Poitras East Community Development District
12051 Corporate Boulevard, Orlando, FL 32817; Phone: 407-723-5900
http://poitraseastcdd.com/
The following is the proposed agenda for the upcoming Meeting of the Board of Supervisors for the Poitras East Community Development District which will be held Tuesday, August 18, 2020 at 4:00
p.m. using telephonic conferencing due to the COVID-19 Executive Order 20-179. The proposed agenda for this Board Meeting is found below.

Please use the following information to join the telephonic conferencing:

Phone:	1-844-621-3956	Participant Code:	796 580 192#

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Roll Call to Confirm Quorum
Public Comment Period
Discussion regarding Executive Order 20-179
Consideration of the Minutes of the July 21, 2020 Board of Supervisors’ Meeting
Consideration of Resolution 2020-13, Approving an Annual Meeting Schedule for Fiscal Year 2021
Discussion regarding Materials on the District Website

Consideration of Matters Relating to the Issuance of the Series 2020 Bond Anticipation Note
Presentation of Term Sheet with Synovus Bank
Consideration of Resolution 2020-14, Authorizing the Issuance of and Awarding the Sale of Its Not Exceeding $25,000,000 Principal Amount of Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020
First Supplemental Trust Indenture
Term Sheet
Presentation of the Supplemental Assessment Methodology Report for the Series 2020 Bond Anticipation Note
Consideration of Resolution 2020-15, Setting Forth the Terms of the Series 2020 Note; Confirming the Engineer’s Report; Confirming and Adopting the Supplemental Assessment Methodology Report; Confirming, Allocating, and Authorizing the Collection of Special Assessments Securing the Series 2020 Note
Consideration of Agreement by and between the District and TDCP, LLC Regarding the Completion of Certain Improvements
Consideration of Acquisition and Advanced Funding Agreement
Presentation of Notice of Series 2020 Assessments Business Matters

Consideration of Appointment to Construction Committee
Consideration of Acquisition of Luminary Boulevard 1A Right of Way and Discussion Regarding Appraisal
Consideration of Revision to Engineer’s Report and Capital Improvement Program
Consideration Personnel Leasing Agreement
Consideration of Berman Agreement
Public Hearing on the Adoption of the District’s Annual Budget
Public Comments and Testimony
Board Comments
Consideration of Resolution 2020-16, Adopting the Fiscal Year 2021 Budget and Appropriating Funds
Consideration of Fiscal Year 2020-2021 Funding Agreement
Consideration of Resolution 2020-17, Authorizing Disbursement of Funds
Ratification of Payment Authorization Nos. 072 – 076
Recommendation of Work Authorization/Proposed Services (if applicable)
Review of District’s Financial Position and Budget to Actual YTD

Other Business
Staff Reports
District Counsel
District Manager
District Engineer
Construction Supervisor
Supervisor Requests

Adjournment

Poitras East Community Development District

Executive Order 20-179

STATE OF FLORIDA
OFFICE OF THE GOVERNOR EXECUTIVE ORDER NUMBER 20-179
(Emergency Management - COVID- 19 - Local Government Public Meetings)

WHEREAS, Executive  Order  20-69,  as  extended  by  Exec utive  Order  20-112. Exec utive O rder 20-123, Executive Order 20-139 and Execut ive Order 20-150, ex pires on August 1. 2020, unless extended; and
WHEREAS, Executive Order 20-69 requires amendment to address foreseeable Truth in Millage ("TRIM"), non ad valorem assessment, and value adjustment board related issues.
NOW, THEREFORE, I, RON DESANTIS, as Governor of Florida. by virtue of the authority vested in me by Article  IV, Section  (])(a)  of the Florida  Constitution,  Chapter 252, Flo rida Statutes, and all other applicabl e laws. promulgate the following Exec uti ve Order to take immediate effect:
Section I.

Executive Order 20-69 is amended to include Section 5, as follows:

A For any taxing authority holding a millage and budget  hearing  under Chapter 200. Flor ida Statutes, or a local gove rning board holding a hearing or meeting  regarding a  non ad valo rem assessment , including, but not limited to, those under sectio n 197.3632, Florida Statutes, I hereby suspend any Florida Statute that require s a quorum or supermajority of the membership to be present in person or requires the local government body to meet at a specific public place.
A taxing authority holding a millage and budget hearing under Chapter 200. Flo rida Statutes, or a local governing board holding a hearing or meetin g rega rdin g a non ad valorem

assess me nt incl uding, but not limited to, those under section 197.3632. Florida Statutes. may utilize com municat ion s media technology, such as telepho nic and video confe re nc ing. as provided in sectio n l 20.54(5)(b)2., Florida Statutes.
This Executive Order does not waive any other requirement  und er the  Florida Co nstitutio n and " Florida ' s Government in the Sunshine Laws," including Chapter 286, Florida S tatutes.
The provisions set forth in this section shall expire at 12:01 a. m. on October 15 ,

2020.

Section 2.

Executive Order 20-69 is amended to include Section 6, as follows:

For any value adjustment board incl uding , but not limit ed to, spec ia l mag is trates, holding a hearing or meeting under Chapter 194, Florida Statute s. I hereby suspend any
Flo rida Statute or rule that requires a quorum or individual to be prese nt in person or requires the local government body or individual to meet at a specific public place.
A value adjustment  board  including,  but  not  limited  to,  specia l  magistrates,  holding a hea ring or meeting under Chapte r 194, Florida Stat utes, may utili ze comm uni catio ns media technology , such as telephonic and video conferencing, as provided in sec tion 1 20. 54(5)(b)2.. Florida Stat utes.
This Executive Order does not waive any other requireme nt under the Florida Constitution and " Florida' s Government in the Sunshine Laws," including Chapter 286, Florida Statutes.
The provisions set forth in this sect io n sha ll exp ire at 12:0 I a.m. on December 15 ,

2 0 20.

Section 3. Except as amended herein, I here by exte nd Executive Orde r 20-69. as extended by  Executive  Orders  20-112 ,  20-123,  20-139  and  20-150 ,  until  12:0l  a.m.  on Se ptember l , 2020.

IN T EST IM ONY WHEREO F. I ha ve beri un to set my hand and cause d the Grea t Sea l o f  the State of Florida to be aflixcd, at Talla hassee, this

29th day of

, 2020.

ATT EST:

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POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

NOTICE OF PUBLIC HEARING TO CONSIDER THE ADOPTION OF THE FISCAL YEAR 2020/2021 BUDGET; NOTICE OF POSSIBLE REMOTE PROCEDURES DURING PUBLIC HEALTH EMERGENCY DUE TO COVID-19; AND NOTICE OF REGULAR BOARD OF SUPERVISORS’ MEETING.

The Board of Supervisors (“Board”) of the Poitras East Community Development District (“District”) will hold a public hearing on August 18, 2020 at 4:00 p.m. at the Courtyard Orlando Lake Nona, 6955 Lake Nona Boulevard, Orlando, Florida 32827, for the purpose of hearing comments and objections on the adoption of the proposed budget (“Proposed Budget”) of the District for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021”). A regular board meeting of the District will also be held at that time where the Board may consider any other business that may properly come before it. A copy of the agenda and Proposed Budget may be obtained at the offices of the District Manager, 12051 Corporate Blvd., Orlando, Florida 32817, (407) 723-5935 (“District Manager’s Office”), during normal business hours, or by visiting the District’s website at www.poitraseastcdd.com.

It is anticipated that the public hearing and meeting will take place at the Courtyard Orlando Lake Nona, 6955 Lake Nona Boulevard, Orlando, Florida 32827. In the event that the COVID-19 public health emergency prevents the hearing and meeting from occurring in-person, the District may conduct the public hearing by telephone or video conferencing communications media technology pursuant to governmental orders, including but not limited to Executive Orders 20-52, 20-69, and 20-123 issued by Governor DeSantis, and any extensions or supplements thereof, and pursuant to Section 120.54(5)(b)2., Florida Statutes.

While it may be necessary to hold the above referenced public hearing and meeting utilizing communications media technology due to the current COVID-19 public health emergency, the District fully encourages public participation in a safe and efficient manner. To that end, anyone wishing to listen to and/or participate in the meeting can do so telephonically at 1-844-621-3956, Participant Code: 796 580 192#. Participants are strongly encouraged to submit questions and comments to the District Manager’s Office at 12051 Corporate Blvd., Orlando, Florida 32817 or by calling (407) 723-5935 by August 17, 2020 at 5:00 p.m. in advance of the meeting to facilitate the Board’s consideration of such questions and comments during the meeting.

The public hearing and meeting are open to the public and will be conducted in accordance with the provisions of Florida law. The public hearing and meeting may be continued to a date, time, and place to be specified on the record at the meeting. There may be occasions when Board Supervisors or District Staff may participate by speaker telephone.

Any person requiring special accommodations at this meeting because of a disability or physical impairment should contact the District Manager’s Office at least forty- eight (48) hours prior to the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955- 8770 (Voice), for aid in contacting the District Manager’s Office.

Each person who decides to appeal any decision made by the Board with respect to any matter considered at the public hearing or meeting is advised that person will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

Jennifer Walden District Manager

[NOTE: PUBLISH TWICE, ONE WEEK APART WITH FIRST PUBLICATION AT LEAST 15 DAYS PRIOR TO THE PROPOSED BUDGET HEARING]

Poitras East Community Development District

Minutes of the July 21, 2020 Board of Supervisors’ Meeting

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS’ MEETING MINUTES

FIRST ORDER OF BUSINESS

The Board of Supervisors’ Meeting for the Poitras East Community Development District was called to order on Tuesday, July 21, 2020, at 4:00 p.m. via telephonic conferencing due to the COVID-19 Executive Orders 20-52, 20-69, & 20-123.
Present via Speakerphone:

Richard Levey	Chairperson	(via phone)
Rob Adams	Vice-Chair	(via phone @4:01 p.m.)
Brent Schademan	Assistant Secretary	(via phone)
Julie Salvo	Assistant Secretary	(via phone)
Frank Paris	Assistant Secretary	(via phone@ 4:02p.m.) Also, attending via phone:
Jennifer Walden	PFM	(via phone)
Lynne Mullins	PFM	(via phone)
Brent Wilder	PFM	(via phone)
Kevin Plenzler	PFM	(via phone)
Tucker Mackie	Hopping Green & Sams	(via phone)
Jeff Newton	Donald W. McIntosh Associates, Inc.	(via phone)
Larry Kaufmann	Construction Supervisor & Construction Committee Member (via phone)
Scott Thacker	District Landscape Supervisor & Construction Committee Member	(via phone)

SECOND ORDER OF BUSINESS	Public Comment Period

Dr. Levey asked for any public comments. There were no comments at this time.

THRID ORDER OF BUSINESS	Discussion	Regarding	Executive Orders 20-52, 20-69 and 20-123

Ms. Walden noted that included in the packet are the Executive Orders which state that the District can hold their meetings via telephonic conferencing due to the COVID-19 situation. Also, included is a proof of the ad that was placed for today’s meeting which notes those executive orders as well as the telephonic conferencing information so the public can join.

FOURTH ORDER OF BUSINESS	Consideration of the Minutes of the June 16, 2020, Board of Supervisors Meeting

Ms. Walden noted for the record that Mr. Adams joined the meeting at 4:01 p.m. The Board reviewed the minutes of the June 16, 2020, Board of Supervisors Meeting.

On Motion by Mr. Schademan, second by Ms. Salvo, with all in favor, the Board of Supervisors for the Poitras East Community Development District approved the Minutes of the June 16, 2020, Board of Supervisors Meeting.

FIFTH ORDER OF BUSINESS	Public Hearing on the Imposition of Special Assessments
Presentation	of	the	Engineer’s Report
Presentation	of	the	Master Assessment Methodology Report
Public Comments and Testimony
Board Comments
Consideration of Resolution 2020- 12, Levying Special Assessments

Ms. Mackie requested a motion to open the Public Hearing.

On Motion by Ms. Salvo, second by Mr. Schademan, with all in favor, the Board of Supervisors for the Poitras East Community Development District opened the Public Hearing.

Ms. Mackie explained the District developed several Capital Improvement Plans, one of which is for the purpose of validation, which the District authorized at a prior meeting and is currently under way. The second is an Engineer’s Report for the Capital Improvement Program for Master Infrastructure Improvements, which is the subject of the Public Hearing.

In advance of financing with long term bonds, the District is required to go through a process referred to as the 170 process, which provides for a public hearing on Special Assessments that may be levied and collected in the future to secure a Bond Issuance. The purpose of the Public Hearing today is for the Board to consider the Capital Improvement Plan and an Assessment Methodology that provides for a method by which assessments will be allocated to various properties that benefit from the CIP. Those two reports will be reviewed at the outset and it will conclude with the consideration of a resolution that will levy a Master Assessment over benefiting properties. In the future, when the District does anticipate either a Bond Anticipation Note or an issuance of bonds, then the Board will consider a Supplemental Assessment

Resolution which will tie the terms of the bond issuance to the assessments that are ultimately levied and collected.

In advance of the public hearing today, the District complied with the requirements under Chapter 170 of the Florida Statutes with respect to advertisement, which include a public advertisement that was required to run in the newspaper and a mailed notice to all Landowners withing the District that would be affected by the assessments. Ms. Mackie asked Ms. Walden to confirm whether the District received any comments outside of those that might be made today on the record. Ms. Walden stated the District did not receive any such comments.

Mr. Newton reviewed the District Engineer’s Report. He outlined the listing and written description of the various improvements being proposed as part of the CIP. There is an initial and future phase. He outlined the Table that provides the Engineer’s Opinion of Probable Cost, which includes costs associated with the initial phase of improvements, the future phase of improvements and the column on the far right outlines the total Capital Improvement Program of approximately $53,000,000.00. The cost is categorized into roadways, potable water, sanitary sewer, reclaimed water, and the various components of the CIP. Table 2 outlines the various components of the District’s CIP and who is the ultimate ownership entity and who is the ultimate operation and maintenance entity. Most of the improvements will ultimately go to the City of Orlando, OUC, or Orange County Utilities. The common areas and landscaping maintenance will remain with the District and there is a small portion of the sanitary sewer system that is intended to remain with the District.

There is a graphic which depicts the Phase 1 improvement’s including Luminary Boulevard from Narcoossee Road to Centerline Drive and Centerline Drive Segment G, which extends up into Lake Nona to the other side of the Primary Conservation Network. It also includes Selten Way, a roadway (Street A) that runs south from a roundabout near the middle of Luminary Boulevard , turn lane and signalization improvements on Narcoossee Road, a sewer force main that extends up the Narcoossee Corridor and a couple of lift stations. The future improvements include the extension of Street A down to Boggy Creek Road, the extension of Centerline Drive down to Boggy Creek Road, and the extension of Luminary Boulevard to the western boundary of the District. There are also turn lanes and signalization that are anticipated in the future on Boggy Creek Road.

He was asked should the City require alleyways to be maintained by others would that be depicted in the Engineer’s Report. He responded the Engineers Report currently anticipates that the District could own and maintain improvements within the alleys and does not anticipate that the District would finance the construction of those alleys.

Ms. Mackie asked Mr. Newton based on his professional experience are the cost estimates in the Engineer’s Report reasonable and proper. He replied yes. Ms. Mackie asked him if he is aware of any reason the Capital Improvement Plan can’t be carried out by the District. He replied there is no reason for him to anticipate it can’t be carried out. There is a PCN crossing of Centerline Drive Segment G that needs to be permitted but he does not anticipate any reason the District cannot build the CIP subject to acquisition of the required permits.

Mr. Plenzler Presented the Master Assessment Methodology Report which outlines the maximum assessments that will secure the repayment of Bonds that could be issued by the District. Table 1 provides information about the Development Program as provided by the District Engineer and is summarized within

the document. Table 2 outlines the CIP provided by the District Engineer; Table 4 of the document outlines the Estimated Bond Principle Associated with the District’s Bond Issuance of just over $69,700,000,00, which would account for all $53,000,000.00 of the District’s CIP. Tables 5 and 6 provide a detailed allocation of assessments on Principal and Annual Assessments. Table 5 outlines the Principal per unit allocation based on the forecasted mix of units in the ERU allocation and similarly Table 6 notes the annual assessments associated with that based the maximum bond sizing for the District. He analyzed the Bond Debt Service Assessments within the Report on both an acreage and per lot basis and finds the assessments to be reasonably and equitably allocated and that the benefit received by each of the District’s property owners from the District’s CIP will exceed the cost of the related assessments.

Mr. Adams stated what is shown in the report are the maximum assessments that could be issued and not necessarily what will be issued when debt is issued for the District. Mr. Plenzler confirmed. This is the maximum the District would notice and if they were exceeded the District would have to go back through this process again at a later date.

Ms. Mackie asked Mr. Plenzler if the lands subject to the Assessments receive special benefits from the District’s Master CIP. He said they do. Ms. Mackie asked if the Special Assessments identified in the Master Assessment Methodology Report are reasonably apportioned among the lands subject to the Assessments. Mr. Plenzler said yes. Ms. Mackie asked if it is reasonable, proper, and just to assess the cost of the Master Project against the lands in the District in accordance with the Methodology, which results in the Special Assessments that are contained in the Assessment Roll at the end of the Report. Mr. Plenzler said yes. Ms. Mackie asked if the special benefits that the lands receive as set forth in that roll will be equal to or in excess of the maximum special assessments on the lands when allocated and Mr. Plenzler said yes. Ms. Mackie asked if it is in the best interest of the District that the Maximum Special Assessments be paid and collected in accordance with the methodology in the District’s Assessment Resolution and Mr. Plenzler said yes.

Dr. Levey opened the floor for public comment. There were no comments from the public or the Board, so Dr. Levey requested a motion to close the Public Hearing.

On Motion by Mr. Schademan, second by Ms. Salvo, with all in favor, the Board of Supervisors for the Poitras East Community Development District closed the Public Hearing.

Ms. Mackie summarized Resolution 2020-12, which would approve the Engineer’s Report and the Master Assessment Methodology Report and would equalize, approve, and confirm the levy of the Special Assessments at the maximum amount set forth in the methodology and provide for the method of payment and collection. Further, following Board action today, an assessment notice will be recorded in the public records of Orange County such that anyone purchasing property would be provided notice of the District’s ability to assess when reviewing the title associated with that purchase. Ms. Mackie requested a motion to adopt Resolution 2020-12 as presented.

On Motion by Mr. Schademan, second by Mr. Adams, with all in favor, the Board of Supervisors for the Poitras East Community Development District approved Resolution 2020-12, Levying Special Assessments.

SIXTH ORDER OF BUSINESS	Ratification of Payment Authorization Nos. 070 – 071

Dr. Levey noted these have been approved and paid and just need to be ratified by the Board.

On Motion by Mr. Adams, second by Mr. Schademan, with all in favor, the Board of Supervisors for the Poitras East Community Development District ratified Payment Authorization Nos. 070 – 071.

SEVENTH ORDER OF BUSINESS	Recommendation	of	Work Authorization/Proposed Services

Mr. Kaufmann noted that there are none for this District.

EIGHTH ORDER OF BUSINESS	Review of District’s Financial Position and Budget to Actual YTD

The Board reviewed the financials through June 30, 2020, the District has spent just under $65,000.00 vs. an overall budget of $182,500.00. No action is required by the Board.

NINTH ORDER OF BUSINESS	Discussion of Bond Anticipation Note

Dr. Levey stated the Board received an email today from Ms. Walden which is a term sheet for a Bond Anticipation note. He asked Mr. Wilder to discuss this and noted there is no action to be taken today and it will come back before the Board next month.

Mr. Wilder discussed the Bond Anticipation Note. On June 16, 2020, on behalf of the District, PFM did release a Request For Proposals to 14 financial institutions who expressed interest in wanting to provide this type of facility. The deadline was extended to July 9, 2020, and Synovus was the only institution that provided a term sheet that was consistent with the terms of the RFP, a draft of which is being presented to the Board for review. It is a revolving facility not to exceed $25,000,000.00, which would enable over the four year term of the facility for the District to draw down funds as needed, take those out with permanent financing and draw on those facilities to a maximum amount of $25,000,000.00. The interest rate in the term sheet is 4.25% and there are other provisions that looked like comments received from Bond Counsel and comments from Ms. Mackie which are being contemplated by the bank at this time.

Mr. Paris asked if Mr. Wilder solicited 14 banks and only one responded or if the District is waiting for other proposals to come back. Mr. Wilder stated the District only received one response from Synovus Bank with actual terms. Other banks responded indicating they were not able to provide something within the terms being requested or they suggested public financing alternatives that would require a different process.

There were no other questions or comments from the Board. Dr. Levey asked if Mr. Wilder anticipated this would be brought back to the Board at the next meeting. Mr. Wilder said yes if the bank responded favorably to the comments, which were clean up comments and clarifications that Ms. Mackie and Mr. Williams addressed. Synovus stressed they still have final credit approval, which would be completed in the next week and, subject to confirmation from Ms. Mackie, he expects there is sufficient time to bring back draft documents for the Board’s consideration at the August meeting. No action was required by the Board.

TENTH ORDER OF BUSINESS	Staff Reports

District Counsel –		Ms. Mackie explained the Executive Order that extended the Sunshine Law Waiver that allows the District to virtually attend the meeting today will expire, unless extended by the Governor by an additional Order, on Midnight on August 1, 2020. She anticipated that the order will be extended although it is likely that decision will not come until the end of the month. She expects the August meeting could be held virtually; however, in the event that a physical quorum will be required as a result of that waiver not being extended, District staff has secured the Marriott nearest Tavistock’s Offices for that meeting and in the event it were to proceed physically, District staff would be limited to the District Manager and only the Board would attend such that social distancing could occur. The remainder of staff and the public would be provided the option to attend virtually.

District Manager –	Ms. Walden requested the Board note on their calendars that the meeting is August 18, 2020, which is the third Tuesday of the month. The District will be holding that meeting to adopt the Budget for Fiscal Year 2021.

District Engineer –	Mr. Newton provided the Construction Status Memo (Exhibit A) and stated there is nothing substantial to report to this Board. The only update is the Developer indicated they would like to bid and construct Phase 1B themselves and since the District’s funding is not it place; it would be initially funded by the Developer. The Construction Committee cancelled the initial bid and the Developer will move forward with that segment of the roadway.

Construction Supervisor –  Mr. Kaufmann stated the Construction Committee is in design and permitting   for additional phases of Luminary Boulevard and Street A. All the first phase roadway is in design and permitting.

ELEVENTH ORDER OF BUSINESS	Supervisor and Audience Comments & Adjournment

There were no Supervisor requests or audience comments. Dr. Levey requested a motion to adjourn.

On Motion by Mr. Adams, second by Mr. Schademan, with all in favor, the July 21, 2020, meeting of the Board of Supervisors for the Poitras East Community Development District was adjourned.

Secretary/Assistant Secretary	Chair/Vice Chair

EXHIBIT A

MEMORANDUM

DONALD w. MCINTOSH

DATE:

July 21, 2020

ASSOCIATES,  INC.	TO:

FROM:

RE:

Poitras East Community Development District Board of Supervisors

Donald W. McIntosh Associates, Inc. District Engineer

Construction Contract Status

Dear Board Members,

Please accept this correspondence as a current summary of our construction contract status. Listed below by project is a brief summary ofrecent contract activity.

CIVIL ENGINEERS

LA N□ P LANN ERS

S URVEYORS

Infrastructure Phase lA - Jr. Davis Construction Company, Inc.
(note: this construction contract is between TDCP and JDC)

Construction Status: Contractor is currently installing potable water, sanitary sewer, reclaim water and drainage pipes.

Change Order (C.O.) Status: None

Recommended Motion: None

Infrastructure Phase lB - Jr. Davis Construction Compan y. Inc.

Construction Status: Permitting underway. Developer has requested to contract this work independently of the District. The District's invitation to bid has been cancelled.

Change Order (C.O.) Status: None

Recommended Motion: None

Miscellaneous

2200P ar k Ave. N or th

Winter Park. FL

32789-2355

Fax4 0 7 -64 4 -8 3 1 8

Design and permitting of the first segment of Street A and_the off-site Narcoossee Road force main extension are underway. Design_and permitting of Phase lC and lD are currently on hold pending resolution of environmental matters.

Should there be any questions, please do not hesitate to call. Thank you.
End of memorandum.
c:		Larry Kaufmann Matt McDermott Chris Wilson Dan Young Tarek Fahmy

407-6444068

F:\Proj20 I 7\17I7 0\ENGadmin\C\ec012 .docx
htt p:// www . d wm a .c om

Poitras East Community Development District

Resolution 2020-13, Approving an Annual Meeting Schedule for Fiscal Year 2021

RESOLUTION 2020-13

A RESOLUTION OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT DESIGNATING DATES, TIMES AND LOCATIONS FOR REGULAR MEETINGS OF THE BOARD OF SUPERVISORS OF THE DISTRICT AND PROVIDING FOR AN EFFECTIVE DATE.

WHEREAS, the POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT (“District”)
is  a local unit  of  special-purpose government  created and existing pursuant  to  Chapter  190,
Florida Statutes, being situated in City of Orlando, Florida; and

WHEREAS, the Board of Supervisors of the District (“Board”) is statutorily authorized to exercise the powers granted to the District; and

WHEREAS, all meetings of the Board shall be open to the public and governed by the provisions of Chapter 286, Florida Statutes; and

WHEREAS, the Board is statutorily required to file annually, with the local governing authority and the Florida Department of Economic Opportunity, a schedule of its regular meetings.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT:

Regular meetings of the District’s Board shall be held as provided on the schedule attached hereto as Exhibit A.

In accordance with Section 189.015(1), Florida Statutes, the District’s Secretary is hereby directed to file annually with Orange County a schedule of the District’s regular meetings.

This Resolution shall take effect immediately upon adoption.

Adopted this 18th day of August, 2020.

ATTEST:	POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairman

EXHIBIT A

Poitras East Community Development District Fiscal Year 2020-2021

The Board of Supervisors of the Poitras East Community Development District will hold its meetings for the Fiscal Year 2021 in the offices of Lake Nona Land Company located at 6900 Tavistock Lakes Blvd, Suite 200, Orlando, Florida 32827 at 4:00 p.m. on the third Tuesday of each month unless otherwise noted below.

October 20, 2020
November 10, 2020
December 15, 2020
January 19, 2021
February 16, 2021
March 16, 2021
April 20, 2021
May 18, 2021
June 15, 2021
July 20, 2021
August 17, 2021
September 21, 2021

Construction Committee of the Boggy Creek, Greeneway & Myrtle Creek Improvement Districts and the Poitras East Community Development District
Fiscal Year 2020-2021

The Construction Committee of the Boggy Creek, Greeneway and Myrtle Creek Improvement Districts and the Poitras East Community Development District will be meeting for the Fiscal Year 2021 in the office of Donald W. McIntosh Associates, Inc., 2200 Park Avenue North, Winter Park, FL 32789 at 3:30 p.m. every other week as follows:

October 8 & 22, 2020
November 5 & 19, 2020
December 3, 17 & 31, 2020
January 14 & 28, 2021
February 11 & 25, 2021
March 11 & 25, 2021
April 8 & 22, 2021
May 6 & 20, 2021
June 3 & 17, 2021
July 1, 15 & 29, 2021
August 12 & 26, 2021
September 9 & 23, 2021

Poitras East Community Development District

Materials on the District Website

MEMORANDUM
TO:	District Manager
FROM:	HGS Attorney
DATE:	July 1, 2020
RE:	Amendments to Section 189.069(2)(a), Florida Statutes

The Florida Legislature recently enacted amendments to the website requirements contained in Section 189.069(2)(a), Florida Statues, effective July 1, 2020. The full text of these amendments is attached to this memorandum as Exhibit A, and the amendments are summarized below:
The requirement to post the final, complete audit report for the most recent completed fiscal year and audit reports required by law or authorized by the governing body of the special district may be satisfied by providing a link to the audit report on the Auditor General’s website.
The public facilities report is no longer required to be posted.
Meeting materials accompanying meeting or workshop agendas are no longer required to be posted. Please note that the agenda itself is still required to be posted.
The amendments do not prevent districts from including these documents on their websites, but districts may remove them if they so choose. We recommend requesting board direction on a district-by-district basis.
Please do not hesitate to contact your HGS attorney at (850) 222-7500 if you have any questions or concerns.

CHAPTER 2020-77

Committee Substitute for Senate Bill No. 1466

An act relating to government accountability; amending s. 189.031, F.S.; specifying conditions under which board members and public employees of special districts do not abuse their public positions; amending s. 189.069, F.S.; revising the list of items required to be included on the websites of special districts; amending s. 190.007, F.S.; specifying conditions under which board members and public employees of community development districts do not abuse their public positions; providing effective dates.

Be It Enacted by the Legislature of the State of Florida:
Section 1. Effective January 1, 2021, subsection (6) is added to section 189.031, Florida Statutes, to read:
189.031 Legislative intent for the creation of independent special districts; special act prohibitions; model elements and other requirements; local general-purpose government/Governor and Cabinet creation author- izations.—
(6) GOVERNANCE.—For purposes of s. 8(h)(2), Art. II of the State Constitution, a board member or a public employee of a special district does not abuse his or her public position if the board member or public employee commits an act or omission that is authorized under s. 112.313(7), (12), (15), or (16) or s. 112.3143(3)(b), and an abuse of a board member’s position does not include any act or omission in connection with a vote when the board member has followed the procedures required by s. 112.3143.
Section 2. Paragraph (a) of subsection (2) of section 189.069, Florida Statutes, is amended to read:
189.069 Special districts; required reporting of information; web-based public access.—
(2)(a) A special district shall post the following information, at a minimum, on the district’s official website:
The full legal name of the special  district.
The public purpose of the special  district.
The name, official address, official e-mail address, and, if applicable, term and appointing authority for each member of the governing body of the special district.
The fiscal year of the special district.

The full text of the special district’s charter, the date of establishment, the establishing entity, and the statute or statutes under which the special district operates, if different from the statute or statutes under which the special district was established. Community development districts may reference chapter 190 as the uniform charter but must include information relating to any grant of special powers.
The mailing address, e-mail address, telephone number, and website uniform resource locator of the special district.
A description of the boundaries or service area of, and the services provided by, the special district.
A listing of all taxes, fees, assessments, or charges imposed and collected by the special district, including the rates or amounts for the fiscal year and the statutory authority for the levy of the tax, fee, assessment, or charge. For purposes of this subparagraph, charges do not include patient charges by a hospital or other health care provider.
The primary contact information for the special district for purposes of communication from the department.
A code of ethics adopted by the special district, if applicable, and a hyperlink to generally applicable ethics provisions.
The budget of the special district and any amendments thereto in accordance with s. 189.016.
The final, complete audit report for the most recent completed fiscal year and audit reports required by law or authorized by the governing body of the special district. If the special district has submitted its most recent final, complete audit report to the Auditor General, this requirement may be satisfied by providing a link to the audit report on the Auditor General’s website.
A listing of its regularly scheduled public meetings as required by s. 189.015(1).
The public facilities report, if applicable.
The link to the Department of Financial Services’ website as set forth in s. 218.32(1)(g).
15.16. At least 7 days before each meeting or workshop, the agenda of the event, along with any meeting materials available in an electronic format, excluding confidential and exempt information. The information must remain on the website for at least 1 year after the event.
Section 3.	Effective January 1, 2021, subsection (1) of section 190.007, Florida Statutes, is amended to read:

190.007	Board of supervisors; general duties.—
The board shall employ, and fix the compensation of, a district manager. The district manager shall have charge and supervision of the works of the district and shall be responsible for preserving and maintaining any improvement or facility constructed or erected pursuant to the provisions of this act, for maintaining and operating the  equipment  owned by the district, and for performing such other duties as may be prescribed by the board. It shall not be a conflict of interest under chapter 112 for a board member or the district manager or another employee of the district to be a stockholder, officer, or employee of a landowner or of an entity affiliated with a landowner. The district manager may hire or otherwise employ and terminate the employment of such other persons, including, without limitation, professional, supervisory, and clerical employees, as may be necessary and authorized by the board. The compensation and other conditions of employment of the officers and employees of the district shall be as provided by the board. For purposes of s. 8(h)(2), Art. II of the State Constitution, a board member or a public employee of a district does not abuse his or her public position if the board member or public employee commits an act or omission that is authorized under this subsection, s. 112.313(7), (12), (15), or (16), or s. 112.3143(3)(b), and an abuse of a board member’s public position does not include any act or omission in connection with a vote when the board member has followed the procedures required by s. 112.3143.
Section 4.	Except as otherwise expressly provided in this act, this act shall take effect July 1, 2020.
Approved by the Governor June 23, 2020.
Filed in Office Secretary of State June 23, 2020.

Poitras East Community Development District

Term Sheet with Synovus Bank

Government Banking Solutions

July 9, 2020

Brent Wilder, Managing Director PFM Financial Advisors, LLC wilderb@pfm.com

Hank Fishkind, Ph.D., Director PFM Financial Advisors, LLC fishkindh@pfm.com

Michael Dennis, Analyst
PFM Financial Advisors, LLC dennism@pfm.com

RE: Non-Bank Qualified Tax Exempt Bond Anticipation Note, Series 2020

Synovus Bank (“Synovus” or "Bank") is pleased to consider a financing arrangement (the “Facility”) for the Poitras East Community Development District (the “District”), the basic terms and conditions of which are set forth below. This financing proposal is not exhaustive, and the credit facility is subject to other terms and conditions normally required by Synovus for similar transactions. The proposed Facility is subject to the satisfactory completion of Synovus’s customary due diligence, underwriting and receipt of credit approval. This letter is not a commitment to lend.

Borrower:	Poitras East Community Development District (the “District”) Facility:	Non-Bank Qualified Tax Exempt Revolving Line of Credit (“Note”) Amount:	$ 25,000,000 (not to exceed)
Purpose:	The proceeds of the Note will be used to finance certain infrastructure of the District, fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance.

Term:	The term of the Bond Anticipation Draw Note shall be approximately 4 years from the date of closing.

Collateral:	The Note will be a Limited Obligation of the District. The principal and interest on the Series 2020 Note will be payable solely from and secured by i) the proceeds of debt service special assessments levied by the District against specially benefitting properties in the District (“Assessments”), ii) the proceeds from any debt issued by the District to refinance the proposed Note, and iii) the Debt Service Reserve Fund. Prior to closing, the District shall provide an Engineer’s Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank.

Repayment:	Semi-Annual interest payments on the 1st of each May and November, commencing on May 1, 2021. Principal due at maturity.

Interest Rate: The interest rate would be fixed at 4.25 percent.

Pre-payment:  The District may prepay and redeem the Note, in whole or part, at any time or from time to   time, without penalty or premium, by paying to the Bank all or a part of the principal amount of the Note to be repaid, together with the unpaid interest accrued on the amount of principal

so prepaid to the date of such prepayment. Each prepayment and redemption of such Note shall be made on such date and in such principal amount as shall be specified by the District in a written notice delivered to the Bank not less than ten days prior thereto specifying the principal amount to be prepaid and the date of such prepayment.

Fees:	Twenty-five basis point (.25%) Note Commitment Fee plus the District will pay a twenty- five basis point (.25%) Unused Fee on that portion of the commitment amount that has not been utilized. The Unused Fee will be paid semi-annually.
The District is responsible for all legal and out of pocket expenses associated with the proposed financing. The Bank will be represented by Greenspoon Marder Law, whose fee will be fixed at $12,500.

Affirmative
Covenants: For so long as any of the principal amount of or interest on the  proposed Note  is  outstanding or any duty or obligation of the District contemplated under the proposed Note remains unpaid or unperformed, the District covenants to the Bank as follows:
Payment – The District shall pay all debt service as defined in the Note at the time and place and in the manner provided in the Note.
Use of Proceeds - The proceeds of the Note will be used to finance certain infrastructure of the District, fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance. Prior to closing, the District shall provide both an Engineer’s Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank. Any subsequent material changes to the Assessment Methodology or the overall description of the project in the Engineer’s Report shall require written consent of Bank.
Notice of Defaults - The District shall within ten days after it acquires knowledge thereof, notify the Bank in writing at its Notice Address upon the happening, occurrence, or existence of any Event of Default, and any event or condition which with the passage of time or giving of notice, or both, would constitute an Event of Default, and shall provide the Bank with such written notice, a detailed statement by a responsible officer of the District of all the relevant facts and the action being taken or proposed to be taken by the District with respect thereto.
Records - The District agrees that any and all records of the District shall be open to inspection by the Bank or its representative’s during normal business hours at the offices of the District.
Maintain Existence - The District will take all reasonable legal action within its control in order to maintain its existence as a community development district of the State, and shall not voluntarily dissolve.
Notice of Liabilities - The District shall promptly inform the Bank in writing of any actual or potential contingent liabilities or pending or threatened litigation of any amount that could reasonably be expected to have a material and adverse effect upon the financial condition of the District or upon the ability of the District to perform its obligation under the proposed Note.
Insurance - The District shall maintain such liability, casualty and other insurance as is reasonable and prudent for similarly situated independent special districts of the State and shall upon request of the Bank, provide evidence of such coverage to the Bank.
Comply with Laws - The District is in compliance and shall comply with all applicable federal, state and local laws and regulatory requirements.
Taxes - In the event the proposed Note should be subject to the excise tax or any other Note Document should be subject to the excise tax on documents, or any similar tax, the District shall pay such taxes or reimburse the Bank for any such taxes paid by it.
Audited Financial Statements - The District will cause a financial audit to be completed of its books and accounts for each fiscal year, beginning with the fiscal year ending September 30, 2020, and shall furnish such financial audit to the Bank within

270 days of the end of each such fiscal year. The financial audit shall be prepared in accordance with Chapter 10.550 of the Rules of the Florida Auditor General or the provisions of any successor state or rule governing Florida local governmental entity audits.
Annual Budget. The District shall adopt an annual budget as required by law and shall provide the Bank with a copy of its annual budget for each fiscal year not later than 45 days after the commencement thereof. The budget shall specifically detail the Assessments and any other special assessments to be levied by the District with respect to such fiscal year.
Assessment Records. The District shall maintain records with respect to the Assessments which shall be updated as Assessments are collected. The records shall detail Assessments (i) levied to date on a parcel-by-parcel basis, and (ii) collected to date. An annual report setting forth the foregoing information will be provided to the Bank at such times, and in such format as the Bank may reasonably request. Upon the occurrence of any Event of Default, the Trustee will, upon request of the Bank, engage the services of a consultant acceptable to the Bank to make recommendations to the District to best cure the Event of Default.
Assessment Roll. Commencing with the tax roll adopted during calendar year 2020, the District shall provide to the Bank the certified assessment roll detailing the Assessments, if any, to be imposed for each tax year within 30 days of the date such roll becomes available.
Maintenance of Improvements. All Improvements are and will be owned by the District or another political subdivision of the  State of Florida  and all  Improvements  shall  be available for use by the general public on the same basis, subject only  to  conditions imposed by the District or another political subdivision of the State of Florida as may be necessary  to  protect  the  health  safety  and  general  welfare  of the District and its inhabitants, visitors, property owners and workers or to protect  such Improvements from damage, misuse, or destruction. The District shall observe and perform all of the terms and conditions contained in the Act, and shall comply with all valid acts, rules, regulations, orders and directions of any legislative, executive, administrative or judicial body applicable to the Improvements. The  District shall levy assessments as shall be  necessary to  provide for the  maintenance of the Improvements.

Negative
Covenants:	For so long as any of the principal amount of or interest on the proposed Note is outstanding or any duty or obligation of the District under the proposed Note remains unpaid or any obligation of the District under any of the Note Documents remain unpaid or unperformed, that:
No Amendments. The District shall not alter, amend or repeal the Assessment Resolutions, or take any action impairing the authority thereby or hereby given with respect to the imposition of the Assessments, or the payment of the Note, without prior written approval of the Bank which shall not be unreasonably withheld. However, the District may amend the Assessment Resolution to expand the Project Area so long as the total of the Assessments in the Project Area prior to the expansion are not reduced.
No Liens. The District shall not create or permit any pledge, assignment, mortgage or lien on the Assessments or the Improvements other than pursuant to the Note Documents.
Disposition of Assets. The District shall not dispose of any of the Improvements other than in the ordinary course of business.
Loans. The District shall not loan money or make advances or other extensions of credit to other persons or entities except in the normal course of the District’s Operations.

Assessments

Limited Obligation. The District promises that it will promptly pay the principal of and interest on the Note at the place, on the dates and in the manner provided therein according to the true intent and meaning hereof and thereof; provided that the principal of and interest on the Note is payable solely from the Assessments, and nothing in the

Note or in the Note Resolution shall be construed as pledging any other funds or assets of the District to such payment or authorizing such payment to be made from any other source. The District is not and shall not be liable for the payment of the principal of and interest on the Note or for the performance of any pledge, obligation or agreement for payment undertaken by the District hereunder from any property other than the Assessments. The Bank shall not have any right to resort to legal or equitable action to require or compel the District to levy and collect any tax or special assessment or to keep any tax or special assessment in force, except for the Assessments, to pay principal or interest on the Note.
Pledge of Assessments. The principal of and interest on the Note shall be payable from and secured by a lien upon the Assessments. The District will grant a security interest in favor of the Bank in the Assessments. Promptly upon collection by the District, all Assessments shall be deposited by the Trustee into an account (the "Revenue Account") maintained by the District at the Bank, in which account, and the proceeds therein, the District hereby grants the Bank a security interest in order to secure the repayment of the Note.
Levy of Assessments. The District will levy and assess Assessments upon the benefitted lands within the District in accordance with the Act and the Assessment Resolutions, in amounts and at the times, when combined with the amounts in the Revenue Account and subject to the limitations set forth in the Assessment Resolutions and in the Act, that are sufficient to pay the principal of and interest on the Note as herein provided. It is contemplated that the District shall utilize the uniform method for the collection of the Assessments authorized by Section 197.3632, Florida Statutes for platted lots. However, in the future, the District may, if it is not able to utilize the uniform method for platted lots, with written consent of the Bank, collect the assessments using an alternative method. The District will take all necessary steps to levy and collect Assessments Revenues sufficient to pay the principal and interest of the Note when due.
Use of Assessments. The District will use the proceeds of Assessments levied for debt service solely to pay principal of and interest on the Note, and Collection Costs.

Debt Service
Reserve Fund: The District shall direct the Trustee to maintain a Debt Service Reserve account at the Bank. The Debt Service Reserve account shall be maintained at 8 percent of the outstanding Note. The Debt Service Reserve will be funded at the time of each draw on the Note in the amount of 8 percent to satisfy the requirements for a 8 percent balance calculated on the basis of the outstanding balance on the Note. Amounts of deposit in the Debt Service Reserve account may be invested only in interest bearing accounts of the Bank. The Debt Service Reserve account shall be pledged as security for the Note and the District will grant the Bank a security interest in the Debt Service Reserve account and the amounts therein to secure the Note. For so long as the Note is outstanding, the District may not withdraw amounts from the Debt Reserve account. In the event that at any time the District fails to pay the principal of or interest on the Note as the same becomes due, the Bank may direct the Trustee to withdraw such amount from the Debt Service Reserve account as shall be necessary in order to pay the principal of and interest on the Note as the same becomes due. The Trustee shall notify the District in writing if any such withdrawal is made.

Events of
Default:	An "Event of Default" shall be deemed to have occurred under this Agreement if:
the District shall fail to make any payment of the principal of or interest on the Note after the same shall become due and payable (“Monetary Default”), whether by maturity, or otherwise; or
the District shall default in the performance of or compliance with any term or covenant contained in the Loan Documents, which default or noncompliance shall continue and not be cured within thirty (30) days after (i) notice thereof to the District by the Bank; or (ii) the Bank is notified of such noncompliance or should have been so notified, whichever is earlier. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days; or

any representation or warranty made in writing by or on behalf of the District in any Note Document shall prove to have been false or incorrect in any material respect on the date made or reaffirmed; or
the District admits in writing its inability to pay its debts generally as they become due or files a petition in bankruptcy or makes an assignment for the benefit of its creditors or consents to the appointment of a receiver or trustee for itself; or
the District is adjudged insolvent by a court of competent jurisdiction , or it is adjudged a bankrupt on a petition in bankruptcy filed by or against the District, or an order, judgment or decree is entered by any court of competent jurisdiction appointing, without the consent of the District, a receiver or trustee of the District or of the whole or any part of its property, and if the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within 90 days from the date of entry thereof; or
the District shall file a petition or answer seeking reorganization or any arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or the State of Florida; or
the District shall default in the due and punctual payment or performance of covenants under any obligation for the payment of money to the Bank or any other subsidiary or affiliate of the Bank; or
a judgment or order shall be rendered against the District for the payment of money in excess of $250,000 and such judgment or order shall continue unsatisfied or unstayed for a period of more than 30 days. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days.

Monetary Default
Rate:	The “default rate of interest” shall be the lesser of five percentage points over the Bank’s Prime Rate of interest or the maximum legal rate at the time of the Monetary Default. The default rate of interest shall only apply for interest during the period between when the Monetary Default (after noticed cure period), occurs and when it is cured by the District.

Interest Rate
Adjustments: In the event the interest on the Note becomes subject to federal income tax in any period, the interest rate will convert to the taxable rate during that period. The taxable rate will be calculated by dividing the current tax-exempt rate by 1 minus the effective federal tax rate. In addition, the District shall make the Bank whole for any interest, penalties, and additions to tax suffered by the Bank.

In the event the Maximum Federal Corporate Tax Rate imposed on corporations pursuant to Section 11(b) of the Internal Revenue Code of 1986, as amended, is changed, the interest rate on the Note will be adjusted to such rate as will provide the same tax equivalent yield to the Bank. The interest rate on the Note shall be adjusted to the product obtained by multiplying the interest rate then in effect on the Note by a fraction equal to (1-A divided by 1-B), where A equals the Maximum Corporate Tax Rate in effect as of the date of adjustment and B equals the Maximum Corporate Tax Rate in effect immediately prior to the date of adjustment.

Conditions of
Lending:	The obligations of the Bank to lend hereunder are subject to the following conditions precedent:
Documents are and shall be true and correct to the best of the District's knowledge at the time of closing.
On the closing date the District shall be in compliance with all the terms and provisions set forth in the Note Documents on its part to be observed or performed, and no Event of Default nor any event that, upon notice or lapse of time or both, would constitute such an Event of Default, shall have occurred and be continuing at such time.
On or prior to the closing date, the Bank shall have received the following supporting documents, all of which shall be satisfactory in form and substance to the Bank (such satisfaction to be evidenced by the purchase of the Note by the Bank): (i) the opinion of counsel to the District, regarding the due authorization, execution, delivery, validity and enforceability of the Agreement and the Note, the District's power to incur the debt

evidenced by the Note, the due adoption and enforceability of the Note Resolution and Assessment Resolutions and the due creation and existence of the District and to the effect that interest on the Note is excluded from gross income for federal income tax purposes and the Note is exempt from State excise tax on documents, and (ii) such additional supporting documents as the Bank may reasonably request.
No material and adverse changes shall have occurred in the financial condition of the District.
f) The Bank shall not be required to enter into the proposed Credit Accommodation until the completion of all due diligence inquiries (including but not limited to client providing a complete detailed budget of all planned improvements and Bank completing a satisfactory site visit and meeting with largest underlying land owner, Tavistock), receipt of approvals from all requisite parties and the execution and receipt of all necessary documentation reasonably acceptable to the Bank and its counsel. The Bank complies with the US Patriot Act of 2001 (the “Act”), including, but not limited to; those sections relating to customer identification, monitoring and reporting of suspicious activities, and the prevention of money laundering. This Act mandates that we verify certain information about the borrower and any guarantor while processing the Credit Accommodation request. Furthermore, certain assumptions are made for this proposal which, if altered, could affect the overall credit approval and or the terms of the proposed Credit Accommodation.

Waiver of
Jury Trial	District and Bank knowingly, intentionally, and voluntarily waive any right which any of them may have to a trial by jury in connection with any matter directly or indirectly relating to any Note document executed in connection herewith or any other matter arising from the relationship between Bank and District.

Synovus Bank appreciates the opportunity to submit this Proposal and looks forward to your favorable response. Please understand that this letter is not a formal commitment to extend a Note by the Lender, or any of its affiliates, but is merely intended for discussion purposes only in order to provide you with the basic terms and conditions of our proposal, which are outlined above. The terms and conditions outlined in this Proposal are in effect for 30 days from the date of this letter. If you have any questions or need additional information, please do not hesitate to contact me at (239) 552-1819.

Respectfully,

Jim Mitchell, SVP	LeeAnne Kirwin, VP
Director Government Solutions Group	Asst. Director Government Solutions Group Synovus Bank	Synovus Bank
2325 Vanderbilt Beach Road	2325 Vanderbilt Beach Road
Naples, FL 34109	Naples, FL 34109
(239) 552-1819	(239) 552-1879
jimmitchell@synovus.com	leeannkirwin@synovus.com

Agreed to and accepted this 	day of 	, 2020.

BORROWER: Poitras East Community Development District

Signature:	 Name:	 Title:  	

Poitras East Community Development District

Resolution 2020-14,
Authorizing the Issuance of and Awarding the Sale of Its Not Exceeding $25,000,000 Principal Amount of Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020

RESOLUTION NO. 2020-14

A RESOLUTION OF POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE ISSUANCE OF AND AWARDING THE SALE OF ITS NOT EXCEEDING $25,000,000 PRINCIPAL AMOUNT OF POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REVENUE BOND ANTICIPATION NOTE, SERIES 2020 TO SYNOVUS BANK, FOR THE PURPOSE OF FINANCING CERTAIN ASSESSABLE IMPROVEMENTS, APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION OF A FIRST SUPPLEMENTAL TRUST INDENTURE AND APPOINTING U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, BOND REGISTRAR AND PAYING AGENT THEREUNDER; APPROVING THE FORM OF SAID 2020 NOTE; AUTHORIZING CERTAIN OFFICIALS OF POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AND OTHERS TO TAKE ALL ACTIONS REQUIRED IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF SAID 2020 NOTE; PROVIDING CERTAIN OTHER DETAILS WITH RESPECT TO SAID 2020 NOTE; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, pursuant to City of Orlando Ordinance 2018-38 (the “Ordinance”) Poitras East Community Development District (the “District”) was established in the manner provided by law; and

WHEREAS, the District is authorized by the provisions of Chapter 190, Florida Statutes (the “Act”) and the Ordinance and subject to the limitations set forth in the Act and in the Ordinance, to issue its bonds and other evidence of indebtedness for the purpose, among other things, of constructing and/or acquiring assessable improvements including as set forth in Section 190.012, Florida Statutes; and

WHEREAS, the District is authorized by the Act to make payments of principal, interest, and premium, if any, with respect to such bonds and other evidence of indebtedness by levying and collecting non ad valorem special assessments; and

WHEREAS, the District pursuant to its Resolution No. 2020-05 adoption on May 19, 2020 authorized the issuance of its not exceeding $169 million special assessment revenue bonds for the purposes set forth in said Resolution and approved the form of a Master Trust Indenture between the District and U.S. Bank National Association as trustee (the “Master Indenture”); and

WHEREAS, the District now desires to authorize the issuance of and award the sale of its Special Assessment Revenue Bond Anticipation Note, Series 2020 in a principal amount not exceeding $25,000,000 (the "2020 Note"), to approve the Supplemental Indenture (hereinafter defined) and to provide for various other matters relating to the issuance of the 2020 Note; and

WHEREAS, the Board of Supervisors of the District (the "Board") has received from Synovus Bank (the "Purchaser") a proposal, pursuant to a request for proposal process, attached hereto, to provide funds to the District to acquire and construct certain of the "assessable improvements" (the "2020 Project") described in the Engineer's Report and Capital Improvement Program dated May 19, 2020 prepared by Donald W. McIntosh Associates, Inc., which report has been approved by this Board, to fund a debt service reserve, to capitalize interest and to pay costs of issuing the 2020 Note for the purchase of the 2020 Note and the Board has determined that acceptance of such proposal and the sale of the 2020 Note to the Purchaser is in the best interest of the District for the reasons hereafter indicated.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT, as follows:

SECTION 1. Definitions. All words and phrases used herein in capitalized form, unless otherwise defined herein, shall have the meaning ascribed to them in the Indenture (hereinafter defined).

SECTION 2. Authorization. There is hereby authorized to be issued the 2020 Note in the principal amount not exceeding $25,000,000. The 2020 Note shall bear an interest rate of 4.25% per annum, subject to adjustment as provided in the Purchaser's proposal attached hereto, shall mature not more than 4 years from its dated date, shall allow advances as provided in the Supplemental Indenture and shall have such other provisions as set forth in the proposal attached hereto and the Supplemental Indenture (as defined below). The 2020 Note shall be issued under and secured by the Master Indenture as supplemented by that First Supplemental Trust Indenture dated as of August 1, 2020 and between the District and the U.S. Bank National Association (the “Trustee”) (the "Supplemental Indenture"), collectively within the Master Indenture, the "Indenture"). The proceeds of the 2020 Note shall be used for the purposes set forth in the Supplemental Indenture.

SECTION 3. Approval of Supplemental Indenture. The Supplemental Indenture is hereby approved in substantially the form attached hereto and the Chairman or the Vice Chairman of the Board is hereby authorized and directed to execute and deliver such Supplemental Indenture on behalf of and in the name of the District and the Secretary or any Assistant Secretary of the Board is hereby authorized to attest such execution, with such additions and deletions therein as may be made and approved by the Chairman or the Vice Chairman executing the same, such execution to be conclusive evidence of such approval. The Trustee is hereby approved to serve as Trustee, Bond Registrar and Paying Agent under such Supplemental Indenture.

SECTION 4. Negotiated Sale; Acceptance of Term Sheet. Based on the advice of the District's financial advisor, PFM Financial Advisors LLC ("PFM") and due to the present volatility of the market for municipal debt, it is in the best interest of the District to issue the 2020 Note by negotiated sale, allowing the District to issue the 2020 Note at the most advantageous time, rather than a specified advertised future date, thereby allowing the District to obtain the best possible price, interest rate and other terms for the 2020 Note, and accordingly, the Board finds and determines that it is in the best financial interest of the District that a negotiated sale of the 2020 Note to the Purchaser be authorized. The Purchaser's proposal

attached hereto is hereby accepted. Execution of such proposal shall not obligate the District to close and issue the 2020 Note.

SECTION 5. Form of 2020 Note. The 2020 Note shall be in substantially the form as  set forth in the exhibit to the Supplemental Indenture, with such additions, deletions and other changes thereto as the officials of the Board executing the 2020 Note shall approve, such approval to be conclusively evidenced by the execution of the 2020 Note (by manual or facsimile signature) by such officials.

SECTION 6. Open Meetings. It is hereby found and determined that all official acts of this Board concerning and relating to the issuance, sale, and delivery of the 2020 Note, including but not limited to adoption of this Resolution, were taken in open meetings of the members of the Board and all deliberations of the members of the Board that resulted in such official acts were in meetings open to the public, in compliance with all legal requirements including, but not limited to, the requirement of Florida Statutes, Section 286.011 and all applicable Executive Orders of the Governor of the State of Florida.

SECTION 7. Other Actions. The Chairman, the Vice Chairman, the Secretary and any Assistant Secretary of the District, and any authorized designee thereof (collectively, the "District Officers"), Akerman LLP, as Bond Counsel and Hopping Green & Sams, P.A., Counsel to the District, and any other consultant or experts retained by the District, and PFM Group Consulting LLC, as District Manager and Donald W. McIntosh and Associates, Inc., as District Engineer and PFM as financial advisor and assessment consultant are hereby authorized and directed to take all actions necessary or desirable in connection with the issuance and delivery of the 2020 Note and the consummation of all transactions in connection therewith. The District Officers are hereby authorized and directed to execute all necessary or desirable certificates, documents, papers, and agreements to complete the undertaking and fulfillment of all transactions referred to in or contemplated by the Indenture and this Resolution.

SECTION 8. Approval of Prior Actions. All actions taken to date by the members of the Board and the officers, agents, and employees of the District in furtherance of the issuance of the 2020 Note are hereby approved, confirmed and ratified.

SECTION 9. Inconsistent Resolutions and Motions. All prior resolutions of  the  Board inconsistent with the provisions of this Resolution are hereby modified, supplemented and amended to conform with the provisions herein contained and, except as so modified, supplemented and amended hereby, shall remain in full force and effect.

SECTION 10. Severability. If any section, paragraph, clause or provision of this Resolution shall be held to be invalid or ineffective for any reason, the remainder of this Resolution shall continue in full force and effect, it being expressly hereby found and declared that the remainder of this Resolution would have been adopted despite the invalidity or ineffectiveness of such section, paragraph, clause or provision, but only if the remainder still gives effect to the purpose of this Resolution.

SECTION 11.  Effective Date.	This Resolution shall become effective immediately upon its adoption.

ADOPTED this 18th day of August, 2020.
POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

[SEAL]

Attest:

By:		 Chairman

By:		 Secretary

Poitras East Community Development District

First Supplemental Trust Indenture

FIRST SUPPLEMENTAL TRUST INDENTURE BETWEEN
POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AND
U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE

Dated as of August 1, 2020 securing
Not to Exceed $25,000,000
Poitras East Community Development District Special Assessment Revenue
Bond Anticipation Note, Series 2020

TABLE OF CONTENTS

This Table of Contents is incorporated herein for ease of reference only and shall not be deemed a part of the First Supplemental Trust Indenture.
ARTICLE I	DEFINITIONS	3
Section 101	Definitions	3
ARTICLE II	AUTHORIZATION, ISSUANCE AND PROVISIONS OF THE
2020 NOTE	6
Section 201	Authorization of the 2020 Note	6
Section 202	Terms of 2020 Note	6
Section 203	Dating; Interest Accrual; Interest Rate Adjustments; Draw
Requests	6
Section 204	Denomination	8
Section 205	Paying Agent	8
Section 206	Bond Registrar	8
Section 207	Conditions Precedent to Issuance of 2020 Note	8
Section 208	Special Covenant of the District	10
Section 209	Transfer Restrictions	10
ARTICLE III	REDEMPTION OF 2020 NOTE	10
Section 301	2020 Note Subject to Redemption	10
ARTICLE IV	DEPOSIT OF 2020 NOTE PROCEEDS AND APPLICATION THEREOF; ESTABLISHMENT OF ACCOUNTS AND
OPERATION THEREOF	10
Section 401	Establishment of Accounts	10
Section 402	Use of 2020 Note Proceeds	11
Section 403	2020 Note Acquisition and Construction Account	12
Section 404	2020 Note Costs of Issuance Account	12
Section 405	2020 Note Reserve Account	12
Section 406	Tax Covenants and Rebate Accounts	12
ARTICLE V	COVENANTS AND DESIGNATIONS OF THE DISTRICT	12
Section 501	Provision Relating to Bankruptcy or Insolvency of Landowner	12
Section 502	Collection of Note Assessments	14
Section 503	Covenant With Regard to Enforcement and Collection of
Delinquent Assessments	14

ARTICLE VI	COVENANTS OF THE DISTRICT	14
Section 601	Affirmative Covenants of the District	14
Section 602	Negative Covenants of the District	17
ARTICLE VII	EVENTS OF DEFAULT	18
Section 701	Events of Default	18
ARTICLE VIII	MISCELLANEOUS PROVISIONS	19
Section 801	Foreclosure of Assessment Lien	19
Section 802	Interpretation of First Supplemental Indenture	19
Section 803	Amendments	19
Section 804	Counterparts	19
Section 805	Appendices and Exhibits	19
Section 806	Payment Dates	20
Section 807	No Rights Conferred on Others	20
Section 808	Use of 2020 Note Acquisition and Construction Account Moneys
and Other Trust Funds	20
Section 809	Bond Year	20
Section 810	Waiver of Jury Trial	20
Section 811	Notices	20
ARTICLE IX	THE TRUSTEE; THE PAYING AGENT AND BOND
REGISTRAR	21
Section 901	Acceptance of Trust	21
Section 902	Trustee's Duties	21
Section 903	Brokerage Confirmations	21

Exhibit "A" Description of 2020 Project Exhibit "B" Form of 2020 Note
Exhibit "C" Form of Draw Request

ii

FIRST SUPPLEMENTAL TRUST INDENTURE

THIS FIRST SUPPLEMENTAL TRUST INDENTURE (the "First Supplemental Indenture") dated as of August 1, 2020, between POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT, (the "District") and U.S. BANK NATIONAL ASSOCIATION,
trustee (the "Trustee"), a national banking association authorized to accept and execute trusts of the character herein set out within the State of Florida.

WHEREAS, the District has entered into a Master Trust Indenture dated as of August 1, 2020 (the "Master Indenture") (herein together with this First Supplemental Trust Indenture, collectively referred to as the "Indenture") with the Trustee to among other matters secure the issuance of its Poitras East Community Development District Special Assessment Revenue Bonds (the "Bonds"), and any bond anticipation notes issued in anticipation of the issuance of any Series of Bonds, issuable in one or more Series from time to time; and

WHEREAS, the Board of the District duly adopted resolutions providing for the acquisition and construction of a capital improvement plan (“Capital Improvement Plan”) for the lands within the District and more fully described in the Engineer's Report and Capital Program dated May 19, 2020 which describes assessable improvements to be financed with Bonds, certain proceeds of the 2020 Note (as defined below) and other sources as provided therein; and

WHEREAS, the portion of such Capital Improvement Program to be financed with certain proceeds of the 2020 Note is described in Exhibit "A" hereto (the "2020 Project"); and

WHEREAS, the Board of the District has adopted resolutions and taken certain action with regard to the imposition, levy and collection of special assessments on lands specially benefitted by the 2020 Project; and

WHEREAS, pursuant to Resolution 2020-05 adopted by the Board of the District on May 19, 2020 (the "Bond Resolution"), the District has authorized the issuance of not exceeding
$169,000,000 of its Bonds, to be issued in one or more Series of Bonds as authorized under the Master Indenture; and

WHEREAS, the District intends to issue a series of Bonds in the future to refinance the 2020 Note (the "2020 Bonds"); and

WHEREAS, in anticipation of the issuance of the 2020 Bonds and in order to provide interim funds to the District to finance the 2020 Project, the Board of the District has determined to issue its not to exceed $25,000,000 Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020 (the "2020 Note") under and pursuant to the Master Indenture and this First Supplemental Indenture and to secure the 2020 Note and set forth the terms of the 2020 Note as hereinafter provided; and

WHEREAS, the District will apply the proceeds of the 2020 Note to: (i) finance the Cost of the acquisition, construction, installation and equipping of the 2020 Project; (ii) pay certain costs associated with the issuance of the 2020 Note including the Unused Fee as defined herein;
fund capitalized interest on the 2020 Note; and pay the Unused Fee as defined herein; (iv) fund the 2020 Note Reserve Account; and

WHEREAS, the Bonds including the 2020 Bonds in anticipation of which the 2020 Note is being issued, have been validated by the Circuit Court of the Ninth Judicial Circuit in and for Orange County, Florida in a final judgment rendered on August 10, 2020, and prior to the issuance of 2020 Bonds, the appeal period from such final judgment will have expired with no appeal being taken or such final judgement will have otherwise been affirmed; and

WHEREAS, the execution and delivery of the 2020 Note and of this First Supplemental Trust Indenture have been duly authorized by the Board of the District and all things necessary to make the 2020 Note, when executed by the District and authenticated by the Trustee, a valid and binding legal obligation of the District and to make this First Supplemental Indenture a valid and binding agreement and, together with the Master Indenture, a valid and binding lien on the Note Trust Estate (as hereinafter defined) have been done.

NOW THEREFORE, KNOW ALL MEN BY THESE PRESENTS, THIS FIRST SUPPLEMENTAL TRUST INDENTURE WITNESSETH:

That the District, in consideration of the premises, the acceptance by the Trustee of the trusts hereby created, the mutual covenants herein contained, the purchase and acceptance of the 2020 Note by the purchaser or purchasers thereof, and other good and valuable consideration, receipt of which is hereby acknowledged, and in order to further secure the payment of the principal and Redemption Price (as defined in the Master Indenture) of, and interest on, any portion of the 2020 Note Outstanding (as defined in the Master Indenture) from time to time, according to its tenor and effect, and such other payments required to be made under the Master Indenture or hereunder, and to further secure the observance and performance by the District of all the covenants, expressed or implied in the Master Indenture, in this First Supplemental Indenture and in the 2020 Note: (a) has executed and delivered this First Supplemental Indenture and (b) does hereby, in confirmation of the Master Indenture, grant, bargain, sell, convey, transfer, assign and pledge unto the Trustee, and unto its successors in interest the trusts under the Master Indenture, and to them and their successors and assigns forever, all right, title and interest of the District, in, to and under, subject to the terms and conditions of the Master Indenture and the provisions of the Master Indenture and this First Supplemental Indenture pertaining to the application thereof for or to the purposes and on the terms set forth in the Master Indenture and this First Supplemental Indenture; proceeds of the 2020 Bonds, when, as and if issued, and the revenues received by the District from Note Assessments (as defined herein) levied and collected as needed to pay debt service on the 2020 Note (together, the "Note Pledged Revenues") and the Funds and Accounts (except for the 2020 Note Rebate Account and the 2020 Note Costs of Issuance Account) established hereby (the "Note Pledged Funds") which shall comprise the trust estate securing the 2020 Note (the "Note Trust Estate");

TO HAVE AND TO HOLD all the same by the Master Indenture and hereby granted, bargained, sold, conveyed, transferred, assigned and pledged, or agreed or intended so to be, to the Trustee and its successors in trust and to it and its assigns forever;

PROVIDED HOWEVER, that if the District, its successors or assigns, shall well and duly pay, or cause to be paid, or make due provision for the payment of the principal and Redemption Price of the 2020 Note secured and Outstanding under this First Supplemental Indenture and the interest due or to become due thereon, at the times and in the manner mentioned

in the 2020 Note and this First Supplemental Indenture, according to the true intent and meaning thereof, and shall well and truly keep, perform and observe all the covenants and conditions pursuant to the terms of the Master Indenture and this First Supplemental Indenture to be kept, performed and observed by it, and shall pay or cause to be paid to the Trustee all sums of money due or to become due to it in accordance with the terms and provisions of the Master Indenture and this First Supplemental Indenture, then upon such final payments, this First Supplemental Indenture and the rights hereby granted shall cease and terminate, with respect to the 2020 Note, otherwise this First Supplemental Indenture shall remain in full force and effect;

THIS FIRST SUPPLEMENTAL INDENTURE FURTHER WITNESSETH, and it is
expressly declared, that the 2020 Note issued and secured hereunder is to be issued, authenticated and delivered and all of the rights and property pledged to the payment thereof are to be dealt with and disposed of under, upon and subject to the terms, conditions, stipulations, covenants, agreements, trusts, uses and purposes as in the Master Indenture (except as amended directly or by implication by this First Supplemental Indenture), including this First Supplemental Indenture, expressed, and the District has agreed and covenanted, and does hereby agree and covenant, with the Trustee and with the respective Owners, from time to time, of the 2020 Note, as follows:

ARTICLE I DEFINITIONS

Section 101 Definitions. All terms used herein that are defined in the recitals hereto are used with the same meaning herein unless the context clearly requires otherwise. All terms used herein that are defined in the Master Indenture are used with the same meaning herein (including the use of such terms in the recitals hereto and the granting clauses hereof) unless (i) expressly given a different meaning herein or (ii) the context clearly requires otherwise. In addition, unless the context clearly requires otherwise, the following terms used herein shall have the following meanings:

"Adjustment Event" shall mean a Determination of Taxability, a Monetary Default or a Corporate Tax Rate Change.

"Assessment Proceedings" shall mean the proceedings of the District with respect to the establishment, levy and collection of the Note Assessments.

"Assessment Report" shall mean the Master Assessment Methodology Report for the Poitras East Community Development District, dated May 18, 2020, as supplemented by the [Supplemental Assessment Methodology Report for the Poitras East Community Development District's Bond Anticipation Note, Series 2020], dated August , 2020.

"Authorized Denomination" shall mean, with respect to the 2020 Note, the then Outstanding principal amount of the 2020 Note.

"Bank" or "Owner" shall mean Synovus Bank and its successors and assigns.

"BAN Resolution" shall mean Resolution No. 	- adopted by the Board of the District on August 18, 2020, authorizing the issuance of the 2020 Note.

"Commitment Fee" shall mean the loan commitment fee in the amount of $62,500.00 payable to the Bank on the date of delivery of the 2020 Note.

"Corporate Tax Rate Change" shall mean a change in the maximum federal corporate tax rate imposed on corporations pursuant to Section 11(b) of the Code, from the current rate of twenty-one percent (21%).

"Default Rate" shall mean the lesser of (a) 500 basis points over the Prime Rate or (b) the maximum rate permitted by law, at the time of Monetary Default and shall be the interest rate borne by the 2020 Note upon a Monetary Default. Upon waiver or cure of the Monetary Default the interest rate borne by the 2020 Note accrues at the interest rate in effect prior to the Monetary Default.

"Determination of Taxability" shall mean a final decree or judgment of any federal court or a final action of the Internal Revenue Service determining that interest paid or payable on the 2020 Note is or was includable in the gross income of an Owner for federal income tax purposes; provided, no Determination of Taxability shall be deemed to occur unless the District has been given written notice of such occurrence and, to the extent permitted by law, an opportunity to participate in and seek, at the District's expense, a final administrative determination by the Internal Revenue Service or determination by a court of competent jurisdiction (from which no further right of appeal exits) as to occurrence of such Determination of Taxability.

"Draw" shall have the meaning assigned thereto pursuant to Section 203 hereof.

"Draw Request" shall have the meaning assigned thereto pursuant to Section 203 hereof.

"Engineer's Report" shall mean the Engineer's Report and Capital Improvement Program dated May 19, 2020 prepared by Donald W. McIntosh Associates, Inc.

"Indenture" shall mean the Master Indenture as supplemented by this First Supplemental Indenture.

"Interest Payment Date" shall mean each May 1 and November 1, commencing May 1, 2021 or any date on which all or a portion of the 2020 Note is redeemed and the Maturity Date.

"Maturity Date" shall mean 	.

"Monetary Default" shall mean the failure by the District to make any payment of the principal of or interest on the 2020 Note after the same shall become due and payable, whether at maturity, or otherwise.

"2020 Bond Assessments" shall mean the debt service special assessments levied by the District to pay debt service on the 2020 Bonds.

"2020 Bonds" shall mean a Series of Bonds or other obligations of the District issued for the purpose of refinancing all or a portion of the 2020 Note.

"2020 Note Reserve Account Requirement" shall mean, as calculated from time to time, and as of any date of calculation, an amount equal to eight percent (8%) of the aggregate principal amount of the 2020 Note Outstanding.

"2020 Project" shall mean the “assessable improvements” described in Exhibit "A".

"Note Assessment Interest" shall mean the balance of the Note Assessments remaining after deducting from the Note Assessment Revenues the Note Assessment Principal.

"Note Assessment Principal" shall mean the principal amount of the Note Assessments received by the District which represent a proportionate amount of the principal of the 2020 Note.

"Note Assessment Revenues" shall mean the revenues received by the District from the levy and collection of the Note Assessments. Note Assessment Revenues do not include revenues received by the District from the levy and collection of 2020 Bond Assessments.

"Note Assessments" shall mean the debt service special assessments levied and collected by the District as needed to pay debt service on the 2020 Note. Note Assessments do not include 2020 Bond Assessments.

"Note Pledged Funds" shall mean the Funds and Accounts (except for the 2020 Note Rebate Account and the 2020 Note Costs of Issuance Account) established and held under this First Supplemental Indenture.

"Note Pledged Revenues" shall mean (a) net proceeds of the 2020 Bonds, when, as and if issued, and (b) Note Assessment Revenues.

"Note Trust Estate" shall mean the Note Pledged Revenues and the Note Pledged Funds.

"Notice Address" shall mean, with respect to the Bank: Synovus Bank.; 1148 Broadway, Columbus, GA 31901, Attention: Loan Operations with a copy to Synovus Bank, 2325 Vanderbilt Beach Road, Naples, FL 34109, Attention: Government Banking Solutions and with respect to the Trustee: U.S. Bank National Association, 225 E. Robinson Street, Suite 250, Orlando, FL 32801 and with respect to the District c/o District Manager, 12051 Corporate Blvd., Orlando, FL 32817.

"Prime Rate" shall mean the rate published from time to time in The Wall Street Journal as the "U.S. Prime Rate" or, in the event The Wall Street Journal ceases to be published, goes on strike, or is otherwise not published or ceases publication of "Prime Rate," the base reference or other rate then designated by the Bank, in its sole discretion, for general commercial loan reference. The Prime Rate is not necessarily the lowest or best rate of interest offered by the Bank to any borrower or class of borrower.

"Taxable Rate" shall mean the interest rate to be borne by the 2020 Note as determined pursuant to Section 203 hereof.

"Tax-Exempt Rate" shall mean 4.25% per annum, which shall be the interest rate borne by amounts advanced under the 2020 Note absent an Adjustment Event.

“Unused Fee” shall mean the fee retained by the Bank on the amount of the 2020 Note which is undisbursed and uncanceled as described in Section 203 hereof.

All words and terms importing the singular number shall, where the context requires, import the plural number and vice versa.

ARTICLE II
AUTHORIZATION, ISSUANCE AND PROVISIONS OF THE 2020 NOTE

Section 201 Authorization of the 2020 Note. The 2020 Note is hereby authorized to be issued for the purposes enumerated in the recitals hereto to be designated "Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020". The 2020 Note will be issued as a draw-down revolving note as provided in Section 203 hereof. On the date of delivery of the 2020 Note the Outstanding principal amount of the 2020 Note shall be
$ 	. The total aggregate principal amount that may be Outstanding at any one time under the 2020 Note is expressly limited to $25,000,000. The District may borrow, repay and reborrow on the 2020 Note and the Bank may advance and readvance in accordance with the provision hereof under the 2020 Note. The 2020 Note shall be substantially in the form set forth as Exhibit "B" to this First Supplemental Indenture. The 2020 Note shall bear the designation "BAN2020-R- 1."

The Bank will fund Draws on the 2020 Note from time to time pursuant to the Draw procedures provided in Section 203 below.

The provisions of the Master Indenture with respect to the registration, transfer and exchange of Bonds shall apply to the 2020 Note. Notwithstanding the provisions of the Master Indenture to the contrary, so long as the Bank is the Owner of the 2020 Note, presentation of the 2020 Note to the Paying Agent shall not be required for the payment of principal, whether at maturity or upon redemption prior to maturity.

Section 202 Terms of 2020 Note. The 2020 Note shall be issued as a single note in a principal amount not to exceed $25,000,000; shall bear interest at the Tax-Exempt Rate, subject to an Adjustment Event as provided herein; and shall mature on the Maturity Date.

Section 203 Dating; Interest Accrual; Interest Rate Adjustments; Draw Requests. The 2020 Note shall be dated the date of delivery thereof. The 2020 Note shall also bear its date of authentication. The 2020 Note shall bear interest from the date of each advance and shall be due and payable on each Interest Payment Date, and the Maturity Date or earlier redemption date and shall be computed on the basis of a 360-day year of twelve 30-day months.

In addition to interest, the Bank shall receive on each Interest Payment Date as provided below the Unused Fee, in arrears, at the rate of 25 basis points (0.25%) per annum on the average daily amount of the 2020 Note which is undisbursed and uncanceled since the prior Interest Payment Date. The Unused Fee shall also be computed on the basis of a 360 day of twelve 30-day months. No portion of the Unused Fee shall accrue after the Maturity Date or earlier termination of the 2020 Note.

The Tax-Exempt Rate is subject to adjustment as provided below:

If there is a Determination of Taxability not caused by the action of the Owner, the 2020 Note shall bear interest from the earliest effective date of such Determination of Taxability at a rate per annum, equal to the Taxable Rate in the manner determined below.

The Taxable Rate shall be determined pursuant to the following paragraph:

Upon the occurrence of a Determination of Taxability, the interest rate on the 2020 Note shall be adjusted to a rate equal to the interest rate otherwise borne by the 2020 Note thereby divided by (1 minus the then maximum federal corporate income tax rate applicable to the Bank) (the "Taxable Rate") calculated on the basis of a 360-day year of twelve 30-day months, as of and from the date of such Determination of Taxability (the "Accrual Date"); and (i) the District shall on the next Interest Payment Date (or if the 2020 Note shall have matured, within thirty (30) days after demand by the Bank) pay to the Bank an amount equal to the sum of (1) the difference between (A) the total interest that would have accrued on the 2020 Note at the Taxable Rate from the Accrual Date to such Interest Payment Date (or payment date following such demand), and (B) the actual interest paid by the District on the 2020 Note from the Accrual Date to such Interest Payment Date (or payment date following such demand), and (2) any interest and penalties required to be paid as a result of any such Determination of Taxability; and (ii) from and after the Determination of Taxability, the 2020 Note shall continue to bear interest at the Taxable Rate for the period such determination continues to be applicable with respect to the 2020 Note. The adjustment shall survive payment of the 2020 Note until such time as the federal statute of limitations under which the interest on the 2020 Note could be declared taxable under the Code shall have expired.

Upon the occurrence and continuance of a Monetary Default the 2020 Note shall bear interest at the Default Rate.

Upon the occurrence of a Corporate Tax Rate Change, the interest rate on the 2020 Note shall be changed to the rate equal to the product obtained by multiplying the interest rate then in effect on the 2020 Note by a fraction equal to (1-A divided by 1-B), where A equals the maximum corporate tax rate in effect as of the date of adjustment and B equals the maximum corporate tax rate in effect immediately prior to the date of the adjustment; provided, however, that this rate shall in no event be lower than 3.75%.

The Owner shall advise the Trustee and the District in writing within a reasonable time in good faith what amounts, if any, are owing as a result of a Determination of Taxability or any other Adjustment Event as described herein and the Trustee may conclusively rely upon such information without the duty to verify such information. In no event, however, shall the interest rate on the 2020 Note exceed the maximum rate permitted by law and the District shall not be required to seek an interest rate waiver from the State Board of Administration. The Trustee may conclusively rely upon the information from the Bank as to the applicable interest rate and have no obligation to verify such rate or rates. As calculated by the Bank the applicable interest rate shall be binding on the District absent error.

Draws. The principal of the 2020 Note shall be advanced by the Bank to the District pursuant to multiple draws (each a "Draw") provided the outstanding principal of the 2020

Note shall never exceed Twenty-Five Million Dollars ($25,000,000), under the following terms and conditions:

(a) Draws on the 2020 Note to be deposited to the 2020 Interest Account to pay interest due on the 2020 Note and to make required deposits to the 2020 Note Reserve Account, shall be deposited with the Trustee in such accounts by the Bank and (b) draws on the 2020 Note to pay the Unused Fee shall be retained by the Bank, each without the need for a Draw Request; provided, however, that the Bank will need to provide the Trustee with prior written notice of the proposed deposit and the amount of the Unused Fee so retained and with such other information as the Trustee may request to be able to identify the proposed deposit and the account into which such funds shall be deposited and the Unused Fee so retained. The Bank shall make the deposits under this section at least three days prior to each Interest Payment Date. The Bank shall provide the District and the Trustee written confirmation of the amounts of such advances so deposited and retained within three days of a deposit and/or retention of the Unused Fee.

Any Draws not deposited as provided in (i) above must be requested by the District (a "Draw Request") in writing executed by a Responsible Officer of the District delivered to the Bank and the Trustee on a Business Day not less than ten (10) calendar days one ((1) calendar day in the case of the initial Draw) prior to such Draw substantially in the form attached hereto as Exhibit "C"; and

no Draw Request shall be honored after 	, 202 and no advances to the 2020 Interest Account and the 2020 Note Reserve Account will be accepted after 		, 202 , or during the existence of an Event of Default with respect to the 2020 Note unless both the District and the Bank have mutually agreed in writing and notified the Trustee in writing of such agreement.

Section 204	Reserved.

Section 205 Paying Agent. The District appoints the Trustee as Paying Agent for the 2020 Note.

Section 206 Bond Registrar. The  District  appoints the Trustee as Bond Registrar for the 2020 Note.

Section 207 Conditions Precedent to Issuance of 2020 Note and Initial Draw. In addition to complying with the requirements set forth in the Master Indenture in connection with the issuance of the 2020 Note, the 2020 Note shall be executed by the District for delivery to the Trustee and thereupon shall be authenticated by the Trustee and delivered by the Trustee to the Bank upon its order, but only upon the further receipt by the Trustee of:

Certified copies of the BAN Resolution, the Bond Resolution, and the Assessment Proceedings;

Executed copies of the Master Indenture and this First Supplemental
Indenture;

A Bond Counsel opinion addressed to the District, the Trustee and the Bank substantially to the effect that: (i) the Indenture has been duly authorized, executed and delivered by the District and constitutes a valid and binding obligation of the District; (ii) the 2020 Note has been duly authorized, executed and delivered by the District and is a valid and binding special obligations of the District, payable solely from the sources provided therefor in the Indenture; (iii) that the interest on the 2020 Note is excludable from gross income for federal income tax purposes and (iv) that validation of the 2020 Note is not required;

An opinion of Counsel to the District addressed to the District, the Trustee and the Bank substantially to the effect that (i) the District has been duly established and validly exists as a special district under the Act, (ii) based on certificates of the District Engineer, the District has good right and lawful authority under the Act to undertake the 2020 Project being financed with the proceeds of the 2020 Note, subject to obtaining such licenses, orders or other authorizations as are, at the date of such opinion, required to be obtained from any agency or regulatory body having lawful jurisdiction in order to undertake the 2020 Project, (iii) all proceedings undertaken by the District with respect to the Note Assessments have been in accordance with Florida law (iv) the District has taken all action necessary to levy and impose the Note Assessments, (v) the Note Assessments are legal, valid and binding liens upon the property against which such Note Assessments are made, coequal with the lien of all state, county, district and municipal taxes, superior in dignity to all other liens, titles and claims, until paid, (vi) the execution, delivery and performance of the 2020 Note and the Indenture, and compliance with the terms thereof, under the circumstances contemplated hereby, do not and will not in any material respect conflict with any existing law, administrative rule or regulation, judgment, court order or consent decree to which the District or its properties are subject, (vii) there is no claim, action, suit, proceeding, inquiry, investigation, litigation or other proceeding, at law or in equity, pending or, to the best of such counsel’s knowledge, threatened in any court or other tribunal, state or federal (A) restraining or enjoining, or seeking to restrain or enjoin, the issuance, sale, execution or delivery of the 2020 Note, (B) in any way questioning or affecting the validity or enforceability of any provision of the 2020 Note, the Indenture, the BAN Resolution, the Bond Resolution or the Assessment Proceedings, (C) in any way questioning or affecting the validity of any of the proceedings or authority for the authorization, sale, execution or delivery of the 2020 Note, or of any provision made or authorized for the payment thereof, or (D) questioning or affecting the organization or existence of the District or the right of any of its officers to their respective offices;

A certificate of a Responsible Officer to the effect that, upon the authentication and delivery of the 2020 Note, the District will not be in default in the performance of the terms and provisions of the Master Indenture or this First Supplemental Indenture;

An Engineer's Certificate certifying as to the accuracy of the information set forth in the District Engineer's Report regarding the 2020 Project and stating that the District has good right and lawful authority under the Act to undertake the 2020 Project being financed with the proceeds of the 2020 Note; and

Such other documents, certificates, and opinions as shall be required by the District, the Trustee or the Bank.

Payment to the Trustee of the net amount of the initial Draw as provided in Section 402 hereof shall constitute conclusive evidence that the foregoing conditions have been met to the satisfaction of the Bank.

Section 208 Special Covenant of the District. The District hereby covenants and agrees with the Owners, from time to time, of the 2020 Note, that it will in good faith pursue and accomplish the issuance, sale and delivery of the 2020 Bonds in an aggregate principal amount sufficient to pay and discharge the principal amount of the 2020 Note together with the interest accrued thereon on or before the Maturity Date. The District shall notify the Bank and the Trustee, in writing, of the issuance of the 2020 Bonds.

Section 209 Transfer Restrictions. The registration of ownership of the 2020 Note may be transferred only in whole and only to a Qualified Institutional Buyer (as defined in Section 517.021(20), Florida Statutes), certified by the transferee to the Trustee in writing, on which certification the Trustee may conclusively rely. The 2020 Note shall bear a legend consistent with this Section 209. In addition the transferee must have a long term credit rating at least equal to such credit rating of the Bank at the time of such transfer and must accept in writing the provisions hereunder and the Master Trust Indenture or such transfer must be approved by the District.

ARTICLE III REDEMPTION OF 2020 NOTE

Section 301 2020 Note Subject to Redemption. The 2020 Note is subject to redemption prior to maturity as provided in the form thereof set forth as Exhibit "B" to this First Supplemental Indenture, notwithstanding anything contained in the Master Indenture to the contrary.

Notice of redemption shall specify the principal amount of the 2020 Note being redeemed and be by written or electronic transmission to the Owner at the physical or electronic address of such registered Owner recorded on the bond register maintained by the Bond Registrar not less than ten (10) calendar days prior to the redemption date.

Notwithstanding any other provision hereof or of the Master Indenture, notice of optional redemption may be conditioned upon the occurrence or non-occurrence of such event or events as shall be specified in such notice of optional redemption and may also be subject to rescission by the District if expressly set forth in such notice.

ARTICLE IV
DEPOSIT OF 2020 NOTE PROCEEDS AND APPLICATION THEREOF; ESTABLISHMENT OF ACCOUNTS AND OPERATION THEREOF

Section 401	Establishment of Accounts.

There are hereby established within the Acquisition and Construction Fund held by the Trustee the following accounts:

a 2020 Note Acquisition and Construction Account; and

a 2020 Note Costs of Issuance Account.

There are hereby established within the Debt Service Fund held by the Trustee: a 2020 Note Debt Service Account and therein (i) a 2020 Note Interest Account and (ii) a 2020 Note Principal Account;

There is hereby established within the Reserve Fund held by the Trustee a 2020 Note Reserve Account;

There is hereby established within the Rebate Fund held by the Trustee a 2020 Note Rebate Account.

The District shall deposit into the 2020 Note Principal Account in the 2020 Note Debt Service Account from the first proceeds of the 2020 Bonds an amount sufficient to pay all of the Outstanding principal amount of the 2020 Note on the first date permitted hereunder for redemption thereof, and, from such proceeds shall also deposit into the 2020 Note Interest Account in the 2020 Note Debt Service Account an amount sufficient to pay all of the accrued and unpaid interest on the first date permitted hereunder for the redemption thereof and the District shall direct the Trustee to immediately proceed to call the 2020 Note for redemption as provided for herein, in the Master Indenture and in the 2020 Note. The District shall deposit into the 2020 Note Principal Account in the 2020 Note Debt Service Account Note Assessment Principal and into the 2020 Note Interest Account in the 2020 Note Debt Service Account Note Assessment Interest immediately upon receipt to be used to pay the principal of and interest on the 2020 Note, respectively, when due. The District shall provide written direction to the Trustee to deposit any other moneys transferred by the District to the Trustee into such Funds and Accounts established hereunder as shall be set forth in such written direction and the Trustee shall follow and may conclusively rely on such written directions.

Section 402 Use of 2020 Note Proceeds. From the net proceeds of the initial Draw on the 2020 Note, in an amount of $ 	(representing the entire principal amount drawn at closing ($ 	) less the Commitment Fee of $62,500.00 and Bank Counsel fee ($12,500.00) retained by the Bank), the following deposits shall be made on the date of issuance of the 2020 Note:

$ 	shall be deposited in the 2020 Note Reserve Account;

$ 	shall be deposited in the 2020 Note Interest Account;

$ 	shall be deposited in the 2020 Note Costs of Issuance Account to pay all or a portion of the costs of issuance of the 2020 Note; and

$ 	shall be deposited into the 2020 Note Acquisition and Construction
Account.

On the date of each subsequent Draw, the Draw amount shall be deposited
by the Bank with the Trustee as provided in Section 203 or as to the Unused Fee retained by the Bank and/or in the Draw Request submitted by the District to the Bank and the Trustee. Each Draw pursuant to Section 203 or a Draw Request shall provide that 8% of each amount then subject to such Draw shall be deposited to the 2020 Note Reserve Account. The Trustee has no duty to review the allocation of the proceeds of any Draw.

Section 403  2020 Note Acquisition and Construction Account. Amounts on deposit  in the 2020 Acquisition and Construction Account shall be applied to pay the Costs of the 2020 Project in accordance with requisitions received by the Trustee in the form of Exhibit "C" hereto.

Section 404 2020 Note Costs of Issuance Account. There shall be deposited in the 2020 Note  Costs  of  Issuance Account $ 	_ which shall, at the written direction of an Responsible Officer of the District, be used to pay the costs of issuance relating to the 2020 Note. After December 1, 2020, any amounts deposited in the 2020 Note Costs of Issuance Account for which there is not pending with the Trustee a requisition shall be transferred over and deposited into the 2020 Note Interest Account and used for the purposes permitted therein, and the 2020 Note Costs of Issuance Account shall be closed.

Section 405 2020 Note Reserve Account. Amounts on deposit in the 2020 Note Reserve Account, except as provided elsewhere in the Indenture, shall be used only for the purposes set forth in Sections 808 and 601(m) hereof and for making payments into the 2020 Note Interest Account and the 2020 Note Principal Account to pay the 2020 Note, when due, when the moneys on deposit in such Accounts and available therefor are insufficient. Moneys shall not be withdrawn from the 2020 Note Reserve Account without the consent of the Bank, so long as the Bank is the Owner of the 2020 Note. The Trustee shall promptly notify the District and the Owner in writing of any withdrawal from the 2020 Note Reserve Account, except that the Trustee need not provide such notice when withdrawing funds from the 2020 Note Reserve Account upon direction from the Owner.

All earnings on investments in the 2020 Note Reserve Account, provided no deficiency exists in the 2020 Note Reserve Account Requirement, shall be deposited to the 2020 Note Interest Account. To the extent a deficiency exists in the 2020 Note Reserve Account, investment earnings in such account shall remain in that account. Such account shall consist only of cash and Investment Securities. Under all circumstances, the Trustee shall be entitled to conclusively rely that any investment directed by an Responsible Officer of the District is permitted under the Indenture. Notwithstanding the foregoing, the District covenants that so long as the Bank is the Owner of the 2020 Note and so long as the Bank remains as a Qualified Public Depository (as defined by Chapter 280.02(26), Florida Statutes, as amended), it shall direct the Trustee to invest amounts on deposit in the 2020 Note Reserve Account in the Bank’s collateralized government money market account or in Investment Securities with the Bank.

Section 406 Tax Covenants and Rebate Accounts. The District shall comply with the Arbitrage Certificate (including deposits to and payments from the 2020 Note Rebate Account) included as part of the closing transcript for the 2020 Note, as amended and supplemented from time to time in accordance with its terms.

ARTICLE V
COVENANTS AND DESIGNATIONS OF THE DISTRICT

Section 501 Provision Relating to Bankruptcy or Insolvency of Landowner. The provisions of this Section 501 shall be applicable both before and after the commencement, whether voluntary or involuntary, of any case, proceeding or other action by or against any owner of any tax parcel subject to at least three percent (3%) of the then Outstanding Note Assessments

(an "Insolvent Taxpayer") under any existing or future law of any jurisdiction relating to bankruptcy, insolvency, reorganization, assignment for the benefit of creditors, or relief of debtors (a "Proceeding"). For as long as the 2020 Note remains Outstanding, in any Proceeding involving the District, any Insolvent Taxpayer, the Trustee, the 2020 Note or the Note Assessments, the District shall be obligated to act in accordance with direction from the Trustee with regard to all matters directly or indirectly affecting the 2020 Note or for as long as the 2020 Note remains Outstanding. The District agrees that it shall not be a defense to a breach of the foregoing covenant that it has acted upon advice of counsel in not complying with this covenant.

The District acknowledges and agrees that, although the 2020 Note was issued by the District, the Owner of the 2020 Note is categorically the party with the ultimate financial stake in the transaction and, consequently, the party with a vested and pecuniary interest in a Proceeding. In the event of any Proceeding involving an Insolvent Taxpayer: (a) the District hereby agrees that it shall follow the direction of the Trustee in making any election, giving any consent, commencing any action or filing any motion, claim, obligation, notice or application or in taking any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Note Assessments, the 2020 Note or any rights of the Trustee under the Indenture; (b) the District hereby agrees that it shall not make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action or position in any Proceeding or in any action related to a Proceeding that affects, either directly or indirectly, the Note Assessments, the 2020 Note or any rights of the Trustee under the Indenture that are inconsistent with any direction from the Trustee; (c) the Trustee shall have the right, but is not obligated to, (i) file and vote in any such Proceeding any and all claims of the District, and seek or oppose any relief in any such Proceeding that the District, as claimant with respect to the Note Assessments, would have the right to pursue, and, if the Trustee chooses to exercise any such rights, the District shall be deemed to have appointed the Trustee as its agent and granted to the Trustee an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of exercising any and all rights and taking any and all actions available to the District in connection with any Proceeding of any Insolvent Taxpayer, including without limitation, the right to file and/or prosecute and/or defend any claims and proofs of claims, to vote to accept or reject a plan, to seek dismissal of the Proceeding, to seek stay relief to commence or continue foreclosure or pursue any other available remedies as to the Note Assessments, to seek substantive consolidation, to seek to shorten the Insolvent Taxpayer's exclusivity periods or to oppose any motion to extend such exclusivity periods, to oppose any motion for use of cash collateral or for authority to obtain financing, to oppose any sale procedures motion or any sale motion, to propose a competing plan of reorganization or liquidation, or to make any election under Section 1111(b) of the Bankruptcy Code and (d) the District shall not challenge the validity or amount of any claim submitted in good faith in such Proceeding by the Trustee or any valuations of the lands owned by any Insolvent Taxpayer submitted in good faith by the Trustee in such Proceeding or take any other action in such Proceeding, which is adverse to Trustee's enforcement of the District's claim and rights with respect to the Note Assessments or receipt of adequate protection (as that term is defined in the Bankruptcy Code). Without limiting the generality of the foregoing, the District agrees that the Trustee shall have the right to: (i) file a proof of claim with respect to the Note Assessments, (ii) deliver to the District a copy thereof, together with evidence of the filing with the appropriate court or other authority, and (iii) defend any objection filed to said proof of claim.

Notwithstanding the provisions of the immediately preceding paragraphs, nothing in this Section 501 shall preclude the District from becoming a party to a Proceeding in order to enforce a claim for operation and maintenance assessments, and the District shall be free to pursue such a claim in such manner as it shall deem appropriate in its sole and absolute discretion. Any actions taken by the District in pursuance of its claim for operation and maintenance assessments in any Proceeding shall not be considered an action adverse or inconsistent with the Trustee's rights or directions with respect to the Note Assessments whether such claim is pursued by the District or the Trustee; provided, however, that the District shall not oppose any relief sought by the Trustee under the authority granted to the Trustee in clause (c) of the paragraph above.

Section 502 Collection of Note Assessments. Anything herein or in the Master Indenture to the contrary notwithstanding, the District shall not be required to collect Note Assessments using the Uniform Collection Method provided for in Section 197.3631, 197.3632 and 197.3635, Florida Statutes, provided, that at such time as a property subject to such Note Assessments is either platted or is the subject of a City of Orlando approved Specific Parcel Master Plan and a distinct ad valorem property tax identification number has been assigned by the Property Appraiser thereto, the District shall collect the Note Assessments using the Uniform Collection Method. The District is not required to use the Uniform Collection Method when the property is owned by a government or includes structures owned by a government.

Note Assessments directly collected by the District shall be paid within thirty (30) days of receipt of a direct bill invoice from the District.

In addition, and not in limitation of the covenants contained elsewhere in this First Supplemental Indenture and in the Master Indenture, the District covenants to comply with the terms of the proceedings heretofore adopted with respect to the Note Assessments and to levy the Note Assessments and any required true-up payments set forth in the Assessment Report, in such manner as will generate funds sufficient to pay the principal of and interest on the 2020 Note, when due.

Notwithstanding anything in the Indenture to the contrary, upon the occurrence of an Event of Default, the collection of Note Assessments shall be in the manner directed by the Owner.

Section 503 Covenant With Regard to Enforcement and Collection of Delinquent Assessments. Anything herein or in the Master Indenture to the contrary notwithstanding, the District covenants and agrees that upon the occurrence and continuance of an Event of Default, it will take such actions to enforce the remedial provisions of the Indenture, the provisions for the collection of delinquent Note Assessments, and the provision for the foreclosure of liens of delinquent Note Assessments and will take such other appropriate remedial actions as shall be directed by the Trustee acting at the direction of and on behalf of, the Owner. However, the 2020 Note may not be accelerated except to the extent the Note Assessments have been accelerated.

ARTICLE VI COVENANTS OF THE DISTRICT

Section 601 Affirmative Covenants of the District. For so long as any of the principal amount of or interest on the 2020 Note is Outstanding or any duty or obligation of the District

contemplated hereunder or under the 2020 Note remains unpaid or unperformed, the District covenants to the Bank as follows:

The District shall pay solely from the Note Trust Estate the principal of and the interest on the 2020 Note at the time and place and in the manner provided herein and in the 2020 Note.

Proceeds from the 2020 Note will only be used to finance certain public infrastructure comprising the 2020 Project, fund the 2020 Note Reserve Account, pay capitalized interest on the 2020 Note and pay Costs of Issuance of the 2020 Note including the Unused Fee.

Any material change to the Assessment Proceedings and/or the 2020 Project shall require prior written consent of the Bank.

The District shall within ten (10) calendar days after it acquires knowledge thereof, notify the Bank and the Trustee in writing at its Notice Address upon the happening, occurrence, or existence of any Event of Default, and any event or condition which with the passage of time or giving of notice, or both, would constitute and Event of Default with respect to the 2020 Note, and shall provide the Bank with such written notice, a detailed statement by a Responsible Officer of the District of all the relevant facts and the action being taken or proposed to be taken by the District with respect thereto.

The District agrees that any and all records of the District shall be open to inspection by the Bank or its representatives during normal business hours at the offices of the District.

The District will take all reasonable legal action within its control in order to maintain its existence as a local unit of special-purpose government of the State, and shall not voluntarily dissolve.

The District shall promptly inform the Bank in writing of any actual or potential contingent liabilities or pending or threatened litigation of any amount that could reasonably be expected to have a material and adverse effect upon the financial condition of the District or upon the ability of the District to perform its obligation under the Indenture on the 2020 Note.

The District shall maintain such liability, casualty and other insurance as is reasonable and prudent for similarly situated independent special districts of the State and shall upon request of the Bank, provide evidence of such coverage to the Bank.

The District is in compliance and shall comply with all applicable federal, state and local laws and regulatory requirements.

In the event the 2020 Note should be subject to the excise tax, or any similar tax, the District shall pay such taxes or reimburse the Bank for any such taxes paid by it in addition to any penalties or fees assessed in connection therewith.

The District will cause an audit to be completed of its books and accounts and shall furnish to the Bank within 9 months after the end of each Fiscal Year audited year-end financial statements of the District prepared in accordance with Chapter 10.550 of the Rules of the Florida Auditor General or the provision of any successor statute or rule governing Florida governmental entity audits.

The District shall adopt an annual budget as required by law. The District shall provide the Bank with a copy of its annual budget for each Fiscal Year not later than forty- five (45) days after the commencement thereof. The budget shall specifically detail the Note Assessments and any other special assessments to be levied by the District with respect to such Fiscal Year.

The District shall maintain records with respect to the Note Assessments which shall be updated as Note Assessments are collected. The records shall detail Note Assessments (i) levied to date on a parcel-by-parcel basis, and (ii) collected to date. An annual report setting forth the foregoing information will be provided to the Bank at such times, and in such format as the Bank may reasonably request. Upon the occurrence of an Event of Default with respect to the 2020 Note, the District will, upon request of the Bank, engage the services of a consultant reasonably acceptable to the Bank to make recommendations to the District regarding curing such Event of Default (the “Consultant Engagement”). The Bank will direct the Trustee to provide the funds necessary to pay the cost of the Consultant Engagement from moneys on deposit in the 2020 Note Reserve Account.

Commencing with the tax roll adopted during calendar year 2020, the District shall provide the Bank the certified assessment roll detailing the Note Assessments, if any, to be imposed for each tax year within thirty (30) days of the date such roll becomes available.

The 2020 Project is and will be owned by the District or another political subdivision of the State of Florida and the 2020 Project shall be available for use by the general public on the same basis, subject only to conditions imposed by the District or another political subdivision of the State of Florida as may be necessary to protect the health, safety and general welfare of the District and its inhabitants, visitors, property owners and workers or to protect such 2020 Project from damage, misuse, or destruction. The District shall observe and perform all of the terms and conditions contained in the Act, and shall comply with all valid acts, rules, regulations, orders and directions of any legislative, executive, administrative or judicial body applicable to the 2020 Project. To the extent the District maintains any portion of the 2020 Project, the District shall levy operation and maintenance assessments as shall be necessary to provide for the maintenance of such portion of the 2020 Project maintained by the District. Within the first six
(6) months of each Fiscal Year the District Manager shall file with the Bank a compliance certificate as confirmation of the insurance coverages relating to the 2020 Project, such compliance certificate to include, without being limited thereto, a schedule of all insurance policies required by the Indenture which are then in effect, stating with respect to each policy the name of the insurer, the amount, number and expiration date, and the hazards and the risks covered thereby.

The District will levy the Note Assessments in such amounts in accordance with the Assessment Proceedings when combined with amounts in the Debt Service Fund as shall produce an amount at least sufficient to pay the principal of and interest on the 2020 Note as the

same become due and payable, in addition to all other expenses payable out of the Note Assessments. Note Assessments shall be used solely to pay debt service on the 2020 Note including the cost of collection, and as otherwise provide under the Indenture. The District represents to the Bank that the District has taken all steps legally necessary to have been taken as of the date of issuance of the 2020 Note in order to impose the Note Assessments and the District shall take all steps within its power as shall in the future be legally necessary to impose the Note Assessments in such amount. The District covenants that if any of the Note Assessments shall be either in whole or in part annulled, vacated or set aside by the judgment of any court, or if the District shall be satisfied that any such assessment is so irregular or defective that the same cannot be enforced or collected, or if the District shall have omitted to make any such assessment when it might have done so, the District covenants that it will take all necessary steps to cause new Note Assessments to be made in the manner provided by law and in any case any such second Note Assessment or an initial Note Assessment for one that shall have been omitted, shall either in whole or in part be annulled, vacated or set aside, or be unenforceable or uncollectible by reason of defect or irregularity, the District shall obtain and make other Note Assessments until a valid Note Assessment shall be made.

The District shall cause the Consulting Engineer to make an inspection of all portions of the 2020 Project owned by the District at least once in each Fiscal Year and, on or before the first day of July in each Fiscal Year, to submit to the Board a report setting forth (i) its findings as to whether such portions of the 2020 Project owned by the District have been maintained in good repair, working order and condition, and (ii) its recommendations as to the proper maintenance, repair and operation of the 2020 Project during the ensuing Fiscal Year and an estimate of the amount of money necessary for such purpose.

Section 602 Negative Covenants of the District. For so long as any of the principal amount of or interest on the 2020 Note is Outstanding or any duty or obligation of the District contemplated hereunder or under the 2020 Note remains unpaid or unperformed, the District covenants to the Bank as follows:

The District shall not materially alter, amend or repeal the Assessment Proceedings, or take any action impairing the authority thereby or hereby given with respect to the Note Assessments, or the payment of the 2020 Note, without the prior written approval of the Bank which approval shall not be unreasonably withheld; provided, however, that the District may amend and supplement the Assessment Proceedings to expand the properties subject to the Note Assessments, without the prior written consent of the Bank, as long as the total amount of the Note Assessments is not reduced from that set forth in the initial Assessment Proceedings.

The District shall not create or permit any pledge, assignment, mortgage or lien on the Note Assessments or the 2020 Project other than in connection with the issuance of the 2020 Bonds, the net proceeds of which are used to redeem the 2020 Note in its entirety.

The District shall not dispose of any of the 2020 Project other than in the ordinary course of business.

The District shall not loan money or make advances or other extensions of credit to other Persons or entities except in the normal of course the District's operations.

EVENTS OF DEFAULT

Section 701	Events of Default. Section 10.02 of the Master Indenture is hereby amended and restated with respect to the 2020 Note as follows:

Each of the following events is hereby declared to be an "Event of Default" with respect to the 2020 Note:

a Monetary Default; or

the District shall default in the performance of or compliance with any term or covenant contained in the Indenture, which default or noncompliance shall continue and not be cured within thirty (30) days after (i) notice thereof to the District by the Bank; or (ii) the Bank is notified of such noncompliance or should have been so notified, whichever is earlier; provided, however, if the District is diligently pursuing a remedy, then the cure period is extended to ninety
days; or

any representation or warranty made in writing by or on behalf of the District in any agreement relating to the 2020 Note shall prove to have been false or incorrect in any material respect on the date made or reaffirmed; or

the District admits in writing its inability to pay its debts generally as they become due or files a petition in bankruptcy or makes an assignment for the benefit of creditors or consents to the appointment of a receiver or trustee for itself; or

the District is adjudged insolvent by a court of competent jurisdiction, or it is adjudged a bankrupt on a petition in bankruptcy filed by or against the District, or an order, judgment or decree is entered by any court of competent jurisdiction appointing, without the consent of the District, a receiver or trustee of the District or of the whole or any part of its property, and if the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within ninety (90) days from the date of entry thereof; or

the District shall file a petition or answer seeking reorganization or any arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or the State of Florida; or

the District shall default in the due and punctual payment or performance of covenants under any obligation for the payment of money to the Bank or any other subsidiary or affiliate of the Bank; or

a judgment or order shall be rendered against the District for the payment of money in excess of $250,000 and such judgment or order shall continue unsatisfied or unstayed for a period of more than 30 days; provided, however, if the District is diligently pursuing a remedy, then the cure period is extended to ninety (90) days.

MISCELLANEOUS PROVISIONS

Section 801 Foreclosure of Assessment Lien. Notwithstanding any provisions of the Indenture to the contrary, the following provisions shall apply with respect to the Note Assessments and 2020 Note.

If any property shall be offered for sale for the nonpayment of any Note Assessment and no Person or Persons shall purchase such property for an amount equal to the full amount due on the Note Assessments for such property (principal, interest, penalties and costs, plus attorneys' fees, if any), the property may (but is not required to be) then be purchased by the District for an amount greater than or equal to the balance due on the Note Assessments for such property (principal, interest, penalties and costs, plus attorneys' fees, if any), from any legally available funds of the District and the District shall receive in its corporate name or in the name of a special- purpose entity title to the property for the benefit of the Owners of the 2020 Note; provided that the Trustee shall have the right, acting at the direction of the Owner, but shall not be obligated, to direct the District with respect to any action taken pursuant to this Section. The District, either through its own actions, or actions caused to be taken through the Trustee, shall have the power and shall lease or sell such property, and deposit all of the net proceeds of any such lease or sale into the 2020 Note Debt Service Account. The District, either through its own actions, or actions caused to be taken through the Trustee, agrees that it shall, after being provided assurances satisfactory to it of payment of its fees, costs and expenses for doing so, be required to take the measures provided by law for listing for sale of property acquired by it as trustee for the Owners of the 2020 Note within sixty (60) days after the receipt of the request therefore signed by the Trustee or the Owner. The Trustee may, upon direction from the Owner, pay costs associated with any actions taken by District pursuant to this paragraph from any moneys legally available for such purpose held under the Indenture.

Section 802 Interpretation of First Supplemental Indenture. This First Supplemental Indenture amends and supplements the Master Indenture with respect to the 2020 Note, and all of the provisions of the Master Indenture, to the extent not inconsistent herewith, are incorporated in this First Supplemental Indenture by reference. To the maximum extent possible, the Master Indenture and this First Supplemental Indenture shall be read and construed as one document.

Section 803 Amendments. No amendment to this First Supplemental Indenture or Section 13.01(d) of the Master Indenture shall be made without the written consent of the Bank, so long as the Bank is the Owner of the 2020 Note.

Section 804 Counterparts. This First Supplemental Indenture may be executed in any number of counterparts, each of which when so executed and delivered shall be an original; but such counterparts shall together constitute but one and the same instrument.

Section 805 Appendices and Exhibits. Any and all schedules, appendices or exhibits referred to in and attached to this First Supplemental Indenture are hereby incorporated herein and made a part of this First Supplemental Indenture for all purposes.

Section 806 Payment Dates. In any case in which an Interest Payment Date or the Maturity Date of the 2020 Note or the date fixed for the redemption of any 2020 Note shall be other than a Business Day, then payment of interest, principal or Redemption Price need not be made on such date but may be made on the next succeeding Business Day with the same force and effect as if made on the due date, however interest on such payment shall accrue through and including such next succeeding Business Day.

Section 807 No Rights Conferred on Others. Nothing herein contained shall confer  any right upon any Person other than the parties hereto and the Owner of the 2020 Note.

Section 808 Use of 2020 Note Reserve Account. Upon the occurrence of an Event of Default, moneys in the 2020 Note Reserve Account may be used with the consent of the Bank as long as the Bank is the sole Owner of the 2020 Note to pay the fees and the expenses and costs of litigation and other remedies of the Trustee incurred, to pursue remedies under the Indenture or defending claims asserted against the Trustee not arising from the actions of the Trustee. The Bank acknowledges that any right it may have to consent to such application of funds does not apply to other monies in the Note Trust Estate and does not limit the Trustee's rights under Section
11.04 of the Master Indenture, except with respect to the 2020 Note Reserve Account and then only to the limited extent described herein.

Section 809 Bond Year. The Bond Year for the 2020 Note shall mean May 1 through April 30 of the following calendar year with the initial Bond Year being 	, 2020 through April 30, 2021.

Section 810 Waiver of Jury Trial. THE DISTRICT AND  THE TRUSTEE WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THE INDENTURE, THE 2020 NOTE AND/OR THE NOTE TRUST ESTATE. THIS WAIVER IS KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY MADE BY THE DISTRICT AND THE TRUSTEE. THE DISTRICT AND THE TRUSTEE, EACH ACKNOWLEDGE THAT NO PERSON ACTING ON BEHALF OF A PARTY TO THE INDENTURE HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT. THE DISTRICT AND THE TRUSTEE FURTHER ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THE INDENTURE AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND THAT THEY HAVE HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

Section 811 Notices. Any notice to be provided to the District or the Trustee under the Indenture with respect to the 2020 Note shall be provided to the Bank at the Notice Address so long as the Bank is the Owner of the 2020 Note.

ARTICLE IX
THE TRUSTEE; THE PAYING AGENT AND BOND REGISTRAR

Section 901 Acceptance of Trust. The Trustee accepts and agrees to execute the trusts hereby created and agrees to perform such trusts upon the terms and conditions set forth in the Indenture. The Trustee agrees to act as Paying Agent and Bond Registrar for the 2020 Note.

Section 902 Trustee's Duties. The Trustee shall not be responsible in any manner for  the due execution of this First Supplemental Indenture by the District or for the recitals contained herein (except for the certificate of authentication on the 2020 Note), all of which are made solely by the District. Nothing contained herein shall limit the rights, benefits, privileges, protection and entitlement inuring to the Trustee under the Master Indenture.

Section 903 Brokerage Confirmations. The District acknowledges that to the extent regulations of the Comptroller of the Currency or other applicable regulatory entity grant the District the right to receive individual confirmations of security transactions at no additional cost, as they occur, the District specifically waives receipt of such confirmations to the extent permitted by law. The Trustee will furnish the District periodic cash transaction statements that include detail for all investment transactions made by the Trustee hereunder.

Section 904 Patriot Act Requirements of Trustee. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identified each Person who opens an account. For a non-individual Person such as business entity, a charity, a trust, or other legal entity, the Trustee will ask for documentation to verify such non-individual Person’s formation and existence as a legal entity. The Trustee may also ask to see financial statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation

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IN WITNESS WHEREOF, Poitras East Community Development District has caused these presents to be signed in its name and on its behalf by its Chairman, and its official seal to be hereunto affixed and attested by its Secretary, thereunto duly authorized, and to evidence its acceptance of the trusts hereby created, the Trustee has caused these presents to be signed in its name and on its behalf by its duly authorized officer.

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

SEAL

ATTEST:

By:		 Chairman, Board of Supervisors

By:		 Secretary

U.S. BANK NATIONAL ASSOCIATION, as Trustee

By:		 Vice President

EXHIBIT "A"

Description of 2020 Project See Attached

EXHIBIT "B"

Form of the 2020 Note

THE REGISTRATION OF OWNERSHIP OF THIS 2020 NOTE MAY BE TRANSFERRED ONLY IN WHOLE AND ONLY TO A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN SECTION 517.021(20), FLORIDA STATUTES) AS PROVIDED IN THE SUPPLEMENTAL INDENTURE
No. BAN2020-R-1		Not to Exceed $25,000,000 United States of America
State of Florida
POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REVENUE
BOND ANTICIPATION NOTE, SERIES 2020

Interest Rate	Maturity Date	Dated Date	
4.25%	 		 		
(subject to adjustment as provided in the Supplemental Indenture)			

Registered Owner:	SYNOVUS BANK

Principal Amount:	NOT TO EXCEED TWENTY-FIVE MILLION DOLLARS

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT, a special district duly created and existing pursuant to Chapter 190, Florida Statutes (the "District"), for value received, hereby promises to pay (but only out of the sources hereinafter mentioned) to the Registered Owner set forth above, or registered assigns, on the maturity date shown hereon, unless this 2020 Note shall have been called for redemption in whole or in part and payment of the Redemption Price (as defined in the Indenture mentioned hereinafter) shall have been duly made or provided for, the Outstanding principal amount and to pay (but only out of the sources hereinafter mentioned) interest on the outstanding principal amount hereof from the date of each advance of principal or from any Interest Payment Date thereafter on May 1 and November 1 of each year (each, an "Interest Payment Date"), commencing on May 1, 2021, at the rate per annum set forth above. The District may request advances, repay such advances and reborrow on the 2020 Note. Notwithstanding the foregoing, if any Interest Payment Date is not a Business Day (as defined in the Indenture hereinafter mentioned), then all amounts due on such Interest Payment Date shall be payable on the first Business Day succeeding such Interest Payment Date. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the Indenture (as hereinafter defined), be paid to the Registered Owner hereof at the close of business on the regular record date for such interest, which shall be the fifteenth (15th) day of the calendar month next preceding such Interest Payment Date, provided, however, that on or after the occurrence and continuance of an Event of Default under clause (a) of Section 701 of the Supplemental Indenture, the payment of interest and principal or Redemption Price shall be made by U.S. Bank National Association in Orlando, Florida, or any alternate or successor paying agent (the "Paying Agent") to such Person, who, on a special record date which is fixed by the Trustee,

which shall be not more than fifteen (15) and not less than ten (10) days prior to the date of such proposed payment, appears on the registration books of the Bond Registrar as the registered Owner of this 2020 Note. Any payment of principal or Redemption Price shall be made to such Person who appears on the registration books of the Bond Registrar as the registered Owner of this 2020 Note at the close of business on the fifteenth (15th) day of the calendar month next preceding such payment, or, if such day is not a Business Day, on the Business Day immediately preceding such day. Payment of interest shall be made by check or draft (or by wire transfer to the registered Owner set forth above if such Owner requests payment by wire transfer in writing on or prior to the regular record date for the respective interest payment to such account as shall be specified in such request). Interest on this 2020 Note will be computed on the basis of a 360-day year of twelve 30-day months. Presentment of this 2020 Note shall not be required for payment so long as the Bank (as defined in the Supplemental Indenture) is the registered Owner thereof. Payment of the Unused Fee as defined in the Supplemental Indenture shall be due on each Interest Payment Date as provided in the Supplemental Indenture.

Upon the occurrence of an Adjustment Event (as defined in the Supplemental Indenture), the interest rate borne by this 2020 Note shall be subject to adjustment as provided in the Supplemental Indenture.

This 2020 Note is a duly authorized issue of bond anticipation notes of the District designated "Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020 (the "2020 Note") issuable under and governed by the terms of a Master Trust Indenture, dated as of August 1, 2020 (the "Master Indenture"), between the District and U.S. Bank National Association, as trustee (the "Trustee"), as supplemented by a First Supplemental Trust Indenture, dated as of August 1, 2020 (the "Supplemental Indenture"), between the District and the Trustee (the Master Indenture as supplemented by the Supplemental Indenture is hereafter referred to as the "Indenture"). The 2020 Note is secured by the Note Pledged Revenues and Note Pledged Funds as provided for in the Indenture. The 2020 Note may not be outstanding in an aggregate principal amount in excess of $25,000,000, is issued for the purpose of (i) financing the Cost of the acquisition, construction, installation and equipping of the 2020 Project; (ii) paying certain costs associated with the issuance of the 2020 Note; (iii) funding the 2020 Note Reserve Account and (iv) paying interest accruing on the 2020 Note and the Unused Fee.

Prior to the Maturity Date, the principal of the 2020 Note shall be advanced by the Bank to the District pursuant to multiple draws (each a "Draw") subject to the terms and conditions provided in the Indenture. Interest shall accrue only on the outstanding principal amount of the 2020 Note drawn down from the date of each draw. Evidence of all draws shall be maintained by the Bank on Schedule I of this 2020 Note. Amounts advanced and repaid by the District may be reborrowed.

NEITHER THIS 2020 NOTE NOR THE INTEREST PAYABLE HEREON SHALL CONSTITUTE A GENERAL OBLIGATION OR GENERAL INDEBTEDNESS OF THE DISTRICT WITHIN THE MEANING OF THE CONSTITUTION AND LAWS OF FLORIDA. THIS 2020 NOTE AND THE INTEREST AND PREMIUM, IF ANY, PAYABLE HEREON AND THEREON DO NOT CONSTITUTE EITHER A PLEDGE OF THE FULL FAITH AND CREDIT OF THE DISTRICT OR A LIEN UPON ANY PROPERTY OF THE DISTRICT

OTHER THAN AS PROVIDED IN THE INDENTURE AUTHORIZING THE ISSUANCE OF THIS 2020 NOTE. NO OWNER OR ANY OTHER PERSON SHALL EVER HAVE THE RIGHT TO COMPEL THE EXERCISE OF ANY AD VALOREM TAXING POWER OF THE DISTRICT OR ANY OTHER PUBLIC AUTHORITY OR GOVERNMENTAL BODY TO PAY DEBT SERVICE OR TO PAY ANY OTHER AMOUNTS REQUIRED TO BE PAID PURSUANT TO THE INDENTURE, OR THIS 2020 NOTE. RATHER, DEBT SERVICE AND ANY OTHER AMOUNTS REQUIRED TO BE PAID PURSUANT TO THE INDENTURE, OR THIS 2020 NOTE, SHALL BE PAYABLE SOLELY FROM, AND SHALL BE SECURED SOLELY BY, THE NOTE PLEDGED REVENUES AND THE NOTE PLEDGED FUNDS PLEDGED TO THE 2020 NOTE, ALL AS PROVIDED HEREIN AND IN THE INDENTURE.

All acts, conditions and things required by the Constitution and laws of the State of Florida and the resolutions of the District to happen, exist and be performed precedent to and in the issuance of this 2020 Note and the execution of the Indenture, have happened, exist and have been performed as so required. This 2020 Note shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Indenture until it shall have been authenticated by the execution by the Trustee of the Certificate of Authentication endorsed hereon.

This 2020 Note is issued under and pursuant to the Constitution and laws of the State of Florida, particularly Chapter 190, Florida Statutes and other applicable provisions of law and pursuant to the Indenture, executed counterparts of which Indenture are on file at the designated office of the Trustee. Reference is hereby made to the Indenture for the provisions, among others, with respect to the custody and application of the proceeds of 2020 Note, the collection and disposition of revenues and the funds charged with and pledged to the payment of the principal, and Redemption Price of, and the interest on, the 2020 Note, the nature and extent of the security thereby created, the covenants of the District with respect to the levy and collection of Note Assessments (as defined in the Supplemental Indenture), the terms and conditions under which the 2020 Note is or may be issued, the rights, duties, obligations and immunities of the District and the Trustee under the Indenture and the rights of the Owner of this 2020 Note, and, by the acceptance of this 2020 Note, the Owner hereof assents to all of the provisions of the Indenture. Terms not otherwise defined herein shall have the meaning ascribed to them in the Indenture.

The 2020 Note is issuable only as a single registered note without coupons in current interest form in the denomination of the then outstanding aggregate principal amount on this 2020 Note (the "Authorized Denomination"). Subject to the transfer restrictions stated on the face of this 2020 Note and in the Supplemental Indenture, this 2020 Note is transferable by the registered Owner hereof or his duly authorized attorney at the designated corporate trust office of the Trustee in Orlando, Florida as Bond Registrar (the "Bond Registrar"), upon surrender of this 2020 Note, accompanied by a duly executed instrument of transfer in form and with guaranty of signature reasonably satisfactory to the Bond Registrar, subject to such reasonable regulations as the District or the Bond Registrar may prescribe, and upon payment of any taxes or other governmental charges incident to such transfer. Upon any such transfer a new 2020 Note, in the same aggregate principal amount as the 2020 Note transferred, will be issued to the transferee. This 2020 Note may be exchanged for an equal aggregate principal amount of 2020 Note of the same maturity, in the Authorized Denomination and bearing interest at the same rate at the corporate trust office of the Bond Registrar in Orlando, Florida, in the manner and subject to the limitations and conditions provided in the Indenture and without cost, except for any tax or other governmental charge.

This 2020 Note is subject to redemption prior to maturity at the option of the District, in whole or in part at any time on any Business Day, at a Redemption Price equal to 100% of the principal amount of the 2020 Note to be redeemed plus interest accrued to the redemption date.

Notice of redemption shall specify the principal amount of the 2020 Note being redeemed and be by written or electronic transmission to the Owner at the physical or electronic address of such registered Owner recorded on the bond register maintained by the Bond Registrar not less than ten (10) calendar days prior to the redemption date.

The Owner of this 2020 Note shall have no right to enforce the provisions of the Indenture or to institute action to enforce the covenants therein, or to take any action with respect to any Event of Default under the Indenture, or to institute, appear in or defend any suit or other proceeding with respect thereto, except as provided in the Indenture.

Modifications or alterations of the Master Indenture or of any indenture supplemental thereto may be made only to the extent and in the circumstances permitted by the Indenture.

Any moneys held by the Trustee or any Paying Agent in trust for the payment and discharge of the 2020 Note which remain unclaimed for three (3) years after the date when this 2020 Note has become due and payable, either at its stated maturity dates or by call for earlier redemption, if such moneys were held by the Trustee or any Paying Agent at such date, or for three (3) years after the date of deposit of such moneys if deposited with the Trustee or Paying Agent after the date when this 2020 Note became due and payable, shall be paid to the District, and thereupon and thereafter no claimant shall have any rights against the Paying Agent to or in respect of such moneys.

This 2020 Note shall have all the qualities and incidents, including negotiability, of investment securities within the meaning and for all the purposes of the Uniform Commercial Code of the State of Florida.

This 2020 Note is issued with the intent that the laws of the State of Florida shall govern its construction.

THE REGISTERED OWNER WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THE INDENTURE, THE 2020 NOTE AND/OR THE NOTE TRUST ESTATE. THIS WAIVER IS KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY MADE BY REGISTERED OWNER. THE REGISTERED OWNER, ACKNOWLEDGES THAT NO PERSON ACTING ON BEHALF OF A PARTY TO THE INDENTURE HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT. THE REGISTERED OWNER FURTHER ACKNOWLEDGES THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE MAKING OF THIS WAIVER BY INDEPENDENT COUNSEL, SELECTED OF THEIR OWN FREE WILL, AND THAT THEY HAVE HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

IN WITNESS WHEREOF, Poitras East Community Development District has caused this 2020 Note to bear the signature of the Chairman of its Board of Supervisors and the official seal of the District to be impressed or imprinted hereon and attested by the signature of the Secretary to the Board of Supervisors.

SEAL

ATTEST:

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

By:		 Chairman, Board of Supervisors

By:		 Secretary to Board of Supervisors

CERTIFICATION OF AUTHENTICATION

U.S. BANK NATIONAL ASSOCIATION, as Bond Registrar

Date of Authentication: 	, 2020

By:		 Vice President

ABBREVIATIONS FOR 2020 NOTE

The following abbreviations, when used in the inscription on the face of the within 2020 Note, shall be construed as though they were written out in full according to applicable laws or regulations.

TEN COM	as tenants in common TEN ENT	as tenant by the entireties
JT TEN	as joint tenants with the right of survivorship and not as tenants in common

UNIFORM TRANS MIN ACT - 		Custodian		 	under Uniform Transfers to Minors Act 	(State)

Additional abbreviations may also be used though not in the above list.

ASSIGNMENT FOR 2020 NOTE

For	value	received,	the	undersigned	hereby	sells,	assigns	and	transfers	unto the within 2020 Note and all rights thereunder, and hereby irrevocably

constitutes and appoints	, attorney to transfer the said 2020 Note on

the books of the District, with full power of substitution in the premises.

Dated this 	day of  	

Social Security Number of Employer:  	  Identification Number of Transferee:   	 Signature guaranteed: _ 		

NOTICE: The assignor's signature to this
Assignment must correspond with the name as it appears on the face of the within 2020 Note in every particular without alteration or any change whatever.

By:		 Authorized Signatory

SCHEDULE "I" REQUEST
Date of Draw	Amount of Draw	Recorded by:	
August 	, 2020	$		

			

			

			

			

			

EXHIBIT C DRAW REQUEST FORM DRAW REQUEST 	

Synovus Bank
2326 Vanderbilt Beach Road 	 Naples, FL 34109
Attention: Government Banking Solutions jimmitchell@synovus.com

The Poitras East Community Development District (the "District") does hereby make the following Draw Request made pursuant to a Master Trust Indenture dated as of August 1, 2020, as supplemented by a First Supplemental Trust Indenture dated as of August 1, 2020, each by and between the District and U.S. Bank National Association, as Trustee (together, the "Indenture'). All terms used herein in capitalized form and not otherwise defined herein shall have the meanings ascribed thereto pursuant to the Indenture.

The principal amount of this draw shall be $ 	and the draw date shall be
 	,       , which is prior to 	,   .  The Draw shall be made under the 2020 Note. The principal amount of this requested Draw, together with all prior Draws does not exceed $25,000,000. The wire instructions for the transfer are as follows:

[WIRE INSTRUCTIONS FOR TRUSTEE]

For Credit to:

The District represents and warrants that (a) it remains in full compliance with the terms of the Indenture, (b) no Event of Default under the Indenture currently exists, (c) no event has occurred that with the passage of time or giving of notice would constitute an Event of Default,
(d) the facts, estimates, circumstances and representations set forth or made (as the case may be) in the Tax Regulatory Covenants delivered in connection with the initial issuance of the 2020 Note continue to exist on the date hereof, and (e) all of the conditions precedent to the Draw requested hereby set forth in the Indenture have been satisfied.

Attached to this Draw Request is a copy of the Requisition for Payment that was or is being submitted to the Trustee simultaneous herewith, including all attachments thereto. Said Requisition for Payment shall be in substantially the form attached as Exhibit "A" hereto.

The Maturity Date is 	.

Dated 	,  	

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

By:
Name:	 Title:  	

cc: U.S. Bank National Association, as Trustee

EXHIBIT A

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT REQUISITION FOR PAYMENT
2020 NOTE ACQUISITION AND CONSTRUCTION ACCOUNT

DATE: PAYEE:	 	
 		REQUISITION NO: AMOUNT DUE:	 	
 		
ADDRESS:	 		FUND:	Acquisition/Construction	
				
ITEM:				

The undersigned hereby certifies that obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the 2020 Acquisition and Construction Account, referenced above, that each disbursement set forth above was incurred in connection with the acquisition and the construction of the 2020 Project (herein after the "Project") and each represents a Cost of the Project, and has not previously been paid.

The undersigned hereby further certifies that there has not been filed with or served upon the District notice of any lien, right to lien, or attachment upon, or claim affecting the right to receive payment of, any of the monies payable to the Payee set forth above, which has not been released or will not be released simultaneously with the payment hereof.

The undersigned hereby further certifies that such requisition contains no item representing payment on account of any retained percentage, which the District is at the date of such certificate entitled to retain.

It is hereby represented by the undersigned that the Board of the District has approved this requisition or has approved the specific contract with respect to which disbursements pursuant to this requisition are due and payable.

All invoice(s) are on file with the District from the vendor of the property acquired or services rendered with respect to which disbursement is hereby requested.

POITRAS	EAST	COMMUNITY	DEVELOPMENT
DISTRICT

BY:		 CHAIRMAN or VICE CHAIRMAN

DISTRICT ENGINEER'S APPROVAL FOR PROJECT EXPENDITURES

The undersigned District Engineer hereby certifies that this disbursement is for a cost of the Project and is consistent with: (i) the applicable or construction contract; (ii) the plans and specifications for the portion of the Project with respect to which such disbursement is being made; and, (iii) the report of the District Engineer, as such report shall have been amended or modified as of the date hereof.

BY:	 	
DISTRICT ENGINEER

Poitras East Community Development District

Term Sheet

Government Banking Solutions

July 9, 2020

Brent Wilder, Managing Director PFM Financial Advisors, LLC wilderb@pfm.com

Hank Fishkind, Ph.D., Director PFM Financial Advisors, LLC fishkindh@pfm.com

Michael Dennis, Analyst
PFM Financial Advisors, LLC dennism@pfm.com

RE: Non-Bank Qualified Tax Exempt Bond Anticipation Note, Series 2020

Synovus Bank (“Synovus” or "Bank") is pleased to consider a financing arrangement (the “Facility”) for the Poitras East Community Development District (the “District”), the basic terms and conditions of which are set forth below. This financing proposal is not exhaustive, and the credit facility is subject to other terms and conditions normally required by Synovus for similar transactions. The proposed Facility is subject to the satisfactory completion of Synovus’s customary due diligence, underwriting and receipt of credit approval. This letter is not a commitment to lend.

Borrower:	Poitras East Community Development District (the “District”) Facility:	Non-Bank Qualified Tax Exempt Revolving Line of Credit (“Note”) Amount:	$ 25,000,000 (not to exceed)
Purpose:	The proceeds of the Note will be used to finance certain infrastructure of the District, fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance.

Term:	The term of the Bond Anticipation Draw Note shall be approximately 4 years from the date of closing.

Collateral:	The Note will be a Limited Obligation of the District. The principal and interest on the Series 2020 Note will be payable solely from and secured by i) the proceeds of debt service special assessments levied by the District against specially benefitting properties in the District (“Assessments”), ii) the proceeds from any debt issued by the District to refinance the proposed Note, and iii) the Debt Service Reserve Fund. Prior to closing, the District shall provide an Engineer’s Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank.

Repayment:	Semi-Annual interest payments on the 1st of each May and November, commencing on May 1, 2021. Principal due at maturity.

Interest Rate: The interest rate would be fixed at 4.25 percent.

Pre-payment:  The District may prepay and redeem the Note, in whole or part, at any time or from time to   time, without penalty or premium, by paying to the Bank all or a part of the principal amount of the Note to be repaid, together with the unpaid interest accrued on the amount of principal

so prepaid to the date of such prepayment. Each prepayment and redemption of such Note shall be made on such date and in such principal amount as shall be specified by the District in a written notice delivered to the Bank not less than ten days prior thereto specifying the principal amount to be prepaid and the date of such prepayment.

Fees:	Twenty-five basis point (.25%) Note Commitment Fee plus the District will pay a twenty- five basis point (.25%) Unused Fee on that portion of the commitment amount that has not been utilized. The Unused Fee will be paid semi-annually.
The District is responsible for all legal and out of pocket expenses associated with the proposed financing. The Bank will be represented by Greenspoon Marder Law, whose fee will be fixed at $12,500.

Affirmative
Covenants: For so long as any of the principal amount of or interest on the  proposed Note  is  outstanding or any duty or obligation of the District contemplated under the proposed Note remains unpaid or unperformed, the District covenants to the Bank as follows:
Payment – The District shall pay all debt service as defined in the Note at the time and place and in the manner provided in the Note.
Use of Proceeds - The proceeds of the Note will be used to finance certain infrastructure of the District, fund a Debt Service Reserve Fund, capitalized interest, and pay the costs of issuance. Prior to closing, the District shall provide both an Engineer’s Report and Assessment Methodology that shall document the scope of improvements and the benefitting properties which shall be acceptable to the Bank. Any subsequent material changes to the Assessment Methodology or the overall description of the project in the Engineer’s Report shall require written consent of Bank.
Notice of Defaults - The District shall within ten days after it acquires knowledge thereof, notify the Bank in writing at its Notice Address upon the happening, occurrence, or existence of any Event of Default, and any event or condition which with the passage of time or giving of notice, or both, would constitute an Event of Default, and shall provide the Bank with such written notice, a detailed statement by a responsible officer of the District of all the relevant facts and the action being taken or proposed to be taken by the District with respect thereto.
Records - The District agrees that any and all records of the District shall be open to inspection by the Bank or its representative’s during normal business hours at the offices of the District.
Maintain Existence - The District will take all reasonable legal action within its control in order to maintain its existence as a community development district of the State, and shall not voluntarily dissolve.
Notice of Liabilities - The District shall promptly inform the Bank in writing of any actual or potential contingent liabilities or pending or threatened litigation of any amount that could reasonably be expected to have a material and adverse effect upon the financial condition of the District or upon the ability of the District to perform its obligation under the proposed Note.
Insurance - The District shall maintain such liability, casualty and other insurance as is reasonable and prudent for similarly situated independent special districts of the State and shall upon request of the Bank, provide evidence of such coverage to the Bank.
Comply with Laws - The District is in compliance and shall comply with all applicable federal, state and local laws and regulatory requirements.
Taxes - In the event the proposed Note should be subject to the excise tax or any other Note Document should be subject to the excise tax on documents, or any similar tax, the District shall pay such taxes or reimburse the Bank for any such taxes paid by it.
Audited Financial Statements - The District will cause a financial audit to be completed of its books and accounts for each fiscal year, beginning with the fiscal year ending September 30, 2020, and shall furnish such financial audit to the Bank within

270 days of the end of each such fiscal year. The financial audit shall be prepared in accordance with Chapter 10.550 of the Rules of the Florida Auditor General or the provisions of any successor state or rule governing Florida local governmental entity audits.
Annual Budget. The District shall adopt an annual budget as required by law and shall provide the Bank with a copy of its annual budget for each fiscal year not later than 45 days after the commencement thereof. The budget shall specifically detail the Assessments and any other special assessments to be levied by the District with respect to such fiscal year.
Assessment Records. The District shall maintain records with respect to the Assessments which shall be updated as Assessments are collected. The records shall detail Assessments (i) levied to date on a parcel-by-parcel basis, and (ii) collected to date. An annual report setting forth the foregoing information will be provided to the Bank at such times, and in such format as the Bank may reasonably request. Upon the occurrence of any Event of Default, the Trustee will, upon request of the Bank, engage the services of a consultant acceptable to the Bank to make recommendations to the District to best cure the Event of Default.
Assessment Roll. Commencing with the tax roll adopted during calendar year 2020, the District shall provide to the Bank the certified assessment roll detailing the Assessments, if any, to be imposed for each tax year within 30 days of the date such roll becomes available.
Maintenance of Improvements. All Improvements are and will be owned by the District or another political subdivision of the  State of Florida  and all  Improvements  shall  be available for use by the general public on the same basis, subject only  to  conditions imposed by the District or another political subdivision of the State of Florida as may be necessary  to  protect  the  health  safety  and  general  welfare  of the District and its inhabitants, visitors, property owners and workers or to protect  such Improvements from damage, misuse, or destruction. The District shall observe and perform all of the terms and conditions contained in the Act, and shall comply with all valid acts, rules, regulations, orders and directions of any legislative, executive, administrative or judicial body applicable to the Improvements. The  District shall levy assessments as shall be  necessary to  provide for the  maintenance of the Improvements.

Negative
Covenants:	For so long as any of the principal amount of or interest on the proposed Note is outstanding or any duty or obligation of the District under the proposed Note remains unpaid or any obligation of the District under any of the Note Documents remain unpaid or unperformed, that:
No Amendments. The District shall not alter, amend or repeal the Assessment Resolutions, or take any action impairing the authority thereby or hereby given with respect to the imposition of the Assessments, or the payment of the Note, without prior written approval of the Bank which shall not be unreasonably withheld. However, the District may amend the Assessment Resolution to expand the Project Area so long as the total of the Assessments in the Project Area prior to the expansion are not reduced.
No Liens. The District shall not create or permit any pledge, assignment, mortgage or lien on the Assessments or the Improvements other than pursuant to the Note Documents.
Disposition of Assets. The District shall not dispose of any of the Improvements other than in the ordinary course of business.
Loans. The District shall not loan money or make advances or other extensions of credit to other persons or entities except in the normal course of the District’s Operations.

Assessments

Limited Obligation. The District promises that it will promptly pay the principal of and interest on the Note at the place, on the dates and in the manner provided therein according to the true intent and meaning hereof and thereof; provided that the principal of and interest on the Note is payable solely from the Assessments, and nothing in the

Note or in the Note Resolution shall be construed as pledging any other funds or assets of the District to such payment or authorizing such payment to be made from any other source. The District is not and shall not be liable for the payment of the principal of and interest on the Note or for the performance of any pledge, obligation or agreement for payment undertaken by the District hereunder from any property other than the Assessments. The Bank shall not have any right to resort to legal or equitable action to require or compel the District to levy and collect any tax or special assessment or to keep any tax or special assessment in force, except for the Assessments, to pay principal or interest on the Note.
Pledge of Assessments. The principal of and interest on the Note shall be payable from and secured by a lien upon the Assessments. The District will grant a security interest in favor of the Bank in the Assessments. Promptly upon collection by the District, all Assessments shall be deposited by the Trustee into an account (the "Revenue Account") maintained by the District at the Bank, in which account, and the proceeds therein, the District hereby grants the Bank a security interest in order to secure the repayment of the Note.
Levy of Assessments. The District will levy and assess Assessments upon the benefitted lands within the District in accordance with the Act and the Assessment Resolutions, in amounts and at the times, when combined with the amounts in the Revenue Account and subject to the limitations set forth in the Assessment Resolutions and in the Act, that are sufficient to pay the principal of and interest on the Note as herein provided. It is contemplated that the District shall utilize the uniform method for the collection of the Assessments authorized by Section 197.3632, Florida Statutes for platted lots. However, in the future, the District may, if it is not able to utilize the uniform method for platted lots, with written consent of the Bank, collect the assessments using an alternative method. The District will take all necessary steps to levy and collect Assessments Revenues sufficient to pay the principal and interest of the Note when due.
Use of Assessments. The District will use the proceeds of Assessments levied for debt service solely to pay principal of and interest on the Note, and Collection Costs.

Debt Service
Reserve Fund: The District shall direct the Trustee to maintain a Debt Service Reserve account at the Bank. The Debt Service Reserve account shall be maintained at 8 percent of the outstanding Note. The Debt Service Reserve will be funded at the time of each draw on the Note in the amount of 8 percent to satisfy the requirements for a 8 percent balance calculated on the basis of the outstanding balance on the Note. Amounts of deposit in the Debt Service Reserve account may be invested only in interest bearing accounts of the Bank. The Debt Service Reserve account shall be pledged as security for the Note and the District will grant the Bank a security interest in the Debt Service Reserve account and the amounts therein to secure the Note. For so long as the Note is outstanding, the District may not withdraw amounts from the Debt Reserve account. In the event that at any time the District fails to pay the principal of or interest on the Note as the same becomes due, the Bank may direct the Trustee to withdraw such amount from the Debt Service Reserve account as shall be necessary in order to pay the principal of and interest on the Note as the same becomes due. The Trustee shall notify the District in writing if any such withdrawal is made.

Events of
Default:	An "Event of Default" shall be deemed to have occurred under this Agreement if:
the District shall fail to make any payment of the principal of or interest on the Note after the same shall become due and payable (“Monetary Default”), whether by maturity, or otherwise; or
the District shall default in the performance of or compliance with any term or covenant contained in the Loan Documents, which default or noncompliance shall continue and not be cured within thirty (30) days after (i) notice thereof to the District by the Bank; or (ii) the Bank is notified of such noncompliance or should have been so notified, whichever is earlier. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days; or

any representation or warranty made in writing by or on behalf of the District in any Note Document shall prove to have been false or incorrect in any material respect on the date made or reaffirmed; or
the District admits in writing its inability to pay its debts generally as they become due or files a petition in bankruptcy or makes an assignment for the benefit of its creditors or consents to the appointment of a receiver or trustee for itself; or
the District is adjudged insolvent by a court of competent jurisdiction , or it is adjudged a bankrupt on a petition in bankruptcy filed by or against the District, or an order, judgment or decree is entered by any court of competent jurisdiction appointing, without the consent of the District, a receiver or trustee of the District or of the whole or any part of its property, and if the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within 90 days from the date of entry thereof; or
the District shall file a petition or answer seeking reorganization or any arrangement under the federal bankruptcy laws or any other applicable law or statute of the United States of America or the State of Florida; or
the District shall default in the due and punctual payment or performance of covenants under any obligation for the payment of money to the Bank or any other subsidiary or affiliate of the Bank; or
a judgment or order shall be rendered against the District for the payment of money in excess of $250,000 and such judgment or order shall continue unsatisfied or unstayed for a period of more than 30 days. However, if the District is diligently pursuing a remedy, then the cure period is extended to 90 days.

Monetary Default
Rate:	The “default rate of interest” shall be the lesser of five percentage points over the Bank’s Prime Rate of interest or the maximum legal rate at the time of the Monetary Default. The default rate of interest shall only apply for interest during the period between when the Monetary Default (after noticed cure period), occurs and when it is cured by the District.

Interest Rate
Adjustments: In the event the interest on the Note becomes subject to federal income tax in any period, the interest rate will convert to the taxable rate during that period. The taxable rate will be calculated by dividing the current tax-exempt rate by 1 minus the effective federal tax rate. In addition, the District shall make the Bank whole for any interest, penalties, and additions to tax suffered by the Bank.

In the event the Maximum Federal Corporate Tax Rate imposed on corporations pursuant to Section 11(b) of the Internal Revenue Code of 1986, as amended, is changed, the interest rate on the Note will be adjusted to such rate as will provide the same tax equivalent yield to the Bank. The interest rate on the Note shall be adjusted to the product obtained by multiplying the interest rate then in effect on the Note by a fraction equal to (1-A divided by 1-B), where A equals the Maximum Corporate Tax Rate in effect as of the date of adjustment and B equals the Maximum Corporate Tax Rate in effect immediately prior to the date of adjustment.

Conditions of
Lending:	The obligations of the Bank to lend hereunder are subject to the following conditions precedent:
Documents are and shall be true and correct to the best of the District's knowledge at the time of closing.
On the closing date the District shall be in compliance with all the terms and provisions set forth in the Note Documents on its part to be observed or performed, and no Event of Default nor any event that, upon notice or lapse of time or both, would constitute such an Event of Default, shall have occurred and be continuing at such time.
On or prior to the closing date, the Bank shall have received the following supporting documents, all of which shall be satisfactory in form and substance to the Bank (such satisfaction to be evidenced by the purchase of the Note by the Bank): (i) the opinion of counsel to the District, regarding the due authorization, execution, delivery, validity and enforceability of the Agreement and the Note, the District's power to incur the debt

evidenced by the Note, the due adoption and enforceability of the Note Resolution and Assessment Resolutions and the due creation and existence of the District and to the effect that interest on the Note is excluded from gross income for federal income tax purposes and the Note is exempt from State excise tax on documents, and (ii) such additional supporting documents as the Bank may reasonably request.
No material and adverse changes shall have occurred in the financial condition of the District.
f) The Bank shall not be required to enter into the proposed Credit Accommodation until the completion of all due diligence inquiries (including but not limited to client providing a complete detailed budget of all planned improvements and Bank completing a satisfactory site visit and meeting with largest underlying land owner, Tavistock), receipt of approvals from all requisite parties and the execution and receipt of all necessary documentation reasonably acceptable to the Bank and its counsel. The Bank complies with the US Patriot Act of 2001 (the “Act”), including, but not limited to; those sections relating to customer identification, monitoring and reporting of suspicious activities, and the prevention of money laundering. This Act mandates that we verify certain information about the borrower and any guarantor while processing the Credit Accommodation request. Furthermore, certain assumptions are made for this proposal which, if altered, could affect the overall credit approval and or the terms of the proposed Credit Accommodation.

Waiver of
Jury Trial	District and Bank knowingly, intentionally, and voluntarily waive any right which any of them may have to a trial by jury in connection with any matter directly or indirectly relating to any Note document executed in connection herewith or any other matter arising from the relationship between Bank and District.

Synovus Bank appreciates the opportunity to submit this Proposal and looks forward to your favorable response. Please understand that this letter is not a formal commitment to extend a Note by the Lender, or any of its affiliates, but is merely intended for discussion purposes only in order to provide you with the basic terms and conditions of our proposal, which are outlined above. The terms and conditions outlined in this Proposal are in effect for 30 days from the date of this letter. If you have any questions or need additional information, please do not hesitate to contact me at (239) 552-1819.

Respectfully,

Jim Mitchell, SVP	LeeAnne Kirwin, VP
Director Government Solutions Group	Asst. Director Government Solutions Group Synovus Bank	Synovus Bank
2325 Vanderbilt Beach Road	2325 Vanderbilt Beach Road
Naples, FL 34109	Naples, FL 34109
(239) 552-1819	(239) 552-1879
jimmitchell@synovus.com	leeannkirwin@synovus.com

Agreed to and accepted this 	day of 	, 2020.

BORROWER: Poitras East Community Development District

Signature:	 Name:	 Title:  	

Poitras East Community Development District

Supplemental Assessment Methodology Report for
the Series 2020 Bond Anticipation Note

SUPPLEMENTAL ASSESSMENT METHODOLOGY REPORT
POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

August 2020

Prepared for:

Members of the Board of Supervisors,
Poitras East Community Development District

Prepared on August 17, 2020

PFM Financial Advisors LLC
12051 Corporate Boulevard
Orlando, FL 32817

SUPPLEMENTAL ASSESSMENT METHODOLOGY POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

August 17, 2020

1.0	Introduction

Pursuant to Resolution 2020-12 the Poitras East Community Development District (“District”): (1) adopted its Capital Improvement Program (“CIP”) as described in the “Engineer’s Report and Capital Improvement Program Poitras East Community Development District,” dated May 19, 2020 (“Engineer’s Report”), as prepared by Donald W. McIntosh Associates, Inc. (“District Engineer”); (2) approved the Master Assessment Methodology Report dated May 18, 2020 (“Master Report”); and (3) equalized, approved and levied special assessments on land within the District that receives special benefit from the CIP to pay for the cost of the same.

To fund a portion of the initial phase of the CIP, the District solicited proposals from qualified institutions to provide a Bond Anticipation Draw Note (“BAN”). This Supplemental Assessment Methodology Report (“Supplemental Report”) describes the District’s plan to fund a portion of the initial phase of the CIP using a BAN from Synovus Bank in an amount not-to-exceed $25,000,000 providing for a 4.25% interest rate, providing for a period of capitalized interest, with a term not to exceed 4-years (the “2020 BAN”). The 2020 BAN is a draw down note, so interest is only charged on the loan balance. In addition, the District will pay an “Unused Fee” equal to 0.25% on that portion of the Note that has not been funded. The Unused Fee will be due semi-annually along with interest.

This Supplemental Report applies the assessment methodology of the Master Report to the 2020 BAN.

2.0	Application of the Master Assessment Methodology to the 2020 BAN

If the District approves the 2020 BAN, this would fund a portion of the first phase of the CIP. For reference Table 1 summarizes the development program anticipated for the land in the District.

Table 1. Summary of Poitras East Development Program*

Development Program	Development Volume Non-Residential Development (sq ft)		200,000 Residential Dwelling Units			2,567
Elementary/Middle School	-
  Fire Station	-  
Source: Donald W. McIntosh Associates, Inc.
 	*The Development program is subject to change based on marketing and other conditions

As outlined in the Engineer’s Report, the District will complete the CIP in multiple phases. The estimated costs of the initial and future phase(s) of District infrastructure and improvements (and the estimated costs for the District’s entire CIP) are presented in Table 2. The CIP is being developed as a system of improvements, so regardless of the phase, the CIP costs are shared by the all benefitting properties.

Table 2. Poitras East Capital Improvement Program

Infrastructure Component (1)	Initial Phase, Estimate	Future Phase(s), Estimate	Total Bonds, Estimate	

Roadway Construction	
$14,418,000	
$5,857,000	
$20,275,000	
Potable Water	$2,046,000	$928,000	$2,974,000	
Sanitary Sewer	$2,923,000	$1,326,000	$4,249,000	
Reclaimed Water	$1,462,000	$663,000	$2,125,000	
Duct Bank Underground/Street Lights	$3,215,000	$1,459,000	$4,674,000	
Drainage	$5,262,000	$2,387,000	$7,649,000	
Landscape & Irrigation	$4,092,000	$1,856,000	$5,948,000	
Soft Costs	$3,559,000	$1,547,000	$5,106,000	
Total	$36,977,000	$16,023,000	$53,000,000	
Source: PFM Financial Advisors LLC (Master Report)

The District plans to finance the CIP by issuing multiple series of bonds. Table 3 summarizes the estimated bond financing program as described in the Master Report.

Table 3. Poitras East CDD Bond Financing Program

Bond Fund	Initial Phase, Estimate	Future Phase(s), Estimate	Total Bonds, Estimate	
Construction/Acquisition Fund	$36,977,000	$16,023,000	$53,000,000	
Debt Service Reserve	$3,813,892	$1,663,373	$5,477,265	
Capitalized Interest	$6,552,900	$2,857,950	$9,410,850	
Costs of Issuance (Including Underwriter's Fee)	$1,195,800	$623,400	$1,819,200	
Contingency	$408	$2,277	$2,685	
Total Bonds Principal	$48,540,000	$21,170,000	$69,710,000	
Bonds Details
Average Annual Interest Rate:	

6.75%	

6.75%	

6.75%	
Term (Years):	30	30	30	
Capitalized Interest (Months):	24	24	24	
Net Annual Debt Service:	$3,813,892	$1,663,373	$5,477,265	
Source: PFM Financial Advisors LLC (Master Report)

The methodology described in the Master Report utilizes the equivalent residential unit (“ERU”) approach to allocate the costs of the CIP to the benefitting properties in proportion to the benefits they receive from the CIP. Table 4 (originally included in the Master Report) shows allocation of the costs of the CIP, as financed to the various product types proposed within the District. Table 5 (originally included in the Master Report) shows the annual bond debt service assessments and bond par allocation to the proposed product types within the District necessary to finance the entirety of the CIP

Table 4. Allocation of the Costs of the District’s CIP, as Financed

Development Category	
Unit Type	
Units	
ERU/Unit	
Total ERUs	
% ERUs	
Par Debt	Par Debt/
Unit	
RESIDENTIAL
Isles of Lake Nona - Townhome	

DU	

210	

0.55	

116.4	

4.9%	

$3,399,625	

$16,189	
Isles of Lake Nona - 34s	DU	86	0.67	57.2	2.4%	$1,670,673	$19,426	
Isles of Lake Nona - 50s	DU	133	1.11	147.4	6.2%	$4,306,191	$32,377	
Isles of Lake Nona - 60s	DU	79	1.39	109.5	4.6%	$3,197,266	$40,472	
SE Parcel - 50s	DU	68	1.20	81.3	3.4%	$2,374,532	$34,920	
SE Parcel - 60s	DU	140	1.25	175.0	7.3%	$5,110,957	$36,507	
Laureate Park - Townhome	DU	155	1.00	155.0	6.5%	$4,526,848	$29,205	
Laureate Park - Big House	DU	36	1.10	39.6	1.7%	$1,156,537	$32,126	
Laureate Park - 30s	DU	109	1.15	125.4	5.3%	$3,660,905	$33,586	
Laureate Park - 40s	DU	163	1.20	195.6	8.2%	$5,712,590	$35,047	
Laureate Park - 45s	DU	148	1.30	192.4	8.1%	$5,619,132	$37,967	
Laureate Park - 50s	DU	143	1.40	200.2	8.4%	$5,846,935	$40,888	
Laureate Park - 55s	DU	142	1.50	213.0	8.9%	$6,220,765	$43,808	
Laureate Park - 70s	DU	35	1.65	57.8	2.4%	$1,686,616	$48,189	
Gated - 70s	DU	85	1.65	140.3	5.9%	$4,096,067	$48,189	
Gated - 90s	DU	39	1.90	74.1	3.1%	$2,164,125	$55,490	
N4 West - Townhome	DU	160	1.00	160.0	6.7%	$4,672,875	$29,205	
Multifamily (apts)	DU	306	0.30	91.8	3.8%	$2,681,062	$8,762	
TOTAL RESIDENTIAL	DU	2,237				$68,103,699		
COMMERCIAL								
Retail / Office	SF	110,000	0.0005	55.0	2.3%	$1,606,301	$14.60	
Total Bonds from Program				2,386.9	100.0%	$69,710,000		
Source: PFM Financial Advisors LLC (Master Report)
*The Development program is subject to change based on marketing and other conditions and currently differs from the master plan totals in Table 1

Table 5. Bond Principal and Annual Assessments

Development Category	

Par Debt	

Par Debt/Unit	Annual Net Assessment/
Unit	Total Annual Assessment/
Unit	Gross Assessment/
Unit	Total Gross Assessment/
Unit	
RESIDENTIAL
Isles of Lake Nona - Townhome	

$3,399,625	

$16,189	

$1,271.98	

$267,116	

$1,324.98	

$278,246	
Isles of Lake Nona - 34s	$1,670,673	$19,426	$1,526.38	$131,268	$1,589.98	$136,738	
Isles of Lake Nona - 50s	$4,306,191	$32,377	$2,543.96	$338,347	$2,649.96	$352,445	
Isles of Lake Nona - 60s	$3,197,266	$40,472	$3,179.95	$251,216	$3,312.45	$261,683	
SE Parcel - 50s	$2,374,532	$34,920	$2,743.71	$186,572	$2,858.03	$194,346	
SE Parcel - 60s	$5,110,957	$36,507	$2,868.42	$401,579	$2,987.94	$418,311	
Laureate Park - Townhome	$4,526,848	$29,205	$2,294.74	$355,684	$2,390.35	$370,504	
Laureate Park - Big House	$1,156,537	$32,126	$2,524.21	$90,872	$2,629.39	$94,658	
Laureate Park - 30s	$3,660,905	$33,586	$2,638.95	$287,645	$2,748.90	$299,630	
Laureate Park - 40s	$5,712,590	$35,047	$2,753.68	$448,850	$2,868.42	$467,553	
Laureate Park - 45s	$5,619,132	$37,967	$2,983.16	$441,507	$3,107.46	$459,903	
Laureate Park - 50s	$5,846,935	$40,888	$3,212.63	$459,406	$3,346.49	$478,548	
Laureate Park - 55s	$6,220,765	$43,808	$3,442.10	$488,779	$3,585.53	$509,145	
Laureate Park - 70s	$1,686,616	$48,189	$3,786.32	$132,521	$3,944.08	$138,043	
Gated - 70s	$4,096,067	$48,189	$3,786.32	$321,837	$3,944.08	$335,247	
Gated - 90s	$2,164,125	$55,490	$4,360.00	$170,040	$4,541.67	$177,125	
N4 West - Townhome	$4,672,875	$29,205	$2,294.74	$367,158	$2,390.35	$382,456	
Multifamily (apts)	$2,681,062	$8,762	$688.42	$210,657	$717.11	$219,434	
TOTAL RESIDENTIAL	$68,103,699			$5,351,054		$5,574,015	
COMMERCIAL							
Retail / Office	$1,606,301	$14.60	$1.15	$126,211	$1.20	$131,469	
Total Bonds from Program	$69,710,000			$5,477,265		$5,705,484	
(1) Values include a 4.0% gross-up to account for the statutory early-payment discount. Orange County Property Appraiser and Tax Collector bill district directly on a per lot basis.
Source: PFM Financial Advisors LLC (Master Report)

As described in the Master Report, the District will initially impose assessments on all developable and assessable property within the District to secure the financing of the District’s CIP on a first-platted first- assessed basis. Properties slated for development will first be assigned bond debt service assessments by the District based on the amounts set forth in Table 5. Bond indebtedness remaining to be allocated will initially be assigned on an equal per-acre basis to all developable acreage within the District that has not been developed.

The methodology described in the Master Report includes a True Up mechanism to prevent any buildup of debt on land that has not yet been platted. The mechanism is based on setting a Ceiling Level of debt as the District incurs debt to fund the CIP. The Ceiling Level of debt is established at the time each series of bonds is issued. For example, the District may issue up to $69,710,000 in Bonds to fund the CIP. There are approximately 778 acres of assessable land located within the District as outlined in Table 6 below. Each of these acres will be assigned an equal assessment of the $69,710,000 in remaining unassigned bond debt assessments. Therefore, and assuming for purposes of this illustration that all $69,710,000 in anticipated bond debt is issued by the District to fund its CIP, the Ceiling Level of debt for developable and assessable properties would be $89,602 ($69,710,000/778 acres) per acre. This Ceiling Level is based upon the best information available at the time of this report, is subject to change, and will only be finalized at the time of the District’s first long term bond issuance (which will be used, in part, to refinance the 2020 BAN).

A test will be conducted when 25%, 50%, 75%, 90%, and 100% of the acreage within the District has been platted. The Ceiling Level of debt is determined at the time any District debt issuance is closed. The Ceiling Level is the ratio of the amount of debt outstanding divided by the number of acres of land for which no debt allocation has occurred as per this methodology. Table 6 below illustrates when the true-up test will be applied to determine if debt reduction payments are required.

Table 6. True- Up Thresholds

Category	25%	50%	75%	90%	100%	
Platted Developable Acres	194.5	389.0	583.5	700.2	778.0	
Unplatted Developable Acres	583.5	389.0	194.5	77.8	0.0	
Debt Ceiling per Acre	$89,602	$89,602	$89,602	$89,602	$89,602	
Source: PFM Financial Advisors LLC

In the event that additional land not currently subject to the assessments required to repay the debt associated with the CIP is developed in such a manner as to receive special benefit from the CIP, it is contemplated that the Master Report methodology will be re-applied to include such new parcels. The additional land, as a result of applying this Methodology, will be allocated an appropriate share of the special assessments, with all previously-assessed parcels receiving a relative adjustment in their assessment levels.

If the District approves the 2020 BAN as proposed, the Ceiling Level would be established at $32,134 per acre ($25,000,000/778 acres). All other provisions of the Master Report remain unchanged.

2020 BAN Financing Plan

The District plans to utilize proceeds from the 2020 BAN to fund a portion of the initial phase of the CIP. It is anticipated that prior to or at maturity of the 2020 BAN, the District will issue special assessment revenue bonds to redeem the 2020 BAN. Table 7 summarizes the expected sizing of the 2020 BAN and provides for a hypothetical draw down schedule. The exact draw schedule is not known at this time, and the precise date at which District may choose to pay off the 2020 BAN with future bonds is also unknown, except that it must occur prior to or at maturity of the 2020 BAN. So, the draw schedule and redemption date are provided in Table 7 for illustrative purposes only.

Table 7. BAN Sizing and Draw Schedule (1)

Category	Phase 1	Notes		
Dated Date	9/15/2020	DSR %		
First Draw	9/15/2020	8.0%		
Facility Amount	$25,000,000			
Rate on Facility	4.25%			
Bank Facility Fee @ 0.5%	$125,000			
Bank Counsel Fee	$10,000			
PFM Advisory Fee @ 0.75%	$187,500			
Cost of Issuance

Total Closing Cost	$250,000
========
$572,500			
Date	Balance	Draw	Interest (2)	Unused Fee (2)	Reserve	
9/15/2020	$0	$597,000	$0	$0	$51,913	
10/1/2020	$648,913	$585,000	$0	$0	$50,870	
11/1/2020	$1,284,783	$585,000	$0	$0	$50,870	
12/1/2020	$1,920,652	$585,000	$0	$0	$50,870	
1/1/2021	$2,556,522	$585,000	$0	$0	$50,870	
2/1/2021	$3,192,391	$585,000	$0	$0	$50,870	
3/1/2021	$3,828,261	$585,000	$0	$0	$50,870	
4/1/2021	$4,464,130	$585,000	$0	$0	$50,870	
5/1/2021	$5,100,000	$585,000	$81,443	$49,750	$62,278	
6/1/2021	$5,878,471	$585,000	$0	$0	$50,870	
7/1/2021	$6,514,340	$585,000	$0	$0	$50,870	
8/1/2021	$7,150,210	$585,000	$0	$0	$50,870	
9/1/2021	$7,786,079	$585,000	$0	$0	$50,870	
10/1/2021	$8,421,949	$585,000	$0	$0	$50,870	
11/1/2021	$9,057,818	$585,000	$158,698	$39,855	$68,135	
12/1/2021	$9,909,507	$585,000	$0	$0	$50,870	
1/1/2022	$10,545,377	$585,000	$0	$0	$50,870	

2/1/2022	$11,181,246	$585,000	$0	$0	$50,870	
3/1/2022	$11,817,116	$595,000	$0	$0	$51,739	
4/1/2022	$12,463,855	$595,000	$0	$0	$51,739	
5/1/2022	$13,110,594	$595,000	$244,473	$29,724	$75,582	
6/1/2022	$14,055,373	$595,000	$0	$0	$51,739	
7/1/2022	$14,702,112	$595,000	$0	$0	$51,739	
8/1/2022	$15,348,851	$595,000	$0	$0	$51,739	
9/1/2022	$15,995,590	$595,000	$0	$0	$51,739	
10/1/2022	$16,642,329	$595,000	$0	$0	$51,739	
11/1/2022	$17,289,069	$595,000	$333,035	$19,277	$82,375	
12/1/2022	$18,318,756	$595,000	$0	$0	$51,739	
1/1/2023	$18,965,495	$585,000	$0	$0	$50,870	
2/1/2023	$19,601,364	$585,000	$0	$0	$50,870	
3/1/2023	$20,237,234	$585,000	$0	$0	$50,870	
4/1/2023	$20,873,103	$585,000	$0	$0	$50,870	
5/1/2023	$21,508,973	$585,000	$423,247	$8,728	$88,433	
6/1/2023	$22,614,380	$585,000	$0	$0	$50,870	
7/1/2023	$23,250,249	$585,000	$0	$0	$50,870	
8/1/2023	$23,886,119	$0	$0	$0	$0	
9/1/2023	$23,886,119	$0	$0	$0	$0	
10/1/2023	$23,886,119	$0	$0	$0	$0	
11/1/2023	$23,886,119	$0	$500,824	$2,785	$43,792	
12/1/2023	$24,433,519	$0	$0	$0	$0	
1/1/2024	$24,433,519	$0	$0	$0	$0	
2/1/2024	$24,433,519	$0	$0	$0	$0	
3/1/2024	$24,433,519	$0	$0	$0	$0	
4/1/2024	$24,433,519	$0	$0	$0	$0	
5/1/2024	$24,433,519	$0	$519,212	$1,416	$45,272	
6/1/2024	$24,999,420	$0	$0	$0	$0	
7/1/2024	$24,999,420	$0	$0	$0	$0	
8/1/2024	$24,999,420	$0	$0	$0	$0	
Source: PFM Financial Advisors LLC
Final maturity will not extend more than 12 months past completion of construction funded with BAN subject to max 4-yr term
Per term sheet, interest semi-annually paid in May and November and commences in May 2021; unused fee of 25 bps semi-annually

4.0	Assessment Allocation for the 2020 BAN

As noted above, the District has allocated $69,710,000 in assessments on the 778 gross acres of the lands within the District for a maximum debt per gross acre of $89,602. The 2020 BAN will initially have a lien on all the assessments levied pursuant to Resolution 2020-12. As lands within the District are developed, the allocation of debt per gross acre will be refined as the methodology in the Master Report is applied. Nevertheless, until the initial series of bonds are sold, the 2020 BAN retain the lien on all the assessments. Once the bonds are issued and the 2020 BAN redeemed, the lien would be extinguished.

5.0	Assessment Roll

Table 8 displays the assessment roll reflecting the 2020 BAN of $25,000,000 and maximum annual interest rate on the BAN of 4.25% for 12 months. As described herein, it is contemplated that the 2020 BAN will be redeemed with long-term bonds; accordingly, the District does not anticipate certifying 2020 BAN Principal Assessment for collection. A future supplemental assessment report associated with the issuance of long-term bonds may result in additional assessment as result of the sizing and terms of those to-be-issued bonds. The 2020 BAN Principal and interest may be certified for collection if long- term bonds are not issued.

Table 8. Assessment Roll 2020 BAN

PARCEL ID NO.	SERIES 2020 BAN PRINCIPAL	SERIES 2020 BAN MAXIMUM ANNUAL INTEREST (1)	
31-24-31-0000-00-001 (A PORTION THEREOF)	$20,761,250	$919,118	
32-24-31-7791-01-000	$77,642	$3,437	
32-24-31-7791-00-001	$11,346	$502	
32-24-31-7791-02-000	$102,604	$4,542	
32-24-31-0000-00-014	$77,480	$3,430	
31-24-31-7790-00-001	$39,620	$1,754	
31-24-31-7790-01-000	$128,840	$5,704	
31-24-31-7790-02-000	$59,418	$2,631	
31-24-31-0000-00-003	$1,204,115	$53,307	
32-24-31-3890-00-010	$14,514	$643	
32-24-31-3890-00-020	$14,514	$643	
32-24-31-3890-00-030	$11,611	$514	
32-24-31-3890-00-040	$11,611	$514	
32-24-31-3890-00-050	$11,611	$514	
32-24-31-3890-00-060	$6,967	$308	
32-24-31-3890-00-070	$6,967	$308	
32-24-31-3890-00-080	$6,967	$308	
32-24-31-3890-00-090	$6,967	$308	
32-24-31-3890-00-100	$6,967	$308	
32-24-31-3890-00-110	$6,967	$308	
32-24-31-3890-00-120	$5,806	$257	
32-24-31-3890-00-130	$5,806	$257	
32-24-31-3890-00-140	$5,806	$257	
32-24-31-3890-00-150	$5,806	$257	

32-24-31-3890-00-160	$5,806	$257	
32-24-31-3890-00-170	$5,806	$257	
32-24-31-3890-00-180	$5,806	$257	
32-24-31-3890-00-190	$5,806	$257	
32-24-31-3890-00-200	$5,806	$257	
32-24-31-3890-00-210	$5,806	$257	
32-24-31-3890-00-220	$5,806	$257	
32-24-31-3890-00-230	$5,806	$257	
32-24-31-3890-00-240	$5,806	$257	
32-24-31-3890-00-250	$5,806	$257	
32-24-31-3890-00-260	$5,806	$257	
32-24-31-3890-00-270	$5,806	$257	
32-24-31-3890-00-280	$5,806	$257	
32-24-31-3890-00-290	$5,806	$257	
32-24-31-3890-00-300	$5,806	$257	
32-24-31-3890-00-310	$5,806	$257	
32-24-31-3890-00-320	$5,806	$257	
32-24-31-3890-00-330	$5,806	$257	
32-24-31-3890-00-340	$5,806	$257	
32-24-31-3890-00-350	$5,806	$257	
32-24-31-3890-00-360	$5,806	$257	
32-24-31-3890-00-370	$5,806	$257	
32-24-31-3890-00-380	$5,806	$257	
32-24-31-3890-00-390	$5,806	$257	
32-24-31-3890-00-400	$5,806	$257	
32-24-31-3890-00-410	$5,806	$257	
32-24-31-3890-00-420	$5,806	$257	
32-24-31-3890-00-430	$5,806	$257	
32-24-31-3890-00-440	$5,806	$257	
32-24-31-3890-00-450	$5,806	$257	
32-24-31-3890-00-460	$5,806	$257	
32-24-31-3890-00-470	$5,806	$257	
32-24-31-3890-00-480	$5,806	$257	
32-24-31-3890-00-490	$5,806	$257	
32-24-31-3890-00-500	$5,806	$257	
32-24-31-3890-00-510	$5,806	$257	
32-24-31-3890-00-520	$5,806	$257	
32-24-31-3890-00-530	$5,806	$257	
32-24-31-3890-00-540	$5,806	$257	
32-24-31-3890-00-550	$5,806	$257	
32-24-31-3890-00-560	$5,806	$257	
32-24-31-3890-00-570	$5,806	$257	
32-24-31-3890-00-580	$5,806	$257	
32-24-31-3890-00-590	$5,806	$257	
32-24-31-3890-00-600	$5,806	$257	
32-24-31-3890-00-610	$5,806	$257	
32-24-31-3890-00-620	$5,806	$257	
32-24-31-3890-00-630	$5,806	$257	
32-24-31-3890-00-640	$6,967	$308	
32-24-31-3890-00-650	$6,967	$308	

32-24-31-3890-00-660	$6,967	$308	
32-24-31-3890-00-670	$6,967	$308	
32-24-31-3890-00-680	$6,967	$308	
32-24-31-3890-00-690	$6,967	$308	
32-24-31-3890-00-700	$6,967	$308	
32-24-31-3890-00-710	$6,967	$308	
32-24-31-3890-00-720	$6,967	$308	
32-24-31-3890-00-730	$6,967	$308	
32-24-31-3890-00-740	$5,806	$257	
32-24-31-3890-00-750	$5,806	$257	
32-24-31-3890-00-760	$5,806	$257	
32-24-31-3890-00-770	$5,806	$257	
32-24-31-3890-00-780	$5,806	$257	
32-24-31-3890-00-790	$5,806	$257	
32-24-31-3890-00-800	$5,806	$257	
32-24-31-3890-00-810	$5,806	$257	
32-24-31-3890-00-820	$6,967	$308	
32-24-31-3890-00-830	$6,967	$308	
32-24-31-3890-00-840	$6,967	$308	
32-24-31-3890-00-850	$6,967	$308	
32-24-31-3890-00-860	$6,967	$308	
32-24-31-3890-00-870	$6,967	$308	
32-24-31-3890-00-880	$6,967	$308	
32-24-31-3890-00-890	$6,967	$308	
32-24-31-3890-00-900	$6,967	$308	
32-24-31-3890-00-910	$6,967	$308	
32-24-31-3890-00-920	$6,967	$308	
31-24-31-3891-00-930	$6,967	$308	
31-24-31-3891-00-940	$6,967	$308	
31-24-31-3891-00-950	$6,967	$308	
31-24-31-3891-00-960	$6,967	$308	
31-24-31-3891-00-970	$6,967	$308	
31-24-31-3891-00-980	$6,967	$308	
31-24-31-3891-00-990	$6,967	$308	
31-24-31-3891-01-000	$6,967	$308	
31-24-31-3891-01-010	$6,967	$308	
31-24-31-3891-01-020	$6,967	$308	
31-24-31-3891-01-030	$6,967	$308	
31-24-31-3891-01-040	$6,967	$308	
31-24-31-3891-01-050	$6,967	$308	
31-24-31-3891-01-060	$6,967	$308	
31-24-31-3891-01-070	$6,967	$308	
31-24-31-3891-01-080	$6,967	$308	
31-24-31-3891-01-090	$11,611	$514	
31-24-31-3891-01-100	$11,611	$514	
31-24-31-3891-01-110	$11,611	$514	
31-24-31-3891-01-120	$11,611	$514	
31-24-31-3891-01-130	$11,611	$514	
31-24-31-3891-01-140	$11,611	$514	
31-24-31-3891-01-150	$11,611	$514	

32-24-31-3890-01-160	$11,611	$514	
32-24-31-3890-01-170	$11,611	$514	
32-24-31-3890-01-180	$11,611	$514	
32-24-31-3890-01-190	$11,611	$514	
32-24-31-3890-01-200	$11,611	$514	
32-24-31-3890-01-210	$11,611	$514	
32-24-31-3890-01-220	$11,611	$514	
32-24-31-3890-01-230	$11,611	$514	
32-24-31-3890-01-240	$11,611	$514	
32-24-31-3890-01-250	$11,611	$514	
32-24-31-3890-01-260	$11,611	$514	
32-24-31-3890-01-270	$11,611	$514	
32-24-31-3890-01-280	$11,611	$514	
32-24-31-3890-01-290	$11,611	$514	
32-24-31-3890-01-300	$11,611	$514	
32-24-31-3890-01-310	$11,611	$514	
32-24-31-3890-01-320	$11,611	$514	
32-24-31-3890-01-330	$11,611	$514	
32-24-31-3890-01-340	$11,611	$514	
32-24-31-3890-01-350	$5,806	$257	
32-24-31-3890-01-360	$5,806	$257	
32-24-31-3890-01-370	$5,806	$257	
32-24-31-3890-01-380	$5,806	$257	
32-24-31-3890-01-390	$5,806	$257	
32-24-31-3890-01-400	$5,806	$257	
32-24-31-3890-01-410	$5,806	$257	
32-24-31-3890-01-420	$5,806	$257	
32-24-31-3890-01-430	$5,806	$257	
32-24-31-3890-01-440	$5,806	$257	
32-24-31-3890-01-450	$5,806	$257	
32-24-31-3890-01-460	$5,806	$257	
32-24-31-3890-01-470	$5,806	$257	
32-24-31-3890-01-480	$5,806	$257	
32-24-31-3890-01-490	$5,806	$257	
32-24-31-3890-01-500	$5,806	$257	
32-24-31-3890-01-510	$5,806	$257	
32-24-31-3890-01-520	$5,806	$257	
32-24-31-3890-01-530	$5,806	$257	
32-24-31-3890-01-540	$5,806	$257	
31-24-31-3892-01-550	$14,514	$643	
31-24-31-3892-01-560	$14,514	$643	
31-24-31-3892-01-570	$14,514	$643	
31-24-31-3892-01-580	$14,514	$643	
31-24-31-3892-01-590	$14,514	$643	
31-24-31-3892-01-600	$14,514	$643	
31-24-31-3892-01-610	$14,514	$643	
31-24-31-3892-01-620	$14,514	$643	
31-24-31-3892-01-630	$14,514	$643	
31-24-31-3892-01-640	$14,514	$643	
31-24-31-3892-01-650	$14,514	$643	

31-24-31-3892-01-660	$14,514	$643	
31-24-31-3892-01-670	$14,514	$643	
31-24-31-3892-01-680	$14,514	$643	
31-24-31-3892-01-690	$14,514	$643	
31-24-31-3892-01-700	$14,514	$643	
31-24-31-3892-01-710	$14,514	$643	
31-24-31-3892-01-720	$14,514	$643	
31-24-31-3892-01-730	$14,514	$643	
31-24-31-3892-01-740	$14,514	$643	
31-24-31-3892-01-750	$14,514	$643	
31-24-31-3892-01-760	$14,514	$643	
31-24-31-3892-01-770	$14,514	$643	
31-24-31-3892-01-780	$14,514	$643	
31-24-31-3892-01-790	$14,514	$643	
31-24-31-3892-01-800	$14,514	$643	
31-24-31-3892-01-810	$14,514	$643	
31-24-31-3892-01-820	$14,514	$643	
31-24-31-3892-01-830	$14,514	$643	
31-24-31-3892-01-840	$14,514	$643	
31-24-31-3892-01-850	$11,611	$514	
31-24-31-3892-01-860	$11,611	$514	
31-24-31-3892-01-870	$11,611	$514	
31-24-31-3892-01-880	$11,611	$514	
31-24-31-3892-01-890	$11,611	$514	
31-24-31-3892-01-900	$11,611	$514	
31-24-31-3892-01-910	$11,611	$514	
31-24-31-3892-01-920	$11,611	$514	
31-24-31-3892-01-930	$11,611	$514	
31-24-31-3892-01-940	$11,611	$514	
31-24-31-3892-01-950	$11,611	$514	
31-24-31-3892-01-960	$11,611	$514	
31-24-31-3892-01-970	$11,611	$514	
31-24-31-3892-01-980	$11,611	$514	
31-24-31-3892-01-990	$11,611	$514	
31-24-31-3892-02-000	$11,611	$514	
31-24-31-3892-02-010	$11,611	$514	
31-24-31-3892-02-020	$11,611	$514	
31-24-31-3892-02-030	$11,611	$514	
31-24-31-3892-02-040	$11,611	$514	
31-24-31-3892-02-050	$11,611	$514	
31-24-31-3892-02-060	$11,611	$514	
31-24-31-3892-02-070	$11,611	$514	
31-24-31-3892-02-080	$14,514	$643	
31-24-31-3892-02-090	$14,514	$643	
31-24-31-3892-02-100	$14,514	$643	
31-24-31-3892-02-110	$14,514	$643	
31-24-31-3892-02-120	$14,514	$643	
31-24-31-3892-02-130	$14,514	$643	
31-24-31-3892-02-140	$14,514	$643	
31-24-31-3892-02-150	$14,514	$643	

31-24-31-3892-02-160	$14,514	$643	
31-24-31-3892-02-170	$14,514	$643	
31-24-31-3892-02-180	$14,514	$643	
31-24-31-3892-02-190	$14,514	$643	
31-24-31-3892-02-200	$14,514	$643	
31-24-31-3892-02-210	$14,514	$643	
31-24-31-3892-02-220	$14,514	$643	
31-24-31-3892-02-230	$14,514	$643	
31-24-31-3892-02-240	$14,514	$643	
31-24-31-3892-02-250	$14,514	$643	
31-24-31-3892-02-260	$14,514	$643	
31-24-31-3892-02-270	$14,514	$643	
31-24-31-3892-02-280	$14,514	$643	
31-24-31-3892-02-290	$14,514	$643	
31-24-31-3892-02-300	$14,514	$643	
31-24-31-3892-02-310	$14,514	$643	
31-24-31-3892-02-320	$14,514	$643	
31-24-31-3892-02-330	$14,514	$643	
31-24-31-3892-02-340	$14,514	$643	
31-24-31-3892-02-350	$14,514	$643	
31-24-31-3892-02-360	$14,514	$643	
31-24-31-3892-02-370	$14,514	$643	
31-24-31-3892-02-380	$14,514	$643	
31-24-31-3892-02-390	$11,611	$514	
31-24-31-3892-02-400	$11,611	$514	
31-24-31-3892-02-410	$11,611	$514	
31-24-31-3892-02-420	$11,611	$514	
31-24-31-3892-02-430	$11,611	$514	
31-24-31-3892-02-440	$11,611	$514	
31-24-31-3892-02-450	$11,611	$514	
31-24-31-3892-02-460	$11,611	$514	
31-24-31-3892-02-470	$11,611	$514	
31-24-31-3892-02-480	$11,611	$514	
31-24-31-3892-02-490	$11,611	$514	
31-24-31-3892-02-500	$11,611	$514	
31-24-31-3892-02-510	$11,611	$514	
31-24-31-3892-02-520	$11,611	$514	
31-24-31-3892-02-530	$11,611	$514	
31-24-31-3892-02-540	$11,611	$514	
31-24-31-3892-02-550	$11,611	$514	
31-24-31-3892-02-560	$11,611	$514	
31-24-31-3892-02-570	$11,611	$514	
31-24-31-3892-02-580	$11,611	$514	
31-24-31-3892-02-590	$11,611	$514	
31-24-31-3892-02-600	$11,611	$514	
TOTAL	$25,000,000	$1,106,771	
Values include a 4.0% gross-up to account for the statutory early-payment discount. Orange County Property Appraiser and Tax Collector bill district directly on a per lot basis.
Source: PFM Financial Advisors LLC

Poitras East Community Development District

Resolution 2020-15,
Setting Forth the Terms of the Series 2020 Note; Confirming the Engineer’s Report; Confirming and Adopting the Supplemental Assessment Methodology Report; Confirming, Allocating, and Authorizing the Collection of Special Assessments Securing the Series 2020 Note

RESOLUTION 2020-15

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT’S BOND ANTICIPATION NOTE, SERIES 2020; CONFIRMING THE DISTRICT’S PROVISION OF INFRASTRUCTURE IMPROVEMENTS AND ADOPTING AN ENGINEER’S REPORT; CONFIRMING AND ADOPTING A SUPPLEMENTAL ASSESSMENT REPORT; CONFIRMING, ALLOCATING AND AUTHORIZING THE COLLECTION OF SPECIAL ASSESSMENTS SECURING 2020 NOTE; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENT TO THE IMPROVEMENT LIEN BOOK; PROVIDING FOR THE RECORDING OF A NOTICE OF SERIES 2020 SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE

WHEREAS, the Poitras East Community Development District (the “District”) has previously indicated its intention to undertake, install, establish, construct or acquire certain public infrastructure improvements (“Capital Improvement Plan”) and to finance such public infrastructure improvements through the imposition of special assessments on benefitted property within the District and the issuance of bonds, notes or other indebtedness; and

WHEREAS, the District’s Board of Supervisors (the “Board”) has previously adopted, after notice and public hearing, Resolution 2020-12, relating to the imposition, levy, collection and enforcement of such special assessments; and

WHEREAS, pursuant to and consistent with the terms of Resolution 2020-12, this Resolution shall set forth the terms of bond anticipation notes actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with a series of notes and the terms of the notes issue; and

WHEREAS, on August 18, 2020, the Board adopted Resolution 2020-14, authorizing  the issuance of a secured note by the District to Synovus Bank (“Synovus”) in an aggregate principal amount not to exceed $25,000,000 for the purpose of funding a portion of the District’s Capital Improvement Plan; and

WHEREAS, Synovus has provided a letter to the District, dated, July 9, 2020, setting forth its agreement to issue a secured note to the District in an aggregate principal amount not exceeding $25,000,000 for the purpose of funding a portion of the construction and/or acquisition of the District’s Capital Improvement Plan, and the terms and conditions thereof, a copy of which letter is attached hereto as Exhibit A (“Term Sheet”); and

WHEREAS, pursuant to and consistent with Resolution 2020-12, the District desires to set forth the particular terms of the sale of its not-to-exceed $25,000,000 Poitras East Community Development District Special Assessment Revenue Bond Anticipation Note, Series 2020 (the “2020 Note”) to be issued pursuant to that certain Master Trust Indenture, as supplemented by that certain First Supplemental Trust Indenture both dated August 1, 2020 (together, the “Indenture”), and confirm the lien of the special assessments securing the 2020 Note (the “2020 Assessments”).

NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AS FOLLOWS:

SECTION 1.	AUTHORITY  FOR  THIS RESOLUTION; DEFINITIONS.	This
Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170 and 197, Florida Statutes, and Resolution 2020-12. Any capitalized terms not otherwise defined herein shall have the meanings as provided in the Indenture.

SECTION 2. FINDINGS. The Board of Supervisors of the Poitras East Community Development District hereby finds and determines as follows:

On May 19, 2020, the District, after due notice and public hearing, adopted Resolution 2020-12, which, among other things, equalized, approved, confirmed and levied special assessments on property benefitting from the infrastructure improvements authorized by the District. That Resolution provided that as each series of bonds or other financial instrument was issued to fund all or any portion of the District’s infrastructure improvements, a supplemental resolution would be adopted to set forth the specific terms of the bonds or other financial instrument and certifying the amount of the lien of the special assessments securing any portion of the bonds or financial instrument, including interest, costs of issuance, the number of payments due, the True-Up amounts and the application of receipt of True-Up proceeds.

The Engineer’s Report and Capital Improvement Program, dated May 19, 2020, attached to this Resolution as Exhibit B (the “Engineer’s Report”), identifies and describes the master Capital Improvement Plan for the lands within the District, and sets forth that portion of the Capital Improvement Plan anticipated to be financed with the 2020 Note (the “Improvements”). The District hereby confirms that the Improvements serve a proper, essential and valid public purpose. The Engineer’s Report is hereby confirmed. The District ratifies its  use in connection with the sale of the 2020 Note.

The Supplemental Assessment Methodology Report, dated August  , 2020, attached   to this Resolution as Exhibit C (the “Supplemental Assessment Report”), applies the Master Assessment Methodology Report, dated May 18, 2020 (the “Master Assessment Report”) to the actual terms of the 2020 Note. The Supplemental Assessment Report is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the 2020 Note.

The Improvements will specially benefit all of the gross acreage within the District, as set forth in the Supplemental Assessment Report. It is reasonable, proper, just and right to assess the portion of the costs of the Improvements financed with the 2020 Note to the specially benefited properties within the District as set forth in Resolution 2020-12, the Supplemental Assessment Methodology, and this Resolution.

SECTION  3.	CONFIRMATION OF ASSESSMENT LIEN FOR 2020 NOTE; TERMS OF THE 2020 NOTE.

As provided in Resolution 2020-12, this Resolution is intended to set forth the terms of the 2020 Note and the final amount of the lien of the special assessments securing those notes. The 2020 Note, a draw-down revolving note in a principal amount not exceeding $25,000,000, shall bear the following rates of interest which shall be due on each May 1 and November 1, commencing on May 1, 2021: (i) on amounts advanced under the 2020 Note, 4.25% (“Tax- Exempt Rate”); and (ii) on the average daily amount of the 2020 Note which is undisbursed and uncanceled during the preceding period, 0.25% (“Unused Fee”). The term of the 2020 Note  shall  be through [ 	, 2024], at which point the principal amount shall by repaid. Notwithstanding the foregoing, and as set forth in the Term Sheet, the following additional interest rates may apply to the Tax-Exempt Rate of the 2020 Note:

In the event of a Monetary Default, the default rate of interest shall be the lesser of (a) 500 basis points over the Prime Rate or (b) the maximum rate permitted by law at the time of the Monetary Default. The default rate of interest shall only apply for interest during the period between when the Monetary Default occurs (beginning ten (10) calendar days after the occurrence of the Monetary Default and no cure by the District) and when it is cured by the District.

In the event the interest on the 2020 Note becomes subject to federal income tax in any period, the interest rate will convert to the taxable rate during that period. The taxable rate will be calculated by dividing the current Tax-Exempt Rate divided by 1 minus the then maximum federal corporate income tax rate applicable to Synovus. In addition, the District shall make Synovus whole for any interest, penalties, and additions to tax suffered by Synovus.

In the event the Maximum Federal Corporate Tax Rate imposed on corporations pursuant to Section 11(b) of the Internal Revenue Code of 1986, as amended, is decreased from the current rate of 35%, the interest rate on the 2020 Note will be changed to the rate equal to the product obtained by multiplying the interest rate then in effect on the 2020 Note by a fraction equal to (1-A divided by 1-B), where A equals the maximum corporate tax rate in effect as of the date of adjustment and B equals the maximum corporate tax rate in effect immediately prior to the date of the

adjustment; provided, however, that this rate shall in no event be lower than 3.75%.

The 2020 Note will be secured by the 2020 Assessments which are levied and imposed on all benefitted, assessable land within the District, and shall equal the principal amount due on the 2020 Note, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection, if applicable. Assessed properties will be released from the lien of the 2020 Assessments at the time and in the manner set forth in the Supplemental Assessment Report.

SECTION 4. ALLOCATION OF ASSESSMENTS SECURING 2020 NOTE.

The 2020 Assessments for the 2020 Note shall be allocated in accordance with Exhibit C which allocation shall initially be on a per acre basis and further allocated as lands are platted. The Supplemental Assessment Report is consistent with the District’s Master Assessment Report. The Supplemental Assessment Report, considered herein, reflects the actual terms of the issuance of the District’s 2020 Note. The estimated costs of collection of the special assessments for the 2020 Note are as set forth in the Supplemental Assessment Report.

The lien of the 2020 Assessments securing the 2020 Note includes all benefitted, assessable lands within the District, and as such land is ultimately defined and set forth in plats or other designations of developable acreage. To the extent land is added to the District and  made subject to the master assessment lien described in the Master Assessment Report, the District may, by supplemental resolution at a regularly noticed meeting and without the need for a public hearing on reallocation, determine such land to be benefited by the Improvements and reallocate the 2020 Assessments securing the 2020 Note in order to impose 2020 Assessments on the newly added and benefited property.

The District hereby certifies the 2020 Assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Orange County for collection and other Florida law. The District intends to directly collect the 2020 Assessments on, unless otherwise directed by Synovus pursuant to the Indenture. The decision to collect 2020 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 2020 Assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices. The District Manager shall prepare or cause to be prepared a tax roll for purposes of effecting the collection of the 2020 Assessments and present same to the District Board as required by law.

The District Manager is further directed and authorized to take all actions necessary to collect any prepayments of debt as and when due and to collect special assessments on property using methods available to the District authorized by Florida law.

SECTION 5. APPLICATION OF TRUE-UP PAYMENTS. Pursuant to Resolution 2020-12,  there  may  be required  from  time  to time certain True-Up payments.	As lands are

platted or approved for development, the 2020 Assessments securing the 2020 Note shall be allocated to the platted lands and the unplatted lands as set forth in Resolution 2020-12, this Resolution, and the Supplemental Assessment Report, including, without limitation, the application of the True-Up process set forth in Section 8 of Resolution 2020-12. Based on the final principal amount of not exceeding $25,000,000 in 2020 Note, the True-Up calculations will be made in accordance with the process set forth in the Master Assessment Report. The District shall apply all True-Up payments related to the 2020 Note only to the credit of the 2020 Note. All True-Up payments, as well as all other prepayments of 2020 Assessments, shall be deposited into the accounts specified in the Indenture.

SECTION 6. IMPROVEMENT LIEN BOOK.  Immediately following the adoption  of this Resolution these 2020 Assessments as reflected herein shall be recorded by the Secretary of the Board of the District in the District’s Improvement Lien Book. The 2020 Assessments against each respective parcel shall be and shall remain a legal, valid and binding first lien on such parcel until paid and such lien shall be coequal with the lien of all state, county, district, municipal or other governmental taxes and superior in dignity to all other liens, titles, and claims.

SECTION  7.  OTHER  PROVISIONS  REMAIN IN EFFECT.	This  Resolution is
intended to supplement Resolution 2020-12, which remains in full force and effect. This Resolution and Resolution 2020-12 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record a Notice of Series 2020 Special Assessments (Bond Anticipation Note, Series 2020) securing the 2020 Note in the Official Records of Orange County, Florida, or such other instrument evidencing the actions taken by the District.

SECTION 9. SEVERABILITY. If any section or part of a section of this resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.

SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

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PASSED AND ADOPTED this 18th day of August, 2020.

ATTEST:	BOARD OF SUPERVISORS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

Secretary	Chairman

Exhibit A:	Term Sheet, dated July 9, 2020
Exhibit B:	Engineer’s Report and Capital Improvement Program, dated May 19, 2020
Exhibit C:	Supplemental Assessment Methodology Report dated August , 2020

Exhibit A

Term Sheet

Exhibit B

Engineers Report

Exhibit C

Supplemental Assessment Report

Poitras East Community Development District

Agreement by and between the District and TDCP, LLC Regarding the Completion of Certain Improvements

AGREEMENT BY AND BETWEEN THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AND TDCP, LLC, REGARDING THE COMPLETION OF CERTAIN IMPROVEMENTS

THIS AGREEMENT (“Agreement”) is made and entered into this 18th day of August, 2020, by and between:

Poitras East Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located within the City of Orlando, Florida (the “District”); and

TDCP, LLC, a Florida limited liability company, the owner of certain lands within the District, whose address is 6900 Tavistock Lakes Boulevard, Suite 200, Orlando, Florida 32827 (the “Landowner”; together with the District, the “Parties”).

RECITALS

WHEREAS, the District was established by ordinance adopted by the City Counsel for the City of Orlando, Florida, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”), and is validly existing under the Constitution and laws of the State of Florida; and

WHEREAS, the Act authorizes the District to issue bonds for the purpose, among others, of planning, financing, constructing, operating and/or maintaining certain infrastructure, including roadways improvements, stormwater management systems, potable and reclaimed water and sewer systems, electrical and street light conduit, recreational facilities and amenities and other infrastructure within or without the boundaries of the District; and

WHEREAS, the Landowner is currently the owner of certain lands within the District (the “Development”); and

WHEREAS, the District has adopted an improvement plan to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services as detailed in the Engineer’s Report and Capital Improvement Project dated May 19, 2020 (the “Master Engineer’s Report”) attached to this Agreement as Exhibit A (“Master Project”), and the anticipated costs of the Master Project described in the Engineer’s Report are identified in Table 1 of the Master Engineer’s Report; and

WHEREAS, the District has imposed special assessments on the property within the District to secure financing for the construction of the Master Project described in Exhibit A, and has validated $69,710,000 in special assessment revenue bonds to fund the planning, design, permitting, construction and/or acquisition of improvements in the Master Project; and

WHEREAS, the District intends to finance all or a portion of the Master Project through the use of proceeds from its proposed issuance of Poitras East Community Development District

Special Assessment Revenue Bonds, which may be issued in one or more series (the “Bonds”); and

WHEREAS, in anticipation of the issuance of its initial series of Bonds (“2020 Bonds”) and in order to provide interim funds to the District to finance the Series 2020 Project (hereinafter defined), the District presently intends to issue not to exceed $25,000,000 Special Assessment Revenue Bond Anticipation Note, Series 2020 (the “Series 2020 Note”), to fund a portion of the Master Project (the “Series 2020 Project”) as further described in the Master Engineer’s Report and levy special assessments for the repayment of the Series 2020 Note (the “Note Assessments”), as further detailed in that certain Master Assessment Methodology Report dated May 18, 2020 (the “Master Assessment Report”), as supplemented by the Supplemental Assessment Methodology Report dated August 17, 2020 (the “2020 Assessment Report,” and together with the Master Assessment Report, the “Assessment Report”); and

WHEREAS, in order to ensure that the improvements for the entire Master Project are completed and funding is available in a timely manner to provide for their completion, the Landowner and the District hereby agree that, in exchange for the District agreeing to use its proceeds from the Series 2020 Note to construct certain improvements described in the Master Engineer’s Report including, but not limited to, the Master Project, should the Series 2020 Note proceeds be insufficient to complete the Master Project, the Landowner will make provision for such funds that may be needed for the completion of the Master Project as currently contemplated in the Engineer’s Report, including, but not limited to, all reasonable and customary administrative, legal, warranty, engineering, permitting or other related soft costs.

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the District and the Landowner agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Agreement.

COMPLETION OF IMPROVEMENTS. The Landowner and District agree and acknowledge that the District intends to issue the Series 2020 Note that will provide only a portion of the funds necessary to complete the Master Project. Therefore, as more particularly set forth in paragraphs 2(a) and 2(b) below, the Landowner hereby agrees to complete, cause to be completed, provide funds or cause funds to be provided to the District in an amount sufficient to allow the District to complete or cause to be completed, those portions of the Master Project which remain unfunded including, but not limited to, all reasonable and customary administrative, legal, warranty, engineering, permitting or other related soft costs (the “Remaining Improvements”) whether pursuant to existing contracts, including change orders thereto, or future contracts. Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness to provide funds for any portion of the Remaining Improvements. The District and Landowner hereby acknowledge and agree that the District’s execution of this Agreement constitutes the manner and means by which the District has elected to provide any and all portions of the Remaining Improvements not funded by District bonds or other indebtedness.

When all or any portion of the Remaining Improvements are the subject of a District contract, the Landowner shall provide funds or cause funds to be provided directly to the District in an amount sufficient to complete the Remaining Improvements pursuant to such contract, including change orders thereto, upon written notice from the District.

When any portion of the Remaining Improvements is not the subject of a District contract, the Landowner may choose to: (a) complete, cause to be completed, provide funds or cause funds to be provided to the District in an amount sufficient to allow the District to complete or cause to be completed, those Remaining Improvements; or (b) have the District enter into a contract and proceed under Section 2(a) above, subject, in each case to a formal determination by the District’s Board of Supervisors that the option selected by the Landowner will not adversely impact the District, and is in the District’s best interests.

The parties agree that any funds provided by Landowner to fund the Remaining Improvements may be later payable from, and the District’s acquisition of the Remaining Improvements may be payable from, the proceeds of a future issuance of Bonds by the District (i.e., other than the Series 2020 Note) (“Prior Acquisitions”). The District agrees to pursue the issuance of the Bonds in good faith, and, within thirty (30) days from the issuance of such Bonds, to make payment for any Prior Acquisitions completed pursuant to the terms of that certain Acquisition and Advanced Funding Agreement dated August 18, 2020; provided, however, that in the event bond counsel determines that any such Prior Acquisitions are not properly compensable for any reason, including, but not limited to, federal tax restrictions imposed on tax-exempt financing, the District shall not be obligated to make payment for such Prior Acquisitions. Interest shall not accrue on the amounts owed for any Prior Acquisitions. Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness to provide funds for any portion of the Remaining Improvements. In the event the District does not or cannot issue the Bonds within six (6) years from the date of this Agreement, and, thus does not make payment to the Landowner for the Prior Acquisitions, then the Parties agree that the District shall have no reimbursement obligation whatsoever. The Landowner acknowledges that the District intends to convey some or all of the District Improvements in the Master Engineer’s Report to Orange County, Florida, the City of Orlando, Orlando Utilities Commission, and/or other unit of local government and consents to the District’s conveyance of such improvements prior to payment for any Prior Acquisitions.

OTHER CONDITIONS AND ACKNOWLEDGMENTS RELATING TO THE COMPLETION OF IMPROVEMENTS

The District and the Landowner agree and acknowledge that the exact location, size, configuration and composition of the Master Project may change from that described in the Master Engineer’s Report, depending upon final design of the Development, permitting or other regulatory requirements over time, or other factors. Material changes to the Master Project shall be made by a written amendment to the Master

Engineer’s Report, which shall include an estimate of the cost of the changes and shall be subject to Landowner’s review and consent, which shall not be unreasonably withheld.

The District and Landowner agree and acknowledge that any and all portions of the Remaining Improvements which are constructed, or caused to be constructed, by the Landowner shall be conveyed to the District or such other appropriate unit of local government as is designated in the Master Engineer’s Report or required by governmental regulation or development approval. All conveyances to another governmental entity shall be in accordance with and in the same manner as provided in any agreement between the District and the appropriate unit of local government.

Notwithstanding anything to the contrary contained in this Agreement, the payment or performance by Landowner of its obligations hereunder is expressly subject to, dependent and conditioned upon (a) the issuance of the Series 2020 Note and use of the proceeds thereof to fund a portion of the Master Project, and (b) the scope, configuration, size and/or composition of the Master Project not materially changing without the consent of the Landowner. In the event of a material change to the scope, configuration, size and/or composition of the Master Project in response to a requirement imposed by a regulatory agency, the Landowner shall not consent to same without a certificate from the District Engineer that such material change to the scope, configuration, size and/or composition of the Master Project does not adversely impact the Series 2020 Project.

DEFAULT AND PROTECTION AGAINST THIRD PARTY INTERFERENCE. A default by either Party under this Agreement, which continues for a period of thirty (30) days after notice of such default, shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of actual damages injunctive relief, and/or, if applicable, specific performance, but excluding punitive and consequential damages and subject to the recourse limitations in the documents applicable to the District and the Bonds. 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.

ENFORCEMENT OF AGREEMENT. In the event that either of the Parties is required to enforce this Agreement by court proceedings or otherwise, then the Parties agree that the prevailing Party shall be entitled to recover from the other all fees and costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

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 Landowner.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Landowner, both the District and the Landowner have complied with all the requirements of law, and both the District and the

Landowner have full power and authority to comply with the terms and provisions of this instrument.

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 Parties, as follows:

A.	If to the District:	Poitras	East	Community	Development District
		12051 Corporate Boulevard
Orlando, Florida 32817 Attn: District Manager	
	With a copy to:	Hopping Green & Sams, P.A.
119 South Monroe Street, Suite 300
Tallahassee, Florida 32301 Attn: Tucker F. Mackie	
B.	If to the Landowner:	TDCP, LLC
6900 Tavistock Lakes Boulevard, Suite 200
Orlando, Florida 32827
Attn:  		

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 Landowner may deliver Notice on behalf of the District and the Landowner. 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.

ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Landowner as an arm’s length transaction. Both Parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, both Parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either the District or the Landowner.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the District and the Landowner 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 Landowner 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 Landowner and their respective representatives, successors, and assigns.

ASSIGNMENT. Neither the District nor the Landowner may assign this Agreement or any monies to become due hereunder without the prior written approval of the other.

APPLICABLE LAW AND VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each Party consents that the venue for any litigation arising out of or related to this Agreement shall be in Orange County, Florida.

EFFECTIVE DATE. This Agreement shall be effective upon the later of the execution by the District and the Landowner.

PUBLIC RECORDS. The Landowner understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and treated as such in accordance with Florida law.

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.

LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

FORCE MAJEURE. If any Party hereto shall be delayed in, hindered in or prevented from performing any of its obligations under this Agreement by reason of labor disputes, inability to obtain any necessary materials or services, acts of God, weather conditions that are unusually severe or exceed average conditions for that time of year, persistent inclement weather, war, terrorist acts, insurrection, delays caused by governmental permitting or regulations, the time for performance of such obligation shall be automatically extended (on a day for day basis) for a period equal to the period of such delay.

HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

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. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

PUBLIC RECORDS. Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records, and, accordingly, Developer agrees to comply with all applicable provisions of Florida law in handling such records, including but not limited to section 119.0701, Florida Statutes. Developer acknowledges that the designated public records custodian for the District is Victoria Martinez (“Public Records Custodian”). Among other requirements and to the extent applicable by law, the Developer 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 Developer 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 Developer’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 Developer, the Developer 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 DEVELOPER HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE DEVELOPER’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 723-5900, MARTINEZV@PFM.COM, OR 12051 CORPORATE BOULEVARD, ORLANDO, FLORIDA 32817.

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IN WITNESS WHEREOF, the Parties execute this Agreement the day and year first written above.

Attest:	POITRAS EAST COMMUNITY
DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	By:  	
Its:  	

TDCP, LLC, a Florida limited liability company

By:  	

Witness	Print Name:  	
Title:  	

Exhibit A:	Engineer’s Report and Capital Improvement Project dated May 19, 2020

Poitras East Community Development District

Acquisition and Advanced Funding Agreement

ACQUISITION AND ADVANCED FUNDING AGREEMENT

THIS ACQUISITION AND ADVANCED FUNDING AGREEMENT (“Agreement”) is made and entered into, by and between:

Poitras East Community Development District, a local unit of special‐purpose government established pursuant to Chapter 190, Florida Statutes, and located within the City of Orlando, Florida (the “District”); and

TDCP, LLC, a Florida limited liability company, the owner of certain lands within the District, whose address is 6900 Tavistock Lakes Boulevard, Suite 200, Orlando, Florida 32827 (the “Developer”; together with the District, the “Parties”).

RECITALS

Whereas, the District was established by ordinance adopted by the City Counsel for the City of Orlando, Florida, pursuant to the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes, as amended (the “Act”), and is validly existing under the Constitution and laws of the State of Florida; and

Whereas, the Act authorizes the District to issue bonds for the purpose, among others, of planning, financing, constructing, operating and/or maintaining certain infrastructure, including roadways improvements, stormwater management systems, potable and reclaimed water and sewer systems, electrical and street light conduit, recreational facilities and amenities and other infrastructure within or without the boundaries of the District; and

WHEREAS, the Developer is the primary owner of certain lands in unincorporated Orange County, Florida (“County”), located within the boundaries of the District; and

WHEREAS, the District presently intends to finance the planning, design, acquisition, construction, and installation of certain infrastructure improvements, facilities, and services known as the “Project” and as detailed in the Engineer’s Report and Capital Improvement Project dated May 19, 2020, as may be revised (“Engineer’s Report”), attached to this Agreement as Exhibit A; and

WHEREAS, the District intends to finance all or a portion of the Project through the use of proceeds from future special assessment revenue bonds (“Bonds”); and

WHEREAS, the District has not had sufficient monies on hand to allow the District to contract directly for: (i) the preparation of the surveys, testing, reports, drawings, plans, permits, specifications, and related documents necessary to complete the Project (“Work Product”); or (ii) construction and/or installation of the improvements comprising the Project (“Improvements”); and

WHEREAS, the District acknowledges the Developer’s need to commence development of the lands within the District in an expeditious and timely manner; and

WHEREAS, in order to avoid a delay in the commencement of the development of the Work Product and/or the Improvements, the Developer has advanced, funded, commenced, and completed and/or will complete certain of the Work Product and/or Improvements; and

WHEREAS, the Developer and the District are entering into this Agreement to set forth the process by which the District may acquire the Work Product, the Improvements, and any related real property interests (“Real Property”) and in order to ensure the timely provision of the infrastructure and development.

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which are hereby acknowledged, the District and the Developer agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated as a material part of this Agreement.

ADVANCED FUNDING. Prior to the issuance of the Bonds, the Developer agrees to make available to the District such monies as are necessary to enable the District to proceed with, and expedite, the design, engineering, and construction of the Project. The Developer will make such funds available on a monthly basis, within fifteen (15) days of a written request by the District. The funds (“Advanced Funds”) shall be placed in the District's depository as determined by the District, and shall be repaid to the Developer solely from available proceeds of the Bonds, subject to the terms of this Agreement. The District shall individually account for costs incurred and Advanced Funds expended in connection with the Project.

WORK PRODUCT AND IMPROVEMENTS. The parties agree to cooperate and use good faith and best efforts to undertake and complete the acquisition process contemplated by this Agreement on such date or dates as the parties may jointly agree upon (each, an “Acquisition Date”). Subject to any applicable legal requirements (e.g., but not limited to, those laws governing the use of proceeds from tax exempt bonds), and the requirements of this Agreement, the District agrees to acquire completed Work Product and Improvements that are part of the Project.

Request for Conveyance and Supporting Documentation – When Work Product or Improvements are ready for conveyance by the Developer to the District, the Developer shall notify the District in writing, describing the nature of the Work Product and/or Improvement and estimated cost. Additionally, Developer agrees to provide, at or prior to the Acquisition Date, the following: (i) documentation of actual costs paid, (ii) instruments of conveyance such as bills of sale or such other instruments as may be requested by the District, and (iii) any other releases, warranties, indemnifications or documentation as may be reasonably requested by the District.

Costs – Subject to any applicable legal requirements (e.g., but not limited to, those laws governing the use of proceeds from tax exempt bonds), the availability of proceeds from the Bonds, and the requirements of this Agreement, the District shall pay the lesser of (i) the actual cost creation/construction of the Work Product or Improvements, and (ii) the fair market value of the Work Product or Improvements. The Developer shall provide copies of any and all invoices, bills, receipts, or other evidence of costs incurred by the Developer for any Work Product and/or Improvements. The District Engineer shall review all evidence of cost and shall certify to the District’s Board of Supervisors (“Board”) whether the cost being paid is the

lesser of (i) the actual cost of creation/construction of the Work Product or Improvements, and (ii) the fair market value of the Work Product or Improvements. The District Engineer’s opinion as to cost shall be set forth in an Engineer’s Certificate which shall accompany the requisition for the funds from the District’s Trustee for the Bonds (“Trustee”).

Conveyances on “As Is” Basis. Unless otherwise agreed, all conveyances of Work Product and/or Improvements shall be on an “as is” basis. That said, the Developer agrees to assign, transfer and convey to the District any and all rights against any and all firms or entities which may have caused any latent or patent defects, including, but not limited to, any and all warranties and other forms of indemnification.

Right to Rely on Work Product and Releases – The Developer agrees to release to the District all right, title, and interest which the Developer may have in and to any Work Product conveyed hereunder, as well as all common law, statutory, and other reserved rights, including all warranties and copyrights in the Work Product and extensions and renewals thereof under United States law and throughout the world, and all publication rights and all subsidiary rights and other rights in and to the Work Product in all forms, mediums, and media, now known or hereinafter devised. To the extent determined necessary by the District, the Developer shall reasonably obtain all releases from any professional providing services in connection with the Work Product to enable the District to use and rely upon the Work Product. The District agrees to allow the Developer access to and use of the Work Product without the payment of any fee by the Developer. However, to the extent the Developer’s access to and use of the Work Product causes the District to incur any cost or expense, such as copying costs, the Developer agrees to pay such cost or expense.

Transfers to Third Party Governments; Payment for Transferred Property – If any item acquired is to be conveyed to a third‐party governmental body, then the Developer agrees to cooperate and provide such certifications, documents, bonds, warranties, and/or forms of security as may be required by that governmental body, if any. Further, the District and the Developer agree that it can be difficult to timely effect the turnover of infrastructure from the Developer to the District and then to a third‐party governmental entity, and, accordingly, the District and the Developer recognize and agree that the parties shall make reasonable efforts to transfer such Work Product and/or Improvements to the District pursuant to the terms of this Agreement. Regardless, and subject to the terms of this Agreement, the District has the obligation to acquire all such Work Product and/or Improvements described in the Engineer’s Report that is intended to be turned over to a third party governmental entity, and, in the event that the Developer transfers any such Work Product and/or Improvements to a third party governmental entity prior to the District’s acquisition of the Work Product and/or Improvements, the District shall be obligated to pay for such Work Product and/or Improvements, subject to the terms of this Agreement, and subject to ensuring that such acquisition and payment would not affect the tax‐ exempt status of the Bonds.

Permits – The Developer agrees to cooperate fully in the transfer of any permits to the District or a governmental entity with maintenance obligations for any Improvements conveyed pursuant to this Agreement.

Engineer’s Certification – The District shall accept any completed Work Product and/or Improvements where the District Engineer (or other consulting engineer reasonably acceptable to the District), in his/her professional opinion, is able to certify that, in addition to any other requirements of law: (i) the Work Product and/or Improvements are part of the Project; (ii) the price for such Work Product and/or Improvements did not exceed the lesser of the cost of the Work Product and/or Improvements or the fair market value of the Work Product and/or Improvements;
(iii) as to Work Product, the Work Product is capable of being used for the purposes intended by the District, and, as to any Improvements, the Improvements were installed in accordance with their specifications, and are capable of performing the functions for which they were intended; and (iv) as to any Improvements, all known plans, permits and specifications necessary for the operation and maintenance of the Improvements are complete and on file with the District, and have been transferred, or are capable of being transferred, to the District for operations and maintenance responsibilities.

CONVEYANCE OF REAL PROPERTY. The Developer agrees that it will convey to the District at or prior to the applicable Acquisition Date as determined solely by the District, by a special warranty deed or other instrument acceptable to the Board together with a metes and bounds or other description, the Real Property upon which any Improvements are constructed or which are necessary for the operation and maintenance of, and access to, the Improvements.

Cost. The parties agree that all Real Property shall be provided to the District at no cost, unless (i) the costs for the Real Property are expressly included as part of the Project, as described in the Engineer’s Report, and (ii) the purchase price for the Real Property is the lesser of the appraised value of the Real Property, based on an appraisal obtained by the District for this purpose, or the cost basis of the Real Property to the Developer. The parties agree that the purchase price shall not include amounts attributable to the value of improvements on the Real Property and other improvements serving the Real Property that have been, or will be, funded by the District.

Fee Title and Other Interests – The District may determine in its reasonable discretion that fee title for Real Property is not necessary and in such cases shall accept such other interest in the lands upon which the Improvements are constructed as the District deems acceptable.

Developer Reservation – Any conveyance of Real Property hereunder by special warranty deed or other instrument shall be subject to a reservation by Developer of its right and privilege to use the area conveyed to construct any Improvements and any future improvements to such area for any related purposes (including, but not limited to, construction traffic relating to the construction of the development) not inconsistent with the District’s use, occupation or enjoyment thereof.

Fees, Taxes, Title Insurance – The Developer shall pay the cost for recording fees and documentary stamps required, if any, for the conveyance of the lands upon which the Improvements are constructed. The Developer shall be responsible for all taxes and assessments levied on the lands upon which the Improvements are constructed until such time as the Developer conveys all said lands to the District. At the time of conveyance, the Developer shall provide, at its expense, an owner’s title insurance policy or other evidence of title in a form satisfactory to the District.

Boundary Adjustments – Developer and the District agree that reasonable future boundary adjustments may be made as deemed necessary by both parties in order to accurately describe lands conveyed to the District and lands which remain in Developer’s ownership. The parties agree that any land transfers made to accommodate such adjustments shall be accomplished by donation. However, the party requesting such adjustment shall pay any transaction costs resulting from the adjustment, including but not limited to taxes, title insurance, recording fees or other costs. Developer agrees that if a court or other governmental entity determines that a re‐platting of the lands within the District is necessary, Developer shall pay all costs and expenses associated with such actions.

TAXES, ASSESSMENTS, AND COSTS.

Taxes and Assessments on Property Being Acquired. The District is an exempt governmental unit acquiring property pursuant to this Agreement for use exclusively for public purposes. Accordingly, in accordance with Florida law, the Developer agrees to place in escrow with the County tax collector an amount equal to the current ad valorem taxes and non‐ad valorem assessments (with the exception of those ad valorem taxes and non‐ad valorem assessments levied by the District) prorated to the date of transfer of title, based upon the expected assessment and millage rates giving effect to the greatest discount available for early payment.

If and only to the extent the property acquired by the District is subject to ad valorem taxes or non‐ad valorem assessments, the Developer agrees to reimburse the District for payment, or pay on its behalf, any and all ad valorem taxes and non‐ad valorem assessments imposed during the calendar year in which each parcel of property is conveyed.

Nothing in this Agreement shall prevent the District from asserting any rights to challenge any taxes or assessments imposed, if any, on any property of the District.

Notice. The parties agree to provide notice to the other within thirty (30) calendar days of receipt of any notice of potential or actual taxes, assessments, or costs, as a result of any transaction pursuant to this Agreement, or notice of any other taxes, assessments, or costs imposed on the property acquired by the District as described in subsection a. above. The Developer covenants to make any payments due hereunder in a timely manner in accord with Florida law. In the event that the Developer fails to make timely payment of any such taxes, assessments, or costs, the Developer acknowledges the District’s right to make such payment. If the District

makes such payment, the Developer agrees to reimburse the District within thirty (30) calendar days of receiving notice of such payment, and to include in such reimbursement any fees, costs, penalties, or other expenses which accrued to the District as a result of making such a payment, including interest at the maximum rate allowed by law from the date of the payment made by the District.

Tax liability not created. Nothing herein is intended to create or shall create any new or additional tax liability on behalf of the Developer or the District. Furthermore, the parties reserve all respective rights to challenge, pay under protest, contest or litigate the imposition of any tax, assessment, or cost in good faith they believe is unlawfully or inequitably imposed and agree to cooperate in good faith in the challenge of any such imposition.

ACQUISITIONS AND BOND PROCEEDS. The District may in the future, and in its sole discretion, elect to issue Bonds that may be used to finance portions of work acquired hereunder, as well as reimburse Advanced Funds. In the event that the District issues the Bonds and has bond proceeds available to pay for any portion of the Project acquired by the District, or any Advanced Funds, and subject to the terms of the applicable documents relating to the Bonds, then the District shall promptly make payment for any such acquired Work Product, Improvements or Real Property, or reimbursable Advanced Funds, pursuant to the terms of this Agreement; provided, however, that no such obligation shall exist where the Developer is in default on the payment of any debt service assessments due on any property owned by the Developer, or is in default under any agreements between the Developer and the District, or, further, in the event the District’s bond counsel determines that any such acquisitions or payments for Advanced Funds are not properly compensable for any reason, including, but not limited to federal tax restrictions imposed on tax‐exempt financing, the District shall not be obligated to make payment for such acquisitions, or Advanced Funds. Interest shall not accrue on any amounts owed for any prior acquisitions, or Advanced Funds. In the event the District does not or cannot issue sufficient bonds within five (5) years from the date of this Agreement to pay for all acquisitions hereunder, and Advanced Funds, and, thus does not make payment to the Developer for any unfunded acquisitions, or any unreimbursed Advanced Funds, then the parties agree that the District shall have no payment or reimbursement obligation whatsoever for those unfunded acquisitions, or unreimbursed Advanced Funds. The Developer acknowledges that the District may convey some or all of the Work Product and/or Improvements in the Engineer’s Report to a general purpose unit of local government (e.g., the County) and consents to the District’s conveyance of such Work Product and/or Improvements prior to any payment being made by the District.

CONTRIBUTIONS. In connection with the issuance of the Bonds, the District may levy debt service special assessments to secure the repayment of Bonds. As may be described in more detail in assessment methodologies approved by the District, the Developer may request that such debt service special assessments be reduced for certain product types. To accomplish any such requested reduction, and pursuant to the terms of this Agreement, the Developer agrees to provide a contribution of infrastructure, work product and/or land based on appraised value, comprising a portion of the Project and to meet the minimum requirements set forth in the Assessment Report, if any. Any such contributions shall not be eligible for payment hereunder.

DEFAULT. 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 and/or specific performance. Any default under an applicable trust indenture for the Bonds caused by

the Developer and/or its affiliates shall be a default hereunder, and the District shall have no obligation to fund the capital improvement plan in the event of such a default. Notwithstanding the foregoing, neither the District nor the Developer shall be liable for any consequential, special, indirect or punitive damages due to a default hereunder. Prior to commencing any action for a default hereunder, the party seeking to commence such action shall first provide written notice to the defaulting party of the default and an opportunity to cure such default within 30 days.

ATTORNEYS’ FEES AND COSTS. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all fees and costs incurred, including reasonable attorneys’ fees and costs for trial, alternative dispute resolution, or appellate proceedings.

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 Developer.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Developer; both the District and the Developer have complied with all the requirements of law; and both the District and the Developer have full power and authority to comply with the terms and provisions of this instrument.

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 parties, at the addresses first set forth above. 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 Developer may deliver Notice on behalf of the District and the Developer, respectively. 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.

ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Developer as an arm’s length transaction. Both parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, both parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either the District or the Developer.

THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the District and the Developer 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 Developer 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 Developer and their respective representatives, successors, and assigns.

Notwithstanding the foregoing, the Trustee, acting at the direction of the bondholders owning a majority of the aggregate principal amount of the Bonds then outstanding, shall have the right to directly enforce the provisions of this Agreement. The Trustee shall not be deemed to have assumed any obligations under this Agreement. This Agreement may not be assigned or materially amended without the consent of the Trustee, acting at the direction of the bondholders owning a majority of the aggregate principal amount of the Bonds then outstanding, which consent shall not be unreasonably withheld.

ASSIGNMENT. Neither the District nor the Developer may assign this Agreement or any monies to become due hereunder without the prior written approval of the other.

APPLICABLE LAW AND VENUE. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida. Each party consents that the venue for any litigation arising out of or related to this Agreement shall be in Orange County, Florida.

PUBLIC RECORDS. The Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement may be public records and treated as such in accordance with Florida law.

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.

LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other law, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred by sovereign immunity or by other operation of law.

HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.

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. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

[THIS SPACE INTENTIONALLY LEFT BLANK]

WHEREFORE, the parties below execute the Acquisition and Advanced Funding Agreement to be effective as of the 18th day of August, 2020.

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

By:  	
Its:  	

TDCP, LLC, a Florida limited liability company

By:  	
Its:  	

Exhibit A:	Engineer’s Report and Capital Improvement Project dated May 19, 2020

Poitras East Community Development District

Notice of Series 2020 Assessments

This space reserved for use by the Clerk of the Circuit Court

This Instrument Prepared by and return to:

Tucker F. Mackie,  Esq. HOPPING GREEN & SAMS, P.A.
Post Office Box 6526 Tallahassee, Florida 32314

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT NOTICE OF SERIES 2020 SPECIAL ASSESSMENTS
(BOND ANTICIPATION NOTE, SERIES 2020) AND GOVERNMENT LIEN OF RECORD

NOTICE IS HEREBY GIVEN that the Board of Supervisors of the Poitras East Community Development District (the “District”), a special purpose local government established under and pursuant to Chapter 190, Florida Statutes, enjoys a governmental lien on certain lands contained within the real property described in Exhibit A attached hereto (the “Property”). Such lien is coequal with the lien of all state, county, district and municipal taxes, superior in dignity to all other liens, titles and claims until paid pursuant to Section 170.09, Florida Statutes. The District has adopted Resolution Numbers 2020-02, 2020-03, 2020-12, and 2020-15 (the “Resolutions”), which provide for, levy, and set forth the terms of the non-ad valorem special assessments on the Property (the “2020 Assessments”), which is specifically benefitted by the improvements financed with the proceeds of the District’s Bond Anticipation Note, Series 2020 (the “2020 Note”). The 2020 Note is secured by the 2020 Note Assessments. As provided in the Resolutions, these non- ad valorem assessments do not apply to governmental properties dedicated by plats, deeds or otherwise, including rights of way.
The non-ad valorem special assessments provided for in the Resolutions were legally and validly determined and levied in accordance with all applicable requirements of Florida law, and

these non-ad valorem special assessments constitute and will at all relevant times in the future constitute legal, valid, and binding first liens on the land against which assessed until paid, coequal with the lien of all state, county, district, and municipal taxes, and superior in dignity to all other liens, titles, and claims. The District may collect assessments on any of the lands described in the attached Exhibit A by any method authorized by law, which method may change from year to year.
Pursuant to Section 190.048, Florida Statutes, you are hereby notified that: THE DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH TAXES AND ASSESSMENTS, ON THE PROPERTY. THESE TAXES AND ASSESSMENTS PAY THE CONSTRUCTION, OPERATION, AND MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES AND ASSESSMENTS AND ALL OTHER TAXES AND
ASSESSMENTS PROVIDED FOR BY LAW. The District’s lien secures the payment of special assessments levied in accordance with Florida Statutes, which special assessments in turn secure the payment of the 2020 Note. Copies of the Supplemental Assessment Methodology Report for the Poitras East Community Development District’s Bond Anticipation Note, Series 2020, dated August , 2020, and the Resolutions may be obtained from the registered agent of the District as designated by the Florida Department of Economic Opportunity in accordance with Section 189.014, Florida Statutes, or by contacting the District at:
Poitras East Community Development District c/o PFM Group Consulting, LLC
12051 Corporate Blvd
Orlando, Florida 32817

THE LIEN FOR THE SPECIAL ASSESSMENTS IS STATUTORY AND NO FILING IS NECESSARY IN ORDER TO PERFECT OR PROVIDE RECORD NOTICE THEREOF. THIS NOTICE IS FOR INFORMATION PURPOSES. IN ADDITION TO THE MINUTES, RECORDS AND OTHER MATERIAL OF THE DISTRICT AVAILABLE FROM THE DISTRICT, AND THE RECORDS OF THE CITY OF ORLANDO CREATING THE DISTRICT, THIS ALSO CONSTITUTES A LIEN OF RECORD FOR PURPOSES OF SECTION 197.573 OF THE FLORIDA STATUTES AND ALL OTHER APPLICABLE PROVISIONS OF THE FLORIDA STATUTES AND ANY OTHER APPLICABLE LAW.
IN WITNESS WHEREOF, this Notice has been executed as of the day of August, 2020, and recorded in the Official Records of Orange County, Florida.
POITRAS	EAST	COMMUNITY DEVELOPMENT DISTRICT

By: 	
 	, Chairman

Witness	Witness

Print Name	Print Name

STATE OF FLORIDA COUNTY OF ORANGE

The foregoing instrument was acknowledged before me by means of  physical presence or     online notarization this         day of 	, 2020, by 	, Chairman of the Poitras East Community Development District, who is    personally known to me or          who has produced 		as identification.

(NOTARY SEAL)

Notary Public, State of Florida

Exhibit A

Legal Description

Poitras East Community Development District

Acquisition of Luminary Boulevard 1A Right of Way and Discussion Regarding Appraisal

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Poitras East Community Development District

Revision to Engineer’s Report and Capital Improvement Program

ENGINEER’S REPORT AND CAPITAL IMPROVEMENT PROGRAM

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

May 19, 2020
Revised August 12, 2020

FOR

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

ORLANDO, FLORIDA

BY:

DONALD W. McINTOSH ASSOCIATES, INC.
2200 PARK AVENUE NORTH WINTER PARK, FL 32789

ENGINEER’S REPORT AND CAPITAL IMPROVEMENT PROGRAM

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

BACKGROUND
The POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT (District)
was established under City of Orlando Ordinance No. 2018-38 adopted by the City Council with an effective date of July 9, 2018. It is located on approximately 1,061 acres of land. As of the date of this report, all real property located within the District is owned by TDCP, LLC, who will act as the Master Developer (Developer) of the property, and Pulte Home Company, LLC. The District has been created as a unit of special-purpose government to construct, acquire, finance and maintain certain necessary public infrastructure improvements as described herein. This Engineer’s Report and Capital Improvement Program (Report) has been prepared at the request of the District.

The District is generally located east of Boggy Creek Road, south of State Road 417 (the “Central Florida Greeneway”), west of Narcoossee Road, and south of Lake Nona in the City of Orlando, Florida as depicted on attached Exhibit “A.” The lands within the District are currently encompassed within the Poitras East Planned Development (PD), which was approved by the City of Orlando on December 10, 2018. Roughly 778 acres within the District are considered developable for residential, commercial and institutional uses as approved in the Poitras East PD. A map of the District is included as Exhibit “B.”

The Capital Improvement Program (CIP) included herein reflects the proposed improvements within the currently approved District boundary and

miscellaneous off-site improvements, which will be discussed later in this Report.

As represented by the Developer, the currently contemplated Master Plan represents development of public infrastructure improvements to support a development program of approximately:
200,000 sq. ft. of retail, restaurant and other non-residential uses;
2,567 residential dwelling units;
Elementary/Middle school (Kindergarten – 8th grade);
Fire station
Minor revisions to the currently contemplated development program can be implemented if consistent with the City-approved Planned Development. Ultimate build-out is presently expected to occur over an estimated period of ten (10) years.

OBJECTIVE
This Report has been prepared to assist with the financing and construction of various necessary public infrastructure improvements contemplated to be constructed, acquired and/or installed to provide safe and adequate access, utilities, etc. within the District. This Report presents a narrative description of the major components included within the infrastructure systems and current Engineer’s opinions of probable costs for completing the District-related improvements necessary to support the development of the lands located within the District. The CIP is anticipated to be implemented in phases and includes:

Initial Phase
Luminary Boulevard (Phase 1) - a ±7,900-foot long 4-lane divided roadway with three roundabouts extending westerly from Narcoossee Road to Centerline Drive Extension
Centerline Drive Extension (Segment G) - a ±1,300-foot long 2-lane roadway, ±750 feet of which extends northerly from a roundabout on Luminary Boulevard to the northern District boundary and ±550 feet of which extends outside of the District, continuing northerly to the proposed southern terminus of Centerline Drive (Segment F) within the adjacent Greeneway Improvement District in Lake Nona
Selten Way - a ±2,100-foot long 2-lane roadway running northerly from a roundabout on Luminary Boulevard to a new roundabout to be constructed by the District on Laureate Boulevard, with the connection to Laureate Boulevard lying outside of the District within the adjacent Greeneway Improvement District in Lake Nona
Street A (Phase 1) - a ±1,900-foot long 2-lane roadway running southerly from a roundabout on Luminary Boulevard, with a future planned extension to Boggy Creek Road
Turn lane improvements and traffic signal improvements located outside of the District at the intersection of Luminary Boulevard and Narcoossee Road to accommodate dual northbound left turn lanes and a continuous southbound right turn lane along the commercial frontage
Two (2) sanitary sewage lift stations and associated force mains

Approximately 4,200 linear feet of off-site force main improvements running generally parallel to Narcoossee Road and extending northerly to Tavistock Lakes Boulevard

Future Phase
Luminary Boulevard (Phase 2) - a ±950-foot long 4-lane divided roadway running from the roundabout at Centerline Drive to Jim Branch Creek, including 50% of the cost of a bridge crossing of Jim Branch Creek, the balance of which is anticipated to be borne by development on the west side of the creek
Centerline Drive Extension (Segment H) - a ±3,400-foot long 2-lane roadway, ±2,900 feet of which extends southerly from the roundabout on Luminary Boulevard to the southern District boundary and ±500 feet of which extends outside of the District and continues to intersect with Boggy Creek Road in Osceola County
Street A (Phase 2) - a ±1400-foot long 2-lane roadway extending southerly from the southerly terminus of Street A (Phase 1) to Boggy Creek Road in Osceola County
Turn lane improvements and potential traffic signal improvements located outside of the District at the intersections of Centerline Drive and Street A with Boggy Creek Road
One (1) sanitary sewage lift station and associated force main

The CIP reflected in this Report represents the present intentions of the Developer and the District. The implementation of any CIP discussed in this plan requires final approval by many regulatory and permitting agencies including the City of Orlando. The actual improvements described herein may vary from the CIP discussed in this Report. If additional improvements not

described herein are identified, this Report may be amended to reflect such additional improvements.

Engineer’s opinions of probable costs contained in this Report have been prepared based on the Engineer’s opinion and interpretation of the best available information at this time. The actual costs of construction, engineering design, planning, approvals and permitting may vary from the cost opinions presented herein.

TRANSPORTATION IMPROVEMENTS
Several new roadways are required to develop the District. The roadway improvements comprising the primary roadway infrastructure include approximately nineteen thousand (19,000) linear feet of roads, including one major east-west roadway and three (3) north-south roadways that will provide ingress and egress throughout the District, interconnectivity with adjacent development, and connectivity with additional collector roads that will serve future residential, commercial, and support development within the District. Approximately one thousand fifty (1,050) linear feet of these roads will be constructed outside of the District boundaries for regional connectivity with the Lake Nona transportation infrastructure to the north and the Osceola County roadway system to the south.

The primary roadway infrastructure includes those roadways necessary to provide safe and adequate access to the lands within the District. A graphic depiction of these primary roadways is set forth in Exhibit “C.” Sheet 1 of Exhibit “C” contains a depiction of improvements listed above as “Initial Phase” construction. Sheet 2 of Exhibit “C” includes a depiction of the “Future Phase” construction.

All roads constructed by the District will be public roadways and are proposed to be constructed using asphalt concrete surface with curb sections and sidewalks. Some will have on-street parking, asphalt trails and/or bicycle paths. Luminary Boulevard, Centerline Drive and Selten Way will include landscaped parkways and/or medians while Street A is intended to be more urban in nature. The roads constructed by the District will ultimately be owned, operated and maintained by the City of Orlando; however, the District will maintain the landscaping and irrigation within the City rights-of-way. In addition to the roads constructed by the District, public alleys constructed by the Developer will be dedicated to the City of Orlando for ownership and operation; however, maintenance of these alleys is anticipated to be shared between the City of Orlando and the District, with the District’s maintenance responsibility being limited to the asphalt pavement within the alleys.

In addition to roadways, the District also intends to undertake improvements that will facilitate enhanced and/or alternative mobility solutions, including but not limited to shared mobility lanes, dedicated rights-of-way, recovery zones for user equipment repairs, rest and hydration, a head-end mobility hub, sheltered waiting areas, upgrading of existing pedestrian and bicycle paths, naturally shaded and streetscaped environments, wayfinding, etc.

The   Developer   has   obtained   approval   for   funding   under   the   BUILD Transportation Discretionary Grant program, which may help to offset some costs that would normally be expected to be borne by the District; however, the potential effect of BUILD Grant funding has not been factored into the estimated costs included in this report. The Developer is also pursuing potential transportation impact fee credits that may be available to offset the costs of transportation infrastructure; however, the applicability and amount are

uncertain so they have not been factored into the estimated infrastructure costs included in this report.

An allowance has been included for the cost to acquire the right-of-way required to construct the necessary roadway improvements. The actual value of the right-of-way will be determined by appraisal and approved by the District’s Board of Supervisors prior to acquisition at a cost not to exceed the appraised value. For the purposes of this report and based on guidance from the Developer, the District’s monetary cost for right-of-way is assumed to be
$85,000.00 per acre and is utilized for the estimates presented herein.

POTABLE WATER, RECLAIMED WATER, & SANITARY SEWER FACILITIES
The potable water distribution system for the District will include a potable water main extension that connects to the Orlando Utilities Commission (OUC) water mains in Narcoossee Road and in Centerline Drive. Distribution mains will run generally within the primary roadway corridors described above with the objective that the potable water distribution system will serve as a source of potable water and fire protection water for all of the development within the District. The potable water facilities constructed by the District will ultimately be owned, operated and maintained by the Orlando Utilities Commission.

The reclaimed water distribution system for the District will include a reclaimed water main extension that connects to the City of Orlando reclaimed water mains in Narcoossee Road and in Centerline Drive. Like the potable water mains, the reclaimed water distribution mains will run generally within the primary roadway corridors described above with the objective that the reclaimed water distribution system will ultimately serve as a source of non- potable (irrigation) water for all of the development within the District. The

District will only fund the operating cost of providing reclaimed water to District-owned common areas and landscaped right-of-way areas. The reclaimed water facilities constructed by the District will ultimately be owned, operated and maintained by the City of Orlando.

The sanitary sewer system for the District includes three wastewater lift stations and the associated sanitary sewer force mains. This system will initially connect to an existing 12-inch Orange County Utilities (OCU) force main in Narcoossee Road but will provide for a future connection to a new force main to be constructed parallel to Narcoossee Road extending northerly from the District to Tavistock Lakes Boulevard, where it will connect to a planned force main extension to be constructed by OCU. Based on available information, the cost of this parallel force main is anticipated to be borne by the District and is therefore included in the District’s CIP. Two of the lift stations (LS-B and LS-C) are included in the Initial Phase of the CIP while the remaining lift station (LS-D) is included as a Future Phase improvement. These sanitary sewer facilities, along with contributing gravity sewer collection systems, will act as the wastewater collection and transmission systems for all development within the District. The sanitary sewer facilities constructed by the District will ultimately be owned, operated and maintained by Orange County or the District.

ELECTRICAL DUCT BANK AND STREET LIGHT CONDUIT
The infrastructure roadway corridors will accommodate a plastic pipe duct bank system and plastic pipe street light conduits, manholes and pull boxes. This duct bank system and conduit network will enable the efficient distribution of electric power provided by Orlando Utilities Commission (OUC) to the development, including power to the street lights. The proposed duct bank system will run within the rights-of-way or easements established for the primary roadway corridors and be placed as part of the initial roadway

construction to significantly limit the amount of disruption required to provide these needed services as development progresses. Street light conduit and the street light network are also intended to be completed concurrent with the roadway construction. Off-site connections to the OUC transmission facilities will occur around the project boundary at strategic locations to be defined by OUC. These duct bank and conduit systems are included in the CIP. The electrical duct banks and conduits constructed by the District will ultimately be owned, operated and maintained by the Orlando Utilities Commission.

STORMWATER MANAGEMENT AND DRAINAGE FACILITIES
To enable construction of the public infrastructure improvements required to support the District, a site-wide master stormwater management system will be implemented. This master stormwater management system will consist of a series of surface water retention/detention ponds enabling treatment and attenuation of stormwater runoff from development within the District. The surface water retention/detention ponds will be constructed by the Developer; therefore, this CIP does not include costs for those improvements. Drainage works consisting of roadway inlets, collector pipes, manholes, outfall pipes, etc. to be constructed within the proposed infrastructure roadways will collect stormwater runoff and convey it to the master stormwater management system. These drainage improvements are included in this CIP and are identified as “Drainage Works” in the estimates that follow.

At present, no allowance is included in the attached estimates for acquisition of the retention/detention stormwater management area tracts (real estate) required to construct the necessary master stormwater management improvements given the current understanding that the ponds will be owned, operated and maintained by the Developer. Discussions are ongoing regarding the ultimate ownership, operation and maintenance of the stormwater retention/detention

pond system, which may ultimately be by the District, the City of Orlando, the Developer or applicable owners’ association(s).

RECREATION FACILITIES AND AMENITIES
One of the major components of creating a community is the implementation of special common area and recreation facility improvements. The proposed development plan for the project includes the creation of several special amenities and “places,” which will help create a sense of community. These areas include park facilities and select land clearing and wetland edge cleaning. The District fully supports an elevated level of quality throughout the Poitras East PD; however, the CIP does not anticipate District funding of recreational facilities or amenities beyond the District’s intent to incorporate upgraded street sign poles, upgraded street lighting, and enhanced streetscaping, including community identification monuments. All other recreational facilities and/or amenities are anticipated to be funded by the Developer or their successor in title.

DESIGN/PERMITTING AND CONTINGENCY
Estimated soft costs associated with the CIP are included in the Opinion of Probable Costs included herein. These include but are not limited to:
design/engineering/permitting;
land surveying;
legal consulting;
environmental consulting;
regulatory permitting;
materials testing;
as-built surveying; and
observation during construction to assure the site is constructed as designed and maintained in a safe and secure manner until sufficient infrastructure is in place to allow for dedication to the appropriate jurisdictional or regulatory agency.

A project contingency estimate has also been included.

COST ESTIMATES FOR DEVELOPMENT IMPROVEMENTS
A summary of the Engineer’s Opinion of Probable Costs is provided as Table 1. A listing of the entities expected to receive the dedication of various improvements along with the entities expected to assume responsibility for operation and maintenance of the facilities is provided in Table 2.

The opinions of probable costs provided in this Report represent only those facilities to be designed, constructed, and/or installed by the District. Costs are based upon the Engineer’s opinion and interpretation of the best available information; however, costs will vary based on final site planning, final engineering, approvals from regulatory agencies and economic factors.

In our opinion, the estimated costs identified herein are reasonable and sufficient for the design, construction and/or installation of the CIP.

Table 1
ENGINEER'S OPINION OF PROBABLE COST POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT PROGRAM May 19, 2020

Component	
Initial Phase Improvements Estimated Cost	Proposed Future
Improvements Estimated Cost	
Total District Capital Improvement Program	
Roadway Construction	$14,418,000	$5,857,000	$20,275,000	
Potable Water	$2,046,000	$928,000	$2,974,000	
Sanitary Sewer	$2,923,000	$1,326,000	$4,249,000	
Reclaimed Water	$1,462,000	$663,000	$2,125,000	
Duct Bank Undergrounding/Street Lights	$3,215,000	$1,459,000	$4,674,000	
Drainage	$5,262,000	$2,387,000	$7,649,000	
Landscape and Irrigation	$4,092,000	$1,856,000	$5,948,000	
Soft Costs	$3,559,000	$1,547,000	$5,106,000	
	$36,977,000	$16,023,000	$53,000,000	

The estimated cost of Roadway Construction includes estimated cost of right‐of‐way acquisition, subject to an MAI appraisal and Board approval.

An allowance for wetland mitigation costs is included in the estimated cost of Roadway Construction.

Improvements identified in the Capital Improvement Plan, whether they are identified within the "Initial Phase Improvements" or the "Proposed Future Improvements" in the chart above, may be financed with proceeds of any series of Bonds or other available capital, subject to Board approval.

This opinion of probable cost represents the Engineer's judgment as a design professional and is supplied for the general guidance of the District. The Engineer has no control over the cost of labor and material, competitive bidding or market conditions. While it is the Engineer's opinion that the costs identified herein are reasonable and sufficient for the design, construction and/or installation of the CIP, the Engineer does not guarantee the accuracy of such opinions as compared to contractor bids or actual cost to the District.

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TABLE 2
POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT OWNERSHIP, OPERATION & MAINTENANCE SUMMARY May 19, 2020

DISTRICT CONSTRUCTED
SYSTEM	OWNERSHIP	OPERATION AND MAINTENANCE ENTITY	
Public Roadways	City of Orlando	City of Orlando	
Potable Water	Orlando Utilities Commission	Orlando Utilities Commission	
Sanitary Sewer	Orange County Utilities / District	Orange County Utilities / District	
Reclaimed Water	City of Orlando	City of Orlando	
Electrical Duct Bank/Street Lights*	Orlando Utilities Commission	Orlando Utilities Commission	
Drainage Works	City of Orlando	City of Orlando	
Common Areas / Landscaping	District / City of Orlando	District / City of Orlando	
*It is anticipated that the Orlando Utilities Commission will install, own, operate and maintain street lights under a lease agreement with the District.

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Poitras East Community Development District

Personnel Leasing Agreement

PERSONNEL LEASING AGREEMENT
[LANDSCAPE AND IRRIGATION MONITORING AND MAINTENANCE]

THIS PERSONNEL LEASING AGREEMENT (“Agreement”) is made and entered into this 18th day of August, 2020, by and between BERMAN CONSTRUCTION, LLC, a Florida limited liability company (“Lessor”), and the POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT, a special-purpose unit of local government established pursuant to Chapter 190, Florida Statutes (“Lessee” or “District”).

RECITALS

WHEREAS, the District is responsible for maintaining certain landscaping and irrigation infrastructure improvements within and about the boundaries of the District; and

WHEREAS, pursuant to Chapter 190, Florida Statutes, PFM Group Consulting, LLC (“District Manager”) is charged with the supervision of the works of the District including the hiring or provision of employees and other personnel; and

WHEREAS, the District desires to enter into a lease agreement with Lessor to provide certain personnel to assist the District Manager with both the administration of the District’s landscape and irrigation maintenance contract(s) (“Maintenance Contract”) and the overall monitoring and maintenance of the District-owned irrigation improvements; and

WHEREAS, Lessor agrees to provide such a person who may work under the direction of the District Manager from time to time under such terms as are detailed below.

NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows:

RECITALS. The recitals set forth above are true and correct and are hereby incorporated in and made a part of this Agreement.

LEASE OF PERSONNEL. For and in consideration of the compensation described in Section 6 below, Lessee hereby agrees to lease from Lessor, and Lessor hereby agrees to lease to Lessee, individuals, acceptable to Lessee, for whatever sufficient time each week is necessary to complete the Maintenance Contract administration work (the “Administrator”) and the irrigation monitoring work (“Irrigation Specialist” and together with the Administrator, the “Leased Specialist(s)”). The Leased Specialist(s) salary and benefits shall be determined and paid by Lessor. At the discretion of Lessor, Lessor may replace the individual or individuals serving as the Leased Specialist(s); in such event, Lessor shall attempt to employ a replacement, acceptable to Lessee, to serve as the Leased Specialist(s) and shall notify Lessee of the replacement in writing. The initial Administrator shall be Scott Thacker. The initial Irrigation Specialist shall be Paul Stephens. Nothing shall prevent the same individual from serving as both the Administrator and

the Irrigation Specialist; however, in such event the compensation set forth in Section 6 herein may be subject to adjustment as agreed to in writing by the parties.

DUTIES.

DUTIES OF THE ADMINISTRATOR. The Administrator shall work for the benefit of the District and shall be responsible for performing such duties related to administration of the Maintenance Contract as directed by the District Manager. Specifically, the Administrator’s duties shall include, but not be limited to, reviewing all maintenance performance, field conditions, and pay requests and ensuring that the proper processes are followed and documentation obtained pursuant to the requirements of the Maintenance Contract. The Administrator shall obtain such documentation from contractors and vendors related to payments tendered and work performed, as requested by the District from time to time. Lessor acknowledges the District is subject to certain prompt payment responsibilities required by law. In no event shall the actions or omissions of the Administrator result in a breach by the District of its prompt payment responsibilities.

DUTIES OF THE IRRIGATION SPECIALIST. The Irrigation Specialist shall work for the benefit of the District and shall be responsible for performing such duties related to monitoring and maintenance of the irrigation system as directed by the District Manager. Specifically, the Irrigation Specialist’s duties shall include, but not be limited to, inspecting irrigation systems, scheduling controllers, coordinating and overseeing irrigation repairs, and monitoring water consumption. The Irrigation Specialist shall obtain such documentation from contractors and vendors related to payments tendered and work performed, as requested by the District from time to time. Lessor acknowledges the District is subject to certain prompt payment responsibilities required by law. In no event shall the actions or omissions of the Irrigation Specialist result in a breach by the District of its prompt payment responsibilities.

TERM. The term of this Agreement shall be for a one (1) year renewable period commencing as of the date written above (“Commencement Date”). This Agreement shall automatically renew each year unless terminated by either party. Either party may terminate this Agreement at any time, with or without cause, by giving at least thirty (30) days written notice to the other party specifying the date the termination is to become effective. Notwithstanding the preceding sentence, Lessee shall have the right to immediately terminate this Agreement upon a breach by Lessor. Any termination of this Agreement shall not release Lessee of its obligation to pay Lessor the compensation due pursuant to Section 6 below for all periods prior to termination.

OFFICE SPACE AND SUPPORT SERVICES. Lessor shall provide the Leased Specialist(s) such supplies or support as shall be reasonably necessary for the Leased Specialist(s) to render services on behalf of Lessee in accordance with this Agreement all at no cost to Lessee.

COMPENSATION.

COMPENSATION FOR ADMINISTRATOR. For and in consideration of the lease of the services of the Administrator to Lessee by Lessor and the office space, supplies, support services

and/or other overhead or facilities to be furnished to Lessee by Lessor pursuant to this Agreement, if any, Lessee shall pay Lessor Five Hundred Dollars ($500.00) per month, for a total annual amount of Six Thousand Dollars ($6,000.00) per year. Payment shall occur monthly and within thirty days of presentation of an invoice by Lessor. Lessor agrees that it shall be solely responsible for all salary, employee benefits and all payroll-related taxes and charges associated with Lessor's employment of the person serving Lessee as Administrator. In no event shall this Agreement be construed as an employment agreement between the Administrator and Lessee, or between Lessor and Lessee.

COMPENSATION FOR IRRIGATION SPECIALIST. For and in consideration of the lease of the services of the Irrigation Specialist to Lessee by Lessor and the office space, supplies, support services and/or other overhead or facilities to be furnished to Lessee by Lessor pursuant to this Agreement, if any, Lessee shall pay Lessor Five Hundred Dollars ($500.00) per month, for a total annual amount of Six Thousand Dollars ($6,000.00) per year. Payment shall occur monthly and within thirty days of presentation of an invoice by Lessor. Lessor agrees that it shall be solely responsible for all salary, employee benefits and all payroll-related taxes and charges associated with Lessor's employment of the person serving Lessee as Irrigation Specialist. In no event shall this Agreement be construed as an employment agreement between the Irrigation Specialist and Lessee, or between Lessor and Lessee.

The parties agree and covenant that any change in services or compensation under this Agreement shall reference this section of this Agreement in a writing signed by both parties hereto, approved by the District’s Board of Supervisors.

CONTROL OF THE LEASED SPECIALIST(S). All services required to be rendered by the Leased Specialist(s) hereunder shall be rendered subject to the consent, control and direction of Lessee through the offices of the District Manager.

RELATIONSHIPS. Lessor and Lessee shall not, by virtue of this Agreement, be construed as joint venturers or partners of each other, and neither shall have the power to bind or obligate the other. Lessor and Lessee acknowledge and agree that the Leased Specialist(s) shall be an employee of Lessor. In furtherance thereof, Lessor shall be responsible for the payment of all compensation, taxes and employee benefits and other charges payable with respect to the Leased Specialist(s), including, but not limited to, all applicable federal income tax withholding, FICA, FUTA tax, unemployment compensation and any other taxes or charges imposed by law with respect to the Leased Specialist(s).

PREVAILING PARTY. If it should become necessary for either of the parties to resort to legal action, the non-prevailing party shall pay all reasonable legal fees and other expenses incurred by the prevailing party, including but not limited to attorneys’ fees of in-house and outside counsel at all judicial levels.

JURY WAIVER. The parties hereby knowingly, irrevocably, voluntarily, and intentionally waive any rights to a trial by jury in respect of any action, proceeding or counter

claim based on this Agreement or arising out of, under or in connection with this Agreement or any document or instrument executed in connection with this Agreement, or any course of conduct, course of dealing, statements (whether verbal or written) or action of any party hereto. This provision is a material inducement for the parties entering into the subject Agreement.

FORCE MAJEURE. Each party hereto shall give notice promptly to the other of the nature and extent of any event of force majeure claimed to delay or prevent its performance under this Agreement.

NOTICES. All notices, requests, consents and other communications hereunder (“Notices”) shall be in writing and shall be delivered, mailed by First Class Mail, postage prepaid, or overnight delivery service, to the parties, as follows:

If to Lessor:	Berman Construction, LLC
9801 Lake Nona Club Drive Orlando, Florida 32827
Attn:  	

If to District:	Poitras East Community Development District
12051 Corporate Boulevard
Orlando, Florida 32817 Attn: District Manager

With a copy to:	Hopping Green & Sams, P.A.
119 S. Monroe Street, Suite 300
Tallahassee, Florida 32301 Attn: Tucker F. Mackie

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. 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 parties may deliver Notice on behalf of the parties. 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.

INDEMNIFICATION. Lessor agrees to indemnify and hold the Lessee harmless from and against any and all damages, losses or claims, including but not limited to legal fees and expenses, to the extent that such damages, losses or claims are attributable to actions, omissions or negligence of the Leased Specialist(s).

LIMITATIONS ON LIABILITY PRESERVED. Lessor agrees that nothing contained in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability set forth in Section 768.28, Florida Statutes, and other law.

THIRD-PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns.

FURTHER ACTIONS. Each party shall take such actions to execute, file, record, publish and deliver such additional certificates, instruments, agreements and other documents as the other party may, from time to time, reasonably required in order to accomplish the purposes of this Agreement.

CONTROLLING LAW. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida.

EFFECTIVE DATE. The Agreement shall be effective after execution by both parties hereto and shall remain in effect unless terminated by either of the parties hereto.

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 Jennifer Walden (“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 STATUTES, TO THE CONTRACTOR’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT 407-723-5900,
waldenj@pfm.com, OR AT 12051 CORPORATE BLVD, ORLANDO, FL 32817.

WAIVER. No waiver of any breach of any term or condition of this Agreement shall be deemed to be a waiver of any subsequent breach of any term or condition of a like or different nature.

UNENFORCEABILITY. If any provisions of this Agreement shall be held invalid or unenforceable, such invalidity or unenforceability shall not, if possible, affect the validity or enforceability of any other provision of this Agreement, and this Agreement shall, if possible, be construed in all respects as if such invalid or unenforceable provision were omitted.

SURVIVAL OF TERMS. The terms, conditions, obligations and covenants in this Agreement shall survive its execution by the parties hereto and the consummation of the transactions between the parties contemplated herein.

CAPTIONS. The captions used herein are inserted only as a matter of convenience, and are not to be used in the interpretation of any provision hereof.

ENTIRE AGREEMENT; BINDING EFFECT. Except as to modifications made under Section 6(C), above, this Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes any prior agreements and understandings relating to such subject matter. This Agreement shall inure to the benefit of, and be binding upon and enforceable by, the parties hereto and their respective successors and permitted assigns. Neither party to this Agreement may assign their rights or obligations hereunder without the prior written consent of the other party. Any purported assignment without such prior written consent is void.

EXECUTION IN COUNTERPARTS. This instrument may be executed in any number of counterparts, each of which, when executed and delivered, shall constitute an original, and such counterparts together shall constitute one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

IN WITNESS WHEREOF, the parties execute this Agreement the day and year first written
above.

Attest:	POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary
By:  	

Its:  	

BERMAN CONSTRUCTION, LLC, a Florida limited liability company

Witness:

By:  	

Its:  	

Poitras East Community Development District

Berman Agreement

AGREEMENT BETWEEN THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AND BERMAN CONSTRUCTION, LLC FOR GENERAL MAINTENANCE SERVICES

THIS AGREEMENT (“Agreement”) is made and entered into this 18th day of August, 2020 by and between:

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special- purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Orlando, Florida, and whose mailing address is 12051 Corporate Boulevard, Orlando, Florida 32817 (the “District”); and

BERMAN CONSTRUCTION, LLC, a Florida limited liability company, with a mailing address of 9801 Lake Nona Club Drive, Orlando, Florida 32827 (hereinafter “Contractor”, together with District the “Parties”).

RECITALS

WHEREAS, the District is a local unit of special-purpose government established pursuant to the Uniform Community Development District Act of 1980, as codified in Chapter 190, Florida Statutes (the “Act”), by ordinance adopted by the City of Orlando, Florida; and

WHEREAS, the District was established for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and

WHEREAS, the District owns, operates and maintains certain infrastructure with the boundaries of the District (“Infrastructure”); and

WHEREAS, the District desires to enter into an agreement with an independent contractor to provide general maintenance and repair services for the Infrastructure, consisting generally of landscaping, irrigation, lighting and hardscape improvements, on an as-needed basis; and

WHEREAS, Contractor represents that it is qualified to provide general maintenance and repair services (“Services”) and has agreed to provide to the District such services on an as-needed basis at the written request of the District pursuant to a work authorization, the form of which is attached hereto as Exhibit A (“Work Authorization”); and

WHEREAS, the District and Contractor warrant and agree that they have all right, power and authority to enter into and be bound by this Agreement.

NOW, THEREFORE, in consideration of the recitals, agreements, and mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties, the Parties agree as follows:

SECTION 1. INCORPORATION OF RECITALS. The recitals so stated are true and correct and by this reference are incorporated into and form a material part of this Agreement.

SECTION 2. DESCRIPTION OF WORK AND SERVICES.

The District desires that the Contractor provide professional general maintenance and repair services, consisting generally of landscaping, irrigation, lighting and hardscape improvements, within presently accepted standards. Upon all Parties signing this Agreement, the Contractor shall provide the District with Services requested pursuant to Work Authorization.

While providing the Services, 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 of the Services.

The Contractor shall provide the Services identified in Work Authorizations. Contractor shall solely be responsible for the means, manner and methods by which its duties, obligations and responsibilities are met to the satisfaction of the District.

This Agreement grants to Contractor the right to enter the lands that are subject to this Agreement, for those purposes described in this Agreement, and Contractor hereby agrees to comply with all applicable laws, rules, and regulations.

SECTION 3.  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 Parties 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 reasonably acceptable to the District and shall be in accordance with industry standards. The performance of the Services by the Contractor under this Agreement and related to this Agreement shall conform 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 performed by the Contractor as if described and delineated in this Agreement.

The Contractor agrees that the District shall not be liable for the payment of any work or services not included in a Work Authorization 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 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 representative, 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 4.	COMPENSATION; TERM.

Compensation and term for Services to be performed by the Contractor shall be determined and agreed upon by the Parties pursuant to Work Authorization.

If the District should desire additional work or services, or to add additional areas to be maintained, the Contractor agrees to negotiate in good faith to undertake such additional work or services. Upon successful negotiations, the Parties shall agree in writing to an, addendum, addenda, or change order to the Work Authorization. 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 of employees.

SECTION 5.	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 any 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 of not 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 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 coverage, 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.

If the Contractor fails to have secured and maintained the required insurance, the District has the right but not the obligation 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 6. INDEMNIFICATION.

Contractor agrees to defend, indemnify, and hold harmless the District and its officers, agents, employees, successors, assigns, members, affiliates, or representatives from any and all liability, claims, actions, suits, liens, demands, costs, interest, expenses, damages, penalties, fines, judgments against the District, or loss or damage, whether monetary or otherwise, arising out of, wholly or in part by, or in connection with the Services to be performed by Contractor, its subcontractors, its employees and agents in connection with this Agreement, including litigation, mediation, arbitration, appellate, or settlement proceedings with respect thereto. Additionally, nothing in this Agreement requires Contractor to indemnify the District for the District’s percentage of fault if the District is adjudged to be more than 50% at fault for any claims against the District and Contractor as jointly liable parties; however, Contractor shall indemnify the District for any and all percentage of fault attributable to Contractor for claims against the District, regardless whether the District is adjudged to be more or less than 50% at fault. 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 statute.

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, attorneys’ fees, paralegal fees (incurred in court, out of court, on appeal, or in bankruptcy proceedings), any interest, expenses, damages, penalties, fines, or judgments against the District.

SECTION 7. LIMITATIONS ON GOVERNMENTAL LIABILITY. Nothing in this Agreement shall be deemed as a waiver of the District’s sovereign immunity or the District’s limits of liability as set forth in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would

otherwise be barred under such limitations of liability or by operation of 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 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 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 of notice of termination.

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 manner 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 Parties to this Agreement, except as expressly limited in this Agreement.

SECTION 13. TERMINATION. The District agrees that the Contractor may terminate this Agreement with cause by providing thirty (30) days’ written notice of termination to the District stating a failure of the District to perform according to the terms of this Agreement; provided,

however, that the District shall be provided a reasonable opportunity to cure any failure under this Agreement. The Contractor agrees that the District may terminate this Agreement immediately for cause by providing written notice of termination to the Contractor. The District shall provide thirty (30) days’ written notice of termination without cause. 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 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 of the provisions of this Agreement.

SECTION 18. ENFORCEMENT OF AGREEMENT. A default by either Party under this Agreement shall entitle the other Party to all remedies available at law or in equity. 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 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 Parties 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 Parties.

SECTION 21.	AUTHORIZATION.	The execution of this Agreement has been duly authorized by the appropriate body or official of the Parties, the Parties have complied with all the

requirements of law, and the Parties have full power and authority to comply with the terms and provisions of this Agreement.

SECTION 22. NOTICES. All notices, requests, consents and other communications under this Agreement (“Notice” or “Notices”) shall be in writing and shall be hand delivered, mailed by First Class Mail, postage prepaid, or sent by overnight delivery service, to the Parties, as follows:

If to District:	Poitras East Community Development District
2051 Corporate Boulevard
Orlando, Florida 32817 Attn: District Manager

With a copy to:	Hopping Green & Sams, P.A.
119 S. Monroe Street, Suite 300
Tallahassee, Florida 32301 Attn: District Counsel

If to the Contractor:	Berman Construction, LLC
9801 Lake Nona Club Drive Orlando, Florida 32827
Attn:  	

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 Notices 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 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 in this Agreement.

SECTION 23. THIRD PARTY BENEFICIARIES. This Agreement is solely for the benefit of the Parties hereto 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 Parties hereto 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 Parties hereto and their respective representatives, successors, and assigns.

SECTION 24. CONTROLLING LAW AND VENUE. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida. All actions and disputes shall be brought in the proper court and venue, which shall be Orange County, Florida.

SECTION 25. COMPLIANCE WITH PUBLIC RECORDS LAWS. 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 Jennifer Walden (“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 STATUTES, TO THE CONTRACTOR’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 723-5900, waldenj@pfm.com, OR 12051 CORPORATE BOULEVARD, ORLANDO, FLORIDA 32817.

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 Parties as an arm's length transaction. The Parties 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 instrument may be executed in any number of counterparts, each of which, when executed and delivered, shall constitute an original, and such counterparts together shall constitute one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

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

Attest:	POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary	Chairperson, Board of Supervisors

Witness:	BERMAN CONSTRUCTION, LLC

 	

Print Name:  	

Exhibit A: Form of Work Authorization

By:			 Its:    		

WORK AUTHORIZATION FOR MAINTENANCE SERVICES

This Work Authorization  (the “Work Authorization”), dated 	, 2020, authorizes certain work in accordance with that certain AGREEMENT BETWEEN THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AND BERMAN CONSTRUCTION, LLC FOR GENERAL
MAINTENANCE SERVICES (the “Agreement”), dated 	, 2020, by and between:

Poitras East Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Orlando, Florida, and whose mailing address is 12051 Corporate Boulevard, Orlando, Florida 32817 (the “District”); and

Berman Construction, LLC, a Florida limited liability company, with a mailing address of 9801 Lake Nona Club Drive, Orlando, Florida 32827 (hereinafter “Contractor”, together with District the “Parties”).

Section 1. Scope of Services.   Contractor shall provide 	maintenance services, as set forth in the attached Exhibit A, which is incorporated herein by reference, all in accordance with the terms of the Agreement (collectively, the “Services”).

Section 2. Compensation and Term. It is understood and agreed that the payment of compensation for the Services under this Work Authorization shall be in the amount and for the term set forth in the attached Exhibit A, and in the manner set forth in the Agreement.

Section 3. Acceptance. Acceptance of this Work Authorization will authorize the Contractor to complete the Services as outlined above and is indicated by the signature of the authorized representative of the District and the Contractor in the spaces provided below. Contractor shall commence the aforesaid Services as provided herein and shall perform the same in accordance with the terms and conditions of the Agreement, which, except to the extent expressly altered or changed in this Work Authorization, remain in full force and effect.

IN WITNESS WHEREOF, the Parties hereto have caused this Work Authorization to be executed the day and year first above written.

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

 	

Secretary

By:	 Its: 	

BERMAN CONSTRUCTION, LLC

 	

Witness

By:	 Its: 	

Exhibit A: Proposal/Scope of Services

Poitras East Community Development District

Resolution 2020-16,
Adopting the Fiscal Year 2021 Budget and Appropriating Funds

RESOLUTION 2020-16

THE ANNUAL APPROPRIATION RESOLUTION OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT (“DISTRICT”) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2020, AND ENDING SEPTEMBER 30, 2021; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2020, submitted to the Board of Supervisors (“Board”) of the Poitras East Community Development District (“District”) proposed budget (“Proposed Budget”) for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021”) 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 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 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 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 POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT:

SECTION 1. BUDGET

The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District’s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

The 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 (“Adopted Budget”), 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 Local Records Office and identified as “The Budget for the Poitras East Community Development District for the Fiscal Year Ending September 30, 2021.”

The Adopted Budget shall be posted by the District Manager on the District’s official website within thirty (30) days after adoption and shall remain on the website for at least 2 years.

SECTION 2. APPROPRIATIONS

There is hereby appropriated out of the revenues of the District, for Fiscal Year 2020/2021, the sum of $ 	to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board 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	$ 	

TOTAL ALL FUNDS	$ 	

SECTION 3. BUDGET AMENDMENTS

Pursuant to Section 189.016, Florida Statutes, the District at any time within Fiscal Year 2020/2021 or within 60 days following the end of the Fiscal Year 2020/2021 may amend its Adopted Budget 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 10% 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 corresponding 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, Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District’s website within 5 days after adoption and remain on the website for at least 2 years.

SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 18TH DAY OF AUGUST, 2020.

ATTEST:	POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT

Secretary/Assistant Secretary

By:	 Its: 	

Poitras East CDD
FY 2021 Proposed O&M Budget

Actual Through 07/31/2020

Year To Date

Anticipated Aug. - Sep.

Anticipated FY 2020 Total

FY 2020
Adopted Budget

FY 2021
Proposed Budget

Revenues

Developer Contributions	$	82,447.00		$	25,240.33		$	107,687.33		$ 182,550.00		$ 361,225.00	
Net Revenues	$	82,447.00		$	25,240.33		$	107,687.33		$ 182,550.00		$ 361,225.00	

General & Administrative Expenses

Supervisor Fees	$	2,800.00	$	800.00	$	3,600.00	$	4,800.00	$	4,800.00	
D&O Insurance	2,306.00	-	2,306.00	2,500.00	3,000.00	
Trustee Services	-	-	-	6,000.00	6,000.00	
Management	29,166.70	5,833.30	35,000.00	35,000.00	35,000.00	
Engineering	11,999.48	2,399.90	14,399.38	12,000.00	12,000.00	
Dissemination Agent	-	-	-	5,000.00	5,000.00	
District Counsel	16,469.07	3,293.81	19,762.88	25,000.00	25,000.00	
Assessment Administration	-	-	-	7,500.00	7,500.00	
Reamortization Schedules	-	-	-	500.00	500.00	
Audit	3,000.00		-		3,000.00		6,000.00		6,000.00	
Travel and Per Diem	-		83.33		83.33		500.00		500.00	
Telephone	-		16.67		16.67		100.00		100.00	
Postage & Shipping	65.50		13.10		78.60		100.00		500.00	
Copies	-		16.67		16.67		100.00		500.00	
Legal Advertising	10,951.92		2,190.38		13,142.30		8,000.00		10,000.00	
Miscellaneous	-		1,420.83		1,420.83		8,525.00		9,000.00	
Web Site Maintenance	1,850.00		850.00		2,700.00		2,700.00		2,700.00	
Dues, Licenses, and Fees	175.00		-		175.00		175.00		175.00	
Total General & Administrative Expenses	$	78,783.67		$	16,917.99		$	95,701.66		$ 124,500.00		$ 128,275.00	

Field Operations
Electric Utility Services
Electric	

$	

-	

$	

-	

$	

-	

$	

-	

$	

2,500.00	
Water-Sewer Combination Services
Water Reclaimed		
-		
-		
-		
-		
10,000.00	
Other Physical Environment											
General Insurance	2,819.00		-	2,819.00	3,050.00	3,200.00	

Property & Casualty Insurance	-	-	-	-	1,500.00	
Other Insurance	-	-	-	-	250.00	
Irrigation Repairs	-	-	-	-	10,000.00	
Landscaping Maintenance & Material	-	9,166.67	9,166.67	55,000.00	75,000.00	
Tree Trimming	-	-	-	-	5,000.00	
Flower & Plant Replacement	-	-	-	-	10,000.00	
Contingency	-	-	-	-	10,000.00	
Hurricane Cleanup	-	-	-	-	20,000.00	
Road & Street Facilities
Entry and Wall Maintenance	
-	-	-	-	
3,000.00	
Hardscape Maintenance	-	-	-	-	5,000.00	
Streetlights	-	-	-	-	30,000.00	
Accent Lighting	-	-	-	-	500.00	
Alleyway Maintenance	-	-	-	-	10,000.00	
Parks & Recreation
Personnel Leasing Agreement	
-	
-	
-	
-	
12,000.00	
Reserves						
Infrastructure Capital Reserve	-	-	-	-	20,000.00	
Alleyway Reserve	-	-	-	-	5,000.00	
Total Field Operations Expenses		$	2,819.00		$	9,166.67		$	11,985.67		$	58,050.00		$	232,950.00	

Total Expenses		
$	
81,602.67		
$	
26,084.66		
$	
107,687.33		
$	
182,550.00		
$	
361,225.00	
																
Net Income (Loss)		$	844.33		$	(844.33)		$	-		$	-		$	-	
Page 1 of 1

Poitras East Community Development District

Fiscal Year 2020-2021 Funding Agreement

POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021 FUNDING AGREEMENT

This agreement (“Agreement”) is made and entered into this 18TH day of August, 2020, by and between:

Poitras East Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in City of Orlando, Florida (hereinafter “District”), and

TDCP, LLC, a Florida limited liability company and a landowner in the District (hereinafter “Developer”) with an address of 6900 Tavistock Lakes Boulevard, Suite 200, Orlando, Florida 32827.

RECITALS

WHEREAS, the District was established by an ordinance adopted by the City Council of the City of Orlando, Florida, for the purpose of planning, financing, constructing, operating and/or maintaining certain infrastructure; and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, Developer presently owns and/or is developing the majority of all real property described in Exhibit A, attached hereto and incorporated herein (“Property”), within the District, which Property will benefit from the timely construction and acquisition of the District's facilities, activities and services and from the continued operations of the District; and

WHEREAS, the District is adopting its general fund budget for the fiscal year beginning October 1, 2020 and ending September 30, 2021 (“Fiscal Year 2020/2021 Budget”); and

WHEREAS, this Fiscal Year 2020/2021 Budget, which both parties recognize may be amended from time to time in the sole discretion of the District, is attached hereto and incorporated herein by reference as Exhibit B; and

WHEREAS, the District has the option of levying non-ad valorem assessments on all land, including the Property, that will benefit from the activities, operations and services set forth in the Fiscal Year 2020/2021 Budget, or utilizing such other revenue sources as may be available to it; and

WHEREAS, in lieu of levying assessments on the Property, the Developer is willing to provide such funds as are necessary to allow the District to proceed with its operations as described in Exhibit B; and

WHEREAS, the Developer agrees that the activities, operations and services provide a special and peculiar benefit equal to or in excess of the costs reflected on Exhibit B to the Property; and

WHEREAS, the Developer has agreed to enter into this Agreement in lieu of having the District levy and collect any non-ad valorem assessments as authorized by law against the Property located within the District for the activities, operations and services set forth in Exhibit B; and

WHEREAS, Developer and District desire to secure such budget funding through the imposition of a continuing lien against the Property described in Exhibit A and otherwise as provided herein.

NOW, THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which are hereby acknowledged, the parties agree as follows:

FUNDING. The Developer agrees to make available to the District the monies necessary for the operation of the District as called for in the budget attached hereto as Exhibit B, as may be amended from time to time in the District’s sole discretion, within fifteen (15) days of written request by the District. Amendments to the Fiscal Year 2020/2021 Budget as shown on Exhibit B adopted by the District at a duly noticed meeting shall have the effect of amending this Agreement without further action of the parties. Funds provided hereunder shall be placed in the District's general checking account. These payments are made by the Developer in lieu of taxes, fees, or assessments which might otherwise be levied or imposed by the District.

CONTINUING LIEN. District shall have the right to file a continuing lien upon the Property described in Exhibit A for all payments due and owing under the terms of this Agreement and for interest thereon, and for reasonable attorneys’ fees, paralegals’ fees, expenses and court costs incurred by the District incident to the collection of funds under this Agreement or for enforcement this lien, and all sums advanced and paid by the District for taxes and payment on account of superior interests, liens and encumbrances in order to preserve and protect the District’s lien. The lien shall be effective as of the date and time of the recording of a “Notice of Lien for Fiscal Year 2020/2021 Budget” in the public records of Orange County, Florida (“County”), stating among other things, the description of the real property and the amount due as of the recording of the Notice, and the existence of this Agreement. The District Manager, in its sole discretion, is hereby authorized by the District to file the Notice of Lien for Fiscal Year 2020/2021 Budget on behalf of the District, without the need of further Board action authorizing or directing such filing. At the District Manager’s direction, the District may also bring an action at law against the record title holder to the Property to pay the amount due under this Agreement, or may foreclose the lien against the Property in any manner authorized by law. The District may partially release any filed lien for portions of the Property subject to a plat if and when the Developer has demonstrated, in the District’s sole discretion, such release will not materially impair the ability of the District to enforce the collection of funds hereunder. In the event the Developer sells any of the Property described in Exhibit A after the execution of this Agreement, the Developer’s rights and obligations under this Agreement shall remain the same, provided however that the District shall only have the right to file a lien upon the remaining Property owned by the Developer.

ALTERNATIVE COLLECTION METHODS.

In the alternative or in addition to the collection method set forth in Paragraph 2 above, the District may enforce the collection of funds due under this Agreement by action against the Developer in the appropriate judicial forum in and for the County. The enforcement of the collection of funds in this manner shall be in the sole discretion of the District Manager on behalf of the District. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution, or appellate proceedings.

The District hereby finds that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property, which benefit is initially allocated on an equal developable acreage basis. The Developer agrees that the activities, operations and services set forth in Exhibit B provide a special and peculiar benefit to the Property equal to or in excess of the costs set forth in Exhibit B, on an equal developable acreage basis. Therefore, in the alternative or in addition to the other methods of collection set forth in this Agreement, the District, in its sole discretion, may choose to certify amounts due hereunder as a non-ad valorem assessment on all or any part of the Property for collection, either through the Uniform Method of Collection set forth in Chapter 197, Florida Statutes, or under any method of direct bill and collection authorized by Florida law. Such assessment, if imposed, may be certified on the next available tax roll of the County property appraiser.

AGREEMENT; AMENDMENTS. This instrument shall constitute the final and complete expression of the agreement between the parties relating to the subject matter of this Agreement. 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 of the parties hereto.

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this instrument.

ASSIGNMENT. This Agreement may be assigned, in whole or in part, by either party only upon the written consent of the other, which consent shall not be unreasonably withheld.

DEFAULT. A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which shall include, but not be limited to, the right of damages, injunctive relief and specific performance and specifically including the ability of the District to enforce any and all payment obligations under this Agreement in the manner described herein in Paragraphs 2 and 3 above.

THIRD PARTY RIGHTS; TRANSFER OF PROPERTY. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in

this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns. In the event the Developer sells or otherwise disposes of its business or of all or substantially all of its assets relating to improvements, work product, or lands within the District, the Developer shall continue to be bound by the terms of this Agreement and additionally shall expressly require that the purchaser agree to be bound by the terms of this Agreement. The Developer shall give 90 days prior written notice to the District under this Agreement of any such sale or disposition.

FLORIDA LAW GOVERNS. This Agreement and the provisions contained herein shall be construed, interpreted and controlled according to the laws of the State of Florida.

ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between the parties as an arm's length transaction. The parties 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 the doubtful language will not be interpreted or construed against any party.

EFFECTIVE DATE. The Agreement shall be effective after execution by both parties hereto. The enforcement provisions of this Agreement shall survive its termination, until all payments due under this Agreement are paid in full.

IN WITNESS WHEREOF, the parties execute this Agreement the day and year first written above.

Attest:	Poitras East Community
Development District

Secretary/Assistant Secretary	By:  	
Its:  	

TDCP, LLC,
a Florida limited liability company

Witness	By: 	
Its: 	

EXHIBIT A:  Property Description

20180438396 Page 3 of 3

EXHIBIT A

POITRAS PROPERTY POITRAS EAST COD JANUARY 4, 2018

DESCRIPTION:

That part of Section 36, Township 24 South, Range 30 East, Orange County, Plorida and lhat part of Sections 3t and 32, Township 24 South, Range 31 East, Orange County, Florida. described as follows:

Commence at the Northeast comer of said Section 31; lhcncc S89°41'29"W along the North line of said Section 31. lor a distance of 30.34 feet to the POINT OF BEOINNJNG and the West right.of-way line of Narcoossce Road, as described in Official Records Book 10003, Page S463, of the Public Records of Orange County, Florida, and a point on a non-tangent curve concave Northeasterly having a radius of 4595.35 feet and a chord bearing of S24°36'38•E; thence departing said Nonh line run Southeasterly along aaid West right-of-way line and along the arc of said curve through a central angle of 34°11'08• for a distance of2741.83 feet to the point of tangency; thence S41°42'12"E along said West right-of-way line and the West right-of-way line of Narcoossec Rolld, as described in Official Records Book 9838, Page 6700. of the Public Records of Orange County, Plorida, for I di&tance of 2244.39 fcct to the South lino of lands described in Official Records Book 10345, Page 1882, of lhc Public Rec:ords of Orange County, Florida; thence departing said West right-of-way line run N89°42'29•W along said South line, 1208.33 feet to the Southwest corner of said lands described in Official Records Book 10345, Page 1882; rhcncc
departing said South line run SOI"25'03"E alons the West line of the Southea&I 1/4 of the Southwest 1/4
of aaid Section 32, for a distance of 1429.96 feet to lhc Notthcrly right-of-way line of State Road 530 (Boggy Creek Road), as described in Deed Book 803, Page 550, of the Public Records of Orange County, Florida; thence departing said West line run S89°56'29•w along said Northerly right-of-way line. 6288.89 feet to the point of curvature of a curve concave Southerly having a radius of 1482.62 feet and a chord bearing of S83°06'59•W; thence Wes1crly along aaid Northerly right-of-way line and along 1hc arc
of said curve through a central angle of 13°39'01• for a distance of 353.22 feet to a non-tangent line and
the South line of lhe Southwcal 1/4 of said Section 31; thence deputing said Northerly right-of-WI)' line run N89"55'1 I "W along said South line. 16.39 feet to the Southwest comer of said Section 31: thence N89"53'3rW along the South line of lhe Southeast 1/4 of said Section 36, for a distance of 2413.39 feet to the South 1/4 comer of said Section 36; thence N89°51'34"W along the South line of the Southwest 1/4 of said Section 36. for a distance of 318.67 feet; !hence departing said South line run N31°21'13"W, 1436.64 feet; thence N20"38'58"E. 1859.82 feet to the South line of lands described in Official Records Book 5620, Page 2323, of the Public Records of Orange County, Florida; thence run the following courses and dillanCCS along said South line: N41°57'03"B. 684.96 feet: S38°30'26"B, 305.98 feet; N68°04'58"E, 1694.91 feet: N44°15'SI "E, 829.96 feet; N00"00'16"W. 244.99 feet; N31°31'Sl•W, 274.99
feet; N38°13'29•E, 799.96 feet to the aforesaid North line of Section 31: thence departing said South line run N89°4 I '29"B along said N011h line, 4882.50 feet to lhe POINT OF BEGINNING. This description is based on Florida State Plane Coordinate System East l.one, average combined scale factor of 0.99994883912, NAO 83 Datum (2011 adjuslment) and all distances ue grid dimensions.

Being subject to any rights-of-way, restrictions and easements of record.

The above described parcel of land contains 1060.689 acres more or less when measured In ground dimensions.

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EXHIBIT B: Fiscal Year 2020/2021 Budget

Poitras East CDD
FY 2021 Proposed O&M Budget

Actual Through 07/31/2020

Year To Date

Anticipated Aug. - Sep.

Anticipated FY 2020 Total

FY 2020
Adopted Budget

FY 2021
Proposed Budget

Revenues

Developer Contributions	$	82,447.00		$	25,240.33		$	107,687.33		$ 182,550.00		$ 361,225.00	
Net Revenues	$	82,447.00		$	25,240.33		$	107,687.33		$ 182,550.00		$ 361,225.00	

General & Administrative Expenses

Supervisor Fees	$	2,800.00	$	800.00	$	3,600.00	$	4,800.00	$	4,800.00	
D&O Insurance	2,306.00	-	2,306.00	2,500.00	3,000.00	
Trustee Services	-	-	-	6,000.00	6,000.00	
Management	29,166.70	5,833.30	35,000.00	35,000.00	35,000.00	
Engineering	11,999.48	2,399.90	14,399.38	12,000.00	12,000.00	
Dissemination Agent	-	-	-	5,000.00	5,000.00	
District Counsel	16,469.07	3,293.81	19,762.88	25,000.00	25,000.00	
Assessment Administration	-	-	-	7,500.00	7,500.00	
Reamortization Schedules	-	-	-	500.00	500.00	
Audit	3,000.00		-		3,000.00		6,000.00		6,000.00	
Travel and Per Diem	-		83.33		83.33		500.00		500.00	
Telephone	-		16.67		16.67		100.00		100.00	
Postage & Shipping	65.50		13.10		78.60		100.00		500.00	
Copies	-		16.67		16.67		100.00		500.00	
Legal Advertising	10,951.92		2,190.38		13,142.30		8,000.00		10,000.00	
Miscellaneous	-		1,420.83		1,420.83		8,525.00		9,000.00	
Web Site Maintenance	1,850.00		850.00		2,700.00		2,700.00		2,700.00	
Dues, Licenses, and Fees	175.00		-		175.00		175.00		175.00	
Total General & Administrative Expenses	$	78,783.67		$	16,917.99		$	95,701.66		$ 124,500.00		$ 128,275.00	

Field Operations
Electric Utility Services
Electric	

$	

-	

$	

-	

$	

-	

$	

-	

$	

2,500.00	
Water-Sewer Combination Services
Water Reclaimed		
-		
-		
-		
-		
10,000.00	
Other Physical Environment											
General Insurance	2,819.00		-	2,819.00	3,050.00	3,200.00	

Property & Casualty Insurance	-	-	-	-	1,500.00	
Other Insurance	-	-	-	-	250.00	
Irrigation Repairs	-	-	-	-	10,000.00	
Landscaping Maintenance & Material	-	9,166.67	9,166.67	55,000.00	75,000.00	
Tree Trimming	-	-	-	-	5,000.00	
Flower & Plant Replacement	-	-	-	-	10,000.00	
Contingency	-	-	-	-	10,000.00	
Hurricane Cleanup	-	-	-	-	20,000.00	
Road & Street Facilities
Entry and Wall Maintenance	
-	-	-	-	
3,000.00	
Hardscape Maintenance	-	-	-	-	5,000.00	
Streetlights	-	-	-	-	30,000.00	
Accent Lighting	-	-	-	-	500.00	
Alleyway Maintenance	-	-	-	-	10,000.00	
Parks & Recreation
Personnel Leasing Agreement	
-	
-	
-	
-	
12,000.00	
Reserves						
Infrastructure Capital Reserve	-	-	-	-	20,000.00	
Alleyway Reserve	-	-	-	-	5,000.00	
Total Field Operations Expenses		$	2,819.00		$	9,166.67		$	11,985.67		$	58,050.00		$	232,950.00	

Total Expenses		
$	
81,602.67		
$	
26,084.66		
$	
107,687.33		
$	
182,550.00		
$	
361,225.00	
																
Net Income (Loss)		$	844.33		$	(844.33)		$	-		$	-		$	-	
Page 1 of 1

Poitras East Community Development District

Resolution 2020-17, Authorizing Disbursement of Funds

RESOLUTION 2020-17

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING THE DISBURSEMENT OF FUNDS FOR PAYMENT OF CERTAIN CONTINUING EXPENSES WITHOUT PRIOR APPROVAL OF THE BOARD OF SUPERVISORS; AUTHORIZING THE DISBURSEMENT OF FUNDS FOR PAYMENT OF CERTAIN NON-CONTINUING EXPENSES WITHOUT PRIOR APPROVAL OF THE BOARD OF SUPERVISORS; PROVIDING FOR A MONETARY THRESHOLD; AND PROVIDING FOR AN EFFECTIVE DATE

WHEREAS, the Poitras East Community Development District (“District”) is a local unit of special- purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated in Orange County, Florida; and

WHEREAS, Section 190.011(5), Florida Statutes, authorizes the District to adopt resolutions which may be necessary for the conduct of District business; and

WHEREAS, the District’s Board of Supervisors (“Board”) meets as necessary to conduct the business of the District, including authorizing the payment of District operating and maintenance expenses; and

WHEREAS, the Board may establish monthly, quarterly or other meeting dates, or may cancel scheduled meetings from time to time; and

WHEREAS, to conduct the business of the District in an efficient manner, recurring, non-recurring and other disbursements for goods and services must be processed and paid in a timely manner; and

WHEREAS, the Board determines this Resolution is in the best interest of the District and is necessary for the efficient conduct of District business; the health, safety, and welfare of the residents within the District; and the preservation of District assets or facilities.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE POITRAS EAST COMMUNITY DEVELOPMENT DISTRICT:

CONTINUING EXPENSES. The Board hereby authorizes the payment of invoices of continuing expenses, which meet the following requirements:

The invoices must be due on or before the next scheduled meeting of the Board.
The invoice must be pursuant to a contract or agreement authorized by the Board.
The total amount paid under such contract or agreement, including the current invoice, must be equal to or less than the amount specified in the contract or agreement.
The invoice amount will not cause payments to exceed the adopted budget of the District.

NON-CONTINUING EXPENSES. The Board hereby authorizes the disbursement of funds for payment of invoices of non-continuing expenses which are (i) required to provide for the health, safety, and welfare of the residents within the District; or (ii) required to repair, control, or maintain a District facility or asset beyond the normal, usual, or customary maintenance required for such facility or assets,

1

or (iii) are necessary to avoid an unnecessary expense that may be imposed on the District in connection with a District project; or (iv) are for routine services performed on an annual basis and the amount of such services is reflected in the District’s annual budget, or (v) are otherwise for an emergency circumstance, pursuant to the following schedule:

Non-Continuing Expenses Not Exceeding $5,000 - with approval of the District Manager; and
Non-Continuing Expenses Exceeding $5,000 - with approval of the District Manager and Chairperson of the Board (or Vice Chairperson in the Chairperson’s absence).

BOARD RATIFICATION. Any payment made pursuant to the Resolution shall be submitted to the Board at the next scheduled meeting for approval and ratification.

EFFECTIVE DATE. This Resolution shall become effective immediately upon its adoption.

PASSED AND ADOPTED THIS 18TH DAY OF AUGUST, 2020.

ATTEST:

POITRAS EAST COMMUNTY DEVELOPMENT DISTRICT

Secretary
Chairperson

Poitras East Community Development District

Payment Authorization Nos. 072 - 076

Poitras East Community Development District

Payment Authorization #072	
7/3/2020	

Item	Payee	Invoice	General	Capital	
No.		Number	Fund	Fund	

1	Boggy Creek Improvement District		
	Reimbursement for Construction-Related Legal Advertising on Req. 160	OSC21090309	

$	94.06

2	Orlando Sentinel		
	Legal Advertising Through 06/14/2020 (Ad: 6688629)	OSC21388007	
	Legal Advertising Through 06/21/2020 (Ad: 6697698-1-0)	OSC659097	

$	323.75	
$ 3,505.95	

3	VGlobalTech		
	Quarterly ADA & WCAG Audit	1756	
	Ongoing Website Maintenance	1778	

$	300.00	
$	125.00	

$  4,254.70	$	94.06

TOTAL	$4,348.76

Chairperson

Poitras East Community Development District c/o Fishkind & Associates, Inc.
12051 Corporate Boulevard
Orlando, FL 32817

Payment Authorization #073	
7/10/2020	

Item	Payee	Invoice	General	Capital	
No.		Number	Fund	Fund	

1	Boggy Creek Improvement District		
	4-Way Legal Advertising on 06/25/2020 (Ad: 6696735)	OSC21942649	

1	Carr Riggs & Ingram		
	FY 2019 Audit	16939322	

$  1,000.00

2	Donald W McIntosh Associates		
	Engineering Fees Through 06/19/2020	37999	
	Construction Engineering Fees Through 06/19/2020	38000	

$	312.50

3	Hopping Green & Sams		
	General Counsel Through 05/31/2020	115528	
	Project Construction Counsel Through 05/31/2020	115529	

$  1,533.60

4	Orlando Sentinel		
	Legal Advertising on 06/22/2020	OSC21956868	
	Legal Advertising on 06/28/2020	OSC659959	

$  3,505.95

$  6,352.05

$	92.19

$  1,000.00

$	115.64

$	391.26

$  1,599.09

TOTAL	$7,951.14

Chairperson

Payment Authorization #074	
7/24/2020	

Item	Payee	Invoice	General	
No.		Number	Fund	

1	PFM Group Consulting		
	Billable Expenses: June 2020	110754	
	DM Fee: July 2020	DM-07-2020-0052	
	Reimbursables: June 2020	OE-EXP-00912	

$	42.80	
$ 2,916.67	
$	1.50	

2	Supervisor Fees - 07/21/2020 Meeting	
	Richard Levey	--	

$	200.00

TOTAL	$   3,160.97

Chairperson

Payment Authorization #075	
7/31/2020	

Item	Payee	Invoice	General	
No.		Number	Fund	

1	Orlando Sentinel		
	Legal Advertising Through 07/19/2020 (Ad: 6712095)	OSC22846318	

$	331.25

TOTAL	$	331.25

Chairperson

Payment Authorization #076	
8/7/2020	

Item	Payee	Invoice	General	Capital	
No.		Number	Fund	Fund	

1	Donald W McIntosh Associates		
	Construction Engineering Fees Through 07/17/2020	40020	

$ 2,568.75

2	Hopping Green & Sams		
	General Counsel Through 06/30/2020	116200	
	Project Construction Counsel Through 06/30/2020	116201	

$  2,460.00

$  2,460.00

$	980.00

$  3,548.75

TOTAL	$6,008.75

Chairperson

Work Authorization/Proposed Services
(if applicable)

District’s Financial Position and Budget to Actual YTD

Statement of Financial Position As of 7/31/2020

Current Assets	General Fund

Assets		Capital Projects Fund		Total	
General Checking Account	$928.04				$928.04	
Accounts Receivable - Due from Developer	1,765.00				1,765.00	
Total Current Assets	$2,693.04		$0.00		$2,693.04	

Total Assets	$2,693.04		$0.00		$2,693.04	

Liabilities and Net Assets					
Current Liabilities
Accounts Payable	$15,540.22				
$15,540.22	
Deferred Revenue	1,765.00				1,765.00	
Accounts Payable		$1,301.89		1,301.89	
Total Current Liabilities	$17,305.22		$1,301.89		$18,607.11	
Total Liabilities	$17,305.22		$1,301.89		$18,607.11	

Net Assets
Net Assets, Unrestricted	($22,799.75)				

($22,799.75)	
Current Year Net Assets, Unrestricted	(35,506.46)				(35,506.46)	
Net Assets - General Government	42,849.70				42,849.70	
Current Year Net Assets - General Government	844.33				844.33	
Net Assets, Unrestricted		($625.00)		(625.00)	
Current Year Net Assets, Unrestricted		(676.89)		(676.89)	
Total Net Assets	($14,612.18)		($1,301.89)		($15,914.07)	
					
Total Liabilities and Net Assets	$2,693.04		$0.00		$2,693.04	

Statement of Activities As of 7/31/2020

General Fund	Capital Projects
Fund

Total

Revenues

Developer Contributions	$82,447.00				$82,447.00	
Inter-Fund Transfers In	(35,506.46)				(35,506.46)	
Inter-Fund Transfers In			$35,506.46		35,506.46	
Total Revenues	$46,940.54		$35,506.46		$82,447.00	

Supervisor Fees	$2,800.00				$2,800.00	
D&O Insurance	2,306.00				2,306.00	
Management	29,166.70				29,166.70	
Engineering	11,999.48				11,999.48	
District Counsel	16,469.07				16,469.07	
Audit	3,000.00				3,000.00	
Postage & Shipping	65.50				65.50	
Legal Advertising	10,951.92				10,951.92	
Web Site Maintenance	1,850.00				1,850.00	
Dues, Licenses, and Fees	175.00				175.00	
General Insurance	2,819.00				2,819.00	
Engineering			$28,172.48		28,172.48	
District Counsel			7,442.14		7,442.14	
Legal Advertising			568.73		568.73	
Total Expenses	$81,602.67	$36,183.35	$117,786.02

her Revenues (Expenses) & Gains (Losses)	
Total Other Revenues (Expenses) & Gains (Losses)	$0.00		$0.00		$0.00	
Change In Net Assets	($34,662.13)		($676.89)		($35,339.02)	

Net Assets At Beginning Of Year	
$20,049.95		
($625.00)		
$19,424.95	

Net Assets At End Of Year	
($14,612.18)		
($1,301.89)		
($15,914.07)	

Expenses

Ot

Budget to Actual
For the Month Ending 7/31/2020

Year To Date

Actual	Budget	Variance	FY 2020
Adopted Budget

Revenues		
Developer Contributions	$	82,447.00		$	152,125.00		$	(69,678.00)		$	182,550.00	
Net Revenues	$	82,447.00		$	152,125.00		$	(69,678.00)		$	182,550.00	

General & Administrative Expenses								
Supervisor Fees	$	2,800.00		$	4,000.00		$	(1,200.00)		$	4,800.00	
D&O Insurance	2,306.00		2,083.30		222.70		2,500.00	
Trustee Services	-		5,000.00		(5,000.00)		6,000.00	
Management	29,166.70		29,166.70		-		35,000.00	
Engineering	11,999.48		10,000.00		1,999.48		12,000.00	
Dissemination Agent	-		4,166.70		(4,166.70)		5,000.00	
District Counsel	16,469.07		20,833.30		(4,364.23)		25,000.00	
Assessment Administration	-		6,250.00		(6,250.00)		7,500.00	
Reamortization Schedules	-		416.70		(416.70)		500.00	
Audit	3,000.00		5,000.00		(2,000.00)		6,000.00	
Travel and Per Diem	-		416.70		(416.70)		500.00	
Telephone	-		83.30		(83.30)		100.00	
Postage & Shipping	65.50		83.30		(17.80)		100.00	
Copies	-		83.30		(83.30)		100.00	
Legal Advertising	10,951.92		6,666.70		4,285.22		8,000.00	
Miscellaneous	-		7,104.20		(7,104.20)		8,525.00	
Web Site Maintenance	1,850.00		2,250.00		(400.00)		2,700.00	
Dues, Licenses, and Fees	175.00		145.80		29.20		175.00	
General Insurance	2,819.00		2,541.70		277.30		3,050.00	
Landscaping Maintenance & Material	-		45,833.30		(45,833.30)		55,000.00	
Total General & Administrative Expenses	$	81,602.67		$	152,125.00		$	(70,522.33)		$	182,550.00	

Total Expenses

  $	81,602.67 

   $	152,125.00 

   $	(70,522.33)

  $	182,550.00 

  	 

Net Income (Loss)

$	844.33	$

-	$	844.33	$	-