Res 2018-139/Public Hearing on Resolution 2018-139R, approving a notice of the 2018 amended and restated service and assessment plan with Highpointe Trace, LLC. in connection with the Trace Public Improvement District

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“Indenture” means the applicable Indenture of Trust between the City and a trustee relating to the issuance of a series of Major Improvement PID Bonds for financing costs of Public Improvements, as it may be amended from time to time. “Initial Major Improvement PID Bonds” means bonds issued to fund the initial Public Improvements (or a portion thereof) that are secured by Special Assessments levied on Assessed Property. “Initial Special Assessment(s)” means the $11,175,000 of Special Assessment levied on all Assessed Property within the PID upon the adoption of the Assessment Ordinance 2016-42 dated October 18, 2016 and levied in accordance with Sections 372.019 and 372.020 of the PID Act. “Landowners” means Highpointe Trace, LLC, a California limited liability corporation, or other entity affiliated with Highpointe Communities, Inc.; Buffington Classic Texas Homes LLC, and Pacesetter Homes LLC. “Lot” means (i) for any portion of the Property for which a subdivision plat has been recorded in the official public records of the County, a tract of land described as a “lot” in such subdivision plat, and (ii) for any portion of the Property for which a subdivision plat has not been recorded in the official public records of the County, a tract of land anticipated to be described as a “lot” in a final recorded subdivision plat. “Lot Type” means a classification of final building Lots with similar characteristics (e.g. commercial, light industrial, multifamily residential, single family residential, etc.), as determined by the Administrator and confirmed by the City Council. In the case of single family residential Lots, the Lot Type shall be further defined by classifying the residential Lots based on the estimated buildout value of the Lot, as determined by the Administrator and confirmed by the City Council. “Lot Type 1” means a Lot platted prior to January 1, 2018 designated as a 32’/34’ alley lot. “Lot Type 2” means a Lot platted prior to January 1, 2018 designated as a 41’ alley lot. “Lot Type 3” means a Lot platted prior to January 1, 2018 designated as a 50’ lot. “Major Improvement PID Bonds” means the special assessment revenue bonds to be issued by the City, in one or more series, to finance the Public Improvements that confer special benefit on the Assessed Property within the PID, which may include funds for any required reserves and amounts necessary to pay the Major Improvement Area PID Bonds issuance cost, and to be secured by the revenues and funds pledged under an Indenture, consisting primarily of the Special Assessments, pursuant to the authority granted in the PID Act, and as described by this 2018 SAP for the purposes of (i) financing the costs of Public Improvements and related costs and (ii) reimbursing the Landowner for Actual Costs paid prior to the issuance of the Major Improvement Area PID Bonds. This term is also used to 5