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OUTSTANDING ASSESSMENT <br /> The District has an outstanding Assessment of$14,000,000.00. <br /> Improvement Area #1 has an outstanding Assessment of$8,687,518.33. <br /> Improvement Area #2 has an outstanding Assessment of$3,589,408.20. <br /> Improvement Area#3 has an outstanding Assessment of$1,723,073.46. <br /> ANNUAL INSTALLMENT DUE 1/31/2024 <br /> ■ Improvement Area #1-3 Bonds Principal and Interest'—The total principal and interest <br /> on the PID Bonds required for this year's Annual Installment is $867,375.00. <br /> ■ Additional Interest—The Delinquency and Prepayment Reserve Requirement,as defined <br /> in the Indenture, of $770,000.00 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$70,000.00. <br /> ■ Annual Collection Costs — 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 Annual Collection Costs due <br /> is $66,000.00. <br /> BreakdownAnnual Collection Cost <br /> PID Administrator $ 60,000.00 <br /> Filing Fees $ 1,000.00 <br /> Miscellaneous $ 1,000.00 <br /> PID Trustee Fees $ 3,500.00 <br /> Dissemination Agent $ 500.00 <br /> Total $ 66,000.00 <br /> Due January 31,2024 <br /> Principal $ 266,000.00 <br /> Interest $ 601,375.00 <br /> Additional Interest $ 70,000.00 <br /> Annual Collection Costs $ 66,000.00 <br /> Total Installment $ 1,003,375.00 <br /> See Exhibit B for the debt service schedule for the Improvement Area #1-3 Bonds as shown in <br /> the limited offering memorandum. <br /> 1 The Annual Installment covers the period September 1,2023 to August 31,2024 and is due by January 31, 2024 <br /> WHISPER SOUTH PUBLIC IMPROVEMENT DISTRICT 3 <br /> 2023 ANNUAL SERVICE PLAN UPDATE <br />