HomeMy WebLinkAboutOrd 951B Solana PID 2022
TOWN OF WESTLAKE, TEXAS
SOLANA PUBLIC IMPROVEMENT DISTRICT
2022ANNUALSERVICEPLANUPDATE
AUGUST29,2022
INTRODUCTION
Capitalized terms used in this Annual Service Plan Update shall have the meanings set forth in
the original Service and Assessment Plan or the DevelopmentAgreement, FinancingAgreement,
and Reimbursement Agreements, as applicable.
On February 24, 2014, the TownCounciladoptedResolution No. 14-07authorizing the creation
ofthePID to finance the costs of certain public improvementsfor the benefit of property inthe
PID.
On January 15, 2015, the Town Council adopted(1)Ordinance No. 741,which approved the levy
of Assessments on Assessed Property and approved the Service and Assessment Plan; (2)
Ordinance No. 742 approving the Financing Agreement and Reimbursement Agreement –Part A;
and (3) Ordinance No. 743 issuing the Town of Westlake, Texas Special Assessment Revenue
Bonds, Series 2015 (Solana Public Improvement District Project,Series 2015 Bonds) in the
aggregate principal amount of $26,175,000 to finance, refinance, provide or otherwise assist in
the acquisition, construction and maintenance of the public improvements provided for the
benefit of the property in the PID.The Service and Assessment Plan identified the Authorized
Improvements to be provided by the PID, the Authorized Improvement costs, the indebtedness
to be incurred for the Authorized Improvements, and the manner of assessing the property in
the PID for the costs of the Authorized Improvements. The Town Council also adopted an
Assessment Roll identifying the Assessments on each Lot within the PID, based on the method of
assessment identified in the Service and Assessment Plan.
On September 19, 2016, the Town Council adopted Ordinance No. 796, which approved the 2016
Annual Service Plan Update and updated the Assessment Roll for 2016.
On November 21, 2017, the Town Council adopted Ordinance No. 838, which approved the 2017
Annual Service Plan Update and updated the Assessment Rollfor 2017.
On January 29, 2018, the Town Council adopted Ordinance No. 843, whichapprovedthe levy of
Assessments on Improvement Area #1 Assessed Property and approved the Annual Service Plan
Update and Assessment Roll for Assessment Part B for the Reimbursement Agreement–Part B
in the aggregate principal amount of $2,425,000 secured by Assessments.
On August 22, 2018, the Town Council adopted Ordinance No. 861, which approved the 2018
Annual Service Plan Update and updated the Assessment Roll for 2018.The 2018 Annual Service
Plan Updated served to update both the Service and Assessment Planand the Annual Service
Plan for Assessment Part B.
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2022ANNUAL SERVICE PLANUPDATE
On August 26, 2019, the Town Council adopted Ordinance No. 890, which approved the 2019
Annual Service Plan Update and updated the Assessment Roll for 2019.
On August 24, 2020, the Town Council adopted Ordinance No. 912, which approved the 2020
Annual Service Plan Update and updated the Assessment Roll for 2020.
On August 23, 2021, the Town Council adopted Ordinance No. 930, which approved the 2021
Annual Service Plan Update and updated the Assessment Roll for 2021.
Pursuant to the PID Act, the Service and Assessment Planmust be reviewed and updated
annually. This document is the Annual Service PlanUpdate for 2022. This 2022Annual Service
Plan Update also updates the Assessment Roll for 2022.
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2022 ANNUAL SERVICE PLAN UPDATE
PARCEL SUBDIVISION
The Replat of Westlake Entrada Primrose Lots 2R, &3R, Block M was filed and recorded
with the County on September 2, 2016, which consistedof 2 commercial Lots.
The Replat of Westlake Entrada Block B, Lot R, Block I, Lots 1 & 2X, Block J, Lots 11-16,
17X, 18X, 19X, & 20X, and Block S, Lot 1X was filed and recorded with the County on April
11, 2017, which consistedof 6 residential Lots and 4 Lots of Non-Benefited Property.
The Replat of Westlake EntradaLots 1XR, 2XR, 3-14, 15X, 16X, & 17X, Block I was filed and
recorded with the County of September 11, 2017, which consisted of 12 residential Lots
and 5 Lots of Non-Benefited Property.
The Replat of Westlake EntradaBlock L, Lot 6 & Block S, Lot 2Xwas filed and recorded
with the County on September 19, 2017, which consistedof 1commercialLot and 1 Lot
of Non-Benefited Property.
The Replat of Westlake Entrada Lots 1R, 2, 3, & 4, Block A, and Lots 1R, 2RX & 3RX, Block
O was filed and recorded with the County on April 5, 2018, which consisted of 4
commercial Lots and 3 Lots of Non-Benefited Property.
The Replat of Lot 1, Block B Westlake Entrada consisting of Lots 1R, 2-5, Block B, Lots 1-2,
3A, 3B, 4-6, BlockC, Lot1, 2X, Block D, Lots1, 15-17, 18X, BlockE, Lots 1-5, 6X, BlockF,
Lots 1-5, 6X, BlockG, Lots 1-5, 6X, BlockH, Lot1, BlockJ, Lots 1- 5, BlockK, Lots 1-5, Block
L, Lots 1-3, 4X, 5X, BlockP, Lot1, Block Q, Lot1, BlockR was filed and recorded with the
County on June 27, 2018.
The Amended Plat of Westlake Entrada Lots 1XRR, 2XRR, 3R-14R, & 15XR, Block I was filed
and recorded with the County on August 28, 2018, which consistedof 12 residential Lots
and 2 Lots of Non-Benefited Property.
The Replat of Westlake Entrada Lots 1R, 2-14, 19X, 20X, Block E was filed and recorded
with the County on June 27, 2019, which consistedof 14 residential Lots and 2 Lots of
Non-Benefited Property.
The Amended Plat of Westlake Entrada Lots 4R, 5R, 6R, & 7R, Block E, was filed and
recorded with the County on July 9, 2021, which consisted of 4 residential Lots.
The Replat of Westlake Entrada Lots 1R1 to 1R10, 2R, 3R, 4R & 5R, Block G, was filed and
recorded with the County on May 25, 2022, which consisted of 14 residential Lots. The
Replat of Westlake Entrada Lots 1R1 to 1R10, 2R, 3R, 4R & 5R, Block G is attached hereto
as Exhibit B.
LOT SALES & HOME SALES UPDATE
Residential
Per the Quarterly Report dated March 31, 2022, 35residential units have started construction,
30residential units have completed construction, and 3 residential units havebeen sold to end-
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2022ANNUAL SERVICE PLANUPDATE
users.Completion of all residential units in the PID is expected to occur in July 2025.
Commercial
Per the Town staffand Developer, of the expected 1,158,299 square feet of commercial space
described in the Service and Assessment Plan, approximately 94,319square feet of commercial
development has been constructed, including a CVS, Primrose Daycare Center, Entrada Sales
Office, Retail Corner/Starbucks, restaurants, chapel, reception hall, and parking garage.
Buyer discloses for the proposed uses are attached hereto as Exhibit F.
AUTHORIZED IMPROVEMENTS
Improvement Project A
Per the Quarterly Report dated March 31, 2022, all Improvement Area #1 and Improvement Area
#2 Authorized Improvements in Improvement Project A are being funded by Series 2015 Bond
funds.The balance in the Improvement Fund with US Bank is $30,406.12as of February 28, 2022.
According to the Developer, available remaining funds are currently projected to be sufficient to
complete the Authorized Improvement for Improvement Project A in Improvement Area #1 and
Improvement Area #2. Improvement Area #1 and Improvement Area #2 Authorized
Improvements are significantly complete, with remaining items being the installation of iron
benches. Improvement Area #3 Authorized Improvements are partially constructed (and such
costs of $680,000 to date have been funded by the Developer), with an estimated cost of
$3,400,000 anticipated to be funded by the Developer and subject to the Reimbursement
Agreement – Part A. Improvement Area #3 Authorized Improvements are on hold indefinitely.
See the table below for details about the Improvement Project A budget.
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2022ANNUAL SERVICE PLANUPDATE
Original vs. Revised Budget - Improvement Project A
Series 2015 BondsReimbursement Agreement - Part A
Original Budget as of Original Budget as of
1212
BudgetRevisions3/31/22BudgetRevisions3/31/22
Authorized Improvements
Road$ 3,767,430$ 1,083,177$ 4,850,607$ 622,470$ -$ 622,470
Water Distribution System 890,040 (668,035) 222,005 171,680 - 171,680
Sanitary Sewer 1,531,196 (1,298,927) 232,269 350,100 - 350,100
Storm drainage 1,154,306 (1,154,306) - 579,566 - 579,566
Landscaping 1,830,501 (661,929) 1,168,572 - - -
Duct Bank 640,304 (142,838) 497,466 93,650 - 93,650
3
8,120,860 (1,131,154) 6,989,706 573,896 - 573,896
Other Costs
Parking Facility - - - - - -
Consolidated Wet Utilities Contract - 3,974,012 3,974,012 - - -
$ 17,934,637$ (1) $ 17,934,637$ 2,391,362$ -$ 2,391,362
Bond Issue Costs
Capitalized Interest $ 3,216,750$ -$ 3,216,750$ 218,620 $ -$ 218,620
Debt Service Reserve 2,074,313 - 2,074,313 340,000 - 340,000
Other Bond Issuance Related Costs 2,949,301 - 2,949,301 450,018 - 450,018
$ 8,240,364$ -$ 8,240,364$ 1,008,638$ -$ 1,008,638
Total Uses$ 26,175,001$ (1)$ 26,175,001$ 3,400,000$ -$ 3,400,000
Notes:
1) Budget as shown in the Service and Assessment Plan.
2)ThebudgetfortheAuthorizedImprovementsisadjustedinthisAnnualServicePlanUpdateastheAuthorizedImprovementsareconstructed
and the Actual Costs of the Authorized Improvements are determined, per draw 38 provided by the Developer.
3) See Appendix B of the Service and Assessment Plan for details.
Improvement Project B
Per the Quarterly Report dated March 31, 2022, Improvement Project B (the public parking
garage) improvements are under construction, and the estimated costs of $6,160,000 are
anticipated to be funded by the Developer, of which $2,450,000 are subject to Reimbursement
Agreement – Part B. The structure for the Parking Garage is completed, and masonry façade
sample was approved by the Town on the fourth quarter of 2020. See the table below for details
about the Improvement Project B budget.
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2022 ANNUAL SERVICE PLAN UPDATE
Original vs. Revised Budget - Improvement Project B (Parking Garage)
Budget as of
12
Original BudgetRevisions3/31/22
Authorized Improvements
Road$ -$ -$ -
Water Distribution System - - -
Sanitary Sewer - - -
Storm Drainage - - -
Landscaping - - -
Duct Bank - - -
3
- - -
Other Costs
Parking Facility 6,160,000 - 6,160,000
$ 6,160,000$ -$ 6,160,000
Bond issue costs
Capitalized Interest $ 170,000$ -$ 170,000
Debt Service Reserve 242,500 - 242,500
Other Bond Issuance Related Costs 242,500 - 242,500
$ 655,000$ -$ 655,000
Total Uses$ 6,815,000$ -$ 6,815,000
Notes:
1) Budget as shown in the Service and Assessment Plan.
2)ThebudgetfortheAuthorizedImprovementsisadjustedinthisAnnualServicePlanUpdateasthe
AuthorizedImprovementsareconstructedandtheActualCostsoftheAuthorizedImprovementsare
determined.
3) See Appendix B of Service and Assessment Plan for details.
OUTSTANDING ASSESSMENT
Improvement Area #1
Improvement Area #1 has an outstanding Assessment of $19,766,077.29. The outstanding
Assessment is less than the $19,802,539.78in outstanding Assessment Part A and Assessment
Part B, as shown below,due to a mandatory prepayment of Assessments for whichAssessment
Part A or Assessment Part Bhave not yet been redeemedor released.
Improvement Area #1
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Outstanding Assessment
Series 2015 Bond$ 15,392,721.89$ -$ -$ 15,392,721.89
Reimbursement Agreement - Part A - 2,149,817.89 - 2,149,817.89
Reimbursement Agreement - Part B - - 2,260,000.00 2,260,000.00
$ 15,392,721.89$ 2,149,817.89$ 2,260,000.00$ 19,802,539.78
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2022ANNUAL SERVICE PLANUPDATE
Improvement Area #2
Improvement Area #2 has an outstanding Assessment of $4,898,229.45. The outstanding
Assessment is less than the $5,167,705.53in outstanding Assessment Part A, as shown below,
due to a mandatory prepayment of Assessments for whichAssessment Part Ahave not yet been
redeemedor released.
Improvement Area #2
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Outstanding Assessment
Series 2015 Bond$ 4,534,409.22$ -$ -$ 4,534,409.22
Reimbursement Agreement - Part A - 633,296.31 - 633,296.31
Reimbursement Agreement - Part B - - - -
$ 4,534,409.22$ 633,296.31$ -$ 5,167,705.53
Improvement Area #3
Improvement Area #3 has an outstanding Assessment of $4,470,754.69, as shown below.
Improvement Area #3
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Outstanding Assessment
Series 2015 Bond$ 3,922,868.89$ -$ -$ 3,922,868.89
Reimbursement Agreement - Part A - 547,885.80 - 547,885.80
Reimbursement Agreement - Part B - - - -
$ 3,922,868.89$ 547,885.80$ -$ 4,470,754.69
ANNUAL INSTALLMENT DUE 1/31/2023
Improvement Area #1
Principal and Interest - Thetotal principal and interest required for the Annual
Installment for Improvement Area #1 is $1,606,689.31.
Prepayment Reserve -The Prepayment Reserve Requirement, as defined in the
Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and
has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Prepayment Reserve amount due for Improvement Area #1 of $30,785.44.
Delinquency Reserve - The Delinquency Reserve Requirement, as defined in the
Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has
not yet been met. As such, the Delinquency Reserve will be funded with 60% of the
SOLANAPUBLIC IMPROVEMENT DISTRICT
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2022ANNUAL SERVICE PLANUPDATE
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Delinquency Reserve amount due for Improvement Area #1 of $46,178.17.
Administrative Expenses - The cost of administering the PID and collecting the Annual
Installments 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 Administration Expenses
budgeted for the Annual Installment for Improvement Area #1 is $58,067.19. A
breakdown of the Administrative Expenses is shown below.
Improvement Area #1
Administrative Expenses Breakdown
Administration$ 43,687.81
City Auditor 1,681.70
Filing Fees 672.68
County Collection 134.54
PID Trustee Fees 2,181.70
Dissemination Agent 3,363.40
Draw Request Review 5,000.00
Continuing Disclosure Review 672.68
Miscellaneous 672.68
Total Administrative Expenses$ 58,067.19
Improvement Area #1
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Annual Installment Due 1/31/2023
Principal$ 306,563.64$ 18,716.52$ 50,000.00$ 375,280.16
Interest 955,510.47 138,233.29 137,665.39 1,231,409.15
Prepayment Reserve 30,785.44 - - 30,785.44
Delinquency Reserve 46,178.17 - - 46,178.17
Administrative Expenses 58,067.19 - - 58,067.19
$ 1,397,104.92$ 156,949.81$ 187,665.39 $ 1,741,720.11
Improvement Area #2
Principal and Interest - The total principal and interest required for the Annual
Installment for Improvement Area #2 is $418,018.02.
Prepayment Reserve - The Prepayment Reserve Requirement, as defined in the
Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and
has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Prepayment Reserve amount due for Improvement Area #2 of $9,068.82.
Delinquency Reserve – The Delinquency Reserve Requirement, as defined in the
Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has
not yet been met. As such, the Delinquency Reserve will be funded with 60% of the
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Delinquency Reserve amount due for Improvement Area #2 of $13,606.23.
SOLANAPUBLIC IMPROVEMENT DISTRICT
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2022 ANNUAL SERVICE PLAN UPDATE
Administrative Expenses - The cost of administering the PID and collecting the Annual
Installments 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 Administration Expenses
budgeted for the Annual Installment for Improvement Area #2 is $13,714.16. A
breakdown of the Administrative Expenses is shown below.
Improvement Area #2
Administrative Expenses Breakdown
Administration$ 11,397.64
City Auditor 438.74
Filing Fees 175.49
County Collection 35.10
PID Trustee Fees 438.74
Dissemination Agent 877.47
Draw Request Review -
Continuing Disclosure Review 175.49
Miscellaneous 175.49
Total Administrative Expenses$ 13,714.16
Improvement Area #2
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Annual Installment Due 1/31/2023
Principal$ 90,307.94$ 5,513.54$ -$ 95,821.48
Interest 281,475.59 40,720.95 - 322,196.54
Prepayment Reserve 9,068.82 - - 9,068.82
Delinquency Reserve 13,603.23 - - 13,603.23
Administrative Expenses 13,714.16 - - 13,714.16
$ 408,169.74$ 46,234.49$ -$ 454,404.23
Improvement Area #3
Principal and Interest - The total principal and interest required for the Annual
Installment for Improvement Area #3 is $361,641.35.
Prepayment Reserve - The Prepayment Reserve Requirement, as defined in the
Indenture, is equal to 1.5% of the principal amount of the then Outstanding Bonds and
has not yet been met. As such, the Prepayment Reserve will be funded with 40% of the
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Prepayment Reserve amount due for Improvement Area #3 of $7,845.74.
Delinquency Reserve - The Delinquency Reserve Requirement, as defined in the
Indenture, is equal to 4% of the principal amount of the then Outstanding Bonds and has
not yet been met. As such, the Delinquency Reserve will be funded with 60% of the
additional 0.5% interest on the Series 2015 Bonds outstanding Assessment, resulting in a
Delinquency Reserve amount due for Improvement Area #3 of $11,768.61.
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2022 ANNUAL SERVICE PLAN UPDATE
Administrative Expenses - The cost of administering the PID and collecting the Annual
Installmentsshall be paid for on a pro rata basis by each Parcel based on the amount of
outstanding Assessment remaining on the Parcel. The total Administration Expenses
budgeted for the Annual Installment for Improvement Area #3 is $11,864.59. A
breakdown of the Administrative Expenses is shown below.
Improvement Area #3
Administrative Expenses Breakdown
Administration$ 9,860.48
City Auditor 379.56
Filing Fees 151.83
County Collection 30.37
PID Trustee Fees 379.56
Dissemination Agent 759.13
Draw Request Review -
Continuing Disclosure Review 151.83
Miscellaneous 151.83
Total Administrative Expenses$ 11,864.59
Improvement Area #3
Assessment Part AAssessment Part BTotal
Reimbursement Reimbursement
Agreement - Agreement -
Series 2015 Bond Part A Part B Total
Annual Installment Due 1/31/2023
Principal$ 78,128.42$ 4,769.95$ -$ 82,898.36
Interest 243,513.94 35,229.06 - 278,742.99
Prepayment Reserve 7,845.74 - - 7,845.74
Delinquency Reserve 11,768.61 - - 11,768.61
Administrative Expenses 11,864.59 - - 11,864.59
$ 353,121.29$ 39,999.00$ -$ 393,120.29
The debt service schedules for the Series 2015 Bonds, Reimbursement Agreement – Part A, and
Reimbursement Agreement – Part B, as provided by Lawrence FinancialConsulting, LLC, are
attached hereto as Exhibit E-1, Exhibit E-2, and Exhibit E-3, respectively.
PREPAYMENT OF ASSESSMENTS IN FULL
No prepayments in full have occurred within the PID.
PARTIAL PREPAYMENTS OF ASSESSMENTS
The filing of the Replat of Westlake Entrada Lots 1R1 to 1R10, 2R, 3R, 4R & 5R, Block Gtriggered
a mandatory prepayment on Lots 1R1 to 1R10, 2R, 3R, 4R & 5R, Block Gpursuant to Section VI.C
of the Service and Assessment Plan. Themandatory prepaymentresulted in a net $305,938.57
reductionof Assessments ($36,462.49 allocable to Improvement Area #1 and $269,476.08
allocable to Improvement Area #2).
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2022ANNUAL SERVICE PLANUPDATE
EXTRAORDINARY OPTIONAL REDEMPTIONS
No extraordinary optional redemptions have occurred to date.
SERVICE PLAN – FIVE YEAR BUDGET FORECAST
The PID Act requires the annual indebtedness and projected costs for the 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.
Improvement Area #1
1/31/20231/31/20241/31/20251/31/20261/31/2027
Annual Installment Due
$ 375,280.16 $ 395,287.47 $ 416,422.40 $ 453,210.04 $ 478,862.75
Principal
1,231,409.15 1,205,074.79 1,182,946.40 1,159,637.85 1,131,944.56
Interest
$ 1,606,689.31 $ 1,600,362.26 $ 1,599,368.80 $ 1,612,847.89 $ 1,610,807.31
(1)
$ 76,963.61 $ 75,430.79 $ 73,817.30 $ 72,123.13 $ 70,267.61
Delinquency & Prepayment Reserve(2)
$ 58,067.19 $ 59,228.53 $ 60,413.10 $ 61,621.37 $ 62,853.79
Administrative Expenses(3)
$ 1,741,720.11 $ 1,735,021.59 $ 1,733,599.21 $ 1,746,592.39 $ 1,743,928.71
Total Annual Installment(4) = (1) + (2) + (3)
Improvement Area #2
1/31/20231/31/20241/31/20251/31/20261/31/2027
Annual Installment Due
$ 95,821.48 $ 101,715.26 $ 106,468.31 $ 117,305.26 $ 123,389.16
Principal
322,196.54 316,875.09 311,218.86 305,301.22 298,091.92
Interest
$ 418,018.02 $ 418,590.35 $ 417,687.17 $ 422,606.48 $ 421,481.09
(1)
$ 22,672.05 $ 22,220.51 $ 21,745.20 $ 21,246.13 $ 20,699.53
Delinquency & Prepayment Reserve(2)
$ 13,714.16 $ 13,988.44 $ 14,268.21 $ 14,553.58 $ 14,844.65
Administrative Expenses(3)
$ 454,404.23 $ 454,799.30 $ 453,700.59 $ 458,406.19 $ 457,025.26
Total Annual Installment(4) = (1) + (2) + (3)
Improvement Area #3
1/31/20231/31/20241/31/20251/31/20261/31/2027
Annual Installment Due
$ 82,898.36 $ 87,997.27 $ 92,109.29 $ 101,484.70 $ 106,748.09
Principal
278,742.99 274,139.22 269,245.83 264,126.29 257,889.28
Interest
$ 361,641.35 $ 362,136.49 $ 361,355.13 $ 365,610.99 $ 364,637.37
(1)
$ 19,614.34 $ 19,223.70 $ 18,812.50 $ 18,380.74 $ 17,907.86
Delinquency & Prepayment Reserve(2)
$ 11,864.59 $ 12,101.88 $ 12,343.92 $ 12,590.80 $ 12,842.61
Administrative Expenses(3)
$ 393,120.29 $ 393,462.08 $ 392,511.54 $ 396,582.52 $ 395,387.84
Total Annual Installment(4) = (1) + (2) + (3)
PID Total
1/31/20231/31/20241/31/20251/31/20261/31/2027
Annual Installment Due
$ 554,000.00 $ 585,000.00 $ 615,000.00 $ 672,000.00 $ 709,000.00
Principal
1,832,348.69 1,796,089.10 1,763,411.10 1,729,065.36 1,687,925.76
Interest
$ 2,386,348.69 $ 2,381,089.10 $ 2,378,411.10 $ 2,401,065.36 $ 2,396,925.76
(1)
$ 119,250.00 $ 116,875.00 $ 114,375.00 $ 111,750.00 $ 108,875.00
Delinquency & Prepayment Reserve(2)
$ 83,645.94 $ 85,318.86 $ 87,025.24 $ 88,765.74 $ 90,541.06
Administrative Expenses(3)
$ 2,589,244.63 $ 2,583,282.96 $ 2,579,811.34 $ 2,601,581.10 $ 2,596,341.82
Total Annual Installment(4) = (1) + (2) + (3)
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EQUIVALENT UNITS
The Service and Assessment Plan uses Equivalent Units to apportion Assessmentsbased on Land
Use Class. Thechart attached hereto as Exhibit C summarizes the original planned number of
units broken down by Land Use Class and Improvement Area, assigns the Equivalent Unit factor
to each Land Use Class as was originally calculated in the Service and Assessment Plan, and
determines the total number of Equivalent Units for each Land Use Class in Improvement Area
#1, Improvement Area #2, and Improvement Area #3. Equivalent Unit Factors are then multiplied
by total Equivalent Units in each Land Use Class to determine Assessment per Unit for each Land
Use Class for both Assessment Part A and Assessment Part B.
The 2018 Annual Service Plan Updateapproved by Ordinance No. 861 on August 27, 2018
allocated Equivalent Units and their Assessment totheir 2018 tax parcel IDs assigned by the
County. For the purpose of calculating or reallocating of Assessments and any corresponding
prepayments of Assessments, all subsequent annual service plan updates, including this Annual
Service Plan Update, is to use the information set forth in Exhibit D.
The calculation of the estimated number of units to be built on a Parcel shall be performed by
the Administrator and confirmed by the Town Council based on the information available
regarding the use of the Parcel. The outstanding Assessment Part A and outstanding Assessment
Part B in each Improvement Area is reallocated to the newly platted Parcels based on the
corresponding approved development plans and projected development plan for each Parcel
provided by the Developer. The detailed projected land use by Parcel isprovided by the
Developer and the corresponding Equivalent Unit calculations are shown in Exhibit D.
ASSESSMENT ROLL
The list ofcurrentParcels or Lots within the PID, the corresponding totalAssessments, and
current Annual Installment are shown on the Assessment Roll attached hereto as Exhibit A. The
Parcels shown on the Assessment Roll will receive thebills for the 2022 Annual Installments which
will be delinquent if not paid by January 31, 2023.
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UBLIC IMPROVEMENT DISTRICT
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ANNUAL SERVICE PLAN
2
SOLANA202
17
UPDATE
UBLIC IMPROVEMENT DISTRICT
P
ANNUAL SERVICE PLAN
2
SOLANA202
19
UPDATE
UBLIC IMPROVEMENT DISTRICT
P
ANNUAL SERVICE PLAN
2
SOLANA202
EXHIBIT D–LAND USE AND EQUIVALENT UNITS BY PROPERTY ID
ImprovementArea#1
Outstanding
2021 Property 2022 Property Units/ Land Use EU
\[a\]\[b\]
IDIDProposed UseSq. Ft.ClassFactorTotal EUAssessment
4244707942447079
Commercial - Retail2,200100.220.48$29,413.07
4244705242447052
Commercial - Retail1,200100.220.26$16,043.49
4244706142447061
Commercial - Office24,000110.204.80$291,699.89
Commercial - Retail7,000100.221.54$93,587.05
4222999342229993
Condo (2,500 sq. ft. to 3,600 sq. ft.)320.621.86$113,033.71
Condo (Under 2,500 sq. ft.)63 0.60 3.60 $218,774.91
4223000242230002Commercial - Retail3,460100.220.76$46,258.74
4223001142230011Commercial - Retail14,770100.223.25$197,468.67
4223002942230029Commercial - Office3,100110.200.62$37,677.90
4223003742230037Commercial - Office2,300110.200.46$27,954.57
4222997742229977Commercial - Retail12,100100.222.66$161,771.89
4222998542229985Commercial - Retail3,600100.220.79$48,130.48
4240279242402792
Commercial - Office37,000110.207.40$449,703.99
4240043942400439
Commercial - Office80,000110.2016.00$972,332.95
4240231842402318
Commercial - Retail72,472100.2215.94$968,924.52
4240232642402326
Public---$-
4240233442402334
Commercial - Office60,433110.2012.09$734,516.52
4240267942402679
Commercial - Office3,000110.200.60$36,462.49
4240261042402610
Public---$-
4240255542402555
Commercial - Office3,000110.200.60$36,462.49
4240249142837489
Commercial - Office5,000110.201.00$60,770.81
4240235142402351Public---$-
4240234242402342
Commercial - Retail67,263100.2214.80$899,282.39
4240236942402369
Commercial - Hospitality42,361120.218.90$540,605.57
4261673342616733
Commercial - Hospitality19,139120.214.02$244,249.43
4240237742402377
Commercial - Retail20,200100.224.44$270,065.48
4240238542402385
Commercial - Retail5,000100.221.10$66,847.89
4240239342402393
Commercial - Retail8,000100.221.76$106,956.62
4240242342402423
Commercial - Retail2,100100.220.46$28,076.11
4240240742402407
Commercial - Retail15,000100.223.30$200,543.67
4240241542402415
Commercial - Retail12,500100.222.75$167,119.73
4240283142402831
Commercial - Retail21,900100.224.82$292,793.76
Commercial - Retail5,000100.221.10$66,847.89
4240274142402741
Condo (More than 3,600 sq. ft.)611.006.00$364,624.86
Condo (2,500 sq. ft. to 3,600 sq. ft.)620.623.72$226,067.41
4240282242402822
Commercial - Institutional33,000130.196.27$381,032.98
4234642642346426
Commercial - Office22,000110.204.40$267,391.56
Commercial - Retail37,800100.228.32$505,370.05
4240278442402784
Condo (More than 3,600 sq. ft.)2011.0020.00$1,215,416.19
Condo (2,500 sq. ft. to 3,600 sq. ft.)3920.6224.18$1,469,438.17
Commercial - Retail23,400100.225.15$312,848.13
4240276842402768
Condo (More than 3,600 sq. ft.)611.006.00$364,624.86
Commercial - Retail23,400100.225.15$312,848.13
4240277642402776
Condo (2,500 sq. ft. to 3,600 sq. ft.)820.624.96$301,423.22
4240269542402695
Commercial - Hospitality97,000120.2120.37$1,237,901.39
4240270942402709
Commercial - Hospitality97,000120.2120.37$1,237,901.39
Commercial - Retail5,000100.221.10$66,847.89
4240275042402750
Condo (More than 3,600 sq. ft.)611.006.00$364,624.86
Condo (2,500 sq. ft. to 3,600 sq. ft.)1520.629.30$565,168.53
4240271742402717100,000
Commercial - Institutional130.1919.00$1,154,645.38
4240272542402725131,600
Commercial - Institutional130.1925.00$1,519,513.32
Commercial - Office-110.20-$-
4244712542447125
Commercial - Office3,000110.200.60$36,462.49
4240044742400447
Commercial - Office36,000110.207.20$437,549.83
Total - IA #1:325.26$19,766,077.29
Notes:
\[a\] The proposed uses for each Property ID are provided by the Developer.
\[b\]ThetotaloutstandingAssessmentislessthantheoutstandingAssessmentPartAandAssessmentPartBallocabletoImprovementArea#1dueto
mandatory prepayments for which Assessment Part A or Assessment Part B have not yet been redeemed or released.
SOLANAPUBLIC IMPROVEMENT DISTRICT
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2022ANNUAL SERVICE PLANUPDATE
ImprovementArea#2
Outstanding
2021 Property 2022 Property Units/ Land Use EU
\[a\]\[b\]
IDIDProposed UseSq. Ft.ClassFactorTotal EUAssessment
4222996942229969Villa - West Residential (Under 2,500 sq. ft.)2460.5212.47$663,711.96
4240268742402687
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)650.684.11$218,640.97
4240262842402628
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)650.684.11$218,640.97
4240263642402636Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240264442402644
4240265242402652Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (Under 2,500 sq. ft.)1560.527.79$414,819.98
4240266142402661
4240256342402563Villa - West Residential (More than 3,600 sq. ft.)1041.0010.00$532,207.49
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240257142402571
4240258042402580Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240259842402598
4240260142402601Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240250442402504
4240251242402512Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240252142402521Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240253942402539Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240254742402547Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)1550.6810.27$546,602.44
4240246642837454Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240247442837462Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4240248242837471
4240243142402431Villa - West Residential (Under 2,500 sq. ft.)1060.525.20$276,546.65
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4250912142509121
4250913942509139Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4250914742509147
4250915542791926Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4250916342791934
4250917142791942Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4250918042791951
4250919842509198Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4250920142509201
4250921042509210Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4250922842509228Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4250923642509236Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4250924442509244Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4250925242509252Villa - West Residential (More than 3,600 sq. ft.)141.001.00$53,220.75
4242458342424583Villa - West Residential (Under 2,500 sq. ft.)160.520.52$27,654.67
Villa - West Residential (Under 2,500 sq. ft.)160.520.52$27,654.67
4242459142424591
4242460542424605Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
Villa - West Residential (Under 2,500 sq. ft.)160.520.52$27,654.67
4242461342424613
4242462142424621Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4242463042424630
4242464842424648Villa - West Residential (Under 2,500 sq. ft.)160.520.52$27,654.67
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4242465642424656
4242466442424664Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4242467242424672
4242468142424681Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4242469942424699
4233116042331160Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4233117842331178Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4233118642331186Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4233119442331194Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4233120842331208Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
4233121642331216Villa - West Residential (2,500 sq. ft. to 3,600 sq. ft.)150.680.68$36,440.16
132 Total - IA #2:92.04$4,898,229.45
Notes:
\[a\] The proposed uses for each Property ID are provided by the Developer.
\[b\]ThetotaloutstandingAssessmentislessthantheoutstandingAssessmentPartAallocabletoImprovementArea#2duetomandatoryprepayments
for which Assessment Part A have not yet been redeemed or released.
SOLANAPUBLIC IMPROVEMENT DISTRICT
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2022ANNUAL SERVICE PLANUPDATE
ImprovementArea#2
2021 Property 2022 Property Units/ Land Use EUOutstanding
\[a\]
IDIDProposed UseSq. Ft.ClassFactorTotal EUAssessment
Villa - East Residential (More than 3,600 sq. ft.)2171.0021.00$1,663,462.94
4240282242402822Villa - East Residential (2,500 sq. ft. to 3,600 sq. ft.)2380.6815.64$1,238,883.83
Villa - East Residential (Under 2,500 sq. ft.)3690.5519.80$1,568,407.92
80 Total - IA #3:56.44$4,470,754.69
Notes:
\[a\] The proposed uses for each Property ID are provided by the Developer.
SOLANAPUBLIC IMPROVEMENT DISTRICT
23
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EXHIBIT E-1–SERIES 2015 BONDS DEBT SERVICE SCHEDULE
SOLANAPUBLIC IMPROVEMENT DISTRICT
24
2022ANNUAL SERVICE PLANUPDATE
SOLANAPUBLIC IMPROVEMENT DISTRICT
25
2022 ANNUAL SERVICE PLAN UPDATE
EXHIBIT E-2–REIMBURSEMENT AGREEMENT –PART A DEBT SERVICE SCHEDULE
SOLANAPUBLIC IMPROVEMENT DISTRICT
26
2022ANNUAL SERVICE PLANUPDATE
EXHIBIT E-3 – REIMBURSEMENT AGREEMENT – PART B DEBT SERVICE SCHEDULE
SOLANAPUBLIC IMPROVEMENT DISTRICT
27
2022ANNUAL SERVICE PLANUPDATE
EXHIBIT F–BUYER DISCLOSURES
Forms of the buyer disclosures for the following proposed uses areshown in this exhibit.
Improvement Area #1
Commercial –Retail(per 1,000 sf)
Commercial –Office(per 1,000 sf)
Commercial –Hospitality(per 1,000 sf)
Commercial –Institutional(per 1,000 sf)
Condo (More than 3,600 sf)
Condo (2,500 to 3,600 sf)
Condo (Under 2,500 sf)
Improvement Area #2
Villa –West Residential (More than 3,600 sf)
Villa –West Residential (2,500 sf to 3,600 sf)
Villa –West Residential (Under 2,500 sf)
Improvement Area #3
Villa –East Residential (More than 3,600 sf)
Villa –EastResidential (2,500 sf to 3,600 sf)
Villa –East Residential (Under 2,500 sf)
SOLANAPUBLIC IMPROVEMENT DISTRICT
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2022ANNUAL SERVICE PLANUPDATE
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –
COMMERCIAL –RETAIL (PER 1,000 SF) –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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – COMMERCIAL – RETAIL (PER 1,000 SF)
PRINCIPAL ASSESSMENT: $13,369.58
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – COMMERCIAL – RETAIL
(PER 1,000 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 253.37$ 831.38$ 51.96$ 39.28$ 1,175.99
2024$ 266.88$ 813.60$ 50.93$ 40.06$ 1,171.46
2025$ 281.15$ 798.66$ 49.84$ 40.86$ 1,170.51
2026$ 305.98$ 782.92$ 48.69$ 41.68$ 1,179.28
2027$ 323.30$ 764.23$ 47.44$ 42.51$ 1,177.48
2028$ 351.95$ 744.47$ 46.13$ 43.36$ 1,185.92
2029$ 370.58$ 722.95$ 44.72$ 44.23$ 1,182.48
2030$ 396.28$ 700.29$ 43.25$ 45.12$ 1,184.94
2031$ 427.98$ 676.05$ 41.67$ 46.02$ 1,191.72
2032$ 462.73$ 649.85$ 39.98$ 46.94$ 1,199.50
2033$ 493.56$ 621.50$ 38.18$ 47.88$ 1,201.12
2034$ 535.72$ 591.26$ 36.28$ 48.83$ 1,212.09
2035$ 567.41$ 558.43$ 34.21$ 49.81$ 1,209.86
2036$ 614.25$ 523.64$ 32.03$ 50.81$ 1,220.73
2037$ 657.72$ 485.39$ 29.68$ 51.82$ 1,224.62
2038$ 702.49$ 444.43$ 27.18$ 52.86$ 1,226.96
2039$ 747.26$ 400.67$ 24.51$ 53.92$ 1,226.35
2040$ 807.17$ 354.11$ 21.68$ 55.00$ 1,237.95
2041$ 857.06$ 303.81$ 18.63$ 56.10$ 1,235.59
2042$ 926.67$ 249.60$ 15.41$ 57.22$ 1,248.89
2043$ 988.76$ 190.96$ 11.93$ 58.36$ 1,250.00
2044$ 1,063.48$ 128.39$ 8.22$ 59.53$ 1,259.63
2045$ 967.84$ 61.09$ 4.25$ 60.72$ 1,093.89
Total$ 13,369.58$ 12,397.67$ 766.79$ 1,132.92$ 27,666.95
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –
COMMERCIAL –OFFICE (PER 1,000 SF) –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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – COMMERCIAL – OFFICE (PER 1,000 SF)
PRINCIPAL ASSESSMENT: $12,154.16
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – COMMERCIAL – OFFICE
(PER 1,000 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 230.33$ 755.80$ 47.24$ 35.71$ 1,069.08
2024$ 242.61$ 739.64$ 46.30$ 36.42$ 1,064.97
2025$ 255.59$ 726.05$ 45.31$ 37.15$ 1,064.10
2026$ 278.17$ 711.75$ 44.27$ 37.89$ 1,072.07
2027$ 293.91$ 694.75$ 43.13$ 38.65$ 1,070.44
2028$ 319.95$ 676.79$ 41.94$ 39.42$ 1,078.11
2029$ 336.89$ 657.23$ 40.65$ 40.21$ 1,074.98
2030$ 360.26$ 636.63$ 39.32$ 41.01$ 1,077.22
2031$ 389.08$ 614.59$ 37.88$ 41.83$ 1,083.38
2032$ 420.67$ 590.77$ 36.34$ 42.67$ 1,090.45
2033$ 448.69$ 565.00$ 34.71$ 43.52$ 1,091.93
2034$ 487.01$ 537.51$ 32.98$ 44.40$ 1,101.90
2035$ 515.83$ 507.66$ 31.10$ 45.28$ 1,099.87
2036$ 558.41$ 476.04$ 29.12$ 46.19$ 1,109.75
2037$ 597.92$ 441.27$ 26.99$ 47.11$ 1,113.29
2038$ 638.63$ 404.03$ 24.71$ 48.05$ 1,115.42
2039$ 679.33$ 364.24$ 22.28$ 49.02$ 1,114.87
2040$ 733.79$ 321.91$ 19.71$ 50.00$ 1,125.41
2041$ 779.14$ 276.19$ 16.93$ 51.00$ 1,123.26
2042$ 842.42$ 226.90$ 14.01$ 52.02$ 1,135.36
2043$ 898.87$ 173.60$ 10.84$ 53.06$ 1,136.37
2044$ 966.80$ 116.72$ 7.48$ 54.12$ 1,145.11
2045$ 879.85$ 55.53$ 3.86$ 55.20$ 994.45
Total$ 12,154.16$ 11,270.61$ 697.08$ 1,029.92$ 25,151.78
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –
COMMERCIAL –HOSPITALITY (PER 1,000 SF) –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 saleof the property.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – COMMERCIAL – HOSPITALITY (PER 1,000 SF)
PRINCIPAL ASSESSMENT: $12,761.87
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – COMMERCIAL –
HOSPITALITY(PER 1,000 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 241.85$ 793.59$ 49.60$ 37.49$ 1,122.53
2024$ 254.75$ 776.62$ 48.61$ 38.24$ 1,118.22
2025$ 268.37$ 762.36$ 47.57$ 39.01$ 1,117.30
2026$ 292.07$ 747.34$ 46.48$ 39.79$ 1,125.68
2027$ 308.61$ 729.49$ 45.28$ 40.58$ 1,123.96
2028$ 335.95$ 710.63$ 44.04$ 41.39$ 1,132.01
2029$ 353.73$ 690.09$ 42.68$ 42.22$ 1,128.73
2030$ 378.27$ 668.46$ 41.28$ 43.07$ 1,131.08
2031$ 408.53$ 645.32$ 39.77$ 43.93$ 1,137.55
2032$ 441.70$ 620.31$ 38.16$ 44.80$ 1,144.98
2033$ 471.12$ 593.25$ 36.45$ 45.70$ 1,146.53
2034$ 511.36$ 564.39$ 34.63$ 46.62$ 1,156.99
2035$ 541.62$ 533.04$ 32.65$ 47.55$ 1,154.86
2036$ 586.33$ 499.84$ 30.57$ 48.50$ 1,165.24
2037$ 627.82$ 463.33$ 28.34$ 49.47$ 1,168.95
2038$ 670.56$ 424.23$ 25.94$ 50.46$ 1,171.19
2039$ 713.29$ 382.46$ 23.40$ 51.47$ 1,170.61
2040$ 770.48$ 338.01$ 20.69$ 52.50$ 1,181.68
2041$ 818.10$ 290.00$ 17.78$ 53.55$ 1,179.43
2042$ 884.55$ 238.25$ 14.71$ 54.62$ 1,192.13
2043$ 943.81$ 182.28$ 11.39$ 55.71$ 1,193.19
2044$ 1,015.14$ 122.55$ 7.85$ 56.82$ 1,202.37
2045$ 923.84$ 58.31$ 4.06$ 57.96$ 1,044.17
Total$ 12,761.87$ 11,834.14$ 731.93$ 1,081.42$ 26,409.36
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –
COMMERCIAL –INSTITUTIONAL (PER 1,000 SF) –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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – COMMERCIAL – INSTITUTIONAL(PER 1,000 SF)
PRINCIPAL ASSESSMENT: $11,546.45
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town Councilin the annual service plan update for the District. More information about the
assessments, including the amounts and due dates, may be obtained from the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – COMMERCIAL –
INSTITUTIONAL(PER 1,000 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 218.82$ 718.01$ 44.88$ 33.92$ 1,015.62
2024$ 230.48$ 702.65$ 43.98$ 34.60$ 1,011.72
2025$ 242.81$ 689.75$ 43.04$ 35.29$ 1,010.89
2026$ 264.26$ 676.16$ 42.05$ 36.00$ 1,018.47
2027$ 279.22$ 660.01$ 40.97$ 36.72$ 1,016.92
2028$ 303.96$ 642.95$ 39.84$ 37.45$ 1,024.20
2029$ 320.04$ 624.37$ 38.62$ 38.20$ 1,021.23
2030$ 342.25$ 604.80$ 37.35$ 38.96$ 1,023.36
2031$ 369.62$ 583.86$ 35.99$ 39.74$ 1,029.21
2032$ 399.63$ 561.23$ 34.53$ 40.54$ 1,035.93
2033$ 426.26$ 536.75$ 32.97$ 41.35$ 1,037.33
2034$ 462.66$ 510.63$ 31.33$ 42.18$ 1,046.80
2035$ 490.04$ 482.28$ 29.54$ 43.02$ 1,044.88
2036$ 530.49$ 452.23$ 27.66$ 43.88$ 1,054.26
2037$ 568.03$ 419.20$ 25.64$ 44.76$ 1,057.63
2038$ 606.69$ 383.83$ 23.47$ 45.65$ 1,059.65
2039$ 645.36$ 346.03$ 21.17$ 46.57$ 1,059.12
2040$ 697.10$ 305.82$ 18.72$ 47.50$ 1,069.14
2041$ 740.19$ 262.38$ 16.09$ 48.45$ 1,067.10
2042$ 800.30$ 215.56$ 13.31$ 49.42$ 1,078.59
2043$ 853.93$ 164.92$ 10.30$ 50.40$ 1,079.55
2044$ 918.46$ 110.88$ 7.10$ 51.41$ 1,087.86
2045$ 835.86$ 52.76$ 3.67$ 52.44$ 944.72
Total$ 11,546.45$ 10,707.08$ 662.23$ 978.43$ 23,894.19
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –CONDO
(MORE THAN 3,600 SF) –BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that islocated 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 purchaserof 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 andsale, 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – CONDO (MORE THAN 3,600 SF)
PRINCIPAL ASSESSMENT: $60,770.81
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – CONDO (MORE THAN
3,600 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 1,151.67$ 3,779.00$ 236.19$ 178.53$ 5,345.39
2024$ 1,213.07$ 3,698.18$ 231.48$ 182.10$ 5,324.84
2025$ 1,277.93$ 3,630.27$ 226.53$ 185.74$ 5,320.48
2026$ 1,390.83$ 3,558.74$ 221.33$ 189.45$ 5,360.36
2027$ 1,469.55$ 3,473.76$ 215.64$ 193.24$ 5,352.19
2028$ 1,599.77$ 3,383.95$ 209.70$ 197.11$ 5,390.53
2029$ 1,684.44$ 3,286.16$ 203.26$ 201.05$ 5,374.91
2030$ 1,801.30$ 3,183.16$ 196.58$ 205.07$ 5,386.10
2031$ 1,945.38$ 3,072.95$ 189.40$ 209.17$ 5,416.90
2032$ 2,103.33$ 2,953.87$ 181.72$ 213.36$ 5,452.27
2033$ 2,243.45$ 2,825.02$ 173.55$ 217.62$ 5,459.65
2034$ 2,435.07$ 2,687.55$ 164.89$ 221.98$ 5,509.48
2035$ 2,579.16$ 2,538.30$ 155.48$ 226.42$ 5,499.35
2036$ 2,792.06$ 2,380.18$ 145.58$ 230.94$ 5,548.76
2037$ 2,989.62$ 2,206.34$ 134.93$ 235.56$ 5,566.45
2038$ 3,193.13$ 2,020.14$ 123.54$ 240.27$ 5,577.09
2039$ 3,396.63$ 1,821.22$ 111.41$ 245.08$ 5,574.34
2040$ 3,668.95$ 1,609.57$ 98.54$ 249.98$ 5,627.04
2041$ 3,895.72$ 1,380.94$ 84.67$ 254.98$ 5,616.32
2042$ 4,212.12$ 1,134.52$ 70.06$ 260.08$ 5,676.79
2043$ 4,494.35$ 867.99$ 54.22$ 265.28$ 5,681.84
2044$ 4,834.01$ 583.59$ 37.38$ 270.59$ 5,725.57
2045$ 4,399.26$ 277.66$ 19.31$ 276.00$ 4,972.23
Total$ 60,770.81$ 56,353.05$ 3,485.40$ 5,149.62$ 125,758.88
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –CONDO
(2,500 SF TO 3,600 SF) –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 monthsis 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – CONDO (2,500 SF TO 3,600 SF)
PRINCIPAL ASSESSMENT: $37,677.90
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – CONDO (2,500 SF TO 3,600
SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 714.04$ 2,342.98$ 146.44$ 110.69$ 3,314.14
2024$ 752.11$ 2,292.87$ 143.52$ 112.90$ 3,301.40
2025$ 792.32$ 2,250.77$ 140.45$ 115.16$ 3,298.70
2026$ 862.31$ 2,206.42$ 137.23$ 117.46$ 3,323.42
2027$ 911.12$ 2,153.73$ 133.70$ 119.81$ 3,318.36
2028$ 991.86$ 2,098.05$ 130.01$ 122.21$ 3,342.13
2029$ 1,044.35$ 2,037.42$ 126.02$ 124.65$ 3,332.44
2030$ 1,116.80$ 1,973.56$ 121.88$ 127.14$ 3,339.38
2031$ 1,206.14$ 1,905.23$ 117.43$ 129.69$ 3,358.48
2032$ 1,304.06$ 1,831.40$ 112.67$ 132.28$ 3,380.41
2033$ 1,390.94$ 1,751.51$ 107.60$ 134.93$ 3,384.98
2034$ 1,509.74$ 1,666.28$ 102.23$ 137.63$ 3,415.88
2035$ 1,599.08$ 1,573.75$ 96.40$ 140.38$ 3,409.60
2036$ 1,731.08$ 1,475.71$ 90.26$ 143.19$ 3,440.23
2037$ 1,853.57$ 1,367.93$ 83.66$ 146.05$ 3,451.20
2038$ 1,979.74$ 1,252.49$ 76.60$ 148.97$ 3,457.79
2039$ 2,105.91$ 1,129.16$ 69.07$ 151.95$ 3,456.09
2040$ 2,274.75$ 997.93$ 61.09$ 154.99$ 3,488.77
2041$ 2,415.35$ 856.18$ 52.50$ 158.09$ 3,482.12
2042$ 2,611.52$ 703.41$ 43.44$ 161.25$ 3,519.61
2043$ 2,786.50$ 538.15$ 33.62$ 164.48$ 3,522.74
2044$ 2,997.09$ 361.82$ 23.18$ 167.76$ 3,549.86
2045$ 2,727.54$ 172.15$ 11.97$ 171.12$ 3,082.78
Total$ 37,677.90$ 34,938.89$ 2,160.95$ 3,192.77$ 77,970.50
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #1 –CONDO
(UNDER 2,500 SF)–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 fiduciaryin 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 andsale, 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 – CONDO (UNDER 2,500 SF)
PRINCIPAL ASSESSMENT: $36,462.49
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #1 – CONDO (UNDER 2,500 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 691.00$ 2,267.40$ 141.71$ 107.12$ 3,207.23
2024$ 727.84$ 2,218.91$ 138.89$ 109.26$ 3,194.90
2025$ 766.76$ 2,178.16$ 135.92$ 111.44$ 3,192.29
2026$ 834.50$ 2,135.25$ 132.80$ 113.67$ 3,216.22
2027$ 881.73$ 2,084.25$ 129.38$ 115.95$ 3,211.32
2028$ 959.86$ 2,030.37$ 125.82$ 118.27$ 3,234.32
2029$ 1,010.66$ 1,971.69$ 121.96$ 120.63$ 3,224.94
2030$ 1,080.78$ 1,909.90$ 117.95$ 123.04$ 3,231.66
2031$ 1,167.23$ 1,843.77$ 113.64$ 125.50$ 3,250.14
2032$ 1,262.00$ 1,772.32$ 109.03$ 128.01$ 3,271.36
2033$ 1,346.07$ 1,695.01$ 104.13$ 130.57$ 3,275.79
2034$ 1,461.04$ 1,612.53$ 98.93$ 133.19$ 3,305.69
2035$ 1,547.49$ 1,522.98$ 93.29$ 135.85$ 3,299.61
2036$ 1,675.24$ 1,428.11$ 87.35$ 138.57$ 3,329.26
2037$ 1,793.77$ 1,323.80$ 80.96$ 141.34$ 3,339.87
2038$ 1,915.88$ 1,212.09$ 74.12$ 144.16$ 3,346.25
2039$ 2,037.98$ 1,092.73$ 66.85$ 147.05$ 3,344.60
2040$ 2,201.37$ 965.74$ 59.12$ 149.99$ 3,376.22
2041$ 2,337.43$ 828.57$ 50.80$ 152.99$ 3,369.79
2042$ 2,527.27$ 680.71$ 42.04$ 156.05$ 3,406.07
2043$ 2,696.61$ 520.79$ 32.53$ 159.17$ 3,409.10
2044$ 2,900.41$ 350.15$ 22.43$ 162.35$ 3,435.34
2045$ 2,639.55$ 166.60$ 11.59$ 165.60$ 2,983.34
Total$ 36,462.49$ 33,811.83$ 2,091.24$ 3,089.77$ 75,455.33
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #2 –VILLA –
WEST RESIDENTIAL (MORE THAN 3,600 SF) –BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
Aperson 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), orChapter 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL (MORE THAN 3,600 SF)
PRINCIPAL ASSESSMENT: $53,220.75
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL
(MORE THAN 3,600 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 986.84$ 3,318.21$ 233.49$ 149.01$ 4,687.55
2024$ 1,047.54$ 3,263.41$ 228.84$ 151.99$ 4,691.78
2025$ 1,096.49$ 3,205.16$ 223.95$ 155.03$ 4,680.62
2026$ 1,208.09$ 3,144.21$ 218.81$ 158.13$ 4,729.24
2027$ 1,270.75$ 3,069.97$ 213.18$ 161.29$ 4,715.19
2028$ 1,384.32$ 2,991.84$ 207.30$ 164.52$ 4,747.98
2029$ 1,452.85$ 2,906.71$ 200.94$ 167.81$ 4,728.30
2030$ 1,568.37$ 2,817.32$ 194.33$ 171.16$ 4,751.19
2031$ 1,695.64$ 2,720.81$ 187.23$ 174.59$ 4,778.27
2032$ 1,836.62$ 2,616.40$ 179.65$ 178.08$ 4,810.75
2033$ 1,959.97$ 2,503.24$ 171.57$ 181.64$ 4,816.42
2034$ 2,134.23$ 2,382.44$ 163.00$ 185.27$ 4,864.95
2035$ 2,261.50$ 2,250.88$ 153.70$ 188.98$ 4,855.07
2036$ 2,441.64$ 2,111.44$ 143.91$ 192.76$ 4,889.75
2037$ 2,621.78$ 1,958.23$ 133.39$ 196.61$ 4,910.01
2038$ 2,807.79$ 1,793.70$ 122.13$ 200.55$ 4,924.17
2039$ 2,993.80$ 1,617.48$ 110.14$ 204.56$ 4,925.97
2040$ 3,232.68$ 1,429.56$ 97.41$ 208.65$ 4,968.29
2041$ 3,426.52$ 1,226.63$ 83.71$ 212.82$ 4,949.68
2042$ 3,724.14$ 1,007.89$ 69.26$ 217.08$ 5,018.37
2043$ 3,972.81$ 770.15$ 53.60$ 221.42$ 5,017.98
2044$ 4,278.26$ 516.53$ 36.96$ 225.85$ 5,057.60
2045$ 3,818.13$ 243.41$ 19.09$ 230.36$ 4,310.99
Total$ 53,220.75$ 49,865.59$ 3,445.61$ 4,298.14$ 110,830.10
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #2 –VILLA –
WEST RESIDENTIAL (2,500 SFTO 3,600 SF) –BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise conveyreal 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 firstgive 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 deedin 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL (2,500 SF TO 3,600 SF)
PRINCIPAL ASSESSMENT: $36,440.16
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town 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 the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL
(2,500 SF TO 3,600 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 675.69$ 2,271.97$ 159.87$ 102.03$ 3,209.56
2024$ 717.25$ 2,234.45$ 156.69$ 104.07$ 3,212.45
2025$ 750.76$ 2,194.57$ 153.34$ 106.15$ 3,204.81
2026$ 827.18$ 2,152.84$ 149.82$ 108.27$ 3,238.10
2027$ 870.08$ 2,102.00$ 145.96$ 110.44$ 3,228.48
2028$ 947.84$ 2,048.51$ 141.94$ 112.64$ 3,250.93
2029$ 994.76$ 1,990.22$ 137.58$ 114.90$ 3,237.46
2030$ 1,073.86$ 1,929.02$ 133.06$ 117.20$ 3,253.13
2031$ 1,161.00$ 1,862.93$ 128.20$ 119.54$ 3,271.67
2032$ 1,257.53$ 1,791.45$ 123.00$ 121.93$ 3,293.91
2033$ 1,341.99$ 1,713.96$ 117.47$ 124.37$ 3,297.79
2034$ 1,461.31$ 1,631.25$ 111.61$ 126.86$ 3,331.02
2035$ 1,548.45$ 1,541.17$ 105.24$ 129.39$ 3,324.26
2036$ 1,671.79$ 1,445.70$ 98.54$ 131.98$ 3,348.00
2037$ 1,795.13$ 1,340.79$ 91.33$ 134.62$ 3,361.88
2038$ 1,922.49$ 1,228.14$ 83.62$ 137.31$ 3,371.57
2039$ 2,049.85$ 1,107.48$ 75.41$ 140.06$ 3,372.81
2040$ 2,213.41$ 978.81$ 66.70$ 142.86$ 3,401.78
2041$ 2,346.13$ 839.87$ 57.31$ 145.72$ 3,389.04
2042$ 2,549.91$ 690.10$ 47.43$ 148.63$ 3,436.07
2043$ 2,720.18$ 527.32$ 36.70$ 151.61$ 3,435.80
2044$ 2,929.32$ 353.67$ 25.30$ 154.64$ 3,462.93
2045$ 2,614.26$ 166.66$ 13.07$ 157.73$ 2,951.72
Total$ 36,440.16$ 34,142.89$ 2,359.21$ 2,942.93$ 75,885.19
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #2 –VILLA –
WEST RESIDENTIAL (UNDER 2,500SF) –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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL (UNDER 2,500 SF)
PRINCIPAL ASSESSMENT: $27,654.67
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town Councilin the annual service plan update for the District. More information about the
assessments, including the amounts and due dates, may be obtained from the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #2 – VILLA – WEST RESIDENTIAL
(UNDER 2,500 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 512.78$ 1,724.22$ 121.33$ 77.43$ 2,435.75
2024$ 544.32$ 1,695.74$ 118.91$ 78.98$ 2,437.95
2025$ 569.76$ 1,665.47$ 116.37$ 80.56$ 2,432.15
2026$ 627.75$ 1,633.80$ 113.70$ 82.17$ 2,457.42
2027$ 660.31$ 1,595.22$ 110.77$ 83.81$ 2,450.11
2028$ 719.32$ 1,554.62$ 107.72$ 85.49$ 2,467.15
2029$ 754.93$ 1,510.39$ 104.41$ 87.20$ 2,456.93
2030$ 814.96$ 1,463.94$ 100.98$ 88.94$ 2,468.82
2031$ 881.09$ 1,413.79$ 97.29$ 90.72$ 2,482.89
2032$ 954.35$ 1,359.54$ 93.35$ 92.53$ 2,499.77
2033$ 1,018.44$ 1,300.74$ 89.15$ 94.38$ 2,502.72
2034$ 1,108.99$ 1,237.97$ 84.70$ 96.27$ 2,527.93
2035$ 1,175.13$ 1,169.61$ 79.87$ 98.20$ 2,522.80
2036$ 1,268.73$ 1,097.15$ 74.78$ 100.16$ 2,540.82
2037$ 1,362.33$ 1,017.54$ 69.31$ 102.16$ 2,551.35
2038$ 1,458.99$ 932.05$ 63.46$ 104.21$ 2,558.70
2039$ 1,555.64$ 840.48$ 57.23$ 106.29$ 2,559.64
2040$ 1,679.77$ 742.83$ 50.62$ 108.42$ 2,581.63
2041$ 1,780.50$ 637.38$ 43.49$ 110.59$ 2,571.96
2042$ 1,935.14$ 523.72$ 35.99$ 112.80$ 2,607.66
2043$ 2,064.36$ 400.19$ 27.85$ 115.05$ 2,607.45
2044$ 2,223.08$ 268.40$ 19.20$ 117.36$ 2,628.04
2045$ 1,983.98$ 126.48$ 9.92$ 119.70$ 2,240.08
Total$ 27,654.67$ 25,911.25$ 1,790.42$ 2,233.41$ 57,589.74
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #3 –VILLA –
EAST RESIDENTIAL (MORE THAN 3,600 SF) –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 deedin 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 – VILLA – EAST RESIDENTIAL (MORE THAN 3,600 SF)
PRINCIPAL ASSESSMENT: $79,212.52
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town Councilin the annual service plan update for the District. More information about the
assessments, including the amounts and due dates, may be obtained from the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #3 – VILLA – EASTRESIDENTIAL
(MORE THAN 3,600 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 1,468.79$ 4,938.75$ 347.53$ 210.22$ 6,965.28
2024$ 1,559.13$ 4,857.18$ 340.60$ 214.42$ 6,971.33
2025$ 1,631.99$ 4,770.48$ 333.32$ 218.71$ 6,954.49
2026$ 1,798.10$ 4,679.77$ 325.67$ 223.08$ 7,026.62
2027$ 1,891.36$ 4,569.26$ 317.29$ 227.54$ 7,005.45
2028$ 2,060.38$ 4,452.98$ 308.55$ 232.10$ 7,054.01
2029$ 2,162.38$ 4,326.28$ 299.08$ 236.74$ 7,024.47
2030$ 2,334.32$ 4,193.24$ 289.24$ 241.47$ 7,058.27
2031$ 2,523.75$ 4,049.58$ 278.68$ 246.30$ 7,098.31
2032$ 2,733.58$ 3,894.20$ 267.38$ 251.23$ 7,146.38
2033$ 2,917.17$ 3,725.76$ 255.36$ 256.25$ 7,154.55
2034$ 3,176.54$ 3,545.96$ 242.61$ 261.38$ 7,226.50
2035$ 3,365.97$ 3,350.15$ 228.77$ 266.60$ 7,211.50
2036$ 3,634.08$ 3,142.61$ 214.20$ 271.94$ 7,262.83
2037$ 3,902.20$ 2,914.58$ 198.53$ 277.38$ 7,292.68
2038$ 4,179.05$ 2,669.70$ 181.78$ 282.92$ 7,313.45
2039$ 4,455.90$ 2,407.41$ 163.93$ 288.58$ 7,315.83
2040$ 4,811.44$ 2,127.72$ 144.98$ 294.35$ 7,378.50
2041$ 5,099.96$ 1,825.69$ 124.58$ 300.24$ 7,350.47
2042$ 5,542.92$ 1,500.12$ 103.09$ 306.24$ 7,452.38
2043$ 5,913.04$ 1,146.28$ 79.78$ 312.37$ 7,451.46
2044$ 6,367.66$ 768.79$ 55.01$ 318.62$ 7,510.08
2045$ 5,682.81$ 362.28$ 28.41$ 324.99$ 6,398.49
Total$ 79,212.52$ 74,218.78$ 5,128.37$ 6,063.67$ 164,623.34
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #3 –VILLA –
EAST RESIDENTIAL (2,500 SF TO 3,600 SF) –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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 – VILLA – EAST RESIDENTIAL (2,500 SF TO 3,600 SF)
PRINCIPAL ASSESSMENT: $53,864.51
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 ofthe assessment may be obtained from the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town Councilin the annual service plan update for the District. More information about the
assessments, including the amounts and due dates, may be obtained from the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the addressdescribed above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #3 – VILLA – EASTRESIDENTIAL
(2,500 SF TO 3,600 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 998.78$ 3,358.35$ 236.32$ 142.95$ 4,736.39
2024$ 1,060.21$ 3,302.88$ 231.61$ 145.81$ 4,740.51
2025$ 1,109.75$ 3,243.93$ 226.66$ 148.72$ 4,729.05
2026$ 1,222.71$ 3,182.24$ 221.45$ 151.70$ 4,778.10
2027$ 1,286.12$ 3,107.10$ 215.76$ 154.73$ 4,763.71
2028$ 1,401.06$ 3,028.03$ 209.81$ 157.82$ 4,796.73
2029$ 1,470.42$ 2,941.87$ 203.37$ 160.98$ 4,776.64
2030$ 1,587.34$ 2,851.40$ 196.68$ 164.20$ 4,799.63
2031$ 1,716.15$ 2,753.72$ 189.50$ 167.49$ 4,826.85
2032$ 1,858.83$ 2,648.05$ 181.82$ 170.83$ 4,859.54
2033$ 1,983.68$ 2,533.52$ 173.65$ 174.25$ 4,865.09
2034$ 2,160.05$ 2,411.25$ 164.98$ 177.74$ 4,914.02
2035$ 2,288.86$ 2,278.11$ 155.56$ 181.29$ 4,903.82
2036$ 2,471.18$ 2,136.98$ 145.65$ 184.92$ 4,938.72
2037$ 2,653.49$ 1,981.91$ 135.00$ 188.62$ 4,959.02
2038$ 2,841.75$ 1,815.40$ 123.61$ 192.39$ 4,973.15
2039$ 3,030.02$ 1,637.04$ 111.47$ 196.24$ 4,974.76
2040$ 3,271.78$ 1,446.85$ 98.59$ 200.16$ 5,017.38
2041$ 3,467.97$ 1,241.47$ 84.72$ 204.16$ 4,998.32
2042$ 3,769.19$ 1,020.08$ 70.10$ 208.25$ 5,067.62
2043$ 4,020.86$ 779.47$ 54.25$ 212.41$ 5,066.99
2044$ 4,330.01$ 522.78$ 37.40$ 216.66$ 5,106.85
2045$ 3,864.31$ 246.35$ 19.32$ 220.99$ 4,350.97
Total$ 53,864.51$ 50,468.77$ 3,487.29$ 4,123.30$ 111,943.87
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
SOLANAPUBLIC IMPROVEMENT DISTRICT–IMPROVEMENT AREA #3 –VILLA –
EAST RESIDENTIAL (UNDER 2,500 SF) –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 deedin 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.
1
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
THE TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 – VILLA – EASTRESIDENTIAL (UNDER 2,500 SF)
PRINCIPAL ASSESSMENT: $43,566.89
As the purchaser of the real property described above, you are obligated to pay
assessments to the Town of Westlake, 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 the Solana 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 the Town of Westlake. The
exact amount of each annual installment will be approved each year by the Town of Westlake
Town Councilin the annual service plan update for the District. More information about the
assessments, including the amounts and due dates, may be obtained from the Town of Westlake.
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.
_________________
1
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 Tarrant County when
updating for the Current Information of Obligation to Pay Improvement District Assessment.
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
DATE:DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
DATE: DATE:
2
SIGNATURE OF SELLER SIGNATURE OF SELLER\]
______________
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
\[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
3
Notary Public, State of Texas\]
______________
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 Tarrant County.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
\[The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
4
Notary Public, State of Texas\]
______________
4
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 Tarrant County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
ANNUAL INSTALLMENTS – IMPROVEMENT AREA #3 – VILLA – EASTRESIDENTIAL
(UNDER 2,500 SF)
Delinquency and Administrative
Due 1/31 Principal InterestPrepayment ReserveExpensesAnnual Installment
2023$ 807.83$ 2,716.31$ 191.14$ 115.62$ 3,830.90
2024$ 857.52$ 2,671.45$ 187.33$ 117.93$ 3,834.23
2025$ 897.59$ 2,623.76$ 183.33$ 120.29$ 3,824.97
2026$ 988.95$ 2,573.87$ 179.12$ 122.70$ 3,864.64
2027$ 1,040.25$ 2,513.10$ 174.51$ 125.15$ 3,853.00
2028$ 1,133.21$ 2,449.14$ 169.70$ 127.65$ 3,879.70
2029$ 1,189.31$ 2,379.45$ 164.49$ 130.21$ 3,863.46
2030$ 1,283.88$ 2,306.28$ 159.08$ 132.81$ 3,882.05
2031$ 1,388.06$ 2,227.27$ 153.27$ 135.47$ 3,904.07
2032$ 1,503.47$ 2,141.81$ 147.06$ 138.18$ 3,930.51
2033$ 1,604.45$ 2,049.17$ 140.45$ 140.94$ 3,935.00
2034$ 1,747.10$ 1,950.28$ 133.44$ 143.76$ 3,974.57
2035$ 1,851.28$ 1,842.59$ 125.82$ 146.63$ 3,966.33
2036$ 1,998.75$ 1,728.44$ 117.81$ 149.57$ 3,994.56
2037$ 2,146.21$ 1,603.02$ 109.19$ 152.56$ 4,010.98
2038$ 2,298.48$ 1,468.34$ 99.98$ 155.61$ 4,022.40
2039$ 2,450.75$ 1,324.08$ 90.16$ 158.72$ 4,023.70
2040$ 2,646.29$ 1,170.24$ 79.74$ 161.89$ 4,058.18
2041$ 2,804.98$ 1,004.13$ 68.52$ 165.13$ 4,042.76
2042$ 3,048.61$ 825.07$ 56.70$ 168.43$ 4,098.81
2043$ 3,252.17$ 630.45$ 43.88$ 171.80$ 4,098.30
2044$ 3,502.21$ 422.84$ 30.25$ 175.24$ 4,130.54
2045$ 3,125.54$ 199.25$ 15.63$ 178.74$ 3,519.17
Total$ 43,566.89$ 40,820.33$ 2,820.60$ 3,335.02$ 90,542.84
Notes:
ThefiguresshownaboveareestimatesonlyandsubjecttochangeinAnnualServicePlanUpdates.Changesin
AdministrativeExpenses,reservefundrequirements,interestearnings,orotheravailableoffsetscouldincreaseor
decrease the amounts shown.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment