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HomeMy WebLinkAboutORD 2026-42 - Preserve at Water Oak PID 2026 SAP (Service and Assessment Plan) Update2026073428 Total Pages: 44 ■sit CERTIFICATE FOR ORDINANCE NO. aQa ra — Li � THE STATE OF TEXAS § COUNTY OF WILLIAMSON § CITY OF GEORGETOWN § We, the undersigned officers and members of the City of Georgetown, Texas (the "City"), hereby certify as follows: 1. The City Council of the City convened in REGULAR MEETING ON THE 25th DAY OF August, 2026, (the "Meeting"), and the roll was called of the duly constituted officers and members of the City, to -wit: Josh Schroeder, Mayor Amanda Parr, Councilmember District 1 Doug Noble, Councilmember District 2 Ben Butler, Councilmember District 3 Ron Garland, Councilmember District 4 Kevin Pitts, Councilmember District 5 Jake French, Councilmember District 6 Ben Stewart, Councilmember District 7 and all of the persons were present, except the following absentees: 'N�" , thus constituting a quorum. Whereupon, among other business, the following was transacted at the Meeting: as written AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS ("CITY"), AUTHORIZING AN ANNUAL SERVICE PLAN UPDATE AND AN UPDATE TO THE ASSESSMENT ROLL FOR THE PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT, IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS LOCAL GOVERNMENT CODE; REPEALING CONFLICTING ORDINANCES AND RESOLUTIONS; MAKING SUCH OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE was duly introduced for the consideration of the City Council. It was then duly moved and seconded that the Ordinance be passed on second reading; and, after due discussion, said motion carrying with it the passage of the Ordinance, prevailed and carried by the following vote: AYES: CD NOES: a) 2. A true, full and correct copy of the Ordinance described in the above and foregoing paragraph is attached to and follows this Certificate; that the Ordinance has been duly recorded in the City Council's minutes of the Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage of the Ordinance; that the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of the City Council as indicated therein; that each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and that the Ordinance would be introduced and considered for passage at the Meeting, and each of the officers and members consented, in advance, to the holding of the Meeting for such purpose; that the Meeting was open to the public and public notice of the time, place and purpose of the Meeting was given, all as required by Chapter 551, Texas Government Code, as amended. 3. The Mayor of the City has approved and hereby approves the Ordinance; that the Mayor and the City Secretary of the City have duly signed the Ordinance; and that the Mayor and the City Secretary of the City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of the Ordinance for all purposes. SIGNED AND SEALED the 25" day of August, 2026. )� ��� XRI�- City Secreor US CY [CITY SEAL] Georgetown Preserve at Water Oak PID: Ordinance Cert �- .' � '. i , r � y .'ti •. ORDINANCE NO. ;W4 tar+ WZ AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS ("CITY"), AUTHORIZING AN ANNUAL SERVICE PLAN UPDATE AND AN UPDATE TO THE ASSESSMENT ROLL FOR THE PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT, IN ACCORDANCE WITH CHAPTER 372 OF THE TEXAS LOCAL GOVERNMENT CODE; REPEALING CONFLICTING ORDINANCES AND RESOLUTIONS; MAKING SUCH OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE WHEREAS, the City Council of the City of Georgetown ("City Council") adopted Resolution No. 121024-6.13 creating the Preserve at Water Oak Public Improvement District on December 10, 2024 after notice and hearing in accordance with the requirements of the Texas Local Government Code Chapter 372; WHEREAS, the City Council adopted Ordinance No. 2025-36 ("Assessment Ordinance") on July 22, 2025, levying Assessments for costs of Improvements, approving a Service and Assessment Plan ("SAP"), and approving a Landowner Consent Certificate. WHEREAS, the City Council has received an update to the SAP ("2026 Annual Service Plan Update") including an updated Assessment Roll in accordance with Chapter 372 of the Texas Local Government Code, as amended ("PID Act"). NOW THEREFORE, BE IT ORDAINDED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS: Section 1. The facts and recitations contained in the preamble of this ordinance are hereby found and declared to be true and correct and are incorporated by reference herein and expressly made a part hereof, as if copied verbatim. Section 2. The 2026 Annual Service Plan Update attached hereto as Exhibit A, including the updated Assessment Roll contained therein, is hereby approved and accepted by the City Council. Section 3. All ordinances or resolutions that are in conflict with the provisions of this ordinance are, and the same are hereby, repealed and all other ordinances or resolutions of the City not in conflict with the provisions of this ordinance shall remain in full force and effect. Section 4. If any provision of this ordinance, or application thereof, to any person or circumstance, shall be held invalid, such invalidity shall not affect the other provisions, or Ordinance Number: W ti Page I of 2 Description: Preserve at Water Oak PID 2026 SAP Update Date Approved: i 2026 application thereof, of this ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this ordinance are hereby declared to be severable. Section 5. The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest. This Ordinance shall become effective and be in full force and effect in accordance with the provisions of the City Charter of the City of Georgetown. .} PASSED AND APPROVED on First Reading on the I �of (�,Ol .2026. iv PASSED AND APPROVED on Second Reading on the of &01— .2026. ATTEST: THU CI Y OF GEORGETOWN :4 Robyn�Jsmore, City Secretary osh chrgeder, Mayor Skye asson ity Attorney Ordinance Number: O#26 -"1AJ�, Page 2 of 2 Description: Preserve at % atcr Oak PID 2026 SAP Update Date Approved: i UTA;, �L 2026 P?KS THE PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 2026 ANNUAL SERVICE PLAN UPDATE AUGUST 11, 2026 INTRODUCTION Capitalized terms used in this 2026 Annual Service Plan Update not otherwise defined herein shall have the meanings set forth in the Service and Assessment Plan (the "SAP"). The District was created pursuant to the PID Act by Resolution No. 121024-6.1) on December 10, 2024, approved by the City Council (the "Governing Body") to finance certain Authorized Improvements for the benefit of the property in the District. On July 22, 2025, the Governing Body approved the SAP for the District by adopting Ordinance No. 2025-36 which (1) approved the levy of certain Assessments for Assessed Property within the District; and (2) approved the Assessment Roll. The SAP identified the Authorized Improvements to be constructed for the benefit of the Assessed Property within the District, the costs of the Authorized Improvements, the indebtedness to be incurred for the Authorized Improvements, and the manner of assessing the property in the District for the costs of the Authorized Improvements. Pursuant to the PID Act, the SAP must be reviewed and updated annually. This document is the Annual Service Plan Update for 2026. The Governing Body also adopted each Assessment Roll identifying the Assessments on Parcels of Assessed Property within the District, based on the method of assessment identified in the SAP. This 2026 Annual Service Plan Update also updates the Assessment Rolls for 2026. PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 1 2026 ANNUAL SERVICE PLAN UPDATE PARCEL SUBDIVISION The Declaration of Condominium Regime for the Preserve Condominiums was filed and recorded with the County as document number 2025059202 on July 30, 2025. See Exhibit C for the Lot Type classification map. LOT AND HOME SALES Current ownership within the District is based on information provided by the Developer and available information and is subject to change as development occurs and property is conveyed. Updated ownership and development information for Assessments securing PID Bonds may be available through continuing disclosure filings accessible via the MSRB's EMMA by searching for the District. For Assessments securing reimbursement obligations to the Developer, the summary of current ownership within the property securing such Assessment is based on information provided by the Developer and other publicly available records. See Exhibit D for buyer disclosures. AUTHORIZED IMPROVEMENTS A summary of the Authorized Improvements, including the original estimated costs of the Authorized Improvements and allocation of such costs, is provided in the SAP. The Authorized Improvements and estimated costs as described in the SAP are for Assessment purposes and do not represent a guarantee of construction timing or Actual Costs. Information regarding the status of Authorized Improvements, including construction progress, estimated completion timing, and budget information, including any updates to the original estimates of costs, is based on information provided by the Developer and other available project information at the time such information is compiled. Such information may be updated from time to time. OUTSTANDING ASSESSMENT The District has an outstanding Assessment of $4,259,000.00. Information for Assessments securing PID Bonds may be available through continuing disclosure filings accessible via EMMA website by searching for the District. For Assessments securing reimbursement obligations to the Developer, the summary of current construction status within the property securing such Assessment is based on information provided by the Developer and PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 2 2026 ANNUAL SERVICE PLAN UPDATE other publicly available records. A reimbursement schedule is attached as Exhibit B. ANNUAL INSTALLMENT DUE 1/31/2027 ■ Principal and Interest — The total principal and interest required for the Annual Installment is shown below. Principal $ 92,000.00 Interest $ 255,540.00 Administrative Expenses $ 45,680.00 Total Annual Installment $ 393,220.00 ■ Annual Collection Costs —The cost of administering the District 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 is shown below. P3 Works Administration $18,360.00 City Auditor $ 2,500.00 City Administration $10,000.00 Filing Fees $ 1,000.00 County Collection $ 1,000.00 PID Trustee Fees $ - P3Works Dev/Issuer CDA Review $ 3,910.00 Past Due P3 Works, LLC Invoices $ 3,910.00 Collection Cost Maintenance Balance $ 5,000.00 Less CCMB Credit from Prior Years $ - Arbitrage Calculation $ - Total Administrative Expenses $ 45,680.00 PREPAYMENT OF ASSESSMENTS Information regarding any full or partial Prepayments of the Assessments are reflected in the corresponding Assessment Roll. PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 3 2026 ANNUAL SERVICE PLAN UPDATE SERVICE PLAN — FIVE YEAR BUDGET FORECAST The PID Act requires the annual indebtedness and projected costs for the Authorized Improvements to be reviewed and updated in the Annual Service Plan Update, and the projection shall cover a period of not less than five years, and is included below: t... J_. Principal 5 92,000.00 $ 97,000.00 $ 102,000.00 5 107,ODO.00 $ 113,000.00 Interest 255,540.00 250,020.00 244,200.00 238,080.00 231,660.00 (1) $ 347,540.00 $ 347,020.00 $ 346,200.00 $ 345,080.00 $ 344,660.00 Annual Collection Costs (2) $ 45,680.00 $ 41,493.60 $ 42,323.47 $ 43,169.94 $ 44,033.34 AdditionallnterestM (3) $ - $ - $ - $ - $ - Total Annual Installment (4)=(1)+(2)+(3) $ 393,220.00 $ 388,513.60 $ 388,523.47 $ 388,249.94 $ 398,693.34 [a] If PID Bonds are issued, Additional Interest will be charged and collected. ASSESSMENT ROLL The list of current Parcels or Lots within the District, the corresponding total Assessments, and current Annual Installment are shown on the corresponding Assessment Roll attached hereto as Exhibit A. The Annual Installment due on each Parcel or Lot may be updated to reflect prepayments and/or redemptions paid prior to the Annual Installment being billed to the owner of the Parcel or Lot. The Parcels or Lots of Assessed Property shown on the corresponding Assessment Roll will receive the bills for the 2026 Annual Installments which will be delinquent if not paid by January 31, 2027. The Parcel IN shown within an Assessment Roll are subject to change based on the final certified rolls provided by the County prior to billing. ADDITIONAL INFORMATION If the owner of a Parcel claims that an error has been made in any Assessment Roll required by the SAP, a prior Annual Service Plan Update, or this 2026 Annual Service Plan Update, the owner's sole and exclusive remedy shall be to submit a written notice of error to the Administrator (at admin@p3-works.com) by December 1st of the year in connection with the approval of such year's Annual Service Plan Update. Otherwise, the owner shall be deemed to have unconditionally approved and accepted the Annual Service Plan Update. The Administrator shall provide a written response to the Governing Body and the owner not later than 30 days after receipt of such written notice of error by the Administrator. The Governing Body 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 Governing Body shall make a final determination as PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 4 2026 ANNUAL SERVICE PLAN UPDATE to whether an error has been made. If the Governing Body determines that an error has been made, the Governing Body shall take such corrective action as is authorized by the PID Act, this 2026 Annual Service Plan Update, the applicable Assessment Ordinance, the applicable Indenture, or as otherwise authorized by the discretionary power of the Governing Body. The determination by the Governing Body as to whether an error has been made, and any corrective action taken by the Governing Body shall be final and binding on the owner and the Administrator. PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 5 2026 ANNUAL SERVICE PLAN UPDATE EXHIBIT A - ASSESSMENT ROLL R679332 1 1 18 Unit 18 9,162 OR $ 22,869 77 R679331 1 17 Unit 17 8,977 S 242,702 81 $ 22,407.99 R679316 3 16 Unit 16101 1,463 $ 27,687.64 S 2,556 31 R679317 3 16 Unit 16102 1,431 $ 27,092.03 $ 2,500.40 R679318 3 16 Unit 16103 2,014 $ 38,115.45 $ 3,51908 R679319 3 16 Unit 16104 1,986 $ 37,585.55 $ 3,470.15 R679320 3 16 Unit 16105 1,430 $ 27,063.11 $ 2,498.65 R679321 3 16 Unit 16106 1,461 $ 27,64979 $ 2,552.82 R679322 3 16 Unit 16201 847 $ 16,029 69 $ 1,479.97 R679323 3 16 Unit 16202 90o $ 17,032.72 $ 1,572.58 R679324 3 16 Unit 16203 617 $ 11,676.88 $ 1,07909 R679325 3 16 Unit 16204 647 S 12,24464 5 1,130.51 R679326 3 16 Unit 16205 1,209 $ 22,88063 S 2,112.50 R679327 3 16 Unit 16206 1,209 S 22,88063 S 2,11250 R679328 3 16 Unit 16207 1,319 $ 24,962.40 $ 2,30470 R679329 3 16 Unit 16208 1,045 $ 19,776.99 $ 1,825.94 R679330 3 16 Unit 16209 869 $ 16,446.04 $ 1,518.41 R679308 4 4 Unit 4101 2,507 $ 48,951.81 $ 4,519.57 R679309 4 4 Unit 4102 2,032 $ 39,676 94 $ 3,663.25 R679310 4 4 Unit 4103 2,469 $ 48,209.82 $ 4,451.06 R679311 4 5 Unit 5101 2,600 $ 50,767.73 $ 4,687.22 R679312 4 5 Unit 5102 1,388 S 27,102.16 $ 2,502,26 R679313 4 5 Unit 5103 1,394 $ 27,219.32 $ 2,513.07 R679314 4 5 Unit 5104 1,289 S 25,169.08 $ 2,323.79 R679315 4 5 Unit 5105 1,318 $ 25,73534 $ 2,376.06 R679307 Remainder Parcel N/A N/A 157.050 $ 3,126,646.46 S 288.673 39 Total 208,633 $ 4,259,000.00 $ 393.220.00 [a] Property IDs preliminary and subject to change based on final certified rolls provided by the County prior to billing [b] The Annual Installment due on each Parcel or Lot may be updated to reflect prepayments and/or redemptions paid prior to the Annual Installment being billed to the owner of the Parcel or Lot [c] Totals may not add or match the Service Plan or Improvement Area #1 Annual Installment Schedule due to rounding or prepayments. [d] The Developer has an obligation to build the square footage above for each Unit. Should the square footage change, a mandatory prepayment may be required. PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 2026 ANNUAL SERVICE PLAN UPDATE EXHIBIT B -REIMBURSEMENT SCHEDULE 2027 92,000.00 255,540.00 - 45,680.00 393,220.00 2028 97,000.00 250,020.00 - 41,493.60 388,513.60 2029 102,000.00 244,200.00 - 42,323.47 388,523.47 2030 107,000.00 238,080.00 - 43,169.94 388,249.94 2031 113,000.00 231,660.00 - 44,033.34 388,693.34 2032 119,000.00 224,880.00 - 44,914.01 388,794.01 2033 125,000.00 217,740.00 45,812.29 388,552.29 2034 131,000.00 210,240.00 46,728.53 387,968.53 2035 138,000.00 202,380.00 47,663.10 388,043.10 2036 146,000.00 194,100.00 48,616.37 388,716.37 2037 153,000.00 185,340.00 49,588.69 387,928.69 2038 161,000.00 176,160.00 50,580.47 387,740.47 2039 170,000.00 166,500.00 51,592.08 388,092.08 2040 179,000.00 156,300.00 52,623.92 387,923.92 2041 189,000.00 145,560.00 53,676.40 388,236.40 2042 199,000.00 134,220.00 - 54,749.92 387,969.92 2043 210,000.00 122,280.00 55,844.92 388,124.92 2044 221,000.00 109,680.00 56,961.82 387,641.82 2045 233,000.00 96,420.00 - 58,101.06 387,521.06 2046 246,000.00 82,440.00 59,263.08 387,703.08 2047 260,000.00 67,680.00 60,448.34 388,128.34 2048 274,000.00 52,080.00 61,657.31 387,737.31 2049 289,000.00 35,640.00 62,890.45 387,530.45 2050 305,000.00 18,300.00 64,148.26 387,448.26 Total $ 4,259,000.00 $ 3,827,440.00 $ - $ 1,242,561.37 $ 9,319,001.37 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 7 2026 ANNUAL SERVICE PLAN UPDATE EXHIBIT C — LOT TYPE CLASSIFICATION MAP C 75 150 C % 1 CO m al mercial I I• 11► I f OF O lice Dis trict POTENTIAL OUTDOOR SEATING AREA, GATHERING SPACE OR PICNIC AREA a The Preserve at Water Oak O.M. Development June 18, 2020 '03 E hIA1\ STREET. SUITE 204 ROLND ROCK, TEXAS 79664 512-344-4664 TBPE FIRM OF-14351 PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT RECORDERS MEMORANDUM 8 2026 ANNUAL SERVICE PLAN UPDATE All or parts of the text on this page was not clearly legible for satisfactory recordation EXHIBIT D - BUYER DISCLOSURES Buyer disclosures for the following Lot Types are found in this Exhibit: o Lot Type 1 o Lot Type 2 o Lot Type 3 o Lot Type 4 o Remainder Parcel PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT 2026 ANNUAL SERVICE PLAN UPDATE PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT - 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 372.0035), 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' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO GEORGETOWN, TEXAS CONCERNING THE FOLLOWING PROPERTY PROPERTY ADDRESS LOT TYPE 1 PRINCIPAL ASSESSMENT: $27.04 per Square Foot "inclusive of common area allocation" As the purchaser of the real property described above, you are obligated to pay assessments to the City of Georgetown, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within The Preserve at Water Oak Public Improvement District (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 of Georgetown. The exact amount of each annual installment will be approved each year by the Georgetown 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 of Georgetown. ' 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 Williamson 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 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. [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. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER 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. DATE: SIGNATURE OF SELLER DATE: SIGNATURE OF SELLER 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. 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 purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF WILLIAMSON DATE: SIGNATURE OF PURCHASER 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 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 Williamson County. Purchaser 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. DATE: SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF WILLIAMSON DATE: SIGNATURE OF SELLER 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 Notary Public, State of Texas]4 _ , 20_. a 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 Williamson County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - LOT TYPE 1 2027 0.58 1.62 - 0.29 2.50 2028 0.62 1.59 - 0.26 2.47 2029 0.65 1.55 - 0.27 2.47 2030 0.68 1.51 - 0.27 2.46 2031 0.72 1.47 - 0.28 2.47 2032 0.76 1.43 - 0.29 2.47 2033 0.79 1.38 0.29 2.47 2034 0.83 1.33 0.30 2.46 2035 0.88 1.28 0.30 2.46 2036 0.93 1.23 0.31 2.47 2037 0.97 1.18 - 0.31 2.46 2038 1.02 1.12 0.32 2.46 2039 1.08 1.06 0.33 2.46 2040 1.14 0.99 0.33 2.46 2041 1.20 0.92 0.34 2.46 2042 1.26 0.85 0.35 2.46 2043 1.33 0.78 0.35 2.46 2044 1.40 0.70 0.36 2.46 2045 1.48 0.61 0.37 2.46 2046 1.56 0.52 0.38 2.46 2047 1.65 0.43 0.38 2.46 2048 1.74 0.33 0.39 2.46 2049 1.83 0.23 0.40 2.46 2050 1 1.94 0.12 - 0.41 2.46 Total 1 $ 27.04 $ 24.23 $ - $ 7.89 $ 59.16 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. [c] The Bond Par shall be reduced to ensure the fixed PID Tax Rate Equivalent of $0.55 isn't exceeded should the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT - LOT TYPE 2 BUYER DISCLOSURE I 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 372.0035), 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' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO GEORGETOWN, TEXAS CONCERNING THE FOLLOWING PROPERTY PROPERTY ADDRESS LOT TYPE 2 PRINCIPAL ASSESSMENT: $34.25 per Square Foot "inclusive of common area allocation" As the purchaser of the real property described above, you are obligated to pay assessments to the City of Georgetown, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within The Preserve at Water Oak Public Improvement District (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 of Georgetown. The exact amount of each annual installment will be approved each year by the Georgetown 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 of Georgetown. 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. ' 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 Williamson County when updating for the 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. DATE: SIGNATURE OF PURCHASER DATE: SIGNATURE OF PURCHASER 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. DATE: SIGNATURE OF SELLER DATE: SIGNATURE OF SELLER 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. 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 purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS § COUNTY OF WILLIAMSON 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 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 Williamson County. Purchaser 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. DATE: SIGNATURE OF SELLER STATE OF TEXAS 0 COUNTY OF WILLIAMSON DATE: SIGNATURE OF SELLER 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 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 Williamson County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - LOT TYPE 2 2027 0.74 2.05 - 0.37 3.16 2028 0.78 2.01 - 0.33 3.12 2029 0.82 1.96 - 0.34 3.12 2030 0.86 1.91 0.35 3.12 2031 0.91 1.86 - 0.35 3.13 2032 0.96 1.81 - 0.36 3.13 2033 1.01 1.75 - 0.37 3.12 2034 1.05 1.69 - 0.38 3.12 2035 1.11 1.63 - 0.38 3.12 2036 1.17 1.56 0.39 3.13 2037 1.23 1.49 0.40 3.12 2038 1.29 1.42 0.41 3.12 2039 1.37 1.34 - 0.41 3.12 2040 1.44 1.26 0.42 3.12 2041 1.52 1.17 - 0.43 3.12 2042 1.60 1.08 0.44 3.12 2043 1.69 0.98 0.45 3.12 2044 1.78 0.88 0.46 3.12 2045 1.87 0.78 0.47 3.12 2046 1.98 0.66 0.48 3.12 2047 2.09 0.54 0.49 3.12 2048 2.20 0.42 0.50 3.12 2049 2.32 0.29 0.51 3.12 2050 2.45 0.15 0.52 3.12 Total $ 34.25 $ 30.70 $ - $ 9.99 $ 74.93 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. [c] The Bond Par shall be reduced to ensure the fixed PID Tax Rate Equivalent of $0.55 isn't exceeded should the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment P RESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT - 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 372.0035), 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' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO GEORGETOWN, TEXAS CONCERNING THE FOLLOWING PROPERTY PROPERTY ADDRESS LOT TYPE 3 PRINCIPAL ASSESSMENT: $18.93 per Square Foot "inclusive of common area allocation" As the purchaser of the real property described above, you are obligated to pay assessments to the City of Georgetown, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within The Preserve at Water Oak Public Improvement District (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 of Georgetown. The exact amount of each annual installment will be approved each year by the Georgetown 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 of Georgetown. 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 Williamson County when updating for the 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. DATE: SIGNATURE OF PURCHASER DATE: SIGNATURE OF PURCHASER 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. DATE: SIGNATURE OF SELLER DATE: SIGNATURE OF SELLER]' 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. 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 purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF WILLIAMSON 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 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 Williamson County. Purchaser 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. DATE: SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF WILLIAMSON § DATE: SIGNATURE OF SELLER 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]' a 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 Williamson County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - LOT TYPE 3 2027 0.41 1.14 - 0.20 1.75 2028 0.43 1.11 - 0.18 1.73 2029 0.45 1.09 0.19 1.73 2030 0.48 1.06 0.19 1.73 2031 0.50 1.03 0.20 1.73 2032 0.53 1.00 0.20 1.73 2033 0.56 0.97 0.20 1.73 2034 0.58 0.93 0.21 1.72 2035 0.61 0.90 0.21 1.72 2036 0.65 0.86 0.22 1.73 2037 0.68 0.82 0.22 1.72 2038 0.72 0.78 0.22 1.72 2039 0.76 0.74 0.23 1.72 2040 0.80 0.69 0.23 1.72 2041 0.84 0.65 0.24 1.73 2042 0.88 0.60 0.24 1.72 2043 0.93 0.54 0.25 1.72 2044 0.98 0.49 0.25 1.72 2045 1.04 0.43 0.26 1.72 2046 1.09 0.37 0.26 1.72 2047 1.16 0.30 0.27 1.72 2048 1.22 0.23 0.27 1.72 2049 1.28 0.16 0.28 1.72 2050 1.36 0.08 0.29 1.72 Total $ 18.93 $ 16.96 $ - $ 5.52 $ 41.41 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. [c] The Bond Par shall be reduced to ensure the fixed PID Tax Rate Equivalent of $0.55 isn't exceeded should the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT - 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 372.0035), 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' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO GEORGETOWN, TEXAS CONCERNING THE FOLLOWING PROPERTY PROPERTY ADDRESS LOT TYPE 4 PRINCIPAL ASSESSMENT: $19.53 per Square Foot "inclusive of common area allocation" As the purchaser of the real property described above, you are obligated to pay assessments to the City of Georgetown, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within The Preserve at Water Oak Public Improvement District (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 of Georgetown. The exact amount of each annual installment will be approved each year by the Georgetown 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 of Georgetown. 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. I 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 Williamson County when updating for the 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. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER 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. DATE: SIGNATURE OF SELLER DATE: SIGNATURE OF SELLER 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. 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 purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF WILLIAMSON 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 Williamson County. Purchaser 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. DATE: SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF WILLIAMSON DATE: SIGNATURE OF SELLER 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 Williamson County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - LOT TYPE 4 2027 0.42 1.17 0.21 1.80 2028 0.44 1.15 0.19 1.78 2029 0.47 1.12 0.19 1.78 2030 0.49 1.09 0.20 1.78 2031 0.52 1.06 0.20 1.78 2032 0.55 1.03 0.21 1.78 2033 0.57 1.00 0.21 1.78 2034 0.60 0.96 0.21 1.78 2035 0.63 0.93 0.22 1.78 2036 0.67 0.89 0.22 1.78 2037 0.70 0.85 - 0.23 1.78 2038 0.74 0.81 0.23 1.78 2039 0.78 0.76 0.24 1.78 2040 0.82 0.72 0.24 1.78 2041 0.87 0.67 0.25 1.78 2042 0.91 0.62 0.25 1.78 2043 0.96 0.56 0.26 1.78 2044 1.01 0.50 0.26 1.78 2045 1.07 0.44 0.27 1.78 2046 1.13 0.38 0.27 1.78 2047 1.19 0.31 - 0.28 1.78 2048 1.26 0.24 0.28 1.78 2049 1.32 0.16 0.29 1.78 2050 1.40 0.08 0.29 1.78 Total $ 19.53 $ 17.50 $ - $ 5.70 $ 42.72 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. [c] The Bond Par shall be reduced to ensure the fixed PID Tax Rate Equivalent of $0.55 isn't exceeded should the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. Annual Installment Schedule to Notice of Obligation to Pay Improvement District Assessment PRESERVE AT WATER OAK PUBLIC IMPROVEMENT DISTRICT - REMAINDER 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 372.0035), 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' RETURN TO: NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO GEORGETOWN, TEXAS CONCERNING THE FOLLOWING PROPERTY PROPERTY ADDRESS REMAINDER PARCEL PRINCIPAL ASSESSMENT: $3,126,646.46 As the purchaser of the real property described above, you are obligated to pay assessments to the City of Georgetown, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within The Preserve at Water Oak Public Improvement District (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 of Georgetown. The exact amount of each annual installment will be approved each year by the Georgetown 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 of Georgetown. 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 Williamson County when updating for the 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. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER 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. DATE: SIGNATURE OF SELLER DATE: SIGNATURE OF SELLERf 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. 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 purchaser acknowledged the receipt of this notice including the current information required by Section 5.0143, Texas Property Code, as amended. DATE: DATE: SIGNATURE OF PURCHASER SIGNATURE OF PURCHASER STATE OF TEXAS COUNTY OF WILLIAMSON 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 Williamson County. Purchaser 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. DATE: SIGNATURE OF SELLER STATE OF TEXAS COUNTY OF WILLIAMSON DATE: SIGNATURE OF SELLER 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 ° 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 Williamson County. Seller Signature Page to Final Notice with Current Information of Obligation to Pay Improvement District Assessment ANNUAL INSTALLMENTS - REMAINDER PARCEL 2027 67,539.67 187,598.79 - 33,534.92 288,673.38 2028 71,210.31 183,546.41 30,461.57 285,218.28 2029 74,880.94 179,273.79 31,070.80 285,225.53 2030 78,551.58 174,780.93 31,692.22 285,024.72 2031 82,956.34 170,067.84 32,326.06 285,350.24 2032 87,361.10 165,090.46 32,972.58 285,424.14 2033 91,765.86 159,848.79 - 33,632.03 285,246.69 2034 96,170.62 154,342.84 34,304.67 284,818.14 2035 101,309.51 148,572.60 34,990.77 284,872.88 2036 107,182.53 142,494.03 35,690.58 285,367.14 2037 112,321.42 136,063.08 36,404.39 284,788.89 2038 118,194.43 129,323.79 37,132.48 284,650.71 2039 124,801.57 122,232.13 37,875.13 284,908.83 2040 131,408.71 114,744.03 - 38,632.63 284,785.38 2041 138,749.98 106,859.51 39,405.29 285,014.78 2042 146,091.25 98,534.51 40,193.39 284,819.16 2043 154,166.65 89,769.04 - 40,997.26 284,932.95 2044 162,242.04 80,519.04 41,817.20 284,578.29 2045 171,051.57 70,784.52 42,653.55 284,489.63 2046 180,595.22 60,521.42 43,506.62 284,623.26 2047 190,872.99 49,685.71 44,376.75 284,935.45 2048 201,150.77 38,233.33 45,264.29 284,648.39 2049 212,162.67 26,164.28 46,169.57 284,496.53 2050 223,908.70 13,434.52 - 47,092.96 284,436.19 Total $ 3,126,646.46 $ 2,902,485.38 $ - $ 912,197.72 $ 6,941,329.56 [a] Interest is calculated at a rate of 6.00% which is less than 2% above the 30-year Municipal Market Data Index, which was 4.54% as of June 20, 2025, as required by the PID Act. If PID Bonds are issued, the interest rate on the Assessment will adjust to the interest rate on the Bonds plus Additional Interest. [b] If PID Bonds are issued, Additional Interest will be charged and collected. [c] The Bond Par shall be reduced to ensure the fixed PID Tax Rate Equivalent of $0.55 isn't exceeded should the interest rates on the bonds plus Additional Interest at bond sale be higher than the Reimbursement Obligation rate. [d] The figures shown above are estimates only and subject to change in Annual Service Plan Updates. Changes in Annual Collection Costs, reserve fund requirements, interest earnings, or other available offsets could increase or decrease the amounts shown. r�.(.`n; FILED AND RECORDED OFFICIAL PUBLIC RECORDS 2026073428 Fee: $201.00 08/31/2026 09:42 AM OSALINAS ?, �ayyor� Nancy E. Rister, County Clerk Williamson County, Texas