HomeMy WebLinkAboutOrd 1035 Solana PID 2025 SAP and Assessment RollTOWN OF WESTLAKE, TEXAS
EPTEMBER
EXHIBIT A
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 1
INTRODUCTION
Capitalized terms used in this 2025 Annual Service Plan Update shall have the meanings set forth
in the 2024 Amended and Restated Service and Assessment Plan (the “A&R SAP”) or the
Development Agreement, Financing Agreement, and Reimbursement Agreements, as applicable.
The District was created pursuant to the PID Act by Resolution No. 14-07 on February 24, 2014,
by the Town Council to finance certain Authorized Improvements for the benefit of the property
in the District.
On January 15, 2015, the Town Council (1) approved the Service and Assessment Plan for the
District by adopting Ordinance No. 741 which approved the levy of Assessments for Assessed
Property within the District and approved the Assessment Roll; (2) approved the Financing
Agreement and Assessment Part A Reimbursement Agreement by adopting Ordinance No. 742;
and (3) issued the Series 2015 Bonds by adopting Ordinance No. 743 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 District.
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 Roll for 2017.
On January 29, 2018, the Town Council adopted Ordinance No. 843, which approved the 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 Plan and the Annual Service
Plan for Assessment Part B.
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.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 2
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.
On August 28, 2022, the Town Council adopted Ordinance No. 951, which approved the 2022
Annual Service Plan Update and updated the Assessment Roll for 2022.
On August 7, 2023, the Town Council adopted Ordinance No. 974, which approved the 2023
Annual Service Plan Update and updated the Assessment Roll for 2023.
On August 19, 2024, the Town Council adopted Ordinance No. 1003, which approved the 2024
Amended and Restated Service and Assessment Plan (the “A&R SAP”). The 2024 Amended and
Restated Service and Assessment Plan amended and restated the original Service and
Assessment Plan in its entirety for the purposes of (1) redeeming Series 2015 Bonds; (2)
terminating Reimbursement Agreement – Part A; (3) allocating Assessment Part A and
Assessment Part B to the Gas Well Pad Site; and (4) updating the Assessment Rolls for 2024.
The 2024 Amended and Restated Service and Assessment Plan identified the Authorized
Improvements to be constructed for the benefit of the Assessed Parcels within the District, the
costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized
Improvements, and the manner of assessing the property in the District for the costs of the
Authorized Improvements. Pursuant to the PID Act, the 2024 Amended and Restated Service and
Assessment Plan must be reviewed and updated annually. This document is the Annual Service
Plan Update for 2025.
The Town Council also adopted an Assessment Roll identifying the Assessments on each Lot
within the District, based on the method of assessment identified in the Service and Assessment
Plan. This 2025 Annual Service Plan Update also updates the Assessment Roll for 2025.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 3
DEFINITIONS
“Annual Service Plan Update” means an update to the 2024 Amended and Restated Service and
Assessment Plan prepared no less frequently than annually by the Administrator and approved
by the Town Council.
“Assessment Part A Reimbursement Agreement” means that certain Reimbursement
Agreement, effective January 15, 2015 entered into by and between the Town and Developer, in
which the Developer, either directly or through affiliates, agrees to construct Improvement
Project A, and to fund certain Actual Costs of Improvement Project A, and the Town agrees to
reimburse the Developer for Actual Costs of Improvement Project A paid solely from the revenue
collected by the Town from the Assessment Part A, including Annual Installments Part A.
“Assessment Part A Reimbursement Obligation” means an amount not to exceed $29,575,000
secured by the Assessment Part A to be paid to the Developer pursuant to the Assessment Part
A Reimbursement Agreement. As of the approval of this 2025 Annual Service Plan Update, the
outstanding balance of the Assessment Part A Reimbursement Obligation is $0.
“Assessment Part B Reimbursement Agreement” means that certain Reimbursement
Agreement, effective January 29, 2018 entered into by and between the Town and Developer, in
which the Developer, either directly or through affiliates, agrees to construct Improvement
Project B, and to fund certain Actual Costs of Improvement Project B, and the Town agrees to
reimburse the Developer for Actual Costs of Improvement Project B paid solely from the revenue
collected by the Town from the Assessment Part B, including Annual Installments Part B.
“Assessment Part B Reimbursement Obligation” means an amount not to exceed $2,425,000
secured by the Assessment Part B to be paid to the Developer pursuant to the Assessment Part
B Reimbursement Agreement. The Annual Installments for Assessment Part B Reimbursement
Obligation are shown on Exhibit B-2. The portion of the Annual Installment Part B for the
Assessment Part B Reimbursement Obligation is shown on Exhibit B-2 and is subordinate to any
PID Bonds secured by Assessment Part B, if and when issued. As of the approval of this 2025
Annual Service Plan Update, the outstanding balance of the Assessment Part B Reimbursement
Obligation is $1,546,351.97.
“Financing Agreement” means that certain Construction, Funding and Acquisition Agreement
dated as of January 15, 2015 and approved by Ordinance No. 742.
“Improvement Area #1 Assessment Roll” means the Assessment Roll for the Improvement Area
#1 Assessed Property, as updated, modified, or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 4
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #1
Assessment Roll is included in this 2025 Annual Service Plan Update as Exhibit A-1.
“Improvement Area #2 Assessment Roll” means the Assessment Roll for the Improvement Area
#2 Assessed Property, as updated, modified, or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #2
Assessment Roll is included in this 2025 Annual Service Plan Update as Exhibit A-2.
“Improvement Area #3 Assessment Roll” means the Assessment Roll for the Improvement Area
#3 Assessed Property, as updated, modified, or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #3
Assessment Roll is included in this 2025 Annual Service Plan Update as Exhibit A-3.
“Improvement Area #3 Initial Parcel” all of the Improvement Area #3 Assessed Property against
which Improvement Area #3’s allocable portion of Assessment Part A and Assessment Part B is
levied, as shown on the Improvement Area #3 Assessment Roll.
“Land Use Class” means a classification of final building Lots with similar characteristics (e.g. lot
size, home product, use, etc.), as determined by the Administrator and confirmed by the Town
Council. Equivalent Units are calculated for each Land Use Class in each Improvement Area based
on the relative average construction cost per unit of each Land Use Class. The average
construction cost for each Land Use Class in each Improvement Area is calculated based on the
estimated average square feet of each unit of residential Land Use Class or 1,000 square feet of
each commercial Land Use Class, as applicable, and the estimated average construction cost per
square foot of each Land Use Class.
“Land Use Class 1” means a Lot within Improvement Area #1 marketed to homebuilders as a
condo with more than 3,600 square feet. The buyer disclosure for Land Use Class 1 is attached as
Exhibit E.
“Land Use Class 2” means a Lot within Improvement Area #1 marketed to homebuilders as a
condo with between 2,500 and 3,600 square feet. The buyer disclosure for Land Use Class 2 is
attached as Exhibit E.
“Land Use Class 3” means a Lot within Improvement Area #1 marketed to homebuilders as a
condo with less than 2,500 square feet. The buyer disclosure for Land Use Class 3 is attached as
Exhibit E.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 5
“Land Use Class 4” means a Lot within Improvement Area #2 marketed to homebuilders as a villa
– west residential with more than 3,600 square feet. The buyer disclosure for Land Use Class 4 is
attached as Exhibit E.
“Land Use Class 5” means a Lot within Improvement Area #2 marketed to homebuilders as a villa
– west residential with between 2,500 and 3,600 square feet. The buyer disclosure for Land Use
Class 5 is attached as Exhibit E.
“Land Use Class 6” means a Lot within Improvement Area #2 marketed to homebuilders as a villa
– west residential with less than 2,500 square feet. The buyer disclosure for Land Use Class 6 is
attached as Exhibit E.
“Land Use Class 7” means a Lot within Improvement Area #3 marketed to homebuilders as a villa
– east residential with more than 3,600 square feet. Since there is no longer any Assessed
Property in Improvement Area #3 classified as Land Use Class 7, this Land Use Class is obsolete.
“Land Use Class 8” means a Lot within Improvement Area #3 marketed to homebuilders as a villa
– east residential with less than 2,500 square feet. Since there is no longer any Assessed Property
in Improvement Area #3 classified as Land Use Class 8, this Land Use Class is obsolete.
“Land Use Class 9” means a Lot within Improvement Area #3 marketed to homebuilders as a villa
– east residential with less than 2,500 square feet. Since there is no longer any Assessed Property
in Improvement Area #3 classified as Land Use Class 9, this Land Use Class is obsolete.
“Land Use Class 10” means an Assessed Property within Improvement Area #1 intended for use
as retail, as provided by the Developer. Since there is no longer any Assessed Property in
Improvement Area #1 classified as Land Use Class 10, this Land Use Class is obsolete.
“Land Use Class 11” means an Assessed Property within Improvement Area #1 intended for use
as office space, as provided by the Developer. All Lots classified as Land Use Class 11 have been
prepaid.
“Land Use Class 12” means an Assessed Property within Improvement Area #1 intended for use
as hospitality, as provided by the Developer. All Lots classified as Land Use Class 12 have been
prepaid.
“Land Use Class 13” means an Assessed Property within Improvement Area #1 intended for use
as institutional, as provided by the Developer. Since there is no longer any Assessed Property in
Improvement Area #1 classified as Land Use Class 13, this Land Use Class is obsolete.
“Land Use Class 14” means an Assessed Property within Improvement Area #1 intended for use
as retail, office space, hospitality, or institutional, as provided by the Developer. The buyer
disclosure for Land Use Class 14 is attached as Exhibit E.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 6
“Non-Assessed Property” means the Land Use Class of a Property ID assigned to a Parcel by
Tarrant Appraisal District to be used for another taxing jurisdiction that the County does not
collect for.
PARCEL SUBDIVISION
Improvement Area #1
The Replat of Westlake Entrada Primrose Lots 2R, & 3R, Block M was filed and recorded
with the County on September 2, 2016, which consisted of 2 commercial Lots.
The Replat of Westlake Entrada Block L, Lot 6 & Block S, Lot 2X was filed and recorded
with the County on September 19, 2017, which consisted of 1 commercial Lot 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, Block C, Lot 1, 2X, Block D, Lots 1, 15-17, 18X, Block E, Lots 1-5, 6X, Block F,
Lots 1-5, 6X, Block G, Lots 1-5, 6X, Block H, Lot 1, Block J, Lots 1- 5, Block K, Lots 1-5, Block
L, Lots 1-3, 4X, 5X, Block P, Lot 1, Block Q, Lot 1, Block R was filed and recorded with the
County on June 27, 2018.
The Replat of Westlake Entrada Lots 1R and 1RX, Block L, was filed and recorded with the
County on September 28, 2023, which consisted of 1 commercial Lot and 1 Lot of Non-
Benefited Property.
The Amended Plat of Westlake Entrada Lots 1R1, 3R, 4R, and 5R, Block B was filed and
recorded with the County on March 3, 2024, which consisted of 2 residential Lots, 1 Lot
containing both residential and commercial uses, and 1 Lot of Non-Benefited Property.
The Replat of Westlake Entrada Lots 1R, 2R, 3 & 4 Block P was filed and recorded with the
County on August 18, 2024, and is attached hereto as Exhibit C.
See the anticipated Land Use Class summary within Improvement Area #1 below:
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 7
Improvement Area #2
The Replat of Westlake Entrada Block B, Lot 1R, Block I, Lots 1 & 2X, Block J, Lots 11-16,
17X, 18X, 19X, & 20X was filed and recorded with the County on April 11, 2017, which
consisted of 6 residential Lots, and 4 Lots of Non-Benefited Property.
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 consisted of 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 consisted of 14 residential Lot, 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 1R, 2-10, and 2X Block D was filed and recorded with
the County on February 10, 2022, which consisted of 11 residential Lots.
The Replat of Westlake Entrada Lots 1R1, 1R2 & 1R3, Block H, was filed and recorded with
the County on May 22, 2022, and consists of 3 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 1R to 15R, Block F, was filed and recorded with the
County on January 12, 2023, consisting of 15 residential lots.
The Replat of Westlake Entrada Lots 4R to 13R, Block H, was filed and recorded with the
County on September 28, 2023, consisting of 10 residential lots.
Land Use Class Units/Sq. Ft.
Footnotes:
Improvement Area #1
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 8
The Replat of Westlake Entrada Lots 1R to 7R, & 8RX, Block J, was filed and recorded with
the County on September 28, 2023, consisting of 7 residential Lots, and 1 Lot of Non-
Benefited Property.
See the completed Land Use Class summary within Improvement Area #2 below:
Improvement Area #3
No final plats have been approved for Improvement Area #3.
See the anticipated Land Use Class summary within Improvement Area #3 below:
See Exhibit D for the Land Use Classification map.
LOT AND HOME SALES
Improvement Area #1
Per information available on the Tarrant Appraisal District website, the lot ownership
composition is provided below:
Land Use Class Units/Sq. Ft.
Total 129
Footnotes:
Improvement Area #2
Land Use Class Units/Sq. Ft.
Land Use Class 7 21
Land Use Class 8 23
Land Use Class 9 36
Total 80
Improvement Area #3
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 9
• Developer Owned:
o Land Use Class 1: 38 units
o Land Use Class 2: 111 units
o Land Use Class 3: 0 units
o Land Use Class 10: 0 square feet
o Land Use Class 11: 0 square feet
o Land Use Class 12: 79,426 square feet 1
o Land Use Class 13: 0 square feet
o Land Use Class 14: 792,063 square feet
• Homebuilder Owned:
o Land Use Class 1: 0 units
o Land Use Class 2: 3 units
o Land Use Class 3: 7 units
o Land Use Class 10: 0 square feet
o Land Use Class 11: 0 square feet
o Land Use Class 12: 0 square feet
o Land Use Class 13: 0 square feet
o Land Use Class 14: 7,000 square feet
• End-User Owned:
o Land Use Class 1: 0 units
o Land Use Class 2: 0 units
o Land Use Class 3: 0
o Land Use Class 10: 0 square feet
o Land Use Class 11: 0 square feet
o Land Use Class 12: 0 square feet
o Land Use Class 13: 0 square feet
o Land Use Class 14: 171,469 square feet
Improvement Area #2
Per information available on the Tarrant Appraisal District website, the lot ownership
composition is provided below:
• Developer Owned:
o Land Use Class 4: 26 Lots
o Land Use Class 5: 0 Lots
1 Inclusive of 79,426 prepaid square feet.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 10
o Land Use Class 6: 0 Lots
• Homebuilder Owned:
o Land Use Class 4: 52 Lots
o Land Use Class 5: 1 Lot
o Land Use Class 6: 0 Lots
• End-User Owner:
o Land Use Class 4: 27 Lots
o Land Use Class 5: 18 Lots
o Land Use Class 6: 5 Lots
Improvement Area #3
Per information available on the Tarrant Appraisal District website, the entirety of Improvement
Area #3 is owned by the Developer. The lot ownership composition is provided below:
• Developer Owned:
o Land Use Class 7: 21 Lots
o Land Use Class 8: 23 Lots
o Land Use Class 9: 36 Lots
See Exhibit E for the buyer disclosures.
AUTHORIZED IMPROVEMENTS
Improvement Project A
Per the Quarterly Report dated March 31, 2025, all improvements associated with Improvement
Project A in Improvement Area #1 and Improvement Area #2 are funded by proceeds from the
2015 Bonds and are substantially complete with the remaining incomplete improvement being
the installation of Iron Benches. Iron Benches are awaiting input and direction from the Town of
Westlake which ties to the open space concept for the Plaza, which is on hold. Improvement Area
#3 Authorized Improvements, which are funded by proceeds from Reimbursement Agreement –
Part A, are partially constructed, and currently on hold with no known anticipated completion
date.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 11
Improvement Project B
Per the Quarterly Report dated March 31, 2025, improvements associated with Improvement
Project B as listed in the 2024 Amended and Restated Service and Assessment Plan are
substantially complete, and they received a certificate of completion from the Town of Westlake
on February 14, 2023.
Reimbursement Agreement - Part A
Authorized Improvements [c]
Improvement Project A
Road 3,767,430$ 1,083,177$ 4,850,607$ 622,470$ 4,850,607$ 88.63%On Hold
Water Distribution System 890,040 (668,035) 222,005 171,680 222,005 56.39%On Hold
Sanitary Sewer 1,531,196 (1,298,927) 232,269 350,100 232,269 39.88%On Hold
Storm Drainage 1,154,306 (1,154,306) - 579,566 - 0.00%On Hold
Landscaping 1,830,501 (661,929) 1,168,572 - 1,168,572 100.00%On Hold
Duct Bank 640,304 (142,838) 497,466 93,650 497,466 84.16%On Hold
17,934,637$ (1)$ 17,934,637$ 2,391,362$ 17,934,637$ 88.23%
Bond Issuance Costs
Capitalized Interest 3,216,750$ -$ 3,216,750$ 218,620$ 3,435,370$ 100.00%
Debt Service Reserve 2,074,313 - 2,074,313 340,000 2,414,313 100.00%
Other Bond Issuance Related Costs 2,949,301 - 2,949,301 450,018 3,399,319 100.00%
8,240,364$ -$ 8,240,364$ 1,008,638$ 9,249,002$ 100.00%
Total 26,175,001$ (1)$ 26,175,001$ 3,400,000$ 27,183,639$
Footnotes:
Anticipated
Completion
Date
Budget as of
3/31/2022[b]
Series 2015 Bonds
Original Budget[a]RevisionsOriginal
Budget[a]
%Spent to Date
Reimbursement Agreement - Part B
Improvement Project B
Parking Facility 6,160,000$ 6,160,000$ 100.00% 2/14/2023
6,160,000$ 6,160,000$ 100.00%
Bond Issuance Costs
Capitalized Interest 170,000$ 170,000$ 100.00%
Debt Service Reserve 242,500 242,500 100.00%
Other Bond Issuance Related Costs 242,500 242,500 100.00%
655,000$ 655,000$ 100.00%
Total 6,815,000$ 6,815,000$
Footnotes:
Completion
DateSpent to Date %Original Budget[a]
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 12
OUTSTANDING ASSESSMENT
Improvement Area #1
Net of the principal bond payment due September 1, Improvement Area #1 has an outstanding
Assessment of $13,760,097.96, of which $12,291,945.95 is attributable to the 2015 Bonds and
$1,468,152.01 is attributable to the Assessment Part B Reimbursement Obligation. The
outstanding Assessment is less than the $12,946,666.72 in outstanding 2015 PID Bonds
attributable to Improvement Area #1 due to prepayment of Assessment for which 2015 Bonds
have not yet been redeemed.
Improvement Area #2
Net of the principal bond payment due September 1, Improvement Area #2 has an outstanding
Assessment of $3,782,224.91. The outstanding Assessment is less than the $3,813,846.91 in
outstanding 2015 Bonds attributable to Improvement Area #2 due to prepayment of Assessment
for which 2015 PID Bonds have not yet been redeemed.
Improvement Area #3
Net of the principal bond payment due September 1, Improvement Area #3 has an outstanding
Assessment of $3,299,486.37.
ANNUAL INSTALLMENT DUE 1/31/2026
Improvement Area #1
2015 Bonds Principal and Interest – The total principal and interest required for the
Annual Installment is $1,145,257.23.
2015 Bonds Delinquency and Prepayment Reserve – The total Delinquency and
Prepayment Reserve Requirement, as defined in the Indenture, is equal to $1,103,300.00
and has not been met. As such, the Delinquency and Prepayment Reserve Account will be
funded with the Delinquency and Prepayment Reserve Rate on the outstanding
Assessments, resulting in an amount due of $64,733.33.
Assessment Part B Reimbursement Obligation Principal and Interest – The total principal
and interest required for the Annual Installment is $133,235.39.
Administrative Expenses – The cost of administering the District and collecting the Annual
Installments shall be paid for on a pro rata basis by each Parcel based on the amount of
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 13
outstanding Assessment remaining on the Parcel. The total Administrative Expenses
budgeted for the Annual Installment is $54,264.95. See below for a table depicting the
calculation of Administrative Expenses for the Annual Installment due January 31, 2026.
Improvement Area #2
Principal and Interest – The total principal and interest required for the Annual Installment
is $337,371.45.
Total Administrative Expenses 54,264.95$
Improvement Area #1
Administrative Expenses Breakdown
Series 2015 Bonds
Principal 335,606.52$
Interest 809,650.72$
Delinquency and Prepayment Reserve 64,733.33$
1,209,990.57$
Assessment Part B Reimbursement Obligation
Principal 42,696.48$
Interest 90,538.91$
133,235.39$
Administrative Expenses 54,264.95$
Total Annual Installment 1,397,490.90$
Improvement Area #1
Due January 31, 2026
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 14
Delinquency and Prepayment Reserve – The total Delinquency and Prepayment Reserve
Requirement, as defined in the Indenture, is equal to $1,103,300.00 and has not been
met. As such, the Delinquency and Prepayment Reserve Account will be funded with
Delinquency and Prepayment Reserve Rate on the outstanding Assessments, resulting in
a Delinquency and Prepayment Reserve amount due of $19,069.23.
Administrative Expenses – The cost of administering the District 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 Administrative Expenses
budgeted for the Annual Installment is $14,146.20. See below for a table depicting the
calculation of Administrative Expenses for the Annual Installment due January 31, 2026.
Improvement Area #3
Principal and Interest – The total principal and interest required for the Annual Installment
is $291,871.31.
Total Administrative Expenses 14,146.20$
Improvement Area #2
Administrative Expenses Breakdown
Series 2015 Bonds
Principal 98,863.43$
Interest 238,508.02$
337,371.45$
Delinquency and Prepayment Reserve 19,069.23$
Administrative Expenses 14,146.20$
Total Annual Installment 370,586.89$
Improvement Area #2
Due January 31, 2026
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 15
Delinquency and Prepayment Reserve – The total Delinquency and Prepayment Reserve
Requirement, as defined in the Indenture, is equal to $1,103,300.00 and has not been
met. As such, the Delinquency and Prepayment Reserve Account will be funded with
Delinquency and Prepayment Reserve Rate on the outstanding Assessments, resulting in
a Delinquency and Prepayment Reserve amount due of $16,497.43.
Administrative Expenses – The cost of administering the District 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 Administrative Expenses
budgeted for the Annual Installment is $12,238.35. See below for a table depicting the
calculation of Administrative Expenses for the Annual Installment due January 31, 2026.
See Exhibit B-1 for the projected debt service schedule for the 2015 Bonds as provided by
FMSBonds, Inc. following the October 15, 2024, redemption of the 2015 Bonds, and see Exhibit
B-2 for the estimated Annual Installment Schedule for the Assessment Part B.
Total Administrative Expenses 12,238.35$
Improvement Area #3
Administrative Expenses Breakdown
Series 2015 Bonds
Principal 85,530.06$
Interest 206,341.26$
291,871.31$
Delinquency and Prepayment Reserve 16,497.43$
Administrative Expenses 12,238.35$
Total Annual Installment 320,607.10$
Improvement Area #3
Due January 31, 2026
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 16
PREPAYMENT OF ASSESSMENTS IN FULL
Improvement Area #1
The following is a list of all Parcels or Lots that made a Prepayment in full within Improvement
Area #1.
Improvement Area #2
The following is a list of all Parcels or Lots that made a Prepayment in full within Improvement
Area #2.
Improvement Area #3
No full prepayments of Assessments have occurred within Improvement Area #3.
PARTIAL PREPAYMENT OF ASSESSMENTS
Improvement Area #1
No partial prepayments of Assessments have occurred within Improvement Area #1.
Improvement Area #2
The following is a list of all Parcels or Lots that made a partial prepayment within Improvement
Area #2
Footnotes:
Improvement Area #1 - Full Prepayments
Date of
PrepaymentLand Use ClassProperty AddressProperty ID Block and Lot
Footnotes:
Property Address Block and Lot Land Use Class Date of
Prepayment
Improvement Area #2 - Full Prepayments
Property ID
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 17
Improvement Area #3
No partial prepayments of Assessments have occurred within Improvement Area #3.
EXTRAORDINARY OPTIONAL REDEMPTIONS
2015 Bonds
See extraordinary optional redemptions below:
Per notice posted October 15, 2024, $2,320,000 of the 2015 Bonds were redeemed in
October 15, 2024, extraordinary optional redemption.
SERVICE PLAN – FIVE YEAR BUDGET FORECAST
The PID Act requires the annual indebtedness and projected costs for the Authorized
Improvements to be reviewed and updated in the Annual Service Plan Update, and the projection
shall cover a period of not less than five years.
Footnotes:
Improvement Area #2 - Partial Prepayments
Amount
PrepaidLand Use Class Date of
PrepaymentBlock and LotProperty AddressProperty ID
Annual Installment Due 1/31/2026 1/31/2027 1/31/2028 1/31/2029 1/31/2030
Series 2015 Bonds
Principal 335,606.52$ 358,195.42$ 380,784.32$ 403,373.22$ 429,189.10$
Interest 809,650.72$ 789,094.82$ 767,155.35$ 743,832.31$ 719,125.70$
Delinquency and Prepayment Reserve 64,733.33$ 63,055.30$ 61,264.32$ 59,360.40$ 57,343.54$
(1)1,209,990.57$ 1,210,345.53$ 1,209,203.99$ 1,206,565.93$ 1,205,658.34$
Reimbursement Agreement Part B
Principal 42,696.48$ 45,196.36$ 47,842.60$ 50,643.79$ 53,608.98$
Interest 90,538.91$ 88,039.03$ 85,392.78$ 82,591.60$ 79,626.40$
(2)133,235.39$ 133,235.39$ 133,235.39$ 133,235.39$ 133,235.39$
Administrative Expenses (3)54,264.95$ 54,323.91$ 55,410.39$ 56,518.60$ 57,648.97$
Total Annual Installment (4) = (1) + (2) + (3)1,397,490.90$ 1,397,904.84$ 1,397,849.77$ 1,396,319.91$ 1,396,542.70$
Improvement Area #1
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 18
ASSESSMENT ROLL
The list of current Parcels or Lots within the District, the corresponding total Assessments, and
current Annual Installment are shown on the Assessment Rolls attached hereto as Exhibit A-1,
Exhibit A-2 and Exhibit A-3. The Parcels or Lots shown on the Assessment Rolls will receive the
bills for the 2025 Annual Installments which will be delinquent if not paid by January 31, 2026.
The list of Parcels shown on the Assessment Roll is subject to change based on the final certified
rolls provided by the County prior to billing.
Annual Installment Due 1/31/2026 1/31/2027 1/31/2028 1/31/2029 1/31/2030
Series 2015 Bonds
Principal 98,863.43$ 105,517.70$ 112,171.97$ 118,826.24$ 126,431.12$
Interest 238,508.02$ 232,452.64$ 225,989.68$ 219,119.15$ 211,841.04$
(1)337,371.45$ 337,970.34$ 338,161.65$ 337,945.38$ 338,272.16$
Delinquency and Prepayment Reserve (2)19,069.23$ 18,574.92$ 18,047.33$ 17,486.47$ 16,892.34$
Administrative Expenses (3)14,146.20$ 14,159.08$ 14,442.26$ 14,731.11$ 15,025.73$
Total Annual Installment (4) = (1) + (2) + (3)370,586.89$ 370,704.33$ 370,651.24$ 370,162.96$ 370,190.22$
Improvement Area #2
Annual Installment Due 1/31/2026 1/31/2027 1/31/2028 1/31/2029 1/31/2030
Series 2015 Bonds
Principal 85,530.06$ 91,286.89$ 97,043.72$ 102,800.55$ 109,379.78$
Interest 206,341.26$ 201,102.54$ 195,511.22$ 189,567.29$ 183,270.76$
(1)291,871.31$ 292,389.43$ 292,554.94$ 292,367.84$ 292,650.54$
Delinquency and Prepayment Reserve (2)16,497.43$ 16,069.78$ 15,613.35$ 15,128.13$ 14,614.13$
Administrative Expenses (3)12,238.35$ 12,249.50$ 12,494.49$ 12,744.38$ 12,999.26$
Total Annual Installment (4) = (1) + (2) + (3)320,607.10$ 320,708.71$ 320,662.77$ 320,240.35$ 320,263.93$
Improvement Area #3
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 19
EXHIBIT A-1 – IMPROVEMENT AREA #1 ASSESSMENT ROLL
Series 2015 Bonds Reimbursement
Agreement Part B
Property
ID[a]Units Equivalent
Units Note
Outstanding Assessment
Land Use Class
Total Annual
Installment Due
1/31/2026
EU Factor
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 20
Series 2015 Bonds Reimbursement
Agreement Part B
12,291,945.95$ 1,468,152.01$ 1,329,563.12$
Footnotes:
Property
ID[a]Units Equivalent
Units Note
Outstanding Assessment
Land Use Class
Total Annual
Installment Due
1/31/2026
Total[g]
EU Factor
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 21
EXHIBIT A-2 – IMPROVEMENT AREA #2 ASSESSMENT ROLL
42863056 6 1 0.52 0.52 16,431.48$ 1,597.14$
42863064 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863072 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863081 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863099 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863102 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863111 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863129 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863137 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42863145 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42509121 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509139 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509147 5 1 0.68 0.68 21,651.54$ 2,104.52$
42791926 4 1 1.00 1.00 31,622.00$ 3,073.65$
42791934 4 1 1.00 1.00 31,622.00$ 3,073.65$
42791942 4 1 1.00 1.00 31,622.00$ 3,073.65$
42791951 5 1 0.68 0.68 21,651.54$ 2,104.52$
42509198 5 1 0.68 0.68 21,651.54$ 2,104.52$
42509201 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509210 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509228 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509236 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509244 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509252 4 1 1.00 1.00 31,622.00$ 3,073.65$
42837454 4 1 1.00 1.00 31,622.00$ 3,073.65$
42837462 4 1 1.00 1.00 31,622.00$ 3,073.65$
42837471 4 1 1.00 1.00 31,622.00$ 3,073.65$
42509261 Non-Benefitted 0 0.00 0.00 -$ -$
42509279 Non-Benefitted 0 0.00 0.00 -$ -$
43009266 4 1 1.00 1.00 31,622.00$ 3,073.65$
43009274 4 1 1.00 1.00 31,622.00$ 3,073.65$
43009282 4 1 1.00 1.00 31,622.00$ 3,073.65$
43009291 4 1 1.00 1.00 31,622.00$ 3,073.65$
43009304 5 1 0.68 0.68 [b]21,651.54$ 2,104.52$
43009312 4 5 1.00 5.00 [a], [b], [e]158,110.02$ 15,368.25$
43009321 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43009339 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43009347 5 1 0.68 0.68 21,651.54$ 2,104.52$
43009355 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 22
43009363 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43009371 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43009380 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43009398 5 1 0.68 0.68 21,651.54$ 2,104.52$
43009401 5 1 0.68 0.68 [d]21,651.54$ 2,104.52$
42894156 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894164 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894172 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894181 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894199 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894202 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894211 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894229 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894237 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894245 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894253 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894261 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894270 4 1 1.00 1.00 31,622.00$ 3,073.65$
42894288 4 1 1.00 1.00 31,622.00$ 3,073.65$
42874023 4 6 1.00 6.00 [a], [e]189,732.02$ 18,441.90$
42874031 4 1 1.00 1.00 31,622.00$ 3,073.65$
42874040 4 1 1.00 1.00 31,622.00$ 3,073.65$
42402636 4 1 1.00 1.00 31,622.00$ 3,073.65$
42402644 4 1 1.00 1.00 31,622.00$ 3,073.65$
43051327 4 1 1.00 1.00 [c]-$ -$
43052242 4 7 1.00 7.00 [e]221,354.02$ 21,515.55$
43052251 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052269 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052277 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052285 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052293 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052307 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052315 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43052323 4 1 1.00 1.00 [a], [d]31,622.00$ 3,073.65$
42424567 Non-Benefitted 0 0.00 0.00 -$ -$
42424575 Non-Benefitted 0 0.00 0.00 -$ -$
42424583 6 1 0.52 0.52 16,431.48$ 1,597.14$
42424591 6 1 0.52 0.52 16,431.48$ 1,597.14$
42424605 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424613 6 1 0.52 0.52 16,431.48$ 1,597.14$
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 23
42424621 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424630 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424648 6 1 0.52 0.52 16,431.48$ 1,597.14$
42424656 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424664 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424672 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424681 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424699 5 1 0.68 0.68 21,651.54$ 2,104.52$
42424702 Non-Benefitted 0 0.00 0.00 -$ -$
43049721 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049730 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049748 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049756 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049764 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049772 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049781 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43049799 Non-Benefitted 0 0.00 0.00 -$ -$
42331160 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42331178 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
42331186 5 1 0.68 0.68 21,651.54$ 2,104.52$
42331194 5 1 0.68 0.68 21,651.54$ 2,104.52$
42331208 5 1 0.68 0.68 21,651.54$ 2,104.52$
42331216 5 1 0.68 0.68 21,651.54$ 2,104.52$
42331224 Non-Benefitted 0 0.00 0.00 -$ -$
42331232 Non-Benefitted 0 0.00 0.00 -$ -$
42331241 Non-Benefitted 0 0.00 0.00 -$ -$
42331259 Non-Benefitted 0 0.00 0.00 -$ -$
43178173 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178181 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178190 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178203 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178211 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178220 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178238 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178246 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178254 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178262 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178271 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178289 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178297 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
43178301 4 1 1.00 1.00 [a]31,622.00$ 3,073.65$
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 24
3,782,224.91$ 367,631.18$
Footnotes:
Total[f]
EU
Factor
Equivalent
UnitsProperty ID Land Use Class Outstanding
Assessment
Total Annual
Installment Due
1/31/2026
Units Note
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 25
EXHIBIT A-3 – IMPROVEMENT AREA #3 ASSESSMENT ROLL
7 21 1.00 21.00 1,227,661.48$ 119,290.38$
8 23 0.68 15.64 914,315.50$ 88,842.93$
9 36 0.55 19.80 1,157,509.39$ 112,473.79$
3,299,486.37$ 320,607.10$
Footnotes:
[a] Total may not match installment schedules or Service Plan due to rounding
42402822
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 26
EXHIBIT B-1 – DEBT SERVICE SCHEDULE FOR 2015 BONDS
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 27
EXHIBIT B-2 – INSTALLMENT SCHEDULE FOR REIMBURSEMENT AGREEMENT
PART B
2026 42,696.48$ 90,538.91$ -$ 133,235.39$
2027 45,196.36$ 88,039.03$ -$ 133,235.39$
2028 47,842.60$ 85,392.78$ -$ 133,235.39$
2029 50,643.79$ 82,591.60$ -$ 133,235.39$
2030 53,608.98$ 79,626.40$ -$ 133,235.39$
2031 56,747.79$ 76,487.60$ -$ 133,235.39$
2032 60,070.37$ 73,165.01$ -$ 133,235.39$
2033 63,587.49$ 69,647.89$ -$ 133,235.39$
2034 67,310.54$ 65,924.85$ -$ 133,235.39$
2035 71,251.57$ 61,983.82$ -$ 133,235.39$
2036 75,423.35$ 57,812.04$ -$ 133,235.39$
2037 79,839.39$ 53,396.00$ -$ 133,235.39$
2038 84,513.98$ 48,721.40$ -$ 133,235.39$
2039 89,462.28$ 43,773.11$ -$ 133,235.39$
2040 94,700.29$ 38,535.09$ -$ 133,235.39$
2041 100,245.00$ 32,990.39$ -$ 133,235.39$
2042 106,114.34$ 27,121.05$ -$ 133,235.39$
2043 112,327.33$ 20,908.05$ -$ 133,235.39$
2044 118,904.10$ 14,331.29$ -$ 133,235.39$
2045 125,865.94$ 7,369.45$ -$ 133,235.39$
Total 1,546,351.97$ 1,118,355.75$ -$ 2,664,707.72$
Footnotes:
[a] Interest is calculated at a 5.855% rate.
[b] All Administrative Expenses collected go to the bond trust estate administrative fund.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available
offsets could increase or decrease the amounts shown.
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 28
EXHIBIT C – LOTS 1R, 2R, 3 & 4 BLOCK P PLAT
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 29
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 30
EXHIBIT D – LAND USE CLASSIFICATION MAP
SOLANA PUBLIC IMPROVEMENT DISTRICT
2025 ANNUAL SERVICE PLAN UPDATE 31
EXHIBIT E – BUYER DISCLOSURES
Buyer disclosures for the following Land Use Classes are found in this Exhibit:
Improvement Area #1
o Land Use Class 1
o Land Use Class 2
o Land Use Class 3
o Land Use Class 14
Improvement Area #2
o Land Use Class 4
o Land Use Class 5
o Land Use Class 6
Improvement Area #3
o Initial Parcel
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LAND
USE CLASS 1 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LAND USE CLASS 1 PRINCIPAL ASSESSMENT:
$43,941.51
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve Principal Interest[b]
2026 1,017.53$ 2,454.79$ 196.27$ 129.45$ 274.51$ 173.29$ 4,245.83$
2027 1,086.02$ 2,392.46$ 191.18$ 137.03$ 266.93$ 173.48$ 4,247.09$
2028 1,154.50$ 2,325.95$ 185.75$ 145.05$ 258.90$ 176.95$ 4,247.10$
2029 1,222.99$ 2,255.23$ 179.98$ 153.55$ 250.41$ 180.49$ 4,242.64$
2030 1,301.26$ 2,180.32$ 173.86$ 162.54$ 241.42$ 184.10$ 4,243.50$
2031 1,389.32$ 2,100.62$ 167.35$ 172.05$ 231.90$ 187.78$ 4,249.03$
2032 1,477.37$ 2,015.53$ 160.41$ 182.13$ 221.83$ 191.53$ 4,248.80$
2033 1,565.43$ 1,925.04$ 153.02$ 192.79$ 211.17$ 195.36$ 4,242.81$
2034 1,673.05$ 1,829.15$ 145.19$ 204.08$ 199.88$ 199.27$ 4,250.63$
2035 1,770.89$ 1,726.68$ 136.83$ 216.03$ 187.93$ 203.26$ 4,241.61$
2036 1,888.30$ 1,618.21$ 127.97$ 228.68$ 175.28$ 207.32$ 4,245.76$
2037 2,015.49$ 1,500.19$ 118.53$ 242.07$ 161.89$ 211.47$ 4,249.64$
2038 2,142.68$ 1,374.23$ 108.45$ 256.24$ 147.72$ 215.70$ 4,245.02$
2039 2,279.65$ 1,240.31$ 97.74$ 271.24$ 132.72$ 220.01$ 4,241.67$
2040 2,436.20$ 1,097.83$ 86.34$ 287.12$ 116.83$ 224.41$ 4,248.74$
2041 2,592.74$ 945.57$ 74.16$ 303.93$ 100.02$ 228.90$ 4,245.33$
2042 2,768.85$ 780.28$ 61.20$ 321.73$ 82.23$ 233.48$ 4,247.77$
2043 2,954.75$ 603.77$ 47.35$ 340.57$ 63.39$ 238.15$ 4,247.97$
2044 3,150.42$ 415.40$ 32.58$ 360.51$ 43.45$ 242.91$ 4,245.27$
2045 3,365.67$ 214.56$ 16.83$ 381.61$ 22.34$ 247.77$ 4,248.79$
Total 39,253.12$ 30,996.12$ 2,461.00$ 4,688.40$ 3,390.75$ 4,135.63$ 84,925.01$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045 respectively.
[b] Interest is calculated at a 5.855% rate.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts shown.
Installment
Due 1/31
Series 2015 Bonds Reimbursement Agreement Part B Administrative
Expenses
Total Annual
Installment[c]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LAND USE CLASS 1
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LAND
USE CLASS 2 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LAND USE CLASS 2 PRINCIPAL ASSESSMENT:
$27,243.74
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve Principal Interest[b]
2026 630.87$ 1,521.97$ 121.68$ 80.26$ 170.19$ 107.44$ 2,632.41$
2027 673.33$ 1,483.33$ 118.53$ 84.96$ 165.49$ 107.56$ 2,633.20$
2028 715.79$ 1,442.09$ 115.16$ 89.93$ 160.52$ 109.71$ 2,633.20$
2029 758.25$ 1,398.24$ 111.58$ 95.20$ 155.25$ 111.90$ 2,630.44$
2030 806.78$ 1,351.80$ 107.79$ 100.77$ 149.68$ 114.14$ 2,630.97$
2031 861.38$ 1,302.39$ 103.76$ 106.67$ 143.78$ 116.42$ 2,634.40$
2032 915.97$ 1,249.63$ 99.45$ 112.92$ 137.53$ 118.75$ 2,634.25$
2033 970.57$ 1,193.52$ 94.87$ 119.53$ 130.92$ 121.13$ 2,630.54$
2034 1,037.29$ 1,134.08$ 90.02$ 126.53$ 123.92$ 123.55$ 2,635.39$
2035 1,097.95$ 1,070.54$ 84.83$ 133.94$ 116.52$ 126.02$ 2,629.80$
2036 1,170.74$ 1,003.29$ 79.34$ 141.78$ 108.67$ 128.54$ 2,632.37$
2037 1,249.60$ 930.12$ 73.49$ 150.08$ 100.37$ 131.11$ 2,634.78$
2038 1,328.46$ 852.02$ 67.24$ 158.87$ 91.59$ 133.73$ 2,631.91$
2039 1,413.39$ 768.99$ 60.60$ 168.17$ 82.28$ 136.41$ 2,629.84$
2040 1,510.44$ 680.65$ 53.53$ 178.02$ 72.44$ 139.14$ 2,634.22$
2041 1,607.50$ 586.25$ 45.98$ 188.44$ 62.01$ 141.92$ 2,632.10$
2042 1,716.69$ 483.77$ 37.94$ 199.47$ 50.98$ 144.76$ 2,633.62$
2043 1,831.94$ 374.34$ 29.36$ 211.15$ 39.30$ 147.65$ 2,633.74$
2044 1,953.26$ 257.55$ 20.20$ 223.51$ 26.94$ 150.60$ 2,632.07$
2045 2,086.72$ 133.03$ 10.43$ 236.60$ 13.85$ 153.62$ 2,634.25$
Total 24,336.93$ 19,217.59$ 1,525.82$ 2,906.81$ 2,102.27$ 2,564.09$ 52,653.51$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045 respectively.
[b] Interest is calculated at a 5.855% rate.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts shown.
Installment
Due 1/31
Series 2015 Bonds Reimbursement Agreement Part B Administrative
Expenses
Total Annual
Installment[c]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LAND USE CLASS 2
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LAND
USE CLASS 3 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LAND USE CLASS 3 PRINCIPAL ASSESSMENT:
$26,364.91
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve Principal Interest[b]
2026 610.52$ 1,472.87$ 117.76$ 77.67$ 164.70$ 103.97$ 2,547.50$
2027 651.61$ 1,435.48$ 114.71$ 82.22$ 160.16$ 104.09$ 2,548.26$
2028 692.70$ 1,395.57$ 111.45$ 87.03$ 155.34$ 106.17$ 2,548.26$
2029 733.79$ 1,353.14$ 107.99$ 92.13$ 150.25$ 108.29$ 2,545.59$
2030 780.76$ 1,308.19$ 104.32$ 97.52$ 144.85$ 110.46$ 2,546.10$
2031 833.59$ 1,260.37$ 100.41$ 103.23$ 139.14$ 112.67$ 2,549.42$
2032 886.42$ 1,209.32$ 96.24$ 109.28$ 133.10$ 114.92$ 2,549.28$
2033 939.26$ 1,155.02$ 91.81$ 115.67$ 126.70$ 117.22$ 2,545.68$
2034 1,003.83$ 1,097.49$ 87.12$ 122.45$ 119.93$ 119.56$ 2,550.38$
2035 1,062.53$ 1,036.01$ 82.10$ 129.62$ 112.76$ 121.95$ 2,544.97$
2036 1,132.98$ 970.93$ 76.78$ 137.21$ 105.17$ 124.39$ 2,547.46$
2037 1,209.29$ 900.12$ 71.12$ 145.24$ 97.14$ 126.88$ 2,549.78$
2038 1,285.61$ 824.54$ 65.07$ 153.74$ 88.63$ 129.42$ 2,547.01$
2039 1,367.79$ 744.19$ 58.64$ 162.74$ 79.63$ 132.01$ 2,545.00$
2040 1,461.72$ 658.70$ 51.81$ 172.27$ 70.10$ 134.65$ 2,549.24$
2041 1,555.64$ 567.34$ 44.50$ 182.36$ 60.01$ 137.34$ 2,547.20$
2042 1,661.31$ 468.17$ 36.72$ 193.04$ 49.34$ 140.09$ 2,548.66$
2043 1,772.85$ 362.26$ 28.41$ 204.34$ 38.03$ 142.89$ 2,548.78$
2044 1,890.25$ 249.24$ 19.55$ 216.30$ 26.07$ 145.75$ 2,547.16$
2045 2,019.40$ 128.74$ 10.10$ 228.97$ 13.41$ 148.66$ 2,549.27$
Total 23,551.87$ 18,597.67$ 1,476.60$ 2,813.04$ 2,034.45$ 2,481.38$ 50,955.01$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045 respectively.
[b] Interest is calculated at a 5.855% rate.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts shown.
Installment
Due 1/31
Series 2015 Bonds Reimbursement Agreement Part B Administrative
Expenses
Total Annual
Installment[c]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LAND USE CLASS 3
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #1 – LAND
USE CLASS 14 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LAND USE CLASS 14 PRINCIPAL ASSESSMENT PER
1,000 SQUARE FEET: $9,067.17
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve Principal Interest[b]
2026 209.96$ 506.54$ 40.50$ 26.71$ 56.64$ 35.76$ 876.11$
2027 224.10$ 493.68$ 39.45$ 28.28$ 55.08$ 35.80$ 876.37$
2028 238.23$ 479.95$ 38.33$ 29.93$ 53.42$ 36.51$ 876.37$
2029 252.36$ 465.36$ 37.14$ 31.68$ 51.67$ 37.24$ 875.45$
2030 268.51$ 449.90$ 35.88$ 33.54$ 49.82$ 37.99$ 875.63$
2031 286.68$ 433.46$ 34.53$ 35.50$ 47.85$ 38.75$ 876.77$
2032 304.85$ 415.90$ 33.10$ 37.58$ 45.77$ 39.52$ 876.72$
2033 323.02$ 397.22$ 31.58$ 39.78$ 43.57$ 40.31$ 875.49$
2034 345.23$ 377.44$ 29.96$ 42.11$ 41.24$ 41.12$ 877.10$
2035 365.42$ 356.29$ 28.23$ 44.58$ 38.78$ 41.94$ 875.24$
2036 389.64$ 333.91$ 26.41$ 47.19$ 36.17$ 42.78$ 876.10$
2037 415.89$ 309.56$ 24.46$ 49.95$ 33.41$ 43.64$ 876.90$
2038 442.13$ 283.57$ 22.38$ 52.87$ 30.48$ 44.51$ 875.94$
2039 470.40$ 255.93$ 20.17$ 55.97$ 27.39$ 45.40$ 875.25$
2040 502.70$ 226.53$ 17.82$ 59.25$ 24.11$ 46.31$ 876.71$
2041 535.00$ 195.11$ 15.30$ 62.72$ 20.64$ 47.23$ 876.01$
2042 571.34$ 161.01$ 12.63$ 66.39$ 16.97$ 48.18$ 876.51$
2043 609.70$ 124.58$ 9.77$ 70.27$ 13.08$ 49.14$ 876.55$
2044 650.08$ 85.72$ 6.72$ 74.39$ 8.97$ 50.12$ 876.00$
2045 694.49$ 44.27$ 3.47$ 78.74$ 4.61$ 51.13$ 876.72$
Total 8,099.74$ 6,395.94$ 507.82$ 967.43$ 699.67$ 853.37$ 17,523.97$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045 respectively.
[b] Interest is calculated at a 5.855% rate.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts shown.
Installment
Due 1/31
Series 2015 Bonds Reimbursement Agreement Part B Administrative
Expenses
Total Annual
Installment[c]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LAND USE CLASS 14
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #2 – LAND
USE CLASS 4 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 LAND USE CLASS 4 PRINCIPAL ASSESSMENT:
$31,622.00
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve
2026 819.71$ 1,977.56$ 158.11$ 118.27$ 3,073.65$
2027 874.89$ 1,927.35$ 154.01$ 118.38$ 3,074.63$
2028 930.06$ 1,873.76$ 149.64$ 120.75$ 3,074.21$
2029 985.23$ 1,816.80$ 144.99$ 123.16$ 3,070.18$
2030 1,048.29$ 1,756.45$ 140.06$ 125.63$ 3,070.42$
2031 1,119.22$ 1,692.24$ 134.82$ 128.14$ 3,074.42$
2032 1,190.16$ 1,623.69$ 129.22$ 130.70$ 3,073.78$
2033 1,261.10$ 1,550.79$ 123.27$ 133.31$ 3,068.48$
2034 1,347.80$ 1,473.55$ 116.97$ 135.98$ 3,074.30$
2035 1,426.62$ 1,391.00$ 110.23$ 138.70$ 3,066.54$
2036 1,521.20$ 1,303.62$ 103.09$ 141.47$ 3,069.39$
2037 1,623.66$ 1,208.54$ 95.49$ 144.30$ 3,072.00$
2038 1,726.13$ 1,107.07$ 87.37$ 147.19$ 3,067.75$
2039 1,836.47$ 999.18$ 78.74$ 150.13$ 3,064.53$
2040 1,962.58$ 884.40$ 69.56$ 153.14$ 3,069.68$
2041 2,088.69$ 761.74$ 59.74$ 156.20$ 3,066.38$
2042 2,230.57$ 628.59$ 49.30$ 159.32$ 3,067.78$
2043 2,380.32$ 486.39$ 38.15$ 162.51$ 3,067.37$
2044 2,537.96$ 334.64$ 26.25$ 165.76$ 3,064.61$
2045 2,711.36$ 172.85$ 13.56$ 169.08$ 3,066.84$
Total 31,622.00$ 24,970.23$ 1,982.56$ 2,822.13$ 61,396.92$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045
respectively.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual
Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the
amounts shown.
Installment
Due 1/31
Series 2015 Bonds Administrative
Expenses
Total Annual
Installment[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LAND USE CLASS 4
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #2 – LAND
USE CLASS 5 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 LAND USE CLASS 5 PRINCIPAL ASSESSMENT:
$21,651.54
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve
2026 561.26$ 1,354.03$ 108.26$ 80.98$ 2,104.52$
2027 599.03$ 1,319.65$ 105.45$ 81.05$ 2,105.19$
2028 636.81$ 1,282.96$ 102.46$ 82.68$ 2,104.90$
2029 674.59$ 1,243.96$ 99.27$ 84.33$ 2,102.15$
2030 717.76$ 1,202.64$ 95.90$ 86.02$ 2,102.31$
2031 766.33$ 1,158.68$ 92.31$ 87.74$ 2,105.05$
2032 814.90$ 1,111.74$ 88.48$ 89.49$ 2,104.61$
2033 863.47$ 1,061.83$ 84.40$ 91.28$ 2,100.98$
2034 922.83$ 1,008.94$ 80.09$ 93.11$ 2,104.97$
2035 976.80$ 952.42$ 75.47$ 94.97$ 2,099.66$
2036 1,041.56$ 892.59$ 70.59$ 96.87$ 2,101.60$
2037 1,111.72$ 827.49$ 65.38$ 98.80$ 2,103.39$
2038 1,181.88$ 758.01$ 59.82$ 100.78$ 2,100.49$
2039 1,257.43$ 684.14$ 53.91$ 102.80$ 2,098.28$
2040 1,343.78$ 605.55$ 47.63$ 104.85$ 2,101.80$
2041 1,430.12$ 521.56$ 40.91$ 106.95$ 2,099.54$
2042 1,527.26$ 430.39$ 33.76$ 109.09$ 2,100.50$
2043 1,629.80$ 333.03$ 26.12$ 111.27$ 2,100.22$
2044 1,737.74$ 229.13$ 17.97$ 113.50$ 2,098.33$
2045 1,856.46$ 118.35$ 9.28$ 115.77$ 2,099.86$
Total 21,651.54$ 17,097.08$ 1,357.46$ 1,932.31$ 42,038.38$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045
respectively.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual
Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the
amounts shown.
Installment
Due 1/31
Series 2015 Bonds Administrative
Expenses
Total Annual
Installment[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #2 LAND USE CLASS 5
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #2 – LAND
USE CLASS 6 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 LAND USE CLASS 6 PRINCIPAL ASSESSMENT:
$16,431.48
As the purchaser of the real property described above, you are obligated to pay
assessments to 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 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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. 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
Principal Interest[a]Delinquency and
Prepayment Reserve
2026 425.94$ 1,027.58$ 82.16$ 61.46$ 1,597.14$
2027 454.61$ 1,001.49$ 80.03$ 61.51$ 1,597.64$
2028 483.28$ 973.65$ 77.75$ 62.74$ 1,597.42$
2029 511.95$ 944.05$ 75.34$ 64.00$ 1,595.33$
2030 544.71$ 912.69$ 72.78$ 65.28$ 1,595.46$
2031 581.57$ 879.33$ 70.05$ 66.58$ 1,597.54$
2032 618.43$ 843.71$ 67.15$ 67.91$ 1,597.20$
2033 655.29$ 805.83$ 64.05$ 69.27$ 1,594.45$
2034 700.34$ 765.69$ 60.78$ 70.66$ 1,597.47$
2035 741.30$ 722.79$ 57.28$ 72.07$ 1,593.44$
2036 790.45$ 677.39$ 53.57$ 73.51$ 1,594.92$
2037 843.69$ 627.99$ 49.62$ 74.98$ 1,596.28$
2038 896.93$ 575.26$ 45.40$ 76.48$ 1,594.07$
2039 954.27$ 519.20$ 40.91$ 78.01$ 1,592.40$
2040 1,019.80$ 459.56$ 36.14$ 79.57$ 1,595.07$
2041 1,085.33$ 395.82$ 31.04$ 81.16$ 1,593.36$
2042 1,159.05$ 326.63$ 25.62$ 82.79$ 1,594.08$
2043 1,236.87$ 252.74$ 19.82$ 84.44$ 1,593.87$
2044 1,318.78$ 173.89$ 13.64$ 86.13$ 1,592.44$
2045 1,408.88$ 89.82$ 7.04$ 87.86$ 1,593.60$
Total 16,431.48$ 12,975.08$ 1,030.18$ 1,466.44$ 31,903.18$
Footnotes:
[a] Interest is calculated at a 5.50%, 6.125%, 6.25% and 6.375% rate for term bonds maturing in 2025, 2035, 2040 and 2045
respectively.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual
Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the
amounts shown.
Installment
Due 1/31
Series 2015 Bonds Administrative
Expenses
Total Annual
Installment[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #2 LAND USE CLASS 6
SOLANA PUBLIC IMPROVEMENT DISTRICT – IMPROVEMENT AREA #3 – INITIAL
PARCEL BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land
at a sale conducted under a power of sale under a deed of trust or a sale under a court-
ordered foreclosure or has acquired the land by a deed in lieu of foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
TOWN OF WESTLAKE, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 INITIAL PARCEL PRINCIPAL ASSESSMENT:
$3,299,486.37
As the purchaser of the real property described above, you are obligated to pay
assessments to 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
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 Town of Westlake. The exact
amount of each annual installment will be approved each year by the 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 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.
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 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.
______________
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.
Purchaser Signature Page to Final Notice with 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. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
______________
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Seller 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.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
______________
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Delinquency and
Prepayment Reserve
Total 3,299,486.37$ 2,605,430.53$ 206,863.49$ 292,023.69$ 6,403,804.07$
Footnotes:
Installment
Due 1/31
Series 2015 Bonds Administrative
Expenses
Total Annual
Installment[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #3 INITIAL PARCEL