Feed Mill
Community Development District

Board of Supervisors’ Meeting
May 27, 2026
District Office: 2806 N. Fifth Street Unit 403
St. Augustine, FL 32084

www.feedmillcdd.org

FEED MILL
COMMUNITY DEVELOPMENT DISTRICT

1845 Town Center Blvd, Suite 105, Fleming Island, FL 32003

Board of Supervisors

Daniel McCormick Daniel Arnette Gerald Agresti Clay Crevasse Liam O’Reilly

Chairman Vice Chairman
Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Manager

Lesley Gallagher Melissa Dobbins

Rizzetta & Company, Inc. Rizzetta & Company, Inc.

District Counsel

Katie Buchanan

Kutak Rock, LLP

District Engineer

Daniel Welch

England-Thims & Miller

All cellular phones must be placed on mute while in the meeting room.

The Audience Comments portion will be held at the beginning of the meeting. During this portion of the agenda, audience members may make comments on matters that concern the District (CDD) and will be limited to a total of three (3) minutes to make their comments.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting/hearing/workshop is asked to advise the District Office at least forty-eight (48) hours before the meeting/hearing/workshop by contacting the District Manager at (239) 936-0913. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY)
1-800-955-8770 (Voice), who can aid you in contacting the District Office.

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

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

District Office · St. Augustine, Florida · (904) 436-6270
Mailing Address – 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614 www.feedmillcdd.org

Board of Supervisors Feed Mill Community Development District

May 20, 2026 Rev. 05/22/2026

REVISED FINAL AGENDA

Dear Board Members:

The regular meeting

of the Board of Supervisors of the Feed Mill Community Development

District will be held on May 27, 2026 at 9:00 a.m. at 1845 Town Center Blvd., Suite 105 Fleming Island, Florida 32003.

1.
2.
3.

CALL TO ORDER/ROLL CALL AUDIENCE COMMENTS BUSINESS ADMINISTRATION
Consideration of the Minutes of the Board of Supervisors’
Regular Meeting Held April 22, 2026	Tab 1
Ratification of the Operation and Maintenance Expenditures
for April 2026	Tab 2
Staff Reports
District Counsel
District Engineer
District Manager
Presentation of Registered Voter Count	Tab 3
Business Items

4.

5.

A.

Presentation of Final Second Supplemental Special Assessment
Allocation Report Dated May 14, 2026	Tab 4
Consideration of Resolution 2026-02; Special Assessments	Tab 5
Consideration of Notice of Special Assessment	Tab 6
Consideration of Requisition 1, Series 2026 – Phase 4A	Tab 7
Consideration of Resolution 2026-05, Setting Public Hearing
on Revised Rules of Procedure	Tab 8
Consideration of Resolution 2026-06; Setting Landowner Election	Tab 9
Consideration of Interlocal Agreement – Landscape and Irrigation
Clay County	Tab 10
Ratification of Change Order #5, Vallencourt Phase 1A (Under Separate Cover) Ratification of Change Order #5, Vallencourt Phase 4A (Under Separate Cover) Consideration of Award of Phase 1 Amenities (Under Separate Cover) Presentation of the 2026-2027 Proposed Budget (Under Separate Cover)
1.  Consideration of Resolution 2026-07; Approving Proposed
Budget for Fiscal Year 2026-2027 and Setting Public Hearing	Tab 11
Acceptance of Declaration of Unified Control for Master Signage Plan	Tab 12

B.
C.
D.
E.

F.
G.

H.
I.
J.
K.

L.

7.

Adjournment

We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at 904-436-6270.
Very truly yours,
Lesley Gallagher
District Manager

4927-6268-9551.1

Tab 1

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
April 22, 2026 Minutes of Meeting
Page 1

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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.

FEED MILL
COMMUNITY DEVELOPMENT DISTRICT

The meeting of the Board of Supervisors of Feed Mill Community Development District was held on April 22, 2026 at 9:00 a.m. at 1845 Town Center Blvd, Suite 105, Fleming Island, FL 32003.

Present and constituting a quorum:

Daniel McCormick Daniel Arnette Clay Crevasse Gerald Agresti Liam O’Reilly

Board Member, Chairman Board Member, Vice Chairman
Board Member, Assistant Secretary Board Member, Assistant Secretary Board Member, Assistant Secretary

Also present were:

Lesley Gallagher Katie Buchanan Hunter Hurley Daniel Welch

District Manager, Rizzetta & Company, Inc.
District Counsel, Kutak Rock LLP (via speakerphone) District Counsel, Kutak Rock LLP (via speakerphone)
District Engineer, England-Thims & Miller (via speakerphone)

FIRST ORDER OF BUSINESS

CALL TO ORDER

Ms. Gallagher called the meeting to order at 9:01 a.m.

SECOND ORDER OF BUSINESS

AUDIENCE COMMENTS

There were no audience members present.

THIRD ORDER OF BUSINESS

CONSIDERATION OF THE MINUTES OF THE BOARD OF SUPERVISORS’ REGUALR MEETING HELD MARCH 25, 2026

46
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On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board approved the minutes of the Board of Supervisors’ regular meeting held March 25, 2026, for the Feed Mill Community Development District.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
April 22, 2026 Minutes of Meeting
Page 2

FOURTH ORDER OF BUSINESS

RATIFICATION OF THE OPERATION AND MAINTENANCE EXPENDITURES FOR MARCH 2026

48
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FIFTH ORDER OF BUSINESS

ACCEPTANCE OF JEREMY HAMPSON’S RESIGNATION

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SIXTH ORDER OF BUSINESS

CONSIDERATION OF APPOINTMENT TO OPEN SEAT

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Daniel Arnette took his oath of office.

SEVENTH ORDER OF BUSINESS

STAFF REPORTS

A.

District Counsel

Ms. Buchanan did not have a report but was available for any questions.

B.

District Engineer

Mr. Welch did not have a report but was available for any questions.

C.

District Manager

Ms. Gallagher updated the board that the special meeting for May 6, 2026 had been canceled. She also noted that the next regular meeting will be held on May 27, 2026, at which time the proposed fiscal year 2026–2027 budget will be presented.

EIGHTH ORDER OF BUSINESS

CONSIDERATION OF RESOLUTION

On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board appointed Daniel Arnette to the open seat previously held by Jeremy Hampson for the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board accepted Jeremy Hampson’s resignation from the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Crevasse, with all in favor, the Board ratified operation and maintenance expenditures for March 2026 in the amount of
$5,940.26 for the Feed Mill Community Development District.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
April 22, 2026 Minutes of Meeting
Page 3

2026-03; REDESIGNATING VICE CHAIRMAN

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NINTH ORDER OF BUSINESS

CONSIDERATION OF RESOLUTION 2026-04; REDESIGNATING ASSISTANT TREASURER

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TENTH ORDER OF BUSINESS

CONSIDERATION OF FOR PHASE 1A LANDSCAPING MAINTENACE AGREEMENT (UNDER SEPARATE COVER)

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ELEVENTH ORDER OF BUSINESS

CONSIDERATION OF AMENITY MANAGEMENT AGREEMENT (UNDER SEPARATE COVER)

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TWELVTH ORDER OF BUSINESS

SUPERVISOR REQUESTS

No Supervisor requests

THIRTEENTH ORDER OF BUSINESS

ADJOURNMENT

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On a motion by Mr. Agresti, seconded by Mr. McCormick, with all in favor, the Board adjourned meeting at 9:07 a.m., for the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Arnette, with all in favor, the Board approved the Amenity Management Agreement in substantial form, contingent upon vendor’s acceptance, for the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board approved Phase 1A Landscape Maintenance Agreement in substantial form, contingent upon vendor’s acceptance, for the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board adopted Resolution 2026-04; Redesignating Susan Garcia as Assistant Treasurer for the Feed Mill Community Development District.

On a motion by Mr. McCormick, seconded by Mr. Agresti, with all in favor, the Board adopted Resolution 2026-03; Redesignating Daniel Arnelle as Vice Chairman for the Feed Mill Community Development District.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
April 22, 2026 Minutes of Meeting
Page 4

Secretary/Assistant Secretary

Chairman/Vice Chairman

Tab 2

Feed Mill Community Development District
District Office	St. Augustine, Florida	(904) 436-6270
Mailing Address	3434 Colwell Avenue, Suite 200	Tampa, Florida 33614

Operations and Maintenance Expenditures
April 2026
For Board Approval

Attached please find the check register listing the Operation and Maintenance expenditures paid from April 1, 2026 through April 30, 2026. This does not include expenditures previously approved by the Board.

The total items being presented:

$17,029.94

Approval of Expenditures:

	Chairperson

	Vice Chairperson

	Assistant Secretary

Feed Mill Community Development District
Paid Operation & Maintenance Expenditures

April 1, 2026 Through April 30, 2026

Vendor Name

Check Number

Invoice Number

Invoice Description	

Clay Today

300073

2025-306716

Account #69376 - Legal Advertising 12/10/25
Account #69376 - Legal Advertising 04/02/26

Clay Today

300071

2026-314238

Daniel Edwin McCormick

300069

DM032526 - 653

Board of Supervisors Meeting 03/2'

Kutak Rock, LLP

300074

3728691

Legal Services 02/26

Kutak Rock, LLP

300074

3728696

Legal Services 01/26

Rizzetta & Company, Inc.

300070

INV0000109194

Accounting Services 04/26

Rizzetta & Company, Inc.

300070

INV0000108102

Accounting Services 04/26

VGlobal Tech

300072

8439

ADA Website Maintenance 04/26

Total

Tab 3

Chris H. Chambless
Supervisor of Elections Clay County, Florida

April 15, 2026

Feed Mill Community Development District Attn.: William Rizzetta
3434 Colwell Avenue, Suite 200
Tampa, Florida 33614

Dear Mr. Rizzetta:

I have queried the number of eligible voters residing within the Feed Mill Community Development District as of April 15, 2026. At this time, there are no registered voters residing within the district.

Please provide the contact information and term expiration dates for the current CDD Board Members. I can be reached via the contact information at the bottom of this page or via email at Kayla.ONeal@ClayElections.gov.

In an effort to keep our records updated please notify us of any changes to the Board due to resignations or appointments.

Thank you,

Kayla O’Neal
Clay County Supervisor of Elections Office
P.O. Box 337 | 500 North Orange Ave.
Green Cove Springs, FL 32043 (904) 269-6350 Fax (904) 284-0935

P.O. Box 337

500 N. Orange Ave. (904) 269-6350

Green Cove Springs, FL 32043 Fax (904) 284-0935

Tab 4

Feed Mill
Community Development District

Final Second Supplemental Special Assessment Allocation Report

Capital Improvement Revenue Bonds, Series 2026 (Parcel 4 – Assessment Area One)

3434 Colwell Ave
Suite 200
Tampa, FL 33614

rizzetta.com

May 14, 2026

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

Table Of Contents

Page
1

I.

INTRODUCTION ……………………………………….......………..…….................…

II.

DEFINED TERMS……..…………………..................................................................

1

III.

DISTRICT INFORMATION……………….………………..............................................

2

IV.

SERIES 2026 PARCEL 4 PROJECT............………………...………….………..……...

2

V.

SERIES 2026 BONDS AND ASSESSMENTS………………………..………………….…

3

VI.

SERIES 2026 ASSESSMENT ALLOCATION……..………………………………..……....

3

VII.

OF SERIES 2026 ASSESSMENTS..….……………………………………………..……

5

VIII.

ADDITIONAL STIPULATIONS..……………………………………………….……………...…

6

EXB “A”

ALLOCATION METHODOLOGY……………………….…………………………………….….

7

Index Of Tables

Table

Description

Page

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PRELIMINARY DEVELOPMENT PLAN...................................................................................
CIP COST DETAIL…………………………………..……...………..……..……...…….…..… FINANCING INFORMATION – SERIES 2026 BONDS….....………………….…..…………....… FINANCING INFORMATION – SERIES 2026 ASSESSMENTS………….…….……………..…… ASSESSMENT ALLOCATION – SERIES 2026 ASSESSMENTS……………………………….…. CONTRIBUTION CALCULATION – SERIES 2026 PARCEL 4 PROJECT……….………………… SERIES 2026 ASSESSMENT ROLL…..................................................................................
*Legal Descriptions Attached

A-1
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A-6

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

I.  Introduction

This Final Second Supplemental Special Assessment Allocation Report (herein the “Report”) is being presented in anticipation of financing a capital infrastructure project by the Feed Mill Community Development District (“District”), a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes. The District plans to issue Capital Improvement Revenue Bonds, Series 2026 (Parcel 4 – Assessment Area One) and has retained Rizzetta & Company, Inc. to prepare a methodology for allocating the special assessments to be levied by the District in connection with the transaction.

II. Defined Terms

“Capital Improvement Program” or “CIP” – Construction and/or acquisition of public infrastructure planned for the District. The total cost for the Capital Improvement Plan is estimated to be $187,810,032 as specified in the Engineer’s Report.

“District Engineer” – England-Thims & Miller, Inc.

“End User” – The ultimate purchaser of a fully developed residential unit; typically, a resident homeowner.

“Engineer’s Report” - That certain Feed Mill Community Development District Capital Improvement Plan dated February 12, 2025, as supplemented by that certain Feed Mill Community Development District Second Supplemental Engineer’s Report to the Capital Improvement Plan dated February 11, 2026.

“Equivalent Assessment Unit” or “EAU” – Allocation factor which reflects a quantitative measure of the amount of special benefit conferred by the District’s CIP on a particular land use, relative to other land uses.

“Indentures” – The Master Trust Indenture dated as of September 1, 2025 and Second Supplemental Trust Indenture dated as of May 1, 2026.

“Landowner” – Saratoga Sagebrook, LLC.

“Master Report” – The Master Special Assessment Allocation Report dated February 26, 2025.

“Parcel 4 – Assessment Area One” – An assessment area within the District, consisting of approximately 56.65 acres planned for 201 residential units within Phase 4A of Parcel 4.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

“Platted Units” – Lands configured into their intended end-use and subject to a recorded plat.

“Series 2026 Assessments” – The Series 2026 Assessments, as contemplated by Chapters 190, 170, and 197, Florida Statutes, levied to secure repayment of the District’s Series 2026 Bonds.

“Series 2026 Bonds” – $5,165,000 Feed Mill Community Development District Capital Improvement Revenue Bonds, Series 2026 (Parcel 4 – Assessment Area One).

“Series 2026 Parcel 4 Project” – A portion of the District’s CIP in the estimated amount of $23,592,178, expected to be partially funded by the Series 2026 Bonds, benefitting Parcel 4 – Assessment Area One.

“True-Up Agreement” – The Agreement(s) to be executed between the District and applicable Landowner, regarding the True-Up and Payment of Series 2026 Assessments.

“Unplatted Parcels” – Undeveloped lands or parcels not yet subject to a recorded plat in their final end-use configuration.

All capitalized terms not defined herein shall retain the meaning ascribed in the Master Report.

III. DISTRICT INFORMATION

The District was established by the Board of County Commissioners of Clay County pursuant to Clay County Ordinance No. 2024-20, which became effective June 12, 2024. The District encompasses approximately 1,035.55 acres and is generally located south and adjacent to Cathedral Oak Parkway and bifurcated by Peters Creek, entirely within Clay County.

The District is currently planned for a total of approximately 2,091 residential units. This Report will address Parcel 4 - Assessment Area One of the District which is the second area of development planned for 201 residential units.

Table 1 illustrates the District’s preliminary development plan for Parcel 4 – Assessment Area One.

IV. SERIES 2026 PARCEL 4 PROJECT

The Series 2026 Parcel 4 Project is the portion of the District’s total CIP necessary for the development of Parcel 4 – Assessment Area One. The cost of the Series 2026 Parcel 4 Project is estimated to be $23,592,178, and the District plans to issue Series 2026 Bonds to partially fund the

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

Series 2026 Parcel 4 Project in the amount of $4,273,616. The balance of the Series 2026 Parcel 4 Project will be funded by the Landowner, future bonds or other funding sources. For more detailed information regarding the Series 2026 Parcel 4 Project, see Table 2 and the Engineer’s Report.

V Series 2026 Bonds And Assessments

In order to provide for the financing of a portion of the Series 2026 Parcel 4 Project described in Section IV above, the District plans to issue the Series 2026 Bonds in the principal amount of
$5,165,000, which will be secured by the pledged revenues from the Series 2026 Assessments. The Series 2026 Assessments are to initially be levied in the annual amount of $357,855, excluding early payment discounts and collection costs, and shall be structured in the same manner as the Series 2026 Bonds, so that revenues from the Series 2026 Assessments are sufficient to fulfill the debt service requirements for the Series 2026 Bonds.

The Series 2026 Bonds will be structured as amortizing current-interest bonds, with repayment occurring in annual installments of principal and interest. Interest payment dates shall occur every May 1 and November 1 from the date of issuance until final maturity anticipated on May 1, 2057. The first scheduled payment of coupon interest is anticipated to be due on November 1, 2026, although interest will be capitalized through November 1, 2027, and the first installment of principal due on May 1, 2028. The annual principal payment will be due each May 1 thereafter until final maturity. The Series 2026 Assessments are expected to initially be levied on the 56.65 acres within Parcel 4 – Assessment Area One.

It is expected that the Series 2026 Assessment installments assigned to Platted Units will be collected via the Clay County property tax bill process (Uniform Method) 1. Accordingly, the Series 2026 Assessments have been adjusted to allow for current County collection costs and the possibility that landowners will avail themselves of early payment discounts. Currently, the aggregate rate for

costs and discounts is 6.0%, but this may fluctuate as provided by law.

The Series 2026

Assessments levied on Unplatted Parcels are expected to be collected directly by the District and will not include any county collection costs or early payment discounts. However, for purposes of this Report, all units are inclusive of the associated costs and discounts for presentation purposes only.
VI. Series 2026 Assessment Allocation

The District’s Master Report contains specific special benefit findings relative to the Maximum Assessments and the District’s Capital Improvement Program. As stated therein, the CIP costs per unit and Maximum Assessments were allocated pursuant to an EAU-based methodology.

Per Section IV above, the Series 2026 Bonds will fund a portion of the District’s Series 2026

1 The ultimate collection procedure is subject to District approval. Nothing herein should be construed as mandating collections that conflict with the terms, privileges, and remedies provided in the Indentures, Florida law, assessment resolutions, and/or other applicable agreements.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

Parcel 4 Project, which is expected to be constructed in a manner generally proportionate to the construction of improvements for the CIP. Accordingly, it is expected that the improvements funded by the Series 2026 Bonds will confer benefit on the District’s developable parcels in a manner generally proportionate to and consistent with the allocation of benefit found in the Master Report. Therefore, it is proper to impose Series 2026 Assessments on the units specified in Table 5, as well as the District’s Preliminary Series 2026 Assessment Roll on page A-6.

A. Assessment Allocation

The Series 2026 Assessments are expected to ultimately be allocated to the 201 Platted Units planned for development within Parcel 4 – Assessment Area One, and have been sized based on target annual assessments provided by the Landowner. As allocated, the Series 2026 Assessments fall within the cost/benefit thresholds, as well as the Maximum Assessment levels, established by the Master Report. However, because the allocation of assessments differs from the assessments specified in the Master Report, the District will recognize an in-kind contribution of infrastructure from the Landowner in the form of an assessment credit representing the difference between the target Series 2026 Assessments and a baseline allocation of assessments. The total amount of this minimum contribution to ensure that all debt assessments are fairly and reasonably allocated has been calculated to be $58,324.18, as shown in Table 7.

The Preliminary Series 2026 Assessment Roll is located at page A-6.

B.	Assignment of Assessments

The Series 2026 Bonds have been sized based on the expectation that the Series 2026 Assessments will be fully absorbed by the 201 Platted Units planned for development in Parcel 4 – Assessment Area One.

All of the lands subject to the Series 2026 Assessments currently consist of Unplatted Parcels. Series 2026 Assessments will be initially levied on these Unplatted Parcels within Parcel 4 – Assessment Area One on an equal assessment per acre basis. At the time parcels are platted or otherwise subdivided into Platted Units, individual Series 2026 Assessments will be assigned to those Platted Units at the per-unit amounts described in Table 5, thereby reducing the Series 2026 Assessments encumbering the Unplatted Parcels by a corresponding amount. Any unassigned amount of Series 2026 Assessments encumbering the remaining Unplatted Parcels within Parcel 4 – Assessment Area One will continue to be calculated and levied on an equal assessment per acre basis.

In the event an Unplatted Parcel is sold to a third party not affiliated with the Landowner, Series 2026 Assessments will be assigned to that Unplatted Parcel based on the maximum total number of Platted Units assigned by such Landowner to that Unplatted Parcel. The owner of that Unplatted Parcel will be responsible for the total assessments applicable to the Unplatted Parcel, regardless of the total number of Platted Units

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

ultimately platted. These total assessments are fixed to the Unplatted Parcel at the time of the sale. If the Unplatted Parcel is subsequently sub-divided into smaller parcels, the total assessments initially allocated to the Unplatted Parcel will be re-allocated to the smaller parcels pursuant to the methodology as described herein (i.e. equal assessment per acre until platting).

In the event that developable lands that derive benefit from the Series 2026 Parcel 4 Project are added to the District boundaries, whether by boundary amendment or increase in density, Series 2026 Assessments will be allocated to such lands, pursuant to the methodology described herein.

VII. PREPAYMENT AND TRUE-UP OF SERIES 2026 ASSESSMENTS
The Series 2026 Assessments encumbering a parcel may be prepaid in full at any time, without penalty, together with interest at the rate on the corresponding Series 2026 Bonds to the bond interest payment date that is more than forty-five (45) days next succeeding the date of prepayment. Notwithstanding the preceding provisions, the District does not waive the right to assess penalties which would otherwise be permissible if the parcel being prepaid is subject to an assessment delinquency.
Because this methodology assigns defined, fixed assessments to Platted Units, the District’s Series 2026 Assessment program is predicated on the development of lots in the manner described in Table 1. However, if a change in development results in net decrease in the overall principal amount of assessments able to be assigned to the units described in Table 1, then a true-up, or principal reduction payment, will be required to cure the deficiency. As the acreage within the assessment area is developed, it will be platted. At such time as a plat is presented to the District that involves the earliest of at least 25% of residential units or developable acres within the assessment area and continuing at each time when a subsequent plat is presented to the District (each such date being a “True-Up Date”), the District shall determine if the debt per acre remaining on the unplatted developable land is greater than the debt per developable acre of such land at the time of imposition of the initial assessment and, if it is, a True-Up Payment in the amount of such excess shall become due and payable by the Landowner in that tax year in accordance with this Report in addition to the regular assessment installment payable for lands owned by such Landowner. The District will ensure collection of such amounts in a timely manner in order to meet its debt service obligations and, in all cases, the Landowner agrees that such payments shall be made in order to ensure the District’s timely payments of the debt services obligations on the Series 2026 Bonds. The District shall record all True-Up Payments in its Improvement Lien book. For further detail and definitions related to the true-up process, please refer to the True-Up Agreement.

Similarly, if a reconfiguration of lands would result in the collection of substantial excess assessment revenue in the aggregate, then the District shall undertake a pro rata reduction of assessments for all assessed properties.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 – ASSESSMENT AREA ONE)

VIII. Additional Stipulations
Certain financing, development, and engineering data was provided by members of District staff, District underwriter, and/or the Landowner. The allocation methodology described herein was based on information provided by those professionals. Rizzetta & Company, Inc. makes no representations regarding said information transactions beyond restatement of the factual information necessary for compilation of this Report.

Rizzetta & Company, Inc., does not represent the District as a Municipal Advisor or Securities Broker nor is Rizzetta & Company, Inc., registered to provide such services as described in Section 15B of the Securities and Exchange Act of 1934, as amended. Similarly, Rizzetta & Company, Inc., does not provide the District with financial advisory services or offer investment advice in any form.

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FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4  ASSESSMENT AREA ONE)

EXHIBIT A:

FINAL ALLOCATION METHODOLOGY

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

A-1

TABLE 1: PRELIMINARY DEVELOPMENT PLAN

PARCEL 4
(ASSESSMENT AREA ONE)
	PRODUCT (ACTIVE ADULT)			(PHASE 4A)	
Single Family 40'	66
Single Family 50'	73
Single Family 60'	62

TOTAL:		201	

Preliminary Development Plan provided by the Developer and is subject to change.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

A-2

TABLE 2: CIP COST DETAIL

SERIES 2026
PARCEL 4
DESCRIPTION	PROJECT
Feed Mill Road (Excluding Utilities)	$271,919
Offsite Utility Potable Water, Reclaimed Water, and Sewer	$7,925,000
Offsite Utility Lift Stations, Potable Water, Reclaimed Water, and Sewer	$5,477,241
Stormwater Management Facilities, Flood Control and Drainage Collection System	$4,815,008
Planning, Engineering, Survey, and Regulatory	$2,958,267
Contingency (20%)	$2,144,743
INFRASTRUCTURE COST TOTAL	$23,592,178

SERIES 2026 PARCEL 4 PROJECT
Project costs to be funded by Series 2026 Bonds	$4,273,616
Recognized contribution of infrastruture to reach target assessment levels		$58,324 Remaining project costs to be funded by the Developer or future bonds	$19,260,238
TOTAL SERIES 2026 PARCEL 4 PROJECT	$23,592,178

Note: Infrastructure cost estimates provided by the District Engineer.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

A-3

TABLE 4: FINANCING INFORMATION - SERIES 2026 ASSESSMENTS

Interest Rate	5.64%

Initial Principal Amount	$5,165,000.00

Aggregate Annual Installment	$357,855.00	(1)
County Collection Costs	2%	$7,613.94	(2)
Maximum Early Payment Discount	4%	$15,227.87	(2)
Total Annual Installment	$380,696.81

Based on estimated MADS for the Series 2026 Bonds.
May vary as provided by law.

TABLE 3: FINANCING INFORMATION - SERIES 2026 BONDS

Date of Issuance	May 29, 2026
Final Maturity	May 1, 2057
Average Coupon Rate	5.64%
Maximum Annual Debt Service ("MADS")	$357,855.00

SOURCES:

Bond Proceeds:
Par Amount	$5,165,000.00
Original Issue Discount		($2,380.95)
TOTAL SOURCES	$5,162,619.05

USES:

Construction Account	($4,273,615.66)
Debt Service Reserve Fund (50% of MADS)	($178,927.50)
Capitalized Interest (thru 11/1/2027)	($399,576.89)
Cost of Issuance	($207,199.00)
Underwriter's Discount		($103,300.00)
TOTAL USES	($5,162,619.05)

Source: District Underwriter

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

A-4

TABLE 5: ASSESSMENT ALLOCATION - SERIES 2026 ASSESSMENTS (1)

PRODUCT
PRODUCT TOTAL	PER UNIT	ANNUAL	PER UNIT
	PRODUCT	 	UNITS	 	PRINCIPAL	 	PRINCIPAL		INSTLMT. (2)	INSTLMT. (2)
Single Family 40'	66	$1,432,687.16	$21,707.38	$105,599.11	$1,599.99 Single Family 50'	73	$1,881,758.60	$25,777.52	$138,698.84	$1,899.98 Single Family 60'	62	$1,850,554.24	$29,847.65	$136,398.86	$2,199.98
TOTAL		201	   $5,165,000.00  	  $380,696.81  

Allocation of Series 2026 Assessments to be levied based on target assessment levels. There will be a recognized in-kind contribution of infrastructure by the Landowner as an assessment credit to certain unit types in order to reach target assessment levels. See Table 7 for the contribution calculation.
Includes estimated Clay County collection costs/payment discounts, which may fluctuate.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

A-5

TABLE 6: CONTRIBUTION CALCULATION - SERIES 2026 PARCEL 4 PROJECT (1)

TOTAL COSTS
FUNDED	COST PER UNIT	COST PER UNIT	CONTRIBUTION	TOTAL
	PRODUCT			UNITS		 EAU 		(TARGET)		(TARGET) (3)		(EAU)			PER UNIT		CONTRIBUTION (4)
Single Family 40'	66	0.80	$1,185,431.61	$17,961.08	$17,077.39			$0.00			$0.00 Single Family 50'	73	1.00	$1,557,001.56	$21,328.79	$21,346.73		$17.94		$1,309.85 Single Family 60'	62	1.20	$1,531,182.50	$24,696.49	$25,616.08	$919.59	$57,014.33
201	$4,273,615.66	(2)	$58,324.18

All numbers are based on construction costs and thus are net of financing costs.
Total estimated Series 2026 Parcel 4 Project costs to be funded with Series 2026 Bonds. See Table 2.
Estimated per unit costs to be funded with Series 2026 Bonds based on target allocation.
Total contribution of infrastructure due to the difference between the target allocation and the EAU allocation. See Table 2 for the application of the contribution.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
FINAL SECOND SUPPLEMENTAL SPECIAL ASSESSMENT ALLOCATION REPORT CAPITAL IMPROVEMENT REVENUE BONDS, SERIES 2026 (PARCEL 4 - ASSESSMENT AREA ONE)

Includes estimated county collection costs/early payment discounts, which may fluctuate.
See Legal Descriptions Attached.

A-6

SERIES 2026 ASSESSMENT ROLL

Parcel (2)	ACREAGE	PRINCIPAL / ACRE	ASSMT / ACRE (1)

Pacel 4 - Assessment Area One

56.65

$91,173.87

$6,720.16

TOTAL SERIES 2026	$5,165,000.00	$380,696.81

A PORTION OF SECTION 36, TOWNSHIP 5 SOUTH, RANGE 25 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF SOUTH PARCEL AS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4892, PAGE 1323, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF REFERENCE, COMMENCE AT THE NORTHWEST CORNER OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, SAID COUNTY, SAID CORNER ALSO BEING THE NORTHEAST CORNER OF SECTION 1, TOWNSHIP 6 SOUTH, RANGE 25 EAST, SAID COUNTY; THENCE SOUTH 89°29'14” WEST, ALONG THE NORTHERLY LINE OF SAID SECTION 1, A DISTANCE OF 5209.35 FEET; THENCE NORTH 00°45'58” EAST, DEPARTING SAID NORTHERLY LINE, 543.03 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 1490.00 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 31°36'38”, AN ARC LENGTH OF 822.05 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 16°34'17” EAST, 811.66 FEET; THENCE NORTHERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1570.00 FEET, THROUGH A CENTRAL ANGLE OF 21°41'17”, AN ARC LENGTH OF 594.29 FEET TO THE POINT OF BEGINNING, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 21°32'48” EAST, 590.75 FEET.

FROM SAID POINT OF BEGINNING, THENCE NORTHERLY ALONG THE ARC OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1570.00 FEET, THROUGH A CENTRAL ANGLE OF 14°34'53, AN ARC LENGTH OF 399.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 03°24'42” EAST, 398.48 FEET; THENCE NORTH 04°13'57” WEST, ALONG A NON-TANGENT LINE, 19.38 FEET; THENCE NORTH 06°51'48” WEST, 125.16 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1442.48 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°49'14”, AN ARC LENGTH OF 398.30 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 16°42'43” WEST, 397.03 FEET; THENCE NORTH 01°49'53” EAST, ALONG A NON-TANGENT LINE, 18.60 FEET TO THE SOUTHEASTERLY CORNER OF TRACT “B”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, OF SAID PUBLIC RECORDS; THENCE NORTH 24°59'20” WEST, ALONG THE BOUNDARY LINE OF SAID TRACT “B”, 23.50 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 59.44 FEET; THENCE NORTHERLY CONTINUING ALONG SAID BOUNDARY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 25°34'59”, AN ARC LENGTH OF 26.54 FEET TO A POINT LYING ON THE SOUTHEASTERLY LINE OF PARCEL 812, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 12°11'50” WEST, 26.32 FEET; THENCE NORTH 59°13'45” EAST, DEPARTING SAID BOUNDARY LINE, ALONG SAID SOUTHEASTERLY LINE OF PARCEL 812 AND ALONG A NON-TANGENT LINE, 843.26 FEET; THENCE SOUTH 30°46'15” EAST, DEPARTING SAID SOUTHEASTERLY LINE, 95.94 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 50.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 65°36'40”, AN ARC LENGTH OF 57.26 FEET TO A POINT OF REVERSE CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 02°02'05” WEST, 54.18 FEET; THENCE SOUTHERLY ALONG THE ARC OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 25.00 FEET, THROUGH A CENTRAL ANGLE OF 49°59'21”, AN ARC LENGTH OF 21.81 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 09°50'44” WEST, 21.13 FEET; THENCE SOUTHERLY ALONG THE ARC OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 63.00 FEET, THROUGH A CENTRAL ANGLE OF 10°19'47”, AN ARC LENGTH OF 11.36 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 20°18'50” EAST, 11.34 FEET; THENCE SOUTH 25°28'43” EAST, 212.29 FEET; THENCE NORTH 80°09'02” EAST, 133.40 FEET; THENCE SOUTH 16°58'28” EAST, 137.03 FEET; THENCE NORTH 83°14'16” EAST, 7.81 FEET; THENCE SOUTH 06°45'44” EAST, 60.00 FEET; THENCE SOUTH 83°14'16” WEST, 25.21 FEET; THENCE SOUTH 07°31'18” EAST, 20.70 FEET; THENCE SOUTH 13°43'19” EAST, 10.11 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 350.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°10'05”, AN ARC LENGTH OF 159.85 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 21°56'13” EAST, 158.47 FEET; THENCE SOUTH 35°01'15” EAST, 141.91 FEET; THENCE SOUTH 54°58'45” WEST, 120.00 FEET; THENCE SOUTH 35°01'15” EAST,
10.49 FEET; THENCE SOUTH 54°58'45” WEST, 60.00 FEET; THENCE NORTH 35°01'15” WEST, 21.06 FEET; THENCE SOUTH 54°58'45” WEST, 191.24 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 780.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 11°51'36”, AN ARC LENGTH OF
161.46 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 48°54'46” EAST, 161.17 FEET; THENCE SOUTH 42°58'58” EAST, 365.20 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 800.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 18°35'55”, AN ARC LENGTH OF 259.69 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 52°16'55” EAST, 258.55 FEET; THENCE EASTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 25.00 FEET, THROUGH A CENTRAL ANGLE OF 37°25'15”, AN ARC LENGTH OF 16.33 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 80°17'30” EAST, 16.04 FEET; THENCE SOUTH 65°39'03” EAST, ALONG A NON-TANGENT LINE, 82.51 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 25.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 37°25'15”, AN ARC LENGTH OF 16.33 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 51°00'36” EAST, 16.04 FEET; THENCE EASTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 800.00 FEET, THROUGH A CENTRAL ANGLE OF 20°11'58”, AN ARC LENGTH OF 282.04 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 79°49'13” EAST, 280.58 FEET; THENCE NORTH 03°17'02” WEST, ALONG A NON-TANGENT LINE, 36.73 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 500.00 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 32°24'01”, AN ARC LENGTH OF 282.75 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 09°06'47” EAST, 278.99 FEET; THENCE NORTH 25°18'47” EAST, 108.69 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 490.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 18°10'34”, AN ARC LENGTH OF 155.44 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 34°24'04” EAST, 154.79 FEET; THENCE NORTH 43°29'21” EAST, 297.53 FEET; THENCE NORTH 10°51'38” EAST, 141.42 FEET; THENCE NORTH 63°46'46” EAST, 45.74 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 50.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 115°31'47”, AN ARC LENGTH OF 100.82 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 49°25'50” EAST, 84.59 FEET; THENCE NORTH 10°51'38” EAST, ALONG A NON-TANGENT LINE, 124.51 FEET; THENCE SOUTH 79°08'22” EAST, 60.00 FEET; THENCE SOUTH 57°10'09” EAST, 64.70 FEET; THENCE SOUTH 79°08'22” EAST, 105.27 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 650.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 38°49'31”, AN ARC LENGTH OF 440.46 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 59°43'36” EAST, 432.08 FEET; THENCE SOUTH 40°18'50" EAST, 192.23 FEET; THENCE SOUTH 49°41'10" WEST, 180.00 FEET; THENCE NORTH 40°18'50" WEST, 62.98 FEET; THENCE SOUTH 49°41'10" WEST, 40.02 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 960.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 12°12'53”, AN ARC LENGTH OF 204.66 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 43°34'43” WEST, 204.27 FEET; THENCE SOUTH 37°28'16” WEST, 268.56 FEET; THENCE SOUTH 27°58'30” WEST, 60.61 FEET; THENCE SOUTH 37°28'16” WEST, 60.02 FEET; THENCE NORTH 53°59'26” WEST, 120.20 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 50.00 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 88°32'28”, AN ARC LENGTH OF 77.27 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 75°21'06” WEST, 69.80 FEET; THENCE SOUTH 29°12'37” WEST, ALONG A NON-TANGENT LINE, 16.15 FEET; THENCE SOUTH 77°33'43” WEST, 205.82 FEET; THENCE SOUTH 89°48'46” WEST, 125.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 320.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 10°48'51”, AN ARC LENGTH OF 60.40 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 05°35'40” EAST, 60.31 FEET; THENCE SOUTH 11°00'06” EAST, 63.49 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1317.34 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 01°26'39”, AN ARC LENGTH OF 33.21 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 10°07'37” EAST, 33.21 FEET; THENCE NORTH 81°17'26” EAST, 129.84 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 960.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 07°50'39”, AN ARC LENGTH OF 131.43 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 04°47'14” EAST, 131.33 FEET; THENCE SOUTH 00°51'55” EAST, 183.64 FEET; THENCE SOUTH 89°08'05” WEST, 130.00 FEET; THENCE SOUTH 00°51'55” EAST, 21.30 FEET; THENCE SOUTH 89°08'05” WEST, 60.00 FEET; THENCE NORTH 00°51'55” WEST, 13.15 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 25.00 FEET; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 90°00'00”, AN ARC LENGTH OF 39.27 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 45°51'55” WEST, 35.36 FEET; THENCE SOUTH 89°08'05” WEST, 95.00 FEET; THENCE SOUTH 00°51'55” EAST, 120.00 FEET; THENCE SOUTH 89°08'05” WEST, 235.10 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 350.00 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°17'14”, AN ARC LENGTH OF 93.38 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 83°13'18” WEST, 93.11 FEET; THENCE NORTH 75°34'41” WEST, 105.78 FEET; THENCE NORTH 14°25'19” EAST, 120.00 FEET; THENCE NORTH 75°34'41” WEST, 113.73 FEET; THENCE NORTH 70°23'45” WEST, 105.90 FEET; THENCE NORTH 63°37'15” WEST, 254.13 FEET; THENCE NORTH 63°35'59” WEST, 110.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 1039.77 FEET; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°28'35”, AN ARC LENGTH OF 244.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 57°17'42” WEST, 244.00 FEET; THENCE NORTH 47°30'50” WEST, ALONG A NON-TANGENT LINE, 107.39 FEET; THENCE NORTH 43°50'45” WEST, 124.02 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 345.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°00'18”, AN ARC LENGTH OF 156.59 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 36°43'47” WEST,
155.25 FEET; THENCE NORTH 66°16'23" WEST, ALONG A NON-TANGENT LINE, 125.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 470.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 02°14'36", AN ARC LENGTH OF 18.40 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 22°36'19" WEST, 18.40 FEET; THENCE NORTH 68°30'59" WEST, ALONG A NON-TANGENT LINE, 60.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 530.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 04°03'38", AN ARC LENGTH OF 37.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 23°30'50" EAST, 37.55; THENCE NORTH 64°27'21” WEST, ALONG A NON-TANGENT LINE, 120.00 FEET; THENCE NORTH 79°17'51” WEST, 55.54 FEET TO THE POINT OF BEGINNING.

CONTAINING 56.65 ACRES, MORE OR LESS.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

Tab 5

RESOLUTION 2026-02

A RESOLUTION SETTING FORTH THE SPECIFIC TERMS OF THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT CAPITAL IMPROVEMENT  REVENUE  BONDS,  SERIES  2026  (PARCEL  4  –

ASSESSMENT

AREA

ONE);

CONFIRMING	THE	DISTRICT’S

PROVISION OF THE PROJECT AND ADOPTING AN ENGINEER’S

REPORT;

CONFIRMING	AND	ADOPTING	A	SUPPLEMENTAL

ASSESSMENT	REPORT;

CONFIRMING,

ALLOCATING

AND

AUTHORIZING  THE  COLLECTION  OF  SPECIAL  ASSESSMENTS

SECURING SERIES 2026 BONDS; PROVIDING FOR THE APPLICATION OF TRUE-UP PAYMENTS; PROVIDING FOR THE SUPPLEMENT TO

THE

IMPROVEMENT

LIEN

BOOK;

PROVIDING

FOR

THE

RECORDING OF A NOTICE OF SERIES 2026 SPECIAL ASSESSMENTS; PROVIDING FOR CONFLICTS, SEVERABILITY AND AN EFFECTIVE DATE.

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

WHEREAS, the District’s Board of Supervisors (the “Board”) has previously adopted, after notice and public hearing, Resolution 2025-08, relating to the imposition, levy, collection and enforcement of such special assessments; and

WHEREAS, pursuant to and consistent with the terms of Resolution 2025-08, this Resolution shall set forth the terms of bonds actually issued by the District, and apply the adopted special assessment methodology to the actual scope of the project to be completed with a series of bonds and the terms of the bond issue; and

WHEREAS, on May 14, 2026, the District entered into a Bond Purchase Agreement whereby it agreed to sell $5,160,000 of its Capital Improvement Revenue Bonds, Series 2026 (Parcel 4 – Assessment Area One) (the “Series 2026 Bonds”); and

WHEREAS, pursuant to and consistent with Resolution 2025-08, the District desires to set forth the particular terms of the sale of the Series 2026 Bonds and confirm the lien of the special assessments securing the Series 2026 Bonds on the lands within the Series 2025 Parcel 4 Project within the District.

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

1

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution is adopted pursuant to the provisions of Florida law, including Chapters 170 and 197, Florida Statutes, and Resolution 2025-08.

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

(a) On April 23, 2025, the District, after due notice and public hearing, adopted Resolution 2025-08, which, among other things, equalized, approved, confirmed and levied special assessments on all of the lands within the District benefitting from the infrastructure improvements authorized by the District. That Resolution provided that as each series of bonds was issued to fund all or any portion of the District’s infrastructure improvements within the District, a supplemental resolution would be adopted to set forth the specific terms of the bonds and certifying the amount of the lien of the special assessments securing any portion of the bonds, including interest, costs of issuance, the number of payments due, the True-Up amounts and the application of receipt of True-Up proceeds.

(b) The Feed Mill Community Development District Second Supplemental Engineer’s Report dated February 11, 2026, which is attached to this Resolution as Exhibit A (the “Engineer’s Report”), identifies and describes the capital infrastructure improvements included within the District’s “Series 2026 Parcel 4 Project”, a portion of which project is to be financed with the Series 2026 Bonds. The District hereby confirms that the Series 2026 Parcel 4 Project serves a proper, essential and valid public purpose. The Engineer’s Report is hereby confirmed. The District ratifies its use in connection with the sale of the Series 2026 Bonds.

(c) The Final Second Supplemental Special Assessment Allocation Report, dated May 14, 2025, attached to this Resolution as Exhibit B (the “Supplemental Assessment Report”), applies the adopted Master Assessment Methodology Report for the District to the actual terms of the Series 2026 Bonds. The Supplemental Assessment Report is hereby approved, adopted and confirmed. The District ratifies its use in connection with the sale of the Series 2026 Bonds.

(d) The Series 2026 Parcel 4 Project will specially benefit all of the developable acreage within Series 2026 Parcel 4 Project. It is reasonable, proper, just and right to assess the portion of the costs of the Series 2026 Parcel 4 Project financed, in part, with the Series 2026 Bonds to the specially benefited properties within Series 2026 Parcel 4 Project, as set forth in Resolution 2025-08 and this Resolution.

SECTION 3. CONFIRMATION OF MAXIMUM ASSESSMENT LIEN FOR
SERIES 2025 BONDS. As provided in Resolution 2025-08, this Resolution is intended to set forth the terms of the Series 2026 Bonds and the final amount of the lien of the special assessments securing those bonds. The Series 2026 Bonds, in a par amount of $5,165,000 shall bear such rates of interest and maturity as shown on Exhibit C attached hereto. The final payment on the Series 2025 Bonds shall be due on May 1, 2057. The sources and uses of funds of the Series 2026 Bonds shall be as set forth in Exhibit D. The debt service due on the Series 2026 Bonds is set forth on Exhibit E attached hereto. The lien of the special assessments securing the Series 2025 Bonds on 2

all developable land within Series 2026 Parcel 4 Project within the District shall be the principal amount due on the Series 2026 Bonds, together with accrued but unpaid interest thereon, and together with the amount by which annual assessments are grossed up to include early payment discounts required by law and costs of collection. The Series 2026 Bonds are secured solely by the lien against lands within Series 2026 Parcel 4 Project within the District.

SECTION 4. ALLOCATION OF ASSESSMENTS SECURING SERIES 2026 BONDS.

(a) The special assessments for the Series 2026 Bonds shall be allocated in accordance with Exhibit B, which allocation shall initially be on a per acre basis and further allocated as lands are platted. The Supplemental Assessment Report is consistent with the District’s Master Special Assessment Methodology Report. The Supplemental Assessment Report, considered herein, reflects the actual terms of the issuance of the District’s Series 2026 Bonds. The estimated costs of collection of the special assessments for the Series 2026 Bonds are as set forth in the Supplemental Assessment Report.

(b) The lien of the special assessments securing the Series 2026 Bonds includes all developable land within Series 2026 Parcel 4 Project within the District, as such land is ultimately defined and set forth in plats or other designations of developable acreage. To the extent land is added to Series 2026 Parcel 4 Project, the District may, by supplemental resolution, determine such land to be benefited by the Series 2026 Parcel 4 Project and reallocate the special assessments securing the Series 2026 Bonds and impose special assessments on the newly added and benefited property.

(c) Taking into account earnings on certain funds and accounts as set forth in the Master Trust Indenture, dated September 1, 2025 and Second Supplemental Trust Indenture, dated May 1, 2026 and by and between the District and U.S. Bank Trust Company, N.A., as trustee, the District shall begin annual collection of special assessments for the Series 2026 Bonds debt service payments using the methods available to it by law. Debt service payments and semi-annual installments of interest are reflected on Exhibit E.

(d) The District hereby certifies the special assessments for collection and directs staff to take all actions necessary to meet the time and other deadlines imposed by Clay County and Florida law for collection. The District Manager shall prepare or cause to be prepared each year a tax roll for purposes of effecting the collection of the special assessments and present same to the District Board as required by law. The District Manager is further directed and authorized to take all actions necessary to collect any prepayments of debt as and when due and to collect special assessments on unplatted property using methods available to the District authorized by Florida law in order to provide for the timely payment of debt service on the Series 2026 Bonds.

SECTION 5. APPLICATION OF TRUE-UP PAYMENTS. Pursuant to Resolution 2025-08, there may be required from time to time certain True-Up payments. As lands are platted within Series 2026 Parcel 4 Project, the special assessments securing the Series 2026 Bonds shall be allocated to the platted lands and the unplatted lands as set forth in Resolution 2025-08, this
3

Resolution, and the Supplemental Assessment Report, including, without limitation, the application of the True-Up process set forth in Section 8 of Resolution 2025-08. The True-Up calculations will be made in accordance with the process set forth in the Supplemental Assessment Report and be paid upon final platting of all units securing the Series 2026 Bonds. The District shall apply all True-Up payments related to the Series 2026 Bonds only to the credit of the Series 2026 Bonds. All True-Up payments, as well as all other prepayments of assessments, shall be deposited into the accounts specified in the Second Supplemental Indenture governing the Series 2026 Bonds.

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

SECTION 7. OTHER PROVISIONS REMAIN IN EFFECT. This Resolution is
intended to supplement Resolution 2025-08, which remains in full force and effect. This Resolution and Resolution 2025-08 shall be construed to the maximum extent possible to give full force and effect to the provisions of each resolution. All District resolutions or parts thereof in actual conflict with this Resolution are, to the extent of such conflict, superseded and repealed.

SECTION 8. ASSESSMENT NOTICE. The District’s Secretary is hereby directed to record a Supplemental Notice of Series 2026 Special Assessments securing the Series 2026 Bonds in the Official Records of Clay County, Florida, or such other instrument evidencing the actions taken by the District.

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

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

[Signatures on Next Page]

4

APPROVED and ADOPTED this 27th day of May, 2026.

ATTEST:

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary

Chairperson, Board of Supervisors

Exhibit A:

Feed Mill Community

Development District Second Supplemental

Engineer’s

Report to the Capital Improvement Plan.

Exhibit B:

Final Second Supplemental Special Assessment Allocation Report

Exhibit C:

Maturities and Coupon of Series 2026 Bonds

Exhibit D:

Sources and Uses of Funds for Series 2026 Bonds

Exhibit E:

Annual Debt Service Payment Due on Series 2026 Bonds

5

Exhibit A

Second Supplemental Engineer’s Report

FEED MILL
COMMUNITY DEVELOPMENT DISTRICT SECOND SUPPLEMENTAL ENGINEERS REPORT TO THE
CAPITAL IMPROVEMENT PLAN

Prepared for

Board of Supervisors Feed Mill
Community Development District

Prepared by
England-Thims & Miller, Inc. 14775 Old St. Augustine Road Jacksonville, Florida 32258
904-642-8990

E 14-011-29005

February 11, 2026
V. 3

BACKGROUND
The Feed Mill Community Development District (the “District”) is a 1,035.55± acre community development district located in Clay County, Florida. (See Plate 1, Location Map). The land within the District is partially undeveloped with ongoing construction of infrastructure improvements and with a defined wetland tributary of Peters Creek bifurcating the development into two parcels referred to as Parcel 1 and Parcel 4. The authorized land uses within the District include residential development as well as open space and recreational amenities. The District is just south and adjacent to Cathedral Oak Parkway. Cathedral Oak Parkway provides a roadway connection between Parcel 1 and Parcel 4. The full development within the District’s boundaries is as depicted in Table 1 and Table 2.
The District previously adopted the Feed Mill Community Development District Capital Improvement Plan, dated February 12, 2025, describing public improvements planned for the District (the “Capital Improvement Plan”) and the First Supplemental Engineers Report, dated August 1, 2025, describing improvements within the Parcel 1 – Assessment Area One.

TABLE 1
DEVELOPMENT ACREAGE SUMMARY

TABLE 2

DEVELOPMENT UNIT SUMMARY

Plate 2A depicts the District boundary and Plate 3A provides the legal description of the District. The current proposed Neighborhood Master Plan is depicted on Plate 12. The currently proposed development program for the Parcel 4 – Assessment Area One project is presented below in Table 3. The currently proposed boundary and legal description for Parcel 4 – Assessment Area One is depicted on Plates 2B and 3B.
1

UNIT TYPE

Parcel 1

Parcel 4

TOTAL

MFR 25'

251

0

251

SF 40’

219

215

434

SF 50’

387

514

901

SF 60’

255

250

505

TOTALS

1,112

979

2,091

TYPE

Parcel 1 Area (Acres)

Parcel 4 Area (Acres)

Total Area (Acres)

Residential

307.05

296.11

603.16

Parks and Open Space

99.94

79.25

179.19

Wetlands

109.91

113.56

223.47

Upland Buffer

6.18

23.55

29.73

TOTALS

523.08

512.47

1035.55

TABLE 3

Parcel 4 – Assessment Area One
DEVELOPMENT PROGRAM

To serve the residents of the District, the District has developed this Supplemental Engineer’s Report (this "Report") to describe the improvements included in the first phases of its Capital Improvement Plan within the Parcel 4 – Assessment Area One project, including certain utility, stormwater management, amenity and transportation infrastructures necessary for development within the District. Summaries of the proposed improvements and corresponding cost estimates follow in Table 4. A description and basis of costs for each improvement category is included in this Report.

Parcel 4 – Assessment Area One Project

Parcel 4 – Assessment Area One consists of approximately 56.65 gross acres and is planned to contain approximately 201 residential units. The District is issuing its Capital Improvement Revenue Bonds, Series 2026 (Parcel 4 – Assessment Area One) to finance a portion of the Parcel 4 – Assessment Area One project described herein. The Parcel 4 – Assessment Area One project consists of those portions of the Capital Improvement Plan associated with the development of Saratoga Springs Phase 4A and has a total estimated cost of $23,592,178 as more particularly described herein.

The description of the Parcel 4 – Assessment Area One project contained in this Report reflects the current intentions of the District. However, such project may be subject to modification in the future. The implementation of any improvement outlined within this Report requires final approval by the District’s Board of Supervisors.

Design and permitting for the improvements described in this Report is ongoing, and a tentative schedule is provided below:

Parcel 4 – Assessment Area One (Parcel 4 – Phase 4A)

*Phase 4A is currently anticipated to achieve substantial completion second quarter of 2026.

2

ITEM

ESTIMATED AGENCY APPROVAL DATE

1. CCUA

Received January 2025

2. SJRWMD

Received January 2025

3. Clay County

Received January 2025

4. ACOE Environmental

N/A

5. FDEP – Water and Sewer

Received January 2025

UNIT TYPE

Parcel 4 - Assessment Area One

MFR 25'

0

SF 40’

66

SF 50’

73

SF 60’

62

TOTALS

201

Offsite Utility Improvements

*Offsite Utility Improvements are currently anticipated to achieve substantial completion second quarter of 2026.

A jurisdictional wetland delineation for the entire property within the District has been completed and approved by the St. Johns River Water Management District (SJRWMD) and Army Corps of Engineers (ACOE). There is a reasonable expectation that the remaining required permits for the District improvements are obtainable, however, all permits are subject to final agency action.

Cost estimates contained in this Report are based upon year 2026 dollars and have been prepared based upon the best available information, but in some cases without benefit of final engineering design and environmental permitting. England-Thims & Miller, Inc. believes the estimates to be accurate based upon the available information, however, actual costs will vary based on final engineering, planning and approvals from regulatory agencies.

The overall Capital Improvement Plan will be built in a series of phases. Such phasing allows the clearing, earthwork, stormwater management systems, roadways, water, sewer, reclaimed water, entry features, recreational areas, landscaping, sidewalks and paths to be constructed as needed throughout the build-out of the District. While the Capital Improvement Plan is a system of improvements, the Parcel 4 – Assessment Area One project has been designed in such a manner so that Phase 4A can be developed and be self-sufficient, completely separate from Phase 4B, etc. The Parcel 4 – Assessment Area One project comprises the second phase of development within the District and the estimated costs of the improvements comprising the Parcel 4 – Assessment Area One project are enumerated in Table 4 below.

3

ITEM

ESTIMATED AGENCY APPROVAL DATE

1. CCUA

Received November 2024

2. SJRWMD

Received October 2024

3. Clay County

Received November 2024

4. ACOE Environmental

N/A

5. FDEP – Water and Sewer

Received December 2024

TABLE 4

Parcel 4 – Assessment Area One Summary of Infrastructure Costs

*Improvements with asterisk are currently not intended to be financed do the District

(Notes: Cost estimates in this Report are based upon 2026 dollars.)

4

Improvement Description

Parcel 4 – Assessment Area One Shared Master Infrastructure
Estimated Cost

Parcel 4 – Assessment Area One Residential Master Infrastructure
Estimated Cost

Total Estimated Cost

Feed Mill Road (excluding Utilities)

$0

$271,919*

$271,919*

Offsite Utility Potable Water, Reclaimed Water, and Sewer

$7,925,000*

$0

$7,925,000*

Onsite Utility Lift Stations, Potable Water, Reclaimed Water, and Sewer

$0

$5,477,241

$5,477,241

Stormwater Management Facilities, Flood Control and Drainage Collection System

$0

$4,815,008

$4,815,008

Planning, Engineering, Survey, and Regulatory

$1,268,000*

$1,690,267

$2,958,267

Contingency (10%)

$919,300*

$1,225,443

$2,144,743

INFRASTRUCTURE COST TOTAL

$10,112,300

$13,479,878

$23,592,178

MASTER INFRASTRUCTURE IMPROVEMENTS

Certain Master Infrastructure Improvements are required to serve the Parcel 4-Assessment Area One Project. Master Infrastructure Improvements listed are not intended to be financed by the CDD are intended to be financed by the Developer, with certain utility improvements funded by CCUA through an MSBU Program.

UTILITY IMPROVEMENTS

The District currently does not intend to finance certain offsite utility infrastructure necessary for development within the Parcel 4 – Assessment Area One project, these improvements may be funded by CCUA through an MSBU Program, which includes the water, sewer, and reclaimed water main. These improvements have been designed and are being constructed to Clay County Utility Authority (CCUA) and Florida Department of Environmental Protection (FDEP) standards and will be owned and maintained by CCUA. Offsite utility infrastructure improvements including potable water main, reclaimed water main and sanitary sewer forcemain are depicted on Plate 5 for informational purposes. Onsite utility infrastructure improvements including approximately 3,680 linear feet of force main along subdivision local roads and a sanitary sewer pump station are depicted on Plate 10 for informational purposes.

TRANSPORTATION IMPROVEMENTS

The District currently does not intend to finance the extension of Feed Mill Road that is necessary for access to the Parcel 4 – Assessment Area One project, these are currently intended to be financed by the developer. The proposed development will require an extension of Feed Mill Road from the roundabout at Cathedral Oak Parkway to the southern District boundary. This proposed improvement includes approximately 600 linear feet of a two-lane urban section with appropriate turn lanes and taper. These improvements are depicted on Plate 6 and Plate 7 for informational purposes.

RECREATIONAL IMPROVEMENTS

The District currently does not intend to finance the recreational improvements within or adjacent to the Parcel 4 – Assessment Area One project, these are currently intended to be financed by the developer.

LANDSCAPE/HARDSCAPE IMPROVEMENTS

The District currently does not intend to finance the landscape, hardscape, irrigation, fencing or signage within or adjacent to the Parcel 4 – Assessment Area One project, these are currently intended to be financed by the developer.

5

RESIDENTIAL MASTER INFRASTRUCTURE IMPROVEMENTS

The District currently intends to finance, design and construct certain residential master infrastructure improvements for the residential development within Parcel 4 – Assessment Area One. The improvements that the District currently intends to finance include complete construction of the basic infrastructure for each neighborhood within the District, including but not limited to: clearing and onsite grubbing, earthwork, stormwater management, flood control, subsurface drainage improvements, potable water, reclaimed water and sanitary sewer underground utility construction, drainage, grassing, and sodding. These items have been grouped into the broader categories listed in Table 3, as appropriate. Refer to Plates 8-12 for the Residential Master Infrastructure Improvements.

LOCAL NEIGHBORHOOD ROADWAYS

The District currently does not intend to finance the local roadways within the Parcel 4 – Assessment Area One project, these are currently intended to be financed by the developer.

DRAINAGE/FLOOD CONTROL

The District currently intends to finance certain surface and subsurface drainage improvements necessary for development within the District boundaries. This section of infrastructure includes clearing, grubbing, roadway storm sewer collection system, stormwater management facilities, flood control, groundwater control, and surface and subsurface drainage improvements. Cost estimates include stormwater pond construction, drainage catch basins, inlets, underground storm piping within roadways, control structures, grading, sod and seeding as required for sediment and erosion control, etc. The clearing, grubbing and earthwork estimates include all work necessary for the complete right-of-way area, utility easements, and surrounding residential areas as necessary to provide a complete stormwater management system. Stormwater management facilities provide for the attenuation and treatment of stormwater runoff from the project in accordance with SJRWMD and Clay County standards. As part of the complete stormwater management system, earthwork will include portions of residential lots as needed to collect stormwater runoff into the stormwater management facilities. This earthwork will include placing fill above the 100-year pond design high water elevation to provide positive discharge from the residential lots to the storm sewer collection system. The District does not intend to finance any final lot grading. These improvements are required to serve Parcel 4 – Assessment Area One and future Parcel 4 Phases.

LOCAL WATER, RECLAIMED WATER, AND SANITARY SEWER

Water, sanitary sewer and reclaimed water cost estimates included in the Residential Master Infrastructure Improvements consist of the underground water and reclaimed water transmission systems and wastewater (sewer) collection system serving the development. Costs include piping, manholes, valves, services, and all appurtenances required in order to construct the system in accordance with CCUA and FDEP standards. These improvements are required to serve Parcel 4 – Assessment Area One and future Parcel 4 Phases.

6

BASIS OF COST ESTIMATE FOR RESIDENTIAL MASTER INFRASTRUCTURE IMPROVEMENTS

The following is the basis for the Residential Master Infrastructure Improvements cost estimates:

►

Water and sewer facilities have been designed in accordance with CCUA and FDEP Standards.

►

The stormwater management system has been designed in accordance with Clay County, FDEP and SJRWMD requirements.

►

Costs utilized were obtained from recent bids.

►

Costs have been included for excavation of material that may be unsuitable for the placement of structural fill.

►

The engineering/permitting fees and other professional fees, including but not limited to, design, permitting, geotechnical, environmental, construction engineering/inspection and legal services are included in the estimate.

►

For the purposes of this Report, a 20% contingency factor has been included.

►

Cost estimates contained in this Report are based upon year 2026 dollars and have been prepared based upon the best available information, but in some cases, without benefit of final engineering design and environmental permitting. England-Thims & Miller, Inc. believes the enclosed estimates to be accurate based upon the available information, however, actual costs will vary based upon final engineering, planning and approvals from regulatory authorities.

7

APPENDIX
Description

1.
2.

General Location Map
Boundary

a.
b.

District Boundary
Parcel 4 – Assessment Area One

3.

Legal Description

a.
b.

District Boundary
Parcel 4 – Assessment Area One

4.
5.

Future Land Use Map
Master Utility Improvements

a.
b.
c.

Water Transmission Facility Sewer Transmission Facility
Reclaimed Water Transmission Facility

6.
7.
8.
9.
10.
11.
12.

Feed Mill Roadway Improvements Feed Mill Roadway Typical Section Reclaimed Water Distribution System Water Distribution System
Sanitary Sewer Collection System
Stormwater Management System Neighborhood Master Plan

8

G:\14-011\14-011-29 - Saratoga Springs\14-011-29005 -

Feed Mill CDD

0

1

2

Miles

Date: 4/16/2024

First Coast Expwy

Nipa Dr

Toms Ct

State Road 16 W

Ct

Whisper Tr

N Kentucky Av

Haymon Av

op Bl

Simmons Tr

Henley Rd

County Road 218

Studio Rd

Saunders Rd

Little Dairy Rd

Paso Fino Rd

Gary Rd

Ron Rd

Springbank Rd

Wiseman Rd

County Road 315

Murrhee Rd

Manhattan Av

105

Jacksonville
10

295	295

16

Source: ETM, Clay County

Feed Mill Community Development District

General Location

Sandridge Rd

n

V	Pl

Medinah Ln

Jims Ct

Eds Ct	Knowles Rd

Dwight St Morton St
Caroline Blvd

Adams Rd

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

A PORTION OF SECTION 36, TOWNSHIP 5 SOUTH, RANGE 25 EAST, TOGETHER WITH A PORTION OF SECTIONS 31 AND 32, TOWNSHIP 5 SOUTH, RANGE 26 EAST, AND A PORTION OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, ALL LYING IN CLAY COUNTY, FLORIDA, TOGETHER WITH TRACT “C”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, BEING A PORTION OF THOSE LANDS DESCRIBED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE NORTHWEST CORNER OF SAID SECTION 6, SAID CORNER ALSO BEING THE NORTHEAST CORNER OF SECTION 1, TOWNSHIP 6 SOUTH, RANGE 25 EAST; THENCE SOUTH 89°29'14” WEST, ALONG THE NORTHERLY LINE OF SAID SECTION 1, A DISTANCE OF 5299.37 FEET TO THE NORTHWEST CORNER THEREOF, SAID CORNER ALSO BEING THE SOUTHEAST CORNER OF SECTION 35, TOWNSHIP 5 SOUTH, RANGE 25 EAST; THENCE NORTH 00°45'58” EAST, ALONG THE EAST LINE OF SAID SECTION 35, A DISTANCE OF 2672.52 FEET TO A POINT LYING ON THE SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY, A VARIABLE WIDTH RIGHT OF WAY AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS; THENCE NORTHEASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE NORTHWESTERLY HAVING A RADIUS OF 2380.00 FEET, THROUGH A CENTRAL ANGLE OF 05°40'46”, AN ARC LENGTH OF 235.92 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 62°04'08” EAST, 235.82 FEET; THENCE NORTH 59°13'45” EAST, CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 71.83 FEET TO THE WESTERLY MOST CORNER OF TRACT “B”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, OF SAID PUBLIC RECORDS; THENCE SOUTHEASTERLY, EASTERLY AND NORTHEASTERLY ALONG THE BOUNDARY LINE OF SAID TRACT “B” THE FOLLOWING 5 COURSES: COURSE 1, THENCE SOUTHEASTERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 34.20 FEET, THROUGH A CENTRAL ANGLE OF 75°02'48”, AN ARC LENGTH OF 44.79 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 63°05'32” EAST, 41.66 FEET; COURSE 2, THENCE SOUTH 25°04'00” EAST, ALONG A NON-TANGENT LINE, 31.03 FEET; COURSE 3, THENCE NORTH 64°59'52” EAST, 92.00 FEET; COURSE 4, THENCE NORTH 24°59'20” WEST, 23.50 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 59.72 FEET; COURSE 5, THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 70°30'00”, AN ARC LENGTH OF 73.48 FEET TO A POINT LYING ON SAID SOUTHERLY RIGHT OF WAY LINE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 10°19'20” EAST, 68.93 FEET; THENCE EASTERLY ALONG SAID SOUTHERLY RIGHT OF WAY LINE THE FOLLOWING 37 COURSES: COURSE 1, THENCE NORTH 59°13'45” EAST, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 1300.00 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 2220.00 FEET; COURSE 2, THENCE EASTERLY CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 23°57'17”, AN ARC LENGTH OF 928.16 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 71°12'24” EAST, 921.41 FEET; COURSE 3, THENCE SOUTH 00°13'32” WEST, ALONG A NON-TANGENT LINE, 101.98 FEET; COURSE 4, THENCE SOUTH 89°46'28” EAST, 88.00 FEET; COURSE 5, THENCE NORTH 00°13'32” EAST, 111.07 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 2220.00 FEET; COURSE 6, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 22°32'47”, AN ARC LENGTH OF 873.59 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 83°15'34” EAST, 867.96 FEET; COURSE 7, THENCE SOUTH 71°54'27” EAST, ALONG A NON-TANGENT LINE, 315.87 FEET; COURSE 8, THENCE SOUTH 17°55'18” WEST, 25.92 FEET; COURSE 9, THENCE SOUTH 72°00'40” EAST, 40.00 FEET; COURSE 10, THENCE NORTH 17°55'02” EAST, 26.00 FEET; COURSE 11, THENCE SOUTH
71°59'22” EAST, 828.15 FEET; COURSE 12, THENCE SOUTH 27°13'54” EAST, 66.33 FEET; COURSE 13, THENCE SOUTH 17°40'24” WEST, 15.75 FEET; COURSE 14, THENCE SOUTH 71°56'42” EAST, 50.09 FEET; COURSE 15, THENCE NORTH 17°53'18” EAST, 62.78 FEET; COURSE 16, THENCE SOUTH 71°59'11” EAST, 733.04 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 17, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°25'04”, AN ARC LENGTH OF 15.77 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 72°11'43” EAST, 15.77 FEET; COURSE 18, THENCE SOUTH 17°35'45” WEST, ALONG A NON-TANGENT LINE,
50.00 FEET; COURSE 19, THENCE SOUTH 73°21'50” EAST, 74.13 FEET; COURSE 20, THENCE NORTH 15°40'35” EAST, 50.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 21, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 19°44'10”, AN ARC LENGTH OF 745.06 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 84°11'29” EAST, 741.38 FEET; COURSE 22, THENCE SOUTH 04°34'58” EAST, ALONG A NON-TANGENT LINE, 25.95 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2188.99 FEET; COURSE 23, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 01°02'27”, AN ARC LENGTH OF 39.76 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 85°24'50” EAST, 39.76 FEET; COURSE 24, THENCE NORTH 04°34'58” WEST, ALONG A NON-TANGENT LINE, 25.95 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2162.99 FEET; COURSE 25, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°20'41”, AN ARC LENGTH OF 503.78 FEET TO A POINT OF REVERSE CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 78°12'54” EAST, 502.64 FEET; COURSE 26, THENCE EASTERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 2003.00 FEET, THROUGH A CENTRAL ANGLE OF 21°53'04”, AN ARC LENGTH OF 765.05 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 82°29'50” EAST, 760.41 FEET; COURSE 27, THENCE SOUTH 03°25'34” WEST, ALONG A NON-TANGENT LINE, 5.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHERLY HAVING A RADIUS OF 1998.00 FEET; COURSE 28, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 24°44'50”, AN ARC LENGTH OF 862.97 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 74°12'00” EAST, 856.28 FEET; COURSE 29, THENCE NORTH 28°10'55” EAST, ALONG A NON-TANGENT LINE, 20.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 2018.00 FEET; COURSE 30, THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°52'45”, AN ARC LENGTH OF 488.83 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 54°53'56” EAST, 487.64 FEET; COURSE 31, THENCE SOUTH 47°56'37” EAST, ALONG A NON-TANGENT LINE, 131.94 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 2148.00 FEET; COURSE 32, THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°34'43”, AN ARC LENGTH OF 584.04 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 55°43'59” EAST, 582.24 FEET; COURSE 33, THENCE SOUTH 26°00'29” WEST, ALONG A NON-TANGENT LINE, 58.01 FEET; COURSE 34, THENCE SOUTH 64°05'01” EAST, 50.00 FEET; COURSE 35, THENCE NORTH 26°00'29” EAST, 58.10 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2148.00 FEET; COURSE 36, THENCE EASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°29'04”, AN ARC LENGTH OF 992.90 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 78°05'54” EAST, 984.08 FEET; COURSE 37, THENCE NORTH 88°39'34” EAST, 396.90 FEET TO A POINT LYING ON THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED; THENCE SOUTH 01°47'04” WEST, DEPARTING SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG SAID WESTERLY RIGHT OF WAY LINE, 609.24 FEET TO THE NORTHERLY MOST CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4352, PAGE 1043, OF SAID PUBLIC RECORDS; THENCE SOUTHERLY ALONG THE WESTERLY LINE OF LAST SAID LANDS THE FOLLOWING 3 COURSES: COURSE 1, THENCE SOUTH 04°05'13” WEST, DEPARTING SAID WESTERLY RIGHT OF WAY LINE, 300.17 FEET; COURSE 2, THENCE SOUTH 01°46'47” WEST, 440.22 FEET; COURSE 3, THENCE SOUTH 00°29'48” EAST, 302.09 FEET TO THE SOUTHERLY MOST CORNER THEREOF, SAID CORNER LYING ON SAID WESTERLY RIGHT OF WAY LINE; THENCE SOUTH 01°47'04” WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 108.24 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 11499.16 FEET; THENCE SOUTHERLY, CONTINUING ALONG SAID WESTERLY RIGHT OF WAY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°17'06”, AN ARC LENGTH OF 57.22 FEET TO THE NORTHERLY MOST CORNER OF EXHIBIT “A”, DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4717, PAGE 1930, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 01°41'50” WEST, 57.22 FEET; THENCE SOUTH 19°41'34” WEST, ALONG THE WESTERLY LINE OF SAID EXHIBIT “A” AND ALONG A NON-TANGENT LINE, 47.89 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 11514.16 FEET; THENCE SOUTHERLY, CONTINUING ALONG SAID WESTERLY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 00°29'51”, AN ARC LENGTH OF 100.00 FEET TO A POINT LYING ON THE EASTERLY PROLONGATION OF THE NORTHERLY LINE OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 3729, PAGE 53, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 01°04'46” WEST, 100.00 FEET; THENCE SOUTH 89°35'27” WEST, ALONG SAID EASTERLY PROLONGATION AND SAID NORTHERLY LINE, 1093.78 FEET TO THE NORTHWESTERLY CORNER THEREOF; THENCE SOUTH 01°01'02” EAST, ALONG THE WESTERLY LINE THEREOF, 853.28 FEET TO THE SOUTHWESTERLY CORNER THEREOF; THENCE NORTH 89°35'27” EAST, ALONG THE SOUTHERLY LINE THEREOF AND ITS EASTERLY PROLONGATION, 1097.04 FEET TO A POINT LYING ON SAID WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO.
315; THENCE SOUTH 00°24'33” EAST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 4497.42 FEET TO A POINT LYING ON THE SOUTHERLY LINE OF SAID SECTION 6; THENCE SOUTH 89°29'42” WEST, ALONG SAID SOUTHERLY LINE, 1286.31 FEET TO THE SOUTHEASTERLY CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 659, PAGE 66, OF SAID PUBLIC RECORDS; THENCE NORTH 00°24'23” WEST, ALONG THE EASTERLY LINE THEREOF, 2227.59 FEET TO THE NORTHEASTERLY CORNER THEREOF; THENCE ALONG THE NORTHEASTERLY LINE THEREOF THE FOLLOWING 3 COURSES: COURSE 1, THENCE NORTH 75°24'05” WEST, 700.00 FEET; COURSE 2, THENCE NORTH 58°32'13” WEST, 1724.82 FEET; COURSE 3, THENCE NORTH 74°09'16” WEST, 1890.83 FEET TO THE NORTHWESTERLY CORNER THEREOF, SAID CORNER LYING ON THE EAST LINE OF SAID SECTION 1; THENCE NORTH 01°05'43” WEST, ALONG SAID EAST LINE, 1431.42 FEET TO THE POINT OF BEGINNING.

LESS AND EXCEPT THE FOLLOWING DESCRIBED LANDS:

COMMERCIAL PARCEL 2

A PORTION OF SECTION 31 AND SECTION 32, TOWNSHIP 5 SOUTH, RANGE 26 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE INTERSECTION OF THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED, WITH THE SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY, A VARIABLE WIDTH RIGHT OF WAY AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS; THENCE SOUTH 01°47'04” WEST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 609.24 FEET TO THE NORTHERLY MOST CORNER OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4352, PAGE 1043, OF SAID PUBLIC RECORDS; THENCE SOUTH 04°05'13” WEST, ALONG THE WESTERLY LINE OF LAST SAID LANDS, 300.17 FEET; THENCE SOUTH 01°46'47” WEST, CONTINUING ALONG SAID WESTERLY LINE, 350.10 FEET TO A POINT LYING ON THE SOUTHERLY LINE OF EXHIBIT “A”, AS DESCRIBED AND RECORDED IN ORDINANCE 2022-24, OF SAID PUBLIC RECORDS; THENCE NORTH 87°52'18” WEST, DEPARTING SAID WESTERLY LINE AND ALONG SAID SOUTHERLY LINE,
942.57 FEET TO THE SOUTHWESTERLY CORNER THEREOF; THENCE NORTH 01°47'04” EAST, ALONG THE WESTERLY LINE THEREOF, 1274.57 FEET TO A POINT LYING ON SAID SOUTHERLY RIGHT OF WAY LINE OF CATHEDRAL OAK PARKWAY; THENCE EASTERLY, ALONG SAID SOUTHERLY RIGHT OF WAY LINE AND ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 2148.00 FEET, THROUGH A CENTRAL ANGLE OF 14°58'38”, AN ARC LENGTH OF 561.49 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 83°51'07” EAST, 559.89 FEET; THENCE NORTH 88°39'34” EAST, CONTINUING ALONG SAID SOUTHERLY RIGHT OF WAY LINE, 396.90 FEET TO THE POINT OF BEGINNING.

BYPASS R/W PARCEL

A PORTION OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF THOSE LANDS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 1863, PAGE 1745, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF BEGINNING, COMMENCE AT THE INTERSECTION OF THE WESTERLY RIGHT OF WAY LINE OF COUNTY ROAD NO. 315, AN 80 FOOT RIGHT OF WAY AS PRESENTLY ESTABLISHED, WITH THE SOUTHERLY LINE OF SAID SECTION 6; THENCE SOUTH 89°29'42” WEST, ALONG THE SOUTHERLY LINE OF SAID SECTION 6, A DISTANCE OF 1142.79 FEET; THENCE NORTH 40°12'48” EAST, DEPARTING SAID SOUTHERLY LINE, 1113.51 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1422.50 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 40°37'22”, AN ARC LENGTH OF 1008.55 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 19°54'08” EAST, 987.56 FEET; THENCE NORTH 89°35'27” EAST, ALONG A NON-TANGENT LINE, 75.00 FEET TO A POINT LYING ON SAID WESTERLY RIGHT OF WAY LINE; THENCE SOUTH 00°24'33” EAST, ALONG SAID WESTERLY RIGHT OF WAY LINE, 1769.41 FEET TO THE POINT OF BEGINNING.

LESS ALL EXCEPTIONS, CONTAINING 1035.55 ACRES, MORE OR LESS.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

A PORTION OF SECTION 36, TOWNSHIP 5 SOUTH, RANGE 25 EAST, CLAY COUNTY, FLORIDA, BEING A PORTION OF SOUTH PARCEL AS DESCRIBED AND RECORDED IN OFFICIAL RECORDS BOOK 4892, PAGE 1323, OF THE PUBLIC RECORDS OF SAID COUNTY, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:

FOR A POINT OF REFERENCE, COMMENCE AT THE NORTHWEST CORNER OF SECTION 6, TOWNSHIP 6 SOUTH, RANGE 26 EAST, SAID COUNTY, SAID CORNER ALSO BEING THE NORTHEAST CORNER OF SECTION 1, TOWNSHIP 6 SOUTH, RANGE 25 EAST, SAID COUNTY; THENCE SOUTH 89°29'14” WEST, ALONG THE NORTHERLY LINE OF SAID SECTION 1, A DISTANCE OF 5209.35 FEET; THENCE NORTH 00°45'58” EAST, DEPARTING SAID NORTHERLY LINE, 543.03 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 1490.00 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 31°36'38”, AN ARC LENGTH OF 822.05 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 16°34'17” EAST, 811.66 FEET; THENCE NORTHERLY ALONG THE ARC OF A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1570.00 FEET, THROUGH A CENTRAL ANGLE OF 21°41'17”, AN ARC LENGTH OF 594.29 FEET TO THE POINT OF BEGINNING, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 21°32'48” EAST, 590.75 FEET.

FROM SAID POINT OF BEGINNING, THENCE NORTHERLY ALONG THE ARC OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1570.00 FEET, THROUGH A CENTRAL ANGLE OF 14°34'53, AN ARC LENGTH OF 399.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 03°24'42” EAST, 398.48 FEET; THENCE NORTH 04°13'57” WEST, ALONG A NON-TANGENT LINE, 19.38 FEET; THENCE NORTH 06°51'48” WEST, 125.16 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1442.48 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°49'14”, AN ARC LENGTH OF 398.30 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 16°42'43” WEST, 397.03 FEET; THENCE NORTH 01°49'53” EAST, ALONG A NON-TANGENT LINE, 18.60 FEET TO THE SOUTHEASTERLY CORNER OF TRACT “B”, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 REPLAT, RECORDED IN PLAT BOOK 71, PAGES 22 THROUGH 25, OF SAID PUBLIC RECORDS; THENCE NORTH 24°59'20” WEST, ALONG THE BOUNDARY LINE OF SAID TRACT “B”, 23.50 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 59.44 FEET; THENCE NORTHERLY CONTINUING ALONG SAID BOUNDARY LINE AND ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 25°34'59”, AN ARC LENGTH OF 26.54 FEET TO A POINT LYING ON THE SOUTHEASTERLY LINE OF PARCEL 812, AS DEPICTED ON CATHEDRAL OAK PARKWAY PHASE 1 SECOND REPLAT, RECORDED IN PLAT BOOK 73, PAGES 6 THROUGH 14, OF SAID PUBLIC RECORDS, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 12°11'50” WEST, 26.32 FEET; THENCE NORTH 59°13'45” EAST, DEPARTING SAID BOUNDARY LINE, ALONG SAID SOUTHEASTERLY LINE OF PARCEL 812 AND ALONG A NON-TANGENT LINE, 843.26 FEET; THENCE SOUTH 30°46'15” EAST, DEPARTING SAID SOUTHEASTERLY LINE, 95.94 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 50.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 65°36'40”, AN ARC LENGTH OF 57.26 FEET TO A POINT OF REVERSE CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 02°02'05” WEST, 54.18 FEET; THENCE SOUTHERLY ALONG THE ARC OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 25.00 FEET, THROUGH A CENTRAL ANGLE OF 49°59'21”, AN ARC LENGTH OF 21.81 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 09°50'44” WEST, 21.13 FEET; THENCE SOUTHERLY ALONG THE ARC OF A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 63.00 FEET, THROUGH A CENTRAL ANGLE OF 10°19'47”, AN ARC LENGTH OF 11.36 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 20°18'50” EAST, 11.34 FEET; THENCE SOUTH 25°28'43” EAST, 212.29 FEET; THENCE NORTH 80°09'02” EAST, 133.40 FEET; THENCE SOUTH 16°58'28” EAST, 137.03 FEET; THENCE NORTH 83°14'16” EAST, 7.81 FEET; THENCE SOUTH 06°45'44” EAST, 60.00 FEET; THENCE SOUTH 83°14'16” WEST, 25.21 FEET; THENCE SOUTH 07°31'18” EAST, 20.70 FEET; THENCE SOUTH 13°43'19” EAST, 10.11 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 350.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°10'05”, AN ARC LENGTH OF 159.85 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 21°56'13” EAST, 158.47 FEET; THENCE SOUTH 35°01'15” EAST, 141.91 FEET; THENCE SOUTH 54°58'45” WEST, 120.00 FEET; THENCE SOUTH 35°01'15” EAST,
10.49 FEET; THENCE SOUTH 54°58'45” WEST, 60.00 FEET; THENCE NORTH 35°01'15” WEST, 21.06 FEET; THENCE SOUTH 54°58'45” WEST, 191.24 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 780.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 11°51'36”, AN ARC LENGTH OF
161.46 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 48°54'46” EAST, 161.17 FEET; THENCE SOUTH 42°58'58” EAST, 365.20 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 800.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 18°35'55”, AN ARC LENGTH OF 259.69 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 52°16'55” EAST, 258.55 FEET; THENCE EASTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 25.00 FEET, THROUGH A CENTRAL ANGLE OF 37°25'15”, AN ARC LENGTH OF 16.33 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 80°17'30” EAST, 16.04 FEET; THENCE SOUTH 65°39'03” EAST, ALONG A NON-TANGENT LINE, 82.51 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 25.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 37°25'15”, AN ARC LENGTH OF 16.33 FEET TO A POINT OF COMPOUND CURVATURE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 51°00'36” EAST, 16.04 FEET; THENCE EASTERLY ALONG THE ARC OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 800.00 FEET, THROUGH A CENTRAL ANGLE OF 20°11'58”, AN ARC LENGTH OF 282.04 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 79°49'13” EAST, 280.58 FEET; THENCE NORTH 03°17'02” WEST, ALONG A NON-TANGENT LINE, 36.73 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 500.00 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 32°24'01”, AN ARC LENGTH OF 282.75 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 09°06'47” EAST, 278.99 FEET; THENCE NORTH 25°18'47” EAST, 108.69 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 490.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 18°10'34”, AN ARC LENGTH OF 155.44 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 34°24'04” EAST, 154.79 FEET; THENCE NORTH 43°29'21” EAST, 297.53 FEET; THENCE NORTH 10°51'38” EAST, 141.42 FEET; THENCE NORTH 63°46'46” EAST, 45.74 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 50.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 115°31'47”, AN ARC LENGTH OF 100.82 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 49°25'50” EAST, 84.59 FEET; THENCE NORTH 10°51'38” EAST, ALONG A NON-TANGENT LINE, 124.51 FEET; THENCE SOUTH 79°08'22” EAST, 60.00 FEET; THENCE SOUTH 57°10'09” EAST, 64.70 FEET; THENCE SOUTH 79°08'22” EAST, 105.27 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 650.00 FEET; THENCE SOUTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 38°49'31”, AN ARC LENGTH OF 440.46 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 59°43'36” EAST, 432.08 FEET; THENCE SOUTH 40°18'50" EAST, 192.23 FEET; THENCE SOUTH 49°41'10" WEST, 180.00 FEET; THENCE NORTH 40°18'50" WEST, 62.98 FEET; THENCE SOUTH 49°41'10" WEST, 40.02 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 960.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 12°12'53”, AN ARC LENGTH OF 204.66 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 43°34'43” WEST, 204.27 FEET; THENCE SOUTH 37°28'16” WEST, 268.56 FEET; THENCE SOUTH 27°58'30” WEST, 60.61 FEET; THENCE SOUTH 37°28'16” WEST, 60.02 FEET; THENCE NORTH 53°59'26” WEST, 120.20 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 50.00 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 88°32'28”, AN ARC LENGTH OF 77.27 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 75°21'06” WEST, 69.80 FEET; THENCE SOUTH 29°12'37” WEST, ALONG A NON-TANGENT LINE, 16.15 FEET; THENCE SOUTH 77°33'43” WEST, 205.82 FEET; THENCE SOUTH 89°48'46” WEST, 125.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE EASTERLY HAVING A RADIUS OF 320.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 10°48'51”, AN ARC LENGTH OF 60.40 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 05°35'40” EAST, 60.31 FEET; THENCE SOUTH 11°00'06” EAST, 63.49 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 1317.34 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 01°26'39”, AN ARC LENGTH OF 33.21 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 10°07'37” EAST, 33.21 FEET; THENCE NORTH 81°17'26” EAST, 129.84 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE WESTERLY HAVING A RADIUS OF 960.00 FEET; THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 07°50'39”, AN ARC LENGTH OF 131.43 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 04°47'14” EAST, 131.33 FEET; THENCE SOUTH 00°51'55” EAST, 183.64 FEET; THENCE SOUTH 89°08'05” WEST, 130.00 FEET; THENCE SOUTH 00°51'55” EAST, 21.30 FEET; THENCE SOUTH 89°08'05” WEST, 60.00 FEET; THENCE NORTH 00°51'55” WEST, 13.15 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHWESTERLY HAVING A RADIUS OF 25.00 FEET; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 90°00'00”, AN ARC LENGTH OF 39.27 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 45°51'55” WEST, 35.36 FEET; THENCE SOUTH 89°08'05” WEST, 95.00 FEET; THENCE SOUTH 00°51'55” EAST, 120.00 FEET; THENCE SOUTH 89°08'05” WEST, 235.10 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY HAVING A RADIUS OF 350.00 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 15°17'14”, AN ARC LENGTH OF 93.38 FEET TO THE POINT OF TANGENCY OF SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 83°13'18” WEST, 93.11 FEET; THENCE NORTH 75°34'41” WEST, 105.78 FEET; THENCE NORTH 14°25'19” EAST, 120.00 FEET; THENCE NORTH 75°34'41” WEST, 113.73 FEET; THENCE NORTH 70°23'45” WEST, 105.90 FEET; THENCE NORTH 63°37'15” WEST, 254.13 FEET; THENCE NORTH 63°35'59” WEST, 110.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE NORTHEASTERLY HAVING A RADIUS OF 1039.77 FEET; THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 13°28'35”, AN ARC LENGTH OF 244.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 57°17'42” WEST, 244.00 FEET; THENCE NORTH 47°30'50” WEST, ALONG A NON-TANGENT LINE, 107.39 FEET; THENCE NORTH 43°50'45” WEST, 124.02 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 345.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 26°00'18”, AN ARC LENGTH OF 156.59 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 36°43'47” WEST,
155.25 FEET; THENCE NORTH 66°16'23" WEST, ALONG A NON-TANGENT LINE, 125.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 470.00 FEET; THENCE SOUTHWESTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 02°14'36", AN ARC LENGTH OF 18.40 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF SOUTH 22°36'19" WEST, 18.40 FEET; THENCE NORTH 68°30'59" WEST, ALONG A NON-TANGENT LINE, 60.00 FEET TO A POINT ON A NON-TANGENT CURVE CONCAVE SOUTHEASTERLY HAVING A RADIUS OF 530.00 FEET; THENCE NORTHEASTERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL ANGLE OF 04°03'38", AN ARC LENGTH OF 37.56 FEET TO A POINT ON SAID CURVE, SAID ARC BEING SUBTENDED BY A CHORD BEARING AND DISTANCE OF NORTH 23°30'50" EAST, 37.55; THENCE NORTH 64°27'21” WEST, ALONG A NON-TANGENT LINE, 120.00 FEET; THENCE NORTH 79°17'51” WEST, 55.54 FEET TO THE POINT OF BEGINNING.

CONTAINING 56.65 ACRES, MORE OR LESS.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

G:\14-011\14-011-29 - Saratoga Springs\14-011-29005 - CDD\GIS\Maps\PRO\Saratoga Springs.aprx

Feed Mill CDD
Lake Asbury Future Land Use

RR: RURAL RESIDENTIAL
LA RC: LAKE ASBURY RURAL COMMUNITY RRSV: RURAL RESERVE
RF: RURAL FRINGE

LA MPC: LAKE ASBURY MASTER PLANNED COMMUNITY

COM: COMMERCIAL BP: BUSINESS PARK MIX: MIXED USE
LA VC: LAKE ASBURY VILLAGE CENTER LA AC: LAKE ASBURY ACTIVITY CENTER LA IVC: LAKE ASBURY IVC
CO: CONSERVATION
LA GW: LAKE ASBURY GREENWAY MUNI: MUNICIPAL
AG: AGRICULTURE

Clay County Conservation Overlay

0

2,200

4,400

Feet

Date: 4/16/2024

Knowles Rd

Ogl

County Road 315

Ron Rd

Maryland Av

Manhattan Av

Floyd Rd

105

Jacksonville
10

295	295

16

Source: ETM, Clay County

Future Land Use

Feed Mill Community

Development District

LA MPC

LA VC

LA AC
MIX
COM

CO

RF

Pebble Point Dr Medinah Ln

MUNI

Perry Rd

LA RC

BP	RR

AG	RRSV
LA GW LA IVC

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

VISION - EXPERIENCE - RESULTS ENGLAND - THIMS & MILLER, INC.

WETLANDS

WETLANDS

FEED MILL ROAD

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4

CDD BOUNDARY

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

ETM NO.

14-011-29005

DRAWN BY:	DDM

DATE:

8/1/25

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

DRAWING NO.  6

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

ETM NO.	14-011-29005

DRAWN BY:	DDM

DATE:  8/1/25

DRAWING NO.  7

WETLANDS

WETLANDS

FEED MILL ROAD

LIMITS OF PROPOSED

REUSE MAIN (TYP)

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4

CDD BOUNDARY

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

ETM NO.

14-011-29005

DRAWN BY:	DDM

DATE:

8/1/25

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

DRAWING NO.  8

G: \14—011'\,14—011 —29—	Saor toqo Springs\ 1—4 01—1 29005—	CDD"\LondDev\ Des iqn\ PIots"\Exhibits\ Pho se 4 \ CDD Local Exhibits 8x11 _supp 2_P4A1.dwq

1  00

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

I

ETM
ENGLAND-THIMS & MILLER
14775 OId St. Augustine Rd., Jacksonville, FL 32258

EXHIBIT9 - WATER DISTRIBUTION SYSTEM

ETM NO.	14-011-29005	i

DRAWN BY:	DDM

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

DATE: 8/1/25

DRAWING NO.	9

WETLANDS

LIMITS OF

GRAVITY SEWER

MAIN (TYP)

WETLANDS

FEED MILL ROAD

SANITARY SEWER PUMP STATION

CDD BOUNDARY

LIMITS OF PROPOSED FORCE MAIN (TYP)

WETLANDS

PARCEL 1

PARCEL 4

CDD BOUNDARY

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

ETM NO.

14-011-29005

DRAWN BY:	DDM

DATE:

8/1/25

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

DRAWING NO.  10

WETLANDS

WETLANDS

FEED MILL ROAD

LIMITS OF PROPOSED SMF'S (TYP)

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4

CDD BOUNDARY

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

ETM NO.

14-011-29005

DRAWN BY:	DDM

DATE:

8/1/25

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

DRAWING NO.  11

WETLANDS

WETLANDS

FEED MILL ROAD

CDD BOUNDARY

WETLANDS

PARCEL 1

PARCEL 4

CDD BOUNDARY

25' LOT

40' LOT

50' LOT

60' LOT

NOTE: NEIGHBORHOOD MASTER PLAN SUBJECT TO MODIFICATION DURING THE FINAL ENGINEERING AND PERMITTING PROCESSES.

ETM NO.

14-011-29005

DRAWN BY:	DDM

DATE:

8/1/25

14775 Old St. Augustine Rd., Jacksonville, FL 32258 TEL: (904) 642-8990	www.etminc.com
REG - 00002584 LC - 0000316

DRAWING NO.  12

Exhibit B

Second Supplemental Special Assessment Allocation Report

Agenda Item 5A

Exhibit C

Maturities and Coupon of Series 2026 Bonds

Feed MIII Communlcy development Dlstr let
(Clay Coumy, Florida)
Capital Improvement Revenue Bonds, Series 2026
(Parce 14 • Assessment Area One)
Pricing Date: May 13, 2026
Final Pricing Numbers

De ted Date 0e ii e‹y Date La st Matur its
Ar bitrate Yéld
1r ue IMerest Cost ]7KI Het merest Cost ] HiC[
All-In IC
ave age Co upon

03 9A026
03 9N026
0ñ01N0&I
5. 59 203OK

7
11.654

Duration of bsue ]yea rel
Pa r Anno unt Bond Proceeds Iota i merest uet interest
Totc i Debtse‹v e
Max im um in ^uai Oebt serv ioe
Average Ann ual Debt Se rv ice
Ur›derw riter's Fees jper 51Q/0I Avera ge 1akedown

Tqtg I Unde‹w ritgrl D Mount

20000000

PV of 1 bp cha rge

Ave ra ge
Co upo n

Ave rage
Lfe

Par
Value

Bond Com pa neM

Pea

Tgr rh Bond dug 70 5\ Te m Bond due 20 36 Ter m Bond due 7046 Ter m Bond due 20 57

IJ3,C•J0OJ
493,000.00 l,O50,OOOOO 28Q5.OD0OO

lC•J.C'J0
99.319 lOJ.000
%O.000

l.4T6
8OOH
li8il 26M92

48O0
5910a
1,7d.50
4.1J9B5

LI7TB

8-ii i
T|C

8'dt'Oee
Yied

TIC

Par Val ue
* Arc rued Imerest
e Pie mium jD iscou ntl
Unde re'riter's D 6<ou nt
Cost of issuance £xpense
Ot he r Alzio unts

-2.380.9 5
-103JCO60

-2.380.95
-1D3.ICO.CO
-t02.199CA

44 37,\ 70 05
05/2 9/2026

3,I67,6\
0V29 026
559203OB

0MU9N0Z6
5 7V KX

Targm Date
Y›etd

*8

Exhibit D

Sources and Uses of Funds for Series 2026 Bonds

SOURCES AND L/SES OF FUNDS

f-eed k0zI m

z/	I»/x«ent Öisukt

Florida)

( *Y

Kapital lmprovement Revenue Bande 'lezles 2ß26

Priong Oate! klay 13, 2ß26 Fnd Pricing Num/bevs

Par Amrnxzt
Ckiglnal In	Olscount

5,16S.G°0.fXs

5,1	619.ß5

U5e5:

,]73.6i566

Other Fund Oeposks.
0eIx Service Reserve Fund I SOP of MAOs Capitalued Inlerest Fund I Thru 11	027

17 927.50

Delivevy Oate Expenses: Cast of Issuance Uzx:munter’s 0sscounE

207.199.fXs
	1as.3£ I.a

Exhibit E

Annual Debt Service Payment Due on Series 2026 Bonds

Tab 6

This instrument was prepared by and upon recording should be returned to:

Katie S. Buchanan, Esq. KUTAK ROCK LLP
107 West College Avenue Tallahassee, Florida 32301

(This space reserved for Clerk)

FEED MILL COMMUNITY DEVELOPMENT DISTRICT’S NOTICE OF SERIES 2026 SPECIAL ASSESSMENTS

PLEASE TAKE NOTICE that the Board of Supervisors of the Feed Mill Community

Development District (“District”) in accordance with Chapters 170, 190 and 197, Florida

Statutes,

adopted

Resolution

Numbers	2025-05,

2025-06,	2025-08	and

2026-	

(“Resolutions”) providing for, levying and setting forth the terms of non-ad valorem special

assessments on real property within the boundaries of the District that are specially benefitted by

the “Series 2026 Parcel 4 Project” for improvements described in the District’s adopted Second

Supplemental Engineer’s Report to the Capital Improvement Plan, dated February 11, 2026

(“Engineer’s Report”). To finance the costs of the Series 2026 Parcel 4 Project, the District

issued its Feed Mill Community Development District Capital Improvement Revenue Bonds,

Series 2026	(Parcel 4 – Assessment Area One), which is secured by the non-ad valorem

assessments levied by the Resolutions (“Series 2026 Special Assessments”). The legal

description of the lands on which said Series 2026 Special Assessments are imposed is attached

to this Notice as Exhibit A. As provided in the Resolutions, the Series 2026 Special Assessments

do not apply to governmental properties dedicated by plat, including rights-of-way or common

areas. Copies of the Engineer’s Report and the Resolutions may be obtained by contacting the

District at:

Feed Mill Community Development District c/o Rizzetta & Company, Inc.
2806 North Fifth Street, Unit 403

4903-9166-6321.1

St. Augustine, Florida 32084 P: (904) 436-6270
F: (904) 436-6277

The Series 2026 Special Assessments provided for in the Resolutions were legally and

validly determined and levied in accordance with all applicable requirements of Florida law, and

the Series 2026 Special Assessments constitute and will at all relevant times in the future

constitute, legal, valid, and binding first liens on the land against which assessed until paid,

coequal with the lien of all state, county, district, and municipal taxes, and superior in dignity to

all other liens, titles, and claims.

The District is a special purpose form of local government established pursuant to and

governed by Chapter 190, Florida Statutes. Pursuant to Section 190.048, Florida Statutes, you

are  hereby  notified  that:  THE  FEED  MILL  COMMUNITY  DEVELOPMENT

DISTRICT MAY IMPOSE AND LEVY TAXES OR ASSESSMENTS, OR BOTH

TAXES AND ASSESSMENTS, ON THIS PROPERTY. THESE TAXES AND

ASSESSMENTS

PAY

THE

CONSTRUCTION,

OPERATION,

AND

MAINTENANCE COSTS OF CERTAIN PUBLIC FACILITIES AND SERVICES

OF THE DISTRICT AND ARE SET ANNUALLY BY THE GOVERNING

BOARD OF THE DISTRICT. THESE TAXES AND ASSESSMENTS ARE IN

ADDITION TO COUNTY AND OTHER LOCAL GOVERNMENTAL TAXES

AND	ASSESSMENTS	AND	ALL	OTHER	TAXES	AND	ASSESSMENTS

PROVIDED FOR BY LAW.

4903-9166-6321.1

29th

IN WITNESS WHEREOF, this Notice has been executed as of the

day of May,

2026, and recorded in the Official Records of Clay County, Florida.

WITNESSES:

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

Print Name: 	 Address: 		

Name: Daniel McCormick
Title: Chairperson, Board of Supervisors

Print Name: 	 Address: 		

STATE OF FLORIDA COUNTY OF CLAY

The foregoing instrument was acknowledged before me by means of 𝖮 physical presence or 𝖮 online notarization this     day of May, 2026, by Daniel McCormick, as Chairperson of the Board of Supervisors of Feed Mill Community Development District, for and on behalf of the District. He is [ ] personally known to me or [ ] produced 	 as identification.

NOTARY STAMP:

Signature of Notary Public

Printed Name of Notary Public

Exhibit A: Legal Description

4903-9166-6321.1

Exhibit A

4903-9166-6321.1

Tab 7

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

[SERIES 2026]

The undersigned, an Authorized Officer of Feed Mill Community Development District (the "District") hereby submits the following requisition for disbursement under and pursuant to the terms of the Master Trust Indenture between the District and U.S. Bank Trust Company, National Association, Orlando, Florida, as trustee (the "Trustee"), dated as of September 1, 2025, as amended and supplemented by the Second Supplemental Trust Indenture between the District and the Trustee, dated as of May 1, 2026 (collectively, the "Indenture") (all capitalized terms used herein shall have the meaning ascribed to such term in the Indenture):

(A)

Requisition Number: 1
Name of Payee: SRTG DEV OWNER, LLC1

(B)

(C)

Amount Payable: The greater of $4,273,615.66 or the balance of the Series 2026 Construction and Acquisition Account. To date, $9,503,505.422 has been paid to the District via the Construction Funding Agreement and remains an obligation of the District to pay should the Series 2026 Construction and Acquisition Account receive additional funds in the future.

(D)

Purpose for which paid or incurred (refer also to specific contract if amount is due

and payable pursuant to a contract involving progress payments or state costs of issuance, if applicable):

Repayment of funds expended pursuant to Construction Funding Agreement dated February 11, 2025 entered into in connection with the Saratoga Springs Phase 4 Project contract between Feed Mill Community Development District and Vallencourt Construction Co.

(E)

Fund, Account or subaccount from which disbursement is to be made:

Series 2026 Acquisition and Construction Account

The undersigned hereby certifies that:

obligations in the stated amount set forth above have been incurred by the District, that each disbursement set forth above is a proper charge against the Series 2026 Acquisition and Construction Account referenced above, that each disbursement set forth above was incurred in connection with the acquisition and/or construction of the Series 2026 Parcel 4 Project and each represents a Cost of the Series 2026 Phase 4 Project that has not previously been paid out of such Account;

1 Designated as proper recipient of funds by Developer.
2 Represents the total CDD eligible cost of the Phase 4A & 4B Contract inclusive of Change Orders 1-3.

4915-4157-6869.4

OR

this requisition is for costs of issuance payable from the Series 2026 Costs of Issuance Account that has not previously been paid out of such Account.

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

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

Originals or copies of the invoice(s) from the contractor of the improvements acquired or services rendered (or other equivalent supporting documents) with respect to which disbursement is hereby requested are on file with the District.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

By: 		 Authorized Officer

CONSULTING ENGINEER'S APPROVAL FOR NON-COST OF ISSUANCE REQUESTS ONLY

If this requisition is for a disbursement from other than the Series 2026 Costs of Issuance Account, the undersigned Consulting Engineer hereby certifies that this disbursement is for a Cost of the Series 2026 Parcel 4 Project and is consistent with (a) the applicable acquisition or construction contract, (b) the plans and specifications for the portion of the Series 2026 Parcel 4 Project with respect to which such disbursement is being made, and (c) the report of the Consulting Engineer attached as an Exhibit to the Second Supplemental Indenture, as such report shall have been amended or modified on the date hereof.

Consulting Engineer

4915-4157-6869.4

	, 2026

SRTG Dev Owner, LLC Attn: 	
500 Boylston Street, Suite 2010
Boston, MA 02116

Re:

Assignment of Acquisition Agreement Right to Payment of Proceeds
Feed Mill Community Development District (Series 2026 Parcel 4 Project)

Dear 	:

Pursuant to Section 16 of the Acquisition Agreement (Series 2026 Parcel 4 Project) (“Acquisition Agreement”)1, dated May 29, 2026, by and between the Feed Mill Community Development District (“District”) and Saratoga Sagebrook LLC (“Saratoga Sagebrook”), Saratoga Sagebrook hereby assigns to SRTG Dev Owner, LLC (“SRTG Dev Owner”) its right to payment from the Bond proceeds for the Acquisitions acquired by the District pursuant to the Acquisition Agreement. SRTG Dev Owner by signing below, acknowledges and agrees to such assignment. Pursuant to such assignment, Saratoga Sagebrook agrees it shall direct the Trustee to remit any payments to SRTG Dev Owner for requisitions submitted pursuant to and associated with the Acquisition Agreement.

Sincerely,

Saratoga Sagebrook LLC

By: 	 Its: 	

ACKNOWLEDGEMENT OF ASSIGNMENT ACCEPTED BY:

SRTG DEV OWNER, LLC

By: 	 Its: 	

cc:

District Manager District Counsel

1 All capitalized terms not otherwise defined in this letter has the meanings ascribed to them in the Acquisition Agreement.

4915-4157-6869.4

Tab 8

RESOLUTION 2026-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FEED MILL
DEVELOPMENT DISTRICT TO DESIGNATE DATE, TIME AND PLACE OF PUBLIC HEARING AND AUTHORIZATION TO PUBLISH NOTICE OF SUCH HEARING FOR THE PURPOSE OF ADOPTING RULES OF PROCEDURE; AND PROVIDING AN EFFECTIVE DATE

Whereas, the Feed Mill Community Development District (the “District”) is a local unit of
special-purpose government created and existing pursuant to Chapter 190, Florida Statutes; and

Whereas, the Board of Supervisors of the District (the “Board”) is authorized by Section
190.011(5), Florida Statutes, to adopt rules and orders pursuant to Chapter 120, Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
THE FEED MILL COMMUNITY DEVELOPMENT DISTRICT:

Section  1.

A  Public  Hearing  will  be  held  to  adopt  Rules  of  Procedure  on

	, 2026, at 	 	.m., at 1845 Town Center Blvd., Suite 105,
Fleming Island, FL 32003.

Section 2. The District Secretary is directed to publish notice of the hearing in accordance
with Section 120.54, Florida Statutes.

Section 3. This Resolution shall become effective immediately upon its adoption.

Passed and adopted this 	 day of 	, 2026.

ATTEST:

FEED MILL COMMUNITY DEVELOPMENT
DISTRICT

Secretary/Assistant Secretary

Chair/Vice Chair, Board of Supervisors

Tab 9

RESOLUTION 2026-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FEED MILL
COMMUNITY DEVELOPMENT DISTRICT DESIGNATING A DATE, TIME AND LOCATION FOR A LANDOWNERS’ MEETING AND ELECTION; PROVIDING FOR PUBLICATION; ESTABLISHING FORMS FOR THE LANDOWNER ELECTION; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE.

WHEREAS, Feed Mill Community Development District (“District”) is a local unit of special-
purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Clay County, Florida; and

WHEREAS, pursuant to Section 190.006(1), Florida Statutes, the District’s Board of Supervisors
(“Board”) “shall exercise the powers granted to the district pursuant to Chapter 190, Florida Statutes,” and the Board shall consist of five members; and

WHEREAS, the District is statutorily required to hold a meeting of the landowners of the District
for the purpose of electing Board Supervisors for the District on the first Tuesday of November, which shall be noticed pursuant to Section 190.006(2), Florida Statutes.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF
FEED MILL COMMUNITY DEVELOPMENT DISTRICT:

1.

EXISTING BOARD SUPERVISORS; SEATS SUBJECT TO ELECTIONS. The Board is currently

made up of the following individuals:

Seat Number
1
2
3
4
5

Supervisor
Daniel Arnette Daniel McCormick Liam O’Reilly Clayton Crevasse Gerald Agresti

Term Expiration Date
2028
2028
2026
2026
2026

This year, Seat 3, currently held by Liam O’Reilly, Seat 4, currently held by Clayton Crevasse, and
Seat 5, currently held by Gerald Agresti, are subject to election by landowners in November 2026. 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.

2.

LANDOWNER’S ELECTION. In accordance with Section 190.006(2), Florida Statutes, the

meeting of the landowners to elect Board Supervisor(s) of the District shall be held on November 3, 2026,
at 	:	.m., and located at 1845 Town Center Boulevard, Suite 105, Fleming Island, Florida 32003.

3.

PUBLICATION. The District’s Secretary is hereby directed to publish notice of the

landowners’ meeting and election in accordance with the requirements of Section 190.006(2), Florida
Statutes.

4.

FORMS. Pursuant to Section 190.006(2)(b), Florida Statutes, the landowners’ meeting and

election have been announced by the Board at its May 27, 2026 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 District’s Local Records Office / District Manager’s office, located at Rizzetta & Company, Inc., 2806 North Fifth Street, Suite 403, St. Augustine, Florida 32084, Ph: (904) 436-6270.

5.

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this

Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or
any part thereof.

6.

EFFECTIVE DATE. This Resolution shall become effective upon its passage.

PASSED AND ADOPTED THIS 27th DAY OF MAY, 2026.

FEED MILL COMMUNITY DEVELOPMENT
DISTRICT

ATTEST:

CHAIRPERSON / VICE CHAIRPERSON

SECRETARY / ASSISTANT SECRETARY

EXHIBIT A

NOTICE OF LANDOWNERS’ MEETING AND ELECTION AND MEETING OF THE BOARD OF SUPERVISORS OF THE
FEED MILL COMMUNITY DEVELOPMENT DISTRICT

Notice is hereby given to the public and all landowners within Feed Mill Community Development District
(“District”) the location of which is generally described as comprising a parcel or parcels of land containing approximately 1035,55 acres, generally located south and west of County Road 315, north of State Road 16, and east of First Coast Expressway in Clay County, Florida, advising that a meeting of landowners will be held for the purpose of electing three (3) people to the District’s Board of Supervisors (“Board”, and individually, “Supervisor”). Immediately following the landowners’ meeting there will be convened a meeting of the Board 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:

November 3, 2026
	:	.M.
1845 Town Center Boulevard, Suite 105 Fleming Island, Florida 32003

Each landowner may vote in person or by written proxy. Proxy forms may be obtained upon request at the
office of the District Manager, Rizzetta & Company, Inc., 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614, Ph: (904) 436-6270 (“District Manager’s Office”). 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 to be elected to 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 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 the District Manager’s Office. 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 Manager’s Office, at least 48 hours before the hearing. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) / 1-800-955-8770 (Voice), for aid in contacting the District Manager’s Office.

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.

Lesley Gallagher
District Manager

Run Date(s):

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

PUBLISH: ONCE A WEEK FOR 2 CONSECUTIVE WEEKS, THE LAST DAY OF PUBLICATION TO BE NOT FEWER THAN 14

	 & 	, 2026

INSTRUCTIONS RELATING TO LANDOWNERS’ MEETING OF
FEED MILL COMMUNITY DEVELOPMENT DISTRICT FOR THE ELECTION OF SUPERVISORS

DATE OF LANDOWNERS’ MEETING: NOVEMBER 3, 2026

TIME:		:	.M.

LOCATION:

1845 Town Center Boulevard, Suite 105
Fleming Island, Florida 32003

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. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. Moreover, 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

FEED MILL COMMUNITY DEVELOPMENT DISTRICT
CLAY COUNTY, FLORIDA LANDOWNERS’ MEETING – NOVEMBER 3, 2026

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 Feed Mill Community Development District to be held at 1845 Town Center Boulevard, Suite 105, Fleming Island, Florida 32003, on November 3, 2026, at   :   .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 (2019), a fraction of an acre is treated as one (1) acre
entitling the landowner to one vote with respect thereto. For purposes of determining voting interests, platted lots shall be counted individually and rounded up to the nearest whole acre. 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
FEED MILL COMMUNITY DEVELOPMENT DISTRICT CLAY COUNTY, FLORIDA
LANDOWNERS’ MEETING - NOVEMBER 3, 2026

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 Feed Mill 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:

Date: 	

Signed: 	
Printed Name: 	

SEAT #

NAME OF CANDIDATE

NUMBER OF VOTES

3

4

5

Tab 10

This instrument was prepared by and upon filing should be returned to:

(This space reserved for Clerk)

Katie S. Buchanan Kutak Rock LLP
107 West College Avenue Tallahassee, Florida 32301-7707

Clay County Agreement/Contract No.: 2025/2026 -	

INTERLOCAL AGREEMENT REGARDING ENHANCED RIGHTS-OF-WAY IMPROVEMENTS AND MAINTENANCE

THIS INTERLOCAL AGREEMENT REGARDING ENHANCED RIGHTS-OF-
WAY IMPROVEMENTS AND MAINTENANCE	(“Agreement”), made this 	 day of
	, 2026, is entered into by and between Clay County, Florida, a political subdivision under the laws of the State of Florida, whose mailing address is P.O. Box 1366, Green Cove Springs, Florida 32043 (“County”), and the Feed Mill Community Development District, a special purpose unit of local government established under Chapter 190, Florida Statutes, whose mailing address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614 (“District” and, together with the County, the “Parties”).

WITNESSETH:

WHEREAS, the District is authorized to construct, acquire, and maintain infrastructure improvements and services as set forth in Section 190.012(1), Florida Statutes, for which the District may impose, levy and collect non-ad valorem special assessments on land within the boundaries of the District; and

WHEREAS, pursuant to a Master Sign Plan (MSP), approved under Article VII, Section 7-35 of the Sign Regulations of Clay County, the District desires to install certain directional and gateway feature signs, and supporting electrical and utility systems (collectively, “Signage”) located within certain portions of County-owned rights-of-way commonly referred to as Cathedral Oak Parkway as described on Exhibit A attached hereto (“Rights-of-Way”); and

WHEREAS, the District further desires to install certain landscaping, trees, grass, shrubs, and other plantings, as well as irrigation systems, and supporting electrical and utility systems (collectively, “Landscaping”) within the Rights-of-Way; and

WHEREAS, the District currently wishes to enhance the aesthetic appearance of the Rights-of-Way by providing maintenance of the Landscaping and Signage at a level and frequency greater than the County’s standard maintenance schedule; and

WHEREAS, the County has no objection to the District providing enhanced maintenance including, but not limited to, additional mowing and edging during high growth periods, additional plantings above County minimum requirements, tree care and other maintenance activities for the

ACTIVE:39654326.7

Landscaping, and cleaning and repair as needed for the Signage; and

WHEREAS, the County further agrees to allow the District to coordinate the installation and operation of irrigation and irrigation meters (“Irrigation Improvements”) within the County owned Rights-of-Way, provided that the District shall bear all expense of installation, operation and maintenance, and removal if necessary; and

WHEREAS, in order to provide for the maintenance of the Irrigation Improvements, Signage, and Landscaping in the Rights-of-Way (“Maintenance”), the District currently wishes to assume all responsibility and cost of the Maintenance, which the District may discontinue at any time in its discretion; and

WHEREAS, the County and the District desire to establish and set forth in this Agreement the Maintenance responsibilities of the Parties with respect to the Landscaping, Signage, and Irrigation Improvements (“Improvements”); and

WHEREAS, Section 163.01, Florida Statutes, known as the “Florida Interlocal Cooperation Act of 1969”, permits local governmental units to make the most efficient use of their powers by enabling them to cooperate with other localities on a basis of mutual advantage and thereby to provide services and facilities in a manner and pursuant to forms of governmental organization that will accord best with geographic, economic, population and other factors influencing the needs and development of local communities; and

WHEREAS, the County and the District find this Agreement to be necessary, proper, and convenient to the exercise of their powers, duties, and purposes authorized by law; and

WHEREAS, the County and the District desire to exercise jointly their common powers and authority concerning the Improvements and Maintenance thereof; the avoidance of inefficiencies caused by the unnecessary duplication of services and facilities; and the clarification of responsibilities, obligations, duties, powers, and liabilities of each of the governmental bodies; and

WHEREAS, this Agreement shall serve as the “agreement between the district and a governmental entity” required by Section 190.012(1)(g) of the Act.

NOW, THEREFORE, in consideration of the mutual understandings and covenants set forth herein, and other good and valuable consideration, the receipt of sufficiency of which is hereby acknowledged, the County and the District agree as follows:

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

SECTION 2. LANDSCAPING, SIGNAGE, AND IRRIGATION MAINTENANCE
RESPONSIBILITIES. The County permits the District to maintain, or cause to be maintained, the Improvements within the Rights-of-Way at the District’s sole cost and expense and subject to the terms of this Agreement, for so long as the District desires to do so and for so long as the County permits the District to do so. The County agrees that the District may add additional landscape and irrigation enhancements subject to the County’s approval.

ACTIVE:39654326.7

SECTION 3. NO  OBLIGATION  OF  COUNTY  TO  PROVIDE  ENHANCED
MAINTENANCE TO IMPROVEMENTS. The Parties agree that nothing in this Agreement shall be interpreted to require the County to maintain the Improvements within the Rights-of Way during the period of time the District is providing enhanced Maintenance to such area. Nothing herein shall remove the County’s requirement to repair and maintain any sidewalk or multi-use pathways associated with the Rights-of-Way that have not been enhanced by the District.

Should the District desire to discontinue providing enhanced Maintenance of the Improvements within the Rights-of-Way, the District shall provide the County with thirty (30) days advance written notice. The County may require the District to remove the Improvements located within the Rights-of-Way, in whole or in part, and restore the Rights-of-Way to the condition that existed prior to the Improvements. Such removal shall be completed by the District within 30 days of the County’s notice and completed in accordance with County standards. Should the District fail to complete the removal and restoration work, the County may complete the removal and restoration at the District’s sole cost and expense and send an invoice the district equal to the cost incurred by the County for such removal and restoration. Thereafter, such portion of the Rights-of-Way no longer being maintained by the District shall be maintained by the County, but only to County standards. Under no circumstances shall the County be required to perform enhanced Maintenance of the Rights-of-Way, or provide or maintain the Improvements.

SECTION 4. FILING. After approval of this Agreement by the respective governing bodies of the County and the District, and its execution by duly qualified and authorized officers of each of the Parties hereto, in accordance with the requirements of Section 163.01(11), Florida Statutes, the County shall cause this Agreement to be filed with the Clerk of the Circuit Court of Clay County, Florida.

SECTION 5. TERM. The provisions, restrictions, and covenants of this Agreement shall touch and concern the land and shall be a covenant running with and binding the fee interest underlying the Rights-of-Way, whether in existence on the date hereof or constructed in the future, for a period of thirty (30) years from the date this Agreement is made effective. No agreement to extend the term of this Agreement shall be effective unless in a written instrument executed and acknowledged by duly authorized representatives of both the County and the District and filed with the Clerk of the Circuit Court of Clay County, Florida. Notwithstanding any of the above provisions, the County and the District shall each have the right to terminate this Agreement, with or without cause, upon thirty (30) days written notice to each party.

SECTION 6. SOVEREIGN IMMUNITY. Nothing in this Agreement shall be deemed as a waiver of immunity or limits of liability of the District or the County beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other law, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

SECTION 7. GOVERNING LAW. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida. All actions and disputes shall be brought in the proper court and venue, which shall be Clay County, Florida.

ACTIVE:39654326.7

SECTION 8. NO PLEDGE OF CREDIT OR PARTNERSHIP. This Agreement shall
neither be deemed to pledge the credit of the County, or of the District, nor to make the County an agent, co-venturer, partner, or fiduciary of the District, or vice versa.

SECTION 9. NOTICE. All notices, requests, consents and other communications under this Agreement (“Notice” or "Notices") shall be in writing and shall be hand delivered, mailed by First Class Mail, postage prepaid, or sent by overnight delivery service, to the Parties, as follows:

A.

If to the County:

Clay County Manager
P.O. Box 1366
Green Cove Springs, FL 32043

With a Copy to:

Clay County Attorney
P.O. Box 1366
Green Cove Springs, FL 32043

B.

If to the District:

Feed Mill Community Development District c/o Rizzetta & Company, Incorporated
3434 Colwell Avenue, Suite 200
Tampa, Florida 33614 Attn: District Manager

With a Copy to:

Kutak Rock LLP
107 West College Avenue Tallahassee, Florida 32301 Attn: District Counsel

SECTION 10. NON-WAIVER. No consent or waiver, expressed or implied, by either party, to or of any breach or default of the other party, with regard to the performance by said other party of its obligations under this Agreement shall be deemed or construed to constitute consent or waiver to, or of, any other breach or default in the performance of that party, of the same or any other objection of performance incumbent upon that party. Failure on the part of any party to complain of any act or failure to act on the part of the other party in default, irrespective of how long the failure continues, shall not constitute a waiver by that party of its rights and any remedies that exist in this Agreement, at law or in equity.

SECTION 11. CONSTRUCTION.

(a) This Agreement shall not be construed against any party on the basis of it being the drafter of the Agreement. The Parties agree that all herein played an equal part in reciprocity in drafting this Agreement.

(b) Capitalized terms contained herein shall have no more force or effect than uncapitalized terms.

ACTIVE:39654326.7

(c) Captions and section headings in the Agreement are provided for convenience only and shall not be deemed to explain, modify, or aid in the interpretation or construction of meaning of this Agreement.

SECTION 12.

SEVERABILITY.

If any word, phrase, sentence, part, section,

subsection, or other provision of this Agreement, or its application to any person, entity, or

circumstances is specifically held to be unconstitutional, invalid, or unenforceable for any reason by a court of competent jurisdiction, then such word, phrase, sentence, part, section, subsection, or other or the proscribed application thereof, shall be severable, and the remainder of this Agreement and the application of the provisions hereof to the other persons, entities, or circumstances shall not be affected thereby and, to that end, this Agreement shall continue to be enforced to the greatest extent possible consistent with law and the public interest including, but not limited to, the expenditure of public funds for lawful purposes.

SECTION 13.

ENTIRE AGREEMENT, AMENDMENTS.	This  Agreement

constitutes the entire agreement of the Parties with respect to the subject matter hereof. The provisions, restrictions and covenants of this Agreement shall not be modified or amended except in written instrument executed and acknowledged by duly authorized representatives of both the County and the District and filed with the Clerk of Circuit Court of Clay County, Florida.

SECTION 14. ASSIGNMENT. This Agreement may not be assigned, transferred, or conveyed by the District or the County without prior written consent from the other party, except that the District may allow or require other entities to contribute to the cost of its obligations hereunder.

SECTION 15. FORCE MAJUERE. Neither the County nor the District shall be held in non-compliance with this Agreement, nor suffer any enforcement or penalty relating to this Agreement, where such non-compliance or alleged default occurred or was caused by a strike, riot, war, earthquake, flood, tsunami, severe rainstorm, hurricane, or other act of nature, or other event that is reasonably beyond either party’s ability to anticipate or control.

SECTION 16. AUTHORITY TO EXECUTE. Each of the Parties covenants to the other party that it has lawful authority to enter into this Agreement and has authorized the execution of this Agreement by the party’s duly authorized representative.

SECTION 17. EFFECTIVE DATE. This Agreement shall become effective upon filing a copy executed by both Parties with the Clerk of the Circuit Court of Clay County, Florida.

SECTION 18. LIABILITY AND INDEMNIFICATION. Each party agrees that it shall be solely responsible for the negligence, willful misconduct, or wrongful acts of its directors, officers, employees, representatives, agents, and volunteers. Notwithstanding anything stated to the contrary in the Agreement, nothing contained herein is intended to serve as a waiver of either parties’ sovereign immunity protections nor does it extend the parties’ liability beyond the limits established in Section 768.28, Florida Statutes. The provisions of this paragraph shall survive the expiration or termination of this Agreement.

SECTION 19. COUNTERPARTS. This Agreement may be executed in any number of counterparts each of which, when executed and delivered, shall be an original, but all counterparts

ACTIVE:39654326.7

shall together constitute one and the same instrument.

[Signature pages to follow.]

ACTIVE:39654326.7

SIGNATURE PAGE FOR
INTERLOCAL AGREEMENT REGARDING ENHANCED RIGHTS-OF-WAY IMPROVEMENTS AND MAINTENANCE

IN WITNESS WHEREOF, the Parties have caused the Agreement to be made and executed as of the day and date first above written.

CLAY COUNTY, FLORIDA, a
political subdivision of the State of Florida

By: 		 Howard Wanamaker
County Manager

ACTIVE:39654326.7

SIGNATURE PAGE FOR
INTERLOCAL AGREEMENT REGARDING ENHANCED RIGHTS-OF-WAY IMPROVEMENTS AND MAINTENANCE

IN WITNESS WHEREOF, the Parties have caused the Agreement to be made and executed as of the day and date first above written.

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

By: 		 Daniel E. McCormick, Chairman

ATTEST:

By: 	 Secretary/Assistant Secretary

Print Name: 	

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EXHIBIT A

RIGHTS-OF-WAY

That portion of Cathedral Oak Parkway as included in Cathedral Oak Parkway Phase 1 Plat, Plat Book 67, Page 44, of the Official Records of Clay County, Florida, Cathedral Oak Parkway Phase 1 Second Replat, Plat Book 73, Page 6 of the Official Records of Clay County, Florida and a portion of the Willow Springs Phase 2 Tract A Replat, Plat Book 67, Page 21, of the Official Records of Clay County, Florida.

F:\Contract\Interlocal\Feed Mill CDD\Interlocal Agreement re_ Landscaping and Irrigation (Clay County)- Feed Mill(39654326.7) Final
5.13.26.docx

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Tab 11

RESOLUTION 2026-07
[FY 2027 BUDGET APPROVAL RESOLUTION]

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE FEED MILL COMMUNITY
DEVELOPMENT DISTRICT APPROVING PROPOSED BUDGET(S) FOR FY 2027; SETTING A

PUBLIC

HEARING	THEREON	AND

DIRECTING

PUBLICATION;

ADDRESSING

TRANSMITTAL AND POSTING REQUIREMENTS; ADDRESSING SEVERABILITY  AND
EFFECTIVE DATE.

WHEREAS, for the fiscal year beginning October 1, 2026, and ending September 30, 2027 (“FY
2027”), the District Manager prepared and submitted to the Board of Supervisors (“Board”) of the Feed Mill Community Development District (“District”) prior to June 15, 2026, the proposed budget(s) attached hereto as Exhibit A (“Proposed Budget”); and

WHEREAS, the Board now desires to set the required public hearing on the Proposed Budget.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE FEED
MILL COMMUNITY DEVELOPMENT DISTRICT:

1.

PROPOSED BUDGET APPROVED. The Proposed Budget attached hereto as Exhibit A is

hereby approved preliminarily.

2.

SETTING A PUBLIC HEARING; DIRECTING PUBLICATION.	A public hearing on said

approved Proposed Budget is hereby declared and set for the following date, time, and location, and
District staff is directed to provide notice of the same in accordance with Florida law:

DATE:
TIME: LOCATION:

August 26, 2026
9:00 a.m.
1845 Town Center Blvd., Suite 105 Fleming Island, Florida 32003

3.

TRANSMITTAL TO LOCAL GENERAL PURPOSE GOVERNMENT; POSTING OF PROPOSED

BUDGET. The District Manager is hereby directed to (i) submit a copy of the Proposed Budget to the
applicable local general-purpose government(s) at least 60 days prior to its adoption, and (ii) post the approved Proposed Budget on the District’s website in accordance with Chapter 189, Florida Statutes.

4.

SEVERABILITY; EFFECTIVE DATE. The invalidity or unenforceability of any one or more

provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of
this Resolution, or any part thereof. This Resolution shall take effect immediately upon adoption.

PASSED AND ADOPTED THIS 27th DAY OF May, 2026.

ATTEST:

FEED MILL COMMUNITY DEVELOPMENT
DISTRICT

Secretary / Assistant Secretary

Chair/Vice Chair, Board of Supervisors

Exhibit A: Proposed Budget

1

Exhibit A
FY 2027 Proposed Budget

2

Feed Mill
Community Development District
feedmillcdd.org

Proposed Budget for
Fiscal Year 2026/2027

Page

General Fund Budget for Fiscal Year 2026/2027

1

Debt Service Fund Budget for Fiscal Year 2026/2027

5

Assessments Charts for Fiscal Year 2026/2027

6

General Fund Budget Account Category Descriptions

8

Debt Service Fund Budget Account Category Descriptions

15

Table of Contents

1

Comments

To be Updated Prior to Public Hearing

To be Updated Prior to Public Hearing

AA Jan. Tech & AA Farm Director

Based on Series 2025 & 2026 Bonds Issued

Series 2025 & 2026 Bonds also Includes DTS License

Proposed Budget
Feed Mill Community Development District
General Fund Fiscal Year 2026/2027

Actual YTD	Projected Annual	Annual Budget for	Projected Budget	Budget for	Budget Increase Chart of Accounts Classification	through 03/31/26	 Totals 2025/2026		2025/2026		variance for		2026/2027		(Decrease) vs
2025/2026	2025/2026

1

2

ASSESSMENT REVENUES

3

4

Special Assessments

5

Tax Roll*

$	-

$	-

$	-

$	-

$	669,186

$	669,186

6

Off Roll*

$	240,825

$	343,831

$	343,831

$	-

$	96,134

$	(247,697)

7

8

Assessment Revenue Subtotal

$	240,825

$	343,831

$	343,831

$	-

$	765,320

$	421,489

9

10

OTHER REVENUES

11

12

Balance Forward from Prior Year

$	-

$	-

$	-

$	-

$	-

$	-

13

Developer Contributions

$	-

$	-

$	-

$	-

$	647,293

$	647,293

14

Cost Share

$	-

$	-

$	-

$	-

$	52,216

$	52,216

15

16

Other Revenue Subtotal

$	-

$	-

$	-

$	-

$	699,509

$	699,509

17

18

TOTAL REVENUES

$	240,825

$	343,831

$	343,831

$	-

$	1,464,829

$	1,120,998

19

*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.

20

21

EXPENDITURES - ADMINISTRATIVE

22

23

Legislative

24

Supervisor Fees

$	1,400

$	5,000

$	12,000

$	7,000

$	7,200

$	(4,800)

25

Financial & Administrative

26

Accounting Services

$	9,600

$	19,200

$	19,200

$	-

$	19,776

$	576

27

Administrative Services

$	2,100

$	4,200

$	4,200

$	-

$	4,326

$	126

28

Arbitrage Rebate Calculation

$	-

$	500

$	1,000

$	500

$	1,000

$	-

29

Assessment Roll

$	-

$	-

$	5,000

$	5,000

$	5,000

$	-

30

Auditing Services

$	-

$	4,600

$	3,100

$	(1,500)

$	6,100

$	3,000

31

Disclosure Report

$	600

$	6,000

$	6,000

$	-

$	7,000

$	1,000

2

Comments

Based on Series 2025 & Series 2026 Bonds

Estimated

Based on Detail Provided

Combined COP & Clubhouse Electric

Estimated & Also Includes Irrigation

Estimated

Estimated

Estimated Only & To Include Amenity Center and Farm for Portion of FY 26/27 Only

Includes Common Areas, Catherdral Oak & Amenity

Removed for FY26/27

Proposed Budget
Feed Mill Community Development District
General Fund Fiscal Year 2026/2027

Actual YTD	Projected Annual	Annual Budget for	Projected Budget	Budget for	Budget Increase Chart of Accounts Classification	through 03/31/26	 Totals 2025/2026		2025/2026		variance for		2026/2027		(Decrease) vs
2025/2026	2025/2026

32

District Engineer

$	152

$	1,500

$	12,000

$	10,500

$	5,000

$	(7,000)

33

District Management

$	10,500

$	21,000

$	21,000

$	-

$	21,630

$	630

34

Dues, Licenses & Fees

$	190

$	250

$	1,000

$	750

$	1,000

$	-

35

Financial & Revenue Collections

$	1,800

$	3,600

$	3,600

$	-

$	4,908

$	1,308

36

Legal Advertising

$	1,233

$	3,466

$	10,000

$	6,534

$	5,000

$	(5,000)

37

Miscellaneous Fees

$	30

$	30

$	500

$	470

$	500

$	-

38

Public Officials Liability Insurance

$	2,385

$	2,385

$	2,531

$	146

$	2,624

$	93

39

Trustees Fees

$	-

$	10,000

$	10,000

$	-

$	10,000

$	-

40

Website Hosting, Maintenance, Backup

$	2,625

$	3,700

$	3,700

$	-

$	3,820

$	120

41

Legal Counsel

42

District Counsel

$	18,411

$	36,822

$	30,000

$	(6,822)

$	30,000

$	-

43

44

Administrative Subtotal

$	51,026

$	122,253

$	144,831

$	22,578

$	134,884

$	(9,947)

45

46

EXPENDITURES - SHARED FIELD OPERATIONS

47

48

Electric Utility Services

49

Streetlights

$	-

$	-

$	-

$	-

$	2,940

$	2,940

50

Utility Services

$	-

$	2,500

$	10,000

$	7,500

$	15,450

$	5,450

51

Water Sewer Combination Services

52

Utility Services

$	-

$	-

$	-

$	-

$	144,612

$	144,612

53

Garbage/Solid Waste Control Services

54

Garbage - Recreational Facility

$	-

$	-

$	-

$	-

$	3,090

$	3,090

55

Stormwater Control

56

Aquatic Maintenance

$	-

$	5,500

$	10,000

$	4,500

$	23,000

$	13,000

56

Other Physical Environment

57

General Liability & Property Insurance

$	2,915

$	7,500

$	7,500

$	-

$	28,645

$	21,145

58

Irrigation Repairs

$	-

$	-

$	-

$	-

$	5,000

$	5,000

59

Landscape & Irrigation Maintenance

$	-

$	-

$	-

$	-

$	609,500

$	609,500

60

Mulching

$	-

$	-

$	-

$	-

$	50,977

$	50,977

61

Miscellaneous Expense

$	-

$	-

$	5,000

$	5,000

$	(5,000)

3

Comments

General & Admin Farm Operations

Includes Farm

Based on Vesta's Estimate Provided

Includes Facility, Café and Farm

Estimated and to Include Limited Property

Proposed Budget
Feed Mill Community Development District
General Fund Fiscal Year 2026/2027

Actual YTD	Projected Annual	Annual Budget for	Projected Budget	Budget for	Budget Increase Chart of Accounts Classification	through 03/31/26	 Totals 2025/2026		2025/2026		variance for		2026/2027		(Decrease) vs
2025/2026	2025/2026

62

Road and Street Facilities

63

Parks & Recreation

64

Administration

$	-

$	-

$	-

$	-

$	20,192

$	20,192

65

Alarm Monitoring & Maintenance

$	-

$	-

$	-

$	-

$	900

$	900

66

Amenity Facility Janitorial Supplies

$	-

$	-

$	-

$	-

$	5,000

$	5,000

67

Amenity Maintenance & Repair

$	-

$	-

$	-

$	-

$	7,261

$	7,261

68

Amenity Management Contract

$	-

$	-

$	-

$	-

$	333,293

$	333,293

69

Uniforms

$	-

$	-

$	-

$	-

$	1,353

$	1,353

70

Athletic Park/Court/Field Maintenance & Repairs

$	-

$	-

$	-

$	-

$	1,000

$	1,000

71

Facility Supplies - Amenities

$	-

$	-

$	-

$	-

$	15,000

$	15,000

72

Pest Control & Termite Bond

$	-

$	-

$	-

$	-

$	1,500

$	1,500

73

Pool Chemicals & Repairs

$	-

$	-

$	-

$	-

$	12,000

$	12,000

74

Pool Permits

$	-

$	-

$	-

$	-

$	700

$	700

75

Telephone, Internet and Cable

$	-

$	-

$	-

$	-

$	1,700

$	1,700

76

Licenses, Fees & Permits

$	-

$	-

$	-

$	-

$	1,000

$	1,000

77

Special Events

78

Holiday Lighting/Decorations

$	-

$	-

$	-

$	-

$	12,875

$	12,875

79

Special Events

$	-

$	-

$	-

$	-

$	7,957

$	7,957

80

Contingency

81

Miscellaneous Contingency

$	-

$	15,000

$	55,000

$	40,000

$	25,000

$	(30,000)

82

83

Shared Field Operations Subtotal

$	2,915

$	30,500

$	87,500

$	57,000

$	1,329,945

$	1,242,445

84

85

EXPENDITURES - PARCEL 1 FIELD OPERATIONS

86

87

Electric Utility Services

88

Utility Services

$	-

$	2,248

$	5,500

$	3,252

$	-

$	(5,500)

89

Water Sewer Combination Services

90

Utility Services

$	-

$	54,270

$	25,000

$	(29,270)

$	-

$	(25,000)

91

Other Physical Environment

92

Irrigation Repairs

$	-

$	-

$	2,500

$	2,500

$	-

$	(2,500)

93

Landscape & Irrigation Maintenance

$	-

$	202,914

$	50,000

$	(152,914)

$	-

$	(50,000)

4

Comments

Proposed Budget
Feed Mill Community Development District
General Fund Fiscal Year 2026/2027

Actual YTD	Projected Annual	Annual Budget for	Projected Budget	Budget for	Budget Increase Chart of Accounts Classification	through 03/31/26	 Totals 2025/2026		2025/2026		variance for		2026/2027		(Decrease) vs
2025/2026	2025/2026

94

Landscape Replacement Plants, Shrubs, Tree

$	-

$	-

$	4,000

$	4,000

$	-

$	(4,000)

95

96

Parce 1 Field Operations Subtotal

$	-

$	259,432

$	87,000

$	(172,432)

$	-

$	(87,000)

97

98

EXPENDITURES - PARCEL 4 FIELD OPERATIONS

99

100

Electric Utility Services

101

Utility Services

$	-

$	-

$	1,000

$	1,000

$	-

$	(1,000)

102

Water Sewer Combination Services

103

Utility Services

$	-

$	-

$	10,000

$	10,000

$	-

$	(10,000)

104

Other Physical Environment

105

Irrigation Repairs

$	-

$	-

$	1,000

$	1,000

$	-

$	(1,000)

106

Landscape & Irrigation Maintenance

$	-

$	-

$	10,000

$	10,000

$	-

$	(10,000)

107

Landscape Replacement Plants, Shrubs, Trees

$	-

$	-

$	2,500

$	2,500

$	-

$	(2,500)

108

109

Parcel 4 Field Operations Subtotal

$	-

$	-

$	24,500

$	24,500

$	-

$	(24,500)

110

111

Total Field Operations Subtotal

$	2,915

$	289,932

$	199,000

$	(90,932)

$	1,329,945

$	1,130,945

112

113

TOTAL EXPENDITURES

$	53,941

$	412,185

$	343,831

$	(68,354)

$	1,464,829

$	1,120,998

114

115

EXCESS OF REVENUES OVER EXPENDITURES

$	186,884

$	(68,354)

$	-

$	(68,354)

$	-

$	-

116

5

Clay County Collection Costs (2%) and Early Payment Discounts (4%):

6.0%

GROSS ASSESSMENTS

(1) Based on estimated Maximum Annual Debt Service for the Series 2025 Bonds.

$1,178,589.12

Feed Mill Community Development District Debt Service
Fiscal Year 2025/2026

Chart of Accounts Classification	Series 2025	Budget for 2025/2026

REVENUES

Special Assessments

Net Special Assessments (1)

$1,107,873.77

$1,107,873.77

TOTAL REVENUES

$1,107,873.77

$1,107,873.77

EXPENDITURES

Administrative

Debt Service Obligation

$1,107,873.77

$1,107,873.77

Administrative Subtotal

$1,107,873.77

$1,107,873.77

TOTAL EXPENDITURES

$1,107,873.77

$1,107,873.77

EXCESS OF REVENUES OVER EXPENDITURES

$0.00

$0.00

6

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2026/2027 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2026/2027 O&M Budget: Clay County Collection Costs:
Early Payment Discounts:

2025/2026 O&M Budget:
2026/2027 O&M Budget:

$765,320.00
$16,283.40
$32,566.81

$343,831.00
$765,320.00

2%
4%

2026/2027 Total:

Total Difference:

PLATTED - Series 2025 Assessment Area (Phase 1A)

Series 2025 Debt Service(1) Operations/Maintenance

Single Family 40'

Series 2025 Debt Service(1)
Operations/Maintenance

Single Family 50'

Series 2025 Debt Service(1)
Operations/Maintenance

Single Family 60'

PLATTED - Series 2026 Assessment Area (Phase 4A)

Single Family 40'

Operations/Maintenance

Single Family 50'

Operations/Maintenance

Single Family 60'

Operations/Maintenance

UNPLATTED - Series 2025 Assessment Area (Parcel 1)

Series 2025 Debt Service(1)
Operations/Maintenance

Single Family 50'

Series 2025 Debt Service(1)
Operations/Maintenance

Single Family 60'

UNPLATTED - Future Assessment Area (Parcels 1 & 4)

Multifamily 25'

Operations/Maintenance

Single Family 40'

Operations/Maintenance

Single Family 50'

Operations/Maintenance

Single Family 60'

Operations/Maintenance

(1) The District's Series 2025 Bonds were issued in September 2025 and the Series 2025 Assessments will be levied beginning FY 2026-2027.

Total

Total

Total

Total

Total

Total

Total

Total

Total

Total

Total

Total

Proposed Increase / Decrease
$	%

$1,599.99	N/A
$514.89	133.70%

$2,114.88	549.16%

$1,899.98	N/A
$736.68	159.00%

$2,636.66	569.08%

$2,199.98	N/A
$958.47	176.99%

$3,158.45	583.25%

$598.38	198.39%

$598.38	198.39%

$841.04	234.30%

$841.04	234.30%

$1,083.70	260.32%

$1,083.70	260.32%

$1,899.98	N/A
-$3.68	-5.09%

$1,896.30	2623.91%

$2,199.98	N/A
-$3.68	-5.09%

$2,196.30	3039.02%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

-$3.68	-5.09%

Per Unit Annual Assessment Comparison
2025/2026	2026/2027

$0.00	$1,599.99
$385.11	$900.00

$385.11	$2,499.99

$0.00	$1,899.98
$463.32	$1,200.00

$463.32	$3,099.98

$0.00	$2,199.98
$541.53	$1,500.00

$541.53	$3,699.98

$301.62	$900.00

$301.62	$900.00

$358.96	$1,200.00

$358.96	$1,200.00

$416.30	$1,500.00

$416.30	$1,500.00

$0.00	$1,899.98
$72.27	$68.59

$72.27	$1,968.57

$0.00	$2,199.98
$72.27	$68.59

$72.27	$2,268.57

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

$72.27	$68.59

Lot Size	Assessment Breakdown

$421,489.00

$814,170.21

7

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2026/2027 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE

.

LESS: Clay County Collection Costs (2%) and Early Payment Discounts (4%):	($8,609.62)	($40,240.60) Net Revenue to be Collected:

(1) Reflects the number of total lots with Series 2025 debt outstanding.

(2) Annual debt service assessment per lot adopted in connection with the Series 2025 bond issue. Annual assessment includes principal, interest, Clay collection costs and early payment discount costs.

(3) Annual assessment that will appear on November 2026 Clay county property tax bill for platted lots only. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.

$630,436.00

$134,884.00

PER LOT ANNUAL ASSESSMENT

SERIES 2025
O&M	DEBT SERVICE (2)	TOTAL (3)

$900.00	$1,599.99	$2,499.99
$1,200.00	$1,899.98	$3,099.98
$1,500.00	$2,199.98	$3,699.98

$900.00	$0.00	$900.00
$1,200.00	$0.00	$1,200.00
$1,500.00	$0.00	$1,500.00

$68.59	$1,899.98	$1,968.57
$68.59	$2,199.98	$2,268.57

$68.59	$0.00	$68.59
$68.59	$0.00	$68.59
$68.59	$0.00	$68.59
$68.59	$0.00	$68.59

ALLOCATION OF FIELD O&M

TOTAL	% TOTAL		TOTAL	SHARED FIELD EAU	EAU's		EAU's	BUDGET		PER LOT
FACTOR

0.73	98.47	16.61%	$111,408.80	$831.41
1.00	159.00	26.82%	$179,893.97	$1,131.41
1.27	135.37	22.84%	$153,160.68	$1,431.41

0.73	48.50	8.18%	$54,872.99	$831.41
1.00	73.00	12.31%	$82,592.83	$1,131.41
1.27	78.44	13.23%	$88,747.31	$1,431.41

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00
0.00	0.00	0.00%	$0.00	$0.00

592.78	100%	$670,676.60

0.00%	$0.00

100.00%	$670,676.60

ALLOCATION OF ADMINISTRATIVE O&M

TOTAL	% TOTAL		TOTAL		ADMIN EAU	EAU's		EAU's	BUDGET	PER LOT
FACTOR

1.00	134.00	6.41%	$9,191.27	$68.59
1.00	159.00	7.60%	$10,906.06	$68.59
1.00	107.00	5.11%	$7,339.30	$68.59

1.00	66.00	3.15%	$4,527.05	$68.59
1.00	73.00	3.49%	$5,007.19	$68.59
1.00	62.00	2.96%	$4,252.68	$68.59

1.00	125.00	5.98%	$8,573.95	$68.59
1.00	86.00	4.11%	$5,898.88	$68.59

1.00	251.00	12.00%	$17,216.49	$68.59
1.00	234.00	11.19%	$16,050.43	$68.59
1.00	545.00	26.05%	$37,382.42	$68.59
1.00	250.00	11.95%	$17,147.90	$68.59

2092.00	100%	$143,493.62

71.27%	$102,270.07

28.73%	$41,223.55

UNITS ASSESSED

SERIES 2025
L	LOT SIZE	O&M	DEBT SERVICE (1)
U

Series 2025 Assessment Area (Phase 1A)
Single Family 40'	134	134
Single Family 50'	159	159
Single Family 60'	107	107
Series 2026 Assessment Area (Phase 4A)
Single Family 40'	66	0
Single Family 50'	73	0
Single Family 60'	62	0

TOTAL PLATTED

Series 2025 Assessment Area (Parcel 1)
Single Family 50'	125	125
Single Family 60'	86	86
Future Assessment Area (Parcels 1 & 4)
Multifamily 25'	251	0
Single Family 40'	234	0
Single Family 50'	545	0
Single Family 60'	250	0

TOTAL UNPLATTED

TOTAL COMMUNITY

2092	611

1491	211

601	400

TOTAL SHARED FIELD O&M BUDGET	$630,436.00
COLLECTION COSTS @	2%	$13,413.53
EARLY PAYMENT DISCOUNT @	4%	$26,827.06
TOTAL SHARED FIELD ASSESSMENT	$670,676.60

TOTAL ADMIN BUDGET	$134,884.00
COLLECTION COSTS @	2%	$2,869.87
EARLY PAYMENT DISCOUNT	4%	$5,739.74
TOTAL ADMIN ASSESSMENT	$143,493.62

TOTAL O&M BUDGET	$765,320.00
COLLECTION COSTS @	2%	$16,283.40
EARLY PAYMENT DISCOUNT @	4%	$32,566.81
TOTAL O&M ASSESSMENT	$814,170.21

8

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.

Tax Roll: The District levies Non-Ad Valorem Special 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 way is by Off Roll collection.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

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.

9

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.

District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These services include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

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.

Disclosure Report:  The District is required to file quarterly and/or annual disclosure reports, as required in the District’s Continuing Disclosure Agreement(s), 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.

Assessment Roll:	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.

Financial Consulting & Revenue Collections:  Services include investment administration of

the District's bank and consulting services to statutory requirements. not provide investment

trust accounts, if applicable, ongoing banking analyses, and related support prudent cash management in compliance with applicable However, the firm does not serve as a Municipal Advisor and does advice. The firm also provides comprehensive billing, collection, and

reporting of District assessments to fund debt service and operations, including direct billings, funding requests and owner inquiries. This line item also includes the fees incurred for a

Collection Agent to collect the funds for the principal and interest payment for any bond-

related collection needs.

These funds are collected as prescribed in the Trust Indentures.

The Collection Agent also provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services:  Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.

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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.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).

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 & Fees:	The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.

Miscellaneous Fees: The District could incur miscellaneous fees throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.

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.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.

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Security Services and Patrols:	The District may wish to contract with a private company to provide security for the District.

Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Streetlights: The District may have expenditures relating to streetlights throughout the community. These may be restricted to main arterial roads or in some cases to all streetlights within the District’s boundaries.

Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.

Garbage - 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 Utility Services: The District will incur water/sewer utility expenditures related to district operations.

Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance:

The District may incur expenses related

to maintaining the fountains within throughout the Parks & Recreational areas

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland 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.

Mitigation Area Monitoring & Maintenance:

The District may be required to provide for

certain types of monitoring and maintenance activities for various mitigation areas by other

governmental entities.

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Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.

General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs

Property 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 Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.

Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.

Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.

Street/Parking Lot 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 Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates 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.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.

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Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.

Employees - 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.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.

Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.

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.

Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse

Clubhouse Miscellaneous Expense: 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.

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Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees:

Monies collected and allocated for fees that the District could incur

throughout the year, which may not fit into any standard categories.

Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay:	Monies collected and allocated for various projects as they relate to public improvements.

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DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special 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:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would be a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

Tab 12

Prepared by and return to: Frank E. Miller, Esq.
Gunster, Yoakley & Stewart, P.A. 1 Independent Drive, Suite 2300
Jacksonville, FL 32202

DECLARATION OF UNIFIED CONTROL OF MASTER SIGN PLAN

THIS DECLARATION OF UNIFIED CONTROL OF MASTER SIGN PLAN (the
“Declaration”) is made effective 	  , 2026 (the “Effective Date”), by and among SRTG DEV OWNER, LLC, a Delaware limited liability company (“SRTG”), SARATOGA SAGEBROOK LLC, a Delaware limited liability company (“Sagebrook”), PETERS CREEK INVESTMENTS, LLP, a Florida limited liability partnership (“Peters Creek”) and FEED MILL COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes (“CDD”).

RECITALS

A.

SRTG submitted an application for a Master Sign Plan (“MSP”) pursuant to Section

7-35 of the Sign Regulations of Clay County, Florida under Article VII of the Clay County, Florida Development Code;

B.

The property subject to the MSP incorporates property owned by SRTG, Sagebrook

and Peters Creek as depicted and identified on Exhibit “A” attached hereto and incorporated herein (collectively “Property”);

C.

All owners of real property within the MSP boundaries except Clay County which

owns certain rights of way and public roads have joined in and consented to the MSP and have agreed to be bound by the MSP;

D.

The application for the MSP requires that all signs within the MSP be subject to

unified control that runs with the land and includes assignment of responsibility for maintenance and compliance with the MSP and authorizes Clay County to enforce the MSP; and

E.

The CDD has agreed to accept responsibility for the maintenance of the signs in the

MSP and for compliance with the terms of the MSP.

NOW THEREFORE, the parties hereby declare that the Property shall be subject to and bound by the following terms and conditions:

1.

Each of SRTG, Sagebrook and Peters Creek hereby acknowledges receipt of a copy

of the approved MSP, acknowledges that their respective portions of the Property shall be subject to and bound by the MSP and agrees to comply with the MSP.

ACTIVE:39637120.5

2.

By its approval of the MSP, Clay County, Florida acknowledges that rights-of-way

located within the boundaries of the MSP are subject to the MSP for the limited purpose of approved directional and gateway feature signs; provided, however, Clay County, Florida assumes no obligations respecting the installation, operation or maintenance of any signs under the MSP.

3.

The CDD hereby accepts responsibility for the maintenance of the signs under the

MSP and for compliance with the MSP. The CDD shall not be entitled to terminate its obligations under this Declaration until and unless adequate provision for transferring its obligations hereunder is made to and accepted by another governmental unit or corporation or other entity having the

authority and ability to assume the obligations of the CDD to maintain the signs under the MSP and enforce compliance with the MSP. If a termination should occur without adequate provision for maintenance and compliance obligations under the MSP, the MSP shall be subject to revocation by the County upon thirty (30) days’ prior written notice to the CDD.

4.

The parties hereby authorize Clay County, Florida to enforce the terms and

conditions of the MSP.

5.

This Declaration and the foregoing agreements and joinders shall run with title to

the Property and shall be binding upon the parties hereto and their respective successors and assigns.

6.

Within ten (10) business days of approval of the MSP, the CDD shall cause this

Declaration to be recorded in the Public Records of Clay County, Florida.

IN WITNESS WHEREOF, the parties have executed this Declaration as of the Effective

Date.

[Signatures on the following pages]

F:\Contract\development agreement\2026\Saratoga Springs MSP and ROW Maintenance\Declaration of Unified Control of MSP(39637120.3) County Redline 5.13.26.docx

2

ACTIVE:39637120.5

Signed, sealed and delivered in the presence of:

SRTG DEV OWNER, LLC, a Delaware limited liability company

By: 			 Name:	 Title: 		

Name Printed:	 Address: 		

Name Printed:	 Address:	

STATE OF 	)
)SS COUNTY OF 	)

The foregoing instrument was acknowledged before me 		, 2026, by means of  physical presence or  online notarization, by 	, the Authorized Representative of SRTG DEV OWNER, LLC, a Delaware limited liability company, on behalf of the company.

(Print Name 				) Notary Public, State of 		  Commission #		 My Commission Expires:			 Personally Known 	
or Produced I.D. 	 [check one of the above]
Type of Identification Produced

3

ACTIVE:39637120.5

Signed, sealed and delivered in the presence of:

SARATOGA

SAGEBROOK	LLC,

a

Delaware limited liability company

By: 			 Name:	 Title: 		

Name Printed:	 Address: 		

Name Printed:	 Address:	

STATE OF 	)
)SS COUNTY OF 	)

The foregoing instrument was acknowledged before me 		, 2026, by means of  physical presence or  online notarization, by 	, the Authorized Representative of SARATOGA SAGEBROOK LLC, a Delaware limited liability company, on behalf of the company.

(Print Name 				) Notary Public, State of 		  Commission #		 My Commission Expires:			 Personally Known 	
or Produced I.D. 	 [check one of the above]
Type of Identification Produced

4

ACTIVE:39637120.5

Signed, sealed and delivered in the presence of:

PETERS CREEK INVESTMENTS, LLP, a
Florida limited liability partnership

By: 			 Name:	 Title: 		

Name Printed:	 Address: 		

Name Printed:	 Address:	

STATE OF 	)
)SS COUNTY OF 	)

The foregoing instrument was acknowledged before me 		, 2026, by means of  physical presence or  online notarization, by 	, the Authorized Representative of PETERS CREEK INVESTMENTS, LLP, a Florida limited liability partnership, on behalf of the partnership.

(Print Name 				) Notary Public, State of 		  Commission #		 My Commission Expires:			 Personally Known 	
or Produced I.D. 	 [check one of the above]
Type of Identification Produced

5

ACTIVE:39637120.5

FEED MILL COMMUNITY DEVELOPMENT DISTRICT

Attest:

Secretary/Assistant Secretary

Chairman/Vice Chairman, Board of Supervisors

6

ACTIVE:39637120.5

EXHIBIT “A”

Property Legal Description

7

ACTIVE:39637120.5