Laserfiche WebLink
2019. All 61 residential Lots are classified as Lot Type 3, and 3 Lots are classified as Open <br />Space. See Exhibit B-6 for the Trace Subdivision PA 2B Section B recorded plat. <br />LOT AND HOME SALES <br />Per the Quarterly Report dated March 31, 2020, there are 1,006 expected Lots at buildout with <br />311 Lots closed to homebuilders and 695 Lots owned by the Developer. Of those completed Lots, <br />100 Lots are closed to end-users and 61 Lots are currently under construction. <br />See Exhibit C for Homebuyer Disclosures. <br />OUTSTANDING ASSESSMENT <br />The PID has an outstanding Assessment of $21,665,000, of which $11,700,000.001 is attributable <br />to outstanding Initial PID Bonds, and $9,965,000.00 is attributable to the Reimbursement <br />Obligation. <br />ANNUAL INSTALLMENT DUE 1/31/2021 <br />■ Initial PID Bonds Principal and Interest—The total principal and interest on the PID Bonds <br />required for this year's Annual Installment is $842,975.00. <br />■ Reimbursement Obligation Principal and Interest — The total principal and interest on <br />the Reimbursement Obligation required for this year's Annual Installment is $708,075.00. <br />■ Additional Interest—The Delinquency and Prepayment Reserve Requirement, as defined <br />in the Indenture, of $643,500.00 has not been met. As such, the Delinquency and <br />Prepayment Reserve will be funded with Additional Interest on the outstanding <br />Assessment, resulting in an Additional Interest amount due of $58,500.00. <br />■ Administrative Expenses — The cost of administering the PID and collecting the Annual <br />Installments shall be paid for on a pro rata basis by each Parcel based on the amount of <br />outstanding Assessment remaining on the Parcel. The total Administrative Expenses due <br />is $51,200.00. <br />1 Net of $185,000.00 Initial PID Bonds principal payment due September 1, 2020 which will be paid using the <br />Annual Installment collected on January 31, 2020. <br />MENEENHEHEEEMEMEMIIIIillillillillillillilliillillillillillillilliillillillilliillillillillillillilliillillillillillillilliillillillillillillillillillillilliillillillillillillilliillillillillillillilliillillillillillillillillI <br />k11 7_TS]:111 aIIOW110401e1►1►D1\W1114111TATl:111»e1►[17J7y I3 <br />