VillaMar	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

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	General Fund

	General Fund Narrative

	Capital Reserve Fund

	Series 2019 Debt Service Fund

	Series 2019 Amortization Schedule

	Series 2020 Debt Service Fund

	Series 2020 Amortization Schedule

	Series 2022 A3 Debt Service Fund

	Series 2022 A3 Amortization Schedule

	Series 2022 A4 Debt Service Fund

	Series 2022 A4 Amortization Schedule

	Series 2023 A5 Debt Service Fund

	Series 2023 A5 Amortization Schedule

	Series 2024 A6 Debt Service Fund

	Series 2024 A6 Amortization Schedule

VillaMar	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted	
Actuals	
Projected	
Total	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues	
Assessments - Tax Roll	$	1,260,612	$	1,180,387	$	80,225	$	1,260,612	$	1,510,465	
Assessments - Direct Bill (Unplatted PH8)	20,706	15,530	5,177	20,706	-	
Developer Contributions	-	15,218	-	15,218	-	
Interest Income	5,000	9,373	3,000	12,373	7,000	
Miscellaneous Revenue	-	98,274	-	98,274	-	
Total Revenues	$	1,286,318	$	1,318,782	$	88,401	$	1,407,183	$	1,532,683	

Expenditures	
Administrative	
Supervisor Fees	$	12,000	$	2,600	$	6,000	$	8,600	$	12,000	
Engineering	7,500	7,068	12,932	20,000	20,000	
Attorney	25,000	6,200	18,800	25,000	25,000	
Attorney - Boundary Amendment	5,000	15,218	-	15,218	-	
Annual Audit	7,200	7,200	-	7,200	7,300	
Assessment Administration	10,300	10,300	-	10,300	10,815	
Bonds Amortization Filing	4,000	3,250	750	4,000	4,500	
Arbitrage	2,700	900	1,800	2,700	2,700	
Dissemination	10,300	5,150	5,150	10,300	10,815	
Trustee Fees	29,800	8,701	21,099	29,800	29,800	
Management Fees	45,964	22,982	22,982	45,964	50,000	
Information Technology	1,947	974	974	1,947	2,044	
Website Maintenance	1,298	649	649	1,298	1,363	
Postage & Delivery	3,000	647	2,353	3,000	3,000	
Insurance General Liability	7,000	6,793	-	6,793	7,473	
Copies	500	79	421	500	500	
Legal Advertising	3,160	5,451	4,549	10,000	5,500	
Office Supplies	500	78	422	500	500	
Other Current Charges	2,000	740	1,260	2,000	2,000	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Subtotal Administrative	$	179,343	$	105,155	$	100,141	$	205,295	$	195,485	

Operations & Maintenance	
Field Expenditures	
Field Management	$	23,175	$	11,588	$	11,588	$	23,175	$	30,000	
Landscape Maintenance	226,000	97,488	51,492	148,980	275,000	
Landscape Replacement	35,000	600	34,400	35,000	35,000	
Pond Maintenance	35,000	17,160	17,840	35,000	36,400	
Pond Maintenance - Trash Cleanup	-	-	-	-	5,000	
Fountain Maintenance	1,000	700	300	1,000	1,000	
Hog Trapping	-	-	-	-	6,665	
Streetlights	190,000	104,971	85,029	190,000	215,000	
Electric	5,000	1,168	3,832	5,000	5,000	
Water & Sewer	50,000	41,765	38,235	80,000	100,000	
Sidewalk & Asphalt Maintenance	5,000	5,692	-	5,692	5,000	
Irrigation Repairs	10,000	1,769	8,231	10,000	10,000	
General Repairs & Maintenance	30,000	9,976	20,024	30,000	38,000	
Property Insurance	27,500	14,053	-	14,053	20,000	
Reserve Study	-	-	-	-	7,500	
Contingency	25,000	1,085	23,915	25,000	25,000	
Subtotal Field Expenditures	$	662,675	$	308,016	$	294,884	$	602,900	$	814,565	

VillaMar	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted	
Actuals	
Projected	
Total	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Amenity Expenditures						
Security Services	72,000	4,426	35,574	40,000	65,000	
Pool Maintenance - Contract	$	70,900	$	17,560	$	17,900	$	35,460	$	72,693	
Pool Parts & Repairs	7,700	950	6,750	7,700	7,700	
Mitigation Monitoring	-	-	-	-	6,120	
Pest Control	2,000	300	300	600	2,480	
Janitorial Services	30,700	8,360	9,640	18,000	45,000	
Internet	5,000	1,282	1,484	2,766	5,640	
Playground & Furniture Lease	65,000	25,290	16,520	41,809	65,000	
Amenity - Electric	22,000	7,654	8,000	15,654	35,000	
Amenity - Water & Sewer	22,000	5,213	6,000	11,213	33,000	
Amenity Access Management	15,000	7,500	7,500	15,000	15,000	
Amenity Repairs & Maintenance	20,000	4,696	15,304	20,000	20,000	
Holiday Decorations	20,000	17,000	-	17,000	20,000	
Contingency	25,000	935	22,514	23,449	25,000	
Capital Outlay	-	98,274	-	98,274	-	
Subtotal Amenity Expenditures	$	377,300	$	199,440	$	147,486	$	346,925	$	417,633	

Total Operations & Maintenance	$	1,039,975	$	507,456	$	442,369	$	949,825	$	1,232,198	

Total Expenditures	$	1,219,318	$	612,610	$	542,510	$	1,155,120	$	1,427,683	

Other Financing Sources/(Uses):

$	(67,000)	$	(236,845)	$	-	$	(236,845)	$	(105,000)	

Capital Reserves

Total Other Financing Uses	$	(67,000)	$	(236,845)	$	-	$	(236,845)	$	(105,000)	

Net Change in Fund Balance	$	-	$	469,327	$	(454,109)	$	15,218	$	-	

Gross Assessments	
Less: Discounts & Collections 7%	
Net Assessments	

$	1,624,156
 $	113,691 
 $	1,510,465 

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26 Gross Per Unit	FY 27 Gross Per Unit	Increase / (Decrease)	
Single Family	1791	$	1,510,465.25	$	1,624,156.18	$	756.84	$	906.84	$	150.00	

1791	$ 1,510,465.25	$ 1,624,156.18	

VillaMar	
Community Development District	
Budget Narrative	
Approved Proposed Budget	

REVENUES	
Maintenance Assessements	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Interest
The District earns interest on the monthly average collected balance for each of their operating accounts.	

Expenditures - Administrative	
Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.	
Engineering	
The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.	
Attorney	
The District currently has a contract with Kilinski Van Wyk, PLLC. to provide legal counsel services. This contract includes preparation for board meetings, review of contracts, review of agreements and resolutions and other research as directed by the Board of Supervisors and the District Manager.	
Attorney - Boundary Amendment	
The District currently has a contract with Kilinski Van Wyk, PLLC. to provide legal counsel services and supplemental boundary amendment services.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated
increase.	
Assessment Administration	
Expenditures with Governmental Management Services related to adminitration of the District's Assessment Roll.	
Bond Amortization Filing	
The District will contract with an independent certified public accountant to calculate and update the District’s Amortization on its Series 2019, Series 2020, Series 2022 Series 2023 and Series 2024 bonds as well as one other anticipated bond
issuance.	
Arbitrage	
The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2019, Series 2020, Series 2022, Series 2023 and Series 2024 bonds as well as one other anticipated bond
issuance.	
Dissemination	
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost with Governmental Management Services – Central Florida LLC is based upon the Series 2019, Series 2020, and Series 2022 bonds as well as one other anticipated bond issuance.
The District has an agreement for $5000 for the first bond issuance, and an additional $1000 for each issuance after.	
Trustee Fees	
The District will incur trustee related costs with the issuance of its’ issued bonds.	
Management Fees	
The District has contracted with Governmental Management Services to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.	
Information Technology	
Represents costs with Governmental Management Services – Central Florida LLC of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection,
accounting software, tablets for meetings, Adobe, Microsoft Office, etc.	

VillaMar	
Community Development District	
Budget Narrative	
Approved Proposed Budget	

Expenditures - Administrative (continued)	
Website Maintenance	
Represents the costs with Governmental Management Services associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Insurance General Liability	
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.	
Copies	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising	
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Other Current Charges	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to Florida Department of Commerce for $175.	

Expenditures - Field	
Field Management	
Represents the costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. These services are provided by Governmental Management Services-Central Florida, LLC. Services provided include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.	
Landscape Maintenance	
Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. The District has contracted with Prince & Sons, Inc. to provide these services.	
Landscape Replacement	
Represents the estimated cost of replacing landscaping within the common areas of the District.	
Pond Maintenance	
Represents the estimated costs to maintain the ponds within the District’s boundaries. This service is provided by Solitude Lake Management.	
Pond Maintenance - Trash Cleaup	
This would account for quarterly cleaning services around the ponds as an added day at $1,250.00 each event, driving side by sides around the ponds only focusing on trash up and maintenance.	
Fountain Maintenance	
The cost of providing preventative maintenance to the District fountains. The cost ofreflects monthly service plus any repairs needed.	
Hog Trapping	
The cost of removing wild hogs across the District.	
Electric - Streetlights	
Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the
fiscal year.	

VillaMar	
Community Development District	
Budget Narrative	
Approved Proposed Budget	

Expenditures - Field (Continued)	
Electric	
Represents current and estimated electric charges of common areas throughout the District.	
Water & Sewer	
Represents current and estimated costs for water and refuse services provided for common areas throughout the District.	
Sidewalk & Asphalt Maintenance	
Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.	
Irrigation Repairs	
Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.	
General Repairs & Maintenance	
Represents estimated costs for general repairs and maintenance of the District’s common areas.	
Property Insurance	
The District's Property Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.	
Reserve Study	
Represents estimated costs for reserve study by the District's emngineers for future planning.	
Contingency	
Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.	
Expenditures - Amenity	
Pool Maintenance - Contract	
Represents the costs of regular cleaning and treatments of the District’s pools. The District is contracted with Resort Pool Services for these services.	
Security Services	
Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.	
Pool Maintenance - R&M	
Represents the costs of repairs and maintenance other than the contractual services of the District’s pools as they occur.	
Janitorial Services	
Represents the costs to provide janitorial services 3 times a week and supplies for the District’s amenity facilities. The District is contracted with CSS Clean Star Services of Central Florida, Inc. for these services. Additonal services to consider (Pricing reflects BOTH amenities) +$320 - Extend seasonal services from 5 to 6 months of the year (April - Sept) +$300 - Extend extra seasonl garbage empties at pool from 5 to 6 months +$720 - Add a 5th Sunday Service visit for Summer Break months for 2 mo July/Aug) + $720 - Add Airfreshener services to restrooms (assumes 2 restrooms at each amenity) +$500 - Add an annual deep cleaning of tile and grout (February) +$120 - Extra service day Spring Break. Additional Services total: $2,680.00.	
Internet	
Internet service will be added for use at the Amenity Centers. This service is provided by Spectrum.	
Pest Control	
The District will incur costs for pest control treatments to its amenity facilities.	
Mitigation Monitoring	
The District will assign this expense to lake mitigation monitoring.	
Playground & Furniture Lease	
The District has entered into a leasing agreement for playgrounds and pool furniture installed in the community with WHFS, LLC and Bowdrop I, LLC. for the second amenity playground.	
Amenity - Electric	
Represents estimated electric charges for the District’s amenity facilities.	
Amenity – Water & Sewer	
Represents estimated water charges for the District’s amenity facilities.	

VillaMar	
Community Development District	
Budget Narrative	
Approved Proposed Budget	

Expenditures - Amenity (Continued)	
Amenity Management	
Provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.	
Amenity Repairs & Maintenance	
Represents estimated costs for repairs and maintenance of the District’s amenity facilities.	
Holiday Decorations	
Estimated cost for installation of holiday lights and décor as well as supplies.	
Contingency	
Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.	
Other Financing Uses	
Capital Reserves	
Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.	

VillaMar	
Community Development District	
Approved Proposed Budget	
Capital Reserve	

Adopted	
Actuals	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues	
Carry Forward Surplus	
Interest Income	

$	141,650	$	(25,544)	$	-	$	(25,544)	$	179,819	
-	1,018	1,000	2,018	$	1,000	

Total Revenues	$	141,650	$	(24,526)	$	1,000	$	(23,526)	$	180,819	

Expenditures						
Chair Lift Replacement	$	13,500	$	13,500	$	-	$	13,500	$	-	
Furniture Replacement	20,000	13,822	6,178	20,000	-	
New Fountain - PH7	-	-	-	-	22,000	
Permanent Lighting - Front Entry	-	-	-	-	10,000	
Stormwater Maintenance	-	-	-	-	125,000	

Total Expenditures	$	33,500	$	27,322	$	6,178	$	33,500	$	157,000	

Other Financing Sources/(Uses):

$	67,000	$	236,845	$	-	$	236,845	$	105,000	

Capital Reserves

Total Other Financing Uses	$	67,000	$	236,845	$	-	$	236,845	$	105,000	

Net Change in Fund Balance	$	175,150	$	184,997	$	(5,178)	$	179,819	$	128,819	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2019 Area 1 Debt Service Fund	

Adopted	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Tax Roll	$	403,763	$	372,762	$	22,684	$	395,446	$	403,761	
Prepayments	-	8,317	-	8,317	-	
Interest Income	-	8,064	2,200	10,264	6,000	
Carry Forward Surplus	183,440	208,565	-	208,565	216,917	

Total Revenues	$	587,203	$	597,708	$	24,884	$	622,592	$	626,678	
Expenditures

Interest - 11/1	$	137,838	$	137,838	$	-	$	137,838	$	135,238	
Interest - 5/1	137,838	-	137,838	137,838	135,238	
Principal - 5/1	130,000	-	130,000	130,000	135,000	

Total Expenditures	$	405,675	$	137,838	$	267,838	$	405,675	$	405,475	

Net Change in Fund Balance	$	181,528	$	459,870	$	(242,954)	$	216,917	$	221,203	

Interest Expense 11/1/27	 $	132,538 	
Total	 $	132,538 	

Product	Assessab le Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family	333	$	403,761.43	$	434,152.08	$	1,303.76	$	1,303.76	$	-	

333	$	403,761.43	$	434,152.08	

VillaMar	
Community Development District	
Series 2019 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Principal	Interest	Total	

05/01/25	
$	5,975,000	
4.000%	
$	125,000	
$	140,338	
$	-	
11/01/25	5,850,000	4.000%	-	137,838	403,175	
05/01/26	5,850,000	4.000%	130,000	137,838	-	
11/01/26	5,720,000	4.000%	-	135,238	403,075	
05/01/27	5,720,000	4.000%	135,000	135,238	-	
11/01/27	5,585,000	4.000%	-	132,538	402,775	
05/01/28	5,585,000	4.000%	140,000	132,538	-	
11/01/28	5,445,000	4.000%	-	129,738	402,275	
05/01/29	5,445,000	4.000%	145,000	129,738	-	
11/01/29	5,300,000	4.625%	-	126,838	401,575	
05/01/30	5,300,000	4.625%	150,000	126,838	-	
11/01/30	5,150,000	4.625%	-	123,369	400,206	
05/01/31	5,150,000	4.625%	160,000	123,369	-	
11/01/31	4,990,000	4.625%	-	119,669	403,038	
05/01/32	4,990,000	4.625%	165,000	119,669	-	
11/01/32	4,825,000	4.625%	-	115,853	400,522	
05/01/33	4,825,000	4.625%	175,000	115,853	-	
11/01/33	4,650,000	4.625%	-	111,806	402,659	
05/01/34	4,650,000	4.625%	180,000	111,806	-	
11/01/34	4,470,000	4.625%	-	107,644	399,450	
05/01/35	4,470,000	4.625%	190,000	107,644	-	
11/01/35	4,280,000	4.625%	-	103,250	400,894	
05/01/36	4,280,000	4.625%	200,000	103,250	-	
11/01/36	4,080,000	4.625%	-	98,625	401,875	
05/01/37	4,080,000	4.625%	210,000	98,625	-	
11/01/37	3,870,000	4.625%	-	93,769	402,394	
05/01/38	3,870,000	4.625%	220,000	93,769	-	
11/01/38	3,650,000	4.625%	-	88,681	402,450	
05/01/39	3,650,000	4.625%	230,000	88,681	-	
11/01/39	3,420,000	4.875%	-	83,363	402,044	
05/01/40	3,420,000	4.875%	240,000	83,363	-	
11/01/40	3,180,000	4.875%	-	77,513	400,875	
05/01/41	3,180,000	4.875%	255,000	77,513	-	
11/01/41	2,925,000	4.875%	-	71,297	403,809	
05/01/42	2,925,000	4.875%	265,000	71,297	-	
11/01/42	2,660,000	4.875%	-	64,838	401,134	
05/01/43	2,660,000	4.875%	280,000	64,838	-	
11/01/43	2,380,000	4.875%	-	58,013	402,850	
05/01/44	2,380,000	4.875%	295,000	58,013	-	
11/01/44	2,085,000	4.875%	-	50,822	403,834	
05/01/45	2,085,000	4.875%	305,000	50,822	-	
11/01/45	1,780,000	4.875%	-	43,388	399,209	
05/01/46	1,780,000	4.875%	320,000	43,388	-	
11/01/46	1,460,000	4.875%	-	35,588	398,975	
05/01/47	1,460,000	4.875%	340,000	35,588	-	
11/01/47	1,120,000	4.875%	-	27,300	402,888	
05/01/48	1,120,000	4.875%	355,000	27,300	-	
11/01/48	765,000	4.875%	-	18,647	400,947	
05/01/49	765,000	4.875%	375,000	18,647	-	
11/01/49	390,000	4.875%	-	9,506	403,153	
05/01/50	390,000	4.875%	390,000	9,506	399,506	

$	5,975,000	$	4,470,588	$	10,445,588	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2020 Area 2 Debt Service Fund	

Adopted	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Tax Roll	$	369,050	$	340,715	$	28,334	$	369,050	$	369,050	
Interest Income	5,000	7,296	2,000	9,296	5,000	
Carry Forward Surplus	179,457	180,837	-	180,837	191,095	

Total Revenues	$	553,507	$	528,849	$	30,334	$	559,183	$	565,145	

Expenditures	
Interest - 11/1	
Interest - 5/1	
Principal - 5/1	

$	114,044	$	114,044	$	-	$	114,044	$	111,804	
114,044	-	114,044	114,044	111,804	
140,000	-	140,000	140,000	145,000	

Total Expenditures	$	368,088	$	114,044	$	254,044	$	368,088	$	368,608	

Net Change in Fund Balance	$	185,419	$	414,805	$	(223,709)	$	191,095	$	196,538	

Interest Expense 11/1/27	 $	109,484 	
Total	 $	109,484 	

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family - Adams	97	$	130,949.74	$	140,806.17	$	1,451.61	$	1,451.61	$	-	
Single Family - D.R. Horton	103	$	128,750.38	$	138,441.27	$	1,344.09	$	1,344.09	$	-	
Single Family	81	$	109,349.78	$	117,580.41	$	1,451.61	$	1,451.61	$	-	

281	$	369,049.90	$	396,827.85	

VillaMar	
Community Development District	
Series 2020 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Principal	Interest	Total	

05/01/25	$	6,110,000	2.625%	$	135,000	$	115,816	$	-	
11/01/25	5,975,000	3.200%	-	114,044	364,859	
05/01/26	5,975,000	3.200%	140,000	114,044	-	
11/01/26	5,835,000	3.200%	-	111,804	365,848	
05/01/27	5,835,000	3.200%	145,000	111,804	-	
11/01/27	5,690,000	3.200%	-	109,484	366,288	
05/01/28	5,690,000	3.200%	150,000	109,484	-	
11/01/28	5,540,000	3.200%	-	107,084	366,568	
05/01/29	5,540,000	3.200%	155,000	107,084	-	
11/01/29	5,385,000	3.200%	-	104,604	366,688	
05/01/30	5,385,000	3.200%	160,000	104,604	-	
11/01/30	5,225,000	3.750%	-	102,044	366,648	
05/01/31	5,225,000	3.750%	165,000	102,044	-	
11/01/31	5,060,000	3.750%	-	98,950	365,994	
05/01/32	5,060,000	3.750%	170,000	98,950	-	
11/01/32	4,890,000	3.750%	-	95,763	364,713	
05/01/33	4,890,000	3.750%	180,000	95,763	-	
11/01/33	4,710,000	3.750%	-	92,388	368,150	
05/01/34	4,710,000	3.750%	185,000	92,388	-	
11/01/34	4,525,000	3.750%	-	88,919	366,306	
05/01/35	4,525,000	3.750%	190,000	88,919	-	
11/01/35	4,335,000	3.750%	-	85,356	364,275	
05/01/36	4,335,000	3.750%	200,000	85,356	-	
11/01/36	4,135,000	3.750%	-	81,606	366,963	
05/01/37	4,135,000	3.750%	205,000	81,606	-	
11/01/37	3,930,000	3.750%	-	77,763	364,369	
05/01/38	3,930,000	3.750%	215,000	77,763	-	
11/01/38	3,715,000	3.750%	-	73,731	366,494	
05/01/39	3,715,000	3.750%	225,000	73,731	-	
11/01/39	3,490,000	3.750%	-	69,513	368,244	
05/01/40	3,490,000	3.750%	230,000	69,513	-	
11/01/40	3,260,000	3.750%	-	65,200	364,713	
05/01/41	3,260,000	4.000%	240,000	65,200	-	
11/01/41	3,020,000	4.000%	-	60,400	365,600	
05/01/42	3,020,000	4.000%	250,000	60,400	-	
11/01/42	2,770,000	4.000%	-	55,400	365,800	
05/01/43	2,770,000	4.000%	260,000	55,400	-	
11/01/43	2,510,000	4.000%	-	50,200	365,600	
05/01/44	2,510,000	4.000%	270,000	50,200	-	
11/01/44	2,240,000	4.000%	-	44,800	365,000	
05/01/45	2,240,000	4.000%	285,000	44,800	-	
11/01/45	1,955,000	4.000%	-	39,100	368,900	
05/01/46	1,955,000	4.000%	295,000	39,100	-	
11/01/46	1,660,000	4.000%	-	33,200	367,300	
05/01/47	1,660,000	4.000%	305,000	33,200	-	
11/01/47	1,355,000	4.000%	-	27,100	365,300	
05/01/48	1,355,000	4.000%	320,000	27,100	-	
11/01/48	1,035,000	4.000%	-	20,700	367,800	
05/01/49	1,035,000	4.000%	330,000	20,700	-	
11/01/49	705,000	4.000%	-	14,100	364,800	
05/01/50	705,000	4.000%	345,000	14,100	-	
11/01/50	360,000	4.000%	-	7,200	366,300	
05/01/51	360,000	4.000%	360,000	7,200	367,200	

$	6,110,000	$	3,776,716	$	9,886,716	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2022 Area 3 Debt Service Fund	

Adopted	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Tax Roll	$	138,905	$	128,241	$	10,665	$	138,905	$	138,905	
Interest Income	1,000	3,450	1,000	4,450	1,000	
Carry Forward Surplus	139,217	139,762	-	139,762	147,329	

Total Revenues	$	279,122	$	271,452	$	11,665	$	283,117	$	287,235	

Expenditures	
Interest - 11/1	
Principal - 11/1	
Interest - 5/1	

$	43,284	$	43,284	$	-	$	43,284	$	42,503	
50,000	50,000	-	50,000	50,000	
42,503	-	42,503	42,503	41,722	

Total Expenditures	$	135,788	$	93,284	$	42,503	$	135,788	$	134,225	

Net Change in Fund Balance	$	143,335	$	178,168	$	(30,838)	$	147,329	$	153,010	

Interest Expense 11/1/27	$	41,722	
Principal Expense 11/1/27	 $	55,000 	
Total	 $	96,722 	

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family	83	$	103,394.46	$	111,176.84	$	1,339.48	$	1,339.48	$	-	
Single Family - Paid Down	57	$	35,510.87	$	38,183.73	$	669.89	$	669.89	$	-	

140	$	138,905.33	$	149,360.57	

VillaMar	
Community Development District	
Series 2022 A3 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Principal	Interest	Total	
05/01/25	$	2,235,000	3.125%	$	-	$	43,284	$	-	
11/01/25	2,235,000	3.125%	50,000	43,284	136,569	
05/01/26	2,185,000	3.125%	-	42,503	-	
11/01/26	2,185,000	3.125%	50,000	42,503	135,006	
05/01/27	2,135,000	3.125%	-	41,722	-	
11/01/27	2,135,000	3.125%	55,000	41,722	138,444	
05/01/28	2,080,000	3.500%	-	40,863	-	
11/01/28	2,080,000	3.500%	55,000	40,863	136,725	
05/01/29	2,025,000	3.500%	-	39,900	-	
11/01/29	2,025,000	3.500%	55,000	39,900	134,800	
05/01/30	1,970,000	3.500%	-	38,938	-	
11/01/30	1,970,000	3.500%	60,000	38,938	137,875	
05/01/31	1,910,000	3.500%	-	37,888	-	
11/01/31	1,910,000	3.500%	60,000	37,888	135,775	
05/01/32	1,850,000	3.500%	-	36,838	-	
11/01/32	1,850,000	3.500%	65,000	36,838	138,675	
05/01/33	1,785,000	4.000%	-	35,700	-	
11/01/33	1,785,000	4.000%	65,000	35,700	136,400	
05/01/34	1,720,000	4.000%	-	34,400	-	
11/01/34	1,720,000	4.000%	65,000	34,400	133,800	
05/01/35	1,655,000	4.000%	-	33,100	-	
11/01/35	1,655,000	4.000%	70,000	33,100	136,200	
05/01/36	1,585,000	4.000%	-	31,700	-	
11/01/36	1,585,000	4.000%	75,000	31,700	138,400	
05/01/37	1,510,000	4.000%	-	30,200	-	
11/01/37	1,510,000	4.000%	75,000	30,200	135,400	
05/01/38	1,435,000	4.000%	-	28,700	-	
11/01/38	1,435,000	4.000%	80,000	28,700	137,400	
05/01/39	1,355,000	4.000%	-	27,100	-	
11/01/39	1,355,000	4.000%	80,000	27,100	134,200	
05/01/40	1,275,000	4.000%	-	25,500	-	
11/01/40	1,275,000	4.000%	85,000	25,500	136,000	
05/01/41	1,190,000	4.000%	-	23,800	-	
11/01/41	1,190,000	4.000%	90,000	23,800	137,600	
05/01/42	1,100,000	4.000%	-	22,000	-	
11/01/42	1,100,000	4.000%	90,000	22,000	134,000	
05/01/43	1,010,000	4.000%	-	20,200	-	
11/01/43	1,010,000	4.000%	95,000	20,200	135,400	
05/01/44	915,000	4.000%	-	18,300	-	
11/01/44	915,000	4.000%	100,000	18,300	136,600	
05/01/45	815,000	4.000%	-	16,300	-	
11/01/45	815,000	4.000%	105,000	16,300	137,600	
05/01/46	710,000	4.000%	-	14,200	-	
11/01/46	710,000	4.000%	110,000	14,200	138,400	
05/01/47	600,000	4.000%	-	12,000	-	
11/01/47	600,000	4.000%	110,000	12,000	134,000	
05/01/48	490,000	4.000%	-	9,800	-	
11/01/48	490,000	4.000%	115,000	9,800	134,600	
05/01/49	375,000	4.000%	-	7,500	-	
11/01/49	375,000	4.000%	120,000	7,500	135,000	
05/01/50	255,000	4.000%	-	5,100	-	
11/1/1950	255,000	4.000%	125,000	5,100	135,200	
5/1/1951	130,000	4.000%	-	2,600	-	
11/1/1951	130,000	4.000%	130,000	2,600	135,200	

$	2,235,000	$	1,440,269	$	3,675,269	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2022 Area 4 Debt Service Fund	

Adopted	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Tax Roll	$	249,798	$	230,619	$	19,179	$	249,798	$	249,798	
Interest Income	-	4,992	2,000	6,992	-	
Carry Forward Surplus	128,001	127,520	-	127,520	133,022	

Total Revenues	$	377,799	$	363,131	$	21,179	$	384,309	$	382,820	

Expenditures	
Interest - 11/1	
Interest - 5/1	
Principal - 5/1	

$	80,644	$	80,644	$	-	$	80,644	$	79,181	
80,644	-	80,644	80,644	79,181	
90,000	-	90,000	90,000	90,000	

Total Expenditures	$	251,288	$	80,644	$	170,644	$	251,288	$	248,363	

Net Change in Fund Balance	$	126,511	$	282,487	$	(149,465)	$	133,022	$	134,457	

Interest Expense 11/1/27	 $	77,719 	
Total	 $	77,719 	

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family	200	$	249,798.00	$	268,600.00	$	1,343.00	$	1,343.00	$	-	

200	$	249,798.00	$	268,600.00	

VillaMar	
Community Development District	
Series 2022 A4 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Principal	Interest	Total	
05/01/25	$	4,135,000	3.250%	$	85,000	$	82,025	$	-	
11/01/25	4,050,000	3.250%	-	80,644	247,669	
05/01/26	3,870,000	3.250%	90,000	80,644	-	
11/01/26	3,870,000	3.250%	-	79,181	249,825	
05/01/27	3,870,000	3.250%	90,000	79,181	-	
11/01/27	3,870,000	3.625%	-	77,719	246,900	
05/01/28	3,870,000	3.625%	95,000	77,719	-	
11/01/28	3,775,000	3.625%	-	75,997	248,716	
05/01/29	3,775,000	3.625%	95,000	75,997	-	
11/01/29	3,680,000	3.625%	-	74,275	245,272	
05/01/30	3,680,000	3.625%	100,000	74,275	-	
11/01/30	3,365,000	3.625%	-	72,463	246,738	
05/01/31	3,365,000	3.625%	105,000	72,463	-	
11/01/31	3,365,000	3.625%	-	70,559	248,022	
05/01/32	3,365,000	3.625%	110,000	70,559	-	
11/01/32	3,365,000	4.000%	-	68,566	249,125	
05/01/33	3,365,000	4.000%	110,000	68,566	-	
11/01/33	3,255,000	4.000%	-	66,366	244,931	
05/01/34	3,255,000	4.000%	115,000	66,366	-	
11/01/34	3,140,000	4.000%	-	64,066	245,431	
05/01/35	3,140,000	4.000%	120,000	64,066	-	
11/01/35	3,020,000	4.000%	-	61,666	245,731	
05/01/36	3,020,000	4.000%	125,000	61,666	-	
11/01/36	2,895,000	4.000%	-	59,166	245,831	
05/01/37	2,895,000	4.000%	130,000	59,166	-	
11/01/37	2,765,000	4.000%	-	56,566	245,731	
05/01/38	2,765,000	4.000%	135,000	56,566	-	
11/01/38	2,630,000	4.000%	-	53,866	245,431	
05/01/39	2,630,000	4.000%	140,000	53,866	-	
11/01/39	2,490,000	4.000%	-	51,066	244,931	
05/01/40	2,490,000	4.000%	150,000	51,066	-	
11/01/40	2,025,000	4.000%	-	48,066	249,131	
05/01/41	2,025,000	4.000%	155,000	48,066	-	
11/01/41	2,025,000	4.000%	-	44,966	248,031	
05/01/42	2,025,000	4.000%	160,000	44,966	-	
11/01/42	2,025,000	4.125%	-	41,766	246,731	
05/01/43	2,025,000	4.125%	165,000	41,766	-	
11/01/43	1,860,000	4.125%	-	38,363	245,128	
05/01/44	1,860,000	4.125%	175,000	38,363	-	
11/01/44	1,685,000	4.125%	-	34,753	248,116	
05/01/45	1,685,000	4.125%	180,000	34,753	-	
11/01/45	1,505,000	4.125%	-	31,041	245,794	
05/01/46	1,505,000	4.125%	190,000	31,041	-	
11/01/46	1,315,000	4.125%	-	27,122	248,163	
05/01/47	1,315,000	4.125%	195,000	27,122	-	
11/01/47	1,120,000	4.125%	-	23,100	245,222	
05/01/48	1,120,000	4.125%	205,000	23,100	-	
11/01/48	915,000	4.125%	-	18,872	246,972	
05/01/49	915,000	4.125%	215,000	18,872	-	
11/01/49	700,000	4.125%	-	14,438	248,309	
05/01/50	700,000	4.125%	225,000	14,438	-	
11/01/50	475,000	4.125%	-	9,797	249,234	
05/01/51	475,000	4.125%	235,000	9,797	-	
11/01/51	240,000	4.125%	-	4,950	249,747	
05/01/52	240,000	4.125%	240,000	4,950	244,950	
			$	4,135,000	$	2,780,813	$	6,915,813	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2023 Area 5 Debt Service Fund	

Adopted	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Tax Roll	$	538,103	$	472,556	$	65,547	$	538,103	$	511,854	
Prepayments	-	173,452	-	173,452	-	
Interest Income	5,000	11,908	5,000	16,908	5,000	
Carry Forward Surplus	350,715	399,501	-	399,501	393,931	

Total Revenues	$	893,818	$  1,057,417	$	70,547	$  1,127,964	$	910,785	

Expenditures	
Interest - 11/1	
Special Call - 11/1	
Interest - 5/1	
Principal - 5/1	

$	203,881	$	205,152	$	-	$	205,152	$	201,078	
-	210,000	-	210,000	-	
203,881	-	203,881	203,881	201,078	
115,000	-	115,000	115,000	120,000	

Total Expenditures	$	522,763	$	415,152	$	318,881	$	734,033	$	522,156	

Net Change in Fund Balance	$	371,055	$	642,265	$	(248,334)	$	393,931	$	388,629	

Interest Expense 11/1/27	 $	198,153 	
Total	 $	198,153 	

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family	376	$	469,980.41	$	505,355.28	$	1,344.03	$	1,344.03	$	-	
Single Family	67	$	41,873.57	$	45,025.34	$	672.02	$	672.02	$	-	

443	$	511,853.98	$	550,380.62	

VillaMar	
Community Development District	
Series 2023 A5 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Principal	Interest	Total	
05/01/25	7,560,000	4.875%	$	190,000	$	212,344	$	-	
08/01/25	7,370,000	4.875%	125,000	-		
11/01/25	7,245,000	4.875%	-	203,881	731,225	
05/01/26	7,245,000	4.875%	115,000	203,881		
11/01/26	7,130,000	4.875%	-	201,078	519,959	
05/01/27	7,130,000	4.875%	120,000	201,078		
11/01/27	7,010,000	4.875%	-	198,153	519,231	
05/01/28	7,010,000	4.875%	125,000	198,153		
11/01/28	6,885,000	4.875%	-	195,106	518,259	
05/01/29	6,885,000	4.875%	130,000	195,106		
11/01/29	6,755,000	4.875%	-	191,938	517,044	
05/01/30	6,755,000	4.875%	135,000	191,938		
11/01/30	6,620,000	5.625%	-	188,647	515,584	
05/01/31	6,620,000	5.625%	145,000	188,647		
11/01/31	6,475,000	5.625%	-	184,569	518,216	
05/01/32	6,475,000	5.625%	155,000	184,569		
11/01/32	6,320,000	5.625%	-	180,209	519,778	
05/01/33	6,320,000	5.625%	160,000	180,209		
11/01/33	6,160,000	5.625%	-	175,709	515,919	
05/01/34	6,160,000	5.625%	170,000	175,709		
11/01/34	5,990,000	5.625%	-	170,928	516,638	
05/01/35	5,990,000	5.625%	180,000	170,928		
11/01/35	5,810,000	5.625%	-	165,866	516,794	
05/01/36	5,810,000	5.625%	190,000	165,866		
11/01/36	5,620,000	5.625%	-	160,522	516,388	
05/01/37	5,620,000	5.625%	200,000	160,522		
11/01/37	5,420,000	5.625%	-	154,897	515,419	
05/01/38	5,420,000	5.625%	215,000	154,897		
11/01/38	5,205,000	5.625%	-	148,850	518,747	
05/01/39	5,205,000	5.625%	225,000	148,850		
11/01/39	4,980,000	5.625%	-	142,522	516,372	
05/01/40	4,980,000	5.625%	240,000	142,522		
11/01/40	4,740,000	5.625%	-	135,772	518,294	
05/01/41	4,740,000	5.625%	255,000	135,772		
11/01/41	4,485,000	5.625%	-	128,600	519,372	
05/01/42	4,485,000	5.625%	265,000	128,600		
11/01/42	4,220,000	5.625%	-	121,147	514,747	
05/01/43	4,220,000	5.625%	285,000	121,147		
11/01/43	3,935,000	5.625%	-	113,131	519,278	
05/01/44	3,935,000	5.750%	300,000	113,131		
11/01/44	3,635,000	5.750%	-	104,506	517,638	
05/01/45	3,635,000	5.750%	315,000	104,506		
11/01/45	3,320,000	5.750%	-	95,450	514,956	
05/01/46	3,320,000	5.750%	335,000	95,450		
11/01/46	2,985,000	5.750%	-	85,819	516,269	
05/01/47	2,985,000	5.750%	355,000	85,819		
11/01/47	2,630,000	5.750%	-	75,613	516,431	
05/01/48	2,630,000	5.750%	375,000	75,613		
11/01/48	2,255,000	5.750%	-	64,831	515,444	
05/01/49	2,255,000	5.750%	400,000	64,831		
11/01/49	1,855,000	5.750%	-	53,331	518,163	
05/01/50	1,855,000	5.750%	425,000	53,331		
11/01/50	1,430,000	5.750%	-	41,113	519,444	
05/01/51	1,430,000	5.750%	450,000	41,113		
11/01/51	980,000	5.750%	-	28,175	519,288	
05/01/52	980,000	5.750%	475,000	28,175		
11/01/52	505,000	5.750%	-	14,519	517,694	
05/01/53	505,000	5.750%	505,000	14,519	519,519	
			$	7,560,000	$	7,662,106	$  15,222,106	

VillaMar	
Community Development District	
Approved Proposed Budget	
Series 2024 Area 6 Debt Service Fund	

Proposed	
Actual	
Projected	
Projected	Approved
Proposed	
Budget	Thru	Next	Thru	Budget	
Description	FY2026	3/31/2026	6 Months	9/30/2026	FY 2027	

Revenues						
Assessments - Direct	$	603,000	$	556,703	$	46,297	$	603,000	$	603,000	
Interest Income	20,000	14,038	7,000	21,038	15,000	
Carry Forward Surplus	343,608	296,587	-	296,587	343,608	

Total Revenues	$	966,608	$	867,329	$	53,297	$	920,625	$	961,608	

Expenditures	
Interest - 11/1	
Interest - 5/1	
Principal - 5/1	

$	237,884	$	237,884	$	-	$	237,884	$	234,878	
237,884	-	237,884	237,884	234,878	
130,000	-	130,000	130,000	135,000	

Total Expenditures	$	605,769	$	237,884	$	367,884	$	605,769	$	604,756	

Net Change in Fund Balance	$	360,839	$	629,444	$	(314,588)	$	314,856	$	356,852	

Interest Expense 11/1/27	 $	231,756 	
Total	 $	231,756 	

Product	Assessable Units	Total Net Assessment	Total Gross Assessment	FY 26	Gross Per Unit	FY 27	Gross Per Unit	Increase / (Decrease)	

Single Family - Meritage	150	$	202,348.94	$	217,579.50	$	1,450.53	$	1,450.53	$	-	
Single Family	243	$	400,650.89	$	430,807.41	$	1,772.87	$	1,772.87	$	-	

393	$	602,999.83	$	648,386.91	

VillaMar	
Community Development District	
Series 2024 Special Assessment Bonds	
Amortization Schedule	

Date	Balance	Coupon	Prinicpal	Interest	Total	
05/01/25	$	8,700,000	4.625%	$	120,000	$	240,659	$	-	
11/01/25	8,580,000	4.625%	-	237,884	598,544	
05/01/26	8,580,000	4.625%	130,000	237,884	-	
11/01/26	8,450,000	4.625%	-	234,878	602,763	
05/01/27	8,450,000	4.625%	135,000	234,878	-	
11/01/27	8,315,000	4.625%	-	231,756	601,634	
05/01/28	8,315,000	4.625%	140,000	231,756	-	
11/01/28	8,175,000	4.625%	-	228,519	600,275	
05/01/29	8,175,000	4.625%	145,000	228,519	-	
11/01/29	8,030,000	4.625%	-	225,166	598,684	
05/01/30	8,030,000	4.625%	155,000	225,166	-	
11/01/30	7,875,000	4.625%	-	221,581	601,747	
05/01/31	7,875,000	4.625%	160,000	221,581	-	
11/01/31	7,715,000	5.500%	-	217,881	599,463	
05/01/32	7,715,000	5.500%	170,000	217,881	-	
11/01/32	7,545,000	5.500%	-	213,206	601,088	
05/01/33	7,545,000	5.500%	180,000	213,206	-	
11/01/33	7,365,000	5.500%	-	208,256	601,463	
05/01/34	7,365,000	5.500%	190,000	208,256	-	
11/01/34	7,175,000	5.500%	-	203,031	601,288	
05/01/35	7,175,000	5.500%	200,000	203,031	-	
11/01/35	6,975,000	5.500%	-	197,531	600,563	
05/01/36	6,975,000	5.500%	210,000	197,531	-	
11/01/36	6,765,000	5.500%	-	191,756	599,288	
05/01/37	6,765,000	5.500%	225,000	191,756	-	
11/01/37	6,540,000	5.500%	-	185,569	602,325	
05/01/38	6,540,000	5.500%	235,000	185,569	-	
11/01/38	6,305,000	5.500%	-	179,106	599,675	
05/01/39	6,305,000	5.500%	250,000	179,106	-	
11/01/39	6,055,000	5.500%	-	172,231	601,338	
05/01/40	6,055,000	5.500%	265,000	172,231	-	
11/01/40	5,790,000	5.500%	-	164,944	602,175	
05/01/41	5,790,000	5.500%	280,000	164,944	-	
11/01/41	5,510,000	5.500%	-	157,244	602,188	
05/01/42	5,510,000	5.500%	295,000	157,244	-	
11/01/42	5,215,000	5.500%	-	149,131	601,375	
05/01/43	5,215,000	5.500%	310,000	149,131	-	
11/01/43	4,905,000	5.500%	-	140,606	599,738	
05/01/44	4,905,000	5.500%	330,000	140,606	-	
11/01/44	4,575,000	5.750%	-	131,531	602,138	
05/01/45	4,575,000	5.750%	350,000	131,531	-	
11/01/45	4,225,000	5.750%	-	121,469	603,000	
05/01/46	4,225,000	5.750%	370,000	121,469	-	
11/01/46	3,855,000	5.750%	-	110,831	602,300	
05/01/47	3,855,000	5.750%	390,000	110,831	-	
11/01/47	3,465,000	5.750%	-	99,619	600,450	
05/01/48	3,465,000	5.750%	415,000	99,619	-	
11/01/48	3,050,000	5.750%	-	87,688	602,306	
05/01/49	3,050,000	5.750%	440,000	87,688	-	
11/01/49	2,610,000	5.750%	-	75,038	602,725	
05/01/50	2,610,000	5.750%	465,000	75,038	-	
11/01/50	2,145,000	5.750%	-	61,669	601,706	
05/01/51	2,145,000	5.750%	490,000	61,669	-	
11/01/51	1,655,000	5.750%	-	47,581	599,250	
05/01/52	1,655,000	5.750%	520,000	47,581	-	
11/01/52	1,135,000	5.750%	-	32,631	600,213	
05/01/53	1,135,000	5.750%	550,000	32,631	-	
11/01/53	585,000	5.750%	-	16,819	599,450	
05/01/54	585,000	5.750%	585,000	16,819	601,819	
			$	8,700,000	$	9,330,966	$	18,030,966