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Home My WebLink AboutOrdinance No. 2026-21 • ORDINANCE NO. 2026-21 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD, TEXAS, APPROVING THE 2026 ANNUAL UPDATE TO THE SERVICE AND ASSESSMENT PLAN AND ASSESSMENT ROLL FOR THE FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT, INCLUDING THE COLLECTION OF THE 2026 ANNUAL INSTALLMENTS; REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES INCONSISTENT OR IN CONFLICT HEREWITH; PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE THEREOF. ****************************************************************************** WHEREAS, the City of Friendswood, Texas (the "City") received a petition meeting the requirements of Section 372.005 of the Public Improvement District Assessment Act(the "Act") requesting the creation of a public improvement district over a portion of the area within the corporate limits of the City to be known as the Friendswood City Center Public Improvement District(the "District");and WHEREAS, the petition contained the signatures of the owners of taxable property representing more than fifty percent of the appraised value of taxable real property liable for assessment within the boundaries of the proposed District, as determined by the then current ad valorem tax rolls of the Harris County Appraisal District and the signatures of property owners who own taxable real property that constitutes more than fifty percent of the area of all taxable property that is liable for assessment by the City; and WHEREAS, on November 6, 2023, the City Council approved a resolution (the "Resolution")to provide for a public hearing date of December 4, 2023, to consider the creation of the District; and WHEREAS, notice of the hearing was published in a newspaper of general circulation in the City in which the District is to be located, in accordance with the Act;and WHEREAS,notice to the owners of property within the proposed District was sent by first- class mail to the owners of 100%of the property subject to assessment under the proposed District containing the information required by the Act such that the owners had actual knowledge of the public hearing to be held on December 4,2023; and WHEREAS, the City Council approved the creation of the District by resolution on January 8,2024 (the "Creation Resolution")and filed the Creation Resolution in the real property records of Harris County,as authorized by the Act; and WHEREAS, pursuant to Sections 372.013, 372.014, and 372.016 of the Act, the City Council directed the preparation of a Preliminary Service and Assessment Plan for Authorized Improvements within the District(the "Service and Assessment Plan")and an assessment roll for the District (the "Assessment Roll") that states the assessment against each parcel of land within the District(the "Assessments"); and WHEREAS, the City called a public hearing regarding the proposed levy of Assessments pursuant to the Service and Assessment Plan and the proposed Assessment Roll on property within the District, pursuant to Section 372.016 of the Act; and WHEREAS, the City, pursuant to Section 372.016(b) of the Act, published notice in a newspaper of general circulation within the City to consider the proposed Service and Assessment Plan for the District and the levy of the Assessments, as defined in the Service and Assessment Plan,on property in the District; and WHEREAS, the City Council, pursuant to Section 372.016(c) of the Act, caused the mailing of notice of the public hearing to consider the proposed Service and Assessment Plan and the Assessment Roll attached to the Service and Assessment Plan and the levy of Assessments on property in the District to the last-known address of the owners of the property liable for the Assessments; and WHEREAS,the City Council convened the public hearing at its regular meeting on the 4th day of November, 2024, at which all persons who appeared, or requested to appear, in person or by their attorney,were given the opportunity to contend for or contest the Service and Assessment Plan,the Assessment Roll, and the proposed Assessments, and to offer testimony pertinent to any issue presented on the amount of the Assessments, the allocation of the costs of the Authorized Improvements, the purposes of the Assessments, the special benefits of the Assessments, and the penalties and interest on annual installments and on delinquent annual installments of the Assessments;and WHEREAS, the CityCouncil approved an ordinance levying Assessments o n property PP Y g P P ttY within the District on November 4,2024;and WHEREAS,pursuant to the Act, the Service and Assessment Plan and Assessment Roll is required to be reviewed and updated annually as described in Sections 372.013 and 372.014 of the PID Act; and WHEREAS,the Service and Assessment Plan and Assessment Roll was last reviewed and updated on August 4,2025,via Ordinance No. 2025-25;and WHEREAS, the City Council has directed that an update to the Service and Assessment Plan and the Assessment Roll for the District be prepared for 2026(together,the"2026 Updates"); and WHEREAS, the City Council now desires to proceed with the adoption of this ordinance approving the 2026 Updates attached thereto, in conformity with the requirements of the PID Act; and WHEREAS,the City Council finds the passage of this ordinance to be in the best interest of the citizens of Friendswood,Texas;NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD, STATE OF TEXAS: Section 1. That all matters stated in the preamble are found to be true and correct and are incorporated herein as if copied in their entirety. Section 2. That the 2026 Updates, which are attached hereto as Exhibit "A" and incorporated herein for all intents and purposes,are hereby approved and accepted as provided. 2 Section 3. If any portion of this ordinance shall,for any reason,be declared invalid by any court of competent jurisdiction, such invalidity shall not affect the remaining provisions hereof; and the Council hereby determines that it would have adopted this ordinance without the invalid provision. Section 4. That this ordinance shall be cumulative of all other City ordinances;and all other provisions of other ordinances adopted by the City which are inconsistent with the terms or provisions of this ordinance are hereby repealed. Section 5. It is hereby declared to be the intention of the City Council of the City of Friendswood,Texas,that sections,paragraphs,clauses and phrases of this ordinance are severable; and if any phrase,clause, sentence,paragraph or section of this ordinance shall be declared legally invalid or unconstitutional by the valid judgment or decree of any court of competent jurisdiction, such legal invalidity or unconstitutionality shall not affect any of the remaining phrases, clauses, sentences,paragraphs or sections of this ordinance since the same would have been enacted by the City Council of the City of Friendswood without the incorporation in this ordinance of any such legally invalid or unconstitutional, phrase, sentence,paragraph or section. Section 6. That the City Secretary is hereby directed to file a copy of this ordinance and the 2026 Updates in the real property records of Harris County,Texas not later than the seventh (7th)day after the date the City Council adopts this ordinance approving the 2026 Update;and Section 7. The City Secretary is directed to post a copy of 2026 Update, including a copy of the notice form required by Section 5.014 of the Texas Property Code,as amended,on the internet website maintained or used by the City for the purposes of Section 26.18,Texas Tax Code, as amended, not later than the seventh (7th) day after the date the City Council adopts the 2026 Update. Section 8. The City Secretary is directed to cause a copy of the 2026 Update,including the Assessment Roll, in the format required by Section 372.017(b)of the PID Act,to be submitted to the Galveston Central Appraisal District not later than the seventh (7th) day after the date the City Council adopts this ordinance approving the 2026 Update. Section 9. This ordinance shall take effect from and after its passage on second reading by the City Council of the City of Friendswood, Texas. [Signature pages to follow] 3 INTRODUCED, READ,AND PASSED on first reading by the affirmative vote of the City Council of the City of Friendswood this 6`" day of July, 2026. I �I K 'OREM • N, Mayor ATTEST: RAQ ELM RTINEZ, City Secre OF RIENpS, APPROVED AS TO FORM: f �', co 00F1°.. KAREN L. HORNER, City Attorney STATE OF TEXAS § COUNTY OF GALV ESTON§ Before me, the undersigned authority, on this day personally appeared Mike Foreman, the Mayor of the City of Friendswood, known to me to be such person who signed the above and acknowledged to me that such person executed the above and foregoing ordinance in my presence for the purposes stated therein. Given under my hand and seal of office this 6th day of July, 2026. L.c2_. ALL9se O,PNV P`B(i LINDA NEWSTED , [N• hbt;'hp #13429499-4 r Public, State of Texas y My Commission Expires April 9, 2027 4 INTRODUCED, READ, AND PASSED on second and final reading by the affirmative vote of the City Council of the City of Friendswood this 3rd day of August, 2026. l /iLAlL41 MIKE FO EMA , Mayor ATTEST: �Q ' , u / II l ' OFFRIs (9 RAQU:L ' RTINEZ, City Secreta, ",:' ,FJs '.i;. p * ' * APPROVED AS TO FORM: (P) Po 9T OF. ` ,�. ,......:, - , 00 KAREN L. HORNER, City Attorney STATE OF TEXAS § § COUNTY OF GALVESTON§ Before me, the undersigned authority, on this day personally appeared Mike Foreman, the Mayor of the City of Friendswood, known to me to be such person who signed the above and acknowledged to me that such person executed the above and foregoing ordinance in my presence for the purposes stated therein. Given under my hand and seal of office this the 3rd day of August, 2026. 1 ' / ' ia-14_, v I „,,. 4 I 1 [NOTARY STAMP] 1 ary ''ublic, State or,Texas ^Y^. LINDA NEWSTED (,,,..D.;°. Notary ID #13429499-4 My Commission Expires April 9. 2027 H:\City Council\Ordinances\2026\07-06-2026\Ordinance-Approving 2026 SAP Update Friendswood City Center PID.doc 5 EXHIBIT "A" i t . • KS FRIENDSWOOD CITY CENTER 2026 ANNUAL SERVICE PLAN UPDATE JULY 6, 2026 INTRODUCTION Capitalized terms used in this 2026 Annual Service Plan Update shall have the meanings set forth in the 2024 Service and Assessment Plan (the "SAP"). The District was created pursuant to the PID Act by Resolution No. 2024-01 on January 8, 2024 by the City Council to finance certain Authorized Improvements for the benefit of the property in the District. On November 4,2024,the City approved the SAP for the District by adopting Ordinance No.2024- 37 which approved the levy of Assessments for Assessed Property within the District and approved the Assessment Roll. On September 8, 2025, the City approved 2025 Annual Service Plan Update for the District by adopting Ordinance No. 2025-25 which updated each Assessment Roll within the District for 2025. The SAP identified the Authorized Improvements to be constructed for the benefit of the Assessed Parcels within the District,the costs of the Authorized Improvements,the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the District for the costs of the Authorized Improvements. Pursuant to the PID Act,the SAP must be reviewed and updated annually. This document is the Annual Service Plan Update for 2026. The City Council also adopted an Assessment Roll identifying the Assessments on each Lot within the District, based on the method of assessment identified in the SAP. This 2026 Annual Service Plan Update also updates the Assessment Roll for 2026. FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 1 2026 ANNUAL SERVICE PLAN UPDATE PARCEL SUBDIVISION The final plat of Friendswood City Center was filed and recorded with the County as document number RP-2025-317434 on August 12, 2025. See Exhibit C for the Lot Type classification map. LOT AND HOME SALES Current ownership within the District is based on information provided by the Developer and available information and is subject to change as development occurs and property is conveyed. Updated ownership and development information for Assessments securing PID Bonds may be available through continuing disclosure filings accessible via the MSRB's EMMA by searching for the District. For Assessments securing reimbursement obligations to the Developer,the summary of current ownership within the property securing such Assessment is based on information provided by the Developer and other publicly available records. See Exhibit D for buyer disclosures. AUTHORIZED IMPROVEMENTS A summary of the Authorized Improvements, including the original estimated costs of the Authorized Improvements and allocation of such costs, is provided in the SAP. The Authorized Improvements and estimated costs as described in the SAP are for Assessment purposes and do not represent a guarantee of construction timing or Actual Costs. Information regarding the status of Authorized Improvements, including construction progress, estimated completion timing, and budget information, including any updates to the original estimates of costs, is based on information provided by the Developer and other available project information at the time such information is compiled. Such information may be updated from time to time. OUTSTANDING ASSESSMENT The Initial Major Improvement Assessments has an outstanding Assessment of$36,907,000.00. The Additional Major Improvement Assessments has an outstanding Assessment of $17,746,000.00. Information for Assessments securing PID Bonds may be available through continuing disclosure filings accessible via EMMA website by searching for the District. A debt service schedule is FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 2 2026 ANNUAL SERVICE PLAN UPDATE attached as Exhibit B-1 and a schedule for the reimbursement obligation is attached as Exhibit B-2. TIRZ ANNUAL CREDIT The TIRZ No. 1 Annual Credit Amount shall only be applied as further described in the SAP. TIRZ No. 1 Maximum Annual Credit Lot Type Units/Sq. Ft. Amount Lot Type 1 76,408 $ 2.08 Lot Type 2 268,800 $ 1.73 Lot Type 3 115 $ 782.44 Lot Type 4 194,050 $ 1.46 Lot Type 5 750,000 $ 2.35 The TIRZ No. 1 Annual Credit Amount by Parcel is included in the Assessment Rolls attached hereto as Exhibit A-1. ANNUAL INSTALLMENT DUE 1/31/2026 • Principal and Interest — The total principal and interest required for the Annual Installment is shown below o TIRZ Credit - The total principal and interest credit from the TIRZ No. 1 Fund for the Annual Installment is calculated on a per lot basis as shown in the Assessment Roll. • Additional Interest Reserve — Additional Interest is collected and deposited into an account of the Reserve Fund.The Additional Interest is calculated in accordance with the governing documents, resulting in t Annual Installment as shown below. District Due January 31,2027 Principal 694,000.00 Interest 3,825,710.00 Capitalized Interest - Additional Interest 184,535.00 Annual Collection Costs 75,763.00 Less ACC Credit (55,166.95) Total Annual Installment $ 4,724,841.05 FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 3 2026 ANNUAL SERVICE PLAN UPDATE ■ Annual Collection Costs—The cost of administering the District shall be paid for on a pro rata basis by each Parcel based on the amount of outstanding Assessment remaining on the Parcel. The total Annual Collection Costs budgeted for the Annual Installment is shown below. Initial Major Improvements Annual Collection Costs Breakdown Administration $ 31,616.05 City Auditor $ 675.30 Filing Fees $ 675.30 County Collection $ 675.30 PID Trustee Fees $ 4,500.00 Draw Request Review $ 11,500.00 P3 Works Dev/Issuer CDA Review $ 4,025.00 Past Due P3Works, LLC Invoices $ - Collection Cost Maintenance Balance $ 10,000.00 Less CCMB Credit from Prior Years $ (10,000.00) Arbitrage Calculation $ 1,500.00 Total Annual Collection Costs $ 55,166.95 Additional Major Improvements Annual Collection Costs Breakdown Administration $ 15,201.95 City Auditor $ 324.70 Filing Fees $ 324.70 County Collection $ 324.70 PID Trustee Fees $ - Draw Request Review $ 3,910.00 P3 Works Dev/Issuer CDA Review $ - Past Due P3Works, LLC Invoices $ 510.00 Collection Cost Maintenance Balance $ - Less CCMB Credit from Prior Years $ - Arbitrage Calculation $ - Total Annual Collection Costs $ 20,596.05 ■ Credit$55,166.95 Annual Collection Costs initially funded at bond closing will be applied in accordance with the terms of the SAP, reducing the total Annual Installment by $55,166.95. FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 4 2026 ANNUAL SERVICE PLAN UPDATE PREPAYMENT OF ASSESSMENTS Information regarding any full or partial Prepayments of the Assessments are reflected in the corresponding Assessment Roll. SERVICE PLAN — FIVE YEAR BUDGET FORECAST The PID Act requires the annual indebtedness and projected costs for the Authorized Improvements to be reviewed and updated in the Annual Service Plan Update,and the projection shall cover a period of not less than five years. District Annual Installments Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031 Initial Major improvement Bonds Principal $ 468,000.00 $ 499,000.00 $ 533,000.00 $ 570,000.00 $ 609,000.00 Interestt'1 $ 2,583,490.00 $ 2,550,730.00 $ 2,515,800.00 $ 2,478,490.00 $ 2,438,590.00 Capitalized Interest $ - $ - $ - $ - $ - (1) $ 3,051,490.00 $ 3,049,730.00 $ 3,048,800.00 $ 3,048,490.00 $ 3,047,590.00 Additionallnterest1O1 (2) $ 184,535.00 $ 182,195.00 $ 179,700.00 $ 177,035.00 $ 174,185.00 Annual Collection Costsl'1 (3) $ 55,166.95 $ 54,740.29 $ 55,835.09 $ 56,951.80 $ 58,090.83 Annual Collection Costs Creditt'1 (4) $ (55,166.95) $ (54,740.29) $ (55,835.09) $ (56,951.80) $ - Total Annual Installment Due (5)=(1)+(2)+(3)+(4) $ 3,236,025.00 $3,231,925.00 $3,228,500.00 $3,225,525.00 $3,279,865.83 Additional Major Improvements Reimbursement Obligation Principal $ 226,000.00 $ 244,000.00 $ 260,000.00 $ 277,000.00 $ 295,000.00 Interestt°I $ 1,242,220.00 $ 1,226,400.00 $ 1,209,320.00 $ 1,191,120.00 $ 1,171,730.00 (5) $ 1,468,220.00 $ 1,470,400.00 $ 1,469,320.00 $ 1,468,120.00 $ 1,466,730.00 AdditionalInterestl'1 (6) $ - $ - $ - $ - $ - Annual Collection Costst'1 (7) $ 20,596.05 $ 20,487.77 $ 20,897.53 $ 21,315.48 $ 21,741.79 Total Annual Installment Due (8)=(5)+(6)+(7) $ 1,488,816.05 $1,490,887.77 $ 1,490,217.53 $1,489,435.48 $ 1,488,471.79 [a]Calculated at the rate on the Series 2024 Bonds plus Additional Interest. [b]Additional Interest shall be collected on the Initial Major Improvement Bonds when the Delinquency and Prepayment Reserve Account is below 2.5%of outstanding bond par. (c)The Annual Collection Costs were initially funded at bond closing and while levied the Annual Collection Costs component of the Initial Major Improvement Assessment will not be collected in the early years but the City will resume collection of the Annual Collection Costs once the Administrative Fund balance is reduced to$20,000. [d] Interest on the Reimbursement Obligation is calculated at a rate of 7.00%which is less than 2%above the highest average rate of the S&P Municipal High Yield Index which was 5.50%for October 2024,as required by the PID Act.If PID Bonds are issued,the interest rate on the Assessment will adjust to the interest rate on the Bonds plus the Additional Interest. (e)Additional Interest will be collected if Additional Major Improvement Bonds are issued. ASSESSMENT ROLL The list of current Parcels or Lots within the District, the corresponding total Assessments, and current Annual Installment are shown on the Assessment Rolls attached hereto as Exhibit A-1 and Exhibit A-2. The Annual Installment due on each Parcel or Lot may be updated to reflect prepayments and/or redemptions paid prior to the Annual Installment being billed to the owner FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT S 2026 ANNUAL SERVICE PLAN UPDATE of the Parcel or Lot. The Parcels or Lots of Assessed Property shown on the corresponding Assessment Roll will receive the bills for the 2026 Annual Installments which will be delinquent if not paid by January 31, 2027. The Parcel IDs shown within an Assessment Roll are subject to change based on the final certified rolls provided by the County prior to billing. ADDITIONAL INFORMATION If the owner of a Parcel claims that an error has been made in any Assessment Roll required by the Levying SAP, a prior Annual Service Plan Update, or this 2026 Annual Service Plan Update, the owner's sole and exclusive remedy shall be to submit a written notice of error to the Administrator (at admin@p3-works.com) by December 1st of the year in connection with the approval of such year's Annual Service Plan Update. Otherwise, the owner shall be deemed to have unconditionally approved and accepted the Annual Service Plan Update. The Administrator shall provide a written response to the City Council and the owner not later than 30 days after receipt of such written notice of error by the Administrator. The City Council shall consider the owner's notice of error and the Administrator's response at a public meeting, and, not later than 30 days after closing such meeting, the City Council shall make a final determination as to whether an error has been made. 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Y d > .$ _E Nu-VxYgg § jmm>> m 3l dcB LLN uz z Qavig4t oa m $ °lco e :Act u < cE E 5 a E mo m m �_9t o o u ` � q $ 0 E E o g E l u i o n o 6- - c'"om ,, nd 3E 'cc `o N g,g g r g 0 o E-o i m f m m m m o m m o o m o m m R Il i s-P 1 �QQ5�j45��pQ5r r � �rrrrr� E f � 4 3t- :S S 5 pp m m c c 11611 3 .` q o m m o 0 0 n 0 0 0 0 n n 0 o E e S£ 0 0 G z,,. r r m mr r'4 P F F f F r r r q u u J D i+H EXHIBIT B-1- DEBT SERVICE SCHEDULE DEBT SERVICE REQUIREMENTS The following table sets forth the debt service requirements for the Bonds: Year Ending (September 30) Principal Interest Total 2025 - S2.066.792.00 $2.066.792.00 2026 - 2.583.490.00 2.583.490.00 2027 $468.000.00 2.583.490.00 3.051.490.00 2028 499.000.00 2.550.730.00 3.049.730.00 2029 533.000.00 2.515.800.00 3.048.800.00 2030 570.000.00 2.478.490.00 3.048.490.00 2031 609.000.00 2.438.590.00 3.047.590.00 2032 650.000.00 2.395.960.00 3.045.960.00 2033 695.000.00 2.350.460.00 3.045.460.00 2034 742.000.00 2.301.810.00 3.043.810.00 2035 793.000.00 2.249.870.00 3.042.870.00 2036 847.000.00 2.194.360.00 3.041.360.00 2037 906.000.00 2.135.070.00 3.041.070.00 2038 968.000.00 2.071.650.00 3.039.650.00 2039 1.034.000.00 2.003.890.00 3.037.890.00 2040 1.106.000.00 1.931.510.00 3.037.510.00 2041 1.182.000.00 1.854.090.00 3.036.090.00 2042 1.263.000.00 1.771.350.00 3.034.350.00 2043 1.351.000.00 1.682.940.00 3.033.940.00 2044 1.444.000.00 1.588.370.00 3.032.370.00 2045 1.544.000.00 1.487.290.00 3.031.290.00 2046 1.650.000.00 1.379.210.00 3.029.210.00 2047 1.764.000.00 1.263.710.00 3.027.710.00 2048 1.886.000.00 1.140.230.00 3.026.230.00 2049 2.017.000.00 1.008.210.00 3.025.210.00 2050 2.157.000.00 867.020.00 3.024.020.00 2051 2,306,000.00 716.030.00 3.022.030.00 2052 2.466.000.00 554.610.00 3.020.610.00 2053 2.63 7.000.00 381.990.00 3.018.990.00 2054 2.820.000.00 197.400.00 3.017.400.00 Total 536,907,000.00 S52,744,412.00 S89,651.412.00 FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 9 2026 ANNUAL SERVICE PLAN UPDATE EXHIBIT B-2- REIMBURSEMENT SCHEDULE Installment Due Annual Collection Total Annual Principal Interestlal 1/31 Costs Installment Due[b] 2027 $ 226,000.00 $ 1,242,220.00 $ 20,596.05 $ 1,488,816 2028 $ 244,000.00 $ 1,226,400.00 $ 20,487.77 $ 1,490,888 2029 $ 260,000.00 $ 1,209,320.00 $ 20,897.53 $ 1,490,218 2030 $ 277,000.00 $ 1,191,120.00 $ 21,315.48 $ 1,489,435 2031 $ 295,000.00 $ 1,171,730.00 $ 21,741.79 $ 1,488,472 2032 $ 315,000.00 $ 1,151,080.00 $ 22,176.62 $ 1,488,257 2033 $ 336,000.00 $ 1,129,030.00 $ 22,620.15 $ 1,487,650 2034 $ 359,000.00 $ 1,105,510.00 $ 23,072.56 $ 1,487,583 2035 $ 384,000.00 $ 1,080,380.00 $ 23,534.01 $ 1,487,914 2036 $ 410,000.00 $ 1,053,500.00 $ 24,004.69 $ 1,487,505 2037 $ 437,000.00 $ 1,024,800.00 $ 24,484.78 $ 1,486,285 2038 $ 467,000.00 $ 994,210.00 $ 24,974.48 $ 1,486,184 2039 $ 499,000.00 $ 961,520.00 $ 25,473.97 $ 1,485,994 2040 $ 532,000.00 $ 926,590.00 $ 25,983.45 $ 1,484,573 2041 $ 569,000.00 $ 889,350.00 $ 26,503.12 $ 1,484,853 2042 $ 608,000.00 $ 849,520.00 $ 27,033.18 $ 1,484,553 2043 $ 649,000.00 $ 806,960.00 $ 27,573.84 $ 1,483,534 2044 $ 694,000.00 $ 761,530.00 $ 28,125.32 $ 1,483,655 2045 $ 741,000.00 $ 712,950.00 $ 28,687.83 $ 1,482,638 2046 $ 793,000.00 $ 661,080.00 $ 29,261.58 $ 1,483,342 2047 $ 847,000.00 $ 605,570.00 $ 29,846.81 $ 1,482,417 2048 $ 905,000.00 $ 546,280.00 $ 30,443.75 $ 1,481,724 2049 $ 967,000.00 $ 482,930.00 $ 31,052.62 $ 1,480,983 2050 $ 1,033,000.00 $ 415,240.00 $ 31,673.68 $ 1,479,914 2051 $ 1,105,000.00 $ 342,930.00 $ 32,307.15 $ 1,480,237 2052 $ 1,181,000.00 $ 265,580.00 $ 32,953.29 $ 1,479,533 2053 $ 1,263,000.00 $ 182,910.00 $ 33,612.36 $ 1,479,522 2054 $ 1,350,000.00 $ 94,500.00 $ 34,284.61 $ 1,478,785 Total $ 17,746,000.00 $ 23,084,740.00 $ 744,722.46 $ 41,575,462.46 Footnotes: [a] Interest on the Reimbursement Obligation is calculated at a rate of 7.00%which is less than 2% above the highest average rate of the S&P Municipal High Yield Index which was 5.50%for October 2024,as required by the PID Act. If PID Bonds are issued,the interest rate on the Assessment will adjust to the interest rate on such PID Bonds plus the Additional Interest. [b]The figures above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs,interest earnings,or other available offsets could increease or decrease the amounts shown. FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 10 2026 ANNUAL SERVICE PLAN UPDATE LEXHIBIT C - LOT TYPE CLASSIFICATION MAP ®HOTEL 1115 ROOMS t I RETAIL 176.408 SF t I OFFICE 1194,050 SF I MIXED USE 1268.800 SF r1 GARAGE 11,015 PARKING SPACES 1 APARTMENTS 1750,000 SF FM 528 f o' r •. Lori— 11 Lo'3'-71101 It wii- — L • -• ., LL 'r� �-? i 1 :,1: eft" -;t 1«� ` E>y • �+ -- ail- nl1� l�:� +ir-"-{ J/ + &"..'"t.'-4'� 1�/' ::-LT, s 9 o.a p0 y o. . .+ 5,�S•� I��; ` •. "• 7 " t_ ' � :_ •i 75g,I O ... ,y 1 %AI, 5.4. 14,500 S'J 16,500 SF i if.,j 14,500 S 14,000 S t U it .. 'J-- witor march :nernmra. , +. .4 \'' W' , s--- a 55..1 1 SF LL :toll 161?,300 SF 4 , F it eA 1 a 2E / ]U, i la I Ft I __f_—i., �.s,r g g, .� "' . . _4. F•40 4.4.4...4 -t.4_ *_.h il• atjs . r c u dr .. + -II" L r4:ij, .n , • ram,• • -77 v, 4 m Wi 'lb 1� t�'1ya g ' , .� , I.i�iTJ v �,C '_ w Lam, i vl .. r" . 'r -a µ < ."'4f• IN gip", ,% \J y- b • , • •e�,tf• Q. it t c.1 arr ,I.�r• i 500 . • UNITS f , " .c.P:+�< •4 6 t <a _- UPPER POND e. :tom'e.e cy. r'/ • :u'Jif I JD -i z --. -. - ,� $gyp`} 528 FRIENDSWOOD [1:,'„.\\'‘'t,,1f '" i CITY CENTER V1 ''� 17:•- j t.s ety.•ir ":44'f'• a' SITE PLAN t "EVELO-. ( IV.i) .,:sit a'@�"'�1,+-.3�t A' '-, y�i '{/i�!EJ� ti�4 WtI I_AI.. FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 11 2026 ANNUAL SERVICE PLAN UPDATE EXHIBIT D- BUYER DISCLOSURES Buyer disclosures for the following Lot Types are found in this Exhibit: ■ Lot Type 1 ■ Lot Type 2 ■ Lot Type 3 ■ Lot Type 4 ■ Lot Type 5 FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT 12 2026 ANNUAL SERVICE PLAN UPDATE FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT— LOT TYPE 1 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship,conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice,the purchaser,subject to certain exceptions,is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF FRIENDSWOOD,TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS LOT TYPE 1 PRINCIPAL ASSESSMENT: $41.17 per Square Foot As the purchaser of the real property described above, you are obligated to pay assessments to City of Friendswood,Texas,for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Friendswood Ciry Center Public Improvement District (the "District") created under Subchapter A,Chapter 372,Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS,AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from City of Friendswood. The exact amount of each annual installment will be approved each year by the Friendswood City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates,may be obtained from City of Friendswood. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. To be included in separate copy of the notice required by Section 5.0143,Tex.Prop.Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),Tex.Prop.Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143,Texas Property Code,as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20_. Notary Public, State of Texas? 3 To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS § § COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20_. Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143,Tex. 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E a o _ FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT— LOT TYPE 2 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate,guardianship,conservatorship,or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest,or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice,the purchaser,subject to certain exceptions,is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: • NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF FRIENDSWOOD,TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS LOT TYPE 2 PRINCIPAL ASSESSMENT: $34.24 per Square Foot As the purchaser of the real property described above, you are obligated to pay assessments to City of Friendswood,Texas,for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Friendswood Ciry Center Public Improvement District (the "District") created under Subchapter A,Chapter 372,Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS,AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from City of Friendswood. The exact amount of each annual installment will be approved each year by the Friendswood City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates,may be obtained from City of Friendswood. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]Z 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),Tex.Prop.Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143,Texas Property Code,as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20_. Notary Public, State of Texas? 3 To be included in separate copy of the notice required by Section 5.0143,Tex.Prop.Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this 20_. Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. 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For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship,conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice,the purchaser,subject to certain exceptions,is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF FRIENDSWOOD,TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS LOT TYPE 3 PRINCIPAL ASSESSMENT: $15,492.94 As the purchaser of the real property described above, you are obligated to pay assessments to City of Friendswood,Texas,for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Friendswood City Center Public Improvement District (the "District") created under Subchapter A,Chapter 372,Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS,AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from City of Friendswood. The exact amount of each annual installment will be approved each year by the Friendswood City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates,may be obtained from City of Friendswood. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143,Tex. Prop.Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),Tex.Prop.Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20_. Notary Public, State of Texas]3 • 3 To be included in separate copy of the notice required by Section 5.0143,Tex.Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. 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O C .=i� .= - C E .-. 0 O N C C .r .. .. C O '- a, E .\ N N N M en 1N.1 M 1a.1 (41 T en fm.'1 01 O M Q N 10 n0, rn 00 00 IOn V1 N 1MA N W O) a G O O d E «. O O O o o O r O o O 0 0 0 u $ $ $ $ $ $ $ 60060 o w fu q a- q % N N N N N N N N N N N N N N N N N N N C C •C Y 1X d C y, a FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT— LOT TYPE 4 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELA l ED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate,guardianship,conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice,the purchaser,subject to certain exceptions,is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF FRIENDSWOOD,TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS LOT TYPE 4 PRINCIPAL ASSESSMENT: $28.87 per Square Foot As the purchaser of the real property described above, you are obligated to pay assessments to City of Friendswood,Texas,for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Friendswood City Center Public Improvement District (the "District") created under Subchapter A,Chapter 372,Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS,AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from City of Friendswood. The exact amount of each annual installment will be approved each year by the Friendswood City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates,may be obtained from City of Friendswood. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),Tex.Prop.Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143,Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20_. Notary Public, State of Texas? 3 To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this ,20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143,Tex.Prop. 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C n m m 0 m Q ,n ,O n m m 0 M Q W 5 Q 8 0 j �0, d _m0 E O N N M in en .n m M M m m m a Q Q Q Q Q ,n ,n u, v, . d O O N N o O O O o 0 o N O 0 0 0 0 0 0 0 0 N 0 0 0 0 0 O d d d d p « 0. N 9 O N N N N N N N N N N N N N N N N C _ F ? .c * W C L - Q Q O FRIENDSWOOD CITY CENTER PUBLIC IMPROVEMENT DISTRICT— LOT TYPE 5 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court- ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship,conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest,or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice,the purchaser,subject to certain exceptions,is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF FRIENDSWOOD,TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS LOT TYPE 5 PRINCIPAL ASSESSMENT: $46.56 per Square Foot As the purchaser of the real property described above, you are obligated to pay assessments to City of Friendswood,Texas,for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Friendswood City Center Public Improvement District (the "District") created under Subchapter A,Chapter 372,Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS,AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from City of Friendswood. The exact amount of each annual installment will be approved each year by the Friendswood City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates,may be obtained from City of Friendswood. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143,Tex. Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),Tex.Prop.Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143,Texas Property Code,as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_• Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143,Tex.Prop. Code,to be executed at the closing of the purchase and sale and to be recorded in the deed records of Harris County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS § COUNTY OF § The foregoing instrument was acknowledged before me by and ,known to me to be the person(s)whose name(s) is/are subscribed to the foregoing instrument,and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143,Tex.Prop. 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N m N Y ¢ $ 0 « a u d O_ E o ° 0 8 8 8 8 N 8 O N 8 N N 1OV O O O O al O d - W 4 N a N N N N N N N N N N N N N N N N N N N N C _F = F *° to a Q O O Council consensus on bond proposals and projects: • Hold off on placing the drainage projects on this election ballot as the costs estimates between what was presented to the Bond Committee and those presented to Council in the Master Drainage Plan are considerably different. o Council request additional information on the projects, which would no t be ready by the time the Council had to call the election, and. o Council requested that the staff put a plan together to identify the costs of a proposal for videoing and cleaning out the City's existing storm sewers, similar to what is done with the sewer systems. • Council directed staff to remove the sidewalks project item from the Streets and Transportation proposal for placement on the election ballot on its own. o The Council also requested that the staff identify the amount of the sidewalk's proposal based on the City's Active Transportation Plan. o The remaining projects of the Bay Area Boulevard from FM 528 to the City's Wastewater Treatment Plant, and reconstruction of Stadium Lane and Murphy Lane for$11 million would be placed on the ballot as one item. • Council directed staff to scale back the City's Facilities proposal by: o Remove the fuel Island at the PSB and only keep the fuel island at the Blackhawk Facility because the Galveston side of the City had access to FISD's fuel depot in cases of emergencies and the vehicles and equipment housed on the Harris County side of the City could be cut off should the creek flood the roads and make them unpassable, and o Focus the City Hall renovations to only those that relate to plumbing, electrical and mechanical, along with the need for new bathrooms. • Council wanted all facility projects to be placed as one proposal on the ballot. • For Parks and Open Spaces, the Council directed staff as follows: o Placement of the Stevenson Park Aquatics Facility Improvements to include the 50-meter poll and Aqua Play set for$7 million. o Have one proposal for the four park's projects as recommended by the Bond Committee o Place as a separate proposal the construction of a new Community Cetner to replace the Activity Center on Morningside Dr,that included all existing services, and add meeting room spaces, a designated polling place for Galveston County, and expansion of programming for children and young adults.