Falcon Trace Community Development District

Agenda August 17, 2016

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Falcon Trace
Community Development District

135 W. Central Blvd., Suite 320, Orlando, FL 32801
Phone: 407-841-5524 - Fax: 407-839-1526

.LAi.ugust 10, 2016

Board of Supervisors Falcon Trace Community Development District
Dear Board Members:
The regular meeting of the Board of Supervisors of Falcon Trace Community Development District will be held Wednesday, August 17, 2016 at 6:00 PM at the Big Hawk Lake Recreation Ctheenmteere, t1in36g0: 0 Big Hawk Lake Drive, Orlando, Florida.   Following is the advance agenda for
Roll Call
Public Comment Period
Approval of the Minutes of the July 20, 2016 Meeting
Public Hearing
A Consideration of Resolution 2016-05 Adopting the Fiscal Year 2017 Budget and Relating to the Annual Appropriations
B. Consideration of Resolution 2016-06 Imposing Special Assessments and Certifying an Assessment Roll
Consideration of Contracts
A Grau & Associates to Provide Auditing Services for Fiscal Year 2016
Aquatic Weed Management, Inc. Regarding the Provision of Lake Maintenance Services
REW Custom Landscape, LLC Regarding the Provision of Landscape and
Irrigation Maintenance Services
Discussion of Pool Rules
Staff Reports
A	Attorney
District Manager's Report

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Approval of Check Register
Balance Sheet and Income Statement
Field Manager's Report
Presentation of Arbitrage Rebate Calculation Report
Approval of Fiscal Year 2017 Meeting Schedule
Supervisor's Requests
Next Meeting Date - October 19, 2016
Adjournment
The second order of business is the Public Comment Period where the public has  an  opportunity to be heard on propositions coming before the Board as reflected on  the agenda, and any other items.

The third order of business is the approval of the minutes from the July 20, 2016 meeting. The minutes are enclosed for your review.
The fourth order of business opens the public hearing to adopt the Fiscal Year 2017 budget and assessments.  Sectio1l i\ is the cor1sideratio:n of Resolutior1 2016-05 adopti.J1.g tl1e Fiscal Year 2017 budget   and   relating   to   the   annual   appropriations.      A   copy   of   the   Resolution   and proposed
budget are enclosed for your review. Section B is the consideration of Resolution 2016-06 imposing special assessments and certifying an assessment roll.   A copy of the Resolution is
enclosed for your review and a copy of the assessment roll will be available at the meeting for reference.
The fifth order of business is the consideration of contracts. Section is the consideration of agreement with Grau & Associates to provide auditing services for the Fiscal Year 2016. Section
B  is  the  consideration  of  agreement  with  Aquatic  Weed  Management,  Inc.   regarding  the
provision of lake maintenance services. Section C is the consideration of agreement with REW Custom Landscape, LLC regarding the provision of landscape and irrigation maintenance services. Copies of all three agreements are enclosed for your review.
The sixth order of business is the discussion of the pool rules. This is an open discussion item and no back-up material is available.
Section B of the seventh order of business is the District Manager's Report. Section 1 includes
the check register being submitted for approval and Section 2 includes the balance sheet and income statement for your review. Section 3 is the Field Manager's Report, which will be presented at the meeting.
The balance of the agenda will be discussed at the meeting. In the meantime,  if you should  have any questions, please do not hesitate to contact me.
Sincerely,

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fason M. Showe

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District Manager
CC:		Mike Eckert, District Counsel Lindsay Whelan, District Counsel Darrin Mossing, GMS
Enclosures

MINUTES OF MEETING
FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Falcon Trace Community Development District was held Wednesday, July 20, 2016 at 6:00 p.m. at the Big Hawk Lake Recreational Center, 13600 Hawk Lake Drive, Orlando, Florida.
Present and constituting a quorum were:

Andrew Gammon Sara Hurst
Kathy Stark
Sue Marchesi Baron Carole Miller
Also Present were:
Jason Showe Mike Eckert
Alan Scheerer David Tuel Several Residents

FIRST ORDER OF BUSINESS
Mr. Showe called the meeting to order.

SECOND ORDER OF BUSINESS

Chairman
Vice Chairman
Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel
Field Manager
Head Pool Attendant

Roll Call

Public Comment Period

Mr. Gammon gave an overview of the history, the responsibilities and amenities of the CDD to the new homeowners.
THIRD ORDER OF BUSINESS	Approval of the Minutes of the May 18, 2016
Meeting
Mr. Showe stated the next item is approval of the minutes of the May 18, 2016 meeting.
Those have been provided in your agenda and we can take any corrections or changes to those at this time.
There being none,

July 20, 2016	Falcon Trace CDD

the minutes of the May 18, 2016 meeting were approved.

On MOTION by Ms. Hurst seconded by Ms. Stark with all in favor

FOURTH ORDER OF BUSINESS	Presentation	of	lVIemorandum	and
Consideration of Resolution 2016-04 Adopting Policies for the Use of Service Animals in Public Accommodations
Mr. Eckert stated there is a change in Florida Law updating the law on service animals
and where you can prohibit them and when you can't. Essentially you must allow people to use
service animals so long as they are under control, they are a legitimate service animal and they don't pose a threat to anybody else. The law says that we have to adopt policies to permit them
in our facilities. This policy assumes the dogs and pets are banned from the facilities except for service animals and it sets forth the conditions. In looking at your rules and policies that you
have now you don't have an exclusion for pets, they are just not allowed in the pool area. We
may have to tweak this a little bit more given your own circumstance but I don't know if it has
ever been prohibited in talking to your staff of somebody bringing a dog to the basketball court
or somebody bringing a dog to the dock. It is not prohibited by your policies. This is saying it is prohibited and I'm not trying to change that but I may tweak this a little bit just to account for
being basically past the gates, in the pool area or in this room. It says there are no pets allowed
with the exception of service animals and they will be allowed to go wherever.	I think the imp01iant decision under the law is a service animal is an animal that has been trained to perform
a service for somebody who needs it.	It does not include pets that are there for emotional
support. It has to be a dog that is trained or in the process of being trained. If there is somebody who is training a service animal they have to be treated the same way as somebody who has a
service dog. The District is allowed to ask them whether or not the animal is a service animal that is there to help with a disability and also allowed to ask what task or work the animal is
trained to perform. The District cannot ask about the nature ofthe disability or much else.
Ms. Miller asked what about documentation because you go in the mall and see dogs just walking around.
Mr. Eckert stated I don't think the statute allows us to tell somebody they have to produce documentation or anything like that. We are a government and I don't think we can require that they produce it, I can tell you that the statute provides a criminal penalty for anybody interfering

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July 20, 2016	Falcon Trace CDD

with a service dog. It also provides a criminal penalty for somebody who misrepresents that the animal is a service animal.
Ms. Hurst stated Dave has said we haven't had a situation where we have been concerned about someone who has a service dog on the fields. I have never seen anyone bring a pet near
the pool. As a general rule most people don't bring their pets.
Mr. Tuel stated there have been a few that brought them up and I had to tell them they are not allowed in the pool area. They are allowed on the rest of the grounds because there are no
signs saying, no pets.
Ms. Hurst stated this is specific tojust inside the pool facility.
Mr. Eckert stated I'm going to change that unless you now want to adopt a no pet policy everywhere. You can approve the resolution with the understanding that we will revise the policy just to be limited to the pool area.

favor Resolution 2016-04 was approved with the understanding

On MOTION by Mr. Gammon seconded by Ms. Hurst with all in

that the policy will be revised to be limited to the pool area.

FIFTH ORDER OF BUSINESS
Attorney

Staff Reports

Mr. Eckert stated we have an item the Board needs to be aware of.	Almost all the Community Development Districts in the State of Florida and there are over 600 of them have
started to receive repeated public records requests from people who could really care less about
getting the records. In Florida if a local government doesn't comply with the public records law
it is automatic attorneys fees for whoever sues them for violating that law. There are people in the state who figured out that they can make 1,000 public records requests and some people are going to screw up in how they respond or they are too late or they charge too much of a fee or it
goes to their spam folder and they don't respond at all so therefore they can then file suit and it
has become somewhat of a cottage industry. We have fielded a bunch of those and work with the District Manager on responding so we make sure that our responses are prompt and
consistent with Florida Law. I think we will see some more of that. Last year there was a bill before the Florida Legislature to change that language from the "shall award" attorneys fees in a public records case to the word "may award" and that was defeated. We may see that come back

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July 20, 2016	Falcon Trace CDD

again this year but that change in the law was specifically designed to curb the abuse that we see going on now. We have seen in the last two months a big uptick in that, which it costs us time,
which means it costs you money, it costs the District Manager time and money to respond only to get to a point where we say it is going to cost $55 to research and provide these records send us a check and we will give you the records and then of course they never do that because they
are looking for people to mess up before that point. I wanted you to be aware and if that legislation comes back this year and has the "may" and "shall" language I may be coming back
to the Board asking you for a resolution indicating whether you support or don't support that change in the law and perhaps we can provide that to the legislature.
Manager
Approval of Check Register
Mr. Showe stated the next item is approval of the check register for checks 3412 through 3423 for $26,832.16, May payroll for $923.50 for a total of $27,755.66 and Alan and I can answer questions about the invoices that follow the summary.

favor the check register was approved.

On MOTION by Mr. Gammon seconded by Ms. Stark with all in

Balance Sheet and Income Statement
A copy of the balance sheet and income statement were included as part of the agenda package.
Field Manager's Report
Mr. Scheerer gave an overview of the field report, copy of which is attached hereto and made a part hereof.
SIXTH ORDER OF BUSINESS	Supervisor's Requests
Mr. Stark stated I have a 16 year old son who cuITently cannot use the pool unless I'm with him or his mother is with him. I'm requesting that a 16 year old be allowed to come to the
pool by themselves and if they get in trouble then they can't come back unless they are with a parent.
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July 20, 2016	Falcon Trace CDD

Mr. Gammon asked what is the current age?
Mr. Eckert stated basically it is 18 you can come here and if you are 17 and under you
have to be accompanied by a parent. It is a policy decision for this Board to make it is not a legal issue.
Mr. Gammon asked what do other CDDs that have pools do? Mr. Eckert stated we have anything from 18 like you have to 13.
Mr. Scheerer stated 15 and 16 are allowed in some ofthe Districts we manage.
Mr. Gammon asked do you have other facilities where they have their own card? Mr. Showe stated no.
Mr. Gammon asked how would that be handled without issuing a card?
Mr. Scheerer stated not all of our Districts have cards and not all of our Districts have
staff. We have pools that are open from dawn to dusk, pools that are regulated with a card from 8:00 a.m. to 8:00 p.m. but there is no photo ID on the card.
Mr. Gammon asked can I get some input from staff?
Mr. Tuel stated we have enough trouble with 18 year olds we don't want anybody under 18 without adult supervision.
Ms. Hurst asked the challenge you are having with 18 year olds is that they are mouthing offor are they inappropriate?
Mr. Tuel stated just inappropriate, they just don't behave, different things. Some are very grown up and very responsible and some are just troublemakers.
Mr. Gammon asked do the 18 year olds have their own card?
Mr. Tuel stated yes.
Mr. Tuel stated there are a lot of 16 and 17 year olds out here that I would not want to put up with without a parent.
A resident asked how many cards does a resident get?
Mr. Gammon stated I thought it was two.
Ms. Hurst stated I have one and my husband has one and there is a sign that says the
person on the card has to be the one using it. Even if my daughter is 14 and I think she is grown
up I would never give her my card because the face doesn't match and she is officially underage she can't be here by herself. Our staff really does look at the face on the card so I don't want to put them in a bad position by saying use your dad's card.

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July 20, 2016	Falcon Trace CDD

Mr. Stark asked what would determine one screw-up?
Mr. Gammon stated I'm not sure. Mike, what are the ramifications? You can't pick and choose.
Mr. Eckert stated you can. If there is a violation of the policy you can suspend privileges
for violating the policy. I don't think we have a disciplinary policy but we can adopt that but it would have to be uniformly applied to all 17 year olds, all 16 year olds.
Mr. Gammon stated I'm hearing there can be a guideline.
Mr. Eckert stated you can have progressive discipline. First thing you do wrong you get a
verbal warning and are asked to leave for the day. The second thing you do wrong you get a
written warning and asked to leave for the day. The third thing you do wrong your privileges are suspended for a week. Fourth thing you do wrong you go before the Board or up to a year's
suspension. That is an example at one I will be at tomorrow.
Mr. Gammon stated I thought you could have a 16, 17 and 18 year old sub-guideline.
Mr. Eckert stated it is just 16 and 17 because 18 is already considered allowed. I would have to look and see whether or not there is any rational basis to treat them differently. As long
as you treat them all the same that is going to help but I don't know ifa 17 versus an 18 year old who spit gum in the pool, what is the difference between that fraction?
Ms. Hurst stated we would be asking a lot of our staff to keep up with that and I don't want to discount that this would be extra work for the guys.
Mr. Gammon stated 18 and older is considered a resident. An 18 year old can bring in

guests.

Mr. Eckert stated yes, they should be able to.
Mr. Gammon asked ifwe allowed 16 and 17 year olds could they also by default bring in

guests?
Ms. Hurst stated we could limit that.
Mr. Eckert stated you could limit the number ofguests to that household.
Mr. Gammon stated I'm not saying limit guests but limit the ability of a 16 or 17 year old to bring in a guest. We have to think about that because that would be the next question.
Mr. Eckert stated I have to look back at the policies and see what we actually say in relation to that. What I'm hearing you say is we want to know if we can treat a 16 and 17 year old different in terms ofdiscipline and rule following than we treat 18 and up.

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July 20, 2016	Falcon Trace CDD

Mr. Gammon stated conect.
Mr. Stark stated you are giving them the privilege of coming here and if they screw up then next time they come mom and dad have to come with you.
Ms. Hurst stated as a parent if I had to go through the process of coming down with my
child and agreeing my child can come without me there is time invested on my side already and if I know that one infraction by staff would remove the ability of my child to do that unless I
come back I don't know that I would want to do it twice, I would probably just tell my kid you lose. That's me I can't say that is everybody.
Mr. Eckert stated I want to be sure that the answer I give you is right. I don't have any
Districts that do what you are talking about. Every District that we work with set an age and say if you are this age you can be in the pool and you are subject to all the rules and regulations. I'm
not saying it can't be done I'm saying I don't know offthe top of my head.
Mr. Gammon stated that also gives responsibility to staff to make some subjective decisions and I don't know if I am comfortable with that.
A resident stated the state says you are mature enough to drive a car but Falcon Trace
says you are not mature enough to swim in the pool.
Ms. Hurst stated I don't know if we could make a decision tonight but we could certainly make one by our August meeting. It is only 30 days away.
Mr. Eckert stated I will have an answer for you by your next meeting.
Mr. Showe stated depending on the process we have to go through it might be longer than the next meeting even if the Board decided to move forward but we will look at it.
SEVENTH ORDER OF BUSINESS	Next Meeting Date-August 17, 2016
Mr. Showe stated the next meeting will be August 17, 2016 and we will have the budget hearing at that time.

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July 20, 2016	Falcon Trace CDD

On MOTION by Ms. Stark seconded by Ms. Baron with all in favor

the meeting adjourned at 6:37 p.m.

Secretary/Assistant Secretary		ChairmanNice Chairman	

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RESOLUTION 2016-05

THE ANNUAL APPROPRIATION RESOLUTION OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2016, AND ENDING SEPTEMBER 30, 2017; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2016, submitted to the Board of Supervisors ("Board") proposed budgets for the next ensuing budget year along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section 190.008(2)(a), Florida Statutes; and
WHEREAS, at least sixty (60) days prior to the adoption of the proposed annual budgets
("Proposed Budget"), the District filed a copy of the Proposed Budget with the local governing
authorities having jurisdiction over the area included in the District pursuant to the provisions of Section 190.008(2)(b), Florida Statutes; and
WHEREAS, the Board set August 17, 2016, as the date for a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section 190.008(2)(a), Florida Statutes; and
WHEREAS, the District Manager posted the Proposed Budget on the District's website at least two days before the public hearing; and
WHEREAS, Section 190.008(2)(a), Florida Statutes, requires that, prior to October 1st of each year, the District Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and
WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPlVIENT DISTRICT:
SECTION 1.	BUDGET
The Board of Supervisors has reviewed the District Manager's Proposed Budget, a copy of which is on file with the office of the District Manager and at the
District's Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The District Manager's Proposed Budget, attached hereto as Exhibit "A," as amended by the Board, is hereby adopted in accordance with the provisions of Section 190.008(2)(a), Florida Statutes, and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures.
The adopted budget, as amended, shall be maintained in the office of the District Manager and at the District's Records Office and identified as "The Budget for
the Falcon Trace Community Development District for the Fiscal Year Ending September 30, 2017," as adopted by the Board of Supervisors on August 17, 2016.
The final adopted budget shall be posted by the District Manager on the District's official website within thirty (30) days after adoption.
SECTION 2.	APPROPRIATIONS
There is hereby appropriated out of the revenues of the Falcon Trace Community
Development District, for the fiscal year beginning October 1, 2016, and ending September 30, 2017, the sum of $___ 	to be raised by the levy of assessments and  otherwise, which sum is deemed by the Board of Supervisors to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion:

TOTAL GENERAL FUND

$ 		_
$ 	_   	
$-  ----  -

DEBT SERVICE FUND CAPITAL RESERVE FUND TOTAL ALL FUNDS

$-  ----  -

SECTION 3.	BUDGET AMENDMENTS
Pursuant to Section 189.016, Florida Statutes, the District at any time within the fiscal year or within 60 days following the end of the fiscal year may amend its budgets for that fiscal year as follows:
The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase.
The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not

increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 1 0% of the original appropriation.
By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the con-esponding change to appropriations or the unappropriated balance.
Any other budget amendments shall be adopted by resolution and consistent with Florida law.
The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section 189.016 ofthe Florida
Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budgets under subparagraphs c. and d. above are posted on the District's website within 5 days after adoption.
adoptionS.ECTION 4.  EFFECTIVE DATE.  This Resolution shall take effect immediately upon
PASSED AND ADOPTED THIS lih DAY OF AUGUST, 2016.

ATTEST:

Secretary/Assistant Secretary	

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

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Falcon Trace
Community Development District Proposed Budget
FY 2017

Table of Contents

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 	General Fund

 	General Fund Narrative

 	Capital Reserve Fund

 	Debt Service Fund - Series 2007

 	Amortization Schedule - Series 2007

Falcon Trace
Community Develo11ment District
General Fnnd Budget
Fiscal Year 2017
ADOPTED	ACTUAL	NEXT

PROJECTED

PROPOSED

BUDGET	THRU	2	THRU	BUDGET
 	FY 2016	7/31/16	MONTHS	9/30/16	FY2017	

REVENUES:
Maintenance Assessments	$355,855	$364,256	$0	$364,256	$355,855
Miscellaneous Income	$1,000	$2,350	$150	$2,500	$1,000 Interest Income		$0		$100		$25		$125		$0

Administrative:

Carry Forward Surplus	$0	$156,494	$0	$156,494	$0

TOTAL  REVENUES	 	$356,855	$523,199	$175	$523,374	$356,855 EXPENDITURES:

FICA Expense Engineering Fees Dissemination Assessment Roll Arbitrage Rebate Attorney Fees Annual Audit Trustee Fees Management Fees
Infonnation Technology
Telephone Postage
Printing and Binding Insurance
Legal Advertising Contingency Property Appraiser Office Supplies
Dues, Licenses, & Subscriptions	$612
$5,000
$1,000
$5,000
$600
$15,000
$3,300
$4,327
$50,112
$1,450
$100
$1,000
$1,500
$ 11,009
$2,500
$1,200
$1,000
$800
$175	$367
$0
$1 ,000
$5,000
$600
$10,241
$3,300
$0
$41 ,760
$1,208
$25
$1 63
$457
$9,948
$796
$784
$902
$113 	$77
$3,500
$0
$0
$0
$3,759
$0
$4,327
$8,352
$242
$15 
$137
$193
$0
$704
$316
$0
$287	$444
$3,500
$1,000
$5,000
$600
$14,000
$3,300
$4,327
$50,112
$1,450
$40
$300
$650
$9,948
$1,500
$1,100
$902
$400	$612 
$5,000
$1,000
$5,000
$600
$15,000
$3,400
$4,327
$50,112 
$1,450
$100
$1,000
$1,500
$10,950
$2,500
$1 ,200
$1,000
$800	
TOTALADMINISTRATIVE
Maintenance:	$113,685	$81,637	$22,908	$104,546	$113,726	

Supervisors Fees	$8,000	$4,800	$1,000	$5,800	$8,000

$175

$0

Field Management	$18,780	$15,650	$3,130	$18,780	$18,780
Property Insurance	$7,026	$6,245	$0	$6,245	$6,560
Pool StaffPayroll	$74,778	$56,138	$17,362	$73,500	$77,021
Security	$920	$537	$113	$650	$700
Telephone Expense	$4,000	$3,607	$743	$4,350	$4,500
Electric	$18,900	$12,724	$2,776	$15,500	$18,900
Irrigation/Water	$13,500	$7,626	$2,374	$10,000	$13,500
Lake Maintenance	$8,600	$13,009	$600	$13,609	$8,600
Pest Control	$650	$0	$400	$400	$650
Pool Maintenance	$32,000	$23,501	$7,099	$30,600	$32,000
Grounds Maintenance	$29,036	$25,027	$4,973	$30,000	$31 ,036
General Facility Maintenance	$7,000	$12,716	$1,784	$14,500	$8,000
Refuse Service	$2,400	$2,224	$601	$2,825	$3,500
Field Contingency	$5,000	$0	$1,500	$1,500	$5,000
Transfer Out - Current Year	$20,580	$20,580	$56,837	$77,417	$14,382

TOTAL MAINTENANCE	 	$243,170	$199,585 	$100,292	$299,877 	$243,129

TOTAL EXPENDITURES	 	$356,855	$281-222		$123,200	$404,422	$356,855 EXCESS REVENUES (EXPENDITURES)			$0	$241,977	($123,02�	$118,952 *		$0
Net Assessments	$355,855 Add: Discounts & Collections 		$22,714 Gross Assessments	$378,569
Total Units	902
*Remaining in General Fund as 1st Quarter Operating Expenses	Per Unit Assessment	$	419.70

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET

REVENUES:
MAINTENANCE ASSESSMENTS
The District will levy a Non-Ad Valorem assessment on all of the assessable property within the District in order to pay for the operating expenditures during the fiscal year.
MISCELLANEOUS INCOME
The District will receive income from guest fees, including rental income and pool access cards.
EXPENDITURES:
ADMINISTRA TIVE:
SUPERVISORS FEES
The Florida Statutes allows each supervisor to be paid per meeting, for the time devoted to District business and board meetings. The amount for the fiscal year is based upon 5 supervisors attending 8 monthly meetings.
FICA EXPENSE
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.
ENGINEERING FEES
The District's engineer, Donald W. McIntosh Associates, Inc. will be providing general engineering services to the District on an as neededbasis as directed by the Board of Supervisors.
DISSEMINATION
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b) (5) which relates to additional reporting requirements for unrated bond issues. The District's hired Prager & Co., LLC to provide this service.
ASSESSMENT ROLL
The District has contracted with Governmental Management Services - Central Florida, LLC. to levy and administer the collection of a Non-Ad Valorem assessment on all assessable property within the District.
ARBITRAGE REBATE
The District had contracted with Grau & Associates, to annually calculate the District's Arbitrage Rebate Liability on the Series 2007 Special Assessment Bonds
ATTORNEY FEES
The District's attorney will be providing general legal services to the District, e.g., attendance and preparation for monthly meetings, reviewing contracts, agreements, resolutions, etc. The District's legal firm is Hopping, Green & Sams.
ANNUAL AUDIT

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District's auditing firm is Grau & Associates.
TRUSTEE FEES
The District issued Series 2007 Special Assessment B onds that are depositedwith a Trustee at US Bank.

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FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT
GEN ERAL FUND BUDGET

MANAGEMENT FEES
The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.
INFORMATION  TECHNOLOGY
The Disttict incurs costs related to the Disttict's accounting and information systems, website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.
TELEPHONE
The District incurs charges for telephone and facsimile services.
POSTAGE
Mailing of Board meeting agenda packages, overnight deliveries, checks for vendors and any other required correspondence.
PRINTING AND BINDING
Printing and binding agenda packages for board meetings, printing of computerized checks, correspondence, stationary, etc.
INSURANCE
The District's general liability and public officials liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
LEGAL ADVERTISING
Advertising of monthly board meetings, public hearings, and any services that are required to be advertised for public bidding, i.e. audit services, engineering service, maintenance contracts and any other advertising that may be required.
CONTINGENCY
Represents estimated bank charges and any other miscellaneous charges that the District may incur during the fiscal year.
PROPERTY APPRAISER
Represent the Fiscal Year 2017 fees to be paid to the Orange County Property Appraiser's office for assessment administration services.
OFFICE SUPPLIES
The District incurs charges for supplies that need to be purchased during the fiscal year, including copier and printer toner cartridges, paper, file folders, binders, pens, paper clips, and other such office supplies.
DUES, LICENSES, & SUBSCRIPTIONS
The District is required to pay an annual fee to the Department of Economic Opportunities for $175. This is the only expense under this category for the District.
MAINTENANCE:
FIELD MANAGEMENT
Provide onsite field management of contracts for the District per the management consulting contract with Governmental Management Services - Central Florida, LLC. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

3

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT GEN ERAL FUND BUDGET

PROPERTY INSURANCE
The District's property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

POOL STAFF PAYROLL
The District has contracted with Governmental Management Services - Central Florida, LLC. to hire and supervise pool attendants; coordinate all facility operations and be the contact point for answering questions and solving problems for residents. Account line includes staff hours for 20 I 7, all related benefits, and a contingency for projects and a pay increase.

SECURITY
This represents the cost ofmonthly monitoring of the security system to the recreation center.

DESCRIPTION

MONTHLY AMOUNT

SAFETOUCH CONTINGENCY

ANNUAL AMOUNT
$600
 	$100
$700

TELEPHONE EXPENSE
This fee represents telephone and facsimile charges for the recreational facility.

ELECTRIC
The District has electrical accounts with Duke Energy for the recreation facility and other District areas.

DESCRIPTION	MONTHLY
AMOUNT	ANNUAL
AMOUNT	
DUKEENERGY - ACCOUNT # 63686 18371	$1,575	 	$18,900
$18,900	

IRRIGATION/WATER
This item represents utility service costs for water and wastewater.

4

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET

LAKE MAINTENANCE

Maintenance consists oftreatment of the lake edge on the pond area by the recreation center. Costs are based on estimated service costs.

MONTHLY	ANNUAL
DESCRIPTION	AMOUNT	AMOUNT	
AQUATIC WEED MANAGEMENT	$300 ADDITIONAL TREATMENTS	$3,600
$5,000	
	$8,600	
PEST CONTROL
Scheduled maintenance consists ofmonthly interior and exterior service at Big Hawk Lake recreation center.
POOL MAINTENANCE

Scheduled maintenance consists of maintaining the pool, maintaining the chlorine balance in the pool, and monthly purchase of a CO2 tank. Unscheduled maintenance consists of shocking the pool, extra chlorine treatments, or unforeseen repairs.

MONTHLY
DESCRIPTION	AMOUNT
OSBOURNE'S POOL SERVICE & SUPPLY	$1,015 POOL MAINTENANCE
CONTINGENCY	ANNUAL AMOUNT
$12,180
$12,000
$7,820	
$32,000
	
GROUNDS MAINTENANCE
Scheduled maintenance consists of mowing turf, landscape maintenance, trash pickup on the common areas, and all regular landscaping maintenance activities. Unscheduledmaintenance consists ofrepairs or replacement of damaged areas.

MONTHLY	ANNUAL
DESCRIPTION	AMOUNT	AMOUNT	
REW CUSTOM LANDSCAPE	$2,128
IRRIGATION REPAIRS CONTINGENCY	$25,536
$1,500
$4,000	
	$31,036	
GENERAL FACILITY MAINTENANCE
Scheduled maintenance consists of cleaning the recreation center, replacing light bulbs for the tennis courts, performing any necessary general maintenance, painting, electrical and plumbing repairs, and repairing any other damages.
REFUSE SERVICE
Scheduled maintenance consists ofregular trash removal.
FIELD CONTINGENCY
The current year contingency represents the potential excess ofunscheduled maintenance expenses not included in budget categories or not anticipated in specific line items.
TRANSFER OUT - CURRENT YEAR
Transfer out to Capital Projects fund from FY 2017 funds.

5

REVENUES:
Transfer In Interest
Beginning Fund Balance
TOTAL REVENUES

EXPENDITURES:
Pool Furniture Building Renovations
Athletic Comt Resurfacing Dock Repair
Transfer Out
TOTAL EXPENDITURES

Falcon Trace

Community Development District
Capital Reserve Fund
Fiscal Year 2017
ADOPTED	ACTUAL	NEXT BUDGET		THRU		2
FY 2016	07/31/16	MONTHS

$20,580	$20,580	$56,837
$150	$127	$23
$204,762	$216,928	$0

$225,492	$237,635	$56,860

$0	$0	$0
$20,000	$2,880	$0
$6,000	$0	$10,100
$1 2,528	$12,528	$0
$0	$44	$0

$38,528	$15,452	$10,100

PROJECTED PROPOSED THRU	BUDGET
9/30/16	FY 2017

$77,417	$14,382
$150	$150
$216,928	$268,943
$294,495	$283,475

$0	$10,000
$2,880	$20,000
$10,100	$0
$12,528	$0
$44	$0
$25,552	$30,000

EXCESS REVENUES	 	$186,964	$222,183	$46,760	$268,943	$253,475

6

Falcon Trace Community Development District
Debt Service Fund Series 2007
Fiscal Year 2017

ADOPTED	ACTUAL BUDGET		THRU
FY 2016	07/31/16

2
MONTHS

NEXT	PROJECTED PROPOSED

THRU	BUDGET
9/30/16	FY 2017

REVENUES :
Beginning Fund Balance Assessments - On Roll Interest Income
Transfer In
TOTAL REVENUES

EXPENDITURES:
Interest - 11/1 Principal - 5/1 Interest - 5/1
TOTAL EXPENDITURES EXCESS REVENUES

$221,035
$413,660
$100
$0
$634,795

$40,972
$335,000
$40,972
$416,944
$217,852

$222,366
$423,425
$688
$44
$646,524

$40,972
$335,000
$40,972
$416,944
$229,580

$0
$0
$102
$11
$113

$0
$0
$0
$0
$113

$222,366	$229,693
$423,425	$413,660
$790	$100
$55	$0
$646,637	$643,453

$40,972	$33,644
$335,000	$350,000
$40,972	$33,644
$416,944	$417,288
$229,693	$226,166
11/01/17	$25,988

NetAssessments	$413,660 Add: Discounts & Collections 		$26,404 

Gross Assessments	$440,064 Total Units		900

Per Unit Assessment $	488.96

7

FALCON TRACE
Community Development District
SERIES 2007 SPECIAL ASSESSMENTS BONDS DEBT SERVICE SCHEDULE

DATE
11/0 1/16

BALANCE	RATE
$1,505,000.00	4.375%

PRINCIPAL	INTEREST
$0.00	$33,643.75

TOTAL
$33,643.75

AMORTIZATION SCHEDULE

05/01/17	$1,505,000.00	4.375%	$350,000.00	$33,643.75		
11/01/17	$1,155,000.00	4.500%	$0.00	$25,987.50	$409,63 1.25	
05/01/18	$1,155,000.00	4.500%	$370,000.00	$25,987.50		
11/0 1/1 8	$785,000.00	4.500%	$0.00	$17,662.50	$413,650.00	
05/01/19	$785,000.00	4.500%	$385,000.00	$17,662.50		
11/01/19	$400,000.00	4.500%	$0.00	$9,000.00	$41 1 ,662.50	
05/01/20	$400,000.00	4.500%	$400,000.00	$9,000.00	$409,000.00	
			$12505,000.00	$172,587.50	$12611,5s1.so I	

8

.

-----·-·--·---·------o:,··•···

 	

RESOLUTION 2016-06
A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND  IMPOSING SPECIAL ASSESSMENTS  FOR FISCAL
	 YEAR  2016/2017; PROVIDING FOR THE COLLECTION AND	ENFORCEMENT	OF	SPECIAL	ASSESSMENTS;
CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Falcon Trace Community Development District ("District") is a local unit ofspecial-purpose government established pursuant to Chapter 190, Florida Statutes for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and
WHEREAS, the District is located in Orange County, Florida ("County"); and
WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District's adopted capital improvement plan and Chapter 190, Florida Statutes; and
WHEREAS, the Board of Supervisors of the District ("Board") hereby determines to unde1iake various operations and maintenance and other activities described in the District's budgets for Fiscal Year 2016/2017 ("Budget"), attached hereto as Exhibit "A" and incorporated by reference herein; and
WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the District's Budget; and
WHEREAS, the provision ofsuch services, facilities, and operations is a benefit to lands within the District; and
WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and
WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set fmih in the Budget; and
WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2016/2017; and
WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which

("Uniform Method"),

such special assessments may be placed on the tax roll and collected by the local tax collector and the District has previously authorized the use of the Uniform Method
by, among other things, entering into agreements with the Property Appraiser and Tax Collector ofthe County for that purpose; and
WHEREAS, it is in the best interests of the District to adopt the Assessment Roll of the Falcon Trace Community Development District ("Assessment Roll") attached to this Resolution as Exhibit "B" and incorporated as a material paii of this Resolution by this reference, and to certify the Assessment Roll to the County Tax Collector pursuant to the Uniform Method; and
WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll, certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT:

Exhibits "A" and "B,"

SECTION 1. BENEFIT. The Board hereby finds and determines that the provision of the services, facilities, and operations as described in Exhibit "A" confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands, as shown in
is hereby found to be fair and reasonable.

Exhibits "A" and "B."

SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapter 1 90 of the Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District, and in accordance with
The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution.

"A" and "B."	Exhibits

SECTION 3. COLLECTION. The collection of the operation and maintenance special assessments and previously levied debt service assessments shall be at the same time and in the same manner as County taxes in accordance with the Uniform Method, as indicated on
The decision to collect special assessments by any particular method - e.g., on the tax roll or by direct bill - does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select coliection methods in any given year, regardiess ofpast practices.
SECTION 4. ASSESSMENT ROLL. The District's Assessment Roll, attached to this Resolution as Exhibit "B," is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the Falcon Trace Community Development District.
SECTION 5.  ASSESSMENT ROLL AMENDMENT.	The District Manager shall keep

apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the District's Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.
SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof.
SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board of Supervisors of the Falcon Trace Community Development District.
PASSED AND ADOPTED this 1 ?111 day of August, 201 6.

ATTEST:

Secretary / Assistant Secretary

Exhibit A:	Budget
Exhibit B:	Assessment Roll

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

By:		Its:---	---------

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Augu st 1, 201 6 Board of Supervisors
Falcon Trace Community Development District c/o GMS, LLC
1 35 W. Central Blvd, Suite 320
Orlando, FL 32801

2700 North Military Trail • Suite 350 Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax (561) 994-5823
www.graucoa.com

We are pleased to confirm our understanding of the services we are to provide Falcon Trace Community Development District, Orange County, Florida ("the District") for the fiscal year ended September 30, 2016. We will audit the financial statements of the g overnmental activities and each major fund, including the related notes to the financial statements, which collectively comprise the basic financial statements of Falcon Trace Community Development District as of and for the fiscal year ended September 30, 2016. In addition, we will examine the District's compliance with the requirements of Section 21 8.415 Florida Statutes. This letterserves to renew our agreement and establish the terms and fee for the 201 6 audit.
Accounting standards generally accepted in the United States of America provide for certain required supplementary information (RSI), such as management's discussion and analysis (MD&A), to supplement the District's basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. As part of our engagement, we will apply certain limited procedures to the District's RSI in accordance with auditing standards generally accepted in the United States of America. These limited procedures will consist of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We will not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.
The following RSI is required by generally accepted accounting principles and will be subjected to certain limited procedures, but will not be audited:
Management's Discussion and Analysis.
2) Budgetary comparison schedule
Audit Objectives
The objective of our audit is the expression of opinions as to whether your financial statements are fairly presented, in all material respects, in conformity with U.S. generally accepted accounting principles and to report on the fairness of the supplementary information referred to in the second paragraph when considered in relation to the financial statements as a whole. Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America and the standards for financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, and will include tests of the accounting records of the District and other procedures we consider necessary to enable us to express such opinions. We will issue a written report upon completion of our audit of the District's financial statements. We cannot provide assurance that an unmodified opinion will be expressed. Circumstances may arise in which it is necessary for us to modify our opinion or add emphasis-of-matter or other-matter paragraphs. If our opinion on the financial statements is other than unmodified, we will discuss the reasons "'(ith you in advance. If, for any reason, we are unable to complete the audit or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.

We wi!! also provide a report (that does not include an opinion) on internai control related to the financial statements and compliance with the provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a material effect on the financial statements as required by Government Auditing Standards. The report on infernal control and on compliance and other matters will include a paragraph that states (1 ) that the purpose of the report is solely to describe t�e scope of testing of internal control and fompliance, ancl the results of that testing , and not to provide ah opinion on the effectiveness of the District's internal control on compliance, and (2) that the report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the District's internal control and compliance. The paragraph will also state that the report is not suitable for any other purpose. If during our audit we become aware that the District is subject to an audit requirement that is not encompassed in the terms of this engagement, we will communicate to management and those charged with governance that an audit in accordance with U.S. generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards may not satisfy the relevant legal, regulatory, or contractual requirements.

raIcon Trai..;t:; Cun 11 11u1 1ity' Dt:vdvi-;11 11:::i ,i Oi;;;�,;ct	Page 2
Examination Objective
The o bjective of our examination is the expression of an opinion as to whether the District is in compliance with Florida Statute

21 8.41 5 in accordance with Rule 1 0.556(10) of the Auditoi General of the State of Florida. Our examination will be conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and will include tests of your records and other procedures we consider necessary to enable us to express such an opinion. 'Ne wm issue a
�vritten report upon completion of our examination of the Distict's compliance. The report 'lJill  include a statement that the

report is intended solely for the information and use of management, those charged with governance, and the Florida Auditor Generai, and is not intended to be and should not be used by anyone other than these specified parties. We cannot provide assurance that an unmodified opinion wm be expiessed. Circumstances may arise in v,hich it is necessaiY for us to modify our opinion or add emphasis-of-matter or oiher-matter paragraphs. If our opinion on the District's compliance is other than unmodified, •Ne will discuss the reasons with you in advance. If, for any reason, we are unable to complete the examination or are unable to form or have not formed an opinion, we may decline to express an opinion or issue a report, or may withdraw from this engagement.
Manii!gement Responsibiiitias

Management is responsible for the financial statements and a!I accompanying information as well as all representations contained therein. Fur.her, management is responsible for compliance with Florida Statute 21 8.41 5 and will provide us with the information required for the examination. The accuracy and completeness of such information is also management's responsibility. As part of the audit, we will assist with preparation of your financial statements and related notes in conformity with U.S. generally accepted accounting principles based on information provided by you. These nonaudit services do not constitute an audit under Government Auditing Standards and such services will not be conducted in accordance with Government Auditing Standards. You agree to assume aii management responsibilities relating to the financial statements and related notes and any other nonaudit services we provide. You will be required to acknowledge in the management representation letter our assistance with preparation of the financial statements and related notes and that you have reviewed and approved the financial statements and related notes prior to their issuance and have accepted responsibility for them. In addition, you will be required to make certain representations regarding compliance with Florida Statute 21 8.41 5 in the management representation letter. Further, you agree to oversee the nonaudit services by designating an individual, preferably from senior management, who possesses suitable skill, knowledge, or experience; evaluate the adequacy and resu lts of those services; and accept responsibility for them.
Management is responsible for establishing and maintaining effective internal controls, including evaluating and monitoring ongoing activities, to help ensure that appropriate goals and objectives are met; following laws and regulations; and ensuring that management is reliable and financial information is reliable and properly reported. Management is also responsible for implementing systems designed to achieve compliance with applicable laws, regulations, contracts, and grant agreements. You are also responsible for the selection and application of accounting principles, for the preparation and fair presentation of the financial statements and all accompanying information in conformity with U.S. generally accepted accounting principles, and for compliance with applicable laws and regulations and the provisions of contracts and grant agreements.
Management is also responsible for making all financial records and related information available to us and for the accuracy and completeness of that information. You are also responsible for providing us with (1 ) access to all information of which you are aware that is relevant to the preparation and fair p resentation of the financial statements, (2) additional information that we may request for the purpose of the audit, and (3) unrestricted access to persons within the government from whom we determine it necessary to obtain audit evidence.

Your responsibilities include adjusting the financial statements to-correct material misstatements and forconfirming to us in the written representation lettei -that the effects of any .uncorrected -misstatements aggregated by us during the current engagement and pertaining to the latest period presented are immaterial, both individually and in the aggregate, to the financial statements taken as a _whole. As part of our engagement, we may propose standard adjusting, or correcting journal entries to youi financial statements. You are responsible for reviewing the entries and understanding the nature of the proposed entries and the impact they have on the financial statements.

You are responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the g overnment involving (1) management, (2) employees who have significant roles in internal control, and (3) others where the fraud could have a material effect on the financial statements. Your responsibilities include informing us of your knowledge of any allegations of fraud or suspected fraud affecting the Qovernment received in communications from empioyees, former employees, granters, regulators, or others. in addition, you aie iesponsible for identifying and ensuring t'iat the government complies with applicable laws, regulations, contracts, agreements, and g;ants and for taking timely and appropriate steps to remedy fraud and noncompliance with provisions of laws, regulations, contracts or grant agreements, or abuse that we report.

Management is responsible for establishing and maintaining a process for tracking the status of audit findings and recommendations.  Management  is  also  responsibie for identifying  and  providing  report  copies  of previous financial  audits, attestation engagsments, peiformanc.e audits or other studies related to the objectives discussed in the Audit O bjectives section of this letter. This responsibility includes relaying to us cofiective actions taken to address significant findings and recommendations resulting from those audits, attestation engagements, performance audits, or other studies. You are also responsible for providing management's views on our current findings, conc�usions, and recommendations, as well as your planned corrective actions, for the report, and for the timing and format for providing that information.

Falcon Trace Community Development District	Page 3

With regard to using the audit's report, you understand that you must obtain our prior written consent to reproduce or use our report in bond offering official statements or other documents.
With regard to the electronic dissemination of audited financial statements, including financial statements published electronically on your website, you understand that electronic sites are a means to distribute information and, therefore, we are not required to read the information contained in these sites or to consider the consistency of other information in the electronic site with the original document.
Audit P rocedures-General
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements; therefore, our audit will involve judgment about the number of transactions to be examined and the areas to be tested. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We will plan and perform the audit to obtain reasonable rather than absolute assurance about whether the financial statements are free of material misstatement, whether from (1) errors, (2) fraudulent financial reporting, (3) misappropriation of assets, or (4)
violations of laws or governmental regulations that are attributable to the government or to acts by management or employees acting on behalf of the government. Because the determination of abuse is subjective, Government Auditing Standards do not expect auditors to provide reasonable assurance of detecting abuse.

Because of the inherent limitations of an audit, combined with the inherent limitations of internal control, and because we will not perform a detailed examination of all transactions, there is a risk that material misstatements may exist and not be detected by us, even though the audit is properly planned and performed in accordance with U.S. generally accepted auditing standards and Government Auditing Standards. In addition, an audit is not designed to detect immaterial misstatements or violations of laws or governmental regulations that do not have a direct and material effect on the financial statements. Our responsibility as auditors is limited to the period covered by our audit and does not extend to later periods for which we are not engaged as auditors.
Our procedures will include tests of documentary evidence supporting the transactions recorded in the accounts, and may include tests of the physical existence of inventories, and direct confirmation of receivables and certain other assets and liabilities by correspondence with selected individuals, funding sources, creditors, and financial institutions. We will request written representations from your attorneys as part of the engagement, and they may bill you for responding to this inquiry. At the conclusion of our audit, we will require certain written representations from you about your responsibilities for the financial statements; compliance with laws, regulations, contracts, and grant agreements; and other responsibilities required by generally accepted auditing standards.
Audit Procedures-Internal Control
Our audit will include obtaining an understanding of the government and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements and to design the nature, timing, and extent of further audit procedures. Tests of controls may be performed to test the effectiveness of certain controls that we consider relevant to preventing and detecting errors and fraud that are material to the financial statements and to preventing and d etecting misstatements resulting from illegal acts and other noncompliance matters that have a direct and material effect on the financial statements. Our tests, if performed, will be less in scope than would be necessary to render an opinion on internal
control and, accordingly, no opinion will be expressed in our report on internal control issued pursuant to Government Auditing Standards.
An audit is not designed to provide assurance on internal control or to identify significant deficiencies or material weaknesses. However, during the audit, we will communicate to management and those charged with governance internal control related matters that are required to be communicated under AICPA professional standards and Government Auditing Standards.
Audit Procedures-Compliance
As part of obtaining reasonable assurance about whether the financial statements are free of material misstatement, we will perform tests ofthe District's compliance with the provisions of applicable laws, regulations, contracts, agreements, and grants. H owever, the objective of our audit will not be to provide an opinion on overall compliance and we will not express such an opinion in our report on compliance issued pursuant to Government Auditing Standards.
Engagement Administration, Fees, and Other
We understand that your employees will prepare all cash or other confirmations we request and will locate any documents selected by us for testing.
The audit documentation for this engagement is the property of Grau & Associates and constitutes confidential information. However, subject to applicable laws and regulations, audit documentation and appropriate individuals will be made available upon request and in a timely manner to a cognizant or oversight agency or its designee, a federal agency providing direct or indirect funding, or the U.S. Government Accountability Office for purposes of a quality review of the audit, to resolve audit findings, or to carry out oversight responsibilities. We will notify you of any such request. If requested, access to such audit documentation will be provided under the supervision of Grau & Associates personnel. Furthermore, upon request, we may provide copies of selected audit documentation to the aforementioned parties. These parties may intend, or decide, to distribute the copies or information contained therein to others, including other governmental agencies. Notwithstanding the foregoing , the parties acknowledge that various documents reviewed or produced during the conduct of the audit may be

Falcon Trace Community Development District	Page 4

public records under Florida law. The District agrees to notify Grau & Associates of any public record request it receives that involves audit documentation.

Our fee for these services will not exceed $3,400 for the September 30, 2016 audit. The fee for each annual renewal will be agreed upon separately.

All accounting records (including, but not limited to, trial balances, general ledger detail, vendor files, bank and trust statements, minutes, and confirmations) for the fiscai year ended September 30, 2016 must be provided to us no later than tv1arch 30, 201 7, in order for us to complete the engagement by June 30, 201 7.

The audit documentation for this engagement will be retained for a minimum of five years after the report release date. If we are aware that a federal awarding agency or auditea is contesting an audit finding, we will contact the party(ies) contesting the audit finding for guidance prior to destroying the audit documentation.

Our invoices for these fees �vm be rendered each month as work progresses and are payable on presentation. Invoices \AJili be submitted in sufficient detail to demonstrate compliance with the terms of this agreement. In accordance with our firm policies, work may be suspended if your account becomes 60 days or more overdue and may not be resumed until your account is paid in full. If we elect to terminate our services for nonpayment, our engagement will be deemed to have been completed upon written notification of termination, even if we have not completed our report. You will be obligated to compensate us for all time expended and to reimburse us for all out-of-pocket costs through the date of termination. The above fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered du;ing the audit. If significant additional time is necessar;, we will discuss it with you and arrive at a new fee estirnate.

This agreement is automatically renewed each year thereafter subject to the mutual agreement by both parties to all terms and fees. The fee for each annual renewal will be agreed upon separately.

We will provide you with a copy of our most recent external peer review report and any letter of comment, and any subsequent peer review reports and letters of comment received during the period of the contract. Our 201 3 peer review report accompanies this letter.

We appreciate the opportunity to be of service to Falcon Trace Community Development District and believe this letter accurately summarizes the significant terms of our engagement. If you have any questions, please let us know. If you agree with the terms of our engagement as described in this letter, please sign the enclosed copy and return it to us.

0

Very truly yours, Grau & Associates

o--;r-�-----

Antonio J. Grau

RESPONSE:
This letter correctly sets forth the understanding of Falcon Trace Community Development District. By:   	
Title:   	
Date:   	

, AICPA)®

PEER REVIEW PRO G·RAM
is proud to present this

Certificate ofRecognition
to

GRAU 8c ASSOCIATES.

For having a system of quality control for its accounting and auditingpractice· in effect for the year ended Jum� 30, 2013 which has been designed to meet the requirements ,of the quality cofitrol standards
for an accounting and auditing practice established by the A/CPA, and which was complied with during the year then ended to provide the firm with reasonable assurance of conforming with professional standards.

�RickR�eeder, Chair AICPAPeerReview Board

2013

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ADDENDUM TO AGREEMENT ("AGREEMENT") BETWEEN FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT ("DISTRICT") AND
GRAU & ASSOCIATES, INC. ("CONTRACTOR")
The following provisions govern the Agreement referenced above:
The Agreement shall be deemed effective as of the date of the full execution of the Agreement and this Addendum.
Contractor understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records, and, accordingly, Contractor agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Contractor acknowledges that the designated public records custodian for the District is Jason Showe ("Public Records Custodian"). Among other requirements and to the extent applicable by law, the Contractor shall 1) keep and maintain public records required by the District to perform the service;
2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if the Contractor does not transfer the records to the Public Records Custodian of the District; and 4) upon completion of the contract, transfer to the District, at no cost, all public records in Contractor's possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the Contractor, the Contractor shall destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.
IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STA TUTES, TO THE CONTRACTOR' S DUTY  TO PROVIDE  PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 841-5524 GFLINT@GMSCFL.COM OR 135 WEST CENTRAL BOULEYARD, SUITE 320, ORLANDO, FLORIDA 32801. 

[Continued on Next Page] Page 1 of 2

To the extent any of the provisions of this Addendum are in conflict with the provisions of the Agreement, this Addendum controls.

GKAU & ASSOCIATES, INC.

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

By:_ 	_

___

By:	

Date:

Its:

Its:-	------
-- -----

_

Date:

----	---
---	---

Page 2 of 2

.

.-

-	-	-·

---------·-·--·-·-·---·	OJ......

---·-··-- ...--------

 	

PROVISION OF LAKE MAINTENANCE SERVICES

AGDRIESETMRIECNTTABNEDTWAQEUEANTTIHCEWFEAELDCMONANTARGAECME ECNOTM, IMNUCN. RITEYGDAERVDEINLGOPTMHE   T

This Ag, r2e0e1m6,ebnyt a(tnhdeb"eAtwgreeeenm: ent") is made and entered into as of this _	_ day of

gFoavlceornmn   TenrtaecestaCbloismhemdupnuirtsyuaDntevtoelCophmapetnert 1D90is,tFrilcotr,ida Slotactaultesu,naitndolfocsapteecdiailn-pOurapnogse FCloournidtya,3F2l8o0ri1d(ah, earnedinwaftheorsethme a"iDliinsgtriacdtd")r;esasndis 135 W. Central Blvd., Suite 320, Orlando,
A12q5u9a, tHicaiWneeseCditMy, aFnloargiedma 3en38t,45In(ch.e, raeinFalftoreirda"Ccoonrtproarcatotiro"n),. whose  address  is  P.O.  Box
RECITALS
construcWtinHgE,REoApSe,ratineg Dainstdr/iocrt   wmaasinteasitnaibnlgishecdertafoinr   itnhfre asptruurpcotusree, ofincplluadninnigng,lafindnsacnacpiinngg,
improvements, recreational facilities and Big Hawk Lake; and
maintenWanHceERseErAvSic, etshefoDr aisltarikcet khnaoswannaese"dBtiog rHeatawink Lanakien"delopceantdeednwt ictohnintrtahcetoDr itsotripcrto; vaindde  lake

contracWtorHaEnRdEhAaSs, aCgroenetdratcotoprrorveipdreestoenthtse tDhiasttrictisucqhuasleirfiveidcesto.

serve as a lake maintenance

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sufficiency ofwhich are hereby acknowledged by the parties, the parties agree as follows:

are incoSrpEoCrTaItOedN i1n.to aRndEfCoIrTmALaSm.

aTtheeriarelcpiatartlsosfothsitsatAedgraereemtreunet.and correct and by this reference

SECTION 2.	DESCRIPTION OF WORK AND SERVICES.
The District desires that the Contractor provide professional lake maintenance services within presently accepted standards. Upon all parties signing this Agreement, the Contractor shall provide the District with the specific services identified in this Agreement.
While providing the services identified in this Agreement, the Contractor shall assign such staff as may be required, and such staff shall be responsible for coordinating, expediting, and controlling all aspects to assure completion ofthe services.

The Contractor shall provide the specific professional services as shown m
Section 3 ofthis Agreement.
SECTION 3.	SCOPE OF LAKE MAINTENANCE SERVICES.
The obligations and responsibilities of the Contractor include conducting twelve
1

inspections per year on a monthly basis and provide the following treatments as necessary to control noxious growth throughout the term of service:
Emerged Vegetation Control	
Floating Vegetation Control
Filamentous Algae Control

The work area for the above services will include the entire lake up to the ordinary high water
area. The only Submerged Vegetation Control to be perfo1med under this Agreement will be the stocking ofsterile triploid grass carp when and ifapproved by the District. Any different form of
Submerged Vegetation Control will not be provided by Contractor, unless approved in a subsequent writing executed by the District and Contractor.
Contractor will provide monthly shoreline grass and brush control services on shorelines located around residences, and quarterly shoreline grass and brush control services for the remainder ofthe shorelines.
If approved by the District in writing and permitted by Florida law, Contractor

shall supply and stock sterile triploid grass carp in order to control growing Hydrilla. The size and quantity of the sterile triploid grass carp to be supplied shall also be approved in advance in writing by the District.
Contractor shall solely be responsible for the means, manner and methods by which its duties, obligations and responsibilities are met to the satisfaction ofthe District.
SECTION 4.	MANNER OF CONTRACTOR'S PERFORMANCE. The Contractor agrees, as
an independent contractor, to undertake work and/or perform such services as specified in this Agreement or any addendum executed by the Paities or in any authorized written work order by
the District issued in connection with this Agreement and accepted by the Contractor. All work shall be performed in a neat and professional manner acceptable to the District and shall be in
accordance with industry standards. The performance ofall services by the Contractor under this Agreement and related to this Agreement shall confmm to any written instructions issued by the District.
Should any work and/or services be required which are not specified in this Agreement or any addenda, but which are nevertheless necessary for the proper provision of
services to the District, such work or services shall be fully perfmmed by the Contractor as if described and delineated in this Agreement.

work

The Contractor agrees that the District shall not be liable for the payment of any or services not included in Section 3 of this Agreement unless the District, through an

authorized representative of the District, authorizes the Contractor, in writing, to perform such work.
The District shall designate in writing a person to act as the District's representative with respect to the services to be performed under this Agreement. The District's
2

representative shall have complete authority to transmit instructions, receive information, interpret and define the District's policies and decisions with respect to materials, equipment, elements, and systems pertinent to the Contractor's services.
The District hereby designates the District Manager to act as its representative.
Upon request by the District Manager, the Contractor agrees to meet with the District's representative to walk the property to discuss conditions, schedules, and items of concern regarding this Agreement.
Contractor shall use all due care to protect the property of the District, its residents, and landowners from damage. Contractor agrees to repair any damage resulting from Contractor's activities and work within twenty-four (24) hours.
SECTION 5.	COMPENSATION; TERM.
As compensation for services described in this Agreement, the District agrees to
pay the Contractor $300.00 per month for the maintenance services described in Section 3 herein.  The stocking of sterile triploid grass carp shall not exceed $6.00 per fish. Work shall
commence on October 1, 2016 and end September 30, 2019, unless this Agreement is otherwise terminated pursuant to the terms of this Agreement. The Contractor acknowledges that the prices
of this Agreement are firm through the original term, and that the Contractor may propose to change the prices at the time of any renewal of this Agreement, but only with the District's written consent.
If the District should desire additional work or services, including sterile triploid grass carp stocking or chemical treatments, or to add additional lands to be maintained, the

Contractor agrees to negotiate in good faith to unde1iake such additional work or services. Upon successful negotiations, the Parties shall agree in writing to an, addendum, addenda, or change
order to this Agreement. The Contractor shall be compensated for such agreed additional work or services based upon a payment amount acceptable to the Parties and agreed to in writing.
The District may require, as a condition precedent to making any payment to the
Contractor that all subcontractors, materialmen, suppliers or laborers be paid and require evidence, in the form of Lien Releases or partial Waivers of Lien, to be submitted to the District
by those subcontractors, material men, suppliers or laborers, and further require that the Contractor provide an Affidavit relating to the payment of said indebtedness. Further, the
District shall have the right to require, as a condition precedent to making any payment, evidence from the Contractor,  in a form satisfactory to the  District,  that any  indebtedness  of the
Contractor, as to services to the District, has been paid and that the Contractor has met all of the obligations with regard to the withholding and payment of taxes, Social Security payments,
Workmen's Compensation, Unemployment Compensation contributions, and similar payroll deductions from the wages ofemployees.
The Contractor shall maintain records conforming to usual accounting practices.
3

As soon as may be practicable at the beginning of each month, the Contractor shall invoice the District for all services perfmmed in the prior month and any other sums due to the Contractor. The District shall pay the invoice amount within thirty (30) days after the receipt thereof.
SECTION 6.	INSURANCE.
The Contractor shall maintain throughout the term of this Agreement the following insurance:
Worker's Compensation Insurance in accordance with the laws of the State of Florida.
Commercial General Liability Insurance covering the Contractor' s legal liability for bodily injuries, with limits of not less than $1,000,000 combined single limit bodily injury and property damage liability, and covering at least the following hazards:
Independent Contractors Coverage for bodily injury and property damage in connection with subcontractors' operation.
Employer's Liability Coverage with limits of at least $1,000,000 (one million dollars) per accident or disease.
Automobile Liability Insurance for bodily injuries in limits ofnot less than
$1,000,000 combined single limit bodily injury and for property damage, providing coverage for any accident arising out of or resulting from the operation, maintenance, or use by the Contractor of any owned, non­ owned, or hired automobiles, trailers, or other equipment required to be licensed.
The District, its staff, consultants and supervisors shall be named as an additional insured. The Contractor shall furnish the District with the Certificate of Insurance evidencing compliance with this requirement. No certificate shall be acceptable to the District unless it provides that any change or te1mination within the policy periods of the insurance coverages, as certified, shall not be effective within thirty (30) days of prior written notice to the District. Insurance coverage shall be from a reputable insurance carrier, licensed to conduct business in the State of Florida, and such canier shall have a Best' s Insurance Reports rating of at least A­ VII.
If the Contractor fails to have secured and maintained the required insurance, the District has the right (without any obligation to do so, however), to secure such required insurance in which event, the Contractor shall pay the cost for that required insurance and shall furnish, upon demand, all information that may be required in connection with the District's obtaining the required insurance.
SECTION 7.	INDEMNIFICATION,

4

Obligations under this section shall include the payment of all settlements, judgments, damages, liquidated damages, penalties, forfeitures, back pay awards, court costs,
arbitration and/or mediation costs, litigation expenses, attorney fees, paralegal fees and expert witness fees (incurred in court, out ofcourt, on appeal, or in bankruptcy proceedings) as ordered.
Contractor agrees to defend, indemnify, and hold harmless the District and its
officers, agents and employees from any and all liability, claims, actions, suits or demands by any person, corporation or other entity for injuries, death, property damage or of any nature,
arising out of, or in connection with, the work to be perfo1med by Contractor, including litigation or any appellate proceedings with respect thereto. Contractor further agrees that nothing herein
shall constitute or be construed as a waiver of the District's limitations on liability contained in section 768.28, Florida Statutes, or other law.
SECTION 8.	COMPLIANCE   WITH  GOVERNMENTAL   REGULATION.	The Contractor
shall keep, observe, and perform all requirements of applicable local, State, and Federal laws, rules, regulations, or ordinances. If the Contractor fails to notify the District in writing within
five (5) days of the receipt of any notice, order, required to comply notice, or a report of a
violation or an alleged violation, made by any local, State, or Federal governmental body or agency or subdivision thereof with respect to the services being rendered under this Agreement
or any action ofthe Contractor or any ofits agents, servants, employees, or materialmen, or with
respect to terms, wages, hours, conditions of employment, safety appliances, or any other requirements applicable to provision of services, or fails to comply with any requirement of such
agency within five (5) days after receipt of any such notice, order, request to comply notice, or report of a violation or an alleged violation, the District may te1minate this Agreement, such termination to be effective upon the giving ofnotice of termination.
SECTION 9.	LIENS AND CLAIMS. The Contractor shall promptly and properly pay for all labor employed, materials purchased, and equipment hired by it to perform under this
Agreement. The Contractor shall keep the District's property free from any materialmen's or mechanic's liens and claims or notices in respect to such liens and claims, which arise by reason
of the Contractor's performance under this Agreement, and the Contractor shall immediately discharge any such claim or lien. In the event that the Contractor does not pay or satisfy such
claim or lien within three (3) business days after the filing of notice thereof, the District, in addition to any and all other remedies available under this Agreement, may terminate this Agreement to be effective immediately upon the giving notice of termination.
default SbEyCeTiIthOeNr 1p0a.rtyDuEnFdAeUrLtThiAs NADgPreReOmTeEnCt TshIOaNll AenGtiAtlIeNStTheToHtIhReDr tPoAaRlTl YreImNeTdEiResFEaRvEaiNlaCbEl.e Aat
law or in equity, which may include, but not be limited to, the right of damages, injunctive reiief, and/or specific performance. The District shall be solely responsible for enforcing its rights
under this Agreement against any interfering third party. Nothing contained in this Agreement shall limit or impair the District's right to protect its rights from interference by a third party to this Agreement.
SECTION 11.	CUSTOM AND USAGE. It is hereby agreed, any law, custom, or usage to the  contrary  notwithstanding,  that  the  District  shall  have  the  right  at  all  times  to  enforce  the
5

conditions and agreements contained in this Agreement in strict accordance with the terms of this Agreement, notwithstanding any conduct or custom on the part of the District in refraining from
so doing; and further, that the failure of the District at any time or times to strictly enforce its rights under this Agreement shall not be constrned as having created a custom in any way or
manner contrary to the specific conditions and agreements ofthis Agreement, or as having in any way modified or waived the same.
SECTION 12. SUCCESSORS. This Agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators, successors, and assigns of the Parties to this Agreement, except as expressly limited in this Agreement.
SECTION 13.	TERMINATION.	The Contractor may terminate this Agreement with or
without cause by providing sixty (60) days written notice of termination to the District; provided, however, that the District shall be provided a reasonable oppmtunity to cure any failure under
this Agreement.	The District may terminate this Agreement immediately with cause by
providing written notice of te1mination to the Contractor. The District may terminate this
Agreement without cause upon thirty (30) days written notice of termination. Upon any termination of this Agreement, the Contractor shall be entitled to payment for all work and/or
services rendered up until the effective termination of this Agreement, subject to whatever claims or off-sets the District may have against the Contractor.
SECTION 14.	PERMITS  AND  LICENSES.	All permits and licenses required by any
governmental agency directly for the District shall be obtained and paid for by the District. All other permits or licenses necessary for the contractor to perform under this Agreement shall be obtained and paid for by the Contractor.
SECTION 15. ASSIGNMENT. Neither the District nor the Contractor may assign this Agreement without the prior written approval of the other. Any purpmted assignment without such prior written approval shall be void.
SECTION 16. INDEPENDENT CONTRACTOR STATUS. In all matters relating to this Agreement, the Contractor shall be acting as an independent contractor. Neither the Contractor
nor employees of the Contractor, if there are any, are employees of the District under the meaning or application of any Federal or State Unemployment or Insurance Laws or Old Age
Laws or otherwise. The Contractor agrees to assume all liabilities or obligations imposed by any one or more of such laws with respect to employees of the Contractor, if there are any, in the
performance of this Agreement. The Contractor shall not have any authority to assume or create any obligation, express or implied, on behalf of the District and the Contractor shall have no

authority to represent the District as an agent, employee, or in any other capacity, unless otherwise set forth in this Agreement.
SECTION 17.	HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this
Agreement are for convenience only and shall neither control nor affect the meaning or construction of any ofthe provisions of this Agreement.

the

SECTION 18.	ENFORCEMENT OF AGREEMENT. In the event that either the District or Contractor is required to enforce this Agreement by comt proceedings or otherwise, then the
6

prevailing party shall be entitled to recover all fees and costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.
SECTION 19. AGREEMENT. This instrument shall constitute the final and complete expression of this Agreement between the District and the Contractor relating to the subject matter of this Agreement.
SECTION 20. AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both the District and the Contractor.
SECTION 21. AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Contractor, both the District

and the Contractor have complied with all the requirements of law, and both the District and the Contractor have full power and authority to comply with the terms and provisions of this instrument.
SECTION 22. NOTICES. All notices, requests, consents and other communications under this Agreement ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the paiiies, as follows:

If to the District:

With a copy to:

If to the Contractor:

Falcon Trace Community Development District 135 W. Central Blvd., Suite 320
Orlando, Florida 32801 Attn: District Manager
Hopping Green & Sams, P.A. 119 S. Monroe Street, Suite 300
Tallahassee, Florida 32301 Attn: Michael C. Eckert
Aquatic Weed Management, Inc.
P.O. Box 1259
Haines City, Florida 33845 Attn: Bill Snively

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the

place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non­
business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be
regarded as business days. Counsel for the District and counsel for the Contractor may deliver Notice on behalf of the District and the Contractor. Any patiy or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or
address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein.
7

SECTION 23. THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the District and the Contractor and no right or cause of action shall accrue upon or by reason,
to or for the benefit of any third party not a formal party to this Agreement. Nothing in this
Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the District and the Contractor any right, remedy, or claim under or by
reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to
the sole benefit of and shall be binding upon the District and the Contractor and their respective representatives, successors, and assigns.
SECTION 24. CONTROLLING LAW. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida.
SECTION 25. PUBLIC RECORDS. Contractor understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records, and, accordingly, Contractor agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Contractor acknowledges that the designated public records custodian for the District is Jason Showe ("Public Records Custodian"). Among other requirements and to the extent applicable by law, the Contractor shall 1) keep and maintain public records required by the District to perform
the service; 2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if the Contractor does not transfer the records to the Public
Records Custodian of the District; and 4) upon completion of the contract, transfer to the District, at no cost, all public records in Contractor's possession or, alternatively, keep, maintain and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the Contractor, the Contractor shall destroy any
duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF formats.
IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STA TUTES, TO THE CONTRACTOR' S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 841-5524, JSHOWE@GMSCFL.COM,	OR	C/0 GOVERNMENTAL MANAGEMENT SERVICES, CENTRAL FLORIDA, 135 W. CENTRAL  BLVD., SUITE 320, ORLANDO, FLORIDA 3280 1. 
8

SECTION 26. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.
SECTION 27. ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Contractor as an arm's length transaction. The District and the Contractor participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen, and selected the language, and any doubtful language will not be interpreted or construed against any party.
SECTION 28. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument.

IN WITNESS WHEREOF, the parties hereto have signed this Agreement on the day and year first written above.

ATTEST:

Secretary

Witness:

(Signature of Witness) (Print Name of Witness)

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

Chairman, Board of Supervisors

AQUATIC WEED MANAGEMENT, INC.

By: 		 		 	

Its:-	-----	-----

9

 	 	

 	

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OF LANDSCAPE AND IRRIGATION MAINTENANCE SERVICES

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_

___T_his_Agr,e2e0m1e6n, tby(tahned "bAetgwreenm: ent")  is  made  and  entered  into  this	day  of
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RECITALS
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improvements, recreational facilities and Big Hawk Lake; and

Lake Recreation Center;" and

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Maintenance Specifications.

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sufficiency of which are hereby acknowledged by the parties, the parties agree as follows:

are incoSrpEoCrTaItOedN i1n.to aRndECfoIrTmALaSm.

aTtheeriarelcpiatartlsosfothsitsatAedgraereemtreunet.and correct and by this reference

Agreement and related to this Agreement shall conform to any written instructions.

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coofnaflolrmsertoviacneys wbyrittthene iCnsotrnutrcatciotonrs uisnsdued bthyisthAe gDriesetmricetn. t  and  related  to  this  Agreement  shall

Agreement.

SthhisouAldgraeneymewnotrokr aanndy/oardsdeernvdiac,esbubtewrehqicuhirearde wnhevicehrthaerelesnsotnescpeescsiafireydfoinr tbheefuprlolypeprerpfroorvmiseidonbvofthse CviocnestratocttohreaDs iisftrdiecst,crsiubcehdwanodrkdoerlinseeravtiecdesinshthailsl
TofheaCnyontwraocrtkor oargrseersvtihcaets thuenlDesis ritchteshDailsltnrioctt,bethlriaobulgehfoarnthaeupthayomrizeendt rpeeprrfoesrmentsautcivhewoofrkt.he  District,  authorizes  the  Contractor,  in  writing,  to
TrehpereDseinstaitcivt eshwalilthderseisgpneactte tion twheritsienrgviacepsertsoonbetopearcft01ams etdheunDdisetrritcht'is trAagnrsememitenitn. stTruhcetiDoinsst,ricrte'scerievperesiennfotartmivaetisohna,ll ihnatveerpcroetmpalnedte aduetfihonreitythtoe eDliesmtreicntt'ss, apnodliscyiesstemansdpedreticniesinotntso twheithCornetsrpaecctot r'tos smeravtiecreisa.ls,  equipment,
rTehpereDseinstaitcivt eh.ereby designates the  District Manager to  act as  its
lTehses Cthoanntroancetor( 1a)gtriemesetpoemr emeot nwthithtothwe aDlkisttrhicet'psroreppertysetnotadtiivsecunsos
cAognrdeietmioenns,t.  schedules,   and   items   of   concern   regarding   this
CInonthtreacetovrenatgtrheaets ttiomereisschleodsut leduietstoemhpelaovyyeersainasnd("dRiaviindeDtahyesi"r),titmhe saacmcoerdwinegelky atos acnoympRlaeitne aDllayssc.heTduhleedCsoenrtvraiccetos rdsuhrianllgptrhoevtiidmeesedruvriicnegs tohne SonatSurudnadyasyisf. needed to make up Rain Days, but shall not provide services
rCeosnidtreancttso, rasnhdallanudseowalnledrus efrcoamredtaomparogtee.ctCthoentprarcotpoerrtaygroefetshetoDriesptraiicrt,anitys d(2a4m)ahgoeurress. ulting from Contractor's activities and work within twenty-four
LandscaSpEeCTMIOaNin4te. nanCceOMSPpEeNciSfiAcTaItOioNn.s, IntheexcDhaisntgriectfosrhparlol vmidainkge thmeosnetrhvliycespaidyemnetinftisedtoin the

CthoentDraiscttroirctinwthitehama omunotntohfl-----cy  i�nv�oic------ce  b,------,,efo,-r---e-----,,-th-e  �last------cd(a$y_o-=-f e-----,ach ,----,c·onCtroancttruaacltosresrhvaicllepmroovnidthe
rthepirrteys(e3n0ti)ndgatyhseomf orenctehilpytionfstsaalmlmee. nt due for that month. All invoices are due and payable within effectiveSEthCrToIuOgNh5S.epteTmEbReMr .30T, hi20s 1A9gurneleemssentet1mshianlal tceodminmaecnccoerdoannOcecwtoibtherth1i,s2A0g1 6reaenmdensht.all be
SECTION 6.	INSURANCE.

2

The Contractor shall maintain throughout the term of this Agreement the following insurance:

( )

Worker's Compensation Insurance in accordance with the laws of the State of Florida.
Commercial Generar Liability Insurance covering the Contractor's legal liability for bodily injuries, with limits of not less than $1,000,000
combined single limit bodily injmy and prope1ty damage liability, and covering at least the following hazards:

( )

Independent Contractors Coverage for bodily injury and property damage in connection with subcontractors' operation.
Employer's Liability Coverage with limits of at least $1,000,000 (one million dollars) per accident or disease.
(4)	Automobile Liability Insurance for bodily injuries in limits ofnot less than
$1,000,000 combined single limit bodily injury and for property damage,
providing coverage for any accident arising out of or resulting from the
operation, maintenance, or use by the Contractor of any owned, non­ owned, or hired automobiles, trailers, or other equipment required to be licensed.
The District, its staff, consultants and supervisors shall be named as an additional insured. The Contractor shall furnish the District with the Certificate of Insurance evidencing
compliance with this requirement.	No certificate shall be acceptable to the District unless it provides that any change or termination within the policy periods of the insurance coverages, as
certified, shall not be effective within thirty (30) days of prior written notice to the District. Insurance coverage shall be from a reputable insurance canier, licensed to conduct business in
the State of Florida, and such canier shall have a Best's Insurance Reports rating of at least A­ VIL
If the Contractor fails to have secured and maintained the required insurance, the
District has the right (without any obligation to do so, however), to secure such required insurance in which event, the Contractor shall pay the cost for that required insurance and shall
furnish, upon demand, all information that may be required in connection with the District's obtaining the required insurance.
SECTION 7.	INDEMNIFICATION.
Obligations under this section shall include the payment of all settlements, judgments, damages, liquidated damages, penalties, forfeitures, back pay awards, court costs, arbitration and/or mediation costs, litigation expenses, attorney fees, paralegal fees and expert witness fees (incuned in court, out ofcourt, on appeal, or in bankmptcy proceedings) as ordered.
3

Contractor agrees to defend, indemnify, and hold harmless the District and its officers, agents and employees from any and all liability, claims, actions, suits or demands by
any person, corporation or other entity for injuries, death, property damage or of any nature, arising out of, or in connection with, the work to be performed by Contractor, including litigation
or any appeiiate proceedings with respect thereto. Contractor further agrees that nothing herein shall constitute or be construed as a waiver of the District's limitations on liability contained in section 768.28, Florida Statutes, or other law.
SECTION 8.	COMPLIANCE   WITH   GOVERNMENTAL   REGULATION.	The Contractor
shall keep, observe, and perform all requirements of applicable local, State, and Federal laws,
rules, regulations, or ordinances. If the Contractor fails to notify the District in writing within five (5) days of the receipt of any notice, order, required to comply notice, or a report of a
violation or an alleged violation, made by any local, State, or Federal governmental body or agency or subdivision thereof with respect to the services being rendered under this Agreement
or any action of the Contractor or any of its agents, servants, employees, or materialmen, or with respect to te1ms, wages, hours, conditions of employment, safety appliances, or any other
requirements applicable to provision of services, or fails to comply with any requirement of such agency within five (5) days after receipt of any such notice, order, request to comply notice, or
report of a violation or an alleged violation, the District may terminate this Agreement, such termination to be effective upon the giving of notice of termination.
SECTION 9.	LIENS AND CLAIMS. The Contractor shall promptly and properly pay for
all labor employed, materials purchased, and equipment hired by it to perform under this Agreement. The Contractor shall keep the District's property free from any materialmen's or
mechanic's liens and claims or notices in respect to such liens and claims, which arise by reason of the Contractor's performance under this Agreement,  and the Contractor shall immediately
discharge any such claim or lien. In the event that the Contractor does not pay or satisfy such claim or lien within three (3) business days after the filing of notice thereof, the District, in
addition to any and all other remedies available under this Agreement, may terminate this Agreement to be effective immediately upon the giving notice of te1mination.
SECTION 10.	DEFAULT  AND  PROTECTION  AGAINST  THIRD  PARTY  INTERFERENCE.    A
default by either party under this Agreement shall entitle the other to all remedies available at
law or in equity, which may include, but not be limited to, the right of damages, injunctive relief,
and/or specific performance. The District shall be solely responsible for enforcing its rights under this Agreement against any interfering third party.  Nothing contained in this Agreement
shall limit or impair the District's right to protect its rights from interference by a third party to this Agreement.
SECTION 11.	CUSTOM AND USAGE. It is hereby agreed, any law, custom, or usage to the contrary notwithstanding, that the District shall have the right at all times to enforce the
conditions and agreements contained in this Agreement in strict accordance with the terms of this
Agreement, notwithstanding any conduct or custom on the part of the District in refraining from so doing; and further, that the failure of the District at any time or times to strictly enforce its rights under this Agreement shall not be construed as having created a custom in any way or
4

mam1er contrary to the specific conditions and agreements of this Agreement, or as having in any way modified or waived the same.
SECTION 12. SUCCESSORS. This Agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators, successors, and assigns of the Paiiies to this Agreement, except as expressly limited in this Agreement.
SECTION 13.	TERMINATION.	The Contractor may terminate this Agreement with or
without cause by providing sixty (60) days written notice of termination to the District; provided, however, that the District shall be provided a reasonable opportunity to cure any failure under
this Agreement. The District may terminate this Agreement inlmediately with cause by providing written notice of termination to the Contractor. The District may terminate this
Agreement without cause upon thirty (30) days written notice of termination. Upon any termination of this Agreement, the Contractor shall be entitled to payment for all work and/or
services rendered up until the effective termination of this Agreement, subject to whatever claims or off-sets the District may have against the Contractor.
SECTION 14.	PERMITS   AND  LICENSES.	All permits and licenses required by any
governmental agency directly for the District shall be obtained and paid for by the District. All other permits or licenses necessary for the contractor to perform under this Agreement shall be obtained and paid for by the Contractor.
SECTION 15. ASSIGNMENT. Neither the District nor the Contractor may assign this Agreement without the prior written approval of the other. Any purported assignment without such prior written approval shall be void.
SECTION16. INDEPENDENT CONTRACTOR STATUS. In all matters relating to this Agreement, the Contractor shall be acting as an independent contractor. Neither the Contractor
nor employees of the Contractor, if there are any, are employees of the District under the meaning or application of any Federal or State Unemployment or Insurance Laws or Old Age
Laws or otherwise. The Contractor agrees to assume all liabilities or obligations imposed by any one or more of such laws with respect to employees of the Contractor, if there are any, in the
performance of this Agreement. The Contractor shall not have any authority to assume or create any obligation, express or implied, on behalf of the District and the Contractor shall have no
authority to represent the District as an agent, employee, or in any other capacity, unless otherwise set forth in this Agreement.
SECTION 17. HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall neither control nor affect the meaning or construction ofany of the provisions of this Agreement.
SECTION 18.	ENFORCEMENT OF AGREEMENT.   In the event that either the  District or
the Contractor is required to enforce this Agreement by court proceedings or otherwise, then the prevailing party shall be entitled to recover all fees and costs incurred, including reasonable
attorneys' fees, paralegal fees and expert witness fees and costs for trial, alternative dispute resolution, or appellate proceedings.
5

SECTION 19. AGREEMENT. This instrument shall constitute the final and complete expression of this Agreement between the District and the Contractor relating to the subject matter ofthis Agreement.
SECTION 20. AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both the District and the Contractor.
SECTION 21. AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Contractor, both the District and the Contractor have complied with all the requirements of law, and both the District and the Contractor have full power and authority to comply with the terms and provisions of this instrument.
SECTION 22. NOTICES. All notices, requests, consents and other communications under this Agreement ("Notices") shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delive1y service, to the parties, as follows:

If to the District:

With a copy to:

If to the Contractor:

Falcon Trace Community Development District 135 W. Central Blvd., Suite 320
Orlando, Florida 32801 Attn: District Manager
Hopping Green & Sams, P.A. 119 S. Monroe Street, Suite 300 Post Office Box 6526 Tallahassee, Florida 323 14 Attn: Michael C. Eckert
REW Custom Landscape, LLC 1469 North New York Street Sanford, Florida 32771
Attn: Richard Wesley

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5: 00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non­ business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the District and counsel for the Contractor may deliver Notice on behalf of the District and the Contractor. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein.
6

SECTION 23.	THIRD  PARTY BENEFICIARIES.   This Agreement is solely for the benefit
of the District and the Contractor and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this
Agreement expressed or implied is intended or shall be constmed to confer upon any person or corporation other than the District and the Contractor any right, remedy, or claim under or by
reason of this Agreement or any of the provisions or conditions ofthis Agreement; and all ofthe provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and the Contractor and their respective representatives, successors, and assigns.
SECTION 24. CONTROLLING LAw. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida.
SECTION 25.	PUBLIC RECORDS. Contractor understands and agrees that all documents
of any kind provided to the District in connection with this Agreement may be public records, and, accordingly, Contractor agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to Section 119.0701, Florida Statutes. Contractor acknowledges that the designated public records custodian for the District is Jason Showe ("Public Records Custodian"). Among other requirements and to the extent applicable by law, the Contractor shall 1) keep and maintain public records required by the District to perform the service; 2) upon request by the Public Records Custodian, provide the District with the requested public records or allow the records to be inspected or copied within a reasonable time period at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes; 3) ensure that public records which are exempt or confidential, and exempt from public records disclosure requirements, are not disclosed except as authorized by law for the duration of the contract term and following the contract term if the Contractor does not transfer the records to the Public Records Custodian of the District; and 4) upon completion of the contract, transfer to the
District, at no cost, all public records in Contractor's possession or, alternatively, keep, maintain
and meet all applicable requirements for retaining public records pursuant to Florida laws. When such public records are transferred by the Contractor, the Contractor shall destroy any
duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the District in a format that is compatible with Microsoft Word or Adobe PDF fonnats.
IF THE CONTRACTOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STA TUTES, TO THE CONTRACTOR' S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 841-5524, JSHOWE@GMSCFL.COM, OR C/O GOVERNMENTAL MANAGEMENT SERVICES, CENTRAL FLORIDA, 135 W. CENTRAL BLVD., SUITE 320, ORLANDO, FLORIDA 32801. 
7

SECTION 26.	SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining
portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.
SECTION 27.	ARM'S LENGTH TRANSACTION.	This Agreement has been negotiated
fully between the District and the Contractor as an arm's length transaction. The District and the Contractor participated fully in the preparation of this Agreement with the assistance of their
respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are each deemed to have drafted, chosen, and selected the language, and any doubtful language will not be interpreted or construed against any party.

counterparts together shall constitute, but one and the same instrument.

counterSpaErCtsT,IOeaNch28o.f wChOicUhNTwEhRePnAeRxTeSc.uteTdhaisndAdgerleivemeredtshmaalyl bbeeanexoerciguitnedal;inhoawneyvenru,malblesrucohf and yeaIrNfirWst IwTrNittEenSSabWovHe.EREOF,  the parties hereto have signed this Agreement on the day

ATTEST:

Secretary	

Witness:

(Signature  of Witness)	

(Print Name ofWitness)	

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT

Chairman, Board of Supervisors	

REW CUSTOM LANDSCAPE, LLC

_	_	

By:_
Its:--	---------	-

Exhibit A	Landscape Maintenance Specification

8

.  Exhibit A

Landscape Maintenance Specificatio11s

GffVERI.'1¥.tENTFALalcoMn ATNraAcGe CEDMED NT SERVICES

Landscape Maintenance Specifications

The Contractor shall provide at his own risk and cost nll labor, materials, tools, equipment, transportation, hauling, dumping, fertilizers, insecticides, chemicals and other items needed to perform the landscape maintenance work according to the following specifications:
Jurf Care
Mowing

The mowing of all turf areas on the property no less than once each seven days in t11e heavy growing season 42 cuts per year minimum

Mowing in the winter months will be regulated on an as-needed basis, but not less than once per month.
Mowing height to be based on reasonability and what horticultural correct for the turf variety and conditions. However in no instance will the mowing heights be less than 3" nor shall more than 1/3 of left blade be removed at nny cutting.

The edging of all walks and other paved areas will be performed weekly during heavy growing season, and no less than monthly during the winter months. The edging of nU bed areas will be performed on nn·as-needed basis.
Groundcover
Pruning & Edging

Edge or prune groundcover as needed to keep from spreading over walks, curbs, or up walls. Pruning to maintain a natural shape will be a continuous operation.
Weed.Control
Keep reasonably weed free from broadleaf and grassy weeds with respect to the site conditions and the time of year. This shall be obtained through the use of pre-emergeI1t, selective contact herbicides and manual weeding.

Fertilizer
Fertilizer shall be applied (3) times per year. A standard non-burning commercial turf fertilizer shall be used at a rate of (I) pound of actual nitrogen per 1,000 squ11re feet. Fertilizershall be watered in after each application at the next regular watering period.

Shrub Care
Pruning
Prune to maintain a natural, organic shape as a continuous operation, but not when the plant is in flower.
Weed Growth 1md Debris

Shrub beds will be kept reasonably weed free with respect to site conditions and the time of year. This will be obtained through the use of Pre-emergents, selective contact herbicides nnd manual weeding.
Spent flowers, leaves and any other Jnndscape debris (i,e., Clippings) shall be removed from plant areas every other week unless heavier accumulation requires weekly removal.

Replacement of plants due to circumstances beyond the Contractors control, (i.e., acts of God, vandalism, drought, freeze, storm damage or poor drainage) shall be at the owner's expense. Replacement. required through the negligence of the Contractor shall be at the Contractors expense.
Tree Car�

Pruning

All trees on the work site shall be maintained in their natural shapes, whether specifically mentioned or not. Trees shall be pruned in a manner to select and develop permanent scaffold branches that are smaller in diameter than the trunk to branch to which they are attached; to provide radical orientation so as not to overlay op another:; to eliminate narrow "V" shaped brunch forks that lack strength; to reduce toppling and wind damage by thinning out crowns; to maintain growth within space limitations and to balance the crown with roots.
AU pruning cuts will be made flush. "Stubbing" will not be permitted. Pruning for general clean up of trees is recommended inthe winter or fall. Tree p1111ling is limited to trees 12 feet, or less, in height.

Stakinga�d Guying,.
Trees shall be inspected for staking and guying.
Tree Basins	
A cleared circle shall be maintained at the base of trees to reduce competition for nutrients by lawns and groundcovers, and to prevent damage from mowing equipment.
Qwner Awarene�
Dead plants and those in a state of decline shall be brought to the Owner's attention.

Communication

It is recommended tllat monthly walk-thru's during regular working hours be scheduled with the District's representative and Contractors representative. Each visit to community a crew supervisor must check in and out with management. A fom1 will be provided for work- completed during each visit and acopy leftwith management.
Litter Control

Paper, grass, cans and branches shall be removed from the landscape areas 011 a weekly basis.
All walkways shall be kept clear of deb1is from the maintenance operation.

Mulch wi.U be replaced one (1) time a year using mini pine nuggets.

Work not inclndeq
The following items would be an "extra" to this contract but can be perfonned under separate contract with Owner's prior authorization:

The Sweeping ofparking areas and driveways except for the clean-up of debris generated from our work.

Contractor will not furnish or plant additional trees, shrubs, groundcovers, vines or seasonal flowers under this contract.
Deep feeding of trees requiring supplemental fertilization for growth and development.
Pruning of trees over 12 feet tall

Spraying for tree disease and insect control above 10 feet.
Hand watering of turf areas or individual planters.
111e labor and materials to supply annual color.

.Specialized staking and guying of trees.
Jrrigntlon (included in contract)
Contractor will activate each zone and inspect the inigation system monthly for broken or clogged heads, malfunctioning or leaking vnlves, or any other condition which hampers the correct operation of the system. Authorization for work not covered by this contract will be requested unless emergencyrepairs are necessary.

Due to the nature of some Fungus and Diseases, it may be necessary to adjust the irrigation systems. Repairs are to be made at an acceptable hourly rate plus the cost of materials.
Contractor to repair/correct malfunction of valves, sprinklers or irrigation lines at
Owner's expense with prior approval unless due to Contractor's negligence. Technician rate for irrigation work is iss.oo per hom· plus parts.

Mulch Touch up � $35.00 Yard

 	 	 	

...

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Falcon Trace
Community Development District

Check Register Summary

June 14, 2016 to August 9, 2016

Fund

Date

Check No.'s

Amount

6/16/16		$	387.50	
6/17/16 	3425	$	1,643.22	
6/23 /16	3426-3427	$	766.91	
6/28 /16 	3428	$	12,357.60	
6/30 /16 	3429-3431	$	3,972.77	
7/8/16 	3432-3435	$	5,632.02	
7/12/16	3436	$	7,027.30	
7/14/16	3437	$	432.11	
7/20/16	3438	$	7,546.69	
7/21/ 16		$	813.80	
7/25/16	3440	$	902.13	
7/27/16	3441	$	7,979.13	
7/28/16 	3442-3444	$	2,586.93	
8/4/16 	3445-3447	$	3,963.95	
8/7/16 	3448	$	5,949.84	
		$	61,961.90	

General Fund

3439

Payroll

Tuly 2016

Andrew Gammon	50245	$	184.70	
Carole Miller	50246	$	184.70	
Kathy Stark	50247	$	184.70	
Sara Hurst	50248	$	184.70	
Susan Baron	50249	$	184.70	
		$	923.50	

4'

"'

62,sss.40 I

CHECK  DATES   06/14/2016   -   08/09/2016   ****** 

AP30 0R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER FALCON TRACE CDD -GENERAL FUND
BANK A FALCON TRACE CDD

RUN	8/09/16 

PAGE	1

CHECK	VEND#	. . . . . INVOICE ..  . . . .    . . . EXPENSED  TO . . .		VENDOR NAME DATE			DATE	INVOICE	YRMO	DPT  ACCT#  SUB	SUBCLASS

STATUS

AMOUNT

. . . . CHECK . . . . . 
AMOUNT	#

6/16/16 00019 

6/17/16 00054 

5/31/16 2735986	201605 310 -51300-48000 
5/3 1/16   2N7m3 5r9IC8E6  O 2F0M1 E6 E0 T5 IN3G1 0--5 5/ 10 39 0/01 -6 48000 
Nmr . -SUPERVSR QUAL . PERIOD	ORLANDO SENTINEL

- - - - - - - - - - - - - - - -

6/16/16 06162016 201606 300 -20700-10000 

*	203 . 7 5
*	183 . 75

*	1, 643 .2 2

387 .5 0 003424 

6/23/16 00001 

- - -
- - - -

FYJ.6  DEBT SERVICE ASSESS	FALCON TRACE CDD C/O US BANK

6/13 /16 S-86622	201606 32 0-5380 0-47600 

*
R-EP-A-IR  CARD  READER	ACCESS   CONTROL  TECHNOLOGIES

93 .9 6

1, 643 .2 2 003425 

93 .9 6 003426 

6/23/16 00022 

6/02/16 292240 

-  -  -  - - - - - -  - - -
201606 320-53800 -47400 

*	169 .9 5

l0 OLB DRUM-CYANURIC ACID
6/02/16 292524	201606 320-53800-47400 

*	503 .0 0

- - - -

B-UL-K  BLEACH-300	SPIES   POOL ,   LLC

672 .9 5 003427 

6/28/16 00027 

6/27/16 381 

- - - - - - - - - - - - -

- - - - - - - - - -

6/23 /16 S-86704	201606 320-53800-47600 

*

201606 320 -53800-12200 

*	12 ,3 57 .6 0

6/30/16 00001 

- - - -

O-L-A-TTE-NDANTS -JUN16	GOVERNMENTAL  MANAGEMENT  SERVICES

1, 639 .0 2

12 ,3 57 . 6 0 003428 

6/30/16 00079 

6/30/16 00015 

7/08/16 00092 

INST . CARD READER-POOL GTE	ACCESS CONTROL TECHNOLOGIES

- - - - - - - - - - - - - - - - - -

MTHLY  LAKE  MAINT-JUN 1 6

-

6/24 /16   8 0 5 41	2 0 1 6 0 6   3 2 0 - 5 3 800-47000	*
AQUATIC WEED MANAGEMENT , INC .
6/22/16 88309	2016 05 31 0-51300-31500	*

*

6/22 /16	3 1500 

PREP/ATTEND CDD MEETING 883 10	2016 04 310 -513 00- 

6/22 /16   8 8 3 1 0A

BUDGET  RE2 S0O1L6U0 T5 IO3 N1 /0N-O5 T1 I3C0E0 -3 1500	*
RECORDS REQ/BUDGET/PROJ .	HOPPING GREEN & SAMS

4/11/16 P13027	2016 04 320-5380 0-47600	*

REPL . COVER/DIAPHRAM  KIT

*

4/25/16 P	00 -47600 

REPLACE FLUSHMETER KIT 1 2 7 1 0	2 0 1 6 04 3 2 0 - 5 3 8

BROWNIES SEPTIC & PLUMBING FALC FALCON TRACE KCOSTA

30 0. 0 0

1,5 08 .2 5
93 .0 0
432 .50 

353 .8 5
144 .9 5

1,6 39 . 02 003429 

300 . 0 0 003430 

2,0 33 . 7 5 003431 

498 .8 0 003432 

BANK A FALCON TRACE COD

A*P* 3* 0 C0RHECK  DATES   06/14/2016   -   08/09/20 1Y6EA* R* -*TO-DATEFALCCONUNTRSAPCAEYACOBLDE-GPERNEPEARAILD/FCOUMNDPUTER  CHECK  REGISTER	RUN	8/09/16	PAGE	2

CDHAECTKE

VEND#	. . D. A. T. EINVOICNEVO. I. C. E. .    . Y. R. MEOXPENDPSTEDATCCOT. #. . SUB	SUBCLASS

VENDOR NAME

STATUS

AMOUNT

A. M. O. U. CNHTECK . . #. . . 

7/08/16 00071 

6/29/16   7 I2R0R3 8. R1 PRS 2-Z0O1N6E0#6 4 3 2& 0 Z-O5N3E8#0 50 -47500 

*	53 .7 0

7/01/16   7M2 T0 H5 L7 Y3   POO2 L0 1M6 A0 7IN3T2-J0 U-L5 31 86 00-47500 

*	2 , 127 .9 2

7/08/16 00022 

7/08/16 00094 

- - - - - - - - - - - - - - - - - -RE-W  LANDSCAPE  CORP 6/08/16   2R9 E3P1L3 7.3   PO2O0L1 6T0R6AN3 S2 F0 O-R5M3E8 R0 S0-474 00 
6/16/16   2 29 3 0 -B1ULK2 B0L1E6A0 C6H320-5380 0-47400 
6/18/16   2 T9A2 N8 K14RENT2A0L1 6F0E7 E3-J2U0L-51 36 800 -47400 
6/20/16   2 95 -2S8U9L8FUR2IC0 1A6 C0 I6 D3 D2R0U-M5 S3800 -47400 
6/27/16   2 29 93 04-9B6ULK2 B0L1E6A0 C6H320-53800-47400 

MTHLY POOL SERVICE-JUN1 6 

- - - - - - - - - - - - - - - - - -SP-IES   POOL ,   LLC 6/25 /16 6 9 0 9 6	2 0 1 6 0 6 3 2 0 - 5 3 8 0 0 -47400 
THREE GUYS POOL SERVICE & REPAIR

- - - - - - - - - - -2 -, 1 -81 -. 6 -2   003433 

*	759 . 85
*	38 7.5 0
*	30 . 0 0
*	272 . 75 
*	486 .50 

- - - - - - - - - - - 1 -,9 3- 6 -. 6 -0   003434 
*	1, 015 . 0 0
- - - - - - - - - - - 1 -, 0 -15 -. 0 -0   003435 

MANAGEMENT  FEES   JUL 1 6

7/12/16 00027	7/01/16  3 8 2	2 01 6 0 7  3 1 0 - 5 1300-34000 

COMPUTER  TIME   JUL 16

7/01/16 382	2 0 1 6 07 3 1 0 - 51300-35100 

WEBSITE  ADMIN   JUL 16

7/01/16  38 2	2 0 1 6 07 3 1 0 - 51300-35200 

OFFICE SUPPLIES JUL 1 6

7/01/16  38 2	2 0 1 6 0 7  3 1 0 - 5 1300-51000 

POSTAGE JUL 16

7/01/16 3 82	2 0 1 6 0 7  310-51300 -42000 

COPIES JUL 16

7/01/16  38 2	2 0	07 310-51300 -42500 

FACILITY  MAINT  JUL 16

7/01/16 3 83	2 0 1 6 0 7  3 2 0 -5 3800 -12000 

I T  SERVICES   &   EQUIPMENT

7/06/16  38 4	2 0 1 6 0 7  3 2 0 - 5 3 8 00-47600 

GOVERNMENTAL MANAGEMENT SERVICES

*	4 , 1 76 .0 0
*	83 .3 3
*	37 . 5 0
*	.27 
*	4 . 23
*	1 . 6 5
*	1,5 65 . 0 0
*	1, 159 .3 2
*	- - - - - - - - - - -7 -, 0 2-7 -.3 -0   003436 

7/14/16  00013

7/20/16  000 54 

7/08/16   9P0A0 5PE4R3 -S5UP2 P0 1L6I0E7S-J3 U2L0 -1 653800-47600 

FY1 6   DEBT  SERVICE  ASSESS

- - - - - - - - - - - - - - - - - -HI-LL  MANUFACTURING   INC 7/20/16 0 7 2 0 2 0 1 6 2 0 1 6 0 7 3 0 0 - 2 0 7 0 0-10000 
FALCON TRACE COD C/O US BANK FALC FALCON TRACE KCOSTA

432 . 1 1
- - - - - - - - - - - -4 -32 -. 1 -1   003437 
*	7, 546 . 6 9
7, 546.6 9 003438 

BANK A FALCON TRACE COD

A*P*3* 0 C0RHECK   DATES   06/14/ 2016   -   08/09/20 1 Y6EA*R* -*TO-DATEFALCCONUNTRAPCAEYACBOLDE-GPERNEEPRAAILD/CFOUMNPDUTER  CHECK  REGISTER	RUN	8/09/16	PAGE	3

CHDAECTKE

VEND#	. . D. A. T. EINVOINCVEO.. I. C. E. .    . Y. R. MEXOPENDPSTEDATCOCT. #. . SUB	SUBCLASS

VENDOR NAME

STATUS

AMOUNT

A. M. O. U. NCTHECK . . #. . . 

7/21/16 00022 

7/06/16   2 S9U3L8 F2U1 RIC2A0 1C6ID0 7/RA3K2E0 -/V5A3C8 0. 0-47400 
7/06/16   2 92 48 0 -B5ULK2 B0 L1 E6 A0 7CH320-5380 0-47400 

7/25/16 00027 

7/27/16 00027 

7/28/16 00001 

-  - - - -  -  -  -  -  -  - -  -  -  -  -  - -SP-IES   POOL ,   LLC
7/22/16   3I8 5T  SERVIC2E0 S1 6 &07EQ3 U2 I0P-M5E3N8 T00-47600 

*	343 . 8 0
*	470 . 0 0

- -  - - - -  - - - -  -  -8 -13 -. 8 -0   003439 
*	902 .1 3

- -  -  -  - - - -  - -  - -  -  -  -  -  -  -GO-VERNMENTAL  MANAGEMENT  SERVICES
7/27/16   3 P8 O6OL  ATTE2 N0 D1A6 N0 T7 S 3 -2 0 J-U5L3Y8 01 06-12200 

- - - - -  -  -  -  - -  -  -9 -02 -. 1 3-
*	7,9 79 .1 3

0034 4,0

7 /28/16 00079 

- - - - - - -  -  -  -  -  -  -  - -  -  -GO-VERNMENTAL  MANAGEMENT   SERVICES 7/21/16   S I-N8S7T2 7U4 SB2 C0O1N6V0E7RT3E2R0-53800-47600 
-  -  -  -  -  -  - - -  - - -  -  -  - -  -AC-CESS   CONTROL  TECHNOLOGIES
7/22/16   8M1 T5 H8LY  LAK2E0 1M6 A0 7INT3 -2J0U-L5 13 6800-47000 
7/22/16   8 H1Y5D8RLA  BU2R0N1D6W0N7-C3 O2V0E- /5D3O8C0K0-47000 

7/28/16 00015 

- -  - - - - - -  -  -  - -  -  -  -  -  -  -AQ-UATIC  WEED  MANAGEMENT ,   INC .
7/25/16   8 R8 E8 7SO9 LUTIO2N0 S1 6/P0R6EP3 1L0T-R5 1/M3E0M0O-31500 

- - - - - -  -  - -  -  -7 -, 9 -79 -. 1 -3   003441 
*	303 .9 6
-  -  -  -  -  -  - -  -  -  -  -3 0-3 -. 9-6   003442 
*	300 .0 0
*	1,7 00 . 0 0

-  - - - -  - - -  -  -  -2 -,0 -00 -. 0 -0   003443 
*	282 .9 7

8/04/16 00022 

-  -  -  -  - -  -  - -  - - - - - -  -  -  -HO-PPING  GREEN   &   SAMS 7/14/16   2 S9O4 D1 I2U6M  B2IC0A1R6 B0 7/CY3A2 N0U-R5 I3C8 0A0C-47400 
7/14/16   2S9 R4 1S2M8 ITH2 S0P1L6A0 7SH3 C2O0 VE- 5R3800-47400 
7/14/16   2 R9 E4P6L66 POOL2 0L1 I6 F0 T7   3SE2A0 -T5B3E8L0 T0-47400 
7/18/16   2T9A4 N2K22RENT2A0L1 6F0E8E-3A2U0 G- 15 63800-47400 

-  -  -  - -  -  - - - -  -  -2 -8 2 -.9 7-
*	231 . 8 5
*	550 . 0 0
*	256 . 6 0
*	30 .0 0

003444 

8/04/16 00041 

5/17/16 
7/26/16 
7/29/16 

7R7P2L1C
8R7P8 L7 C
8R7E8 P5R

SPIES POOL , LLC

TERRY ' S ELECTRIC INC

BALL2A0 S1T6 /0L5AM3 P2 S0-5380 0-47600 POOL2 0L1 G6 T07TR3A2N0 S-F5O3R8M0 R0 S-47400 POLE2 0L1 G6 T0 S7 /B3L2 L0 -ST5 /3B8U0L0 B-47600 
FALC FALCON TRACE KCOSTA

-  -  -  -  -  -  - - -  -  - 1 -, 0 -68 -.4 -5   003445 

*	461 .0 0
*	922 .5 0
*	497 . 0 0
1,8 80 .5 0 003446 

BANK A FALCON TRACE CDD

A*P* 3* 0 C0RHECK  DATES   06/14/2016   -   08/09/20 1Y6EA*R* -*TO-DATEFALCCONUNTRAPCAEYACOBLDE-GPERNEEPRAAILD/CFUOMNPDUTER   CHECK   REGISTER

RUN	8/09/16	PAGE	4

CHDAETCEK	VEND#	. . D. A. T. EINVOINCEVO.. I. C. E. .    . Y. R. MEOXPENDPSTEDATCCOT. #. . SUB	SUBCLASS 8/04/16   00094		7/25/16   6M9T1 H9L7Y  POO2L0 1 S6E0 R7 V3I2CE0 --J5U3L8 10 06 -4 7400 

VENDOR NAME

STATUS
*

AMOUNT
1,0 15 .0 0

A. M. O. U. NCHTECK . . #. . . 

8/07/16 00027 

- - - - - - - - - - - - - - - - - -TH-REE   GUYS   POOL   SERVICE   &   REPAIR

8/01/16   3M8A7NAGEMEN2T0 1 F6 E0 E8 S3A1 U0 G- 51 16 300-34000 
8/01/16   3C8O7MPUTER2 T0 I1M6E0 8AU3 G1 01-6 51300-35100 
8/01/16   3W8 E7 BSITE  A2 D0 M1 I6N0 8AU3 G1 01 -6 51300-35200 
8/01/16   3 O8 F7 FICE   SU2P0 P1 L6 I0E8 S 3A1U0G-1561300-51000 
8/01/16   3P8 O7 ST.A.GE  A2U0G1 61 06 8   310 -513 00-42000 
8/01/16   3 C8 O7 PIES  AU2 G0 16 0 8   310 -5130 0-42 500 

- - - - - - - - - - -1 -,0 -15 -.0 -0   003447

*	4 , 1 76 .0 0
*	83 .33 
*	37 .5 0
*	20 . 8 1
*	11 . 5 5
*	55 . 6 5
*

AUG1 6 

8/01/16   3F8A8 C ILITY2M0A1 6IN0 T8 

3 2 0 -5 3 800 -12000 

GOVERNMENTAL MANAGEMENT SERVICES
TOTAL FOR BANK A TOTAL FOR REGISTER

FALC FALCON TRACE KCOSTA

1,5 65 .0 0

61, 961 .9 0
61 ,9 61 .9 0

5,9 49 . 8 4 003448 

Management Services ...

Governmental

Pe

,,.

ts.

�

�;/

•

"'

91

� !  •CW  !SW �

Fa l con Trace
Com mun ity Development District

Unaudited Financial Reporting July 31, 2016

Table of Contents

1	 	Balance Sheet	

2	
 	General Fund	

3	
 	Debt Service Fund

4	
 	Capital Projects Fund	

5-6	
 	Month to Month	

7	
 	Long-Term Debt	

8	
 	Assessment Receipt Schedule 	

Fund Balances Unassigned
Restricted for Debt Service Restricted for Capital Projects

I Liabilities and Fund Equity

$241,977

----------
$229,580

$247,211

$229,580

$222,183
$222,183

$241,977
$229,580
$222,183
$698,974

FALCON TRACE
COM MUN ITY DEVELOPM ENT DISTRICT
COMBINED BALANCE SHEET July 31, 2016

Assets

Cash - Wells Fargo Cash - SunTrust Investments Custody Account Series 2007

General
$189,673

Debt Service	Capital Projects

$195,764

$57,538

(memorandum only]i
2016
$189,67:::
$195,764
$57,538

Governmental Fund	Totals

Revenue Account Redemption Account Cost of Issuance	
----------	$227,495
$2,085	
$26,419	$227,495i
$2,085i
$26,419	
Irota I Assets	$247,211	$229,580	$222,183	$698,974 1	
Liabilities					
Accounts Payable	$5,234	
	----------	$5,234	
Fund Equity					

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND
Statement of Revenues and Expenditures For Period Ending July 31, 2016

 	Budget	Thru 7/31/16	Thru 7/31/16	Variance	

General Fund

Prorated Budget

Actual

Revenues:

Maintenance Assessments	$355,855	$355,855	$364,256	$8,401
Miscellaneous Income	$1,000	$833	$2,350	$1,517 Interest		$0		$0		$100		$100

 	$356,855	$356,688	$366,705	$10,017 1

Total Revenues Expenditures:
Administrative:
Supervisors Fees	$8,000	$5,000	$4,800	$200

FICA Expense Engineer

$612	$400	$367	$33

$

5,000	$4,167	$0	$4,167

Dissemination	$1,000	$1,000	$1,000	$0
Assessment Roll	$5,000	$5,000	$5,000	$0
Arbitrage Rebate	$600	$600	$600	$0
Attorney Fees	$15,000	$12,500	$10,241	$2,259
Annual Audit	$3,300	$3,300	$3,300	$0

Trustee Fees

$4,327	$0	$4,327

Management Fees	$50,112	$41,760	$41,760	$0
Computer Time	$1,000	$833	$833	$0

$25

Website Maintenance	$450	$375	$375	$0

$59

Telephone	$100
Postage	$1,000	$833	$163	$671
Printing and Binding	$1,500	$1,250	$457	$793
Insurance	$11,009	$11,009	$9,948	$1,061
Legal Advertising	$2,500	$2,083	$796	$1,288
Contingency	$1,200	$1,000	$784	$216
Property Appraiser	$1,000	$1,000	$902	$98
Office Supplies	$800	$667	$113	$554

 	$113,685	$97,362	$81,637	$15,725 1

Dues, Licenses, Subscriptions	$175	$175	$175	$0 Total Administrative

Maintenance:

Field Management	$18,780	$15,650	$15,650	$0
Property Insurance	$7,026	$7,026	$6,245	$781

Pool Staff Payroll
Security	$920
Telephone Expense	$4,000

$62,315	$56,138	$6,177

$767
$3,333

(

$537	$229
$3,607	$274)

Electric	$18,900	$15,750	$12,724	$3,026
Irrigation/Water	$13,500	$11,250	$7,626	$3,624
Lake Maintenance	$8,600	$7,167	$13,009	($5,842)
Pest Control	$650	$542	$0	$542
Pool Maintenace	$32,000	$26,667	$23,501	$3,166
Grounds Maintenance	$29,036	$24,197	$25,027	($830)
General Facility Maintenance	$7,000	$5,833	$12,716	($6,882)
Refuse Service	$2,400	$2,000	$2,224	($224)
Field Contingency	$5,000	$4,167	$0	$4,167

 	$243,170	$207,243	$199,585	$7,658 1

 	$356,855	$304,605	$281,222	$23,383 1

 	$0	$85,483	
 	$0	$156,494	
 	$0	$241,977	

----------1
----------1
----------1

Transier Out	$20,580	$20,580	$20,580	$0 Total Maintenance
Total Expenditures
Excess Revenues (Expenditures)

Fund Balance - Beginning Fund Balance - Ending
2

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
DEBT SERVICE 2007

Adopted
 	Budget

Prorated Budget Thru 7/31/16

Actual Thru 7/31/16

Variance

Statement of Revenues & Expenditures For Period Ending July 31, 2016

Revenues:

Assessments - On Roll Interest

Total Revenues

Expenditures:

Interest Expense 11/01 Principal Expense 05/01 Interest Expense 05/01

Total Expenditures

Other Sources /Uses\
Transfer In {Out)
Excess Revenues (Expenditures) Fund Balance - Beginning
Fund Balance - Ending

$413,660

 	$413,760	$413,743	$424,114	$10,310 1

$100

$40,972
$335,000

$416,944

$416,944

$416,944

$0 I

$40,972

 	($3,184)	$7,214	
 	$221,035	$222,366	

 	$217,852	$229,580	

$0

$413,660

$40,972
$335,000
$40,972

$0

$423,425
$688

$40,972
$335,000
$40,972

$44

$9,765
$605

$0
$0
$0

$44

3

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
CAPITAL PROJECTS FUND
Statement of Revenues & Expenditures For Period Ending July 31, 2016

Adopted Budget

    Thru 7/31/16	Thru 7/31/16	Variance	

Prorated

Actual

Revenues:

Interest	$150	$125	$127	$2	
Total Revenues	 	$20,730	$20,705	$20,707		$2 I	
Expendi1ur es:			
Building Renovations	$20,000	$16,667	$2,880	$13,787	
Athletic Court Resurfacing
Dock Repair	$6,000	$5,000	$0
$12,528	$12,528	$12,528	$5,000
$0	
Total Expendi1ur es	 	$38,528	$34,195	$15,408		$18,787 !	
Ofl er Sources (Uses)			
Transfer In (Out)	$0	$0	($44)	
Total Ofl er	 	$0	$0	($44)		($44)!	

Transfer In 

$20,580	$20,580

$20,580	$0

($44)

 	($17,798)	$5,254	
 	$204,762	$216,928	
 	$186,964	$222,183	

Excess Revenues (Expenditlres)
Fund Balance - Beginning Fund Balance - Ending

4

FALCON TRACE

Oct

Nov

Dec

Jan

Feb

March

April

May

June

July

Aug

Sept

Total

COMMUNITY DEVELOPMENT DISTRICT

Revenues:
Maintenance Assessments	$0	$34,978	$237,586	$46,697	$17,236	$6,170	$11,964	$1,719	$1,414	$6,492	$0	$0	$364,256

$7

$15

Miscellaneous Income	$125	$0	$0	$235	$200	$390	$285	$500	$615	$0	$0	$2,350

Interest

$4	$11	$12	$15

$15	$13	$0	$0	$100

$366,705 1

Total Revenues	I	$130	$34,982	$237,589	$46,939	$17,247	$6,382	$12,369	$2,018	$1,928	$7,120	$0	$0
Expenditures:

Administrative
SupeNisors Fees	$800	$0	$0	$800	$0	$1,200	$0	$1,000	$0	$1,000	$0	$0	$4,800
FICA Expense	$61	$0	$0	$61	$0	$77	$0	$77	$0	$0	$367

Engineer

$0	$0	$0	$0	$0	$0	$0	$0

$0	$0	$0

Dissemination Agreement	$0

$0	$0	$1,000	$0	$0	$0	$0

$0	$1,000

Assessment Roll	$5,000

$0	$0	$0	$0

$0	$0	$0	$0	$0	$5,000

$464

$1,995	$93	$1,941	$283	$0	$0	$0	$10,241	
$0	$0	$0	$0	$0	$0	$0	$3,300	
$0	$0	$0	$0	$0	$0	$0	$0	
$4,176	$4,176	$4,176	$4,176	$4,176	$0		$41,760	

Arbitrage Rebate	$0	$0	$0	$0	$0	$0	$0	$0	$600	$0	$0	$600

Annual Audit	$0	$3,300	$0	$0	
Trustee Fees	$0	$0	$0	$0	
Management Fees	$4,176	$4,176	$4,176	$4,176	
Computer Time		$83	$83	$83	

Attorney	$1,644	$1,377

$1,779	$666
$0

$4,176

$83	$83

$0	$833

Property Appraiser		$902	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$902	
Office Supplies		$20	$27	$0	$0	$21	$0	$21	$0	$21	$0	$0	$0	$113	
Dues, Licenses, Subscriptions			$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$175	

Total Administrative	I	$22,978	$9,266	$4,808	$7,230	$6,184	$7,869	$4,605		$4,782	$6,072	$0	$0	$81,637 1	

$7,843

$83

$38

$38

$27

$4

$7

$9,948

$175

Website Administration
Telephone		$38	$38	$38	$0	$0	$375
$0	$0	$10	$0	$10	$0	$0	$0	$0	$25	
Postage		$20	$18	$22	$0	$0	$163	
Printing and Binding		$177	$0	$0	$102	$1	$2	$2	$0	$0	$457	
Insurance		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$9,948	
legal Advertising		$0	$0	$0	$204	$0	$204	$0	$388	$0	$0	$0	$0	$796	
Contingency
Property Taxes		$117	$42	$62	$81	$92	$87	$93	$0	$0	$784
$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	

5

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT

Oct

Nov

Jan

March

April

May

June

July

Aug

Sept

Total

Field Management	$1,565	$1,565	$1,565	$1,565	$1,565	$1,565	$1,565	$1,565	
Property Insurance			$0	$0	$0	$0	$0	
Pool Staff Payroll	$6,379	$3,903	$3,552	$1,823	$2,470	$4,784	$6,009	$6,881	$12,358	

Maintenance

Security	$104

$347

$45	$45

$0

$7,979

$0
$45	$45	$45	$75	$0

$15,650
$0	$6,245
$56,138
$537

$45

Telephone Expense	$334	$346	$436
Electric

$348	$360	$360	$365

$549

$1,165	$1,295	$1,109	$1,195	$1,181

$0	$3,607

$778

$1,190	$0	$0	$12,724

Irrigation/Water	$997	$549	$825

$638	$587	$716	$828

$0	$7,626

lake Maintenance	$7,504	$300	$300	$300	$300	$300
Pest Control	$0	$0	$0	$0	$0

$300	$300	$2,000	$0	$0	$13,009
$0	$0	$0	$0	$0	$0	$0

Pool Maintenance	$1,518

$1,223	$1,886	$1,677	$3,002	$2,254	$2,160

$4,520	$0	$0	$23,501

Grounds Maintenance	$5,179	$2,128	$2,128	$2,128	$2,218	$2,128	$2,128	$2,681	$2,182	$2,128	$0	$25,027

General Facility Maintenance	$781	$580	$263	$0	$804	$1,337	$1,656

$2,554	$3,295

$12,716

RefuseService	$235	$0	$0	$288	$286	$283	$281	$283	$289	$0	$0	$2,224

Field Contingency	$0

I
I I

$32,257

$55,235

$12,424

$21,690

$13,292

$11,826

$16,634

$220,955

$31,285

$38,515

$8,424

$11,557
$17,741 ($494)

$15,537
$23,406 ($17,024)

$17,483
$22,088 ($9,719)

$17,617

$25,460

$25,416

$30,198

$24,183

$30,256

$0

$0

$0

$0

$0

$199,585

$281,222

$85,483

Transfer  Out Total Maintenance Total Expenditures
Excess Revenues (Expenditures)

$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
$0	$0	$20,580	$0	$0	$0	$0	$0	$0	$0	$0	$20,580

1

1

1

6

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT

SERIES 2007, SPECIAL ASSESSMENT REFUNDING BONDS

($310,000)

LONG TERM DEBT REPORT

MATURITY DATE:
RESERVE FUND DEFINITION RESERVE FUND REQUIREMENT RESERVE FUND BALANCE	5/1/2020
MAXIMUM ANNUAL DEBT SERVICE
COVERED BY FINANCIAL GUARANTY INSURANCE POLICY	
BONDS OUTSTANDING - 9/30/13	$2,475,000	
LESS: PRINCIPAL PAYMENT 5/1/14
LESS: PRINCIPAL PAYMENT 5/1/15	
($325,000)	
LESS: PRINCIPAL PAYMENT 5/1/16	($335,000)	
CURRENT BONDS OUTSTANDING	$1,505,000	

7

FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT RECEIPTS - FY2016 TAX COLLECTOR
Gross Assessments $	818,633   $	378,569   $	440,064

Net Assessments $	769,515   $	355,855   $	413,660
2007
Date	Gross Assessments	Discounts/	Commissions	Interest	Net Amount	General Fund	Debt Svc Fund	Total	
Received	Dist.#	Received	Penalties	Paid	Income	Received	46.24%	53.76%	100%	

11/5/15	1	$	7,555.44   $	360.40   $	$	$	7,195.04   $	3,327.28  $	3,867.76   $	7,195.04
11/12/15	2	$	18,173.20   $	727.00   $	$	$	17,446.20   $	8,067.83   $	9,378.37   $	17,446.20
11/19/15	3	$	53,121.98   $   2,125.09   $	$	$	50,996.89   $	23,583.04   $	27,413.85   $	50,996.89
12/3/15	4	$	155,800.56    $  6,232.64   $	$	$  149,567.92   $	69,166.29   $	80,401.63   $  149,567.92
12/10/15	5	$	335,743.65   $  13,431.07   $	$	13.58   $   322,326.16   $	149,056.73   $    173,269.43   $  322,326.16
12/17/15	6	$	43,615.68    $    1,744.80   $	$	$	41,870.88   $	19,362.80   $	22,508.08   $	41,870.88
1/14/16	7	$	105,147.45    $    4,167.64   $	$	$    100,979.81   $	46,697.17   $	54,282.64   $   100,979.81
2/11/16	8	$	38,818.73    $    1,064.36   $	482.57   $	$	37,271.80   $	17,236.00   $	20,035.80   $	37,271.80
3/10/16	9	$	13,407.97   $	154.49   $	$	88.75   $	13,342.23   $	6,169.99   $	7,172.24   $	13,342.23
4/14/16	10	$	25,871.69   $	$	$	$	25,871.69   $	11,964.12   $	13,907.57   $	25,871.69
5/12/16	11	$	3,716.42   $	$	$	$	3,716.42   $	1,718.62   $	1,997.80   $	3,716.42
6/9/16	12	$	3,038.54   $	$	$	18.27   $	3,056.81   $	1,413.59   $	1,643.22  $	3,056.81
7/14/16	13	$	14,038.80   $	$	$	$	14,038.80   $	6,492.11   $	7,546.69   $	14,038.80
Totals	$	818,050.11   $  30,007.49   $	482.57   $	120.60    $   787,680.65   $	364,255.59    $   423,425.06   $  787,680.65

8

FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT
$4,085,000
SPECIAL ASSESSMENT REFUNDING BONDS SERIES 2007
ARBITRAGE REBATE REQUIREMENT JUNE 30, 2016

�'1"                  "                  "                                                                                                                     ' -	

Grau & Associates
CERTIFIED PUBLIC ACCOUNTANTS

July 7, 2016

Falcon Trace Community Development District Orange County, Florida

2700 North Military Trail • Suite 350 Boca Raton, Florida 33431
(561) 994-9299 • (800) 299-4728
Fax (561 ) 994-5823
www.graucpa.com

Re:	$4, 085,000 Falcon Trace Community Development District (Orange County, Florida)
Special Assessment Refunding Bonds, Series 2007 (the "Bonds")

Falcon Trace Community Development D istrict has requested that we prepare certain computations related to the above-described Bonds for the year ended June 30,  2016 (11Computation Period"). The engagement consisted of the preparation of computations to be used to assist in the determination of the amount, if any, of the Rebate Requirement for the Bonds for the Computation Period as described in Section 148(f) of the Internal Revenue Code of 1 986, as amended ("Code"). You have the ultimate responsibility for your compliance with arbitrage rebate laws; therefore, you should review the calculations carefully.
In order to prepare these computations, we were provided with the following information: various trust statements and the Official Statement for the Bonds.  We did not verify or otherwise audit the accuracy of information provided to us by you or the Trustee, and accordingly, we express no opinion on such i nformation. The attached schedules are based upon the aforementioned information p rovided to us. A brief description of the attached sch ed ules is attached.

The results of our computations based on the information p rovided to us i ndicate a negative Rebate Requirement of ($1 1 ,61 9) for June 30, 2016. Consequently, our results indicate no amount must be on deposit in the Rebate Fund.

.

The Rebate Requirement has been determined as described in the Code and the Arbitrage Rebate Regulations. We have no obligation to update this report because of events occurring, or information coming to our attention, subsequent to the date of this report. It is understood that these calculations are solely for the information of, and assistance to, the addressee for the purpose of complying with the Code and the Arbitrage Reb ate Regulations. Our report is not to be used for any other purpose.

p.,. .,,, c,,.�
Grau & Associates

DESCRIPTION OF ATTACHED SCHEDULES
Summaiv of Rebate Calculations - Provides a summary of the rebate calculations.
Purpose Expenditures Future Value Report - Verifies the rebate calculation. The report future values the purpose expenditures by the arbitrage yield limit to the computation date (June 30, 2016).
Arbitrage Yield Limit (AYL ) Verification Report - Verifies the calculation of the arbitrage yield limit and the arbitrage gross proceeds. Discounts the debt service schedule by the arbitrage yield limit.
True I nterest Cost (TIC) Verification Report - Verifies the calculation of the true interest cost and the g ross proceeds. Discounts the debt service schedule by the true interest cost.

Unspent Proceeds Report - Verifies the amount of unspent proceeds. Lists purpose expenditures in chronological order.
I nternal Rate of Return (IRR) Report Via Purpose Expenditures - Verifies the internal rate of return for the i nvestment portfolio. This report presents values the purpose expenditures by the internal rate of return to the delivery date.

Falcon Trace Community Development District
Special Assessment Refunding Bonds, Series 2007 Summary of Rebate Calculations
$ 4,085 ,000.00

Dated: Delivered:

07/01/2007
07/20/2007

Anniversary Date. . . . . . . . ...•. . . . . . . . . . . . • . . . . . . . . . . . . . • . . . . . . . , . • . . 	11 /01/2007	
Future-Val11e Date. . . . . ..... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • . . . . . . 	06/30/2016	
Arbitrage YieldLJmit. • . . . ...... • . . . . . ... . • . . . . . . . • . . . . • . . • . . . . . . . . . . 	4,7365179	
TotalofPurpose Expendit11res. . . . . . . . • • . . • . . . . . . • . . . . . . . . . • . . . . . . . . . . . .	$4,028,286.32	
Internal F.ate ef&turn. . . . ...•... . . . . . . . . . . . . • . . . . . . . . • . . • •	•••.. 	1 .0208786	
90% ofrebate liability. . . ....•.... . . . . . . . . . . . . . . . . , . . . . . , . . . . . . . . . . . . .	-$10,456.72	
Full rebate liability. . . . . . . . . . • . . . . . . • . . . . . • . . . • . . . . . . . . . . . . . . . . . . . ... 	-$1 1 ,618.58	

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FALCONTS07-2007-A I FY: 1 I Mun,EaseElevateMalnDb I 16.05 EDB I 07/07/2016 I 9:25 I Rpt22

Falcon Trace Community Development District	Dated:	07/01 /2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Purpose Expenditures Future Value Report	F111Jm Val11ed To:	0 6/30/20 16 
$ 4,085,000.00
Trnnrar.tinn	Group Fund	Future Value  Calcuiation Amt	FV	FV
Daw	ID	ID	Dcscriptio11	Periods	(I11t. Earnings)	Pool %	Factor	Amount
7/20/2007	-1	COi	Beg. Arbitrage Gross Proceeds	17.8888889	-4,052, 1 50.33	100.0000000 1.5200092	-6,159,305.91
7/20/2007	0	COi	1 7.8888889	105,11 8.00 100.0000000 1.5200092	159,780.33
7/20/2007	0	Transferred proceeds	17.8888889	-621,042.22 I 00.0000000 1. 5200092	-943,989.91
7/20/2007	0	Underwriter's discount and oth	17.8888889	110,635.27  100.0000000  1.5200092	168,166.63
7/20/2007	0	Pmt to Escrow agent	17.8888889	4,351,338.27  100.0000000 1.5200092	6,614,074.35
7/30/2007	0	COI	17.8333333	8,065.00  100.0000000  1.5180340	12,242.94
8/1/2007	0	COI	17.8277778	1,000.00 100.0000000 l.5178366	1,517.84
8/23/2007	0	COI	1 7.7055556	5,250.00 100.0000000 I.S135006	7,945.88
8/30/2007	0	cor	17.6666667	4,790.00 100.0000000 1.5121235	7,243.07
1 0/5/2007	0	Interest	17.4722222	609.00   100.0000000  1.5052571	916.70
1 0/5/2007	0	COI	17.4722222	367.00   I 00.0000000  1.5052571	552.43
11 /2/2007	0	Interest	1 7.3222222	247.00   I00.0000000   1.4999814	370.50
1 1/2/2007	0	COI	17.3222222	122.00 I 00.0000000 1.4999814	183.00
1 1/20/2007	0	Interest	17.2222222	58,265.00 l00.0000000 1.4964746	87,192.09
12/4/2007	0	COi	17.1444444	113.00  I00.0000000 l.4937527	168.79
1/3/2008	0	COi	16.9833333	117.00  I00.0000000  1.4881303	174.11 
1/29/2008	0	COI	16.8388889	718.00 100.0000000  1.4831 075	1,064.87
2/4/2008	0	COi	1 6.8llllll	109.00  100.0000000  1.4821436	161.55
2/13/2008	0	COI	16.76lllll	1,595.00  100.0000000  1.4804100	2,361 .25
3/4/2008	0	COI	16 .6444444	79.00  100.0000000 1.4763729	11 6.63
4/2/2008	0	COi	16.4888889	73.00   I 00.0000000  1.4710071	107.38
5/2/2008	0	COi	16.3222222	62.00	100.0000000  J .4652798	90.85
51112008	0	Interest	162944444	-87,397.00	100.0000000  1.4643274	-127,977.82
5/1 2/2008	0	Interest	1 6.2666667	87,397.00 100.0000000 1.4633756	127,894.64
6/3/2008	0	COI	16.1500000	61.00	100.0000000  1.4593850	89.02
7/2/2008	0	COi	15 .9888889	55.00  100.0000000 1.4538919	79,96
8/4/2008	0	COI	15.Sllllll	56.00	I00.0000000 1.4478546	81.08
9/3/2008	0	COI	15.6500000	56.00   100.0000000  1.4424050	80.77
1 0/2/2008	0	COI	15.4888889	54.00   l00.0000000  1.4369758	77.60
11 /3/2008	0	Interest	15.3166667	-82,597.00	100.0000000 1.4311949	-1 18,212.40
11 /3/2008	0	Interest	15 .3 166667	82,597.00   100.0000000  1 .431 1949	118,212.40
11/4/2008	0	COi	1 5.Jllllll	56.00   100.0000000  1.4310088	80.14
12/2/2008	0	COi	15.1555556	51.00  100.0000000  1.4258079	72.72
1 /5/2009	0	COI	14.9722222	41.00  100.0000000  1.4197026	58.21
2/3/2009	0	COi	14.8166667	29.00  100.0000000 1.4145429	41.02
3/3/2009	0	COi	14.6500000	18.00   100.0000000  1.4090354	25.36
4/2/2009	0	COi	14.4888889	15.00  I00.0000000  1.4037318	21.06
5/1/2009	0	Interest	14.3277778	-82,597.00 100.0000000 l.3984483	-115,507.63
5/1/2009	0	Interest	14.3277778	82,597.00 I00.0000000 1.3984483	11 5,507.63
5/4/2009	0	COI	14.3llll ll	13.00  I 00.0000000 1.3979028	18.17
6/2/2009	0	COi	i 4. i555556	i2.00  100.0000000  l.3928223	16.71
7/2/2009	0	COi	13 .9888889	10.00   100.0000000  1.3873994	13.87
8/4/2009	0	CO!	13.8111111	8.00 100.0000000 1.3816382	II.OS
9/2/2009	0	COI	p.6555556	5.00   100.0000000  1 .3766168 	6.88
1 0/2/2009	0	COi	1 3.4888889	4.00   100.0000000  1.3712569	5.49

FALCONTS07-2007-A I FY: 1 1 Mun-EaseElev.iteMainDb 1 16.05 EDB I 07/07/2016 I 9:25 ( Rpt15a
Grau and Associates
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Falcon Trace Community Development District

Dated:

07/01 /2007

Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Purpose Expenditures Future Value Report	F11t11re Valued To:	06/30/201 6

Transar;tion
Date

Group
ID

F1111d
ID

Dumptio11

Future Vafuq   Calculatio11 Amt			FV Periods	(Int. Eamings)	Pool %	Fartor

FV
Amount

$ 4,085,000.00
11 /2/2009	0	Interest	13.3222222	-77,597.00 100.0000000 J.36S9179	-105,991.14
1 1/2/2009	0	Interest	13.3222222	77,597.00 100.0000000 1.3659179	105,991.14
11/3/2009	0	COi	13.3166667	4.00    l00.0000000   1.3657403
12/2/2009	0	COi	13.1555556	3.00   100.0000000  1.3605998	4.08
1/5/2010	0	COi	12.9722222	2.00   100.0000000  1.3547737	2.71

2/2/2010	0	COI	12.8222222	1.00  100.0000000  l.3500254	1.35

l.34

3/2/2010	0	COi	12.6555556	1.00   l00.0000000  1.3447691	1.34
4/212010	0	COI	12.4888889	1.00 100.0000000	1.3395333
5/3/2010	0	Interest	12.3166667	-77,597.00  100.0000000 1.3341443	-103,525.60

5/3/2010	0	Interest	12.3166667	77,597.00  I00.0000000 1.3341443	103,525.60
5/4/20 10	0	COI	12.311 11 11	1.00    100.0000000   l.3339709	1.33
6/2/2010	0	COi	12.1555556	2.00   100.0000000  1.3291227	2.66
7/2/2010	0	COi	11 .9888889	2.00  100.0000000  1.3239478	2.65

8/3/2010	0	COi	ll.8166667	3.00   100.0000000  1.3186215	3.96
9/2/2010	0	COI	11.6555556	4.00   100.0000000  1.3136583	5.25

10/4/2010	0	COi	11 .4777778	3.00   100.0000000  1.3082033	3.92
1 1/1/2010	0	Interest	11.3277778	-72,397.00  100.0000000 l.3036183	-94,378.05
11/1/2010	0	fnterest	11 .3277778	72,397.00  100.0000000 l.3036183	94,378.05
1 1/2/2010	0	COi	1 1.3222222	2.00	100.0000000   1 .3 034488 	2.61
12/2/2010	0	COi	11.1555556	2.00   100.0000000  1.2983738	2.60
1/4/2011	0	COi	10.9777778	2.00 100.0000000	1.2929823
2/2/2011	0	COi	10.8222222	2.00    l00.0000000 1.288283 1	2.58
3/2/2011	0	COI	10.6555556	I.DO   100.0000000  1.2832672	1.28
4/4/201 1	0	COI	1 0.4777778	1.00   I00.0000000  1.2779384	1.28

5/2/201 I	0	Interest	10.3222222	-72,397.00 100.0000000 l.2732939	-92,1 82.66
5/2/2011	0	fnterest	10.3222222	72,397.00  100.0000000 1.2732939	92,1 82.66
5/3/2011	0	COi	10.3166667	1.00	100.0000000  1.2731283	1 .27
6/2/2011	0	COI	10.1555556	LOO   100.0000000  1.2683364	1.27
7/5/2011	0	COi	9.9722222	LOO	100.0000000 1.2629053	1 .26
8/2/2011	0	COI	9.8222222	1.00	100.0000000  1.2584791	1.26
9/2/2011	0	COI	9.6555556	1.00   100.0000000  1.2535792	1.25
1 0/4/2011	0	COi	9.4777778	I.DO	100.0000000 l.2483737	1 .25
11/1/2011	0	Interest	9.3277778	-66,725.00   100.0000000 1 .2439984	-83,005.79

11/1/2011	0	Interest	9.3277778	66,725.00  100.0000000 1.2439984	83,005.79
11/2/2011	0	COi	9.3222222	1.00	100.0000000   1.2438366 	1 .24
12/2/2011	0	COi	9.1555556	1.00  100.0000000 1.2389938	1 .24
1/4/2012	0	COi	8.9777778	1.00  100.0000000  1.2338488	1.23
2/2/2012	0	COI	8.8222222	1.00  100.0000000 1.2293645	1 .23
3/2/2012	0	COI	8.6555556	LOO   100.0000000  1.2245780	1.22
4/3/2012	0	COi	8.4833333	2.00    100.0000000  1 .2196516	2.44
5/1/2012	0	Interest	8.3277778	-66,725.00	100.0000000 1.2152189	-81,085.48
5/1/2012	0	Interest	8.3277778	66,725.00	100.0000000 1.2152189	81,085.48
5/2/2012	0	COI	8.3222222	2.00	I00.0000000  1.2150608	2.43
6/4/2012	0	COI	8.1444444	2.00	I00.000QOOO  1.2100153	2.42
7/3/2012	0	COI	7.9833333	2.00   100.0000000   1.2054609	2.41
FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainDb J 16.05 EDB I 07/07/2016 J 9:25 ) Rpt15a

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Falcon Trace Community Development District	Dated:	07/01 /2007	
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007	
Purpose Expenditures Future Value Report	F11t11re Val11ed To:	06/30/20 16 
$ 4,085,000.00

T-rnpf"r1rtinn	r:.�ft'l,vn,fflr

Fund	Fuiure Vaiue  Ca/criiation Amt	FV	FV

Date	ID	ID	Description	Periods	(Int. Earnings)	Pool %	Factor	Amount
8/2/20 12	0	COi	7.8222222	2.00   l00.0000000  1.2009236	2.40
9/5/2012	0	COi	7.6388889	1.00  1 00.0000000 1. 1957812	1.20

us

1 0/2/20 12	0	COi	7.4888889	1.00  100.0000000  1.1915902	1.19
11 /2/2012	0	COi	7.3222222	2.00    100.0000000   1.1869508 	2.37
1 2/4/2012	0	CO!	7.1444444	I.OD 100.0000000	1.1820220
1/3/2013	0	COi	6.9833333	LOO   100.0000000  I.1 775729	1.18
6/3/20 14	0	COi	4.1500000	3.00   1 00.0000000  l.10201 13	3.31
6/2/20 15	2015	COi	2.1555556	4.00   1 00.0000000  1.0517485	4.21
7/1 5/2015	2016	COi	1.9166667	1 .00  100.0000000  1.0458840	1.05
8/4/20 15	2016	COi	1.81 11111	1.00    100.0000000  l.043303 1	1.04
9/2/20 15	2016	COi	1.6555556	1.00   l00.0000000  1.0395114	1.04
1 0/2/20 15	2016	COJ	1.4888889	1.00	100.0000000 l.0354641	1 .04
1 1/3/20 15	2016	COi	1.31 66667	1.00    1 00.0000000   1.0312984	1.03
12/2/2015	2016	COI	1.1555556	1.00   100.0000000  1.0274166	1.03
l/5/2016	2016	COi	0.9722222	3.00   l00.0000000  1 .0230172	3.07
2/2/20 16	2016	COI	0.8222222	5.00   1 00.0000000  1.0194317	5.10
3/2/20 16	2016	COI	0.6555556	6.00  l 00.0000000  1.0154626	6.09
4/2/2016	2016	COi	0.4888889	7 .00   100.0000000  1 .011 5089	7.08
5/3/20 16	2016	COi	0.3166667	7.00  1 00.0000000  1.0074396	7.0S
6/2/2016	2016	COi	0.1555556	7.00   100.0000000  1.0036476	7.03
6/30/2016	-1	Unspent Proceeds as of06/30/2016	0.0000000	26,419.00  100.0000000 1.0000000	26,419.00
2,554.99	-11,618.58
Arbitrage Yield limit (AYL) . , .............	4.7365179
InternalRateofReturn (]RR) ... .... .. .....	1.0208786
Future Valued To.• ..... .......... ........	6/30/2016

FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMainDb I 16,05 EDB I 07/07/2016 I 9:25 I Rpt1 5a
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Falcon Trace Community Development District	Dated:	07/01 /2007	
Special Assessment Refunding Bonds, Series 2007	. Delivered:	07/20/2007	

A.Y.L Verification Report

MSRB 30/360 SEMI 413

 	_ , , , . . .    I " I ' " ' ! ' I  I	

4,085,000.00

Ompan

Principal

Conpon

Interest

Lrea. nnn./

Periodic

Present Vaiue	Discounted

4.375

Period	Date	Pqyment	Rate	Pqyment	Sinking FundAdj	Debt Seroice	Factor	Debt Seroice	
	1 1/01/2007			58,264.60		58,264.60	0.9869522	57,504.38	
2	05/01/2008	240,000.00	4.000	87,396.87		327,396.87	0.9641194	315,649.67	
3	1 1/01 /2008			82,596.87		82,596.87	0.9418148	77,790.95	
4	05/01 /2009	250,000.00	4.000	82,596.87		332,596.87	0.9200262	305,997.82	
5	1 1/01/2009			77,596.87		77,596.87	0.8987416 	69,739.54	
6	05/01/2010	260,000.00	4.000	77,596.87		337,596.87	0.8779495	296,393.01 	
7	l l/01/2010			72,396.87		72,396.87	0.8576384	62,090.34	
8	05/01/2011 	275,000.00	4.125	72,396.87		347,396.87	0. 8377972	291 ,Q48.13	
9	1 1/01/2011			66,724.99		66,724.99	0.81841S0	54,608.73	
10 	05/01/2012	285,000.00	4.125	66,724.99		351,724.99	0.7994812	281,197.53	
11	1 1/01/2012			60,846.87		60,846.87	0.7809855	47,520.52	
12 	05/01/2013 	295,000.00	4.250	60,846.87		355,846.87	0.7629176	271,481.84	
13	1 J/01/2013			54,578.12 		54,578.12	0.7452677	40,675.31	
14	05/01/2014	310,000.00	4.250	54,578. 12		364, 578. 12 	0.7280262	265,422.42	
15 	1 1/01/2014			47,990.62		47,990.62	0.711 1835	34,130.14	
16 	05/0 1/20 15 	325,000.00	4.250	47,990.62		3 72,990.62	0.6947305	259,127.96	
17 	1 1/01/2015			41,084.37		41,084.37	0.6786581	27,882.24	
18 	05/0In016	335,000.00	4.375	41,084.37		376,084.37	0.6629576	249,327.98	
19 	ll/01/2016 			33,756.25		33,756.25	0,6476202	21,861 .23	
20	05/01/2017 	350,000.00		33,756.25		383,756.25	0.6326377	242,778.69	
21 	1 1/01/2017 			26, 100.00		26,100.00	0.6180019	16,129.85	
22	05/01/2018	370,000.00	4.500	26,100.00		396,100.00	0.6037046	239,127.38	
23	1)/01/2018			1 7,775.00		17,775.00	0.5897380	1 0,482.59	
	05/01/2019	385,000.00	4.500	17,775.00		402,775.00	0.5760946	232,036.52	
25	ll/01/2019			9,1 12.50		9,112.50	0.5627669	5,128.21	
26	05/01/2020	405,000.00	4.500	9,112.50		414,112.50	0.5497474	227,657.28	
		4,085,000.00		1,326,780.13	0.00	5,411,780.13		4,002,790.25	

 	
Trne Interest Cost (TIC). .. ............ ...	4.7864550	Face value ofbond Issue. . . . . . . . . . .  . ...	$4,085,000.00

Arbitrage YieldLimit (AYL) .. ............. 	4.7365180	Original issue premium/discount (+). .... .	($42,074.90)	
Arbitrage Net Interest Cost (ANIC). ...... .. 	4.7364961	Bond surelyfee (-). ... ............... .. 	$49,360.00	
		Lump-sum credit enhancements (•). ... .... 	$0.00	

Net Interest Cost (NJC). ........ , .. .......	4.7083762	Accrued interest (+) . ... ...... , ........	$9,225.24

Other AYL costs (·) ..... ......... ... ... 
=A YL Target. . . . . . . . . . . . . . . . ,	$4,002,790.34

FALCONTS0?-2007-A I FY: 1 I Mun-EaseElevateMalnDb 1 16.05 EDB I 07/07/2016 j 9:42 I Rpt01h
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1

Falcon Trace Community Development District Special Assessment Refunding Bonds, Series 2007
T.I.C. Verification Reoort {Regular)
4,085,000.00

1
MSRB 30/360 SEMI4/3

Dated:
Delivered:

7/1/2007
7/20/2007

4.375

	
Period	Cor,po;;
Date	Principal
Paymmt	<r.,0.1_p. on
Rate	Interesi
Payme11t	Credit
Enhanm11ents	Periodic
Debt Service	Present Value Factor	Discounted Debt Service	
	I	1 1/1/2007			58,264.60		58,264.60	0.9868172	57,496.51 	
	2	5/1/2008	240,000.00	4.000	87,396.87		327,396.87	0.9637524	31 5,529.51 	
	3	11/1/2008			82,596.87		82,596.87	0.9412267	77,742.38	
	4	5/1/2009	250,000.00	4.000	82,596.87		332,596.87	0.9192275	305,732. 18 	
	5	11/1/2009			77,596.87		77,596.87	0.8977425	69,662.01	
	6	5/1/2010	260,000.00	4.000	77,596.87		337,596.87	0.8767596	295,991.30 	
	7	ll/1/20 IO			72,396.87		72,396.87	0.8562672	61,99 1.06	
	8	5/1/201 1	275,000.00	4.125	72,396.87		347,396.87	0.8362537	290,51 1 .93	
	9	11/1/2011			66,724.99		66,724.99	0.8167081	54,494.84	
	10 	5/1/2012	285,000.00	4.125	66,724.99		351,724.99	0.7976192	280,542.61 	
	l1 	11/1/2012			60,846.87		60,846.87	0.7789765	47,398.28	
	12	5/1/2013	295,000.00	4250	60,846.87		355,846.87	0.7607696	270,717.47	
	13	1 1/1/2013			54,578. 12		54,578.12	0.7429882	40,550.89	
	14 	5/1/2014	310,000.00	4.250	54,578.12		364,578.12	0.7256224	264,546.05	
	15 	1 1/1/2014			47,990.62		47,990.62	0.7086625	34,009.15	
	16 	S/1/2015	325,000.00	4.250	47,990.62		372,990.62	0.6920990	258,146.43	
	17 	1 1/1/2015 			41,084.37		41,084.37	0.6759226	27,769.85	
	18 	5/1/2016	335,000.00	4.375	41,084.37		376,084.37	0.6601243	248,262.44	
	19 	1 1/1/2016			33,756.25		33,756.25	0.6446953	21,762.50	
	20 	5/1/2017	350,000.00		33,756.25		383,756.25	0,6296269	241,623.26	
	21 	1 1/1/2017 			26,100.00		26,100.00	0.6149107	16,049.17 	
	22	5/1/2018 	370,000.00	4.500	26,100.00		396,100.00	0.6005384	237,873.28	
	23	11/1/2018 			17,775.00		17,775.00	0.5865021	10,425.08	
	24	5/1/2019	385,000.00	4.500	17,775.00		402,775.00	0.5727939	230,707.04	
		1 1/1/2019			9,11:2.50		9,112.50	0.5594060	5,097.59	
	26	5/1/2020	405,000.00	4.500	9,112.50		414,112.50	0.5463310	226,242.52	
			4,085,000.00		1,326, 780.13	0. 00	5,411, 780.11		3,990,875.31	

True Interest Cost (TIC) .... ....... .......... 	4.7864551		Face value ofbondIssue. , ............. .	$4,085,000.00	
Net Interest Cost (NIC). ..... , . , , . , .......... 	4.7083762		Accroed interest (+} . . ... . . . ........... 
Original issue premium/discount (+) ... . .. 	$9,225.24 ($42,074.90)	
Arbitrage Yield Limit (AYL) . . ,	4.7365180
Arbitrage Net Interest Cost (ANIC) ..... . . . . . . .	4.7364961	Undenvriter dlsco1mt (+) . ..•.. , ... , , ... 	($61 ,275.00)	
Lump-sum credit enhancements (-) ........ 

Bond suretyJee (-) ........ ... ... ...... 	$0.00

NIA	
= TIC Target ........ . ....... 	$3,990,875.34	

Other TICcosts (-) ....... , , ....... .... 

FALCONTS07·2007•A I FY: 1 I Mun-EaseElevateMainDb I 16.05 EDB I 07/07/2016 I 9:43 I Rpl01a
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Falcon Trace Community Development District	Dated:	07/01 /2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Unspent Proceeds Report
$ 4,085,000.00

Cale	G,p	F11nd	Gross	Pool	Nonpmpose	P11rpose	Unspent
Date	ID	P11rp	JD	De1cription	Amo1111t	Percuntage	Investment	Exp111dit11res	Proceeds
07/20/2007	•l   N	COi	Beg. Arbitrage Gross Proceeds		100.0000000		4,052,150.33 07/20/2007		0   y		cm	105,118.00	100.0000000	105,118.00	3,947,032.33
07/20/2007	0   y	Transferred proceeds	-621,042.22	I00.0000000	-621,042.22	4,568,074.55
07/20/2007	0   y	Undetwritel's  discount and oth	110,635.27	100.0000000	110,635.27	4,457,439.28
07/20/2007	0   y	Pmt to Escrow agent	4,351,338.27	100.0000000	4,351,338.27	106,101.01

07/30/2007	0    y	COi	8,065.00	100.0000000	8,065.00	98,036.0]

08/01/2007	0   y	COi	1,000.00	100.0000000	1,000.00	97,036.01
08/23/2007	0    y	cm	5,250.00	100.0000000	5,250.00	91,786.01
08/30/2007	0   y	COi	4,790.00	l00.0000000	4,790.00	86,996.01

10/05/2007	0   y	Interest	609.00	100.0000000	609.00	86,387.01
10/05/2007	0   y	COi	367.00	100.0000000	367.00	86,020.01

11/02/2007	0   y	Interest	247.00	100.0000000	247.00	85,773.01
11/02/2007	0    y	COi	122.00	100.0000000	122.00	85,651.01

11/20/2007	0   y	Interest	58,265.00	100,0000000	58,265.00	27,386.01

12/04/2007	0   y	COl	113.00	100,0000000	113.00	27,273.01

01/03/2008	0    y	COi	117.00	100.0000000	117.00	27,156.01

07/02/2008	0   y	COi	55.00	100.0000000	55.00	24,404.01

08/04/2008	0   y	COi	56,00	100.0000000	56.00	24,348.01

09/03/2008	0   y	CO!	56.00	100.0000000	56.00	24,292.01

10/02/2008	0    y	COi	54.00	100.0000000	54.00	24,238.01

11/03/2008	0    y	lnlerest	-82,597.00	100.0000000	-&2,597.00	106,835.01
11/03/2008	0    y	Interest	82,597.00	100.0000000	82,597.00	24,238.01

11/04/2008	0   y	COi	56.00	l00,0000000	56.00	24,182.01

12/02/2008	0    y	COi	5 1.00	100.0000000	51.00	24,131.01

01/05/2009	0    y	COi	41.00	100,0000000	41.00	24,090.01
09/02/2009	0   y	COi	s.oo	I00.0000000	5.00	23,?80.01

10/02/2009	0    y	COi	4.00	100.0000000	4.00	23,976.01

FALCONTS07-2007-A I FY: 1 f Mun-EaseElevateMainDb f 16.05 EDB I 07/07/2016 f 9:25 f Rpt11

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FSpaelccioanl ATsrsaecssemCenotmRmefuunnditinygDBeovnedlso, pSmerieens t2D00is7trict

Dated:
Delivered:

07/01/2007
07/20/2007

Unspent Proceeds Report
$ 4,085,000.00

Cak Date	Grp
ID	
Pn,p	Fund
ID	
Description	Gross Amo11nf	Pool Percentage	No,p11,pon Investment	P11,pose	Unspent
Expendit11res	Proceeds	
11 /02/2009	0	y	Interest	-77,597.00	100.0000000	-77,597.00	101,573.01	
11/02/2009	0	y	Interest	77,597.00	100.0000000	77,597.00	23,976.01	

11 /03/2009	
0	y	CO!	
4.00	
100.0000000	
4.00	
23,972.01	

12/02/2009	
0	y	COi	
3.00	
100.0000000	
3.00	
23,969.01	

01/05/2010 	
0	y	COi	
2.00	
100.0000000	
2.00	
23,967.01	

02/02/20!0	
0	y	COi	
1 .00	
100.0000000	
1 .00	
23,966.01	

03/02/2010	
0	y	COi	
1 .00	
I00.0000000	1.00	
23,965.01	

01/29/2008	0	y	COi	
718.00	
100.0000000	
718.00	
26,438.01	

02/04/2008	
0	y	COi	
109.00	
100.0000000	
109.00	
26,329.01	

02/13/2008	
0	y	COi	
1,595.00	
100.0000000	1 ,595.00	
24,734.01	

03/04/2008	
0	y	COi	
79.00	
100.0000000	
79.00	
24,655.01	

04/02/2008	
0	y	COi	
73.00	
100.0000000	
73.00	
24,582.01	

05/02/2008	
0	y	COi	
62.00	
l00.0000000	
62.00	
24,520.01	

05/07/2008	
0	y	Interest	
-87,397.00	
100.0000000	
-87,397.00	
111 ,917.01	

05/12/2008	
0	y	Interest	
87,397.00	
I00.0000000	87,397.00	
24,520.01	

06/03/2008	
0	y	COi	
61.00	
100.0000000	
61 .00	
24,459.01	

02/03/2009	
0	y	COi	
29.00	I00,0000000	
29.00	
24,061.01	

03/03/2009	
0	y	COi	
1 8.00	
I00.0000000	
18.00	
24,043.01	

04/02/2009	
0	y	COi	
15.00	
100.0000000	
15.00	
24,028.01	

05/01/2009	
0	y	Interest	
-82,597.00	
100.0000000	-82,597.00	
106,625.01	
05/01/2009	0	y	Interest	82,597.00	100.0000000	82,597.00	24,028.01	

05/04/2009	
0	y	COi	
13.00	
100.0000000	
13.00	24,015.01	

06/02/2009	0	y	COi	
12.00	
100.0000000	
12.00	
24,003.01	
0110212do9	
0	fr	
COi	
10.00	

100.0000000	
10.00	
23,993.01	

08/04/2009	
0	y	COi	8.00	100.0000000	
8.00	
23,985.01	

 	

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FALCONTS07-2007-A I FY: 1 I Mun-EaseElevateMalnDb 1 16.05 EDB I 07/07/2016 ( 9:25 I Rpt11
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--

--	-  -	�_c1__ge_	3_

Delivered:	07/20/2007

Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series 2007 Unspent Proceeds Report

$ 4,085,000.00

Cale
Date	Grp
ID	
P11,p	F11nd
ID	

Description	Gross
Amount	Pool Pen:entage	Nonp111pose
Investment	P11,pose
Expenditnm	Unspent
Proceed;	

04/02/2010 		
0 y		
COi	
1.00	
100.0000000		
1.00	
23,964.01	

OS/03/2010		0 y		htterest	
•77,597.00	
100,0000000		-77,597.00	
!01,561.01	
05/03/2010 		0 y		Interest	77,597.00	100,0000000		77,597.00	23,964.01	

05/04/2010 		0 y		COi	1.00	100.0000000		1 .00	
23,963.01	

06/02/2010		0 y		COi	2.00	!00.0000000		2.00	
23,961.01	

07/02/2010		

0 y		COi	

2.00	100.0000000		2.00	
23,959.0]	

08/03/2010		0 y		
COi	
3.00	
100.0000000		
3.00	23,956.01	
09/02/2010		0 y		COi	4.00	

100.0000000		4.00	23,952.01	

10/04/2010		0 y		COi	3.00	100.0000000		3.00	
23,949.01	

05/02/2011		0 y	
	Interest	72,397.00

	100.0000000		72,397.00	
23,939.01	

05/0312011 		0 y		cor	1.00	100.0000000		
1.00	
23,938.01	
06/02/2011		0 y		COi	1.00	100.0000000		1 .00	23,937.01	

07/05/2011 		0 y		COi	
1 .00	
100.0000000		
1.00	
23,936.01	

08/02/2011 		0 y		COi	LOO	100.0000000		1 .00	23,935.01	
09/02/2011 		0 y		COi	1 .00	100.0000000		1.00	23,934.01	

1 0/0412011		0 y		COI	1 .00	100.0000000		1.00	23,933.01	

11/0In011		0 y		Interest	
-66,725.00	
100.0000000		-66,725.00	
90,658.01	
ll/01/201 l		0 y		Interest	66,725.00	100.0000000		66,725.00	23,933.01	

06/04/2012		0 y		COi	2.00	100.0000000		
2.00	
23 ,922.01	

07/03/2012		0 y		cor	
2.00	
100.0000000		
2.00	
23,920.01	

08/02/2012		0 y		COi	
2.00	\00.0000000		2.00	
23,918.01	

09/05/2012 		0 y		COi	1.00	100.0000000		1.00	23,917.01	

10/02/2012 I		0 y		cor	
1 .00	100,0000000		1.00	
23,916.01	

11/02/2012		0 y		cor	
2.00	
I00.0000000		
2.00	
23,914.01	

Falcon Trace Community Development District	Dated:	07/01 /2007
Special Assessment Refunding Bonds, Series 2007	Delivered:	07/20/2007
Unspent Proceeds Report

Cale

G,p

FHlld

Gross

Pool	No,tp11Tpose

P111pose

Unspent

$ 4,085,000.00

Date	ID	P11,p	ID	Description	Amount	Percentage	Investment	Expendit11rrs	Proceed.r	
12/04/2012 	0	y		COI	1.00	I00.0000000		1 .00	23,913.01	
01 /03/2013 	0	y		COI	1 .00	I00.0000000		1.00	
23,912.01	
06/03/2014	0	y		COI	3.00	100.0000000		
3.00	23,909.01	
03/02/2016	2016	y		COI	6.00	100.0000000		
6.00	
23,885.01	

04/02/2016	
2016	y		CO!	7.00	100,0000000		
7.00	
23,878.01	
05/03/2016	2016	y		COi	7.00	100.0000000		
7.00	
23,871.01	
06/02/2016 	2016	y		CO!	7.00	100.0000000		7.00	23,864.01	
11/01/2010	0	y		Ialerest	-72,397.00	100.0000000		
-72,397.00	
96,346.01	
11/01/2010 	0	y		laterest	72,397.00	100,0000000		72,397.00	23,949.01	

11/02/2010	0	y		CO!	2.00	l 00.0000000		
2.00	
23,947.01	
1 2/02/2010	0	y		COi	2.00	100,0000000		
2.00	
23,945.01	

01 /04/2011	
0	y		COi	2.00	100.0000000		
2.00	
23,943.01	
02/02/20 11 	0	y		COi	2.00	100.0000000		
2.00	
23,941 .0) 	

03/02/2011 	0	y		COI	1.00	100.0000000		
1.00	
23,940.01	

04/04/201 1	
0	y		
COi	1.00	100,0000000		
1.00	
23,939.01	
05/02/201 1	0	y		laterest	-72,397.00	100,0000000		-72,397.00	
96,336.01	

11/02/2011 	0	y		COi	1 .00	100.0000000		
1.00	23,932.01	

12/02/2011 	0	y		COi	1.00	100.0000000		1.00	23,931.01	

01/04/2012	
0	y		cor

1 .00	
100,0000000		
LOO	
23,930.01	
02/02/2012	0	y		COi	1.00	100.0000000		1.00	23,929.01	
03/02/2012	0	y		COi	1.00	100.0000000		1.00	23,928.01	
04/03/2012	0	y		COi	2.00	100.0000000		
2.00	
23,926.01	
05/01/2012
	0	y		Interest	-66,725.00	100.0000000		-66,725.00	90,651.01	
05/01/2012	0	y		Interest		66,725.00	100.0000000		66,725.00'	23,926.01	
05/02/2012	0	y		COi	2.00	l00.0000000		2.00	23,924.0 1	

FALCONTS07,2007-A I FY: 1 1 Mun-EaseElevateMalnDb 1 16.05 EDB I 07/07/2016 I 9:25 l Rpt11

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Falcon Trace Community Development District Special Assessment Refunding Bonds, Series 2007 Unspent Proceeds Report
$ 4,085,000.00

Dated: Delivered:

07/01 /2007
07/20/2007

Caic
Date	G,p
ID	
Pu,p	Fnnd
ID	
Dumption	Gro.rs
Amo1111t	Pool
Percentage	Nonp11,pose Investment	P111pose Expenditures	Unspent
ProceedJ	
06/02/2015	2015	
y		car	4.00	100.0000000		4.00	23,905.01	
07/15/2015	2016	
y		car	1.00	100.0000000		1 .00	23,904.01	
08/04/2015	2016	y		COi	1 .00	100.0000000		1.00	23,903.01	
09/02/2015	2016	
y		car	1.00	I00.0000000		1.00	23,902.01	
l0/02/2015	2016	y		COi	1.00	l00.0000000		1 .00	23,901 .01 	
11/03/2015 	2016	y		car	1 .00	100.0000000		l.00	23,900.01	
12/02/2015	2016	y		CO!	1 .00	100.0000000		1 .00	23,899.01	
01/05/2016	2016	y		COi	3.00	100.0000000		3.00	23,896.01	
02/02/2016	2016	y		COi	5.00	100.0000000		5.00	23,891.01	
					4,028,286.32		0.00	4,028,286.32		

	First Investment Date. ...... ..... ....... . ..... 	7/20/2007	
	Calculation Date . ....... ... ..... ......... . .. 	6/30/2016	
	Arbitrage Yield Limit (AYL). .......... , ... ..... 	4.7365179	
	Internal Rate ofReturn (IRR). ................. 	1.0208786	

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Falcon Trace Community Development District	Dated:	07/01/2007
Special Assessment Refunding Bonds, Series :2007	Delivered:	07/20/2007
I.R.R. Report Via Purpose Expenditures

Grp
ID	Tmn,
Date	F.ttnd
ID	

Description	Dqy Count Calcuiation Amt	Pooi Fador	(Interest Earnings) Pag	** Intemai Rate efRctum **
PVFador	PVAmt		
-I	07/20/2007		Beg. Arbitrage Gross Proceeds	0.0000000	(4,052,150.33) JOO.ODO	1.0000000	(4,052,150.33)		
0	07/20/2007		Pmt to Escrow agent	0.0000000	4,351 ,338.27 100.000	1.0000000	4,351 ,338.27		
	07/20/2007		Underwriter's discount and oth	0.0000000	110,635.27 100.000	1.0000000	110,635.27		
	07/20/2007		Transferred proceeds	0.0000000	(621 ,042.22) 100.000	1.0000000	(621 ,042.22)		
	07/20/2007
07/30/2007		COI
COI	0.0000000	105,118.00 100.000
0.0555556	8,065.00  100.000	1.0000000	1 05,11 8.00		

$ 4,085,000.00

0.9997 172	8,062.72

08/23/2007	COI	0.1833333	5,250.00 100.000	0.9990670	5,245.10 	
	4,790.00 100.000	0.9988692	4,784.58	
1 0/05/2007	COI	0.4166667	367.00 100.000	0.9978808	366.22	

08/01/2007	COi	0.06lllll	1,000.00 100.000  0.9996889	999.69

08/30/2007	COI	0.2222222
1 0/05/2007	Interest	0.4166667	609.00  100.000   0.9978808	607.71

0.5666667	247.00 100.000	0.9971 190	246.29	
0.6666667	58,265.00 100.000	0.9966115	58,067.57	
0.7444444	113.00 100.000	0.9962169	112.57	
0.9055556	11 7.00 100.000	0.9954001	116.46	
1.0500000	718.00 100.000	0.9946683	714. 17 	
1.0777778	109.00 100.000	0.9945276	108.40	
l.1277778	1,595.00 100.000	0.9942745	1,585.87	
1 .2444444	79.00 ·100.000	0.9936841	78.50	
1.4000000	73.00 l00.000	0.9928974	72.48	
1.5666667	62.00 100.000	0.9920552	61.51 	

1 1/02/2007	COi	0.5666667	122.00  100.000   0.9971190	121.65
1 1/02/2007	Interest
1 1/20/2007	Interest
12/04/2007	COI
01/03/2008	COI
01/29/2008	COI
02/04/2008	COI
02/13/2008	COI
03/04/2008	COI
04/02/2008	COI
05/02/2008	COI
05/07/2008	Interest	1.5944444	(87,397.00) 100.000  0.9919149	(86,690.39)

05/12/2008	Interest	1.6222222	87,397.00 100.000 0.9917746	86,678. 13 

54.47

06/03/2008	COI	1.7388889	61.00  100.000  0.991 1857	60.46

2.0777778	56.00 100.000	0.9894769	55.41	
2.2388889	56.00 100.000	0.9886656	55.37	
2.4000000	54,00 100.000	0.9878550		
2.5722222	82,597.00 100.000	0.9869891	81,522.34	
2.5722222	(82,597.00) 100.000	0.9869891	(8 1 ,522.34)	
2.5777778	56.00 100.000	0.9869612	

55.27	
2.7333333	51.00 100.000	0.9861799	50.30	
2.9166667	41.00 100.000	0.9852598	40.40	
3.0722222	29.00 100.000	0.9844798	28.55	
3.2388889	1 8.00 100.000	0.9836447	17.71	
3.4000000	15.00 100.000	0.9828382	14.74	
3.5611Ill 	82,597.00 100.000	0.9820323	81,112.92	
3.56 lllll 	(82,597.00) 100.000	0.9820323	(81,1 12.92)	
3.5777778	13.00 100.000	0,9819490	12.77	
3.7333333	12.00 100.000	0.9&11716	11.77	
3.9000000	10.00 100.000	0.9803393	9.80	
4.0777778	8.00 100.000	0.9794524	7.84	

07/02/2008	COI	1.9000000	55.00 100.000	0.9903730
08/04/2008	COi
09/03/2008	COI
10/02/2008	COI
1 1/03/2008	Interest
1 1/03/2008	Interest

1 1/04/2008	COI
12/02/2008	COI
01/05/2009	COi

02/03/2009	COI
03/03/2009	COi
04/02/2009	COi
05/01/2009	Interest
05/01/2009	Interest
05/04/2009	COi
06/02/2009	COI
07/02/2009	COI
08/04/2009	COI
09/02/2009	COi	4.2333333	5.00  JOO.ODO  0.9786770	4.89
10/02/2009	COI	4.4000000	4.00  100.000   0.9778469	3.91

4.5666667	77,597.00 100.000	0.9770174	75,813.62	
4.5722222	4.00 100.000	0.9769898		
4.7333333	3.00 100.000	0.9761887	2.93	
4.9166667	2.00 100.000	0.9752780	1.95	
5.0666667	1.00 100.000	0.9745334	0.97	
5.2333333	1.00 100.000	0.9737068	0.97	
5.4000000	1 .00 100.000	0,9728809	0.97	

11/02/2009	Interest	4.5666667	(77,597.00) I00.000 0.9770174	(75,8 13 .62}

11/02/2009	Interest
11/03/2009	COi
12/02/2009	COI
01/05/2010	COi
02/02/2010	COi
03/02/2010	COI

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04/02/2010	COI

Delivered:	07/20/2007

SFpaelccoianl ATsrsaecssemCenotmRmefuunnditinygDBeovnedlso, pSmerieenst2D00is7trict	Dated:	07/01/2007
I.R.R. Report Via Purpose Expenditures

Gtp
ID

Tra111
Date

Dqy Count   Calmlation Amt	Pool	** IntcmalRate of&tum **

ID

Dosr:ription

Factor

(Intrrresl Earnings)   Pctg    PVFactor

PVAmt

F1111d

$ 4,085,000.00
0  05103/20I 0	Jnterest	5.5722222	77,597.00 100.000  0.9720282	75,426.47
05/0312010	Interest	5.5722222	(77,597.00) 100.000 0.9720282	(75,426.47)
05/0412010	cor	5.5777778	1.00  100.000   0.9720007	0.97
06/02/2010	COI	5.7333333	2.00 100.000	0.9712312
07/02/2010	COi	5.9000000	2.00  100.000   0.9704074	1.94

08/03/2010	COi	6.0722222	3.00  100.000   0.9695568	2.91

09/02/2010	COI	6.2333333	4.00  100.000   0.9687619	3.88
10/04/2010	COI	6.4llllll	3.00  100.000   0,9678854	2.90
11/0112010	Interest	6.56lllll	72,397.00 1 00.000  0.9671465	70,01 8.50
11/01/2010	Interest	6.5611111	(72,397.00) 100.000  0.9671465	(70,018.50)
ll/02/2010	COI	6.5666667	2.00  100.000   0.9671191	1.93
12/02/2010	COI	6.7333333	2.00 100.000	0.9662988
01/04/2011	COI	6.9111111	2.00  1 00.000   0.9654246	l.93
02/02/2011	COi	7.0666667	2.00  100.000  0.9646603	1 .93
03/02/2011	COI	7.2333333	1.00 10 0.000   0.9638420	0.96

04/04/2011	COi	7.4111111	1.00  100.000    0.9629700	0.96
05/02/2011	Interest	7.5666667	72,397.00 100.000  0.9622077	69,660.95
05/02/2011	Interest	7.5666667	(72,397.00) 100.000 0.9622077	(69,660.95)
05/03/201 1	COi	7.5722222	1.00  100.000   0.9621804	0.96
06/0212011	COi	7.7333333	1.00  100.000   0.9613915	0.96
07/05/2011	COI	7.9166667	1.00   1 00.000   0.9604945	0.96
08/02120 11	COi	8.0666667	1.00  100.000    0.9597613	0.96

09/0212011	COi	8.2333333	1 .00  100.000   0.9589472	0.96
10/04/2011	COi	8.4l lllll	1.00  1 00.000  0.9580796	0.96
11/0112011	Interest	8.56lllll	66,725.00   100.000    0.9573482	63,879.06
11/01/2011	Interest	8.5611111	(66,725.00) 100,000   0.9573482	(63,879.06)
11/02/2011	COi	8.5666667	1.00 100.000 0.9573211	0,96
12/02/2011	COi	8.7333333	1 .00  1 00.000    0.9565091	0.96
01/04/20 12	COi	8.9llllll	1.00  100.000   0.9556437	0.96
02/02/2012	COi	9.0666667	1.00  100.000   0.9548872	0.95
03102/2012	COI	9.2333333	1.00  100.000   0.9540772	0.95
04/03/2012	CO!	9.4055556	2.00  100.000  0.9532410	l.91
05/01/2012	Interest	9.56lllll	(66,725.00) 100.000  0.9524863	(63,554.65)
05/01/20 12	Interest	9.56lllll	66,725.00 100.000  0.9524863	63,554.65
05/02/2012	COi	9.5666667	2.00  100.000   0.9524594	1.90

06/04/2012	COi	9.7444444	2.00  100.000   0.9515977	1.90
07/03/2012	COI	9.9055556	2.00 100.000  0.9508174	1 .90
08/0212012	COI	10.0666667	2.00  100.000   0.9500378	1.90
09/05/2012	COi	1 0.2500000	·  1.00   100.000    0.9491514	0.95
10/0212012	COI	10.4000000	1.00  100.000   0.9484268	0.95
11/02/2012	COI	10.5666667	2.00 100.000  0.9476223	l.90
12/04/20 12	COi	10.7444444	1.00  100.000   0.9467650	0.95
01/03/2013	COi	10.9055556	1.00  100.000   0.9459887	0.95
06/03/20 14	COI	13.7388889	3.00  100.000   0.9324402	2.80
2015 06/02/20I5	COi	15.7333333	4.00  100.000   0.9230196	3.69
2016 07/15/2015	COi	15.9722222	1.00   100.000   0.9218976	0.92
08/04/2015	COI	16.0777778	LOO   100.000    0.9214023	0.92
09/02120 15	COi	16.2333333	1.00  100.000   0.9206728	0.92

.

1 0/02/2015	COI	16.4000000	1 .00 , 100.000    0.9198919	0.92
11/03/2015	COi	16.5722222	J.00  100.000   0.9190&'56	0.92
12102/2015	COI	16.7333333	1.00   100.000    0.9183320	0.92
01/05/2016	COi	1 6.9166667	3.00  100.000   0.9174752	2.75
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Falcon Trace Community Development District
Special Assessment Refunding Bonds, Series 2007
I.R.R. Report Via Purpose Expenditures
$ 4,085,000.00

Dated: Delivered:

07/01 /2007
07/20/2007

G,p ID

Tra11r
Date

F1111d
ID

-a..,-n"!J"fl\1 f-...,ll"rin-uHH1'f    r'--"U',,,f1lr,.,,JH,,U'A#,.1,;Cf/1i'_.I �A.J.F-.Tl/i,1-	Pool	**Internal Raie ofR.iiurn **

Description

Factor

(J.11terest Earnings)   Pctg    PVFactor

PVAmt

2016  02/02/2016
03/02/2016
04/02/2016
05/03/2016
06/02/2016
99999 06/30/2016

COi	17.0666667
COi	17.2333333
COi	17.4000000
COi	17.5722222
COi	1 7.7333333
Unspent Proceeds as of06/30/2016	17.8888889
Arbitrage YieldLimit • .. .... .... . .. .. 
lntemalRate ofReturn • ••••.. ..•.	•. 
Calculation Standard. .. .. ..... .. ... .

5.00 100.000 0.9167748
6.00 100.000 0.9159972
7.00 100.000  0:9152203
7.00 100.000 0.9144181
7.00 100.000 0.9136683
26,419.00 100.000 0.9129450
2,554.99

4,7365179
1.0208786
MSRB 30/360 SEMI 4/3

4.58
5.50
6.41
6.40
6.40
24,1 19.09
0.01

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c.n

NOTICE OF MEETING DATES FALCON TRACE
COMMUNITY DEVELOPMENT DISTRICT
The Board  of Supervisors of the Falcon Trace Community Development District will hold their regularly scheduled public meetings for Fiscal Year 2017 at 6:00 pm at the Big Hawk Lake Recreation Center, 13600 Hawk Lake Drive, Orlando, Florida 32837 on the third Wednesday of the month as follows:

October 19, 2016
January 18, 2017
March 15, 2017
May 17, 2017
July 19, 2017
August 16, 2017

The meetings are open to the public and will be conducted in accordance with the provisions of Florida Law for Community Development Districts. A copy of the meeting agenda may be obtained from the District Manager at 135 W. Central Blvd., Suite 320, Orlando, FL 32801.

The meeting may be continued to a date, time, and place as evidenced by motion of the majority of Board Members participating. There may be occasions when one or more Supervisors will participate by telephone.

Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Office at (407) 841- 5524 at least forty-eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service 1-800-955-8770, for aid in contacting the District Office.

Each person who decides to appeal any action taken at these meetings is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the

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such appeal is to be based.

George S. Flint District Manager
Governmental Management Services - Central Florida, LLC