Scenic Terrace South Community Development District
Meeting Agenda August 16, 2023

Scenic Terrace South
Community Development District

219 E. Livingston St., Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

August 9, 2023

Board of Supervisors Scenic Terrace South
Community Development District

Dear Board Members:

A regular Board of Supervisors meeting of the Scenic Terrace South Community Development District will be held on Wednesday, August 16, 2023 at 1:45 PM at 346 E. Central Ave., Winter Haven, FL 33880.

Zoom Video Link: https://us06web.zoom.us/j/82770504160
Zoom Call-In Number: 1-646-876-9923
Meeting ID: 827 7050 4160

Following is the advance agenda for the meeting:

Board of Supervisors Meeting

Roll Call
Public Comment Period (1Speakers will fill out a card and submit it to the District Manager prior to the beginning of the meeting)
Approval of Minutes of the July 19, 2023 Board of Supervisors Meeting
Public Hearing
Continued Public Hearing on the Imposition of Operations and Maintenance Special Assessments (continued from July 19, 2023 Board Meeting)
Consideration of Resolution 2023-15 Imposing Special Assessments and Certifying an Assessment Roll
Presentation and Approval of Engineer’s Report—Amended and Restated dated August 14, 2023
Presentation and Approval of Updated Supplemental Assessment Methodology for Series 2023 Bonds dated August 16, 2023
Consideration of Resolution 2023-16 Delegation Resolution (Series 2023)
Consideration of Series 2023 Developer Agreements
True-Up Agreement
Completion Agreement
Acquisition Agreement
Collateral Assignment Agreement
Declaration of Consent
Notice of Special Assessments

1 Comments will be limited to three (3) minutes
Consideration of Letter from FMS to Provide Underwriting Services for Series 2023 Bonds
Consideration of Resolution 2023-17 Ratifying Series 2022 Bonds
Consideration of Notice of Lien of Special Assessments for Series 2022 Project Bonds
Consideration of Amended and Restated Notice of Special Assessments and Government Lien of Record
Consideration of Interlocal Agreement between the Scenic Terrace North CDD and Scenic Terrace South CDD Regarding Mutual Cooperation for the Financing, Operation, and Maintenance of Certain Amenities to be Acquired and/or Constructed
Consideration of Joint Acquisition Agreement between the Scenic Terrace North CDD and Scenic Terrace South CDD Regarding the Joint Acquisition of Certain Work Product and Improvements
Consideration of Disclosure and Consent Amenity Conflict Waiver
Consideration of Uniform Collection Agreement with Polk County Tax Collector
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement
Other Business
Supervisors Requests and Audience Comments
Adjournment

MINUTES
MINUTES OF MEETING SCENIC TERRACE SOUTH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Scenic Terrace South Community Development District was held Wednesday, July 19, 2023 at 1:45 p.m. at 346 E. Central Avenue, Winter Haven, Florida.

Present and constituting a quorum:

Lauren Schwenk	Vice Chair
Patricia Hudson	Assistant Secretary
Daniel Arnette	Assistant Secretary
Chuck Cavaretta	Assistant Secretary Also present were:
Jill Burns	District Manager, GMS
Roy Van Wyk	District Counsel, KVW Law
Rey Malave by Zoom	District Engineer, Dewberry

FIRST ORDER OF BUSINESS	Roll Call
Ms. Burns called the meeting to order and called the roll. Four Board members were present constituting a quorum.

SECOND ORDER OF BUSNESS	Public Comment Period
Ms. Burns noted that there were no members of the public present at this time or via Zoom.

THIRD ORDER OF BUSINESS	Approval of Minutes of the May 17, 2023
Board of Supervisors Meetings
Ms. Burns presented the minutes from the May 17, 2023 Board of Supervisors meeting and asked for any changes or corrections from the Board.

July 19, 2023	Scenic Terrace South CDD

FOURTH ORDER OF BUSINESS	Presentation   and   Approval   of
Supplemental Assessment Methodology for Series 2023 Bonds dated July 19, 2023
Ms. Burns stated this is the supplemental report for Phase 4 which is the 99 lots that were added to the boundary amendment. This is based on the bond sizing that was sent over from FMS. In the tables attached, Table 1 shows the development program and there are 99 lots within this area. The capital improvement plan cost estimate is $5,003,427 and an estimated bond sizing of
$2,450,000. She noted Table 4 shows the improvement cost per unit and Table 5 shows a par debt per unit for each of those 99 lots of $24,747. Table 6 shows the net and gross annual debt assessment per unit. The net annual debt assessment per unit is $1,750. The gross amount that we collected on the roll would be $1,882. Table 7 shows the preliminary assessment roll and we have one landowner, STS Dev Partners, LLC. Ms. Burns asked for any questions. Mr. Van Wyk asked if in her opinion are these assessments fairly and reasonably apportioned and it’s in your opinion that the benefit is equal to or exceeds the burden placed upon the lots by the assessments? Ms. Burns answered yes to both.

FIFTH ORDER OF BUSINESS	Public Hearings
Public Hearing on the Adoption of the Fiscal Year 2024 Budget.
Ms. Burns stated this public hearing has been advertised in the paper. Do we have a motion to open?

Ms. Burns stated no members of the public are present at this time so asking for a motion to close.

July 19, 2023	Scenic Terrace South CDD

Consideration of Resolution 2023-09 Adopting the District’s Fiscal Year 2024 Budget and Appropriating Funds
Ms. Burns stated there are two budgets listed in the agenda, option A & B. She noted option A is the one used for the mailed notice. At the last meeting, a preliminary budget was approved which included a field contingency for notice purposes so that we don’t have to go back and re- notice. Option B is the budget with that larger field contingency that is based on the development timeline on what may be coming online. She noted the 744 platted lots in that first assessment area have a gross per unit assessment of $681.18 and the unplatted which is an assessed portion of the admin only, that per unit is $171.78. She noted that is the new boundary area that won’t have any field expenses for the next year. There is no infrastructure installed at this point that is being maintained or contracts in place. She stated this is just estimates based on landscaping plans, amenity plans and things that were provided. Ms. Schwenk asked about option A. Ms. Burns stated option A is used for notice which is a higher amount with a larger field contingency and the per unit assessment on the platted lots would be $948.56. Ms. Schwenk proposed to approve Option B.

Public Hearing on the Imposition of Operations and Maintenance Special Assessments
Ms. Burns stated this will be continued to the August meeting because the 99 units that were recently brought into the District, the mailed notices need to be sent and when it was brought in there was not enough time for the hearing. Ms. Burns noted we have adopted our budget so we will continue the hearing to levy the assessment and approve the tax roll to where we can send the mailed notice, which has already been sent but we need 30 days of notice between that and the hearing date. The notice was sent to the owners of the 99 lots.

July 19, 2023	Scenic Terrace South CDD

Consideration of Resolution 2023-10 Continuing the Public Hearing Regarding the Imposition of Special Assessments for Fiscal Year 2023/2024
Ms. Burns asked for a motion to continue this hearing to August 16th at 1:45 p.m. at this location.

Public Hearing on the Imposition of Special Assessments on Boundary Amendment Parcels
Ms. Burns stated this is the public hearing that was set at the last meeting and mailed notice was sent to property owners within this boundary amendment area. Do we have a motion to open?

Ms. Burns stated there are no members of the public present at this time and asked for a motion to close the public hearing.

Presentation of Engineer’s Report – Amended and Restated dated May 16, 2023
Mr. Malave stated the date of report as submitted is May 16, 2023 consisting of the property located as shown in various drawings and exhibits, again adding additional land and brings the total land up to 211.11 acres for a total number of units 843. He noted the total cost as shown in Exhibit 7B of approximately $40,593,501. He stated these are current dollars and believe these are adequate for the construction of the proposed capital improvement projects. He asked for any questions.

July 19, 2023	Scenic Terrace South CDD

Presentation of Amended and Restated Master Assessment Methodology dated May 17, 2023
Ms. Burns stated this report updates the prior Master Assessment Methodology that was issued and it allocates the debt to the property spaces on the improvements that each receives from the capital improvement plan that Ray just reviewed. Table 1 shows the updated development program with a total of 843 lots in the community. She noted it is 293 single family 40’ lots and then 550 single family 50’ lots. Table 2 shows the capital improvement plan cost estimate of
$40,593,501 and Table 3 shows an estimated bond sizing of $47,660,00. Table 4 shows the improvement cost per unit for both of those product types and Table 5 shows the par debt per unit which would be the most amount of debt that would be placed on those product types within the community. The single family 40’ would be $48,608 and single family 50’ would be $60,760. Table 6 breaks down the net and gross annual debt assessment per unit. The gross annual debt assessment per unit when collected on the Polk County tax bill will be $3,227 for the 40’ lots and then $4,034 for the 50’ lots. Again, this is the master levy on that boundary amendment parcel so that would be the most amount of debt we would issue.
Mr. Van Wyk asked with the revisions, it is still your opinion that the assessments are fairly and reasonably apportioned across all the product types within the District including the 99 lots and is it in your opinion that it is greater than or equal to the assessment prior to being placed. Ms. Burns answered yes to both.

Consideration of Resolution 2023-11 Levying Special Assessments
Ms. Burns stated this will levy assessments across that boundary amendment parcel similar to the process that we went through on the existing District. Mr. Van Wyk stated you are making findings that are consistent with all of the statements by the engineer as to the construction of the improvements and cost of those improvements and you are also making a finding that there is a benefit to the parcels as stated by Jill and the assessments are fairly and reasonably apportioned and there is a benefit to each parcel located within the District and provides for the adoption of a supplemental assessment when and if we issue bonds.
July 19, 2023	Scenic Terrace South CDD

Public Hearing on the District’s Use of the Uniform Method of Levying, Collection, & Enforcement of Non-Ad Valorem Assessments on Boundary Amendment Parcels Ms. Burns stated this public hearing has been advertised in the paper. She asked for a
motion to open the public hearing.

Ms. Burns stated no members of the public are present at this time. She asked for a motion to close the public hearing.

Construction of Resolution 2023-12 Expressing the District’s Intent to Utilize the Uniform Method of Collection
Ms. Burns stated this will allow us to use the tax bill as our collection method for the boundary amendment parcels.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-13
Designation of a Regular Monthly Meeting Date, Time, and Location for Fiscal Year 2024
Ms. Burns stated the schedule in the agenda package is the same as the current schedule for this year.
July 19, 2023	Scenic Terrace South CDD

SEVENTH ORDER OF BUSINESS	Consideration	of	Resolution	2023-14
Designating a Date, Time, and Location for a Landowners’ Meeting and Election
Ms. Burns stated this needs to be held on November 7th the first Tuesday of the month by Statute. The time proposed is 9:15 at the Holiday Inn down the street.

EIGHTH ORDER OF BUSINESS	Consideration of Proposal for Arbitrage
Rebate Services for Series 2022 Project Bonds from AMTEC
Ms. Burns stated this proposal is from AMTEC who provides that service for most of the other bond issuances that you have. This is a report required by the Trust Indenture that the District has to demonstrate that we are not earning more interest than we pay on the bonds. She noted it is
$450 annually.

NINTH ORDER OF BUSINESS	Consideration of Non-Exclusive Perpetual
Easement Agreement with Town of Lake Hamilton, Florida – ADDED
Ms. Burns stated this was added, something that the police chief was asking for. We are looking for a motion to approve in substantial form and authorize the Chair to sign should the city not have any comments.
July 19, 2023	Scenic Terrace South CDD

TENTH ORDER OF BUSINESS	Acceptance of Fiscal Year 2022 Audit
Report
Ms. Burns stated page 30 of the agenda has the report to management which summarizes this audit. She noted it was a clean audit with no findings or incidents of noncompliance. The District does not meet any of the conditions for financial emergency and submitted to the state by the June 30th deadline.

ELEVENTH ORDER OF BUSINESS	Staff Reports
Attorney
Memo Regarding Ethics Training for Elected Officials
Mr. Van Wyk stated included in the agenda are the ethics training requirements and some of the options for the Supervisors to consider.

Engineer
Acceptance of Annual District Engineering Report
Mr. Malave noted the notice of the Annual District Engineering Report and acceptance of. He noted the letter basically says the District has set aside funds and the facilities that are currently under construction will be as per originally approved and the permits.

District Manager’s Report
Approval of Check Register
Ms. Burns presented the check register that is included in the agenda package for the Board to review from April through May totaling $2,916,673.28. She asked for any questions on those, otherwise looking for a motion to approve.
July 19, 2023	Scenic Terrace South CDD

Balance Sheet & Income Statement
Ms. Burns stated financial packets were included in the package for review. No action is necessary from the Board.

TWELFTH ORDER OF BUSINESS	Other Business
There being no comments, the next item followed.

THIRTEENTH ORDER OF BUSINESS	Supervisors	Requests	and	Audience
Comments
There being no comments, the next item followed.

FOURTEENTH ORDER OF BUSINESS	Adjournment
Ms. Burns adjourned the meeting.

Secretary/Assistant Secretary	Chairman/Vice Chairman

Section IV

Section A

Section 1
RESOLUTION 2023-15

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2023/2024; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Scenic Terrace South Community Development District (“District”) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and

WHEREAS, the District is located in Polk County, Florida (“County”); and

WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District’s adopted capital improvement plan and Chapter 190, Florida Statutes; and

WHEREAS, the Board of Supervisors (“Board”) of the District hereby determines to undertake various operations and maintenance and other activities described in the District’s budget (“Adopted Budget”) for the fiscal year beginning October 1, 2023 and ending September 30, 2024 (“Fiscal Year 2023/2024”), attached hereto as Exhibit “A;” and

WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and

WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and

WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and

WHEREAS, the District published and mailed notice of public hearing regarding the imposition of operation and maintenance special assessments as required pursuant to Chapters 170, 190 & 197, Florida Statutes, copies of which are on file at the District’s records office; and

WHEREAS, the District held two public hearings regarding the District’s intent to imposes operation and maintenance special assessments on July 19, 2023, and August 16, 2023, to provide opportunity to the owners’ of the lands subject to assessment an opportunity to comment on the District’s imposition of special assessments; and

WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and
WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2023/2024; and

WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector (“Uniform Method”), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and

WHEREAS, it is in the best interests of the District to adopt the assessment roll (“Assessment Roll”) attached to this Resolution as Exhibit “B,” and to certify the portion of the Assessment Roll related to certain developed property (“Tax Roll Property”) to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property (“Direct Collect Property”), all as set forth in Exhibit “B;” and

WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BENEFIT & ALLOCATION FINDINGS. The provision of the services, facilities, and operations as described in Exhibit “A” confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibits “A” and “B,” and is hereby found to be fair and reasonable.

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapters 170, 190 and 197, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibits “A” and “B.” The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution. Moreover, pursuant to Section 197.3632(4), Florida Statutes, the lien amount shall serve as the “maximum rate” authorized by law for operation and maintenance assessments.

SECTION 3.	Collection and Enforcement; Penalties; Interest.

Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibits “A” and “B.”

Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect Property shall be collected directly by the District in accordance with Florida law, as set forth in Exhibits “A” and “B.” Assessments directly collected by the District are due in full on December 1, 2023; provided, however, that, to the extent permitted by law, the assessments due may be paid in several partial, deferred payments and according to the following schedule: 50% due no later than October 1, 2023, 25% due no later than February 1, 2024 and 25% due no later than May 1, 2024. In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment – including any remaining partial, deferred payments for
Fiscal Year 2023/2024, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District’s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein.

Future Collection Methods. The decision to collect special assessments by any particular method – e.g., on the tax roll or by direct bill – does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices.

SECTION 4. ASSESSMENT ROLL. The Assessment Roll, attached to this Resolution as Exhibit “B,” is hereby certified for collection. That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District.

SECTION 5. Assessment Roll Amendment. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.

SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.

SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board.
PASSED AND ADOPTED THIS 16TH DAY OF AUGUST 2023.

ATTEST:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary
By:	 Its:	

Exhibit A:	Budget
Exhibit B:	Assessment Roll (Uniform Method)
Assessment Roll (Direct Collect)

Scenic Terrace South
Community Development District

Proposed Budget
FY2024

Table of Contents

1

2-6

7
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

8	Amortization Schedule - Series 2022

Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues

Assessments - Tax Roll	$	-	$	98,192	$	-	$	98,192	$	471,325			
Assessnents - Direct	$	-	$	-	$	-	$	-	$	15,815			
Developer Contributions	$	417,811	$	13,000	$	64,269	$	77,269	$	-			
Boundary Amendment Contribution	$	-	$	17,722	$	-	$	17,722	$	-			
Total Revenues	$	417,811	$	128,914	$	64,269	$	193,182	$	487,141	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,400	
$	4,000	
$	8,400	
$	12,000	
Engineering	$	15,000	$	3,864	$	2,040	$	5,904	$	15,000	
Attorney	$	25,000	$	7,590	$	3,795	$	11,384	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	3,333	$	1,667	$	5,000	$	5,000	
Trustee Fees	$	4,041	$	4,041	$	-	$	4,041	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	38,955	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	143	$	346	$	489	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,575	
Copies	$	1,000	$	-	$	50	$	50	$	1,000	
Legal Advertising	$	18,500	$	7,037	$	7,252	$	14,290	$	6,500	
Boundary Amendment Expense	$	-	$	21,465	$	-	$	21,465	$	-	
Contingencies	$	5,300	$	-	$	1,000	$	1,000	$	5,300	
Office Supplies	$	625	$	12	$	8	$	20	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	142,891	$	83,560	$	37,107	$	120,667	$	134,671	

Operations & Maintenance						
Field Services						
Property Insurance	$	5,000	$	-	$	-	$	-	$	7,500	
Field Management	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Landscape Maintenance	$	55,000	$	-	$	27,500	$	27,500	$	75,000	
Landscape Replacement	$	7,500	$	-	$	3,750	$	3,750	$	12,500	
Lake Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	12,000	$	-	$	6,000	$	6,000	$	30,000	
Electric	$	5,000	$	265	$	2,500	$	2,765	$	5,000	
Water & Sewer	$	5,000	$	-	$	2,500	$	2,500	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	2,500	$	2,500	$	2,500	
Irrigation Repairs	$	5,000	$	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	15,000	$	-	$	7,500	$	7,500	$	15,000	
Contingency	$	5,000	$	-	$	2,500	$	2,500	$	15,000	
Subtotal Field Expenses	$	149,500	$	265	$	72,250	$	72,515	$	202,500	
Scenic Terrace South
Community Development District Proposed Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Amenity Expenses						
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	10,000	$	-	$	-	$	-	$	7,500	
Playground Lease	$	25,000	$	-	$	-	$	-	$	50,000	
Internet	$	3,000	$	-	$	-	$	-	$	3,000	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Service	$	5,500	$	-	$	-	$	-	$	6,550	
Security Services	$	30,000	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	16,200	$	-	$	-	$	-	$	16,200	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	5,000	$	-	$	-	$	-	$	6,000	
Contingency	$	5,000	$	-	$	-	$	-	$	5,000	
Subtotal Amenity Expenses	$	125,420	$	-	$	-	$	-	$	149,970	
						
Total Operations & Maintenance	$	274,920	$	265	$	72,250	$	72,515	$	352,470	
						
Total Expenditures	$	417,811	$	83,825	$	109,357	$	193,182	$	487,141	
						
Excess Revenues/(Expenditures)	$	-	$	45,089	$	(45,089)	$	-	$	-	
						
Product	Assessable	ERU/Unit	Total ERU's	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	744	1.00	744.00	$471,325.22	$633.50	$681.18	
Unplatted - Admin Only	99	0.12	11.63	$15,815.41	$159.75	$171.78	
Total ERU's	843	755.63	$487,140.63			
Scenic Terrace South Community Development District General Fund Budget

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

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

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.
Scenic Terrace South Community Development District General Fund Budget

Management Fees

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

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, 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.

Postage & Delivery

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

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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.

Contingencies

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

Office Supplies

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

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Scenic Terrace South Community Development District General Fund Budget

Operations & Maintenance:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

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

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

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

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.
Scenic Terrace South Community Development District General Fund Budget

Contingency

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

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents the cost of the District leasing playground equipment for the fiscal year.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

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

Amenity Access Management

Represents the cost of managing the monitoring access to the District’s amenity facilities.

Contingency

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

#REF!
Debt Service Fund Series 2022

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	#REF!
Budget					
	Description	FY2023	5/31/23	4 Months	9/30/23	#REF!					

Revenues											
Assessments		$	499,816	$	122,987	$	376,829	$	499,816	$	1,291,372					
Assesments - Prepayments	$	-	$	1,182,000	$	-	$	1,182,000	$	-						
Interest Income	$	-	$	48,286	$	24,143	$	72,429	$	-						
Carry Forward Surplus *	$	1,069,883	$	1,077,227	$	-	$	1,077,227	$	500,353						
Total Revenues	$	1,569,699	$	2,430,500	$	400,972	$	2,831,472	$	1,791,724						

Expenses											
Interest- 11/01	$	569,234	$	569,234	$	-	$	569,234	$	471,572						
Principal - 05/01	$	-	$	-	$	-	$	-	$	355,000	
Interest - 05/01	$	499,816	$	499,816	$	-	$	499,816	$	471,572	
Special Call - 08/01	$	-	$	-	$	1,265,000	$	1,265,000	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,265,000	$	2,334,050	$	1,298,144						

Other Financing Sources/(Uses)											
Transfer In/(Out)	$	-	$	2,931	$	-	$	2,931	$	-						
Total Other Financing Sources/(Uses)	$	-	$	2,931	$	-	$	2,931	$	-						
											
Excess Revenues/(Expenditures)	$	500,649	$	1,364,381	$	(864,028)	$	500,353	$	493,581						

*Carry forward less amount in Reserve funds.											
				Series 2022 Interest - 11/01	
$464,916						
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit							
Single Family - 40'	546	$1,004,297	$1,839.37	$1,977.82							
Single Family - 50'	198	$287,074	$1,449.87	$1,559.00							
Total ERU's	744	$1,291,372									

(1) The per unit and total annual debt assessments reflected in this chart represent payment of full year of principal and interest.

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272809000000023020		$0.00	$0.00	$0.00	
272810822212001010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212001040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212002090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212003270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212004010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212004020	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212004030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005280	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005290	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005300	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005310	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005320	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005330	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005340	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005350	1.00	$681.18	$1,559.14	$2,240.32	
272810822212005360	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212006100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007010	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212007020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212007180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212008170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009140	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212009150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009180	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009190	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009200	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009210	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009220	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009230	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009240	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009250	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009260	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009270	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009280	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009290	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009300	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009310	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009320	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009330	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009340	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009350	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009360	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009370	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009380	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009390	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009400	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009410	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009420	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009430	1.00	$681.18	$1,559.14	$2,240.32	
272810822212009440	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010130	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010140	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010150	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010160	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010170	1.00	$681.18	$1,559.14	$2,240.32	
272810822212010180	1.00	$681.18	$1,559.14	$2,240.32	

PARCEL ID	UNITS	FY 24 O&M	SERIES 2022 DEBT	TOTAL					
272810822212011010	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011020	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011030	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011040	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011050	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011060	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011070	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011080	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011090	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011100	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011110	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011120	1.00	$681.18	$1,559.14	$2,240.32	
272810822212011130		$0.00	$0.00	$0.00	
272810822212011140		$0.00	$0.00	$0.00	
272810822212011150		$0.00	$0.00	$0.00	
272810822212011160		$0.00	$0.00	$0.00	
272810822212011170		$0.00	$0.00	$0.00	
272810822212011180		$0.00	$0.00	$0.00	
272810822212011190		$0.00	$0.00	$0.00	
272810822212011200		$0.00	$0.00	$0.00	
272810822212011210		$0.00	$0.00	$0.00	
Total Gross Onroll Assessments	198	$134,873.64	$308,709.72	$443,583.36	
					
Total Net Onroll Assessments		$125,432.49	$287,100.04	$412,532.52	

Direct Billing					
Parcel ID	Acreage	FY24 O&M	Series 2022 Debt	Total	
272809000000011020	9.93	$26,317.90	$60,238.53	$86,556.43	
272809000000012010	19.23	$50,988.52	$116,706.66	$167,695.18	
272809000000012020	19.49	$51,658.14	$118,239.33	$169,897.47	
272809000000014020	9.24	$24,494.07	$56,064.02	$80,558.10	
272809000000014030	28.50	$75,545.42	$172,914.48	$248,459.90	
272809000000023010	25.56	$67,754.95	$155,083.02	$222,837.97	
272809000000041020	18.77	$49,767.51	$113,911.92	$163,679.44	
272809000000041040	1.50	$3,981.13	$9,112.32	$13,093.45	
272809000000041050	8.08	$21,416.64	$49,020.15	$70,436.79	
272809000000013020	10.14	$8,498.92	$0.00	$8,498.92	
272809000000011030	10.15	$8,507.30	$0.00	$8,507.30	
Total Gross Offroll Assessments	160.59	$388,930.50	$851,290.44	$1,240,220.94	
					
Total Net Offroll Assessments		$361,705.37	$791,700.11	$1,153,405.47	
					
Total Gross Assessments		$523,804.14	$1,160,000.16	$1,683,804.30	
					
Total Net Assessments		$487,137.85	$1,078,800.15	$1,565,938.00	

Section V

REFERENCE NO. 50152071

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT
Engineer's Report – Amended and Restated
AUGUST 14, 2023		

	
ORIGINAL	

SUBMITTED BY
Dewberry Engineers Inc. 800 North Magnolia Avenue Orlando, Florida 32803
407.843.5120	
SUBMITTED TO
Scenic Terrace South Community Development District
219 East Livingston Street Orlando, Florida 32801
407.841.5524	
Scenic Terrace South Community Development District

Engineer's Report
Amended and Restated
Table of Contents
Introduction	3
Purpose and Scope	4
The Development	4
Capital improvements	4
Capital improvement Plan Components	5
Stormwater Management Facilities	5
Public Roadways	5
Water and Wastewater Facilities	5
Off-Site Improvements	6
Amenities and Parks	6
Electric Utilities and Lighting	6
Entry Feature	6
Miscellaneous	6
Permitting	6
Recommendation	7
Report Modification	7
Summary and Conclusion	7
Engineer’s Certification	7
Table of Tables
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Scenic Terrace South Community Development District

List of Exhibits
Legal Description of Amended District	Exhibit 4

Existing Land Use Map Composite	Exhibit 5

Future Land Use Map Composite	Exhibit 5

Utility Location Map and Drainage Flow Pattern Map	Exhibit 6

Summary of District Facilities	Exhibit 7A

Summary of Opinion of Probable Cost	Exhibit 7B

Overall Site Plan	Exhibit 8
Scenic Terrace South Community Development District

Introduction
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (“Town”). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres from the District, adding approximately 30.182 acres to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. With the approved Ordinance, the total area of the District to 211.11 is acres with an expected 843 residential lots of various sizes.

ST DEV PARTNERS, LLC a Florida limited liability company, is the Developer and owner of certain lands within the District, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880, and its successors and assigns (“Developer” or “Landowner”). The District is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 2.1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, Polk County (“County”), Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction of the District. An overall estimate of the probable cost of the public improvements is provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory agency requirements while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

Table 2.1 Land Use Summary

LAND USE SUMMARY		
LAND USE	AREA (AC)	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

Table 2.2 Lot Types

LOT TYPES			
LOT WIDTH	NUMBER OF LOTS	AREA (AC)	
40-ft	293	25..21 ac	
50-ft	550	61.58 ac	
TOTAL	843	86.79	
Scenic Terrace South Community Development District

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

Purpose and Scope
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report identifies the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

The Development
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

Capital improvements
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

Stormwater structures and conveyance culverts will be constructed within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. The incremental cost of undergrounding power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, conservation areas will can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.
Scenic Terrace South Community Development District

Capital improvement Plan Components
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, County, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrate that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be located in areas where existing depressions will be impacted throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements, the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the Florida Department of Environmental Protection (FDEP) as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reports as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement and to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As stated above, the District will fund roadway construction for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.
Scenic Terrace South Community Development District

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two to three years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the County.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails. The amenities and parks will be open to the public.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the incremental cost of undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the development.

Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the development will be provided by the District. The development will not be gated. The irrigation system will use an irrigation well. The well and irrigation water mains for the development’s various phases will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, perennial flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters, which will be funded, owned, and maintained by the CDD.

Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single- family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District.

Table 5.1 Permit Status

PERMIT STATUS		
PERMITS/APPROVALS	APPROVAL/EXPECTED APPROVAL DATE	
Zoning Approval	Residential Planned Unit Development (RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No. 45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-001	
Scenic Terrace South Community Development District

Recommendation
As previously described, the public infrastructure is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function as long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs of this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

Report Modification
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

Summary and Conclusion
The improvements as outlined are necessary for the functional development of the CDD. The CDD is being designed in accordance with current government regulatory requirements. The development will serve its intended function provided the construction is in substantial compliance with the design.
Construction of the development is based upon current development plans.

Engineer’s Certification
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements. Assets will be purchased by the District at the lesser of fair market value or actual cost. All improvements financed by the District will be on land owned by, or subject to a permanent easement in favor of, the District or another governmental entity.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.
Scenic Terrace South Community Development District

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588
Scenic Terrace South Community Development District

Exhibit 7A

SUMMARY OF PROPOSED DISTRICT FACILITIES					
DISTRICT INFRASTRUCTURE	CONSTRUCTION	OWNERSHIP	CAPITAL FINANCING	OPERATION AND MAINTENANCE	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	
*Costs not funded by bonds will be funded by the developer.
Scenic Terrace South Community Development District

Exhibit 7B

EXHIBIT 7B COST ESTIMATE						

FACILITY TYPE	PHASE 1
(434 LOTS)
2021-2023
EXISTING	PHASE 2
(198 LOTS)
2021-2023
EXISTING	PHASE 3
(112 LOTS)
2023-2024
EXISTING	PHASE 4
(99 LOTS)
2023-2024
EXPANSION	
TOTAL (843 LOTS)	
Earthwork	$1,454,030	$891,179	$353,041.92	$312,063.84	$3,010,315	
Roadway	$2,797,550	$1,714,627	$679,252.00	$600,410.25	$5,791,839	
Stormwater System	$2,147,198	$1,316,025	$521,345.44	$460,832.13	$4,445,401	
Wastewater System	$2,213,168	$1,356,458	$537,362.56	$474,990.12	$4,581,979	
Potable Water Distribution System	$1,253,457	$768,248	$304,343.20	$269,017.65	$2,595,066	
Reclaimed Water Distribution System	$801,396	$491,178	$194,580.96	$171,995.67	$1,659,151	
Electrical Undergrounding	$1,095,850	$671,650	$266,075.04	$235,191.33	$2,268,766	
Landscape & Hardscape	$1,342,223	$822,653	$325,895.36	$288,068.22	$2,778,840	
Amenities (Cabana, Tot Lots, and Recreation Areas)	$930,000	$570,000	$225,806.56	$199,596.87	$1,925,403	
Offsite Improvements	$1,122,897	$1,122,897	$1,122,897.25	$1,122,897.25	$4,491,589	
Subtotal	$15,157,769	$9,724,915	$4,530,600	$4,135,063	$33,548,348	
Professional Fees (10%)					$3,354,835	
Subtotal					$36,903,183	
Contingency (10%)					$3,690,318	
Total					$40,593,501	
Notes:

Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South Community Development District

Exhibit 7A

SUMMARY OF PROPOSED DISTRICT FACILITIES					
DISTRICT INFRASTRUCTURE	CONSTRUCTION	OWNERSHIP	CAPITAL FINANCING	OPERATION AND MAINTENANCE	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	
*Costs not funded by bonds will be funded by the developer.
Scenic Terrace South Community Development District

Exhibit 7B

EXHIBIT 7B COST ESTIMATE						

FACILITY TYPE	PHASE 1
(434 LOTS)
2021-2023
EXISTING	PHASE 2
(198 LOTS)
2021-2023
EXISTING	PHASE 3
(112 LOTS)
2023-2024
EXISTING	PHASE 4
(99 LOTS)
2023-2024
EXPANSION	
TOTAL (843 LOTS)	
Earthwork	$1,454,030	$891,179	$353,041.92	$312,063.84	$3,010,315	
Roadway	$2,797,550	$1,714,627	$679,252.00	$600,410.25	$5,791,839	
Stormwater System	$2,147,198	$1,316,025	$521,345.44	$460,832.13	$4,445,401	
Wastewater System	$2,213,168	$1,356,458	$537,362.56	$474,990.12	$4,581,979	
Potable Water Distribution System	$1,253,457	$768,248	$304,343.20	$269,017.65	$2,595,066	
Reclaimed Water Distribution System	$801,396	$491,178	$194,580.96	$171,995.67	$1,659,151	
Electrical Undergrounding	$1,095,850	$671,650	$266,075.04	$235,191.33	$2,268,766	
Landscape & Hardscape	$1,342,223	$822,653	$325,895.36	$288,068.22	$2,778,840	
Amenities (Cabana, Tot Lots, and Recreation Areas)	$930,000	$570,000	$225,806.56	$199,596.87	$1,925,403	
Offsite Improvements	$1,122,897	$1,122,897	$1,122,897.25	$1,122,897.25	$4,491,589	
Subtotal	$15,157,769	$9,724,915	$4,530,600	$4,135,063	$33,548,348	
Professional Fees (10%)					$3,354,835	
Subtotal					$36,903,183	
Contingency (10%)					$3,690,318	
Total					$40,593,501	
Notes:

Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases

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Section VI

SUPPLMENTAL ASSESSMENT METHODOLOGY
FOR SERIES 2023 BONDS

FOR

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Date: August 16, 2023

Prepared by

Governmental Management Services – Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents

1.0 Introduction	3
Purpose	3
Background	3
Special Benefits and General Benefits	4
Requirements of a Valid Assessment Methodology	4
Special Benefits Exceed the Costs Allocated	5
Assessment Methodology	5
Overview	5
Allocation of Debt	6
Allocation of Benefit	6
Lienability Test: Special and Peculiar Benefit to the Property	6
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
True-Up Mechanism	8
Assessment Roll	8
Appendix	9
Table 1: Development Program	9
Table 2: Capital Improvement Cost Estimates	10
Table 3: Bond Sizing	11
Table 4: Allocation of Improvement Costs	12
Table 5: Allocation of Total Par Debt to Each Product Type	13
Table 6: Par Debt and Annual Assessments	14
Table 7: Preliminary Assessment Roll	15
GMS-CF, LLC does not represent the Scenic Terrace South Community Development District as a Municipal Advisor or Securities Broker nor is GMS-CF, LLC registered to
provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, GMS-CF, LLC
does not provide the Scenic Terrace South Community Development District with financial advisory services or offer investment advice in any form.
1.0	Introduction

The Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes as amended. The District anticipates the issuance at this time of not to exceed $2,450,000 of tax-exempt bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements (“2023 Capital Improvement Plan”) within Phase 4 within the District more specifically described in the Engineer’s Report, dated October 13, 2021, which was amended and Restated on August 14, 2023, prepared by Dewberry Engineers Inc. as may be amended and supplemented from time to time (the “Engineer’s Report”). The District anticipates the construction of all or a portion of the Capital Improvements or Capital Improvement Plan (“Phase 4 Capital Improvements”) that benefit property owners within Phase 4 within the District.

Purpose

The Board of Supervisors (“Board”) of the District previously approved the Master Assessment Methodology, dated October 13, 2021, which was amended and restated on May 17, 2023 (the “Master Report”). The Master Report established an assessment methodology the District followed to allocate debt assessments to properties within the District benefiting benefitting from the District’s CIP. Such assessments secure repayment of the Bonds. The District also previously adopted as a supplement to the Master Report, at the time of the issuance of the District’s $22,350,000 Special Assessment Bonds, Series 2022 (“Series 2022 Bonds”), Supplemental Assessment Methodology report dated March 16, 2022 (“Series 2022 Supplemental Report”). The Series 2022 Bonds remain unchanged by this report. The Series 2022 Supplemental Report applied the methodology to the details of the Series 2022 Bonds to allocate debt assessments (“Series 2022 Assessments”) to properties within the District to secure the repayment of the Series 2022 Bonds.

The District intends to levy, impose and collect non ad valorem special assessments (“Special Assessments”) on the benefited lands within Phase 4 within the District securing repayment of the Bonds based on this Assessment Report. It is anticipated that all of the proposed Special Assessments will be collected through the Uniform Method of Collection described in Section 197.3632, Florida Statutes or any other legal means available to the District. It is not the intent of this Assessment Report to address any other assessments, if applicable, that may be levied by the District including those for maintenance and operation of the Bonds, a homeowner’s association, or any other unit of government.

Background

The District currently includes approximately 211.11 gross developable acres within the Town of Lake Hamilton, Florida, and Polk County. The development program for the District currently envisions approximately 843 residential units. The proposed development program is depicted in Table 1. It is recognized that such development plan may change, and this Assessment Report will be modified or supplemented accordingly.
The Phase 4 Capital Improvements contemplated by the District in the 2023 Capital Improvement Plan will provide facilities that benefit certain property within Phase 4 within the District. Specifically, the District will construct and/or acquire certain earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. The acquisition and construction costs are summarized in Table 2.

The assessment methodology is a four-step process.

The District Engineer must first determine the public infrastructure improvements that may be provided by the District and the costs to implement the Phase 4 Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District’s Phase 4 Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/or construct the Phase 4 Capital Improvements.
This amount is initially divided equally among the benefited properties on a prorated assessable acreage basis. Ultimately, as land is platted, this amount will be assigned to each of the benefited properties based on the number and type of platted units.

Special Benefits and General Benefits

Phase 4 Capital Improvements undertaken by the District create special and peculiar benefits to the property, different in kind and degree, for properties within its borders as well as general benefits to the public at large. However, as discussed within this Assessment Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within Phase 4 within the District. The implementation of the 2023 Capital Improvement Plan enables properties within the boundaries of the District to be developed. Without the District’s 2023 Capital Improvement Plan, there would be no infrastructure to support development of land within Phase 4 within the District. Without these improvements, development of the property within District would be prohibited by law.

The general public and property owners outside of Phase 4 within the District may benefit from the provision of the Phase 4 Capital Improvements. However, any such benefit will be incidental for the purpose of the 2023 Capital Improvement Plan, which is designed solely to meet the needs of property within Phase 4 within the District. Properties outside of the District’s Phase 4 boundaries do not depend upon the District’s Phase 4 Capital Improvements. The property owners within Phase 4 within the District are therefore receiving special benefits not received by the general public and those outside of the District’s boundaries.
Requirements of a Valid Assessment Methodology

There are two requirements under Florida law for a valid special assessment:

The properties must receive a special benefit from the Capital Improvements being paid for.
The assessments must be fairly and reasonably allocated or apportioned to the properties being assessed based on the special benefit such properties receive.

Florida law provides for a wide application of special assessments that meet these two characteristics of special assessments.

Special Benefits Will Equal or Exceed the Costs Allocated

The special benefits provided to the property within Phase 4 within the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District’s 2023 Capital Improvement Plan that is necessary to support full development of property within Phase 4 within the District will cost approximately $5,003,427. The District’s Underwriter projects that financing costs required to fund the 2023 Capital Improvement Plan costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be approximately
$2,450,000. Without the 2023 Capital Improvement Plan, the property within Phase 4 within the District would not be able to be developed and occupied by future residents of the community.

2.0	Assessment Methodology

Overview

The District anticipates issuing approximately $2,450,000 in Bonds in one or more series to fund the District’s 2023 Capital Improvement Plan, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Assessment Report to allocate the $2,450,000 in debt to the properties within Phase 4 within the District benefiting from the 2023 Capital Improvement Plan. This report will be supplemented to reflect actual bond terms.

Table 1 identifies the land uses and lot sizes in the development as identified by the Developer within Phase 4 within the District. The District has commissioned an Engineer’s Report that includes estimated construction costs for the Phase 4 Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Phase 4 Capital Improvements needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $5,003,427. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for the Phase 4 Capital Improvements and related costs was determined by the
District’s Underwriter to total approximately $2,450,000. Table 3 shows the breakdown of the Bond sizing.

Allocation of Debt

Allocation of debt is a continuous process until the development plan for the District are completed. Until the platting process occurs, the Phase 4 Capital Improvements funded by District Bonds benefits all acres within Phase 4 within the District.

The initial assessments will be levied on an equal basis to all gross acreage within Phase 4 within the District. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the special benefits. At this point all of the lands within Phase 4 within the District are benefiting from the Phase 4 Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of the District into individual lots or units (“Assigned Properties”) has begun, the Special Assessments will be levied to the Assigned Properties based on the benefits they receive, on a first platted, first assigned basis. The “Unassigned Properties” defined as property that has not been platted or subjected to a declaration of condominium, will continue to be assessed on a per acre basis. Eventually the development plan will be completed and the debt relating to the Bonds will be allocated to the assigned properties within Phase 4 within the District, which are the beneficiaries of the 2023 Capital Improvement Plan, as depicted in Table 5 and Table 6. If there are changes to development plan, a true up of the assessment will be calculated to determine if a debt reduction or true-up payment from the Developer is required. The process is outlined in Section 3.0.

The assignment of debt in this Assessment Report sets forth the process by which debt is apportioned. As mentioned herein, this Assessment Report will be supplemented from time to time.

Allocation of Benefit

The 2023 Capital Improvement Plan consists of earthwork, roadway, stormwater, wastewater, potable & reclaimed systems, electrical undergrounding, landscape & hardscape, amenities, offsite improvements, professional fees and contingency. There are two product types within the planned development. The single-family 40’ home has been set as the base unit and has been assigned one equivalent residential unit (“ERU”). Table 4 shows the allocation of benefit to the particular product type. It is important to note that the benefit derived from the Phase 4 Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

Lienability Test: Special and Peculiar Benefit to the Property

Construction and/or acquisition by the District of its proposed Phase 4 Capital Improvements will provide several types of systems, facilities, and services for its
residents. These include offsite improvements, stormwater management facilities, mass grading and master systems, utility facilities, roadways, entry features, and park and amenity features. The benefit from the Phase 4 Capital Improvements accrue in differing amounts and are somewhat dependent on the product type receiving the special benefits peculiar to that property type, which flow from the logical relationship of the Phase 4 Capital Improvements to the assigned properties.

Once these determinations are made, they are reviewed in the light of the special benefits peculiar to the property, which flow to the properties as a result of their logical connection from the Phase 4 Capital Improvements actually provided.

For the provision of the 2023 Capital Improvement Plan, the special and peculiar benefits are:

the added use of the property,
added enjoyment of the property, and
the increased marketability and value of the property.

These special and peculiar benefits are real and ascertainable but are not yet capable of being calculated as to value with mathematical certainty. However, each is more valuable than either the cost of, or the actual Special Assessment levied for the Improvement as allocated.

Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments

A reasonable estimate of the proportion of special and peculiar benefits received from the public improvements described in the 2023 Capital Improvement Plan is delineated in Table 5 (expressed as Allocation of Par Debt per Product Type). This is also shown on Table 7 depicting Allocation of Par Debt per Product Type.

The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the special and peculiar benefits to the property derived from the acquisition and/or construction of the 2023 Capital Improvement Plan have been apportioned to the property within Phase 4 within the District according to reasonable estimates of the special and peculiar benefits provided consistent with the product type of assignable properties.

Accordingly, no acre or parcel of property within the boundaries of the District will have a lien for the payment of any Special Assessment more than the determined special benefit particular to that property and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Assessment Report.

In accordance with the benefit allocation suggested for the product types in Table 4, a total debt per unit and an annual assessment per unit have been calculated for each product type (Table 6). These amounts represent the preliminary anticipated per unit debt
allocation assuming all anticipated assigned properties are built and sold as planned, and the entire proposed 2023 Capital Improvement Plan is constructed.

True Up Mechanism

Although the District does not process plats, declaration of condominiums, site plans or revisions thereto, it does have an important role to play during the course of platting and site planning. Whenever a plat, declaration of condominium or site plan is approved, the District must allocate a portion of its debt to the property according to this Assessment Report outlined herein (“Assigned Property”). In addition, the District must also prevent any buildup of debt on property or land that could be fully conveyed and/or platted without all of the debt being allocated (“Unassigned Property”). To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred within Phase 4 within the District, the District will determine the amount of anticipated Bond Special Assessment revenue that remains on the Unassigned Properties, taking into account the full development plan of the District. If the total anticipated Bond Special Assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service then no debt reduction or true- up payment is required. In the case that the revenue generated is less then the required amount then a debt reduction or true-up payment by the landowner in the amount necessary to reduce the par amount of the outstanding Bonds plus accrued interest to a level that will be supported by the new net annual debt service assessments will be required.

If a true-up payment is made less than 45 days prior to an interest payment date, the amount of accrued interest will be calculated to the next succeeding interest payment date.

Assessment Roll

The District will initially distribute the Special Assessments across the property within Phase 4 within the District boundaries on a gross acreage basis. As Assigned Properties become known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis as shown in Table 6. If the land use plan or product type changes, then the District will update Table 6 to reflect the changes as part of the foregoing true-up process. As a result, the assessment liens are not finalized with certainty on any acre of land in the District prior to the time final Assigned Properties become known. The preliminary assessment roll is attached as Table 7.

Land Use*	Units	ERUs per Unit (1)	Total ERUs	

Single Family	
99	
1	
99	
Total Units	99		99	

(1) Benefit is allocated on an ERU basis; based on density of planned development, Single Family lot at 1 ERU

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)	Total Cost Estimate	
Earthwork	$	312,064	
Roadway	$	600,410	
Stormwater System	$	460,832	
Wastewater System	$	474,990	
Potable Water System	$	269,018	
Reclaimed Water Distribution System	$	171,996	
Electrical Undergrounding	$	235,191	
Landscape & Hardscape	$	288,068	
Amenities (Cababna, Tot Lots, and Recreation Areas)	$	199,597	
Offsite Improvements	$	1,122,897	
Professional Fees	$	413,506	
Contingency	$	454,857	
Total	$	5,003,427	

(1) A detailed description of these improvements is provided in the
Engineer's Report dated October 13, 2021, Amended and Restated August 14, 2023.

Prepared by: Governmental Management Services - Central Florida, LLC

TABLE 3
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT BOND SIZING
SUPPLEMENTAL ASSESSMENT METHODOLOGY	
DISTRICT			

Bond Sizing				
Description		Total		
Construction Funds	$		1,992,531	
Debt Service Reserve	$		173,250	
Capitalized Interest	$		35,219	
Underwriters Discount	$		49,000	
Cost of Issuance	$		200,000	
Par Amount*	$		2,450,000	

Bond Assumptions:				
Average Coupon Amortization Capitalized Interest Debt Service Reserve
Underwriters Discount			5.75%
30 years
12 Months Max Annual
2%	

* Par amount is subject to change based on the actual terms at the sale of the bonds Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *	ERU Factor Total ERUs
% of Total ERUs
Total Improvements Costs Per Product Type
Improvement Costs Per Unit

Single Family		99		1		99		100.00%	 $	5,003,427 	$	50,540	
		99				99		100.00%	 $	5,003,427 		

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Land Use	No. of Units *

Total Improvements Costs Per Product Type

Allocation of Par Debt Per Product
Type	Par Per Unit

Single Family		99	$	5,003,427	$	2,450,000	$	24,747 
	99	$	5,003,427	$	2,450,000	

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

	Net Annual	Gross Annual					
		Allocation of Par		Maximum	Debt	Debt	
		Debt Per Product	Total Par Debt	Annual Debt	Assessment	Assessment	
Land Use	No. of Units *	Type	Per Unit	Service	Per Unit	Per Unit (1)	

Single Family	
	99	$	2,450,000  $	
24,747  $	173,250  $	
1,750	
$	1,882			
		99	$	2,450,000 	 $	173,250 					

(1) This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill

* Unit mix is subject to change based on marketing and other factors

Prepared by: Governmental Management Services - Central Florida, LLC

Owner	

Property ID #'s*	

Acres	Total Par Debt Allocation Per
Acre	
Total Par Debt Allocated	Net Annual Debt Assessment
Allocation	Gross Annual Debt Assessment
Allocation (1)	
ST DEV PARTNERS LLC	272809000000013020	10.14	$	120,868	$	1,225,000	$	86,625	$	93,145	
ST DEV PARTNERS LLC	272809000000011030	10.14	$	120,868	$	1,225,000	$	86,625	$	93,145	
Totals		20.27		$	2,450,000	$	173,250	$	186,290	

Annual Assessment Periods	30	
Projected Bond Rate (%)	5.75%	
Maximum Annual Debt Service	$173,250	
This amount includes estimated collection fees and early payment discounts when collected on the Polk County Tax Bill Prepared by: Governmental Management Services - Central Florida, LLC

Section VII
RESOLUTION 2023-16

A RESOLUTION OF THE BOARD OF SUPERVISORS OF SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE ISSUANCE OF ITS SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023 (THE "SERIES 2023 BONDS"); DETERMINING CERTAIN DETAILS OF THE SERIES 2023 BONDS AND ESTABLISHING CERTAIN PARAMETERS FOR THE SALE THEREOF; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A SECOND SUPPLEMENTAL TRUST INDENTURE; AUTHORIZING THE NEGOTIATED SALE OF THE SERIES 2023 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE CONTRACT WITH RESPECT TO THE SERIES 2023 BONDS AND AWARDING THE SERIES 2023 BONDS TO THE UNDERWRITER NAMED THEREIN; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF A PRELIMINARY LIMITED OFFERING MEMORANDUM RELATING TO THE SERIES 2023 BONDS AND ITS USE BY THE UNDERWRITER IN CONNECTION WITH THE OFFERING FOR SALE OF THE SERIES 2023 BONDS; APPROVING THE EXECUTION AND DELIVERY OF A FINAL LIMITED OFFERING MEMORANDUM RELATING TO THE SERIES 2023 BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A CONTINUING DISCLOSURE AGREEMENT; PROVIDING FOR THE APPLICATION OF SERIES 2023 BOND PROCEEDS; AUTHORIZING THE PROPER OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE SERIES 2023 BONDS; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE AND FOR OTHER PURPOSES.

WHEREAS, Scenic Terrace South Community Development District (the "District") is a local unit of special purpose government duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act") and created by Ordinance No. O-21-19 enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town") on October 5, 2021, as amended by Ordinance No. O-23-05 enacted by the Town on May 2, 2023, contracting approximately 15.699 acres of land and adding approximately 30.182 acres to the District's boundaries (the "Expansion Parcel"), for a total of approximately 211.113 acres; and

WHEREAS, the District was created for the purpose of delivering certain community development services and facilities within and outside its jurisdiction, and the District has decided to undertake the planning, financing, construction and/or acquisition of public infrastructure improvements including, but not limited to, entry features and signage, stormwater
management facilities, water and sewer facilities, street lighting, parks and recreational facilities, and roadways, and associated professional fees and incidental costs related thereto pursuant to the Act (the "Project"); and
WHEREAS, pursuant to the Act and Resolution No. 2022-26 duly adopted by the Board of Supervisors of the District (the "Board of Supervisors") on October 28, 2021 (the "Bond Resolution"), the Board of Supervisors has approved the form of a Master Trust Indenture (the "Master Indenture"), between the District and U.S. Bank Trust Company, National Association, as Trustee (the "Trustee"); and

WHEREAS, pursuant to the Master Indenture, as supplemented by a First Supplemental Trust Indenture dated as of April 1, 2022 (the "First Supplemental Indenture") between the District and the Trustee, the District issued $22,350,000 aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2022, the proceeds of which were used to provide funds for the payment of costs of the Series 2022 Project (as defined in the First Supplemental Indenture); and

WHEREAS, this Resolution shall constitute a "Subsequent Resolution" as provided for in Section 10 of the Bond Resolution; and

WHEREAS, subsequent to the addition of the Expansion Parcel and to reflect the expanded overall Project scope and additional phases of development the District's engineer, Dewberry Engineers Inc. (the "Engineer"), prepared the Scenic Terrace South Community Development District Engineer's Report – Amended and Restated, dated August 14, 2023 (the "A/R Engineer's Report"); and

WHEREAS, the District duly adopted Resolution No. 2023-05 on May 17, 2023, declaring the levy and collection of special assessments on the Expansion Parcel (the "Special Assessments") pursuant to the Act and Chapter 170, Florida Statues, indicating the location, nature and estimated cost of the improvements which cost is to be defrayed by the Special Assessments, providing the manner in which the Special Assessments will be made, designating the lands upon which the Special Assessments will be levied, authorizing the preparation of a preliminary assessment roll and fixing the time and place of a public hearing; and

WHEREAS, the District duly adopted Resolution No. 2023-06 on May 17, 2023, setting a public hearing held on July 19, 2023, for the purpose of hearing public comment on imposing the Special Assessments on the Expansion Parcel; and

WHEREAS, on July 19, 2023, the District approved an Amended & Restated Master Assessment Methodology for Scenic Terrace South Community Development District dated May 17, 2023 (the "A/R Master Assessment Methodology"), prepared by the District's methodology consultant, Government Management Services – Central Florida, LLC (the "Methodology Consultant"); and

WHEREAS, the District duly adopted Resolution No. 2023-11 on July 19, 2023, authorizing the undertaking of another portion of the Project referred to as "Phase 4" of the residential development and to provide public infrastructure for 99 homesites (the "Series 2023
Project"), and as described more particularly in the A/R Engineer's Report, as summarized in Schedule I, attached hereto; and

WHEREAS, the District has determined to issue its Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (the "Series 2023 Bonds") for the primary purpose of providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project; and

WHEREAS, in connection with the Series 2023 Bonds, the Methodology Consultant has prepared the Supplemental Assessment Methodology for Series 2023 Bonds for Scenic Terrance South Community Development District dated August 16, 2023 (the "Supplemental Assessment Methodology" and together with the A/R Master Assessment Methodology, the "Assessment Methodology Report"); and

WHEREAS, the District obtained a final judgment in the Tenth Judicial Circuit Court in and for Polk County, Florida on January 10, 2022 with an appeals period following, validating bonds to be issued under the Indenture (as defined herein); and

WHEREAS, the Series 2023 Bonds will be secured by the Special Assessments levied and imposed on assessable land within the District in accordance with the Assessment Methodology Report; and
WHEREAS, there has been submitted to this meeting with respect to the issuance and sale of the Series 2023 Bonds and submitted to the Board:
a form of Second Supplemental Trust Indenture between the Trustee and the District attached hereto as Exhibit A (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture");

a form of Bond Purchase Contract with respect to the Series 2023 Bonds between FMSbonds, Inc. (the "Underwriter") and the District attached hereto as Exhibit B (the "Bond Purchase Contract"), together with the form of a disclosure statement attached to the Bond Purchase Contract in accordance with Section 218.385, Florida Statutes; and

a form of Preliminary Limited Offering Memorandum relating to the Series 2023 Bonds, attached hereto as Exhibit C (the "Preliminary Limited Offering Memorandum");
a form of Rule 15c2-12 Certificate of the District relating to the Preliminary Limited Offering Memorandum, attached hereto as Exhibit D (the "Rule 15c2-12 Certificate"); and

a form of the Continuing Disclosure Agreement (the "Continuing Disclosure Agreement") to be entered into among the District, the dissemination agent named therein (the "Dissemination Agent"), and any landowner constituting
an "Obligated Person" under the terms of the Continuing Disclosure Agreement, attached hereto as Exhibit E;

WHEREAS, any capitalized term used herein and not otherwise expressly defined herein shall have the meaning ascribed thereto in the Indenture; and

NOW, THEREFORE, BE IT RESOLVED by the Board of Supervisors of Scenic Terrace South Community Development District, as follows:

Section 1. Authorization of Issuance of Series 2023 Bonds. There are hereby authorized and directed to be issued: the Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (the "Series 2023 Bonds") in an aggregate principal amount not to exceed $3,500,000, for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, (ii) making a deposit to the Series 2023 Reserve Account in an amount equal to the Series 2023 Reserve Requirement, (iii) funding a portion of the interest coming due on the Series 2023 Bonds, and (iv) paying certain costs of issuance in respect of the Series 2023 Bonds. The Series 2023 Bonds shall be issued under and secured by the Indenture, the form of which by reference is hereby incorporated into this resolution as if set forth in full herein.

Section 2.  Details of the Series 2023 Bonds. The District hereby determines that the Series 2023 Bonds shall mature in the amounts and at the times, shall bear interest at the rates, be redeemable at the redemption prices and in the manner as determined by the Chairperson of the Board of Supervisors of the District (the "Chairperson") or any member of the Board of Supervisors designated by the Chairperson (a "Designated Member"), prior to the sale of said Series 2023 Bonds, all in a manner consistent with the requirements of the Bond Resolution and within the parameters set forth in Section 5 hereof.

Section 3. Second Supplemental Indenture. The District hereby approves and authorizes the execution of the Second Supplemental Indenture by the Chairperson or any Designated Member and the Secretary or any Assistant Secretary of the Board of Supervisors (the "Secretary") and the delivery of the Second Supplemental Indenture in substantially the form thereof attached hereto as Exhibit A, with such changes therein as shall be approved by the Chairperson or Designated Member executing the same, with such execution to constitute conclusive evidence of such officer's approval and the District's approval of any changes therein from the form of Second Supplemental Indenture attached hereto.

Section 4.   Negotiated Sale. The Series 2023 Bonds shall be sold by a negotiated sale to the Underwriter. It is hereby determined by the District that a negotiated sale of the Series 2023 Bonds to the Underwriter will best effectuate the purposes of the Act, is in the best interests of the District and is necessitated by, in general, the characteristics of the issues and prevailing market conditions and specifically, the following additional reasons:

because of the complexity of the financing structure of the Series 2023 Bonds, including the pledge of Special Assessments as security for the Series 2023 Bonds, it is desirable
to sell the Series 2023 Bonds pursuant to a negotiated sale so as to have an underwriter involved from the outset of the financing to assist in these matters;

because of changing market conditions for tax-exempt bonds and the necessity of being able to adjust the terms of the Series 2023 Bonds, it is in the best interests of the District to sell the Series 2023 Bonds by a negotiated sale;
the Underwriter has participated in structuring the issuance of the Series 2023 Bonds and can assist the District in attempting to obtain the most attractive financing for the District;

the Series 2023 Bonds do not bear a credit rating and will be offered initially only to accredited investors within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder; and
the District will not be adversely affected if the Series 2023 Bonds are not sold pursuant to a competitive sale.
Section 5.  Bond Purchase Contract. The District hereby approves the form of the Bond Purchase Contract submitted by the Underwriter and attached hereto as Exhibit B, and the sale of the Series 2023 Bonds by the District upon the terms and conditions set forth in the Bond Purchase Contract is hereby approved. The Chairperson or a Designated Member are each hereby authorized, acting individually, to execute the Bond Purchase Contract and to deliver the Bond Purchase Contract to the Underwriter. The Bond Purchase Contract shall be in substantially the form of the Bond Purchase Contract attached hereto as Exhibit B with such changes, amendments, modifications, omissions and additions as may be approved by the Chairperson or the Designated Member; provided, however,

If the Series 2023 Bonds are subject to optional redemption, which determination will be made on or before the sale date of the Series 2023 Bonds, the first optional call date and the redemption price shall be determined on or before the Bond Purchase Contract is executed;
The interest rate on the Series 2023 Bonds shall not exceed an average net interest cost rate, which shall be computed by adding 300 basis points to The Bond Buyer "20 Bond Index" published immediately preceding the first day of the calendar month in which the bonds are sold, as provided in Section 215.84(3), Florida Statutes, as amended;
The aggregate principal amount of the Series 2023 Bonds shall not exceed
$3,500,000;

The Series 2023 Bonds shall have a final maturity not later than the maximum term allowed by Florida law, with a principal amortization period of no longer than thirty (30) years; and
The price at which the Series 2023 Bonds shall be sold to the Underwriter shall not be less than 98% of the aggregate face amount of the Series 2023 Bonds, exclusive of original issue discount.
Execution by the Chairperson or a Designated Member of the Bond Purchase Contract shall be deemed to be conclusive evidence of approval of such changes.

Section 6. Preliminary Limited Offering Memorandum; Final Limited Offering Memorandum. The District hereby approves the form of the Preliminary Limited Offering Memorandum submitted to this meeting and attached hereto as Exhibit C and authorizes its distribution and use in connection with the limited offering for sale of the Series 2023 Bonds. The preparation of a final Limited Offering Memorandum relating to the Series 2023 Bonds (the "Limited Offering Memorandum") is hereby approved and the Chairperson or any Designated Member is hereby authorized to execute such final Limited Offering Memorandum to be dated the date of the award of the Series 2023 Bonds and, upon such award, to deliver the same to the Underwriter for use by it in connection with the sale and distribution of the Series 2023 Bonds. The Limited Offering Memorandum shall be substantially in the form of the Preliminary Limited Offering Memorandum attached hereto as Exhibit C, with such changes as shall be approved by the Chairperson or Designated Member as necessary to conform the details of the Series 2023 Bonds and such other insertions, modifications and changes as may be approved by the Chairperson or Designated Member. The execution and delivery of the Limited Offering Memorandum by the Chairperson or Designated Member shall constitute evidence of the approval thereof. The District hereby authorizes the use of the Limited Offering Memorandum and the information contained therein in connection with the offering and sale of the Series 2023 Bonds. The Chairperson is further authorized to deem the Preliminary Limited Offering Memorandum "final" within the meaning of Rule 15c2-12 of the Securities and Exchange Commission under the Securities Exchange Act of 1934, in the form as mailed, and in furtherance thereof to execute the Rule 15c2-12 Certificate evidencing the same substantially in the forms attached hereto as Exhibit D.

Section 7.  Continuing Disclosure. The District hereby authorizes and approves the execution and delivery of the Continuing Disclosure Agreement by and among the District, the Dissemination Agent and any landowner constituting an "Obligated Person" under the Continuing Disclosure Agreement, by the Chairperson or a Designated Member substantially in the form presented to this meeting and attached hereto as Exhibit E, with such changes therein as shall be approved by the Chairperson or Designated Member executing the same, with such execution to constitute conclusive evidence of such officer's approval and the District's approval of any changes therein from the form of Continuing Disclosure Agreement attached hereto. The Continuing Disclosure Agreement is being executed by the District in order to assist the Underwriter in complying with Rule 15c2-12(b)(5) promulgated by the U.S. Securities and Exchange Commission.

Section 8.  Application of Bond Proceeds. The proceeds of the Series 2023 Bonds shall be applied in the manner required in the Second Supplemental Indenture.

Section 9.  Further Official Action; Ratification of Prior and Subsequent Acts. The Chairperson, the Secretary and each member of the Board of Supervisors of the District and any other proper official of the District are each hereby authorized and directed to execute and deliver any and all documents and instruments (including, without limitation, any documents required by the Trustee to evidence its rights and obligations with respect to the Series 2023
Bonds, any documents required in connection with implementation of a book-entry system of registration, and investment agreements relating to the investment of the proceeds of the Series 2023 Bonds and any agreements in connection with maintaining the exclusion of interest on the Series 2023 Bonds from gross income of the holders thereof) and to do and cause to be done any and all acts and things necessary or desirable for carrying out the transactions contemplated by this Resolution. In the event that the Chairperson or the Secretary is unable to execute and deliver the documents herein contemplated, such documents shall be executed and delivered by the respective designee of such officer or official or any other duly authorized officer or official of the District. The Secretary or any Assistant Secretary is hereby authorized and directed to apply and attest the official seal of the District to any agreement or instrument authorized or approved herein that requires such a seal and attestation. The Chairperson or any Designated Member may, among other things, change the date of any document accompanying this Resolution as an exhibit. Execution by the Chairperson or a Designated Member of such document shall be deemed to be conclusive evidence of approval of such change of date. All of the acts and doings of such members of the Board, the officers of the District, and the agents and employees of the District, which are in conformity with the intent and purposes of this Resolution, whether heretofore or hereafter taken or done, shall be and are hereby ratified, confirmed and approved.

Section 10. Severability. If any section, paragraph, clause or provision of this Resolution shall be held to be invalid or ineffective for any reason, the remainder of this Resolution shall continue in full force and effect, it being expressly hereby found and declared that the remainder of this Resolution would have been adopted despite the invalidity or ineffectiveness of such section, paragraph, clause or provision.

Section 11. Inconsistent Proceedings. All resolutions or proceedings, or parts thereof, in conflict with the provisions hereof are to the extent of such conflict hereby repealed or amended to the extent of such inconsistency.

Section 12.  Ratification of Prior Acts. All actions previously taken by or on behalf of the District in connection with the issuance of the Series 2023 Bonds are hereby authorized, ratified and confirmed.
Section 13.  Public Meetings. It is hereby found and determined that all formal actions of the District concerning and relating to the adoption of this Resolution and the consummation of the transactions contemplated by this Resolution were adopted in open meetings of the District, and that all deliberations of the District that resulted in such formal action were in meetings open to the public, in compliance with all legal requirements.

Section 14. Effective Date. This Resolution shall take effect immediately upon its adoption.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK – SIGNATURE PAGE
FOLLOWS]
PASSED in Public Session of the Board of Supervisors of Scenic Terrace South Community Development District, this 16th day of August, 2023.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Attest:

Secretary,	Chairperson, Board of Supervisors Board of Supervisors
SCHEDULE I DESCRIPTION OF SERIES 2023 PROJECT
The Series 2023 Project includes, but is not limited to, Phase 4 of the following improvements:

Source: Scenic Terrace South Community Development District Engineer's Report – Amended and Restated dated August 14, 2023, prepared by Dewberry Engineers Inc.
EXHIBIT A

FORM OF SECOND SUPPLEMENTAL INDENTURE

A-1

SECOND SUPPLEMENTAL TRUST INDENTURE

between

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (TOWN OF LAKE HAMILTON, FLORIDA)

and

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION

as Trustee

Dated as of [	] 1, 2023

Authorizing and Securing
$	
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023
TABLE OF CONTENTS

ARTICLE I DEFINITIONS

ARTICLE II
THE SERIES 2023 BONDS

SECTION 2.01.	Amounts and Terms of Series 2023 Bonds; Issue of Series 2023

Page
Bonds	10
SECTION 2.02.	Execution	10
SECTION 2.03.	Authentication	10
SECTION 2.04.	Purpose, Designation and Denominations of, and Interest Accruals
on, the Series 2023 Bonds	10
SECTION 2.05.	Debt Service on the Series 2023 Bonds	11
SECTION 2.06.	Disposition of Series 2023 Bond Proceeds	12
SECTION 2.07.	Book-Entry Form of Series 2023 Bonds	12
SECTION 2.08.	Appointment of Registrar and Paying Agent	13
SECTION 2.09.	Conditions Precedent to Issuance of the Series 2023 Bonds	13
ARTICLE III REDEMPTION OF SERIES 2023 BONDS
SECTION 3.01.	Redemption Dates and Prices	15
SECTION 3.02.	Notice of Redemption	18
ARTICLE IV
ESTABLISHMENT OF CERTAIN FUNDS AND ACCOUNTS; ADDITIONAL COVENANTS OF THE ISSUER; PREPAYMENTS; REMOVAL OF SERIES 2023 SPECIAL ASSESSMENT LIENS
SECTION 4.01.	Establishment of Certain Funds and Accounts	19
SECTION 4.02.	Series 2023 Revenue Account	23
SECTION 4.03.	Power to Issue Series 2023 Bonds and Create Lien	24
SECTION 4.04.	Series 2023 Project to Conform to Engineer's Report	24
SECTION 4.05.	Prepayments; Removal of Series 2023 Special Assessment Liens	24
ARTICLE V
COVENANTS AND DESIGNATIONS OF THE ISSUER
SECTION 5.01.	Collection of Series 2023 Special Assessments	26
SECTION 5.02.	Continuing Disclosure	26
SECTION 5.03.	Investment of Funds and Accounts	26
SECTION 5.04.	Additional Bonds	26
SECTION 5.05.	Acknowledgement Regarding the Moneys in the Series 2023 Acquisition and Construction Account Following an Event of
Default	27
ARTICLE VI
THE TRUSTEE; THE PAYING AGENT AND REGISTRAR
SECTION 6.01.	Acceptance of Trust	28
SECTION 6.02.	Trustee's Duties	28
ARTICLE VII EVENT OF DEFAULT
SECTION 7.01.	Event of Default Defined	29
ARTICLE VIII MISCELLANEOUS PROVISIONS
SECTION 8.01.	Interpretation of Second Supplemental Trust Indenture	30
SECTION 8.02.	Amendments	30
SECTION 8.03.	Counterparts	30
SECTION 8.04.	Appendices and Exhibits	30
SECTION 8.05.	Payment Dates	30
SECTION 8.06.	No Rights Conferred on Others	30
EXHIBIT A	DESCRIPTION OF SERIES 2023 PROJECT EXHIBIT B	FORM OF SERIES 2023 BOND
EXHIBIT C	FORMS OF REQUISITIONS EXHIBIT D	FORM OF INVESTOR LETTER
THIS SECOND SUPPLEMENTAL TRUST INDENTURE (the "Second Supplemental Trust Indenture"), dated as of [	] 1, 2023, between the SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (together with its successors and assigns, the "Issuer" or the "District"), a local unit of special-purpose government organized and existing under the laws of the State of Florida, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association duly organized and existing under the laws of the United States of America and having a designated corporate trust office in Fort Lauderdale, Florida, as trustee (said national banking association and any bank or trust company becoming successor trustee under this Second Supplemental Trust Indenture being hereinafter referred to as the "Trustee");

W I T N E S S E T H:
WHEREAS, the Issuer is a local unit of special purpose government duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act") created pursuant to Ordinance No. O-21-19 enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town") on October 5, 2021 as amended by Ordinance No. O-23-05 enacted by the Town Council of the Town on May 2, 2023 (collectively, the "Ordinance"), for the purposes of delivering community development services and facilities to property to be served by the District (as defined below); and

WHEREAS, the premises governed by the Issuer (the "District Lands") (as further described in Exhibit A attached to the Master Indenture (as defined herein)) currently consist of approximately 211.11 acres of land located entirely within the Town; and
WHEREAS, the Issuer has been created for the purpose of delivering certain community development services and facilities for the benefit of the District Lands; and
WHEREAS, the Issuer has determined to undertake, in four phases, the acquisition and/or construction of public infrastructure improvements including, but not limited to stormwater facilities, lift stations, water and sewer facilities, street lighting and electrical distribution (undergrounding), onsite and offsite road construction, landscaping and entry features and signage, and parks and recreational facilities for the special benefit of the District Lands (the "Project"), as described in the Scenic Terrace South Community Development District Engineer's Report – Amended and Restated dated August 14, 2023, prepared by Dewberry Engineers Inc., and summarized in Exhibit A attached hereto; and

WHEREAS, the District obtained a final judgment in the Tenth Judicial Circuit Court in and for Polk County, Florida on January 10, 2022, validating Bonds to be issued under the Master Indenture, with no timely appeals filed; and

WHEREAS, the Issuer has previously adopted Resolution No. 2022-26 on October 13, 2021 , authorizing the issuance of not to exceed $42,000,000 in aggregate principal amount of its Special Assessment Bonds (the "Bonds") to finance all or a portion of the planning, design, acquisition and construction costs of the Project pursuant to the Act for the special benefit of the District Lands or portions thereof and approving the form of and authorizing the execution and delivery of the Master Indenture; and
WHEREAS, pursuant to that certain Master Trust Indenture dated as of April 1, 2022 (the "Master Indenture"), as supplemented by a First Supplemental Trust Indenture dated as of April 1, 2022, each between the Issuer and the Trustee, the Issuer previously issued its $22,350,000 Scenic Terrace South Community Development District Special Assessment Bonds, Series 2022, for the primary purpose of funding a portion of the costs of certain public improvements; and

WHEREAS, the Issuer has determined to issue its second a Series of Bonds, designated as the "Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023" (the "Series 2023 Bonds"), pursuant to that certain Master Indenture and this Second Supplemental Trust Indenture (hereinafter sometimes collectively referred to as the "Series 2023 Indenture"); and

WHEREAS, in the manner provided herein, the proceeds of the Series 2023 Bonds will be used for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project,
(ii) funding a deposit to the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement, (iii) paying a portion of the interest coming due on the Series 2023 Bonds, and (iv) paying the costs of issuance of the Series 2023 Bonds; and
WHEREAS, the Series 2023 Bonds will be secured by a pledge of Series 2023 Pledged Revenues (as herein defined) to the extent provided herein.

NOW, THEREFORE, THIS SECOND SUPPLEMENTAL TRUST INDENTURE
WITNESSETH, that to provide for the issuance of the Series 2023 Bonds, the security and payment of the principal or redemption price thereof (as the case may be) and interest thereon, the rights of the Bondholders and the performance and observance of all of the covenants contained herein and in said Series 2023 Bonds, and for and in consideration of the mutual covenants herein contained and of the purchase and acceptance of the Series 2023 Bonds by the Holders thereof, from time to time, and of the acceptance by the Trustee of the trusts hereby created, and intending to be legally bound hereby, the Issuer does hereby assign, transfer, set over and pledge to U.S. Bank Trust Company, National Association, as Trustee, its successors in trust and its assigns forever, and grants a lien on all of the right, title and interest of the Issuer in and to the Series 2023 Pledged Revenues as security for the payment of the principal, redemption or purchase price of (as the case may be) and interest on the Series 2023 Bonds issued hereunder, all in the manner hereinafter provided, and the Issuer further hereby agrees with and covenants unto the Trustee as follows:

TO HAVE AND TO HOLD the same and, to the extent the same may be lawfully granted, any other revenues, property, contracts or contract rights, accounts receivable, chattel paper, instruments, general intangibles or other rights and the proceeds thereof, which may, by delivery, assignment or otherwise, be subject to the lien created by the Series 2023 Indenture with respect to the Series 2023 Bonds.

IN TRUST NEVERTHELESS, for the equal and ratable benefit and security of all present and future Holders of the Series 2023 Bonds issued and to be issued under this Second Supplemental Trust Indenture, without preference, priority or distinction as to lien or otherwise (except as otherwise specifically provided in this Second Supplemental Trust Indenture) of any
one Series 2023 Bond over any other Series 2023 Bond, all as provided in the Series 2023 Indenture.

PROVIDED, HOWEVER, that if the Issuer, its successors or assigns, shall well and truly pay, or cause to be paid, or make due provision for the payment of the principal or redemption price of the Series 2023 Bonds issued, secured and Outstanding hereunder and the interest due or to become due thereon, at the times and in the manner mentioned in such Series 2023 Bonds and the Series 2023 Indenture, according to the true intent and meaning thereof and hereof, and the Issuer shall well and truly keep, perform and observe all the covenants and conditions pursuant to the terms of the Series 2023 Indenture to be kept, performed and observed by it, and shall pay or cause to be paid to the Trustee all sums of money due or to become due to it in accordance with the terms and provisions hereof, then upon such final payments this Second Supplemental Trust Indenture and the rights hereby granted shall cease and terminate, otherwise this Second Supplemental Trust Indenture to be and remain in full force and effect.

ARTICLE I DEFINITIONS
In this Second Supplemental Trust Indenture capitalized terms used without definition shall have the meanings ascribed thereto in the Master Indenture and, in addition to certain terms defined in the recitals above, the following terms shall have the meanings specified below, unless otherwise expressly provided or unless the context otherwise requires:
"Acquisition Agreement" shall mean the certain Agreement by and between the District and the Series 2023 Landowner regarding the acquisition of certain work product, improvements and real property, dated 	  , 2023.

"Arbitrage Certificate" shall mean that certain Arbitrage Certificate, including arbitrage rebate covenants, of the Issuer, dated 	, 2023, relating to certain restrictions on arbitrage under the Code with respect to the Series 2023 Bonds.
"Assessment Resolutions" shall mean Resolution Nos. 2023-05, 2023-06, 2023-11 and [2023- ] of the Issuer adopted on May 17, 2023, May 17, 2023, July 19, 2023 and [	  , 2023], respectively, as amended and supplemented from time to time.

"Authorized Denomination" shall mean, with respect to the Series 2023 Bonds, on the date of issuance in the denominations of $5,000 and any integral multiple thereof; provided, however, if any initial Beneficial Owner (as defined in the Master Indenture) does not purchase at least
$100,000 of the Series 2023 Bonds at the time of initial delivery of the Series 2023 Bonds, such Beneficial Owner must either execute and deliver to the Issuer and the Underwriter on the date of delivery of the Series 2023 Bonds the investor letter in the form attached hereto as Exhibit D or otherwise establish to the satisfaction of the Underwriter that such Beneficial Owner is an "accredited investor," as described in Rule 501(a) under Regulation D of the Securities Act of 1933, as amended.
"Collateral Assignment" shall mean the agreement wherein certain rights and material documents necessary to complete the development planned by the Series 2023 Landowner on the District Lands are collaterally assigned to the District as security for the Series 2023 Landowner's
obligation to pay the Series 2023 Special Assessments imposed against such lands which are within the Series 2023 Assessment Area subject to the Series 2023 Special Assessments and owned by the Series 2023 Landowner from time to time.
"Completion Agreement" shall mean the Agreement between the District and the Series 2023 Landowner regarding the completion of certain improvements, dated 	  , 2023.
"Continuing Disclosure Agreement" shall mean the Continuing Disclosure Agreement for the benefit of the Beneficial Owners of the Series 2023 Bonds, dated 	  , 2023, by and among the Issuer, the dissemination agent named therein, and the Series 2023 Landowner, in connection with the issuance of the Series 2023 Bonds.
"Declaration of Consent" shall mean the certain instrument executed by the Series 2023 Landowner declaring consent to the jurisdiction of the District and the imposition of the Series 2023 Special Assessments.

"District Manager" shall mean Governmental Management Services – Central Florida, LLC, and its successors and assigns.

"Engineer's Report" shall mean the Scenic Terrace South Community Development District Engineer's Report – Amended and Restated dated August 14, 2023.

"Interest Payment Date" shall mean May 1 and November 1 of each year, commencing November 1, 2023.

"Investment Securities" shall mean and include any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer:

Government Obligations;
money market deposit accounts, time deposits, and certificates of deposits issued by commercial banks, savings and loan associations or mutual savings banks whose short- term obligations are rated, at the time of purchase, in one of the two highest rating categories, without regard to gradation, by Moody's and S&P;
commercial paper (having maturities of not more than 270 days) rated, at the time of purchase, in one of the two highest rating categories, without regard to gradation, by Moody's and S&P;

obligations of any state of the United States or political subdivision thereof or constituted authority thereof the interest on which is exempt from federal income taxation under Section 103 of the Code and rated in one of the top two rating categories by both Moody's and S&P at the time of purchase;

both (A) shares of a diversified open-end management investment company (as defined in the Investment Company Act of 1940) or a regulated investment company (as defined in Section 851(a) of the Code) that is a money market fund that is rated in the highest rating category for such funds by both Moody's and S&P, and (B) shares of money market mutual
funds that invest only in Government Obligations and repurchase agreements secured by such obligations, which funds are rated in the highest categories for such funds by both Moody's and S&P at the time of purchase;
bonds, notes and other debt obligations of any corporation organized under the laws of the United States, any state or organized territory of the United States or the District of Columbia, if such obligations are rated in one of the three highest ratings by both Moody's and S&P or in one of the two highest categories by either S&P or Moody's at the time of purchase; and
the Local Government Surplus Funds Trust Fund as described in Florida Statutes, Section 218.405 or the corresponding provisions of subsequent laws provided that such fund, at the time of purchase, is rated at least "AA" by S&P (without regard to gradation) or at least "Aa" by Moody's (without regard to gradation).
Under all circumstances the Trustee shall be entitled to conclusively rely that any investment directed by the Issuer in writing is permitted under the Indenture, and a legal investment for funds of the Issuer.

"Majority Holders" means the Beneficial Owners of more than fifty percent (50%) in aggregate principal amount of the Outstanding Series 2023 Bonds.

"Master Indenture" shall mean the Master Trust Indenture, dated as of April 1, 2022, by and between the Issuer and the Trustee, as supplemented and amended with respect to matters pertaining solely to the Master Indenture or the Series 2023 Bonds (as opposed to supplements or amendments relating to any Series of Bonds other than the Series 2023 Bonds as specifically defined in this Second Supplemental Trust Indenture).

"Paying Agent" shall mean U.S. Bank Trust Company, National Association, and its successors and assigns as Paying Agent hereunder.
"Prepayment" shall mean the payment by any owner of property of the amount of Series 2023 Special Assessments encumbering its property, in whole or in part, prior to its scheduled due date, including optional prepayments. The term "Prepayment" also means any proceeds received as a result of accelerating and/or foreclosing the Series 2023 Special Assessments. "Prepayments" shall include, without limitation, Series 2023 Prepayment Principal.

"Project" shall mean all of the public infrastructure deemed necessary for the development of the District including, but not limited to, the Series 2023 Project.

"Quarterly Redemption Date" shall mean each February 1, May 1, August 1, and November 1 of any calendar year.

"Redemption Price" shall mean the principal amount of any Series 2023 Bond plus the applicable premium, if any payable upon redemption thereof pursuant to this Second Supplemental Trust Indenture.
"Registrar" shall mean U.S. Bank Trust Company, National Association and its successors and assigns as Registrar hereunder.
"Regular Record Date" shall mean the fifteenth day (whether or not a Business Day) of the calendar month next preceding each Interest Payment Date or the date on which the principal of the Series 2023 Bonds are to be paid.
"Reserve Release Conditions #1" shall mean collectively (i) all lots subject to the Series 2023 Special Assessments have been developed, platted and conveyed to homebuilders, as certified by the District Manager in writing and upon which the Trustee may conclusively rely, and (ii) there shall be no Events of Default under the Series 2023 Indenture, all as certified by the District Manager in writing and upon which the Trustee may conclusively rely.

"Reserve Release Conditions #2" shall mean collectively (i) satisfaction of Reserve Release Conditions #1, (ii) all homes subject to Series 2023 Special Assessments have been built and have received a certificate of occupancy, (iii) all of the outstanding principal portion of the Series 2023 Special Assessments has been assigned to such homes and (iv) there shall be no Events of Default under the Series 2023 Indenture, all as certified by the District Manager in writing and upon which the Trustee may conclusively rely.

"Resolution" shall mean, collectively, (i) Resolution No. 2022-26 of the Issuer adopted on October 13, 2021, pursuant to which the Issuer authorized the issuance of not exceeding
$42,000,000 aggregate principal amount of its Bonds to finance the construction or acquisition of the Project, and (ii) Resolution No. 2023-16 of the Issuer adopted on August 16, 2023, pursuant to which the Issuer authorized, among other things, the issuance of the Series 2023 Bonds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, specifying the details of the Series 2023 Bonds and awarding the Series 2023 Bonds to the purchasers of the Series 2023 Bonds.

"Series 2023 Acquisition and Construction Account" shall mean the Account established pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture.

"Series 2023 Assessment Area" shall mean the approximately 20.271 gross acres of land within the District currently planned for a total of 99 residential units comprising Phase 4 of development.
"Series 2023 Bond Redemption Account" shall mean the Account so designated, established as a separate Account within the Bond Redemption Fund pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series 2023 Bonds" shall mean the $	 aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023, to be issued as fully registered Bonds in accordance with the provisions of the Master Indenture and this Second Supplemental Trust Indenture, and secured and authorized by the Master Indenture and this Second Supplemental Trust Indenture.

"Series 2023 Costs of Issuance Account" shall mean the Account so designated, established as a separate Account within the Acquisition and Construction Fund pursuant to Section 4.01(a) of this Second Supplemental Trust Indenture.
"Series 2023 General Redemption Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2023 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.
"Series 2023 Indenture" shall mean collectively, the Master Indenture and this Second Supplemental Trust Indenture.
"Series 2023 Interest Account" shall mean the Account so designated, established as a separate Account within the Debt Service Fund pursuant to Section 4.01(d) of this Second Supplemental Trust Indenture.

"Series 2023 Landowner" shall mean, [	, a 	], and any entity or entities which succeed to all or any part of the interests and assume any or all of the responsibilities of said entities.
"Series 2023 Optional Redemption Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2023 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series 2023 Pledged Revenues" shall mean with respect to the Series 2023 Bonds (a) all revenues received by the Issuer from Series 2023 Special Assessments levied and collected on the assessable lands within the Series 2023 Assessment Area, benefitted by the Series 2023 Project, including, without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2023 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2023 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Series 2023 Indenture created and established with respect to or for the benefit of the Series 2023 Bonds; provided, however, that Series 2023 Pledged Revenues shall not include (A) any moneys transferred to the Series 2023 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund, and (C) "special assessments" levied and collected by the Issuer under Section 190.022 of the Act for maintenance purposes or "maintenance assessments" levied and collected by the Issuer under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Series 2023 Indenture shall not apply to any of the moneys described in the foregoing clauses (A), (B) and (C) of this proviso).

"Series 2023 Prepayment Principal" shall mean the portion of a Prepayment corresponding to the principal amount of Series 2023 Special Assessments being prepaid pursuant to Section 4.05 of this Second Supplemental Trust Indenture or Series 2023 Special Assessments collected as a result of an acceleration of the Series 2023 Special Assessments pursuant to Section 170.10, Florida Statutes, if such Series 2023 Special Assessments are being collected through a direct billing method.
"Series 2023 Prepayment Subaccount" shall mean the subaccount so designated, established as a separate subaccount under the Series 2023 Bond Redemption Account pursuant to Section 4.01(g) of this Second Supplemental Trust Indenture.

"Series 2023 Project" shall mean the public infrastructure described on Exhibit A attached hereto benefitting the Series 2023 Assessment Area and referred to therein as "Phase 4".
"Series 2023 Rebate Account" shall mean the Account so designated, established as a separate Account within the Rebate Fund pursuant to Section 4.01(j) of this Second Supplemental Trust Indenture.
"Series 2023 Reserve Account" shall mean the Account so designated, established as a separate Account within the Debt Service Reserve Fund pursuant to Section 4.01(f) of this Second Supplemental Trust Indenture.

"Series 2023 Reserve Requirement" or "Reserve Requirement" shall be (i) initially, an amount equal to the maximum annual debt service on the Series 2023 Bonds as calculated from time to time; (ii) upon the occurrence of the Reserve Release Conditions #1, fifty percent (50%) of the maximum annual debt service on the Series 2023 Bonds as calculated from time to time; and (iii) upon the occurrence of the Reserve Release Conditions #2, ten percent (10%) of the maximum annual debt service on the Series 2023 Bonds as calculated from time to time. Upon satisfaction of the Reserve Release Conditions #1 or Reserve Release Conditions #2, as applicable, such excess amount shall be released from the Series 2023 Reserve Account and transferred to the Series 2023 Acquisition and Construction Account in accordance with the provisions of Sections 4.01(a) and 4.01(f) hereof. For the purpose of calculating the Series 2023 Reserve Requirement, maximum annual debt service, fifty percent (50%) of maximum annual debt service, or ten percent (10%) of maximum annual debt service, as the case may be, shall be recalculated in connection with the extraordinary mandatory redemption described in Sections 3.01(b)(i) and 3.01(b)(iii) hereof (but not upon the optional or mandatory sinking fund redemption thereof) and such excess amount shall be released from the Series 2023 Reserve Account and, other than as provided in the immediately preceding sentence, transferred to the Series 2023 General Redemption Subaccount or the Series 2023 Prepayment Subaccount as applicable, in accordance with the provisions of Sections 3.01(b)(i), 3.01(b)(iii), 4.01(f), 4.01(i) and 4.05(a) hereof. Amounts on deposit in the Series 2023 Reserve Account may, upon final maturity or redemption of all Outstanding Series 2023 Bonds be used to pay principal of and interest on the Series 2023 Bonds at that time. Initially, the Series 2023 Reserve Requirement shall be equal to $	.

"Series 2023 Revenue Account" shall mean the Account so designated, established as a separate Account within the Revenue Fund pursuant to Section 4.01(b) of this Second Supplemental Trust Indenture.

"Series 2023 Sinking Fund Account" shall mean the Account so designated, established as a separate Account within the Debt Service Fund pursuant to Section 4.01(e) of this Second Supplemental Trust Indenture.
"Series 2023 Special Assessments" shall mean the Special Assessments levied on the assessable lands within the Series 2023 Assessment Area as a result of the Issuer's acquisition and/or construction of the Series 2023 Project, corresponding in amount to the debt service on the Series 2023 Bonds and designated as such in the methodology report relating thereto.
"Substantially Absorbed" means the date at least 90% of the principal portion of the Series 2023 Special Assessments have been assigned to residential units within the Series 2023 Assessment Area that have received certificates of occupancy. The District shall present the Trustee with a certification that the Series 2023 Special Assessments are Substantially Absorbed
and the Trustee may rely conclusively upon such certification and shall have no duty to verify if the Series 2023 Special Assessments are Substantially Absorbed.

"True-Up Agreement" shall mean the Agreement dated 	, 2023, by and between the Issuer and the Series 2023 Landowner relating to the true-up of Series 2023 Special Assessments.

"Underwriter" shall mean FMSbonds, Inc., the underwriter of the Series 2023 Bonds.

The words "hereof," "herein," "hereto," "hereby," and "hereunder" (except in the form of Series 2023 Bonds), refer to the entire Series 2023 Indenture.

Every "request," "requisition," "order," "demand," "application," "notice," "statement," "certificate," "consent," or similar action hereunder by the Issuer shall, unless the form or execution thereof is otherwise specifically provided, be in writing signed by the Chairperson or Vice Chairperson and the Treasurer or Assistant Treasurer or the Secretary or Assistant Secretary or Responsible Officer of the Issuer.

All words and terms importing the singular number shall, where the context requires, import the plural number and vice versa.
[END OF ARTICLE I]
ARTICLE II
THE SERIES 2023 BONDS

SECTION 2.01.  Amounts and Terms of Series 2023 Bonds; Issue of Series 2023 Bonds. No Series 2023 Bonds may be issued under this Second Supplemental Trust Indenture except in accordance with the provisions of this Article and Articles II and III of the Master Indenture.

The total principal amount of Series 2023 Bonds that may be issued under this Second Supplemental Trust Indenture is expressly limited to $	. The Series 2023 Bonds shall be numbered consecutively from R-1 and upwards.
Any and all Series 2023 Bonds shall be issued substantially in the form attached hereto as Exhibit B, with such appropriate variations, omissions and insertions as are permitted or required by the Series 2023 Indenture and with such additional changes as may be necessary or appropriate to conform to the provisions of the Resolution. The Issuer shall issue the Series 2023 Bonds upon execution of this Second Supplemental Trust Indenture and satisfaction of the requirements of Section 3.01 of the Master Indenture; and the Trustee shall, at the Issuer's request, authenticate such Series 2023 Bonds and deliver them as specified in the request.

SECTION 2.02.   Execution. The Series 2023 Bonds shall be executed by the Issuer as set forth in the Master Indenture.

SECTION 2.03.  Authentication. The Series 2023 Bonds shall be authenticated as set forth in the Master Indenture. No Series 2023 Bond shall be valid until the certificate of authentication shall have been duly executed by the Trustee, as provided in the Master Indenture.
SECTION 2.04.  Purpose, Designation and Denominations of, and Interest Accruals on, the Series 2023 Bonds.
The Series 2023 Bonds are being issued hereunder in order to provide funds for the purposes of (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, (ii) funding a deposit to the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement,
(iii) paying a portion of the interest coming due on the Series 2023 Bonds and (iv) paying the costs of issuance of the Series 2023 Bonds. The Series 2023 Bonds shall be designated "Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023," and shall be issued as fully registered Bonds without coupons in Authorized Denominations.
The Series 2023 Bonds shall be dated as of the date of initial delivery. Interest on the Series 2023 Bonds shall be payable on each Interest Payment Date to maturity or prior redemption. Interest on the Series 2023 Bonds shall be payable from the most recent Interest Payment Date next preceding the date of authentication thereof to which interest has been paid, unless the date of authentication thereof is a May 1 or November 1 to which interest has been paid, in which case from such date of authentication, or unless the date of authentication thereof is prior to November 1, 2023, in which case from the date of initial delivery or unless the date of authentication thereof is between a Record Date and the next succeeding Interest Payment Date, in which case from such Interest Payment Date.
Except as otherwise provided in Section 2.07 of this Second Supplemental Trust Indenture in connection with a book entry only system of registration of the Series 2023 Bonds, the principal or Redemption Price of the Series 2023 Bonds shall be payable in lawful money of the United States of America at the designated corporate trust office of the Paying Agent upon presentation of such Series 2023 Bonds. Except as otherwise provided in Section 2.07 of this Second Supplemental Trust Indenture in connection with a book entry only system of registration of the Series 2023 Bonds, the payment of interest on the Series 2023 Bonds shall be made on each Interest Payment Date to the Registered Owners of the Series 2023 Bonds by check or draft drawn on the Paying Agent and mailed on the applicable Interest Payment Date to each Registered Owner as such Registered Owner appears on the Bond Register maintained by the Registrar as of the close of business on the Regular Record Date, at his address as it appears on the Bond Register. Any interest on any Series 2023 Bond which is payable, but is not punctually paid or provided for on any Interest Payment Date (hereinafter called "Defaulted Interest") shall be paid to the Registered Owner in whose name the Series 2023 Bond is registered at the close of business on a Special Record Date to be fixed by the Trustee, such date to be not more than fifteen
(15) nor less than ten (10) days prior to the date of proposed payment. The Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be sent by Electronic Means or mailed, first-class, postage-prepaid, to each Registered Owner of record as of the fifth (5th) day prior to such mailing, at his address as it appears in the Bond Register not less than ten (10) days prior to such Special Record Date. The foregoing notwithstanding, any Registered Owner of Series 2023 Bonds in an aggregate principal amount of at least $1,000,000 shall be entitled to have interest paid by wire transfer to such Registered Owner to the bank account number on file with the Paying Agent, upon requesting the same in a writing received by the Paying Agent at least fifteen (15) days prior to the relevant Record Date, which writing shall specify the bank, which shall be a bank within the continental United States, and bank account number to which interest payments are to be wired. Any such request for interest payments by wire transfer shall remain in effect until rescinded or changed, in a writing delivered by the Registered Owner to the Paying Agent, and any such rescission or change of wire transfer instructions must be received by the Paying Agent at least fifteen (15) days prior to the relevant Record Date.

SECTION 2.05.	Debt Service on the Series 2023 Bonds.
The Series 2023 Bonds will mature on May 1 in the years and in the principal amounts, and bear interest at the rates all set forth below, subject to the right of prior redemption in accordance with their terms.

Year	Amount	Interest Rate

Interest on the Series 2023 Bonds will be computed in all cases on the basis of a 360 day year of twelve 30 day months. Interest on overdue principal and, to the extent lawful, on overdue interest will be payable at the numerical rate of interest borne by the Series 2023 Bonds on the day before the default occurred.
SECTION 2.06.	Disposition of Series 2023 Bond Proceeds. From the net proceeds of the Series 2023 Bonds received by the Trustee in the amount of $	 (par amount of
$	 less underwriter's discount of $	, which is retained by the underwriter of the Series 2023 Bonds):

$	, which is an amount equal to the initial Series 2023 Reserve Requirement, shall be deposited in the Series 2023 Reserve Account of the Debt Service Reserve Fund;

$	, shall be deposited into the Series 2023 Interest Account of the Debt Service Fund and applied to pay interest coming due on the Series 2023 Bonds through November 1, 2023;

$	, shall be deposited into the Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund for payment of the costs of issuing the Series 2023 Bonds; and
$	, representing the balance of the net proceeds of the Series 2023 Bonds, shall be deposited into the Series 2023 Acquisition and Construction Account of the Acquisition and Construction Fund, which the Issuer shall cause to be applied to the payment of costs of the Series 2023 Project, subject to and in accordance with Section 4.01(a) hereof, Article V of the Master Indenture and the terms of the Acquisition Agreement.

SECTION 2.07.  Book-Entry Form of Series 2023 Bonds. The Series 2023 Bonds shall be issued as one fully registered bond for each maturity of Series 2023 Bonds and deposited with The Depository Trust Company ("DTC"), New York, New York, which is responsible for establishing and maintaining records of ownership for its participants.

As long as the Series 2023 Bonds are held in book-entry-only form, Cede & Co. shall be considered the Registered Owner for all purposes hereof and in the Master Indenture. The Series 2023 Bonds shall not be required to be presented for payment. DTC shall be responsible for maintaining a book-entry-only system for recording the ownership interest of its participants ("DTC Participants") and other institutions that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The DTC Participants and Indirect Participants will be responsible for maintaining records with respect to the beneficial ownership interests of individual purchasers of the Series 2023 Bonds ("Beneficial Owners").

Principal and interest on the Series 2023 Bonds registered in the name of Cede & Co. prior to and at maturity shall be payable directly to Cede & Co. in care of DTC. Disbursal of such amounts to DTC Participants shall be the responsibility of DTC. Payments by DTC Participants to Indirect Participants, and by DTC Participants and Indirect Participants to Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Trustee or the Issuer.
Individuals may purchase beneficial interests in Authorized Denominations in book-entry- only form, without certificated Series 2023 Bonds, through DTC Participants and Indirect Participants.
During the period for which Cede & Co. is Registered Owner of the Series 2023 Bonds, any notices to be provided to any Beneficial Owner will be provided to Cede & Co. DTC shall be responsible for notices to DTC Participants and DTC Participants shall be responsible for notices to Indirect Participants, and DTC Participants and Indirect Participants shall be responsible for notices to Beneficial Owners.

The Issuer and the Trustee, if appropriate, shall enter into a blanket letter of representations with DTC providing for such book-entry-only system. Such agreement may be terminated at any time by either DTC or the Issuer in accordance with the procedures of DTC. In the event of such termination, the Issuer shall select another securities depository and in that event, all references herein to DTC or Cede & Co., shall be deemed to be for reference to such successor. If the Issuer does not replace DTC, the Trustee will register and deliver to the Beneficial Owners replacement Series 2023 Bonds in the form of fully registered Series 2023 Bonds in accordance with the instructions from Cede & Co.

In the event DTC, any successor of DTC or the Issuer, but only in accordance with the procedures of DTC, elects to discontinue the book-entry only system, the Trustee shall deliver bond certificates in accordance with the instructions from DTC or its successor and after such time Series 2023 Bonds may be exchanged for an equal aggregate principal amount of Series 2023 Bonds in other Authorized Denominations upon surrender thereof at the designated corporate trust office of the Trustee.
SECTION 2.08.   Appointment of Registrar and Paying Agent. The Issuer shall keep, at the designated corporate trust office of the Registrar, books (the "Bond Register") for the registration, transfer and exchange of the Series 2023 Bonds, and hereby appoints U.S. Bank Trust Company, National Association, as its Registrar to keep such books and make such registrations, transfers, and exchanges as required hereby. U.S. Bank Trust Company, National Association hereby accepts its appointment as Registrar and its duties and responsibilities as Registrar hereunder. Registrations, transfers and exchanges shall be without charge to the Bondholder requesting such registration, transfer or exchange, but such Bondholder shall pay any taxes or other governmental charges on all registrations, transfers and exchanges.

The Issuer hereby appoints U.S. Bank Trust Company, National Association as Paying Agent for the Series 2023 Bonds. U.S. Bank Trust Company, National Association hereby accepts its appointment as Paying Agent and its duties and responsibilities as Paying Agent hereunder.
SECTION 2.09.  Conditions Precedent to Issuance of the Series 2023 Bonds. In addition to complying with the requirements set forth in the Master Indenture in connection with the issuance of the Series 2023 Bonds, all the Series 2023 Bonds shall be executed by the Issuer for delivery to the Trustee and thereupon shall be authenticated by the Trustee and delivered to the Issuer or upon its order, but only upon the further receipt by the Trustee of:

Certified copies of the Assessment Resolutions;
A copy of the executed Master Indenture and an executed copy of this Second Supplemental Trust Indenture;
Customary closing opinions of District Counsel and Bond Counsel;
A certificate of an authorized officer to the effect that, upon the authentication and delivery of the Series 2023 Bonds, the Issuer will not be in default in the performance of the terms and provisions of the Master Indenture or this Second Supplemental Trust Indenture;

Copies of executed investor letters in the form attached hereto as Exhibit D if such investor letter is required, as determined by the Underwriter; and

Executed copies of the Arbitrage Certificate, the True-Up Agreement, the Acquisition Agreement, Declaration of Consent, the Completion Agreement, the Continuing Disclosure Agreement and the Collateral Assignment.
Payment to the Trustee of the net proceeds of the Series 2023 Bonds shall be conclusive evidence that the foregoing conditions have been fulfilled to the satisfaction of the Issuer and the Underwriter.
[END OF ARTICLE II]
ARTICLE III REDEMPTION OF SERIES 2023 BONDS

SECTION 3.01.  Redemption Dates and Prices. The Series 2023 Bonds shall be subject to redemption at the times and in the manner provided in Article VIII of the Master Indenture and in this Article III. All payments of the Redemption Price of the Series 2023 Bonds shall be made on the dates hereinafter required. Except as otherwise provided in this Section 3.01, if less than all the Series 2023 Bonds of a maturity are to be redeemed pursuant to an extraordinary mandatory redemption, the Trustee shall select the Series 2023 Bonds or portions of the Series 2023 Bonds to be redeemed by lot. Partial redemptions of Series 2023 Bonds shall, to the extent possible, be made in such a manner that the remaining Series 2023 Bonds held by each Bondholder shall be in Authorized Denominations, except for the last remaining Series 2023 Bond.

The Series 2023 Bonds are subject to redemption prior to maturity in the amounts, at the times and in the manner provided below. All payments of the Redemption Price of the Series 2023 Bonds shall be made on the dates specified below. Upon any redemption of Series 2023 Bonds other than in accordance with scheduled mandatory sinking fund redemptions, the Issuer shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2023 Bonds in substantially equal annual installments of principal and interest (subject to rounding to Authorized Denominations of principal) over the remaining term of the Series 2023 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2023 Bonds in any year. In the event of a redemption or purchase occurring less than forty-five (45) days prior to a date on which a mandatory sinking fund redemption amount is due, the foregoing recalculation shall not be made to the mandatory sinking fund redemption amounts due in the year in which such redemption occurs, but shall be made to the mandatory sinking fund redemption amounts for the immediately succeeding and subsequent years.

Optional Redemption. The Series 2023 Bonds maturing after May 1, 20  may, at the option of the Issuer be called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20  (less than all Series 2023 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2023 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2023 Optional Redemption Subaccount of the Series 2023 Bond Redemption Account. If such optional redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Extraordinary Mandatory Redemption in Whole or in Part. The Series 2023 Bonds are subject to extraordinary mandatory redemption prior to maturity by the Issuer in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2023 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:
from Series 2023 Prepayment Principal deposited into the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account following the payment in whole or in part of Series 2023 Special Assessments on any assessable property within the District in accordance with the provisions of Section 4.05(a) of this Second Supplemental Trust Indenture, together with any excess moneys transferred by the Trustee from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount as a result of such Prepayment and pursuant to Sections 4.01(f) and 4.05(a) of this Second Supplemental Trust Indenture. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee hereunder (other than the Series 2023 Rebate Fund and the Series 2023 Acquisition and Construction Account) sufficient to pay and redeem all Outstanding Series 2023 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture.

upon the Completion Date, from any funds remaining on deposit in the Series 2023 Acquisition and Construction Account in accordance with the provisions of Section 4.01(a) hereof, not otherwise reserved to complete the Series 2023 Project and transferred to the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account, together with moneys deposited therein in accordance with the provisions of Section 4.01(a) hereof, as a result of the reduction of the Series 2023 Reserve Requirement.. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Mandatory Sinking Fund Redemption. The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount

* Maturity.

The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount

* Maturity.

The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Mandatory Sinking Fund
Year	Redemption Amount

* Maturity.
The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Mandatory Sinking Fund
Year	Redemption Amount

* Maturity.

SECTION 3.02.  Notice of Redemption. When required to redeem Series 2023 Bonds under any provision of this Second Supplemental Trust Indenture or directed to redeem Series 2023 Bonds by the Issuer, the Trustee shall give or cause to be given to Registered Owners of the Series 2023 Bonds to be redeemed, notice of the redemption, as set forth in Article VIII of the Master Indenture.

[END OF ARTICLE III]
ARTICLE IV
ESTABLISHMENT OF CERTAIN FUNDS AND ACCOUNTS; ADDITIONAL COVENANTS OF THE ISSUER; PREPAYMENTS; REMOVAL OF SERIES 2023 SPECIAL ASSESSMENT LIENS
SECTION 4.01.   Establishment of Certain Funds and Accounts.(a)  The  Trustee shall establish a separate account within the Acquisition and Construction Fund designated as the "Series 2023 Acquisition and Construction Account." Net proceeds of the Series 2023 Bonds shall initially be deposited into the Series 2023 Acquisition and Construction Account in the amount set forth in Section 2.06 of this Second Supplemental Trust Indenture, together with any moneys subsequently transferred or deposited thereto, including moneys transferred from the Series 2023 Reserve Account after satisfaction of either the Reserve Release Conditions #1 or Reserve Release Conditions #2 as certified in writing by the District Manager and upon which the Trustee may conclusively rely, and such moneys shall be applied as set forth in this Section 4.01(a), Section
5.01 of the Master Indenture, the Acquisition Agreement and the Engineer's Report. Funds on deposit in the Series 2023 Acquisition and Construction Account shall only be requested by the Issuer to be applied to the Costs of the Series 2023 Project, subject to Section 4.01(f) herein. Upon satisfaction of the Reserve Release Conditions #1 and Reserve Release Conditions #2, the amount on deposit in the Series 2023 Reserve Account in excess of the Series 2023 Reserve Requirement, as applicable and as calculated by the District shall then be transferred by the Trustee to the Series 2023 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer, and applied as provided in this Section 4.01(a).

Following the Completion Date for the Series 2023 Project, all moneys remaining in the Series 2023 Acquisition and Construction Account that have not been requisitioned within thirty
(30) days after satisfaction of the Reserve Release Conditions #2, shall be transferred to the Series 2023 General Redemption Subaccount, as directed in writing by the District Manager, on behalf of the Issuer to the Trustee to be applied as provided in Section 3.01(b)(iii). Notwithstanding the foregoing, the Series 2023 Acquisition and Construction Account shall not be closed until the Reserve Release Conditions #2 shall have occurred and the excess funds from the Series 2023 Reserve Account shall have been transferred to the Series 2023 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, and applied in accordance with this Section 4.01(a) or as otherwise provided in Section 4.01(f) hereinbelow. The Trustee shall not be responsible for determining the amounts in the Series 2023 Acquisition and Construction Account and subaccounts allocable to the Series 2023 Project or any transfers made to such Accounts in accordance with direction from the District Manager.

The Trustee shall make no such transfers from the Series 2023 Acquisition and Construction Account to the Series 2023 General Redemption Subaccount if an Event of Default exists with respect to the Series 2023 Bonds of which the Trustee has actual knowledge as described in Section 11.06 of the Master Indenture. Except as provided in Section 5.05 and Section 3.01(b)(iii) hereof, only upon presentment to the Trustee of a properly signed requisition in substantially the form attached hereto as Exhibit C, shall the Trustee withdraw moneys from the Series 2023 Acquisition and Construction Account or subaccounts therein. After no funds remain in the Series 2023 Acquisition and Construction Account, such Account shall be closed.
Pursuant to the Master Indenture, the Trustee shall establish a separate account within the Acquisition and Construction Fund designated as the "Series 2023 Costs of Issuance Account." Net proceeds of the Series 2023 Bonds shall be deposited into the Series 2023 Costs of Issuance Account in the amount set forth in Section 2.06 of this Second Supplemental Trust Indenture. Upon presentment to the Trustee of a properly signed requisition in substantially the form attached hereto as Exhibit C, the Trustee shall withdraw moneys from the Series 2023 Costs of Issuance Account to pay the costs of issuing the Series 2023 Bonds. Six months after the issuance of the Series 2023 Bonds, any moneys remaining in the Series 2023 Costs of Issuance Account in excess of the amounts requested to be disbursed by the Issuer shall be deposited into the Series 2023 Interest Account and the Series 2023 Costs of Issuance Account shall be closed. Any deficiency in the amount allocated to pay the cost of issuing the Series 2023 Bonds shall be paid from excess Series 2023 Pledged Revenues on deposit in the Series 2023 Revenue Account as provided in Section 4.02. After no funds remain therein, the Series 2023 Costs of Issuance Account shall be closed.

Pursuant to Section 6.03 of the Master Indenture, the Trustee shall establish a separate Account within the Revenue Fund designated as the "Series 2023 Revenue Account." Series 2023 Special Assessments (except for Prepayments of Series 2023 Special Assessments which shall be identified as such by the Issuer to the Trustee and deposited in the Series 2023 Prepayment Subaccount) shall be deposited by the Trustee into the Series 2023 Revenue Account which shall be applied as set forth in Section 6.03 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture. The Trustee may conclusively rely that unless expressly indicated in writing by the District as a Prepayment upon deposit thereof with the Trustee, payments of Series 2023 Special Assessments otherwise received by the Trustee are to be deposited into the Series 2023 Revenue Account.

[RESERVED].
Pursuant to Section 6.04 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture, the Trustee shall establish a separate Account within the Debt Service Fund designated as the "Series 2023 Interest Account." Moneys deposited into the Series 2023 Interest Account pursuant to Section 6.04 of the Master Indenture and Sections 2.06 and 4.02 of this Second Supplemental Trust Indenture, shall be applied for the purposes provided therein and used to pay interest on the Series 2023 Bonds.
Pursuant to Section 6.04 of the Master Indenture, the Trustee shall establish a separate account within the Debt Service Fund designated as the "Series 2023 Sinking Fund Account." Moneys shall be deposited into the Series 2023 Sinking Fund Account as provided in Section 6.04 of the Master Indenture and Section 4.02 of this Second Supplemental Trust Indenture, and applied for the purposes provided therein and in Section 3.01(c) of this Second Supplemental Trust Indenture.
Pursuant to Section 6.05 of the Master Indenture, the Trustee shall establish a separate Account within the Debt Service Reserve Fund designated as the "Series 2023 Reserve Account." Net proceeds of the Series 2023 Bonds shall be deposited into the Series 2023 Reserve Account in the amount set forth in Section 2.06 of this Second Supplemental Trust Indenture, and such moneys, together with any other moneys deposited into the Series 2023 Reserve Account
shall be applied for the purposes provided in the Master Indenture Section 4.01(a) and in this Section 4.01(f) and Section 4.05 of this Second Supplemental Trust Indenture. Notwithstanding any provisions in the Master Indenture to the contrary, the Issuer covenants not to substitute the cash and Investment Securities on deposit in the Series 2023 Reserve Account with a Debt Service Reserve Insurance Policy or a Debt Service Reserve Letter of Credit. Except as provided in the next paragraph, all investment earnings on moneys in the Series 2023 Reserve Account shall remain on deposit therein.

On each March 15 and September 15 (or, if such date is not a Business Day, on the Business Day next preceding such day), the Trustee shall determine the amount on deposit in the Series 2023 Reserve Account and transfer any excess therein above the Series 2023 Reserve Requirement resulting from investment earnings to the Series 2023 Revenue Account in accordance with Section 4.02 hereof.

Subject to the provisions of Section 4.05 hereof, on any date the Issuer receives notice from the District Manager that a landowner wishes to prepay its Series 2023 Special Assessments relating to the benefited property of such landowner, or as a result of a mandatory true-up payment, the Issuer shall, or cause the District Manager, on behalf of the Issuer, to calculate the principal amount of such Prepayment taking into account a credit against the amount of Series 2023 Prepayment Principal due by the amount of money in the Series 2023 Reserve Account that will exceed the Series 2023 Reserve Requirement for the Series 2023 Bonds, taking into account the proposed Prepayment. Such excess shall be transferred to the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account, as a result of such Prepayment. The District Manager, on behalf of the Issuer, shall make such calculation within ten (10) Business Days after such Prepayment and shall instruct the Trustee in writing to transfer such amount of credit given to the respective landowner from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account to be used for the extraordinary mandatory redemption of the Series 2023 Bonds in accordance with Section 3.01(b)(i) hereof. The Trustee is authorized to make such transfers and has no duty to verify such calculations. Notwithstanding any of the foregoing, amounts on deposit in the Series 2023 Reserve Account shall be transferred by the Trustee, in the amounts directed in writing by the Majority Holders of the Series 2023 Bonds to the Series 2023 General Redemption Subaccount, if as a result of the application of Article X of the Master Indenture, the proceeds received from lands sold subject to the Series 2023 Special Assessments and applied to redeem a portion of the Series 2023 Bonds is less than the principal amount of Series 2023 Bonds indebtedness attributable to such lands.

Notwithstanding the foregoing, upon satisfaction of the Reserve Release Conditions #2, the Trustee shall deposit such excess as directed by the District Manager in writing on deposit in the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account and pay such amount as designated in a requisition in the form attached hereto as Exhibit C to the Issuer submitted by the Series 2023 Landowner within thirty (30) days of such transfer which requisition shall be executed by the Issuer and the Consulting Engineer. Such payment is authorized notwithstanding that the Completion Date might have been declared provided the Series 2023 Landowner can establish, to the satisfaction of the Consulting Engineer, Costs of the Series 2023 Project that were not paid from moneys initially deposited in the Series 2023 Acquisition and Construction Account. In the event that there are no unreimbursed Costs to pay to the Series 2023
Landowner, such excess moneys transferred from the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account shall be deposited into the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account upon direction to the Trustee by the District. If no completed requisition as provided in this section is submitted to the Trustee within thirty (30) days of moneys having been transferred from the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account as a result of the satisfaction of the Reserve Release Conditions #2, such excess moneys in the Series 2023 Acquisition and Construction Account shall then be transferred by the Trustee to the Series 2023 General Redemption Subaccount and applied to the redemption of Series 2023 Bonds as provided in Section 4.01(a) hereinabove.

In addition, and together with the moneys transferred from the Series 2023 Reserve Account pursuant to this paragraph, if the amount on deposit in the Series 2023 General Redemption Subaccount, is not sufficient to redeem a principal amount of the Series 2023 Bonds in an Authorized Denomination, the Trustee is authorized to withdraw amounts from the Series 2023 Revenue Account to round up the amount in the Series 2023 General Redemption Subaccount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2023 Revenue Account shall be made to pay interest on and/or principal of the Series 2023 Bonds for the redemption pursuant to Section 3.01(b)(iii) if as a result the deposits required under Section 4.02 FIRST through FIFTH cannot be made in full.

Pursuant to Section 6.06 of the Master Indenture, the Trustee shall establish a separate Series Bond Redemption Account within the Bond Redemption Fund designated as the "Series 2023 Bond Redemption Account" and within such Account, a "Series 2023 General Redemption Subaccount," a "Series 2023 Optional Redemption Subaccount," and a "Series 2023 Prepayment Subaccount." Except as otherwise provided in this Second Supplemental Trust Indenture regarding Prepayments or in connection with the optional redemption of the Series 2023 Bonds, moneys to be deposited into the Series 2023 Bond Redemption Account as provided in Section 6.06 of the Master Indenture, shall be deposited to the Series 2023 General Redemption Subaccount.

Moneys that are deposited into the Series 2023 General Redemption Subaccount (including all earnings on investments held therein) shall be used to call for the extraordinary mandatory redemption (i) in whole, pursuant to Section 3.01(b)(ii) hereof, the Outstanding amount of Series 2023 Bonds, or (ii) in whole or in part, pursuant to Sections 3.01(b)(iii) hereof.

Moneys in the Series 2023 Prepayment Subaccount (including all earnings on investments held in such Series 2023 Prepayment Subaccount) shall be accumulated therein to be used to call for redemption pursuant to Section 3.01(b)(i) hereof an amount of Series 2023 Bonds equal to the amount of money transferred to the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account for the purpose of such extraordinary mandatory redemption on the dates and at the price provided in such Section 3.01(b)(i) hereof. In addition, and together with the moneys transferred from the Series 2023 Reserve Account pursuant to paragraph (f) above, if the amount on deposit in the Series 2023 Prepayment Subaccount is not sufficient to redeem a principal amount of the Series 2023 Bonds in an Authorized Denomination, the Trustee upon written direction from the Issuer, shall be authorized to withdraw amounts from
the Series 2023 Revenue Account to deposit to the Series 2023 Prepayment Subaccount to round- up the amount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2023 Revenue Account shall be directed by the Issuer to pay interest on and/or principal of the Series 2023 Bonds for the redemption pursuant to Section 3.01(b)(i) if as a result the deposits required under Section 4.02 FIRST through FIFTH cannot be made in full.

The Issuer hereby directs the Trustee to establish a separate account in the Rebate Fund designated as the "Series 2023 Rebate Account." Moneys shall be deposited into the Series 2023 Rebate Account, as provided in the Arbitrage Certificate and applied for the purposes provided therein.
Moneys on deposit in the Series 2023 Optional Redemption Subaccount shall be used to optionally redeem all or a portion of the Series 2023 Bonds pursuant to Section 3.01(a) hereof.

SECTION 4.02.  Series 2023 Revenue Account. The Trustee shall transfer from amounts on deposit in the Series 2023 Revenue Account to the Funds and Accounts designated below, the following amounts, at the following times and in the following order of priority:
FIRST, upon receipt but no later than the Business Day next preceding each Interest Payment Date, commencing November 1, 2023, to the Series 2023 Interest Account of the Debt Service Fund, an amount equal to the interest on the Series 2023 Bonds becoming due on the next succeeding Interest Payment Date, less any amount on deposit in the Series 2023 Interest Account not previously credited;

SECOND, no later than the Business Day next preceding each May 1, commencing May 1, 2024, to the Series 2023 Sinking Fund Account, an amount equal to the principal amount of Series 2023 Bonds subject to sinking fund redemption on such May 1, less any amount on deposit in the Series 2023 Sinking Fund Account not previously credited;

THIRD, upon receipt but no later than the Business Day next preceding each Interest Payment Date while Series 2023 Bonds remain Outstanding, to the Series 2023 Reserve Account, an amount equal to the amount, if any, which is necessary to make the amount on deposit therein equal to the Reserve Requirement for the Series 2023 Bonds;

FOURTH, notwithstanding the foregoing, at any time the Series 2023 Bonds are subject to redemption on a date which is not a May 1 or November 1 Interest Payment Date, the Trustee shall be authorized to transfer to the Series 2023 Interest Account, the amount necessary to pay interest on the Series 2023 Bonds subject to redemption on such date; and

FIFTH, subject to the foregoing paragraphs, the balance of any moneys remaining after making the foregoing deposits shall be first deposited into the Series 2023 Costs of Issuance Account upon the written request of the Issuer to cover any deficiencies in the amount allocated to pay the cost of issuing the Series 2023 Bonds and next, any balance in the Series 2023 Revenue Account shall remain on deposit in such Series 2023 Revenue Account, unless needed to be transferred to the Series 2023 Prepayment Subaccount for the purposes of rounding the principal amount of a Series 2023 Bond subject to
extraordinary mandatory redemption pursuant to Sections 4.01(f) or 4.01(i) hereof to an Authorized Denomination, or unless pursuant to the Arbitrage Certificate, it is necessary to make a deposit into the Series 2023 Rebate Fund, in which case, the Issuer shall direct the Trustee to make such deposit thereto.

In addition to a redemption of Series 2023 Bonds from Prepayments on deposit in the Series 2023 Prepayment Subaccount, the Trustee is further authorized, upon written direction from the Issuer, to transfer from the Series 2023 Revenue Account to the Series 2023 General Redemption Subaccount sufficient funds to cause the redemption of the next closest Authorized Denomination of Series 2023 Bonds, as provided in Section 4.01(f) hereof.

SECTION 4.03.   Power to Issue Series 2023 Bonds and Create Lien. The Issuer is duly authorized under the Act and all applicable laws of the State to issue the Series 2023 Bonds, to execute and deliver the Series 2023 Indenture and to pledge the Series 2023 Pledged Revenues for the benefit of the Series 2023 Bonds to the extent set forth herein. The Series 2023 Pledged Revenues are not and shall not be subject to any other lien senior to or on a parity with the lien created in favor of the Series 2023 Bonds, except as otherwise permitted under the Master Indenture and in Section 5.04 hereof. The Series 2023 Bonds and the provisions of the Series 2023 Indenture are and will be valid and legally enforceable obligations of the Issuer in accordance with their respective terms. The Issuer shall, at all times, to the extent permitted by law and without waiving any sovereign immunity or limitation of liability afforded by Section 768.28, Florida Statutes, or other law, defend, preserve and protect the pledge created by the Series 2023 Indenture and all the rights of the Holders of the Series 2023 Bonds under the Series 2023 Indenture against all claims and demands of all persons whomsoever.

SECTION 4.04.  Series 2023 Project to Conform to Engineer's Report. Simultaneously with the issuance of the Series 2023 Bonds, the Issuer will promptly proceed to construct and/or acquire the Series 2023 Project, as described in Exhibit A hereto and in the Engineer's Report relating thereto, all pursuant to the terms and provisions of the Acquisition Agreement.

SECTION 4.05.    Prepayments; Removal of Series 2023 Special Assessment Liens.

At any time any owner of property subject to the Series 2023 Special Assessments may, at its option, or as a result of acceleration of the Series 2023 Special Assessments because of non-payment thereof, shall, or by operation of law, require the Issuer to reduce or release and extinguish the lien upon its property by virtue of the levy of the Series 2023 Special Assessments by paying or causing there to be paid, to the Issuer all or a portion of the Series 2023 Special Assessment, which shall constitute Series 2023 Prepayment Principal, plus, except as provided below, accrued interest to the next succeeding Quarterly Redemption Date (or the first succeeding Quarterly Redemption Date that is at least forty-five (45) days after such Prepayment, if such Prepayment is made within forty-five (45) calendar days before the next succeeding Quarterly Redemption Date, as the case may be), attributable to the property subject to Series 2023 Special Assessments owned by such owner. To the extent that such Prepayments are to be used to redeem Series 2023 Bonds pursuant to Section 3.01(b)(i) hereof, in the event the amount on deposit in the Series 2023 Reserve Account will exceed the Series 2023 Reserve Requirement for the Series 2023 Bonds as a result of a Prepayment in accordance with this Section
4.05(a) and the resulting extraordinary mandatory redemption in accordance with Section 3.01(b)(i) of this Second Supplemental Trust Indenture of Series 2023 Bonds, the excess amount shall be transferred from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount, as a credit against the Series 2023 Prepayment Principal otherwise required to be paid by the owner of such lot or parcel, upon written instructions of the Issuer to the Trustee together with a certificate of a Responsible Officer of the Issuer, upon which the Trustee may conclusively rely, stating that, after giving effect to such transfers sufficient moneys will be on deposit in the Series 2023 Reserve Account to equal or exceed the Series 2023 Reserve Requirement.

Upon receipt of Series 2023 Prepayment Principal as described in paragraph
(a) above, subject to satisfaction of the conditions set forth therein, the Issuer shall immediately pay the amount so received to the Trustee, and the Issuer shall take such action as is necessary to record in the official improvement lien book of the District that the Series 2023 Special Assessment has been paid in whole or in part and that such Series 2023 Special Assessment lien is thereby reduced, or released and extinguished, as the case may be.

The Trustee may conclusively rely on the Issuer's determination of what moneys constitute Prepayments. The Trustee shall calculate the amount available for the extraordinary mandatory redemption of the applicable Series 2023 Bonds pursuant to Section 3.01(b)(i) forty- five (45) days prior to each Quarterly Redemption Date.

[END OF ARTICLE IV]
ARTICLE V
COVENANTS AND DESIGNATIONS OF THE ISSUER

SECTION 5.01.  Collection of Series 2023 Special Assessments. The Series 2023 Special Assessments levied for each full year on platted lots shall be collected pursuant to the uniform method provided for in Sections 197.3632 and 197.3635 Florida Statutes, (the "Uniform Method") unless the District determines that it is in its best interests to collect directly. The Series 2023 Special Assessments levied on unplatted lots or lands shall be billed and collected directly by the District pursuant to the Act and Chapters 170 and 197, Florida Statutes, and not pursuant to the Uniform Method unless the District determines that it is in its best interests to do so. Prior to an Event of Default, the election to collect and enforce Series 2023 Special Assessments in any year pursuant to any one method shall not, to the extent permitted by law, preclude the District from electing to collect and enforce Series 2023 Special Assessments pursuant to any other method permitted by law in any subsequent year. Following an Event of Default, Series 2023 Special Assessments levied on platted lots shall be collected pursuant to the Uniform Method and Series 2023 Special Assessments levied on unplatted lots or lands shall be billed and collected directly by the District pursuant to the Act and Chapters 170 and 197, Florida Statutes, and not pursuant to the Uniform Method, in each case unless the Trustee, acting at the direction of the Majority Holders of the Series 2023 Bonds Outstanding, provides written consent/direction to a different method of collection. All Series 2023 Special Assessments that are billed and collected directly by the District and not via the Uniform Method shall be due and payable by the landowner no later than thirty (30) days prior to each Interest Payment Date; provided, however, that such Series 2023 Special Assessments shall not be deemed to be delinquent unless and until they are not paid by the applicable Interest Payment Date with respect to which they have been billed. The applicable assessment methodology report shall not be materially amended without the written consent of the Majority Holders, which consent shall be deemed given if no response is received within sixty (60) days of a written request therefor.

SECTION 5.02.  Continuing Disclosure. Contemporaneously with the execution and delivery hereof, the Issuer and the Series 2023 Landowner have executed and delivered a Continuing Disclosure Agreement in order to assist the Underwriter in complying with the requirements of Rule 15c2-12 promulgated under the Securities and Exchange Act of 1934. The Issuer covenants and agrees to comply with the provisions of the Continuing Disclosure Agreement applicable to it; however, as set forth therein, failure to so comply shall not constitute an Event of Default hereunder, but shall instead be enforceable by mandamus or any other means of specific performance.

SECTION 5.03.   Investment of Funds and Accounts. The provisions of Section 7.02 of the Master Indenture shall apply to the investment and reinvestment of moneys in the Funds, Accounts and subaccounts therein created hereunder.
SECTION 5.04.  Additional Bonds. The Issuer covenants not to issue any other Bonds or other debt obligations secured by the Series 2023 Special Assessments. In addition, the Issuer covenants not to issue any other Bonds or debt obligations for capital projects, secured by Special Assessments on the assessable lands within the District that are subject to the Series 2023 Special Assessments, until the Series 2023 Special Assessments are Substantially Absorbed. The District shall present the Trustee with a certification that the Series 2023 Special Assessments are
Substantially Absorbed and the Trustee may rely conclusively upon such certification and shall have no duty to verify if the Series 2023 Special Assessments are Substantially Absorbed. In the absence of such written certification, the Trustee is entitled to assume that the Series 2023 Special Assessments have not been Substantially Absorbed. Such covenant shall not prohibit the Issuer from issuing refunding Bonds or any Bonds or other obligations secured by Special Assessments levied on District Lands outside of the Series 2023 Assessment Area, or to finance any other capital project that is necessary to remediate any natural disaster, catastrophic damage or failure with respect to the Series 2023 Project.

SECTION 5.05. Acknowledgement Regarding the Moneys in the Series 2023 Acquisition and Construction Account Following an Event of Default. In accordance with the provisions of the Series 2023 Indenture, the Series 2023 Bonds are payable solely from the Series 2023 Pledged Revenues and any other moneys held by the Trustee under the Series 2023 Indenture for such purpose. Anything in the Series 2023 Indenture to the contrary notwithstanding, the Issuer hereby acknowledges that the Series 2023 Pledged Revenues include, without limitation, all amounts on deposit in the Series 2023 Acquisition and Construction Account then held by the Trustee, and upon the occurrence of an Event of Default with respect to the Series 2023 Bonds,
(i) the Series 2023 Pledged Revenues may not be used by the Issuer (whether to pay costs of the Series 2023 Project or otherwise) without the consent of the Majority Holders and (ii) the Series 2023 Pledged Revenues may be used by the Trustee, at the direction or with the approval of the Majority Holders, to pay costs and expenses incurred in connection with the pursuit of remedies under the Series 2023 Indenture, provided, however notwithstanding anything herein to the contrary the Trustee is also authorized to utilize the Series 2023 Pledged Revenues to pay fees and expenses as provided in Section 10.12 of the Master Indenture.

[END OF ARTICLE V]
ARTICLE VI
THE TRUSTEE; THE PAYING AGENT AND REGISTRAR

SECTION 6.01.  Acceptance of Trust. The Trustee accepts and agrees to execute the trusts hereby created and agrees to perform such trusts upon the terms and conditions set forth in the Series 2023 Indenture. The Trustee agrees to act as Paying Agent, Registrar and Authenticating Agent for the Series 2023 Bonds.

SECTION 6.02.  Trustee's Duties. The Trustee shall not be responsible in any manner for the due execution of this Second Supplemental Trust Indenture by the Issuer or for the recitals contained herein (except for the certificate of authentication on the Series 2023 Bonds), all of which are made solely by the Issuer. Nothing contained herein shall limit the rights, benefits, privileges, protection and entitlement inuring to the Trustee under the Master Indenture.

[END OF ARTICLE VI]
ARTICLE VII EVENT OF DEFAULT

SECTION 7.01.  Event of Default Defined. For purposes of the Series 2023 Bonds only, Section 10.02(g) of the Master Indenture shall not apply and instead, the following shall be an "Event of Default" under the Assessment Area Two Indenture: if at any time the amount in the Assessment Area Two Reserve Account is less than the Assessment Area Two Reserve Requirement as a result of the Trustee withdrawing an amount therefrom to pay debt service on the Series 2023 Bonds and such amount has not been restored within thirty (30) days of such withdrawal.

[END OF ARTICLE VII]
ARTICLE VIII MISCELLANEOUS PROVISIONS

SECTION 8.01.  Interpretation of Second Supplemental Trust Indenture. This Second Supplemental Trust Indenture amends and supplements the Master Indenture with respect to the Series 2023 Bonds, and all of the provisions of the Master Indenture, to the extent not inconsistent herewith, are incorporated in this Second Supplemental Trust Indenture by reference. To the maximum extent possible, the Master Indenture and the Second Supplemental Trust Indenture shall be read and construed as one document.

SECTION 8.02.  Amendments. Any amendments to this Second Supplemental Trust Indenture shall be made pursuant to the provisions for amendment contained in the Master Indenture.
SECTION 8.03.  Counterparts. This Second Supplemental Trust Indenture may be executed in any number of counterparts, each of which when so executed and delivered shall be an original; but such counterparts shall together constitute but one and the same instrument.

SECTION 8.04.  Appendices and Exhibits. Any and all schedules, appendices or exhibits referred to in and attached to this Second Supplemental Trust Indenture are hereby incorporated herein and made a part of this Second Supplemental Trust Indenture for all purposes.
SECTION 8.05.   Payment Dates. In any case in which an Interest Payment Date or the maturity date of the Series 2023 Bonds or the date fixed for the redemption of any Series 2023 Bonds shall be other than a Business Day, then payment of interest, principal or Redemption Price need not be made on such date but may be made on the next succeeding Business Day, with the same force and effect as if made on the due date, and no interest on such payment shall accrue for the period after such due date if payment is made on such next succeeding Business Day.
SECTION 8.06.  No Rights Conferred on Others. Nothing herein contained shall confer any right upon any Person other than the parties hereto and the Holders of the Series 2023 Bonds, and no other person is intended to be a third party beneficiary hereof to be entitled to assert or preserve any claim hereunder.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK – SIGNATURE PAGE FOLLOWS]
IN WITNESS WHEREOF, Scenic Terrace South Community Development District has caused this Second Supplemental Trust Indenture to be executed by the Vice Chairperson of its Board of Supervisors and its corporate seal to be hereunto affixed and attested by the Secretary of its Board of Supervisors and U.S. Bank Trust Company, National Association has caused this Second Supplemental Trust Indenture to be executed by one of its authorized signatories, all as of the day and year first above written.

[SEAL]

Attest:

By: 	
Name: Jill Burns
Title:	Secretary, Board of Supervisors
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By: 	
Name: Lauren O. Schwenk
Title:	Chairperson, Board of Supervisors

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,
as Trustee, Paying Agent and Registrar

By: 	
Name: Stacey L. Johnson Title:	Vice President
EXHIBIT A DESCRIPTION OF SERIES 2023 PROJECT

The Series 2023 Project includes, but is not limited to, the following improvements identified for Phase 4, comprising the Series 2023 Assessment Area:

Source: Scenic Terrace South Community Development District Engineer's Report – Amended and Restated dated August 14, 2023, prepared by Dewberry Engineers Inc.
EXHIBIT B

[FORM OF SERIES 2023 BOND]

R-_	$	

UNITED STATES OF AMERICA STATE OF FLORIDA

TOWN OF LAKE HAMILTON, FLORIDA
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BOND, SERIES 2023

Interest Rate	Maturity Date	Date of Original Issuance	CUSIP	
	%	May 1, 20 		   , 2023	

Registered Owner: CEDE & CO. Principal Amount:
KNOW ALL PERSONS BY THESE PRESENTS that the Scenic Terrace South Community Development District (the "Issuer"), for value received, hereby promises to pay to the Registered Owner shown above or registered assigns, on the maturity date set forth above, from the sources hereinafter mentioned, the principal amount set forth above (with interest thereon at the interest rate per annum set forth above, computed on 360-day year of twelve 30-day months). Principal of and interest on this Bond are payable by U.S. Bank Trust Company, National Association, in Fort Lauderdale, Florida, as paying agent (said U.S. Bank Trust Company, National Association and/or any bank or trust company to become successor paying agent being herein called the "Paying Agent") made payable to the Registered Owner and mailed on each Interest Payment Date commencing November 1, 2023, to the address of the Registered Owner as such name and address shall appear on the registry books of the Issuer maintained by U.S. Bank Trust Company, National Association, as Registrar (said U.S. Bank Trust Company, National Association and any successor Registrar being herein called the "Registrar") at the close of business on the fifteenth day of the calendar month preceding each Interest Payment Date or the date on which the principal of a Bond is to be paid (the "Record Date"), provided however presentation is not required for payment while the Series 2023 Bonds are registered in book-entry only form. Such interest shall be payable from the most recent Interest Payment Date next preceding the date of authentication hereof to which interest has been paid, unless the date of authentication hereof is a May 1 or November 1 to which interest has been paid, in which case from the date of authentication hereof, or unless such date of authentication is prior to November 1, 2023, in which case from the date of initial delivery, or unless the date of authentication hereof is between a Record Date and the next succeeding Interest Payment Date, in which case from such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Registered Owner on such Record Date and may be paid to the person in whose name this Bond is registered at the close of business on a Special Record Date
for the payment of such defaulted interest to be fixed by the Paying Agent, notice whereof shall be given to Bondholders of record as of the fifth (5th) day prior to such mailing, at their registered addresses, not less than ten (10) days prior to such Special Record Date, or may be paid, at any time in any other lawful manner, as more fully provided in the Series 2023 Indenture (defined below). Any capitalized term used in this Bond and not otherwise defined shall have the meaning ascribed to such term in the Series 2023 Indenture.

THE SERIES 2023 BONDS ARE LIMITED OBLIGATIONS OF THE ISSUER PAYABLE SOLELY OUT OF THE SERIES 2023 PLEDGED REVENUES PLEDGED THEREFOR UNDER THE SERIES 2023 INDENTURE AND NEITHER THE PROPERTY, THE FULL FAITH AND CREDIT, NOR THE TAXING POWER OF THE ISSUER, THE TOWN OF LAKE HAMILTON, FLORIDA (THE "TOWN"), POLK COUNTY, FLORIDA (THE "COUNTY"), THE STATE OF FLORIDA (THE "STATE"), OR ANY OTHER POLITICAL SUBDIVISION THEREOF, IS PLEDGED AS SECURITY FOR THE PAYMENT OF THE SERIES 2023 BONDS, EXCEPT THAT THE ISSUER IS OBLIGATED UNDER THE SERIES 2023 INDENTURE TO LEVY AND TO EVIDENCE AND CERTIFY, OR CAUSE TO BE CERTIFIED, FOR COLLECTION, SERIES 2023 SPECIAL ASSESSMENTS (AS DEFINED IN THE SERIES 2023 INDENTURE) TO SECURE AND PAY THE SERIES 2023 BONDS. THE SERIES 2023 BONDS DO NOT CONSTITUTE AN INDEBTEDNESS OF THE ISSUER, THE TOWN, THE COUNTY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION.

This Bond is one of an authorized issue of Series 2023 Bonds of the Scenic Terrace South Community Development District, a community development district duly created, organized and existing under Chapter 190, Florida Statutes (the Uniform Community Development District Act of 1980), as amended (the "Act"), Ordinance No. O-21-19 enacted by the Town Council of the Town on October 5, 2021 as amended by Ordinance No. O-23-05 enacted by the Town Council of the Town on May 2, 2023, designated as "Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023" (the "Series 2023 Bonds"), in the aggregate principal amount of 	 and 00/100 Dollars ($	) of like date, tenor and effect, except as to number. The Series 2023 Bonds are being issued under authority of the laws and Constitution of the State, including particularly the Act, to pay, among other things, the costs of constructing and/or acquiring a portion of the Series 2023 Project (as defined in the herein referred to Series 2023 Indenture). The Series 2023 Bonds shall be issued as fully registered Series 2023 Bonds in Authorized Denominations, as set forth in the Series 2023 Indenture. The Series 2023 Bonds are issued under and secured by a Master Trust Indenture dated as of April 1, 2022 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture dated as of
	 1, 2023 (the "Second Supplemental Trust Indenture" and together with the Master Indenture, the "Series 2023 Indenture"), each by and between the Issuer and the Trustee, executed counterparts of which are on file at the designated corporate trust office of the Trustee in Fort Lauderdale, Florida.

Reference is hereby made to the Series 2023 Indenture for the provisions, among others, with respect to the custody and application of the proceeds of the Series 2023 Bonds issued under the Series 2023 Indenture, the operation and application of the Series 2023 Reserve Account within the Debt Service Reserve Fund and other Funds and Accounts (each as defined in the Series 2023
Indenture) charged with and pledged to the payment of the principal of and the interest on the Series 2023 Bonds, the levy and the evidencing and certifying for collection, of the Series 2023 Special Assessments, the nature and extent of the security for the Series 2023 Bonds, the terms and conditions on which the Series 2023 Bonds are issued, the rights, duties and obligations of the Issuer and of the Trustee under the Series 2023 Indenture, the conditions under which such Series 2023 Indenture may be amended without the consent of the Registered Owners of the Series 2023 Bonds, the conditions under which such Series 2023 Indenture may be amended with the consent of the Registered Owners of a majority in aggregate principal amount of the Series 2023 Bonds outstanding, and as to other rights and remedies of the Registered Owners of the Series 2023 Bonds.

It is expressly agreed by the Registered Owner of this Bond that such Registered Owner shall never have the right to require or compel the exercise of the ad valorem taxing power of the Issuer, the Town, the County, the State or any other political subdivision thereof, or taxation in any form of any real or personal property of the Issuer, the Town, the County, the State or any other political subdivision thereof, for the payment of the principal of and interest on this Bond or the making of any other sinking fund and other payments provided for in the Series 2023 Indenture, except for Series 2023 Special Assessments to be assessed and levied by the Issuer as set forth in the Series 2023 Indenture.

By the acceptance of this Bond, the Registered Owner hereof assents to all the provisions of the Series 2023 Indenture.

This Bond is payable from and secured by Series 2023 Pledged Revenues, as such term is defined in the Series 2023 Indenture, all in the manner provided in the Series 2023 Indenture. The Series 2023 Indenture provides for the levy and the evidencing and certifying, of non-ad valorem assessments in the form of Series 2023 Special Assessments to secure and pay the Series 2023 Bonds.

The Series 2023 Bonds are subject to redemption prior to maturity in the amounts, at the times and in the manner provided below. All payments of the redemption price of the Series 2023 Bonds shall be made on the dates specified below. Upon any redemption of Series 2023 Bonds other than in accordance with scheduled mandatory sinking fund redemption, the Issuer shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2023 Bonds in substantially equal annual installments of principal and interest (subject to rounding to Authorized Denominations of principal) over the remaining term of the Series 2023 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2023 Bonds in any year. In the event of a redemption or purchase occurring less than forty-five (45) days prior to a date on which a mandatory sinking fund redemption payment is due, the foregoing recalculation shall not be made to the mandatory sinking fund redemption amounts due in the year in which such redemption or purchase occurs, but shall be made to the mandatory sinking fund redemption amounts for the immediately succeeding and subsequent years.
Optional Redemption
The Series 2023 Bonds maturing after May 1, 20  may, at the option of the Issuer be called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20  (less than all Series 2023 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2023 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2023 Optional Redemption Subaccount of the Series 2023 Bond Redemption Account. If such optional redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Extraordinary Mandatory Redemption in Whole or in Part
The Series 2023 Bonds are subject to extraordinary mandatory redemption prior to maturity by the Issuer in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2023 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:

from Series 2023 Prepayment Principal deposited into the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account following the payment in whole or in part of Series 2023 Special Assessments on any assessable property within the District in accordance with the provisions of Section 4.05(a) of the Second Supplemental Trust Indenture, together with any excess moneys transferred by the Trustee from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount as a result of such Series 2023 Prepayment and pursuant to Sections 4.01(f) and 4.05(a) of the Second Supplemental Trust Indenture. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee under the Second Supplemental Trust Indenture (other than the Series 2023 Rebate Fund and the Series 2023 Acquisition and Construction Account) sufficient to pay and redeem all Outstanding Series 2023 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture.

upon the Completion Date, from any funds remaining on deposit in the Series 2023 Acquisition and Construction Account in accordance with the provisions of the Second Supplemental Trust Indenture, not otherwise reserved to complete the Series 2023 Project and transferred to the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account, together with moneys deposited therein in accordance with the provisions of the Second Supplemental Trust Indenture, as a result of the reduction of the Series 2023 Reserve Requirement. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be redeemed from
each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Mandatory Sinking Fund Redemption
The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount

* Maturity.
The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking
fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount

* Maturity.
The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount

* Maturity.
The Series 2023 Bonds maturing on May 1, 20  are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.
Mandatory Sinking Fund
	Year	 	Redemption Amount	

* Maturity.

Except as otherwise provided in the Series 2023 Indenture, if less than all of the Series 2023 Bonds subject to redemption shall be called for redemption, the particular such Series 2023 Bonds or portions of such Series 2023 Bonds to be redeemed shall be selected by lot by the Registrar as provided in the Series 2023 Indenture.

Notice of each redemption of the Series 2023 Bonds is required to be sent by Electronic Means or mailed by the Registrar, postage prepaid, not less than thirty (30) nor more than sixty
(60) days prior to the redemption date to each Registered Owner of the Series 2023 Bonds to be redeemed at the address of such Registered Owner recorded on the bond register maintained by the Registrar. The Issuer may provide that the any optional redemption of Series 2023 Bonds
issued under the Series 2023 Indenture may be subject to certain conditions; provided that the notice of such conditional optional redemption must expressly state that such optional redemption is conditional and describe the conditions for such redemption. On the date designated for redemption, notice having been given and money for the payment of the Redemption Price being held by the Paying Agent, all as provided in the Series 2023 Indenture, the Series 2023 Bonds or such portions thereof so called for redemption shall become and be due and payable at the Redemption Price provided for the redemption of such Series 2023 Bonds or such portions thereof on such date, interest on such Series 2023 Bonds or such portions thereof so called for redemption shall cease to accrue, such Series 2023 Bonds or such portions thereof so called for redemption shall cease to be entitled to any benefit or security under the Series 2023 Indenture and the Registered Owners thereof shall have no rights in respect of such Series 2023 Bonds or such portions thereof so called for redemption except to receive payments of the Redemption Price thereof so held by the Paying Agent. Further notice of redemption shall be given by the Registrar to certain registered securities depositories and information services as set forth in the Series 2023 Indenture, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above prescribed.

The Registered Owner of this Bond shall have no right to enforce the provisions of the Series 2023 Indenture or to institute action to enforce the covenants therein, or to take any action with respect to any Event of Default under the Series 2023 Indenture, or to institute, appear in or defend any suit or other proceeding with respect thereto, except as provided in the Series 2023 Indenture.

In certain events, on the conditions, in the manner and with the effect set forth in the Series 2023 Indenture, the principal of all the Series 2023 Bonds then Outstanding under the Series 2023 Indenture may become and may be declared due and payable before the stated maturity thereof, with the interest accrued thereon.

Modifications or alterations of the Series 2023 Indenture or of any Series 2023 Indenture supplemental thereto may be made only to the extent and in the circumstances permitted by the Series 2023 Indenture.
Any moneys held by the Trustee or Paying Agent in trust for the payment and discharge of any Bond which remain unclaimed for two (2) years after the date when such Bond has become due and payable, either at its stated maturity date or by call for earlier redemption shall be paid to the Issuer, thereupon and thereafter no claimant shall have any rights against the Trustee or Paying Agent to or in respect of such moneys.

If the Issuer deposits or causes to be deposited with the Trustee funds or Government Obligations (as defined in the Master Indenture) sufficient to pay the principal or Redemption Price of any Series 2023 Bond becoming due at maturity or by call for redemption in the manner set forth in the Series 2023 Indenture, together with the interest accrued to the due date or date of redemption as applicable, the lien of such Series 2023 Bonds as to the trust estate with respect to the Series 2023 Bonds shall be discharged, except for the rights of the Registered Owners thereof with respect to the funds so deposited as provided in the Series 2023 Indenture.
This Bond shall have all the qualities and incidents, including negotiability, of investment securities within the meaning and for all the purposes of the Uniform Commercial Code of the State.

This Bond shall initially be issued in the name of Cede & Co. as nominee for DTC, and so long as this Bond is held in book-entry-only form Cede & Co. shall be considered the Registered Owner for all purposes hereof, including the payment of the principal of and interest on this Bond. Payment to DTC Participants shall be the responsibility of DTC. Payments by DTC Participants to Indirect Participants, and by DTC Participants and Indirect Participants to individual Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Issuer or the Trustee.

The Issuer shall keep books for the registration of the Series 2023 Bonds at the designated corporate trust office of the Registrar in Fort Lauderdale, Florida. Subject to the restrictions contained in the Series 2023 Indenture, and except when the Series 2023 Bonds are registered in book entry only form, the Series 2023 Bonds may be transferred or exchanged by the Registered Owner thereof in person or by his attorney duly authorized in writing only upon the books of the Issuer kept by the Registrar and only upon surrender thereof together with a written instrument of transfer satisfactory to the Registrar duly executed by the Registered Owner or his duly authorized attorney. In all cases in which the privilege of transferring or exchanging Series 2023 Bonds is exercised, the Issuer shall execute and the Trustee shall authenticate and deliver a new Bond or Series 2023 Bonds in authorized form and in like aggregate principal amount in accordance with the provisions of the Series 2023 Indenture. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Trustee, Paying Agent or the Registrar, duly executed by the Bondholder or his attorney duly authorized in writing. Transfers and exchanges shall be made without charge to the Bondholder, except that the Issuer or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer or exchange of Series 2023 Bonds. Neither the Issuer nor the Registrar on behalf of the Issuer shall be required (i) to issue, transfer or exchange any Series 2023 Bond during a period beginning at the opening of fifteen (15) days before the day of mailing of a notice of redemption of Series 2023 Bonds selected for redemption and ending at the close of business on the day of such mailing, or
(ii) to transfer or exchange any Series 2023 Bond so selected for redemption in whole or in part.
The Issuer, the Trustee, the Paying Agent and the Registrar shall deem and treat the person in whose name any Bond shall be registered upon the books kept by the Registrar as the absolute owner thereof (whether or not such Bond shall be overdue, and notwithstanding any notation of ownership or other writing thereon made by anyone other than the Issuer, the Trustee, any Paying Agent, the Registrar or the Authenticating Agent) for the purpose of receiving payment of or on account of the principal of, premium, if any, and interest on such Bond as the same becomes due, and for all other purposes. All such payments so made to any such Registered Owner or upon his order shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid, and neither the Issuer, the Trustee, the Paying Agent, nor the Registrar shall be affected by any notice to the contrary.

It is hereby certified and recited that all acts, conditions and things required to exist, to happen, and to be performed, precedent to and in the issuance of this Bond exist, have happened
and have been performed in regular and due form and time as required by the laws and Constitution of the State of Florida applicable thereto, including particularly the Act, and that the issuance of this Bond, and of the issue of the Series 2023 Bonds of which this Bond is one, is in full compliance with all constitutional and statutory limitations or provisions.

This Bond shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Series 2023 Indenture until it shall have been authenticated by execution of the Trustee, or such other authenticating agent as may be appointed by the Trustee under the Series 2023 Indenture, of the certificate of authentication endorsed hereon.

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FOLLOWS]
IN WITNESS WHEREOF, Scenic Terrace South Community Development District has caused this Bond to be signed by the manual signature of the Chairperson of its Board of Supervisors and a manual seal to be imprinted hereon, and attested by the manual signature of the Secretary of its Board of Supervisors, all as of the date hereof.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

(SEAL)

Attest:

By: 	
Secretary, Board of Supervisors

By: 	
Chairperson, Board of Supervisors
CERTIFICATE OF AUTHENTICATION

This Bond is one of the Series 2023 Bonds delivered pursuant to the within mentioned Series 2023 Indenture.

Date of Authentication: 	   , 2023

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,
as Trustee

By: 	
Authorized Signatory
STATEMENT OF VALIDATION
This Bond is one of a series of Bonds which were validated by judgment of the Circuit Court of the Tenth Judicial Circuit of Florida, in and for Hardee, Highlands and Polk Counties, rendered on the 10th day of January, 2022.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

(SEAL)

Attest:

By: 	
Secretary, Board of Supervisors
By: 	
Chairperson, Board of Supervisors
ABBREVIATIONS
The following abbreviations, when used in the inscription on the face of the within Bond, shall be construed as though they were written out in full according to applicable laws or regulations:

TEN COM	-	as tenants in common TEN ENT	-	as tenants by the entireties
JT TEN	-	as joint tenants with rights of survivorship and not as tenants in common

UNIFORM TRANSFER MIN ACT -		 Custodian 	
(Cust)	(Minor)
Under Uniform Transfer to Minors Act	
(State)

Additional abbreviations may also be used though not in the above list.
ASSIGNMENT AND TRANSFER

FOR	VALUE	RECEIVED	the	undersigned	sells,	assigns	and	transfers	unto

(please print or typewrite name and address of assignee)

the within Bond and all rights thereunder, and hereby irrevocably constitutes and appoints

Attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution in the premises.
Signature Guarantee:

 	
NOTICE: Signature(s) must be guaranteed by a member firm of the New York Stock Exchange or a commercial bank or trust company
NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatsoever.

Please insert social security or other identifying number of assignee.
EXHIBIT C FORMS OF REQUISITIONS
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023

(Acquisition and Construction)

The undersigned, a Responsible Officer of the Scenic Terrace South Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), dated as of April 1, 2022 as supplemented by that certain Second Supplemental Trust Indenture dated as of [	] 1, 2023 (collectively, the "Series 2023 Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Series 2023 Indenture):

Requisition Number:

Identify Acquisition Agreement, if applicable;

Name of payee pursuant to Acquisition Agreement:

Amount Payable:
Purpose for which paid or incurred (refer also to specific contract if amount is due and payable pursuant to a contract involving progress payments):
Fund or Account and subaccount, if any, from which disbursement to be made:

Series 2023 Acquisition and Construction Account of the Acquisition and Construction Fund

The undersigned hereby certifies that:

obligations in the stated amount set forth above have been incurred by the District.

each disbursement set forth above is a proper charge against the Series 2023 Acquisition and Construction Account of the Acquisition and Construction Fund.

each disbursement set forth above was incurred in connection with the Costs of the Series 2023 Project.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.
The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
Attached hereto or on file with the District are copies of the invoice(s) or applicable contracts from the vendor of the property acquired or the services rendered, as well as applicable conveyance instruments (e.g. deed(s), bill(s) of sale, easement(s), etc.) with respect to which disbursement is hereby requested.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By: 	
Responsible Officer
Date: 	

CONSULTING ENGINEER'S APPROVAL FOR
NON-COST OF ISSUANCE OR [NON-OPERATING COSTS REQUESTS ONLY]
The undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of the Series 2023 Project and is consistent with: (i) the applicable acquisition or construction contract; (ii) the plans and specifications for the portion of the Series 2023 Project with respect to which such disbursement is being made; and (iii) the report of the Consulting Engineer, as such report shall have been amended or modified on the date hereof. The Consulting Engineer further certifies and agrees that for any acquisition (a) the portion of the Series 2023 Project that is the subject of this requisition is complete, and (b) the purchase price to be paid by the District for the portion of the Series 2023 Project to be acquired with this disbursement is no more than the lesser of (i) the fair market value of such improvements and (ii) the actual cost of construction of such improvements.

Consulting Engineer

Date: 	
FORMS OF REQUISITIONS
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2023

(Costs of Issuance)
The undersigned, a Responsible Officer of the Scenic Terrace South Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), dated as of April 1, 2022, as supplemented by that certain Second Supplemental Trust Indenture dated as of [	] 1, 2023 (collectively, the "Series 2023 Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Series 2023 Indenture):

Requisition Number:

Amount Payable:

Purpose for which paid or incurred: Costs of Issuance
Fund or Account and subaccount, if any, from which disbursement to be made:

Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund

The undersigned hereby certifies that:
this requisition is for Costs of Issuance payable from the Series 2023 Costs of Issuance Account that have not previously been paid;
each disbursement set forth above is a proper charge against the Series 2023 Costs of Issuance Account;
each disbursement set forth above was incurred in connection with the issuance of the Series 2023 Bonds; and
each disbursement represents a cost of issuance which has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the moneys payable to the payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage which the District is at the date of such certificate entitled to retain.
Attached hereto or on file with the District are copies of the invoice(s) from the vendor of the services rendered, with respect to which disbursement is hereby requested.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By:		
Responsible Officer

Date: 	
EXHIBIT D
FORM OF INVESTOR LETTER

[Date]

FMSbonds, Inc.
20660 W. Dixie Highway North Miami Beach, FL 33180

Re:	$	 Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023
Ladies and Gentlemen:

The undersigned is authorized to sign this letter [on behalf of Name of Non-Individual Investor], as the beneficial owner (the "Investor") of $	 of the above-referenced Bonds [state maturing on 	  , 	, bearing interest at the rate of   % per annum and CUSIP #] (herein, the "Investor Bonds").

In connection with the purchase of the Investor Bonds by the Investor, the Investor hereby makes the following representations upon which you may rely:

The Investor has authority to purchase the Investor Bonds and to execute this letter, any other instruments and documents required to be executed by the Investor in connection with the purchase of the Investor Bonds.

The Investor meets the criteria of an "accredited investor" as described in one or more of the categories derived from Rule 501(a) under Regulation D of the Securities Act of 1933, as amended (the "Securities Act") summarized below, and therefore, has sufficient knowledge and experience in financial and business matters, including purchase and ownership of municipal and other tax-exempt obligations including those which are not rated or credit-enhanced, to be able to evaluate the risks and merits of the investment represented by the Bonds. Please check the appropriate box below to indicate the type of accredited investor:

a bank, registered broker, dealer or investment adviser (or investment adviser exempt from registration under Section 203(l) or (m) within the meaning of the Investment Advisers Act of 1940), insurance company, registered investment company, business development company, small business investment company; or rural business investment company;

an employee benefit plan, within the meaning of the Employee Retirement Income Security Act of 1974, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the employee benefit plan has total assets in excess of $5 million;

an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, corporation, Massachusetts or similar business trust partnership, or limited liability company, not formed for the specific purpose of acquiring the Investor Bonds with assets exceeding $5 million;
a business in which all the equity owners are "accredited investors";

a natural person who has individual net worth, or joint net worth with the person's spouse or spousal equivalent, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person, except that mortgage indebtedness on the primary residence shall not be included as a liability;

a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse or spousal equivalent exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;

a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Investor Bonds whose purchase is directed by a sophisticated person;

an entity, of a type other than those set forth above, that owns investments in excess of $5,000,000 and that was not formed for the specific purpose of acquiring the Investor Bonds;

a natural person holding in good standing one or more professional certifications or designations or credentials from a designated accredited educational institution qualifying an individual for "accredited investor" status;

a "family office" with at least $5,000,000 in assets under management, that was not formed for the specific purpose of acquiring the Investor Bonds, and whose prospective investment is directed by a person capable of evaluating the merits and risks of the prospective investment; or

a "family client" of a family office described in the prior bullet point whose prospective investment is directed by that family office.

The Investor has been supplied with an (electronic) copy of the Preliminary Limited Offering Memorandum dated [	  , 2023], of the Issuer and relating to the Bonds (the "Offering Document") and has reviewed the Offering Document and represents that such Offering Document has provided full and meaningful disclosure in order to make an informed decision to invest in the Investor Bonds.

Capitalized terms used herein and not otherwise defined have the meanings given to such terms in the Indenture.
Very truly yours, [Name], [Type of Entity]
By: 	 Name: 	 Title: 	 Date: 	

Or

[Name], an Individual
EXHIBIT B

FORM OF BOND PURCHASE CONTRACT

B-1

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (TOWN OF LAKE HAMILTON, FLORIDA)

$[	]
SPECIAL ASSESSMENT BONDS, SERIES 2023 (SERIES 2023 PROJECT)

BOND PURCHASE CONTRACT

[	], 2023

Board of Supervisors
Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

Dear Board of Supervisors:

FMSbonds, Inc. (the "Underwriter") offers to enter into this Bond Purchase Contract (the "Purchase Contract") with Scenic Terrace South Community Development District (the "District"). The District is located within the Town of Lake Hamilton, Florida (the "Town"). This offer of the Underwriter shall, unless accepted by the District, acting through its Board of Supervisors (the "Board"), expire at [5:00 P.M.] prevailing time within the jurisdiction of the District on the date hereof, unless previously withdrawn or extended in writing by the Underwriter. This Purchase Contract shall be binding upon the District and the Underwriter upon execution and delivery. Any capitalized word not defined herein shall have the meaning ascribed thereto in the Preliminary Limited Offering Memorandum (as hereinafter defined). In conformance with Section 218.385, Florida Statutes, as amended, the Underwriter hereby delivers to the District the Disclosure and Truth-In-Bonding Statements attached hereto as Exhibit A.

Purchase and Sale. Upon the terms and conditions and upon the basis of the representations, warranties and agreements set forth herein, the Underwriter hereby agrees to purchase from the District and the District hereby agrees to sell and deliver to the Underwriter, all (but not less than all) of its $[		] aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). The Series 2023 Bonds shall be dated their date of delivery and shall mature on the dates, shall bear interest at the rates, and shall be subject to redemption prior to maturity, all as provided in Exhibit B attached hereto. The purchase price for the Series 2023 Bonds shall be $[	] (representing the $[	] aggregate principal amount of the Series 2023 Bonds, [plus/less net original issue premium/discount of $[	] and] less underwriter's discount of $[	]). The payment for and delivery of the Series 2023 Bonds and the other actions contemplated hereby to take place at the Closing Date (as hereinafter defined) being hereinafter referred to as the "Closing."

The Series 2023 Bonds. The Series 2023 Bonds are to be issued by the District, a local unit of special-purpose government of the State of Florida (the "State"), created pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended, any successor statute thereto, the Florida Constitution, and other applicable provisions of law (the "Act"), and by Ordinance No. O-21-19 duly enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town") on October 5, 2021, as amended by Ordinance No. O-23-05, enacted on May 2, 2023 (collectively, the "Ordinance"). The Series 2023 Bonds are being issued pursuant to the Act and secured pursuant to the provisions of a Master Trust Indenture dated as of April 1, 2022 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture dated as of [September] 1, 2023 (the "Second Supplemental
Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and
U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), and Resolution No. 2022-26 and Resolution No. 2023-[ ] adopted by the Board on October 13, 2021 and [August 16], 2023, respectively (collectively, the "Bond Resolution"). The Series 2023 Special Assessments, the revenues from which constitute part of the Series 2023 Pledged Revenues, have been, or will be prior to the time of Closing, levied by the District on the lands within the District specially benefited by the Series 2023 Project pursuant to the Assessment Resolutions (as such terms are defined in the Indenture).

Limited Offering; Establishment of Issue Price. It shall be a condition to the District's obligation to sell and to deliver the Series 2023 Bonds to the Underwriter, and to the Underwriter's obligation to purchase, accept delivery of and pay for the Series 2023 Bonds, that the entire principal amount of the Series 2023 Bonds be issued, sold and delivered by the District and purchased, accepted and paid for by the Underwriter at the Closing and that the District and the Underwriter receive the opinions, documents and certificates described in Section 8(c) hereof.

The Underwriter agrees to assist the District in establishing the issue price of the Series 2023 Bonds and shall execute and deliver to the District at Closing an "issue price" or similar certificate, together with the supporting pricing wires or equivalent communications, in a form reasonably satisfactory to Bond Counsel, with such modifications as may be appropriate or necessary, in the reasonable judgment of the Underwriter, the District and Bond Counsel, to accurately reflect, as applicable, the sales price or prices or the initial offering price or prices to the public of the Series 2023 Bonds.

Except as otherwise indicated in Exhibit B, the District will treat the first price at which 10% of each maturity of the Series 2023 Bonds (the "10% test") is sold to the public as the issue price of that maturity. At or promptly after the execution of this Purchase Contract, the Underwriter shall report to the District the price or prices at which the Underwriter has sold to the public each maturity of Bonds. If at that time the 10% test has not been satisfied as to any maturity, the Underwriter agrees to promptly report to the District the prices at which the Series 2023 Bonds of that maturity have been sold by the Underwriter to the public. That reporting obligation shall continue, whether or not the Closing Date has occurred, until the 10% test has been satisfied as to the Series 2023 Bonds of that maturity or until all Bonds of that maturity have been sold to the public provided that, the Underwriter's reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Issuer or bond counsel. For purposes of this Section, if Bonds mature on the same date but have different interest rates, each separate CUSIP number within that maturity will be treated as a separate maturity of the Series 2023 Bonds.

The Underwriter confirms that it has offered the Series 2023 Bonds to accredited investors constituting the public on or before the date of this Purchase Contract at the offering price or prices (the "initial offering price"), or at the corresponding yield or yields, set forth in Exhibit B attached hereto, except as otherwise set forth therein. Exhibit B also sets forth, as of the date of this Purchase Contract, the maturities of the Series 2023 Bonds for which the 10% test has not been satisfied and for which the District and the Underwriter agree that the restrictions set forth in the next sentence shall apply, which will allow the District to treat the initial offering price to the public of each such maturity as of the sale date as the issue price of that maturity (the "hold-the-offering- price rule"). So long as the hold-the-offering-price rule remains applicable to any maturity of the Series 2023 Bonds, the Underwriter will neither offer nor sell unsold Bonds of that maturity to any person at a price that is higher than the initial offering price to the public during the period starting on the sale date and ending on the earlier of the following:

the close of the fifth (5th) business day after the sale date; or
the date on which the Underwriter has sold at least 10% of that maturity of the Series 2023 Bonds to the public at a price that is no higher than the initial offering price to the public.

The Underwriter will advise the District promptly after the close of the fifth (5th) business day after the sale date whether it has sold 10% of that maturity of the Series 2023 Bonds to the public at a price that is no higher than the initial offering price to the public.

The Underwriter confirms that:

any selling group agreement and any third-party distribution agreement relating to the initial sale of the Series 2023 Bonds to the public, together with the related pricing wires, contains or will contain language obligating each dealer who is a member of the selling group and each broker-dealer that is a party to such third-party distribution agreement, as applicable:

(i) to report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the Closing Date has occurred, until either all Bonds of that maturity allocated to it have been sold or it is notified by the Underwriter that the 10% test has been satisfied as to the Series 2023 Bonds of that maturity, provided that, the reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Underwriter, and (ii) to comply with the hold-the- offering-price rule, if applicable, if and for so long as directed by the Underwriter,

to promptly notify the Underwriter of any sales of Bonds that, to its knowledge, are made to a purchaser who is a related party to an underwriter participating in the initial sale of the Series 2023 Bonds to the public (each such term being used as defined below), and

to acknowledge that, unless otherwise advised by the dealer or broker- dealer, the Underwriter shall assume that each order submitted by the dealer or broker- dealer is a sale to the public.

any selling group agreement relating to the initial sale of the Series 2023 Bonds to the public, together with the related pricing wires, contains or will contain language obligating each dealer that is a party to a third-party distribution agreement to be employed in connection with the initial sale of the Series 2023 Bonds to the public to require each broker-dealer that is a party to such third-party distribution agreement to (A) report the prices at which it sells to the public the unsold Bonds of each maturity allocated to it, whether or not the Closing Date has occurred, until either all Bonds of that maturity allocated to it have been sold or it is notified by the Underwriter or the dealer that the 10% test has been satisfied as to the Series 2023 Bonds of that maturity, provided that, the reporting obligation after the Closing Date may be at reasonable periodic intervals or otherwise upon request of the Underwriter or the dealer, and (B) comply with the hold-the- offering-price rule, if applicable, if and for so long as directed by the Underwriter or the dealer and as set forth in the related pricing wires.

The District acknowledges that, in making the representation set forth in this subsection, the Underwriter will rely on (i) in the event a selling group has been created in connection with the initial sale of the Series 2023 Bonds to the public, the agreement of each dealer who is a member of the selling group to comply with the requirements for establishing issue price,
including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Series 2023 Bonds, as set forth in a selling group agreement and the related pricing wires, and (ii) in the event that a third-party distribution agreement was employed in connection with the initial sale of the Series 2023 Bonds to the public, the agreement of each broker-dealer that is a party to such agreement to comply with requirements for establishing issue price of the Series 2023 Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Series 2023 Bonds, as set forth in the third-party distribution agreement and the related pricing wires. The District further acknowledges that the Underwriter shall not be liable for the failure of any dealer who is a member of a selling group, or of any broker-dealer that is a party to a third-party distribution agreement, to comply with its corresponding agreement to comply with the requirements for establishing issue price of the Series 2023 Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Series 2023 Bonds.

The Underwriter acknowledges that sales of any Bond to any person that is a related party to an Underwriter participating in the initial sale of the Series 2023 Bonds to the public (each such term being used as defined below) shall not constitute sales to the public for purposes of this section. Further, for purposes of this section:

"public" means any person other than an underwriter or a related party,

"underwriter" means (A) any person that agrees pursuant to a written contract with the District (or with the Underwriter to form an underwriting syndicate) to participate in the initial sale of the Series 2023 Bonds to the public and (B) any person that agrees pursuant to a written contract directly or indirectly with a person described in clause
(A) to participate in the initial sale of the Series 2023 Bonds to the public (including a member of a selling group or a party to a third-party distribution agreement participating in the initial sale of the Series 2023 Bonds to the public),

a purchaser of any of the Series 2023 Bonds is a "related party" to an underwriter if the underwriter and the purchaser are subject, directly or indirectly, to (A) more than 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another),
(B) more than 50% common ownership of their capital interests or profits interests, if both entities are partnerships (including direct ownership by one partnership of another), or (C) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other), and

"sale date" means the date of execution of this Purchase Contract by all
parties.

Use of Documents. Prior to the date hereof, the District has caused to be prepared and provided to the Underwriter the Preliminary Limited Offering Memorandum, dated [	], 2023 (the "Preliminary Limited Offering Memorandum"), of the District, relating to the Series 2023 Bonds that the District has deemed final as of its date, except for certain permitted omissions (the "Permitted Omissions"), as contemplated by Rule 15c2-12 of the Securities and Exchange Commission (the "Rule") in connection with the limited offering of the Series 2023 Bonds. The Underwriter has reviewed the Preliminary Limited Offering Memorandum prior to the execution of this Purchase Contract. The District has, prior to the date hereof, authorized the use of the Preliminary Limited Offering Memorandum by the Underwriter. The
District shall deliver, or cause to be delivered, at its expense, to the Underwriter within seven (7) business days after the date hereof but not later than the Closing Date (as hereinafter defined) and in sufficient time to accompany any confirmation that requests payment from any customer such number of copies of the final Limited Offering Memorandum (the "Limited Offering Memorandum" and, together with the Preliminary Limited Offering Memorandum, the "Limited Offering Memoranda") as the Underwriter shall reasonably request to comply with the requirements of the Rule and all applicable rules of the Municipal Securities Rulemaking Board (the "MSRB"). The Underwriter agrees to file the Limited Offering Memorandum with the MSRB not later than two (2) business days after the Closing Date. The Underwriter agrees that it will not confirm the sale of any Bonds unless a final written confirmation of sale is accompanied or preceded by the delivery of a copy of the Limited Offering Memorandum. The District hereby approves the circulation and use by the Underwriter of the Limited Offering Memoranda with respect to the Series 2023 Bonds.

Definitions. For purposes hereof, (a) this Purchase Contract, the Series 2023 Bonds, the Indenture, the Continuing Disclosure Agreement to be dated as of the Closing Date, by and among the District, ST DEV PARTNERS, LLC, a Florida limited liability company (the "Landowner"), and Governmental Management Services - Central Florida, LLC, a Florida limited liability company, as dissemination agent (the "Dissemination Agent"), the Trustee and the District Manager in substantially the form attached to the Preliminary Limited Offering Memorandum as APPENDIX E thereto (the "Disclosure Agreement") and the DTC Blanket Issuer Letter of Representations entered into by the District are referred to herein collectively as the "Financing Documents," and (b) [the Agreement Regarding the Completion of Certain Improvements by and between the District and the Landowner dated as of the Closing Date (the "Completion Agreement"), the Agreement Regarding the Acquisition of Work Product, Improvements and Real Property by and between the District and the Landowner dated as of the Closing Date (the "Acquisition Agreement"), the Collateral Assignment and Assumption of Development Rights Relating to the Series 2023 Project by and between the District and the Landowner, dated as of the Closing Date in recordable form (the "Collateral Assignment"), the Agreement Regarding True-Up by and between the District and the Landowner dated as of the Closing Date in recordable form (the "True-Up Agreement"), and the Declaration of Consent to Jurisdiction of the District and to Imposition of Special Assessments by the Landowner dated as of [		], 2023, are collectively referred to herein as the "Ancillary Agreements."]

Representations, Warranties and Agreements. The District hereby represents, warrants and agrees as follows:

The Board is the governing body of the District and the District is and will be on the Closing Date duly organized and validly existing as a unit of special-purpose government created pursuant to the Constitution and laws of the State, including, without limitation, the Act;

The District has full legal right, power and authority to: (i) adopt the Bond Resolution and the Assessment Resolutions; (ii) enter into the Financing Documents and Ancillary Agreements; (iii) sell, issue and deliver the Series 2023 Bonds to the Underwriter as provided herein; (iv) apply the proceeds of the sale of the Series 2023 Bonds for the purposes described in the Limited Offering Memoranda; (v) authorize and acknowledge the use of the Limited Offering Memoranda and authorize the execution of the Limited Offering Memorandum; and (vi) carry out and consummate the transactions contemplated by the Bond Resolution, the Assessment Resolutions, the Financing Documents, the Ancillary Agreements, and the Limited Offering Memoranda. The District has complied, and on the Closing Date will be in compliance in all material respects, with the terms of the Act and with the obligations on its part contained in the Bond Resolution, the Assessment Resolutions, the Financing Documents, the Ancillary Agreements and the Series 2023 Bonds;
At meetings of the Board that were duly called and noticed and at which a quorum was present and acting throughout, the Board duly adopted the Bond Resolution and the Assessment Resolutions, and the same are in full force and effect and have not been supplemented, amended, modified or repealed, except as set forth therein. By all necessary official Board action, the District has duly authorized and approved the use and delivery of the Preliminary Limited Offering Memorandum and the execution and delivery of the Financing Documents, the Ancillary Agreements, the Series 2023 Bonds and the Limited Offering Memorandum, has duly authorized and approved the performance by the District of the obligations on its part contained in the Financing Documents, the Ancillary Agreements and the Series 2023 Bonds and the consummation by it of all other transactions contemplated by this Purchase Contract and the Limited Offering Memoranda in connection with the issuance of the Series 2023 Bonds. Upon execution and delivery by the District and the Trustee (and assuming the due authorization, execution and delivery of the Indenture by the Trustee), the Indenture will constitute a legal, valid and binding obligation of the District, enforceable in accordance with its terms, subject only to applicable bankruptcy, insolvency, and similar laws affecting creditors' rights and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). Upon execution by the District and the other parties thereto (and assuming the due authorization, execution and delivery of such agreements by the other parties thereto) the Financing Documents and the Ancillary Agreements will constitute the legal, valid and binding obligations of the District, enforceable in accordance with their respective terms; subject only to applicable bankruptcy, insolvency and similar laws affecting creditors' rights and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);

Except as may be expressly disclosed in the Preliminary Limited Offering Memorandum, the District is not in material breach of or material default under any applicable provision of the Act or any applicable constitutional provision or statute or, to the best of its knowledge, administrative regulation of the State or the United States of America or any applicable judgment or decree, or any loan agreement, indenture, bond, note, resolution, agreement, or other material instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, and to the best of its knowledge, no event has occurred and is continuing which with the passage of time or the giving of notice, or both, would constitute a material default or material event of default under any such instrument; and the execution and delivery of the Series 2023 Bonds, the Financing Documents, the Ancillary Agreements and the Limited Offering Memorandum, the approval of the delivery of the Preliminary Limited Offering Memorandum, and the adoption of the Bond Resolution and the Assessment Resolutions, and compliance with the provisions on the District's part contained therein, will not conflict with or constitute a material breach of or material default under any applicable constitutional provision, or law, or, to the best of its knowledge, any administrative regulation, judgment, decree, loan agreement, indenture, bond, note, resolution, agreement, or other instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, nor will any such execution, delivery, adoption, or compliance result in the creation or imposition of any lien, charge, or other security interest or encumbrance of any nature whatsoever upon any of the property or assets of the District or under the terms of any such law, regulation or instrument, except as provided by the Assessment Resolutions, the Series 2023 Bonds and the Indenture. To the best of its knowledge, no event has occurred which, with the lapse of time or the giving of notice, or both, would constitute an event of default (as therein defined) under the Series 2023 Bonds, the Financing Documents or the Ancillary Agreements;

All authorizations, approvals, licenses, permits, consents and orders of any governmental authority, legislative body, board, agency or commission having jurisdiction of the
matters which are required for the due authorization by, or which would constitute a condition precedent to, or the absence of which would materially adversely affect, the due performance by the District of its obligations, to issue the Series 2023 Bonds, or under the Series 2023 Bonds, the Bond Resolution, the Assessment Resolutions, Financing Documents or the Ancillary Agreements have been duly obtained, except for such approvals, consents and orders as may be required under the Blue Sky or securities laws of any state in connection with the offering and sale of the Series 2023 Bonds;

The descriptions of the Series 2023 Bonds, the Financing Documents, the Ancillary Agreements and the Series 2023 Project, to the extent referred to in the Limited Offering Memoranda, conform in all material respects to the Series 2023 Bonds, the Financing Documents, the Ancillary Agreements and the Series 2023 Project, respectively;

The Series 2023 Bonds, when issued, executed and delivered in accordance with the Indenture and when sold to the Underwriter as provided herein, will be validly issued and outstanding obligations of the District, entitled to the benefits of the Indenture and upon such issuance, execution and delivery of the Series 2023 Bonds, the Indenture will provide, for the benefit of the holders from time to time of the Series 2023 Bonds, a legally valid and binding pledge of and first lien on the Series 2023 Pledged Revenues. On the Closing Date, all conditions precedent to the issuance of the Series 2023 Bonds set forth in the Indenture will have been complied with or fulfilled;

As of the date hereof, there is no claim, action, suit, proceeding, inquiry or investigation, at law or in equity, before or by any court, government agency, public board or body, pending or, to its best knowledge, threatened against the District: (i) contesting the corporate existence or powers of the Board or the titles of the respective officers of the Board to their respective offices; (ii) affecting or seeking to prohibit, restrain or enjoin the sale, issuance or delivery of the Series 2023 Bonds or the application of the proceeds of the sale thereof for the purposes described in the Limited Offering Memoranda or the collection of the Series 2023 Special Assessments or the pledge of and lien on the Series 2023 Pledged Revenues, pursuant to the Indenture; (iii) contesting or affecting specifically as to the District the validity or enforceability of the Act or any action of the District in any respect relating to the authorization for the issuance of the Series 2023 Bonds, or the authorization of the Series 2023 Project, the Bond Resolution, the Assessment Resolutions, the Financing Documents and Ancillary Agreements to which the District is a party, or the application of the proceeds of the Series 2023 Bonds for the purposes set forth in the Limited Offering Memoranda; (iv) contesting the federal tax status of the Series 2023 Bonds; or (v) contesting the completeness or accuracy of the Limited Offering Memoranda or any supplement or amendment thereto;

To the extent applicable, the District will furnish such information, execute such instruments and take such other action in cooperation with the Underwriter as the Underwriter may reasonably request in order to: (i) qualify the Series 2023 Bonds for offer and sale under the Blue Sky or other securities laws and regulations of such states and other jurisdictions of the United States as the Underwriter may designate; and (ii) determine the eligibility of the Series 2023 Bonds for investment under the laws of such states and other jurisdictions, and the District will use its best efforts to continue such qualifications in effect so long as required for the initial limited offering and distribution of the Series 2023 Bonds; provided, however, that the District shall not be required to execute a general or special consent to service of process or to qualify to do business in connection with any such qualification or determination in any jurisdiction or register as a broker/dealer;
As of its date (unless an event occurs of the nature described in paragraph (1) of this Section 6) and at all times subsequent thereto, up to and including the date hereof the statements and information contained in the Preliminary Limited Offering Memorandum (other than Permitted Omissions) and in the Limited Offering Memorandum are and will be accurate in all material respects for the purposes for which their use is authorized and do not and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made therein, in the light of the circumstances under which they were made, not misleading; provided, however, that no representation is made concerning information contained in the Limited Offering Memoranda under the captions "DESCRIPTION OF THE SERIES 2023 BONDS – Book- Entry Only System," "THE DEVELOPMENT," "THE LANDOWNER," "TAX MATTERS," "SUITABILITY FOR INVESTMENT," "LITIGATION – The Landowner," "UNDERWRITING"
and "CONTINUING DISCLOSURE" (solely with respect to information pertaining to the Landowner);

If the Limited Offering Memorandum is supplemented or amended pursuant to subsection (1) of this Section 6, at the time of each supplement or amendment thereto and (unless subsequently again supplemented or amended pursuant to such paragraph) at all times subsequent thereto up to and including the Closing Date, the Limited Offering Memorandum as so supplemented or amended will be accurate in all material respects for the purposes for which their use is authorized and will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that no representation is made concerning information contained in the Limited Offering Memoranda under the captions "DESCRIPTION OF THE SERIES 2023 BONDS – Book-Entry Only System," "THE DEVELOPMENT," "THE LANDOWNER," "TAX MATTERS," "SUITABILITY FOR INVESTMENT," "LITIGATION –
The Landowner," "UNDERWRITING" and "CONTINUING DISCLOSURE" (solely with respect to information pertaining to the Landowner);

If between the date of this Purchase Contract and the earlier of (i) the date that is ninety (90) days from the end of the "Underwriting Period" as defined in the Rule, or (ii) the time when the Limited Offering Memorandum is available to any person from the MSRB's Electronic Municipal Market Access system (but in no event less than twenty-five (25) days following the end of the Underwriting Period), any event shall occur, of which the District has actual knowledge, which might or would cause the Limited Offering Memorandum, as then supplemented or amended, to contain any untrue statement of a material fact or to omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, the District shall notify the Underwriter thereof, and, if in the opinion of the Underwriter such event requires the preparation and publication of a supplement or amendment to the Limited Offering Memorandum, the District will at its expense (unless such supplement or amendment is the direct result of information provided by the Landowner or Underwriter, then at the expense of said relevant person) supplement or amend the Limited Offering Memorandum in a form and in a manner approved by the Underwriter. The end of the Underwriting Period shall be the next business day after the Closing Date;

Since its inception, there has been no material adverse change in the properties, businesses, results of operations, prospects, management or financial or other condition of the District, except as disclosed in the Limited Offering Memoranda, and the District has not incurred liabilities that would materially adversely affect its ability to discharge its obligations under the Bond Resolution, the Assessment Resolutions, the Series 2023 Bonds, the Financing Documents or the Ancillary Agreements, direct or contingent, other than as set forth in or contemplated by the Limited Offering Memoranda;
The District has not and is not now in default in the payment of the principal of or the interest on any governmental security issued or guaranteed by it after December 31, 1975 which would require the disclosure pursuant to Section 517.051, Florida Statutes or Rule 69W-400.003 of the Florida Department of Financial Services;

Except as expressly disclosed in the Preliminary Limited Offering Memorandum, the District has not failed in the previous five (5) years to comply, in all material respects, with any previous continuing disclosure obligations undertaken by the District in accordance with the continuing disclosure requirements of the Rule;

Any certificate signed by any official of the District and delivered to the Underwriter will be deemed to be a representation by the District to the Underwriter as to the statements made therein; and

From the date of this Purchase Contract through the Closing Date, the District will not issue any bonds (other than the Series 2023 Bonds), notes or other obligations payable from the Series 2023 Pledged Revenues.

Closing. At 10:00 a.m. prevailing time on [	], 2023 (the "Closing Date") or at such later time as may be mutually agreed upon by the District and the Underwriter, the District will, subject to the terms and conditions hereof, deliver to the Underwriter, the Series 2023 Bonds in definitive book- entry only form, duly executed and authenticated, together with the other documents hereinafter mentioned, and, subject to the terms and conditions hereof, the Underwriter will accept such delivery and pay the purchase price of the Series 2023 Bonds as set forth in Section 1 hereof, in federal or other immediately available funds to the order of the District. Delivery of the Series 2023 Bonds as aforesaid shall be made pursuant to the FAST system of delivery of The Depository Trust Company, New York, New York, or at such other place as may be mutually agreed upon by the District and the Underwriter. The Series 2023 Bonds shall be typewritten, shall be prepared and delivered as fully registered bonds in book-entry only form, with one bond for each maturity, registered in the name of Cede & Co. and shall be made available to the Underwriter at least one (1) business day before the Closing Date for purposes of inspection and packaging, unless otherwise agreed by the District and the Underwriter.

Closing Conditions. The Underwriter has entered into this Purchase Contract in reliance upon the representations, warranties and agreements of the District contained herein, and in reliance upon the representations, warranties and agreements to be contained in the documents and instruments to be delivered on the Closing Date and upon the performance by the District of its obligations hereunder, both as of the date hereof and as of the Closing Date. Accordingly, the Underwriter's obligations under this Purchase Contract to purchase, to accept delivery of and to pay for the Series 2023 Bonds are conditioned upon the performance by the District of its obligations to be performed hereunder and under such documents and instruments at or prior to the Closing Date, and are also subject to the following additional conditions:

The representations and warranties of the District contained herein shall be true, complete and correct, on the date hereof and on and as of the Closing Date, as if made on the Closing Date;

At the time of the Closing, the Bond Resolution, the Assessment Resolutions, the Series 2023 Bonds, the Financing Documents and the Ancillary Agreements shall each be in full force and effect in accordance with their respective terms and the Bond Resolution, the Assessment Resolutions, the Indenture and the Limited Offering Memoranda shall not have been supplemented, amended, modified or repealed, except in any such case as may have been agreed to by the Underwriter;
At or prior to the Closing Date, the Underwriter and the District shall have received each of the following:

The Limited Offering Memorandum and each supplement or amendment, if any, thereto, executed on behalf of the District by the Chairperson of the Board or such other authorized member of the Board;

A copy of each of the Bond Resolution and the Assessment Resolutions certified by the Secretary or an Assistant Secretary of the Board under seal as having been duly adopted by the Board of the District and as being in full force and effect;

Executed copies of each of the Financing Documents and Ancillary Agreements in form and substance acceptable to the Underwriter and Underwriter's counsel;

The opinion, dated as of the Closing Date and addressed to the District, of Greenberg Traurig, P.A., Bond Counsel, in the form included in the Preliminary Limited Offering Memorandum as APPENDIX C or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel, together with a letter of such counsel, dated as of the Closing Date and addressed to the Underwriter and the Trustee, to the effect that the foregoing opinion addressed to the District may be relied upon by the Underwriter and the Trustee to the same extent as if such opinion were addressed to them;

The supplemental opinion, dated as of the Closing Date and addressed to the Underwriter, of Greenberg Traurig, P.A., Bond Counsel, in the form annexed as Exhibit C hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

The opinion, dated as of the Closing Date of Kilinski | Van Wyk PLLC, counsel to the District, in the form annexed as Exhibit D hereto or in form and substance otherwise acceptable to the Underwriter and its counsel;

An opinion, dated as of the Closing Date and addressed to the Underwriter, Underwriter's Counsel, the District and Bond Counsel, of counsel to the Trustee, in form and substance acceptable to Bond Counsel, Underwriter, Underwriter's Counsel, and the District;

A customary authorization and incumbency certificate, dated as of the Closing Date, signed by authorized officers of the Trustee in form and substance acceptable to the Underwriter and Underwriter's Counsel;

The opinion, dated as of the Closing Date and addressed to the District, the Trustee and the Underwriter, of Straughn & Turner, P.A., counsel to the Landowner, in the form annexed as Exhibit E hereto or in form and substance otherwise acceptable to the Underwriter and Underwriter's counsel;

A certificate of the Landowner dated as of the Closing Date, in the form annexed as Exhibit F hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A copy of the Ordinance;
A certificate, dated as of the Closing Date, signed by the Chairperson or Vice-Chairperson and the Secretary or an Assistant Secretary of the Board, setting forth that: (i) each of the representations of the District contained herein was true and accurate in all material respects on the date when made, has been true and accurate in all material respects at all times since, and continues to be true and accurate in all material respects on the Closing Date as if made on such date; (ii) the District has performed all obligations to be performed hereunder as of the Closing Date; (iii) except as may be disclosed in the Limited Offering Memorandum, the District has never been in default as to principal or interest with respect to any obligation issued or guaranteed by the District; (iv) the District agrees to take all reasonable action necessary to use the Uniform Method as the means of collecting the Series 2023 Special Assessments as described in the Indenture; and (v) the Limited Offering Memoranda (other than the information under the captions "DESCRIPTION OF THE SERIES 2023 BONDS – Book-Entry Only System," "THE DEVELOPMENT," "THE LANDOWNER," "TAX MATTERS," "SUITABILITY FOR INVESTMENT,"  "LITIGATION  –  The  Landowner,"  "UNDERWRITING"  and
"CONTINUING DISCLOSURE" (solely with respect to information pertaining to the Landowner) (as to each of which no view need be expressed) as of their respective dates, and as of the date hereof, do not contain any untrue statement of a material fact or omits to state a material fact which should be included therein for the purposes for which the Limited Offering Memoranda are to be used, or which is necessary in order to make the statements contained therein, in the light of the circumstances under which they were made, not misleading;

A customary signature and no litigation certificate, dated as of the Closing Date, signed on behalf of the District by the Chairperson or Vice-Chairperson and Secretary or an Assistant Secretary of the Board in form and substance acceptable to the Underwriter and Underwriter's Counsel;

Evidence of compliance by the District with the requirements of Section 189.051, Florida Statutes;

Executed copies of the District's certification as to arbitrage and other matters relative to the tax status of the Series 2023 Bonds under Section 148 of the Internal Revenue Code of 1986, as amended;

Executed copy of Internal Revenue Service Form 8038-G relating to the Series 2023 Bonds;

A certificate of the District's consulting engineer, dated as of the Closing Date, in the form annexed as Exhibit G hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A certificate of the District Manager and Methodology Consultant in the form annexed as Exhibit H hereto or otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

A certificate of the District whereby the District deemed the Preliminary Limited Offering Memorandum final for purposes of the Rule as of the date of the Preliminary Limited Offering Memorandum except for the Permitted Omissions;
To the extent required under the Indenture, an investor letter from each initial beneficial owner of the Series 2023 Bonds in the form attached to the Indenture;

Such additional documents as may be required by the Indenture to be delivered as a condition precedent to the issuance of the Series 2023 Bonds;

Evidence of compliance by the District with the requirements of Section 215.84, Florida Statutes;

A certified copy of the final judgment of the Tenth Judicial Circuit Court of Florida in and for Polk County, Florida, validating the Series 2023 Bonds and appropriate certificate of no-appeal;

A copy of the Master Assessment Methodology for Scenic Terrace South Community Development District, dated October 13, 2021, as supplemented by the Supplemental Assessment Methodology for Series 2023 for Scenic Terrace South Community Development District dated the date hereof, as the same may be amended and supplemented from time to time, relating to the Series 2023 Bonds;

A copy of the "Engineer's Report – Amended and Restated" dated May 16, 2023 (the "Engineer's Report");

Acknowledgments in recordable form by all mortgage holders, if any, on lands which are subject to the Series 2023 Special Assessments as to the superior lien of the Series 2023 Special Assessments, in form and substance acceptable to the Underwriter and Underwriter's Counsel;

Declaration of Consent to Jurisdiction of the District and to Imposition of Special Assessments by the Landowner and any other landowners with respect to all real property which is subject to the Series 2023 Special Assessments, each in recordable form and otherwise in form and substance acceptable to the Underwriter and Underwriter's Counsel;

Evidence acceptable to the Underwriter in its sole discretion that the District has engaged a dissemination agent acceptable to the Underwriter (the "Dissemination Agent") for the Series 2023 Bonds;

A certificate of the Dissemination Agent (i) acknowledging its agreement to serve as the initial Dissemination Agent for the District and undertake the obligations of the Dissemination Agent as set forth in the Continuing Disclosure Agreements (ii) representing that the Dissemination Agent is aware of the continuing disclosure requirements set forth in the Continuing Disclosure Agreements and the Rule and that it has policies and procedures in place to ensure its compliance with its obligations under the Disclosure Agreements, and (iii) covenanting to comply with its obligations under the Disclosure Agreements; and

Such additional legal opinions, certificates, instruments and other documents as, the Underwriter, Underwriter's Counsel or Bond Counsel may reasonably request to evidence the truth and accuracy, as of the date hereof and as of the Closing Date, of the District's representations and warranties contained herein and of the statements and information contained in the Limited Offering Memoranda and the due performance or
satisfaction by the District and the Landowner on or prior to the Closing of all the agreements then to be performed and conditions then to be satisfied by each.

If the District shall be unable to satisfy the conditions to the obligations of the Underwriter to purchase, to accept delivery of and to pay for the Series 2023 Bonds contained in this Purchase Contract (unless waived by the Underwriter in its sole discretion), or if the obligations of the Underwriter to purchase, to accept delivery of and to pay for the Series 2023 Bonds shall be terminated for any reason permitted by this Purchase Contract, this Purchase Contract shall terminate and neither the Underwriter nor the District shall be under any further obligation hereunder, except that the respective obligations of the District and the Underwriter set forth in Section 10 hereof shall continue in full force and effect.

Termination. The Underwriter shall have the right to terminate its obligations under this Purchase Contract to purchase, to accept delivery of and to pay for the Series 2023 Bonds by notifying the District in writing of its election to do so if, after the execution hereof and prior to the Closing: (i) legislation shall have been introduced in or enacted by the Congress of the United States or enacted by the State, or legislation pending in the Congress of the United States shall have been amended, or legislation shall have been recommended to the Congress of the United States or otherwise endorsed for passage (by press release, other form of notice or otherwise) by the President of the United States, the Treasury Department of the United States, the Internal Revenue Service or the Chairperson or ranking minority member of the Committee on Finance of the United States Senate or the Committee on Ways and Means of the United States House of Representatives, or legislation shall have been proposed for consideration by either such committee, by any member thereof, or legislation shall have been favorably reported for passage to either House of Congress of the United States by a committee of such House to which such legislation has been referred for consideration, or a decision shall have been rendered by a court of the United States or the State, including the Tax Court of the United States, or a ruling shall have been made or a regulation shall have been proposed or made or a press release or other form of notice shall have been issued by the Treasury Department of the United States, or the Internal Revenue Service or other federal or State authority, with respect to federal or State taxation upon revenues or other income of the general character to be derived by the District or by any similar body, or upon interest on obligations of the general character of the Series 2023 Bonds, which may have the purpose or effect, directly or indirectly, of materially and adversely affecting the tax exempt status of the District, its property or income, its securities (including the Series 2023 Bonds) or the interest thereon, or any tax exemption granted or authorized by the State or, which in the reasonable opinion of the Underwriter, affects materially and adversely the market of the Series 2023 Bonds, or the market price generally of obligations of the general character of the Series 2023 Bonds; (ii) the District or the Landowner has, without the prior written consent of the Underwriter, offered or issued any bonds, notes or other obligations for borrowed money, or incurred any material liabilities, direct or contingent, or there has been an adverse change of a material nature in the financial position, results of operations or condition, financial or otherwise, of the District or the Landowner, other than in the ordinary course of their respective business; (iii) any event shall have occurred or shall exist which, in the reasonable opinion of the Underwriter, would or might cause the information contained in the Limited Offering Memorandum, as then supplemented or amended, to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; or (iv) the District fails to adopt the Assessment Resolutions or fails to perform any action to be performed by it in connection with the levy of the Series 2023 Special Assessments.

Expenses.

The District agrees to pay, and the Underwriter shall not be obligated to pay, any expenses incident to the performance of the District's obligations hereunder, including, but not limited to: (i) the cost of the preparation and distribution of the Indenture; (ii) the cost of the preparation and printing, if applicable,
of the Limited Offering Memoranda and any supplements thereto, together with a reasonable number of copies which the Underwriter may request; (iii) the cost of registering the Series 2023 Bonds in the name of Cede & Co., as nominee of DTC, which will act as securities depository for such Bonds; (iv) the fees and disbursements of counsel to the District, the District Manager, the Dissemination Agent, Bond Counsel, the Consulting Engineer, the Underwriter, Underwriter's Counsel, the District's Methodology Consultant and any other experts or consultants retained by the District; and (v) the cost of recording in the Official Records of the Polk County, Florida (the "County") any Financing Documents, Ancillary Agreements or other documents or certificates that are required to be recorded pursuant to the terms of this Purchase Contract. The District shall submit for recording all documents required to be provided in recordable form hereunder within three business days after the Closing Date, which obligation shall survive the Closing.

The Underwriter agrees to pay all advertising expenses in connection with the Series 2023 Bonds, if any.

No Advisory or Fiduciary Role. The District acknowledges and agrees that (i) the purchase and sale of the Series 2023 Bonds pursuant to this Agreement is an arm's-length commercial transaction between the District and the Underwriter, (ii) in connection with such transaction and with the discussions, undertakings and processes leading up to such transaction, the Underwriter is and has been acting solely as a principal and not as an advisor (including, without limitation, a Municipal Advisor (as such term is defined in Section 975(e) of the Dodd-Frank Wall Street Reform and Consumer Protection Act)), agent or a fiduciary of the District, (iii) the Underwriter has not assumed an advisory or a fiduciary responsibility in favor of the District with respect to the limited offering of the Series 2023 Bonds or the discussions, undertakings and process leading thereto (whether or not the Underwriter, or any affiliate of the Underwriter, has provided or is currently advising or providing services to the District on other matters) or any other obligation to the District except the obligations expressly set forth in this Agreement, (iv) the Underwriter has financial and other interests that differ from those of the District, (v) the District has consulted with its own legal and financial advisors to the extent it deemed appropriate in connection with the offering of the Series 2023 Bonds, and (vi) the Underwriter has provided to the District prior disclosures under Rule G-17 of the MSRB, which have been received by the District.

Notices. Any notice or other communication to be given to the District under this Purchase Contract may be given by delivering the same in writing to the District Manager at Governmental Management Services – Central Florida, LLC, 219 E. Livingston Street, Orlando, Florida 32801, and any notice or other communication to be given to the Underwriter under this Purchase Contract may be given by delivering the same in writing to FMSbonds, Inc., 20660 W. Dixie Highway, North Miami Beach, Florida 33180, Attention: Jon Kessler.

Parties in Interest; Survival of Representations. This Purchase Contract is made solely for the benefit of the District and the Underwriter (including the successors or assigns of the Underwriter) and no other person shall acquire or have any right hereunder or by virtue hereof. All of the District's representations, warranties and agreements contained in this Purchase Contract shall remain operative and in full force and effect and survive the closing on the Series 2023 Bonds, regardless of: (i) any investigations made by or on behalf of the Underwriter and (ii) delivery of and payment for the Series 2023 Bonds pursuant to this Purchase Contract.

Effectiveness. This Purchase Contract shall become effective upon the execution by the appropriate officials of the District and shall be valid and enforceable at the time of such acceptance. To the extent of any conflict between the provisions of this Purchase Contract and any prior contract between the parties hereto, the provisions of this Purchase Contract shall govern.
Headings. The headings of the sections of this Purchase Contract are inserted for convenience only and shall not be deemed to be a part hereof.

Amendment. No modification, alteration or amendment to this Purchase Contract shall be binding upon any party until such modification, alteration or amendment is reduced to writing and executed by all parties hereto.

Governing Law. This Purchase Contract shall be governed and construed in accordance with the laws of the State.

Counterparts; Facsimile; PDF. This Purchase Contract may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were signatures upon the same instrument. Facsimile and pdf signatures shall be deemed originals.

[Signature page follows.]
Very truly yours,

FMSBONDS, INC.

Accepted and agreed to this
	 day of 	, 2023.
By: 	
Theodore A. Swinarski
Senior Vice President - Trading

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By: 	
Warren "Rennie" Heath II Chair, Board of Supervisors
EXHIBIT A

DISCLOSURE AND TRUTH-IN-BONDING STATEMENT

[	], 2023

Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

Re: $[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds")

Dear Board of Supervisors:

Pursuant to Chapter 218.385, Florida Statutes, and with respect to the issuance of the above- referenced Bonds, FMSbonds, Inc. (the "Underwriter"), having purchased the Series 2023 Bonds pursuant to a Bond Purchase Contract dated [	], 2023 (the "Bond Purchase Contract"), by and between the Underwriter and Scenic Terrace South Community Development District (the "District"), furnishes the following information in connection with the limited offering and sale of the Series 2023 Bonds. Capitalized terms used and not defined herein shall have the meanings given to them under the Bond Purchase Contract.

The total underwriting discount paid to the Underwriter pursuant to the Bond Purchase Contract for the Series 2023 Bonds is approximately $[   ] per $1,000.00 or $[	].

There are no "finders" as such term is used in Sections 218.385 and 218.386, Florida Statutes, in connection with the issuance of the Series 2023 Bonds.

The nature and estimated amounts of expenses to be incurred by the Underwriter in connection with the issuance of the Series 2023 Bonds are set forth in Schedule I attached hereto.

The management fee charged by the Underwriter is: $0/$1,000 or $0.

Any other fee, bonus or other compensation estimated to be paid by the Underwriter in connection with the Series 2023 Bonds to any person not regularly employed or retained by the Underwriter in connection with the Series 2023 Bonds to any person not regularly employed or retained by the Underwriter is as follows: None. GrayRobinson, P.A. has been retained as counsel to the Underwriter and will be compensated by the District.

Pursuant to the provisions of Sections 218.385(2) and (3), Florida Statutes, as amended, the following truth-in-bonding statements are made with respect to the Series 2023 Bonds.
The address of the Underwriter is: FMSbonds, Inc.
20660 W. Dixie Highway
North Miami Beach, Florida 33180

The District is proposing to issue $[	] aggregate amount of the Series 2023 Bonds for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, (ii) funding a deposit to the Series 2023
Reserve Account in the amount of the Series 2023 Reserve Requirement, (iii) paying a portion of the interest coming due on the Series 2023 Bonds and (iv) paying the costs of issuance of the Series 2023 Bonds. This debt or obligation is expected to be repaid over a period of approximately [	] ( ) years, [	] ( ) months, and [	] ( ) days. [There shall be no more than thirty (30) principal installments.] At a net interest cost of approximately [		]% for the Series 2023 Bonds, total interest paid over the life of the Series 2023 Bonds will be $[	].

The source of repayment for the Series 2023 Bonds is the Series 2023 Special Assessments, imposed and collected by the District. Based solely upon the assumptions set forth in the paragraph above, the issuance of the Series 2023 Bonds will result in approximately $[	] (representing the average annual debt service payments due on the Series 2023 Bonds) of the District's special assessment revenues not being available to the District on an annual basis to finance other services of the District each year for thirty-one (31) years and one (1) month; provided however, that in the event that the Series 2023 Bonds were not issued, the District would not be entitled to impose and collect the Series 2023 Special Assessments in the amount of the principal of and interest to be paid on the Series 2023 Bonds.

[Remainder of page intentionally left blank.]
Sincerely,

By:		 Theodore A. Swinarski
Senior Vice President - Trading
Schedule I
Expenses for Series 2023 Bonds:

Expense	Amount
DALCOMP	$[	]
Clearance CUSIP DTC
FINRA/SIPC MSRB
Electronic Orders
TOTAL:	$[	]
EXHIBIT B

TERMS OF BONDS

Purchase Price: $[	] (representing the $[	] aggregate principal amount of the Series 2023 Bonds, [plus/less net original issue premium/discount of $[	] and] less underwriter's discount of $[		]).

Principal Amounts, Maturities, Interest Rates, Yields, and Prices:

Series 2023 Bonds

Interest
Amount	Maturity	Rate	Yield	Price

[*Yield calculated to the first optional call date of May 1, 20  .]

The Underwriter has offered the Series 2023 Bonds to the public on or before the date of this Purchase Contract at the initial offering prices set forth herein and has sold at least 10% of each maturity of the Series 2023 Bonds to the public at a price that is no higher than such initial offering prices[, except for the following maturities: 	].

Redemption Provisions: Optional Redemption
The Series 2023 Bonds maturing after May 1, 20  may, at the option of the District be called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20  (less than all Series 2023 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2023 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2023 Optional Redemption Subaccount of the Series 2023 Bond Redemption Account. If such optional redemption shall be in part, the District shall select such principal amount of Series 2023 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Mandatory Sinking Fund Redemption

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

Upon any redemption of Series 2023 Bonds other than in accordance with scheduled mandatory sinking fund redemption, the District shall cause to be recalculated and delivered to the Trustee revised mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2023 Bonds in substantially equal annual installments of principal and interest (subject to
rounding to Authorized Denominations of principal) over the remaining term of the Series 2023 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2023 Bonds in any year. In the event of a redemption or purchase occurring less than forty-five (45) days prior to a date on which a mandatory sinking fund redemption payment is due, the foregoing recalculation shall not be made to the mandatory sinking fund redemption amounts due in the year in which such redemption or purchase occurs, but shall be made to the mandatory sinking fund redemption amounts for the immediately succeeding and subsequent years.

Extraordinary Mandatory Redemption

The Series 2023 Bonds are subject to extraordinary mandatory redemption prior to maturity by the District in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2023 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:

from Series 2023 Prepayment Principal deposited into the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account following the payment in whole or in part of Series 2023 Special Assessments on any assessable property within the District in accordance with the provisions of Section 4.05(a) of this Second Supplemental Trust Indenture, together with any excess moneys transferred by the Trustee from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount as a result of such Prepayment and pursuant to Sections 4.01(f) and 4.05(a) of this Second Supplemental Trust Indenture. If such redemption shall be in part, the Issuer shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee hereunder (other than the Series 2023 Rebate Fund and the Series 2023 Acquisition and Construction Account) sufficient to pay and redeem all Outstanding Series 2023 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture.

upon the Completion Date, from any funds remaining on deposit in the Series 2023 Acquisition and Construction Account in accordance with the provisions of the Second Supplemental Indenture, not otherwise reserved to complete the Series 2023 Project and transferred to the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account, together with moneys deposited therein in in accordance with the provisions of the Second Supplemental Indenture, as a result of the reduction of the Series 2023 Reserve Requirement. If such redemption shall be in part, the District shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.
EXHIBIT C

BOND COUNSEL'S SUPPLEMENTAL OPINION

[	], 2023

Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

FMSbonds, Inc.
North Miami Beach, Florida

Re:	$[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds")

Ladies and Gentlemen:

We have acted as Bond Counsel to Scenic Terrace South Community Development District (the "District"), a community development district established and existing pursuant to Chapter 190 of the Florida Statutes, as amended (the "Act"), in connection with the issuance by the District of its $[	] original aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). In such capacity, we have rendered our final approving opinion (the "Opinion") of even date herewith relating to the Series 2023 Bonds. The Series 2023 Bonds are secured pursuant to that certain Master Trust Indenture dated March 1, 2022 (the "Master Indenture"), as supplemented and amended by that certain Second Supplemental Trust Indenture, dated as of [September] 1, 2023 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Series 2023 Indenture ") by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee").

In connection with the rendering of the Opinion, we have reviewed records of the acts taken by the District in connection with the authorization, sale and issuance of the Series 2023 Bonds, were present at various meetings and participated in various discussions in connection therewith and have reviewed such other documents, records and other instruments as we deem necessary to deliver this opinion.

The District has entered into a Bond Purchase Contract dated [	], 2023 (the "Purchase Agreement"), for the purchase of the Series 2023 Bonds. Capitalized words used, but not defined, herein shall have the meanings ascribed thereto in the Purchase Agreement.

Based upon the forgoing, we are of the opinion that:

The sale of the Series 2023 Bonds by the District is not subject to the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), pursuant to the exemption provided in Section 3(a)(2) of the Securities Act.

The Series 2023 Indenture is exempt from qualification pursuant to the Trust Indenture Act of 1939, as amended.

The	information	in	the	Limited	Offering	Memorandum	under	the	captions "INTRODUCTION," "DESCRIPTION OF THE SERIES 2023 BONDS" and "SECURITY FOR AND
SOURCE OF PAYMENT OF THE SERIES 2023 BONDS," insofar as such statements constitute
descriptions of the Series 2023 Bonds or the Series 2023 Indenture, are accurate as to the matters set forth or documents described therein (provided, we express no opinion with respect to any financial, statistical and demographic information and information under the caption "DESCRIPTION OF THE SERIES 2023 BONDS – Book-Entry Only System," and any other information in the Limited Offering Memoranda concerning DTC and its book-entry system of registration), and the information under the captions "TAX MATTERS" and "AGREEMENT BY THE STATE" are correct as to matters of law.

This letter is furnished by us as Bond Counsel. No attorney-client relationship has existed or exists between our firm and FMSbonds, Inc. (the "Underwriter") in connection with the Series 2023 Bonds or by virtue of this letter. This letter is delivered to the Underwriter solely for its benefit as Underwriter and may not be used, circulated, quoted or otherwise referred to or relied upon by the Underwriter for any other purpose or by any other person other than the addressee hereto. This letter is not intended to, and may not be, relied upon by holders of the Series 2023 Bonds.

Very truly yours,
EXHIBIT D

ISSUER'S COUNSEL'S OPINION

[	], 2023

Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

FMSbonds, Inc.
North Miami Beach, Florida

U.S. Bank Trust Company, National Association Fort Lauderdale, Florida
(solely for reliance upon Sections C.1., C.2. and C.3)

Re:	$[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project)

Ladies and Gentlemen:

We serve as counsel to the Scenic Terrace South Community Development District (the "District"), a local unit of special-purpose government established pursuant to the laws of the State of Florida, in connection with the sale by the District of its $[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). This letter is delivered to you pursuant to Section 3.01(3) of the Master Indenture (defined below), Section 2.09(c) of the Second Supplemental Trust Indenture (defined below), and Section 8(c)(6) of the Bond Purchase Contract (referenced below), and is effective as of the date first written above. Each capitalized term not otherwise defined herein has the meaning given it to it in the Indenture (defined herein).

DOCUMENTS EXAMINED

In rendering the opinions set forth below, we have examined and/or relied upon the following documents and have made such examination of law as we have deemed necessary or appropriate:

Ordinance No. O-21-19, which was enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town"), located within Polk County, Florida (the "County") on October 7, 2021, which became effective on October 5, 2021, as amended by Ordinance No. 23-05, enacted by the Town on May 2, 2023 (collectively, the "Establishment Ordinance");
the Master Trust Indenture, dated as of April 1, 2022 ("Master Indenture"), as supplemented with respect to the Series 2023 Bonds by the Second Supplemental Trust Indenture, dated as of [September] 1, 2023 ("Second Supplemental Trust Indenture" and, together with the Master Indenture, "Indenture"), each by and between the District and U.S. Bank Trust Company, National Association, as trustee ("Trustee");
Resolutions Nos. 2022-26 and 2023-[ ] adopted by the District on October 13, 2021 and [August 16], 2023, respectively (collectively, "Bond Resolution");
"Engineer's Report – Amended and Restated" dated May 16, 2023 (the "Engineer's Report"), which describes among other things, the capital infrastructure improvements for the District (the "Series 2023 Project");
Master Assessment Methodology for Scenic Terrace South Community Development District dated October 13, 2021, as supplemented by the Supplemental Assessment Methodology for Series 2023 for Scenic Terrace South Community Development District dated [	], 2023 (collectively, "Assessment Methodology");
Resolution Nos. 2023-05, 2023-06 and 2023-11, adopted by the District on May 17, 2023,
May 17, 2023, and July 19, 2023 (collectively, "Assessment Resolution"), establishing the debt service special assessments ("Debt Assessments"), securing the Series 2023 Bonds;
the Final Judgment issued on January 3, 2022, by the Circuit Court for the Tenth Judicial Circuit in and for Polk County, Florida in Case No. 53-2021CA-002957000000 and the Certificate of No Appeal issued thereafter;
the Preliminary Limited Offering Memorandum dated [	], 2023 ("PLOM") and Limited Offering Memorandum dated [	], 2023 ("LOM");

certain certifications by FMSbonds, Inc. ("Underwriter"), as underwriter to the sale of the Series 2023 Bonds;
certain certifications of Dewberry Engineers Inc., as District Engineer;
certain certifications of Governmental Management Services – Central Florida, LLC, as Methodology Consultant;
certain certifications of Governmental Management Services – Central Florida, LLC, as District Manager;
general and closing certificate of the District;
an opinion of Greenberg Traurig, P.A. ("Bond Counsel"), issued to the District in connection with the sale and issuance of the Series 2023 Bonds;
an opinion of Aponte & Associates Law Firm, P.L.L.C. ("Trustee Counsel"), issued to the District and Underwriter in connection with the sale and issuance of the Series 2023 Bonds;
an opinion of Straughn & Turner, P.A., counsel to the Landowner (defined herein), issued to the District and the Underwriter in connection with the sale and issuance of the Series 2023 Bonds;
the following agreements ("Bond Agreements"):
the Continuing Disclosure Agreement dated [	], 2023, by and among the District and ST DEV PARTNERS, LLC ("Landowner"), and a dissemination agent;
the Bond Purchase Contract between Underwriter and the District and dated [	], 2023 ("BPA");
the Acquisition Agreement (Series 2023 Bonds), between the District and the Landowner and dated [	], 2023;
the Completion Agreement (Series 2023 Bonds), between the District and the Landowner and dated [	], 2023;
the True-Up Agreement (Series 2023 Bonds), between the District and the Landowner and dated [	], 2023;
the Collateral Assignment and Assumption Agreement (Series 2023 Bonds), between the District and the Landowner and dated [	], 2023;
Declaration of Consent to Jurisdiction executed by the Landowner;
Certificate of the Landowner; and
such other documents as we have deemed necessary or appropriate in rendering the opinions set forth below.

We have also attended various meetings of the District and have participated in conferences from time to time with representatives of the District, the District Engineer, the District Manager, the Assessment Consultant, the Underwriter, Bond Counsel, counsel to the Underwriter, the Landowner, counsel to the Landowner, and others relative to the Limited Offering Memorandum and the related documents described herein.
RELIANCE

This opinion is solely for the benefit of the (i) District; (ii) Underwriter; and (iii) Trustee; however, the Trustee may only rely on this opinion for the limited purposes of the opinions stated in Sections C.1,
C.2 and C.3. This opinion may not be relied on by any other party or for any other purpose without our prior written consent.

OPINIONS

Based on the foregoing, and subject to the qualifications and assumptions set forth herein, we are of the opinion that:

Authority – Under the Florida Constitution and laws of the State, the District has been duly established and validly exists as a local unit of special purpose government and a community development district under Chapter 190, Florida Statutes (the "Act"), with such powers as set forth in the Act, and with good, right and lawful authority: (a) to enter into and to consummate the transactions contemplated by the Bond Resolution, the Assessment Resolution, the Indenture, the Series 2023 Bonds and the Bond Agreements; (b) to issue the Series 2023 Bonds for the purposes for which they are issued; (c) to impose, levy, collect and enforce the Debt Assessments and pledge the Pledged Revenues to secure the Series 2023 Bonds as provided in the Indenture; (d) to adopt the Bond Resolution and the Assessment Resolution; and
(e) to perform its obligations under the terms and conditions of the Bond Resolution, the Assessment Resolution, the Bond Agreements, the Series 2023 Bonds and the Indenture.

Assessments – The proceedings by the District with respect to the Debt Assessments have been in accordance with Florida law. The District has taken all action necessary to levy and impose the Debt Assessments as set forth in the Assessment Resolution, Assessment Methodology, and/or other applicable documents. The Debt Assessments constitute legal, valid, binding and enforceable first liens upon the property against which such Debt Assessments are assessed, co-equal with the lien of all state, county, district and municipal taxes and assessments, and superior in dignity to all other liens, titles and claims, until paid.

Agreements – The (a) Bond Resolution, (b) Assessment Resolution, (c) Bonds, (d) Indenture, and (e) Bond Agreements (assuming due authorization, execution and delivery of documents (c) – (e) listed herein by any parties thereto other than the District) have been duly and validly authorized, executed and delivered by the District, have been duly approved and adopted and/or issued by the District, are in full force and effect, constitute legal, valid and binding obligations of the District, and are enforceable against the District in accordance with their respective terms. All conditions prescribed in the Indenture as precedent to the issuance of the Series 2023 Bonds have been fulfilled.

Validation – The Series 2023 Bonds have been validated by a final judgment of the Circuit Court in and for Polk County, Florida, of which no timely appeals were filed.

Governmental Approvals – As of the date hereof, all necessary consents, approvals, waivers or other actions by or filings with any governmental authority or other entity that are required for:
(a) the adoption of the Bond Resolution and the Assessment Resolution; (b) the issuance, sale, execution and delivery of the Series 2023 Bonds upon the terms set forth in the BPA, PLOM, and LOM; (c) the execution and delivery of the Indenture and Bond Agreements; and (d) the performance by the District of the transactions required hereby, have been duly obtained or made and are in full force and effect.

PLOM and LOM – The District has duly authorized the execution, delivery and distribution by the Underwriter of the PLOM and LOM. To our knowledge, and based upon our review of
the PLOM and LOM and without having undertaken to determine independently the accuracy, completeness or fairness of the statements contained in the PLOM and LOM, and as of the date of their respective issuances, and with respect to the PLOM, the date of the BPA, and with respect to the LOM, the date hereof, nothing has come to our attention which would lead us to believe that the PLOM and LOM contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein, in light of the circumstances under which they were made, not misleading, provided however that the opinions stated herein extend only to the following provisions of the PLOM and LOM: "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS – Prepayment
of Series 2023 Special Assessments" (as to the first two paragraphs thereof), "ENFORCEMENT OF ASSESSMENT COLLECTIONS," "THE DISTRICT" (excluding the subcaption "The District Manager and Other Consultants"), "THE DEVELOPMENT – Landowner Agreements" (solely as to the description of  the  agreements),  "AGREEMENT  BY  THE  STATE,"  "LEGALITY  FOR  INVESTMENT,"
"LITIGATION – The District," "CONTINUING DISCLOSURE" (as it relates to the District only), "VALIDATION," and "AUTHORIZATION AND APPROVAL," and further provided however that the opinions stated herein do not extend to any statements that constitute descriptions of the Series 2023 Bonds or the Indenture. No information or opinion is offered as to any remaining provisions of the PLOM or LOM.

Litigation – As the District's Registered Agent for service of process and the fact that we have not been served with notice, there is no litigation pending or, to the best of our knowledge, threatened against the District: (a) seeking to restrain or enjoin the issuance or delivery of the Series 2023 Bonds or the application of the proceeds thereof, or the imposition, levy or collection of the Debt Assessments or the Pledged Revenues pledged for the payment of the debt service on the Series 2023 Bonds; (b) contesting or affecting the authority for the Debt Assessments, the authority for the issuance of the Series 2023 Bonds or the validity or enforceability of the Series 2023 Bonds, the Indenture, the Bond Agreements or the transactions contemplated thereunder; (c) contesting or affecting the establishment or existence of the District or any of its Supervisors, officers or employees, its assets, property or condition, financial or otherwise, or contesting or affecting any of the powers of the District, including its power to enter into the Indenture or the Bond Agreements, or its power to determine, assess, levy, collect and pledge the Debt Assessments for the payment of the debt service on the Series 2023 Bonds; or (d) specifically contesting the exclusion from federal gross income of interest on the Series 2023 Bonds.

Compliance with Laws – To the best of our knowledge, the District is not, in any manner material to the issuance of the Series 2023 Bonds or the Debt Assessments, in breach of or default under any applicable provision of the Act or constitutional provision, statute, or administrative regulation of the State of Florida, or any applicable judgment or decree, any loan agreement, indenture, bond, note, resolution, agreement (including the Bond Agreements and Indenture), or any other material instrument to which the District is a party or to which the District or any of its property or assets is otherwise subject, and to the best of our knowledge, no event has occurred and is continuing which with the passage of time or the giving of notice, or both, would constitute a material default or event of default by the District under any such instrument; provided, however, that no opinion is expressed as to compliance with any state or federal tax or securities laws.

Authority to Undertake Series 2023 Project – The District has good right and lawful authority under the Act to undertake, finance, acquire, construct, own, and operate the Series 2023 Project, subject to obtaining such licenses, orders or other authorizations as are, at the date of such opinion, required to be obtained from any agency or regulatory body.

CERTAIN ASSUMPTIONS

In rendering the foregoing opinions, we have assumed the following: (1) that all public records, certifications, agreements and other documents examined by us that have been executed or certified by
public officials acting within the scope of their official capacities are authentic, truthful and accurate; (2) that copies of such public records, certifications, agreements, and other documents furnished to us are authentic and conform to the originals; (3) that all signatures on executed public records, certifications, agreements and other documents are genuine; and (4) that all public records, certifications, agreements and other documents have been properly authorized and are binding on each of the other parties thereto. Such assumptions do not apply to District documents.

CERTAIN QUALIFICATIONS

The foregoing opinions are subject to the following qualifications:

The opinions or statements expressed above are based solely on the laws of Florida in effect at the time of issuance of the Series 2023 Bonds. Accordingly, we express no opinion nor make any statement regarding the effect or application of the laws of the federal government (including but not limited to the Internal Revenue Code or any proposed changes thereto), or any other state or other jurisdiction.

Our opinion as to enforceability of any document is subject to limitations imposed by bankruptcy, insolvency, reorganization, moratorium, liquidation, readjustment of debt, or similar laws, relating to or affecting creditors' rights generally and general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and to the exercise of judicial discretion in appropriate cases, including the fact that specific performance and other equitable remedies are granted only in the discretion of a court.

Nothing herein shall be construed as an opinion regarding the possible applicability of state securities or "blue sky" laws or federal securities laws, as to which no opinion is expressed.

We further express no opinion as to the necessity for an interest rate waiver under Florida law, or the applicability of any provision or section of the Internal Revenue Code. We express no opinion as to compliance with any state or federal tax laws.

We express no opinion and make no representations regarding financial information, statistical data, or assessment and benefit calculations.

We have not reviewed, and therefore express no opinion, regarding any land use, real property or other related items, including but not limited to whether the Landowner is able to convey good and marketable title to any particular real property or interest therein and related to the Series 2023 Project.

With respect to any of the opinions set forth in this letter which are based on or qualified by the phrase "to our knowledge," the words "to our knowledge" signify that, in the course of our representation of the District, no facts have come to our attention that would give us actual knowledge that any such opinions or other matters are not accurate. Except to the extent expressly set forth herein, we have not undertaken any independent investigation to determine the existence or absence of any such facts, and no inference as to our knowledge of the existence of such facts should be drawn from the fact of our representation of District.

The opinions set forth herein are based on factual representations made to us as of the date hereof. We assume no duty to update or supplement our opinions to reflect any facts or circumstances that may thereafter come to our attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, our opinions are not a guarantee of a particular result, and are not binding on the courts or any other entity; rather, our opinions represent our professional judgment based on our review of existing law, and in reliance on the representations and covenants that we deem relevant to such opinions
Very truly yours,

KILINSKI | VAN WYK PLLC
EXHIBIT E

LANDOWNER'S COUNSEL'S OPINION

[	], 2023

Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

FMSbonds, Inc.
North Miami Beach, Florida

U.S. Bank Trust Company, National Association Fort Lauderdale, Florida

Greenberg Traurig, P.A.
Miami, Florida

GrayRobinson, P.A.
Tampa, Florida

Re:	$[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds")

Ladies and Gentlemen:

I am counsel to ST DEV PARTNERS, LLC, a Florida limited liability company (the "Landowner"), the owner and developer of certain land which is located in the Town of Lake Hamilton, Florida, within Polk County, Florida, and is being developed as part of a single-family residential community to be known as "Scenic Terrace," as such lands are described in the Limited Offering Memoranda (as hereinafter defined). This opinion is rendered at the request of the Landowner in connection with the issuance by the Scenic Terrace South Community Development District (the "District") of the above-referenced Bonds, as further described in the District's Preliminary Limited Offering Memorandum dated [	], 2023 and the District's final Limited Offering Memorandum, dated [	], 2023, including the appendices attached thereto (collectively, the "Limiting Offering Memoranda"). Capitalized terms not defined herein shall have the meaning set forth in the Limited Offering Memoranda.

It is my understanding that the Series 2023 Bonds are being issued for the purposes of: (i) providing funds to pay a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, (ii) funding a deposit to the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement, (iii) paying a portion of the interest coming due on the Series 2023 Bonds and (iv) paying the costs of issuance of the Series 2023 Bonds.

In my capacity as counsel to the Landowner, I have examined originals or copies identified to my satisfaction as being true copies of the Limiting Offering Memoranda, the Continuing Disclosure Agreement to be dated as of the Closing Date (the "Continuing Disclosure Agreement"), by and among the District, the Landowner, and Governmental Management Services – Central Florida, LLC, as dissemination agent, the Agreement Regarding the Completion of Certain Improvements by and between the District and the Landowner dated as of the Closing Date (the "Completion Agreement"), the Agreement Regarding the
Acquisition of Work Product, Improvements and Real Property by and between the District and the Landowner dated as of the Closing Date (the "Acquisition Agreement"), the Collateral Assignment and Assumption of Development Rights Relating to the Series 2023 Project by and between the District and the Landowner dated as of the Closing Date (the "Collateral Assignment"), the Agreement Regarding True-Up by and between the District and the Landowner dated as of the Closing Date (the "True-Up Agreement"), and the Declaration of Consent to Jurisdiction of the District, Imposition of Special Assessments and Imposition of Lien of Record dated as of the Closing Date and executed by the Landowner (the "Declaration of Consent") (collectively, the "Documents") and have made such examination of law as I have deemed necessary or appropriate in rendering this opinion. In connection with the forgoing, I also have reviewed and examined the Landowner's Operating Agreement dated as of June 15, 2022, its Articles of Organization filed on May 18, 2022, and a certificate of good standing issued by the State of Florida on [	], 2023 (collectively, the "Organizational Documents").

In rendering this opinion, I have assumed, without having made any independent investigation of the facts, the genuineness of all signatures (other than those of the Landowner) and the authenticity of all documents submitted to me as originals and the conformity to original documents of all documents submitted to me as certified, conformed or photostatic copies, and the legal capacity of all natural persons.

In basing the opinions set forth in this opinion on "my knowledge," the words "my knowledge" signify that, in the course of my representation of Landowner, no facts have come to my attention that would give me actual knowledge or actual notice that any such opinions or other matters are not accurate. Except as otherwise stated in this opinion, I have undertaken no investigation or verification of such matters.

Based on the forgoing, I am of the opinion that:

The Landowner is a limited liability company organized and existing under the laws of the State of Florida.

The Landowner has the power to conduct its business and to undertake the funding of the development of the Series 2023 Assessment Area within the District as described in the Limited Offering Memoranda and to enter into the Documents.

The Documents have been duly authorized, executed and delivered by the Landowner and are in full force and effect. Assuming the due authorization, execution and delivery of such instruments by the other parties thereto and their authority to perform such instruments, the Documents constitute legal, valid and binding obligations of the Landowner, enforceable in accordance with their respective terms.

Nothing has come to my attention that would lead me to believe the information contained in the Limited Offering Memoranda under the captions "THE DEVELOPMENT," "THE LANDOWNER," "LITIGATION – The Landowner," and "CONTINUING DISCLOSURE" (as it relates to the Landowner only) does not accurately and fairly present the information purported to be shown or contains any untrue statement of a material fact nor omits to state any material fact necessary to make the statement made therein, in light of the circumstances under which they were made, not misleading as of the dates of the Limited Offering Memoranda or as of the date hereof.

The execution, delivery and performance of the Documents by the Landowner do not violate (i) the operating agreement of the Landowner, (ii) to my knowledge, any agreement, instrument or Federal or Florida law, rule or regulation known to me to which the Landowner is a party or by which any of the Landowner's assets are or may be bound; or (iii) to my knowledge, any judgment, decree or order of any administrative tribunal, which judgment, decree, or order is binding on the Landowner or its assets.
Nothing has come to my attention that would lead me to believe that the Landowner is not in compliance in all material respects with all provisions of applicable law in all material matters relating to such entity as described in the Limited Offering Memoranda. Except as otherwise described in the Limited Offering Memoranda, (a) I have no knowledge that the Landowner has not received all government permits, consents and licenses required in connection with the construction and completion of the Series 2023 Project and the development of the Series 2023 Assessment Area within the District as described in the Limited Offering Memoranda; (b) I have no knowledge of any default of any zoning condition, land use permit or development agreement which would adversely affect the Landowner's ability to complete the Series 2023 Project or the development of the Series 2023 Assessment Area within the District as described in the Limited Offering Memoranda and all appendices thereto; and (c) I have no knowledge and am not otherwise aware of any reason to believe that any permits, consents and licenses required to complete the Series 2023 Project or the development of the Series 2023 Assessment Area within the District as described in the Limited Offering Memoranda will not be obtained in due course as required by the Landowner.

To the best of my knowledge after due inquiry, the levy of the Series 2023 Special Assessments on the applicable lands within the District will not conflict with or constitute a breach of or default under any agreement, indenture or other instrument to which the Landowner is a party or to which the Landowner or any of its property or assets are subject.

To the best of my knowledge after due inquiry, there is no litigation pending which would prevent or prohibit the development of the Series 2023 Project or the Series 2023 Assessment Area within the District in accordance with the descriptions thereof in the Limited Offering Memoranda and the Engineer's Report annexed thereto or which may result in any material adverse change in the business, properties, assets or financial condition of the Landowner.

To the best of my knowledge after due inquiry, the Landowner has not made an assignment for the benefit of creditors, filed a petition in bankruptcy, petitioned or applied to any tribunal for the appointment of a custodian, receiver or any trustee or commenced any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction. To the best of my knowledge after due inquiry, the Landowner has not indicated its consent to, or approval of, or failed to object timely to, any petition in bankruptcy, application or proceeding or order for relief or the appointment of a custodian, receiver or any trustee.

To the best of my knowledge after due inquiry, the Landowner is in default under any mortgage, trust indenture, lease or other instrument to which it or any of its assets are subject, which default would have a material adverse effect on the Series 2023 Bonds or the development of the Series 2023 Project or the Series 2023 Assessment Area within the District.

This opinion is given as of the date hereof, and I disclaim any obligation to update this opinion letter for events occurring after the date of this opinion letter. The foregoing opinion applies only with respect to the laws of the State of Florida and the federal laws of the United States of America and I express no opinion with respect to the laws of any other jurisdiction. Nothing herein shall be construed as an opinion regarding the possible applicability of state securities or "blue sky" laws, as to which no opinion is expressed. This letter is for the benefit of and may be relied upon solely by the addressees and this opinion may not be relied upon in any manner, nor used, by any other persons or entities.

My opinion as to enforceability of any document is subject to limitations imposed by bankruptcy, insolvency, reorganization, moratorium, liquidation, readjustment of debt, or similar laws relating to or affecting creditor's rights generally and general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law), and to the exercise of judicial discretion in appropriate cases.

Very truly yours,

STRAUGHN & TURNER, P.A.
EXHIBIT F

FORM OF CERTIFICATE OF LANDOWNER

ST DEV PARTNERS, LLC, a Florida limited liability company (the "Landowner"), DOES HEREBY CERTIFY, that:

This Certificate of the Landowner is furnished pursuant to Section 8(c)(10) of the Bond Purchase Contract dated [	], 2023 (the "Purchase Contract") between Scenic Terrace South Community Development District (the "District") and FMSbonds, Inc. (the "Underwriter") relating to the sale by the District of its $[		] original aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract.

The Landowner is a limited liability company organized and existing under the laws of the State of Florida.

	Representatives of the Landowner have provided information to the District to be used in connection with the offering by the District of its Series 2023 Bonds, pursuant to a Preliminary Limited Offering Memorandum dated [	], 2023 and the Limited Offering Memorandum, dated [	], 2023, including the appendices attached thereto (collectively, the "Limited Offering Memoranda").

The Continuing Disclosure Agreement dated [	], 2023 (the "Closing Date"), by and among the District, the Landowner, and Governmental Management Services – Central Florida, LLC, as dissemination agent, the Agreement Regarding the Completion of Certain Improvements by and between the District and the Landowner dated as of the Closing Date, the Agreement Regarding the Acquisition of Work Product, Improvements and Real Property by and between the District and the Landowner dated as of the Closing Date, the Collateral Assignment and Assumption of Development Rights Relating to the Series 2023 Project by and between the District and the Landowner dated as of the Closing Date, the Agreement Regarding True-Up by and between the District and the Landowner dated as of the Closing Date and the Declaration of Consent to Jurisdiction of Scenic Terrace South Community Development District and to Imposition of Special Assessments dated the Closing Date, executed by the Landowner and to be recorded in the public records of Polk County, Florida, constitute valid and binding obligations of the Landowner, enforceable against the Landowners in accordance with their respective terms.

The Landowner has reviewed and approved the information contained in the Limited Offering Memoranda under the captions "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2023 PROJECT," "THE DEVELOPMENT," "THE LANDOWNER," "BONDOWNERS' RISKS" (as it
relates to the Landowner, the Development and non-specific Bondholder risks), "LITIGATION – The Landowner" and "CONTINUING DISCLOSURE" (as it relates to the Landowner) and warrant and represent that such information did not as of their respective dates, and does not as of the date hereof, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In addition, the Landowner is not aware of any other information in the Limited Offering Memoranda that contains an untrue statement of a material fact or omits to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.
The Landowner represents and warrants that it has complied with and will continue to comply with Chapter 190.048, Florida Statutes, as amended.

As of the date hereof, there has been no material adverse change in the business, properties, assets or financial condition of the Landowner which has not been disclosed in the Limited Offering Memoranda.

The Landowner hereby represents that it owns that the lands in the District that will be subject to the Series 2023 Special Assessments as described in the Limited Offering Memoranda, and the Landowner hereby consents to the levy of the Series 2023 Special Assessments on the lands in the Series 2023 Assessment Area owned by the Landowner. The levy of the Series 2023 Special Assessments on the lands in the Series 2023 Assessment Area will not conflict with or constitute a breach of or default under any agreement, mortgage, lien or other instrument to which either of the Landowner is a party or to which their respective properties or assets are subject.

The Landowner has not made an assignment for the benefit of creditors, filed a petition in bankruptcy, petitioned or applied to any tribunal for the appointment of a custodian, receiver or any trustee or commenced any proceeding under any bankruptcy, reorganization, arrangement, readjustment of debt, dissolution or liquidation law or statute of any jurisdiction. The Landowner has not indicated its consent to, or approval of, or failed to object timely to, any petition in bankruptcy, application or proceeding or order for relief or the appointment of a custodian, receiver or any trustee.

The Landowner acknowledges that the Series 2023 Bonds have the debt service requirements set forth in the Limited Offering Memorandum and that the Series 2023 Special Assessments will be levied by the District at times, and in amounts sufficient, to enable the District to pay debt service on the Series 2023 Bonds when due.

To the best of our knowledge, the Landowner is not in default under any other resolution, ordinance, agreement or indenture, mortgage, lease, deed of trust, note or other instrument to which the Landowner is subject or by which the Landowner or its properties are or may be bound, which would have a material adverse effect on the consummation of the transactions contemplated by the Financing Documents, Ancillary Documents, the Declaration of Consent or on the Development. The Landowner is current in the payment of all ad valorem, federal and state taxes associated with the Development.

Except as otherwise disclosed in the Limited Offering Memoranda, there is no action, suit or proceedings at law or in equity by or before any court or public board or body pending or, solely to the best of our knowledge, threatened against the Landowner (or any basis therefor) (a) seeking to restrain or enjoin the execution or delivery of Financing Documents, Declaration of Consent and/or Ancillary Documents to which the Landowner is a party, (b) contesting or affecting the validity or enforceability of the Financing Documents, Declaration of Consent and/or Ancillary Documents, or any and all such other agreements or documents as may be required to be executed, or the transactions contemplated thereunder,
(c) contesting or affecting the establishment or existence of the Landowner or of the Landowner's business, assets, property or conditions, financial or otherwise, or contesting or affecting any of the powers of the Landowner, or (d) that would have a material and adverse effect upon the ability of the Landowner to (i) complete the development of the Series 2023 Assessment Area within the District as described in the Limited Offering Memoranda, (ii) pay the Series 2023 Special Assessments, or (iii) perform its various obligations as described in the Limited Offering Memoranda.

To the best of our knowledge after due inquiry, the Landowner is in compliance in all material respects with all provisions of applicable law in all material matters relating to the Development as described in the Limited Offering Memoranda, including applying for all necessary permits. Except as
otherwise described in the Limited Offering Memoranda, (a) the Series 2023 Assessment Area is zoned and properly designated for its intended use; (b) all government permits other than certain permits, which permits are expected to be received as needed, have been received; (c) the Landowner is not aware of any default of any zoning condition, permit or development agreement which would adversely affect the Landowner's ability to complete or cause the completion of the Series 2023 Project or the development of the Series 2023 Assessment Area as described in the Limited Offering Memoranda and all appendices thereto; and (d) there is no reason to believe that any permits, consents and licenses required to complete the Series 2023 Project or the development of the Series 2023 Assessment Area as described in the Offering Memoranda will not be obtained as required.

The Landowner acknowledges that it will have no rights under Chapter 170, Florida Statutes, as amended, to prepay, without interest, the Series 2023 Special Assessments imposed on lands in the Series 2023 Assessment Area owned by the Landowner within thirty (30) days following completion of the Series 2023 Project and acceptance thereof by the District.

[The Landowner has not previously entered into any continuing disclosure obligations pursuant to Rule 15c2-12, promulgated under the Securities Exchange Act of 1934, as amended.]

The Landowner is not in default of any obligations to pay special assessments, and the Landowner is not insolvent.

Dated: [	], 2023.	ST DEV PARTNERS, LLC, a Florida limited liability company

By: 	
[Albert S. Cassidy], its Manager
EXHIBIT G

CERTIFICATE OF ENGINEER

CERTIFICATE OF DEWBERRY ENGINEERS INC. (the "Engineers"), DOES HEREBY
CERTIFY, that:

	This certificate is furnished pursuant to Section 8(c)(17) of the Bond Purchase Contract dated [			], 2023 (the "Purchase Contract"), by and between Scenic Terrace South Community Development District (the "District") and FMSbonds, Inc. with respect to the District's $[	] original aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract or the Preliminary Limited Offering Memorandum dated [	], 2023 and the Limited Offering Memorandum, dated [	], 2023, including the appendices attached thereto, relating to the Series 2023 Bonds (collectively, the "Limited Offering Memoranda"), as applicable.

The Engineers have been retained by the District as consulting engineers.

The plans and specifications for the Series 2023 Project (as described in the Limited Offering Memoranda) were approved by all regulatory bodies required to approve them. All environmental and other regulatory permits or approvals required in connection with the construction of the Series 2023 Project were obtained or are expected to be obtained in the ordinary course.

The Engineers prepared the report entitled "Engineer's Report – Amended and Restated" dated May 16, 2023 (the "Report"). The Report was prepared in accordance with generally accepted engineering principles. The Report is included as "APPENDIX A: ENGINEER'S REPORT" to the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum and a description of the Report and certain other information relating to the Series 2023 Project are included in the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum under the captions "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2023 PROJECT" and "THE DEVELOPMENT."
The Report and said information are true and complete in all material respects, contain no untrue statement of a material fact, and do not omit to state a material fact necessary to make the statements made therein, in light of the circumstances under which they were made, not misleading.

The Engineers hereby consent to the inclusion of the Report as "APPENDIX A: ENGINEER'S REPORT" to the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum and to the references to the Engineers in the Preliminary Limited Offering Memorandum and the Limited Offering Memorandum.

The Series 2023 Project is being constructed in sound workmanlike manner and in accordance with industry standards.

The price being paid by the District to the Landowner for acquisition of the improvements included within the Series 2023 Project will not exceed the lesser of the cost of the Series 2023 Project or the fair market value of the assets acquired by the District.

To the best of our knowledge, after due inquiry, the Landowner is in compliance in all material respects with all provisions of applicable law in all material matters relating to the Landowner and the development of the Series 2023 Assessment Area as described in the Limited Offering Memoranda.
Except as otherwise described in the Limited Offering Memoranda, (a) all government permits required in connection with the construction of the Series 2023 Project and the development of the Series 2023 Assessment Area, as described in the Limited Offering Memoranda, have been received or are expected to be received in the ordinary course; (b) we are not aware of any default of any zoning condition, land use permit or development agreement which would adversely affect the ability to complete the Series 2023 Project or the development of the Series 2023 Assessment Area as described in the Limited Offering Memoranda and all appendices thereto; and (c) we have no actual knowledge and are not otherwise aware of any reason to believe that any permits, consents and licenses required to complete the Series 2023 Project and the development of the Series 2023 Assessment Area as described in the Limited Offering Memoranda and all appendices thereto will not be obtained in due course as required by the Landowner, or any other person or entity.

There is adequate water and sewer service capacity to serve the Series 2023 Assessment Area within the District.

Date: [	], 2023

DEWBERRY ENGINEERS INC.

By: 	 Print Name:	 Title:	
EXHIBIT H

CERTIFICATE OF DISTRICT MANAGER AND METHODOLOGY CONSULTANT

[	], 2023

Scenic Terrace South Community Development District Town of Lake Hamilton, Florida

FMSbonds, Inc.
North Miami Beach, Florida

Re:	$[	] Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project)

Ladies and Gentlemen:

The undersigned representative of Governmental Management Services – Central Florida, LLC ("GMS"), DOES HEREBY CERTIFY:

This certificate is furnished pursuant to Section 8(c)(18) and (29) of the Bond Purchase Contract dated [		], 2023 (the "Purchase Contract"), by and between Scenic Terrace South Community Development District (the "District") and FMSbonds, Inc. with respect to the District's
$[	] original aggregate principal amount of Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds"). Capitalized terms used, but not defined, herein shall have the meaning assigned thereto in the Purchase Contract or the Limited Offering Memoranda relating to the Series 2023 Bonds, as applicable.

GMS has acted as district manager and methodology consultant to the District in connection with the sale and issuance by the District of its Series 2023 Bonds and has participated in the preparation of the Preliminary Limited Offering Memorandum dated [	], 2023 and the Limited Offering Memorandum, dated [	], 2023, including the appendices attached thereto (collectively, the "Limited Offering Memoranda").

In connection with the issuance of the Series 2023 Bonds, we have been retained by the District to prepare the Master Assessment Methodology for Scenic Terrace South Community Development District dated October 13, 2021, as supplemented by the Supplemental Assessment Methodology for Series 2023 for Scenic Terrace South Community Development District dated [	], 2023 (collectively, the "Assessment Methodology"), which Assessment Methodology has been included as an appendix to the Limited Offering Memoranda. We hereby consent to the use of the Assessment Methodology in the Limited Offering Memoranda and consent to the references to us therein.

As District Manager, nothing has come to our attention that would lead us to believe that the Limited Offering Memoranda, as they relate to the District, the Series 2023 Project, or any information provided by us, and the Assessment Methodology, as of their respective dates and as of this date, contained or contains any untrue statement of a material fact or omitted or omits to state a material fact necessary to be stated therein in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.
The information set forth in the Limited Offering Memoranda under the subcaptions "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS," "THE
DISTRICT," "FINANCIAL STATEMENTS," "LITIGATION" (insofar as such description relates to the District), "DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS," "CONTINUING DISCLOSURE," "CONTINGENT FEES," and in "APPENDIX D: ASSESSMENT METHODOLOGY"
did not as of the respective dates of the Limited Offering Memoranda and does not as of the date hereof contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

To the best of our knowledge, there has been no change which would materially adversely affect the assumptions made or the conclusions reached in the Assessment Methodology, and the considerations and assumptions used in compiling the Assessment Methodology are reasonable. The Assessment Methodology and the assessment methodology set forth therein were prepared in accordance with all applicable provisions of Florida law.

As District Manager for the District, we are not aware of any litigation pending or, to the best of our knowledge, threatened against the District restraining or enjoining the issuance, sale, execution or delivery of the Series 2023 Bonds, or in any way contesting or affecting the validity of the Series 2023 Bonds or any proceedings of the District taken with respect to the issuance or sale thereof, or the pledge or application of any moneys or security provided for the payment of the Series 2023 Bonds, or the existence or powers of the District.

The Series 2023 Special Assessments, as initially levied and as may be reallocated from time to time as permitted by resolutions adopted by the District, are sufficient to enable the District to pay the debt service on the Series 2023 Bonds through the final maturity thereof.

GMS hereby acknowledges its agreement to serve as the Dissemination Agent for the District for the Series 2023 Bonds and undertake the obligations of the Dissemination Agent as set forth in the Continuing Disclosure Agreement dated [	], 2023 (the "Disclosure Agreement") by and among the District, ST DEV PARTNERS, LLC, and GMS, as Dissemination Agent, and acknowledged by GMS, as District Manager, and U.S. Bank Trust Company, National Association, as trustee. GMS hereby represents that it is aware of the continuing disclosure requirements set forth in the Disclosure Agreement and Rule 15c2-12 promulgated under the Securities Act of 1933, as amended, that it has policies and procedures in place to ensure its compliance with its obligations under the Disclosure Agreement, and that it will comply with its obligations under the Disclosure Agreement.

Dated: [	], 2023.	GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, a
Florida limited liability company

By: 	 Name: 	 Title: 	
EXHIBIT C

FORM OF PRELIMINARY LIMITED OFFERING MEMORANDUM

C-1

PRELIMINARY LIMITED OFFERING MEMORANDUM DATED [	], 2023
NEW ISSUES - BOOK-ENTRY-ONLY	NOT RATED
LIMITED OFFERING

In the opinion of Greenberg Traurig, P.A., Bond Counsel, assuming the accuracy of certain representations and certifications and the continuing compliance with certain tax covenants, under existing statutes, regulations, rulings and court decisions, interest on the Series 2023 Bonds (as hereinafter defined) is excludable from gross income for federal income tax purposes; and, further, interest on the Series 2023 Bonds will not be an item of tax preference for purposes of the alternative minimum tax imposed on individuals. In the case of the alternative minimum tax imposed by Section 55(b)(2) of the Internal Revenue Code of 1986, as amended (the "Code") on applicable corporations (as defined in Section 59(k) of the Code), interest on the Series 2023 Bonds is not excluded from the determination of adjusted financial statement income. See "TAX MATTERS" herein for a description of certain other federal tax consequences of ownership of the Series 2023 Bonds. Bond Counsel is further of the opinion that the Series 2023 Bonds and the interest thereon are not subject to taxation under the laws of the State of Florida, except as to estate taxes and taxes under Chapter 220, Florida Statutes, on interest, income or profits on debt obligations owned by corporations as defined in said Chapter 220. See "TAX MATTERS" herein.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (TOWN OF LAKE HAMILTON, FLORIDA)

$[	]*
SPECIAL ASSESSMENT BONDS, SERIES 2023 (SERIES 2023 PROJECT)
Dated: Date of Delivery	Due: As described herein

The Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds") are being issued by the Scenic Terrace South Community Development District (the "District" or the "Issuer") in fully registered form, without coupons, in authorized denominations of $5,000 and any integral multiple thereof. The Series 2023 Bonds will bear interest at the fixed rates set forth in the inside cover page hereof, calculated on the basis of a 360-day year comprised of twelve 30-day months, payable semi- annually on each May 1 and November 1, commencing November 1, 2023. The Series 2023 Bonds, when issued, will be registered in the name of Cede & Co., as nominee for The Depository Trust Company ("DTC"), New York, New York. Purchases of beneficial interests in the Series 2023 Bonds will be made in book-entry-only form and purchasers of beneficial interests in the Series 2023 Bonds will not receive physical bond certificates. For so long as the book-entry only system is maintained, the principal of and interest on the Series 2023 Bonds will be paid from the sources provided by the Indenture (as defined herein) by U.S. Bank Trust Company, National Association, as trustee (the "Trustee"), to Cede & Co., as nominee of DTC, as the registered owner thereof. Disbursement of such payments to the DTC Participants is the responsibility of DTC and disbursement of such payments to the beneficial owners is the responsibility of the DTC Participants and Indirect Participants, as more fully described herein. Any purchaser, as a beneficial owner of an Series 2023 Bond, must maintain an account with a broker or dealer who is, or acts through, a DTC Participant in order to receive payment of the principal of, premium, if any, and interest on such Series 2023 Bond. See "DESCRIPTION OF THE SERIES 2023 BONDS – Book-Entry Only System" herein.

The Series 2023 Bonds are being issued for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project (as defined herein), (ii) funding a deposit to the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement (each as defined herein), (iii) paying a portion of the interest coming due on the Series 2023 Bonds and (iv) paying the costs of issuance of the Series 2023 Bonds. See "ESTIMATED SOURCES AND USES OF FUNDS" herein.

The District is a local unit of special-purpose government of the State of Florida (the "State"), created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and by Ordinance No. O-21-19 enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town") on October 5, 2021, as amended by Ordinance No. O-23-05 enacted on May 2, 2023 (collectively, the "Ordinance"). The Series 2023 Bonds are being issued pursuant to the Act, Resolution No. 2022-26 and Resolution No. 2023-[16] adopted by the Board of Supervisors (the "Board") of the District on October 13, 2021 and [August 16], 2023 (collectively, the "Resolution"), and a Master Trust Indenture dated as of April 1, 2022 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture, dated as of [	] 1, 2023 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and the Trustee. Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Indenture. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE"
hereto.

The Series 2023 Bonds are payable from and secured solely by the Series 2023 Pledged Revenues. The Series 2023 Pledged Revenues for the Series 2023 Bonds consist of (a) all revenues received by the District from the Series 2023 Special Assessments levied and collected on the assessable lands within the Series 2023 Assessment Area (as such terms are defined herein), benefitted by the Series 2023 Project, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2023 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2023 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2023 Bonds; provided, however, that the Series 2023 Pledged Revenues shall not include (A) any moneys transferred to the Series 2023 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022, of the Act, for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Indenture shall not
apply to any of the moneys described in the foregoing clauses of (A), (B) and (C) of this proviso). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS" herein.

The Series 2023 Bonds are subject to optional redemption, mandatory sinking fund redemption and extraordinary mandatory redemption at the times, in the amounts, and at the redemption prices more fully described herein under the caption "DESCRIPTION OF THE SERIES 2023 BONDS ‒ Redemption Provisions" herein.

THE SERIES 2023 BONDS ARE LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM THE SERIES 2023 PLEDGED REVENUES PLEDGED THEREFOR UNDER THE INDENTURE, AND NEITHER THE PROPERTY, THE FULL FAITH AND CREDIT, NOR THE TAXING POWER OF THE DISTRICT, THE TOWN, POLK COUNTY, FLORIDA (THE "COUNTY"), THE STATE OF FLORIDA (THE "STATE"), OR ANY OTHER POLITICAL SUBDIVISION THEREOF, IS PLEDGED AS SECURITY FOR THE PAYMENT OF THE SERIES 2023 BONDS, EXCEPT THAT THE DISTRICT IS OBLIGATED UNDER THE INDENTURE TO LEVY AND TO EVIDENCE AND CERTIFY, OR CAUSE TO BE CERTIFIED, FOR COLLECTION SERIES 2023 SPECIAL ASSESSMENTS TO SECURE AND PAY THE SERIES 2023 BONDS. THE SERIES 2023 BONDS DO NOT CONSTITUTE AN INDEBTEDNESS OF THE DISTRICT, THE COUNTY, THE CITY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION.

The Series 2023 Bonds involve a degree of risk (see "BONDOWNERS' RISKS" herein) and are not suitable for all investors (see "SUITABILITY FOR INVESTMENT" herein). Pursuant to Florida law, the Underwriter (as defined herein) is limiting this offering to "accredited investors" within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder. The limitation of the initial offering to accredited investors does not denote restrictions on transfers in any secondary market for the Series 2023 Bonds. The Series 2023 Bonds are not credit enhanced or rated and no application has been made for a rating with respect to the Series 2023 Bonds.

This cover page contains certain information for quick reference only. It is not a summary of the Series 2023 Bonds. Investors must read this entire Limited Offering Memorandum to obtain information essential to the making of an informed investment decision.

MATURITY SCHEDULE

$	 – 	% Term Bond due 	 1, 20	, Yield 	%, Price 	 CUSIP # 	**
$	 – 	% Term Bond due 	 1, 20	, Yield 	%, Price 	 CUSIP # 	**
$	 – 	% Term Bond due 	 1, 20	, Yield 	%, Price 	 CUSIP # 	**
$	 – 	% Term Bond due 	 1, 20	, Yield 	%, Price 	 CUSIP # 	**

The Series 2023 Bonds are offered for delivery when, as and if issued by the District and accepted by the Underwriter, subject to the receipt of the opinion of Greenberg Traurig, P.A., Miami, Florida, Bond Counsel, as to the validity of the Series 2023 Bonds and the excludability of interest thereon from gross income for federal income tax purposes. Certain legal matters will be passed upon for the Underwriter by its counsel, GrayRobinson, P.A., Tampa, Florida, for the District by its counsel, Kilinski | Van Wyk PLLC, Tallahassee, Florida, and for the Landowner (as defined herein) by its counsel, Straughn & Turner, P.A., Winter Haven, Florida. It is expected that the Series 2023 Bonds will be delivered in book- entry form through the facilities of DTC on or about 	, 2023.

FMSbonds, Inc.
Dated: 	, 2023

*  Preliminary, subject to change.
** The District is not responsible for the use of CUSIP numbers, nor is any representation made as to their correctness. They are included solely for the convenience of the readers of this Limited Offering Memorandum.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

BOARD OF SUPERVISORS

Warren "Rennie" Heath II, Chair* Lauren Schwenk, Vice Chair* Patricia Hudson, Assistant Secretary* Daniel Arnette, Assistant Secretary* Chuck Cavaretta, Assistant Secretary*

* Affiliated with the Landowner or its affiliates

DISTRICT MANAGER AND METHODOLOGY CONSULTANT

Governmental Management Services – Central Florida, LLC Orlando, Florida

DISTRICT ENGINEER

Dewberry Engineers Inc.
Orlando, Florida

DISTRICT COUNSEL

Kilinski | Van Wyk PLLC Tallahassee, Florida

BOND COUNSEL

Greenberg Traurig, P.A. Miami, Florida
NO DEALER, BROKER, SALESPERSON OR OTHER PERSON HAS BEEN AUTHORIZED BY THE DISTRICT TO GIVE ANY INFORMATION OR TO MAKE ANY REPRESENTATIONS, OTHER THAN THOSE CONTAINED IN THIS LIMITED OFFERING MEMORANDUM, AND IF GIVEN OR MADE, SUCH OTHER INFORMATION OR REPRESENTATIONS MUST NOT BE RELIED UPON AS HAVING BEEN AUTHORIZED BY THE DISTRICT. THIS LIMITED OFFERING MEMORANDUM DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY OF THE SERIES 2023 BONDS AND THERE SHALL BE NO OFFER, SOLICITATION, OR SALE OF THE SERIES 2023 BONDS BY ANY PERSON IN ANY JURISDICTION IN WHICH IT IS UNLAWFUL FOR SUCH PERSON TO MAKE SUCH OFFER, SOLICITATION OR SALE.
THE INFORMATION SET FORTH HEREIN HAS BEEN OBTAINED FROM THE LANDOWNER (AS HEREINAFTER DEFINED), THE DISTRICT, PUBLIC DOCUMENTS, RECORDS AND OTHER SOURCES, WHICH SOURCES ARE BELIEVED TO BE RELIABLE BUT WHICH INFORMATION IS NOT GUARANTEED AS TO ACCURACY OR COMPLETENESS BY, AND IS NOT TO BE CONSTRUED AS A REPRESENTATION OF, THE UNDERWRITER NAMED ON THE COVER PAGE OF THIS LIMITED OFFERING MEMORANDUM. THE UNDERWRITER HAS REVIEWED THE INFORMATION IN THIS LIMITED OFFERING MEMORANDUM IN ACCORDANCE WITH, AND AS PART OF, ITS RESPONSIBILITIES TO INVESTORS UNDER THE FEDERAL SECURITIES LAWS AS APPLIED TO THE FACTS AND CIRCUMSTANCES OF THIS TRANSACTION, BUT THE UNDERWRITER DOES NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF SUCH INFORMATION. THE INFORMATION AND EXPRESSIONS OF OPINION HEREIN CONTAINED ARE SUBJECT TO CHANGE WITHOUT NOTICE AND NEITHER THE DELIVERY OF THIS LIMITED OFFERING MEMORANDUM, NOR ANY SALE MADE HEREUNDER, SHALL, UNDER ANY CIRCUMSTANCES, CREATE ANY IMPLICATION THAT THERE HAS BEEN NO CHANGE IN THE AFFAIRS OF THE DISTRICT OR THE LANDOWNER OR IN THE STATUS OF THE DEVELOPMENT OR THE SERIES 2023 PROJECT (AS SUCH TERMS ARE HEREINAFTER DEFINED) SINCE THE DATE HEREOF.
THE SERIES 2023 BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR HAS THE INDENTURE BEEN QUALIFIED UNDER THE TRUST INDENTURE ACT OF 1939, AS AMENDED, IN RELIANCE UPON CERTAIN EXEMPTIONS SET FORTH IN SUCH ACTS. THE REGISTRATION, QUALIFICATION OR EXEMPTION OF THE SERIES 2023 BONDS IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAW PROVISIONS OF ANY JURISDICTIONS WHEREIN THESE SECURITIES HAVE BEEN OR WILL BE REGISTERED, QUALIFIED OR EXEMPTED SHOULD NOT BE REGARDED AS A RECOMMENDATION THEREOF. NEITHER THE DISTRICT, THE TOWN, THE COUNTY, THE STATE, NOR ANY OTHER POLITICAL SUBDIVISIONS THEREOF HAVE GUARANTEED OR PASSED UPON THE MERITS OF THE SERIES 2023 BONDS, UPON THE PROBABILITY OF ANY EARNINGS THEREON OR UPON THE ACCURACY OR ADEQUACY OF THIS LIMITED OFFERING MEMORANDUM.
"FORWARD-LOOKING STATEMENTS" ARE USED IN THIS DOCUMENT BY USING FORWARD LOOKING WORDS SUCH AS "MAY," "WILL," "SHOULD," "INTENDS," "EXPECTS," "BELIEVES," "ANTICIPATES," "ESTIMATES," OR OTHERS. THE READER IS CAUTIONED THAT FORWARD-LOOKING STATEMENTS ARE SUBJECT TO A VARIETY OF UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER FROM THE PROJECTED RESULTS. THOSE RISKS AND UNCERTAINTIES INCLUDE GENERAL ECONOMIC AND BUSINESS CONDITIONS, CONDITIONS IN THE FINANCIAL MARKETS AND REAL ESTATE MARKET, THE DISTRICT'S COLLECTION OF SERIES 2023 SPECIAL ASSESSMENTS, AND VARIOUS OTHER FACTORS WHICH MAY BE BEYOND THE DISTRICT'S AND THE LANDOWNER CONTROL. BECAUSE THE DISTRICT AND THE LANDOWNER CANNOT PREDICT ALL FACTORS THAT
MAY AFFECT FUTURE DECISIONS, ACTIONS, EVENTS, OR FINANCIAL CIRCUMSTANCES, WHAT ACTUALLY HAPPENS MAY BE DIFFERENT FROM WHAT IS INCLUDED IN FORWARD- LOOKING STATEMENTS.

THE ACHIEVEMENT OF CERTAIN RESULTS OR OTHER EXPECTATIONS CONTAINED IN SUCH FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS DESCRIBED TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. THE DISTRICT AND THE LANDOWNER DO NOT PLAN TO ISSUE ANY UPDATES OR REVISIONS TO THOSE FORWARD-LOOKING STATEMENTS IF OR WHEN ANY OF THEIR EXPECTATIONS CHANGE OR EVENTS, CONDITIONS OR CIRCUMSTANCES ON WHICH SUCH STATEMENTS ARE BASED OCCUR, OTHER THAN AS DESCRIBED UNDER "CONTINUING DISCLOSURE" HEREIN.

THIS LIMITED OFFERING MEMORANDUM IS BEING PROVIDED TO PROSPECTIVE PURCHASERS ONLY IN ELECTRONIC FORMAT ON THE FOLLOWING WEBSITES: WWW.MUNIOS.COM AND WWW.EMMA.MSRB.ORG. THIS LIMITED OFFERING MEMORANDUM MAY BE RELIED UPON ONLY IF IT IS PRINTED IN ITS ENTIRETY DIRECTLY FROM SUCH WEBSITE.

THIS PRELIMINARY LIMITED OFFERING MEMORANDUM IS IN A FORM DEEMED FINAL BY THE DISTRICT FOR PURPOSES OF RULE 15C2-12 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, EXCEPT FOR CERTAIN INFORMATION PERMITTED TO BE OMITTED PURSUANT TO RULE 15C2-12(B)(1).
TABLE OF CONTENTS

Page
INTRODUCTION	1
DESCRIPTION OF THE SERIES 2023 BONDS	3
General Description	3
Redemption Provisions	4
Book-Entry Only System	7
SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS	9
General	9
Prepayment of Series 2023 Special Assessments	10
Additional Bonds	11
Covenant Against Sale or Encumbrance	11
Acquisition and Construction Account	11
Reserve Account	12
Deposit and Application of the Pledged Revenues	14
Investments	15
Master Indenture Provisions Relating to Bankruptcy or Insolvency of a Landowner	16
Events of Default and Remedies	17
ENFORCEMENT OF ASSESSMENT COLLECTIONS	18
General	18
Direct Billing & Foreclosure Procedure	19
Uniform Method Procedure	20
BONDOWNERS' RISKS	22
Concentration of Land Ownership	23
Bankruptcy and Related Risks	23
Series 2023 Special Assessments Are Non-Recourse	24
Regulatory and Environmental Risks	24
Economic Conditions and Changes in Development Plans	25
Other Taxes and Assessments	25
Limited Secondary Market for Series 2023 Bonds	26
Inadequacy of Reserve Account	26
Legal Delays	26
IRS Examination and Audit Risk	26
Loss of Exemption from Securities Registration	28
Federal Tax Reform	28
State Tax Reform	29
Insufficient Resources or Other Factors Causing Failure to Complete Development	29
Pandemics and Other Public Health Emergencies	30
Cybersecurity	30
Prepayment and Redemption Risk	30
Payment of Series 2023 Special Assessments after Bank Foreclosure	30
ESTIMATED SOURCES AND USES OF FUNDS	31
DEBT SERVICE REQUIREMENTS	32
THE DISTRICT	33
TABLE OF CONTENTS
(continued)

Page

General	33
Governance	33
Legal Powers and Authority	34
The District Manager and Other Consultants	35
Outstanding Bond Indebtedness	35
THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2023 PROJECT	36
ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS	39
THE DEVELOPMENT	40
General Overview	40
Update on the Series 2022 Assessment Area	41
Land Acquisition and Development Finance Plan	42
Development Plan and Status	42
The Builder Contract	42
Residential Product Offerings	43
Development Approvals	43
Environmental	44
Utilities	44
Taxes, Fees and Assessments	44
Amenities	45
Education	45
Competition	45
Landowner Agreements	46
THE LANDOWNER	46
The Landowner	46
Development Manager	46
TAX MATTERS	50
General	50
Original Issue Discount and Premium	51
Changes in Federal and State Tax Law	52
Information Reporting and Backup Withholding	52
AGREEMENT BY THE STATE	52
LEGALITY FOR INVESTMENT	53
SUITABILITY FOR INVESTMENT	53
ENFORCEABILITY OF REMEDIES	53
FINANCIAL STATEMENTS	53
LITIGATION	54
The District	54
The Landowner	54
NO RATING	54
DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS	54
TABLE OF CONTENTS
(continued)

Page

CONTINUING DISCLOSURE	54
UNDERWRITING	55
CONTINGENT FEES	55
EXPERTS	55
VALIDATION	55
LEGAL MATTERS	56
MISCELLANEOUS	56
AUTHORIZATION AND APPROVAL	57

APPENDICES
APPENDIX A  ENGINEER'S REPORT
APPENDIX B	COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE
APPENDIX C	PROPOSED FORM OF OPINION OF BOND COUNSEL APPENDIX D	 ASSESSMENT METHODOLOGY
APPENDIX E	PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT APPENDIX F: DISTRICT'S FINANCIAL STATEMENTS
LIMITED OFFERING MEMORANDUM

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT (TOWN OF LAKE HAMILTON, FLORIDA)

$[	]*
SPECIAL ASSESSMENT BONDS, SERIES 2023 (SERIES 2023 PROJECT)

INTRODUCTION

The purpose of this Limited Offering Memorandum, including the cover page, inside cover and appendices hereto, is to provide certain information in connection with the issuance and sale by Scenic Terrace South Community Development District (the "District" or the "Issuer") of its $[	]* aggregate principal amount of Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Series 2023 Bonds").

PROSPECTIVE INVESTORS SHOULD BE AWARE OF CERTAIN RISK FACTORS, ANY OF WHICH, IF MATERIALIZED TO A SUFFICIENT DEGREE, COULD DELAY OR PREVENT PAYMENT OF PRINCIPAL OF AND/OR INTEREST ON THE SERIES 2023 BONDS. THE SERIES 2023 BONDS ARE NOT A SUITABLE INVESTMENT FOR ALL INVESTORS. PURSUANT TO APPLICABLE STATE LAW, THE UNDERWRITER IS LIMITING THIS INITIAL OFFERING OF THE SERIES 2023 BONDS TO ONLY ACCREDITED INVESTORS WITHIN THE MEANING OF CHAPTER 517, FLORIDA STATUTES, AND THE RULES OF THE FLORIDA DEPARTMENT OF FINANCIAL SERVICES PROMULGATED THEREUNDER. THE LIMITATION OF THE INITIAL OFFERING TO ACCREDITED INVESTORS DOES NOT DENOTE RESTRICTIONS ON TRANSFERS IN ANY SECONDARY MARKET FOR THE SERIES 2023 BONDS. See "SUITABILITY FOR INVESTMENT" and "BONDOWNERS' RISKS" herein.

The District is a local unit of special-purpose government of the State of Florida (the "State"), created in accordance with the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the "Act"), and by Ordinance No. O-21-19 duly enacted by the Town Council of the Town of Lake Hamilton, Florida (the "Town") on October 5, 2021, as amended by Ordinance No. O-23-05 enacted on May 2, 2023 (collectively, the "Ordinance"). The District was created for the purpose of delivering certain community development services and facilities for the benefit of District Lands (as hereinafter defined) and has previously determined to undertake, in one or more stages, the acquisition and/or construction of public improvements and community facilities as set forth in the Act for the special benefit of the District Lands. The Act authorizes the District to issue bonds for the purposes of, among others, financing, funding, planning, establishing, acquiring, constructing or reconstructing, enlarging or extending, or equipping water management, water supply, sewer and wastewater management, bridges or culverts, public roads, street lights and other basic infrastructure projects within or without the boundaries of the District as provided in the Act.

The District encompasses approximately [211.11] gross acres (the "District Lands") located within the Town in Polk County, Florida (the "County"). The Development is located at Scenic Highway (State Road 17) and the north and south sides of Hughes Road, approximately one mile east of US Highway 27.

* Preliminary, subject to change.
For more complete information about the District, its Board of Supervisors and the District Manager, see "THE DISTRICT" herein.

The District Lands contain a portion of the 1,173-unit master planned community which will be marketed under the name "Scenic Terrace" (the "Master Development"). The portion of the Master Development located within the boundaries of the District (the "Development") is planned to contain 843 single-family homes, recreation and amenity areas, parks and associated infrastructure. See "THE DEVELOPMENT" herein for more information.

Land development for the Development is being phased. Two assessment areas have been created to facilitate the District's development and financing plans. The first phase of land development for the Development contains 744 platted and developed lots (the "Series 2022 Assessment Area"). The District issued its Series 2022 Bonds (as defined herein) to finance a portion of the public infrastructure improvements associated with the Series 2022 Assessment Area. Development of the Series 2022 Assessment Area is [complete, and all 744 lots have been platted]. See "THE DISTRICT – Outstanding Bond Indebtedness" and "THE DEVELOPMENT – Update on the Series 2022 Assessment Area" herein for more information.

The second phase of land development for the Development consists of approximately [20.56] acres of land, which are planned to contain 99 single-family homes at buildout (the "Series 2023 Assessment Area"). The Series 2023 Bonds are being issued to finance a portion of the public infrastructure improvements associated with the development of the 99 lots planned for the Series 2023 Assessment Area (the "Series 2023 Project"). See "THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2023
PROJECT" herein for more information. The Series 2023 Bonds will be secured by the Series 2023 Special Assessments, which will initially be levied on the [20.56] gross acres within the Series 2023 Assessment Area. As lots are platted therein, the Series 2023 Special Assessments will be assigned to the 99 lots planned for the Series 2023 Assessment Area on a first platted, first assigned basis, as set forth in the Assessment Methodology. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS"
herein.

The land in the Series 2023 Assessment Area is owned by [ST DEV PARTNERS, LLC], a Florida limited liability company (the "Landowner"). See "THE LANDOWNER" herein for more information. [The Landowner has entered into Stanley Martin Homes (the "Builder") for all 99 lots planned within the Series 2023 Assessment Area. See "THE DEVELOPMENT – Builder Contracts" herein for more information.]

The Series 2023 Bonds are being issued pursuant to the Act, Resolution No. 2022-26 and Resolution No. 2023-[16] adopted by the Board of Supervisors (the "Board") of the District on October 13, 2021 and [August 16], 2023 (collectively, the "Resolution"), and a Master Trust Indenture dated as of March 1, 2022 (the "Master Indenture"), as supplemented by a Second Supplemental Trust Indenture, dated as [	] 1, 2023 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each by and between the District and U.S. Bank Trust Company, National Association, as trustee (the "Trustee"). Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Indenture. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE" hereto.

The Series 2023 Bonds are being issued for the purposes of: (i) providing funds to pay all or a portion of the costs of the planning, financing, acquisition, construction, equipping and installation of the Series 2023 Project, (ii) funding a deposit to the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement (each as defined herein), (iii) paying a portion of the interest coming due on the
Series 2023 Bonds and (iv) paying the costs of issuance of the Series 2023 Bonds. See "ESTIMATED SOURCES AND USES OF FUNDS" herein.

The Series 2023 Bonds are payable from and secured solely by the Series 2023 Pledged Revenues. The Series 2023 Pledged Revenues for the Series 2023 Bonds consist of (a) all revenues received by the District from the Series 2023 Special Assessments (as defined herein) levied and collected on the assessable lands within the Series 2023 Assessment Area, benefitted by the Series 2023 Project, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2023 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2023 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2023 Bonds; provided, however, that the Series 2023 Pledged Revenues shall not include (A) any moneys transferred to the Series 2023 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022 of the Act, for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3) of the Act (it being expressly understood that the lien and pledge of the Indenture shall not apply to any of the moneys described in the foregoing clauses of (A), (B) and (C) of this proviso). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS" herein.

Set forth herein are brief descriptions of the District, the Series 2023 Project, the Series 2023 Assessment Area, the Landowner, the Builder and the Development, together with summaries of terms of Series 2023 Bonds, the Indenture, and certain provisions of the Act. All references herein to the Indenture and the Act are qualified in their entirety by reference to such documents and the Act and all references to the Series 2023 Bonds are qualified by reference to the definitive forms thereof and the information with respect thereto contained in the Indenture. A copy of the Master Indenture and proposed form of the Second Supplemental Indenture appear as APPENDIX B attached hereto.

This Limited Offering Memorandum speaks only as of its date and the information contained herein is subject to change.

DESCRIPTION OF THE SERIES 2023 BONDS

General Description

The Series 2023 Bonds will be dated the date, will bear interest at the rates per annum (computed on the basis of a 360-day year consisting of twelve 30-day months) and, subject to the redemption provisions set forth below, will mature on the dates and in the amounts set forth on the inside cover pages of this Limited Offering Memorandum. Interest on the Series 2023 Bonds shall be payable on each Interest Payment Date to maturity or prior redemption. Interest on the Series 2023 Bonds shall be payable from the most recent Interest Payment Date next preceding the date of authentication thereof to which interest has been paid, unless the date of authentication thereof is a May 1 or November 1 to which interest has been paid, in which case from such date of authentication, or unless the date of authentication thereof is prior to November 1, 2023, in which case from the date of initial delivery or unless the date of authentication thereof is between a Record Date and the next succeeding Interest Payment Date, in which case from such Interest Payment Date. U.S. Bank Trust Company, National Association is the initial Trustee, Paying Agent and Registrar for the Series 2023 Bonds.

The Series 2023 Bonds will be issued in fully registered form, without coupons, in authorized denominations of $5,000 and any integral multiple thereof provided, except as otherwise provided in the Indenture. The Series 2023 Bonds will initially be offered only to "accredited investors" within the meaning
of Chapter 517, Florida Statutes, as amended, and the rules of the Florida Department of Financial Services promulgated thereunder; provided, however, the limitation of the initial offering to accredited investors does not denote restrictions on transfer in any secondary market for the Series 2023 Bonds. See "SUITABILITY FOR INVESTMENT" herein.

Upon initial issuance, the Series 2023 Bonds shall be issued as one fully registered bond for each maturity of Series 2023 Bonds and deposited with The Depository Trust Company ("DTC"), New York, New York, which is responsible for establishing and maintaining records of ownership for its participants. As long as the Series 2023 Bonds are held in book-entry-only form, Cede & Co. shall be considered the registered owner for all purposes of the Indenture. DTC shall be responsible for maintaining a book-entry- only system for recording the ownership interest of its participants ("DTC Participants") and other institutions that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly ("Indirect Participants"). The DTC Participants and Indirect Participants will be responsible for maintaining records with respect to the beneficial ownership interests of individual purchasers of the Series 2023 Bonds ("Beneficial Owners"). Principal and interest on the Series 2023 Bonds registered in the name of Cede & Co. prior to and at maturity shall be payable directly to Cede & Co. in care of DTC. Disbursal of such amounts to DTC Participants shall be the responsibility of DTC. Payments by DTC Participants to Indirect Participants, and by DTC Participants and Indirect Participants to Beneficial Owners shall be the responsibility of DTC Participants and Indirect Participants and not of DTC, the Trustee or the District. During the period for which Cede & Co. is registered owner of the Series 2023 Bonds, any notices to be provided to any Beneficial Owner will be provided to Cede & Co. DTC shall be responsible for notices to DTC Participants and DTC Participants shall be responsible for notices to Indirect Participants, and DTC Participants and Indirect Participants shall be responsible for notices to Beneficial Owners. In the event DTC, any successor of DTC or the District, but only in accordance with the procedures of DTC, elects to discontinue the book-entry only system for the Series 2023 Bonds, the Trustee shall deliver bond certificates in accordance with the instructions from DTC or its successor, and after such time the Series 2023 Bonds may be exchanged for an equal aggregate principal amount of such Series 2023 Bonds in other Authorized Denominations upon surrender thereof at the designated corporate trust office of the Trustee. See "– Book- Entry Only System" herein.

Redemption Provisions

Optional Redemption

The Series 2023 Bonds maturing after May 1, 20  may, at the option of the District be called for redemption prior to maturity as a whole or in part, at any time, on or after May 1, 20   (less than all Series 2023 Bonds of a maturity to be selected by lot), at a Redemption Price equal to the principal amount of Series 2023 Bonds to be redeemed, plus accrued interest from the most recent Interest Payment Date through which interest has been paid to the redemption date from moneys on deposit in the Series 2023 Optional Redemption Subaccount of the Series 2023 Bond Redemption Account. If such optional redemption shall be in part, the District shall select such principal amount of Series 2023 Bonds to be optionally redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Mandatory Sinking Fund Redemption

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

The Series 2023 Bonds maturing on May 1, 20   are subject to mandatory sinking fund redemption from the moneys on deposit in the Series 2023 Sinking Fund Account on May 1 in the years and in the mandatory sinking fund redemption amounts set forth below at a Redemption Price of 100% of their principal amount plus accrued interest to the date of redemption.

Year
Mandatory Sinking Fund Redemption Amount
$

*

*Maturity

Upon any redemption of Series 2023 Bonds other than in accordance with scheduled mandatory sinking fund redemption, the District shall cause to be recalculated and delivered to the Trustee revised
mandatory sinking fund redemption amounts recalculated so as to amortize the Outstanding principal amount of Series 2023 Bonds in substantially equal annual installments of principal and interest (subject to rounding to Authorized Denominations of principal) over the remaining term of the Series 2023 Bonds. The mandatory sinking fund redemption amounts as so recalculated shall not result in an increase in the aggregate of the mandatory sinking fund redemption amounts for all Series 2023 Bonds in any year. In the event of a redemption or purchase occurring less than 45 days prior to a date on which a mandatory sinking fund redemption payment is due, the foregoing recalculation shall not be made to the mandatory sinking fund redemption amounts due in the year in which such redemption or purchase occurs, but shall be made to the mandatory sinking fund redemption amounts for the immediately succeeding and subsequent years.

Extraordinary Mandatory Redemption

The Series 2023 Bonds are subject to extraordinary mandatory redemption prior to maturity by the District in whole or in part, on any date (other than in the case of clause (i) below, which extraordinary mandatory redemption in part must occur on a Quarterly Redemption Date), at a Redemption Price equal to 100% of the principal amount of the Series 2023 Bonds to be redeemed, plus interest accrued to the redemption date, as follows:

from Series 2023 Prepayment Principal deposited into the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account following the payment in whole or in part of Series 2023 Special Assessments on any assessable property within the District in accordance with the provisions of the Second Supplemental Indenture, together with any excess moneys transferred by the Trustee from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount as a result of such Series 2023 Prepayment and pursuant the Second Supplemental Indenture. If such redemption shall be in part, the District shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level;

from moneys, if any, on deposit in the Funds, Accounts and subaccounts held by the Trustee within the Second Supplemental Indenture (other than the Series 2023 Rebate Fund and the Series 2023 Acquisition and Construction Accounts) sufficient to pay and redeem all Outstanding Series 2023 Bonds and accrued interest thereon to the redemption date or dates in addition to all amounts owed to Persons under the Master Indenture; and

upon the Completion Date, from any funds remaining on deposit in the Series 2023 Acquisition and Construction Account in accordance with the provisions of the Second Supplemental Indenture, not otherwise reserved to complete the Series 2023 Project and transferred to the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account. If such redemption shall be in part, the District shall select such principal amount of Series 2023 Bonds to be redeemed from each maturity so that debt service on the remaining Outstanding Series 2023 Bonds is substantially level.

Notice of Redemption

When required to redeem or purchase Series 2023 Bonds under any provision of the Indenture or directed to do so by the District, the Trustee shall cause notice of the redemption, either in whole or in part, to be mailed at least thirty (30) but not more than sixty (60) days prior to the redemption or purchase date to all Owners of Series 2023 Bonds to be redeemed or purchased (as such Owners appear on the Bond Register on the fifth (5th) day prior to such mailing), at their registered addresses, but failure to mail any such notice or defect in the notice or in the mailing thereof shall not affect the validity of the redemption or purchase of the Series 2023 Bonds for which notice was duly mailed in accordance with the Indenture. If, at the time of mailing of notice of an optional redemption, the District shall not have deposited with the Trustee or Paying Agent moneys sufficient to redeem or purchase all of the Series 2023 Bonds called for
redemption, such notice shall expressly state that the redemption is conditional and is subject to the deposit of the redemption moneys with the Trustee or Paying Agent, as the case may be, not later than the opening of business on the redemption date or purchase date, and such notice shall be of no effect unless such moneys are so deposited.

Book-Entry Only System

The Depository Trust Company ("DTC"), New York, New York, will act as securities depository for the Series 2023 Bonds. The Series 2023 Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. One fully-registered Series 2023 Bond certificate will be issued for each maturity of the Series 2023 Bonds, each in the aggregate principal amount of such maturity, and will be deposited with DTC.

DTC, the world's largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a "banking organization" within the meaning of the New York Banking Law, a member of the Federal Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code, and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC's participants ("Direct Participants") deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants' accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation ("DTCC"). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly ("Indirect Participants"). DTC has a Standard & Poor's rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.com.

Purchases of Series 2023 Bonds under the DTC system must be made by or through Direct Participants, which will receive a credit for the Series 2023 Bonds on DTC's records. The ownership interest of each actual purchaser of each Series 2023 Bond ("Beneficial Owner") is in turn to be recorded on the Direct and Indirect Participants' records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Series 2023 Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Series 2023 Bonds, except in the event that use of the book-entry system for the Series 2023 Bonds is discontinued.

To facilitate subsequent transfers, all Series 2023 Bonds deposited by Direct Participants with DTC are registered in the name of DTC's partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Series 2023 Bonds with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not affect any change in beneficial
ownership. DTC has no knowledge of the actual Beneficial Owners of the Series 2023 Bonds; DTC's records reflect only the identity of the Direct Participants to whose accounts such Series 2023 Bonds are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.

Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of Series 2023 Bonds may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the Series 2023 Bonds, such as redemptions, tenders, defaults, and proposed amendments to the Series 2023 Bond documents. For example, Beneficial Owners of Series 2023 Bonds may wish to ascertain that the nominee holding the Series 2023 Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the registrar and request that copies of notices be provided directly to them.

Redemption notices shall be sent to DTC. If less than all of the Series 2023 Bonds within a series or maturity are being redeemed, DTC's practice is to determine by lot the amount of the interest of each Direct Participant in such series or maturity to be redeemed.

Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Series 2023 Bonds unless authorized by a Direct Participant in accordance with DTC's MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the District as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.'s consenting or voting rights to those Direct Participants to whose accounts Series 2023 Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy).

Redemption proceeds, distributions, and dividend payments on the Series 2023 Bonds will be made to Cede & Co., or such other nominee as may be requested by an authorized representative of DTC. DTC's practice is to credit Direct Participants' accounts upon DTC's receipt of funds and corresponding detail information from the District or the Trustee, on payable date in accordance with their respective holdings shown on DTC's records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in "street name," and will be the responsibility of such Participant and not of DTC, the Trustee, or the District, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the District or the Trustee, disbursement of such payments to Direct Participants will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants.

A Beneficial Owner shall give notice to elect to have its Series 2023 Bonds purchased or tendered, through its Participant, to the Trustee, and shall effect delivery of such Series 2023 Bonds by causing the Direct Participant to transfer the Participant's interest in the Series 2023 Bonds, on DTC's records, to the Trustee. The requirement for physical delivery of Series 2023 Bonds in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Series 2023 Bonds are transferred by Direct Participants on DTC's records and followed by a book-entry credit of tendered Series 2023 Bonds to the Trustee's DTC account.

DTC may discontinue providing its services as depository with respect to the Series 2023 Bonds at any time by giving reasonable notice to the District or the Trustee. Under such circumstances, in the event
that a successor depository is not obtained, Series 2023 Bond certificates are required to be printed and delivered.

The District may decide to discontinue use of the system of book-entry-only transfers through DTC (or a successor securities depository) pursuant to the procedures of DTC. In that event, Security certificates will be printed and delivered to DTC.

The information in this section concerning DTC and DTC's book-entry system has been obtained from sources that the District believes to be reliable, but the District takes no responsibility for the accuracy thereof.

SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS

General

THE SERIES 2023 BONDS ARE LIMITED OBLIGATIONS OF THE DISTRICT PAYABLE SOLELY FROM THE SERIES 2023 PLEDGED REVENUES PLEDGED THEREFOR UNDER THE INDENTURE, AND NEITHER THE PROPERTY, THE FULL FAITH AND CREDIT, NOR THE TAXING POWER OF THE DISTRICT, THE TOWN, THE COUNTY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF, IS PLEDGED AS SECURITY FOR THE PAYMENT OF THE SERIES 2023 BONDS, EXCEPT THAT THE DISTRICT IS OBLIGATED UNDER THE INDENTURE TO LEVY AND TO EVIDENCE AND CERTIFY, OR CAUSE TO BE CERTIFIED, FOR COLLECTION SERIES 2023 SPECIAL ASSESSMENTS TO SECURE AND PAY THE SERIES 2023 BONDS. THE SERIES 2023 BONDS DO NOT CONSTITUTE AN INDEBTEDNESS OF THE DISTRICT, THE TOWN, THE COUNTY, THE STATE, OR ANY OTHER POLITICAL SUBDIVISION THEREOF WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY PROVISION OR LIMITATION.

The Series 2023 Bonds are payable from and secured solely by the Series 2023 Pledged Revenues. The Series 2023 Pledged Revenues for the Series 2023 Bonds consist of (a) all revenues received by the District from the Series 2023 Special Assessments (as defined herein) levied and collected on the assessable lands within the Series 2023 Assessment Area, benefitted by the Series 2023 Project, including without limitation, amounts received from any foreclosure proceeding for the enforcement of collection of such Series 2023 Special Assessments or from the issuance and sale of tax certificates with respect to such Series 2023 Special Assessments, and (b) all moneys on deposit in the Funds and Accounts established under the Indenture, created and established with respect to or for the benefit of the Series 2023 Bonds; provided, however, that the Series 2023 Pledged Revenues shall not include (A) any moneys transferred to the Series 2023 Rebate Fund and investment earnings thereon, (B) moneys on deposit in the Series 2023 Costs of Issuance Account of the Acquisition and Construction Fund and (C) "special assessments" levied and collected by the District under Section 190.022 of the Act, for maintenance purposes or "maintenance assessments" levied and collected by the District under Section 190.021(3), of the Act (it being expressly understood that the lien and pledge of the Indenture shall not apply to any of the moneys described in the foregoing clauses of (A), (B) and (C) of this proviso).

The "Series 2023 Special Assessments" consist of the non-ad valorem special assessments imposed and levied by the District against the assessable lands within the District specially benefited by the Series 2023 Project, or any portions thereof, pursuant to Section 190.022 of the Act, Chapters 170 and 197, Florida Statutes, and the Assessment Resolutions (as defined in the Indenture) and assessment proceedings conducted by the District (together with the Assessment Resolutions, the "Assessment Proceedings"). Non- ad valorem assessments are not based on millage and are not taxes, but constitute a lien against the land as to which the Series 2023 Special Assessments are imposed, including homestead property as permitted in
Section 4, Article X of the Florida State Constitution. The Series 2023 Special Assessments will constitute a lien against the land as to which the Series 2023 Special Assessments are imposed. See "ENFORCEMENT OF ASSESSMENT COLLECTIONS" herein. The Series 2023 Special Assessments will be levied on the approximately 20.56 gross acres of land within the Series 2023 Assessment Area, which is planned for 744 residential units, corresponding to Phase 4 of the Development.

The Series 2023 Special Assessments are levied in an amount corresponding to the debt service on the Series 2023 Bonds on the basis of benefit received by the assessable lands within the District as a result of the Series 2023 Project. The Assessment Methodology (as hereinafter defined), which describes the methodology for allocating the Series 2023 Special Assessments to the assessable lands within the District is included as APPENDIX D attached hereto.

In the Master Indenture, the District will covenant that, if any Series 2023 Special Assessment shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the District shall be satisfied that any such Series 2023 Special Assessment is so irregular or defective that the same cannot be enforced or collected, or if the District shall have omitted to make such Series 2023 Special Assessment when it might have done so, the District shall either (i) take all necessary steps to cause a new Series 2023 Special Assessment to be made for the whole or any part of such improvement or against any property benefited by such improvement or (ii) in its sole discretion, make up the amount of such Series 2023 Special Assessment from any legally available moneys, which shall be deposited into the Series 2023 Revenue Account. In the case such second Series 2023 Special Assessment shall be annulled, the District shall obtain and make other Series 2023 Special Assessments until a valid Series 2023 Special Assessment shall be made.

Prepayment of Series 2023 Special Assessments

The Assessment Proceedings provide that an owner of property subject to the Series 2023 Special Assessments may prepay the entire remaining balance of such Series 2023 Special Assessments at any time, or a portion of the remaining balance of such Series 2023 Special Assessment one time, if there is also paid, in addition to the prepaid principal balance of the Series 2023 Special Assessment, an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date for the Series 2023 Bonds or, if prepaid during the forty-five (45) day period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date. Prepayment of the Series 2023 Special Assessments does not entitle the property owner to any discounts for early payment.

Pursuant to the Act and the Assessment Proceedings, an owner of property subject to the levy of Series 2023 Special Assessments may pay the entire balance of the Series 2023 Special Assessments remaining due, without interest, within thirty (30) days after the Series 2023 Project has been completed, and the Board has adopted a resolution accepting the Series 2023 Project pursuant to Chapter 170.09, Florida Statutes. The Landowner, as the sole owner of the assessable property within the Series 2023 Assessment Area, will waive this right on behalf of itself and its successors and assigns in connection with the issuance of the Series 2023 Bonds. See "BONDOWNERS' RISKS – Prepayment and Redemption Risk" herein.

The Series 2023 Bonds are subject to extraordinary mandatory redemption as indicated under "DESCRIPTION OF THE SERIES 2023 BONDS – Redemption Provisions – Extraordinary Mandatory Redemption" from optional and required prepayments of Series 2023 Special Assessments by property owners.
Additional Bonds

Under the Indenture, the District will covenant not to issue any other Bonds or other debt obligations secured by the Series 2023 Special Assessments. In addition, the District will covenant not to issue any other Bonds or debt obligations for capital projects, secured by Special Assessments on the assessable lands within the District that are subject to the Series 2023 Special Assessments, until the Series 2023 Special Assessments are Substantially Absorbed. "Substantially Absorbed" means the date at least ninety percent (90%) of the principal portion of the Series 2023 Special Assessments have been assigned to residential units within the Series 2023 Assessment Area that have received certificates of occupancy. The District shall present the Trustee with a certification that the Series 2023 Special Assessments are Substantially Absorbed and the Trustee may conclusively rely upon such certification and shall have no duty to verify if the Series 2023 Special Assessments are Substantially Absorbed. In the absence of such written certification, the Trustee is entitled to assume that the Series 2023 Special Assessments have not been Substantially Absorbed. Such covenant shall not prohibit the District from issuing refunding Bonds or any Bonds or other debt obligations secured by Assessments levied on District Lands outside of the Series 2023 Assessment Area, or to finance any other capital project that is necessary to remediate any natural disaster, catastrophic damage or failure with respect to the Series 2023 Project.

The District and/or other public entities may impose taxes or other special assessments on the same properties encumbered by the Series 2023 Special Assessments without the consent of the Owners of the Series 2023 Bonds. The District expects to impose certain non-ad valorem special assessments called maintenance assessments, which are of equal dignity with the Series 2023 Special Assessments on the same lands upon which the Series 2023 Special Assessments are imposed, to fund the maintenance and operation of the District. See "THE DEVELOPMENT – Taxes, Fees and Assessments" and "BONDOWNERS' RISKS" herein for more information.

Covenant Against Sale or Encumbrance

In the Master Indenture, the District will covenant that (a) except for those improvements comprising the Projects that are to be conveyed by the District to the Town, the County, the State Department of Transportation or another governmental entity, as to which no assessments of the District will be imposed and (b) except as otherwise permitted in the Master Indenture, it will not sell, lease or otherwise dispose of or encumber any Projects or any part thereof. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE"
herein.

Acquisition and Construction Account General
The Indenture establishes a separate account within the Acquisition and Construction Fund designated as the "Series 2023 Acquisition and Construction Account." Net proceeds of the Series 2023 Bonds shall initially be deposited into the Series 2023 Acquisition and Construction Account in the amount set forth in the Second Supplemental Indenture, together with any moneys subsequently transferred or deposited thereto, including moneys transferred from the Series 2023 Reserve Account after satisfaction of either the Reserve Release Conditions #1 or Reserve Release Conditions #2 (each as defined below) as certified in writing by the District Manager and upon which the Trustee may conclusively rely, and such moneys shall be applied as set forth in the Indenture, the Acquisition Agreement and the Engineer's Report. Funds on deposit in the Series 2023 Acquisition and Construction Account shall only be requested by the District to be applied to the Costs of the Series 2023 Project, subject to the Second Supplemental Indenture. Upon satisfaction of the Reserve Release Conditions #1 and Reserve Release Conditions #2, the amount on
deposit in the Series 2023 Reserve Account in excess of the Series 2023 Reserve Requirement, as applicable and as calculated by the District shall then be transferred by the Trustee to the Series 2023 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, upon consultation with the Consulting Engineer, and applied as provided in the Second Supplemental Indenture.

Following the Completion Date for the Series 2023 Project, all moneys remaining in the Series 2023 Acquisition and Construction Account that have not been requisitioned within thirty (30) days after satisfaction of the Reserve Release Conditions #2, shall be transferred to the Series 2023 General Redemption Subaccount, as directed in writing by the District Manager, on behalf of the District to the Trustee to be applied as provided in the Second Supplemental Indenture. Notwithstanding the foregoing, the Series 2023 Acquisition and Construction Account shall not be closed until the Reserve Release Conditions #2 shall have occurred and the excess funds from the Series 2023 Reserve Account shall have been transferred to the Series 2023 Acquisition and Construction Account, as directed in writing to the Trustee by the District Manager, and applied in accordance with the Second Supplemental Indenture. The Trustee shall not be responsible for determining the amounts in the Series 2023 Acquisition and Construction Account and subaccounts allocable to the Series 2023 Project or any transfers made to such Accounts in accordance with direction from the District Manager.

The Trustee shall make no such transfers from the Series 2023 Acquisition and Construction Account to the Series 2023 General Redemption Subaccount if an Event of Default exists with respect to the Series 2023 Bonds of which the Trustee has actual knowledge as described in Section 11.06 of the Master Indenture. Except as provided in the Second Supplemental Indenture, only upon presentment to the Trustee of a properly signed requisition in substantially the form attached as an exhibit thereto, shall the Trustee withdraw moneys from the Series 2023 Acquisition and Construction Account or subaccounts therein. After no funds remain in the Series 2023 Acquisition and Construction Account, such Account shall be closed.

Reserve Account

The Indenture establishes a Series 2023 Reserve Account within the Reserve Fund solely for the benefit of the Series 2023 Bonds. Net proceeds of the Series 2023 Bonds shall be deposited into the Series 2023 Reserve Account in the amount of the Series 2023 Reserve Requirement, and such moneys, together with any other moneys deposited into the Series 2023 Reserve Account shall be applied for the purposes provided in the Indenture.

"Series 2023 Reserve Requirement" or "Reserve Requirement" shall be (i) initially, an amount equal to the maximum annual debt service on the Series 2023 Bonds as calculated from time to time; (ii) upon the occurrence of the Reserve Release Conditions #1, fifty percent (50%) of the maximum annual debt service on the Series 2023 Bonds as calculated from time to time; and (iii) upon the occurrence of the Reserve Release Conditions #2, ten percent (10%) of the maximum annual debt service on the Series 2023 Bonds as calculated from time to time. Upon satisfaction of the Reserve Release Conditions #1 or Reserve Release Conditions #2, as applicable, such excess amount shall be released from the Series 2023 Reserve Account and transferred to the Series 2023 Acquisition and Construction Account in accordance with the provisions of the Second Supplemental Indenture. For the purpose of calculating the Series 2023 Reserve Requirement, maximum annual debt service, fifty percent (50%) of maximum annual debt service, or ten percent (10%) of maximum annual debt service, as the case may be, shall be recalculated in connection with the extraordinary mandatory redemption described in the Second Supplemental Indenture (but not upon the optional or mandatory sinking fund redemption thereof) and such excess amount shall be released from the Series 2023 Reserve Account and, other than as provided in the immediately preceding sentence, transferred to the Series 2023 General Redemption Subaccount or the Series 2023 Prepayment Subaccount as applicable, in accordance with the provisions of the Second Supplemental Indenture. Amounts on deposit
in the Series 2023 Reserve Account may, upon final maturity or redemption of all Outstanding Series 2023 Bonds be used to pay principal of and interest on the Series 2023 Bonds at that time. Initially, the Series 2023 Reserve Requirement shall be equal to $	.

"Reserve Release Conditions #1" shall mean collectively (i) all lots subject to the Series 2023 Special Assessments have been developed, plated and conveyed to homebuilders, as certified by the District Manager in writing and upon which the Trustee may conclusively rely, and (ii) there shall be no Events of Default under the Series 2023 Indenture, all as certified by the District Manager in writing and upon which the Trustee may conclusively rely.

"Reserve Release Conditions #2" shall mean collectively (i) satisfaction of Reserve Release Conditions #1, (ii) all homes subject to Series 2023 Special Assessments have been built and have received a certificate of occupancy, (iii) all of the outstanding principal portion of the Series 2023 Special Assessments has been assigned to such homes and (iv) there shall be no Events of Default under the Series 2023 Indenture, all as certified by the District Manager in writing and upon which the Trustee may conclusively rely.

Notwithstanding any provisions in the Master Indenture to the contrary, the District will covenant in the Indenture not to substitute the cash and Investment Securities on deposit in the Series 2023 Reserve Account with a Debt Service Reserve Insurance Policy or a Debt Service Reserve Letter of Credit. Except as provided in the next paragraph, all investment earnings on moneys in the Series 2023 Reserve Account shall remain on deposit therein.

On each March 15 and September 15 (or, if such date is not a Business Day, on the Business Day next preceding such day), the Trustee shall determine the amount on deposit in the Series 2023 Reserve Account and transfer any excess therein above the Series 2023 Reserve Requirement resulting from investment earnings to the Series 2023 Revenue Account in accordance with the Indenture.

Subject to the provisions of the Second Supplemental Indenture, on any date the District receives notice from the District Manager that a landowner wishes to prepay its Series 2023 Special Assessments relating to the benefited property of such landowner within the Series 2023 Assessment Area, or as a result of a mandatory true-up payment, the District shall, or shall cause the District Manager on behalf of the District to calculate, the principal amount of such Prepayment, taking into account a credit against the amount of the Series 2023 Prepayment Principal due by the amount of money in the Series 2023 Reserve Account that will exceed the Series 2023 Reserve Requirement for the Series 2023 Bonds, taking into account the proposed Prepayment. Such excess shall be transferred to the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account, as a result of such Prepayment. The District Manager, on behalf of the District, shall make such calculation within ten (10) Business Days after such Prepayment and shall instruct the Trustee in writing to transfer such amount of credit given to the landowner from the Series 2023 Reserve Account to the Series 2023 Prepayment Subaccount of the Series 2023 Bond Redemption Account to be used for the extraordinary mandatory redemption of the Series 2023 Bonds in accordance with the Indenture. The Trustee is authorized to make such transfers and has no duty to verify such calculations.

Notwithstanding any of the foregoing, amounts on deposit in the Series 2023 Reserve Account shall be transferred by the Trustee, in the amounts directed in writing by the Majority Holders of the Series 2023 Bonds, to the Series 2023 General Redemption Subaccount, if as a result of the application of the provisions of the Master Indenture with respect to Events of Default, the proceeds received from lands sold subject to the Series 2023 Special Assessments and applied to redeem a portion of the Series 2023 Bonds is less than the principal amount of Series 2023 Bonds indebtedness attributable to such lands.
Notwithstanding the foregoing, upon satisfaction of the Reserve Release Conditions #2, the Trustee shall deposit such excess as directed by the District Manager in writing on deposit in the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account and pay such amount as designated in a requisition in the form attached to the Second Supplemental Indenture as Exhibit C to the District submitted by the Series 2023 Landowner within thirty (30) days of such transfer which requisition shall be executed by the District and the Consulting Engineer. Such payment is authorized notwithstanding that the Completion Date might have been declared provided the Series 2023 Landowner can establish, to the satisfaction of the Consulting Engineer, Costs of the Series 2023 Project that were not paid from moneys initially deposited in the Series 2023 Acquisition and Construction Account. In the event that there are no unreimbursed Costs to pay to the Series 2023 Landowner, such excess moneys transferred from the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account shall be deposited into the Series 2023 General Redemption Subaccount of the Series 2023 Bond Redemption Account upon direction to the Trustee by the District. If no completed requisition as provided in this section is submitted to the Trustee within thirty (30) days of moneys having been transferred from the Series 2023 Reserve Account to the Series 2023 Acquisition and Construction Account as a result of the satisfaction of the Reserve Release Conditions #2, such excess moneys in the Series 2023 Acquisition and Construction Account shall then be transferred by the Trustee to the Series 2023 General Redemption Subaccount and applied to the redemption of Series 2023 Bonds as provided in the Second Supplemental Indenture.

In addition, and together with the moneys transferred from the Series 2023 Reserve Account pursuant to this paragraph, if the amount on deposit in the Series 2023 General Redemption Subaccount is not sufficient to redeem a principal amount of the Series 2023 Bonds in an Authorized Denomination, the Trustee is authorized to withdraw amounts from the Series 2023 Revenue Account to round up the amount in the Series 2023 General Redemption Subaccount to the nearest Authorized Denomination. Notwithstanding the foregoing, no transfers from the Series 2023 Revenue Account shall be made to pay interest on and/or principal of the Series 2023 Bonds for the redemption pursuant to the Second Supplemental Indenture if as a result the deposits required under the Second Supplemental Indenture cannot be made in full.

It shall be an event of default under the Indenture if at any time the amount in the Series 2023 Reserve Account is less than the Reserve Requirement therefor as a result of the Trustee withdrawing an amount therefrom to satisfy the Debt Service Requirement for the Series 2023 Bonds and such amount has not been restored within ninety (90) days of such withdrawal.

Deposit and Application of the Pledged Revenues

Pursuant to the Indenture, the Trustee shall establish a separate account with the Revenue Fund designated as the "Series 2023 Revenue Account." Series 2023 Special Assessments (except for Prepayments of Series 2023 Special Assessments which shall be identified as such by the District to the Trustee and deposited in the Series 2023 Prepayment Subaccount ) shall be deposited by the Trustee into the Series 2023 Revenue Account and applied as set forth in the Indenture. The Trustee shall transfer from amounts on deposit in the Series 2023 Revenue Account to the Funds and Accounts designated below, the following amounts, at the following times and in the following order of priority:

FIRST, upon receipt but no later than the Business Day next preceding each Interest Payment Date, commencing November 1, 2023, to the Series 2023 Interest Account of the Debt Service Fund, an amount equal to the interest on the Series 2023 Bonds becoming due on the next succeeding Interest Payment Date, less any amount on deposit in the Series 2023 Interest Account not previously credited;

SECOND, no later than the Business Day next preceding each May 1, commencing May 1, 2024, to the Series 2023 Sinking Fund Account, an amount equal to the principal amount of Series 2023 Bonds
subject to sinking fund redemption on such May 1, less any amount on deposit in the Series 2023 Sinking Fund Account not previously credited;

THIRD, upon receipt but no later than the Business Day next preceding each Interest Payment Date while Series 2023 Bonds remain Outstanding, to the Series 2023 Reserve Account, equal to the amount, if any, which is necessary to make the amount on deposit therein equal to the Reserve Requirement for the Series 2023 Bonds;

FOURTH, notwithstanding the foregoing, at any time the Series 2023 Bonds are subject to redemption on a date which is not a May 1 or November 1 Interest Payment Date, the Trustee shall be authorized to transfer to the Series 2023 Interest Account, the amount necessary to pay interest on the Series 2023 Bonds subject to redemption on such date; and

FIFTH, subject to the foregoing paragraphs, the balance of any moneys remaining after making the foregoing deposits shall be first deposited into the Series 2023 Costs of Issuance Account upon the written request of the District to cover any deficiencies in the amount allocated to pay the cost of issuing the Series 2023 Bonds and next, any balance in the Series 2023 Revenue Account shall remain on deposit in such Series 2023 Revenue Account, unless needed to be transferred to the Series 2023 Prepayment Subaccount for the purposes of rounding the principal amount of a Series 2023 Bond subject to extraordinary mandatory redemption pursuant to the Second Supplemental Indenture to an Authorized Denomination, or unless pursuant to the Arbitrage Certificate, it is necessary to make a deposit into the Series 2023 Rebate Fund, in which case, the District shall direct the Trustee to make such deposit thereto.

In addition to a redemption of Series 2023 Bonds from Prepayments on deposit in the Series 2023 Prepayment Subaccount, the Trustee is further authorized, upon written direction from the District, to transfer from the Series 2023 Revenue Account to the Series 2023 General Redemption Subaccount sufficient funds to cause the redemption of the next closest Authorized Denomination of Series 2023 Bonds, as provided in the Second Supplemental Indenture.

Investments

The Trustee shall, as directed by the District in writing, invest moneys held in the Series Accounts in the Debt Service Fund and any Series Account within the Bond Redemption Fund only in Investment Securities (as defined in the Master Indenture). The Trustee shall, as directed by the District in writing, invest moneys held in the Series 2023 Reserve Account of the Debt Service Reserve Fund in Investment Securities. All deposits in time accounts shall be subject to withdrawal without penalty and all investments shall mature or be subject to redemption by the holder without penalty, not later than the date when the amounts will foreseeably be needed for purposes set forth in the Master Indenture. All securities securing investments under the Indenture shall be deposited with a Federal Reserve Bank, with the trust department of the Trustee, as authorized by law with respect to trust funds in the State, or with a bank or trust company having a combined net capital and surplus of not less than $50,000,000. The interest and income received upon such investments and any interest paid by the Trustee or any other depository of any Fund or Account and any profit or loss resulting from the sale of securities shall be added or charged to the Fund or Account for which such investments are made; provided, however, that if the amount in any Fund or Account equals or exceeds the amount required to be on deposit therein, subject to the Indenture, any interest and other income so received shall be deposited in the applicable Series Account of the Revenue Fund. Upon written request of the District, or on its own initiative whenever payment is to be made out of any Fund or Account, the Trustee shall sell such securities as may be requested to make the payment and restore the proceeds to the respective Fund or Account in which the securities were held. The Trustee shall not be accountable for any depreciation in the value of any such security or for any loss resulting from the sale thereof. If net proceeds from the sale of securities held in any Fund or Account shall be less than the amount invested and,
as a result, the amount on deposit in such Fund or Account is less than the amount required to be on deposit in such Fund or Account, the amount of such deficit shall be transferred to such Fund or Account from the related Series Account of the Revenue Fund. See "APPENDIX B: COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE" attached hereto.

Master Indenture Provisions Relating to Bankruptcy or Insolvency of a Landowner

For purposes of the following, (a) the Series 2023 Bonds secured by and payable from Special Assessments levied against property owned by any Insolvent Taxpayer (defined below) are collectively referred to herein as the "Affected Bonds" and (b) the Special Assessments levied against any Insolvent Taxpayer's property and pledged under a Supplemental Indenture as security for the Affected Bonds are collectively referred to herein as the "Affected Special Assessments." The Master Indenture contains the following provisions which, pursuant to the Indenture, shall be applicable both before and after the commencement, whether voluntary or involuntary, of any case, proceeding or other action by or against any owner of any tax parcel subject to the Affected Special Assessments (herein, an "Insolvent Taxpayer") under any existing or future law of any jurisdiction relating to bankruptcy, insolvency, reorganization, assignment for the benefit of creditors, or relief of debtors (a "Proceeding"). For as long as any Affected Bonds remain Outstanding, in any Proceeding involving the District, any Insolvent Taxpayer, the Affected Bonds or the Affected Special Assessments, the District shall be obligated to act in accordance with any direction from the Trustee with regard to all matters directly or indirectly affecting at least three percent (3%) of the Outstanding aggregate principal amount of the Affected Bonds or for as long as any Affected Bonds remain Outstanding, in any proceeding involving the District, any Insolvent Taxpayer, the Affected Bonds or the Affected Special Assessments or the Trustee. The District has agreed in the Master Indenture that it shall not be a defense to a breach of the foregoing covenant that it has acted upon advice of counsel in not complying with this covenant.

In the Master Indenture, the District will acknowledge and agree that, although the Affected Bonds were issued by the District, the Owners of the Affected Bonds are categorically the party with the ultimate financial stake in the transaction and, consequently, the party with a vested and pecuniary interest in a Proceeding. In the event of any Proceeding involving any Insolvent Taxpayer: (a) the District has agreed in the Master Indenture that it shall follow the direction of the Trustee in making any election, giving any consent, commencing any action or filing any motion, claim, obligation, notice or application or in taking any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Affected Special Assessments, the Affected Bonds or any rights of the Trustee under the Indenture; (b) the District has agreed in the Master Indenture that it shall not make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Affected Special Assessments, the Affected Bonds or any rights of the Trustee under the Indenture that is inconsistent with any direction from the Trustee; (c) the Trustee shall have the right, but is not obligated to, (i) to the extent permitted by law, vote in any such Proceeding any and all claims of the District, or (ii) file any motion, pleading, plan or objection in any such Proceeding on behalf of the District, including without limitation, motions seeking relief from the automatic stay, dismissal of the Proceeding, valuation of the property belonging to the Insolvent Taxpayer, termination of exclusivity, and objections to disclosure statements, plans of liquidation or reorganization, and motions for use of cash collateral, seeking approval of sales or post-petition financing. If the Trustee chooses to exercise any such rights, the District shall be deemed to have appointed the Trustee as its agent and granted to the Trustee an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of exercising any and all rights and taking any and all actions available to the District in connection with any Proceeding of any Insolvent Taxpayer, including without limitation, the right to file and/or prosecute any claims, to propose and prosecute a plan, to vote to accept or reject a plan, and to make any election under Section 1111(b) of the Bankruptcy Code and (d) the District shall not challenge the validity or amount of any claim submitted
in such Proceeding by the Trustee in good faith or any valuations of the lands owned by any Insolvent Taxpayer submitted by the Trustee in good faith in such Proceeding or take any other action in such Proceeding, which is adverse to Trustee's enforcement of the District claim and rights with respect to the Affected Special Assessments or receipt of adequate protection (as that term is defined in the Bankruptcy Code). Without limiting the generality of the foregoing, the District has agreed in the Master Indenture that the Trustee shall have the right (i) to file a proof of claim with respect to the Affected Special Assessments,
(ii) to deliver to the District a copy thereof, together with evidence of the filing with the appropriate court or other authority, and (iii) to defend any objection filed to said proof of claim. See "BONDOWNERS' RISKS – Bankruptcy Risks" herein.

Events of Default and Remedies

The Master Indenture provides that each of the following shall be an "Event of Default" under the Indenture, with respect to the Series 2023 Bonds:

if payment of any installment of interest on any Series 2023 Bond is not made when it becomes due and payable; or

if payment of the principal or Redemption Price of any Series 2023 Bond is not made when it becomes due and payable at maturity or upon call or presentation for redemption; or

if the District, for any reason, fails in, or is rendered incapable of, fulfilling its obligations under the Indenture or under the Act, as determined by a Majority Holder of the Series 2023 Bonds; or

if the District proposes or makes an assignment for the benefit of creditors or enters into a composition agreement with all or a material part of its creditors, or a trustee, receiver, executor, conservator, liquidator, sequestrator or other judicial representative, similar or dissimilar, is appointed for the District or any of its assets or revenues, or there is commenced any proceeding in liquidation, bankruptcy, reorganization, arrangement of debts, debtor rehabilitation, creditor adjustment or insolvency, local, state or federal, by or against the District and if such is not vacated, dismissed or stayed on appeal within ninety (90) days; or

if the District defaults in the due and punctual performance of any other covenant in the Indenture or in any Series 2023 Bond and such default continues for sixty (60) days after written notice requiring the same to be remedied shall have been given to the District by the Trustee, which may give such notice in its discretion and shall give such notice at the written request of the Majority Holder of the Outstanding Series 2023 Bonds; provided, however, that if such performance requires work to be done, actions to be taken, or conditions to be remedied, which by their nature cannot reasonably be done, taken or remedied, as the case may be, within such sixty (60) day period, no Event of Default shall be deemed to have occurred or exist if, and so long as the District shall commence such performance within such sixty
(60) day period and shall diligently and continuously prosecute the same to completion; or

if at any time the amount in the Series 2023 Reserve Account is less than the Series 2023 Reserve Requirement as a result of the Trustee withdrawing an amount therefrom to pay debt service on the Series 2023 Bonds and such amount has not been restored within thirty (30) days of such withdrawal; or

if, at any time after eighteen months following issuance of the Series 2023 Bonds, more than twenty percent (20%) of the "maintenance special assessments" levied by the District on District lands upon which the Series 2023 Special Assessments are levied to secure the Series 2023 Bonds pursuant to
Section 190.021(3), Florida Statutes, as amended, and collected directly by the District have become due and payable and have not been paid, when due.

The Trustee shall not be required to rely on any official action, admission or declaration by the District before recognizing that an Event of Default under (c) above has occurred.

No Series 2023 Bonds shall be subject to acceleration. Upon occurrence and continuance of an Event of Default with respect to the Series 2023 Bonds, no optional redemption or extraordinary mandatory redemption of Series 2023 Bonds pursuant to the Indenture shall occur unless all of the Series 2023 Bonds will be redeemed or if 100% of the Holders of the Series 2023 Bonds agree to such redemption.

If any Event of Default with respect to the Series 2023 Bonds has occurred and is continuing, the Trustee, in its discretion may, and upon the written request of the Majority Holder of the Outstanding Series 2023 Bonds and receipt of indemnity to its satisfaction shall, in its own name:

by mandamus, or other suit, action or proceeding at law or in equity, enforce all rights of the Holders of the Series 2023 Bonds, including, without limitation, the right to require the District to carry out any agreements with, or for the benefit of, the Bondholders of the Series 2023 Bonds and to perform its or their duties under the Act;

bring suit upon the Series 2023 Bonds;

by action or suit in equity require the District to account as if it were the trustee of an express trust for the Holders of the Series 2023 Bonds;

by action or suit in equity enjoin any acts or things which may be unlawful or in violation of the rights of the Holders of the Series 2023 Bonds; and

by other proceeding in law or equity, exercise all rights and remedies provided for by any other document or instrument securing the Series 2023 Bonds.

If any proceeding taken by the Trustee on account of any Event of Default with respect to the Series 2023 Bonds is discontinued or is determined adversely to the Trustee, then the District, the Trustee, the Paying Agent and the Bondholders of the Series 2023 Bonds shall be restored to their former positions and rights under the Indenture as though no such proceeding had been taken.

Subject to the provisions of the Indenture, the Majority Holder of the Outstanding Series 2023 Bonds then subject to remedial proceedings under the Master Indenture shall have the right to direct the method and place of conducting all remedial proceedings by the Trustee under the Indenture, provided that such directions shall not be otherwise than in accordance with law or the provisions of the Indenture.

ENFORCEMENT OF ASSESSMENT COLLECTIONS

General

The primary source of payment for the Series 2023 Bonds is the collection of Series 2023 Special Assessments imposed on certain assessable lands in the District specially benefited by the Series 2023 Project pursuant to the Assessment Proceedings. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS" herein and "APPENDIX D: ASSESSMENT METHODOLOGY."
The imposition, levy, and collection of Series 2023 Special Assessments must be done in compliance with the provisions of Florida law. Failure by the District, the Polk County Tax Collector ("Tax Collector") or the Polk County Property Appraiser ("Property Appraiser") to comply with such requirements could result in delay in the collection of, or the complete inability to collect, Series 2023 Special Assessments during any year. Such delays in the collection of Series 2023 Special Assessments, or complete inability to collect the Series 2023 Special Assessments, would have a material adverse effect on the ability of the District to make full or punctual payment of the debt service requirements on the Series 2023 Bonds. See "BONDOWNERS' RISKS." To the extent that landowners fail to pay the Series 2023 Special Assessments, delay payments, or are unable to pay the same, the successful pursuance of collection procedures available to the District is essential to continued payment of principal of and interest on the Series 2023 Bonds.

For the Series 2023 Special Assessments to be valid, the Series 2023 Special Assessments must meet two requirements: (1) the benefit from the Series 2023 Project to the lands subject to the Series 2023 Special Assessments must exceed or equal the amount of the Series 2023 Special Assessments, and (2) the Series 2023 Special Assessments must be fairly and reasonably allocated across all such benefitted properties. The Certificate of the Methodology Consultant will certify that these requirements have been met with respect to the Series 2023 Special Assessments.

Pursuant to the Act and the Assessment Proceedings, the District may collect the Series 2023 Special Assessments through a variety of methods. Initially, and for undeveloped properties owned by the Landowner, the District will directly issue annual bills to landowners requiring payment of the Series 2023 Special Assessments and will enforce that bill through foreclosure proceedings. See "ASSESSMENT METHODOLOGY  AND  THE  ALLOCATION  OF  ASSESSMENTS"  and  "APPENDIX  D:
ASSESSMENT METHODOLOGY." As lands are developed and platted, the Series 2023 Special Assessments will be added to the County tax roll and collected pursuant to the Uniform Method. The following is a description of certain statutory provisions relating to each of these collection methods. Such description is not intended to be exhaustive and is qualified in its entirety by reference to such statutes.

Direct Billing & Foreclosure Procedure

As noted above, and pursuant to Chapters 170 and 190 of the Florida Statutes, the District may directly levy, collect and enforce the Series 2023 Special Assessments. In this context, Section 170.10 of the Florida Statutes provides that upon the failure of any property owner to timely pay all or any part of the annual installment of principal and/or interest of a special assessment due, including the Series 2023 Special Assessments, the whole assessment, with the interest and penalties thereon, shall immediately become due and payable and subject to foreclosure. Generally stated, the governing body of the entity levying the special assessment, in this case the District, may foreclose by commencing a foreclosure proceeding in the same manner as the foreclosure of a real estate mortgage, or, alternatively, by commencing an action under Chapter 173, Florida Statutes, which relates to foreclosure of municipal tax and special assessment liens. Such proceedings are in rem, meaning that the action would be brought against the land, and not against the landowner. In light of the one year tolling period required before the District may commence a foreclosure action under Chapter 173, Florida Statutes, it is likely the District would commence an action to foreclose in the same manner as the foreclosure of a real estate mortgage rather than proceeding under Chapter 173, Florida Statutes.

Enforcement of the obligation to pay Series 2023 Special Assessments and the ability to foreclose the lien of such Series 2023 Special Assessments upon the failure to pay such Series 2023 Special Assessments may not be readily available or may be limited because enforcement is dependent upon judicial action which is often subject to discretion and delay. Additionally, there is no guarantee that there will be
demand for any foreclosed lands sufficient to repay the Series 2023 Special Assessments. See "BONDOWNERS' RISKS."

Uniform Method Procedure

Subject to certain conditions, and for developed lands (as described above), the District may alternatively elect to collect the Series 2023 Special Assessments using the Uniform Method. The Uniform Method of collection is available only in the event the District complies with statutory and regulatory requirements and enters into agreements with the Tax Collector and Property Appraiser providing for the Series 2023 Special Assessments to be levied and then collected in this manner.

If the Uniform Method of collection is used, the Series 2023 Special Assessments will be collected together with the Town, County, school, special district, and other ad valorem taxes and non-ad valorem assessments (together, "Taxes and Assessments"), all of which will appear on the tax bill (also referred to as a "tax notice") issued to each landowner in the District. The statutes relating to enforcement of Taxes and Assessments provide that such Taxes and Assessments become due and payable on November 1 of the year when assessed, or as soon thereafter as the certified tax roll is received by the Tax Collector, and constitute a lien upon the land from January 1 of such year until paid or barred by operation of law. Such taxes and assessments – including the Series 2023 Special Assessments – are to be billed, and landowners in the District are required to pay, all Taxes and Assessments without preference in payment of any particular increment of the tax bill, such as the increment owing for the Series 2023 Special Assessments.

All Taxes and Assessments are payable at one time, except for partial payment schedules as may be provided by Florida law such as Sections 197.374 and 197.222, Florida Statutes. Partial payments made pursuant to Sections 197.374 and 197.222, Florida Statutes, are distributed in equal proportion to all taxing districts and levying authorities applicable to that account. If a taxpayer does not make complete payment of the total amount, he or she cannot designate specific line items on his or her tax bill as deemed paid in full. Therefore, in the event the Series 2023 Special Assessments are to be collected pursuant to the Uniform Method, any failure to pay any one line item, would cause the Series 2023 Special Assessments to not be collected to that extent, which could have a significant adverse effect on the ability of the District to make full or punctual payment of the debt service requirements on the Series 2023 Bonds.

Under the Uniform Method, if the Series 2023 Special Assessments are paid during November when due or during the following three months, the taxpayer is granted a variable discount equal to 4% in November and decreasing one percentage point per month to 1% in February. All unpaid Taxes and Assessments become delinquent on April 1 of the year following assessment.

The Tax Collector is required to collect the Taxes and Assessments on the tax bill prior to April 1 and, after that date, to institute statutory procedures upon delinquency to collect such Taxes and Assessments through the sale of "tax certificates," as discussed below. Delay in the mailing of tax notices to taxpayers may result in a delay throughout this process. Neither the District nor the Underwriter can give any assurance to the holders of the Series 2023 Bonds (1) that the past experience of the Tax Collector with regard to tax and special assessment delinquencies is applicable in any way to the Series 2023 Special Assessments, (2) that future landowners and taxpayers in the District will pay such Series 2023 Special Assessments, (3) that a market may exist in the future for tax certificates in the event of sale of such certificates for taxable units within the District, and (4) that the eventual sale of tax certificates for real property within the District, if any, will be for an amount sufficient to pay amounts due under the Assessment Proceedings to discharge the lien of the Series 2023 Special Assessments and all other liens that are coequal therewith.
Collection of delinquent Series 2023 Special Assessments under the Uniform Method is, in essence, based upon the sale by the Tax Collector of "tax certificates" and remittance of the proceeds of such sale to the District for payment of the Series 2023 Special Assessments due. Prior to the sale of tax certificates, the landowner may bring current the delinquent Taxes and Assessments and cancel the tax certificate process by paying the total amount of delinquent Taxes and Assessments plus all applicable interest, costs and charges. If the landowner does not act, the Tax Collector is required to attempt to sell tax certificates by public bid to the person who pays the delinquent Taxes and Assessments owing, and any applicable interest, costs and charges, and who accepts the lowest interest rate per annum to be borne by the certificates (but not more than 18%).

If there are no bidders, the tax certificate is issued to the County. The County is to hold, but not pay for, the tax certificate with respect to the property, bearing interest at the maximum legal rate of interest, which is currently 18%. The Tax Collector does not collect any money if tax certificates are issued, or struck off, to the County. The County may sell such certificates to the public at any time after issuance, but before a tax deed application is made, at the face amount thereof plus interest at the rate of not more than 18% per annum, costs and charges. Proceeds from the sale of tax certificates are required to be used to pay Taxes and Assessments (including the Series 2023 Special Assessments), interest, costs and charges on the real property described in the certificate.

Unless full payment for a tax deed is made to the clerk of court, including documentary stamps and recording fees, any tax certificate in the hands of a person other than the County may be redeemed and canceled, in whole or in part (under certain circumstances), at any time before a tax deed is issued, and at a price equal to the face amount of the certificate or portion thereof together with all interest, costs, and charges due. Regardless of the interest rate actually borne by the certificates, persons redeeming tax certificates must pay a minimum interest rate of 5%, unless the rate borne by the certificates is zero percent. The proceeds of such a redemption are paid to the Tax Collector who transmits to the holder of the tax certificate such proceeds less service charges, and the certificate is canceled. Redemption of tax certificates held by the County is effected by purchase of such certificates from the County, as described above.

For any holder other than the County, a tax certificate expires seven years after the date of issuance, if a tax deed has not been applied for, and no other administrative or legal proceeding, including a bankruptcy, has existed of record, the tax certificate is null and void. After an initial period ending two years from April 1 of the year of issuance of a certificate, during which period actions against the land are held in abeyance to allow for sales and redemptions of tax certificates, and before the expiration of seven years from the date of issuance, the holder of a certificate may apply for a tax deed to the subject land. The applicant is required to pay to the Tax Collector at the time of application all amounts required to redeem or purchase all other outstanding tax certificates covering the land, plus interest, any omitted taxes or delinquent taxes and interest, and current taxes, if due (as well as any costs of resale, if applicable). If the County holds a tax certificate on property valued at $5,000 or more and has not succeeded in selling it, the County must apply for a tax deed two years after April 1 of the year of issuance of the certificate or as soon thereafter as is reasonable. The County pays costs and fees to the Tax Collector but not any amount to redeem any other outstanding certificates covering the land. Thereafter, the property is advertised for public sale.

In any such public sale conducted by the Clerk of the Circuit Court, the private holder of the tax certificate who is seeking a tax deed for non-homestead property is deemed to submit a minimum bid equal to the amount required to redeem the tax certificate, charges for the cost of sale, including costs incurred for the service of notice required by statute, redemption of other tax certificates on the land, and all other costs to the applicant for the tax deed, plus interest thereon. In the case of homestead property, the minimum bid is also deemed to include, in addition to the amount of money required for the minimum bid on non- homestead property, an amount equal to one-half of the latest assessed value of the homestead. If there are
no higher bids, the holder receives title to the land, and the amounts paid for the certificate and in applying for a tax deed are credited toward the purchase price. The holder is also responsible for payment of any amounts included in the bid not already paid, including but not limited to, documentary stamp tax, recording fees, and, if property is homestead property, the moneys to cover the one-half value of the homestead. If there are other bids, the holder may enter the bidding. The highest bidder is awarded title to the land. The portion of proceeds of such sale needed to redeem the tax certificate, together with all subsequent unpaid taxes plus the costs and expenses of the application for deed, with interest on the total of such sums, are forwarded to the holder thereof or credited to such holder if such holder is the successful bidder. Excess proceeds are distributed first to satisfy governmental liens against the land and then to the former title holder of the property (less service charges), lienholder of record, mortgagees of record, vendees of recorded contracts for deeds, and other lienholders and any other person to whom the land was last assessed on the tax roll for the year in which the land was assessed, all as their interest may appear. If the property is purchased for an amount in excess of the statutory bid of the certificate holder, but such excess is not sufficient to pay all governmental liens of record, the excess shall be paid to each governmental unit pro rata.

Except for certain governmental liens and certain restrictive covenants and restrictions, no right, interest, restriction or other covenant survives the issuance of a tax deed. Thus, for example, outstanding mortgages on property subject to a tax deed would be extinguished.

If there are no bidders at the public sale, the clerk shall enter the land on a list entitled "lands available for taxes" and shall immediately notify the County that the property is available. At any time within ninety (90) days from the date the property is placed on the list, the County may purchase the land for the opening bid, or may waive its rights to purchase the property. Thereafter, and without further notice or advertising, any person, the County or any other governmental unit may purchase the land by paying the amount of the opening bid. Ad valorem taxes and non-ad valorem assessments accruing after the date of public sale do not require repetition of the bidding process but are added to the minimum bid. Three years from the date the property was offered for sale, unsold lands escheat to the County in which they are located, free and clear, and all tax certificates and liens against the property are canceled and a deed is executed vesting title in the governing board of such County.

There can be no guarantee that the Uniform Method will result in the payment of Series 2023 Special Assessments. For example, the demand for tax certificates is dependent upon various factors, which include the rate of interest that can be earned by ownership of such certificates and the underlying value of the land that is the subject of such certificates and which may be subject to sale at the demand of the certificate holder. Therefore, the underlying market value of the property within the District may affect the demand for certificates and the successful collection of the Series 2023 Special Assessments, which are the primary source of payment of the Series 2023 Bonds. Additionally, legal proceedings under Federal bankruptcy law brought by or against a landowner who has not yet paid his or her property taxes or assessments would likely result in a delay in the sale of tax certificates. See "BONDHOLDERS' RISKS."

BONDOWNERS' RISKS

There are certain risks inherent in an investment in bonds issued by a public authority or governmental body in the State and secured by special assessments. Certain of these risks are described in other sections of this Limited Offering Memorandum. Certain additional risks are associated with the Series 2023 Bonds offered hereby and are set forth below. Prospective investors in the Series 2023 Bonds should have such knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of an investment in the Series 2023 Bonds and have the ability to bear the economic risks of such prospective investment, including a complete loss of such investment. This section does not purport to summarize all risks that may be associated with purchasing or owning the Series 2023 Bonds, and
prospective purchasers are advised to read this Limited Offering Memorandum in its entirety for a more complete description of investment considerations relating to the Series 2023 Bonds.

Concentration of Land Ownership

As of the date hereof, the Landowner owns all of the assessable lands within the Series 2023 Assessment Area, which are the lands that will be subject to the Series 2023 Special Assessments securing the Series 2023 Bonds. Payment of the Series 2023 Special Assessments is primarily dependent upon their timely payment by the Landowner and the other future landowners in the Series 2023 Assessment Area. Non-payment of the Series 2023 Special Assessments by any of the landowners could have a substantial adverse impact upon the District's ability to pay debt service on the [related Series of the] Series 2023 Bonds. See "THE LANDOWNER" and "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS" herein.

Bankruptcy and Related Risks

In the event of the institution of bankruptcy or similar proceedings with respect to the Landowner or any other owner of benefited property, delays could occur in the payment of debt service on the Series 2023 Bonds, as such bankruptcy could negatively impact the ability of: (i) the Landowner and any other landowner to pay the Series 2023 Special Assessments; (ii) the Tax Collector to sell tax certificates in relation to such property with respect to the Series 2023 Special Assessments being collected pursuant to the Uniform Method; and (iii) the District to foreclose the lien of the Series 2023 Special Assessments not being collected pursuant to the Uniform Method. In addition, the remedies available to the Owners of the Series 2023 Bonds under the Indenture are in many respects dependent upon judicial actions which are often subject to discretion and delay. Under existing constitutional and statutory law and judicial decisions, the remedies specified by federal, state and local law and in the Indenture and the Series 2023 Bonds, including, without limitation, enforcement of the obligation to pay Series 2023 Special Assessments and the ability of the District to foreclose the lien of the Series 2023 Special Assessments if not being collected pursuant to the Uniform Method, may not be readily available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Series 2023 Bonds (including Bond Counsel's approving opinion) will be qualified as to the enforceability of the various legal instruments by limitations imposed by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors enacted before or after such delivery. The inability, either partially or fully, to enforce remedies available with respect to the Series 2023 Bonds could have a material adverse impact on the interest of the Owners thereof.

A 2011 bankruptcy court decision in Florida held that the governing body of a community development district, and not the bondholders or indenture trustee, was the creditor of the landowners/debtors in bankruptcy with respect to claims for special assessments, and thus only the district could vote to approve or disapprove a reorganization plan submitted by the debtors in the case. The district voted in favor of the plan. The governing body of the district was at that time elected by the landowners rather than qualified electors. Under the reorganization plan that was approved, a two-year moratorium was placed on the debtor landowners' payment of special assessments. As a result of this non-payment of assessments, debt service payments on the district's bonds were delayed for two years or longer. The Master Indenture provides for the delegation of certain rights from the District to the Trustee in the event of a bankruptcy or similar proceeding with respect to an "Insolvent Taxpayer" (as previously defined). See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS – Master Indenture
Provisions Relating to Bankruptcy or Insolvency of a Landowner" herein. The District cannot express any view whether such delegation would be enforceable.
Series 2023 Special Assessments Are Non-Recourse

The principal security for the payment of the principal and interest on the Series 2023 Bonds is the timely collection of the Series 2023 Special Assessments. The Series 2023 Special Assessments do not constitute a personal indebtedness of the landowners of the land subject thereto, but are secured by a lien on such land. There is no assurance that the Landowner or subsequent landowners will be able to pay the Series 2023 Special Assessments or that they will pay such Series 2023 Special Assessments even though financially able to do so. Neither the Landowner nor any other subsequent landowners have any personal obligation to pay the Series 2023 Special Assessments. Neither the Landowner nor any subsequent landowners are guarantors of payment of any Series 2023 Special Assessments, and the recourse for the failure of the Landowner or any subsequent landowner to pay the Series 2023 Special Assessments is limited to the collection proceedings against the land subject to such unpaid Series 2023 Special Assessments, as described herein. Therefore the likelihood of collection of the Series 2023 Special Assessments may ultimately depend on the market value of the land subject to the Series 2023 Special Assessments. While the ability of the Landowner or subsequent landowners to pay the Series 2023 Special Assessments is a relevant factor, the willingness of the Landowner or subsequent landowners to pay the Series 2023 Special Assessments, which may also be affected by the value of the land subject to the Series 2023 Special Assessments, is also an important factor in the collection of Series 2023 Special Assessments. The failure of the Landowner or subsequent landowners to pay the Series 2023 Special Assessments could render the District unable to collect delinquent Series 2023 Special Assessments and provided such delinquencies are significant, could negatively impact the ability of the District to make the full or punctual payment of debt service on the Series 2023 Bonds.

Regulatory and Environmental Risks

The development of the Series 2023 Assessment Area is subject to comprehensive federal, state and local regulations and future changes to such regulations. Approval is required from various public agencies in connection with, among other things, the design, nature and extent of planned improvements, both public and private, and construction of the infrastructure in accordance with applicable zoning, land use and environmental regulations. Although all such approvals required to date have been received and any further approvals are anticipated to be received as needed, failure to obtain any such approvals in a timely manner could delay or adversely affect the completion of the development of the Series 2023 Assessment Area. See "THE DEVELOPMENT – Development Approvals" herein for more information.

The value of the land within the District, the success of the Development, the development of the Series 2023 Assessment Area and the likelihood of timely payment of principal and interest on the Series 2023 Bonds could be affected by environmental factors with respect to the land in the District. Should the land be contaminated by hazardous materials, this could materially and adversely affect the value of the land in the District, which could materially and adversely affect the success of the development of the lands within the District and the likelihood of the timely payment of the Series 2023 Bonds. The District has not performed, nor has the District requested that there be performed on its behalf, any independent assessment of the environmental conditions within the District. See "THE DEVELOPMENT – Environmental" for information on environmental site assessments obtained or received. Such information is being provided solely for informational purposes, and nothing herein or in such assessments grants any legal rights or remedies in favor of the Series 2023 Bondholders in the event any recognized environmental conditions are later found to be present on the Series 2023 Assessment Area. Nevertheless, it is possible that hazardous environmental conditions could exist within the District or in the vicinity of the District and that such conditions could have a material and adverse impact upon the value of the benefited lands within the District. No assurance can be given that unknown hazardous materials, protected animals or vegetative species, etc., do not currently exist or may not develop in the future, whether originating within the District
or from surrounding property, and what effect such may have on the development or sale of the lands in the Series 2023 Assessment Area.

The value of the lands subject to the Series 2023 Special Assessments could also be adversely impacted by flooding or wind damage caused by hurricanes, tropical storms, or other catastrophic events. In addition to potential damage or destruction to any existing development or construction in or near the District, such catastrophic events could potentially render the Series 2023 Assessment Area unable to support future development. The occurrence of any such events could materially adversely impact the District's ability to pay principal and interest on the Series 2023 Bonds. The Series 2023 Bonds are not insured, and the District's casualty insurance policies do not insure against losses incurred on private lands within its boundaries.

Economic Conditions and Changes in Development Plans

The successful development of the Series 2023 Assessment Area and the sale of residential units therein, once such homes are built, may be affected by unforeseen changes in general economic conditions, fluctuations in the real estate market and other factors beyond the control of the Landowner. Moreover, the Landowner has the right to modify or change plans for development of the Development from time to time, including, without limitation, land use changes, changes in the overall land and phasing plans, and changes to the type, mix, size and number of units to be developed, and may seek in the future, in accordance with and subject to the provisions of the Act, to contract or expand the boundaries of the District.

Other Taxes and Assessments

The willingness and/or ability of an owner of benefited land to pay the Series 2023 Special Assessments could be affected by the existence of other taxes and assessments imposed upon such property by the District, the County or any other local special purpose or general purpose governmental entities. County, school, special district taxes and special assessments, and voter-approved ad valorem taxes levied to pay principal of and interest on debt, including the Series 2023 Special Assessments, collected pursuant to the Uniform Method are payable at one time. Public entities whose boundaries overlap those of the District could, without the consent of the owners of the land within the District, impose additional taxes on the property within the District. The District anticipates imposing operation and maintenance assessments encumbering the same property encumbered by the Series 2023 Special Assessments. In addition, lands within the District may also be subject to assessments by property owners' and homeowners' associations. See "THE DEVELOPMENT – Taxes, Fees and Assessments" herein for additional information.

Under Florida law, a landowner may contest the assessed valuation determined for its property that forms the basis of ad-valorem taxes such landowner must pay. During this contest period, the sale of a tax certificate under the Uniform Method will be suspended. If the Series 2023 Special Assessments are being collected along with ad valorem taxes pursuant to the Uniform Method, tax certificates will not be sold with respect to such Series 2023 Special Assessment, even though the landowner is not contesting the amount of the Series 2023 Special Assessment. However, Section 194.014, Florida Statutes, requires taxpayers challenging the assessed value of their property to pay all non-ad valorem assessments and at least 75% of their ad valorem taxes before they become delinquent. Likewise, taxpayers who challenge the denial of an exemption or classification or a determination that their improvements were substantially complete must pay all non-ad valorem assessments and the amount of ad valorem taxes that they admit in good faith to be owing. If a taxpayer fails to pay property taxes as set forth above, the Value Adjustment Board considering the taxpayer's challenge is required to deny such petition by written decision by April 20 of such year.
Limited Secondary Market for Series 2023 Bonds

The Series 2023 Bonds may not constitute a liquid investment, and there is no assurance that a liquid secondary market will exist for the Series 2023 Bonds in the event an Owner thereof determines to solicit purchasers for the Series 2023 Bonds. Even if a liquid secondary market exists, there can be no assurance as to the price for which the Series 2023 Bonds may be sold. Such price may be lower than that paid by the current Owners of the Series 2023 Bonds, depending on the progress of development of the Development and the lands within the Series 2023 Assessment Area, as applicable, existing real estate and financial market conditions and other factors.

Inadequacy of Reserve Account

Some of the risk factors discussed herein, which, if materialized, would result in a delay in the collection of the Series 2023 Special Assessments, may not adversely affect the timely payment of debt service on the Series 2023 Bonds because of the Series 2023 Reserve Account. The ability of the Series 2023 Reserve Account to fund deficiencies caused by delinquencies in the Series 2023 Special Assessments is dependent on the amount, duration and frequency of such deficiencies. Moneys on deposit in the Series 2023 Reserve Account may be invested in certain obligations permitted under the Indenture. Fluctuations in interest rates and other market factors could affect the amount of moneys in such Reserve Account to make up deficiencies. If the District has difficulty in collecting the Series 2023 Special Assessments, the Series 2023 Reserve Account would be rapidly depleted and the ability of the District to pay debt service on the Series 2023 Bonds could be materially adversely affected. In addition, during an Event of Default under the Indenture, the Trustee may withdraw moneys from the Series 2023 Reserve Account and such other Funds, Accounts and subaccounts created under the Indenture to pay its extraordinary fees and expenses incurred in connection with such Event of Default. If in fact the Series 2023 Reserve Account is accessed for any purpose, the District does not have a designated revenue source for replenishing such account. Moreover, the District may not be permitted to re-assess real property then burdened by the Series 2023 Special Assessments in order to provide for the replenishment of the Series 2023 Reserve Account. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS – Series 2023
Reserve Account" herein for more information about the Series 2023 Reserve Account.

Legal Delays

If the District should commence a foreclosure action against a landowner for nonpayment of Series 2023 Special Assessments that are not being collected pursuant to the Uniform Method, such landowner and/or its mortgagee(s) may raise affirmative defenses to such foreclosure action. Although the District expects that such affirmative defenses would likely be proven to be without merit, they could result in delays in completing the foreclosure action. In addition, the District is required under the Indenture to fund the costs of such foreclosure. It is possible that the District will not have sufficient funds and will be compelled to request the Holders of the Series 2023 Bonds to allow funds on deposit under the Indenture to be used to pay the costs of the foreclosure action. Under the Code (as defined herein), there are limitations on the amounts of proceeds from the Series 2023 Bonds that can be used for such purpose.

IRS Examination and Audit Risk

The Internal Revenue Service (the "IRS") routinely examines bonds issued by state and local governments, including bonds issued by community development districts. In 2016, the IRS concluded its lengthy examination of certain issues of bonds (for purposes of this subsection, the "Audited Bonds") issued by Village Center Community Development District (the "Village Center CDD"). During the course of the audit of the Audited Bonds, Village Center CDD received a ruling dated May 30, 2013, in the form of a non-precedential technical advice memorandum ("TAM") concluding that Village Center CDD is not a
political subdivision for purposes of Section 103(a) of the Code because Village Center CDD was organized and operated to perpetuate private control and avoid indefinitely responsibility to an electorate, either directly or through another elected state or local government body. Such a conclusion could lead to the further conclusion that the interest on the Audited Bonds was not excludable from gross income of the owners of such bonds for federal income tax purposes. Village Center CDD received a second TAM dated June 17, 2015, which granted relief to Village Center CDD from retroactive application of the IRS's conclusion regarding its failure to qualify as a political subdivision. Prior to the conclusion of the audits, the Audited Bonds were all refunded with taxable bonds. The audit of the Audited Bonds that were issued for utility improvements were closed without change to the tax exempt status of those Audited Bonds on April 25, 2016, and the audit of the remainder of the Audited Bonds (which funded recreational amenity acquisitions from entities related to the principal landowner in the Village Center CDD) was closed on July 14, 2016, without the IRS making a final determination that the interest on the Audited Bonds in question was required to be included in gross income. However, the IRS letter to the Village Center CDD with respect to this second set of Audited Bonds noted that the IRS found that the Village Center CDD was not a "proper issuer of tax-exempt bonds" and that those Audited Bonds were private-activity bonds that did not fall in any of the categories that qualify for tax-exemption. Although the TAMs and the letters to the Village Center CDD from the IRS referred to above are addressed to, and binding only on, the IRS and Village Center CDD in connection with the Audited Bonds, they reflect the audit position of the IRS, and there can be no assurance that the IRS would not commence additional audits of bonds issued by other community development districts raising issues similar to the issues raised in the case of the Audited Bonds based on the analysis set forth in the first TAM or on the related concerns addressed in the July 14, 2016 letter to the Village Center CDD.

On February 23, 2016, the IRS published proposed regulations designed to provide prospective guidance with respect to potential private business control of issuers by providing a new definition of political subdivision for purposes of determining whether an entity is an appropriate issuer of bonds the interest on which is excluded from gross income for federal tax purposes. The proposed regulations required that a political subdivision (i) have the power to exercise at least one sovereign power, (ii) be formed and operated for a governmental purpose, and (iii) have a governing body controlled by or have significant uses of its funds or assets otherwise controlled by a government unit with all three sovereign powers or by an electorate that is not controlled by an unreasonably small number of unrelated electors. On October 4, 2017, the Treasury Department ("Treasury") announced that it would withdraw the proposed regulations, stating that, "while Treasury and the IRS continue to study the legal issues relating to political subdivisions, Treasury and the IRS currently believe that these proposed regulations should be withdrawn in their entirety, and plan to publish a withdrawal of the proposed regulations shortly in the Federal Register. Treasury and the IRS may propose more targeted guidance in the future after further study of the relevant legal issues." Notice of withdrawal of the proposed regulations was published in the Federal Register on October 20, 2017.

It has been reported that the IRS has closed audits of other community development districts in the State with no change to such districts' bonds' tax-exempt status, but has advised such districts that such districts must have public electors within the timeframe established by the applicable state law or their bonds may be determined to be taxable retroactive to the date of issuance. Pursuant to the Act, general elections are not held until the later of six years from the date of establishment of the community development district or the time at which there are at least 250 qualified electors in the district. The District, unlike Village Center CDD, was formed with the intent that it will contain a sufficient number of residents to allow for a transition to control by a general electorate. Currently, all of the members of the Board of the District were elected by the landowners and none were elected by qualified electors. The Landowner will certify as to its expectations as to the timing of the transition of control of the Board of the District to qualified electors pursuant to the Act. Such certification by the Landowner does not ensure that such certification shall be determinative of, or may influence the outcome of any audit by the IRS, or any appeal
from such audit, that may result in an adverse ruling that the District is not a political subdivision for purposes of Section 103(a) of the Code. Further, there can be no assurance that an audit by the IRS of the Series 2023 Bonds will not be commenced. The District has no reason to believe that any such audit will be commenced, or that any such audit, if commenced, would result in a conclusion of noncompliance with any applicable State or federal law.

Owners of the Series 2023 Bonds are advised that, if the IRS does audit the Series 2023 Bonds, under its current procedures, at least during the early stages of an audit, the IRS will treat the District as the taxpayer, and the Owners of the Series 2023 Bonds may have limited rights to participate in those proceedings. The commencement of such an audit could adversely affect the market value and liquidity of the Series 2023 Bonds until the audit is concluded, regardless of the ultimate outcome. In addition, in the event of an adverse determination by the IRS with respect to the tax-exempt status of interest on the Series 2023 Bonds, it is unlikely the District will have available revenues to enable it to contest such determination or enter into a voluntary financial settlement with the IRS. Further, an adverse determination by the IRS with respect to the tax-exempt status of interest on the Series 2023 Bonds would adversely affect the availability of any secondary market for the Series 2023 Bonds. Should interest on the Series 2023 Bonds become includable in gross income for federal income tax purposes, not only will Owners of Series 2023 Bonds be required to pay income taxes on the interest received on such Series 2023 Bonds and related penalties, but because the interest rate on such Series 2023 Bonds will not be adequate to compensate Owners of the Series 2023 Bonds for the income taxes due on such interest, the value of the Series 2023 Bonds may decline.

THE INDENTURE DOES NOT PROVIDE FOR ANY ADJUSTMENT IN THE INTEREST RATES ON THE SERIES 2023 BONDS IN THE EVENT OF AN ADVERSE DETERMINATION BY THE IRS WITH RESPECT TO THE TAX-EXEMPT STATUS OF INTEREST ON THE SERIES 2023 BONDS. PROSPECTIVE PURCHASERS OF THE SERIES 2023 BONDS SHOULD EVALUATE WHETHER THEY CAN OWN THE SERIES 2023 BONDS IN THE EVENT THAT THE INTEREST ON THE SERIES 2023 BONDS BECOMES TAXABLE AND/OR THE DISTRICT IS EVER DETERMINED TO NOT BE A POLITICAL SUBDIVISION FOR PURPOSES OF THE CODE AND/OR SECURITIES ACT (AS HEREINAFTER DEFINED).

Loss of Exemption from Securities Registration

The Series 2023 Bonds have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, because of the exemption for securities issued by political subdivisions. It is possible that federal or state regulatory authorities could in the future determine that the District is not a political subdivision for purposes of federal and state securities laws, including without limitation as the result of a determination by the IRS, judicial or otherwise, of the District's status for purposes of the Code. In such event, the District and purchasers of Series 2023 Bonds may not be able to rely on the exemption from registration under the Securities Act relating to securities issued by political subdivisions. In that event, the Owners of the Series 2023 Bonds would need to ensure that subsequent transfers of the Series 2023 Bonds are made pursuant to a transaction that is not subject to the registration requirements of the Securities Act and applicable state securities laws.

Federal Tax Reform

Various legislative proposals are mentioned from time to time by members of Congress of the United States of America and others concerning reform of the internal revenue (tax) laws of the United States. In addition, the IRS may, in the future, issue rulings that have the effect of challenging the interpretation of existing tax laws. Certain of these proposals and interpretations, if implemented or upheld, could have the effect of diminishing the value of obligations of states and their political subdivisions, such
as the Series 2023 Bonds, by eliminating or changing the tax-exempt status of interest on such bonds. Whether any such proposals will ultimately become or be upheld as law, and if so, the effect such proposals could have upon the value of bonds such as the Series 2023 Bonds cannot be predicted. However, it is possible that any such law or interpretation could have a material and adverse effect upon the availability of a liquid secondary market and/or the value of the Series 2023 Bonds. Prospective purchasers of the Series 2023 Bonds should consult their tax advisors as to the impact of any proposed or pending legislation. See also "TAX MATTERS" herein.

State Tax Reform

It is impossible to predict what new proposals may be presented regarding tax reform and/or community development districts during upcoming legislative sessions, whether such new proposals or any previous proposals regarding the same will be adopted by the Florida Senate and House of Representatives and signed by the Governor, and, if adopted, the form thereof. On October 31, 2014, the Auditor General of the State released a 31-page report which requests legislative action to establish parameters on the amount of bonds a community development district may issue and provide additional oversight for community development district bonds. This report renewed requests made by the Auditor General in 2011 that led to the Governor of the State issuing an Executive Order on January 11, 2012 (the "Executive Order") directing the Office of Policy and Budget in the Executive Office of the Governor ("OPB") to examine the role of special districts in the State. As of the date hereof, the OPB has not made any recommendations pursuant to the Executive Order nor has the Florida legislature passed any related legislation. It is impossible to predict with certainty the impact that any existing or future legislation will or may have on the security for the Series 2023 Bonds. It should be noted that Section 190.16(14) of the Act provides in pertinent part that "The state pledges to the holders of any bonds issued under the Act that it will not limit or alter the rights of the district to levy and collect the … assessments… and to fulfill the terms of any agreement made with the holders of such bonds … and that it will not impair the rights or remedies of such holders."

Insufficient Resources or Other Factors Causing Failure to Complete Development

The cost to finish the Series 2023 Project will exceed the net proceeds from the Series 2023 Bonds. There can be no assurance, in the event the District does not have sufficient moneys on hand to complete the Series 2023 Project, that the District will be able to raise, through the issuance of additional bonds or otherwise, the moneys necessary to complete the Series 2023 Project. Further, the Indenture sets forth certain limitations on the issuance of additional bonds. See "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS – Additional Bonds" for more information.

Although the Landowner will agree to fund or cause to be funded the completion of the Series 2023 Project regardless of the insufficiency of proceeds from the Series 2023 Bonds and will enter into a completion agreement with the District as evidence thereof, there can be no assurance that the Landowner will have sufficient resources to do so. Such obligation of the Landowner is an unsecured obligation, and the Landowner is a special-purpose entity whose assets consist primarily of its interest in the Series 2023 Assessment Area. See "THE LANDOWNER" herein for more information.

There are no assurances that the Series 2023 Project and any other remaining development work associated with the Series 2023 Assessment Area will be completed. Further, there is a possibility that, even if the Series 2023 Assessment Area is developed, the Builder may not close on all or any of the lots therein, and such failure to close could negatively impact the construction and sale of homes in the Series 2023 Assessment Area. The Builder Contract may also be terminated by the Builder upon the occurrence or failure to occur of certain conditions set forth therein. See "THE DEVELOPMENT – The Builder Contract" herein for more information about the Builder and the Builder Contract.
Pandemics and Other Public Health Emergencies

The COVID-19 pandemic severely impacted global financial markets, unemployment levels and commerce generally. It is possible that, in the future, the spread of epidemic or pandemic diseases and/or government health and public safety restrictions imposed in response thereto could adversely impact the District, the Landowner, the timely and successful completion of the Development, the purchase of lots therein by the Builder and the construction and sale to purchasers of residential units therein. Such impacts could include delays in obtaining development approvals, construction delays, supply chain delays, or increased costs. See also "Economic Conditions and Changes in Development Plans" and "Insufficient Resources or Other Factors Causing Failure to Complete Development" herein.

Cybersecurity

The District relies on a technological environment to conduct its operations. The District, its agents and other third parties the District does business with or otherwise relies upon are subject to cyber threats including, but not limited to, hacking, viruses, malware and other attacks on computer and other sensitive digital networks and systems. Entities or individuals may attempt to gain unauthorized access to such parties' digital systems for the purposes of misappropriating assets or information or causing operational disruption and damage. No assurances can be given that any such attack(s) will not materially impact the operations or finances of the District, which could impact the timely payment of debt service on the Series 2023 Bonds.

Prepayment and Redemption Risk

In addition to being subject to optional and mandatory sinking fund redemptions, the Series 2023 Bonds are subject to extraordinary mandatory redemption, including, without limitation, as a result of prepayments of the Series 2023 Special Assessments by the Landowner or subsequent owners of the property within the Series 2023 Assessment Area. Any such redemptions of the Series 2023 Bonds would be at the principal amount of such Series 2023 Bonds being redeemed plus accrued interest to the date of redemption. In such event, owners of the Series 2023 Bonds may not realize their anticipated rate of return on the Series 2023 Bonds and owners of any Premium Bonds (as defined herein) may receive less than the price they paid for the Series 2023 Bonds. See "DESCRIPTION OF THE SERIES 2023 BONDS – Redemption Provisions," "– Purchase of Series 2023 Bonds" and "SECURITY FOR AND SOURCE OF PAYMENT OF THE SERIES 2023 BONDS – Prepayment of Series 2023 Special Assessments" herein for more information.

Payment of Series 2023 Special Assessments after Bank Foreclosure

In the event a bank forecloses on property because of a default on a mortgage in favor of such bank on any of the assessable lands within the District, and then the bank itself fails, the Federal Deposit Insurance Corporation (the "FDIC"), as receiver, will then become the fee owner of such property. In such event, the FDIC will not, pursuant to its own rules and regulations, likely be liable to pay the Series 2023 Special Assessments levied on such property. In addition, the District would require the consent of the FDIC prior to commencing a foreclosure action.

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ESTIMATED SOURCES AND USES OF FUNDS

The table that follows summarizes the estimated sources and uses of proceeds of the Series 2023
Bonds:

Total
  Series 2023 Bonds 
Sources of Funds:
Principal Amount	$	
[Less Original Issue Discount]		
Total Sources	$	

Use of Funds:
Deposit to Series 2023 Acquisition and Construction Account	$		 Deposit to Series 2023 Reserve Account			 Deposit to Series 2023 Interest Account(1)

Costs of Issuance(2)
Total Uses	$	

Includes Capitalized Interest through [	1, 20  ].
Costs of issuance include, without limitation, underwriter's discount, legal fees and other costs associated with the issuance of the Series 2023 Bonds.

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DEBT SERVICE REQUIREMENTS

The following table sets forth the scheduled debt service on the Series 2023 Bonds:

Period Ending

Series 2023 Bonds	Total Debt
November 1
Principal	Interest
Service

Totals

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THE DISTRICT

General

The District is an independent local unit of special-purpose government created in accordance with the Act. The District was established under Ordinance No. O-21-19, which was enacted by the Town on October 5, 2021, as amended by Ordinance No. O-23-05 enacted on May 2, 2023. The District encompasses approximately 211.113 gross acres of land located within the incorporated municipal boundaries of the Town. The District is located at Scenic Highway (State Road 17) and Hughes Road, approximately one miles east of US Highway 27. The majority of the District Lands are being developed as part of a planned residential community known as "Scenic Terrace" (the "Development"). See "THE DEVELOPMENT" herein for more information.

Governance

The Act provides that a five-member Board of Supervisors (the "Board") serves as the governing body of the District. Members of the Board (the "Supervisors") must be residents of the State and citizens of the United States. Initially, the Supervisors were appointed in the Ordinance. Within 90 days after formation of the District, an election was held pursuant to which new Supervisors were elected on an at- large basis by the owners of the property within the District. Ownership of land within the District entitles the owner to one vote per acre (with fractions thereof rounded upward to the nearest whole number). A Supervisor serves until expiration of his or her term and until his or her successor is chosen and qualified. If, during a term of office, a vacancy occurs, the remaining Supervisors may fill the vacancy by an appointment of an interim Supervisor for the remainder of the unexpired term.

At the initial election held within 90 days after formation of the District, the landowners in the District elected two Supervisors to four-year terms and three Supervisors to two-year terms. Thereafter, the elections take place every two years, with the first such election being held on the first Tuesday in November, and subsequent elections being held on a date in November established by the Board. Upon the later of six years after the initial appointment of Supervisors and the year when the District next attains at least 250 qualified electors, Supervisors whose terms are expiring will begin to be elected by qualified electors of the District. A qualified elector is a registered voter who is at least eighteen years of age, a resident of the District and the State and a citizen of the United States. At the election where Supervisors are first elected by qualified electors, two Supervisors must be qualified electors and be elected by qualified electors, each elected to four-year terms. The seat of the remaining Supervisor whose term is expiring at such election shall be filled by a Supervisor who is elected by the landowners for a four-year term and who is not required to be a qualified elector. Thereafter, as terms expire, all Supervisors must be qualified electors and must be elected by qualified electors to serve staggered four-year terms.

Notwithstanding the foregoing, if at any time the Board proposes to exercise its ad valorem taxing power, prior to the exercise of such power, it shall call an election at which all Supervisors shall be elected by qualified electors in the District. Elections subsequent to such decision shall be held in a manner such that the Supervisors will serve four-year terms with staggered expiration dates in the manner set forth in the Act.

The Act provides that it shall not be an impermissible conflict of interest under State law governing public officials for a Supervisor to be a stockholder, officer or employee of an owner of the land within the District.
The current members of the Board and the date of expiration of the term of each member are set forth below:

Name	Title	Term Expires	
Warren "Rennie" Heath II*	Chair	November 2023	
Lauren Schwenk*	Vice-Chair	November 2025	
Patricia Hudson*	Assistant Secretary	November 2023	
Daniel Arnette*	Assistant Secretary	November 2023	
Chuck Cavaretta*	Assistant Secretary	November 2025	

* Elected by the landowners; employee of or affiliated with the Landowner or its affiliates.

A majority of the Supervisors constitutes a quorum for the purposes of conducting the business of the District and exercising its powers and for all other purposes. Action taken by the District shall be upon a vote of the majority of the Supervisors present unless general law or a rule of the District requires a greater number. All meetings of the Board are open to the public under the State's "sunshine" or open meetings law.

Legal Powers and Authority

The District is an independent unit of local government created pursuant to, and established in accordance with, the Act. The Act was enacted in 1980 to provide a uniform method for the establishment of independent districts to manage and finance basic community development services, including capital infrastructure required for community developments throughout the State of Florida. The Act provides legal authority for community development districts (such as the District) to finance the acquisition, construction, operation and maintenance of the major infrastructure for community development pursuant to its general law charter.

Among other provisions, the Act gives the District's Board of Supervisors the authority: (a) to finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate and maintain systems, facilities, and basic infrastructure for, among other things: (i) water management and control for lands within the District and to connect any of such facilities with roads and bridges, (ii) water supply, sewer and waste-water management, reclamation and reuse systems or any combination thereof and to construct and operate connecting intercept or outlet sewers and sewer mains and pipes and water mains, conduits, or pipelines in, along, and under any street, alley, highway, or other public place or ways, and to dispose of any effluent, residue, or other byproducts of such system or sewer system, (iii) District roads equal to or exceeding the specifications of the county in which such District roads are located and street lights, landscaping, hardscaping and undergrounding of electric utility lines, (iv) conservation areas, mitigation areas, and wildlife habitat, (v) any other project, facility, or service required by a development approval, interlocal agreement, zoning condition, or permit issued by a governmental authority with jurisdiction in the District, and (vi) with the consent of the local general-purpose government within the jurisdiction of which the power is to be exercised, parks and facilities for indoor and outdoor recreational uses, and security; (b) to borrow money and issue bonds of the District; (c) to impose and foreclose special assessments liens as provided in the Act; and (d) to exercise all other powers, necessary, convenient, incidental or proper in connection with any of the powers or duties of the District stated in the Act.

Also, pursuant to the Ordinance, the District has been granted special powers pursuant to Sections 190.012(1), 190.012(2)(a) of the Act, as well as Sections 190.012(b) – (f) of the Act if said improvements and each of their specifications are first approved by the County. Such special powers include, but are not limited to, the right to (i) finance, fund, plan, establish, acquire, construct or reconstruct, enlarge or extend,
equip, operate, and maintain additional systems and facilities for parks and facilities for indoor and outdoor recreational, cultural and educational uses; and (ii) construct and maintain a perimeter wall/fence for the District so long as the construction and specifications of the wall/fence are first approved by the County.

The Act does not empower the District to adopt and enforce land use plans or zoning ordinances or to grant building permits; these functions are performed by the City and the County, as applicable, acting through their respective Commissions and departments of government.

The Act exempts all property owned by the District from levy and sale by virtue of an execution and from judgment liens, but does not limit the right of any bondholders to pursue any remedy for enforcement of any lien or pledge of the District in connection with its bonds, including the Series 2023 Bonds.

The District Manager and Other Consultants

The chief administrative official of the District is the District Manager. The Act provides that the District Manager shall have charge and supervision of the works of the District and shall be responsible for preserving and maintaining any improvement or facility constructed or erected pursuant to the provisions of the Act, for maintaining and operating the equipment owned by the District, and for performing such other duties as may be prescribed by the Board. Governmental Management Services – Central Florida, LLC, serves as District Manager. The District Manager's corporate office is located at 219 E. Livingston Street, Orlando, Florida 32801.

The Act further authorizes the Board to hire such employees and agents as it deems necessary. Thus, the District has employed the services of Kilinski | Van Wyk PLLC, Tallahassee, Florida, as District Counsel; Greenberg Traurig, P.A., Miami, Florida, as Bond Counsel; and Governmental Management Services – Central Florida, LLC, Orlando, Florida, serves as Methodology Consultant for the Series 2023 Bonds.

Outstanding Bond Indebtedness

On April 6, 2022, the District issued its Special Assessment Bonds, Series 2022 (Series 2022 Project) (the "Series 2022 Bonds") in the original aggregate principal amount of $22,350,000, of which
$22,350,000 was outstanding as of July 21, 2023. The Series 2022 Bonds are secured by the Series 2022 Special Assessments, which are levied on lands within the Series 2022 Assessment Area of the District, which are separate and distinct from the lands within the Series 2023 Assessment Area that are subject to the Series 2023 Assessment Area Special Assessments securing the Series 2023 Bonds.

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THE CAPITAL IMPROVEMENT PLAN AND THE SERIES 2023 PROJECT

The "Engineer's Report – Amended and Restated" dated May 16, 2023 (the "Engineer's Report"), prepared by Dewberry Engineers Inc. (the "District Engineer"), sets forth certain infrastructure improvements associated with the District Lands, which are planned to contain 843 single-family residential lots, along with amenity and recreation areas (collectively, the "Capital Improvement Plan"). The District Engineer estimates the total cost of the Capital Improvement Plan to be approximately $40,593,501.

Land development associated with the Development will occur in phases, and two assessment areas have been created to facilitate the District's development and financing plans. The Series 2022 Assessment Area consists of approximately [172.6] acres of land, which are planned to contain 744 single-family homes at buildout. The Series 2023 Assessment Area consists of approximately [20.56] acres of land, which are planned to contain 99 single-family homes at buildout.

The portion of the Capital Improvement Plan associated with the Series 2022 Assessment Area is referred to herein as the "Series 2022 Project." The District previously issued its Series 2022 Bonds to finance a portion of the Series 2022 Project. The Series 2022 Project is [complete]. See "THE DEVELOPMENT – Update on the Series 2022 Assessment Area" herein for more information.

The Engineer's Report sets forth the costs of the public infrastructure improvements necessary to develop the 99 lots planned for the Series 2023 Assessment Area (the "Series 2023 Project"). The Series 2023 Bonds are being issued to fund a portion of the Series 2023 Project. The District Engineer estimates the total cost of the Series 2023 Project to be $4,135,063, as more particularly described below.

Infrastructure	Total Estimated Cost	
Earthwork	$  312,063.84	
Roadways	600,410.25	
Stormwater System	460,832.13	
Wastewater System	474,990.12	
Potable Water Distribution System	269,017.65	
Reclaimed Water Distribution System	171,995.67	
Electrical Undergrounding	235,191.33	
Landscape & Hardscape	288,068.22	
Amenities	199,596.87	
Offsite Improvements	1,122,897.25	
TOTAL	$ 4,135,063.33	

The net proceeds of the Series 2023 Bonds will finance construction and/or acquisition of a portion of the Series 2023 Project in the approximate amount of $2.0 million.* The Landowner will enter into a completion agreement at closing on the Series 2023 Bonds whereby it will agree to complete the Series 2023 Project. See "THE DEVELOPMENT – Land Acquisition and Development Finance Plan" and

* Preliminary, subject to change.
"BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete Development" herein.

Land development associated with the Series 2023 Assessment Area will commence in [August 2023] and is expected to be completed by [	]. As of [	], 2023, the Landowner had spent approximately $[	] in soft costs [and proportionate share payments for water and wastewater capacity to the Town]. See "THE DEVELOPMENT – Development Plan and Status" herein for more information.

The District Engineer has indicated that all engineering permits necessary to construct the Series 2023 Project as set forth in the Engineer's Report have been obtained or are expected to be obtained in the ordinary course of development. In addition to the Engineer's Report, please refer to "THE DEVELOPMENT – Development Approvals" herein for a more detailed description of the entitlement and permitting status of the Development.

See "APPENDIX A: ENGINEER'S REPORT" for more information regarding the above improvements.

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ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS

The Master Assessment Methodology for Scenic Terrace South Community Development District, dated October 13, 2021, as supplemented by the Supplemental Assessment Methodology for Series 2023 for Scenic Terrace South Community Development District, dated as of July 19, 2023 (collectively, the "Assessment Methodology"), which allocates the Series 2023 Special Assessments to the lands within the District, has been prepared by Governmental Management Services – Central Florida, LLC, Orlando, Florida (the "Methodology Consultant"). See "EXPERTS" herein for more information. A copy of the Assessment Methodology is included herein as APPENDIX D. Once the final terms of the Series 2023 Bonds are determined, the Assessment Methodology will be further supplemented to reflect such final terms. Once levied and imposed, the Series 2023 Special Assessments are a first lien on the assessed lands within the District until paid or barred by operation of law, co-equal with other taxes and assessments levied by the District and other units of government. See "ENFORCEMENT OF ASSESSMENT COLLECTIONS" herein.

The Series 2023 Bonds are payable from and secured by a pledge of the Series 2023 Pledged Revenues, which consist primarily of revenues received by the District from the Series 2023 Special Assessments levied on the assessed lands within the Series 2023 Assessment Area. The Series 2023 Assessment Area consists of approximately [20.56] gross acres planned for 99 single-family homes. The District will initially impose the Series 2023 Special Assessments across all of the lands within the Series 2023 Assessment Area on an equal per acre basis. As parcels are platted within the Series 2023 Assessment Area, the debt will be transferred from gross acres to platted lots in accordance with the Assessment Methodology. See "APPENDIX D: ASSESSMENT METHODOLOGY" for more information.

Upon platting of the Series 2023 Assessment Area, the estimated Series 2023 Special Assessments levied and allocated to platted units to pay debt service on the Series 2023 Bonds and the estimated Series 2023 Bond par per unit are expected to be as follows:

Product Type	No. of Units
Annual Series 2023 Special Assessments Per Unit*
Series 2023 Bonds Par Debt Per Unit*

Single-Family	99	$1,750	$24,747

*	Preliminary, subject to change. Annual assessment collected via the Uniform Method will include a gross up to account for County collection costs/payment discounts, which may fluctuate.

The District expects to levy assessments to cover its operation and maintenance costs, which are expected to be approximately $956 per single-family unit annually, but such amount is subject to change. The District Lands have been and will continue to be subject to taxes and assessments imposed by taxing authorities other than the District. These taxes would be payable in addition to the Series 2023 Special Assessments and any other assessments levied by the District. In addition, exclusive of voter approved millages levied for general obligation bonds, as to which no limit applies, the Town, the County and the School Board of Polk County each levy ad valorem taxes upon the land in the District. The District has no control over the level of ad valorem taxes and/or special assessments levied by other taxing authorities. It is possible that in future years taxes levied by these other entities could be substantially higher than in the current year. See "THE DEVELOPMENT – Taxes, Fees and Assessments" for more information.

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The information appearing below under the captions "THE DEVELOPMENT" and "THE LANDOWNER" has been furnished by the Landowner for inclusion in this Limited Offering Memorandum and, although believed to be reliable, such information has not been independently verified by Bond Counsel, the District or its counsel, or the Underwriter or its counsel, and no persons other than the Landowner make any representation or warranty as to the accuracy or completeness of such information supplied by them. The following information is provided by the Landowner as a means for the prospective bondholders to understand the anticipated development plan and risks associated with the Development. The Landowner is not guaranteeing payment of the Series 2023 Bonds or the Series 2023 Special Assessments.

THE DEVELOPMENT

General Overview

The District encompasses approximately [211.11] gross acres located in the Town of Lake Hamilton within Polk County, Florida. The District Lands contain a portion of the 1,173-unit master planned community which will be marketed under the name "Scenic Terrace" (the "Master Development"). The portion of the Master Development located within the boundaries of the District (the "Development") is planned to contain 843 single-family homes. Adjacent to the District is the Scenic Terrace North Community Development District (the "Scenic Terrace North CDD"), which contains 103.731 gross acres located in the City of Haines City planned to contain 330 single-family homes at buildout. [The Scenic Terrace North CDD recently issued a series of bonds to finance a portion of the public infrastructure improvements associated with such 330 units.] All lots planned within the Scenic Terrace North CDD are under contract with homebuilders, with closings expected upon development completion.

The map below sets forth the general location of the Master Development.

The Master Development is located at Scenic Highway (State Road 17) and Hughes Road, approximately one mile east of U.S. Highway 27. The Master Development is centrally located between Tampa and Orlando. Due to its proximity to both cities, the Master Development serves as a "bedroom community" to those markets, offering price points substantially below that of similarly sized homes in those markets. Walt Disney World Resort and LEGOLAND Florida are located within 30 miles from the Master Development.

The Master Development is intended to continue the success of other nearby communities in the northeastern portion of the County, including Citrus Pointe, Citrus Isle, Grace Ranch, Hammock Reserve, Forest Lake, Highland Meadows, Lucerne Park, Villa Mar, Orchid Grove, Orchid Terrace and North Ridge Estates. Together, these communities have achieved annual net sales of approximately 1,209 homes in 2020, 1,131 homes in 2021, and [   ] homes in 2022, with [  ] homes sold through [	], 2023.

Land development associated with the portion of the Master Development within the District is occurring in phases, and two assessment areas have been created to facilitate the District's development and financing plans. The Series 2022 Assessment Area consists of approximately [172.6] acres of land, which are planned to contain 843 single-family homes at buildout. The Series 2023 Assessment Area consists of approximately [20.56] acres of land, which are planned to contain 99 single-family homes at buildout.

The District previously issued its Series 2022 Bonds to finance a portion of the Series 2022 Project, which consists of the public infrastructure improvements associated with the development of the 744 lots planned for the Series 2022 Assessment Area. The Series 2022 Project is [complete]. See "‒Update on the Series 2022 Assessment Area" below for more information.

The Series 2023 Bonds are being issued to finance a portion of the Series 2023 Project, which consists of public infrastructure improvements associated with the development of the 99 lots planned for the Series 2023 Assessment Area. The Series 2023 Bonds will be secured by the Series 2023 Special Assessments, which will initially be levied on the [20.56] gross acres within the Series 2023 Assessment Area. As lots are platted therein, the Series 2023 Special Assessments will be assigned to the 99 lots planned for the Series 2023 Assessment Area on a first platted, first assigned basis, as set forth in the Assessment Methodology. See "ASSESSMENT METHODOLOGY AND THE ALLOCATION OF ASSESSMENTS"
herein.

The land in the District is owned by [ST DEV Partners, LLC]], a Florida limited liability company (the "Landowner"). The Landowner will install onsite and offsite infrastructure improvements and sell developed lots to Stanley Martin Homes (as defined herein, the "Builder"), which will construct and market homes for sale to end users. See "THE LANDOWNER" and "‒The Builder Contract" herein for more information.

Homes in the Series 2023 Assessment Area are expected to range in size from [1,500 square feet to 2,450] square feet with prices expected to start at [$330,000]. See "– Residential Product Offerings" herein.

Update on the Series 2022 Assessment Area

The District previously issued its Series 2022 Bonds to finance a portion of the Series 2022 Project, which consists of the public infrastructure improvements associated with the development of the 744 lots planned for the Series 2022 Assessment Area. The Series 2022 Project is [complete], and [all 744 lots have been developed and platted]. As of [	], 2023, approximately [ ] lots have closed with homebuilders, [  ] homes have closed with end users, and an additional [  ] homes have sold pending
closing. Homebuilders within the Series 2022 Assessment Area include Richmond American, Taylor Morrison, Starlight Homes, Century and Homes by WestBay.

Land Acquisition and Development Finance Plan

The land within the Series 2023 Assessment Area was acquired in August 2022 for a purchase price of approximately $925,200. [There are currently no mortgages on the District Lands.]

The Landowner estimates the total cost to develop the 99 lots planned for the Series 2023 Assessment Area to be approximately $[4.1] million, [based on bids received, which includes payments by the Landowner to the Town of approximately $   million of water and wastewater proportionate share costs pursuant to development agreements]. The Landowner's proportionate share payments are impact fee creditable in their entirety. See "‒Development Approvals" herein for more information regarding the Landowner's development agreements.

As of [	], 2023, the Landowner has incurred approximately $[	] in soft costs and proportionate share payments to the Town. Net proceeds of the Series 2023 Bonds will fund costs of the Series 2023 Project in the approximate amount of $2.0 million.* The Landowner will enter into a completion agreement whereby it will agree to complete any portions of the Series 2023 Project not funded by proceeds of the Series 2023 Bonds. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete Development" herein.

Development Plan and Status

Land development associated with the Series 2023 Assessment Area will commence in [August 2023] and is expected to be completed by [	], at which point lots will be delivered to the Builder, and the Builder will subsequently commence marketing and vertical construction of homes.

The Landowner anticipates that the Builder will commence closings with homebuyers in [	]. Based on sales at nearby communities, the Landowner expects that homes will be closed with residential end users at the rate of approximately [24-32] homes per month until buildout. These anticipated absorption rates are based upon estimates and assumptions made by the Landowner that are inherently uncertain, though considered reasonable by the Landowner, and are subject to significant business, economic, and competitive uncertainties and contingencies, all of which are difficult to predict and many of which are beyond the control of the Landowner. As a result, there can be no assurance such absorption rates will occur or be realized in the timeframes anticipated.

The Builder Contract

The Landowner has entered into a contract with Stanley Martin Homes (the "Builder") for all 99 lots planned within the Series 2023 Assessment Area (the "Builder Contract"). The total projected consideration from the Builder Contract for all 99 lots, including additional compensation paid upon Builder closings with end users, is expected to be approximately [$5,900,660], as further described below.

[Terms to come]

* Preliminary, subject to change.
Neither the Builder nor any of the other entities listed above are guaranteeing payment of the Series 2023 Bonds or the Series 2023 Special Assessments. None of the entities listed herein, other than the Landowner, has entered into any agreements in connection with the issuance of the Series 2023 Bonds.

Residential Product Offerings

The following table reflects the Landowner's current expectations for the homes to be constructed in the Development, all of which are subject to change:

Product
Est. Home Sizes (sf)
Bedrooms / Bathrooms
Expected Starting Home Price

Single-Family	[1,500 – 2,450]	3/2 – 5/3	[$330,000]

Development Approvals

[FOR REVIEW/UPDATING:] The District Lands are zoned as "Planned Unit Development" (PUD) by the Town, which allows for the development of up to    single-family residential units. The Landowner has entered into a Developer's Agreement dated December 27, 2021, with the Town for the provision of water and wastewater services by the Town to the Development (the "Service Agreement"). Pursuant to the Utility Service Agreement, the Landowner has agreed to pay the cost of constructing the first phase of the Town's wastewater treatment and disposal facilities (the "Wastewater Facilities"), through the payment of [four] equal installments of [$375,000] payable as follows: (i) upon execution of the Utility Service Agreement, (ii) upon completion of the design of the Wastewater Facilities, (iii) upon completion of permitting of the Wastewater Facilities and (iv) upon completion of construction of the Wastewater Facilities. In addition, upon completion of the Wastewater Facilities, the Landowner shall pay a "true up" payment in the amount by which the actual cost of constructing the Wastewater Facilities exceeded the sums previously paid by the Landowner. In return for such payment, the Town agrees in the Utility Service Agreement to provide the Development with wastewater service from the Wastewater Facilities and water service from its existing water facilities. In addition, the Landowner is entitled to (i) 500 wastewater capacity credits plus (ii) an additional amount of credits equal to the total "true up" cost divided by the then current wastewater capital charge (collectively, the "Wastewater Credits"). The Utility Service Agreement permits the Landowner to collect and retain from homebuilders wastewater capital charges up to the amount of the Wastewater Credits. As of   , 2023, the Landowner has paid $	 to the Town under the Utility Service Agreement. The Wastewater Facilities are expected to be substantially completed and accepting flows in 	 2023. In addition, the Utility Service Agreement requires the Landowner to pay the cost of constructing distribution and transmission lines to serve the Development. The foregoing costs are not part of the Series 2023 Project and will be paid by the Landowner.

The Landowner has also entered into a Developer's Agreement dated February 15, 2022, with the Town (the "Water Service Agreement"), whereby the Town has agreed to reserve water capacity for [744] single-family units within the Development in return for payment of impact fees in the amount of [$1,725,551.76] (the "Water Impact Fees"). The Water Service Agreement provides for the payment of the Water Impact Fees in installments, as follows: (i) [$345,574] upon execution of the Water Service Agreement, (ii) [$691,148] before the end of Month 8 following such execution, (iii) [$517,202] before the end of Month 15 following such execution and (iv) [$171,627] before the end of Month 22 following such execution. In return for such payment, the Water Service Agreement entitles to the Landowner to [744] ERUs of reserved water capacity, and authorizes the Landowner to collect and retain water capital charges applicable to such credits. As of 	, 2023, the Landowner has paid $	 to the Town under the Water Service Agreement. The foregoing costs are not part of the Series 2023 Project and will be paid by the Landowner.
The District Engineer has certified that all permits and approvals for the Development by jurisdictional agencies to allow for the development contemplated herein have been received or are expected to be received in the ordinary course. See "BONDOWNERS' RISKS – Regulatory and Environmental Risks" herein and "APPENDIX A: ENGINEER'S REPORT" hereto.

Environmental

A Phase I Environmental Site Assessment was performed on the land within the Series 2023 Assessment Area in December 2021 (the "ESA").The ESA noted that the subject lands had historically been used as a citrus grove, which use is a recognized environmental condition; however, based on the assumption that all chemicals associated with grove maintenance were applied in accordance with state and federal regulations, no recommendations for soil or groundwater were made. The Landowner expects that any soil contamination that may have resulted from such agricultural use will be remediated during the development process. In addition, the ESAs noted that investigations in surrounding areas indicated the presence of ethylene dibromide ("EDB") in the groundwater and recommended that public water supply be used for drinking water. Potable water for the District will be provided by the Town, and the homeowners' association documents will prohibit the installation of on-site wells. Finally, the ESAs further noted the presence of a groundwater well and recommended the capping and closure prior to development. See "BONDOWNERS' RISKS – Regulatory and Environmental Risks" herein or more information.

Utilities

The Town of Lake Hamilton will provide water and sewer service to the Development. [See "‒ Development Approvals" herein for more information regarding the development agreements entered into between the Town and the Landowner with respect to the provision of such services.] Duke Energy will provide electrical service to the Development. See "APPENDIX A: ENGINEER'S REPORT" attached hereto for more information regarding the ownership and maintenance of utilities within the Development.

Taxes, Fees and Assessments

The Series 2023 Bonds are payable from and secured by a pledge of the Series 2023 Pledged Revenues, which consist primarily of revenues received by the District from the Series 2023 Special Assessments levied on the assessed lands within the Series 2023 Assessment Area. The Series 2023 Assessment Area consists of approximately [20.56] gross acres and is planned for 99 single-family homes. The District will initially impose the Series 2023 Special Assessments across all of the gross acres within the Series 2023 Assessment Area on an equal per acre basis. As parcels are platted within the Series 2023 Assessment Area, the debt will be transferred from gross acres to platted lots in accordance with the Assessment Methodology. See "APPENDIX D: ASSESSMENT METHODOLOGY" for more information.

Upon platting of the Series 2023 Assessment Area, the estimated Series 2023 Special Assessments levied and allocated to platted units to pay debt service on the Series 2023 Bonds and the estimated Series 2023 Bond par per unit are expected to be as follows:

Product Type	No. of Units
Annual Series 2023 Special Assessments Per Unit*
Series 2023 Bonds Par Debt Per Unit*

Single-Family	99	$1,750	$24,747

*	Preliminary, subject to change. Annual assessment collected via the Uniform Method will include a gross up to account for County collection costs/payment discounts, which may fluctuate.

The District anticipates levying assessments to cover its operation and maintenance costs, which are expected to be approximately $956 per single-family unit annually, but such amount is subject to change. In addition, residents will be required to pay homeowners' association fees which are currently estimated to be [$200] per residential lot annually, which amounts are subject to change. The land within the District has been and will continue to be subject to taxes and assessments imposed by taxing authorities other than the District. The total millage rate applicable to lands within the Series 2023 Assessment Area in 2022 (prior to such lands being annexed into the Town) was approximately 13.2836 mills. The total millage rate applicable to other lands in the Development, which were located within the incorporated municipal boundaries of the Town, was 20.8646 in 2022. These taxes would be payable in addition to the Series 2023 Special Assessments and any other assessments levied by the District. In addition, exclusive of voter approved millages levied for general obligation bonds, as to which no limit applies, the Town, the County and the School Board of Polk County each levy ad valorem taxes upon the land in the District. The District has no control over the level of ad valorem taxes and/or special assessments levied by other taxing authorities. It is possible that in future years taxes levied by these other entities could be substantially higher than in 2021.

Amenities

The Development will contain a recreation area consisting of an approximately 4,000 square-foot pool, an approximately 1500 square-foot clubhouse, pavilion with restrooms, parking area, playground, tot lots and dog park (collectively, the "Amenities"). Construction of the Amenities [commenced] in the [first] quarter of 2023 and is expected to be completed in the [first] quarter of 2024, at a cost of approximately
$1.9 million, which is included in the Capital Improvement Plan [and may be funded from net proceeds of the Series 2022 Bonds and the Series 2023 Bonds]. The Amenities will be owned and operated by the District upon completion.

Education

School age residents of the Development will attend Sandhill Elementary School, Shelley S. Boone Middle School and Haines City High School, each of which is located approximately 4 miles from the Development. The Elementary School and Middle School were each rated by the State as C in 2022. The Polk County School Board may change school boundaries from time to time, and there is no requirement that students residing in the Development be permitted to attend the schools which are closest to the Development.

Competition

The Development is expected to compete with projects in the northeast Polk County market generally, which include [Citrus Isle, Citrus Landing, Citrus Pointe, Citrus Reserve, Forest Lake, Orchid Grove, Orchid Terrace and North Ridge Estates. The Development is also expected to compete with communities in the northern City of Winter Haven area, including Watercrest, Lake Lucerne, Berkley Ridge, Lakeside Landings, Country Walk, Cascara, and Lake Mattie]. The foregoing does not purport to summarize all of the existing or planned communities in the area of the Development.
Landowner Agreements

The Landowner will enter into a completion agreement that will obligate the Landowner to complete any portions of the Series 2023 Project not funded with proceeds of the Series 2023 Bonds. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete Development" herein.

In addition, the Landowner will execute and deliver to the District a Collateral Assignment and Assumption of Development Rights (the "Collateral Assignment"), pursuant to which the Landowner will collaterally assign to the District, to the extent assignable and to the extent that they are solely owned or controlled by the Landowner, development rights relating to the Series 2023 Project. Notwithstanding such Collateral Assignment, in the event the District forecloses on the lands subject to the Series 2023 Special Assessments as a result of the Landowner's or subsequent Landowners' failure to pay such assessments, there is a risk that the District will not have all permits and entitlements necessary to complete the Series 2023 Project or the development of the Series 2023 Assessment Area.

Finally, the Landowner will also enter into a True-Up Agreement in connection with its obligation to pay true-up payments in the event that debt levels remaining on unplatted lands in the Series 2023 Assessment Area increase above the maximum debt levels set forth in the Assessment Methodology. See "APPENDIX D: ASSESSMENT METHODOLOGY" herein for additional information regarding the "true- up mechanism."

Such obligations of the Landowner are unsecured obligations. See "BONDOWNERS' RISKS – Insufficient Resources or Other Factors Causing Failure to Complete Development" and "THE LANDOWNER" herein for more information regarding the Landowner.

THE LANDOWNER

The Landowner

All of the lands in the Development are owned by [ST DEV PARTNERS, LLC], a Florida limited liability company (the "Landowner"). The Landowner was formed on May 18, 2022 and is owned by a limited number of investors. The Landowner's sole manager is Albert S. Cassidy, whose biography is set forth below.

Albert S. Cassidy has had experience in real estate development for over ten years. He is currently the manager of ten other active development entities in Central Florida. Mr. Cassidy is also an owner of Oakley Rhinehart Cassidy, which owns and leases single and multi-family family homes, as well as an owner of PRIME Community Management, where he holds a Community Association Managers (CAM) license with the State of Florida.

Development Manager

The Landowner has entered into a management agreement with [Heath Construction and Management, LLC], a Florida limited liability company ("Heath Construction"), to oversee development of the Development. Heath Construction was formed on November 2, 2006, and is engaged in the business of providing commercial and residential land acquisition and development planning, budgeting, due diligence services, construction management and government liaison services. Warren K. Heath is the managing member of Heath Construction, which he started after spending five years as the Director of Development for Highland Sumner and Cassidy Homes. Mr. Heath has overseen the development for over 65 properties consisting of over 5,000 acres across Central Florida.
[Remainder of page intentionally left blank.]
The chart below contains a list of the communities developed by the Development Manager and its affiliates:

Project Name	CDD Name	Year Started	# of Lots	
Ayersworth Glen	Highlands	2014	158	
Highland Meadows 2A & 2B	Highland Meadows II	2014	310	
Ballantrae	Ballantrae	2014	197	
Chatham Walk	Wynnmere West	2014	137	
Ballantrae	Ballantrae	2015	200	
Chatham Walk	Wynnmere West	2015	186	
Ayersworth Glen 2B	Highlands	2016	227	
Highland Meadows 3 & 4A	Highland Meadows II	2016	333	
Hawks Landing	Wynnmere East	2016	316	
Highland Meadows 5 & 6	Highland Meadows II	2017	409	
North Ridge Estates	North Blvd	2017	216	
Highland Meadows 4B&C	Highland Meadows II	2017	199	
Citrus Isle	Holly Hill Road East	2017	204	
Orchid Grove	Davenport Road South	2018	369	
Citye Park	Citye Park	2018	563	
Citrus Pointe	Holly Hill Road East	2018	100	
North Ridge Reserve	North Blvd	2019	173	
Orchid Terrace 1 & 2	Highland Meadows West	2019	266	
Lucerne Park	Lucerne Park	2019	346	
VillaMar 1 & 2	Villamar	2019	334	
Riverstone 1	Citye Park	2019	277	
Riverstone 2	Citye Park	2019	186	
Highland Meadows 7	Highland Meadows II	2019	210	
Southern Crossing	N/A	2019	93	
Grace Ranch	N/A	2019	100	
Highland Place	N/A	2019	42	
Pleasant Hill	N/A	2019	52	
Orchid Terrace 3 & 4	Highland Meadows West	2020	176	
Citrus Landing	Holly Hill Road East	2020	182	
Citrus Reserve	Holly Hill Road East	2020	191	
Hammock Reserve 1	Hammock Reserve	2020	231	
Forest Lake	Forest Lake	2020	388	
Eden Hills 1	Eden Hills	2020	142	
VillaMar 2	VillaMar	2020	281	
Bella Vita	North Powerline Road	2020	567	
Magnolia Park	Scenic Highway	2020	361	
Hammock Reserve 2	Hammock Reserve	2021	206	
Brentwood / Cascades	Westside Haines City	2021	897	
Eden Hills 2	Eden Hills	2022	470	
Hammock Reserve 3	Hammock Reserve	2022	382	
Hammock Reserve 4	Hammock Reserve	2022	209	
Project Name	CDD Name	Year Started	# of Lots	
Scenic Terrace South	Scenic Terrace South	2022	744	
Lawson Dunes	Lawson Dunes	2022	386	
VillaMar Phase 5	VillaMar	2022	200	
Forest Lake Phase 3	Forest Lake	2022	185	
Lake Deer	Lake Deer	2022	577	
Bradbury Creek	Bradbury	2023		811		
	Total		13,798	

Neither the Landowner nor any of the other entities listed above are guaranteeing payment of the Series 2023 Bonds or the Series 2023 Special Assessments. None of the entities listed herein, other than the Landowner, has entered into any agreements in connection with the issuance of the Series 2023 Bonds.

[Remainder of page intentionally left blank.]
TAX MATTERS

General

The Internal Revenue Code of 1986, as amended (the "Code"), includes requirements that the District must continue to meet after the issuance of the Series 2023 Bonds in order that the interest on the Series 2023 Bonds be and remain excludable from gross income for federal income tax purposes. The District's failure to meet these requirements may cause the interest on the Series 2023 Bonds to be included in gross income for federal income tax purposes retroactively to the date of issuance of the Series 2023 Bonds. The District has covenanted in the Bond Resolution to take the actions required by the Code in order to maintain the exclusion from gross income for federal income tax purposes of interest on the Series 2023 Bonds.

In the opinion of Greenberg Traurig, P.A., Bond Counsel, assuming the accuracy of certain representations and certifications and continuing compliance by the District with the tax covenants referred to above, under existing statutes, regulations, rulings, and court decisions, the interest on the Series 2023 Bonds is excludable from gross income of the holders thereof for federal income tax purposes; and, further, interest on the Series 2023 Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals. In the case of the alternative minimum tax imposed by Section 55(b)(2) of the Code on applicable corporations (as defined in Section 59(k) of the Code), interest on the Series 2023 Bonds is not excluded from the determination of adjusted financial statement income. Bond Counsel is further of the opinion that the Series 2023 Bonds and the interest thereon are not subject to taxation under the laws of the State, except as to estate taxes and taxes under Chapter 220, Florida Statutes, on interest, income, or profits on debt obligations owned by corporations as defined in said Chapter 220. Bond Counsel will express no opinion as to any other tax consequences regarding the Series 2023 Bonds. Prospective purchasers of the Series 2023 Bonds should consult their own tax advisors as to the status of interest on the Series 2023 Bonds under the tax laws of any state other than the State.

The above opinion on federal tax matters with respect to the Series 2023 Bonds will be based on and will assume the accuracy of certain representations and certifications of the District [and the Landowner], and compliance with certain covenants of the District to be contained in the transcript of proceedings and that are intended to evidence and assure the foregoing, including that the Series 2023 Bonds will be and will remain obligations the interest on which is excludable from gross income for federal income tax purposes. Bond Counsel will not independently verify the accuracy of those certifications and representations. Bond Counsel will express no opinion as to any other consequences regarding the Series 2023 Bonds.

Except as described above, Bond Counsel will express no opinion regarding the federal income tax consequences resulting from the receipt or accrual of the interest on the Series 2023 Bonds, or the ownership or disposition of the Series 2023 Bonds. Prospective purchasers of Series 2023 Bonds should be aware that the ownership of Series 2023 Bonds may result in other collateral federal tax consequences, including (i) the denial of a deduction for interest on indebtedness incurred or continued to purchase or carry the Series 2023 Bonds, (ii) the reduction of the loss reserve deduction for property and casualty insurance companies by the applicable statutory percentage of certain items, including the interest on the Series 2023 Bonds, (iii) the inclusion of the interest on the Series 2023 Bonds in the earnings of certain foreign corporations doing business in the United States for purposes of a branch profits tax, (iv) the inclusion of the interest on the Series 2023 Bonds in the passive income subject to federal income taxation of certain Subchapter S corporations with Subchapter C earnings and profits at the close of the taxable year, (v) the inclusion of interest on the Series 2023 Bonds in the determination of the taxability of certain Social Security and Railroad Retirement benefits to certain recipients of such benefits, (vi) net gain realized upon the sale or other disposition of property such as the Series 2023 Bonds generally must be taken into account when
computing the Medicare tax with respect to net investment income or undistributed net investment income, as applicable, imposed on certain high income individuals and specified trusts and estates and (vii) receipt of certain investment income, including interest on the Series 2023 Bonds, is considered when determining qualification limits for obtaining the earned income credit provided by Section 32(a) of the Code. The nature and extent of the other tax consequences described above will depend on the particular tax status and situation of each owner of the Series 2023 Bonds. Prospective purchasers of the Series 2023 Bonds should consult their own tax advisors as to the impact of these and any other tax consequences.

Bond Counsel's opinion is based on existing law, which is subject to change. Such opinion is further based on factual representations made to Bond Counsel as of the date of issuance of the Series 2023 Bonds. Bond Counsel assumes no duty to update or supplement its opinion to reflect any facts or circumstances that may thereafter come to Bond Counsel's attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, Bond Counsel's opinion is not a guarantee of a particular result, and is not binding on the IRS or the courts; rather, such opinion represents Bond Counsel's professional judgment based on its review of existing law, and in reliance on the representations and covenants that it deems relevant to such opinion.

Original Issue Discount and Premium

Certain of the Series 2023 Bonds ("Discount Bonds") may be offered and sold to the public at an original issue discount ("OID"). OID is the excess of the stated redemption price at maturity (the principal amount) over the "issue price" of a Discount Bond determined under Code Section 1273 or 1274 (i.e., for obligations issued for money in a public offering, the initial offering price to the public (other than to bond houses and brokers) at which a substantial amount of the obligation of the same maturity is sold pursuant to that offering). For federal income tax purposes, OID accrues to the owner of a Discount Bond over the period to maturity based on the constant yield method, compounded semiannually (or over a shorter permitted compounding interval selected by the owner). The portion of OID that accrues during the period of ownership of a Discount Bond (i) is interest excludable from the owner's gross income for federal income tax purposes to the same extent, and subject to the same considerations discussed above, as other interest on the Series 2023 Bonds, and (ii) is added to the owner's tax basis for purposes of determining gain or loss on the maturity, redemption, prior sale, or other disposition of that Discount Bond.

Certain of the Series 2023 Bonds ("Premium Bonds") may be offered and sold to the public at a price in excess of their stated redemption price (the principal amount) at maturity (or earlier for certain Premium Bonds callable prior to maturity). That excess constitutes bond premium. For federal income tax purposes, bond premium is amortized over the period to maturity of a Premium Bond, based on the yield to maturity of that Premium Bond (or, in the case of a Premium Bond callable prior to its stated maturity, the amortization period and yield may be required to be determined on the basis of an earlier call date that results in the lowest yield on that Premium Bond), compounded semiannually (or over a shorter permitted compounding interval selected by the owner). No portion of that bond premium is deductible by the owner of a Premium Bond. For purposes of determining the owner's gain or loss on the sale, redemption (including redemption at maturity), or other disposition of a Premium Bond, the owner's tax basis in the Premium Bond is reduced by the amount of bond premium that accrues during the period of ownership. As a result, an owner may realize taxable gain for federal income tax purposes from the sale or other disposition of a Premium Bond for an amount equal to or less than the amount paid by the owner for that Premium Bond.

Owners of Discount and Premium Bonds should consult their own tax advisers as to the determination for federal income tax purposes of the amount of OID or bond premium properly accruable in any period with respect to the Discount or Premium Bonds and as to other federal tax consequences, and the treatment of OID and bond premium for purposes of state and local taxes on, or based on, income.
Changes in Federal and State Tax Law

From time to time, there are legislative proposals suggested, debated, introduced, or pending in Congress or in the State legislature that, if enacted into law, could alter or amend one or more of the federal tax matters, or state tax matters, respectively, described above including, without limitation, the excludability from gross income of interest on the Series 2023 Bonds, or adversely affect the market price or marketability of the Series 2023 Bonds, or otherwise prevent the holders from realizing the full current benefit of the status of the interest thereon. It cannot be predicted whether or in what form any such proposal may be enacted, or whether, if enacted, any such proposal would affect the Series 2023 Bonds. Prospective purchasers of the Series 2023 Bonds should consult their tax advisors as to the impact of any proposed or pending legislation.

On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (H.R. 5376) into law. For tax years beginning after 2022, this legislation will impose a minimum tax of 15 percent on the adjusted financial statement income of applicable corporations as defined in Section 59(k) of the Code (which is primarily designed to impose a minimum tax on certain large corporations). For this purpose, adjusted financial statement income is not reduced for interest earned on tax-exempt obligations. Prospective purchasers that could be subject to this minimum tax should consult with their own tax advisors regarding the potential consequences of owning the Series 2023 Bonds.

Information Reporting and Backup Withholding

Interest paid on tax-exempt bonds such as the Series 2023 Bonds is subject to information reporting to the Internal Revenue Service in a manner similar to interest paid on taxable obligations. This reporting requirement does not affect the excludability of interest on the Series 2023 Bonds from gross income for federal income tax purposes. However, in conjunction with that information reporting requirement, the Code subjects certain non-corporate owners of Series 2023 Bonds, under certain circumstances, to "backup withholding" at the rates set forth in the Code, with respect to payments on the Series 2023 Bonds and proceeds from the sale of Series 2023 Bonds. Any amount so withheld would be refunded or allowed as a credit against the federal income tax of such owner of Series 2023 Bonds. This withholding generally applies if the owner of Series 2023 Bonds (i) fails to furnish the payor such owner's social security number or other taxpayer identification number ("TIN"), (ii) furnished the payor an incorrect TIN, (iii) fails to properly report interest, dividends, or other "reportable payments" as defined in the Code, or (iv) under certain circumstances, fails to provide the payor or such owner's securities broker with a certified statement, signed under penalty of perjury, that the TIN provided is correct and that such owner is not subject to backup withholding. Prospective purchasers of the Series 2023 Bonds may also wish to consult with their tax advisors with respect to the need to furnish certain taxpayer information in order to avoid backup withholding.

AGREEMENT BY THE STATE

Under the Act, the State pledges to the holders of any bonds issued thereunder, including the Series 2023 Bonds, that it will not limit or alter the rights of the issuer of such bonds, including the District, to own, acquire, construct, reconstruct, improve, maintain, operate or furnish the projects, including the Series 2023 Project funded by the Series 2023 Bonds, or to levy and collect taxes, assessments, rentals, rates, fees and other charges provided for in the Act and to fulfill the terms of any agreement made with the holders of such bonds and that it will not in any way impair the rights or remedies of such holders.
LEGALITY FOR INVESTMENT

The Act provides that bonds issued by community development districts are legal investments for savings banks, banks, trust companies, insurance companies, executors, administrators, trustees, guardians, and other fiduciaries, and for any board, body, agency, instrumentality, county, municipality or other political subdivision of the State, and constitute securities that may be deposited by banks or trust companies as security for deposits of state, county, municipal or other public funds, or by insurance companies as required or voluntary statutory deposits.

SUITABILITY FOR INVESTMENT

In accordance with applicable provisions of Florida law, the Series 2023 Bonds may initially be sold by the District only to "accredited investors" within the meaning of Chapter 517, Florida Statutes, and the rules of the Florida Department of Financial Services promulgated thereunder. The limitation of the initial offering to accredited investors does not denote restrictions on transfers in any secondary market for the Series 2023 Bonds. Investment in the Series 2023 Bonds poses certain economic risks. No dealer, broker, salesman or other person has been authorized by the District or the Underwriter to give any information or make any representations, other than those contained in this Limited Offering Memorandum, and, if given or made, such other information or representations must not be relied upon as having been authorized by either of the foregoing.

ENFORCEABILITY OF REMEDIES

The remedies available to the owners of the Series 2023 Bonds upon an event of default under the Indenture are in many respects dependent upon judicial actions, which are often subject to discretion and delay. Under existing constitutional and statutory law and judicial decisions, including the federal bankruptcy code, the remedies specified by the Indenture and the Series 2023 Bonds may not be readily available or may be limited. The various legal opinions to be delivered concurrently with the delivery of the Series 2023 Bonds will be qualified, as to the enforceability of the remedies provided in the various legal instruments, by limitations imposed by bankruptcy, reorganization, insolvency or other similar laws affecting the rights of creditors and enacted before or after such delivery.

FINANCIAL STATEMENTS

This District will covenant in a Continuing Disclosure Agreement, the proposed form of which is set forth in APPENDIX E hereto, to provide its annual audited financial statements to certain information repositories as described in APPENDIX E, commencing with the audit for the District fiscal year ending September 30, 2023. Attached hereto as APPENDIX F is a copy of the District's audited financial statements for the District's fiscal year ended September 30, 2022, as well as the District's unaudited monthly financial statements for the period ended [May 31], 2023. Such financial statements, including the auditor's report included within the audited financial statements, have been included in this Limited Offering Memorandum as public documents and consent from the auditor was not requested. Further, the auditors have not performed any services related to, and therefore are not associated with, the preparation of this Limited Offering Memorandum. As of the date hereof, the District does not have any significant assets or liabilities and the District has not previously issued any debt obligations. The Series 2023 Bonds are not general obligation bonds of the District and are payable solely from the Series 2023 Pledged Revenues.

Beginning October 1, 2015, or by the end of the first full fiscal year after its creation, each community development district in Florida must have a separate website with certain information as set forth in Section 189.069, F.S., including, without limitation, the district's proposed and final budgets and
audit. Additional information regarding the District's website is available from the District Manager at the address set forth under "THE DISTRICT – The District Manager and Other Consultants."

LITIGATION

The District

There is no litigation of any nature now pending or, to the knowledge of the District threatened, seeking to restrain or enjoin the issuance, sale, execution or delivery of the Series 2023 Bonds, or in any way contesting or affecting (i) the validity of the Series 2023 Bonds or any proceedings of the District taken with respect to the issuance or sale thereof, (ii) the pledge or application of any moneys or security provided for the payment of the Series 2023 Bonds, (iii) the existence or powers of the District or (iv) the validity of the Assessment Proceedings.

The Landowner

The Landowner has represented in connection with the Series 2023 Bond issuance that there is no litigation of any nature now pending or, to the knowledge of the Landowner, threatened, which could reasonably be expected to have a material and adverse effect upon the ability of the Landowner to complete the development of the District Lands as described herein, materially and adversely affect the ability of the Landowner to pay the Series 2023 Special Assessments imposed against the District Lands or materially and adversely affect the ability of the Landowner to perform its obligations described in this Limited Offering Memorandum.

NO RATING

No application for a rating of the Series 2023 Bonds has been made to any rating agency, nor is there any reason to believe that the District would have been successful in obtaining an investment grade rating for the Series 2023 Bonds had application been made.

DISCLOSURE REQUIRED BY FLORIDA BLUE SKY REGULATIONS

Section 517.051, Florida Statutes, and the regulations promulgated thereunder requires that the District make a full and fair disclosure of any bonds or other debt obligations that it has issued or guaranteed and that are or have been in default as to principal or interest at any time after December 31, 1975 (including bonds or other debt obligations for which it has served only as a conduit issuer such as industrial development or private activity bonds issued on behalf of private business). The District is not and has never been in default on any bonds or other debt obligations since December 31, 1975.

CONTINUING DISCLOSURE

The District and the Landowner will enter into the Continuing Disclosure Agreement (the "Disclosure Agreement") in the proposed form of APPENDIX E, for the benefit of the Series 2023 Bondholders (including owners of beneficial interests in such Series 2023 Bonds), to provide certain financial information and operating data relating to the District and the Development by certain dates prescribed in the Disclosure Agreement (the "Reports") with the MSRB through the MSRB's EMMA system. The specific nature of the information to be contained in the Reports is set forth in "APPENDIX E: PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT." Under certain circumstances, the failure of the District or the Landowner to comply with their respective obligations under the Disclosure Agreement constitutes an event of default thereunder. Such a default will not constitute an event of default under the Indenture, but such event of default under the Disclosure Agreement would allow the Series 2023
Bondholders (including owners of beneficial interests in such Series 2023 Bonds) to bring an action for specific performance.

The District has previously entered into a continuing disclosure undertaking pursuant to Rule 15c2- 12, promulgated under the Securities Exchange Act of 1934, as amended (the "Rule"), with respect to it’s the Series 2022 Bonds. A review of filings made pursuant to such prior undertaking indicates that the District has not materially failed to comply with its requirements thereunder within the last five years. The District will appoint Governmental Management Services – Central Florida, LLC, as the dissemination agent in the Disclosure Agreement and anticipates satisfying all future disclosure obligations required pursuant to its continuing disclosure undertakings and the Rule.

[The Landowner has not previously entered into any continuing disclosure obligations pursuant to the Rule. The Landowner anticipates satisfying all disclosure obligations required pursuant to the Disclosure Agreement and the Rule.]

UNDERWRITING

FMSbonds, Inc. (the "Underwriter"), has agreed, pursuant to a contract with the District, subject to certain conditions, to purchase the Series 2023 Bonds from the District at a purchase price of
$	 (par amount of the Series 2023 Bonds, [plus/less an original issue premium/discount of
$	 and] less an Underwriter's discount of $	). The Underwriter's obligations are subject to certain conditions precedent and the Underwriter will be obligated to purchase all of the Series 2023 Bonds if any Series 2023 Bonds are purchased.

The Series 2023 Bonds may be offered and sold to certain dealers, banks and others at prices lower than the initial offering prices, and such initial offering prices may be changed from time to time by the Underwriter.

CONTINGENT FEES

The District has retained Bond Counsel, District Counsel, the Consulting Engineer, the District Manager/Methodology Consultant, the Underwriter (who has retained Underwriter's Counsel) and the Trustee (which has retained Trustee's counsel), with respect to the authorization, sale, execution and delivery of the Series 2023 Bonds. Except for the payment of certain fees to District Counsel, the Consulting Engineer and the District Manager, the payment of fees of the other professionals is each contingent upon the issuance of the Series 2023 Bonds.

EXPERTS

Dewberry Engineers Inc., as District Engineer, has prepared the Engineer's Report included herein as APPENDIX A, which report should be read in its entirety. Governmental Management Services – Central Florida, LLC, as the Methodology Consultant, has prepared the Assessment Methodology included herein as APPENDIX D, which report should be read in its entirety. As a condition to closing on the Series 2023 Bonds, both the District Engineer and the Methodology Consultant will consent to the inclusion of their reports in this Limited Offering Memorandum.

VALIDATION

Bonds issued pursuant to the terms of the Master Indenture have been validated by a judgment of the Circuit Court of the Tenth Judicial Circuit Court of Florida in and for Polk County, Florida, rendered
on January 4, 2022. The period of time in which an appeal of the judgment may be filed has expired with no appeals having being taken.

LEGAL MATTERS

Certain legal matters related to the authorization, sale and delivery of the Series 2023 Bonds are subject to the approval of Greenberg Traurig, P.A., Miami, Florida, Bond Counsel. Certain legal matters will be passed upon for the Underwriter by its counsel, GrayRobinson, P.A. Tampa, Florida. Certain legal matters will be passed upon for the District by its counsel, Kilinski | Van Wyk PLLC, Tallahassee, Florida. Certain legal matters will be passed upon for the Landowner by its counsel, Straughn & Turner, P.A., Winter Haven, Florida.

The form of opinion of Bond Counsel attached hereto as APPENDIX C is based on existing law, which is subject to change, and is further based on factual representations made to Bond Counsel as of the date hereof. Bond Counsel assumes no duty to update or supplement its opinion to reflect any facts or circumstances that may thereafter come to Bond Counsel's attention, or to reflect any changes in law that may thereafter occur or become effective. Moreover, Bond Counsel's opinion is not a guarantee of a particular result and is not binding on the Internal Revenue Service or the courts; rather, such opinion represents Bond Counsel's professional judgment based on its review of existing law, and in reliance on the representations and covenants that it deems relevant to such opinion.

MISCELLANEOUS

Any statements made in this Limited Offering Memorandum involving matters of opinion or estimates, whether or not expressly so stated, are set forth as such and not as representations of fact, and no representations are made that any of the estimates will be realized.

The references herein to the Series 2023 Bonds and other documents referred to herein are brief summaries of certain provisions thereof. Such summaries do not purport to be complete and reference is made to such documents for full and complete statements of such provisions.

This Limited Offering Memorandum is submitted in connection with the limited offering of the Series 2023 Bonds and may not be reproduced or used, as a whole or in part, for any other purpose. This Limited Offering Memorandum is not to be construed as a contract with the purchaser or the Beneficial Owners of any of the Series 2023 Bonds.

[Remainder of page intentionally left blank.]
AUTHORIZATION AND APPROVAL

The execution and delivery of this Limited Offering Memorandum has been duly authorized by the Board of Supervisors of Scenic Terrace South Community Development District.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By:		 Chairperson, Board of Supervisors
APPENDIX A ENGINEER'S REPORT
APPENDIX B

COPY OF MASTER INDENTURE AND PROPOSED FORM OF SECOND SUPPLEMENTAL INDENTURE
APPENDIX C

PROPOSED FORM OF OPINION OF BOND COUNSEL
APPENDIX D ASSESSMENT METHODOLOGY
APPENDIX E

PROPOSED FORM OF CONTINUING DISCLOSURE AGREEMENT
APPENDIX F

DISTRICT'S FINANCIAL STATEMENTS
EXHIBIT D

FORM OF RULE 15c2-12 CERTIFICATE

Scenic Terrace South Community Development District
$	* Special Assessment Bonds, Series 2023
The undersigned hereby certifies and represents to FMSbonds, Inc. ("Underwriter") that he is the Chairperson of the Board of Supervisors of Scenic Terrace South Community Development District (the "District") is authorized to execute and deliver this Certificate, and further certifies on behalf of the District to the Underwriter as follows:
This Certificate is delivered to enable the Underwriter to comply with Rule 15c2-12 under the Securities Exchange Act of 1934 (the "Rule") in connection with the offering and sale of the above captioned bonds (the "Series 2022 Bonds").

In connection with the offering and sale of the Series 2023 Bonds, there has been prepared a Preliminary Limited Offering Memorandum, dated the date hereof, setting forth information concerning the Series 2023 Bonds and the District (the "Preliminary Limited Offering Memorandum").

As used herein, "Permitted Omissions" shall mean the offering price, interest rate, selling compensation, aggregate principal amount, principal amount per maturity, delivery dates, ratings, the identity of the Underwriter and other terms of the Series 2023 Bonds depending on such matters.

The undersigned hereby deems the Preliminary Limited Offering Memorandum "final" as of its date, within the meaning of the Rule, except for the Permitted Omissions, and the information therein is accurate and complete except for the Permitted Omissions.
If, at any time prior to the execution of a Bond Purchase Contract, any event occurs as a result of which the Preliminary Limited Offering Memorandum might include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, the District will promptly notify the Underwriter thereof.

IN WITNESS WHEREOF, the undersigned has hereunto set his hand this 	 day of
	, 2023.

SCENIC	TERRACE	SOUTH COMMUNITY DEVELOPMENT DISTRICT

Chairperson

* Preliminary, subject to change.

D-1
EXHIBIT E

FORM OF CONTINUING DISCLOSURE AGREEMENT

E-1

CONTINUING DISCLOSURE AGREEMENT

This Continuing Disclosure Agreement (this "Disclosure Agreement") dated as of [	], 2023 is executed and delivered by the Scenic Terrace South Community Development District (the "Issuer" or the "District"), ST DEV PARTNERS, LLC, a Florida limited liability company (the "Landowner"), and Governmental Management Services – Central Florida, LLC, a Florida limited liability company, as dissemination agent (the "Dissemination Agent") in connection with the Issuer's Special Assessment Bonds, Series 2023 (Series 2023 Project) (the "Bonds"). The Bonds are secured pursuant to a Master Trust Indenture dated as of April 1, 2022 (the "Master Indenture") and a Second Supplemental Trust Indenture dated as of [	] 1, 2023 (the "Second Supplemental Indenture" and, together with the Master Indenture, the "Indenture"), each entered into by and between the Issuer and U.S. Bank Trust Company, National Association, a national banking association duly organized and existing under the laws of the United States of America and having a designated corporate trust office in Fort Lauderdale, Florida, as trustee (the "Trustee"). The Issuer, the Landowner and the Dissemination Agent covenant and agree as follows:

Purpose of this Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the Issuer, the Landowner and the Dissemination Agent for the benefit of the Beneficial Owners (as defined herein) of the Bonds and to assist the Participating Underwriter (as defined herein) of the Bonds in complying with the Rule (as defined herein). The Issuer has no reason to believe that this Disclosure Agreement does not satisfy the requirements of the Rule and the execution and delivery of this Disclosure Agreement is intended to comply with the Rule. To the extent it is later determined by a court of competent jurisdiction, a governmental regulatory agency, or an attorney specializing in federal securities law, that the Rule requires the Issuer or other Obligated Person (as defined herein) to provide additional information, the Issuer and each Obligated Person agree to promptly provide such additional information.

The provisions of this Disclosure Agreement are supplemental and in addition to the provisions of the Indenture with respect to reports, filings and notifications provided for therein, and do not in any way relieve the Issuer, the Trustee or any other person of any covenant, agreement or obligation under the Indenture (or remove any of the benefits thereof) nor shall anything herein prohibit the Issuer, the Trustee or any other person from making any reports, filings or notifications required by the Indenture or any applicable law.

Definitions. Capitalized terms not otherwise defined in this Disclosure Agreement shall have the meaning assigned in the Rule or, to the extent not in conflict with the Rule, in the Indenture. The following capitalized terms as used in this Disclosure Agreement shall have the following meanings:

"Annual Filing Date" means the date set forth in Section 3(a) hereof by which the Annual Report is to be filed with each Repository.

"Annual Financial Information" means annual financial information as such term is used in paragraph (b)(5)(i)(A) of the Rule and specified in Section 4(a) of this Disclosure Agreement.
"Annual Report" shall mean any Annual Report provided by the Issuer pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement.

"Assessment Area" shall mean that portion of the District lands subject to the Assessments, as more particularly described in the Limited Offering Memorandum as the Series 2023 Assessment Area.
"Assessments" shall mean the non-ad valorem Series 2023 Special Assessments pledged to the payment of the Bonds pursuant to the Indenture.
"Audited Financial Statements" means the financial statements (if any) of the Issuer for the prior Fiscal Year, certified by an independent auditor as prepared in accordance with generally accepted accounting principles or otherwise, as such term is used in paragraph (b)(5)(i) of the Rule and specified in Section 4(a) of this Disclosure Agreement.
"Audited Financial Statements Filing Date" means the date set forth in Section 3(a) hereof by which the Audited Financial Statements are to be filed with each Repository if the same are not included as part of the Annual Report.

"Beneficial Owner" shall mean any person which, (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of, any Bonds (including persons holding Bonds through nominees, depositories or other intermediaries), or (b) is treated as the owner of any Bonds for federal income tax purposes.

"Bond Year" means the annual period beginning on the second day of November of each year and ending on the first day of November of the following year.

"Business Day" means any day other than (a) a Saturday, Sunday or a day on which banks located in the city in which the designated corporate trust office of the Trustee is located are required or authorized by law or executive order to close for business, and (b) a day on which the New York Stock Exchange is closed.

"Disclosure Representative" shall mean (i) as to the Issuer, the District Manager or its designee, or such other person as the Issuer shall designate in writing to the Dissemination Agent from time to time as the person responsible for providing information to the Dissemination Agent; and (ii) as to each entity comprising an Obligated Person (other than the Issuer), the individuals executing this Disclosure Agreement on behalf of such entity or such person(s) as such entity shall designate in writing to the Dissemination Agent from time to time as the person(s) responsible for providing information to the Dissemination Agent.

"Dissemination Agent" shall mean the Issuer or an entity appointed by the Issuer to act in the capacity as Dissemination Agent hereunder, or any successor Dissemination Agent designated in writing by the Issuer pursuant to Section 8 hereof. Governmental Management Services – Central Florida, LLC has been designated as the initial Dissemination Agent hereunder.
"District Manager" shall mean Governmental Management Services – Central Florida, LLC, and its successors and assigns.
"EMMA" means the Electronic Municipal Market Access system for municipal securities disclosures located at http://emma.msrb.org/.

"EMMA Compliant Format" shall mean a format for any document provided to the MSRB (as hereinafter defined) which is in an electronic format and is accompanied by identifying information, all as prescribed by the MSRB.
"Financial Obligation" means a (a) debt obligation, (b) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation, or (c) guarantee of an obligation or instrument described in either clause (a) or (b). Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

"Fiscal Year" shall mean the period commencing on October 1 and ending on September 30 of the next succeeding year, or such other period of time provided by applicable law.

"Limited Offering Memorandum" shall mean that Limited Offering Memorandum dated [	], 2023, prepared in connection with the issuance of the Bonds.

"Listed Events" shall mean any of the events listed in Section 6(a) of this Disclosure Agreement.

"MSRB" means the Municipal Securities Rulemaking Board.
"Obligated Person(s)" shall mean, with respect to the Bonds, those person(s) who either generally or through an enterprise fund or account of such persons are committed by contract or other arrangement to support payment of all or a part of the obligations on such Bonds (other than providers of municipal bond insurance, letters of credit, or other liquidity facilities), which person(s) shall include the Issuer, and for the purposes of this Disclosure Agreement, the Landowner for so long as such Landowner or its affiliates, successors or assigns (excluding residential homebuyers who are end users) are the owners of District Lands responsible for payment of at least 20% of the Assessments.

"Participating Underwriter" shall mean FMSbonds, Inc.

"Quarterly Filing Date" shall mean for the quarter ending: (i) March 31, each May 1; (ii) June 30, each August 1; (iii) September 30, each November 1; and (iv) December 31, each February 1 of the following year. The first Quarterly Filing Date shall be [	 1, 2024].
"Quarterly Report" shall mean any Quarterly Report provided by any Obligated Person (other than the Issuer) pursuant to, and as described in, Section 5 of this Disclosure Agreement.
"Repository" shall mean each entity authorized and approved by the SEC (as hereinafter defined) from time to time to act as a repository for purposes of complying with the Rule. The Repositories approved by the SEC may be found by visiting the SEC's website at http://www.sec.gov/info/municipal/nrmsir.htm. As of the date hereof, the Repository recognized by the SEC for such purpose is the MSRB, which currently accepts continuing disclosure
submissions through its EMMA web portal. As used herein, "Repository" shall include the State Repository, if any.

"Rule" shall mean Rule 15c2-12(b)(5) adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same has and may be amended from time to time.

"SEC" means the Securities and Exchange Commission. "State" shall mean the State of Florida.
"State Repository" shall mean any public or private repository or entity designated by the State as a state repository for the purposes of the Rule.
Provision of Annual Reports.

Subject to the following sentence, the Issuer shall provide the Annual Report to the Dissemination Agent no later than March 31st following the close of the Issuer's Fiscal Year (the "Annual Filing Date"), commencing with the Annual Report for the Fiscal Year ending September 30, 2023. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may cross-reference other information as provided in Section 4 of this Disclosure Agreement; provided that the Audited Financial Statements of the Issuer may be submitted separately from the balance of the Annual Report, and may be submitted in accordance with State law, which currently requires such Audited Financial Statements to be provided up to, but no later than, nine (9) months after the close of the Issuer's Fiscal Year (the "Audited Financial Statements Filing Date"). The Issuer shall, or shall cause the Dissemination Agent to, provide to the Repository the components of an Annual Report which satisfies the requirements of Section 4(a) of this Disclosure Agreement within thirty (30) days after same becomes available, but in no event later than the Annual Filing Date or Audited Financial Statements Filing Date, if applicable. If the Issuer's Fiscal Year changes, the Issuer shall give notice of such change in the same manner as for a Listed Event under Section 6.

If on the fifteenth (15th) day prior to each Annual Filing Date or the Audited Financial Statements Filing Date, as applicable, the Dissemination Agent has not received a copy of the Annual Report or Audited Financial Statements, as applicable, the Dissemination Agent shall contact the Disclosure Representative by telephone and in writing (which may be via email) to remind the Issuer of its undertaking to provide the Annual Report or Audited Financial Statements, as applicable, pursuant to Section 3(a). Upon such reminder, the Disclosure Representative shall either (i) provide the Dissemination Agent with an electronic copy of the Annual Report or the Audited Financial Statements, as applicable, in accordance with Section 3(a) above, or (ii) advise the Dissemination Agent in writing that the Issuer will not be able to file the Annual Report or Audited Financial Statements, as applicable, within the times required under this Disclosure Agreement, state the date by which the Annual Report or the Audited Financial Statements for such year, as applicable, will be provided and instruct the Dissemination Agent that a Listed Event as described in Section 6(a)(xvii) has occurred and to immediately send a notice to the Repository in substantially the form attached hereto as Exhibit A.
If the Dissemination Agent has not received an Annual Report by 12:00 noon on the first (1st) Business Day following the Annual Filing Date for the Annual Report or the Audited Financial Statements by 12:00 noon on the first (1st) Business Day following the Audited Financial Statements Filing Date for the Audited Financial Statements, then a Listed Event as described in Section 6(a)(xvii) shall have occurred and the Dissemination Agent shall immediately send a notice to the Repository in substantially the form attached as Exhibit A.

The Dissemination Agent shall:
determine each year prior to the Annual Filing Date the name, address and filing requirements of the Repository; and
promptly upon fulfilling its obligations under subsection (a) above, file a notice with the Issuer stating that the Annual Report or Audited Financial Statements has been provided pursuant to this Disclosure Agreement, stating the date(s) it was provided and listing all Repositories with which it was filed.
All documents, reports, notices, statements, information and other materials provided to the MSRB under this Disclosure Agreement shall be provided in an EMMA Compliant Format.

Content of Annual Reports.
Each Annual Report shall be in the form set in Schedule A attached hereto and shall contain the following Annual Financial Information with respect to the Issuer:
All fund balances in all Funds, Accounts and subaccounts for the Bonds and the total amount of Bonds Outstanding, in each case as of December 31st following the end of the most recent prior Fiscal Year.

The method by which Assessments are being levied (whether on- roll or off-roll) and the amounts being levied by each method in the Assessment Area for the current Fiscal Year, and a copy of the assessment roll (on roll and off roll) for the Assessments certified for collection in the Assessment Area for the current Fiscal Year.

The method by which Assessments were levied (whether on-roll or off-roll) and the amounts levied by each method in the Assessment Area for the most recent prior Fiscal Year.

The amount of Assessments collected in the Assessment Area from the property owners during the most recent prior Fiscal Year.
If available, the amount of delinquencies in the Assessment Area greater than one hundred fifty (150) days, and, in the event that delinquencies amount to more than ten percent (10%) of the amounts of the Assessments due in any year, a list of delinquent property owners.
If available, the amount of tax certificates sold for lands within the Assessment Area, if any, and the balance, if any, remaining for sale from the most recent Fiscal Year.

current Fiscal Year.
The amount of principal and interest to be paid on the Bonds in the

The most recent Audited Financial Statements of the Issuer.

In the event of any amendment or waiver of a provision of this
Disclosure Agreement, a description of such amendment or waiver in the next Annual Report, and in each case shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the type (or, in the case of a change in accounting principles, on the presentation) of financial information or operating data being presented by the Issuer. In addition, if the amendment relates to the accounting principles to be followed in preparing financial statements: (i) notice of such change shall be given in the same manner as for a Listed Event under Section 6(b); and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles.

To the extent any of the items set forth in subsections (i) through (vii) above are included in the Audited Financial Statements referred to in subsection (viii) above, they do not have to be separately set forth (unless Audited Financial Statements are being delivered later than March 31st after the close of the Issuer's Fiscal Year pursuant to Section 3(a) hereof). Any or all of the items listed above may be incorporated by reference from other documents, including limited offering memorandums and official statements of debt issues of the Issuer or related public entities, which have been submitted to the MSRB or the SEC. If the document incorporated by reference is a final limited offering memorandum or official statement, it must be available from the MSRB. The Issuer shall clearly identify each such other document so incorporated by reference.

Any Annual Financial Information containing modified operating data or financial information is required to explain, in narrative form, the reasons for the modification and the impact of the change in the type of operating data or financial information being provided.

Quarterly Reports.

Each Obligated Person (other than the Issuer), or the Landowner on behalf of any other Obligated Person that fails to execute an Assignment (as hereinafter defined), shall provide an electronic copy of the Quarterly Report to the Dissemination Agent no later than five
(5) days prior to the Quarterly Filing Date. Promptly upon receipt of an electronic copy of the Quarterly Report, but in any event no later than the applicable Quarterly Filing Date, the Dissemination Agent shall provide a Quarterly Report to the Repository.
Each Quarterly Report shall contain an update of the following information to the extent available with respect to the Assessment Area only:

The number and type of lots planned.

quarter. quarter. (cumulative).
Lot Ownership Information

The number of lots owned by the Landowner.

The number of lots owned by the Builder.

The number of lots owned by homebuyers.

Lot Status Information

The number of lots developed.

The number of lots platted.

Home Sales Status Information

The number of homes sold (but not closed) with homebuyers, during

The number of homes sold (and closed) with homebuyers, during
The total number of homes sold and closed with homebuyers Material Changes/Transfers
Material changes to any of the following: (1) builder contracts, if
applicable, (2) the number of lots planned to be developed, (3) permits/approvals, and (4) existing mortgage debt of the Obligated Person or the incurrence of new mortgage debt by the Obligated Person since the date hereof.
Any sale, assignment or transfer of ownership of lands by the Obligated Person to a third party which will in turn become an Obligated Person hereunder.
If an Obligated Person sells, assigns or otherwise transfers ownership of real property in the Assessment Area (a "Transferor Obligated Person") to a third party (a "Transferee"), which will in turn be an Obligated Person for purposes of this Disclosure Agreement as a result thereof (a "Transfer"), the Transferor Obligated Person hereby agrees to use its best efforts to contractually obligate such Transferee to agree to comply with the disclosure obligations of an Obligated Person hereunder for so long as such Transferee is an Obligated Person hereunder, to the same extent as if such Transferee were a party to this Disclosure Agreement (an "Assignment"). The Transferor Obligated Person shall notify the District and the Dissemination Agent in writing of any Transfer within five (5) Business Days of the occurrence thereof. Nothing herein shall be construed to relieve the Landowner from its obligations hereunder except to the extent a written Assignment from a Transferee is obtained and delivered to the Dissemination Agent and then only to the extent of such Assignment.
Reporting of Listed Events.
This Section 6 shall govern the giving of notices of the occurrence of any of the following Listed Events:
Principal and interest payment delinquencies;

Non-payment related defaults, if material;
Unscheduled draws on the Series 2023 Reserve Account reflecting
financial difficulties; difficulties;* perform;*

Unscheduled draws on credit enhancements reflecting financial

Substitution of credit or liquidity providers, or their failure to

Adverse tax opinions, the issuance by the Internal Revenue Service
of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the Bonds, or other material events affecting the tax status of the Bonds;
Modifications to rights of Bond holders, if material;

Bond calls, if material, and tender offers;

Defeasances;

Release, substitution, or sale of property securing repayment of the
Bonds, if material;

Rating changes;*
Bankruptcy, insolvency, receivership or similar event of the Issuer
or any Obligated Person (which is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for the Issuer or any Obligated Person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the Issuer or any Obligated Person, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the Issuer or any Obligated Person);

* Not applicable to the Bonds at their date of issuance.
Consummation of a merger, consolidation, or acquisition involving the Issuer or any Obligated Person or the sale of all or substantially all of the assets of the Issuer or any Obligated Person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material;

Appointment of a successor or additional Trustee or the change of name of the Trustee, if material;
Incurrence of a Financial Obligation of the Issuer or Obligated Person, if material, or agreement to covenants, events of default, remedies, priority rights, or other similar terms of a Financial Obligation of the Issuer or Obligated Person, any of which affect security holders, if material;
Default, event of acceleration, termination event, modification of terms, or other similar events under the terms of the Financial Obligation of the Issuer or Obligated Person, any of which reflect financial difficulties;

Failure to provide (A) any Annual Report or Audited Financial Statements as required under this Disclosure Agreement that contains, in all material respects, the information required to be included therein under Section 4(a) of this Disclosure Agreement, or
(B) any Quarterly Report that contains, in all material respects, the information required to be included therein under Section 5(b) of this Disclosure Agreement, which failure shall, in all cases, be deemed material under federal securities laws; and
Any amendment to the accounting principles to be followed in preparing financial statements as required pursuant to Section 4(a)(ix) hereof.

The Issuer shall give, or cause to be given, notice of the occurrence of any of the above subsection (a) Listed Events to the Dissemination Agent in writing in sufficient time in order to allow the Dissemination Agent to file notice of the occurrence of such Listed Event in a timely manner not in excess of ten (10) Business Days after its occurrence, with the exception of the Listed Events described in Section 6(a)(xvii) and (xviii), which notice will be given in a timely manner. Such notice shall instruct the Dissemination Agent to report the occurrence pursuant to subsection (d) below. Such notice by the Issuer to the Dissemination Agent shall identify the Listed Event that has occurred, include the text of the disclosure that the Issuer desires to make, contain the written authorization of the Issuer for the Dissemination Agent to disseminate such information, and identify the date the Issuer desires for the Dissemination Agent to disseminate the information (provided that such date is in compliance within the filing dates provided within this Section 6(b)).

Notwithstanding anything contained in Section 6(b) above, each Obligated Person other than the Issuer shall notify the Issuer and the Dissemination Agent of the occurrence of a Listed Event described in subsections (a)(x), (xii), (xiii), (xv), (xvi), or (xvii) that has occurred with respect to such Obligated Person in compliance with the notification and filing requirements provided in Section 6(b).
If the Dissemination Agent has been instructed by the Issuer to report the occurrence of a Listed Event, the Dissemination Agent shall immediately file a notice of such occurrence with each Repository.
Termination of Disclosure Agreement. This Disclosure Agreement shall terminate upon the defeasance, prior redemption or payment in full of all of the Bonds.
Dissemination Agent. Upon termination of the Dissemination Agent's services as Dissemination Agent, whether by notice of the Issuer or the Dissemination Agent, the Issuer agrees to appoint a successor Dissemination Agent or, alternatively, agrees to assume all responsibilities of Dissemination Agent under this Disclosure Agreement for the benefit of the Holders of the Bonds. If at any time there is not any other designated Dissemination Agent, the District shall be deemed to be the Dissemination Agent. The initial Dissemination Agent shall be Governmental Management Services – Central Florida, LLC. The acceptance of such designation is evidenced by the execution of this Disclosure Agreement by a duly authorized signatory of Governmental Management Services – Central Florida, LLC. Governmental Management Services – Central Florida, LLC, may terminate its role as Dissemination Agent at any time upon delivery of sixty
(60) days prior written notice to the District and each Obligated Person. The District may terminate the agreement hereunder with the Dissemination Agent at any time upon delivery of sixty (60) days prior written notice to the Dissemination Agent and each Obligated Person.

Amendment; Waiver. Notwithstanding any other provision of this Disclosure Agreement, the Issuer and the Dissemination Agent may amend this Disclosure Agreement, and any provision of this Disclosure Agreement may be waived, if such amendment or waiver is supported by an opinion of counsel expert in federal securities laws, acceptable to the Issuer, to the effect that such amendment or waiver would not, in and of itself, cause the undertakings herein to violate the Rule if such amendment or waiver had been effective on the date hereof but taking into account any subsequent change in or official interpretation of the Rule.

Notwithstanding the above provisions of this Section 9, no amendment to the provisions of Section 5(b) hereof may be made without the consent of each Obligated Person, if any.
Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the Issuer from disseminating any other information, using the means of dissemination set forth in this Disclosure Agreement or any other means of communication, or including any other information in any Annual Report or notice of occurrence of a Listed Event, in addition to that which is required by this Disclosure Agreement. If the Issuer chooses to include any information in any Annual Report or notice of occurrence of a Listed Event in addition to that which is specifically required by this Disclosure Agreement, the Issuer shall have no obligation under this Disclosure Agreement to update such information or include it in any future Annual Report or notice of occurrence of a Listed Event.

Default. In the event of a failure of the Issuer, the Disclosure Representative, any Obligated Person or the Dissemination Agent to comply with any provision of this Disclosure Agreement, the Trustee may (and, at the request of any Participating Underwriter or the Beneficial Owners of at least twenty-five percent (25%) aggregate principal amount of Outstanding Bonds and receipt of indemnity satisfactory to the Trustee, shall), or any beneficial owner of a Bond may
take such actions as may be necessary and appropriate, including seeking mandamus or specific performance by court order, to cause the Issuer, the Disclosure Representative, any Obligated Person or a Dissemination Agent, as the case may be, to comply with its obligations under this Disclosure Agreement. A default under this Disclosure Agreement by any Obligated Person shall not be deemed a default by the Issuer hereunder and no default hereunder shall be deemed an Event of Default under the Indenture, and the sole remedy under this Disclosure Agreement in the event of any failure of the Issuer, the Disclosure Representative, any Obligated Person, or a Dissemination Agent, to comply with this Disclosure Agreement shall be an action to compel performance.

Duties of Dissemination Agent. The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Agreement between the District, the Landowner and such Dissemination Agent. The Dissemination Agent shall have no obligation to notify any other party hereto of an event that may constitute a Listed Event. The District, each Obligated Person and the Disclosure Representative covenant that they will supply, in a timely fashion, any information reasonably requested by the Dissemination Agent that is necessary in order for the Dissemination Agent to carry out its duties under this Disclosure Agreement. The District, each Obligated Person and the Disclosure Representative acknowledge and agree that the information to be collected and disseminated by the Dissemination Agent will be provided by the District, Obligated Person(s), the Disclosure Representative and others. The Dissemination Agent's duties do not include authorship or production of any materials, and the Dissemination Agent shall have no responsibility hereunder for the content of the information provided to it by the District, any Obligated Person or the Disclosure Representative as thereafter disseminated by the Dissemination Agent. Any filings under this Disclosure Agreement made to the MSRB through EMMA shall be in an EMMA Compliant Format.

Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the Issuer, the Landowner, the Dissemination Agent, the Trustee, the Participating Underwriter and the Owners of the Bonds (the Dissemination Agent, the Trustee, Participating Underwriter and Owners of the Bonds being hereby deemed express third party beneficiaries of this Disclosure Agreement), and shall create no rights in any other person or entity.

Tax Roll and Budget. Upon the request of the Dissemination Agent, the Trustee or any Bondholder, the Issuer, through its District Manager, if applicable, agrees to provide such party with a certified copy of its most recent tax roll provided to the Polk County Tax Collector and the Issuer's most recent adopted budget.
Governing Law. The laws of the State of Florida and Federal law shall govern this Disclosure Agreement and venue shall be any state or federal court having jurisdiction in Polk County, Florida.

Counterparts. This Disclosure Agreement may be executed in several counterparts and each of which shall be considered an original and all of which shall constitute but one and the same instrument. A scanned copy of the signatures delivered in a PDF format may be relied upon as if the original had been received.
Trustee Cooperation. The Issuer represents that the Dissemination Agent is a bona fide agent of the Issuer and the Issuer instructs the Trustee to deliver to the Dissemination Agent at the expense of the Issuer, any information or reports readily available to and in the possession of the Trustee that the Dissemination Agent requests in writing.

Binding Effect. This Disclosure Agreement shall be binding upon each party to this Disclosure Agreement and upon each successor and assignee of each party to this Disclosure Agreement and shall inure to the benefit of, and be enforceable by, each party to this Disclosure Agreement and each successor and assignee of each party to this Disclosure Agreement. Notwithstanding the foregoing, as to the Landowner or any assignee or successor thereto that becomes an Obligated Person pursuant to the terms of this Disclosure Agreement, only successors or assignees to such parties who are, by definition, Obligated Persons, shall be bound or benefited by this Disclosure Agreement.

[Signature Page Follows]
IN WITNESS WHEREOF, the undersigned has executed this Disclosure Agreement as of the date and year set forth above.

[SEAL]
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT, AS ISSUER

ATTEST:
By:		
Secretary
By:		
Chairperson, Board of Supervisors

ST DEV PARTNERS, LLC, AS LANDOWNER

By: 	
	, Manager

GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, and
its successors and assigns, AS DISSEMINATION AGENT

By: 	 Name: 	 Title: 		

CONSENTED TO AND AGREED TO BY:

DISTRICT MANAGER
GOVERNMENTAL MANAGEMENT SERVICES – CENTRAL FLORIDA, LLC, AS DISTRICT MANAGER

By: 	 Name: 	 Title: 	
Acknowledged and agreed to for purposes of Sections 11, 13 and 17 only:

U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, AS TRUSTEE

By: 	 Name: 	 Title: 	
EXHIBIT A

FORM OF NOTICE TO REPOSITORIES OF FAILURE TO FILE [ANNUAL REPORT]
[AUDITED FINANCIAL STATEMENTS][QUARTERLY REPORT]

Name of Issuer:	Scenic Terrace South Community Development District

Name of Bond Issue:	$[	]  original  aggregate  principal  amount  of  Special
Assessment Bonds, Series 2023 (Series 2023 Project)

Obligated Person(s):	Scenic Terrace South Community Development District;
	.

Original Date of Issuance:	[		], 2023 CUSIP Numbers:		
NOTICE IS HEREBY GIVEN that the [Issuer][Obligated Person] has not provided an [Annual Report] [Audited Financial Statements] [Quarterly Report] with respect to the above- named Bonds as required by [Section 3] [Section 5] of the Continuing Disclosure Agreement dated [	], 2023, by and between the Issuer, the Landowner and the Dissemination Agent named therein. The [Issuer][Obligated Person] has advised the undersigned that it anticipates that the [Annual Report] [Audited Financial Statements] [Quarterly Report] will be filed by
	, 20   .

Dated: 	

	, as Dissemination Agent

By: 	 Name: 	 Title: 	

cc:	Issuer Trustee
SCHEDULE A

FORM OF DISTRICT'S ANNUAL REPORT (Due 3/31)
Fund Balances

Combined Trust Estate Assets	Quarter Ended – 12/31
Acquisition and Construction Fund Revenue Fund
Reserve Fund Prepayment Fund Other
Total Bonds Outstanding TOTAL

Assessment Certification and Collection Information

For the Current District Fiscal Year ‒ Manner in which Assessments are collected (On Roll vs. Off Roll)

$ Certified
On Roll	$	
Off Roll	$	
TOTAL	$	

Attach to Report the following:

On Roll ‒ Copy of certified assessment roll for the District's current Fiscal Year

Off Roll ‒ List of folios and ownership for all off roll Assessments, together with par and annual Assessment assigned to each folio

For the immediately ended Bond Year, provide the levy and collection information

Total Levy	$ Levied	$ Collected	% Collected	% Delinquent	
On Roll	$		$			%		%	
Off Roll	$		$			%		%	
TOTAL					

If available, the amount of delinquencies in the Assessment Area greater than one hundred fifty
(150) days, and, in the event that delinquencies amount to more than ten percent (10%) of the amount of the Assessments due in any year, a list of delinquent property owners

If available, the amount of tax certificates sold for lands within the Assessment Area, if any, and the balance, if any, remaining for sale from the most recent Fiscal Year

The amount of principal and interest to be paid on the Bonds in the current Fiscal Year

Section VIII

Section A

AGREEMENT BETWEEN THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT, AND ST DEV PARTNERS, LLC REGARDING TRUE-UP AS TO SERIES 2023 ASSESSMENTS

This True-Up Agreement (“Agreement”) is made and entered into this   day of August 2023, by and between (together, the “Parties”):

Scenic Terrace South Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the Town of Lake Hamilton, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 (the “District”), and
ST DEV PARTNERS, LLC, a Florida limited liability company, the Developer and owner of certain lands within the District, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880, and its successors and assigns (“Developer” or “Landowner”).

RECITALS

Whereas, the District was established by an ordinance adopted by the Town Commission of the Town of Lake Hamilton, Florida, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”) and is validly existing under the Constitution and laws of the State of Florida; and

Whereas, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District’s activities and services; and

WHEREAS, Landowner is the owner and/or developer of certain lands within the District and a Landowner of all or portions of the same, which lands are described in Exhibit A (“Series 2023 Assessment Area”); and
Whereas, the District has adopted an improvement plan to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services, as detailed in the Scenic Terrace South Community Development District Engineer’s Report-Amended and Restated, dated May 16, 2023 (the “Engineer’s Report”) for the improvements associated with the development of the District (the “Series 2023 Project”), attached
to this Agreement as Exhibit B and the estimated costs of the improvements related to Series 2023 Project is identified therein; and
Whereas, the District intends to finance a portion of the Series 2023 Project, through the anticipated issuance of its Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023, (Series 2023 Project) in the principal amount of $	 (the “Series 2023 Bonds”); and
Whereas, pursuant to Resolution Nos. 2023-05, 2023-06, 2023-11 and 2023-  (the “Assessment Resolutions”), the District imposed special assessments on Series 2023 Assessment Area within the District to secure the repayment of the Series 2023 Bonds; and
Whereas, Landowner agrees that all developable lands within Series 2023 Assessment Area, including Landowner’s property, benefit from the timely design, construction, or acquisition of the Series 2023 Project; and
Whereas, Landowner agrees that the Series 2023 Assessment Area which were imposed on Series 2023 Assessment Area within the District, have been validly imposed and constitute valid, legal and binding liens upon Series 2023 Assessment Area, which Series 2023 Assessment Area remain unsatisfied; and
Whereas, to the extent permitted by law, Landowner waives any defect in notice or publication or in the proceedings to levy, impose and collect the Series 2023 Assessment Area on Series 2023 Assessment Area within the District; and

Whereas, the Amended and Restated Master Assessment Methodology, dated May 17, 2023, as supplemented by that Supplemental Assessment Methodology, dated 	, 2023 (collectively, the “Assessment Report”), provides that as the Series 2023 Assessment Area is platted or re-platted, the allocation of the amounts assessed to and constituting a lien upon Series 2023 Assessment Area within the District would be allocated and calculated based upon certain density assumptions relating to the number of each type of single-family units to be constructed on Series 2023 Assessment Area within the District, which assumptions were provided by Landowner; and

Whereas, Landowner intends that Series 2023 Assessment Area within the District will be platted, planned and developed based on then-existing market conditions, and the actual densities developed may be at some density less than the densities assumed in the District's Assessment Report; and

Whereas, the District's Assessment Report anticipates a mechanism by which Landowner shall, if required, make certain payments to the District in order to satisfy, in whole or in part, the assessments allocated and the liens imposed pursuant to the Assessment Resolutions, the amount of such payments being determined generally by a calculation of the remaining unallocated debt prior to the recording of any plat or site plan for a parcel or tract, as described in the District’s Assessment Report (which payments shall collectively be referenced as the “True-Up Payment”); and
Whereas, Landowner and the District desire to enter into an agreement to confirm Landowner’s intention and obligation, if required, to make the True-Up Payment related to the Series 2023 Assessment Area, subject to the terms and conditions contained herein.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Section 1. Recitals. The recitals stated above are true and correct and by this reference are incorporated into and form a material part of this Agreement.

Section 2.	Covenants.

The provisions of this Agreement shall constitute a covenant running with Series 2023 Assessment Area lands, which lands are described herein in Exhibit A, and shall remain in full force and effect and be binding upon Landowner, its heirs, legal representatives, estates, successors, grantees, and assigns until released pursuant to the terms herein.
Landowner agrees that to the extent Landowner fails to timely pay all Series 2023 Assessment Area collected by mailed notice of the District, said unpaid Series 2023 Assessment Area (including True-Up Payments), may be placed on the tax roll by the District for collection by the Tax Collector pursuant to Section 197.3632, Florida Statutes, in any subsequent year.
Section 3.	Special Assessment Reallocation.

Assumptions as to the Series 2023 Assessment Area. As of the date of the execution of this Agreement, Landowner has informed the District that Landowner intends to plat Series 2023 Assessment Area into a total of 99 single family lots.
Process for Reallocation of Assessments. The Series 2023 Assessment Area will be reallocated among Series 2023 Assessment Area as Series 2023 Assessment Area is platted or re-platted (hereinafter referred to as “plat” or “platted”). In connection with such platting of Series 2023 Assessment Area of the District, the Series 2023 Assessment Area imposed on the lands being platted will be allocated based upon the precise number of lots within the area being platted. It is intended that all the Series 2023 Assessment Area will be assigned to the 99 lots platted in Series 2023 Assessment Area. In furtherance thereof, at such time as Series 2023 Assessment Area is to be platted, Landowner covenants that such plat or plats shall be presented to the District. The District shall allocate the Series 2023 Assessment Area to the number of lots being platted and the remaining lands in Series 2023 Assessment Area in accordance with the District’s Assessment Report and cause such reallocation to be recorded in the District’s Improvement Lien Book.
It is an express condition of the liens established by the Assessment Resolutions that any and all plats containing any portion of Series 2023 Assessment Area within the District owned by Landowner shall be presented to the District for review and allocation of the Series 2023 Assessment Area to the lots being platted and the remaining property within Series 2023 Assessment Area in accordance with the Assessment Report (“Reallocation”). Landowner covenants to comply with this requirement for the Reallocation. The District agrees that no further action by the Board of Supervisors shall
be required. The District’s review of the plats shall be limited solely to the Reallocation of Series 2023 Assessment Area and enforcement of the District’s assessment liens. Nothing herein shall in any way operate to or be construed as providing any other plat and plan approval or disapproval powers to the District.
The purpose of the True-Up calculation is to ensure that the bond debt will be able to be assigned to at least 99 platted lots within Series 2023 Assessment Area of the District. Thus, at the time of platting of any portion of Series 2023 Assessment Area, or any re-platting thereof, there must be at least 99 platted lots in Series 2023 Assessment Area to assign the bond debt to. If not, subject to subsection (v) below, the District would require a True-Up Payment from Landowner or the person or entity seeking to file such plat in an amount sufficient to reduce the remaining bond debt to the actual number of lots platted in Series 2023 Assessment Area as in the par amount per platted lot as set forth in the Assessment Report.
The True-Up calculation shall be performed at the time Series 2023 Assessment Area is platted.
If at the time the True-Up calculation is performed, it is determined that less than 99 lots are to be platted within Series 2023 Assessment Area, a True-Up Payment shall become due and payable by Landowner. Any such True-Up Payment determined to be due by Landowner shall be paid in full prior to approval of the plat. Such True-Up Payment shall be in addition to the regular Series 2023 Assessment Area installment payable for Series 2023 Assessment Area owned by Landowner. The District will take all necessary steps to ensure that True-Up Payments are made in a timely fashion to ensure its debt service obligations are met, and in all cases, Landowner agrees that such payments shall be made in order to ensure the District’s timely payment of the debt service obligations on the Series 2023 Bonds. The District shall record all True-Up Payments in its Improvement Lien book. If such True-Up Payment is made at least 35 days prior to an interest payment date on the Series 2023 Bonds, Landowner shall include accrued interest as part of the True-Up Payment to such interest payment date. If such True-Up Payment becomes due within 35 days of the next interest payment date, accrued interest shall be calculated to the next succeeding interest payment date.
The foregoing is based on the District's understanding with Landowner that Landowner will plat or cause to be platted at least 99 residential lots within Series 2023 Assessment Area as identified in the Assessment Report and Engineer’s Report. However, the District agrees that nothing herein prohibits more or less than the anticipated residential dwelling units from being platted. In the event Landowner plats less than 99 lots within Series 2023 Assessment Area, the Landowner may either make a True-Up Payment or leave unassigned Series 2023 Assessment Area on un-platted lands within Series 2023 Assessment Area provided the maximum debt allocation per acre as set forth in the Assessment Resolution is not exceeded. In no event shall the District collect Series 2023 Assessment Area pursuant to the Assessment Resolutions in excess of the total debt service related to the Series 2023 Project, including all costs of financing and interest. The District, however, may collect Series 2023 Assessment Area in excess of the annual debt service related to the Series 2023 Project, including all costs of financing and interest, which shall be applied to prepay the Series 2023 Bonds.  If the strict application of the True-Up
methodology to any Reallocation for any plat pursuant to this paragraph would result in Series 2023 Assessment Area collected in excess of the District's total debt service obligation for the Series 2023 Project, the District agrees to take appropriate action by resolution to equitably Reallocate the assessments.
Section 3.  Enforcement. This Agreement is intended to be an additional method of enforcement of Landowner’s obligation to pay the Series 2023 Assessment Area and to abide by the requirements of the Reallocation of Series 2023 Assessment Area, including the making of the True-Up Payment, if any, as set forth in the Assessment Resolutions. A default by any Party under this Agreement shall entitle any other Party to all remedies available at law or in equity, but excluding special, consequential or punitive damages.

Section 4. Recovery of Costs and Fees. In the event any Party is required to enforce this Agreement by court proceedings or otherwise, then the substantially prevailing party, as determined by the applicable court or other dispute resolution provider, shall be entitled to recover from the other(s) all fees and costs incurred, including reasonable attorneys' fees and costs incurred prior to or during any litigation or other dispute resolution and including all fees and costs incurred in appellate proceedings.

SECTION 5. NOTICE. All notices, requests, consents and other communications hereunder ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, by overnight delivery service, or electronic or hand delivered to the Parties, as follows:

If to the District:	Scenic Terrace South
Community Development District 219 East Livingston Street Orlando, Florida 32801
Attn: District Manager

With a copy to:	Kilinski ǀ Van Wyk, PLLC 517 E. College Avenue Tallahassee, Florida 32301 Attn: Roy Van Wyk

If to Landowner:	ST Dev Partners, LLC 346 E. Central Avenue
Winter Haven, Florida 33880 Attn: Albert S. Cassidy

With a copy to:	Straughn & Turner, P.A.
255 Magnolia Avenue Winter Haven, Florida 33880 Attn: Richard Straughn
Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address or telecopy number set forth herein. If mailed as provided above, Notices shall be deemed delivered on the third business day unless actually received earlier. Notices hand delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the Parties may deliver Notice on behalf of the Parties. Any Party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name, address or telecopy number to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein.

Notwithstanding the foregoing, to the extent Florida law requires notice to enforce the collection of any assessments placed on Series 2023 Assessment Area by the District, then the provision of such notice shall be in lieu of any additional notice required by this Agreement.

Section 6.	Assignment.

Landowner may not assign its duties or obligations under this Agreement except in accordance with the terms of this Section 7(C) below. This Agreement shall constitute a covenant running with title to all or any portion of the Series 2023 Assessment Area, binding upon Landowner and its successors and assigns including, without limitation, any purchaser and its successors and assigns as to Series 2023 Assessment Area or portions thereof, and any transferee of any portion of Series 2023 Assessment Area, but shall not be binding upon transferees permitted by Sections 7(B)(i), (ii) or (iii) below.

No portion of Series 2023 Assessment Area may be transferred to any third party without complying with the terms of Section 7(C) below, other than:

Platted and fully-developed lots to homebuilders restricted from re-platting.

Platted and fully-developed lots to end users.

Portions of Series 2023 Assessment Area exempt from debt special assessments or to be dedicated to the Town, County, the District, or other governmental agencies.

Any transfer of any portion of Series 2023 Assessment Area pursuant to subsections (i), (ii) or (iii) of this Section 7(B), shall constitute an automatic release of such portion of Series 2023 Assessment Area from the scope and effect of this Agreement.

Landowner shall not transfer any portion of Series 2023 Assessment Area to any third party, except as permitted by Sections 7(B)(i), (ii) or (iii) above, without satisfying the following conditions (“Transfer Conditions”):
delivering a recorded copy of this Agreement to such third party; and
satisfying any True-Up Payment that results from a True-Up analysis that will be performed by the District Manager prior and as a condition to such transfer.

Any transfer that is consummated pursuant to this Section 7(C) shall operate as a release of Landowner from its obligations under this Agreement as to such portion of Series 2023 Assessment Area only arising from and after the date of such transfer and satisfaction of all of the Transfer Conditions including payment of any True-Up Payment due pursuant to subsection 7(C)(ii) above, and the transferee shall be deemed to have assumed Landowner’s obligations in accordance herewith and shall be deemed the “Landowner” from and after such transfer for all purposes as to such portion of Series 2023 Assessment Area so transferred.

Section 7. Amendment. This Agreement shall constitute the entire agreement between the Parties regarding the subject matter discussed herein and may be modified in writing only by the mutual agreement of all Parties. This Agreement may not be amended without the prior written consent of the Trustee on behalf and acting at the direction of the bondholders owning more than 50% of the aggregate principal amount of the applicable Series 2023 Bonds then outstanding.

Section 8.  Termination. This Agreement shall continue in effect until it is rescinded in writing by the mutual assent of each Party, provided, however, that this Agreement and the covenants contained herein may not be terminated or released prior to platting and development of all Series 2023 Assessment Area without the prior written consent of the Trustee on behalf and acting at the direction of bondholders owning more than 50% of the aggregate principal amount of the applicable Series 2023 Bonds then outstanding.

Section 9. Negotiation at Arm’s Length. This Agreement has been negotiated fully between the Parties as an arm’s length transaction. The Parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, The Parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against either Party.

Section 10. Third Party Beneficiaries. This Agreement is solely for the benefit of the District and Landowner and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Except as provided in the immediately succeeding sentence, nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or entity other than the District and Landowner any right, remedy or claim under or by reason of this Agreement or any provisions or conditions of this Agreement; and all of the provisions, representations, covenants and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and Landowner and their respective representatives, successors and assigns. Notwithstanding anything herein to the contrary, the Trustee for the Series 2023 Bonds, on behalf of the owners of the Series 2023 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and shall be entitled to enforce Landowner’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.
Section 11.	Limitations on Governmental Liability. Nothing in this Agreement
shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

Section 12. Applicable Law and Venue. This Agreement and the provisions contained herein shall be construed, interpreted, and controlled according to the laws of the State of Florida. Each Party consents that the exclusive venue for any litigation arising out of or related to this Agreement shall be in a court of appropriate jurisdiction, in and for Polk County, Florida.

Section 13. Public Records. Landowner understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and may require treatment as such in accordance with Florida law.

Section 14. Execution in Counterparts. This instrument may be executed in any number of counterparts, each of which, when executed and delivered, shall constitute an original, and such counterparts together shall constitute one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

Section 15. Severability. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

Section 16. Effective Date. This Agreement shall become effective after execution by the Parties hereto on the date reflected above.

[Remainder of this page left intentionally blank]
WITNESSES:	ST DEV PARTNERS LLC, a Florida
limited liability company

By: Albert S. Cassidy

[Print Name]	Its: Manager

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this 	 day of 	, 2023, by Albert S. Cassidy as Manager of ST Dev Partners, LLC, on behalf of the Company.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	
WITNESSES:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Warren K. (Rennie) Heath, II

[Print Name]	Chairperson, Board of Supervisors

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization this   day of 	, 2023, by Warren K. (Rennie) Heath II, as Chairperson of the Board of Supervisors of the Scenic Terrace South Community Development District.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	

Exhibit A:	Legal Description of Series 2023 Assessment Area
Exhibit B:	Scenic Terrace South Community Development District Engineer’s
Report-Amended and Restated, dated May 16, 2023
Exhibit A
Legal Description of Series 2023 Assessment Area
Exhibit B
Engineer’s Report

Scenic Terrace South Community Development District
Engineer's Report – Amended and Restated
May 16, 2023

SUBMITTED BY:
Dewberry Engineers Inc. 800 North Magnolia Avenue Suite 1000
Orlando, Florida 32803
407-843-5120
TABLE OF CONTENTS

Introduction	2
Purpose and Scope	3
The Development	3
Capital Improvements	3
Stormwater Management Facilities	4
Public Roadways	4
Water and Wastewater Facilities	5
Off-Site Utilities	5
Amenities and Parks	5
Electric Utilities and Lighting	5
Entry Features	5
Miscellaneous	6
Permitting	6
Recommendation	6
Report Modification	6
Summary and Conclusion	6
Engineer’s Certification	7
List of Exhibits
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Legal Description of Amended District	Exhibit 4
Existing Land Use Map	Composite Exhibit 5
Future Land Use Map	Composite Exhibit 5
Utility Location Map and Drainage Flow Pattern Map	Exhibit 6
Summary of District Facilities	Exhibit 7A
Summary of Opinion of Probable Cost	Exhibit 7B
Overall Site Plan	Exhibit 8

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Scenic Terrace South Community Development District
INTRODUCTION
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (the “Town). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres of land from the District, adding approximately 30.182 acres of land to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. After the Ordinance was passed, this brought the total area of the District to 211.11 acres, with an expected 843 residential lots of various sizes.

The Master Developer (“Developer”) Atlantic Blue Communities II, LLC is based in Lake Wales, Florida. The Development is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, county, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development, an overall estimate of the probable cost of the public improvements are provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

TABLE 1	AREA	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
TABLE 3 LOT TYPES			
LOT TYPE	UNITS	AREA (AC)	
40-ft Lots	293	25.21 ac	
50-ft Lots	550	61.58 ac	
TOTAL LOTS IN THE DISTRICT	843	86.79 ac	

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

PURPOSE AND SCOPE
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report will identify the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

THE DEVELOPMENT
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

CAPITAL IMPROVEMENTS
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. Installation of streetlights and undergrounding of power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, there are conservation areas that can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, the county, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrates that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be done in areas where we will impact existing depressions throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement, and also to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
stated above, the District's funding of roadway construction will occur for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed for the District. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two (2) to three (3) years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the county.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the Development. The CDD presently intends to fund the cost to purchase and install the street lighting along the internal roadways within the CDD.
Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation water mains to the various phases of the development will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters. These items will be funded, owned, and maintained by the CDD.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District:

Permits/Approvals	Approval/Expected Date	
Zoning Approval	Residential	Planned	Unit	Development
(RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No.
45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-
0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-
041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-
001	

RECOMMENDATION
As previously explained within this report, the public infrastructure, as described, is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

REPORT MODIFICATION
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

SUMMARY AND CONCLUSION
The improvements as outlined are necessary for the functional development of the Project. The Project is being designed

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
in accordance with current government regulatory requirements. The Project will serve its intended function provided the construction is in substantial compliance with the design. Items of construction for the Project are based upon current development plans.

ENGINEER’S CERTIFICATION
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South CDD
Composite Exhibit 7A - Summary of Proposed District Facilities

District Infrastructure	
Construction	
Ownership	
Capital Financing*	Operation and Maintenance	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk
County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.

Facility	Phase 1
434 Lots
2021-2023
Existing Phase	Phase 2
198 Lots
2021-2023
Existing Phase	Phase 3
112 Lots
2023-2024
Existing Phase	Phase 4
99 Lots
2023-2024
Expansion Phase	
Total Lots (843 Lots)	
Earthwork	$	1,454,030	$	891,179	$	353,041.92	$	312,063.84	$	3,010,315	
Roadway	$	2,797,550	$	1,714,627	$	679,252.00	$	600,410.25	$	5,791,839	
Stormwater System	$	2,147,198	$	1,316,025	$	521,345.44	$	460,832.13	$	4,445,401	
Wastewater System	$	2,213,168	$	1,356,458	$	537,362.56	$	474,990.12	$	4,581,979	
Potable Water Distribution System	$	1,253,457	$	768,248	$	304,343.20	$	269,017.65	$	2,595,066	
Reclaimed Water Distribution System	$	801,396	$	491,178	$	194,580.96	$	171,995.67	$	1,659,151	
Electrical Undergrounding	$	1,095,850	$	671,650	$	266,075.04	$	235,191.33	$	2,268,766	
Landscape & Hardscape	$	1,342,223	$	822,653	$	325,895.36	$	288,068.22	$	2,778,840	
Amenitites (Cabana, Tot Lots, and Recreation Areas)	$	930,000	$	570,000	$	225,806.56	$	199,596.87	$	1,925,403	
Offsite Improvements	$	1,122,897	$	1,122,897	$  1,122,897.25	$  1,122,897.25	$	4,491,589	

Subtotal	
$	15,157,769	
$	9,724,915	
$	4,530,600	
$	4,135,063	
$	33,548,348	
Professional Fees (10%)					$	3,354,835	

Subtotal					
$	36,903,183	
Contingency (10%)					$	3,690,318	

Total					
$	40,593,501	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).

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Section B
AGREEMENT BY AND BETWEEN THE
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AND ST DEV PARTNERS, LLC, REGARDING THE
COMPLETION OF CERTAIN IMPROVEMENTS

This Agreement (“Agreement”) is made and entered into this 	 day of 	
2023, by and between (together, the “Parties”):

Scenic Terrace South Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the Town of Lake Hamilton, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 (the “District”), and

ST DEV PARTNERS, LLC, a Florida limited liability company, the Developer and owner of certain lands within the District, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880, and its successors and assigns (“Developer” or “Landowner”).

RECITALS

Whereas, the District was established by an ordinance adopted by the Town Commission of the Town of Lake Hamilton, Florida (the “Town”), pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”) and is validly existing under the Constitution and laws of the State of Florida; and

Whereas, the Act authorizes the District to issue bonds for the purpose, among others, of planning, financing, constructing, operating and/or maintaining certain infrastructure, including stormwater management facilities, water and sewer utilities, roadways, irrigation, off-site improvements, landscape and hardscape, street lighting, parks and recreation, and other infrastructure within or without the boundaries of the District; and

WHEREAS, Landowner is the owner and developer of a portion of the lands within the District (“Series 2023 Assessment Area”), described in Exhibit A, which will be subject to the proposed issuance of the Series 2023 Bonds, defined herein; and

WHEREAS, the District has adopted an improvement plan to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services as described in the Scenic Terrace South Community Development District Engineer’s Report-Amended and Restated, dated May 16, 2023 (the “Engineer’s Report”), attached to this Agreement as Exhibit B (“Improvements”), and the estimated costs of the Improvements, described as “Series 2023” (the “Series 2023 Project”), are identified therein; and

Whereas, In addition to the Series 2023 Project components, Developer is obligated to fund or complete certain additional off-site improvements including wastewater treatment
facilities, water lines, re-use water lines, sewer lines, drainage systems together with any other improvement, exaction, or contribution required to be made by Developer and necessary for the full utilization of the lot owners’ property (the “Off-Site Improvements”), whether or not included in an approved plan, development order, or other agreement between the Developer and the Town, (the “Developer Obligations”); and

WHEREAS, the District has imposed debt special assessments on the Series 2023 Assessment Area within the District (the “Series 2023 Assessments”), to secure financing for the construction of the Series 2023 Project described in Exhibit B, and has validated $42,000,000 in special assessment bonds to fund the planning, design, permitting, construction and/or acquisition of Improvements including the Series 2023 Project; and

Whereas, the District intends to finance a portion of the Series 2023 Project through the anticipated issuance of its Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project), in the principal amount of $	 (the “Series 2023 Bonds”); and

Whereas, Landowner has requested that the District limit the amount of Series 2023 Assessments imposed upon the Series 2023 Assessment Area by allowing the Landowner to directly fund a portion of the Series 2023 Project; and

Whereas, Landowner has agreed to complete or cause funds to be provided to the District to complete the portion of the Series 2023 Project, as set forth in the Engineer’s Report, not funded by proceeds of the Series 2023 Bonds; and

Whereas, in consideration of the District limiting the amount of Series 2023 Assessments on the Series 2023 Assessment Area, Landowner has requested that the District enter into this Agreement and to provide the terms and conditions under which the Series 2023 Project shall be completed; and

Whereas, in order to ensure that the Series 2023 Project is completed and funding is available in a timely manner to provide for its completion, Landowner and the District hereby agree that the District will be obligated to issue no more than $	 in Series 2023 Bonds to fund the Series 2023 Project and Landowner will complete or will make provision for additional funds that may be needed in the future for the completion of the Series 2023 Project, over and above the amount of the Series 2023 Bonds including, but not limited to, all administrative, legal, warranty, engineering, permitting or other related soft costs.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Incorporation of Recitals. The recitals stated above are true and correct and by this reference are incorporated herein and form a material part of this Agreement.
Completion of Improvements. Landowner and the District agree and acknowledge that the District’s proposed Series 2023 Bonds will provide only a portion of the funds necessary to complete the Series 2023 Project. Therefore, Landowner hereby agrees to complete the Series 2023 Project or cause such funds to be provided to the District in an amount sufficient to allow the District to complete those portions of the Series 2023 Project which may remain unfunded including, but not limited to, all administrative, legal, warranty, engineering, permitting or other related soft costs (collectively, the “Remaining Improvements”), whether pursuant to existing contracts, including change orders thereto, or future contracts.

Subject to Existing Contract. When all or any portion of the Remaining Improvements are subject to an existing District contract, the Landowner shall provide funds directly to the District in an amount sufficient to complete the Remaining Improvements pursuant to such contract, including change orders thereto.

Not Subject to Existing Contract. When any portion of the Remaining Improvements is not the subject of an existing District contract, the Landowner may choose to complete, cause to be completed, or provide funds to the District in an amount sufficient to allow the District to complete or cause to be completed, those Remaining Improvements, subject to a formal determination by the District that the option selected by the Landowner will not materially and adversely impact the District.

Developer Obligations. Timely payment or performance by the Developer for the Developer Obligations related to the Off-Site Improvements shall be the direct responsibility of the Developer and shall not in any way become an obligation of the District. The Developer understands and agrees that the Developer Obligations are direct consideration and a specific inducement to the District and its bondholders for the issuance of the Series 2023 Bonds and is a requirement of this Agreement and subject to enforcement pursuant to the terms herein.

Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness to provide funds for any portion of the Remaining Improvements or the Developer Obligations. The Parties hereby acknowledge and agree that the District’s execution of this Agreement constitutes the manner and means by which any and all portions of Landowner’s portion of the Remaining Improvements and Developer Obligations are to be funded and completed. Notwithstanding the foregoing, in the event the Landowner, either jointly or individually, fails to timely provide funds or to complete the Remaining Improvements, the District may exercise its authority to issue additional bonds and certify for collection additional debt special assessments in an amount sufficient to complete the Remaining Improvements.

Other Conditions and Acknowledgments.

The District and Landowner agree and acknowledge that the exact location, size, configuration, and composition of the Series 2023 Project may change from that described in the Engineer’s Report depending upon final design of the development, permitting or other regulatory requirements over time, or other factors. Material changes to the Series 2023 Project shall be made by a written amendment to the Engineer’s Report,
which shall include an estimate of the cost of the changes. Material changes to the Series 2023 Project shall require the prior written consent of the Trustee acting on behalf and at the direction of the bondholders owning more than 50% of an aggregate principal amount of the applicable Series 2023 Bonds then outstanding.

The District and Landowner acknowledge and agree that the provision of funds under this Agreement or the completion of the Remaining Improvements will be considered a contribution in lieu of the imposition of debt special assessments upon the Series 2023 Assessment Area benefitted by the Series 2023 Project.

Notwithstanding anything to the contrary contained in this Agreement, the payment or performance by Landowner of its obligations hereunder are expressly subject to, dependent and conditioned upon (a) the issuance of $	 par amount of Series 2023 Bonds and use of the proceeds thereof to fund a portion of the Series 2023 Project, and (b) the scope, configuration, size and/or composition of the Series 2023 Project not materially changing without the consent of Landowner. Such consent is not necessary, and Landowner must meet the completion obligations, or cause them to be met, when the scope, configuration, size and/or composition of the Series 2023 Project is materially changed in response to a requirement imposed by a regulatory agency.

Default and Protection Against Third Party Interference. A default
by any Party under this Agreement shall entitle the others to all remedies available at law or in equity, which may include, but not be limited to, the right of actual damages and/or specific performance, but excluding special, consequential or punitive damages. Except as expressly otherwise provided in this Agreement, the District shall be solely responsible for enforcing its rights under this Agreement against any interfering third party. Except as expressly otherwise provided in this Agreement, nothing contained in this Agreement shall limit or impair the District’s right to protect its rights under this Agreement from interference by a third party.

Enforcement of Agreement. In the event that any Party is required to enforce this Agreement by court proceedings or otherwise, then the Parties agree that the substantially prevailing party shall be entitled to recover from the other(s) all fees and costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by all Parties hereto, but only with the written consent of the Trustee acting at the direction of the bondholders owning more than 50% of an aggregate principal amount of the Series 2023 Bonds then outstanding, with respect to amendments having a material effect on the District’s ability to pay debt service on the Series 2023 Bonds.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and Landowner, both the District and Landowner have complied with all the requirements of law, and both the District and Landowner have full power and authority to comply with the terms and provisions of this Agreement.
NOTICES. All notices, requests, consents and other communications under this Agreement ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the Parties, as follows:

If to the District:	Scenic Terrace South Community
Development District
219 East Livingston Street Orlando, Florida 32801 Attn: District Manager

With a copy to:	Kilinski ǀ Van Wyk, PLLC 517 E. College Avenue Tallahassee, Florida 32301 Attn: Roy Van Wyk

If to Landowner:	ST Dev Partners, LLC 346 E. Central Avenue
Winter Haven, Florida 33880 Attn: Albert S. Cassidy

With a copy to:	Straughn & Turner, P.A.
255 Magnolia Avenue Winter Haven, Florida 33800 Attn: Richard Straughn

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for each Party may deliver Notice on behalf of such Party. Any Party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein.

Arm’s Length Transaction. This Agreement has been negotiated fully between the District and Landowner as an arm’s length transaction. Both Parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the Parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either Party.

Third Party Beneficiaries. Except as otherwise provided in this Section 10 with respect to Trustee, this Agreement is solely for the benefit of the Parties and no right or
cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Except as otherwise provided in this Section 10 with respect to Trustee, nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or entity other than the Parties hereto any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and Landowner and the respective representatives, successors, and assigns of each. Notwithstanding anything herein to the contrary, the Trustee for the Series 2023 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and shall be entitled to enforce the obligations of Landowner hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.

ASSIGNMENT. No Party hereto may assign this Agreement or any monies to become due hereunder without the prior written approval of the other Parties and the Trustee acting on behalf and at the direction of the bondholders owning more than 50% of an aggregate principal amount of the applicable Series 2023 Bonds then outstanding.

Applicable Law and Venue. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each party consents that the exclusive venue for any litigation arising out of or related to this Agreement shall be in a court of appropriate jurisdiction, in and for Polk County, Florida.

EFFECTIVE DATE. This Agreement shall be effective upon execution by all Parties hereto.

PUBLIC RECORDS. Landowner understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and treated as such in accordance with Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

Limitations on Governmental Liability. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

Headings for Convenience Only. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such
counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[Remainder of this page intentionally left blank]
In witness whereof, Landowner and the District have caused this Assignment to be executed and delivered on the day and year first written above.

ATTEST:	Scenic Terrace South community
Development District

Secretary/Assistant Secretary	Warren K. (Rennie) Heath II Chairperson, Board of Supervisors

WITNESSES:	ST DEV PARTNERS, LLC, a Florida limited liability company

By: Albert S. Cassidy

[Print Name]	Its: Manager

Exhibit A: Legal Description of Series 2023 Assessment Area
Exhibit B: Scenic Terrace South Community Development District Engineer’s Report Amended and Restated, dated May 16, 2023
Exhibit A: Legal Description of Series 2023 Assessment Area
Exhibit B
Engineer’s Report

Scenic Terrace South Community Development District
Engineer's Report – Amended and Restated
May 16, 2023

SUBMITTED BY:
Dewberry Engineers Inc. 800 North Magnolia Avenue Suite 1000
Orlando, Florida 32803
407-843-5120
TABLE OF CONTENTS

Introduction	2
Purpose and Scope	3
The Development	3
Capital Improvements	3
Stormwater Management Facilities	4
Public Roadways	4
Water and Wastewater Facilities	5
Off-Site Utilities	5
Amenities and Parks	5
Electric Utilities and Lighting	5
Entry Features	5
Miscellaneous	6
Permitting	6
Recommendation	6
Report Modification	6
Summary and Conclusion	6
Engineer’s Certification	7
List of Exhibits
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Legal Description of Amended District	Exhibit 4
Existing Land Use Map	Composite Exhibit 5
Future Land Use Map	Composite Exhibit 5
Utility Location Map and Drainage Flow Pattern Map	Exhibit 6
Summary of District Facilities	Exhibit 7A
Summary of Opinion of Probable Cost	Exhibit 7B
Overall Site Plan	Exhibit 8

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Scenic Terrace South Community Development District
INTRODUCTION
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (the “Town). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres of land from the District, adding approximately 30.182 acres of land to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. After the Ordinance was passed, this brought the total area of the District to 211.11 acres, with an expected 843 residential lots of various sizes.

The Master Developer (“Developer”) Atlantic Blue Communities II, LLC is based in Lake Wales, Florida. The Development is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, county, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development, an overall estimate of the probable cost of the public improvements are provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

TABLE 1	AREA	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
TABLE 3 LOT TYPES			
LOT TYPE	UNITS	AREA (AC)	
40-ft Lots	293	25.21 ac	
50-ft Lots	550	61.58 ac	
TOTAL LOTS IN THE DISTRICT	843	86.79 ac	

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

PURPOSE AND SCOPE
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report will identify the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

THE DEVELOPMENT
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

CAPITAL IMPROVEMENTS
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. Installation of streetlights and undergrounding of power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, there are conservation areas that can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, the county, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrates that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be done in areas where we will impact existing depressions throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement, and also to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
stated above, the District's funding of roadway construction will occur for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed for the District. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two (2) to three (3) years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the county.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the Development. The CDD presently intends to fund the cost to purchase and install the street lighting along the internal roadways within the CDD.
Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation water mains to the various phases of the development will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters. These items will be funded, owned, and maintained by the CDD.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District:

Permits/Approvals	Approval/Expected Date	
Zoning Approval	Residential	Planned	Unit	Development
(RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No.
45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-
0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-
041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-
001	

RECOMMENDATION
As previously explained within this report, the public infrastructure, as described, is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

REPORT MODIFICATION
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

SUMMARY AND CONCLUSION
The improvements as outlined are necessary for the functional development of the Project. The Project is being designed

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
in accordance with current government regulatory requirements. The Project will serve its intended function provided the construction is in substantial compliance with the design. Items of construction for the Project are based upon current development plans.

ENGINEER’S CERTIFICATION
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South CDD
Composite Exhibit 7A - Summary of Proposed District Facilities

District Infrastructure	
Construction	
Ownership	
Capital Financing*	Operation and Maintenance	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk
County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.

Facility	Phase 1
434 Lots
2021-2023
Existing Phase	Phase 2
198 Lots
2021-2023
Existing Phase	Phase 3
112 Lots
2023-2024
Existing Phase	Phase 4
99 Lots
2023-2024
Expansion Phase	
Total Lots (843 Lots)	
Earthwork	$	1,454,030	$	891,179	$	353,041.92	$	312,063.84	$	3,010,315	
Roadway	$	2,797,550	$	1,714,627	$	679,252.00	$	600,410.25	$	5,791,839	
Stormwater System	$	2,147,198	$	1,316,025	$	521,345.44	$	460,832.13	$	4,445,401	
Wastewater System	$	2,213,168	$	1,356,458	$	537,362.56	$	474,990.12	$	4,581,979	
Potable Water Distribution System	$	1,253,457	$	768,248	$	304,343.20	$	269,017.65	$	2,595,066	
Reclaimed Water Distribution System	$	801,396	$	491,178	$	194,580.96	$	171,995.67	$	1,659,151	
Electrical Undergrounding	$	1,095,850	$	671,650	$	266,075.04	$	235,191.33	$	2,268,766	
Landscape & Hardscape	$	1,342,223	$	822,653	$	325,895.36	$	288,068.22	$	2,778,840	
Amenitites (Cabana, Tot Lots, and Recreation Areas)	$	930,000	$	570,000	$	225,806.56	$	199,596.87	$	1,925,403	
Offsite Improvements	$	1,122,897	$	1,122,897	$  1,122,897.25	$  1,122,897.25	$	4,491,589	

Subtotal	
$	15,157,769	
$	9,724,915	
$	4,530,600	
$	4,135,063	
$	33,548,348	
Professional Fees (10%)					$	3,354,835	

Subtotal					
$	36,903,183	
Contingency (10%)					$	3,690,318	

Total					
$	40,593,501	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).

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Section C
AGREEMENT BY AND BETWEEN THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AND ST DEV PARTNERS, LLC REGARDING THE ACQUISITION OF WORK PRODUCT,
IMPROVEMENTS, AND REAL PROPERTY

This Agreement (“Agreement”) is made and entered into this 	 day of 	
2023, by and between (together, the “Parties”):

Scenic Terrace South Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the Town of Lake Hamilton, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 (the “District”); and

ST DEV PARTNERS, LLC, a Florida limited liability company, the Developer and owner of certain lands within the District, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880, and its successors and assigns (“Developer” or “Landowner”).

RECITALS

Whereas, the District was established for the purposes of planning, financing, constructing, acquiring, operating and/or maintaining certain public infrastructure, as authorized by Chapter 190, Florida Statutes; and

WHEREAS, the District has adopted an improvement plan for the planning, design, acquisition, construction, and installation of various infrastructure improvements, facilities, and services (the “Improvements”) within the District, and the anticipated cost thereof, as described in that certain Scenic Terrace South Community Development District Engineer’s Report-Amended and Restated, dated May 16, 2023 (the “Engineer’s Report”), attached hereto as Exhibit A and incorporated herein by reference; and

Whereas, the Landowner is the owner and/or primary Developer of certain lands located within the boundaries of the District known as the “Series 2023 Assessment Area” within which a portion of the District Improvements will be located (the “Series 2023 Project”); and

Whereas, the District intends to finance all or a portion of the Improvements through the anticipated issuance of its Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (the “Series 2023 Bonds”); and

Whereas, because the Series 2023 Bonds have not yet been issued, the District has not had sufficient monies on hand to allow the District to fund the cost of preparation of the necessary surveys, reports, drawings, plans, permits, specifications, and related documents which would allow the timely commencement and completion of construction of the Improvements (the “Work Product”); and
Whereas, the District acknowledges the Landowner’s need to have the Improvements constructed in an expeditious and timely manner in order to develop the Series 2023 Project; and

WHEREAS, the District agrees that it will not have sufficient monies to proceed with either the preparation of the Work Product or the commencement of construction of the Improvements described in Exhibit A until such time as the District has closed on the sale of the Series 2023 Bonds; and

Whereas, to avoid a delay in the commencement of the construction of the Improvements, the Landowner has advanced, funded, commenced, and completed and/or will complete certain work to enable the District to expeditiously provide the Improvements; and

Whereas, the District desires to commence the acquisition of certain Work Product and the Improvements, and accept assignment of certain agreements regarding the same; and

Whereas, in conjunction with the acquisition of the Work Product and/or Improvements, the Landowner desires to convey to the District interests in real property sufficient to allow the District to own, operate, maintain, construct, or install the Improvements, if any such conveyances are appropriate, and such conveyances shall be in fee simple, perpetual easement, or other interest as may be in the best interests of the District (the “Real Property”); and

Whereas, the Landowner and the District desire to enter into this Agreement to set forth the process by which the District may acquire the Work Product, Improvements, and/or Real Property.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt and sufficiency of which are hereby acknowledged, the District and the Landowner agree as follows:

SECTION 1. INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated herein and form a material part of this Agreement.

SECTION 2.  WORK PRODUCT. The District agrees to pay the lesser of actual cost incurred by the Landowner or fair market value, for preparation of the Work Product in accordance with the provisions of this Agreement. The Landowner shall provide copies of any and all invoices, bills, receipts, or other evidence of costs incurred by the Landowner for the Work Product. The Parties agree to cooperate and use good faith and best efforts to undertake and complete the acquisition process contemplated by this Agreement on such date as the Parties may jointly agree upon (the “Acquisition Date”). The Parties agree that separate or multiple Acquisition Dates may be established for any portion of the acquisitions contemplated by this Agreement. The District Engineer shall review all evidence of cost and shall certify to the District’s Board of Supervisors (the “Board”) the total actual amount of cost, which, in the District Engineer’s sole opinion, is reasonable for the Work Product. The District Engineer’s opinion as to cost shall be set forth in an Engineer’s Certificate which shall accompany the requisition for the funds from the trustee (“Trustee”) for the Series 2023 Bonds. In the event that the Landowner disputes the District Engineer’s opinion as to cost, the District and the Landowner agree to use good faith efforts to
resolve such dispute. If the Parties are unable to resolve any such dispute, the Parties agree to jointly select a third-party engineer whose decision as to any such dispute shall be binding upon the Parties. Such decision by a third-party engineer shall be set forth in an Engineer’s Affidavit which shall accompany the requisition for the funds from the Trustee. The Parties acknowledge that the Work Product is being acquired for use by the District in connection with the construction of the Improvements.

The Landowner agrees to convey to the District, and solely to the extent permitted by the terms of the Work Product, the Work Product upon payment of the sums determined to be acceptable by the District Engineer and approved by the District’s Board pursuant to and as set forth in this Agreement.

The Landowner agrees to release to the District all right, title, and interest which the Landowner may have in and to the above described Work Product, as well as all common law, statutory, and other reserved rights, including all copyrights in the Work Product and extensions and renewals thereof under United States law and throughout the world, and all publication rights and all subsidiary rights and other rights in and to the Work Product in all forms, mediums, and media, now known or hereinafter devised; provided, however, that the District agrees and acknowledges that the Landowner shall retain the right, title and interest to use the Work Product, and the District shall grant the Landowner a license to use the Work Product to the extent reasonably required by the Landowner in connection with the ownership, construction, development, and management of the Series 2023Project or other lands owned by Landowner to which such Work Product pertains. To the extent determined necessary by the District, the Landowner shall use commercially reasonable efforts to obtain all releases from any professional providing services in connection with the Work Product to enable the District to use and rely upon the Work Product. Such releases may include, but are not limited to, any architectural, engineering, or other professional services.

Except as otherwise separately agreed by the Parties with respect to any particular acquisition of Work Product, and without intending to modify any of the other terms of this Agreement, any conveyance of Work Product shall be on an “AS-IS” basis, and without any representation or warranty from the Landowner to the District in respect thereto.

The Landowner agrees to make reasonable good faith efforts, but without imposing any requirement on Landowner to pay for additional warranty rights on behalf of the District, to provide or cause to be provided to the District, either by assignment or directly from such third parties as may be necessary and desirable to the mutual satisfaction of the Parties hereto, a warranty that the Work Product is fit for the purposes to which it will be put by the District, as contemplated by the Engineer’s Report.

The District agrees to allow the Landowner access to and use of the Work Product without the payment of any fee by the Landowner. However, to the extent the Landowner’s access to and use of the Work Product causes the District to incur any cost or expense, such as copying costs, the Landowner agrees to pay such cost or expense.
SECTION 3.  IMPROVEMENTS. The Landowner has expended certain funds on behalf of the District relating to the Improvements. The District agrees to acquire or otherwise reimburse the Landowner for those portions of the Improvements which have been commenced or completed prior to the issuance of the Series 2023 Bonds. When a portion of the Improvements is ready for conveyance by the Landowner to the District, the Landowner shall notify the District in writing, describing the nature of the improvement, its general location, and its estimated cost. Landowner agrees to provide, at or prior to the Acquisition Date, the following: (i) documentation of actual costs paid; (ii) instruments of conveyance such as special warranty bills of sale or such other instruments as may be reasonably requested by the District; and (iii) any other releases, indemnifications, or documentation as may be reasonably requested by the District. Any real property interests necessary for the functioning of the Improvements to be acquired under this paragraph shall be reviewed and conveyed in accordance with the provisions of Section 5 herein. The District Engineer in consultation with District Counsel shall determine in writing whether the infrastructure to be conveyed is a part of the Improvements contemplated by the Engineer’s Report, and if so, shall provide Landowner with a list of items necessary to complete the acquisition. Each such acquisition shall also be subject to the engineering review and certification process described in Section 2 above. The District Manager shall determine, in writing, whether the District has, based on the Landowner’s estimate of cost, sufficient unencumbered funds to acquire the improvement.

All documentation of any acquisition (e.g., bills of sale, receipts, maintenance bonds, as-builts, evidence of costs, deeds or easements, etc.) shall be to the reasonable satisfaction of the District. If any item acquired is to be conveyed to a third- party governmental entity, then the Landowner agrees to cooperate and provide such certifications, warranties, representations or other items as may be required by that governmental entity, if any.

The District Engineer shall certify as to the actual cost of any improvement built or constructed by or at the direction of the Landowner, and the District shall pay no more than the actual cost incurred, or the fair market value of the improvement, whichever is less, as determined by the District Engineer.

The Landowner agrees to cooperate in the transfer of any permits to the District or another governmental entity with maintenance obligations for any Improvements conveyed pursuant to this Agreement.

Nothing herein shall require the District to accept any Work Product and/or Improvements unless the District Engineer, in his or her professional opinion, is able to certify that, in addition to any other requirements of law: (i) the Work Product and/or Improvements are as set forth in the Engineer’s Report; (ii) the price for such Work Product and/or Improvements is equal to or less than each of (a) the cost actually paid to develop and/or install the Work Product and/or Improvements by the Landowner and (b) the reasonable fair market value of the Work Product and/or Improvements; (iii) as to Work Product, the Work Product is capable of being used for the purposes intended by the District, and, as to any Improvements, the Improvements were installed in accordance with their
specifications, and are capable of performing the functions for which they were intended; and (iv) as to any Improvements, all known plans, permits and specifications necessary for the operation and maintenance of the Improvements are complete and on file with the District, and have been transferred, or are capable of being transferred, to the District for operations and maintenance responsibilities.

SECTION 4. ASSIGNMENT OF CONTRACTS. The District may accept the assignment of certain contracts. Such acceptance is predicated upon: (i) each contractor providing a bond in the form and manner required by Section 255.05, Florida Statutes, or the Landowner providing adequate alternative security in compliance with Section 255.05, Florida Statutes, if required; and
(ii) receipt by the District of a release from each general contractor acknowledging each assignment and the validity thereof, acknowledging the furnishing of the bond or other security required by Section 255.05, Florida Statutes, if any, and waiving any and all claims against the District arising as a result of or connected with such assignment. Until such time as the Series 2020 Bonds are actually issued, the Landowner agrees to provide such funds as are needed by the District to make all payments for any such assigned contracts when and as needed by the District.

SECTION 5.   CONVEYANCE OF REAL PROPERTY.

Conveyance. In the event that real property interests are to be conveyed by the Landowner and acquired by the District in connection with the acquisition of the Improvements, and as mutually agreed upon by the District and the Landowner, then in such event, the Landowner agrees that it will convey to the District at or prior to the Acquisition Date by a special warranty deed, or non-exclusive easement, as reasonably acceptable to the District together with a metes and bounds or other legal description, the Real Property upon which the Improvements are constructed or which are necessary for the operation and maintenance of, and access to the Improvements. The Parties agree that in no event shall the purchase price for the Real Property exceed the lesser of the actual cost to the Landowner or the value of an appraisal obtained by the District for this purpose. The Parties agree that the purchase price shall not include amounts attributable to the value of improvements on the Real Property and other improvements serving the Real Property that have been, or will be, funded by the District. The District may determine in its reasonable discretion that fee title is not necessary and in such cases shall accept such other interest in the lands upon which the Improvements are constructed as the District deems reasonably acceptable. Such special warranty deed or other instrument shall be subject to a reservation by Landowner of its right and privilege to use the area conveyed to construct any Improvements and any future improvements to such area for any related purposes (including, but not limited to, construction traffic relating to the construction of the development) not inconsistent with the District’s use, occupation or enjoyment thereof. The Landowner shall pay the cost for recording fees and documentary stamps required, if any, for the conveyance of the lands upon which the Improvements are constructed. The Landowner shall be responsible for all taxes and assessments levied on the lands upon which the Improvements are constructed until such time as the Landowner conveys said lands to the District. At the time of conveyance, the District may require, at Landowner’s expense, an owner’s title insurance policy in a form satisfactory to the District. In the event the title search reveals exceptions to title which render title unmarketable or which, in the District’s reasonable discretion,
would materially interfere with the District’s use of such lands, the District shall not be required to accept such conveyance of Real Property and/or any related Improvements or Work Product.

Boundary or Other Adjustments. Landowner and the District agree that reasonable future boundary adjustments may be made as deemed necessary and approved by both Parties in order to accurately describe lands conveyed to the District and lands which remain in Landowner’s ownership; provided, however, that such future boundary adjustments shall not affect the ability of the Landowner to have the lots developed. The Parties agree that any land transfers made to accommodate such adjustments shall be accomplished by donation. However, the party requesting such adjustment shall pay any transaction costs resulting from the adjustment, including but not limited to taxes, title insurance, recording fees or other costs.

SECTION 6.   TAXES, ASSESSMENTS, AND COSTS.

Taxes and Assessments on Property Being Acquired. The District is an exempt governmental unit acquiring property pursuant to this Agreement for use exclusively for public purposes. Accordingly, in accordance with Florida law, the Landowner agrees to place in escrow with the Polk County Tax Collector an amount equal to the current ad valorem taxes and non-ad valorem assessments prorated to the date of transfer of title, based upon the expected assessment and millage rates giving effect to the greatest discount available for early payment.

If and only to the extent the property acquired by the District is subject to ad valorem taxes or non-ad valorem assessments, the Landowner agrees to reimburse the District for payment, or pay on its behalf, any and all ad valorem taxes and non-ad valorem assessments imposed during the calendar year in which each parcel of property is conveyed.

Nothing in this Agreement shall prevent the District from asserting any rights to challenge any taxes or assessments imposed, if any, on any property of the District.

Notice. The Parties agree to provide notice to the other within ten (10) calendar days of receipt of any notice of potential or actual taxes, assessments, or costs, as a result of any transaction pursuant to this Agreement, or notice of any other taxes assessments or costs imposed on the property acquired by the District as described in Subsection A above. The Landowner covenants to make any payments due hereunder in a timely manner in accordance with Florida law. In the event that the Landowner fails to make timely payment of any such taxes or costs, the Landowner acknowledges the District’s right to make such payment. If the District makes such payment, the Landowner agrees to reimburse the District within thirty (30) calendar days of receiving notice of such payment, and to include in such reimbursement any fees, costs, penalties, or other expenses which accrued to the District as a result of making such a payment, including interest at the maximum rate allowed by law from the date of the payment made by the District.
Tax liability not created. Nothing herein is intended to create or shall create any new or additional tax liability on behalf of the Landowner or the District. Furthermore, the Parties reserve all respective rights to challenge, pay under protest, contest or litigate the imposition of any tax, assessment, or cost in good faith they believe is unlawfully or inequitably imposed and agree to cooperate in good faith in the challenge of any such imposition.

SECTION 7.	ACQUISITION IN ADVANCE OF RECEIPT OF PROCEEDS.	The District and
Landowner hereby agree that an acquisition by the District may be completed prior to the District obtaining proceeds from the Series 2023 Bonds (“Prior Acquisitions”). The District agrees to pursue the issuance of the Series 2023 Bonds in good faith and, within thirty (30) days from the issuance of such Series 2023 Bonds, to make payment for any Prior Acquisitions completed pursuant to the terms of this Agreement; provided, however, that in the event Bond Counsel determines that any such Prior Acquisitions are not properly compensable for any reason, including, but not limited to, federal tax restrictions imposed on tax-exempt financing, the District shall not be obligated to make payment for such Prior Acquisitions. Interest shall not accrue on the amounts owed for any Prior Acquisitions. In the event the District does not or cannot issue the Series 2020 Bonds within five (5) years from the date of this Agreement, and, thus does not make payment to the Landowner for the Prior Acquisitions, the Parties agree that the District shall have no reimbursement obligation whatsoever. The Landowner acknowledges that the District intends to convey some or all of the Improvements to the Town of Lake Hamilton and consents to the District’s conveyance of such improvements prior to payment for any Prior Acquisitions.

SECTION 8.  DEFAULT. A default by either Party under this Agreement shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of damages and/or specific performance, but excluding special, consequential or punitive damages.

SECTION 9.  INDEMNIFICATION. For all actions or activities which occur prior to the date of the acquisition of the relevant Real Property, Improvement or Work Product hereunder, the Landowner agrees to indemnify and hold harmless the District and its officers, staff, agents and employees from any and all liability, claims, actions, suits or demands by any person, corporation or other entity for injuries, death, property damage or claims of any nature arising out of, or in connection with, the use by the Landowner, its officers, agents, employees, invitees or affiliates, of the Real Property, Improvement, or Work Product, including litigation or any appellate proceedings with respect thereto, irrespective of the date of the initiation or notice of the claim, suit, etc.; provided, however, that the Landowner shall not indemnify the District for a default by the District under this Agreement or the use of such Real Property, Improvement or Work Product by the District, its engineers, employees, contractors, or such persons’ or entities’ negligence.

SECTION 10. ENFORCEMENT OF AGREEMENT. In the event that any Party is required to enforce this Agreement by court proceedings or otherwise, then the Parties agree that the substantially prevailing party shall be entitled to recover from the other(s) all fees and costs incurred, including reasonable attorneys’ fees, paralegal fees and expert witness fees, and costs for trial, alternative dispute resolution, or appellate proceedings.
SECTION 11. ENTIRE AGREEMENT. This instrument shall constitute the final and complete expression of the agreement between the District and the Landowner relating to the subject matter of this Agreement.

SECTION 12. AMENDMENTS. This Agreement shall constitute the entire agreement between the Parties regarding the subject matter hereof and may be modified in writing only by the mutual agreement of all Parties, and with regards to amendments having a material effect on the payment of debt service on the Series 2023 Bonds, with the prior written consent of the trustee for the Series 2023 Bonds (the “Trustee”) acting at the direction of the holders owning a majority of the aggregate principal amount of the Series 2023 Bonds then outstanding.

SECTION 13. AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Landowner. The District and the Landowner have complied with all the requirements of law. The District and the Landowner have full power and authority to comply with the terms and provisions of this Agreement.

SECTION 14. NOTICES. All notices, requests, consents and other communications under this Agreement (“Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the Parties, as follows:

If to the District:	Scenic Terrace South Community Development District 219 East Livingston Street
Orlando, Florida 32801 Attn: District Manager

With a copy to:	Kilinski ǀ Van Wyk, PLLC
517 E. College Avenue Tallahassee, Florida 32301 Attn: Roy Van Wyk

If to Landowner:	ST Dev Partners, LLC
346 E. Central Avenue Winter Haven, Florida 33880 Attn: Albert S. Cassidy

With a copy to:	Straughn & Turner, P.A.
255 Magnolia Avenue Winter Haven, Florida 33800 Attn: Richard Straughn

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and
legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel for the Landowner may deliver Notice on behalf of the District and the Landowner. Any Party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the Parties and addressees set forth in this Agreement.

SECTION 15. ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Landowner as an arm’s length transaction. All Parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, all Parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against any Party hereto.

SECTION 16. THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the District and the Landowner and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or entity other than the District and the Landowner any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and the Landowner and their respective representatives, successors, and assigns. Notwithstanding the foregoing, nothing in this paragraph shall be construed as impairing or modifying the rights of any holders of Series 2023 Bonds issued by the District for the purpose of acquiring any Work Product, Improvements and/or Real Property. Also, notwithstanding anything herein to the contrary, the Trustee for the Series 2023 Bonds, on behalf of the owners of the Series 2023 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and shall, acting at the direction of the bondholders owning more than 50% of an aggregate principal amount of the applicable Series 2023 Bonds then outstanding, be entitled to cause the District to enforce the Landowner’s obligations hereunder.

SECTION 17. ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either Party only upon the written consent of the other, which consent shall not be unreasonably withheld, and the Trustee acting on behalf of the Bondholders owning a majority of the aggregate principal amount of the Series 2023 Bonds then outstanding. Such consent shall not be required in the event of a sale of the majority of the Series 2023 Project then-owned by the Landowner pursuant to which the unaffiliated purchaser agrees to assume any remaining obligations of the Landowner under this Agreement. Upon the merger, amendment, or name change of the District, the Agreement will be assumed by operation of law by the District’s successor in interest and no consent to such assumption shall be required.

SECTION 18. APPLICABLE LAW AND VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each Party consents that the exclusive venue for any litigation arising out of or related to this Agreement shall be in a court of appropriate jurisdiction, in and for Polk County, Florida.
SECTION 19. EFFECTIVE DATE. This Agreement shall be effective upon its execution by the District and the Landowner.

SECTION 20. TERMINATION. This Agreement may be terminated by the District without penalty in the event that the District does not issue its proposed Series 2023 Bonds within five (5) years from the date of this Agreement.

SECTION 21. PUBLIC RECORDS. The Landowner understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and will be treated as such in accordance with Florida law.

SECTION 22. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

SECTION 23.	LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement
shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

SECTION 24. HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

SECTION 25. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[Remainder of this page intentionally left blank]
In witness whereof, the Parties execute this Agreement the day and year first written
above.

ATTEST:	Scenic Terrace South community
Development District

Secretary/Assistant Secretary	Warren K. (Rennie) Heath II Chairperson, Board of Supervisors

WITNESSES:	ST DEV PARTNERS LLC, a Florida limited liability company

By: Albert S. Cassidy

[Print Name]	Its: Manager

Exhibit A: Scenic Terrace South Community Development District Engineer’s Report-Amended and Restated, dated May 16, 2023
Exhibit A
Engineer’s Report

Scenic Terrace South Community Development District
Engineer's Report – Amended and Restated
May 16, 2023

SUBMITTED BY:
Dewberry Engineers Inc. 800 North Magnolia Avenue Suite 1000
Orlando, Florida 32803
407-843-5120
TABLE OF CONTENTS

Introduction	2
Purpose and Scope	3
The Development	3
Capital Improvements	3
Stormwater Management Facilities	4
Public Roadways	4
Water and Wastewater Facilities	5
Off-Site Utilities	5
Amenities and Parks	5
Electric Utilities and Lighting	5
Entry Features	5
Miscellaneous	6
Permitting	6
Recommendation	6
Report Modification	6
Summary and Conclusion	6
Engineer’s Certification	7
List of Exhibits
Aerial Location Map	Exhibit 1
Legal Description of Existing District	Exhibit 2
Legal Description of Expansion/Contraction Parcels	Exhibits 3A-3C
Legal Description of Amended District	Exhibit 4
Existing Land Use Map	Composite Exhibit 5
Future Land Use Map	Composite Exhibit 5
Utility Location Map and Drainage Flow Pattern Map	Exhibit 6
Summary of District Facilities	Exhibit 7A
Summary of Opinion of Probable Cost	Exhibit 7B
Overall Site Plan	Exhibit 8

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Scenic Terrace South Community Development District
INTRODUCTION
The Scenic Terrace South Community Development District (the ''District" or “CDD”) is located at Scenic Highway (SR 17) and Hughes Road and within the Town of Lake Hamilton (the “Town). The CDD was established under Town Ordinance No. O-21-19, which was approved by the Town of Lake Hamilton Commission on October 5, 2021. The District will own and operate the public roadways, utility systems, and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development. The District previously contained approximately 188.33 acres and was expected to consist of 744 residential lots of various sizes for single-family dwellings with recreation/amenity areas, parks, and associated infrastructure for the development. On May 2, 2023, Ordinance No. O-23-05 was passed in the Town of Lake Hamilton, effectively removing approximately 15.699 acres of land from the District, adding approximately 30.182 acres of land to the District, and correcting a scrivener’s error regarding the original metes and bounds legal description of the District. After the Ordinance was passed, this brought the total area of the District to 211.11 acres, with an expected 843 residential lots of various sizes.

The Master Developer (“Developer”) Atlantic Blue Communities II, LLC is based in Lake Wales, Florida. The Development is approved as a Planned Unit Development (PUD) for residential units and is divided into four phases. A land use summary is presented in Table 1.

Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the Town, county, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development, an overall estimate of the probable cost of the public improvements are provided in Exhibit 7 of this report.

The Capital Improvement Plan (CIP) or this Engineer’s Report reflects the present intentions of the District and the landowners. It should be noted that the location of the proposed facilities and improvements may be adjusted during the final design, permitting, and implementation phases. It should also be noted that these modifications are not expected to diminish the benefits to the property within the District. The District reserves the right to make reasonable adjustments to the development plan to meet applicable regulatory requirements of agencies with jurisdiction over the development while maintaining a comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

TABLE 1	AREA	
Master Stormwater System	42.88 ac	
Residential Land (Single-Family 40-ft and 50-ft Lots)	86.79 ac	
Roadways Infrastructure & Public Facilities	67.47 ac	
Open Space/Conservation Areas/Parks	13.97 ac	
TOTAL	211.11 ac	

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
TABLE 3 LOT TYPES			
LOT TYPE	UNITS	AREA (AC)	
40-ft Lots	293	25.21 ac	
50-ft Lots	550	61.58 ac	
TOTAL LOTS IN THE DISTRICT	843	86.79 ac	

Implementation of any proposed facilities or improvements outlined in this report requires written approval from the District's Board of Supervisors. Estimated costs outlined in this report are based on the best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates as final engineering and specific field conditions may affect construction costs.

All roadway improvements including sidewalks in the right-of-way and storm drainage collection systems (from the curb inlets to their connection to the stormwater ponds) within the development will be maintained by the District. Water distribution and wastewater collection systems (gravity lines, force mains, and lift stations) will be dedicated to the Town of Lake Hamilton and Haines City for ownership and maintenance upon completion.

PURPOSE AND SCOPE
The purpose of this report is to provide engineering support for the funding of the proposed improvements within the District. This report will identify the proposed public infrastructure to be constructed or acquired by the District along with an Opinion of Probable Construction Costs. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure.

The predominant portion of this report provides descriptions of the proposed public infrastructure improvements, determination of estimated probable construction costs, and the corresponding benefits associated with the implementation of the described improvements. Detailed site construction plans and specifications have been completed and permitted for the improvements described herein. The engineer has considered and, in specific instances, has relied upon the information and documentation prepared or supplied by others to prepare this Engineer’s Report.

THE DEVELOPMENT
The development will consist of a total of 843 residential units and associated infrastructure. The development is a planned residential community consisting of 211.11 acres on the east and west sides of SR 17 Scenic Highway and the north and south sides of Hughes Road. The District is located within the Town of Lake Hamilton in Polk County. The future land use is Residential Lands – 5 (RL-5) and zoning is Planned Unit Development (PUD). The development will be constructed in four phases.

CAPITAL IMPROVEMENTS
The CIP consists of public infrastructure in the development. The primary portions of the CIP will provide for stormwater pond construction, roadways built to an urban roadway typical section, water, and sewer facilities including three lift stations, and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

There will also be stormwater structures and conveyance culverts within the CIP, which will outfall into the various on- site stormwater ponds. These structures and pond areas comprise the overall stormwater facilities of the CIP.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Installation of the water distribution and wastewater collection system will also occur at this time, as well as the three lift stations serving the project. Below-ground installation of telecommunications and cable television will occur but will not be funded by the District. Installation of streetlights and undergrounding of power within the public rights-of-way or easements will be funded by the District.

As a part of the recreational component of the CIP, there are conservation areas that can serve as passive parks within the development that are available to the public for utilization of the facilities. The recreational areas will have connectivity via sidewalks to the other portions of the District. The recreational areas will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS
The CIP for the District includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention/detention ponds are contained within the District boundaries. Stormwater will be discharged via roadway curb and gutter and storm inlets. Storm culverts convey the runoff into the proposed retention ponds for water quality treatment and attenuation. The proposed stormwater systems will utilize dry retention and wet retention for biological pollutant assimilation to achieve water quality treatment. The design criteria for the District’s stormwater treatment systems are regulated by the Town, the county, and SWFWMD. There are very few conservation areas throughout the District, which will be preserved in the existing condition and will accept stormwater discharges from our ponds as shown in Exhibit 6.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel Numbers 12105C0380G and 12105C0390G demonstrates that the property is located within Flood Zones AE and X. Based on this information and the site topography, it appears that 100-year compensation will be done in areas where we will impact existing depressions throughout the development and the 100-year flood volumes will be compensated as it is required the county and FEMA.

During the construction of stormwater management facilities, utilities, and roadway improvements the contractor will be required to adhere to a Stormwater Pollution Prevention Plan (SWPPP) as required by the FDEP as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict the proposed recommended locations of required erosion control measures and staked turbidity barriers specifically along the downgradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting as required by the National Pollutant Discharge Elimination System (NPDES) General Permit with erosion control, its maintenance, and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections include a 24-foot roadway consisting of asphalt and with Miami curbs or Type F curb and gutter on both sides along with a 50-foot right-of-way. The proposed roadway section will consist of stabilized subgrade, a lime rock, crushed concrete, or cement-treated base and asphalt type roadway wearing surface. The proposed curb is to be 2-feet wide and placed along the edge of the proposed roadway section for purposes of protecting the integrity of the pavement, and also to provide stormwater runoff conveyance to the proposed stormwater inlets.

The proposed roadways will also require signage and pavement markings within the public rights-of-way, as well as street signs depicting street name identifications, and addressing, which will be utilized by the residents and public. As

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
stated above, the District's funding of roadway construction will occur for all public roadways.

Water and Wastewater Facilities
A potable drinking water system inclusive of a water main, gate valves, fire hydrants, and appurtenances will be installed for the District. The water service provider will be the Town of Lake Hamilton or Haines City Public Utilities. The water system will be designed to provide an equally distributed system that provides redundancy to the system. These facilities will be installed within the proposed public rights-of-way and will provide potable drinking water (domestic) and fire protection services to serve the entire District.

A domestic wastewater collection system inclusive of gravity sanitary sewer mains and sewer laterals will be installed. The gravity sanitary sewer mains will be a minimum of eight (8)-inch diameter PVC pipe systems. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Sewer laterals will branch off from these sewer lines to serve the development. Three lift stations are anticipated for this CIP. Flow from the lift stations shall be connected to a proposed force main that will pump to an existing force main that will connect to the Town’s or Haines City’s wastewater treatment facility.

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrances. The site construction activities associated with the CIP are anticipated to be completed in the next two (2) to three (3) years. Upon completion of each phase, the improvements will be through the required inspections as well as final certifications of completions will be obtained from SWFWMD, Polk County Health Department (water distribution system), FDEP (wastewater collection), Town of Lake Hamilton Public Utilities, and the county.

Amenities and Parks
The District will provide funding for an amenity center to include the following: parking areas, pavilion with restroom facilities, pool, all-purpose playfields, and walking trails between the phases and villages to provide connectivity to the various amenity centers within the CDD. In addition, there will be passive parks throughout the development, which will include benches and walking trails.

Electric Utilities and Lighting
The electric distribution system thru the District is currently planned to be underground, The District presently intends to fund and construct the undergrounding of the electric conduits, transformer/cabinet pads, and electric manholes required by Duke Energy (Duke). Electric facilities will be maintained by Duke after the dedication to The District, with Duke providing underground electrical service to the Development. The CDD presently intends to fund the cost to purchase and install the street lighting along the internal roadways within the CDD.
Entry Feature
Landscaping, irrigation, entry features, and walls at the entrances and along the outside boundary of the Development will be provided by the District. The irrigation system will use an irrigation well. The well and irrigation water mains to the various phases of the development will be constructed and acquired by the CDD with District funds and operated and maintained by the CDD. Landscaping for the roadways will consist of sod, annual flowers, shrubs, ground cover, and trees for the internal roadways within the CDD. Perimeter fencing will be provided at the site entrances and perimeters. These items will be funded, owned, and maintained by the CDD.

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
Miscellaneous
The stormwater improvements, landscaping and irrigation, recreational improvements, street lighting, and certain permits and professional fees as described in this report are being financed by the District to benefit all of the developable real property within the District. The construction and maintenance of the proposed public improvements will benefit the development for the intended use as a single-family/residential planned development.

Permitting
Construction permits for all phases are required and include the SWFWMD ERP, Polk County Health Department, FDEP, and Town of Lake Hamilton construction plan approval.

Following is a summary of required permits obtained or pending approval for the construction of the public infrastructure improvements for the District:

Permits/Approvals	Approval/Expected Date	
Zoning Approval	Residential	Planned	Unit	Development
(RPUD) – Approved June 1, 2021	
SWFWMD ERP	Approved October 31, 2022 – Permit No.
45372.001	
Town of Lake Hamilton – Site Plans	Approved February 22, 2022	
FDEP Sanitary Sewer General Permit	Approved May 18, 2022 – Permit No. CS53-
0420586-001-DWC/CM	
FDEP Water Distribution General Permit	Approved April 7, 2022 – Permit No. 139218-
041	
FDEP NOI	Effective April 7, 2022 – ID No. FLR20FH97-
001	

RECOMMENDATION
As previously explained within this report, the public infrastructure, as described, is necessary for the development and functional operation as required by the Town. The site planning, engineering design, and construction plans for the infrastructure are in accordance with the applicable requirements of the Town of Lake Hamilton, Polk County, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation are in substantial conformance with the design construction plans and regulatory permits.

Items utilized in the Opinion of Probable Costs for this report are based upon the proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD, Polk County, and the Town regulations.

REPORT MODIFICATION
During the development and implementation of the designed public infrastructure improvements, it may be necessary to make modifications and/or deviations to the plans. However, if such deviations and/or revisions do not change the overall primary objective of the plan for such improvements, then the cost differences would not materially affect the proposed construction cost estimates.

SUMMARY AND CONCLUSION
The improvements as outlined are necessary for the functional development of the Project. The Project is being designed

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.
in accordance with current government regulatory requirements. The Project will serve its intended function provided the construction is in substantial compliance with the design. Items of construction for the Project are based upon current development plans.

ENGINEER’S CERTIFICATION
It is our professional opinion that the public infrastructure costs for the CIP provided in this report are reasonable to complete the construction of the public infrastructure improvements. Furthermore, the public infrastructure improvements will benefit and add value to lands within the District and the value is at least the same as the costs for said improvements.

The Opinion of Probable Costs for the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon current unit prices and on our experience with ongoing and similar projects and basis in the county and the Town. However, labor market, future costs of equipment; materials, changes to the regulatory permitting agencies' activities, and the actual construction processes employed by the chosen site contractor are beyond the engineer's control. Due to this inherent opportunity for changes (upward or downward) in the construction costs, the total, final construction cost may be more or less than this estimate.

Based upon the presumption that the CIP construction continues in a timely manner, it is our opinion that the costs of the CIP proposed represent a system of improvements benefitting all developable property located within the District, are fair and reasonable, and that the District-funded improvements are assessable improvements within the meaning of Chapter 190, F.S. We have no reason to believe that the CIP improvements cannot be constructed at the cost described in this report. We expect the improvements to be constructed or acquired by the District with bond proceeds, as indicated within this report. We believe that the District will be well served by the improvements discussed in this report.

I hereby certify that the foregoing is a true and correct copy of the engineer’s report for the Scenic Terrace South Community Development District.

Reinardo Malavé, P.E. Florida License No. 31588

COMPANY CONFIDENTIAL AND PROPRIETARY: Use or disclosure of data contained on this sheet is subject to restriction on the title page of this proposal.

PARCELS LH9 AND LH10: ANNEXED INTO THE TOWN OF LAKE HAMILTON
PARCEL 410: ANNEXED INTO
THE TOWN OF LAKE HAMILTON VIA TOWN ORDINANCE
O-21-15, APPROVED 9/7/2021

LH9

LH10

410

396A

320A
AMENDED DISTRICT BOUNDARY

PARCELS ADDED
PARCELS REMOVED
AMENDED DISTRICT BOUNDARY

PARCEL 410 ADDED TO
DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05

SECTS 9 & 10, T27S, R28E
PARCELS 396A AND 320A REMOVED FROM DISTRICT BOUNDARY VIA ORDINANCE NO. O-23-05
PARCELS LH9 AND LH10 ADDED TO DISTRICT
BOUNDARY VIA
ORDINANCE NO. O-23-05

EXHIBIT 1 - LOCATION MAP
SCENIC TERRACE SOUTH CDD
0'	500'
1000'

DATE: 5/16/2023
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR			
A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF			
BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS			
RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH			
89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN			
MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID			
WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE			
NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST			
ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE			
SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE			
NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL			
RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF			
SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9,			
PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF			
400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID			
SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY			
LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF			
THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A			
DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF			
THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE			
SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST			
ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE			
OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND			
DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST,			
100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST,			
300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE			
SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE			
SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID			
NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS			
SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST			
RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE			
SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF			
THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06"			
WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST,			
49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00			
FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET			
TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY			
LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING. CONTAINING 196.63 ACRES, MORE OR LESS.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK			
COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD,			
RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 206.541 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 2 - LEGAL DESCRIPTION OF		
	EXISTING DISTRICT		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
EXHIBIT 3A - CONTRACTION PARCELS:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE			
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF			
SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64			
FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE			
ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING			
TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE			
PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE			
FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF			
200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A			
DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO			
AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A			
DISTANCE OF 216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED			
AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF			
SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC			
HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE			
ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A			
DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E.,			
A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST			
1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325			
ACRES, MORE OR LESS.			
ALTOGETHER CONTAINING 15.699 ACRES, MORE OR LESS.			

EXHIBIT 3B - NEW EXPANSION PARCELS:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF			
SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH			
BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE			
EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF,			
S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH			
BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			

EXHIBIT 3C - EXPANSION PARCEL 410:			
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA,			
LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A			
DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY,			
S.89°55'02"E., A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST			
1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH			
BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY			
OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A			
DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF			
36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A			
DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING.			
CONTAINING 9.911 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
EXHIBITS 3A, 3B, 3C - LEGAL DESCRIPTION			
OF EXPANSION / CONTRACTION PARCELS			
SCENIC TERRACE SOUTH CDD			
	DATE: 5/16/2023		
SCENIC TERRACE SOUTH CDD			
A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS			
FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A			
DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING;			
THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2,			
PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH			
89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17,			
AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF			
641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF			
THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE			
SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE			
44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST			
1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF			
THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF			
HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT			
OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE			
SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH			
RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET			
OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF			
400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4			
OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID			
NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID			
DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH			
RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH			
89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET; NORTH 89°57'44"			
WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET; NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST,			
109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST			
ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN			
NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST			
RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN			
SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF			
THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON			
THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH			
03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD;			
THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40			
FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH			
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE			
EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF			
1314.71 FEET TO THE POINT OF BEGINNING.			
ADDITIONALLY: THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY,			
FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1,			
PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH			
BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST			
MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET; 2) S.00°34'41"E., A DISTANCE OF 200.00 FEET;			
3) S.00°51'52"E., A DISTANCE OF 200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE			
NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES,			
MORE OR LESS.			
CONTAINING 206.541 ACRES, MORE OR LESS.			
ADDITIONALLY:			
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9,			
TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:			
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF			
1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF			
661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING;			
THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST			
1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE			
NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH			
BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF			
BEGINNING.			
CONTAINING 20.271 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (1)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	
LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY			
DESCRIBED AS FOLLOWS:			
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH			
BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST			
RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION			
RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE			
DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET;			
THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF			
200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST			
BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.			

LESS DESCRIPTION:			
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING			
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE			
WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY,			
N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17),			
ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY			
MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY			
PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF			
BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE			
OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF			
152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE			
S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65			
FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT			
OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF 216.86 FEET			
TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.			

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.			
SECTS 9 & 10, T27S, R28E			
	EXHIBIT 4 - LEGAL DESCRIPTION OF		
	AMENDED DISTRICT (2)		
	SCENIC TERRACE SOUTH CDD		
		DATE: 5/16/2023	

AMENDED DISTRICT BOUNDARY

Lake Hamilton Zoning
AG - Agricultural
R-5 - Single Family, Modular RMF - Multi-Family
C-1 - Highway Commercial C-2 - Limited Commercial M-1 - Industrial
PI - Public Institutional
Parks
CON - Conservation
Haines City Zoning
R-1-AAA - Residential R-1-AA - Residential IP - Industrial Park
CG - General Commercial CP - Commercial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - EXISTING LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

AMENDED DISTRICT BOUNDARY

Lake Hamilton Future Land Use
AG - Agricultural
RES-M - Residential Lands - M CS - Commercial/Service
IL - Industrial-Light
PBG - Public Buildings and Grounds PARK - Parks
CON - Conservation Lands Unassigned

Polk County Future Land Use
A/RR - Agricultural/Rural INST - Institutional
RL-1 - Residential Low

Haines City Future Land Use
CP - Commercial IP - Industrial Park

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

COMPOSITE EXHIBIT 5 - FUTURE LAND USE MAP
SCENIC TERRACE SOUTH CDD

0'	500'

1000'
DATE: 5/16/2023

EXISTING 16" WATER MAIN
12" FORCE MAIN TO BE
CONSTRUCTED; TIE-IN AT
MANHOLE AT INTERSECTION OF DETOUR ROAD AND BANNON ISLAND ROAD

AMENDED DISTRICT BOUNDARY

AMENDED DISTRICT BOUNDARY

SECTS 9 & 10, T27S, R28E

EXHIBIT 6 - DRAINAGE AND UTILITIES SCENIC TERRACE SOUTH CDD

0'	500'

1000'

DATE: 5/16/2023
Scenic Terrace South CDD
Composite Exhibit 7A - Summary of Proposed District Facilities

District Infrastructure	
Construction	
Ownership	
Capital Financing*	Operation and Maintenance	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	Lake Hamilton	District Bonds	Lake Hamilton	
Street Lighting	District	District	District Bonds	District/Duke Energy	
Onsite Road Construction	District	District	District Bonds	District	
Offsite Road Construction	District	Lake Hamilton	District Bonds	Lake Hamilton/Polk
County	
Entry Feature & Signage	District	District	District Bonds	District	
Recreation Facilities/Amenities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.

Facility	Phase 1
434 Lots
2021-2023
Existing Phase	Phase 2
198 Lots
2021-2023
Existing Phase	Phase 3
112 Lots
2023-2024
Existing Phase	Phase 4
99 Lots
2023-2024
Expansion Phase	
Total Lots (843 Lots)	
Earthwork	$	1,454,030	$	891,179	$	353,041.92	$	312,063.84	$	3,010,315	
Roadway	$	2,797,550	$	1,714,627	$	679,252.00	$	600,410.25	$	5,791,839	
Stormwater System	$	2,147,198	$	1,316,025	$	521,345.44	$	460,832.13	$	4,445,401	
Wastewater System	$	2,213,168	$	1,356,458	$	537,362.56	$	474,990.12	$	4,581,979	
Potable Water Distribution System	$	1,253,457	$	768,248	$	304,343.20	$	269,017.65	$	2,595,066	
Reclaimed Water Distribution System	$	801,396	$	491,178	$	194,580.96	$	171,995.67	$	1,659,151	
Electrical Undergrounding	$	1,095,850	$	671,650	$	266,075.04	$	235,191.33	$	2,268,766	
Landscape & Hardscape	$	1,342,223	$	822,653	$	325,895.36	$	288,068.22	$	2,778,840	
Amenitites (Cabana, Tot Lots, and Recreation Areas)	$	930,000	$	570,000	$	225,806.56	$	199,596.87	$	1,925,403	
Offsite Improvements	$	1,122,897	$	1,122,897	$  1,122,897.25	$  1,122,897.25	$	4,491,589	

Subtotal	
$	15,157,769	
$	9,724,915	
$	4,530,600	
$	4,135,063	
$	33,548,348	
Professional Fees (10%)					$	3,354,835	

Subtotal					
$	36,903,183	
Contingency (10%)					$	3,690,318	

Total					
$	40,593,501	

Notes:
Infrastructure consists of public roadway improvements, Stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and public neighborhood parks, all of which will be located on land owned by or subject to a permanent easement in favor of the District or another governmental entity.
Excludes grading of each lot in conjunction with home construction, which will be provided by home builder.
Includes Stormwater pond excavation. Does not include the cost of transportation of fill for use of private lots.
Includes sub‐grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Stormwater does not include grading associated with building pads.
Estimates are based on 2023 cost.
Includes entry features, signage, hardscape, landscape, irrigation and fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Includes only the incremental cost of undergrounding.
Estimates based on 843 lots.
The costs associated with the infrastructure are a master cost and is effectively shared by the entire project (All phases).

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OVERALL DRAINAGE AREA MAP SCENIC TERRACE SUBDIVISION
SCENIC HIGHWAY SOUTH, LAKE HAMILTON
POLK COUNTY, FLORIDA
J1alABSOLUTE
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Section D

COLLATERAL ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT RIGHTS RELATING TO THE SERIES 2023 PROJECT

This  Collateral  Assignment  and  Assumption  of  Development  Rights
Relating to the Series 2023 Project (“Assignment”) is made this 	 day of 	
2023, by and between (together, the “Parties”):
Scenic Terrace South Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the Town of Lake Hamilton, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 (the “District”), and

ST DEV PARTNERS, LLC, a Florida limited liability company, the Developer and owner of certain lands within the District, with a mailing address of 346 E. Central Avenue, Winter Haven, Florida 33880, and its successors and assigns (“Developer” or “Landowner”).

RECITALS

WHEREAS, Landowner is the owner of the real property within the District as more particularly described in Exhibit A, attached hereto and incorporated herein (“Series 2023 Assessment Area”); and

Whereas, the District proposes to issue its $	 Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 Project) (“Series 2023 Bonds”), to finance certain improvements which will benefit all the Series 2023 Assessment Area; and

Whereas, among the security for the repayment of the Series 2023 Bonds are the debt special assessments levied against the Series 2023 Assessment Area (“Series 2023 Assessments”); and

Whereas, the Parties intend that the Series 2023 Assessment Area will be platted and fully developed into a total of 99 residential units (“Lots”), and the Lots will be ultimately owned by homebuilders or end users, unrelated to the Landowner or its affiliated entities (“Development Completion”), as contemplated by the Amended and Restated Master Assessment Methodology,
dated May 17, 2023, as supplemented by that Supplemental Assessment Methodology, dated
	, 2023	(together, the “Assessment Report”), all of such Lots and associated improvements being referred to herein as the “Development”; and
Whereas, the Development, which is being partially financed with the proceeds of the Series 2023 Bonds is described as “Series 2023” in the Scenic Terrace South Community Development District Engineer’s Report-Amended and Restated, dated May 16, 2023 (the “Engineer’s Report”), and is referred to as the “Series 2023 Project”; and
Whereas, In addition to the Series 2023 Project components, Developer is obligated to fund or complete certain additional off-site improvements including wastewater treatment facilities, water lines, re-use water lines, sewer lines, drainage systems together with any other improvement, exaction, or contribution required to be made by Developer and necessary for the full utilization of the lot owners’ property, whether or not included in an approved plan, development order, or other agreement between the Developer and the Town, defined below, (“Developer Obligations”); and

Whereas, in the event of default in the payment of the Series 2023 Assessments securing the Series 2023 Bonds, or in the payment of a True-Up Obligation (as defined in the Agreement between the Scenic Terrace Community Development District and Atlantic Blue Communities II, LLC Regarding True-Up as to Series 2023 Assessments, dated 	, 2023), or in the event of any other Event of Default (as defined herein), the District requires, in addition to the remedies afforded the District under the Master Trust Indenture dated as of April 1, 2022 (the “Master Indenture”), as supplemented by that Second Supplemental Trust Indenture dated as of 	, 2023 (the “Second Supplemental Indenture”; together with the Master Indenture, the “Indenture”), pursuant to which the Series 2023 Bonds are being issued, and the other Agreements being entered into by Landowner concurrent herewith with respect to the Series 2023 Bonds and the Series 2023 Assessments (the Indentures and Agreements being referred to collectively as (the “Bond Documents”) and such remedies being referred to collectively as (the “Remedial Rights”), certain remedies with respect to the Development Rights (defined below) in order to complete or enable a third party to complete development of the Series 2023 Project.

Now, therefore, based upon good and valuable consideration and the mutual covenants of the Parties, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

Recitals. The recitals stated above are true and correct and by this reference are incorporated herein and form a material part of this Agreement.

Collateral Assignment.

Subject to the terms and conditions of this Assignment, Landowner hereby collaterally assigns to the District, to the extent assignable, all of Landowner’s development rights, permits, entitlements, impact fees or other credits, and work product relating to development of Series 2023 Project, the Developer Obligations, and
Landowner’s rights as declarant of any property owner or homeowner association with respect to Series 2023 Project (collectively, the “Development Rights”), as security for Landowner’s payment and performance of all of its obligations arising under the Bond Documents, including, without limitation, payment of the Series 2023 Assessments levied against Series 2023 Project that is owned by Landowner, its successors and assigns, and any True-Up Obligation. The Development Rights shall include, without limitation, the items listed in subsections (i) through (viii) below as they pertain to development of the Series 2023 Project, but shall specifically exclude any portion of the Development Rights which relate solely to (x) Lots which have been or are conveyed to homebuilders unaffiliated with the Landowner or homebuyers effective as of such conveyance, or (y) any portion of Series 2023 Project which has been transferred, dedicated and/or conveyed, or is in the future conveyed, to the Town of Lake Hamilton, Florida (the “Town”), Polk County (the “County”), the District, any utility provider, governmental or quasi-governmental entity, any homeowner’s or property owner’s association or other governing entity or association as may be required by applicable permits, approvals, plats or entitlements or regulations affecting the District, if any, in each case effective as of such transfer, conveyance and/or dedication, as applicable:

Zoning approvals, density approvals and entitlements, concurrency and capacity certificates, and development assignments;

Engineering and construction plans and specifications for grading, roadways, site drainage, storm water drainage, signage, water distribution, wastewater collection, recreational facilities and other improvements;

Preliminary and final site plans and plats;

Architectural plans and specifications for recreational buildings and other improvements to the developable property within the District;

Permits, approvals, resolutions, variances, licenses, and franchises granted by governmental authorities, or any of their respective agencies, for or affecting the Series 2023 Project or the construction of improvements within Series 2023 Project, or off-site to the extent such off-site improvements are necessary or required to complete the Series 2023 Project;

Contracts with engineers, architects, land planners, landscape architects, consultants, contractors, and suppliers for or relating to the construction of the Series 2023 Project or the construction of improvements within Series 2023 Project;

All prepaid or future impact fees and impact fee credits; and

All future creations, changes, extensions, revisions, modifications, substitutions, and replacements of any of the foregoing.
This Assignment is not intended to and shall not impair or interfere with the development of the Series 2023 Project, including, without limitation, Landowner’s contracts with homebuilders, if any, and end users (collectively, “Sales Contracts”), and shall only be inchoate and shall become an effective and absolute assignment and assumption of the Development Rights, from time to time, only upon the District’s exercise of its rights hereunder upon a failure of Landowner to pay the Series 2023 Assessments levied against the portion of Series 2023 Assessment Area owned by Landowner, from time to time, failure of Landowner to satisfy a True-Up Obligation, or any other Event of Default hereunder. The District shall not be deemed to have assumed any obligations associated with the Development Rights unless and until the District exercises its rights under this Assignment, and then only to the extent of such exercise.

If this Assignment has not become absolute, it shall automatically terminate upon the earliest to occur of the following events: (i) payment in full of the principal and interest associated with the Series 2023 Bonds; (ii) Development Completion; (iii) transfer of any Development Rights to the Town, the County, the State, the District, any utility provider, any other governmental or quasi-governmental entity, or any homeowners’ or property owner’s association but only to the extent of such transfer; or (iv) transfer of any portion of Series 2023 Project to an unaffiliated homebuilder or end user but only as to such portion transferred, from time to time.

Warranties by Landowner.	Landowner represents and warrants to the District that:

Landowner is not prohibited under any agreement with any other person or under any judgment or decree from the execution, delivery and performance of this Assignment.
No action has been brought or threatened which would in any way interfere with the right of Landowner to execute this Assignment and perform all of Landowner’s obligations herein contained.

Any transfer, conveyance or sale of the Series 2023 Project shall subject any and all affiliates or successors-in-interest of Landowner as to the Series 2023 Project or any portion thereof, to this Assignment to the extent of the portion of the Series 2023 Project so conveyed, except to the extent described in Section 2 above.

Covenants.	Landowner covenants with the District that for so long as this Assignment shall remain in effect pursuant to the terms hereof:

Landowner will use reasonable, good faith efforts to (i) fulfill, perform, and observe each and every material condition and covenant of Landowner relating to the Development Rights, (ii) provide for the funding and completion of the Developer Obligations, and (iii) give notice to District of any default with respect to any of the Development Rights.
The Development Rights include all of Landowner’s rights to modify the Development Rights, to terminate the Development Rights, and to waive or release the performance or observance of any obligation or condition of the Development Rights; provided, however, that this Assignment does not and shall not (i) pertain to lands outside of the District not relating or necessary to development of the Series 2023 Project, or (ii) limit Landowner’s right, from time to time, to modify, waive or release the Development Rights, subject to Section 3(c) below and Landowner’s obligations under the Bond Documents.

Landowner agrees not to take any action that would decrease the development entitlements to a level below the amount necessary to support the then- outstanding Series 2023 Assessments or would materially impair or impede the ability to achieve Development Completion.

Events of Default. Any breach of Landowner’s warranties contained in Section 3 hereof, any breach of covenants contained in Section 3 hereof which is not cured within sixty (60) days after receipt of written notice thereof, or any breach of Landowner under any other Bond Documents, which default is not cured within any applicable cure period, will constitute an “Event of Default”, under this Assignment.

Remedies Upon Default. Upon an Event of Default, or the transfer of title to any portion of Series 2023 Project owned by Landowner to the District or its designee pursuant to a judgment of foreclosure entered by a court of competent jurisdiction or a deed in lieu of foreclosure to the District or its designee or the acquisition of title to such property through the sale of tax certificates, the District may, as the District’s sole and exclusive remedies under this Assignment, take any or all of the following actions, at the District’s option:
Perform or cause to be performed any and all obligations of Landowner relating to the Development Rights and exercise or cause to be exercised any and all rights of Landowner therein as fully as Landowner could;

Initiate, appear in, or defend any action arising out of or affecting the Development Rights; and,

Further assign any and all of the Development Rights to a third-party acquiring title to the Series 2023 Project or any portion thereof from the District or at a District foreclosure sale.

Authorization in Event of Default. In the Event of Default, Landowner does hereby authorize and shall direct any party to any agreements relating to the Development Rights to tender performance thereunder to the District upon written notice and request from the District. Any such performance in favor of the District shall constitute a full release and discharge to the extent of such performance as fully as though made directly to Landowner. Notwithstanding the foregoing or anything to the contrary set forth in this Assignment, no exercise by the District or the District’s rights under this Assignment shall operate to release Landowner from its obligations under this Assignment.
Attorneys’ Fees and Costs. In the event that any Party is required to enforce this Assignment by court proceedings or otherwise, then the Parties agree that the substantially prevailing party shall be entitled to recover from the other(s) all fees and costs incurred, including reasonable attorneys’ fees and costs for trial, alternative dispute resolution, or appellate proceedings.

AUTHORIZATION. The execution of this Assignment has been duly authorized by the appropriate body or official of the Parties; the Parties have complied with all the requirements of law; and the Parties have full power and authority to comply with the terms and provisions of this instrument.
NOTICES. All notices, requests, consents and other communications under this Assignment (“Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the Parties, at the addresses first set forth above. Except as otherwise provided in this Assignment, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Assignment would otherwise expire on a non- business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel for the Landowner may deliver Notice on behalf of the District and the Landowner, respectively. Any Party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the Parties and addressees set forth herein.

Arm’s Length Transaction. This Assignment has been negotiated fully between the Parties as an arm’s length transaction. Both Parties participated fully in the preparation of this Assignment and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Assignment, both Parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either the District or the Landowner.
Third Party Beneficiaries. The Parties hereto agree that the trustee under the Indenture (“Trustee”), on behalf of the bondholders, shall be a direct third-party beneficiary of the terms and conditions of this Assignment and entitled to enforce Landowner’s obligations hereunder at the direction of the bondholders owning more than 50% of the aggregate principal amount of the Series 2023 Bonds then outstanding. The Trustee shall not be deemed by virtue of this Assignment to have assumed any obligations or duties.
AMENDMENT. This Assignment may be amended by an instrument in writing executed by all of the Parties hereto, but only with the written consent of the Trustee acting at the direction of bondholders owning more than 50% of the aggregate principal amount of the applicable Series 2023 Bonds then outstanding with respect to amendments having a material effect on the District’s ability to pay debt service on the Series 2023 Bonds.
MISCELLANEOUS. Unless the context requires otherwise, whenever used herein, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. The terms “person” and “party” shall include individuals, firms, associations, joint ventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups and combinations. Titles of paragraphs contained herein are inserted only as a matter of convenience and for reference and in no way define, limit, extend, or describe the scope of this Assignment or the intent of any provisions hereunder. This Assignment shall be construed under Florida law.

Applicable Law and Venue. This Assignment and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each party consents that the exclusive venue for any litigation arising out of or related to this Assignment shall be in a court of appropriate jurisdiction, in and for Polk County, Florida.

PUBLIC RECORDS. The Landowner understands and agrees that all documents of any kind provided to the District in connection with this Assignment may be public records and treated as such in accordance with Florida law.
SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Assignment shall not affect the validity or enforceability of the remaining portions of this Assignment, or any part of this Assignment not held to be invalid or unenforceable.

Limitations on Governmental Liability. Nothing in this Assignment shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in section 768.28, Florida Statutes, or other law, and nothing in this Assignment shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred by sovereign immunity or by other operation of law.

Headings for Convenience Only. The descriptive headings in this Assignment are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Assignment.
Counterparts. This instrument may be executed in any number of counterparts, each of which when executed and delivered shall constitute an original, and such counterparts together shall constitute one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[Remainder of this page left intentionally blank]
In witness whereof, Landowner and the District have caused this Assignment to be executed and delivered on the day and year first written above.

WITNESSES:	ST DEV PARTNERS, LLC, a Florida
limited liability company

By: Albert S. Cassidy

[Print Name]	Its: Manager

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this   day of 	, 2023, by Albert S. Cassidy as Manager of ST Dev Partners, LLC on behalf of the company.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	
WITNESSES:	SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Warren K. (Rennie) Heath II

[Print Name]	Chairperson, Board of Supervisors

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization this   day of 	 2023, by Warren K. (Rennie) Heath II, as Chairperson of the Board of Supervisors of the Scenic Terrace South Community Development District.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	

Exhibit A:	Legal Description of the Series 2023 Assessment Area
Exhibit A
Legal Description of Series 2023 Assessment Area

Section E

DECLARATION OF CONSENT TO JURISDICTION OF
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AND TO IMPOSITION OF SPECIAL ASSESSMENTS

(SERIES 2023 SPECIAL ASSESSMENTS)

ST DEV PARTNERS, LLC, (the “Series 2023 Landowner” or “Landowner”), is the owner of those lands as more particularly described in Exhibit A attached hereto (the “Series 2023 Assessment Area” or “Property”), located within the boundaries of the Scenic Terrace South Community Development District (the “District”). The Landowner, intending that it and its successors in interest and assigns shall be legally bound by this Declaration, hereby declares, acknowledges and agrees as follows:
The District is, and has been at all times, on and after October 5, 2021, a legally created, duly organized, and validly existing community development district under the provisions of Chapter 190, Florida Statutes, as amended (the “Act”). Without limiting the generality of the foregoing, the Landowner acknowledges that: (a) the petition filed with the Town Commission of the Town of Lake Hamilton, Florida (“Town”), relating to the creation of the District contained all matters required by the Act to be contained therein and was filed in the manner and by the persons required by the Act; (b) Ordinance No. O-21-19, effective as of October 5, 2021, amended by Ordinance No. O-23-05, effective as of May 2, 2023 (together, the “Ordinance”), were duly and properly adopted by the Town in compliance with all applicable requirements of law; (c) the members of the Board of Supervisors of the District were and are duly and properly designated and/or elected pursuant to the Act to serve in their official capacities and had the authority and right to authorize, approve and undertake all actions of the District approved and undertaken from October 5, 2021, to and including the date of this Declaration.

The Landowner, for itself and its heirs, successors and assigns, hereby confirms and agrees, that the special assessments (“Special Assessments”) imposed by, but not limited to, Resolution Nos. 2023-05, 2023-06, 2023-11 and 2023-  (collectively, the “Assessment Resolutions”), duly adopted by the Board of Supervisors of the District (the “Board”), and all proceedings undertaken by the District with respect thereto have been in accordance with applicable Florida law, that the District has taken all action necessary to levy and impose the Special Assessments, and the Special Assessments are legal, valid and binding first liens upon
the Property co-equal with the lien of all state, county, district and municipal taxes, superior in dignity to all other liens, titles and claims, until paid.

The Landowner, for itself and its heirs, successors and assigns, hereby waives the right granted in Chapter 170.09, Florida Statutes, to prepay the Special Assessments without interest within thirty (30) days after the improvements are completed, in consideration of the rights granted by the District to prepay the Special Assessments in full or in part at any time, but with interest, under the circumstances set forth in the Assessment Resolutions of the District levying the Special Assessments.

The Landowner hereby expressly acknowledges, represents and agrees that (i) the Special Assessments, the Assessment Resolutions, and the terms of the financing documents related to the District’s issuance of the Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023, (Series 2023 Project) in the principal amount of
$	 (the “Series 2023 Bonds”) or securing payment thereof and all other documents and certifications relating to the issuance of the Special Assessment Bonds (the “Financing Documents”), are valid and binding obligations enforceable in accordance with their terms; (ii) there are no claims or offsets whatsoever against, or defenses or counterclaims whatsoever to, payments of the Special Assessments or claims of invalidity, deficiency or unenforceability of the Special Assessments and Financing Documents (and the Landowner hereby expressly waives any such claims, offsets, defenses or counterclaims); (iii) the Landowner expressly waives and relinquishes any argument, claim or defense that foreclosure proceedings cannot be commenced until one (1) year after the date of the Landowner’s default and agrees that, immediate use of remedies in Chapter 170, Florida Statutes, is an appropriate and available remedy, notwithstanding the provisions of Section 190.026, Florida Statutes; (iv) to the extent Landowner fails to timely pay any Special Assessments collected by mailed notice of the District, such unpaid Special Assessments and future Special Assessments may be placed on the tax roll by the District for collection by the Tax Collector pursuant to Section 197.3632, Florida Statutes, in any subsequent year; and (v) any and all rights to challenge the validity of any argument, claim or defense resulting from any defect or omission of any and all District notices, meetings, workshops, public hearings and other proceedings in relation to the Series 2023 Special Assessments or the Series 2023 Bonds that were conducted on or prior to the date hereof whether pursuant to Florida law or any waiver of Florida law granted in said Executive Order, including any extensions thereof.

This Declaration shall represent a lien of record and covenant running with the land in perpetuity and for purposes of Chapter 197, Florida Statutes, including, without limitation, Section 197.573, Florida Statutes. Other information regarding the Special Assessments is available from the District Manager (Governmental Management Services – Central Florida, LLC), 219 Livingston Street, Orlando, Florida 32801.

THE DECLARATIONS, ACKNOWLEDGEMENTS AND AGREEMENTS CONTAINED HEREIN SHALL BE BINDING ON THE LANDOWNER AND ON ALL PERSONS (INCLUDING CORPORATIONS, ASSOCIATIONS, TRUSTS AND OTHER LEGAL ENTITIES) TAKING TITLE TO ALL OR ANY PART OF THE PROPERTY, AND THEIR SUCCESSORS IN INTEREST, WHETHER OR NOT THE PROPERTY IS PLATTED AT SUCH TIME. BY TAKING SUCH TITLE, SUCH PERSONS SHALL BE DEEMED TO
HAVE CONSENTED AND AGREED TO THE PROVISIONS OF THIS DECLARATION TO THE SAME EXTENT AS IF THEY HAD EXECUTED IT AND BY TAKING SUCH TITLE, SUCH PERSONS SHALL BE ESTOPPED FROM CONTESTING, IN COURT OR OTHERWISE, THE VALIDITY, LEGALITY AND ENFORCEABILITY OF THIS DECLARATION.

Effective this 	 day of 	 2023.

In witness whereof, Developer and the District have caused this Assignment to be executed and delivered on the day and year first written above.

WITNESSES:	ST DEV PARTNERS LLC,
a Florida Limited Liability Company

By: Albert S. Cassidy

[Print Name]	Its: Manager

[Print Name]

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this    day of     2023, by Albert S. Cassidy as Manager of ST Dev Partners LLC on behalf of the company.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	
Exhibit A

Section F

Notice of Lien of Special Assessments for
Scenic Terrace South Community Development District Special Assessment Bonds, Series 2023 (Series 2023 project)

PLEASE TAKE NOTICE that the Board of Supervisors of the Scenic Terrace South Community Development District (the “District”), in accordance with Chapters 170, 190, and 197, Florida Statutes, adopted Resolution Nos. 2023-05, 2023-06, 2023-11 and 2023-  (the “Assessment Resolutions”), confirming and certifying the lien of non ad-valorem special assessments on certain real property located within the boundaries of the District that will be specially benefitted by the Series 2023 Project, described in such Assessment Resolutions. Said assessments are pledged to secure the Scenic Terrace South Community Development District, Special Assessment Bonds, Series 2023 (Series 2023 Project). The legal description of the lands on which said special assessments are imposed is attached to this Notice (the “Notice”), as Exhibit A. The special assessments are imposed on benefitted property within the District as described in the Amended and Restated Master Assessment Methodology, dated May 17, 2023, as supplemented by that Supplemental Assessment Methodology, dated 	, 2023 (“Supplemental Methodology”, and together with the Master Methodology, the “Assessment Report”) approved by the District. A copy of the Assessment Report and the Assessment Resolutions may be obtained by contacting the Scenic Terrace South Community Development District, c/o Governmental Management Services Central Florida, LLC, 219 East Livingston Street; Orlando, Florida 32801, Ph.: 407-841-5524. The non ad-valorem special assessments provided for in the Assessment Resolutions were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and these non-ad valorem special assessments constitute and will at all relevant times in the future constitute, legal, valid,
and binding first liens on the land against which assessed until paid, coequal with the lien of all state, county, district, and municipal taxes, and superior in dignity to all other liens, titles, and claims.
The District is a special purpose form of local government established pursuant to and governed by Chapter 190, Florida Statutes. Pursuant to Section 190.048, Florida Statutes, you are hereby notified that: THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND ASSESSMENTS PROVIDED FOR BY LAW.

[Signature page follows]
IN WITNESS WHEREOF, this Notice has been executed on the 	 day of 	 2023, and recorded in the Official Records of Polk County, Florida.

Scenic Terrace South
Community Development District

Secretary/Assistant Secretary	Warren K. (Rennie) Heath II Chairperson, Board of Supervisors

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this   day of	, 2023, by Warren K. (Rennie) Heath II as Chairperson of Scenic Terrace South Community Development District.

(Official Notary Signature & Seal)
Name: 		 Personally Known 		 OR Produced Identification 		 Type of Identification 	

Exhibit A:	Legal Description of the Series 2023 Project

3
Exhibit A - Legal Description of Lands Subject to Series 2023 Assessments

Exhibit A

Section IX

lftlilbonds
Municipal Bond Specialists

August 4, 2023

Scenic Terrace South Community Development District
c/o Governmental Management Services - Central Florida, LLC 219 E. Livingston Street
Orlando, Florida 32801 Attn: Ms. Jill Burns

Re: Scenic Terrace South CDD, Series 2023 Bonds Dear Ms. Bums:
We are writing to provide you, as the Scenic Terrace South Community Development District (the "Issuer"), with certain disclosures relating to the captioned bond issue (the "Bonds"), as required by the Municipal Securities Rulemaking Board (MSRB) Rule G-17 Disclosure, as set fo11h in the amended and restated MSRB Notice 2019-20 (November 8, 2019)1 (the "Notice"). We ask that you provide this letter to the appropriate person at the Issuer.
The Issuer recognizes that FMSbonds, Inc. will serve as the underwriter (the "Underwriter") and not as a financial advisor or municipal advisor, in connection with the issuance of the bonds relating to this financing (herein, the 'Bonds"). As part of our services as Underwriter, FMSbonds, Inc. may provide advice concerning the structure, timing, terms, and other similar matters concerning the issuance of the Bonds. Any such advice, if given, will be provided by FMSbonds, Inc. as Underwriter and not as your financial advisor or municipal advisor in this transaction. The Issuer may choose to engage the services of a municipal advisor with a fiduciary obligation to represent the Issuer's interest in this transaction.

The specific parameters under which FMS will underwrite the Bonds will be set forth in a Bond Resolution adopted by the Board.

Pursuant to the Notice, we are required by the MSRB to advise you that:

	MSRB Rule G-17 requires a broker to deal fairly at all times with both municipal issuers and investors.

1 Interpretive Notice Concerning the Application of MSRB Rule G-17 to underwriters and Underwriters of Municipal Securities (effective March 31, 2021).
The Underwriter's primary role is to purchase the Bonds in an arm's-length commercial transaction with the Issuer. As such, the Underwriter has financial and other interests that differ from those of the Issuer.

	Unlike a municipal advisor, the Underwriter does not have a fiduciary duty to the Issuer under the federal securities laws and is, therefore, not required by federal law to act in the best interests of the Issuer without regard to its own financial or other interests.

The Underwriter has a duty to purchase the Bonds from the Issuer at a fair and reasonable price, but must balance that duty with its duty to use its best efforts to resell the Bonds with purchases at prices that are fair and reasonable.

	The Bonds may be sold into a trust either at the time of issuance or subsequent to issuance. In such instance FMSbonds, Inc., not in its capacity of Underwriter, may paiiicipate in such trust arrangement by performing certain administrative roles. Any compensation paid to FMSbonds, Inc. would not be derived from the proceeds of the Bonds or from the revenues pledged thereunder.

The Underwriter will be compensated in accordance with the terms of a bond purchase contract by and between the Underwriter and Issuer. Payment or receipt of the Underwriter's compensation will be contingent on the closing of the transaction. While this form of compensation is customary in the municipal securities market, it presents a conflict of interest since an Underwriter may have an incentive to recommend a transaction that is unnecessary or to recommend that the size of a transaction be larger than is necessary. The Issuer acknowledges no such recommendation has been made by the Underwriter.

Please note nothing in this letter is an expressed or an implied commitment by us to provide financing or to place or purchase the Bonds. Any such commitment shall only be set forth in a bond purchase contract or other appropriate form of agreement for the type of transaction undertaken by you.

Further, our participation in any transaction (contemplated herein or otherwise) remains subject to, among other things, the execution of a bond purchase contract (or other appropriate form of agreement), further internal review and approvals, satisfactory completion of our due diligence investigation and market conditions.
FMSbonds, Inc. is acting independently in seeking to act as Underwriter in the transaction contemplated herein and shall not be deemed for any purpose to be acting as an agent, joint venturer or partner of any other principal involved in the proposed financing. FMSbonds, Inc. assumes no responsibility, express or implied, for any actions or omissions of, or the performance of services by, the purchasers or any other brokers in connection with the transactions contemplated herein or otherwise.

If you or any other representative of the Issuer have any questions or concerns about these disclosures, please make those questions or concerns known immediately to the undersigned. In addition, you should consult with your own financial, municipal, legal,
accounting, tax and other advisors, as applicable, to the extent deemed appropriate.

The MSRB requires that we seek the Issuer's acknowledgement that it has received this letter. We request that the person at the Issuer who has the authority to bind the Issuer (herein, "Authorized Issuer Representative") acknowledge this letter as soon as practicable and by nature of such acknowledgment that such person is not a party to any conflict of interest relating to the subject transaction. If our understanding is inconect, please notify the undersigned immediately.
Depending on the structure of the transaction that the Issuer decides to pursue, or if additional actual or perceived material conflicts are identified, we may be required to send you additional disclosures. At that time, we also will seek your acknowledgement of receipt of any such additional disclosures.

We look forward to working with you in connection with the issuance of the Bonds, and we appreciate the opportunity to assist you in this transaction. Thank you.

FMSbonds, Inc.

By:
Name:
Title:	or

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

By:		

Section X
RESOLUTION 2023-17

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT RATIFYING, CONFIRMING, AND APPROVING THE ACTIONS OF THE CHAIRPERSON, VICE CHAIRPERSON, SECRETARY, ASSISTANT SECRETARIES, AND ALL DISTRICT STAFF REGARDING THE SALE AND CLOSING OF $22,350,000 SCENIC	TERRACE	SOUTH	COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2022 (SERIES 2022 PROJECT); PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Scenic Terrace South Community Development District (the “District”) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, located in the Town of Lake Hamilton, Florida; and

WHEREAS, the District previously adopted Resolution No. 2022-26 and Resolution No. 2022-39 on October 13, 2021 and February 16, 2022, respectively (collectively, the “Bond Resolution”), authorizing the issuance of $22,350,000 Scenic Terrace South Community Development District Special Assessment Bonds, Series 2022 (Series 2022 Project) (the “Series 2022 Bonds”), for the purpose of financing a portion of the acquisition and/or construction of the District’s “Series 2022 Project”; and

WHEREAS, the District closed on the issuance of the Series 2022 Bonds on April 6, 2022;
and

WHEREAS, as prerequisites to the issuance of the Series 2022 Bonds, the Chairperson, Vice Chairperson, Treasurer, Secretary, Assistant Secretaries, and District staff including the District Manager, District Financial Advisor, District Counsel and Bond Counsel (the “District Staff”) were required to execute and deliver various documents (the “Closing Documents”); and

WHEREAS, the District desires to ratify, confirm, and approve all actions of the District Chairperson, Vice Chairperson, Treasurer, Secretary, Assistant Secretaries, and District Staff in closing on the issuance of the Series 2022 Bonds.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. The issuance of the Series 2022 Bonds, the adoption of resolutions relating to such bonds, and all actions taken in the furtherance of the closing on such bonds, are hereby declared and affirmed as being in the best interests of the District and are hereby ratified, approved, and confirmed by the Board of Supervisors of the District.
SECTION 2. The actions of the Chairperson, Vice Chairperson, Treasurer, Secretary, Assistant Secretaries, and all District Staff in finalizing the closing and issuance of the Series 2022 Bonds, including the execution and delivery of the Closing Documents, and such other certifications or other documents required for the closing on the Series 2022 Bonds, are determined to be in accordance with the prior authorizations of the Board and are hereby ratified, approved, and confirmed in all respects.

SECTION 3. If any provision of this Resolution is held to be illegal or invalid, the other provisions shall remain in full force and effect.

SECTION 4. This Resolution shall become effective upon its adoption.

PASSED AND ADOPTED this 16th day of August 2023.

ATTEST:	SCENIC TERRACE SOUTH
COMMUNITY DEVELOPMENT DISTRICT

Secretary	Chairperson, Board of Supervisors

2

Section XI

Notice of Lien of Special Assessments for
Scenic Terrace South Community Development District Special Assessment Bonds, Series 2022 (Series 2022 project)

PLEASE TAKE NOTICE that the Board of Supervisors of the Scenic Terrace South Community Development District (the “District”), in accordance with Chapters 170, 190, and 197, Florida Statutes, adopted Resolution Nos. 2022-27, 2022-28, 2022-34 and 2022-41 (the “Assessment Resolutions”), confirming and certifying the lien of non ad-valorem special assessments on certain real property located within the boundaries of the District that will be specially benefitted by the Series 2022 Project, described in such Assessment Resolutions. Said assessments are pledged to secure the Scenic Terrace South Community Development District, Special Assessment Bonds, Series 2022 (Series 2022 Project). The legal description of the lands on which said special assessments are imposed is attached to this Notice (the “Notice”), as Exhibit A. The special assessments are imposed on benefitted property within the District as described in the Master Assessment Methodology, dated October 13, 2021, as supplemented by that Supplemental Assessment Methodology, dated March 16, 2022 (“Supplemental Methodology”, and together with the Master Methodology, the “Assessment Report”) approved by the District. A copy of the Assessment Report and the Assessment Resolutions may be obtained by contacting the Scenic Terrace South Community Development District, c/o Governmental Management Services Central Florida, LLC, 219 East Livingston Street; Orlando, Florida 32801, Ph.: 407-841-5524. The non ad-valorem special assessments provided for in the Assessment Resolutions were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and these non-ad valorem special assessments constitute and will at all relevant times in the future constitute, legal, valid, and binding first liens on the
land against which assessed until paid, coequal with the lien of all state, county, district, and municipal taxes, and superior in dignity to all other liens, titles, and claims.
The District is a special purpose form of local government established pursuant to and governed by Chapter 190, Florida Statutes. Pursuant to Section 190.048, Florida Statutes, you are hereby notified that: THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND ASSESSMENTS PROVIDED FOR BY LAW.

[Signature page follows]
IN WITNESS WHEREOF, this Notice has been executed on the 16th day of August 2023, and recorded in the Official Records of Polk County, Florida.

Scenic Terrace South
Community Development District

Secretary/Assistant Secretary	Warren K. (Rennie) Heath II Chairperson, Board of Supervisors

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization this   day of	, 2023, by Warren K. (Rennie) Heath II as Chairperson of Scenic Terrace South Community Development District.

(Official Notary Signature & Seal)
Name: 		 Personally Known 		 OR Produced Identification 		 Type of Identification 	

Exhibit A:	Legal Description of the Series 2022 Project

3
Exhibit A - Legal Description of Lands Subject to Series 2022 Assessments

A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST,
1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF 1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET; SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59"
WEST, 300.01 FEET; NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET;
NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71
FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD; THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH 89°30'32" EAST, 100.00 FEET; SOUTH
89°37'24" EAST, 100.00 FEET; SOUTH 89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH 86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING.

ADDITIONALLY, FOR PARCEL 272809000000011020, SE1/4 OF NE1/4 OF NE1/4 LESS MAINT R/W.

LESS DESCRIPTION: A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT- OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF 530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.

CONTAINING 188.33 ACRES, MORE OR LESS.

Section XII
This Instrument Prepared by	This space reserved for use by the and return to:		Clerk of the Circuit Court

Roy Van Wyk
Kilinski ǀ Van Wyk, PLLC 517 E. College Avenue Tallahassee, Florida 32301

AMENDED AND RESTATED
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT NOTICE OF SPECIAL ASSESSMENTS AND GOVERNMENT LIEN OF RECORD1

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Scenic Terrace South Community Development District (the “District”), a unit of special-purpose local government established under and pursuant to Chapter 190, Florida Statutes, enjoys a governmental lien on certain lands contained within the real property known as the Scenic Terrace South Community Development District, and described in Exhibit A attached hereto (the “Property”). Such lien is coequal with the lien of all state, county, district and municipal taxes, superior in dignity to all other liens, titles and claims until paid pursuant to Section 170.09 of the Florida Statutes. The District has adopted Resolutions Nos. 2022-27, 2022-28, 2022-34, 2022-41, 2023-05, 2023-06, and 2023-11 (together, the “Assessment Resolutions”), which provide for, levy, and set forth the terms of the non-ad valorem special assessments on the Property (the “Scenic Terrace South Special Assessments”), which is specifically benefitted by the improvements anticipated to be financed with the proceeds of the District’s Special Assessment Bonds, or other indebtedness (collectively, the “Bonds”). As provided in the Assessment Resolutions, these non-ad valorem assessments do not apply to governmental properties dedicated by plats, deeds or otherwise, including rights of way.
The non-ad valorem special assessments provided for in the Assessment Resolutions were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and

1 The intent of this Notice is to amend and supplement the Scenic Terrace South Community Development District Notice of Lien of Special Assessments and Government Lien of Record, dated December 15, 2021 and recorded on December 28, 2021 in the Official Records Book 12046, Pages 1443-1447, inclusive, of the Official Records of Polk County, Florida.
these non-ad valorem special assessments constitute, and will at all relevant times in the future constitute, legal, valid, and binding first liens on the land against which assessed until paid, coequal with the liens of all state, county, district, and municipal taxes, and superior in dignity to all other liens, titles, and claims. The District may collect assessments on any of the lands described in the attached Exhibit A by any method authorized by law, which method may change from year to year.
The District is a special-purpose form of local government established pursuant to and governed by Chapter 190, Florida Statutes. Pursuant to section 190.048, Florida Statutes, you are hereby notified that: THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER
TAXES AND ASSESSMENTS PROVIDED FOR BY LAW. The District’s lien secures the payment of special assessments levied in accordance with Florida Statutes, which special assessments in turn secure the payment of the Bonds. Copies of the Amended and Restated Master Assessment Methodology, dated May 17, 2023, as supplemented from time to time, and the Assessment Resolutions may be obtained from the registered agent of the District as designated by the Florida Department of Commerce in accordance with Section 189.014, Florida Statutes, or by contacting the District at:
Scenic Terrace South Community Development District
c/o Governmental Management Services – Central Florida, LLC 219 East Livingston Street
Orlando, Florida 32801
(407) 841-5524

THE LIEN FOR THE SPECIAL ASSESSMENTS IS STATUTORY AND NO FILING IS NECESSARY IN ORDER TO PERFECT OR PROVIDE RECORD NOTICE THEREOF. THIS NOTICE IS FOR INFORMATION PURPOSES. IN ADDITION TO THE MINUTES, RECORDS
AND OTHER MATERIAL OF THE DISTRICT AVAILABLE FROM THE DISTRICT, THIS ALSO CONSTITUTES A LIEN OF RECORD FOR PURPOSES OF SECTION 197.573 OF THE FLORIDA STATUTES AND ALL OTHER APPLICABLE PROVISIONS OF THE FLORIDA STATUTES AND ANY OTHER APPLICABLE LAW.

[Signatures on following page]
IN WITNESS WHEREOF, this Notice has been executed as of the 16th day of August 2023, and recorded in the Official Records of Polk County, Florida.
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Chairperson, Board of Supervisors

Witness	Witness

Print Name	Print Name

STATE OF FLORIDA COUNTY OF 	

The foregoing instrument was acknowledged before me by means of ▢ physical presence or ▢ online notarization, this    day of August 2023, by Warren K. (Rennie) Heath II as Chairperson of the Board of Supervisors for the Scenic Terrace South Community Development District.

(Official Notary Signature)
Name: 	
Personally Known 	
[notary seal]	OR Produced Identification 	
Type of Identification 	
Exhibit A Legal Description

A PORTION OF LAND LYING IN SECTION 9 AND 10, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, THENCE RUN SOUTH 00°36'52" EAST ALONG THE WEST LINE OF THE NORTHEAST 1/4 FOR A DISTANCE OF 1371.46 FEET; THENCE DEPARTING SAID WEST LINE RUN NORTH 89°23'08" EAST FOR A DISTANCE OF 37.81 FEET TO THE POINT OF BEGINNING; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG THE SOUTH RIGHT OF WAY LINE OF WHITE CLAY PIT ROAD, AS RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156, PUBLIC RECORDS OF POLK COUNTY FLORIDA: NORTH 69°21'25" EAST, 47.30 FEET; SOUTH 89°17'17" EAST, 1240.44 FEET; NORTH 89°45'07" EAST, 1310.06 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF DETOUR ROAD, AS RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17, AFORESAID PUBLIC RECORDS OF POLK COUNTY FLORIDA; THENCE RUN SOUTH 00°40'51" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 641.71 FEET TO THE INTERSECTION OF SAID WEST LINE AND THE WESTERLY EXTENSION OF THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF AFORESAID SECTION 10; THENCE RUN NORTH 89°18'18" EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTH LINE OF QUAIL RIDGE POINTE, AS RECORDED IN PLAT BOOK 107, PAGE 44, SAID PUBLIC RECORDS FOR A DISTANCE OF 1336.30 FEET TO THE NORTHEAST CORNER OF SAID SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4, ALSO BEING THE SOUTHEAST CORNER OF SAID QUAIL RIDGE POINTE; THENCE RUN SOUTH 00°31'31" EAST ALONG THE EAST LINE OF THE SOUTH 1/2 OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 10 FOR A DISTANCE OF 692.63 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF HUGHES ROAD, RECORDED IN MAP BOOK 9, PAGES 12 THROUGH 30, SAID PUBLIC RECORDS; THENCE RUN NORTH 87°44' 17" EAST ALONG SAID SOUTH RIGHT OF WAY LINE FOR A DISTANCE OF 400.19 FEET TO A POINT ON THE EAST LINE OF THE WEST 400 FEET OF THE NORTH 990 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10, AS RECORDED IN OFFICIAL RECORDS BOOK 10582, PAGE 184, SAID PUBLIC RECORDS; THENCE DEPARTING SAID SOUTH RIGHT OF WAY LINE RUN SOUTH 00°30'19" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 975.04 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET; THENCE RUN SOUTH 89°13' 41" WEST ALONG THE SOUTH LINE OF SAID WEST 400 FEET OF THE NORTH 990 FEET FOR A DISTANCE OF 400.00 FEET TO THE SOUTHEAST CORNER OF SAID WEST 400 FEET OF THE NORTH 990 FEET ALSO BEING A POINT ON THE WEST LINE OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 00°30'19" WEST ALONG SAID WEST LINE FOR A DISTANCE OF 330.07 FEET TO THE SOUTHEAST CORNER OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SAID SECTION 10; THENCE RUN SOUTH 89°13'27" WEST ALONG THE SOUTH LINE OF SAID NORTH
1/2 OF THE NORTHWEST 1/4 OF THE SOUTHWEST 1/4 FOR A DISTANCE OF
1299.58 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID DETOUR ROAD; THENCE RUN NORTH 00°57'39" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 645.08 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF AFORESAID HUGHES ROAD; THENCE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°17'27" WEST, 54.09 FEET; NORTH 88°08'19" WEST, 78.74 FEET;
SOUTH 89°27'54" WEST, 100.02 FEET; NORTH 88°48'59" WEST, 300.01 FEET;
NORTH 89°57'44" WEST, 100.00 FEET; NORTH 88°48'59" WEST, 100.00 FEET;
NORTH 89°23'21" WEST, 300.00 FEET; NORTH 88°48'59" WEST, 200.01 FEET; NORTH 88°51'54" WEST, 109.31 FEET TO A POINT ON THE EAST LINE OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF AFORESAID SECTION 9; THENCE RUN SOUTH 00°34'36" EAST ALONG SAID EAST LINE FOR A DISTANCE OF 1318.27 FEET TO THE SOUTHEAST CORNER OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4; THENCE RUN NORTH 89°44'40" WEST ALONG THE SOUTH LINE OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 FOR A DISTANCE OF 1351.96 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF STATE ROAD 17 AS SHOWN ON FDOT RIGHT OF WAY MAP SECTION NO. 5029-RD (8), AFORESAID PUBLIC RECORDS; THENCE RUN SOUTH 00°33'34" EAST ALONG SAID WEST RIGHT OF WAY LINE FOR A DISTANCE OF 658.71 FEET TO A POINT ON THE SOUTH LINE OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHWEST 1/4; THENCE RUN NORTH 89°39'18" WEST ALONG SAID SOUTH LINE FOR A DISTANCE OF 589.98 FEET TO A POINT ON THE EAST LINE OF THE DUKE ENERGY PROPERTY, AS RECORDED IN OFFICIAL RECORDS BOOK 2209, PAGE 0597, SAID PUBLIC RECORDS; THENCE RUN NORTH 03°05'06" WEST ALONG SAID EAST LINE FOR A DISTANCE OF 1963.50 FEET TO A POINT ON THE AFORESAID SOUTH RIGHT OF WAY LINE OF HUGHES ROAD; THENCE DEPARTING SAID EAST LINE RUN THE FOLLOWING COURSES AND DISTANCES ALONG SAID SOUTH RIGHT OF WAY LINE: SOUTH 89°30'32" EAST, 49.40 FEET; NORTH 00°39'47" EAST, 6.80 FEET; SOUTH 89°44'17" EAST, 100.00 FEET; SOUTH
89°30'32" EAST, 100.00 FEET; SOUTH 89°37'24" EAST, 100.00 FEET; SOUTH
89°03'02" EAST, 100.00 FEET; SOUTH 89°54'36" EAST, 100.00 FEET; SOUTH
86°11'47" EAST, 110.29 FEET; SOUTH 87°23'20"' EAST, 83.13 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF AFORESAID STATE ROAD 17; THENCE RUN NORTH 00°33'34" WEST ALONG SAID EAST RIGHT OF WAY LINE FOR A DISTANCE OF 1314.71 FEET TO THE POINT OF BEGINNING.

ADDITIONALLY:	THE	SOUTHEAST	1/4	OF	THE	NORTHEAST	1/4	OF	THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, LYING WEST OF DETOUR ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF DETOUR ROAD, RECORDED IN MAP BOOK 1, PAGES 14 THROUGH 17 OF THE PUBLIC RECORDS OF POLK COUNTY, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E.,
A DISTANCE OF 1983.73 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°35'14"W., A DISTANCE OF 668.36 FEET TO THE NORTH BOUNDARY THEREOF; THENCE ALONG SAID NORTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 646.51 FEET TO THE WEST MAINTAINED RIGHT OF WAY OF AFORESAID DETOUR ROAD; THENCE ALONG SAID WEST MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: 1) S.00°17'29"E., A DISTANCE OF 232.78 FEET;
2) S.00°34'41"E., A DISTANCE OF 200.00 FEET; 3) S.00°51'52"E., A DISTANCE OF
200.00 FEET; 4) S.00°00'18"E., A DISTANCE OF 36.24 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 645.88 FEET TO THE POINT OF BEGINNING. CONTAINING 9.911 ACRES, MORE OR LESS.
CONTAINING 206.541 ACRES, MORE OR LESS. ADDITIONALLY:
THE SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4, AND THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1332.66 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/2 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°55'02"E., A DISTANCE OF 661.24 FEET TO THE SOUTHWEST CORNER OF AFORESAID SOUTHEAST 1/4 OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 FOR A POINT OF BEGINNING; THENCE ALONG THE WEST BOUNDARY THEREOF, N.00°36'20"W., A DISTANCE OF 667.01 FEET TO THE SOUTH BOUNDARY OF THE NORTH 1/4 OF SAID NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, S.89°58'33"E., A DISTANCE OF 1322.68 FEET TO THE EAST BOUNDARY OF AFORESAID SOUTHWEST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4; THENCE ALONG THE EAST BOUNDARY THEREOF, S.00°35'14"E., A DISTANCE OF 668.36 FEET TO AFORESAID SOUTH BOUNDARY OF THE NORTH 1/2 OF THE NORTHEAST 1/4; THENCE ALONG SAID SOUTH BOUNDARY, N.89°55'02"W., A DISTANCE OF 1322.49 FEET TO THE POINT OF BEGINNING.

CONTAINING 20.271 ACRES, MORE OR LESS. LESS DESCRIPTION:
A PARCEL OF LAND LYING IN SECTION 9, TOWNSHIP 28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGIN AT THE SOUTHEAST CORNER OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 9; THENCE ALONG THE SOUTH BOUNDARY
OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9, N.89°44'40"W., A DISTANCE OF 1285.95 FEET TO THE EAST RIGHT-OF-WAY OF SCENIC HIGHWAY, ALSO KNOWN AS STATE ROAD 17 PER THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT-OF-WAY MAP SECTION 5029-RD (8); THENCE ALONG SAID EAST RIGHT-OF-WAY, N.00°33'34"W., A DISTANCE OF 449.46 FEET; THENCE DEPARTING SAID EAST RIGHT-OF-WAY, N.89°25'24"E., A DISTANCE OF
530.68 FEET; THENCE N.00°34'36"W., A DISTANCE OF 10.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 555.00 FEET; THENCE S.00°34'36"E., A DISTANCE OF 85.00 FEET; THENCE N.89°25'24"E., A DISTANCE OF 200.00 FEET TO THE EAST BOUNDARY OF SAID NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 9; THENCE ALONG SAID EAST BOUNDARY, S.00°34'36"E., A DISTANCE OF 393.14 FEET TO THE POINT OF BEGINNING. CONTAINING 13.325 ACRES, MORE OR LESS.

LESS DESCRIPTION:
A PARCEL OF LAND LYING IN THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP
28 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTH 1/4 CORNER OF SAID SECTION 9, RUN THENCE ALONG THE WEST BOUNDARY OF SAID NORTHEAST 1/4, S.00°36'53"E., A DISTANCE OF 1360.11 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N.89°23'07"E., A DISTANCE OF 36.64 FEET TO THE INTERSECTION OF THE EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17), ACCORDING TO THE STATE OF FLORIDA STATE ROAD DEPARTMENT RIGHT OF WAY MAP, PROJ. 5209-RD.(8), AND THE SOUTHERLY MAINTAINED RIGHT OF WAY OF WHITE CLAY PIT ROAD, ACCORDING TO THE POLK COUNTY MAINTAINED RIGHT OF WAY MAP OF WHITE CLAY PIT ROAD, RECORDED IN MAP BOOK 2, PAGES 146 THROUGH 156 OF THE PUBLIC RECORDS OF POLK COUNTY, FLORIDA, FOR A POINT OF BEGINNING; THENCE ALONG SAID SOUTHERLY MAINTAINED RIGHT OF WAY THE FOLLOWING FOUR (4) COURSES: N.87°19'06"E., A DISTANCE OF 63.17 FEET; 2) S.89°25'57"E., A DISTANCE OF 100.00 FEET; 3) S.88°58'27"E., A DISTANCE OF 200.01 FEET; 4) S.89°32'50"E., A DISTANCE OF 152.32 FEET; THENCE DEPARTING SAID SOUTHERLY MAINTAINED RIGHT OF WAY, S.00°43'13"W., A DISTANCE OF 196.22 FEET; THENCE S.89°24'09"W., A DISTANCE OF 204.98 FEET; THENCE N.00°35'51"W., A DISTANCE OF 10.00 FEET; THENCE S.89°24'09"W., A DISTANCE OF 174.65 FEET; THENCE S.00°35'51"E., A DISTANCE OF 22.50 FEET; THENCE S.89°24'09"W., A DISTANCE OF 131.23 FEET TO AFORESAID EASTERLY RIGHT OF WAY OF SCENIC HIGHWAY (STATE ROAD 17); THENCE ALONG SAID EASTERLY RIGHT OF WAY, N.00°35'07"W., A DISTANCE OF
216.86 FEET TO THE POINT OF BEGINNING. CONTAINING 2.374 ACRES, MORE OR LESS.

ALTOGETHER CONTAINING 211.113 ACRES, MORE OR LESS.

Section XIII

INTERLOCAL AGREEMENT BETWEEN SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AND SCENIC TERRACE NORTH COMMUNITY DEVELOPMENT DISTRICT REGARDING MUTUAL COOPERATION FOR THE FINANCING, OPERATION AND MAINTENANCE OF CERTAIN AMENITIES TO BE ACQUIRED, AND/OR CONSTRUCTED

THIS AGREEMENT is made by and between the SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government located in the Town of Lake Hamilton, Polk County, Florida (“STSCDD”), and the SCENIC TERRACE NORTH COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government located in the City of Haines City, Polk County, Florida (“STNCDD”) (collectively referred to herein as the “Districts”) (this agreement hereinafter referred to as the “Interlocal Agreement”).

RECITALS

WHEREAS, STSCDD and STNCDD are local units of special purpose government located entirely within Polk County, Florida that have been established for the purpose of planning, financing, constructing, installing, and/or acquiring certain improvements, facilities and services in conjunction with the development of the lands located within the Districts; and

WHEREAS, the Districts were created by and established pursuant to Chapter 190, Florida Statutes (the “Charter”); and

WHEREAS, the Town of Lake Hamilton and the City of Haines City have each granted the Districts special powers under subsection 190.012(2)(a) to “plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain additional systems and facilities for: parks and facilities for indoor and outdoor recreational, cultural, and educational uses” pursuant to Town of Lake Hamilton Ordinance O-21-19 and City of Haines City Ordinance 21- 1741; and

WHEREAS, Highland Sumner, LLC (“Developer”), the developer of the lands within STSCDD, has approached the Districts expressing a desire for one or more of the Districts to acquire certain amenities, more specifically described in the attached Exhibit A (hereinafter, the “Amenities”); and
WHEREAS, the STSCDD Board of Supervisors (“STSCDD Board”) and the STNCDD Board of Supervisors (“STNCDD Board,” and together with the STSCDD Board, the “Boards”) would like to jointly acquire, and/or construct and operate the Amenities; and

WHEREAS, the Developer is presently constructing the Amenities within the STSCDD boundaries; and

WHEREAS, the Districts do not currently have sufficient funds to acquire, and/or construct the Amenities; and

WHEREAS, each of the Boards believes that the most efficient and equitable manner in which to fund acquisition, and/or construction of the Amenities is through the issuance of one or more series of special assessment bonds (“Amenity Bonds”); and

WHEREAS, the Amenity Bonds of each District may be issued as part of one or more series of special assessment bonds for additional public infrastructure to be financed by each District; and

WHEREAS, the Districts find it is not equitable, fair or efficient for each District to construct or acquire amenities within its respective boundary, to reserve use for only its residents, and to allocate the corresponding costs of the construction, acquisition, ownership, operation and maintenance of such amenities to only its residents; and

WHEREAS, the Districts desire for all landowners within the Districts to be able to use the Amenities following the acquisition and/or construction; and

WHEREAS, the Charter and Section 163.01, Florida Statutes, as amended (the “Interlocal Cooperation Act”), permits local governmental units to make the most efficient use of their powers by enabling them to cooperate with each other on a basis of mutual advantage and to thereby provide services and facilities in a manner and pursuant to forms of governmental organization that will accord best with geographic, economic, population, and other factors influencing the needs and development of local communities; and

WHEREAS, under the Interlocal Cooperation Act, the Districts may enter into an interlocal agreement in order to, among other things, facilitate issuance of the Amenity Bonds, provide for the perpetual operation, maintenance, repair and replacement of the Amenities, and ensure that all landowners within the Districts shall have continued use of the Amenities; and

WHEREAS, the Districts wish to enter into an agreement to jointly exercise their Charter powers in a cost effective, equitable and rational manner; and

WHEREAS, the Districts are each empowered pursuant to Town of Hamilton Ordinance O-21-19 and City of Haines City Ordinance 21-1741 to acquire, construct and operate and maintain the Amenities to benefit the lands within and outside their boundaries; and
WHEREAS, the Districts find it mutually beneficial and in the best interests of their landowners, current and future residents and the public at large that the Districts cooperate to avoid conflicting, disjointed, duplicative, or multiple financing efforts as the Districts implement the Charter for the lands within and outside their respective boundaries; and

WHEREAS, Section 190.011, Florida Statutes, permits community development districts to borrow money and issue bonds; levy special assessments; borrow money from a unit of local government for any district purposes and to enter into agreements required in connection therewith; and cooperate with, or contract with, other governmental agencies as may be necessary or convenient in connection with any of the powers, duties, or purposes authorized in the Charter; and

WHEREAS, the Districts desire for the costs of the acquisition, and/or construction of the Amenities, to be fairly allocated among all landowners within both of the Districts; and

WHEREAS, to promote equity and fiscal efficiency, the Boards desire for each of the Districts to provide or cause to be provided a proportionate share the Amenity Bonds to fund acquisition, and/or construction of the Amenities; and

WHEREAS, approximately forty eight percent (72%) of the total residential units expected to be developed within the Districts are located within the boundaries of STSCDD and approximately fifty two percent (28%) of the total residential units expected to be developed within the Districts are located within the boundaries of STNCDD; and

WHEREAS, the Districts have accordingly determined that STSCDD is the appropriate location for the Amenities to be located, and that STSCDD shall hold title on behalf of the Districts; and

WHEREAS, the Districts wish to ensure the timely, efficient and cost effective issuance of the Amenity Bonds; and

WHEREAS, in order to issue the Amenity Bonds, it will be necessary for each District to have validated such bonds under Chapter 75, Florida Statutes; and

WHEREAS, in order to secure the issuance of the Amenity Bonds, it will also be necessary for the Districts to levy debt service special assessments (the “Amenity Debt Assessments”) on the developed and developable lands within their respective boundaries; and

WHEREAS, such Amenity Debt Assessments may be levied as part of a larger amount of debt service assessments securing special assessment bonds for additional public infrastructure financed by the Districts; and

WHEREAS, under Florida law, STSCDD can only levy special assessments on the lands within its boundaries and STNCDD can only levy assessments on the lands within its boundaries; and
WHEREAS, the Districts desire to develop a fair and consistent approach to the levy of Amenity Debt Assessments for the repayment of the Amenity Bonds; and

WHEREAS, following the acquisition, and/or construction of the Amenities it will be necessary for the Districts to operate, maintain, repair and replace the Amenities; and

WHEREAS, the Districts desire to develop a fair and consistent approach to the levy of annual special assessments necessary to provide for the operation, maintenance, repair and replacement of the Amenities (the “Amenity O&M Assessments”); and

WHEREAS, the Amenity O&M Assessments may be levied as part of other annual special assessments for the operation, repair and replacement of additional public infrastructure financed by the Districts; and

WHEREAS, the Districts find this Interlocal Agreement to be necessary, proper and convenient to the exercise of their powers, duties and purposes authorized by law; and

WHEREAS, the Districts hereby desire to enter into this Interlocal Agreement, which shall be filed as required by law with the Circuit Clerk of Polk County, Florida.
NOW, THEREFORE, in consideration of the recitals, agreements and mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Districts, the Districts agree as follows:

SECTION 1. RECITALS AND AUTHORITY. The foregoing recitals are true and correct and by this reference are incorporated as a material part of this Interlocal Agreement. This Interlocal Agreement is entered into pursuant to the provision of Florida law, including but not limited to Chapters 163, 189, and 190, Florida Statutes, and the Florida Constitution.

SECTION 2. APPROVAL OF JOINT ACQUISITION AGREEMENT BY STSCDD AND STNCDD; AUTHORIZATION TO CLOSE ON TRANSACTIONS SET
FORTH IN THE JOINT ACQUISITION AGREEMENT. The Joint Acquisition Agreement between STSCDD, STNCDD and Developer dated August 16, 2023, and attached hereto as Exhibit B (the “Joint Agreement”), is hereby approved by the Districts. Any proposed amendments to the Joint Agreement which have a material financial impact on the Amenities shall be submitted to each District’s Board for approval prior to execution. Each District hereby authorizes the manager and engineer of the Districts to close on the transactions set forth in the Joint Agreement in accordance with its terms, as may be amended from time to time, and each District agrees to execute any documents reasonably requested by the other to effectuate same (hereinafter, the “Acquisition”).

SECTION 3. ISSUANCE OF AMENITY BONDS. Under the Charter, the Districts are empowered to issue bonds, as such term is defined in the Charter. The Districts agree and covenant to cooperate on the issuance of its respective series of Amenity Bonds. To that end, the Districts have each approved an Engineer’s Report (the “Improvement Plan”), attached hereto as Composite Exhibit C, and a Special Assessment Methodology Report for the allocation of
benefits and debt over all of the developed and developable residential lands within the Districts (“Methodology”), attached hereto as Composite Exhibit D.

Issuance of Bonds. STSCDD and STNCDD each agree to issue the Amenity Bonds, or to otherwise provide for the funding in such amounts as necessary to provide its pro rata share of the costs of the construction and/or acquisition of the Amenities, under and pursuant to a respective Master Trust Indenture (the “Master Indenture”), from each District to U.S. Bank, Trust Company, National Association, as trustee (the “Trustee”), as supplemented for each series of bonds by a supplemental indenture (as so supplemented, an “Indenture”). The forms of the Master Indenture are attached hereto as Composite Exhibit
E. The proceeds of the Amenity Bonds will: (i) provide funds for the acquisition and/or construction of the Amenities; (ii) pay certain costs associated with the issuance of the Amenity Bonds; (iii) make a deposit into the applicable series Reserve Account(s) for the benefit of the Amenity Bonds; and (iv) pay interest on the Amenity Bonds for a period not to exceed twelve (12) months.

Covenants by STSCDD AND STNCDD. The Districts agree to take all actions reasonably necessary to assist the other in the issuance of the Amenity Bonds. If contemplated by the Indenture, STSCDD and STNCDD hereby agree to join in the Indenture and covenants of the other and agree to comply with each and every provision of the Indenture applicable to it, as if each and every such provision were expressly set forth herein and referenced.

Future Refinancing of the Amenity Bonds. Each District can make the unilateral decision to refinance its Amenity Bonds in the future so long as the refinancing does not raise the annual Amenity Debt Assessment payment required by the landowners within the other District, does not extend the original term of the Amenity Bonds, and does not increase the par amount of the total Amenity Debt Assessment. If the proposed refinancing would increase the annual Amenity Debt Assessment payment required by any landowners, extend the original term of the Amenity Bonds, or increase the par amount of the total Amenity Debt Assessment, then each District agrees to take all actions reasonably necessary to assist the other in efforts to refinance the Amenity Bonds.

SECTION 4. ALLOCATION OF AMENITY DEBT ASSESSMENT RESPONSIBILITIES; LEVY, COLLECTION AND TRANSMISSION OF AMENITY DEBT ASSESSMENTS; EXCESS FUNDS; CREDIT TO AMENITY DEBT ASSESSMENTS.

Allocation of Amenity Debt Assessment Responsibilities Between Districts. The Districts agree that the Amenity Debt Assessments shall be levied on and collected from the assessable property within each of the District’s boundaries in proportion to the number of assessable units developed and to be developed within each District, and as set forth in the Methodology. Specifically, the Amenity Debt Assessments shall be assigned to eight hundred forty-three (843) residential units within STSCDD and three hundred thirty (330) residential units within STNCDD in the amounts set forth in the Methodology. On or before April 1 of each year, each District shall determine whether more residential units than set
forth above have been developed within the District’s boundaries. If more than eight hundred forty-three (843) residential units within STSCDD and three hundred thirty (330) units have been developed in STNCDD, the District containing the excess units shall assign a proportionate share of the Amenity Debt Assessments to the excess units, and the assessment principal on the original eleven hundred seventy-three (1173) units shall be adjusted downward accordingly. If less than eight forty-three (843) residential units within STSCDD and three hundred thirty (330) units are developed in STNCDD, each District shall diligently pursue the collection of true up payments as required by the respective District’s assessment resolutions and true up agreements related to the Amenity Bonds and Amenity Debt Assessments.

Levy, Collection and Transmission of Amenity Debt Assessments. Each District irrevocably pledges and agrees to take all actions necessary to budget, levy, impose, certify for collection and enforce the Amenity Debt Assessments on lands located within each District in accordance with the Methodology, as said lands may be amended from time to time, benefitting from the acquisition, and/or construction and operation of the Amenities. Amenity Debt Assessments shall be imposed, levied and collected in accordance with the terms of the Charter (which may be by direct collection, use of the Polk County tax roll, or any other method allowed under the Indenture and state law). Upon receipt of such assessments, each District agrees to deposit such Amenity Debt Assessment revenue in accordance with the Indenture.

In the event the levy or other action taken by either District relating to the Amenity Debt Assessments is found to be defective or in error, each District agrees to take all actions necessary to remedy any defect or error to perfect the levy, imposition, collection and enforcement of the Amenity Debt Assessments.

Excess Funds; Credits To Assessments. Upon the completion of the acquisition of the Amenities, if there are excess proceeds remaining in the Acquisition and Construction Account for the Amenity Bonds (as defined in the Indenture), such that Chapter 170, Florida Statutes, would require a credit to the assessments levied, such excess funds shall be allocated between STSCDD and STNCDD in proportion to their respective Amenity Debt Assessment responsibility for the Amenity Bonds outstanding.

SECTION 5. ACQUISITION AND/OR CONSTRUCTION OF AMENITIES.  The
Districts agree that the Amenities shall only be acquired and/or constructed as provided by this Agreement. Neither District shall have any obligation to issue Amenity Bonds with proceeds exceeding its proportionate share of the Costs of the Amenities. The Districts agree that the Amenities shall only be constructed and otherwise as provided by STSCDD. In order to ensure the efficient and timely acquisition, and/or construction of the Amenities and to avoid unnecessary duplication of costs, the Districts hereby agree that STSCDD shall hold title to the Amenities on behalf of the Districts and shall be responsible for providing for the design, permitting, acquisition, and/or construction, including construction management, of any such portion or all of the Amenities, through final acceptance by any applicable governmental body or authority with jurisdiction (“Completion”).
Contracts; Change Orders. All contracts for construction of the Amenities shall ensure that STNCDD is insured and indemnified to the same extent as STSCDD. STSCDD shall comply with all applicable laws regarding the procurement of goods, services or construction activities. Change orders during construction shall be processed and approved by STSCDD. If such costs associated with a change order do not cause the costs of the construction of the Amenities to exceed the amount available in the Acquisition and Construction Account for the Amenity Bonds, no action by STNCDD shall be required. If such change order would cause the costs of the construction and reconstruction of the Amenities to exceed the amount available in the Acquisition and Construction Account for the Amenity Bonds (either from bond proceeds or other sources), then the approval of STNCDD shall be required before STSCDD approves the change order and issues an invoice to STNCDD for its proportional share of the change order.

Construction Administration; Permitting. In connection with the construction of the Amenities, STSCDD shall enter into such contracts and agreements for services and equipment as are necessary to provide for construction administration of all aspects of the construction and reconstruction contemplated herein. STSCDD shall be solely responsible for ensuring adequate construction administration for the Amenities. All contracts for construction administration shall ensure that STNCDD is insured and indemnified to the same extent as STSCDD. STSCDD shall be responsible for obtaining all necessary permits, approvals and agreements to authorize construction. STNCDD agrees to cooperate with STSCDD in obtaining those permits, approvals and agreements.

Costs. All administrative fees and expenses (e.g., engineering, legal, design, construction administration, consultant fees, permit fees, insurance) incurred by STSCDD and associated with the Amenities shall be funded out of the proceeds of the Amenity Bonds, unless voluntarily contributed by one of the Districts, Developer or a third party.

5.4. Conditions Precedent to Construction. Upon the issuance of the Amenity Bonds, any required regulatory permits or other approvals and the completion of any public procurement processes, if necessary, STSCDD shall commence acquisition, and/or construction of the Amenities and shall diligently proceed to their completion. STSCDD agrees to provide periodic construction updates to STNCDD.

SECTION 6.  OPERATION, MAINTENANCE, REPAIR AND REPLACEMENT
OF THE AMENITIES; INSURANCE. STSCDD shall be responsible for performing or arranging for the performance of the operation, maintenance, repair and replacement of the Amenities. STSCDD shall use its discretion in determining which contracts for the operation, maintenance, repair and replacement of the Amenities shall include insurance and indemnification protections. Such contracts shall provide that STNCDD receives the same insurance and indemnity protections as STSCDD.

SECTION	7.	AMENITY	O&M	BUDGET;	LEVY,	COLLECTION	AND TRANSMISSION OF AMENITY O&M ASSESSMENTS.
Allocation of Amenity Budget Expenses between Districts. For each fiscal year or part thereof, STSCDD shall prepare a budget for the operation, maintenance, repair and replacement of the Amenities (the “Amenity Budget”). The Districts agree that the amounts to be contributed by each District for the provision of the operation, maintenance, repair and replacement of the Amenities on an annual basis shall be based on eight hundred forty-three (843) residential units within STSCDD and three hundred thirty (330) residential units within STNCDD. Provided, however, if more than eight hundred forty-three (843) residential units within STSCDD and three hundred thirty (330) residential units are developed within STNCDD, each excess unit shall be allocated Amenity O&M Assessments based on the total Amenity Budget and the percentages set forth below adjusted accordingly. In addition, if any true up payment of Amenity Debt Assessments is received by a District evidencing that less than the number of residential units stated above will be developed in that District, the percentages shall be adjusted accordingly. Based on the number of assessable units developed and to be developed within each District, each District’s initial share of the Amenity Budget Expenses is approximated as follows:

STSCDD	72%
STNCDD	28%.

Annual Budget.

Partial Fiscal Year 2023-2024. At least ninety (90) days prior to the date on which the Acquisition is anticipated to occur, STSCDD shall prepare a preliminary annual budget for the operation, maintenance, repair and replacement of the Amenities and present it to the STNCDD Board. The STNCDD Board may review the preliminary annual budget and provide comments or suggested changes to the preliminary annual budget to the STSCDD Board. The STSCDD Board shall consider the comments and suggested changes offered by the STNCDD Board prior to the time it approves its amendment to its Fiscal Year 2019-2020 general fund budget, into which the Amenity Budget shall be incorporated. The STSCDD Board shall not be obligated to incorporate any of the comments or changes suggested by the STNCDD Board, but both Districts agree to discuss the comments and suggested changes in good faith. Nothing herein shall operate to prevent STSCDD from approving its amendment to its Fiscal Year 2023-2024 budget in a timely manner. STSCDD shall include the line items constituting the entire Amenity Budget in its amended General Fund Budget as expenses. STNCDD shall include one line item in its amended General Fund Budget reflecting the obligation to STSCDD for STNCDD’s share of the Amenity Expenses as an expense. STSCDD shall include the amount of Amenity O&M Assessments due from STNCDD in the amendment to its Fiscal Year 2023-2024 Budget as a revenue.

Fiscal Year 2024-2025 and Thereafter. STSCDD shall prepare a preliminary annual budget for the operation, maintenance, repair and replacement of the Amenities. On or before April 1, 2024, this preliminary annual budget shall be presented to the STNCDD Board. By May 15, 2024, the STNCDD Board may review the budget and provide comments or suggested changes to the preliminary budget to the STSCDD Board. The STSCDD Board shall consider the comments and suggested changes offered by the
STNCDD Board when it adopts its general fund budget, in which the Amenity Budget shall be incorporated. The STSCDD Board shall not be obligated to incorporate any of the comments or suggested changes requested by the STNCDD Board, but both Districts agree to discuss the comments and suggested changes in good faith. Nothing herein shall operate to prevent STSCDD from adopting its final budget in a timely manner. STSCDD shall include the line items constituting the entire Amenity Budget in its General Fund Budget as expenses. STNCDD shall include one line item in its General Fund Budget reflecting the obligation to STSCDD for STNCDD’s share of the Amenity Expenses as an expense. STSCDD shall include the amount of Amenity O&M Assessments due from STNCDD in its Fiscal Year 2024-2025 Budget as revenue. The same process shall be followed for each fiscal year after Fiscal Year 2024-2025.

Levy of Annual Assessments for the Operation, Maintenance, Repair and Replacement of the Amenities.

Partial Fiscal Year 2023-2024. Within thirty (30) days of receipt of the preliminary annual budget described in section 7.2.a. above, STSCDD and STNCDD shall initiate the process to levy Amenity O&M Assessments for the period between the date of the Acquisition or Completion to September 30, 2024. The Amenity O&M Assessments levied by each District shall be equal to that District’s percentage of the Amenities Budget as calculated in accordance with section 7.1 above. The Amenity O&M Assessments shall be certified for direct collection by each District against all assessable land in that District in one installment due within thirty (30) days after the Acquisition. Provided, however, the Districts shall each have the option to allow the single annual installment to be satisfied by landowners in equal monthly payments. On the first of each month after the Acquisition or Completion until September 30, 2024, STNCDD shall calculate the amount of Amenity O&M Assessment revenue received by STNCDD and pay such amount to STSCDD. Notwithstanding, STNCDD and STSCDD shall direct bill 100% of Amenity O&M Assessments for partial Fiscal Year 2023-2024 on property owned by Developer and its affiliates to be due at Acquisition or Completion of the Amenities.

Fiscal Year 2024-2025and Thereafter. In connection with the Fiscal Year 2023- 2024 budget approval and adoption process, STSCDD and STNCDD shall initiate the process to levy Amenity O&M Assessments. The Amenity O&M Assessments levied by each District shall be equal to that District’s percentage of the Amenities Budget as calculated in accordance with section 7.1 above. The Amenity O&M Assessments shall be certified for collection to the Polk County Tax Collector no later than the date required by the Polk County Property Appraiser and Polk County Tax Collector. If the Uniform Method is not available for collection of the Amenity O&M Assessments, the Districts agree to directly collect such assessments in accordance with Florida law. On the first (1st) and fifteenth (15th) day of each month, STNCDD shall calculate the amount of Amenity O&M Assessment revenue received by STNCDD and pay such amount to STSCDD on such date.

Budget Reconciliation. At the conclusion of each fiscal year, STSCDD shall compare the actual annual expenses for operation, maintenance, and repair of the Amenities with the amount previously paid by STNCDD for that fiscal year.  Based on this
comparison, STSCDD shall determine whether the actual expenses incurred in the operation, maintenance and repair of the Amenities was higher or lower than budgeted. If the actual expenses were lower than budgeted, the budgeted funds not expended shall be deposited into a capital reserve account restricted for use on the Amenities. If the actual expenses were higher than budgeted, STSCDD shall provide STNCDD with an invoice for the amount of the underpayment. STNCDD shall pay such invoice within thirty (30) days from the date of the invoice.

Unbudgeted Expenses. It is contemplated by the Districts that unusual, unbudgeted maintenance or repair events (e.g. extreme weather or bug infestation, etc.) may occur. In such event, STSCDD shall perform the extraordinary maintenance or repair of the Amenities. STSCDD shall then provide STNCDD with an invoice for the extraordinary maintenance or repair costs based on the percentages set forth in section 7.1 above and such invoice shall be paid by STNCDD as soon as possible, but no later than thirty (30) days from the date of the invoice.

Inspection of Records; Payment Disputes. Upon request, STSCDD shall make available to STNCDD for review at a reasonable time and place, its books and records with respect to expenses associated with the operation, maintenance, repair and replacement of the Amenities. In the event of a dispute between the parties relating to the reimbursement of these expenses, STNCDD shall pay the amount requested by STSCDD in the time frames set forth herein. STNCDD shall give written notice accompanying the payment stating it disputes the amount of the payment. Payment in this manner shall not waive the right of STNCDD to dispute the correct amount of such required payment.

SECTION 8. USE OF AMENITIES. STSCDD and STNCDD hereby agree that their landowners and residents shall generally have rights to use the Amenities on an equal basis. Any such usage shall be subject to the rules, regulations, and policies applicable to the Amenities. Neither District shall have the authority to permit, or enter into an agreement with, another entity granting usage rights for the benefit of persons or entities who are not residents or landowners in the Districts except as provided in the Joint Agreement, or written amendment to this Interlocal Agreement, or a non-resident user policy to be adopted by STSCDD in accordance with the Charter and regulations of the IRS governing tax-exempt special assessment bonds.

SECTION 9. IMMUNITY. Nothing in this Interlocal Agreement shall be deemed as a waiver of immunity or limits of liability of either District, including their supervisors, officers, agents and employees and independent contractors, beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Interlocal Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

SECTION 10. DEFAULT; CONFLICT RESOLUTION.

Default; Cure.	A default by either of the Districts under this Interlocal Agreement shall entitle the other District to all remedies available at law or in equity, which
may include, but not be limited to, damages, injunctive relief and specific performance. Each of the parties hereto shall give the other party written notice of any defaults hereunder and shall allow the defaulting party not less than fourteen (14) days from the date of receipt of such notice to cure monetary defaults and not less than thirty (30) days to cure other defaults.

Joint Meeting.

In order to allow for members of the STNCDD Board to provide input regarding the Amenities, all meetings wherein the STSCDD Board takes action on any matters related to the Amenities, including the construction, acquisition, operation and/or maintenance thereof, shall occur at a joint public meeting of the Boards (hereinafter, the “Joint Meeting”); provided, however, that a Joint Meeting shall not be required for approval, authorization and/or ratification of invoices or expenditures that are routine or are within the annual budgeted amount for such items. All Joint Meetings shall be noticed in the same manner as a regular board of supervisors meeting. The Districts agree to use good faith toward the resolution of any such issues or areas of concern relating to the Amenities.

Notwithstanding the foregoing, despite the Districts’ obligation to hold Joint Meetings to deal with matters relating to the Amenities, a Joint Meeting shall not be required to be held if such obligation is waived by the Chairman or Vice-Chairman of the STNCDD Board, as applicable, in writing in advance of the next scheduled Joint Meeting.

Mediation. In the event the Districts are unable to resolve the issues which are the subject of the Joint Meeting, the Districts shall submit their dispute to mediation. The Districts agree to cooperate in the selection of a mediator, and agree to share equally in mediation expenses, including the fees of the mediator. However, each of the Districts shall be responsible for the fees of its counsel. This mediation shall be held within forty-five (45) days of the conclusion of the joint public meeting.

SECTION  11.	MERGER  OF  DISTRICTS;  COVENANT  TO  MAINTAIN
EXISTENCE. Upon the merger of the Districts pursuant to section 190.046, Florida Statutes, this Interlocal Agreement shall terminate; provided, however, STSCDD shall be entitled to levy and collect special assessments against lands formerly within STNCDD for any payments outstanding and due to the STSCDD or the Trustee pursuant to the Indenture. Except in the case of a merger pursuant to section 190.046, Florida Statutes, both STSCDD and STNCDD agree to do everything within their powers to maintain their existence until the Amenity Bonds are completely redeemed and defeased and all obligations set forth in the Indenture have been discharged by both STSCDD and STNCDD. Neither District will seek to dissolve, and each District will actively oppose any effort to terminate the Districts, respectively.

SECTION 12. MUTUAL TERMINATION. The Districts shall have the option of terminating this Agreement only by entering into a written Termination Agreement which shall be filed with the Clerk of the Circuit Court of Polk County, Florida. Recognizing that this Interlocal Agreement is necessary to ensure the full amortization of the Amenity Bonds, and will be relied upon by the owners of the Amenity Bonds and the Trustee, in no event shall the
effective date of termination set by such a Termination Agreement be sooner than the final repayment or legal defeasance of the Amenity Bonds and all obligations set forth in the Indenture have been discharged by both STSCDD and STNCDD.

SECTION 13. CONTROLLING LAW; VENUE. This Agreement shall be construed and governed in accordance with the laws of the State of Florida. Venue shall be in Polk County, Florida.

SECTION 14. SEVERABILITY. In the event any term or provision of this Agreement is determined by appropriate judicial authority to be illegal or otherwise invalid, such provision shall be construed or deleted as such authority determines, and the remainder of this Agreement shall be construed to be in full force and effect.

SECTION 15. AMENDMENT. This Interlocal Agreement shall not be modified or amended except by written agreement of the Districts, which amendment shall be approved by each of the Boards, duly executed by an authorized representative of the parties hereto, and filed with the Clerk of the Circuit Court of Polk County, Florida.

SECTION 16. TIME OF THE ESSENCE. The Districts each agree that time is of the essence of this Interlocal Agreement

SECTION 17. NOTICE. Each of the Districts shall furnish to the other such notice, as may be required from time to time, pursuant to this Interlocal Agreement, in writing, posted in the U.S. mail or by hand delivery, or by overnight delivery service and addressed as follows:

To STSCDD:	Scenic Terrace South Community Development District 219 East Livingston Street.
Orlando, Florida 32801 Attn: District Manager

With a copy to:	Kilinski | Van Wyk, PLLC
517 E. Collage Avenue Tallahassee, Florida 32301 Attn: District Counsel

To STNCDD:	Scenic Terrace North Community Development District 219 East Livingston Street.
Orlando, Florida 32801 Attn: District Manager

With a copy to:	Kilinski | Van Wyk, PLLC
517 E. Collage Avenue Tallahassee, Florida 32301 Attn: District Counsel
Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein.

SECTION 18. EXECUTION IN COUNTERPARTS. This Agreement may be executed in several counterparts, each which shall be an original and all of which shall constitute but one and the same instrument.

SECTION 19. EFFECTIVE DATE. This Interlocal Agreement and the rights conferred herein shall become effective upon filing with the Clerk of the Circuit Court of Polk County, Florida, in accordance with the requirements of section 163.01(11), Florida Statutes. Notwithstanding the foregoing, this Interlocal agreement shall expire three (3) years from the effective date if on that date none of the Amenity Bonds have been issued by STSCDD as provided herein.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, the undersigned have executed this Interlocal Agreement as of the 	 day of 	, 2023.

Witness:
SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Print Name

Witness:

Print Name
Chairperson, Board of Supervisors

Attest: 	
Secretary

Witness:
SCENIC TERRACE NORTH COMMUNITY DEVELOPMENT DISTRICT

Print Name

Witness:

Print Name
Chairperson, Board of Supervisors

Attest: 	
Secretary

Section XIV
AGREEMENT BETWEEN THE SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT AND SCENIC TERRACE NORTH COMMUNITY DEVELOPMENT DISTRICT REGARDING THE JOINT ACQUISITION OF CERTAIN WORK PRODUCT AND IMPROVEMENTS

THIS JOINT ACQUISITION AGREEMENT (“Agreement”) is made and entered into this     day of August, 2023, by and between:

Scenic Terrace South Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in the Town of Lake Hamilton, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 ("STSCDD"); and

Scenic Terrace North Community Development District, a local unit of
special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in City of Haines City, Polk County, Florida, with a mailing address of 219 East Livingston Street, Orlando, Florida 32801 ("STNCDD", together with STSCDD, referred to as the “Districts” and individually as a “District”).

RECITALS

WHEREAS, STSCDD and STNCDD are local units of special purpose government located entirely within Polk County, Florida that have been established for the purpose of planning, financing, constructing, installing, and/or acquiring certain improvements, facilities and services in conjunction with the development of the lands located within the Districts; and

WHEREAS, the Districts were created by and established pursuant to Chapter 190, Florida Statutes pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (“Act”), and are validly existing under the Constitution and laws of the State of Florida; and

WHEREAS, the Town of Lake Hamilton and City of Haines City have each granted the Districts special powers under subsection 190.012(2)(a) to “plan, establish, acquire, construct or reconstruct, enlarge or extend, equip, operate, and maintain additional systems and facilities for: parks and facilities for indoor and outdoor recreational, cultural, and educational uses” pursuant to Town of Lake Hamilton Ordinance O-21-19 and City of Haines City Ordinance 21-1741, respectively; and

WHEREAS, STNCDD has approached STSCDD expressing a desire to jointly construct or acquire certain amenities, as detailed and more specifically described in STSCDD’s Engineer’s Report - Amended and Restated dated May 16, 2023, and STNCDD’s Engineer’s Report dated July 18,2023 (together, as subsequently amended, the “Engineer’s Reports”), attached hereto as Composite Exhibit A and by reference incorporated herein (the “Amenities”); and
WHEREAS, the STSCDD Board of Supervisors (“STSCDD Board”) and the STNCDD Board of Supervisors (“STNCDD Board,” and together with the STSCDD Board, the “Boards” and individually as a “Board”) would like to jointly acquire and/or construct and operate the Amenities; and

WHEREAS, the Act authorizes the Districts to issue bonds for the purpose, among others, of planning, financing, constructing or acquiring, operating and/or maintaining certain infrastructure, including the Amenities, within or without the boundaries of the Districts; and

WHEREAS, as originally established, approximately seventy two percent (72%) of the total residential units expected to be developed within the Districts are located within the boundaries of STSCDD and approximately twenty eight percent (28%) of the total residential units expected to be developed within the Districts are located within the boundaries of STNCDD; and

WHEREAS, the Districts have accordingly determined that STSCDD is the appropriate location for the Amenities to be located; and

WHEREAS, the Districts have and presently intend to further finance the planning, design, acquisition, construction, and installation of the Amenities; and

WHEREAS, to promote equity and fiscal efficiency, the Boards pursuant to that certain Interlocal Agreement by and between the Districts dated as of August   , 2023, desire for both of the Districts to provide or cause to be provided, a proportionate share of the costs of the Amenities through the issuance of Bonds (hereinafter defined) or otherwise, to fund the acquisition and/or construction of the Amenities; and

WHEREAS, STSCDD has issued its $22,350,000 Special Assessment Bonds, Series 2022 (the “STSCDD Bonds”), to finance all or a portion of the acquisition and/or construction of the infrastructure in STSCDD, including portions of the Amenities; and

WHEREAS, STNCDD is in the process of issuing $12,500,000 Special Assessment Bonds, Series 2023 (the “STNCDD Bonds,” and together with STSCDD Bonds, the “Bonds”), in part to finance the acquisition and/or construction of a portion of the infrastructure in STNCDD, including portions of the Amenities; and

WHEREAS, the Districts intend to use a portion of the Bond proceeds to acquire certain work product, and improvements, constituting a portion of the Amenities attributable to each District pursuant to This Joint Acquisition Agreement; and

WHEREAS, the Districts presently intend to enter into this Agreement regarding the financing and acquisition of the remainder of the Amenities not currently funded from the proceeds of the Bonds, as further described in the Engineer’s Report (the “Remaining Amenities”); and
WHEREAS, the Districts intend to finance all or a portion of the Remaining Amenities through the issuance and delivery by STNCDD special assessment bonds in one or more series and the use of portions of the proceeds from the issuance of one or more series of bonds to permanently finance Amenity costs, (the “Future Phase Bonds”); and

WHEREAS, STSCDD has acquired or contracted directly for: (i) the preparation of the surveys, testing, reports, drawings, plans, permits, specifications, and related documents necessary to complete the Amenities (“Work Product”); or (ii) construction and/or installation of all of the improvements comprising the Amenities (“Improvements”); and

WHEREAS, in order to avoid a delay in the completion of the Amenities, Work Product and/or the Improvements, STSCDD has advance funded, commenced, and/or completed certain of the Amenities, Work Product and/or Improvements, and STSCDD has caused funds to be advanced and/or the Improvements to be completed; and

Whereas, the Districts desires to commence the purchase of certain portions of the Amenities, Work Product and the Improvements, and/or accept assignment of certain agreements regarding the same; and

WHEREAS, the Districts are entering into this Agreement to set forth the process by which the Districts may acquire the Amenities, Work Product, the Improvements, and any related real property interests (“Real Property”).

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the Districts, the receipt of which and sufficiency of which are hereby acknowledged, the Districts agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated as a material part of this Agreement.

WORK PRODUCT AND IMPROVEMENTS. The Districts agree to cooperate and use good faith and best efforts to undertake and complete the acquisition process contemplated by this Agreement on such date or dates as the Districts may jointly agree upon (“Acquisition Date”). Subject to any applicable legal requirements (e.g., including, but not limited to, those laws governing the use of proceeds from tax exempt bonds), and the requirements of this Agreement, the Districts agree to acquire completed Work Product and Improvements comprising the Amenities.

Request for Conveyance and Supporting Documentation – When Work Product or Improvements is completed by or on behalf of STSCDD, STSCDD shall notify STNCDD in writing, describing the nature of the Work Product and/or Improvement and estimated cost. Additionally, STSCDD agrees to provide, at or prior to the Acquisition Date, the following: (i) documentation of actual costs paid, (ii) instruments of conveyance such as bills of sale or such other instruments as may be requested by STNCDD, and (iii) any other
releases, warranties, indemnifications or documentation as may be reasonably requested by STNCDD.

Costs – Subject to any applicable legal requirements (e.g., but not limited to, those laws governing the use of proceeds from tax exempt bonds), the availability of proceeds from the Future Amenity Bonds, and the requirements of this Agreement, the Districts agree to pay the actual reasonable cost of creation, acquisition or construction of the Amenities, Work Product or Improvements incurred. STSCDD shall provide copies of any and all invoices, bills, receipts, or other evidence of costs incurred by STSCDD for any Work Product and/or Improvements. Each District’s District Engineer shall review all evidence of cost and shall certify to both District Boards the total actual amount of cost, which in each District Engineers’ opinion is reasonable for the Work Product and/or Improvements. The opinion of cost of each District’s District Engineer shall be set forth in a Joint Engineer’s Certificate which shall accompany the requisition for funds from each District’s trustee (“Trustee”).

Conveyances on “As Is” Basis – Unless otherwise agreed, all conveyances of Work Product and/or Improvements shall be on an “as is” basis. In addition, STSCDD agrees to assign, transfer and convey jointly to STNCDD any and all rights against any and all firms or entities which may have caused any latent or patent defects, including, but not limited to, any and all warranties and other forms of indemnification.

Right to Rely on Work Product and Releases – STSCDD agrees to jointly release to STNCDD on behalf of the Districts all right, title, and interest which STSCDD may have in and to any Work Product conveyed hereunder, as well as all common law, statutory, and other reserved rights, including all copyrights in the Work Product and extensions and renewals thereof under United States law and throughout the world, and all publication rights and all subsidiary rights and other rights in and to the Work Product in all forms, mediums, and media, now known or hereinafter devised. To the extent determined necessary by STNCDD, STSCDD shall obtain all releases from any professional providing services in connection with the Work Product to enable the Districts to use and rely upon the Work Product.

Transfers to Third Party Governments – If any item acquired is to be conveyed to a third party governmental body, then STSCDD agrees to cooperate and provide such certifications, documents, bonds, warranties, and/or forms of security as may be required by that governmental body, if any.

Permits – STSCDD agrees to cooperate fully in the transfer and acceptance of any permits to STSCDD on behalf of the Districts or a governmental entity with maintenance obligations for any Improvements conveyed pursuant to this
Agreement, provided that such governmental entity accepts the associated operation and maintenance obligations.

Engineer’s Certification – STSCDD shall accept any completed Work Product and/or Improvements following each District’s District Engineer (or other consulting engineer reasonably acceptable to the Districts), in his/her professional opinion, is able to certify that, in addition to any other requirements of law: (i) the Work Product and/or Improvements are part of the Amenities; (ii) the price for such Work Product and/or Improvements does not exceed the actual reasonable cost of the Work Product and/or Improvements; (iii) as to Work Product, the Work Product is capable of being used for the purposes intended by the Districts, and, as to any Improvements, the Improvements were installed in accordance with their specifications, and are capable of performing the functions for which they were intended; and (iv) as to any Improvements, all known plans, permits and specifications necessary for the operation and maintenance of the Improvements are complete and on file with the Districts, and have been transferred, or are capable of being transferred, to the Districts for operations and maintenance responsibilities.

Assignment Of Contracts. The Districts agree STSCDD may accept the assignment of certain contracts. Such acceptance is predicated upon (i) each contractor providing a bond in the form and manner required by section 255.05, Florida Statutes, (ii) receipt by STSCDD of a release from each general contractor acknowledging each assignment and the validity thereof, acknowledging the furnishing of the bond or other security required by section 255.05, F.S., if any, and waiving any and all claims against STNCDD and STSCDD arising as a result of or connected with such assignment. STSCDD hereby indemnifies and holds STNCDD harmless from any claims, demands, liabilities, judgments, costs, or other actions which may be brought against or imposed upon the Districts by any contractors, subcontractors, sub- subcontractors, materialmen, and others providing labor or services in conjunction with each such contract and including claims by members of the public as such claims relate to the period of time prior to STSCDD’s acceptance of the assignment.

CONVEYANCE OF REAL PROPERTY. STSCDD agrees that it will accept conveyance on behalf of the Districts at or prior to the Acquisition Date, as determined solely by the Districts, by a special warranty deed or other instrument acceptable to the STSCDD Board together with a metes and bounds or other description, the Real Property upon which any Amenity Improvements are constructed or which are necessary for the operation and maintenance of, and access to, the Amenities or Improvements.

Cost. The Districts agree that all Real Property shall be Aacquired by the Districts at no cost, unless (i) the costs for the Real Property are included as part of the Amenities, and (ii) the purchase price for the Real Property is less than or equal to the appraised value of the Real Property, based on an appraisal obtained by STSCDD for this purpose. The Districts agree that the purchase price shall not include amounts attributable to the value of
Improvements on the Real Property and other Improvements serving the Real Property that have been, or will be, funded by the Districts.

Fee Title– STSCDD shall only accept conveyance of the Real Property upon which the Improvements are located free and clear of all liens, easements, excepting those deemed reasonable by the Districts, rights, or other encumbrances pursuant to a Warranty Deed.

Fees, Taxes, Title Insurance – STSCDD shall ensure that grantor of any Real Property, (Grantor) shall pay the cost for recording fees and documentary stamps required, if any, for the conveyance of the Real Property upon which the Improvements are constructed. The Grantor shall be responsible for all taxes and assessments levied on the Real Property upon which the Improvements are constructed until such time as the Grantor conveys all said lands to STSCDD. At the time of conveyance, the Grantor shall provide, at its expense, an owner’s title insurance policy or other evidence of title in a form satisfactory to the Districts.

Boundary Adjustments – The Districts agree that future boundary adjustments may be made as deemed reasonably necessary by all Districts in order to accurately describe the Real Property conveyed to STSCDD. The Districts agree that any Real Property transfers made to accommodate such adjustments shall be accomplished by donation. However, the District requesting such adjustment shall pay any transaction costs resulting from the adjustment, including but not limited to taxes, title insurance, recording fees or other costs.

TAXES, ASSESSMENTS, AND COSTS.

Taxes and Assessments on Property Being Acquired. The Districts are exempt governmental units acquiring property pursuant to this Agreement for use exclusively for public purposes. Accordingly, in accordance with Florida law, STSCDD shall ensure that Grantor agrees to place in escrow with the County tax collector an amount equal to the current ad valorem taxes and non- ad valorem assessments (with the exception of those ad valorem taxes and non-ad valorem assessments levied by the Districts) prorated to the date of transfer of title, based upon the expected assessment and millage rates giving effect to the greatest discount available for early payment.

If, and only to the extent the property acquired by STSCDD is subject to ad valorem taxes or non-ad valorem assessments, STSCDD shall ensure that Grantor agrees to reimburse STSCDD for payment, or pay on its behalf, any and all ad valorem taxes and non-ad valorem assessments imposed during the calendar year in which each parcel of property is conveyed.
Nothing in this Agreement shall prevent the Districts from asserting any rights to challenge any taxes or assessments imposed, if any, on any property of the Districts.

Notice. The Districts agree to provide notice to the other within thirty (30) calendar days of receipt of any notice of potential or actual taxes, assessments, or costs, as a result of any transaction pursuant to this Agreement, or notice of any other taxes, assessments, or costs imposed on the property acquired by the Districts as described in subsection a. above. The Districts covenant to make any payments due hereunder in a timely manner in accordance with Florida law.

Tax liability not created. Nothing herein is intended to create or shall create any new or additional tax liability on behalf of the Districts. Furthermore, the Districts reserve all respective rights to challenge, pay under protest, contest or litigate the imposition of any tax, assessment, or cost in good faith they believe is unlawfully or inequitably imposed and agree to cooperate in good faith in the challenge of any such imposition.

ACQUISITIONS AND FUTURE AMENITY BOND PROCEEDS. STNCDD
shall in good faith pursue the issuance of Future Amenity Bonds to finance its respective portions of the Amenities. In the event that STNCDD issues Future Amenity Bonds and has bond proceeds available to pay for any portion of the Amenities constructed or acquired by STSCDD on their behalf, and subject to the terms of the applicable documents relating to the Future Amenity Bonds, as applicable, then STNCDD shall promptly make payment for any such constructed or acquired Work Product or Improvements pursuant to the terms of this Agreement; provided, however, that in the event that either District’s bond counsel determines that any such acquisitions are not properly compensable for any reason, including, but not limited to federal tax restrictions imposed on tax-exempt financing, such District shall not be obligated to make payment for such construction or acquisitions. Pursuant to this Agreement, interest shall not accrue on any amounts owed for any prior acquisitions. In the event STNCDD does not or cannot issue sufficient bonds within five (5) years from the date of this Agreement to pay for all acquisitions hereunder, and, thus does not make payment to the STSCDD for any unfunded acquisitions, then STSCDD agrees that STNCDD shall have no payment or reimbursement obligation whatsoever for those unfunded acquisitions, unless otherwise provided for in connection with payment of any Note. The Districts acknowledges that the Districts may convey some or all of the Work Product and/or Improvements to a general purpose unit of local government (e.g., the County) and consents to the Districts’ conveyance of such Work Product and/or Improvements prior to any payment being made by the Districts.

DEFAULT. A default by any District under this Agreement shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of damages and/or specific performance.

INDEMNIFICATION. For all actions or activities which occur prior to the date of the acquisition of the relevant Real Property, Improvement or Work Product hereunder,
STSCDD agrees to indemnify and hold harmless STNCDD and its officers, staff, agents and employees from any and all liability, claims, actions, suits or demands by any person, corporation or other entity for injuries, death, property damage or claims of any nature arising out of, or in connection with, the Real Property, Improvement, or Work Product, including litigation or any appellate proceedings with respect thereto, irrespective of the date of the initiation or notice of the claim, suit, etc.; provided, however, that STSCDD shall not indemnify STNCDD for a default by the STNCDD under this Agreement or the use of such Real Property, Improvement or Work Product by the STSCDD, its engineers, employees, contractors, or such persons’ or entities’ negligence.

ATTORNEYS’ FEES AND COSTS. In the event that any District is required to enforce this Agreement by court proceedings or otherwise, then the Districts agree that the prevailing District shall be entitled to recover from the other all fees and costs incurred, including reasonable attorneys’ fees and costs for trial, alternative dispute resolution, or appellate proceedings.

AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by each District.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of each District; the Districts have complied with all the requirements of law; and the Districts have full power and authority to comply with the terms and provisions of this Agreement.

NOTICES. All notices, requests, consents and other communications under this Agreement (“Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the Districts, as follows:

If to STSCDD:	Scenic Terrace South Community Development District 219 East Livingston Street.
Orlando, Florida 32801 Attn: District Manager

With a copy to:	Kilinski | Van Wyk, PLLC
517 E. Collage Avenue Tallahassee, Florida 32301 Attn: District Counsel

If to STNCDD:	Scenic Terrace South Community Development District 219 East Livingston Street.
Orlando, Florida 32801 Attn:  District Manager

With a copy to:	Kilinski | Van Wyk, PLLC
517 E. Collage Avenue
Tallahassee, Florida 32301 Attn: District Counsel

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non- business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the Districts and counsel for the Developer may deliver Notice on behalf of the Districts and the Developer, respectively. Any District or other person to whom Notices are to be sent or copied may notify the other Districts and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the Districts and addressees set forth herein.

ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between STSCDD, STNCDD, as an arm’s length transaction. Both Districts participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, all Districts are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either of the Districts.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the Districts and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the Districts any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the Districts and their respective representatives, successors, and assigns.

ASSIGNMENT. Neither District may assign this Agreement or any monies to become due hereunder without the prior written approval of each of the other District.

TERMINATION. This Agreement may be terminated upon the earlier of (i) the District’s acquisition of all Work Product, Improvements, and Real Property related to the Amenities, and payment of the same, all as provided herein; or (ii) execution of an instrument in writing by each District providing for such termination.

APPLICABLE LAW AND VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each District consents that the venue for any litigation arising out of or related to this Agreement shall be in Polk County, Florida.
PUBLIC RECORDS. The Districts understand and agrees that all documents of any kind provided to the Districts in connection with this Agreement may be public records and treated as such in accordance with Florida law.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.

CONFLICTS.	To the extent that the terms of this Agreement conflict with the terms any other agreement between the Districts regarding the same subject, the Districts agree the terms of this Agreement shall control.

LIMITATIONS ON GOVERNMENTAL LIABILITY.	Nothing in this
Agreement shall be deemed as a waiver of immunity or limits of liability of the Districts beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other law, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred by sovereign immunity or by other operation of law.

HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

EFFECTIVE DATE. This Agreement shall be effective as of August   , 2023.

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WHEREFORE, the Districts below execute this Agreement.

Witness:
Scenic Terrace South Community Development District

 	

Print Name Witness:
Chairperson, Board of Supervisors

Attest: 	
Secretary

Print Name

Witness:
Scenic Terrace North Community Development District

 	
Print Name Witness:

Print Name
Chairperson, Board of Supervisors

Attest: 	
Secretary
Exhibit A Amenities

Section XV
CLIENT DISCLOSURE AND CONSENT

Kilinski | Van Wyk PLLC (“KVW”) presently serves as district counsel for the Scenic Terrace South Community Development District (the “District”). KVW additionally presently represents the Scenic Terrace North Community Development District (“STNCDD,” and together with the District, the “Parties”). KVW has been asked by STNCDD to represent its interests in relation to the anticipated acquisition and use of amenity facilities by the District, which representation includes, but is not limited to, the preparation of an interlocal agreement between STNCDD and the District addressing STNCDD’s contribution for the cost of the purchase, financing and maintenance of such facilities as well as its residents’ use of same. As a result of KVW’s existing representation of the District, if KVW agrees to represent STNCDD with respect to this matter, KVW may be confronted with an actual and/or potential conflict of interest under Florida Rule of Professional Conduct 4-1.7 of the Rules Regulating the Florida Bar.
KVW believes that it can provide competent and diligent representation of the Parties with respect to this matter. KVW also believes, based on conversations with the District and STNCDD, that the Parties’ interests are sufficiently aligned so as to allow for joint representation of the Parties. After discussion with KVW and the opportunity for discussion with independent counsel not affiliated with KVW regarding the actual and/or potential conflicts of interest described above, the District has determined that there is no conflict of interest that would adversely affect the responsibilities of KVW to the District due to the anticipated representation of DRSCDD. The District also acknowledges that STNCDD’s interests are not materially adverse to the interests of the District.  Accordingly, the District hereby waives any actual or
potential conflict of interest which may be presented by KVW’s representation of STNCDD with respect to this matter, as more specifically discussed with the District at its August 16, 2023 meeting of its Board of Supervisors.
Moreover, the District acknowledges and agrees that, while the representation of the District and STNCDD involves the achievement of a mutual goal of the Parties relative to District’s acquisition and use of the amenity facilities, in the event of a dispute between the District and STNCDD related to the purchase of the amenity facilities, KVW’ representation of the Parties related to the purchase of the amenity facilities will terminate and the Parties will be responsible for acquiring new legal representation with respect to any such dispute. Upon such termination, KVW shall take such actions as are reasonable and necessary to protect the interests of the Parties until replacement counsel for the purchase of the amenity facilities is procured, which procurement shall occur within a reasonable time.
As evidence of this disclosure and the consent of the District to KVW’s representation of STNCDD as discussed herein, the signature of a person authorized to give this consent appears below.

SCENIC TERRACE SOUTH COMMUNITY DEVELOPMENT DISTRICT

Warren K. Heath II, Chairman Board of Supervisors
Date: 	

Section XVI
UNIFORM COLLECTION AGREEMENT
DISTRICT

THIS AGREEMENT made and entered into this  16th		day of, August			 2023		 by and between  Scenic Terrace South Community Development District	 (“District”), whose address is  219 E. Livingston Street, Orlando, FL 32801				 and the Honorable Joe G. Tedder, State Constitutional Tax Collector in and for the Polk County Political Subdivision, whose address is Polk County Tax Collectors Office, P.O. Box 1189,
Bartow, Florida 33831-1189 (“Tax Collector”).

SECTION I

Findings and Determinations

The parties find and determine:

District is authorized to impose and levy, and by appropriate Resolution has expressed its intent to use the statutory uniform methodology of collection for, certain non-ad
valorem special assessments for	 Scenic Terrace South CDD		as authorized	
by constitutional and statutory municipal home rule and by section 197.3632, Florida Statutes (2012) and Rule 12D-18, Florida Administrative Code.

The term “Assessments” means those certain levies by the District which purport to
constitute non-ad valorem special assessments for	 Scenic Terrace South CDD		
improvements and related systems, facilities and services pursuant to	 Ordinance		
a non-ad valorem special assessment is lienable under Section 4, Article X, Florida Constitution, if it results in a special benefit peculiar to the parcels of property involved, over and above general community benefit, as a result of a logical connection to the property involved from the system, facility and service provided by the District and if it is apportioned to the property fairly and reasonably.

The uniform statutory collection methodology is provided in section 197.3632, Florida Statutes, and Rule 12D-18, Florida Administrative Code (“uniform methodology”), with its enforcement provisions, including the use of tax certificates and tax deeds for enforcing against any delinquencies; and

The uniform methodology is more fair to the delinquent property owner than traditional lien foreclosure methodology.

The uniform methodology provides for more efficiency of collection by virtue of the Assessment being on the official tax notice issued by the Tax Collector which will produce positive economic benefits to the District and its citizens; and

The uniform methodology, through use of the official tax notice, will tend to eliminate confusion.
The Tax Collector, as the State Constitutional Officer for the county political subdivision, charged by general law in Chapter 197, Florida Statutes, and related rules and regulations, to function as the agent of the Florida Department of Revenue for purposes of the uniform methodology for the Assessments.

The sole and exclusive responsibility to determine, impose and levy the Assessments and to determine that it is a legal, constitutional and lienable non-ad valorem
special assessment for	Scenic Terrace South CDD	and related systems, facilities and services	
is that of the District and no other person, entity or officer.

SECTION II

Applicable Law and Regulations

Section 2, Article VIII, Florida Constitution; Chapter 170, Florida Statutes; sections 197.3631, 3632 and 3635, Florida Statutes; Rule 12D-18, Florida Administrative Code; and all other applicable provisions of constitutional and statutory law, govern the exercise by the District of its local self-government power to render and pay for municipal services.

Section 1(d), Article VIII, Florida Constitution; Chapter 197, Florida and other applicable provisions of constitutional and statutory law apply to Tax Collector in his capacity as a state constitutional county officer and agent of the Florida Department of Revenue for purpose the of collecting and enforcing the collection of non-ad valorem special assessments levied by District.

Section 197.3631, Florida Statutes, constitutes supplemental authority for District to levy non-ad valorem assessments including such non-ad valorem special assessments as the
“Assessments” for	 Scenic Terrace South CDD 	and related systems, facilities and services.	

Section 197.3632, Florida Statutes, and Rule 12D-18, Florida Administrative Code, have provisions that apply both to District and to Tax Collector, as well as, to the Department of Revenue and the Property Appraiser in and for the county.

SECTION III

Purpose

The purpose of this Agreement under Rule 12D-18, Florida Administrative Code, is to establish the terms and conditions under which the Tax Collector shall collect and enforce the collection of those certain non-ad valorem special assessments, the “Assessments,” levied by District to include compensation by District to the Tax Collector for actual costs of collection pursuant to section 197.3632(8)(c), Florida Statutes; payment by District of any costs involved in separate mailings because of non-merger of any non-ad valorem special assessment roll as
certified by the Chair of the Board of	 Scenic Terrace South Community Development District 	
or his or her designee, pursuant to section 197.3632(7), Florida Statutes; and reimbursement by District for necessary administrative costs, including, but not limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage and programming which attend all of the collection and enforcement duties imposed upon the Tax Collector by the uniform methodology, as provided in section 197.3632(2), Florida Statutes.

SECTION IV

Term

The term of this Agreement shall commence upon execution, effective for	2023	tax	
notice purposes, and shall continue and extend uninterrupted from year-to-year, automatically renewed for successive periods not to exceed one (1) year each, unless District shall inform the Tax Collector, as well as Property Appraiser and the Department of Revenue, by 10 January of each calendar year, if District intends to discontinue to use the uniform methodology for such Assessments pursuant to section 197.3632(6), Florida Statutes (2012) and Rule 12D-18.006(3), Florida Administrative Code, using form DR-412 promulgated by the Florida Department of Revenue.

SECTION V

Duties and Responsibilities of District

District agrees, covenants and contracts to:

Compensate the Tax Collector for collections on behalf of the special assessment district in the amount of two percent (2%) on the balance pursuant to section 192.091(2)(b), Florida Statutes and 12D-18.004(2), Florida Administrative Code. The Authority agrees the 2% will be deducted from the balance at the time of each distribution.

Reimburse Tax Collector for necessary administrative costs for the collection and enforcement of the Assessment by the Tax Collector under the uniform methodology, pursuant to section 197.3632(2), Florida Statutes, and Rule 12D-18.004(2), Florida Administrative Code, to include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage and programming.

To pay for or alternatively to reimburse the Tax Collector for any separate tax notice necessitated by the inability of the Tax Collector to merge the non-ad valorem special assessment roll certified by District pursuant to section 197.3632(7), Florida Statutes and Rule 12D-18.004(2) Florida Administrative Code.

District upon being timely billed shall pay directly for necessary advertising relating to implementation of the uniform non-ad valorem special assessment law pursuant to sections 197.3632 and 197.3635, Florida Statutes, and Rule 12D-18.004(2), Florida Administrative Code.

5.	By 15 September of each calendar year, the Chair of the	
Scenic Terrace South Community Development District	
of the District, or his or her designee, shall certify, using DR Form 408 to the Tax Collector the non-ad valorem assessment (“Assessment”) roll on compatible electronic medium, tied to the property parcel identification number, and otherwise in conformance with the ad valorem tax rolls submitted by the Property Appraiser in July to the Department of Revenue. District or its agent on behalf of District shall post the non-ad valorem special assessment for each parcel on the said non- ad valorem assessment roll and shall exercise its responsibility that such non-ad valorem assessment roll be free of errors and omissions. Section 197.3632(10), Florida Statutes, and Rule 12D-18.006, Florida Administrative Code.

District agrees to abide by and implement its duties under the uniform law pursuant to all the provisions of sections 197.3632 and 197.3635, Florida Statutes, or its successor of statutory provisions and all applicable rules promulgated by the Department of Revenue and their successor rules.

District acknowledges that the Tax Collector has no duty, authority or responsibility in the imposition and levy of any non-ad valorem special assessments, including the District’s “Assessment” and that it is the sole responsibility and duty of District to follow all procedural and substantive requirements for the levy and imposition of constitutionally lienable non-ad valorem special assessments, including the Assessments.

District shall indemnify and hold harmless Tax Collector to the extent of any legal action which may be filed in local, state or federal courts against Tax Collector regarding the imposition, levy, roll preparation and certification of the Assessments; District shall pay for or reimburse Tax Collector for fees for legal services rendered to Tax Collector with regard to any such legal action. Nothing herein shall be deemed or construed as a waiver of sovereign immunity by the Tax Collector or the District, and the parties shall have and maintain at all times and for all purposes any and all rights, immunities and protections available under controlling legal precedent as provided under Section 768.28, Florida Statute, or its successor and as provided under other applicable law.

SECTION VI

Duties of the Tax Collector

The Tax Collector shall merge timely the legally certified “Assessment” roll of the District with all non-ad valorem assessment rolls, merge said rolls with the tax roll, prepare a collection roll and prepare a combined notice (the tax notice) for both ad valorem taxes and non- ad valorem special assessments for all levying authorities within the county political subdivision, pursuant to sections 197.3632 and 197.3635, Florida Statutes, and its successor provisions, and any applicable rules, and their successor rules, promulgated by the Department of Revenue, and in accordance with any specific ordinances or resolutions adopted by district, so long as said ordinances and resolutions shall themselves each and every one clearly state intent to use the uniform method for collecting such assessments and so long as they are further not inconsistent
with, or contrary to, the provisions of sections 197.3632 and 197.3635, Florida Statutes, and their successor provisions, and any applicable rules.

Tax Collector shall collect the Assessments of District as certified by the Chair of
the 		Scenic Terrace South CDD		or his or her designee, to the Tax	
Collector no later than 15 September of each calendar year on compatible electronic medium, tied to the property identification number for each parcel, and in the format used in July by the Property Appraiser for the ad valorem rolls submitted to the Department of Revenue, using, DR Form 408, and free of errors or omissions.

The Tax Collector agrees to cooperate with District in implementation of the uniform methodology for collecting Assessments pursuant to sections 197.3632 and 197.3635, Florida Statutes, and any successor provisions and applicable rules. The Tax Collector shall not accept any non-ad valorem assessment roll for the Assessments of District that is not officially, timely and legally certified to the Tax Collector pursuant to Chapter 197, Florida Statutes, and Rule 12D-18, Florida Administrative Code.

If the Tax Collector discovers errors or omissions on such roll, Tax Collector may request District to file a corrected roll or a correction of the amount of any assessment and District shall bear the cost of any such error or omission.

If Tax Collector determines that a separate mailing is authorized pursuant to section 197.3632(7), Florida Statutes, and any applicable rules promulgated by the Department of Revenue, and any successor provision to said law or rules, the Tax Collector shall either mail a separate notice of the particular non-ad valorem special assessment (“Assessment”) or shall direct District to mail such a separate notice. In making this decision, the Tax Collector shall consider all costs to District and to the taxpayers of such a separate mailing as well as the adverse effect to the taxpayers of delay in multiple notices. If such a separate mailing is effected, District shall bear all costs associated with the separate notice for the non-ad valorem special assessment that could not be merged, upon timely billing by the Tax Collector.

SECTION VII

Entire Agreement

The parties shall perform all their obligations under this agreement in accordance with good faith and prudent practice.

This agreement constitutes the entire agreement between the parties with respect to the subject matter contained herein and may not be amended, modified or rescinded, unless otherwise provided in this Agreement, except in writing and signed by all the parties hereto. Should any provision of this Agreement be declared to be invalid, the remaining provisions of this Agreement shall remain in full force and effect, unless such provision found to be invalid alter substantially the benefits of the Agreement for either of the parties or renders the statutory and regulatory obligations unperformable.
This Agreement shall be governed by the laws of the State of Florida.

Written notice shall be given to the parties at the following addresses, or such other place or person as each of the parties shall designate by similar notice:

a.	As to Tax Collector:	Address	Joe G. Tedder
P.O. Box 1189
Bartow, FL 33831-1189		
b.	As to District:	Address	Scenic Terrace South Community Development District	
		219 E. Livingston Street	
		Orlando, FL 32801	

IN WITNESS WHEREOF, the parties have hereunto set their hands and seals and such of them as are corporations have caused these presents to be signed by their duly authorized officers.

ATTEST:	POLK COUNTY TAX COLLECTOR

                              By: 		Joe G. Tedder		
Joe G. Tedder, Tax Collector	Printed Name	
Date:				
ATTEST:

		By: 	
Printed Name

ATTEST:
	 By:	Rennie Heath	
Printed Name
the Scenic Terrace South CDD

Section XVII

Section C

Section 1
Scenic Terrace South
Community Development District
Summary of Checks

June 01, 2023 through June 30, 2023

Bank	Date	Check No.'s	Amount	

General Fund				
	6/6/23	130-132	$	196,112.09	
	6/7/23	133	$	6,600.82	
	6/22/23	134-135	$	7,877.10	
	6/26/23	136-137	$	5,640.51	
	6/27/23	138-139	$	47,420.80	
	6/29/23	140-144	$	800,698.66	
			$	1,064,349.98	
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	8/10/23	PAGE	1
*** CHECK DATES 06/01/2023 - 06/30/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
6/06/23 00020	4/30/23 021637	202306 300-20700-10200	*	24,680.63
SER22 FR#10
ABSOLUTE ENGINEERING, INC.	24,680.63 000130
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/06/23 00018	5/15/23 129016	202306 300-20700-10200	*	167,931.46
SER22 FR#10
JR. DAVIS CONSTRUCTION CO. INC.	167,931.46 000131
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/06/23 00026	5/04/23 4-489040 202306 300-20700-10200	*	3,500.00
SER22 FR#10
RAYSOR TRANSPORTATION CONSULTING	3,500.00 000132
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/07/23 00002 12/12/22 5137	202211 310-51300-49100	*	448.50
BOUNDARY AMENDMENT FR#20
12/12/22 5138	202211 310-51300-49100	*	998.00
BOUNDARY AMENDMENT FR#20
2/21/23 5800	202301 310-51300-49100	*	897.00
BOUNDARY AMENDMENT FR#20
3/10/23 6033	202302 310-51300-49100	*	2,715.57
BOUNDARY AMENDMENT FR#20
3/10/23 6034	202302 310-51300-49100	*	511.00
BOUNDARY AMENDMENT FR#20
4/11/23 6423	202303 310-51300-49100	*	570.75
BOUNDARY AMENDMENT FR#20
4/11/23 6424	202303 310-51300-49100	*	460.00
BOUNDARY AMENDMENT FR#20
KILINSKI | VAN WYK, PLLC	6,600.82 000133
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
24	202306 310-51300-34000	*	3,062.50
MANAGEMENT FEES JUN23
24	202306 310-51300-35200	*	100.00
WEBSITE ADMIN JUN23
24	202306 310-51300-35100	*	150.00
INFORMATION TECH JUN23
24	202306 310-51300-31300	*	416.67
DISSEMINAION SVCS JUN23
24	202306 310-51300-51000	*	2.95
OFFICE SUPPLIES JUN23
24	202306 310-51300-42000	*	104.35
POSTAGE JUN23
GOVERNMENTAL MANAGEMENT SERVICES-	3,836.47 000134
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/22/23 00027	5/30/23 6938122	202305 310-51300-32300	*	4,040.63
FY23 TRUST FEE SER 2022
US BANK	4,040.63 000135
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
STS	SCENIC TERRACE IARAUJO
AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	8/10/23	PAGE	2
*** CHECK DATES 06/01/2023 - 06/30/2023 ***	SCENIC TERRACE SOUTH-GENERAL
BANK A GENERAL FUND
CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS				AMOUNT	#
6/26/23 00013	6/21/23 2295281- 202305 310-51300-31100	*	2,844.01
ENGINEERING SVCS MAY23
DEWBERRY ENGINEERS INC.	2,844.01 000136
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/26/23 00002	6/13/23 6830	202305 310-51300-31500	*	2,796.50
GENERAL COUNSEL MAY23
KILINSKI | VAN WYK, PLLC	2,796.50 000137
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/27/23 00028	5/03/23 PO#12	202306
SER22 FR#11 5/03/23 PO#2123O 202306
SER22 FR#11
FERGUSON WATERWORKS	28,256.34 000138
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/27/23 00019	5/25/23 PAYAPP#1 202306 300-20700-10200	*	19,164.46 SER22 FR#11
TUCKER PAVING INC.	19,164.46 000139
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/29/23 00013	5/24/23 2281713- 202306 300-20700-10200	*	892.50
SER22 FR#13
DEWBERRY ENGINEERS INC.	892.50 000140
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/29/23 00021	5/31/23 FES14971 202306 300-20700-10200	*	55,264.00 SER22 FR#13
FAULKNER ENGINERING SERVICES INC.	55,264.00 000141
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/29/23 00018	5/15/23 129015	202306 300-20700-10200	*	740,257.50
SER22 FR#12
JR. DAVIS CONSTRUCTION CO. INC.	740,257.50 000142
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/29/23 00019	5/16/23 PAYAPP#R 202306 300-20700-10200	*	1,008.66 SER22 FR#13
TUCKER PAVING INC.	1,008.66 000143
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
6/29/23 00029	5/22/23 1207	202306 300-20700-10200	*	3,276.00
SER22 FR#13
WILDMON CONSTRUCTION LLC	3,276.00 000144
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	1,064,349.98
TOTAL FOR REGISTER	1,064,349.98

STS	SCENIC TERRACE IARAUJO

Section 2

Scenic Terrace South
Community Development District

Unaudited Financial Reporting
June 30, 2023

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2022	

5	
	Capital Projects Fund Series 2022	

6-7	
	Month to Month	

8	
	Long Term Debt Schedule	
Scenic Terrace South
Community Development District Combined Balance Sheet
June 30, 2023

Assets:
Operating Account	
$	
77,981	$	-	$	
-	$	77,981		
Due from Developer Investments:
Series 2022
Reserve	$

$	5,242	$	-	$

-	$	1,368,497	$	47,565	$	52,806

-	$	1,368,497		
Revenue	$	-	$	184,569	$	-	$	184,569		
Interest	$	-	$	2,931	$	-	$	2,931		
Prepayment	$	-	$	1,187,681	$	1,187,681		
Construction	$	-	$	-	$	86	$	86		
Total Assets	$	83,223	$	2,743,678	$	47,650	$	2,874,552			
Liabilities:
Accounts Payable	
$	15,729	$	-	$	47,565	
$	63,294			
Retainage Payable	$	-	$	-	$	175,757	$	175,757			
Total Liabilites	$	15,729	$	-	$	223,321	$	239,050			
Fund Balance: Restricted for: Debt Service	

$	-	$	2,743,678	$	-	

$	2,743,678			
Capital Projects	$	-	$	-	$	(175,671)	$	(175,671)			
Unassigned	$	67,494	$	-	$	-	$	67,494	
Total Fund Balances	$	67,494	$	2,743,678	$	(175,671)	$	2,635,501	
					
Total Liabilities & Fund Balance	$	83,223	$	2,743,678	$	47,650	$	2,874,552	
Scenic Terrace South
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

	Adopted	Prorated Budget	Actual						
	Budget	Thru 06/30/23	Thru 06/30/23	Variance					

Revenues:									

Assessments - Lot Closings	
$	
-	
$	
-	
$	
98,192	
$	
98,192	
Developer Contributions	$	417,811	$	13,000	$	13,000	$	-	
Boundary Amendment Contributions	$	-	$	-	$	22,964	$	22,964	
Total Revenues	$	417,811	$	13,000	$	134,155	$	121,155					

Expenditures:									
General & Administrative:									
Supervisor Fees	$	12,000	$	9,000	$	4,400	$	4,600					
Engineering	$	15,000	$	11,250	$	6,497	$	4,753					
Attorney	$	25,000	$	18,750	$	8,542	$	10,208					
Annual Audit	$	5,000	$	-	$	-	$	-					
Assessment Administration	$	5,000	$	-	$	-	$	-					
Arbitrage	$	500	$	-	$	-	$	-					
Dissemination	$	5,000	$	3,750	$	3,750	$	(0)					
Trustee Fees	$	4,041	$	4,041	$	4,041	$	-					
Management Fees	$	36,750	$	27,563	$	27,563	$	-					
Information Technology	$	1,800	$	1,350	$	1,350	$	-					
Website Maintenance	$	1,200	$	900	$	900	$	-					
Postage & Delivery	$	1,000	$	750	$	247	$	503					
Insurance	$	5,000	$	5,000	$	5,000	$	-					
Copies	$	1,000	$	750	$	-	$	750					
Legal Advertising	$	18,500	$	13,875	$	13,940	$	(65)					
Boundary Amendment Expenses	$	-	$	-	$	21,465	$	(21,465)					
Contingency	$	5,300	$	3,975	$	-	$	3,975					
Office Supplies	$	625	$	469	$	14	$	454					
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-					
Total General & Administrative	$	142,891	$	101,597	$	97,884	$	3,713					
Scenic Terrace South
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Operations & Maintenance					
Field Expenditures
Property Insurance	
$	5,000	
$	-	
$	-	
$	-	
Field Management	$	15,000	$	-	$	-	$	-	
Landscape Maintenance	$	55,000	$	-	$	-	$	-	
Landscape Replacement	$	7,500	$	-	$	-	$	-	
Lake Maintenance	$	15,000	$	-	$	-	$	-	
Streetlights	$	12,000	$	-	$	-	$	-	
Electric	$	5,000	$	3,750	$	265	$	3,485	
Water & Sewer	$	5,000	$	-	$	-	$	-	
Sidewalk & Asphalt Maintenance	$	5,000	$	-	$	-	$	-	
Irrigation Repairs	$	5,000	$	-	$	-	$	-	
General Repairs & Maintenance	$	15,000	$	-	$	-	$	-	
Contingency	$	5,000	$	-	$	-	$	-	
Subtotal Field Expenditures	$	149,500	$	3,750	$	265	$	3,485	

Amenity Expenditures
Amenity - Electric	

$	15,000	

$	-	

$	-	

$	-	
Amenity - Water	$	10,000	$	-	$	-	$	-	
Playground Lease	$	25,000	$	-	$	-	$	-	
Internet	$	3,000	$	-	$	-	$	-	
Pest Control	$	720	$	-	$	-	$	-	
Janitorial Service	$	5,500	$	-	$	-	$	-	
Security Services	$	30,000	$	-	$	-	$	-	
Pool Maintenance	$	16,200	$	-	$	-	$	-	
Amenity Repairs & Maintenance	$	10,000	$	-	$	-	$	-	
Amenity Access Management	$	5,000	$	-	$	-	$	-	
Contingency	$	5,000	$	-	$	-	$	-	
Subtotal Amenity Expenditures	$	125,420	$	-	$	-	$	-	
					
Total Operations & Maintenance	$	274,920	$	3,750	$	265	$	3,485	
					
Total Expenditures	$	417,811	$	105,347	$	98,149	$	7,198	
					
Excess (Deficiency) of Revenues over Expenditures	$	(0)		$	36,006		
					
Fund Balance - Beginning	$	-		$	31,487		
					
Fund Balance - Ending	$	(0)		$	67,494		
Scenic Terrace South
Community Development District Debt Service Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

	Adopted	Prorated Budget	Actual		
	Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues:					
Assessments	$	499,816	$	122,987	$	122,987	$	-	
Assessments - Prepayments	$	-	$	-	$	1,182,000	$	1,182,000	
Interest	$	-	$	-	$	59,087	$	59,087	
Total Revenues	$	499,816	$	122,987	$	1,364,074	$	1,241,087	

Expenditures:					
Series 2022
Interest - 11/1	
$	569,234	
$	569,234	
$	569,234	
$	-	
Interest - 5/1	$	499,816	$	499,816	$	499,816	$	-	
Total Expenditures	$	1,069,050	$	1,069,050	$	1,069,050	$	-	
					
Excess (Deficiency) of Revenues over Expenditures	$	(569,234)		$	295,024		

Other Financing Sources/(Uses):					
Transfer In/(Out)	$	-	$	-	$	2,931	$	2,931	
Total Other Financing Sources/(Uses)	$	-	$	-	$	2,931	$	2,931	
					
Net Change in Fund Balance	$	(569,234)		$	297,955		
					
Fund Balance - Beginning	$	1,069,883		$	2,445,723		
					
Fund Balance - Ending	$	500,649		$	2,743,678		
Scenic Terrace South
Community Development District Capital Projects Fund Series 2022
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending June 30, 2023

Adopted	Prorated Budget	Actual		
Budget	Thru 06/30/23	Thru 06/30/23	Variance	

Revenues					
Developer Contributions	$	-	$	-	$	4,280,116	$	4,280,116	
Interest	$	-	$	-	$	89,454	$	89,454	
Total Revenues	$	-	$	-	$	4,369,570	$	4,369,570	

Expenditures:					
Capital Outlay - Construction	$	-	$	-	$	13,064,468	$ (13,064,468)	
Total Expenditures	$	-	$	-	$  13,064,468	$ (13,064,468)	
					
Excess (Deficiency) of Revenues over Expenditures	$	-	$	(8,694,898)		

Other Financing Sources/(Uses)					
Transfer In/(Out)	$	-	$	-	$	(2,931)	$	(2,931)	
Total Other Financing Sources (Uses)	$	-	$	-	$	(2,931)	$	(2,931)	
					
Net Change in Fund Balance	$	-	$	(8,697,829)		
					
Fund Balance - Beginning	$	-	$	8,522,158		
					
Fund Balance - Ending	$	-	$	(175,671)		
Scenic Terrace South
Community Development District Month to Month

Revenues:

Assessments - Lot Closings Developer Contributions

$	-	$
$	-	$

-	$	-	$
-	$	-	$

-	$	-	$
-	$	-	$

-	$
13,000  $

98,192  $
-	$

-	$	-	$
-	$	-	$

-	$	-	$
-	$	-	$

-	$	98,192
-	$	13,000
Boundary Amendment Contributions	$	1,864	$	2,310	$	-	$	3,135	$	-	$	3,098	$	716	$	6,601	$	5,242	$	-	$	-	$	-	$	22,964	
Total Revenues	$	1,864	$	2,310	$	-	$	3,135	$	-	$	16,098	$	98,907	$	6,601	$	5,242	$	-	$	-	$	-	$	134,155	

Expenditures:											
General & Administrative:											
Supervisor Fees	$	-	$	800	$	1,000	$	-	$	1,000	$	-	$	1,000	$	600	$	-	$	-  $	-  $	-  $	4,400	
Engineer Fees	$	-	$	255	$	145	$	-	$	255	$	-	$	-	$	3,209	$	2,633	$	-  $	-  $	-  $	6,497	
Attorney Fees	$	209	$	186	$	871	$	570	$	760	$	376	$	1,823	$	2,797	$	953	$	-  $	-  $	-  $	8,542	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Assessment Adminstration	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Dissemination	$	417	$	417	$	417	$	417	$	417	$	417	$	417	$	417	$	417	$	-  $	-  $	-  $	3,750	
Arbitrage	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Trustee Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	4,041	$	-	$	-  $	-  $	-  $	4,041	
Management Fees	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	3,063	$	-  $	-  $	-  $	27,563	
Information Technology	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	150	$	-  $	-  $	-  $	1,350	
Website Maintenance	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	100	$	-  $	-  $	-  $	900	
Postage & Delivery	$	1	$	2	$	2	$	4	$	9	$	5	$	39	$	80	$	104	$	-  $	-  $	-  $	247	
Insurance	$	5,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	5,000	
Copies	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Legal Advertising	$	-	$	661	$	1,130	$	-	$	-	$	-	$	5,246	$	-	$	6,902	$	-  $	-  $	-  $	13,940	
Boundary Amendment Expenses	$	2,675	$	3,262	$	4,143	$	1,888	$	3,227	$	1,031	$	3,018	$	2,224	$	-	$	-  $	-  $	-  $	21,465	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	-	
Office Supplies	$	0	$	0	$	3	$	3	$	0	$	3	$	0	$	3	$	3	$	-  $	-  $	-  $	14	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $	-  $	-  $	175	
Total General & Administrative	$	11,789	$	8,895	$	11,023	$	6,193	$	8,980	$	5,143	$	14,855	$	16,683	$	14,324	$	-  $	-  $	-  $	97,884	
Scenic Terrace South
Community Development District Month to Month

	Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total		
Operations & Maintenance															
Field Expenditures
Property Insurance	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-  $		

-	
Field Management	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Landscape Replacement	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Lake Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Streetlights	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Electric	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	
Water & Sewer	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	

Amenity Expenditures
Amenity - Electric	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-  $		

-	
Amenity - Water	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Playground Lease	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Internet	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Pest Control	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Janitorial Service	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Security Services	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Pool Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Amenity Access Management	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
Subtotal Amenity Expenditures	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-  $		-	
															
Total Operations & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	265	$	-	$	-	$	-	$	-	$	-  $		265	

Total Expenditures	$	11,789	$	8,895	$	11,023	$	6,193	$	8,980	$	5,143	$	15,120	$	16,683	$	14,324	$	-	$	-	$	-	$	98,149	
														
Excess (Deficiency) of Revenues over Expenditures	$	(9,925)	$	(6,585)	$	(11,023)	$	(3,058)	$	(8,980)	$	10,955	$	83,787	$	(10,082)	$	(9,082)	$	-	$	-	$	-	$	36,006	
SCENIC TERRACE SOUTH
Community Development District Long Term Debt Report

SERIES 2022, SPECIAL ASSESSMENT REVENUE BONDS		
INTEREST RATE:	3.750%, 4.125%, 4.500%, 4.625z%	
MATURITY DATE:	5/1/2053	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$1,368,497	
RESERVE FUND BALANCE	$1,368,497	
BONDS OUTSTANDING - 04/06/22	$22,350,000	
CURRENT BONDS OUTSTANDING	$22,350,000