to collect a1y amount In excess of the maximum amount of Interest permitted by law ('Excess lnteresr). If any Excess Interest Is provided for or determined to haw been proviled for under thisAgreement, then: (A) this subsection shalt govern and control; (B) Lessee winnot be obligated to pay any Excess Interest (C) any Excess Interest that Lessor may have received hereunder shallbe, at Lesso(s optoo (1) applied as a credit against the outstanding tease payment obligations (not to exceed the maximum amount permitted by law). (2) refunded to Lessee, or (3) any combilation of the foregoing; (D) any interest rate(s) provided for herein shall be automatically reduced to the maximum lawful rate anowed under applicable law, and this Agreement shall be deemed to have been, and shall be, reformed and modified to reflect such reduction; and (E) Lessee will not haw any action against Lessor for any damages arisingout of the payment or collection of any Excess Interest
Section 13.04Advances, Late Fee,. In the event Lessee falls to pay any amounts due hereunder or to perform any of its obligationsunder this Agreement,Lessor may at Its option pay such amounts or perform
such obligatbn, and Lesseeshall reimburse Lessor the amount ol such payment or cost of performance upon demand, together with interestat the rate of eighteen percent (18%) per anoum or the Nghest rate permitted by taw, whicheverIs less.
Section 13.05 Execution In Counterparts. This Agreement may be executed Inmultiple counterparts,all of which shallconstitute one and the same instrument Thecounterpart bearing Lesso(s manually applied signature and marked "original' shall constitute the sole 'record' constituting 'chattel paper" withrespect to this Agreement under the UCC.
Section 13.06Applicable Law, Venue. To the extent allowed by applicable law, this Agreement shaDin altrespects be governed by and construed Inaccordance with the laws of the state of COiorado,Includingall
matters of construction, validity and performance. Lessee acknowledges that this Agreement was entered into In El Paso county,CO, and that the parties have agreed that any action or proceeding regarding this Agreement. , the Equipment or any cause of action whatsoever arising from or relatedto this Agreement shall be maintained In the state or federal courts in said state and county and Lessee hereby submitsto jurisdictionand venue, waiving any claim of improper jurisdictionor venue or forum non conveniens, agreeing to accept service at Lessee's place of business In any such action. Nothing in this section shall affect the right of any party to serve legal process in any other manner permitted by law oraffect the right of any party to bring any action or proceeding In the courts of any other Jurisdiction.
Section 13.07 Captions. Rules of Construction. The captions or headings In this Agreement are for convenienceonlyand In no way define,limitor describe the scope or intent of any provisions or sections of this Agreement The expression 'satisfactory to Lessor","determined by Lessor" inLende(sLesso(','at Lessor's discretion' or simH.r words which grant Lessor the right to choose between alternatives or to express ls opinion, shall mean that the satisfaction, judgment, choices and opinions are to be made in Lesso(s sole and absolute discretion; and "materiar as used herein shall be construed to mean significant in Lesso(s Judgment. taking Into account all relevant facts and circumstancesincludingthe nature and amount of exposure to Lessor.
Section 13.08 Entire Agreement This Agreement and any supplements,addendum or documents executed in connection herewith constitutes the entire agreement between Lessor and Lessee and may not be
amended, alteredor modified except by written instrument signed by Lessor and Lessee. The execution of such writing by lesso(s assignee shall be sufficient for such purposes ff Lessor has assigned this Agreement There are no understandings, agreements, representations or warranties,express or implied, not specified herein regarding thisAgreement or the Equipment teased hereunder. Any terms and conditions or any purchase order or other document (with the exception of Supplements) submittedby Lessee in connection with this Agreement which are in addition to or inconsistent with tile tenns and conditionsof this Agreement wiU not be binding on Lessor and will not apply.
Section 13.09Finance lease.The parties agree that each of them is Intendedto have the respective rights, remedies, benefits end obligations of a lessor and lessee, as the case may be, under a "FlnanceLease'
as that term is defined In Articte 2A of the UCC, whether or not it shal be determined that this Agreement actuaUyconstitutes a FinanceLease under such definition. lesseewaives any and all rights and remedies Lesseemayhave under the UCC 2A-508through 2A-522, including any right to: (a) cancel this Agreement; (b) rejecttender of the Equipment (c) revoke acceptanoe of the Equipment; (d) recover damages forany breach of warranty; and (e) make deductions or set-offs, for any reason, from amounts due us under this Agreement If ar,y part of this Agreement is inconsistent withUCC 2A, the terms of this Agreement will
govern.Lessorshall have no duty to mitigate any dooiages unless expressly statedherein.
Section 13.10. Return of Equipment. Unless Lessee purchases the Equipment (in accordance with the terms hereo . upon expiration,cancellation or terminationof the Agreement for any reason, at the discretion of Lessor, (i) at Lessee's sole cost and expense, Lessee will immediatelyreturn the Equipment to Lessor In accordance withtile provisions of this section and in the conditionrequired by this Agreement. If shipped, the Equipment shal be packed in accordancewith the Vendor's specifx:ations and relumedto Lessor at the location specified by Lessor in the COntlnental United States reasonably close to v.tiere it was originally
delivered, in the sane condition as when accepted, ordinarywear and tear excepted. Such shipment shaUbe f.o.b. destination,Lessee shall bear an costs associated with such packaging, shipping and Insurance. The rtSk of loss shall not pass to Lessor until the Equipment has been received by lessor. In additionto Lessor's other rights and remedies under this Agreement,n the Equipment Is not returned In the condition required under this Agreement or nrepairsare necessary to place any item of Equipment in the condition required herein, Lessee shaU pay to Lessor the coS1s of such repairs.

ESSENTIALUSE/SOURCEOF FUNDS LETTER
Ladles/Gentlemen:
This confirms and affirms that the Equipment described In this Agreement Is essential to the function of the undersigned or to the service we provide to our citizens. Further, we have an Immediate need for, and expect to make Immediate use or, subS1anUally an such Equipment which need is not temporary or expected to diminish In the foreseeablefuture. Such Equipment wUI be used by us only ror the purpose of performing one or more of our governmentalor proprietary functions consistent with the permissible scope of our authority.Specifica ly, such EquipmenllNasselected by,us to be used as follows:
Pla· rouna

Theestimated usefullife of such Equipmentbased upon manufacwre(s representationsand ourprojected needs is:	20 years
Our source offunds for payments of the rent due under tile Agreement for the current fiscal year Is:Current/proposedbudget.	l d d
We expect and anticipateadequate funds to be availabletor anfuture Payments due after the current fiscal year for the following reasons:   In_c_u_e

i n_b_u_d g e_t	 _

Date:	8/25/2022	 _

Cbav

CypressJ:st1te,rCommunity DevelopmentDistrict
By	 ,	 (j S:	{)f' (),')

(Authorized Official)

LESSOR: Government Leasing,LLC

AGREED AND ACCEPTED:
LESSEE: Cypress Park Estates Community Development District
Lessee acknowledges reading and receiving a copy of this Agreement. The undersignedaffirms that she/he has beenduly authorized to executethis

By:		 _ Tom Wittwer, Manager
Date:	 _

Agreement on e a 1: e a ve-namedLessee.
1

By: 	
Name:_-'S'--rrl-+ 5'_1'_.:f._'_F_c_) 	 _

ntie:  	(.,.-<hac..=..1.l.c...r...,_f..::..{ <.'..I	 _
Date:		_/_z_r-_/_z...  ;;;;_2-	 _

ACCEPTANCE CERTIFICATE

Madam/Sir:

In accordance with the terms of the Muni Lease Agreement No. 24812, ("Agreement") between Government Leasing, LLC ("Lessor"), and the undersigned ("Lessee"), Lessee hereby certifies and represents to, and agrees with, Lessor as follows:
The Equipment, as such term is defined in the Agreement, is new and has been delivered and installed at the Equipment Location specified in the Agreement and accepted on the date indicated below.

Lessee has conducted such inspection and/or testing of the Equipment as it deems necessary and appropriate and hereby acknowledges that it accepts the Equipment for all purposes.
No Event of Default, as such term is defined in the Agreement, and no event which, with notice or lapse of time, or both, would become an Event of Default, has occurred and is continuing at the date set forth below.

Lessee represents, covenants and warrants, that if requested by Lessor, Lessee will deliver an Opinion of Counsel, to the effect that: (i) the execution, delivery and performance by the Lessee of the Agreement have been duly authorized by all necessary action on the part of the Lessee; and, (ii) the Agreement constitutes a legal, valid and binding obligation of the Lessee enforceable in accordance with its terms.

Lessee agrees that it will do, or cause to be done, all things necessary to preserve and keep the Agreement in full force and effect.

LESSEE:	Cypress Park Estates Community Development District

EQUIPMENT DESCRIPTION:

Play Equipment - PKP023N-Hoosier Nest, PSW110WS-1 Bay, 1 Cantilever - Frame w/Hangers, 1 Bay Belt Seat Package, 1 Seat Bucket Package. Custom Multi Sail Shade Design for Pool.

al User of Equipment at Equipment location) Title:	-=-D=----1f;,.._.;t,_,_r ,IG""'-'k:---'-h\ . (,/l.l..>.4..P...,..0. . e-r ........

Attested by:_-----'---='Jc."='"..1_,-c_JJJ_t_ _·		_
(Sig reement)
Title:	 C -Ct., l_l' p_e_/s P"\	_

ACTUAL EQUIPMENT ACCEPTANCE DATE:  8/12/2022	_

INCUMBENCY CERTIFICATE Muni Lease AGREEMENT NO. 24812
Cypress Park Estates Community Development District ("LESSEE") Government Leasing, LLC ("LESSOR")

I,	I I LL	 e»;Ct'.'£		
(Title: Secretary or Clerk)

JuttJ!

For CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT

(Signature of Signer oflase)
	5cof+-s:"-a piri)
(Print Name of Signer of Lease)
	Cho.,rpi (.Jch	
(Title of Signer of Lease)

of CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT, has been, is, and, until further notice, continues to be duly authorized to execute any and all documents related to the Municipal Lease and Option Agreement No. 24812, shown is his or her signature.

LESSEE: CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT

JI \\

Signature:9Jt	-.	
Printed Name:	Su  Y-"-S 
Tit_le:			,_S,e-=---=-=(Y- - --=-----+------ 

CERTIFICATE OF PROPERTY INSURANCE	DATE (MM/DD/YYYY)
07/13/2022	
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.	
PRODUCER			CONTACT	Kristina Rudez
NAME:	
Egis Insurance & Risk Advisors			PHONE	(321) 233-9939
(A/C, No, Ext):	FAX
(A/C, No):	
250 International Parkway			E-MAIL	krudez@egisadvisors.com
ADDRESS:	
Suite 260			PRODUCER	00001012
CUSTOMER ID:	
Lake Mary	FL	32746	INSURER(S) AFFORDING COVERAGE	NAIC #	
INSURED
Cypress Park Estates Community Development District c/o Government Management Services, LLC
219 E Livingston St Orlando	

FL	

32801	INSURER A : Florida Insurance Alliance		
			INSURER B :		
			INSURER C :		
			INSURER D :		
			INSURER E :		
			INSURER F :		

COVERAGES

CERTIFICATE NUMBER:

2021-22 Master Prop

REVISION NUMBER:

LOCATION OF PREMISES / DESCRIPTION OF PROPERTY (Attach ACORD 101, Additional Remarks Schedule, if more space is required)
675 Silver Palm Drive Haines City FL 33844	
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.	
INSR LTR	TYPE OF INSURANCE	POLICY NUMBER	POLICY EFFECTIVE DATE (MM/DD/YYYY)	POLICY EXPIRATION DATE (MM/DD/YYYY)	COVERED PROPERTY	LIMITS	

A		PROPERTY	

DEDUCTIBLES	

100121473	

10/01/2021	

10/01/2022	
	BUILDING
PERSONAL PROPERTY BUSINESS INCOME EXTRA EXPENSE RENTAL VALUE BLANKET BUILDING BLANKET PERS PROP BLANKET BLDG & PP	$ 846,315	
	CAUSES OF LOSS							$	
		BASIC	BUILDING
2,500				
		$ 1,000,000	
		BROAD							$	
			CONTENTS							
	
	SPECIAL							$	
	
	EARTHQUAKE	2,500						$	
	
	WIND	2% min $10k						$	
	
	FLOOD	2,500						$	
									$	
									$	
		INLAND MARINE	TYPE OF POLICY					$	
	CAUSES OF LOSS						$	
		NAMED PERILS	POLICY NUMBER					$	
								$	
		CRIME						$	
	TYPE OF POLICY						$	
							$	
		BOILER & MACHINERY /						$	
	EQUIPMENT BREAKDOWN						$	
							$	
							$	
SPECIAL CONDITIONS / OTHER COVERAGES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
Certificate Holder is named as Loss Payee as respects to Loan#40931040-1; Playground Equipment value of $45,000	
CERTIFICATE HOLDER	CANCELLATION

Government Leasing, LLC., its successors and/or assigns
830 Tenderfoot Hill Rd., Suite 301 Colorado Springs, CO 80906	
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.	
	AUTHORIZED REPRESENTATIVE

ACORD 24 (2016/03)

© 1995-2015 ACORD CORPORATION. All rights reserved.
The ACORD name and logo are registered marks of ACORD

8038 GC	Information Return for Small Tax-Exempt
Form	•	Governmental Bond Issues, Leases, and Installment Sales
(Rev. October 2021)	► Under Internal Revenue Code section 149(e)
Department of the Treasury	Caution: If the issue price of the issue is $100,000 or more, use Form 8038-G.
Internal Revenue Service	► Go to www.irs.gov/Form803BGC for instructions and the latest information.

0MB No. 1545-0047

Reporting Authority
1 Issuer's name
CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT

Check box if Amended Return ► D

2 Issuer's employer identification number (EIN)

it.t - 3 •'bl. 4q

3 Number and street (or P.0. box if mail isn't delivered to street address)	Room/suite
219 E. Livin ston St.	

4 City, town, or post office, state, and ZIP code	5 Report number (For IRS Use Only)
Orlando, FL 32801	

Bv

6 Name and title of officer or other employee of issuer or designated contact person whom the IRS may call for more information  7 Telephone number of officer or legal representative

r	407-84 / c; z_-.j )(	S	'07 i	S-52. vx /JS	

_a_

9a	a-+-=	;	
9b		
9c		
9d		
9e		
9f		
9g		
9h		
9i		
9j		
9k		

Sa  Issue price of obligation(s) (see instructions)

-----------

b Issue date (single issue) or calendar date (consolidated). Enter date in MM/DD/YYYY format (for example, 01/01/2009) (see instructions)►
Amount of the reported obligation(s) on line Ba that is:
For leases for vehicles
For leases for office equipment .
For leases for real property .
For leases for other (see instructions) .
For bank loans for vehicles .
For bank loans for office equipment  .
For bank loans for real property
For bank loans for other (see instructions) Used to refund prior issue(s)
Representing a loan from the proceeds of another tax-exempt obligation (for example, bond bank)
Other  .
If the issuer has designated any issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check this box	►□
If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box (see instructions) .	►□
Vendor's or bank's name: Government Leasing LLC	--·
Vendor's or bank's employer identification number:	46-2822734

Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and
·ignature  belief, they are true, correct, and complete. I further declare that I consent to the IRS's disclosure of the issuer's return information, as necessary to
aSnd	process thisretut to theperson )tat I have authorized above.	I	.

Signature of issuer's authorized representative

Paid

IPreparer's signature

Date

I

Type or print name and ti

Date

ICheck D if

IPTIN

tle

Print/Type preparer's name

Preparer f-------------......	  ,	

-.--'	_.	

self-employed

_

Use Only.;Fir.m;'s.na.m.e►;;..;.c.=..c=-----------------------J -Fir+m's -EIN1► ----------
Firm's address►	Phone no.

Consent	►	lrtftlr	- u.p;.,	1111/22..	► 5ro#S1'Q.p11'141 (l.a,rµ{µ,

Future Developments
For the latest information about developments related to Form 8038-GC and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form8038GC.

General Instructions
Section references are to the Internal Revenue Code unless otherwise noted.
Purpose of Form
Form 8038-GC is used by the issuers of tax­ exempt governmental obligations to provide the IRS with the information required by section 149(e) and to monitor the requirements of sections 141 through 150.

Who Must File
Issuers of tax-exempt governmental obligations with issue prices of less than
$100,000 must file Form 8038-GC.
Issuers of a tax-exempt governmental obligation with an issue price of $100,000 or more must file Form 8038-G, Information Return for Tax-Exempt Governmental Bonds.
Filing a separate return for a single issue. Issuers have the option to file a separate Form 8038-GC for any tax-exempt governmental obligation with an issue price of less than $100,000.
An issuer of a tax-exempt bond used to finance construction expenditures must file a separate Form 8038-GC for each issue to give notice to the IRS that an election was made to

pay a penalty in lieu of arbitrage rebate. See the instructions for line 11, later.
Filing a consolidated return for multiple issues. For all tax-exempt governmental obligations with issue prices of less than
$100,000 that aren't reported on a separate Form 8038-GC, an issuer must file a consolidated information return including all such issues issued within the calendar year.
Thus, an issuer may file a separate Form 8038-GC for each of a number of small issues and report the remainder of small issues issued during the calendar year on one consolidated Form 8038-GC. However, if the issue is a construction issue, a separate Form 8038-GC must be filed to give the IRS notice of the election to pay a penalty in lieu of arbitrage rebate.

For Papeiwork Reduction Act Notice, see instructions.	Cat. No. 641088	Form 8038-GC (Rev. 10-2021)

mail to the street address and the issuer has a
P.O. box, show the box number instead of the street address. If a change in address occurs after the return is filed, use Form 8822, Change of Address, to notify the IRS of the new address.
Note: The address entered on lines 3 and 4 is the address the IRS will use for all written communications regarding the processing of this return, including any notices. By authorizing a person other than an authorized officer or other employee of the issuer to communicate with the IRS and whom the IRS may contact about this return, the issuer authorizes the IRS to communicate directly with the individual listed on line 6, whose address is entered on lines 3 and 4 and consents to disclose the issuer's return information to that individual, as necessary, to process this return.
Line 5. This line is for IRS use only. Don't make any entries in this box.
Part II-Description of Obligations
Check the appropriate box designating this as a return on a single issue basis or a consolidated return basis.
Line Sa. The issue price of obligations is generally determined under Regulations section 1.148-1(b). Thus, when issued for cash, the issue price is the price at which a substantial amount of the obligations are sold to the public. To determine the issue price of an obligation issued for property, see sections 1273 and 1274 and the related regulations.
Line Sb. For a single issue, enter the date of issue (for example, 03/15/2020 for a single issue issued on March 15, 2020), generally the date on which the issuer physically exchanges the bonds that are part of the issue for the underwriter's (or other purchaser's) funds; for a lease or installment sale, enter the date interest starts to accrue. For issues reported on a consolidated basis, enter the first day of the calendar year during which the obligations were issued (for example, for calendar year 2020, enter 01/01/2020).
Lines 9a through 9h. Complete this section if property other than cash is exchanged for the obligation, for example, acquiring a police car, a fire truck, or telephone equipment through a series of monthly payments. (This type of obligation is sometimes referred to as a "municipal lease.") Also, complete this section if real property is directly acquired in exchange for an obligation to make periodic payments of interest and principal.
Don't complete lines 9a through 9d if the proceeds of an obligation are received in the form of cash even if the term "lease" is used in the title of the issue. For lines 9a through 9d, enter the amount on the appropriate line that represents a lease or installment

purchase. For line 9d, enter the type of item that is leased. For lines 9e through 9h, enter the amount on the appropriate line that represents a bank loan. For line 9h, enter the type of bank loan.
Lines 9i and 9j. For line 9i, enter the amount of the proceeds that will be used to pay principal, interest, or call premium on any other issue of bonds, including proceeds that will be used to fund an escrow account for this purpose. Several lines may apply to a particular obligation. For example, report on lines 9i and 9j obligations used to refund prior issues which represent loans from the proceeds of another tax-exempt obligation.
Line 9k. Enter on line 9k the amount on line Ba that doesn't represent an obligation described on lines 9a through 9j.
Line 10. Check this box if the issuer has designated any issue as a "small issuer exception" under section 265(b)(3)(8)(i)(III).
Line 11. Check this box if the issue is a construction issue and an irrevocable election to pay a penalty in lieu of arbitrage rebate has been made on or before the date the bonds were issued. The penalty is payable with a Form 8038-T for each 6-month period after the date the bonds are issued. Don't make any payment of penalty in lieu of rebate with Form 8038-GC. See Rev. Proc. 92-22,
1992-1 C.B. 736, for rules regarding the "election document."
Line 12. Enter the name of the vendor or bank who is a party to the installment purchase agreement, loan, or financial lease. If there are multiple vendors or banks, the issuer should attach a schedule.
Line 13. Enter the employer identification number of the vendor or bank who is a party to the installment purchase agreement, loan, or financial lease. If there are multiple vendors or banks, the issuer should attach a schedule.
Signature and Consent
An authorized representative of the issuer must sign Form 8038-GC and any applicable certification. Also, write the name and title of the person signing Form 8038-GC. The authorized representative of the issuer signing this form must have the au1hority to consent to the disclosure of the issuer's return information, as necessary to process this return, to the person(s) that has been designated in this form.
Note: If the issuer authorizes on line 6 the IRS to communicate with a person other than an officer or other employee of the issuer (such authorization shall include contact both in writing regardless of the address entered on lines 3 and 4, and by telephone), by signing this form, the issuer's authorized representative consents to the disclosure of the issuer's return information, as necessary to process this return, to such person.

Paid Preparer
If an authorized representative of the issuer filled in its return, the paid preparer's space should remain blank. Anyone who prepares the return but does not charge the organization shouldn't sign the return. Certain others who prepare the return shouldn't sign. For example, a regular, full-time employee of the issuer, such as a clerk, secretary, etc., shouldn't sign.
Generally, anyone who is paid to prepare a return must sign it and fill in the other blanks in the Paid Preparer Use Only area of the return. A paid preparer cannot use a social security number in the Paid Preparer Use Only box. The paid preparer must use a preparer tax identification number (PTIN). If the paid preparer is self-employed, the preparer should enter his or her address in the box.
The paid preparer must:
Sign the return in the space provided for the preparer's signature, and
Give a copy of the return to the issuer.

Paperwork Reduction Act Notice
We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws.
You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid 0MB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103.
The time needed to complete and file this form will vary depending on individual circumstances. The estimated burden for tax exempt organizations filing this form is approved under 0MB control number
1545-0047 and is included in the estimates shown in the instructions for their information return.
If you have suggestions for making this form simpler, we would be happy to hear from you. You can send us comments through www.irs.gov/FormComments. Or you can write to:
Internal Revenue Service Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526 Washington, DC 20224
Do not send Form 8038-GC to this address. Instead, see Where To File, earlier.

When To File
To file a separate return for a single issue, file Form BD38-GC on or before the 15th day of the 2nd calendar month after the close of the calendar quarter in which the issue is issued.
To file a consolidated return for multiple issues, file Form 8D38-GC on or before February 15 of the calendar year following the year in which the issue is issued.
Late filing_ An issuer may be granted an extension of time to file Form 8D38-GC under section 3 of Rev. Proc. 20D2-48, 2002-37
I.R.B. 531, if it is determined that the failure to file on time isn't due to willful neglect. Write at the top of the form, "Request for Relief under section 3 of Rev. Proc. 2002-48." Attach to the Form 8038-GC a letter briefly stating why the form wasn't submitted to the IRS on time. Also, indicate whether the obligation in question is under examination by the IRS. Don't submit copies of any bond documents, leases, or installment sale documents. See Where To File next.
Where To File
File Form 8038-GC and any attachments at the following address.
Department of the Treasury Internal Revenue Service Center Ogden, UT B4201
Private delivery services (PDS). You can use certain PDS designated by the IRS to meet the "timely mailing as timely filing/paying" rule for tax returns and payments. These PDS include only the following:
DHL Express (OHL): OHL Same Day Service.
Federal Express (FedEx): FedEx Priority Overnight, FedEx Standard Overnight, FedEx 2Day, FedEx International Priority, and FedEx International First.
United Parcel Service (UPS): UPS Next Day Air, UPS Next Day Air Saver, UPS 2nd Day Air, UPS 2nd Day Air A.M., UPS Worldwide Express Plus, and UPS Worldwide Express.
The PDS can tell you how to get written proof of the mailing date.
Other Forms That May Be Required
For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the federal government, use Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate. For private activity bonds, use Form 8038, Information Return for Tax-Exempt Private Activity Bond Issues.
For a tax-exempt governmental obligation with an issue price of $100,000 or more, use Form 8038-G.
Rounding to Whole Dollars
You may show the money items on this return as whole-dollar amounts. To do so, drop any amount less than 50 cents and increase any amount from 50 to 99 cents to the next higher dollar. For example, $1.49 becomes $1 and
$2.50 becomes $3. If two or more amounts must be added to figure the amount to enter on a line, include cents when adding the amounts and round off only the total.

Definitions
Obligations. This refers to a single tax­ exempt governmental obligation if Form 8038-GC is used for separate reporting or to
multiple tax-exempt governmental obligations if the form is used for consolidated reporting.
Tax-exempt obligation. This is any obligation including a bond, installment purchase agreement, or financial lease on which the interest is excluded from income under section 103.
Tax-exempt governmental obligation. A tax-exempt obligation that isn't a private activity bond (see below) is a tax-exempt
governmental obligation. This includes a bond issued by a qualified volunteer fire department under section 1S0(e).
Private activity bond- This includes an obligation issued as part of an issue in which:
More than 10% of the proceeds are to be used for any private activity business use, and
More than 10% of the payment of principal or interest of the issue is either (a) secured by an interest in property to be used for a private business use (or payments for such property) or (b) to be derived from payments for property (or borrowed money) used for a private business use.
It also includes a bond, the proceeds of which (a} are to be used to make or finance loans (other than loans described in section 141(c}(2}} to persons other than governmental units and (b} exceeds the lesser of 5% of the proceeds or $5 million.
Issue. Generally, obligations are treated as part of the same issue only if they are issued by the same issuer, on the same date, and as part of a single transaction, or a series of related transactions. However, obligations issued during the same calendar year (a) under a loan agreement under which amounts are to be advanced periodically (a "draw­ down loan") or (b} with a term not exceeding 270 days, may be treated as part of the same issue if the obligations are equally and ratably secured under a single indenture or loan agreement and are issued under a common financing arrangement (for example, under the same official statement periodically updated to reflect changing factual circumstances}.
Also, for obligations issued under a draw­
down loan that meets the requirements of the preceding sentence, obligations issued during different calendar years may be treated as part of the same issue if all of the amounts to be advanced under the draw-down loan are reasonably expected to be advanced within 3 years of the date of issue of the first obligation. Likewise, obligations (other than private activity bonds) issued under a single agreement that is in the form of a lease or installment sale may be treated as part of the same issue if all of the property covered by that agreement is reasonably expected to be delivered within 3 years of the date of issue of the first obligation.
Arbitrage rebate. Generally, interest on a state or local bond isn't tax-exempt unless the issuer of the bond rebates to the United States arbitrage profits earned from investing proceeds of the bond in higher yielding nonpurpose investments. See section 148(1).

Construction issue. This is an issue of tax­ exempt bonds that meets both of the following conditions:
At least 75% of the available construction proceeds of the issue are to be used for construction expenditures with respect to property to be owned by a governmental unit or a 501(c}(3) organization, and
All of the bonds that are part of the issue are qualified 501(c}(3} bonds, bonds that aren't private activity bonds, or private activity bonds issued to finance property to be owned by a governmental unit or a 501(c)(3} organization.
In lieu of rebating any arbitrage that may be owed to the United States, the issuer of a construction issue may make an irrevocable election to pay a penalty. The penalty is equal to 1-1/2% of the amount of construction proceeds that do not meet certain spending requirements. See section 148(f}(4)(C} and the Instructions for Form 8038-T.
Specific Instructions
!n general, a Form 8038-GC must be completed on the basis of available information and reasonable expectations as of the date of issue. However, forms that are filed on a consolidated basis may be completed on the basis of information readily available to the issuer at the close of the calendar year to which the form relates, supplemented by estimates made in good faith.
Part I- Reporting Authority
Amended return. An issuer may file an amended return to change or add to the information reported on a previously filed return for the same date of issue. If you are filing to correct errors or change a previously filed return, check the Amended Return box in the heading of the fonm.
The amended return must provide all the information reported on the original return, in addition to the new corrected information.
Attach an explanation of the reason for the amended return and write across the top "Amended Return Explanation."
Line 1. The issuer's name is the name of the entity issuing the obligations, not the name of the entity receiving the benefit of the financing. In the case of a lease or installment sale, the issuer is the lessee or purchaser.
Line 2. An issuer that doesn't have an employer identification number (EIN} should apply for one online by visiting the IRS website at www.irs.gov/EIN. The organization may also apply for an EIN by faxing or mailing Fonm SS-4 to the IRS.
Lines 3 and 4. Enter the issuer's address or the address of the designated contact person listed on line 6. If the issuer wishes to use its own address and the issuer receives its mail in care of a third party authorized representative (such as an accountant or attorney}, enter on the street address line "C/0" followed by the third party's name and street address or P.O. box. Include the suite, room, or other unit number after the street address. If the post office doesn't deliver

41109553

One Way Letter 5/31/2023

Re:	Contract dated 5/29/23 and Numbered 41109553 Dear Customer,
In accordance with the terms of your agreement it has become necessary to amend your contract as follows:

BORROWER:

CYPRESS PARK ESTATES COMMUNITY DEVELOPMENT DISTRICT

We look forward to a continuing a mutually beneficial relationship with you as a customer of Navitas Credit Corp. If you have any questions regarding this matter, please feel free to contact us at: 877- 628-4827

Very truly yours,	

Navitas Credit Corp	

41109553

BORROWER:Distric

OBA:

Federal Tax ID#	84-3982493

EQUIPMENT FINANCEAGREEMENT

Cypress ParkEstates Community Development

IU,VITAS CIIDIT co••·

r--lf-loll'yl)<.'Ot au'}

Address:	219 E	LivingstonSL	City	:  Orlando	
SECURED PARTY/ LE	NDER	NAVITAS CREDIT CORP.	VE	NDOR	Legacy	

.
:

State: FL	Zip:	32801	Phone : (770) 378-9695
:	Construc1ion Services Group Inc	AGREEMENT#	41109553

t:qulpment Description/ Quantity/ Serial#/ VIN#		Term in Months: 60		first Payment:	$1,181.57	
1) Playground Per lnvoica # 17934				ast Payment:	$1,181.57	
		Monthly Payments:				
		60@$1,181.57		Security Deposit:	$0.00	
				Other:	$225.00	
Equipment Location (if dimnt I/Ian above address/
975 Baker Dairv Road Haines City FL 33844		Amount Flnanced:$57,999.00		NITIAL AMOUNT DUE:	$2,588.14	
TERMS AND CONDITIONS {PAGE 1 OF 2) - PLEASE READ CAREFULLY BEFORE SIGNING

AGREEMENT: You want to acquire the above equipment ('Equipmentj from a vendor selected by you ('Vendor") and have requested that we finance the purchase price for you. You unconditionally promise toyay us the sum of all of the monthly payments indicated above or on any schedule ("Payments") and you agree to all of the terms stated in this Agreement. You authorize us to insert any Equipment serial numbers and other identification data and any other omitted facts and to correct obvious errors. We may adjust the monthly' payment amount to finance any taxes due at the inceptionof this Agreement or if the actual cost of the Equipment is less than 10% higher or lower than the amount that the Payment amount was based on. At our
discretion we may apply any amounts received from you to any amount you c,.ve under this Agreement
TERM: This Agreement shall become effective and shall commence only after you direct us to make disbursements to your Vendor, we approve your Vendor's invoice, we sign this Agreement and we make the Initial disbursement or any later date that we designate ("Commencement Datej. The term of this Agreement shall terminate upon the date that all of your payment and other obigations have been paid and satisfied in full ("Term'). The Initial Amount Due shall be due on the Commencement Date and subsequent monthly payments are due on the day we select, payable to a location to be designated by us. YOUR OBLIGATION TO PAY AL PAYMENTS AND OTHER OBLIGATIONS TO US IS UNCONDITIONAL AND NOT SUBJE TO ANY REDUCTION, SET-OFF, DEFENSE OR COUNTERCLAIM. THIS AGREEMENT MA NOT BE CANCELED FOR ANY REASON WHATSOEVER AFTER COMMENCEMENT EXCEPT BY YOUR PAYMENT AND SATISFACTION OF ALL OF YOUR DBL	S
HEREUNDER. We have the right, but not the obligation, to electronically withd your bank account to pay for any unpaid Payments or other amounts due he provide us with any bank account informationwe request in order to process el
EQUIPMENT: You agree that you are the owner of and have title to th any software. By signing the Pay Proceeds Direction at the end of this us to pay your Vendor, either as a prepayment to your Ven
acceptance of the Equipment when it is delivered. Y purchase money security interest in the Equipment an accessions and attachments now or hereafter made a p non-cash proceeds, and all general intangibles, accoun You agree, at your expense, to protect and defend our i shall at all times keep the Equipment free from all legalp asserted or made against you or the Equipment. You Equipment upon reasonable notice to you.

NO WARRANTIES: NO AGENCY: WE ARE FINANCING THE EQUIPMENT FOR YOU "AS IS". WE MAKE NO WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF NON-INFRlNGMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE
OR ORDINARY USE IN CONNECTION WITH THIS AGREEMENT. Neither the Vendor nor any other person is our agent nor are they authorized to waive or change any term of this Agreement No represen n, guaranty or warranty by the Vendor or other person is binding on us. No breach by the Ve  will relieve or excuse your obligations to us. If you entered into a maintenance or service ement the cost of which is included in the Payments, you acknowledge we are not  rty to such agreements and are not responsible for any service, repairs, or maintenance of quipment. If you have a dispute with your Vendor about delivery, installation, e or any er matter, you must continue to perform all your obligations, hereunder
Y NOT SELL, TRANSFER, ASSIGN OR LEASE THE R YOUR OBLI	S UNDER THIS AGREEMENT WITHOUT OUR PRIOR
OVAL We may s	ign or transfer this Agreement or any part of it and/or Equipment withe notifying you and you agree that if we do, ) the new
II have the same rights and benefits that we now have but will not have to ur obligations, (ii) the rights of the new Secured Party will not be subject to any es or setoffs that you may have against us or the Vendor, and (iii) you will not
.,._,q,..,aims, defenses or setoffs whatsoever against us or the new Secured Party.
DEPOSIT: As security for the performance of all your obligations hereunder, you
= -.H"'w"'!i""th""u"'s-':'the amount set forth in the section shown as 'SecurityDeposit'. We have not obligated, to apply'the security deposit at any time to any amount you owe.
ed you ave fully performed all of the provisions of this Agreement, we will return to you en remaining balance of the security deposit. We will not keep the security deposit te from our general funds and you shall not be entitled to any interest thereon.
RE USE ND L CA I N· L	: You are responsible for installing and keeping the ipment in good working order and repair. You will keep and use the Equipment only for usiness or commercial purposes and in compliance with all applicable laws, ordinances or regulations and only at your address shown on this Agreement unless we agree to another location. You will not make any alterations to the Equipment without our prior written consent, nor will you permanently attach the Equipment to any real estate. In the event the Equipment is lost,
stolen or damaged, so long as you are not in default hereunder, you shall have the option within
' I	..

By signing thisAgreement you acknowledge that you have rea	stand the terms and conditions on each page of this Agreement, and you warrantthatthe person signing this Agreement on your behalf has the aulhorityto do so and to grant the power of attorney set forth in Section 13of tills Agreement.

THIS AGREEMENT ON BEHALF OF BORROWER:

5/31/23

 Print Name & Jjtle:	

UNCQNQIIIONAL filJARANTY;

For

tlie purposes o(ffils tiiaranty, "you' and "your" refer to the person making the guaranty. "We", "us' and 'our"refer to the Secured Party, our successors or assigns. You acknowledge that you have read and understood the A9reement and this Guaranty and that this is an irrevocable, joint, several and continuing guaranty. You agree that you have an interest in the Borrower's business, economic or otherwise, and that we wouldnot enter into this Agreement without this Guaranty. You unconditionally guaranty that the Borrower will fully and prornptiy pay all its obligations under the Agreement and any future Agreements withus when they are due and winperform all its other obligations under the Agreement even if we modify or renew the Agreement, or if any payments made by the Borrower are rescinded or returned upon the insolvency, bankruptcy or reorganizationof the Borrower, as if the payment had not been made. We do not have to notify you if the Borrower is in default under the Agreement. If the Borrower defautts, you will immediately pay and perform all obligations due under the Agreement. You agree that you will not be released or discharged if we: (i) fail to perfect a security Interest inthe Equipment or any other property which secures the obligations of Borrower or you to us ("Collateralj; (1i)fail to protect the Collateral; or (iii) abandon or release
the Collateral or any obligor under the Agreement or this Guaranty. You agree that we do not have to proceed first against the Borrower or any Collateral. You hereby waive any right of exoneration, notice of acceptance of this Guaranty and of all other notices or demands a any kind in which you may be entitled to except for demand for payment. You will reimburse all expenses we incurin enforcing our rights against Borrower or you, including, wlhout limitation, attorney's fees and costs. We may obtain information from and report to credit reporting agencies to enter into the
Agreement or to enforce this Guaranty. You consent to personal jurisdiction, forum, choice of law and jury trial and transfer of venue waiver as stated in section 17. YOU AND WE EACH WAIVE TRIAL BY JURY IN ANY ACTION RELATING TO THE AGREEMENT OR THIS GUARANTY. This Guaranty may be executed by facsimile, electronic or original signature and such a copy shall be treated as an original for all purposes.

/1/goafln)
Print Name·

X:

Date Sjaned:

TERMS AND CONDITIONS jPAGE 2 OF 21- PLEASE READ CAREFULLY BEFORE SIGNING

one week of such event to: (0 repairor replacethe Equipment or (ii) pay to us the unpaidbalance of the remaining Payments hereunder discounted to present value at the rate of three percent (3%) (or such greater amount that may be required by law) plus any other amounts due or to become due hereunder. UNDER NO CIRCUMSTANCES ARE WE RESPONSIBLE FOR SERVICEOR MAINTENANCEON THEEQUIPMENT.
You will pay when due to your appropriate taxing authority, all taxes, fines and penaltiesrelating to this Agreement or the Equipment, and any applicable registration or titling fees or other governmental charges, that are now or in the future assessed or levied by any government authority or required for the lawful possession anduse of the Equipment. Sales taxes due upon the purchase of the Equipment and any other such governmental charges, if includedin the purchase price, may be financed hereunder.
INDEMN[Y: We are not responsible for any injuriesor losses to you or any other person or property caused by the Installation, operation, maintenance, ownership, possession or use of the Equipment. You agree to reimburse us for, hold us hannless from, and defend us against any claims made against us, and for losses or injuries suffered by us, including, without limitation, those arising out of the negligence, tort, or strict liability claims. This indemnity shall continue even after the Term has expired.

INSURANCE; You agree to maintaincomprehensive liability insurance acceptable to us. You also agree to maintain insurance against the loss of or damage to the Equipment for an amount not less than the replacement cost and name us and our assigns as losspayee. If you fail to timely provide such proof to us, we may, but are not obligated to, obtain property loss insurance to protect our interests in the Equipment. If we secure insurance in the form and amounts we deem reasonable:(i) you will reimburse the premium, which may be higher than a premium that you might pay if you obtained the insurance, (ii) the premium may include a profit to us and/or one of our affiliatesthrough an investment in reinsurance or otherwise, and (iii) we will not name you as an insured party and your interests may not be fully protected. Any lnsurence proceeds received for the Equipment wrn be applied, at our option, to repair or replace the Equipment, or to the remaining payments due or that become due hereunder, discounted at three percent (3%) (or such greater amount that may be required by law).
Q.EFAULT: You will be in default if: (i) you do not pay any amount when due; (ii) you break any of your promisesor representations hereunder or under any other agreement with us;(iii) you become insolvent,commence dissolutionproceedings, assign your assets for the benefil. of your creditors, or a trustee is appointed to take control of your assets; (iv) you or any guarantor enters (voluntarily or involuntarily) into a bankruptcy or other insolvency-related proceeding: (v) y default on any obligations to any of your other creditors; (vi) you have made any untrue misleading representations to us; (v11) any guarantordies;or (viii) you change your name,state organization, chief executive office and/or place of residence without providing us with 30 days prior written notice of such change.
REMEDIES: In the event of a default by you, we can: (i) cancel this Agreef];lft;.OO"tle<:tq
you in default under any ether agreement you have with us, and exercise provided to us thereunder; Qil)disablethe Equipment or require that you ship at your expense; (Iv} accelerate and demand that you pay all the remainingP this Agreement discounted to present value at three percent (3%) (or such may be reguired bY. law) together with any other amounts due hereunder; and/
the remedies available to us under the UCC or any other law, including re Equipment or other Collateral. Interest shall accrue on all a	us
default until paid at the rate of the lesser of (i) one and one-h	.5%) pel',nirilll"illlr:Wii
the maximum rate pennltted by law ("Remedy Interest Ra			ou agree to reimburs ,.,........ ... charges, costs, expenses and attorney's fees that we hav.	 pay to enforce this reement. If you return the Equipment pursuant to clause • ii)'	e or we take po	ion of the Equipment, you agree to pay the cost of repossession, st		, shipping, repairin			selling or leasing the Equipment. You agree that we do not have to		you that we ares		 or leasing the Equipment except as otherwise required by law. Y				agree that w		entitled to abandon the Equipment if we believe it to be in our best intere
BORROWER REPRESENTATIONS AND OTHER AUT	S: You hereby
represent, warrant and promise to us that: (i) you have had an adequate opportunity to study this Agreement and consult your legal and other advisors before signing, and this Agreement is enforceable against you 1n accordance with its terms: (ii) you are not subject to any bankruptcy proceeding; and (iii) if this document was sent by you to us electronically, t has not been altered in any way and any alteration or revision to any part of this or any attached documents will make all such alterations or revisions non-binding and void. You hereby authorize us, and appoint us or our designee as your attorney-in-fact, to endorse insurance proceeds and to execute and file financing statements (naming you as "Debtor') and documents of title and registration (If applicable) on the Equipment or Collateral, and you agree to reimburse us for our out-of-pocket costs relating thereto.

FEES AND CHARGES: If any part of any Payment is not made by you when due, you agree to pay us fifteen percent (15%) of each past due amount (or the maximum amount pennltted by law, if less than 15%). You agree to pay an administrative fee of fifty dollars ($50.00) if any check or ACH is dishonored or returned. AS A MATERIAL INDUCEMENT TO USTO ENTERINTOTHIS AGREEMENT ANDFINANCE YOUREQUIPMENT, YOU AGREE THATIF ANY PAYMENT,CHARGE OR FEEBILLEDOR COLLECTEDBYUS ISFOUND TO EXCEED THE MAXIMUMAMOUNTALLOWEDBY LAW, THEN(I) WEMAY MODIFY ANY SUCH EXCESSIVE AMOUNT BILLED SO AS TO MAKE IT NOT EXCESSIVE, (Ill WE MAY REFUND TO YOU THE EXCESSIVE AMOUNT, TOGETHER WITH INTEREST AT THE "REMEDYINTEREST RATE" (AS DEFINEDIN SECTION 12), AND (111) THEFOREGOING SHALL BE YOUR EXCLUSIVI: REMEDY FOR THE BILLIN(. OR COLLECTING OF THE EXCESSIVEAMOUNTSANDYOU WILLNOTRAISEANY OTHERCLAIM,COMPLAINT OR OBJECTIONWITH RESPECTTHERETO.
ENTIRE AGREEMENT; CHANGES: This Agreement contains the entire agreement between you and us relatin9 to the financing of the Equipment. and it may not be terminatedor otherwise changed except m writing by both of us. A limiting endorsement on a check or other form of payment will not be effective to modifyyour obligationsor any of the other tenns of this Agreement, and we may apply any payment received without being bound by such limiting endorsements.
COMPLIANCE: NOTICES: In the event you fail to complywith any terms of this Agreement, we can, but we do not have to, take any action necessary to effect your compliance upon ten
(10) days prior written notice to you. ff we are required to pay any amount to obtain your compliance, the amount we pay plus all of our expense in causing your compliance, shall become additional oblig • ns and shall be paid by you together with the next due payment This Agreement is for benefit of and is binding upon you, your personal representatives, successors and assigns notice required by this Agreement or the UCC shall be deemed to be deliveredwhen a re  properly directed to tile intended recipient has been (I) deposited with the US Postal Servi i) transmitted by facsimileor through the Internet, provlded thereis reasonably sufficient pr at it was received by the intended recipient; or (iiQ has been personal,'Ul-· ••.i..-
ION: THIS AGREEMENTSHALLNOTBE BINDING UNTIL ITING, AND YOU HEREBY STIPULATE THAT OUR IS AGREEMENTIN SOUTHCAROLINA FOLLOWING
URE MEANS THA  HIS AGREEMENTWAS MADE IN SOUTH CAROLINA.
ACKNOWLEDGE THAT OUR ACCOUNT SERVICING OPERATIONS HOSE SERVICING YOUR ACCOUNT) ARE LOCATED IN SOUTH OU HEREBY AGREE THATTHISAGREEMENT SHALL BE GOVERNEDBY OF THE STATE OF SOUTH CAROLINA, BUT WITHOUTGIVING EFFECT TO
"'_,..LawS OF SOUTH CAROLINA GOVERNINGCHOICE OF LAW. YOU CONSENT TO RISDICTIONOF THESTATEOR FEDERALCOURTSLOCATEDIN THESTATE OF ROLINA FOR THE COUNTY OF LEXINGTON, AND AGREE THAT ANY
CTIO	PROCEEDINGSINITIATED BY YOU ARISING DIRECTLY OR INDIRECTLY T OF	 AGREEMENT (WHETHER SOUNDINGIN BREACH OF CONTRACT, TORT OTHER ISE) SHALL BEBROUGHT ONLYINSUCHCOUNTY INSOUTHCAROLINA; VIDEO HOWEVER, WE MAY BRING ACTION AGAINST YOU IN ANY STATE OR ERAL COURTS OUTSIDE SOUTH CAROLINA WE CHOOSE IN OUR SOLE RETION, PROVIDED ONLY THAT SUCH COURT HAS PROPER JURISDICTION. IN
E EVENT THIS AGREEMENT IS ASSIGNED BY US, YOU CONSENT TO THE URISDICTIONOF THESTATE AND FEDERAL COURTS OF THE ASSIGNEE'SPRINCIPAL PLACE OF BUSINESS. YOU UNDERSTAND THAT YOUR AGREEMENT TO SOUTH CAROLINA LAW AND YOUR SUBMISSION TO PERSONAL JURISDICTION IN SOUTH CAROLINA DIRECTLY BENEFITS US AND IS A MATERIAL INDUCEMENT TO OUR ENTERINGINTO THIS AGREEMENT AND FINANCING YOUR EQUIPMENT.YOU AND WE EACH HEREBY WAIVE TRIAL BY JURY IN ANY ACTION OR PROCEEDING, WHETHER BROUGHTIN CONTRACTOR TORT,OR AT LAW OR IN EQUITY, ARISINGOUT OFOR IN ANY WAYRELATEDTOTHISAGREEMENT.
18. MISCELLANEOUS; No delay or failure by us to enforce our rights under this Agreement shall prevent us from enforcing any rights at a later time. If any part of this Agreement is detennined to be unenforceable, all other parts will remain in full force and effect. Any Equipment discounts we may negoUate w h Vendor accrue solely to our benefit. The original of this Agreement shall be that copy which bears your electronic, facsimile or original signature, andour electronic or original signature.

PAY PROCEEDS DIRECTION TO FINANCE AGREEMENT

You hereby irrevocablyInstruct us to pay the Vendor(s) listed below for the Equipment listedon Vendor(s} proposalsapproved by us. You hereby acknowledge that the Equipment has been delivered and is acceptable in anrespects OR the Equipment has NOT been delivered bu1 you hereby authorize us to make payment to the Vendor(s) in order to initiate delivery. Disbursement by us in accordance ·ththe foregoin nstructions shall constttutepayment and delivery to and receipt by you of any and all such proceeds.

X	Print Name & Title:		Dale SI ned: 
( e)
I hereb authoriz inm absence			to veri m direction to disburse funds. Vendor: Legacy Construction Services GroupInc	Vendor:		Vendor:
6:i!,}llEFA

41109553

NAVITAS

CIIEOIT co•,.

IA UNITED COMMUNITY BAMK COMPANY

••••

Progress Payment Agreement

Lessee/Borrower/Rentee: Cypress Park Estates Community

Agreement #: 41109553

 Develo ment Distric	

In reference to the Agreement # 41109553, bet\Neen Lessee/Borrower/Rentee and Navitas Credit Corp. as Lessor/Secured Party/Rentor:

You negotiated with your supplier, Legacy Construction Services Group Inc ("Supplier''), to acquire the equipment described in the Agreement (the "Agreement"). Your Supplier requires the p  ment of all or a substantial portion of the total cost of the equipment (the "Equipment Advance") to be paid to Supplier ·or to your receipt and acceptance of the equipment. At your request, we will advance the Equipment Advance to Sup  r prior to your receipt and acceptance of the equipment when we receive an invoice acceptable to us, but only on the  ndition that you agree to the following terms:

To induce us to make the Equipment Advance to Supplier prior.							cceptance of the equipment, YOU AGREE THAT YOUR OBLIGATIONS (INCLUDING YOUR ..,l;'llllllli!kr OBLIGA  S) UNDER THE AGREEMENT HEREBY IMMEDIATELY COMMENCE. YOU FURTHER							T THE AGREEMENT IS NON-CANCELABLE AND THAT YOU WILL TIMELY PERFORM ALL OF Y						ONS UNDER THE AGREEMENT, INCLUDING MAKING THE MONTHLY PAYMENTS, WITHOUT ANY C					ET-OFF, EVEN IF: (a) SOME OR ALL OF THE EQUIPMENT IS NOT DELIVERED AND/OR INST	• (b		EQUIPMENT IS UNTIMELY DELIVERED AND/OR UNTIMELY INSTALLED; AND/OR (c) THE EQU1Ulllle4"'-EltiES			AT THE TIME OF DELIVERY OR THEREAFTER, OPERATE PROPERLY OR THERE IS AN		CO  MANCE IN THE EQUIPMENT OR IN ANY SERVICE.

You acknowledge that you understand and agr				t you are not satisfied with the delivery or installation of the equipment that you shall only I	rs			essor/Secured Party/Rentor such as the manufacturer, installer, or Supplier and shall not  ert against L.l!sllfi§, red Party/Rentor any claim or defense you may have with reference to the equipment, its d		·very, or its installation. Upon your signing below, you authorize and direct us to pay the Equipment A			 plier and your promises under the Agreement will be irrevocable and unconditional in all respects and p			n immediately and shall be due continuously hereafter.

A facsimile, electronic, or original cop signature will be treated as an original.

nature on this Agreement bearing our original or electronic authorized

 NAVITAS CREDIT CORP.	

Cypress Park Estates Community Development
 Distric

Lessor/Secured Party/Rentor	Lesse

Signature		Trisen Seabrook Customer Service Representative

Title

5/31/23

Title

Date	Date

J.$ info@navitascredit.com	[;:J www.navitascredit.com

41109553

Corporate Guaranty

Lessee/Borrower/Rentee: Cypress Park Estates Community

 Development District	

Agreement #:41109553

To induce Navitas Credit Corp. (“Lessor/Secured Party/Rentor”) to lease, rent, or finance equipment to the above named (“Lessee/Borrower/Rentee”) pursuant to the terms of the Agreement, which is also referenced above:
The undersigned hereby absolutely and unconditionally Guarantees to Lessor/Secured Party/Rentor full and prompt payment and performance when due of each and every obligation of Lessee/Borrower/Rentee under the Agreement.
The undersigned hereby waives: (i) notice of the acceptance hereof by Lessor/Secured Party/Rentor and of the creation and existence of the Agreement, and (ii) any and all defenses otherwise available to a guarantor or accommodation party.
This Guaranty is absolute and unconditional, and the liability of the undersigned hereunder shall not be affected or impaired in any way by any of the following, each of which Lessor/Secured Party/Rentor may agree to without the consent of the undersigned:
(a) any extension or renewal of the Agreement whether or not for longer than the original period; (b) any change in the terms of payment or other terms of the Agreement or any collateral therefore or any exchange, release of, or failure to obtain any collateral therefore; (c) any waiver of forbearance granted to Lessee/Borrower/Rentee or any other person liable with respect to the Agreement or any release of, compromise with, or failure to assert rights against Lessee/Borrower/Rentee or any such other person; and (d) the application or failure to apply in any particular manner any payments or credits on the Agreement or any other obligation Lessee/Borrower/Rentee may owe to Lessor/Secured Party/Rentor.
Lessor/Secured Party/Rentor shall not be required before exercising and enforcing its rights under the Guaranty first to resort for payment under the Agreement to Lessee/Borrower/Rentee or to any other person or to any collateral. The undersigned agrees not to obtain reimbursement or payment from Lessee/Borrower/Rentee or any other person obligated with respect to the Agreement or from any collateral for the Agreement until the obligations under the Agreement have been fully satisfied.
The undersigned shall be and remain liable for any deficiency following the initiation of bankruptcy or other insolvency actions affecting the Agreement or the Lessee/Borrower/Rentee, whether or not the liability of the Lessee/Borrower/Rentee is discharged in whole or in part by such action.
The undersigned authorizes Lessor/Secured Party/Rentor to execute and file a Uniform Commercial Code (UCC) financing statement evidencing your obligation hereunder, and agrees to pay all costs, expenses and attorney’s fees paid or incurred by Lessor/Secured Party/Rentor in endeavoring to enforce the Agreement and this Guaranty.
If any payment from the Lessee/Borrower/Rentee or anyone else is applied to the Agreement and is thereafter set aside, recovered, rescinded, or required to be returned for any reason (including as a preference in the bankruptcy of Lessee/Borrower/Rentee), the obligations under the Agreement to which such payment was applied shall for purposes of this Guaranty be deemed to have continued in existence notwithstanding such application, and this Guaranty shall be enforceable as to such obligations as fully as if such application had never been made.
If more than one entity signs this Guaranty, then the liability of the undersigned hereunder shall be joint and several, and this Guaranty shall be enforceable in full against each of the undersigned.
This Guaranty shall be binding upon the estate, heirs, successors and assigns of the undersigned, and shall inure to the bene fit of the successors and assigns of Lessor/Secured Party/Rentor.

Consent to Law, Jurisdiction and Venue. If the Lessor/Secured Party/Rentor assigns the Agreement to a third party, then any claim arising under or related to this Guaranty will be adjudicated in a state or federal court located within the county and state where the assignee is located. If the Agreement is not assigned, then the Guarantor agrees that this agreement will be governed by the laws of the State of South Carolina, where the Lessor/Secured Party/Rentor maintains offices and consents to adjudicat ion in that state. Each party waives trial by jury. This Guaranty may be executed by facsimile, electronic or original signature and such a copy shall be treated as an original for all purposes.

Guarantor:  Krpc East Johnson, Llc	 By: 	
(Name of Corporation or Partnership)	(Authorized Signature)

Federal Tax ID Number:

84-2244155

McKinzie D. Terrill Manager

(Print Name & Title)

Date:

	05/27/2023	

Phone Number:  321-231-0757	

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311

Cypress Park Estates Ph 2 & 3 pl...

Project Name

Invoice
Date	Invoice #	
05/14/2023	17934	

Cypress Park Estates Community Develop District 219 E. Livingston St Orlando, FL 32801

Customer / Bill To

Ship To	
4975 Baker Dairy Road Haines City, FL 33844		

WE WILL BEAT ANY PRICE BY 5%!

Item	Description	Qty	Cost	Total:	
	1. Supply and install Ph 2 playground to include: 1x				
	Village Greens PKP005N, 3x benches w backs				
	in-ground, 1x 32 gal receptacle 28x32 area with 30x				
	of the 12inch x 4ft plastic borders, 1x ADA half ramp				
	and 35cuyds of EWF				
	2. Supply and install Ph 3 playground to include: 1x				
	Village Greens PKP005N, 2x benches w backs				
	in-ground, 1x 32 gal receptacle, 28x32 area with				
	30x of the 12inch x 4ft plastic borders, 1x ADA half				
	ramp and 35 cuyds of EWF.				
	**PLAY EQUIPMENT**				
QS-23-PKP005N	Village Greens - Neutral	2	7,707.00	15,414.00T	
Shipping	Combined Shipping and Freight Charges	1	2,520.00	2,520.00	
	**SITE FURNISHINGS**				
22-B6WBULS	6' UltraLeisureStandard Bench with Back,	5	626.254	3,131.27T	
	In-Ground Mount				
22-TR32	32 Gallon Regal Standard Trash Receptacle,	2	5.99	11.98T	
	Receptacle Only				
22-MSBR3-SM	Wave Bike Rack, 3-Hump, Surface Mount (concrete	1	835.62	835.62T	
	pad provided by owner)				
Shipping	Combined Shipping and Freight Charges	1	683.80	683.80	
	**BORDERS AND SURFACING**				
	Subtotal:	
	Sales Tax: (7.0%)	
	Total:	

Pro Playgrounds 8490 Cabin Hill Road Tallahassee, FL 32311

Cypress Park Estates Ph 2 & 3 pl...

Project Name

Invoice
Date	Invoice #	
05/14/2023	17934	

Cypress Park Estates Community Develop District 219 E. Livingston St Orlando, FL 32801

Customer / Bill To

Ship To	
4975 Baker Dairy Road Haines City, FL 33844		

WE WILL BEAT ANY PRICE BY 5%!

Item	Description	Qty	Cost	Total:	
22-2BY2412	12" Border Timber With Spike	60	31.00	1,860.00T	
22-2BY2FMR12	ADA Half Ramp Flush Mount 12"	2	399.00	798.00T	
GFAB	Weed Barrier	900	0.20	180.00T	
LPIN	Landscape pins for securing underlayment	2	55.00	110.00	
EWFM	Engineered Wood Fiber Playground Mulch	70	50.00	3,500.00T	
Shipping	Combined Shipping and Freight Charges	1	2,760.00	2,760.00	
	**RAW MATERIALS & INSTALLATION**				
PT	Portable Toilet	2	150.00	300.00T	
TRSH	Fees for dumpsters, debris hauling or other	2	725.00	1,450.00	
	trash/materials removal including spoils from				
	ecavations.				
SSTEERWK	Skid Steer Weekly Rental	1	1,256.03	1,256.03	
CC80	Concrete for Anchoring - Delivered Cost	45	8.40	378.00	
WHFLIFT	Warehouse Fork Lift Daily Rental	1	374.65	374.65	
DELFEE	Equipment Delivery / Pick Up Fees	1	300.00	300.00	
LBR	Labor and Installation both locations, equipment,	1	22,252.50	22,252.50	
	site furnishings and borders-surfacing				
DSC	Discount		-1,939.01	-1,939.01	
	Subtotal:	
$56,176.84	
	Sales Tax: (7.0%)	$1,822.16	
	Total:	$57,999.00	

Section XVII

Section C

Cypress Park Estates CDD
Field Management Report

January 06, 2025 Marshall Tindall
Field Services Manager GMS

l

HurriCcaonmepRleeteviews

Amenity Review & Maintenance

Facilities are neat and well maintained.
Broken lanai fan was replaced. All fans and lanai canopy were cleaned at the same time.
Malfunctioning urinal was inspected and valve controller replaced to return it to working order.
Pavillion bench support was repaired by reinforcing stiffener arm.
Replaced amenity lightbulbs and fixture batteries as needed.

Complete

Landscape Review

Mowing and detailing is satisfactory.
Some irrigation repairs were done including on mainline. Ball valve in field failed due to original installation procedure. Landscaper had the issue resolved promptly as soon as it was brough to our attention.
Reviewed plant beds. Fine tuning replacements and fill ins plan.

3

Cypress Park Estates CDD Field Management Report | GMS 2025

Completed

No idle signs installed near main entry to deter traffic obstruction.
Entry light fixtures were checked and outlets were added where able to accommodate future holiday décor.
Reinstalled fallen monument sign foam trim.

Site Items

Coordinating with vendor on approved proposal.
Police investigation continued with leads, but no additional information has come to light.

In Progress

Storm drains

Storm drains review and routine cleanouts of MES are being scheduled where needed.
.

Conclusion

For any questions or comments regarding the above information, please contact me by phone at 407-346-2453, or by email at mtindall@gmscfl.com. Thank you.

Respectfully, Marshall Tindall

Section 1

Item will be provided under separate cover.

Section D

Section 1

Cypress Park Estate Community Development District

Summary of Check Register

November 2, 2024 to January 15, 2025

Fund	Date	Check No.'s	Amount

General Fund		
	11/5/24	474-475	$	2,386.25	
	11/12/24	476	$	7,396.90	
	11/19/24	477-478	$	858.00	
	11/26/24	479-486	$	14,480.29	
	12/3/24	487	$	900.00	
	12/10/24	488-489	$	1,490.74	
	12/17/24	490-494	$	22,409.90	
	1/8/25	495-496	 $	820,775.17 	
			 $	870,697.25 	

Total Amount	$	870,697.25

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/25	PAGE	1
*** CHECK DATES 11/02/2024 - 01/15/2025 ***	CYPRESS PARK ESTATES - GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/05/24 00028 10/30/24 13499	202410 330-57200-48200	*	475.00
CLEANING SVCS-OCT24
10/30/24 13499	202410 330-57200-48200	*	520.00
TRASH COLLECT SVCS-OCT24
CSS CLEAN STAR SERVICES CENTRAL FL	995.00 000474
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/05/24 00003	8/01/24 155	202408 320-53800-34000	*	1,391.25
FIELD MANAGEMENT-AUG24
GOVERNMENTAL MANAGEMENT SERVICES	1,391.25 000475
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/12/24 00003 11/01/24 167	202411 310-51300-34000	*	3,750.00
MANAGEMENT FEES-NOV24
11/01/24 167	202411 310-51300-35200	*	105.00
WEBSITE MANAGEMENT-NOV24
11/01/24 167	202411 310-51300-35100	*	157.50
INFORMATION TECH-NOV24
11/01/24 167	202411 310-51300-31300	*	612.50
DISSEMINATION SVCS-NOV24
11/01/24 167	202411 330-57200-48300	*	1,041.67
AMENITY ACCESS-NOV24
11/01/24 167	202411 310-51300-51000	*	.72
OFFICE SUPPLIES-NOV24
11/01/24 167	202411 310-51300-42000	*	61.84
POSTAGE-NOV24
11/01/24 168	202411 320-53800-34000	*	1,667.67
FIELD MANAGEMENT-NOV24
GOVERNMENTAL MANAGEMENT SERVICES	7,396.90 000476
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/19/24 00029 11/12/24 GLC24812 202411 330-57200-48400	*	858.00
PLAYGROUND EQUIP-NOV2024
GOVERNMENT LEASING, LLC	858.00 000477
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/19/24 00034 10/31/24 11931630 202410 330-57200-34500	*	2,564.84
SECURITY SVCS-OCT24
10/31/24 11931630 202410 330-57200-34500	V	2,564.84- SECURITY SVCS-OCT24
SECURITAS SECURITY SERVICES USA,INC	.00 000478
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00042 11/19/24 AM111920 202411 310-51300-11000	*	200.00
SUPERVISOR FEES-11/19/24
ALAN B METZGER	200.00 000479
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00037 11/19/24 AK111920 202411 310-51300-11000	*	200.00
SUPERVISOR FEES-11/19/24
ALLAN E. KEEN	200.00 000480
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CPE	CYP PARK EST	CWRIGHT

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/25	PAGE	2
*** CHECK DATES 11/02/2024 - 01/15/2025 ***	CYPRESS PARK ESTATES - GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
11/26/24 00015 11/18/24 10741	202410 310-51300-31500	*	244.00
ATTORNEY SVCS-OCT24
KILINSKI VAN WYK, PLLC	244.00 000481
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00041 11/19/24 KB111920 202411 310-51300-11000	*	200.00
SUPERVISOR FEES-11/19/24
KRISTINA BOLEN	200.00 000482
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00031 11/12/24 61893821 202411 330-57200-48100	*	40.00
PEST CONTROL-NOV2024
MASSEY SERVICES INC.	40.00 000483
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00024 10/30/24 15220	202410 320-53800-47300	*	165.29
REPAIR BROKEN 2 MAIN LINE
11/01/24 15041	202411 320-53800-46200	*	9,631.00
LANDSCAPE MAINT-NOV24
PRINCE & SONS INC.	9,796.29 000484
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00026 10/01/24 24540	202410 330-57200-48500	*	1,650.00
POOL MAINTENANCE-OCT24
10/01/24 24540	202410 320-53800-47500	*	150.00
FOUNTAIN MAINT-OCT24
11/01/24 25379	202411 330-57200-48500	*	1,650.00
POOL MAINTENANCE-NOV24
11/01/24 25379	202411 320-53800-47500	*	150.00
FOUNTAIN MAINT-NOV24
RESORT POOL SERVICES	3,600.00 000485
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
11/26/24 00036 11/19/24 SR111920 202411 310-51300-11000	*	200.00
SUPERVISOR FEES-11/19/24
STEVEN A. ROSSER	200.00 000486
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/03/24 00019 11/26/24 6633-11- 202411 310-51300-31200	*	450.00
SPCIAL ASSESS BONDS-S20A1
11/26/24 6633-11- 202411 310-51300-31200	*	450.00
SPCIAL ASSESS BONDS-S20A2
AMTEC	900.00 000487
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/10/24 00007 12/06/24 4721AUGU 202408 310-51300-31100	*	175.00
ENGINEERING SVCS-AUG24
12/06/24 4721JULY 202407 310-51300-31100	*	175.00
ENGINEERING SVCS-JUL24
12/06/24 4721NOVE 202411 310-51300-31100	*	175.00
ENGINEERING SVCS-NOV24
GADD & ASSOCIATES	525.00 000488
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CPE	CYP PARK EST	CWRIGHT

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/25	PAGE	3
*** CHECK DATES 11/02/2024 - 01/15/2025 ***	CYPRESS PARK ESTATES - GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
12/10/24 00038 11/30/24 00068197 202411 310-51300-48000	*	965.74
NOT OF LANDOWNER/BOS MEET
GANNETT MEDIA CORP DBA	965.74 000489
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/17/24 00028 11/19/24 13709	202411 330-57200-48200	*	475.00
CLEANING SVCS-NOV24
11/19/24 13709	202411 330-57200-48200	*	500.00
TRASH COLLECT SVCS-NOV24
CSS CLEAN STAR SERVICES CENTRAL FL	975.00 000490
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/17/24 00003 10/31/24 170	202410 330-57200-48000	*	566.12
PAVERS/CANOPY/ATTIC DOOR
10/31/24 171	202410 330-57200-48000	*	965.00
MILTON-PREP/DOC/RESET
12/01/24 172	202412 310-51300-34000	*	3,750.00
MANAGEMENT FEES-DEC24
12/01/24 172	202412 310-51300-35200	*	105.00
WEBSITE ADMIN-DEC24
12/01/24 172	202412 310-51300-35100	*	157.50
INFORMATION TECH-DEC24
12/01/24 172	202412 310-51300-31300	*	612.50
DISSEMINATION SVCS-DEC24
12/01/24 172	202412 330-57200-48300	*	1,041.67
AMENITY ACCESS-DEC24
12/01/24 172	202412 310-51300-51000	*	2.80
OFFICE SUPPLIES-DEC24
12/01/24 172	202412 310-51300-42000	*	15.92
POSTAGE-DEC24
12/01/24 172	202412 310-51300-42500	*	55.80
COPIES-DEC24
12/01/24 173	202412 320-53800-34000	*	1,666.67
FIELD MANAGEMENT-DEC24
GOVERNMENTAL MANAGEMENT SERVICES	8,938.98 000491
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/17/24 00029 12/12/24 GLC24812 202412 330-57200-48400	*	858.00
PLAYGROUND EQUIP-DEC24
GOVERNMENT LEASING, LLC	858.00 000492
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/17/24 00015 12/10/24 10922	202411 310-51300-31500	*	1,943.28
ATTORNEY SVCS-NOV24
KILINSKI VAN WYK, PLLC	1,943.28 000493
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
12/17/24 00024 11/14/24 15361	202411 320-53800-47300	*	63.64
REPAIR 2 BROKEN 6" SPRAYS
12/01/24 15471	202412 320-53800-46200	*	9,631.00
LANDSCAPE MAINT-DEC24
PRINCE & SONS INC.	9,694.64 000494
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CPE	CYP PARK EST	CWRIGHT

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	1/22/25	PAGE	4
*** CHECK DATES 11/02/2024 - 01/15/2025 ***	CYPRESS PARK ESTATES - GENERAL

CHECK	VEND# DATE	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS					AMOUNT	....CHECK.....
AMOUNT	#	
1/08/25 00034	12/31/24 12004201 202412 330-57200-34500	*					3,248.12	

- - - - - - - -	SECURITY SVCS-DEC24
SECURITAS SECURITY SERVICES USA,INC
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	
-	
-	
-	
-	3,248.12 000495
- - - - - - - - - - - - - -	
1/08/25 00009	1/08/25 01082025 202501 300-20700-10200	*
1/08/25 01082025 202501 300-20700-10200	*					981.77
157.97	
	DEBT ASSESS TSFR S20 AA2
1/08/25 01082025 202501 300-20700-10200	*					963.24	
	DEBT ASSESS TSFR S22
1/08/25 01082025 202501 300-20700-10200	*					380,677.38	
	DEBT ASSESS TSFR S20 AA1
1/08/25 01082025 202501 300-20700-10200	*					61,252.68	
	DEBT ASSESS TSFR S20 AA2
1/08/25 01082025 202501 300-20700-10200	*					373,494.01	
	DEBT ASSESS TSFR S22
CYPRESS PARK ESTATES CDD/US BANK					817,527.05 000496	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	-	-	-	-	- - - - - - - - - - - - - -	
	TOTAL FOR BANK A					870,697.25	
	TOTAL FOR REGISTER					870,697.25	

BANK A GENERAL FUND

DEBT ASSESS TSFR S20 AA1

CPE	CYP PARK EST	CWRIGHT

Section 2

Cypress Park Estates
Community Development District

Unaudited Financial Reporting
December 31, 2024

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2020 A1 & A2	

5	
	Debt Service Fund Series 2022	

6	
	Capital Projects Fund Series 2020 A1 & A2	

7	
	Capital Projects Fund Series 2022	

8	
	Capital Reserve Fund	

9-10	
	Month to Month	

11	
	Long Term Debt	

12	
	Assessment Receipt Schedule	

Combined Balance Sheet December 31, 2024

	General Fund	Debt Service Fund	Capital Projects Fund	Totals Governmental Funds	
Assets:
Cash:
Operating Account	

$	1,527,395	$	

-	$	

-	

$	1,527,395	
Capital Projects Account Investments:
Series 2020 A1	$	-	$	-	$	7,000	$	7,000	
Reserve	$	-	$	221,250	$	-	$	221,250	
Revenue	$	-	$	57,802	$	-	$	57,802	
Series 2020 A2 Reserve	
$	-	$	35,578	$	-	$	35,578	
Revenue Series 2022
Reserve	$	-	$	12,673	$	-	$	12,673

$	-	$	216,663	$	-	$	216,663	
Revenue	$	-	$	68,391	$	-	$	68,391	
Construction Phase 2	$	-	$	-	$	0	$	0	
Construction Phase 3	$	-	$	-	$	418	$	418	
Due from General Fund	$	-	$	817,527	$	-	$	817,527	
Prepaid Expenses	$	1,347	$	-	$	-	$	1,347	
Total Assets	$	1,528,742	$	1,429,883	$	7,418	$	2,966,043	
Liabilities:
Accounts Payable	$	16,127	

$	

-	$	

-	$	16,127	
Due to Debt Service	$	817,527	$	-	$	-	$	817,527	
Total Liabilites	$	833,654	$	-	$	-	$	833,654	
Fund Balance:
Nonspendable:
Prepaid Items	$	1,347	

$	

-	$	

-	$	1,347	
Restricted for:
Debt Service - Series 2020	
$	
-	$	770,372	$	-	
$	770,372	
Debt Service - Series 2022	$	-	$	659,511	$	-	$	659,511	
Capital Projects - Series 2020	$	-	$	-	$	7,000	$	7,000	
Capital Projects - Series 2022	$	-	$	-	$	418	$	418	
Unassigned	$	693,741	$	-	$	-	$	693,741	
Total Fund Balances	$	695,088	$	1,429,883	$	7,418	$	2,132,389	
					
Total Liabilities & Fund Balance	$	1,528,742	$	1,429,883	$	7,418	$	2,966,043	

	Adopted	Prorated Budget	Actual		
	Budget	Thru 12/31/24	Thru 12/31/24		Variance	

Revenues:						
Assessments - On Roll	$	762,566	$	656,026	$	656,026	$	-	
Total Revenues	$	762,566	$	656,026	$	656,026	$	-	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	3,000	$	800	$	2,200	
Engineer Fees	$	10,000	$	2,500	$	175	$	2,325	
Attorney Fees	$	25,000	$	6,250	$	2,187	$	4,063	
Annual Audit	$	7,500	$	-	$	-	$	-	
Assessment Adminstration	$	5,565	$	5,565	$	5,565	$	-	
Dissemination	$	7,350	$	1,838	$	1,838	$	-	
Arbitrage	$	1,350	$	900	$	900	$	-	
Trustee Fees	$	12,120	$	10,769	$	10,769	$	-	
Management Fees	$	45,000	$	11,250	$	11,250	$	-	
Information Technology	$	1,890	$	473	$	473	$	-	
Website Maintenance	$	1,260	$	315	$	315	$	-	
Postage & Delivery	$	500	$	125	$	89	$	36	
Insurance	$	6,817	$	6,817	$	6,631	$	186	
Copies	$	100	$	25	$	56	$	(31)	
Legal Advertising	$	2,000	$	500	$	966	$	(466)	
Other Current Charges	$	1,000	$	250	$	158	$	92	
Office Supplies	$	50	$	13	$	4	$	9	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative	$	139,677	$	50,763	$	42,349	$	8,414	

	Adopted	Prorated Budget	Actual		
	Budget	Thru 12/31/24	Thru 12/31/24	Variance	

Operations & Maintenance					
Field Expenditures
Property Insurance	

$	16,708	

$	16,708	

$	16,628	

$	80	
Field Management	$	20,000	$	5,000	$	5,001	$	(1)	
Landscape Maintenance	$	128,870	$	32,218	$	28,893	$	3,325	
Landscape Replacement	$	25,000	$	6,250	$	-	$	6,250	
Streetlights	$	35,000	$	8,750	$	5,219	$	3,531	
Electric	$	13,068	$	3,267	$	2,995	$	272	
Water & Sewer	$	82,000	$	20,500	$	8,071	$	12,429	
Sidewalk & Asphalt Maintenance	$	2,500	$	625	$	-	$	625	
Irrigation Repairs	$	6,000	$	1,500	$	362	$	1,138	
Fountain Maintenance	$	1,800	$	450	$	300	$	150	
General Repairs & Maintenance	$	15,000	$	3,750	$	-	$	3,750	
Contingency	$	10,000	$	2,500	$	870	$	1,630	
Subtotal Field Expenditures	$	355,946	$	101,518	$	68,339	$	33,178	

Amenity Expenditures
Amenity - Electric	

$	24,684	

$	6,171	

$	4,628	

$	1,543	
Amenity - Water	$	22,416	$	5,604	$	4,321	$	1,283	
Playground Lease	$	37,164	$	9,291	$	9,291	$	-	
Internet	$	2,500	$	625	$	300	$	325	
Pest Control	$	720	$	180	$	360	$	(180)	
Janitorial Service	$	14,705	$	3,676	$	2,965	$	711	
Amenity Access	$	12,500	$	3,125	$	3,125	$	(0)	
Security Services	$	36,054	$	9,014	$	5,813	$	3,201	
Pool Maintenance	$	23,700	$	5,925	$	3,745	$	2,180	
Amenity Repairs & Maintenance	$	10,000	$	2,500	$	1,531	$	969	
Contingency	$	7,500	$	1,875	$	-	$	1,875	
Subtotal Amenity Expenditures	$	191,943	$	47,986	$	36,080	$	11,906	
					
Total Operations & Maintenance	$	547,889	$	149,503	$	104,419	$	45,084	
					
Total Expenditures	$	687,566	$	200,267	$	146,769	$	53,498	
					
Excess (Deficiency) of Revenues over Expenditures	$	75,000	$	455,759	$	509,257	$	(53,498)	

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	(75,000)	$	-	$	-	$	-	
Total Other Financing Sources/(Uses)	$	(75,000)	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	-		$	509,257		
					
Fund Balance - Beginning	$	-		$	185,831		
					
Fund Balance - Ending	$	-		$	695,088		

Revenues:		
Assessments - A1	$	442,500	$	380,677	$	380,677	$	-	
Assessments - A2	$	71,200	$	61,253	$	61,253	$	-	
Interest	$	5,700	$	4,868	$	4,868	$	-	
Total Revenues	$	519,400	$	446,798	$	446,798	$	-	

Expenditures:						
Series 2020 A1
Interest - 11/1	

$	140,316	

$	140,316	

$	140,316	

$	

-	
Principal - 5/1	$	160,000	$	-	$	-	$	-	
Interest - 5/1	$	140,316	$	-	$	-	$	-	
Series 2020 A2
Interest - 11/1	

$	22,878	

$	22,878	

$	22,878	

$	

-	
Principal - 5/1	$	25,000	$	-	$	-	$	-	
Interest - 5/1	$	22,878	$	-	$	-	$	-	
Total Expenditures	$	511,388	$	163,194	$	163,194	$	-	
						
Excess (Deficiency) of Revenues over Expenditures	$	8,013	$	283,604	$	283,604	$	-	
						
Fund Balance - Beginning	$	226,366		$	486,769			
						
Fund Balance - Ending	$	234,379		$	770,372			

Revenues:						
Assessments	$	434,150	$	373,494	$	373,494	$	-	
Interest	$	13,000	$	4,271	$	4,271	$	-	
Total Revenues	$	447,150	$	377,765	$	377,765	$	-	
Expenditures: Series 2022 Interest - 11/1	

$	161,281	

$	161,281	

$	161,281	

$	

-	
Principal - 5/1	$	110,000	$	-	$	-	$	-	
Interest - 5/1	$	161,281	$	-	$	-	$	-	
Total Expenditures	$	432,563	$	161,281	$	161,281	$	-	
						
Excess (Deficiency) of Revenues over Expenditures	$	14,588	$	216,483	$	216,483	$	-	
						
Fund Balance - Beginning	$	226,770		$	443,028			
						
Fund Balance - Ending	$	241,358		$	659,511			

Revenues
Interest	
$	
-	$	
-	$	-	
$	-	
Total Revenues	$	-	$	-	$	-	$	-	
Expenditures:

Miscellaneous	

$	

-	$	

-	$	114	

$	(114)	
Total Expenditures	$	-	$	-	$	114	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	(114)	$	-	
					
Fund Balance - Beginning	$	-	$	7,114		
					
Fund Balance - Ending	$	-	$	7,000		

Revenues					
Interest	$	-	$	-	$	5	$	5	
Total Revenues	$	-	$	-	$	5	$	5	

Expenditures:

Capital Outlay	

$	

-	$	

-	$	-	

$	-	
Total Expenditures	$	-	$	-	$	-	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	5	$	5	
					
Fund Balance - Beginning	$	-	$	414		
					
Fund Balance - Ending	$	-	$	418		

Cypress Park Estates
Community Development District Capital Reserve Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending December 31, 2024

	Adopted	Prorated Budget	Actual		
	Budget	Budget	Thru 09/30/24		Variance		

Revenues							
Interest Income	$	-	$	-	$	-	$		-	
Total Revenues	$	-	$	-	$	-	$		-	

Expenditures:							
Holiday Decorations	$	10,000	$	-	$	-	$		-	
Chair Lift Replacement	$	10,500	$	-	$	-	$		-	
Playground Shade	$	32,000	$	-	$	-	$		-	
Total Expenditures	$	52,500	$	-	$	-	$		-	
							
Excess (Deficiency) of Revenues over Expenditures	$	(52,500)	$	-	$	-	$		-	

Other Financing Sources/(Uses)							
Transfer In/(Out)	$	75,000	$	-	$	-	$		-	
Total Other Financing Sources/(Uses)	$	75,000	$	-	$	-	$		-	
							
Net Change in Fund Balance	$	22,500		$	-			
							
Fund Balance - Beginning	$	33,571		$	-			
							
Fund Balance - Ending	$	56,071		$	-			

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Revenues:

Assessments - On Roll	$	-	$	8,383	$	647,642	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	656,026	
Total Revenues	$	-	$	8,383	$	647,642	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	656,026	

Expenditures:					
General & Administrative:					
Supervisor Fees	$	-	$	800	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	800	
Engineer Fees	$	-	$	175	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	175	
Attorney Fees	$	244	$	1,943	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	2,187	
Annual Audit	$	-	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-	
Assessment Adminstration	$	5,565	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	5,565	
Dissemination	$	613	$	613	$	613	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	1,838	
Arbitrage	$	-	$	900	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	900	
Trustee Fees	$	4,034	$	-	$	6,734	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	10,769	
Management Fees	$	3,750	$	3,750	$	3,750	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	11,250	
Information Technology	$	158	$	158	$	158	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	473	
Website Maintenance	$	105	$	105	$	105	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	315	
Postage & Delivery	$	12	$	62	$	16	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	89	
Insurance	$	6,631	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	6,631	
Copies	$	-	$	-	$	56	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	56	
Legal Advertising	$	-	$	966	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	966	
Other Current Charges	$	41	$	41	$	76	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	158	
Office Supplies	$	0	$	1	$	3	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	4	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	175	
Total General & Administrative	$	21,327	$	9,512	$	11,510	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	42,349	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total

Operations & Maintenance

Field Expenditures Property Insurance Field Management Landscape Maintenance Landscape Replacement Street Tree Replacement Streetlights
Electric
Water & Sewer
Sidewalk & Asphalt Maintenance Irrigation Repairs
Fountain Maintenance
General Repairs & Maintenance Contingency

$	16,628  $
$	1,667  $
$	9,631  $
$	-  $
$	-  $
$	1,740  $
$	993  $
$	1,930  $
$	-  $
$	165  $
$	150  $
$	-  $
$	-  $

-  $
1,668  $
9,631  $
-  $
-  $
1,740  $
1,021  $
3,276  $
-  $
64  $
150  $
-  $
870  $

-  $	-  $
1,667  $	-  $
9,631  $	-  $
-  $	-  $
-  $	-  $
1,740  $	-  $
982  $	-  $
2,865  $	-  $
-  $	-  $
133  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	16,628
-  $	5,001
-  $	28,893
-  $	-
-  $	-
-  $	5,219
-  $	2,995
-  $	8,071
-  $	-
-  $	362
-  $	300
-  $	-
-  $	870

Subtotal Field Expenditures	$	32,904  $	18,419  $	17,017  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	68,339

Amenity Expenditures Amenity - Electric Amenity - Water Playground Lease Internet
Pest Control Janitorial Service Amenity Access Security Services Pool Maintenance
Amenity Repairs & Maintenance Contingency

$	1,555  $
$	1,043  $
$	3,097  $
$	100  $
$	280  $
$	995  $
$	1,042  $
$	2,565  $
$	1,900  $
$	1,531  $
$	-  $

1,607  $
1,502  $
3,097  $
100  $
40  $
975  $
1,042  $
-  $
1,650  $
-  $
-  $

1,466  $	-  $
1,777  $	-  $
3,097  $	-  $
100  $	-  $
40  $	-  $
995  $	-  $
1,042  $	-  $
3,248  $	-  $
195  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $
-  $	-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $
-  $	-  $

-  $	4,628
-  $	4,321
-  $	9,291
-  $	300
-  $	360
-  $	2,965
-  $	3,125
-  $	5,813
-  $	3,745
-  $	1,531
-  $	-

Other Financing Sources/Uses:

Transfer In/(Out)

$

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-  $

-

Net Change in Fund Balance	$	(68,339)  $	(29,561)  $	607,157  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	509,257

Total Other Financing Sources/Uses	$	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-

Excess (Deficiency) of Revenues over Expenditures	$	(68,339)  $	(29,561)  $	607,157  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	509,257

Total Expenditures	$	68,339  $	37,945  $	40,486  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	146,769

Total Operations & Maintenance	$	47,011  $	28,432  $	28,976  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	104,419

Subtotal Amenity Expenditures	$	14,108  $	10,013  $	11,959  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	-  $	36,080

Cypress Park Estate
Community Development District Long Term Debt Report

Series 2020-A1, Special Assessment Revenue Bonds		
Interest Rate:	2.625%, 3.250%, 3.875%, 4.000%		
Maturity Date:	5/1/2051		
Reserve Fund Definition	50% Maximum Annual Debt Service		
Reserve Fund Requirement	$221,250		
Reserve Fund Balance	$221,250		
Bonds Outstanding - 11/12/2020	$7,770,000	
Less: Principal Payment - 5/1/22	($150,000)	
Less: Principal Payment - 5/1/23	($155,000)	
Less: Principal Payment - 5/1/24	($155,000)	
Current Bonds Outstanding	$7,310,000	

Series 2020-A2, Special Assessment Revenue Bonds		
Interest Rate:	4.000%, 4.125%		
Maturity Date:	5/1/2051		
Reserve Fund Definition	Maximum Annual Debt Service		
Reserve Fund Requirement	$35,578		
Reserve Fund Balance	$35,578		
Bonds Outstanding - 11/12/2020	$1,185,000	
Less: Principal Payment - 5/1/22	($20,000)	
Less: Principal Payment - 5/1/23	($20,000)	
Less: Principal Payment - 5/1/24	($20,000)	
Current Bonds Outstanding	$1,125,000	

	Series 2022, Special Assessment Revenue Bonds		
Interest Rate:	4.375%, 4.750%, 5.000%, 5.125%		
Maturity Date:	5/1/2052		
Reserve Fund Definition	Maximum Annual Debt Service		
Reserve Fund Requirement	$216,663		
Reserve Fund Balance	$216,663		
Bonds Outstanding - 06/15/2022		$7,865,000	
Less: Principal Payment - 5/1/23		($120,000)	
Less: Special Call 11/1/23		($1,195,000)	
Less: Principal Payment - 5/1/24		($105,000)	
Current Bonds Outstanding		$6,445,000	

Cypress Park Estates
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts Fiscal Year 2025

ON ROLL ASSESSMENTS		
	Gross Assessments	$	819,965.14	$	475,807.86	$	76,559.58	$	466,829.35	$  1,839,161.93	
	Net Assessments	$	762,567.58	$	442,501.31	$	71,200.41	$	434,151.30	$  1,710,420.59	
		45%	26%	4%	25%	100%	

Date	Distribution	Gross Amount	Discount/Penalty	Commission	Interest	Net Receipts	General Fund	2020 AA1 Debt Service	2020 AA2 Debt Service	2022 Debt Service	Total	

11/12/24	
10/21/24	
$	933.60	
$	(49.01)	
$	(17.69)	
$	-	
$	866.90	
$	386.50	
$	224.27	
$	36.09	
$	220.04	
$	866.90	
11/12/24	10/21/24	$	1,075.85	$	(56.49)	$	(20.39)	$	-	$	998.97	$	445.38	$	258.44	$	41.58	$	253.57	$	998.97	
11/15/24	10/01-10/31/24	$	2,332.76	$	(93.32)	$	(44.79)	$	-	$	2,194.65	$	978.45	$	567.78	$	91.36	$	557.06	$	2,194.65	
11/15/24	10/01-10/31/24	$	2,795.71	$	(111.82)	$	(53.68)	$	-	$	2,630.21	$	1,172.64	$	680.46	$	109.49	$	667.62	$	2,630.21	
11/19/24	11/01-11/07/24	$	1,166.38	$	(46.65)	$	(22.39)	$	-	$	1,097.34	$	489.24	$	283.89	$	45.68	$	278.53	$	1,097.34	
11/19/24	11/01-11/07/24	$	1,344.09	$	(53.76)	$	(25.81)	$	-	$	1,264.52	$	563.77	$	327.14	$	52.64	$	320.97	$	1,264.52	
11/26/24	11/08-11/15/24	$	4,665.52	$	(186.63)	$	(89.58)	$	-	$	4,389.31	$	1,956.91	$	1,135.55	$	182.72	$	1,114.13	$	4,389.31	
11/26/24	11/08-11/15/24	$	5,698.94	$	(227.95)	$	(109.42)	$	-	$	5,361.57	$	2,390.38	$	1,387.09	$	223.19	$	1,360.91	$	5,361.57	
12/6/24	11/16-11/26/24	$  156,294.92	$	(6,252.37)	$  (3,000.85)	$	-	$	147,041.70	$	65,556.52	$	38,041.02	$	6,120.97	$	37,323.19	$	147,041.70	
12/6/24	11/16-11/26/24	$  198,065.21	$	(7,922.06)	$  (3,802.86)	$	-	$	186,340.29	$	83,077.26	$	48,207.92	$	7,756.87	$	47,298.24	$	186,340.29	
12/20/24	11/27-11/30/24	$  502,709.78	$  (20,109.27)	$  (9,652.01)	$	-	$	472,948.50	$	210,857.61	$	122,356.06	$	19,687.63	$	120,047.20	$	472,948.50	
12/20/24	11/27-11/30/24	$  612,958.81	$  (24,516.98)	$ (11,768.84)	$	-	$	576,672.99	$	257,101.75	$	149,190.53	$	24,005.41	$	146,375.30	$	576,672.99	
12/27/24	12/01-12/15/24	$	42,132.85	$	(1,638.01)	$	(809.90)	$	-	$	39,684.94	$	17,692.99	$	10,266.85	$	1,651.98	$	10,073.12	$	39,684.94	
12/27/24	12/01-12/15/24	$	31,803.40	$	(1,234.12)	$	(611.39)	$	-	$	29,957.89	$	13,356.31	$	7,750.38	$	1,247.07	$	7,604.13	$	29,957.89	

Total	$ 1,563,977.82  $  (62,498.44)  $  (30,029.60)  $	-	$	1,471,449.78  $	656,025.71  $	380,677.38  $	61,252.68  $	373,494.01  $  1,471,449.78

86.03%
$	238,970.81

Net Percent Collected Balance Remaining to Collect