Approved Budget
Fiscal Year 2020

Armstrong Community Development District

June 6, 2019

Armstrong
Community Development District	General Fund

	Amended
Budget		Actual
thru		Projected
Next		Total
Projected		Approved
Budget	
Description		FY2019		4/30/19		5 Months		Thru 9/30/19		FY2020	
Revenues											

$0	$0	$0	$0	$199,200	
$240,759	$99,053	$55,704	$154,757	$287,153	
$240,759	$99,053	$55,704	$154,757	$486,353	

Assessments - Net Developer Contributions

Total Revenues

Expenditures
Administrative		
Supervisors Fees	$6,000	$4,800	$4,000	$8,800	$9,600	
FICA Expense	$459	$367	$306	$673	$734	
Engineering	$15,000	$5,325	$5,000	$10,325	$10,000	
Arbitrage	$600	$0	$0	$0	$600	
Assessment Roll	$5,000	$0	$0	$0	$5,000	
Dissemination Agent	$3,500	$2,042	$1,458	$3,500	$3,500	
Attorney	$20,000	$17,673	$12,624	$30,297	$30,000	
Annual Audit	$5,000	$0	$4,100	$4,100	$4,200	
Trustee	$5,275	$3,717	$0	$3,717	$3,717	
Management Fees	$45,000	$25,250	$18,750	$44,000	$45,000	
Computer Time	$1,500	$875	$625	$1,500	$1,500	
Telephon·e	$250	$168	$120	$288	$300	
Postage	$100	$227	$162	$389	$300	
Insurance	$6,050	$5,500	$0	$5,500	$6,050	
Printing & Binding	$1,500	$1,125	$804	$1,929	$2,000	
Legal Advertising	$2,500	$347	$1,500	$1,847	$2,000	
Other Current Charges	$500	$240	$171	$411	$500	
Website Admin	$1,000	$583	$416	$999	$1,000	
Website Compliance	$0	$2,250	$0	$2,250	$0	
Property Taxes	$1,200	$580	$0	$580	$1,200	
Office Supplies	$150	$58	$0	$58	$150	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
	$120,759	$71,302	$50,036	$121,338	$127,527	

Field						
Operations Management	$10,000	$0	$0	$0	$10,000	
Utilities	$60,000	$5,187	$5,000	$10,187.	$60,000	
Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Landscape	$50,000	$0	$10,000	$10,000	$52,365	
Landscape - Contingency	$0	$0	$0	$0	$5,000	
Lake Maintenance	$0	$0	$2,500	$2,500	$12,000	
Irrigation ,Repairs	$0	$0	$3,000	$3,000	$10,000	
Storm Cleanup	$0	$0	$0	$0	$10,000	
Field Expenses	$120,000	$5,187	$20,500	$25,687	$164,365	

Armstrong
Community Development District	General Fund

 	 	 	 	 

 Description	

Amended Budget
 	FY2019	

Actual thru
 	4/30/19	

Projected Next
 	5 Months	

Total Projected Thru 9/30/19

Approved Budget
 	FY2020	

Amenity Center		
Insurance	$0	$0	$0	$0	$19,974	
Phone/lnterne1/Cable	$0	$0	$0	$0	$5,000	
Electric	$0	$0	$0	$0	$25,000	
Water/Irrigation	$0	$0	$0	$0	$15,000	
Gas	$0	$0	$0	$0	$200	
Refuse Service	$0	$0	$0	$0	$2,500	
Security Monitoring	$0	$0	$0	$0	$600	
Access Cards	$0	$0	$0	$0	$2,500	
Field Mgm1/Admin	$0	$0	$0	$0	$15,000	
Amenity Landscaping	$0	$0	$0	$0	$30,631	
Pool Maintenance	$0	$0	$0	$0	$12,000	
Pool Chemicals	$0	$0	$0	$0	$10,000	
Janitorial	$0	$0	$0	$0	$7,000	
Janitorial Supplies	$0	$0	$0	$0	$3,450	
Facility Maintenance	$0	$0	$0	$0	$7,500	
Repairs & Maintenance	$0	$0	$0	$0	$4,310	
Special Events	$0	$0	$0	$0	$5,000	
Holiday Decorations	$0	$0	$0	$0	$1,500	
Fitness Equipment Lease (Sofilco)	$0	$0	$7,732	$7,732	$23,196	
Fitness Center Repairs/Supplies	$0	$0	$0	$0	$900	
Office Supplies	$0	$0	$0	$0	$1,500	
ASCAP/BMI License Fees	$0	$0	$0	$0	$500	
Pest Control	$0	$0	$0	$0	$1,200	
Amenity Center	
$0 		$0	$7,732	$7,732	 		$194,461	
Total Expenses	
$240,759	$76,489	$78,268	$154,757	 		$486,353	
ASSIGNED FUND BALANCE	 	$0	$22,564	-$22,564	$0	 		$0	
	
Platted Lots:			
FY 2020	
	     Assessments -Admin & Field				500	
	Net Assessment - Per Unit			$559	
	Total Net Assessments			$279,500	
	Gross Assessment (6% Discount)			$296,270	
	Gross Assessment - Per Unit			$593	

     Assessments -Amenit 	
	# Units		Per Unit		
43' Lot		51	$972	$	49,588	
53' Lot		73	$972	$	70,978	
63' Lot		76	$972	    $	73,895 	
				$	194,461	

2

Armstrong
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET

REVENUES:

Developer Contributions
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to fund all General Fund Expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District's Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(S), which relates to additional reporting requirements for un-rated bond issues. GMS, LLC will act as Dissemination Agent.

Attorney
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required to annually conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The fee is based on similar Community Development Districts and includes the GASB 34 pronouncement.

Trustee Fees
The District issued Series 2017A/B that are held with a Trustee at US Bank. The amount of the trustee fees is based on the agreement between the Bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Postage.
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Page 3

Armstrong
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET

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

Insurance
The District has a General Liability & Public Officials Liability Insurance policy with Egis Insurance & Risk Advisors, a firm that specializes in providing insurance coverage to governmental agencies.

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

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Website Administration
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.

Property Taxes
Represents the Ad Valorem taxes due on a Conservation Easement held by the Districts. Taxes are paid to Jimmy Weeks, Clay County Tax Collector.

Office Supplies
Miscellaneous office supplies.

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

Page 4

Armstrong
Community Development District	Debt Service Fund
Series 2017A/B

	Adopted Budget	Actual thru	Projected Next	Total Projected	Approved Budget	
Description	FY2019	4/30/19	5 Months	Thru 9/30/19	FY2020	

Revenues						

Direct Assessments	$414,675	$1,766,572	$164,400	$1,930,972	$316,481	
Interest Income	$0	$2,079	$600	$2,679	$0	
Carry Forward Surplus	$176,208	$542,694	$0	$542,694	$213,680	

Total Revenues	 	$590,883	$2,311,345	$165,000	$2,476,345		$530,161

Expenditures		
Series 2017A		
Interest 11/1	$98,975	$98,975	$0	$98,975	$98,975	
Interest 11/1	$0	$0	$0	$0	$65,000	
Principal 5/1	$98,975	$0	$98,975	$98,975	$97,797	
Series 20178						
Interest 11/1	$75,863	$75,863	$0	$75,863	$25,331	
Special Call 11/1	$0	$365,000	$0	$365,000	$0	
Special Call 2/1	$0	$185,000	$0	$185,000	$0	
Interest Expense 2/1	$0	$2,428	$0	$2,428	$0	
Interest 5/1	$75,863	$0	$61,425	$61,425	$25,331	
Special Call 5/1	$0	$0	$1,375,000	$1,375,000	$0	
Total Debt Service Expenditures	 	$349,675	$727,266	$1,535,400 	$2,262,666	 		$312,435	
EXCESS REVENUES/ (EXPENDITURES)	 	$241,208	$1,584,080		(1,370,400)	213,680	 		217,726	
		
11/1/20 Interest	
$	
123,128	
		11/1/20 Principal	$	70,000	
	
     Assessments	
# Units
43' Lot	51	
2017A
Per Unit
$1,053		

$53,703	
	53'Lot	73	$1,299		$94,827	
	63' Lot	76	$1,543		$117,268	
				$265,798	

5

Armstrong
COMMUNITY DEVELOPMENT DISTRICT

Series 2017A, 2023 Maturity
Amortization Schedule

  	  	 	
PRINCIPAL
DATE	 	BALANCE	RATE	 	INTEREST	PRINCIPAL	 	TOTAL

1-May-18	$	355,000	3.63%	$	10,304.00	$	$	
1-Nov-18	$	355,000	3.63%	$	6,434.38	$	$	16,738.38	
1-May-19	$	355,000	3.63%	$	6,434.38	$	$	
1-Nov-19	$	355,000	3.63%	$	6,434.38	$	65,000.00	$	77,868.75	
1-May-20	$	290,000	3.63%	$	5,256.25	$	$	
i-Nov-20	$	290,000	3.63%	$	5,256.25	$	70,000.00	$	80,512.50	
1-May-21	$	220,000	3.63%	$	3,987.50	$	$	
1-Nov-21	$	220,000	3.63%	$	3,987.50	$	70,000.00	$	77,975.00	
1-May-22	$	150,000	3.63%	$	2,718.75	$	$	
1-Nov-22	$	150,000	3.63%	$	2,718.75	$	75,000.00	$	80,437.50	
1-May-23	$	75,000	3.63%	$	1,359.38	$	$	
1-Nov-23	$	75,000	3.63%	$	1,359.38	$	75,000.00	$	77,718.75	

(1)

$

 	Total		 $	53,532.13	 $	280,000.00	 $	333,532.13 

< 1J	R€:J?fesents Interest from 9/6/17 lhrough 5/1/18

6

Armstrong
COMMUNITY DEVELOPMENT DISTRICT

Series 2017A, 2028 Maturity
Amortization Schedule

	
DATE	PRINCIPAL BALANCE			
RATE		
INTEREST		
PRINCIPAL		
TOTAL		

1-May-18	

$	430,000			

4.50%		

$	12,481.23		

$		

$		
	1-Nov-18	$	430,000			4.50%		$	9,675.00		$		$	22,156.23		
	1-May-19	$	430,000			4.50%		$	9,675.00		$		$		
	1-Nov-19	$	430,000			4.50%		$	9,675.00		$		$	19,350.00		
	1-May-20	$	430,000			4.50%		$	9,675.00		$		$		
	1-Nov-20	$	430,000			4.50%		$	9,675.00		$		$	19,350.00		
	1-May-21	$	430,000			4.50%		$	9,675.00		$		$		
	1-Nov-21	$	430,000			4.50%		$	9,675.00		$		$	19,350.00		
	1-May-22	$	430,000			4.50%		$	9,675.00		$		$		
	1-Nov-22	$	430,000			4.50%		$	9,675.00		$		$	19,350.00		
	1-May-23	$	430,000			4.50%		$	9,675.00		$		$		
	1-Nov-23	$	430,000			4.50%		$	9,675.00		$		$	19,350.00		
	1-May-24	$	430,000			4.50%		$	9,675.00		$				
	1-Nov-24	$	430,000			4.50%		$	9,675.00		$	80,000.00		$	99,350.00		
	1-May-25	$	350,000			4.50%		$	7,875.00		$		$		
	1-Nov-25	$	350,000			4.50%		$	7,875.00		$	80,000.00		$	95,750.00		
	1-May-26	$	270,000			4.50%		$	6,075.00		$		$		
	1-Nov-26	$	270,000			4.50%		$	6,075.00		$	85,000.00		$	97,150.00		
	1-May-27	$	185,000			4.50%		$	4,162.50		$		$		
	1-Nov-27	$	185,000			4.50%		$	4,162.50		$	90,000.00		$	98,325.00		
	1-May-28	$	95,000			4.50%		$	2,137.50		$		$		
	1-Nov-28	$	95,000			4.50%		$	2,137.50		$	95,000.00		$	99,275.00		
					Total		$	178,756.23		$	430,000.00		$	608,756.23		
	
Reixesents Interest from	
9/6117 through 5/1/18											

(1)

(1)

7

DATE	PRINCIPAL BALANCE	
RATE	
INTEREST	
PRINCIPAL	
TOTAL	

1-May-18	
$	665,000	
5.00%	
$	19,302.37	
$	
$	
1-Nov-18	$	665,000	5.00%	$	16,625.00	$	$	35,927.37	
1-May-19	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-19	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-20	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-20	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-21	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-21	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-22	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-22	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-23	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-23	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-24	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-24	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-25	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-25	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-26	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-26	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-27	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-27	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-28	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-28	$	665,000	5.00%	$	16,625.00	$	$	33,250.00	
1-May-29	$	665,000	5.00%	$	16,625.00	$	$	
1-Nov-29	$	665,000	5.00%	$	16,625.00	$	100,000.00	$	133,250.00	
1-May-30	$	565,000	5.00%	$	14,125.00	$	$	
1-Nov-30	$	565,000	5.00%	$	14,125.00	$	100,000.00	$	128,250.00	
1-May-31	$	465,000	5.00%	$	11,625.00	$	$	
1-Nov-31	$	465,000	5.00%	$	11,625.00	$	105,000.00	$	128,250.00	
1-May-32	$	360,000	5.00%	$	9,000.00	$	$	
1-Nov-32	$	360,000	5.00%	$	9,000.00	$	115,000.00	$	133,000.00	
1-May-33	$	245,000	5.00%	$	6,125.00	$	$	
1-Nov-33	$	245,000	5.00%	$	6,125.00	$	120,000.00	$	132,250.00	
1-May-34	$	125,000	5.00%	$	3,125.00	$	$	
1-Nov-34	$	125,000	5.00%	$	3,125.00	$	125,000.00	$	131,250.00	
		Total	$	489,677.37	$	665,000.00	$	1,154,677.37	

Represents Interest from	
9/6/17 through 5/1/18					

(1)

(1)

Armstrong	Series 2017A,  2034 Maturity
COMMUNITY DEVELOPMENT DISTRICT	Amortization Schedule

8

Armstrong	Series 2017A,  2048 Maturity
COMMUNITY DEVELOPMENT DISTRICT	Amortization Schedule

PRINCIPAL
 	DATE		 BALANCE	RATE		 INTEREST		 PRINCIPAL		 TOTAL	

1-May-18	$	2,585,000	5.13%	$	75,033.00	$	$	
1-Nov-18	$	2,585,000	5.13%	$	66,240.63	$	$	141,273.63	
1-May-19	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-19	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-20	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-20	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-21	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-21	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-22	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-22	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-23	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-23	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-24	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-24	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-25	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-25	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-26	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-26	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-27	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-27	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-2a	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-28	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-29	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-29	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-30	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-30	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-31	$	2,585,000	5.13%	$	. 66,240.63	$	$	
1-Nov-31	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-32	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-32	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-33	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-33	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-fylay-34	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-34	$	2,585,000	5.13%	$	66,240.63	$	$	132,481.25	
1-May-35	$	2,585,000	5.13%	$	66,240.63	$	$	
1-Nov-35	$	2,585,000	5.13%	$	66,240.63	$	130,000.00	$	262,481.25	
1-May-36	$	2,455,000	5.13%	$	62,909.38	$	$	
1-Nov-36	$	2,455,000	5.13%	$	62,909.38	$	140,000.00	$	265,818.75	
1-May-37	$	2,315,000	5.13%	$	59,321.88	$	$	
1-Nov-37	$	2,315,000	5.13%	$	59,321.88	$	145,000.00	$	263,643.75	
1-May-38	$	2,170,000	5.13%	$	55,606.25	$	$	
1-Nov-38	$	2,170,000	5.13%	$	55,606.25	$	150,000.00	$	261,212.50	
1-May-39	$	2,020,000	5.13%	$	51,762.50	$	$	
1-Nov-39	$	2,020,000	5.13%	$	51,762.50	$	160,000.00	$	263,525.00	
1-May-40	$	1,860,000	5.13%	$	47,662.50	$	$	
1-Nov-40	$	1,860,000	5.13%	$	47,662.50	$	170,000.00	$	265,325.00	
1-May-41	$	1,690,000	5.13%	$	43,306.25	$	$	
1-Nov-41	$	1,690,000	5.13%	$	43,306.25	$	175,000.00	$	261,612.50	
1-May-42	$	1,515,000	5.13%	$	38,821.88	$	$	
1-Nov-42	$	1,515,000	5.13%	$	38,821.88	$	1aq,ooo.oo	$	262,643.75	
1-May-43	$	1,330,000	5.13%	$	34,081.25	$	$	
1-Nov-43	$	1,330,000	5.13%	$	34,081.25	$	195,000.00	$	263,162.50	
1-May-44	$	1,135,000	5.13%	$	29,084.38	$	$	
1-Nov-44	$	1,135,000	5.13%	$	29,084.38	$	205,000.00	$	263,168.75	
1-May-45	$	930,000	5.13%	$	23,831.25	$	$	
1-Nov-45	$	930,000	5.13%	$	23,831.25	$	215,000.00	$	262,662.50	
1-May-46	$	715,000	5.13%	$	18,321.88	$	$	
1-Nov-46	$	715,000	5.13%	$	18,321.88	$	225,000.00	$	261,643.75	
1 May-47	$	490,000	5.13%	$	12,556.25	$	$	
1-Nov-47	$	490,000	5.13%	$	12,556.25	$	240,000.00	$	265,112.50	
1-May-48	$	250,000	5.13%	$	6,406.25	$	$	
1-Nov-48	$	250,000	5.13%	$	6,406.25	$	250,000.00	$	262,812.50	
		 	Total		$     3,360,798.63		$       2,585,000.00		$ 5,945,798.63	

Represents Interest from 9/6/17	
through 5'1118					

"'

"'
9

Armstrong	Series 2017A

DATE	PRINCIPAL BALANCE	
INTEREST	
PRINCIPAL	
 	TOTAL		
1-May-18	$	4,035,000	$	117,121	$	$	
1-Nov-18	$	4,035,000	$	98,975	$	$	216,095.60	
1-May-19	$	4,035,000	$	98,975	$	$	
1-Nov-19	$	4,035,000	$	98,975	$	65,000	$	262,950.00	
1-May-20	$	3,970,000	$	97,797	$	$	
1-Nov-20	$	3,970,000	$	97,797	$	70,000	$	265,593.75	
1-May-21	$	3,900,000	$	96,528	$	$	
1-Nov-21	$	3,900,000	$	96,528	$	70,000	$	263,056.25	
1-May-22	$	3,830,000	$	95,259	$	$	
1-Nov-22	$	3,830,000	$	95,259	$	75,000	$	265,518.75	
1-May-23	$	3,755,000	$	93,900	$	$	
1-Nov-23	$	3,755,000	$	93,900	$	75,000	$	262,800.00	
1-May-24	$	3,680,000	$	92,541	$	$	
1-Nov-24	$	3,680,000	$	92,541	$	80,000	$	265,081.25	
1-May-25	$	3,600,000	$	90,741	$	$	
1-Nov-25	$	3,600,000	$	90,741	$	80,000	$	261,481.25	
1-May-26	$	3,520,000	$	88,941	$	$	
1-Nov-26	$	3,520,000	$	88,941	$	85,000	$	262,881.25	
1-May-27	$	3,435,000	$	87,028	$	$	
1-Nov-27	$	3,435,000	$	87,028	$	90,000	$	264,056.25	
1-May-28	$	3,345,000	$	85,003	$	$	
1-Nov-28	$	3,345,000	$	85,003	$	95,000	$	265,006.25	
1-May-29	$	3,250,000	$	82,866	$	$	
1-Nov-29	$	3,250,000	$	82,866	$	100,000	$	265,731.25	
1-May-30	$	3,150,000	$	80,366	$	$	
1-Nov-30	$	3,150,000	$	80,366	$	100,000	$	260,731.25	
1-May-31	$	3,050,000	$	77,866	$	$	
1-Nov-31	$	3,050,000	$	77,866	$	105,000	$	260,731.25	
1-May-32	$	2,945,000	$	75,241	$	$	
1-Nov-32	$	2,945,000	$	75,241	$	115,000	$	265,481.25	
1-May-33	$	2,830,000	$	72,366	$	$	
1-Nov-33	$	2,830,000	$	72,366	$	120,000	$	264,731.25	
1-May-34	$	2,710,000	$	69,366	$	$	
1-Nov-34	$	2,710,000	$	69,366	$	125,000	$	263,731.25	
1-May-35	$	2,585,000	$	66,241	$	$	
1-Nov-35	$	2,585,000	$	66,241	$	130,000	$	262,481.25	
1-May-36	$	2,455,000	$	62,909	$	$	
1-Nov-36	$	2,455,000	$	62,909	$	140,000	$	265,818.75	
1-May-37	$	2,315,000	$	59,322	$	$	
1-Nov-37	$	2,315,000	$	59,322	$	145,000	$	263,643.75	
1-May-38	$	2,170,000	$	55,606	$	$	
1-Nov-38	$	2,170,000	$	55,606	$	150,000	$	261,212.50	
1-May-39	$	2,020,000	$	51,763	$	$	
1-Nov-39	$	2,020,000	$	51,763	$	160,000	$	263,525.00	
1-May-40	$	1,860,000	$	47,663	$	$	
1-Nov-40	$	1,860,000	$	47,663	$	170,000	$	265,325.00	
1-May-41	$	1,690,000	$	43,306	$	$	
1-Nov-41	$	1,690,000	$	43,306	$	175,000	$	261,612.50	
1-May-42	$	1,515,000	$	38,822	$	$	
1-Nov-42	$	1,515,000	$	38,822	$	185,000	$	262,643.75	
1-May-43	$	1,330,000	$	34,081	$	$	
1-Nov-43	$	1,330,000	$	34,081	$	195,000	$	263,162.50	
1-May-44	$	1,135,000	$	29,084	$	$	
1-Nov-44	$	1,135,000	$	29,084	$	205,000	$	263,168.75	
1-May-45	$	930,000	$	23,831	$	$	
1-Nov-45	$	930,000	$	23,831	$	215,000	$	262,662.50	
1-May-46	$	715,000	$	18,322	$	$	
1-Nov-46	$	715,000	$	18,322	$	225,000	$	261,643.75	
1-May-47	$	490,000	$	12,556	$	$	
1-Nov-47	$	490,000	$	12,556	$	240,000	$	265,112.50	
1-May-48	$	250,000	$	6,406	$	$	
1-Nov-48	$	250,000	$	6,406	$	250,000	$	262,812.50	

COMMUNITY DEVELOPMENT DISTRICT	Amortization Schedule

(1)

 	 	

(1) Represents Interest from 9/6/17 through 511/18

 	$	4,085,483.10		$	4,035,000.00	$	8,120,483.10

10

Armstrong
COMMUNITY DEVELOPMENT DISTRICT

Series 20178
Amortization Schedule

  	  	 	
PRINCIPAL
DATE	 	BALANCE	RATE	 	INTEREST	 	PRINCIPAL	 	TOTAL

1-May-18	$	2,890,000	5.25%	$	89,770.63	$	$	
1-Nov-18	$	2,890,000	5.25%	$	75,862.50	$	365,000.00	$	530,633.13	
1-Feb-19	$	2,525,000	5.25%	$	2,428.13	$	185,000.00	$	187,428.13	
1-May-19	$	2,340,000	5.25%	$	61,425.00	$	1,375,000.00	$	1,436,425.00	
1-Nov-19	$	965,000	5.25%	$	25,331.25	$	$	25,331.25	
1-May-20	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-20	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-21	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-21	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-22	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-22	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-23	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-23	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-24	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-24	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-25	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-25	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-26	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-26	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-27	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-27	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-28	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-28	$	965,000	5.25%	$	25,331.25	$	$	50,662.50	
1-May-29	$	965,000	5.25%	$	25,331.25	$	$	
1-Nov-29	$	965,000	5.25%	$	25,331.25	$	965,000.00	$	1,015,662.50	
		Total	$	761,442.51	$	2,890,000.00	$	3,651,442.51	

Reixesents Interest from	
9/6/17 lhrough 5/1/18					

(1)

(1)

11