Armstrong Community Development District
Adopted Budget FY 2022

Table of Contents

1-2

3-9

10

11

12

13-14

 	General Fund

 	General Fund Narrative

 	Debt Service Fund Series 2017A/B

 	Amortization Schedule Series 2017A/B

 	Debt Service Fund Series 2019

 	Amortization Schedule Series 2019

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected at	Adopted
Budget	
	FY2021	8/31/21	1 Months	9/30/21	FY2022	

Revenues
Special Assessments - Platted Lots	

$294,400	

$295,461	

$0	

$295,461	

$504,612	
Cost Share - Tynes Blvd	$36,000	$16,166	$19,834	$36,000	$36,000	
Developer Assessment - Unplatted Lots	$29,440	$29,440	$0	$29,440	$0	
Developer Contributions	$154,137	$154,137	$0	$154,137	$0	
Miscellanous Income	$0	$43	$0	$43	$0	
Total Revenues	$513,977	$495,247	$19,834	$515,081	$540,612	

Expenditures						
Administrative
Supervisors Fees	
$9,600	
$3,000	
$800	
$3,800	
$9,600	
FICA Expense	$734	$230	$61	$291	$734	
Engineering	$10,000	$3,756	$544	$4,300	$6,000	
Arbitrage	$600	$1,100	$0	$1,100	$1,100	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Dissemination	$7,000	$6,767	$1,167	$7,933	$7,000	
Attorney	$20,000	$4,813	$2,687	$7,500	$12,000	
Annual Audit	$5,800	$3,910	$0	$3,910	$3,910	
Trustee Fees	$3,717	$7,758	$0	$7,758	$7,800	
Management Fees	$45,000	$41,250	$3,750	$45,000	$45,000	
Information Technology	$1,500	$1,375	$125	$1,500	$1,800	
Website Maintenance	$1,000	$917	$83	$1,000	$1,250	
Telephone	$300	$164	$26	$190	$200	
Postage	$300	$452	$48	$500	$600	
Insurance	$6,484	$6,484	$0	$6,484	$6,550	
Printing & Binding	$2,000	$1,245	$155	$1,400	$1,500	
Legal Advertising	$2,500	$1,586	$914	$2,500	$2,500	
Other Current Charges	$500	$303	$47	$350	$500	
Property Taxes	$1,200	$0	$0	$0	$0	
Office Supplies	$100	$154	$16	$170	$250	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$123,511	$90,439	$10,423	$100,862	$113,469	

Field
Security	

$30,000	

$41,343	

$0	

$41,343	

$45,000	
Electric	$1,500	$1,358	$120	$1,478	$6,000	
Water & Sewer/Irrigation	$48,500	$22,305	$3,125	$25,430	$30,000	
Repairs & Maintenance	$5,000	$874	$126	$1,000	$5,000	
Landscape - Contract	$61,977	$68,249	$7,398	$75,647	$88,778	
Landscape - Contingency	$5,000	$3,080	$920	$4,000	$5,000	
Landscape - Pond Banks	$0	$8,121	$1,160	$9,282	$13,922	
Lake Maintenance	$10,000	$8,580	$780	$9,360	$10,000	
Irrigation Repairs	$10,000	$1,665	$335	$2,000	$10,000	
Total Field	$171,977	$155,575	$13,964	$169,539	$213,700	

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected at	Adopted
Budget	
	FY2021	8/31/21	1 Months	9/30/21	FY2022	

Amenity Center						
Insurance	$23,102	$22,536	$0	$22,536	$25,410	
Phone/Internet/Cable	$5,000	$1,747	$193	$1,940	$3,000	
Electric	$20,000	$11,028	$2,500	$13,528	$16,000	
Water/Irrigation	$15,000	$4,425	$575	$5,000	$6,000	
Gas	$1,000	$876	$154	$1,030	$1,500	
Reuse Service	$2,500	$1,929	$198	$2,127	$2,500	
Security Monitoring	$600	$0	$0	$0	$0	
Access Cards	$2,500	$879	$0	$879	$2,500	
Field Mgmt/Admin	$15,000	$0	$0	$0	$0	
Landscape - Contract	$30,631	$27,808	$2,553	$30,361	$30,631	
Fitness Equipment Lease (Sofitco)	$17,500	$15,567	$1,415	$16,982	$17,500	
Janitorial Services	$43,646	$19,350	$1,559	$20,909	$20,000	
Janitorial Supplies	$6,500	$593	$157	$750	$4,000	
Pool Maintenance	$12,600	$11,533	$2,300	$13,833	$15,100	
Repairs & Maintenance	$11,810	$4,411	$589	$5,000	$9,000	
Special Events	$4,000	$3,218	$782	$4,000	$0	
Holiday Decorations	$3,000	$807	$693	$1,500	$0	
Fitness Center Repairs/Supplies	$900	$285	$285	$570	$2,500	
Office Supplies	$1,500	$104	$46	$150	$1,000	
ASCAP/BMI License Fees	$500	$0	$500	$500	$500	
Pest Control	$1,200	$405	$45	$450	$800	
Operating Reserve	$0	$0	$0	$0	$55,502	
Total Amenity Center	$218,489	$127,502	$14,543	$142,045	$213,443	
						
Total Expenditures	$513,977	$373,516	$38,931	$412,447	$540,612	
						
Excess Revenues/(Expenditures)	$0	$121,730	($19,096)	$102,634	$0	

Platted Lots:	FY 2021	FY 2022

Assessments - On Roll	368	483	
Net Assessment - Per Unit	$800	$1,045	
Total Net Assessments	$294,400	$504,612	
Gross Assessment (6% Discount)	$312,064	$534,889	
Gross Assessment - Per Unit	$851	$1,112	

REVENUES:

Special Assessments

The District will levy a Non-Ad Valorem assessment on platted lots within the District.

Cost Share – Tynes Blvd

The District will enter into an Agreement with East/West Partners and future landowners to cover the proportionate share of landscaping and irrigation services of Tynes Blvd.

EXPENDITURES:

Administrative:

Supervisors Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The amount is based on 4 supervisors attending 12 meetings during the fiscal year.

FICA Expense

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

Engineering

The District's engineer, England-Thims & Miller, will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

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.

Assessment Administration

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

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)- 12(b)(5), which relates to additional reporting requirements for un-rated bond issues. GMS, LLC will act as Dissemination Agent.

Attorney

The District's legal counsel, Hopping, Green & Sams, will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required to annually conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted with Berger, Toombs, Elam, Gaines & Frank for this service.

Trustee Fees

The District issued Series 2017A/B Special Assessment Revenue Bonds and Series 2019 Special Assessment Revenue Bonds that are deposited with a Trustee at US Bank. The amount of the trustee fees is based on the agreements between the Bank and the District.

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology

Represents costs related to District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

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

Telephone

Telephone and fax machine.

Postage

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

Insurance

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

Printing & Binding

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

Legal Advertising

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

Other Current Charges

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

Property Taxes

Represents the Ad Valorem taxes due on a Conservation Easement held by the Districts. Taxes are paid to Diane Hutchings, 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.

Field:

Security

The District has entered into an agreement with Viewpoint Security for private onsite patrols.

Electric

The District will open electric accounts to serve the common areas. The District currently has 2 accounts with Clay Electric Cooperative Inc.

Account #	Description	Monthly	Annually	
9054872	3599 Royal Pines Drive Irrigation	$	50	$	600	
9082351	705 Tynes Boulevard Irrigation	$	35	$	420	
9143346	3814 Royal Pines	$	390	$	4,680	
	Contingency		$	300	
	TOTAL		$	6,000	

Water & Sewer

Represents costs for water services for areas within the District. The District currently has eight accounts with Clay County Utility Authority.

Account #	Description	
567729	3518 Royal Pines Drive Reclaimed Irrigation	
568411	3682 Royal Pines Drive Reclaimed Irrigation	
574048	3645 Royal Pines Drive Reclaimed Irrigation	
577060	875 Tynes Boulevard Reclaimed Irrigation	
577061	705 Tynes Boulevard Reclaimed Irrigation	
586607	3976 Heatherbrook Pl. Reclaimed Irrigation	
586608	4121 Heatherbrook Pl. Reclaimed Irrigation	
588041	3846 Sunberry Lane Reclaimed Irrigation	

Repairs & Maintenance

Miscellaneous repairs and needed maintenance of the District common areas.

Landscape – Contract

The District has contracted with Tree Amigos Outdoor Services, Inc. to furnish all supervision, labor, materials, equipment, and transportation required to maintain the landscape and irrigation system for the common area and Tynes area of the District.

Description	Monthly	Annually	
Landscape - Common Areas	$	4,364	$	52,365	
Landscape - Tynes	$	801	$	9,612	
Landscape - Phase 2	$	2,233	$	26,801	
		$	88,778	

Landscape - Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Landscape – Pond Banks

The District has contracted with Tree Amigos Outdoor Services, Inc. to furnish all supervision, labor, materials, equipment, and transportation required to maintain the landscape and irrigation system for the Phase 1 pond banks and Phase 2 & 3 pond banks, pocket/common area and right-of-way.

Description	Monthly	Annually	
Landscape - Lakes	$	1,160	$	13,922
$	13,922	

Lake Maintenance

The District has entered into an agreement with Sitex Aquatics, LLC for the maintenance of six (6) ponds. Service will include 12 treatments/inspections.

Description	Monthly	Annually	
Lake Bank Maintenance - 6 Ponds	$	780
Contingency	$	9,360
$	640	
	$	10,000	

Irrigation Repairs

Represents estimated costs for any repairs and maintenance to irrigation system.

Amenity Center:

Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Phone/Internet/Cable

Represents telephone, internet and cable services to the clubhouse. District currently has one account with AT&T for telephone and internet services.

Account #	Description	Monthly	Annually	
300208593	Internet/Telephone #904-203-7112	$	175	$	2,100	
	Contingency		$	900	
	TOTAL		$	3,000	

Electric

Represents electric service the clubhouse. The District has 1 account with Clay Electric Cooperative Inc.

Account #	Description	Monthly	Annually	
9082120	3645 Royal Pines Drive Amenity Center	$	1,250	$	15,000	
	Contingency		$	1,000	
	TOTAL		$	16,000	

Water/Irrigation

Represents water service to the clubhouse and pool. The District has 2 accounts with Clay County Utility Authority.

3645 Royal Pines Drive Pool
3645 Royal Pines Drive Clubhouse

574046
574047

Description

Account #

Gas

The District has contracted with Gas South f/k/a TECO Peoples Gas for gas service to the clubhouse.

Account #	Description	Monthly	Annually	
221007627575	3645 Royal Pines Drive Amenity Center	$	100	$	1,200	
	Contingency		$	300	
	TOTAL		$	1,500	

Reuse Service

The District has contracted with Waste Management for monthly dumpster rental and removal.

Account #	Description	Monthly	Annually	
2-52706-				
92375	1090 Oakleaf Plantation Parkway	$	200	$	2,400	
	Contingency		$	100	
	TOTAL		$	2,500	

Access Cards

Represents the estimated cost for access cards to the District’s Amenity Center.

Landscape – Contract

The District has contracted with Tree Amigos Outdoor Services, Inc. to furnish all supervision, labor, materials, equipment, and transportation required to maintain the landscape and irrigation system for the Amenity Center area of the District.

Description	Monthly	Annually	
Landscape - Amenity Center	$	2,553	$	30,631	
	$	30,631	

Fitness Equipment Lease

The District is leasing equipment from Municipal Asset Management for the Fitness Center. District entered into agreement on 5/20/19 and term set to expire on 6/12/23.

Description	Monthly	Annually	
Fitness Center Equipment	$	1,415
Contingency	$	16,983
$	517	
	$	17,500	

Janitorial Services

The District has contracted with Summit Facility Solutions for janitorial services for the Amenity Center.

Description	Monthly	Annually	
Janitorial Services	$	1,559
Contingency	$	18,706
$	1,294	
	$	20,000	

Janitorial Supplies

Represents estimated costs for cleaning supplies for the janitorial staff.

Pool Maintenance

The District has entered into an agreement on 6/6/19 with Crown Pools Inc. for the monthly service of the pool at the rate of $1050 monthly. Services include three (3) weekly visits to complete cleaning of pool, brushing of tile, walls, floor, skim and deep netting vacuum when needed. Will check all equipment and water levels.

Description	Monthly	Annually	
Pool Maintenance	$	1,050	$	12,600	
VakPak 1 Yr Extended Warranty & Pre-Maintenance		$	1,500	
Contingency - Repairs		$	1,000	
		$	15,100	

Repairs & Maintenance

Cost of routine repairs and replacements of the District’s common areas and Amenity Center.

Fitness Center Repairs/Supplies

Represents costs of regular maintenance and any necessary repairs to the Fitness equipment.

Description	Quarterly	Annually	
Maintenance Contract	$	300
Contingency - Equipment Repair	$	1,200
$	1,300	
	$	2,500	

Office Supplies

Represents estimated cost of supplies for the Amenity Center.

ASCAP/BMI License Fees

The cost of showing movies and streaming music in the Amenity Center.

Pest Control

The District has entered into an agreement with Apex Pest Control, Inc. for pest control services for the Amenity Center. Service will be performed once a month.

Description	Monthly	Annually	
Pest Control Services	$	45
Contingency	$	540
$	260	
	$	800	

Operating Reserves

Represents reserve funds allocated for operating expenses.

Armstrong
Community Development District

Fiscal Year 2022 Debt Service Fund Series 2017A

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected at	Adopted
Budget	
	FY2021	8/31/21	1 Months	9/30/21	FY2022	

Revenues						
Assessments - Series 2017A On Roll	$265,819	$266,777	$0	$266,777	$265,819	
Interest Income	$0	$20	$0	$20	$0	
Carry Forward Surplus	$171,155	$172,862	$0	$172,862	$175,321	
Total Revenues	$436,974	$439,659	$0	$439,659	$441,140	

Expenditures						
Series 2017A						
Interest 11/1	$97,797	$97,797	$0	$97,797	$96,528	
Interest 11/1	$70,000	$70,000	$0	$70,000	$70,000	
Principal 5/1	$96,528	$96,528	$0	$96,528	$95,259	
Transfer Out	$0	$13	$0	$13	$0	
Total Expenditures	$264,325	$264,338	$0	$264,338	$261,788	
						
Excess Revenues/(Expenditures)	$172,649	$175,321	$0	$175,321	$179,353	

11/1/22 Interest	
    Series 2017A 
$	95,259	
11/1/22 Principal  $	75,000 
$	170,259

Assessments - Platted Lots on Tax Roll	

Product Type	
# Units		2017A
Per Unit	
Total	
43' Lot	51	$1,053	$53,703	
53' Lot	73	$1,299	$94,827	
63' Lot	76	$1,543	$117,268	
Total			$265,798	

Armstrong Community Development District
Series 2017A, Special Assessment Revenue Bonds (Term Bonds Combined)

Date	Balance	Princip	
11/1/21	$ 3,900,000	$	7	
5/1/22	$ 3,830,000	$	
11/1/22	$ 3,830,000	$	7	
5/1/23	$ 3,755,000	$	
11/1/23	$ 3,755,000	$	7	
5/1/24	$ 3,680,000	$	
11/1/24	$ 3,680,000	$	8	
5/1/25	$ 3,600,000	$	
11/1/25	$ 3,600,000	$	8	
5/1/26	$ 3,520,000	$	
11/1/26	$ 3,520,000	$	8	
5/1/27	$ 3,435,000	$	
11/1/27	$ 3,435,000	$	9	
5/1/28	$ 3,345,000	$	
11/1/28	$ 3,345,000	$	9	
5/1/29	$ 3,250,000	$	
11/1/29	$ 3,250,000	$	10	
5/1/30	$ 3,150,000	$	
11/1/30	$ 3,150,000	$	10	
5/1/31	$ 3,050,000	$	
11/1/31	$ 3,050,000	$	10	
5/1/32	$ 2,945,000	$	
11/1/32	$ 2,945,000	$	11	
5/1/33	$ 2,830,000	$	
11/1/33	$ 2,830,000	$	12	
5/1/34	$ 2,710,000	$	
11/1/34	$ 2,710,000	$	12	
5/1/35	$ 2,585,000	$	
11/1/35	$ 2,585,000	$	13	
5/1/36	$ 2,455,000	$	
11/1/36	$ 2,455,000	$	14	
5/1/37	$ 2,315,000	$	
11/1/37	$ 2,315,000	$	14	
5/1/38	$ 2,170,000	$	
11/1/38	$ 2,170,000	$	15	
5/1/39	$ 2,020,000	$	
11/1/39	$ 2,020,000	$	16	
5/1/40	$ 1,860,000	$	
11/1/40	$ 1,860,000	$	17	
5/1/41	$ 1,690,000	$	
11/1/41	$ 1,690,000	$	17	
5/1/42	$ 1,515,000	$	
11/1/42	$ 1,515,000	$	18	
5/1/43	$ 1,330,000	$	
11/1/43	$ 1,330,000	$	19	
5/1/44	$ 1,135,000	$	
11/1/44	$ 1,135,000	$	20	
5/1/45	$	930,000	$	
11/1/45	$	930,000	$	21	
5/1/46	$	715,000	$	
11/1/46	$	715,000	$	22	
5/1/47	$	490,000	$	
11/1/47	$	490,000	$	24	
5/1/48	$	250,000	$	
11/1/48	$	250,000	$	25	
Totals		$	3,90	

Amortization Schedule

al

Interest

Annual

0,000

$	96,528.13	$	166,528.13	
$	95,259.38	$	-	
$	95,259.38	$	265,518.75	
$	93,900.00	$	-	
$	93,900.00	$	262,800.00	
$	92,540.63	$	-	
$	92,540.63	$	265,081.25	
$	90,740.63	$	-	
$	90,740.63	$	261,481.25	
$	88,940.63	$	-	
$	88,940.63	$	262,881.25	
$	87,028.13	$	-	
$	87,028.13	$	264,056.25	
$	85,003.13	$	-	
$	85,003.13	$	265,006.25	
$	82,865.63	$	-	
$	82,865.63	$	265,731.25	
$	80,365.63	$	-	
$	80,365.63	$	260,731.25	
$	77,865.63	$	-	
$	77,865.63	$	260,731.25	
$	75,240.63	$	-	
$	75,240.63	$	265,481.25	
$	72,365.63	$	-	
$	72,365.63	$	264,731.25	
$	69,365.63	$	-	
$	69,365.63	$	263,731.25	
$	66,240.63	$	-	
$	66,240.63	$	262,481.25	
$	62,909.38	$	-	
$	62,909.38	$	265,818.75	
$	59,321.88	$	-	
$	59,321.88	$	263,643.75	
$	55,606.25	$	-	
$	55,606.25	$	261,212.50	
$	51,762.50	$	-	
$	51,762.50	$	263,525.00	
$	47,662.50	$	-	
$	47,662.50	$	265,325.00	
$	43,306.25	$	-	
$	43,306.25	$	261,612.50	
$	38,821.88	$	-	
$	38,821.88	$	262,643.75	
$	34,081.25	$	-	
$	34,081.25	$	263,162.50	
$	29,084.38	$	-	
$	29,084.38	$	263,168.75	
$	23,831.25	$	-	
$	23,831.25	$	262,662.50	
$	18,321.88	$	-	
$	18,321.88	$	261,643.75	
$	12,556.25	$	-	
$	12,556.25	$	265,112.50	
$	6,406.25	$	-	
$	6,406.25	$	262,812.50	
$ 3,379,315.63	$ 14,558,631.25	

-    5,000
-    5,000
-    0,000
-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000
-    5,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000
-    0,000
-    0,000
-    0,000
-    5,000
-    5,000
-    5,000
-    5,000
-    5,000
-    5,000
-    0,000
-    0,000

0,000

Armstrong
Community Development District

Fiscal Year 2022 Debt Service Fund Series 2019

	Proposed
Budget	Actual
thru	Projected
Next	Total
Projected at	Adopted
Budget	
	FY2021	8/31/21	1 Months	9/30/21	FY2022	

Revenues						
Assessments - Series 2019	$433,600	$406,542	$27,058	$433,600	$420,200	
Assessments - Prepayments	$0	$356,178	$0	$356,178	$0	
Interest Income	$0	$30	$3	$33	$0	
Carry Forward Surplus	$145,432	$153,996	$0	$153,996	$414,699	
Total Revenues	$579,032	$916,747	$27,060	$943,807	$834,899	

Expenditures						
Series 2019
Interest 11/1	
$144,806	
$146,177	
$0	
$146,177	
$140,147	
Special Call 11/1	$0	$140,000	$0	$140,000	$125,000	
Principal 11/1	$0	$0	$0	$0	$140,000	
Interest 5/1	$144,806	$142,066	$0	$142,066	$137,959	
Special Call 5/1	$0	$10,000	$0	$10,000	$0	
Interest 8/1	$0	$866	$0	$866	$0	
Special Call 8/1	$0	$90,000	$0	$90,000	$0	
Total Expenditures	$289,612	$529,108	$0	$529,108	$543,106	
						
Excess Revenues/(Expenditures)	$289,420	$387,639	$27,060	$414,699	$291,793	

11/1/22 Interest	

$	137,959	
11/1/22 Principal  $	140,000 
$	277,959

al

Interest

Annual

0,000

Date	Balance	Princip	
11/1/21	$ 7,260,000	$	14	
5/1/22	$ 7,120,000	$	
11/1/22	$ 7,120,000	$	14	
5/1/23	$ 6,980,000	$	
11/1/23	$ 6,980,000	$	14	
5/1/24	$ 6,835,000	$	
11/1/24	$ 6,835,000	$	15	
5/1/25	$ 6,685,000	$	
11/1/25	$ 6,685,000	$	15	
5/1/26	$ 6,530,000	$	
11/1/26	$ 6,530,000	$	16	
5/1/27	$ 6,370,000	$	
11/1/27	$ 6,370,000	$	16	
5/1/28	$ 6,205,000	$	
11/1/28	$ 6,205,000	$	17	
5/1/29	$ 6,035,000	$	
11/1/29	$ 6,035,000	$	18	
5/1/30	$ 5,855,000	$	
11/1/30	$ 5,855,000	$	18	
5/1/31	$ 5,670,000	$	
11/1/31	$ 5,670,000	$	19	
5/1/32	$ 5,480,000	$	
11/1/32	$ 5,480,000	$	20	
5/1/33	$ 5,280,000	$	
11/1/33	$ 5,280,000	$	20	
5/1/34	$ 5,075,000	$	
11/1/34	$ 5,075,000	$	21	
5/1/35	$ 4,860,000	$	
11/1/35	$ 4,860,000	$	22	
5/1/36	$ 4,635,000	$	
11/1/36	$ 4,635,000	$	23	
5/1/37	$ 4,405,000	$	
11/1/37	$ 4,405,000	$	24	
5/1/38	$ 4,165,000	$	
11/1/38	$ 4,165,000	$	25	
5/1/39	$ 3,915,000	$	
11/1/39	$ 3,915,000	$	26	
5/1/40	$ 3,655,000	$	
11/1/40	$ 3,655,000	$	27	
5/1/41	$ 3,385,000	$	
11/1/41	$ 3,385,000	$	28	
5/1/42	$ 3,105,000	$	
11/1/42	$ 3,105,000	$	29	
5/1/43	$ 2,810,000	$	
11/1/43	$ 2,810,000	$	30	

$	140,146.88	$	280,146.88	
$	137,959.38	$	-	
$	137,959.38	$	415,918.75	
$	135,771.88	$	-	
$	135,771.88	$	416,543.75	
$	133,506.25	$	-	
$	133,506.25	$	417,012.50	
$	131,162.50	$	-	
$	131,162.50	$	417,325.00	
$	128,450.00	$	-	
$	128,450.00	$	416,900.00	
$	125,650.00	$	-	
$	125,650.00	$	416,300.00	
$	122,762.50	$	-	
$	122,762.50	$	415,525.00	
$	119,787.50	$	-	
$	119,787.50	$	419,575.00	
$	116,637.50	$	-	
$	116,637.50	$	418,275.00	
$	113,400.00	$	-	
$	113,400.00	$	416,800.00	
$	109,600.00	$	-	
$	109,600.00	$	419,200.00	
$	105,600.00	$	-	
$	105,600.00	$	416,200.00	
$	101,500.00	$	-	
$	101,500.00	$	418,000.00	
$	97,200.00	$	-	
$	97,200.00	$	419,400.00	
$	92,700.00	$	-	
$	92,700.00	$	415,400.00	
$	88,100.00	$	-	
$	88,100.00	$	416,200.00	
$	83,300.00	$	-	
$	83,300.00	$	416,600.00	
$	78,300.00	$	-	
$	78,300.00	$	416,600.00	
$	73,100.00	$	-	
$	73,100.00	$	416,200.00	
$	67,700.00	$	-	
$	67,700.00	$	415,400.00	
$	62,100.00	$	-	
$	62,100.00	$	419,200.00	
$	56,200.00	$	-	
$	56,200.00	$	417,400.00	

-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000
-    5,000
-    5,000
-    0,000
-    0,000
-    0,000
-    0,000
-    0,000
-    0,000
-    5,000
-    5,000

Date	Balance	Principal	Interest	Annual	

5/1/44	
$ 2,505,000	
$	-	$	50,100.00	
$	-	
11/1/44	$ 2,505,000	$	320,000   $	50,100.00	$	420,200.00	
5/1/45	$ 2,185,000	$	-	$	43,700.00	$	-	
11/1/45	$ 2,185,000	$	330,000   $	43,700.00	$	417,400.00	
5/1/46	$ 1,855,000	$	-	$	37,100.00	$	-	
11/1/46	$ 1,855,000	$	345,000   $	37,100.00	$	419,200.00	
5/1/47	$ 1,510,000	$	-	$	30,200.00	$	-	
11/1/47	$ 1,510,000	$	355,000   $	30,200.00	$	415,400.00	
5/1/48	$ 1,155,000	$	-	$	23,100.00	$	-	
11/1/48	$ 1,155,000	$	370,000   $	23,100.00	$	416,200.00	
5/1/49	$	785,000	$	-	$	15,700.00	$	-	
11/1/49	$	785,000	$	385,000   $	15,700.00	$	416,400.00	
5/1/50	$	400,000	$	-	$	8,000.00	$	-	
11/1/50	$	400,000	$	400,000   $	8,000.00	$	416,000.00	
Totals		$	7,260,000   $	5,116,922	$ 12,376,921.88