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Home My WebLink About033703 ORD - 07/29/2025ORDINANCE NO. 0 3 3 7 0 3 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS APPROVING THE 2025 ANNUAL UPDATE TO THE SERVICE AND ASSESSMENT PLAN AND ASSESSMENT ROLL FOR THE WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 IMPROVEMENT AREA #1 INCLUDING THE COLLECTION OF THE 2025 ANNUAL INSTALLMENTS. WHEREAS, on May 17, 2022, the City Council of the City of Corpus Christi, Texas (the "City Council") passed and approved Resolution No. 032761 authorizing the creation of the Whitecap Public Improvement District in accordance with the Public Improvement District Assessment Act (the "Act"), which authorization was effective upon publication as required by the Act; and WHEREAS, on February 20, 2024, the City Council adopted and approved Ordinance No. 033302 which approved the Whitecap Public Improvement District Service And Assessment Plan (the "2024 Service and Assessment Plan") for the District and levied assessments within Improvement Area #1 of the District; and WHEREAS, on October 15, 2024, the City Council approved Ordinance No. 033492 which issued Improvement Area No. 1 Bonds; and WHEREAS, the 2024 Service and Assessment Plan identified the authorized improvements to be constructed for the benefit of the assessed property within the District, set forth the costs of the authorized improvements, the indebtedness to be incurred for such authorized improvements, and the manner of assessing the property in the District for the costs of such authorized improvements based on the benefit provided to the assessed property in the District and the Assessment Roll adopted identified the assessments on each lot, based on the assessment method identified in the 2024 Service and Assessment Plan; and WHEREAS, the 2024 Service and Assessment Plan and assessment roll is required to be reviewed and updated annually as described in Sections 372.013 and 372.014 of the Act; and WHEREAS, the City Council now desires to proceed with the adoption of this Ordinance and approval of the "Whitecap Public Improvement District Amended and Restated Service and Assessment Plan" and the updated assessment roll attached thereto (the "2025 Amended and Restated Service and Assessment Plan"), in conformity with the requirements of the Act, as the Annual Service Plan Update for the District for 2025 (the "2025 Annual Service Plan Update") and to update the assessment roll; and WHEREAS, the City Council finds the passage of this Ordinance to be in the best interest for the citizens of Corpus Christi, Texas. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1: That all matters stated in the recitals contained in the preamble of this Ordinance are found to be true and correct and are incorporated herein as if copied in their entirety SCANNED as findings of fact. All capitalized terms herein not otherwise defined shall have the meanings ascribed to such terms in the 2025 Amended and Restated Service and Assessment Plan. SECTION 2: That the 2025 Amended and Restated Service and Assessment Plan and updated Assessment Roll attached hereto as Exhibit A are hereby accepted as provided, as the 2025 Annual Service Plan Update and in connection with the issuance of the Bonds. SECTION 3: If any provision of this Ordinance or the application of any provision to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of the Ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. SECTION 4: That this Ordinance shall be cumulative of all other City Ordinances and all other provisions of other Ordinances adopted by the City which are inconsistent with the terms or provisions of this Ordinance are hereby repealed. SECTION 5: The City Secretary is directed to give notice of the authorization of the 2025 Annual Service Plan Update by recording this Ordinance in the Official Public Records of Nueces County, Texas on or before the seventh day after the final passage of this Ordinance. SECTION 6: This Ordinance shall take effect immediately from and after its passage and in accordance with the provisions of the Act, and it is accordingly so ordained. SECTION 7: It is hereby officially found and determined that the meeting at which this Ordinance is passed was open to the public as required and that public notice of the time, place, and purpose of said meeting was given as required by the Open Meetings Act. SECTION 8: This Ordinance shall take effect and be in force immediately from and after its adoption on the date shown below in accordance with Texas Government Code, Section 1201.028, as amended. [The remainder of this page intentionally left blank.] PASSED AND APPROVED on this 29th day of July, 2025. ATTEST: (SEAL) APPROVED THIS 29TH DAY OF JULY, 2025 -ram n6c- Miles Risley, City Attorney 19 v y (G7x c .ly F 0,00,9 AFTER RECORDING RETURN TO: City of Corpus Christi Attn: City Secretary 1201 Leopard Street Corpus Christi, Texas 78401 Y OF CORPUS CHRISTI, TEXAS Mayor 033703"1 Exhibit A 2025 Annual Service Plan Update TKS WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 ANNUAL SERVICE PLAN UPDATE JaLY 22, 2025 • 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 District was created pursuant to the PID Act by Resolution No. 032761 on May 17, 2022 by the City Council to finance certain Authorized Improvements for the benefit of the property in the District. On February 20, 2024, the City approved the Service and Assessment Plan for the District by adopting Ordinance No. 033302 which approved the levy of Improvement Area #1 Assessments against Improvement Area #1 Assessed Property and approved the Improvement Area #1 Assessment Roll. On October 15, 2024, the City approved the 2024 Amended and Restated Service and Assessment Plan for the District by adopting Ordinance No. 033492, which served to amend and restate the Service and Assessment Plan in its entirety for the purposes of (1) issuing the Improvement Area #1 Bonds and (2) updating the Improvement Are a#1 Assessment Roll The 2024 Amended and Restated Service and Assessment Plan identified the Authorized Improvements to be constructed for the benefit of the 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 City Council also adopted an Assessment Roll identifying the Assessments on each Lot within Improvement Area #1 of the District, based on the method of assessment identified in the 2024 Amended and Restated Service and Assessment Plan. This 2025 Annual Service Plan Update also updates the Assessment Roll for 2025. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 1 PARCEL SUBDIVISION Improvement Area #1 ■ The final plat of Whitecap North Padre Island Unit 1B, attached here to as Exhibit C-1, was filed and recorded with the County on December 5, 2024, and consists of 64 residential Lots and 15 Lots of Non -Benefited property. ■ The final plat of Whitecap North Padre Island Unit 1C, attached here to as Exhibit C-2, was filed and recorded with the County on December 5, 2024, and consists of 16 residential Lots and 2 Lots of Non -Benefited property. ■ The final plat of Whitecap North Padre Island Unit 1D, attached here to as Exhibit C-3, was filed and recorded with the County on December 5, 2024, and consists of 27 residential Lots and 4 Lots of Non -Benefited property. ■ The final plat of Whitecap North Padre Island Unit 1E, attached here to as Exhibit C-4, was filed and recorded with the County on December 5, 2024, and consists of 69 residential Lots and 13 Lots of Non -Benefited property. See the anticipated Lot Type classification summary within Improvement Area #1 below: Improvement Area #1 Lot Type 1 Lot Type 2 Lot Type 3 Lot Type 4 Lot Type 5 Lot Type 6 Lot Type 7 21 45 9 93 15 9 7 Total 199 See Exhibit D for the Lot Type classification map. u WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 2 LOT AND HOME SALES Improvement Area #1 Per the Quarterly Report dated March 31, 2025, the lot ownership composition is provided below: • Developer Owned: o Lot Type 1: 21 Lots o Lot Type 2: 45 Lots o Lot Type 3: 9 Lots o Lot Type 4: 93 Lots o Lot Type 5: 15 Lots o Lot Type 6: 9 Lots o Lot Type 7: 7 Lots • Homebuilder Owned: o Lot Type 1: 0 Lots o Lot Type 2: 0 Lots o Lot Type 3: 0 Lots o Lot Type 4: 0 Lots o Lot Type 5: 0 Lots o Lot Type 6: 0 Lots o Lot Type 7: 0 Lots • End -User Owner: o Lot Type 1: 0 Lots o Lot Type 2: 0 Lots o Lot Type 3: 0 Lots o Lot Type 4: 0 Lots o Lot Type 5: 0 Lots o Lot Type 6: 0 Lots o Lot Type 7: 0 Lots See Exhibit E for the buyer disclosures. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 3 Authorized Improvements Improvement Area #1 AUTHORIZED IMPROVEMENTS Per the Developer, the Authorized Improvements listed in the 2024 Amended and Restated Service and Assessment Plan for Improvement Area #1 are currently under construction and projected to be completed in the third quarter of 2025. The budget for the Authorized Improvements remains unchanged as shown on the table below. Authorized Improvement Budget - Improvement Area #1 Percent of Budget Spent Budget Spent to Date 1 Forecast Completion Date Improvement Area #l1 Improvements Street Drainage Water Wastewater Soft Costs - IA#1 Subtotal Initial Common to All Improvements Preserve - CTA Soft Costs - CTA Subtotal 17,087,424.00 1,655,010.00 1,742,790.00 3,196,725.00 3,436,250.00 12,560,994.71 26,820.00 1,177, 742.48 2,171, 763.00 1,541,114.86 73.51% 1.62% 67.58% 67.94% 44.85% July 2025 July 2025 July 2025 July 2025 July 2025 $ 27,118,199.00 $ 17,478,435.05 544,018.00 $ 200,769.00 $ 64.45% July 2025 0.00% 30,327.95 15.11% July 2025 July 2025 $ 744,787.00 $ 30,327.95 4.07% July 2025 Total IA#1 Improvements $ 27,862,986.00 $ 17,508,763.00 62.84% July 2025 Footnotes: [a] Amounts per Draw #2. Remainder Area Per the Developer, the Authorized Improvements listed in the 2024 Amended and Restated SAP for the Remainder Area are currently under construction and projected to be completed in the third quarter of 2025. The budget for the Authorized Improvements remains unchanged as shown on the table below. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 4 Authorized Improvements Authorized Improvement Budget - Remainder Area Percent of Budget Forecast Budget Spent to Datela� Spent Completion Date Initial Common to All Improvements Preserve - CTA Soft Costs - CTA Subtotal 1,765,982.00 $ 651,731.00 $ 2,417,713.00 $ 98,450.05 98,450.05 0.00% 15.11% 4.07% July 2025 July 2025 July 2025 Total Remainder Area Improvements $ 2,417,713.00 $ 98,450.05 4.07% July 2025 Footnotes: [a] Amounts per Draw #2. OUTSTANDING ASSESSMENT Improvement Area #1 Net of the principal bond payment due September 15, Improvement Area #1 has an outstanding Assessment of $22,088,000.00. ANNUAL INSTALLMENT DUE 1/31/2026 Improvement Area #1 • Principal and Interest — The total principal and interest required for the Annual Installment is $1,663,110.00. • Additional Interest —The total Additional Interest Reserve Requirement, as defined in the Indenture, is equal to $1,214,840.00 and has not been met. As such, the Additional Interest Account will be funded with Additional Interest on the outstanding Assessments, resulting in an Additional Interest amount due of $110,440.00. ■ Annual Collection Costs —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 Annual Collection Costs budgeted for the Annual Installment is $43,452.33. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 5 White Cap PID - IA#1 - Annual Collection Costs Breakdown P3Works Administration City Auditor Filing Fees County Collection PID Trustee Fees Draw Request Review P3Works Dev/Issuer CDA Review* Collection Cost Maintenance Balance Less CCMB Credit from Prior Years Arbitrage Calculation $ 31,212.00 1,000.00 1,000.00 1,000.00 4,500.00 3,800.00 3,500.00 10,000.00 (14,059.67) 1,500.00 Total Annual Collection Costs $ 43,452.33 Improvement Area #1 Annual Installment Principal Interest Additional Interest Annual Collection Costs Total Annual Installment $ 278,000.00 1,385,110.00 110,440.00 43,452.33 1,817,002.33 See the limited offering memorandum for the pay period. See Exhibit B for the debt service schedule for the Improvement Area #1 Bonds as shown in the limited offering memorandum. PREPAYMENT OF ASSESSMENTS IN FULL No full prepayments of Assessments have occurred within the District. PARTIAL PREPAYMENT OF ASSESSMENTS II No partial prepayments of Assessments have occurred within the District. EXTRAORDINARY OPTIONAL REDEMPTIONS No Extraordinary Optional Redemptions have occurred within the District/Improvement Area. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 6 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. Improvement Area ti1 Bonds Principal Interest 278,000.00 $ 294,000.00 1,385,110.00 $ 1,370,167.50 1,663,110.00 $ 1,664,167.50 Additional Interest (2) $ 110,440.00 Annual Collection Costs (3) $ 43,452.33 Total Annual Installment (4) = (1) + (2) + (3) $ 1,817,002.33 $ $ $ $ $ $ 312,000.00 1,354,365.00 1,666,365.00 109,050.00 $ 107,580.00 46,932.24 $ 47,870.88 1,820,149.74 $ 1,821,815.88 $ $ $ $ $ $ 329,000.00 $ 349,000.00 1,337,595.00 $ 1,319,911.26 1,666,595.00 $ 1,668,911.26 106,020.00 $ 104,375.00 48,828.30 $ 49,804.87 1,821,443.30 $ 1,823,091.13 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 Roll attached hereto as Exhibit A-1. A representative version of a future assessment roll for Unit 1A of Improvement Area #1 broken out on a per Lot basis by legal description based on the preliminary plat filed by the owner, see Exhibit A-2. The Parcels or Lots shown on the Assessment Roll will receive the bills for the 2025 Annual Installments which will be delinquent if not paid by January 31, 2026. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 7 EXHIBIT A-1- IMPROVEMENT AREA #1 ASSESSMENT ROLL J Annual Installment due Property IDlai Lot Type Outstanding Assessment 1/31/2026Ibl 571269 619770 619771 619772 619773 619774 619775 619776 619777 619778 619779 619780 619781 619782 619783 619784 619785 619786 619787 619788 619789 619790 619791 619792 619793 619794 619795 619796 619797 619798 619799 619800 619801 619802 619803 619804 619805 619806 619807 619808 Improvement Area #1 Initial Parcel Non -Benefited Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Non -Benefited Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Non -Benefited Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 $ 2,980,004.65 $ 245,141.04 $ - $ - $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ - $ - $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ - $ - $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 $ 87,344.96 $ 7,185.17 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area #1 have been allocated between all Property IDs within the Improvement Area #1 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property Ds per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area #1 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 8 Property ID" Lot Type Outstanding Assessment Annual Installment due 1/31/2026lb/ 619809 619810 619811 619812 619813 619814 619815 619817 619818 619819 619820 619821 619822 619823 619824 619825 619826 619828 619829 619830 619831 619832 619833 619834 619835 619836 619837 619838 619839 619840 619841 619842 619843 619844 619845 619846 619847 619848 619849 619850 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Lot Type 2 Non -Benefited Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Non -Benefited Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Non -Benefited Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Non -Benefited Non -Benefited Lot Type 1 Lot Type 1 Lot Type 1 Lot Type 1 Non -Benefited Non -Benefited Non -Benefited Non -Benefited Non -Benefited Non -Benefited Non -Benefited 87,344.96 87,344.96 87,344.96 87,344.96 87,344.96 87,344.96 87,344.96 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 72,787.47 7,185.17 7,185.17 7,185.17 7,185.17 7,185.17 7,185.17 7,185.17 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 $ 5,987.64 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 - $ - $ 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 72,787.47 $ 5,987.64 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area 41 have been allocated between all Property IDs within the Improvement Area 41 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property IDs per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area 41 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 9 Annual Installment due Property IDlal Lot Type Outstanding Assessment 1/31/20261bl 619859 619860 619861 619862 619863 619864 619865 619866 619867 619868 619869 619870 619871 619872 619873 619874 619875 619876 619881 619882 619883 619884 619885 619887 619888 619889 619890 619891 619892 619893 619894 619895 619896 619897 619898 619899 619900 619901 619902 619903 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 3 Lot Type 3 Lot Type 3 Lot Type 3 Lot Type 5 Lot Type 5 Lot Type 3 Lot Type 3 Lot Type 3 Lot Type 3 Lot Type 3 Non -Benefited Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 6 Lot Type 6 Lot Type 6 Lot Type 6 Lot Type 6 Lot Type 7 Lot Type 5 Lot Type 5 128,448.48 128,448.48 128,448.48 128,448.48 128,448.48 98,477.17 98,477.17 98,477.17 98,477.17 128,448.48 128,448.48 98,477.17 98,477.17 98,477.17 98,477.17 98,477.17 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 154,138.17 154,138.17 154,138.17 154,138.17 154,138.17 205,517.56 128,448.48 128,448.48 10,566.42 10,566.42 10,566.42 10,566.42 10,566.42 8,100.93 8,100.93 8,100.93 8,100.93 10,566.42 10,566.42 8,100.93 8,100.93 8,100.93 8,100.93 8,100.93 9,721.11 9,721.11 9,721.11 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 12,679.71 $ 12,679.71 $ 12,679.71 $ 12,679.71 $ 12,679.71 $ 16,906.28 $ 10,566.42 $ 10,566.42 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area #1 have been allocated between all Property IDs within the Improvement Area #1 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property IDs per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area #1 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 10 Property IDlal Lot Type Outstanding Assessment Annual Installment due 1/31/2026R'I 619904 619905 619906 619907 619908 619909 619910 619911 619912 619918 619919 619920 619921 619922 619923 619924 619925 619926 619927 619928 619929 619930 619931 619932 619933 619934 619935 619936 619937 619938 619939 619940 619941 619942 619943 619944 619945 619946 619947 619948 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 5 Lot Type 5 Non -Benefited Lot Type 4 Non -Benefited Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 6 Lot Type 6 Lot Type 4 Lot Type 4 Non -Benefited Lot Type 4 128,448.48 128,448.48 128,448.48 128,448.48 128,448.48 128,448.48 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 154,138.17 154,138.17 118,172.60 118,172.60 10,566.42 10,566.42 10,566.42 10,566.42 10,566.42 10,566.42 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 12,679.71 $ 12,679.71 $ 9,721.11 $ 9,721.11 118,172.60 $ 9,721.11 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area #1 have been allocated between all Property IDs within the Improvement Area #1 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property IDs per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area #1 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 11 Property ID" Lot Type Outstanding Assessment Annual Installment due 1/31/2026(bl 619949 619950 619951 619952 619953 619954 619955 619956 619957 619958 619959 619960 619961 619962 619963 619964 619965 619966 619967 619968 619969 619970 619971 619972 619973 619974 619975 619976 619977 619978 619979 619980 619981 619982 619983 619984 619985 619986 619987 619988 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 6 Lot Type 7 Lot Type 7 Lot Type 7 Lot Type 6 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Non -Benefited Lot Type 4 Lot Type 4 Non -Benefited Lot Type 2 Lot Type 2 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 154,138.17 205,517.56 205,517.56 205,517.56 154,138.17 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 87,344.96 87,344.96 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 12,679.71 $ 16,906.28 $ 16,906.28 $ 16,906.28 $ 12,679.71 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 9,721.11 $ 7,185.17 $ 7,185.17 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area #1 have been allocated between all Property IDs within the Improvement Area #1 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property IDs per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area #1 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. 1 WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 12 Property IDIai Lot Type Annual Installment due Outstanding Assessment 1/31/20261h1 619989 619990 619991 619992 619993 619994 619995 619996 619997 621378 621453 621454 621455 622590 622591 Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Non -Benefited Non -Benefited Non -Benefited Non -Benefited Non -Benefited Non -Benefited 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 Totall`1 $ 22,088,000.00 $ 1,817,002.34 Footnotes: [a] The Assessment and Annual Installment allocable to the unplatted portion of Improvement Area #1 have been allocated between all Property IDs within the Improvement Area #1 Initial Parcel pro rata based on acreage as reported by Nueces Central Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this Service and Assessment Plan. Property IDs per Nueces Central Appraisal District and subject to change prior to billing. [b] For a version of the Improvement Area #1 Assessment Roll broken out on a per Lot basis by legal description per preliminary plat for Unit 1A submitted by the Owner, Exhibit A-2.. Note, Property ID numbers will be added when assigned by Nueces County. [c] Totals may not add due to rounding. WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 13 EXHIBIT A-2 - FUTURE UNIT 1A ASSESSMENT ROLL BY LEGAL DESCRIPTION Legal Description Property ID Unit Block Lot Lot Type Outstanding Assessment Total Annual Installment Due 1/31/202.6 TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 1A 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 Non -Benefited Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 4 Lot Type 7 Lot Type 7 Lot Type 7 Non -Benefited Non -Benefited 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 118,172.60 205,517.56 205,517.56 205,517.56 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 9,721.11 16,906.28 16,906.28 16,906.28 Total 2,980,004.65 $ 245,141.04 WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 14 EXHIBIT B - IMPROVEMENT AREA #1 BONDS DEBT SERVICE SCHEDULE 1 DEBT SERVICE REQUIREMENTS The following table sets forth the debt service requirements for the Bonds: Year Eliding (September 30) Principal Interest IQ1a1 2025 S 536,000.00 S 1,237,180.00 S 1,773,180.00 2026 278.000.00 1.385.110.00 1,663,110.00 2027 294,000.00 1,370,167.50 1,664,167.50 2028 312,000.00 1,354,365.00 1,666,365.00 2029 329,000.00 1,337,595.00 1,666,595.00 2030 349.000.00 1,319,911.26 1,668,911.26 2031 370,000.00 1,301,152.50 1,671,152.50 2032 392,000.00 1,281,265.00 1,673,265.00 2033 417,000.00 1,257,255.00 1,674,255.00 2034 446,000.00 1,231,713.76 1,677,713.76 2035 475,000.00 1,204,396.26 1,679,396.26 2036 506,000.00 1,175,302.50 1,681,302.50 2037 540,000.00 1,144,310.00 1,684,310.03 2038 575,000.00 1,111,235.00 1,686,235.00 2039 614,000.00 1,076,016.26 1,690,016.26 2040 655,000.00 1,038,408.76 1,693,408.76 2041 697,000.00 998.290.00 1,695,290.00 2042 744,000.00 955,598.76 1,699,598.76 2043 793,000.00 910,028.76 1,703,028.76 2044 846,000.00 861,457.50 1,707,457.50 2045 901.000.00 809.640.00 1,710,640.00 2046 965,000.00 751,075.00 1,716,075.00 2047 1,032,000.00 688,350.00 1,720,350.00 2048 1,105,000.00 621,270.00 1,726,270.0,0 2049 1,182,000.00 549,445.00 1,731,445.00 2050 1,265,000.00 472.615.00 1,737,615.00 2051 1,353,000.00 390,390.00 1,743,390.00 2052 1,447,000.00 302.445.00 1,749,445.00 2053 1,549,000.00 208.390.00 1,757,390.00 2054 1 657 000 OQ 107.705.00 1,764,705.00 Total S22.624.000.00 S28.452.083.8: S51.076.083.8: THE REN1ANDER OF THIS PAGE IS LEFT BLANK BCIENTIONALLY. 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M.-. 6.a .->1..1 .N ...✓ W..N I..... w.3S_ M,✓ N sad•. aaty WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN I Plat of m.TES (com0,.a) I I NORTH PADRE ISLAND -Unit 1E Pagc2of2 CURVE DATA MO 4.431.33 M.� 7r4 u.a at404 Fri.•• ; F :;;; 4. .. .l:JiLt�1�I5LIbEL �Y}' t(ffITJt* . . u�i .c.xn• is h0 on 41 .r 1474110 1,04 I 4074 1401 41. • ox c,.�a• 1s. WHITECAP ":" 14#o zswwrearezem- ie #0 e.m Is; 1307 144.4 T T 12 Se E4 Y 01 i('P311Y 441057 Ink r'. wnw. ScJ,L ,'.,DV' °I l71.,CK f III *Iv MA* °MO 0- a LJA LJAENOINEENINO nxaexa it+noµ 1 ter WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 23 EXHIBIT D — LOT TYPE CLASSIFICATION MAP 1,11.411.4 WHITECAP Phaso 1 Silo Visualization REVISED 24-04.08 Qi1°� �� WHITECAP CANAL 40100 J 4 e Fu'u+e Developments —� FUTURE 1105PIIAl ITY•- OEVELOPNENT - Future Davalooment- r_ T. MEMELNI 11=11 t INIMIZZOIN 69.51111.01. OL' Omtcv Or, 0'»' WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 1 24 EXHIBIT E - BUYER DISCLOSURES Forms of the buyer disclosures for the following Lot Types are found in this appendix: Improvement Area #1 ■ Initial Parcel ■ Lot Type 1 ■ Lot Type 2 ■ Lot Type 3 ■ Lot Type 4 ■ Lot Type 5 ■ Lot Type 6 ■ Lot Type 7 [Remainder of page left intentionally blank.] WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1 2025 SERVICE AND ASSESSMENT PLAN 25 WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 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 RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 INITIAL PARCEL PRINCIPAL ASSESSMENT: $2,980,004.65 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_ Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 INITIAL PARCEL Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 37,506 39,665 42,094 44,387 47,085 49,919 52,887 56,260 60,172 64,085 68,267 72,854 77,576 82,838 88,369 94,036 100,377 106,988 114,138 121,559 130,193 139,232 149,081 159,470 170,668 182,540 195,222 208,983 223,554 186,872 184,856 182,724 180,462 178,076 175,545 172,862 169,623 166,177 162,491 158,566 154,385 149,922 145,171 140,097 134,684 128,925 122,777 116,224 109,233 101,331 92,869 83,819 74,128 63,763 52,670 40,804 28,115 14,531 Additional Annual Collection Interest Costs 14,900 14,712 14,514 14,304 14,082 13,846 13,597 13,332 13,051 12,750 12,430 12,088 11,724 11,336 10,922 10,480 10,010 9,508 8,973 8,403 7,795 7,144 6,448 5,702 4,905 4,052 3,139 2,163 1,118 5,862 6,332 6,459 6,588 6,719 6,854 6,991 7,131 7,273 7,419 7,567 7,719 7,873 8,030 8,191 8,355 8,522 8,692 8,866 9,043 9,224 9,409 9,597 9,789 9,985 10,184 10,388 10,596 10,808 Total Annual lnstallmentsib1 245,141 245,566 245,790 245,740 245,963 246,164 246,336 246,345 246,673 246,745 246,830 247,046 247,096 247,375 247,579 247,555 247,833 247,965 248,201 248,237 248,543 248,654 248,944 249,089 249,320 249,446 249,553 249,857 250,011 Total $ 2,980,005 $ 3,671,701 $ 287,427 $ 240,466 $ 7,179,599 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.500% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 1 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court -ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 1 PRINCIPAL ASSESSMENT: $72,787.47 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_. Notary Public, State of Texas]4 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 Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 1 Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Principal 916.10 968.83 1,028.15 1,084.17 1,150.07 1,219.28 1,291.77 1,374.16 1,469.72 1,565.29 1,667.44 1,779.48 1,894.82 2,023.34 2,158.45 2,296.85 2,451.73 2,613.20 2,787.86 2,969.10 3,180.00 3,400.79 3,641.35 3,895.09 4,168.61 4,458.60 4,768.36 5,104.48 5,460.38 Interestia1 4,564.41 4,515.17 4,463.09 4,407.83 4,349.56 4,287.74 4,222.20 4,143.08 4,058.92 3,968.90 3,873.02 3,770.89 3,661.90 3,545.84 3,421.91 3,289.70 3,149.02 2,998.85 2,838.80 2,668.04 2,475.05 2,268.35 2,047.30 1,810.61 1,557.43 1,286.47 996.66 686.72 354.92 Additional Annual Collection nterest Costs 363.94 359.36 354.51 349.37 343.95 338.20 332.10 325.65 318.77 311.43 303.60 295.26 286.37 276.89 266.77 255.98 244.50 232.24 219.17 205.23 190.39 174.49 157.48 139.28 119.80 98.96 76.67 52.82 27.30 143.19 154.66 157.75 160.91 164.12 167.41 170.75 174.17 177.65 181.21 184.83 188.53 192.30 196.14 200.07 204.07 208.15 212.31 216.56 220.89 225.31 229.81 234.41 239.10 243.88 248.76 253.73 258.81 263.98 Total Annual nstallmentsib 5,987.64 5,998.01 6,003.50 6,002.27 6,007.71 6,012.62 6,016.84 6,017.05 6,025.07 6,026.81 6,028.89 6,034.16 6,035.38 6,042.21 6,047.20 6,046.61 6,053.40 6,056.61 6,062.38 6,063.26 6,070.75 6,073.44 6,080.54 6,084.08 6,089.71 6,092.78 6,095.41 6,102.83 6,106.59 Total $ 72,787.47 $ 89,682.36 $ 7,020.49 $ 5,873.44 $ 175,363.77 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 2 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court -ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller;.to or from a governmental entity; or 8) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 2 PRINCIPAL ASSESSMENT: $87,344.96 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_. Notary Public, State of Texas]` "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 Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 2 Installment: Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Principal 1,099.33 1,162.60 1,233.78 1,301.00 1,380.09 1,463.13 1,550.13 1,648.99 1,763.67 1,878.34 2,000.93 2,135.38 2,273.78 2,428.01 2,590.14 2,756.22 2,942.08 3,135.85 3,345.43 3,562.92 3,816.00 4,080.95 4,369.62 4,674.11 5,002.33 5,350.31 5,722.03 6,125.38 6,552.45 Interestla 5,477.29 5,418.20 5,355.71 5,289.40 5,219.47 5,145.29 5,066.64 4,971.70 4,870.70 4,762.67 4,647.63 4,525.07 4,394.28 4,255.01 4,106.29 3,947.65 3,778.83 3,598.63 3,406.55 3,201.65 2,970.06 2,722.02 2,456.76 2,172.73 1,868.91 1,543.76 1,195.99 824.06 425.91 Additional Annual Collection Interest Costs 436.72 431.23 425.42 419.25 412.74 405.84 398.53 390.77 382.53 373.71 364.32 354.31 343.64 332.27 320.13 307.18 293.40 278.69 263.01 246.28 228.47 209.39 188.98 167.13 143.76 118.75 92.00 63.39 32.76 171.83 185.59 189.30 193.09 196.95 200.89 204.91 209.00 213.18 217.45 221.80 226.23 230.76 235.37 240.08 244.88 249.78 254.77 259.87 265.07 270.37 275.78 281.29 286.92 292.66 298.51 304.48 310.57 316.78 Total Annual nstallmentsibl 7,185.17 7,197.61 7,204.20 7,202.73 7,209.25 7,215.15 7,220.20 7,220.47 7,230.08 7,232.18 7,234.67 7,241.00 7,242.46 7,250.65 7,256.64 7,255.93 7,264.08 7,267.93 7,274.86 7,275.92 7,284.90 7,288.13 7,296.65 7,300.89 7,307.66 7,311.33 7,314.50 7,323.39 7,327.91 Total $ 87,344.96 $ 107,618.83 $ 8,424.59 $ 7,048.13 $ 210,436.52 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 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 RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 3 PRINCIPAL ASSESSMENT: $98,477.17 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF § The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 3 Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Principal 1,239.44 1,310.77 1,391.02 1,466.81 1,555.98 1,649.61 1,747.69 1,859.15 1,988.45 2,117.74 2,255.95 2,407.54 2,563.58 2,737.46 2,920.25 3,107.51 3,317.05 3,535.51 3,771.81 4,017.02 4,302.36 4,601.07 4,926.53 5,269.83 5,639.88 6,032.22 6,451.31 6,906.06 7,387.57 Interest 4 6,175.38 6,108.76 6,038.30 5,963.54 5,884.69 5,801.06 5,712.39 5,605.35 5,491.47 5,369.68 5,239.97 5,101.79 4,954.33 4,797.31 4,629.64 4,450.78 4,260.44 4,057.27 3,840.72 3,609.70 3,348.59 3,068.94 2,769.87 2,449.65 2,107.11 1,740.52 1,348.42 929.09 480.19 Additional Annual Collection Interest Costs 492.39 486.19 479.63 472.68 465.35 457.57 449.32 440.58 431.28 421.34 410.75 399.47 387.44 374.62 360.93 346.33 330.79 314.21 296.53 277.67 257.58 236.07 213.07 188.43 162.09 133.89 103.72 71.47 36.94 193.73 209.24 213.43 217.70 222.05 226.49 231.02 235.64 240.35 245.16 250.06 255.07 260.17 265.37 270.68 276.09 281.61 287.25 292.99 298.85 304.83 310.92 317.14 323.49 329.95 336.55 343.28 350.15 357.15 Total Annual nstallments[b1 8,100.93 8,114.96 8,122.39 8,120.72 8,128.07 8,134.73 8,140.43 8,140.72 8,151.56 8,153.92 8,156.74 8,163.87 8,165.51 8,174.76 8,181.50 8,180.70 8,189.90 8,194.24 8,202.05 8,203.24 8,213.36 8,217.01 8,226.61 8,231.40 8,239.02 8,243.17 8,246.74 8,256.77 8,261.85 Total $ 98,477.17 $ 121,334.96 $ 9,498.31 $ 7,946.43 $ 237,256.86 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 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 RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 4 PRINCIPAL ASSESSMENT: $118,172.60 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. I (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_. Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for• the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 4 Principal $ 1,487.32 $ $ 1,572.92 $ $ 1,669.23 $ $ 1,760.18 $ $ 1,867.18 $ $ 1,979.53 $ $ 2,097.23 $ $ 2,230.98 $ $ 2,386.14 $ $ 2,541.29 $ $ 2,707.14 $ $ 2,889.04 $ $ 3,076.30 $ $ 3,284.95 $ $ 3,504.30 $ $ 3,729.01 $ $ 3,980.46 $ $ 4,242.61 $ $ 4,526.17 $ $ 4,820.42 $ $ 5,162.83 $ $ 5,521.28 $ $ 5,911.84 $ $ 6,323.80 $ $ 6,767.85 $ $ 7,238.66 $ $ 7,741.57 $ $ 8,287.28 $ $ 8,865.08 $ InterestIa 7,410.45 7,330.51 7,245.96 7,156.24 7,061.63 6,961.27 6,854.87 6,726.42 6,589.77 6,443.62 6,287.96 6,122.15 5,945.20 5,756.77 5,555.57 5,340.93 5,112.53 4,868.73 4,608.87 4,331.64 4,018.31 3,682.73 3,323.85 2,939.58 2,528.53 2,088.62 1,618.11 1,114.90 576.23 Additional Annual Collection Total Annual Interest Costs Installments[b] 590.86 583.43 575.56 567.22 558.41 549.08 539.18 528.70 517.54 505.61 492.90 479.37 464.92 449.54 433.12 415.59 396.95 377.05 355.83 333.20 309.10 283.29 255.68 226.12 194.50 160.66 124.47 85.76 44.33 $ 232.47 $ 251.09 $ 256.11 $ 261.24 $ 266.46 $ 271.79 $ 277.23 $ 282.77 $ 288.42 $ 294.19 $ 300.08 $ 306.08 $ 312.20 $ 318.44 $ 324.81 $ 331.31 $ 337.94 $ 344.69 $ 351.59 $ 358.62 $ 365.79 $ 373.11 $ 380.57 $ 388.18 $ 395.95 $ 403.86 $ 411.94 $ 420.18 $ 428.58 9,721.11 9,737.95 9,746.86 9,744.87 9,753.69 9,761.67 9,768.51 9,768.87 9,781.87 9,784.71 9,788.09 9,796.64 9,798.62 9,809.71 9,817.80 9,816.84 9,827.88 9,833.08 9,842.46 9,843.89 9,856.03 9,860.41 9,871.94 9,877.67 9,886.83 9,891.81 9,896.08 9,908.12 9,914.23 Total $ 118,172.60 $ 145,601.95 $ 11,397.97 $ 9,535.71 $ 284,708.23 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 5 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court -ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 5 PRINCIPAL ASSESSMENT: $128,448.48 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 5 Principal Interest 1,616.66 1,709.70 1,814.38 1,913.24 2,029.54 2,151.66 2,279.60 2,424.98 2,593.63 2,762.27 2,942.54 3,140.27 3,343.80 3,570.60 3,809.03 4,053.27 4,326.59 4,611.54 4,919.75 5,239.59 5,611.77 6,001.40 6,425.91 6,873.69 7,356.36 7,868.11 8,414.75 9,007.91 9,635.96 8,054.84 7,967.94 7,876.05 7,778.52 7,675.69 7,566.60 7,450.95 7,311.32 7,162.79 7,003.93 6,834.74 6,654.51 6,462.17 6,257.36 6,038.66 5,805.36 5,557.10 5,292.10 5,009.64 4,708.30 4,367.73 4,002.97 3,612.88 3,195.19 2,748.40 2,270.24 1,758.81 1,211.85 626.34 Additional Annual Collection Interest Costs 642.24 634.16 625.61 616.54 606.97 596.82 586.07 574.67 562.54 549.58 535.76 521.05 505.35 488.63 470.78 451.73 431.47 409.83 386.78 362.18 335.98 307.92 277.91 245.78 211.42 174.63 135.29 93.22 48.18 252.69 272.93 278.38 283.95 289.63 295.42 301.33 307.36 313.51 319.78 326.17 332.69 339.35 346.14 353.06 360.12 367.32 374.67 382.16 389.80 397.60 405.55 413.66 421.94 430.38 438.98 447.76 456.72 465.85 Total Annual InstallmentsIh 10,566.42 10,584.73 10,594.42 10,592.25 10,601.83 10,610.51 10, 617.95 10,618.33 10,632.47 10,635.55 10,639.22 10, 648.52 10,650.67 10,662.73 10,671.53 10,670.48 10,682.47 10,688.13 10,698.32 10,699.88 10,713.08 10,717.83 10,730.37 10,736.60 10,746.55 10,751.96 10,756.61 10,769.70 10,776.33 Total $ 128,448.48 $ 158,262.99 $ 12,389.10 $ 10,364.90 $ 309,465.47 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 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 CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 6 PRINCIPAL ASSESSMENT: $154,138.17 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_. Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 6 Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 $ 1,939.99 $ $ 2,051.64 $ $ 2,177.25 $ $ 2,295.88 $ $ 2,435.45 $ $ 2,582.00 $ $ 2,735.52 $ $ 2,909.98 $ $ 3,112.35 $ $ 3,314.72 $ $ 3,531.05 $ $ 3,768.32 $ $ 4,012.56 $ $ 4,284.72 $ $ 4,570.83 $ $ 4,863.92 $ $ 5,191.91 $ $ 5,533.85 $ $ 5,903.70 $ $ 6,287.51 $ $ 6,734.12 $ $ 7,201.67 $ $ 7,711.10 $ $ 8,248.43 $ $ 8,827.63 $ $ 9,441.73 $ $ 10,097.70 $ $ 10,809.49 $ $ 11,563.15 $ InterestLa' 9,665.81 9,561.53 9,451.26 9,334.23 9,210.83 9,079.92 8,941.14 8,773.59 8,595.35 8,404.72 8,201.69 7,985.42 7,754.61 7,508.84 7,246.40 6,966.43 6,668.52 6,350.51 6,011.57 5,649.97 5,241.28 4,803.56 4,335.45 3,834.23 3,298.08 2,724.28 2,110.57 1,454.22 751.61 Additional Interest 770.69 760.99 750.73 739.85 728.37 716.19 703.28 689.60 675.05 659.49 642.92 625.26 606.42 586.36 564.93 542.08 517.76 491.80 464.13 434.61 403.18 369.50 333.50 294.94 253.70 209.56 162.35 111.86 57.82 Annual Collection Costs 303.23 327.51 334.06 340.74 347.56 354.51 361.60 368.83 376.21 383.73 391.41 399.23 407.22 415.36 423.67 432.14 440.79 449.60 458.59 467.77 477.12 486.66 496.40 506.32 516.45 526.78 537.32 548.06 559.02 Total Annual Installments" 12,679.71 12,701.67 12,713.30 12,710.70 12,722.20 12,732.61 12,741.54 12,742.00 12,758.96 12,762.66 12,767.07 12,778.23 12,780.80 12,795.27 12,805.83 12,804.58 12,818.97 12,825.76 12,837.99 12,839.85 12,855.70 12,861.40 12,876.44 12,883.92 12,895.86 12,902.36 12,907.94 12,923.64 12,931.60 Total $ 154,138.17 $ 189,915.59 $ 14,866.92 $ 12,437.88 $ 371,358.57 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment WHITECAP PUBLIC IMPROVEMENT DISTRICT NO. 1- IMPROVEMENT AREA #1 LOT TYPE 7 BUYER DISCLOSURE NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT A person who proposes to sell or otherwise convey real property that is located in a public improvement district established under Subchapter A, Chapter 372, Local Government Code (except for public improvement districts described under Section 372.005), or Chapter 382, Local Government Code, shall first give to the purchaser of the property this written notice, signed by the seller. For the purposes of this notice, a contract for the purchase and sale of real property having a performance period of less than six months is considered a sale requiring the notice set forth below. This notice requirement does not apply to a transfer: 1) under a court order or foreclosure sale; 2) by a trustee in bankruptcy; 3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary of a deed of trust by a trustor or successor in interest; 4) by a mortgagee or a beneficiary under a deed of trust who has acquired the land at a sale conducted under a power of sale under a deed of trust or a sale under a court -ordered foreclosure or has acquired the land by a deed in lieu of foreclosure; 5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust; 6) from one co-owner to another co-owner of an undivided interest in the real property; 7) to a spouse or a person in the lineal line of consanguinity of the seller; 8) to or from a governmental entity; or 9) of only a mineral interest, leasehold interest, or security interest The following notice shall be given to a prospective purchaser before the execution of a binding contract of purchase and sale, either separately or as an addendum or paragraph of a purchase contract. In the event a contract of purchase and sale is entered into without the seller having provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate the contract. A separate copy of this notice shall be executed by the seller and the purchaser and must be filed in the real property records of the county in which the property is located at the closing of the purchase and sale of the property. AFTER RECORDING' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO CITY OF CORPUS CHRISTI, TEXAS CONCERNING THE FOLLOWING PROPERTY STREET ADDRESS IMPROVEMENT AREA #1 LOT TYPE 7 PRINCIPAL ASSESSMENT: $205,517.56 As the purchaser of the real property described above, you are obligated to pay assessments to City of Corpus Christi, 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 Whitecap Public Improvement District No. 1 (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City of Corpus Christi. The exact amount of each annual installment will be approved each year by the Corpus Christi City Council in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from City of Corpus Christi. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. ' To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County when updating for the Current Information of Obligation to Pay Improvement District Assessment. [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER The undersigned seller acknowledges providing this notice to the potential purchaser before the effective date of a binding contract for the purchase of the real property at the address described above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER]2 2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1), Tex. Prop. Code. Signature Page to Initial Notice of Obligation to Pay Improvement District Assessment [The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. The undersigned purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20_. Notary Public, State of Texas]3 3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Purchaser Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment [The undersigned seller acknowledges providing a separate copy of the notice required by Section 5.014 of the Texas Property Code including the current information required by Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the address above. DATE: DATE: SIGNATURE OF SELLER SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF The foregoing instrument was acknowledged before me by and , known to me to be the person(s) whose name(s) is/are subscribed to the foregoing instrument, and acknowledged to me that he or she executed the same for the purposes therein expressed. Given under my hand and seal of office on this , 20 . Notary Public, State of Texas]4 4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and to be recorded in the deed records of Nueces County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 7 Installment Due 1/31 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Principal $ 2,586.65 $ $ 2,735.52 $ $ 2,903.00 $ $ 3,061.18 $ $ 3,247.27 $ $ 3,442.66 $ $ 3,647.36 $ $ 3,879.97 $ $ 4,149.80 $ $ 4,419.63 $ $ 4,708.07 $ $ 5,024.42 $ $ 5,350.08 $ $ 5,712.96 $ $ 6,094.44 $ $ 6,485.23 $ $ 6,922.54 $ $ 7,378.46 $ $ 7,871.60 $ $ 8,383.34 $ $ 8,978.83 $ $ 9,602.23 $ $ 10,281.46 $ $ 10,997.91 $ $ 11,770.18 $ $ 12,588.97 $ $ 13,463.60 $ $ 14,412.65 $ $ 15,417.54 $ 12,887.74 12,748.71 12,601.67 12,445.64 12,281.10 12,106.56 11,921.52 11,698.12 11,460.47 11,206.29 10,935.59 10,647.22 10,339.47 10,011.78 9,661.86 9,288.58 8,891.36 8,467.35 8,015.42 7,533.29 6,988.37 6,404.75 5,780.60 5,112.31 4,397.44 3,632.38 2,814.10 1,938.96 1,002.14 Additional Annual Collection Total Annual Interest Costs Installmentsib 1,027.59 1,014.65 1,000.98 986.46 971.16 954.92 937.71 919.47 900.07 879.32 857.22 833.68 808.56 781.81 753.24 722.77 690.35 655.73 618.84 579.48 537.57 492.67 444.66 393.25 338.26 279.41 216.47 149.15 77.09 404.30 436.68 445.41 454.32 463.41 472.68 482.13 491.77 501.61 511.64 521.87 532.31 542.96 553.82 564.89 576.19 587.71 599.47 611.46 623.69 636.16 648.88 661.86 675.10 688.60 702.37 716.42 730.75 745.36 16,906.28 16,935.56 16,951.07 16,947.60 16,962.93 16,976.82 16,988.71 16,989.33 17,011.95 17,016.89 17,022.76 17,037.64 17,041.07 17,060.36 17,074.44 17,072.77 17,091.96 17,101.02 17,117.32 17,119.80 17,140.93 17,148.54 17,168.58 17,178.57 17,194.49 17,203.14 17, 210.58 17,231.52 17,242.13 Total $ 205,517.56 $ 253,220.78 $ 19,822.56 $ 16,583.84 $ 495,144.75 Footnotes: [a] Interest on the Improvement Area #1 Bonds is calculated at a 5.375%, 6.125%, 6.50% rate for term bonds due 2031, 2044, and 2054 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. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment