North Powerline Road
Community Development District

Proposed Budget
FY2027

Table of Contents

1-2	General Fund	

3-8	

General Fund Narrative	

9	

Capital Reserve Fund	

10	

Series 2020 Debt Service Fund	

11	

Series 2020 Amortization Schedule	

12	

Series 2022 Debt Service Fund	

13	

Series 2022 Amortization Schedule	

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2026	2/28/26	7 Months	9/30/26	FY2027	

Revenues						
Assessments - Roll	$	898,933	$	877,225	$	21,708	$	898,933	$	898,933	
Assessments - Direct	$	64,728	$	32,363	$	32,365	$	64,728	$	-	
Boundary Amendment Contributions	$	-	$	-	$	43	$	43	$	-	
Interest	$	-	$	7,134	$	4,162	$	11,296	$	5,648	
Total Revenues	$	963,661	$	916,722	$	58,278	$	975,000	$	904,581	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	3,400	
$	7,000	
$	10,400	
$	12,000	
Employer FICA Expense	$	918	$	260	$	536	$	796	$	918	
Engineering	$	15,000	$	235	$	8,750	$	8,985	$	15,000	
Attorney	$	30,000	$	10,092	$	17,500	$	27,592	$	30,000	
Annual Audit	$	4,150	$	-	$	4,150	$	4,150	$	4,250	
Assessment Administration	$	8,755	$	8,755	$	-	$	8,755	$	9,193	
Arbitrage	$	1,350	$	450	$	450	$	900	$	900	
Dissemination	$	7,180	$	2,575	$	3,605	$	6,180	$	6,489	
Trustee Fees	$	13,335	$	6,022	$	7,314	$	13,335	$	13,335	
Management Fees	$	47,500	$	19,792	$	27,708	$	47,500	$	49,875	
Information Technology	$	2,044	$	852	$	1,192	$	2,044	$	2,146	
Website Maintenance	$	1,363	$	568	$	795	$	1,363	$	1,431	
Postage & Delivery	$	1,300	$	633	$	1,750	$	2,383	$	2,500	
Insurance	$	7,626	$	7,460	$	-	$	7,460	$	8,206	
Copies	$	500	$	94	$	292	$	385	$	500	
Legal Advertising	$	5,000	$	1,758	$	2,917	$	4,675	$	5,000	
Other Current Charges	$	1,250	$	247	$	350	$	597	$	625	
Boundary Amendment Expenses	$	-	$	43	$	-	$	43	$	-	
Office Supplies	$	250	$	14	$	35	$	49	$	250	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	159,696	$	63,422	$	84,343	$	147,765	$	162,793	

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2026	2/28/26	7 Months	9/30/26	FY2027	

Operations & Maintenance						
Field Expenditures						
Property Insurance	$	24,760	$	14,941	$	-	$	14,941	$	14,194	
Field Management	$	20,600	$	8,583	$	12,017	$	20,600	$	21,630	
Landscape Maintenance	$	185,000	$	61,109	$	93,324	$	154,433	$	164,784	
Landscape Replacement	$	30,000	$	3,500	$	17,500	$	21,000	$	30,000	
Lake Maintenance	$	18,313	$	4,775	$	6,685	$	11,460	$	22,500	
Midge Maintenance	$	-	$	-	$	-	$	-	$	6,120	
Fountain Maintenance	$	1,872	$	-	$	1,092	$	1,092	$	1,000	
Streetlights	$	165,000	$	63,977	$	91,000	$	154,977	$	165,000	
Electric	$	9,900	$	2,042	$	2,905	$	4,947	$	6,000	
Water & Sewer	$	2,640	$	-	$	-	$	-	$	150	
Sidewalk & Asphalt Maintenance	$	2,500	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	7,500	$	2,312	$	4,375	$	6,687	$	7,500	
General Repairs & Maintenance	$	20,000	$	4,505	$	15,495	$	20,000	$	20,000	
Hog Trap	$	5,000	$	-	$	5,000	$	5,000	$	6,280	
Contingency	$	7,500	$	14,208	$	-	$	14,208	$	7,500	
Subtotal Field Expenditures	$	500,585	$	179,952	$	251,892	$	431,844	$	475,158	

Amenity Expenditures						
Amenity - Electric	$	15,000	$	4,350	$	9,450	$	13,800	$	15,000	
Amenity - Water	$	4,400	$	2,094	$	2,940	$	5,034	$	6,000	
Playground Lease	$	65,266	$	27,194	$	38,072	$	65,266	$	65,266	
Pool Furniture Repair/Replacement	$	8,000	$	-	$	8,000	$	8,000	$	8,000	
Internet	$	1,625	$	717	$	1,001	$	1,718	$	1,900	
Pest Control	$	1,120	$	200	$	280	$	480	$	2,360	
Janitorial Services	$	14,060	$	5,040	$	7,350	$	12,390	$	30,390	
Security Services	$	25,000	$	1,464	$	14,583	$	16,047	$	25,000	
Pool Maintenance	$	33,960	$	14,070	$	19,810	$	33,880	$	34,920	
Amenity Management	$	15,450	$	6,438	$	9,013	$	15,450	$	16,223	
Amenity Repairs & Maintenance	$	12,500	$	4,177	$	8,323	$	12,500	$	12,500	
Holiday Decorations	$	15,500	$	15,300	$	-	$	15,300	$	17,700	
Contingency	$	7,500	$	-	$	7,500	$	7,500	$	13,275	
Subtotal Amenity Expenditures	$	219,381	$	81,044	$	126,322	$	207,366	$	248,533	
						
Total Operations & Maintenance	$	719,965	$	260,996	$	378,214	$	639,210	$	723,691	

Other Expenditures						
Capital Reserves	$	84,000	$	-	$	84,000	$	84,000	$	18,096	
Total Other Expenditures	$	84,000	$	-	$	84,000	$	84,000	$	18,096	
						
Total Expenditures	$	963,661	$	324,418	$	546,557	$	870,975	$	904,581	
						
Excess Revenues/(Expenditures)	$	-	$	592,304	$	(488,279)	$	104,025	$	-	

Product	

ERU's	
Assessable Units	

ERU/Unit	

Net Total	
FY2027 Net Per Unit	
FY2027 Gross Per Unit	
FY2026 Gross Per Unit	FY2027
Increase/ (Decrease)	
Phase 1	295.00	295	1.00	$275,947.14	$935.41	$1,005.82	$1,005.82	$0.00	
Phase 2	271.00	271	1.00	$253,497.20	$935.41	$1,005.82	$1,005.82	$0.00	
Phase 3	8.00	8	1.00	$7,483.31	$935.41	$1,005.82	$1,005.82	$0.00	
Phase 3 - Townhomes	225.00	300	0.75	$210,468.16	$701.56	$754.37	$754.37	$0.00	
Phase 4 - Single Family	162.00	162	1.00	$151,537.07	$935.41	$1,005.82	$1,005.82	$0.00	
	961.00	1036		$898,932.88					

Revenues:

Assessments

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

Boundary Amendment Contributions

Represents contributions received to fund costs associated with amendments to the District’s boundaries.

Interest

Represents interest earnings from funds held in the District’s operating accounts.

Expenditures:

General & Administrative:

Supervisor Fees

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

Employer FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor compensation.

Engineering

Represents general engineering services provided by Absolute Engineering, Inc., including but not limited to attendance and preparation for monthly Board meetings, review of invoices, and support for various projects as directed by the Board of Supervisors and the District Manager.

Attorney

Represents general legal services provided by Kilinski Van Wyk PPLC, including but not limited to attendance and preparation for meetings, and the preparation and review of agreements, resolutions, and other legal matters as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted DiBartolomeo, McBee, Hartley & Barnes, P.A.

Assessment Administration

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

Arbitrage

Represents the cost of contracting with American Municipal Tax-Exempt Compliance (AMTEC) to annually calculate the District’s arbitrage rebate liability on its Series 2020 Bonds and Series 2022 Bonds in accordance with federal requirements.

Dissemination

Represents costs associated with compliance with Securities and Exchange Commission (SEC) Rule 15c2-12(b)(5), including required reporting for the District’s Series 2020 and Series 2022 Bonds. These services are provided by Governmental Management Services – Central Florida, LLC.

Trustee Fees

The District will incur trustee costs related to the District’s outstanding bonds held with U.S. Bank.

Management Fees

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

Information Technology

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

Website Maintenance

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

Postage & Delivery

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

Insurance

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

Copies

Printing and binding agenda packages for board meetings, printing of computerized checks, stationery, envelopes, etc.

Legal Advertising

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

Other Current Charges

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

Office Supplies

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

Dues, Licenses & Subscriptions

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

Operations & Maintenance:

Field Expenditures

Property Insurance

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

Field Management

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

Landscape Maintenance

Represents costs associated with ongoing landscape maintenance within Phases 1–4 and the District’s amenity areas. These services are provided by Prince & Sons, Inc.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District. The District has contracted with Prince & Sons, Inc. to provide these services.

Lake Maintenance

Represents the cost of contracting with Tigris Aquatic Services that maintain the lakes located within the District.

Midge Maintenance

Represents estimated costs for midge control and treatment services provided by Aquatic Weed Management within the District.

Fountain Maintenance

Represents estimated costs associated with fountain maintenance services provided by Lake Pros within the District.

Streetlights

Represents the cost of street lighting services provided by Duke Energy within the District boundaries.

Electric

Represents the cost of electric utility services provided by Duke Energy for common areas within the District.

Water & Sewer

Represents the cost of water and sewer utility services provided by the City of Davenport for common areas within the District.

Sidewalk & Asphalt Maintenance

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

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells. The District has contracted with Prince & Sons, Inc. to provide these services.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas, including minor repairs and upkeep of District assets.

Hog Trap

Represents costs associated with hog trapping and prevention services provided by Swine Solutions within the District.

Contingency

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

Amenity Expenditures

Amenity - Electric

Represents the cost of electric utility services provided by Duke Energy for common areas within the District’s amenity facilities.

Amenity – Water

Represents the cost of water and sewer utility services provided by the City of Davenport for common areas within the District’s amenity facilities.

Playground Lease

Represents costs associated with a leasing agreement with Heidi Bonnet & WHFS LLC for playground equipment within the District.

Pool Furniture Repair/Replacement

Represents the costs incurred to repair or replace pool furniture for the District’s amenity facilities.

Internet

Represents internet service provided for the District’s amenity facilities from Frontier Internet.

Pest Control

Represents costs associated with pest control services for the District’s amenity facilities provided by Massey Services Inc.

Janitorial Services

Represents contracted costs by Clean Star Services of Central Florida to provide janitorial services and supplies for the District’s amenity facilities.

Security Services

Represents costs associated with security services for the District’s facilities, including routine patrols, monitoring, and general oversight to enhance safety and security.

Pool Maintenance

Represents costs associated with routine cleaning, chemical treatment, and maintenance of the District’s swimming pool provided by Resort Pool Services.

Amenity Management

Represents costs associated with amenity management services, including resident access control, keycard issuance and troubleshooting, monitoring of amenity facilities, enforcement of amenity policies, and communication with residents.

Amenity Repairs & Maintenance

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

Holiday Decorations

Represents costs associated with holiday decorations within the District’s common areas.

Contingency

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

Other Expenses:

Capital Reserves

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

North Powerline Road Community Development District Proposed Budget
Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2026	2/28/26	7 Months	9/30/26	FY2027	

Revenues						
Interest	$	2,973	$	3,229	$	2,511	$	5,740	$	2,870	
Carry Forward Surplus	$	220,909	$	232,488	$	-	$	232,488	$	321,228	
Total Revenues	$	223,882	$	235,717	$	2,511	$	238,228	$	324,098	

Expenditures						
Contingency	$	1,000	$	-	$	1,000	$	1,000	$	1,000	
Total Expenditures	$	1,000	$	-	$	1,000	$	1,000	$	1,000	

Other Financing Sources						
Transfer In/(Out)	$	84,000	$	-	$	84,000	$	84,000	$	18,096	
Total Other Sources/(Uses)	$	84,000	$	-	$	84,000	$	84,000	$	18,096	
						
Excess Revenues/(Expenditures)	$	306,882	$	235,717	$	85,511	$	321,228	$	341,194	

North Powerline Road Community Development District Proposed Budget
Series 2020 Debt Service Fund

Description	Adopted Budget FY2026	Actuals Thru 2/28/26	Projected Next
7 Months	Total Thru 9/30/26	Proposed Budget FY2027	

Revenues						
Assessments	$	712,525	$	695,318	$	17,206	$	712,525	$	712,525	
Interest	$	15,600	$	9,827	$	5,732	$	15,559	$	7,780	
Carry Forward Surplus	$	338,378	$	339,278	$	-	$	339,278	$	354,669	
Total Revenues	$  1,066,503	$  1,044,423	$	22,939	$  1,067,362	$  1,074,973	

Expenditures						
Interest Expense - 11/1	$	218,847	$	218,847	$	-	$	218,847	$	214,550	
Principal Expense - 5/1	$	275,000	$	-	$	275,000	$	275,000	$	285,000	
Interest Expense - 5/1	$	218,847	$	-	$	218,847	$	218,847	$	214,550	
Total Expenditures	$	712,694	$	218,847	$	493,847	$	712,694	$	714,100	
						
Net Change in Fund Balance	$	353,809	$	825,577	$	(470,908)	$	354,669	$	360,873	

Interest Expense 11/1/27	 $	210,097 
Total	$	210,097

Product	Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - Phase 1	295	$	357,687	$1,212	$1,304	
Single Family - Phase 2	271	$	354,838	$1,309	$1,408	
	566	$	712,525			

Series 2020 Special Assessment Bonds Amortization Schedule

Date		Balance		Principal		Interest		Total	
									
11/01/26	$	11,350,000.00	$	-	$	214,550.00	$	708,396.88	
05/01/27	$	11,350,000.00	$	285,000.00	$	214,550.00	$	-	
11/01/27	$	11,065,000.00	$	-	$	210,096.88	$	709,646.88	
05/01/28	$	11,065,000.00	$	295,000.00	$	210,096.88	$	-	
11/01/28	$	10,770,000.00	$	-	$	205,487.50	$	710,584.38	
05/01/29	$	10,770,000.00	$	305,000.00	$	205,487.50	$	-	
11/01/29	$	10,465,000.00	$	-	$	200,721.88	$	711,209.38	
05/01/30	$	10,465,000.00	$	315,000.00	$	200,721.88	$	-	
11/01/30	$	10,150,000.00	$	-	$	195,800.00	$	711,521.88	
05/01/31	$	10,150,000.00	$	325,000.00	$	195,800.00	$	-	
11/01/31	$	9,825,000.00	$	-	$	189,909.38	$	710,709.38	
05/01/32	$	9,825,000.00	$	335,000.00	$	189,909.38	$	-	
11/01/32	$	9,490,000.00	$	-	$	183,837.50	$	708,746.88	
05/01/33	$	9,490,000.00	$	350,000.00	$	183,837.50	$	-	
11/01/33	$	9,140,000.00	$	-	$	177,493.75	$	711,331.25	
05/01/34	$	9,140,000.00	$	360,000.00	$	177,493.75	$	-	
11/01/34	$	8,780,000.00	$	-	$	170,968.75	$	708,462.50	
05/01/35	$	8,780,000.00	$	375,000.00	$	170,968.75	$	-	
11/01/35	$	8,405,000.00	$	-	$	164,171.88	$	710,140.63	
05/01/36	$	8,405,000.00	$	390,000.00	$	164,171.88	$	-	
11/01/36	$	8,015,000.00	$	-	$	157,103.13	$	711,275.01	
05/01/37	$	8,015,000.00	$	405,000.00	$	157,103.13	$	-	
11/01/37	$	7,610,000.00	$	-	$	149,762.50	$	711,865.63	
05/01/38	$	7,610,000.00	$	415,000.00	$	149,762.50	$	-	
11/01/38	$	7,195,000.00	$	-	$	142,240.63	$	707,003.13	
05/01/39	$	7,195,000.00	$	435,000.00	$	142,240.63	$	-	
11/01/39	$	6,760,000.00	$	-	$	134,356.25	$	711,596.88	
05/01/40	$	6,760,000.00	$	450,000.00	$	134,356.25	$	-	
11/01/40	$	6,310,000.00	$	-	$	126,200.00	$	710,556.25	
05/01/41	$	6,310,000.00	$	465,000.00	$	126,200.00	$	-	
11/01/41	$	5,845,000.00	$	-	$	116,900.00	$	708,100.00	
05/01/42	$	5,845,000.00	$	485,000.00	$	116,900.00	$	-	
11/01/42	$	5,360,000.00	$	-	$	107,200.00	$	709,100.00	
05/01/43	$	5,360,000.00	$	505,000.00	$	107,200.00	$	-	
11/01/43	$	4,855,000.00	$	-	$	97,100.00	$	709,300.00	
05/01/44	$	4,855,000.00	$	525,000.00	$	97,100.00	$	-	
11/01/44	$	4,330,000.00	$	-	$	86,600.00	$	708,700.00	
05/01/45	$	4,330,000.00	$	545,000.00	$	86,600.00	$	-	
11/01/45	$	3,785,000.00	$	-	$	75,700.00	$	707,300.00	
05/01/46	$	3,785,000.00	$	570,000.00	$	75,700.00	$	-	
11/01/46	$	3,215,000.00	$	-	$	64,300.00	$	710,000.00	
05/01/47	$	3,215,000.00	$	595,000.00	$	64,300.00	$	-	
11/01/47	$	2,620,000.00	$	-	$	52,400.00	$	711,700.00	
05/01/48	$	2,620,000.00	$	615,000.00	$	52,400.00	$	-	
11/01/48	$	2,005,000.00	$	-	$	40,100.00	$	707,500.00	
05/01/49	$	2,005,000.00	$	640,000.00	$	40,100.00	$	-	
11/01/49	$	1,365,000.00	$	-	$	27,300.00	$	707,400.00	
05/01/50	$	1,365,000.00	$	670,000.00	$	27,300.00	$	-	
11/01/50	$	695,000.00	$	-	$	13,900.00	$	711,200.00	
05/01/51	$	695,000.00	$	695,000.00	$	13,900.00	$	708,900.00	
			$	12,155,000.00	$	7,942,481.34	$	20,581,631.34	

Proposed Budget
Series 2022 Debt Service Fund

Description	Adopted Budget FY2026	Actuals Thru 2/28/26	Projected Next
7 Months	Total Thru 9/30/26	Proposed Budget FY2027	

Revenues						
Assessments	$	533,100	$	520,226	$	12,874	$	533,100	$	533,100	
Interest	$	13,131	$	8,592	$	5,012	$	13,604	$	6,802	
Carry Forward Surplus	$	356,084	$	357,037	$	-	$	357,037	$	370,648	
Total Revenues	$	902,315	$	885,856	$	17,886	$	903,741	$	910,549	

Expenditures						
Interest Expense - 11/1	$	204,047	$	204,047	$	-	$	204,047	$	201,078	
Principal Expense - 5/1	$	125,000	$	-	$	125,000	$	125,000	$	130,000	
Interest Expense - 5/1	$	204,047	$	-	$	204,047	$	204,047	$	201,078	
Total Expenditures	$	533,094	$	204,047	$	329,047	$	533,094	$	532,156	
						
Net Change in Fund Balance	$	369,221	$	681,809	$	(311,161)	$	370,648	$	378,393	

Interest Expense - 11/1/27	 $	197,991 
Total	$	197,991

Product	Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Townhomes - Phase 3	284	$	241,400.40	$	850.00	$913.98	
Townhomes - Phase 3	16	$	13,600.02	$	850.00	$913.98	
Single Family - Phase 3	8	$	10,799.98	$	1,350.00	$1,451.61	
Single Family - Phase 4	162	$	267,299.47	$	1,650.00	$1,774.19	
	470	$	533,100			

North Powerline Road Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

Date		Balance		Principal		Interest		Total	
									
11/01/26	$	7,220,000.00	$	-	$	201,078.13	$	530,125.00	
05/01/27	$	7,220,000.00	$	130,000.00	$	201,078.13			
11/01/27	$	7,090,000.00	$	-	$	197,990.63	$	529,068.75	
05/01/28	$	7,090,000.00	$	135,000.00	$	197,990.63			
11/01/28	$	6,955,000.00	$	-	$	194,446.88	$	527,437.51	
05/01/29	$	6,955,000.00	$	145,000.00	$	194,446.88			
11/01/29	$	6,810,000.00	$	-	$	190,640.63	$	530,087.50	
05/01/30	$	6,810,000.00	$	150,000.00	$	190,640.63			
11/01/30	$	6,660,000.00	$	-	$	186,703.13	$	527,343.75	
05/01/31	$	6,660,000.00	$	160,000.00	$	186,703.13			
11/01/31	$	6,500,000.00	$	-	$	182,503.13	$	529,206.25	
05/01/32	$	6,500,000.00	$	165,000.00	$	182,503.13			
11/01/32	$	6,335,000.00	$	-	$	178,171.88	$	525,675.00	
05/01/33	$	6,335,000.00	$	175,000.00	$	178,171.88			
11/01/33	$	6,160,000.00	$	-	$	173,250.00	$	526,421.88	
05/01/34	$	6,160,000.00	$	185,000.00	$	173,250.00			
11/01/34	$	5,975,000.00	$	-	$	168,046.88	$	526,296.88	
05/01/35	$	5,975,000.00	$	200,000.00	$	168,046.88			
11/01/35	$	5,775,000.00	$	-	$	162,421.88	$	530,468.75	
05/01/36	$	5,775,000.00	$	210,000.00	$	162,421.88			
11/01/36	$	5,565,000.00	$	-	$	156,515.63	$	528,937.50	
05/01/37	$	5,565,000.00	$	220,000.00	$	156,515.63			
11/01/37	$	5,345,000.00	$	-	$	150,328.13	$	526,843.75	
05/01/38	$	5,345,000.00	$	235,000.00	$	150,328.13			
11/01/38	$	5,110,000.00	$	-	$	143,718.75	$	529,046.88	
05/01/39	$	5,110,000.00	$	245,000.00	$	143,718.75			
11/01/39	$	4,865,000.00	$	-	$	136,828.13	$	525,546.88	
05/01/40	$	4,865,000.00	$	260,000.00	$	136,828.13			
11/01/40	$	4,605,000.00	$	-	$	129,515.63	$	526,343.75	
05/01/41	$	4,605,000.00	$	275,000.00	$	129,515.63			
11/01/41	$	4,330,000.00	$	-	$	121,781.25	$	526,296.88	
05/01/42	$	4,330,000.00	$	295,000.00	$	121,781.25			
11/01/42	$	4,035,000.00	$	-	$	113,484.38	$	530,265.63	
05/01/43	$	4,035,000.00	$	310,000.00	$	113,484.38			
11/01/43	$	3,725,000.00	$	-	$	104,765.63	$	528,250.00	
05/01/44	$	3,725,000.00	$	325,000.00	$	104,765.63			
11/01/44	$	3,400,000.00	$	-	$	95,625.00	$	525,390.63	
05/01/45	$	3,400,000.00	$	345,000.00	$	95,625.00			
11/01/45	$	3,055,000.00	$	-	$	85,921.88	$	526,546.88	
05/01/46	$	3,055,000.00	$	365,000.00	$	85,921.88			
11/01/46	$	2,690,000.00	$	-	$	75,656.25	$	526,578.13	
05/01/47	$	2,690,000.00	$	385,000.00	$	75,656.25			
11/01/47	$	2,305,000.00	$	-	$	64,828.13	$	525,484.38	
05/01/48	$	2,305,000.00	$	410,000.00	$	64,828.13			
11/01/48	$	1,895,000.00	$	-	$	53,296.88	$	528,125.00	
05/01/49	$	1,895,000.00	$	435,000.00	$	53,296.88			
11/01/49	$	1,460,000.00	$	-	$	41,062.50	$	529,359.38	
05/01/50	$	1,460,000.00	$	460,000.00	$	41,062.50			
11/01/50	$	1,000,000.00	$	-	$	28,125.00	$	529,187.50	
05/01/51	$	1,000,000.00	$	485,000.00	$	28,125.00			
11/01/51	$	515,000.00	$	-	$	14,484.38	$	527,609.38	
05/01/52	$	515,000.00	$	515,000.00	$	14,484.38	$	529,484.38	
			$	7,460,000.00	$	7,524,031.26	$	14,984,031.26