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11-0607_CAPISTRANO UNIFIED SCHOOL DISTRICT_First Amended & Restated Joint Community Facilities Agreement
' ... FIRST AMENDED AND REST A TED JOINT COMMUNITY FACILITIES AGREEMENT among CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC and WHISPERING HILLS, LLC FINAL 5/31/11 158190.8 FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING HILLS, LLC THIS FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN mAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING HILLS, LLC. ( "F/A JCFA") dated this _day of ___ , 2011, by and among the CAPISTRANO UNIFIED SCHOOL DISTRICT, of Orange County, California, a school district organized under the laws of the State of California ("School District" and "State"), COMMUNITY FACILITIES DISTRICT NO. 2005-1 (WHISPERING HILLS), a community facilities district formed and operating pursuant to State laws including the Act (as defined below) ("CFD No. 2005-1 "),the CITY OF SAN JUAN CAPISTRANO, a general law city ("City"), RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("Landowner") and WHISPERING HILLS, LLC, a Delaware limited liability company ("Prior Owner"), individually "Party" and in some instances referred to herein collectively as the "Parties." RECITALS A. The City, School District and Landowner's predecessor-in-interest, Prior Owner, entered into that certain Joint Community Facilities Agreement among Capistrano Unified School District and City of San Juan Capistrano and Whispering Hills, LLC relating to Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) as of July 1, 2005 ("JCFA"), with respect to proposed CFD No. 2005-1. CFD No. 2005-1 has now been formed, pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Government Code Section 53311 et seq. ("Act"), as to the property described on Exhibit "A" ("Property"), and is added hereto as a Party. Prior Owner has assigned the JCF A to Landowner, and the Property is included in CFD No. 2005-1. B. Landowner has requested that CFD No. 2005-1 conduct proceedings to consider reducing the "Special Taxes" of CFD No. 2005.1, pursuant to the Act, which proceedings are now pending ("SIT Revision Proceedings"), and if completed as proposed by Landowner, will reduce the Special Taxes and the amount of bonds to be issued by CFD No. 2005-1. In conjunction with the S/T Revision Proceedings, the School District, CFD No. 2005-1, Landowner, and Prior Owner expect to enter into a First Amended Impact Mitigation Agreement related to the Whispering Hills Project and Community Facilities District No. 2005-1 ("F/A Agreement"), which will, among other matters, specify the parameters for issuance of two series of bonds of CFD No. 2005-1 ("Bonds") to finance School Facilities as described and defined in the F/A Agreement, payment of the "Incremental Payment Obligation" provided for in the F/A Agreement and City Facilities (defined below). The City, School District, CFD No. 2005-1, Prior Owner and Landowner intend to enter into this F/A JCFA to supersede the JCFA concurrent with the execution of the F/A FINAL 5/31/11 2 158190.8 Agreement. This FIA JCFA shall become effective ("Effective Date") on the same conditions and date as the F I A Agreement. C. Landowner is the owner and developer of the Property and has obtained the necessary development approvals ("City Entitlements") to construct approximately 155 residential "Dwelling Units" on the Property ("Project"), and to provide the required infrastructure for such Dwelling Units, as described in Exhibit "B" prepared by David Taussig & Associates ("Special Tax Administrator for CFD No. 2005-1 ")based on information provided by Landowner. CFD No. 2005-1 has been authorized, pursuant to the Act, to finance School Facilities as described in the FIA Agreement, certain roadway, water, sewer, storm drain and other public improvements that are included in City fee programs described in Exhibit "C" hereto ("City Fee Facilities") and other improvements, described on Exhibit "C" that have been constructed by the Prior Owner, or in the future may be constructed by Landowner and acquired by City, to be owned and operated by the City ("Acquisition Facility(ies)"). The City Fee Facilities are to be provided in lieu of the payment of certain fees imposed by the City as a condition of development of the Project ("City Fees"). Additional capital improvements of the City that are to be constructed by the City and that relate to needs created by development of the Project may also be financed through CFD No. 2005-1 ("Additional City Facilities"). The Additional City Facilities, together with the Acquisition Facility(ies) and City Fee Facilities, are collectively referred to herein as the "City Facilities." Proceeds of Special Taxes and Bonds to be provided to City for City Facilities shall be provided pursuant to this FIA JCFA, so long as consistent with applicable law, including the Act, federal law relating to use of proceeds of tax-exempt bonds for capital facilities, not services, maintenance or repair, and Landowner shall comply with the applicable provisions of Article 2 (commencing with Section 1770) of Chapter 1 of Part 7 of Division 2 of the Labor Code ("Labor Compliance Requirements" and "LCR"). D. The cost of the School Facilities was determined at the time of formation of CFD No. 2005-1 to be funded by a larger share ofthe proceeds ofthe Special Taxes and Bonds ofCFD No. 2005-1 than the City Facilities. Such is determined to be the case as to this FIA JCFA, therefore the School District was determined, and is hereby determined, to be the governing body for the administration, levy of Special Taxes; and issuance of Bonds of CFD No. 2005-1. E. The provision of the School Facilities and the City Facilities is necessitated by the development ofthe Project within CFD No. 2005-1 and the Parties hereto find and determine that the residents of the City, the School District, and CFD No. 2005-1 will be benefited by the construction and/or acquisition of the City Facilities and the School Facilities, and as such, this F I A JCF A is beneficial to the interests of such residents of the City and the School District. F. The Parties hereto intend to have CFD No. 2005-1, to the extent provided in the FIA Agreement and this FIA JCFA, assist in funding the City Facilities based on amounts which will vary depending on the interest rate at which the Bonds are issued as shown on Exhibit "B" and as provided in the F I A Agreement and applicable law, including the Act and federal law pertaining to use of proceeds of the Bonds. G. The City is authorized by Section 53313.5 ofthe Act to assist in the financing of the acquisition and/or construction of the City Facilities and the School District is authorized to assist in the financing of the School Facilities. This Agreement constitutes an amended joint community facilities agreement, within the meaning of Section 53316.2 of the Act, by and among the City, FINAL 5131111 3 158190.8 Prior Owner, Landowner, CFD No. 2005-1, and the School District, pursuant to which CFD No. 2005-1 was and is authorized to finance the construction and/or acquisition of the City Facilities to the extent and as provided in this F/A JCFA and the F/A Agreement. As authorized by Section 53316.6 of the Act, responsibility for constructing, providing and operating the School Facilities is agreed to be the function of the School District and responsibility for constructing, providing for and operating the City Facilities is agreed to be the function ofthe City. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 1. Recitals. Each of the above recitals is incorporated herein and is true and correct. 2. SIT Revision Proceedings. At the request of Landowner, CFD No. 2005-1 has initiated proceedings to consider reducing the Special Taxes of CFD No. 2005-1. 3. Sale of Bonds and Use ofProceeds. (a) The issuance and sale of Bonds and allocation of proceeds of the Special Taxes ofCFD No. 2005-1 and proceeds of the Bonds shall be as set forth in the F/A Agreement and this F/A JCFA. CFD No. 2005-1 shall maintain records consistent with generally accepted accounting procedures as determined by CFD No. 2005-1 relating to the disbursements of proceeds of the Special Taxes and the proceeds of the sale of each series of the Bonds. (b) Pursuant to the F/A Agreement, Special Taxes shall be levied on property within CFD No. 2005-1 prior to the issuance of all Bonds of CFD No. 2005-1 to finance School Facilities and City Facilities. Of the amount of such Special Taxes collected by CFD No. 2005-1 and deposited in the "Special Fund" established pursuant to the F/A Agreement, 60% shall be disbursed to finance School Facilities and 40% shall be disbursed to finance City Facilities. On the first business day following each April 1 funds in the Special Fund as of March 1, and October 1 funds in the Special Fund as of September 1, CFD No. 2005-1 shall be disbursed to City an amount equal to 40% of the amount then on deposit in the Special Fund. Of such amount disbursed to the City, 88% shall be disbursed by City in the priority specified in Section 4(c) below and 12% shall be used by the City to fund Additional City Facilities. (c) Each series of Bonds shall be issued pursuant to a fiscal agent agreement, trust indenture or similar document ("Indenture"). The Indenture shall establish a City Facilities Account ("City Facilities Account") into which the proceeds of each series of Bonds (to the extent provided in the F/A Agreement) shall be deposited to finance all or a portion of the City Facilities listed in Exhibit C, in the amounts and to the extent provided in the F/A Agreement. Landowner acknowledges that City shall not be liable for CFD No. 2005-1 's failure to issue Bonds or the failure to issue Bonds in an amount sufficient to pay for all or any part of the School Facilities and City Facilities. In no event will an act, or an omission or failure to act, excepting only an event of willful misconduct, by the City with respect to the disbursement or nondisbursement of funds pursuant to this F/A JCFA or by CFD No. 2005-1 with respect to the provision of any other funding for the School Facilities or the City Facilities subject the City to liability hereunder. FINAL 5/31/11 4 158190.8 4. Disbursements. (a) Landowner acknowledges that neither the City, School District nor CFD No. 2005-1 has any obligation to pay any amount with respect to City Facilities except as to the amount available in the Special Fund and City Facilities Account from time to time, regardless of the cost of the City Facilities, nor will the unavailability of such funds reduce the amounts owed by Landowner to City with respect to City Facilities. The proceeds of the Bonds designated for the City Facilities, to the extent provided in the F/A Agreement and this F/A JCFA, shall be held by the fiscal agent or trustee for the Bonds ("Fiscal Agent") in the City Facilities Account, which shall be a separate account. Funds in the City Facilities Account shall be invested by the Fiscal Agent, as determined by the Fiscal Agent, and earn and accumulate interest thereon as provided in the applicable Indenture. Funds in the City Facilities Account shall be available to finance the City Facilities, as provided for in this F/A JCFA, except to the extent CFD No. 2005-1 determines interest earnings must be rebated to the United States in accordance with the Internal Revenue Code of 1986, as amended. Landowner agrees that City shall be entitled to receive an amount equal to 12% of the total amount deposited in the City Facilities Account with respect to each series of Bonds for Additional City Facilities ("Additional City Facilities Amount"). City agrees that the provisions of this F/A JCFA with respect to the funding to be provided from the Special Fund and City Facilities Account for Additional City Facilities shall fully satisfy the provisions of Section 6.7 of that certain "Amended Development Agreement for Whispering Hills Estates" by and between the City and Landowner dated July 16, 2009. The foregoing has no applicability to School District nor CFD No. 2005-1. (b) The Fiscal Agent shall make disbursements to City from the City Facilities Account in accordance with the terms ofthis F/A JCFA and the Indenture. Neither the School District nor CFD No. 2005-1 shall be responsible to the City for costs incurred by the City as a result of withheld or delayed payments. (c) The City agrees that prior to requesting payment from CFD No. 2005-1 relating to City Fee Facilities and Additional City Facilities it shall review, verify, and approve all costs included in its request and (a) will have already paid such costs of City Fee Facilities and Additional City Facilities from its own funds or shall have prepared a check for disbursement which will be mailed or hand delivered within 48 hours of receipt ofCFD No. 2005-1 funds, (b) or will have already encumbered the funds requested and will trace and remit to CFD No. 2005-1 all earnings, if any, by the City in excess of the yield on the applicable Bonds accruing from the investment ofthe proceeds ofthe Bonds requested, from the date of receipt of such proceeds by the City to the date of expenditure by the City of such proceeds for verified legitimate capital costs of the City Fee Facilities or Additional City Facilities as herein described, and (c) City Fee Facilities and Additional City Facilities for which payment is requested, pursuant thereto were or will be constructed in accordance with applicable law, including the LCR to the extent the City determines it is applicable. Such remittance, if any, shall occur on the earlier of the date of expenditure of such proceeds or each anniversary date of the transfer of such proceeds from CFD No. 2005-1 to the City. The City agrees that in processing the above disbursements it will comply with all applicable law for the expenditure of Bond proceeds including the Act, as amended, the Internal Revenue Code of 1986, and any amendments thereto. Prior Owner and Landowner have advanced to the City amounts for certain City Fee Facilities pursuant to the JCFA, as specified in Exhibit "C." Consequently, as between Landowner and City, the first priority for the disbursement of funds received from the Special Fund in accordance with Section 3(b) above and from the City Facilities FINAL 5/31/11 5 158190.8 Account shall be those amounts previously advanced, amounts attributable to the Additional City Facilities as provided herein, and upon City's receipt of the disbursement of funds from the City Facilities Account and the Special Fund, Landowner shall be reimbursed and repaid for its prior advances by the City in an amount equal to 88% of such disbursements and City shall retain 12% of such disbursement for Additional City Facilities. If Landowner or its designee is required to advance additional funds to the City for City Fee Facilities to the extent herein provided prior to the availability of sufficient funds in the Special Fund or the City Facilities Account, such advances shall be reimbursed by City to Landowner at the time, and only to the extent, funds in an equal amount are disbursed to the City for City Fee. Facilities in satisfaction of the corresponding City Fees from the Special Fund or City Facilities Account. City and Prior Owner acknowledge that the City has no obligation to reimburse the Prior Owner for any amounts provided for in this FIAJCFA. (d) The City agrees to maintain adequate internal controls over its payment function and to maintain accounting records in accordance with generally accepted accounting procedures. The City will, upon request, provide to CFD No. 2005-1 its annual financial report certified by an independent certified public accountant for purposes of calculating CFD No. 2005-1 's arbitrage rebate obligations, if any. CFD No. 2005-1 shall have the right to conduct its own audit of the City's records at reasonable times and during normal business hours. (e) Upon receipt of Landowner's written request, the City shall submit a request for payment for City Fee Facilities to CFD No. 2005-1 to send to the Fiscal Agent, which shall be in the form attached hereto as Exhibit "D", shall be signed on behalf of CFD No. 2005-1 by the Deputy Superintendent, Business Support Services of School District or written authorized designee and by the City Manager or written authorized designee of City, and shall be for the exact amount paid or encumbered or to be disbursed as provided in paragraph (c) above by the City for City Fee Facilities costs. At the same time as the City submits a payment request to CFD No. 2005-1 pursuant to this Section 4( e) or a payment request pursuant to Section 5( d) below, it may also submit a payment request for Additional City Facilities to the extent, and as limited by this FIA JCFA, including not by way of limitation, Recital C above and Exhibit "C," in an amount equal to 25% of the amount in such other payment request, but only until the amount disbursed to the City with respect to the applicable series of Bonds equals the Additional City Facilities Amount. Upon receipt of an approved payment request by CFD No. 2005-1 and City completed in accordance with the terms ofthis F/A JCFA, the Fiscal Agent shall wire transfer such portion of requested funds as are then available for release from the City Facilities Account pursuant to the Indenture to the City's bank account, as directed by the City. If there are insufficient funds available in the City Facilities Account to pay the entire amount requested, the unfunded amount shall be paid as soon as possible following the deposit of additional funds in the City Facilities Account. If more than one payment request has been submitted, the Fiscal Agent shall make payment on all payment requests from available funds in proportion to the total amount submitted. (f) The provisions of this F/A JCFA shall in no way relieve the Landowner from the payment of any fees charged by the City, nor does any provision of this F/ A JCF A constitute deferral or any fee or facility required to be paid or provided by the Landowner with respect to the development of the Property when otherwise due under the policies and procedures of the City. If the City Fees which would otherwise be due to the City from the Project ultimately are determined to be less than the amounts, if any, deposited in the City Facilities Account, the Landowner shall not be entitled to any rebate or other credit or consideration, it being intended that FINAL 5/31/11 6 158190.8 the amount deposited in the City Facilities Account be applied solely as a credit up to the amount of the total City Fees otherwise due with respect to the Project, and the Landowner bears the risk that the total of such City Fees are less than the amount deposited in the City Facilities Account. Any deposit to the City Facilities Account shall in no way fix the amount of the City Fees due with respect to the Project, and any increase in City Fees from and after the date of this F/A JCFA shall be taken into account in determining the amount of the credit to be given pursuant to this FIA JCFA, except as may have otherwise been agreed to by the City and the Landowner. If the total City Fees due with respect to the Project are greater than the amounts, if any, deposited to the City Facilities Account, the excess shall be charged to the Landowner in the same manner that such City Fees would be charged by the City in the absence of this F/A JCFA. This F/A JCFA shall in no way be construed as a deferral of any City Fee otherwise due with respect to the Project and amounts remaining in the City Facilities Account when it is closed, if any, shall be transferred as provided in Section 8.4 of the F/A Agreement. 5. City Acquisition of Acquisition Facility(ies). (a) Plans and Specifications. Landowner shall be responsible for the preparation of the plans and specifications ("Plans and Specifications") for each Acquisition Facility(ies) described in Exhibit C, which shall relate to the need created by development of the Project. The Plans and Specifications shall conform to the requirements of the City for the Acquisition Facility(ies) and shall be subject to the review and approval by the City. (b) Construction and Inspection of the Acquisition Facility(ies). Each Acquisition Facility(ies) shall be constructed in accordance with the Plans and Specifications as approved by the City. Landowner shall be solely responsible for the bidding, contracting and construction of the Acquisition Facility(ies) and each Acquisition Facility that is acquired with the proceeds of the Bonds shall be bid, contracted and constructed in accordance with the requirements set forth in this Section 5. Neither School District nor CFD No. 2005-1 shall have any responsibility whatsoever for the bidding, contracting and/or construction of the Acquisition Facility(ies). The construction of each Acquisition Facility shall be subject to inspection by the City. Upon the request of Landowner, the City shall notify CFD No. 2005-1 and Landowner in writing when the Acquisition Facility(ies) has been substantially completed in accordance with the Plans and Specifications and when the Acquisition Facility(ies) has been finally completed and is ready for acceptance by the City Engineer. In order for Acquisition Facility(ies) to be eligible to be financed with the proceeds of the Bonds, Prior Owner and Landowner shall have complied with and shall prospectively comply with the following conditions precedent: (i) City shall approve the Plans and Specifications and the construction bid documents, (ii) the contractor to whom the construction contract is awarded shall comply with the LCR to the extent determined applicable by the City and pay not less than the prevailing rates of wages for all construction work pursuant to Labor Code Sections 1770, 1773 and 1773.1, and (iii) the construction contract shall be awarded, on the basis of competitive bids, to the lowest, responsible bidder. City, Prior Owner and/or Landowner shall affirm and warrant that Landowner's compliance with all provisions of this Section 5(b) ensures that the Acquisition Facility(ies) to be acquired with the proceeds of the Bonds is consistent with the Act, the LCR to the extent determined applicable by the City, and shall be constructed as if it had been constructed by the City. For purposes of this Agreement, an Acquisition Facility(ies) shall be deemed "substantially completed" when Landowner has notified the City that the Acquisition Facility(ies) FINAL 5/31111 7 158190.8 has been completed in accordance with its Plans and Specifications, the City's inspector has inspected the facility, prepared a final "punch list" and has determined that the punch list items required to be completed are items not required for the safe operation of the Acquisition Facility(ies) and can therefore be completed after the Acquisition Facility(ies) has been accepted by the City, and provision has been made to the City's satisfaction for completion of such items. For purposes of this Agreement, "final completion" of the Acquisition Facility(ies) shall be deemed to have occurred, when all punch list items have been completed to the satisfaction of the City and all contractors and subcontractors constructing the grading improvements shall have provided lien and material releases. (c) Acquisition and Ownership ofthe Acquisition Facility(ies). Upon receipt by CFD No. 2005-1 of notification by the City that an Acquisition Facility(ies) has been completed in accordance with the provisions hereof, the Acquisition Facility(ies) shall be deemed eligible for acquisition by the City. Simultaneously upon acquisition of the Acquisition Facility(ies) by the City, title to the land or, if acceptable to the City, an irrevocable offer of dedication of the land, underlying the Acquisition Facility(ies) shall be conveyed to the City if such title or irrevocable offer of dedication has not previously been conveyed to the City. Neither the School District, CFD No. 2005-1 nor the City is directly or indirectly obligated, indebted or otherwise liable for the payment of the "Acquisition Price," or any portion thereof, of the Acquisition Facility(ies). Upon acceptance of the Acquisition Facility(ies) by the City, the City shall incorporate the Acquisition Facility(ies) in the City's public works system. Following the expiration of any warranty period applicable to the construction of the Acquisition Facility(ies) during which warranty period Landowner shall be responsible for the maintenance of the Acquisition Facility(ies), the City shall thereafter be responsible for the maintenance of the Acquisition Facility(ies) in accordance with all applicable City maintenance procedures and practices. (d) Payment Requests. The form of payment request to be submitted by Landowner to City and by City to CFD No. 2005-1 in requesting payment by the District of the Acquisition Price with respect to an Acquisition Facility(ies) shall be substantially in the form of Exhibit D-1 hereto. The Acquisition Price of an Acquisition Facility(ies) shall include all actual costs and expenses relating to the planning, design, engineering, construction and inspection of the Acquisition Facility(ies) substantiated to the reasonable satisfaction of City. Within ten (I 0) business days of Landowner's submission to City of a payment request, City shall determine if the Acquisition Facility(ies) has been finally completed and shall either deny or approve the payment request and send it to CFD No. 2005-I, which approval shall not be unreasonably withheld. If City denies any payment request it shall provide Landowner a detailed written explanation describing the reasons or rational for such denial. All denied payment requests may be resubmitted for approval. Landowner shall reimburse City for its actual costs incurred in connection with the processing of such payment requests, including the inspection of the Acquisition Facility(ies) and such amounts shall be included in the Acquisition Price paid from the City Facilities Account. The City shall send approved payment requests to CFD No. 2005-I, which within ten (1 0) business days will forward such request to the Fiscal Agent. The Fiscal Agent shall wire transfer the amount of the approved Acquisition Price to the City as designated by City. City will in turn make payment to Landowner as specified in the payment request. The sole source of funds for payment FINAL 5/3 Ill I 8 158190.8 of the Acquisition Price of an approved Acquisition Facility(ies) shall be the funds on deposit in the City Facilities Account and funds disbursed to the City from the Special Fund. 6. Tax Matters. In connection with the issuance of any Bonds, where a portion of the proceeds will be deposited in the City Facilities Account for the payment of City Facilities, City agrees to execute and deliver such certifications and agreements as may be reasonably required in order for Bond Counsel for CFD No. 2005-1 to conclude that interest on such Bonds will be excluded from gross income under Section 103 ofthe Internal Revenue Code of 1986. City agrees that it shall not use proceeds of Bonds provided to pay for City Facilities in any manner that would cause interest on the Bonds to become included in gross income for federal income tax purposes. City represents the following with respect to the use of the proceeds of the Bonds provided to fund City Facilities: (a) City expressly acknowledges that the Bonds are subject to Federal tax requirements applicable to the tax-exempt securities; (b) City expressly confirms and warrants to CFD No. 2005-1 that the City Facilities financed hereunder have not been previously financed with the proceeds of other tax-exempt securities or bonds; and (c) City agrees to promptly provide written notice to CFD No. 2005-1 of any such financing of City Facilities financed hereunder until the issuance of the Bonds. City reasonably expects to expend the proceeds of the Bonds on City Facilities as identified in Exhibit "C," attached hereto, and by this reference herein incorporated, within three (3) years from the date of issuance of the Bonds. City further agrees to maintain proceeds of the Bonds provided to pay for City Facilities in a separate accounting, apart from all other accountings of City. City shall maintain adequate controls over its payments, and of proceeds of the Bonds provided to pay for City Facilities accounting records, in accordance with generally accepted accounting principles as to its receipt and expenditure of proceeds of Bonds provided to pay for City Facilities. City will, upon request, provide CFD No. 2005-1 and/or Landowner with access to City records related to the City Facilities and will provide to CFD No. 2005-1 and/or Landowner, its annual financial report certified by an independent certified public accountant upon either Party's request and payment of applicable copying charges, if any, in accordance with the City's Public Record Act guidelines. CFD No. 2005-1 agrees to maintain full and accurate records of all amounts, and investment earnings, if any, expended for such Projects. CFD No. 2005-1 will, upon request, provide City and/or the Landowner with access to CFD No. 2005-1 's records relating to the City Facilities Account. 7. Indemnification. Landowner shall assume the defense of, indemnify and save harmless, School District, CFD No. 2005-1 and the City, their respective officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of or resulting from, any act or omission of Landowner with respect to Landowner's obligations under this F/A JCFA. This shall include any and all claims, actions, damages, losses, or expense of every type or description relating to the failure of Prior Owner or Landowner to comply with the LCR as FINAL 5/31/11 9 158190.8 to any City Fee Facilities, Acquisition Facilities, or privately-funded public improvements required by City Entitlements of the Project; provided, however, that Landowner shall not be required to indemnify any person or entity as to damages resulting from willful misconduct of such person or entity or their officers, agents or employees. 8. Allocation of Special Taxes. The Board of Trustees of School District, as the governing body of CFD No. 2005-1, shall annually levy a Special Tax, subject to completion of the SIT Revision Proceedings, as provided for in the SIT Revision Proceedings. The entire amount of any Special Tax levied by CFD No. 2005-1, as provided in the FIA Agreement, shall be allocated to CFD No. 2005-1, as provided in the FIA Agreement. 9. Amendment. This FIA JCFA may be amended at any time but only in writing signed by each Party hereto. 10. Entire Agreement. This FIA JCFA contains the entire agreement between the parties with respect to the matters provided for herein and supersedes the JCF A. 11. Notices. Any notice, payment or instrument required or permitted by this Agreement to be given or delivered to either party shall be deemed to have been received when personally delivered or seventy--two hours following deposit of the same in any United States Post Office in California, registered or certified, postage prepaid, addressed as follows: School District: CFD No. 2005-1 With copy to: City of San Juan Capistrano: FINAL 5131111 Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Bowie, Arneson, Wiles & Giannone 4920 Campus Dr., Newport Beach, CA 92660 Attention: Alexander Bowie, Esq. City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager 10 158190.8 Landowner: With a copy to: With a copy to: Prior Owner: Rancho San Juan Development LLC 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager O'Neil LLP 19900 MacArthur Blvd., Suite I 050 Irvine, CA 92612 Attention: John Yeager, Esq. IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Whispering Hills, LLC c/o IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Each Party may change its address for delivery of notice by delivering written notice of such change of address to the other parties hereto. 12. Exhibits. All exhibits attached hereto are incorporated into this F/A JCFA by reference. 13. Severability. If any non-material part of this F/A JCFA is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder ofthis F/A JCFA shall be given effect to the fullest extent reasonably possible. 14. Governing Law. This F/A JCFA and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California. 15. Waiver. Failure by a party to insist upon the strict performance of any of the provisions of this F/A JCFA by the other parties hereto, or the failure by a party to exercise its rights upon the default of another party, shall not constitute a waiver of such party's right to insist and demand strict compliance by such other parties with the terms of this Agreement thereafter. 16. No Third Party Beneficiaries. No person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this FIA JCFA (either express or implied) is intended to confer upon any person or entity, other than the City, the School District, the District, Prior Owner and Landowner (and their respective successors and assigns), any rights, remedies, obligations or liabilities under or by reason of this F/A JCFA. FINAL 5/31111 11 158190.8 17. Singular, Plural and Gender. As used herein, the singular of any word includes the plural, and terms in the masculine gender shall include the feminine. 18. Counterparts. This F/A JCFA may be executed in counterparts, each ofwhich shall be deemed an original, but all of which shall constitute but one instrument. IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. Approved as to form: By: .·. --------~. ( , / \a H 1 ~7 Nam~:. _ __; /11 1 :Y--) / '0 NOssaman, LLP., Special Counsel CAPISTRANO UNIFIED SCHOOL DISTRICT ~ ~:RBi~ Title: Deputy Superintendent, Business and Support Services Approv~1 By: and Alexander Bowie, Counsel to Capistrano Unified School District Community Facilities District No. 2005-1 FINAL 5/31/11 CITY OF SAN JUAN CAPISTRANO By: COMMUNITY FACILITIES DISTRICT NO. 2001-1 of the Capistra Unified School Distric":.!t:----... By: ___ -1----'---+-'---~----- Name: Title: 12 Deputy Superintendent, Business and Support Services 158190.8 FINAL 5/31111 RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member To WIDSPERING IDLLS, LLC, a Delaware limited liability company By: Name: C. Blaiae ft«<NH ~Pnior Vice President Title: By: iS~ Name: JayW.Pmit& Senior Vice President Title: 13 158!90.8 EXHIBIT A DESCRIPTION OF PROPERTY The real property within Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills): Those certain parcels of land situated in the City of San Juan Capistrano, County of Orange, State of California described as follows: A-1 David Taussig & Associates, Inc. 6/612011 FY 2010-11 Assessor's Parcels within CFD No. 2005-J of the Capistrano Unified School District (Whispering Hills) Owner !II Assessor's Parcel Number Tract Lot Acreage CITY OF SAN JUAN 664-251-08 16634 T 0.990 Subtotal 0.990 RANCHO SAN JUAN DEVELOPMENT LLC 124-140-50 0.048 664-241-01 16634 155 0.697 664-241-02 16634 154 0.708 664-241-03 16634 153 0.697 664-241-04 16634 152 0.702 664-241-05 16634 lSI 0.709 664-241-06 16634 ISO 0.690 664-241-07 16634 149 0.712 664-241-08 16634 148 0.714 664-241-09 !6634 147 1.007 664-241-10 16634 146 0.805 664-241-11 16634 145 0.814 664-241-12 16634 144 0.772 664-241-13 16634 143 0.723 664-241-14 16634 142 0.743 664-241-15 16634 141 1.052 664-241-16 16634 s 0.120 664-241-17 16634 R 2.190 664-241-18 16634 M 0.140 664-241-19 16634 N 0.150 664-241-20 16634 E 10.130 664-241-21 16634 G 34.020 664-241-22 16634 c 4.310 664-251-04 16634 L 0.002 664-251-05 16634 0 8.690 664-251-06 16634 H 17.840 664-251-10 (PORTION) 16634 PORTION OF LOT B 5.530 664-251-13 16634 D 1.740 664-251-15 16634 PORTION OF LOT F 124.570 664-252-01 16634 to 0.242 664-252-02 16634 9 0.230 664-252-03 16634 8 0.246 664-252-04 16634 7 0.268 664-252-05 16634 6 0.236 664-252-06 16634 5 0.245 664-252-07 16634 4 0.273 K\CLIENTS2\CAPO.USD\MELLO\whisphill\Database\ I 0-11 \APN Exhibit Page I of5 David Taussig & Associates, Inc. 6/6/2011 FY 2010-II Assessor's Parcels within CFD No. 2005-I of the Capistrano Unified School District (Whispering Hills) Owner [II Assessor's Parcel Number Tract Lot Acreage 664-252-08 16634 3 0.272 664-252-09 16634 2 0.274 664-252-10 16634 I 0.320 664-252-11 16634 24 0.315 664-252-12 16634 25 0.288 664-252-13 16634 23 0.451 664-252-14 16634 22 0.250 664-252-15 16634 21 0.230 664-252-16 16634 20 0.237 664-252-17 16634 19 0.248 664-252-18 16634 18 0.252 664-252-19 16634 44 0.245 664-252-20 16634 45 0.245 664-252-21 16634 46 0.247 664-252-22 16634 47 0.575 664-252-23 16634 26 0.236 664-252-24 16634 27 0.232 664-252-25 16634 28 0.245 664-252-26 16634 29 0.276 664-252-27 16634 48 0.453 664-252-28 16634 49 0.303 664-252-29 16634 50 0.327 664-252-30 16634 51 0.286 664-252-31 16634 52 0.316 664-252-32 16634 53 0.350 664-252-33 16634 54 0.382 664-252-34 16634 55 0.416 664-252-35 16634 56 0.426 664-252-36 16634 30 0.262 664-252-37 16634 31 0.230 664-252-38 16634 32 0.537 664-252-39 16634 33 0.297 664-252-40 16634 34 0.279 664-252-41 16634 35 0.265 664-252-42 16634 u 0.100 664-253-01 16634 17 0.312 664-253-02 16634 81 0.288 664-253-03 16634 80 0.283 664-253-04 16634 79 0.332 664-253-05 16634 78 0.409 664-253-06 16634 77 0.264 664-253-07 16634 76 0.232 664-253-08 16634 75 0.231 K:ICLIENTS2\CAPO.USD\MELLO\whisphill\Database\1 D-11\APN Exhibit Page2 of5 David Taussig & Associates, Inc. 6/61201 I FY 2010-11 Assessor's Parcels within CFD No. 2005-1 of the Capistrano Unified School District (Whispering Hills) Owner Ill Assessor's Parcel Number Tract !&! Acreage 664-253-09 I6634 74 0.564 664-253-IO I6634 I6 0.333 ·--· 664-253-II I6634 IS 0.47I 664-253-12 I6634 I4 0.662 664-253-I3 I6634 II 0.233 664-253-I4 16634 I2 0.233 664-253-IS I6634 I3 0.4I2 664-253-16 I6634 I40 0.306 664-253-I? I6634 139 0.304 664-253-18 I6634 138 0.318 664-253-I9 I6634 I37 0.384 664-253-20 I6634 136 0.364 664-253-2I 16634 135 0.3I7 664-253-22 I6634 134 0.304 664-253-23 I6634 133 0.326 664-253-24 16634 73 1.037 664-253-25 16634 72 0.353 664-253-26 I6634 7I 0.302 664-253-27 16634 70 0.331 664·253-28 I6634 69 0.354 664-253-29 16634 68 0.582 664-253-30 16634 67 0.286 664-253-31 16634 66 0.230 664-253-32 16634 65 0.237 664-253-33 16634 64 0.244 664-253-34 16634 63 0.258 664-253-35 16634 62 1.014 664-253-36 16634 I 0.130 664-254-01 16634 57 0.693 664-254-02 16634 39 0.371 664-254-03 16634 38 0.245 664-254-04 16634 37 0.270 664-254-05 16634 36 0.292 664-254-06 I6634 43 0.339 664-254-07 16634 42 0.310 664-254-08 16634 41 0.368 664-254-09 16634 40 0.513 664-254-IO 16634 101 0.614 664-254-1I 16634 102 0.460 664-254-I2 16634 103 0.414 664-254-13 16634 104 0.388 664-254-14 16634 105 0.354 664-254-15 16634 106 0.328 K:ICLIENTS2\CAPO. USD\MELLO\whisphili\Database\1 0-11\APN Exhibit Page 3 of5 David Taussig & Associates, Inc. 6/6/2011 FY 2010-11 Assessor's Parcels within CFD No. 2005-1 of the Capistrano Unified School District (Whispering Hills) Owner [11 Assessor's Parcel Number Tract Lot Acreage 664-254-16 16634 107 0.342 664-254-17 16634 108 0.272 664-254-18 16634 109 0.265 664-254-19 16634 110 0.266 664-254-20 16634 Ill 0.279 664-254·21 16634 112 0.264 664-254-22 16634 113 0.305 664-254-23 16634 114 0.283 664-255-01 16634 82 0.320 664-255-02 16634 83 0.294 664-255-03 16634 84 0.280 664-255-04 16634 85 0.265 664-255-05 16634 86 0.276 664-255-06 16634 87 0.293 664-255-07 16634 88 0.316 664-255-08 16634 89 0.273 664-255-09 16634 58 0.594 664-255-10 16634 59 0.411 664-255-11 16634 60 0.394 664-255-12 16634 61 0.820 664-255-13 16634 90 0.587 664-255-14 16634 91 0.683 664-255-15 16634 92 0.409 664-255-16 16634 93 0.431 664-255-17 16634 94 0.429 664-255-18 16634 95 0.415 664-255-19 16634 96 0.388 664-255-20 16634 97 0.367 664-255-21 16634 98 0.362 664-255-22 16634 99 0.357 664-255-23 16634 100 0.383 664-255-24 16634 115 0.300 664-255-25 16634 116 0.265 664-255-26 16634 117 0.264 664-255-27 16634 118 0.267 664-255-28 16634 119 0.265 664-255-29 16634 120 0.269 664-255-30 16634 121 0.265 664-255-31 16634 122 0.264 664-255-32 16634 123 0.264 664-255-33 16634 124 0.264 664-255-34 16634 125 0.271 664-255-35 16634 126 0.282 K:\CLIENTS2\CAPO.USD\MELLO\whisphill\Database\ I 0-11 \APN Exhibit Page 4 of5 David Taussig & Associates, Inc. 6/61201 I FY 2010-11 Assessor's Parcels within CFD No. 2005-1 of the Capistrano Unified School District (Whispering Hills) Owner Ill Assessor's Parcel Number Tract !&! Acreage 664-255-36 16634 127 0.373 ' 664-255-37 16634 128 0.427 l 664-255-38 16634 129 0.308 i 664-255-39 16634 130 0.312 664-255-40 16634 131 0.301 664-255-41 16634 132 0.331 664-255-42 16634 J 1.190 Subtotal 270.736 No. ofParcels: 173 271.726 [I] Ownership based on 1/1/2010 Assessor's Roll provided by the County. K:\CLIENTS2\CAPO. USD\MELLO\whisphiii\Database\10-11 \APN Exhibit Page 5 of5 EXHIBITB ALTERNATIVE BOND SALE AMOUNTS AND PROCEEDS PREPARED BY DAVID TAUSSIG & ASSOCIATES B-1 TA X SP R E A D : 57 <e DA V I D TA U S S I G AN D AS S O C I A T E S , IN C . O( .. Ju n . . l l OZ . I O P M PR O P O S E D SP E C I A L TA X E S AN D BO N D E D IN D E B T E D N E S S CO M M U N I T Y FA C I L I T I E S DI S T R I C T NO . 20 0 5 - 1 (W H I S P E R I N G HI L L S ) CA P I S T R A N O UN I F I E D SC H O O L DI S T R I C T (2 . 0 % In c r e a s i n g De b r Se r v i c e an d Sp e c i a l T: n e s ) DRAFT Bo n d Pro c f ! e d s an d Pa y · A s - Y o u - G o sp l i t 60 / 4 0 to CU S D an d Ci t y . Fu n d In c r e m e n t a l Pa y m e n t of Pu r c h a s e Pr i c e re ; SJ H / H S / S i t e fir s t up to $6 mi l l i o n . LA N D Us E AS S Y M p D O N $ BU l O O U T PE R I O D {Y E A R S FR O M 20 1 1 ) f3 1 TO T A l R(S ! Q f f J D A ! UM I S (.( J CL A S S 1 CU S T O M HO M E S Cl A S S 2 RE S I O E N T I A L (> -4 , 6 0 0 SF ) CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 -41 , 6 0 0 SF ) CL A S S 4 RE S I D E N T I A L {3 , 9 0 1 -4,J O O Sf ) ClA S S 5 RE S I D E N T l A L (3 , 7 0 1 - 3,9 0 0 SF ) Cl A S S 6 RE S I D E N T I A L (3 , 4 0 1 • 3,7 0 0 Sf ) CL A S S 7 RE S I D E N T I A L . {2 , 9 0 1 -3,4 0 0 SF ) CL A S S 8 RE S I D E N T I A l ( = 2,9 0 0 SF ) Nm R E S I D E N l l A L . AC R E A G E AC R E A G E SU M M A R Y GR O S S AC R E A G E J1 l AS S Q C l A D Q N AN Q pu s u c PR O P E B D ' AC R E A G E NE T TA X A B l E AC R E A G E f4) CU S T O M LO T "" T TA X A B L E AC R E A G E J<J AU . OT H E R RE S I D E N T I A L PR O P E R T Y (4 ) sp E C J A l TA X Cjl A S $ CL A S S 1 CU S T O M HO M E S CL A S 5 2 RE S I D E N T I A I . . ( : . 4 , 6 0 0 S F ) CL A S S 3 RE S I D E N T I A l (.t , 3 0 1 • 4,6 0 0 SF ) CL A S S . 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As s u m e s av e r a g e co u p o n or Ci. O O Y . ls r bo n d so l d at cl o s i n g or 70 t h un i t an d ba s e d on co v e r a g e fr o m mi n i m u m of 7 0 pe r m i t t e d un i t s BO N D AS S U M p T I O N S AV E R A G E CO U P O N BO N D TE R M (Y E A R S ) CO S T S OF IS s t J / l N C E . / OtS C O U N T RE S E R V E FtJ N 0 CA P I T A L I Z E D IN T E R E S T ( 1 2 MO N T H S ) OT H E R AS S U M p T I O N S RE I N V E S T M E N T IN T E R E S T RA 1E DI S C O U N T RA T E FO R NP V AN A L Y S i S PR O P E R T Y tN F l A T I O N RA T E AD M I N I S T R A T I O N EX P E N S E IN f L A T I O N RA T E SP f C I A l , !A X AS S L J M P D O N S lf Y ?0 1 1 - 2 0 1 2 1 DE V E L O P E D EQ U I V A l E N T 0\\ ' E L U N G UN I T NO N - R E S I O E N 1 1 A L . AC R E UN D E V E L O P E D AC R E ~ 6.0 0 % 30 84 9 % 10 . D O - h 56 4 % BA C K UP TA X . 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TQ T A l FT R I 5 J TO T A L BO N D E D IN D E B T E D N E S S TO T A L BO N D RN A N C E Q fA Q I I D E S CU S O OT H E R FA c i U T I E S $0 0.0 0 0 0 " 1 . 1.0 5 2 7 " ' 1 . so 0.0 0 ( ) ( ) % 1. 0 5 3 2 % so 0.0 ( ) ( ) 0 % 1_ 1 ) 5 3 4 % so 0. 0 0 0 0 % 1. 0 5 3 4 % SO O.o c . < x 1 J . 1.0 5 3 6 % $0 0.0 0 0 0 " 1 . 1.0 5 3 5 % so 0.( ) ( ) ( ) ( ) ' 4 1. 0 5 3 7 % so 0.0 0 0 0 % 1. 0 5 3 8 % CU S O (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S t T E J CIT Y OF SA N JU A I I ' CA P t s T R A N O PU B U C FA C I U T I E S AN D FE E S CfT Y OF SA N JU / A H CA P I S T R A N O OT H E R OT Y FA C I U T I E S MA J O R CO N C L U S I O N S $2 0 , 0 5 5 , 0 0 0 ~ $4 , 0 2 2 , .. 5 $5 , 2 1 6 . 1 3 2 $4 , 7 9 1 . 2 i 3 $8 5 3 , 3 5 8 TO T A L DE B T SE R V I C E & AD M I N I S T R A T I O N $5 0 , 4 9 6 . 1 4 5 PA Y - A S · Y ' O U - G O FU N D S FO R IN C R E M E N T A l PA Y M E N T OF PU R C H A S E PR I C E RE : s.. M M S I S I T E $7 0 3 , 8 6 8 RfM A S N I N G PA Y - A S - Y O U .G O FU N D S TO CU S O $1 , 5 3 2 . l 8 ' 7 PA Y -A S - Y O U - G O FU N D S FO R OT Y OF SA N JU A H . CA P t ST R A N O PU S U C FA C I U T I E S AN O FE E S $7 Z 2 , . 2 0 5 PA Y - A S - Y o t i - G O FU N D S FO R CtT Y OF SA N JU A N CA P I S T R A N O OT H E R CfT Y FA C f U T I E S $M , 4 1 0 3 .. SC E U A N E O U S RE V E M J E S ($ . 1 , 5 4 U 4 S ) TO T A L NE T DE B r S E R \ r i C E $5 7 , o o t . U C ~ $1 3 , 9 0 2 $8 , 6 0 5 57 . 8 5 5 $7 , 6 3 8 $7 , 1 0 5 $6 , 9 8 1 $6 . 6 4 1 ss . 1 n E.X ! S T I N G fY 20 1 0 - 1 1 TA X BA T E S f2 J BA S E PR O P E R T Y TA X . RA T E SA N JU A N CA P I S T R A N O CIT Y GO BO N O S MIN D OE B T SE R V t C E CA P i s T R A N O UN J A E O SC H O O L DIS T R I C T SF I D NO 1 MO S Q U I T O , FIR E AN T AS S E S S M E N T VE C T O R CO N T R O L CK o \ R G E . 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I AX E S iSl ,008,6-U CU S O ( I N C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S J T E ) PA Y - A $ . ) ' 0 \ J : G O fU N D S FO R IN C R f M E H T A L PA Y M f N T Of PU R C H A S E f'RICE RF· SJHlHSISIJJ TO T A l NP V OF UN D E V E L O P E D SP E C I A L TA X E S (1 1 $ ) NP V O F PA Y - A S - Y O U - G O FO R IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PRICE RE: SJHIHSISITE NP V O F RE M A I N I N G PA Y - A S · V O U - G O FU N D S TO C l i S D (1 1 $ ) $5,296,132 .IZI!UH $6.000,000 $0 $600,0<8 $3.912,307 IC . n E N T S 2 \ C A P O . U S O I . I I E l l O r . < o h . , . . . . . I P f ' I * ' I T A X . $ P A E A 0 _ 5 7 (IU)0 .. ).12l CU S O CF D No . 20 0 5 - 1 (W h i s p e r i n g Hi l s ) : 57 Dr a f t - Un a u d i t e d Page2 FI S C A L YE A R - CO L l E C T I O N OF TA X E S 20 1 1 - 1 2 20 1 2 - 1 3 20 1 3 - 1 4 20 1 4 - 1 5 20 1 5 - 1 6 20 1 6 - 1 7 20 1 7 - 1 8 20 1 8 - 1 9 2019-20 2020-21 CA L E N D A R YE A R · PA Y M E N T S TO BO N D HO L D E R S 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 2019 2020 2021 I. CE O BO N P E P IN D E B T E D N E S S ·s E P 20 1 4 ' 'J A N 20 1 7 " CU S D OT H E R F AC I U T I E S so so $0 $0 $0 $4 , 9 2 2 , 5 6 5 $0 so so so IN C R E M E N T A L PA Y t . I E N T OF PU R C H A s E PR I C E RE : SJ H I H S / S I T E so so $3 , 3 6 7 , 1 7 9 $0 $0 $1 , 9 2 8 , 9 5 2 $0 so so so CIT Y OF SA N JU l i N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S $0 so $1 , 8 1 6 , 9 4 8 so $0 S2 , 9 7 4 , 3 4 5 so $0 so $0 OT H E R CIT Y FA C I L I T I E S $0 so $2 4 7 , 7 6 6 so -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - $0 $4 0 5 . 5 9 3 $0 $0 so $0 TO T A l FIN A N C E D PU B L I C FA C I L I T I E S $0 so $5 , 4 3 1 , 8 9 3 so $0 $1 0 , 2 3 1 , 4 5 5 $0 $0 $0 so TO T A L BO N D E D IN D E B T E D N E s S $0 so $7 , 1 6 0 , 0 0 0 so $0 $1 2 , 8 9 5 , 0 0 0 $0 $0 so so 11. Ae l ! Q B f i i Q N ·li ! I 1 1 L P I I : : i ! Z ~EB M I I S li~ 2! 1/ l l ' UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E 55 . 2 44 . 8 31 . 7 17 . 0 (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U l A T I V E NO N - R E S I D E N T I A L AC R E A G E 0.0 0.0 0. 0 0.0 0.0 0. 0 0. 0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 0 0 0 0 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L (> 4, 5 0 0 SF ) 0 2 5 a 11 11 11 11 11 11 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4,6 0 0 SF ) 0 6 13 21 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) 0 2 5 8 12 12 12 12 12 12 CL A S 5 5 RE S D E N T I A L (3 , 7 0 1 - 3,9 0 0 S F ) 3 8 15 23 27 27 27 27 27 27 CL A S 5 6 RE S I D E N T I A L (3 , 4 0 1 • 3,7 0 0 SF ) 4 8 13 18 20 20 20 20 20 20 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3,4 0 0 SF ) 3 9 16 24 30 30 30 30 30 30 ~~ ~ . . ! ! . ~ ~ ~ ~ ~ ~ ~ ~ - - 2 4 6 9 10 10 10 10 __ ..!£ 10 CU M U L A T I V E RE S I D E N T I A L UN I T S 12 39 73 11 1 15 5 15 5 15 5 155 155 155 • Cu s t o m ~ .. bn e d f4 ) 0 f l l w 1 l i .. . . . . . .. t M f th a n bu i l d i " l ! ' pe n n i t s Il l , ME L L O - B O O S SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S $0 so so $0 so $0 $0 $0 $0 so NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 so $0 $0 so $0 so $0 so $0 RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S CL A S 5 1 CU S T O M HO M E S $0 so $0 $0 so $2 3 0 , 2 3 4 $2 3 4 , 8 3 9 $2 3 9 , 5 3 6 $244,326 $249,213 CU \ 5 5 2 RE S I D E N T I A L (> 4,6 0 0 SF ) $0 $0 $1 7 , 9 0 5 $4 5 , 6 5 9 $7 4 , 5 1 5 $1 0 4 , 5 0 7 $1 0 6 , 5 9 8 $1 0 8 , 7 2 9 $110,904 $113,122 CL A S S 3 RE S R J E N T I A L (4 , 3 0 1 • 4. 6 0 0 SF ) so $0 $4 9 , 0 3 4 $1 0 8 , 3 6 5 $1 7 8 , 5 5 2 $2 6 0 , 1 7 6 $2 6 5 , 3 7 9 $2 7 0 , 6 8 7 $276,100 $281,623 CL A S S 4 RE S R J E N T I A L (3 , 9 0 1 • 4.3 0 0 SF ) $0 so $1 5 , 8 9 4 $4 0 , 5 3 0 $6 8 , 1 4 5 $1 0 1 , 2 0 2 $1 0 3 , 2 2 6 $1 0 5 , 2 9 0 $107,396 $109.- CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) $0 $2 1 , 7 4 1 $5 9 , 1 3 5 $1 1 3 , 0 9 6 $1 7 6 , 6 8 3 $2 1 1 , 7 9 8 $2 1 6 , 0 3 4 $2 2 0 , 3 5 5 $224.762 $229.257 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 S F ) $0 $2 8 , 4 8 3 $5 8 , 1 0 6 $9 6 , 3 1 0 $1 3 6 , 0 1 9 $1 5 4 , 1 5 5 $1 5 7 . 2 3 8 $1 6 0 , 3 8 3 $163,591 $168,863 CL A S 5 7 RE S I D E N T I A L (2 , 9 0 1 -3, 4 0 0 SF ) $0 $2 0 , 3 2 1 $6 2 , 1 8 3 $1 1 2 , 7 5 8 $1 7 2 , 5 2 0 $2 1 9 , 9 6 3 $2 2 4 , 3 6 3 $2 2 8 , 8 5 0 $233,427 $238,095 ~ - RE S I D ~ ~ J . ' : : . ~ ~ - - - - $0 $1 2 , 6 0 1 $2 5 , 7 0 6 $3 9 , 3 3 0 $6 0 , 1 7 5 $6 8 , 1 9 9 $6 9 , 5 6 3 $7 0 , 9 5 4 $72,373 $73,820 TO T A L SP E C I A L TA X E S $0 $1 3 , 1 4 6 $2 8 7 , 9 6 3 $5 5 6 , 0 4 9 $8 & 4 , 1 1 0 $1 , 3 5 0 , 2 3 4 $1 , 3 7 7 . 2 3 9 $1 , 4 0 4 , 7 1 4 $1,432,879 $1,461,537 IV SP E C I A L TA X BE O U ! R E M E N T NE W BO N D E D IN D E B T E D N E S S $0 $0 $7 , 1 6 0 , 0 0 0 $0 $0 $1 2 . 8 9 5 , 0 0 0 $0 $0 so $0 NE W RE S E R V E FU N D $0 so $7 1 6 , 0 0 0 $0 $0 $1 , 2 8 9 , 5 0 0 so so so $0 -- - - - - - - - - - - - - - - - - - - - - - AN N U A L DE B T SE R V I C E ·S E R I E S A $0 so $0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $4 3 4 , 3 3 2 $4 4 3 , 0 1 9 $4 5 1 , 8 7 9 $460,917 $470,135 AN N U A L DE B T SE R V I C E ·S E R I E S B $0 $0 $0 $0 so $5 1 5 , 8 0 0 $7 7 3 , 7 0 0 sn a , 1 o o $762,222 $797,867 - - - - -- - - - - - - - - - - - -- - - - -- - - -- - - - AN N U A L GR O S S DE B T SE R V I C E $0 $0 so $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $9 5 0 , 1 3 2 $1 , 2 1 6 , 7 1 9 $1 . 2 2 5 , 5 7 9 $1,243,139 $1,268,002 CF O AO M J N I S T R A T I O N $0 $5 0 , 0 0 0 $5 1 , 0 0 0 $5 2 . 0 2 0 $5 3 , 0 6 0 $5 4 , 1 2 2 $5 5 , 2 0 4 $5 6 , 3 0 8 $57,434 $58,583 RE S E R V E FU N D IN T E R E S T (S % Da i N O U E N C Y ) so $0 so so ($ 1 6 , 8 2 6 ) ($ 1 6 , 6 2 6 ) ($ 1 6 , 6 2 6 ) ($ 1 6 , 8 2 6 ) ($47,129) ($47,129) CA P I T A L I Z E D IN T E R E S T so $0 $0 ($ 4 2 9 , 6 0 0 ) $0 ($ 5 1 5 , 8 0 0 ) ($ 2 5 7 , 9 0 0 ) $0 $0 $0 PA Y - A S - YO U · GO FU N D S (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H / H S / S i l E ) $0 $1 9 , 8 8 8 $1 4 2 , 1 7 8 $3 0 2 , 4 1 7 $2 3 9 , 3 8 5 so $0 so $0 $0 PA Y - A S - Y O U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S AN D FE E S ) $0 $1 1 , 6 6 8 $8 3 , 4 1 1 $1 7 7 , 4 1 8 $1 4 0 , 4 3 9 $3 0 9 . 2 7 0 $0 so so $0 PA Y · A S · Y O U - G D FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CI T Y FA C I L I T I E S ) $0 $1 , 5 9 1 $1 1 , 3 7 4 $2 4 , 1 9 3 $1 9 , 1 5 1 $4 2 . 1 7 3 $0 so $0 so RE M A I N I N G PA Y - A S - Y O U - G O FU N D S TO CU S D $0 so so _ _ _ !S O ) _ _! ~ ~ • $5 2 7 , 1 6 4 __ $38 0 . ~ ~ $1 3 9 , 7 2 3 $179,435 ~~ -- - - - - - - - - - - - - - - - - - - - - - - - - - - NE T AN N U A L DE B T SE R V I C E $0 $6 3 , 1 4 6 $2 8 7 , 9 6 3 $5 5 6 , 0 4 9 $8 6 4 , 6 1 0 $1 , 3 5 0 , 2 3 4 $1 , 3 7 7 , 2 3 9 $1 , 4 0 4 , 7 1 4 $1,432,171 $1,461,537 CU M U L A T I V E BO N O PR O C E E D S I P A Y · A S - Y O l J . G O FO R $0 $1 9 , 8 8 8 $3 , 5 2 9 . 2 4 5 $3 , 8 3 1 , 6 6 2 $4 , 0 7 1 , 0 4 8 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6,000,000 $6,000,000 IN C R E M E N T A L PA Y M E N T OF PU \ C H A S E PR J C E RE : SJ H J H S J S I T E AN N U A L SU R P L U S / ( D E F I C I T ) $0 so $0 so $0 $0 so so $0 $0 CU M U L A T I V E SU R P L U S I ( D E F I C I T ) so so so $0 $0 so $0 $0 so $0 ·-D E B T S £ / M C E S C / f e D U J . . E MS U A J E S M A R C H I AN D S E / ' T E M B E ! t I! J O N D P A Y A t O . T S - CU S D CF D No . 20 0 5 - 1 M'J i s p e r i n g Hi l l s ) : 57 Dr a f t - Un a u d i t e d Page 3 FIS C A L YE A R · CO L L E C n O N OF TA X E S 20 1 1 - 1 2 20 1 2 - 1 3 20 1 3 - 1 4 20 1 4 - 1 5 20 1 5 - 1 6 20 1 6 - 1 7 20 1 7 - 1 8 20 1 8 - 1 9 2019-20 2020-21 CA L E N D A R YE A R - PA Y M E N T S TO BQ N D HO L D E R S 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 2019 2020 2021 Y. l! Y . I i B A ! O E l! l l l ! l l l ! A L Sf E C ! l ! L Ii\ 1 ( UN D E V E L O P E D PR O P E R T Y , PE R AC R E so so $0 so so $-0 $- 0 $-0 $-0 $-0 NO N - R E S I D E N n A L PR O P E R T Y , PE R AC R E so so so so so so $0 so so so RE S I D E N n A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S so so so so so S1 5 , 3 4 9 S1 5 , 6 5 6 S1 5 , 9 6 9 S16,288 $16,614 CL A S S 2 RE S I D E N T I A L (> 4,6 0 0 SF ) so so S8 , 9 5 3 $9 , 1 3 2 S9 , 3 1 4 $9 , 5 0 1 S9 , 6 9 1 S9 , 8 8 4 S10,082 $10,294 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4, 6 0 0 SF ) so so $8 , 1 7 2 $9 , 3 3 6 $8 , 5 0 2 $9 , 6 7 3 $8 , 9 4 6 $9 , 0 2 3 S9.203 $9,387 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4,3 0 0 SF ) $0 so S7 , 9 4 7 $9 , 1 0 6 $8 , 2 6 8 $9 , 4 3 3 $9 , 6 0 2 $8 , 7 7 4 $9,950 $9,129 CL A S S 5 RE S I D E N T I A L (3 , 70 1 - 3, 9 0 0 SF ) so S7 , 2 4 7 $7 , 3 9 2 $7 . 5 4 0 S7 . 6 9 1 S7 , 8 4 4 $8 , 0 0 1 $8 , 1 6 1 $8,325 $8,491 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 · 3,7 0 0 SF ) so S7 . 1 2 1 $7 , 2 6 3 $7 . 4 0 8 $7 , 5 5 7 S7 , 7 0 8 S7 , 8 6 2 $8 , 0 1 9 $9,180 $8,343 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3,4 0 0 SF ) so $6 , 7 7 4 $6 , 9 0 9 $7 , 0 4 7 S7 , 1 8 8 $7 , 3 3 2 $7 , 4 7 9 $7 , 6 2 6 S7,781 $7,937 CL A S S 8 RE S I D E N T I A L ( < = 2.9 0 0 SF ) so $6 , 3 0 0 $6 , 4 2 7 $6 , 5 5 5 $6 , 6 8 6 $6 . 8 2 0 $6 , 9 5 6 $7 , 0 9 5 $7,237 $7,382 VI. MA X I M U M SP ! ; ; C I A L TA X E S UN D E V E L O P E D PR O P E R T Y S1 , 2 8 5 , 6 8 2 $1 , 2 0 9 , 8 5 0 $1 , 0 0 1 , 0 4 5 $7 2 1 , 7 8 8 $3 9 5 , 0 4 7 (S O ) (S O ) (SO) (SO) ($0) NO N - R E S I D E N n A L PR O P E R T Y $0 so so so $0 so $0 $0 so so RE S I D E N n A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S so so so so $0 $2 3 0 , 2 3 4 $ 2 3 4 , 8 3 9 $2 3 9 , 5 3 6 $2o4o4,326 $249.213 CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) so so $1 7 , 9 0 5 $< 5 , 6 5 9 S7 4 , 5 1 5 $1 0 4 , 5 0 7 $1 0 6 , 5 9 8 S1 0 8 , 7 2 9 $110,904 $113,122 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 -4,6 0 0 SF ) $0 so $> 4 9 , 0 3 4 S1 0 8 , 3 6 S $1 7 8 , 5 5 2 $2 6 0 , 1 7 6 S2 6 5 , 3 7 9 $2 7 0 , 6 8 7 $276,100 $281,623 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) so so S1 5 , 8 9 4 $4 0 , 5 3 0 $6 6 , 1 4 5 S1 0 1 , 2 0 2 S1 0 3 , 2 2 6 $1 0 5 , 2 9 0 S107,396 S109,544 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 -3,9 0 0 SF ) so S2 1 , 7 4 1 S5 9 , 1 3 5 $1 1 3 , 0 9 6 $1 7 6 , 8 8 3 S2 1 1 , 7 9 8 S2 1 6 , 0 3 4 s2 2 0 , 3 5 5 $224,762 $229,257 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3,7 0 0 SF ) so S2 8 , 4 8 3 S5 8 , 1 0 6 $9 6 , 3 1 0 $1 3 6 , 0 1 9 $1 5 4 , 1 5 5 $1 5 7 . 2 3 8 S1 6 0 , 3 8 3 S163,591 $166,1363 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 . 3,4 0 0 SF ) so $2 0 , 3 2 1 S6 2 , 1 8 3 $1 1 2 , 7 5 8 S1 7 2 , 5 2 0 S2 1 9 , 9 6 3 $2 2 4 , 3 6 3 $2 2 8 , 8 5 0 $233,427 $238,095 CL A S S 8 RE S I D E N T I A L (< - 2. 9 0 0 SF ) so $1 2 , 6 0 1 $2 5 , 7 0 6 $3 9 , 3 3 0 $6 0 , 1 7 5 $6 8 , 1 9 9 $6 9 , 5 6 3 S7 0 , 9 5 4 S72,373 $73,820 - - - - - - - - - - - - - - - - - - - - - - - - - · - - - - - - - - - - - - - ------- TO T A L MA X I M U M SP E C I A L TA X E S S1 , 2 8 5 , 6 6 2 $1 , 2 9 2 , 9 9 6 $1 , 2 8 9 , 0 0 8 $1 , 2 7 7 , 8 3 7 $1 , 2 5 9 , 8 5 7 $1 , 3 5 0 , 2 3 4 $1 , 3 7 7 , 2 3 9 $1 , 4 0 4 , 7 1 4 $1,432,879 $1,461,537 \I l l DE B T S! ; B \ I I C I ; ; CO V E R A G E GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T S • NA NA NA 11 0 . 0 7 % 11 2 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 113-27% 113.27% GR O S S DE B T SE R V I C E CO V E R A G E • NA NA NA NA NA NA NA 11 0 . 0 3 % 110.64% 110.64% NE T DE B T SE R V I C E CO V E R A G E - NA NA NA NA NA NA NA 11 1 . 4 0 % 114.43% 114.36% • AfA A I M U M SP E C I A L T.. u E Y U:S S CF D A U I I N J S T R A n O N . DiV I D E D BY GR G L S " DE ! l T SE R V I C E .. A£ 0 . 1 J . I U A t SP E C I A L TA . \ l : S LE S S CF D . W . W N I S T R A T J O N PL U S RE S I : J W E EA R N I N G S . DW 1 D £ D BY GR O S S /)f £ J J T SE R I ' J C £ CU S D CF D No . 20 0 5 - 1 (W l i s p e r i n g Hil l s ) : 57 Dr a f t -Un a u d i t e d Page4 FI S C A L YE A R -CO L L E C T I O N OF TA X E S 20 2 1 - 2 2 20 2 2 - 2 3 20 2 3 - 2 4 20 2 4 - 2 5 20 2 5 - 2 6 20 2 6 - 2 7 20 2 7 - 2 8 20 2 8 - 2 9 2029-30 2030-.l1 CA I . E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 2029 2030 2031 I. CE O BO N D E D IN D E B T E D N E S S CU S D OT H E R FA C I L I T I E S so $0 $0 $0 $0 $0 $0 $0 $0 $0 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E so $0 $0 $0 $0 $0 $0 $0 $0 $0 CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S $0 $0 $0 $0 so $0 so $0 $0 $0 OT H E R CIT Y FA C I L I T I E S $0 $0 $0 $0 so $0 $0 $0 $0 $0 - - - - - - - - - - - - - - - - TO T A L FIN A N C E D PU B L I C FA C I L I T I E S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TO T A L BO N D E D IN D E B T E D N E S S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 II AE I S Q B P T I O N - EI! . ! I L Q I ~ G ~E B M I I S (U !l [ ll l l ' UN D E I I a O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U L A T I V E NO N - R E S I D E N T I A L AC R E A G E 0.0 0.0 0. 0 0. 0 0. 0 0.0 0.0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y ClA S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 Cl A S S 2 RE S I D E N T I A L ( > 4, 6 0 0 SF ) 11 11 11 11 11 11 11 11 11 11 Cl A S S 3 RE S I D E N T I A L (4 . 3 0 1 -4.5 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) 27 27 27 27 27 27 27 27 27 27 CL A S S 5 RE S I D E N T I A L (3 , 4 0 1 - 3,7 0 0 SF ) 20 20 20 20 20 20 20 20 20 20 Ct A S S 7 RE S I D E N T I A L (2 ,9 0 1 -3.4 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 8 RE S I D E N T I A L ( < = 2, 9 0 0 SF ) 10 10 10 10 10 _ _ _ .!.~ __ _ _ .!£ _ _ _ _.!£ ___ .!£ ___ __!.~ -- - CU M U L A TI\ I E RE S I D E N T I A L UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 15 5 155 155 155 • cu . t o m h o m e • t . M d ~ l l i l ' l d M I I M , r a t M r i N o b u i k f ~ n g ' * ' " i t s . Il l ME L L C > - B O Q S SP E C I I I L TA X E S UN D E I I a O P E D PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 $0 so so $0 $0 $0 RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S $2 5 4 , 1 9 7 $2 5 9 , 2 8 1 $2 6 4 , 4 5 7 $2 5 9 , 7 5 5 $2 7 5 , 1 5 1 $2 8 0 , 5 5 4 $2 8 5 , 2 5 7 $2 9 1 , 9 9 3 $297.833 $303,789 CL A S S 2 RE S I D E N T I A L (> 4.6 0 0 SF ) $1 1 5 , 3 8 5 $1 1 7 , 5 9 2 $1 2 0 , 0 4 6 $1 2 2 , 4 4 7 $1 2 4 , 8 9 5 $1 2 7 , 3 9 4 $1 2 9 , 9 4 2 $1 3 2 , 5 4 1 $135,191 $137,895 CI . A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4, 5 0 0 SF ) $2 8 7 . 2 5 5 $2 9 3 , 0 0 0 $2 9 8 , 8 6 0 $3 0 4 , 8 3 7 $3 1 0 , 9 3 4 $3 1 7 , 1 5 3 $3 2 3 , 4 9 5 $3 2 9 , 9 5 6 $336,555 $343,296 CL A S 5 4 RE S I D E N T I A L (3 . 9 0 1 -4, 3 0 0 SF ) $1 1 1 . 7 3 5 $1 1 3 , 9 5 9 $1 1 5 . 2 4 9 $1 1 8 , 5 7 4 $1 2 0 , 9 4 5 $1 2 3 , 3 6 4 $1 2 5 , 8 3 1 $1 2 8 , 3 4 8 $130,915 $133,533 CL A S 5 5 RE S I D E N T I A L (3 . 70 1 - 3, 9 0 0 SF ) $2 3 3 , 8 4 2 $2 3 8 , 5 1 9 $2 4 3 . 2 8 9 $2 4 8 , 1 5 5 $2 5 3 , 1 1 8 $2 5 8 , 1 8 1 $2 6 3 , 3 4 4 $2 6 8 , 6 1 1 $273,983 $279,463 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 SF ) $1 7 0 . 2 0 0 $1 7 3 , 6 0 4 s1 n . 0 1 6 $1 8 0 , 5 1 8 $1 8 4 , 2 3 0 S1 8 7 , 9 1 5 $1 9 1 , 6 7 3 $1 9 5 , 5 0 5 $199,415 $203,405 CL A S S 7 RE S I D E N T I A L (2 . 9 0 1 - 3, 4 0 0 SF ) $2 4 2 , 8 5 7 $2 4 7 , 7 1 5 $2 5 2 , 5 5 9 S2 5 7 , m $2 5 2 , 8 7 7 $2 5 8 , 1 3 4 $2 7 3 , 4 9 7 $2 7 8 , 9 5 7 $284,545 $290,237 CL A S S 8 RE S I D E N T I A L ( < = 2. 9 0 0 SF ) $7 5 , 2 9 7 S7 5 , 8 0 3 $7 8 , 3 3 9 $7 9 , 9 0 5 $8 1 , 5 0 4 $8 3 , 1 3 4 $8 4 , 7 9 6 $8 5 , 4 9 2 $88.222 $89,987 - - - - - - - - - - - - - - - TO T A L SP E C I A L TA X E S $1 , 4 9 0 , 7 6 8 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 $1 , 5 8 2 , 0 1 5 $1 , 8 1 3 , 8 5 5 S1 , 6 4 5 , 9 2 8 $1 , 5 7 8 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,781,606 IV SP E C I A L TA X RE Q U I B E M E N T NE W BO N D E D IN D E B T E D N E S S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 NE W RE S E R V E FU N D $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 -- -- - - - - - - -- - - - IW N U A L DE f l T SE R V I C E - SE R I E S A $4 7 9 , 5 3 8 $4 8 9 , 1 2 9 $4 9 8 , 9 1 1 $5 0 8 , 8 8 9 $5 1 9 , 0 6 7 $5 2 9 , 4 4 8 $5 4 0 , 0 3 7 $5 5 0 , 8 3 8 $551,855 $573,092 AN N U A L DE f l T SE R V I C E -SE R I E S B $8 1 3 , 8 2 4 $8 3 0 , 1 0 1 $8 4 6 , 7 0 3 $8 6 3 , 6 3 7 $8 8 0 , 9 1 0 $8 9 8 , 5 2 8 $9 1 6 , 4 9 8 $5 3 4 , 8 2 8 $953,525 $972,595 -- - - - - - - - - - - - - - - - - - - - - -- - - - -- - - IW N U A L GR O S S DE B T SE R V I C E $1 . 2 9 3 . 3 6 2 $1 , 3 1 9 . 2 2 9 $1 . 3 4 5 . 5 1 4 $1 , 3 7 2 , 5 2 5 $1 , 3 9 9 . 9 7 7 S1 , 4 2 7 . 9 7 6 $1 , 4 5 6 , 5 3 6 $1 , 4 8 5 , 6 < ; 6 $1,515,380 $1,545,687 CF O AD M I N I S T R A T I O N S5 9 , 7 5 5 $5 0 , 9 5 0 $6 2 , 1 6 9 $5 3 , 4 1 2 $5 4 , 6 8 0 $5 5 , 9 7 4 $5 7 . 2 9 3 $6 8 , 6 3 9 $70,012 $71,412 RE S E R V E FU N D IN T E R E S T (6 % DE U N Q U E N C Y ) ($ 4 7 , 12 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 12 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 129) ($47,129) ($47,129) CA P I T A L I Z E D IN T E R E S T $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S (I N C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E ) so $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S AN D FE E S ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y - A S - YO U - G O F~ D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CI T Y FA C I L I T I E S ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RE M A I N I N G PA Y - A S - Y O U - G O FU N D S TO CU S O ~. 7 8 0 _! ! _ ! ! ~ $1 9 0 , 3 4 1 _ _! 1 9 3 , 2 0 6 _! ~ 1 2 7 $1 9 9 , 1 0 7 $2 0 2 , 1 4 7 ~ -~ $211,535 NE T AN N U A L DE B T SE R V I C E $1 , 4 9 0 , 7 6 8 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 S1 , 5 8 2 P 1 5 $1 , 6 1 3 , 8 5 5 $1 , 6 4 5 , 9 2 8 $1 , 6 7 8 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,781,606 CU M U L A T I V E BO N D PR O C E E O S I P A Y - A S - Y O U - G O FO R $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $8 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $5,000,000 $5,000,000 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E AN N U A L SU R P L U S I ( D E F I C I T ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CU M U L A T I V E SU R P U J S I ( O E F I C I T J $0 $0 $0 $0 $0 so $0 $0 $0 $0 -- DE J 1 T S £ 1 t 1 1 C £ S C I I E ! > U L E . A S S U M f i S A/A R C H I AN D S £ P T E J J B E R 18 0 N D I ' A f M E N T S - CU S O CF O No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 57 Dr a f t - Un a u d i t e d Page 5 RS C A L YE A R - CO L l E C T I O N OF TA X E S 20 2 1 - 2 2 20 2 2 - 2 3 20 2 3 - 2 4 20 2 4 - 2 5 20 2 5 - 2 6 20 2 6 - 2 7 20 2 7 - 2 8 20 2 8 - 2 9 2029-30 2030-31 CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 2029 2030 2031 ll. ll l / . i ; M ! > i ; 1\ t ! N I I l i L ~Ei; ! : < I I I L IM UN D E V E L O P E D PR O P E R T Y , PE R AC R E $- 0 $- 0 $- 0 $- 0 $- 0 $- 0 $-0 $-0 $-0 $-0 NO N - R E S i l E N T I A L PR O P E R T Y , PE R AC R E $0 so $0 so $0 $0 $0 so $0 $0 RE S I D E N n A L PR O P E R T Y , PE R UN I T Cl A S S 1 CU S T O M HO M E S $1 6 , 9 4 6 $1 7 . 2 8 5 $1 7 , 6 3 1 $1 7 , 9 8 4 $1 8 , 3 4 3 $1 8 , 7 1 0 $1 9 . 0 8 4 $1 9 , 4 6 6 $19,856 $20,253 Cl A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) $1 0 , 4 9 0 $1 0 , 5 9 9 $1 0 , 9 1 3 $1 1 , 1 3 2 $1 1 , 3 5 4 $1 1 , 5 8 1 $1 1 , 8 1 3 $1 2 , 0 4 9 $12,290 $12,536 Cl A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4,5 0 0 SF ) $9 , 5 7 5 $9 , 7 5 7 $9 , 9 5 2 $1 0 , 1 5 1 $1 0 , 3 6 4 $1 0 , 5 7 2 $1 0 , 7 8 3 $1 0 , 9 9 9 $11,219 $11,443 Cl A S S 4 RE S I D E N T I A L (3 . 9 0 1 - 4,3 0 0 SF ) $9 , 3 1 1 $9 , 4 9 7 $9 , 6 8 7 $9 , 8 8 1 $1 0 , 0 7 9 $1 0 , 2 8 0 $1 0 , 4 6 6 $1 0 , 5 9 6 $10,910 $11,126 Cl A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) $8 , 6 6 1 $8 , 8 3 4 $9 , 0 1 1 $9 , 1 9 1 $9 , 3 7 5 $9 , 5 5 2 $9 , 7 5 3 $9 , 9 4 9 $10,146 $10,350 Cl A S S 6 RE S I D E N T I A L (3 , 4 0 1 -3,7 0 0 SF ) $8 , 5 1 0 $8 , 6 6 0 $8 , 8 5 4 $9 , 0 3 1 $9 . 2 1 1 $9 , 3 9 6 $9 . 5 8 4 $9 . 7 7 5 $9,971 $10,170 Cl A S S 7 RE s i D E N T I A L (2 , 9 0 1 - 3,4 0 0 SF ) $8 , 0 9 5 $8 , 2 5 7 $8 . 4 2 2 $8 , 5 9 1 $8 , 7 6 3 $8 , 8 3 6 $9 , 1 1 7 $9 , 2 9 9 $9,485 $9,575 Cl A S S 8 RE S I D E N T I A L ( < = 2, 9 0 0 SF ) S7 , 5 3 0 $7 , 6 6 0 $7 , 8 3 4 $7 , 9 9 1 $8 , 1 5 0 $8 , 3 1 3 $8 , 4 8 0 $8 , 6 4 9 $8,822 $8,999 VI MA X I M U M SE E C I A L II \ X E S UN D E V E L O P E D PR O P E R T Y ($ 0 ) ($ 0 ) (S O ) (S O ) (S O ) (S O ) (S O ) ($0) ($0) (SO) NO N - R E S I D E N T I A L PR O P E R T Y $0 $0 so so $0 so $0 $0 $0 so RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S $2 5 4 , 1 9 7 $2 5 9 , 2 8 1 $2 5 4 , 4 5 7 S2 5 9 , 7 5 6 $2 7 5 , 1 5 1 $2 8 0 , 6 5 4 $2 8 5 , 2 5 7 $2 9 1 , 9 9 3 $297,833 $303,789 Cl A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) $1 1 5 , 3 8 5 $1 1 7 , 6 9 2 $1 2 0 , 0 4 6 $1 2 2 , 4 4 7 $1 2 4 , 6 9 6 $1 2 7 , 3 9 4 $1 2 9 , 9 4 2 $1 3 2 , 5 4 1 $135,191 $137,695 Cl A S S 3 RE S I D E N T I A L (4 , 3 0 1 -4 , 5 0 0 Sf ) $2 8 7 . 2 5 5 $2 9 3 , 0 0 0 $2 9 8 , 8 5 0 $3 0 4 , 8 3 7 $3 1 0 , 9 3 4 $3 1 7 , 1 5 3 $3 2 3 , 4 9 6 $3 2 9 , 9 6 5 $336,565 $343,295 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) $1 1 1 , 7 3 5 $1 1 3 , 9 6 9 $1 1 5 , 2 4 9 $1 1 8 , 5 7 4 $1 2 0 , 9 4 5 $1 2 3 , 3 6 4 $1 2 5 , 8 3 1 $1 2 8 , 3 4 8 $130,915 $133,533 Cl A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3, 9 0 0 SF ) $2 3 3 , 8 4 2 $2 3 8 , 5 1 9 $2 4 3 , 2 8 9 $2 4 8 , 1 5 5 $2 5 3 , 1 1 8 $2 5 8 , 1 8 1 $2 6 3 , 3 4 4 $2 6 6 , 6 1 1 $273,983 $279,453 Cl A S S 5 RE S I D E N T I A L (3 . 4 0 1 -3,7 0 0 SF ) $1 7 0 . 2 0 0 $1 7 3 , 6 0 4 $1 7 7 , 0 7 6 $1 8 0 , 6 1 8 $1 8 4 . 2 3 0 $1 8 7 , 9 1 5 $1 9 1 , 6 7 3 $1 9 5 , 5 0 6 $199,416 $203,405 Cl A S S 7 RE S I D E N T I A L (2 . 9 0 1 -3,4 0 0 Sf ) $2 4 2 . 8 5 7 $ 2 4 7 , 7 1 5 $2 5 2 , 6 6 9 $2 5 7 , 7 2 2 $2 5 2 , 8 7 7 $2 6 8 , 1 3 4 $2 7 3 , 4 9 7 $2 7 8 , 9 6 7 $284,546 $290,237 Cl A S S 8 RE S I D E N T I A L ( < = 2. 9 0 0 SF ) $7 5 , 2 9 7 $7 6 . 8 0 3 $7 8 , 3 3 9 $7 9 , 9 0 5 $8 1 , 5 0 4 $8 3 , 1 3 4 $8 4 , 7 9 6 $8 8 , 4 9 2 $88,222 $89,987 -- - - - - - - - - - - - - - - - - - - - - - ·- - - · -- - - - - - - - · -- - - - - - - · - - - - ---- TO T A L MA X I M U M SP E C I A L TA X E S $1 , 4 9 0 , 7 6 8 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 $1 , 5 8 2 , 0 1 5 $1 , 6 1 3 , 6 5 5 $1 , 8 4 5 , 9 2 8 $1 , 6 7 8 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,781,606 VII DE B I S E B V I C E CO Y E B A G E GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T S ' 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 113.27% 113.27% GR O S S DE B T SE R V I C E CO V E R A G E • 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 5 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 110.64% 110.64% NE T DE B T SE R V I C E CO V E R A G E - 11 4 . 2 9 % 11 4 . 2 2 % 11 4 . 1 5 % 11 4 . 0 8 % 11 4 . 0 1 % 11 3 . 9 4 % 11 3 . 8 8 % 11 3 . 8 2 % 113.75% 113.69% • AtA X J A I V M SP O C I A L T.. w ; ; s ' WS CF D A D U ! N J S T R A 1 1 0 N . DIV I D E D BY GR O S S DE B T SE R V I C E •• MA X I M U M SP E C I A L T... . t . X E S ' lE i S CF D A D . I J J N I S T M T 1 0 N PL U S RE S E ! W E F.A R N / J J G S , DIJ I I D E D BY GR O S S D£ / J T SE R V I C E -·~ · r· CU S D CF D No . 20 0 5 - 1 {'M l i s p e r i n g Hil l s ) : 57 Dra f t - Un a u d i t e d PageS FIS C A L YE A R - CO L L E C T I O N OF TA X E S 20 3 1 - 3 2 20 3 2 - 3 3 20 3 3 - 3 4 20 3 4 . 3 5 20 3 5 - 3 6 20 3 6 - 3 7 20 3 7 - 3 8 20 3 8 - 3 9 2039-40 2040-41 CA L E N D A R YE A R - P A Y M E N T S TO BO N D HO L D E R S 20 3 2 20 3 3 20 3 4 20 3 5 20 3 6 20 3 7 20 3 8 2039 2040 2041 !. CF P BO N P E P IN P E B T E P N E S S CU S D OT H E R FA C I L I T E S so so $0 so $0 so so so $0 so IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E so $0 $0 so so so so so $0 so CI T Y OF SA N JU A N CA P I S T R A N O PU B L I C F AC I U T I E S & FE E S so so $0 so so so so so $0 so OT H E R CIT Y FA C I L I T I E S so so $0 so - - - - - - - - - - - - - - - - - - so so $0 $0 $0 $0 TO T A L AN A N C E D PU B L I C FA C I L I T I E S so $0 $0 so so so $0 so $0 $0 TO T A L BO N D E D IN D E B T E D N E S S so $0 $0 so so $0 so so so $0 II III : ! S Q B E I I Q ~ -I:!! . ! I L P I ~ ! Z Ei ; B M I I S !n !! f 11 1 1 ' UN D E V E L O P E D PR O P E R T Y RE M A I N I N G IJ N O E \ I E L O P E O AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U l A T I V E NO N - R E S I D E N T I A L AC R E A G E 0.0 0. 0 0.0 0.0 0. 0 0.0 0.0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) 11 11 11 11 11 11 11 11 11 11 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 • 4, 6 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4, 3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3, 9 0 0 SF ) 27 27 27 27 27 27 27 27 27 27 CL A S S & RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 S F ) 20 20 20 20 20 20 20 20 20 20 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 • 3, 4 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 ~~ - - - R E S I D ~ ~ i ~ ! ' ! ! ' ~ - - 10 10 10 10 10 10 10 10 10 ___ ..!£ CU M U L A T I V E RE S I D E N T I A L UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 15 5 155 155 155 • C1J S i o m h:l m e • IM I M d ~~~ b i n d Alt l , rat h e r u. n bu i l d i ! l g p« m i l • Ill . ME L L O - R Q Q S SE E C ! I I L MX E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S so $0 $0 $0 so $0 so $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S so $0 $0 $0 so $0 so $0 so $0 RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S $3 0 9 , 8 6 5 S3 1 6 , 0 6 2 $3 2 2 , 3 8 4 $3 2 8 , 8 3 1 $3 3 5 , 4 0 8 $3 4 2 , 1 1 6 S3 4 8 , 9 5 8 $3 6 5 , 9 3 8 $363,056 $370,317 CL A S S 2 RE S I D E N T I A L ( > 4, 6 0 0 SF ) $1 4 0 , 6 5 3 $1 4 3 , 4 6 6 $1 4 6 , 3 3 6 $1 4 9 , 2 6 2 S1 5 2 , 2 4 8 $1 5 5 , 2 9 2 $1 5 8 , 3 9 8 $1 6 1 , 5 6 6 $164,798 S168,094 CL A S S 3 RE S I O E N T I A L (4 , 3 0 1 • 4,6 0 0 SF ) $3 5 0 , 1 6 2 S3 5 7 , 16 5 $3 6 4 , 3 0 9 $3 7 1 , 5 9 5 S3 7 9 , 0 2 7 $3 8 6 , 6 0 7 $3 9 4 , 3 3 9 $4 0 2 , 2 2 6 $410,271 $418,476 CL A S S 4 RE S I O E N T I A L (3 , 9 0 1 • 4, 3 0 0 SF ) $1 3 6 , 2 0 4 $1 3 8 , 9 2 8 $1 4 1 , 7 0 7 $1 4 4 , 5 4 1 $1 4 7 , 4 3 2 $1 5 0 . 3 8 0 $1 5 3 , 3 8 8 $1 5 6 , < 1 5 6 $159,585 S162,71S CL A S S 5 RE S I D E N T I A L (3 , 70 1 - 3, 9 0 0 SF ) $2 8 5 , 0 5 2 $2 9 0 , 7 5 3 $2 9 6 , 5 6 8 $3 0 2 , 5 0 0 $3 0 8 , 5 5 0 $3 1 4 , 7 2 1 $3 2 1 . 0 1 5 $3 2 7 , 4 3 5 $333,984 S340,664 CL A S S & RE S I O E N T I A L ( 3 , 4 0 1 - 3,7 0 0 S F ) $2 0 7 , 4 7 3 $2 1 1 , 6 2 2 $2 1 5 , 8 5 5 $2 2 0 , 1 7 2 S2 2 4 , 5 7 5 $2 2 9 , 0 6 7 $2 3 3 . 6 4 8 $2 3 8 , 3 2 1 $243,088 $247,949 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3,4 0 0 S F ) $2 9 6 , 0 4 2 $3 0 1 , 9 6 3 $3 0 8 , 0 0 2 $3 1 4 , 1 6 2 S3 2 0 , 4 4 5 $3 2 6 , 8 5 4 $3 3 3 , 3 9 1 $3 4 0 , 0 5 9 $346,860 $353,797 CL A S S 8 RE S I D E N T I A L (" " 2,9 0 0 SF ) $9 1 , 7 8 6 S9 3 , 6 2 2 $9 5 , 4 9 4 S9 7 , 4 0 4 S9 9 , 3 5 2 $1 0 1 , 3 3 9 S1 0 3 , 3 6 6 S1 0 5 , 4 3 4 $107,542 $109,693 - - - - - - - - - - - - - - - - - - TO T A L SP E C I A L TA X E S $1 , 8 1 7 , 2 3 8 $1 , 8 5 3 , 5 6 2 $1 , 1 9 0 , 6 5 4 $1 , 9 2 8 , 4 6 7 $1 , 9 6 7 , 0 3 6 sz . O O & . • n $2 , 0 4 6 , 5 0 5 $2 , 0 8 7 , 4 3 5 $2,129,114 $2,171,767 IV SE E C I I I L TA X RE O I J ! R E M E N T NE W BO N D E D IN D E B T E D N E S S so $0 so so so so $0 so so $0 NE W RE S E R V E FU N D so so $0 so so so so so so so - - - - - - --- AN N U A L DE B T SE R \ I I C E -SE R I E S A S5 8 4 , 5 5 4 $5 9 6 , 2 4 5 $6 0 8 , 1 7 0 $6 2 0 , 3 3 3 $6 3 2 , 7 4 0 $6 4 5 , 3 9 5 $6 5 8 , 3 0 3 $6 7 1 , 4 6 9 $664,898 $698,596 AN N U A L DE B T SE R V I C E - SE R I E S 8 $9 9 2 , 0 4 7 S1 , 0 1 1 , 8 8 8 $1 , 0 3 2 , 1 2 6 S1 , 0 5 2 , 7 6 8 $1 , 0 7 3 , 8 2 4 S1 , 0 9 5 , 3 0 0 $1 , 1 1 7 , 2 0 6 $1 , 1 3 9 , 5 5 0 S1,162,341 $1,185,568 - - - - - - - - - - - - - - - - - - - · AN N U A L GR O S S DE B T SE R V I C E S1 , 5 7 6 , 6 0 1 S1 , 6 0 8 , 13 3 S1 , 6 4 0 , 2 9 6 $1 , 6 7 3 . 1 0 2 S1 , 7 0 6 , 5 6 4 $1 , 7 4 0 , 6 9 5 s1 . n 5 . 5 0 9 $1 , 8 1 1 , 0 1 9 S1.647,240 $1,884,164 CF D AO M N I S T R A T I O N $7 2 . 8 4 1 $7 4 . 2 9 7 S7 5 , 7 8 3 S7 7 . 2 9 9 S7 8 , 6 4 5 $8 0 , 4 2 2 $8 2 , 0 3 0 $8 3 , 6 7 1 $85,344 $87,051 RE S E R V E FU N D IN T E R E S T (6 % DE L I N Q U E N C Y ) ($ 4 7 . 1 2 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 . 1 2 9 ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 1 2 9 ) ( $ 4 7 , 1 2 9 ) ($ 4 7 , 1 2 9 ) ( $ 4 7 , 1 2 9 ) ($47,129) ($47,129) CA P I T A U Z E D IN T E R E S T $0 $0 so so so $0 so so $0 $0 PA Y - A S - Y O U - G O FU N D S (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E ) so $0 so $0 so so $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S AN D FE E S ) so $0 $0 so so $0 so so $0 so PA Y - A S - Y O U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CIT Y FA C I U T I E S ) $0 so so so so so so so so $0 RE M A I N I N G PA Y - A S - Y O U - G O FU N D S TO CU S D -$ 2 1 4 , 9 2 5 ~, 2 8 1 . E ~ ~ $2 2 8 . ~ $2 3 2 3 ~ - ~ $2 3 9 , 8 7 4 S243.n9 $247.661 NE T AN N U A L DE B T SE R V I C E $1 , 8 1 7 , 2 3 8 $1 , 1 5 3 . 5 8 2 $1 , 8 9 0 , 8 5 4 $1 , 9 2 1 . 4 6 7 S1 , 9 6 7 , 0 3 6 $2 , 0 0 6 , 3 7 7 $2 , 0 . 0 , 5 0 5 $2 , 0 8 7 , 4 3 5 $2,121,184 $2,171,767 CU M U L A T I V E BO N O PR O C E E D S / P A Y - A S - Y O U - G O FO R $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 . 0 0 0 $6 , 0 0 0 , 0 0 0 $8 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $8 , 0 0 0 , 0 0 0 $6,000,000 $8,000,000 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E AN N U A L SU R P L U S / ( O E F I C I 1 ) so $0 so $0 $0 $0 so so $0 $0 CU M U L A T I V E SU R P L U S I ( D E F I C 1 1 ) $0 so so $0 $0 so so $0 so $0 •• D£ B r S £ 1 W I C E S C H £ D U l £ AS S U M E S A t A P D f JA N ( ) SE P T E M B E R I BO . . Y D I ' A Y A I E J I T S - CU S D CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 57 Dr a f t - Un a u d ~ e d Page 7 FIS C A L YE A R - CO L l E C T I O N OF TA X E S 20 3 1 - 3 2 20 3 2 - 3 3 20 3 3 - ~ 20 3 4 - 3 5 20 3 5 - 3 6 20 3 6 - 3 7 20 3 7 - 3 8 20 3 8 - 3 9 2039-40 2040-41 CA L E N D A R YE A R -P A Y M E N T S TO BO N D HO L D E R S 20 3 2 20 3 3 20 ~ 20 3 5 20 3 6 20 3 7 20 3 8 2039 2040 2041 V All ! ; B A ~ I ; Atl t l l . ! A L li~ E ! < l A L IA ) ( UN D E V a O P E D PR O P E R T Y , PE R AC R E $- 0 $-0 $- 0 $- 0 $- 0 S-O $- 0 $-0 $-0 $-0 NO N - R E S I D E N T I A L PR O P E R T Y , PE R AC R E so so $0 $0 so so $0 $0 so so RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $2 0 , 6 5 8 S2 1 . 0 7 1 $2 1 , 4 9 2 $2 1 , 9 2 2 $2 2 , 3 6 1 $2 2 . 6 0 8 $2 3 , 2 6 4 $2 3 , 7 2 9 S24,204 $24,668 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) $1 2 , 7 8 7 S1 3 . 0 4 2 S1 3 , 3 0 3 $1 3 , 5 6 9 S1 3 , 8 4 1 $1 4 , 1 1 7 S1 4 , 4 0 0 S1 4 , 6 8 8 S14,982 $15.281 CL A S S 3 RE S i l E N T I A L (4 , 3 0 1 - 4,6 0 0 SF ) $1 1 , 6 7 2 $1 1 , 9 0 6 S1 2 , 1 4 4 S1 2 , 3 1 ! 6 S1 2 , 6 3 4 S1 2 , 8 8 7 S1 3 , 1 4 5 S1 3 , 4 0 8 S13,676 S13,949 CL A S S 4 RE S I D E N T I A L (3 . 9 0 1 -4,3 0 0 SF ) $1 1 , 3 5 0 S1 1 , 5 7 7 S1 1 , 8 0 9 $1 2 , 0 4 5 S1 2 . 2 8 6 S1 2 , 5 3 2 S1 2 , 7 8 2 $1 3 , 0 3 8 S13,299 $13,565 CL A S $ 5 RE S I D E N T I A L (3 , 70 1 -3, 9 0 0 SF ) $1 0 , 5 5 7 S1 0 , 7 6 9 S1 0 , 9 8 4 $1 1 , 2 0 4 S1 1 , 4 2 8 S1 1 , 6 5 6 $1 1 , 8 8 9 $1 2 , 1 2 7 $12,370 S12,617 CL A S S & RE S I D E N T I A L (3 , 4 0 1 - 3,7 0 0 SF ) S1 0 , 3 7 4 S1 0 , 5 8 1 $1 0 , 7 9 3 $1 1 , 0 0 9 $1 1 , 2 2 9 $1 1 , 4 5 3 $1 1 . 6 8 2 $1 1 , 9 1 6 S12,154 S12,397 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3, 4 0 0 SF ) $9 , 8 6 8 S1 0 , 0 6 5 $1 0 , 2 6 7 S1 0 , 4 7 2 S1 0 , 6 6 2 $1 0 , 8 9 5 S1 1 , 1 1 3 S1 1 , 3 3 5 S11,562 $11,793 CL A S S 8 RE S I O E N ' T I A L (< • 2,9 0 0 SF ) $9 , 1 7 9 $9 , 3 6 2 $9 . 5 4 9 $9 . 7 4 0 $9 , 9 3 5 $1 0 , 1 3 4 $1 0 , 3 3 7 $1 0 , 5 4 3 S10,754 $10,969 Vl. MA X I M U M li P f C I A L IA X E S UN D E V a O P E D PR O P E R T Y ($ 0 ) (S O ) (S O ) ($ 0 ) (S O ) ($ 0 ) ($ 0 ) (SO) (30) (SO) NO N - R E S I D E N T I A L PR O P E R T Y so so so so so so so so so so RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S S3 0 9 , 8 6 5 S3 1 6 , 0 6 2 $3 2 2 , 3 8 4 $3 2 8 , 8 3 1 S3 3 5 , 4 0 8 $3 4 2 , 1 1 6 S3 4 8 , 9 5 8 S3 5 5 , 9 3 8 $363,056 $370,317 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) $1 4 0 , 6 5 3 S1 4 3 , 4 6 6 $1 < 1 6 , 3 3 6 $1 4 9 . 2 6 2 S1 5 2 . 2 4 B S1 5 5 . 2 9 2 S1 5 8 , 3 9 8 S1 6 1 , 5 6 6 S164,798 S168,D94 CL A S S 3 RE S I D E N ' T I A L (4 , 3 0 1 - 4, 6 0 0 SF ) $3 5 0 , 1 6 2 S3 5 7 , 1 6 5 $3 6 4 , 3 0 9 $3 7 1 , 5 9 5 S3 7 9 . 0 2 7 S3 6 6 , 6 0 7 S3 9 4 , 3 3 9 $4 0 2 . 2 2 6 $410,271 $418,476 CL A S $ 4 RE S I D E N T I A L (3 , 9 0 1 - 4, 3 0 0 SF ) S1 3 6 , 2 0 4 S1 3 8 , 9 2 8 S1 4 1 , 7 0 7 $1 4 4 , 5 4 1 S1 4 7 , 4 3 2 S1 5 0 , 3 8 0 $1 5 3 , 3 8 8 $1 5 6 , 4 5 6 S159,585 $162,776 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3, 9 0 0 SF ) $2 8 5 , 0 5 2 $2 9 0 , 7 5 3 $2 9 6 , 5 6 8 $3 0 2 . 5 0 0 S3 0 8 , 5 5 o $3 1 4 , 7 2 1 S3 2 1 , 0 1 5 S3 2 7 , 4 3 5 S333,984 $340,564 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 -3, 7 0 0 SF ) $2 0 7 , 4 7 3 $2 1 1 , 6 2 2 $2 1 5 , 8 5 5 $2 2 0 , 1 7 2 S2 2 4 . 5 7 5 $2 2 9 , 0 6 7 S2 3 3 , 6 4 B $2 3 8 , 3 2 1 $243,088 S247.949 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3, 4 0 0 SF ) $2 9 6 , 0 4 2 $3 0 1 , 9 6 3 $3 0 8 , 0 0 2 $3 1 4 , 1 6 2 S3 2 0 , 4 4 5 $3 2 6 , 8 5 4 $3 3 3 , 3 9 1 $3 4 0 , 0 5 9 $346,860 $353,797 CL A S S B RE S I D E N ' T I A L (" " 2,9 0 0 SF ) S9 1 , 7 8 6 S9 3 , 6 2 2 S9 5 , 4 9 4 S9 7 , 4 0 4 S9 9 , 3 5 2 S1 0 1 , 3 3 9 $1 0 3 . 3 6 6 S1 0 5 , 4 3 4 $107,542 S109,693 - - - - - - - - - - - - - - - - - - - - -- - - - -- - - - - - - - - - - - -------- TO T A L MA X I M U M SP E C I A L TA X E S $1 , 8 1 7 , 2 3 8 $1 , 8 5 3 , 5 8 2 $1 , 8 9 0 , 6 5 4 $1 , 9 2 8 , 4 6 7 $1 , 9 6 7 , 0 3 6 $2 , 0 0 6 , 3 7 7 $2 , 0 4 6 , 5 0 5 $2 , 0 8 7 , 4 3 5 $2,129,184 $2,171,767 VII PE B T S ! ; R l l i ! ; ; E CO V E B A G E GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T S " 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 113.27% 11327% GR O S S DE B T SE R V I C E CO V E R A G E • 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 11 0 . 6 4 % 110.64% 110.64% NE T DE B T SE R V I C E CO V E R A G E - 11 3 . 6 3 % 11 3 . 5 7 % 11 3 . 5 2 % 11 3 . 4 6 % 11 3 . 4 0 % 11 3 . 3 5 % 11 3 . 3 0 % 11 3 . 2 5 % 113.19% 113.14% • A.£ . 0 1 . 4 / U M SP E / : I . A . L TA A E S US S CF D A l l ! . U N I S T R A 1 1 0 N . Dlf 1 D E : I ) BY GR O S S DE l i T SE R V I C E •• MA X J J . f U } . [ SP E C I A L T.. t \ U l.E 3 S CF D A D l . O M S 7 M T I O N PL U S MiS E R V C EA R N I N G S . Dll 1 u . . D BY GR O S S DE l J 1 SE R Y I C E CU S D CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 57 Dr a f t - Un a u d i t e d Page 8 FIS C A l YE A R - CO L L E C T I O N OF TA X E S 20 4 1 - 4 2 20 4 2 ~ 20 4 : 1 - « 20 4 4 5 20 4 5 - t 6 20 4 6 - 4 7 TO T A L CA l E N D A R YE A R - PA Y M E N T S TO BO N D HO l D E R S 20 4 2 20 4 3 2Q 4 . 4 20 4 5 20 4 6 20 4 7 I. CF P BO N P E P IN P E B T E P N E S S cu s o OT H E R FA C I U T I E S $l l $ll $l l $ll $0 $0 $4 , 9 2 2 , 5 6 5 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H / H S I S I T E $0 $l l $l l $0 $0 $ll $5 , 2 9 6 , 1 3 2 CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I U T I E S & FE E S $l l $ll $l l $0 $l l $ll $4 . 7 9 1 , 2 9 3 OT H E R CIT Y FA C U T I E S · - - - - - - - - $l l $ll SO $0 $l l $I I $6 5 3 , 3 5 8 TO T A L FIN A N C E D PU B L I C FA C I U T I E S $l l $0 $l l $ll $l l $0 $1 5 , 6 6 3 , 3 - 4 8 TO T A L BO N D E D IN D E B T E D N E S S $l l SO $0 $ll $0 $0 $2 0 , 0 5 5 , 0 0 0 II AB S O R P T I O N - BU I L D I N G PE R M I T S la s of 11 1 1 • UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E l O P E D AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) 0.0 0.0 NA DE V E L O P E D NO N - R e S I D E N T I A L PR O P E R T Y CU M U L A T I V E NO N - R E S I D E N T J A L AC R E A G E 0. 0 0.0 0. 0 0. 0 0.0 0.0 NA DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 NA CL A S S 2 RE S I D E N T J A L (> 4,6 0 0 SF ) 11 11 11 11 11 11 NA CL A S S 3 RE S I D E N T l A L (4 , 3 0 1 -4, 6 0 0 SF ) 30 30 30 30 30 30 NA CL A S S 4 RE S I D E N T I A L ( 3 , 9 0 1 - 4 . 3 0 0 S F ) 12 12 12 12 12 12 NA CL A S S 5 RE S I D E N T I A L (3 , 70 1 -3,9 0 0 SF ) 27 27 27 27 27 27 NA CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 -3, 70 0 SF ) 20 20 20 20 20 20 NA CL A S S 7 RE S I D E N T I A L ( 2 , 9 0 1 - 3,4 0 0 SF ) 30 30 30 30 30 30 NA _C ~ - - - - ~ J ! ! _ E N T ! A ! : ~ 3 · 9 0 0 S F ) _ _ _ _ _ _ 10 10 10 10 10 10 NA CU I . I U L A T I V E R E S I D E N l l A L U N I T S 15 5 15 5 15 5 15 5 15 5 15 5 NA • Cu s t o m ho m n \la s H \4 ) 0 n lll n d u- . . ra t t . r tM n bu i l d ' 1 n g pem l i ' l s Ill . ME L L O - R O Q S SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 $l l $ll $l l $0 $0 $0 RE S I D E N T I A L PR O P E R T Y sP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S $3 7 7 . 7 2 4 $3 6 5 , 2 7 8 $2 7 0 , 8 9 6 $4 0 0 , 6 4 3 $4 0 8 , 8 6 0 $1 9 7 , 1 5 9 $9 , 4 1 5 , 2 3 - 4 CL A S S 2 RE S I D E N T I A L ( > 4. 6 0 0 SF ) $1 7 1 , 4 5 5 $1 7 4 . 8 8 5 $1 2 2 , 9 6 4 $1 8 1 , 9 5 0 $1 8 5 , 5 8 9 $8 9 , 4 9 4 $4 , 4 1 1 , 8 2 0 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4,6 0 0 SF ) $4 2 6 . 8 4 6 $4 3 5 , 3 8 3 $3 0 6 , 1 2 6 $4 5 2 , 9 7 2 $4 6 2 , 0 3 2 $2 2 2 , 7 9 9 $1 0 , 9 7 5 , 6 1 1 CL A S S 4 RE S I D E N T J A L (3 , 9 0 1 - 4,3 0 0 SF ) $1 6 6 , 0 3 2 $1 6 9 , 3 5 3 $1 1 9 . 0 7 5 $1 7 6 , 1 9 4 $1 7 9 , 7 1 8 $8 6 , 6 6 3 $4 , 2 6 1 , 1 2 2 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 S F ) $3 - 4 7 , 4 7 7 $3 5 4 , 4 2 7 $2 4 9 , 2 0 3 $3 6 8 , 7 4 5 $3 7 6 , 1 2 0 $1 8 1 , 3 7 2 $9 , 0 3 2 , 1 5 4 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 -3,7 0 0 SF ) $2 5 2 , 9 0 8 $2 5 7 , 9 6 6 $1 8 1 , 3 8 0 $2 6 8 , 3 8 8 $2 7 3 , 7 5 6 $1 3 2 , 0 1 0 $8 , 6 2 2 , 9 7 1 CL A S S 7 RE S I O E N T I A L ( 2 , 9 0 1 - 3 , 4 0 0 S F ) $3 6 0 , 8 7 3 $3 6 8 , 0 9 1 $2 5 8 , 8 1 1 $3 8 2 . 9 6 2 $3 9 0 , 6 2 1 $1 8 8 , 3 8 4 $9 , 3 8 2 . 9 9 7 CL A S S _ ! _ _ ~E S I D E ~ ~ ~ _ : > ~ - - - - $1 1 1 , 8 8 7 $ 1 1 4 , 1 2 5 $8 0 , 2 4 3 $1 1 8 , 7 3 5 $1 2 1 , 1 1 0 $5 8 , 4 0 1 $2 , 9 2 6 , 7 3 - 4 TO T A L SP E C I A l TA X E S $2 , 2 1 5 , 2 0 3 $2 , 2 5 9 , 5 0 7 $1 , 5 8 1 , 6 9 7 $2 , 3 5 0 , 7 9 1 $2 , 3 9 7 , 1 0 6 $1 , 1 5 6 , 2 6 3 $5 7 , 0 0 1 , 6 4 4 IV . SP E C I A L TA X RE Q U I R E M E N T NE W BO N D E D IN D E B T E D N E S S $0 $ll ($ 7 , 16 0 , 0 0 0 ) $0 $0 ($ 1 2 , 8 9 5 , 0 0 0 ) $2 0 , 0 5 5 , 0 0 0 !' : ~ ~ ~ ~ - ~ .. - - - - - - - - - - - - - - $0 -- - ~ ($ 7 1 6 , 0 0 0 ) ${) -- - - ~ ($ 1 , 2 8 9 , 5 0 0 ) $2 , 0 0 5 , 5 0 0 Mo ! N U A L O E B T S E R V l C E - S E R I E S A $7 1 2 , 5 6 6 $7 2 6 , 8 1 9 $7 4 1 , 3 5 6 $0 $l l $0 $1 6 , 9 5 1 , 7 3 2 AN N U A L DE B T SE R V I C E - SE R I E S B $1 . 2 0 9 . 3 0 0 $1 . 2 3 3 . 4 8 6 $1 , 2 5 8 , 1 5 6 $1 , 2 8 3 , 3 1 9 $1 , 3 0 8 , 9 6 5 $1 , 3 3 5 , 1 6 5 $3 1 , 0 4 5 , 4 9 0 -- - - - - - - - · - - - - AN N U A L GR O S S DE B T SE R V I C E $1 , 9 2 1 , 8 6 8 $1 , 9 6 0 , 3 0 5 $1 , 9 9 9 , 5 1 1 $1 , 2 8 3 , 3 1 9 $1 , 3 0 8 , 9 8 5 $1 , 3 3 5 , 1 6 5 $4 7 , 9 9 7 , 2 2 2 CF D A D M I N I S T R A T I O N $8 8 , 7 9 2 $9 0 , 5 6 8 $9 2 , 3 7 9 S9 4 , 2 2 7 $9 6 , 1 1 2 $9 8 , 0 3 4 $2 . 4 9 9 , 7 2 4 RE S E R V E FU N D IN T E R E S T (6 % DE U N O U E N C Y ) ($ 4 7 , 1 2 9 ) ($ 4 7 , 12 9 ) ($ 4 7 , 12 9 ) ($ 3 0 , 3 0 3 ) (S 3 0 , 3 0 3 ) ($ 3 0 , 3 0 0 ) ($ 1 , 3 3 6 , 4 4 5 ) CA P I T A L I Z E D IN T E R E S T $0 $0 $0 $0 $0 $0 ($ 1 , 2 0 3 , 3 0 0 ) PA Y - A S - Y O I J - G O FU N O S (I N C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E ) SO $l l $0 $l l SO $0 $7 0 3 , 8 6 8 PA Y - A S - Y O I J - G O FU N D S (C I T Y OF SA N ~A N CA P I S T R A N O PU B L I C FA C I L I T I E S AN D FE E S ) $0 $0 $0 SO $0 $0 $7 2 2 , 2 0 5 PA Y - A S - Y O I J - G O FU N D S (C I T Y OF SA N ~A N CA P I S T R A N O OT H E R CIT Y FA C I L I T I E S ) $0 $l l $0 SO $0 $0 $9 8 , 4 8 3 ~~~ _ ! ? U - G ' ? ! . U ~ ! : < : l . . . _ G _ I : l ~ - - - - - - $2 5 1 , 6 7 2 - ~ .35 9 : ! : ~ ~. 5 4 ~ $1 , 0 2 3 , 0 1 3 !! , _ 0 4 2 , 8 6 7 ~ ~ NE T AN N U A L DE B T SE R V I C E $2 . Z 1 5 , 2 0 3 $2 , 2 5 9 , 5 0 7 $1 , 5 8 1 , 8 9 7 $2 , 3 $ 0 , 7 9 1 $2 , 3 9 7 , 1 0 6 $1 , 1 5 1 , 2 6 3 $5 7 , 0 0 1 , 0 4 4 CIA i l U L A T I V E BO N D PR O C E E D S I P A Y · A S - Y O U - G O FO R $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 NA IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E AN N U A L SU R P L U S I ( O E F I C I T ) $0 $0 $ll $0 $0 $0 NA CU M U L A T I V E SU R P L U S I ( D E F I C I T ) SO $l l $ll $0 $0 $0 NA -- D£ 8 T S £ R ~ 1 C E SC H E D U L E AS S U A I E S M A R C J J I.A A ' D S E P T D I B C R J BO . 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Z fi : B M ! n i !•~ 2f ll l l " UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E 55 . 2 44 . 8 31 . 7 17 . 0 (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U L A T I V E NO N - R E S I D E N T I A L AC R E A G E 0.0 0. 0 0. 0 00 0.0 0. 0 0.0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 0 0 0 0 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) 0 2 5 8 11 11 11 11 11 11 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 -4, 6 0 0 SF ) 0 6 13 21 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4, 3 0 0 SF ) 0 2 5 8 12 12 12 12 12 12 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 S F ) 3 8 15 23 27 27 27 27 27 27 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 SF ) 4 8 13 18 20 20 20 20 20 20 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3, 4 0 0 SF ) 3 9 16 24 30 30 30 30 30 30 -~ - - ~ ! ? 5 ! ! 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P E C I A L TI I X ! i l i UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S so $0 $0 $0 so so so $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 $0 so so $0 $0 $0 RE S I D E N T I A l PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S so $0 $0 $0 $0 S2 3 0 . 2 3 4 $2 3 4 , 8 3 9 $2 3 9 , 5 3 6 S244,326 $249.213 CL A S S 2 RE S J D E i l l l A L (> 4, 6 0 0 SF ) so $0 S1 7 . 9 0 5 $4 5 , 6 5 9 S7 4 , 5 1 5 S1 0 4 , 5 0 7 S1 0 6 , 5 9 8 S1 0 8 , 7 2 9 S110,904 S113,122 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4. 6 0 0 SF ) $0 $0 $4 9 , 0 3 - 4 S1 0 8 , 3 6 5 S1 7 8 , 5 5 2 S2 6 0 , 1 7 6 $2 6 5 , 3 7 9 S2 7 0 , 6 8 7 $276,100 S281,623 CL A S S 4 RE S I D E N T l A L (3 , 9 0 1 - 4, 3 0 0 SF ) so $0 $1 5 . 8 9 4 $4 0 , 5 3 0 $6 5 , 1 4 5 S1 0 1 , 2 0 2 S1 0 3 , 2 2 6 S1 0 5 , 2 9 0 $107.396 $109,544 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3, 9 0 0 SF ) $0 S2 1 , 7 4 1 $5 9 , 1 3 5 $1 1 3 , 0 9 6 $1 7 6 , 8 8 3 $2 1 1 , 7 9 8 $2 1 6 , 0 3 4 $2 2 0 . 3 5 5 $224,762 $228,257 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 SF ) $0 $2 8 , 4 8 3 $5 8 , 1 0 6 $9 6 , 3 1 0 $1 3 6 , 0 1 9 S1 5 4 . 1 5 5 S1 5 7 , 2 3 8 $1 6 0 . 3 8 3 $163,591 $166,1163 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3, 4 0 0 SF ) $0 $2 0 , 3 2 1 $6 2 , 1 8 3 $1 1 2 , 7 5 8 $1 7 2 , 5 2 0 $2 1 9 , 9 6 3 $2 2 4 , 3 6 3 $2 2 8 , 8 5 0 $233.427 $238,095 -= - ~ ~ - ~ ~ ~ ( < = 2,9 0 0 S F ) - - - - $0 S1 2 . 6 0 1 $2 5 , 7 0 6 $3 9 , 3 3 0 $6 0 , 1 7 5 $6 8 , 1 9 9 $6 9 , 5 6 3 S7 0 , 9 5 4 S72,373 S73,820 TO T A L SP E C I A L TA X E S so $& 3 , 1 4 6 $2 1 7 , 9 6 3 $5 5 6 , 0 4 9 $& 6 4 , 8 1 0 $1 , 3 5 0 , 2 3 4 s1 , 3 n , 2 3 9 $1 , 4 0 4 , 7 1 4 $1,4.32,879 $1,461,537 IV SP E C I A L TJ! , X BE O U ! R E M E N T NE W BO N I J E O IN D E B T E D N E S S $0 $0 $5 , 3 7 0 , 0 0 0 $0 $0 $9 , 9 5 0 , 0 0 0 $0 $0 $0 $0 NE W RE S E R V E FU N D $0 $0 $5 3 7 , 0 0 0 $0 so $9 9 5 , 0 0 0 so $0 $0 $0 -·- - - - - - - - - - - - AN N U A L DE B T SE R V I C E - SE R I E S A so $0 $0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $4Zl,701 $432,175 AN N U A L DE B T SE R V I C E -SE R I E S B $0 $0 $0 $0 $0 $5 3 0 , 6 6 7 $7 9 6 , 0 0 0 $7 9 6 , 0 0 0 $796,000 $796,000 -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - · - - - - -- - - - - - -- - - -- - - - - - - - ----- AN N U A L GR O S S DE B T SE R V I C E $0 $0 $0 $4 2 9 , 6 0 0 $4 2 9 , 6 0 0 $9 6 0 , 2 6 7 $1 , 2 2 5 , 6 0 0 $1 , 2 2 5 . 6 0 0 $1,219,701 $1,228,175 CF D AD M I N I S T R A T I O N so S5 0 , 0 0 0 S5 1 , 0 0 0 $5 2 , 0 2 0 $5 3 , 0 6 0 $5 4 . 1 2 2 $5 5 , 2 0 4 $5 6 , 3 0 8 $57,434 $58,583 RE S E R V E FU N D IN T E R E S T (6 ' 1 1 DE L I N Q U E N C ' T ) $0 $0 $0 $0 (S 1 2 , 6 2 0 ) (S 1 2 , 6 2 0 ) (S 1 2 , 6 2 0 ) ($ 1 2 , 6 2 0 ) ($36,002) (S36.002) CA P 1 T A L 1 2 E D IN T E R E S T $0 $0 $0 ($ 4 2 9 , 6 0 0 ) so ($ 5 3 0 , 6 6 7 ) ($ 2 6 5 , 3 3 3 ) $0 so $0 PA Y - A S - Y O U - G O FU N D S (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E ) $0 $1 9 , 8 8 8 $1 4 2 . 1 7 8 S3 0 2 , 4 1 7 $Z l 6 , 8 6 1 $0 so $0 $0 $0 PA Y - A S - Y O U - G O FU N O S (C I T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C L I T I E S AN D FE E S ) $0 S1 1 , 6 6 8 S8 3 . 4 1 1 S1 n , 4 1 8 $1 3 8 , 9 5 9 S3 0 9 , 4 5 5 $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CIT Y FA C I L I T I E S ) $0 $1 , 5 9 1 S1 1 , 3 7 4 S2 4 , 19 3 S1 8 , 9 4 9 $4 2 , 1 9 8 $0 $0 $0 $0 RE M A I N I N G PA Y - A S - Y Q U - G O FU N D S TO CU S D so $0 $0 _ _ ($ 0 ) $0 $5 2 7 . 4 7 9 $3 7 4 , 3 8 8 S1 3 5 , 4 9 5 -~ $210.781 -- - - - - - - - - - - - - - - - - NE T AN N U A L DE B T SE R V I C E $0 $1 3 , 1 4 6 $2 8 7 , 9 6 3 $5 5 6 , 0 4 9 $1 6 4 , 8 1 0 S1 . 3 5 0 , 2 3 4 S1 . 3 n , 2 3 o $1 , o l 0 4 , 7 8 4 S1,432,179 $1,461,537 CU M U L A T I V E BO N D PR O C E E D S / P A Y - A S - Y O U - G O FO R so S1 9 , 8 8 8 S2 , 6 1 3 , 7 1 0 $2 , 9 1 6 , 1 2 7 $3 , 1 5 2 . 9 8 8 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6,000,000 $6,000,000 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E AN N U A L SU R P L U S / ( O E F I C I T ) $0 $0 $0 $0 $0 $0 so $0 so $0 CU M U L A T I V E SU R P L U S I ( D E F I C I T ) $0 so $0 $0 $0 so so $0 $0 $0 --D E B T SE . R . V I C E SC H F . . D U L E AS S U M E S J.I . A R C H I AN D SE: J > 7 ' E M 1 J E A IIJ D H D P A Y M E N T S ·• CU S D CF D No . 20 0 5 - 1 {\" J l l i s p e n n g Hin s ) : 58 Dr a f t - Un a u d ~ e d Page3 FI S C A l YE A R - CO L L E C T I O N OF TA X E S 20 1 1 · 1 2 20 1 2 - 1 3 20 1 3 - 1 4 20 1 4 - 1 5 20 1 5 - 1 6 20 1 6 - 1 7 20 1 7 - 1 8 20 1 8 - 1 9 2019-20 2020-21 CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 1 2 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 2019 2020 2021 ll All l i B A ! : Z i i At! I I ! I ! . ! I I L ~el i ! < I A L IM UN D E V E L O P E D PR O P E R T Y , PE R AC R E so $0 $0 so $0 $- 0 $- 0 $-0 $-0 $-0 NO N - R E S I D E N T I A L PR O P E R T Y , PE R AC R E so $0 so so $0 $0 so $0 $0 $0 RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S so so $0 $0 $0 $1 5 . 3 4 9 S1 5 , S 5 6 S1 5 , 9 6 9 $16,288 S16,614 CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) so so $8 , 9 5 3 $9 . 1 3 2 $9 . 3 1 4 $9 . 5 0 1 $9 , 6 9 1 S9 , 6 8 4 $10,062 S10,264 CL A S S 3 RE S I D E N T I A L (4 . 3 0 1 -4,6 0 0 SF ) so $0 $8 , 1 7 2 $8 , 3 3 6 $8 , 5 0 2 $8 , 6 7 3 $6 . 6 4 6 $9 . 0 2 3 S9.203 S9,367 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4.3 0 0 SF ) $0 $0 $7 , 9 4 7 $8 , 1 0 6 $8 . 2 6 8 S8 . 4 3 3 $8 , 6 0 2 $8 , 7 7 4 $8,950 $9,129 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3, 9 0 0 SF ) $0 $7 , 2 4 7 $7 . 3 9 2 $7 . 5 4 0 S7 , 6 9 1 $7 , 6 4 4 $8 , 0 0 1 $6 , 1 6 1 $8,325 $8,491 Cl A S S & RE S I D E N T I A L (3 , 4 0 1 -3, 7 0 0 SF ) $0 S7 , 1 2 1 $7 , 2 6 3 $7 , 4 0 6 S7 , 5 5 7 S7 . 7 0 B $7 . 8 6 2 $8 , 0 1 9 $8,180 S8,343 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3, 4 0 0 SF ) so $6 , 7 7 4 $6 , 9 0 9 S7 , 0 4 7 $7 , 1 8 8 S7 , 3 3 2 $7 . 4 7 9 S7 , 6 2 8 S7.781 S7,937 CL A S S 8 RE S I D E N T I A L ( = 2.9 0 0 SF ) $0 $8 , 3 0 0 $6 , 4 2 7 $6 , 5 5 5 S6 . 6 8 6 $6 , 8 2 0 $6 , 9 5 6 S7 . 0 9 5 S7.237 S7,362 \1 1 . MA X I M ! . ! M se E C ! A L !A X E S UN D E V E L O P E D PR O P E R T Y $1 , 2 8 5 , 6 8 9 $1 , 2 0 9 , 8 7 5 S1 , 0 0 1 , 0 6 6 S7 2 1 . 8 0 3 $3 9 5 , 0 5 5 ($ 0 ) ($ 0 ) ($0) ($0) (SO) NO N - R E S I D E N T I A L PR O P E R T Y $0 $0 $0 so so so so so $0 $0 RE S I D E N 1 1 A L PR O P E R T Y ClA S S 1 CU S T O M HO M E S $0 $0 $0 $0 $0 $2 3 0 . 2 3 4 $2 3 4 , 8 3 9 S2 3 9 . 5 3 6 $244,326 S249,213 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) $0 so S1 7 , 9 0 5 $4 5 , 6 5 9 S7 4 , 5 1 5 $1 0 4 , 5 0 7 S1 0 6 , 5 9 6 S1 0 8 , 7 2 9 $110,904 S113,122 CL A S S 3 RE S I D E N T I A L (4 . 3 0 1 -4, 6 0 0 SF ) so $0 S4 9 . 0 3 4 S1 0 8 , 3 6 5 S1 7 M 5 2 $2 6 0 , 1 7 6 S2 6 5 , 3 7 9 $2 7 0 , S B 7 $276,100 S281,623 CL A S S 4 RE S I D E N T I A L (3 . 9 0 1 -4,3 0 0 SF ) so $0 $1 5 . 8 9 4 $4 0 . 5 3 0 $6 6 , 1 4 5 $1 0 1 , 2 0 2 S1 0 3 , 2 2 6 $1 0 5 , 2 9 0 $107,396 S109.544 CL A S S 5 RE S I D E N T I A L (3 . 7 0 1 -3, 9 0 0 SF ) so $2 1 , 7 4 1 $5 9 , 1 3 5 $1 1 3 , 0 9 6 S1 7 6 , 8 8 3 $2 1 1 . 7 9 8 $2 1 6 , 0 3 4 $2 2 0 , 3 5 5 $224,762 $229.257 CL A S S & RE S I D E N T I A L (3 , 4 0 1 - 3, 7 0 0 SF ) so $2 8 , 4 8 3 $5 8 . 1 0 6 $9 6 , 3 1 0 $1 3 6 , 0 1 9 $1 5 4 , 1 5 5 $1 5 7 , 2 3 8 $1 6 0 , 3 8 3 $163.591 $166,863 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3. 4 0 0 SF ) $0 $2 0 . 3 2 1 $6 2 . 1 8 3 $1 1 2 . 7 5 6 $1 7 2 . 5 2 0 S2 1 9 . 9 6 3 $2 2 4 , 3 6 3 $2 2 6 , 8 5 0 $233,427 $238,095 ClA S S 8 RE S I D E N 1 1 A L (= 2,9 0 0 SF ) $0 $1 2 , 6 0 1 S2 5 , 7 0 6 S3 9 , 3 3 0 $6 0 , 1 7 5 $6 8 , 1 9 9 $6 9 , 5 6 3 $7 0 , 9 5 4 $72.373 $73,820 -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - ------- TO T A L MA X I M U M SP E C I A L TA X E S $1 . 2 6 5 , 6 6 9 $1 . 2 9 3 , 0 2 1 $1 , 2 6 9 , 0 2 9 $1 , 2 n , 6 5 1 $1 , 2 5 9 , 1 1 6 5 $1 , 3 5 0 , 2 3 4 $1 , 3 7 7 , 2 3 9 $1 , 4 0 4 , 7 6 4 $1,432,879 $1,461,537 \Il l pE B T SE R V I C E CO \ I E B A G E GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T S ' NA NA NA 11 0 . 0 7 % 11 2 . 2 7 % 11 4 . 5 2 % 11 6 . 8 1 % 11 9 . 1 4 % 123.Z2% 123.22% GR O S S DE B T SE R V I C E CO V E R A G E • NA NA NA NA NA NA NA 11 0 . 0 3 % 112.n% 114.23% NE T DE B T SE R V I C E CO V E R A G E - NA NA NA NA NA NA NA 11 1 . 0 6 % 115.72% 117.16% • MA J J I I I U M S!' E C J A L T.. . W : : S ~ CF D A D M J A ' I S T R A n O , V . D{I I J I J £ i J B Y GR O S S D£ / J T SE R V I C E •• AlA . ' f ! M U M SP £ C / A L TA X E S LE S S CF D A [ ) J . U N J S T I U T J O N PU I S RE S F R Y F : F.A R N ! N G S . DI V J D £ D BY GR O S S DE B T SE J W I C £ CU S D CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 58 Dr a f t - Un a u d ~ e d Page4 FI S C A L YE A R · CO L L E C T I O N OF TA X E S 20 2 1 - 2 2 20 2 2 - 2 3 20 2 3 - 2 4 20 2 4 - 2 5 20 2 5 - 2 6 20 2 6 - 2 7 20 2 7 - 2 8 20 2 8 - 2 9 2029-30 2030-31 CA L E N D A R YE A R -P A Y M E N T S TO BO N D HO L D E R S 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 2029 2030 2031 I. CF D BO N D E D IN D E B T E D N E S S CU S D OT H E R FA C I L I T I E S so so $0 so so so $0 $0 $0 $0 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E so $0 so so $0 so $0 $0 $0 $0 CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S so so $0 so $0 so so $0 $0 so OT H E R CI T Y FA C I L I T I E S so so $0 so $0 so $0 $0 so so - - - - - - - - - - - - - - - - - - - TO T A L FIN A N C E D PU B L I C FA C I L I T I E S so $0 $0 so so $0 $0 $0 $0 so TO T A L BO N D E D IN D E B T E D N E S S $0 so $0 so $0 $0 $0 so so so II ll l i ! S Q B f i i Q t l • li! l . ! I L Q i t l G El i B M I I l 2 1 R I 21 ll l l • UN D E V a O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U l A T I V E NO N - R E S I D E N T I A L AC R E A G E 0,0 0.0 0. 0 0. 0 0.0 0.0 0.0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) 11 11 11 11 11 11 11 11 11 11 CL A S S 3 RE S I D E N T I A L (4 . 3 0 1 • 4,6 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 • 4,3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 • 3,9 0 0 SF ) 27 27 27 27 27 27 27 27 27 27 CL A S S 5 RE S I D E N T I A L (3 , 4 0 1 • 3,7 0 0 SF ) 20 20 20 20 20 20 20 20 20 20 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3.4 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 -~ ~ ~ - - ~ ~ 1 ? 5 . . . ~ < < = 2~ ~ ! ' L _ _ _ 10 -- - 2 ' 1 10 __ _ _ .!_ q -- - ~ __ _ _ _!? - 10 10 10 10 CU M U L A T I V E RE S I D E N T I A L UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 15 5 155 155 155 • CU d O t n ho m e s bl i N d ~ .. nd Nl r t , ra t t w r ttw n bu i l d i n g pl' m l i t s . Ill . Ml i l l O - R O O S SP E C I A L TA X ! ; S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S $0 so $0 $0 so $0 $0 $0 $0 so NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 so $0 $0 so so so RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S Cl A S S I CU S T O M HO M E S $2 5 4 . 1 9 7 $2 5 9 , 2 8 1 $2 6 4 , 4 5 7 $2 5 9 , 7 5 6 $2 7 5 , 1 5 1 $2 8 0 , 5 5 4 $2 8 5 . 2 6 7 $2 9 1 , 9 9 3 $297,833 $303,789 CL A S S 2 RE S I D E N T I A L ( > 4,5 0 0 SF ) $1 1 5 . 3 8 5 $1 1 7 , 5 9 2 $1 2 0 , 0 4 5 $1 2 2 , 4 4 7 $1 2 4 , 8 9 6 $1 2 7 , 3 9 4 $1 2 9 . 9 4 2 $1 3 2 , 6 4 1 $135,191 $137,895 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 • 4, 6 0 0 SF ) $2 8 7 , 2 5 5 $2 9 3 , 0 0 0 $2 9 8 , 8 6 0 $3 0 4 , 8 3 7 $3 1 0 , 9 3 4 $3 1 7 , 1 5 3 $3 2 3 , 4 9 6 $3 2 8 , 9 6 6 $336,565 $343.296 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 • 4,3 0 0 SF ) $1 1 1 . 7 3 5 S1 1 3 , 9 6 9 $1 1 5 , 2 4 9 $1 1 8 , 5 7 4 $1 2 0 , 9 4 5 $1 2 3 , 3 6 4 $1 2 5 . 8 3 1 $1 2 8 , 3 4 8 $130,915 $133,533 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) $2 3 3 , 8 4 2 $2 3 8 , 5 1 9 $2 4 3 , 2 8 9 $2 4 8 , 1 5 5 $2 5 3 , 1 1 8 $2 5 8 , 1 8 1 $2 5 3 , 3 4 4 $2 6 8 , 6 1 1 $273,983 $279,453 CL A S S 8 RE S I D E N T I A L (3 . 4 0 1 - 3, 70 0 SF ) $1 7 0 . 2 0 0 $1 7 3 , 6 0 4 st n . o 7 5 $1 8 0 , 6 1 8 $1 8 4 . 2 3 0 $1 8 7 , 9 1 5 $1 9 1 , 6 1 3 $1 9 5 , 5 0 6 S199.416 $203,405 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 • 3, 4 0 0 SF ) $2 4 2 , 8 5 7 S2 4 7 , 7 1 5 $2 5 2 , 5 5 9 $2 5 7 , 7 2 2 S2 6 2 , 8 n $2 6 8 , 1 3 4 $2 7 3 , 4 9 7 $2 7 8 , 9 6 7 $284,645 S290,237 ~ ! . _ __ _ ': ~ ~ ~ I A L (< • 2,9 0 0 SF_ ! _ _ _ _ _ $7 5 , 2 9 7 S7 6 , 8 0 3 $7 8 , 3 3 9 $7 9 , 9 0 5 $8 1 , 5 0 4 $8 3 , 1 3 4 $8 4 , 7 9 6 $8 6 , 4 9 2 $86.222 $89,987 TO T A L SP E C I A L TA X E S $1 , 4 9 0 , 7 6 8 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 $1 , 5 8 2 , 0 1 5 $1 , 6 1 3 , 6 5 5 $1 , 6 4 5 , 9 2 8 $1 , 6 7 8 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,781,606 IV SP E C I A L TA X B! i O W R ! ; M E N T NE W BO N D E D IN D E B T E D N E S S so so so so so so $0 so so $0 NE W RE S E R V E FU N D $0 so so $0 so so so $0 so so - - - - - - - - - - - - - - - - - - - - - · - - - - AN N U A L DE B T SE R V I C E ·S E R I E S A $4 4 0 , 8 1 8 $4 4 9 , 6 3 5 $4 5 8 , 6 2 7 $4 5 7 , 8 0 0 S4 n . t 5 8 S4 8 6 , 6 9 9 $4 9 6 , 4 3 3 $5 0 6 , 3 6 2 $516,489 $526,819 AN N U A L DE B T SE R V I C E • SE R I E S B $7 9 6 , 0 0 0 $7 8 5 , 0 7 0 $8 0 0 , 7 7 1 $8 1 6 , 7 8 6 $8 3 3 , 1 2 2 $8 4 9 , 7 8 5 $8 5 5 , 7 8 0 $8 8 4 , 1 1 6 $901,798 $919~ - - - - - - - - - - - - - - · - - - - AN N U A L GR C S S DE B T SE R V I C E $1 . 2 3 6 , 8 1 8 $1 . 2 3 4 , 7 0 4 $1 , 2 5 9 , 3 9 8 $1 , 2 8 4 , 5 8 6 $1 , 3 1 0 , 2 7 8 $1 , 3 3 6 , 4 8 4 $1 , 3 6 3 . 2 1 3 $1 . 3 9 0 , 4 7 8 $1,418,287 $1,446,653 CF D AD M I N I S T R A T I O N $5 9 , 7 5 5 $6 0 , 9 5 0 $6 2 , 1 6 9 $6 3 , 4 1 2 $6 4 , 5 8 0 $6 5 , 9 7 4 $6 7 , 2 9 3 $6 8 , 6 3 9 $70,012 $71,412 RE S E R V E FU N D IN T I E R E S T (6~ DE L I N Q U E N C Y ) ($ 3 6 , 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 5 , 0 0 2 ) ($ 3 6 . 0 0 2 ) ($ 3 5 , 0 0 2 ) ($ 3 5 , 0 0 2 ) ($ 3 5 , 0 0 2 ) ($36,002) ($36,002) CA P I T A L I Z E D IN T E R E S T so $0 so $0 so $0 so $0 so so PA Y - A S - Y O U - G O FU N D S (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T I E ) $0 $0 so $0 $0 $0 so $0 $0 so PA Y - A S - YO U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O PU B l i C FA C I L I T I E S AN D FE E S ) $0 $0 so so $0 $0 $0 so so so PA Y - A S - YO U - G O FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CIT Y FA a U T I E S ) $0 so so $0 $0 $0 so $0 so so RE M A I ! : l ! ! : ' G PA Y - A S - Y ~ _ : J ~ ~ ~ - - - $2 3 0 , 1 9 7 $2 6 0 . 9 3 1 . .. ¥ ~ ~ $2 7 0 . 0 1 8 ~ ~ $2 7 9 . 4 7 3 -~ 8 4 . ~ $2 8 9 , 3 0 9 _s294.~ $299.542 NE T AN N U A L DE B T SE R V I C E $1 , 4 9 0 , 7 6 1 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 $1 , 5 8 2 , 0 1 5 $1 , 6 1 3 , 6 5 5 $1 , 6 4 5 , 9 2 1 $1 , 6 7 1 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,7111,606 CU M U L A T I V E BO N D PR O C E E D S / P A Y - A S - Y O U - G O FO R $5 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 . 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $5 , 0 0 0 , 0 0 0 $6.000,000 $8,000,000 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E AN N U A L SU R P L U S I ( O E F I C I T ) $0 $0 so so $0 so $0 so so so CU M U L A T I V E SU R P L U S I ( O E F I C i n so $0 so so so $0 so so $0 so -· 0£ / J T S E . R I ' J C E S C H E D U l E A S S U A I / i S M A R C H /A N D S E P T E H B E R I BO N D P A J l i E J I T S - CU S D CF D No . 20 0 5 - 1 ('M l i s p e r t n g Hil l s ) : 58 Dr a f t - Un a u d i j e d PageS FI S C A l YE A R -CO ~ L E C T I O N OF TA X E S 20 2 1 - 2 2 20 2 2 - 2 3 20 2 3 - 2 4 20 2 4 - 2 5 20 2 5 - 2 6 20 2 6 - 2 7 20 2 7 - 2 8 20 2 8 - 2 9 2029-30 2030-31 CA l E N D A R YE A R · PA Y M E N T S TO Bo N O HO L D E R S 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 2029 2030 2031 '!l . Al{ I ; B A ! : 2 1 i A~N ! . ! A L S~E C I A L !A ) ( UN D E V E L O P E D PR O P E R T Y , PE R AC R E $- ( ) $- 0 $- 0 $-( ) $- 0 $-0 S- 0 s-o s-o s-o NO N - R E S I D E N T I A l . PR O P E R T Y , PE R AC R E so so so so so so so $0 so so RE S I D E N T I A l . PR O P E R T Y , PE R UM T CL A S S 1 CU S T O M HO M E S S1 6 , 9 ¢ S1 7 . 2 8 5 S1 7 , 6 3 1 $1 7 , 9 8 4 $1 8 , 3 4 3 $1 8 , 7 1 0 $1 9 , 0 8 4 $1 9 , 4 6 6 S19,856 $20,253 CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) S1 0 , 4 9 0 $1 0 , 6 9 9 $1 0 , 9 1 3 $1 1 , 1 3 2 $1 1 , 3 5 4 $1 1 , 5 8 1 $1 1 , 8 1 3 $1 2 , 0 4 9 $12.290 $12,536 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 • 4, 6 0 0 SF ) $9 , 5 7 5 $9 , 7 6 7 $9 , 9 6 2 $1 0 , 1 6 1 $1 0 , 3 6 4 $1 0 , 5 7 2 $1 0 , 7 8 3 $1 0 , 9 9 9 $11,219 $11,443 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 • 4, 3 0 0 SF ) $9 , 3 1 1 $9 , 4 9 7 $9 , 6 8 7 $9 , 8 8 1 $1 0 , 0 7 9 $1 0 . 2 8 0 $1 0 . 4 8 6 $1 0 , 6 9 6 $10,910 $11.128 CL A S S 5 RE S I D E N T I A L (3 . 7 0 1 - 3, 9 0 0 SF ) $8 6 6 1 $8 , 8 3 4 $9 , 0 1 1 $9 , 1 9 1 $9 , 3 7 5 $9 , 5 6 2 $9 , 7 5 3 $9 , 9 4 9 $10,148 $10,350 CL A S S & RE S I D E N T I A L (3 , 4 0 1 • 3, 70 0 SF ) $8 , 5 1 0 $8 , 6 a 0 $8 , 8 5 4 $9 , 0 3 1 $9 , 2 1 1 $9 , 3 9 6 $9 , 5 8 4 s9 , n 5 $9,971 $10,170 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 • 3,4 0 0 SF ) $8 , 0 9 5 $8 , 2 5 7 $8 , 4 2 2 $8 , 5 9 1 $8 , 7 6 3 $8 , 9 3 8 $9 , 1 1 7 $9 , 2 9 9 $9,485 $9,675 CL A S S 8 RE S I D E N T I A L ( = 2, 9 0 0 SF ) $7 , 5 3 0 $7 , 6 8 0 $7 , 8 3 4 $7 , 9 9 1 S8 , 1 5 0 $8 , 3 1 3 $8 . 4 8 0 $8 , 6 4 9 $8,822 $8,999 VI. MA X I M U M SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y (S O ) (S O ) ($ 0 ) ($ 0 ) ($ 0 ) (S O ) (S O ) ($0) (SO) (SO) NO N - R E S I D E N T I A l . PR O P E R T Y $0 $0 $0 $0 $0 $0 $0 so $0 $0 RE S I D E N T I A l . PR O P E R T Y CL A S S 1 CU S T O M HO M E S S2 5 4 , 1 9 7 $2 5 9 , 2 8 1 $2 6 4 , 4 6 7 $2 6 9 , 7 5 6 $2 7 5 . 1 5 1 $2 8 0 , 6 5 4 S2 8 6 , 2 5 7 $2 9 1 , 9 9 3 $297,833 $303,789 CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) S1 1 5 , 3 8 5 $1 1 7 , 6 9 2 $1 2 0 , 0 4 6 $1 2 2 , 4 4 7 $1 2 4 , 8 9 6 $1 2 7 , 3 9 4 $1 2 9 , 9 4 2 $1 3 2 , 5 4 1 $135,191 $137,895 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4,6 0 0 SF ) $2 8 7 , 2 5 5 $2 9 3 , 0 0 0 $2 9 8 , 8 6 0 $3 0 4 , 8 3 7 $3 1 0 , 9 3 4 $3 1 7 , 1 5 3 $3 2 3 , 4 9 6 $3 2 9 , 9 6 6 $336,565 $343,296 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4,3 0 0 SF ) $1 1 1 , 7 3 5 $1 1 3 , 9 6 9 $ 1 1 6 , 2 4 9 $1 1 8 , 5 7 4 $1 2 0 , 9 4 5 $1 2 3 , 3 6 4 $1 2 5 , 8 3 1 $1 2 8 , 3 4 8 $130,915 $133,533 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 · 3,9 0 0 SF ) $2 3 3 , 6 4 2 $2 3 8 , 5 1 9 $2 4 3 , 2 9 9 $2 4 8 , 1 5 5 $2 5 3 , 1 1 8 $2 5 8 , 1 8 1 $2 8 3 , 3 4 4 $2 6 8 , 6 1 1 $273,983 $279,463 CL A S S & RE S I D E N T I A L (3 , 4 0 1 • 3,7 0 0 SF ) $1 7 0 , 2 0 0 $1 7 3 , 6 0 4 s1 n . o 1 6 $1 0 0 , 6 1 8 $1 8 4 , 2 3 0 $1 8 7 , 9 1 5 $1 9 1 , 6 7 3 $1 9 5 , 5 0 6 $199,416 $203,405 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 • 3,4 0 0 SF ) $2 4 2 . 8 5 7 $2 4 7 , 7 1 5 $2 5 2 , 6 6 9 $2 5 7 , 7 2 2 s2 6 2 . 8 n $2 6 8 , 1 3 4 $2 7 3 . 4 9 7 $2 7 8 . 9 6 7 $264,546 $290,237 CL A S S 8 RE S I D E N T I A l ( < = 2, 9 0 0 SF ) $7 5 , 2 9 7 $7 6 . 8 0 3 $7 8 . 3 3 9 $7 9 , 9 0 5 $8 1 , 5 0 4 $8 3 , 1 3 4 $6 4 , 7 9 6 $8 6 , 4 9 2 $88,222 $89,987 - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - ~ - -- - - - - - - - - - - ------- TO T A l MA X I M U M SPE C I A ~ TA X E S $1 , 4 9 0 , 7 6 8 $1 , 5 2 0 , 5 8 3 $1 , 5 5 0 , 9 9 5 $1 , 5 8 2 , 0 1 5 $1 , 6 1 3 , 6 5 5 $1 , 6 4 5 , 9 2 8 $1 , 6 7 8 , 8 4 7 $1 , 7 1 2 , 4 2 4 $1,746,672 $1,781,608 VI I DE B T SE R V I C E CO \ I E B A G f i GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T S • 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 123.22% 123.22% GR O S S DE B T SE R V I C E CO I I E R A G E • 11 5 . 7 0 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 118.22% 118.22% NE T DE B T SE R V I C E CO V E R A G E - 11 8 . 6 1 % 12 1 . 1 3 % 12 1 . 0 8 % 12 1 . 0 2 % 12 0 . 9 6 % 12 0 . 9 1 % 12 0 . 8 6 % 12 0 . 8 1 % 120.76% 120.71% • J.l A X J M U l l sr E C J A L T.. w : J ' l.D S CF D AD M I N J S T R A 1 1 0 N . DIV J l J E D B r G R O S S DE B T SE R V I C E -M A X I M U M SP E C I A L TA X E S lE S S CF D A D 1 • Q N J S T R A r i O N PL U S RE S E R ~ EA R N J N G S , Di i ' I U D Bf GR O S S DE J I T SE R V I C E CU S D CF D No . 20 0 5 - 1 (V I h l i s p e m g Hil l s ) : 58 Dr a f t - Un a u d i t e d Page6 FIS C A L YE A R - CO L L E C T I O N OF TA X E S 20 3 1 - 3 2 20 3 2 - 3 3 20 3 3 - 3 4 20 3 4 - 3 5 20 3 5 - 3 6 20 3 6 - 3 7 20 3 7 - 3 1 1 20 3 8 - 3 9 2039-40 2040-41 CA L E N D A R YE A R - PA Y M E N T S TO 80 N D HO L D E R S 20 3 2 20 3 3 20 3 4 20 3 5 20 3 6 20 3 7 20 3 8 2039 2040 2041 I CE Q BO N p E p IN D E B T E D N E S S CU S D OT H E R FA C I U T I E S so so $0 so $0 so so $0 $0 $0 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H / H S / S I T E so $0 so $0 so so so so so $0 CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I U T I E S & FE E S $0 $0 $0 $0 $0 $0 so $0 $0 $0 OT H E R CIT Y FA C I U T I E S $0 $0 $0 $0 so $0 so $0 $0 . $0 -- - - - - - - - - - - - - - - - - - - - TO T A L FI N A N C E D PU B L I C FA C I U T I E S so $0 $0 $0 $0 so $0 $0 $0 $0 TO T A L BO N D E O IN O E B T E D N E S S so so $0 $0 $0 $0 so so $0 $0 !1. li ~ Q B e i ! Q t l -Ei! . ! I L Q i t j t 2 EE B M I I : i (il i i !2 { 11 1 1 " UN D E \ I E L O P E O PR O P E R T Y RE M A I N I N G UN I J E V E l . O P E D AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U L A T N E NO N - R E S I D E N T I A L AC R E A G E 0.0 0.0 0.0 0. 0 0.0 0.0 0. 0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T l A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) 11 11 ,, 11 ,, 11 11 11 11 11 CL A S S 3 RE S I D E N T I A L (4 . 3 0 1 -4.6 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 -3,9 0 0 SF ) 27 27 27 27 27 27 27 27 27 27 CL A S S & RE S I D E N T I A L (3 , 4 0 1 -3,7 0 0 SF ) 20 20 20 20 20 20 20 20 20 20 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3,4 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 _E ~ 8 - - ~ E ~ ~ ~ I ? _ S F ) _ _ _ _ 10 --- - - ~ 10 10 10 10 10 10 ____ __!_~ ____ !£ CU M U L A T I V E RE S I D E N T I A L UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 IS S 155 155 155 • Cu s t o m hO r n e t baM d ~n la n d u' n , '- l l w l l t w ' l ~lr ' l ! i l pe n n l l s Ill ME L L Q - R Q Q S SP E C I A L TA X E S ut« > E V E L O P E O PR O P E R T Y SP E C I A L TA X E S so $0 so so $0 so so $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 so $0 $0 so $0 $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S CL A S S ! CU S T O M HO M E S S3 0 9 , 8 6 S $3 1 6 , 0 6 2 S3 2 2 , 3 8 < 1 $3 2 1 , 8 3 1 $3 3 5 . 4 0 8 S3 4 2 , 1 1 6 S3 4 8 , 9 S 8 $3 5 5 , 9 3 1 1 $363,0S6 $370,317 CL A S S 2 RE S I D E N T I A L (> 4,6 0 0 SF ) $1 4 0 , 6 5 3 S1 4 3 , 4 6 6 S1 4 6 , 3 3 6 $1 4 9 . 2 5 2 S1 5 2 , 2 4 6 $1 5 5 , 2 9 2 $1 5 8 , 3 9 8 $1 6 1 , 5 6 6 $164,798 $168,094 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4, 6 0 0 SF ) S3 5 0 , 1 6 2 $3 5 7 , 1 6 5 $3 6 4 , 3 0 9 $3 7 1 , 5 9 5 $3 7 9 , 0 2 7 S3 8 6 . 6 0 7 $3 9 4 . 3 3 9 $4 0 2 . 2 2 6 $410.271 $418,476 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4, 3 0 0 SF ) S1 3 6 , 2 0 4 S1 3 8 , 9 2 8 $1 4 1 , 7 0 7 $1 4 4 , 5 4 1 $1 4 7 . 4 3 2 $1 5 0 , 3 8 0 $1 5 3 , 3 8 8 $1 5 6 , 4 5 6 S159,585 S162,776 CL A S S 5 RE S I D E N T I A L (3 . 70 1 -3, 9 0 0 SF ) $2 8 5 , 0 5 2 S2 9 0 , 7 5 3 $2 9 6 , 5 5 8 $3 0 2 , 5 0 0 $3 0 8 , 5 5 0 S3 1 4 , 7 2 1 S3 2 1 , 0 1 5 $3 2 7 , 4 3 5 $333,984 $340,664 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3. 70 0 SF ) S2 0 7 , 4 7 3 S2 1 1 , 6 2 2 $2 1 5 , 8 5 5 S2 2 0 , 1 7 2 $2 2 4 . 5 7 5 S2 2 9 , 0 6 7 S2 3 3 , 6 4 8 $2 3 8 . 3 2 1 S243,088 $247,949 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3, 4 0 0 SF ) S2 9 6 . 0 4 2 $3 0 1 , 9 6 3 $3 0 8 , 0 0 2 $3 1 4 , 1 6 2 $3 2 0 , 4 4 5 $3 2 6 , 8 5 4 $3 3 3 , 3 9 1 S3 4 0 . 0 5 9 $346,860 $353,797 CL A S S 8 RE S I D E N T I A L (< • 2,9 0 0 SF ) $9 1 , 7 8 6 S9 3 . 6 2 2 S9 5 , 4 9 4 S9 7 , 4 0 4 S9 9 , 3 5 2 $1 0 1 . 3 3 9 S1 0 3 , 3 6 6 S1 0 5 , 4 3 4 S107,542 $109,693 -- - TO T A L SP E C I A L TA X E S S1 . 1 1 7 , 2 J a $1 , 1 5 3 , 5 8 2 $1 , 1 9 0 , 6 5 4 $1 , 9 2 1 , 4 6 7 $1 , 9 6 7 , 0 3 6 $2 , 0 0 6 , 3 7 7 $2 , 0 4 6 , 5 0 5 $2 , 0 1 7 , 4 3 5 S2.129,114 S2,171,767 IV . Sp ( ; C i l \ L Tli X RE O l J I R E M E N I NE W BO N D E D IN O E B T I E D N E S S $0 $0 so $0 $0 so so $0 $0 $0 NE W RE S E R V E FU t > D so $0 $0 $0 $0 $0 $0 $0 $0 $0 - - - - - - - - - - - - - · - - - - - - - - - - - - - - AN N U A L DE B T SE R V I C E -SE R I E S A $5 3 7 , 3 5 5 $5 4 8 , 1 0 2 $5 5 9 . 0 6 4 $5 7 0 , 2 4 6 $5 8 1 , 6 5 0 $5 9 3 , 2 8 4 $6 0 5 , 1 4 9 $6 1 7 , 2 5 2 $629,597 $642,189 AN N U A L DE B T SE R V I C E -SE R I E S B $9 3 8 , 2 3 1 $9 5 6 , 9 9 5 $9 7 6 , 1 3 5 $9 9 5 , 6 5 8 $1 , 0 1 5 , 5 7 1 $1 , 0 3 5 . 8 8 3 $1 , 0 5 6 , 6 0 0 $1 , 0 7 7 , 7 3 2 $1,099.287 $1,121.273 - - - AN N U A L GR O S S DE B T SE R V I C E $1 , 4 7 5 , 5 8 6 $1 , 5 0 5 , 0 9 8 $1 . 5 3 5 . 2 0 0 $1 , 5 6 5 , 9 0 4 $1 , 5 9 7 . 2 2 2 $1 , 6 2 9 , 1 6 6 $1 , 6 6 1 , 7 4 9 $1 , 6 9 4 , 9 8 4 $1,728,184 $1.763,462 CF O A O M I N I S T R A T I O N $7 2 , 1 4 1 $7 4 , 2 9 7 $7 5 , 7 8 3 $7 7 , 2 9 9 $7 8 , 1 4 5 $8 0 , 4 2 2 $6 2 , 0 3 0 $8 3 , 6 7 1 $85,344 $87,051 RE S E R V E FU N D IN T E R E S T (6 % DE L I N Q U E N C Y ) ($ 3 8 . 0 0 2 ) ($ 3 6 . 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 6 . 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 6 , 0 0 2 ) ($36,002) ($36,002) CA P 1 T A U Z E D IN T E R E S T $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S (IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E ) so $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y -A s - YO l J . G O FU N D S (C I T Y OF SA N JU A N CA P l S T R A N O PU B L I C FA C I L I T I E S AN D FE E S ) so $0 $0 $0 $0 $0 $0 $0 $0 $0 PA Y - A s - Y O U . G Q FU N D S (C I T Y OF SA N JU A N CA P I S T R A N O OT H E R CIT Y FA C I L I T I E S ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RE M A I N I N G PA Y - A S - YO l J . G O FU t > D S TO CU S O $3 0 4 , 8 1 3 $3 1 0 , 1 8 9 $3 1 5 , 6 7 3 $3 2 1 , 2 6 6 $3 2 8 . 9 7 2 $3 3 2 . 7 9 1 $3 3 8 , 7 2 7 $3 4 4 , 7 8 1 -~·957 $357,256 NE T AN N U A L DE B T SE R V I C E $1 , 1 1 7 , 2 3 1 $1 , 1 5 3 , 5 1 2 $1, 1 1 1 0 . 6 5 < 4 $1 , 1 1 2 1 . 4 6 7 $1 , 9 6 7 , 0 3 6 $2 . 0 0 6 . 3 7 7 $2 , 0 4 6 , 5 0 5 S2 , 0 8 7 , 4 3 5 $2,129,114 $2,171,767 CU M U L A T I V E BO N O PR O C E E D S / P A Y - A s - YO U - G O FO R $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 . 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 0 0 0 $6,000,000 $6,000,000 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E AN N U A L SU R P L U S / ( O E F I C I T ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CU M U L A T1 V E SU R P L U S / ( O E F I C I T ) so $0 $0 $0 $0 so so $0 so so •• l> E B T S F . R V I C E S C H E D U U AS S U M E S MA R C H I AN D SE P T E M B E R 1 BO N D P A Y M E J t i T S -· CU S D CF D No . 20 0 5 - 1 ('M l i s p e r i n g Hil l s ) : 58 Dr a f t - Un a u d i t e d Page7 FI S C A L YE A R - CO L L E C T I O N OF TA X E S 20 3 1 - 3 2 20 3 2 - 3 3 20 3 3 - 3 4 20 3 4 - 3 5 20 3 5 - 3 6 20 3 6 · 3 7 20 3 7 - 3 8 20 3 8 - 3 9 2039~ ~-~1 CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 3 2 20 3 3 20 3 4 20 3 5 20 3 6 20 3 7 20 3 8 2039 2040 2041 "JJ. AV E M G J ; EIN I : l l ! E I L l!~ J ; C J E I L T, M UN D E V E L O P E D PR O P E R T Y , PE R AC R E $- 0 $.( ) $- 0 $- 0 $.( ) $- 0 $- 0 $-0 $-0 $-0 NO N - R E S I D E N T l A I . PR O P E R T Y , PE R AC R E so so so so $0 $0 so so so so RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $2 0 , 6 5 8 $2 1 , 0 7 1 $2 1 , 4 9 2 $2 1 . 9 2 2 $2 2 , 3 8 1 $2 2 , 8 0 8 $2 3 , 2 6 4 $2 3 , 7 2 9 $24,204 $24,688 CL A S S 2 RE S I D E N T I A L ( > 4, 6 0 0 SF ) $1 2 . 7 8 7 $1 3 , 0 4 2 $1 3 , 3 0 3 $1 3 . 5 6 9 $1 3 , 8 4 1 $1 4 , 1 1 7 $1 4 . ' 1 0 0 $1 4 , 6 8 8 $14,982 $15,281 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4, 6 0 0 SF ) S1 1 , 6 7 2 $1 1 , 9 0 6 $1 2 . 1 « $1 2 . 3 8 6 $1 2 , 6 3 4 $1 2 , 8 8 7 $1 3 , 1 4 5 $1 3 , 4 0 8 $13,676 $13,949 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4,3 0 0 SF ) $1 1 , 3 5 0 s1 1 . s n $1 1 , 8 0 9 $1 2 . 0 4 5 $1 2 , 2 8 6 $1 2 . 5 3 2 $1 2 , 7 8 2 $1 3 . 0 3 8 $13,299 $13,565 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) $1 0 , 5 5 7 $1 0 , 7 6 9 $1 0 , 9 8 4 $1 1 . 2 0 4 $1 1 , 4 2 8 $1 1 . 6 5 6 $1 1 , 8 8 9 $1 2 , 1 2 7 $12.370 $12.617 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3. 70 0 SF ) $1 0 . 3 7 4 $1 0 , 5 8 1 $1 0 , 7 9 3 $1 1 . 0 0 9 $1 1 , 2 2 9 $1 1 . 4 5 3 $1 1 , 6 8 2 $1 1 , 9 1 6 $12.154 $12.397 CL A S S 7 RE S I D E N T I A ( (2 , 9 0 1 - 3,4 0 0 SF ) $9 , 8 6 8 $1 0 , 0 6 5 $1 0 , 2 6 7 $1 0 , 4 7 2 $1 0 , 6 8 2 $1 0 , 8 9 5 $1 1 , 1 1 3 $1 1 , 3 3 5 $11,562 $11,793 CL A S S 8 RE S I D E N T I A L (< : 2, 9 0 0 SF ) $9 . 1 7 9 $9 . 3 8 2 $9 , 5 4 9 $9 , 7 4 0 $9 , 9 3 5 S1 0 , 1 3 4 $1 0 , 3 3 7 $1 0 , S . 3 $10,754 $10,969 VJ. MA X I M U M S~ E C I A L TE I X E S UN D E V E L O P E D PR O P E R T Y (S O ) ($ 0 ) (S O ) (S O ) ($ 0 ) (S O ) (S O ) (SO) (SO) ($0) NO N - R E S I D E N T I A L PR O P E R T Y so so so so $0 so $0 so so so RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S $3 0 9 , 8 6 5 $3 1 6 . 0 6 2 $3 2 2 , 3 8 4 $3 2 8 , 8 3 1 $3 3 5 . 4 0 8 $3 4 2 , 1 1 6 $3 4 8 , 9 5 8 $3 5 5 , 9 3 8 $363.056 $370,317 CL A S S 2 RE S I D E N T I A L (> 4.6 0 0 SF ) $1 4 0 , 6 5 3 $1 4 3 , 4 6 6 $1 4 6 , 3 3 8 $1 4 9 , 2 8 2 $1 5 2 , 2 4 8 $1 5 5 , 2 9 2 $1 5 8 , 3 9 8 $ 1 6 1 , 5 6 6 $184,798 S168,094 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 -4,6 0 0 SF ) $3 5 0 , 1 6 2 S3 5 7 , 1 6 5 $3 8 4 , 3 0 9 $3 7 1 , 5 9 5 $3 7 9 . 0 2 7 S3 8 6 , 6 0 7 $3 9 4 , 3 3 9 $4 0 2 , 2 2 6 $410,271 $418,476 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4,3 0 0 SF ) $1 3 6 , 2 0 4 $1 3 8 , 9 2 8 $1 4 1 , 7 0 7 $1 4 4 , 5 4 1 $1 4 7 , 4 3 2 $1 5 0 , 3 8 0 $1 5 3 , 3 8 8 $1 5 6 , 4 5 6 $159,585 S162,n6 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 - 3,9 0 0 SF ) $2 8 5 , 0 5 2 $2 9 0 , 7 5 3 $2 9 6 , 5 6 8 $3 0 2 . 5 0 0 $3 0 8 , 5 5 0 $3 1 4 , 7 2 1 $3 2 1 , 0 1 5 $3 2 7 . 4 3 5 $333,984 $340,6&4 CL A S S S RE S I D E N T I A L (3 , 4 0 1 -3, 70 0 SF ) $2 0 7 , 4 7 3 $2 1 1 , 6 2 2 $2 1 5 , 8 5 5 $2 2 0 , 1 7 2 $2 2 4 , 5 7 5 $2 2 9 , 0 8 7 $2 3 3 , 6 4 8 $2 3 8 , 3 2 1 $243,088 $247,949 CL A S S 7 RE S I D E N T I A L (2 . 9 0 1 - 3. 4 0 0 SF ) $2 9 6 , 0 4 2 $3 0 1 , 9 6 3 $3 0 8 , 0 0 2 $3 1 4 , 1 6 2 $3 2 0 , 4 4 5 $3 2 8 , 8 5 4 $3 3 3 , 3 9 1 $3 4 0 , 0 5 9 $346,860 $353,797 CL A S S 8 RE S I D E N T I A L ( < = 2. 9 0 0 SF ) $9 1 . 7 8 6 $9 3 . 6 2 2 $9 5 , 4 9 4 $9 7 . 4 0 4 $9 9 , 3 5 2 S1 0 1 , 3 3 9 $1 0 3 , 3 6 6 $1 0 5 , 4 3 4 S107,542 S109,693 ·- - . - - - - - · - - - - - - - - - - - - - - - - - - - · - - - - - - - - · - - - ·- - - - - --·-- TO T A L MA X I M U M SP E C I A L TA X E S $1 , 8 1 7 , 2 3 8 $1 , 8 5 3 , 5 8 2 $1 , 1 9 0 , 6 5 4 $1 , 9 2 8 , 4 6 7 $1 , 9 6 7 , 0 3 6 s: Z . 0 0 6 , 3 n $2 , 0 4 6 , 5 0 5 $2 . 0 8 7 , 4 3 5 $2,129,184 $2,171,767 VII PE B T SE R V I C E CO V E B A G E GR O S S DE B T SE R V I C E CO I I E R A G E FR O M 1S T BO N D AN D 70 UN I T S " 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 ' ) ; 123.22'); 123.22'); GR O S S DE B T SE R V I C E CO I I E R A G E • 11 8 . 2 2 ' ! 1 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 ' ! 1 118.22'!1 118.22% NE T DE B T SE R V I C E CO V E R A G E - 12 0 . 6 6 % 12 0 . 6 1 % 12 0 . 5 6 % 12 0 . 5 2 % 12 0 . 4 7 % 12 0 . 4 3 % 12 0 . 3 8 % 12 0 . 3 4 % 120.30% 12026% • MA X I M U M SP f i C J A L T ~ ~ CF D A I X - . f l N I S T R A T I O N . DiV I D E D B t G R O S S DO J T S & W J C £ •• MA. . U A I U M SI' E D A L T..U ' E S In S CF D A D . I . D N J S T R A T I O N PL U S RE S E R ¥ £ EA R N I N G S . DII ? I D E D Bf GR a S S DE B T S£ R I ' ! C £ CU S D CF D No . 20 0 5 - 1 ('M l l s p e r i n g HiU s ) : 58 Dr a f t - Un a u d i t e d Page8 FIS C A L YE A R - CO L L E C T I O N OF TA X E S 20 o ( 1 .. 2 2< U 2 - < 1 3 20 4 3 - 4 4 20 4 4 - 4 5 20 ( 5 .. 6 20 4 6 .. 7 TO T A L CA L E N D A R YE A R • PA Y M E N T S TO BO N D HO L D E R S 20 4 2 20 4 3 20 4 - 4 20 ( 5 2< U 6 20 4 7 I. CF D BO N D E D IN D E B T E D N E S S CU S D OT H E R FA C I L I T I E S so so $0 $0 so $0 $2 , 4 6 3 , 5 7 8 IN C R E M E N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S I S I T E $0 $0 $0 $0 so so S5 , 2 9 8 , 6 5 6 CI T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S $0 $0 $0 $0 so so S3 . 3 8 4 . 0 8 1 OT H E R CIT Y FA C I L I T I E S $0 $0 so so $0 $0 $4 5 6 , 7 3 8 - - - - - - - - - - - - - · - - - - TO T A L FI N A N C E D PU B L I C FA C I L I T I E S $0 $0 so so so $0 S1 1 , 6 0 5 , 0 2 9 TO T A L BO N D E D IN D E B T E D N E S S $0 $0 so $0 $0 $0 S1 5 , 3 2 0 , 0 0 0 II Al l S Q B e D Q ~ - lll ! I L O I ~ ! i ~B M I I S (A l i 2( ll l l ' UN D E V E L O P E D PR o P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) 0. 0 0. 0 NA DE V E L O P E D NO N - R E S I D E N T I A l PR O P E R T Y CU M U L A T I V E N< m - R E S I O E N T I A L AC R E A G E 0. 0 0. 0 0. 0 0.0 0.0 0.0 NA DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 NA CL A S S 2 RE S I D E N T I A L ( > 4,6 0 0 SF ) 11 11 11 11 11 11 NA CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 -4,6 0 0 SF ) 30 30 30 30 30 30 NA CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 -4 , 3 0 0 SF ) 12 12 12 12 12 12 NA CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 • 3,9 0 0 SF ) 27 27 27 27 27 27 NA CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 - 3,7 0 0 SF ) 20 20 20 20 20 20 NA CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3.4 0 0 SF ) 30 30 30 30 30 30 NA _£ _ ~ - - - ' 3 _ ~ ~ ~ ~ ~ 3 - 9 < M ! _ S F ) _ _ _ _ 10 10 10 10 10 10 NA CU M U L A T I V E RE S I D E N T I A L UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 NA • eu . t o m tlo r n o h be s e d up o n Jln d Nl e a , ta u . . tt. n Wid i n g pe n n l t a Ill . ME L L Q - R Q ( ) S SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S so $0 $0 $0 so $0 so NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S so so $0 $0 so so so RE S I D E N T I A l PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S $3 7 7 , 7 2 4 $3 8 5 , 2 7 6 $3 0 1 , 4 1 8 $4 0 0 , 8 4 3 $4 0 8 , 8 6 0 S2 4 7 , 3 7 ! ; $9 , 4 9 5 , 9 7 3 CL A S S 2 RE S I D E N T I A L (> 4,6 0 0 SF ) $1 7 1 , 4 5 5 $1 7 4 , 8 8 5 $1 3 6 , 8 1 9 $1 8 1 , 9 5 0 S1 8 5 , 5 6 9 $1 1 2 , 2 8 8 $4 , 4 4 8 , 4 8 8 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 • 4,6 0 0 SF ) $4 2 6 , 8 4 6 $4 3 5 , 3 8 3 $3 4 0 , 6 1 6 $4 5 2 . 9 7 2 $4 6 2 , 0 3 2 $2 7 9 . 5 4 8 S1 1 , 0 8 6 , 6 5 0 CL A S S 4 RE S I D E N T I A l (3 , 9 0 1 -4.3 0 0 SF ) S1 6 6 , 0 3 2 S1 6 9 , 3 5 3 S1 3 2 , 4 9 1 S1 7 6 . 1 9 4 S1 7 9 , 7 1 8 S1 0 8 . 7 3 6 $4 , 2 9 6 , 6 1 2 CL A S S 5 RE S I D E N T I A L (3 , 7 0 1 • 3,9 0 0 SF ) S3 4 7 , 4 7 7 $3 5 4 , 4 2 7 S2 7 7 . 2 8 1 $3 6 6 , 7 4 5 $3 7 6 , 1 2 0 S2 2 7 . 5 6 7 $9 , 1 0 6 , 4 2 8 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 -3,7 0 0 SF ) $2 5 2 , 9 0 8 $2 5 7 , 9 6 6 $2 0 1 , 8 1 7 $2 6 8 , 3 8 8 $2 7 3 , 7 5 6 S1 6 5 , 6 3 3 $6 , 6 7 7 , 0 3 0 CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 -3,4 0 0 SF ) $3 6 0 , 8 7 3 $3 6 6 , 0 9 1 S2 8 7 , 9 7 1 $3 8 2 , 9 6 2 S3 9 0 , 6 2 1 S2 3 6 , 3 4 0 S9 , 4 4 0 , 13 4 CL A S S 8 RES I D E ~ ~ _ ( _ ~ = 2.~ ~ f ' ! _ _ _ _ _ $1 1 1 , 8 8 7 S1 1 4 . 1 2 5 S8 9 . 2 8 4 S1 1 8 , 7 3 5 $1 2 1 , 1 1 0 S7 3 , 2 7 6 $2 , 9 5 0 , 6 4 9 - - - - TO T A L SP E C I A L TA X E S $2 , 2 1 5 , 2 0 3 $2 , 2 5 9 , 5 0 7 $1 , 7 6 7 , 6 9 7 $2 , 3 5 0 , 7 9 1 $2 , 3 9 7 , a o & $1 , 4 5 0 , 7 6 3 $5 7 , 4 8 2 , 1 4 - 4 IV . 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J A I . ~~E C I A I . !A X UN D E V E L O P E D PR O P E R T Y , PE R AC R E $- 0 $- 0 $-0 $- 0 $- 0 $0 NA NO N - R E S I D E N T I A L PR O P E R T Y , PE R AC R E $0 $0 $0 so $0 $0 NA RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $2 5 , 1 8 2 $2 5 . 6 8 5 $2 0 , 0 9 5 $2 6 . 7 2 3 $2 7 , 2 5 7 $1 6 , 4 9 2 NA CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) $1 5 , 5 8 7 $1 5 . 8 9 9 $1 2 , 4 3 8 $1 6 , 5 4 1 $1 6 , 8 7 2 $1 0 , 2 0 8 NA ClA S S 3 RE S I D E N T I A L (4 , 3 0 1 - 4, 6 0 0 SF ) $1 4 , 2 2 8 $1 4 , 5 1 3 $1 1 , 3 5 4 $1 5 , 0 9 9 $1 5 , 4 0 1 $9 , 3 1 8 NA CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 - 4. 3 0 0 SF ) $1 3 , 8 3 6 $1 4 , 1 1 3 $1 1 . 0 4 1 $1 4 . 6 8 3 $1 4 , 9 7 7 $9 , 0 6 1 NA CL A S S 5 RE S I D E N T I A L (3 . 70 1 - 3. 9 0 0 SF ) $1 2 , 8 7 0 $1 3 , 1 2 7 $1 0 . 2 7 0 $1 3 . 6 5 7 $1 3 , 9 3 0 $8 , 4 2 8 NA CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 • 3, 7 0 0 SF ) $1 2 . 6 4 5 $1 2 . 8 9 8 $1 0 , 0 9 1 $1 3 , 4 1 9 $1 3 , 6 8 8 $8 , 2 8 2 NA CL A S S 7 RE S I D E N T I A L (2 , 9 0 1 • 3, 4 0 0 SF ) $1 2 . 0 2 9 $1 2 . 2 7 0 $9 , 5 9 9 $1 2 , 7 5 5 $1 3 , 0 2 1 $7 , 8 7 8 NA CL A S S 8 RE S I D E N T I A L ( < = 2, 9 0 0 SF ) $1 1 , 1 8 9 $1 1 , 4 1 2 $8 , 9 2 8 $1 1 , 8 7 4 $1 2 . 1 1 1 $7 , 3 2 8 NA Y.1 MA X I M U M SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y ($ 0 ) ($ 0 ) (S O ) (S O ) ($ 0 ) so $4 , 6 1 3 . 4 8 7 NO N - R E S I D E N T I A L PR O P E R T Y $0 $0 so $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y CL A S S ! CU S T O M HO M E S $3 7 7 , 7 2 4 $3 8 5 . 2 7 8 $3 9 2 , 9 8 4 $4 0 0 , 8 4 3 $4 0 6 . 8 6 0 $4 1 7 , 0 3 8 $9 , 7 5 7 , 2 0 1 CL A S S 2 RE S I D E N T I A L (> 4, 6 0 0 SF ) $1 7 1 , 4 5 5 $ 1 7 4 , 8 8 5 $ 1 7 8 , 3 8 2 $1 8 1 , 9 5 0 $1 8 5 . 5 8 9 $1 8 9 , 3 0 1 $4 , 5 6 7 , 0 4 4 CL A S S 3 RE S I D E N T I A L (4 , 3 0 1 • 4,6 0 0 SF ) $4 2 6 , 8 4 6 $4 3 5 , 3 8 3 $4 4 4 , 0 9 0 $4 5 2 , 9 7 2 $4 6 2 , 0 3 2 $4 7 1 , 2 7 2 $1 1 . 3 6 2 . 0 5 0 CL A S S 4 RE S I D E N T I A L (3 , 9 0 1 • 4,3 0 0 SF ) $1 6 8 , 0 3 2 $1 6 9 , 3 5 3 $1 7 2 , 7 4 0 $1 7 6 , 1 9 4 $1 7 9 , 7 1 8 $1 8 3 , 3 1 3 $4 , 4 1 1 , 4 3 7 Cl. A S S 5 RE S I D E N T I A L (3 , 7 0 1 · 3, 9 0 0 SF ) $3 4 7 , 4 7 7 $3 5 4 , 4 2 7 $3 6 1 , 5 1 5 $3 6 8 , 7 4 5 $3 7 6 . 1 2 0 $3 8 3 , 6 4 3 $9 , 3 4 6 , 7 3 8 CL A S S 6 RE S I D E N T I A L (3 , 4 0 1 • 3.7 0 0 SF ) $2 5 2 . 9 0 6 $2 5 7 , 9 6 6 $2 6 3 . 1 2 6 $2 6 8 , 3 8 8 $2 7 3 , 7 5 6 $2 7 9 . 2 3 1 $6 , 8 5 1 , 9 3 7 Cl. A S S 7 RE S I D E N T I A L (2 , 9 0 1 - 3,4 0 0 SF ) $3 6 0 , 8 7 3 $3 6 8 , 0 9 1 $3 7 5 , 4 5 3 $3 8 2 , 9 6 2 $3 9 0 , 6 2 1 $3 9 8 , 4 3 3 $9 , 6 8 9 , 7 0 9 CL A S S 8 RE S I D E N T I A L ( < = 2. 9 0 0 SF ) $1 1 1 , 8 8 7 $1 1 4 , 1 2 5 $1 1 6 , 4 0 7 $1 1 8 , 7 3 5 $1 2 1 . 1 1 0 $1 2 3 , 5 3 2 $3 . 0 2 8 , 0 2 9 - - - - - - - - - - - - - - - - - - - - - TO T A L MA X I M U M SP E C I A L TA X E S $2 , 2 1 5 , 2 0 3 $2 , 2 5 9 , 5 0 7 $2 , 3 0 4 , 6 9 7 $2 , 3 5 0 , 7 9 1 $2 . 3 9 7 , 1 0 6 $2 , 4 < 4 5 , 7 6 3 $6 3 , 6 2 7 , 6 3 1 VU PE B I SE R I I J C E CO I ! f R A G E GR O S S DE B T SE R V I C E CO V E R A G E FR O M 1S T BO N D AN D 70 UN I T s • 12 3 . 2 2 % 12 3 . 2 2 % 12 3 . 2 2 % NA NA NA NA GR O S S DE B T SE R V I C E CO V E R A G E • 11 8 . 2 2 % 11 8 . 2 2 % 11 8 . 2 2 % 18 5 . 9 2 % 18 5 . 9 2 % 18 5 . 9 2 % NA NE T DE B T SE R V I C E CO V E R A G E - 12 0 . 2 2 % 12 0 . 1 8 % 12 0 . 1 4 % 18 7 . 8 5 % 18 7 . 8 1 % 18 7 . 7 8 % NA • AIA X J A f U M JP E . 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DIV J D £ D BY GR O S S D£ H T Sg : j f V J C E EXHIBITC DESCRIPTION OF CITY FACILITIES The following improvements are eligible City Facilities: CITY FEE FACILITIES Traffic Mitigation Fee (CCFP) Park Fee San Juan AG Preserve Fee San Juan Water Capacity Fee San Juan Water Meter San Juan Water Capital Improvement Charge San Juan Water Storage Fee San Juan Drainage Fee San Juan Fee Ordinance 211 San Juan Ordinance 364 San Juan Sanitation District (Sewer) Fee SUBTOTAL CITY ACQUISITION FACILITIES (Detailed description attached) Vista Montana Improvements Sewer Water Reclaimed Water Storm Drain SUBTOTAL ADDITIONAL CITY FACILITIES1> GRAND TOTAL PAID TO DATE 7,387 1,798,000 500 578,232 31,000 311,240 217,000 862.41 115 3,522 4301.46 2,952,160 COMPLETED PRIOR TO 1/1/09 2,328,431 263,120 743,475 272,276 2,031,054 5,638,356 8,590,516 TO BE PAID 1,137,598 77,000 132,811 17,710 646,478 662,425 2,674,022 TOBE COMPLETD 2009-2015 2,000,000 1,200,000 400,000 3,600,000 8,057,767 TOTAL 1,144,985 1,798,000 77,500 578,232 31,000 311,240 217,000 133,674 17,825 650,000 666,726 5,626,182 TOTAL 2,328,431 2,263,120 1,943,75 672,276 2,031,054 9,238,356 1,783,745 16,648,282 I> City to receive amount equal to 12% of all disbursements for City Facilities to be used for Additional Facilities. C-1 EXHIBITD DISBURSEMENT REQUEST FORM CITY OF SAN JUAN CAPISTRANO/CFD NO. 2005-1 WHISPERING HILLS PLANNED COMMUNITY Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) '("CFD No. 2005-1 ") is hereby requested to pay from the City Facilities Account established by the Indenture described in the F/A Agreement among the Parties ("Indenture") ofCFD No. 2005-1 in connection with its CFD No. 2005-1 First Series and Second Series Special Tax Bonds ("Bonds"), to the City of San Juan Capistrano ("City"), as Payee, the sum set forth below in payment of City Facilities described below. The undersigned certifies that the amount requested has been expended or encumbered for the purposes of constructing and completing City Facilities. The amount requested is due and payable under, or is encumbered for the purpose of funding, a purchase order, contract or other authorization with respect to the project costs described below and has not formed the basis of prior request or payment. The City agrees to trace and remit to CFD No. 2005-1 all earnings, if any, in excess of the yield on the Bonds accruing from the investment of the amounts requested herein, from the date of receipt by the City of such amounts to the date of expenditure of such amounts by payment thereof to a third party for the costs set forth below. Such remittance, if any, shall be made each year on the earlier of the expenditure of such amounts or the anniversary date of the transfer of the requested amounts by CFD No. 2005-1 to the City. Description of corresponding City Facilities: Amount requested: $ ____ _ The amount of$ is authorized and payable pursuant to the terms of the First Amended and Restated Joint Community Facilities Agreement among Capistrano Unified School District, Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills), the City of San Juan Capistrano, Rancho San Juan Development LLC and Whispering Hills LLC, dated as of 1, 2011. Executed by an authorized representative ofthe City of San Juan Capistrano. By: Name: Title: Dated: Request No.: __________ _ Attest: D-1 EXHIBITD-1 FORM OF ACQUISITION FACILITY(IES) PAYMENT REQUEST The undersigned, hereby requests payment in the total amount of $ as the Acquisition Price of the Acquisition Facility(ies) (as defined in the First Amended and Restated Joint Community Facilities Agreement by and among Capistrano Unified School District Community Facilities District No. 2005-1 (Whispering Hills), City of San Juan Capistrano ("City"), Rancho San Juan Development LLC, and Whispering Hills, LLC dated as of ___ _ 1, 2011 ("F/A JCFA") more fully described in Attachment 1 hereto. In connection with this Payment Request, the undersigned hereby represents and warrants to the City as follows: 1. He( she) is a duly authorized officer of the undersigned, qualified to execute this Payment Request for payment on behalf of the undersigned and is knowledgeable as to the matters set forth herein. 2. All costs of the Acquisition Facility(ies) for which payment is requested hereby are actual costs and have not been inflated at any respect. The actual costs for which payment is requested have not been the subject of any prior disbursement request submitted to Community Facilities District No. 2000-1 of the Capistrano Unified School District (the "CFD"). 3. Supporting documentation (such as third party invoices, lien releases and cancelled checks or other evidence of payment) is attached with respect to each cost for which payment is requested. 4. The Acquisition Facility(ies) for which payment is requested was constructed in accordance with the requirements ofthe F/A JCFA. 5. The undersigned is in compliance with the term and provisions of the F/A JCFA and no portion of the amount being requested to be paid was previously paid. 6. The Acquisition Price for the Acquisition Facility(ies) has been calculated in conformance with the terms ofthe FIA JCFA. 7. Please authorize payment ofthe Acquisition Price by CFD No. 2005-1 to the following entity(ies), if other than the undersigned, in the amounts or percentages indicated: [Insert names of payees and amounts or percentages] D-1-1 I declare under penalty of perjury that the above representations and warranties are true and correct. Dated: Dated: D-1-2 RANCHO SAN JUAN DEVELOPMENT LLC By: Its: CITY OF SAN JUAN CAPISTRANO Payment Request Approved for Submission to CFD By: Its: ATTACHMENT 1 SUMMARY OF ACQUISITION FACILITY(IES) TO BE ACQUIRED AS PART OF PAYMENT REQUEST Acquisition Facility(ies) Actual Costs Disbursement Requested [List here all Acquisition Facility(ies) which payment is requested, and attach support documentation] RESOLUTION NO. 11-06-07-06 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, APPROVING A FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT, AN AGREEMENT REGARDING ACCESS EASEMENT AND AN ACCESS EASEMENT; MAKING CERTAIN DETERMINATIONS RELATING THERETO; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH AND CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1_ OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS) WHEREAS, the City of San Juan Capistrano (the "City") is a municipal corporation duly organized and validly existing under the laws of the State of California; and WHEREAS, the City, the Capistrano Unified School District (the "School District"), the Community Fac'ilities District No. 2005-1 of Capistrano Unified School ·District (Whispering Hills) (the "CFD") and Whispering Hills, LLC, a Delaware limited liability company ("Prior Owner") have previously executed a Joint Community Facilities Agreement, dated as of July 1, 2005 ("JCFA") with respect to the CFD; and WHEREAS, Rancho San Juan Development LLC, a Delaware limited liability company (the "Landowner"), the successor in interest to the Prior Owner, has requested that the School District take certain action with respect to the CFD, which action also require amending the JCFA; and WHEREAS, there have been presented at this meeting a form of First Amended and Restated Joint Community Facilities Agreement (the "Amended JCFA"), among the City, the School District, the CFD, the prior Owner and the Landowner; and WHEREAS, in partial consideration for the City to enter into the Amended JCFA, the Landowner proposes to grant the City a nonexclusive easement and right of way over certain property of the Landowner to provide ingress and egress to certain City property, pursuant to an Access Easement between the City and the Landowner (the "Access Easement") and an Agreement Regarding Access Easement between the City and the Landowner (the "Easement Agreement"}, copies of which have been presented at this meeting . NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Juan Capistrano does hereby find as follows: Section 1: Approval of Amended JCFA. The form of Amended JCFA, as presented to this meeting (Exhibit A), is hereby approved. The Mayor or City Manager (or their designated representative}, each acting alone (collectively the "Officers"), are hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver the Amended JCFA, in substantially the form presented to this meeting, with such changes therein as such Officers may require or approve, with the advice and 1 6/7/11 approval of the City Attorney and Nossaman LLP ("Special Counsel"), such approval to be conclusively evidenced by the execution and delivery thereof. . Section 2: Approval of Easement Agreement and Access Easement. The forms of Easement Agreement and Access Easement, as presented at this meeting (Exhibit 8), are hereby approved. The Officers are hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver the Easement Agreement and Access Easement, in substantially the forms presented at this meeting, with such changes therein as such Officers may require or approve, with the advice and approval of the City Attorney and Special Counsel, such approval to be conclusively evidenced by the execution and delivery thereof. Section 3: Other Acts. The Officers and staff of the City are hereby authorized and directed, jointly and severally, to do any and all things, to execute and deliver any and all documents, which in consultation with Special Counsel, they may deem necessary or advisable in order to effectuate the purposes of this Resolution, and any and all such actions previously taken by such Officers or staff members are hereby ratified and confirmed. Section 4: Effective Date. This Resolution shall take effect upon adoption. PASSED, APPROVED, AND ADOPTED this ih day of June, 2011. 2 6/7111 STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss. CITY OF SAN JUAN CAPISTRANO ) I, MARIA MORRIS, appointed City Clerk of the City of San Juan Capistrano, do hereby certify that the foregoing Resolution No. 11-06-07-01 was duly adopted by the Ci~ Council of the City of San Juan Capistrano at a Regular meeting thereof, held the i day of June 2011, by the following vote: COUNCIL MEMBERS: Freese, Reeve, Taylor, Kramer and Mayor Allevato COUNCIL MEMBER: None CO CIL EMBER: None 3 6/7/11 FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT among CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHOSANJUANDEVELOPMENTLLC FINAL 5131111 and WIDSPERING HILLS, LLC 158190.6 EXHIBIT A FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING ffiLLS, LLC THIS FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005·1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING HILLS, LLC. ( "F/A JCFA") dated this _day of ___ , 2011, by and among the CAPISTRANO UNIFIED SCHOOL DISTRICT, of Orange County, California, a school district organized under the laws of the State of California ("School District" and "State"), COMMUNITY FACILITIES DISTRICT NO. 2005-1 (WHISPERING HILLS), a community facilities district formed and operating pursuant to State laws including the Act (as defmed below) ("CFD No. 2005-1 "),the CITY OF SAN JUAN CAPISTRANO, a general law city ("City"), RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("Landowner") and WHISPERING HILLS, LLC, a Delaware limited liability company ("Prior Owner"), individually "Party" and in some instances referred to herein collectively as the "Parties." RECITALS A. The City, School District and Landowner's predecessor-in-interest, Prior Owner, entered into that certain Joint Community Facilities Agreement among Capistrano Unified School District and City of San Juan Capistrano and Whispering Hills, LLC relating to Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) as of July 1, 2005 ("JCFA"), with respect to proposed CFD No. 2005-1. CFD No. 2005~1 has now been formed, pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Government Code Section 53311 et seq. ("Act"), as to the property described on Exhibit "A" ("Property"), and is added hereto as a Party. Prior Owner has assigned the JCFA to Landowner, and the Property is included in CFD No. 2005-1. B. Landowner has requested that CFD No. 2005-1 conduct proceedings to consider reducing the "Special Taxes" ofCFD No. 2005.1, pursuant to the Act, which proceedings are now pending ("Sff Revision Proceedings"), and if completed as proposed by Landowner, will reduce the Special Taxes and the amount of bonds to be issued by CFD No. 2005-1. In conjunction with the Sff Revision Proceedings, the School District, CFD No. 2005-1, Landowner, and Prior Owner expect to enter into a First Amended Impact Mitigation Agreement related to the Whispering Hills Project and Community Facilities District No. 2005-1 ("F/A Agreement"), which will, among other matters, specify the parameters for issuance of two series of bonds of CFD No. 2005-1 ("Bonds") to finance School Facilities as described and defined in the F/A Agreement, payment of the "Incremental Payment Obligation" provided for in the F/A Agreement and City Facilities (defined below). The City, School District, CFD No. 2005-1, Prior Owner and Landowner intend to enter into this F/A JCFA to supersede the JCFA concurrent with the execution of the F/A FINAL 5/31/11 2 158190.6 Agreement. This F I A JCF A shall become effective ("Effective Date") on the same conditions and date as the F/A Agreement. C. Landowner is the owner and developer of the Property and has obtained the necessary development approvals ("City Entitlements") to construct approximately 155 residential "Dwelling Units" on the Property ("Project"), and to provide the required infrastructure for such Dwelling Units, as described in Exhibit "B" prepared by David Taussig & Associates ("Special Tax Administrator for CFD No. 2005-1 ") based on information provided by Landowner. CFD No. 2005-1 has been authorized, pursuant to the Act, to finance School Facilities as described in the F/A Agreement, certain roadway, water, sewer, storm drain and other public improvements that are included in City fee programs described in Exhibit "C" hereto ("City Fee Facilities") and other improvements, described on Exhibit "C" that have been constructed by the Prior Owner, or in the future may be constructed by Landowner and acquired by City, to be owned and operated by the City ("Acquisition Facility(ies)"). The City Fee Facilities are to be provided in lieu of the payment of certain fees imposed by the City as a condition of development of the Project ("City Fees"). Additional capital improvements of the City that are to be constructed by the City and that relate to needs created by development of the Project may also be financed through CFD No. 2005-1 ("Additional City Facilities"). The Additional City Facilities, together with the Acquisition Facility(ies) and City Fee Facilities, are collectively referred to herein as the "City Facilities." Proceeds of Special Taxes and Bonds to be provided to City for City Facilities shall be provided pursuant to this F/A JCFA, so long as consistent with applicable law, including the Act, federal law relating to use of proceeds of tax-exempt bonds for capital facilities, not services, maintenance or repair, and Landowner shall comply with the applicable provisions of Article 2 (commencing with Section 1770) of Chapter 1 of Part 7 of Division 2 of the Labor Code ("Labor Compliance Requirements" and "LCR"). D. The cost of the School Facilities was determined at the time of formation of CFD No. 2005-1 to be funded by a larger share of the proceeds of the Special Taxes and Bonds ofCFD No. 2005-1 than the City Facilities. Such is determined to be the case as to this F/A JCFA, therefore the School District was determined, and is hereby determined, to be the governing body for the administration, levy of Special Taxes, and issuance of Bonds of CFD No. 2005-1. E. The provision of the School Facilities and the City Facilities is necessitated by the development of the Project within CFD No. 2005-1 and the Parties hereto find and determine that the residents of the City, the School District, and CFD No. 2005-1 will be benefited by the construction and/or acquisition of the City Facilities and the School Facilities, and as such, this F/A JCFA is beneficial to the interests of such residents of the City and the School District. F. The Parties hereto intend to have CFD No. 2005-1, to the extent provided in the FIA Agreement and this F/A JCFA, assist in funding the City Facilities based on amounts which will vary depending on the interest rate at which the Bonds are issued as shown on Exhibit "B" and as provided in the F/A Agreement and applicable law, including the Act and federal law pertaining to use of proceeds of the Bonds. G. The City is authorized by Section 53313.5 of the Act to assist in the financing of the acquisition and/or construction of the City Facilities and the School District is authorized to assist in the financing ofthe School Facilities. This Agreement constitutes an amended joint community facilities agreement, within the meaning of Section 53316.2 ofthe Act, by and among the City, FINAL 5/31/11 3 158190.6 Prior Owner, Landowner, CFD No. 2005-1, and the School District, pursuant to which CFD No. 2005-1 was and is authorized to finance the construction and/or acquisition of the City Facilities to the extent and as provided in this F/A JCFA and the F/A Agreement. As authorized by Section 53316.6 of the Act, responsibility for constructing, providing and operating the School Facilities is agreed to be the function of the School District and responsibility for constructing, providing for and operating the City Facilities is agreed to be the function of the City. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 1. Recitals. Each of the above recitals is incorporated herein and is true and correct. 2. Sff Revision Proceedings. At the request of Landowner, CFD No. 2005-1 has initiated proceedings to consider reducing the Special Taxes of CFD No. 2005-1. 3. Sale of Bonds and Use of Proceeds. (a) The issuance and sale of Bonds and allocation of proceeds of the Special Taxes of CFD No. 2005-1 and proceeds of the Bonds shall be as set forth in the F/A Agreement and this F/A JCFA. CFD No. 2005-1 shall maintain records consistent with generally accepted accounting procedures as determined by CFD No. 2005-1 relating to the disbursements of proceeds ofthe Special Taxes and the proceeds of the sale of each series of the Bonds. (b) Pursuant to the F/A Agreement, Special Taxes shall be levied on property within CFD No. 2005-1 prior to the issuance of all Bonds of CFD No. 2005-1 to finance School Facilities and City Facilities. Of the amount of such Special Taxes collected by CFD No. 2005-1 and deposited in the "Special Fund" established pursuant to the F/A Agreement, 60% shall be disbursed to finance School Facilities and 40% shall be disbursed to finance City Facilities. On the first business day following each April 1 funds in the Special Fund as of March I, and October 1 funds in the Special Fund as of September I, CFD No. 2005-1 shall be disbursed to City an amount equal to 40% of the amount then on deposit in the Special Fund. Of such amount disbursed to the City, 88% shall be disbursed by City in the priority specified in Section 4(c) below and 12% shall be used by the City to fund Additional City Facilities. (c) Each series of Bonds shall be issued pursuant to a fiscal agent agreement, trust indenture or similar document ("Indenture"). The Indenture shall establish a City Facilities Account ("City Facilities Account") into which the proceeds of each series of Bonds (to the extent provided in the F/A Agreement) shall be deposited to fmance all or a portion of the City Facilities listed in Exhibit C, in the amounts and to tlie extent provided in the F/A Agreement. Landowner acknowledges that City shall not be liable for CFD No. 2005-1 's failure to issue Bonds or the failure to issue Bonds in an amount sufficient to pay for all or any part of the School Facilities and City Facilities. In no event will an act, or an omission or failure to act, excepting only an event of willful misconduct, by the City with respect to the disbursement or nondisbursement of funds pursuant to this F/A JCFA or by CFD No. 2005-1 with respect to the provision of any other funding for the School Facilities or the City Facilities subject the City to liability hereunder. FINAL 5/31/11 4 158190.6 4. Disbursements. (a) Landowner acknowledges that neither the City, School District nor CFD No. 2005-1 has any obligation to pay any amount with respect to City Facilities except as to the amount available in the Special Fund and City Facilities Account from time to time, regardless of the cost of the City Facilities, nor will the unavailability of such funds reduce the amounts owed by Landowner to City with respect to City Facilities. The proceeds of the Bonds designated for the City Facilities, to the extent provided in the F/A Agreement and this F/A JCFA, shall be held by the fiscal agent or trustee for the Bonds ("Fiscal Agent") in the City Facilities Account, which shall be a separate account. Funds in the City Facilities Account shall be invested by the Fiscal Agent, as determined by the Fiscal Agent, and earn and accumulate interest thereon as provided in the applicable Indenture. Funds in the City Facilities Account shall be available to finance the City Facilities, as provided for in this F/ A JCF A, except to the extent CFD No. 2005-1 determines interest earnings must be rebated to the United States in accordance with the Internal Revenue Code of 1986, as amended. Landowner agrees that City shall be entitled to receive an amount equal to 12% of the total amount deposited in the City Facilities Account with respect to each series of Bonds for Additional City Facilities ("Additional City Facilities Amount"). City agrees that the provisions of this F/A JCFA with respect to the funding to be provided from the Special Fund and City Facilities Account for Additional City Facilities shall fully satisfy the provisions of Section 6.7 of that certain "Amended Development Agreement for Whispering Hills Estates" by and between the City and Landowner dated July 16, 2009. The foregoing has no applicability to School District nor CFD No. 2005-1. (b) The Fiscal Agent shall make disbursements to City from the City Facilities Account in accordance with the terms of this F/A JCFA and the Indenture. Neither the School District nor CFD No. 2005-1 shall be responsible to the City for costs incurred by the City as a result of withheld or delayed payments. (c) The City agrees that prior to requesting payment from CFD No. 2005-1 relating to City Fee Facilities and Additional City Facilities it shall review, verify, and approve all costs included in its request and (a) will have already paid such costs of City Fee Facilities and Additional City Facilities from its own funds or shall have prepared a check for disbursement which will be mailed or hand delivered within 48 hours of receipt ofCFD No. 2005-1 funds, (b) or will have already encumbered the funds requested and will trace and remit to CFD No. 2005-1 all earnings, if any, by the City in excess of the yield on the applicable Bonds accruing from the investment of the proceeds ofthe Bonds requested, from the date of receipt of such proceeds by the City to the date of expenditure by the City of such proceeds for verified legitimate capital costs of the City Fee Facilities or Additional City Facilities as herein described, and (c) City Fee Facilities and Additional City Facilities for which payment is requested, pursuant thereto were or will be constructed in accordance with applicable law, including the LCR to the extent the City determines it is applicable. Such remittance, if any, shall occur on the earlier of the date of expenditure of such proceeds or each anniversary date of the transfer of such proceeds from CFD No. 2005-1 to the City. The City agrees that in processing the above disbursements it will comply with all applicable law for the expenditure of Bond proceeds including the Act, as amended, the Internal Revenue Code of 1986, and any amendments thereto. Prior Owner and Landowner have advanced to the City amounts for certain City Fee Facilities pursuant to the JCFA, as specified in Exhibit "C." Consequently, as between Landowner and City, the first priority for the disbursement of funds received from the Special Fund in accordance with Section 3(b) above and from the City Facilities FINAL 5/31/11 5 IS8190.6 Account shall be those amounts previously advanced, amounts attributable to the Additional City Facilities as provided herein, and upon City's receipt of the disbursement of funds from the City Facilities Account and the Special Fund, Landowner shall be reimbursed and repaid for its prior advances by the City in an amount equal to 88% of such disbursements and City shall retain 12% of such disbursement for Additional City Facilities. If Landowner or its' designee is required to advance additional funds to the City for City Fee Facilities to the extent herein provided prior to the availability of sufficient funds in the Special Fund or the City Facilities Account, such advances shall be reimbursed by City to Landowner at the time, and only to the extent, funds in an equal amotmt are disbursed to the City for City Fee Facilities in satisfaction of the corresponding City Fees from the Special Fund or City Facilities Account. City and Prior Owner acknowledge that the City has no obligation to reimburse the Prior Owner for any amounts provided for in this F/AJCFA. (d) The City agrees to maintain adequate internal controls over its payment function and to maintain accounting records in accordance with generally accepted accounting procedures. The City will, upon request, provide to CFD No. 2005-1 its annual fmancial report · certified by an independent certified public accountant for purposes of calculating CFD No. 2005-1 's arbitrage rebate obligations, if any. CFD No. 2005-1 shall have the right to conduct its own audit of the City's records at reasonable times and during normal business hours. (e) Upon receipt of Landowner's written request, the City shall submit a request for payment for City Fee Facilities to CFD No. 2005-1 to send to the Fiscal Agent, which shall be in the form attached hereto as Exhibit "D", shall be signed on behalf of CFD No. 2005-1 by the Deputy Superintendent, Business Support Services of School District or written authorized designee and by the City Manager or written authorized designee of City, and shall be for the exact amount paid or encumbered or to be disbursed as provided in paragraph (c) above by the City for City Fee Facilities costs. At the same time as the City submits a payment request to CFD No. 2005-1 pursuant to this Section 4(e) or a payment request pursuant to Section 5(d) below, it may also submit a payment request for Additional City Facilities to the extent, and as limited by this F/A JCFA, including not by way of limitation, Recital C above and Exhibit "C," in an amount equal to 25% of the amount in such other payment request, but only until the amount disbursed to the City with respect to the applicable series of Bonds equals the Additional City Facilities Amount. Upon receipt of an approved payment request by CFD No. 2005-1 and City completed in accordance with the terms of this F/A JCFA, the Fiscal Agent shall wire transfer such portion of requested funds as are then available for release from the City Facilities Account pursuant to the Indenture to the City's bank account, as directed by the City. If there are insufficient funds available in the City Facilities Account to pay the entire amount requested, the unfunded amount shall be paid as soon as possible following the deposit of additional funds in the City Facilities Account. If more than one payment request has been submitted, the Fiscal Agent shall make payment on all payment requests from available funds in proportion to the total amount submitted. (f) The provisions of this F/A JCFA shall in no way relieve the Landowner from the payment of any fees charged by the City, nor does any provision of this F/A JCFA constitute deferral or any fee or facility required to be paid or provided by the Landowner with respect to the development of the Property when otherwise due under the policies and procedures of the City. If the City Fees which would otherwise be due to the City from the Project ultimately are determined to be less than the amounts, if any, deposited in the City Facilities Account, the Landowner shall not be entitled to any rebate or other credit or consideration, it being intended that FINAL 5/31/11 6 IS8190.6 the amount deposited in the City Facilities Account be applied solely as a credit up to the amount of the total City Fees otherwise due with respect to the Project, and the Landowner bears the risk that the total of such City Fees are less than the amount deposited in the City Facilities Account. Any deposit to the City Facilities Account shall in no way fix the amount of the City Fees due with respect to the Project, and any increase in City Fees from and after the date of this F/A JCFA shall be taken into account in determining the amount of the credit to be given pursuant to this F/A JCFA, except as may have otherwise been agreed to by the City and the Landowner. If the total City Fees due with respect to the Project are greater than the amounts, if any, deposited to the City Facilities Account, the excess shall be charged to the Landowner in the same manner that such City Fees would be charged by the City in the absence of this F/A JCFA. This F/A JCFA shall in no way be construed as a deferral of any City Fee otherwise due with respect to the Project and amounts remaining in the City Facilities Account when it is closed, if any, shall be transferred as provided in Section 8.4 of the F/A Agreement. 5. City Acquisition of Acquisition Facility(ies). (a) Plans and Specifications. Landowner shall be responsible for the preparation of the plans and specifications ("Plans and Specifications") for each Acquisition Facility(ies) described in Exhibit C, which shall relate to the need created by development of the Project. The Plans and Specifications shall conform to the requirements of the City for the Acquisition Facility(ies) and shall be subject to the review and approval by the City. (b) Construction and Inspection of the Acquisition Facility(ies). Each Acquisition Facility(ies) shall be constructed in accordance with the Plans and Specifications as approved by the City. Landowner shall be solely responsible for the bidding, contracting and construction of the Acquisition Facility(ies) and each Acquisition Facility that is acquired with the proceeds of the Bonds shall be bid, contracted and constructed in accordance with the requirements set forth in this Section 5. Neither School District nor CFD No. 2005-1 shall have any responsibility whatsoever for the bidding, contracting and/or construction of the Acquisition Facility(ies). The construction of each Acquisition Facility shall be subject to inspection by the City. Upon the request of Landowner, the City shall notify CFD No. 2005-1 and Landowner in writing when the Acquisition Facility(ies) has been substantially completed in accordance with the Plans and Specifications and when the Acquisition Facility(ies) has been finally completed and is ready for acceptance by the City Engineer. In order for Acquisition Facility(ies) to be eligible to be fmanced with the proceeds of the Bonds, Prior Owner and Landowner shall have complied with and shall prospectively comply with the following conditions precedent: (i) City shall approve the Plans and Specifications and the construction bid documents, (ii) the contractor to whom the construction contract is awarded shall comply with the LCR to the extent determined applicable by the City and pay not less than the prevailing rates of wages for all construction work pursuant to Labor Code Sections 1770, 1773 and 1773 .I, and (iii) the construction contract shall be awarded, on the basis of competitive bids, to the lowest, responsible bidder. City, Prior Owner and/or Landowner shall affirm and warrant that Landowner's compliance with all provisions of this Section 5(b) ensures that the Acquisition Facility(ies) to be acquired with the proceeds of the Bonds is consistent with the Act, the LCR to the extent determined applicable by the City, and shall be constructed as if it had been constructed by the City. For purposes of this Agreement, an Acquisition Facility(ies) shall be deemed "substantially completed" when Landowner has notified the City that the Acquisition Facility(ies) FINAL 5/31/11 7 158190.6 has been completed in accordance with its Plans and Specifications, the City's inspector has inspected the facility, prepared a final "punch list" and has determined that the punch list items required to be completed are items not required for the safe operation of the Acquisition Facility(ies) and can therefore be completed after the Acquisition Facility(ies) has been accepted by the City, and provision has been made to the City's satisfaction for completion of such items. For purposes of this Agreement, "final completion" of the Acquisition Facility(ies) shall be deemed to have occurred, when all punch list items have been completed to the satisfaction of the City and all contractors and subcontractors constructing the grading improvements shall have provided lien and material releases. (c) Acquisition and Ownership of the Acquisition Facility(ies ). Upon receipt by CFD No. 2005-1 of notification by the City that an Acquisition Facility(ies) has been completed in accordance with the provisions hereof, the Acquisition Facility(ies) shall be deemed eligible for acquisition by the City. Simultaneously upon acquisition of the Acquisition Facility(ies) by the City, title to the land or, if acceptable to the City, an irrevocable offer of dedication of the land, underlying the Acquisition Facility(ies) shall be conveyed to the City if such title or irrevocable offer of dedication has not previously been conveyed to the City. Neither the School District, CFD No. 2005-1 nor the City is directly or indirectly obligated, indebted or otherwise liable for the payment of the "Acquisition Price," or any portion thereof, of the Acquisition Facility(ies). Upon acceptance of the Acquisition Facility(ies) by the City, the City shall incorporate the Acquisition Facility(ies) in the City's public works system. Following the expiration of any warranty period applicable to the construction of the Acquisition Facility(ies) during which warranty period Landowner shall be responsible for the maintenance of the Acquisition Facility(ies), the City shall thereafter be responsible for the maintenance of the Acquisition Facility(ies) in accordance with all app!icable City maintenance procedures and practices. (d) Payment Requests. The form of payment request to be submitted by Landowner to City and by City to CFD No. 2005-1 in requesting payment by the District of the Acquisition Price with respect to an Acquisition Facility(ies) shall be substantially in the form of Exhibit D-1 hereto. The Acquisition Price of an Acquisition Facility(ies) shall include all actual costs and expenses relating to the planning, design, engineering, construction and inspection of the Acquisition Facility(ies) substantiated to the reasonable satisfaction of City. Within ten (1 0) business days of Landowner's submission to City of a payment request, City shall determine if the Acquisition Facility(ies) has been finally completed and shall either deny or approve the payment request and send it to CFD No. 2005-1, which approval shall not be unreasonably withheld. If City denies any payment request it shall provide Landowner a detailed written explanation describing the reasons or rational for such denial. All denied payment requests may be resubmitted for approval. Landowner shall reimburse City for its actual costs incurred in connection with the processing of such payment requests, including the inspection of the Acquisition Facility(ies) and such amounts shall be included in the Acquisition Price paid from the City Facilities Account. The City shall send approved payment requests to CFD No. 2005-1, which within ten (10) business days will forward such request to the Fiscal Agent. The Fiscal Agent shall wire transfer the amount of the approved Acquisition Price to the City as designated by City. City will in tum make payment to Landowner as specified in the payment request. The sole source of funds for payment FINAL 5/31111 8 158190.6 of the Acquisition Price of an approved Acquisition Facility(ies) shall be the funds on deposit in the City Facilities Account and funds disbW"Sed to the City from the Special Fund. 6. Tax Matters. In connection with the issuance of any Bonds, where a portion of the proceeds will be deposited in the City Facilities Account for the payment of City Facilities, City agrees to execute and deliver such certifications and agreements as may be reasonably required in order for Bond Counsel for CFD No. 2005-1 to conclude that interest on such Bonds will be excluded from gross income under Section 103 of the Internal Revenue Code of 1986. City agrees that it shall not use proceeds of Bonds provided to pay for City Facilities in any manner that would cause interest on the Bonds to become included in gross income for federal income tax purposes. City represents the following with respect to the use of the proceeds of the Bonds provided to fund City Facilities: (a) City expressly acknowledges that the Bonds are subject to Federal tax requirements applicable to the tax-exempt securities; (b) City expressly confirms and warrants to CFD No. 2005-1 that the City Facilities financed hereunder have not been previously fmanced with the proceeds of other tax-exempt securities or bonds; and (c) City agrees to promptly provide written notice to CFD No. 2005-1 of any such financing of City Facilities financed hereunder until the issuance of the Bonds. City reasonably expects to expend the proceeds of the Bonds on City Facilities as identified in Exhibit "C,'' attached hereto, and by this reference herein incorporated, within three (3) years from the date of issuance of the Bonds. City further agrees to maintain proceeds of the Bonds provided to pay for City Facilities in a separate accounting, apart from all other accountings of City. City shall maintain adequate controls over its payments, and of proceeds of the Bonds provided to pay for City Facilities accounting records, in accordance with generally accepted accounting principles as to its receipt and expenditure of proceeds of Bonds provided to pay for City Facilities. City will, upon request, provide CFD No. 2005-1 and/or Landowner with access to City records related to the City Facilities and will provide to CFD No. 2005-1 and/or Landowner, its annual financial report certified by an independent certified public accountant upon either Party's request and payment of applicable copying charges, if any, in accordance with the City's Public Record Act guidelines. CFD No. 2005-1 agrees to maintain full and accurate records of all amounts, and investment earnings, if any, expended for such Projects. CFD No. 2005-1 will, upon request, provide City and/or the Landowner with access to CFD No. 2005-1 's records relating to the City Facilities Account. 7. Indemnification. Landowner shall assume the defense of, indemnify and save harmless, School District, CFD No. 2005-1 and the City, their respective officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of or resulting from, any act or omission of Landowner with respect to Landowner's obligations under this F/ A JCF A. This shall include any and all claims, actions, damages, losses, or expense of every type or description relating to the failure of Prior Owner or Landowner to comply with the LCR as FINAL 5/31/11 9 158190.6 to any City Fee Facilities, Acquisition Facilities, or privately-funded public improvements required by City Entitlements of the Project; provided, however, that Landowner shall not be required to indemnify any person or entity as to damages resulting from willful misconduct of such person or entity or their officers, agents or employees. 8. Allocation of Special Taxes. The Board of Trustees of School District, as the governing body of CFD No. 2005-1, shall annually levy a Special Tax, subject to completion of the Sff Revision Proceedings, as provided for in the Sff Revision Proceedings. The entire amount of any Special Tax levied by CFD No. 2005-1, as provided in the F/A Agreement, shall be allocated to CFD No. 2005-1, as provided in the F/A Agreement. 9. Amendment. This F/A JCFA may be amended at any time but only in writing signed by each Party hereto. 10. Entire Agreement. This F/A JCFA contains the entire agreement between the parties with respect to the matters provided for herein and supersedes the JCF A. 11. Notices. Any notice, payment or instrument required or permitted by this Agreement to be given or delivered to either party shall be deemed to have been received when personally delivered or seventy-two hours following deposit of the same in any United States Post Office in California, registered or certified, postage prepaid, addressed as follows: School District: CFD No. 2005-1 With copy to: City of San Juan Capistrano: FINAL 5/31/11 Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Bowie, Arneson, Wiles & Giannone 4920 Campus Dr., Newport Beach, CA 92660 Attention: Alexander Bowie, Esq. City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager 10 158190.6 Landowner: With a copy to: With a copy to: Prior Owner: Rancho San Juan Development LLC 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager O'Neil LLP 19900 MacArthur Blvd., Suite 1 050 Irvine, CA 92612 Attention: John Yeager, Esq. IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Whispering Hills, LLC c/o IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Each Party may change its address for delivery of notice by delivering written notice of such change of address to the other parties hereto. 12. Exhibits. All exhibits attached hereto are incorporated into this FIA JCFA by reference. '13. Severability. If any non-material part of this F/A JCFA is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this F/A JCFA shall be given effect to the fullest extent reasonably possible. 14. Governing Law. This F/A JCFA and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California. 15. Waiver. Failure by a party to insist upon the strict performance of any of the provisions of this F/A JCFA by the other parties hereto, or the failure by a party to exercise its rights upon the default of another party, shall not constitute a waiver of such party's right to insist and demand strict compliance by such other parties with the terms of this Agreement thereafter. 16. No Third Party Beneficiaries. No person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this F/A JCFA (either express or implied) is intended to confer upon any person or entity, other than the City, the School District, the District, Prior Owner and Landowner (and their respective successors and assigns), any rights, remedies, obligations or liabilities under or by reason of this F/A JCFA. FINAL 5/31/11 11 158190.6 17. Singular, Plural and Gender. As used herein, the singular of any word includes the plural, and terms in the masculine gender shall include the feminine. 18. Counterparts. This F/A JCFA may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute but one instrument. IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. Approved as to form: By: Name: ------------------------Nossaman, LLP., Special Counsel CAPISTRANO UNIFIED SCHOOL DISTRICT By: Name: ------------------------ Title: Approved as to form: By: and Alexander Bowie, Counsel to Capistrano Unified School District Community Facilities District No. 2005-1 FINAL 5/31111 CITY OF SAN JUAN CAPISTRANO By: Name: Mayor ATTEST: Name: City Clerk COMMUNITY FACILITIES DISTRICT NO. 2001-1 of the Capistrano Unified School District By: Name: Title: 12 IS8190.6 FINAL 5/31/11 RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ____________________ _ Todd Cunningham, Manager WIDSPERING HILLS, LLC, a Delaware limited liability company By: Name: Title: By: Name: ------------------------- Title: 13 158190.6 EXHIBIT A DESCRIPTION OF PROPERTY The real property within Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills): Those certain parcels ofland situated in the City of San Juan Capistrano, County of Orange, State of California described as follows: A-I David Taussig & Associates, Inc. S/2612011 FY 2010-11 Assessor'• Pareels within CFD No. ZOOS-I orthe Caplstnao Unified Sehool Distrid (Whispering Hills) Assessor's Pareel Number Im! Lot Owner Ill Aereage 124-140-50 RANCHO SAN JUAN DEVELOPMENT LLC 0.048 664-241-01 16634 155 RANCHO SAN JUAN DEVELOPMENT LLC 0.746 664-241-02 16634 154 RANCHO SAN JUAN DEVELOPMENT LLC 0.722 664-241-03 16634 153 RANCHO SAN JUAN DEVELOPMENT LLC 0.660 664-241-04 16634 152 RANCHO SAN JUAN DEVELOPMENT LLC 0.704 664·241-05 16634 151 RANCHO SAN JUAN DEVELOPMENT LLC 0.697 664-241-06 16634 ISO RANCHO SAN JUAN DEVELOPMENT LLC 0.965 664-241-07 16634 149 RANCHO SAN JUAN DEVELOPMENT LLC 1.134 664-241-08 16634 148 RANCHO SAN JUAN DEVELOPMENT LLC 0.697 664-241-09 16634 147 RANCHO SAN JUAN DEVELOPMENT LLC 0.708 664-241-10 16634 146 RANCHO SAN JUAN DEVELOPMENT LLC 0.795 664-241-11 16634 145 RANCHO SAN JUAN DEVELOPMENT LLC 0.818 664-241-12 16634 144 RANCHO SAN JUAN DEVELOPMENT LLC 1.032 664-241-13 16634 143 RANCHO SAN JUAN DEVELOPMENT LLC 0.918 664-241-14 16634 142 RANCHO SAN JUAN DEVELOPMENT LLC 0.815 664-241-15 16634 141 RANCHO SAN JUAN DEVELOPMENT LLC 0.910 664-241-16 16634 s RANCHO SAN JUAN DEVELOPMENT LLC 0.120 664-241-17 16634 R RANCHO SAN JUAN DEVELOPMENT LLC 2.190 664-241-18 16634 M RANCHO SAN JUAN DEVELOPMENT LLC 0.140 664-241-19 16634 N RANCHO SAN JUAN DEVELOPMENT LLC 0.150 664·241-20 16634 E RANCHO SAN JUAN DEVELOPMENT LLC 10.130 664·241-21 16634 G RANCHO SAN JUAN DEVELOPMENT LLC 34.020 664-241-22 16634 c RANCHO SAN JUAN DEVELOPMENT LLC 4.310 664-251-04 16634 L RANCHO SAN JUAN DEVELOPMENT LLC 0.002 664-251-05 16634 0 RANCHO SAN JUAN DEVELOPMENT LLC 8.690 664-251-06 16634 H RANCHO SAN JUAN DEVELOPMENT LLC 17.840 664·25 1-08 16634 T CITY OF SAN JUAN 0.990 664-251-10 (PORTION) 16634 PORTION OF LOT B RANCHO SAN JUAN DEVELOPMENT LLC 5.530 664·251-13 16634 D RANCHO SAN JUAN DEVELOPMENT LLC 1.740 664-251-15 16634 PORTION OF LOT F RANCHO SAN JUAN DEVELOPMENT LLC 124.570 664·252-01 16634 10 RANCHO SAN JUAN DEVELOPMENT LLC 0.231 664-252-02 16634 9 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-252-03 16634 8 RANCHO SAN JUAN DEVELOPMENT LLC 0.243 664-252-04 16634 7 RANCHO SAN JUAN DEVELOPMENT LLC 0.255 664·252-05 16634 6 RANCHO SAN JUAN DEVELOPMENT LLC 0.241 664·252-06 16634 5 RANCHO SAN JUAN DEVELOPMENT LLC 0.246 664·252-07 16634 4 RANCHO SAN JUAN DEVELOPMENT LLC 0.254 664·252-08 16634 3 RANCHO SAN JUAN DEVELOPMENT LLC 0.276 664·252-09 16634 2 RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664·252-10 16634 RANCHO SAN JUAN DEVELOPMENT LLC 0.350 664-252·11 16634 24 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664·252-12 16634 25 RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664-252-13 16634 23 RANCHO SAN JUAN DEVELOPMENT LLC 0.451 664·252·14 16634 22 RANCHO SAN JUAN DEVELOPMENT LLC 0.250 664-252·15 16634 21 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664·252·16 16634 20 RANCHO SAN JUAN DEVELOPMENT LLC 0.237 K:\CLIENTS2\CAPO.USD\MELLO\whisphiii\Database\IO-II\APN Exhibit Page I of4 David Taussig & Associates, Inc. 5126/2011 FY 2010-11 Assessor's Parcels within CFD No. 2005-1 of the Capistrano Unified School District (Whispering Hills) Assessor's Parcel Number !!:!£! Lot Owner Ill Acreal!e 664-252-17 16634 19 RANCHO SAN JUAN DEVELOPMENT LLC 0.248 664-252-18 16634 18 RANCHO SAN JUAN DEVELOPMENT LLC 0.252 664-252-19 16634 44 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-20 16634 45 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-21 16634 46 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-22 16634 47 RANCHO SAN JUAN DEVELOPMENT LLC 0.581 664-252-23 16634 26 RANCHO SAN JUAN DEVELOPMENT LLC 0.236 664-252-24 16634 27 RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-252-25 16634 28 RANCHO SAN JUAN DEVELOPMENT LLC 0.244 664-252-26 16634 29 RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-252-27 16634 48 RANCHO SAN JUAN DEVELOPMENT LLC 0.443 664-252-28 16634 49 RANCHO SAN JUAN DEVELOPMENT LLC 0.303 664-252-29 16634 so RANCHO SAN JUAN DEVELOPMENT LLC 0.354 664-252-30 16634 51 RANCHO SAN JUAN DEVELOPMENT LLC 0.282 664-252-31 16634 52 RANCHO SAN JUAN DEVELOPMENT LLC 0.317 664-252-32 16634 53 RANCHO SAN JUAN DEVELOPMENT LLC 0.352 664-252-33 16634 54 RANCHO SAN JUAN DEVELOPMENT LLC 0.384 664-252-34 16634 ss RANCHO SAN JUAN DEVELOPMENT LLC 0.421 664-252-35 16634 56 RANCHO SAN JUAN DEVELOPMENT LLC 0.428 664-252-36 16634 30 RANCHO SAN JUAN DEVELOPMENT LLC 0.239 664-252-37 16634 31 RANCHO SAN JUAN DEVELOPMENT LLC 0.236 664-252-38 16634 32 RANCHO SAN JUAN DEVELOPMENT LLC 0.568 664-252-39 16634 33 RANCHO SAN JUAN DEVELOPMENT LLC 0.322 664-252-40 16634 34 RANCHO SAN JUAN DEVELOPMENT LLC 0.266 664-252-41 16634 35 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-252-42 1.6634 u RANCHO SAN JUAN DEVELOPMENT LLC 0.100 664-253.01 16634 17 RANCHO SAN JUAN DEVELOPMENT LLC 0.320 664-253-02 16634 81 RANCHO SAN JUAN DEVELOPMENT LLC 0.281 664-253-03 16634 80 RANCHO SAN JUAN DEVELOPMENT LLC 0.282 664-253-04 16634 79 RANCHO SAN JUAN DEVELOPMENT LLC 0.329 664-253-05 16634 78 RANCHO SAN JUAN DEVELOPMENT LLC 0.410 664-253-06 16634 77 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-253-07 16634 76 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-08 16634 75 RANCHO SAN JUAN DEVELOPMENT LLC 0130 664-253-09 16634 74 RANCHO SAN JUAN DEVELOPMENT LLC 0.514 664-253-10 16634 16 RANCHO SAN JUAN DEVELOPMENT LLC 0.325 664-253-11 16634 IS RANCHO SAN JUAN DEVELOPMENT LLC 0.473 664-253-12 16634 14 RANCHO SAN JUAN DEVELOPMENT LLC 0.748 664-253-13 16634 II RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-253-14 16634 12 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-15 16634 13 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664-253-16 16634 140 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664-253-17 16634 139 RANCHO SAN JUAN DEVELOPMENT LLC 0305 664-253-18 16634 138 RANCHO SAN JUAN DEVELOPMENT LLC 0.319 664-253-19 16634 137 RANCHO SAN JUAN DEVELOPMENT LLC 0.366 664-253-20 16634 136 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664-253-21 16634 135 RANCHO SAN JUAN DEVELOPMENT LLC 0.304 K:\CLIENTS2\CAPO.USD\MELLO\whisphiii\Oatabase\ I 0·11\APN Exhibit Page 2 of4 David Taussig & Associales, Inc. 512612011 FY 1010-11 Assessor's Pareels within CFD No. 2005-1 oftbe Capistrano Unirled Sebool District (Whispering Hills) Assessor's P11rcel Number Tract Lot Owner Ill Acreage 664·253-22 16634 134 RANCHO SAN JUAN DEVELOPMENT LLC 0.300 664-253-23 16634 133 RANCHO SAN JUAN DEVELOPMENT LLC 0.349 664-253-24 16634 73 RANCHO SAN JUAN DEVELOPMENT LLC 1.016 664-253-25 16634 72 RANCHO SAN JUAN DEVELOPMENT LLC 0.360 664-253-26 16634 71 RANCHO SAN JUAN DEVELOPMENT LLC 0.298 664-253-27 16634 70 RANCHO SAN JUAN DEVELOPMENT LLC 0.350 664-253-28 16634 69 RANCHO SAN JUAN DEVELOPMENT LLC 0.367 664-253-29 16634 68 RANCHO SAN JUAN DEVELOPMENT LLC 0.589 664-253-30 16634 67 RANCHO SAN JUAN DEVELOPMENT LLC 0.279 664-253-31 16634 66 RANCHO SAN JUAN DEVELOPMENT LLC 0.254 664-253-32 16634 65 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-33 16634 64 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-34 16634 63 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-35 16634 62 RANCHO SAN JUAN DEVELOPMENT LLC 1.030 664-253-36 16634 I RANCHO SAN JUAN DEVELOPMENT LLC 0.130 664-254-01 16634 57 RANCHO SAN JUAN DEVELOPMENT LLC 0.695 664-254-02 16634 39 RANCHO SAN JUAN DEVELOPMENT LLC 0.370 664-254-03 16634 38 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-04 16634 37 RANCHO SAN JUAN DEVELOPMENT LLC 0.273 664-254-05 16634 36 RANCHOSANJUANDEVELOPMENTLLC 0.264 664-254-06 16634 43 RANCHO SAN JUAN DEVELOPMENT LLC 0.342 664-254-07 16634 42 RANCHO SAN JUAN DEVELOPMENT LLC 0.310 664-254-08 16634 41 RANCHO SAN JUAN DEVELOPMENT LLC 0.368 664-254-09 16634 40 RANCHO SAN JUAN DEVELOPMENT LLC 0.513 664-254-10 16634 101 RANCHO SAN JUAN DEVELOPMENT LLC 0.586 664-254-11 16634 102 RANCHO SAN JUAN DEVELOPMENT LLC 0.461 664-254-12 16634 103 RANCHO SAN JUAN DEVELOPMENT LLC D.415 664-254-13 16634 104 RANCHO SAN JUAN DEVELOPMENT LLC 0.393 664-254-14 16634 lOS RANCHO SAN JUAN DEVELOPMENT LLC 0.365 664-254-15 16634 106 RANCHO SAN JUAN DEVELOPMENT LLC 0.336 664-254-16 16634 107 RANCHO SAN JUAN DEVELOPMENT LLC 0.330 664-254-17 16634 108 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664·254-18 16634 109 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-19 16634 110 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-20 16634 111 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-21 16634 112 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-22 16634 113 RANCHO SAN JUAN DEVELOPMENT LLC 0.349 664-254-23 16634 114 RANCHO SAN JUAN DEVELOPMENT LLC 0.280 664-255-01 16634 82 RANCHO SAN JUAN DEVELOPMENT LLC 0.293 664-255-02 16634 83 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664-255-03 16634 84 RANCHO SAN JUAN DEVELOPMENT LLC 0.272 664·255-04 16634 85 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-05 16634 86 RANCHO SAN JUAN DEVELOPMENT LLC 0.266 664-255-06 16634 87 RANCHO SAN JUAN DEVELOPMENT LLC 0.286 664-255-07 16634 88 RANCHO SAN JUAN DEVELOPMENT LLC 0.326 664-255-08 16634 89 RANCHO SAN JUAN DEVELOPMENT LLC 0.267 664-255-09 16634 58 RANCHO SAN JUAN DEVELOPMENT LLC 1.809 ~-:\CLIENTS2\CAPO.USD\MELLO\whisphiii\D1118bllse\ I 0·11\APN Exhibit J>ase 3 of4 David Taussis &. Associates, Inc. S/2612011 FY 2010-1 J Assessor's Parcels within CFD No. 2005-J orthe Capistrano Untried School District (Whispering Hills) Assessor's P11rcel Number Tract .b!! Owner Ill ~ 664-255-10 16634 59 RANCHO SAN JUAN DEVELOPMENT LLC 0.414 664-255-Jl 16634 60 RANCHO SAN JUAN DEVELOPMENT LLC 0.396 664-255-12 16634 61 RANCHO SAN JUAN DEVELOPMENT LLC 0.851 664-255-13 16634 90 RANCHO SAN JUAN DEVELOPMENT LLC 0.582 664-255-14 16634 91 RANCHO SAN JUAN DEVELOPMENT LLC 0.676 664-255-15 16634 92 RANCHO SAN JUAN DEVELOPMENT LLC 0.412 664-255-16 16634 93 RANCHO SAN JUAN DEVELOPMENT LLC 0.430 664-255-17 16634 94 RANCHO SAN JUAN DEVELOPMENT LLC 0.426 664-255-18 16634 95 RANCHO SAN JUAN DEVELOPMENT LLC 0.413 664-255-19 16634 96 RANCHO SAN JUAN DEVELOPMENT LLC 0.394 664·255-20 16634 97 RANCHO SAN JUAN DEVELOPMENT LLC 0.382 664-255-21 16634 98 RANCHO SAN JUAN DEVELOPMENT LLC 0.370 664-255-22 16634 99 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664·255-23 16634 100 RANCHO SAN JUAN DEVELOPMENT LLC 0.382 664·255-24 16634 115 RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664-255-25 16634 116 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-26 16634 117 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-27 16634 I 18 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-28 16634 I 19 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-29 16634 120 RANCHO SAN JUAN DEVELOPMENT LLC 0.275 664-255-30 16634 121 RANCHO SAN JUAN DEVELOPMENT LLC 0.267 664-255-31 16634 122 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-32 16634 123 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-33 16634 124 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-34 16634 125 RANCHO SAN JUAN DEVELOPMENT LLC 0.283 664-255-35 16634 126 RANCHO SAN JUAN DEVELOPMENT LLC 0.286 664-255-36 16634 127 RANCHO SAN JUAN DEVELOPMENT LLC 0.277 664·255-37 16634 128 RANCHO SAN JUAN DEVELOPMENT LLC 0.445 664·255-38 16634 129 RANCHO SAN JUAN DEVELOPMENT LLC 0.310 664-255-39 16634 130 RANCHO SAN JUAN DEVELOPMENT LLC 0.315 664·255-40 16634 131 RANCHO SAN JUAN DEVELOPMENT LLC 0.314 664·255-41 16634 132 RANCHO SAN JUAN DEVELOPMENT LLC 0.305 664-255-42 16634 1 RANCHO SAN JUAN DEVELOPMENT LLC 1.190 No. of Parcels: 173 273.689 (I) Ownership based on 1/112010 Assessor's Roll provided by the County. 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G S I * D. 7 7 U . 1.G J D ' I I . 1.-D.fl3llml. .. -0.01105% 1102 S1.12 S1o.DI 11Q.07"1i 110.0W. 111.«No - - 8 P K U I L T M U IS7- II n E L O P I D - - - C W . T A X E S ., -- - - - T - 10 tt i f J L I P i d i L f» H DY,.C1iU1Q CU I D ~ A L P A _ O F _ P R I C I ! R E : . . . . . . . . . . . n ! l M! . Y . ! P I H I Q fi M I I f' l l . , . , - , = a & fiM W J ! J ' p f Pl S G ! t M ' pmq M•lnJtiMifMJJ lt i T A L -O F - - I P t ! C I O & . T A X B C U S ) -O F M Y . . U . _ F O R _ I ' A Y I I I J f f O F - I ' R I C 2 R E : ~ IC P Y O F - - I ' A Y _ n l l l « ) _ l t i C U I O C 1 1 1 1 -·~~ .IDILa -10 -- ~ 1 ' . - . a A D _ M ........ 121 CU S O CF O No . 20 0 $ - 1 (W h i s p e r i n g H"d l s ) : 54 Dr a f t - Un a u d l l e d Pege2 FI I I C . O L Y E A R - ~ O F T A X E 8 20 1 1 - 1 2 21 1 1 2 - U 20 ' 1 3 - 1 4 20 1 4 - 1 1 20 1 J . 1 1 20 1 1 - 1 7 20 1 7 - 1 1 20 1 1 - 1 1 201-ZOl0-21 CA 1 . 1 K 1 A R YE A R - PA Y I I a m l TO IIO N I I H0 U 1 E R 8 21 1 1 2 20 1 3 20 1 4 20 1 1 20 1 1 211 1 7 21 1 1 1 21111 2020 2021 !. Cf D BQ N D E P !N P E m p N E S $ "s e P 21 1 1 4 " ".I A N 2 1 1 1 7 " cu s o Ol l E R FA C I U T I E S so so so so so S4 . 9 2 2 , 5 6 5 so so so so IN C A E M E H T A L PA Y I I ! N f OF PU R C t 1 A S E PR ! C E RE : SJ H I H S I S I T E so so SU S 7 . 1 7 1 so so 11 , 1 2 1 1 , 1 5 2 so so so so CI T Y OF 8N I JI. I A N CN ' 1 S I 1 W I O PU 8 U C FA C I U T I I ! S & FE E S so so 11 , 1 1 8 . 1 4 1 so so ~. 1 7 4 , 3 4 5 so so so so OT H E R CIT Y FA C I U T I I ! 8 so so ~ so so -- so so so so TO T ~ FI I W « : E D PU 8 U C FA C I U T I E S so so 15 . 4 3 1 . 8 1 3 so so lt a n t M I so so so so TO T ~ IO N D E D IN J E I J 1 e l M E S 8 so so S7 , 1 8 D . D D D so so S1 2 , 8 1 5 , D D D so so so so II AB S O R P T I O N -I I I I L D I N G E!E I V I I I I D Il l R1 jl j l • IIN I J I ! V E I . O I I t PR O P E R T Y -- U I I D E V E L O P E D I C I I E I G E 55 2 44 . 1 31 . 7 17 . a (0 . 0 ) (0 . 0 ) (0 . 0 ) (U.O) (D. D) (0.0) --P R O P E R T Y CU M I A A l N E NO N - R E S I D E N T I A L AC I I E A G E 0. 0 0. 0 0.0 a.o o.a 0. 0 a. a o.a a.a 0.0 IIE V E L O P E D II I ! S 1 D E H 1 W . PR O P E I I T Y Cl A S S ! CU S T O M HO M E S 0 0 a a 15 II 15 15 1$ " CI A S S Z RE S I O E N T 1 A L (> 4.e a D SF ) a 2 5 8 11 11 11 11 11 II CI A S S 3 RE S I O E N T 1 A L (4 . 3 0 1 -4.8 0 0 Sf ) a I 13 21 so so 30 30 30 30 CI A S S 4 RE I I I t l l i N T I A L (3 . 1 0 1 -4.3 0 0 SF ) 0 2 5 8 12 12 12 12 12 12 ClA S S I RE S I O E N T 1 A L (3 , 7 0 1 • UD O SF ) 3 I 15 23 27 27 27 27 27 27 ClA S S & RE I I I t l l i N T I A L (3 , 4 0 1 -3, 7 0 0 SF ) 4 8 13 18 2D 20 20 20 2D 2D CI A S S 7 RE S I O E N T 1 A L (2 , 1 0 1 - 3.4 0 0 SF ) 3 11 18 24 so 3D 30 so so so ClA S S I RE S I O E N T 1 A L , . . 2.8 0 0 !' ) _ _ _ 2 4 -- - · I _ _ _ ,_ a _ _ __ ! ! ! _ _ _ ,_ a _ _ _ ,_a ___ ,_a ___ 1_0 CI M I . \ A l N E RE S I D e N 1 1 A I . Ul ' m ' S 12 31 73 11 1 11 5 15 5 15 5 155 155 155 ·o . . . . . . . . _ .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . IU . M£ L L ( ) . M Q $ SP i C J A L T A X J i $ OJ UJ I I I I ! V a O I I S I PR O P E R l Y SI ' E C W . TA X E S so so so so so so so so so so I ~ I ' R D P E R T ' I - - T. U U so so so so so so so so w so so RD I D B ' f T I A L PI I D P E R T Y IP a : w . TA I C E a CI. A I I 8 1 CU S T O M HO M E S so so so so so S2 3 0 . 2 3 4 --- ~, 5 3 8 $244,3211 IZII,213 CI A S S Z Rl! & l l l E H T W . (> 4. 8 0 0 SF ) so so 11 7 , 1 1 0 5 S4 5 , 1 5 1 1 17 4 . 5 1 5 11 0 0 , 5 0 7 11 0 1 , 5 1 1 $1 0 1 , 7 2 1 $11a,104 1113,122 CI . A & 5 3 RE S I O E N T 1 A L (4 . 3 0 1 ' 4.8 0 0 SF ) so so 14 1 , 0 3 4 11 0 1 , 3 8 5 11 7 1 . 5 5 2 12 1 0 , 1 7 1 12 8 5 , 3 7 1 1 ~, & 8 7 121&,100 1281.123 CI. A & 5 4 ~( 3 , 1 D 1 - 4 , 3 D O S F ) so so 11 5 , 8 1 4 $4 0 , 5 3 0 S6 8 , 1 4 5 lt a 1 , 2 1 1 2 11 0 3 , 2 2 1 1 11 0 $ . 2 1 0 1107,386 1101.544 CI . A I I 8 5 RE S I O E N T 1 A L (J , 7 D 1 - UD O 8F ) so 12 1 . 7 4 1 15 ! , 1 3 1 11 1 3 , 0 9 6 11 7 1 . 1 8 3 12 1 1 , 7 1 1 12 1 1 , 0 3 4 12 2 0 , 3 $ $ 1224.712 1221.257 CI . J \ S S I RE S I D E N T W . ( J . 4 0 1 - 3,7 0 0 8 F ) so 12 8 . 4 8 3 15 1 , 1 0 1 19 & , 3 1 0 11 3 1 , 0 1 1 11 1 1 4 , 1 5 5 11 1 7 , 2 3 8 11 8 0 , 3 8 3 1113.111 $1&1.163 CI. J \ 8 S 7 RE S I D E N T W . ( 2 . 1 D I - 3 . 4 D O S I ' ) so 12 J D . 3 2 1 S1 1 2 , 1 8 3 I1 1 2 , 7 A 11 7 2 . 1 2 0 12 1 9 . 8 6 3 12 2 4 , 3 1 3 12 2 1 . 8 1 0 1233,427 1231.DI5 Cl A S S I - · - 2.8 0 0 SF ) so 11 2 . 8 0 1 12 5 . 7 0 1 -. - 16 0 , 1 7 5 Sl l , 1 1 1 9 se e .s a ~ $72,373 173..8211 TO T A I . I I ' t ! C W . TA X I S so $8 3 , 1 4 8 S2 8 7 , 1 U --- . _ , . , 0 I1 A 0 , 2 3 4 s1 . m . a • 11 , 4 0 4 , 7 1 4 11~171 $1,411,537 II ( . Sp E C I A L TA l ( BE Q I J 1 8 E M E N T N& W IIO N D E I I N i l E B I E D N E I I S so so 17 , 1 6 0 , D D D so so 11 2 . H 5 . 0 0 0 so so so so N& W Rli8 E R I I E FU N D so so S7 1 1 , D D D so so 11 . 2 1 1 9 , 5 0 1 1 sa so so so - - - NIN I J O L OB I T SE R I I 1 C I ! • &e R I I ! S A so so so 14 2 1 . 8 0 0 S4 2 1 I . 8 0 D S4 S 4 , 3 3 2 S4 4 3 , 0 1 1 S4 5 1 . 1 7 1 $410,117 S470,135 NO A I A l OB I T SE R I I 1 C I ! - IIE R I I ! S B so so so so so 15 1 5 . 8 0 0 17 7 3 , 7 0 0 17 7 3 . 7 0 0 1712.222 1717,167 - - - - - - - - - - - - - - - AN N U A L GR O S S OB I T SE R V I C E so so so 14 2 1 . 8 0 0 14 2 9 , 6 0 0 11 1 0 , 1 3 2 11 . 2 1 8 . 7 1 1 11 . 2 2 1 , 1 7 1 11,243,131 $1.281.002 CF O A D M I N J S T w . T I O N so S5 D . D D D 15 1 . 0 0 0 SS 2 . D 2 D 16 3 , 0 6 0 11 1 4 , 1 2 2 15 5 . 2 0 4 $5 1 , 3 0 1 1 157,434 151,583 R£ B E I M FU N D IN l i : A E S T ti l l DE U H C l U E H C Y I so so so so ($ 1 & , 1 1 2 1 5 ) ($ 1 6 , 1 1 2 1 5 ) ($ 1 1 , 1 1 2 1 1 ) ($ 1 1 , 1 1 2 1 ) ($47,121) (S47,121) CA P I T A L I Z E D 1N T E R E 5 T so so so (S 4 2 1 , 8 D O ) so (S 5 1 5 , 8 D O ) (1 2 1 7 , 8 0 0 ) so so to PA Y - . ' I t l U - 0 0 FIJ M l ) 8 (IN C I I E M E N f A L PA Y I I I S f T OF PU R C : I W I E PR I C E Re : $J H I I o 1 S I S t l E ) so 11 9 , 1 1 1 1 1 11 4 2 , 1 7 1 13 0 2 , 4 1 7 12 3 1 , 3 1 5 so so to so so PA Y - . V C U - G O FIJ M l ) 8 (C n Y OF 8N I JU A N CA P I S T R A H O PU 8 U C FA C I U T 1 E 8 AN D Fe E S ) so $1 1 , 6 1 1 1 1 $8 3 , 4 1 1 $1 7 7 , 4 1 1 $1 4 0 , 4 3 1 S3 o t , 2 7 D so so so sa PA Y - . V C U - G O FIJ M l ) 8 (C n Y OF 8N I JI. I A N CA P t S T R N I O OT H E R CIT Y FA C I U l l E l l ) so 11 , 1 1 9 1 11 1 . 3 7 • 12 4 , 1 1 3 11 1 , 1 5 1 S4 2 , 1 7 3 so so so so RE M A I N I N O PA Y - . Y O U - O O F U f D S T O C U 8 0 sa sa so ~ ~ ~ ~ ~ ~ ~ NE T AN N U A L DE B T II ! I M c : E sa $8 3 , 1 4 1 12 8 7 , 1 8 3 -- - - . . . a 11 A 0 . 2 3 4 11 . m n • 11 , 4 0 4 , 7 1 4 11,432,171 $1,411,537 ~ l N E II O N D P R O C E E O S I P A Y - . ' I O U - G O FO R sa $1 8 , 8 1 1 13 . 5 2 1 . 2 4 5 13 , 8 3 1 , & 8 2 S4 , D 7 1 . D 4 1 II, D D D , D D D II, D D D , D D D se . a a a . a a a II,OOO,DDD II.OOO.DDD IN C R E M E N T A L PA V 1 1 9 1 T OF PU R C H A I & I'R 1 C E Re : SJ H / H S I S f 1 1 ! NO A I A L S U V ' I . U S I I D E J ' l so so so so so so so so so sa ~ l N E ~ sa so so to so sa so so sa so -lU T . I D D J C l ' I O I D ) I . U AS : S U N D I U ! I O I I ~S £ n D i l J E i t I a:l l t b / ' A T J d M I - CU S O CF O No . 20 0 5 - 1 (W h i s p e r 1 n g HIO s ) : 54 Dr a f t - u . . - i l e d Pege3 F1 S C A I . Ye A R · CO U £ C 1 1 0 N OF TA X E S 20 1 1 · 1 2 10 1 2 · 1 3 10 1 J . . , . 21 1 1 4 - 1 1 20 1 1 1 - 1 1 20 1 1 - 1 7 10 1 7 - 1 1 10 1 a . 1 1 1011-20 20ZG-a1 CA l E N D N t - • PA Y I I l ! N l l l l O BO N t i i i O L I I E R S 10 1 2 20 U 20 1 4 20 1 5 20 1 1 20 1 7 20 1 1 2011 -2021 V. AV E R A G E AN N U A L sp m ! l TA X - P R O I ' E R J Y . P a A C I I E so so so so so s-o s-o s-o s-o s-o -. - n A I . P R O P I ! R T Y , P E R A C R E so so so so so 10 so so so 10 RU 1 D E ! n W . . P R O P E R 1 Y , I ' B I U M T QJ ' , S S 1 CU S T O M HO M E S 10 so so so so $1 5 , 3 0 1 $1 5 . 1 5 6 11 5 , 1 1 8 1 S1e.288 $11.114 CV . S S 2 RE S i t l E H 1 I A l (> 4,1 0 0 Sf ) so so 11 1 , ! 1 5 3 P. 1 3 2 St , 3 1 4 $9 , 5 0 1 P, a n ... . . $10.01:1 $10.2" QJ I S S ~ RE S i t l E H 1 I A l (U O I • .. . 11 1 0 Sf ) so so 11 . 1 1 2 11 . 3 3 1 1 SI. ! C I 2 sa . e n II J M I 11 . 1 1 2 3 11.200 SUI1 CV . S S 4 RE S i t l E H 1 I A l (3 . 1 0 1 - •. 3 0 0 Sf ) so so $7 , 9 4 7 11 , 1 0 6 - II . ~ SI. I I 0 2 se . n 4 11.150 11.121 QA S S 5 RI! S I D E H T 1 A l 13 . 1 0 1 - 3.1 1 0 0 Sf ) so $7 , 2 4 7 S7 , H 2 $7 , $ « 1 11 . 1 1 1 S7 , ' " 11 . 0 0 1 18 , 1 1 1 11.325 18,411 CV . S S I RE S i t l E H 1 I A l 13 • .0 1 • 3.7 0 0 SF ) so $7 , 1 2 1 S7 ~ S 7 . - $7 , 8 1 5 7 S7 , 7 0 e 11 ~ 11 . 0 1 1 11.110 18.1Q QJ I S S 7 RE S I D E H r i A L ( Z . I 0 1 · 3 . - S F ) so S& . n • 11 . 9 0 9 11 , a . 7 $7 . 1 8 8 S7 . 3 3 2 11 A 7 1 1 17 . 1 2 1 $7,111 11,137 Cl . ' S S I RI! S I D E H T 1 A l ( .. 2.1 0 0 SF ) so J6 . 3 0 0 •• 42 7 •• 55 6 11 . 6 1 1 11 . 1 2 0 11 . 1 5 1 1 11 . 0 9 5 11~ 17.312 VL MA X f M l J M ft C I A l T& X f l UN D E V E l O P E D PR O P I ! R T Y I1 . 2 1 1 , 1 1 S 2 11 . 2 0 1 1 . 1 5 0 S1 , 0 0 1 , C M 5 $7 2 1 , 7 1 1 . . . .0 0 7 (t o ) (S O ) (10) (to) (SO) JI C I M . I I I ! S I I J I PR O P I ! R T Y so so so so so so so so so so II B i l ) £ H 1 W . PII O I ' & R 1 Y Cl A S S I CU S 1 ' 0 I I I HO M E S so so so so so 12 3 0 ~ ln 4 . 8 3 9 ID I ~ ~--a.l.213 Cl A S S 2 - ( > 4 . 1 0 0 8 1 ' ) so so $1 7 . 1 0 : 1 $1 $ . 1 5 9 11 4 . 5 1 5 S1 a . . 5 0 7 $1 0 6 . 1 1 1 11 0 1 , 7 2 1 1110.104 $113,122 Cl A S S l -( U 0 1 - 4 . 1 1 0 0 S F ) so so $4 1 , 0 0 4 11 0 1 , : 1 8 $ 11 1 1 , 5 5 2 12 1 1 0 , 1 7 1 1 12 6 5 . 3 7 1 1 12 1 0 . 1 1 1 127&.100 S211,m CV . S S 4 ~ 13 . 1 0 1 - 4.3 0 0 8 1 ' ) so so 11 1 , 1 M 14 0 , 5 3 0 S68 . 1 ~ $1 0 1 . 2 1 1 2 11 0 0 . 2 2 1 11 0 1 . 2 1 1 1 1107.311 1101_,.. QJ ' , S S 5 RE 8 I D E H l 1 A I . 13 . 7 0 1 - 3.1 1 0 0 SF ) so 12 1 , 7 4 1 15 1 , 1 3 5 111 ~ . 0 1 1 1 1 1 1 . - 12 1 1 . 7 1 1 1 12 1 1 . 0 0 4 12 2 0 . 3 8 5 1224,712 1229.251 Cl A S S I Ael l l l l i ! N I W . I 3 . ~ - 3 . 7 0 0 S F ) so 12 1 . - S5 1 , 1 0 6 11 1 . 3 1 0 11 - . 0 i t $1 5 4 . 1 5 5 11 1 1 1 ~ 11 6 0 . 3 1 3 1163,5111 I lSI.- Cl A S S 7 RE 8 I D E H l 1 A I . (2 . 1 1 0 1 - 3 . - SF ) so 12 0 . 3 2 1 M2 , 1 8 3 11 1 2 . 7 5 1 11 7 2 . 5 2 0 12 1 1 1 . 1 1 1 3 $2 2 4 , 3 6 3 12 2 1 , 1 $ 0 1233.427 1231.015 CV . S S I ~ ( C o o 2.1 0 0 8 1 ' ) so $1 2 , 6 0 1 12 5 , 7 0 6 ... ~ $1 0 . 1 7 5 $5 1 , 1 1 1 1 1& . 5 1 3 S1 0 , 1 1 M 112.373 $13,120 - - - TO T A L II A I C D I U M &P E a A I . TA J I E S 11 , 2 1 S , 1 1 2 St. 2 1 Z . t M $1 ,2 l t , O C I I Sl . m . u r S1 , 2 0 . 8 5 7 11 . 3 1 0 , 2 3 0 11 . 2 n . 2 3 9 ll ~ n . IIA32.1711 S1A81.Q7 OJ W DE B T SE B l i J C J ! CQ ! I E R A G E I GR O S S DE B T IS \ V I C E C O I I B W O E . , _ 1S T BO N t i i W D 70 Ull t 1 " s - NA NA NA 11 0 . c m . 11 z . z n l . ~ ~ ~ 11 3 . z n l o 11 3 . z n l o 113.znlo 11l.znlo +::- OR O S S O E B T & E R V I C E C O I I B W O E • NA NA NA NA NA NA NA 110 . C X I ' I I o 110.a.% 110.a.% NE T DE B T SE R V I C E CO Y e W l E - NA NA NA NA NA NA NA 11 1 . 4 0 ! ' 114.43 .. 114.31 .. • u. u z w t a ~ J n a . f i . T A I D U D O D ~ DM l C 8 r C . . O U O i i 1 t T ~ -U A t ~ N t A t i i ' I O A . T A t E J I . E I J C I I D ~ I ' U J S C D J . $ ~ 0 M D E I " J B T Q I I C J E S . D I ! : B T J I J r f 1 a CU S D Cf D No . 20 0 S . 1 (W h i s p e r i n g H" l l l s ) : 54 Dr a f t • Uru w c l l ! e d Page 'I FI I C I I I . YI ! A R · C O U I ! C l i O N O F T A X E S 20 2 1 ~ JO Z W : S ZO Z S . Z A - - 20 Z S - Z 7 20 1 7 - 2 1 ~ -~1 c:A L E N D A R YI ! A R - P I I Y I I S i l a T O ~ H0 1 . . 0 E R S :I O U ZD Z 3 20 : 1 < - - ZO Z 7 - --20a1 L£ f A BO H D E P !N Q J ; m D N E s s CU S D OT l 1 E R FA C I U T I E S so so so so so so so 10 10 10 IN C R E M E N T A L PA Y M E H T Of' PU R C H . t o S E PR I C E RE : SJ H I H S I S I T E so so so 10 10 so 10 so 10 so CIT Y O f ' - JU N 1 CA P I S T R A N O PU 8 U C FA C i l i T I E S & FE E S so so 10 10 so so so so 10 10 OT I E R CIT Y FH : I U l l E B so so 10 so so so _ _ _ so_ 10 so so TO T A L FlN N I C E D PU B L I C FA C I I J T I E S so so so 10 so so so so so so TO T A L I C N D E D I I I ! l E B T £ D N I ! 8 S so so so 10 so so so so so so U AS B P T J O N ·I I I I U I I H ! i I!E B M I D i 11 1 Il l :1 1 2 1 " UN D e Y I ! L O P E D P1 1 0 P P T Y RE i o W N I N O UN i l i ! I I E l . C l P E ~ (11 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (O . I l ) (0.0) (1).0) (1).0) D I M ! L O P I O - - P I I O P E i m ' CU M I A A T J V E NO N - R E I I I D E N T I A I . AC R E A G E 0. 0 0. 0 0. 0 0. 0 0. 0 0.0 0.0 0.0 0.0 0.0 DI! V E I . O P E D III ! I I D E N T I A L PR O P E R T Y CI M S 1 CU S T O M HO l E S 15 16 16 15 15 15 16 15 15 15 CIA S S 2 RE S I I I I ! N T I A I . (> · · - 6F ) 11 , 11 , 11 It , 11 11 11 CI A S S 3 AES I D E N T 1 A L 1'. 3 0 1 · ·· - S F ) so so so so so so so 30 so so C~ M S • RE S I D i i N T W . (3 . 1 1 1 1 1 - uo o SF ) 12 12 12 12 12 12 12 12 12 12 CI N I 8 5 RE S I I I I ! N T I A I . (3 . 7 1 1 1 • 3.1 1 0 0 6F ) 2'1 2'1 2'1 2'1 2'1 2'1 %7 2'1 2'1 2'1 Cl A S S I RE I I 1 D I ! N t W . (3 - ' 0 1 • 3,7 0 0 6F ) 20 20 20 20 20 20 20 20 20 20 CI A S S 7 RE S i l l i ! N 1 W . (2 . 1 0 1 • 3. 0 0 0 SF ) so 30 so 30 so 30 30 30 30 30 Cl A S S I RE S I I I I ! N T I A I . , . . 2.1 0 0 6f ) -- ~ - 10 _ _ _ ,_a _ _ _ ,_ o _ _ _ ,_o -- ~ 10 10 ___ ,_o ___ ,_o CU M I A . A T J V E R E S I D E N T I A L UN I T S IS S 1M IS S 1S S 1M tM 1M 1M 1M 1M ·a - - - . .. . . . . . . . . . . . . . . . . . . . . . . . . . ,.. . , . . m ME U Q . f S O O ! ! . SP E C I A L mx F s OJ UN D e Y 1 ! L 0 P E D PR O P E R l Y IP £ C I A L TA I I E I so 10 10 10 so so so so so so I ~P I I O P E R T Y I P I ! I : W . TA I I E I so so so 10 so so so so so so lJ l IU l l l l l i ! N 1 I A L PII O P E R T Y IP £ C I A L TA I I E I CI A S S 1 CU S T O I I HO I I I ! B S2 5 4 . 1 f 7 S2 5 1 1 . 2 1 1 S2 l o i . O G 7 12 & 1 1 , 7 5 1 1 12 ' 1 5 , 1 5 1 $2 1 1 0 . S S . S2 l 8 . 2 8 7 13 1 . - 1Zf7.&!3 s:sos.m CI A S S 2 RE S I I I I ! N T I A I . (> •.a o o 6F ) st 1 5 . 3 1 5 11 1 7 . 1 1 1 2 11 2 D . I M 6 $1 2 2 . " 7 11 2 ' 1 . 1 1 1 1 1 S1 2 ' 1 . 3 M $1 2 0 . M 2 S1 3 Z . S . 1 $135.191 $137.1115 CI A S S 3 RE S I I I I ! N T I A I . (< I . X 1 1 · •.a o o 6f ) CI S 7 . 2 5 5 $2 0 3 , C I D O --- $3 0 1 , 8 3 7 13 1 0 . 1 1 3 ' 13 1 7 . 1 5 3 $3 Z 3 . 4 1 6 ---S331.!115 S3G.2!M CI A S S 4 RE S I D E N T I A L (3 . 1 0 1 - •. 3 0 0 6F ) 11 1 1 . n s Stt : S . I I l l 11 1 1 . 2 4 1 1 $1 1 1 , 5 7 4 $1 2 0 , 1 1 4 5 S1 2 3 . 3 1 4 $1 2 5 . 1 3 1 11 2 1 . 3 4 1 $130.1115 1135.533 CIA S S S RE S I D E N T I A L ( 3 . 7 U 1 · 3 . a o o S F ) -.I G $2 3 1 . 5 1 1 1 S2 4 3 . 2 n 12 4 1 , 1 5 1 $2 5 3 . 1 1 1 12 5 1 , 1 1 1 $2 1 3 . 3 ' 1 4 12 1 1 1 . 1 1 1 1273.183 SZ78.- Cl A S S I RE S I D E N T 1 A I . (3 . 4 0 1 · 3.7 0 0 SF ) 11 7 0 . 2 0 0 $1~ . 1 0 ' 1 $1 7 7 . 1 1 7 1 S1 1 0 . 8 t e 11 1 4 . 2 3 0 11 1 7 , 1 1 6 11 1 1 . & 7 . 1 $1 1 5 . 1 0 1 ., .... ,. $2D:J,«J5 CI A S S 7 RE S I I I I ! N T I A I . ( 2 . 1 0 1 . 3.' 1 0 0 6 F ) $2 ' 1 2 . 8 5 7 $2 4 7 , 7 1 5 S2S 2 . I 1 I 9 12 5 7 . 7 2 2 S2 1 2 . m 12 1 5 1 , 1 3 ' 1 S2 T . 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N T OF PI I I C H I I S E PR I C E RE : SJ H I K S I S I T E -- l i U I P I J J S I I O E I ' so so so so so so so so so so CU I I A A 1 1 1 1 E au R P W I I I I D E J ' I C so so so so so so so so so so -C D T S D n 7 n . ' . J C I I U 1 t l i J i ~ U A / I I . C H J - " V ~ I I U ' V / ' A I I I D i n - CU S O CF D No . ~1 1 W h l ~ g Hil s ) : 54 Dr a f t - Un a u d i t e d PageS FJS C : A I . YE A R • CO U E C 1 1 0 N OF TA J I E I I zo t i . Z Z 2G U . z 2 20 2 . 1 - U 20 Z W S - 2 0 ~ 20 # - Z I ZO Z I . z t -.IOSG-31 ~Y E A R - P A Y M E i m l l l i - H O I . . I l i ! R I I 20 2 2 ZII D 20 U 20 2 1 - 20 # - 202t -2031 y A\'E R A G E AN N U A L SP E C I A L TA X UII D I ! V B . O P E D 1'1 1 0 P £ 1 1 1 Y , PM AC R e S- 0 S- 0 S- 0 S- 0 S- 0 S- 0 S- 0 S-0 S-0 S-0 -- - - . 1 ' 1 ! 1 1 . - a l e so 10 10 10 so 10 so 10 10 so -- . P E R U N J T et A & & I CU I I T C U HO M E & S1 6 . M 11 7 , 2 8 5 11 7 , 1 3 1 11 7 , 8 M 11 1 , 3 4 3 11 1 , 7 1 0 I tt l . - St t . 4 e t l It Use 120..253 a.A S & Z RE S I D E N T W . (> • . - Sf ) It O . - 11 0 , 6 1 1 11 0 , 1 1 3 11 1 , 1 : 1 2 11 1 , 3 5 4 St U l l $1 1 , 1 1 3 I1 2 . 0 G 112.280 112.538 ClA S & 3 RE S I D E N I W . j 4 , 3 0 t -•.e o o Sf ) s u n 11 . 7 1 7 S8 , 1 8 2 St O , t l t 11 0 . 3 8 4 11 0 . 5 7 2 11 0 , 7 1 3 s t o . • 111,211 111,.., Cl A S S ' REl i i D E N T i o O L (;1 , 1 0 1 • 4.3 0 0 Sf ) 11 . 3 t t se , . m S8 , 1 1 7 ... . . , 11 0 . 0 7 8 11 0 . 2 8 0 ltO , o 4 1 8 11 0 , 1 1 1 $10.110 $11,121 aA S S I RE S I D E N T W . (;1 , 7 0 1 . uo o Sf ) SU i t .. .. , . se . o t t $1 , 1 1 1 11 . 3 7 5 SU 1 2 Sl, 7 5 3 ··-$10,1 .. $10.310 ClA S S I RE S I D E N T W . (;1 . 0 0 1 • 3,7 0 0 Sf ) IU t o 11 . 1 1 0 11 . 1 5 0 S8 . 0 3 t St. 2 1 1 ... . Sl. 5 6 4 st . 7 7 5 11.171 110,170 ClA S & 7 RE S I D E N T W . (2 . 1 0 1 - 3. . 0 0 Sf ) 11 . 0 1 1 5 $1 . 2 5 7 11 . 0 2 2 11 . ! 8 1 11 . 7 1 3 IU 3 1 11 , 1 1 7 $1 , 2 9 ! 1 11-"5 SI,B71 ClA S S I RE S I D E N T W . , .. 2. 1 0 0 Sf ) $7 , 5 3 0 S7 . 8 1 0 $7 , 1 3 0 $7 , 1 1 1 $1 , 1 1 0 $1 , 3 1 3 SI • .. O $1 , 6 4 1 1 $1,122 ...... VI. MA X J M U M SP E C I A L TA X E S UN D I M L O P E D P R O P E R T Y (S O ) (S O ) (S O ) (S O ) (S O ) (1 0 ) (1 0 ) (10) (SO) (10) -P R O P B i l Y 10 so 10 so so so so so so so RP i l l E N M L PR O I ' I R T Y ClA S S I CU I I T C U HO M E S S2 M . t l 7 SZ I ! I . 2 1 1 12 1 1 ' .. . 7 SZ I ! I . 7 5 1 $2 7 5 . 1 5 1 S21 0 . 1 5 o 1 S2 I 8 . 2 S 7 52 1 1 . 1 1 3 5217,133 $303,701 CI A S S Z RE S I D E N T W . (> 4,1 0 0 Sf ) $1 1 5 . 3 1 5 St t 7 . 1 1 2 St2 0 , D 1 4 1 S1 2 Z , U 7 St Z U I I lt 2 7 . 3 M S1 2 1 , M 2 St 3 2 . M t 1135,191 1137,115 Cl A S S 3 RE S I D E N T W . (4 , 3 0 1 • 4,1 0 0 8F ) $2 1 7 . 2 5 5 SZ I 3 . 0 0 0 -- 13 0 4 . 1 3 7 $1 1 0 , 1 3 0 $1 1 7 , 1 5 3 SS Z 3 , A E ---Sl36,ll$ SSQ,218 ClA S & 4 RE S i t i E N I W . (;1 , 1 0 1 • 0,3 0 0 Sf ) 11 1 1 . 7 3 5 S1 1 3 . 1 1 8 t 11 1 8 . 2 • 1 11 1 8 . $ 7 4 S1 2 0 , M 5 11 2 3 . 3 8 4 S1 Z U 3 1 11 2 1 . 3 ' 1 $130,115 1133,533 Cl A S S I RE S I D E N T W . P. 7 0 t • 3.1 0 0 Sf ) SZ 3 3 . M Z $2 3 1 . 1 1 1 SZ G . 2 1 1 SU I . 1 S 5 $2 5 3 , 1 1 1 $2 5 1 . 1 1 1 SZ I 3 . 3 U 12 & 1 . & 1 1 1273,113 S279A3 ClA S S I RE S I D E N T W . ( ; I . ' I I t ·3 . 7 0 0 S f ) 11 7 0 . 2 0 0 S1 7 3 . e o o St 7 7 . 0 7 1 11 1 0 . 1 1 1 11 M . 2 3 0 11 1 7 . 1 1 5 S1 1 1 . B 7 3 $11 1 5 . 1 1 0 1 1 ""·"· SZIIIIACI5 CI A S S 7 RE S I I l E H I W . 12. 1 1 0 1 -3,' 1 1 0 Sf ) SU 2 . I S 7 SZ • 7 . 7 1 5 12 5 2 .. . . $2 5 7 . 7 2 2 SZ I 2 . m $2 1 1 . 1 3 0 $2 7 3 A t 7 $2 7 1 . 1 1 1 7 --S2aZ37 ClA S S I - ~ . . - 2.1 0 0 S f ) 17 5 . 2 1 7 $7 1 , 1 0 3 17 1 . 3 3 1 $7 1 , 1 0 5 Sl t . S O . $1 3 , 1 3 0 SM , 7 1 1 ---.zzz Sl9.1117 - - - - - - - - - - - - ll i T A L III A l C I M U M II ' I ! Q I I L TA I I E I I 11 M 0 . 7 1 1 St . A O . I I 3 St . I I I O . H I I 11 . 1 1 1 . 0 1 1 11 . 1 1 1 , 1 8 1 S1 , 1 4 1 , 1 2 1 11 . 1 7 1 . 1 4 7 S1 . 7 1 1 A ' 11.7'1.173 11,711.101 0:1 t en l/ J I DQ T l i E I M C E co y m A G E GR O S S I J E I I T ~ CO I I & R A G E FR O I I 1S T BO N D N I D 70 UN I T S ' 11 3 ~ 11 3 ~ t t ~ 1 1 ~ 11 3 ~ 11 3 ~ 11 3 ~ tt 3 . 2 7 Y o 113.27Yo 113.27Yo GR O I ! l l l & l ' IE I M C I ! CO I I & R A G E . 1 1 0 . - 11 0 . 6 0 , . 11 0 . 6 0 , . 11 0 . 6 0 , . 11 0 . 6 0 , . 11 0 . 6 0 , . 11 0 .. . ,. 11 0 ... ,. 110 ... ,. 110 ... ,. NE T DE i l T II ! I M C E CO I I E M G E - t W ~ 11 4 . Z Z . . . 11 .. 19 . 1 , . . , . 11 4 . 0 1 , . 11 3 .. . ,. 11 3 .. . . . . 11 3 . 1 2 " ' 113.79. 11.._ • &1 4 1 M M S H J : l A I . TA . U i l ' U: : : S : S O D N J W I I I J T i f A 1 I O t r l . DM D f . D I I r C ' " o i i i : 1 U DD I T S I 1 I J ' I C S -W A J I I J I I M S H I : U L t. c D i : I ' I F J I J O D ~ I " ' . U M . ' I I i : l t i ' J t ' ~ . M D I D n C I I I O I S D D I T S D e ' J Q ' CU S O CF O No . 20 0 5 - 1 (W h l s p e r t n g HD I S ) : 54 Dr a f t -U n - I t e d Pages Fl S C ; A I . YE A R • c:o u . E c : ' I I O I I OF TA l l O 20 3 1 - 3 2 l! O U - 3 2 20 3 ~ 20 U . . s & - ~ 7 20 3 7 4 1 ZD 3 I 4 I ---1 CA l B & I U I YE A R · PA Y i i l f H n l TO -H O I . D E R I I 20 U 2I m - 20 3 5 - 20 3 7 - --31M1 I. Cf D BO N Q E D IN D E B J E Q N E $ S CU 8 0 OT H E R FA C I U T 1 E l l so so so so so so so so so so IN C I 8 ! S ' I T A I . PA V 1 1 9 1 T OF P\J R C H A S I ! PR I C E RE : &JH I H S I S I T E so so so so so so so so so so CIT Y OF BO N JU A N CN ' I S n W I O PU I I L l C FA C I U T I E B & FE E S so so so so so so so so so so OT H E R CI T Y F ~ E S so so so so _ _ so_ so so so so so TO T A l . F1 N A N C E 0 PV 8 U C FA C I U T 1 E l l so so so so so so so so so so TO T A I . I I O N t l E D IN C E l i T E D N a S so so so so so so so so so so D AI I ! I Q R P T I O N ·I W J , g i ! U i eE B M I I l i , .. !l l l l l l " UN D e V S . O P I ! D . . - n ' RB M I N t i G UN O E V I ! L O P E O A C I I E I G ! (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE I I E L O I ' e D ~ P R O P E R I Y CU M U I A T l W ~ A C R E A G ! l 0. 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 De i i E L O P e D RE 1 I l D E N 1 W . PR O I ' E R 1 Y CL A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 CL A S S 2 RE S I D E H T l A I . (> 4,1 1 1 0 SF ) 11 11 11 11 11 11 11 11 11 11 CL A S S 3 RE S I D E H T W . (4 . 3 0 1 - 4,1 1 1 0 SF ) 30 30 30 30 30 3D 3D 3D 30 3D CI . A S S 4 RE B 1 C I E H T I A I . (3 , 1 0 1 • 4,3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 CL A S S S RE I I I D E N T 1 A I . (3 , 7 0 1 - 3,1 0 0 SF ) 27 27 27 27 27 27 27 27 27 27 CL A S S I R£ I I I D E H T W . (3 , 4 0 1 - 3,7 0 0 SF ) 20 20 20 20 20 20 20 20 20 20 CI . A S S 7 RE I I I D E N T 1 A I . (2 , 1 0 1 • 3, 4 0 0 SF ) so so so 30 so so 30 3D so 3D CL A S S I R£ I I I D E H T W . ,. , . :z . s o o SF ) _ _ _ 1_o _ _ _ ,_ o _ _ _ ,_o _ _ _ ,_ o _ _ _ 1_0 _ _ _ 1_0 _ _ _ 1_0 _ _ _ 1_0 ___ ,_o ___ 1_o CI A 1 \ A A T I V E RE S I D E H T I A L UN 1 T I I 15 5 15 5 15 5 15 5 15 5 15 5 15 5 186 186 156 . c . . - _ . . . , _ . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . OJ 10 Mf: L L C H U ) Q S SP E C I A L TA X Q UH O E Y E L O P I ! D P R I I P I ! l n Y I P E C I A I . TA X E S so so so so JO JO so so 10 so I Sa -.. , J __ , _ _ P I I O I ' E R T Y I I I ' a : w . 1' A l i U so JO 10 JO JO 10 so so so AU I D I ! N 1 1 I I L PIW I I ' E R T Y 8f t C W . TA I I E S CL A S S I c:u s T O M HO l i E S $3 0 8 . 1 1 5 13 1 1 , 0 1 2 S3 2 : l . 3 8 4 $3 2 1 . 1 3 1 $3 3 5 . 4 0 1 S3 4 : z . 1 1 8 S3 4 1 , 1 1 5 8 S3 5 5 . 1 3 4 $313,056 $170,317 CL A S S 2 RE S 1 D I ! N T 1 A I . (> 4,1 1 1 0 SF ) 11 4 0 , 8 5 : 1 11 4 3 , 4 8 1 11 4 1 1 . 3 3 8 11 4 1 . 2 1 1 2 11 5 : z , 2 4 1 11 $ 5 . 2 1 2 11 5 1 . 3 8 1 1 11 8 U E I I 1164,198 1181,094 CI A B 5 3 RE S I I l E J i i T I A I . (4 . 3 0 1 · 4.8 0 0 SF ) S3 S 0 , 1 8 2 13 5 7 , 1 1 5 S3 8 4 . 3 0 t S3 7 1 M 5 13 7 1 . 0 2 7 13 8 8 , 1 1 0 7 QU , 3 3 9 14 0 2 . 2 2 8 1410.271 1411,478 CI. A S S 4 RE S I D E N T I A L 13 . 1 0 1 - uo o SF ) 11 3 8 . 2 1 M 11 3 1 , 1 1 2 1 11 4 1 , 7 0 7 11 4 4 . 5 4 1 11 4 7 . 4 3 2 11 5 D . S I O 11 5 3 . 3 1 1 11 1 ! 6 . 4 5 8 11!19,515 1182,778 CL A S S 5 Rl! l l l l l E N 1 ' W . (3 , 7 0 1 • 3.1 1 1 0 SF ) R8 5 . 0 5 2 12 1 0 , 7 $ 3 - . .. DI 2 , 5 D D 13 0 8 , $ 5 0 $3 1 4 , 7 2 1 13 2 1 , 0 1 5 13 2 7 . 4 3 5 1333.8114 $340,&W CL A S S & RE S I D E H T l A I . (3 . 4 0 1 - 3,7 0 0 SF ) 12 0 7 , 4 7 3 $2 1 1 , 6 2 2 $2 1 5 , 1 1 5 6 12 2 0 . 1 7 2 12 2 4 , 5 7 5 12 2 9 , 0 5 7 IZ 3 3 , 8 4 8 12 3 1 . 3 2 1 $243.GII $247.141 CL A S S 7 RE S 1 D I ! H T W . (2 . 1 0 1 - 3,4 0 0 SF ) 12 8 1 1 , 0 4 2 $3 0 1 , 8 1 1 3 S3 1 1 1 . 0 0 2 $1 1 4 . 1 & 2 $3 2 0 , 4 4 5 $1 2 & , 1 5 4 $3 3 3 , 3 1 1 S3 4 0 . o e t 13411.110 $153,717 CL A S S I RE S I O E N T 1 A I . ,_ 2.1 0 0 SF ) S1 1 , 7 1 8 St3 . 1 2 2 SI 5 , 4 M 18 7 . - PU 5 2 11 0 1 , 3 3 1 11 0 3 , 5 8 8 lto 5 , 4 3 4 1107.542 1101,1113 TO T A L 8I ' I ! C I A I . TA I I E S $1 , 1 1 7 , 2 3 1 lt , I I I U I Z S1 , n o , U . 11 , 1 2 M 5 7 $1 , 1 1 7 , 1 1 3 6 SU D & . m ' S2 , 0 4 1 , 1 0 1 S2 , 0 5 7 , G S:Z.I2t,IM S:Z.t71,717 N &pE C J A L TA J ( m; Q U J B E M E N ! NE W IIO N t l E D IN D E I I ' I B l N E S S JO so so 10 JO JO so so so so NE W AE I I E R I I E FU f C I so so so so so so so so 10 10 AN I I U A I . D E B T sa M C & • SE M S A 15 1 4 . 1 5 4 S5 1 1 , 2 4 5 31 0 1 , 1 7 0 18 2 0 . . 3 3 3 18 3 2 . 7 4 0 --- S1 5 1 . 1 0 3 11 7 1 . - ----- AN I I U A I . D E B T sa M C & • SI! I I I E 8 B S11 1 1 2 , 0 4 7 11 , 0 1 1 , 1 8 8 S1 . 0 : S : Z . 1 2 1 11 , 0 S : Z , 7 8 1 11 . 0 7 3 , 8 2 4 S1 , 0 8 5 , S O D 11 , 1 1 7 . 2 1 1 8 S1 . 1 3 1 . 5 5 D 11,182,341 11,1115.511 AN I I U A I . G _ . DE B T SE R V I C E 11 , 5 7 8 . 1 1 0 1 11 . 1 1 0 8 , 1 3 3 11 . - . z l l l 11 . 6 7 3 , 1 0 2 11 . 7 1 1 1 , 5 1 1 4 11 . 7 4 0 , 6 1 5 11 . 7 7 5 , 1 0 ! 1 $1 , 1 1 1 . 0 1 9 11.1147.240 11..114.114 CF D H l M I I I I S ' I 1 U > . T I O N 17 2 . 1 1 4 1 17 • . 2 1 7 17 5 . 7 1 3 17 7 . 2 1 1 1 17 1 1 , 1 4 5 11 1 0 , 4 2 2 18 2 . 0 3 0 Sll 3 , 8 7 1 SIS,344 SI7.0S1 RE I I & R V & PU N O IN l 1 ! I I E S T 1f t DE I J N C I U ! N C Y l (1 4 7 . 1 2 1 ) (1 4 7 , 1 2 1 ) (1 4 7 . 1 2 1 ) (1 4 7 , \ 2 1 ) (1 4 7 . 1 2 1 ) ($ 4 7 , 1 2 1 ) (1 4 7 , 1 2 1 ) (1 4 7 , 1 2 8 ) (147,128) (147.12!1) CA P I T A L I Z E D ll m R E 8 T so so so so 10 so 10 so so so PA Y . J \ $ - Y O U o G O FU N O S (I N C I W E N T A I . PA ' ! M e N T OF PU R C H A S E PR I C E RE : s. . t 1 I H S ' S I 1 e l so so so so so so JO so so 10 PA Y . J \ $ - Y O U - O O FU N O S (Q T Y OF SA N .A l A N CA P I S l J W I O PU 8 U C FA C i l i T I E S AN D Fa $ ) JO so so so so so JO so so 10 PA Y . J \ $ - Y O U - O O FU N O S !C R Y OF SA N .A l A N CA P I S l i i H t O OT H E R CIT Y FH : I U T I E S ) so so 10 so so 10 10 so so 10 - I'A Y . J \ $ - Y O U - G O FU N D S T O C U S D ~ $2 1 1 , 2 1 1 1 ~ 12 2 5 , 1 8 1 1 ~ ~ ~ 12 3 1 . 1 7 4 ~ $247,11111 NE T AN i f U A L DE B T ll e M C E 11 . 1 1 7 . 2 3 1 11 . M U I 2 11 , 1 1 0 , 1 1 1 4 SI , I I 2 8 , 4 C 7 I1 . 1 1 7 . « D D S2 , 0 I I I I , J 7 7 S2 , l l 4 a , I D e S: Z . D I I 1 . G S:Z,I21,1M S2, 171,7117 CU I I I A A T l W I I O N D P R O C E E D S I P A Y . J \ $ - V Q U . O O F O R 11 . 0 0 0 . 0 0 0 11 , 0 0 0 . 0 0 0 sa. o o o . o o o 58 . 0 0 0 . 0 0 0 $6 , 0 0 0 , 0 0 0 11 1 . 0 0 0 . 0 0 0 31 , 0 0 0 , 0 0 0 sa . o o o . o o o 111.000.000 11.000.000 IN C R E M E N T A l . PA Y i o l e N T OF P I J I C H A S E PR I C E RE : 8J H M S I S i l 1 ! - SU U ' l i J S I I I l E F I so so so so so JO so so so so CU M U U i T I I I I ! IU R P I , I J S I I D E F I C I I ) so so so so so so JO so so so -V Q : r SD t • 1 C E SC ' I a D I . . I U AIS U U E S M A K " H I _., . n s : s r r n . t t ~ D I /f Q t i D I ' A D . I n - 7 3 - CU S O CF O No . 20 Q S . 1 ~l s ! > e M u Hm s ) : 54 Dn l l l - IJ n a u d n e d Pege7 FI S C A l . YI ! N I · c:o u . E C 1 1 0 N OF TM E S .Z U 1 . . S Z ~ ~ 21 1 3 4 4 8 - - . u 20 1 7 - U 10 R - 3 I .zuuo -..1 c:A l . E N I I A R YI! N I • PA Y I I E N T S lO BO N D HO l D E R S ZO S 2 20 ~ 2C 3 4 - - 20 S 7 - --JIM1 y AV E f ! A G E AN N U A l sp E C I A L TA l ( ~ PII O I ' E R T Y . PI! R AC I I I ! 1- 0 1- 0 1- 0 1- 0 1-0 1- 0 1- 0 s.o s.o 1-0 -. - u e m A L PR O P E R l Y , PE R AC 1 1 1 ! so so so so so so so so so 10 RP I D E N I W . PR O P E R l Y , PE R UN I T CI J I S S 1 CU S T O M HO l i E S S2 0 , 1 1 5 8 12 1 . 0 7 1 12 1 ... !1 2 $2 1 , ! 1 2 2 12 2 . 3 8 1 m . - 12 : 1 . 2 1 1 0 $2 3 . . 7 2 1 124.200 124.8118 CI A 8 8 2 RE I I I D E H T W . c> 4.4 1 1 0 SF ) $1 2 . 7 1 7 S1 3 . o . 2 11 3 . 3 1 1 : 1 11 3 , 1 e S1 3 . M 1 ,, . _ 1 1 7 $1 4 . 4 0 0 S1 4 . 1 N 114.182 115.281 CI J I S S 3 R£ l l l l l S i t W . (4 . 3 0 1 • 4.1 1 0 0 SF ) 11 1 . 6 7 2 11 1 , 1 1 0 8 11 2 , . . . 11 2 , 3 1 1 1 1 $1 2 . 1 1 3 4 $1 2 , 1 1 8 1 $1 3 , 1 4 5 $1 3 . - 113.178 $13,141 CI J I S S 4 RS I D E N T I A L (3 , 1 1 1 1 • 4. 3 0 0 SF ) S1 1 . 3 S I St u n 11 1 , 1 0 1 $1 2 , 0 4 5 S1 2 . . 2 M $1 2 . 5 3 2 $1 2 . 7 1 1 2 11 3 . o : l l S13.28t 113.$65 c; u . s s s RI! S 1 t l l ! l f l W . (3 . ' 1 1 1 · 3.1 0 0 SF ) $1 0 . 1 5 7 11 0 , 7 S l l 11 0 , 1 1 4 $1 1 . 2 0 0 $1 1 , 4 2 1 1 $1 1 , 1 1 5 8 ., , . .. $1 2 . 1 2 7 112.370 112,117 CI J I S S 8 RE I I I D E H T W . (3 . 4 1 1 1 - 3, 7 0 0 SF ) $1 0 . 3 7 4 11 D . 5 1 1 110 , 7 1 1 : 1 111 . 1 1 0 1 1 11 1 . 2 2 1 1 11 1 , 4 5 3 111 . 1 1 1 1 2 11 1 , 1 1 & S12.154 112.H7 a. . A S $ 7 AI ! S I I l E N ' I W . (2 . 1 1 1 1 • J,.C O O SF ) 1$ , 1 1 1 1 SID , 0 1 1 6 11 0 . 2 1 1 7 11 0 . 4 7 2 s1 o . e a z 11 0 , 8 1 5 11 1 , 1 1 3 11 1 . 3 3 5 111,11112 111,7113 CI. A S $ 8 RE I I I D E H T W . , .. 2.1 1 1 0 SF ) S9 , 1 7 1 u. a z $9 , 5 4 9 $9 , 7 4 0 S9 . 8 3 5 11 0 . 1 3 4 11 C U 3 7 11 0 . 5 4 3 110.754 $10,96!1 YJ M6 J ! I M U M SP E C I A L TA X C S UN D E V E I . O P S I PR O P E R 1 Y (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (SO) (SO) (SO) NO J U I E I I D I N T W . PR O P E R l Y so so so so so so so so 10 so RE I I l 1 l E i f 1 V I L PR O P E R l Y aA S ! I 1 CU S T O M HC I M ! S 13 0 t , 8 1 a 13 1 8 , 0 1 1 2 S3 Z 2 . 3 8 4 13 2 8 . 1 3 1 13 3 5 . 4 0 8 $3 4 2 . 1 1 6 $3 4 1 1 , 1 1 5 1 1 $3 5 5 , 1 3 8 $363.056 1370,317 a. A S I I 2 RE S I D E N T W . c> 4,8 0 0 SF ) 11 4 1 1 . 1 5 3 I I Q - 11 4 8 , 3 3 8 11 4 9 . 3 1 2 11 5 2 . 2 4 1 1 $1 5 5 . 2 1 1 2 $1 1 8 , 3 1 8 11 1 1 , 5 6 8 1184,718 Sltii,ON aA S ! I 3 RE ! I I D I ! N T W . (o t . 3 0 1 - ·- S F ) S3 8 o . 1 1 2 13 5 7 , 1 8 5 S3 M , 3 0 1 13 7 1 , N $ 13 7 1 . 0 2 7 13 1 1 1 , 8 0 7 --- 14 0 2 , 2 2 1 1 5410.271 S411,o178 CV . S S 4 RE I I I D E H T W . (3 , 1 1 1 1 - 4. 3 0 0 SF ) $1 3 8 , 2 0 4 11 3 8 . 1 2 8 11 4 1 , 7 0 7 11 4 4 , 5 4 1 11 4 7 , 4 3 2 11 5 0 , 3 1 1 1 11 5 3 . 3 8 8 $1 5 8 . 4 5 6 $151.585 $182,n6 aA S ! I S R£S I D I ! H T 1 A L (3 . 7 1 1 1 • S.I O O SF ) I2 8 5 , I I 5 Z S2 1 0 , 7 5 3 1i2 1 1 1 . 5 8 8 13 0 2 . 8 0 0 S3 0 U 5 0 13 1 4 . 7 2 1 13 2 1 . 0 1 6 13 2 7 , 4 3 5 ~ .... 13411.184 a. A I I S 8 RE ! I I D I ! N T W . (3 . 4 1 1 1 · :1 . 7 0 0 SF ) S2 0 7 , 4 7 3 $2 1 1 . & 2 2 12 1 1 . 1 8 5 12 2 0 . 1 7 2 12 2 4 . 5 7 5 S2 2 t , 0 8 7 12 3 3 . 8 4 1 1 12 3 8 , 3 2 1 S2Q,0118 S247,MI CV . S S 7 Rl!l l 1 1 l 6 N T 1 A L 12.1 1 1 1 -3.4 1 1 0 SF ) S2 9 8 , 0 C Z $3 0 1 , 1 1 8 3 13 0 8 , 0 0 2 13 1 4 , 1 1 2 SS 2 0 . 4 4 5 SS 2 8 . I 5 4 $3 3 3 . D t S3 4 0 . 0 S 9 SMI.-1353,797 a. A I I S I RE ! I I D I ! N T W . , .. 2.1 1 1 0 SF ) Sl t , 7 9 9 $9 : 1 , 6 2 2 sti 5 , 4 M $9 7 . - $9 1 1 , 3 5 2 11 0 1 . 3 3 9 St G : I , E I I 11 0 5 , 4 3 4 1107,842 S10$.1G - - - OJ lO T A L - U M S P H C I A L TA X I ! S $1 , 1 1 7 , D I $1 , 1 1 3 , 1 1 2 St , I I C I , I M $1 , 1 2 S M 7 ., __ _ sz . - . m sz . o - . - $2 , 0 1 7 , 4 3 8 S2,121,1M SZ.171,7S7 I 00 )I l l QE I T lW M C I ! CQ I I E B A G g GR O S S CE l i T li E I M C E CO I I E R A G E FR O M 1S T DO N I ) Nl D 70 UN I T S ' 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 7 % 11 : u n . 11 3 . 2 7 % 11 3 . 2 7 % 11 : u n . 113.27% 113.27% GR O S S CE l i T li E I M C E C O I I E R A G E • 1 1 0 . - 1 1 0 - 11 0 . 8 4 % 11 0 . 8 4 ! 1 11 0 . 8 4 % 11 0 . 8 4 % 1 1 0 - 11 0 . - 110.84!1 110.8411 NE T CE l i T li E I M C E CO I I e R M & : - 11 3 . 8 3 % 11 3 . 1 7 % 11 3 . 1 2 % 1 1 3 - 1 1 , _ 11 3 . 3 6 % 11 : 1 . 3 0 % 11 3 . 2 5 1 1 113.111% 113.1411 • JL 4 J : ' U I U I » a : u u . . T A I D ' u : J S ( ' ] I ' Z ) M » > I N l J 1 1 U t r O N . n n 7 n l n n r w l U ' n o r . s o H C X -N . t . I D i t f o l S I ' l C A ( . T A l Z S I D S C ' F D ~ V / f J . l J I U ' i S I J U J : ~ I l n J O I E D a T G J I O $ S L l O T . S i i J I J 1 Q ' CU S D CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 54 Dr a f t • ll n e u d H e d Page8 Flt i C . t l l . YI! A R · CO U I ! C 1 I O N OF TA I C E S 20 0 1 - 4 2 :z o q . . q :l o u . M - - ~ 7 lO T A L CA U ! N I I A R YI! A R • .P A Y I I I S m l TO ~ H0 1 . D E R 8 - 20 Q - - - 20 4 7 L CF D BO N D E D !N Q E m D N E s s cu s o OT t E R FA C 1 U T I E S so so so so so so S. . t 2 2 . f 8 5 IN C R E M S f T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H I H S / S I T E so so so so so so 15 . 2 1 8 . 1 3 2 CIT Y OF SA N JU A N CII P I S ' T I W f t ) PU 1 1 . 1 C FA C I U T I E U . FE E s so so so so so so .. . 79 1 . 2 1 1 3 cm E R CIT Y FA C I U T I E J I so so so so so so ~ TO T A L FtH N « : E D PI J B U C fA C I U T I E s so so so so so so $1 5 . 1 1 8 3 . 3 & 8 TO T A L IIO N O E D I N i l E I J T B ) N e s s so so so so so so ~. 0 5 5 . 0 0 0 II. AI& Q B P T ! O N ·l l l l i . P I I I I G ~E B M I D Il l !I f jl l J • UN D E V E L O P I ! D PR O I ' £ R T Y RE M M I I H G I J N i l E V B . O P E D ~ C R E A ~ ; E to . O ) D E V E L O P E D - PR O P E R T Y to . O ) (1 ) . 0 ) to . II ) 0.0 0.0 NA CIM U l A T I V E ~D S m A I . A C R ! f N > E 0. 0 0. 0 0.0 0.0 0. 0 0. 0 NA D£Y I ! I . O P I ! O RE S I D e H 1 W . PR O I ' E R T Y CI . A $ S 1 CU S T O M HO M E s 15 15 15 15 15 15 NA CI . A $ $ 2 RE S I D E N T W . (> 4.8 0 0 SF ) 11 11 11 11 11 11 NA CI. A $ $ 3 RE S i t l E N T I A I . (4 . 3 0 1 • •. 6 0 0 SF ) 30 30 30 30 30 30 NA CI. A $ $ 4 RE I I I I I E H I I A L (3 . 1 1 0 1 • 4.3 0 0 SF ) 12 12 12 12 12 12 ... . CI. A $ S 5 Ra i i ! I E N 1 1 A l (3 . 1 0 1 • 3.1 1 0 0 SF ) 27 27 27 27 27 27 NA ci - ' S S I Re l i i D E H l W . (3 . 4 0 1 • 3.7 0 0 SF ) 20 20 20 20 20 20 NA CI . A $ S 7 RE S i l l E H T I A L (2 . 1 1 0 1 • 3, . 0 0 SF ) 30 30 30 30 30 30 NA cv . s s e Re l i i ! I E H l W . ( < > o 2.1 1 0 0 SF ) _ _ _ l_o _ _ _ 1_o _ _ _ l_o _ _ _ 1_o _ _ _ 1_0 _ _ _ 1_0 ~ C l U A A T I V E ~ UN I T S 15 5 15 5 15 5 15 5 15 5 te e ... . • a. . . .. . . . . . . . . . . . . . . . . . . . . . . . , ~ .. . . . . . co I UJ. ME L L < H \ O O S SP E C I A L TA W ! ~ II N D E V B . O I ' E D P'R O P E I I T Y II ' E C I A L TA X E ! I so so so so so so so ~P R O P I ! R T Y I I P I ! C I A L TA I C E S so so so so so so so II D I I I ! H 1 W . PR O P E R l Y II' E C I A L TA I C E S CI . A $ S 1 CU S J l l l l l t O I I E s 13 7 7 , - n l 13 8 5 . 2 7 8 S2 7 0 , 8 1 8 -. e . J s. o u e o 11 1 1 7 . 1 1 1 8 $1 1 , 4 1 5 . 2 3 4 CI . A $ S 2 RE S I D I ! H ' I I A L (> 4.1 1 0 0 SF ) $1 7 1 . 4 5 5 11 7 4 , 8 8 5 $1 2 2 . 1 1 1 • $1 8 1 , 1 1 5 0 11 8 5 . f 8 1 1 $11 1 1 , 4 1 1 4 S.. 4 1 1 , 8 2 D CI . A $ S 3 RE 8 I D E H T W . (4 , 3 0 1 · 4. « 1 0 S F ) S4 & 8 4 8 14 3 5 . 3 1 : 1 13 0 8 . 1 2 5 14 5 2 . 1 1 7 2 14 8 2 . 0 3 2 12 2 2 . 7 9 1 1 11 0 . 1 7 1 , 1 1 1 CI . A $ S 4 RE S I ! l B f r W . ( U 0 1 · 4 . 3 0 0 S F ) 11 e i i , 0 3 2 l1 1 1 t . 3 1 3 11 1 1 , C J 1 5 $1 7 8 , 1 1 1 4 11 7 9 . 7 1 1 11 8 . 1 1 8 3 S.. 2 1 1 1 , 1 2 2 CI . A $ S 5 Rl! l l l l l i ! H T W . (3 . 7U 1 • 3,1 1 0 0 SF ) 13 4 7 , - 7 7 13 1 4 . 4 2 7 12 4 1 . 2 1 1 3 13 6 1 . 7 4 1 13 7 8 . 1 2 0 11 8 1 , 3 7 2 18 , 0 3 2 , 1 1 4 ct . A U I Rl! l l l l l i ! H T W . p, - o 1 • 3. 7 0 0 SF ) 12 5 2 . - 12 5 7 . 1 1 1 11 8 1 . 3 8 0 -, 3 8 8 12 7 3 , 7 1 & 11 3 3 , 0 1 0 t& . l l 2 2 . 1 7 1 Cl A 8 8 7 RE I I I O B f T W . . (2 . 1 1 1 1 - 3 . .0 0 SF ) s- . 8 7 : 1 13 & 8 , 0 1 1 1 12 5 1 . 8 1 1 13 8 2 , 1 1 1 2 13 1 1 0 , 1 2 1 11 8 8 , 3 6 0 1!1 , 3 & 2 , 1 9 7 CI . A $ S 8 RE S I D I ! H n A L I < - 2.1 1 0 0 SF ) 11 1 1 . 8 8 7 11 1 4 , 1 2 5 18 0 . 2 4 3 11 1 1 . 7 3 1 $1 2 1 . 1 1 0 15 1 . 4 0 1 12. ! 1 2 1 1 , 7 3 4 TO T A 1 . 8 1 ' £ C W . T A l i i ! S SU 1 1 . 2 0 3 SU i t . S 0 7 SI . A U 9 7 S2 , J J G , 7 1 1 SZ , 3 1 7 , 1 0 8 11 , 1 S I . Z U ur . - . . . . N SP E C I A L TA l ( BE O I U B E M E N T NE W IIC N D E D IN D E I I T B l N E & 8 so so (S 7 . 1 & 0 , 0 0 0 ) so so ($ 1 2 , 8 1 1 5 . 0 0 0 ) 12 0 , 1 1 5 5 . 0 0 0 NE W RS I E R I I E F U H O so so ~ so 10 ~ ~ AN N U A L DE B T SE R V I C E · SE I U E S A I7 1 2 . N I I 17 2 1 1 . 8 1 1 17 4 1 , 1 5 1 so 10 so 11 8 . 1 5 1 , 7 3 2 AN N U A L DE B T SE R V I C E · 8E I U E S B 11 . 2 0 9 . 3 0 0 11 . - . . e e 11 . 2 5 8 . 1 1 8 11 . 2 S U I I 11 . 3 0 1 . 1 8 : 5 11 , 3 3 5 , 1 4 1 $ $3 1 , 0 4 1 , 4 1 1 0 AN N U A L OR 0 8 S DE B T SB I I I I C E 11 . 1 1 2 1 . 1 1 1 11 . 1 1 1 0 . 3 0 5 11 . 1 1 1 1 . 5 1 1 $1 . 2 1 3 , 3 1 1 1 S1 , 3 0 1 1 . 1 S 5 11 . 3 3 5 . 1 8 5 S.7 . 1 1 1 7 . 2 2 2 CF D AD M l N I S ' I I U I T I O N se a . 7 1 2 II D . I 8 I I $1 1 2 . 3 7 1 $1 1 4 . 2 2 7 · 11 1 1 . 1 1 2 11 1 1 , 0 3 4 12 , 4 1 1 , 7 2 4 RE E I V E FU N D IN 1 1 ! I I E S T (li ' l l o DE I . I N O U E N C \ ' ) (1 4 1 ' , 1 2 1 1 ) (1 4 7 , 1 2 1 1 ) (1 4 7 . 1 2 1 1 ) (S 3 0 . 3 0 3 ) (1 3 0 . 3 0 3 1 ($ 3 0 . 3 0 3 ) (S 1 , 3 3 1 . 4 4 1 ) CA P I T A L I Z E D IN I B ! I I S T so so 10 so so so (S 1 . 2 1 1 3 , 3 0 U ) PA Y - A S - ' I t J U . G O F \ I H D 8 ( 1 N C 1 I B I B C r A L PA Y I E H T OF fiU R C t 1 N i e PR I C E RE : ~ so so 10 so 10 10 Sli i S . . I I I I I PA Y - A S - Y O I J . G O F \ J H D S (C I T Y OF SA N . A W l ~ PU 8 U C FA C I ! . I T l E & N1 I 1 FE E S ) so so so so 10 so 17 2 2 . 2 0 5 PA Y - A S - Y O U - G O F\J H D 8 (C I T Y OF SA N J U A N CA P I S T R N I O OT H E R CIT Y FA C 1 U T 1 E S ) so so so so 10 so -- RE M A I N I N G "" Y - A S - ' I O U - G O FU N D S TO C U S O ~ ~ 12 5 1 1 , 1 1 3 5 ~ ~ 11 . 0 4 2 . e l l 7 ~ NE T AN N U A L D E B T i a M C e SU 1 1 . 2 0 3 SU i t , $ 0 7 II . I I U I 7 S2 , J J G , 7 1 1 SU i f . I M l1 , 1 S I . Z U U7 , 1 ! 1 8 . 5 o M CI M M T I V E IID N I ) P R O C E E D S I P A Y - A S - Y ® . Q O FO R 11 1 1 . 0 0 0 . 0 0 0 11 1 1 . 0 0 0 . 0 0 0 11 1 1 . 0 0 0 . 0 0 0 111 1 . 0 0 0 . 0 0 0 111 1 . 0 0 0 , 0 0 0 16 . 0 0 0 , 0 0 0 ... . IH C I I E I I ! i N T A L PA Y M E N T OF PU I O W l e PR I C I ! RE : &.II 1 I H S I I 5 I T E AN N U A L S U R I ' I . J J I I / I C S so so so so so so NA CU M U I . A T M ! ll J R P W I I I I D E I ' 1 10 so so 10 so s o NA - bl : l l t S t l l d J Q " X ' I I E D V U ,IJ f f ; S U J . I D J U I C ' N I A\ I D . W 1 J i i 1 G l n t ll t i ' J N ( ) I ' A ~ - CU S O CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 54 Dr a f t - Un a u d l l e d Page9 - Y!A R - C O I . L I ! C 1 1 0 f C O f ' T - - 1 - C 20 Q . . U JI M M 4 - - - TO T A L CA I . I ! N D A i t YE A R - PA V I I ! N T S 10 II O N r l l f O I . . D E R S - 20 U - - - -7 V. &y E B A G E AN N U A L Sp i ! C ! A L TA X II N D E V E U I P E D PR O P E R T Y , PE R AC R E s.o s.o s.o s.o s.o 10 NA -. - M L P I I 0 9 E R 1 Y , PE R ~~a ~ £ 10 10 sa sa sa sa NA RE S I D a V 1 1 A I . PR O P E R l Y , PE R UN I T CI A S $ 1 CU S T O M HO M E S 1:1 5 , 1 1 2 12 1 , 1 1 1 5 11 8 . 0 6 0 12 8 . 7 2 : 1 $2 7 ~ 7 11 3 . 1 0 4 NA CI A S $ 2 ~( > 4 J I O O S F ) $1 $ . 5 8 7 S1 U 9 9 11 1 , 1 7 1 1 11 1 . 6 4 1 11 1 . 1 7 2 $1 , 1 3 8 NA CI . A S S 3 RE S I I l i ! N l W . (4 , 3 0 1 - 4. 6 0 0 SF ) $1 4 . 2 2 1 $1 4 . 5 1 3 11 0 . 2 0 4 11 & , 0 1 8 $1 5 , 4 0 1 S7 , Q 7 NA CI A S $ 4 IIE 8 I D I ! N T l A I . (3 , 1 0 1 - 4,: 1 0 0 SF ) 11 3 , 1 3 8 $1 4 . 1 1 3 ll , t z : l 11 4 , 1 8 3 11 4 , 1 7 7 17 . 2 2 2 NA CL A S S I Re l l l l l e H T 1 A I . (3 . 7 0 1 - 3. 1 0 0 SF ) 11 2 . 1 7 0 $1 3 , 1 2 7 $1 , 2 3 0 11 3 M l ' 11 3 . 8 3 0 38 . 7 1 7 NA CL A S S 8 RI! I I D E N T I A I . (3 . « 1 1 -3. 7 0 0 a , 11 2 . 8 4 5 11 2 . 8 1 8 SI, Q I I I 11 3 . 4 1 8 $1 3 , 8 8 8 se . e o o NA CI A S $ 7 IIE 8 I D I ! N T l A I . (Z . I O I - :1 , 4 0 0 SF ) $1 2 , 1 1 2 8 S1 2 . Z 7 0 S8 . 8 2 7 $1 2 . 7 8 5 11 3 . 0 2 1 11 . 2 7 9 NA CL A S S I IIE 8 I D I ! N T l A I . ( .. 2.1 0 0 SF ) 11 1 , 1 8 1 1 11 1 , 4 1 2 18 . 0 2 4 $1 1 , 8 7 4 $1 2 . 1 1 1 15 , 8 4 0 NA \I I MA X I M U M SP E C I A L TA X E S UN D E V E I . D I ' E D PR O P E R T Y ($ 0 ) ($ 0 ) (1 0 ) (1 0 ) (1 0 ) sa 17 . 5 0 9 , 4 8 1 -. - M l . P R O I ' E R 1 Y sa sa 10 sa 10 sa sa RI ! S I O B i t W . . PR O P E R T Y CI A S $ 1 CU S T O M HO M E S S3 7 7 , l 2 0 13 8 6 . 2 7 1 13 1 2 . 1 1 4 14 0 0 . 1 4 3 -·- 14 1 7 . - 18 , 7 5 7 . 2 0 1 CI. . A S S 2 IIE I I I D E N T W . (> 4,& 0 0 SF ) 11 7 1 , 4 1 5 11 7 4 . 8 8 5 11 7 1 . 3 1 1 2 11 1 1 . 1 1 0 11 8 5 . 5 8 e 11 $ 1 , 3 0 1 14 J I 7 . D & A CI A S S 3 IIE I I I D E N T W . (4 , 3 0 1 - 4,6 0 0 SF ) SC 2 8 , 8 4 I I 14 3 5 . 3 1 3 -. 0 8 0 -. m S4 8 2 J X I 2 14 7 1 . 2 7 2 I1 U I I 2 . 0 5 0 CI . A S S 4 RE . S I I l E N 1 ' W . (3 . 1 0 1 -4.3 1 1 1 1 SF ) 111 1 & , 1 1 3 2 11 8 9 , 3 1 3 11 7 2 . 7 4 0 11 7 8 . 1 $ 4 $1 7 9 . 7 1 1 11 1 3 , 3 1 3 14 . 4 1 1 . 4 3 7 CI . A S S 5 II E I I I D I ! N T I A I . ( 3 . 7 0 1 - U O O B F ) 13 4 7 . 4 7 7 11 5 4 . 4 2 7 13 1 1 . 5 1 5 S3 1 1 1 , 7 4 5 S3 7 8 . 1 2 0 S3 l l 3 . 8 4 3 18 . 3 4 8 . 7 3 8 Cl A S S I Rl! l l l t i i ! N T U I . ( 3 . 4 0 1 - 3 . 7 0 0 B F ) SZ I U 0 8 12 5 7 . 1 8 1 1 $2 1 1 3 , 1 2 1 I2 I U I I 12 7 3 . 7 5 1 12 7 9 . 2 3 1 S8 . 1 5 1 . 1 3 7 CI . A S S 7 IIE I I I D E N T W . (2 . 1 0 1 -3,4 0 1 1 SF ) sa o , m S3 1 1 1 , 0 1 1 13 7 5 . 4 5 3 13 1 1 2 . 1 1 1 2 S3 1 0 . e 2 1 $3 1 1 8 , 4 3 3 $1 . 8 1 1 1 . 7 0 1 Cl A S S I IIE I I I D E N T W . I< - 2.1 0 1 1 SF ) 11 1 1 . 8 1 7 $1 1 4 . 1 2 5 $1 1 1 . 4 0 7 11 1 1 . 7 3 5 11 2 1 . 1 1 1 1 11 2 3 . 5 3 2 13 . 0 2 1 . 0 2 1 OJ -- - - - - - - - - - - - - - - - - - - - I TO T A L MA I I I M U M 8P I ! C I A I . I - S2 , 2 t 5 , 2 m SU 5 1 . 1 0 7 II U I I U I 7 12 . M Q , 7 9 1 sz . m . - 12 , 4 4 1 . 7 U IM , I A . 8 3 3 ~ 0 Yll Df ! B T SE f M C . I ! CQ Y ! ! M G E - D E B T IE R I I I C E C O W R I I G E FR O M 1S T BO N O AN D 70 UN I T S " 11 3 . 2 7 1 1 . 11 3 . 2 7 1 1 . 11 3 . 2 7 1 1 . NA NA NA NA -D E B T IE R I I I C E CO V C R A G E • 11 0 . & 1 % 11 0 . 8 4 % 11 0 . & 1 1 ' 17 8 . l l a l o 17 5 . 1 4 % 17 5 . 8 4 " - NA NE T DE B T IE R I I I C E ~ - 11 3 . 1 1 1 1 ' 11 3 . 0 f t 11 3 . 0 1 1 1 ' 17 1 . 2 0 1 ' 17 8 . 1 5 1 ' 17 8 . 1 1 % NA • UU D # f M » s : : J A L r A I D U S S C J I D A D A I I I I I S T J U n O N . Oll ' m l i n l l r C W l U D D T J ' J i l l m C E - u. u : z u t t t - " " l r l M . 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I M C : E & A I : I M I M I T I I A T I O N So i 7 , 1 T U > V ... . Y_ . . . ' R J U . G O R I N D S - - A L ~ A ' I I O I ! N T O f ' P I I I I a 4 A I I : I ' I I I C 2 R ! : - . - n l 11 0 1 _ , . . .. . . . , . , . PA Y . - . . " f f U . . O FU N 0 S TO CU I D 11 1 .. . . . 11 1 ,. . . _ , _ _ _ _ CIT Y O I ' I A I I J U M C A P I I T I I M O P I I J I U C F A a l J T I I 8 N I D F E E 8 11 2 0 , 0 1 0 I' A Y _ ' f O U . O O _ I ' O R C I T Y O I ' I A N J U M - O T M E R O T Y F " " ' ' ' . m i ! S - ~U A N m U a - N U U 113 . = to T A L i i t i ' Dil i T i i ! I M C l iD ' ~ 11 3 , 1 Q Z ... ., . 17 , 1 5 5 11 - 17 , 1 0 1 5 •.. , •• 11 1 ll l l 7 7 rp m t p n JR 1 9 . " IU II 6 T Q m BA S E PR O P i i R T Y TA X AA T E SN r 1 AM CN ' t $ ' 1 " f W C ) CIT Y 00 BO N O S _. , c a r IE l M C E CM ' I m w « l IIN I F I £ 0 IC H O O I . DIS T R I C T SA D NO 1 MO S Q U f O , F I R E I < I I f _ , . . ~ CC N ' I I O O I . C H M G E W0 8 T A H ! l 8 Y ~ Mlf W I M PD T B'Y K Z 'A Y C ! W i f GR O I S C O V E l t A G E ( I I T I I C l f C I ~ A H t J 1 1 > 1 0 U > U N T S I OR O S t C X I ' I e i M ! i ( A T I I U I \ D O U I ) NET ll e i i T IE J I V I C £ CO ' I B I . I G E G N ! D - T A X :A t . ftM 2 D 1 1 . a o t l l £I . & IQ W CrT a rp 0 . ~ 1 . ~ D7 7 1 f t 1.1 1 2 5 0 W . 0.1 1 1 8 % · - - a: n t n t.I Z S O ' M o a.n u : ' l . t II:Z I O ' W . 0.7 7 1 4 % · - - Cl 7 7 1 f t 1.1 2 5 0 ' M . D7 7 1 2 ' t l o 1 II2 ! I I N . 1.CXIOOO% O.D3SI7% ·-D.D1105% ..... S112 110.01 11Ganlo 110Jml. ,,,_...,., D e W I . O P I D - I I ' E C W . · - 117.A12,W D E I I E I . a ' E D - - U I ! Q A L T A X D ., - - I O ' I ! D I L T A X D SO 1'D f i £ IH d l i i TA i d DfO«iU CU I D (I N C I U I B I T A L PA ' I I I ! N T 01 ' - "" ' C R! : SMMIIIII'I!I !e y s . m u m s m q s F ! ! J . . , . ' " ' & " D i f l f X C : U : P ' ' P n " ! ! " " " B r · 1 , 1 1 1 f t : W R ! J TO T A L - O f ' ~ - . : s A L .. . . . . . ,,1 ) -O f ' I ' A Y . - Y C U 4 0 F C R D I C A 2 M I H T A l " " Y I I E N T O F P I I I I C I I O I I E I ' I I I C E R!:- -O f ' - N I N i a P A Y _ _ _ TO C U I D f , l ) ..._... IIIIUil -10 -.m N.Gt.AZJ K ~ , . . , . . . . , ........ 1Z1 CU S O CF O No . 20 0 S - 1 (W l l s p e r t n g HiD s ) : 54 On l f t • Un a u d i t e d Page2 FI S C I I L 'I I ! M - ~ O F T A X E S 20 1 1 · 1 2 20 1 Z · U 20 1 ~ 1 4 20 1 .. . 15 20 1 S . 1 6 20 1 S . 1 1 20 1 7 · 1 1 20 1 1 - 1 1 ZOtt-211 :IOZO-Z1 CA U N D A R 'I 1 ! M • PA Y I I E N T S TO BO N D IIO U J E i t S Z0 1 2 ZO I , 20 1 4 20 1 5 zo t l zo t l 20 1 1 2011 20ZO 3021 I CF Q BO N D E D !N Q E I T C O N E S S •& E P z o t 4 " •J A N : z o t l " ' CU S D OlM E R FN : : I U T I E S so so so so so 12 . 4 8 3 . 1 7 1 so so so so IN C A E M E H T A L PA V U E N T OF PU I I C H A S e PR I C E Rl! : IU H I H S I S I T E so so $1 . 4 5 1 , 1 1 4 4 so so 12 . 1 4 7 . 1 1 1 2 so so so so CIT Y OF SA N JIJ N I CA I ' I I m W I O PU l i U C FA C I U l T E B & FE E S so so $1 , 2 7 1 , B n so so 12 . 0 1 4 . 2 2 7 so so so so OT M ! ! R CIT Y FA C I U T I S & so so ~ so so ~ so so so so TO T A L I'D W I C E D PU 8 l i C FA C I U T I I ! S so so P,9 D f i , O D D so so 17. 1 1 1 1 1 , 1 1 2 1 1 so so so so TO T A L !IO N D E D IN D E I I T B l N E l i S so so S5 , 3 7 D , O D D so so $1 , 1 5 0 , 0 0 0 so so so so U, AR ! I O R P T I O N ·l l l l i . . D D I Q PE R M m s 11 1 1 1 1 ]I l l ' UII D E V E L O P I ! D P R I I P i i R T Y RE M A I N I N G UN D I ! \ I I l i . O P E O A C R E A G I ! DE V E ! . O I ' E D -- R E 8 1 1 1 1 ! N T W . PR O I ' E R T Y . S$ . 2 44 . 8 31 . 7 17 . 0 (I I .D ) (0 . 0 ) CD .D ) (0.0) (D.D) (0.0) CU M U L A T I I I E N0 H - R E ! I I D E N T 1 A L ~ 0. 0 0. 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 DE I I E ! . O I ' E D IIE I ! I D I ! J I T I A L PR I I P i i R T Y Cl A S S 1 CU S T O M HO l i E S 0 0 0 0 15 15 15 15 15 16 CI A S S 2 II E I I I D B m A L (> 4, 8 0 0 SF ) 0 2 5 I 11 11 11 11 11 11 Cl A S $ 3 RE S I D E N T I A L 14 . 3 0 1 · 4. 8 0 0 SF ) 0 6 13 21 3D 30 3D 30 30 30 Cl A S S 4 RI! I I I D E I ' n W . (3 . 1 1 0 1 • 4.3 0 0 SF ) 0 2 5 I 12 12 12 12 12 12 Cl A S S I II E I I I D B m A L (3 . 7 D t • 3.1 0 1 1 SF ) 3 8 15 23 Z1 Z1 Z1 27 27 27 ClA S S I RI! I I I C I ! H T W . (3 , 4 0 1 · 3.7 0 1 1 SF ) 4 I 13 18 3D 20 20 20 20 20 Cl A S S 7 RE S I D E N T I A L C2.! 1 1 1 1 • 3 . - SF ) 3 I 18 24 3D 3D 30 30 30 311 ClA S S I RI! S I D E N T W . , . . 2.t i i D &F ) _ _ _ 2 4 -- - · __ _ , _ _ _ 1_o _ _ _ 1_o _ _ _ 1_11 _ _ _ 1_0 ___ 1_o ___ 1_o CU M U L A T M ! II6 I I I D & N 1 W . UN I T S 12 38 73 11 1 15 $ 15 5 15 5 155 155 155 ·c . - . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. _ . . . .. . . . . OJ I j.- . . 1 . UJ ME L L Q . R Q Q S lp g g A L I ! J f ' N -I ' I I O P S R T Y I I P I ! C W . TA X a so so so so so so so so so so ~ P R O I ' I ! R I Y ~ T A X E S so so so so so so so so so so RE 8 1 D B f 1 1 A L P I I O I ' I ! K T Y I I P I ! C W . T A I I E I I Cl A S S I CU S T O i o l HO l i E S so so so so so $2 3 0 . 2 3 4 12 3 4 , 1 3 1 $2 3 1 , 5 3 & SU1,3211 S2AI.21, Cl A S S 2 RI! S I D E N T W . (> 4. 8 0 0 &F ) so so 1 1 7 . - 14 5 , 1 1 5 1 $7 4 , 5 1 1 11 0 4 , 5 0 7 11 0 1 , 5 1 8 $1 0 1 . 7 2 9 $110.804 $113,122 ClA S S S AE I I I D E H l 1 A L IC . J O I · 4.1 1 0 1 1 &Fl so so $4 9 , 0 3 4 $1 0 1 , 3 6 5 $1 7 1 , 1 1 5 2 12 1 1 0 , 1 7 1 S21 1 5 , 3 7 1 1 SZ 1 0 . 8 8 7 1271.100 $211,123 Cl A S S 4 Al! I I I D e i T W . (3 . 1 0 1 • 4.S O O &F ) so so 11 5 . 1 9 4 S4 G . , 5 3 0 $1 1 , 1 4 1 11 0 1 . 2 0 2 11 0 3 , 2 2 1 1 11 0 5 , 2 9 1 1 1107.3911 1101.544 ClA S S I Al! I I I D e i T W . (3 , 7 0 1 • 3. t o o &F ) so · 12 1 . 7 4 1 Slt . 1 S 5 11 1 3 . 0 1 1 11 7 1 . - $2 1 1 , 7 $ 1 S2 1 8 , 0 3 4 S2 2 D , l 5 5 1224.712 1221.257 ClA S S & RE S I O E K T 1 A L (3 . 4 0 1 • 3.7 0 1 1 &F ) so $2 1 , 4 8 3 S5 8 . 1 0 1 11 8 . 3 1 0 11 3 6 . 0 1 1 $1 5 4 , 1 5 $ 11 5 7 . 2 3 1 11 8 0 . 3 8 3 $11U11 ., ... Cl A S S 7 II 6 I I I D & N 1 W . (2 . 1 1 0 1 • :s . - &F ) so 12 0 . 3 2 1 S8 2 . 1 D 11 1 2 . 7 U 11 7 2 . 6 2 0 S2 1 U 8 3 12 2 4 . S 8 : 1 12 2 1 . 8 5 0 S2S3.4Z1 S236.0I5 ClA S S I - (" " 2.t i i D & F ) so $1 2 . 8 0 1 12 5 , 7 0 1 13 8 , 3 3 0 JI I 0 . 1 7 5 18 1 . 1 " $1 1 . 5 8 3 17 0 . 1 5 4 172.373 m.azo TO T A I . I I P E C I A L TA X E I I so $8 3 , 1 4 1 $2 1 7 , 1 8 3 11 1 1 1 , 0 4 1 ... . . , I I 11 , 3 5 0 . 2 3 4 $1 , 3 7 7 , 2 3 1 11 , 4 0 4 , 7 1 4 $1,432,1711 S1.41t.Sn !V SP E C I A L TA X RE Q W B E M E N I NE W BO N D E D IN D E I I T E i l N E S S so so SU 7 D . O O O so so SI, I S D , O D D so so so so NE W RE S E R I I E Fl . t O so so 15 3 7 . 0 0 0 so so ma. o o o so so so so ~ D E B T SE R V I C E · SE R I E I I A so so so S4 2 9 . I I D I I $4 2 1 , 8 0 0 --- 54 2 9 , 8 0 0 14 2 9 . 8 0 0 1423.701 S4S2.175 AN N U A L DE B T SE R V I C E · SE R I E I I B so so so so so 1$ 3 0 , 1 1 1 1 7 S7 S I . O O O S1 I I 6 , 0 D D S1II6,0DD S7SI.ODD - - - - - - - - - - - - - - - AN N U A L - DE B T 8I ! I M C E so so so 14 2 1 . 1 1 1 0 $4 2 1 . 8 0 0 SJ1 1 0 . 2 1 7 11 . 2 2 5 . - S1 . 2 2 5 . a l 0 11.219.7Dt 11,226,175 CF D AD M I N I S I R A T I O N so 11 1 0 . 0 0 0 SS t .D O D 15 2 . 0 2 0 SS : I . O I O 15 4 , 1 2 2 15 5 . 2 0 4 S5 8 . 3 D I I 157.-155.583 RE I I E J M ! I'U N D IH T E R E I I T I n DE U N C I U E N C Y ) so so so so C$ 1 2 . 1 2 1 1 ) C$ 1 2 . 1 2 1 1 ) C$ 1 2 . 8 2 0 ) C$ 1 2 . 8 2 0 ) (138.1102) (138,002) CN ' f T A I J Z B ) IN I B U ! S T so so so C$4 2 9 . 1 1 1 1 0 ) so CS S S O . M 7 ) C$ 2 l l 5 . m ) so so so PA Y - M - Y Q U . G O F \ J N D $ ~ A L P A ' N E H T O F I ' U R C t W I E P R K : E R E : ~ so S t U l l 11 4 2 , 1 7 1 SS O Z . . C t 7 12 3 6 , 1 J 1 1 1 so so so so so PA Y - M - Y O U - G O FU N D S IC i l Y OF SA N . A A ¥ 1 CA P 1 S T R A N O PU I I U C FA C I U T I E 8 AN O FE E S ) so 11 1 . - SD , 4 t 1 11 7 7 . 4 1 8 $1 3 8 , 1 1 5 1 S3 0 I . 4 I 6 so so so so PA Y - M - Y O U - G O FU N D 8 (C O ' Y O F SA N .A A ¥ 1 CA P 1 S T R A N O 07 H E R CIT Y FA C U T 1 E S ) so SU i t 11 1 . 3 7 4 »4 , 1 ! 1 : 1 $1 1 , 9 4 9 14 2 . 1 1 1 1 so so so so RE I I A I N I N G PA Y - M - Y O I J . G O FU N D 8 T O C U S D so so so ~ so ~ 13 7 4 , 3 1 1 8 ~ 1191,748 ~ NE T AN N U A L DE B T II B M C E so $8 3 , 1 4 1 sa 7 , t u - . - 11 5 4 . 1 1 0 $1 , J 8 0 , . J M St . D 7 . 2 3 1 11 , 4 0 4 , . 7 1 4 11,432,1711 S1,41t,A7 CU I I U I . ' T I I I E BO N D P R O C E E D S I P A Y - M - V O U . O O FO R so S1 9 , 6 U 12 . 6 1 3 . 7 1 0 $1 . 1 1 8 , 1 2 1 13 , 1 1 2 . 1 1 8 SI, O D D , O D D SI. O D D . O O O SI. O O O . O D D SI.ODD.ODD SI,OOD.OOO n« : A B B E N T A L PA ' N e f f OF PI J I C w . s e PR I C E RE : SJ H I I 4 S I S 1 T E AN N U A L 8U R P I . U S I ( I l E F I so so so so so so so so so so CU M I A A T I I I E ~ so so so so so so so so so so -DE I I T S B t i 1 Q " . I C J I B J f A J £ A . ! i S l . U I 3 1 t 1 N t a i i A . " ' V ~ I I J C I N V I ' A 1 J d 1 1 1 1 $ - CU S D CF O No . 20 0 5 - 1 ~ g Hil l s ) : 54 On d l • Un a u e ! l l e d Pagel FI S C : A L V I W I - ~ O F T A I I E S 20 1 1 - 1 2 20 1 2 - 1 3 20 1 ~ ' · ZO M - 1 5 20 1 5 - 1 1 20 1 $ - 1 7 Z8 1 7 - 1 t 20 1 1 - 1 1 281-ZIIZO.Z1 CA I . £ N D A R V1 W 1 -P A Y I I ! N T S T O ~ 11 0 U 1 1 ! R S 20 1 Z 20 1 3 20 1 4 20 1 5 20 1 1 20 1 7 20 1 1 2011 ZIIZII ZIIZ1 y AV E R A G E AN N U A L Sp t i C ! A b TA X UN D E ' I E L O I ' B I PI I O P E i n Y , P! R AC R E so so so so so $. ( ) $. ( ) $.() $.() $.() -. - n a i . P R O P I ! R n ' , P E R A C R E so so so so so so so so so so RE S I I I E N I W . PR O I ' E R T Y , P E R U N I T CI . A $ S 1 CU S T O I A H C l U E S so so so so so 11 6 , 3 0 8 I1 6 M e 11 6 . t J e t 111.218 111.1114 QJ I 4 S 2 RE S I D E H T W . ( > 4 , 1 0 0 S f ) so so su s s $1 , 1 3 2 $1 , 3 1 4 W,J O I $1 , 1 8 1 SIM4 110.012 110.214 QJ I 4 S 3 RE 8 I D E H T W . (4 . 3 0 1 • 4.1 0 0 SF ) so so 11 . 1 7 2 Sl. 3 3 l 11 . 1 0 2 11 , 1 7 3 11 . 1 4 1 $1.023 11.20:1 $1,387 CI . A $ S 4 RE ! I I D e N T W . (3 . 1 1 0 1 - 4.3 0 0 SF ) so so S7 . k 7 11 . 1 0 6 11 . 2 1 1 1 SI , 4 3 S $1 . 1 1 0 2 $1,774 11,8$0 st,IZII CI. A S S S RE S I D E H T W . ( S , 7 D 1 - U O O S f ) so 17 . 2 4 7 $7 . 3 8 2 S7 . S 4 0 $7 •• 1 $7 , 1 4 4 $1 , 0 1 1 1 $1,111 11.325 $1,481 CI. A S S 8 RE 8 I D E H T W . (3 , 4 0 1 - 3.7 0 0 SF ) so $7 , 1 2 1 $7 . 2 8 3 S 7 . - 17 M 7 17 . 7 0 1 17 . 1 1 a S1.01t $1,110 11.343 CI . A $ S 7 RE 8 I D E H T W . (2 , 1 0 1 · S, 4 0 0 S F ) so 18 , 7 7 4 18 . 1 0 1 $7 , 0 4 7 17 . 1 $ 1 $7 , 3 3 2 S7 . 4 7 S $7.1121 17,7111 $7,137 CI . A S S I RE 8 I D E H T W . , . . 2. 8 0 0 SF ) so 18 . s o o $1 , 4 2 7 18 , 5 $ $ 18 . 1 8 1 18 . 1 2 0 18 . t S I 17.ots S7,2Si $7,382 l/1 . MA X J M U M sp E C I A L TA X E S UN D E V I ! I . . O P B I PR O P E R T Y S1 2 1 S . e t 9 $1 . 2 0 9 . 8 7 5 SI. 0 0 1 , 0 6 C I 17 2 1 , 1 1 0 3 SS I S . O S S (S O ) (S O ) (10) (SO) (SO) 11 0 N - 1 1 1 ! 8 1 D E H T P R O P B I T Y so so so so so so so so so so ~P R O I ' I ! R T Y C\ A $ 8 1 CU S T O M HO M E S so so so so so $2 3 0 . 2 3 4 12 3 4 . 8 3 1 S2 S 9 . 5 3 8 1244.3215 Wl.213 CI. A S S 2 RE S i l l E N T I A I . ( > 4 . 1 0 0 S F ) so so 11 7 . 1 0 5 141 1 , 1 1 1 1 1 $7 4 , 5 1 5 11 0 4 . 5 0 7 11 0 8 , 5 9 8 11 0 1 , 7 2 8 $110,90& $113.122 CI A S S 3 RE S i l l E N T I A I . ( 4 . : 1 0 1 - 4 , 8 0 0 S F ) so so $4 9 . 1 1 3 4 1 1 0 1 ; - 11 7 1 . 5 5 2 12 1 0 . 1 7 & 12 6 5 . 3 7 9 S2 7 D . u 7 $278,100 $211.123 CI A S S 4 RE 8 1 D E H T W . ( S . I I 0 1 · 4 , : 1 0 0 S f ) 110 so Sl U M S4 0 . S S O 18 1 . 1 4 5 11 0 1 . 2 0 2 11 0 3 . 2 2 8 $1 0 6 . 2 8 0 1107.ste 1101,644 CI A S S S RE 8 1 D E H T W . ( S . 7 0 1 · 3,S I O O S F ) so 12 1 . 7 4 1 15 9 . 1 3 5 11 1 3 , 0 1 1 11 7 1 1 . 1 1 3 $2 1 1 , 7 1 1 12 1 8 . - 12 2 0 . 3 5 5 S224.7&l $221.257 ClA S S I RE B I D I ! N T W . (S . 4 0 1 · 3.7 0 0 SF ) so $2 1 , 4 « 1 SS I . 1 0 1 $1 1 , 3 1 0 $1 3 8 . 0 1 1 $1 5 4 , 1 5 5 11 5 7 . 2 3 8 11 8 0 . 3 8 3 1183.591 11 ... - CI A S S 7 RE B I D I ! N T W . (2 . 1 0 1 • 3.4 0 0 SF ) so 12 0 , 3 2 1 S8 2 . 1 8 3 $1 1 2 . 7 5 8 11 7 2 . 5 2 0 12 1 t . t l l l 3 12 2 4 . 3 8 3 12 2 8 . - 1233.427 1211.095 OJ CI A 8 8 1 RE S I D E H T W . ( . . 2. 8 0 0 S F ) so 11 2 . 8 0 1 12 5 . 7 0 1 SS I . 3 3 0 18 0 , 1 7 5 . . . 18 9 18 1 . ! & 3 S7 0 , t 5 4 172.373 173.120 - - - - - - - - - - - - - - - - - - I TO T A L IW C I I I I U I I tf ' E Q A L T - 11 . 2 1 1 , 1 1 1 ~ 11 , 2 1 1 , 0 2 1 S1 . 2 n . G 2 1 S1 - Z 7 7 , U 1 S1 . 3 S V . U S S1 . $ S O . Z M s1 , m . z n 11 , 4 0 4 , 7 M 11A3U11 S1,4e1.u7 w W DE B T SE ! M C E CQ I I E B A G E GR O S S DE B T II S M C E C, O I I S W I I i , _ 1S T BO N D N# I J 7D UN I T S " NA NA NA 11 0 . 1 1 n ' 1 1 ~ 1 1 4 - - 111 . 8 1 ~ 11 1 . 1 4 . 123~ 123~ GR O S S DE B T II S M C E CO ' o i E R I I G E • NA NA NA NA NA NA NA 11 0 . 0 S . 112.n. 114~ NE T DE B T SE R \ I I C E CO V E R A G E - NA NA NA NA NA NA NA 1 1 1 . - 115.~ 117.1W • IJ A J f l J I I . N S I ' f r l A L rA m J Z Q S O D A D A I J N 1 n 7 U I J O N . a i 1 D I ! Z ) 8 T G I U D DQ T . J 6 X I ' J Q " -A U l D r l t M . v s : : u t . TA t D Ui: J S C 7 D A l l t 4 J G n t A 1 1 0 N I " L U S ~ 1 i ~ Dl f W f D I / 1 UII C . C E S D i i l i T .IE J D 1 a " CU S O CF O No . 20 0 $ - 1 (W h i s p e r i n g Hi l s ) : 54 011 1 1 1 - Un a u d l 1 e d Page4 FII C A I . YE A R - ~ O F TA X E I 20 1 1 - U 20 Z 2 - l i l - 21 1 - . z l - ~ 21 J Z 7 - D - . a --.J1 CA L E N I I A R YE A R - P A , _ - . TO BO N D H0 1 . D E R 8 20 Z 2 2IJ 2 : I - - - 2IJ Z 7 211 2 1 --2IJJ1 I CF D BQ N D E D IN D E B T E D N E S S cu s o OT H E R FA C I 1 . I T I E l l so so so so so so so so so so IN C R E M E N T A L "" Y M E H T OF PIJ R C t 1 A & E PR I C E RE : &H H S I S I T E so so so so so so so so so so CIT Y OF SA N JU A N CA P I S T R A N o PU I I U C FN ; I U T ! E S & fe E S so so so so so so so so so so OT H E R CIT Y FA C I U T I E S so so so so _ _ _ so _ _ so_ so so so so TO T A L RN N « : E D PU i l l J C FA C I L I T I E S so so so so so so so so so so TO T A L 80 1 1 D E D IN D E B T l ! D N E S S so so so so so so so so so so D AIS Q R P T I O N • BU D . D J M G !E B M I D Ia Rl l l l l • ~ P N J I I E R l Y R& I W N I H G IM D E I I I ! L O P E D AC I I E A G E (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) --- P R O P E R T Y CU I U . A T I V E ~ A C R & . A G E 0. 0 0.0 0.0 0. 0 0. 0 0. 0 0. 0 0.0 0.0 0.0 DE V E I . O I ' I D ltE S I I I E H I W . . PR O P E R T Y CL A S S I CU S T O M HO M E S 15 15 IS IS IS 15 15 15 15 IS CL A S $ 2 RE 8 I D E N T W . (> · - S F ) , , , , , , , , , , CL A S $ 3 IIE S D E H T W . f 4 , 3 0 1 -4,8 0 0 SF ) 30 30 30 30 30 30 30 30 30 30 CL A S S 4 ~P . S O I - 4 . 3 0 0 S F ) 12 12 12 12 12 12 12 12 12 12 CL A S S 5 RE I I I I l E H T W . (3 . 7 0 1 -u o o SF ) 27 27 2T 2T 2T 2T 2T 2T 2T 2T CL A S $ 8 RE S I D E N t W . (3 , 4 0 1 - 3,7 0 0 SF ) 20 20 20 20 20 20 20 20 20 2IJ CL A S $ 7 RE I I I I l E H T W . (2 . 1 0 1 -3,4 0 0 SF ) 30 30 :Il l 30 30 30 30 so so 30 CL A S S I RE I I I I l E H T W . , . . 2, 8 0 0 SF ) _ _ .!. ! ! _ _ _.! . ! ! --- · ~ _ _ _ l_o _ _ _ ,_ o _ _ _ l_o _ _ _ l_o _ _ _ l_o ___ l_o ___ l_o CI. J I I I l A T I V E Rfi i i D E N T W . UN I T S IS S IS S IS S 15 5 11 1 5 IS S IS S 155 155 ISS ~c - . . .. . . . . . .. . , . . . , . .. . . . . . . . . . . . . . . . . . . . . . . ,. . . . . OJ I ~ Il l M!U . Q . R Q Q S SP E C I A L TA X J l $ +:: - UN D E V £ l . O I I E O PR O P E R l Y IP E C W . TA X E S so so so so so so so so so so ~P R O P E R l Y I I P E C I A I . TA l C E S so so so so so so so so so so II U I D I N 1 U I L P I I O P E R T Y I P E C W . TA X E S CL A S S I CU S T l l l l HC I I I ! 8 12 5 4 . 1 1 1 $2 ! 8 . 2 1 1 S2 6 1 . 4 1 7 S2 8 1 1 . 7 s e 12 7 $ , 1 5 1 S2 1 0 , 8 5 4 S2 8 1 1 . 2 1 7 12 8 1 , 1 1 3 1217.833 $303,1811 CL A S S 2 RE S I D E H T W . (> 4,1 1 0 0 SF ) 11 1 5 . 3 1 5 11 1 7 . 8 1 2 11 2 0 , 0 4 1 S1 U , 4 4 7 lt : M . n s $1 2 7 , 3 8 4 11 2 1 . 1 4 2 $1 3 2 , $ 4 1 $1315,181 $137.115 CL A S S : ! RE S I D E H T W . I 4 . 3 0 1 - 4,1 1 0 0 SF ) S2 1 1 7 , 2 S S S2 I 3 . 0 0 0 $2 1 1 , 1 1 0 -. 8 3 7 13 1 0 . 8 3 4 13 1 7 . 1 1 3 13 2 3 , 4 1 1 13 2 1 . 1 1 1 -.ses 1343.2111 CL A S S 4 RE S I D E H T W . (3 , 1 0 1 - 4,: 1 0 0 SF ) 11 1 1 , 7 3 1 5 11 1 3 . 1 1 8 $1 1 8 . 2 4 1 $1 1 1 . 5 7 4 St 2 0 , . . S S12 3 . : 1 1 1 C 11 2 U 3 1 11 2 1 . 3 4 1 SISO.I15 1133.533 CI A S S S RP I D I ! N T l A I . 13 . 7 0 1 - :s. s o o SF ) 12 3 3 . 1 4 2 12 3 1 1 , 1 1 1 12 4 3 . 2 1 1 S2 4 1 , 1 S S 12 5 3 , 1 1 1 SZ 5 1 , 1 8 1 12 1 & 3 , 3 4 4 12 1 1 . 1 1 1 1 1273.113 1271.4113 CL A S S II RE I I I I l E H T W . (3 . 4 1 1 1 - 3,7 0 0 SF ) $1 7 0 , 2 0 0 $1 7 3 , 1 1 0 4 11 7 7 , 0 7 & Si l O . & II 11 1 1 4 , 2 3 0 11 1 7 , 1 1 5 11 1 1 . 1 7 3 11 1 5 . 5 1 1 6 111151,411 -·- CL A S S 7 RE I I I D E H I W . (2 . 1 0 1 - 3.4 0 0 SF ) 12 4 2 . 1 6 7 12 4 7 . 7 1 5 12 5 2 , 1 1 1 12 5 7 . 7 2 2 S2 & 2 , 1 7 1 S3 1 8 , 1 3 4 SZ 1 3 . 4 I 1 12 7 1 . 1 1 7 1284,1148 121111.237 CL A S S I RE S I D I ! N T W . (< - 2, 8 0 0 SF ) 17 5 . 2 1 7 17 1 . 1 1 1 3 17 1 . 3 3 1 1 S7 1 , t 0 5 II I , I M M 11 3 , 1 3 4 11 4 . 7 1 1 11 1 . 4 1 2 111.222 llt.N7 -- . - - TO T A I . I P E C W . TA X E S SIA 1 0 , 7 M 11 , 1 2 0 , 5 1 3 SI , I I O , t t s 11 , 8 1 2 , 0 1 8 S1 , 5 1 J , U I 11 , 1 1 4 8 . ! 1 2 . 1 $1 , 1 7 1 , 1 1 4 7 S1 , 7 1 t . G I 11,1..,m 11,711,101 1\1 , $P E C ! A l TM Rg Q U ! R g M E M T NE W BO N D E D IN C E B l ' I ! D N I ! 8 8 so so so so so so so so so so - - f U N D so so so so so so so so so so AN N I W . D E B T S E I M C & - & E R I E S A $4 4 Q . I 1 1 14 4 1 . 1 3 5 14 5 1 . 1 2 7 ... , , 1 1 0 0 U7 7 , 1 5 8 -. - -. - 15 0 1 . 3 1 1 2 15111,418 1528.111 AN N U I I L D E B T S E I M C & - B B I I E S B 17 1 1 . 0 0 0 11 8 5 . 0 7 0 S8 0 0 . 7 1 1 18 1 8 , 7 1 8 S8 3 3 . 1 U 11 1 4 8 , 1 8 5 $8 8 8 , 7 1 0 18 1 1 4 . 1 1 8 SI01.l'N 1818.134 - - - AN N U I I L G R O S S D E B T I I E R I I I C E 11 . 2 3 1 1 . 1 1 1 11 . 2 3 4 . 7 0 4 $1 . 2 5 9 . 3 9 8 11 . 2 1 4 . 5 1 8 11 , 3 1 0 . 2 7 8 11 . 3 3 1 1 . - $1 . 3 1 3 . 2 1 3 11 , 3 1 0 , 4 7 8 $1.411.217 11 ..... 853 CF D AD M I N I S T R A T I O N 15 1 , 1 8 5 18 0 , 1 5 0 111 2 , 1 1 1 1 S6 3 . 4 1 2 11 4 , 8 1 0 1& 5 , 1 7 4 11 7 . 2 1 3 -110.012 $71,412 RE I I E R I I E fU N D NI 9 E S T 1W DE I . J H Q U E N C Y ) (1 3 8 , 0 0 2 ) (1 3 8 , 0 0 2 ) (1 3 8 , 0 0 2 ) (1 3 8 , 0 0 2 ) ($ 3 & , 0 1 1 2 ) ($ 3 6 . 0 1 1 2 ) (1 3 8 . 0 0 2 1 (1 3 1 1 , 0 1 1 2 ) (138.002) (138.002) CN ' I T A I J Z E D IN T E I I E S T so so so so so so so so so so PA Y - Y O U G O FU N D S (I N C A E I I & H T A L PA Y I I E N T O F PU R C H A S E PR l C I ! RE : SH H S I B I ' I I ! ) so so so so so so so so so so PA Y - Y O U G O FU N D a (t: I 1 ' Y OF SA N .A . W 1 CA P I S T R A N O PU a . l C I'A C i l . I T 1 E S AN D FE E I I ) so so so so so so so so so so PA Y - M - Y O U G O FU N D S (t : I 1 ' Y OF SA N .A . W 1 CA P I S T R A N O OT H E R CI T Y FA C I I J T I E S ) so so so so so so so so so so -P A Y - M - Y O O . O O FU N D S T O C U S O ~ ~ ~ ~ w• • 12 1 8 . • n $2 1 1 4 , 3 4 2 ~ 12!14,375 121t.M2 NE T AN N U A l . DE B T I I I ! I M I : e $1 A I 0 , 1 1 1 11 , 1 2 0 , 5 1 3 SI , J I G , t i S $1 , 8 1 2 , 0 1 8 I1 , 5 1 J . I M S1 , 1 1 4 5 , 1 2 e . , ,1 7 1 , 1 1 4 7 $1 , 7 1 t . G I 11,7-.m ., . .,.,.. CI J M I A . . ' T I V E BO N O PR O C I ! I ! ) S I P A Y . . t . S . Y W O O FO R 11 . 0 0 0 , 0 0 0 11 , 0 0 0 . 0 0 0 11 1 . 0 0 0 , 0 0 0 16 , 0 0 0 , 0 0 0 16 , 0 0 0 , 0 0 0 11 1 , 0 0 0 , 0 0 0 11 1 . 0 0 0 . 0 0 0 11 , 0 0 0 , 0 0 0 111,000.000 111,000.000 IN C I I E i o e i T A L PA V I I E N T OF P\I R C H A S e Pll t C E RE : SJ I 1 h 1 S I S I T E -- S U R I ' I . I J S I I O E F so so so so so so so so so so CU I M A T I I I E IIU I I P U J S I I D 8 ' 1 1 T ) so so so so so $0 so so so so -I, U ' T S . U C I 1 a " I C i f t l l i C . . U . . u . s u . t & 3 1 4 M D f IA . \ O l E I " 7 J N I I I J t IM J N n i * A T A I I i l i n -· CU S O CF D No . 20 0 S . 1 (W I I I s p e r t n g Hil s ) : 54 Dn l f t - Un a u c f l l e d PageS fi i C I I L VI! A R • co u . E t : l i O ! I OF TA X I ! & ZG Z 1 - Z 2 20 U - U - - - 10 Z I I - Z 7 ZII Z I ' - 2 1 1 --mm-11 CA l B G I A R VI! A R • I'A Y I I I ! N T S '1 0 11 0 N D 1t 0 U 1 E R 8 211 2 2 211 2 2 20 M - me ZII Z 7 - --IDJ1 V. AV E B A G J : AN N U A L SP E C J A L TA J ! UN I I e V I ! L I I I ' E D PII O P E R T Y , PE R AC R 1 ! s.o s.o s.o s.o s.o s.o s.o $.0 $.0 $.0 -. - e m A L I ' R i l P e t T Y , PE R A a l £ so so so so so so so so so so RE S I I J E H T W . PII O P E R T Y , PE R UN I T CU I S S 1 CU S T O M HO i o 1 E S 11 6 , 1 4 8 11 7 . . 2 8 5 11 7 . 6 3 1 11 7 . 8 8 4 $1 8 . 3 4 3 $1 8 , 7 1 0 11 1 . 0 1 1 4 S 1 1 - $11.856 $21).2$3 CU I S S 2 RE S 1 D E N T W . (> 4.1 1 0 0 SF ) $1 0 , 4 8 0 I1 0 , U 8 $1 0 . 1 1 3 $1 1 . 1 3 2 s n ~ $1 1 . 5 1 1 1 $1 1 . 8 1 3 11 2 . 0 4 8 $12.290 112.538 CU I S S 3 RE S 1 D E N T W . ( 4 , J 0 1 - 4, 1 0 0 SF ) SI . 5 7 S $8 , 7 6 7 $8 . 8 1 1 2 $1 0 . 1 8 1 $1 0 . 3 & 1 $1 0 , 5 7 2 $1 0 . 7 8 : 1 S1 0 , M S11,211 111,443 CU I S S 4 A! S I D E N T I I O l ( U 0 1 • 4. 3 0 0 SF ) ft , 3 1 1 $8 , 4 8 7 $8 , 6 1 7 .. . 611 1 $1 0 . 0 7 8 11 0 . 2 8 0 $1 0 , 4 8 8 11 0 . - e $10,110 111,1211 CU I S S S RE S 1 D E N T W . (3 . 7 0 1 - 3. 1 0 0 SF ) $8 , 1 1 1 1 $8 , 1 3 4 $8 , 0 1 1 $8 , 1 1 1 $8 . 3 7 5 ft , $ 8 2 $1 , 7 5 3 SI.INI 110,148 110,3110 CU I S S f RE S 1 D E N T W . (3 , 4 0 1 • 3. 7 0 0 SF ) $8 . 8 1 0 $8 , 1 1 8 0 $8 . 8 5 4 $8 , 0 3 1 $8 . 2 1 1 lU t e SI, I M W $8,775 ft,l71 110,110 CI. A S 8 7 AE 8 I D E N T W . (2 . 1 0 1 · 3,4 0 0 SF ) $8 , 0 1 5 18 . 2 ! 1 7 18 , 4 2 2 S8 . M 1 $8 , 7 8 : 1 $8 , 1 3 8 $0 , 1 1 7 se.m ··-$11,675 ClA S S I RE S I D E H T W . ( c - 2.1 0 0 SF ) 17 , 5 3 0 17 , e 8 0 $7 , 1 3 4 $7 , 1 1 1 $8 , 1 5 0 $8 , 3 1 3 S8 , 4 f 0 $8,1141 $8,122 ..... Il l . MA J ( ! M U M !5 P E Q A L TA X E S UN D E V a . O P I ! D PII O P E i t T Y (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (SO) (SO) (SO) ~ P R O P E R l Y so so so so so so so so so so N!li C O E N T 1 A L PI I O P E R T Y a. A S $ 1 CU S T O U H O U E S 12 5 4 , 1 1 7 $2 5 1 1 . 2 1 1 Ql 4 , 4 6 7 12 & 9 , 7 5 6 $2 7 5 , 1 5 1 S2 1 1 0 , f 5 4 s: ! I S . 2 1 1 7 $2 8 1 , 1 1 3 S217,633 S303.719 a. A S $ 2 fiE S 1 D e i T W . (> 4.1 1 0 0 SF ) S1 1 5 , 3 a 11 1 7 . 8 1 1 2 $1 2 0 , 0 4 6 S1 Z Z . 4 4 7 11 2 4 , 1 1 1 1 1 11 2 7 . 3 1 1 4 $1 2 1 . 1 4 2 $1 3 2 . 5 4 1 $1~.1&1 S137,fl8 a. A S $ 3 II E S 1 D e i T W . ( 4 . J 0 1 -~.1 0 0 SF ) 12 8 7 . 2 5 1 1 $2 1 3 . 0 0 0 --- . - •• 37 S3 1 0 , 1 1 U $3 1 7 , 1 5 3 132 3 , ~ 1 1 6 $3 2 1 . - S$311.585 5343.2116 CV . S S 4 RE S I D E N T I A L (3 . 1 0 1 · 4,3 0 0 SF J 11 1 1 . ~ 11 1 3 , 1 1 6 1 11 1 8 . 2 4 1 $1 1 8 , 5 7 4 11 2 0 . 0 4 5 11 2 3 . 3 1 1 4 $1 2 $ . 1 1 3 1 $1 2 1 1 . 3 4 8 $130,816 S133,A3 a. A S $ 5 fiE S 1 D e i T W . (3 . 7 0 1 • 3.1 0 0 SF ) 1I2 3 3 . M 2 $2 3 8 , 1 1 1 $2 4 3 . 2 1 1 $2 4 8 , 1 5 5 S2 S 3 , 1 1 8 $2 5 1 1 . 1 1 1 $2 1 1 3 . 3 4 4 sa s . e 1 1 S273.1113 $278,4$3 a. A S S I RE S 1 D E N T W . (3 , 4 0 1 -3,7 0 0 SF ) $1 7 0 . 2 0 0 11 7 3 , 1 1 0 4 $1 7 7 , 1 1 7 & S1 f 0 , 1 1 1 1 $1 1 4 . 2 3 0 11 1 7 . 8 1 5 11 1 1 . f 7 3 11 1 5 . 5 0 1 1111,416 1203.4011 a. A S $ 7 RE S I D E N T I A L (2 . 1 0 1 · 3.4 0 0 SF ) 12 4 2 . 8 5 7 $2 4 7 , 7 1 5 $2 5 2 , 1 6 9 $2 5 7 , 7 2 2 S2l l 2 . 8 7 7 $2 6 1 . 1 3 4 $2 7 3 , 4 1 7 S2 7 8 . 8 1 7 $214.541 $210.237 a. A S S I RE S 1 D E N T 1 A L ,_ 2. 1 0 0 SF ) S7 S , 2 9 7 S7 U 0 3 17 1 , 3 3 1 1 17 1 , 1 0 5 51 1 1 . 1 1 0 4 11 3 , 1 3 4 11 4 . 7 1 8 .. . . ~112 $81.222 .... 1187 O:J - - - - - - - - - - - - - - - - - - - - - - - - ------ 1 '1 0 7 A L - l i P & a A L TA X I ! B S1 M O , T i f 11 , 5 2 0 . S I 3 11 . 1 5 0 . 8 1 5 11 , 5 1 2 , 0 1 8 11 . 8 1 J , . . 11 . 1 4 S . 1 1 2 1 I1 , 1 T 1 , 1 4 T 11 . n z . a t 11,741.112 11.7111,1111 ~ VI \IJ I D£ 8 J SE B \ I J C E CO \ I E B A G E GR O I S DE B 1 ' II B M C I ! CO I I B W I E FR O M 1S T II O N D AN D 70 UM T S ' 12 3 2 2 % 12 3 2 2 % 12 3 2 2 % 12 3 2 2 % 12 3 2 2 % 12 3 ~ 12 3 ~ 12 3 2 2 % 1~ 1~ GR O S $ DE B 1 ' SS M C E C C M ! R A G E • 11 5 . ~ 11 1 2 2 % 11 8 2 2 % 11 8 2 2 % 11 8 ~ 11 1 ~ 11 1 ~ 11 1 2 2 % 11122% 11822% NE T DE I I T S S M C E CC M ! R A G E - 11 1 . 8 1 % 12 1 . 1 3 % 12 1 . 0 1 % 12 1 . 0 2 % 1 2 0 . - 12 0 . 1 1 % 12 0 . 1 1 1 1 % 12 0 . 8 1 % 120.76% 120.71% • J.c 4 . W . I f M . v m : u t TA l E S LE S : S O D A D U I J I I I 1 M I I O N _ 0M D £ 1 ) . , GII O I 1 DD r l i X I l C ' £ - .w . . t m n . . a l l P ' E D A I . TA I D U: S S O V A D i o C D I I S J M I ' I O . V N . I S lt f : I a ' l ! " £ l ' t ' . r i . V G i t . UI U l W I I I Q r . 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CO I I E I W I E - 12 1 1 1 ~ 1Z D . 1 1 M 12 0 . 1 4 , . 18 7 . 1 1 f t 18 7 . 8 1 , . 18 7 . ~ NA • MA . W A I I S I " a l 4 T. U U Lm QD A D M I I I S T M 7 I O N . Dn ' D ' X D . , G I I D D DO T S D J 1 1 " 2 ' .. NA J I D i f M J ' I " & : ! A t T.. U U US S C I ' D A O W P U l ' J I I . 4 T P O t i i ' U J I ~1 \ A I W I N G t on m m a r r . w m /1 1 l 1 1 T M J n 7 a ' EXHIBITC DESCRIPTION OF CITY FACILITIES The following improvements are eligible City Facilities: CITY FEE FACILITIES Traffic Mitigation Fee (CCFP) Park Fee San Juan AG Preserve Fee San Juan Water Capacity Fee San Juan Water Meter San Juan Water Capital Improvement Charge San Juan Water Storage Fee San Juan Drainage Fee San Juan Fee Ordinance 211 San Juan Ordinance 364 San Juan Sanitation District (Sewer) Fee SUBTOTAL CITY ACQUISmON FACILITIES (Detailed description attached) Vista Montana Improvements Sewer Water Reclaimed Water Storm Drain SUBTOTAL ADDITIONAL CITY FACILITIES'> GRAND TOTAL PAID TO DATE 7,387 1,798,000 500 578,232 31,000 311,240 217,000 862.41 115 3,522 4301.46 2,952,160 COMPLETED PRIOR TO 1/1/09 2,328,431 263,120 743,475 272,276 2,031,054 5,638,356 8,590,516 TO BE PAID 1,137,598 77,000 132,811 17,710 646,478 662,425 2,674,022 TOBE COMPLETD 2009-2015 2,000,000 1,200,000 400,000 3,600,000 8,057,767 TOTAL 1,144,985 1,798,000 77,500 578,232 31,000 311,240 217,000 133,674 17,825 650,000 666,726 5,626,182 TOTAL 2,328,431 2,263,120 1,943,75 672,276 2,031,054 9,238,356 1,783,745 16,648,282 I> City to receive amount equal to 12% of all disbursements for City Facilities to be used for Additional Facilities. · C-1 EXIIIBITD DISBURSEMENT REQUEST FORM CITY OF SAN JUAN CAPISTRANO/CFD NO. 2005-l WHISPERING HILLS PLANNED COMMUNITY Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) '("CFD No. 2005-1") is hereby requested to pay from the City Facilities Account established by the Indenture described in the F/A Agreement among the Parties ("Indenture") of CFD No. 2005-1 in connection with its CFD No. 2005-1 First Series and Second Series Special Tax Bonds ("Bonds"), to the City of San Juan Capistrano ("City"), as Payee, the sum set forth below in payment of City Facilities described below. The undersigned certifies that the amount requested has been expended or encumbered for the purposes of constructing and completing City Facilities. The amount requested is due and payable under, or is encumbered for the purpose of funding, a purchase order, contract or other authorization with respect to the project costs described below and has not formed the basis of prior request or payment. The City agrees to trace and remit to CFD No. 2005-1 all earnings, if any, in excess of the yield on the Bonds accruing from the investment of the amounts requested herein, from the date of receipt by the City of such amounts to the date of expenditure of such amounts by payment thereof to a third party for the costs set forth below. Such remittance, if any, shall be made each year on the earlier of the expenditure ofsuch amounts or the anniversary date ofthe transfer of the requested amounts by CFD No. 2005-1 to the City. Description of corresponding City Facilities: Amount requested: $ ____ _ The amount of$ is authorized and payable pursuant to the terms of the First Amended and Restated Joint Community FaciJities Agreement among Capistrano Unified School District, Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills}, the City of San Juan Capistrano, Rancho San Juan Development LLC and Whispering Hills LLC, dated as of 1, 2011. Executed by an authorized representative ofthe City of San Juan Capistrano. By: Name: Title: Dated: Request No.: __________ _ Attest: D-1 EXHIBITD-1 FORM OF ACQUISITION FACILITY(IES) PAYMENT REQUEST The undersigned, hereby requests payment in the total amount of $ as the Acquisition Price of the Acquisition Facility(ies) (as defined in the First Amended and Restated Joint Community Facilities Agreement by and among Capistrano Unified School District Community Facilities District No. 2005-1 (Whispering Hills), City of San Juan Capistrano ("City"), Rancho San Juan Development LLC, and Whispering Hills, LLC dated as of ___ _ 1, 2011 C'FIA JCFA") more fully described in Attaclunent I hereto. In connection with this Payment Request, the undersigned hereby represents and warrants to the City as follows: 1. He( she) is a duly authorized officer of the undersigned, qualified to execute this Payment Request for payment on behalf of the undersigned and is knowledgeable as to the matters set forth herein. 2. All costs of the Acquisition Facility(ies) for which payment is requested hereby are actual costs and have not been inflated at any respect. The actual costs for which payment is requested have not been the subject of any prior disbursement request submitted to Community Facilities District No. 2000-1 of the Capistrano Unified School District (the "CFD"). 3. Supporting documentation (such as third party invoices, lien releases and cancelled checks or other evidence of payment) is attached with respect to each cost for which payment is requested. 4. The Acquisition Facility(ies) for which payment is requested was constructed in accordance with the requirements ofthe F/A JCFA. .,5. The undersigned is in compliimce with the term and provisions of the F/A JCFA and no portion of the amount being requested to be paid was previously paid. 6. The Acquisition Price for the Acquisition Facility(ies) has been calculated in. conformance with the tenns of the F/A JCFA. 7. Please authorize payment of the Acquisition Price by CFD No. 2005-1 to the following entity(ies), if other than the undersigned, in the amounts or percentages indicated: [Insert names of payees and amounts or percentages] D-1-1 I declare under penalty of perjury that the above representations and warranties are true and correct. Dated: Dated: RANCHO SAN JUAN DEVELOPMENT LLC By: Its: CITY OF SAN JUAN CAPISTRANO Payment Request Approved for Submission to CFD By: Its: D-1-2 ATTACHMENT 1 SUMMARY OF ACQUISITION FACILITY(IES) TO BE ACQillRED AS PART OF PAYMENT REQUEST Acquisition Facility(ies) Actual Costs Disbursement Requested [List here all Acquisition Facility(ies) which payment is requested, and attach support docwnentation] AGREEMENT REGARDING ACCESS EASEMENT THIS AGREEMENT REGARDING ACCESS EASEMENT (this "Agreement") is entered into as of , 2011, by and between RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("RSJ") and the CITY OF SAN JUAN CAPISTRANO, a general law city (the "City"). RSJ and the City are each sometimes referred to herein individually as a "Party," and, collectively, as the "Parties." The Parties are entering into this Agreement with reference to the following facts: A. RSJ is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "A" attached hereto and made a part hereof (the "RSJ Property"). B. The City is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "B" attached hereto and made a part hereof (the "City Property"), which is located adjacent to the RSJ Property. C. In connection with the City's contemplated use of the City Property, the City desires to obtain from RSJ a nonexclusive easement and right of way over the RSJ Property consisting of two access roads providing ingress and egress to the City Property, all pursuant to an Access Easement (the "Access Easement"), in the form attached hereto as Exhibit "C" and made a part hereof. D. The Parties desire to enter into this Agreement simultaneous with that certain First Amended and Restated Joint Community Faciiities Agreement among Capistrano Unified School District (the "School District"), Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills) (the "CFD"), the City, RSJ, and Whispering Hills, LLC (the "A&R JCF A"), which provides a means of financing through the CFD certain development fee reimbursements and public improvements needed to serve certain real property, including the RSJ Property. E. The Parties intend to enter into this Agreement to provide for the granting of the Access Easement and the construction by RSJ of the access road within the area crosshatched on Exhibit "C" attached to the Access Easement (the "Easement Area") pursuant to specifications described in· Exhibit "D" attached hereto and made a part hereof (the "Access Road Specifications") upon the City's receipt of all necessary regulatory approvals and permits for such construction. NOW, THEREFORE, in consideration of the above Recitals and the conditions, covenants and other provisions set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each of the Parties, the Parties hereto hereby agree as follows: 5/26/11 9130.2 #96779 v7 EXHIBIT 8 1. Access Easement. Upon completion of the Access Road described in Section 2 below, RSJ and the City hereby agree to immediately execute and deliver the Access Easement and cause it to be recorded in the Official Records of the County of Orange. RSJ and the City acknowledge that the Access Easement provides for, among other things, (i) the grant of a nonexclusive easement and right of way over two access roads located in approximately the Easement Area hatched and crosshatched on Exhibit "C" to the Access Agreement, each not less than twenty-two (22) feet in width, each providing ingress and egress to the City Property, and each access being across, through and over the RSJ Property, (ii) that the easement shall be used for vehicular (including, without limitation, delivery trucks and such other trucks as are required for the construction and maintenance of the roadway and all other vehicles involved in permitted uses described in the Access Easement) and pedestrian access, ingress to and egress from the City Property over and across the Easement Area, as well as for purposes of repairing, replacing and maintaining the roadways and other associated improvements, (iii) that the easement shall be limited to purposes reasonably relating to the open space uses of the City Property and as otherwise permitted by or described in this Agreement and the Access Easement (including, without limitation, as set forth in provision (iii) above), [IS THIS CORRECT (E.G. IS THIS BROAD ENOUGH? ANY 'MODIFICATIONS SHOULD ALSO BE REFLECTED IN THE ACCESS EASEMENT) (iv) that RSJ's predecessor in interest previously granted to the Capistrano Unified School District (the "School District") a nonexclusive easement within the portion of the Easement Area from La Pata Avenue to the San Juan Hills High School Property for purposes of ingress and egress, and (v) that use of the Easement Area by the City shall not unreasonably interfere with or impede the use of the portion of the Easement Area by the School District. 2. Construction of Access Road. Provided the City obtains the necessary governmental permits and authorizations contemplated herein, RSJ agrees to grade and construct, at its sole cost and expense, the access road within the crosshatched portion of the Easement Area depicted on Exhibit "C" pursuant to and in accordance with the Access Road Specifications. RSJ shall use good faith efforts to commence the grading and construction of the access road within thirty (30) days of City's written request, which request shall include reasonably satisfactory evidence that the City has obtained the necessary governmental permits and authorizations. Upon commencement, RSJ shall thereafter prosecute such grading and construction to completion and shall use good faith efforts to substantially complete the same within sixty (60) days of commencement. 3. Government Regulations. The City agrees, in connection with RSJ' s grading and construction activities contemplated herein, to obtain, at its sole cost and expense, all governmental permits and authorizations of whatever nature required by any and all applicable governmental or quasi-governmental agencies or authorities in order to conduct and complete such activities. 4. Maintenance and Condition of Easement Area. Upon completion of the Access Road, the City will be responsible for any damage done to the Easement Area during the term of the Access Easement by the City and/or its contractors, subcontractors, employees, lessees, licensees, invitees, permittees, successors and assigns, or any other persons directly or indirectly employed by any one of the foregoing or reasonably under the 5/26111 9130.2 #96779 v7 2 control of any of the foregoing or for whose acts any of the foregoing may be liable. In addition, the City shall be obligated to maintain the Easement Area and all improvements, installations and facilities installed thereon (including any landscaping) in good and safe order, condition and repair, including, without limitation, maintenance as may be required by any applicable governmental or quasi-governmental agency or authority. Following completion of the Access Road, RSJ shall not be required to make any alterations or repairs to the Easement Area or otherwise maintain the Easement Area except as a result of RSJ' s negligence or willful misconduct. 5. Further Assurances. Each Party shall execute and deliver such further instruments and shall take such other action as the other Party may reasonably request from time to time in order to carry out the intent of this Agreement. 6. Entire Agreement; Amendments. This Agreement and the Access Easement contain the entire agreement of the parties hereto relating to the subject matter hereof. Any amendment or supplement to, or waiver of, any provision of this Agreement must be in writing and signed by the Party whose obligations are purported to be affected thereby. 7. Binding Effect. This Agreement shall be binding on and shall inure to the benefit of the successors, and assigns ofRSJ and the City. 8. Attorneys' Fees. If any legal action or proceeding arising out of or relating to this Agreement is brought by either Party, the prevailing Party shall be entitled to receive from the other Party, in addition to any other relief that may be granted, the reasonable attorneys' fees, costs, and expenses incurred in the action or proceeding by the prevailing party. 9. Notices. All notices, demands, requests, solicitations of consent or approval, and other communications hereunder required or permitted shall be in writing and shall be deemed to have been given (i) when personally delivered or telecopied, (ii) one (1) business day after the date when deposited with an overnight courier or (iii) three (3) business days after the date when deposited in the United States mail and sent postage prepaid by registered or certified mail, return receipt requested, addressed as follows: 5126111 9130.2 #96779 v7 Ifto RSJ: Rancho San Juan Development LLC c/o Woodbridge Homes 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager Telephone No.: 949/493-1171 Facsimile No.: 949/661-5451 E-mail: tcunningham(a)\voodbridgehomes.cofll 3 with a copy to: lfto City: with a copy to: IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Telephone: 949/655-7605 Email: ------- City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager/City Clerk Attention: -------------------- Telephone No.: ------------------ Facsimile No.: E-mail: --------------------- One Party may change its address for notice purposes under this Agreement by giving the other party written notice of such change in the manner prescribed above. 10. Counterparts. This Agreement may be signed in multiple counterparts which, when signed by all Parties, shall constitute a binding agreement. 5126111 9130.2 #96779 v7 [Signature Page Follows} 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. "City" CITY OF SAN .JUAN CAPISTRANO By: Name: City Manager APPROVED AS TO FORM: By: City Attorney 5/26/11 9130.2 #96779 v7 5 "RSJ" RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ____________________ __ Todd Cunningham, Manager 5/26/11 9130.2 #96779v7 EXHIBIT A RSJ PROPERTY [INSERT LEGAL DESCRIPTION] A-1 5/26111 9130.2 #96779 v7 EXHIBIT B CITY PROPERTY [INSERT LEGAL DESCRIPTION) B-1 See Attached. 5/26/Jl 9130.2 .#96779 v7 EXHIBITC ACCESS EASEMENT C-1 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Clerk/City Manager Space Above This Line For Recorder's Use Only ACCESS EASEMENT THIS ACCESS EASEMENT (this "Agreement") is entered into as of , 20 II, by and between RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("Grantor") and the CITY OF SAN JUAN CAPISTRANO, a general law city ("Grantee"). A. Grantor is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "A" attached hereto and made a part hereof (the "Grantor Parcel"). B. Grantee is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "B" attached hereto and made a part hereof(the "Grantee Parcel"). C. Grantee desires a nonexclusive access easement and rights of way for vehicles and pedestrians across, through and over the Grantor Parcel by way of two access roads for ingress and egress to and from the Grantee Parcel, together with rights for the purposes associated with the on-going maintenance of the rights of way. Grantor has agreed to grant Grantee such easement and rights of way on the terms and conditions contained in this Agreement. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties, the parties hereto hereby agree as follows: 1. Grant and Description of Easement. 1.1 Grant. Grantor hereby establishes and grants to Grantee, for the benefit of Grantee and its contractors, subcontractors, employees, lessees, licensees, invitees (including the public), permittees, successors and assigns (collectively "Grantee Parties"), a nonexclusive easement and right of way over two access roads consisting of two access roads each not less than twenty-two (22) feet in width and each providing ingress and egress to the Grantee Parcel. Each access road shall be across, through and over the Grantor Parcel and shall be located within the area described in Exhibit "C" attached hereto and depicted as the areas hatched and crosshatched on Exhibit "D" attached hereto and made a part hereof (the "Easement Area"). The portion of this easement and right of way attributable thereto shall be located upon and within the area comprising the actual access roads. The portion of the Easement Area running north-south shall be fenced on its eastern boundary as necessary to prevent access from the Easement Area to the Grantee Parcel. Grantee agrees to comply with all governmental laws, statutes and regulations in connection with the maintenance of the roadway to be constructed by Grantor in the Easement Area. 5/25/11 9130.2 #96659 v8 1.2 Uses. The easement and rights of way granted in this Agreement are nonexclusive easement and rights of way for vehicular (including, without limitation, delivery trucks and such other trucks as are required for the construction and maintenance of the roadway and all other vehicles involved in permitted uses described below) and pedestrian access, ingress to and egress from the Grantee Parcel over and across the Easement Area, as well as for purposes of repairing, replacing and maintaining the roadways and any other associated improvements. The use of such roadways by Grantee shall be limited to purposes reasonably relating to the open space uses of the Grantee Parcel and as otherwise permitted by or described in this Agreement. Grantee acknowledges Grantor's predecessor in interest previously granted to the Capistrano Unified School District (the "School District") a nonexclusive easement within the portion of the Easement Area from La Pata Avenue to the San Juan Hills High School property for purposes of ingress and egress as further described in that certain Access Easement recorded April 30, 2003, as Instrument No. 2003000487414 of Official Records of the County of Orange (the "School District Easement"). The use of such roadways by Grantee or any Grantee Party shall not interfere with or impede the use of the portion of the Easement Area by the School District as described in the School District Easement. 1.3 Duration and Termination. This Agreement and the easement granted by this Agreement shall remain in effect in perpetuity, unless sooner terminated by mutual agreement of the then current owners of the Grantee Parcel and the Grantor Parcel or, in the event an access road is offered for dedication to a public agency, termination shall occur solely as to such road upon dedication thereof to the City of San Juan Capistrano, the County of Orange or other public agency. Such termination (unless and to the extent by dedication) shall be evidenced by a written termination agreement signed by the then current owners of both the Grantee Parcel and the Grantor Parcel, and shall be effective on the date of recording of such termination agreement in the Official Records of Orange County, California. Termination shall be automatic as to any applicable access road, without further action of Grantor or Grantee, if and to the extent of dedication of such access road, provided Grantor and Grantee shall record a written termination upon the request of either party. 1.4 Easement Appurtenant. The easement granted by this Agreement shall be appurtenant to the Grantee Parcel. The easement granted pursuant to this Agreement shall be nonexclusive and for the use and benefit of each Grantee Party in common with Grantor and its licensees, permittees, successors and assigns. This Agreement is not intended to grant a fee interest in the Grantor Parcel, nor is it intended to be a lease or a license. 2. Insurance. [to be dcterminedJ Grantee shall maintain a comprehensive liability policy in such amounts as may be commonly carried by owners of similar properties that shall protect the Grantee and its officers, employees and agents from claims, losses or damages arising out of the acts or omissions of the Grantee Parties occurring in the Easement Area. All such policies shall name the Grantor as an additional insured. Grantor acknowledges that the insurance to be procured by Grantee hereunder may not be a separate policy insuring the Easement Area, but that the Easement Area may be insured as part ofthe insurance policy covering other real property interests of Grantee. 3. Indemnification. [to be determined] Grantee shall indemnifY, defend and hold Grantor harmless from and against any and all liability, loss, damage, cost or expense (including, but not limited to, reasonable attorneys' fees and court costs) arising from or in connection with the Grantee's or any Grantee Parties' use of the Easement Area, provided that no indemnification is given for any of the foregoing resulting from Grantor's, or Grantor's representatives', agents', assigns', employees', consultants' or officers' negligence or willful misconduct. 4. Binding Effect. This Agreement shall be binding on and shall inure to the benefit of the successors, and assigns of Grantor and Grantee. 5125111 9130.2 #96659 v8 2 5. Attorneys' Fees. If any legal action or proceeding arising out of or relating to this Agreement is brought by either party to this Agreement, the prevailing party shall be entitled to receive from the other party, in addition to any other reliefthat may be granted, the reasonable attorneys' fees, costs, and expenses incurred in the action or proceeding by the prevailing party. 6. Recordation of Agreement. This Agreement shall be recorded in the Official Records of Orange County, State of California, and shall serve as notice to all parties succeeding to the interest of the parties hereto that their use of the Grantee Parcel and Grantor Parcel shall be benefited or restricted, or both, in the manner herein described. 7. Entire Agreement; Amendments. This Agreement and that certain Agreement Regarding Access Easement contain the entire agreement of the parties hereto relating to the easement herein granted. Any representations or modifications concerning this Agreement shall be of no force and effect, accepting a subsequent modification in writing, signed by all of the then current owners of the Grantee Parcel and the Grantor Parcel and recorded in the Official Records of Orange County, State of California. 8. Warranty of Authority. Grantor hereby represents and warrants to and for the benefit of Grantee that (i) Grantor has full power and authority to place the encumbrance of this Agreement on the Grantor Parcel, (ii) Grantor has not conveyed (or: purported to convey) any right, title or interest in or to the Grantor Parcel except as has been disclosed herein, and (iii) if necessary or appropriate, Grantor has the written consent of any lenders, tenants and subtenants of the Grantor Parcel to the terms and conditions of this Agreement. 9. Notices. All notices, demands, solicitations of consent or approval, and other communications hereunder required or permitted shall be in writing and shall be deemed to have been given (i) when personally delivered or telecopied, (ii) one (1) business day after the date when deposited with an overnight courier or (iii) three (3) business days after the date when deposited in the United States mail and sent postage prepaid by registered or certified mail, return receipt requested, addressed as follows: 5125/11 9130.2 #96659 v8 If to Grantor: with a copy to: If to Gl_'antee: Rancho San Juan Development LLC c/o Woodbridge Homes 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager Telephone No.: 949/493-1171 Facsimile No.: 949/661-5451 E-mail: tcunnimrhamlm"\oodbridgehomes.cot11_ IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Telephone: 949/655-7605 Email: ------- City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager/City Clerk 3 with a copy to: Attention: ----------------------------Telephone No.: Facsimile No.: --------------------- E-mail:-------------------- One Party may change its address for notice purposes under this Agreement by giving the other Party written notice of such change in the manner prescribed above. 10. Counterparts. This Agreement may be signed in multiple counterparts which, when signed by all parties, shall constitute a binding agreement. 5/25/11 9130.2 #96659 v8 [Signature Page Follows} 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written. "GRANTEE" CITY OF SAN JUAN CAPISTRANO By: Name: City Manager APPROVED AS TO FORM: By: City Attorney 5/25/11 9130.2 #96659 v8 5 "GRANTOR" RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ____________________ __ Todd Cunningham, Manager STATE OF CALIFORNIA COUNTY OF ______________ _ ) ) ss ) On , before me, , a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certifY under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Notary Public 5/25/11 9130.2 #96659 v8 6 EXHIBIT A GRANTOR PARCEL Parcel I of Lot Line Adjustment LLC 2003-004 recorded as Instrument No. 2003000294469 Official Records, together with the "Remainder Parcel" of Tract 16634 in the City of San Juan Capistrano per Map filed in Book 884, Pages 33 through 50, inclusive; of Miscellaneous Maps, both recorded in the Office of the County Recorder of Orange County, State of California. 5/25/11 9130.2 #96659 v8 A-1 5125/11 9130.2 #96659 v8 EXHffiiTB GRANTEE PARCEL [INSERT LEGAL DESCRIPTION] B-1 5/25/11 9130.2 #96659 v8 EXHffiiTC EASEMENT AREA LEGAL DESCRIPTION [ATTACHED] C-1 5125/11 9130.2 #96659 v8 EXHIBIT "C" Easement for street and Utility and Access Road And Recreational Trail Purposes (Secondary High School Access Street) (City Open Space Access Road and Recreational Trail) That portion of Parcel 1 of Lot Line Adjustment LLA 2003-004 recorded as Instrument No. 2003000294469, Official Records, together with that portion of the "Remainder Parcel" of Tract 16634 in the City of San Juan Capistrano per map filed in book 884, pages 33 through 50 inclusive of miscellaneous maps, both recorded in the office of the county recorder of Orange County, State of California, being more particularly described as follows: Beginning at the northwest comer of said Parcel 1 ; Thence North 68°13'09" East 25.02 feet to a line that is parallel with and 25 feet northeast of the southwesterly line of said Parcel 1; Thence along said parallel line, South 19°17'33. East 551.08 feet; Thence North 67°41'26" East 232.51 feet to the beginning of a tangent curve, concave northwesterly having a radius of 60.00 feet; Thence northeasterly along said curve a distance of 51.62 feet through a central angle of 49°1 7'24. to a point on the southwesterly right-of-way line of La Pata Avenue (50 foot half width) as shown on said aforementioned Lot Line Adjustment 2003-004; Thence along said right-of-way line. South 21o46'51. East 46.87; Thence leaving said right·of-way line, South 67°41'26" West 204.91 feet; Thence South 52°56'08. West 1 03.87 feet to a point on the southwesterly line of said Parcel 1 of said LLA 2003-004; Thence along said southwesterly line North 19°17'33" West 578.84 feet" Thence leaving said southerly line of said Parcel1, South 70°42'27" West 25.00 feet to a line that is parallel with and 25 feet southwesterly of the aforementioned southerly line of said Parcel 1 ; Thence along said parallel line. North 19°17'33" West 58.13 feet to the northwesterly line of said "Remainder Parcel" of Tract 16634; C-2 5/25/11 9130.2 #96659 v8 EXHffiiTD EASEMENT AREA MAP. [ATTACHED] D-1 N SCALE: 1" = 1 00' 5/25/11 9130.2 #96659 v8 EXHIBIT "D" IN THE CITY OF. SAN JUAN CAPISTRANO, COUNTY OF ORANGE, STATE Of CALIFORNIA DRWN BY _.,PIK~C _____ OATE 4-12-10 CHKD BY JA OAT£ ._....., D-2 \ \ \ SHEET 1 OF 1 \ \. \ \ \ W.O. 267-3 EXHIBITD ACCESS ROAD SPECIFICATIONS A road 22" in width consisting of an 8" base and 4" asphalt surface (MORE TO COME] 5/26/11 9130.2 #96779 v7 D-1 AGENDA REPORT TO: Dave Adams, Interim City Manager ~ FROM: Cindy Russell, Administrative Services Director ,. (' .,,._, .=:r .... . \..,'1..../ l.A../ 6/7/2011 G1a SUBJECT: Consideration of First Amended and Restated Joint Community Facilities Agreement (CFD 2005-1), Access Easement and Agreement Regarding Access Easement Located West of La Pata Avenue Approximately 1.4 Miles South of the Ortega Highway (Capistrano Unified School District), (Rancho San Juan Developer, LLC), (Whispering Hills, LLC) RECOMMENDATION: By Motion, adopt the Resolution approving substantially as to form 1. Exhibit A -the Joint Community Facilities Agreement (CFD 2005-1) among the City of San Juan Capistrano, Capistrano Unified School District, Rancho San Juan Development, LLC, and Whispering Hills, LLC relating to the Whispering Hills Estates development; and, 2. Exhibit B-an Access Easement and Agreement Regarding Access Easement. SITUATION: In July 2005, the City, Capistrano Unified School District (CUSD).and Whispering Hills Estates developer, Whispering Hills, LLC ("Prior Owner"), entered into a Joint Community Facilities Agreement (Original JCFA) related to CFD 2005-1 (CFD) to fund CUSD facilities as well as City fees and facilities (Attachment 2). Based on the expected cost of School Facilities to be funded from bond proceeds and pay-as-you-go funds from the CFD exceeding the cost of City Facilities to be funded from bond proceeds, CUSD is the lead agency for the CFD. Rancho San Juan Development, LLC, (Landowner), the successor in interest to the Prior Owner has requested CUSD take certain action with respect to the CFD requiring the amendment of the Original JCFA resulting in a First Amended and Restated Joint Community Facilities Agreement (F/A JCFA) (Attachment 1 ). The City's participation in the CFD provided the Prior Owner an opportunity to secure a portion of the CFD funds for the reimbursement of the cost of City Facilities in addition to School Facilities. Additionally, the City was provided the opportunity to secure a portion of the funds available for City Facilities to fund community-wide facilities that would otherwise not be funded by this development. As it relates to the City, the F/A JCFA provides for changes from the Original JCFA in allocation of bond construction proceeds and pay-as-you go funds, the total amount of City Facilities that are eligible for Agenda Report Page2 June 7, 2011 reimbursement from the CFD, and further specificity of the Landowner's obligation to pay City fees when due and construct City Facilities as and when required by City policies and guidelines. Allocation of Bond Construction and Pay-as-you-go Funds Section 3 of the Original JCFA provides for any bond proceeds escrowed to be first reserved for School Facilities. The remainder bond proceeds, if any, would be available for City Facilities, however subject to escrow release tests as identified in the Bond Indenture and the terms of such escrow release test to be determined by CUSD at its sole discretion. The Original JCFA did not provide for any sharing of pay-as-you-go funds prior to issuance of all of the bonds. The F/A JCFA provides for 60% of all bond proceeds to be allocated to School Facilities and 40% to City Facilities. Additionally, any special taxes levied prior to the issuance of bonds (pay-as-you-go funds) deposited into the Special Fund would be allocated in a similar fashion in anticipation of bonds being issued. In the Original and F/A JCFAs, the final property valuations, bond market and interest rates would determine the ultimate proceeds available for City Facilities. Identification of City Fees and Facilities Exhibit B to the Original JCFA and Exhibit C to the F/A JCFA outline the list of eligible City Facilities as well as that portion of all disbursements for City Facilities to be allocated to the City for additional facilities at the determination of the City. Exhibit C to the F/A JCFA also outlines those fees paid and facilities constructed to date and those yet to be paid and constructed. Timing of Payment of City Fees and Construction of City Facilities The F/A JCFA provides for the Landowner to be reimbursed from the CFD bond and special tax proceeds for eligible fees paid and/or facilities constructed. In simple terms, the F/A JCFA relates to when the Developer is reimbursed for such fees and/or improvements, not when they are paid and/or built. Section 3 of the Original JCFA provided for the Prior Owner to pay all City fees when and as due in accordance with the City's policies regardless of whether or not bond proceeds were available to fund these fees. Additionally, City Facilities required for the development are to be constructed as required by the City without regard to funding from the CFD. Section 4 of the F/A JCFA provides more specific language regarding the Landowner's obligation to pay all City fees when due. Section 4(a) provides that, "Landowner acknowledges that neither the City, School District nor CFD No. 2005-1 has any obligation to pay any amount with respect to City Facilities except as to the amount available in the Special Fund and City Facilities Account from time to time, regardless of the cost of the City Facilities, nor will the unavailability of such funds reduce the amounts owed by Landowner to City with respect to City Facilities." Section 4(f) further provides "The provisions of this F/A JCFA shall in no way relieve the Landowner from Agenda Report Page 3 June 7, 2011 the payment of any fees charged by the City." Also, "This F/A JCFA shall in no way be construed as a deferral of any City Fee otherwise due with respect to the Project. .. " Section 5 -City Acquisition of Acquisition Facilities provides for the terms and conditions under which the developer can be reimbursed for eligible facilities constructed pursuant to the City's requirements. Access Easement and Access Road In addition to the amendment to the CFD, the City"also requested an access easement across property owned by the Landowner and construction of an access road in order to access landlocked property adjacent to the area. This access easement would provide an access to City property from an improved access off of La Pata. The access easement and agreement are included as Exhibit 2 to the Resolution Staff recommends the City Council adopt the Resolution approving the First Amended and Restated Joint Community Facilities Agreement (CFD 2005-1) among the City of San Juan Capistrano, Capistrano Unified School District, Rancho San Juan Development, LLC and Whispering Hills, LLC relating to the Whispering Hills development and an Access Easement and Agreement Regarding Access Easement COMMISSION/BOARD REVIEW AND RECOMMENDATIONS: Not Applicable FINANCIAL CONSIDERATIONS: The revised CFD projections associated with the F/A JCFA provide for a reduction in the special taxes and a reduced amount of bond proceeds available for bond financed facilities. Under the CFD projections associated with the original JCFA, the special taxes are currently at an amount that results in a total estimated tax rate of 2.19% to 2.46% based on projected property values. The total estimated tax rate for the revised CFD associated with the F/a JCFA is 1.825%. In the past, the City Council has identified a projected average total tax rate of 1. 7% to be maximum rate they are willing to support for this type of participation in a CFD. The final property valuations, bond market and interest rates ultimately determine the amount of bonds issued and the proceeds available for bond financed School and City Facilities. The original bond financed facilities projection of $19.1 million allocated $6.9 million first to School Facilities and the remainder of $12.2 million to City Facilities. The original JCFA provides for 10% of funds allocable to City Facilities be allocated to the City for community-wide facilities and the remainder be available to the developer for City fees and facilities that are required as part of this development. Based on the projected available proceeds of approximately $12.2 million, the City's share of funding for community-wide facilities was estimated to be approximately $1.2 million. Agenda Report Page4 June 7, 2011 Similar to the Original JCFA, the F/A JCFA provides an opportunity for the City to receive funding from the City Facilities portion of the CFD for community-wide facilities that would not otherwise be paid by this development. As identified earlier in this report, 60% of bond proceeds shall be allocated to School Facilities and 40% to City Facilities. The City will receive 12% of all of amounts deposited for City Facilities and the Landowner will receive 88%. Exhibit B to the F/A JCFA provides for two alternative bond sale amounts and bond proceeds. The first is based on an average bond coupon rate of 6.0%, while the more conservative projection is based on an 8.0% rate. Based on the more conservative 8.0% rate, bond financing for facilities is estimated at $11.6 million. Funding for City Facilities at 40% is estimated at $4.64 million, with the City receiving approximately $557,000 (12%) for additional community-wide facilities. The less conservative projection at 6.0% results in bond financing for facilities of $15.6 million. Funding for City at 40% is estimated at $6.26 million, with the City receiving approximately $751,000 (12%) for additional community-wide facilities. Funding for community-wide facilities provided from CUSD Community Facilities Districts is required to be used to fund capital facilities. In the past, CFD funds available to the City were used for the construction of Los Rios Park. The City's Capital Improvement Fund budget has not included these funds in the past and currently does not include these funds. Funding from CFD is not included in the City's projections as a revenue source until they are actually identified and deposited into the City Facilities Account. NOTIFICATION: Jeffrey Stava, Nossaman, LLP Ron Lebs, Capistrano Unified School District Alex Bowie, Bowie, Arneson, Wiles & Giannone (CUSD Counsel) Andrea Roess, Taussig and Associates (CUSD Consultant) Todd Cunningham, Woodbridge Development Blaine Peterson, Rancho San Juan Development John Yeager, O'Neil, LLP (Rancho San Juan Development Counsel) Jim Reardon Agenda Report Page 5 RECOMMENDATION: By Motion, adopt the Resolution approving substantially as to form June 7, 2011 1. Exhibit A -the Joint Community Facilities Agreement (CFD 2005-1) among the City of San Juan Capistrano, Capistrano Unified School District, Rancho San Juan Development, LLC, and Whispering Hills, LLC relating to the Whispering Hills Estates development; and, 2. Exhibit B-an Access Easement and Agreement Regarding Access Easement Respectfully submitted, aucU~ Cindy Rus~ll Chief Financial Officer/City Treasurer Attachments: 1 . Resolution 11-06-07 -XX 2. Joint Community Facilities Agreement CFD 2005-1, dated July 1, 2005 3. Proposed Special Taxes and Bonded Indebtedness for CFD 2005-1, (07-27-06) 4. Location Map RESOLUTION NO. 11-06-07 -XX RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, APPROVING A FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT, AN AGREEMENT REGARDING ACCESS EASEMENT AND AN ACCESS EASEMENT; MAKING CERTAIN DETERMINATIONS RELATING THERETO; AND AUTHORIZING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH AND CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS) WHEREAS, the City of San Juan Capistrano (the "City") is a municipal corporation duly organized and validly existing under the laws of the State of California; and WHEREAS, the City, the Capistrano Unified School District (the "School District"), the Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills) (the "CFD") and Whispering Hills, LLC, a Delaware limited liability company ("Prior Owner") have previously executed a Joint Community Facilities Agreement, dated as of July 1, 2005 ("JCFA") with respect to the CFD; and WHEREAS, Rancho San Juan Development LLC, a Delaware limited liability company (the "Landowner"), the successor in interest to the Prior Owner, has requested that the School District take certain action with respect to the CFD, which action also require amending the JCFA; and WHEREAS, there have been presented at this meeting a form of First Amended and Restated Joint Community Facilities Agreement (the "Amended JCFA"), among the City, the School District, the CFD, the prior Owner and the Landowner; and WHEREAS, in partial consideration for the City to enter into the Amended JCFA, the Landowner proposes to grant the City a nonexclusive easement and right of way over certain property of the Landowner to provide ingress and egress to certain City property, pursuant to an Access Easement between the City and the Landowner (the "Access Easement") and an Agreement Regarding Access Easement between the City and the Landowner (the "Easement Agreement"), copies of which have been presented at this meeting . NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Juan Capistrano does hereby find as follows: Section 1: Approval of Amended JCFA. The form of Amended JCFA, as presented to this meeting (Exhibit A), is hereby approved. The Mayor or City Manager (or their designated representative), each acting alone (collectively the "Officers"), are hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver the Amended JCFA, in substantially the form presented to this meeting, with ATIACHMENT 1 such changes therein as such Officers may require or approve, with the advice and approval of the City Attorney and Nossaman LLP ("Special Counsel"), such approval to be conclusively evidenced by the execution and delivery thereof. Section 2: Approval of Easement Agreement and Access Easement. The forms of Easement Agreement and Access Easement, as presented at this meeting (Exhibit B), are hereby approved. The Officers are hereby authorized and directed, for and on behalf of the City, to execute, acknowledge and deliver the Easement Agreement and Access Easement, in substantially the forms presented at this meeting, with such changes therein as such Officers may require or approve, with the advice and approval of the City Attorney and Special Counsel, such approval to be conclusively evidenced by the execution and delivery thereof. Section 3: Other Acts. The Officers and staff of the City are hereby authorized and directed, jointly and severally, to do any and all things, to execute and deliver any and all documents, which in consultation with Special Counsel, they may deem necessary or advisable in order to effectuate the purposes of this Resolution, and any and all such actions previously taken by such Officers or staff members are hereby ratified and confirmed. Section 4: Effective Date. This Resolution shall take effect upon adoption. PASSED, APPROVED, AND ADOPTED this --------' 2011. SAM ALLEVA TO, MAYOR ATTEST: MARIA MORRIS, CITY CLERK 2 day of FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT among CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHOSANJUANDEVELOPMENTLLC FINAL S/31/11 and WIDSPERING IDLLS, LLC 158190.6 EXHIBIT A FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING WLLS, LLC THIS FIRST AMENDED AND RESTATED JOINT COMMUNITY FACILITIES AGREEMENT AMONG CAPISTRANO UNIFIED SCHOOL DISTRICT, COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS), CITY OF SAN JUAN CAPISTRANO, RANCHO SAN JUAN DEVELOPMENT LLC AND WHISPERING HILLS, LLC. ( "F/A JCFA") dated this _day of ___ , 2011, by and among the CAPISTRANO UNIFIED SCHOOL DISTRICT, of Orange County, California, a school district organized under the laws of the State of California ("School District" and "State"), COMMUNITY FACILITIES DISTRICT NO. 2005-1 (WHISPERING HILLS), a community facilities district fonned and operating pursuant to State laws including the Act (as defined below) ("CFD No. 2005-1"), the CITY OF SAN JUAN CAPISTRANO, a general law city ("City"), RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("Landowner") and WHISPERING HILLS, LLC, a Delaware limited liability company ("Prior Owner"), individually "Party'' and in some instances referred to herein collectively as the "Parties." RECITALS A. The City, School District and Landowner's predecessor-in-interest, Prior Owner, entered into that certain Joint Community Facilities Agreement among Capistrano Unified School District and City of San Juan Capistrano and Whispering Hills, LLC relating to Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) as of July 1, 2005 (" JCF A"), with respect to proposed CFD No. 2005-1. CFD No. 2005~ 1 has now been fonned, pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Government Code Section 53311 et seq. ("Act"), as to the property described on Exhibit "A" ("Property"), and is added hereto as a Party. Prior Owner has assigned the JCFA to Landowner, and the Property is included in CFD No. 2005-1. B. Landowner has requested that CFD No. 2005-1 conduct proceedings to consider reducing the "Special Taxes" of CFD No. 2005 .I, pursuant to the Act, which proceedings are now pending ("Sff Revision Proceedings''), and if completed as proposed by Landowner, will reduce the Special Taxes and the amount of bonds to be issued by CFD No. 2005-1. In conjunction with the Sff Revision Proceedings, the School District, CFD No. 2005-1, Landowner, and Prior Owner expect to enter into a First Amended Impact Mitigation Agreement related to the Whispering Hills Project and Community Facilities District No. 2005-1 ("F/A Agreement''), which will, among other matters, specify the parameters for issuance of two series of bonds of CFD No. 2005-1 ("Bonds") to finance School Facilities as described and defined in the F/A Agreement, payment of the "Incremental Payment Obligation" provided for in the F/A Agreement and City Facilities (defined below). The City, School District, CFD No. 2005-1, Prior Owner and Landowner intend to enter into this F/A JCFA to supersede the JCFA concurrent with the execution of the F/A FINAL 5/31/11 2 158190.6 Agreement. This F I A JCF A shall become effective ("Effective Date") on the same conditions and date as the F I A Agreement. C. Landowner is the owner and developer of the Property and has obtained the necessary development approvals ("City Entitlements") to construct approximately 155 residential "Dwelling Units" on the Property ("Project"), and to provide the required infrastructure for such Dwelling Units, as described in Exhibit "B" prepared by David Taussig & Associates ("Special Tax Administrator for CFD No. 2005-1 ") based on information provided by Landowner. CFD No. 2005-1 has been authorized, pursuant to the Act, to finance School Facilities as described in the FIA Agreement, certain roadway, water, sewer, storm drain and other public improvements that are included in City fee programs described in Exhibit "C" hereto ("City Fee Facilities") and other improvements, described on Exhibit "C" that have been constructed by the Prior Owner, or in the future may be constructed by Landowner and acquired by City, to be owned and operated by the City ("Acquisition Facility(ies)"). The City Fee Facilities are to be provided in lieu of the payment of certain fees imposed by the City as a condition of development of the Project ("City Fees"). Additional capital improvements of the City that are to be constructed by the City and that relate to needs created by development of the Project may also be financed through CFD No. 2005-1 ("Additional City Facilities"). The Additional City Facilities, together with the Acquisition Facility(ies) and City Fee Facilities, are collectively referred to herein as the "City Facilities." Proceeds of Special Taxes and Bonds to be provided to City for City Facilities shall be provided pursuant to this FIA JCFA, so long as consistent with applicable law, including the Act, federal law relating to use of proceeds of tax-exempt bonds for capital facilities, not services, maintenance or repair, and Landowner shall comply with the applicable provisions of Article 2 (commencing with Section 1770) of Chapter 1 of Part 7 of Division 2 of the Labor Code ("Labor Compliance Requirements" and "LCR"). D. The cost of the School Facilities was determined at the time of formation of CFD No. 2005-1 to be funded by a larger share of the proceeds of the Special Taxes and Bonds ofCFD No. 2005-1 than the City Facilities. Such is determined to be the case as to this FIA JCFA, therefore the School District was determined, and is hereby determined, to be the governing body for the administration, levy of Special Taxes, and issuance of Bonds of CFD No. 2005-1. E. The provision of the School Facilities and the City Facilities is necessitated by the development of the Project within CFD No. 2005-1 and the Parties hereto find and determine that the residents of the City, the School District, and CFD No. 2005-1 will be benefited by the construction and/or acquisition of the City Facilities and the School Facilities, and as such, this FIA JCFA is beneficial to the interests of such residents ofthe City and the School District. F. The Parties hereto intend to have CFD No. 2005-1, to the extent provided in the FIA Agreement and this FIA JCFA, assist in funding the City Facilities based on amounts which will vary depending on the interest rate at which the Bonds are issued as shown on Exhibit "B" and as provided in the F/A Agreement and applicable law, including the Act and federal law pertaining to use of proceeds of the Bonds. G. The City is authorized by Section 53313.5 of the Act to assist in the financing of the acquisition and/or construction of the City Facilities and the School District is authorized to assist in the financing of the School Facilities. This Agreement constitutes an amended joint community facilities agreement, within the meaning of Section 53316.2 ofthe Act, by and among the City, FINAL 5/31/11 3 158190.6 Prior Owner, Landowner, CFD No. 2005-1, and the School District, pursuant to which CFD No. 2005-1 was and is authorized to finance the construction and/or acquisition of the City Facilities to the extent and as provided in this F/A JCFA and the F/A Agreement. As authorized by Section 53316.6 of the Act, responsibility for constructing, providing and operating the School Facilities is agreed to be the function of the School District and responsibility for constructing, providing for and operating the City Facilities is agreed to be the function of the City. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: I. Recitals. Each of the above recitals is incorporated herein and is true and correct. 2. Sff Revision Proceedings. At the request of Landowner, CFD No. 2005-1 has initiated proceedings to consider reducing the Special Taxes of CFD No. 2005-1. 3. Sale ofBonds and Use of Proceeds. (a) The issuance and sale of Bonds and allocation of proceeds of the Special Taxes ofCFD No. 2005-1 and proceeds of the Bonds shall be as set forth in the F/A Agreement and this FIA JCFA. CFD No. 2005-1 shall maintain records consistent with generally accepted accounting procedures as determined by CFD No. 2005-1 relating to the disbursements of proceeds ofthe Special Taxes and the proceeds ofthe sale of each series ofthe Bonds. (b) Pursuant to the F/A Agreement, Special Taxes shall be levied on property within CFD No. 2005-1 prior to the issuance of all Bonds of CFD No. 2005-1 to finance School Facilities and City Facilities. Of the amount of such Special Taxes collected by CFD No. 2005-1 and deposited in the "Special Fund" established pursuant to the F/A Agreement, 60% shall be disbursed to finance School Facilities and 40% shall be disbursed to finance City Facilities. On the first business day following each April I funds in the Special Fund as of March I, and October I funds in the Special Fund as of September I, CFD No. 2005-1 shall be disbursed to City an amount equal to 400/o of the amount then on deposit in the Special Fund. Of such amount disbursed to the City, 88% shall be disbursed by City in the priority specified in Section 4(c) below and 12% shall be used by the City to fund Additional City Facilities. (c) Each series of Bonds shall be issued pursuant to a fiscal agent agreement, trust indenture or similar document ("Indenture"). The Indenture shaU establish a City Facilities Account ("City Facilities Account") into which the proceeds of each series of Bonds (to the extent provided in the F/A Agreement) shall be deposited to fmance all or a portion of the City Facilities listed in Exhibit C, in the amounts and to the extent provided in the F/A Agreement. Landowner acknowledges that City shall not be liable for CFD No. 2005-1 's failure to issue Bonds or the failure to issue Bonds in an amount sufficient to pay for all or any part of the School Facilities and City Facilities. In no event will an act, or an omission or failure to act, excepting only an event of wiJlful misconduct, by the City with respect to the disbursement or nondisbursement of funds pursuant to this F/A JCFA or by CFD No. 2005-1 with respect to the provision of any other funding for the School Facilities or the City Facilities subject the City to liability hereunder. FINAL 5/31/11 4 158190.6 4. Disbursements. (a) Landowner acknowledges that neither the City, School District nor CFD No. 2005-1 has any obligation to pay any amount with respect to City Facilities except as to the amount available in the Special Fund and City Facilities Account from time to time, regardless of the cost of the City Facilities, nor will the unavailability of such funds reduce the amounts owed by Landowner to City with respect to City Facilities. The proceeds of the Bonds designated for the City Facilities, to the extent provided in the F/A Agreement and this F/A JCFA, shall be held by the fiscal agent or trustee for the Bonds ("Fiscal Agent'') in the City Facilities Account, which shall be a separate account. Funds in the City Facilities Account shall be invested by the Fiscal Agent, as detennined by the Fiscal Agent, and earn and accwnulate interest thereon as provided in the applicable Indenture. Funds in the City Facilities Account shall be available to finance the City Facilities, as provided for in this F/A JCFA, except to the extent CFD No. 2005-1 detennines interest earnings must be rebated to the United States in accordance with the Internal Revenue Code of 1986, as amended. Landowner agrees that City shall be entitled to receive an amount equal to 12% of the total amount deposited in the City Facilities Account with respect to each series of Bonds for Additional City Facilities ("Additional City Facilities Amount"). City agrees that the provisions of this F/A JCFA with respect to the funding to be provided from the Special Fund and City Facilities Account for Additional City Facilities shall fully satisfy the provisions of Section 6. 7 of that certain "Amended Development Agreement for Whispering Hills Estates" by and between the City and Landowner dated July 16, 2009. The foregoing bas no applicability to School District nor CFD No. 2005-1. (b) The Fiscal Agent shall make disbursements to City from the City Facilities Account in accordance with the tenns of this FIA JCFA and the Indenture. Neither the School District nor CFD No. 2005-1 shall be responsible to the City for costs incurred by the City as a result of withheld or delayed payments. (c) The City agrees that prior to requesting payment from CFD No. 2005-1 relating to City Fee Facilities and Additional City Facilities it shall review, verify, and approve all costs included in its request and (a) will have already paid such costs of City Fee Facilities and Additional City Facilities from its own funds or shall have prepared a check for disbursement which will be mailed or hand delivered within 48 hours of receipt ofCFD No. 2005-1 funds, (b) or will have already encumbered the funds requested and will trace and remit to CFD No. 2005-1 all earnings, if any, by the City in excess of the yield on the applicable Bonds accruing from the investment of the proceeds of the Bonds requested, from the date of receipt of such proceeds by the City to the date of expenditure by the City of such proceeds for verified legitimate capital costs of the City Fee Facilities or Additional City Facilities as herein described, and (c) City Fee Facilities and Additional City Facilities for which payment is requested, pursuant thereto were or will be constructed in accordance with applicable law, including the LCR to the extent the City detennines it is applicable. Such remittance, if any, shall occur on the earlier of the date of expenditure of such proceeds or each anniversary date of the transfer of such proceeds from CFD No. 2005-1 to the City. The City agrees that in processing the above disbursements it will comply with all applicable law for the expenditure of Bond proceeds including the Act, as amended, the Internal Revenue Code of 1986, and any amendments thereto. Prior Owner and Landowner have advanced to the City amounts for certain City Fee Facilities pursuant to the JCFA, as specified in Exhibit "C." Consequently, as between Landowner and City, the first priority for the disbursement of funds received from the Special Fund in accordance with Section 3(b) above and from the City Facilities FINAL 5/31111 5 158190.6 Account shall be those amounts previously advanced, amounts attributable to the Additional City Facilities as provided herein, and upon City's receipt of the disbursement of funds from the City Facilities Account and the Special Fund, Landowner shall be reimbursed and repaid for its prior advances by the City in an amount equal to 88% of such disbursements and City shall retain 12% of such disbursement for Additional City Facilities. If Landowner or its designee is required to advance additional funds to the City for City Fee Facilities to the extent herein provided prior to the availability of sufficient funds in the Special Fund or the City Facilities Account, such advances shall be reimbursed by City to Landowner at the time, and only to the extent, funds in an equal amount are disbursed to the City for City Fee Facilities in satisfaction of the corresponding City Fees from the Special Fund or City Facilities Account. City and Prior Owner acknowledge that the City has no obligation to reimburse the Prior Owner for any amounts provided for in this FIAJCFA. (d) The City agrees to maintain adequate internal controls over its payment function and to maintain accounting records in accordance with generally accepted accounting procedilres. The City will, upon request, provide to CFD No. 2005-1 its annual fmancial report certified by an independent certified public accountant for purposes of calculating CFD No. 2005-1 's arbitrage rebate obligations, if any. CFD No. 2005-1 shall have the right to conduct its own audit of the City's records at reasonable times and during normal business hours. (e) Upon receipt of Landowner's written request, the City shall submit a request for payment for City Fee Facilities to CFD No. 2005-1 to send to the Fiscal Agent, which shall be in the form attached hereto as Exhibit "D", shall be signed on behalf of CFD No. 2005-1 by the Deputy Superintendent, Business Support Services of School District or written authorized designee and by the City Manager or written authorized designee of City, and shall be for the exact amount paid or encumbered or to be disbursed as provided in paragraph (c) above by the City for City Fee Facilities costs. At the same time as the City submits a payment request to CFD No. 2005-1 pursuant to this Section 4(e) or a payment request pursuant to Section 5(d) below, it may also submit a payment request for Additional City Facilities to the extent, and as limited by this FIA JCFA, including not by way of limitation, Recital C above and Exhibit "C,'' in an amount equal to 25% of the amount in such other payment request, but only until the amount disbursed to the City with respect to the applicable series of Bonds equals the Additional City Facilities Amount. Upon receipt of an approved payment request by CFD No. 2005-1 and City completed in accordance with the terms of this F/A JCFA, the Fiscal Agent shall wire transfer such portion of requested funds as are then available for release from the City Facilities Account pursuant to the Indenture to the City's bank account, as directed by the City. If there are insufficient funds available in the City Facilities Account to pay the entire amount requested, the unfunded amount shall be paid as soon as possible following the deposit of additional funds in the City Facilities Account. If more than one payment request has been submitted, the Fiscal Agent shall make payment on all payment requests from available funds in proportion to the total amount submitted. (t) The provisions of this F/A JCFA shall in no way relieve the Landowner from the payment of any fees charged by the City, nor does any provision of this F/A JCFA constitute deferral or any fee or facility required to be paid or provided by the Landowner with respect to the development of the Property when otherwise due under the policies and procedures of the City. If the City Fees which would otherwise be due to the City from the Project ultimately are determined to be less than the amounts, if any, deposited in the City Facilities Account, the Landowner shall not be entitled to any rebate or other credit or consideration, it being intended that FINAL 5/3 1/11 6 158190.6 the amount deposited in the City Facilities Account be applied solely as a credit up to the amount of the total City Fees otherwise due with respect to the Project, and the Landowner bears the risk that the total of such City Fees are less than the amount deposited in the City Facilities Account. Any deposit to the City Facilities Account shall in no way fix the amount of the City Fees due with respect to the Project, and any increase in City Fees from and after the date ofthis F/A JCFA shall be taken into account in detennining the amount of the credit to be given pursuant to this F/A JCFA, except as may have otherwise been agreed to by the City and the Landowner. If the total City Fees due with respect to the Project are greater than the amounts, if any, deposited to the City Facilities Account, the excess shall be charged to the Landowner in the same manner that such City Fees would be charged by the City in the absence of this F/A JCFA. This F/A JCFA shall in no way be construed as a deferral of any City Fee otherwise due with respect to the Project and amounts remaining in the City Facilities Account when it is closed, if any, shall be transferred as provided in Section 8.4 ofthe F/A Agreement. 5. City Acquisition of Acquisition Facility(ies). (a) Plans and Specifications. Landowner shall be responsible for the preparation of the plans and specifications ("Plans and Specifications") for each Acquisition Facility(ies) described in Exhibit C, which shall relate to the need created by development of the Project. The Plans and Specifications shall confonn to the requirements of the City for the Acquisition Facility(ies) and shall be subject to the review and approval by the City. (b) Construction and Inspection of the Acquisition Facility(ies). Each Acquisition Facility(ies) shall be constructed in accordance with the Plans and Specifications as approved by the City. Landowner shall be solely responsible for the bidding, contracting and construction of the Acquisition Facility(ies) and each Acquisition Facility that is acquired with the proceeds of the Bonds shall be bid, contracted and constructed in accordance with the requirements set forth in this Section 5. Neither School District nor CFD No. 2005-1 shall have any responsibility whatsoever for the bidding, contracting and/or construction of the Acquisition Facility(ies). The construction of each Acquisition Facility shall be subject to inspection by the City. Upon the request of Landowner, the City shall notify CFD No. 2005-1 and Landowner in writing when the Acquisition Facility(ies) has been substantially completed in accordance with the Plans and Specifications and when the Acquisition Facility(ies) has been finally completed and is ready for acceptance by the City Engineer. In order for Acquisition Facility(ies) to be eligible to be fmanced with the proceeds of the Bonds, Prior Owner and Landowner shall have complied with and shall prospectively comply with the following conditions precedent: (i) City shall approve the Plans and Specifications and the construction bid documents, (ii) the contractor to whom the construction contract is awarded shall comply with the LCR to the extent determined applicable by the City and pay not less than the prevailing rates of wages for all construction work pursuant to Labor Code Sections 1770, 1773 and 1773 .I, and (iii) the construction contract shall be awarded, on the basis of competitive bids, to the lowest, responsible bidder. City, Prior Owner and/or Landowner shall affirm and warrant that Landowner's compliance with all provisions of this Section S(b) ensures that the Acquisition Facility(ies) to be acquired with the proceeds of the Bonds is consistent with the Act, the LCR to the extent determined applicable by the City, and shall be constructed as if it had been constructed by the City. For purposes of this Agreement, an Acquisition Facility(ies) shall be deemed "substantially completed" when Landowner has notified the City that the Acquisition Facility(ies) FINAL 5/31111 7 158190.6 has been completed in accordance with its Plans and Specifications, the City's inspector has inspected the facility, prepared a final "punch list" and has determined that the punch list items required to be completed are itenis not required for the safe operation of the Acquisition Facility(ies) and can therefore be completed after the Acquisition Facility(ies) has been accepted by the City, and provision has been made to the City's satisfaction for completion of such items. For purposes of this Agreement, "final completion" of the Acquisition Facility(ies) shall be deemed to have occurred, when all punch list items have been completed to the satisfaction of the City and all contractors and subcontractors constructing the grading improvements shall have provided lien and material releases. (c) Acquisition and Ownership of the Acquisition Facility(ies). Upon receipt by CFD No. 2005-1 of notification by the City that an Acquisition Facility(ies) has been completed in accordance with the provisions hereof, the Acquisition Facility(ies) shall be deemed eligible for acquisition by the City. Simultaneously upon acquisition of the Acquisition Facility(ies) by the City, title to the land or, if acceptable to the City, an irrevocable offer of dedication of the land, underlying the Acquisition Facility(ies) shall be conveyed to the City if such title or irrevocable offer of dedication has not previously been conveyed to the City. Neither the School District, CFD No. 2005-1 nor the City is directly or indirectly obligated, indebted or otherwise liable for the payment of the "Acquisition Price," or any portion thereof, of the Acquisition Facility(ies). Upon acceptance of the Acquisition Facility(ies) by the City, the City shall incorporate the Acquisition Facility(ies) in the City's public works system. Following the expiration of any warranty period applicable to the construction of the Acquisition Facility(ies) during which warranty period Landowner shall be responsible for the maintenance of the Acquisition Facility(ies), the City shall thereafter be responsible for the maintenance of the Acquisition Facility(ies) in accordance with all app!icable City maintenance procedures and practices. (d) Payment Requests. The form of payment request to be submitted by Landowner to City and by City to CFD No. 2005-1 in requesting payment by the District of the Acquisition Price with respect to an Acquisition Facility(ies) shall be substantially in the form of Exhibit D-1 hereto. The Acquisition Price of an Acquisition Facility(ies) shall include all actual costs and expenses relating to the planning, design, engineering, construction and inspection of the Acquisition Facility(ies) substantiated to the reasonable satisfaction of City. Within ten (10) business days of Landowner's submission to City of a payment request, City shall determine if the Acquisition Facility(ies) has been finally completed and shall either deny or approve the payment request and send it to CFD No. 2005-1, which approval shall not be unreasonably withheld. If City denies any payment request it shall provide Landowner a detailed written explanation describing the reasons or rational for such denial. All denied payment requests may be resubmitted for approval. Landowner shall reimburse City for its actual costs incurred in connection with the processing of such payment requests, including the inspection of the Acquisition Facility(ies) and such amounts shall be included in the Acquisition Price paid from the City Facilities Account. The City shall send approved payment requests to CFD No. 2005-1, which within ten (10) business days will forward such request to the Fiscal Agent. The Fiscal Agent shall wire transfer the amount of the approved Acquisition Price to the City as designated by City. City will in turn make payment to Landowner as specified in the payment request. The sole source of funds for payment FINAL 5/31/11 8 158190.6 of the Acquisition Price of an approved Acquisition Facility(ies) shall be the funds on deposit in the City Facilities Account and funds disbursed to the City from the Special Fund. 6. Tax Matters. In connection with the issuance of any Bonds, where a portion of the proceeds will be deposited in the City Facilities Account for the payment of City Facilities, City agrees to execute and deliver such certifications and agreements as may be reasonably required in order for Bond Counsel for CFD No. 2005-1 to conclude that interest on such Bonds will be excluded from gross income under Section 103 of the Internal Revenue Code of 1986. City agrees that it shall not use proceeds of Bonds provided to pay for City Facilities in any manner that would cause interest on the Bonds to become included in gross income for federal income tax purposes. City represents the following with respect to the use of the proceeds of the Bonds provided to fund City Facilities: (a) City expressly acknowledges that the Bonds are subject to Federal tax requirements applicable to the tax-exempt securities; (b) City expressly confirms and warrants to CFD No. 2005-1 that the City FaciJities financed hereunder have not been previously fmanced with the proceeds of other tax -exempt securities or bonds; and (c) City agrees to promptly provide written notice to CFD No. 2005-1 of any such financing of City Facilities financed hereunder until the issuance of the Bonds. City reasonably expects to expend the proceeds of the Bonds on City Facilities as identified in Exhibit "C," attached hereto, and by this reference herein incorporated, within three (3) years from the date of issuance of the Bonds. City further agrees to maintain proceeds of the Bonds provided to pay for City Facilities in a separate accounting, apart from all other accountings of City. City shall maintain adequate controls over its payments, and of proceeds of the Bonds provided to pay for City Facilities accounting records, in accordance with generally accepted accounting principles as to its receipt and expenditure of proceeds of Bonds provided to pay for City Facilities. City will, upon request, provide CFD No. 2005-1 and/or Landowner with access to City records related to the City Facilities and will provide to CFD No. 2005-1 and/or Landowner, its annual financial report certified by an independent certified public accountant upon either Party's request and payment of applicable copying charges, if any, in accordance with the City's Public Record Act guidelines. CFD No. 2005-1 agrees to maintain full and accurate records of all amounts, and investment earnings, if any, expended for such Projects. CFD No. 2005-1 will, upon request, provide City and/or the Landowner with access to CFD No. 2005-1 's records relating to the City Facilities Account. 7. Indemnification. Landowner shall assume the defense of, indemnify and save harmless, School District, CFD No. 2005-1 and the City, their respective officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of or resulting from, any act or omission of Landowner with respect to Landowner's obligations under this F/A JCFA. This shall include any and aU claims, actions, damages, losses, or expense of every type or description relating to the failure of Prior Owner or Landowner to comply with the LCR as FINAL 5/31/11 9 158190.6 to any City Fee Facilities, Acquisition Facilities, or privately-funded public improvements required by City Entitlements of the Project; provided, however, that Landowner shall not be required to indemnify any person or entity as to damages resulting from willful misconduct of such person or entity or their officers, agents or employees. 8. Allocation of Special Taxes. The Board of Trustees of School District, as the governing body of CFD No. 2005-1, shall annually levy a Special Tax, subject to completion of the Sff Revision Proceedings, as provided for in the Sff Revision Proceedings. The entire amount of any Special Tax levied by CFD No. 2005-1, as provided in the F I A Agreement, shall be allocated to CFD No. 2005-1, as provided in the F/A Agreement. 9. Amendment. This F/A JCFA may be amended at any time but only in writing signed by each Party hereto. 10. Entire Agreement. This F/A JCFA contains the entire agreement between the parties with respect to the matters provided for herein and supersedes the JCF A. 11. Notices. Any notice, payment or instrument required or permitted by this Agreement to be given or delivered to either party shall be deemed to have been received when personally delivered or seventy-two hours following deposit of the same in any United States Post Office in California, registered or certified, postage prepaid, addressed as follows: School District: CFD No. 2005-1 With copy to: City of San Juan Capistrano: FINAL 5/31111 Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attention: Deputy Superintendent, Business Services Bowie, Arneson, Wiles & Giannone 4920 Campus Dr., Newport Beach, CA 92660 Attention: Alexander Bowie, Esq. City of San Juan Capistrano 32400 Pasco Adelanto San Juan Capistrano, California 92675 Attention: City Manager 10 158190.6 Landowner: With a copy to: With a copy to: Prior Owner: Rancho San Juan Development LLC 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager O'Neil LLP 19900 MacArthur Blvd., Suite 1050 Irvine, CA 92612 Attention: John Yeager, Esq. IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Whispering Hills, LLC c/o IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Each Party may change its address for delivery of notice by delivering written notice of such change of address to the other parties hereto. 12. Exhibits. All exhibits attached hereto are incorporated into this F/A JCFA by reference. 13. Severability. If any non-material part of this F/A JCFA is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this F/A JCFA shall be given effect to the fullest extent reasonably possible. 14. Governing Law. This F/A JCFA and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California. 15. Waiver. Failure by a party to insist upon the strict performance of any of the provisions of this F/A JCFA by the other parties hereto, or the failure by a party to exercise its rights upon the default of another party, shall not constitute a waiver of such party's right to insist and demand strict compliance by such other parties with the terms of this Agreement thereafter. 16. No Third Party Beneficiaries. No person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this F/A JCFA (either express or implied) is intended to confer upon any person or entity, other than the City, the School District, the District, Prior Owner and Landowner (and their respective successors and assigns), any rights, remedies, obligations or liabilities under or by reason of this F/A JCFA. FINAL 5/31111 11 158190.6 17. Singular, Plural and Gender. As used herein, the singular of any word includes the plural, and terms in the masculine gender shall include the feminine. 18. Counterparts. This F/A JCFA may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute but one instrument. IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. Approved as to form: By: Name: Nossaman, LLP ., Special Counsel CAPISTRANO UNIFIED SCHOOL DISTRICT By: Name: ------------------------ Title: Approved as to form: By: and Alexander Bowie, Counsel to Capistrano Unified School District Community Facilities District No. 2005-1 FINAL 5/31/11 CITY OF SAN JUAN CAPISTRANO By: Name: Mayor ATTEST: Name: City Clerk COMMUNITY FACILITIES DISTRICT NO. 2001-1 of the Capistrano Unified School District By: Name: ------------------------ Title: 12 158190.6 FINAL 5/31/11 RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ____________________ _ Todd Cunningham, Manager WIDSPERING HILLS, LLC, a Delaware limited liability company By: Name: Title: By: Name: Title: 13 158190.6 EXHIBIT A DESCRIPTION OF PROPERTY The real property within Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills): Those certain parcels ofland situated in the City of San Juan Capistrano, County of Orange, State of California described as follows: A-1 David Taussig & Associates, Inc. S/2612011 FY 2010-11 Assessor's Parcels within CFD No. 2005-l of the Capistnao Unified School District (Whispering Hills) Assessor's Parcel Number Tract b!! Owner Ill Amla 124-140-SO RANCHO SAN JUAN DEVELOPMENT LLC 0.048 664-241-01 16634 ISS RANCHO SAN JUAN DEVELOPMENT LLC 0.746 664-241-02 16634 IS4 RANCHO SAN JUAN DEVELOPMENT LLC 0.722 664-241-03 16634 153 RANCHO SAN JUAN DEVELOPMENT LLC 0.660 664-241-04 16634 152 RANCHO SAN JUAN DEVELOPMENT LLC 0.704 664-241-0S 16634 lSI RANCHO SAN JUAN DEVELOPMENT LLC 0.697 664-241-06 16634 ISO RANCHO SAN JUAN DEVELOPMENT LLC 0.965 664-241-07 16634 149 RANCHO SAN JUAN DEVELOPMENT LLC 1.134 664-241-08 16634 148 RANCHO SAN JUAN DEVELOPMENT LLC 0.697 664-241-09 16634 147 RANCHO SAN JUAN DEVELOPMENT LLC 0.708 664-241-10 16634 146 RANCHO SAN JUAN DEVELOPMENT LLC 0.795 664-241-1 I 16634 14S RANCHO SAN JUAN DEVELOPMENT LLC 0.818 664-241-12 16634 144 RANCHO SAN JUAN DEVELOPMENT LLC 1.032 664-241-13 16634 143 RANCHO SAN JUAN DEVELOPMENT LLC 0.918 664-241-14 16634 142 RANCHO SAN JUAN DEVELOPMENT LLC 0.815 664-241-IS 16634 141 RANCHO SAN JUAN DEVELOPMENT LLC 0.910 664-241-16 16634 s RANCHO SAN JUAN DEVELOPMENT LLC 0.120 664-241-17 16634 R RANCHO SAN JUAN DEVELOPMENT LLC 2.190 664-241-18 16634 M RANCHO SAN JUAN DEVELOPMENT LLC 0.140 664-241-19 16634 N RANCHO SAN JUAN DEVELOPMENT LLC 0.150 664-241-20 16634 E RANCHO SAN JUAN DEVELOPMENT LLC 10.130 664-241-21 16634 G RANCHO SAN JUAN DEVELOPMENT LLC 34.020 664-241-22 16634 c RANCHO SAN JUAN DEVELOPMENT LLC 4.310 664-251-04 16634 L RANCHO SAN JUAN DEVELOPMENT LLC 0.002 664-251-05 16634 0 RANCHO SAN JUAN DEVELOPMENT LLC 8.690 664-2Sl-06 16634 H RANCHO SAN JUAN DEVELOPMENT LLC 17.840 664-251-08 16634 T CITY OF SAN JUAN 0.990 664-251-10 (PORTION) 16634 PORTION OF LOT B RANCHO SAN JUAN DEVELOPMENT LLC S.530 664-2SI-13 16634 D RANCHO SAN JUAN DEVELOPMENT LLC 1.740 664-251-IS 16634 PORTION OF LOT F RANCHO SAN JUAN DEVELOPMENT LLC 124.S70 664-252-01 16634 10 RANCHO SAN JUAN DEVELOPMENT LLC 0.231 664-252-02 16634 9 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-2S2-03 16634 8 RANCHO SAN JUAN DEVELOPMENT LLC 0.243 664-252-04 16634 7 RANCHO SAN JUAN DEVELOPMENT LLC 0.2SS 664-252-0S 16634 6 RANCHO SAN JUAN DEVELOPMENT LLC 0.241 664-2S2-06 16634 s RANCHO SAN JUAN DEVELOPMENT LLC 0.246 664-252-07 16634 4 RANCHO SAN JUAN DEVELOPMENT LLC 0.254 664-2S2-08 16634 3 RANCHO SAN JUAN DEVELOPMENT LLC 0.276 664-252-09 16634 2 RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664-252-10 16634 RANCHO SAN JUAN DEVELOPMENT LLC 0.350 664-252-11 16634 24 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664-252-12 16634 2S RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664-252-13 16634 23 RANCHO SAN JUAN DEVELOPMENT LLC 0.451 664-252-14 16634 22 RANCHO SAN JUAN DEVELOPMENT LLC 0.250 664-252-IS 16634 21 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-252-16 16634 20 RANCHO SAN JUAN DEVELOPMENT LLC 0.237 K:\CLIENTS2\CAPO.USD\MELLO\whisphiii\Database\ 1().11\APN Exhibit Page I of4 Duvid Tuussig & AssociBtcs, Inc. S/2612011 FY 2010-11 Assessor's Parcels within CFD No. 2005-l of the Capistrano Unified School District {Whispering Hills) Assessor's Parcel Number !!:!.£! 12! Owner Ill Awu.t 664-252-17 16634 19 RANCHO SAN JUAN DEVELOPMENT LLC 0.248 664-252-18 16634 18 RANCHO SAN JUAN DEVELOPMENT LLC 0.252 664-252-19 16634 44 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-20 16634 45 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-21 16634 46 RANCHO SAN JUAN DEVELOPMENT LLC 0.245 664-252-22 16634 47 RANCHO SAN JUAN DEVELOPMENT LLC 0.581 664-252-23 16634 26 RANCHO SAN JUAN DEVELOPMENT LLC 0.236 664-252-24 16634 27 RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-252-25 16634 28 RANCHO SAN JUAN DEVELOPMENT LLC 0.244 664-252-26 16634 29 RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-252-27 16634 48 RANCHO SAN JUAN DEVELOPMENT LLC 0.443 664-252-28 16634 49 RANCHO SAN JUAN DEVELOPMENT LLC 0.303 664-252-29 16634 so RANCHO SAN JUAN DEVELOPMENT LLC 0.354 664-252-30 16634 51 RANCHO SAN JUAN DEVELOPMENT LLC 0.282 664-252-31 16634 52 RANCHO SAN JUAN DEVELOPMENT LLC 0.317 664-252-32 16634 53 RANCHO SAN JUAN DEVELOPMENT LLC 0.352 664-252-33 16634 54 RANCHO SAN JUAN DEVELOPMENT LLC 0.384 664-252-34 16634 55 RANCHO SAN JUAN DEVELOPMENT LLC 0.421 664-252-35 16634 56 RANCHO SAN JUAN DEVELOPMENT LLC 0.428 664-252-36 16634 30 RANCHO SAN JUAN DEVELOPMENT LLC 0.239 664-252-37 16634 31 RANCHO SAN JUAN DEVELOPMENT LLC 0.236 664-252-38 16634 32 RANCHO SAN JUAN DEVELOPMENT LLC 0.568 664-252-39 16634 33 RANCHO SAN JUAN DEVELOPMENT LLC 0.322 664-252-40 16634 34 RANCHO SAN JUAN DEVELOPMENT LLC 0.266 664-252-41 16634 35 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-252-42 16634 u RANCHO SAN JUAN DEVELOPMENT LLC 0.100 664-253-01 16634 17 RANCHO SAN JUAN DEVELOPMENT LLC 0.320 664-253-02 16634 81 RANCHO SAN JUAN DEVELOPMENT LLC 0.281 664-253-03 16634 80 RANCHO SAN JUAN DEVELOPMENT LLC 0.282 664-253-04 16634 79 RANCHO SAN JUAN DEVELOPMENT LLC 0.329 664-253-05 16634 78 RANCHO SAN JUAN DEVELOPMENT LLC 0.410 664-253-06 16634 77 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-253-07 16634 76 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-08 16634 15 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-09 16634 74 RANCHO SAN JUAN DEVELOPMENT LLC 0.574 664-253-10 16634 16 RANCHO SAN JUAN DEVELOPMENT LLC 0.325 664-253-11 16634 15 RANCHO SAN JUAN DEVELOPMENT LLC 0.473 664-253-12 16634 14 RANCHO SAN JUAN DEVELOPMENT LLC 0.748 664-253-13 16634 II RANCHO SAN JUAN DEVELOPMENT LLC 0.232 664-253-14 16634 12 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-15 16634 13 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664-253-16 16634 140 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664-253-17 16634 139 RANCHO SAN JUAN DEVELOPMENT LLC 0.305 664-253-18 16634 138 RANCHO SAN JUAN DEVELOPMENT LLC 0.319 664-253-19 16634 137 RANCHO SAN JUAN DEVELOPMENT LLC 0.366 664-253-20 16634 136 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664-253-21 16634 135 RANCHO SAN JUAN DEVELOPMENT LLC 0.304 I{;ICLIENTS2\CAPO.USD\MELLO\whisphiii\Database\ I O-Il \APN Exhibit Page 2 of4 David Tall!lsig & Associates, Inc. S/261201 I FY 2010-11 Assessor's Parcels within CFD No. 2005-1 or the Capistrano Unified School District (Whispering Hills) Assessor's Parcel Number Tract !:.21 Owner !I! Acreage 664-253-22 16634 134 RANCHO SAN JUAN DEVELOPMENT LLC 0.300 664-253-23 16634 133 RANCHO SAN JUAN DEVELOPMENT LLC 0.349 664-253-24 16634 73 RANCHO SAN JUAN DEVELOPMENT LLC 1.016 664-253-25 16634 72 RANCHO SAN JUAN DEVELOPMENT LLC 0.360 664-253-26 16634 71 RANCHO SAN JUAN DEVELOPMENT LLC 0.298 664-253-27 16634 70 RANCHO SAN JUAN DEVELOPMENT LLC 0.350 664-253-28 16634 69 RANCHO SAN JUAN DEVELOPMENT LLC 0.367 664-253-29 16634 68 RANCHO SAN JUAN DEVELOPMENT LLC 0.589 664·253-30 16634 67 RANCHO SAN JUAN DEVELOPMENT LLC 0.279 664-253-31 16634 66 RANCHO SAN JUAN DEVELOPMENT LLC 0.254 664-253-32 16634 65 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253·33 16634 64 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-34 16634 63 RANCHO SAN JUAN DEVELOPMENT LLC 0.230 664-253-35 16634 62 RANCHO SAN JUAN DEVELOPMENT LLC 1.030 664-253-36 16634 I RANCHO SAN JUAN DEVELOPMENT LLC 0.130 664-254-01 16634 57 RANCHO SAN JUAN DEVELOPMENT LLC 0.695 664-254-02 16634 39 RANCHO SAN JUAN DEVELOPMENT LLC 0.370 664-254-03 16634 38 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-04 16634 37 RANCHO SAN JUAN DEVELOPMENT LLC 0.273 664-254-05 16634 36 RANCHOSANJUANDEVELOPMENTLLC 0.264 664-254-06 16634 43 RANCHO SAN JUAN DEVELOPMENT LLC 0.342 664-254·07 16634 42 RANCHO SAN JUAN DEVELOPMENT LLC 0.310 664-254-08 16634 41 RANCHO SAN JUAN DEVELOPMENT LLC 0.368 664-254-09 16634 40 RANCHO SAN JUAN DEVELOPMENT LLC 0.513 664-254-10 16634 101 RANCHO SAN JUAN DEVELOPMENT LLC 0.586 664-254-11 16634 102 RANCHO SAN JUAN DEVELOPMENT LLC 0.461 664-254-12 16634 103 RANCHO SAN JUAN DEVELOPMENT LLC o.415 664-254-13 16634 104 RANCHO SAN JUAN DEVELOPMENT LLC 0.393 664-254-14 16634 lOS RANCHO SAN JUAN DEVELOPMENT LLC 0.365 664-254-15 16634 106 RANCHO SAN JUAN DEVELOPMENT LLC 0.336 664-254-16 16634 107 RANCHO SAN JUAN DEVELOPMENT LLC 0.330 664-254-17 16634 108 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-18 16634 109 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-19 16634 110 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-20 16634 Ill RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-21 16634 112 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-254-22 16634 113 RANCHO SAN JUAN DEVELOPMENT LLC 0.349 664-254-23 16634 114 RANCHO SAN JUAN DEVELOPMENT LLC 0.280 664-255-01 16634 82 RANCHO SAN JUAN DEVELOPMENT LLC 0.293 664-255-02 16634 83 RANCHO SAN JUAN DEVELOPMENT LLC 0.308 664-255-03 16634 84 RANCHO SAN JUAN DEVELOPMENT LLC 0.272 664-255-04 16634 85 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-05 16634 86 RANCHO SAN JUAN DEVELOPMENT LLC 0.266 664-255-06 16634 87 RANCHO SAN JUAN DEVELOPMENT LLC 0.286 664-255-07 16634 88 RANCHO SAN JUAN DEVELOPMENT LLC 0.326 664-255-08 16634 89 RANCHO SAN JUAN DEVELOPMENT LLC 0.267 664-255-09 16634 58 RANCHO SAN JUAN DEVELOPMENT LLC 1.809 ~3\CLJENTS2\CAPO.USD\MELLO\whisphiii\Databuse\ 10-11\APN Exhibit Page 3 of4 David Taussig&: Associates, Inc. S/26/2011 FV 2010-11 AJsessor's Parcell within CFD No. 2005-1 orthe Capistrano Unified School District (Whispering Hilb) Assessor's Parcel Number !!:W Lot Owner Ill amw 664-255-10 16634 59 RANCHO SAN JUAN DEVELOPMENT LLC 0.414 664-255-11 16634 60 RANCHO SAN JUAN DEVELOPMENT LLC 0.396 664-255-12 16634 61 RANCHO SAN JUAN DEVELOPMENT LLC 0.851 664-255-13 16634 90 RANCHO SAN JUAN DEVELOPMENT LLC 0.582 664-255-14 16634 91 RANCHO SAN JUAN DEVELOPMENT LLC 0.676 66+255-IS 16634 92 RANCHO SAN JUAN DEVELOPMENT LLC 0.412 664-255-16 16634 93 RANCHO SAN JUAN DEVELOPMENT LLC 0.430 664-255-17 16634 94 RANCHO SAN JUAN DEVELOPMENT LLC 0.426 664-255-18 16634 95 RANCHO SAN JUAN DEVELOPMENT LLC 0.413 664-255-19 16634 96 RANCHO SAN JUAN DEVELOPMENT LLC 0.394 664-255-20 16634 97 RANCHO SAN JUAN DEVELOPMENT LLC 0.382 664-255-21 16634 98 RANCHO SAN JUAN DEVELOPMENT LLC 0.370 664-255-22 16634 99 RANCHO SAN JUAN DEVELOPMENT LLC 0.361 664·255-23 16634 100 RANCHO SAN JUAN DEVELOPMENT LLC 0.382 664-255-24 16634 liS RANCHO SAN JUAN DEVELOPMENT LLC 0.288 664-255-25 16634 116 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-26 16634 117 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-27 16634 118 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-28 16634 119 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-29 16634 120 RANCHO SAN JUAN DEVELOPMENT LLC 0.215 664-255-30 16634 121 RANCHO SAN JUAN DEVELOPMENT LLC 0.267 664-255-31 16634 122 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-32 16634 123 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-33 16634 124 RANCHO SAN JUAN DEVELOPMENT LLC 0.264 664-255-34 16634 125 RANCHO SAN JUAN DEVELOPMENT LLC 0.283 664-255-35 16634 126 RANCHO SAN JUAN DEVELOPMENT LLC 0.286 664-255-36 16634 127 RANCHO SAN JUAN DEVELOPMENT LLC 0.277 664·255-37 16634 128 RANCHO SAN JUAN DEVELOPMENT LLC 0.445 664-255-38 16634 129 RANCHO SAN JUAN DEVELOPMENT LLC 0.310 664-255-39 16634 130 RANCHO SAN JUAN DEVELOPMENT LLC 0.315 664-255-40 16634 131 RANCHO SAN JUAN DEVELOPMENT LLC 0.314 664-255-41 16634 132 RANCHO SAN JUAN DEVELOPMENT LLC 0.305 664-255-42 16634 J RANCHO SAN JUAN DEVELOPMENT LLC 1.190 No. ofParcels: 173 273.689 I I] Ownership based on 11112010 Assessor's Roll provided by the County. 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IIE I I N E S 1 I I E N T I N t E I I E S T A A T E DIS C O U N T AA T E F O R - NW . Y 8 1 8 PII O I ' E R T " t IN R A T I O N A A T E OD O I N I S l f . C o l t o N EJI P £ N S E I N F \ A l 1 0 H A A T E Pf R N w !M ' r m r ' f Y z m ' . a m Z J OE I I a . C l O ' E D E Q U V " L . E E « DW e W N C J OH l ~ A C R E ~ O C R E .l £ f i i E I U i l l j ·-30 .. _ 1 0 -·- III I C K U > TA A PB I RE S I C E H T I A I . A a ! E (£ l C I . U l E S CU S T O M lo O T S OJ S T O I I l O T 8A Q ( \.P TA X PE R LO T .,. SI' I ! C I " ' . TA l ( III C I I S I I & e FR I O R Tti i i U I I D O N I J PE R M T . . - . TA A ~ O F T E R I I U U l i N I J I ' S I M I T ~ lE V ' f OF IW Q I . t J M TA X II £ I I I D m z ·-.. ... . . . tO - ··- :u o " ... . . . 2 .. . . 2. .. . . ... $2 1 .. . $2 1 .. . $2 1 . 4 1 5 11 3 . I C I Z 2. .. . . ... . . . ... . . SU M M A R Y OF TA X CO M P t r r A T I O N S .. , , -- Mif i i ! I G E H J ,, __ "·· - ... . . . . . . . _. . . . 18 2 1 - SID 5 . D D D ... . . . . . . ... , . . . . , "I O T A L - I I I l l e l m l l i i E D tp T f l . . . '' ' P C f N 3 l i ! J Q __ _ , ... -- - · - li ! a i i A L . I M &.I . & mt M ! I I I I SO OU D a l ) l l l , 1 ~ so 0- ·-- so OGD C I D ' I I o 1C I D I I ' I ' sa OD D I I M 1 ~ so 0- ··- 10 D . ~ 1G I S . l l l % SO AC X I I I 7 S 1 . ~ sa o. _ , . 1. - --M a U n a CU S D . - - w . M ' N E I C f O F I ' U R C I I M £ P I I C : £ R E : 8 M M M i n l l Q I Y O F U N - ~ I U I U C F A Q U I I ! S - R D CI T Y O F U N - ~ - C I T Y F A C I U T I 0 MA J O f l CO N C U I S J O N S -II I 8 U S --u z 1 4 . --- 1 U T A L - 8 ! 1 M e e & - - PA Y _ Y O U - G D _ _ _ A L M _ O F _ P I I C I ! A e : U I I I I I S I J I ! - - - M Y _ _ _ "IO C U S O - MY _ _ _ _ CI T Y O F U H J U O N _ , _ P U I I U C F A C 1 1 1 1 1 D A H D F I ! U sn u D 5 MY _ _ _ _ CI T Y O F I I M J U O N - C 1 1 H i R C I T Y M a U I D - ~ - (S U o i U a l Tb T A L N ! T D E I T M M C ! .. . . . . . . . II ! I I M U a l 113 . I C I Z -S7 M 6 .. _ ... . ... . ... . . -. m fii R I M I n Jlt 1 M ' u• Bf T l l m -" - E R l Y TIU < A A T E SO H .N N < C N ' I S T I W « ) CIT Y GO BO N O S II W I J DE B T SE I M C E CA P I S 1 R A N O -I C H O O L DIS T R I C T SF 1 D NO t MC S O I I T O . A I I E N l f A S S E S S i o i E H T VE C 1 ' ( ) I I CO N ' T R C l CIW I G C MW O S T - C H A A G E .. . . . . . Rfi i T lf i M ( ; f GC M I M Q I J - CO I I E A A G E li S T II O O C I I S S . E IH J 1D SOU> UNTil) OR O S S C O V E R I C G E (I. T 8U I U l C I U T l OE T D E I I T II E I M C I ! C O I I E R M E - SP I I C U I L TA A W.Y U R 2 D t f 4 0 1 2 1 1. 1 & 0. 7 7 2 3 " 0.7 7 1 1 N QT 1 U i t < D. 7 7 - Q 7 7 - D. 7 7 - D.7 7 t : n o 0.7 7 1 2 " 1 0 ·-0 ........ .._ D.D11011l6 1$02 $1.1:1 ·-11G.Gl'llo , .. _ 111 . .,. - - I I P I C W . T A I I E I I llr- - - - - U £ C W . T - eo UN I I E Y D . O I ' E I I I I ' t Q I I L T - eo Td t i L i P ! d i t f i i & llf.libtW CU I O - - ' A L P A - O F P U I I C M . U I ! P I I I C I ! R E : ~ PA ! A J O l L 9 9 BM W 81 1 , . , . , . . . , . & M1 W f f t Q F P" ' G " M f ""f •·..,.,.,.. 1U T A L - O F - - - . . & . T - ( 1 1 $ ) -O F M Y _ _ _ _ A L _ O F _ P I I C e R E : . . , . _ -O F - P A Y - M - ' I O I M I O - T t l c : I I I 0 1 1 t S I -UI IIIIUB -.. -- ~ T ~ ~ ........ UJ CU S D CF D No . ZO O S . I (W I I l s p e r i n g Hil l s ) : 54 Dn l 1 \ - Un a u d l l e d Page:Z Fa i C A L Y E N I - ~ O F T M E & 20 1 1 - 1 2 20 1 Z - 1 3 11 1 " 1 3 - 1 4 20 1 4 - 1 1 11 1 " 1 $ . 1 1 20 1 1 - " 1 7 11 1 " 1 7 - 1 1 20 1 $ . 1 1 201-~ CA 1 . S 1 D A 1 1 YE A R . PA Y I I C N T 8 1 0 BO N D HO U l E R 8 20 1 2 20 1 3 - 20 1 1 111 " 1 1 111 " 1 7 111 " 1 1 2011 -2DZ1 I CE Q BO N p E p IN ! ) E B T E P N E S S "'e P 2 0 1 4 " ". J I I N 2 0 1 7 " cu s o Oll E R FIC I U T l E S so so s o so so M.9 2 2 . ! & S so 10 so so ~ A I . PA Y M E N T OF I'I . J A C t W l E PR I C E RE : SJ H I H S I S I T E so so SU 6 7 . f 1 l l so so $1 .1 2 1 . 1 1 5 2 so 10 so so CIT Y OF IW I Jl. I A N CA P I S 1 " R A N O PU B U C FH : 1 l . I T I E I I & FE E S so so S1 . 8 1 6 . ! M 8 so so $2 . 1 1 7 4 , : 1 4 5 so 10 so so OT H E R CIT Y FA C i l . J l l E S so so ~ 10 so $4 0 5 , 5 9 3 so 10 so 10 lO T A L fl t W I C E D P U I I U C FA C I U T l e S so so $5 . 4 3 1 . 8 8 ) 10 so S1 0 . 2 3 1 , 4 U so 10 so so TO T A L 80 I C l E D IN i l E B T E D N E S S so so $7 , 1 6 0 . 0 0 0 10 so S1 2 , 8 a 5 , 0 0 0 so 10 so so II AB S O R P T I O N -II I . I I L P I H G el l l l l l m i Il l gf ll l l . UN D E V E L O I ' E D PR O P E J n Y RS o W ! I I H G UN D E V a 0 1 ' £ 0 A C R E A G E 55 2 44 . 8 31 . 7 17 . 0 (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (0.0) (0.0) DE V E I . O P E D ~ P R O P E R T Y C U M U A ' I ! V E ~ I Q E N J E o.o 0.0 0.0 0.0 0. 0 0. 0 0. 0 0.0 0.0 0.0 DE V E I . O P E D RE S I D E N 1 W . PR O P E R T Y a. A S $ 1 CU S T C U HO M E S 0 0 0 0 15 15 15 15 15 15 a. A S $ 2 ~( > 4 , & 0 0 $ 1 ' ) 0 2 5 8 , 11 , 11 , , a. A & S 3 ~ ( 4 . 3 0 1 - 4,& 0 0 $ 1 ' ) 0 II 13 21 30 30 so so so so a. A S $ 4 ~1 3 . 1 0 1 - 4.3 0 0 6 F ) 0 2 5 8 12 12 12 12 12 12 a. A S $ 5 ~ 1 3 . 1 0 1 ·3 . 1 0 0 5 1 ' ) 3 8 15 23 27 27 27 27 27 27 a. A S $ 6 ~1 3 . 4 0 1 - 3 , 1 0 0 $ 1 ' ) 4 8 13 18 20 20 20 20 20 20 a. A S $ 7 ~C 2 . 1 1 0 1 - 3 , 4 0 0 $ F ) 3 9 18 24 so 30 30 30 30 30 a. A S $ 8 RE S I O E N 1 ' I A l . , .. 2, 1 0 0 $F ) 2 _ _ _ 4 _ _ _ e _ _ _ 8 _ _ _ 1_ o 10 _ _ _ 1_ o _ _ _ 1_o ___ 1_o ___ 1_o CU i o i i . \ A l ' I V E RE S I D E N T 1 A I . UN I T S 12 311 73 11 1 15 5 15 5 15 5 155 155 155 ·a . . . - . .. . . . . . . . . . . . . . . . . . . . . . . . ,.. . . . . 10 ME L L p . R Q O S SP E C L ' L T A W OJ UII I I I M ! I . I : I P E PR O P E R T Y SP E c : I A L TM E & so 10 10 10 so so so so so so I -. - n A I . P R O P E R T Y I I P E C I A I . TM E & UJ so so so so so so so 10 so so RE S I I S f T W . P R O P E I I I Y I P E C W . TA X E S aA & S 1 CU S T C U HO M E S so so so so so $2 3 0 . 2 3 4 $2 3 4 , 1 3 1 1 $2 3 8 , 5 3 1 &244,3211 1241,213 aA & S 2 RE S I D E N T l A I . ( > 4,& 0 0 SF ) so so 11 7 , 8 0 5 S4 5 M 8 $7 4 . 5 1 5 $1 0 4 . 5 0 7 $1 0 8 , 1 1 1 1 1 $1 0 8 , 7 2 1 1 $110,1104 $113.122 CI. A & I l 3 RE S D I ! N T W . (4 . 3 0 1 - 4,& 0 0 &F ) 10 so $4 8 , 0 3 4 $1 0 8 , 3 8 1 5 $1 7 1 . 5 5 2 $2 8 0 . 1 7 1 DI S , 3 7 9 $2 7 0 , 1 8 7 $271,100 $311.1123 aA & S 4 RE S I O E N 1 ' I A l . (3 . 1 0 1 - 4, 3 0 0 &F ) so so S1 5 , e M $4 0 , $ 3 0 S8 8 , 1 4 5 $1 0 1 , 2 1 1 2 S1 C I U 2 8 $1 0 5 . 2 1 1 0 $107,385 $108.544 a.A B S S R! ! I I I D E H 1 W . 13 . 1 0 1 - 3.1 0 0 6F ) so $2 1 , 7 4 1 1!! 1 , 1 3 5 $1 1 3 , 0 9 6 $1 1 1 1 . 1 8 3 $2 1 1 , 7 9 8 $2 1 1 1 , 0 3 4 S2 2 U 5 5 $224,782 $229.25'1 aA S S 8 RE 8 I D I ! H r W . (3 . 4 0 1 - 3, 1 0 0 8F ) so $3 1 , 4 8 3 $5 8 , 1 0 8 $1 1 & , 3 1 0 $1 3 6 . 0 1 8 11 5 4 , 1 5 5 $1 5 7 , 2 : 1 8 $1 8 0 , 3 8 3 $183.$81 $166.153 aA S S 7 R!! I I I D E H 1 W . C2 , 1 0 1 - 3. 4 0 0 8F ) so $2 0 , 3 2 1 11 1 2 . 1 1 3 S1 1 2 , 7 l i l l $1 7 2 . 5 2 0 $2 1 8 , 1 1 6 3 $2 2 4 , 3 8 3 S2 2 I , I 5 0 $233.427 S238.D85 a.A B S O R!! I I I D E H 1 W . , .. 2.1 0 0 8F ) so $1 2 . 8 0 1 $2 5 , 7 0 6 $3 1 1 . 3 3 1 1 $& 0 , 1 7 5 Sl 8 , 1 0 8 se e . e a $7 0 , 1 5 4 $72,373 m.szo lO T A L IP £ C I A L TM E & so $1 3 , 1 4 & $2 5 ' / , I Q -. . . . . . .. . . . . , 0 Sl , J $ 0 , 2 $ 4 S t , m , J H 11 , 4 0 4 , 7 1 4 St,4S2,171 StMt.aT IV Sp E C I A L TA X BE Q t i ! B E M E N T N& W 80 N D B ) 1N i l E B I 1 : D H E 8 a so so $7 , 1 6 0 , 0 0 0 10 so 11 2 . e t 5 . 0 0 0 so so so so N& W REB e R ~ ~ & FU t D so so $7 1 1 1 , 0 0 0 so so $1 , 2 1 1 8 , 1 0 0 so so so so ~ - IE I M C I ! -S E I U E S A so so so $4 2 8 . 8 0 0 $4 2 8 , 8 0 0 $4 3 4 , $ 3 2 $4 4 3 , 0 1 8 $4 5 1 . 5 ' 1 8 $480,1117 $470,138 ~ - IE I M C I ! - se R I E S B so so so so so S5 1 U O O S7 7 3 , 1 0 0 S7 7 3 , 1 0 0 S7l2.222 $787/ltfl - - - - - - - - - - - - NIN U A I . G R O S S DI I I T SE R V I C E so so so SC 2 1 1 . 8 0 0 - . - $1 1 0 0 , 1 3 2 $1 , 2 1 1 1 , 7 1 8 $1 . 2 2 6 . 5 7 1 1 $1,243,138 $1,2811.0012 CI'D A D a o 1 1 H i S T R A T I O N so $5 0 . 0 0 0 $5 1 . 0 0 0 15 2 . 0 2 0 $5 3 , 0 6 0 $5 4 , 1 2 2 SI8 . 2 0 4 SII I , 3 0 8 $57,434 -- RS E l M FIJ N D IN T E R E S T (8 l l DE I J N O U E N C Y I so so so so (3 1 6 , 1 1 2 1 1 ) ($ 1 6 , 1 a ) ($ 1 e . 8 2 8 ) ($ 1 1 1 , 8 2 8 ) ($47,128) ($47,128) CH ' I T A I J Z E I ) an a u : s r so so so (S 4 2 U O O ) so (1 6 1 6 , 1 1 0 0 ) ($ 2 5 ' 1 , 1 0 0 ) so so so PA Y .. A S - ~ FU N D S (I N C R B I I E N T A I . PA Y I I E N T OF PIJ I I C H A S E PR I C E RE : UI I H 5 I S I 1 l : ) so $1 1 M B $1 4 2 , 1 7 1 13 1 1 2 , 4 1 7 $2 3 8 . 3 8 5 so so so so so PA Y . . A S - ~ FU N D S (C I T Y OF SA N JU A H CA P I S m A N O PU 8 I J C FA C I U T I E S 1W D FE E S ) so $11 . 6 1 1 1 1 $& 1 , 4 1 1 $1 7 7 .. 11 $1 4 0 , 4 1 3 8 SS O U 7 0 so so so so PA Y . . A S - V Q U . G O FU N D 8 (C I T Y O F - JU A H CA P 1 S m A N 0 OT H E R CIT Y FA C V T I E S ) so $1 , 1 1 1 1 $1 1 , 3 7 4 $3 4 , 1 8 3 $1 9 , 1 5 1 $4 2 , 1 7 3 so so so so R9 W ! I I H G P A Y - M - ~ F I N I 8 1 0 C U 8 0 so so so _ J ! ! l ~ ~ ~ $1 3 1 1 . 7 2 3 ~ ~ NE T NIN U A I . I I E B l sa m c E so $1 3 , 1 4 1 $2 5 ' / , I Q - . - $1 M , I t 0 S 1 . - , n 4 St , J 7 7 . D I 11 , 4 0 4 , 7 1 4 St~ S1M1.PJ CU M U A ' I ! V E B O N D P I I O C E E D S I P A Y - A S - ' I Q V - G O F O R so $1 8 , 1 8 8 $3 . 5 2 9 . 2 4 5 $3 . 1 3 1 . 1 8 2 $4 , 0 7 1 , 0 4 1 •.o o o . o o o • • 00 0 , 0 0 0 se . o o o . o o o $0,000,000 •• 000,000 IN C R E M E N T A L PA Y I I E N T OF PU l C H A a i PR I C E R & : $J H I H S I S I T E NI N U A L S U I P U J S I ( D E F J C I so so so so 10 so so so so so CU I I U ! A l l \ I E ~ so so so so 10 so 10 so 10 so -OE I T I D D J Q " . J O f f l ) ( . U ' . . a : s u w £ S J A M I I O I I J P I Z ) ~ I I C N V ' A J M ! J I I r . l - CU S O CF D No . 20 0 5 - 1 (W h l s p e r l n g Hil l s ) : 54 01 3 1 1 - Un a u d i t e d Pagel Rl i C A l YE M • CX I U £ C 1 1 0 N OF TA X E S 20 1 1 - t 2 20 1 2 - U 20 1 ~ M :l l n 4 - 1 1 28 1 5 - 1 & :l l n l - 1 7 20 1 7 - 1 1 20 \ 6 - 1 8 _,_ 28Z041 CA L E N D M YE M • PA ' V I I C N T S TO 80 N O ttO I . O E f ! S 20 1 2 211 1 S 211 1 • 21 1 1 1 21 1 1 1 20 1 7 20 1 1 21111 211211 2IIS1 y. AV E R A G E AN H U A L SP E C f A L TA X UN i l i ! V a . O P B I PR O P E R 1 Y , P e l ~ so so so so so u u u '-0 '-0 -~ P I I O f i E R 1 Y . P I R A a a ! so so so so so so so so so so RE I I I I E H M L P I I O f i E R 1 Y , P I R U M T Cl A S S I CU S T O M HO M E S so so so so so $1 5 . 3 o l 9 11 5 , 6 5 6 $1 5 , 1 8 8 $18.2811 $18.11. CI A S S 2 RE l i i D E N T I A L (> · - S F ) so so .. .- su : r z 19 , 3 1 . S9 . 5 0 1 S8 . 1 1 9 1 19 . 1 1 1 4 $10.012 S10.2eoe CI A S S 3 Re l l l l e i i W . . (•. 3 1 1 1 .. . . -S F ) so so '1 1 1 1 . 1 7 2 $1 ! , 3 3 6 se . e o z '1 1 1 1 . 1 7 3 $1 , 1 4 8 S8. 1 1 2 3 S8.21lG S8.317 Cl A S S • RE l i i D E N T I A L (3 . 1 0 1 - •. 3 0 0 SF ) so so 17 , 9 Q $1 , 1 0 6 $8 . 2 8 6 'I I I . Q 3 '11 1 1 . 1 1 1 1 : se . n • $8,950 $8,129 CI A S S 5 RE l i i D E N J 1 A L . (3 . 1 0 1 - 3,1 1 0 1 1 SF ) so 17 ~ 7 17 . 3 9 2 17 , S . W 17 . 8 8 1 17 . 1 " _, S8 . 1 1 1 S8.325 SI.Ul Cl A S S I RE S I D E N 1 ' I A I . (3 • .0 1 · 3,7 0 1 1 SF ) so 17 . 1 2 1 17 . 2 & 3 17 , Q 17 , 5 5 7 17 . 1 0 1 17 . 8 1 1 2 SI . 0 1 9 Sl.110 11.343 CI A S S 7 RE l i i D E N T I A L (2 . 1 0 1 • ,_ S F ) so S& . 7 7 . S& . I O I I 17 . 0 . 7 $7 . 1 1 1 17 . 3 3 2 17 . - 4 7 9 17 . 1 2 9 17,781 17.137 CI A S S 8 RE S I D E N 1 ' I A I . (< o 2.1 1 0 1 1 SF ) so 18 , 3 0 1 1 lll . o C 2 7 11 1 , 5 5 5 $8 , 6 8 6 111 . 1 1 2 0 18, 1 1 5 1 1 $7 , 0 9 5 17.237 17,382 l/1 MAX I M U M sp E C I A L TA J I E S UN D E V E l . I I P E D PR O P E R T Y $1 , 2 1 5 , 1 5 & 2 $1 . 2 0 1 1 , 8 5 0 $1 , 0 1 1 1 ~ 17 2 1 . 7 8 1 1 S3 9 5 . 1 M 7 (1 0 1 (1 0 ) (101 (10) (10) -. - n A I . I ' R O P E R T Y so so so so so so so so so so RE 8 I D E N I I A I . I ' R O P E R T Y Cl A S S ! CU S T O M HO M E S so so so so so S2 3 0 Z M $2 3 0 , 8 3 9 12 3 9 . S . SZ.U.3211 Uf9.213 Ct A S S 2 RE l i i D E N T I A L (> · - S F ) so so 11 7 , $ 0 5 11 5 . 8 5 9 17 • .5 1 5 $1 0 . . 5 0 7 S1 0 6 , 5 N 11 0 8 , 7 2 9 1110.SO. $113,122 CI A S S 3 Re l l l l e i ! W . ( ' U 0 1 • •.e o a l ! l ' ) so so S4 8 , G M 11 0 6 . 1 8 5 11 7 8 . 5 6 2 S2 6 0 . 1 7 9 sa s . m IZ 7 0 . 6 8 7 1276,1011 1291,G3 Cl A S S • Re l l l l e i i W . . (3 . 1 0 1 · 4. 3 0 0 6F ) so so 11 1 , 8 9 o l S. 0 , 5 3 0 se e . 1 ~ 11 0 1 . 2 0 2 $1 1 1 3 . 2 2 8 11 1 1 5 . 2 1 1 0 S107.DI 1101,544 CI A S S S R9 I D E N r i A L (3 , 1 0 1 · 3.1 1 0 1 1 SF ) so 12 1 . 7 • 1 15 8 , 1 3 5 11 1 3 . 0 1 8 11 7 8 , 8 1 1 3 12 1 1 . 7 9 8 12 1 8 . 1 1 1 1 12 2 0 . 3 5 1 1 IZI-C.711Z 1229.251 ClA S S I RE l i i D E N J 1 A L . (3 • .o ! - 3.7 0 1 1 SF ) so 12 8 . - 4 8 3 15 8 , 1 0 6 19 9 . 3 1 0 $1 3 8 , 0 1 9 I1 S . . 1 5 5 11 5 7 . 2 3 1 1 11 6 0 , 3 1 1 3 11&3,511 11&6,1163 Q- ' S $ 7 R9 I D E N r i A L (2 . 1 0 1 · ,_ S F ) so 12 0 . 3 2 1 11 1 2 . 1 1 3 11 1 2 . 7 5 8 11 7 2 . 5 2 0 12 1 8 . 1 1 8 3 IZ I - C . 3 8 3 S2 2 U 5 0 liZ33.oC27 1231.0116 CV . S S 8 RE l i i D E N T I A L f< " 2.1 1 0 1 1 SF ) so 11 2 . 6 0 1 S2 5 , 7 0 5 $5 . 3 3 0 SI I 0 . 1 7 5 $5 8 , 1 9 9 11 1 9 . 1 8 3 $7 0 . - S72,S73 173,1211 - - - - - - - - - TO T A L MA X I - & P E C I A L TA X E S $1 , 2 8 $ , 1 8 l 11 , 2 9 2 . 1 N l1 . a t , D I I I $1 , % 7 7 , 8 3 7 11 . 2 f t , & S 7 ~~-- - - 11 . n ? . z s t S1 , 4 0 4 . n . l1.au79 11.-481,137 OJ W QE B T s g y r c g CO Y f U Q E I GR 0 6 S DE B T SE R V I C E C0 1 1 E R 1 1 G E FR O M 1S T 80 N D N« J 10 UN I T S " NA NA NA 11 0 . ~ 11 . z . . z n l . 11 3 . 2 7 % 11 3 2 7 ' 1 11 3 2 7 ' 1 11327'1 11327'1 ~ GR 0 6 S DE B T SE R V I C E CO I I E R I I G E • NA NA NA NA NA NA NA 1 1 0 . - 110.84 .. 110 ..... NE T DE B T SE R V I C E CO I I E R I I G E - NA NA NA NA NA NA NA 1 1 1 . - 11 •. oC3 .. 11UMI, • u. . u J U t A I J n t : U L T . 4 ¥ U l . D l C F D ~ tl/ V I D E D 6 r C " . I I I O D I I I i T I I ' S H I I J ' I C F . -U A U U t a t S i f 1 3 A L T A & U u : s t C P D ~ I ' U 4 M S D : I - ' E ~ DM D E t ) I I T G R m O Q I T . J I D M C X ' CU S D CF O No . 20 0 5 - 1 (V o l l l l s p e r i n g Hi l l s ) : 54 Dr a f t • Um w d l l e d Page<! RI C A YE A R · C O U E C l i O N O F TA X £ 8 :IO Z 1 . Z Z zo z z . z z J0 2 W A - 20 2 S . z e 2D J S . a 21 1 1 7 - D - . a -~1 CA I S I I W I V E A R • PA ' I M & N l S TO -I I O U I E R S zo z z 2D 2 3 211 J o l 21 1 2 5 - 211 1 7 - --- L SOF A !I O N Q E Q !N D E B I E ! l N E S S CU S D Ol l E R FA C I U l i i ! S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 IN C R E l o E N T A L P A Y M E N T OF PU R C 1 W 1 E PR I C E RE : SJ H I H S I S I T E so so so so so $0 so so so $0 CI1 Y 01 SN I JU A N CA P I S T R A N O PU I I U C FI I C I U l 1 e l l & Fe E S so so so $0 so $0 $0 $0 so so Ol l E R CI1 Y FA C Q J T l i S $0 so so so so so so $0 $0 $0 TO T A L FIN i o N C E D PU I ! U C FI C I U T I E S so so so so so $0 so so $0 so TO T A L BO N D E D IN D E B T E D N E S S $0 so so so so so $0 so $0 so 0 II I & Q B P T I O N ·IL Y L Q I H G PI! A M J D 'I I R1 :U n • IIN D E V I ! L O I ' E D PR O P E R l Y RS I A I N I N O I H l E I I E L C I P E O AC R E A G E DIM ! 1 . 0 P e D ~ES 1 D I ! ! n W . . P I I O J I ! R I ' Y (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) (0.0) (D. D) (0.0) CU M I A . A T J Y E NO N - R E 8 I D I ! H T I A AC R E A G E 0.0 0.0 0. 0 0. 0 0. 0 0.0 o.o 0.0 0.0 0.0 DIM ! 1 . 0 P e D RII I I I E N T I A L PR O P E R T Y CI A S S 1 CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 CIA S S 2 II E S i t i E N r W . (> 4.6 1 1 0 SF ) 11 11 11 11 11 11 11 11 11 11 CI A S S 3 II E S i t i 9 ! T W . (4 . 3 0 1 -.. . , SF ) 30 30 30 30 30 30 30 30 30 30 CI A S S 4 II E S i t i 9 ! T W . 13 . 1 0 1 -4.3 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 ClA S S $ Re S I D E N T W . 13 . 7 0 1 - UI X I &F ) 27 27 27 27 27 27 27 27 27 27 CI. 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A I I S 7 RI! I I I D E N T W . 12 . 1 0 1 · 3.C O O SF ) J2 1 6 . 0 Q $3 0 1 , 1 1 6 3 $S 0 8 . 0 0 2 S3 1 C , 1 6 2 $3 2 0 . " ' $D . - $3 3 3 , 3 1 1 -. D S I _...., 1353.717 CI . A I I S I Rl! l l i D E N T 1 A I . (< > o 2.8 0 0 SF ) $11 . 7 1 1 1 1 SI3 . B 2 2 .. . . --- $1 1 , 3 5 2 $1 0 1 , : 1 3 1 S I G J . - 11 1 1 5 , 0 1 S107.5CI $101,1113 TO T A l . 8P I ! C I A L TA X E I $1 , 1 1 7 . 2 3 1 1 $1 , 1 P , A 2 ., . - , _ $1 , - . . a J ., __ _ u. . - , J 7 7 sz . - . - S2 . 0 1 7 . Q I I $2,121,114 $2.171,717 N !iP f C l A l - IA J ( BE O ! J ! B E M M N£ W II O N D I ! D IN D E 8 l 1 ! D N E S S so 10 10 so 10 10 10 so so so N£ W RE S E R V E FU N D so so so so so 10 10 so so so AN N U A L DE B T SE R I I I C E - SE R I E S A SS M . 5 5 o l SS B B - 2 4 $ S8 0 1 . 1 7 0 $1 2 0 . 3 3 3 $1 3 2 . 7 C O .. S , 3 8 5 SI S U O S $8 7 1 .... ----- AN N U A L DE B T SE R I I I C E • SE R I E S B - 7 $1 , 0 1 1 . 1 1 8 1 1 SI . D 3 2 . 1 2 1 11 . 1 1 5 2 . ' 8 1 ll. o 7 3 . 8 2 o l SI. O I I S . S O O $1 , 1 1 7 . 2 0 1 S1 , 1 3 1 , S S O II,I&Z.lCI SI.IIIII.SII - - - AN N U A L - CE B T S E R I I I C E $1 , S l 8 . 8 0 1 $1 . 1 0 1 1 . 1 : 1 3 S1 . 8 4 0 . 2 t l l $1 , & 7 3 , 1 0 2 II . T O & . s t 11 . 7 C O , & H 11 . n s . 5 0 9 11 . 1 1 1 . 0 1 9 S1 .... 7.2CO SIJIN.IN C F 0 ~ 1 1 0 N $7 2 .. . . 1 S7 C . 2 1 7 17 5 . 7 1 3 m. 2 f t S' I I , W --- 11 2 , Q J O Sl 3 . 5 7 1 --~ $87.051 RI! S E R I E FU N D IN T I ! A E S T I& " DE L J N Q I J ! ! N C Y ) ($ ' 7 . 1 2 1 ) ($ ' 7 , 1 2 1 ) ($ ' 7 , 1 2 1 ) ($ ' 7 . 1 2 1 ) ($ ' 7 , 1 2 1 ) ($ ' 7 . 1 2 1 ) ($ ' 7 , 1 2 1 ) ($ ' 7 , 1 2 1 ) (SoCT. 121) ($'7.121) CN ' I T I W Z E D IN l S I E 8 T so so so so so so so so so so PA Y - A S - Y O I J . 4 0 FU N D S (IH C R E I I E N T A I . PA Y I E N T OF PU R C 1 t A S E PR I C E Re : SH H S I S I 1 E ) so so so so so s o so so so so PA T - A S - Y O I J . 4 0 FU N D S tc m ' C I F SA N JI . I A N C A P I S T R N I O P U I I U C FA C I L I T I E S /lH D fE E S ) 10 so so so so s o so so so so PA Y - A S - Y O I J . 4 0 FU N D S tc m ' OF SA N JI. I A N CA I ' I S ' I 1 I N I O 0T M E R cn v FA C I U T l E S J 10 so so 10 so so so s o so so RB I A I N I N G P A Y - A S - Y O U - O O F \ N l S TO C U S O ~ ~ IZ Z 1 , 7 0 4 $2 2 5 , 1 1 1 ~ ~ ~ ~ ~ 82ol7.111 NE T - O I ! I I T I I S M C E $1 , 1 1 7 , 2 3 1 1 SI . I U . I I a $1 , 1 1 0 , 1 & 1 11 . - . . a J S1 . N 7 , 1 1 M U.D O S . 3 7 7 sz . - . - S2 . 0 1 7 4 IZ,121,114 a.m.717 Cl. U A A l l i i E B O N D P R O C E I ! I I 5 I P A Y - A S - ' 1 0 1 1 - 4 0 F O f t 11 . 0 0 0 . 0 0 0 11 . 0 0 0 . 0 0 0 11 . 0 0 0 . 0 0 0 11 . 0 0 0 . 0 0 0 16 , 0 0 0 . 0 0 0 11 . 0 0 1 1 . 0 0 0 11 . 0 0 0 . 0 0 0 1& , 0 0 0 . 0 0 0 11.000.000 $1,000,000 IH C R E I I E N T A I . PA Y I I E H T OF PU I C H A S E PR I C E RE : SJ H I I i S I S i l £ - SU I P W S / I I l E f l C I so so so so 10 so 10 so so so CU i o t l A / I l l i i E SI J R I ' I . U S I \ t l E I 1 ) so so so so so 10 so so so so -~ S E k l J C ' E J ' J : H E D I . A E A J S ( A t D U A I C H I A \ ' D ~ II O I D I ' A r i J F A T S - CU S O CF D No . 20 0 5 - 1 (W I I s p e r i n g Hil l s ) : 54 Or a l \ - Un a u d i t e d Pege7 FI 8 C A YI1 A I I · C O I J . . E C ' I 1 0 N a. TA X E S 2U 1 4 2 ~ 2G U 4 C 2N W I - ~ 20 1 7 - M ~ -:IMI-41 CA 1 . B 1 1 1 A R YI1 A I I • PA ' N S I T I T O - HO L D E R S 211 3 2 20 » - - 211 1 3 1 1 20 1 7 - --.,.1 y Al i E B A G E AN N U A L SP E C I A L TA J [ UN I I E I I a . O I ' E D ~. P E R A C I I E s.o s.o s.o s.o s.o s.o s.o s.o s.o s.o -. - - n A L ~ . P E R A C R E so so 10 so so so so so 10 10 RE I I D £ N T I A L P R O P E R 1 Y , P E R U N I T ClA S S I CU S 1 0 i o l HO W e S ~- 12 1 , 0 7 1 $2 1 , 4 1 2 S2 1 , l l 2 2 12 2 . 3 & 1 12 2 . 8 0 8 S2 ' J . a - t S2 ' J . 7 2 t S2o0.20A 124,188 CU \ S $ 2 RE S I D E H 1 1 A I . (> 4,1 1 1 1 0 SF ) $1 2 . 7 8 7 $1 3 , 0 4 2 $1 3 , 3 0 : 1 $1 3 , & a $1 3 , 1 1 4 1 $1 4 , 1 1 7 $1 4 , 4 0 0 $1 4 , 1 8 8 $14.982 115.281 Cl A 8 8 3 RE S I D B f l l A i . ~,3 0 1 - 4,1 1 1 1 0 SF ) $1 1 , 6 7 2 $1 1 , 1 1 0 8 $1 2 . 1 4 4 $1 2 . 3 1 & $1 2 , 8 3 4 11 2 , 8 8 7 S1 S , 1 4 5 11 3 , 0 0 1 1 $13.171 S1UG CU \ S $ 4 RE S I D E H 1 1 A I . (3 . 1 0 1 -oa o SF ) 11 1 . 3 5 0 $1 1 , 5 7 7 $1 1 , 1 0 1 1 $1 2 . 1 1 4 $ 11 2 . 2 8 6 11 2 . 5 3 2 $1 2 . 7 1 1 2 $1 3 , 0 3 & 11U98 $13,1565 Cl A 8 8 5 RE S I I ) I ! N T I A L (3 . 1 ' 0 1 - uo o SF ) 11 0 . 5 5 7 I1 0 , ' W $1 0 , 1 1 1 4 11 1 . 2 0 C $1 1 , 4 2 1 1 11 1 , 1 6 1 1 11 1 , 1 8 9 11 2 . 1 2 7 112.370 112.617 ClA S S I Rll S i t J E N 1 ' W . (3 . 4 0 1 - 3,7 0 0 SF ) $1 0 , 3 7 4 11 0 . 5 8 1 $1 0 , 7 1 1 3 $1 1 . 1 1 0 1 1 $1 1 . 2 2 1 $1 1 , 4 5 3 11 1 . 1 1 2 $1 1 , 1 1 6 112.154 $12.397 CU \ S $ 7 Rll S I D E N 1 ' W . I U 0 1 - 3,4 0 0 SF ) ... . 11 1 1 . 0 8 6 11 0 . » 7 11 0 , 4 7 2 11 0 . 1 8 2 $1 D , 8 1 5 11 1 , 1 1 3 $1 1 , 3 3 5 111.1&l $11,7113 ClA S S I ~( a 2 . 1 1 0 0 S F ) $9 , 1 7 9 11 . 3 6 2 11 . 5 4 9 11 . 7 4 0 11 . 9 3 6 $1 0 , 1 3 4 11 0 , 3 3 7 $1 0 . 5 4 3 110,754 $10,16!1 \II MA X J M U M S£ E Q A L TA X E S II N I I I M l . C I P E D PR O P E R 1 Y «SS l «S S l «S S l (S O ) (S O ) «SS l (S O ) f$0) (SO) «SSl ~ P R O P E R l Y so 10 10 so so so so 10 10 so RE J i l i i ! N I I A L P I I O I ' E R T ' t ' CU \ S $ 1 CU S T O I I - $3 0 9 , 1 1 6 6 13 1 6 . 1 1 6 : 1 13 2 2 . 3 1 1 4 13 2 8 . 8 3 1 13 3 5 . 0 0 1 1 13 4 2 . 1 1 6 13 4 1 , 1 5 8 SS M . 8 3 8 ---1370,317 Cl A 8 8 2 RE S I I I E N T W . (> 4,6 0 1 1 SF ) $1 4 0 , 0 1 3 11 4 3 , 4 6 1 11 4 6 , 3 3 1 $1 4 9 ~ 11 5 2 . 2 4 6 $1 5 6 , 2 1 2 $1 5 6 , 3 9 6 $1 8 1 , 1 6 6 $1114,791 I156,11N CI A S 8 3 RE ! I I D E N T 1 A L (4 , 3 0 1 -4 , 6 0 0 SF ) 13 5 0 . 1 6 2 13 5 7 , 1 6 5 13 1 1 4 , 3 0 6 13 7 1 , M 5 13 7 9 , 0 2 7 131 1 1 . 1 1 0 7 -- . - $C Q Z . 2 2 I 1410.271 1411,478 CI . A S 8 4 Rll S i t J E N 1 ' W . (3 . 1 0 1 - 4. 3 0 0 SF ) S1 3 6 . 2 1 M S1 3 8 , 1 2 l 1 11 4 1 , 7 0 7 $1 4 4 , 5 4 1 $1 4 7 , 4 3 2 11 5 1 1 . 3 8 0 11 5 3 . 3 8 8 $1 5 8 , 4 5 6 $151,585 $112,771 CU \ S $ 5 RllS i t J E N 1 ' W . (3 . 7 0 1 - 3, 1 0 0 SF ) $2 1 & , 1 ) 5 2 $2 1 0 , 7 5 3 S21 1 6 . 5 1 1 S $3 0 2 , 5 0 0 $3 0 1 , 5 5 0 $3 1 4 , 7 2 1 $1 2 1 , 0 1 6 $1 2 7 , 4 3 $ $3»,114 1340.1114 Cl A S S I Re8 I D E I I T I A I . (3 . 4 0 1 - 3, 7 0 0 SF ) $2 0 7 , 4 7 . 1 12 1 1 . 6 2 2 12 1 6 . 1 & 6 12 2 1 1 . 1 7 2 12 2 4 . 5 7 5 S2 2 U 6 7 S2 3 3 , 8 4 l l 12 3 8 . 3 2 1 $243,0111 $247,1149 CI . A S 8 7 RE S I I l E N T I A I . (2 . 1 1 0 1 - 3, 4 0 0 SF ) I2 I 6 , U 4 2 S3 0 1 . t & 3 $3 0 1 , 0 0 2 $3 1 4 . 1 6 2 $1 2 0 , 4 4 5 13 2 1 . 8 5 4 13 3 3 . 3 8 1 $3 4 0 , 0 5 9 $346,8110 1353,797 CU \ S $ 8 RE S I I l E N T I A I . , .. . 2, 1 0 0 SF ) 18 1 , 7 5 8 $9 3 , 6 2 2 -- m. - 18 1 1 . 3 5 2 $1 0 1 . » 9 $1 0 3 , 3 6 6 $1 0 5 , 4 3 4 $107,1142 S101.m - - - OJ TO T A L II A l O M U I I SP E Q A b TA X E S $1 , 1 ! 7 , 2 3 8 $1 , 1 1 3 , 8 8 2 $1 , 1 1 0 . 1 1 1 4 S1 , 1 2 1 , A 5 7 11 , 1 1 1 7 , 0 3 1 I.Z . O G I , 3 7 7 IZ . C * . t o S SU 1 7 , 4 3 1 $3,121,114 $3,171,717 I 00 \I l l DE l l i !1 E R V J C E CQ Y E R A G E GR O S 5 !lE 8 T liE I M C E C< M : R A G £ fR O M 1S T BO N ! ) AN D 70 II N I ' T S " 11 3 . 2 7 % 11 3 ~ 11 3 . 2 N 11 3 . 2 7 % 11 3 . 2 7 % 11 3 . 2 N 11 3 . 2 7 % 11 3 . 2 7 % 113.27% 113.27% GR O S 5 1 l e 8 T SE I M C E C O V S I A G E • 110 . 1 1 4 ~ 11 0 . 1 1 4 % 110 . 1 1 4 ~ 110 . 1 1 4 ~ 110 . 1 1 4 ~ 110 . 1 1 4 ~ 110 . 1 1 4 ~ 1 1 0 . - 110.114~ 110.114% NE T DE 8 T 1iE 1 M C E CO I I E R A G E - 11 3 . - 11 3 . s n . 11 3 . 1 1 2 ! 1 1 1 3 . - 11 3 . 4 0 ~ 11 3 ~ 1 1 3 . - 11 3 ~ 113.1W 113.1q • ALU ' l l l U I » S : : / M . T A I D ' L D S C 7 D N W I N l S ' / 1 t 4 T I O N . l ' l t i F t n i D t t r r . - 1 V n a r s a J ~ P C K -u . t . m 4 W S I ' £ t L 1 t . T A l E S I D S C F D ~ n o . v n u s M U J U 7 : ~ a l ' f l l f l n a r Q I I Q S S ' O G r a J S 7 a ' CU S O CF D No . 20 0 5 - 1 (W h l s p e r i n g Hi l l s ) : 54 On l f t • Un a u d l l e d Page8 Fll i C A I . YE A R · c: o c . . u : c : t l O N OF TA X E S 20 C 1 ~ - 204 . J . 4 o & - - ~ 7 10 T A L CA I J ! J f D A R YE A R . PA Y I I I i N T 8 1 0 110 1 « 1 H0 U 1 E A S - - - - - 20 4 7 L CF Q BO N D E D IN P E m P N e s s cu s o OT H E R FA C I ! . I T I E S so so so so so so 54 . 1 2 : : ! . 5 8 5 IN C R E M e N T A L PA ' n ! E N f OF P\ J R a W ; E MI C E RE : &J H I H S I S I T E so so so so so so S$ . 2 1 6 . 1 3 2 CIT Y OF SA N .~~ J A N CA I ' I S T R A H o PU 1 1 J C FA C I U T l E S & FE E S so so so so so so 54 . 7 9 1 , 2 1 3 OT H E R CIT Y FA C I U T 1 E 8 so so so so so so ~ TO T A L F1 N A N C e D PU I I U C FA C I U T 1 E 5 so so so so so so $1 5 M 3 . S C S TO T A L 80 N O E D IN i l E B 1 a l N E s S so so 10 10 so so $2 0 , 0 5 5 , 0 0 0 U AII & O R P T I O N • fS I I I . I l l l ! l l l i £f B I I I I D Il l !! I Jl l J • UliD E V I l L D P I ! D PR O P E R T Y RB I H N I I I G U N D E I I S . O P E D ~ (0 . 0 ) (0 . 0 ) (0 . 0 ) (0 . 0 ) 0.0 0. 0 NA DE V B . O I ' £ D ~ P R O P E R r Y CIA I I A . A T I I I E NO N - R e s i D E N T I A L ~ 0. 0 0. 0 0. 0 0.0 0.0 0. 0 NA DE Y E U I I ' I ! D RE I I I D E i m A L PR O P E R r Y aA S S 1 CU S T O M HO M E S 15 15 15 15 15 15 NA aA S S 2 RE S I D E N T W . ( > 4.1 1 0 0 SF ) 11 11 11 11 11 11 NA QA S S 3 RE S I D E N T W . !1 . 3 0 1 • 4.& 0 0 SF ) 30 30 30 30 30 30 NA aA S S 4 RE S I D E N T W . ( 3 . 1 0 1 · 4 . 3 0 0 S F ) 12 12 12 12 12 12 NA aA S S 5 RE S I D E N T W . (3 . 1 0 1 • u o o SF ) 27 27 27 27 27 27 NA aA S S e RE S I D E N T W . (3 . 4 0 1 • uo o SF ) 20 20 20 20 20 20 NA ClA S S 7 RE S I D E N T W . (2 . 1 0 1 • 3, 4 0 0 SF ) 30 30 30 30 so 30 NA aA S S 8 RE S I D E N T I A l . (< o 2.1 0 0 SF ) _ _ 1_0 _ _ _ 1_o _ _ _ 1_o _ _ _ 1_o _ _ _ 1_0 _ _ _ 1_ o NA CI . I I I U l . A T I I I E RE S I D E N T W . UN I T S 15 5 15 5 15 5 15 5 15 5 15 5 NA ·o . . a . . . _ .. . . . . . . . . . . . . . . . . - .. . . . . . . . . . . . . . OJ I W. ME U . Q . B O O S SP E C ! I ! L IA X E 5 1.0 IJ N I I E \ I B . C I P E D I'I I O I ' E i m ' 8P E C I A L TA X E S so so so so so so so -~ P R O P B n Y I I P E C I A L TA X E S so so so so so so so - P R O P E R T T 8P E C I A L TA X E S Cl A S S 1 CU S I O I I HO M E S 13 7 7 . ~ 13 8 5 . 2 7 8 $2 7 0 , 1 1 1 1 1 s.I O O . I M 3 -. . e o $1 8 7 . 1 & 8 S8 . 4 1 1 2 3 4 CI . A S S 2 RE S I D E N T I A l . ( > 4.1 1 1 1 0 SF ) $1 7 1 . 4 5 5 $1 7 4 . 1 1 1 1 5 11 2 2 . 1 8 f 11 8 1 . 1 1 5 0 11 8 U I I e se t . 4 1 M 54 . 4 1 1 . 8 2 0 Cl A S S 3 RE S I D E N T I A l . lf . 3 0 1 · 4.1 1 1 1 0 SF ) ... . . . . . . Sf3 6 . 3 8 3 13 0 1 1 . 1 2 5 s. l $ 2 . f 7 2 Sf 8 2 . 0 3 2 12 2 2 . 7 W S1 0 . l l l ' U 1 1 Cl A S S 4 RE S I D E N T W . (3 . 1 0 1 - 4.3 0 0 SF ) $1 8 8 . 0 3 2 11 8 1 1 , 3 5 3 $1 1 1 . 0 7 5 S1 1 8 , 1 1 M 11 7 1 . 7 1 8 se e . e a 54 . 2 1 1 1 . 1 2 2 CV . S S 5 RE S I D E N 1 \ A L (3 . 7 0 1 - 3.1 0 0 SF ) 13 4 7 .. 77 13 5 4 . . V S2 A 9 . 2 0 3 13 1 1 1 . 7 4 5 13 1 & , 1 2 0 $1 1 1 . 3 7 2 18 , 1 1 3 2 . 1 5 4 C:V . S S & RE S I D E N 1 \ A L ( 3 , 4 1 1 1 - 3 . 7 0 0 S F ) S2 5 2 . I O e SZ 6 7 . 1 6 6 $1 8 1 . 3 1 0 -- $2 7 3 . 7 1 1 6 $1 3 2 . 0 1 0 S& . 1 2 2 . 1 7 1 aA S S 7 - 12 . 1 0 1 · 3.4 D D S F ) 13 1 1 0 . 1 7 3 13 6 1 . 0 1 1 S2 5 1 1 . 8 1 1 13 1 2 . 1 6 2 13 1 0 . & 2 1 $1 8 8 . 3 6 4 18 , : 1 6 2 . 1 1 1 7 Cl A S S I RE S I D E N T W . ( < o 2 . 1 0 0 S F ) $1 1 1 . 8 8 7 $1 1 4 . 1 2 5 $8 0 . 2 4 3 $1 1 1 , 7 3 5 $1 2 1 , 1 1 0 55 8 . 4 1 1 1 $2 . 1 1 2 8 . 7 3 4 TO T A L B P E C I A L TA X E S tu 1 1 . 2 0 3 S2 , 2 5 t . I 0 7 S1 . 1 8 8 . H 7 A. J I 0 . 7 1 1 $U I 7 , 1 0 6 S1 , 1 5 1 . 2 U $5 7 , 1 1 1 1 1 1 , 1 4 4 IV 'P f 9 A 1 TA X Bf Q U I B f M E H I NE W IID N D E D IN D E S T E D N I ! & & so so (1 7 , 1 & 0 . 0 0 0 ) 10 so ($ 1 2 . 1 1 5 . 0 0 0 ) $2 0 . 0 5 5 . 0 0 0 N£ W AE & E R V E F U H D so 10 ~ 10 10 ~ 12 . 0 0 5 . 5 0 0 AN N I . W . D E B T SE 1 M C E ·S E R I E S A 17 1 2 . 5 8 8 $7 2 8 . 8 1 1 17 . , . 3 5 8 10 10 10 $1 1 . 1 1 1 . 7 3 2 AN N I . W . D E B T SE I M C E ·S E R I E S 8 S1 . 2 0 U O O $1 . 2 1 3 . < 1 8 1 $1 . 2 5 8 . 1 5 8 $1 , 2 1 3 , 3 1 8 $1 . 3 0 8 . 1 1 5 SU M . 1 8 5 13 1 , 0 4 5 . 4 1 0 AN N I . W . GR O S S DE B T SE R I I I C E $1 . 1 2 1 . 1 1 1 $1 . 1 1 1 0 . 3 0 5 SU i l i U 1 1 $1 . 2 8 3 . 3 1 1 1 su o e . l l 5 $1 , 1 3 5 , 1 6 5 $4 7 , 1 1 7 . 2 2 2 CI' D AO I I l N I S 1 R A l 1 0 N sa e . m SI 0 . 5 U S1 l 2 . 3 7 l SIM . 2 2 7 Sl l . 1 1 2 $1 1 , 0 3 4 12 . - . 7 2 4 RE 8 e R I I E f1 . M ) IN I E R E S T Il l " DE I J N O U E N C Y ) 15 4 7 . 1 2 1 ) ($ 4 7 . 1 2 1 ) ($ 4 7 , 1 2 1 ) ($ 3 0 . 3 0 3 ) ($ 3 0 . 3 0 3 ) ($ 3 0 . 1 0 3 ) ($ 1 . s l e . < l 4 5 ) CA P I T A L I Z E D 1N 1 i R I I S T 10 10 10 so so s o ($ 1 . 2 D U O O I PA Y . , . . _ Y O I J . G O FU N D S (IM C R E i o t C N T A L PA Y M E N T OF PU R C H A S E PR I C E RE : SJ H / H S I S I ' I e j 10 10 10 10 so s o S7 0 3 . I I 1 I PA Y . , . . _ Y O I J . G O FU N D & (C I T Y OF SA N NN I CA P 1 S T I W I O PI J l i U C FA C I I J T J & & N€ J FE E S ) so 10 10 so so so 17 2 2 . 2 0 5 PA Y . , . . _ v o u . G O FU N D S (C I T Y OF SA N NN 1 CA P 1 S T I W I O 01 l E R CIT Y FA C I U T I E S ) 10 so 10 10 10 so Sll . 4 l 3 -P I O . Y . . . S . v o u . G O F I H l S TO C U & D ~ ~ ~ ~ ~ ~ ~ NE T -l l E B T I I E I M C E tu 1 1 . 2 G 3 S2 , 2 h . 1 I 0 7 11 . 1 8 8 . H 7 A. J I 0 . 7 9 1 $U I 7 , 1 0 6 l1 . t 5 1 . 2 U sn . - . - CI. U U I . A T " M ! BO N D PR O C E E D S I P A Y - M - Y Q U . G O FO R 11 . 1 1 0 0 . 0 0 0 18 . 0 0 0 . 0 0 0 18 . o o o . o o o 18 . 0 0 0 . 0 0 0 18 . o o o . o o o 16 . 0 0 0 . 0 0 0 NA IH C R E I I E N T A I . PA \ ' I I E N T O F PU I C H A S E PR I C E R1 ! : ~ - SU R P 1 . . I J & I I I l E 10 so 10 so so so NA Cl. l o i \ M T " M ! II U l P U I & I { D E F I C 10 10 so 10 so so NA -u a t S O t U C l " J J : ' I I E D U I . E A f S V J # I ; S I Q I I C ' I I I .( \ I D , W T D O D I/J I / ' I N I ) I ' A J l # F 1 1 1 ' : $ - CU S O CF D Na . :Z O O S . 1 (W h i s p e r i n g Hil l s ) : 54 Dn l l l - Un a u d i l e d Page9 F1 8 C A L 'W I A R - C O U E C l i O N Of ' TA I I E S 2D t 1 - 4 2 :z o Q . Q - - - - TO T A L CA L E I I I I A i t 'W E A R - P4 V I I a i 1 S TO BO N D H O U I E R S - 20 a - - - 2D t 7 lt A\I E R A G E AN H I J A L Sp g c ! A b TA l ( UI I D E V E l . O I ' S I - . : R I Y , P E R A C I E s.o s.o s.o s.o s.o Il l NA ~P I I O P E R T Y , P E R A C R £ Il l Il l Il l Il l sa Il l NA AI! S I O a i 1 W . . PI I O I ' E i m ' , P! R UN I T ~ ~ CU 8 T O I I HO M E S $2 5 , 1 8 2 12 5 , 1 1 1 5 11 8 . 1 1 6 0 12 5 , 7 Z I $Z I , : a 7 11 3 . 1 4 4 NA ~ 2 RE S I D B I T W . (> 4,1 0 0 SF ) $1 5 . 5 8 7 $1 & . 1 1 1 9 11 1 . 1 7 1 1 11 6 , 1 4 1 $1 8 , 8 7 2 18 . 1 1 8 NA ~ 3 RE S I D B I T W . (4 . 3 0 1 - 4.e o o SF ) $1 4 . 2 2 1 11 4 , 5 1 3 11 G , 2 0 4 $1 & , 0 8 9 11 5 , 4 0 1 17 , 4 7 1 NA C ~ 4 RE S I D B I T W . (: 1 , 9 0 1 - 4,3 0 0 SF ) 11 3 . 8 1 8 11 4 . 1 1 3 11 1 , 8 2 3 11 4 , 1 1 8 3 11 4 . 1 1 7 17 . 2 2 2 NA ~ ~ RE S I D B I T W . (3 . 7 0 1 -:u o o SF ) 11 2 . 1 7 0 11 3 . 1 % 7 11 1 . 2 3 0 11 3 , 1 1 1 7 $1 3 . 1 1 3 0 18 , 7 1 7 No\ ~ 8 RE S I D B I T W . (3 . 4 0 1 -3.7 0 0 SF ! 11 2 , 8 4 5 11 2 . 8 1 8 11 1 . o e e 11 3 , 4 1 8 11 3 . 8 8 8 18 . t O O NA ~ 7 RP I D E N I ' W . (2 . I I O f -3.4 0 0 SF ) 11 2 . 0 2 8 11 2 . % 7 0 18 . 8 % 7 11 2 . 7 8 5 11 3 . 0 2 1 18 . 2 7 1 1 NA ~ 8 RE S I D B I T W . (< o 2. 1 0 0 SF ) 11 1 , 1 8 1 1 11 1 . 4 1 2 18 . 1 1 2 4 11 1 . 8 7 4 11 2 . 1 1 1 IU 4 0 NA Ill MAX I M U M Sf J E Q A I IA X E $ III I I I ! V E U I P E D PR O P E R T Y ($ 0 1 (S O ) ($ 0 1 ($ 0 1 ($ 0 1 Il l 17 , 5 4 8 , 4 8 9 ~ P R O P E R T T Il l so so sa Il l Il l Il l AI 5 S I D E N 1 W . I ' I I O I ' E R 1 Y ~ ~ CU 8 T O I I HO M E S A7 7 . 7 2 4 SS I S . % 7 8 13 1 2 . 1 1 8 4 S4 0 0 , 8 4 3 14 0 8 . 8 8 0 $4 1 7 . 0 1 8 18 . 7 5 7 . 2 0 1 ~ 2 II E I I D E N T W . . ( > 4 . & 0 D S F ) 11 7 1 . 4 6 & 11 7 4 , 8 8 5 Sf i U 8 2 11 8 1 , 1 1 5 0 11 1 5 . 5 8 1 1 11 8 8 . 3 0 1 S4 , 1 1 & 7 . 1 l " ~ 3 II E I I D E N T W . . ( 4 , 3 0 1 - 4 , 6 0 0 S F ) S4 2 5 , M I 14 3 $ , 1 8 3 -. 0 1 0 S4 5 U 7 2 S4 I I 2 . 0 3 2 sm m 11 1 . 3 8 2 . 0 5 0 ~ 4 RE S I I I E N T W . ( 3 . 8 0 1 - 4. 3 0 D S F ) 11 1 & . 0 3 2 11 1 1 1 1 , 3 5 3 $1 7 2 . 7 4 0 11 7 8 . 1 N 11 7 1 1 , 7 1 8 11 8 : 1 , 3 1 3 $4 , 4 1 1 . 4 3 7 ~· RE S I I I E N T W . (3 , 7 0 1 - ua o SF ) 13 4 7 . 4 7 7 S3 5 4 . C 2 7 $3 8 1 . 5 1 1 S3 e e , 7 4 5 $3 7 1 1 . 1 2 0 13 8 3 . 8 4 3 $8 . 3 4 8 . 7 3 8 ~ 8 RE S I D I ! N 1 1 A l . (3 , 4 0 1 - 3. 7 0 0 SF ) 12 5 2 , 8 0 1 125 7 . 1 1 1 1 1 1 1 $2 8 3 . 1 2 1 1 S2 I S U A $Z 1 3 . 7 5 8 $2 7 1 1 . 2 3 1 18 . 1 5 1 . 1 1 3 7 a. - S 6 7 RE S I D I ! N 1 1 A l . CU 0 1 - 3. 4 0 0 SF ) S3 l i O . I 7 3 S3 6 8 , 0 8 1 13 7 1 . 4 5 3 DI Z . I I I I 2 13 8 0 . 8 2 1 13 1 1 . 4 1 3 S8 . 8 8 1 1 , 7 0 8 ~· RE S I I I E N T W . ~ 2.! 1 0 0 SF ) 11 1 1 , 8 1 7 11 1 4 , 1 2 1 11 1 8 , 4 0 7 11 1 1 , 7 3 5 11 2 1 . 1 1 0 11 2 3 . 1 3 2 13 . 0 2 8 . 0 2 1 OJ - - - - - - -- - - - - - - - I TO T A L M A X I M U M I P I ! C W . TA I I E S $2 , J t 5 , 2 0 J 12 . 2 5 1 1 , 1 0 7 I2 . S 0 4 . H 7 u. a o . m u. m . - SZ M S , J N sa e . e a . m f- l o 0 l/J l Dg B T SE B l i J C E co v g B A G f GR O I S DE B T &E R I I I C E CO ' w e i i i G E FR O M 1S T BO N D AN D 70 UN I T S " 11 3 . 2 7 % 11 3 2 7 " 11 3 ~ NA NA NA No \ GR O I S D E B T SE R V I C E CO V E R A G E • 11 0 . 8 4 " ' 11 0 . 1 1 4 " ' 1 1 ~ 17 1 . 1 1 4 ' A 17 1 . 1 4 " ' 17 1 . 8 4 " ' No \ NE T DE B T &E R I I I C E CO I I E R A G E - 11 3 . 1 ~ 1 1 3 . - 1 1 3 - ~ ~ 17 1 . 1 " " 17 1 . 1 1 " No \ • .w . u : u . u t J 1 ' E Q N . T A I & f l D S C I ' D A t a f l m m t A 7 1 t . w . D 1 1 1 1 ' 1 m i i T G I W m l D 7 J I J D ' I C B - u, t J D A & f J r i O M . T A I D U : S S C I I D ~ I U l f ~£ A i b o ' I M 1 DR ' U l l l l a r QID S S ' DG ' r S P D ' I C E OJ I 1- " ' 1- " ' T.o \ X liP R E A D : 54 OD A I I I ! J TA U S S I G AN D AS S O C 1 A 1 E $ , 1 N C . 01 . . . . , . 1 1 GU 6 J I N PR O P O S E D SP E C I A L TA X E S AN D BO N D E D IN D E B T E D N E S S CO A I M U N I T V FA C I L m £ 5 DI S T R I C I ' NO . l O Q S . I (W I I J 5 P E I U l ' I C lU L L S ) CA P I S T R A N O I1 N I F I £ D SC H O O L DI S T R I C I ' (:Z . O % la . . . . . . . . U . a Dd J t Se m a e a a c l Sp < c W T . . al .DRAFT llc m d .. . . _ . . . , . •a d hy . . . U . V o o . C o o p l i l t i 0 1 4 0 1 o CU S D oa d Ch y . FD D d i i > C f t l l l t D t a l l'o 7 m a t of I' l l ~ Pr i c e rr . SJ H I H S I 5 i t e li n t ap t o S 6 m i l l l e a . wm • ! M U M ! ! I I M IIU 1 D C U I ' PB I O D f \ ' E I I I I S , _ 20 1 1 1 1 > ! mre a BfW J J f ! f J M I llM I J YJ CL A S S 1 CU S i t i M HO l E S CI A I I I 2 -t > • . t 0 0 8 1 ' l CI A S I I 3 - - ·• . 1 1 0 0 8 1 ' ) CL A S S • RE I I D E N I V I L I U 0 1 · •.3 D O SF ! CI A S S 5 -P , 1 1 1 1 · S , I I 0 0 8 1 ' ) CI A A S -1 3 . 4 0 1 · 3 . 1 1 1 0 8 1 ' ) C\1 1 $ $ 7 AU I I I E N n o L 12 . 1 0 1 · 3, . . , . 81 ' ) CI A S S I -( < a 2 . 1 1 0 0 & F ) ~ . . . . . - .I C I I I ! M i i ! - GA O S S - - . . . . e ( 1 J M" X V f D t ' ! I = U J P B p P R D y p e e g e lE T T ~ 1'1 CU S i t i M I. D r N & T TA M i l £ ACR E A G E 1<1 AIL 0 1 H ! I I R E S I C E H I W . P R O I ' E I I T Y I I J ft G I N _ W Q W ClA S S 1 CU 5 1 0 1 1 HO M E S CU S S 2 1 0 E S D E H I 1 o t l . ( > o l , e o o 8 1 ' ) CU I S $ 3 -- ( o 0 . 3 0 1 · o l . t i O O & F ) Q.A I I 1 l • I I E J I I l E H I W . P . 1 0 1 1 · • . 3 0 0 8 1 ' ) CI A O S I IO E S D E H I 1 o t l . ( 3 , 7 0 1 · 3 , 1 0 1 0 8 1 ' ) CI A I I I I -C E H I I A L . P , « < 1 ·3 . 7 0 0 & F l CL A S S 1 RE S I D E H T W . cz . • n . J, C I ) s:J CL A S S I AES r D E H T I A L 1- :2 . . 8 » IF ) -ET . R _ _ r- . _ (J J , . _ c n a l f i . - M P , D c N o . ,_ , . , P l - .. - - - - ll l .. 11 30 12 27 30 3D 10 ... 31 0 . 3 1 2a a ... 11 5 5 4.2 1 1 , . , _ .. _ _ ., .. . . _ _ :n r n o o., w . , . __ DI' F G /f l _ _ _ _ .,O I ' F 6 f : l ' 1 1 V f 1 J /1 1 E f R _ .. _ _ _ Ch y . - i v a 40 % ol b o a d -- ' " l a s _ , . . . . . . . , . tl m > a P .. . , . . . . . . , . . , . . . . . , . A - a on r - a a e -p o a of i . O O % Il l bo a d to l d .. - · of1 1 1 1 b a.U t o a d - 00 co v e r a r ,. , . _ mi u i m a m of 7 0 pc r m m . . l ua i t s II Q M I W! W " ' " ' .. _C C U ' O N II O O I ) l t ; R i i l ~ CO S I ' S t# IS S I J ' H C E I DIS C O U i l T RE S E R V e FU N D CA I ' I T O U Z E D IN i l ! R E S T 11 2 1 o 1 0 N l l i S J gn n ep • m m -I N 1 U E . S T R A 1 E DIS C C U N T RA l E FO R -N W . Y 8 1 1 1 I'I I O P £ R T Y IH F V o ' I K I N RA l E AD I I I > O S I R A T I C N E X I ' E N I E I N F I A 1 1 C N R A l E . ap r g e t w '" " " " " " ' f ! M ! 1 : J M Z ! De i E I . O I ' E D I!O I . I V A L E N T DW E I . . U H C I LJN f T - / I C R E UIC l E \ ' & I . o o e D / I C R E -·-30 ... . . ... . . . . 7.8 1 % lA C K U' TA l < PE R RE S I D E H I I A l A C R £ (E J a ; l . W U 0J S T 0 M lO T S CU S T O M LO T BA a < U' TA l < PE R lO T "'s P E e i A L TA A M: I I & A S E PR J C R 10 8U J l O I N G Pe R M I T "'S P f . C L \ 1 . T A l < - - o\F T E R 11U 1 U 1 1 N 1 i - Yt lE V Y C:W III J a i A J M TA X .K m V I I l l ... . . . 30 ... . . 1~ - 7.8 2 0 0 2 . - ... . . . 2 .. . . . 2. .. . . ... . $2 1 , 4 8 5 S2 1 , 4 8 5 S2 1 , 4 8 5 S1 J , I Q 2 2 - 2 .. . . ·- ... , , MII I M U M SU M M A R V O F T A X C O M P U T A T I O N S I'A O J E C t a l e t ' E Q A L T" ' ' l BA H " " R i f l l1 , e D D . G D D 11 , 1 1 6 , 0 0 0 .. _ -- SC I - ---·--- to r A L II O I I D I D N I U C I I I & D f t e A O tq T M 15 M l f ' M ' F ' 9 f e p \ 1D f J (F I I C I I I . \ ' ! A R . . . , I a l : l l .I E U i l a l . . l M m . mT f j r r a r:p SO 1 1 . - I.D I I m < so - · - 10 OC D I D ' W a 1.0 5 ) 1 1 % JD o.a a c a c . 1_. , . , . 10 O.O ( ) O C N 1.C I 5 3 1 J " 10 a CIX I I " K 1 CJ 5 3 I % so .. . . . . . . 1.0 5 3 7 1 < ., 0 . ~ 1.0 ! 5 : 1 f t CU I O on t ! l l FJ i a U I I U CU I D - P A - O F P I I R C I I U £ P A I C E R E : t . . I W K S I I I T ! ) aT Y O F - . I U I W C N W n i M O PI I I I U C F - . n ! U - RI ! S CI I Y C # - . I U I W ~ o n t ! l l a T Y F A a U I I U MA J O R c:o N C U J S I O N S IIU I D . O O O IS l A I I I I -.. . _ ... . . . . . . . Ma . T 3 1 1 TO T M . D E 8 1 ' R J I I I I ( ; E & _ . . . . , . . . 1 1 0 0 1 S I 7 - PA T _ _ _ _ _ A l P A ' I I I I ! N I ' C # P I I A C H i o S E P A I C E ~ ~ S7 0 1 . J 6 1 -P A T - . - F U I I D S T D C U I O ti i . I M , t a I' A Y - - F U I I D S - a T Y O F - J U N I C I I N T I W I O P U 8 U C F A Q L m E 8 N I I l F E E 8 11 1 0 . 1 1 0 I'A Y . . A a . Y D I J . O O F U I I D S I ' O R a T Y O F - . N I W C A I ' I 8 T I W I D O I M E R C I I Y F . a a v t 1 e 1 1 - - ~ - cu . = To t A L i t t & i f i ! W t i i t t & .I I I ! I I W . W 11 3 , 1 Q 2 SII , S I $ 17 , 1 5 5 S7- 17 , 1 0 5 • . • 1 .. . . 1 18 . 1 7 7 gn m p " pt e = I J t• • R6 T " ' m -P R O P E R T Y TA > t RA l E &A N JU l i N CN I S T l i A N O CIT Y GO BO N D S lo M I D DE B T IE R ' I I C E CN ' I l l l 1 W I O UN I F I E D SC H O Q . D I S l i i i C T SA O NO 1 IIO S Q I A T O , F I A E N r f - V£ C f D R CO N 1 1 I a L CH O A G E MW D 8 T A N t l 8 ' 1 C I W I G E IR ! I M l i M PD ' J I! ! M G f A M B M ! G I I C S S - ( 1 S T II O N O - . e N I D 70SCX.OUN1Sl GA O S 8 CO I I E I W I E (A T II I M D O I I T ) NE T tiE 8 T SE I I V I C E CO I I E I I A G E GN I D S P e i : I A L T " ' ' I :A ! . Y E A I U I I I I . a o l : l l &I . I . IQ J A I CI R lp 11 . 7 7 2 3 1 0 1 . - 0. 7 7 1 f t 1.1 2 5 0 V . o. m e . . · - a. 7 7 1 f t 1.1 1 2 5 1 M 0.7 7 M ' W t 1 aiO ' l ' 0 7 7 - · · - 0.7 7 1 3 ' 1 . 1..f i : Z 5 0 ' t ' 0.7 7 1 2 ' 1 1 . 1 IIZ 5 0 I ' ··-0_,. ·-0.0110.. -S112 11~01 110onc. no.co. 1t1.Ginf, - . - - - . T - ..,...._,.. -- - l l l t : C W . T - .. -- - T - SO TO T A I L I H d i L Ti l l ! i ur.atW CU S I I - A I . P o l o - O F I ' U 1 0 t i 4 A K I ' I I I I % ~ - - re y . a . y p t m fii N I W fQ R ll! I C j R f l l f t f W pA J M M O f "' 8 Q M ¥ !8ISfJ •· ....... TD 7 o 0 1 . NP V O F - . o o e D S P e i : I A L T A I D ( I I S J NP V C # I ' A Y - Y I J U . G O I ' O R - P A Y I I E N I ' O F ~ P A I C E ~ . . , . _ NP V C # - - I ' A Y - ' I Q U . G O F U I I D S T D C U S I I ( 1 1 1 1 -.IIIILHf -.. -.m -t.CU k . ~ 1 N I I ' I I P O _ ... ...,,D CU S O CF O No . 20 0 5 - 1 (W h i s p e r i n g HiD s ) : 54 Dr a f t • Un a u d i l e d Page2 FI I C I I L YE A R · c: o u s : t J 0 N OF TA X E S 20 1 1 - 1 2 ZO I 2 · 1 l 201 ~ 1 · 20 1 C . 1 S 20 1 5 - 1 1 20 1 6 - 1 7 20 1 7 - 1 1 20 1 1 1 - 1 1 ZOI--.21 C4 I U ! I I D A R YE A R · PA Y I I I S i l $ 10 BO N D 11 0 U 1 E R S 20 1 2 20 1 ~ - 20 1 $ 20 1 1 20 1 7 20 1 1 2011 -2021 I CF Q BO I I Q ! ! P !N D J : m P N E S S -s E P 2 0 1 .. . ". ! A H 2 0 1 7 " cu s o cm E R FA C I ! . I I l E & so so so so so 12 . - . 5 7 8 so so so so II I C R S I S I T A L PA Y U E N r O F ~ P R I C E RE : SJH I H S / S t T " E so so $2 . 4 5 1 , 6 0 4 so so $2 . 8 o t 7 , 0 1 2 so so so so CIT Y OF SN I . A I A H CA P I S T R A N O PU I I U C FA C ! I . I 1 1 E S & FE l i S so 10 $1 , 2 7 1 1 , 1 1 3 3 so so 12 . 0 1 4 . 2 2 7 so so so so cm E R CIT Y FA C I I J T l E & so so ~ so so ~ so so so so TO T A L FIH A N C e D PU I I . I C FA C I L I T I E S so so $3 , 1 0 & , 1 1 0 0 so so $7 , 1 1 1 , Q 2 9 so so so so TO T A L BO N D E D IN l l i ! I I ' I B l N E l $0 so $5 , 3 7 0 , 1 1 0 0 so so S8 , 1 5 0 , 1 1 0 0 so so so so II AR S O R P T I D N ·I I I I L D ! N G PE - I l l i (I I I I I ]I ] I" UH D E W L D P E I I ~ RE I I A ! N I N G U N ! l E ' I E U I P E D ~ 5$ . 2 44 . 8 31 . 7 17 . 0 (0 . 0 ) (D . D) (0 . 0 ) (0.0) (D. D) (D. D) DI M ! I . O P E D ~ I ' R C I I ' E R I Y CI J I I I A A T I Y E NO N - R E & I D E N T l A I . AC R ~ ; A G E 0. 0 0.0 0.0 o.o o. o 0.0 o.o 0.0 0.0 0.0 IIE I I E L C I P E D ! I I ! I I I D e N l i A I . PR O P E R l Y aA S S 1 CU S T O M HO M E S 0 0 0 0 16 15 11 1& 1$ 11 aA S S 2 RE S I D E N T I A L ( > 4.1 1 0 0 SF ) 0 2 5 8 11 11 11 11 11 11 aA S S 3 RE S I D E N T I A L fC . 3 0 1 · 4.8 0 1 1 SF ) 0 6 13 21 30 30 30 JO JO 30 CI. A B S C RE I I I D E H T 1 A L I 3 . 1 1 1 1 . 4. 3 0 0 SF ) 0 2 s 8 12 12 12 12 12 12 aA S S S RE S I D E N T I A I . p . l l l 1 • 3,1 0 0 SF ) 3 8 15 23 27 27 27 27 27 27 aA S S a RE S I D E N T I A I . I 3 . 4 0 1 • 3,7 0 0 SF ) • a 13 18 20 20 20 20 20 20 CI A S S 7 RE S I D E N T I A l . C2. 1 D 1 • 3.4 0 1 1 SF ) 3 I 1& 24 30 30 30 JO 30 30 Cl A S S I RE S I D E N T I A l . ! " " ' 2.1 0 0 SF ) _ _ _ 2 • 6 __ _ , _ _ _ 1_11 _ _ _ 1_o _ _ _ 1_o _ _ _ 1_o ___ 1_o ___ 1_o CU M I U < " ! l \ I E RE l m l E N l " W . U N I T S 12 38 73 11 1 15 $ 15 5 15 $ 155 155 155 ·c : c . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . a. . . .. . . . . . . . . . . . OJ I ~ Ul ME Y , O = B O Q i a p E C W . px e s N II M E V ! i i . O P E I I I ' R C I I ' E R I Y I5 P E C I A L TA X E S so so so so so so so so so so ~ . . - a m " W i r £ W . TA l i E S so so so so so so so so so so !I Q I D I N 1 1 A L P R O P E R T T I I P I I C ! A L TA I I E I I ~ 1 CU S T O M HO M E S so so so so so 52 3 0 . 2 3 " S2 3 o t , 1 3 1 12 3 1 . 5 J & S2M,321 1241.213 aA S S 2 RE S I D E N T I A l . ( > 4.1 1 0 0 SF ) so so $17 , 1 1 1 1 5 $4 5 , & 5 1 $7 4 . 5 1 5 $1 0 4 , ! 1 1 7 11 0 8 , 5 1 1 1 $1 0 8 . 7 2 9 111D.t04 $113.122 ~ 3 ~f C . 3 D 1 - 4 . 6 1 1 D S F ) so so 14 1 . 0 3 4 11 0 1 1 , 3 & 5 $1 7 8 , 5 6 2 UI ! 0 , 1 7 8 S2 1 6 , $ 7 1 1 12 7 D I I f l 7 S278,100 1211,82"3 ~· ~( : 1 . 1 1 1 1 -4 . 3 0 0 S F ) so so $1 1 , 8 1 4 14 0 . 5 3 0 S8 8 , 1 4 1 $1 0 1 . 2 1 1 % 11 1 1 1 , 2 2 1 1 $1 0 5 , 2 9 1 1 $107,31111 $101.544 CI A S S S RE S I D E N T I A l . (3, 1 1 1 1 • 3, 1 0 0 Sf ) so 12 1 . 7 4 1 $5 1 , 1 5 5 11 1 3 , o t l l $17 1 1 . 1 1 1 1 3 12 1 1 , 1 9 8 12 1 8 . 0 3 4 Si2 2 1 1 , 3 5 5 $224,7&2 1221.217 a . - a RE S I D E N T I A I . 1 3 , 4 0 1 • 3,7 0 0 SF ) 10 sa . - $5 8 , 1 0 8 S1 8 . 3 1 0 $1 3 8 , 0 1 1 $1 5 4 , 1 5 5 11 5 7 . 2 3 1 S1 8 0 . 3 8 3 1183.511 $118,11113 ClA I I I I 7 lll ! l i i D E N I W . ( 2 . 1 0 1 · 3, 4 0 0 S F ) 10 12 0 . 3 2 1 tl l 2 . 1 8 3 $1 1 2 , 7 5 8 11 7 2 . 5 2 0 12 1 1 , 1 1 1 1 3 $2 2 4 , 3 8 3 $2 2 1 . 8 5 0 $233,427 S238.ot5 Q. U 8 8 ll l ! l i i D E N I W . ( 0 2 . 1 0 0 S f ) so $1 2 . 1 1 0 1 &2 5 , 7 0 8 $3 8 , 3 3 0 S8 0 . 1 7 5 S8 8 , 1 S 8 -- S7 D , t 5 4 $72.373 m.I20 IO T A 1 . 8 P E C I A L TA X E B so $8 3 , 1 C I 12 1 7 , 1 ( 1 3 -. .. $1 1 1 4 , 1 1 0 11 , J S 0 , 2 3 4 S1 , $ 7 7 . 2 3 f S1 .. . . 78ol S1,432,ITII S1M1,5$7 N SP E C I A L TA J ( BE O U ! B E M E N T NE W IO N D E D IN D E 8 T B l f C E S S so so $1 . 3 7 0 . 0 0 0 so so 11 . 1 5 0 . 0 0 0 so so so so NE W f U l l i E R V E F I H ) so so $$ 3 7 , 0 0 0 so so stt 5 . 0 D D so so $0 $0 NN J A L D E B T SE R I / I C E ·s e R I E S A so so so M2 9 , & 0 0 M2 l , f i O O SG I . I I O O 54 2 9 , 1 0 0 $4 2 9 , 1 0 0 $423,701 1432.175 AI N J A L D E B T SE R I / I C E ·s e R I E S B so so so $0 so 15 3 0 . 1 1 1 7 S7 1 1 , 1 1 0 0 S7 I I , O O O 1718.1100 S7ti.OOO - - - - - - - - - AI N J A L G R D S S D E B T & E R V I C E so $0 $0 S4 2 U O O 542 1 , 1 1 0 1 1 -. 2 1 1 7 $1 , 2 2 5 , 1 1 0 1 1 11 . 2 2 5 . 1 0 0 $1.211.701 $1.2211,175 CF D AD I I J N I S l R A T I C N so 18 0 . 0 0 0 $5 1 . 0 0 0 $5 2 . 0 2 0 $5 3 , 0 8 D $5 4 , 1 2 2 $5 5 , 2 0 4 $5 1 . 3 0 8 157,4$1 $58.583 RE I I I ! R I I E FI M D IH T E R E S T tM i DE I . J N Q I . E N C Y ) so $0 so $0 ($ 1 2 , 1 1 2 0 ) (S 1 2 . 1 2 0 ) (:1 1 2 . 6 2 0 ) ($ 1 2 . 1 2 0 ) ($38.0112) CS38.11112) CA P I T A L I Z B l i H 1 ' E R E S T so $0 $0 (5 4 2 9 J I I I I I ) so ($ 5 3 0 , 1 8 7 ) (S 2 1 1 5 , S S 1 ) $0 $0 so PA Y - ' I O U O O FU N D $ (I I I C R S I E N T A L PA Y U e N T OF PU R O W i e PR I C E RE : ~ so $1 8 . 1 1 1 1 $1 4 2 . 1 7 8 11 3 1 1 2 . 4 1 7 SZ I 8 , 8 6 1 so so so so $0 PA Y - Y O U G O fU N D S (C I T Y Of ' SN I . A I A H CA I ' I S T I W I O PU 8 I . l C FA C I U T i a l AN D FE E S ) so $1 1 , 1 1 1 1 1 1 SII S . 4 1 1 11 7 7 , 4 1 8 $1 3 8 , 1 1 8 S3 o t M I so so so $0 PA Y - Y O U 4 0 FU H D S (C I T Y Of ' SA N .A I N l CA I ' I S T I W I O Cl 1 l 6 CIT Y FA C i l i T I E S ) $0 SU t 1 11 1 . 3 7 4 $2 4 , 1 1 3 $1 1 , 1 4 1 $1 2 . 1 1 8 so $0 so so RE I I A I N I N G PA Y . . . S . Y O I J . G O Rl i D S TO CU I D so $0 $0 ~ so ~ ~ ~ ~ ~ NE T A!O I U A L D E B T I I B M C E so $8 3 , 1 C I 121 7 , 1 1 1 1 3 SI I I , O C I 11 & 4 , 1 f 0 Sf . 3 1 U M S1 . 3 7 7 . J f t 1 1 . . . , _ S1,432,1T11 $1,411,11$7 Cl.U I . A . A T I Y E BO N O PR O C E E D S I P A Y - Y O I J . G O FO R so 11 a . e a e $2 . 8 1 3 , 7 1 0 12 . 1 1 8 , 1 2 7 $3, 1 5 2 . 1 1 1 1 1 1 11 1 . 0 0 0 . 0 0 0 Sll. O O O . O O O 11 1 . 0 0 0 . 0 0 0 111.000.1100 16,1100.000 IN C R E I I E N I ' A L P A Y U E N r O f ' ~ PR J C E RE : SJ H I H S I S I T E - SV A P l U 8 I ( t l i ! F 1 so so so $0 so so so so so so Cl.U I . A . A T I Y E 8U R P l . I J I I / ( I ) e so so so $0 so so $0 $0 $0 so -D E I I T S D f l K l . J i 0 1 £ 1 X t t J \ A . t W I Q U M f ( " / / I A . Y V ~ I J J a i 4 J ' A I M D I T 3 - CU S D CF O No . 20 0 5 - 1 (W h i s p e r i n g Hll l s ) : 54 Dr a f t · Un a u d l 1 e d Page3 FI8 C A L YE A R ·C O U I ! C 1 1 0 N O F T - 20 1 1 · 1 2 20 1 2 - U 201 ~ 1 4 20 1 4 - 1 5 20 1 5 - 1 1 20 1 4 - 1 7 20 1 7 - 1 1 20 1 a . 1 1 201-~ CA L B U M R Y f A R · P A n i S I T S l O - I I O I . D E I U I 20 1 2 20 1 3 10 1 4 20 1 5 20 1 1 20 1 7 20 1 1 201t -:11121 V Al! J ! B A Q E AN N U A L SP E C I A L TA l ( Ulii D E 1 I E I . O P E D PR O P E R T Y , PB t AC R E 50 50 50 50 50 u u u u u -. - s n ' W . P I I O P I ! R T Y , PE R AC R E 50 50 50 50 50 so so 50 50 so RE S I D E N T I A L PR O P E R T Y , PE R UN I T Cl A S S 1 CU S T O M HO M E S 50 50 50 50 50 S1 5 , 3 C t 11 5 . 6 5 e $t5 . 1 J e t S18.2N $1&.114 CI . A $ 8 2 RE 5 I I l E H T I A L (> 4.1 0 0 Sf ) 50 50 S8 . 1 5 3 Sl . 1 3 2 Sl. 3 1 4 $1 . 5 0 1 1U t 1 ,. .... S10.01Z $10.28' CI . A $ 8 3 RE 5 I I l E H T I A L (4 , 3 0 1 • 4. 1 0 0 Sf ) 50 50 S8 . 1 7 2 18 . 3 3 8 Sl. & o 2 11 , 8 7 3 S8 , 8 4 8 SI . D 2 3 sum Sl,387 CI . A $ 8 4 RE S I D E N T W . (3 , 1 0 1 - 4. 3 0 0 Sf ) 50 50 17 J U 7 S8 . 1 0 6 SI J N 11 . 4 3 3 $8 . 8 0 2 11 . 7 7 4 ll.t50 Sl.129 CI A S S 5 RE S I D E N T W . ~.7 0 1 • 3, 1 0 0 Sf ) 50 17 . 2 4 7 17 . : 1 1 2 17 . 5 4 0 $7 , 1 1 1 1 17 , 1 1 4 o 1 S8 , 0 0 1 S8 , 1 1 1 11.325 Sl.491 Cl A S S I RE S I D E N T W . ~.4 0 1 - 3, 7 0 0 Sf ) 50 17 , 1 2 1 17 . 2 8 3 1 7 . - 17 . 5 5 7 17 . ' 7 0 8 17 . 1 8 2 $8 . 0 1 1 $8.110 S8,343 CI A S S 7 RE S I D E N T W . (2 , 9 0 1 - 3, 4 0 0 Sf ) 50 S8 , 7 7 4 S8 . 9 0 t 17 , 0 4 7 $7 , 1 1 1 17 . 3 3 2 17 . 4 7 1 17 . 1 1 2 8 17.781' 17.137 Cl A S S I RE I I I O i i N 1 W . (< - 2.1 1 0 0 Sf ) 50 S8 , 3 0 0 S8 , 4 2 7 S8 , 5 5 5 ... . . . $8 , 8 2 0 ... . . . S7 . 0 1 S S72U S7.382 l/1 MA X I M U M SP E C I A L TA J ( E S UN D E I I B . O P E D PR O P E R T Y 11 . 2 1 $ . 8 8 9 11 . 2 0 9 . 8 7 5 11 . 0 0 1 , 0 6 6 S7 2 1 , 8 0 3 S39 S . O S S (S O ) (S O ) (SO) (SO) (SO) NO I I o R E 8 I D E H T 1 A PR O P E R l Y 50 50 50 50 50 so 50 50 50 so R2 8 I I I E N I I A L PR O P E R T Y Ct. A S $ 1 CU S T O M HO M E S 50 50 50 50 50 $2 3 0 , 2 3 4 12 3 4 . 1 1 3 1 $2 3 9 , 5 3 1 $244.32& U.l.213 CI. A $ 8 2 ~( > 4 . « 1 0 6 1 ' ) so 50 11 7 . 1 0 5 $4 . 1 1 5 8 $7 4 , 5 1 5 11 0 4 . 5 0 7 11 0 6 , 5 1 8 11 0 1 , 7 2 9 $110,904 1113.122 CI A S $ 3 AE S I D e i 1 W . (4 . 3 0 1 - 4.1 0 0 6F ) 50 50 14 9 . 1 1 3 4 11 1 1 1 , 3 8 5 11 7 8 , 5 5 2 12 8 0 . 1 7 6 $2 8 5 . 3 7 9 $2 7 0 . 1 1 7 $27&.100 1211.123 CI . A $ 8 4 ~( U 0 1 - 4 . 3 0 0 S f ) so 50 I1 5 . 1 8 C 14 0 . 5 3 0 $8 1 , 1 4 5 $1 0 1 . 2 0 2 11 0 3 . 2 2 8 $1 0 5 . 2 9 0 1107.398 $109,544 CI . A $ 8 5 ~~ . 7 0 1 · 3 . 1 0 0 S f ) 50 $2 1 , 7 4 1 SS 8 . 1 3 5 $1 1 3 . 0 9 1 11 7 1 . 1 1 3 $2 1 1 . 7 1 1 $2 1 8 , 0 3 4 12 2 0 . 3 5 5 $224.7&2 $229.257 ClA S S I RE I I I D E H T I A I . (3 . 4 0 1 - 3.7 0 0 Sf ) so $2 1 . 4 1 3 $5 8 . 1 0 1 $1 8 , 3 1 0 11 3 8 . 0 1 1 $1 5 4 , 1 5 5 11 5 7 . 2 3 8 11 8 0 . 3 1 3 $113.59\ 1111,113 CI A S S 7 RE l i i D B I 1 1 A I . (2 . 9 0 1 • 3.4 0 0 Sf ) 50 12 0 . 3 2 1 Sl 2 . 1 1 3 11 1 2 . 7 5 8 $1 7 2 . 5 2 0 S2 1 U 1 3 $2 2 4 , 3 8 3 12 2 8 . 1 5 0 $233,427 S2sa.09S OJ ClA S S I RE S I D E N T I A l . (C . 2.1 1 0 0 Sf ) 50 $1 2 . 1 0 1 $2 5 . 7 0 6 $3 1 1 , 3 3 0 15 0 , 1 7 6 $8 1 , 1 9 9 $8 1 . 5 1 1 3 $7 0 . 1 5 4 172.373 173.120 - - - - - - - - - - - - - - - - - - - - - I lO T A I . I I A I I I W I I V E C I A L TA l i E a 11 . 2 I S , I n ~ $1 , 2 A . 9 2 1 $1 , D I . O Z I I S1 o Z 7 7 . A 1 $1 , 2 5 1 1 .. . . $1 , 3 8 0 . 2 3 4 S1 . 3 7 7 . z s t $1 . 4 0 4 , 7 1 4 S1.au79 $1,411,137 w w D£B T SE B \ I J C E CQ I I E B A G E Gl \ 0 $ 5 DE B T II I E R W : E C C N 6 1 W i & ~ 1S T BO N D / O H D 70 UH I T S " NA NA NA 11 0 ~ 11 2 . 2 7 Y o 11 4 . ~ 11 1 . 8 1 ' 1 1 . 11 1 . 1 4 ! ! , 123.22'11. 123.22'11. GR O S S DE B T SE R V I C E CO I I E R A G I ! • NA NA NA NA NA NA NA 110 . G 3 ' 1 1 o 112.77'11o 114.23'11. NE T DE B T SE R V I C E CO \ I E M G I ! - NA NA NA NA NA NA NA 11 1 . 0 8 1 1 115.72'11. 117.18!!o • .w . u b l t i i S I ' I D A L TA I E f l & S J a D . M : M 4 \ ' Z m W 7 Q Y . O O U J m n C i R r . I I : S I J G T X I 0 7 C E - ..u . D : W U I S I " ' C . < M . TA I D ~ O D A D W I ' M S 1 ' J W I J C J N I ' U J S N: J Q f t 2 i ' £ M V l O « i l . at t O I W I/T Q I £ S S £ U r .t D n a : CU S O CF D No . :Z O O S . 1 (W h i s p e r i n g Hil s ) : 54 Or a l ! - Un a U d i t e d Page4 FIS C A L YE A R · CO I . I . E C 1 I O N OF TA X E S 20 2 1 . . . 2 2 20Z Z . . . Z Z 20 Z 2 - 3 4 - ma . a ~ :II I Z 7 . a 20 2 W I -~1 CA I . E I I I I A R YE A R - PA Y I I E N I S l O BO N D H0 1 . . D E R S 20 Z 2 - - - - :II I Z 7 :1 0 2 1 --2031 !. Cf D BQ N D ! D IN D E B I E D N E S S cu s o Ot l i E R FA C l i . I T l E S so so so so so so so so so so IN C : N i i i E N T A L M'! I I E N T OF PU R a W ; E PR I C E R £ : 6.I H I H S I S I T 1 ; so so so so so so so so so so CIT Y OF 1W 1 .A 1 N 1 CA P I S T R A N O PU B U C F ~ & F e E S so so so so so so so so so so Otl i E R CIT Y FA C I U l l E S so so so so so _ _ _ so so so so so TO T A L FlM A H C E D PU B U C FA C L I T J E S so so so so so so so so so so TO T A L BO N D E D IN ! l e B l E D N E $ 8 so so so so so so so so so so D AR R O R P T I O N .. II U J U I I G PA I I I I I , •• Sl l l l l J . UN D I M U I P E D PA O P E R T Y -I H l E I I E L C F E D ~ (IJ . G ) (IJ . G ) (IJ . G ) (II .G ) (O . G ) (0 . 0 ) (I I .G ) (0.0) (II .G) (0.0) li E V E I . D P E D - - . n w . I ' R O P E R T Y CU I I I A A T I I I E - . - m A L ~ 0.0 0. 0 0.0 0.0 0. 0 0.0 0.0 0.0 0.0 0.0 OE 1 I E L O P E D ll f S I D E H M L I'R O P E i m ' ClA S S I CU S T O M HO M E S 15 15 15 15 15 15 15 15 15 15 Cl A S $ 2 RE S I D E N l W . C> 4.1 0 0 SF ) 11 11 11 11 II 11 II II II II CI . A S S 3 RE S I D E N l W . !4 . 3 0 1 - 4,6 0 0 SF ) 30 so so so so so so 30 so so CI . A S S 4 RE S I D E N i l A L (3 . 1 0 1 - 4.: ! 0 0 SF ) 12 12 12 12 12 12 12 12 12 12 Cl A S S 5 RE S I D E H t W . (3 . 7 ' 0 1 -uo o SF ) 27 27 27 27 27 27 27 27 27 27 Cl A S S I RE S I D E H T W . 13 . 4 0 1 · 3.7 0 0 SF ) 20 20 20 20 20 20 20 20 20 20 ClA S $ 7 RE S I D E H t W . C2. I 0 1 -3,4 0 0 SF ) 30 so so so so so so so so so Cl A S S e RE S I D E N T W . (a 2,1 0 0 SF ) -- ~ -- - ~ _ _ _ 1~ _ _ _ ,_o _ _ _ ,_o _ _ _ ,_o _ _ ,_ o _ _ ,_o ___ ,_o ___ 1_o CIJ I I I A A T I I I E RE S I I l e N ' l ' W . I H T S 15 8 15 8 15 8 15 8 15 8 111 1 15 8 155 155 1156 . c. - . . .. . . . . . . . . . . . . . . . . . . . . . . . . lh l n ~ . . . . . . . , OJ I ... . . DL ME L L Q . B Q Q S SP E C I A L TA Q $ +::- UN D I ! Y E I . O I ' B I I ' R O P E R l V IP E C W . TA X E S so so so so so so so so so so -- P I I : O f t i R l Y I I P & C I A L TA I I I ; I I so so so so so so so so so so Ra i D I ! N M L PI I I I P E R I Y IP E C W . TA X E S a. A S 5 1 CU 5 1 0 1 1 1 H D I I E S $2 5 4 . 1 1 1 7 t2 5 8 . 2 e t 12 1 1 4 , 4 1 7 12 1 1 8 . 7 1 1 1 t2 7 5 . 1 5 1 $2 1 1 0 , 1 5 4 12 1 1 8 . 2 1 7 12 1 1 1 - " 3 t287,833 AOS.m a. A S 5 2 RE S I D E H r i N . . C> 4. 1 0 0 SF ) 11 1 5 . 3 1 1 5 11 1 7 . 1 1 1 2 11 2 0 . 1 M 6 11 2 2 . 4 4 7 I1 2 C . 8 1 1 8 $1 2 7 . 3 8 4 I1 2 U 4 2 $1 3 2 , 5 4 1 $135,181 S137.116 a. A S 5 3 RE S I D E H r i N . . J4 , 3 1 1 1 - 4.1 0 0 SF ) S2 8 7 . 2 5 5 $2 1 1 3 . 0 0 0 S2 1 B M O IS O U 3 7 $3 1 0 . 8 : 1 4 $3 1 7 , 1 5 3 $3 2 3 , 4 1 1 8 S3 2 8 . e e e ------ QA S 5 4 RE S I D E H r i N . . p, I O I · 4, 3 0 0 SF ) 11 1 1 . 7 3 5 S11 3 . 1 1 8 l 1 $1 1 e . 2 Q 11 1 1 , 5 7 4 11 2 0 . 1 M S $1 2 3 , 3 1 4 11 2 5 . 1 3 1 Sl2 1 . 3 6 1 Sl30,t15 1133,533 CI. A B S 5 RE S I D E H r i N . . (3 . 7 ' 0 1 - :1 . 1 0 0 SF ) t2 3 3 . 1 4 2 t2 3 1 . 5 1 9 t2 4 3 . 2 1 t S2 A I . 1 5 5 t2 5 : l , Il l S2 5 1 , 1 8 1 12 1 1 : 1 . 3 " 12 1 1 1 , & 1 1 S273.-t279,463 ClA S S & RE S I I l e N ' 1 ' W . (3 . 4 0 1 - 3, 7 0 0 SF ) $1 7 0 . 2 0 0 11 7 3 . 1 0 4 $1 7 7 . D 7 1 1 11 1 0 . 6 1 1 11 1 4 , 2 3 0 11 1 7 , 8 1 5 11 1 1 . 1 7 3 $1 9 5 . 5 0 0 1199,416 12111,405 CI. A B S 7 RE S I D E H T W . (2 . 1 0 1 - 3,4 0 0 SF ) S2 A 2 . 1 5 7 12 C 7 , 7 1 5 t2 8 2 , l l 8 l l 12 6 7 . 7 2 2 12 & 2 . 8 7 7 S2 1 1 8 . 1 3 4 12 7 : 1 . 4 1 1 7 t2 7 9 , 1 1 7 12114,!141 1210.237 ClA S S I RE S I D E H T W . (< - 2.1 0 0 SF ) 17 5 . 2 1 1 7 17 8 . 1 1 0 3 17 1 , 3 3 1 1 17 8 . 1 1 1 1 5 11 1 , 1 1 0 4 11 3 , 1 3 4 11 4 , 7 1 1 8 19 5 , 4 1 2 SIUZI 118.8117 TO r A I . I P E C W . TA X P 11 . 4 1 0 , 7 1 1 S1 , 1 1 2 0 , 1 A 11. 1 1 5 0 . 1 1 1 1 $1 , 1 1 2 , 0 1 1 11 . 6 1 3 . 1 5 6 I1 , 1 4 1 , U 1 $1 . 1 7 1 . 1 4 7 $1 , 7 1 2 , 4 » $1,741,172 $1,711,108 Il l $p E C ! A L T A J : BE Q U ! R ! ! M E N J NE W II O N D B I I I C I I ! B ' I 1 D I I l l so so so so so so so so so so NE W R E . E E R V E F U N D so so so so so so so so so so AN N I . . W . D E B T &e f M C E . &E R I E & A 14 4 0 . 1 1 1 14 4 8 . 1 1 3 5 14 5 1 , 8 2 7 14 1 7 . 1 0 0 14 7 7 , 1 5 8 --- 14 1 1 8 , 4 3 3 150 1 1 . 3 1 1 2 1518,481 1528.118 NIN U A L DE B T &e i M C E • &E R I E S B 17 1 1 8 , 0 0 0 17 1 5 . 0 7 0 S1 0 0 , 7 7 1 11 1 1 . 7 1 8 11 1 3 3 , 1 2 2 S8 4 1 , 7 1 5 Sl 8 8 . 7 1 0 - . I l l 1101,7811 lt1U34 NIN U A L G R O S S D E B T ! I B M C E 11 . 2 3 8 . 1 1 1 11 . 2 3 4 , 7 0 4 11 . 2 5 ! 1 , 3 1 1 8 11 . 2 1 1 4 . 5 1 8 11 . 3 1 0 . 2 7 1 11 . 3 3 1 1 . - 11 , 3 6 3 . 2 1 3 11 . 3 1 0 , 4 7 8 11,411.217 $1,448,1153 CF D AD I I I N I S ' I l i A T I O N 15 1 1 , 7 8 5 11 5 0 , 9 5 0 11 2 , 1 1 i 8 $6 3 , 4 1 2 11 4 . 1 1 0 16 5 , 1 7 4 t& 7 , 2 1 1 3 ..... S70.D12 $71,412 RE . E E R V E FU N D I N T E A E S T I & ! I oe L J N Q I . e i C Y ) ($ 3 8 . 1 1 0 2 ) !S 3 6 . 0 0 2 ) ($ 3 8 . 1 1 0 2 ) (S 3 6 . 0 0 2 ) (1 3 6 , 1 1 0 2 ) (S 3 6 . 0 I I 2 ) (S 3 8 . 0 0 2 ) (1 3 1 , 1 1 0 2 ) (338.1102) (131.1102) CA P I T A 1 . 1 2 E D IN T E I I E S T so 10 so so so so so Ill so so MY - A S - Y O U - G O FU N D S (I N C R E I I E N T A L PA Y I I C N T OF PU R 0 t A & e PR I C e RE : Uf o t i S I I S I 1 E ) so Il l so so so so so so 10 so PA Y - A S - Y O U - G O F U N D S ( C I T Y O F - . u . N C A P I S T I I A N O P U I I U C F A C U J T l i ! S A N D F E E S ) so 10 so so so so so 10 Ill so PA Y - A S - Y O U - G O F U N D S ( C I T Y O F - . u . N C A P I S T I I A N O O T H E R C I T Y F A C I U l i E S ) so so so so so so so so 10 so -M Y . . A S - Y O I J . G O FU N D S T O C U & O ~ ~ ~ ~ t2 7 4 . 1 1 t ~ ~ ~ $2114,375 ~ NE I ' - . r A L I I E B T B B M C E 11 . 4 1 1 1 , 7 1 1 S1 , 1 2 0 , 1 A 11 , 1 1 5 0 , 1 1 1 1 11 , 1 1 2 , 0 1 1 IU 1 I . M I 11 , 1 4 1 , 1 2 1 $1 , 1 7 1 . 1 4 T 11 . 7 1 2 . 4 » $1,741,U2 11,781,108 Cl. l l l l a A T N E I I O N D P R O C E E D S I P A Y - A & Y O U - G O F O R 18 , 0 0 0 , 0 0 0 18 . 0 0 0 . 0 0 0 16 , 0 0 0 . 0 0 0 16 . 0 0 0 . 0 0 0 18 , 0 0 0 , 0 0 0 $8 , 0 0 0 , 0 0 0 16 . 0 0 0 . 0 0 0 16 . 0 0 0 . 0 0 0 16,000,000 sa.ooo.ooo IN C I I E M E N T A L MV M E H T O F ~ PR 1 a : RE : SJ H I H S I S I T E - SU R I ' I . I J S i t l l E so so so so so so 10 so 10 so CU I I I J I . A 1 1 1 1 E ~ I I } so so so so so so so so so so -U I : 1 f T S i i M I 7 Q : $ C I I E Z X J U : . - .c 5 S u a a : r liN I C H I A.\ V : J D " ' B B I J P . 1 f . l MJ N n rA r u n t r S .. CU S O CF D No . 20 0 5 - 1 (\ ' W I I s p e r t n g Hi l s ) : 54 On l 1 l • Un a u d i t e d PageS F1 I C A I . VE A R ·C O L I . £ C 1 J O N OF TA I I E I I 2G 2 1 . Z Z 20 Z W J -. a . - - 20 2 1 - 2 7 ZG Z 7 - D ZO Z I - Z I ~ ~1 CA I . E N I I A R VE A R • PA Y I I I ! N T S '1 0 BO N D H0 L 1 1 E R 8 ZII Z 2 - - - - 20 2 1 ZO Z I I --2031 y AW R A G £ AN N U A L Sf i £ C ! A b TA X UN D e V I ! L O P E D PR C I I ' E R T Y , PE R AC R I ! s.o s.o s.o s.o s.o s.o s.o s.o s.o s.o - . - n A L PR O P E R n ' , PE R A C R I ! so so so so so so so so so so RE I I I I E N 1 I A L PR C I I ' E R T Y , PE R UN I T ~ 1 CU S T O M HO M E S S1 s . e c & $1 7 . 2 1 1 $ $1 7 , 6 3 1 $1 7 . N o l $1 8 . 3 4 3 $1 8 . 7 1 0 $1 1 . 1 * $ 1 1 . - S1U56 SZ0.253 ~ 2 RE S I I l E N ! W . . I > 4.1 1 0 0 &F ) $1 0 . - $11 1 . 1 1 1 1 1 $1 0 . 1 1 3 $1 1 . 1 3 2 $1 1 , 3 1 5 4 $1 1 , 5 8 1 $1 1 . 8 1 3 $1 2 , 0 4 1 $12.2110 $12.538 ~ 3 RE S I D E H T W . ~.3 1 1 1 · 4, 8 0 0 &F ) $1 . 5 7 5 $8 , 7 6 7 $8 , 1 8 2 $1 0 . 1 8 1 $1 0 . 3 1 1 4 $1 0 . 5 7 2 $1 0 . 7 8 3 $1 0 , 1 1 1 $11,211 $11."3 ~ 4 RE S I I l E N ! W . . t 3 . 1 0 1 • 4. 3 0 0 &F ) 11 1 , 3 1 1 $8 , 4 1 1 7 $8 . 6 1 7 $8 . 1 8 1 11 0 . 1 1 7 1 11 0 , 2 8 0 1 1 0 . - $1 0 . 1 l 1 8 $10,110 $11,128 ~ 5 RE S I I l E N ! W . . ( 3 . 7 0 1 · 3. 8 0 0 & F ) $8 , 1 & 1 $8 , 1 3 4 $8 . 0 1 1 $8 , 1 1 1 $8 , 3 7 5 $1 . ! 5 8 2 11 . 7 5 3 $1.148 $10,1411 $10,350 ~· RE S I I l E N l W . . (.1 . 4 0 1 · 3. 7 0 0 &F ) $8 . 5 1 0 $8 , 1 1 8 0 $8 . 1 1 5 4 11 1 . 0 3 1 $8 . 2 1 1 $8 , 3 8 1 $1 . 5 1 1 4 $8.775 $8,171 110,170 ~ 7 RE S I I l E N l W . . (2 . 1 0 1 · 3. 4 0 0 &F ) $1 . 0 1 1 5 $1 . 2 5 7 $8 , 4 2 2 18 , 5 8 1 18 . 7 6 3 S8 , t 3 8 $8 . 1 1 7 $8.211 $8,4115 111,&7$ ~· RE S I I l E N l W . . , . . 2. 8 0 0 &F ) $7 . 5 3 0 17 . 1 8 0 17 . 8 3 4 17 , 1 1 1 $8 , 1 5 0 $8 . 3 1 3 18 . 4 8 0 18.141 18,122 18,111 ll ! MA X J M t ! M SP E C I A L TA X E S UN D E V E L O I ' I ! D Pll O I ' E R T Y (1 0 ) (1 0 ) (1 0 ) (1 0 ) (S O ) (1 0 ) (1 0 ) (10) (10) (10) -. - n N . P R O P E R n ' so so so so so so so so so so RE I I D E N T I A L PR O P E R T Y ~ 1 CU S T O M HO M E S 12 ! 1 4 , 1 1 7 $25 1 1 . 2 1 1 1 $2 6 4 , 4 6 7 S2 1 1 S , 7 5 6 $2 7 5 , 1 5 1 $2 8 0 . 8 5 4 $2 1 1 6 . 2 1 1 7 12 1 1 . 1 1 3 S2t7.833 $303,7119 ~ 2 RE S I D E H T W . (> 4. 8 0 0 &F ) $1 1 5 , 3 1 5 $1 1 7 . & 1 1 2 11 2 0 , 0 o l & S1 Z Z . " 7 $1 2 4 . 1 9 6 $1 2 7 . 3 1 4 $1 2 1 . 8 4 2 11 3 2 . 5 4 1 $1.181 $137,885 ~ 3 RE S I D E N T W . ~ . 3 0 1 · 4.8 0 0 &F ) S2 t 7 , 2 5 5 S2 I 3 . G G O $2 1 1 , 1 1 & 0 $3 0 4 . 1 1 3 7 13 1 0 , 1 3 4 13 1 7 , 1 5 3 13 2 3 . 4 1 1 6 S3 2 t . l l 6 8 SS38.!i85 1343.2116 ~ 4 RE S I I l E N l W . . (3 , 8 0 1 · 4.3 0 0 &F ) 11 1 1 , 7 3 5 S1 1 3 . 1 1 6 t $1 1 ~ 1 $1 1 8 , 5 7 4 11 2 0 . 8 4 5 11 2 3 . 3 8 4 $1 2 5 . 1 3 1 $1 2 8 . 3 4 1 $130.115 $133.533 ~ 5 RE S I I l E N l W . . (3 . 7 0 1 · 3. 8 0 0 &F ) S2 S 3 . 8 4 2 $2 S 8 , 1 1 8 32 4 3 . 2 1 1 1 $2 4 1 1 , 1 5 5 $2 5 3 . 1 1 8 32 5 1 . 1 1 1 32 1 3 . 3 4 4 32 1 8 . 8 1 1 $273.813 3271,413 Cl . - s s l RE S I I l E N ! W . . ( . I . 4 0 1 · 3 . 7 0 0 & F ) $1 1 1 1 , 2 0 0 $1 7 3 . 1 0 4 $1 7 7 , 0 7 6 $1 8 0 , 6 1 1 $1 1 4 . 2 3 0 $1 1 7 , 8 1 5 $1 1 1 . 8 7 3 $1 1 5 . 8 0 1 $118,418 SZ03.405 Cl . - s s 7 RE S I I l E N l W . . (2 . 8 0 1 · 3. 4 0 0 &F ) I2 G . 8 5 7 12 4 7 . 7 1 5 32 5 2 . & 6 9 $2 5 7 , 7 2 2 sa 2 . 1 7 7 32 8 1 . 1 3 4 $2 7 3 . 4 8 7 $2 7 1 . 1 5 7 $214,148 $280,237 Cl . - s s l RE S I I l E N l W . . to 2.8 0 0 SF ) m. 2 9 7 $7 6 , 1 1 1 1 3 17 8 . 3 3 8 $7 1 , 8 0 5 18 1 , 5 0 4 $1 3 , 1 3 4 18 4 . 7 8 1 $8 1 , 4 8 2 $11.222 Sl8,187 OJ - - - - - - - - - - - - - - - - - - - - - - - - ------ I lO T A I . - I I l ' I ! C I A L T A l l l l & $1 , 4 8 0 , 7 8 1 11 , 1 2 0 . 8 1 3 1 1 . - . - S1 , 5 1 l , 0 1 1 11 . 8 1 3 . 1 1 8 l1 , 1 4 $ , 8 2 t I1 , 1 J a , $ 4 7 11 , 7 1 1 . 4 3 4 $1,7...-n $1,711- ~ ln 14 1 DE B T SE I M C E CO \ I E B A G E GR 0 & S DE B T II E I M C I ! CC M ! R A G E FR O M 1S T BO N D AN D 711 UN I T S ' 12 3 . 2 : n l o 12 3 . 2 : n l o 12 3 . z n l , 12 3 . 2 : n l o 12 3 . 2 : n l o 12 3 . 2 : n l o 12 3 ~ 1 ~ 123.znl, 123.2:nlo GR O S S DE B T II E I M C I ! CC M ! R A G E • 11 5 . ~ 11 t . z n l o 11 t . z n l , 11 8 . 2 : n l o 11 8 . 2 : n l o 11 8 . 2 : n l o 11 8 ~ 1 1 ~ 11t.znl, 118.2:nlo NE T DE B T II E I M C I ! CO V E R A G E - 11 8 . 8 1 % 12 1 . 1 3 % 12 1 . 0 8 % 12 1 . 0 2 % 1 2 0 . - 12 0 . 1 1 % 12 0 . - 12 0 . 8 1 % 120.711'1o 120.71% • ~s n t : I A L TA m ' U:S S C F D A D I J : l i i i 1 T i f A D . D t t ' I D E D i l f Q I I l D ' D0 1 S 6 1 1 1 1 Q ; -l l » l J l f M s r B : U L T.U U L D S O V A D M D I D ' t A C ' f l O . ' i / ' L U S &S O ' I l " ~ UIU I E U I I T GI I C . I S S I J i i l f .!D l l ' l C % CU S O CF O No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 54 Dt a l l - Un a u c l l l e c l Page& FI I I C I I l . Yf A R -c o u . E C 1 1 0 N OF TA X E S 20 3 1 . . U 2Q U . 3 3 - - - ZD 5 - 3 T 2U 7 . a --2060-41 CA L E N D M Y f A R • PA Y I I I ! N Y S lO -D H01 . 1 1 E R S ZO I Z - - - 20 1 1 211 1 7 - --2N1 I WD I I E i l l t l l l l E m m ~ W aJ S D on t ! R F.- . : t U T I E S 10 10 10 10 10 10 10 10 10 10 IH C R E M E N T A L PA Y M E N T OF PU R C I W i E PR I C E Re : SJ H I H S I S 1 l l ! 10 10 10 10 10 10 10 10 10 10 CIT Y OF SA N .1 1 1 M CN ' I S l f W I O PU 1 1 L 1 c : FA C i l i T I E S & FE E S 10 10 10 10 10 10 10 10 10 10 on t ! R CIT Y F.- . : t U T I E S 10 10 10 10 10 10 10 10 10 10 lO T A L F I N N « : E D PU I I L i c : FA C I L J T I E S 10 10 10 10 10 10 10 10 10 10 TO T A L IIO N D E D IN D E I I T E D H E & S 10 10 10 10 10 10 10 10 10 10 1), AI B O R P T I O N • Bl B U I I H G PE R I I I I & ll l l l l l f 1 l • UII I I E V E l O P E I I PR O P E R T Y - UI C I E \ I i i . . O P E I A C R E A G E (0 . 0 ) (O . C I ) (0 . 0 ) (0 . 0 ) (0 0 ) (0 0 ) (O . O J (0.0) (O.CI) (0.0) -- ' I I E N I I A L P R O P E R I Y cw U L A T I V E NO N - R E S I D E N T W . AC R E A G E 0. 0 0. 0 0.0 0.0 0. 0 0. 0 0. 0 0.0 0.0 0.0 -~ P R O P E R T Y CIA & & I CU S T C I I HO l i E S 15 15 15 15 15 15 15 IS. 15 15 CIA & & Z RE S I D e N T I A l . ( > 4,5 0 0 SF ) 11 11 11 II 11 11 11 II 11 II CI A $ $ 3 RE S I D e N T I A I . I 4 . 3 0 1 • 4. 5 0 0 SF ) 10 30 30 30 30 30 30 30 30 10 CI A $ $ 4 AE & I D E N 1 1 A L ( 3 . 1 0 1 · 4, J O O S F ) 12 12 12 12 12 12 12 12 12 12 CI A $ $ $ RE S I D e N T I A l . (3 . 7 0 1 - 3.1 1 0 0 SF ) 'Z 7 'Z 7 'Z 7 'Z 7 'Z 7 27 'Z 7 'Z7 'Z7 'Z7 CI A $ $ 6 RI! I I I D E N i l A L (3 , 4 0 1 • 3.1 1 1 0 SF ) 20 20 20 20 20 20 20 20 20 211 CI A $ $ 7 RE S I D e N T I A l . C:Z . ! I D 1 · 3.4 1 1 0 SF ) 30 30 10 10 30 30 30 30 30 30 CIA & & I RE I I D E N I 1 A L (C D 2.1 0 0 SF ) _ _ _ 1_o _ _ _ l_o _ _ _ 1_0 _ _ _ 1_o 10 _ _ _ 1_o _ _ _ 1_ o _ _ _ 1_o ___ l_o 10 -- CI A I I A . A T l i / E RfS I D E N T I A L UN i l S 15 5 15 5 IS S 15 5 15 5 15 5 15 5 155 155 155 .. . . . . . . . . . . . . . . . ___ . ... . . ~~~~ ~ ~ . .. . . . . . ~~u ~ ~ ~ r v . . . . . . - : a . OJ I m II E I Lo . a o t J S S!E Q & L IA I E & ~ UN I I E I I I ! L O P E D I ' R O I ' E R T Y I P E C I A L TA l i E S 10 10 10 10 10 10 10 10 10 10 en NO i f . I I E I I D B I 1 1 PR O P E R T Y SP E C I A L TA X E S 10 10 10 10 10 10 10 10 10 10 RI! I I I I I ! N 1 1 A L P R O P E R T Y I I P E C I A L TA l i E S CU U I S I CU S T C I I H O U E B $3 0 1 1 . 8 8 5 13 1 6 , 0 6 2 13 2 2 . 3 l l o l 13 2 8 , 1 3 1 13 3 6 , 4 0 6 13 4 2 . 1 1 8 13 4 1 , 1 1 1 1 13 5 5 . 1 3 1 1 --1370.317 CI A $ $ 2 RE I I I D & N 1 W . . (> 4,& 0 0 SF ) $1 4 0 . 8 $ 3 $ 1 4 3 . - $1 4 1 . 3 3 6 11 4 1 . 2 6 2 $1 $ 2 . 2 4 8 $1 5 5 . 2 8 2 $1 5 6 , 3 1 1 1 Sl 6 1 . 5 6 1 1 $164,71111 S1A,O!M Cl A & S 3 RE S I D e N T I A l . (4 . - 1 • 4, 5 0 0 SF ) 13 5 0 . 1 6 2 S3 5 7 , 1 5 5 13 6 4 . 3 0 9 13 7 1 , 5 1 1 5 $3 7 1 1 . 0 2 7 l3 l e , 6 0 7 $3 1 N , 3 3 1 1 S4 0 2 . 2 2 I 1410.271 $416,478 CI . A & 8 4 RE S I D e N T I A l . (3 . t 0 1 · 4. - D SF ) $1 3 6 . 2 0 4 $1 3 1 , 1 1 2 8 S1 4 1 , 7 0 7 $1 4 4 , 5 4 1 $1 4 7 , 4 3 2 S1 5 o . 3 1 0 $1 5 3 , 3 1 6 $1 5 6 , 4 5 1 1 $1111.5115 $112,778 CI A $ $ 5 RE S I D E N n A I . (3 , 7 0 1 • 3, 1 0 0 SF ) 12 5 5 . 0 5 2 $Z ! 1 1 1 , 7 5 3 $2 1 1 1 1 , 5 5 6 13 1 1 2 . 5 0 0 13 0 8 . 5 5 0 13 1 4 . 7 2 1 $3 2 1 , 0 1 5 $3 2 7 , 4 3 5 1333.1114 1340.1114 CIA & & II AE & I D E H T 1 A L (3 . 4 0 1 • 3,7 0 0 SF ) S2 1 1 7 . 4 7 3 SZ 1 1 , t i 2 Z 12 1 5 . 6 5 5 $2 2 0 , 1 7 2 12 2 4 . 5 7 5 12 2 ! 1 , 1 1 6 7 12 3 3 , 8 4 8 12 3 1 . 3 2 1 1243.056 1247,8411 CI A $ $ 7 fiE S I D E N n A L C2, 1 1 0 1 • 3, 4 0 0 Sf ) S2 9 8 . 0 4 2 13 0 1 , 9 & 3 S3 G I , O Q 2 13 1 4 , 1 6 2 $3 2 0 , 4 4 5 S3 2 l l . 6 5 4 13 3 3 . 3 1 1 1 13 4 0 . 0 ! i l l 1346.160 1353.7V7 ClA S S & RE S I D E N T I A L (o 2.1 0 0 Sf ) $9 1 . 7 1 1 1 11 1 3 , 6 2 2 HS . 4 ! M $8 7 . - $1 1 , 3 5 2 $1 0 1 , 3 3 1 1 11 1 1 1 . 3 1 1 6 $1 0 8 . 4 3 4 $107.542 $101,1183 TO T A l . SP E C I A l . TA X E S $1 , 1 1 7 . D 8 II , I U , I I Z S1 , n o . I S o t $1 . - , . . & 7 $1 . - . G K u. o o u n ., _ , . , . 12 , 0 $ 7 , 4 3 6 12,1211,164 sz.m.m li t II P E C I A L IA I BiQ I I I B i M E H I NI! W BO N C E D IN D E S T E i l l e S 10 10 10 10 10 10 10 10 10 10 NI! W RE S E R V E FU N D 10 10 10 10 10 10 10 10 10 10 AN N t . l o \ L DE B T 8E I M C I ! • &E R I S S A 15 3 7 . 3 5 5 $5 4 8 , 1 0 2 S5 S I I , 0 1 1 4 $5 7 0 . 2 4 6 $5 6 1 . 5 5 0 $5 6 3 , 2 1 1 4 - . 1 4 1 $8 1 7 , 2 5 2 $821.5117 ~169 -. . A t DE B T SI! R I I I C E - SI! R I E 8 B $8 3 8 . 2 3 1 -·- !1 1 1 1 8 . 1 3 5 -. 8 5 6 $1 , 0 1 5 . $ 7 1 $1 . 1 1 1 5 , 8 8 3 $1 , 0 5 6 . 1 1 0 0 $1 , 0 7 7 , 7 3 2 $1,011.267 $1,121.273 AN N t . l o \ L GA O S S DE B T S E R V I C I ! $1 , 4 7 5 . - $1 , 5 0 5 , 1 1 ! 1 8 $1 , 5 3 5 . 2 0 0 $1 , 1 & 5 . - $1 , 5 1 1 7 . 2 2 2 S1 . 6 2 I . I I M I S1 . 1 1 1 1 , 7 4 8 $1 , 8 8 4 , 1 1 1 4 S1.7211.164 S1.7113.462 Cl' l ) A D M I N I S T R A T I O N S7 2 . 1 1 4 t $7 4 , 2 ! 1 7 $7 1 , 7 1 3 $7 7 . 2 1 1 1 1 $7 8 . 8 4 5 31 0 . 4 2 2 $1 2 , 0 1 0 SII 3 A 7 1 115.344 117.051 RE S E R V E FU N D I I m ! R E S f tn Da . I N I : I U B I C Y ! (1 3 6 . 0 0 2 ) ($ 3 6 . 1 1 0 2 1 (1 3 8 , 0 0 2 ) (1 3 8 . 0 0 2 ) ($ 3 6 , 0 0 2 ) ($ 3 1 . 0 1 1 2 ) (1 3 8 . 0 1 1 2 ) (1 2 8 . 0 0 2 ) ($36.0112) (138.002) CA P I T A U Z E D IH ' I E R E S T 10 10 10 10 so 10 10 so so so PA Y - ' V O U - G O FU N D S (IN C R E M I ! N T A L PA Y U C N T OF PU A C 1 W 1 E PR I C E RE : SH H S I S i l E ) 10 10 so 10 10 10 10 10 10 10 PA Y - ' V O U - G O FU N D S (C n Y OF SA N .a w l CN > I S T R A N O PU a . 1 C FA O U T I E $ Nf O FE E S ) 10 10 so 10 so so 10 10 10 10 PA Y - ' / O U o G O FU N D S (C I T Y OF SA N .a w l CN > I S T R A N O OT H E R CIT Y FA C I U T I E S ) 10 so so 10 10 10 10 so 10 10 RE M M I I N G P A Y - " f l l l . . . . O F U N D S T O C U S O ~ ~ ~ 13 2 1 . . 2 1 1 6 ~ ~ ~ $3 4 4 , 7 1 1 ~ ~ N E T ~ DE B T S E J M C I ! S1 , 1 1 7 , D 8 SI , I U , I I Z St , 1 1 0 , 1 6 4 $1 . U 1 , 4 1 7 S1 . M 7 , D M u. o o u n SZ . 0 4 U I I I 12 . 1 1 1 7 - 12.121,164 12,171,'1W CU I M . A T I V E BO N D PR O C E E D $ I P A Y - A $ - ' V O U - G O FO R $8 , 0 0 0 , 0 0 0 $6 , 0 0 0 , 1 1 0 0 $8 , 1 1 0 0 , 0 0 0 $8 , 0 0 0 . 0 0 0 $8 . 0 0 0 , 0 0 0 $8 . 0 0 0 , 0 0 0 $8 . 0 0 0 . 0 0 0 $6 , 0 0 0 , 0 0 0 $8,000,000 $6,000.000 IN C A E M E N I ' A L P A Y I E N f O F ~ PR I C E RE : s.J H M S I S I T E - ~ 10 $0 $0 10 10 10 10 so 10 10 CU I I U I . A T I V E aA ' U J S I I I l E F I C I 10 10 10 10 10 10 10 10 10 10 -n D I T . I I ' O n 7 ( ) ; ! f C ' r i F Z X J I F . ..c u t . I 4 ' S A U I I O I I A . Y D ~ III O A 1 J f ' A n ~ D ' T . f - CU S O CF D No . 20 0 5 - 1 (W h l s p e t t n g Hil l s ) : 54 Dr a f t • Un a u d l l e d Page7 FIS C A L Y!A R • CO I . L E C T I O N OF TA U S 20 3 1 4 2 ~ 21 1 3 1 - M 2f l 3 4 . 3 a - JD J & . n 20 3 7 - 3 1 -~ ~1 CA l S I I W I Y! A R ·P A Y M S m l l O - H01 . . D E R S :I O U 211 3 3 - - - 20 3 7 21 1 3 1 --ZOC1 It A\ I E B A G E AN N U A L SP E C I A l . TA X UN D E V B . 0 P 1 D PII O I ' E R T T . PE R AC R e $. 0 $.0 $. 0 $. 0 $. 0 $. 0 $. 0 $.0 $.0 S-0 ~ ~ . P E R A C A e so so so so so so so so so so AE 8 I I I E N 1 1 A L PR O P E A l Y , PE R UN I T CI A S S 1 CU S T O M HO M E S $3 1 , 6 5 8 $2 1 , 1 1 7 1 12 1 •• 92 $2 1 , 8 2 2 $2 2 , : 1 6 1 12 2 . 1 0 8 12 3 . 2 1 1 0 12 3 . 7 2 9 ~.21M ~- CI A S S 2 RE S U l l i N T I A l P UO O &F ) 11 2 , 7 1 1 7 ,,, , 1 1 4 2 S1 U D 3 $1 ; } , 5 1 1 9 11 3 , M 1 11 . , 1 1 7 ., .. - .,. _ st•.M2 116.281 CI A S S 3 RE l l l l E N T W . ( < & , 3 0 1 . •.e o o &F ) 11 1 , 6 7 2 111 , 1 1 0 & 11 2 . 1 . . 11 2 , 3 1 1 & $1 2 , A o l 11 2 . 1 8 7 I1 3 , U 6 $1 3 . - 11U111 $13,1148 ClA S S • RE S I ! l E N T W . (3 . 1 0 1 • •. 3 0 0 &F ) 11 1 . 3 5 0 11 1 , & 7 7 11 1 . 1 0 8 11 2 . - I1 2 . 2 B e $1 2 . 6 3 2 11 2 . 7 1 1 2 11 U 3 8 113,211 113.585 CI A S S 5 RE S I ! l E N T W . (3 , ' 1 0 1 • UO O &F ) 11 0 . 1 1 1 7 11 0 , 7 6 8 11 0 , 1 8 4 It t .2 1 M I1 1 , G I I 1 1 1 - 11 1 , 1 1 1 1 $1 2 . 1 2 7 112,3711 $12,817 ClA S S I RE S I D E N T I A l (3 , . 0 1 • ;} . 7 0 0 Sf ) 11 0 . 3 7 • 11 0 . 1 1 1 1 11 o . m 11 1 , 0 0 1 11 1 , 2 2 8 1 1 1 . - 11 1 , & 1 1 2 $1 1 , 8 1 6 112.111" 112.387 CI A S S 7 RE S 1 D E N T 1 A L (2 . 1 0 1 • 3. . 0 0 Sf ) 11 1 . 1 1 1 $1 0 , 0 1 1 5 11 0 . 2 8 7 $1 0 , 4 7 2 S1 0 , 1 1 1 Z 11 0 , 1 1 1 1 5 11 1 , 1 1 3 11 1 . 3 3 5 111.562 111,M ClA S S I RE S 1 0 e N T W . . , .. 2,1 0 0 SF ) 19 . 1 7 1 1 19 . 3 1 1 2 11 1 , 5 4 1 11 1 , 7 . 0 11 1 , 8 3 5 11 0 , 1 3 4 11 0 , 3 3 7 11 0 , 1 1 " 3 11D,75ol 110.1168 l/1 MA X J M U M Sp e c i A L T4 X E S UN D E ' t i E L O P a l PR O P E R T Y (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (S O ) (SO) (SO) (SO) NQ I I . R E 8 I I 1 E I I f PR O P E R l Y so so so so so so so so so so -- l Y CI A S S 1 CU S T O M HO l i E S SS 0 1 1 , 1 1 8 5 $3 1 1 , 0 6 2 S3 2 2 , 3 8 C $3 2 1 1 . 1 3 1 13 3 5 . - $3 4 2 . 1 1 6 $3 4 8 , 1 5 1 13 5 6 , 1 1 3 8 1363.05& $3'10,!117 CI A S S 2 RE & 1 D e N T I A l p uo o &F ) 11 C I . I $ 3 11 ~ . - 11 . a . 3 3 1 S1 o l 8 . a 2 11 U 2 4 8 11 5 5 . 2 9 2 11 5 8 . ! 1 8 8 11 1 1 . 5 1 1 1161,718 1161,DM CI A S S 3 RE S I D E N T 1 A L 1• . 1 0 1 · 4.1 1 0 0 Sf ) 13 6 0 , 1 1 1 2 13 5 7 , 1 8 $ $3 8 C , S O I $3 7 1 , 5 8 5 s:J 7 8 , 0 2 7 $3 8 1 , 1 0 7 S3 N , 3 3 I I S4 0 : Z , Z Z & 1410,271 141U76 Cl A S S • RE S 1 D E N l W . (3 . 1 1 0 1 • 4,! 1 0 0 Sf ) S1 3 1 . 2 C M 11 3 8 , 1 1 2 1 1 11 4 1 , 7 0 7 11 .. . 11 " 1 1 1 · 7 - - 11 S 0 . 3 1 1 0 11 5 3 , ! 1 1 1 ll t M I , G I S1tMI,tM15 $162,7711 CI A S S S RE S I ! l E N T W . 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I D 1 J C E EXHIBITC DESCRIPTION OF CITY FACILITIES The following improvements are eligible City Facilities: CITY FEE FACILITIES Traffic Mitigation Fee (CCFP) Park Fee San Juan AG Preserve Fee San Juan Water Capacity Fee San Juan Water Meter San Juan Water Capital Improvement Charge San Juan Water Storage Fee San Juan Drainage Fee San Juan Fee Ordinance 211 San Juan Ordinance 364 San Juan Sanitation District (Sewer) Fee SUBTOTAL CITY ACQUISITION FACILITIES (Detailed description attached) Vista Montana Improvements Sewer Water Reclaimed Water Stonn Drain SUBTOTAL ADDITIONAL CITY FACILITIES1> GRAND TOTAL PAID TO DATE 7,387 1,798,000 500 578,232 31,000 311,240 217,000 862.41 115 3,522 4301.46 2,952,160 COMPLETED PRIOR TO 1/1/09 2,328,431 263,120 743,475 272,276 2,031,054 5,638,356 8,590,516 TO BE PAID 1,137,598 77,000 132,811 17,710 646,478 662,425 2,674,022 TOBE COMPLETD 2009-2015 2,000,000 1,200,000 400,000 3,600,000 8,057,767 TOTAL 1,144,985 1,798,000 77,500 578,232 31,000 311,240 217,000 133,674 17,825 650,000 666,726 5,626,182 TOTAL 2,328,431 2,263,120 1,943,75 672,276 2,031,054 9,238,356 1,783,745 16,648,282 I> City to receive amount equal to 12% of all disbursements for City Facilities to be used for Additional Facilities. C-l EXHIBITD DISBURSEMENT REQUEST FORM CITY OF SAN JUAN CAPISTRANO/CFD NO. 2005-1 WHISPERING HILLS PLANNED COMMUNITY Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) '("CFD No. 2005-1") is hereby requested to pay from the City Facilities Account established by the Indenture described in the F/A Agreement among the Parties ("Indenture") ofCFD No. 2005-1 in connection with its CFD No. 2005-1 First Series and Second Series Special Tax Bonds ("Bonds"), to the City of San Juan Capistrano ("City"), as Payee, the sum set forth below in payment of City Facilities described below. The undersigned certifies that the amount requested has been expended or encumbered for the purposes of constructing and completing City Facilities. The amount requested is due and payable under, or is encumbered for the purpose of funding, a purchase order, contract or other authorization with respect to the project costs described below and has not formed the basis of prior request or payment. The City agrees to trace and remit to CFD No. 2005-1 all earnings, if any, in excess of the yield on the Bonds accruing from the investment of the amounts requested herein, from the date of receipt by the City of such amounts to the date of expenditure of such amounts by payment thereof to a third party for the costs set forth below. Such remittance, if any, shall be made each year on the earlier of the expenditure of such amounts or the anniversary date of the transfer of the requested amounts by CFD No. 2005-1 to the City. Description of corresponding City Facilities: Amount requested: $ ____ _ The amount of$ is authorized and payable pursuant to the terms of the First Amended and Restated Joint Community Facilities Agreement among Capistrano Unified School District, Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills), the City of San Juan Capistrano, Rancho San Juan Development LLC and Whispering Hills LLC, dated as of 1, 2011. Executed by an authorized representative of the City of San Juan Capistrano. By: Name: Title: Dated: Request No.: __________ _ Attest: D-1 EXHIBITD-1 FORM OF ACQillSITION FACILITY(IES) PAYMENT REQUEST The undersigned, hereby requests payment in the total amount of $ as the Acquisition Price of the Acquisition Facility(ies) (as defined in the First Amended and Restated Joint Community Facilities Agreement by and among Capistrano Unified School District Community Facilities District No. 2005-1 (Whispering Hills), City of San Juan Capistrano ("City"), Rancho San Juan Development LLC, and Whispering Hills, LLC dated as of_~-~ 1, 2011 ("F/A JCFA") more fully described in Attachment 1 hereto. In connection with this Payment Request, the undersigned hereby represents and warrants to the City as follows: 1. He( she) is a duly authorized officer of the undersigned, qualified to execute this Payment Request for payment on behalf of the undersigned and is knowledgeable as to the matters set forth herein. 2. All costs of the Acquisition Facility(ies) for which payment is requested hereby are actual costs and have not been inflated at any respect. The actual costs for which payment is requested have not been the subject of any prior disbursement request submitted to Community Facilities District No. 2000-1 of the Capistrano Unified School District (the "CFD"). 3. Supporting documentation (such as third party invoices, lien releases and cancelled checks or other evidence of payment) is attached with respect to each cost for which payment is requested. 4. The Acquisition Facility(ies) for which payment is requested was constructed in accordance with the requirements ofthe F/A JCFA. 5. The undersigned is in compliance with the term and provisions of the F/A JCFA and no portion of the amount being requested to be paid was previously paid. 6. The Acquisition Price for the Acquisition Facility(ies) has been calculated in. conformance with the terms of the F/A JCFA. 7. Please authorize payment of the Acquisition Price by CFD No. 2005-1 to the following entity(ies), if other than the undersigned, in the amounts or percentages indicated: [Insert names of payees and amounts or percentages] D-1-1 I declare under penalty of perjury that the above representations and warranties are true and correct. Dated: Dated: RANCHO SAN JUAN DEVELOPMENT LLC By: Its: CITY OF SAN JUAN CAPISTRANO Payment Request Approved for Submission to CFD By: Its: D-1-2 ATTACHMENT 1 SUMMARY OF ACQUISITION FACILITY(IES) TO BE ACQUIRED AS PART OF PAYMENT REQUEST Acquisition Facility(ies) Actual Costs Disbursement Requested [List here all Acquisition Facility(ies) which payment is requested, and attach support documentation] AGREEMENT REGARDING ACCESS EASEMENT THIS AGREEMENT REGARDING ACCESS EASEMENT (this "Agreement") is entered into as of , 2011, by and between RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("RSJ") and the CITY OF SAN JUAN CAPISTRANO, a general law city (the "City"). RSJ and the City are each sometimes referred to herein individually as a "Party," and, collectively, as the "Parties." The Parties are entering into this Agreement with reference to the following facts: A. RSJ is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "A" attached hereto and made a part hereof (the "RSJ Property"). B. The City is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "B" attached hereto and made a part hereof (the "City Property"), which is located adjacent to the RSJ Property. C. In connection with the City's contemplated use of the City Property, the City desires to obtain from RSJ a nonexclusive easement and right of way over the RSJ Property consisting of two access roads providing ingress and egress to the City Property, all pursuant to an Access Easement (the "Access Easement"), in the form attached hereto as Exhibit "C" and made a part hereof. D. The Parties desire to enter into this Agreement simultaneous with that certain First Amended and Restated Joint Community Facilities Agreement among Capistrano Unified School District (the "School District"), Community Facilities District No. 2005-1 of Capistrano Unified School District (Whispering Hills) (the "CFD"), the City, RSJ, and Whispering Hills, LLC (the "A&R JCF A"), which provides a means of financing through the CFD certain development fee reimbursements and public improvements needed to serve certain real property, including the RSJ Property. E. The Parties intend to enter into this Agreement to provide for the granting of the Access Easement and the construction by RSJ of the access road within the area crosshatched on Exhibit "C" attached to the Access Easement (the "Easement Area") pursuant to specifications described in Exhibit "D" attached hereto and made a part hereof (the "Access Road Specifications") upon the City's receipt of all necessary regulatory approvals and permits for such construction. NOW, THEREFORE, in consideration of the above Recitals and the conditions, covenants and other provisions set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each of the Parties, the Parties hereto hereby agree as follows: 5/26/11 9130.2 #96779 v7 EXHIBITS 1. Access Easement. Upon completion of the Access Road described in Section 2 below, RSJ and the City hereby agree to immediately execute and deliver the Access Easement and cause it to be recorded in the Official Records of the County of Orange. RSJ and the City acknowledge that the Access Easement provides for, among other things, (i) the grant of a nonexclusive easement and right of way over two access roads located in approximately the Easement Area hatched and crosshatched on Exhibit "C" to the Access Agreement, each not less than twenty-two (22) feet in width, each providing ingress and egress to the City Property, and each access being across, through and over the RSJ Property, (ii) that the easement shall be used for vehicular (including, without limitation, delivery trucks and such other trucks as are required for the construction and maintenance of the roadway and all other vehicles involved in permitted uses described in the Access Easement) and pedestrian access, ingress to and egress from the City Property over and across the Easement Area, as well as for purposes of repairing, replacing and maintaining the roadways and other associated improvements, (iii) that the easement shall be limited to purposes reasonably relating to the open space uses of the City Property and as otherwise permitted by or described in this Agreement and the Access Easement (including, without limitation, as set forth in provision (iii) above), [IS THIS CORRECT (E.G. IS THIS BROAD ENOUGH? ANY MODIFICATIONS SHOULD ALSO BE REFLECTED IN THE ACCESS EASEMENT) (iv) that RSJ's predecessor in interest previously granted to the Capistrano Unified School District (the "School District") a nonexclusive easement within the portion of the Easement Area from La Pata A venue to the San Juan Hills High School Property for purposes of ingress and egress, and (v) that use of the Easement Area by the City shall not unreasonably interfere with or impede the use of the portion of the Easement Area by the School District. 2. Construction of Access Road. Provided the City obtains the necessary governmental permits and authorizations contemplated herein, RSJ agrees to grade and construct, at its sole cost and expense, the access road within the crosshatched portion of the Easement Area depicted on Exhibit "C" pursuant to and in accordance with the Access Road Specifications. RSJ shall use good faith efforts to commence the grading and construction of the access road within thirty (30) days of City's written request, which request shall include reasonably satisfactory evidence that the City has obtained the necessary governmental permits and authorizations. Upon commencement, RSJ shall thereafter prosecute such grading and construction to completion and shall use good faith efforts to substantially complete the same within sixty (60) days of commencement. 3. Government Regulations. The City agrees, in connection with RSJ' s grading and construction activities contemplated herein, to obtain, at its sole cost and expense, all governmental permits and authorizations of whatever nature required by any and all applicable governmental or quasi-governmental agencies or authorities in order to conduct and complete such activities. 4. Maintenance and Condition of Easement Area. Upon completion of the Access Road, the City will be responsible for any damage done to the Easement Area during the term of the Access Easement by the City and/or its contractors, subcontractors, employees, lessees, licensees, invitees, permittees, successors and assigns, or any other persons directly or indirectly employed by any one of the foregoing or reasonably under the 5/26/11 9130.2 #96779 v7 2 control of any of the foregoing or for whose acts any of the foregoing may be liable. In addition, the City shall be obligated to maintain the Easement Area and all improvements, installations and facilities installed thereon (including any landscaping) in good and safe order, condition and repair, including, without limitation, maintenance as may be required by any applicable governmental or quasi-governmental agency or authority. Following completion of the Access Road, RSJ shall not be required to make any alterations or repairs to the Easement Area or otherwise maintain the Easement Area except as a result of RSJ's negligence or willful misconduct. 5. Further Assurances. Each Party shall execute and deliver such further instruments and shall take such other action as the other Party may reasonably request from time to time in order to carry out the intent of this Agreement. 6. Entire Agreement; Amendments. This Agreement and the Access Easement contain the entire agreement of the parties hereto relating to the subject matter hereof. Any amendment or supplement to, or waiver of, any provision of this Agreement must be in writing and signed by the Party whose obligations are purported to be affected thereby. 7. Binding Effect. This Agreement shall be binding on and shall inure to the benefit of the successors, and assigns ofRSJ and the City. 8. Attorneys' Fees. If any legal action or proceeding arising out of or relating to this Agreement is brought by either Party, the prevailing Party shall be entitled to receive from the other Party, in addition to any other relief that may be granted, the reasonable attorneys' fees, costs, and expenses incurred in the action or proceeding by the prevailing party. 9. Notices. All notices, demands, requests, solicitations of consent or approval, and other communications hereunder required or permitted shall be in writing and shall be deemed to have been given (i) when personally delivered or telecopied, (ii) one (1) business day after the date when deposited with an overnight courier or (iii) three (3) business days after the date when deposited in the United States mail and sent postage prepaid by registered or certified mail, return receipt requested, addressed as follows: 5/26/11 9130.2 #96779 v7 Ifto RSJ: Rancho San Juan Development LLC c/o Woodbridge Homes 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager Telephone No.: 949/493-1171 Facsimile No.: 949/661-5451 E-mail: tcunningham@woodbridgehomes.com 3 with a copy to: lfto City: with a copy to: IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Telephone: 949/655-7605 Email: ------- City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager/City Clerk Attention: ------------------------ Telephone No.: ------------------- Facsimile No.: --------------------E-mail: ------------------------- One Party may change its address for notice purposes under this Agreement by giving the other party written notice of such change in the manner prescribed above. 10. Counterparts. This Agreement may be signed in multiple counterparts which, when signed by all Parties, shall constitute a binding agreement. 5/26/11 9130.2 #96779 v7 {Signature Page Follows] 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. "City" CITY OF SAN JUAN CAPISTRANO By: Name: City Manager APPROVED AS TO FORM: By: City Attorney 5/26/11 9130.2 #96779 v7 5 "RSJ" RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ______________________ __ Todd Cunningham, Manager 5126/11 9130.2 #96779 v7 EXHIBIT A RSJ PROPERTY [INSERT LEGAL DESCRIPTION] A-1 5/26/11 9130.2 #96779 v7 EXHIBITB CITY PROPERTY [INSERT LEGAL DESCRIPTION] B-1 See Attached. 5/26/11 9130.2 #96779 v7 EXHIBITC ACCESS EASEMENT C-1 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Clerk/City Manager Space Above This Line For Recorder's Use Only ACCESS EASEMENT THIS ACCESS EASEMENT (this "Agreement") is entered into as of , 2011, by and between RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company ("Grantor") and the CITY OF SAN JUAN CAPISTRANO, a general law city ("Grantee"). A. Grantor is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "A" attached hereto and made a part hereof (the "Grantor Parcel"). B. Grantee is the owner of that certain real property located in the City of San Juan Capistrano, County of Orange, State of California, legally described on Exhibit "B" attached hereto and made a part hereof(the "Grantee Parcel"). C. Grantee desires a nonexclusive access easement and rights of way for vehicles and pedestrians across, through and over the Grantor Parcel by way of two access roads for ingress and egress to and from the Grantee Parcel, together with rights for the purposes associated with the on-going maintenance of the rights of way. Grantor has agreed to grant Grantee such easement and rights of way on the terms and conditions contained in this Agreement. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by each of the parties, the parties hereto hereby agree as follows: 1. Grant and Description of Easement. 1.1 Grant. Grantor hereby establishes and grants to Grantee, for the benefit of Grantee and its contractors, subcontractors, employees, lessees, licensees, invitees (including the public), permittees, successors and assigns (collectively "Grantee Parties"), a nonexclusive easement and right of way over two access roads consisting of two access roads each not less than twenty-two (22) feet in width and each providing ingress and egress to the Grantee Parcel. Each access road shall be across, through and over the Grantor Parcel and shall be located within the area described in Exhibit "C" attached hereto and depicted as the areas hatched and crosshatched on Exhibit "D" attached hereto and made a part hereof (the "Easement Area"). The portion ofthis easement and right of way attributable thereto shall be located upon and within the area comprising the actual access roads. The portion of the Easement Area running north-south shall be fenced on its eastern boundary as necessary to prevent access from the Easement Area to the Grantee Parcel. Grantee agrees to comply with all governmental laws, statutes and regulations in connection with the maintenance of the roadway to be constructed by Grantor in the Easement Area. 5/25/11 9130.2 #96659 v8 1.2 Uses. The easement and rights of way granted in this Agreement are nonexclusive easement and rights of way for vehicular (including, without limitation, delivery trucks and such other trucks as are required for the construction and maintenance of the roadway and all other vehicles involved in permitted uses described below) and pedestrian access, ingress to and egress from the Grantee Parcel over and across the Easement Area, as well as for purposes of repairing, replacing and maintaining the roadways and any other associated improvements. The use of such roadways by Grantee shall be limited to purposes reasonably relating to the open space uses of the Grantee Parcel and as otherwise permitted by or described in this Agreement. Grantee acknowledges Grantor's predecessor in interest previously granted to the Capistrano Unified School District (the "School District") a nonexclusive easement within the portion of the Easement Area from La Pata Avenue to the San Juan Hills High School property for purposes of ingress and egress as further described in that certain Access Easement recorded April 30, 2003, as Instrument No. 2003000487414 of Official Records of the County of Orange (the "School District Easement"). The use of such roadways by Grantee or any Grantee Party shall not interfere with or impede the use of the portion of the Easement Area by the School District as described in the School District Easement. 1.3 Duration and Termination. This Agreement and the easement granted by this Agreement shall remain in effect in perpetuity, unless sooner terminated by mutual agreement of the then current owners of the Grantee Parcel and the Grantor Parcel or, in the event an access road is offered for dedication to a public agency, termination shall occur solely as to such road upon dedication thereof to the City of San Juan Capistrano, the County of Orange or other public agency. Such termination (unless and to the extent by dedication) shall be evidenced by a written termination agreement signed by the then current owners of both the Grantee Parcel and the Grantor Parcel, and shall be effective on the date of recording of such termination agreement in the Official Records of Orange County, California. Termination shall be automatic as to any applicable access road, without further action of Grantor or Grantee, if and to the extent of dedication of such access road, provided Grantor and Grantee shall record a written termination upon the request of either party. 1.4 Easement Appurtenant. The easement granted by this Agreement shall be appurtenant to the Grantee Parcel. The easement granted pursuant to this Agreement shall be nonexclusive and for the use and benefit of each Grantee Party in common with Grantor and its licensees, permittees, successors and assigns. This Agreement is not intended to grant a fee interest in the Grantor Parcel, nor is it intended to be a lease or a license. 2. Insurance. (to be determined] Grantee shall maintain a comprehensive liability policy in such amounts as may be commonly carried by owners of similar properties that shall protect the Grantee and its officers, employees and agents from claims, losses or damages arising out of the acts or omissions of the Grantee Parties occurring in the Easement Area. All such policies shall name the Grantor as an additional insured. Grantor acknowledges that the insurance to be procured by Grantee hereunder may not be a separate policy insuring the Easement Area, but that the Easement Area may be insured as part of the insurance policy covering other real property interests of Grantee. 3. Indemnification. [to be determined] Grantee shall indemnify, defend and hold Grantor harmless from and against any and all liability, loss, damage, cost or expense (including, but not limited to, reasonable attorneys' fees and court costs) arising from or in connection with the Grantee's or any Grantee Parties' use of the Easement Area, provided that no indemnification is given for any of the foregoing resulting from Grantor's, or Grantor's representatives', agents', assigns', employees', consultants' or officers' negligence or willful misconduct. 4. Binding Effect. This Agreement shall be binding on and shall inure to the benefit of the successors, and assigns of Grantor and Grantee. 5/25/11 9130.2 #96659 v8 2 5. Attorneys' Fees. If any legal action or proceeding arising out of or relating to this Agreement is brought by either party to this Agreement, the prevailing party shall be entitled to receive from the other party, in addition to any other relief that may be granted, the reasonable attorneys' fees, costs, and expenses incurred in the action or proceeding by the prevailing party. 6. Recordation of Agreement. This Agreement shall be recorded in the Official Records of Orange County, State of California, and shall serve as notice to all parties succeeding to the interest of the parties hereto that their use of the Grantee Parcel and Grantor Parcel shall be benefited or restricted, or both, in the manner herein described. 7. Entire Agreement; Amendments. This Agreement and that certain Agreement Regarding Access Easement contain the entire agreement of the parties hereto relating to the easement herein granted. Any representations or modifications concerning this Agreement shall be of no force and effect, accepting a subsequent modification in writing, signed by all of the then current owners of the Grantee Parcel and the Grantor Parcel and recorded in the Official Records of Orange County, State of California. 8. Warranty of Authority. Grantor hereby represents and warrants to and for the benefit of Grantee that (i) Grantor has full power and authority to place the encumbrance of this Agreement on the Grantor Parcel, (ii) Grantor has not conveyed (or purported to convey) any right, title or interest in or to the Grantor Parcel except as has been disclosed herein, and (iii) if necessary or appropriate, Grantor has the written consent of any lenders, tenants and subtenants of the Grantor Parcel to the terms and conditions of this Agreement. 9. Notices. All notices, demands, solicitations of consent or approval, and other communications hereunder required or permitted shall be in writing and shall be deemed to have been given (i) when personally delivered or telecopied, (ii) one (I) business day after the date when deposited with an overnight courier or (iii) three (3) business days after the date when deposited in the United States mail and sent postage prepaid by registered or certified mail, return receipt requested, addressed as follows: 5/25/11 9130.2 #96659 v8 If to Grantor: with a copy to: lfto G""antee: Rancho San Juan Development LLC c/o Woodbridge Homes 27285 Los Rambles, Suite 260 Mission Viejo, CA 92691 Attention: Todd Cunningham, Manager Telephone No.: 949/493-1171 Facsimile No.: 949/661-5451 E-mail: tcunningham\a)woodbridgehomes.corn IHP Capital Partners 19800 MacArthur Blvd., Suite 700 Irvine, CA 92612 Attention: Jay W. Pruitt, Partner/Senior Vice President Telephone: 949/655-7605 Email: ------- City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attention: City Manager/City Clerk 3 with a copy to: Attention: Telephone No.: ___________ _ Facsimile No.: E-mail: --------------- One Party may change its address for notice purposes under this Agreement by giving the other Party written notice of such change in the manner prescribed above. 10. Counterparts. This Agreement may be signed m multiple counterparts which, when signed by all parties, shall constitute a binding agreement. 5/25/11 9130.2 #96659 v8 [Signature Page Follows] 4 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written. "GRANTEE" CITY OF SAN JUAN CAPISTRANO By: Name: City Manager APPROVED AS TO FORM: By: City Attorney 5/25111 9130.2 #96659 v8 5 "GRANTOR" RANCHO SAN JUAN DEVELOPMENT LLC, a Delaware limited liability company By: Woodbridge Builders, LLC, a Delaware limited liability company, Its: Managing Member By: Woodbridge Communities II, LLC, a Delaware limited liability company, Its: Member By: ______________________ ___ Todd Cunningham, Manager STATE OF CALIFORNIA ) ) ss COUNTY OF -------------------) On , before me, , a Notary Public, personally appeared , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Notary Public 5/25/11 9130.2 #96659 v8 6 EXHffiiTA GRANTOR PARCEL Parcel 1 of Lot Line Adjustment LLC 2003-004 recorded as Instrument No. 2003000294469 Official Records, together with the "Remainder Parcel" of Tract 16634 in the City of San Juan Capistrano per Map filed in Book 884, Pages 33 through 50, inclusive; of Miscellaneous Maps, both recorded in the Office of the County Recorder of Orange County, State of California. 5/25111 9130.2 #96659 v8 A-1 5/25/11 9130.2 #96659 v8 EXHffiiTB GRANTEE PARCEL [INSERT LEGAL DESCRIPTION] B-1 5/25111 9130.2 #96659 v8 EXHffiiTC EASEMENT AREA LEGAL DESCRIPTION [ATTACHED] C-1 5/25/11 9130.2 #96659 v8 EXHIBIT "C" Easement for Street and Utility and Access Road And Recreational Trail Purposes (Secondary High School Access Street) (City Open Space Access Road and Recreational Trail) That portion of Parcel 1 of Lot Line Adjustment LLA 2003-004 recorded as Instrument No. 2003000294469, Official Records, together with that portion of the "Remainder Parcel" of Tract 16634 in the City of San Juan Capistrano per map filed in book 884, pages 33 through 50 inclusive of miscellaneous maps, both recorded in the office of the county recorder of Orange County, State of California, being more particularfy described as follows: Beginning at the northwest comer of said Parcel 1 ; Thence North 68°13'09" East 25.02 feet to a line that is parallel with and 25 feet northeast of the southwesterly line of said Parcel 1; Thence along said parallel line, South 19°17'33" East 551.08 feet; Thence North 67°41'26" East 232.51 feet to the beginning of a tangent curve, concave northwesterly having a radius of 60.00 feet; Thence northeasterly along said curve a distance of 51.62 feet through a central angle of 49°17'24" to a point on the southwesterly right-of-way line of La Pata Avenue (50 foot half width) as shown on said aforementioned Lot Line Adjustment 2003-004; Thence along said right-of-way line, South 21°46'51" East 46.87; Thence leaving said right-of-way line, South 67°41'26" West 204.91 feet; Thence South 52°56'08" West 1 03.87 feet to a point on the southwesterly line of said Parcel 1 of said LLA 2003-004; Thence along said southwesterly line North 19°17'33" West 578.84 feet" Thence leaving said southerly line of said Parcel 1, South 70°42'27" West 25.00 feet to a line that is parallel with and 25 feet southwesterly of the aforementioned southerly line of said Parcel 1 ; Thence along said parallel line, North 19°17'33" West 58.13 feet to the northwesterly line of said "Remainder Parcel" of Tract 16634; C-2 5/25111 9130.2 #96659 v8 EXHIDITD EASEMENT AREA MAP. [ATTACHED] 0-1 5/25/11 9130.2 #96659 v8 N EXHIBIT "0" IN THE CITY OF SAN JUAN CAPISTRANO, COUNTY OF ORANGE, STATE OF CALIFORNIA DRWN BY _.PK......,._C _____ DATE .... ., CHKD BY .JA DATE ..... ., D-2 \ \ \~ '1) \ \~ \,. \ I SHEET 1 OF 1 \ w.o 267-3 EXHIBITD ACCESS ROAD SPECIFICATIONS A road 22" in width consisting of an 8" base and 4" asphalt surface [MORE TO COME] 5/26/11 9130.2 #96779 v7 D-1 JOINT CO:M:MUNITY FACILITIES AGREEMENT among CAPISTRANO UNIFIED SCHOOL DISTRICT and CITY OF SAN nJAN CAPISTRANO and WHISPERING HILLS, LLC relating to CO:MMUNITY FACILITIES DISTRICf NO. 2005-1 OF THE CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERJNG HILLS) DOCSOC/1 I 03 616v2/22508-0042 ATIACHMENT 2 JOINT COMMUNITY FACILITIES AGREEMENT TinS JOINT COMMUNITY FACILITIES AGREEMENT (the "Agreement") is entered into effective as of the 1st day of July, 2005 (the "Effective Date"), by and among the CAPISTRANO UNIFIED SCHOOL DISTRJCT, a public entity, (the "School District''), and the CITY OF SAN JUAN CAPISTRANO, a municipal limited liability company (the "City''), and WHISPERING HILLS, LLC, a California limited liability company (the "Company"), and relates to the proposed formation of COMMUNITY FACILITIES DISTRICT NO. 2005-1 OF THE CAPISTRANO UNIFIED SCHOOL DISTRICT (WHISPERING HILLS) (the "District''). g_gC!IAL.S.: A. The Company is the owner of all of the land within the Assessor's Parcel Numbers listed on Exhibit "A" hereto in the incorporated territory of the City of San Juan Capistrano, State of California (the "Property") and which is proposed to constitute the land within the boundaries of the District. Such boundaries are shown on the map included in Exhibit "A" attached hereto, which is incorporated by reference herein. B. The Company is the developer of the Property and has obtained the necessary development approvals to construct approximately 155 residential units on the Property and to provide the required infrastructure for such units, including schools to be owned and operated by the. School District (the "School Facilities") and certain roadway, water, sewer, and storm drain and improvements to be owned and operated by the City which are descn'bed in Exhibit B hereto and incorporated by reference herein (the "City Facilities"). The City Facilities and the School Facilities are sometimes collectively referred to herein as the "Facilities". The City Facilities are to be financed in lieu of the payment of certain fees imposed by the City as a condition of development of the property within the proposed boundaries of the District. C. It is expected that the cost of the School Facilities will exceed the cost of the City Facilities, therefore the School District is permitted to have primary responsibility for the formation and administration ofthe District. D. The Company has requested the Board of Trustees of the School District (the "Board of Trustees") to fonn and establish the District pursuant to the provisions of the Mello-Roos Community Facilities Act of 1982, Chapter 2.5 (commencing with Section 53311) of Part 1 of Division 2 of Title 5 of the California Government Code (the "Act"). E. The provision of the School Facilities and the City Facilities is necessitated by the development of the land within the District and the parties hereto find and determine that the residents of the City, the School District and the District will be benefited by the construction and/or acquisition of the City Facilities and the School Facilities and that this Agreement is beneficial to the interests of such residents. F. The parties hereto intend to have the District assist in financing the City Facilities by disbursing District bond construction proceeds in an amount which is estimated at $12,200,000 (the "City Facilities Amount") at the written request to the District of the City to finance the construction and/or acquisition of the City Facilities. DOCSOC/11 03616v2122508-0042 G. The City is authorized by Section 53313.5 of the Act to assist in the financing of the acquisition and/or construction of the City Facilities and the School District is authorized to assist in the fmancing of the School Facilities. This Agreement constitutes a joint community facilities agreement, within the meaning of Section 53316.2 of the Act, by and among the City, the Company and the School District, pursuant to which the District when formed will be authorized to finance the construction and/or acquisition of the City Facilities in the City Facilities Amount. As authorized by Section 53316.6 of the Act, responsibility for constructing, providing and operating the School Facilities is delegated to the School District and responsibility for constructing, providing for and operating the City Facilities is delegated to the City to the extent set forth herein. H. Pursuant to Government Code Section 53314.9, the Board ofTrustees ofthe School District is authorized to accept advances of funds from any source, including, but not limited to, private persons or private entities, and may provide, by resolution, for the use of those funds for any authorized purposes, including, but not limited to, paying any costs incurred by the local agency in creating a district. The legislative body may also enter into an agreement, by resolution, with the person or entity advancing the funds, to repay all or a portion of the funds advanced provided that certain conditions are met. The conditions to be satisfied require that (1) the proposal to repay the funds must be included in the resolution of intention for the proposed district and in the resolution of fonnation for the proposed district and (2) that any proposed special tax is approved by the qualified electors of the district pursuant to the Act and that if not approved any funds which have not been committed for any authorized purpose by the time of the election must be returned to the person or entity advancing funds. · NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereto agree as follows: 1. Recitals. Each of the above recitals is incorporated herein and is true and correct 2. Proposed Formation of District. At the request of the Company, the School District will undertake to analyze the appropriateness of forming a community facilities district to finance the Facilities. The School District will retain, at the Company's expense, the necessary consultants to analyze the proposed fonnation of the District, including an engineer, special tax consultant, bond counsel, appraiser and other consultants deemed necessary by the School District. 3. Sale of Bonds and Use ofProceeds. In the event the District is formed, the Board of Trustees of the School District acting as the legislative body of the District may, in its sole discretion, finance the design, construction and acquisition of the School Facilities and the City Facilities by issuing bonds (the "Bonds") and levying special taxes of the District. If any Bond proceeds are escrowed, after payment of the costs of issuing the Bonds, there shall first be reserved from the Bond construction proceeds the amount identified in the bond indenture to be hereafter executed in connection with the issuance of the Bonds (the "Bond Indenture") to finance the School Facilities. The District anticipates that proceeds from the sale of District Bonds shall be available for the City Facilities substantially in accordance with this Section 3, however, release of Bond proceeds to the City for City FaciE ties may be subject to escrow release tests to be established in the Bond Indenture, and the terms of such escrow release test shall be as the District shall determine, in its sole discretion, to be reasonably appropriate in order to comply with the School District's Statement of Local Goals 2 DOCSOC/1 1 03 616v2/22508-0042 -----·-··----------·--------_ .. _ and Policies and municipal bond industry standards for land-secured financings. The District shall maintain records relating to the disbursements of proceeds of the sale of~e District Bonds. Whether or not Bond proceeds are escrowed pursuant to the Bond Indenture, on the date that all or a portion of the City Facilities Amount is deposited into the City Facilities Account of the Acquisition and Construction Fund hereafter established pursuant to the Bond Indenture (the "City Facilities Account'') and the City Facilities Amount is known, the City, the District and the Company shall agree as to which City Facilities listed in Exhibit B will be financed and in what amount. Once the City Facilities to be financed are identified, and so long as sufficient Bond proceeds are deposited in the City Facilities Account, the City shall provide a dollar for dollar credit in respect of the fees imposed by the City for the City Facility financed (as shown on Exhibit B) for every dollar of Bond proceeds available to pay costs of the corresponding City Facilities. The credit shall be given in the amount on deposit in the City Facilities Account on the date such amount is deposited in the City Facilities Account. To the extent that the Bond proceeds are not sufficient to pay all of the fees imposed by the City on the development, the Company shall be responsible to pay the remaining amounts when and as due in accordance with· the City's policies. The City and the Company will execute such certifications and other documentation as each may reasonably require to implement the provisions of the preceding sentence. The Company acknowledges that the acquisition of the City Facilities, inch~ding the amount and timing for the delivery of all funding, including the City Facilities Amount, required for the City Facilities shall be in all respects subject to the sole discretion and approval of the City and the School District, as applicable, and neither the City nor the School District shall be liable for the failure to issue bonds or the failure to issue bonds in an amount sufficient to pay for all or any part of the School Facilities and City Facilities. In no event will an act, or an omission or failure to act, excepting only in the event of willful misconduct, by the City or the District with respect to the disbursement or nondisbursement of funds pursuant to this Agreement or by the District with respect to the provision of any other funding for the School Facilities or the City Facilities subject the District, the School District or the City to pecuniary liability hereunder. The Bonds shall be issued only if in its sole discretion the Board of Trustees detennines that all requirements of state and federal law and all School District policies and any applicable City policies have been satisfied or in the case of the policies waived by the School District or the City, as applicable. In no event shall the Company have a right to compel the issuance ofthe Bonds. 4. Disbursements. (a) District Bond proceeds designated for the City Facilities shall be held, together with all District Bond proceeds designated for the acquisition and/or construction of School Facilities, by the fiscal agent for the District (the ''Fiscal Agent") in a special fund (the "Acquisition and Construction Fund") which shall be invested by the Fiscal Agent and earn and accumulate its own interest. The District shall designate in the Acquisition and Construction Fund an amount equal to the City Facilities Amount as funds available solely for City Facilities, and all moneys in the Acquisition and Construction Fund designated for the City Facilities shall at all times be available for the City Facilities except to the extent the School District detennines interest earnings must be rebated to the United States in accordance with the Internal Revenue Code of 1986, as amended. 3 DOCSOC/1 I 0361 6v2122508-{)042 (b) The Fiscal Agent shall make disbursements from the Acquisition and Cons1ruction Fund in accordance with the tenns of this Agreement and neither the School District nor the District shall be responsible to the City for costs incurred by the City as a result of withheld or oelayed payments. ,, (c) The City agrees that prior to requesting payment from the District it shall review and approve all costs included in its request and (a) will have already paid such costs of City Facilities from its own funds or shall have prepared a check for disbursement which will be mailed or hand delivered within 48 hours of receipt of District funds or (b) will have already encumbered the funds requested and will trace and remit to the District all earnings, if any, by the City in excess of the yield on the applicable District Bonds accruing from the investment of the District Bond proceeds requested, from the date of receipt of such District Bond proceeds by the City to the date of expenditure by the City of such District Bond proceeds for actual legitimate capital costs of the City Facilities. Such remittance, if any, shall occur on the earlier of the date of expenditure of such District Bond proceeds or each anniversary date of the transfer of such District Bond proceeds from. the District to the City. The City agrees that in processing the above disbursements it will comply with all legal requirements for the expenditure of bond proceeds under the Act, as amended, and the Internal Revenue Code of 1986 and any amendments thereto. (d) The City agrees to maintain adequate internal controls over its payment function and to maintain accounting records in accordance with generally accepted accounting procedures. The City will, upon request, provide to the District its annual :financial report certified by an independent certified public accountant for purposes of calculating the District's arbitrage rebate obligations. The District shall have the right to conduct its own audit of the City's records at reasonable times and during normal business hours. (e) The City shall submit a request for payment to the Fiscal Agent which shall be in the form attached hereto as Exhibit "C", which shall be signed by its City Manager or written designee and which shall be for the exact amount paid or encumbered or to be disbursed as provided in paragraph {d) above by the City for City Facilities costs under paragraph (c) above, which costs shall in no event exceed the City Facilities Amount Upon receipt of an approved payment request completed in accordance with the terms of this Agreement, the Fiscal Agent shall wire transfer such portion of requested funds as are then available for release pursuant to the Bond Indenture to the City's bank account, as directed by the City. 5. Construction. The City will complete the plans and specifications for construction of the City Facilities (hereinafter the "Plans and Specifications") in a form and substance which is satisfactory to the City. The Company acknowledges that none of the City, the School District nor the District has any obligation to pay any amount in excess of the City Facilities Amount for the City Facilities, regardless of the cost to construct the City Facilities. The Company agrees hereby that it will be solely responsible to pay any and all City fees relating to the development of the Property in excess of the City Facilities Amount. 6. Ownership of Facilities. Notwithstanding the fact that some or all of the City Facilities may be constructed in dedicated street rights-of-way or on property which has been or will be dedicated to the City of San Juan Capistrano or any other entity, the City Facilities shall be and remain the property of the City. 4 DOCSOC/11 03616v2/22508-0042 ---····--·-------·-----. ---------·--- 7. Indemnification. The School District shall assume the defense o:t: indemnify and save hannless, the City, its officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of, or resulting from, this Agreement, and the design, engineering and construction of the School Facilities. No provision of this Agreement shall in any way limit the extent of the School District's responsibility for payment of damages resulting from the operations of the School District and its contractors; provided, however, that the School District shall not be required to indemnify any person or entity as to damages resulting from negligence or willful misconduct of such person or entity or their agents or employees. The City shall assume the defense of: indemnify and save harmless, the School District, its officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason of, or resulting from, this Agreement, and the design, engineering and construction of the City Facilities. No provision of this Agreement shall in any way limit the extent of the City's responsibility for payment of damages resulting from the operations of the City and its contractors; provided, however, that the City shall not be required to indemnify any person or entity as to damages resulting from negligence or willful misconduct of such person or entity or their agents or employees. Company shall assume the defense o:t: indemnify and save hannless, School District, the District and the City, their respective officers, employees and agents, and each and every one of them, from and against all actions, damages, claims, losses or expenses of every type and description to which they may be subjected or put, by reason o:t: or resulting from, any act or omission of Company with respect to Company's obligations under this Agreement; provided, however, that Company shall not be required to indemnify any person or entity as to damages resulting from negligence or willful misconduct of such person or entity or their officers, agents or employees. 8. Disclosure. The Company shaH cooperate with the District and the School District in complying with the requirements of Rule 15c 12-12 of the Securities and Exchange Commission in connection with the issuance and sale of the Bonds. The Company shall provide information to the District and the School District regarding its operations and financial condition, including, if available, an audited financial statement for its most recently completed fiscal year, for use in drafting the preliminary official statement and the final official statement for the Bonds. The Company acknowledges that, due to the extent of its initial property ownership in the District, it will be an "obligated person" for purposes of compliance with Rule 15c12-12(b)(5) of the Securities and Exchange Commission and that it will therefore be necessary that Company enter into a continuing disclosure undertaldng that so long as it remains an obligated person it will annually, at the time specified in such undertaking, provide information to the District and the School District regarding the Company's financial condition, including, if available, audited financial statements, to be included in the annual reports which the District will file with the Nationally Recognized Municipal Securities Repositories which are identified by the Securities and Exchange Commission and any state information depository that may be designated for the State of California, as required by that rule. The Company further acknowledges that it will be an obligated person pursuant to such rule as long as it owns property within the District that is responsible for the payment of annual special tax installments which represent 10 percent or more of the annual debt service on the outstanding Bonds. 9. Allocation of Special Taxes. Upon sale and delivery of the Bonds, or such earlier date as the District, in its sole discretion, determines appropriate, the Board of Trustees, as the legislative body of the District, shall annually levy a special tax as provided for in the formation 5 DOCSOC!ll03616v2/22508-0042 proceedings of the District. The entire amount of any special tax levied by the District to repay the Bonds, or to fund other obligations, shall be allocated to the District. 10. Amendment. This Agreement may be amended at any time but only in writing signed by each party hereto. 11. Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the matters provided for herein and supersedes all prior agreements and negotiations between the parties with respect to the subject matter of this Agreement. 12. Notices. Any notice, payment or instrument requireq or permitted by this Agreement to be given or delivered to either party shall be deemed to have been received when personally delivered or seventy-two hours following deposit of the same in any United States Post Office in California, registered or certified, postage prepaid, addressed as follows: School District/District: City of San Juan Capistrano Company: Capistrano Unified School District 32972 Calle Perfecto San Juan Capistrano, California 92675 Attn: Deputy Superintendent, Business Services City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, California 92675 Attn: City Manager Whispering Hills, LLC c/o Concorde Development 19700 Fairchild, Suite 120 Irvine, CA 926120 Attn: Dennis Gage, President Each party may change its address for delivery of notice by delivering written notice of such change of address to the other parties hereto. 13. Exhibits. All exhibits attached hereto are incorporated into this Agreement by reference. 14. Severability. If any non-material part of this Agreement is held to be illegal or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall be given effect to the fullest extent reasonably possible. 15. Governing Law. This Agreement and any dispute arising hereunder shall be governed by and interpreted in accordance with the laws of the State of California. 16. Waiver. Failure by a party to insist upon the strict performance of any of the provisions of this Agreement by the other parties hereto, or the failure by a party to exercise its rights upon the default of another party, shall not constitute a waiver of such party's right to insist and demand strict compliance by such other parties with the terms of this Agreement thereafter. 6 DOCSOC/1 l 03616v2/22508-0042 ------------· .. ···-··-. -------------------····---------------------·· -----··------- 17. No Third party Beneficiaries. No person or entity shall be deemed to be a third party beneficiary hereof, and nothing in this Agreement (either express or implied) is intended to confer upon any person or entity, other than the City, the School District, the District and the Company (and their respective successors and assigns), any rights, remedies, obligations or liabilities under or by reason of this Agreement 18. Singular and Plural: Gender. As used herein, the singular of any word includes the plural, and terms in the masculine gender shall include the feminine. 19. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall constitute but one instrument. 7 DOCSOC/11 0361 6v2/22508-0042 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. ATTEST: By: -JC') )::!.!.!!::L.~~~~l.daa~~ Cle ofthe Board ofTrustees ofthe o Unified School District ATTEST: Approved as to form: DOCSOC/!1 03616v2122508-0042 CITY OF SAN JUAN CAPISTRANO By:~~ Its: City Manager WHISPERING HILLS, LLC, a Delaware limited liability company By: Concorde Development, L.P ., S-8 a California limited partnership, as Managing Member By: Ferrari Investments, a California corporation, ··~~ By:_:J; Denms Gage, President EXHIBIT A DESCRIPTION OF PROPERTY The real property to be included within Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills): That certain parcel of land situated in the City of San Juan Capistrano, County of Orange, State of California described as follows: · B-1 DOCSOC/1 I 036 J 6v2/22508-0042 EXHIBITB DESCRIPTION OF CITY FACILITIES The following improvements are eligible City Facilities: May 16,2005 Description Agency School Fee CUSD Ambuehl CUSD Stadium Lights CUSD Pool CUSD Additional School Facilities (Road) CUSD CUSD Subtotal Traffic Mitig_ation Fee City Park Fee City San Juan AG Preserve CitY San Juan Water Capacity Fee City. San Juan Water Meter City San Juan Water Capital Improvement Charg_e City_ San Juan Water Stora_ge Fee City San Juan Drainage Fee City San Juan Fee Ordinance No. 211 City San Juan Fee Ordinanc·e No. 364 City San Juan Sanitation District (Sewer) Fee q_ty Street Improvements City Grading City Sewer City Water Cfur Reclaimed Water City Storm Drain Costs Ci!Y Engineering Costs @ 15% City City Payment (10% ofPro~s Allo~able to Non-CUSD facilities) City CLty Subtotal Grand Total (a) Amount does riot include facilities to be funded from pay as you go revenues. B-2 DOCSOC/11 03616v2/22508-0042 Estimated Budget $ 2,355,900 500,000 700,000 1,800,000 1,500,000 $ 6,855,9ootaJ $ 1,144,985 1,798,000 77,500 578,232 31,000 311,240 217,000 181,350 7,750 575,625 490,575 494,651 1,530,071 228,800 646 500 236,762 1,766,134 735,438 1 227 957 $_ 12 279 570 $_ 19.135.470 ---·--------------------------.. · ------------·----------. EXIDBITC DISBURSEMENT REQUEST FORM CITY OF SAN JUAN CAPISTRANO WHISPERING HILLS PLANNED COMMUNITY Community Facilities District No. 2005-1 of the Capistrano Unified School District (Whispering Hills) ("CFD No. 2005-1") is hereby requested to pay from the Acquisition and Construction Fund established by Bond Indenture (the "Bond Indenture") of the Board ofTrustees of the Capistrano Unified School District in connection with its CFD No. 2005-1 Series 200_ Special Tax Bonds (the "Bonds"), to the City of San Juan Capistrano (the "City"), as Payee, the sum set forth below in payment of project costs described below. The undersigned certifies that the amount requested has been expended or encumbered for the purposes of constructing and completing City Facilities. The amount requested is due and payable under, or is encumbered for the purpose of funding, a purchase order, contract. or other authorization with respect to the project costs described below and has not formed the basis of prior request or payment. The City agrees to trace and remit to CFD No. 2005-1 all earnings, if any, in excess of the yield on the Bonds accruing from the investment of the amounts requested herein, from the date of receipt by the City of such amounts to the date of expenditure of such amounts by payment thereof to a third party for the costs set forth below. Such remittance, if any, shall be made each year on the earlier of the expenditure of such amounts or the anniversary date of the transfer of the requested amounts by CFD No. 2005-1 to the City. Total payments to the City from the Acquisition and Construction Fund have not exceeded $ __ . Description of City Facilities Costs: Amount requested: ·$ _____ _ The amount of $ is authorized and payable pursuant to the terms of the Resolution and th~ Joint Community Facilities Agreement among CFD No. 2005-1, Whispering Hills, LLC, and the City of San Juan Capistrano dated as of 1, 2005. Executed by an authorized representative of the City of San Juan Capistrano. By. ________________________ ___ Name: _____________ _ Title: _____________ _ Date:-------------- Request No. ___________ _ Attest: _____________ _ DOCSOC/11 03616v2122508-0042 )> ~ ( ) I ~ m z -I w TA X SP R E A D : 12 ©D A V I D TA U S S I G AN D AS S O C I A T E S , IN C . 27 - J u l - 0 6 Ol 06 PM LA N D US E AS S U M P T I O N S BU I L D O U T PE R I O D (Y E A R S FR O M 20 0 6 ) (4 } TO T A L RE S I D E N T I A L UN r T s (1J CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L (> 5 30 0 SF ) CL A S S 3 RE S I D E N T I A L (5 10 1 - 5 , 3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 . 9 0 1 - 5,1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 - 4,9 0 0 SF ) CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4 . 7 0 0 SF ) CL A S S 7 RE S I D E N T I A L (4 30 1 - 4,5 0 0 SF ) CL A S S 8 RE S I D E N T I A L (S : 4 , 3 0 0 SF ) NO N - R E S I D E N T I A L AC R E A G E AC R E A G E SU M M A R Y (1 , 6] GR O S S AC R E A G E AS S O C I A T I O N AN D pp B L I C PR O p E R T Y AC R E A G E NE T TA X A B L E AC R E A G E [1 ] CU S T O M LO T NE T TA X A B L E AC R E A G E Al l OT H E R RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X CL A S S CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L ( > 5,3 0 0 SF ) Cl A S S 3 RE S I D E N T I A L (5 , 1 0 1 - 5,3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5,1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 . 70 1 -4 , 9 0 0 SF ) Cl A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4,7 0 0 SF ) ClA S S 7 RE S I D E N T I A L (4 , 3 0 1 - 4,5 0 0 SF ) CL A S S 8 RE S I D E N T I A L (:!0 4,3 0 0 SF ) NO T E S : E T R -E t r s c t l v s Ta K Ra t e {1 ) Pro v r d e d by IM ! i s p e r r n g HI/ I s Es t a t e s & DP F G {2) Ba s e d on cu " e n t pro p e r t y ta x bil l s 15 5 15 35 23 21 33 0 28 0.0 0 27 8 . 1 1 ~ 55 . 6 5 3 00 52 . 6 5 {31 Bo n d e d ln d e b t e d n t J S s lJ t n o u r i as s u m e s th a t a 3 to 1 la n d va l u e to lie n ra t w is sa t t s f i e d {4 ] Ba s e d on in f o r m a t J o n da t e d 71 1 9 1 2 0 0 6 pr o v i d e d by To l l Bro t h e r s In c [5 ) £T R ba s e d on ba s s sa l e s pn c e s {8 ) Ac r s a ! p l md u d e s Fu t u r e An n e x a t t o n Ar e a FY 20 0 5 - - 2 . 0 0 6 MI N I M U M BA S E PR I C E [4 1 $3 . 5 0 0 , 0 0 0 $1 , 8 5 0 , 0 0 0 $1 . 7 2 5 , 0 0 0 NA $1 , 6 5 0 , 0 0 0 $1 , 5 7 5 , 0 0 0 NA $1 . 3 2 5 , 0 0 0 PR O P O S E D SP E C I A L TA X E S AN D BO N D E D IN D E B T E D N E S S CO M M U N I T Y FA C I L I T I E S DI S T R I C T NO . 20 0 5 - 1 (W H I S P E R I N G HI L L S ) CA P I S T R A N O UN I F I E D SC H O O L DI S T R I C T (2 . 0 % In c r e a s i n g De b t Se r v i c e an d Sp e c i a l Ta x e s ) BO N D AS S U M P T I O N S AV E R A G E CO U P O N BO N O TE R M (Y E A R S ) CO S T S OF IS S U A N C E I DIS C O U N T RE S E R V E FU N D CA P I T A L I Z E D IN T E R E S T (2 4 MO N T H S ) OT H E R AS S U M P T I O N S RE I N V E S T M E N T IN T E R E S T RA T E DI S C O U N T RA T E FO R NP V AN A L Y S I S PR O P E R T Y IN F L A T I O N RA T E AD M I N I S T R A T I O N EX P E N S E IN F L A T I O N RA T E SP E C I A L TA X AS S U M P T I O N S fF Y 20 0 5 : : 2 0 0 6 1 DE V E L O P E D EQ U I V A L E N T DW E L L I N G UN I T NO N - R E S I D E N T I A L AC R E UN D E V E L O P E D AC R E BA C K UP TA X PE R RE S I D E N T I A L AC R E (E X C L U D E S CU S T O M LO T S CU S T O M LO T BA C K UP TA X PE R UN I T %S P E C I A L TA X IN C R E A S E PR I O R TO BU I L D I N G PE R M I T %S P E C I A L TA X IN C R E A S E AF T E R BU I L D I N G PE R M I T %L E V Y OF MA X I M U M TA X SE R I E S 20 0 7 6 25 % 30 40 1 % 10 00 % 11 6 3 % 2.5 0 % 6.2 5 % 2.0 0 % 2 00 % NA $4 1 1 8 0 $3 7 . 2 2 0 $4 1 . 1 8 0 $1 4 . 2 8 0 2.0 0 % 2.0 0 % 10 0 % SU M M A R Y OF TA X CO M P U T A T I O N S PR O J E C T E D SP E C I A L TA X (F I S C A L YE A R 20 0 5 - 2 0 0 6 ) SP E C I A L TA X ~ TO T A L E T R rsJ $0 0.0 0 0 0 % 1.0 4 7 9 % so so so so so so so 0 00 0 0 % 0.0 0 0 0 % NA 0.0 0 0 0 % 0.0 0 0 0 % NA 0.0 0 0 0 % 1.0 4 8 3 % 1. 0 4 8 4 % NA 1.0 4 8 4 % 1. 0 4 8 5 % NA 1.0 4 8 7 % MA J O R CO N C L U S I O N S TO T A L BO N D E D IN D E B T E D N E S S (J ] TO T A L BO N D FI N A N C E D FA C I U T I E S $2 5 , 7 3 5 , 0 0 0 $1 $ , 1 3 5 , 4 7 0 TO T A L DE B T SE R V I C E & AD M I N I S T R A T t o N PA Y - A S - Y O U - G O FU N D S MI S C E L L A N E O U S RE V E N U E S TO T A L NE T bE B T se R V I C E - - $6 4 , 7 9 4 , 8 4 8 $1 1 , 9 4 9 . 2 6 2 f$ 7 , 4 2 3 . 2 6 1 ) $8 9 , 3 2 0 , 8 5 0 - EX I S T I N G FY 2 Q 0 5 ~ 6 TA X RATES £21 BA S E PR O P E R T Y TA X RATE SA N JU A N CA P I S T R A N O CITY GO BONOS MW D DE B T SE R V I C E CA P I S T R A N O UN I F I E D SCHOOL DISTRICT SFID NO.1 MO S Q U I T O , FIR E AN T AS S E S S M E N T VE C T O R CO N T R O L CH A R G E MW D ST A N D B Y CH A R G E MIN I M U M DE B T SE R V I C E COVERAGE GR O S S DE B T SE R V I C E COVERAGE NE T DE B T SE R V I C E CO V E R A G E AS S t G N E D SP E C I A L TA X (F I S C A L YE A R 20 0 5 - 2 0 0 6 ) SP E C I A L TA X gJ . B . TO T A L E T R [51 $1 4 , 2 8 0 0. 4 0 8 0 % 1 45 5 9 % $1 2 , 2 6 8 0. 6 6 3 1 % 1.7 1 1 5 % $1 1 , 9 4 3 0. 6 9 2 3 % 1 74 0 7 % $1 1 , 6 1 8 NA NA $1 1 . 1 6 0 0. 6 7 6 4 % 1.7 2 4 8 % $1 0 , 8 3 5 0.6 8 7 9 % 1.7 3 6 4 % $1 0 . 5 0 2 NA NA $1 0 . 1 7 7 0. 7 6 8 1 % 1.8 1 6 8 % DE V E L O P E D RE S I D E N T I A L SP E C I A L TA X E S DE V E L O P E D NO N - R E S I D E N T I A L SP E C I A L TAXES UN D E V E L O P E D SP E C l A L TA X E S TO T A L SP E C I A L TA X E S - - - NP V OF UN D E V E L O P E D SP E C I A L TA X E S (0 6 $ ) NP V OF PA Y - A S - Y O U ~ FU N D S (0 6 $ ) $69,079,661 $0 $241,189 -S69,32a,a5o $193,826 $3,856,792 K ·IC U E N T S 2 \ C A P O .U S O \ M E U . O w m . p h i ' G n p r u d \ T A X S P R E A D _ 1 2 . 1 2 3 DRAFT 1.00000% 0.03140% 0.00520% 0.01078% $5.30 $1.92 $10.08 113 43% 116.04% CU S D CF D No. 20 0 5 - 1 (W l i s p e r i n g Hil l s ) : 12 Dr a f t - Un a u d i t e d Page 2 FIS C A L YE A R - CO L L E C T I O N OF TA X E S 20 0 5 ~ 6 20 0 6 ~ 7 20 0 7 ~ 8 20 0 8 ~ 9 20 0 9 - 1 0 20 1 0 - 1 1 20 1 1 - 1 2 2 0 1 2 - 1 3 20 1 3 - 1 4 2014-15 2015-16 CA L E N D A R YE A R - PA Y M E N T S TO BO N O HO L D E R S 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 2014 2015 2016 I. !;; E Q BQ t : l Q E Q lt: l Q E I U E I : ! t : l E S ! i "M a r c h 20 0 7 " CA P I S T R A N O US D PU B L I C FA C I L I T I E S & FE E S $0 $6 . 8 5 5 . 9 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S $0 $1 2 . 2 7 9 . 5 7 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 PR O C E E D S SU R P L U S I (S H O R T F A L L ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TO T A L FI N A N C E D PU B L I C FA C I L I T I E S $0 $1 9 . 1 3 5 . 4 7 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TO T A L BO N D E D IN D E B T E D N E S S $0 $2 5 . 7 3 5 . 0 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 II . Af ! ! i Q R P T ! Q N - 6U I L D i t ! I G P! ; R M I I ! i {a s of 1/ 1 ) " UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E 55 . 6 51 . 3 32 . 0 11 . 5 2. 2 0.0 0. 0 0. 0 0.0 0.0 0.0 DE V E L O P E D NO N - R E S I D E N T I A L PR O P E R T Y CU M U L A T I V E NO N - R E S I D E N T I A L AC R E A G E 0. 0 0. 0 0.0 0.0 0. 0 0.0 0. 0 0. 0 0.0 0.0 0.0 DE V E L O P E D RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S 0 0 0 3 9 15 15 15 15 15 15 CL A S S 2 RE S I D E N T I A L ( > 5. 3 0 0 SF ) 0 3 15 27 35 35 35 35 35 35 35 CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 - 5.3 0 0 SF ) 0 2 11 20 23 23 23 23 23 23 23 CL A S S 4 RE S I D E N T I A L (4 . 9 0 1 - 5 . 1 0 0 SF ) 0 0 0 0 0 0 0 0 0 0 0 CL A S S 5 RE S I D E N T I A L (4 . 7 0 1 -4 . 9 0 0 SF ) 0 2 10 18 21 21 21 21 21 21 21 CL A S S 6 RE S I D E N T I A L (4 . 5 0 1 - 4. 7 0 0 SF ) 0 3 17 31 33 33 33 33 33 33 33 CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 - 4. 5 0 0 SF ) 0 0 0 0 0 0 0 0 0 0 0 -~ ~ ~ ! ? E N ! I A L (S 4. 3 0 0 S F ) - - - 0 2 13 24 28 28 28 28 28 28 28 CU M U L A T I V E RE S I D E N T I A L UN I T S 0 12 66 12 3 14 9 15 5 15 5 15 5 155 155 155 • Cu s t o m t'lo i T H I S ba s e d up o n la n d sa l e 1 . r. t h e r th a n bl.l l k f 1 n g pe r m i t s . Ill , ME L L Q - R O O S !i P ! ; C I A I . TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $9 3 . 2 5 2 $1 4 7 . 9 3 7 $0 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S $0 $0 $0 $0 $4 6 . 3 7 1 $1 4 1 . 8 9 6 $2 4 1 . 2 2 4 $2 4 6 . 0 4 8 $2 5 0 . 9 6 9 $ 2 5 5 . 9 8 9 $261.109 CL A S S 2 RE S I D E N T I A L (> 5. 3 0 0 SF ) $0 $0 $3 8 . 2 9 1 $1 9 5 . 2 8 3 $3 5 8 . 5 4 0 $4 7 4 . 0 7 0 $4 8 3 . 5 5 2 $4 9 3 . 2 2 3 $5 0 3 . 0 8 7 $513.149 $523.412 CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 -5. 3 0 0 SF ) $0 $0 $2 4 . 8 5 1 $1 3 9 . 4 1 4 $2 5 8 . 5 5 0 $3 0 3 . 2 7 9 $ 3 0 9 . 3 4 4 $3 1 5 . 5 3 1 $3 2 1 . 8 4 2 $ 3 2 8 . 2 7 9 $334.844 CL A S S 4 RE S I D E N T I A L (4 . 9 0 1 - 5. 1 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CL A S S 5 RE S I D E N T I A L (4 . 7 0 1 - 4. 9 0 0 SF ) $0 $0 $2 3 . 2 2 2 $1 1 8 . 4 3 1 $2 1 7 . 4 3 9 $2 5 8 . 7 5 2 $2 6 3 . 9 2 7 $2 6 9 . 2 0 6 $ 2 7 4 . 5 9 0 $280.082 $285.684 CL A S S 6 RE S I D E N T I A L (4 . 5 0 1 - 4. 7 0 0 SF ) $0 $0 $3 3 . 8 1 8 $1 9 5 . 4 6 9 $3 6 3 . 5 7 3 $ 3 9 4 . 7 7 0 $ 4 0 2 . 6 6 5 $4 1 0 . 7 1 8 $4 1 8 . 9 3 3 $427.311 $435.858 CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 -4. 5 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CL A S S 8 RE S I D E N T I A L ( < 4.3 0 0 SF ) $0 $0 $2 1 . 1 7 6 $1 4 0 . 3 9 9 $2 6 4 . 3 8 2 $3 1 4 . 6 1 4 $3 2 0 90 7 $3 2 7 . 3 2 5 $3 3 3 . 8 7 1 $340.549 $347.360 - - - - - - - - - - - - TO T A L SP E C I A L TA X E S $0 $0 $1 4 1 , 3 5 8 $8 8 2 , 2 4 9 $1 , 6 5 6 , 7 9 2 $1 , 8 8 7 , 3 8 2 $2 , 0 2 1 , 6 1 9 $2 , 0 6 2 , 0 5 2 $2 , 1 0 3 , 2 9 3 S2,145,358 S2,188,266 l: i , !i~ f ; ; ! ; ; I A L IA X Bf; ; Q U I B ! ; ; M f ; ; t : l i NE W BO N D E D IN D E B T E D N E S S $0 $2 5 . 7 3 5 . 0 0 0 $0 $0 $0 $0 $0 so $0 $0 so NE W RE S E R V E FU N D $0 $2 . 5 7 3 . 5 0 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 - - - - - - - - - - - - - - - - - - - - - - ------ AN N U A L DE B T SE R V I C E - SE R I E S 20 0 7 $0 $8 0 4 . 2 1 9 $1 . 6 0 8 . 4 3 7 $1 . 6 0 8 . 4 3 7 $ 1 . 6 3 7 . 6 7 9 $ 1 . 6 7 0 . 4 3 2 $1 . 7 0 3 . 8 4 1 $1 . 7 3 7 . 9 1 8 $ 1 . 7 7 2 . 6 7 6 $1.808.130 S1.844.292 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ------- AN N U A L GR O S S DE B T SE R V I C E $0 $8 0 4 . 2 1 9 $1 . 6 0 8 . 4 3 7 $1 . 6 0 8 . 4 3 7 $1 . 6 3 7 . 6 7 9 $ 1 . 6 7 0 . 4 3 2 $1 . 7 0 3 . 8 4 1 $1 . 7 3 7 . 9 1 8 $1 . 7 7 2 . 6 7 6 $1.808.130 $1.844.292 CF D AD M I N I S T R A T I O N $0 $0 $0 $7 8 . 0 3 0 $7 9 . 5 9 1 $8 1 . 1 8 2 $8 2 . 8 0 6 $8 4 . 4 6 2 $8 6 . 1 5 1 $87.874 $89.632 RE S E R V E FU N D IN T E R E S T (6 % DE L I N Q U E N C Y ) $0 $0 $0 $0 ($ 6 0 . 4 7 7 ) ($ 6 0 . 4 7 7 ) ($ 6 0 . 4 7 7 ) ( $ 6 0 . 4 7 7 ) ($ 6 0 . 4 7 7 ) ( $ 6 0 . 4 7 7 ) ($60.477) CA P I T A L I Z E D IN T E R E S T $0 ($ 8 0 4 . 2 1 9 ) ($ 1 . 6 0 8 . 4 3 7 ) ($ 8 0 4 . 2 1 9 ) $0 $0 $0 $0 $0 $0 $0 PA Y - A S - Y O U - G O FU N D S $0 $0 ~ $0 $0 $1 9 6 . 2 4 4 $2 9 5 . 4 4 9 $3 0 0 . 1 4 9 $3 0 4 . 9 4 2 $309.832 $314.819 NE T AN N U A L DE B T SE R V I C E $0 $0 $1 4 1 , 3 5 8 $ 8 8 2 , 2 4 9 $1 , 6 5 6 , 7 9 2 $ 1 , 8 8 7 , 3 8 2 $2 , 0 2 1 , 6 1 9 S2 , 0 6 2 . 0 5 2 $2 , 1 0 3 , 2 9 3 $2,145,358 $2,188,266 AN N U A L SU R P L U S / ( O E F I C I T ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CU M U L A T I V E SU R P L U S / ( D E F I C I T ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 fJ F H T S I : - : R I J t T.\ ( / f f . J . J U U : A S S [ j ) f £ 5 . \ J A R l l / I r!N V S / £ P T £ \ I B £ R /B O . V I l f ' A I . \ 1 £ \ ' T S CU S D CF D No . 20 0 5 - 1 ('M l i s p e r i n g Hil l s ) : 12 Dr a f t - Un a u d i t e d Page3 FI S C A L YE A R -C O L L E C T I O N OF TA X E S 20 0 5 - 4 6 20 0 6 - 4 7 20 0 7 - 4 8 20 0 8 - 4 9 20 0 9 - 1 0 20 1 0 - 1 1 20 1 1 - 1 2 20 1 2 - 1 3 20 1 3 - 1 ( 2014-15 2015-16 CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 0 6 20 0 7 20 0 8 20 0 9 20 1 0 20 1 1 20 1 2 20 1 3 201( 2015 2016 V, AV E R A ! 2 E AN N U A l . SP f C I A L TA X UN D E V E L O P E D PR O P E R T Y , PE R AC R E so $0 $0 $2 , 9 1 8 $1 2 . 8 7 7 $0 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y . PE R AC R E $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $0 $0 $0 $0 $1 5 . 4 5 7 $1 5 . 7 6 6 $1 6 . 0 8 2 $1 6 . 4 0 3 $1 6 . 7 3 1 $17.066 $17.407 CL A S S 2 RE S I D E N T I A L ( > 5, 3 0 0 SF ) $0 $0 $1 2 . 7 6 4 $1 3 , 0 1 9 $1 3 . 2 7 9 $1 3 . 5 4 5 $1 3 . 8 1 6 $1 4 . 0 9 2 $1 4 . 3 7 4 $14.661 $14,955 CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 - 5.3 0 0 SF ) $0 $0 $1 2 . 4 2 5 $1 2 . 6 7 4 $1 2 . 9 2 7 $1 3 . 1 8 6 $1 3 . 4 5 0 $1 3 . 7 1 9 $1 3 . 9 9 3 $14.273 $14.558 CL A S S 4 RE S I D E N T I A L (4 . 9 0 1 - 5,1 0 0 SF ) $0 $0 $0 $0 so $0 $0 $0 $0 $0 $0 CL A S S 5 RE S I D E N T I A L (4 . 7 0 1 -4.9 0 0 SF ) $0 $0 $1 1 . 6 1 1 $1 1 . 8 4 3 $1 2 . 0 8 0 $1 2 . 3 2 2 $1 2 . 5 6 8 $1 2 . 8 1 9 $1 3 . 0 7 6 $13.337 $13,604 CL A S S 6 RE S I D E N T I A L (4 . 5 0 1 -4 , 7 0 0 SF ) $0 $0 $1 1 . 2 7 3 $1 1 . 4 9 8 $1 1 , 7 2 8 $1 1 . 9 6 3 $1 2 . 2 0 2 $1 2 . 4 4 6 $1 2 . 6 9 5 $12.949 $13.208 CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 - 4.5 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CL A S S 8 RE S I D E N T I A L (< 4,3 0 0 SF ) $0 $0 $1 0 . 5 8 8 $1 0 . 8 0 0 $1 1 . 0 1 6 $1 1 . 2 3 6 $1 1 . 4 6 1 $1 1 . 6 9 0 $ 1 1 . 9 2 4 $12.162 $12.406 VI, MA l ( I M U M S~ f C I A L TA X E S UN D E V E L O P E D PR O P E R T Y $2 . 0 7 1 . 1 8 1 $2 . 1 1 2 . 6 0 5 $1 . 9 8 8 . 0 2 9 $1 , 2 6 2 . 0 5 1 $4 6 2 . 8 4 7 $8 8 . 5 1 9 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S $0 $0 $0 $0 $4 6 . 3 7 1 $1 4 1 . 8 9 6 $2 4 1 . 2 2 4 $2 4 6 , 0 4 8 $2 5 0 . 9 6 9 $255.989 $261.109 CL A S S 2 RE S I D E N T I A L ( > 5.3 0 0 SF ) $0 $0 $3 8 . 2 9 1 $1 9 5 . 2 8 3 $3 5 8 . 5 4 0 $4 7 4 . 0 7 0 $4 8 3 . 5 5 2 $4 9 3 . 2 2 3 $5 0 3 . 0 8 7 $513.149 $523.412 CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 - 5,3 0 0 SF ) $0 $0 $2 4 . 8 5 1 $1 3 9 . 4 1 4 $2 5 8 . 5 5 0 $3 0 3 . 2 7 9 $3 0 9 , 3 4 4 $3 1 5 . 5 3 1 $3 2 1 . 8 4 2 $328,279 $334.844 CL A S S 4 RE S I D E N T I A L (4 . 9 0 1 - 5.1 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 so $0 $0 $0 CL A S S 5 RE S I D E N T I A L (4 . 7 0 1 -4 . 9 0 0 SF ) $0 so $2 3 . 2 2 2 $1 1 8 . 4 3 1 $2 1 7 . 4 3 9 $ 2 5 8 . 7 5 2 $2 6 3 . 9 2 7 $2 6 9 . 2 0 6 $2 7 4 . 5 9 0 $280.082 $285.684 CL A S S 6 RE S I D E N T I A L (4 . 5 0 1 -4 , 7 0 0 SF ) $0 $0 $3 3 . 8 1 8 $1 9 5 , 4 6 9 $3 6 3 . 5 7 3 $3 9 4 . 7 7 0 $4 0 2 , 6 6 5 $4 1 0 . 7 1 8 $4 1 8 . 9 3 3 $427.311 $435,858 CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 - 4.5 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CL A S S 8 RE S I D E N T I A L (s 4.3 0 0 SF ) $0 $0 $2 1 . 1 7 6 $1 4 0 . 3 9 9 $2 6 4 . 3 8 2 $3 1 4 . 6 1 4 $3 2 0 . 9 0 7 $3 2 7 . 3 2 5 $3 3 3 . 8 7 1 $340.549 $347.360 - - - - - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - - - --------- TO T A L MA X I M U M SP E C I A L TA X E S $2 , 0 7 1 , 1 8 1 $2 , 1 1 2 , 6 0 5 S2 , 1 2 9 , 3 8 8 $2 , 0 5 1 , 0 ( 8 $1 , 9 7 1 , 7 0 2 $1 , 9 7 5 , 9 0 1 $2 , 0 2 1 , 6 1 9 $2 , 0 6 2 , 0 5 2 $2 , 1 0 3 , 2 9 3 $2,1(5,358 $2,188,266 VI I . D!; E ! T SE R ~ C E CQ V E R A ! 2 E GR O S S DE B T SE R V I C E CO V E R A G E • NA 26 2 . 6 9 % 13 2 . 3 9 % 12 2 . 6 7 % 11 5 . 5 4 % 11 3 . 4 3 % 11 3 . 7 9 % 1 1 3 . 7 9 % 11 3 . 7 9 % 113.79% 113.79% NE T DE B T SE R V I C E CO V E R A G E •• NA 26 2 . 6 9 % 13 2 . 3 9 % 12 2 . 6 7 % 11 9 . 2 3 % 11 7 . 0 5 % 11 7 . 3 4 % 11 7 . 2 7 % 11 7 . 2 0 % 117.14% 117.07% • lU \ 1 / I . f U U Sl' F . C / A L TAr E . ~ IL ' \ S Cf l J A/J U I A ' ! S T R A T / O A Dl i ' I D W Bf GR O S S DE B T SE R 1 1 C E •• \,f A . \ 1 M C 1 1 S P E r ' I A . L TA \ E ' I L t : ; S r F { ) .ll J M I N J S T I & l T J U N P L U S R £ . ' i E R V E E . m . N J . V C i S DIV J D E D B f G R U S S Dt. B T S £ J W / r ' E CU S D CF D No . 20 0 5 - 1 (\/ V h i s p e r i n g Hil l s ) : 12 FI S C A L YE A R - CO L L E c n o N OF TA X E S CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S !. CE O BO N D E D IN D E B T E D N E S S CA P I S T R A N O US D PU B L I C FA C I L I T I E S & FE E S CI T Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S PR O C E E D S SU R P L U S I (S H O R T F A L L ) TO T A L FIN A N C E D PU B L I C FA C I L I T I E S TO T A L BO N D E D IN D E B T E D N E S S II . AB S O R P T I O N - BU I L D I N G PE R M I T S la s of 1/ 1 ! • UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E DE V E L O P E D NO N - R E S I D E N n A L PR O P E R T Y CU M U L A T I V E NO N - R E S I D E N T I A L AC R E A G E DE V E L O P E D RE S I D E N n A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L ( > 5,3 0 0 SF ) CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 -5,3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5,1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 - 4,9 0 0 SF ) CL A S S 6 RE S I D E N T I A L (4 . 5 0 1 - 4,7 0 0 SF ) CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 -4,5 0 0 SF ) _ CLA S ~ - - - - ~ . § : ; > I D E N T I ~ ~ ~ " 2 ~ ~ SF ) _ _ _ _ CU M U L A T I V E RE S I D E N T I A L UN I T S • Cu s t o m ho m e s bil l s e d up o n la n d sa l e 1 , fil t h e r th a n bu i l d 1 n g pe r m i t s Il l . ME L L O - R O O S SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S NO N - R E S I D E N n A L PR O P E R T Y SP E C I A L TA X E S RE S I D E N n A L PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L ( > 5, 3 0 0 SF ) CL A S S 3 RE S I D E N T I A L (5 . 10 1 - 5, 3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5,1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 - 4,9 0 0 SF ) CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4. 7 0 0 SF ) CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 -4 , 5 0 0 SF ) CL A S S 8 RE S I D E N T I A L (s 4. 3 0 0 __ S_F J _ : _ , _ _ _ TO T A L SP E C I A L TA X E S IV . SP E C I A L TA X RE Q U I R E M E N T NE W BO N D E D IN D E B T E D N E S S NE W RE S E R V E FU N D - - - - - - · AN N U A L DE B T SE R V I C E - SE R I E S 20 0 7 AN N U A L GR O S S DE B T SE R V I C E CF D AD M I N I S T R A T I O N RE S E R V E FU N D IN T E R E S T (6 % DE L I N Q U E N C Y ) CA P I T A L I Z E D IN T E R E S T PA Y - A S - Y O U - G O FU N D S NE T AN N U A L DE B T SE R V I C E AN N U A L SU R P L U S / ( D E F I C I T ) CU M U L A T I V E SU R P L U S / ( D E F I C I T ) 20 1 6 - 1 7 20 1 7 $0 $0 so so $0 0. 0 0. 0 15 35 23 0 21 33 0 28 15 5 $0 $0 S2 6 6 , 3 3 1 $5 3 3 , 8 8 0 $3 4 1 . 5 4 1 so $2 9 1 , 3 9 7 $4 4 4 , 5 7 5 $0 $3 5 4 , 3 0 7 $2 , 2 3 2 , 0 3 1 $0 $0 S1 . 8 8 1 , 1 7 8 $1 , 8 8 1 , 1 7 8 $9 1 . 4 2 5 ($ 6 0 . 4 7 7 ) $0 $3 1 9 , 9 0 5 $2 , 2 3 2 , 0 3 1 so so 20 1 7 - 1 8 20 1 8 so $0 $0 $0 so 0. 0 0. 0 15 35 23 21 33 0 28 15 5 so $0 $2 7 1 , 6 5 7 $5 4 4 , 5 5 8 $3 4 8 , 3 7 2 so $2 9 7 , 2 2 5 $4 5 3 , 4 6 6 $0 S3 6 1 .3 9 3 $2 , 2 7 6 , 6 7 2 $0 $0 $1 , 9 1 8 , 8 0 2 $1 , 9 1 8 , 8 0 2 S9 3 , 2 5 3 ($ 6 0 , 4 7 7 ) $0 $3 2 5 . 0 9 4 $2 , 2 7 6 , 6 7 2 so so 20 1 8 - 1 9 20 1 9 so $0 $0 $0 $0 0.0 0.0 15 35 23 21 33 0 28 15 5 $0 $0 $2 7 7 . 0 9 1 $5 5 5 , 4 4 9 $3 5 5 . 3 4 0 so S3 0 3 , 17 0 S4 6 2 , 5 3 6 $0 $3 6 8 , 6 2 1 $2 , 3 2 2 , 2 0 5 so $0 S1 , 9 5 7 , 1 7 8 $1 , 9 5 7 , 1 7 8 S9 5 , 1 1 8 ($ 6 0 , 4 7 7 ) so $3 3 0 , 3 8 6 $2 , 3 2 2 , 2 0 5 so $0 Dr a f t - Un a u d i t e d 20 1 9 - 2 0 20 2 0 $0 $0 $0 so $0 0. 0 0.0 15 35 23 0 21 33 0 28 15 5 $0 $0 S2 8 2 , 6 3 2 S5 6 6 , 5 5 8 $3 6 2 , 4 4 6 $0 $3 0 9 . 2 3 3 $4 7 1 , 7 8 6 $0 $3 7 5 , 9 9 3 $2 , 3 6 8 , 6 4 9 $0 $0 $1 , 9 9 6 , 3 2 1 $1 , 9 9 6 . 3 2 1 $9 7 , 0 2 0 ($ 6 0 , 4 7 7 ) $0 S3 3 5 , 7 8 5 S2 , 3 6 8 , 6 4 9 $0 $0 /! f f i T S F R r V F St' l f E J J / ' U : .IS S U . \ f F - S \lA R C H i AJ . / l l S E P T £ \ f H E R I 11 0 , \ ' / l f ' A J " . \ I F . . . \ T S .. 20 2 0 - 2 1 20 2 1 $0 $0 $0 $0 $0 0. 0 0.0 15 35 23 0 21 33 0 28 15 5 $0 $0 $2 8 8 , 2 8 5 $5 7 7 , 8 8 9 $3 6 9 , 6 9 5 so $3 1 5 , 4 1 8 $4 8 1 2 2 2 so $3 8 3 . 5 1 3 $2 , 4 1 6 , 0 2 2 so $0 $2 , 0 3 6 , 2 4 8 $2 , 0 3 6 . 2 4 8 $9 8 , 9 6 1 ($ 6 0 , 4 7 7 ) so $3 4 1 , 2 9 1 $2 , 4 1 6 , 0 2 2 so $0 20 2 1 - 2 2 20 2 2 $0 $0 $0 $0 so 0.0 0. 0 15 35 23 21 33 0 28 15 5 $0 $0 $2 9 4 , 0 5 1 $5 8 9 , 4 4 7 $3 7 7 , 0 8 9 $0 $3 2 1 , 7 2 6 $4 9 0 , 8 4 6 $0 $3 9 1 , 1 8 4 $2 , 4 6 4 , 3 4 3 $0 so $2 , 0 7 6 , 9 7 3 $2 , 0 7 6 , 9 7 3 $1 0 0 , 9 4 0 (S 6 0 , 4 7 7 ) $0 $3 4 6 , 9 0 7 $2 , 4 6 4 , 3 4 3 $0 so 20 2 2 - 2 3 20 2 3 $0 so $0 so $0 0.0 0.0 15 35 23 0 21 33 0 28 15 5 $0 $0 $2 9 9 , 9 3 2 $6 0 1 , 2 3 6 $3 8 4 , 6 3 1 so $3 2 8 , 1 6 1 $5 0 0 , 6 6 3 so $3 9 9 , 0 0 7 $2 , 5 1 3 , 6 2 9 $0 so $2 , 1 1 8 , 5 1 2 $2 , 1 1 8 , 5 1 2 $1 0 2 . 9 5 9 ($ 6 0 , 4 7 7 ) so $3 5 2 , 6 3 6 $2 , 5 1 3 , 6 2 9 $0 so 20 2 3 - 2 4 20 2 4 $0 so so $0 $0 0.0 0.0 15 35 23 0 21 33 0 28 15 5 $0 so S3 0 5 , 9 3 0 $6 1 3 , 2 6 0 $3 9 2 , 3 2 4 $0 S3 3 4 , 7 2 4 S5 1 0 , 6 7 7 so $4 0 6 , 9 8 7 S2 , 5 6 3 , 9 0 2 so so $2 , 1 6 0 , 8 8 2 $2 , 1 6 0 , 8 8 2 $1 0 5 . 0 1 8 ($ 6 0 , 4 7 7 ) so $3 5 8 , 4 7 9 S2 , 5 6 3 , 9 0 2 $0 so 20 2 4 - 2 5 2025 $0 $0 $0 $0 $0 0.0 0.0 15 35 23 0 21 33 28 155 $0 $0 $3 1 2 , 0 4 9 S6 2 5 , 5 2 6 $4 0 0 , 1 7 0 $0 S3 4 1 , 4 1 8 S5 2 0 , 8 9 0 $0 S4 1 5 , 1 2 7 $2 , 6 1 5 , 1 8 0 $0 so S2 , 2 0 4 , 100 $2 , 2 0 4 , 1 0 0 S1 0 7 , 118 (S 6 0 , 4 7 7 ) $0 S3 6 4 , 4 3 9 $2 , 6 1 5 , 1 8 0 so so 2025-26 2026 $0 $0 $0 so $0 0.0 0.0 15 35 23 21 33 0 28 155 $0 $0 S318,290 S638,036 $408,173 $0 S348,247 $531,308 $0 S423,430 $2,667,484 $0 $0 $2,248,182 $2,248,182 $109,261 (S60,477) $0 $370,518 $2,667,484 so so Page4 2026-27 2027 so $0 so so so 0.0 0.0 15 35 23 0 21 33 0 28 155 $0 so $324,656 $650,797 $416.337 $0 $355,212 $541,934 so $431,898 $2,720,833 $0 $0 $2,293,146 S2,293,146 $111,446 ($60,477) $0 S376.719 S2,720,833 so $0 CU S D CF D No . 20 0 5 - 1 (W h i s p e r i n g Hil l s ) : 12 Dr a f t - Un a u d i t e d Page 5 FI S C A L YE A R - CO L L E C T I O N OF TA X E S 20 1 6 - 1 7 20 1 7 - 1 8 20 1 8 - 1 9 20 1 9 - 2 0 20 2 0 - 2 1 20 2 1 - 2 2 20 2 2 - 2 3 20 2 3 - 2 4 20 2 4 - 2 5 2025-26 2026-27 CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 2025 2026 2027 V, AV J ; ; R A ! ; Z j ; AN N ! . ! A ! . SP E C I A L TA X UN D E V E L O P E D PR O P E R T Y , PE R AC R E $0 $0 so so so so $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y , PE R AC R E $0 $0 so $0 $0 $0 $0 $0 $0 $0 $0 RE S I D E N T I A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $1 7 . 7 5 5 $1 8 . 1 1 0 $1 8 . 4 7 3 $1 8 , 8 4 2 S1 9 . 2 1 9 $1 9 . 6 0 3 S1 9 , 9 9 5 $2 0 , 3 9 5 $2 0 . 8 0 3 S21.219 $21,644 CL A S S 2 RE S I D E N T I A L ( > 5,3 0 0 SF ) $1 5 , 2 5 4 $1 5 . 5 5 9 $1 5 , 8 7 0 $1 6 , 1 8 7 $1 6 . 5 1 1 S1 6 , 8 4 1 S1 7 , 1 7 8 $1 7 , 5 2 2 S1 7 , 8 7 2 $18,230 $18,594 CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 -5. 3 0 0 SF ) S1 4 , 8 5 0 S1 5 . 1 4 7 S1 5 . 4 5 0 $1 5 , 7 5 9 $1 6 . 0 7 4 S1 6 . 3 9 5 $1 6 , 7 2 3 $1 7 , 0 5 8 $1 7 . 3 9 9 $17.747 $18,102 CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5, 1 0 0 SF ) $0 $0 $0 $0 $0 $0 $0 so $0 $0 $0 CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 - 4,9 0 0 SF ) $1 3 , 8 7 6 $1 4 , 1 5 4 $1 4 , 4 3 7 $1 4 , 7 2 5 S1 5 , 0 2 0 $1 5 , 3 2 0 $1 5 , 6 2 7 $1 5 , 9 3 9 $1 6 , 2 5 8 S16.583 $16,915 CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4,7 0 0 SF ) $1 3 , 4 7 2 S1 3 , 7 4 1 $1 4 , 0 1 6 $1 4 , 2 9 7 $1 4 , 5 8 2 S1 4 , 8 7 4 S1 5 , 1 7 2 S1 5 , 4 7 5 S1 5 . 7 8 5 $16,100 S16,422 CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 - 4,5 0 0 SF ) $0 $0 $0 $0 $0 so so $0 so $0 $0 CL A S S 8 RE S I D E N T I A L (5 4,3 0 0 SF ) $1 2 , 6 5 4 S1 2 . 9 0 7 S1 3 , 1 6 5 S1 3 , 4 2 8 $1 3 . 6 9 7 S1 3 . 9 7 1 $1 4 , 2 5 0 $1 4 , 5 3 5 S1 4 , 8 2 6 $15,122 $15,425 '!I I . MA X I M U M SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y $0 so so $0 $0 $0 $0 $0 $0 $0 $0 NO N - R E S I D E N T I A L PR O P E R T Y so $0 $0 $0 so $0 $0 $0 $0 so $0 RE S I D E N T I A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S $2 6 6 , 3 3 1 $2 7 1 , 6 5 7 $2 7 7 , 0 9 1 S2 8 2 , 6 3 2 $2 8 8 , 2 8 5 $2 9 4 , 0 5 1 $2 9 9 , 9 3 2 $3 0 5 , 9 3 0 S3 1 2 , 0 4 9 $318,290 $324,656 CL A S S 2 RE S I D E N T I A L (> 5,3 0 0 SF ) $5 3 3 , 8 8 0 $5 4 4 . 5 5 8 $5 5 5 . 4 4 9 $ 5 6 6 , 5 5 8 S5 7 7 , 8 8 9 $5 8 9 . 4 4 7 S6 0 1 , 2 3 6 $6 1 3 , 2 6 0 $6 2 5 , 5 2 6 $638,036 $650,797 CL A S S 3 RE S I D E N T I A L (5 , 10 1 -5 , 3 0 0 SF ) $3 4 1 , 5 4 1 $3 4 8 , 3 7 2 $3 5 5 , 3 4 0 $3 6 2 , 4 4 6 $3 6 9 , 6 9 5 $3 7 7 , 0 8 9 S3 8 4 , 6 3 1 $3 9 2 , 3 2 4 $4 0 0 , 1 7 0 $408,173 $416,337 CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 -5 . 1 0 0 SF ) so $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 -4 . 9 0 0 SF ) $2 9 1 , 3 9 7 $2 9 7 . 2 2 5 $3 0 3 . 1 7 0 $3 0 9 , 2 3 3 $3 1 5 . 4 1 8 $3 2 1 , 7 2 6 S3 2 8 . 1 6 1 $3 3 4 , 7 2 4 $3 4 1 . 4 1 8 $348,247 $355,212 CL A S S & RE S I D E N T I A L (4 , 5 0 1 - 4,7 0 0 SF ) $4 4 4 , 5 7 5 $4 5 3 , 4 6 6 $4 6 2 , 5 3 6 $4 7 1 , 7 8 6 $4 8 1 , 2 2 2 $4 9 0 , 8 4 6 $5 0 0 , 6 6 3 $5 1 0 , 6 7 7 S5 2 0 , 8 9 0 $531.308 $541,934 CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 - 4,5 0 0 SF ) so $0 so $0 $0 $0 so $0 $0 $0 $0 CL A S S 8 RE S I D E N T I A L (5 4,3 0 0 SF ) $3 5 4 , 3 0 7 $3 6 1 , 3 9 3 $3 6 8 , 6 2 1 $3 7 5 , 9 9 3 $3 8 3 , 5 1 3 $ 3 9 1 , 1 8 4 $3 9 9 , 0 0 7 $4 0 6 , 9 8 7 $4 1 5 , 1 2 7 $423,430 S431.898 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ------- TO T A L MA X I M U M SP E C I A L TA X E S $2 , 2 3 2 , 0 3 1 $2 , 2 7 6 , 6 7 2 $2 , 3 2 2 , 2 0 5 $2 , 3 6 8 , 6 4 9 $2 , 4 1 6 , 0 2 2 $2 , 4 6 4 , 3 4 3 $2 , 5 1 3 , 6 2 9 $2 , 5 6 3 , 9 0 2 $2 , 6 1 5 , 1 8 0 $2,667,48( $2,720,833 '! I l l , DE ! H SE B V I ! ; ; £ 7 : !:; Q V E R A ! Z E GR O S S DE B T SE R V I C E CO V E R A G E • 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 113.79% 113.79% NE T DE B T SE R V I C E CO V E R A G E •• 11 7 . 0 1 % 11 6 . 9 4 % 11 6 . 8 8 % 11 6 . 8 2 % 11 6 . 7 6 % 11 6 . 7 0 % 11 6 . 6 5 % 11 6 . 5 9 % 11 6 . 5 3 % 116.48% 116.43% • Al. . t . \ 1 U U H S / ' E C I A L Th. ~ E S i.. l . . ' i 5 CFn . W M I N J S T H . . ~ T I O J v lJ I / ' I D F J J B T GR O S S DF : B T S E R I K E •• IJ A \ " / M f . . ! . \ 1 Sf ' b 'I' l L 7A . U o . S /J : ; s $ ( 'F U . U J M I N I S T R . f . 7/U N f'U 'S RF . ' i E R V E E.f f i N I . V G S . D!I 1 1 J f : D B Y c;R U S S VA R T SF . . R V / ( ' 1 : . CU S D CF O No . 20 0 5 - 1 (W h i s p e r i n g Hi l l s ) : 12 FI S C A L YE A R - CO L L E C l l O N OF TA X E S CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S I. CE P BO N P E P IN P E B T E P N E S S CA P I S T R A N O US D PU B L I C FA C I L I T I E S & FE E S CIT Y OF SA N JU A N CA P I S T R A N O PU B L I C FA C I L I T I E S & FE E S PR O C E E D S SU R P L U S I (S H O R T F A L L ) TO T A L FIN A N C E D PU B L I C FA C I L I T I E S TO T A L BO N D E D IN D E B T E D N E S S II. AB S O R P T I O N - BU I L P I N G PE R M I T S la s of 1/ 1 ) • UN D E V E L O P E D PR O P E R T Y RE M A I N I N G UN D E V E L O P E D AC R E A G E DE V E L O P E D NO N - R E S I D E N l l A L PR O P E R T Y CU M U L A T N E NO N - R E S I D E N T I A L AC R E A G E DE V E L O P E D RE S I D E N l l A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L ( > 5, 3 0 0 SF ) CL A S S 3 RE S I D E N T I A L (5 , 1 0 1 • 5, 3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 . 5, 1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 . 7 0 1 - 4,9 0 0 SF ) CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4, 7 0 0 SF ) CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 • 4, 5 0 0 SF ) _E_ ~ ~ ~ - 8 _ _ RE S I D E N T I A L (S 4 . ~ ~ - CU M U L A T I V E RE S I D E N T I A L UN I T S • Cu & l o m ho m e s bil s e a ' up o n la n d Hie S , ra t h e r th a n bu i k : l 1 n g pe r m i t s Ill . ME L L O - R O O S SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y SP E C I A L TA X E S NO N - R E S I D E N l l A L PR O P E R T Y SP E C I A L TA X E S RE S I D E N l l A L PR O P E R T Y SP E C I A L TA X E S CL A S S 1 CU S T O M HO M E S CL A S S 2 RE S I D E N T I A L (> 5, 3 0 0 SF ) CL A S S 3 RE S I D E N T I A L (5 , 10 1 - 5 , 3 0 0 SF ) CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5,1 0 0 SF ) CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 • 4,9 0 0 SF ) CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 • 4,7 0 0 SF ) CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 - 4,5 0 0 SF ) CL A ~ - 8 RE S I D E N T I A L (S 4,3 0 0 SF ) TO T A L SP E C I A L TA X E S IV . SP E C I A L TA X RE Q U I R E M E N T NE W BO N D E D IN D E B T E D N E S S NE W RE S E R V E FU N D - - - - - - - - - - - - - AN N U A L DE B T SE R V I C E · SE R I E S 20 0 7 AN N U A L GR O S S DE B T SE R V I C E CF D AD M I N I S T R A T I O N RE S E R V E FU N D IN T E R E S T (6 % DE L I N Q U E N C Y ) CA P I T A L I Z E D IN T E R E S T PA Y - A S - Y O U - G ' - 0 " - - F " - U - ' N D : c , S : . , _ _ _ _ _ _ _ _ _ NE T AN N U A L DE B T SE R V I C E AN N U A L SU R P L U S / ( D E F I C I T ) CU M U L A TN E SU R P L U S / ( D E F I C I T ) 20 2 7 - 2 8 20 2 8 $0 $0 $0 $0 $0 0. 0 0. 0 15 35 23 0 21 33 0 28 15 5 $0 $0 $3 3 1 , 1 4 9 $6 6 3 , 8 1 3 $4 2 4 , 6 6 4 $0 $3 6 2 , 3 1 6 $5 5 2 , 7 7 3 $0 $4 4 0 , 5 3 6 $2 , 7 7 5 , 2 5 0 $0 $0 $2 , 3 3 9 , 0 0 9 $2 , 3 3 9 , 0 0 9 S1 1 3 , 6 7 5 ($ 6 0 , 4 7 7 ) $0 S3 8 3 , 0 4 4 $2 , 7 7 5 , 2 5 0 so so 20 2 8 - 2 9 20 2 9 so so so so so 0. 0 0.0 15 35 23 0 21 33 0 28 15 5 $0 $0 $3 3 7 , 7 7 2 $6 7 7 , 0 8 9 $4 3 3 , 1 5 7 $0 $3 6 9 , 5 6 2 S5 6 3 , 8 2 8 $0 $4 4 9 , 3 4 7 $2 , 8 3 0 , 7 5 5 $0 $0 $2 , 3 8 5 , 7 8 9 $2 , 3 8 5 , 7 8 9 $1 1 5 , 9 4 8 (S 6 0 , 4 7 7 ) $0 $3 8 9 , 4 9 5 $2 , 8 3 0 , 7 5 5 $0 $0 20 2 9 - 3 0 20 3 0 $0 so so so $0 0.0 0. 0 15 35 23 21 33 28 15 5 so $0 S3 4 4 , 5 2 7 $6 9 0 , 6 3 1 $4 4 1 , 8 2 0 so S3 7 6 , 9 5 3 S5 7 5 , 1 0 5 so S4 5 8 , 3 3 4 $2 , 8 8 7 , 3 7 0 so so $2 , 4 3 3 , 5 0 5 $2 , 4 3 3 , 5 0 5 S1 1 8 , 2 6 7 (S 6 0 , 4 7 7 ) $0 $3 9 6 , 0 7 5 $2 , 8 8 7 , 3 7 0 so so Dr a f t - Un a u d i t e d 20 3 0 - 3 1 20 3 1 $0 $0 $0 $0 $0 0. 0 0. 0 15 35 23 21 33 0 28 15 5 $0 $0 $3 5 1 , 4 1 8 $7 0 4 , 4 4 3 $4 5 0 , 6 5 6 $0 S3 8 4 , 4 9 2 $5 8 6 , 6 0 7 so S4 6 7 . 5 0 1 $2 , 9 4 5 , 1 1 7 $0 $0 $2 , 4 8 2 , 1 7 5 $2 , 4 8 2 , 1 7 5 $1 2 0 , 6 3 3 (S 6 0 . 4 7 7 ) $0 $4 0 2 78 7 $2 , 9 4 5 , 1 1 7 $0 so [ll o H T St: R 1 1 i ' £ .~ C H E D U L E AS S U M E S \lA R C H I A. N l l S£ / ' T £ 1 1 / : : J E R I RQ , \ ' f > fi j i \J F . . \ " T . ' i 20 3 1 - 3 2 20 3 2 so $0 $0 so so 0. 0 0. 0 15 35 23 0 21 33 0 28 15 5 so so $3 5 8 , 4 4 6 $7 1 8 , 5 3 2 $4 5 9 , 6 7 0 so $3 9 2 , 1 8 2 $5 9 8 , 3 3 9 so $4 7 6 , 8 5 1 $3 , 0 0 4 , 0 2 0 so $0 $2 , 5 3 1 , 8 1 8 $2 , 5 3 1 , 8 1 8 $1 2 3 , 0 4 5 ($ 6 0 . 4 7 7 ) $0 $4 0 9 , 6 3 4 $3 , 0 0 4 , 0 2 0 $0 $0 20 3 2 - 3 3 20 3 3 $0 $0 $0 $0 $0 0. 0 0.0 15 35 23 0 21 33 0 28 15 5 $0 $0 $3 6 5 , 6 1 5 $7 3 2 , 9 0 3 $4 6 8 , 8 6 3 $0 $4 0 0 , 0 2 6 $6 1 0 , 3 0 6 $0 $4 8 6 , 3 8 8 $3 , 0 6 4 , 1 0 0 so $0 $2 , 5 8 2 , 4 5 4 $2 , 5 8 2 , 4 5 4 $1 2 5 , 5 0 6 ($ 6 0 , 4 7 7 ) $0 $4 1 6 , 6 1 7 $3 , 0 6 4 , 1 0 0 so $0 20 3 3 - 3 4 20 3 4 so $0 $0 $0 $0 0. 0 0.0 15 35 23 0 21 33 0 28 15 5 so $0 $3 7 2 , 9 2 7 S7 4 7 , 5 6 1 $4 7 8 , 2 4 0 $0 $4 0 8 , 0 2 6 S6 2 2 , 5 1 2 $0 $4 9 6 , 1 1 5 $3 , 1 2 5 , 3 8 2 $0 $0 $2 , 6 3 4 , 1 0 4 $2 , 6 3 4 , 1 0 4 $1 2 8 , 0 1 6 ($ 6 0 , 4 7 7 ) $0 $4 2 3 , 7 3 9 $3 , 1 2 5 , 3 8 2 $0 so 20 3 4 - 3 5 20 3 5 $0 $0 so $0 $0 0.0 0.0 15 35 23 21 33 0 28 15 5 $0 $0 S3 8 0 , 3 8 6 $7 6 2 , 5 1 2 S4 8 7 . 8 0 5 $0 $4 1 6 , 1 8 7 $6 3 4 , 9 6 2 $0 $5 0 6 , 0 3 8 $3 , 1 8 7 , 8 9 0 $0 $0 $2 , 6 8 6 , 7 8 6 $2 , 6 8 6 , 7 8 6 $1 3 0 , 5 7 7 ($ 6 0 . 4 7 7 ) $0 S4 3 1 , 0 0 5 S3 , 1 8 7 , 8 9 0 $0 so 20 3 5 - 3 6 2036 $0 $0 $0 so $0 0.0 0.0 15 35 23 0 21 33 0 28 155 $0 so $3 8 7 , 9 9 4 $7 7 7 , 7 6 2 S4 9 7 , 5 6 1 so $4 2 4 , 5 1 1 $6 4 7 , 6 6 1 $0 $5 1 6 , 1 5 8 $3 , 2 5 1 , 6 4 8 (S 2 5 , 7 3 5 , 0 0 0 ) ($ 2 , 5 7 3 , 5 0 0 ) $2 , 7 4 0 , 5 2 1 $2 , 7 4 0 , 5 2 1 S1 3 3 , 1 8 8 (S 6 0 , 4 7 7 ) $0 $3 , 0 1 1 , 9 1 5 $3 , 2 5 1 , 6 4 8 $0 $0 TOTAL $6,855,900 $12,279,570 $0 $19,135,470 S25,735,000 NA NA NA NA NA NA NA NA NA NA NA $241,189 $0 S7,914,745 $16,554,488 S10,634.488 $0 $9,071,518 S13,885,111 $0 $11,019,311 $69,320,850 $25,735,000 $2,573,500 $61,903,743 S61,903,743 $2,891,106 ($1,632,886) ($3,216,875) $11,949,262 $69,320,850 NA NA Page 6 CU S D CF D No . 20 0 5 - 1 (\ N h i s p e r i n g Hil l s ) : 12 Dr a f t - Un a u d i t e d Page7 FIS C A L YE A R - CO L L E C T I O N OF TA X E S 20 2 7 - 2 8 20 2 8 - 2 9 20 2 9 - 3 0 20 3 0 - 3 1 20 3 1 - 3 2 20 3 2 - 3 3 20 3 3 - 3 4 20 3 4 - 3 5 20 3 5 - 3 6 TOTAL CA L E N D A R YE A R - PA Y M E N T S TO BO N D HO L D E R S 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 20 3 5 2036 V, AV ! ; ; R A ~ f A~ ~ U A ! . S P E C ! A ! . TA X UN D E V E L O P E D PR O P E R T Y , PE R AC R E $0 so $0 $0 $0 $0 $0 $0 so NA NO N . f ! E S I D E N T l A L PR O P E R T Y , PE R AC R E $0 $0 $0 $0 $0 $0 $0 $0 $0 NA RE S I D E N T l A L PR O P E R T Y , PE R UN I T CL A S S 1 CU S T O M HO M E S $2 2 . 0 7 7 $2 2 , 5 1 8 $2 2 . 9 6 8 $2 3 , 4 2 8 $2 3 , 8 9 6 $2 4 , 3 7 4 $2 4 , 8 6 2 $2 5 , 3 5 9 $2 5 , 8 6 6 NA CL A S S 2 RE S I D E N T I A L (> 5,3 0 0 SF ) $1 8 , 9 6 6 $1 9 , 3 4 5 $1 9 , 7 3 2 $2 0 , 1 2 7 $ 2 0 . 5 2 9 S2 0 , 9 4 0 $2 1 , 3 5 9 $2 1 , 7 8 6 $2 2 , 2 2 2 NA CL A S S 3 RE S I D E N T I A L (5 . 1 0 1 - 5.3 0 0 SF ) $1 8 . 4 6 4 $1 8 . 8 3 3 $1 9 , 2 1 0 $1 9 , 5 9 4 $ 1 9 , 9 8 6 $2 0 , 3 8 5 $2 0 , 7 9 3 $2 1 . 2 0 9 $2 1 , 6 3 3 NA CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 -5 , 1 0 0 SF ) $0 $0 $0 $0 $0 so $0 $0 so NA CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 -4 , 9 0 0 SF ) $1 7 , 2 5 3 $1 7 , 5 9 8 $1 7 , 9 5 0 $ 1 8 , 3 0 9 $1 8 , 6 7 5 $ 1 9 , 0 4 9 $1 9 . 4 3 0 $1 9 , 8 1 8 $2 0 , 2 1 5 NA CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 - 4,7 0 0 SF ) $1 6 , 7 5 1 $1 7 , 0 8 6 $1 7 , 4 2 7 $ 1 7 , 7 7 6 $1 8 , 1 3 1 $1 8 , 4 9 4 $ 1 8 , 8 6 4 $1 9 , 2 4 1 S1 9 , 6 2 6 NA CL A S S 7 RE S I D E N T I A L (4 . 3 0 1 - 4,5 0 0 SF ) $0 so so so $0 so so so $0 NA CL A S S 8 RE S I D E N T I A L (S 4,3 0 0 SF ) S1 5 , 7 3 3 $1 6 , 0 4 8 $1 6 , 3 6 9 $1 6 , 6 9 6 $1 7 , 0 3 0 $1 7 , 3 7 1 $1 7 , 7 1 8 $1 8 , 0 7 3 $1 8 , 4 3 4 NA 't/ 1 , MA X I M U M SP E C I A L TA X E S UN D E V E L O P E D PR O P E R T Y $0 $0 so $0 $0 $0 $0 $0 $0 S7,985,233 NO N . f ! E S I D E N T l A L PR O P E R T Y $0 so $0 $0 $0 so $0 $0 $0 $0 RE S I D E N T l A L PR O P E R T Y CL A S S 1 CU S T O M HO M E S $3 3 1 , 1 4 9 $3 3 7 , 7 7 2 S3 4 4 , 5 2 7 S3 5 1 ,4 1 8 S3 5 8 , 4 4 6 $3 6 5 , 6 1 5 $3 7 2 , 9 2 7 $3 8 0 , 3 8 6 $3 8 7 , 9 9 4 $7,914,745 CL A S S 2 RE S I D E N T I A L (> 5,3 0 0 SF ) $6 6 3 , 8 1 3 $6 7 7 , 0 8 9 $6 9 0 , 6 3 1 S7 0 4 , 4 4 3 $7 1 8 , 5 3 2 S7 3 2 , 9 0 3 $7 4 7 , 5 6 1 $7 6 2 , 5 1 2 S7 7 7 , 7 6 2 $16,554,488 CL A S S 3 RE S I D E N T I A L (5 , 10 1 - 5 , 3 0 0 SF ) $4 2 4 , 6 6 4 $4 3 3 , 1 5 7 $4 4 1 , 8 2 0 $4 5 0 , 6 5 6 $4 5 9 , 6 7 0 S4 6 8 , 8 6 3 $4 7 8 , 2 4 0 S4 8 7 , 8 0 5 $4 9 7 , 5 6 1 $10,634,488 CL A S S 4 RE S I D E N T I A L (4 , 9 0 1 - 5,1 0 0 SF ) $0 $0 so so so $0 $0 so $0 so CL A S S 5 RE S I D E N T I A L (4 , 7 0 1 -4 , 9 0 0 SF ) $3 6 2 , 3 1 6 $3 6 9 . 5 6 2 $3 7 6 , 9 5 3 $3 8 4 , 4 9 2 $3 9 2 , 1 8 2 $4 0 0 . 0 2 6 S4 0 8 , 0 2 6 $4 1 6 , 1 8 7 $4 2 4 , 5 1 1 $9,071,518 CL A S S 6 RE S I D E N T I A L (4 , 5 0 1 -4 , 7 0 0 SF ) $5 5 2 , 7 7 3 $5 6 3 , 8 2 8 S5 7 5 , 1 0 5 $5 8 6 , 6 0 7 $5 9 8 , 3 3 9 $6 1 0 , 3 0 6 S6 2 2 , 5 1 2 S6 3 4 , 9 6 2 $6 4 7 , 6 6 1 $13,885,111 CL A S S 7 RE S I D E N T I A L (4 , 3 0 1 - 4,5 0 0 SF ) $0 $0 $0 $0 $0 so $0 so $0 $0 CL A S S 8 RE S I D E N T I A L (S 4,3 0 0 SF ) $4 4 0 , 5 3 6 $4 4 9 , 3 4 7 $4 5 8 , 3 3 4 S4 6 7 , 5 0 1 $4 7 6 , 8 5 1 S4 8 6 , 3 8 8 $4 9 6 , 1 1 5 S5 0 6 , 0 3 8 $5 1 6 , 1 5 8 $11,019,311 - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - - - - - - - - - - --- TO T A L MA X I M U M SP E C I A L TA X E S S2 , 7 7 5 . 2 5 0 S2 , 8 3 0 , 7 5 5 $2 , 8 8 7 , 3 7 0 $2 , 9 4 5 , 1 1 7 $3 , 0 0 4 , 0 2 0 S3 , 0 6 4 , 1 0 0 S3 , 1 2 5 , 3 8 2 $3 , 1 8 7 , 8 9 0 S3 , 2 5 1 , 6 4 8 S77,064,894 VII . t! E I H SER ' t / ~ C f CQV E R A ~ ! ; ; GR O S S DE B T SE R V I C E CO V E R A G E • 11 3 . 7 9 % 11 3 . 7 9 % 1 1 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 11 3 . 7 9 % 1 1 3 . 7 9 % 1 1 3 . 7 9 % 11 3 . 7 9 % NA NE T DE B T SE R V I C E CO V E R A G E -· 11 6 . 3 8 % 11 6 . 3 3 % 1 1 6 . 2 8 % 11 6 . 2 3 % 11 6 . 1 8 % 11 6 . 1 3 % 11 6 . 0 9 % 11 6 . 0 4 % 11 6 . 0 0 % NA • .\I . . V . . ' J M U \ 1 SP E L ' J A L T AXf. . . : ~ US . ' \ f f! J !I ».t i i i / S T R . - 1 T/O A ' Dl l 'J l J I - : D 81 ' GR O S S DE B T SE R I ' I L ' E •• .\ / A . \ / M U : \ 1 SP H ' L 4 1 . TA \f: S U0 J : i f TD WM ! M S T R A T ! U N I' L l ' S RE . S E R I - ' f . f- 1 R N I . V G S . D I V ! D E D Rf GR U S S DE B T SE R V / r · E ·f l i THE CITY OF SAN JUAN CAPISTRANO N A 0 3000 6000 9000 Feet l"!!!!"!!!!!!~!!!liiiiiiiiiiiiiiiiiiiiiiiiiiiil!!~~ ATTACHMENT 4 32400 PASEO ADELANTO SAN JUAN CAPISTRANO, CA 92675 (949) 493-1171 (949) 493·1053 FAX www.sat!iuam·apistrano.org UEJABERS OF THE crrt' COUNCIL SAMALLEVATO LAURA FREESE THOMAS W. HRIBAR MIIRJ( NIELS£N OR. LONORES USO NOTIFICATION OF MEETING OF POTENTIAL INTEREST OF THE SAN JUAN CAPISTRANO CITY COUNCIL The City Council of San Juan Capistrano will meet at 6:00 p.m. on Tuesday, June 7, 2011, in the City Council Chamber in City Hall, to consider: "Consideration of First Amended and Restated Joint Community Facilities Agreement (CFD 2005-1 ), Access Easement and Agreement Regarding Access Easement Located West of La Pata Avenue Approximately 1.4 Miles South of the Ortega Highway (Capistrano Unified School District), (Rancho San Juan Developer, LLC), (Whispering Hills, LLC)" -Item No. G1 a. If you have specific thoughts or concerns regarding this item, you are encouraged to participate in this decision making process. You can communicate with the City Council through correspondence addressed to the Council and/or by attending the meeting and speaking to the Council during the public meeting. Correspondence related to this item must be received at the City Clerk's office by 5:00 p.m. on Monday, June 6, 2011, to allow time for the Council to consider its content. If you would like to speak at the meeting, please complete a yellow "Request to Speak" form found inside the entrance to the Council Chamber. This form is turned in at the staff table, just in front of the Council dais. You will be called to speak by the Mayor when the item is considered. You have received this notice at the request of the City staff member Cindy Russell, Chief Financial Officer/City Treasurer. You may contact that staff member at (949) 443-6301 with any questions. The agenda, including agenda reports, is available to you on our web site: www.sanjuancapistrano.org. If you would like to subscribe to receive a notice when agendas are posted to the web site, please make that request by sending an e-mail to: cityclerk@sanjuancapistrano.org. Maria Morris, CMC City Clerk cc: Jeffrey Stava, Nossaman, LLP; Ron Lebs, Capistrano Unified School District; Alex Bowie, Bowie, Arneson, Wiles & Giannone (CUSD Counsel); Andrea Roess, Taussig and Associates (CUSD Consultant); Todd Cunningham, Woodbridge Development; Blaine Peterson, Rancho San Juan Development; John Yeager, O'Neil, LLP (Rancho San Juan Development Counsel); Jim Reardon S'an Juan Capisrrano: Preserving the Past to Enhance rhe Furure 6/7/2011 Maria Morris G1a To: City Clerk Scanstation Subject: RE: Resend: Whispering Hills, CUSD-SJC CFD No. 2005-1 -Beware From: Jim Reardon _ Sent: Saturday, May 14, 2011 6:16PM To: City Clerk Scanstation Subject: Resend: Whispering Hills, CUSD-SJC CFD No. 2005-1 -Beware This message is being retransmitted without attachments to get past size limits for e-mail to City Hall addresses. The original attachments are available here. Council Members, Here is a topic deserves the clear-headed attention of the Council members and taxpayers of San Juan Capistrano. A critical decision will be placed before the City Council in the next few weeks in which $12 million city funds are at stake. Thankfully, this is not on your 5117 agenda, so there is time to give it careful consideration. Unfortunately, everything about the Whispering Hills and San Juan Hills High School is complex. Over- simplification of this topic is dangerous. Having so cautioned you, here is the problem in a nutshell: • CUSD Trustees have adopted a plan that relieves the school district of a $6 million obligation owed to Whispering Hills LLC. In this plan, the $6 million obligation becomes a senior obligation of the CFD 2005-1. In effect, CUSD wants to subordinate the City's position to obtain $12.28 million in utilities and infrastructure improvement fees from CFD 2005-1. • Under the adopted plan, the tax rate associated with CFD 2005-1 has been reduced to a level at which it is unlikely that city utilities and infrastructure fees at Whispering Hills can be adequately funded from bond proceeds. • A standby letter of credit provision that obligated the Whispering Hills developer to ensure that the CFD was adequately funded has been replaced by a tax escalation scheme aimed at future homeowners in Whispering Hills. Fortunately, ratification of the CUSD plan requires the approval of the City Council since the whole arrangement was structured as a Joint Facilities Agreement in 2005. The parties to the JF A are CUSD, the City of San Juan Capistrano, and Rancho San Juan Development (successors to Whispering Hills LLC). Because City approval is required, the opportunity exists to protect the City's financial stake in CFD 2005-1. Background In 2004, CUSD purchased the site for SJHHS from Whispering Hills LLC (WHLLC) for $52 million. The original purchase agreement deferred payment of$6 million until such time as CFD 2005-1 was formed and bonds were sold. WHLLC subsequently failed to develop the 155 residential homes within Whispering Hills, thus making it impossible for the CFD to issue the bonds. The $6 million remains unpaid and litigation now exists between WHLLC and the school district. On the one hand, WHLLC is demanding the $6 million. CUSD responds that the $6 million need not be paid until bonds are sold by CFD 2005-1. CUSD has counter-sued for certain property line adjustments at SJHHS and is also 1 demands return of $3.9 million that it says was paid to WHLLC for work not connected with the high school ($2.264 million of this money was paid to the City in 2009). The plan adopted by CUSD Trustees at their 519 meeting is crafted in to settle the litigation while preserving CUSD's $3.9 million claim. It serves the interests of the school district rather well--at the expense of the City's interests. The Original JF A The original JF A made CUSD the lead agency since it was anticipated that CUSD would be the largest beneficiary ofthe Special Tax (SIT) collected. In the original plan, CFD 2005-1 would collect $26.43 million through the year 2044. The City was to receive $12.28 million ofthis money (a specific allocation) and the balance, including residual or "pay-as-you-go" SIT collections would be reserved to CUSD. These plans were ambitious to start with, since they were calculated on an anticipated sales price range of $1.04 million to $1.4 million per home for a site adjacent to the County Landfill. Furthermore, it is unclear why CUSD was designated as the lead agency in CFD 2005-1, since it is the City of San Juan Capistrano that was to received the largest part of the bond proceeds. The Amended JF A Under the amended JF A adopted by CUSD (and to be proposed to the City), CUSD remains the lead agency even though its own portion of the SIT is reduced. In the new plan, CFD 2005-1 will collect $17.6 million through 2049. The $6 million WHLLC claim against CUSD becomes an senior obligation of the CFD, CUSD's other specific claims are eliminated, and the City's $12.28 million specific allocation remains. While these plans are less ambitious than before, they are calculated on an anticipated sales prices of $602,000 to $799,000 per home and anticipated bond proceeds will be only $8 million to $10 million--insufficient to pay the $19 million in specific obligations of the revised CFD 2005-1. Anticipating this, the plan provides for 60 percent of the bond proceeds to be used to pay the $6 million to WHLLC, while 40 percent of the proceeds are allocated to the specific utility and infrastructure fees ofthe City. For example, ifthe optimistic bond proceeds were $10 million, then $6 million goes straight to WHLLC and the City receives $1.6 million. The remaining $8 million in fees owed to the City are then satisfied out of pay-as- you-go proceeds of CFD 2005-1 that will take about a 20 years to fully pay. Unfortunately, ifless optimistic estimates of the bond proceeds and home prices are applied, it could take the City up to 30 years to be fully paid. Throughout this pay-as-you-go period, CUSD retains retains a 60 percent share of the SIT revenue, even though it owes money to the City. Lastly, the amended JFA contains an Special Tax escalator clause that comes into play in the event that bond proceeds are lower than expected. Under this clause, future homeowners within CFD 2005-1 could suffer a 10 percent increase in their SIT to make up any deficiency. This "feature" of the CFD replaces the Backup Letter of Credit from Whispering Hills that originally served the same purpose. The Political Dimension CUSD has publicly announced the adoption of this plan as a breakthrough that allows them to end litigation, start work on their long-delayed football bleachers at SJHHS, and preserve their claim for the $3.9 million in 2 overpayments. There has been no public announcement of the rearrangement of all the obligations. Were the City not involved in the JF A, this would be the whole story, though some might question that CUSD is paying about $6 million per acre for the 0.9 acres ofland on which the bleachers will be built after settlement of the property line dispute! But the City is involved and the proposed JF A amendments that require that the City, in effect, participate in the settlement ofWHLLC's $6 million claim and then wait decades for payment of utilities and infrastructure fees. The Details The original JF A and School Facilities Mitigation Agreement (which formed CFD 2005-1) are attached to this e-mail. The resolution adopted by the CUSD Trustees, the amended JF A, and the Amended Facilities Mitigation Agreement are also attached. These materials are also available directly from CUSD at this URL: https:! /capousd-ca. schoolloop. com/ems/page view?d= x&pi id=&vpid= 1293638 734307 Recommendation I urge the Council and City Manager to review the materials I've outlined and confirm the details. As I said at the outset, this is a complex topic and it is possible that I've made a mistake in interpreting the amendments. With that caveat, the City should not accept this amendment without modifications. At the very least, the City utility and infrastructure fees should be paid ahead ofthe $6 million, since the utility improvements and infrastructure must be built before CFD 2005-1 can sell bonds. It is not reasonable that the city and taxpayers of San Juan Capistrano should be forced to, in effect, loan money to CUSD. The City should also seek further assurances and security concerning any utility or infrastructure expenses incurred that remain unpaid due to another interruption in the construction of Whispering Hills development. Since the City Council must approve any amendment to JF A, the City is in a position to demand first payment of fees owed--ahead ofthis new CFD obligation and ahead of any funds flowing to CUSD (CUSD has no remaining obligations as a result of the agreement). No 60/40 splits are necessary. San Juan Capistrano should be paid 100 percent of the bond proceeds and pay-as-you-go revenue up to $12.28 million. Simple: It is the the utilities and infrastructure --not the high school --that enable the bonds to be sold in the first place. Call me if you have any questions on this topic or need background data. I have extensive files on it. 3 Maria Morris From: Sent: To: Subject: Maria, Jim Reardon Thursday, June 02, 2011 9:20 PM Maria Morris City Council Agenda G1a: Whispering Hills Please make arrangements to connect my memo of May 14 concerning this topic to the published council agenda. Sincerely, Jim Reardon 1 Christy Jakl From: City Clerk Scanstation •I!Ze . FW: Agenda G1a: Revised Whispering Hills JFA and cr=t:H!XIBI v ED Subject: From: Jim Reardon [mailto:james.m.reardon@gmail.com] Sent: Thursday, June 02, 2011 11:43 PM To: City Clerk Scanstation Subject: Agenda Gla: Revised Whispering Hills JFA and CFD 2005-1 Council Members, ltJI JUN -b p ~ Ol, CIT( LLEPK IAN JtJAN CAI'ISTRAND 5/17/2011 G1a Problem: The staff report for this item raises more questions than it answers. Please refer to my earlier correspondence from May 14, and then consider the following new comments concerning the Agenda G1 a staff report: 1. The legal description ofthe parcels within the CFD differs from the resolution from 2005, and differs from the resolution passed by CUSD last month. The number of total parcels are different in each document and portions of certain parcels are excluded in the city proposal. What has changed? Does this amendment alter the boundaries of the CFD from 2005? It appears to. 2. The staff report says that the city "requested" an easement for access to the open space area. How was this done, and by whom? What is the relationship of this easement to the high school, the power line easement, and the open space, the jet fuel pipeline? Did the council or the open space committee ever go on record as seeking this easement? What is the value of the easement (in financial terms)? What is the City providing in return? 3. Does the easement create a public street where none presently exists? What is the relationship of this public access to remaining property held by Developer or others? 4. Does the city already have a right of access to the open space in the area of the easement? 5. Under this agreement, it appears that Developer can be reimbursed for costs advanced to install City Facilities in front of houses not yet built. This would occur if a portion (but not all) of Whispering Hills were constructed and sold, allowing the CFD to start collecting funds. This should be prevented. Remaining portions of the development might never be built, leaving the city with ownership of facilities that serve vacant lots. 6. There is no mention whatsoever in the staff presentation ofthe $6 million owed to "Prior Owner" by CUSD (nor is the term "Prior Owner" ever defined). CUSD action has assigned this $6 million to be a superior obligation of the CFD. The relationship of the 12 percent concession to pay city for "other facilities" to this $6 million is left ambiguous, but the estimates contained in the staff report for "other facilities" suggest that the $6 million is paid in full before the 12% kicks in. This is not good for the city. The whole CFD might not produce $6 million in bond proceeds. Even if it produced $12 million, there is about $5 million advanced by the Developer repaid by the city--but only $2.4 million would be available to the city under the formula (including the 12 percent part) to make this payment. 7. The staff analysis of financial considerations does not clearly connect the reduced collection proceeds of the CFD to the city payments and timing of those payments. The adequacy of the collection proceeds is never discussed. Finally, the documents presented in the agenda report are not final documents. They contain lawyer's commentary in several places and can only be considered drafts. The Council should send this whole topic back to staff for clarification. Ask the staff to come back with clear explanations of the numbered items above and examples of distribution of the bond and pay-as-you-go proceeds (to Prior Owner, Developer and San Juan Capistrano) of the CFD under various property valuation scenarios. The value of the typical property in Whispering Hills has dropped from over $1 million to about $650,000 (according to the Developer and CUSD). Your approval of this proposal will drop the special tax rates (Mello-Roos tax) assigned to these properties accordingly. This might first appear to be a good thing. The problem for you is, the City's cost to provide Whispering Hills with utilities and other services has not declined. There is a significant risk that the CFD will not produce sufficient funds to pay for the infrastructure needed to support the development. Thank you for you consideration of this complex topic. Jim Reardon 1 Christy Jakl From: Sent: To: Cc: Subject: Good Morning, Christy Jakl Tuesday, January 31,2012 8:45AM Cindy Russell; Steve Montano Christine Casper Pending Agreements Please see the following comments on pending agreements in our office. Steve-Wireless Community Facilities Lease with T-Mobile-Still need insurance documents as outlined on page 10 of the agreement . They will be placed on non-compliance until documentation is received. Cindy-First Amendment & Restated (CFD 2005-1) Agreement with CUSD-Did you receive back a final executed copy of this agreement? Please let me know if you have any questions. Kindest Regards, Christ)' Jakl Deputy City Clerk City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 (949) 443-6310 1 (949) 493-1053 fax 1 32400 PASEO ADELANTO MEMBERS OF THE CITY COUNCIL SAM ALLEVA TO LAURA FREESE LARRY KRAMER DEREK REEVE JOHN TAYLOR SAN JUAN CAPISTRANO, CA 92675 (949) 493-1171 (949) 493-1053 FAX www.sanjuancapistrano.org TRANSMITTAL TO: Capistrano Unified School District Attn: Ron Lebs, Deputy Superintendent, Business and Support Services 33122 Valle Road San Juan Capistrano, CA 92675 DATE: June 13, 2011 FROM: Maria Morris, City Clerk (949) 443-6309 RE: First Amended and Restated Joint Community Facilities Agreement (CFD 2005-1) Enclosed: (1 0) Original, City executed-First Amended & Restated Joint Community Facilities Agreements (CFD 2005-1) After execution by the Capistrano Unified School District/Rancho San Juan Development LLC/Whispering Hills LLC, please forward (1) executed original agreement to my attention for our records. Please contact Cindy Russell, Chief Financial Officer/Treasurer at (949) 443-6301, with questions regarding the agreement. CC: Cindy Russell, Chief Financial Officer/Treasurer San Juan Capistrano: Preserving the Past to Enhance the Future " \..J Printed on 1 00% recycled paper Christy Jakl From: Lori Fuentes Sent: To: Wednesday, June 08, 2011 2:41 PM Christy Jakl Cc: Cindy Russell Subject: RE: Whispering Hills Reso and Exhibits Hi Christy, As per Cindy, there were no changes made to the resolution last night. We will be receiving 10 copies of signature- ready agreements, which will then be executed by them. They will then send us an executed copy once everything is finished. Please hold off on having the Mayor sign anything until we receive the documents from the attorney. I will get more information on the exhibits to the reso once I speak to Cindy again. Thank you© LORI FUENTES CiTY MANAGER'S OFFICE CITY OF SAN JUAN CAPISTRANO (949) 443-63 1 5 From: Christy Jakl Sent: Wednesday, June 08, 2011 2:06 PM To: Lori Fuentes Subject: Whispering Hills Reso and Exhibits Hi Lori, Where there any changes made to the resolution for whispering hills from last night's meeting? Would you be able to provide me a final copy of the resolution with all its exhibits? I want to be sure, what the Mayor will be signing is the final document. Also, do those exhibits need to be processed. If so, I have not received the amendment, easement agreement or easement with signatures and/or notarization. Thank you for your help. Ch1~isl~ Jakl Deputy City Clerk City of San Juan Capistrano 32400 Paseo Adelanto San Juan Capistrano, CA 92675 {949) 443-6310 I (949) 493-1053 fax 1 Christy Jakl From: Sent: To: Cc: Subject: Lori Fuentes Friday, June 10,201111:31 AM Christy Jakl Cindy Russell FW: Whispering Hills JCFA Ok Christy. I just received clarification from Cindy. The resolution and 10 agreements are ready to be signed. Once the Mayor & Maria have signed all 10 copies, please return them to me. Please do not release the documents to anyone other than me or Cindy. Thank you© LORI FUENTES CITY MANAGER'S OFFICE CiTY OF SAN JUAN CAPISTRANO (949) 443-63 1 5 From: Sam Allevato Sent: Friday, June 10, 2011 11:27 AM To: Lori Fuentes Subject: RE: Whispering Hills JCFA ok From: Lori Fuentes Sent: Friday, June 10, 2011 11:19 AM To: Sam Allevato Cc: Christy Jakl; Cindy Russell Subject: Whispering Hills JCFA Hello Mayor, There are 10 copies of the Whispering Hills JCFA at the Clerk's office ready for your signature. If you could stop by City Hall at your convenience today or Monday, it would be greatly appreciated. Thank you. LORI FUENTES CITY MANAGER'S OFFICE CiTY OF SAN JUAN CAPISTRANO (949) 443-63 1 5 1 Christy Jakl From: Lori Fuentes Sent: To: Thursday, June 09, 2011 3:51 PM Christy Jakl Cc: Cindy Russell Subject: FW: Whispering Hills CFD Hi Christy, As per Cindy, please hold the 10 copies of the agreement and please do not have anything signed until after Cindy speaks with the attorney tomorrow, June 10th. I will provide more information after I speak with Cindy regarding tomorrow's meeting. Thank you so much for your patience!© LORI FUENTES CITY MANAGER'S OFFICE CITY OF SAN JUAN CAPISTRANO (949) 443-63 1 5 From: Lori Fuentes Sent: Thursday, June 09, 2011 3:40 PM To: Cindy Russell (CRussell@sanjuancapistrano.org) Cc: Christy Jakl Subject: Whispering Hills CFD Hi Cindy, Now that we have received the 10 copies of the amended agreement for signature, is it ok for the Mayor to sign the resolution? Thanks© LORI FUENTES CITY MANAGER'S OFFICE CITY OF SAN JUAN CAPISTRANO (949) 443-63 1 5 1 Linda Wolf From: Sent: To: Alex Bowie <D [u~~ 1 . Wednesday, June 08, 2011 11:33 AM ~ 11 ,, " I Cindy Russell; John P. Yeager; Stava, Jeff A.; Lebs, Ron 1.!--~{)))_/'/'vv~LA--- Cc: Biaine Peterson; tcunningham@woodbridgehomes.com; Eric Medel; Linda Wolf Subject: RE: Whispering Hills We are doing 10 copies with one for you and one for Jeff and one extra. They are to be delivered to Jeff who will get them to you. We will take care of messenger costs. John is getting and will provide signature pages and we will copy him with what we send to Jeff. After you get them signed, please call Ron and he will have them picked up. We need them back to Ron hopefully this week, but no later than noon on Monday. If not, we will have to seek to amend the Agenda with a 2/3rds vote and substitute further continuing the matter to the next meeting which no one wants to do. Ab ALEXANDER BOWIE Bowie, Arneson, Wiles & Giannone 4920 Campus Drive Newport Beach, CA 92660 Phone: 949-851-1300 Fax: 949-851-2014 email: abowie@bawg.com Please visit our website: www.bawq.com The information contained in this electronic mail transmission is confidential and intended to be sent only to the stated recipient of the transmission. It may therefore be protected from unauthorized use or dissemination by the attorney-client and/or attorney work-product privileges. If you are not the intended recipient or the intended recipient's agent, you are hereby notified that any review, use, dissemination, distribution or copying of this communication is strictly prohibited. You are also asked to notify us immediately by return e-mail and to delete this message from your system. Thank you in advance for your cooperation. From: Cindy Russell [mailto:CRussell@sanjuancapistrano.org] Sent: Wednesday, June 08, 2011 11:29 AM To: John P. Yeager; Stava, Jeff A.; Alex Bowie; Lebs, Ron Cc: Blaine Peterson; tcunningham@woodbridgehomes.com; Eric Medel Subject: RE: Whispering Hills One more thing. How many copies of the agreement do we need so that we get one original returned to the City. From: John P. Yeager [mailto:jyeager@oneil-llp.com] Sent: Wednesday, June 08, 2011 8:47 AM To: Cindy Russell; Stava, Jeff A.; Alex Bowie; Lebs, Ron Cc: Blaine Peterson; tcunningham@woodbridgehomes.com; Eric Medel Subject: Whispering Hills I want to thank all of you for you patience and hard work that led to the City Council's unanimous approval of the Amended JCFA last night. Cindy deserves a special thanks not only for the incredible job she did last night in providing a simplified but complete presentation to the City Council of a pretty complex subject, but also for getting the amendment to the Council while balancing all of the other "little" issues faced by the City and its Redevelopment Agency during the period of time we have been working on the JCFA. I will be coordinating with Alex this morning to make sure the parties have the execution versions of the amended JCFA and Mitigation Agreement. We would like to have the developer execute those in the next couple of days. Congratulations again to everybody! 1