HomeMy WebLinkAboutOrd 1201-2026-05 2026 Amended and Restated Service and Assessment Plan for Sherley Tract PID 2
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 1
Sherley Tract Public
Improvement District No. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT
PLAN
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 2
TABLE OF CONTENTS
Table of Contents ............................................................................................................................ 2
Introduction .................................................................................................................................... 4
Section I: Definitions ....................................................................................................................... 7
Section II: The District ................................................................................................................... 19
Section III: Authorized Improvements .......................................................................................... 19
Section IV: Service Plan ................................................................................................................. 25
Section V: Assessment Plan .......................................................................................................... 25
Section VI: Terms of the Assessments .......................................................................................... 33
Section VII: Assessment Roll ......................................................................................................... 40
Section VIII: Additional Provisions ................................................................................................ 40
Section IX: Additional Information................................................................................................ 42
Exhibits .......................................................................................................................................... 47
Appendices .................................................................................................................................... 48
Exhibit A-1 – Map of the District ................................................................................................... 49
Exhibit A-2 – Map of Improvement Area #1 and the Major Improvement Area ......................... 50
Exhibit A-3 – Map of Improvement Area #2, Improvement Area #3, and Improvement Area #4 51
Exhibit A-4 – Lot Type Classification Map - Improvement Area #2, Improvement Area #3, and
Improvement Area #4 ................................................................................................................... 52
Exhibit B – Project Costs ............................................................................................................... 53
Exhibit C – Service Plan ................................................................................................................. 54
Exhibit D – Sources and Uses of Funds ......................................................................................... 56
Exhibit E – Maximum Assessment and Tax Rate Equivalent ........................................................ 57
Exhibit F-1 – Improvement Area #1 Assessment Roll ................................................................... 58
Exhibit F-2 – Improvement Area #1 Annual Installments ............................................................. 72
Exhibit G-1 – Improvement Area #2 Assessment Roll .................................................................. 73
Exhibit G-2 – Improvement Area #2 Assessment Roll By Block and Lot ....................................... 74
Exhibit G-3 – Improvement Area #2 Annual Installment .............................................................. 77
Exhibit H-1 – Improvement Area #3 Assessment Roll .................................................................. 78
Exhibit H-2 – Improvement Area #3 Assessment Roll By Block and Lot ....................................... 79
Exhibit H-3 – Improvement Area #3 Annual Installment .............................................................. 82
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 3
Exhibit I-1 – Improvement Area #4 Assessment Roll .................................................................... 83
Exhibit I-2 – Improvement Area #4 Annual Installment ............................................................... 84
Exhibit J – Major Improvement Area Assessment Roll ................................................................. 85
Exhibit K-1 – Maps of Major Improvements ................................................................................. 86
Exhibit K-2 – Maps of Improvement Area #1 Improvements ....................................................... 90
Exhibit K-3 – Maps of Improvement Area #2 Improvements ....................................................... 94
Exhibit K-4 – Maps of Improvement Area #3 Improvements ....................................................... 98
Exhibit K-5 – Maps of Improvement Area #4 Improvements ..................................................... 102
Exhibit L – TIRZ No. 3 Annual Credit Amount by Lot Type .......................................................... 106
Exhibit M – Form of Notice of Assessment Termination ............................................................ 107
Exhibit N-1 – Debt Service Schedule for the Improvement Area #1 Initial Bonds ..................... 110
Exhibit N-2 – Debt Service Schedule for Improvement Area #1 Additional Bonds .................... 111
Exhibit N-3 – Debt Service Schedule for Improvement Area #2-4 Bonds .................................. 112
Exhibit O-1 – District Legal Description ...................................................................................... 113
Exhibit O-2 – Improvement Area #1 Legal Description .............................................................. 118
Exhibit O-3 – Improvement Area #2 Legal Description .............................................................. 125
Exhibit O-4 – Improvement Area #3 Legal Description .............................................................. 129
Exhibit O-5 – Improvement Area #4 Legal Description .............................................................. 131
Exhibit O-6 – Major Improvement Area Legal Description ......................................................... 133
Appendix A – Engineer’s Report ................................................................................................. 145
Appendix B – Buyer Disclosures .................................................................................................. 165
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 4
INTRODUCTION
Capitalized terms used in this 2026 Amended and Restated Service and Assessment Plan shall
have the meanings given to them in Section I unless otherwise defined in this 2026 Amended and
Restated Service and Assessment Plan or unless the context in which a term is used clearly
requires a different meaning. Unless otherwise defined, a reference to a “Section,” an “Exhibit,”
or an “Appendix” shall be a reference to a Section of this 2026 Amended and Restated Service
and Assessment Plan or an Exhibit or Appendix attached to and made a part of this 2026
Amended and Restated Service and Assessment Plan for all purposes.
On December 8, 2020, the City Council passed and approved Resolution No. 2020-12-839
authorizing the establishment of Sherley Tract Public Improvement District No. 2 in accordance
with Chapter 372, Texas Local Government Code, which authorization was effective upon
publication as required by the PID Act. The purpose of the District is to finance the Actual Costs
of Authorized Improvements that confer a special benefit on approximately 289.751 acres
located within the corporate limits of the City, as described by the legal description on Exhibit O-
1 and depicted on Exhibit A-1.
On July 27, 2021, the City Council approved Ordinance No. 925-2021 which approved the 2021
Service and Assessment Plan for the District and levied Assessments to finance the Authorized
Improvements to be constructed for the benefit of the Assessed Property within the District. The
2021 Service and Assessment Plan also identified the Authorized Improvements to be provided
by the District, the costs of the Authorized Improvements, the indebtedness to be incurred for
such Authorized Improvements, and the manner of assessing the property in the District for the
costs of such Authorized Improvements based on the benefit provided to the Assessed Property.
On July 26, 2022, the City Council approved the 2022 Annual Service Plan Update for the District
by Ordinance No. 986-2022, which updated the Improvement Area #1 Assessment Roll and Major
Improvement Area Assessment Roll for 2022.
On July 11, 2023, the City Council approved the 2023 Annual Service Plan Update for the District
by Ordinance No. 1059-2023-07, which updated the Improvement Area #1 Assessment Roll and
Major Improvement Area Assessment Roll for 2023.
On August 27, 2024, the City Council approved the 2024 Annual Service Plan Update for the
District by Ordinance No. 1115-2024-08, which updated the Improvement Area #1 Assessment
Roll and the Major Improvement Area Assessment Roll for 2024.
On August 26, 2025, the City Council approved the 2025 Amended and Restated Service and
Assessment Plan for the District by adopting Ordinance No. 1163-2025-08, which served to
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 5
amend and restate the 2021 Service and Assessment Plan in its entirety for the purposes of (1)
issuing the Improvement Area #1 Additional Bonds to satisfy the Improvement Area #1
Reimbursement Obligation and (2) updating the Assessment Rolls.
This 2026 Amended and Restated Service and Assessment Plan serves to amend and restate the
2025 Amended and Restated Service and Assessment Plan, including all previously approved
Annual Service Plan Updates, in its entirety for the purposes of (1) updating the Improvement
Area #1 Assessment Roll; (2) updating the Major Improvement Area Assessment Roll; (3)
identifying the costs of the (i) Improvement Area #2 Projects, (ii) Improvement Area #3 Projects,
and (iii) Improvement Area #4 Projects; (4) identifying the indebtedness to be incurred for the
Improvement Area #2 Projects, and the manner of assessing the Improvement Area #2 Assessed
Property for the costs of the Improvement Area #2 Projects; (5) identifying the indebtedness to
be incurred for the Improvement Area #3 Projects, and the manner of assessing the Improvement
Area #3 Assessed Property for the costs of the Improvement Area #3 Projects; (6) identifying the
indebtedness to be incurred for the Improvement Area #4 Projects, and the manner of assessing
the Improvement Area #4 Assessed Property for the costs of the Improvement Area #4 Projects;
(7) levying the Improvement Area #2 Assessment for the Improvement Area #2 Assessed
Property; (8) levying the Improvement Area #3 Assessment for the Improvement Area #3
Assessed Property; (9) levying the Improvement Area #4 Assessment for the Improvement Area
#4 Assessed Property; and (10) approving the (i) Improvement Area #2 Assessment Roll, (ii)
Improvement Area #3 Assessment Roll, and (iii) Improvement Area #4 Assessment Roll. This 2026
Amended and Restated Service and Assessment Plan serves as the Annual Service Plan Update
for 2026.
The PID Act requires a service plan covering a period of at least five years and defining the annual
indebtedness and projected cost of the Authorized Improvements and including a copy of the
notice form required by Section 5.014 of the Texas Property Code, as amended. The Service Plan
is contained in Section IV and the notice form is attached as Appendix B.
The PID Act requires that the Service Plan include an Assessment Plan that assesses the Actual
Costs of the Authorized Improvements against the Assessed Property within the District based
on the special benefits conferred on such property by the Authorized Improvements. The
Assessment Plan is contained in Section V.
The PID Act requires an Assessment Roll that states the Assessment against each Parcel
determined by the method chosen by the City Council. The Assessment against each Parcel of
Assessed Property must be sufficient to pay the share of the Actual Costs of the Authorized
Improvements apportioned to such Parcel and cannot exceed the special benefit conferred on
the Parcel by such Authorized Improvements. The Improvement Area #1 Assessment Roll is
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 6
attached as Exhibit F-1. The Improvement Area #2 Assessment Roll is attached as Exhibit G-1.
The Improvement Area #2 Assessment Roll by block and lot is attached as Exhibit G-2 for
illustrative purposes only. The Improvement Area #3 Assessment Roll is attached as Exhibit H-1.
The Improvement Area #3 Assessment Roll by block and lot is attached as Exhibit H-2 for
illustrative purposes only. The Improvement Area #4 Assessment Roll is attached as Exhibit I-1.
The Major Improvement Area Assessment Roll is attached as Exhibit J
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SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 7
SECTION I: DEFINITIONS
“2021 Assessment Ordinance” means the Assessment Ordinance No. 925-2021 approved and
adopted by the City Council on July 27, 2021, which levied the Assessments against Parcels of
Assessed Property within Improvement Area #1 and the Major Improvement Area and approved
the 2021 Service and Assessment Plan.
“2021 Service and Assessment Plan” means the Sherley Tract Public Improvement District No. 2
Service and Assessment Plan as approved on July 27, 2021, by the 2021 Assessment Ordinance,
which replaced in its entirety the 2025 Amended and Restated Service and Assessment Plan.
“2025 Amended and Restated Service and Assessment Plan” means the Sherley Tract Public
Improvement District No. 2 2025 Amended and Restated Service and Assessment Plan as
approved on August 26, 2025, by Ordinance No. 1163-2025-08, which replaced in its entirety the
2021 Service and Assessment Plan.
“2026 Assessment Ordinance” means an Assessment Ordinance approved and adopted by the
City Council on May 26, 2026, which levied the (i) Improvement Area #2 Assessment against the
Improvement Area #2 Assessed Property, (ii) Improvement Area #3 Assessment against the
Improvement Area #3 Assessed Property, and (iii) Improvement Area #4 Assessment against the
Improvement Area #4 Assessed Property, and approved this 2026 Amended and Restated Service
and Assessment Plan.
“2026 Amended and Restated Service and Assessment Plan” means this Sherley Tract Public
Improvement District No. 2 2026 Amended and Restated Service and Assessment Plan as
approved on May 26, 2026, by the 2026 Assessment Ordinance, as updated, amended, or
supplemented from time to time, which is to replace in its entirety the 2025 Amended and
Restated Service and Assessment Plan and any and all prior Annual Service Plan Updates.
“Actual Costs” mean with respect to Authorized Improvements, the actual costs paid or incurred
by or on behalf of the Owner, including: (1) the costs incurred by or on behalf of the Owner (either
directly or through affiliates) for the design, planning, financing, administration/management,
acquisition, installation, construction and/or implementation of such Authorized Improvements;
(2) the fees paid for obtaining permits, licenses, or other governmental approvals for such
Authorized Improvements; (3) the costs incurred by or on behalf of the Owner for external
professional costs, such as engineering, geotechnical, surveying, land planning, architectural
landscapers, appraisals, legal, accounting, and similar professional services; (4) all labor, bonds,
and materials, including equipment and fixtures, by contractors, builders, and materialmen in
connection with the acquisition, construction, or implementation of the Authorized
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 8
Improvements; (5) all related permitting and public approval expenses, architectural,
engineering, and consulting fees, and governmental fees and charges.
“Additional Interest” means the amount collected by application of the Additional Interest Rate.
“Additional Interest Rate” means the up to 0.50% additional interest rate that may be charged
on Assessments securing PID Bonds pursuant to Section 372.018 of the PID Act.
“Administrator” means the City or independent firm designated by the City who shall have the
responsibilities provided in this 2026 Amended and Restated Service and Assessment Plan, any
Indenture, or any other agreement or document approved by the City related to the duties and
responsibilities of the administration of the District. The initial Administrator is P3Works, LLC.
“Annual Collection Costs” mean the actual or budgeted costs and expenses related to the
operation of the District, including, but not limited to, costs and expenses for: (1) the
Administrator; (2) City staff; (3) legal counsel, engineers, accountants, financial advisors, and
other consultants engaged by the City; (4) calculating, collecting, and maintaining records with
respect to Assessments and Annual Installments; (5) preparing and maintaining records with
respect to Assessment Rolls and Annual Service Plan Updates; (6) paying and redeeming PID
Bonds; (7) investing or depositing Assessments and Annual Installments; (8) complying with this
2026 Amended and Restated Service and Assessment Plan and the PID Act with respect to the
PID Bonds, including the City’s continuing disclosure requirements; and (9) the paying
agent/registrar and Trustee in connection with PID Bonds, including their respective legal
counsel. Annual Collection Costs collected but not expended in any year shall be carried forward
and applied to reduce Annual Collection Costs for subsequent years.
“Annual Installment” means the annual installment payment of an Assessment as calculated by
the Administrator and approved by the City Council, that includes: (1) principal; (2) interest; (3)
Annual Collection Costs; and (4) Additional Interest, if applicable.
“Annual Service Plan Update” means an update to this 2026 Amended and Restated Service and
Assessment Plan prepared no less frequently than annually by the Administrator and approved
by the City Council.
“Assessed Property” means any Parcel within the District against which an Assessment is levied.
“Assessment” means an assessment levied against a Parcel of Assessed Property within the
District and imposed pursuant to an Assessment Ordinance and the provisions herein, as shown
on an Assessment Roll, subject to reallocation upon the subdivision of such Parcel of Assessed
Property or reduction according to the provisions herein and in the PID Act.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 9
“Assessment Ordinance” means an ordinance adopted by the City Council in accordance with
the PID Act that levies an Assessment on Assessed Property within the District, as shown on any
Assessment Roll.
“Assessment Plan” means the methodology employed to assess the Actual Costs of the
Authorized Improvements against the Assessed Property within the District based on the special
benefits conferred on such property by the Authorized Improvements, more specifically set forth
and described in Section V.
“Assessment Roll” means any assessment roll for the Assessed Property within the District,
including the Improvement Area #1 Assessment Roll, the Improvement Area #2 Assessment Roll,
the Improvement Area #3 Assessment Roll, the Improvement Area #4 Assessment Roll, and the
Major Improvement Area Assessment Roll, as updated, modified or amended from time to time
in accordance with the procedures set forth herein and in the PID Act, including updates prepared
in connection with the issuance of PID Bonds or any Annual Service Plan Update.
“Authorized Improvements” means (1) the improvements authorized by Section 372.003 of the
PID Act, as depicted on Exhibit K-1, Exhibit K-2, Exhibit K-3, Exhibit K-4 and Exhibit K-5 and
described in Section III, (2) Bond Issuance Costs, and (3) District Formation Costs.
“Bond Issuance Costs” means the costs associated with issuing PID Bonds, including but not
limited to attorney fees, financial advisory fees, consultant fees, initial trustee fee, appraisal fees,
printing costs, publication costs, capitalized interest, reserve fund requirements, underwriter’s
discount, underwriter’s counsel, fees charged by the Texas Attorney General, and any other cost
or expense, including original issue discount, incurred by the City directly associated with the
issuance of any series of PID Bonds.
“City” means the City of Anna, Texas.
“City Council” means the governing body of the City.
“County” means Collin County, Texas.
“Delinquent Collection Costs” mean costs related to the foreclosure on Assessed Property and
the costs of collection of delinquent Assessments, delinquent Annual Installments, or any other
delinquent amounts due under this 2026 Amended and Restated Service and Assessment Plan
including penalties and reasonable attorney’s fees actually paid, but excluding amounts
representing interest and penalty interest.
“Development Agreement” means the Sherley Tract Subdivision Improvement Agreement
approved by the City under Resolution No. 2020-06-733 as thereafter may have been amended.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 10
“District” means Sherley Tract Public Improvement District No. 2 containing approximately
289.751 acres located within the corporate limits of the City, and more specifically described in
Exhibit O-1 and depicted on Exhibit A-1.
“District Formation Costs” means the costs associated with forming the District, including but
not limited to, attorney fees, and any other cost or expense incurred by the City directly
associated with the establishment of the District.
“Engineer’s Report” means a report provided by a licensed professional engineer that describes
the Authorized Improvements, including their costs, location, and benefit, and is attached hereto
as Appendix A.
“Estimated Buildout Value” means the estimated value of an Assessed Property with fully
constructed buildings, as provided by the Owner and confirmed by the City Council, by
considering such factors as density, lot size, proximity to amenities, view premiums, location,
market conditions, historical sales, builder contracts, discussions with homebuilders, reports
from third party consultants, or any other factors that, in the judgment of the City, may impact
value. The Estimated Buildout Value for a Lot is shown on Exhibit E.
“Improvement Area #1” means approximately 109.402 acres located within the District, more
specifically described in Exhibit O-2 and depicted on Exhibit A-2.
“Improvement Area #1 Additional Bonds” means those certain “City of Anna, Texas Special
Assessment Revenue Bonds, Series 2025 (Sherley Tract Public Improvement District No. 2
Improvement Area #1 Project)” that are secured by a portion of the Improvement Area #1
Assessments.
“Improvement Area #1 Annual Installment” means the Annual Installment of the Improvement
Area #1 Assessment as calculated by the Administrator and approved by the City Council, that
includes: (1) principal; (2) interest; (3) Annual Collection Costs; and (4) Additional Interest, which
amount may be reduced by the TIRZ No. 3 Annual Credit Amount.
“Improvement Area #1 Assessed Property” means any Parcel within Improvement Area #1
against which an Improvement Area #1 Assessment is levied.
“Improvement Area #1 Assessment” means an Assessment levied against a Parcel of Assessed
Property within Improvement Area #1 and imposed pursuant to the 2021 Assessment Ordinance
and the provisions herein, as shown on the Improvement Area #1 Assessment Roll, subject to
reallocation upon the subdivision of such Parcel or reduction according to the provisions herein
and in the PID Act.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 11
“Improvement Area #1 Assessment Roll” means the Assessment Roll for the Improvement Area
#1 Assessed Property, as updated, modified or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #1
Assessment Roll is included in this 2026 Amended and Restated Service and Assessment Plan as
Exhibit F-1.
“Improvement Area #1 Initial Bonds” means those certain “City of Anna, Texas, Special
Assessment Revenue Bonds, Series 2021 (Sherley Tract Public Improvement District No. 2
Improvement Area #1 Project)” that are secured by the Improvement Area #1 Assessments.
“Improvement Area #1 Improvements” means the Authorized Improvements which only benefit
the Improvement Area #1 Assessed Property, as further described in Section III.A and depicted
on Exhibit K-2.
“Improvement Area #1 Initial Parcel” means all of the Improvement Area #1 Assessed Property
against which the entire Improvement Area #1 Assessment was levied at the time the City Council
approved the 2021 Assessment Ordinance.
“Improvement Area #1 Projects” means collectively: (1) the pro rata portion of the Major
Improvement costs allocable to Improvement Area #1; (2) the Improvement Area #1
Improvement costs; (3) the Annual Collection Costs related to the Improvement Area #1 Initial
Bonds and the Improvement Area #1 Additional Bonds; and (4) Bond Issuance Costs associated
with the issuance of the Improvement Area #1 Initial Bonds and the Improvement Area #1
Additional Bonds.
“Improvement Area #1 Reimbursement Agreement” means that certain “Sherley Tract Public
Improvement District No. 2 Improvement Area #1 Reimbursement Agreement” effective July 27,
2021, entered into by and between the City and Owner. The Improvement Area #1
Reimbursement Agreement was terminated following the payment of the Improvement Area #1
Reimbursement Obligation.
“Improvement Area #1 Reimbursement Obligation” means an amount not to exceed $4,157,016
secured by Improvement Area #1 Assessments to be paid to the Owner pursuant to the
Improvement Area #1 Reimbursement Agreement. The Improvement Area #1 Reimbursement
Obligation was paid from the proceeds of the Improvement Area #1 Additional Bonds.
“Improvement Area #2” means approximately 30.957 acres located within the District, more
specifically described in Exhibit O-3 and depicted on Exhibit A-3.
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 12
“Improvement Area #2 Annual Installment” means the Annual Installment of the Improvement
Area #2 Assessment as calculated by the Administrator and approved by the City Council, that
includes: (1) principal; (2) interest; (3) Additional Interest related to Improvement Area #2’s
allocable portion of the outstanding principal amount of the Improvement Area #2-4 Bonds; and
(4) Annual Collection Costs related to Improvement Area #2, as shown on Exhibit G-3.
“Improvement Area #2 Assessed Property” means any Parcel within Improvement Area #2
against which an Improvement Area #2 Assessment is levied.
“Improvement Area #2 Assessment” means an Assessment levied against a Parcel of Assessed
Property within Improvement Area #2 and imposed pursuant to the 2026 Assessment Ordinance
and the provisions herein, as shown on the Improvement Area #2 Assessment Roll, subject to
reallocation upon the subdivision of such Parcel or reduction according to the provisions herein
and in the PID Act.
“Improvement Area #2 Assessment Roll” means the Assessment Roll for the Improvement Area
#2 Assessed Property, as updated, modified or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #2
Assessment Roll is included in this 2026 Amended and Restated Service and Assessment Plan as
Exhibit G-1. The Improvement Area #2 Assessment Roll by block and lot is attached as Exhibit G-
2 for illustrative purposes only.
“Improvement Area #2 Improvements” means the Authorized Improvements which only benefit
the Improvement Area #2 Assessed Property, as further described in Section III.B and depicted
on Exhibit K-3.
“Improvement Area #2 Initial Parcel” means all of the Improvement Area #2 Assessed Property
against which the entire Improvement Area #2 Assessment was levied at the time the City Council
approved the 2026 Assessment Ordinance.
“Improvement Area #2 Projects” means collectively: (1) the Improvement Area #2 Improvement
costs; (2) the allocable portion of the Bond Issuance Costs of the Improvement Area #2-4 Bonds
related to Improvement Area #2; and (3) the portion of the deposit to the administrative fund
related to Improvement Area #2 in connection with the Improvement Area #2-4 Bonds.
“Improvement Area #3” means approximately 12.414 acres located within the District, more
specifically described in Exhibit O-4 and depicted on Exhibit A-3.
“Improvement Area #3 Annual Installment” means the Annual Installment of the Improvement
Area #3 Assessment as calculated by the Administrator and approved by the City Council, that
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 13
includes: (1) principal; (2) interest; (3) Additional Interest related to Improvement Area #3’s
allocable portion of the outstanding principal amount of the Improvement Area #2-4 Bonds; and
(4) Annual Collection Costs related to Improvement Area #3, as shown on Exhibit H-3.
“Improvement Area #3 Assessed Property” means any Parcel within Improvement Area #3
against which an Improvement Area #3 Assessment is levied.
“Improvement Area #3 Assessment” means an Assessment levied against a Parcel of Assessed
Property within Improvement Area #3 and imposed pursuant to the 2026 Assessment Ordinance
and the provisions herein, as shown on the Improvement Area #3 Assessment Roll, subject to
reallocation upon the subdivision of such Parcel or reduction according to the provisions herein
and in the PID Act.
“Improvement Area #3 Assessment Roll” means the Assessment Roll for the Improvement Area
#3 Assessed Property, as updated, modified or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #3
Assessment Roll is included in this 2026 Amended and Restated Service and Assessment Plan as
Exhibit H-1. The Improvement Area #3 Assessment Roll by block and lot is attached as Exhibit H-
2 for illustrative purposes only.
“Improvement Area #3 Improvements” means the Authorized Improvements which only benefit
the Improvement Area #3 Assessed Property, as further described in Section III.C and depicted
on Exhibit K-4.
“Improvement Area #3 Initial Parcel” means all of the Improvement Area #3 Assessed Property
against which the entire Improvement Area #3 Assessment was levied at the time the City Council
approved the 2026 Assessment Ordinance.
“Improvement Area #3 Projects” means collectively: (1) the Improvement Area #3 Improvement
costs; (2) the allocable portion of the Bond Issuance Costs of the Improvement Area #2-4 Bonds
related to Improvement Area #3; and (3) the portion of the deposit to the administrative fund
related to Improvement Area #3 in connection with the Improvement Area #2-4 Bonds.
“Improvement Area #4” means approximately 12.256 acres located within the District, more
specifically described in Exhibit O-5 and depicted on Exhibit A-3.
“Improvement Area #4 Annual Installment” means the Annual Installment of the Improvement
Area #4 Assessment as calculated by the Administrator and approved by the City Council, that
includes: (1) principal; (2) interest; (3) Additional Interest related to Improvement Area #4’s
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 14
allocable portion of the outstanding principal amount of the Improvement Area #2-4 Bonds; and
(4) Annual Collection Costs related to Improvement Area #4, as shown on Exhibit I-2.
“Improvement Area #4 Assessed Property” means any Parcel within Improvement Area #4
against which an Improvement Area #4 Assessment is levied.
“Improvement Area #4 Assessment” means an Assessment levied against a Parcel of Assessed
Property within Improvement Area #4 and imposed pursuant to the 2026 Assessment Ordinance
and the provisions herein, as shown on the Improvement Area #4 Assessment Roll, subject to
reallocation upon the subdivision of such Parcel or reduction according to the provisions herein
and in the PID Act.
“Improvement Area #4 Assessment Roll” means the Assessment Roll for the Improvement Area
#4 Assessed Property, as updated, modified or amended from time to time in accordance with
the procedures set forth herein and in the PID Act, including any updates prepared in connection
with the issuance of PID Bonds or any Annual Service Plan Updates. The Improvement Area #4
Assessment Roll is included in this 2026 Amended and Restated Service and Assessment Plan as
Exhibit I-1.
“Improvement Area #4 Improvements” means the Authorized Improvements which only benefit
the Improvement Area #4 Assessed Property, as further described in Section III.D and depicted
on Exhibit K-5.
“Improvement Area #4 Initial Parcel” means all of the Improvement Area #4 Assessed Property
against which the entire Improvement Area #4 Assessment was levied at the time the City Council
approved the 2026 Assessment Ordinance.
“Improvement Area #4 Projects” means collectively: (1) the Improvement Area #4 Improvement
costs; (2) the allocable portion of the Bond Issuance Costs of the Improvement Area #2-4 Bonds
related to Improvement Area #4; and (3) the portion of the deposit to the administrative fund
related to Improvement Area #4 in connection with the Improvement Area #2-4 Bonds.
“Indenture” means an Indenture of Trust entered into between the City and the Trustee in
connection with the issuance of each series of PID Bonds, as amended or supplemented from
time to time, between the City and the Trustee setting forth terms and conditions related to a
series of PID Bonds.
“Lot” means (1) for any portion of the District for which a final subdivision plat has been recorded
in the plat or official public records of the County, a tract of land described by “lot” in such
subdivision plat; and (2) for any portion of the District for which a subdivision plat has not been
recorded in the plat or official public records of the County, a tract of land anticipated to be
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 15
described as a “lot” in a final recorded subdivision plat as shown on a concept plan or a
preliminary plat. A “lot” shall not include real property owned by a government entity, even if
such property is designated as a separate described tract or lot on a recorded subdivision plat.
“Lot Type” means a classification of final building Lots with similar characteristics (e.g. lot size,
home product, Estimated Buildout Value, etc.), as determined by the Administrator and
confirmed by the City Council. In the case of single-family residential Lots, the Lot Type shall be
further defined by classifying the residential Lots by the Estimated Buildout Value of the Lot as
shown on Exhibit E.
“Lot Type 1” means a Lot in Improvement Area #1 marketed to homebuilders as a 40’ Lot. The
buyer disclosure for Lot Type 1 is attached in Appendix B.
“Lot Type 2” means a Lot in Improvement Area #1 marketed to homebuilders as a 50’ Lot. The
buyer disclosure for Lot Type 2 is attached in Appendix B.
“Lot Type 3” means a Lot in Improvement Area #1 marketed to homebuilders as a 60’ Lot. The
buyer disclosure for Lot Type 3 is attached in Appendix B.
“Lot Type 4” means a Lot in Improvement Area #1 marketed to homebuilders as a townhome
Lot. The buyer disclosure for Lot Type 4 is attached in Appendix B.
“Lot Type 5” means a Lot in Improvement Area #2 marketed to homebuilders as a 50’ Lot. The
buyer disclosure for Lot Type 5 is attached in Appendix B.
“Lot Type 6” means a Lot in Improvement Area #2 marketed to homebuilders as a 60’ Lot. The
buyer disclosure for Lot Type 6 is attached in Appendix B.
“Lot Type 7” means a Lot in Improvement Area #3 marketed to homebuilders as a 40’ Lot. The
buyer disclosure for Lot Type 7 is attached in Appendix B.
“Lot Type 8” means a Lot in Improvement Area #4 marketed to homebuilders as a townhome
Lot. The buyer disclosure for Lot Type 8 is attached in Appendix B.
“Major Improvement Area” means approximately 180.349 acres located within the District, and
more specifically described in Exhibit O-6 and depicted on Exhibit A-2. The Major Improvement
Area includes all of the District save and except Improvement Area #1.
“Major Improvement Area Assessed Property” means any Parcel of Assessed Property within
the Major Improvement Area against which a Major Improvement Area Assessment was levied.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 16
“Major Improvement Area Assessment” means the Assessment that was levied against the
Major Improvement Area Assessed Property and was imposed pursuant to the 2021 Assessment
Ordinance and the provisions therein.
“Major Improvement Area Assessment Roll” means the Assessment Roll for the Major
Improvement Area Assessed Property within the District. The Major Improvement Area
Assessment Roll is included in this 2026 Amended and Restated Service and Assessment Plan as
Exhibit J.
“Major Improvement Area Bonds” means those certain “City of Anna, Texas, Special Assessment
Revenue Bonds, Series 2021 (Sherley Tract Public Improvement District No. 2 Major
Improvement Area Project) to be satisfied from Prepayment in full of the Major Improvement
Area Assessment.”
“Major Improvement Area Initial Parcel” means all of the Major Improvement Area Assessed
Property against which the entire Major Improvement Area Assessment was levied at the time
the City Council approved the 2021 Assessment Ordinance.
“Major Improvement Area Projects” means collectively: (1) the pro rata portion of the Major
Improvement costs allocable to the Major Improvement Area; (2) the Annual Collection Costs
related to the Major Improvement Area Bonds; and (3) Bond Issuance Costs associated with the
issuance of the Major Improvement Area Bonds.
“Major Improvements” means those Authorized Improvements that confer special benefit to all
the Assessed Property within the District, and as further described in Section III.E. and depicted
on Exhibit K-1.
“Maximum Assessment” means for each Lot, an Assessment equal to the lesser of (1) the
amount calculated pursuant to Section VI.A, or (2) for each Lot Type, the amount shown on
Exhibit E.
“Non-Benefitted Property” means Parcels within the boundaries of the District that accrue no
special benefit from the Authorized Improvements as determined by the City Council.
“Notice of Assessment Termination” means a document that shall be recorded in the official
public records of the County evidencing the termination of an Assessment, a form of which is
attached as Exhibit M.
“Owner” means MM Anna 325, LLC and any successors or assigns thereof that intends to develop
the property in the District for the ultimate purpose of transferring title to such property to end
users.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 17
“Parcel” or “Parcels” means a specific property within the District identified by either a tax parcel
identification number assigned by the Collin Central Appraisal District for real property tax
purposes, by legal description, or by lot and block number in a final subdivision plat recorded in
the plat or official public records of the County, or by any other means determined by the City.
“PID Act” means Chapter 372, Texas Local Government Code, as amended.
“PID Bonds” means any bonds issued by the City in one or more series and secured in whole or
in part by Assessments.
“Prepayment” means the payment of all or a portion of an Assessment before the due date of
the final Annual Installment thereof. Amounts received at the time of a Prepayment which
represent a payment of principal, interest, or penalties on a delinquent installment of an
Assessment are not to be considered a Prepayment, but rather are to be treated as the payment
of the regularly scheduled Annual Installment.
“Prepayment Costs” means interest, including Additional Interest and Annual Collection Costs to
the date of Prepayment.
“Service Plan” covers a period of at least five years and defines the annual indebtedness and
projected costs of the Authorized Improvements, more specifically described in Section IV.
"TIRZ No. 3" means the Tax Increment Reinvestment Zone Number Three, City of Anna, Texas.
"TIRZ No. 3 Agreement" means the Tax Increment Reinvestment Zone No. 3, effective as of July
27, 2021.
"TIRZ No. 3 Annual Credit Amount" is defined in Section V.F, which amount shall not annually
exceed the TIRZ No. 3 Maximum Annual Credit Amount, and which shall be transferred from the
TIRZ No. 3 Fund to the applicable pledged revenue fund pursuant to the TIRZ No. 3 Agreement.
“TIRZ No. 3 PID Account” means an account of the TIRZ No. 3 Fund where the TIRZ No. 3
Revenues are deposited.
"TIRZ No. 3 Project Plan" means the Tax Increment Reinvestment Zone Number Three, City of
Anna, Texas Project and Financing Plan, dated July 27, 2021.
"TIRZ No. 3 Fund" means the tax increment fund created pursuant to the TIRZ No. 3 Ordinance
where TIRZ No. 3 Revenues are deposited annually.
“TIRZ No. 3 Maximum Annual Credit Amount” means for each Lot Type in Improvement Area
#1, the amount of TIRZ No. 3 Revenues that results in an equivalent tax rate of $0.7786 per $100
of assessed value for such Lot Type taking into consideration the tax rates of all applicable
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 18
overlapping taxing units at the time PID Bonds are sold for Improvement Area #1, and the
equivalent tax rate of the Improvement Area #1 Annual Installment, based on assumed buildout
at the time the City Council approves the Assessment Ordinance levying the Improvement Area
#1 Assessments. The assumed buildout values per projected Lot Type within Improvement Area
#1 are shown on Exhibit L. The target tax rate equivalent for Lots within Improvement Area #1 is
$0.7786 per $100 of assessed value. Based on the pricing of the Improvement Area #1 Initial
Bonds and the Improvement Area #1 Additional Bonds, the tax rate equivalent is approximately
$0.7254 per $100 of assessed value which is less than the target tax rate. Therefore, the TIRZ No.
3 Maximum Annual Credit Amount per Unit for Lots within Improvement Area #1 is calculated at
$0.00.
"TIRZ No. 3 Ordinance" means Ordinance No. 926-2021 adopted by the City Council approving
the TIRZ No. 3 Project Plan and authorizing the use of TIRZ No. 3 Revenues for project costs under
the Chapter 311, Texas Tax Code as amended, and related to certain public improvements as
provided for in the TIRZ No. 3 Project Plan.
"TIRZ No. 3 Revenues" mean, for each year, the amounts which are deposited in the TIRZ No. 3
Fund pursuant to the TIRZ No. 3 Ordinance, TIRZ No. 3 Project Plan, and TIRZ No. 3 Agreement.
“Trustee” means the trustee or successor trustee under an Indenture.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 19
SECTION II: THE DISTRICT
The District includes approximately 289.751 contiguous acres located within the corporate limits
of the City, the boundaries of which are more particularly described by the legal description on
Exhibit O-1 and depicted on Exhibit A-1. Development of the District is anticipated to include
approximately 913 Lots developed with single-family homes.
Improvement Area #1 includes approximately 109.402 contiguous acres, the boundaries of which
are more particularly described by the legal description on Exhibit O-2 and depicted on Exhibit
A-2. Development of Improvement Area #1 includes 499 Lots developed with single-family
homes (69 single-family homes on Lots classified as Lot Type 1, 340 single-family homes on Lots
classified as Lot Type 2, 18 single-family homes on Lots classified as Lot Type 3, and 72 single-
family homes on Lots classified as Lot Type 4.)
Improvement Area #2 includes approximately 30.957 contiguous acres, the boundaries of which
are more particularly described by the legal description on Exhibit O-3 and depicted on Exhibit
A-3. Development of Improvement Area #2 is anticipated to include 67 Lots developed with
single-family homes (4 single-family homes on Lots classified as Lot Type 5, and 63 single-family
homes on Lots classified as Lot Type 6)
Improvement Area #3 includes approximately 12.414 contiguous acres, the boundaries of which
are more particularly described by the legal description on Exhibit O-4 and depicted on Exhibit
A-3. Development of Improvement Area #3 is anticipated to include 72 Lots developed with
single-family homes on Lots classified as Lot Type 7.
Improvement Area #4 includes approximately 12.256 contiguous acres, the boundaries of which
are more particularly described by the legal description on Exhibit O-5 and depicted on Exhibit
A-3. Development of Improvement Area #4 is anticipated to include 115 Lots developed with
townhomes on Lots classified as Lot Type 8.
The Major Improvement Area includes approximately 180.349 contiguous acres, the boundaries
of which are more particularly described by the legal description on Exhibit O-6 and depicted on
Exhibit A-2. Development of the Major Improvement Area is anticipated to include
approximately 414 Lots developed with single-family homes.
SECTION III: AUTHORIZED IMPROVEMENTS
The City, based on information provided by the Owner and its engineer and reviewed by the City
staff and by third-party consultants retained by the City, has determined that the Authorized
Improvements confer a special benefit on the Assessed Property. Authorized Improvements will
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 20
be designed and constructed in accordance with the City’s standards and specifications and will
be owned and operated by the City. The budget for the Authorized Improvements is shown on
Exhibit B.
A. Improvement Area #1 Improvements
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, erosion control,
and all necessary appurtenances required to provide water service to all Lots within
Improvement Area #1.
Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
ductile iron encasement, boring, manholes, service connections, testing, related
earthwork, excavation, erosion control and all necessary appurtenances required to
provide wastewater service to all Lots within Improvement Area #1.
Storm Drainage
Improvements including earthen channels, swales, curb and drop inlets, RCP piping and
boxes, headwalls, concrete flumes, rock rip rap, concrete outfalls, and testing as well as
all related earthwork, excavation, erosion control and all necessary appurtenances
required to provide storm drainage for all Lots within Improvement Area #1.
Street
Improvements including subgrade stabilization, concrete and reinforcing steel for
roadways, testing, and barrier-free ramps. All related earthwork, excavation, erosion
control, retaining walls, intersections, and re-vegetation of all disturbed areas within the
right-of-way are included. The street improvements will provide benefit to each Lot within
Improvement Area #1.
Soft Costs
Costs related to designing, constructing, and installing the Improvement Area #1
Improvements including land planning and design, City fees, engineering, soil testing,
survey, construction management, contingency, District Formation Costs, legal costs,
consultants, and costs associated with financing the Improvement Area #1
Improvements.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 21
B. Improvement Area #2 Improvements
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, erosion control,
and all necessary appurtenances required to provide water service to all Lots within
Improvement Area #2.
Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
ductile iron encasement, boring, manholes, service connections, testing, related
earthwork, excavation, erosion control and all necessary appurtenances required to
provide wastewater service to all Lots within Improvement Area #2.
Storm Drainage
Improvements including earthen channels, swales, curb and drop inlets, RCP piping and
boxes, headwalls, concrete flumes, rock rip rap, concrete outfalls, and testing as well as
all related earthwork, excavation, erosion control and all necessary appurtenances
required to provide storm drainage for all Lots within Improvement Area #2.
Street
Improvements including subgrade stabilization, concrete and reinforcing steel for
roadways, testing, and barrier-free ramps. All related earthwork, excavation, erosion
control, retaining walls, intersections, and re-vegetation of all disturbed areas within the
right-of-way are included. The street improvements will provide benefit to each Lot within
Improvement Area #2.
Soft Costs
Costs related to designing, constructing, and installing the Improvement Area #2
Improvements including land planning and design, City fees, engineering, soil testing,
survey, construction management, contingency, District Formation Costs, legal costs,
consultants, and costs associated with financing the Improvement Area #2
Improvements.
C. Improvement Area #3 Improvements
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 22
manholes, service connections, testing, related earthwork, excavation, erosion control,
and all necessary appurtenances required to provide water service to all Lots within
Improvement Area #3.
Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
ductile iron encasement, boring, manholes, service connections, testing, related
earthwork, excavation, erosion control and all necessary appurtenances required to
provide wastewater service to all Lots within Improvement Area #3.
Storm Drainage
Improvements including earthen channels, swales, curb and drop inlets, RCP piping and
boxes, headwalls, concrete flumes, rock rip rap, concrete outfalls, and testing as well as
all related earthwork, excavation, erosion control and all necessary appurtenances
required to provide storm drainage for all Lots within Improvement Area #3.
Street
Improvements including subgrade stabilization, concrete and reinforcing steel for
roadways, testing, and barrier-free ramps. All related earthwork, excavation, erosion
control, retaining walls, intersections, and re-vegetation of all disturbed areas within the
right-of-way are included. The street improvements will provide benefit to each Lot within
Improvement Area #3.
Soft Costs
Costs related to designing, constructing, and installing the Improvement Area #3
Improvements including land planning and design, City fees, engineering, soil testing,
survey, construction management, contingency, District Formation Costs, legal costs,
consultants, and costs associated with financing the Improvement Area #3
Improvements.
D. Improvement Area #4 Improvements
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, erosion control,
and all necessary appurtenances required to provide water service to all Lots within
Improvement Area #4.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 23
Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
ductile iron encasement, boring, manholes, service connections, testing, related
earthwork, excavation, erosion control and all necessary appurtenances required to
provide wastewater service to all Lots within Improvement Area #4.
Storm Drainage
Improvements including earthen channels, swales, curb and drop inlets, RCP piping and
boxes, headwalls, concrete flumes, rock rip rap, concrete outfalls, and testing as well as
all related earthwork, excavation, erosion control and all necessary appurtenances
required to provide storm drainage for all Lots within Improvement Area #4.
Street
Improvements including subgrade stabilization, concrete and reinforcing steel for
roadways, testing, and barrier-free ramps. All related earthwork, excavation, erosion
control, retaining walls, intersections, and re-vegetation of all disturbed areas within the
right-of-way are included. The street improvements will provide benefit to each Lot within
Improvement Area #4.
Soft Costs
Costs related to designing, constructing, and installing the Improvement Area #4
Improvements including land planning and design, City fees, engineering, soil testing,
survey, construction management, contingency, District Formation Costs, legal costs,
consultants, and costs associated with financing the Improvement Area #4
Improvements.
E. Major Improvements
Water
Improvements including trench excavation and embedment, trench safety, PVC piping,
manholes, service connections, testing, related earthwork, excavation, erosion control
and all necessary appurtenances required to provide water service to all Lots within the
District.
Sanitary Sewer
Improvements including trench excavation and embedment, trench safety, PVC piping,
ductile iron encasement, boring, manholes, service connections, testing, related
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 24
earthwork, excavation, erosion control and all necessary appurtenances required to
provide wastewater service to all Lots within the District.
Storm Drainage
Improvements including earthen channels, swales, curb and drop inlets, RCP piping and
boxes, headwalls, concrete flumes, rock rip rap, concrete outfalls, and testing as well as
all related earthwork, excavation, erosion control and all necessary appurtenances
required to provide storm drainage for all Lots within the District.
Street
Improvements including subgrade stabilization, concrete and reinforcing steel for
roadways, testing, and barrier-free ramps. All related earthwork, excavation, erosion
control, retaining walls, intersections, and re-vegetation of all disturbed areas within the
right-of-way are included. The street improvements will provide benefit to each Lot within
the District.
Soft Costs
Costs related to designing, constructing, and installing the Major Improvements including
land planning and design, City fees, engineering, soil testing, survey, construction
management, contingency, District Formation Costs, legal fees, consultants, and costs
associated with financing the Major Improvements.
F. Bond Issuance Costs
Debt Service Reserve Fund
Equals the amount to be deposited in a debt service reserve fund under an applicable
Indenture in connection with the issuance of PID Bonds.
Capitalized Interest
Equals the amount required to be deposited for the purpose of paying capitalized interest
under an applicable Indenture in connection with the issuance of PID Bonds.
Underwriter’s Discount
Equals a percentage of the par amount of a particular series of PID Bonds related to the
costs of underwriting such PID Bonds.
Underwriter’s Counsel
Equals a percentage of the par amount of a particular series of PID Bonds reserved for the
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 25
underwriter’s attorney fees.
Cost of Issuance
Includes costs of issuing a particular series of PID Bonds, including but not limited to issuer
fees, attorney fees, financial advisory fees, consultant fees, appraisal fees, printing costs,
publication costs, City costs, fees charged by the Texas Attorney General, and any other
cost or expense directly associated with the issuance of PID Bonds.
G. Other Costs
Deposit to Administrative Fund
Equals the amount necessary to fund the first year’s Annual Collection Costs for a
particular series of PID Bonds.
SECTION IV: SERVICE PLAN
The PID Act requires the Service Plan to cover a period of at least five years. The Service Plan is
required to define the annual projected costs and indebtedness for the Authorized
Improvements undertaken within the District during the five-year period. The Service Plan must
be reviewed and updated in each Annual Service Plan Update. Exhibit C summarizes the Service
Plan for the District. The buyer disclosure notice form required by Section 5.014 of the Texas
Property Code, as amended, is attached hereto as Appendix B, and shall be included in any future
Annual Service Plan Updates.
Exhibit D summarizes the sources and uses of funds required to construct the Authorized
Improvements, issue the PID Bonds, and fund the first year’s Annual Collection Costs. The
sources and uses of funds shown on Exhibit D shall be updated in the Annual Service Plan Update.
SECTION V: ASSESSMENT PLAN
The PID Act allows the City Council to apportion the costs of the Authorized Improvements to the
Assessed Property based on the special benefit received from the Authorized Improvements. The
PID Act provides that such costs may be apportioned: (1) equally per front foot or square foot;
(2) according to the value of property as determined by the City, with or without regard to
improvements constructed on the property; or (3) in any other manner approved by the City that
results in imposing equal shares of such costs on property similarly benefited. The PID Act further
provides that the governing body may establish by ordinance or order reasonable classifications
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 26
and formulas for the apportionment of the cost between the City and the area to be assessed
and the methods of assessing the special benefits for various classes of improvements.
This section of this 2026 Amended and Restated Service and Assessment Plan describes the
special benefit received by each Parcel within the District as a result of the Authorized
Improvements and provides the basis and justification for the determination that this special
benefit equals or exceeds the amount of the Assessments levied on the Assessed Property for
such Authorized Improvements.
The determination by the City Council of the assessment methodologies set forth below is the
result of the discretionary exercise by the City Council of its legislative authority and
governmental powers and is conclusive and binding on the Owner and all future Owners and
developers of the Assessed Property.
A. Assessment Methodology
The City Council, acting in its legislative capacity and based on information provided by the Owner
and its engineer and reviewed by the City staff and by third-party consultants retained by the
City, has determined that the costs related to the Authorized Improvements shall be allocated as
follows:
The costs of the Major Improvement Area Projects were allocated 100% to the Major
Improvement Area Assessed Property based on the ratio of the Estimated Buildout Value
of each Parcel designated within the Major Improvement Area Assessed Property to the
Estimated Buildout Value of all Major Improvement Area Assessed Property at the time
the 2021 Service and Assessment Plan was approved.
The costs of the Improvement Area #1 Projects were allocated 100% to Improvement
Area #1 Assessed Property based on the ratio of the Estimated Buildout Value of each
Parcel designated as Improvement Area #1 Assessed Property to the Estimated Buildout
Value of all Improvement Area #1 Assessed Property at the time the 2021 Service and
Assessment Plan was approved.
The costs of the Improvement Area #2 Projects were allocated 100% to Improvement
Area #2 Assessed Property based on the ratio of the Estimated Buildout Value of each
Parcel designated as Improvement Area #2 Assessed Property to the Estimated Buildout
Value of all Improvement Area #2 Assessed Property at the time this 2026 Amended and
Restated Service and Assessment Plan was approved.
The costs of the Improvement Area #3 Projects were allocated 100% to Improvement
Area #3 Assessed Property based on the ratio of the Estimated Buildout Value of each
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 27
Parcel designated as Improvement Area #3 Assessed Property to the Estimated Buildout
Value of all Improvement Area #3 Assessed Property at the time this 2026 Amended and
Restated Service and Assessment Plan was approved.
The costs of the Improvement Area #4 Projects were allocated 100% to Improvement
Area #4 Assessed Property based on the ratio of the Estimated Buildout Value of each
Parcel designated as Improvement Area #4 Assessed Property to the Estimated Buildout
Value of all Improvement Area #4 Assessed Property at the time this 2026 Amended and
Restated Service and Assessment Plan was approved.
B. Assessments
Assessments are levied on the Assessed Property according to the Improvement Area #1
Assessment Roll, attached hereto as Exhibit F-1, Improvement Area #2 Assessment Roll, attached
hereto as Exhibit G-1, Improvement Area #3 Assessment Roll, attached hereto as Exhibit H-1,
Improvement Area #4 Assessment Roll, attached hereto as Exhibit I-1, and the Major
Improvement Area Assessment Roll, attached hereto as Exhibit J. The projected Annual
Installments for Improvement Area #1 are shown on Exhibit F-2, the projected Annual
Installments for the Improvement Area #2 are shown on Exhibit G-3, the projected Annual
Installments for the Improvement Area #3 are shown on Exhibit H-3, and the projected Annual
Installments for the Improvement Area #4 are shown on Exhibit I-2. Upon division or subdivision
of an Initial Parcel, the Assessment will be reallocated pursuant to Section VI.
The Maximum Assessment for each Lot Type is shown on Exhibit E. In no case will the Assessment
for Lots classified as Lot Type 1, Lot Type 2, Lot Type 3, Lot Type 4, Lot Type 5, Lot Type 6, Lot
Type 7, and Lot Type 8, respectively, exceed the corresponding Maximum Assessment for each
Lot classification.
C. Findings of Special Benefit
The City Council, acting in its legislative capacity and based on information provided by the Owner
and its engineer and reviewed by the City staff and by third-party consultants retained by the
City, has found and determined:
Improvement Area #1
The costs of the Improvement Area #1 Projects equal $14,204,996 as shown on
Exhibit B; and
The Improvement Area #1 Assessed Property receives special benefit from the
Improvement Area #1 Projects equal to or greater than the Actual Cost of the
Improvement Area #1 Projects; and
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 28
At the time the City Council approved the 2021 Service and Assessment Plan, the
Improvement Area #1 Initial Parcel was allocated 100% of the Improvement Area
#1 Assessment levied for the Improvement Area #1 Projects, which equaled
$13,557,016, of which $9,400,000 initially secured the Improvement Area #1
Initial Bonds as shown on Exhibit N-1 and $4,157,016 initially secured the
Improvement Area #1 Reimbursement Obligation. The Improvement Area #1
Initial Parcel has since been subdivided and the Improvement Area #1 Assessment
is allocated on the subdivided parcels per Section IV. The Improvement Area #1
Assessment, is outstanding in the amount of $12,172,000 as shown on the
Improvement Area #1 Assessment Roll attached hereto as Exhibit F-1 of which
$8,648,000 secures the Improvement Area #1 Initial Bonds and $3,524,000
secures the Improvement Area #1 Additional Bonds, as further described in
Section IX.D; and
The special benefit ( ≥ $14,204,996) and the special benefit expected at the time
the City Council approved the 2021 Service and Assessment Plan ( ≥ $13,557,016),
inclusive of the original issue discount, received by the Improvement Area #1
Assessed Property from the Improvement Area #1 Projects is equal to or greater
than the amount of the Improvement Area #1 Assessment ($13,557,016) levied
on the Improvement Area #1 Assessed Property for the Improvement Area #1
Projects; and
At the time the City Council approved the 2021 Service and Assessment Plan, the
Owner owned 100% of the Improvement Area #1 Initial Parcel. The Owner
acknowledged that the Improvement Area #1 Projects confer a special benefit on
the Improvement Area #1 Initial Parcel and consented to the imposition of the
Improvement Area #1 Assessment to pay for the Actual Costs associated
therewith. The Owner ratified, confirmed, accepted, agreed to, and approved: (1)
the determinations and findings by the City Council as to the special benefits
described herein and the applicable Assessment Ordinance; (2) the 2021 Service
and Assessment Plan and the 2021 Assessment Ordinance; and (3) the levying of
the Improvement Area #1 Assessment on the Improvement Area #1 Initial Parcel.
Improvement Area #2
The costs of the Improvement Area #2 Projects equal $4,041,621 as shown on
Exhibit B; and
The Improvement Area #2 Assessed Property receives special benefit from the
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 29
Improvement Area #2 Projects equal to or greater than the Actual Cost of the
Improvement Area #2 Projects; and
The Improvement Area #2 Assessed Property shall be allocated 100% of the
Improvement Area #2 Assessment levied for the Improvement Area #2 Projects,
which equals $3,845,000 as shown on the Improvement Area #2 Assessment Roll
attached hereto as Exhibit G-1; and
The special benefit ( ≥ $4,041,621), inclusive of the original issue discount,
received by the Improvement Area #2 Assessed Property from the Improvement
Area #2 Projects is equal to or greater than the amount of the Improvement Area
#2 Assessment ($3,845,000) levied on the Improvement Area #2 Assessed
Property for the Improvement Area #2 Projects; and
At the time the City Council approved this 2026 Amended and Restated Service
and Assessment Plan, the Owner and First Texas Homes, Inc. (collectively, the
“Improvement Area #2 Landowners”) owned 100% of the Improvement Area #2
Assessed Property. The Improvement Area #2 Landowners acknowledged that the
Improvement Area #2 Projects confer a special benefit on the Improvement Area
#2 Assessed Property and consented to the imposition of the Improvement Area
#2 Assessment to pay for the Actual Costs associated therewith. The Improvement
Area #2 Landowners ratified, confirmed, accepted, agreed to, and approved: (1)
the determinations and findings by the City Council as to the special benefits
described herein and the applicable Assessment Ordinance; (2) this 2026
Amended and Restated Service and Assessment Plan and the applicable
Assessment Ordinance; and (3) the levying of the Improvement Area #2
Assessment on the Improvement Area #2 Assessed Property.
Improvement Area #3
The costs of the Improvement Area #3 Projects equal $2,669,631 as shown on
Exhibit B; and
The Improvement Area #3 Assessed Property receives special benefit from the
Improvement Area #3 Projects equal to or greater than the Actual Cost of the
Improvement Area #3 Projects; and
The Improvement Area #3 Assessed Property shall be allocated 100% of the
Improvement Area #3 Assessment levied for the Improvement Area #3 Projects,
which equals $2,527,000 as shown on the Improvement Area #3 Assessment Roll
attached hereto as Exhibit H-1; and
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 30
The special benefit ( ≥ $2,669,631), inclusive of the original issue discount,
received by the Improvement Area #3 Assessed Property from the Improvement
Area #3 Projects is equal to or greater than the amount of the Improvement Area
#3 Assessment ($2,527,000) levied on the Improvement Area #3 Assessed
Property for the Improvement Area #3 Projects; and
At the time the City Council approved this 2026 Amended and Restated Service
and Assessment Plan, the Owner, Lennar Homes of Texas Land and Construction,
LTD, and Mattamy Texas, LLC (collectively, the “Improvement Area #3
Landowners”) owned 100% of the Improvement Area #3 Assessed Property. The
Improvement Area #3 Landowners acknowledged that the Improvement Area #3
Projects confer a special benefit on the Improvement Area #3 Assessed Property
and consented to the imposition of the Improvement Area #3 Assessment to pay
for the Actual Costs associated therewith. The Improvement Area #3 Landowners
ratified, confirmed, accepted, agreed to, and approved: (1) the determinations
and findings by the City Council as to the special benefits described herein and the
applicable Assessment Ordinance; (2) this 2026 Amended and Restated Service
and Assessment Plan and the applicable Assessment Ordinance; and (3) the
levying of the Improvement Area #3 Assessment on the Improvement Area #3
Assessed Property.
Improvement Area #4
The costs of the Improvement Area #4 Projects equal $3,785,612 as shown on
Exhibit B; and
The Improvement Area #4 Assessed Property receives special benefit from the
Improvement Area #4 Projects equal to or greater than the Actual Cost of the
Improvement Area #4 Projects; and
The Improvement Area #4 Assessed Property shall be allocated 100% of the
Improvement Area #4 Assessment levied for the Improvement Area #4 Projects,
which equals $3,644,000 as shown on the Improvement Area #4 Assessment Roll
attached hereto as Exhibit I-1; and
The special benefit ( ≥ $3,785,612), inclusive of the original issue discount,
received by the Improvement Area #4 Assessed Property from the Improvement
Area #4 Projects is equal to or greater than the amount of the Improvement Area
#4 Assessment ($3,644,000) levied on the Improvement Area #4 Assessed
Property for the Improvement Area #4 Projects; and
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 31
At the time the City Council approved this 2026 Amended and Restated Service
and Assessment Plan, the Owner owned 100% of the Improvement Area #4
Assessed Property. The Owner acknowledged that the Improvement Area #4
Projects confer a special benefit on the Improvement Area #4 Assessed Property
and consented to the imposition of the Improvement Area #4 Assessment to pay
for the Actual Costs associated therewith. The Owner ratified, confirmed,
accepted, agreed to, and approved: (1) the determinations and findings by the City
Council as to the special benefits described herein and the applicable Assessment
Ordinance; (2) this 2026 Amended and Restated Service and Assessment Plan and
the applicable Assessment Ordinance; and (3) the levying of the Improvement
Area #4 Assessment on the Improvement Area #4 Assessed Property.
Major Improvement Area
The costs of the Major Improvement Area Projects equal $3,069,081, as shown on
Exhibit B;
The Major Improvement Area Assessed Property receives special benefit from the
Major Improvement Area Projects equal to or greater than the Actual Cost of the
Major Improvement Area Projects;
At the time the City Council approved the 2021 Service and Assessment Plan, the
Major Improvement Area Initial Parcel was allocated 100% of the Major
Improvement Area Assessment levied for the Major Improvement Area Projects,
which equaled $2,896,000; outstanding in the amount of $0.00 as shown on the
Major Improvement Area Assessment Roll attached hereto as Exhibit J;
The special benefit ( ≥ $3,069,081) received by the Major Improvement Area
Assessed Property from the Major Improvement Area Projects is greater than or
equal to the amount of the Major Improvement Area Assessment ($2,896,000)
levied on the Major Improvement Area Assessed Property for the Major
Improvement Area Projects; and
At the time the City Council approved the 2021 Service and Assessment Plan, the
Owner owned 100% of the Major Improvement Area Initial Parcel. The Owner
acknowledged that the Major Improvement Area Projects confer a special benefit
on the Major Improvement Area Initial Parcel and consented to the imposition of
the Major Improvement Area Assessments to pay for the Actual Costs associated
therewith. The Owner has ratified, confirmed, accepted, agreed to, and approved:
(1) the determinations and findings by the City Council as to the special benefits
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 32
described herein and the applicable Assessment Ordinance; (2) the 2021 Service
and Assessment Plan and the 2021 Assessment Ordinance; and (3) the levying of
Major Improvement Area Assessment on the Major Improvement Area Initial
Parcel.
D. Annual Collection Costs
The Annual Collection Costs shall be paid for annually by the owner of each Parcel pro rata based
on the ratio of the amount of outstanding Assessment remaining on the Parcel to the total
outstanding Assessment. The Annual Collection Costs shall be collected as part of and in the
same manner as Annual Installments in the amounts shown on the Assessment Rolls, which may
be revised based on Actual Costs incurred in Annual Service Plan Updates.
E. Additional Interest
The interest rate on Assessments securing PID Bonds may exceed the interest rate on the PID
Bonds by the Additional Interest Rate. To the extent required by any Indenture, Additional
Interest shall be collected as part of each Annual Installment and shall be deposited pursuant to
the applicable Indenture.
F. TIRZ No. 3 Annual Credit Amount
The City Council, in accordance with the TIRZ No. 3 Agreement, has agreed to use a portion of
TIRZ No. 3 Revenues generated from each Assessed Property to offset a portion of such
property’s Improvement Area #1 Assessment, as applicable.
1. The Improvement Area #1 Annual Installment for an Assessed Property shall receive a TIRZ
No. 3 Annual Credit Amount equal to the TIRZ No. 3 Revenue generated by the Assessed
Property for the previous Tax Year (e.g. TIRZ No. 3 Revenue collected from the Assessed
Property for Tax Year 2021 shall be applied as the TIRZ No. 3 Annual Credit Amount applicable
to the Assessed Property’s Improvement Area #1 Annual Installment to be collected in Tax
Year 2022), but in no event shall the TIRZ No. 3 Annual Credit Amount exceed the TIRZ No. 3
Maximum Annual Credit Amount shown in Section V.F.2 as calculated on Exhibit L for each
Assessed Property.
2. The TIRZ No. 3 Maximum Annual Credit Amount available to reduce the principal and interest
of the Improvement Area #1 Annual Installment for an Assessed Property is calculated for
each Lot Type, as shown on Exhibit L. The TIRZ No. 3 Maximum Annual Credit Amount is
calculated so that the average Improvement Area #1 Annual Installment minus the TIRZ No.
3 Maximum Annual Credit Amount for each Lot Type does not produce an equivalent tax rate
for such Lot Type which exceeds the competitive, composite equivalent ad valorem tax rate
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 33
($3.09 per $100 of assessed value) taking into consideration the 2020 tax rates of all
applicable overlapping taxing units and the equivalent tax rate of the Improvement Area #1
Annual Installments based on assumed buildout values at the time the 2021 Assessment
Ordinance is approved. The resulting maximum TIRZ No. 3 Annual Credit Amount for each Lot
Type is shown below:
i. Lot Type 1: $0.00
ii. Lot Type 2: $0.00
iii. Lot Type 3: $0.00
iv. Lot Type 4: $0.00
The target tax rate equivalent for Lots within Improvement Area #1 is $0.7786 per $100 of
assessed value. Based on the pricing of the bonds, the tax rate equivalent is approximately
$0.7254 per $100 of assessed value which is less than the target tax rate. Therefore, the TIRZ No.
3 Maximum Annual Credit Amount per Unit for Lots within Improvement Area #1 is calculated at
$0.00.
3. After the TIRZ No. 3 Annual Credit Amount is applied to provide a credit towards the principal
and interest portion of the Improvement Area #1 Annual Installment for the Assessed Property
in Improvement Area #1, any excess TIRZ No. 3 Revenues available from the TIRZ No. 3 PID
Account shall be held in a segregated account by the City and shall be used in accordance with
the TIRZ No. 3 Final Plan and the TIRZ No. 3 Agreement.
SECTION VI: TERMS OF THE ASSESSMENTS
Any reallocation of Assessments as described in this Section VI shall be considered an
administrative action of the City and will not be subject to the notice of public hearing
requirements under the PID Act.
A. Reallocation of Assessment s
1. Upon Division Prior to Recording of Subdivision Plat
Upon the division of any Assessed Property (without the recording of subdivision plat),
the Administrator shall reallocate the Assessment for the Assessed Property prior to the
division among the newly divided Assessed Properties according to the following formula:
A = B x (C ÷ D)
Where the terms have the following meanings:
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 34
A = the Assessment for the newly divided Assessed Property
B = the Assessment for the Assessed Property prior to division
C = the Estimated Buildout Value of the newly divided Assessed Property
D = the sum of the Estimated Buildout Value for all of the newly divided Assessed
Properties
The calculation of the Assessment of an Assessed Property shall be performed by the
Administrator and shall be based on the Estimated Buildout Value of that Assessed
Property, relying on information from homebuilders, market studies, appraisals, official
public records of the County, and any other relevant information regarding the Assessed
Property, as provided by the Owner. The Estimated Buildout Value for Lot Type 1, Lot
Type 2, Lot Type 3, Lot Type 4, Lot Type 5, Lot Type 6, Lot Type 7, and Lot Type 8 are shown
on Exhibit E and will not change in future Annual Service Plan Updates. The calculation as
confirmed by the City Council shall be conclusive.
The sum of the Assessments for all newly divided Assessed Properties shall equal the
Assessment for the Assessed Property prior to subdivision. The calculation shall be made
separately for each newly divided Assessed Property. The reallocation of an Assessment
for an Assessed Property that is a homestead under Texas law may not exceed the
Assessment prior to the reallocation. Any reallocation pursuant to this section shall be
reflected in the next Annual Service Plan Update and approved by the City Council.
2. Upon Subdivision by a Recorded Subdivision Plat
Upon the subdivision of any Assessed Property based on a recorded subdivision plat, the
Administrator shall reallocate the Assessment for the Assessed Property prior to the
subdivision among the new subdivided Lots based on Estimated Buildout Value according
to the following formula:
A = [B x (C ÷ D)]/E
Where the terms have the following meanings:
A = the Assessment for the newly subdivided Lot
B = the Assessment for the Parcel prior to subdivision
C = the sum of the Estimated Buildout Value of all newly subdivided Lots with same
Lot Type
D = the sum of the Estimated Buildout Value for all of the newly subdivided Lots
excluding Non-Benefitted Property
E= the number of newly subdivided Lots with same Lot Type
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 35
Prior to the recording of a subdivision plat, the Owner shall provide the City an Estimated
Buildout Value for each Lot to be create after recording the subdivision plat as of the date
of the subdivision plat is anticipated to be recorded. The calculation of the Assessment
for a Lot shall be performed by the Administrator and confirmed by the City Council based
on Estimated Buildout Value information provided by the Owner, homebuilders, third
party consultants, and/or the official public records of the County regarding the Lot. The
Estimated Buildout Value for Lot Type 1, Lot Type 2, Lot Type 3, Lot Type 4, Lot Type 5,
Lot Type 6, Lot Type 7, and Lot Type 8 are shown on Exhibit E and will not change in future
Annual Service Plan Updates.
The sum of the Assessments for all newly subdivided Lots shall not exceed the Assessment
for the portion of the Assessed Property subdivided prior to subdivision. The calculation
shall be made separately for each newly subdivided Assessed Property. The reallocation
of an Assessment for an Assessed Property that is a homestead under Texas law may not
exceed the Assessment prior to the reallocation. Any reallocation pursuant to this section
shall be reflected in the next Annual Service Plan Update and approved by the City
Council.
3. Upon Consolidation
If two or more Lots or Parcels are consolidated into a single Parcel or Lot, the
Administrator shall allocate the Assessments against the Lots or Parcels before the
consolidation to the consolidated Lot or Parcel, which allocation shall be reflected in the
next Annual Service Plan Update and approved by the City Council. The Assessment for
any resulting Lot may not exceed the Maximum Assessment for the applicable Lot Type
and compliance may require a mandatory Prepayment of Assessments pursuant to
Section VI.C.
B. Mandatory Prepayment of Assessments
If an Assessed Property or a portion thereof is conveyed to a party that is exempt from payment
of the Assessment under applicable law, or the owner causes a Lot, Parcel or portion thereof to
become Non-Benefitted Property, the owner of such Lot, Parcel or portion there of shall pay to
the City the full amount of the Assessment, plus all Prepayment Costs and Delinquent Collection
Costs for such Assessed Property, prior to any such conveyance or act. Following payment of the
foregoing costs in full, the City shall provide the owner with a recordable “Notice of Assessment
Termination,” a form of which is attached hereto as Exhibit M.
C. True-Up of Assessments if Maximum Assessment Exceeded at Plat
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 36
Prior to the City approving a final subdivision plat, the Administrator will certify that such plat
will not result in the Assessment per Lot for any Lot Type to exceed the Maximum Assessment. If
the Administrator determines that the resulting Assessment per Lot for any Lot Type will exceed
the Maximum Assessment for that Lot Type, then (1) the Assessment applicable to each Lot Type
shall each be reduced to the Maximum Assessment, and (2) the person or entity filing the plat
shall pay to the City the amount the Assessment was reduced, plus Prepayment Costs and
Delinquent Collection Costs, if any, prior to the City approving the final plat. The City’s approval
of a plat without payment of such amounts does not eliminate the obligation of the person or
entity filing the plat to pay such amounts.
D. Reduction of Assessment s
If as a result of cost savings or the failure to construct all or a portion of an Authorized
Improvement, the Actual Costs of completed Authorized Improvements are less than the
Assessments, (i) in the event PID Bonds are not issued, the City Council shall reduce each
Assessment on a pro rata basis such that the sum of the resulting reduced Assessments for all
Assessed Property equals the reduced Actual Costs that were expended, or (ii) in the event that
PID Bonds are issued, the Trustee shall apply amounts on deposit in the applicable account of the
Project Fund, relating to the PID Bonds, that are not expected to be used for purposes of the
Project Fund to redeem outstanding PID Bonds, unless otherwise directed by the applicable
Indenture, and the TIRZ No. 3 Annual Credit Amount will be reduced in the same proportion as
the Assessments. Excess PID Bond proceeds shall be applied to redeem outstanding PID Bonds.
The Assessments shall not, however, be reduced to an amount less than the amount required to
pay all debt service requirements on all outstanding PID Bonds.
The Administrator shall update (and submit to the City Council for review and approval as part of
the next Annual Service Plan Update) the Assessment Roll and corresponding Annual Installments
to reflect the reduced Assessments.
E. Prep ayment of Assessment s
The owner of any Assessed Property may pay, at any time, all or any part of an Assessment in
accordance with the PID Act. Prepayment Costs, if any, may be paid from a reserve established
under the applicable Indenture. If an Annual Installment has been billed, or the Annual Service
Plan Update has been approved by the City Council prior to the Prepayment, the Annual
Installment shall be due and payable and shall be credited against the Prepayment. If an
Assessment on an Assessed Property is prepaid in full, with Prepayment Costs, (1) the
Administrator shall cause the Assessment to be reduced to zero on said Assessed Property and
the Assessment Roll to be revised accordingly; (2) the Administrator shall prepare the revised
Assessment Roll and submit such revised Assessment Roll to the City Council for review and
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 37
approval as part of the next Annual Service Plan Update; (3) the obligation to pay the Assessment
and corresponding Annual Installments shall terminate with respect to said Assessed Property;
and (4) the City shall provide the owner with a recordable “Notice of Assessment Termination.”
If an Assessment on an Assessed Property is prepaid in part, with Prepayment Costs: (1) the
Administrator shall cause the Assessment to be reduced on said Assessed Property and the
Assessment Roll revised accordingly; (2) the Administrator shall prepare the revised Assessment
Roll and submit to the City Council for review and approval as part of the next Annual Service
Plan Update; and (3) the obligation to pay the Assessment will be reduced to the extent of the
Prepayment made.
For purposes of Prepayments, Improvement Area #1 Additional Bonds will be on parity with the
Improvement Area #1 Initial Bonds.
Any Prepayment in full or partial Prepayment of an Improvement Area #1 Assessment, shall be
allocated pro rata between the Improvement Area #1 Initial Bonds and the Improvement Area
#1 Additional Bonds based on the ratio of the outstanding principal amounts of each series of PID
Bonds to the aggregate amount of the outstanding Improvement Area #1 Initial Bonds and
Improvement Area #1 Additional Bonds, as of the date such Prepayment is received.
F. Payment of Assessment in Annual Installments
Assessments that are not paid in full shall be due and payable in Annual Installments. Exhibit F-2
shows the estimated Improvement Area #1 Annual Installments, Exhibit G-3 shows the estimated
Improvement Area #2 Annual Installments, Exhibit H-3 shows the estimated Improvement Area
#3 Annual Installments, and Exhibit I-2 shows the estimated Improvement Area #1 Annual
Installments. Annual Installments are subject to adjustment in each Annual Service Plan Update.
Prior to the recording of a final subdivision plat, if any Parcel shown on an Assessment Roll is
assigned multiple tax parcel identification numbers for billing and collection purposes, the Annual
Installment shall be allocated pro rata based on the acreage of the property not including any
Non-Benefitted Property or non-assessed property, as shown by the Collin Central Appraisal
District for each tax parcel identification number.
The Administrator shall prepare and submit to the City Council for its review and approval an
Annual Service Plan Update to allow for the billing and collection of Annual Installments. Each
Annual Service Plan Update shall include updated Assessment Rolls and updated calculations of
Annual Installments. The Annual Collection Costs for a given Assessment shall be paid by the
owner of each Parcel pro rata based on the ratio of the amount of outstanding Assessment
remaining on the Parcel to the total outstanding Assessment. Annual Installments shall be
reduced by any credits applied under an applicable Indenture, such as capitalized interest,
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 38
interest earnings on account balances, and any other funds available to the Trustee for such
purposes. Annual Installments shall be collected by the City in the same manner and at the same
time as ad valorem taxes. Annual Installments shall be subject to the penalties, procedures, and
foreclosure sale in case of delinquencies as set forth in the PID Act and in the same manner as ad
valorem taxes due and owing to the City. The City Council may provide for other means of
collecting Annual Installments. Assessments shall have the lien priority specified in the PID Act.
Sales of the Assessed Property for nonpayment of Annual Installments shall be subject to the lien
for the remaining unpaid Annual Installments against the Assessed Property, and the Assessed
Property may again be sold at a judicial foreclosure sale if the purchaser fails to timely pay any of
the remaining unpaid Annual Installments as they become due and payable.
The City reserves the right to refund PID Bonds in accordance with applicable law, including the
PID Act. In the event of a refunding, the City’s Financial Advisor shall recalculate the principal
and interest on such PID Bonds so that total Annual Installments will be sufficient to pay the
refunding bonds, and the refunding bonds shall constitute “PID Bonds.”
Each Annual Installment of an Assessment, including interest on the unpaid principal of the
Assessment, shall be updated annually. Each Annual Installment shall be due when billed and
shall be delinquent if not paid prior to February 1 of the following year. The initial Annual
Installments of the Improvement Area #1 Assessments and Major Improvement Area
Assessments were due when billed and delinquent if not paid prior to February 1, 2022. The initial
Annual Installments of the Improvement Area #2 Assessments, Improvement Area #3
Assessments, and Improvement Area #4 Assessments will be due when billed and delinquent if
not paid prior to February 1, 2027.
Failure of an owner of an Assessed Property to receive an invoice for an Annual Installment on
the property tax bill shall not relieve said owner of the responsibility for payment of the
Assessment. Assessments, or Annual Installments thereof, that are delinquent shall incur
Delinquent Collection Costs. The City may provide for other means of collecting the Annual
Installments to the extent permitted by the PID Act, or other applicable law.
G. Prepayment as a Result of an Eminent Domain Proceeding or Taking
Subject to applicable law, if any portion of any Parcel of Assessed Property is taken from an owner
as a result of eminent domain proceedings or if a transfer of any portion of any Parcel of Assessed
Property is made to an entity with the authority to condemn all or a portion of the Assessed
Property in lieu of or as a part of an eminent domain proceeding (a “Taking”), the portion of the
Assessed Property that was taken or transferred (the “Taken Property”) shall be reclassified as
Non-Benefitted Property.
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 39
For the Assessed Property that is subject to the Taking as described in the preceding paragraph,
the Assessment that was levied against the Assessed Property (when it was included in the Taken
Property) prior to the Taking shall remain in force against the remaining Assessed Property (the
Assessed Property less the Taken Property) (the “Remaining Property”), following the
reclassification of the Taken Property as Non-Benefitted Property, subject to an adjustment of
the Assessment applicable to the Remaining Property after any required Prepayment as set forth
below. The owner of the Remaining Property will remain liable to pay in Annual Installments, or
payable as otherwise provided by this 2026 Amended and Restated Service and Assessment Plan,
as updated, or the PID Act, the Assessment that remains due on the Remaining Property, subject
to an adjustment in the Assessment applicable to the Remaining Property after any required
Prepayment as set forth below. Notwithstanding the foregoing, if the Assessment that remains
due on the Remaining Property exceeds the applicable Maximum Assessment, the owner of the
Remaining Property will be required to make a Prepayment in an amount necessary to ensure
that the Assessment against the Remaining Property does not exceed such Maximum
Assessment, in which case the Assessment applicable to the Remaining Property will be reduced
by the amount of the partial Prepayment. If the City receives all or a portion of the eminent
domain proceeds (or payment made in an agreed sale in lieu of condemnation), such amount
shall be credited against the amount of prepayment, with any remainder credited against the
assessment on the Remainder Property.
In all instances the Assessment remaining on the Remaining Property shall not exceed the
applicable Maximum Assessment.
By way of illustration, if an owner owns 100 acres of Assessed Property subject to a $100
Assessment and 10 acres is taken through a Taking, the 10 acres of Taken Property shall be
reclassified as Non-Benefitted Property and the remaining 90 acres of Remaining Property shall
be subject to the $100 Assessment (provided that this $100 Assessment does not exceed the
Maximum Assessment on the Remaining Property). If the Administrator determines that the
$100 Assessment reallocated to the Remaining Property would exceed the Maximum
Assessment, as applicable, on the Remaining Property by $10, then the owner shall be required
to pay $10 as a Prepayment of the Assessment against the Remaining Property and the
Assessment on the Remaining Property shall be adjusted to be $90.
Notwithstanding the previous paragraphs in this subsection, if the owner of the Taken Property
notifies the City and the Administrator that the Taking prevents the Remaining Property from
being developed for any use which could support the Estimated Buildout Value requirement, the
owner shall, upon receipt of the compensation for the Taken Property, be required to prepay the
amount of the Assessment required to buy down the outstanding Assessment to the applicable
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 40
Maximum Assessment on the Remaining Property to support the Estimated Buildout Value
requirement. Said owner will remain liable to pay the Annual Installments on both the Taken
Property and the Remaining Property until such time that such Assessment has been prepaid in
full.
Notwithstanding the previous paragraphs in this subsection, the Assessments shall never be
reduced to an amount less than the amount required to pay all outstanding debt service
requirements on all outstanding PID Bonds.
SECTION VII: ASSESSMENT ROLL
The Improvement Area #1 Assessment Roll is attached as Exhibit F-1. The Improvement Area #2
Assessment Roll is attached as Exhibit G-1. The Improvement Area #2 Assessment Roll by block
and lot is attached as Exhibit G-2 for illustrative purposes only. The Improvement Area #3
Assessment Roll is attached as Exhibit H-1. The Improvement Area #3 Assessment Roll by block
and lot is attached as Exhibit H-2 for illustrative purposes only. The Improvement Area #4
Assessment Roll is attached as Exhibit I-1. The Major Improvement Area Assessment Roll is
attached as Exhibit J. The Administrator shall prepare and submit to the City Council for review
and approval proposed revisions to the Assessment Rolls and Annual Installments for each Parcel
as part of each Annual Service Plan Update.
SECTION VIII: ADDITIONAL PROVISIONS
A. Calculation Errors
If the owner of a Parcel claims that an error has been made in any calculation required by this
2026 Amended and Restated Service and Assessment Plan, including, but not limited to, any
calculation made as part of any Annual Service Plan Update, the owner’s sole and exclusive
remedy shall be to submit a written notice of error to the Administrator by December 1st of each
year in connection with City Council approval of that year’s calculation. Otherwise, said owner
shall be deemed to have unconditionally approved and accepted the calculation. The
Administrator shall provide a written response to the City Council and the owner not later than
30 days of such receipt of a written notice of error by the Administrator. The City Council shall
consider the owner’s notice of error and the Administrator’s response at a public meeting, and
not later than 30 days after closing such meeting, the City Council shall make a final
determination as to whether an error has been made. If the City Council determines that an
error has been made, the City Council take such corrective action as is authorized by the PID Act,
this 2026 Amended and Restated Service and Assessment Plan, the applicable Assessment
Ordinance, the applicable Indenture, or as otherwise authorized by the discretionary power of
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 41
the City Council. The determination by the City Council as to whether an error has been made,
and any corrective action taken by the City Council, shall be final and binding on the owner and
the Administrator.
B. Amendments
Amendments to this 2026 Amended and Restated Service and Assessment Plan must be made
by the City Council in accordance with the PID Act. To the extent permitted by the PID Act, this
2026 Amended and Restated Service and Assessment Plan may be amended without notice to
owners of the Assessed Property: (1) to correct mistakes and clerical errors; (2) to clarify
ambiguities; and (3) to provide procedures to collect Assessments, Annual Installments, and
other charges imposed by this 2026 Amended and Restated Service and Assessment Plan.
C. Administration and Interpretation
The Administrator shall: (1) perform the obligations of the Administrator as set forth in this 2026
Amended and Restated Service and Assessment Plan; (2) administer the District for and on behalf
of and at the direction of the City Council; and (3) interpret the provisions of this 2026 Amended
and Restated Service and Assessment Plan. Interpretations of this 2026 Amended and Restated
Service and Assessment Plan by the Administrator shall be in writing and shall be appealable to
the City Council by owners of Assessed Property adversely affected by the interpretation.
Appeals shall be decided by the City Council after holding a public meeting at which all interested
parties have an opportunity to be heard. Decisions by the City Council shall be final and binding
on the owners of Assessed Property and developers and their successors and assigns.
D. Form of Buyer Disclosure; Filing Requirements
Per Section 5.014 of the Texas Property Code, as amended, this 2026 Amended and Restated
Service and Assessment Plan, and any future Annual Service Plan Updates, shall include a form
of the buyer disclosures for the district. The buyer disclosures are attached hereto as Appendix
B. Within seven days of approval by the City Council, the City shall file and record in the real
property records of the County the executed ordinance of this 2026 Amended and Restated
Service and Assessment Plan, or any future Annual Service Plan Updates. The executed
ordinance, including any attachments, approving this 2026 Amended and Restated Service and
Assessment Plan or any future Annual Service Plan Updates shall be filed and recorded in their
entirety.
E. Severability
If any provision of this 2026 Amended and Restated Service and Assessment Plan is determined
by a governmental agency or court to be unenforceable, the unenforceable provision shall be
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2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 42
deleted and, to the maximum extent possible, shall be rewritten to be enforceable. Every effort
shall be made to enforce the remaining provisions.
SECTION IX: ADDITIONAL INFORMATION
The following information shall serve as the Annual Service Plan Update for Improvement Area
#1 and the Major Improvement Area.
A. Parcel Subdivision
Improvement Area #1
• The final plat of The Villages of Hurricane Creek – North, Phase 1 was filed and recorded
with the County as document number 2023010000160 on April 20, 2023, and consists of
344 residential Lots and 12 Lots of Non-Benefited Property.
• The final plat of The Villages of Hurricane Creek – North, Phase 1A was filed and recorded
with the County as document number 2023010000161 on April 20, 2023, and consists of
155 residential Lots and 9 Lots of Non-Benefited Property.
• The replat of The Villages of Hurricane Creek – North, Phase 1A Lots 37R-44R & 26XR,
Block W was filed and recorded with the County as document number 2024010000144
on March 26, 2024.
See the completed Lot Type classification summary within Improvement Area #1 below:
See Exhibit A-1 for the map of the District showing Lot Type classifications.
B. Lot and Home Sales
Per the Quarterly Report dated December 31, 2025, the Lot ownership composition is provided
below:
Lot Type Number of
Lots
Total 499
Improvement Area #1
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 43
Improvement Area #1
See Appendix B for the buyer disclosures.
C. Authorized Improvements
Improvement Area #1
The Owner has completed the Authorized Improvements listed in the 2021 Service and
Assessment Plan and they were dedicated to the City.
Major Improvement Area
The Owner has completed the Authorized Improvements listed in the 2021 Service and
Assessment Plan and they were dedicated to the City.
Private Costs
The Owner has completed the Private Improvements listed in the 2021 Service and Assessment
Plan and they were dedicated to the City.
D. Outstanding Assessments
Improvement Area #1
Net of the principal bond payment due September 15, Improvement Area #1 has an outstanding
Assessment of $12,172,000.00, of which $8,648,000.00 is attributable to the Improvement Area
#1 Initial Bonds and $3,524,000.00 is attributable to the Improvement Area #1 Additional Bonds.
Major Improvement Area
The Major Improvement Area Assessment was prepaid in full. As a result, no outstanding
Assessment remains with respect to the Major Improvement Area Assessment, and no further
Annual Installments thereof shall be due after such Prepayment.
Lot Type Developer
Owned
Homebuilder
Owned
End-User
Owned
Total 39 85 375
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 44
E. TIRZ No. 3 Annual Credit
Improvement Area #1
The City Council, in accordance with the TIRZ No. 3 TIRZ Agreement, has agreed to use a portion
of TIRZ No. 3 TIRZ Revenues generated to reduce the Improvement Area #1 Annual Installment
for all Improvement Area #1 Assessed Property so that the Improvement Area #1 Annual
Installment minus the TIRZ No. 3 Annual Credit Amount for each Lot Type does not produce an
equivalent tax rate which exceeds the competitive composite ad valorem equivalent tax rate
taking into consideration the tax rates of all applicable taxing units and the equivalent tax rate of
the Improvement Area #1 Annual Installments. The resulting Maximum TIRZ No. 3 Annual Credit
Amount for each Lot Type is shown below.
F. Annual Installment Due 1/31/2027
Improvement Area #1
Improvement Area #1 Initial Bond – Principal and Interest – The total principal and
interest required for the Annual Installment related to the Improvement Area #1 Initial
Bond is $558,575.00.
Improvement Area #1 Additional Bond – Principal and Interest – The total principal and
interest required for the Annual Installment related to the Improvement Area #1
Additional Bond is $262,115.00.
Additional Interest – Additional Interest is collected to fund the Delinquency and
Prepayment Reserve Account. The Delinquency and Prepayment Reserve Requirement,
as defined in the applicable Indenture related to the Improvement Area #1 Initial Bonds
and Improvement Area #1 Additional Bonds, is equal to $418,659.50 and has not been
met. As such, the Delinquency and Prepayment Reserve Account will be funded with
Additional Interest on the outstanding Assessment, resulting in an Additional Interest for
Improvement Area #1 Annual Installment of $60,860.00.
Lot Type
TIRZ No. 3 Maximum
Annual Credit Amount
per Unit
Improvement Area #1
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 45
Annual Collection Costs – The cost of administering the District and collecting the Annual
Installments shall be paid for on a pro rata basis by each Parcel based on the amount of
outstanding Assessment remaining on the Parcel. The total Annual Collection Costs
budgeted for the Annual Installment for Improvement Area #1 is $55,079.64.
G. Prepayment of Assessment in Full
Improvement Area #1
No full prepayments have occurred within Improvement Area #1.
Total Annual Collection Costs 55,079.64$
Annual Collection Costs Breakdown
Improvement Area #1
Improvement Area #1 Initial Bonds
Improvement Area #1 Additional Bonds
Total Annual Installment 936,629.64$
Improvement Area #1
Due January 31, 2027
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 46
Major Improvement Area
The Major Improvement Area Assessment has been prepaid in full.
H. Partial Prepayment of Assessments
Improvement Area #1
No partial prepayments have occurred within Improvement Area #1.
I. Extraordinary Optional Redemption
Major Improvement Area
Information relating to any redemptions, including extraordinary optional redemption of any PID
Bonds, may be available through continuing disclosure filings accessible via EMMA website by
searching for the District.
[Remainder of page intentionally left blank.]
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 47
EXHIBITS
The following Exhibits are attached to and made a part of this 2026 Amended and Restated
Service and Assessment Plan for all purposes:
Exhibit A-1 Map of the District
Exhibit A-2 Map of Improvement Area #1 and the Major Improvement Area
Exhibit A-3 Map of Improvement Area #2, Improvement Area #3, and Improvement
Area #4
Exhibit A-4 Lot Type Classification Map - Improvement Area #2, Improvement Area #3,
and Improvement Area #4
Exhibit B Project Costs
Exhibit C Service Plan
Exhibit D Sources and Uses of Funds
Exhibit E Maximum Assessment and Tax Rate Equivalent
Exhibit F-1 Improvement Area #1 Assessment Roll
Exhibit F-2 Improvement Area #1 Annual Installments
Exhibit G-1 Improvement Area #2 Assessment Roll
Exhibit G-2 Improvement Area #2 Assessment Roll by Block and Lot
Exhibit G-3 Improvement Area #2 Annual Installments
Exhibit H-1 Improvement Area #3 Assessment Roll
Exhibit H-2 Improvement Area #3 Assessment Roll by Block and Lot
Exhibit H-3 Improvement Area #3 Annual Installments
Exhibit I-1 Improvement Area #4 Assessment Roll
Exhibit I-2 Improvement Area #4 Annual Installments
Exhibit J Major Improvement Area Assessment Roll
Exhibit K-1 Maps of Major Improvements
Exhibit K-2 Maps of Improvement Area #1 Improvements
Exhibit K-3 Maps of Improvement Area #2 Improvements
Exhibit K-4 Maps of Improvement Area #3 Improvements
Exhibit K-5 Maps of Improvement Area #4 Improvements
Exhibit L TIRZ No. 3 Annual Credit Amount by Lot Type
Exhibit M Form of Notice of Assessment Termination
Exhibit N-1 Debt Service Schedules for Improvement Area #1 Initial Bonds
Exhibit N-2 Debt Service Schedules for Improvement Area #1 Additional Bonds
Exhibit N-3 Debt Service Schedules for Improvement Area #2-4 Bonds
Exhibit O-1 District Legal Description
Exhibit O-2 Improvement Area #1 Legal Description
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 48
Exhibit O-3 Improvement Area #2 Legal Description
Exhibit O-4 Improvement Area #3 Legal Description
Exhibit O-5 Improvement Area #4 Legal Description
Exhibit O-6 Major Improvement Area Legal Description
APPENDICES
The following Appendices are attached to and made a part of this 2026 Amended and Restated
Service and Assessment Plan for all purposes:
Appendix A Engineer’s Report
Appendix B Buyer Disclosures
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 49
EXHIBIT A-1 – MAP OF THE DISTRICT
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 50
EXHIBIT A-2 – MAP OF IMPROVEMENT AREA #1 AND THE MAJOR IMPROVEMENT AREA
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 51
EXHIBIT A-3 – MAP OF IMPROVEMENT AREA #2, IMPROVEMENT AREA #3, AND IMPROVEMENT AREA #4
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 52
EXHIBIT A-4 – LOT TYPE CLASSIFICATION MAP - IMPROVEMENT AREA #2, IMPROVEMENT AREA #3, AND
IMPROVEMENT AREA #4
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 53
EXHIBIT B – PROJECT COSTS
Footnotes: [a] The costs of the Improvement Area #1 Improvements and the Major Improvements are as provided and determined in the 2018 Assessment Ordinances and updated in the 2025
Amended and Restated Service and Assessment Plan. The costs of Improvement Area #2 Improvements, Improvement Area #3 Improvements, and Improvement Area #4 Improvements
are as provided in the Engineer's Report dated 5/12/2026 and subject to change, attached hereto as Appendix A. Authorized Improvement costs are estimates and will be updated with
each Annual Service Plan Update, or the Service and Assessment Plan as amended.
[b] Miscellaneous costs and soft costs include entitlements, development agreement, district creation, engineering & surveying, SWPPP, preliminary platting fee, final platting fee,
maintenance bond, engineering review fee, inspection fee, and geotechnical testing.
[c] The Major Improvements were allocated between Improvement Area #1 and the Major Improvement Area at the time the City Council approved the 2018 Assessment Ordinance based
on the ratio of Estimated Buildout Value of each area to the Estimated Buildout Value of the District.
[d] Includes the fee of counsel to the Underwriter.
%Cost %Cost %Cost %Cost %Cost
Major Improvements[c]
Improvement Area #1 Improvements
Improvement Area #2 Improvements
Improvement Area #3 Improvements
Improvement Area #4 Improvements
Private Costs
Bond Issuance Costs - IA#1 Initial Bonds and MIA Bonds
Bond Issuance Costs - IA#1 Additional Bonds
Bond Issuance Costs - Improvement Area #2-4 Bonds
Other Costs
Total 34,752,370$ 6,981,429$ 27,580,940$ 14,204,996$ 4,041,621$ 2,669,631$ 3,785,612$ 3,069,081$
Private Costs
Improvement Area #1
Projects
Major Improvement
Area ProjectsTotal Costs[a]
Improvement Area #2
Projects
Improvement Area #3
Projects
Improvement Area #4
ProjectsAuthorized
Improvements
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 54
EXHIBIT C – SERVICE PLAN
Annual Installment Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031
Improvement Area #1 Initial Bonds
Principal $ 204,000.00 $ 212,000.00 $ 220,000.00 $ 228,000.00 $ 237,000.00
Interest 354,575.00 346,925.00 338,975.00 330,725.00 322,175.00
(1) $ 558,575.00 $ 558,925.00 $ 558,975.00 $ 558,725.00 $ 559,175.00
Improvement Area #1 Additional Bonds
Principal $ 69,000.00 $ 72,000.00 $ 76,000.00 $ 79,000.00 $ 83,000.00
Interest 193,115.00 190,010.00 186,770.00 183,350.00 179,795.00
(2) $ 262,115.00 $ 262,010.00 $ 262,770.00 $ 262,350.00 $ 262,795.00
Additional Interest (3) $ 60,860.00 $ 59,495.00 $ 58,075.00 $ 56,595.00 $ 55,060.00
Annual Collection Costs (4) $ 55,079.64 $ 64,851.23 $ 66,148.26 $ 67,471.22 $ 68,820.65
Total Annual Installment (5) = (1) + (2) + (3) + (4) $936,629.64 $945,281.23 $945,968.26 $945,141.22 $ 945,850.65
Improvement Area #1
Annual Installment Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031
Improvement Area #2-4 Bonds
Principal $ 16,000.00 $ 65,000.00 $ 67,000.00 $ 70,000.00 $ 73,000.00
Interest 266,102.42 215,995.00 212,988.76 209,890.00 206,652.50
Capitalized Interest - - - - -
(1) $ 282,102.42 $ 280,995.00 $ 279,988.76 $ 279,890.00 $ 279,652.50
Additional Interest (2) $ 19,225.00 $ 19,145.00 $ 18,820.00 $ 18,485.00 $ 18,135.00
Annual Collection Costs (3) $ 40,000.00 $ 40,800.00 $ 41,616.00 $ 42,448.32 $ 43,297.29
Total Annual Installment (4) = (1) + (2) + (3) $341,327.42 $340,940.00 $340,424.76 $340,823.32 $ 341,084.79
Improvement Area #2
Annual Installment Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031
Improvement Area #2-4 Bonds
Principal $ 14,000.00 $ 46,000.00 $ 48,000.00 $ 49,000.00 $ 51,000.00
Interest 174,350.58 141,357.50 139,230.00 137,010.00 134,743.76
Capitalized Interest - - - - -
(1) $ 188,350.58 $ 187,357.50 $ 187,230.00 $ 186,010.00 $ 185,743.76
Additional Interest (2) $ 12,635.00 $ 12,565.00 $ 12,335.00 $ 12,095.00 $ 11,850.00
Annual Collection Costs (3) $ 40,000.00 $ 40,800.00 $ 41,616.00 $ 42,448.32 $ 43,297.29
Total Annual Installment (4) = (1) + (2) + (3) $240,985.58 $240,722.50 $241,181.00 $240,553.32 $ 240,891.05
Improvement Area #3
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 55
Annual Installment Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031
Improvement Area #2-4 Bonds
Principal $ - $ 62,000.00 $ 64,000.00 $ 67,000.00 $ 69,000.00
Interest 252,342.10 205,527.50 202,660.00 199,700.00 196,601.26
Capitalized Interest (252,342.10) - - - -
(1) $ - $ 267,527.50 $ 266,660.00 $ 266,700.00 $ 265,601.26
Additional Interest (2) $ 18,220.00 $ 18,220.00 $ 17,910.00 $ 17,590.00 $ 17,255.00
Annual Collection Costs (3) $ 40,000.00 $ 40,800.00 $ 41,616.00 $ 42,448.32 $ 43,297.29
Total Annual Installment (4) = (1) + (2) + (3) $ 58,220.00 $326,547.50 $326,186.00 $326,738.32 $ 326,153.55
Improvement Area #4
Annual Installment Due 1/31/2027 1/31/2028 1/31/2029 1/31/2030 1/31/2031
Principal $ - $ - $ - $ - $ -
Interest - - - - -
(1) $ - $ - $ - $ - $ -
Additional Interest (2) $ - $ - $ - $ - $ -
Annual Collection Costs (3) $ - $ - $ - $ - $ -
Total Annual Installment (4) = (1) + (2) + (3) $ - $ - $ - $ - $ -
Footnotes:
[g] The Major Improvement Area Assessment was prepaid in full. As a result, no outstanding Assessment remains with respect to the
Major Improvement Area Assessment, and no further Annual Installments thereof shall be due after such Prepayment.
Major Improvement Area[d]
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 56
EXHIBIT D – SOURCES AND USES OF FUNDS
Footnotes: [a] Not to be reimbursed to the Developer through proceeds from the Assessments. To be funded privately.
[b] Not PID eligible. To be privately funded by the Developer.
[c] The Major Improvement Area Bonds have been paid and satisfied in full by Extraordinary Optional Redemption dated May 15, 2026.
[d] Funds collected from Major Improvement Area Assessments and are remaining after the Major Improvement Area Bonds were paid in full. These funds are
being transferred solely for the purpose of paying a portion of the Cost of Issuance for the Improvement Area #2-4 Bonds and shall not be used for any other
Privately
Funded
Improvement
Area #1
Improvement
Area #2
Improvement
Area #3
Improvement
Area #4
Major
Improvement
Area Total
Improvement Area #1 Initial Bond -$ 9,400,000$ -$ -$ -$ -$ 9,400,000$
Improvement Area #1 Initial Bond Original Issue Discount - (20,470) - - - - (20,470)
Improvement Area #1 Reimbursement Obligation - 1,016 - - - - 1,016
Improvement Area #1 Additional Bonds - 3,593,000 - - - - 3,593,000
Improvement Area #2-4 Bonds - - 3,845,000 2,527,000 3,644,000 - 10,016,000
Major Improvement Area Bond[c]- - - - - 2,896,000 2,896,000
Original Issue Discount - (15,841) (18,765) (12,273) (17,745) - (64,624)
Developer Contribution[a]- 1,247,291 177,623 130,086 123,568 173,081 1,851,648
Developer Contribution - Private Costs[b]6,981,429 - - - - - 6,981,429
Major Improvement Area Bond Trust Estate Remaining Funds[d]- - 37,763 24,819 35,789 - 98,371
Total Sources 6,981,429$ 14,204,996$ 4,041,621$ 2,669,631$ 3,785,612$ 3,069,081$ 34,752,370$
Major Improvements -$ 2,348,433$ -$ -$ -$ 2,259,650$ 4,608,083$
Improvement Area #1 Improvements - 9,316,223 - - - - 9,316,223
Improvement Area #2 Improvements - - 3,384,316 - - - 3,384,316
Improvement Area #3 Improvements - - - 2,223,927 - - 2,223,927
Improvement Area #4 Improvements - - - - 2,908,234 - 2,908,234
Private Costs[b]6,981,429 - - - - - 6,981,429
6,981,429$ 11,664,656$ 3,384,316$ 2,223,927$ 2,908,234$ 2,259,650$ 29,422,214$
Bond Issuance Costs - IA#1 Initial Bonds and MIA Bonds
Debt Service Reserve Fund -$ 575,460$ -$ -$ -$ 198,230$ 773,690$
Capitalized Interest - 409,547 - - - 295,917 705,464
Underwriter's Discount - 188,000 - - - 57,920 245,920
Underwriter's Counsel - 94,000 - - - 28,960 122,960
Costs of Issuance - 569,883 - - - 193,404 763,286
-$ 1,836,890$ -$ -$ -$ 774,431$ 2,611,321$
Bond Issuance Costs - IA#1 Additional Bonds
Debt Service Reserve Fund -$ 278,451$ -$ -$ -$ -$ 278,451$
Underwriter's Discount - 107,790 - - - - 107,790
Costs of Issuance - 269,918 - - - - 269,918
PID Administration Bond Preparation - 12,290 - - - - 12,290
-$ 668,450$ -$ -$ -$ -$ 668,450$
Bond Issuance Costs - Improvement Area #2-4 Bonds
Debt Service Reserve Fund -$ -$ 271,624$ 178,516$ 257,424$ -$ 707,564$
Capitalized Interest - - - - 252,342 - 252,342
Underwriter's Discount - - 115,350 75,810 109,320 - 300,480
Cost of Issuance - - 230,331 151,378 218,291 - 600,000
-$ -$ 617,305$ 405,704$ 837,377$ -$ 1,860,386$
Other Costs
Deposit to Administrative Fund -$ 35,000$ 40,000$ 40,000$ 40,000$ 35,000$ 190,000$
-$ 35,000$ 40,000$ 40,000$ 40,000$ 35,000$ 190,000$
Total Uses 6,981,429$ 14,204,996$ 4,041,621$ 2,669,631$ 3,785,612$ 3,069,081$ 34,752,370$
Sources of Funds
Uses of Funds
Improvement Area #2-4 Bonds
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 57
EXHIBIT E – MAXIMUM ASSESSMENT AND TAX RATE EQUIVALENT
Footnotes: [a] Estimated Buildout Value for each Lot Type within Improvement Area #1 reflects estimated values at the time of the City Council’s approval of the 2021 Assessment Ordinance. Improvement
Area #2, Improvement Area #3, and Improvement Area #4 Estimated Buildout Values are as provided by the Developer, dated 11/4/2025.
[b] The Improvement Area #1 Average Annual Installment at the time the City Council approved the 2025 Amended and Restated Service and Assessment Plan.
[c] The Major Improvement Area Assessment was prepaid in full. As a result, no outstanding Assessment remains with respect to the Major Improvement Area Assessment, and no further
Annual Installments thereof shall be due after such Prepayment.
Per Unit Total Total Total Total Per Unit Total Per Unit Total
Improvement Area #1
Lot Type 1 69 240,000$ 16,560,000$ 1,087,006$ 442,947$ 22,173.24$ 1,529,954$ 1,740.85$ 120,119$ 0.7254$
Lot Type 2 340 273,750$ 93,075,000$ 6,109,486$ 2,489,573$ 25,291.35$ 8,599,060$ 1,985.66$ 675,123$ 0.7254$
Lot Type 3 18 328,500$ 5,913,000$ 388,132$ 158,161$ 30,349.62$ 546,293$ 2,382.79$ 42,890$ 0.7254$
Lot Type 4 72 225,000$ 16,200,000$ 1,063,376$ 433,318$ 20,787.41$ 1,496,694$ 1,632.05$ 117,507$ 0.7254$
Improvement Area #1 Total 499 131,748,000$ 8,648,000$ 3,524,000$ 12,172,000$ 955,639$
Improvement Area #2
Lot Type 5 4 450,000$ 1,800,000$ 189,877$ -$ 47,469.14$ 189,877$ 4,205.31$ 16,821$ 0.9345$
Lot Type 6 63 550,000$ 34,650,000$ 3,655,123$ -$ 58,017.83$ 3,655,123$ 5,139.82$ 323,809$ 0.9345$
Improvement Area #2 Total 67 36,450,000$ 3,845,000$ -$ 3,845,000$ 340,630$
Improvement Area #3
Lot Type 7 72 350,000$ 25,200,000$ 2,527,000$ -$ 35,097.22$ 2,527,000$ 3,342.52$ 240,661$ 0.9550$
Improvement Area #3 Total 72 25,200,000$ 2,527,000$ -$ 2,527,000$ 240,661$
Improvement Area #4
Lot Type 8 115 300,000$ 34,500,000$ 3,644,000$ -$ 31,686.96$ 3,644,000$ 2,840.18$ 326,621$ 0.9467$
Improvement Area #4 Total 115 34,500,000$ 3,644,000$ -$ 3,644,000$ 326,621$
Future Improvement Area Total 160 62,271,750$ -$ -$ -$
Major Improvement Area Total 414 158,421,750$ -$ -$ -$
Grand Total 913 290,169,750$ 18,664,000$ 3,524,000$ -$ 22,188,000$
Assessments
Estimated Buildout Value[a]Total Assessment Average Annual
Installment[b]Lot Type Units PID TRE
Improvement
Area
PID Bonds
Additional Bonds
Major Improvement Area
Major
Improvement
Area Bonds[c]
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 58
EXHIBIT F-1 – IMPROVEMENT AREA #1 ASSESSMENT ROLL
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 59
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 60
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 61
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 62
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 63
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 64
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 65
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 66
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 67
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 68
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 69
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 70
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 71
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 72
EXHIBIT F-2 – IMPROVEMENT AREA #1 ANNUAL INSTALLMENTS
Principal Interest[a]Principal Interest[b]
2027 204,000.00$ 354,575.00$ 69,000.00$ 193,115.00$ 60,860.00$ 55,079.64$ 936,629.64$
2028 212,000.00$ 346,925.00$ 72,000.00$ 190,010.00$ 59,495.00$ 64,851.23$ 945,281.23$
2029 220,000.00$ 338,975.00$ 76,000.00$ 186,770.00$ 58,075.00$ 66,148.26$ 945,968.26$
2030 228,000.00$ 330,725.00$ 79,000.00$ 183,350.00$ 56,595.00$ 67,471.22$ 945,141.22$
2031 237,000.00$ 322,175.00$ 83,000.00$ 179,795.00$ 55,060.00$ 68,820.65$ 945,850.65$
2032 247,000.00$ 313,287.50$ 88,000.00$ 176,060.00$ 53,460.00$ 70,197.06$ 948,004.56$
2033 257,000.00$ 303,407.50$ 92,000.00$ 172,100.00$ 51,785.00$ 71,601.00$ 947,893.50$
2034 268,000.00$ 293,127.50$ 96,000.00$ 167,960.00$ 50,040.00$ 73,033.02$ 948,160.52$
2035 279,000.00$ 282,407.50$ 101,000.00$ 163,640.00$ 48,220.00$ 74,493.68$ 948,761.18$
2036 290,000.00$ 271,247.50$ 106,000.00$ 159,095.00$ 46,320.00$ 75,983.56$ 948,646.06$
2037 302,000.00$ 259,647.50$ 113,000.00$ 153,132.50$ 44,340.00$ 77,503.23$ 949,623.23$
2038 315,000.00$ 247,567.50$ 120,000.00$ 146,776.26$ 42,265.00$ 79,053.29$ 950,662.05$
2039 328,000.00$ 234,967.50$ 127,000.00$ 140,026.26$ 40,090.00$ 80,634.36$ 950,718.12$
2040 342,000.00$ 221,847.50$ 135,000.00$ 132,882.50$ 37,815.00$ 82,247.04$ 951,792.04$
2041 356,000.00$ 208,167.50$ 143,000.00$ 125,288.76$ 35,430.00$ 83,891.98$ 951,778.24$
2042 372,000.00$ 193,927.50$ 152,000.00$ 117,245.00$ 32,935.00$ 85,569.82$ 953,677.32$
2043 388,000.00$ 178,117.50$ 161,000.00$ 108,695.00$ 30,315.00$ 87,281.22$ 953,408.72$
2044 405,000.00$ 161,627.50$ 171,000.00$ 99,638.76$ 27,570.00$ 89,026.85$ 953,863.11$
2045 424,000.00$ 144,415.00$ 182,000.00$ 90,020.00$ 24,690.00$ 90,807.38$ 955,932.38$
2046 443,000.00$ 126,395.00$ 193,000.00$ 79,782.50$ 21,660.00$ 92,623.53$ 956,461.03$
2047 463,000.00$ 107,567.50$ 205,000.00$ 68,443.76$ 18,480.00$ 94,476.00$ 956,967.26$
2048 483,000.00$ 87,890.00$ 218,000.00$ 56,400.00$ 15,140.00$ 96,365.52$ 956,795.52$
2049 505,000.00$ 67,362.50$ 232,000.00$ 43,592.50$ 11,635.00$ 98,292.83$ 957,882.83$
2050 528,000.00$ 45,900.00$ 247,000.00$ 29,962.50$ 7,950.00$ 100,258.69$ 959,071.19$
2051 552,000.00$ 23,460.00$ 263,000.00$ 15,451.26$ 4,075.00$ 102,263.86$ 960,250.12$
Total 8,648,000.00$ 5,465,712.50$ 3,524,000.00$ 3,179,232.56$ 934,300.00$ 2,027,974.93$ 23,779,219.99$
Notes:
[a] Interest on the Improvement Area #1 Initial Bonds is calculated at 3.250%, 3.750%, 4.000%,and 4.250%rate for term bonds due 2026, 2031,
2041, and 2051 respectively.
[b] Interest on the Improvement Area #1 Additional Bonds is calculated at 4.500%, 5.625%,and 5.875%rate for term bonds due 2035, 2045,and
2051 respectively.
[c]The figures shown above are estimates only and subject to change in Annual Service Plan Updates.Changes in Collection Costs,reserve fund
requirements, interest earnings, or other available offsets could increase or decrease the amounts shown.
Improvement Area #1 Additional
BondsImprovement Area #1 Initial Bonds
Annual
Installment
Due 1/31
Total
Additional
Interest
Annual
Collection
Costs
Total Annual
Installment Due[c]
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 73
EXHIBIT G-1 – IMPROVEMENT AREA #2 ASSESSMENT ROLL
2856586 Improvement Area #2 Initial Parcel 20,312.82$ 1,803.20$
2797551 Improvement Area #2 Initial Parcel 2,223,886.66$ 197,418.33$
1007216 Improvement Area #2 Initial Parcel 1,600,800.52$ 142,105.88$
Notes:
[a] The Improvement Area #2 Assessment and Improvement Area #2 Annual Installment have initially been allocated
between all Property IDs within Improvement Area #2 pro rata based on acreage as reported by Collin Central
Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this 2026
Amended and Restated Service and Assessment Plan.
[b] Totals may not match Service Plan or Annual Installment schedule due to rounding.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 74
EXHIBIT G-2 – IMPROVEMENT AREA #2 ASSESSMENT ROLL BY BLOCK AND LOT
[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Installment
Due
TBD 2 W 48 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 49 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 50 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 51 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 52 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 53 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 54 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 55 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 56 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 57 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 58 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 59 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 60 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 61 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 62 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 63 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 64 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 65 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 66 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 67 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 68 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 69 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 70 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 71 Lot Type 6 $58,017.83 $5,150.35
TBD 2 W 72X Non-Benefited Property $0.00 $0.00
TBD 2 V 15 Lot Type 5 $47,469.14 $4,213.92
TBD 2 V 16 Lot Type 5 $47,469.14 $4,213.92
TBD 2 X 11 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 12 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 13 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 14 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 15 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 16 Lot Type 6 $58,017.83 $5,150.35
TBD 2 X 17 Lot Type 6 $58,017.83 $5,150.35
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 75
Legal Description Improvement Area #2[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Installment
Due
TBD 2 X 18 Lot Type 6 $58,017.83 $5,150.35
TBD 3 X 19 Lot Type 6 $58,017.83 $5,150.35
TBD 2 BB 10 Lot Type 5 $47,469.14 $4,213.92
TBD 2 BB 11 Lot Type 5 $47,469.14 $4,213.92
TBD 2 CC 1 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 2 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 3 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 4 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 5 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 6 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 7 Lot Type 6 $58,017.83 $5,150.35
TBD 2 CC 8X Non-Benefited Property $0.00 $0.00
TBD 2 DD 1 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 2 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 3 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 4 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 5 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 6 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 7 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 8 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 9 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 10 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 11 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 12 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 13 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 14 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 15 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 16 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 17 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 18 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 19 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 20 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 21 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 22 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 23 Lot Type 6 $58,017.83 $5,150.35
TBD 2 DD 24X Non-Benefited Property $0.00 $0.00
TBD 2 DD 25X Non-Benefited Property $0.00 $0.00
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 76
Legal Description Improvement Area #2[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Installment
Due
TBD 2 DD 26X Non-Benefited Property $0.00 $0.00
[b]
Notes: [a] Property IDs reflected as "TBD" have not yet been assigned a Property ID by the Collin Central Appraisal
District for Tax Year 2026 at the time of this 2026 Amended and Restated Service and Assessment Plan.
[b] Totals may not sum or match the Service Plan or Improvement Area #2 Annual Installment schedule due
to rounding.
[c] For illustrative purposes only.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 77
EXHIBIT G-3 – IMPROVEMENT AREA #2 ANNUAL INSTALLMENT
2027 16,000.00$ 266,102.42$ 19,225.00$ -$ 40,000.00$ 341,327.42$
2028 65,000.00$ 215,995.00$ 19,145.00$ -$ 40,800.00$ 340,940.00$
2029 67,000.00$ 212,988.76$ 18,820.00$ -$ 41,616.00$ 340,424.76$
2030 70,000.00$ 209,890.00$ 18,485.00$ -$ 42,448.32$ 340,823.32$
2031 73,000.00$ 206,652.50$ 18,135.00$ -$ 43,297.29$ 341,084.79$
2032 75,000.00$ 203,276.26$ 17,770.00$ -$ 44,163.24$ 340,209.50$
2033 78,000.00$ 199,807.50$ 17,395.00$ -$ 45,046.50$ 340,249.00$
2034 82,000.00$ 196,200.00$ 17,005.00$ -$ 45,947.43$ 341,152.43$
2035 85,000.00$ 192,407.50$ 16,595.00$ -$ 46,866.38$ 340,868.88$
2036 88,000.00$ 188,476.26$ 16,170.00$ -$ 47,803.71$ 340,449.97$
2037 92,000.00$ 184,406.26$ 15,730.00$ -$ 48,759.78$ 340,896.04$
2038 96,000.00$ 179,231.26$ 15,270.00$ -$ 49,734.98$ 340,236.24$
2039 101,000.00$ 173,831.26$ 14,790.00$ -$ 50,729.68$ 340,350.94$
2040 106,000.00$ 168,150.00$ 14,285.00$ -$ 51,744.27$ 340,179.27$
2041 112,000.00$ 162,187.50$ 13,755.00$ -$ 52,779.16$ 340,721.66$
2042 118,000.00$ 155,887.50$ 13,195.00$ -$ 53,834.74$ 340,917.24$
2043 124,000.00$ 149,250.00$ 12,605.00$ -$ 54,911.43$ 340,766.43$
2044 130,000.00$ 142,275.00$ 11,985.00$ -$ 56,009.66$ 340,269.66$
2045 137,000.00$ 134,962.50$ 11,335.00$ -$ 57,129.85$ 340,427.35$
2046 145,000.00$ 127,256.26$ 10,650.00$ -$ 58,272.45$ 341,178.71$
2047 152,000.00$ 119,100.00$ 9,925.00$ -$ 59,437.90$ 340,462.90$
2048 161,000.00$ 109,980.00$ 9,165.00$ -$ 60,626.66$ 340,771.66$
2049 170,000.00$ 100,320.00$ 8,360.00$ -$ 61,839.19$ 340,519.19$
2050 180,000.00$ 90,120.00$ 7,510.00$ -$ 63,075.97$ 340,705.97$
2051 190,000.00$ 79,320.00$ 6,610.00$ -$ 64,337.49$ 340,267.49$
2052 201,000.00$ 67,920.00$ 5,660.00$ -$ 65,624.24$ 340,204.24$
2053 213,000.00$ 55,860.00$ 4,655.00$ -$ 66,936.72$ 340,451.72$
2054 226,000.00$ 43,080.00$ 3,590.00$ -$ 68,275.45$ 340,945.45$
2055 239,000.00$ 29,520.00$ 2,460.00$ -$ 69,640.96$ 340,620.96$
2056 253,000.00$ 15,180.00$ 1,265.00$ (271,623.70)$ 71,033.78$ 68,855.08$
Notes:
[a]Interest rate on Improvement Area #2-4 Bonds is 4.625%for bonds maturing 2036, 5.625%for bonds maturing 2046,and
6.00% for bonds maturing 2056.
[b] Assumes the Reserve Fund is fully funded and available to reduce Annual Installments in the final year.
[c]The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Collection
Costs,reserve fund requirements, interest earnings,or other available offsets could increase or decrease the amounts
shown.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 78
EXHIBIT H-1 – IMPROVEMENT AREA #3 ASSESSMENT ROLL
2797418 Improvement Area #3 Initial Parcel 838,538.25$ 79,966.61$
2797551 Improvement Area #3 Initial Parcel 1,187,321.28$ 113,228.06$
2797548 Improvement Area #3 Initial Parcel 501,140.48$ 47,790.91$
Footnotes:
[a] The Improvement Area #3 Assessment and Improvement Area #3 Annual Installment have initially been allocated
between all Property IDs within Improvement Area #3 pro rata based on acreage as reported by Collin Central
Appraisal District. Future allocation of the Assessment will be done in accordance with Section VI of this 2026
Amended and Restated Service and Assessment Plan.
[b] Totals may not match Service Plan or Annual Installment schedule due to rounding.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 79
EXHIBIT H-2 – IMPROVEMENT AREA #3 ASSESSMENT ROLL BY BLOCK AND LOT
[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Total Annual
Installment
Due
1/31/2027
TBD 2 L 1 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 2 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 3 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 4 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 5 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 6 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 7 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 8 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 9 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 10 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 11 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 12 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 13 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 14 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 15 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 16 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 17 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 18 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 19 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 20 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 21 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 22 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 23 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 24 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 25 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 26 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 27 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 28 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 29 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 30 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 31 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 32 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 33 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 34 Lot Type 7 $35,097.22 $3,347.02
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 80
Legal Description Improvement Area #3[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Total Annual
Installment
Due
1/31/2027
TBD 2 L 35 Lot Type 7 $35,097.22 $3,347.02
TBD 3 L 36 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 37 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 38 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 39 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 40 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 41 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 42 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 43 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 44 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 45 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 46 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 47 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 48 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 49 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 50 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 51 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 52 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 53 Lot Type 7 $35,097.22 $3,347.02
TBD 2 L 54X Non-Benefited Property $0.00 $0.00
TBD 2 L 55X Non-Benefited Property $0.00 $0.00
TBD 2 M 1 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 2 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 3 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 4 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 5 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 6 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 7 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 8 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 9 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 10 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 11 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 12 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 13 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 14 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 15 Lot Type 7 $35,097.22 $3,347.02
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 81
Legal Description Improvement Area #3[c]
Property
ID[a] Phase Block Lot Lot Type Outstanding
Assessment
Total Annual
Installment
Due
1/31/2027
TBD 2 M 16 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 17 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 18 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 19 Lot Type 7 $35,097.22 $3,347.02
TBD 2 M 20X Non-Benefited Property $0.00 $0.00
[b]
Notes: [a] Property IDs reflected as "TBD" have not yet been assigned a Property ID by the Collin Central
Appraisal District for Tax Year 2026 at the time of this 2026 Amended and Restated Service and
Assessment Plan.
[b] Totals may not sum or match the Service Plan or Improvement Area #3 Annual Installment schedule
due to rounding.
[c] For illustrative purposes only.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 82
EXHIBIT H-3 – IMPROVEMENT AREA #3 ANNUAL INSTALLMENT
2027 14,000.00$ 174,350.58$ 12,635.00$ -$ 40,000.00$ 240,985.58$
2028 46,000.00$ 141,357.50$ 12,565.00$ -$ 40,800.00$ 240,722.50$
2029 48,000.00$ 139,230.00$ 12,335.00$ -$ 41,616.00$ 241,181.00$
2030 49,000.00$ 137,010.00$ 12,095.00$ -$ 42,448.32$ 240,553.32$
2031 51,000.00$ 134,743.76$ 11,850.00$ -$ 43,297.29$ 240,891.05$
2032 53,000.00$ 132,385.00$ 11,595.00$ -$ 44,163.24$ 241,143.24$
2033 54,000.00$ 129,933.76$ 11,330.00$ -$ 45,046.50$ 240,310.26$
2034 56,000.00$ 127,436.26$ 11,060.00$ -$ 45,947.43$ 240,443.69$
2035 58,000.00$ 124,846.26$ 10,780.00$ -$ 46,866.38$ 240,492.64$
2036 60,000.00$ 122,163.76$ 10,490.00$ -$ 47,803.71$ 240,457.47$
2037 62,000.00$ 119,388.76$ 10,190.00$ -$ 48,759.78$ 240,338.54$
2038 65,000.00$ 115,901.26$ 9,880.00$ -$ 49,734.98$ 240,516.24$
2039 68,000.00$ 112,245.00$ 9,555.00$ -$ 50,729.68$ 240,529.68$
2040 71,000.00$ 108,420.00$ 9,215.00$ -$ 51,744.27$ 240,379.27$
2041 75,000.00$ 104,426.26$ 8,860.00$ -$ 52,779.16$ 241,065.42$
2042 78,000.00$ 100,207.50$ 8,485.00$ -$ 53,834.74$ 240,527.24$
2043 82,000.00$ 95,820.00$ 8,095.00$ -$ 54,911.43$ 240,826.43$
2044 86,000.00$ 91,207.50$ 7,685.00$ -$ 56,009.66$ 240,902.16$
2045 90,000.00$ 86,370.00$ 7,255.00$ -$ 57,129.85$ 240,754.85$
2046 94,000.00$ 81,307.50$ 6,805.00$ -$ 58,272.45$ 240,384.95$
2047 99,000.00$ 76,020.00$ 6,335.00$ -$ 59,437.90$ 240,792.90$
2048 104,000.00$ 70,080.00$ 5,840.00$ -$ 60,626.66$ 240,546.66$
2049 110,000.00$ 63,840.00$ 5,320.00$ -$ 61,839.19$ 240,999.19$
2050 116,000.00$ 57,240.00$ 4,770.00$ -$ 63,075.97$ 241,085.97$
2051 122,000.00$ 50,280.00$ 4,190.00$ -$ 64,337.49$ 240,807.49$
2052 128,000.00$ 42,960.00$ 3,580.00$ -$ 65,624.24$ 240,164.24$
2053 135,000.00$ 35,280.00$ 2,940.00$ -$ 66,936.72$ 240,156.72$
2054 143,000.00$ 27,180.00$ 2,265.00$ -$ 68,275.45$ 240,720.45$
2055 151,000.00$ 18,600.00$ 1,550.00$ -$ 69,640.96$ 240,790.96$
2056 159,000.00$ 9,540.00$ 795.00$ (178,515.76)$ 71,033.78$ 61,853.02$
Notes:
[a]Interest rate on Improvement Area #2-4 Bonds is 4.625%for bonds maturing 2036, 5.625%for bonds maturing 2046,
and 6.00% for bonds maturing 2056.
[b] Assumes the Reserve Fund is fully funded and available to reduce Annual Installments in the final year.
[c]The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Collection
Costs,reserve fund requirements, interest earnings,or other available offsets could increase or decrease the amounts
shown.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 83
EXHIBIT I-1 – IMPROVEMENT AREA #4 ASSESSMENT ROLL
Property ID[a]Lot Type Outstanding
Assessment
Annual Installment
Due 1/31/2027[c]
2797418 Improvement Area #4 Initial Parcel 2,280,870.27$ 36,441.35$
2797548 Improvement Area #4 Initial Parcel 1,363,129.73$ 21,778.65$
3,644,000.00$ 58,220.00$
Footnotes:
Total[b]
[a] The Improvement Area #4 Assessment and Improvement Area #4 Annual Installment have initially
been allocated between all Property IDs within Improvement Area #4 pro rata based on acreage as
reported by Collin Central Appraisal District.Future allocation of the Assessment will be done in
accordance with Section VI of this 2026 Amended and Restated Service and Assessment Plan.
[b] Totals may not match Service Plan or Annual Installment schedule due to rounding.
[c] Includes Capitalized Interest.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 84
EXHIBIT I-2 – IMPROVEMENT AREA #4 ANNUAL INSTALLMENT
2027 -$ 252,342.10$ 18,220.00$ (252,342.10)$ -$ 40,000.00$ 58,220.00$
2028 62,000.00$ 205,527.50$ 18,220.00$ -$ -$ 40,800.00$ 326,547.50$
2029 64,000.00$ 202,660.00$ 17,910.00$ -$ -$ 41,616.00$ 326,186.00$
2030 67,000.00$ 199,700.00$ 17,590.00$ -$ -$ 42,448.32$ 326,738.32$
2031 69,000.00$ 196,601.26$ 17,255.00$ -$ -$ 43,297.29$ 326,153.55$
2032 72,000.00$ 193,410.00$ 16,910.00$ -$ -$ 44,163.24$ 326,483.24$
2033 75,000.00$ 190,080.00$ 16,550.00$ -$ -$ 45,046.50$ 326,676.50$
2034 78,000.00$ 186,611.26$ 16,175.00$ -$ -$ 45,947.43$ 326,733.69$
2035 81,000.00$ 183,003.76$ 15,785.00$ -$ -$ 46,866.38$ 326,655.14$
2036 84,000.00$ 179,257.50$ 15,380.00$ -$ -$ 47,803.71$ 326,441.21$
2037 88,000.00$ 175,372.50$ 14,960.00$ -$ -$ 48,759.78$ 327,092.28$
2038 92,000.00$ 170,422.50$ 14,520.00$ -$ -$ 49,734.98$ 326,677.48$
2039 97,000.00$ 165,247.50$ 14,060.00$ -$ -$ 50,729.68$ 327,037.18$
2040 101,000.00$ 159,791.26$ 13,575.00$ -$ -$ 51,744.27$ 326,110.53$
2041 107,000.00$ 154,110.00$ 13,070.00$ -$ -$ 52,779.16$ 326,959.16$
2042 112,000.00$ 148,091.26$ 12,535.00$ -$ -$ 53,834.74$ 326,461.00$
2043 118,000.00$ 141,791.26$ 11,975.00$ -$ -$ 54,911.43$ 326,677.69$
2044 124,000.00$ 135,153.76$ 11,385.00$ -$ -$ 56,009.66$ 326,548.42$
2045 130,000.00$ 128,178.76$ 10,765.00$ -$ -$ 57,129.85$ 326,073.61$
2046 137,000.00$ 120,866.26$ 10,115.00$ -$ -$ 58,272.45$ 326,253.71$
2047 145,000.00$ 113,160.00$ 9,430.00$ -$ -$ 59,437.90$ 327,027.90$
2048 153,000.00$ 104,460.00$ 8,705.00$ -$ -$ 60,626.66$ 326,791.66$
2049 162,000.00$ 95,280.00$ 7,940.00$ -$ -$ 61,839.19$ 327,059.19$
2050 171,000.00$ 85,560.00$ 7,130.00$ -$ -$ 63,075.97$ 326,765.97$
2051 181,000.00$ 75,300.00$ 6,275.00$ -$ -$ 64,337.49$ 326,912.49$
2052 191,000.00$ 64,440.00$ 5,370.00$ -$ -$ 65,624.24$ 326,434.24$
2053 202,000.00$ 52,980.00$ 4,415.00$ -$ -$ 66,936.72$ 326,331.72$
2054 214,000.00$ 40,860.00$ 3,405.00$ -$ -$ 68,275.45$ 326,540.45$
2055 227,000.00$ 28,020.00$ 2,335.00$ -$ -$ 69,640.96$ 326,995.96$
2056 240,000.00$ 14,400.00$ 1,200.00$ -$ (257,424.39)$ 71,033.78$ 69,209.39$
Notes:
[a]Interest rate on Improvement Area #2-4 Bonds is 4.625%for bonds maturing 2036, 5.625%for bonds maturing 2046,and 6.00%for bonds
maturing 2056.
[b] Assumes the Reserve Fund is fully funded and available to reduce Annual Installments in the final year.
[c]The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Collection Costs,reserve
fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 85
EXHIBIT J – MAJOR IMPROVEMENT AREA ASSESSMENT ROLL
Property ID Lot Type Outstanding
Assessment[a]
Annual Installment Due
1/31/2027
1007216 Major Improvement Area Initial Parcel -$ -$
2797552 Major Improvement Area Initial Parcel -$ -$
2797418 Major Improvement Area Initial Parcel -$ -$
2797551 Major Improvement Area Initial Parcel -$ -$
2797548 Major Improvement Area Initial Parcel -$ -$
2881010 Non-Benefited Property -$ -$
2881269 Non-Benefited Property -$ -$
-$ -$
Notes:
Total
[a] The Major Improvement Area Assessment was prepaid in full. As a result, no outstanding Assessment
remains with respect to the Major Improvement Area Assessment, and no further Annual Installments
thereof shall be due after such Prepayment.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 86
EXHIBIT K-1 – MAPS OF MAJOR IMPROVEMENTS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 87
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 88
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 89
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 90
EXHIBIT K-2 – MAPS OF IMPROVEMENT AREA #1 IMPROVEMENTS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 91
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 92
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 93
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 94
EXHIBIT K-3 – MAPS OF IMPROVEMENT AREA #2 IMPROVEMENTS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 95
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 96
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 97
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 98
EXHIBIT K-4 – MAPS OF IMPROVEMENT AREA #3 IMPROVEMENTS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 99
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 100
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 101
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 102
EXHIBIT K-5 – MAPS OF IMPROVEMENT AREA #4 IMPROVEMENTS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 103
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 104
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 105
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 106
EXHIBIT L – TIRZ NO. 3 ANNUAL CREDIT AMOUNT BY LOT TYPE
Lot Type
Estimated
Buildout Value
per Unit
Assessment
per Unit
Average Annual
Installment per
Unit
Equivalent
PID Tax Rate
Equivalent
Total Tax
Rate[a]
TIRZ No. 3 Maximum
Annual Credit Amount
per Unit
Net Annual
Installment
per Unit
Net
Equivalent
PID Tax Rate
Net Equivalent
Total Tax Rate[b]
Improvement Area #1
Lot Type 1 (40')240,000$ 22,658$ 1,741$ 0.7254$ 2.7183$ -$ 1,741$ 0.7254$ 2.7183$
Lot Type 2 (50')273,750$ 25,844$ 1,986$ 0.7254$ 2.7183$ -$ 1,986$ 0.7254$ 2.7183$
Lot Type 3 (60')328,500$ 31,013$ 2,383$ 0.7254$ 2.7183$ -$ 2,383$ 0.7254$ 2.7183$
Lot Type 4 (Townhomes)225,000$ 21,242$ 1,632$ 0.7254$ 2.7183$ -$ 1,632$ 0.7254$ 2.7183$
Notes:
[a] Including the following taxing jurisdictions: The City of Anna, Collin County, CCC College, and Anna ISD.
[b] The target tax rate equivalent for Lots within Improvement Area #1 is $0.7786 per $100 of assessed value. Based on the pricing of the Improvement Area #1 Initial Bonds and the preliminary
pricing of the Improvement Area #1 Additional Bonds, the tax rate equivalent is approximately $0.7254 per $100 of assessed value which is less than the target tax rate. Therefore, the TIRZ No. 3
Maximum Annual Credit Amount per Unit for Lots within Improvement Area #1 is calculated at $0.00.
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 107
EXHIBIT M – FORM OF NOTICE OF ASSESSMENT TERMINATION
P3Works, LLC
9284 Huntington Square, Suite 100
North Richland Hills, TX 76182
______________________________________________________________________________
[Date]
Collin County Clerk’s Office
Honorable [County Clerk]
Collin County Administration Building
2300 Bloomdale Rd, Suite 2106
McKinney, TX 75071
Re: City of Anna Lien Release documents for filing
Dear Ms./Mr. [County Clerk]
Enclosed is a lien release that the City of Anna is requesting to be filed in your office. Lien
release for [insert legal description]. Recording Numbers: [Plat]. Please forward copies of the
filed documents to my attention:
City of Anna
Attn: City Secretary
101 S Powell Pkwy
Anna, TX 75409
Please contact me if you have any questions or need additional information.
Sincerely,
[Signature]
P3Works, LLC
(817) 393-0353
Admin@P3-Works.com
www.P3-Works.com
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 108
AFTER RECORDING RETURN TO:
[City Secretary Name]
101 S Powell Pkwy
Anna, TX 75409
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU
MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION
FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST IN REAL PROPERTY
BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL
SECURITY NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
FULL RELEASE OF PUBLIC IMPROVEMENT DISTRICT LIEN
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF COLLIN §
THIS FULL RELEASE OF PUBLIC IMPROVEMENT DISTRICT LIEN (this "Full
Release") is executed and delivered as of the Effective Date by the City of Anna, Texas, a Texas
home rule municipality (the “City”).
RECITALS
WHEREAS, the governing body (hereinafter referred to as the "City Council") of the City,
Texas is authorized by Chapter 372, Texas Local Government Code, as amended (hereinafter
referred to as the "Act"), to create public improvement districts within the corporate limits and the
extraterritorial jurisdiction of the City; and
WHEREAS, on December 8, 2020 the City Council of the City approved Resolution No.
2020-12-839 creating the Sherley Tract Public Improvement District No. 2 (the “District”); and
WHEREAS, the District consists of approximately 289.751 contiguous acres within the
extraterritorial jurisdiction of the City; and
WHEREAS, on ____________, the City Council, approved Ordinance No. __________,
(hereinafter referred to as the "Assessment Ordinance") approving a service and assessment plan and
assessment roll for the real property located with the District, the Assessment Ordinance being
recorded on _____________, as Instrument No. ________ in the Official Public Records of Collin
County, TX; and
WHEREAS, the Assessment Ordinance imposed an assessment in the amount of [amount]
(hereinafter referred to as the "Lien Amount") and further imposed a lien to secure the payment of
the Lien Amount (the “Lien”) against the following property located within the District, to wit:
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 109
[legal description], an addition to the City of [City], [County], Texas, according to
the map or plat thereof recorded as Instrument No. ________ in the Map Records of
Collin County, Texas (the "Property");
and
WHEREAS, the Lien Amount has been paid in full.
RELEASE
NOW THEREFORE, for and in consideration of the full payment of the Lien Amount, the
City/County hereby releases and discharges, and by these presents does hereby release and discharge,
the Lien to the extent that is affects and encumbers the Property.
EXECUTED to be EFFECTIVE this the _____ day of _________, 20__.
CITY OF ANNA, TEXAS,
A Texas home rule municipality,
By: _______________________________
[Manager Name], City Manager
ATTEST:
_______________________________
[Secretary Name], City Secretary
STATE OF TEXAS §
§
COUNTY OF COLLIN §
This instrument was acknowledged before me on the ____ day of ________, 20__, by [City
Manager], City Manager for the City of Anna, Texas, a Texas home rule municipality, on behalf of
said municipality.
_______________________________
Notary Public, State of Texas
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 110
EXHIBIT N-1 – DEBT SERVICE SCHEDULE FOR THE IMPROVEMENT AREA #1
INITIAL BONDS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 111
EXHIBIT N-2 – DEBT SERVICE SCHEDULE FOR IMPROVEMENT AREA #1
ADDITIONAL BONDS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 112
EXHIBIT N-3 – DEBT SERVICE SCHEDULE FOR IMPROVEMENT AREA #2-4 BONDS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 113
EXHIBIT O-1 – DISTRICT LEGAL DESCRIPTION
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 114
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 115
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 116
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 117
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 118
EXHIBIT O-2 – IMPROVEMENT AREA #1 LEGAL DESCRIPTION
TRACT 1 (65.070 ACRES)
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE J. KINCADE SURVEY, ABSTRACT NUMBER 509, THE J. BOYLE
SURVEY, ABSTRACT NUMBER 105, THE J. ROBERTS SURVEY, ABSTRACT NUMBER 760, THE J. ELLET SURVEY,
ABSTRACT NUMBER 296, AND THE W. RATTAN SURVEY, ABSTRACT NUMBER 752, COLLIN COUNTY, TEXAS, BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED IN DEED TO MM ANNA 325, LLC TRACT 1 RECORDED IN
INSTRUMENT NUMBER 20190411000386110 OF THE OFFICIAL PUBLIC RECORDS OF COLLIN COUNTY, TEXAS
(O.P.R.C.C.T.) AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT THE MOST SOUTHERLY SOUTHWEST CORNER OF SAID TRACT OF LAND TO MM ANNA 325, LLC
BEING IN THE NORTH LINE OF THAT TRACT OF LAND DESCRIBED BY DEED TO CADG HURRICANE CREEK, LLC
RECORDED IN INSTRUMENT NUMBER 201505290000631020 OF SAID O.P.R.C.C.T.;
THENCE N 00° 42' 12" W, 287.34 FEET WITH THE COMMON LINE OF SAID CADG TRACT AND SAID MM ANNA 325
TRACT;
N 89° 17' 48" E, 110.00 FEET;
N 00° 42' 12" W, 31.43 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 302.23 FEET, THROUGH A CENTRAL ANGLE OF 32°
59' 01", HAVING A RADIUS OF 525.00 FEET, AND A LONG CHORD WHICH BEARS N 15° 47' 19" E, 298.07
FEET;
N 32° 16' 49" E, 45.65 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 7.44 FEET, THROUGH A CENTRAL ANGLE OF 00°
30' 48", HAVING A RADIUS OF 830.00 FEET, AND A LONG CHORD WHICH BEARS N 57° 58' 35" W, 7.44
FEET;
N 57° 43' 11" W, 162.85 FEET;
S 32° 16' 50" W, 605.17 FEET;
THENCE S 88° 18' 50" W, 111.81 FEET TO THE NORTH LINE OF SAID CADG TRACT;
THENCE DEPARTING SAID NORTH LINE OVER AND ACROSS SAID MM ANNA 325 TRACT THE FOLLOWING BEARINGS
AND DISTANCES:
N 45° 08' 58" W, 366.07 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 520.46 FEET, THROUGH A CENTRAL ANGLE OF 22°
45' 50", HAVING A RADIUS OF 1309.97 FEET, AND A LONG CHORD WHICH BEARS N 40° 23' 55" E, 517.04
FEET;
N 60° 58' 59" W, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 923.67 FEET, THROUGH A CENTRAL ANGLE OF 44°
28' 21", HAVING A RADIUS OF 1190.00 FEET, AND A LONG CHORD WHICH BEARS S 51° 15' 12" W, 900.66
FEET;
S 16° 30' 37" E, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 119
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 27.21 FEET, THROUGH A CENTRAL ANGLE OF 01°
11' 24", HAVING A RADIUS OF 1310.00 FEET, AND A LONG CHORD WHICH BEARS S 74° 05' 05" W, 27.21
FEET;
S 31° 32' 06" W, 43.31 FEET;
S 12° 15' 52" E, 4.77 FEET TO THE NORTH LINE OF SAID CADG TRACT;
THENCE S 89° 05' 29" W, 95.27 FEET;
THENCE DEPARTING SAID NORTH LINE OVER AND ACROSS SAID TRACT OF LAND TO MM ANNA 325, LLC THE
FOLLOWING BEARINGS AND DISTANCES:
N 56° 03' 28" W, 23.94 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 27.22 FEET, THROUGH A CENTRAL ANGLE OF 01°
11' 26", HAVING A RADIUS OF 1310.00 FEET, AND A LONG CHORD WHICH BEARS S 81° 23' 55" W, 27.22
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 08° 00' 22" W, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 147.41 FEET, THROUGH A CENTRAL ANGLE OF 07°
05' 51", HAVING A RADIUS OF 1190.00 FEET, AND A LONG CHORD WHICH BEARS S 85° 32' 34" W, 147.31
FEET;
S 89° 05' 29" W, 1,229.11 FEET;
N 45° 54' 31" W, 42.43 FEET;
N 00° 54' 31" W, 48.75 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 139.73 FEET, THROUGH A CENTRAL ANGLE OF 12°
07' 49", HAVING A RADIUS OF 660.00 FEET, AND A LONG CHORD WHICH BEARS N 05° 09' 24" E, 139.47
FEET;
N 11° 13' 18" E, 45.96 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 101.09 FEET, THROUGH A CENTRAL ANGLE OF 07°
14' 23", HAVING A RADIUS OF 800.00 FEET, AND A LONG CHORD WHICH BEARS N 14° 50' 30" E, 101.02
FEET;
N 20° 08' 12" E, 50.00 FEET;
N 21° 08' 00" E, 138.53 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 304.73 FEET, THROUGH A CENTRAL ANGLE OF 27°
42' 51", HAVING A RADIUS OF 630.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 16' 34" E, 301.77
FEET;
N 83° 25' 09" E, 130.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 32.75 FEET, THROUGH A CENTRAL ANGLE OF 02°
28' 08", HAVING A RADIUS OF 760.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 48' 55" W, 32.75
FEET;
N 80° 57' 01" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 120
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 20.00 FEET, THROUGH A CENTRAL ANGLE OF 01°
24' 53", HAVING A RADIUS OF 810.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 20' 32" E, 20.00
FEET;
N 83° 35' 40" E, 67.70 FEET;
S 87° 45' 57" E, 468.26 FEET;
S 87° 55' 48" E, 10.60 FEET;
N 01° 44' 03" E, 20.00 FEET;
S 88° 15' 57" E, 50.00 FEET;
S 01° 44' 03" W, 23.48 FEET;
N 89° 15' 16" E, 160.00 FEET;
N 84° 17' 59" E, 91.31 FEET;
N 81° 10' 42" E, 54.72 FEET;
N 75° 20' 06" E, 60.71 FEET;
N 70° 47' 30" E, 41.34 FEET;
N 66° 36' 18" E, 49.56 FEET;
N 61° 16' 50" E, 59.24 FEET;
N 56° 58' 45" E, 50.71 FEET;
N 55° 47' 22" E, 49.81 FEET;
N 58° 06' 52" E, 47.94 FEET;
N 57° 16' 20" E, 66.93 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 32.90 FEET, THROUGH A CENTRAL ANGLE OF 01°
34' 15", HAVING A RADIUS OF 1200.00 FEET, AND A LONG CHORD WHICH BEARS N 28° 47' 28" W, 32.90
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 61° 59' 39" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 45.85 FEET, THROUGH A CENTRAL ANGLE OF 02°
17' 04", HAVING A RADIUS OF 1150.00 FEET, AND A LONG CHORD WHICH BEARS S 29° 08' 53" E, 45.85
FEET;
N 59° 42' 35" E, 120.15 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 434.10 FEET, THROUGH A CENTRAL ANGLE OF 24°
08' 52", HAVING A RADIUS OF 1,030.00 FEET, AND A LONG CHORD WHICH BEARS S 42° 21' 09" E, 430.90
FEET;
S 54° 25' 35" E, 89.54 FEET;
N 24° 51' 49" E, 70.52 FEET;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 121
S 64° 05' 47" E, 100.01 FEET;
S 65° 13' 30" E, 75.00 FEET;
N 69° 45' 54" E, 42.43 FEET;
N 24° 45' 54" E, 22.77 FEET;
S 65° 14' 06" E, 120.00 FEET;
S 24° 45' 54" W, 23.65 FEET;
S 19° 10' 53" E, 43.20 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 96.46 FEET, THROUGH A CENTRAL ANGLE OF 05°
31' 37", HAVING A RADIUS OF 1000.00 FEET, AND A LONG CHORD WHICH BEARS S 59° 58' 35" E, 96.43
FEET;
N 24° 45' 54" E, 31.64 FEET;
S 58° 13' 31" E, 50.38 FEET;
S 24° 45' 54" W, 33.83 FEET;
S 55° 20' 20" E, 104.47 FEET;
S 57° 43' 11" E, 272.85 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, THROUGH 33° 03' 57", 444.37 FEET HAVING A RADIUS OF 770.00 FEET,
AND A LONG CHORD WHICH BEARS S 74° 15' 09" E, 438.23 FEET TO THE BEGINNING OF A CURVE TO THE
RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 49.91 FEET, THROUGH A CENTRAL ANGLE OF 07°
37' 35", HAVING A RADIUS OF 375.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 38' 20" E, 49.88
FEET;
S 78° 32' 52" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, THROUGH 06° 37' 24", 37.57 FEET HAVING A RADIUS OF 325.00 FEET,
AND A LONG CHORD WHICH BEARS S 08° 08' 26" W, 37.55 FEET TO THE BEGINNING OF A CURVE TO THE
LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 71.20 FEET, THROUGH A CENTRAL ANGLE OF 05°
17' 53", HAVING A RADIUS OF 770.00 FEET, AND A LONG CHORD WHICH BEARS N 82° 48' 59" E, 71.18
FEET;
N 80° 10' 03" E, 330.53 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 56.36 FEET, THROUGH A CENTRAL ANGLE OF 03°
06' 19", HAVING A RADIUS OF 1,040.00 FEET, AND A LONG CHORD WHICH BEARS N 04° 30' 13" W, 56.36
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 87° 02' 56" E, 80.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 191.58 FEET, THROUGH A CENTRAL ANGLE OF 11°
26' 03", HAVING A RADIUS OF 960.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 40' 05" E, 191.26
FEET;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 122
S 14° 23' 07" E, 121.17 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 100.60 FEET, THROUGH A CENTRAL ANGLE OF 12°
23' 42", HAVING A RADIUS OF 465.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 11' 16" E, 100.40
FEET;
S 01° 59' 25" E, 283.25 FEET;
THENCE S 89° 04' 42" W, 1264.39 FEET TO THE POINT OF BEGINNING AND CONTAINING 2,834,457 SQUARE FEET
OR 65.070 ACRES MORE OR LESS;
TRACT 2 (44.332 ACRES)
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE J. KINCADE SURVEY, ABSTRACT NUMBER 509, THE J. BOYLE
SURVEY, ABSTRACT NUMBER 105, THE J. ROBERTS SURVEY, ABSTRACT NUMBER 760, THE J. ELLET SURVEY,
ABSTRACT NUMBER 296, AND THE W. RATTAN SURVEY, ABSTRACT NUMBER 752, COLLIN COUNTY, TEXAS, BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED IN DEED TO MM ANNA 325, LLC TRACT 1 RECORDED IN
INSTRUMENT NUMBER 20190411000386110 OF THE OFFICIAL PUBLIC RECORDS OF COLLIN COUNTY, TEXAS
(O.P.R.C.C.T.) AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT THE MOST SOUTHERLY SOUTHWEST CORNER IN PLAT TO URBAN CROSSING RECORDED IN
INSTURMENT NUMBER 20131227010003710 OF THE PLAT RECORDS OF COLLIN COUNTY, TEXAS (P.R.C.C.T.) AND
BEING IN THE NORTH LINE OF SAID MM ANNA 325 TRACT;
THENCE FOLLOWING THE SOUTH LINE OF SAID URBAN CROSSING TRACT AND THE NORTH LINE OF SAID MM ANNA
325 TRACT THE FOLLOWING BEARINGS AND DISTANCES:
S 89° 47' 13" E, 602.59 FEET;
N 88° 59' 00" E, 461.54 FEET;
THENCE DEPARTING SAID COMMON LINE OVER AND ACROSS SAID MM ANNA 325 TRACT THE FOLLOWING
BEARINGS AND DISTANCES:
S 01° 10' 22" E, 231.65 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 1,023.35 FEET, THROUGH A CENTRAL ANGLE OF 31°
31' 24", HAVING A RADIUS OF 1860.00 FEET, AND A LONG CHORD WHICH BEARS S 40° 31' 36" W, 1010.49
FEET;
S 24° 45' 54" W, 220.34 FEET;
S 24° 45' 54" W, 22.77 FEET;
S 69° 45' 54" W, 42.43 FEET;
N 65° 13' 30" W, 75.00 FEET;
N 64° 05' 47" W, 100.01 FEET;
S 24° 51' 49" W, 70.52 FEET;
N 54° 25' 35" W , 89.54 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 123
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 434.10 FEET, THROUGH A CENTRAL ANGLE OF 24°
08' 52", HAVING A RADIUS OF 1030.00 FEET, AND A LONG CHORD WHICH BEARS N 42° 21' 09" W, 430.90
FEET;
S 59° 42' 35" W, 120.15 FEET TO THE BEGINNING OF A CURVFE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 45.85 FEET, THROUGH A CENTRAL ANGLE OF 02°
17' 04", HAVING A RADIUS OF 1150.00 FEET, AND A LONG CHORD WHICH BEARS N 29° 08' 53" W, 45.85
FEET;
S 61° 59' 39" W, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 32.90 FEET, THROUGH A CENTRAL ANGLE OF 01°
34' 15", HAVING A RADIUS OF 1200.00 FEET, AND A LONG CHORD WHICH BEARS S 28° 47' 28" E, 32.90
FEET;
S 57° 16' 20" W, 66.93 FEET;
S 58° 06' 52" W, 47.94 FEET;
S 55° 47' 22" W, 49.81 FEET;
S 56° 58' 45" W, 50.71 FEET;
S 61° 16' 50" W, 59.24 FEET;
S 66° 36' 18" W, 49.56 FEET;
S 70° 47' 30" W, 41.34 FEET;
S 75° 20' 06" W, 60.71 FEET;
S 81° 10' 42" W, 54.72 FEET;
S 84° 17' 59" W, 91.31 FEET;
S 89° 15' 16" W, 160.00 FEET;
N 01° 44' 03" E, 23.48 FEET;
N 01° 44' 03" E, 104.07 FEET;
S 88° 15' 57" E, 10.50 FEET;
N 01° 44' 03" E, 50.00 FEET;
N 88° 15' 57" W, 109.33 FEET;
N 01° 44' 03" E, 130.00 FEET;
N 00° 53' 08" E, 401.03 FEET;
N 68° 31' 37" E, 311.47 FEET;
N 27° 44' 36" E, 271.58 FEET;
N 78° 55' 21" E, 359.52 FEET;
N 89° 19' 48" E, 60.00 FEET;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 124
N 89° 19' 48" E, 369.75 FEET TO THE WEST LINE OF SAID URBAN CROSSING;
THENCE S 00° 05' 05" E, 5.70 FEET TO THE POINT OF BEGINNING AND CONTAINING 1,931,085 SQUARE FEET OR
44.332 ACRES MORE OR LESS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 125
EXHIBIT O-3 – IMPROVEMENT AREA #2 LEGAL DESCRIPTION
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 126
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 127
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 128
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 129
EXHIBIT O-4 – IMPROVEMENT AREA #3 LEGAL DESCRIPTION
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 130
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 131
EXHIBIT O-5 – IMPROVEMENT AREA #4 LEGAL DESCRIPTION
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 132
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 133
EXHIBIT O-6 – MAJOR IMPROVEMENT AREA LEGAL DESCRIPTION
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 134
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 135
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 136
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 137
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 138
Save and except:
TRACT 1 (65.070 ACRES)
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE J. KINCADE SURVEY, ABSTRACT NUMBER 509, THE J. BOYLE
SURVEY, ABSTRACT NUMBER 105, THE J. ROBERTS SURVEY, ABSTRACT NUMBER 760, THE J. ELLET SURVEY,
ABSTRACT NUMBER 296, AND THE W. RATTAN SURVEY, ABSTRACT NUMBER 752, COLLIN COUNTY, TEXAS, BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED IN DEED TO MM ANNA 325, LLC TRACT 1 RECORDED IN
INSTRUMENT NUMBER 20190411000386110 OF THE OFFICIAL PUBLIC RECORDS OF COLLIN COUNTY, TEXAS
(O.P.R.C.C.T.) AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT THE MOST SOUTHERLY SOUTHWEST CORNER OF SAID TRACT OF LAND TO MM ANNA 325, LLC
BEING IN THE NORTH LINE OF THAT TRACT OF LAND DESCRIBED BY DEED TO CADG HURRICANE CREEK, LLC
RECORDED IN INSTRUMENT NUMBER 201505290000631020 OF SAID O.P.R.C.C.T.;
THENCE N 00° 42' 12" W, 287.34 FEET WITH THE COMMON LINE OF SAID CADG TRACT AND SAID MM ANNA 325
TRACT;
N 89° 17' 48" E, 110.00 FEET;
N 00° 42' 12" W, 31.43 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 302.23 FEET, THROUGH A CENTRAL ANGLE OF 32°
59' 01", HAVING A RADIUS OF 525.00 FEET, AND A LONG CHORD WHICH BEARS N 15° 47' 19" E, 298.07
FEET;
N 32° 16' 49" E, 45.65 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 7.44 FEET, THROUGH A CENTRAL ANGLE OF 00°
30' 48", HAVING A RADIUS OF 830.00 FEET, AND A LONG CHORD WHICH BEARS N 57° 58' 35" W, 7.44
FEET;
N 57° 43' 11" W, 162.85 FEET;
S 32° 16' 50" W, 605.17 FEET;
THENCE S 88° 18' 50" W, 111.81 FEET TO THE NORTH LINE OF SAID CADG TRACT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 139
THENCE DEPARTING SAID NORTH LINE OVER AND ACROSS SAID MM ANNA 325 TRACT THE FOLLOWING BEARINGS
AND DISTANCES:
N 45° 08' 58" W, 366.07 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 520.46 FEET, THROUGH A CENTRAL ANGLE OF 22°
45' 50", HAVING A RADIUS OF 1309.97 FEET, AND A LONG CHORD WHICH BEARS N 40° 23' 55" E, 517.04
FEET;
N 60° 58' 59" W, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 923.67 FEET, THROUGH A CENTRAL ANGLE OF 44°
28' 21", HAVING A RADIUS OF 1190.00 FEET, AND A LONG CHORD WHICH BEARS S 51° 15' 12" W, 900.66
FEET;
S 16° 30' 37" E, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 27.21 FEET, THROUGH A CENTRAL ANGLE OF 01°
11' 24", HAVING A RADIUS OF 1310.00 FEET, AND A LONG CHORD WHICH BEARS S 74° 05' 05" W, 27.21
FEET;
S 31° 32' 06" W, 43.31 FEET;
S 12° 15' 52" E, 4.77 FEET TO THE NORTH LINE OF SAID CADG TRACT;
THENCE S 89° 05' 29" W, 95.27 FEET;
THENCE DEPARTING SAID NORTH LINE OVER AND ACROSS SAID TRACT OF LAND TO MM ANNA 325, LLC THE
FOLLOWING BEARINGS AND DISTANCES:
N 56° 03' 28" W, 23.94 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 27.22 FEET, THROUGH A CENTRAL ANGLE OF 01°
11' 26", HAVING A RADIUS OF 1310.00 FEET, AND A LONG CHORD WHICH BEARS S 81° 23' 55" W, 27.22
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 08° 00' 22" W, 120.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 147.41 FEET, THROUGH A CENTRAL ANGLE OF 07°
05' 51", HAVING A RADIUS OF 1190.00 FEET, AND A LONG CHORD WHICH BEARS S 85° 32' 34" W, 147.31
FEET;
S 89° 05' 29" W, 1,229.11 FEET;
N 45° 54' 31" W, 42.43 FEET;
N 00° 54' 31" W, 48.75 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 139.73 FEET, THROUGH A CENTRAL ANGLE OF 12°
07' 49", HAVING A RADIUS OF 660.00 FEET, AND A LONG CHORD WHICH BEARS N 05° 09' 24" E, 139.47
FEET;
N 11° 13' 18" E, 45.96 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 140
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 101.09 FEET, THROUGH A CENTRAL ANGLE OF 07°
14' 23", HAVING A RADIUS OF 800.00 FEET, AND A LONG CHORD WHICH BEARS N 14° 50' 30" E, 101.02
FEET;
N 20° 08' 12" E, 50.00 FEET;
N 21° 08' 00" E, 138.53 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 304.73 FEET, THROUGH A CENTRAL ANGLE OF 27°
42' 51", HAVING A RADIUS OF 630.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 16' 34" E, 301.77
FEET;
N 83° 25' 09" E, 130.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 32.75 FEET, THROUGH A CENTRAL ANGLE OF 02°
28' 08", HAVING A RADIUS OF 760.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 48' 55" W, 32.75
FEET;
N 80° 57' 01" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 20.00 FEET, THROUGH A CENTRAL ANGLE OF 01°
24' 53", HAVING A RADIUS OF 810.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 20' 32" E, 20.00
FEET;
N 83° 35' 40" E, 67.70 FEET;
S 87° 45' 57" E, 468.26 FEET;
S 87° 55' 48" E, 10.60 FEET;
N 01° 44' 03" E, 20.00 FEET;
S 88° 15' 57" E, 50.00 FEET;
S 01° 44' 03" W, 23.48 FEET;
N 89° 15' 16" E, 160.00 FEET;
N 84° 17' 59" E, 91.31 FEET;
N 81° 10' 42" E, 54.72 FEET;
N 75° 20' 06" E, 60.71 FEET;
N 70° 47' 30" E, 41.34 FEET;
N 66° 36' 18" E, 49.56 FEET;
N 61° 16' 50" E, 59.24 FEET;
N 56° 58' 45" E, 50.71 FEET;
N 55° 47' 22" E, 49.81 FEET;
N 58° 06' 52" E, 47.94 FEET;
N 57° 16' 20" E, 66.93 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 141
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 32.90 FEET, THROUGH A CENTRAL ANGLE OF 01°
34' 15", HAVING A RADIUS OF 1200.00 FEET, AND A LONG CHORD WHICH BEARS N 28° 47' 28" W, 32.90
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 61° 59' 39" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 45.85 FEET, THROUGH A CENTRAL ANGLE OF 02°
17' 04", HAVING A RADIUS OF 1150.00 FEET, AND A LONG CHORD WHICH BEARS S 29° 08' 53" E, 45.85
FEET;
N 59° 42' 35" E, 120.15 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 434.10 FEET, THROUGH A CENTRAL ANGLE OF 24°
08' 52", HAVING A RADIUS OF 1,030.00 FEET, AND A LONG CHORD WHICH BEARS S 42° 21' 09" E, 430.90
FEET;
S 54° 25' 35" E, 89.54 FEET;
N 24° 51' 49" E, 70.52 FEET;
S 64° 05' 47" E, 100.01 FEET;
S 65° 13' 30" E, 75.00 FEET;
N 69° 45' 54" E, 42.43 FEET;
N 24° 45' 54" E, 22.77 FEET;
S 65° 14' 06" E, 120.00 FEET;
S 24° 45' 54" W, 23.65 FEET;
S 19° 10' 53" E, 43.20 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 96.46 FEET, THROUGH A CENTRAL ANGLE OF 05°
31' 37", HAVING A RADIUS OF 1000.00 FEET, AND A LONG CHORD WHICH BEARS S 59° 58' 35" E, 96.43
FEET;
N 24° 45' 54" E, 31.64 FEET;
S 58° 13' 31" E, 50.38 FEET;
S 24° 45' 54" W, 33.83 FEET;
S 55° 20' 20" E, 104.47 FEET;
S 57° 43' 11" E, 272.85 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, THROUGH 33° 03' 57", 444.37 FEET HAVING A RADIUS OF 770.00 FEET,
AND A LONG CHORD WHICH BEARS S 74° 15' 09" E, 438.23 FEET TO THE BEGINNING OF A CURVE TO THE
RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 49.91 FEET, THROUGH A CENTRAL ANGLE OF 07°
37' 35", HAVING A RADIUS OF 375.00 FEET, AND A LONG CHORD WHICH BEARS N 07° 38' 20" E, 49.88
FEET;
S 78° 32' 52" E, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 142
WITH SAID CURVE TO THE LEFT, THROUGH 06° 37' 24", 37.57 FEET HAVING A RADIUS OF 325.00 FEET,
AND A LONG CHORD WHICH BEARS S 08° 08' 26" W, 37.55 FEET TO THE BEGINNING OF A CURVE TO THE
LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 71.20 FEET, THROUGH A CENTRAL ANGLE OF 05°
17' 53", HAVING A RADIUS OF 770.00 FEET, AND A LONG CHORD WHICH BEARS N 82° 48' 59" E, 71.18
FEET;
N 80° 10' 03" E, 330.53 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 56.36 FEET, THROUGH A CENTRAL ANGLE OF 03°
06' 19", HAVING A RADIUS OF 1,040.00 FEET, AND A LONG CHORD WHICH BEARS N 04° 30' 13" W, 56.36
FEET TO A POINT OF INTERSECTION WITH A NON-TANGENTIAL LINE.
N 87° 02' 56" E, 80.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 191.58 FEET, THROUGH A CENTRAL ANGLE OF 11°
26' 03", HAVING A RADIUS OF 960.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 40' 05" E, 191.26
FEET;
S 14° 23' 07" E, 121.17 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 100.60 FEET, THROUGH A CENTRAL ANGLE OF 12°
23' 42", HAVING A RADIUS OF 465.00 FEET, AND A LONG CHORD WHICH BEARS S 08° 11' 16" E, 100.40
FEET;
S 01° 59' 25" E, 283.25 FEET;
THENCE S 89° 04' 42" W, 1264.39 FEET TO THE POINT OF BEGINNING AND CONTAINING 2,834,457 SQUARE FEET
OR 65.070 ACRES MORE OR LESS;
TRACT 2 (44.332 ACRES)
BEING THAT CERTAIN TRACT OF LAND SITUATED IN THE J. KINCADE SURVEY, ABSTRACT NUMBER 509, THE J. BOYLE
SURVEY, ABSTRACT NUMBER 105, THE J. ROBERTS SURVEY, ABSTRACT NUMBER 760, THE J. ELLET SURVEY,
ABSTRACT NUMBER 296, AND THE W. RATTAN SURVEY, ABSTRACT NUMBER 752, COLLIN COUNTY, TEXAS, BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED IN DEED TO MM ANNA 325, LLC TRACT 1 RECORDED IN
INSTRUMENT NUMBER 20190411000386110 OF THE OFFICIAL PUBLIC RECORDS OF COLLIN COUNTY, TEXAS
(O.P.R.C.C.T.) AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT THE MOST SOUTHERLY SOUTHWEST CORNER IN PLAT TO URBAN CROSSING RECORDED IN
INSTURMENT NUMBER 20131227010003710 OF THE PLAT RECORDS OF COLLIN COUNTY, TEXAS (P.R.C.C.T.) AND
BEING IN THE NORTH LINE OF SAID MM ANNA 325 TRACT;
THENCE FOLLOWING THE SOUTH LINE OF SAID URBAN CROSSING TRACT AND THE NORTH LINE OF SAID MM ANNA
325 TRACT THE FOLLOWING BEARINGS AND DISTANCES:
S 89° 47' 13" E, 602.59 FEET;
N 88° 59' 00" E, 461.54 FEET;
THENCE DEPARTING SAID COMMON LINE OVER AND ACROSS SAID MM ANNA 325 TRACT THE FOLLOWING
BEARINGS AND DISTANCES:
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 143
S 01° 10' 22" E, 231.65 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 1,023.35 FEET, THROUGH A CENTRAL ANGLE OF 31°
31' 24", HAVING A RADIUS OF 1860.00 FEET, AND A LONG CHORD WHICH BEARS S 40° 31' 36" W, 1010.49
FEET;
S 24° 45' 54" W, 220.34 FEET;
S 24° 45' 54" W, 22.77 FEET;
S 69° 45' 54" W, 42.43 FEET;
N 65° 13' 30" W, 75.00 FEET;
N 64° 05' 47" W, 100.01 FEET;
S 24° 51' 49" W, 70.52 FEET;
N 54° 25' 35" W , 89.54 FEET TO THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 434.10 FEET, THROUGH A CENTRAL ANGLE OF 24°
08' 52", HAVING A RADIUS OF 1030.00 FEET, AND A LONG CHORD WHICH BEARS N 42° 21' 09" W, 430.90
FEET;
S 59° 42' 35" W, 120.15 FEET TO THE BEGINNING OF A CURVFE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 45.85 FEET, THROUGH A CENTRAL ANGLE OF 02°
17' 04", HAVING A RADIUS OF 1150.00 FEET, AND A LONG CHORD WHICH BEARS N 29° 08' 53" W, 45.85
FEET;
S 61° 59' 39" W, 50.00 FEET TO THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 32.90 FEET, THROUGH A CENTRAL ANGLE OF 01°
34' 15", HAVING A RADIUS OF 1200.00 FEET, AND A LONG CHORD WHICH BEARS S 28° 47' 28" E, 32.90
FEET;
S 57° 16' 20" W, 66.93 FEET;
S 58° 06' 52" W, 47.94 FEET;
S 55° 47' 22" W, 49.81 FEET;
S 56° 58' 45" W, 50.71 FEET;
S 61° 16' 50" W, 59.24 FEET;
S 66° 36' 18" W, 49.56 FEET;
S 70° 47' 30" W, 41.34 FEET;
S 75° 20' 06" W, 60.71 FEET;
S 81° 10' 42" W, 54.72 FEET;
S 84° 17' 59" W, 91.31 FEET;
S 89° 15' 16" W, 160.00 FEET;
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 144
N 01° 44' 03" E, 23.48 FEET;
N 01° 44' 03" E, 104.07 FEET;
S 88° 15' 57" E, 10.50 FEET;
N 01° 44' 03" E, 50.00 FEET;
N 88° 15' 57" W, 109.33 FEET;
N 01° 44' 03" E, 130.00 FEET;
N 00° 53' 08" E, 401.03 FEET;
N 68° 31' 37" E, 311.47 FEET;
N 27° 44' 36" E, 271.58 FEET;
N 78° 55' 21" E, 359.52 FEET;
N 89° 19' 48" E, 60.00 FEET;
N 89° 19' 48" E, 369.75 FEET TO THE WEST LINE OF SAID URBAN CROSSING;
THENCE S 00° 05' 05" E, 5.70 FEET TO THE POINT OF BEGINNING AND CONTAINING 1,931,085 SQUARE FEET OR
44.332 ACRES MORE OR LESS
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 145
APPENDIX A – ENGINEER’S REPORT
[Remainder of page left intentionally blank.]
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 146
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 147
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 148
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 149
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 150
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 151
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 152
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 153
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 154
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 155
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 156
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 157
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 158
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 159
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 160
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 161
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 162
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 163
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 164
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2
2026 AMENDED AND RESTATED SERVICE AND ASSESSMENT PLAN 165
APPENDIX B – BUYER DISCLOSURES
Forms of the buyer disclosures for the following Lot Types are found in this appendix:
Improvement Area #1
Lot Type 1
Lot Type 2
Lot Type 3
Lot Type 4
Improvement Area #2
Improvement Area #2 Initial Parcel
Lot Type 5
Lot Type 6
Improvement Area #3
Improvement Area #3 Initial Parcel
Lot Type 7
Improvement Area #4
Improvement Area #4 Initial Parcel
Lot Type 8
Major Improvement Area
Major Improvement Area Initial Parcel
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #1
LOT TYPE 1 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LOT TYPE 1 PRINCIPAL ASSESSMENT: $22,173.24
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Principal Interest[b]
2027 371.62$ 645.91$ 125.69$ 351.79$ 110.87$ 100.34$ 1,706.22$
2028 386.19$ 631.98$ 131.16$ 346.13$ 108.38$ 118.14$ 1,721.98$
2029 400.77$ 617.50$ 138.45$ 340.23$ 105.79$ 120.50$ 1,723.23$
2030 415.34$ 602.47$ 143.91$ 334.00$ 103.10$ 122.91$ 1,721.73$
2031 431.73$ 586.89$ 151.20$ 327.53$ 100.30$ 125.37$ 1,723.02$
2032 449.95$ 570.70$ 160.31$ 320.72$ 97.39$ 127.88$ 1,726.94$
2033 468.17$ 552.71$ 167.59$ 313.51$ 94.33$ 130.43$ 1,726.74$
2034 488.20$ 533.98$ 174.88$ 305.97$ 91.16$ 133.04$ 1,727.23$
2035 508.24$ 514.45$ 183.99$ 298.10$ 87.84$ 135.70$ 1,728.32$
2036 528.28$ 494.12$ 193.10$ 289.82$ 84.38$ 138.42$ 1,728.11$
2037 550.14$ 472.99$ 205.85$ 278.96$ 80.77$ 141.18$ 1,729.89$
2038 573.82$ 450.98$ 218.60$ 267.38$ 76.99$ 144.01$ 1,731.78$
2039 597.50$ 428.03$ 231.35$ 255.08$ 73.03$ 146.89$ 1,731.88$
2040 623.01$ 404.13$ 245.92$ 242.07$ 68.89$ 149.83$ 1,733.84$
2041 648.51$ 379.21$ 260.50$ 228.23$ 64.54$ 152.82$ 1,733.82$
2042 677.66$ 353.27$ 276.89$ 213.58$ 60.00$ 155.88$ 1,737.28$
2043 706.80$ 324.47$ 293.29$ 198.01$ 55.22$ 159.00$ 1,736.79$
2044 737.77$ 294.43$ 311.50$ 181.51$ 50.22$ 162.18$ 1,737.61$
2045 772.38$ 263.07$ 331.54$ 163.99$ 44.98$ 165.42$ 1,741.38$
2046 807.00$ 230.25$ 351.58$ 145.34$ 39.46$ 168.73$ 1,742.35$
2047 843.43$ 195.95$ 373.44$ 124.68$ 33.66$ 172.10$ 1,743.27$
2048 879.86$ 160.11$ 397.12$ 102.74$ 27.58$ 175.55$ 1,742.96$
2049 919.94$ 122.71$ 422.63$ 79.41$ 21.20$ 179.06$ 1,744.94$
2050 961.84$ 83.61$ 449.95$ 54.58$ 14.48$ 182.64$ 1,747.10$
2051 1,005.56$ 42.74$ 479.10$ 28.15$ 7.42$ 186.29$ 1,749.25$
Total 15,753.71$ 9,956.67$ 6,419.53$ 5,791.48$ 1,701.98$ 3,694.28$ 43,317.64$
Notes:
[a] Interest on the Improvement Area #1 Initial Bonds is calculated at 3.250%, 3.750%, 4.000%, and 4.250% rate
for term bonds due 2026, 2031, 2041, and 2051 respectively.
[b] Interest on the Improvement Area #1 Additional Bonds is calculated at 4.500%, 5.625%, and 5.875% rate for
term bonds due 2035, 2045, and 2051 respectively.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in
Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or
decrease the amounts shown.
Total
Additional
Interest
Annual
Installment
Due 1/31
Total
Installment
Due[c]
Annual
Collection
Costs
Improvement Area #1
Additional Bonds
Improvement Area #1
Initial Bonds
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 1
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #1
LOT TYPE 2 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LOT TYPE 2 PRINCIPAL ASSESSMENT: $25,291.35
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Principal Interest[b]
2027 423.88$ 736.75$ 143.37$ 401.26$ 126.46$ 114.45$ 1,946.16$
2028 440.50$ 720.85$ 149.60$ 394.81$ 123.62$ 134.75$ 1,964.13$
2029 457.12$ 704.33$ 157.92$ 388.08$ 120.67$ 137.44$ 1,965.56$
2030 473.75$ 687.19$ 164.15$ 380.97$ 117.59$ 140.19$ 1,963.84$
2031 492.45$ 669.43$ 172.46$ 373.58$ 114.41$ 143.00$ 1,965.32$
2032 513.22$ 650.96$ 182.85$ 365.82$ 111.08$ 145.86$ 1,969.79$
2033 534.00$ 630.43$ 191.16$ 357.59$ 107.60$ 148.77$ 1,969.56$
2034 556.86$ 609.07$ 199.47$ 348.99$ 103.97$ 151.75$ 1,970.12$
2035 579.71$ 586.79$ 209.86$ 340.02$ 100.19$ 154.79$ 1,971.36$
2036 602.57$ 563.61$ 220.25$ 330.57$ 96.25$ 157.88$ 1,971.13$
2037 627.50$ 539.50$ 234.79$ 318.18$ 92.13$ 161.04$ 1,973.16$
2038 654.52$ 514.40$ 249.34$ 304.98$ 87.82$ 164.26$ 1,975.31$
2039 681.53$ 488.22$ 263.88$ 290.95$ 83.30$ 167.54$ 1,975.43$
2040 710.62$ 460.96$ 280.51$ 276.11$ 78.57$ 170.90$ 1,977.66$
2041 739.71$ 432.54$ 297.13$ 260.33$ 73.62$ 174.31$ 1,977.63$
2042 772.95$ 402.95$ 315.83$ 243.62$ 68.43$ 177.80$ 1,981.58$
2043 806.20$ 370.10$ 334.53$ 225.85$ 62.99$ 181.36$ 1,981.02$
2044 841.52$ 335.83$ 355.31$ 207.03$ 57.29$ 184.98$ 1,981.97$
2045 881.00$ 300.07$ 378.17$ 187.05$ 51.30$ 188.68$ 1,986.27$
2046 920.48$ 262.63$ 401.02$ 165.77$ 45.01$ 192.46$ 1,987.36$
2047 962.04$ 223.51$ 425.96$ 142.21$ 38.40$ 196.31$ 1,988.42$
2048 1,003.59$ 182.62$ 452.97$ 117.19$ 31.46$ 200.23$ 1,988.06$
2049 1,049.30$ 139.97$ 482.06$ 90.58$ 24.18$ 204.24$ 1,990.32$
2050 1,097.09$ 95.37$ 513.22$ 62.26$ 16.52$ 208.32$ 1,992.79$
2051 1,146.96$ 48.75$ 546.47$ 32.11$ 8.47$ 212.49$ 1,995.24$
Total 17,969.08$ 11,356.82$ 7,322.27$ 6,605.91$ 1,941.32$ 4,213.79$ 49,409.19$
Notes:
[a] Interest on the Improvement Area #1 Initial Bonds is calculated at 3.250%, 3.750%, 4.000%, and 4.250%
rate for term bonds due 2026, 2031, 2041, and 2051 respectively.
[b] Interest on the Improvement Area #1 Additional Bonds is calculated at 4.500%, 5.625%, and 5.875% rate
for term bonds due 2035, 2045, and 2051 respectively.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Collection Costs, reserve fund requirements, interest earnings, or other available offsets could
increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Annual
Collection
Costs
Total
Installment
Due[c]
Improvement Area #1
Initial Bonds
Improvement Area #1
Additional Bonds
Total
Additional
Interest
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 2
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #1
LOT TYPE 3 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LOT TYPE 3 PRINCIPAL ASSESSMENT: $30,349.62
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Principal Interest[b]
2027 508.65$ 884.10$ 172.04$ 481.51$ 151.75$ 137.34$ 2,335.39$
2028 528.60$ 865.02$ 179.52$ 473.77$ 148.34$ 161.70$ 2,356.96$
2029 548.55$ 845.20$ 189.50$ 465.69$ 144.80$ 164.93$ 2,358.67$
2030 568.49$ 824.63$ 196.98$ 457.16$ 141.11$ 168.23$ 2,356.61$
2031 590.93$ 803.31$ 206.95$ 448.30$ 137.29$ 171.60$ 2,358.38$
2032 615.87$ 781.15$ 219.42$ 438.99$ 133.30$ 175.03$ 2,363.75$
2033 640.80$ 756.52$ 229.39$ 429.11$ 129.12$ 178.53$ 2,363.47$
2034 668.23$ 730.88$ 239.37$ 418.79$ 124.77$ 182.10$ 2,364.14$
2035 695.66$ 704.15$ 251.83$ 408.02$ 120.23$ 185.74$ 2,365.64$
2036 723.08$ 676.33$ 264.30$ 396.69$ 115.49$ 189.46$ 2,365.35$
2037 753.01$ 647.40$ 281.75$ 381.82$ 110.56$ 193.25$ 2,367.79$
2038 785.42$ 617.28$ 299.21$ 365.97$ 105.38$ 197.11$ 2,370.38$
2039 817.83$ 585.87$ 316.66$ 349.14$ 99.96$ 201.05$ 2,370.52$
2040 852.74$ 553.15$ 336.61$ 331.33$ 94.29$ 205.07$ 2,373.19$
2041 887.65$ 519.04$ 356.56$ 312.39$ 88.34$ 209.18$ 2,373.16$
2042 927.54$ 483.54$ 379.00$ 292.34$ 82.12$ 213.36$ 2,377.90$
2043 967.44$ 444.12$ 401.44$ 271.02$ 75.59$ 217.63$ 2,377.23$
2044 1,009.83$ 403.00$ 426.37$ 248.44$ 68.74$ 221.98$ 2,378.36$
2045 1,057.20$ 360.08$ 453.80$ 224.46$ 61.56$ 226.42$ 2,383.52$
2046 1,104.57$ 315.15$ 481.23$ 198.93$ 54.01$ 230.95$ 2,384.84$
2047 1,154.44$ 268.21$ 511.15$ 170.66$ 46.08$ 235.57$ 2,386.10$
2048 1,204.31$ 219.14$ 543.56$ 140.63$ 37.75$ 240.28$ 2,385.67$
2049 1,259.17$ 167.96$ 578.47$ 108.69$ 29.01$ 245.08$ 2,388.38$
2050 1,316.51$ 114.45$ 615.87$ 74.71$ 19.82$ 249.98$ 2,391.34$
2051 1,376.35$ 58.50$ 655.76$ 38.53$ 10.16$ 254.98$ 2,394.28$
Total 21,562.89$ 13,628.19$ 8,786.73$ 7,927.09$ 2,329.58$ 5,056.55$ 59,291.02$
Notes:
[a] Interest on the Improvement Area #1 Initial Bonds is calculated at 3.250%, 3.750%, 4.000%, and 4.250%
rate for term bonds due 2026, 2031, 2041, and 2051 respectively.
[b] Interest on the Improvement Area #1 Additional Bonds is calculated at 4.500%, 5.625%, and 5.875% rate
for term bonds due 2035, 2045, and 2051 respectively.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Collection Costs, reserve fund requirements, interest earnings, or other available offsets could
increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Annual
Collection
Costs
Total
Additional
Interest
Total
Installment
Due[c]
Improvement Area #1
Additional Bonds
Improvement Area #1
Initial Bonds
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 3
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #1
LOT TYPE 4 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #1 LOT TYPE 4 PRINCIPAL ASSESSMENT: $20,787.41
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Principal Interest[b]
2027 348.39$ 605.55$ 117.84$ 329.80$ 103.94$ 94.07$ 1,599.58$
2028 362.05$ 592.48$ 122.96$ 324.50$ 101.61$ 110.75$ 1,614.36$
2029 375.72$ 578.90$ 129.79$ 318.97$ 99.18$ 112.97$ 1,615.53$
2030 389.38$ 564.81$ 134.92$ 313.13$ 96.65$ 115.23$ 1,614.12$
2031 404.75$ 550.21$ 141.75$ 307.05$ 94.03$ 117.53$ 1,615.33$
2032 421.83$ 535.03$ 150.29$ 300.68$ 91.30$ 119.88$ 1,619.01$
2033 438.91$ 518.16$ 157.12$ 293.91$ 88.44$ 122.28$ 1,618.82$
2034 457.69$ 500.60$ 163.95$ 286.84$ 85.46$ 124.73$ 1,619.27$
2035 476.48$ 482.30$ 172.49$ 279.47$ 82.35$ 127.22$ 1,620.30$
2036 495.26$ 463.24$ 181.03$ 271.70$ 79.11$ 129.77$ 1,620.10$
2037 515.76$ 443.43$ 192.98$ 261.52$ 75.72$ 132.36$ 1,621.77$
2038 537.96$ 422.80$ 204.94$ 250.67$ 72.18$ 135.01$ 1,623.55$
2039 560.16$ 401.28$ 216.89$ 239.14$ 68.47$ 137.71$ 1,623.64$
2040 584.07$ 378.87$ 230.55$ 226.94$ 64.58$ 140.46$ 1,625.48$
2041 607.98$ 355.51$ 244.22$ 213.97$ 60.51$ 143.27$ 1,625.45$
2042 635.30$ 331.19$ 259.59$ 200.23$ 56.25$ 146.14$ 1,628.70$
2043 662.63$ 304.19$ 274.96$ 185.63$ 51.77$ 149.06$ 1,628.24$
2044 691.66$ 276.03$ 292.03$ 170.16$ 47.08$ 152.04$ 1,629.01$
2045 724.11$ 246.63$ 310.82$ 153.74$ 42.17$ 155.08$ 1,632.55$
2046 756.56$ 215.86$ 329.61$ 136.25$ 36.99$ 158.18$ 1,633.45$
2047 790.71$ 183.70$ 350.10$ 116.89$ 31.56$ 161.35$ 1,634.31$
2048 824.87$ 150.10$ 372.30$ 96.32$ 25.86$ 164.57$ 1,634.02$
2049 862.44$ 115.04$ 396.21$ 74.45$ 19.87$ 167.87$ 1,635.88$
2050 901.72$ 78.39$ 421.83$ 51.17$ 13.58$ 171.22$ 1,637.91$
2051 942.71$ 40.07$ 449.15$ 26.39$ 6.96$ 174.65$ 1,639.92$
Total 14,769.10$ 9,334.38$ 6,018.31$ 5,429.51$ 1,595.60$ 3,463.39$ 40,610.29$
Notes:
[a] Interest on the Improvement Area #1 Initial Bonds is calculated at 3.250%, 3.750%, 4.000%, and 4.250%
rate for term bonds due 2026, 2031, 2041, and 2051 respectively.
[b] Interest on the Improvement Area #1 Additional Bonds is calculated at 4.500%, 5.625%, and 5.875% rate
for term bonds due 2035, 2045, and 2051 respectively.
[c] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Collection Costs, reserve fund requirements, interest earnings, or other available offsets could
increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Annual
Collection
Costs
Total
Installment
Due[c]
Improvement Area #1
Additional Bonds
Total
Additional
Interest
Improvement Area #1
Initial Bonds
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #1 LOT TYPE 4
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #2
INITIAL PARCEL BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 INITIAL PARCEL PRINCIPAL ASSESSMENT:
$3,845,000.00
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
2027 16,000.00$ 266,102.42$ 19,225.00$ 40,000.00$ 341,327.42$
2028 65,000.00$ 215,995.00$ 19,145.00$ 40,800.00$ 340,940.00$
2029 67,000.00$ 212,988.76$ 18,820.00$ 41,616.00$ 340,424.76$
2030 70,000.00$ 209,890.00$ 18,485.00$ 42,448.32$ 340,823.32$
2031 73,000.00$ 206,652.50$ 18,135.00$ 43,297.29$ 341,084.79$
2032 75,000.00$ 203,276.26$ 17,770.00$ 44,163.24$ 340,209.50$
2033 78,000.00$ 199,807.50$ 17,395.00$ 45,046.50$ 340,249.00$
2034 82,000.00$ 196,200.00$ 17,005.00$ 45,947.43$ 341,152.43$
2035 85,000.00$ 192,407.50$ 16,595.00$ 46,866.38$ 340,868.88$
2036 88,000.00$ 188,476.26$ 16,170.00$ 47,803.71$ 340,449.97$
2037 92,000.00$ 184,406.26$ 15,730.00$ 48,759.78$ 340,896.04$
2038 96,000.00$ 179,231.26$ 15,270.00$ 49,734.98$ 340,236.24$
2039 101,000.00$ 173,831.26$ 14,790.00$ 50,729.68$ 340,350.94$
2040 106,000.00$ 168,150.00$ 14,285.00$ 51,744.27$ 340,179.27$
2041 112,000.00$ 162,187.50$ 13,755.00$ 52,779.16$ 340,721.66$
2042 118,000.00$ 155,887.50$ 13,195.00$ 53,834.74$ 340,917.24$
2043 124,000.00$ 149,250.00$ 12,605.00$ 54,911.43$ 340,766.43$
2044 130,000.00$ 142,275.00$ 11,985.00$ 56,009.66$ 340,269.66$
2045 137,000.00$ 134,962.50$ 11,335.00$ 57,129.85$ 340,427.35$
2046 145,000.00$ 127,256.26$ 10,650.00$ 58,272.45$ 341,178.71$
2047 152,000.00$ 119,100.00$ 9,925.00$ 59,437.90$ 340,462.90$
2048 161,000.00$ 109,980.00$ 9,165.00$ 60,626.66$ 340,771.66$
2049 170,000.00$ 100,320.00$ 8,360.00$ 61,839.19$ 340,519.19$
2050 180,000.00$ 90,120.00$ 7,510.00$ 63,075.97$ 340,705.97$
2051 190,000.00$ 79,320.00$ 6,610.00$ 64,337.49$ 340,267.49$
2052 201,000.00$ 67,920.00$ 5,660.00$ 65,624.24$ 340,204.24$
2053 213,000.00$ 55,860.00$ 4,655.00$ 66,936.72$ 340,451.72$
2054 226,000.00$ 43,080.00$ 3,590.00$ 68,275.45$ 340,945.45$
2055 239,000.00$ 29,520.00$ 2,460.00$ 69,640.96$ 340,620.96$
2056 253,000.00$ 15,180.00$ 1,265.00$ 71,033.78$ 340,478.78$
Total 3,845,000.00$ 4,379,633.74$ 371,545.00$ 1,622,723.23$ 10,218,901.97$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing 2036, 5.625% for
bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Collection Costs, reserve fund requirements, interest earnings, or other available offsets
could increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #2 INITIAL PARCEL
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #2
LOT TYPE 5 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 LOT TYPE 5 PRINCIPAL ASSESSMENT: $47,469.14
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
2027 197.53$ 3,285.22$ 237.35$ 493.83$ 4,213.92$
2028 802.47$ 2,666.60$ 236.36$ 503.70$ 4,209.14$
2029 827.16$ 2,629.49$ 232.35$ 513.78$ 4,202.77$
2030 864.20$ 2,591.23$ 228.21$ 524.05$ 4,207.70$
2031 901.23$ 2,551.27$ 223.89$ 534.53$ 4,210.92$
2032 925.93$ 2,509.58$ 219.38$ 545.23$ 4,200.12$
2033 962.96$ 2,466.76$ 214.75$ 556.13$ 4,200.60$
2034 1,012.35$ 2,422.22$ 209.94$ 567.25$ 4,211.76$
2035 1,049.38$ 2,375.40$ 204.88$ 578.60$ 4,208.26$
2036 1,086.42$ 2,326.87$ 199.63$ 590.17$ 4,203.09$
2037 1,135.80$ 2,276.62$ 194.20$ 601.97$ 4,208.59$
2038 1,185.19$ 2,212.73$ 188.52$ 614.01$ 4,200.45$
2039 1,246.91$ 2,146.06$ 182.59$ 626.29$ 4,201.86$
2040 1,308.64$ 2,075.93$ 176.36$ 638.82$ 4,199.74$
2041 1,382.72$ 2,002.31$ 169.81$ 651.59$ 4,206.44$
2042 1,456.79$ 1,924.54$ 162.90$ 664.63$ 4,208.85$
2043 1,530.86$ 1,842.59$ 155.62$ 677.92$ 4,206.99$
2044 1,604.94$ 1,756.48$ 147.96$ 691.48$ 4,200.86$
2045 1,691.36$ 1,666.20$ 139.94$ 705.31$ 4,202.81$
2046 1,790.12$ 1,571.06$ 131.48$ 719.41$ 4,212.08$
2047 1,876.54$ 1,470.37$ 122.53$ 733.80$ 4,203.25$
2048 1,987.65$ 1,357.78$ 113.15$ 748.48$ 4,207.06$
2049 2,098.77$ 1,238.52$ 103.21$ 763.45$ 4,203.94$
2050 2,222.22$ 1,112.59$ 92.72$ 778.72$ 4,206.25$
2051 2,345.68$ 979.26$ 81.60$ 794.29$ 4,200.83$
2052 2,481.48$ 838.52$ 69.88$ 810.18$ 4,200.05$
2053 2,629.63$ 689.63$ 57.47$ 826.38$ 4,203.11$
2054 2,790.12$ 531.85$ 44.32$ 842.91$ 4,209.20$
2055 2,950.62$ 364.44$ 30.37$ 859.76$ 4,205.20$
2056 3,123.46$ 187.41$ 15.62$ 876.96$ 4,203.44$
Total 47,469.14$ 54,069.55$ 4,586.98$ 20,033.62$ 126,159.28$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing
2036, 5.625% for bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual
Service Plan Updates. Changes in Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts
shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total
Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #2 LOT TYPE 5
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #2
LOT TYPE 6 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #2 LOT TYPE 6 PRINCIPAL ASSESSMENT: $58,017.83
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
2027 241.43$ 4,015.26$ 290.09$ 603.57$ 5,150.35$
2028 980.80$ 3,259.18$ 288.88$ 615.64$ 5,144.50$
2029 1,010.97$ 3,213.82$ 283.98$ 627.95$ 5,136.72$
2030 1,056.24$ 3,167.06$ 278.92$ 640.51$ 5,142.74$
2031 1,101.51$ 3,118.21$ 273.64$ 653.32$ 5,146.68$
2032 1,131.69$ 3,067.27$ 268.13$ 666.39$ 5,133.48$
2033 1,176.95$ 3,014.93$ 262.48$ 679.71$ 5,134.07$
2034 1,237.31$ 2,960.49$ 256.59$ 693.31$ 5,147.70$
2035 1,282.58$ 2,903.27$ 250.40$ 707.17$ 5,143.43$
2036 1,327.85$ 2,843.95$ 243.99$ 721.32$ 5,137.11$
2037 1,388.20$ 2,782.54$ 237.35$ 735.74$ 5,143.84$
2038 1,448.56$ 2,704.45$ 230.41$ 750.46$ 5,133.88$
2039 1,524.01$ 2,622.97$ 223.17$ 765.47$ 5,135.61$
2040 1,599.45$ 2,537.24$ 215.55$ 780.78$ 5,133.02$
2041 1,689.99$ 2,447.27$ 207.55$ 796.39$ 5,141.20$
2042 1,780.52$ 2,352.21$ 199.10$ 812.32$ 5,144.16$
2043 1,871.06$ 2,252.06$ 190.20$ 828.57$ 5,141.88$
2044 1,961.59$ 2,146.81$ 180.84$ 845.14$ 5,134.38$
2045 2,067.22$ 2,036.47$ 171.04$ 862.04$ 5,136.76$
2046 2,187.93$ 1,920.19$ 160.70$ 879.28$ 5,148.10$
2047 2,293.55$ 1,797.12$ 149.76$ 896.87$ 5,137.30$
2048 2,429.36$ 1,659.51$ 138.29$ 914.81$ 5,141.96$
2049 2,565.16$ 1,513.74$ 126.15$ 933.10$ 5,138.15$
2050 2,716.05$ 1,359.84$ 113.32$ 951.76$ 5,140.97$
2051 2,866.94$ 1,196.87$ 99.74$ 970.80$ 5,134.35$
2052 3,032.92$ 1,024.86$ 85.40$ 990.21$ 5,133.40$
2053 3,213.99$ 842.88$ 70.24$ 1,010.02$ 5,137.13$
2054 3,410.15$ 650.04$ 54.17$ 1,030.22$ 5,144.58$
2055 3,606.31$ 445.43$ 37.12$ 1,050.82$ 5,139.69$
2056 3,817.56$ 229.05$ 19.09$ 1,071.84$ 5,137.54$
Total 58,017.83$ 66,085.01$ 5,606.30$ 24,485.54$ 154,194.68$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing
2036, 5.625% for bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual
Service Plan Updates. Changes in Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts
shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total
Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #2 LOT TYPE 6
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #3
INITIAL PARCEL BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 INITIAL PARCEL PRINCIPAL ASSESSMENT:
$2,527,000.00
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
2027 14,000.00$ 174,350.58$ 12,635.00$ 40,000.00$ 240,985.58$
2028 46,000.00$ 141,357.50$ 12,565.00$ 40,800.00$ 240,722.50$
2029 48,000.00$ 139,230.00$ 12,335.00$ 41,616.00$ 241,181.00$
2030 49,000.00$ 137,010.00$ 12,095.00$ 42,448.32$ 240,553.32$
2031 51,000.00$ 134,743.76$ 11,850.00$ 43,297.29$ 240,891.05$
2032 53,000.00$ 132,385.00$ 11,595.00$ 44,163.24$ 241,143.24$
2033 54,000.00$ 129,933.76$ 11,330.00$ 45,046.50$ 240,310.26$
2034 56,000.00$ 127,436.26$ 11,060.00$ 45,947.43$ 240,443.69$
2035 58,000.00$ 124,846.26$ 10,780.00$ 46,866.38$ 240,492.64$
2036 60,000.00$ 122,163.76$ 10,490.00$ 47,803.71$ 240,457.47$
2037 62,000.00$ 119,388.76$ 10,190.00$ 48,759.78$ 240,338.54$
2038 65,000.00$ 115,901.26$ 9,880.00$ 49,734.98$ 240,516.24$
2039 68,000.00$ 112,245.00$ 9,555.00$ 50,729.68$ 240,529.68$
2040 71,000.00$ 108,420.00$ 9,215.00$ 51,744.27$ 240,379.27$
2041 75,000.00$ 104,426.26$ 8,860.00$ 52,779.16$ 241,065.42$
2042 78,000.00$ 100,207.50$ 8,485.00$ 53,834.74$ 240,527.24$
2043 82,000.00$ 95,820.00$ 8,095.00$ 54,911.43$ 240,826.43$
2044 86,000.00$ 91,207.50$ 7,685.00$ 56,009.66$ 240,902.16$
2045 90,000.00$ 86,370.00$ 7,255.00$ 57,129.85$ 240,754.85$
2046 94,000.00$ 81,307.50$ 6,805.00$ 58,272.45$ 240,384.95$
2047 99,000.00$ 76,020.00$ 6,335.00$ 59,437.90$ 240,792.90$
2048 104,000.00$ 70,080.00$ 5,840.00$ 60,626.66$ 240,546.66$
2049 110,000.00$ 63,840.00$ 5,320.00$ 61,839.19$ 240,999.19$
2050 116,000.00$ 57,240.00$ 4,770.00$ 63,075.97$ 241,085.97$
2051 122,000.00$ 50,280.00$ 4,190.00$ 64,337.49$ 240,807.49$
2052 128,000.00$ 42,960.00$ 3,580.00$ 65,624.24$ 240,164.24$
2053 135,000.00$ 35,280.00$ 2,940.00$ 66,936.72$ 240,156.72$
2054 143,000.00$ 27,180.00$ 2,265.00$ 68,275.45$ 240,720.45$
2055 151,000.00$ 18,600.00$ 1,550.00$ 69,640.96$ 240,790.96$
2056 159,000.00$ 9,540.00$ 795.00$ 71,033.78$ 240,368.78$
Total 2,527,000.00$ 2,829,770.66$ 240,345.00$ 1,622,723.23$ 7,219,838.89$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing 2036, 5.625% for
bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates.
Changes in Collection Costs, reserve fund requirements, interest earnings, or other available offsets
could increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #3 INITIAL PARCEL
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #3
LOT TYPE 7 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #3 LOT TYPE 7 PRINCIPAL ASSESSMENT: $35,097.22
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
2027 194.44$ 2,421.54$ 175.49$ 555.56$ 3,347.02$
2028 638.89$ 1,963.30$ 174.51$ 566.67$ 3,343.37$
2029 666.67$ 1,933.75$ 171.32$ 578.00$ 3,349.74$
2030 680.56$ 1,902.92$ 167.99$ 589.56$ 3,341.02$
2031 708.33$ 1,871.44$ 164.58$ 601.35$ 3,345.71$
2032 736.11$ 1,838.68$ 161.04$ 613.38$ 3,349.21$
2033 750.00$ 1,804.64$ 157.36$ 625.65$ 3,337.64$
2034 777.78$ 1,769.95$ 153.61$ 638.16$ 3,339.50$
2035 805.56$ 1,733.98$ 149.72$ 650.92$ 3,340.18$
2036 833.33$ 1,696.72$ 145.69$ 663.94$ 3,339.69$
2037 861.11$ 1,658.18$ 141.53$ 677.22$ 3,338.04$
2038 902.78$ 1,609.74$ 137.22$ 690.76$ 3,340.50$
2039 944.44$ 1,558.96$ 132.71$ 704.58$ 3,340.69$
2040 986.11$ 1,505.83$ 127.99$ 718.67$ 3,338.60$
2041 1,041.67$ 1,450.36$ 123.06$ 733.04$ 3,348.13$
2042 1,083.33$ 1,391.77$ 117.85$ 747.70$ 3,340.66$
2043 1,138.89$ 1,330.83$ 112.43$ 762.66$ 3,344.81$
2044 1,194.44$ 1,266.77$ 106.74$ 777.91$ 3,345.86$
2045 1,250.00$ 1,199.58$ 100.76$ 793.47$ 3,343.82$
2046 1,305.56$ 1,129.27$ 94.51$ 809.34$ 3,338.68$
2047 1,375.00$ 1,055.83$ 87.99$ 825.53$ 3,344.35$
2048 1,444.44$ 973.33$ 81.11$ 842.04$ 3,340.93$
2049 1,527.78$ 886.67$ 73.89$ 858.88$ 3,347.21$
2050 1,611.11$ 795.00$ 66.25$ 876.06$ 3,348.42$
2051 1,694.44$ 698.33$ 58.19$ 893.58$ 3,344.55$
2052 1,777.78$ 596.67$ 49.72$ 911.45$ 3,335.61$
2053 1,875.00$ 490.00$ 40.83$ 929.68$ 3,335.51$
2054 1,986.11$ 377.50$ 31.46$ 948.27$ 3,343.34$
2055 2,097.22$ 258.33$ 21.53$ 967.24$ 3,344.32$
2056 2,208.33$ 132.50$ 11.04$ 986.58$ 3,338.46$
Total 35,097.22$ 39,302.37$ 3,338.13$ 22,537.82$ 100,275.54$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing
2036, 5.625% for bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual
Service Plan Updates. Changes in Collection Costs, reserve fund requirements,
interest earnings, or other available offsets could increase or decrease the amounts
shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total
Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #3 LOT TYPE 7
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #4
INITIAL PARCEL BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #4 INITIAL PARCEL PRINCIPAL ASSESSMENT:
$3,644,000.00
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
Capitalized
Interest
2027 -$ 252,342.10$ 18,220.00$ (252,342.10)$ 40,000.00$ 58,220.00$
2028 62,000.00$ 205,527.50$ 18,220.00$ -$ 40,800.00$ 326,547.50$
2029 64,000.00$ 202,660.00$ 17,910.00$ -$ 41,616.00$ 326,186.00$
2030 67,000.00$ 199,700.00$ 17,590.00$ -$ 42,448.32$ 326,738.32$
2031 69,000.00$ 196,601.26$ 17,255.00$ -$ 43,297.29$ 326,153.55$
2032 72,000.00$ 193,410.00$ 16,910.00$ -$ 44,163.24$ 326,483.24$
2033 75,000.00$ 190,080.00$ 16,550.00$ -$ 45,046.50$ 326,676.50$
2034 78,000.00$ 186,611.26$ 16,175.00$ -$ 45,947.43$ 326,733.69$
2035 81,000.00$ 183,003.76$ 15,785.00$ -$ 46,866.38$ 326,655.14$
2036 84,000.00$ 179,257.50$ 15,380.00$ -$ 47,803.71$ 326,441.21$
2037 88,000.00$ 175,372.50$ 14,960.00$ -$ 48,759.78$ 327,092.28$
2038 92,000.00$ 170,422.50$ 14,520.00$ -$ 49,734.98$ 326,677.48$
2039 97,000.00$ 165,247.50$ 14,060.00$ -$ 50,729.68$ 327,037.18$
2040 101,000.00$ 159,791.26$ 13,575.00$ -$ 51,744.27$ 326,110.53$
2041 107,000.00$ 154,110.00$ 13,070.00$ -$ 52,779.16$ 326,959.16$
2042 112,000.00$ 148,091.26$ 12,535.00$ -$ 53,834.74$ 326,461.00$
2043 118,000.00$ 141,791.26$ 11,975.00$ -$ 54,911.43$ 326,677.69$
2044 124,000.00$ 135,153.76$ 11,385.00$ -$ 56,009.66$ 326,548.42$
2045 130,000.00$ 128,178.76$ 10,765.00$ -$ 57,129.85$ 326,073.61$
2046 137,000.00$ 120,866.26$ 10,115.00$ -$ 58,272.45$ 326,253.71$
2047 145,000.00$ 113,160.00$ 9,430.00$ -$ 59,437.90$ 327,027.90$
2048 153,000.00$ 104,460.00$ 8,705.00$ -$ 60,626.66$ 326,791.66$
2049 162,000.00$ 95,280.00$ 7,940.00$ -$ 61,839.19$ 327,059.19$
2050 171,000.00$ 85,560.00$ 7,130.00$ -$ 63,075.97$ 326,765.97$
2051 181,000.00$ 75,300.00$ 6,275.00$ -$ 64,337.49$ 326,912.49$
2052 191,000.00$ 64,440.00$ 5,370.00$ -$ 65,624.24$ 326,434.24$
2053 202,000.00$ 52,980.00$ 4,415.00$ -$ 66,936.72$ 326,331.72$
2054 214,000.00$ 40,860.00$ 3,405.00$ -$ 68,275.45$ 326,540.45$
2055 227,000.00$ 28,020.00$ 2,335.00$ -$ 69,640.96$ 326,995.96$
2056 240,000.00$ 14,400.00$ 1,200.00$ -$ 71,033.78$ 326,633.78$
Total 3,644,000.00$ 4,162,678.44$ 353,160.00$ (252,342.10)$ 1,622,723.23$ 9,530,219.57$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing 2036, 5.625% for bonds maturing
2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in
Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease
the amounts shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #4 INITIAL PARCEL
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 IMPROVEMENT AREA #4
LOT TYPE 8 BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
IMPROVEMENT AREA #4 LOT TYPE 8 PRINCIPAL ASSESSMENT: $31,686.96
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Principal Interest[a]Additional
Interest
Capitalized
Interest
2027 -$ 2,194.28$ 158.43$ (2,194.28)$ 347.83$ 506.26$
2028 539.13$ 1,787.20$ 158.43$ -$ 354.78$ 2,839.54$
2029 556.52$ 1,762.26$ 155.74$ -$ 361.88$ 2,836.40$
2030 582.61$ 1,736.52$ 152.96$ -$ 369.12$ 2,841.20$
2031 600.00$ 1,709.58$ 150.04$ -$ 376.50$ 2,836.12$
2032 626.09$ 1,681.83$ 147.04$ -$ 384.03$ 2,838.98$
2033 652.17$ 1,652.87$ 143.91$ -$ 391.71$ 2,840.67$
2034 678.26$ 1,622.71$ 140.65$ -$ 399.54$ 2,841.16$
2035 704.35$ 1,591.34$ 137.26$ -$ 407.53$ 2,840.48$
2036 730.43$ 1,558.76$ 133.74$ -$ 415.68$ 2,838.62$
2037 765.22$ 1,524.98$ 130.09$ -$ 424.00$ 2,844.28$
2038 800.00$ 1,481.93$ 126.26$ -$ 432.48$ 2,840.67$
2039 843.48$ 1,436.93$ 122.26$ -$ 441.13$ 2,843.80$
2040 878.26$ 1,389.49$ 118.04$ -$ 449.95$ 2,835.74$
2041 930.43$ 1,340.09$ 113.65$ -$ 458.95$ 2,843.12$
2042 973.91$ 1,287.75$ 109.00$ -$ 468.13$ 2,838.79$
2043 1,026.09$ 1,232.97$ 104.13$ -$ 477.49$ 2,840.68$
2044 1,078.26$ 1,175.25$ 99.00$ -$ 487.04$ 2,839.55$
2045 1,130.43$ 1,114.60$ 93.61$ -$ 496.78$ 2,835.42$
2046 1,191.30$ 1,051.01$ 87.96$ -$ 506.72$ 2,836.99$
2047 1,260.87$ 984.00$ 82.00$ -$ 516.85$ 2,843.72$
2048 1,330.43$ 908.35$ 75.70$ -$ 527.19$ 2,841.67$
2049 1,408.70$ 828.52$ 69.04$ -$ 537.73$ 2,843.99$
2050 1,486.96$ 744.00$ 62.00$ -$ 548.49$ 2,841.44$
2051 1,573.91$ 654.78$ 54.57$ -$ 559.46$ 2,842.72$
2052 1,660.87$ 560.35$ 46.70$ -$ 570.65$ 2,838.56$
2053 1,756.52$ 460.70$ 38.39$ -$ 582.06$ 2,837.67$
2054 1,860.87$ 355.30$ 29.61$ -$ 593.70$ 2,839.48$
2055 1,973.91$ 243.65$ 20.30$ -$ 605.57$ 2,843.44$
2056 2,086.96$ 125.22$ 10.43$ -$ 617.69$ 2,840.29$
Total 31,686.96$ 36,197.20$ 3,070.96$ (2,194.28)$ 14,110.64$ 82,871.47$
Notes:
[a] Interest rate on Improvement Area #2-4 Bonds is 4.625% for bonds maturing 2036, 5.625% for
bonds maturing 2046, and 6.00% for bonds maturing 2056.
[b] The figures shown above are estimates only and subject to change in Annual Service Plan
Updates. Changes in Collection Costs, reserve fund requirements, interest earnings, or other
available offsets could increase or decrease the amounts shown.
Annual
Installment
Due 1/31
Improvement Area #2-4 Bonds Annual
Collection
Costs
Total
Installment
Due[b]
ANNUAL INSTALLMENTS - IMPROVEMENT AREA #4 LOT TYPE 8
SHERLEY TRACT PUBLIC IMPROVEMENT DISTRICT NO. 2 MAJOR IMPROVEMENT
AREA INITIAL PARCEL BUYER DISCLOSURE
NOTICE OF OBLIGATIONS RELATED TO PUBLIC IMPROVEMENT DISTRICT
A person who proposes to sell or otherwise convey real property that is located in a public
improvement district established under Subchapter A, Chapter 372, Local Government Code
(except for public improvement districts described under Section 372.005), or Chapter 382,
Local Government Code, shall first give to the purchaser of the property this written notice,
signed by the seller.
For the purposes of this notice, a contract for the purchase and sale of real property having a
performance period of less than six months is considered a sale requiring the notice set forth below.
This notice requirement does not apply to a transfer:
1) under a court order or foreclosure sale;
2) by a trustee in bankruptcy;
3) to a mortgagee by a mortgagor or successor in interest or to a beneficiary
of a deed of trust by a trustor or successor in interest;
4) by a mortgagee or a beneficiary under a deed of trust who has acquired the
land at a sale conducted under a power of sale under a deed of trust or a sale
under a court-ordered foreclosure or has acquired the land by a deed in lieu of
foreclosure;
5) by a fiduciary in the course of the administration of a decedent's
estate, guardianship, conservatorship, or trust;
6) from one co-owner to another co-owner of an undivided interest in the
real property;
7) to a spouse or a person in the lineal line of consanguinity of the seller;
8) to or from a governmental entity; or
9) of only a mineral interest, leasehold interest, or security interest.
The following notice shall be given to a prospective purchaser before the execution of a binding
contract of purchase and sale, either separately or as an addendum or paragraph of a purchase
contract. In the event a contract of purchase and sale is entered into without the seller having
provided the required notice, the purchaser, subject to certain exceptions, is entitled to terminate
the contract.
A separate copy of this notice shall be executed by the seller and the purchaser and must be
filed in the real property records of the county in which the property is located at the closing of
the purchase and sale of the property.
AFTER RECORDING 1 RETURN TO:
____________________
____________________
____________________
____________________
____________________
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF ANNA, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS
MAJOR IMPROVEMENT AREA INITIAL PARCEL PRINCIPAL ASSESSMENT: $
0.00
As the purchaser of the real property described above, you are obligated to pay
assessments to the City of Anna, Texas, (the “City”), for the costs of a portion of a public
improvement or services project (the "Authorized Improvements") undertaken for the benefit of
the property within Sherley Tract Public Improvement District No. 2 (the "District") created
under Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF
THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN
ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING
ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE
COSTS, AND DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount
of each annual installment will be approved each year by the City of Anna, Texas, City Council
in the annual service plan update for the District. More information about the assessments,
including the amounts and due dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County when updating for the Current Information of Obligation to Pay Improvement District
Assessment.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above.
The undersigned seller acknowledges providing this notice to the potential purchaser
before the effective date of a binding contract for the purchase of the real property at the address
described above.
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance with Section 5.014(a-1),
Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date
of a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current
information required by Section 5.0143, Texas Property Code, as amended.
STATE OF TEXAS §
§
COUNTY OF _______ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale
and to be recorded in the deed records of Collin County.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned seller acknowledges providing a separate copy of the notice required by
Section 5.014 of the Texas Property Code including the current information required by Section
5.0143, Texas Property Code, as amended, at the closing of the purchase of the real property at the
address above.
STATE OF TEXAS §
§
COUNTY OF ________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument, and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing of the purchase and sale and
to be recorded in the deed records of Collin County.
Annual Installment Schedule to Notice
of Obligation to Pay Improvement District Assessment
Installment Due
1/31 Principal Interest Additional
Interest
Annual Collection
Costs
Total Installment
Due[a]
Total -$ -$ -$ -$ -$
Notes:
ANNUAL INSTALLMENTS - MAJOR IMPROVEMENT AREA INITIAL PARCEL