GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT

Transcription

1 GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT MIAMI-DADE COUNTY REGULAR BOARD MEETING & PUBLIC HEARINGS JULY 22, :00 A.M. Special District Services, Inc Miami Lakes Drive, Suite 378 Miami Lakes, FL Telephone 877.SDS.4922 Toll Free Facsimile

2 AGENDA GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT Lennar Homes, LLC 730 NW 107 th Avenue, Suite 300 Meeting Room Miami, Florida REGULAR BOARD MEETING & PUBLIC HEARINGS July 22, :00 a.m. A. Call to Order B. Proof of Publication..Page 1 C. Establish a Quorum D. Discussion Regarding Board Vacancy/Appointment E. Additions or Deletions to Agenda F. Comments from the Public for Items Not on the Agenda G. Approval of Minutes 1. May 20, 2015 Regular Board Meeting.... Page 5 H. Public Hearing Sessions A and B Midtown Doral/Assessment Area Two 1. Proof of Publication..Page 8 2. Receive Public Comments on Fiscal Year 2015/2016 Final Budget & Assessments 3. Receive Public Comments on Levying Assessments for Collection by County Tax Collector I. Public Hearing Sessions C and D Grand Bay North/Assessment Area One 1. Proof of Publication..Page Receive Public Comments on Fiscal Year 2015/2016 Final Budget & Assessments 3. Receive Public Comments on Levying Assessments for Collection by County Tax Collector 4. Consider Resolution No Adopting a Fiscal Year 2015/2016 Final Budget...Page 12 J. Old Business 1. Staff Report: As Required K. New Business 1. Ratification of Midtown Doral Plat Signing by District Officials 2. Ratification of 88 th Street Landscaping Maintenance Agreement District/City of Doral..Page Consider Resolution No Calling for a Landowners Meeting and Notice Thereof Page Consider Resolution No Authorizes Fiscal Year 2015/2016 Meeting Schedule...Page 43 L. Administrative & Operational Matters 1. Appointment of Audit Committee and Approval of Auditor Evaluation Criteria Page Staff Report: As Required M. Board Members & Staff Closing Comments N. Adjourn

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7 GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING MAY 20, 2015 A. CALL TO ORDER Mr. Kalin called the May 20, 2015, Regular Board Meeting of the Grand Bay at Doral Community Development District to order at 10:35 a.m. in the Suite 300 Meeting Room of Lennar Homes, LLC, located at 730 NW 107 th Avenue, Suite 300, Miami, Florida B. PROOF OF PUBLICATION Mr. Kalin presented proof of publication that notice of the Regular Board Meeting had been published in the Miami Daily Business Review on October 2, 2014, as part of the District s Fiscal Year 2014/2015 Regular Meeting Schedule, as legally required. C. ESTABLISH A QUORUM Mr. Kalin determined that the attendance of Chairperson Carolina Herrera, Vice Chairperson Yadira Monzon and Supervisor Sandy Chen constituted a quorum and it was in order to proceed with the meeting. Staff in attendance: District Manager Neil Kalin of Special District Services, Inc.; and District Counsel Michael Pawelczyk of Billing, Cochran, Lyles, Mauro & Ramsey, P.A. Also present was Teresa Baluja of Miami, Florida. D. ADDITIONS OR DELETIONS TO THE AGENDA Mr. Kalin informed the Board that he would like to ADD-ON the following subject: Qualified Elector Certification under Administrative and Operational Matters. His request was acknowledged. E. COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA There were no comments from the public for items not on the agenda. F. APPROVAL OF MINUTES 1. April 15, 2015, Regular Board Meeting Mr. Kalin presented the minutes of the April 15, 2015, Regular Board Meeting and asked if there were any changes and/or corrections. There being no changes, a motion was made by Ms. Monzon, seconded by Ms. Chen and unanimously passed to approve the April 15, 2015, Regular Board Meeting Minutes, as presented. G. OLD BUSINESS 1. Staff Report, as Required No report was required at this time. Page 5

8 GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING MAY 20, 2015 H. NEW BUSINESS 1. Consider Resolution No Adopting a Fiscal Year 2015/2016 Proposed Budget and Setting the Public Hearing Date to Adopt the Final Budget Mr. Kalin presented Resolution No , entitled: RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT APPROVING AND ADOPTING A PROPOSED BUDGET FOR FISCAL YEAR 2015/2016; AND PROVIDING AN EFFECTIVE DATE. Mr. Kalin read the title of the resolution into the record and indicated that the proposed 2015/2016 fiscal year budget had been balanced with an estimated carryover of $6,480 (specific to Doral Breeze) from the projected fund balance as of September 30, Mr. Kalin reviewed the proposed budget line items and informed the Board that since the overall proposed assessments for Doral Breeze were not increasing in the fiscal year 2015/2016, letters to the residents would not be required. The property owners in Midtown Doral and in Grand Bay North will receive letters since the District intends to levy non-ad valorem assessments for debt service (principal & interest) for the first time on the 2015 real estate tax bill for the 2015/2016 fiscal year. Operation and Maintenance ( O&M ) assessments will be direct billed to each respective Developer for the fiscal year 2015/2016. Furthermore, Mr. Kalin stated as part of Resolution No the Board must set a date for the public hearing to adopt the 2015/2016 final fiscal year budget and assessment roll/levy. A discussion ensued after which: A motion was made by Ms. Monzon, seconded by Ms. Chen and unanimously passed to approve and adopt Resolution No , as presented, setting the public hearing to adopt the final budget and assessment roll for July 22, 2015, at 10:00 a.m. at Lennar Homes, LLC, 730 NW 107th Avenue, 3 rd Floor, Suite 300 Meeting Room, Miami, Florida 33172, and provides for advertising the public hearing, as required by law. 2. Consider Ownership/Conveyance of Existing Lake Fountains (3) Tract D Doral Breeze Mr. Kalin explained that the Developer had requested the District to take ownership of the three (3) fountains located in Tract D within the Doral Breeze section of the District. In addition, Mr. Kalin explained that he had received an executed No Lien Affidavit, Assignment of Warranties and a Bill of Sale for the referenced fountains. Mr. Pawelczyk stated that he had reviewed the documents related to the conveyance of the fountains and it would be in order for the Board to accept the fountain improvements. A discussion ensued after which: A motion was made by Ms. Monzon, seconded by Ms. Chen and unanimously passed to accept the conveyance of the completed fountain improvements from Flordade LLC ( Developer ). Page 6

9 GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT REGULAR BOARD MEETING MAY 20, 2015 I. ADMINISTRATIVE & OPERATIONAL MATTERS Form 1 - Financial Disclosure Reminder to Board Members Deadline July 1, 2015 The Board was reminded of the importance of completing and mailing to the Supervisor of Elections within the County of residency their individual 2014 Statement of Financial Interests Form 1. The 2014 Form 1 is expected to be mailed to the Members of the Board around the third week in May and the deadline for submittal is July 1, Staff Report, as Required Mr. Kalin indicated that, unless an emergency were to arise, the Board would not need to meet until the July 22 nd meeting. 3. ADD-ON ITEM Qualified Elector Certification from Miami-Dade County Mr. Kalin reported to the Board and for the record that the Miami-Dade County Supervisor of Elections had performed a qualified elector count/certification for the District and as of May 15, 2015, there were 75 Qualified Electors within the boundaries of the District. J. BOARD MEMBER & STAFF CLOSING COMMENTS There were no closing comments from the Board or Staff. K. ADJOURNMENT There being no further business to come before the Board, the Regular Board Meeting was adjourned at 10:59 a.m. on a motion made by Ms. Herrera, seconded by Ms. Monzon and passed unanimously. Secretary/Assistant Secretary Chairperson/Vice Chairperson Page 7

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14 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT APPROVING AND ADOPTING A FISCAL YEAR 2015/2016 FINAL BUDGET INCLUDING NON-AD VALOREM SPECIAL ASSESSMENTS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Grand Bay at Doral Community Development District ( District ) has prepared a Proposed Budget and Final Special Assessment Roll for Fiscal Year 2015/2016 and has held a duly advertised Public Hearing to receive public comments on the Proposed Budget and Final Special Assessment Roll; and WHEREAS, following the Public Hearing and the adoption of the Proposed Budget and Final Assessment Roll, the District is now authorized to levy non-ad valorem assessments upon the properties within the District. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT, THAT: Section 1. The Final Budget and Final Special Assessment Roll for Fiscal Year 2015/2016 attached hereto as Exhibit A is approved and adopted, and the assessments set forth therein shall be levied. Section 2. The Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution. PASSED, ADOPTED and EFFECTIVE this 22 nd day of July, ATTEST: GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 12

15 Grand Bay At Doral Community Development District Final Budget For Fiscal Year 2015/2016 October 1, September 30, 2016 Page 13

16 CONTENTS I II III IV V VI VII VIII IX X XI XII XIII DETAILED FINAL BUDGET BUDGET COMPARISON DETAILED FINAL BUDGET - DORAL BREEZE DETAILED FINAL BUDGET - MIDTOWN DETAILED FINAL BUDGET - NORTH & SOUTH DETAILED FINAL 2012 (DORAL BREEZE) DEBT SERVICE FUND BUDGET DETAILED FINAL 2014 (MIDTOWN) DEBT SERVICE FUND BUDGET DETAILED FINAL 2014 (NORTH) DEBT SERVICE FUND BUDGET DETAILED FINAL 2007 (SOUTH) DEBT SERVICE FUND BUDGET ASSESSMENT COMPARISON - DORAL BREEZE ASSESSMENT COMPARISON - MIDTOWN ASSESSMENT COMPARISON - NORTH ASSESSMENT COMPARISON - SOUTH Page 14

17 DETAILED FINAL BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 NON AREA SPECIFIC DORAL BREEZE MIDTOWN DORAL GRAND BAY NORTH & SOUTH FISCAL YEAR FISCAL YEAR FISCAL YEAR FISCAL YEAR FISCAL YEAR 2015/ / / / /2016 REVENUES BUDGET ITEMS BUDGET BUDGET BUDGET BUDGET Administrative Assessments 0 21, ,245 Maintenance Assessments 0 36, ,750 Direct Bill O&M Assessments , , ,965 Debt Assessments - A Bonds 0 878, ,956 Debt Assessments - A-1 Bonds , , ,424 Debt Assessments - A-2 Bonds , , ,446 Debt Assessments - B Bonds Developer Contribution - Debt ,230,475 2,230,475 Developer Assessments A Bonds Developer Assessments B Bonds Developer Assessments Bonds Other Revenues Interest Income TOTAL REVENUES $ 360 $ 937,029 $ 1,314,164 $ 2,979,428 $ 5,230,621 EXPENDITURES Maintenance Expenditures Preserve Area Maintenance/Upkeep 29,000 6,270 2,523 20,207 29,000 Maintenance Contingency 6,000 1, ,181 6,000 Lake Tract Aquatic Management - 3 Lakes (Doral Breeze) 0 4, ,250 Lawn/Landscape Service - Median Maintenance 21,000 4,540 1,827 14,633 21,000 Mulch/Fertilizer/Pesticide 12,000 2,594 1,044 8,362 12,000 Fountains - MTE & Power (Doral Breeze) 0 9, ,000 Roadway Maintenance/Lift Station/Drainage Maintenance , ,000 Electrical For Irrigation Pumps 0 1, ,700 3,500 Irrigation Repairs 0 1, ,100 4,200 Tree/Shrubbery Replacement 15,000 3,243 1,305 10,452 15,000 Annual Engineer's Report & Miscellaneous Engineering ,400 Total Maintenance Expenditures 83,000 34,545 54,371 62, ,350 Administrative Expenditures Management 31,500 6,810 2,741 21,949 31,500 Field Operations 4, ,136 4,500 Legal 24,000 5,189 2,088 16,723 24,000 Assessment Roll 10,000 2, ,968 10,000 Audit Fees 6,000 1, ,181 6,000 Arbitrage Rebate Fee ,000 2,000 Insurance 8,400 1, ,853 8,400 Legal Advertisements 1, ,045 1,500 Miscellaneous 2, ,742 2,500 Postage Office Supplies 1, ,045 1,500 Dues & Subscriptions Trustee Fee 0 4,500 5,000 15,000 24,500 Continuing Disclosure Fee 0 1,000 1,500 2,000 4,500 Website Management 1, ,045 1,500 Property Taxes 3, ,090 3,000 Total Administrative Expenditures 94,975 26,534 15,263 84, ,975 TOTAL EXPENDITURES $ 177,975 $ 61,078 $ 69,634 $ 146,613 $ 277,325 REVENUES LESS EXPENDITURES $ 875,951 $ 1,244,530 $ 2,832,815 $ 4,953,296 Bond Payments (A) (826,219) 0 (45,925) $ (872,144) Bond Payments (A-1) 0 (593,674) (332,625) $ (926,299) Bond Payments (A-2) 0 (576,184) (233,575) $ (809,759) Bond Payments (B) 0 0 (2,184,550) $ (2,184,550) BALANCE $ 49,732 $ 74,672 $ 36,140 $ 160,544 County Appraiser & Tax Collector Fee (18,739) (24,891) (12,047) $ (55,677) Discounts For Early Payments (37,479) (49,781) (24,094) $ (111,354) EXCESS/ (SHORTFALL) $ (6,486) $ 0 $ (0) $ (6,486) Carryover From Prior Year 6, ,486 NET EXCESS/ (SHORTFALL) $ (0) $ 0 $ (0) $ (0) Percentages Of Non-Area Specific Doral Breeze Midtown Doral Grand Bay North Grand Bay South Expenditures Per Area Acres % Acres % Acres % Acres % North & South Combined: Acres % I Page 15

18 BUDGET COMPARISON GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET Administrative Assessments 101,647 96,626 21,245 Maintenance Assessments 85,720 85,053 36,750 Direct Bill O&M Assessments ,965 Debt Assessments - A Bonds 884, , ,956 Debt Assessments - A-1 Bonds ,424 Debt Assessments - A-2 Bonds ,446 Debt Assessments - B Bonds Developer Contribution - Debt 0 0 2,230,475 Developer Assessments A Bonds 2,749,920 1,795,400 0 Developer Assessments B Bonds 9,238,615 2,836,900 0 Developer Assessments Bonds 486, Other Revenues 48, Interest Income TOTAL REVENUES $ 13,595,410 $ 5,692,125 $ 5,230,621 EXPENDITURES Maintenance Expenditures Preserve Area Maintenance/Upkeep 26,652 31,800 29,000 Maintenance Contingency 4,148 4,000 6,000 Miscellaneous Maintenance 46,964 11,000 0 Lake Tract Aquatic Management - 3 Lakes (Doral Breeze) 3,600 4,250 4,250 Lawn/Landscape Service - Median Maintenance 11,986 16,350 21,000 Mulch/Fertilizer/Pesticide ,000 Fountains - MTE & Power (Doral Breeze) 0 0 9,000 Roadway Maintenance/Lift Station/Drainage Maintenance ,000 Electrical For Irrigation Pumps 414 2,500 3,500 Irrigation Repairs 0 2,500 4,200 Tree/Shrubbery Replacement 0 10,000 15,000 Annual Engineer's Report & Miscellaneous Engineering 857 5,000 2,400 Total Maintenance Expenditures 94,621 87, ,350 Administrative Expenditures Management 26,040 26,424 31,500 Field Operations 0 0 4,500 Legal 26,666 24,000 24,000 Assessment Roll 3,300 10,000 10,000 Audit Fees 5,000 5,100 6,000 Arbitrage Rebate Fee 1,000 1,000 2,000 Insurance 5,915 7,000 8,400 Legal Advertisements 6,560 1,250 1,500 Miscellaneous 3,500 1,750 2,500 Postage Office Supplies 1, ,500 Dues & Subscriptions Trustee Fee 14,069 14,500 24,500 Continuing Disclosure Fee 1,500 3,000 4,500 Website Management 0 0 1,500 Property Taxes 1,228 3,000 3,000 Total Administrative Expenditures 97,030 98, ,975 TOTAL EXPENDITURES $ 191,651 $ 185,799 $ 277,325 REVENUES LESS EXPENDITURES $ 13,403,759 $ 5,506,326 $ 4,953,296 Bond Payments (A) (4,078,322) (2,620,744) $ (872,144) Bond Payments (A-1) 0 0 $ (926,299) Bond Payments (A-2) 0 0 $ (809,759) Bond Payments (B) (9,238,615) (2,836,900) $ (2,184,550) BALANCE $ 86,822 $ 48,682 $ 160,544 County Appraiser & Tax Collector Fee (10,315) (21,194) $ (55,677) Discounts For Early Payments (40,091) (42,388) $ (111,354) EXCESS/ (SHORTFALL) $ 36,416 $ (14,900) $ (6,486) Carryover From Prior Year 0 14,900 6,486 NET EXCESS/ (SHORTFALL) $ 36,416 $ (0) Percentages Of Non-Area Specific Grand Bay North Grand Bay South Expenditures Per Area Acres % Acres % II Page 16

19 DORAL BREEZE FINAL BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET Administrative Assessments 25,886 21,488 21,245 Maintenance Assessments 35,340 37,334 36,750 Debt Assessments Bonds 884, , ,956 Developer Contribution - Debt 486, Other Revenues Interest Income TOTAL REVENUES $ 1,431,781 $ 936,874 $ 937,029 EXPENDITURES Maintenance Expenditures Preserve Area Maintenance/Upkeep 0 6,945 6,270 Maintenance Contingency 4, ,297 Miscellaneous Maintenance 0 5,500 0 Lake Tract Aquatic Management - 3 Lakes (Doral Breeze) 3,600 4,250 4,250 Lawn/Landscape Service - Median Maintenance 6,554 9,750 4,540 Mulch/Fertilizer/Pesticide 0 0 2,594 Fountains MTE & Power (Doral Breeze) 0 0 9,000 Electrical For Irrigation Pumps 414 1,500 1,200 Irrigation Repairs 0 1,500 1,350 Tree/Shrubbery Replacement 0 6,000 3,243 Annual Engineer's Report & Miscellaneous Engineering 0 2, Total Maintenance Expenditures 14,716 38,819 34,544 Administrative Expenditures Management 0 5,771 6,810 Field Operations Legal 0 5,242 5,189 Legal - Extraordinary 12, Assessment Roll 0 2,184 2,162 Audit Fees 0 1,114 1,297 Arbitrage Rebate Fee Insurance 0 1,529 1,816 Legal Advertisements Miscellaneous Postage Office Supplies Dues & Subscriptions Trustee Fee 4,069 4,500 4,500 Continuing Disclosure Fee 1,000 1,500 1,000 Website Management Property Taxes Total Administrative Expenditures 17,577 23,950 26,534 TOTAL EXPENDITURES $ 32,293 $ 62,769 $ 61,078 REVENUES LESS EXPENDITURES $ 1,399,488 $ 874,105 $ 875,951 Bond Payments (2012) (1,328,402) (825,344) (826,219) BALANCE $ 71,086 $ 48,761 $ 49,732 County Appraiser & Tax Collector Fee (9,095) (18,737) (18,739) Discounts For Early Payments (35,945) (37,474) (37,479) EXCESS/ (SHORTFALL) $ 26,046 $ (7,450) $ (6,486) Carryover From Prior Year 7,450 6,486 NET EXCESS/ (SHORTFALL) $ 26,046 $ - III Page 17

20 MIDTOWN FINAL BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET Administrative Assessments Maintenance Assessments Direct Bill O&M Assessments ,603 Debt Assessments A-1 Bonds ,568 Debt Assessments A-2 Bonds ,962 Developer Contribution Other Revenues Interest Income TOTAL REVENUES $ 1,314,164 EXPENDITURES Maintenance Expenditures Preserve Area Maintenance/Upkeep 0 0 2,523 Maintenance Contingency Miscellaneous Maintenance Lawn/Landscape Service - Median Maintenance 0 0 1,827 Mulch/Fertilizer/Pesticide 0 0 1,044 Roadway Maintenance/Lift Station/Drainage ,000 Electrical For Irrigation Pumps Irrigation Repairs Tree/Shrubbery Replacement 0 0 1,305 Annual Engineer's Report & Miscellaneous Engineering Total Maintenance Expenditures ,371 Administrative Expenditures Management 0 0 2,741 Field Operations Legal 0 0 2,088 Assessment Roll Audit Fees Arbitrage Rebate Fee Insurance Legal Advertisements Miscellaneous Postage Office Supplies Dues & Subscriptions Trustee Fee 0 0 5,000 Continuing Disclosure Fee 0 0 1,500 Website Management Property Taxes Total Administrative Expenditures ,263 TOTAL EXPENDITURES $ 69,634 REVENUES LESS EXPENDITURES $ 1,244,530 Bond Payments - Series 2014A (593,674) Bond Payments - Series 2014A (576,184) BALANCE $ 74,673 County Appraiser & Tax Collector Fee 0 0 (24,891) Discounts For Early Payments 0 0 (49,781) EXCESS/ (SHORTFALL) $ 0 Carryover From Prior Year NET EXCESS/ (SHORTFALL) $ 0 IV Page 18

21 GRAND BAY NORTH AND SOUTH FINAL BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET Administrative Assessments Maintenance Assessments Direct Bill O&M Assessments ,362 Debt Assessments A-1 Bonds ,856 Debt Assessments A-2 Bonds ,484 Developer Contribution - Debt 0 0 2,230,475 Other Revenues Interest Income TOTAL REVENUES $ 2,979,428 EXPENDITURES Maintenance Expenditures Preserve Area Maintenance/Upkeep ,207 Maintenance Contingency 0 0 4,181 Miscellaneous Maintenance Lawn/Landscape Service - Median Maintenance ,633 Mulch/Fertilizer/Pesticide 0 0 8,362 Electrical For Irrigation Pumps 0 0 1,700 Irrigation Repairs 0 0 2,100 Tree/Shrubbery Replacement ,451 Annual Engineer's Report & Miscellaneous Engineering Total Maintenance Expenditures ,434 Administrative Expenditures Management ,949 Field Operations 0 0 3,136 Legal ,723 Assessment Roll 0 0 6,968 Audit Fees 0 0 4,181 Arbitrage Rebate Fee 0 0 1,000 Insurance 0 0 5,853 Legal Advertisements 0 0 1,045 Miscellaneous 0 0 1,742 Postage Office Supplies 0 0 1,045 Dues & Subscriptions Trustee Fee ,000 Continuing Disclosure Fee 0 0 2,000 Website Management 0 0 1,045 Property Taxes 0 0 2,091 Total Administrative Expenditures ,179 TOTAL EXPENDITURES $ 146,613 REVENUES LESS EXPENDITURES $ 2,832,815 Bond Payments - Series 2007A 0 0 (45,925) Bond Payments - Series 2014A (332,625) Bond Payments - Series 2014A (233,575) Bond Payments - Series 2007B 0 0 (2,184,550) BALANCE $ 36,140 County Appraiser & Tax Collector Fee 0 0 (12,047) Discounts For Early Payments 0 0 (24,094) EXCESS/ (SHORTFALL) $ (0) Carryover From Prior Year NET EXCESS/ (SHORTFALL) $ (0) V Page 19

22 DETAILED FINAL DEBT SERVICE FUND ( DORAL BREEZE) BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income Projected Interest For 2015/2016 NAV Tax Collection 842, , , P & I Payments Less Earned Interest 0 0 Total Revenues $ 842,432 $ 825,444 $ 826,219 EXPENDITURES Principal Payments 155, , ,000 Principal Payment Due In 2016 Interest Payments 658, , ,219 Interest Payments Due In 2016 Total Expenditures $ 813,128 $ 825,444 $ 826,219 Excess/ (Shortfall) $ 29,304 $ - Series 2012 (Doral Breeze) Bond Information Original Par Amount = $11,625,000 Annual Principal Payments Due = November 1st Interest Rate = 5.13% Annual Interest Payments Due = May 1st & November 1st Issue Date = October 2012 Maturity Date = November 2042 VI Page 20

23 DETAILED FINAL DEBT SERVICE FUND ( MIDTOWN) BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income (A-1) Projected Interest For 2015/2016 Interest Income (A-2) Projected Interest For 2015/2016 NAV Tax Collection 0 0 1,169, P & I Payments Less Earned Interest 0 0 Total Revenues $ 1,169,908 EXPENDITURES Principal Payments - Series 2014A ,000 Principal Payment Due In 2016 Principal Payments - Series 2014A ,000 Principal Payment Due In 2016 Interest Payments - Series 2014A ,699 Interest Payments Due In 2016 Interest Payments - Series 2014A ,209 Interest Payments Due In 2016 Total Expenditures $ 1,169,908 Excess/ (Shortfall) $ - Series (Midtown) Bond Information Original Par Amount = $8,390,000 Annual Principal Payments Due = May 1st Interest Rate = 5.25% % Annual Interest Payments Due = May 1st & November 1st Issue Date = October 2014 Maturity Date = May 2045 Series (Midtown) Refunding Bond Information Original Par Amount = $7,095,000 Annual Principal Payments Due = May 1st Interest Rate = 5.875% - 6.5% Annual Interest Payments Due = May 1st & November 1st Issue Date = October 2014 Maturity Date = May 2039 VII Page 21

24 DETAILED FINAL DEBT SERVICE FUND ( NORTH) BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income (A-1) Projected Interest For 2015/2016 Interest Income (A-2) Projected Interest For 2015/2016 NAV Tax Collection , P & I Payments Less Earned Interest 0 0 Total Revenues $ 566,250 EXPENDITURES Principal Payments - Series 2014A ,000 Principal Payment Due In 2016 Principal Payments - Series 2014A ,000 Principal Payment Due In 2016 Interest Payments - Series 2014A ,650 Interest Payments Due In 2016 Interest Payments - Series 2014A ,600 Interest Payments Due In 2016 Total Expenditures $ 566,250 Excess/ (Shortfall) $ - Series (North) Bond Information Original Par Amount = $5,450,000 Annual Principal Payments Due = May 1st Interest Rate = 4.00% % Annual Interest Payments Due = May 1st & November 1st Issue Date = November 2014 Maturity Date = May 2044 Series (North) Refunding Bond Information Original Par Amount = $3,295,000 Annual Principal Payments Due = May 1st Interest Rate = 4.00% % Annual Interest Payments Due = May 1st & November 1st Issue Date = November 2014 Maturity Date = May 2039 VIII Page 22

25 DETAILED FINAL DEBT SERVICE FUND ( SOUTH) BUDGET GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/ / /2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income (A) Projected Interest For 2015/2016 Interest Income (B) Projected Interest For 2015/2016 Payment By Developer (A Bonds) 2,749,920 1,795,400 45, P & I Payments Less Earned Interest Payment By Developer (B Bonds) 9,238,615 2,836,900 2,184, Interest Payments Less Earned Interest Total Revenues $ 11,988,602 $ 4,632,600 $ 2,230,600 EXPENDITURES Principal Payments (A) 280,000 1,375,500 10,000 Principal Payment Due In 2016 Principal Payments (B) No Principal Payment Due In 2016 Interest Payments (A) 2,469, ,000 36,000 Interest Payments Due In 2016 Interest Payments (B) 9,238,615 2,837,100 2,184,600 Interest Payments Due In 2016 Miscellaneous Expenditures 4, Miscellaneous Expenditures Total Expenditures $ 11,992,758 $ 4,632,600 $ 2,230,600 Excess/ (Shortfall) $ (4,156) $ - Series 2007A Bond Information (Current Principal Balance = $615,000) Original Par Amount = $18,335,000 Annual Principal Payments Due = May 1st Interest Rate = 6.00% Annual Interest Payments Due = May 1st & November 1st Issue Date = August 2007 Maturity Date = May 2039 Series 2007B Bond Information (Current Principal Balance = $36,410,000) Original Par Amount = $74,730,000 Principal Payments Due = May 1, 2017 Interest Rate = 6.00% Annual Interest Payments Due = May 1st & November 1st Issue Date = August 2007 Maturity Date = May 2017 IX Page 23

26 Grand Bay At Doral Community Development District Assessment Comparison - Doral Breeze (Series 2012) Original Fiscal Year Fiscal Year Fiscal Year Projected Debt 2013/ / /2016 Assessment Assessment Assessment Projected Assessment Before Discount* Before Discount* Before Discount* Before Discount* O & M Condominiums $ $ $ Debt For Condominiums $ 1, $ 1, $ 1, $ 1, Total For Condominiums $ 1, $ 1, $ 1, $ 1, O & M For Townhomes $ $ $ Debt For Townhomes $ 1, $ 1, $ 1, $ 1, Total For Townhomes $ 1, $ 1, $ 1, $ 1, O & M For Single Family 40' $ $ $ Debt For Single Family 40' $ 1, $ 1, $ 1, $ 1, Total For Single Family 40' $ 1, $ 1, $ 1, $ 1, O & M For Single Family 50' $ $ $ Debt For Single Family 50' $ 2, $ 2, $ 2, $ 2, Total For Single Family 50' $ 2, $ 2, $ 2, $ 2, * Assessments Include the Following : 4% Discount for Early Payments 1% County Tax Collector Fee 1% County Property Appraiser Fee Community Information: Condominiums Acres Townhomes % Of District Single Family 40' 138 Single Family 50' 122 Total Doral Breeze Units 541 X Page 24

27 Grand Bay At Doral Community Development District Assessment Comparison - Midtown (Series 2014) Original Fiscal Year Fiscal Year Fiscal Year Projected 2013/ / /2016 Assessment Assessment Assessment Projected Assessment Before Discount* Before Discount* Before Discount* Before Discount* 3 Bedroom Condo - Type 2 O & M Assessment $ * Debt Assessment A-1 $ 1, $ 1, Debt Assessment A-2 $ $ Total For 3 Bedroom Condo - Type 2 $ 1, $ 1, Bedroom Condo - Type 2 O & M Assessment $ * Debt Assessment A-1 $ 1, $ 1, Debt Assessment A-2 $ $ Total For 2 Bedroom Condo - Type 2 $ 1, $ 1, Bedroom Condo - Type 2 O & M Assessment $ * Debt Assessment A-1 $ $ Debt Assessment A-2 $ $ Total For 1 Bedroom Condo - Type 2 $ 1, $ 1, Bedroom Condo - Type 1 O & M Assessment $ * Debt Assessment A-1 $ 1, $ 1, Debt Assessment A-2 $ $ Total For 3 Bedroom Condo - Type 1 $ 1, $ 1, Bedroom Condo - Type 1 O & M Assessment $ * Debt Assessment A-1 $ $ Debt Assessment A-2 $ $ Total For 2 Bedroom Condo - Type 1 $ 1, $ 1, Bedroom Condo - Type 1 O & M Assessment $ * Debt Assessment A-1 $ $ Debt Assessment A-2 $ $ Total For 1 Bedroom Condo - Type 1 $ 1, $ 1, Non-Residential (Based On Square Footage) O & M Assessment $ * Debt Assessment A-1 $ 1.07 $ Debt Assessment A-2 $ 0.34 $ Total For Non-Residential $ 1.47 $ * Assessments Include the Following : * O&M For 2015/2016 To Be Assessed Via Direct Bill 4% Discount for Early Payments 1% County Tax Collector Fee O&M Covenant = % County Property Appraiser Fee 55.00/.94 = Community Information: Total Midtown Units (A2) Phase One Units (A1) Total Midtown Units (Refunding Bonds) (Phase One Project Bonds) 3 Bedroom Condo - Type Bedroom Condo - Type Bedroom Condo - Type Bedroom Condo - Type Bedroom Condo - Type Bedroom Condo - Type Total Residential Units Non-Residential 210,000 69,280 Square Feet Square Feet For Administrative & Maintenance Assessments Purposes- Non-Residential counts as approximately 210 units Acres 8.7% Of District XI Page 25

28 Grand Bay At Doral Community Development District Assessment Comparison - Grand Bay North (Series 2014) Original Fiscal Year Fiscal Year Fiscal Year Projected Debt 2013/ / /2016 Assessment Assessment Assessment Projected Assessment Before Discount* Before Discount* Before Discount* Before Discount* Single Family 40' Unit O & M Assessment $ * Debt Assessment A-1 $ 1, $ 1, Debt Assessment A-2 $ $ Total For Single Family 40' Unit $ 2, $ 2, Townhome Unit O & M Assessment $ * Debt Assessment A-1 $ 1, $ 1, Debt Assessment A-2 $ $ Total For Townhome Unit $ 1, $ 1, Condo Unit (3-Story) O & M Assessment $ * Debt Assessment A-1 $ $ Debt Assessment A-2 $ $ Total For Condo Unit (3-Story) $ 1, $ 1, * Assessments Include the Following : * O&M For 2015/2016 To Be Assessed Via Direct Bill 4% Discount for Early Payments 1% County Tax Collector Fee O&M Covenant = % County Property Appraiser Fee /.94 = Community Information: Total North Units Acres A-1: Project Bonds 21.33% Of District A-2: Refunding Bonds Single Family 40' Unit 64 North - South Acreages N & S Acreages Percentages Townhome Unit 172 North Acres North 30.61% Condo Unit (3-Story) 111 South South 69.39% Total Residential Units 347 North & South Acres North & South % XII Page 26

29 Grand Bay At Doral Community Development District - Grand Bay South Assessment Comparison Original Fiscal Year Fiscal Year Fiscal Year Projected Debt 2013/ / /2016 Assessment Assessment Assessment Projected Assessment Before Discount* Before Discount* Before Discount* Before Discount* O & M Midrise Condos 0* Debt For Midrise Condos $ - Total For Midrise Condos $ 1, $ - O & M 3 Story Condos 0* Debt For 3 Story Condos $ - Total For 3 Story Condos $ 1, $ - O & M For Pin Wheels 0* Debt For Pin Wheels $ - Total For Pin Wheels $ 1, $ - O & M For Townhomes 22' 0* Debt For Townhomes 22' $ - Total For Townhomes 22' $ 1, $ - O & M For Single Family 40' 0* Debt For Single Family 40' $ - Total For Single Family 40' $ 2, $ - O & M For Single Family 65' 0* Debt For Single Family 65' $ - Total For Single Family 65' $ 2, $ - O & M For Single Family Courtyards 0* Debt For Single Family Courtyards $ - Total For Single Family Courtyards $ 2, $ - * Assessments Include the Following : 4% Discount for Early Payments 1% County Tax Collector Fee * O&M For 2015/2016 To Be Assessed Via Direct Bill 1% County Property Appraiser Fee O&M Covenant = Community Information: /.94 = Total South Units Acres Midrise Condo % Of District 3 Story Condo 198 Pin Wheel 238 North - South Acreages N & S Acreages Percentages TH 22" 132 North Acres North 30.61% Single Family South South 69.39% Single Family North & South Acres North & South % Single Family Courtyards 165 Total Residential Units 1183 XIII Page 27

30 AGREEMENT FOR MAINTENANCE OF LANDSCAPING WITHIN THE CITY'S RIGHT-OF-WAY This Agreement is made an entered into this day of, 2015 (the "Effective Date"), by and between the CITY OF DORAL, a municipal corporation of the State of Florida (the "City"), and the GRAND BAY COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes (the "District"). RECITALS WHEREAS, as part of the development of the Grand Bay developments ( Grand Bay ), Flordade, LLC (the "Developer") has requested that certain landscaping improvements be installed within the median of the NW 88 Street right-of-way between NW 102 Avenue and NW 107 Avenue consisting of fifty-two (52) Acer rubrum, twenty-four (24) Aechmea blanchettiana, six hundred forty-two (642) Pentas lanceolata, three thousand three hundred thirty-nine (3,339) Ficus microcarpa, eight hundred forty-one (841) Pittosporum tobira, sixty-five (65) Jasminum volubile, and one hundred ninety-two (192) Duranta erecta (collectively, the "Median Improvements"); WHEREAS, the Developer may seek payment for installation of the Median Improvements through the proceeds obtained by the District in connection with the District's bond issuance; WHEREAS, once installed by the Developer and accepted by the City, the Developer shall convey the Median Improvements to the District and the District shall, immediately thereafter, convey the appropriate amount of bond issuance proceeds to the Developer for installation of the Median Improvements; WHEREAS, the District has agreed to assume the maintenance responsibility for the Median Improvements; WHEREAS, the City and the District desire to ensure that the Median Improvements are regularly maintained by periodic trimming, cutting, weeding, mowing, fertilizing, litter pick-up, necessary replanting, and irrigation repairs within the medians; WHEREAS, the District has agreed to maintain the Median Improvements referenced in this Agreement as part of its regular landscape maintenance responsibilities; and NOW THEREFORE, in consideration of the mutual covenants herein contained, and for other good and valuable consideration, receipt, sufficiency, and adequacy of which is hereby acknowledged, and subject to the terms and conditions hereof, the parties to this Agreement agree as follows: Page 28

31 1. Recitals. The above recitals are deemed true and correct to the best of the knowledge of the parties and are incorporated into this Agreement. 2. Description of Median Improvements. As defined hereinabove, the Median Improvements shall consist of fifty-two (52) Acer rubrum, twenty-four (24) Aechmea blanchettiana, six hundred forty-two (642) Pentas lanceolata, three thousand three hundred thirty-nine (3,339) Ficus microcarpa, eight hundred forty-one (841) Pittosporum tobira, sixty-five (65) Jasminum volubile, and one hundred ninety-two (192) Duranta erecta to be planted within the median of the NW 88 Street right-of-way between NW 102 Avenue and NW 107 Avenue. 3. Maintenance of Median Improvements. The District agrees to maintain the landscape and irrigation within the Median Improvements by periodic trimming, cutting, weeding, mowing, fertilizing, irrigation repairs, curb edging, litter pick-up, and necessary replanting (the Maintenance Services ). The District s responsibility for maintenance shall include all landscaped areas located within the Median Improvements. The intent and purpose is to continue landscape maintenance for an appearance of the same high quality as presently exists. a. The Maintenance Services to be provided by the District are as follows: i. To maintain, which means proper watering and fertilization of all plants and keeping them as free as practicable from disease and harmful insects; and ii. iii. iv. To properly mulch the plant beds; and To keep the Medians free of weeds and litter; and To mow and cut the grass to a proper length; and v. To properly prune all plants, including the removal of dead or diseased parts of plants; and vi. All plants removed for whatever reason shall, when reasonably practicable, be replaced by plants of similar size and grade as specified in the original plans and specifications. vii. Plants shall be those items which would be scientifically classified as plants and include but are not limited to trees, grass, groundcovers, and shrubs. viii. It is understood by the parties that Maintenance Services shall not include the maintenance, repair, or replacement of any median curbing, curb and gutter, road surface, asphalt, concrete, brick pavers, or roadway drainage facilities, of any kind or type, unless such repair or replacement to these areas is necessary due to damage caused during the performance of landscape maintenance activities and/or the use of landscape maintenance equipment, or resulting from plant materials or tree roots. # _v6 2 Page 29

32 b. The District and the City acknowledge that the Developer will be responsible for the installation of utilities (irrigation systems/electricity) for services benefiting the Median Improvements. The District shall be responsible for the maintenance, repair, and/or replacement of such facilities, as necessary, to keep utilities in good working order, including the costs and expense associated therewith. c. The District shall provide, and be solely responsible for all costs and expenses that are associated with or arise out of, the Maintenance Services for the Median Improvements as provided in his Agreement. d. The Maintenance Services shall be provided by the District in strict compliance with all governmental entities and agencies permits, requirements, rules, acts, statutes, ordinances, orders, regulations and restrictions, including but not limited to the following entities, if applicable, (a) the Grand Bay at Doral Community Development District; (b) the Florida Department of Transportation; (c) Miami-Dade County, Florida; and (d) the City of Doral, Florida. e. The Median Improvements are subject to periodic inspections by the City at the sole discretion of the City. Such inspection findings shall be shared with the District within five (5) business days of the inspection. f. The District shall not change or deviate from the original plans and specifications for the Median Improvements without the prior written approval of the City Manager of City. g. The Maintenance Services shall be provided by the District in a competent and professional manner using qualified and experienced employees or licensed contractors with such frequency as is necessary and reasonable in the industry, at the same level or better as that which the City provides landscape maintenance to its rights-of-way, and under the circumstances in order to ensure that the Median Improvements are properly maintained and continue to function with their intended purpose. h. The District shall timely pay all invoices, or other manner of billing, for all persons or entities with whom the District may have contracted or arranged to provide services or materials in fulfillment of its obligations under this Agreement, including the City as provided for herein. i. The District shall be deemed to have a right of entry agreement over and on the Median Improvements for the purpose of performing the aforedescribed maintenance. 4. Removal or Relocation of Landscaping in Medians. It is understood by the parties that the landscape materials and improvements, or any portion thereof, within the Median Improvements, as described herein and which are the subject of this Agreement may be removed, relocated, or adjusted at any time in the future as determined necessary by the City in its sole and absolute discretion and at the cost of the District. City shall provide # _v6 3 Page 30

33 District with at least thirty (30) days written notice of City s demand to remove, relocate, or adjust the landscape materials or improvements, or any portion thereof, within the Median Improvements. Any permits (including tree permits), fees, and mitigation associated with the removal, relocation or adjustments of these landscape materials and improvements shall be the responsibility of the District; however, the City shall assist as reasonably as necessary with respect to obtaining such permits. Upon completion of any removal, relocation or adjustment of landscape materials pursuant to this paragraph, District shall immediately resume maintenance activities as required herein. However, any additions or changes to the Median Improvements that have the effect of materially increasing the maintenance cost to any of the parties to this Agreement shall first be approved in writing by the District prior to installation or construction of such additions or changes. 5. Enforcement. If at any time it shall come to the attention of the City Manager of City that the Median Improvements are not being maintained pursuant to the terms of this Agreement, the City Manager may, at his/her option issue a written notice that a deficiency or deficiencies exist(s), by sending a certified letter to the District, to place the District on notice thereof. Thereafter, the District shall have ninety (90) calendar days to correct the cited deficiency or deficiencies. If said deficiencies are not corrected within this time period, the City may, at its option, maintain the Median Improvements or any part thereof, utilizing City personnel or contractors, and invoice the District for the actual expenses incurred. Such invoice shall be paid to the City by the District within thirty (30) days. The use of this option shall not preclude the City from exercising any other option set forth herein or otherwise available at law or equity. The City may also enforce this obligation through injunctive relief if it chooses, in its sole discretion, and the District acknowledges that the failure to maintain the Median Improvements in accordance herewith shall cause irreparable harm to the City. 6. Notice. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing (including facsimile) and shall be (as elected by the person giving such notice) hand delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses: AS TO THE CITY: AS TO THE DISTRICT: City of Doral 8401 NW 53 Terrace Doral, Florida Attention: City Manager Grand Bay at Doral Community Development District 6625 Miami Lakes Drive, Suite 373 Miami Lakes, Florida Attention: District Manager # _v6 4 Page 31

34 With a copy to: Billing, Cochran, Lyles, Mauro & Ramsey, P.A. SunTrust Center, Sixth Floor 515 East Las Olas Boulevard Fort Lauderdale, Florida Attention: Dennis E. Lyles, Esq. 7. Indemnification. a. To the extent permitted by law, the District does hereby indemnify and hold the City harmless of and from any and all loss or liability that the City may sustain or incur by reason of the District s assumption or performance of the Maintenance Services for the Median Improvements, including any that may result from or arise out of the District s misfeasance, malfeasance, non-feasance, negligence or failure to carry out its obligations under this Agreement, with said indemnification and hold harmless to include but not be limited to: (A) direct costs and damages and (B) any and all injuries or damages sustained by persons or damage to property, including such reasonable attorney s fees and costs (including appellate, arbitration, or mediation) that may be incurred by the City that relate thereto. Provided, however, it is understood that this section does not (i) indemnify the City to the extent a claim is caused by the wrongful acts, omissions or negligence of City. b. To the extent permitted by law, the City does hereby indemnify and hold the District harmless of and from any and all loss or liability that the District may sustain or incur by reason of the City s assumption or performance of the Maintenance Services for the Median Improvements, including any that may result from or arise out of the City s misfeasance, malfeasance, non-feasance, negligence or failure to carry out its obligations under this Agreement, with said indemnification and hold harmless to include but not be limited to: (A) direct costs and damages and (B) any and all injuries or damages sustained by persons or damage to property, including such reasonable attorney s fees and costs (including appellate, arbitration, or mediation) that may be incurred by the District that relate thereto. Provided, however, it is understood that this section does not (i) indemnify the District to the extent a claim is caused by the wrongful acts, omissions or negligence of District. c. Nothing herein shall waive any part of the City s or the District s sovereign immunity. 8. Termination. In addition to the rights and methods of termination established pursuant to any other provision of this Agreement, the City may terminate this Agreement at any time for any reason in its sole discretion by providing at least thirty (30) days written notice to the District of its intent to terminate this Agreement pursuant to this provision. Should the City terminate this Agreement as set forth herein, the City shall thereafter be responsible for the maintenance of the Median Improvements. The District shall not be permitted to cancel or terminate this Agreement for any reason without the written consent of the City; the sole remedy of District as against City shall be for injunctive relief. # _v6 5 Page 32

35 9. Term of Agreement. This Agreement shall be effective for ten (10) years and thereafter shall renew automatically for extension terms of five (5) years each, unless otherwise terminated by mutual agreement of the parties. Should this Agreement be declared unenforceable against the District or, upon the termination of this Agreement as between the City and District, for any reason (including the end of its natural term without renewal), then in that event, the ownership of the Median Improvements (together with responsibility for maintenance) shall revert back to the District (or the successor to the District). The parties agree to execute such documents as are necessary to implement this reversion and assure such maintenance. 10. Binding Effect. The undersigned further agrees that these conditions shall be deemed an agreement running with the land in favor of the City and shall remain in full force and effect and be binding on the undersigned, his/their heirs and assigns, until such time as this obligation has been cancelled by and affidavit filed in the Public Records of Miami- Dade County, Florida by the Director of the City's Public Works Department (or his fully authorized representative). 11. Entire Agreement. The parties agree that this instrument embodies the complete understanding of the parties with respect to the subject matter of this Agreement and supersedes all other agreements, verbal or otherwise. This Agreement contains the entire understanding between the parties and each agrees that no representation was made by or on behalf of the other that is not contained in this Agreement, and that in entering into this Agreement neither party relied upon any representation not herein contained. 12. Amendment and Waiver. This Agreement may be amended only by a written instrument signed by both parties. If any party fails to enforce their respective rights under this Agreement, or fails to insist upon the performance of the other party s obligations hereunder, such failure shall not be construed as a permanent waiver of any rights as stated in this Agreement. 13. Severability. The parties agree that if any part, term or provision of this Agreement is held to be illegal or in conflict with any law of the State of Florida or with any federal law or regulation, such provision shall be severable, with all other provisions remaining valid and enforceable. 14. Controlling Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. In the event of a conflict between any portion of this Agreement and Florida law, the laws of Florida shall prevail. 15. Authority. 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 Agreement. 16. Costs and Fees. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that to the extent permitted by # _v6 6 Page 33

36 applicable law, the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorney s fees and costs for trial, alternate dispute resolution, or appellate proceedings. 17. Successors and Assignment. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of the District and the City, their successors and assigns, and shall likewise burden each party according to the terms hereof. This Agreement may not be assigned, in whole or in part of all parties, and such written consent shall not be unreasonably withheld. 18. No 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, except as expressly stated herein. 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, except as expressly stated herein. 19. Arm s Length Transaction. This Agreement has been negotiated fully between the parties in 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 deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party. 20. Execution of Documents. Each party covenants and agrees that it will at any time and from time to time do such acts and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such documents reasonably requested by the parties necessary to carry out fully and effectuate the transaction or performance herein contemplated. 21. Construction of Terms. Whenever used, the singular number shall include the plural, the plural the singular; and the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires. 22. Captions. The captions for each section of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope of intent of this Agreement, or the intent of any provision hereof. 23. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be and be taken to be an original and all collectively deemed one instrument. # _v6 7 Page 34

37 Signed, sealed, executed and acknowledged on this day of, 2015 in Miami-Dade County, Florida. Signed, Sealed, Attested and Delivered in our presence (2 witnesses for each signature or for all) Witness Printed Name Witness Printed Name GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT By: Its Chairperson/Vice-Chairperson Printed Name Witness Printed Name Witness Printed Name STATE OF FLORIDA ) ) COUNTY OF MIAMI-DADE ) Attest: Secretary/Assistant Secretary Printed Name I HEREBY CERTIFY, that on this day of, 2015, before me, an officer duly authorized to administer oaths and take acknowledgments, personally appeared the Chairperson/Vice-Chairperson of the Board of Supervisors of the Grand Bay Community Development District and the Secretary/Assistant Secretary of the Grand Bay Community Development District, each personally known to me, or proven, by producing the following identification:, and in whose name the foregoing instrument is executed and that said officer(s) severally acknowledged before me that executed said instrument acting under the authority duly vested by said corporation and its Corporate Seal is affixed thereto. WITNESS my hand and official seal in the County and State aforesaid, the day and the year aforesaid. NOTARY SEAL/STAMP Notary Signature Printed Name of Notary Notary Public, State of Florida My commission expires: Commission/Serial No. # _v6 8 Page 35

38 ATTEST: City Clerk CITY OF DORAL, FLORIDA, a municipal corporation, existing under the laws of the State of Florida By: City Manager APPROVED AS TO FORM: City Attorney State of Florida } County of Miami-Dade } The foregoing instrument was acknowledged before me, the undersigned Notary Public in and for the State of Florida, on this, the day of, 2015, by the City Manager, City Clerk and Mayor, respectively. NOTARY PUBLIC Notary Public, State of Florida SEAL OF OFFICE Printed, typed or stamped name of Notary Public exactly as commissioned Individuals who signed are personally known: no identification produced # _v6 9 Page 36

39 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT ORDERING AND CALLING FOR A LANDOWNERS MEETING AND PUBLIC NOTICE THEREOF FOR THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT S ELECTION OF MEMBERS TO THE BOARD OF SUPERVISORS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Grand Bay at Doral Community Development District ( District ) was established by Ordinance # & #08-12 of the Board of County Commissioners of Miami-Dade County, Florida, pursuant to Chapter 190, Florida Statutes; and WHEREAS, as outlined in Chapter 190, Section (2)(b), Florida Statutes, a landowners election shall be announced at a public meeting of the Board at least ninety (90) days prior to the date of the landowners meeting, which meeting shall be for the purpose of electing three (3) supervisors; and WHEREAS, at such meeting, each landowner shall be entitled to cast one (1) vote per acre (or fraction thereof) or one (1) vote for each platted lot of land owned and located within the District for each person to be elected; and WHEREAS, the two (2) candidates receiving the highest number of votes shall serve for a four (4) year term and the one (1) candidate receiving the next largest number of votes shall serve for a two (2) year term; and WHEREAS, a Notice of the Landowners Meeting shall be published once a week for two consecutive weeks in a newspaper of general circulation in the area of the District, the last day of such publication to be not fewer than 14 days or more than 28 days before the date of the election. WHEREAS, attached hereto as Exhibit A and made a part hereof are (i) instructions (Election Procedures) on how all landowners may participate in the election, (ii) sample proxy that may be utilized by the landowners at such meeting; and (iii) a sample ballot form for information purposes. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT, THAT: Section 1. The above recitals are hereby adopted. Section 2. The Landowners Meeting will be held on November 18, 2015 at 10:00 a.m. in the Meeting Room of Lennar Homes, LLC located at 730 N.W. 107 th Avenue, 3 rd Floor, Suite 300, Miami, Florida Section 3. The instructions (Election Procedures), the sample proxy form and sample ballot form attached hereto as Exhibit A are hereby acknowledged and approved. Section 4. A Notice of Landowners Meeting shall be published as prescribed by law. PASSED, ADOPTED and EFFECTIVE this 22 nd day of July, ATTEST: GRAND BAY AT DORAL COMMUNITY DEVELOPMENT DISTRICT By: Secretary/Assistant Secretary By: Chairperson/Vice Chairperson Page 37

40 Special District Services, Inc. 1. Landowners Meeting SPECIAL DISTRICT (CDD) ELECTION PROCEDURES In accordance with the provisions of Chapter 190, Florida Statutes, it is required that an initial meeting of the Landowners of the District be held within ninety (90) days following the effective date of the rule or ordinance establishing the District and thereafter every two years during the month of November for the purpose of electing Supervisors. The second election by landowners shall be held on the first Tuesday in November; thereafter, there shall be an election of supervisors every two years in November on a date established by the Board of Supervisors. The assembled Landowners shall organize by electing a Chairperson, who shall preside over the meeting; and a Secretary shall also be elected for recording purposes. 2. Establishment of Quorum Any Landowner(s) present or voting by proxy shall constitute a quorum at the meeting of the Landowners. 3. Nomination of Candidates At the meeting, the Chairperson shall call for nominations from the floor for Candidates for the Board of Supervisors. When there are no further nominations, the Chairperson shall close the floor for nominations. The names of each Candidate and the spelling of their names shall be announced. Nominees need not be present to be nominated. 4. Voting Each Landowner shall be entitled to cast one vote for each acre (or lot parcel), or any fraction thereof, of land owned by him or her in the District, for each open position on the Board. (For example, if there are three positions open, an owner of one acre or less (or one lot parcel) may cast one vote for each of the three positions. An owner of two acres (or two lot parcels) may cast two votes for each of the three positions.) Each Landowner shall be entitled to vote either in person or by a representative present with a lawful written proxy. 5. Registration for Casting Ballots The registration process for the casting of ballots by Landowners or their representatives holding their proxies shall be as follows: At the Landowners Meeting and prior to the commencement of the first casting of ballots for a Board of Supervisor position, each Landowner, or their representative if proxies are being submitted in lieu thereof, shall be directed to register their attendance and the total number of votes by acreage (or lot parcels) to which each claims to be entitled, with the elected Secretary of the meeting or the District s Manager. Corporate Office The Oaks Center 2501A Burns Rd Palm Beach Gardens, FL Direct: Contact Information Toll Free: Fax: Web: Miami Branch Crexent Business Center 6625 Miami Lakes Drive, Ste. 312 Miami Lakes, FL Direct: Ext.1094 & 1095 Page 38

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