DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT October 24, 2018 - Minutes of Meeting

Page 1

I	MINUTES OF MEETING
2

3	Each person who decides to appeal any decision made by the Board with respect to any matter considered at
4	the meeting is advised that the person may need to ensure that a verbatim record of the proceedings is made,
5	including the testimony and evidence upon which such appeal is to be based.

6

7	DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

8

9	The	regular	meeting	of  the	Board  of  Supervisors	of Del	Webb	Bexley	Community

IO	Development District was held on Wednesday, October 24, 2018 at 2:17 p.m. at the office of

11	Rizzetta & Company located at 5844 Old Pasco Road, Suite 100, Wesley Chapel, Florida 33544.

12

13	Present and constituting a quorum were:	
14		
15	Aaron Baker	
16	Jessica Robinson	
17	Doug South	
18	Brady Lefere	
19		

20	Also present were:

21		
22	Angel Montagna	
23	Alyssa Wilson	
24	Chris Fischer	
25	Scott Brizendine	
26	Brianne Parker	
27	Robbie Cox	
28	George Smith	
29	Bryan Radcliff	
30	Scott Steady	
3 I	Leah	
32		

Board Supervisor, Chairman Board Supervisor, Vice Chairman Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary

District Manager, Rizzetta & Company, Inc.

District Counsel, Hopping Green & Sams, P.A.

District Engineer, Clearview Land Design

Dir. of Financial Services, Rizzetta & Company Financial Associate, Rizzetta & Company, Inc.

Representative, MBS Capital Markets Representative, Bryant, Miller Olive District Manager, Rizzetta & Company, Inc. Counsel for Pulte Group

Representative, US Bank

33	FIRST ORDER OF BUSINESS	Call to Order

34

35	The meeting was called to order and roll call performed confirming that a quorum was

36	present.

37

38	SECOND ORDER OF BUSINESS	Audience Comments

39

40	There were no audience members present.

41

42	THIRD ORDER OF BUSINESS

43

44

45

Consideration of the Minutes of the Board of Supervisors' Continued Meeting held on September 12, 2018

46	Ms. Montagna presented the minutes of the Board of Supervisors' continued meeting held on

47	September 12, 2018. There were no changes.

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

October 24, 2018 - Minutes of Meeting
Page 2

48

49

On a Motion by Mr. Baker, seconded by Mr. Lefere, with all in favor, the Board of Supervisors approved the minutes of the Board of Supervisors' continued meeting held on September 12, 2018 as presented for Del Webb Bexley Community Development District.

50		
51FOURTH ORDER OF BUSINESS	Presentation  of the  Minutes  of the Audit	
52	Committee Meeting held on September 26,	
53	2018	
54		

55	Ms. Montagna presented the minutes of the Audit Committee meeting held on September 26,

56	2018.

57

On a Motion by Mr. Lefere, seconded by Mr. South, with all in favor, the Board of Supervisors accepted the minutes of the Audit Committee meeting held on September 26, 2018 as presented for Del Webb Bexley Community Development District.

58

59FIFTH ORDER OF BUSINESS	Consideration of the Minutes of the Board	
60	of Supervisors' Meeting held on September	
61	26,2018	
62		

63	Ms. Montagna presented the minutes of the Board of Supervisors' meeting held on September

64	26, 2018. There were no changes.

65

On a Motion by Mr. Lefere, seconded by Mr. South, with all in favor, the Board of Supervisors approved the minutes of the Board of Supervisors' meeting held on September 26, 2018 as presented for Del Webb Bexley Community Development District.

66						
67	SIXTH ORDER OF BUSINESS	Consideration	of	Operation	and	
68		Maintenance Expenditures for September	
69		2018				

70

71	Ms. Montagna presented the Operation and Maintenance Expenditures for September 2018.

72	There were no questions.

73

On a Motion by Mr. Baker, seconded by Mr. South, with all in favor, the Board of Supervisors ratified the Operation and Maintenance Expenditures for September 2018 ($9,326.57) for Del Webb Bexley Community Development District.

74			
75	SEVENTH ORDER OF BUSINESS	Ratification of Series 2018 Requisitions -	
76		Under $100K- None	
77			
78	Ms. Montagna presented Series 2018 Requisitions - Under$ IOOK- None	

79

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

October 24, 2018 - Minutes of Meeting
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REQUISITION NO.	PAYEE	AMOUNT

80

81	EIGHTH ORDER OF BUSINESS	Ratification  of Series  2018  Requisitions -

82	Over $100K- None

83

84	Ms. Montagna presented Series 2018 Requisitions - Over I OOK - None.

85

REQUISITION NO.	PAYEE	AMOUNT

86

87	NINTH ORDER OF BUSINESS	Ratification of Change Orders - None

88
89	Ms. Montagna stated that there were no change orders to present to the Board at this time.

90		
91TENTH ORDER OF BUSINESS	Consideration   of   Recommendation   of	
92	Audit Committee	
93		
94	Ms. Montagna stated that the Audit Committee met prior to the Board meeting and ranked

95	Grau  &  Associates  as  the  number  one  bidder.  She  asked  for  a  motion  to  accept  the  audit

96	committee's recommendation.

97

On a Motion by Mr. South, seconded by Mr. Baker, with all in favor, the Board of Supervisors accepted the Audit Conunittee's recommendation and authorized District staff to enter into contract with the number one ranked bidder, Grau & Associates for Del Webb Bexley Community Development District.

98			
99	ELEVENTH ORDER OF BUSINESS	Consideration  of  Addendum  to  District	
100		Services Contract	
IOI			
102	Ms. Montagna presented and reviewed the addendum to the District Services' contract.	
103			
	On a Motion by Mr. South, seconded by Mr. Lefere, with all in favor, the Board of Supervisors	
	approved the Addendum to  the  District Services'  contract for  Del  Webb Bexley Community	
	Development District.		
104			
105	TWELFTH ORDER OF BUSINESS	Consideration of Final District Engineer's	
106		Report	
107			
I 08	Mr. Schrader presented and reviewed his final report. Attached as (Exhibit "A"). He stated	

!09 there had been no changes since he presented his last report. It was stated that staff was working 11 O with Pulte to obtain right-of-way agreements.

11 I

112

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT October 24, 2018 - Minutes of Meeting
Page4

11 3

114	THIRTEENTH ORDER OF BUSINESS	Consideration   of   Final   Supplemental	
11 5		Assessment Allocation Report	
116			
I 17	Mr.  Brizendine  presented  and  reviewed  the  Final  Supplemental  Assessment  Allocation	

118	Repo11.

11	9

120	FOURTEENTH ORDER OF BUSINESS	Consideration   of   Resolution   2019-01,	
121		Supplemental Assessment Resolution	
122			
123	Ms.  Willson  presented  and  reviewed  Resolution  2019-01 ,  Supplemental  Assessment	

124	Resolution.

125	

On a Motion by Mr. Baker, seconded by Mr. Lefore, with all in favor, the Board of Supervisors approved Resolution 20 19-01 , Supple me ntal Assessme nt Resolution as presented for Del Webb Bexley Community Development District.

126				
127	FIFTEENTH ORDER OF BUSINESS	Staff Reports	
128				
129	A.	District Counsel		
130		No repo1t.		
131				

132	8.District Engineer

133		Not report.		
134				
135	C.	District Manager		
136		Ms. Montagna reminded the Board that the  next regular meeting  is scheduled for	
137		Novembe r 28, 2018 at 2:00 p.m.		
138				
139	SIXTEENTH ORDER OF BUSINESS	Supervisor Requests	
140				
141	Ms. Montagna asked if there were any Supervisor Requests. The re were none .	
142				
143	SEVENTEENTH ORDER OF BUSINESS	Adjournment	
144				
145	Ms. Montag na stated that if there was no furthe r bus iness to come before the Board than	

146	a motion to adjourn the mee ting would be in o rde r.

147	

148

149

150

On a Motion by Mr. Bake r, seconded by Mr. Lefore, w ith all in favor, the Board of Supervisors adjo urned the meeting at 2 :34 p.m. for Del Webb Bexley Community Development District.

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15 1	Secretary/ Assistant Secretary	C hairman/ Vice Chairman

Exhibit A

Del Webb Bexley

Community Development District

Final Supplemental

Special Assessment Allocation Report

Special Assessment Bonds, Series 2018

12750 Citrus Park Lane

Suite 115

Tampa, FL 33625

rizzetta.com

October 17, 2018

Professionals in Community Management

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS
SERIES 2018

T ABLE OF C ONTENTS

Page

I.	INTRODUCTION	... . .. ... . .. .. . ... .. . . .. .. . .. . ... ...	. ..	2

II.	DEFINED TERMS	2

Il l.	DISTRICT INFORMATION	.	.	3

IV.	CAPITAL IMPROVEMENT PLAN	. .. ..	.	..	3

V.	SERIES 2018 BONDS AND ASSESSMENTS	. .	3

VI.	SERIES 2018 ASSESSMENT ALLOCATION	..	..	4

VII.	PREPAYMENT OF SERIES 2018 ASSESSMENTS..	.	.	5

VIII.	ADDITIONAL STIPULATIONS	.	.. .	6

EXB "A"	ALLOCATION METHODOLOGY	. .. . . ..	.. ..	..	7

INDEX OF T ABLES

Table	Description	Page

1	CURRENT DEVELOPMENT PLAN	A-1

2	C IP COST DETAIL	.	.	A-2

3	FINANCING INFORMATION -  SERIES 2018 BONDS. ..	A-3

4	FINANCING INFORMATION-SERIES 2018 ASSESSMENTS	A-3

5	ASSESSMENT ALLOCATION -  SERIES 2018 A SSESSMENTS	A-4

6	CONTRIBUTION CALCULATION	.	..	A-5

S ERIES 2018 A SSESSMENT ROLL. ..	A-6

':.

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DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS SERIES 2018

I.	INTRODUCTION

This Final Supplemental Special Assessment Allocation Report is being presented in anticipation of financing a capital infrastructure project by the Del Webb Bexley Community Development District, a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes. The District plans to issue Special Assessment Bonds, Series 2018 and has retained Rizzetta & Company, Inc. to prepa re a methodology for allocating the special assessments to be levied by the District in connection with the transaction.

II.	DEFINED TERMS

"Capital Improvem ent Plan" - (or "CIP") Construction and/or acquisition of public infrastructure planned for the District. Th~ total cost for the Capital Improvement Plan is estimated to be $29, 162,850~ s specified in the Engineer's Report dated February 2018.

"Developer" - Pulte Home Company, LLC.

"Distri ct" -	Del Webb Bexley Community Development District.

"End User" - The ultimate purchaser of a fully developed residential unit; typically, a resident homeowner.

"Equivalent Assessment Unit" - (or "EAU") Allocation factor which reflects a quantitative measure of the amount of special benefit conferred by the District's CIP on a particular land use, relative to other land uses.

"Indentures" - The Master Trust Indenture dated as of October 1, 2018 and the First Supplemental Tru st Indenture dated as of October 1, 2018

"Master Landowner" - NNP-Bexley, LLC.

"Master Report" - The Master Special Assessment Allocation Report originally dated February 28, 2018, as amended and restated on September 12, 2018.

"Platted Units" - Residential lots configured into their intended end-use and subject to a recorded plat.

"Series 2018 Assessments" - Special assessments as contemplated by Chapters 190, 170, and 197, Florida Statutes, levied to secure repayment of the District's Series 2018 Bonds.

"Series 2018 Bonds" - $10,180,000 Del Webb Bexley Community Development District Special Assessment Bonds, Series 2018 .

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"True-Up Agreeme nts" - Together, the Agreement to be executed between the Del Webb Bexley Community Development District and the Developer and the Agreement to be executed between the Del Webb Community Development District and the Master Landowner, regarding the True-Up and Payment of Series 20 18 Assessments.

"Unplatted Parcels" - Undeveloped lands or parcels not yet subject to a recorded plat in their final end-use configuration.

All capitalized terms not defined herein shall retain the meaning ascribed in the Master Report.

Ill. DISTRICT INFORMATION

Del Webb Bexley Community Development District was established on October 24, 2017, pursuant to Pasco County Ordinance No. 17-27. On April 25, 2018, the District approved the Master Report, which specifies the allocation methodology to be used for the District'sbond assessments. This report will follow the methodology described in the Master Report for purposes of allocating the Series 2018 Assessments securing the District'sSeries 2018 Bonds.

The District currently encompasses approximately 429 acres and is expected to ultimately include 850 platted single-family residential units. This is expected to be the District'sonly bond issuance and will encumber all units within the District.

Table 1 illustrates the District'scurrent development plan.

IV. CAPITAL IMPROVEMENT PLAN

The District'sCapital Improvement Plan is estimated to cost a total of $29,162,850 and is expected to be partially funded by Series 2018 Bonds. The portion of the CIP to be funded with Series 2018 Bonds is $8,623,818.75, with the balance of the Capital Improvement Plan funded by the Developer or other funding sources . For more detailed information regarding the Capital Improvement Plan, see Table 2 and the Engineer'sReport dated February 2018.

V. S ERIES 2018 BONDS AND ASSESSMENTS

In order to provide for the CIP funding described in Section IV above, the District plans to issue Series 2018 Bonds, which will be secured by the pledged revenues from Series 2018 Assessments. The Series 2018 Assessments will initially be levied in the principal amount of $10,180,000 and shall be structured in the same manner as the Series 2018 Bonds, so that revenues from the Series 2018 Assessments are sufficient to fulfill the debt service requirements for the Series 2018 Bonds.

The Series 2018 Bonds will be structured as amortizing current-interest bonds, with repayment occurring in substantially equal annual installments of principal and interest.

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DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS SERIES 2018

Interest payment dates shall occur every May 1 and November 1 from the date of issuance until final maturity on May 1, 2049. The first scheduled payment of coupon interest will be due on May 1, 2019, although interest will be capitalized through May 1, 2020, with the first installment of principal due on May 1, 2021. The annual principal payment will be due each May 1 thereafter until final maturity, with the maximum annual debt service at $692,507.50. The general financing terms of the Series 2018 Bonds are summarized on Table 3.

It is expected that the Series 2018 Assessment installments assigned to Platted Units will be collected via the Pasco County property tax bill process (Uniform Method) 1 . Accordingly, the Series 2018 Assessments have been adjusted to allow for current county collection costs and the possibility that landowners will avail themselves of early payment discounts. Currently, the aggregate rate for costs and discounts is 6.0%, but this may fluctuate as provided by law.

VI. SERIES 2018 A SSESSMENT ALLOCATION

The District'sMaster Report contains specific special benefit findings relative to the Maximum Assessments and the District'sCIP. As stated therein, the CIP cost per unit and Maximum Assessments were allocated pursuant to an EAU-based methodology.

Per Section IV above, the Series 2018 Bonds will fund a portion of the District'sCIP, which is expected to be constructed in a manner generally proportionate to the construction of improvements for the total CIP. Accordingly, it is expected that the improvements funded by the Series 2018 Bonds will confer benefit on the District'sdevelopable parcels in a manner generally proportionate to and consistent with the allocation of benefit found in the Master Report. Therefore, it is proper to impose Series 2018 Assessments on the units specified in Table 5, as well as the District'sSeries 2018 Assessment Roll.

A.	Assessment Allocation

The Series 2018 Assessments are expected to ultimately be allocated to the units shown on Table 5 using target annual assessments provided by the Developer. As allocated, the Series 2018 Assessments fall within the cost/benefit thresholds, as well as the Maximum Assessment levels, established by the Master Report. The District will recognize in-kind contributions of infrastructure by the Developer in the amount of $1 ,365,819.25 as an assessment credit to the product types specified in Table 6, in order to reach target assessment levels. See Table 6 for the contribution calculation.

The Series 2018 Assessment Roll is located on page A-6.

I	The ultimate collection procedure is subject to District approval. Nothing he rein should be construed as ma nda ting collectio ns th at conflict with the te rms. privileges, and remedies provided in the Inde nture, Florida law, assessme nt resolutions, a nd/or other applicable

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DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS SERIES 2018

B.	Assignment of Assessments

The Series 2018 Bonds and Series 2018 Assessments have been sized based on the expectation that the Series 2018 Assessments will be fully absorbed by the 850 planned Platted Units shown on Table 5. However, the Series 2018 Assessments securing the Series 20 18 Bonds will initially be levied over all the Unplatted Parcels and will be assigned on a first-platted, first-assessed basis.

Since the lands subject to the Series 2018 Assessments currently consist of Unplatted Parcels, assessments will be initially levied on these parcels on an equal assessment per-acre basis. At the time parcels are platted or otherwise subdivided into Platted Units, individual Series 2018 Assessments will be assigned to those Platted Units at the per-unit amounts described in Table 5, thereby reducing the Series 201 8 Assessments encumbering the Unplatted Parcels by a corresponding amount. Any unassigned amount of Series 2018 Assessments encumbering the remaining Unplatted Parcels will continue to be calculated and levied on an equal assessment per-acre basis.

In the event an Unplatted Parcel is sold to a third party not affiliated with the Developer and/or Master Landowner, Series 2018 Assessments will be assigned to that Unplatted Parcel based on the maximum total number of Platted Units assigned by the Developer to that Unplatted Parcel. The owner of that Unplatted Parcel will be responsible for the total assessments applicable to the Unplatted Parcel, regardless of the total number of Platted Units ultimately actually platted. These total assessments are fixed to the Unplatted Parcel at the time of the sale. If the Unplatted Parcel is subsequently sub-divided into smaller parcels, the total assessments initially allocated to the Unplatted Parcel will be re-allocated to the smaller parcels pursuant to the methodology as described herein (i.e. , equal assessment per acre until platting).

In the event that developable lands that derive benefit from the CIP are added to the District boundaries, whether by boundary amendment or increase in density, Series 2018 Assessments will be allocated to such lands, pursuant to the methodology described herein.

VII. PREPAYMENT AND TRUE-UP OF SERI ES 201 8 ASSESSMENTS

The Series 2018 Assessments encumbering a parcel may be prepaid in full at any time, without penalty, together with interest at the rate on the corresponding Series 2018 Bonds to the bond interest payment date that is more than forty-five (45) days next succeeding the date of prepayment. Notwithstanding the preceding provisions, the District does not waive the right to assess penalties which would otherwise be permissible if the parcel being prepaid is subject to an assessment delinquency.

Because this methodology assigns defined, fixed assessments to Platted Units, the District'sSeries 2018 Assessment program is predicated on the development of units in the manner described in Table 1. However, if a change in development results in the net decrease in the overall principal amount of assessments able to be assigned to the lands described in Table 5, then a true-up, or principal reduction payment, will be required to

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DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS SERIES 2018

cure the deficiency. At such time as lands are to be platted, the plat (herein, "Proposed Plat") shall be presented to the District for review pursuant to the terms herein. The District shall perform a review of the development plan for true-up calculation purposes upon the presentation of a Proposed Plat that includes the lesser of (i) at least 50% of the acres within the District, or (ii) at least 50% of the planned units for the District. Such review shall be limited solely to the function and the enforcement of the District's assessment liens and/or true-up agreements. Nothing herein shall in any way operate to or be construed as providing any other plat approval or disapproval powers to the District. If such Proposed Plat is consistent with the development plan as identified in Table 1, the District sha ll allocate the Series 2018 Assessments to the product types being platted and the remaining property in accordance with this Assessment Report and cause the Assessments to be recorded in the District'sImprovement Lien Book. Once the Series 2018 Assessments are fully absorbed by platted units, any remaining platted units and/or lands may be subject to future debt assessments, or the Assessments may be reallocated. However, if a change in development as reflected in a Proposed Plat results in a net decrease in the overall principal amount of Series 2018 Assessments able to be assigned to the planned units described in this report, as determined by comparing the debt per acre amounts on the remaining unplatted lands before and after presentation of the Proposed Plat, then the District shall, subject to the provisions below, require the Developer and/or the Master Landowner of the lands encompassed by the Proposed Plat to pay a "True-Up Payment" equal to the shortfall in Series 2018 Assessments resulting from the reduction of planned units shall become due and payable prior to the District's approval of the plat, in addition to the regular assessment installment payable for lands owned by the Developer and/or the Master Landowner for that tax year. A change in development may also result in the need for an additional contribution of infrastructure, in order to maintain target assessment levels (if applicable). For more information on the true-process, please see the True-Up Agreements.

Similarly, if a reconfiguration of lands would result in the collection of substantial excess assessment revenue in the aggregate, then the District shall undertake a pro rata reduction of assessments for all assessed properties.

VIII. ADDITIONAL STIPULATIONS

Certain financing, development and engineering data was provided by members of District staff, including th e District Underwriter, District Engineer, Master Landowner and the Developer. The allocation methodology described herein was based on information provided by those professionals. Rizzetta & Company, Inc. makes no representations regarding said information transactions beyond restatement of the factual information necessary for compilation of this report.

Rizzetta & Company, Inc. does not represent the Del Webb Bexley Community Development District as a Municipal Advisor or Securities Broker nor is Rizzetta & Company, Inc. , registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, Rizzetta & Company, Inc., does not provide the Del Webb Bexley Community Development District with financial advisory services or offer investment advice in any form.

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DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS

SERIES 2018

EXHIBIT A:

ALLOCATION METHODOLOGY

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DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS, SERIES 2018

	TABLE 1:  CURRENT DEVELOPMENT PLAN				
PRODUCT	EAU	Phase 1	Phase 2	Phase 3	Phase 4	TOTAL	
Single Family 40'	0.93	54	41	58	49	202	Units	
Single Family 50'	1.00	11 3	107	102	138	460	Units	
Single Family 65'	1.11	52	58	49	29	188	Units	
TOTAL:		219	206	209	216	850	✓	

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DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS, SERIES 2018

TABLE 2:	TOTAL CIP COST DETAIL

			TOTAL	
	Sunlake	District	ESTIMATED	
DESCRIPTION	Blvd/Tower Rd.	Improvements	COST	
Stormwater, Drainage and Earthwork (exc. lots)	$2,160,000	$7,700,000	$9,860,000	
Roadways and Paving	$1 ,800,000		$1,800,000	
WaterNvaste Water/Reclaimed Water	$540,000	$6,500,000	$7,040,000	
Landscape, Hardscape & CDD Recreational Facilities		$2,500,000	$2,500,000	
Power and Street Lights	$500,000	$1,500,000	$2,000,000	
Wetland Mitigation	$500,000		$500,000	
Subtotal	$5,500,000	$18,200,000	$23,700,000	
Professional Services (7%)	$385,000	$1,274,000	$1,659,000	
Contingency (1 5%)	$882,750	$2,921 ,100	$3,803,850	
Total CIP Construction Costs	$6,767,750	$22,395,100	$29,162,850	
CIP Costs Funded by Series 2018 Bonds			$8,623,819	
Recognized Contribution of Infrastructure To Reach Target Assessment Levels		$1,365,819	
Additional Construction Costs Funded by the Developer or Other Sources		$19,173,212 _/'	
Total Construction Costs			$29,162,850 ✓	

NOTE:  Infrastructure cost estimates provided by District Engineer.

A-2

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DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS, SERIES 2018

TABLE 3: FINANCING INFORMATION - SERIES 2018 BONDS

Issue Date	10/26/2018	
Final Maturity	5/1/2049	
Principal Installments	29	
Average Coupon Rate	5.334%	
Maximum Annual Debt Service ("MADS")	$692,507.50	
SOURCES:		
PARAMOUNT	$10,180,000.00	
Total Net Proceeds	$10,180,000.00	
USES:		
Project Fund	($8,623,818.75)	
Debt Service Reserve Fund	($346,253.75) (1)	
Capitalized Interest (through 5/1/2020)	($806,327.50)	
Costs of Issuance	($200,000.00)	
Underwriter's Discount	($203,600.00)	
Total Uses	($10,180,000.00)	

(1) 50% of MADS

Source: District Underwriter.

TABLE 4: FINANCING INFORMATION - SERIES 2018 ASSESSMENTS

Est. Interest Rate		5.334%		
First Installment		FY 2019/2020		
Final Installment		FY 2048/2049		
Initial Principal Amount		$10,180,000		
Aggregate Annual Installment		$692,800	(1)	
Estimated County Collection Costs	2.00%	$14,139	(2)	
Maximum Early Payment Discounts	4.00%	$29,456	(2)	
Total Annual Installment		$736,395	. /	

(1 ) Based on target annual installments.

(2) May vary as provided by law.

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DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS, SERIES 201 8

TABLE 5: ASSESSMENT ALLOCATION - SERIES 2018 ASSESSMENTS (1)

		PRODUCT		PRODUCT			
		TOTAL	PER UNIT	ANNUAL	PER UNIT		
PRODUCT	UNITS (2)	PRINCIPAL (3)	PRINCIPAL	INSTLMT. (3)(4)	IN STLMT. (4)		
Single Family 40'	202	$1,899,640	$9,404	$137,415	$680		
Single Family 50'	460	$5,407,390	$1 1,755	$391,156	$850		
Single Family 65'	188	$2,872,970	$15,282	$207,823	$1 ,105		
TOTAL	850	$10,1 80,000		$736,395	~,1lf~		

(1)	Allocation of Series 2018 Assessments based on target assessment levels. There will be a recognized in-kind contribution of infrastructure by the Developer as an assessment credit to certain unit types in order to reach target assessment levels. See Table 6 for the contribution calculation.

(2)	Series 2018 Assessments will be allocated on a first-platted first-assessed basis, and are expected to be absorbed by the 850 platted units shown here.

(3)	Product total shown for illustrative purposes only and are not fixed per product type.

(4)	lndudes estimated Pasco County collection costs/payment discounts, which may fluctuate.

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DEL WEBB BEXLEY

COMMUNITY DEVELOPMENT DISTRICT

SPECIAL ASSESSMENT BONDS, SERIES 2018

TABLE 6: CONTRIBUTION CALC ULATION (1 )

TOTAL COSTS	TARGET COSTS	COSTS PER UNIT	CONTRIBUTION	TOTAL

PRODUCT	UNITS	EAU	FUNDED	PER UNIT {3)	BY EAU	PER UNIT	CONTRIBUTION (4)
Single Family 40'	202	0.93	$1 ,609,248 .39	$7,966.58	$10	,846.39	$2,879 .81	$581 ,721.55	
Single Family 50'	460	1.00	$4,580,781.32	$9,958.22	$11 ,662.78	$1 ,704.56	$784,097.70	
Single Family 65'	188	1.11	$2,433,789.03	$12,945.69	$12 ,945.69	$0.00	$0.00	
	850		$8,623,818.75	(2)				$1,365,819.25	

(1)	All numbers are based on construction costs and thus are net of financing costs.

(2)	Total CIP costs to be funded with Series 2018 Bonds. See Table 2.

(3)	Per unit costs funded with Series 2018 Bonds.
(4)	Total contribution of infrastructure due to the difference between the target and the EAU allocation. See Table 2 for the application of the contribution.

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Rizzetta & Company

Professionals In Comm unity Management

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT

		SERIES 2018 ASSESSMENT LIEN ROLL		
				SERIES 2018	SERIES 2018	
PARCEL ID NO.	OWNER	ACREAGE	PRINCIPAL	ANNUAL INSTALLMENT (1)	
*See attached le	al descri lion #1	NNP-Bexle , LLC	296.231	$7,030,526	$508,570	
*See attached le	al descri lion #2	Pulte Home Com  an , LLC	132.703	$3,149,474	$227,825	
		Total:	428.934	$10,180,000	$736,395	

	~		
	~ Rizzetta & Company	
A-6	~	Professionals fl Community M'\f\39CO'IClll.	

Legal Description #1

DESCRIPTION: A parcel of land lying in Sections 9, 10, 15 and 16, Township 26 South, Range 18 East, Pasco County, Florida, and being more particularly described as follows:

COMMENCE at the Southwest corner of said Section 15, run thence along the West boundary of said Section 15, N.00°17'40"E., 2702.53feet; thence S.89°42'20"E.,183.00 feet to the POINT OF BEGINNING; thence N.00°17'40"E.,124.23 feet to a point of curvature; thence Northerly, 1306.64 feet along the arc of a curve to the left having a radius of 2183.00 feet and a central angle of 34°17'40"(chord bearing N.16°51 '10"W.,1287.22 feet) to a point of tangency; thence N.34°00'00"W.,316.72 feet to a point of curvature; thence Northwesterly, 492.85 feet along the arc of a curve to the right having a radius of 2017.00 feet and a central angle of 14°00'00" (chord bearing N.27°00'00"W.491,.62 feet) to a point of tangency; thence N.20°00'00"W.,

316.72 feet to a point of curvature; thence Northwesterly, 1800.25 feet along the arc of a curve to the left having a radius of 2183.00 feet and a central angle of 47°15'00"(chord bearing N.43°37'30"W.,1749.67 feet); thence N.22°45'00"E.,42.00 feet; thence N.02°00'00'W1730.,.04 feet; thence N.10°45'00"W.,752.72 feet to a point on a curve; thence Northeasterly, 1106.69 feet along the arc of a curve to the left having a radius of 1371.00 feet and a central angle of 46°15'00"(chord bearing N.56°07'30"E.,1076.89 feet) to a point of tangency; thence N.33°00'00"E.,298.39 feet to a point of curvature; thence Northeasterly, 448.93 feet along the arc of a curve to the right having a radius of 1429.00 feet and a central angle of 18°00'00" (chord bearing N.42°00'00"E.447,.09 feet) to a point of tangency; thence N.51 °00'00"E.,109.14 feet to a point of curvature; thence Easterly, 39.27 feet along the arc of a curve to the right having a radius of 25.00 feet and a central angle of 90°00'00"(chord bearing S.84°00'00"E., 35.36 feet) to a point of tangency; thence S.39°00'00"E.,28.69 feet to a point of curvature; thence Southeasterly, 546.26 feet along the arc of a curve to the right having a radius of

1429.00 feet and a central angle of 21 °54'08"(chord bearing S.28°02'56"E.,542.94 feet) to a point of reverse curvature; thence Southeasterly, 1505.37 feet along the arc of a curve to the left having a radius of 1571.00 feet and a central angle of 54°54'08"(chord bearing S.44°32'56"E., 1448.43 feet) to a point of tangency; thence S.72°00'00"E.,275.00 feet to a point of curvature; thence Southeasterly, 1122.22 feet along the arc of a curve to the right having a radius of

1429.00 feet and a central angle of 44°59'43"(chord bearing S.49°30'08"E.,1093.60 feet) to a point of reverse curvature; thence Southeasterly, 740.19 feet along the arc of a curve to the left having a radius of 1571.00 feet and a central angle of 26°59'43"(chord bearing S.40°30'08"E., 733.36 feet) to a point of reverse curvature; thence Southeasterly, 1361.32 feet along the arc of a curve to the right having a radius of 1429.00 feet and a central angle of 54°34'55"(chord bearing S.26°42'32"E.,1310.42 feet) to a point of tangency; thence S.00°34'55"W.,554.00 feet to a point of curvature; thence Southwesterly, 39.27 feet along the arc of a curve to the right having a radius of 25.00 feet and a central angle of 90°00'00"(chord bearing S.45°34'55'W., 35.36 feet) to a point of tangency; thence N.89°25'05"W.,174.00 feet to a point of curvature; thence Southwesterly, 1319.35 feet along the arc of a curve to the left having a radius of

1071.00 feet and a central angle of 70°34'55"(chord bearing S.55°17'28"W.,1237.50 feet) to a point of tangency; thence S.20°00'00'W1257.,.25 feet to a point of curvature; thence Southwesterly, 1257.28 feet along the arc of a curve to the right having a radius of 1429.00 feet and a central angle of 50°24'39"(chord bearing S.45°12'19"W.,1217.12 feet) to a point of tangency; thence S.70°24'39"W.,93.58 feet to a point of curvature; thence Northwesterly, 67.12 feet along the arc of a curve to the right having a radius of 35.00 feet and a central angle of 109°53'01"(chord bearing N.54°38'51"W.,57.30 feet) to the POINT OF BEGINNING.

Containing 428.934 acres, more or less.

LESS AND EXCEPT:

A parcel of land lying in Sections 9, 10, 15 and 16, Township 26 South, Range 18 East, Pasco County, Florida, and being more particularly described as follows:

COMMENCE at the Southwest corner of said Section 15, run thence along the West boundary of said Section 15, N.00°17'40"E.,2702.53 feet; thence S.89°42'20"E.,183.00 feet to the POINT OF BEGINNING; thence N.00°17'40"E.,a distance of 124.23 feet; thence Northerly, 1306.64 feet along the arc of a tangent curve to the left having a radius of 2183.00 feet and a central angle of 34°17'40"(chord bearing N.16°51 '1O'W., 1287.22 feet); thence N.34°00'00"W., a distance of 316.72 feet; thence Northwesterly, 492.85 feet along the arc of a tangent curve to the right having a radius of 2017.00 feet and a central angle of 14°00'00"(chord bearing N.27°00'00"W., 491.62 feet); thence N.20°00'00'W.a, distance of 316.72 feet; thence Northwesterly, 1507.93 feet along the arc of a tangent curve to the left having a radius of 2183.00 feet and a central angle of 39°34'40"(chord bearing N.39°47'20"W.,1478.13 feet); thence N.30°25'20"E.,a distance of 41.56 feet; thence S.88°14'07"E.,a distance of 55.73 feet; thence N.74°09'53"E.,a distance of 55.73 feet; thence N.61°58'16"E.,a distance of 20.82 feet; thence N.65°07'00"E.,a distance of 407.50 feet; thence N.70°07'11"E.,a distance of 53.29 feet; thence N.89°00'00"E.,a distance of 52.16 feet; thence S.72°45'00"E.,a distance of 45.53 feet; thence S.55°45'00"E.,a distance of 45.53 feet; thence S.38°45'00"E.,a distance of 45.53 feet; thence S.21 °45'00"E.,a distance of 45.53 feet; thence S.04°45'00"E.,a distance of 45.53 feet; thence S.08°14'46"W.,a distance of 49.10 feet; thence S.09°00'00'Wa., distance of 100.00 feet; thence S.81 °00'00"E.,a distance of 121.00 feet; thence N.09°00'00"E.,a distance of 46.47 feet; thence S.81 °00'00"E.,a distance of 187.26 feet; thence N.57°45'00"E., a distance of 575.76 feet; thence Southeasterly, 421.00 feet along the arc of a non-tangent curve to the left having a radius of 540.00 feet and a central angle of 44°40'12"(chord bearing S.55°12'33"E., 410.42 feet); thence N.12°27'21"E.,a distance of 80.00 feet; thence Easterly, 550.91 feet along the arc of a non-tangent curve to the right having a radius of 2040.00 feet and a central angle of 15°28'23"(chord bearing S.69°48'28"E., 549.24 feet); thence S.27°55'44'W.a, distance of 80.00 feet; thence Southeasterly, 60.27 feet along the arc of a non-tangent curve to the right having a radius of 1960.00 feet and a central angle of 01°45'43"(chord bearing S.61°11'25"E., 60.27 feet); thence S.33°56'00"W.,a distance of 70.63 feet; thence S.61 °58'32"W.,a distance of 56.65 feet; thence S.43°26'00"W.,a distance of 50.70 feet; thence S.33°56'00"W.,a distance of

52.74 feet; thence S.19°32'00"W.,a distance of 50.60 feet; thence S.01°56'00"W.,a distance of

55.73 feet; thence S.15°40'00"E.,a distance of 55.73 feet; thence S.33°16'00"E.,a distance of

64.16 feet; thence S.56°04'00"E.,a distance of 72.59 feet; thence S.78°52'00"E.,a distance of

64.16 feet; thence N.83°32'00"E.,a distance of 55.73 feet; thence N.65°56'00"E.,a distance of

55.73 feet; thence N.48°20'00"E.,a distance of 50.60 feet; thence N.33°56'00"E.,a distance of
52.74 feet; thence N.24°26'00"E.,a distance of 50.70 feet; thence S.53°36'05"E.,a distance of

20.29 feet; thence S.59°23'00"E.,a distance of 57.98 feet; thence S.63°45'00"E.,a distance of

57.98 feet; thence S.68°07'00"E.,a distance of 57.98 feet; thence S.27°21'56"E.,a distance of

36.15 feet; thence S.08°12'45"W.,a distance of 50.01 feet; thence S.02°35'00"W.,a distance of

65.97 feet; thence S.06°18'26"E.,a distance of 75.98 feet; thence S.18°07'34"E.,a distance of

75.98 feet; thence S.27°01 '00"E.,a distance of 65.97 feet; thence S.35°59'00"E.,a distance of
65.97 feet; thence S.44°57'00"E.,a distance of 65.97 feet; thence S.53°55'00"E.,a distance of

65.97 feet; thence S.62°53'00"E.,a distance of 65.97 feet; thence S.71°51'00"E.,a distance of

65.97 feet; thence S.80°49'00"E.,a distance of 65.97 feet; thence N.89°26'27"E.,a distance of

77.33 feet; thence N.78°55'33"E.,a distance of 77.33 feet; thence N.69°11 '00"E.,a distance of

65.97 feet; thence S.49°49'19"E.,a distance of 73.06 feet; thence Southwesterly, 377.18 feet along the arc of a non-tangent curve to the left having a radius of 1071.00 feet and a central

angle of 20°10'41" (chord bearing S.30°05'21"W., 375.23 feet); thence S.20°00'00"W., a distance of 1257.25 feet; thence Southwesterly, 1257.28 feet along the arc of a tangent curve to the right having a radius of 1429.00 feet and a central angle of 50°24'39"(chord bearing S.45°12'19'W.,1217.12 feet); thence S.70°24'39"W., a distance of 93.58 feet; thence Northwesterly, 67.12 feet along the arc of a tangent curve to the right having a radius of 35.00 feet and a central angle of 109°53'01"(chord bearing N.54°38'51'W57.,.30 feet) to the POINT OF BEGINNING.

Containing 132. 703 acres.

TOTALING: 296.231 ACRES

Legal Description #2

DESCRIPTION: Bexley Del Webb Phase 1 (by GeoPoint Surveying, Inc)

A parcel of land lying in Sections 9, 10, 15 and 16, Township 26 South, Range 18 East, Pasco County, Florida, and being more particularly described as follows:

COMMENCE at the Southwest corner of said Section 15, run thence along the West boundary of said Section 15, N.00°17'40"E.2702,.53 feet; thence S.89°42'20"E.,183.00 feet to the POINT OF BEGINNING; thence N.00°17'40"E.,a distance of 124.23 feet; thence Northerly, 1306.64 feet along the arc of a tangent curve to the left having a radius of 2183.00 feet and a central angle of 34°17'40"(chord bearing N.16°51'10"W.,1287.22 feet); thence N.34°00'00"W.,a distance of 316.72 feet; thence Northwesterly, 492.85 feet along the arc of a tangent curve to the right having a radius of 2017.00 feet and a central angle of 14°00'00"(chord bearing N.27°00'00'W491.,.62 feet); thence N.20°00'00"W.a, distance of 316.72 feet; thence Northwesterly, 1507.93 feet along the arc of a tangent curve to the left having a radius of 2183.00 feet and a central angle of 39°34'40"(chord bearing N.39°47'20'W1478.,.13 feet); thence N.30°25'20"E.a, distance of 41.56 feet; thence S.88°14'07"E.a, distance of 55.73 feet; thence N.74°09'53"E.,a distance of 55.73 feet; thence N.61 °58'16"E.a, distance of 20.82 feet; thence N.65°0?'00"E.a, distance of 407.50 feet; thence N.70°07'11"E.,a distance of 53.29 feet; thence N.89°00'00"E.,a distance of 52.16 feet; thence S.72°45'00"E., a distance of 45.53 feet; thence S.55°45'00"E., a distance of 45.53 feet; thence S.38°45'00"E., a distance of 45.53 feet; thence S.21 °45'00"E., a distance of 45.53 feet; thence S.04°45'00"E., a distance of 45.53 feet; thence S.08°14'46"W., a distance of 49.10 feet; thence S.09°00'00'W.a, distance of 100.00 feet; thence S.81 °00'00"E.,a distance of 121.00 feet; thence N.09°00'00"E., a distance of 46.47 feet; thence S.81 °00'00"E., a distance of 187.26 feet; thence N.57°45'00"E.a, distance of 575.76 feet; thence Southeasterly, 421.00 feet along the arc of a non-tangent curve to the left having a radius of 540.00 feet and a central angle of 44°40'12" (chord bearing S.55°12'33"E.,410.42 feet); thence N.12°27'21"E., a distance of 80.00 feet; thence Easterly, 550.91 feet along the arc of a non-tangent curve to the right having a radius of 2040.00 feet and a central angle of 15°28'23"(chord bearing S.69°48'28"E.,549.24 feet); thence S.27°55'44"W.,a distance of 80.00 feet; thence Southeasterly, 60.27 feet along the arc of a non-tangent curve to the right having a radius of 1960.00 feet and a central angle of 01°45'43"(chord bearing S.61°11'25"E.,60.27 feet); thence S.33°56'00"W.,a distance of 70.63 feet; thence S.61 °58'32"W.a, distance of 56.65 feet; thence S.43°26'00"W.a, distance of 50.70 feet; thence S.33°56'00"W.a, distance of 52.74 feet; thence S.19°32'00'Wa. ,distance of 50.60 feet; thence S.01°56'00'Wa., distance of 55.73 feet; thence S.15°40'00"E.,a distance of 55.73 feet; thence S.33°16'00"E., a distance of 64.16 feet; thence S.56°04'00"E., a distance of 72.59 feet; thence S.78°52'00"E., a distance of 64.16 feet; thence N.83°32'00"E., a distance of 55.73 feet; thence N.65°56'00"E., a distance of 55.73 feet; thence N.48°20'00"E., a distance of 50.60 feet; thence N.33°56'00"E., a distance of 52.74 feet; thence N.24°26'00"E., a distance of 50.70 feet; thence S.53°36'05"E., a distance of 20.29 feet; thence S.59°23'00"E., a distance of 57.98 feet; thence S.63°45'00"E., a distance of 57.98 feet; thence S.68°07'00"E., a distance of 57.98 feet; thence S.27°21'56"E., a distance of 36.15 feet; thence S.08°12'45"W., a distance of 50.01 feet; thence S.02°35'00'W.a, distance of 65.97 feet; thence S.06°18'26"E., a distance of 75.98 feet; thence S.18°07'34"E., a distance of 75.98 feet; thence S.27°01'00"E., a distance of 65.97 feet; thence S.35°59'00"E., a distance of 65.97 feet; thence S.44°57'00"E., a distance of 65.97 feet; thence S.53°55'00"E., a distance of 65.97 feet; thence S.62°53'00"E., a distance of 65.97 feet; thence S.71°51'00"E., a distance of 65.97 feet; thence S.80°49'00"E., a distance of 65.97 feet; thence N.89°26'27"E., a distance of 77.33 feet; thence N.78°55'33"E., a distance of 77.33 feet; thence N.69°11'00"E., a distance of 65.97 feet; thence S.49°49'19"E., a distance of 73.06 feet; thence Southwesterly, 377.18 feet along the arc of a non-tangent curve to the left having a radius of 1071.00 feet and a central angle of 20°10'41"(chord bearing S.30°05'21"W.,375.23 feet); thence S.20°00'00'Wa., distance of 1257.25 feet; thence Southwesterly, 1257.28 feet along the arc of a tangent curve to the right having a radius of 1429.00 feet and a central angle of 50"24'39"(chord bearing S.45°12'19"W.,1217.12 feet); thence S.70°24'39"W.,a distance of 93.58 feet; thence Northwesterly, 67.12 feet along the arc of a tangent curve to the right having a radius of 35.00 feet and a central angle of 109°53'01"(chord bearing N.54°38'51"W.,57.30 feet) to the POINT OF BEGINNING.

Containing 132.703 acres.

Exhibit B

Lake Services Proposal for

Bexley Del Web CDD

Partnership for Beautiful and Healthy Waterways

,~Aq11atic Systems

~	LAKE & WETLAND SERVICES

2100 NW 33rd Street • Pompano Beach, FL 33069

800-432-4302 • www.aquaticsystems.com

C~ Aquatic Systems	Everything a Lake Should Be		
~  LJ\KE & WETLAND SERVICES			

-	--------	---	-	-	-------	---------	---	SINCE1977 -	--------	-

October 17, 2018

Ms. Angel Montagna, District M anager

Bexley Del Webb CDD

c/o Rizzetta & Company

12750 Citrus Park Lane, Suite# 11 5

Tampa, Florida 33625

VIA EMAIL: amontagna@ rizzetta.com

Dear Angel:

At your request, on October 17, 20 18, we surveyed the ponds at Bexley Del W ebb CDD. We recommend that this integrated Aquatic Systems, Inc. program of waterway management be initiated as soon as possible :

Algae Management. Please recognize that some algae is of benefit to the water quality and food chain, enhancing the total ecosystem.

Management of all existing noxious aquatic weeds growing in the waterway.

Scheduled inspections, with treatment as necessary, to prevent growth of new aquatic weed species through introduction by drainage or other natural processes.

Management of the shoreline grasses growing in the water to the water's edge.

Establishment of a professional reporting system for property management administration.

Kindly sign the contract and return to us as soon as possible, so we may schedule your program.

Angel, a waterway system thrives on the oxygen-producing and nutrient up-taking properties of its plant life. It is the intent of Aquatic Syst ems, Inc. to provide an ecological balance so that both the waterway ecosystem, including fish, animal life, and neighboring community can benefit.

If you have any questions, please do not hesitate to contact me at 1-800-432-4302.

We look forward to serving Bexley Del W ebb C DD !

Sincerely,

Jimmy E. Taylor

Wesley Chapel Sales Manager

JET/lms

cc:	Doug Agnew, Senior Consultant Enclosures

~	Vertex Water Features Authorized Lake Aeration & Fountain Dealer

2100 NW 33rd Street • Pompano Beach , FL 33069 • 1-800-432-4302 • www.aquaticsvstems.com

Ft. Myers• Ft. Pierce • Jacksonville • Miami • Pompano Beach • Sanford • Sarasota • St. Petersburg • Sun City • , vesley Chapel • Winter Garden

Aquatic Systems, Inc.

Lake & Wetland Management Services

Eve7.thing a Lake Should Be
2100 NW 33'	Street, Pompano Beach, FL 33069

Telephone: 1-800-432-4302

www.aquaticsystems.com

1bis Agreement made the date set forth below, by and between Aquatic Systems, Inc., a Florida Corporation, hereinafter called
"ASI", and
Ms. Angel Montagna, District Manager	Aquatic Services Agreement
Bexley Del Web CDD

c/o Rizzetta & Company

12750 Citrus Park Lane, Suite #115 Tampa, Florida 33625

(813)994-1001
amontagna@rizzettacom

One-Year Agreement - Automatic Renewal

Month Service is to Commence: _____~

Date of this proposal:	October 17, 2018	JET-R-91

hereinafter called "Customer". The parties hereto agree as follows:

1.	ASI agrees to manage certain lake(s) and/or waterway(s) in accordance with the terms and conditions of this Agreement in the following location:

Nine Ponds (19,515 total linear foot perimeter) located at Bexley Del Web CDD in Land O'Lakes, Florida.

2.	Minimum of TWENTY-FOUR (24) inspections with treatment as required (twice monthly).

3.	CUSTO:MER agrees to pay ASI, its agents or assigns, the following sum for specified water management service:

Annual Maintenance Program:
Algae & Aquatic Weed Management

Shoreline Grass Management to the Water's Edge

Lake Dye
Debris Removal 1
Management Reporting

Monthly Special Customer Site Inspection Report

Total	Program	Investment

Included

Included

As Required by ASI*

Included

Included

Included

$1,317.00	Monthly

The above price is effective for 90 days from the date ofthis proposal

1	Shoreline area to be cleaned is limited to J foot maximum depth. Individual litter items to be removed are limited to non-natural materials; such as, paper products, Styrofoam cups, plastic bags and aluminum cans that are accessible along the immediate shoreline. Construction debris, shopping carts, discarded household appliances or any other objects not considered litter, are not included but can be removed at an additional cost.

*Services performed at ASI's sole discretion for the success of the Waterway Management Program

Terms & Conditions ofAquatic Services Agreement

1.	If CUSTOMER does not directly own the areas where services are to be provided, CUSTOMER warrants and represents that he has control of these areas to the extent that he may authorize the specified services and in the event of dispute of ownership agrees to defend, indemnify and hold ASI hannless for the consequences of such services.

2.	ASI will be reimbursed by the CUSTOMER for administrative fees, compliance programs, invoicing or payment plans or similar expenses caused by requirements placed on ASI by the CUSTOMER that are not explicitly included in this contract's specifications.

3.	This Agreement shall have as its effective and anniversary date the fust day of the month in which services are first rendered to the CUSTOMER.
b\SJ, In<:	Page I of2

4.	ASI, at its expense, shall maintain the following insurance coverage: Workman's Compensation (statutory limits), General Liability, Property Damage, Products and Completed Operations Liability, and Automobile Liability.

5.	If at any time during the term of this Agreement the government imposes any additional regulatory pennit requirements or fees, this Agreement may be renegotiated to include these changes and the cost of the additional services and/or fees.

6.	Cyanobacteria identification and toxin testing are not included in this agreement. Cyanobacteria are common throughout Florida waterways and our algae management program cannot guarantee the absence, elimination or control of cyanobacteria and toxins. ASI shall in no event be liable to CUSTOMER, or others, for indirect, special or consequential damages resulting from the presence of cyanobacteria or cyanobacteria toxins in their waterbodies.

7.	ASI is not responsible under any circumstances for flooding or water damage from fouled water level control structures resulting from ASI installing Caip Containment Barriers on the structures.

8.	Payment terms are net 30 days from invoice date. All amounts remaining due and owing 30 days after billing by SELLER shall bear interest at the rate of 1.5% per month until paid in full. The CUSTOMER shall pay all costs of collection, including liens and reasonable attorney's fees. ASI may cancel this Agreement, if CUSTOMER is delinquent more than sixty (60) days on their account.

9.	Upon the anniversary date, this Agreement shall automatically be extended for successive twelve-month periods, unless notice of non-renewal has been received by either party, in writing, at least thirty (30) days prior to the anniversary date. ASI may, with thirty (30) days' pre-notification, change pricing effective upon the next anniversary date.

10.	If at any time during the term of this Agreement, CUSTOMER feels ASI is not performing in a satisfactory manner, CUSTOMER shall inform AS!, by certified mail, return-receipt requested, stating the reasons for CUSTOMER'S dissatisfaction. ASI shall investigate and attempt to cure the defect. If, after 30 days from the giving of the original notice, CUSTOMER continues to feel AS! performance is unsatisfactory, CUSTOMER may cancel this Agreement by giving 30 days notice ("Second Notice") to ASI and paying all monies owing to the effective date of termination.

11.	1his Agreement constitutes the entire Agreement of the parties hereto and no oral or written alterations or modifications of the terms contained herein shall be valid unless made in writing and accepted by an authorized representative of both AS! and the CUSTOMER.

Customer or Authorized Agent Signature	Date

Print Name and Title of Signer	Print Company Name of Signer

Aquatic Systems, Inc. Signature	Date

~ !i·J\SlInc.	Page 2 of2

Site Pictures

Aquatic Systems, Inc .	1-800-432-4302

Site Map

Cdi'l ,\qu:itic Systems	Bexley Del Webb	1-800-432-4302		
-e_  I .\ \) A \\111.\.\\1 '1A:\lf:l .1'	Land O' Lakes, FL			

Created on: 10/ 17/2018

Our Commitment to Responsible Lake Management

Aquatic Systems has been effectively managing Florida lakes, ponds, wetlands and uplands using targeted treatments based on scientific research for over 40 years. Headquartered in Pompano Beach and operating t hroughout the state of Florida, we are committed to the restoration and maintenance of naturally occurring freshwater lakes and ponds, man-made storm water /pollution retention ponds, wetlands and preserves.

Our Commitment to You

We believe that forming tong-lasting partnerships w ith our customers is key to attaining beautiful, healthy wat erways for all to enjoy.

·You can expect us to:

•	Respond to all calls within 48 hours, our average is 97% response in under a day

•	Deliver detailed reports after every visit

•	Be available for board or community meetings to give presentations or just answer quest ions

•	Propose and promote methods that are better for the environment and more cost effective over time

Environmental Mission

We hire degreed biologists with the knowledge and experience to continuously assess and make recommendations based upon the conditions present each time they enter your property for service.

In addition to the tests we run for customers, our team of scientists engage in ongoing research to learn why existing treatments are not always effective. Our goat is to find environmentally sound treatments that overcome this growing problem in the challenging Florida environment.

We use the observations of our service teams and t he research from our tabs to find and promote earth-friendly products and methods to treat both common and challeng ing water problems.

Your Personal Lake & Wetland ManagementTean1

Doug Agnew	Jimmy Taylor		
General Manager &	Sates Manager		
Senior Consultant	S.S. in International		
			
B.S. in Environmental	Business and		
Studies, Richard	Marketing, Florida		
Stockton College of	International University.		
New Jersey.	10 years'experience.		
33 years'experience.			

Matt Kramer

Regional Biologist &

Project Manager

B.S. in Biology and

Marine Science,

University of Tampa.

Five years'experience.

Sam Sardes	Morgan Melatti			
Weed Science	~~a;:;ue,N;lc,I			
	Account Rep &			
Director, Certified	Biologist	S.S. Food and Resource		
Lake Professional				
	B.A. Biology with a	Economics, University		
				
1   M.S. In Agronomy,	minor in Chemistry,	of Florida.		
University of Florida.	Florida State	Four years'experience.		
Five years experience.	University.			
	One year experience.			

www aauaticsvstems com , 800.432.4302

Your Local Area Satisfied ASI Customers

11 field offic~s throughout the
state to service our customers

Community Development District

Grand Hampton COD

Bexley COD

Epperson Ranch COD

Home Owners Association

Hunter's Green Community Association

Cheval POA

Villa Rosa HOA

Golf Course	Government/Commercial	
Lexington Oaks Golf Club	Florida Wesley Chapel Hospital	
Heritage Harbor CC	City of Temple Terrace	
	Pasco Hernando State College	

www	aalJalicsvstems,com • 800.432.4302

Aquatic Management Programs

Working in Florida Waterways Since 1977

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Our beautiful Florida environments! We work and live in t hem every day! Aquatic Systems restores and maintains ponds, lakes, wetlands and preserves. Our exceptional results stem from using balanced and ecologically-compatible technologies.

Algae and Aquatic Weed Control

•	Treatments targeted to the specific algae or plant in each water body

•	Ongoing research to determine the underlying causes of overgrowth

•	Scheduled treatments with management reporting

•	Degreed, state certified and licensed aquatic technicians

Wetland and Upland Mitigation Services

•	Design, creation and restoration of natural areas

•	Exotic plant control and removal

•	Mitigation management and government reporting

•	Compliance violation correction services

•	State certified and licensed natural areas field technicians

Midge Fly and Mosquito Control

•	Treatment for year-round control of nuisance organisms: swarming midge flies, mosquito larvae, leeches and more

•	State licensed and insured in public health pest control

Aquatic Lab and Field Testing and Research

•	Experienced field biologists for field testing

•	In-house labs for water quality testing and algae identification

•	Aquatic weed science research lab to find better treatments

•	Bathymetric mapping

•	Easy to understand reports

•	Staff biologist available for your questions

Vertex Lake Aeration and Floating Fountains

•	Sales, installation, servi ce and repair by well-trained technicians of:

-	Bottom diffused aeration systems to improve overall water quality

-	Custom design/build of floating fountains up to 60 horsepower with spectacular display heights from 10'to 100'

Fisheries Management

•	Triploid grass carp to help control aquatic weeds

•	Redear and bluegill help control midge flies

•	Sport fish including largemouth bass, catfish and bluegill

www.aauaticsvstems com • 800.432.4302

Assessment Services

Lake Water Quality Testing and Research Services

Aquatic Systems has a fully staffed, In-house laboratory to provide complete water testing services to our clients. Laboratory data have many uses; including determining suitability of water for recreation or for irrigation. All water chemistry and bacteria test reports include full explanations and an aquatic biologist is available at our laboratory to answer all your questions.

The team, shown below, consists of the top professionals in lake science and experienced regional biologists who receive ongoing training to perform all tests to the highest standards.

FIELD ASSESSMENT SAMPLING

From identifying potential source points for excessive nutrients to oxygen and temperature levels; your assessments are performed by our highly trained field biologists.

BATHYMETRIC LAKE MAPPING

How deep is your lake? How thick is the vegetation? A 3- 0 map of the lake will help us treat the water more efficiently and/or specify the most effective aeration system.

WATER QUALITY LAB

Water is more than Hp. It is comprised of a multitude of nutrients and particulates. Our lab scientists can perform over 30 specialized tests to determine your water'strue chemistry.

ALGAE IDENTIFICATION LAB

To treat the algae, it'simportant to know what type of algae you are having problems with. We can identify both the type of algae and whether or not it is toxic

AQUATICPLANT ANO ALGAE LAB

Our in-house research lab studies difficult to control Invasive species to find the most effective rate and types of treatments that minimize potential harm to the environment.

CONSULTING SERVICES

Our experts are available for water resource management presentations, or to just answer quest ions at your meetings. Continuing Education Units (CEUs) are also available.

www,aavaticsvstems,com • 800.432.4302

Remson Aquatics

11 207 Remson Lane

Riverview, FL 33579

(813)	671-2851 kar@remsonaquatics.com www.remsonaquatics.com

ESTIMATE

ADDRESS	ESTIMATE# 1119	
OW Bexley COD	DATE 10/17/2018	
12750 Citrus Park Lane Suite		
115		
Tampa, Fl.  33625		

ACTIVITY	AMOUNT	
Aquatic Maintenance	545.00	
Proposal for the maintenance of 6 water ways within the community. The ponds are new		
and require a maintenance program.		
The aquatic weed control program includes spraying of water management areas. These		
operations are for the control of water hyacinths, cattails, broadleaf weeds and grasses,		
torpedo grass, hydrilla and other noxious or invasive weeds, including bottom rooted		
aquatics weeds that are unsightly or may impede the flow of water in the lakes and flow		
ways. No less than 12 visits applications will be made during this contract period as		
needed.		
Algae are an ongoing problem and will be treated accordingly to the customers		
satisfaction as well as the aquatics mentioned above.		
Aquatics weeds mentioned above shall occupy no more than 5% of any lake, retention,		
or detention pond.		
All non-beneficial & invasive lake bank grasses and weeds, including torpedo grass, will		
be controlled from the water bodies control elevation into the water body during all times		
of that year. During times of drought, when the water bodies recede, it will be required to		
keep these undesirable lake bank grasses and weeds eradicated from the exposed lake		
banks.		
Hydrilla, bladderwort, coontail, chara and other matting type aquatic plants shall be		
treated upon identification in the water body, with on the surface or below it.		
The contractor will spray weeds, exotics and other nuisance vegetation from littoral		
zones.		
The contractor shall report, annually, on the conditions of the fixed structures within the		
storm water ponds, retention, and detention ponds. The fixed structures shall include		
control structures, culverts, and headwalls.		
The area to be treated includes all water surfaces and shall extend from the waters edge		
to the top of the bank on each side where vegetation exists.		

TOTAL	$545.00

Accepted By	Accepted Date