Hammock Reserve Community Development District
Agenda May 5, 2021
-.   ·-	

April 28, 2021
Hammock Reserve
Community Development District
219 East Livingston Street, Orlando, Florida 32801 Phone: 407-841-5524 – Fax: 407-839-1526

Board of Supervisors Hammock Reserve
Community Development District

Dear Board Members:

A meeting of the Board of Supervisors of the Hammock Reserve Community Development District will be held Wednesday, May 5, 2021 at 10:45 AM at the Holiday Inn—Winter Haven, 200 Cypress Gardens Blvd., Winter Haven, FL 33880.

Zoom Call-In Information: 1-646-876-9923
Meeting ID: 953 7209 8774

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 April 6, 2021 Board of Supervisors Meeting
Presentation of Supplemental Engineer’s Report for Phase 2
Presentation of Supplemental Assessment Methodology for Phase 2 (AA2 Bonds)
Consideration of Resolution 2021-09 Supplemental Assessment Resolution (Series 2021AA2)
A. Consideration of Notice of Lien of Special Assessments (Series 2021 AA2)
Staff Reports
Attorney
Engineer
District Manager’s Report
Approval of Check Register
Balance Sheet & Income Statement

1 Comments will be limited to three (3) minutes
Ratification of Summary of Series 2020 (AA1) Requisitions #43 to #48
Other Business
Supervisors Requests and Audience Comments
Adjournment

The second order of business is the Public Comment Period.

The third order of business is the Approval of Minutes of the April 6, 2021 Board of Supervisors Meeting. The minutes are enclosed for your review.

The fourth order of business is the Presentation of Supplemental Engineer’s Report for Phase
A copy of the report is enclosed for your review.

The fifth order of business is the Presentation of Supplemental Assessment Methodology for Phase 2 (AA2 Bonds). A copy of the report is enclosed for your review.

The sixth order of business is the Consideration of Resolution 2021-09 Supplemental Assessment Resolution (Series 2021 AA2). The resolution is enclosed for your review. Section A is the Consideration of Notice of Lien of Special Assessments (Series 2021 AA2). The notice is enclosed for your review.

The seventh order of business is Staff Reports. Section C is the District Manager’s Report. Sub-Section 1 is the Approval of the Check Register and Sub-Section 2 is the Balance Sheet and Income Statement for your review. Sub-Section 3 is the Ratification of Summary of Series 2020 (AA1) Requisitions #43 to #48 for your review.

The balance of the agenda will be discussed at the meeting. In the meantime, if you should have any questions, please do not hesitate to contact me.
Sincerely, Jill Burns
District Manager

CC:	Roy Van Wyk, District Counsel Enclosures

M	I NUTES
MINUTES OF MEETING HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Hammock Reserve Community Development District was held Wednesday, April 6, 2021 at 1:30 p.m. at 346 E. Central Ave., Winter Haven, Florida.

Present and constituting a quorum:

Lauren Schwenk	Vice Chairperson
Patrick Marone	Assistant Secretary
Matthew Cassidy	Assistant Secretary
Andrew Rhinehart via Zoom	Assistant Secretary

Also present were:

Jill Burns	District Manager, GMS
Michelle Rigoni	Hopping Green & Sams
Dennis Wood	District Engineer
Ashton Bligh	Greenberg Traurig
Bob Gang	Greenberg Traurig

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

SECOND ORDER OF BUSINESS	Public Comment Period
Ms. Burns stated that there were no members of the public present.

THIRD ORDER OF BUSINESS	Approval of Minutes of the March 10,
2021 Board of Supervisors Meeting
Ms. Burns presented the March 10, 2021 Board of Supervisors meeting minutes and asked for any comments, changes, or corrections. The Board had no changes to the minutes.
April 6, 2021	Hammock Reserve CDD

FOURTH ORDER OF BUSINESS	Presentation  of  Supplemental Engineer’s
Report for Phase 2
Mr. Wood stated the purpose of the Supplemental Engineer’s Report was to amend exhibit 7 which was the summary of probable cause of the Engineer’s Report. Phase 1 of the reports exhibits remained unchanged. Additionally, they modified exhibit 10 which was the legal description for the additional parcels. Exhibit 7 was reduced based on the actual cost that went down based on the actual construction cost on the project. The new total is $4,796,000.00.

FIFTH ORDER OF BUSINESS	Presentation of Supplemental Assessment
Methodology for Phase 2 (AA2 Bonds)
Ms. Burns noted this will be updated with final pricing once it is available. This outlines Phase 2 issuance with 206 lots which are similar size and types. Table 2 reflects the updated cost Mr. Wood outlined in his report. The bond sizing is $4,810,000.

SIXTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-07
Delegation Resolution (AA2)
Ms. Bligh presented the resolution and noted this is a supplemental resolution that was contemplated when the Board adopted the original resolution in December of 2019. This resolution contains certain documents such as Assessment Area 2 bonds, Second Supplemental Trust Indenture, Bond Purchase Contract, Preliminary Limited Offering Memorandum, Rule 15c212 Certificate, and a Continuing Disclosure Agreement.

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April 6, 2021	Hammock Reserve CDD

SEVENTH ORDER OF BUSINESS	Consideration  of  Series  2021  Developer
Agreements (AA2)
True-Up Agreement
Ms. Burns stated this agreement is with JMBI Real Estate, LLC. She stated this agreement outlines the landowners and District to enter into agreement to confirm the landowners intent and obligation required to make true up payments related to the Assessment Area 2 special assessments if necessary.

Acquisition Agreement
Ms. Burns stated that in order to avoid a delay in the commencement of the construction of the improvements the landowner has advance funded or completed certain improvements in the District. The District desires to acquire certain work products or improvements or accept assignment or certain agreements related to this assessment area.

Completion Agreement
Ms. Burns stated that the landowner requested that the District limit the amount of assessments imposed onto the assessment area by allowing the landowner to directly fund a portion of this project. The landowner is agreeing to provide funds to the District to complete the portion of the Assessment Area 2 project not funded by the bond proceeds.

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April 6, 2021	Hammock Reserve CDD

Collateral Assignment Agreement
Ms. Burns stated this agreement outlines in the event of default the landowner will assign certain development rights to the District in order to enable the District or third party to complete the development of the Assessment Area 2 project.

Declaration of Consent
Ms. Burns stated the landowner confirms and agrees that the debt assessments have been adopted by the Board and all the proceedings undertaken by the District have been in accordance with Florida law. Also, the District has taken all action necessary to levy and impose the Assessment Area 2 assessments.

EIGHTH ORDER OF BUSINESS	Consideration	of	Resolution	2021-08
Approving the Proposed Fiscal Year 2022 Budget (Suggested Date: July 6, 2021), Declaring Special Assessments, and Setting the Public Hearings on the Fiscal Year 2022 Budget and the Imposition of Operations & Maintenance Assessments
Ms. Burns presented the resolution which was in the agenda package. The budget has two additional bond issuances. The budget was approved as presented.

NINTH ORDER OF BUSINESS	Consideration of Rule G-17 Disclosure
Letter with FMS Bonds
Ms. Burns stated this is for underwriting services for the Phase 2 issuance.

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April 6, 2021	Hammock Reserve CDD

TENTH ORDER OF BUSINESS	Staff Reports
Attorney
Ms. Rigoni updated the Board on the Boundary Amendment. The Boundary Amendment hearing is scheduled for April 15th, 2021. She added they would report back with any legislative updates that might relevant to District business.

Engineer
There being none, the next item followed.

District Manager’s Report
There being none, the next item followed.

Approval of Check Register
Ms. Burns presented the check register from the month of March with a total amount of
$10,255.13.

Balance Sheet & Income Statement
Ms. Burns stated that the financials through February 28th 2021 were included in the packet for review and there is no action necessary unless there were any questions. The Board had no questions on the financials.

Ratification of Summary of Series 2020 (AA1) Requisitions #37 to #42
Ms. Burns noted these have been approved they just need to be ratified by the Board.

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April 6, 2021	Hammock Reserve CDD

ELEVENTH ORDER OF BUSINESS	Other Business
There being none, the next item followed.

TWELTH ORDER OF BUSINESS	Supervisors	Requests	and Audience comments
There being none, the next item followed.

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

Secretary/Assistant Secretary	Chairman/Vice Chairman

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SECTION IV

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

SUPPLEMENTAL ENGINEER’S REPORT FOR CAPITAL IMPROVEMENTS

PREPARED FOR: BOARD OF
SUPERVISORS HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

PREPARED BY:

1925 Bartow Road  Lakeland, FL 33801  863-940-2040

MARCH 25, 2021

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS

PURPOSE	1
EXHIBIT 7 – SUMMARY OF PROBABLE COST	1
EXHIBIT 10 – ASSESSMENT AREA TWO LEGAL DESCRIPTION…	1
CAPITAL IMPROVEMENTS
LIST OF TABLES & EXHIBITS
EXHIBIT 7–SUMMARY OF PROBABLE COST…	2
EXHIBIT 10 – ASSESSMENT AREA TWO LEGAL DESCRIPTION…	3-4
HAMMOCK RESERVE CDD SUPPLEMENTAL ENGINEER 'S REPORT

PURPOSE

The purpose of this report is to amend Exhibit 7 (Summary of Probable Costs) of the Engineer’s Report for the Hammock Reserve Community Development District dated December 17, 2019. Phase 1 remains unchanged, but the cost projections for Phase
2 have been adjusted to reflect current construction costs. Included in this Supplemental Engineer’s Report for Capital Improvements is an amendment to Exhibit 7 (Summary of Probable Cost) and Exhibit 10 (Assessment Area Two Legal Description).

EXHIBIT 7 (SUMMARY OF PROBABLE COST)
The cost projections for Phase 2 were adjusted to reflect current construction costs.

EXHIBIT 10 (ASSESSMENT AREA TWO LEGAL DESCRIPTION)
A legal description has been provided for Assessment Area Two (Phase 2 – 206 lots).

THE CAPITAL IMPROVEMENTS

The Capital Improvement Plan, (the “CIP”), consists of public infrastructure in Phases 1 and 2. The primary portions of the CIP will entail stormwater pond construction, roadways built to an "urban" typical section, water and sewer facilities 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 on-site retention 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. Below ground installation of telecommunications and cable TV will occur, but will not be funded by the District. The CDD will enter into a lighting agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way on District Land is included.
As a part of the recreational component of the CIP, a public park/amenity center will be within the development The public park/amenity center will have connectivity via sidewalks to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.
The improvements will be on land that upon acquisition of the improvement by the District, is owned by, or subject to a permanent easement in favor of, the district or another governmental entity.

Exhibit 7 Hammock Reserve
Community Development District Summary of Probable Cost

Infrastructure( l l(   9 l(   1  0l	Phase 2
(206 Lots)
2021-2023		
Offsite Improvements 151151	$ 150,000.00		
Stormwater Management 12113 115 1151	$ 510,000.00		
Utilities (Water, Sewer, & Street Lighting) 15 115 113 1	$1,780,000.00		
Roadway 1•115 1151	$1,380,000.00		
Entry Feature 151171	$ 300,000.00		
Parks and Recreational Facilities (l)(GJ		$    240,000.00
436,000.00	

Notes:
	Infrastructure consists of offsite improvements, public roadway improvements, stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and parks and recreational facilities.
Excludes grading of each lot both for initial pad construction, lot finishing in conjunction with home construction, which will be provided by developer or homebuilder.
Includes stormwater pond excavation. Costs do not include transportation to or placement of fill on private property.
Includes sub-grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Estimates are based on 2021cost.
Includes entry features, signage, hardscape, landscape, irrigation and buffer fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way and on District land is included.
Estimates based on Master Infrastructure to support development of all lots.
All financed improvements will be on land owned by, or subject to a permanent easement for the benefit of the District or another government entity.

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HAMMOCK RESERVE CDD ASSESSMENT AREA TWO LEGAL DESCRIPTION

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, AND THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF COUNTY ROAD NO. 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TO D E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN O.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: ALL THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND ALL THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 {OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), LYING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°02'56"W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.75 FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD RIGHT OF WAY; THENCE CONTINUE  N00°02'56"W ALONG SAID WEST BOUNDARY,
81.65 FEET; THENCE S65°19'34"E, 515.47 FEET; THENCE S65°43'55"E, PARALLEL WITH, AND 30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF N56°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'00"E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION, AND THE SOUTHERLY PROJECTION OF THAT WEST BOUNDARY, 617.29 FEET TO ITS INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65°43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE CONCAVED SOUTHWESTERLY, HAVING  A RADIUS OF 2869.35 FEET, A CENTRAL  ANGLE OF 09°40'02",  A CHORD  BEARING  OF

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N70°34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS: (REVISED 4/9/2020}

COMMENCE AT A 4"X4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13"-W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00002'13"-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55'33"-E, 135.45 FEET; THENCE N-00°04'27"-W, 44.46 FEET; THENCE N-89°55'33"-E, 50.00 FEET; THENCE N-00°04'27" -W, 60.54 FEET; THENCE N-89°55'33"-E, 200.00 FEET; THENCE S-00°04'27"-E, 110.00 FEET; THENCE S-89°55'33"-W, 5.00 FEET; THENCE S-00°04'27"-E, 50.00 FEET;  THENCE  S-89°55'33"-W, 97.72  FEET; THENCE  5-00°04'27"­ E, 380.00 FEET; THENCE N-89°55'33"-E, 992.72 FEET; THENCE N-00°04'27"-W, 85.00 FEET; THENCE N- 89055'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 23.43 FEET; THENCE N-89°55'33" -E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) 5-00°04'27"-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145,00 FEET; A CENTRAL ANGLE/DELTA OF 91°36'40", A CHORD BEARING OF 5-45°52'47"-E, A CHORD DISTANCE OF
207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18'53"-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27°49'07", A CHORD BEARING OF 5-77°46'34"-E, A CHORD DISTANCE OF 36,06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) 5-63°52'00"-E, 68.61 FEET; THENCE 4) 5-00°16'21"-E, 60.00 FEET; THENCE 5) 5- 63052'00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, 5-00°16'19"-E,  408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL  ANGLE/DELTA  OF 114°32'03",  A CHORD  BEARING  OF 5-56°59'53"-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43'55"-W, 1831.08 FEET; THENCE N-65°19'34" -W, 460.35 FEET; THENCE  ALONG  A  NON-RADIAL  LINE,  N-00°02'13"- W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00°56'39" A CHORD BEARING OF N-75°36'08"-W, A CHORD DISTANCE OF 51.63 FEET, FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/-ACRES.

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SECTION V

SUPPLEMENTAL
ASSESSMENT METHODOLOGY (PHASE 1WO)

FOR

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

Date: April 20, 2021

Prepared by

Governmental Management Services - Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents
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	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
3.0 True-Up Mechanism	8
4.0 Assessment Roll..................·	8
5.0 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 Hammock Reserve 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 Hammock Reserve Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Hammock Reserve 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 has issued $4,990,000 of tax-exempt bonds (the "Bonds") for the purpose of financing a portion of certain "Phase 2" infrastructure improvements ("Assessment Area Two Project") within the District more specifically described in the Engineer's Report dated March 25, 2021, noted as "Phase 2" on Exhibit 7 ("Assessment Area Two") prepared by Wood & Associates Engineering, LLC, 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 Improvement Plan ("Capital Improvements") that benefit property owners within the District.

Purpose

This Supplemental Assessment Methodology (the "Supplemental Report") supplements the Master Assessment Methodology, dated December 17, 2019 ("Master Report" and, together with the Supplemental Report, the"Assessment Report"). The Assessment Report provides for an assessment methodology that allocates the debt to be incurred by the District to benefiting properties within Assessment Area Two of the District. This Supplemental Report allocates the debt to properties based on the special benefits each receives from the Assessment Area Two Project. This Assessment Report may be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Assessment Area Two Project. This Assessment Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments ("Special Assessments") on the benefited lands within Phase Two of 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 109.99 acres within Haines City, Florida. Assessment Area Two comprises of approximately 41.04 acres. The development program for Assessment Area Two of the District currently envisions approximately 206 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.

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The Capital Improvements contemplated by the District in the Assessment Area Two Project will provide facilities that benefit certain property within the District. Specifically, the District will construct and/ or acquire certain offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. 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 Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District's Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/ or construct the 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

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 Supplemental Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within Assessment Area Two of the District. The implementation of the Assessment Area Two Project enables properties within the Assessment Area Two boundaries of the District to be developed. Without the District's Assessment Area Two Project, there would be no infrastructure to support development of land within Assessment Area Two of the District. Without these improvements, development of the property within Assessment Area Two of the District would be prohibited by law.

The general public and property owners outside of the District may benefit from the provision of the Capital Improvements. However, any such benefit will be incidental for the purpose of the Assessment Area Two Project, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District's Capital Improvements. The property owners 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:

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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 Assessment Area Two of the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District's Assessment Area Two Project that is necessary to support full development of property within Assessment Area Two of the District will cost approximately $4,796,000. The District's Underwriter projects that financing costs required to fund a portion of the Assessment Area Two Project costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be $4,990,000. Developer is expected to complete the balance of the Assessment Area Two Project. Without the Assessment Area Two Project, the property within Assessment Area Two of the District would not be able to be developed and occupied by future residents of the comm unity .

Assessment Methodology

Overview

The District has issued $4,990,000 in Bonds to fund a portion of the District's Assessment Area Two Project, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Supplemental Report to allocate the $4,990,000 in debt to the properties within Assessment Area Two of the District benefiting from the Assessment Area Two Project. 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 Assessment Area Two of the District. The District has commissioned an Engineer's Report that includes estimated construction costs for the Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Capital Improvements needed to support the development of Assessment Area Two are described in detail in the Engineer's Report and are estimated to cost $4,796,000. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for a portion

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of the Capital Improvements and related costs was determined by the District's Underwriter to total $4,990,000. 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 is completed. Until the platting process occurs, the Capital Improvements funded by District Bonds benefits all acres within Assessment Area Two of the District.

The initial assessments will be levied on an equal basis to all gross acreage within Assessment Area Two of 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 Assessment Area Two of the Dish·ict are benefiting from the Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of Assessment Area Two 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 the District, which are the beneficiaries of the Assessment Area Two Project, 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 Assessment Area Two Project consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There is one product type within the planned development. The single-family home has  been set as the base unit and has been assigned one equivalent residential unit ("ERU"). Table 4 shows the allocation of benef,it to the particular product type. It is important to note that the benefit derived from the Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

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Lienability Test: Special and Peculiar Benefit to the Property

Construction and/ or acquisition by the District of its proposed Capital Improvements will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. The benefit from the 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 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 Capital Improvements actually provided.

For the provision of the Assessment Area Two Project, 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 Capital 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 Assessment Area Two Project 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 Assessment Area Two Project have been apportioned to the property 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 Assessment Area Two 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

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allocation will not be increased more than the debt allocation set forth in the 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 Assessment Area Two Project is constructed.

3.0	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. 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. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred 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 Assessment Area Two of 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.

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	Total Assessible			
Land Use	Units	ERUs p_er Uni!_ll)	Total ERUs	

Single Family	
206	
1.00	
206	
Total Units	206		206	

Benefit is allocated on an ERU basis; based on density of planned development, with Single Family= 1 ERU

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

c:o

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)		

Offsite Improvements	
$	150,000	
Stormwater Management	$	510,000	
Utilities (Water, Sewer, & Street Lighting)	$	1,780,000	
Roadway	$	1,380,000	
Entry Feature	$	300,000	
Parks and Recreational Facilities	$	240,000	
Contingencies	$	436,000	

 	$	4,796,000 
..,_
0

(1) A detailed description of these improvements is provided in the Engineer's Report dated March 25, 2021

Prepared by: Governmental Management Services - Central Florida, LLC

Description	Total

Sources
Par	$	4,990,000
Premium	 $	85,153
Total Sources  $		5,075,153

Uses
Construction Funds	$	4,433,522
Debt Service Reserve	$	278,100
..,_	Capitalized Interest	$	79,256
Underwriters Discount	$	99,800
Cost of Issuance	 $	184,475
Total Uses   $	5,075,153 

Bond Assumptions: Average Coupon Rate Amortization Capitalized Interest Debt Service Reserve Underwriters Discount

3.74%
30 years
6 months Max Annual
2%

Prepared by: Governmental Management Services - Central Florida, LLC

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

Single Family	206	1	206	100.00%	$	4,796,000	$23,282

Totals	206	206	100.00%	$	4,796,000

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

.,.>.
N

Prepared by: Governmental Management Services - Central Florida, LLC

Total Improvement s	All ocat ion of Par Costs Per Product	Debt Per Product
  Land Use	No. of Units *	Type	Type	Par Debt Per Unit

	Single Fam i ly		206	$	4,796,000	$	4,990,000	$24,223	
		Totals	206	$	4,796,000	$	4,990,000		

* 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	Assessm ent	
Land Use	No. of Units *	 	Type	Per Unit	Service	Per Unit	Per Unit (1) 

Single Family		206	$	4,990,000	$24,223	$	194,400	$	1,350	$	1,450	
	Totals	206	$	4,990,000		$	278,100			

(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

.I>,

Prepared by: Governmental Management Services - Central Florida, LLC

Total Par Debt		Net Annual Debt		Gross Annual Allocation Per	Total Par Debt		Assessment	Debt Assessment
Owner		 Property ID #'s*	Acres		Acre		Allocated		Allocation		Allocation (1) JMBI Real Estate, LLC		See Attached Legal	41.04	$		121,589	$		4,990,000	$		278,100	$		299,032
Totals	41.04	$	4,990,000	$	278,100	$	299,032

(1) This amount includes estimated 7% to cover collection fees and early payment discounts when collected utili zi ng the uniform method.

(11

- See Metes and Bounds, attached as Exhibit A

Prepared by: Governmental Management Services - Central Florida, LLC
HAMMOCK RESERVE COD ASSESSMENT AREA TWO LEGAL DESCRIPTION

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, ANO THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE Of THE RIGHT OF WAY OF COUNTY ROAD NO, 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TOD E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN 0.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: All THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND All THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 (OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), l YING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°021S611W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.7S FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD  RIGHT OF WAY; THENCE CONTINUE N00°021S611W ALONG SAID WEST BOUNDARY,
81.65  FEET;  THENCE  S65"19'34"E,  515.47  FEET;  THENCE  S6S0   43'5S"E,  PARALLEL  WITH,  AND  30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF NS6°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'0011E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION, AND THE SOUTHERLY PROJECTION OF THAT WEST BOUNDARY, 617.29 FEET TO ITS INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65"43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE CONCAVED SOUTHWESTERLY, HAVING A RADIUS OF 2869.35 FEET, A CENTRAL ANGLE OF 09°40'02", A CHORD BEARING OF

3

16
N70"34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS: (REVISED 4 / 9 / 20 20)

COMMENCE AT A 4"X4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13,,·W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00002'13"-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55'33"-E, 135.45 FEET; THENCE N-00°04'27"-W, 44.46 FEET; THENCE N-89°55'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 60.54 FEET; THENCE N-89°55'33"-E, 200.00 FEET; THENCE S-00°04'27"-E, 110.00 FEET; THENCE S-89"55'33"-W, 5.00 FEET; THENCE S-00°04'27"-E, 50.00 FEET; THENCE S-89°55'33"-W, 97.72 FEET; THENCE S-00"04'27"­ E, 380.00 FEET; THENCE N-89°55'33"-E, 992.72 FEET; THENCE N-00"04'27"-W, 85.00 FEET; THENCE N- 89"55'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 23.43 FEET; THENCE N-89°55'33"-E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) S-00°04'27"-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145.00 FEET; A CENTRAL ANGLE/DELTA OF 91°36'40", A CHORD BEARING OF S-45°52'47"-E, A CHORD DISTANCE OF
FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF
WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18'53"-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27"49'07", A CHORD BEARING OF S-77°46'34" -E, A CHORD DISTANCE OF 36.06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) S-63°52'00"-E, 68.61 FEET; THENCE 4) S-00°16'21"-E, 60.00 FEET; THENCE S) S- 63052'00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, S-00"16'19"-E, 408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 114°32'03", A CHORD BEARING OF S-56°59'53"-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43'55"-W, 1831.08 FEET; THENCE N-65°19'34"-W, 460.35 FEET; THENCE ALONG A NON-RADIAL LINE, N-00°02'13"­ W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00"56'39" A CHORD BEARING OF N-75°36'08"-W, A CHORD DISTANCE OF 51.63 FEET; FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/-ACRES.

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17

SECTION VI
RESOLUTION 2021-09

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT SETTING FORTH THE SPECIFIC TERMS OF THE DISTRICT’S SPECIAL ASSESSMENT BONDS, SERIES 2021 (ASSESSMENT AREA TWO PROJECT); CONFIRMING THE DISTRICT’S PROVISION OF IMPROVEMENTS; CONFIRMING THE SUPPLEMENTAL ENGINEER’S REPORT AND SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING THE ASSESSMENT AREA TWO BONDS; PROVIDING FOR THE APPLICATION OF TRUE- UP PAYMENTS; PROVIDING FOR THE SUPPLEMENTATION OF THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF ASSESSMENT AREA TWO SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE

WHEREAS, the Hammock Reserve Community Development District (“District”) has previously indicated its intention to undertake, install, establish, construct or acquire certain public improvements and to finance such public improvements through the imposition of special assessments on benefited property within the District and the issuance of bonds; and

WHEREAS, the District’s Board of Supervisors (“Board”) has previously adopted, after notices and public hearings, Resolution No. 2020-29, relating to the imposition, levy, collection and enforcement of such special assessments; and

WHEREAS, pursuant to and consistent with the terms of Resolution No. 2020-29, this Resolution shall set forth the terms of bonds actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with such series of bonds and the terms of the bond issue; and

WHEREAS, on April 20, 2021, the District entered into a Bond Purchase Contract, whereby it agreed to sell $4,990,000.00 of its Special Assessment Bonds, Series 2021 (Assessment Area Two Project) (the “Assessment Area Two Bonds”); and

WHEREAS, pursuant to and consistent with Resolution No. 2020-29, the District desires to set forth the particular terms of the sale of the Assessment Area Two Bonds and to confirm the liens of the levy of special assessments securing the Assessment Area Two Bonds.

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170, 190 and 197, Florida Statutes, and Resolution 2020-29.

1

SECTION 2. FINDINGS. The Board of Supervisors of the Hammock Reserve Community Development District hereby finds and determines as follows:

On January 29, 2020, the District, after due notice and public hearing, adopted Resolution 2020-29 which, among other things, equalized, approved, confirmed and levied special assessments on property benefiting from the improvements authorized by the District. Each Resolution provides that as each series of bonds is issued to fund all or any portion of the District’s improvements, a supplemental resolution will be adopted to set forth the specific terms of each series of the bonds and certifying the amount of the liens of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due, any True-Up amounts and the application of receipt of any True-Up proceeds.
The Engineer’s Report for Capital Improvements, dated December 17, 2019 as further supplemented by that Supplemental Engineer’s Report for Capital Improvements, dated March 25, 2021 (together, the “Engineer’s Report”), attached to this Resolution as Composite Exhibit A, identifies and describes the presently expected components of the infrastructure improvements for Phase 2 (“Assessment Area Two Project”), to be financed all or in part with the Assessment Area Two Bonds (the “Improvements”), and indicates the estimated costs of the Assessment Area Two Project as $4,796,000.00. The District hereby confirms that the Assessment Area Two Project serves a proper, essential and valid public purpose. The Engineer’s Report is hereby approved, adopted, and confirmed. The District ratifies its use in connection with the sale of the Assessment Area Two Bonds.
The Master Assessment Methodology, dated December 17, 2019 (the “Master Methodology”), as supplemented by that Supplemental Assessment Methodology (Phase Two), dated April 20, 2021 (“Supplemental Methodology”, and together with the Master Methodology, the “Assessment Report”), attached to this Resolution as Composite Exhibit B, applies the Assessment Report to the Improvements and the actual terms of the Assessment Area Two Bonds. The Assessment Report is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the Assessment Area Two Bonds.
The Assessment Area Two Project will specially benefit certain property within the District known as Phase 2 (“Assessment Area Two”), the legal description of the assessable property therein is attached hereto as Exhibit C. It is reasonable, proper, just and right to assess the portion of the costs of the Assessment Area Two Project financed with the Assessment Area Two Bonds to the specially benefited properties within the District as set forth in Resolution 2020-29, and this Resolution.

SECTION 3. SETTING FORTH THE TERMS OF THE ASSESSMENT AREA TWO BONDS; CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR ASSESSMENT AREA TWO BONDS.   As
provided  in  Resolution  2020-29,  this  Resolution  is  intended  to  set  forth  the  terms  of  the

2
Assessment Area Two Bonds and the final amount of the liens of the special assessments securing those bonds.

The Assessment Area Two Bonds, in a par amount of $4,990,000, shall bear such rates of interest and maturity as shown on Exhibit D, attached hereto. The final payment on the Assessment Area Two Bonds shall be due on November 1, 2051. The estimated sources and uses of funds of the Assessment Area Two Bonds shall be as set forth in Exhibit E. The debt service due on the Assessment Area Two Bonds is set forth on Exhibit F attached hereto.
The lien of the special assessments securing the Assessment Area Two Bonds on Assessment Area Two (the “Assessment Area Two Special Assessments”), shall be the principal amount due on the Assessment Area Two Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection. The Assessment Area Two Bonds are secured solely by the Assessment Area Two Pledged Revenues (as defined in the Indenture (hereinafter defined)), which is comprised in part by the lien against Assessment  Area Two.
SECTION 4. ALLOCATION OF ASSESSMENTS SECURING THE ASSESSMENT AREA TWO BONDS; ADDRESSING COLLECTION OF THE SAME.

The Assessment Area Two Special Assessments shall be allocated in accordance with Composite Exhibit B, which allocation shall initially be on an acreage basis and further allocated as lands are platted. The Supplemental Methodology is consistent with the District’s Master Methodology. The Supplemental Methodology, considered herein, reflects the actual terms of the issuance of the District’s Assessment Area Two Bonds. The estimated costs of collection of the Assessment Area Two Special Assessments are as set forth in the Supplemental Methodology.
The lien of the Assessment Area Two Special Assessments includes all property within Assessment Area Two, and as such land is ultimately defined and set forth in any plats, certificates of occupancy or other designations of developable acreage.
Taking into account capitalized interest and earnings on certain funds and accounts as set forth in the Assessment Report, the District shall, for Fiscal Year 2021/2022, begin annual collection of special assessments for the Assessment Area Two Bonds debt service payments due starting November 1, 2021, using the methods available to it by law. Debt  service payments, including semi-annual installments of interest, are reflected on Exhibit F for Assessment Area Two. The Assessment Area Two Bonds include an amount for capitalized interest through November 1, 2021.
The Assessment Area Two Special Assessments may be paid in not more than thirty (30) substantially equal consecutive annual installments of principal and interest. Assessment Area Two Special Assessments may be paid in full without interest at any time within thirty (30) days after the completion of the Improvements and the adoption by the

3
Board of a resolution accepting the Improvements; provided, however, that the Board shall at any time make such adjustments by resolution, at a noticed meeting of the Board, to that payment schedule as may be necessary and in the best interests of the District to account for changes in long and short term debt as actually issued by the District. All impact fee credits received shall be applied against the outstanding indebtedness of any debt issuance that funded the improvement giving rise to the credits which application may be addressed by such resolutions. At any time subsequent to thirty (30) days after the Improvements have been completed and a resolution accepting the Improvements has been adopted by the Board, the Assessment Area Two Special Assessments may be prepaid in full including interest amounts to the next succeeding interest payment date or to the second succeeding interest payment date if such a prepayment is made within forty-five (45) calendar days before an interest payment date (or such other time as set forth in the supplemental indenture for the applicable series of bonds secured by the debt assessment in question). The owner of property subject to Assessment Area Two Special Assessments may prepay the entire remaining balance of the Assessment Area Two Special Assessments at any time, or a portion of the remaining balance of the Assessment Area Two Special Assessments one time if there is also paid, in addition to the prepaid principal balance of the Assessment Area Two Special Assessments, an amount equal to the interest that would otherwise be due on such prepaid amount on the next succeeding interest payment date, or, if prepaid during the forty-five day period preceding such interest payment date, to the interest payment date following such next succeeding interest payment date (or such other time as set forth in the supplemental indenture for the applicable series of bonds secured by the debt assessment in question). Prepayment of Assessment Area Two Special Assessments does not entitle the property owner to any discounts for early payment.
The District hereby certifies the Assessment Area Two Special Assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Polk County and Florida law for collection. The District intends, to the extent possible and subject to entering into the appropriate agreements with the Polk County Tax Collector and Polk County Property Appraiser (or other appropriate Polk County, Florida officials) to collect the Assessment Area Two Special Assessments on platted lands contained within a plat or certificate of occupancy using the Uniform Method in Chapter 197, Florida Statutes. The District intends, to the extent possible, to directly bill, collect and enforce the Assessment Area Two Special Assessments on lands not included within an approved plat or certificate of occupancy unless in any year, the District determines it to be in its best interest to collect such assessments using the Uniform Method in Chapter 197, Florida Statutes. The District Manager shall prepare or cause to be prepared each year an assessment roll for purposes of effecting the collection of the Assessment Area Two Special Assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect special assessments on property using methods available to the District authorized by Florida law in order to provide for the timely payment of debt service.
SECTION 5. APPROVAL OF TRUE-UP PROCESS AND APPLICATION OF TRUE-UP PAYMENTS.

4

Pursuant to Resolution 2020-29, there may be required from time to time certain True-Up payments. As parcels of land are included in a plat or certificate of occupancy, the special assessments securing the Assessment Area Two Bonds shall be allocated as set forth in Resolution 2020-29, this Resolution and the Assessment Report, including, without limitation, the application of the True-Up process set forth in the Assessment Report.

Based on the final par amount of $4,990,000.00 in Assessment Area Two Bonds, the True-Up calculations will be made in accordance with the process set forth in the Assessment Report. The District shall apply all True-Up payments related to the Assessment Area Two Bonds only to the credit of the Assessment Area Two Bonds. All True-Up payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Supplemental Indenture.

SECTION 6. IMPROVEMENT LIEN BOOK. Immediately following the adoption of this Resolution, these special assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District’s Improvement Lien Book. The special assessment or assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION 7. OTHER PROVISIONS REMAIN IN EFFECT. This Resolution is intended to supplement Resolution 2020-29, both of which remain in full force and effect. This Resolution and Resolution 2020-29 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record a Notice of Assessment Area Two Special Assessments securing the Assessment Area Two Bonds, in the Official Records of Polk County, Florida, or such other instrument evidencing the actions taken by the District.

SECTION 9. SEVERABILITY. If any section or part of a section of this Resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

[Remainder of page intentionally left blank]

5
APPROVED AND ADOPTED this 5th day of May, 2021.

ATTEST:	HAMMOCK RESERVE COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Comp. Exhibit A: Engineer’s Report for Capital Improvements, dated December 17, 2019 as further supplemented by that Supplemental Engineer’s Report for Capital Improvements, dated March 25, 2021
Comp. Exhibit B: The Master Assessment Methodology, dated December 17, 2019, as supplemented by that Supplemental Assessment Methodology (Phase Two), dated April 20, 2021
Exhibit C:	Legal Description of Assessment Area Two
Exhibit D:	Maturities and Coupons of Assessment Area Two Bonds Exhibit E:	Sources and Uses of Funds for Assessment Area Two Bonds Exhibit F:	Debt Service for Assessment Area Two Bonds

6
Exhibit A:

Engineer’s Report

7

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

ENGINEER’S REPORT
FOR CAPITAL IMPROVEMENTS

Prepared for:

BOARD OF SUPERVISORS HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

Prepared by:

WOOD & ASSOCIATES ENGINEERING, LLC

1925 BARTOW ROAD LAKELAND, FL 33801
PH: 863-940-2040

December 17, 2019

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS
INTRODUCTION	1-2
PURPOSE AND SCOPE	2-3
THE DEVELOPMENT	3
THE CAPITAL IMPROVEMENTS	3-4
CAPITAL IMPROVEMENT PLAN COMPONENTS	4-5
Stormwater Management Facilities	4-5
Public Roadways	5
Water and Wastewater Facilities	6
Off-site Improvements	7
Amenities and Parks…	7
Electric and Lighting…	7
Entry Features…	8
Miscellaneous	8
PERMITTING	9
RECOMMENDATION	10
REPORT MODIFICATION	10
CONCLUSION	11
LIST OF EXHIBITS

EXHIBIT 1- Location Map EXHIBIT 2- Legal Description EXHIBIT 3- District Boundary Map EXHIBIT 4- Zoning Map
EXHIBIT 5- Land Use Map
EXHIBIT 6- Utility Location Map & Drainage Flow Pattern Map EXHIBIT 7- Summary of Opinion of Probable Costs
EXHIBIT 8- Summary of Proposed District Facilities EXHIBIT 9- Overall Site Plan
ENGINEER’S REPORT HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

INTRODUCTION

The Hammock Reserve Community Development District (the “District”) is north and south of Old Polk City Road, and west of Hwy 27, within Haines City (the “City”). The District currently contains approximately 109.99 acres and is expected to consist of 437 single family lots, recreation / amenity areas, parks, and associated infrastructure.

The CDD was established under City Ordinance No. 19-1665 which was approved by the City Commission on December 5, 2019. The District will own and operate the public roadways and stormwater management facilities, as well as the landscape, irrigation, signage, and recreational facilities within the development.
Public improvements and facilities financed, acquired, and/or constructed by the District will be designed and constructed to conform to regulatory criteria from the City, the County, Southwest Florida Water Management District (SWFWMD), and other applicable agencies with regulatory jurisdiction over the development. An overall estimate of probable cost of the public improvements is provided in Exhibit 7 of this report.

This “Capital Improvement Plan” or “Report” reflects the present intentions of the District and the landowners. It should be noted that the location of 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 received by 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 comparable level of benefits to the lands served by the improvements. Changes and modifications are expected as changes in regulatory criteria are implemented.

Page 1

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 best available information, which includes but is not limited to previous experience with similar projects. Actual costs could be different than estimates because 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, upon completion, be dedicated to the City for ownership and maintenance.

PURPOSE AND SCOPE

The purpose of this Report is to provide engineering support to fund improvements in the District. This Report will identify the proposed public infrastructure to be constructed or acquired by the District along with an opinion of probable cost.

Contained within this Report is a brief description of the public infrastructure to be constructed or acquired by the District. The District will finance, construct, acquire, operate, and maintain all or specific portions of the proposed public infrastructure. An assessment methodology consultant has been retained by the District, who will develop the assessment and financing methodology to be applied using this Report.

Page 2
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 not yet 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, and information that may have been provided by public entities, public employees, the landowner, site construction contractors, other engineering professionals, land surveyors, the District Board of Supervisors, and its staff and consultants.

THE DEVELOPMENT

The development will consist of 437 single family homes and associated infrastructure (“Development”). The Development is a planned residential community located north and south of Old Polk City Road, and west of Hwy 27 within the City. Phase 1 and 2 of the development has a land use of LDR (Low Density Residential) and a zoning of RPUD (Residential Planned Unit Development). The development will be constructed in two (2) phases.

THE CAPITAL IMPROVEMENTS

The Capital Improvement Plan, (the “CIP”), consists of public infrastructure in Phases 1 and 2. The primary portions of the CIP will entail stormwater pond construction, roadways built to an "urban" typical section, water and sewer facilities and off-site improvements (including turn lanes and extension of water and sewer mains to serve the development).

Page 3
There will also be stormwater structures and conveyance culverts within the CIP which will outfall into the on-site retention 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. Below ground installation of telecommunications and cable TV will occur, but will not be funded by the District. The CDD will enter into a lighting agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way on District Land is included.
As a part of the recreational component of the CIP, a public park/amenity center will be within the development The public park/amenity center will have connectivity via sidewalks to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.

CAPITAL IMPROVEMENT PLAN COMPONENTS

The Capital Improvement Plan includes the following:

Stormwater Management Facilities
Stormwater management facilities consisting of storm conveyance systems and retention ponds are contained within the District boundaries. Stormwater runs off via roadway curb and gutter to 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 management systems is regulated by the City, the County, and the SWFWMD. There are no known surface waters.

Federal Emergency Management Agency Flood Insurance Rate Map (FEMA FIRM) Panel No. 12105C-0357G (dated 12/22/2016) demonstrates that the property is located within Flood Zone X. Based on this information and the site topography, it does not appear that floodplain compensation will be required.

Page 4

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 Florida Department of Environmental Protection (FDEP) as delegated by the Environmental Protection Agency (EPA). The SWPPP will be prepared to depict for the contractor the proposed locations of required erosion control measures and staked turbidity barriers specifically along the down gradient side of any proposed construction activity. The site contractor will be required to provide the necessary reporting on various forms associated with erosion control, its maintenance and any rainfall events that occur during construction activity.

Public Roadways
The proposed public roadway sections are to be 50' R/W with 24’ of asphalt and Miami curb or Type F curb and gutter on both sides. The proposed roadway section will consist of stabilized subgrade, lime rock, crushed concrete or cement treated base and asphalt wearing surface. The proposed curb is to be 2' 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 signing 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's funding of roadway construction will occur for all public roadways.

Page 5

Water and Wastewater Facilities
A potable water system inclusive of water main, gate valves, fire hydrants and appurtenances will be installed for the Development. The water service provider will be the City of Haines City Public Utilities. The water system will be a "looped" system. These facilities will be installed within the proposed public rights-of-way within the District. This water will provide the potable (domestic) and fire protection services which will 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 8" diameter PVC. The gravity sanitary sewer lines will be placed inside of the proposed public rights-of-way, under the proposed paved roadways. Branching off from these sewer lines will be laterals to serve the individual lots. Lift stations are anticipated for this CIP. Flow from the lift station shall be connected to a proposed force main along near US 27.

Reclaimed water is not available for this site. An irrigation well to be funded by the District will be installed onsite to provide irrigation within the public right of way or irrigation water service shall be provided as part of the domestic water system design. Any water, sewer, or reclaim water pipes or facilities placed on private property will not be publicly funded.

Page 6

Off-Site Improvements
The District will provide funding for the anticipated turn lanes at the development entrance. The site construction activities associated with the CIP are anticipated for completion by phases based on the following estimated schedule: Phase 1 in 2020; Phase 2 in 2021. Upon completion of each phase of these improvements, inspection/certifications will be obtained from the SWFWMD; the Polk County Health Department (water distribution system), Florida Department of Environmental Protection (FDEP) (wastewater collection) and the City/County.

Public Amenities and Parks

The District will provide funding for a public Amenity Center to include the following: pavilion with tot lot, dog park/all-purpose play field, and walking trails between the phases to provide connectivity to the public Amenity Center, and passive parks through out the development which will include benches and walking trails.

Electric and Lighting
The electric distribution system thru the District is currently planned to be underground. The District presently intends to fund the difference between overhead and underground service to the CDD. Electric facilities funded by the District will be owned and maintained by the District, with Duke Energy providing underground electrical service to the Development. The CDD will enter into a lighting agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way on District land is included.

Page 7

Entry Feature, Landscaping, and Irrigation
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 watermains to the various phases of the development will be constructed or 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.

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 with the intention for benefiting 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 planned development.

Page 8
PERMITTING
Construction permits for all phases are required and include the SWFWMD Environmental Resource Permit (ERP), Polk County Health Department, Florida Department of Environmental Protection (FDEP), Army Corps of Engineer Permit (ACOE), and City construction plan approval.

Following is a summary of required permits obtained and pending for the construction of the public infrastructure improvements for the District:

PHASE 1 (231 Lots)

Permits / Approvals	Approval / Expected Date	
Zoning Approval	Approved	
Preliminary Plat	December 2019	
SWFWMD ERP	January 2020	
Construction Permits	January 2020	
Polk County Health Department Water	January 2020	
FDEP Sewer	January 2020	
FDEP NOI	January 2020	
ACOE	N/A	

PHASE 2 (206 Lots)

Permits / Approvals	Approval / Expected Date	
Zoning Approval	Approved	
Preliminary Plat	July 2020	
SWFWMD ERP	August 2020	
Construction Permits	August 2020	
Polk County Health Department Water	August 2020	
FDEP Sewer	August 2020	
FDEP NOI	August 2020	
ACOE	N/A	

Page 9

RECOMMENDATION

As previously described within this report, the public infrastructure as described is necessary for the development and functional operation as required by the City. The site planning, engineering design and construction plans for the infrastructure are in accordance with the applicable requirements of the City of Haines City, and the SWFWMD. It should be noted that the infrastructure will provide its intended use and function so long as the construction and installation is 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 proposed plan infrastructure as shown on construction drawings incorporating specifications in the most current SWFWMD and the City regulations.

REPORT MODIFICATION

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

Page 10
CONCLUSION

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 at least equal to the costs of such improvements.

The Opinion of Probable Costs of the public infrastructure improvements is only an estimate and is not a guaranteed maximum price. The estimated costs are based upon unit prices currently experienced on an ongoing and similar basis for work in the County. 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 professional opinion that the proposed public infrastructure improvements when constructed and built in substantial conformance with the approved plans and specifications, can be completed and used for their intended function. Be advised that we have utilized historical costs and direct unit costs from site contractors and consultants in the County, which we believe to be necessary in order to facilitate accuracy associated with the Opinion of Probable Costs. Based upon the information above, it is our professional opinion that the acquisition and construction costs of the proposed CIP can be completed at the cost as stated.

Page 11
Exhibit 8 Hammock Reserve
Community Development District Summary of Proposed District Facilities

District Infrastructure	Construction	Ownership	Capital Financing*	Operation and Maintenance	
Offsite Improvements	District	City/County	District Bonds	City/County	
Stormwater Facilities	District	District	District Bonds	District	
Lift Stations/Water/Sewer	District	City of Haines City	District Bonds	City of Haines City	
Street Lighting/Conduit	District	**District	District Bonds	**District	
Road Construction	District	District	District Bonds	District	
Entry Feature & Signage	District	District	District Bonds	District	
Parks and Recreational
Facilities	District	District	District Bonds	District	

*Costs not funded by bonds will be funded by the developer.
** Street lighting/conduit shall be owned and maintained by the District or the District shall enter into a lease with Duke Energy.

Exhibit 7 Hammock Reserve
Community Development District Summary of Probable Cost

Infrastructure (1)(9)	Phase 1 (231 Lots)
2019-2021	Phase 2 (206 Lots)
2020-2023	Total (437 Lots)	
Offsite Improvements (5)(6)	$ 190,000.00	$ 170,000.00	$ 360,000.00	
Stormwater Management (2)(3)(5)(6)	$2,100,000.00	$1,900,000.00	$4,000,000.00	
Utilities (Water, Sewer, & Street Lighting) (5)(6) (8)	$1,120,000.00	$ 990,000.00	$2,110,000.00	
Roadway (4)(5)(6)	$ 790,000.00	$ 690,000.00	$1,480,000.00	
Entry Feature (6)(7)	$ 568,000.00	$ 507,000.00	$1,075,000.00	
Parks and Recreational Facilities (1)(6)	$ 420,000.00	$ 380,000.00	$ 800,000.00	
Contingency	$ 470,000.00	$ 420,000.00	$ 890,000.00	
TOTAL	$5,658,000.00	$5,057,000.00	$10,715,000.00	

Notes:
Infrastructure consists of offsite improvements, public roadway improvements, stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and parks and recreational facilities.
Excludes grading of each lot both for initial pad construction, lot finishing in conjunction with home construction, which will be provided by developer or homebuilder.
Includes stormwater pond excavation. Costs do not include transportation to or placement of fill on private property.
Includes sub-grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Estimates are based on 2019 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. Only undergrounding of wire in public right-of-way and on District land is included.
Estimates based on Master Infrastructure to support development of 437 lots.

Parcel ID Numbers
1.	272719-742520-000011
2.	272719-742520-000020

--
PROPOSED
HAMMOCK RESERVE COD

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EXHIBIT 1 - LOCATION MAP HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT
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OFFIC (863)940-2040 • FAX: (863) 940·2044 • CEL (863) 662-0018 EMAi INfO@WOODCIVILCOM
CERTIFICATE Of  AUTHORIZATIONNO. 30124
EXHIBIT 2
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DE SCRIPTION
(NOT A SURVEY)
EXHIBIT A CONSISTS OF SEVEN (7) PAGES,
AND JS NOT COMPLETE WITHOUT ALL PAGES PAGE 1 OF 7

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CERTIFICATE OF AUTHORZI ATION NO, 30124
EXHIBIT 2 HAMMOCK RESERVE COD
SKETCH TO ACCOMPANY LEGAL
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(NOT A SURVEY)
EXHIBIT A CONSISTS OF SEVEN (7) PAGES,
AND IS NOT COMPLETE WITHOUT ALL PAGES	PAGE 2 OF 7

 	 	

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OFFIC (863) 940-2040 • FAX: (863) 940-2044 • CELl: (863)662-0018 EMAi INFO@WOODCIVILCOM
CERTIFCI ATE OF AUTHORIZATIONNO. 30124
EXHIBIT 2 HAMMOCK RESERVE COD
SKETCH TO ACCOMPANY LEGAL DESCRIPTION
(NOT A SURVEY)
EXHIBIT A CONSISTS OF SEVEN (7) PAGES,
AND  IS  NOT  COMPLETE  WITHOU T ALL PAGES	PAGE 3 OF 7

 	 
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4"x4 " CONCRETE MONUMENT NO IDENTIFICATION

EXHIBIT 2 HAMMOCK RESERVE COD 

1925BARTOW ROAD •   LAKELAND, f l  33801
OFFICE: (86 3) 940-2040 • FAX: (863) 940-2044 • CEL (863) 662-0018 EMAI INfO@WOODCIVILCOM
CERTlfl CATE Of  AUTHORIZATION NO, 30124
SKETCH TO ACCOMPANY LEGAL
DESCRIPTION
(NOT  A SURVEY)
EXHIBIT A  CONSSI TS OF  SEVEN (7)  PAGES.
AND IS  NOT COMPLETE WITHOUT ALL PAGES	PAGE 4 OF 7

 	
LEGAL DESCRIPTION

Tract #1: All of the Replat of a part of Golf Grounds Estates and Agua Vista Country Club, Haines City, Florida, as shown by map or plat thereof recorded in Plat Book 41, Page 26, Public Records of Polk County, Florida, LESS AND EXCEPT that part thereof as set forth in Final Judgment, Case No . 18404-31-542, filed June 27, 1968, recorded in O.R. Book 1164, Page 498, Public Records of Polk County, Florida and LESS AND EXCEPT beginning at the Northwest (NW) corner of the Northwest Quarter (NW 1/4) of Section 19, Township 27 South, Range 27 East, and then run South Eighty-seven (87) feet more or less to the east erly boundary line of the right of way of County Road No. 17, then run in a easterly direction a distance of 872.50 feet more or  less to  a point 118 feet South of the South boundary line of Section 18, Township 27 South, Range 27 East;  then  run north 118 feet to  the South boundary line of said Section 18, then run West along the said South Boundary line a distance  of  871.95 feet to  the point of beginning.

ALSO LESS AND EXCEPT that portion conveyed to D E Ranch, Inc., a Florida corporation, by deed recorded in 0.R. Book 10268, Page 2011, Public Records of Polk County, Florida.

Tract #2: All that part of West half of NE 1/4 of NW 1/4 and all that part of NE 1/4 of NW 1/4 of NW 1/4 (or NE 1/4 of United States Government Lot 1), lying North of the ACL Railroad Right of Way in Section 30, Township 27 Sout h, Range 27 East, Polk County, Florida .

LESS and EXCEPT that portion of Tract #2 lying within and North of the right of way of Johnson Avenue West.

LESS and EXCEPT that portion of Tracts #1 and 2 conveyed by deed recorded in O.R. Book 8278, Page 1958 , Public Records of Polk County, Florida, being more particularly described as follows:

Commence at the Southwest corner of Section 19, Township 27 South, Range 27 East, Polk County, Florida and run N00°02'56"W, along the West boundary of said Section 19, 280.75 feet to the Point of Beginning, said point  being on  the Northerly  right of  way  boundary  of  the  CSX  railroad  right  of  way; thence  continue  N00°02'56"W  along said West boundary,
81.65 feet; thence S65°19'34"E, 51S.47 feet; thence S65°43'55"E, parallel with, and 30 feet Northerly of said railroad right of way, 1831.08 feet to the beginning of a curve concaved Nort hwesterly, having a radius of 75.00 feet, a central angle of 114°32'24", a chord bearing of N56°59'53"E, and a chord distance of 126.18 feet; thence along said curve, an arc distance of
149.93 feet to the end of said curve; thence N00°16'19"W, 408.82 feet; thence N63°52'00"W, 33.49 feet; thence N00°16'21"W,
60.00 feet to the Southerly right of way boundary of Johnson Avenue; thence S63°52'00"E, along said right of way boundary,
66.99 feet; thence S00°16'19"E, along the West boundary of Lake Hester Estates Subdivision, and the Southerly projection of that West boundary, 617.29 feet to its intersection with the aforementioned Northerly right of way of the CSX railro ad; thence N65°43'55"W along said right of way, 1994.45 feet to the beginning of a curve concaved Southwesterly, having a radius of 2869.35 feet, a central angle of 09°40'02", a chord bearing of N70°34'01"W, and a chord distance of 483.55 feet; thence along said curve, an arc distance of 484.13 feet to the Point of Beginning.

AND LESS

THAT PART OF THE NORTHWEST QUARTER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA DESCRIBED AS:

COMMENCE AT A 4" X 4" CONCRETE MONUMENT STAMPED "LS 1943" STANDING AT THE NORTHWEST CORNER OF THE NORTHWEST QUARTER OF SAID SECTION 19, AND RUN THENCE ALONG THE NORTH LINE THEREOF N-89°55 '35"-E, 1617.81FEET; THENCE DEPARTING SAID NORTH LINE, S-00°04'27"-E, 764.04 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE S-00°04'27"-E, 536.47 FEET; THENCE ALONG A NON-RADIAL LINE S-41°17'42"-W, 340.63 FEET TO A POINT ON THE EASTERLY RIGHT-OF-WAY OF OLD POLK CITY ROAD (STATE ROAD S-17) PER OFFICIAL RECORDS BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, SAID POINT ALSO BEING A POINT ON A CURVE CONCAVE NORTHEASTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 1105.92 FEET, A CENTRAL ANGLE/DELTA OF 02°36'03", A CHORD BEARING OF N-53°40'29"-W, A CHORD DISTANCE OF 50.20 FEET, FOR AN ARC LENGTH OF 50.20 FEET; THENCE DEPARTING SAID EASTERLY RIGHT-OF-WAY, AND ALONG A NON-RADIAL LINE, N-41°17'42"-E, 193.47 FEET; THENCE N-00°09'47"-E, 593.50 FEET; THENCE S-89°49'38"-E, 163.01 FEET TO THE POINT OF BEGINNING.

AND LESS

THAT PART OF THE NORTHWEST QUARTER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA DESCRIBED AS:

COMMENCE AT A 4" X 4" CONCRETE MONUMENT STAMPED "LS 1943" STANDING AT THE NORTHW EST CORNER OF THE NORTHWEST QUARTER OF SAID SECTION 19, AND RUN THENCE ALONG THE NORTH LINE THEREOF N-89°55'35" -E, 1617.81FEET; THENCE DEPARTING SAID NORTH LINE, S-00°04'27"-E, 1300.51 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE S-00°04'27"-E, AND ALONG A NON-RADIAL LINE, 366 .21 FEET TO A 4" X 4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING ON THE EASTERLY RIG HT-OF-WAY OF OLD POLK CITY ROAD (STATE ROAD S-17) PER OFFICIAL RECORDS BOOK 1164 , PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, SAID POINT ALSO BEING A POINT OF CURVE CONCAVE NORTHEASTERLY; THENCE ALONG SAID  EASTERLY  RIGHT-OF- WAY THE FOLLOWING THREE  (3) COURSES:  1)  NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 1095.92 FEET, A CENTRAL ANGLE/DELTA OF 00 °37' 28", A CHORD BEARING OF N-67°52'05"-W, A CHORD DISTANCE OF 11.95 FEET, FOR AN ARC LENGTH OF 11 .95 FEET; THENCE 2) ALONG A RADIAL LINE S-22 °26 '39" -W, 10 .00 FEET TO A POINT OF CURVE CONCAVE NORTHEASTERLY; THENCE 3) NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 1105.92 FEET, A CENTRAL ANGLE/DELTA OF 12°26'50", A CHORD BEARING OF N-61°19 '56" -W, A CHORD DISTANCE OF 239.78 FEET, FOR AN ARC LENGTH OF 240.25 FEET; THENCE DEPARTING SAID EASTERLY RIGHT-OF- WAY, AND ALONG A NON-RADIAL LINE, N-41°17'42"-E, 340.63 FEET TO THE POINT OF BEGINNING.

ASSOCIATES
--	ni     LLC

1925BARTOW ROAD • LAKELAND, Fl 33801
OFFIC 1863) 940-2040 • FAX: (863) 940•2044 • CELL: (863) 662·0018 EMAIL:INFO@WOODCIVlLCOM
CERTIACATE O F AUTHORIZATION NO. 30124
EXHIBIT 2 HAMMOCK RESERVE CDD
LEGAL DESCRIPTION
(NOT A SURVEY)
EXHIBIT A CONSISTS OF SEVEN (7) PAGES, AND IS NOT COMPLETE WITHOUT ALL PAGES

PAGE 5 OF 7

---	-----------------
A 	ALL BEING FURTHER DESCRIBED AS:

COMMENCE AT A 4" X 4" CONCRETE MONUMENT STAMPED "LS 1943" STANDING AT THE NORTHWEST CORNER OF THE NORTHWEST QUARTER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA, AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, S-00°02'13"-91.40 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126" STANDING AT THE INTERSECTION OF SAID WEST BOUNDARY AND THE NORTH EASTERLY RIGHT-OF-WAY OF OLD POLK CITY ROAD (STATE ROADS-17) ACCORDING TO THAT DOCUMENT RECORDED IN OFFICIAL RECORDS BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, SAID INTERSECTION POINT IS ALSO THE POINT OF BEGINNING; THENCE DEPARTING SAID WEST BOUNDARY AND SAID NORTH EASTERLY RIGHT-OF-WAY , S-88°19'34"-E, 872.41 FEET TO A 4" X 4"  CONCRETE  MONUMENT  STAMPED  "LS 1943"; THENCE  N-00°04'25"-W, 118.00 FEET TO A POINT ON THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 19; THENCE ALONG SAID NORTH LINE N-89°55'35"-E, 745.86 FEET; THENCE DEPARTING SAID NORTH LINE, S-00°04'27"-E, 764.04 FEET; THENCE N-89°49'38"-W, 163.01FEET; THENCE S-00°09'47"-W, 593.50 FEET; THENCE S-48°42'18"-E, 36.95 FEET; THENCE ALONG A NON-RADIAL LINE, S-41°17'42"-W, 193.47 FEET TO A POINT ON SAID NORTH EASTERLY RIGHT-OF-WAY OF OLD POLK CITY ROAD (STATE ROAD S-17), SAID POINT IS ALSO A POINT ON A CURVE CONCAVE NORTHEASTERLY; THENCE ALONG SAID NORTHEASTERLY RIGHT-OF-WAY, AND NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 1105.92 FEET, A
CENTRAL ANGLE/DELTA OF 09°35'00", A CHORD BEARING OF N-47°42'58"-W, A CHORD DISTANCE OF 184.76 FEET, FOR AN ARC LENGTH OF 184.98 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE CONTINUE ALONG SAID NORTH EASTERLY RIGHT-OF-WAY N-42°55'28"-W,1787.64 FEET TO THE POINT OF BEGINNING.

AND

COMMENCE AT A 4"X4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 SOUTH, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13"-W, 425.20 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126", SAID POINT ALSO BEING THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N-00 °02'13" -W, 920.96 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126", SAID POINT IS HEREBY DESIGNATED AS POINT "A" TO BE USED HEREIN AFTER; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N-00°02'13"-W, 60.32 FEET, MORE OR LESS, TO THE EDGE OF LAKE LOWRY; THENCE DEPARTING SAID WEST BOUNDARY, MEANDER NORTHWESTERLY ALONG THE EDGE OF LAKE LOWRY TO ITS INTERSECTION WITH A LINE THAT LIES 650 FEET WESTERLY  OF  AND  PARALLEL  WITH  THE  EASTERLY  RIGHT-OF-WAY   OF  PRADO  GRANDE  ROAD,  SAID    POINT  OF
INTERSECTION LIES N-34°26'13"-E, AND 1518.68 FEET DISTANT FROM SAID DESIGNATED POINT "A"; THENCE DEPARTING SAID EDGE OF LAKE LOWRY, AND ALONG SAID PARALLEL LINE, N-00°04'27"-W, 214.62 FEET TO A POINT ON A CURVE CONCAVE SOUTHERLY; THENCE SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 842.42 FEET, A CENTRAL ANGLE/DELTA OF 23°10'19", A CHORD BEARING OF S-79°15'00"-E, A CHORD DISTANCE OF 338.38 FEET, FOR AN ARC LENGTH OF 340.70 FEET TO A 5/8" IRON ROD STAMPED "LB 8126" AND A POINT OF CUSP/CURVE CONCAVE NORTHEASTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 513.86 FEET, A CENTRAL ANGLE/DELTA OF 03°11'13", A CHORD BEARING OF N-07'06'30"-W, A CHORD DISTANCE OF 28.58 FEET, FOR AN ARC LENGTH OF 28.58 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126" AND A POINT OF CUSP/CURVE CONCAVE SOUTHWESTERLY; THENCE SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 867.42 FEET, A CENTRAL ANGLE/DELTA OF 01°52'53" A CHORD BEARING OF S-67°39'05"-E, A CHORD DISTANCE OF 28.48 FEET,  FOR AN  ARC LENGTH OF 28.48 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126" AND A POINT OF CUSP/CURVE CONCAVE EASTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 488.86 FEET, A CENTRAL ANGLE/ D ELTA OF 10°20'24", A CHORD BEARING OF N-01°54'19" -W, A CHORD DISTANCE OF 88.10 FEET, FOR AN ARC LENGTH  OF 88.22 FEET  TO  A 5/8" IRON ROD AND CAP STAMPED "LB 8126" TO A POINT OF REVERSE CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 514.89 FEET, A CHORD BEARING OF N-09°33'16"-W , A CHORD DISTANCE OF 228.48 FEET, FOR AN ARC LENGTH OF 230.40 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126"; THENCE N-05°39'15" -E, 424.44 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB  8132"; THENCE N-06°51'08"-W, 125.00 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE N-27°54'56"-W, 137.20 FEET TO A 5/8" IRON  ROD AND CAP STAMPED "LB 8126"; THENCE N- 66°43'58" -E, 55.00 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126"; THENCE N-2 6°37'46" -W, 140.00 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE N-47°06'21" -E, 37.32 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126" STANDING ON THE SOUTHWESTERLY RIGHT-OF-WAY OF OLD POLK CITY ROAD (STATE ROAD S-17) ACCORDING TO THAT DOCUMENT RECORDED IN OFFICIAL RECORDS BOOK 11 64, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA; THENCE ALONG SAID SOUTHWESTERLY RIGHT-OF-WAY THE FOLLOWING FIVE (5) COURSES: 1) S-43°25'35"-E, 15.84 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 2) ALONG A NON-RADIAL LINE N-4 6°11°39" -E, 10.00 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126", SAID POINT IS ALSO A POINT OF CURVE CONCAVE NORTHEASTERLY; THENCE 3) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 1185.92  FEET,  A  CENTRAL ANGLE/DELTA  OF 08°03'30",  A CHORD  BEARING  OF S-47°50'06"-E, A CHORD  DISTANCE  OF
166 . 66 FEET FOR AN ARC LENGTH OF 166.79 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 81 26" ; THENCE 4) S-42°53'42" -E, 110.24 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8132," SAID POINT IS ALSO A POINT OF CURVE CONCAVE SOUTHWESTERLY; THENCE 5) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 300.00 FEET, A CENTRAL ANGLE/DELTA OF 42°49'15", A CHORD BEARING OF S-21°29'05" -E, A CHORD DISTANCE OF 219.03 FEET, FOR AN ARC LENGTH OF 224.21 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126" STANDING ON THE WESTERLY RIGHT OF WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT OF WAY THE FOLLOWING SIX (6) COURSES: THENCE 1) S-00°04'27"-E, 996.62 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 2) S-14°36'35" -W, 118. 26 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 3) S-00°03'35"-W , 199.75 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 4) S-18°55'11"-E, 156.16 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 5) S-00°04'27"-E, 1946.53 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126", SAID POINT IS ALSO A POINT OF CURVE CONCAVE EASTERLY; THENCE 6) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 1 45.00 FEET, A CENTRAL ANGLE/DELTA OF 91°36'40", A CHORD BEARING OF S-45°52'47"-E, A CHORD DISTANCE OF 207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126" STANDING ON THE SOUTHERLY RIGHT-OF-WAY OF WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT-OF-W AY THE FOLLOWING FIVE(5) COURSES: 1) N- 88°1 8'53" -E, 493 .8 4 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126" SAID POINT IS ALSO A POINT OF CURVE CONCAVE SOUTHERLY;

ASSOCIATES
'----- Engineering, LLC
1925BARTOW ROAD  •   LAKELAND, FL 33801
OFFICt (863) 940·2040 • FAX: (863) 940·2044 • CEL (863) 662·0018 EMAi INFO@WOODCIVLICOM
CERTIRCATE OF AUTHORIZATION NO, 30124

EXHIBIT 2
HAMMOCK RESERVE CDD LEGAL DESCRIPTION
(NOT A SURVEY)

EXHIBIT A CONSISTS OF SEVEN (7) PAGES, AND IS NOT COMPLETE WITHOUT ALL PAGES
,_

PAGE 6 OF 7

THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75 .00 FEET, A CENTRAL ANGLE/DELTA OF 27°49'07", A CHORD  BEARING  OF S-77 ° 46' 34" -E,  A CHORD DISTANCE  OF 36.06  FEET, FOR AN ARC LENGTH  OF 36.41 FEET TO A  5/ 8" IRON ROD AND CAP STAMPED "LB 8126 " ; THENCE 3) S-6 3°52 '00" -E, 68.61 FEET TO A 5/ 8" IRON ROD AND CAP STAMPED " LB 8126"; THENCE 4) S-00 °16' 21" -E, 60.00 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126"; THENCE 5) S-63 °52 '00" -E, 33.49 FEET TO A 5/ 8" IRON ROD AND CAP STAMPED "LB 8126" ; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, S-00 °16'19" -E, 408.82 FEET TO A 5/ 8" IRON ROD AND CAP STAMPED "LB 8126" SAID POINT IS ALSO A POINT OF CURVE CONCAVE WESTERLY; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 11 4°32'03" , A CHORD BEARING OF S-56 °59'53" -W , A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149 .93 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 8126 ", THENCE N-65 °43'55" -W, 1831.08 FEET TO A 5/ 8" IRON ROD AND CAP STAMPED " LB 8126 " ; THENCE N-65 °19 '34" -W, 460 .35 FEET TO A 5/8" IRON ROD AND CAP
STAMPED " LB 8126", THENCE N-00 °02'13 " -W, 72.98 FEET TO A 5/8" IRON ROD AND CAP STAMPED " LB 8126, SAID  POINT IS  ALSO A POINT ON A CURVE CONCAVE SOUTHW ESTERLY ; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46  FEET,  A CENTRAL  ANGLE/DELTA  OF 00 °56'39 ", A CHORD  BEARING  OF N-75 °36'08" -W,   A CHORD  DISTANCE  OF
51.63 FEET, FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 109.99 ACRES MORE OR LESS.

A SSO	I ATE S
En g i n e e r i n g , L
EXHIBIT 2 HAMMOCK RESERVE COD
LEGAL DESCRIPTION
( NOT  A SURVEY)

1 9 25 BARTOW ROAD • LAKELAND, FL 3380 1
OFFI CE: (863) 940-2040 •  FAX: (863) 940- 2044  •  CELL: (863) 662-0018 EM AIL: IN FO@WOO DCIVIL COM
CERTIFICATE O F AUTHORIZA TIO N NO. 30 124
EXHIBIT A CO NSISTS OF SEVEN ( 7 ) PAG ES, AND 15 NOT COM PLETE WITH OUT ALL PAGES

PAG E 7 OF 7
7	u	r
I

OLD POLK CITY ROAD IS NOT INCLUDED WITHIN THE CDD

L
I

DISTRICT
BOUNDARY

Tm

 	Hl

1925 BARTOW ROA D • LAKELAND , FL3 380 1
O FFICE: (863) 940-2040  •  FAX: (863) 940-2044  •  CELL: (863) 662-00 18 EM AIL: IN FO@WOODCM L COM

EXHIBIT 3 - DISTRICT BOUNDARY HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

N

NO
SCALE

 	 	

OLD POLK CITY ROAD

PROPOSED HAMMOCK RESERVE CDD

1925 BARTOW ROAD ­ LAKELAND, FL 33801
OFFICE: (863) 940-2040 ­ FAX: (863) 940-2044 ­ CELL: (863) 662-0018
EMAIL: INFO@WOODCIVIL.COM

RPUD - RESIDENTIAL PLANNED UNIT DEVELOPMENT
EXHIBIT 4 - ZONING MAP HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

 	  

 	 	

PROPOSED HAMMOCK RESERVE CDD
OLD  POLK  CITY ROAD

1925 BARTOW ROAD ­ LAKELAND, FL 33801
OFFICE: (863) 940-2040 ­ FAX: (863) 940-2044 ­ CELL: (863) 662-0018
EMAIL: INFO@WOODCIVIL.COM
EXHIBIT 5 - FUTURE LAND USE MAP HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

WETLAND AND FLOOD ZONE AE

FLOOD ZONE AE
FLOOD ZONE AE

FLOOD ZONE AE

OLD POLK CITY ROAD

WETLAND AND FLOOD ZONE AE

N

1925 BARTOW ROAD ­ LAKELAND, FL 33801
OFFICE: (863) 940-2040 ­ FAX: (863) 940-2044 ­ CELL: (863) 662-0018
EMAIL: INFO@WOODCIVIL.COM

LEGEND

FLOW DIRECTION DRAINAGE BASIN
COMPOSITE EXHIBIT 6 -DRAINAGE MAP HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

NO SCALE

PROPOSED HAMMOCK RESERVE CDD

OLD POLK CITY ROAD

LIFT STATION

PROPOSED HAMMOCK RESERVE CDD

LEGEND

WATER MAIN
N
COMPOSITE EXHIBIT 6 - EXISTING UTILITIES MAP HAMMOCK RESERVE
 COMMUNITY DEVELOPMENT DISTRICT
1925 BARTOW ROAD ­ LAKELAND, FL 33801
OFFICE: (863) 940-2040 ­ FAX: (863) 940-2044 ­ CELL: (863) 662-0018
EMAIL: INFO@WOODCIVIL.COM
GRAVITY SEWER MAIN FORCE MAIN

NO SCALE

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

SUPPLEMENTAL ENGINEER’S REPORT FOR CAPITAL IMPROVEMENTS

PREPARED FOR: BOARD OF
SUPERVISORS HAMMOCK RESERVE
COMMUNITY DEVELOPMENT DISTRICT

PREPARED BY:

1925 Bartow Road  Lakeland, FL 33801  863-940-2040

MARCH 25, 2021

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

TABLE OF CONTENTS

PURPOSE	1
EXHIBIT 7 – SUMMARY OF PROBABLE COST	1
EXHIBIT 10 – ASSESSMENT AREA TWO LEGAL DESCRIPTION…	1
CAPITAL IMPROVEMENTS
LIST OF TABLES & EXHIBITS
EXHIBIT 7–SUMMARY OF PROBABLE COST…	2
EXHIBIT 10 – ASSESSMENT AREA TWO LEGAL DESCRIPTION…	3-4
HAMMOCK RESERVE CDD SUPPLEMENTAL ENGINEER 'S REPORT

PURPOSE

The purpose of this report is to amend Exhibit 7 (Summary of Probable Costs) of the Engineer’s Report for the Hammock Reserve Community Development District dated December 17, 2019. Phase 1 remains unchanged, but the cost projections for Phase
2 have been adjusted to reflect current construction costs. Included in this Supplemental Engineer’s Report for Capital Improvements is an amendment to Exhibit 7 (Summary of Probable Cost) and Exhibit 10 (Assessment Area Two Legal Description).

EXHIBIT 7 (SUMMARY OF PROBABLE COST)
The cost projections for Phase 2 were adjusted to reflect current construction costs.

EXHIBIT 10 (ASSESSMENT AREA TWO LEGAL DESCRIPTION)
A legal description has been provided for Assessment Area Two (Phase 2 – 206 lots).

THE CAPITAL IMPROVEMENTS

The Capital Improvement Plan, (the “CIP”), consists of public infrastructure in Phases 1 and 2. The primary portions of the CIP will entail stormwater pond construction, roadways built to an "urban" typical section, water and sewer facilities 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 on-site retention 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. Below ground installation of telecommunications and cable TV will occur, but will not be funded by the District. The CDD will enter into a lighting agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way on District Land is included.
As a part of the recreational component of the CIP, a public park/amenity center will be within the development The public park/amenity center will have connectivity via sidewalks to the other portions of the District. The public park/amenity center will be accessed by the public roadways and sidewalks.
The improvements will be on land that upon acquisition of the improvement by the District, is owned by, or subject to a permanent easement in favor of, the district or another governmental entity.

Exhibit 7 Hammock Reserve
Community Development District Summary of Probable Cost

Infrastructure( l l(   9 l(   1  0l	Phase 2
(206 Lots)
2021-2023		
Offsite Improvements 151151	$ 150,000.00		
Stormwater Management 12113 115 1151	$ 510,000.00		
Utilities (Water, Sewer, & Street Lighting) 15 115 113 1	$1,780,000.00		
Roadway 1•115 1151	$1,380,000.00		
Entry Feature 151171	$ 300,000.00		
Parks and Recreational Facilities (l)(GJ		$    240,000.00
436,000.00	

Notes:
	Infrastructure consists of offsite improvements, public roadway improvements, stormwater management facilities, master sanitary sewer lift station and utilities, entry feature, landscaping and signage, and parks and recreational facilities.
Excludes grading of each lot both for initial pad construction, lot finishing in conjunction with home construction, which will be provided by developer or homebuilder.
Includes stormwater pond excavation. Costs do not include transportation to or placement of fill on private property.
Includes sub-grade, base, asphalt paving, curbing, and civil/site engineering.
Includes subdivision infrastructure and civil/site engineering.
Estimates are based on 2021cost.
Includes entry features, signage, hardscape, landscape, irrigation and buffer fencing.
CDD will enter into a Lighting Agreement with Duke Energy for the street light poles and lighting service. Only undergrounding of wire in public right-of-way and on District land is included.
Estimates based on Master Infrastructure to support development of all lots.
All financed improvements will be on land owned by, or subject to a permanent easement for the benefit of the District or another government entity.

2

HAMMOCK RESERVE CDD ASSESSMENT AREA TWO LEGAL DESCRIPTION

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, AND THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF COUNTY ROAD NO. 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TO D E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN O.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: ALL THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND ALL THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 {OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), LYING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°02'56"W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.75 FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD RIGHT OF WAY; THENCE CONTINUE  N00°02'56"W ALONG SAID WEST BOUNDARY,
81.65 FEET; THENCE S65°19'34"E, 515.47 FEET; THENCE S65°43'55"E, PARALLEL WITH, AND 30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF N56°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'00"E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION, AND THE SOUTHERLY PROJECTION OF THAT WEST BOUNDARY, 617.29 FEET TO ITS INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65°43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE CONCAVED SOUTHWESTERLY, HAVING  A RADIUS OF 2869.35 FEET, A CENTRAL  ANGLE OF 09°40'02",  A CHORD  BEARING  OF

3

N70°34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS: (REVISED 4/9/2020}

COMMENCE AT A 4"X4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13"-W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00002'13"-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55'33"-E, 135.45 FEET; THENCE N-00°04'27"-W, 44.46 FEET; THENCE N-89°55'33"-E, 50.00 FEET; THENCE N-00°04'27" -W, 60.54 FEET; THENCE N-89°55'33"-E, 200.00 FEET; THENCE S-00°04'27"-E, 110.00 FEET; THENCE S-89°55'33"-W, 5.00 FEET; THENCE S-00°04'27"-E, 50.00 FEET;  THENCE  S-89°55'33"-W, 97.72  FEET; THENCE  5-00°04'27"­ E, 380.00 FEET; THENCE N-89°55'33"-E, 992.72 FEET; THENCE N-00°04'27"-W, 85.00 FEET; THENCE N- 89055'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 23.43 FEET; THENCE N-89°55'33" -E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) 5-00°04'27"-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145,00 FEET; A CENTRAL ANGLE/DELTA OF 91°36'40", A CHORD BEARING OF 5-45°52'47"-E, A CHORD DISTANCE OF
207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18'53"-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27°49'07", A CHORD BEARING OF 5-77°46'34"-E, A CHORD DISTANCE OF 36,06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) 5-63°52'00"-E, 68.61 FEET; THENCE 4) 5-00°16'21"-E, 60.00 FEET; THENCE 5) 5- 63052'00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, 5-00°16'19"-E,  408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL  ANGLE/DELTA  OF 114°32'03",  A CHORD  BEARING  OF 5-56°59'53"-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43'55"-W, 1831.08 FEET; THENCE N-65°19'34" -W, 460.35 FEET; THENCE  ALONG  A  NON-RADIAL  LINE,  N-00°02'13"- W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00°56'39" A CHORD BEARING OF N-75°36'08"-W, A CHORD DISTANCE OF 51.63 FEET, FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/-ACRES.

4
Composite Exhibit B:

Methodology Report

8

MASTER ASSESSMENT METHODOLOGY

FOR

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

Date: December 17, 2019

Prepared by

Governmental Management Services - Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents
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
3.0 True-Up Mechanism	8
4.0 Assessment Roll	8
5.0 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 Hammock Reserve 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 Hammock Reserve Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Hammock Reserve 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 $14,000,000 of tax exempt bonds in one or more series (the "Bonds") for the purpose of financing certain infrastructure improvements ("Capital Improvement Plan") within the District more specifically described in the Engineer's Report dated November 18, 2019 prepared by Wood & Associates Engineering, LLC, 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 ("Capital Improvements") that benefit property owners within the District.

Purpose

This Master Assessment Methodology (the "Assessment Report") provides for an assessment methodology that allocates the debt to be incurred by the District to benefiting properties within the District. This Assessment Report allocates the debt to properties based on the special benefits each receives from the Capital Improvements. This Assessment Report will be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Capital Improvements. This Assessment Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments ("Special Assessments") on the benefited lands 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 109.99 acres within Haines City, Florida. The development program for the District currently envisions approximately 437 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 Capital Improvements contemplated by the District in the Capital Improvement Plan will provide facilities that benefit certain property within the District. Specifically, the District will construct and/ or acquire certain offsite improvements, stormwater

3
management facilities, utility facilities, roadways, entry features, and park and amenity features. 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 Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District's Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/ or construct the 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

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 withln 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 the District. The implementation of the Capital Improvement Plan enables properties withln the boundaries of the District to be developed. Without the District's Capital Improvement Plan, there would be no infrastructure to support development of land within the District. Without these improvements, development of the property within the District would be prohibited by law.

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

4
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 the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District's Capital Improvement Plan that is necessary to support full development of property within the District will cost approximately $10,715,000. The District's Underwriter projects that financing costs required to fund the 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 $14,000,000. Without the Capital Improvement Plan, the property within the District would not be able to be developed and occupied by future residents of the comm uni ty.

Assessment Methodology

Overview

The District anticipates issuing approximately $14,000,000 in Bonds in one or more series to fund the District's entire 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 $14,000,000 in debt to the properties within the District benefiting from the 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 the District. The District has commissioned an Engineer's Report that includes estimated construction costs for the Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Capital Improvements needed to support the development are described in detail in the Engineer's Report and are estimated to cost $10,715,000. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for the Capital Improvements and related costs was determined by the District's Underwriter to total approximately $14,000,000. Table 3 shows the breakdown of the Bond sizing.

5

Allocation of Debt

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

The initial assessments will be levied on an equal basis to all gross acreage 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 the District are benefiting from the 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 the District, which are the beneficiaries of the 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 Capital Improvement Plan consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There is one product types within the planned development. The single-family 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 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 Capital Improvements will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities,

6
roadways, entry features, and park and amenity features. The benefit from the 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 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 Capital Improvements actually provided.

For the provision of the 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 Capital 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 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 Capital Improvement Plan have been apportioned to the property 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

7
debt allocation assuming all anticipated assigned properties are built and sold as planned, and the entire proposed Capital Improvement Plan is constructed.

3.0	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 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 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.

8

Land Use	Total Assessible
Units	
ER Us per Unit (1)	
Total ERUs	

Single Family	
437	
1 .00	
437	
Total Units	437		437	

Benefit is allocated on an ERU basis; based on density of planned development, with Single Family 50' = 1 ERU

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

c:o

Prepared by: Governmental Management Services - Central Florida, LLC

Capital lmprove'!}ent Plan ("CIP") (1)	 	Phase 1	Phase 2		Cost Estimate

	Offsite Improvements	$	190,000	$	170,000	$	360,000	
	Stormwater Management	$	2,100,000	$	1,900,000	$	4,000,000	
	Utilities (Water, Sewer, & Street Lighting)	$	1,120,000	$	990,000	$	2,110,000	
	Roadway	$	790,000	$	690,000	$	1,480,000	
	Entry Feature	$	568,000	$	507,000	$	1,075,000	
	Parks and Recreational Facilities	$	420,000	$	380,000	$	800,000	
	Contingencies	$	470,000	$	420,000	$	890,000	
		$	5,658,000	$	5,057,000	$	10,715,000	

0					

(1) A detailed description of these improvements is provided in the
Engineer's Report dated November 18, 2019 including Exhibit 7, atteched hereto

Prepared by: Governmental Management Services - Central Florida, LLC

Descrip_tion Construction Funds Debt Service Reserve Capitalized Interest Underwriters Discount Cost of Issuance Contingency

Par Amount*
Total
$	10,715,000
$	1,017,085
$	1,680,000
$	220,000
$	280,000
$	87,915

$	14,000,000

Bond Assumptions: Interest Rate Amortization Capitalized Interest Debt Service Reserve Underwriters Discount

6.00%
30 years
24 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
% of Total No. of Units*	ERU Factor  Total ERUs	ERUs
Total Improvements Costs Per Product Type
Improvement Costs Per Unit

Single Family	437	1	437	100.00%	$	10,715,000	$24,519

Totals	437	437	100.00%	$	10,715,000

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

N

Prepared by: Governmental Management Services - Central Florida, LLC

	Total Improvements	Allocation of Par		
	Costs Per Product	Debt Per Product		
Land Use	No. of Units*	Type	Type	Par Debt Per Unit	

Single Family	437	$	10,715,000	$	14,000,000	$32,037

Totals	437	$	10,715,000	$	14,000,000

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

..,_
(;)

Prepared by: Governmental Management Services - Central Florida, LLC

	Net Annual	Gross Annual			
Allo cation of Par		Maximum	Debt	Debt	
Debt Per Product	Total Par Debt Per	Annual Debt	Assessment	Assessment	
Land Use	No. of Units*		 	Type		Unit		Service		Per Unit	Per Unit (1) Single Family		437	$		14,000,000	$32,037	$		1,017,085	$		2,327	$	2,503
Totals	437	$	14,000,000	$ 1,017,085

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

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

-1:>

Prepared by: Governmental Management Services - Cent ral Florida, LLC

	Total Par Debt		Net Annual Debt	Gross Annual				
	Allocation Per	Total Par Debt	Assessment	Debt Assessment				
Owner	Property ID #'s*	Acres	Acre	Allocated	Allocation	Allocation (1)		

Amcope Corp.	27-27-19-742520-000011	29.47	$127,284	$	3,751,068	$	272,511   $	293,023
Amcope Corp.	27-27-19-742520-000020	80.52	$127,284	$	10,248,932	$	744,574	$	800,617

Totals	109.99	$	14,000,000	$	1,017,085	$	1,093,640

(1) This amount includes 7% to cover collection fees and early payment discounts when collected utilizing the uniform method.

	Annual Assessment Periods	30	

0,	Projected Bond Rate(%)	6.00%	
	Maximum Annual Debt Service	$1,017,085	

* - See Metes and Bounds, attached as Exhibit A		

Prepared by: Governmental Management Services - Central Florida , LLC

LEGAL DESCRIPTfON

Tract#1; All of the Re lat of a part of 'Jolf Grounds Estates and Agua Vista Country Club, Haines Cit'/, Flo_ri da, as shown by map or plat thereof recorded ih 'Pl at Book 41, Page 26, Public Records of .Polk County, Florida, LESS AND EXCEP"t that pllrt thereof as set forth in Final Judgment Cilse No. 18404-31-542, filed June 27, 1968, recorded in O.R.  Book 1164, Page 498, Public Records of Polk Count y, Florida and LESS AND EXCEPT beginning at the. Northwest (NW) corner of the Northwest Quarter {NW 1/4) of Section 19, Township 27 Soµth, Rang<! 27 East, and then run South Eighty-seven {87) feet more or less to the easterly boundary line of the right of way of County Road No. 17, then run in a easterly direction a distance of 87.2.50 feet more or less to a poirtt 118 feet South of the South boundary line of Section 18, Townshrp 27 South, Range 27 East; then run nQrth 118 feet  to  the South boundary line of said Section 18, then run We$t along the said South Boiindary line a distance of  871.9S feet  to the point of b eginning.
ALSO LESS ANO EXCEPT'that portion conveved to D E Ranch, Int.., a Florida corporation, by deed recorded in O.R. Book 10268,
Page 2011, Public Records of Polk County , Florida"
T,:act #;!: All th.at part of West half of NE 1/4 of NW 1/4 arid all that part of NE1/4 of NW 1/ 4 of NW 1/4  (or  NE 1/4  of United States Government lot 11, lying North of the ACL Railroad Right of Way in Section 30, To,11nship 27 South, Range 27 East, Polk County, Florida.

LESS and EXCEPT that portion of Tract #2 lying wfthir. and North of the right of way of Jo_hnson Avenue West.

LESS and EXCEPT that portion of Tracts #1 ahd .2 con11eyed ·by d_eed recorded in 0.R. Book 8:!78, Page '195'8, P blic Records of Polk County, Florida, being more particularly described as follow;:

Commence . at the Southwest corner of Section 1.9, Township 27 South , Range 27 East; Paik County, Florida and run N00"0.2'56"W, along the West boundary of said Section i9, .280.75 feet to the Point of Beginning, said point being on the Northerly right of  wdy boundary  of  the  CSX railroad  right of  way;_th ence corttin.ue N00°02'56"W .along   said West boundary,
81.65 feet; thence S65'19'34"E , 515.47 feet; thence S65 43'5S"E, parallel with, and 30 feet Northerly  of  said railroad right of v.11y, 1831.08 feet to ,he beginning of a curve concaved. Northwesterly, having a radius of 75..00 feet, a central angle of 114'32'24", a chord bearing of  NS&•s9'S3"E,  and a chord distan.ce of- 110,   iS  fee.t;  thence along sald i:,irve, an are distance of
149.93 feet to the end of said curve: thence i-Joo•1G'l9  " W,   408.82 feet; thence N63°52'00"W, 33.49 feet ; thence Noo•16'21"W,
60.00 feet to the.Southerly right of way·bounda ry of Johnson Avenue; thence S63°52'00"E, along said right of way boundary,
66.99 feet ; thence·S00"l6'l.9''E, along the West boundary of lake Hester Estates SubdivlSie>n; and the Sout h erly·projection of that West boundary, 617.29 fe:et to its intersectitm with the aforementioned Northerly right of way <Jf the CSX railroad; thence Nss•43'SS"W  along said right  df  way,.1994,45  feet  to  the beginning of  a curve concaved  Southwesterly, having a radius of
2869.3S·feet, a central angle o-f 09°40'02«, a chord bearing of N70•34:01"w, and a chord distance of483.55 feet; thence along said curve, an arc distance of 484,13 feet to the Pointof Beginning.

ANDlESS

THAT PART OF THE NORTHWEST QUARTER OF .SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTV, FLORIDA DESCRIBED AS:
COMMENCE AT A 4" X 4" CONCRETE MONUMENi STAMPED '1.$ 1943" STANDING AT THE NORTHWEST CORNER OF THE NORTHWESTQUARTfR OF SAID SECTION 19, AND RUN THENCE ALONG THE NORTH dNE TH.EREOF,N s9•ss• 3s•  -e,1617.81 FEET; THENCE DEPARTING SAID NORTH LINE, S-00•0 4'27"-E, 764.04 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE 5·00°04'2.7"-E, $36.47 FEET; THENCE ALONG A NON-RADIAL LINE S-41.17'42''-W, 340.63 FEET TO A POINT ON THE EASTERLY RIGHT-Of-WAYOF' OLD POLK CITY ROAD (STATE ROAD S•17 ) P€R OFFICIAL RECORDS BOOK..1164, PAGE 498, PUBLIC RECORDS OF POLK COl)tffY, FLORIDA, SAJD POINT ALSO BEING A POJNT ON A CURVE CONCAVE NORTHEASTERLY; THENCE
NORTHWESTERLY ALONG SAID CURVE HAVING ARADIUS OF 1105.92 FEET, A CENTRAL ANGLE/DELTA OF 0 2°36'03", A CHORD BEARING OF N-53'40'29"-W, A CHORD DISTANCE OF 50.20 FEET, FOR AN ARC LENGTH OF 50.20 FEET; THENCE DEPARTING SAID EASTERLY RIGrlT-OF0 WAY, AND ALONG A NON-AADIAL LINE, N:41°17'42"-E, 193.47 FEET; THENCE N-00"09'47",E, 59.3.50 FEET; THENCE S-89°49'38"-E, 163.01 FEET TO THE POINT OF BEGINNING.
ANDLE.SS

THAT PART OF THE NORTHWEST QI.JARTER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FL01UDA DESCRIBED AS:

COMMENCE AT A 4'' X 4" CONCRETE' MONUMENT STAMPED '1.S 1943'' STANDING AT THE NORTHWEST CORNER OF THE NORTHWEST QUARTER OFSAiD SECTION 19, AND RUl'HHENCE ALONG THE NORTH LINE THERtOF N-89"55':IS" -E, 1617.81 FEET;
THENCE  DEPARTING .sAlD  NOR.'rH  LINE,  s..oo·04'2J"-Ei 1300.Sl,  FEET  TO  THE  POINT  OF  BEGINNING;  THENCE  CONTINUE 5-00"04'27"-E, AND ALONG A NON-RADlAl LINE, 366 .2 l FEET A 4" X 4" CONCR!:TE MONUMENT Wl'l'H NO' IDENTIFICATION STANDING 011/ THE EASTERLY RIGHT-0 -WAY OF OLD POLI< crrv ROAD (STATE ROAb S-17) PER OFFICiAL RECORDS.BOOK 1164,
PAGE 498, PUBLIC RECORDS OF POLK COUNTY. FLORIDA, SAID POINT ALSO BEING A POINT .OF CURVE CONCAVE NORTHEASTERLY;  THENCE . ALONG SAID EASTERLY RIG.HT ::>F-WAV  THE FOLLOWING  THREE (3) COURSES:  :!;)_NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS Ot 109$.92 FEET, A CENTRAL. ANGLE/DELTA OF 00•37'28", A CHORD BEARING 01' N°67.52'05"-W, A CHORD  DISTANCE OF 11.95 FEET, FOR AN ARC LE1'4GTH  OF 1,1.95 FEET; THENCE. 2)  -6.LONG A RA.DIAL  LINE
$ 0 22.26'39"-W, 10.00 :-E.fT TO A POI.NT OF CURVE CON.CAVE NORTHEASTERLY;THENCE 3)NORTHWESTERLv ALONG SAID CURVE: HAVING A RADIUS OF 110$.92 FEET, A .CENTRAL ANGLE/DELTA OF 1.2·26'50", A CHORD BEARiNG OF N-si•19's6"-W, A CHORD - DISTANCE  OF 2l9.78  •EET,  FOR AN ARC LENGTH OF 240.25 FEET;  THENCE  DEPARTING  SAID  EASTERLY  RIGHT-OF-WAY,  ANO ALONG A NON•RAOIAL LINE, N-41'17'42"-E,'340.63 FEET TO THE Pi::llNT OF 11.EG!NN ING.

-

WO O D
ASSOCIATES
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!=XHIBIT 2
HAMMOCK RESERVE COD LEGAL DESCRIPTION
.	(NOT A SURVEY}
EXHIBIT A CONSISTS OF SEVEN (7) PAGES,
/><ND JS NOT COMPLETE WITHOUT ALL PAGES

PAGE 5 OF 71

AND All BEING FURTHER DESCRIBED AS:

COMMENCE AT A 4» X 4" CONCR"ETE MONUMENT STAMPED "lS 1943" STAN.DINGAT THE NORTHWEST CORNER OF THE NORTHWEST QUARTER OF SECTION 19, TOWNSHIP  27  SOUTH, RANGE 27 EAST, POU< COUNTY, FLORlDA, AND  RUN
THENCE  ALONG  THE WEST BOUNDARY  OF SAID .SECTlON 19, s-00•021' 3"·91.40 FEET TO  A  S/8" IRON ROD  ANO CAP STAMPED "LB 8126" STANDING AT THE .INTERSECTION OF SAID WEST BOUNDARY AND THE NORTH EASTERLY RIGHT-CF-WAY OF OLD POLK CITY ROAD (STATE R0AD5--17) ACCORDING TO THAT ootuMi:NT REC:OROBO IN OFFICIAL
RECORDS SOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNT'/, FLORIDA, SAID INTERSECTION POJNT IS ALSO THE POINT .OF BEGINNING; THENCE DEPARTING SAiD WEST BOUNDARY ANO SAID NORTH EASTERLY RIGHT•OF·WAY ,
s,ss•1 9• • -t; 872.41 FETT TO A 4" X 4" CON.CRETE MONUMENT STAMP.ED "LS 1943 ; THENCE N-00'04'25"-W, 118.00
FEET TO A POINT ON THE NORTH LINE OF THE NORTHWE!>t QUARTER-OF SAID SECTION 19; THENCE ALONG SAID NORTH LINE N-89"55'35"-E, 745.86 EET; THENCE DEPARTING SAID NORrH LINE, s-00•0•42r -E. 764.04 FEET; THENCE N'S9"49'33"-W, 163.01 FEET; THENCE S-00"09'47"-W,593.SO FEET; THENCE S48"42'18"<E, 3&.95 fE(l'; THENCE ALONG A NON•AADIALliNE, S-41.17'42"-W, l93,47FEET TO A .POINT ON SAID NORTH EASTERLY RIGHT-Of -WAYOF OLD POU< CITY ROAD (STATE ROAD S-17), SAID POINT IS ALSO A POINT ON A CURVE CONCAVE NORTHEASTERLY; THENCE ALONG SAID NORTHEASTERLY RIGHT•OF•WAY, AND NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 1105.92 FEET, A CENTRAL ANGLE/DELTA OF 09•35•00•, CHORD BEAIUNG Of N-47'42'58"-W, A CHORD OISTANCC OF 184.76 FEET, FOR AN ARC LENGTH OHS4.98 fEET·TO A S/8" IRON ROD AND:CAP STAMPED "LB 81:16"; THENCE'. CONTINUE ALONG SAID NORTH EASTERLY RIGHT-Of-WAY N-42··ss•2s·-w, 1787.64 FEfTTO THE POINT Of BEGINNING.

ANDc
COMMENCE ATA 4"X4" CONCRETE MONUMENT wm; NO IOENTlFlcATION STANOING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 SOU'T'H, ?du( COUNTY, FLORIDA ANO RUN THENCE ALONG THE W.EST BOUNOARY OF SAID SECTION l!l , N-00"02'i3"-W, 475..20 FEET Tb A S/8" IRON ROD ANO CAP STAMPED "Lil 812Gi", SAID POINT ALSb llEING THE INT OF BEGINl)I!!'!§; THENCE CONTINUE ALONG SAID WEST BOUNDARY., ANO CONTINUING
N-00·02•1 3•.w; 920.96 FEETTO AS/8" IRON ROOAND CAP STAMPED •ts ·S126"; j,AlD POINTIS HEREBY DESIGNATto:As POINT   A•    TO  BE  USED  H£REiN   AFTER;   TH.EN.CE  CONTINUE  ALONG  SAID  WEST  SOUNDAl! Y;   ANO  CONTINUING N•00'0:2'13"-W; 60.32 FEET, MORE OR LESS; TO THE EDGE OF LAKE LOWRY; THENCE DEPARTING SAID WEST BOUNDARY, MEANDER NORTHWESTl:RLY ALONG THE EDGE OF IJ\KE LOWRY TC ITS INTERSECTION WITH A LIN£ THAT LIES 650 FEET WESTER Y O.F AND PARALLEl WITH THE EASTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD, SAID POINT OF INTERSECTION LIES N•34.26'13"·E, ANO 1518.68 FEEt DISTANT FROM SAID DESIGNATED POINT "A"; THENCE DEPARTING SAID EDGE OF   LAKE LOWRY, AND .ALONGSAID PARA LEL LIN£. N•00°04'27, " W, 214.6.2 FI ET TOA POINT ON A CURVE CONCAVE SOUTHERLY; THENCE SOUTHEASTERLY ALONG SAID CURVE HAVING A RAOIUS Of 842.42 FEET, A CENTRAL ANGi.E/bHTA Of 23•10'19", A CHORD BEARING Of S-79'15'00"•f, A CHORD DISTANCE OF 33838 FEET, FOR AN ARC
LENGTH  OF  340.70  FEET  TO  A  s;s· IRON  ROD  STAMPED  "tB  8126N   ANO  A  POINT  OF  CUSP/CURVE   CONCAVE
NORTHEASTERLY; THENCE NORTHWESTERLY ALONG SAID c;u.RVE HAVJf'JG A RADJUS OF 513.86 FEET, A CENTRAL ANGLE/DELTA OF 03'1i'13", A CHORD BEARING Of l•M 7'06'30"·W, A CHORD DISTANCE OF 28.58 FEE'!', FOR AN ARC LENGTH OF 28.58 FEET TO A 5/8" IRON ROD AND CAP .STAMPW "LB 8126" AND A POINT OF CUSP/CURVE CONCAVE SOUTHWESTERLY; THENCE SOUTHEASTERLY ALONG SAID C!JRVE HAVING A RADIUS .OF 867.42 FEET, A CENTRAL ANGLE/DELTA OF 01°52'53" A CHORD SEARING OF S-67"39'0.5"-E, A CHORD O.!STANCE OF 28.4$ FEET, FOR AN ARC LENGTH OF 28,48. FEET TO A 5/8" IRON ROD AND CAP STAMPED ''LB 8126'' ANO A POINT OF CUSP/CURVE CONCAVE EASTERLY;
THENCE NORTHWESTERtY ALONG SAID CURVE HAVING A RADIOS. OF 488.86FEET, A CENTRAL ANGLE/ DELTAOF 10°20'24",
A CHORD BEARING OF N-01'54'19"-W, A CHORD DISTANCE OF 88.10 FEET, FOR AN ARC LENGTH OF ss;n FEET iO A
5/8" IRON ROD AND CAP STAMPED "LB 8126" TO .A POINT OF REVERSE CURVE CONCAVE SOUTHWESTERi.Y; THENCE NORTHWESTE.Ri.YA LONGSAID CURVE HAVING ARADIUS OF 514.89 FEET, A CHORD BEARING OF N-09°33'1GN·W, ACHORD DISTANCE OF 228.48 FEET, FOR AN ARC LENGTH OF 230.40 FEET TO .A 5/8" 1RON ROD AND CAP STAMPED "LB 8126"; THENCE N-os•39•1s"-E, 424.44 FEET TO AS/8" IRON ROD.ANDCAP STAMPED "LB 8132"; THENCE N-06°S1'08"-W, :i.25.00 FEIT TOAS/8" IRON ROD ANO CAP $TAMPED "LS Si26"; THENCE N-27'54'56"-W, 137.20 .FEET TO A 5/8" IRON ROO AND CAP STAMPED "LS S126";THENC£ N-56'43'58"·£, 55;00 FEIT TO A S/8'' IRON ROD AND CAP STAMPED "LB 8126"; THENCE N·i6"37'.46"·W,140.00 FEET TO A 5/l!" IRON ROD ANO CAP STAIVIPED " LS.g126 ; THENCE N-47'06'2 "-E,37.32 FEIT TO A 5/8" IRON ROD AND CAP STAMPED "LS 8126" STANDING ON THE SOUTHWESTERLY fllGHt-OF-WAY OFOLO POLK CITY ROAD (STATE ROAD 5•17) ACCORDING TO THAT DOCUMENT RECORDED IN OFFIClAL RECORDS BOOK1164, PAGE 498, PUBLIC RECORDS OF POi.K COUNTY, FLORIDA; TH NCE ALONG SAIC SOUTHWESTERI.Y RIGH_T;Of•WAV THE. FOLLOWING
FNE {5) COURSES: l l"S•4 3°2S'3S;  '- E1 15.84FEET to  A 5/8" IRON ROD AND CAP STAMPED "LB 8126"; THENCE 2) AlONG A
NON-RAOIAL LINE N-46'11'39%, 10.00 FEET TO A.S/ 8" IRON ROD AND CAP STAMPEO "LB 8126", SAID POINT IS ALSO A POINT OF CURVE CONCAVE NOFI.THEA5TERLY; TliENCE 3) SOUTHEASTERLY ALONG SAJD CURVE HAVING A RADIUS OF 1185 ,92. £ET, A CENTRAL A.NGLE/DELTA OF 08°033'-0"; A CHORD SEARi.NG OF 5-47°50'06"-E, A CHORD DISTANCE OF
166.66 FEET FOR AN ARC LENGTH Of  166;79 FEET TO, A 5/3'.' IRON ROD AND CAP STA11,1PEO  "i.B 8126"'; TH.ENCE  4)
S-42"53'4 2"' E, 110 ;24 FEET Tb AS/8" IROl>i ROO ANtt cAJ> STAi\.iPEO "LB 8132: -SAIO POINT IS Al-SO A POINT Of CURVE CONCAVE SOUTHWEmRI.Y; THEN(;E 5) SOUTH ERLY ALONG SAID CURVE HAVING A RADIUS .OF 300.00 FEET, A
CE.NTRAL ANGLE/DELTA OF 4z•49•1s", A CHORD SEARING OF s-21"29'05"-E, A CHORD DISTANCE OF 219.03 FEET, OR AN ARC LENGTH OF 224.21 FEETTO A 5/8" IRON ROD AND·cAP STAMPED "LB 8126" Si ANDING ON THE WESTERLY RIGHT OF WAY OF PRADO GRANDE ROAD; THENC!: ALONG SAID WESTERLY RIGHT OF WAY THE FOLLOWING SIX: /6) COURSES; THENCE 1) S-00'04'27".f, 99U2 FEET TO A 5/a." IRON ROD AND CAP STAMPED "LB 8126"; THEN(:E  2) $-14°36'35"-W,
118.26 FEET TO.A 5/8" IRON ROD AND cAP STA.MPED ",LB Si26"; THENCE3) s,oo·o:i•35•.w, 199.75 FEET TO A 5/ 8" IRON
ROD ANO CAP STAMPED " LB 8126"; THENCE 4) s- s·ss•1i " - E, 1S6.16 FEIT TO A S/8" IRON RO!J ANO CAP 'STAMPED ·'LB
8126'; THENCE S) S-00"04'2 7"-E, 1946.S3 FEET TO A:5/8" IRON ROOAND CAI? STAMPED "LB 8126", SAl.D POlNT IS ALSO A POI.NT OF(;Uf\VE CONCAVE EASTERLY; THENCE 6)  SOUTHEASTERLYALONG·JA!D CURVE HAVING A·RADIUS OF 14$,00 FEET, A CENTRAL ANGLE/DELTA OF 91.36'40", A CHORD SEARING OF S-15"52'47"- ; A CHORO DISTANCE OF 207.92 FEET, FOR AN ARC LEN.GTH OF 231,84 FEET TO A 5/8" IRON ROD AND Ct..P STAMPED " LB 8125" ST.A.NO/NG ON THE SOUTHERLY RIGHT-Ol'-WAY OF \'JEST JOHNSON AVENUE; THENCE ALONG SAID SO()THERlY RIGHT"OFWAY THE FOLLOWING F!VE(5)
COURSES: l) 1'1-88.18'53"-E, 493,84 FEET TO A 5/8" IRON ROD AND CAP STAMPED "LB 81 26" SAID PC1NT IS ALSO A POINT
OF CURVE.CONCAVE SOUTHERLY;

125 8-ll W itO.J.O • lµE:iAr:O, Ft:"! !·Oi
o.mt (86l; 9,1-;.,2 ". ;,« tee:j) -\d,.2.c '-4 • -ctLL : ,M .or&
EXHIBIT 2 HAMMOCK RESERVE CDD
LEGAL DESCRIPTION
(NOT A SURVEY)
EXHIBIT A CONSISTS OF Sl:'/EN (7) PAGES.
EMA IN'IO "/ O'M t:OM
-  aRm1CAv  o,:.i•nH6	NNO l6•u
ANO lS NOT COMPLETE W!THOllT ALL PAGES

PAGE 6 OF 7

SUPPLEMENTAL
ASSESSMENT METHODOLOGY (PHASE 1WO)

FOR

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

Date: April 20, 2021

Prepared by

Governmental Management Services - Central Florida, LLC 219 E. Livingston St.
Orlando, FL 32801
Table of Contents
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	7
Lienability Test: Reasonable and Fair Apportionment of the Duty to Pay Non-Ad Valorem Assessments	7
3.0 True-Up Mechanism	8
4.0 Assessment Roll..................·	8
5.0 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 Hammock Reserve 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 Hammock Reserve Community Development District with financial advisory services or offer investment advice in any form.
Introduction

The Hammock Reserve 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 has issued $4,990,000 of tax-exempt bonds (the "Bonds") for the purpose of financing a portion of certain "Phase 2" infrastructure improvements ("Assessment Area Two Project") within the District more specifically described in the Engineer's Report dated March 25, 2021, noted as "Phase 2" on Exhibit 7 ("Assessment Area Two") prepared by Wood & Associates Engineering, LLC, 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 Improvement Plan ("Capital Improvements") that benefit property owners within the District.

Purpose

This Supplemental Assessment Methodology (the "Supplemental Report") supplements the Master Assessment Methodology, dated December 17, 2019 ("Master Report" and, together with the Supplemental Report, the"Assessment Report"). The Assessment Report provides for an assessment methodology that allocates the debt to be incurred by the District to benefiting properties within Assessment Area Two of the District. This Supplemental Report allocates the debt to properties based on the special benefits each receives from the Assessment Area Two Project. This Assessment Report may be supplemented with one or more supplemental methodology reports to reflect the actual terms and conditions at the time of the issuance of each series of Bonds issued to finance all or a portion of the Assessment Area Two Project. This Assessment Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, with respect to special assessments and is consistent with our understanding of case law on this subject.

The District intends to levy, impose and collect non ad valorem special assessments ("Special Assessments") on the benefited lands within Phase Two of 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 109.99 acres within Haines City, Florida. Assessment Area Two comprises of approximately 41.04 acres. The development program for Assessment Area Two of the District currently envisions approximately 206 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.

3
The Capital Improvements contemplated by the District in the Assessment Area Two Project will provide facilities that benefit certain property within the District. Specifically, the District will construct and/ or acquire certain offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. 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 Capital Improvements.
The District Engineer determines the assessable acres that benefit from the District's Capital Improvements.
A calculation is made to determine the funding amounts necessary to acquire and/ or construct the 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

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 Supplemental Report, these general benefits are incidental in nature and are readily distinguishable from the special and peculiar benefits, which accrue to property within Assessment Area Two of the District. The implementation of the Assessment Area Two Project enables properties within the Assessment Area Two boundaries of the District to be developed. Without the District's Assessment Area Two Project, there would be no infrastructure to support development of land within Assessment Area Two of the District. Without these improvements, development of the property within Assessment Area Two of the District would be prohibited by law.

The general public and property owners outside of the District may benefit from the provision of the Capital Improvements. However, any such benefit will be incidental for the purpose of the Assessment Area Two Project, which is designed solely to meet the needs of property within the District. Properties outside of the District boundaries do not depend upon the District's Capital Improvements. The property owners 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:

4

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 Assessment Area Two of the District will be equal to or greater than the costs associated with providing these benefits. The District Engineer estimates that the District's Assessment Area Two Project that is necessary to support full development of property within Assessment Area Two of the District will cost approximately $4,796,000. The District's Underwriter projects that financing costs required to fund a portion of the Assessment Area Two Project costs, the cost of issuance of the Bonds, the funding of a debt service reserve account and capitalized interest, will be $4,990,000. Developer is expected to complete the balance of the Assessment Area Two Project. Without the Assessment Area Two Project, the property within Assessment Area Two of the District would not be able to be developed and occupied by future residents of the comm unity .

Assessment Methodology

Overview

The District has issued $4,990,000 in Bonds to fund a portion of the District's Assessment Area Two Project, provide for capitalized interest, a debt service reserve account and pay cost of issuance. It is the purpose of this Supplemental Report to allocate the $4,990,000 in debt to the properties within Assessment Area Two of the District benefiting from the Assessment Area Two Project. 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 Assessment Area Two of the District. The District has commissioned an Engineer's Report that includes estimated construction costs for the Capital Improvements needed to support the development; these construction costs are outlined in Table 2. The Capital Improvements needed to support the development of Assessment Area Two are described in detail in the Engineer's Report and are estimated to cost $4,796,000. Based on the estimated costs, the size of the Bond issue under current market conditions needed to generate funds to pay for a portion

5
of the Capital Improvements and related costs was determined by the District's Underwriter to total $4,990,000. 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 is completed. Until the platting process occurs, the Capital Improvements funded by District Bonds benefits all acres within Assessment Area Two of the District.

The initial assessments will be levied on an equal basis to all gross acreage within Assessment Area Two of 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 Assessment Area Two of the Dish·ict are benefiting from the Capital Improvements.

Once platting or the recording of a declaration of condominium of any portion of Assessment Area Two 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 the District, which are the beneficiaries of the Assessment Area Two Project, 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 Assessment Area Two Project consists of offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features and professional fees along with related incidental costs. There is one product type within the planned development. The single-family home has  been set as the base unit and has been assigned one equivalent residential unit ("ERU"). Table 4 shows the allocation of benef,it to the particular product type. It is important to note that the benefit derived from the Capital Improvements on a particular unit will exceed the cost that the unit will be paying for such benefits.

6
Lienability Test: Special and Peculiar Benefit to the Property

Construction and/ or acquisition by the District of its proposed Capital Improvements will provide several types of systems, facilities and services for its residents. These include offsite improvements, stormwater management facilities, utility facilities, roadways, entry features, and park and amenity features. The benefit from the 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 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 Capital Improvements actually provided.

For the provision of the Assessment Area Two Project, 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 Capital 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 Assessment Area Two Project 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 Assessment Area Two Project have been apportioned to the property 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 Assessment Area Two 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

7
allocation will not be increased more than the debt allocation set forth in the 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 Assessment Area Two Project is constructed.

3.0	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. 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. To preclude this, when platting for 25%, 50%, 75% and 100% of the units planned for platting has occurred 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 Assessment Area Two of 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.

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	Total Assessible			
Land Use	Units	ERUs p_er Uni!_ll)	Total ERUs	

Single Family	
206	
1.00	
206	
Total Units	206		206	

Benefit is allocated on an ERU basis; based on density of planned development, with Single Family= 1 ERU

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

c:o

Prepared by: Governmental Management Services - Central Florida, LLC

Capital Improvement Plan ("CIP") (1)		

Offsite Improvements	
$	150,000	
Stormwater Management	$	510,000	
Utilities (Water, Sewer, & Street Lighting)	$	1,780,000	
Roadway	$	1,380,000	
Entry Feature	$	300,000	
Parks and Recreational Facilities	$	240,000	
Contingencies	$	436,000	

 	$	4,796,000 
..,_
0

(1) A detailed description of these improvements is provided in the Engineer's Report dated March 25, 2021

Prepared by: Governmental Management Services - Central Florida, LLC

Description	Total

Sources
Par	$	4,990,000
Premium	 $	85,153
Total Sources  $		5,075,153

Uses
Construction Funds	$	4,433,522
Debt Service Reserve	$	278,100
..,_	Capitalized Interest	$	79,256
Underwriters Discount	$	99,800
Cost of Issuance	 $	184,475
Total Uses   $	5,075,153 

Bond Assumptions:

Prepared by: Governmental Management Services - Central Florida, LLC

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

Single Family	206	1	206	100.00%	$	4,796,000	$23,282

Totals	206	206	100.00%	$	4,796,000

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

.,.>.
N

Prepared by: Governmental Management Services - Central Florida, LLC

Total Improvement s	All ocat ion of Par Costs Per Product	Debt Per Product
  Land Use	No. of Units *	Type	Type	Par Debt Per Unit

	Single Fam i ly		206	$	4,796,000	$	4,990,000	$24,223	
		Totals	206	$	4,796,000	$	4,990,000		

* 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	Assessm ent	
Land Use	No. of Units *	 	Type	Per Unit	Service	Per Unit	Per Unit (1) 

Single Family		206	$	4,990,000	$24,223	$	194,400	$	1,350	$	1,450	
	Totals	206	$	4,990,000		$	278,100			

(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

.I>,

Prepared by: Governmental Management Services - Central Florida, LLC

Total Par Debt		Net Annual Debt		Gross Annual Allocation Per	Total Par Debt		Assessment	Debt Assessment
Owner		 Property ID #'s*	Acres		Acre		Allocated		Allocation		Allocation (1) JMBI Real Estate, LLC		See Attached Legal	41.04	$		121,589	$		4,990,000	$		278,100	$		299,032
Totals	41.04	$	4,990,000	$	278,100	$	299,032

(1) This amount includes estimated 7% to cover collection fees and early payment discounts when collected utili zi ng the uniform method.

(11

- See Metes and Bounds, attached as Exhibit A

Prepared by: Governmental Management Services - Central Florida, LLC
HAMMOCK RESERVE COD ASSESSMENT AREA TWO LEGAL DESCRIPTION

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, ANO THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE Of THE RIGHT OF WAY OF COUNTY ROAD NO, 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TOD E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN 0.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: All THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND All THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 (OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), l YING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°021S611W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.7S FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD  RIGHT OF WAY; THENCE CONTINUE N00°021S611W ALONG SAID WEST BOUNDARY,
81.65  FEET;  THENCE  S65"19'34"E,  515.47  FEET;  THENCE  S6S0   43'5S"E,  PARALLEL  WITH,  AND  30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF NS6°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'0011E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION, AND THE SOUTHERLY PROJECTION OF THAT WEST BOUNDARY, 617.29 FEET TO ITS INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65"43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE CONCAVED SOUTHWESTERLY, HAVING A RADIUS OF 2869.35 FEET, A CENTRAL ANGLE OF 09°40'02", A CHORD BEARING OF

3

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N70"34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS: (REVISED 4 / 9 / 20 20)

COMMENCE AT A 4"X4" CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13,,·W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00002'13"-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55'33"-E, 135.45 FEET; THENCE N-00°04'27"-W, 44.46 FEET; THENCE N-89°55'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 60.54 FEET; THENCE N-89°55'33"-E, 200.00 FEET; THENCE S-00°04'27"-E, 110.00 FEET; THENCE S-89"55'33"-W, 5.00 FEET; THENCE S-00°04'27"-E, 50.00 FEET; THENCE S-89°55'33"-W, 97.72 FEET; THENCE S-00"04'27"­ E, 380.00 FEET; THENCE N-89°55'33"-E, 992.72 FEET; THENCE N-00"04'27"-W, 85.00 FEET; THENCE N- 89"55'33"-E, 50.00 FEET; THENCE N-00°04'27"-W, 23.43 FEET; THENCE N-89°55'33"-E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) S-00°04'27"-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145.00 FEET; A CENTRAL ANGLE/DELTA  OF 91°36'40", A CHORD BEARING OF S-45°52'47"-E, A CHORD DISTANCE OF
207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF
WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18'53"-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27"49'07", A CHORD BEARING OF S-77°46'34" -E, A CHORD DISTANCE OF 36.06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) S-63°52'00"-E, 68.61 FEET; THENCE 4) S-00°16'21"-E, 60.00 FEET; THENCE S) S- 63052'00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, S-00"16'19"-E, 408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 114°32'03", A CHORD BEARING OF S-56°59'53"-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43'55"-W, 1831.08 FEET; THENCE N-65°19'34"-W, 460.35 FEET; THENCE ALONG A NON-RADIAL LINE, N-00°02'13"­ W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00"56'39" A CHORD BEARING OF N-75°36'08"-W, A CHORD DISTANCE OF 51.63 FEET; FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/-ACRES.

4

17
Exhibit C
LEGAL DESCRIPTION OF ASSESSMENT AREA TWO

Phase 2

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, AND THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF COUNTY ROAD NO. 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TO D E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN O.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: ALL THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND ALL THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 (OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), LYING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°02'56"W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.75 FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD RIGHT OF WAY; THENCE CONTINUE N00°02'56"W ALONG SAID WEST BOUNDARY,
FEET; THENCE S65°19'34"E, 515.47 FEET; THENCE S65°43'55"E, PARALLEL WITH, AND 30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF N56°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'00"E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION,  AND  THE  SOUTHERLY  PROJECTION  OF  THAT  WEST  BOUNDARY,  617.29  FEET  TO  ITS

9
INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65°43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE CONCAVED SOUTHWESTERLY, HAVING A RADIUS OF 2869.35 FEET, A CENTRAL ANGLE OF 09°40'02", A CHORD BEARING OF N70°34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS:
(REVISED 4/9/2020)

COMMENCE AT A 4”X4” CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13”-W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00°02'13”-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55’33”-E, 135.45 FEET; THENCE N-00°04’27”-W, 44.46 FEET; THENCE N-89°55’33”-E, 50.00 FEET; THENCE N-00°04’27”-W, 60.54 FEET; THENCE N-89°55’33”-E, 200.00 FEET; THENCE S-00°04’27”-E, 110.00 FEET; THENCE S-89°55’33”-W, 5.00 FEET; THENCE S-00°04’27”-E, 50.00 FEET; THENCE S-89°55’33”-W, 97.72 FEET; THENCE S-00°04’27”- E, 380.00 FEET; THENCE N-89°55’33”-E, 992.72 FEET; THENCE N-00°04’27”-W, 85.00 FEET; THENCE N- 89°55’33”-E, 50.00 FEET; THENCE N-00°04’27”-W, 23.43 FEET; THENCE N-89°55’33”-E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) S-00°04’27”-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145.00 FEET; A CENTRAL ANGLE/DELTA OF 91°36’40”, A CHORD BEARING OF S-45°52’47”-E, A CHORD DISTANCE OF 207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18’53”-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27°49’07”, A CHORD BEARING OF S-77°46’34”-E, A CHORD DISTANCE OF 36.06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) S-63°52’00”-E, 68.61 FEET; THENCE 4) S-00°16’21”-E, 60.00 FEET; THENCE 5) S-63°52’00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, S- 00°16’19”-E, 408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 114°32’03”, A CHORD BEARING OF S-56°59’53”-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43’55”-W, 1831.08 FEET; THENCE N-65°19’34”-W, 460.35 FEET; THENCE ALONG A NON- RADIAL LINE, N-00°02’13”-W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00°56’39” A CHORD BEARING OF N-75°36’08”-W, A CHORD DISTANCE OF 51.63 FEET, FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/- ACRES.

10
Exhibit D:
Maturities and Coupons of Assessment Area Two Bonds

11
Exhibit E:
Sources and Uses of Funds for Assessment Are One Bonds

12
Exhibit F: Annual Debt Service Payment Due on Assessment Area Two Bonds

13

14

SECTION A
This Instrument Prepared by	This space reserved for use by the and return to:		Clerk of the Circuit Court

Roy Van Wyk, Esq.
HOPPING GREEN & SAMS P.A.
Post Office Box 6526 Tallahassee, Florida 32314

HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT NOTICE OF LIEN OF SPECIAL ASSESSMENTS FOR
SPECIAL ASSESSMENT BONDS, SERIES 2021 (ASSESSMENT AREA TWO PROJECT)

PLEASE TAKE NOTICE that the Board of Supervisors of the Hammock Reserve Community Development District (the “District”) in accordance with Chapters 170, 190, and 197, Florida Statutes, adopted Resolutions 2020-25, 2020-26, 2020-29, and 2021-08 (together, 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 Assessment Area Two Project described in such Assessment Resolutions. Said assessments are pledged to secure the Hammock Reserve Community Development District Special Assessment Bonds, Series 2021 (Assessment Area Two Project) (“Assessment Area Two Bonds”). The legal description of the lands on which said special assessments are imposed is attached to this Notice (“Notice”), as Exhibit A. The special assessments are imposed on benefitted property within the District as described in the Master Assessment Methodology, dated December 17, 2019, as supplemented by that Supplemental Assessment Methodology (Phase Two), dated April 20, 2021 (together, the “Assessment Report”), approved by the District. A copy of the Assessment Report and the Assessment Resolutions may be obtained by contacting the District at: Hammock Reserve Community Development District, c/o Governmental Management Services – Central Florida, LLC, 219 East

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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 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 HAMMOCK RESERVE 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 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
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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.
IN WITNESS WHEREOF, this Notice has been executed and effective as of the 5th day of May, 2021, and recorded in the Official Records of Polk County, Florida.
HAMMOCK RESERVE COMMUNITY DEVELOPMENT DISTRICT

Warren K. (Rennie) Heath, II
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 May, 2021, by Warren K. (Rennie) Heath, II as Chairperson of the Board of Supervisors for the Hammock Reserve Community Development District.

(Official Notary Signature)
Name:  	
Personally Known  	
[notary seal]	OR Produced Identification  	
Type of Identification  	

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EXHIBIT A - LEGAL DESCRIPTION OF ASSESSMENT AREA TWO

Phase 2

THAT PART OF THE FOLLOWING:
TRACT #1: ALL OF THE REPLAT OF A PART OF GOLF GROUNDS ESTATES AND AGUA VISTA COUNTRY CLUB, HAINES CITY, FLORIDA, AS SHOWN BY MAP OR PLAT THEREOF RECORDED IN PLAT BOOK 41, PAGE 26, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, LESS AND EXCEPT THAT PART THEREOF AS SET FORTH IN FINAL JUDGMENT, CASE NO. 18404-31-542, FILED JUNE 27, 1968, RECORDED IN O.R. BOOK 1164, PAGE 498, PUBLIC RECORDS OF POLK COUNTY, FLORIDA AND LESS AND EXCEPT BEGINNING AT THE NORTHWEST (NW) CORNER OF THE NORTHWEST QUARTER (NW 1/4) OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, AND THEN RUN SOUTH EIGHTY-SEVEN (87) FEET MORE OR LESS TO THE EASTERLY BOUNDARY LINE OF THE RIGHT OF WAY OF COUNTY ROAD NO. 17, THEN RUN IN A EASTERLY DIRECTION A DISTANCE OF 872.50 FEET MORE OR LESS TO A POINT 118 FEET SOUTH OF THE SOUTH BOUNDARY LINE OF SECTION 18, TOWNSHIP 27 SOUTH, RANGE 27 EAST; THEN RUN NORTH 118 FEET TO THE SOUTH BOUNDARY LINE OF SAID SECTION 18, THEN RUN WEST ALONG THE SAID SOUTH BOUNDARY LINE A DISTANCE OF 871.95 FEET TO THE POINT OF BEGINNING.

ALSO LESS AND EXCEPT THAT PORTION CONVEYED TO D E RANCH, INC., A FLORIDA CORPORATION, BY DEED RECORDED IN O.R. BOOK 10268, PAGE 2011, PUBLIC RECORDS OF POLK COUNTY, FLORIDA.

TRACT #2: ALL THAT PART OF WEST HALF OF NE 1/4 OF NW 1/4 AND ALL THAT PART OF NE 1/4 OF NW 1/4 OF NW 1/4 (OR NE 1/4 OF UNITED STATES GOVERNMENT LOT 1), LYING NORTH OF THE ACL RAILROAD RIGHT OF WAY IN SECTION 30, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA.

LESS AND EXCEPT THAT PORTION OF TRACT #2 LYING WITHIN AND NORTH OF THE RIGHT OF WAY OF JOHNSON AVENUE WEST.

LESS AND EXCEPT THAT PORTION OF TRACTS #1 AND 2 CONVEYED BY DEED RECORDED IN O.R. BOOK 8278, PAGE 1958, PUBLIC RECORDS OF POLK COUNTY, FLORIDA, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

COMMENCE AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN N00°02'56"W, ALONG THE WEST BOUNDARY OF SAID SECTION 19, 280.75 FEET TO THE POINT OF BEGINNING, SAID POINT BEING ON THE NORTHERLY RIGHT OF WAY BOUNDARY OF THE CSX RAILROAD RIGHT OF WAY; THENCE CONTINUE N00°02'56"W ALONG SAID WEST BOUNDARY,
81.65 FEET; THENCE S65°19'34"E, 515.47 FEET; THENCE S65°43'55"E, PARALLEL WITH, AND 30 FEET NORTHERLY OF SAID RAILROAD RIGHT OF WAY, 1831.08 FEET TO THE BEGINNING OF A CURVE CONCAVED NORTHWESTERLY, HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE OF 114°32'24", A CHORD BEARING OF N56°59'53"E, AND A CHORD DISTANCE OF 126.18 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 149.93 FEET TO THE END OF SAID CURVE; THENCE N00°16'19"W, 408.82 FEET; THENCE N63°52'00"W, 33.49 FEET; THENCE N00°16'21"W, 60.00 FEET TO THE SOUTHERLY RIGHT OF WAY BOUNDARY OF JOHNSON AVENUE; THENCE S63°52'00"E, ALONG SAID RIGHT OF WAY BOUNDARY, 66.99 FEET; THENCE S00°16'19"E, ALONG THE WEST BOUNDARY OF LAKE HESTER ESTATES SUBDIVISION, AND THE SOUTHERLY PROJECTION OF THAT WEST BOUNDARY, 617.29 FEET TO ITS INTERSECTION WITH THE AFOREMENTIONED NORTHERLY RIGHT OF WAY OF THE CSX RAILROAD; THENCE N65°43'55"W ALONG SAID RIGHT OF WAY, 1994.45 FEET TO THE BEGINNING OF A CURVE

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CONCAVED SOUTHWESTERLY, HAVING A RADIUS OF 2869.35 FEET, A CENTRAL ANGLE OF 09°40'02", A CHORD BEARING OF N70°34'01"W, AND A CHORD DISTANCE OF 483.55 FEET; THENCE ALONG SAID CURVE, AN ARC DISTANCE OF 484.13 FEET TO THE POINT OF BEGINNING.

BEING DESCRIBED AS:
(REVISED 4/9/2020)

COMMENCE AT A 4”X4” CONCRETE MONUMENT WITH NO IDENTIFICATION STANDING AT THE SOUTHWEST CORNER OF SECTION 19, TOWNSHIP 27 SOUTH, RANGE 27 EAST, POLK COUNTY, FLORIDA AND RUN THENCE ALONG THE WEST BOUNDARY OF SAID SECTION 19, N-00°02'13”-W, 425.20 FEET TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID WEST BOUNDARY, AND CONTINUING N- 00°02'13”-W, 900.20 FEET; THENCE DEPARTING SAID WEST BOUNDARY, N-89°55’33”-E, 135.45 FEET; THENCE N-00°04’27”-W, 44.46 FEET; THENCE N-89°55’33”-E, 50.00 FEET; THENCE N-00°04’27”-W, 60.54 FEET; THENCE N-89°55’33”-E, 200.00 FEET; THENCE S-00°04’27”-E, 110.00 FEET; THENCE S-89°55’33”-W, 5.00 FEET; THENCE S-00°04’27”-E, 50.00 FEET; THENCE S-89°55’33”-W, 97.72 FEET; THENCE S-00°04’27”- E, 380.00 FEET; THENCE N-89°55’33”-E, 992.72 FEET; THENCE N-00°04’27”-W, 85.00 FEET; THENCE N- 89°55’33”-E, 50.00 FEET; THENCE N-00°04’27”-W, 23.43 FEET; THENCE N-89°55’33”-E, 145.00 FEET TO A POINT ON THE WESTERLY RIGHT-OF-WAY OF PRADO GRANDE ROAD; THENCE ALONG SAID WESTERLY RIGHT-OF-WAY THE FOLLOWING TWO (2) COURSES: 1) S-00°04’27”-E, 885.74 FEET TO A POINT OF CURVE CONCAVE EAST; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 145.00 FEET; A CENTRAL ANGLE/DELTA OF 91°36’40”, A CHORD BEARING OF S-45°52’47”-E, A CHORD DISTANCE OF 207.92 FEET, FOR AN ARC LENGTH OF 231.84 FEET TO A POINT ON THE SOUTHERLY RIGHT-OF-WAY OF WEST JOHNSON AVENUE; THENCE ALONG SAID SOUTHERLY RIGHT OF THE WAY THE FOLLOWING FIVE (5) COURSES: 1) N-88°18’53”-E, 493.84 FEET TO A POINT OF CURVE CONCAVE SOUTH; THENCE 2) SOUTHEASTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 27°49’07”, A CHORD BEARING OF S-77°46’34”-E, A CHORD DISTANCE OF 36.06 FEET, FOR AN ARC LENGTH OF 36.41 FEET; THENCE 3) S-63°52’00”-E, 68.61 FEET; THENCE 4) S-00°16’21”-E, 60.00 FEET; THENCE 5) S-63°52’00;-E, 33.49 FEET; THENCE DEPARTING SAID SOUTHERLY RIGHT-OF-WAY, S- 00°16’19”-E, 408.82 FEET TO A POINT OF CURVE CONCAVE WEST; THENCE SOUTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 75.00 FEET, A CENTRAL ANGLE/DELTA OF 114°32’03”, A CHORD BEARING OF S-56°59’53”-W, A CHORD DISTANCE OF 126.18 FEET, FOR AN ARC LENGTH OF 149.92 FEET; THENCE N-65°43’55”-W, 1831.08 FEET; THENCE N-65°19’34”-W, 460.35 FEET; THENCE ALONG A NON- RADIAL LINE, N-00°02’13”-W, 72.98 FEET TO A POINT ON CURVE CONCAVE SOUTHWESTERLY; THENCE NORTHWESTERLY ALONG SAID CURVE HAVING A RADIUS OF 3133.46 FEET, A CENTRAL ANGLE/DELTA OF 00°56’39” A CHORD BEARING OF N-75°36’08”-W, A CHORD DISTANCE OF 51.63 FEET, FOR AN ARC LENGTH OF 51.63 FEET TO THE POINT OF BEGINNING.

CONTAINING 41.04 +/- ACRES.

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SECTION VII

SECT1·0	-C

S ECTION 1
Hammock Reserve
Community Development District
Summary of Checks

March 31, 2021 to April 28, 2021

Bank	Date	Check No.'s	Amount	

General Fund	
4/5/21	
85	
$	529.55	
	4/9/21	86	$	4,388.80	
	4/23/21	87-90	$	90,595.50	
			$	95,513.85	
			$	95,513.85	

SECTION 2

Hammock Reserve
Community Development District

Unaudited Financial Reporting
March 31, 2021

Table of Contents

1	 	Balance Sheet	

2-3	
 	General Fund 	

4	
 	Debt Service Fund 	

5	
 	Capital Project Fund 	

6	
 	Month to Month	

7	
 	Long Term Debt Report	
Hammock Reserve
Community Development District Combined Balance Sheet
March 31, 2021

	General	Debt Service	Capital Projects	Totals
Fund	Fund	Fund	Governmental Funds				

Assets:					
Cash:
Operating Account	
$	13,414	$	-	$	-	$	13,414				
Series 2020:					
Reserve	$	-	$	308,000	$	-	$	308,000				
Revenue	$	-	$	2	$	-	$	2				
Interest	$	-	$	107,510	$	-	$	107,510				
Construction	$	-	$	-	$	58,953	$	58,953				
Cost of Issuance	$	-	$	-	$	0	$	0				
Total Assets	$	13,414	$	415,512	$	58,953	$	487,879				

Liabilities:					
Accounts Payable	$	5,349	$	-	$	-	$	5,349				
Total Liabilities	$	5,349	$	-	$	-	$	5,349				

Fund Balances:					
Assigned for Debt Service	$	-	$	415,512	$	-	$	415,512				
Assigned for Capital Projects	$	-	$	-	$	58,953	$	58,953				
Unassigned	$	8,065	$	-	$	-	$	8,065				
Total Fund Balances	$	8,065	$	415,512	$	58,953	$	482,530	
					
Total Liabilities & Fund Balance	$	13,414	$	415,512	$	58,953	$	487,879	

1
Hammock Reserve
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending March 31, 2021

Adopted	Prorated Budget	Actual		
Budget	Thru 03/31/21	Thru 03/31/21	Variance	

Revenues:					
Developer Contributions	$	165,127	$	60,000	$	60,000	$	-	
Total Revenues	$	165,127	$	60,000	$	60,000	$	-	

Expenditures:					
General & Administrative:					

Supervisor Fees	
$	12,000	
$	6,000	
$	4,400	
$	1,600	
Engineering	$	15,000	$	7,500	$	-	$	7,500	
Attorney	$	25,000	$	12,500	$	7,089	$	5,411	
Annual Audit	$	3,000	$	1,000	$	1,000	$	-	
Assessment Administration	$	5,000	$	-	$	-	$	-	
Arbitrage	$	650	$	-	$	-	$	-	
Dissemination	$	5,000	$	2,500	$	1,667	$	833	
Trustee Fees	$	3,550	$	-	$	-	$	-	
Management Fees	$	35,000	$	17,500	$	17,500	$	(0)	
Information Technology	$	2,350	$	1,175	$	600	$	575	
Telephone	$	300	$	150	$	-	$	150	
Postage & Delivery	$	1,000	$	500	$	39	$	461	
Insurance	$	5,000	$	5,000	$	5,000	$	-	
Printing & Binding	$	1,000	$	500	$	33	$	467	
Legal Advertising	$	10,000	$	5,000	$	3,931	$	1,070	
Other Current Charges	$	5,000	$	2,500	$	765	$	1,735	
Boundary Amendment Expenses	$	-	$	-	$	14,146	$	(14,146)	
Office Supplies	$	625	$	313	$	13	$	300	
Travel Per Diem	$	660	$	330	$	-	$	330	
Dues, Licenses & Subscriptions	$	175	$	175	$	175	$	-	
Total General & Administrative:	$	130,310	$	62,643	$	56,357	$	6,286	

2
Hammock Reserve
Community Development District General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending March 31, 2021

Adopted	Prorated Budget	Actual		
Budget	Thru 03/31/21	Thru 03/31/21	Variance	

Operation and Maintenance

Field Expenses					
Property Insurance	$	5,000	$	-	$	-	$	-	
Field Management	$	6,250	$	-	$	-	$	-	
Landscape Maintenance	$	11,650	$	-	$	-	$	-	
Landscape Replacement	$	1,042	$	-	$	-	$	-	
Streetlights	$	5,250	$	-	$	-	$	-	
Electric	$	833	$	-	$	-	$	-	
Water & Sewer	$	417	$	-	$	-	$	-	
Sidewalk & Asphalt Maintenance	$	208	$	-	$	-	$	-	
Irrigation Repairs	$	1,042	$	-	$	-	$	-	
General Repairs & Maintenance	$	2,083	$	-	$	-	$	-	
Contingency	$	1,042	$	-	$	-	$	-	
		$	-			
Total O&M Expenses:	$	34,817	$	-	$	-	$	-	
					
Total Expenditures	$	165,127	$	62,643	$	56,357	$	6,286	
					
Excess Revenues (Expenditures)	$	-		$	3,643	$	(6,286)	
					
Fund Balance - Beginning	$	-		$	4,422		
					
Fund Balance - Ending	$	-		$	8,065		

3
Hammock Reserve
Community Development District Debt Service Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending March 31, 2021

Adopted	Prorated Budget	Actual		
Budget	Thru 03/31/21	Thru 03/31/21	Variance	

Revenues:			
Interest Income	$	-	$	-	$	9	$	9	
Total Revenues	$	-	$	-	$	9	$	9	

Expenditures:			

Interest Expense - 11/1	
$	-	$	-	$	-	
$	-	
Principal Expense - 5/1	$	-	$	-	$	-	$	-	
Interest Expense - 5/1	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Other Financing Sources/(Uses)			
Bond Proceeds	$	-	$	-	$	415,510	$	415,510	
Transfer In/(Out)	$	-	$	-	$	(7)	$	(7)	
Total Other Financing Sources/(Uses)	$	-	$	-	$	415,504	$	415,504	
			
Excess Revenues (Expenditures)	$	-	$	415,512		
			
Fund Balance - Beginning	$	-	$	-		
			
Fund Balance - Ending	$	-	$	415,512		

4
Hammock Reserve
Community Development District Capital Projects Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
For The Period Ending March 31, 2021

Adopted	Prorated Budget	Actual		
Budget	Thru 03/31/21	Thru 03/31/21	Variance	

Revenues:			
Interest Income	$	-	$	-	$	64	$	64	
Total Revenues	$	-	$	-	$	64	$	64	

Expenditures:			

Capital Outlay	
$	-	$	-	$	4,332,373	
$	(4,332,373)	
Capital Outlay - Cost Of Issuance	$	-	$	-	$	290,275	$	(290,275)	
Total Expenditures	$	-	$	-	$	4,622,648	$	(4,622,648)	

Other Financing Sources/(Uses)			
Bond Proceeds	$	-	$	-	$	4,964,490	$	4,964,490	
Bond Premium	$	-	$	-	$	24,924	$	24,924	
Transfer In/(Out)	$	-	$	-	$	7	$	7	
Total Other Financing Sources/(Uses)	$	-	$	-	$	4,989,420	$	4,989,420	
			
Excess Revenues (Expenditures)	$	-	$	366,836		
			
Fund Balance - Beginning	$	-	$	(307,883)		
			
Fund Balance - Ending	$	-	$	58,953		

5
Hammock Reserve
Community Development District Month to Month

	Oct	Nov	Dec	Jan	Feb		March	April	May	June	July	Aug	Sept	Total	

Revenues:															
Developer Contributions	$	20,000	$	-	$	20,000	$	-	$	20,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	60,000	
Total Revenues	$	20,000	$	-	$	20,000	$	-	$	20,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	60,000	

Expenditures:															
General & Administrative:															
Supervisor Fees	$	1,000	$	600	$	1,000	$	800	$	-	$	1,000	$	-	$	-	$	-	$	-	$	-	$	-	$	4,400	
Engineering	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Attorney	$	2,600	$	1,461	$	1,217	$	1,283	$	530	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,089	
Annual Audit	$	-	$	-	$	-	$	-	$	-	$	1,000	$	-	$	-	$	-	$	-	$	-	$	-	$	1,000	
Assessment Administration	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Arbitrage	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Dissemination	$	-	$	-	$	417	$	417	$	417	$	417	$	-	$	-	$	-	$	-	$	-	$	-	$	1,667	
Trustee Fees	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Management Fees	$	2,917	$	2,917	$	2,917	$	2,917	$	2,917	$	2,917	$	-	$	-	$	-	$	-	$	-	$	-	$	17,500	
Information Technology	$	100	$	100	$	100	$	100	$	100	$	100	$	-	$	-	$	-	$	-	$	-	$	-	$	600	
Telephone	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Postage & Delivery	$	4	$	3	$	1	$	25	$	-	$	7	$	-	$	-	$	-	$	-	$	-	$	-	$	39	
Insurance	$	5,000	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	5,000	
Printing & Binding	$	11	$	13	$	4	$	2	$	4	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	33	
Legal Advertising	$	510	$	431	$	1,282	$	1,278	$	-	$	431	$	-	$	-	$	-	$	-	$	-	$	-	$	3,931	
Other Current Charges	$	-	$	265	$	126	$	127	$	121	$	126	$	-	$	-	$	-	$	-	$	-	$	-	$	765	
Boundary Amendment Expenses	$	-	$	5,178	$	1,848	$	2,732	$	-	$	4,389	$	-	$	-	$	-	$	-	$	-	$	-	$	14,146	
Office Supplies	$	3	$	3	$	3	$	2	$	3	$	0	$	-	$	-	$	-	$	-	$	-	$	-	$	13	
Travel Per Diem	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Dues, Licenses & Subscriptions	$	175	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	175	
Total General & Administrative:	$	12,319	$	10,969	$	8,913	$	9,680	$	4,090	$	10,387	$	-	$	-	$	-	$	-	$	-	$	-	$	56,357	

Operation and Maintenance															
Field Expenses
Property Insurance	

$	-	

$	-	

$	-	

$	-	

$	-	

$	

-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	

$	-	
Field Management	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Landscape Replacement	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Streetlights	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Electric	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Water & Sewer	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Contingency	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Total O&M Expenses:	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
															
Total Expenditures	$	12,319	$	10,969	$	8,913	$	9,680	$	4,090	$	10,387	$	-	$	-	$	-	$	-	$	-	$	-	$	56,357	
															
Excess Revenues (Expenditures)	$	7,681	$	(10,969)	$	11,087	$	(9,680)	$	15,910	$	(10,387)	$	-	$	-	$	-	$	-	$	-	$	-	$	3,643	
						6									
Hammock Reserve
Community Development District Long Term Debt Report

SERIES 2020, SPECIAL ASSESSMENT REVENUE BONDS		
INTEREST RATE:	2.625%, 3.250%, 4.000%	
MATURITY DATE:	5/1/2051	
RESERVE FUND DEFINITION	MAXIMUM ANNUAL DEBT SERVICE	
RESERVE FUND REQUIREMENT	$308,000	
RESERVE FUND BALANCE	$308,000	
BONDS OUTSTANDING - 10/22/20	$5,380,000	
CURRENT BONDS OUTSTANDING	$5,380,000	

7

SECTION 3
Requisition	Payee/Vendor	Amount	
43	Wood & Associates Engineering, Inc.	$	3,900.00	
44	Horner Environmental Professionals, Inc.	$	690.00	
45	Wood & Associates Engineering, Inc.	$	19,575.00	
46	VOIDED	$	-	
47	JMBI Real Estate	$	3,000.00	
48	Wood & Associates Engineering, Inc.	$	6,405.00	
	TOTAL	$	33,570.00