GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING MAY 22, 2014

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT BOARD OF SUPERVISORS MEETING MAY 22, 2014

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT AGENDA MAY 22, 2014-11:30 a.m. Concorde Estates Clubhouse 3151 Georgian Bay Lane Kissimmee, FL 34769 District Board of Supervisors Glenn Marvin Board Supervisor, Chairman Bob Bishop Board Supervisor, Vice Chairman Tim Murray Board Supervisor, Assistant Secretary John Blakley Board Supervisor, Assistant Secretary David Jae Board Supervisor, Assistant Secretary District Manager Jeremy Needham Rizzetta & Company, Inc. District Counsel Wes Haber Hopping Green & Sams, P.A. District Engineer Tonja Stewart Wilson Miller, Stantec Consulting Services, Inc. All Cellular phones and pagers must be turned off during the meeting. The District Agenda is comprised of five different sections: The meeting will begin promptly at 11:30 a.m. with the first section which is called Audience Comments. The Audience Comment portion of the agenda is where individuals may comment on matters that concern the District. Each individual is limited to three (3) minutes for such comment. The Board of Supervisors or Staff is not obligated to provide a response until sufficient time for research or action is warranted. IF THE COMMENT CONCERNS A MAINTENANCE RELATED ITEM, THE ITEM WILL NEED TO BE ADDRESSED BY THE DISTRICT MANAGER OUTSIDE THE CONTEXT OF THIS MEETING. The second section is called Staff Reports. This section allows the District Manager, Engineer, and Attorney to update the Board of Supervisors on any pending issues that are being researched for Board action. The third section is called Business Administration. The Business Administration section contains items that require the review and approval of the District Board of Supervisors as a normal course of business. The fourth section is called Business Items. The business items section contains items for approval by the District Board of Supervisors that may require discussion, motion and votes on an item-by-item basis. Occasionally, certain items for decision within this section are required by Florida Statute to be held as a Public Hearing. During the Public Hearing portion of the agenda item, each member of the public will be permitted to provide one comment on the issue, prior to the Board of Supervisors discussion, motion and vote. Agendas can be reviewed by contacting the Manager s office at (407) 472-2471 at least seven days in advance of the scheduled meeting. Requests to place items on the agenda must be submitted in writing with an explanation to the District Manager at least fourteen (14) days prior to the date of the meeting. The final section is called Supervisor Requests. This is the section in which the Supervisors may request Staff to prepare certain items in an effort to meet residential needs. Public workshops sessions may be advertised and held in an effort to provide informational services. These sessions allow staff or consultants to discuss a policy or business matter in a more informal manner and allow for lengthy presentations prior to scheduling the item for approval. Typically no motions or votes are made during these sessions. Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the District Office at (407) 472-2471, at least 48 hours before the meeting. If you are hearing or speech impaired, please contact the Florida Relay Service at 1 (800) 955-8770, who can aid you in contacting the District Office. Any person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that this same person will need a record of the 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 the appeal is to be based.

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 8529 SOUTH PARK CIRCLE SUITE 330 ORLANDO, FLORIDA 32819 Board of Supervisors Gramercy Farms Community Development District Dear Board Members: AGENDA May 14, 2014 The regular meeting of the Board of Supervisors of Gramercy Farms Community Development District will be held on Thursday, May 22, 2014, at 11:30 a.m. at the Concorde Estates Clubhouse, located at 3151 Georgian Bay Lane, Kissimmee, Florida 34746. Following is the agenda for this meeting. 1. CALL TO ORDER/ROLL CALL 2. AUDIENCE COMMENTS ON AGENDA ITEMS 3. STAFF REPORTS A. District Counsel B. District Engineer C. District Manager 4. BUSINESS ADMINISTRATION A. Consideration of the Minutes of the Board of Supervisors Meeting held April 24, 2014... Tab 1 B. Consideration of Operation & Maintenance April 2014... Tab 2 5. BUSINESS ITEMS A. Consideration of Resolution 2014-03, Proposed Budget and Setting the Public Hearing for Final Budget Fiscal Year 2014/2015... Tab 3 B. Consideration of Resolution 2014-04, Annual Meeting Schedule FY 2014-2015... Tab 4 C. Discussion Regarding November Landowner Election 1. Review Registered Voter Count as of April 15, 2014... Tab 5 2. Consideration of Resolution 2014-05, Designating Date, time and Location for Landowners Meeting (Review Sample Ad, Instructions, Proxy and Ballot)... Tab 6 D. Consideration of Property Appraiser Contract Regarding Uniform Method of Collection... Tab 7 E. Review of Lerner Reporting Dissemination Agent Agreement... Tab 8 F. Ratification of Requisitions #224 228, Series 2011... Tab 9 G. Review of American Ecosystems Reports... Tab 10 6. SUPERVISOR REQUESTS AND AUDIENCE COMMENTS 7. ADJOURNMENT I look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to contact me at (407) 472-2471. Very truly yours, Jeremy Needham Jeremy Needham District Manager

TAB 1

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT April 24, 2014 Minutes of Meeting Page 1 MINUTES OF MEETING Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that 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. GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of Gramercy Farms Community Development District was held on Thursday, April 24, 2014, at 11:30 a.m., at the Concorde Estates Clubhouse, located at 3151 Georgian Bay Lane, Kissimmee, Florida 34746. Present and constituting a quorum: Glenn Marvin Board Supervisor, Chairman Bob Bishop Board Supervisor, Vice Chairman John Blakley Board Supervisor, Assistant Secretary David Jae Board Supervisor, Assistant Secretary Also present were: Jeremy Needham District Manager, Rizzetta & Company, Inc. Wes Haber District Counsel, Hopping Green & Sams, P.A. (speakerphone) Tonja Stewart District Engineer, Stantec/WilsonMiller, Inc (speakerphone) Audience Members Not Present FIRST ORDER OF BUSINESS Call to Order Mr. Needham called the meeting to order and read the roll call. SECOND ORDER OF BUSINESS Audience Member Comments Regarding Agenda There were no audience member s comments regarding the agenda. THIRD ORDER OF BUSINESS Staff Reports A. District Counsel Mr. Haber stated that he worked with Mr. Bishop and Orlando Utilities Commission (OUC) representatives with respect to amending the service agreement to change the legal description so that it covers only the right-of-way where the poles are located instead of the entire community. He stated that in recent correspondence his firm received, OUC was reviewing the documents and would follow up with an update. Mr. Haber stated that he would update the Board when he received information from OUC.

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT April 24, 2014 Minutes of Meeting Page 2 Mr. Marvin asked if the right-of-way had been recorded on the second phase of the Boulevard. Mr. Haber replied Yes. Mr. Marvin asked if that meant that the improvements were accepted. Mr. Haber stated that it was sufficient to show acceptance of the improvement. Mr. Haber stated that his firm researched the public records and found that the City of St. Cloud recorded both the easements and the deed for the improvements that were conveyed to them. Mr. Haber stated that he received a proposal from Mr. Scott Campbell, with Lerner Reporting Services, LLC, to provide services as the District Dissemination Agent. Mr. Haber stated that the Dissemination Agent is an entity that records Bond related information on the necessary websites and also provides notice to Bond Holders for various issues. Mr. Haber stated that at the next Board meeting he would address this proposal from Lerner Reporting Services, LLC. B. District Engineer Mr. Marvin stated that Mr. Bishop was in contact with Hanson Walter & Associates, Inc. regarding flood plane matters. He stated that the City was reviewing documents in regards to the flood plane and that they were not able to submit anything to FEMA until the City responded. Mr. Marvin stated that the City requested that the flood way be identified on the FEMA maps. He stated that Hanson Walter & Associates were in the process of completing that task. Mr. Marvin was hoping to submit the requirements to FEMA in a week or two. Mr. Marvin asked that Hanson Walter & Associates review the inventory structure on site. He stated that there were some sanitary and storm drain structures that were being moved around at a cost. Mr. Marvin stated that it didn t appear that anyone wanted to use them and was inquiring with Hanson Walter & Associates to see if the inventory structures could be removed. C. District Manager Mr. Needham discussed a proposal from Concepts in Greenery for additional plant material at a total of $4,084.80. He also stated that he sent a Field Inspection Report to Concepts in Greenery and they responded saying they would address the issues. Brief discussion ensued regarding plants and landscaping. On a motion by Mr. Marvin, seconded by Mr. Blakley, with all in favor, the Board accepted the Concepts in Greenery proposal for landscape improvements, for $4,084.80 as a Change Order to Concepts in Greenery s existing contract for Gramercy Farms Community Development District.

FOURTH ORDER OF BUSINESS GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT April 24, 2014 Minutes of Meeting Page 3 Consideration of the Minutes of the Board of Supervisors Meeting held March 27, 2014 Mr. Needham stated that the minutes were reviewed by District Counsel. On a motion by Mr. Jae, seconded by Mr. Marvin, with all in favor, the Board approved the Minutes of the Board of Supervisors Regular Meeting held on March 27, 2014 for Gramercy Farms Community Development District. FIFTH ORDER OF BUSINESS Consideration of the Operation and Maintenance Expenditures for March 2014 Mr. Needham reviewed the expenditures with the Board of Supervisors. Mr. Marvin requested that Mr. Jae discuss the Dissemination Agent fee with Rizzetta & Company, Inc. On a motion by Mr. Jae, seconded by Mr. Marvin, with all in favor, the Board approved the Operation and Maintenance Expenditures for March 2014, pending negotiations on the annual Dissemination Agent fee with Rizzetta & Company, Inc ($14,987.13) for Gramercy Farms Community Development District. SIXTH ORDER OF BUSINESS Ratification of Requisitions #219-223, Series 2011 The Board of Supervisors reviewed the requisitions. There were no concerns. On a motion by Mr. Marvin, seconded by Mr. Bishop, with all in favor, the Board ratified Requisitions #219-223, Series 2011 for Gramercy Farms Community Development District. SEVENTH ORDER OF BUSINESS Supervisor Requests and Audience Comments There were no audience comments or Supervisor requests. Mr. Needham stated that the next meeting of the Board of Supervisors has been scheduled to be held on Thursday, May 22, 2014 at 11:30 a.m. at the Concorde Estates Clubhouse, located at 3151 Georgian Bay Lane, Kissimmee, Florida 34746. EIGHTH ORDER OF BUSINESS Adjournment On Motion by Mr. Marvin, seconded by Mr. Jae, with all in favor, the Board adjourned the Board of Supervisors Meeting at 12:05 p.m. for Gramercy Farms Community Development District. Assistant Secretary Chairman/Vice Chairman

TAB 2

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT DISTRICT OFFICE 8529 SOUTH PARK CIRCLE SUITE 330 ORLANDO, FLORIDA 32819 Operation and Maintenance Expenditures April 2014 For Board Approval Attached please find the check register listing the Operation and Maintenance expenditures paid from April 1, 2014 through April 30, 2014. This does not include expenditures previously approved by the Board. The total items being presented: $9,961.25 Approval of Expenditures: Chairman Vice Chairman Assistant Secretary

Gramercy Farms Community Development District Paid Operation & Maintenance Expenses April 1, 2014 Through April 30, 2014 10110 - Cash-Operating Account-SunTrust Vendor Name Check Number Invoice Number Invoice Description Invoice Amount Advanced Wildlife Trappers, LLC 0839 41514G.F. Wasp Nest Removal $ 100.00 American Ecosystems, Inc. 0841 1404166 Lake Maintenance 04/14 $ 665.00 City of St. Cloud 0840 Acct #176860-39375 02/14 City of St. Cloud 0840 Acct #176860-39375 03/14 Concepts In Greenery of Orlando, LLC 3040 Old Hickory Tree Rd Meter #70268631 02/14 3040 Old Hickory Tree Rd Meter #70268631 03/14 $ $ 32.65 32.65 0835 20561 Landscape Maintenance 03/14 $ 3,600.00 David Jae 0831 DJ032714 Board of Supervisors Meeting 03/27/14 David Jae 0844 DJ042414 Board of Supervisors Meeting 04/24/14 Glenn Marvin 0832 GM032714 Board of Supervisors Meeting 03/27/14 Glenn Marvin 0845 GM042414 Board of Supervisors Meeting 04/24/14 $ $ $ $ 200.00 200.00 200.00 200.00 Hopping Green & Sams 0836 75423 General Legal Services 02/14 $ 176.67 John C. Blakley 0830 JB032714 Board of Supervisors Meeting 03/27/14 John C. Blakley 0843 JB042414 Board of Supervisors Meeting 04/24/14 Orlando Sentinel Communications 0837 1273355 Acct # CU00110659 Legal Advertising 03/18/14 Orlando Utilities Commission 0838 Acct #0933934710 03/14 Orlando Utilities Commission 0838 Acct #9433056077 03/14 3000 Block Even Old Hickory Tr Rd LS83 03/14 2900 Block Even Old Hickory Tr Rd 03/14 $ $ $ $ 200.00 200.00 Rizzetta & Company, Inc. 0833 16509 District Management Fees 04/14 $ 3,149.99 $ 84.50 59.33 10.46 Robert R. Bishop 0829 BB032714 Board of Supervisors Meeting 03/27/14 Robert R. Bishop 0842 BB042414 Board of Supervisors Meeting 04/24/14 $ $ 200.00 200.00 S & S Prestige Worldwide, LLC 0834 153 Common Area Trash Removal 03/14 $ 450.00 Report Total $ 9,961.25

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RESOLUTION 2014-03 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGETS FOR FISCAL YEAR 2014/2015 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the District Manager has heretofore prepared and submitted to the Board of Supervisors of the Gramercy Farms Community Development District (the Board ) prior to June 15, 2014, a proposed operating budget, debt service budget and capital projects budget for Fiscal Year 2014/2015; and WHEREAS, the Board has considered the proposed budgets and desires to set the required public hearing thereon. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT: 1. The operating, debt service and capital projects budgets proposed by the District Manager for Fiscal Year 2014/2015 attached hereto as Exhibit A are hereby approved as the basis for conducting a public hearing to adopt said budgets. 2. A public hearing on said approved budgets is hereby declared and set for the following date, hour and location: DATE:, 2014 HOUR: LOCATION: Concorde Estates Clubhouse, 3151 Georgian Bay Lane, Kissimmee, Florida 34746 3. The District Manager is hereby directed to submit a copy of the approved budgets to Osceola County and City of St. Cloud at least 60 days prior to the hearing set above. 4. In accordance with Section 189.418, Florida Statutes, the District's Secretary is further directed to post this approved budget on the District's website at least two days before the budget hearing date as set forth in Section 2. If the District does not have its own website, the District's Secretary is directed to transmit this approved budget to Osceola County for posting on the local governing authority s website. 5. Notice of this public hearing shall be published in the manner prescribed in Florida law. 6. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS DAY OF, 2014. ATTEST: GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT Assistant Secretary By: Its:

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT Proposed Budget Packet for Fiscal Year 2014/2015 The following are enclosed in this Proposed Budget Packet: Proposed General Fund Budget, Enterprise Fund Budget & Debt Service Fund Budget worksheets for Fiscal Year 2014/2015. Assessment Charts from current Fiscal Year and Assessment Charts for Fiscal Year 2014/2015 if budgeted were to be adopted as proposed. THE BUDGET PROPOSAL PACKET FOR FISCAL YEAR 2014/2015 IS SIMPLY A PROPOSED BUDGET AND PROPOSED LEVEL OF ASSESSMENTS WHICH ARE DONE AS PART OF THE BUDGET PROCESS. THESE ARE NOT FINAL AND SHOULD NOT BE CONSTRUED AS FINAL, UNTIL AFTER THE BOARD OF SUPERVISORS HAS HELD A PUBLIC HEARING ON THE BUDGET AND ADOPTED THE FINAL BUDGET AND LEVIED ASSESSMENTS.

Proposed Budget Gramercy Farms Community Development District General Fund Fiscal Year 2014/2015 Chart of Accounts Classification Actual YTD through 03/31/14 Projected Annual Totals 2013/2014 Annual Budget for 2013/2014 Projected Budget variance for 2013/2014 Budget for 2014/2015 Budget Increase (Decrease) vs 2013/2014 Comments 1 2 REVENUES 3 4 Special Assessments 5 Tax Roll* $ - $ - $ - $ - $ - $ - 6 Off Roll* $ 17,424 $ 17,424 $ 219,825 $ (202,401) $ - $ (219,825) 7 TOTAL REVENUES $ 17,424 $ 17,520 $ 219,825 $ (202,305) $ 372,509 $ (219,825) 8 9 Balance Forward from Prior Year $ - $ - $ 52,850 $ (52,850) $ - $ (52,850) 10 11 TOTAL REVENUES AND BALANCE FORWARD $ 17,424 $ 17,520 $ 272,675 $ (255,155) $ 372,509 $ (272,675) 12 13 14 EXPENDITURES - ADMINISTRATIVE 15 16 Legislative 17 Supervisor Fees $ 4,800 $ 9,600 $ 12,000 $ (2,400) $ 12,000 $ - 18 Financial & Administrative 19 Administrative Services $ 2,100 $ 4,200 $ 4,200 $ - $ 4,326 $ 126 3% increase 20 District Management $ 10,000 $ 20,000 $ 20,000 $ - $ 20,600 $ 600 3% increase 21 District Engineer $ 1,053 $ 2,106 $ 20,000 $ (17,894) $ 20,000 $ - 22 Disclosure Report $ 5,000 $ 5,000 $ 5,000 $ - $ 5,000 $ - 23 Trustees Fees $ 10,371 $ 10,371 $ 11,500 $ (1,129) $ 11,500 $ - 24 Financial Consulting Services $ 1,800 $ 3,600 $ 3,600 $ - $ 3,708 $ 108 3% increase 25 Accounting Services $ 5,000 $ 10,000 $ 10,000 $ - $ 10,300 $ 300 3% increase 26 Auditing Services $ - $ 4,900 $ - $ 4,900 $ - $ - 27 Arbitrage Rebate Calculation $ 650 $ 1,300 $ 1,300 $ - $ 1,300 $ - 28 Public Officials Liability Insurance $ 10,130 $ 10,130 $ 11,000 $ (870) $ 11,650 $ 650 possible 15% increase 29 Legal Advertising $ 941 $ 1,882 $ 1,500 $ 382 $ 1,500 $ - 30 Bank Fees $ - $ - $ 500 $ (500) $ 500 $ - 31 Dues, Licenses & Fees $ 175 $ 175 $ 175 $ - $ 175 $ - 32 Legal Counsel 33 District Counsel $ 5,976 $ 11,952 $ 20,000 $ (8,048) $ 20,000 $ - 34 35 Administrative Subtotal $ 57,996 $ 95,216 $ 120,775 $ (25,559) $ 122,559 $ 1,784 36 37 EXPENDITURES - FIELD OPERATIONS 38 39 Electric Utility Services 40 Utility Services $ 612 $ 1,224 $ 5,000 $ (3,776) $ 5,000 $ - 41 Street Lights $ - $ - $ 44,000 $ (44,000) $ 88,000 $ 44,000 42 Garbage/Solid Waste Control Services 43 Garbage - Recreation Facility $ - $ - $ - $ 5,200 $ - $ - 44 Water-Sewer Combination Services 45 Utility Services $ 2,154 $ 4,308 $ 24,000 $ (19,692) $ 24,000 $ - 46 Stormwater Control 47 Lake/Pond Bank Maintenance $ 3,990 $ 7,980 $ 8,000 $ (20) $ 8,000 $ - 48 Wetland Monitoring & Maintenance $ - $ - $ 15,500 $ (15,500) $ 15,500 $ - 49 Freeze Protection $ - $ - $ - $ - $ - $ - 50 Other Physical Environment 51 General Liability Insurance $ 384 $ 384 $ 400 $ (16) $ 450 $ 50 possible 15% increase 52 Property Insurance $ 6,078 $ 6,078 $ - $ 6,078 $ 7,000 $ 7,000 possible 15% increase 53 Entry & Walls Maintenance $ - $ - $ - $ - $ - $ - 54 Landscape Maintenance $ 21,600 $ 43,200 $ 45,000 $ (1,800) $ 90,000 $ 45,000 55 Ornamental Lighting & Maintenance $ - $ - $ - $ - $ - $ - 56 Holiday Decorations $ - $ - $ - $ - $ - $ - 57 Irrigation Repairs $ - $ - $ - $ - $ - $ - 58 Landscape - Mulch $ - $ - $ - $ - $ - $ - 59 Landscape Miscellaneous $ - $ - $ - $ - $ - $ - 60 Landscape Replacement Plants, Shrubs, Trees $ - $ - $ - $ - $ - $ - 61 Miscellaneous Expense $ - $ - $ - $ - $ - $ - 62 Fire Ant Treatment $ - $ - $ - $ - $ - $ - 63 Road & Street Facilities 64 Sidewalk Repair & Maintenance $ - $ - $ - $ - $ - $ - 65 Parking Lot Repair & Maintenance $ - $ - $ - $ - $ - $ - 6 Roadway Repair & Maintenance $ - $ - $ - $ - $ - $ - 67 Parks & Recreation 68 Maintenance & Repair $ - $ - $ - $ - $ - $ - 69 Gate Maintenance & Repairs $ - $ - $ - $ - $ - $ - 70 Sidewalk Maintenance & Repair $ - $ - $ - $ - $ - $ - 71 Pest Control & Termite Bond $ - $ - $ - $ - $ - $ - 72 Lighting Replacement $ - $ - $ - $ - $ - $ - 73 Basketball Court Maintenance & Supplies $ - $ - $ - $ - $ - $ - 74 Dog Waste Station Supplies $ - $ - $ - $ - $ - $ - 75 Contingency 76 Miscellaneous Fees $ - $ - $ - $ - $ - $ - 77 Miscellaneous Contingency $ 1,000 $ 2,000 $ 10,000 $ (8,000) $ 12,000 $ 2,000 78 79 Field Operations Subtotal $ 35,818 $ 65,174 $ 151,900 $ (81,526) $ 249,950 $ 98,050 80 81 82 TOTAL EXPENDITURES $ 93,814 $ 160,390 $ 272,675 $ (107,085) $ 372,509 $ 99,834 83 84 EXCESS OF REVENUES OVER EXPENDITURES $ (76,390) $ (142,870) $ - $ (148,070) $ - $ (372,509) 85 2 of 13

Gramercy Farms Community Development District Debt Service Fiscal Year 2014/2015 Chart of Accounts Classification Series 2011 Budget for 2014/2015 REVENUES Special Assessments Net Special Assessments $ - $ - TOTAL REVENUES $ - $ - EXPENDITURES Administrative Financial & Administrative Bank Fees 0.00 Debt Service Obligation $ - $ - Administrative Subtotal $ - $ - TOTAL EXPENDITURES $ - $ - EXCESS OF REVENUES OVER EXPENDITURES 0 0 Collection and Discount % applicable to the county: 6.0% Gross assessments $ - Notes: Pursuant to the Series 2011 assessment methodology, debt assessments are not payable until lots are sold to end users. 3 of 13

Gramercy Farms Community Development District FISCAL YEAR 2014/2015 O&M & DEBT SERVICE ASSESSMENT SCHEDULE 2014/2015 O&M Budget $372,509.00 Osceola County 6% Collection Cost: 6% $23,777.17 2014/2015 Total: $396,286.17 $404,901.09 2013/2014 O&M Budget $219,825.00 2014/2015 O&M Budget $372,509.00 Total Difference: $152,684.00 PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease 2013/2014 (1) 2014/2015 (2) $ % Debt Service - Single Family 40' $0.00 $602.06 $602.06 0.00% Operations/Maintenance - Single Family 40' $240.00 $432.63 $192.63 80.26% Total $240.00 $1,034.69 $794.69 331.12% Debt Service - Single Family 50' $0.00 $662.27 $662.27 0.00% Operations/Maintenance - Single Family 50' $264.00 $475.89 $211.89 80.26% Total $264.00 $1,138.16 $874.16 331.12% (1) Exclusive of collection costs. (1) Inclusive of collection costs. Debt assessments are not payable until lots are sold to end users. 4 of 13

GRAMERCY FARMS FISCAL YEAR 2014/2015 O&M & DEBT SERVICE ASSESSMENT SCHEDULE TOTAL O&M BUDGET $372,509.00 COLLECTION COSTS @ 6.0% $23,777.17 TOTAL O&M ASSESSMENT $396,286.17 UNITS ASSESSED ALLOCATION OF O&M ASSESSMENT SERIES 2011 SERIES 2011 PER LOT ANNUAL ASSESSMENT DEBT TOTAL % TOTAL TOTAL DEBT SERVICE SERIES 2011 LU LOT SIZE O&M SERVICE EAU FACTOR EAU's EAU's O&M BUDGET ASSESSMENT (1) O&M DEBT SERVICE (1) TOTAL (2) 0 Platted Parcels 50 Single Family 50' 64 64 1.10 70.40 7.69% $30,456.93 $42,385.28 $475.89 $662.27 $1,138.16 Total Platted 64 64 70.40 7.69% $30,456.93 $42,385.28 TOTAL Unplatted Parcels 40 Single Family 40' 344 344 1.00 344.00 37.55% $148,823.63 $207,108.64 $432.63 $602.06 $1,034.69 50 Single Family 50' 456 456 1.10 501.60 54.76% $217,005.61 $301,995.12 $475.89 $662.27 $1,138.16 Total Unplatted 800 800 845.60 92.31% $365,829.24 $509,103.76 Total Community 864 864 916.00 100.00% $396,286.17 $593,874.32 LESS: Osceola County Collection Costs and Early Payment Discount Costs ($23,777.17) ($35,632.46) Net Revenue to be Collected $372,509.00 $558,241.86 (1) Pursuant to the Series 2011 assessment methodology, debt assessments are not payable until lots are sold to end users. (2) Annual assessment that will appear on November 2014 Osceola County property tax bill for all lots owned by end users. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early. 5 of 13

GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT General Fund Budget Account Category Description Fiscal Year 2014-2015 REVENUES: Operations & Maintenance Assessments The District levies Non-Ad Valorem Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County s Tax Roll, to be collected with the County s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County. The second is for lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner. Funding Agreement The District may enter into funding agreements to provide for a source of revenue for certain expenditures. Developer Contribution The District may, similar to a funding agreement, receive certain prescribed dollars from the Developer to off-set expenditures of the District. Facility Rental The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc. Event Rental The District may receive monies for event rentals for such things as weddings, birthday parties, etc. Interlocal Agreement The District may enter into interlocal agreements with other governmental entities to provide for revenue for certain expenditures. Miscellaneous The District may receive monies for the sale or provision of electronic access cards, entry decals etc. EXPENDITURES: ADMINISTRATIVE Legislative Supervisor Fees The District may compensate its supervisors within the appropriate statutory limits of $200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor. Financial and Administrative Administrative Services The District will incur expenditures for the day to today operation of District matters. These items include but are not limited to mailing and preparation of agenda packages, overnight deliveries, facsimiles and long distance phone calls. Also, District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8). Finally, this line item also includes a cost for the storage of all the District s official records, supplies and files. District Manager The District as required by statute, will contract with a firm to provide for management and administration of the District s day to day administrative needs. The cost to maintain the minutes of all Board meetings, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount. 6 of 13

Disclosure Report The District is required to file quarterly and annual disclosure reports, as required in the District s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture. Trustee s Fees The District will incur annual trustee s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues. Financial Consulting Services The District will contract with a firm to maintain the assessment roll and annually levy a Non-Ad Valorem assessment for operating and debt service expenses. Also, additional financial consulting services include, but are not limited to responding to bondholder questions, prepayment analysis, long term pay-offs and true-up analysis. This line item also includes the fees incurred for a Collection Agent to collect the funds for the principal and interest payment for its short-term bond issues and any other bond related collection needs. These funds are collected as prescribed in the Trust Indenture. The Collection Agent also provides for the release of liens on property after the full collection of bond debt levied on particular properties. Finally, the District may contract for the investment of various funds prior to the need to expend, to maximize the potential earnings on those funds. Accounting Services The District has contracted for maintenance of accounting records. These services include, but are not limited to accounts payable, accounts receivable and preparation of financial reports for the district. Auditing Services The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt. Arbitrage Rebate Calculation The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds. District Engineer The District s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year. Public Officials Liability Insurance The District will incur expenditures for public officials liability insurance for the Board and Staff. Legal Advertising The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines Bank Fees The District will incur bank service charges during the year. Dues, Licenses & Subscriptions The District is required to pay an annual fee to the Department of Community Affairs, along with other items which may require licenses or permits, etc. Miscellaneous The District could incur miscellaneous throughout the year, which may not fit into any standard categories. Website Development and Maintenance The District may incur fees as they relate to the development and ongoing maintenance of its own website. 7 of 13

Legal Counsel District Counsel The District s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year. FIELD OPERATIONS Electric Utilities Electric Utility Services The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc. Electric Service-Recreation Facility The District may budget separately for its recreation and or amenity electric separately. Street Lights The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District s boundaries. Gas Utility Service Gas-Recreation Facility The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc. Garbage/Solid Waste Control Garbage Collection-Recreation Facility The District will incur expenditures related to the removal of garbage and solid waste. Solid Waste Assessment Fee The District may have an assessment levied by another local government for solid waste, etc. Water-Sewer Combination Services Water Utility Services The District will incur water/sewer utility expenditures related to district operations. Water-Reclaimed The District may incur expenses related to the use of reclaimed water for irrigation. Water-Recreation Facility The District may incur water and sewer charges for its recreation facilities Water-Pool The District may incur charges for water for its pool if metered separately. Stormwater Control Fountain Service Repairs & Maintenance The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas Lake/Pond Bank Maintenance 8 of 13

The District may incur expenditures to maintain lake banks, etc for the ponds and lakes within the Districts boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary. Aquatic Contract Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species. Mitigation Monitoring & Maintenance The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities. Lake/Pond Repair Expense related to repair and maintenance for inlet pipes, outfalls and weir structures for the storm water drainage system. Aquatic Plant Replacement The expenses related to replacing beneficial aquatic plants, that may or may not have been required by other governmental entities. Other Physical Environment Employee-Salaries The District may incur salary expenses for a field manager of site superintendent who oversees daily activity within the field operations of the District s facilities. Employee-P/R Taxes This is the employer s portion of employment taxes such as FICA etc. Employee-Workers Comp Fees related to obtaining workers compensation insurance. Employee-Health Insurance Expenses related to providing health insurance coverage if the District elects to offer same. General Liability Insurance The District will incur fees to insure items owned by the District for its general liability needs Property Casualty Insurance The District will incur fees to insure items owned by the District for its property needs Entry and Walls Maintenance The District will incur expenditures to maintain the entry monuments and the fencing. Landscape Maintenance The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch and irrigation repairs. Irrigation Repairs & Maintenance The District will incur expenditures related to the maintenance of the irrigation systems. Clock Maintenance Contract Expenses incurred for such things as entry clocks if they exist. Landscape Replacement Expenditures related to replacement of turf, trees, shrubs etc. 9 of 13

Miscellaneous Fees The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations. Road & Street Facilities Gate Phone The District will incur telephone expenses if the District has gates that are to be opened and closed. Street Sweeping The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain. Gate Maintenance Expenses related to the ongoing repairs and maintenance of gates owned by the District if any. Roadway Repair & Maintenance Expenses related to the repair and maintenance of roadways owned by the District if any. Sidewalk Repair & Maintenance Expenses related to sidewalks located in the right of way of streets the District may own if any. Miscellaneous Maintenance Expenses which may not fit into any defined category in this section of the budget. Parks & Recreation Employees-Salaries The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff. Employees P/R Taxes Expenses related to an employers portion of payroll taxes such as FICA, etc. Employee-Workers Comp Expenses related to Workers Comp Insurance Employees-Health Insurance Expenses related to health insurance coverage for employees if the District elects to over same. Management Contract The District may contract with a firm to provide for the oversight of its recreation facilities. Clubhouse Facility Maintenance The District may incur expenses to maintain its recreation facilities Clubhouse Telephone, Fax, Internet The District may incur telephone, fax and internet expenses related to the recreational facilities. Clubhouse Facility Landscaping The District may wish to budget separately for this item from its other landscaping needs. 10 of 13

Clubhouse Office Supplies The District may have an office in its facilities which require various office related supplies. Clubhouse Facility Janitorial Service Expenses related to the cleaning of the facility and related supplies. Clubhouse Facility Irrigation The District may wish to budget separately for this item from its other irrigation needs. Pool/Water Park/Fountain Repairs and Maintenance Expenses related to the repair and maintenance of swimming pools and other water features to include service contracts, repair and replacement Security System The District may wish to install a security system for the clubhouse Clubhouse Miscellaneous Expenses which may not fit into a defined category in this section of the budget Athletic/Park Court/Field Repairs Expense related to any facilities such as tennis, basketball etc. Trail/Bike Path Maintenance Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces. Law Enforcement Off Duty Deputy Services The District may wish to contract with the local police agency to provide security for the District. Security Operations Security Contract The District may incur expenses for providing security at entries, neighborhood patrols etc. Guard & Gate Facility Maintenance The District may choose to have its entry gates manned with personnel. Also, any ongoing gate repairs and maintenance would be included in this line item. Special Events Special Events Expenses related to functions such as holiday events for the public enjoyment Miscellaneous Contingency Contingency 11 of 13

Monies collected and allocated for expenses that the District could incur miscellaneous throughout the year, which may not fit into any standard categories. Capital Improvements Capital Improvements Monies collected and allocated for various projects as they relate to public improvements. Capital Reserves Capital Reserve Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc. GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT Debt Service Fund Budget Account Category Description Fiscal Year 2014-2015 REVENUES: Debt Service Assessments The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments. EXPENDITURES: ADMINISTRATIVE Financial and Administrative 12 of 13

Bank Fees The District may incur bank service charges during the year. Interest Payment The District may incur interest payments on the debt related to its various bond issues. Principal Payment This would be the portion of the payment to satisfy the repayment of the bond issue debt. 13 of 13

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RESOLUTION 2014-04 A RESOLUTION OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT ADOPTING THE ANNUAL MEETING SCHEDULE FOR FISCAL YEAR 2014-2015 WHEREAS, the Gramercy Farms Community Development District (the "District") is a local unit of special-purpose government organized and existing in accordance with Chapter 190, Florida Statutes, and situated entirely within the City of St. Cloud, Osceola County, Florida; and WHEREAS, the District is required by Florida law to prepare an annual schedule of its regular public meetings which designates the date, time and location of the District s meetings; and WHEREAS, the Board has proposed the Fiscal Year 2014-2015 annual meeting schedule as attached in Exhibit A; NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT 1. The Fiscal Year 2014-2015 annual public meeting schedule attached hereto and incorporated by reference herein as Exhibit A is hereby approved and will be published and filed in accordance with the requirements of Florida law. 2. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this day of, 2014. ATTEST: GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT Assistant Secretary Chairman, Board of Supervisors

EXHIBIT A BOARD OF SUPERVISORS MEETING DATES GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2014/2015 October 23, 2014 November, 2014 December, 2014 January 22, 2015 February 26, 2015 March 26, 2015 April 23, 2015 May 28, 2015 June 25, 2015 July 23, 2015 August 27, 2015 September 24, 2015 All meetings will convene at on the 4 th Thursday of the month (except for November and December) at 11:30 a.m. at the Concorde Estates Clubhouse, located at 3151 Georgian Bay Lane, Kissimmee, Florida 34746.

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RESOLUTION 2014-05 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT DESIGNATING A DATE, TIME AND LOCATION FOR A LANDOWNERS MEETING; PROVIDING FOR PUBLICATION; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Gramercy Farms Community Development District ( District ) is a local unit of specialpurpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within the City of St. Cloud, Florida; and WHEREAS, the District s Board of Supervisors ( 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 provisions of Chapter 286, Florida Statutes; and WHEREAS, the effective date of Ordinance No. 2005-96 creating the District was July 21, 2005; and WHEREAS, the District is statutorily required to hold a meeting of the landowners of the District for the purpose of electing supervisors for the District on a date in November established by the Board, which shall be noticed pursuant to Section 190.006(2)(a), Florida Statutes. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT: Section 1. In accordance with Section 190.006(2), Florida Statutes, the meeting of the landowners to elect three (3) supervisors of the District, shall be held on the day of November, 2014, at a/p.m. at Concorde Estates Clubhouse, 3151 Georgian Bay Lane, Kissimmee, Florida 34746. Section 2. The District s Secretary is hereby directed to publish notice of this landowners meeting in accordance with the requirements of Section 190.006(2)(a), Florida Statutes. Section 3. Pursuant to Section 190.006(2)(b), Florida Statutes, the landowners meeting and election has been announced by the Board at its, 2014 meeting. A sample notice of landowners meeting and election, proxy, ballot form and instructions were presented at such meeting and are attached hereto as Exhibit A. Such documents are available for review and copying during normal business hours at the District s Local Records Office, located at, or at the office of the District Manager, Rizzetta & Company, Inc., located at 8529 South Park Circle, Suite 330, Orlando, Florida 32819. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED THIS DAY OF, 2014. GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT ATTEST: CHAIRMAN / VICE CHAIRMAN SECRETARY / ASST. SECRETARY

NOTICE OF LANDOWNERS MEETING AND ELECTION AND MEETING OF THE BOARD OF SUPERVISORS OF THE GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT Notice is hereby given to the public and all landowners within Gramercy Farms Community Development District (the District ) the location of which is generally described as comprising a parcel or parcels of land containing approximately 299 acres, located west of Old Hickory Tree Road, south of Nolte Road, east of La Salle Avenue and north of Cypress Drive in the City of St. Cloud, Osceola County, Florida, advising that a meeting of landowners will be held for the purpose of electing three (3) persons to the District Board of Supervisors. Immediately following the landowners meeting there will be convened a meeting of the Board of Supervisors for the purpose of considering certain matters of the Board to include election of certain District officers, and other such business which may properly come before the Board. DATE: TIME: PLACE: Concorde Estates Clubhouse 3151 Georgian Bay Lane Kissimmee, Florida 34746 Each landowner may vote in person or by written proxy. Proxy forms may be obtained upon request at the office of the District Manager, 8529 South Park Circle, Suite 330, Orlando, Florida 32819. At said meeting each landowner or his or her proxy shall be entitled to nominate persons for the position of Supervisor and cast one vote per acre of land, or fractional portion thereof, owned by him or her and located within the District for each person nominated for the position of Supervisor. A fraction of an acre shall be treated as one acre, entitling the landowner to one vote with respect thereto. Platted lots shall be counted individually and rounded up to the nearest whole acre. The acreage of platted lots shall not be aggregated for determining the number of voting units held by a landowner or a landowner s proxy. At the landowners meeting the landowners shall select a person to serve as the meeting chair and who shall conduct the meeting. The landowners meeting and the Board of Supervisors meeting are open to the public and will be conducted in accordance with the provisions of Florida law. One or both of the meetings may be continued to a date, time, and place to be specified on the record at such meeting. A copy of the agenda for these meetings may be obtained from 8529 South Park Circle, Suite 330, Orlando, Florida 32819. There may be an occasion where one or more supervisors will participate by telephone. Any person requiring special accommodations to participate in these meetings is asked to contact the District Office at (407) 472-2471, at least 48 hours before the hearing. If you are hearing or speech impaired, please contact the Florida Relay Service at (800) 955-8770 for aid in contacting the District Office. A person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that such person will need a record of the 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 the appeal is to be based. Jeremy Needham District Manager Run Date(s): & PUBLISH: ONCE A WEEK FOR 2 CONSECUTIVE WEEKS, THE LAST DAY OF PUBLICATION TO BE NOT FEWER THAN 14 DAYS OR MORE THAN 28 DAYS BEFORE THE DATE OF ELECTION, IN A NEWSPAPER WHICH IS IN GENERAL CIRCULATION IN THE AREA OF THE DISTRICT

INSTRUCTIONS RELATING TO LANDOWNERS MEETING OF GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT FOR THE ELECTION OF SUPERVISORS DATE OF LANDOWNERS MEETING:, November, 2014 TIME:.M. LOCATION: Pursuant to Chapter 190, Florida Statutes, and after a Community Development District ( District ) has been established and the landowners have held their initial election, there shall be a subsequent landowners meeting for the purpose of electing members of the Board of Supervisors ( Board ) every two years until the District qualifies to have its board members elected by the qualified electors of the District. The following instructions on how all landowners may participate in the election are intended to comply with Section 190.006(2)(b), Florida Statutes. A landowner may vote in person at the landowners meeting, or the landowner may nominate a proxy holder to vote at the meeting in place of the landowner. Whether in person or by proxy, each landowner shall be entitled to cast one vote per acre of land owned by him or her and located within the District, for each position on the Board that is open for election for the upcoming term. A fraction of an acre shall be treated as one (1) acre, entitling the landowner to one vote with respect thereto. Please note that a particular parcel of real property is entitled to only one vote for each eligible acre of land or fraction thereof; therefore, two or more people who own real property in common, that is one acre or less, are together entitled to only one vote for that real property. At the landowners meeting, the first step is to elect a chair for the meeting, who may be any person present at the meeting. The landowners shall also elect a secretary for the meeting who may be any person present at the meeting. The secretary shall be responsible for the minutes of the meeting. The chair shall conduct the nominations and the voting. If the chair is a landowner or proxy holder of a landowner, he or she may nominate candidates and make and second motions. Candidates must be nominated and then shall be elected by a vote of the landowners. Nominees may be elected only to a position on the Board that is open for election for the upcoming term. This year, three (3) seats on the Board will be up for election by landowners. The two candidates receiving the highest number of votes shall be elected for a term of four (4) years. The candidate receiving the next highest number of votes shall be elected for a term of two (2) years. The term of office for each successful candidate shall commence upon election. A proxy is available upon request. To be valid, each proxy must be signed by one of the legal owners of the property for which the vote is cast and must contain the typed or printed name of the individual who signed the proxy; the street address, legal description of the property or tax parcel identification number; and the number of authorized votes. If the proxy authorizes more than one vote, each property must be listed and the number of acres of each property must be included. The signature on a proxy does not need to be notarized.

LANDOWNER PROXY GRAMMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA LANDOWNERS MEETING NOVEMBER, 2014 KNOW ALL MEN BY THESE PRESENTS, that the undersigned, the fee simple owner of the lands described herein, hereby constitutes and appoints ( Proxy Holder ) for and on behalf of the undersigned, to vote as proxy at the meeting of the landowners of the Gramercy Farms Community Development District to be held at Concorde Estates Clubhouse, 3151 Georgian Bay Lane, Kissimmee, Florida 34746, on November, at a/p.m., and at any adjournments thereof, according to the number of acres of unplatted land and/or platted lots owned by the undersigned landowner that the undersigned would be entitled to vote if then personally present, upon any question, proposition, or resolution or any other matter or thing that may be considered at said meeting including, but not limited to, the election of members of the Board of Supervisors. Said Proxy Holder may vote in accordance with his or her discretion on all matters not known or determined at the time of solicitation of this proxy, which may legally be considered at said meeting. Any proxy heretofore given by the undersigned for said meeting is hereby revoked. This proxy is to continue in full force and effect from the date hereof until the conclusion of the landowners meeting and any adjournment or adjournments thereof, but may be revoked at any time by written notice of such revocation presented at the landowners meeting prior to the Proxy Holder s exercising the voting rights conferred herein. Printed Name of Legal Owner Signature of Legal Owner Date Parcel Description Acreage Authorized Votes [Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel. If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.] Total Number of Authorized Votes: NOTES: Pursuant to Section 190.006(2)(b), Florida Statutes (2013), a fraction of an acre is treated as one (1) acre entitling the landowner to one vote with respect thereto. Moreover, two (2) or more persons who own real property in common that is one acre or less are together entitled to only one vote for that real property. If the fee simple landowner is not an individual, and is instead a corporation, limited liability company, limited partnership or other entity, evidence that the individual signing on behalf of the entity has the authority to do so should be attached hereto (e.g., bylaws, corporate resolution, etc.).

OFFICIAL BALLOT GRAMERCY FARMS COMMUNITY DEVELOPMENT DISTRICT OSCEOLA COUNTY, FLORIDA LANDOWNERS MEETING - NOVEMBER, 2014 For Election (3 Supervisors): The two (2) candidates receiving the highest number of votes will each receive a four (4) year term, and the one (1) candidate receiving the next highest number of votes will receive a two (2) year term, with the term of office for the successful candidates commencing upon election. The undersigned certifies that he/she/it is the fee simple owner of land, or the proxy holder for the fee simple owner of land, located within the Gramercy Farms Community Development District and described as follows: Description Acreage [Insert above the street address of each parcel, the legal description of each parcel, or the tax identification number of each parcel.] [If more space is needed, identification of parcels owned may be incorporated by reference to an attachment hereto.] or Attach Proxy. I,, as Landowner, or as the proxy holder of (Landowner) pursuant to the Landowner s Proxy attached hereto, do cast my votes as follows: NAME OF CANDIDATE NUMBER OF VOTES 1. 2. 3. Date: Signed: Printed Name:

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Special Assessment Refunding Bonds, Series 2011