Saddle Creek Preserve of Polk County
Community Development District

Adopted Budget
FY2023

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Series 2020 Debt Service Fund	

9-10	

Series 2020 Amortization Schedule	

11	

Series 2022 Debt Service Fund	

12-13	

Series 2022 Amortization Schedule	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues						
Assessments - On Roll	$173,600	$173,600	$0	$173,600	$	318,629	
Assessments - Direct	$0	$0	$0	$0	$	89,772	
Developer Contributions	$175,745	$5,175	$	(190)	$4,985	$	-	
Total Revenues	$	349,345	$	178,775	$	(190)	$	178,585	$	408,402	

Expenditures						
Administrative						
Supervisor Fees	$7,200	$4,400	$1,200	$5,600	$7,200	
Engineer Fees	$15,000	$0	$2,500	$2,500	$15,000	
Attorney Fees	$25,000	$11,218	$4,167	$15,385	$25,000	
Annual Audit	$2,900	$4,900	$0	$4,900	$6,000	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Dissemination	$5,000	$5,208	$1,250	$6,458	$7,500	
Arbitrage	$1,000	$0	$450	$450	$900	
Management Fees	$36,050	$30,042	$6,008	$36,050	$37,853	
Trustee Fees	$5,000	$4,041	$0	$4,041	$8,082	
Information Technology	$1,800	$1,500	$300	$1,800	$1,800	
Website Maintenance	$1,200	$1,000	$200	$1,200	$1,200	
Telephone	$250	$0	$0	$0	$0	
Postage & Delivery	$500	$153	$83	$236	$500	
Insurance	$5,500	$5,175	$0	$5,175	$5,822	
Copies	$500	$21	$83	$104	$500	
Legal Advertising	$10,000	$1,246	$1,667	$2,912	$3,300	
Other Current Charges	$2,000	$1,520	$480	$2,000	$2,000	
Office Supplies	$400	$14	$67	$81	$400	
Travel Per Diem	$550	$0	$0	$0	$0	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$	125,025	$	75,614	$	18,455	$	94,068	$	128,232	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Operations & Maintenance
Field Expenditures
Property Insurance	

$5,000	

$0	

$833	

$833	

$10,000	
Field Management	$15,000	$0	$4,375	$4,375	$15,750	
Landscape Maintenance	$40,000	$18,516	$9,266	$27,782	$75,000	
Landscape Replacement	$5,000	$0	$833	$833	$8,500	
Mitigation Monitoring	$25,000	$0	$4,167	$4,167	$25,000	
Lake Maintenance	$10,000	$5,500	$2,200	$7,700	$13,200	
Streetlights	$12,600	$14,564	$3,500	$18,064	$25,000	
Electric	$5,000	$933	$210	$1,143	$5,000	
Water & Sewer	$5,000	$0	$833	$833	$3,000	
Sidewalk & Asphalt Maintenance	$500	$0	$83	$83	$2,500	
Irrigation Repairs	$2,500	$0	$417	$417	$5,000	
General Repairs & Maintenance	$5,000	$0	$833	$833	$7,500	
Contingency	$5,000	$0	$833	$833	$5,000	
Subtotal Field Expenses	$	135,600	$	39,512	$	28,384	$	67,897	$	200,450	

Amenity Expenditures
Amenity - Electric	

$14,400	

$0	

$2,400	

$2,400	

$14,400	
Amenity - Water	$5,000	$0	$833	$833	$5,000	
Playground Lease	$14,000	$0	$0	$0	$0	
Internet	$3,000	$0	$500	$500	$3,000	
Pest Control	$720	$0	$120	$120	$720	
Janitorial Service	$5,400	$0	$900	$900	$5,400	
Security Services	$15,000	$0	$2,500	$2,500	$15,000	
Pool Maintenance	$16,200	$0	$2,700	$2,700	$16,200	
Amenity Repairs & Maintenance	$5,000	$0	$833	$833	$10,000	
Contingency	$5,000	$0	$833	$833	$5,000	
Subtotal Amenity Expenditures	$	83,720	$	-	$	11,620	$	11,620	$	74,720	
						
Total Operations & Maintenance	$	219,320	$	39,512	$	40,004	$	79,517	$	275,170	

Other Expenditures
Capital Reserves	

$5,000	

$0	

$5,000	

$5,000	

$5,000	
Total Other Expenditures	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
						
Total Expenditures	$	349,345	$	115,126	$	63,459	$	178,585	$	408,402	
						
Excess Revenues/(Expenditures)	$	-	$	63,649	$	(63,649)	$	-	$	-	

Net Assessments		$408,402 	
Add: Discounts & Collections 7%		$30,740 	
Gross Assessments		$439,141 	
Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	224.00	224.00	1.00	$318,629	$1,422.45	$1,529.52	
Unplatted	63.11	201.00	0.31	$89,772	$446.63	$480.24	
	287.11	425.00		$408,402			

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, KE Law Group, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is currently contracted with Grau and Associates for these services.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC, to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2020 bonds as well as one other anticipated bond issuance. Governmental Management Services- Central Florida, LLC, provides these services.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 and 2022.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services-Central Florida, LLC, provides these services.

Copies

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance: Field Expenditures Property Insurance
The District’s property insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

The District has contracts with Prince & Sons, Inc. to provide landscaping services throughout the District. These services include mowing, edging, trimming, cleanup, detailing and pruning as well as maintenance of the irrigation systems.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Mitigation Monitoring

To provide scheduled monitoring of mitigation areas located throughout the District

Lake Maintenance

The District has contracted with Sitex Aquatics for the care and maintenance of its ponds which includes shoreline grass, brush and vegetation control.

Streetlights

Represents the cost to maintain streetlights currently in place within the District Boundaries.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting, and other assets.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

Represents estimated cost of leasing agreement for playgrounds to be installed in the community.

Internet

Internet service will be added for use at the Amenity Facilities.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents the estimated costs to provide janitorial services 3 times a week and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenditures:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Saddle Creek Preserve of Polk County
Community Development District Adopted Budget
Debt Service Fund Series 2020

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues							

Special Assessments	
$	313,500	
$	313,500	
$	-	$	313,500	
$	313,500	
Interest Income	$	-	$	317	$	-	$	317	$	-	
Carry Forward Surplus	$	106,148	$	106,148	$	-	$	106,148	$	107,565	
Total Revenues	$	419,648	$	419,965	$	-	$	419,965	$	421,065	

Expenses
Interest- 12/15	

$	101,200	

$	101,200	

$	-	$	101,200	

$	99,825	
Principal - 6/15	$	110,000	$	110,000	$	-	$	110,000	$	115,000	
Interest - 6/15	$	101,200	$	101,200	$	-	$	101,200	$	99,825	
Total Expenditures	$	312,400	$	312,400	$	-	$	312,400	$	314,650	
					
Excess Revenues/(Expenditures)	$	107,248	$	107,565	$	-	$	107,565	$	106,415	

*Carry forward less amount in Reserve funds.					
			Series 2020		
Interest - 12/15/23 	$98,388	
Total 	$98,388	

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 40'	89	$111,161	$1,250	$1,344	
Single Family - 50'	135	$202,339	$1,500	$1,612	
	224	$313,500			

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

12/15/22	$	5,285,000.00	$	-	$	99,825.00	$	311,025.00	
06/15/23	$	5,285,000.00	$	115,000.00	$	99,825.00	$	-	
12/15/23	$	5,170,000.00	$	-	$	98,387.50	$	313,212.50	
06/15/24	$	5,170,000.00	$	115,000.00	$	98,387.50	$	-	
12/15/24	$	5,055,000.00	$	-	$	96,950.00	$	310,337.50	
06/15/25	$	5,055,000.00	$	120,000.00	$	96,950.00	$	-	
12/15/25	$	4,935,000.00	$	-	$	95,450.00	$	312,400.00	
06/15/26	$	4,935,000.00	$	120,000.00	$	95,450.00	$	-	
12/15/26	$	4,815,000.00	$	-	$	93,650.00	$	309,100.00	
06/15/27	$	4,815,000.00	$	125,000.00	$	93,650.00	$	-	
12/15/27	$	4,690,000.00	$	-	$	91,775.00	$	310,425.00	
06/15/28	$	4,690,000.00	$	130,000.00	$	91,775.00	$	-	
12/15/28	$	4,560,000.00	$	-	$	89,825.00	$	311,600.00	
06/15/29	$	4,560,000.00	$	135,000.00	$	89,825.00	$	-	
12/15/29	$	4,425,000.00	$	-	$	87,800.00	$	312,625.00	
06/15/30	$	4,425,000.00	$	140,000.00	$	87,800.00	$	-	
12/15/30	$	4,285,000.00	$	-	$	85,700.00	$	313,500.00	
06/15/31	$	4,285,000.00	$	145,000.00	$	85,700.00	$	-	
12/15/31	$	4,140,000.00	$	-	$	82,800.00	$	313,500.00	
06/15/32	$	4,140,000.00	$	150,000.00	$	82,800.00	$	-	
12/15/32	$	3,990,000.00	$	-	$	79,800.00	$	312,600.00	
06/15/33	$	3,990,000.00	$	155,000.00	$	79,800.00	$	-	
12/15/33	$	3,835,000.00	$	-	$	76,700.00	$	311,500.00	
06/15/34	$	3,835,000.00	$	160,000.00	$	76,700.00	$	-	
12/15/34	$	3,675,000.00	$	-	$	73,500.00	$	310,200.00	
06/15/35	$	3,675,000.00	$	165,000.00	$	73,500.00	$	-	
12/15/35	$	3,510,000.00	$	-	$	70,200.00	$	308,700.00	
06/15/36	$	3,510,000.00	$	175,000.00	$	70,200.00	$	-	
12/15/36	$	3,335,000.00	$	-	$	66,700.00	$	311,900.00	
06/15/37	$	3,335,000.00	$	180,000.00	$	66,700.00	$	-	
12/15/37	$	3,155,000.00	$	-	$	63,100.00	$	309,800.00	
06/15/38	$	3,155,000.00	$	190,000.00	$	63,100.00	$	-	
12/15/38	$	2,965,000.00	$	-	$	59,300.00	$	312,400.00	
06/15/39	$	2,965,000.00	$	195,000.00	$	59,300.00	$	-	
12/15/39	$	2,770,000.00	$	-	$	55,400.00	$	309,700.00	
06/15/40	$	2,770,000.00	$	205,000.00	$	55,400.00	$	-	
12/15/40	$	2,565,000.00	$	-	$	51,300.00	$	311,700.00	
06/15/41	$	2,565,000.00	$	215,000.00	$	51,300.00	$	-	
12/15/41	$	2,350,000.00	$	-	$	47,000.00	$	313,300.00	
06/15/42	$	2,350,000.00	$	220,000.00	$	47,000.00	$	-	
12/15/42	$	2,130,000.00	$	-	$	42,600.00	$	309,600.00	
06/15/43	$	2,130,000.00	$	230,000.00	$	42,600.00	$	-	
12/15/43	$	1,900,000.00	$	-	$	38,000.00	$	310,600.00	
06/15/44	$	1,900,000.00	$	240,000.00	$	38,000.00	$	-	

DATE		BALANCE	PRINCIPAL	INTEREST	TOTAL	

12/15/44	
$	
1,660,000.00	
$	-	
$	33,200.00	
$	311,200.00	
06/15/45	$	1,660,000.00	$	250,000.00	$	33,200.00	$	-	
12/15/45	$	1,410,000.00	$	-	$	28,200.00	$	311,400.00	
06/15/46	$	1,410,000.00	$	260,000.00	$	28,200.00	$	-	
12/15/46	$	1,150,000.00	$	-	$	23,000.00	$	311,200.00	
06/15/47	$	1,150,000.00	$	270,000.00	$	23,000.00	$	-	
12/15/47	$	880,000.00	$	-	$	17,600.00	$	310,600.00	
06/15/48	$	880,000.00	$	280,000.00	$	17,600.00	$	-	
12/15/48	$	600,000.00	$	-	$	12,000.00	$	309,600.00	
06/12/49	$	600,000.00	$	295,000.00	$	12,000.00	$	-	
12/15/49	$	305,000.00	$	-	$	6,100.00	$	313,100.00	
06/15/50	$	305,000.00	$	305,000.00	$	6,100.00	$	311,100.00	
			$	5,500,000.00	$	3,875,933.96	$	9,375,933.96	

Saddle Creek Preserve of Polk County
Community Development District Adopted Budget
Debt Service Fund Series 2022

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues						

Special Assessments	
$	
-	
$	
188,914	
$	
94,457	
$	
283,371	
$	
287,653	
Interest Income	$	-	$	191	$	-	$	191	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	220,705	
Total Revenues	$	-	$	189,105	$	94,457	$	283,562	$	508,358	

Expenses
Interest- 12/15	$	-	$	-	

$	-	

$	-	

$	90,514	
Principal - 12/15	$	-	$	-	$	-	$	-	$	130,000	
Interest - 6/15	$	-	$	62,857	$	-	$	62,857	$	88,808	
Total Expenditures	$	-	$	62,857	$	-	$	62,857	$	309,321	

Other Financing Sources/(Uses)

Bond Proceeds

$	-	$

143,826	$

-	$	143,826	$	-

Total Other Financing Sources/(Uses)	$	-	$	143,826	$	-	$	143,826	$	-

Excess Revenues/(Expenditures)	$	-	$	270,074	$	94,457	$	364,531	$	199,036

*Carry forward less amount in Reserve funds.

Series 2022
Principal - 12/15/23	$110,000 Interest - 12/15/23 		$88,808	
Total 	$198,808	

Product	
Assessable Units	Maximum Annual Debt Service	
Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 40'	55	$	68,727	$1,250	$1,344	
Single Family - 50'	146	$	218,926	$1,500	$1,612	
	201	$	287,653			

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

12/15/22	$	5,155,000.00	$	130	
06/15/23	$	5,025,000.00	$	
12/15/23	$	5,025,000.00	$	110	
06/15/24	$	4,915,000.00	$	
12/15/24	$	4,915,000.00	$	110	
06/15/25	$	4,805,000.00	$	
12/15/25	$	4,805,000.00	$	115	
06/15/26	$	4,690,000.00	$	
12/15/26	$	4,690,000.00	$	115	
06/15/27	$	4,455,000.00	$	
12/15/27	$	4,455,000.00	$	120	
06/15/28	$	4,455,000.00	$	
12/15/28	$	4,455,000.00	$	125	
06/15/29	$	4,330,000.00	$	
12/15/29	$	4,330,000.00	$	125	
06/15/30	$	4,205,000.00	$	
12/15/30	$	4,205,000.00	$	130	
06/15/31	$	4,075,000.00	$	
12/15/31	$	4,075,000.00	$	135	
06/15/32	$	3,800,000.00	$	
12/15/32	$	3,800,000.00	$	140	
06/15/33	$	3,800,000.00	$	
12/15/33	$	3,800,000.00	$	145	
06/15/34	$	3,655,000.00	$	
12/15/34	$	3,800,000.00	$	150	
06/15/35	$	3,800,000.00	$	
12/15/35	$	3,655,000.00	$	155	
06/15/36	$	3,655,000.00	$	
12/15/36	$	3,505,000.00	$	160	
06/15/37	$	3,505,000.00	$	
12/15/37	$	3,350,000.00	$	165	
06/15/38	$	3,350,000.00	$	
12/15/38	$	3,190,000.00	$	170	
06/15/39	$	3,190,000.00	$	
12/15/39	$	3,025,000.00	$	175	
06/15/40	$	3,025,000.00	$	
12/15/40	$	2,855,000.00	$	180	
06/15/41	$	2,855,000.00	$	
12/15/41	$	2,680,000.00	$	185	
06/15/42	$	2,315,000.00	$	
12/15/42	$	2,315,000.00	$	190	
06/15/43	$	2,125,000.00	$	
12/15/43	$	2,125,000.00	$	200	
06/15/44	$	1,925,000.00	$	
12/15/44	$	1,925,000.00	$	210	
06/15/45	$	1,715,000.00	$	
12/15/45	$	1,715,000.00	$	215	
06/15/46	$	1,500,000.00	$	
12/15/46	$	1,500,000.00	$	225	
06/15/47	$	1,275,000.00	$	
12/15/47	$	1,275,000.00	$	235	

$	90,513.75	$	-	
$	88,807.50	$	309,321.25	
$	88,807.50	$	-	
$	87,363.75	$	286,171.25	
$	87,363.75	$	-	
$	85,920.00	$	283,283.75	
$	85,920.00	$	-	
$	84,410.63	$	285,330.63	
$	84,410.63	$	-	
$	82,901.25	$	282,311.88	
$	82,901.25	$	-	
$	81,326.25	$	284,227.50	
$	81,326.25	$	-	
$	79,388.75	$	285,715.00	
$	79,388.75	$	-	
$	77,451.25	$	281,840.00	
$	77,451.25	$	-	
$	75,436.25	$	282,887.50	
$	75,436.25	$	-	
$	73,343.75	$	283,780.00	
$	73,343.75	$	-	
$	71,173.75	$	284,517.50	
$	71,173.75	$	-	
$	68,745.00	$	284,918.75	
$	68,745.00	$	-	
$	66,232.50	$	284,977.50	
$	66,232.50	$	-	
$	63,636.25	$	284,868.75	
$	63,636.25	$	-	
$	60,956.25	$	284,592.50	
$	60,956.25	$	-	
$	58,192.50	$	284,148.75	
$	58,192.50	$	-	
$	55,345.00	$	283,537.50	
$	55,345.00	$	-	
$	52,413.75	$	282,758.75	
$	52,413.75	$	-	
$	49,398.75	$	281,812.50	
$	49,398.75	$	-	
$	46,300.00	$	280,698.75	
$	46,300.00	$	-	
$	42,500.00	$	278,800.00	
$	42,500.00	$	-	
$	38,500.00	$	281,000.00	
$	38,500.00	$	-	
$	34,300.00	$	282,800.00	
$	34,300.00	$	-	
$	30,000.00	$	279,300.00	
$	30,000.00	$	-	
$	25,500.00	$	280,500.00	
$	25,500.00	$	-	

,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

12

DATE		BALANCE	PRINCIPAL	INTEREST	TOTAL	

06/15/48	
$	
1,040,000.00	
$	-	
$	20,800.00	
$	281,300.00	
12/15/48	$	1,040,000.00	$	245,000.00	$	20,800.00	$	-	
06/15/49	$	795,000.00	$	-	$	15,900.00	$	281,700.00	
12/15/49	$	795,000.00	$	255,000.00	$	15,900.00	$	-	
06/15/50	$	540,000.00	$	-	$	10,800.00	$	281,700.00	
12/15/50	$	540,000.00	$	265,000.00	$	10,800.00	$	-	
06/15/51	$	275,000.00	$	-	$	5,500.00	$	281,300.00	
12/15/51	$	275,000.00	$	275,000.00	$	5,500.00	$	280,500.00	
			$	5,155,000.00	$	3,418,456.77	$	8,573,456.77	

13