Silver Palms West
	Community Development District	

https://www.silverpalmswestcdd.com

Yani Lopez Castillo, Chair Mailie-Jo Lopez, Vice Chair
Teanna Peralta, Assistant Secretary Teresa Baluja, Assistant Secretary Raisa Krause, Assistant Secretary

February 26, 2026

Seat 3: Yani Lopez Castillo – (C.)		
Seat 4: Mailie-Jo Lopez – (V.C.)		
Seat 5: Teanna Peralta – (A.S.)		
Seat 1: Teresa Baluja – (A.S.)		
Seat 2: Raisa Krause – (A.S.)		

Silver Palms West
Community Development District
Special Meeting Agenda
Thursday	The Corsica Club
February 26, 2026	24455 S.W. 119th Avenue, Miami, FL 4:00 p.m.		Join the meeting now
Meeting ID: 259 497 984 355 3 and Passcode: 2Zt9gB2Pf
1 872-240-4685 and Phone Conference ID: 403 281 926#

Roll Call

Approval of Minutes of the January 15, 2026 Meeting – Page 4

Public Hearing to Consider the Imposition of Special Assessments
Motion to Open the Public Hearing

Public Comment and Discussion

Acceptance of Engineers Report – Page 22

Acceptance of Master Assessment Methodology – Page 40

Approving the Project and Declaring Special Assessments will Fund the Project

Equalization of Assessments

Adoption of Resolution #2026-05 Authorizing Projects, Levying Special Assessments, and Confirming Intention to Issue Bonds – Page 54

Motion to Close the Public Hearing

Approval of Acquisition Agreement (Expansion Area Project) with Lennar Homes, LLC – Page 61

Ratification of Joint Participation Agreement with Corsica HOA for Flock Group, Inc. Security Services – Page 78
Staff Reports
Attorney – Consideration of Request for Adjustment to District Counsel Fee Structure – Page 98
Engineer – Personnel Billing Rates – Page 100
Field
Monthly Report – Page 102

Invoice with Corsica Homeowners Association – Page 110

Manager

Financial Reports
Check Register – Page 111

Unaudited Financials – Page 113

Supervisors Requests and Audience Comments

Adjournment

Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: https://www.silverpalmswestcdd.com

MINUTES OF MEETING SILVER PALMS WEST
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Silver Palms West Community Development District was held on Wednesday, January 16, 2026 at 4:00 p.m. at the Corsica Club 24455 S.W. 119th Avenue, Miami, Florida.

Present and constituting a quorum were:
Yani Lopez Castillo	Chairperson
Maillie Jo Lopez	Vice Chairperson
Teanna Peralta	Assistant Secretary Also present were:
Ben Quesada	District Manager
Juliana Duque	Governmental Management Services (by phone)
Gabriella Fernandez	District Counsel
Ginger Wald	Billing, Cochran, Lyles, & Ramsey, P.A. (by phone)
Steve Sanford	Bond Counsel (by phone)
Juan Alvarez	District Engineer (by phone)
Wendy Lopez	HOA Property Manager (Corsica)
Nicole Agon	Lennar Homes

FIRST ORDER OF BUSINESS	Roll Call
Mr. Quesada called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Approval	of	Minutes	of	the
October 16, 2025 Meeting
Mr. Quesada: With that, I will go to section No. 2 on the agenda, which is approval of the minutes for October 16, 2025. Yani, were you able to catch where the typo of your name was?
Mr. Castillo: No, I don’t have the exact area but, it was on page 6.
Mr. Quesada: Ok, page 6, so if there are no other comments from the Board, and Yani caught a typo on his name, I would ask for a motion from the Board to approve the minutes from October 16, 2025 as amended.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, the Minutes of the October 16, 2025 Meeting as amended were approved.	
THIRD ORDER OF BUSINESS	Discussion of Financing Matters
(Expanded Area)
Ratification of First Amended Notice of Establishment Amended by Ordinance #25-119
Mr. Quesada: Jumping into the discussion of the financial matters to the expanded area, and ratification of the first amended notice of establishment amended by Ordinance #25-119. It’s my understanding this has already been approved by the Board but it’s for ratification, and Juliana is on the line to be able walk you guys through the process if you have any questions.
Mr. Castillo: Can you confirm the page of the agenda? Ms. Lopez: Page 17.
Mr. Quesada: Page 17.
Ms. Duque: Thank you Ben. The first item is the first amended notice of establishment as amended by Ordinance #25-119. This updates the legal description and also reflects the expanded boundaries approved by Miami-Dade County and you have it in the agenda as a ratification so that the Board acknowledges that the ordinance ensures that the District’s records and what is recorded in the public records matches the expanded area where those improvements and also the assessments will occur. I don’t know if Ginger would like to add anything to this item before we request a ratification from the Board.
Ms. Wald: No, you said exactly what it is. Mr. Quesada: Thank you both.
Ms. Duque: Thank you Ginger.
Mr. Quesada: Are there any other comments from the Board, if not, I’ll ask for a motion to ratify the first amended notice of establishment.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, ratifying the First Amended Notice of Establishment Amended by Ordinance #25-119 was approved.	

Acceptance of Supplemental Engineers Report
Mr. Quesada: Moving on to section B, the acceptance of the supplemental engineers report, and your engineer is actually joining us today, Juan Alvarez. Hello, Juan.
Mr. Alvarez: Hello Ben, it’s good to see all of you now you can see my screen. Mr. Quesada: Go ahead Juan.
Mr. Alvarez: Ok, well the supplemental engineers report is in your agenda, and you might have had a chance to review it but, I will just summarize the facts in the engineers report. The engineers report has to do with the additional area to the CDD which consists of 9.36 acres and with these 9.36 acres there is going to be 114 condominium units, and this expansion to the CDD was approved by Miami-Dade County on December 26, 2025 just last month. The purpose of the engineers report is to describe all the different structures that’s going to be within the expansion area and just adjacent to the expansion area. What’s inside the development area it is called the onsite improvements and what is just outside which consists of some improvements on 246th Street, that’s what we call the offsite improvements. So table #1 in the report on page 2 shows who is going to own what at the end. The CDD is going to own the onsite roads and the stormwater drainage systems. The county is going to own the water and sewer system, the sanitary lift station and it’s going to own also the offsite improvements, whatever is constructed on 240th Street. The homeowners association it’s intended to own the landscaping and the irrigation areas within the expansions areas. The CDD is going to finance the roads, the stormwater drainage system and the water and sewer systems and we estimate that all four of those components area going to cost about $11,255,000. Now, the drawing that’s fully permitted as you may have seen it’s already basically finalized because construction is almost finalized. The interior roads have already been paved with the exception of the final layer of asphalt but, the project is very much advanced. So, in the report you can see the location map and you can see the original development and on exhibit #2 you can see recorded plat, and on page 3 and 4 and the rest of the pages are details of how we arrived on the estimated costs, the
$11,255,000. So, in summary that is the report and I’d be happy to answer any questions that you may have.
Mr. Castillo: Do we have any insight on some of the county work, either for the expansion of 240th or the widening on 248th like what the lighting infrastructure, the traffic calming measures would look like? Has the county anything to that affect?

Mr. Alvarez: No, what’s being done on 240th is just a widening the road for additional back up traffic is, nothing for having traffic calming or anything like that. The traffic is supposed obey traffic speed limits and all of that but, there is nothing special providing traffic calming.
Mr. Castillo: Ok.
Ms. Peralta: What about the widening of 248th?
Mr. Castillo: Well, what he’s saying is that it’s supposed to follow the same, so you know how it goes from 2 into 1, the traffic flow will be the same but, I would imagine at some point that 2 lanes becomes 1, and become a two-way, but it has to become 1 again, I guess when it gets to the high school, there’s an opening and you can widen it again there but, eventually that will go back. It’s essentially right what we have today further down the road.
Ms. Peralta: I see.
Ms. Lopez: Because it says road widening on 248th.
Mr. Castillo: Right, so directly in front to where it would force it to end, leading up to the high school, you know how it goes from a 2-lane road to a 1-lane road.
Ms. Lopez: Yes.
Mr. Castillo: So, what I’m saying is eventually that becomes a 1-lane road so they’re kicking it back.
Ms. Lopez: Ok.
Mr. Alvarez: In your agenda there are the construction plans for the offsite plat. Mr. Quesada: Right.
Mr. Castillo: I have no other questions at this point.
Mr. Alvarez: I don’t think the paving and grading plans are in your agenda but, I’d be really happy to share them with the District manager, and he can share them with you.
Mr. Castillo: Ok.
Mr. Alvarez: So, you can see exactly what being constructed. Mr. Quesada: Thank you Juan, I appreciate that.
Mr. Alvarez: Ok.
Mr. Castillo: I motion to accept the engineering report as presented.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, accepting the Supplemental Engineers Report in final substantial form was approved.	

Mr. Quesada: Thank you Juan. Mr. Alvarez: You’re welcome.

Acceptance of Master Assessment Methodology
Mr. Quesada: Juliana, the next one we have is the acceptance of the master assessment methodology report on page 43 of your agenda.
Ms. Duque: Thank you Ben. So, the master assessment methodology report allocates the total project and also financing costs to the affected properties in a manner that is fair, reasonable and also proportional to the special benefit that each of those parcels will receives. So, the report is up to $13,000,000 in CDD bonds for the Silver Palm West expansion area which is Tract A, and it’s allocated to be 114 condominium units that benefit from those expansion area improvements. This report for the Board pretty much explains that the District will finance the expansion area project which was mentioned already by Juan, the roads, the stormwater, water and sewer, with those special assessments bonds and will allocate that debt only on Tract A which is the 114 condo units in Solstice. Now, the master assessment methodology uses the series of tables to walk through private costs to the community assessment in a logical sequence and that perhaps the best way for the Board to go through this report. So, table 1 shows the development plan for the expansion area as I just mentioned, and also mentioned by Juan, there’s 114 condominium units in Tract A, and each of those units are assigned 1 ERU. It pretty much confirms and for the purpose of the methodology that there is a single residential product type and that all of those 114 units are treated equally and benefit in the assessment allocation. Then you have table 2 which is the estimated construction costs, this table summarized the engineer’s construction costs estimated which was presented already by the District engineer, and it’s broken down into the roadway improvements, the stormwater management, water system, the sanitary sewerage, and you will see the amount of each one of those totally the $11,255,000 mentioned by Juan, and this is what we call the project costs that the bond financing must cover, of course along with other financing costs but, it is the cost base use to measure and also allocate the benefit on the later tables that I’m

going to walk you through. So, table 3 is the bond sizing this shows how the $13 million par bond size derived from the $11,255,000 which are the construction needs plus the debt service reserve, the capitalize interest, the underwriters discount and also the issuing cost. Now, it also lists the bond assumptions which is the 7% interest rate, there is a 30 year amortization, 12 months capitalized interest, and there is a reserve equal to 100% of MADS on the 2% of the underwriters discount. Now, this is important for the Board just to have in mind because as you know this is master assessment methodology report, and the master assessment sets the overall structure and other supplemental reports will update pieces of that infrastructure, meaning the interest rate and also related bonds assumptions. So, that 7% will change and we’ll use what the percentage is at that moment we’re issuing bonds. Now table 4 shows the allocation of the total project costs which will allocated the $11,255,000 total project costs across those 114 condo units using the approach that I mentioned at the beginning which is the ERUs approach, each unit receives 1 ERU, and since all of the units have the same ERUs, each one of them are assigned the same share of the project costs which is approximately $98,728.07 per unit. Now let’s move to table 5, and that is the bond allocation of the par debt and also the annual assessment, so this table takes the $13 million and allocates it across the same 114 units, or ERUs, producing a par debt allocation of about $114,035.09 per condo but, once again, this is the master assessment methodology report and as the Board is aware there is a declaration of covenants which is recorded with the county and that declaration of covenants sets that maximum amount that can be levied on each unit, and that amount is the amount that we need to follow as well. Now, table 6 is the preliminary assessment roll, this table shows the initial assessment at the Tract level as far as the total project costs and the full par debt and then it also shows the full annual MADS which is $1,047,623 and this in on the expansion area which is the 8.65 acres. Now the report explains that as folio numbers for these units are finalized this Tract level allocation will be converted from a per acre to a per unit basis consists with the unit and the ERUs that I explained already on the tables, so this is pretty much the master assessment methodology report.
Mr. Quesada: Any questions for Juliana on the methodology report? Mr. Castillo: Not on the report itself, not on my end.
Ms. Peralta: I have nothing.

Mr. Quesada: Ok, so I’d ask for a motion from the Board to accept the master assessment methodology report.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, accepting the Master Assessment Methodology in substantial final form was approved.	
Mr. Quesada: I know we had some other people that called in, Steve Sanford is bond counsel, and someone else also called in from Lennar, I think it was Nicole, so we do have some other people in attendance but, Juliana do you want to go over resolution #2026-01 declaring special assessments?
Ms. Duque: Sure, Ben.

Consideration of Resolution #2026-01 Declaring Special Assessments
Ms. Duque: So, with this Board is pretty much, it’s like a formal declaration that intends to levy the assessments. So, this resolution references the supplemental engineers report and also the master assessment methodology report and it declares that the costs that are identified in those reports are to be paid in full or in part by special assessments on those specific properties. So it generally describes the project, identifies the assessment area, and directs the staff to prepare and also maintain that preliminary assessment roll moving the District from platting to a formal assessment process, which the Board is very familiar with this, and this is the way the current bonds that were issued and being paid by the rest of the community. So, that’s pretty much it, Ben, so a motion to approve resolution #2026-01 declaring special assessments will take place.
Mr. Castillo: Any questions? Ms. Peralta: No.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, Resolution #2026-01 declaring Special Assessments was approved.	
Consideration of Resolution #2026-02 Calling for a Public Hearing to Impose Special Assessments
Mr. Quesada: Next you have resolution #2026-02 calling for a public hearing to impose special assessments on page 61.

Ms. Duque: Ben, I’m sorry, I’m hearing like Nicole, I don’t know if someone else has their phone on?
Mr. Quesada: I think it might be Steve having background noises. Mr. Sanford: Ok, I’ll mute my phone.
Mr. Quesada: Thank you Steve. Can you hear us now Juliana?
Ms. Duque: Yes, I can hear you now, so we’re going to resolution #2026-02, right

Ben?

Mr. Quesada: Yes, please.
Ms. Duque: Ok, so resolution #2026-02 is the resolution that pretty much ensures

that notice and also the due process for those affected landowners, so this sets the date, time and also location of the public hearing at which the Board will consider adopting the final assessments and it also authorizes mailed and publish notice to all of those affected property owners. So, as I just stated, this typically approves the form of that notice and also instructs the staff to provide the statutory requirements and advice of that hearing to the landowners. So, Ben, the next meeting for me to set that date and time for the public hearing, and perhaps you can check on the calendar.
Mr. Quesada: Sure.
Mr. Castillo: Juliana, does the hearing notice, is that going to all of Silver Palms West, or at least the affected owners, but theoretically there’s no one over there yet, so is that notice coming to this established community or is it going somewhere else?
Ms. Duque: It goes to the existing landowner of the annexed area, Yani. Mr. Castillo: Ok, so then is that us?
Ms. Fernandez: No.
Mr. Castillo: Ok.
Ms. Wald: Yani, it’s going to the listed landowner over there which to my knowledge is Lennar, just Lennar.
Mr. Castillo: Ok got it, that makes sense. Do you have any questions? Ms. Lopez: No.
Mr. Castillo: Alright, I motion to accept resolution #2026-02.
Mr. Quesada: Well, we haven’t discussed, we haven’t set the date, correct Juliana? Ms. Duque: Yes, that is correct.
Mr. Quesada: Ok.

Mr. Castillo: So, what’s the timeline?
Mr. Quesada: What is the timeline as far as setting the public hearing, Juliana, I don’t know, is there a statute?
Ms. Wald: You have to get the advertisement in, you need at least a month.
Mr. Quesada: Ok, I have a scheduled meeting, let me see, and obviously we can always do a special meeting if necessary but, I have the calendar in front of me, so our next advertised meeting is February 19th, so if you think that would be sufficient Ginger? Ms. Wald: I don’t know, that’s up to you guys because you have to do the advertisement and get the letters out. I don’t know if that’s enough time for your staff to
act on it.
Mr. Quesada: Ok, Juliana, in your experience do you think that’s cutting it close? Ms. Duque: I’m sorry, can you hear me Ben?
Mr. Quesada: Yes, I can hear you, fine, can you hear us ok? Ms. Wald: I can hear you.
Ms. Duque: Yes, I can hear you. So, we need at least 30 days Ben, to be able to advertise, if we provide the information to Jennifer she’ll be able to have it ready for the upcoming meeting in February, the letter is ready to be sent out. My only concern with that is that today is the 15th and the letters wouldn’t be able to go out until perhaps tomorrow or lastly the 17th, so that’s my only concern Ben but, we have done it in the past, it depends on the Board.
Mr. Quesada: Ok, well, again, so February 19th is 5 weeks away, and I do know also we have a holiday on Monday which I don’t think the post office is going be open.
Mr. Castillo: I mean if we need to have a special meeting, we’re ok with that. Ms. Lopez: Yes.
Mr. Quesada: Ok, so you can have either a meeting in February or in March if that works for the Board.
Ms. Wald: Wait, hold up, if your meeting is the 19th, and Jennifer would have to get the letter out, well she’d have to get it out tomorrow, unless she has it prepared already.
Mr. Quesada: Yes, and Monday too with the holiday. Ms. Wald: Yes.
Ms. Duque: Yes, the letter is prepared Ginger but, my concern is the holiday on Monday.

Ms. Wald: Yes, it’s a holiday on Monday, so that’s not enough time. Mr. Quesada: Ok.
Ms. Wald: You could do the next week.
Mr. Castillo: I’m available on the February 26th. Ms. Lopez: I’m available on the 26th.
Mr. Castillo: Does the 26th work for you?
Mr. Quesada: I’ll make it happen, if not, I can always have somebody cover for me, but let me see. Yes, I do have a meeting, but I can have other people cover, so I would prefer to be here that day, so yes, February 26th at the same time is ok with everybody.
Mr. Castillo: Yes. Ms. Lopez: Yes. Mr. Quesada: Ok.
Ms. Duque: Ben, sorry, you said you would not be able to make it.
Mr. Quesada: No, well South Dade is that day but, I mean we have other people there, there’s another District manager involved so I can be here and then they can cover me in that meeting, so I’m good.
Ms. Duque: Ok.
Mr. Quesada: So, going back to the discussion, we had a motion on the table to approve resolution #2026-02 calling for a public hearing to impose special assessments. We do ask that it be included in the motion that we set a special meeting for the public hearing on February 26th at 4:00 p.m. at this location, by saying so moved, you agree with the motion.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, Resolution #2026-02 calling for a Public Hearing to Impose Special Assessments setting a Special Meeting on February 26, 2026 at 4:00 p.m. at 24455 SW 119th Avenue, Miami, Florida was approved.	
Consideration of Resolution #2026-03 Bond Authorizing Resolution
Exhibit A – Form of Second Supplemental Trust Indenture
Mr. Quesada: Next is consideration of resolution #2026-03 the bond authorizing resolutions, Juliana?

Ms. Duque: Yes, and Ben do you have Steve Sanford on the line, and Steve is our bond counsel.
Mr. Quesada: Go ahead Steve.
Mr. Sanford: Yes, this is Steve, can you hear me? Mr. Quesada: Loud and clear.
Mr. Sanford: Ok, so this is Steve Sanford from Greenberg, Traurig serving as the District’s bond counsel. This resolution #2026-03 is what I call the authorizing validation resolution, anytime the District is going to issue bonds that has a majority of more than 5 years the bonds and the purpose of the bonds needs to be validated in the circuit court. In order to get into circuit court the Board of Supervisors has to authorize a Series of bonds, or one or more Series of bonds to finance certain described public infrastructure, that’s what this resolution is doing. It’s authorizing a principal amount of bonds not exceeding $13 million that does not bind the Board to issue that amount of bonds, that’s just an estimate based on the assessment methodology that Juliana went through. This resolution nominates US Bank who is your current trustee to serve as the trustee for these bonds in the exhibit to this resolution, it’s the form of the second supplemental trust indenture between the District and US Bank as your bond trustee that is an exhibit to the resolution and becomes part of the validation proceedings. Once the bonds are validated we’ll come back to the Board and another resolution approving other documents and having more detail regarding the particular Series of bonds that we’re going to issue. Two things I want to point out is, one these bonds will not, the assessments that will secure these bonds are only going to be levied on the expansion area so the residents and the landowners that were named part of the District will not be affected by these bonds, and secondly, even though the expansion was 9.3 acres there’s a Tract of land for the stormwater facilities which will not be assessed, so I think you might have heard earlier on from Juliana that the lien will only be on the difference between the 9.3 and the other Tract of land, so that will be basically the assessment area to secure these bonds. If there are any questions I’ll be glad to answer, otherwise, we’d be looking for a motion to adopt resolution #2026-03.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, Resolution #2026-03 the Bond Authorizing Resolution was approved.	

Mr. Quesada: Thank you Steve. Mr. Sanford: You’re welcome.
Ms. Wald: Ok, and with that I’m going to go to my meeting, I was just here for the bond validation, thank you everybody.
Mr. Quesada: Thank you Ginger.
Ms. Duque: Same here, Ben if you need anything just let me know. Thank you to the
Board.
Mr. Castillo: Thank you Juliana. Mr. Quesada: Thank you Juliana.
FOURTH ORDER OF BUSINESS	Discussion of Resolution #2026-04
Manager Discretionary Spending Authority
Mr. Quesada: Ok, so at the last meeting, Yani if you recall there was a request and we had discussed possibly a discretionary amount for the manager to approve between meetings. So, I just wanted to confirm and have it brought back to the back to the Board, now that it’s been drafted.
Mr. Castillo: Ok.
Mr. Quesada: So, just formally, I would ask for a not to exceed amount of $10,000 for the manager to have discretion within an approved line item in the budget between meetings for any maintenance issues that may arise.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, Resolution #2026-04 manager discretionary spending authority amount not to exceed $10,000 was approved.	
FIFTH ORDER OF BUSINESS	Appointment of Audit Selection
Committee
Mr. Quesada: Moving on to page 137 of your agenda, we’re going to start the audit selection committee meeting. The first thing is, and if I’m not mistaken this Board has already been part of one before.

Mr. Castillo: Yes. Ms. Lopez: Yes.
Mr. Quesada: But it’s just that there’s been some new language that’s come out and we’re actually able to come to an agreement with an auditing firm for an extended time period, and at any time that can be revisited on a year to year basis, it’s not like you’re stuck with somebody for 5 or 10 years but, it’s just helps for anticipating fees on what the audit is going to cost since they disclose pricing for the entire time they’re auditing so it makes life a lot easier. Before we do that I would need the Board to appoint an audit selection committee and in this case, the manager recommends that the Board of Supervisors appointment itself as the audit selection committee, and I would need a motion to do so.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, appointing the entire Board of Supervisors to serve as the Audit Selection Committee was approved.	

Audit Selection Committee Meeting
Opening Audit Selection Committee Meeting
Roll Call
Selection of Criteria for Evaluation
Authorizing of RFP
Adjournment
Mr. Quesada: Now I need a motion to open the audit selection committee meeting.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, opening the Audit Selection Committee Meeting was approved.	

Mr. Quesada: Roll call, for the record, I can state that the audit selection committee consists of Yani Lopez Castillo, Mailie-Jo Lopez and Teanna Peralta, and with that we’ll jump down to page 140 which is the selection of the criteria, and since you guys have done this before I just tell you that basically the statutory requirements is that you have at least 4 criteria and you would assign in that scenario 20 points for the ability and personnel, proposer’s experience, understanding of the scope of work, and the ability to furnish the required services, and GMS as the management company always recommends that we ratify the criteria and add a fifth one which is price and assign equal value to each of those

criteria with 20 points. If there are no comments or requests from the Board regarding that, I would ask for a motion from the Board to accept the criteria for evaluation.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, accepting the criteria for evaluation was approved.	

Mr. Quesada:	Then I would just need a motion from the selection committee to authorize the RFP, the request for proposals for the auditing firm.
Mr. Castillo: We have it here, right?
Mr. Quesada: Yes, that’s the RFP, correct.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, authorizing the RFP was approved.	

Mr. Quesada: And lastly I would just need a motion to adjourn the audit selection committee meeting.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, the Audit Selection Committee Meeting was adjourned.	
SIXTH ORDER OF BUSINESS	Staff Reports
Mr. Quesada: Back to the Silver Palms West meeting, we have staff reports, Gabriella, anything you want to report to the Board?

Attorney
Ms. Fernandez: I have nothing specific to report, unless you guys have any questions for me.
Mr. Castillo: None on this end, I guess it’s two part, are we going to visit the last requests on the resolution to approve, it that under management or is that internal?
Mr. Quesada: Yes, we just wanted to know, so what is that’s required when it comes to financial reports on an agenda, I guess is more his question because he just wants anything, and correct me if I’m wrong, and I’m paraphrasing but you can always correct me, that anything that’s already been like an agreement, that’s already been preapproved in our budget, rather than having every meeting have to have the approval thing, my understanding

is, to an extent, most of that is a management decision so I’m the one serving as platform and just minimize sharing the details of that report, and then he just wanted to know what is the legal requirement I guess.
Mr. Castillo: So, the big ask was for the District manager or a resolution if it’s resolution bound or internally through management or have the District manager approve all routine budgeted amounts in recurring payments rather than having it presented to the Board for approval.
Ms. Fernandez: I believe it’s just a motion, I don’t think it’s by resolution, but I can ask but, I believe a motion is sufficient just to have the District manager to approve the financials.
Mr. Castillo: Ok, that’s fine, put it on the agenda as informational but, to omit that requirement with like a motion to approve.
Ms. Fernandez: Yes, and I can text Ginger and ask her but, I’m pretty sure it’s just a motion.
Mr. Castillo: Ok.
Mr. Quesada: Thank you.

Engineer – SW 120th Ave Paving, Grading & Drainage Plan
Mr. Quesada: I’ll jump into engineering, and so at the end of the last meeting also there was a question and a request from the Board to look into 120th Street, some of the development that’s going on.
Ms. Lopez: 120th Avenue?
Mr. Quesada: Yes, 120th Avenue that there’s some development going on there from the county, it’s a county road, and it pertains to one of the intersections, District road on 240th and we received some good news from the engineer that the county does plan on connecting that road within its approved plan so we went ahead and we included those plans on page 141, and it appears as though you are going to have another road of egress to the community.
Ms. Lopez: So, is that 120th? Is the county doing the road?
Mr. Castillo: So, my understanding from the onset of the project is that it’s always been county, and whoever is doing it, I guess the question from us Ben, or the request is that the drainage, we’re not sure if it’s District owned or county owned too, but they are

getting crossed so we just wanted to know who owns it, and two how do we approve a resolution to that.
Ms. Lopez: Is it going to affect us.
Mr. Castillo: And then the second part of that question is also, on 240th specifically, that intersection, so 120th and 240th, what is the lighting situation, what it will look like, what is traffic calming going to look like. I don’t know if this is the time to say it but, I’m happy that they’re opening it up, it’s great, we welcome that, but it’s like run on.
Mr. Quesada: No problem, I think our engineer can help us with a lot of those questions so, I’m going to circle back to him anyway about the request you had about 248th and the widening, so I’ll make it an all-encompassing that I request that information and bring it back to the Board.
Ms. Lopez: Yes, please, especially the lighting.
Mr. Quesada: And like I said, as far as the storm drain concerns you have, I know for a fact, and in this case you can look on your engineers report or your map, if the District doesn’t own the road, its not responsible for the maintenance of the stormwater portion. So, in that case, let me talk to him because maybe he has contacts, and I also have contacts with the builder, and I would prefer to go to the county but, it seems like no matter who is doing the work, the county is the one overseeing it, so if I need to I’ll go that route but, as a courtesy I’ll reach out to go to the company that’s doing the work and see what’s going on first.
Ms. Lopez: Ok, perfect.
Mr. Quesada: So, go ahead and make the motion, Yani.
Mr. Castillo: So, I’ll put a motion to the floor to grant authority to the District manager to approve routine budgeted and recurring payments and only report to the Board for informational purposes rather than approval.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, authorizing the District manager to approve routine budgeted and recurring payments and only report to the Board for informational purposes rather than approval was approved.	
Mr. Quesada: Thank you Yani, I appreciate that.

Field – Monthly Report
Mr. Quesada: Going into page 148, your field report, the main thing there is and I already addressed today, is the CDD that were installed with the holiday lighting, I know they were late on some of those things, so I did speak to Yani, the Chairman, before the meeting and we’re going to have a conference call with the contractor, and they’re offering a 5% discount to all stakeholders in the agreement but, I think they can do better than that to be honest. So, we’ll have a conversation with them and we’ll bring an update at the next meeting as far as the impact to the community and obviously the joint participation agreement, so I’m sure it will assist the HOA as well in your efforts.
Mr. Castillo: There is also a question with regard to line items of truck rentals, we obviously know truck rentals were a part of the initial need for the lights to go up, what we’re not understanding if it was a one time rental. There’s 10 line items for truck rentals, and so was it an initial rental for 10 trucks, or was that each line item for a visit out to the community, so just clarification as to how, we’re not necessarily disputing the cost but how did we get to 10, so we understand.
Mr. Quesada: Understood, I’m happy to set up a call. Mr. Castillo: Ok.
Mr. Quesada: So, we’ll take care of that. Any other questions while we’re covering the field?
Mr. Castillo: Not field related but, are we good, we haven’t had any more issues with lighting on the monuments, right?
Mr. Quesada: I haven’t had any other issues to take on. (inaudible comment) I do think we discussed that and maybe there’s some improvement projects that we can talk about as the year goes on, it should make things a little bit easier on everybody.

Manager
Mr. Quesada: I have nothing else to cover under manager.

SEVENTH ORDER OF BUSINESS	Financial Reports
Acceptance of Check Register
Acceptance of Unaudited Financials
Mr. Quesada: Next we have the financial reports, and we were able to make the adjustment, so you have your check register on page 168 and on page 171 you have your unaudited financials. In one motion you guys can accept your financial reports.
Mr. Castillo: Ok, and just one item so on page 168 check #182 to #186, totally $1.4 million, that’s the payout or receivables?
Mr. Quesada: Give me one second. Yes, so it’s receivables, correct, and you guys do have, I just want you to know you do have something like a nest egg which is the State Board operating account, that’s the only account that a CDDs can have that accrues some amount with interest, so obviously it’s a no brainer for you guys, but obviously we also have to be total liquid, so that’s kind of what’s going on there, but it is receivables to answer your question.
Mr. Castillo: Ok, perfect, so I no questions from me.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in
favor, the Check Register and the Unaudited Financials were accepted.	
EIGHTH ORDER OF BUSINESS	Supervisors	Requests	and
Audience Comments
Mr. Quesada: Any other Supervisor’s requests or any comments from the audience, and just for the record, other than the people I’ve already mentioned there are no other audience members at this time.
Mr. Castillo: No questions or other requests from me at this time. Ms. Lopez: None from me.

NINTH ORDER OF BUSINESS	Adjournment
Mr. Quesada: Ok, hearing none, I would ask for a motion to adjourn.

On MOTION by Mr. Castillo seconded by Ms. Lopez with all in favor, the meeting was adjourned.

Secretary /Assistant Secretary	Chairman / Vice Chairman

Silver Palm West Community Development District

First Supplemental
Engineer’s Report for the Expansion Area
Infrastructure Improvements

Prepared for
Silver Palms West Community Development District Board of Supervisors
Miami-Dade County, Florida

Prepared by
Alvarez Engineers, Inc.

8935 NW 35 Lane, Suite 101
Doral, FL 33172
Telephone 305-640-1345

E-Mail Address: Alvarez@Alvarezeng.com

Accepted January 15, 2026

TABLE OF CONTENTS

Narrative
Introduction	1
Purpose of this Engineer’s Report	1
District Land Composition, Ownership and Easements	2
Description of the Public Infrastructure	2
Ownership and Maintenance	3
Permitting Status	4
VII Schedule of Construction	4
Estimate of Public Infrastructure Costs	5
Engineer’s Certification	5
Appendix
Exhibit 1,	Location Map	7
Exhibit 2,	CDD Boundary Map	8
Exhibit 3	Solstice Plat Page 1	9
Exhibit 4	Solstice Plat Page 2	10
Tables (Estimate of Construction Costs Details)
Estimate of Construction Costs	11 - 16

Introduction.
The original Silver Palms West Community Development District (herein referred to as the “Original District,” or “Original CDD”) was established by the enactment of Miami-Dade County Ordinance No. 20-126 on December 1, 2020. Such ordinance became effective ten days later on December 11, 2020. The Original District measures approximately 78.86 acres and contains 182 single-family homes, 253 village units, and 217 townhomes, for a total of 652 residential units. As of the date of this Supplemental Engineer’s Report, the public infrastructure supporting the development within the Original CDD, as described in more detail in the Engineer’s Report for Silver Palms West Community Development District prepared by Ford Engineers, Inc., dated January 15, 2021, has been substantially completed.

In May of 2025, the Board of Supervisors of the District petitioned the Board of County Commissioners of Miami-Dade County to expand the boundaries of the CDD by adding approximately 9.36 acres to the Original District planned for 114 condominium units. The expansion was approved by the County Commissioners by enacting Miami-Dade County Ordinance No. 25-119 on December 16, 2025. Such Ordinance became effective ten days later on December 26, 2025 (the “Expansion Area”).

The expanded District now contains 88.22 acres and 766 residential units, of which 78.86 acres and 652 residential units are in the Original District and 9.36 acres and the planned 114 residential units are in the Expansion Area.
The Expansion Area is generally bounded by theoretical SW 125 Avenue on the west, SW 248 Street on the north, theoretical SW 124 Avenue on the east, and theoretical SW 250 Terrace on the south (refer to Exhibits 1 and 2).

The north 40-feet of the Expansion Area, representing 0.62 acres, was dedicated to Miami-Dade County for additional 240 Street road right of way. The remaining 8.74 acres of the 9.36-acre Expansion Area was platted under the name “Solstice” and was recorded at Plat Book 179, Page 14 of the Public Records of Miami-Dade County. The platted area contains two tracts: Tract “A” measuring 8.65 acres for the 114 condominium units, and Tract “B”, measuring 0.09 acres for a sanitary sewer lift station. Tracts “A” and “B” constitute the 8.74-acre development known as “Solstice” (the Development”).

The District will partially finance the public infrastructure that supports the Development. The current owner of the land of the Development is TPG AG EHC SD (LEN) MULTI STATE 1, LLC. The developer of the Development is Lennar Homes LLC (the “Developer”).

The Development consists of the construction of the 114 condominium units with associated roadway improvements, stormwater drainage, potable water, and sanitary sewer collection systems. The roads, drainage, water, and sewer systems constitute the improvements to be partially financed by the District and are hereinafter referred to as the “Public Infrastructure.” Such Public Infrastructure is estimated to cost approximately $11,255,000.
Purpose of this Engineer’s Report.
The District will partially finance the acquisition or construction of the Public Infrastructure that supports the Development. This Supplemental Engineer’s Report (the “Report”) was prepared for the purpose of describing the following: (i) The composition of the land within the Expansion Area and the intended future ownership of the tracts and easements to be granted; (ii) The Public Infrastructure; (iii) The future ownership and entity responsible for operating and maintaining of the Public Infrastructure; (iv) The current status of construction permits; (v) The intended schedule of construction and; (vi) The estimated Public Infrastructure construction costs.

Composition of the Land Within the Expansion Area, the Intended Future Ownerships, and the Grant of Easements.
The 8.74-acre Development contains two tracts: Tract “A” and Tract “B” (Refer to Exhibits 3 and 4). Tract “A” contains the planned 114 residential units, open areas, and platted easements for public utilities and ingress-egress purposes (See Exhibit 4). The onsite Public Infrastructure will be constructed within those platted easements. Tract “B” is reserved for the sanitary sewer lift station.

The table below lists the recorded tracts Identification, their use, surface areas, and intended future ownership.

Table 1: CDD Area Composition and Future Ownerships	

Tract ID	
Use	Square Footage	
Acreage	Future Ownership	
				CDD	HOA	County	Private	
A	Condo. Residences, Utilities, Public
Infrastructure.	376,709	8.648					
A	Condo. Residences	Incl. Above	Incl. Above				X	
A	Onsite Roads in Ingress-Egress
Easements.	Incl. Above	Incl. Above	X				
A	Stormwater Drainage System in
Ingress-Egress Easements.	Incl. Above	Incl. Above	X				
A	Water and Sewer Systems in Public
Utility Easements	Incl. Above	Incl. Above			X		
A	Landscaped and Irrigated Open
Areas	Incl. Above	Incl. Above		X			
B	Sanitary Lift Station	3,900	0.090			X		
Sub-total	Development Area	380,609	8.738					
ROW	Dedicated 240 St Right of Way	27,094	0.622			X		
Total CDD Expansion Area	407,703	9.360					

Description of the Public Infrastructure.

The Public Infrastructure, as described in this Report, consists of roadway improvements, stormwater management and drainage, and water and sanitary sewer improvements that will give service and access to the Development located within the Expansion Area. The proposed Public Infrastructure, as outlined herein, is necessary for the functional development of the Expansion Area and provides a direct and special benefit to the assessable lots within the Expansion Area, as described in the Assessment Methodology Report prepared by Governmental Management Services – South Florida, LLC.. All CDD improvements will be constructed on land owned or to be owned by the District or other units of local government, or on land subject to perpetual easements for such purpose.

Roadway Improvements.

The roadway improvements to be financed by the District include the construction of roads in platted public utility and ingress-egress easements and in County right of ways. The Miami-Dade County Mobility Impact fees are part of the roadway improvements as described below. Refer to the approved set of Paving, Grading, And Drainage Plan for Solstice as prepared by Schwebke Shiskin + Associates.

Onsite CDD Right of Ways: Two-lane, inverted crown roads with concrete header bands on each side.

County Right of Ways: Road widening on SW 248 Street with curbs and gutters and sidewalks.
The Developer intends to grant the CDD the necessary easements at no cost for the construction of the Public Infrastructure.

The Miami-Dade County Road Mobility Impact Fees are included in the estimated cost of CDD roadway improvements. The Developer intends to advance the funds to pay for the impact fees on behalf of the District.
The District will not finance the cost of any earthwork that involves the transportation to, or the spreading or grading on, the private lots.

Stormwater Management and Drainage Facilities.
The District will fund the construction or the acquisition of the completed drainage system that supports the Development. Once the drainage system is completed and conveyed to the District, the District will transfer to the County the portion of the drainage system that is located within County-owned right of ways for permanent ownership and maintenance and will retain the remainder of the drainage facilities for ownership and maintenance.

Refer to the approved set of Paving, Grading, And Drainage Plan for Solstice as prepared by Schwebke Shiskin + Associates for details of the drainage facilities.

Water Distribution and Sewer Collection Systems.
The construction of the water and sewer systems is included in the Public Infrastructure. The systems extend from the point of connection with County facilities to the property lines of the residential lots.

The Developer intends to grant the District, at no cost, the necessary easements for constructing and accessing these improvements. The District intends to convey to the County the completed water distribution and sewer collection systems for future ownership and maintenance.

The Connection Charges for water and sewer are included in the estimated costs of the Public Infrastructure improvements. The Developer intends to advance the funds to pay for the connection charges on behalf of the District.
Refer to the approved set of Water & Sewer and Lift Station plans for Solstice as prepared by Schwebke Shiskin + Associates for details of the water and sewer facilities.

Ownership and Maintenance.
The District will partially finance the acquisition and/or construction of the Public Infrastructure. It will then transfer certain of the improvements to the following agencies for ownership and maintenance:

Table 2	
Description	Future Ownership	Future Maintenance	
Road Improvements in County Right of Ways	County	County	
Onsite Road Improvements in Ingress-Egress Easements	CDD	CDD	
Stormwater Drainage Systems in County Right of Ways	County	County	
Onsite Stormwater Drainage Systems in Ingress-Egress
Easements	CDD	CDD	

Table 2	
Description	Future Ownership	Future Maintenance	
Water Distribution System	County	County	
Sanitary Sewer	County	County	
Open Landscaped and Irrigated Areas	HOA	HOA	

Permitting Status.
Table 3 reflects the permitting status of the Development as of the date of this Report.

Table 3	
Permit	Agency	In Process	Approved	Date/Anticipated	
Ordinance to Expand the CDD	County		X	December 16, 2025	
T-Plat 25160	County		X	April 11, 2025	
Final Plat Recorded	County		X	September 4, 2025	
DERM Class VI Permit	County		X	April 21, 2025	
DERM Surface Water Mgmt. General Permit	County		X	April 21, 2025	
Sanitary Lift Station	County		X	March 26, 2025	
County Paving & Drainage Design Section	County		X	April 29, 2025	
County Tree & Forest Resources Section	County		X	April 29, 2025	
Env. Monitoring & Restoration Division	County		X	April 29, 2025	
Stormwater Drainage Design Section	County		X	April 29, 2025	
Highway Division – Roadway	County		X	April 29, 2025	
Water Control Section	County		X	April 29, 2025	
Pavement Markings Traffic Engineering Div.	County		X	April 29, 2025	
Department of Health	County		X	May 13, 2025	
Fire Department	County		X	May 8, 2025	
DERM Sewerage Facilities	County		X	May 12, 2025	
WASD Water and Sewer	County		X	May 5, 2025	

Schedule of Construction.
Table 4 reflects the intended schedule of construction of the Development as of the date of this Engineer’s Report.

Table 4	
Development	Earthwork and Drainage	Roads	Water and Sewer	
	Start	End	Start	End	Start	End	
Entire Site	Q2/2025	Q1/2026	Q2/2025	Q2/2026	Q2/2025	Q1/2026	

Estimate of Public Infrastructure Costs.

Table 5	
Infrastructure Component (1)	Total ($)	
Roadway Improvements (2)	6,388,000	
Stormwater Management	1,281,000	
Water System (3)	1,342,000	
Sanitary Sewers (4)	2,244,000	
Total	11,255,000	

(1)	Rounded Up to Nearest $1,000.
(2)	Includes County Mobility Impact Fees (f.k.a. Road Impact Fees) for 114 Condominium Units.
(3)	Includes Water connection Fees for 114 Condominium Units.
(4)	Includes Sewer connection Fees for 114 Condominium Units
Details of the estimates of costs may be found in the cost tables in the Appendix.

Engineer's Certification.

It is our opinion that the proposed improvements constituting the Public Infrastructure and their estimated costs set forth herein are fair and reasonable, and that the landowners and residents living within the Expansion Area within the District will receive a direct and special benefit equal to or greater than the cost of such improvements, and that the general public will also receive incidental benefits. We believe that the improvements comprising the Public Infrastructure can be permitted, constructed, and installed at the costs described in this Report. The District will pay the actual cost or fair market value of the Public Infrastructure, whichever is less.

I hereby certify that the foregoing is a true and correct copy of the Supplemental Engineer's Report for the Expansion Area of the Silver Palms West Community Development District.

This item has been digitally signed and sealed by Juan R. Alvarez, PE on the date adjacent to the seal.
Signature must be verified on any electronic copies.

Juan R. Alvarez, PE
Florida Registration No. 38522 Alvarez Engineers, Inc.
January 15, 2026
Signed & Sealed January 19, 2026.

APPENDIX

SW 232 ST

SW 124 AVE

SW 112 AVE

SILVER PALMS WEST

SW 127 AVE

CDD EXPANSION LOCATION

SW 248 ST

SW 252 TER

SW 256 ST

ALVAREZ ENGINEERS, INC.
SILVER PALMS WEST CDD EXPANSION
LOCATION MAP

0	1000'	2000'

	

SW 248 ST

CDD BOUNDARY

SW 249 ST

SW 248 TER

SW 249 TER

SW 250 TER

CDD BOUNDARY

SW 250 TER

SW 124 PL

SW 124 CT

ALVAREZ ENGINEERS, INC.
SILVER PALMS WEST CDD EXPANSION
CDD BOUNDARY MAP

0	100'

200'

CDD BOUNDARY

SW 124 AV

CDD BOUNDARY

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Silver Palms West CDD Expansion
Summary of Public Infrastructure Estimate of Construction Costs	
Description	
Estimated Costs (4) ($)	Estimated Construction Schedule (Quarter/Year)	
Infrastructure Component		Begin	End	Remarks	
Roadway Improvements (1)	6,388,000	Q2/2025	Q2/2026		
Stormwater Management System	1,281,000	Q2/2025	Q1/2026		
Water Distribution System (2)	1,342,000	Q2/2025	Q1/2026		
Sanitary Sewer System (3)	2,244,000	Q2/2025	Q1/2026		
Total	11,255,000				

(1) Includes Miami-Dade County Mobility Impact Fees for 114 townhomes	
(2) Includes Water Connection Fees for 114 townhomes	
(3) Includes Sanitary Sewer Connection Fees for 114 townhomes	
(4) Rounded up to the nearest $1000.00	

Silver Palms West CDD Expansion	
Public Infrastructure Estimate of Construction Costs	
SW 248 Street & SW 124 Avenue	
Item No.	Description of Work	Quantity	Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
DEMOLITION: ONSITE	
1	Sidewalk Removal	2,625	SF	$3.00	32.27	67.73	2,540.96	5,334.04	7,875.00	
2	Brick Pavers Removal	2,265	SF	$2.00	100.00	-	4,530.00	-	4,530.00	
3	Asphalt Removal	760	SY	$3.00	100.00	-	2,280.00	-	2,280.00	
4	Chain Link Fence Removal	955	LF	$6.00	32.27	67.73	1,848.85	3,881.15	5,730.00	
5	Wire Fence Removal	1,805	LF	$6.00	32.27	67.73	3,494.42	7,335.58	10,830.00	
6	Building Demolition (1-Story)	8,675	SF	$6.00	32.27	67.73	16,794.53	35,255.47	52,050.00	
7	Building Demolition (2-Story)	2,065	SF	$12.00	32.27	67.73	7,995.55	16,784.45	24,780.00	
8	MOT & Traffic Control	1	LS	$2,500.00	32.27	67.73	806.65	1,693.35	2,500.00	
Sub-total DEMOLITION: ONSITE	40,290.96	70,284.04	110,575.00	
EARTHWORK: ONSITE (BUILDING PADS AT +13.00 NGVD AND FINISHED ASPHALT AT +12.50 NGVD)	
1	Clearing & Grubbing	9	AC	4,500.00	32.27	67.73	13,067.79	27,432.21	40,500.00	
2	Silt Fence (No Maintenance)	2,635	LF	4.00	100.00	-	10,540.00	-	10,540.00	
3	Washed Rock Entrance	1	EA	5,500.00	100.00	-	5,500.00	-	5,500.00	
4	Proof Roll Site	36,155	SY	0.15	32.27	67.73	1,749.87	3,673.38	5,423.25	
5	Strip Site 6" & Stockpile	6,730	CY	2.25	32.27	67.73	4,885.90	10,256.60	15,142.50	
6	Over-Excavate & Stockpile (Boring B20 - B21)	570	CY	3.20	32.27	67.73	588.53	1,235.47	1,824.00	
7	Move to Green Areas	7,300	CY	2.90	32.27	67.73	6,830.74	14,339.26	21,170.00	
8	Excavate & Stockpile (Hot Spot Material)	5,000	CY	3.20	32.27	67.73	5,162.58	10,837.42	16,000.00	

9	
Hauling Away Hot Spot Material
Hauling Away Material To Waste Management (5,000 CY)(1.33) = 6,650 TN	

6,650	

TN	

85.00	

32.27	

67.73	

182,384.36	

382,865.64	

565,250.00	

10	Import Fill (E-Fill)
Includes 2' Clean Cap Over The Entire Site	
64,960	
TN	
30.75	
32.27	
67.73	
644,522.60	
1,352,997.40	
1,997,520.00	
11	Miscellaneous Landscape Grading	149,240	SF	0.15	32.27	67.73	7,223.10	15,162.90	22,386.00	
12	Laser Grade Building Pad @ +13.00 NGVD	129,010	SF	0.15	-	100.00	-	19,351.50	19,351.50	
13	MOT & Traffic Control	1	LS	15,000.00	32.27	67.73	4,839.92	10,160.08	15,000.00	
14	Survey	1	LS	65,850.00	32.27	67.73	21,247.25	44,602.75	65,850.00	
Sub-total EARTHWORK: ONSITE	908,542.65	1,892,914.60	2,801,457.25	
PAVEMENT: ASPHALT - ONSITE	
1	12" Compacted Subgrade	13,345	SY	1.30	100.00	-	17,348.50	-	17,348.50	
2	8" Rock Base	12,650	SY	16.10	100.00	-	203,665.00	-	203,665.00	
3	1" Type S-III Asphalt (1st Lift)	11,990	SY	8.00	100.00	-	95,920.00	-	95,920.00	
4	1" Type S-III Asphalt (2nd Lift)	11,990	SY	8.25	100.00	-	98,917.50	-	98,917.50	
5	MOT & Traffic Control	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
6	Survey	1	LS	12,850.00	100.00	-	12,850.00	-	12,850.00	
Sub-total PAVEMENT: ASPHALT - ONSITE	431,201.00	-	431,201.00	
CONCRETE: ONSITE	
1	2' Valley Gutter	2,035	LF	18.80	100.00	-	38,258.00	-	38,258.00	
2	6" x 12" Type "D" Curb	5,615	LF	14.25	100.00	-	80,013.75	-	80,013.75	
3	Survey	1	LS	5,850.00	100.00	-	5,850.00	-	5,850.00	
Sub-total CONCRETE: ONSITE	124,121.75	-	124,121.75	
SIGNS & MARKINGS: ONSITE	
1	Pavement Marking Allowance	1	LS	42,500.00	100.00	-	42,500.00	-	42,500.00	

Silver Palms West CDD Expansion	
Public Infrastructure Estimate of Construction Costs	
SW 248 Street & SW 124 Avenue	
Item No.	Description of Work	Quantity	Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
2	Survey	1	LS	4,580.00	100.00	-	4,580.00	-	4,580.00	
Sub-total SIGNS & MARKINGS: ONSITE	47,080.00	-	47,080.00	
STORM DRAIN: ONSITE	
1	18" French Drain w/ P-HDPE (4' x 15' Trench)	2,300	LF	218.00	100.00	-	501,400.00	-	501,400.00	
2	18" HDPE	2,100	LF	90.00	100.00	-	189,000.00	-	189,000.00	
3	Pipe Bedding	435	TN	38.00	100.00	-	16,530.00	-	16,530.00	
4	Catch Basin 48" Dia. w/ USF 4155-6210	18	EA	5,850.00	100.00	-	105,300.00	-	105,300.00	
5	Catch Basin 60" Dia. w/ USF 4155-6210	12	EA	6,450.00	100.00	-	77,400.00	-	77,400.00	
6	PRB's for 18" FD (CMP)	24	EA	1,050.00	100.00	-	25,200.00	-	25,200.00	
7	Clean Storm Pipe 0 - 24"	4,400	LF	6.50	100.00	-	28,600.00	-	28,600.00	
8	Filter Fabric in Grates	20	EA	30.00	100.00	-	600.00	-	600.00	
9	Remove & Dispose Filter Fabric at Final	20	EA	25.00	100.00	-	500.00	-	500.00	
10	Vacuum Structures at Final	20	EA	300.00	100.00	-	6,000.00	-	6,000.00	
11	Survey	1	LS	9,580.00	100.00	-	9,580.00	-	9,580.00	
Sub-total STORM DRAIN: ONSITE	960,110.00	-	960,110.00	
WATER: ONSITE	
1	8" DIP	4,520	LF	75.00	100.00	-	339,000.00	-	339,000.00	
2	6" DIP	240	LF	65.00	100.00	-	15,600.00	-	15,600.00	
3	Detector Tape	4,760	LF	0.50	100.00	-	2,380.00	-	2,380.00	
4	Marking Wire	4,760	LF	0.50	100.00	-	2,380.00	-	2,380.00	
5	Blueline Paint Water Main	4,760	LF	0.50	100.00	-	2,380.00	-	2,380.00	
6	Pipe Bedding for Water Main	1,055	TN	38.00	100.00	-	40,090.00	-	40,090.00	
7	Fire Hydrant w/ Mega Lug	12	EA	5,550.00	100.00	-	66,600.00	-	66,600.00	
8	3/4" Threaded Rod for Hydrant Restraints	12	EA	175.00	100.00	-	2,100.00	-	2,100.00	
9	8" Gate Valve & Box w/ Mega Lug	28	EA	2,850.00	100.00	-	79,800.00	-	79,800.00	
10	6" Gate Valve & Box w/ Mega Lug	12	EA	2,650.00	100.00	-	31,800.00	-	31,800.00	
11	8" Saddle w/ 2" Corp.	76	EA	550.00	100.00	-	41,800.00	-	41,800.00	
12	8" x 8" Cross w/ Mega Lug	2	EA	2,850.00	100.00	-	5,700.00	-	5,700.00	
13	8" x 8" Tee w/ Mega Lug	11	EA	2,250.00	100.00	-	24,750.00	-	24,750.00	
14	8" x 6" Tee w/ Mega Lug	12	EA	1,850.00	100.00	-	22,200.00	-	22,200.00	
15	8" 90 Bend w/ Mega Lug	3	EA	950.00	100.00	-	2,850.00	-	2,850.00	
16	8" 45 Bend w/ Mega Lug	6	EA	950.00	100.00	-	5,700.00	-	5,700.00	
17	1" Double Water Service	40	EA	1,950.00	100.00	-	78,000.00	-	78,000.00	
18	1" Single Water Service	36	EA	1,950.00	100.00	-	70,200.00	-	70,200.00	
19	Wood Stakes	116	EA	11.00	100.00	-	1,276.00	-	1,276.00	
20	8" Pipe Joint Restraint	226	EA	380.00	100.00	-	85,880.00	-	85,880.00	
21	6" Pipe Joint Restraint	12	EA	360.00	100.00	-	4,320.00	-	4,320.00	
22	16" x 8" Tapping Sleeve & Valve	2	EA	25,850.00	100.00	-	51,700.00	-	51,700.00	
23	8" Fill & Flush Connection	2	EA	3,250.00	100.00	-	6,500.00	-	6,500.00	
24	Meter Box	116	EA	980.00	100.00	-	113,680.00	-	113,680.00	
25	Remove Existing Plug & Connect	1	EA	1,850.00	100.00	-	1,850.00	-	1,850.00	
26	HRS & Sample Points	1	LS	2,200.00	100.00	-	2,200.00	-	2,200.00	

Silver Palms West CDD Expansion	
Public Infrastructure Estimate of Construction Costs	
SW 248 Street & SW 124 Avenue	
Item No.	Description of Work	Quantity	Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
27	Sawcut Existing	1	LS	600.00	100.00	-	600.00	-	600.00	
28	Steel Plate Rental	1	LS	2,200.00	100.00	-	2,200.00	-	2,200.00	
29	Base & Subgrade Restoration w/ CLR	1	LS	8,500.00	100.00	-	8,500.00	-	8,500.00	
30	Pavement Restoration	1	LS	8,500.00	100.00	-	8,500.00	-	8,500.00	
31	Pavement Marking Restoration	1	LS	3,500.00	100.00	-	3,500.00	-	3,500.00	
32	MOT & Traffic Control	1	LS	9,500.00	100.00	-	9,500.00	-	9,500.00	
33	Survey	1	LS	8,580.00	100.00	-	8,580.00	-	8,580.00	
Grand Total WATER: ONSITE	1,142,116.00	-	1,142,116.00	
SAN. SEWER: ONSITE	
1	6" PVC SDR-26	3,480	LF	35.00	100.00	-	121,800.00	-	121,800.00	
2	8" PVC SDR-26 0/6	1,900	LF	55.00	100.00	-	104,500.00	-	104,500.00	
3	8" PVC SDR-26 6/8	810	LF	55.00	100.00	-	44,550.00	-	44,550.00	
4	8" PVC SDR-26 18/20	345	LF	165.00	100.00	-	56,925.00	-	56,925.00	
5	Pipe Bedding for Sewer Laterals	685	TN	38.00	100.00	-	26,030.00	-	26,030.00	
6	Manhole 0/6	10	EA	4,850.00	100.00	-	48,500.00	-	48,500.00	
7	Manhole 6/8	5	EA	5,250.00	100.00	-	26,250.00	-	26,250.00	

8	Manhole 18/20
Includes Full Depth Sewer Manhole At The Property Line At SW 248th Street	
4	
EA	
18,850.00	
100.00	
-	
75,400.00	
-	
75,400.00	
9	Shrink Wrap/ PPC	19	EA	625.00	100.00	-	11,875.00	-	11,875.00	
10	8" Coupling PVC SDR-26	38	EA	360.00	100.00	-	13,680.00	-	13,680.00	
11	8" Manhole Adaptor PVC SDR-26	38	EA	380.00	100.00	-	14,440.00	-	14,440.00	
12	8" x 6" Wye PVC SDR-26	116	EA	480.00	100.00	-	55,680.00	-	55,680.00	
13	6" 45º Bend PVC SDR-26	290	EA	280.00	100.00	-	81,200.00	-	81,200.00	
14	6" Cap PVC SDR-26	116	EA	190.00	100.00	-	22,040.00	-	22,040.00	
15	6" Cleanout Ass'y. PVC SDR-26	116	EA	955.00	100.00	-	110,780.00	-	110,780.00	
16	Rainstoppers	19	EA	95.00	100.00	-	1,805.00	-	1,805.00	
17	Drop Connections	3	EA	3,350.00	100.00	-	10,050.00	-	10,050.00	
18	USF Box	116	EA	880.00	100.00	-	102,080.00	-	102,080.00	
19	Concrete Collar	116	EA	600.00	100.00	-	69,600.00	-	69,600.00	
20	Wood Stakes	116	EA	11.00	100.00	-	1,276.00	-	1,276.00	
21	Trench Box	1	LS	18,500.00	100.00	-	18,500.00	-	18,500.00	
22	Clean & TV Sanitary Sewer (1 time only)	3,055	LF	6.00	100.00	-	18,330.00	-	18,330.00	
23	Survey	1	LS	5,850.00	100.00	-	5,850.00	-	5,850.00	
Grand Total SAN. SEWER: ONSITE	1,041,141.00	-	1,041,141.00	
FORCE MAIN: ONSITE	
1	8" DIP Epoxy	355	LF	125.00	100.00	-	44,375.00	-	44,375.00	
2	Paint for Forcemain Pipe	355	LF	0.50	100.00	-	177.50	-	177.50	
3	Detector tape	355	LF	0.50	100.00	-	177.50	-	177.50	
4	Pipe Bedding	80	TN	38.00	100.00	-	3,040.00	-	3,040.00	
5	8" Check Valve w/ Mega Lug	1	EA	4,250.00	100.00	-	4,250.00	-	4,250.00	
6	8" 90º Bend w/ Mega Lug	2	EA	1,650.00	100.00	-	3,300.00	-	3,300.00	
7	24" x 8" Tapping Sleeve & Valve	1	EA	28,850.00	100.00	-	28,850.00	-	28,850.00	
8	8" Pipe Joint Restraint	17	EA	350.00	100.00	-	5,950.00	-	5,950.00	

Silver Palms West CDD Expansion	
Public Infrastructure Estimate of Construction Costs	
SW 248 Street & SW 124 Avenue	
Item No.	Description of Work	Quantity	Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
9	Flush Test	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
10	Steel Plate Rental	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
11	Sawcut Existing	1	LS	600.00	100.00	-	600.00	-	600.00	
12	Pavement Restoration	1	LS	4,500.00	100.00	-	4,500.00	-	4,500.00	
13	Subgrade & Base Restoration w/ CLR	1	LS	4,500.00	100.00	-	4,500.00	-	4,500.00	
14	Pavement Marking Restoration	1	LS	1,500.00	100.00	-	1,500.00	-	1,500.00	
15	MOT & Traffic Control	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
16	Survey	1	LS	1,655.00	100.00	-	1,655.00	-	1,655.00	
Sub-total FORCE MAIN: ONSITE	110,375.00	-	110,375.00	
LIFT STATION	
1	Public Lift Station	1	LS	700,000.00	100.00	-	700,000.00	-	700,000.00	
Sub-total LIFT STATION: ONSITE	700,000.00	-	700,000.00	
EARTHWORK: OFFSITE (SW 248 STREET) - ROAD WIDEN (680' LF)	
1	Clearing & Grubbing	1	AC	20,000.00	100.00	-	20,000.00	-	20,000.00	
2	Silt Fence (No Maintenance)	680	LF	4.00	100.00	-	2,720.00	-	2,720.00	
3	Proof Roll Site	1,210	SY	0.15	100.00	-	181.50	-	181.50	
4	Strip Site 6" & Stockpile	505	CY	3.50	100.00	-	1,767.50	-	1,767.50	
5	Move to Green Areas	505	CY	3.50	100.00	-	1,767.50	-	1,767.50	
6	Import Fill
Importing 12" Of Fill Only	895	TN	30.75	100.00	-	27,521.25	-	27,521.25	
7	Miscellaneous Landscape Grading	5,400	SF	0.15	100.00	-	810.00	-	810.00	
8	MOT & Traffic Control	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
9	Survey	1	LS	5,850.00	100.00	-	5,850.00	-	5,850.00	
Sub-total EARTHWORK: OFFSITE (SW 248 STREET)	63,117.75	-	63,117.75	
PAVEMENT: ASPHALT - OFFSITE (SW 248 STREET) - ROAD WIDEN (680' LF)	
1	12" Stabilized Subgrade	1,210	SY	8.50	100.00	-	10,285.00	-	10,285.00	
2	4" Curb Base	190	SY	8.25	100.00	-	1,567.50	-	1,567.50	
3	8" Rock Base	955	SY	16.10	100.00	-	15,375.50	-	15,375.50	
4	2" Type S-III Asphalt (1st Lift)	910	SY	16.00	100.00	-	14,560.00	-	14,560.00	
5	1" Type S-III Asphalt (2nd Lift)	910	SY	8.00	100.00	-	7,280.00	-	7,280.00	
6	MOT & Traffic Control	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
7	Survey	1	LS	2,440.00	100.00	-	2,440.00	-	2,440.00	
Sub-total PAVEMENT: ASPHALT - OFFSITE (SW 248 STREET)	54,008.00	-	54,008.00	
CONCRETE: OFFSITE (SW 248 STREET) - ROAD WIDEN (680' LF)	
1	4" Concrete Sidewalk (Non-reinforced)	4,080	SF	465.00	100.00	-	1,897,200.00	-	1,897,200.00	
2	2' Valley Gutter	90	LF	18.90	100.00	-	1,701.00	-	1,701.00	
3	2' Type "F" Curb & Gutter	590	LF	18.90	100.00	-	11,151.00	-	11,151.00	
4	Pedestrian Ramp	4	EA	600.00	100.00	-	2,400.00	-	2,400.00	
5	MOT & Traffic Control	1	LS	2,500.00	100.00	-	2,500.00	-	2,500.00	
6	Survey	1	LS	2,440.00	100.00	-	2,440.00	-	2,440.00	
Sub-total CONCRETE: OFFSITE (SW 248 STREET)	1,917,392.00	-	1,917,392.00	
SIGNS & MARKINGS: OFFSITE (SW 248 STREET) - ROAD WIDEN (680' LF)	
1	Pavement Marking Allowance	1	LS	4,500.00	100.00	-	4,500.00	-	4,500.00	
2	MOT & Traffic Control	1	LS	1,500.00	100.00	-	1,500.00	-	1,500.00	
3	Survey	1	LS	1,655.00	100.00	-	1,655.00	-	1,655.00	
Sub-total SIGNS & MARKINGS: OFFSITE (SW 248 STREET)	7,655.00	-	7,655.00	
STORM DRAIN: OFFSITE (SW 248 STREET) - ROAD WIDEN (680' LF)	

Silver Palms West CDD Expansion	
Public Infrastructure Estimate of Construction Costs	
SW 248 Street & SW 124 Avenue	
Item No.	Description of Work	Quantity	Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
1	24" French Drain w/ P-HP (4' x 15' Trench)	300	LF	225.00	100.00	-	67,500.00	-	67,500.00	
2	24" HP	380	LF	120.00	100.00	-	45,600.00	-	45,600.00	
3	Pipe Bedding	140	TN	38.00	100.00	-	5,320.00	-	5,320.00	
4	Catch Basin 48" Dia. w/ P-6 Inlet & Throat	3	EA	6,850.00	100.00	-	20,550.00	-	20,550.00	
5	PRB's for 24" FD (CMP)	2	EA	1,550.00	100.00	-	3,100.00	-	3,100.00	
6	Clean Storm Pipe 0 - 24"	680	LF	8.00	100.00	-	5,440.00	-	5,440.00	
7	Filter Fabric in Grates	3	EA	25.00	100.00	-	75.00	-	75.00	
8	Vacuum Structures at Final	3	EA	300.00	100.00	-	900.00	-	900.00	
9	Steel Plate Rental	1	LS	1,900.00	100.00	-	1,900.00	-	1,900.00	
10	MOT & Traffic Control	1	LS	1,000.00	100.00	-	1,000.00	-	1,000.00	
11	Survey	1	LS	2,411.59	100.00	-	2,411.59	-	2,411.59	
Sub-total STORM DRAIN: OFFSITE (SW 248 STREET)	153,796.59	-	153,796.59	
SIGNALIZATION: OFFSITE	

1	
Signal Modification
Relocating Existing (2 EA) Mast Arms At SW 124th Avenue & SW 248th Street Intersection	

1	

LS	

650,000.00	

100.00	

-	

650,000.00	

-	

650,000.00	
Sub-total SIGNALIZATION: OFFSITE	650,000.00	-	650,000.00	
FUEL SURCHARGE: 2.5%	
1	2.5% Fuel Surcharge	1	LS	257,853.66	100.00	-	257,853.66	-	257,853.66	
Sub-total FUEL SURCHARGE: 2.5%	257,853.66	-	257,853.66	
TOTAL ORIGINAL CONTRACT	8,608,801.36	1,963,198.64	10,572,000.00	
	
OTHER COSTS	
1	CDD Soft Cost and Contingency	0.15	%	8,608,801.36	100.00	-	1,291,320.20	-	1,291,320.20	
2	Water Conn. Fee (114 TH@ 135 GPD)	20,370	GPD	1.39	100.00		28,314.30	-	28,314.30	
3	Sewer Conn Fees (114 TH@ 135 GPD)	20,370	GPD	5.60	100.00		114,072.00	-	114,072.00	
4	Road Impact Fees for 114 TH	114	EA	10,625.00	100.00		1,211,250.00	-	1,211,250.00	
Sub-total Other Costs	2,644,956.50	-	2,644,956.50	
GRAND TOTAL	11,253,757.86	1,963,198.64	13,216,956.50	

Summary of Costs Per Public Infrastructure Category	
Item Description	Cost	Begin	End	
	($)	Quarter/Year	Quarter/Year	
Roadway Improvements Including Miami-Dade Road Impact Fees for 114 Town Homes	6,388,000	Q2/2025	Q2/2026	
Stormwater Management and Drainage	1,281,000	Q2/2025	Q1/2026	
Water Distribution System, Including Water Connection Fees for 114 Town Homes	1,342,000	Q2/2025	Q1/2026	
Sanitary Sewer System, Including Connection Fees for 114 Town Homes	2,244,000	Q2/2025	Q1/2026	
Total	11,255,000			

MASTER ASSESSMENT METHODOLOGY

FOR SPECIAL ASSESSMENT BONDS

SILVER PALM WEST

COMMUNITY DEVELOPMENT DISTRICT

Expansion Area

January 15, 2026

Prepared by

Governmental Management Services-South Florida, LLC 5385 N. Nob Hill Road
Sunrise, FL 33351

1.0	Introduction

The Silver Palms West Community Development District (the “District”) is a local unit of special-purpose government organized and existing under Chapter 190, Florida Statutes, as amended (“FS”). The District expects to issue not to exceed
$13,000,000 of special assessment bonds in one or more series (the “Bonds”) for the purpose of financing certain infrastructure improvements within the Expansion Area (as defined below), more specifically described in the First Supplemental Engineer Report for the Expansion Area Infrastructure Improvements, dated January 15, 2026 (the “Engineer’s Report”), prepared by Alvarez Engineers, Inc. (the “District’s Engineer”). The Bonds will be issued to pay for all or a portion of the design, acquisition, construction costs of certain public infrastructure improvements within the Expansion Area, including, but not limited to, stormwater management and control facilities, including, but not limited to, related earthwork; public roadway improvements and any applicable mobility fees; water and wastewater facilities and any applicable connection fees; and all related soft and incidental costs, as are more particularly described in the Engineer’s Report (herein, the “Expansion Area Project” or “Improvement Plan”).

Purpose

This Master Assessment Methodology Report (the “Report”) provides a methodology that determines the amount of District debt to be allocated to specific properties within the Expansion Area benefitting from the Improvement Plan to be acquired or constructed by the District. The Expansion Area Project is being constructed as one system of improvements benefiting all the property within the boundaries of the Expansion Area. This Report is designed to conform to the requirements of Chapters 190 and 170, Florida Statutes, and will be supplemented to reflect the actual terms and conditions at the time of the issuance of one or more series of the Bonds.

The District intends to impose non-ad valorem special assessments on the benefited lands within the Expansion Area to pay the debt represented by the Bonds in accordance with the methodology set forth in this Report. It is anticipated that all of the proposed special assessments will be collected through the Uniform Method of Collection described in section 197.3632, Florida Statutes, or any other legal means available to the District. It is not the intent of this Report to address any other assessments, if applicable, that may be levied by the District, a homeowner’s association, or any other unit of government.

Background

The District was established by Miami-Dade County Ordinance No. 20-126 and originally contained approximately 78.86 gross acres (the “Original District Boundaries”) and 652 residential units. In December 2025, the District’s boundaries were expanded by adding approximately 9.36 acres (the “Expansion Area”) planned for 114 condominium units. As a result, the current District boundaries consist of a total of 88.22 acres planned for 766 residential units. Of the 9.36-acre Expansion Area, 0.62 acres were dedicated to Miami-Dade County for SW 248 Street right-of-way, and the remaining 8.74 acres were platted as “Solstice,” consisting of Tract A (8.65 acres planned for 114 residential units and onsite public infrastructure easements) and Tract B (0.09 acres for a sanitary sewer lift station) as depicted in Table 1. The Solstice Plat is recorded at Plat Book 179, Page 14 in the Public Records of Miami-Dade County, Florida. The debt assessments levied pursuant to this methodology shall only be levied on the lands within Tract A within the Expansion Area.

The public improvements comprising the Expansion Area Project contemplated by the District will provide facilities that benefit the assessable property within the Expansion Area. The acquisition costs for the Expansion Area Project are summarized in Table 2.

The assessment methodology is a three-step process. First, the District Engineer determines the costs for the Expansion Area Project contemplated by the District. Second, this cost forms the basis for a debt sizing. Third, the bonded costs are divided among the benefited properties on the basis of the direct and special benefit received as a result of the Expansion Area Project.

Special Benefits and General Benefits
In the process of constructing or acquiring infrastructure improvements comprising the Expansion Area Project and which provide direct and special benefits to the assessable properties within Tract A within the Expansion Area, incidental general benefits to properties outside of the Expansion Area and the public at large are also created. These general benefits are incidental and different from the direct and special benefits provided to the assessable properties within Tract A within the Expansion Area.

The Improvement Plan is designed to meet the needs of the assessable property within the Expansion Area. The property owners within the Expansion Area are therefore receiving direct and special benefits not received by those outside of Tract A within the Expansion Area.

Special Benefits Exceed the Costs Allocated

The direct and special benefits provided to the assessable property within Tract A within the Expansion Area will be equal or greater than the costs associated with providing these benefits. The increase in the market value of the benefiting property will exceed the cost of the improvements constituting the Expansion Area Project being acquired by the District. Without the District’s Improvement Plan, the property within Tract A within the Expansion Area would not be able to be developed and to be sold as developed property.

Requirements of a Valid Assessment Methodology

There are two requirements under Florida law for a valid special assessment:
The properties to be assessed must receive a direct and special benefit from the improvements being paid for.
The assessments must be fairly and reasonably allocated to the properties being assessed.

2.0	Assessment Methodology

Overview

The District anticipates the issuance of approximately $13,000,000 in Bonds to finance public infrastructure improvements comprising the Expansion Area Project, provide for capitalized interest, if so required, fund one or more debt service reserve accounts, if applicable, and pay the cost of issuance. It is the purpose of this methodology to allocate the $13,000,000 in debt to the properties benefiting from the Improvement Plan.

Table 1 identifies the development plan (the “Development Plan”) as identified by the Developer, Lennar Homes, LLC (the “Developer”). The Engineer’s Report outlines the community wide capital improvements needed to support the Expansion Area, which are shown in Table 2. The public improvements constituting the Expansion Area Project needed to support the development are described in detail in the Engineer’s Report and are estimated to cost $11,255,000. Any portion of the Expansion Area Project not paid for with the proceeds of the Bonds will be financed by the Developer. These improvements will be funded through the issuance of the Bonds. Based on the estimated costs, the size of the bond issue needed to

generate funds to pay for the Expansion Area Project was determined by the District’s Underwriter to total approximately $13,000,000. The District is authorized, but is not required, to issue $13,000,000 in Bonds or to finance the whole Expansion Area Project. Table 3 depicts the breakdown of the Bond sizing.

Allocation of Benefit

The planned public improvements constituting the Expansion Area Project are an integrated system of facilities that benefit the assessable land within the Expansion Area. That is, the first few feet of water line or sewer line benefit the landowners as much as the last few feet. The Improvement Plan works as a total system and provides special benefits for each land use. A fair and reasonable method of allocating the benefit to each residential unit in the District would be by assigning an equivalent residential unit (“ERU”) to the one product type. The 114 condominium units, which are all similar in size, and have been assigned one (1) ERU. Table 4 shows the allocation of benefits based on this ERU assignment. It is important to note that the direct and special benefit derived from the Expansion Area Project to the residential units identified in the Development Plan is equal to or exceeds the cost that the units will be paying for such benefits.

Allocation of Debt

Allocation of debt is a continuous process until the Development Plan is completed. The initial assessments will be levied on an equal basis to all acres within the Expansion Area. All of the planned 114 lots within the District have been platted. The assessments will be assigned to the platted lots once property folio numbers are received from the County. A fair and reasonable methodology allocates the debt incurred by the District proportionately to the properties receiving the direct and special benefits. At this point, all of the land within the Expansion Area is benefiting equally from the Improvement Plan, and the special assessments will be assigned on a per acre basis.

Once platting, the recording of declaration of condominium, or other means of identifying individual lots (“Assigned Properties”) has begun, the assessments will be levied to the Assigned Properties based on the benefits they receive on a first platted, first assigned basis. The Unassigned Properties, defined as gross acres that have not been platted, will continue to be assessed on a per acre basis. Eventually, the Development Plan will be completed, and the debt relating to the Bonds will be allocated to the planned 114 condominium lots within the Expansion Area, which are the beneficiaries of the public infrastructure improvements constituting the

Expansion Area Project, as depicted in Table 5. If there are changes to the Development Plan, a true up of the assessment will be calculated to determine if a payment from the Developer is required. Debt assessments relating to the Bonds assessed on any land within Tract A within the Expansion Area of the District must be satisfied prior to any transfer of such lands to a unit of Federal, State, or local government. This process is outlined in Section 3.0.

The assignment of debt in this Report sets forth the process by which debt represented by the Bonds is apportioned. As mentioned herein, this Report will be supplemented from time to time.

Special and Peculiar Benefit to the Expansion Area

As previously mentioned, the capital improvements to be constructed or acquired by the District include stormwater management and control facilities, including, but not limited to, related earthwork, public roadway improvements, and any applicable mobility fees, and water and wastewater facilities, and any applicable connection fees. This will provide peculiar, direct, and special benefits which flow from the logical relationship of the Improvement Plan to the benefiting properties within the Expansion Area. These peculiar, direct, and special benefits consist of the added use of the property, for residential purposes, added enjoyment of the property, and the probability of increased marketability and value of the property.

Reasonable and Fair Apportionment of the Duty to Pay

A reasonable estimate of the proportion of direct, special, and peculiar benefits received from the Improvement Plan is delineated in Table 4.
The determination has been made that the duty to pay the non-ad valorem special assessments is fairly and reasonably apportioned because the direct, special, and peculiar benefits to the property derived from the acquisition or construction of the Expansion Area Project have been apportioned to the property according to reasonable estimates of the direct, special, and peculiar benefits provided consistent with each land use category.

Accordingly, no acre or parcel of property within the boundaries of Tract A within the Expansion Area will be liened for the payment of any non-ad valorem special assessment more than the determined direct and special benefit peculiar to that unit, and therefore, the debt allocation will not be increased more than the debt allocation set forth in this Report.

In accordance with the benefit allocation in Table 4, a total par amount of the Bonds per unit and an annual debt assessment per unit for the proposed District’s Bonds have been calculated for each unit as illustrated in Table 5. These amounts represent the maximum anticipated per unit debt allocations assuming all anticipated units are built and sold in the proportions planned, and the entire proposed infrastructure program is constructed or acquired by the District, and the estimated $13,000,000 in par amount of the Bonds have been issued.

True Up

Although the District does not process plats, declaration of condominiums, site plans, or revisions for the Developer, it does have an important role to play during the course of platting and site planning. Whenever a plat, or replat declaration of condominium, or site plan, or revision is processed, the District must allocate a portion of its debt to the property within the Expansion Area according to the methodology outlined herein. In addition, the District must also prevent any buildup of debt on Unassigned Properties. Otherwise, the land could be fully conveyed and/or platted without all of the debt being allocated. To preclude this, at the time Unassigned Properties become Assigned Properties, the District will determine the amount of anticipated assessment revenue that remains on the Unassigned Properties, taking into account
the proposed plat or site plan approval. If the total anticipated assessment revenue to be generated from the Assigned and Unassigned Properties is greater than or equal to the maximum annual debt service on the Bonds, then no debt reduction payment will be required. In the case that the revenue generated is less than the required amount to pay debt service on the Bonds, then a debt reduction payment by the Developer in the amount necessary to reduce the par amount of the outstanding Bonds plus accrued interest to a level that will be supported by the new maximum annual debt service will be required. This true up mechanism may be memorialized through an agreement between the District and the Developer, which may contain additional provisions. This true up process will also apply to any re-plats.

In addition, property within the Expansion Area that is sold with development entitlements assigned will be subject to a true up test with respect to the entitlements conveyed to such property. In the event unplatted land is sold to a third party (the “Transferred Property”), the bond assessments will be assigned to such Transferred Property at the time of the sale based on the maximum total number of ERUs assigned by the Developer to that Transferred Property, subject to review by the District’s methodology consultant, to ensure that any such assignment is reasonable, supported by current development rights and plans, and otherwise consistent with this Report. The owner of the Transferred Property will be responsible for the total bond assessments applicable to the Transferred Property,

regardless of the total number of ERUs ultimately actually platted. This total bond assessment is allocated to the Transferred Property at the time of the sale.

This true up mechanism may be memorialized through an agreement between the District and the Developer, which may contain additional provisions.

Assessment Roll

The District will initially distribute the liens across the property within Tract A within the Expansion Area boundaries on a gross acreage basis. All of the planned 114 lots within the District have been platted. The assessments will be assigned to the platted lots once property folio numbers are received from the County. As Assigned Property becomes known with certainty, the District will refine its allocation of debt from a per acre basis to a per unit basis, as shown in Table 6, on a first platted, first assigned basis. If the land use plan changes, then the District will update Table 6 to reflect the changes. As a result, the assessment liens are neither fixed nor are they determinable with certainty on any acre of land in the District prior to the time final Assigned Properties become known. As the development process occurs, the debt will be distributed against the Assigned Property in the manner described in this Report. The current assessment roll is depicted in Table 6.

Additional Information

Governmental Management Services-South Florida, LLC (GMS) does not represent the District as a Municipal Advisor or Security Broker, nor is GMS registered to provide such services as described in Section 15B of the Security and Exchange Act of 1934, as amended. Similarly, GMS does not provide the District with advisory services or offer investment advice.
Certain information in this Report was provided by members of the District staff, the Developer or other professionals hired in conjunction with the bond issuance. GMS makes no representation regarding the information provided by others.

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Table 1	
Silver Palms West - Expansion Area	
Community Development District	
Development Plan	

No. of
 Land Use	Units*	ERUs per Unit	Total ERUs	

Condominium Units	114	1.00	114.00	

Residential Units	
114		
114	

Gross Expansion Area Acres**	
9.36			

* Unit mix subject to change based on marketing and other factors.	
** Per ordinance No. 25-119	

Table 2	
Silver Palms West - Expansion Area	
Community Development District	
Estimated Construction Costs	

Category	Cost	
Roadway Improvements	$	6,388,000	
Stormwater Management	$	1,281,000	
Water System	$	1,342,000	
Sanitary Sewers	$	2,244,000	

Total	$	11,255,000

Information provided by Alvarez Engineers Inc.

Table 3	
Silver Palms West - Expansion Area	
Community Development District	
Bond Sizing	

Construction Funds	
Debt Service Reserve	
Capitalized Interest	
Underwriters Discount	
Issuance Costs	

Bonds	
$	11,255,000	
$	1,047,623	
$	910,000	
$	260,000	
$	171,896	

Par Amount *	$	13,000,000

*Based on the following:	
Interest Rate	7.00%	
Amortization	30	
Capitalized Interest	12	
Debt Service Reserve	100% of MADS	
Underwriters Discount	2.00%	

MADS = Maximum Annual Debt Service
MADS=	$1,047,623.25	

Information provided by FMS Bonds

Table 4	
Silver Palms West - Expansion Area	
Community Development District	
Allocation of Total Project Cost	

Total Cost	Total Costs	
Land Use	No. of Units*	ERUs per Unit	Total ERUs	Allocated	per Unit	

Condominium Units	114	1.00	114.00	$	11,255,000	$	98,728.07	

Totals	
114		
114.00	
$	11,255,000		

* Unit mix subject to change based on marketing and other factors.

Table 5	
Silver Palms West - Expansion Area	
Community Development District	
Bond Allocation of Par Debt	

				Bonds	Bonds	Annual	Annual	
			Total Cost	Total Allocation of	Allocation of Par	Debt Assessment	Debt Assessment	
Land Use	No. of Units*	Total ERUs	Allocated	Par Debt	Debt per Unit	Total	Per Unit**	

Condominium Units	114	114.00	$	11,255,000.00	$	13,000,000	$	114,035.09	$	1,047,623.25	$	9,189.68	

Totals	
114	
114.00	
$	
11,255,000.00	
$	13,000,000		
$	1,047,623		

* Unit mix subject to change based on marketing and other factors.	
** This amount will be grossed up to include discounts for early payments and county collection fees when collected on the Miami-Dade County tax bills (currently 5%).	

Table 6	
Silver Palms West - Expansion Area	
Community Development District	
Preliminary Assessment Roll	

		Total Allocation of		Allocation of	
		Cost	Allocation of Par	Annual Assessment	
Parcel ID#	Acres	Per Parcel	Debt per Parcel	per Parcel*	

Tract A**	8.65	$

11,255,000	$

13,000,000	$

1,047,623

Totals	8.65	$

11,255,000	$

13,000,000	$

1,047,623

* This amount will be grossed up to include discounts for early payments and county collection fees when collected on the Miami-Dade County tax bills (currently 5%).	
** See Engineer’s Report for a description of Tract A within the Expansion Area.	

RESOLUTION 2026-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT AUTHORIZING DISTRICT PROJECTS AND IMPROVEMENTS; EQUALIZING, APPROVING, CONFIRMING, AND LEVYING SPECIAL ASSESSMENTS ON PROPERTY SPECIALLY BENEFITED BY SUCH PROJECTS TO PAY THE COST THEREOF; PROVIDING FOR THE PAYMENT AND THE COLLECTION OF SUCH SPECIAL ASSESSMENTS BY THE METHOD PROVIDED FOR BY CHAPTERS 170 AND 197, FLORIDA STATUTES; CONFIRMING THE DISTRICT’S INTENTION TO ISSUE SPECIAL ASSESSMENT BONDS; PROVIDING FOR SEVERABILITY, CONFLICTS AND AN EFFECTIVE DATE

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT, THAT:

SECTION 1. AUTHORITY FOR THIS RESOLUTION. This Resolution
is adopted pursuant to Chapters 170, 190 and 197, Florida Statutes.

SECTION 2. FINDINGS. The Board of Supervisors of the Silver Palms West Community Development District (the “Board”) hereby finds and determines as follows:
The Silver Palms West Community Development District (the “District”) is a local unit of special-purpose government organized and existing under and pursuant to Chapter 190, Florida Statutes, as amended.
The District is authorized under Chapter 190, Florida Statutes, to fund, acquire, and construct roadway improvements; stormwater management and control facilities, including but not limited to, related earthwork; water distribution and sanitary sewer systems; landscaping, including irrigation in public rights of way; hardscape; recreational amenities; the acquisition of certain interests in land; and related

incidental costs related thereto to serve lands within the District (the “Improvements” or the “projects”).
The District is authorized by Chapter 170, Florida Statutes, to levy special assessments to pay all, or any part of the cost of such projects and, to issue special assessment bonds (the “Bonds”) payable from such special assessments as provided in Chapters 190 and 170, Florida Statutes.
It is necessary to the public safety and welfare that (i) the District provide the projects, the nature and location of which are described in Resolution 2026-01 and more specifically described in the Engineer’s Report for Silver Palms West Community Development District, prepared by Alvarez Engineers, Inc., dated January 15, 2026, as amended from time to time (the “Engineer’s Report”) on file at the offices of the District Manager, 5385 N. Nob Hill Rd., Sunrise, Florida 33351 (the “District Office”) or at 2804 NE 8th Street, Suite 202, Homestead, Florida 33033 (the “Local Records Office”)., which Engineer’s Report is incorporated into and specifically made a part of this Resolution (ii) the cost of such projects be assessed against the lands specially benefited by such projects, and (iii) the District issue Bonds to provide funds for such purposes pending the receipt of such special assessments.
The provisions of said projects, the levying of such special assessments and the sale and issuance of such Bonds serves a proper, essential, and valid public purpose.
In order to provide funds with which to pay the costs of the projects which are to be assessed against the benefited properties pending the collection of such special assessments, it is necessary for the District to sell and issue its special assessment Bonds in one or more series (; and
By Resolution 2026-01 adopted by the Board, the Board determined to provide the projects and the defray the cost thereof by making special assessments on benefited property and expressed an intention to issue the Bonds to provide the funds needed for the projects prior to the collection of such special assessments. Resolution 2026-01 was adopted in compliance with the requirements of Section 170.03, Florida Statutes, and prior to the time the same was adopted, the requirements of Section 170.04, Florida Statutes; had been complied with; and
As directed by Resolution 2026-01, said resolution was published as required by Section 170.05, Florida Statutes, and a copy of the publisher’s affidavit of publication is on file with the Secretary of the Board; and

As directed by Resolution 2026-01, a preliminary assessment roll was prepared and filed with the Board as required by Section 170.06,
Florida Statutes; and
As required by Section 170.07, Florida Statutes; upon completion of the preliminary assessment roll, the Board adopted Resolution 2026-02 fixing the time and place of a public hearing at which owners of the property to be assessed and other persons interested therein may appear before the Board and be heard as to (i) the propriety and advisability of making the public improvements comprising the projects, (ii) the cost thereof, (iii) the manner of payment therefore, and (iv) the amount thereof to be assessed against each parcel specially benefited by such improvements and providing for the mailing publication of notice of such public hearing; and
Notice of such public hearing has been given by publication and by mail as required by Section 170.07, Florida Statutes, and affidavits as to such publication and mailing are on file in the office of the Secretary of the Board; and
At the time and place specified in the resolution and notice referred to in paragraph (k) above, the Board met as an Equalization Board, conducted such public hearing and heard and considered all complaints as to the matters described in paragraph (j) above, and based thereon, has made such modifications in the preliminary assessment roll as it deems desirable at this time; and
Having considered the costs of the projects, revised estimates of financing costs and all complaints and evidence presented at such public hearing, the Board finds and determines:
that the estimated costs of the projects are as specified in the First Supplemental Engineer’s Report and in the Master Assessment Methodology for the Expansion Area: Silver Palms West Community Development District, prepared by Governmental Management Services-South Florida, LLC, dated January 15, 2026, as amended from time to time, and which is attached hereto and made a part hereof as Exhibit “A” (the “Assessment Report”);
it is reasonable, proper, just and right to assess the cost of such projects against the properties specially benefited thereby using the methods determined by the Board which will result in special assessments to be set forth on a final assessment roll to be adopted by the Board at the time when the final project costs, structure and interest rate on the Bonds to be issued by the District are known, it is hereby declared that the projects will constitute a

special benefit to all parcels of real property to be listed on said final assessment roll and that the benefit, in the case of each such parcel, will be in excess of the special assessment thereon; and
it is desirable that the special assessments be paid and collected as herein provided
SECTION 3.  AUTHORIZATION OF DISTRICT PROJECTS.
The projects described in Resolution 2026-01 and as more specifically described in the Engineer’s Report on file at the District Offices are hereby authorized and approved and the proper officers, employees and agents of the District are hereby authorized and directed to take such further action as may be necessary or desirable to cause the same to be made following the issuance of the Bonds referred to herein.
SECTION 4.  ESTIMATED COST OF PROJECTS.  The total
estimated costs of the projects and the costs to be paid by special assessments on all specially benefited property are set forth in the Engineer’s Report and the Assessment Report.
SECTION  5.    APPROVAL  AND  CONFIRMATION  OF
ASSESSMENT METHODOLOGY. The Assessment Report sets forth in preliminary assessment roll previously adopted by this Board is hereby approved and confirmed. The special assessment against each respective parcel to be shown on such final assessment roll and interest and penalties thereon, as hereafter provide, shall be and shall remain a legal, valid and binding first lien on such parcel until paid; such lien shall be coequal with the lien of all state, county, district, municipal, or other governmental taxes and superior in dignity to all other liens, titles, and claims.
SECTION 6.  FINALIZATION OF SPECIAL ASSESSMENTS.
When all of the projects have both been constructed or otherwise provided to the satisfaction of the Board, the Board shall adopt a resolution accepting the same and determining the actual costs (including financing costs) thereof, as required by Section 170.08 and 170.09, Florida Statutes. The District shall credit to each special assessment for projects the difference between the special assessment as hereby made, approved and confirmed and the proportionate part of the actual costs of the projects, as finally determined upon completion thereof, but in no event shall the final amount of any such special assessment exceed the amount of benefits originally assessed hereunder. In making such credits no discount shall be granted or credit given for any part of the payee’s proportionate share of any actual bond financing costs, such as capitalized interest, funded reserves or bond discount included in the estimated cost of any such public improvements comprising the projects.  Such credits shall be

entered in the Improvement Lien Book. Once the final amount of special assessments for all of the public improvements constituting the project have been determined, the term “special assessment” shall, with respect to each parcel, mean the sum of the costs of the projects.
SECTION 7. PAYMENT AND PREPAYMENT OF NON-AD VALOREM SPECIAL ASSESSMENTS AND METHOD OF COLLECTION.
All non-ad valorem special assessments shall be payable in no more than thirty (30) annual installments which shall include interest, calculated in accordance with the Assessment Report. All special assessments collected utilizing the uniform method of collection shall be the amount determined in the first sentence of this paragraph divided by 1 minus the sum of the percentage cost of collection, necessary administrative costs and the maximum allowable discount for the early payment of taxes (currently four percent 4%).
The Board hereby elects, under its charter and Section 197.3631, Florida Statues, to use the method of collecting special assessments authorized by Sections 197.3632 and 197.3635, Florida Statutes. The Board has heretofore timely taken, or will timely take, all necessary actions to comply with the provisions of said Sections 197.3632 and 197.3635, Florida Statutes, and applicable rules adopted pursuant thereto; and, on or prior to the date on which the Bonds are issued, sold and delivered, the District shall enter into a written agreement with the Property Appraiser and Tax Collector of County in compliance therewith. Such non-ad valorem special assessments shall be subject to all the collection provisions of Chapter 197, Florida Statutes.
Notwithstanding the foregoing, the Board reserves the right under Section 197.3631, Florida Statutes, to collect its non-ad valorem special assessments pursuant to Chapter 170, Florida Statutes, and to foreclose its non-ad valorem special assessment liens as provided for by law.
All special assessments may be prepaid, in whole or in part at any time, by payment of an amount equal to the principal amount of such prepayment plus interest accrued at the interest rate on the Bonds to which such special assessments are pledged to the first interest payment date which is more than forty-five (45) days prior to the date of such prepayment. All special assessments are also subject to prepayment in the amounts and at the times set forth in Chapter 170, Florida Statutes; provided, however, that the owner of land subject to the Special Assessments may elect to waive such statutory right of prepayment.

SECTION 8. SEVERABILITY. If any section or part of a section of this resolution be declared invalid or unconstitutional, the validity, force and effect of any other section or part of a section of this resolution shall not thereby be affected or impaired unless it clearly appears that such other section or part of a section of this resolution is wholly or necessarily dependent upon the section or part of a section so held to be invalid or unconstitutional.
SECTION 9. CONFLICTS. All resolutions or parts thereof in conflict herewith are, to the extent of such conflict, superseded and repealed.
SECTION 10. EFFECTIVE DATE. This Resolution shall become effective upon its adoption.

APPROVED AND ADOPTED THIS 26th DAY OF February 2026

SILVER PALMS WEST
COMMUNITY DEVELOPMENT DISTRICT

Secretary / Assistant Secretary	Chairman/Vice Chairman

Exhibit “A” – Assessment Report

ACQUISITION AGREEMENT
(Expansion Area Project)

This Acquisition Agreement (the “Agreement”) is made and entered into as of this    day of 	, 2026 (the “Effective Date”), by and between:

SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT, a local
unit of special purpose government established pursuant to Chapter 190, Florida Statutes, being situated in unincorporated Miami-Dade County, Florida, and whose mailing address is c/o Governmental Management Services-South Florida, LLC, 5385 N. Nob Hill Road, Sunrise, Florida 33351 (the “District”); and

LENNAR HOMES, LLC, a Florida limited liability company, the owner and primary developer of lands within the District, whose principal address is 5505 Waterford District Drive, Miami, Florida 33126, and its successors, successors-in-title, and assigns (the “Developer”).
RECITALS
WHEREAS, the District was established by Ordinance No. 20-126 (the “Establishment Ordinance”), enacted by the Board of County Commissioners (the “County Commission”) of Miami-Dade County, Florida (the “County”) on December 1, 2020 and effective December 11, 2020 (the “Ordinance”) for the purpose of planning, financing, constructing, installing, operating, acquiring and/or maintaining certain public infrastructure to serve the residential community located within the boundaries of the District; and

WHEREAS, the boundaries of the District were expanded pursuant to Ordinance No. 25-119 (the “Expansion Ordinance”) enacted by the County Commission of the County on December 16, 2025, effective December 26, 2025, adding certain lands to the District, as more particularly described in Exhibit A, attached hereto and made a part hereof (the “Expansion Area”); and

WHEREAS, the Developer is the developer of the 9.36 +/- acres of lands within the Expansion Area of the District, which lands are situated within the unincorporated area of the County and are more particularly described herein and in the Expansion Ordinance; and

WHEREAS, the lands within the Expansion Area are owned by the Developer and TPG AG EHC SD (LEN) Multi State 1, LLC, a Delaware limited liability company (the “AG Landowner”), which AG Landowner was established for the principal purpose of acquiring and holding real estate, and there have been several residential lots that have been sold to homebuyers; and

WHEREAS, the Developer covenants that pursuant to the Construction Agreement, dated January 30, 2025, by and between the Developer and the AG Landowner, as such Construction Agreement may be amended and supplemented from time to time, the Developer has all necessary authority to develop the Expansion Area, complete the Expansion Area Project, as later defined herein, and enter into this Agreement with the District; and

WHEREAS, the District has determined that it is in the best interests of the present and future landowners and is a direct and special benefit to the Expansion Area within the District to finance, construct and deliver certain community development systems, facilities, and improvements to serve the District and the lands within the Expansion Area, including, without limitation, roadway improvements, including applicable mobility fees; stormwater management and control facilities, including, but not limited to, related earthwork; certain off-site improvements; water and wastewater facilities, including any applicable connection fees; and related soft and incidental costs, which public infrastructure systems, facilities and improvements are more specifically described in the First Supplemental Engineer’s Report for the Expansion Area, dated January 15, 2026, prepared by Alvarez Engineers, Inc. (the “Engineer”), as may be further amended or supplemented from time to time (collectively, the “Engineer's Report”), and in the plans and specifications on file at the office of the District (collectively, the “Improvements” or the “Expansion Area Project”), which Engineer’s Report and Expansion Area Project plans and specifications are hereby incorporated into and made a part of this Agreement by reference; and

WHEREAS, the District desires to acquire from the Developer, and the Developer desires to convey to the District, on the terms and conditions set forth herein, in one or more conveyances, the Developer's rights or interest in the Expansion Area Project, which consists of the rights and interests in certain public infrastructure improvements (“Improvements”) and interests in real property as more particularly described in Exhibit B attached hereto and made a part hereof, which Improvements benefit those Expansion Area, as described in the Engineer’s Report; and

WHEREAS, the District proposes to issue its not-to-exceed $13,000,000 Silver Palms West Community Development District Special Assessment Bonds (Expansion Area Project), in one or more series (each, a “Series”) (collectively, the “Bonds”), to finance the cost of acquisition of a portion of the Developer's rights or interest in the Expansion Area Project providing a direct and special benefit to the Expansion Area, pursuant to a Master Trust Indenture, dated as of January 1, 2022by and between the District and U.S. Bank Trust Company, National Association, as trustee, or a successor trustee approved by the District (the “Trustee”), and a Second Supplemental Trust that will be entered into by and between the District and the Trustee, as each may be supplemented and amended from time to time (collectively, the “Indenture”), ; and

WHEREAS, the District intends to issue its Bonds to finance a portion of the Expansion Area Project; and

WHEREAS, since the Expansion Area Project provides a direct and special benefit to the lands within the Expansion Area, it is the intent of the parties that this Agreement shall be applicable to the Bonds; and

WHEREAS, Developer will grant the District those easements or real property interests as determined to be necessary by legal counsel to the District and which permit the District to acquire and/or construct and maintain the Expansion Area Project within and benefitting the Expansion Area; and

WHEREAS, any capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in the Indenture; and

WHEREAS, as a condition of the District acquiring the Improvements that constitute part of the Expansion Area Project, the Engineer will certify that the Improvements or the portion of the Improvements being conveyed to the District pursuant to this Agreement are part of the Expansion Area Project and will certify that the cost to be charged to the District for each portion of the Improvements being conveyed to the District pursuant to this Agreement does not exceed the lower of (i) the documented actual cost of such Improvements or (ii) the Engineer's estimated fair market value of such Improvements; and

WHEREAS, the Developer agrees and acknowledges that this Agreement shall be binding upon its heirs, executors, receivers, trustees, successors, successors in title, and assigns (except for homebuyers); and

WHEREAS, the District Board of Supervisors has determined that it is in the best interests of the District, its future landowners and residents to enter into this Agreement and to acquire the Improvements and any interests in real property that are part of the Expansion Area Project.
NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for Ten and no/100ths ($10.00) Dollars and other good and valuable consideration from the District to the Developer, the receipt and sufficiency of which are hereby acknowledged, acknowledged, and subject to the terms and conditions hereof, the parties agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Agreement.

APPLICABLE PROVISIONS; MAXIMUM PAYMENT.

It is contemplated by the parties that the Improvements will be completed and conveyed by the Developer to the District. The provisions of Section 3 and Section 4 hereof are specifically applicable to the conveyance of Improvements comprising the Expansion Area Project by the Developer to the District. Subject to the next succeeding sentence, the District agrees to pay the Developer subsequent to the issuance of the Bonds, the amount of net proceeds available from the Bonds issued by the District as total payment for all the Developer's rights or interest in the Expansion Area Project, an amount not to exceed ELEVEN MILLION TWO HUNDRED FIFTY-FIVE THOUSAND AND 00/100 ($11,255,000.00) DOLLARS (the “Expansion Area
Project Cost”). The parties acknowledge that this Expansion Area Project Cost will exceed the amount of net proceeds available from the Bonds to be issued by the District, in one or more Series, in connection with the Expansion Area Project. The total payment to be made by the District for all the Developer’s rights or interests in the Expansion Area Project calculated in accordance with and subject to this Agreement shall not exceed the Expansion Area Project Cost or the amount of net proceeds available from the Bonds, whichever is less (the “Purchase Price”) deposited into the applicable Acquisition and Construction Account and from monies in the Reserve Account(s) as a result of satisfaction of the Release Conditions (as defined in the Indenture).

In no event shall the District pay more than the Purchase Price for all of the Expansion Area Project. In the event that there are not sufficient funds from the available net proceeds of the Bonds and from available money released from the Reserve Account(s) upon satisfaction of the Release Conditions to pay for the Expansion Area Project, then, the Expansion Area Project Cost shall be reduced to equal the amount of remaining funds available from the net proceeds of the Bonds and available monies in the Reserve Account(s) as a result of satisfaction of the Release Conditions, so that payment of such remaining and available funds shall fully satisfy the District’s obligation to the Developer and the Developer shall convey all of the Improvements and the interests in real property subject to this Agreement without further right to any additional payments for the Improvements or the interests in real property constituting the Expansion Area Project. The acquisition of the Developer’s rights or interest in the Expansion Area Project by the District and the District’s payment for same shall be in accordance with the terms of this Agreement, the applicable Indentures relating to each Series of Bonds, the resolution or resolutions authorizing the Bonds, and the Engineer’s Report, all of which are incorporated herein by reference. The parties recognize that Developer shall not be paid more than the Purchase Price for the Expansion Area Project.

For purposes of the payment provisions of this Agreement, all payments to the Developer shall be made and directed to Lennar Homes, LLC, unless otherwise directed in writing by Lennar Homes, LLC.

CONVEYANCE OF IMPROVEMENTS AND REAL PROPERTY.

In accordance with the terms and conditions of this Agreement, the Developer shall, in one or more conveyances, convey, or cause to be conveyed by the Developer or others, as the case may be, to the District by dedication, special warranty deed, quit claim deed, easement, bill of sale or other appropriate form of conveyance satisfactory to the District and its counsel, any and all of the Developer's rights in the interests in real property and the Improvements from time to time and as the Improvements are completed. At least fifteen (15) days prior to the date of conveyance of any interests in real property (pursuant to Section 3.2 and Section 3.6 below) or Improvements hereunder, the Developer shall provide the District with copies of surveys and as-built plans, if applicable, signed and sealed by the Developer’s surveyor and/or engineer of record describing the Improvements and any real property, if applicable, being conveyed. At least ten (10) days prior to the date of conveyance of any interests in real property pursuant to Section 3.2 and Section 3.6 hereunder, the Developer shall provide the District with title insurance, an attorney's opinion of title or other evidence of clear title relating to any interests in real property and Improvements acceptable to the District and its counsel describing the nature of Developer's rights or interest in the real property and Improvements being conveyed, and stating that (i) such interests in real property and Improvements are free and clear of all liens and encumbrances, except as provided herein and except for those encumbrances that do not impair or interfere with any functions of the District, (ii) all governmental approvals necessary to install the Improvements have been obtained, and (iii) the Developer is conveying the complete interest in the Improvements to the District.

Conveyance of interests in real property. Pursuant to and as more particularly described in the Engineer’s Report and as part of the Expansion Area Project, the Developer is required, at no cost to the District, to convey or ensure the conveyance of those interests in real property necessary for the District to own, operate and maintain the Expansion Area Project. With respect to the conveyance of the interests in real property, on the date of the closing on said property, or portions thereof, the Developer shall deliver to the District the following original documents:

Special Warranty Deed or Quit Claim Deed (each, a “Deed”) or Grant of Easement, as provided in the Engineer’s Report;

Attorney’s Opinion of Title;

Owner’s/Seller’s Affidavit;
Bill of Sale for improvements on the property;
Any necessary consent resolutions;
Any assignments or other documents that might be required as part of or in connection with the issuance of the title commitment or opinion of title.
The parties acknowledge and agree that certain portions of the Improvements may have been or will be constructed in rights-of- way, utility easements, common areas or areas, any or all of which may have been previously dedicated to other governmental bodies, public entities, or other quasi-public organizations, and that, therefore, such portions of the Improvements may be subject to certain rights of other governmental bodies, public entities, other quasi-public organizations. Accordingly, the Developer's rights or interest in such portions of the Improvements may be conveyed by the Developer to the District, subject to such other rights provided such rights are perpetual in nature, and the District shall have free and unencumbered access to such Improvements.

All terms and conditions of this Agreement apply equally to conveyances made prior to funding from proceeds of the Bonds, and the District shall make payment for such conveyances in accordance with Section 4 below, provided that under no circumstances shall a conveyance made prior to such funding obligate the District to make payment prior to receipt by the District of such funding from proceeds of the Bonds.

By approval and execution of this Agreement, the District authorizes and ratifies the preparation and execution by the proper official(s) of the District of all documents necessary to effectuate the conveyances contemplated by this Agreement.

The Developer further agrees to convey, or have conveyed without monetary consideration, such real property and interests in real property, whether by Deed, easement, or otherwise, from the Developer or other owner(s), as the case may be, so that the District has full access by means of ingress and egress to all Improvements for purposes of ownership and

maintenance of said Improvements and in accordance with the Engineer’s Report. Developer further agrees to convey or have conveyed, at no cost to the District, such other real property interests in Expansion Area from the Developer in favor of the District as determined to be necessary by District legal counsel and which permit the District to acquire, own, and operate the Expansion Area Project within said Expansion Area.

PAYMENT FOR IMPROVEMENTS, CONNECTION CHARGES AND MOBILITY FEES.

After receipt by the District of funds from the net proceeds of the Bonds, or a particular Series, and in accordance with the terms of the applicable Indentures relating to the Bonds and this Agreement, the District agrees to pay the Developer upon the issuance of the Bonds from available funds for that purpose under the Indenture, as total payment for all of the Developer’s and any other grantor’s rights or interest in any Improvements to be conveyed to the District, an amount not more than the Purchase Price, which shall not exceed the lesser of the documented actual cost of the Improvements or the Engineer’s estimated fair market value of such Improvements, with the exact purchase price to be based on the certificate of the Engineer, and which is subject to the amount of funds available to the District from the net proceeds of the Bonds, to pay for the Improvements. The Purchase Price is inclusive of any mobility fees or connection charges that are part of the Expansion Area Project, as described in Section 5 of this Agreement and in the Engineer’s Report. The Developer shall convey all the Improvements subject to this Agreement without further right to any additional payments for the Improvements except as provided in Section
below, including the mobility fees and connection charges, by the District and the District’s payment for same shall be in accordance with the terms of this Agreement, the applicable Indentures relating to the Bonds, the resolution or resolutions authorizing the Bonds, and the Engineer’s Report. The payment of the Purchase Price shall occur in the following manner:

Payment. From time to time subsequent to the Effective Date of this Agreement and subsequent to the receipt by the District of funds from proceeds of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions, upon proper requisition as provided by the applicable Indentures relating to the Bonds and upon certification by the Engineer and the Developer in accordance with Section 6 of this Agreement with respect to any portion of the Improvements to be conveyed or already conveyed, the District shall direct the Trustee to pay the Developer such certified amount in one or more installments for each Series of Bonds, as necessary. To the extent that there are sufficient funds available from the net proceeds of the Bonds, including moneys released from the Reserve Account(s) upon satisfaction of the Release Conditions, the District will continue to pay the Developer from such proceeds for certain portions of the Improvements as those portions are conveyed to, and accepted by, the District in accordance with this Agreement, until the earlier of such time as the total Purchase Price shall have been paid to the Developer or there are no longer any funds available to the District from the net proceeds of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions to pay for the Improvements.

No Additional Payment Obligation. Nothing in this Agreement shall obligate the District to make additional payments in the event that there are not sufficient funds available to

the District from the net proceeds of the Bonds or from the Reserve Account(s) upon satisfaction of the Release Conditions to pay for the Improvements.

Maximum Payment. In no event shall the District pay more than the Purchase Price for all of the Improvements, and in the event that there are not sufficient funds from the available net proceeds of the Bonds, or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions to pay for Improvements, then, the Purchase Price shall be reduced to equal the amount of remaining funds available from the available net proceeds of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions, so that payment of such remaining and available funds shall fully satisfy the District’s obligation to the Developer and the Developer shall convey all of the Improvements and real property subject to this Agreement without further right to any additional payments for the Improvements. The acquisition of the Developer’s rights or interest in the Improvements and District’s payment for the same shall be in accordance with the terms of this Agreement and the applicable Indentures relating to the Bonds and with the resolution or resolutions authorizing the Bonds and the Engineer’s Report. Notwithstanding, the parties recognize that the Developer shall not be paid more than the Purchase Price for the Improvements that constitute the Expansion Area Project.

No provision of Section 4 shall relieve the Developer of the completion obligations in Section 7 of this Agreement or which may be contained in a separate completion agreement to be entered into by the District and the Developer prior to the issuance of the Bonds (the “Completion Agreement”). Notwithstanding anything else in this Agreement to the contrary, the District and Developer acknowledge that the District's obligation to pay for the Expansion Area Project is subject to the terms of the Indenture.

The Developer agrees that water and sewer connection charges and mobility fees, as described in the Engineer’s Report are part of the Expansion Area Project. If the Developer pays the connection charges or mobility fees to the applicable governmental authority, it shall be paying them on behalf of the District. To the extent the proceeds of the Series 2026 Bonds are sufficient, the District shall reimburse the Developer from such proceeds if the Developer makes such payments for connection charges or mobility fees. If the Developer is entitled to any mobility fee credits, the Purchase Price for any component of the Expansion Area Project that generated the impact fee credits shall be reduced in like amount.

CONDITION OF IMPROVEMENTS AND PROPERTY; WARRANTY.	At
the time of conveyance by the Developer of the Developer's rights or interest in all or any portion of the completed Improvements, the portion of the Improvements being conveyed shall be in good condition, reasonably free from defects, as determined by the District's Engineer; and Developer warrants to the District, and to any government entity to which the Improvements may be conveyed by the District, that said Improvements shall be free from defects in materials, equipment or construction for a period of one (1) year from the date of conveyance. Developer further agrees, as part of any conveyance of Improvements, to assign to the District any warranties associated with or applicable to the Improvements, but only to the extent capable by their terms of being assigned. Notwithstanding any warranty relating to the Improvements contained herein, the District

acknowledges that any interests in real property conveyed hereunder shall be conveyed in “AS IS, WHERE IS” condition, with no representation, warranty, or recourse, excepting that which is provided in any quit claim deed, opinion of title, or title insurance commitment pertaining to the property.

CERTIFICATIONS. Before any payment by the District for any portion of the Improvements, the District shall be provided with a certificate (or certificates), signed by the District’s Engineer and a certificate (or certificates) (collectively, the "Certifications") signed by the Developer certifying that: (a) the amount to be paid to the Developer for any portion of the Improvements does not exceed the lower of (i) the actual cost paid or to be paid by the Developer for said Improvements (based upon representations of the Developer) or (ii) the fair market value of such Improvements; (b) that said Improvements for which payment is to be made are part of the Expansion Area Project; (c) that said Improvements conveyed or to be conveyed to the District have been installed or constructed in substantial conformity with the plans and specifications and in conformance with applicable rules, regulations, ordinances, laws and all permits and approvals governing the installation or construction of the same; (d) that all currently required approvals and permits for acquisition, construction, reconstruction, installation and equipping of the Improvements or any portion thereof have been obtained or can reasonably be expected to be obtained from all applicable regulatory bodies; (e) that the Developer has paid all contracts, subcontracts and materialmen that have provided services or materials in connection with such Improvements; (f) that sufficient funds are available from the available net proceeds of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions to acquire or construct any remaining portion of the Expansion Area Project; and (g) that each payment to be received by the Developer pursuant to this Agreement does not constitute a loan of the proceeds of the Bonds to the Developer. If sufficient funds are not available from the available net proceeds of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions to acquire or construct any remaining portion of the Expansion Area Project, the project completion obligations of Section 7 shall be invoked and applicable.

Final completion of the Improvements is to be provided by the Developer, and such completion shall be evidenced by a certificate of completion signed by the Developer and the District’s Engineer and delivered to the District.

COMPLETION.

The Developer covenants that it shall cause the Improvements constituting the Expansion Area Project to be completed and conveyed and shall convey or cause to be conveyed any interests in real property necessary for the maintenance and operation of the Improvements or the Expansion Area Project, regardless of whether the proceeds of the Bonds or other amounts available for that purpose under the Indenture are sufficient to cover the costs of such completion and such conveyances. Pursuant to this Agreement and the terms of the Completion Agreement of equal date herewith by and between the District and the Developer, the Developer hereby agrees to complete or cause to be completed or to provide funds to the District in an amount sufficient to allow the District to complete or cause to be completed, those portions of the Improvements which remain unfunded from the sum of the available net proceeds of the Bonds issued by the District and from moneys

from the Reserve Account(s) as result of satisfaction of the Release Conditions, including, but not limited to, all administrative, legal, warranty, engineering, permitting or other related soft costs (collectively, the “Remaining Improvements”), for the Improvements specially benefiting the lands within the Expansion Area.

The Developer acknowledges that the Expansion Area Project Cost will exceed the amount of net proceeds anticipated to be available from the Bonds issued or to be issued by the District.

Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness, or to provide funds for any portion of the Remaining Improvements or interests in real property from any source other than the proceeds of the Bonds, including amounts from the Reserve Account upon satisfaction of the Release Conditions.

APPLICATION OF THE INDENTURES. The acquisition of the Developer's rights or interest in any portion or all of the Expansion Area Project by the District and District's payment for same shall be in accordance with the terms of this Agreement and applicable provisions of the applicable Indentures relating to the Bonds, which are specifically incorporated herein by reference and made a part hereof. In no case shall the cumulative price paid by the District for the Expansion Area Project exceed the lesser of Expansion Area Project Cost or available net proceeds from the issuance of the Bonds or from moneys transferred from the Reserve Account(s) as a result of satisfaction of the Release Conditions.

SUCCESSORS. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of Developer and District, their heirs, executors, receivers, trustees, successors, successors-in-title, and assigns.

CONSTRUCTION OF TERMS. Whenever used, the singular number shall include the plural, the plural the singular; the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.

ENTIRE AGREEMENT. This Agreement contains the entire understanding between the District and the Developer and each agrees that no representation was made by or on behalf of the other that is not contained in this Agreement and that in entering into this Agreement neither party relied upon any representation not herein contained.

CAPTIONS. The captions for each section of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope of intent of this Agreement, or the intent of any provision hereof.

SEVERABILITY. If any provision of this Agreement, the deletion of which would not adversely affect the receipt of any material benefit by any party hereunder or substantially increase the burden of any party hereto, shall be held to be invalid or unenforceable to any extent,

the same shall not affect in any respect whatsoever the validity or enforceability of the remainder of this Agreement.

EXECUTION OF DOCUMENTS. Each party covenants and agrees that it will at any time and from time to time do such acts and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such documents reasonably requested by the parties necessary to carry out fully and effectuate the transaction herein contemplated and to convey good and marketable title for all conveyances subject to this Agreement.

COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be executed by facsimile, which shall be good as an original, and may be detached from the counterparts and attached to a single copy of this document to physically form one document.

AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this Agreement.

AMENDMENTS AND WAIVERS. This Agreement may not be amended, modified, altered, or changed in any respect whatsoever except by a further agreement in writing duly executed by the parties hereto. No failure by District or Developer to insist upon the strict performance of any covenant, duty, agreement, or condition of this Agreement or to exercise any right or remedy upon a breach thereof shall constitute a waiver of any such breach or of such or any other covenant, agreement, term, or condition. Either party hereto, by notice, may but shall be under no obligation to, waive any of its rights or any conditions to its obligations hereunder. No waiver shall affect or alter this Agreement but each and every covenant, agreement, term, and condition of this Agreement shall continue in full force and effect with respect to any other then-existing or subsequent breach thereof. Notwithstanding anything herein to the contrary, this Agreement may not be materially amended in a manner that (a) could have the effect of reducing the total debt service revenue collected or to be collected for payment of debt service on the Bonds issued or or be issued by the District or (b) lessens Developer’s obligations in this Agreement without the written consent of the Trustee for the Bonds, acting at the direction of the Bondholders (as defined in the Indenture) owning a Majority of the aggregate principal amount of the Bonds then outstanding. The term “Majority” shall mean more than fifty (50%) percent.

APPLICABLE LAW. This Agreement is made and shall be construed under the laws of the State of Florida.

COSTS AND FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorney's fees and costs for trial, alternate dispute resolution, or appellate proceedings.

NO THIRD-PARTY BENEFICIARIES. Except as provided below, this Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns (other than homebuyers). Notwithstanding anything herein to the contrary, the Trustee for the Bonds, on behalf of the Bondholders, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and, acting at the direction of the Bondholders (as defined in the Indenture) owning a Majority of the aggregate principal amount of the Bonds then outstanding, shall be entitled to cause the District to enforce the Developer’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.

ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the parties in an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.
ASSIGNMENT. This Agreement, or any monies to become due hereunder, may be assigned by the Developer, provided that the Developer first obtains the prior written approval of the District, which approval shall not unreasonably be withheld. In addition, the Developer may not assign its obligations hereunder without the prior written consent of the Trustee acting at the direction of the holders owning a Majority of the aggregate principal amount of the Bonds outstanding.

FURTHER ASSURANCES. At any and all times, the Developer and District shall, so far as either may be authorized by law, make, do, execute, acknowledge and deliver, all and every other further acts, deeds, conveyances, assignments, transfers and assurances as may be necessary or desirable, as determined by the District, for the better assuring, conveying, granting, assigning and confirming of any and all rights or interest in the Improvements and the real property which are intended or required to be acquired by or conveyed to or by the District as contemplated by the Indenture and this Agreement, including the conveyance, assignment or transfer to other government agencies of such portions of the Improvements or interests in real property as authorized, directed or required by applicable laws or regulations, conditions of development orders, or agreements entered into by the District.

REMEDIES. A default by either party under the Agreement shall entitle the other to all remedies available at law or in equity, which shall include but not be limited to the right of damages and injunctive relief and specifically include the ability of the District to enforce any and all payment obligations under this Agreement through the imposition and enforcement of a

contractual or other lien on property within the District and owned by the Developer, which lien shall be foreclosable in the manner of mechanics’ liens pursuant to Chapter 713, Florida Statutes, or as otherwise provided by law. In the event of the Developer's default under this Agreement, the parties agree as to the absence of adequate remedies at law; therefore, the District shall have, in addition to such rights and remedies as provided above and by general application of law, the right to obtain specific performance of the Developer's obligations hereunder.
SOVEREIGN IMMUNITY. Developer agrees that nothing in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes, as amended, or other statutes or law.

NOTICES. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing and shall be (as elected by the person giving such notice) hand-delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:

District:	Silver Palms West Community Development District 5385 N. Nob Hill Road
Sunrise, Florida 33351 Attention: District Manager

With copy to:	Billing Cochran, P.A.
515 East Las Olas Boulevard, Suite 600 Fort Lauderdale, Florida 33301 Attention: Michael J. Pawelczyk, Esq.

Developer:	Lennar Homes, LLC
5505 Waterford District Drive Miami, Florida 33126
Attn: Carlos Gonzalez, Vice President

With a copy to:	Holland & Knight LLP
515 East Las Olas Boulevard, Suite 1200 Fort Lauderdale, Florida 33301 Attention: Jonathan Marcus, Esq.

Except as otherwise provided in this Agreement, any notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 PM (at the place of delivery) or on a non-business day shall be deemed received the next business day. If any time for giving notice contained in this Agreement would otherwise expire on a non-business day, the notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Any party or other person to whom notices are to be sent or copied may notify the other parties and addressees of any changes in name or address to which notices shall be sent by providing the same on five (5) days written notice to

the parties and addressees set forth herein.

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the date first above written.

Witnesses:

SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT

Print Name

By:		
Teresa Baluja, Chairperson Board of Supervisors

Attest: 	

Ben Quesada, Assistant Secretary

Print Name

	 day of 	, 2026

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this     day of 	, 2026, by Teresa Baluja, as Chairperson of the Board of Supervisors for SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT, who is personally known and/or produced 		 as identification.

[SEAL]		
Notary Public Commission:
STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [ ] online notarization, this    day of 	, 2026, by Ben Quesada, as Assistant Secretary of the SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT, who is
personally known and/or produced 	 as identification.

[SEAL]		
Notary Public Commission:

LENNAR HOMES, LLC, a Florida limited liability company

Witnesses:

By: 	

Greg McPherson, Vice President

Print Name

	 day of 	, 2026

Print Name

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [ ] physicalpresence or [ ] online notarization, this     day of 		, 2026, by Greg McPherson, as Vice President of LENNAR HOMES, LLC, a Florida limited liability company. He is personally known to me or has produced 	 as identification.

Notary Public Commission:

Expansion Area

BLUE TANGO:

WEST PARCEL:
THE NORTH HALF OF THE WEST 330 FEET OF THE EAST HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 25, TOWNSHIP 56 SOUTH, RANGE 39 EAST, DADE COUNTY, FLORIDA, LESS AND EXCEPT THE NORTH 40 FEET THEREOF.

AND

EAST PARCEL:
THE NORTH HALF OF THE EAST HALF OF THE EAST HALF OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 25, TOWNSHIP 56 SOUTH, RANGE 39 EAST, MIAMI-DADE COUNTY, FLORIDA, LESS AND EXCEPT THE SOUTH
138.5 FEET THEREOF AND ALSO LESS AND EXCEPT THE NORTH 40 FEET THEREOF. TOGETHER WITH:
HIATUS PARCEL:
THE WEST HALF OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF THE NORTHWEST QUARTER, LESS THE WEST 330 FEET AND LESS THE NORTH 40 FEET THEREOF OF SECTION 25 TOWNSHIP 56 SOUTH, RANGE 39 EAST MIAMI-DADE COUNTY FLORIDA

Improvements - Expansion Area Project

Stormwater Management and Drainage Facilities. All stormwater management and drainage facilities for the Expansion Area Project, including certain earthwork and drainage improvements and facilities for the onsite and offsite roads, and appurtenant improvements and facilities throughout the development. These stormwater management and drainage facilities are more particularly described in the First Supplemental Engineer’s Report for the Expansion Area, dated January 15, 2026, prepared by Alvarez Engineers, Inc., as may be further amended and supplemented from time to time by the District (collectively, the “Engineer’s Report”).

Sanitary Sewer System. The sanitary sewer system for the Expansion Area Project, as more particularly described in the Engineer’s Report, as well as applicable sanitary sewer connection charges for the Expansion Area Project.

Water Distribution System and Sanitary Sewer System. The water distribution system for the Expansion Area Project, as more particularly described in the Engineer’s Report, as well as applicable water connection charges for the Expansion Area Project.

Roadway/Public Right-of-Way Improvements. The roadway improvements for the Expansion Area Project consist of public right-of-way improvements benefitting the Expansion Area, including the construction of roads in platted public utility and ingress-egress easements and in County right-of-ways, as well as applicable mobility fees, all as more particularly described in the Engineer’s Report.

Conveyance of Interests in Land. Easements and fee simple interests, as identified in Table 1 and Table 2 of the Engineer’s Report, will be granted at no cost to the District prior to the conveyance of completed infrastructure. Water and Sewer easements may also be granted to the District or directly to the water and sewer utility prior to or at the time of the conveyance of completed infrastructure to the District, and subsequently by the District to the water and sewer utility.

Other Improvements. Those other, appurtenant, and related public infrastructure components of the Expansion Area Project, as described and depicted in the Engineer’s Report.

JOINT PARTICIPATION AGREEMENT

THIS JOINT PARTICIPATION AGREEMENT (the “Agreement”) is made and entered into this 10th day of _February , 2026 by and between SILVER PALMS WEST COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter 190, Florida statutes, being situated in Miami-Dade County, Florida, and whose mailing address is 5385 N. Nob Hill Road, Sunrise, Florida 33351 (the “District”); and CORSICA HOMEOWNERS ASSOCIATION, INC., a Florida not-for-profit corporation, whose address is 24455 SW 119 Ave, Princeton, FL 33032 (the “Association”), the District and the Association are sometimes collectively referred to herein as the “Parties.”
WHEREAS, the District is a local unit of special purpose government established by Miami-Dade County Commission by virtue of Ordinance No. 20-126, enacted on December 1, 2020 with an effective date of December 11, 2020; and

WHEREAS, in accordance with Ordinance No. 20-126 and Chapter 190, Florida Statutes, the District has the power to provide security within the District boundaries; and

WHEREAS, the District and the Association, each individually own certain property within the boundaries of the District; and
WHEREAS, the Parties have proposed and agreed to share in the funding necessary to provide security improvements and associated services within the District boundaries, which improvements benefit the owners and residents of the District and Association; and

WHEREAS, the Parties have agreed to share in the funding of the security improvements and associated services to be provided by Flock Group, Inc., a Delaware corporation authorized to do business in the State of Florida (“Flock”) in accordance with the proposal from Flock attached to and made a part hereof as Exhibit A; and
WHEREAS, the Parties agree that the Association shall contract with Flock Group, Inc. to provide for the security improvements and associated services and the District will contribute an amount not to exceed $ 87,500  to the Association for the portion of the security improvements and associated services on District owned property upon the District’s receipt of funding for District’s Fiscal Year 2026 Budget; and

WHEREAS, the District has determined that the security improvements and associated services will serve and particularly benefit the landowners and residents within the District and in accordance with the powers granted to the District for security services.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for such other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the Parties hereto, and subject to the terms and conditions hereof, the Parties agree as follows:

Section 1.	RECITALS. The recitals stated above are true and correct and by this reference are incorporated, inclusive of the above referenced exhibit, into and form a material part of this Agreement.

Section 2.	JOINT PARTICIPATION SECURITY IMPROVEMENTS AND SERVICES.
The Parties are entering into this Agreement with the intention of sharing the costs and expenses incurred in the installation of security improvements and associated services set forth in Flock’s proposal, Exhibit A, which will service to benefit the District’s and Association’s residents and landowners.

The Parties agree that the Association shall enter into the Agreement with Flock to provide the security improvements and associated services for Association owned property and District owned property in accordance with Exhibit A.

The Association acknowledges that the District does not currently have the funds to provide for security services and improvements until after receiving such funds by the District pursuant to the District’s Fiscal Year 2026 Budget.

The Parties agree that providing security improvements and associated services within the community should commence prior to the receipt of District’s funding and that the Association is willing to provide the initial funding by entering into the Agreement with Flock and be responsible for security services within the District.

The District agrees to provide funding in the amount of $ 87,500  to the Association for the District’s allocation of the security improvements and associated services upon District’s receipt of funding for Fiscal Year 2026.

Section 3.	PARTIES’ RESPONSIBILITIES.

The Association shall provide, and be solely responsible for all costs and liabilities that are associated with or arise out of the security services and associated improvements to be provided by Flock pursuant to the agreement entered into the Association and Flock; and

The Association shall ensure that Flock is providing security services in strict compliance with all governmental entities and agencies permits, requirements, rules, acts, statutes, ordinances, orders, regulations and restrictions; and
The Association shall timely pay all invoices, or other manner of billing, for security services and associated improvements with Flock in fulfillment of its obligations under this Agreement.

The District shall providing funding to the Association for the District’s allocation of the security improvements and associated services upon District’s receipt of funding for Fiscal Year 2026 after the Association has provided the executed agreement with Flock and after Flock has installed the security improvements and commenced providing security services.

Section 4.	EVENTS OF DEFAULT; TERMINATION. The occurrence of any one

or more of the following events shall constitute a default in the terms, conditions and obligations of this Agreement.

The Association’s failure to comply with Sections 2 or 3 of this Agreement shall be deemed a material breach of this Agreement, the District, at its sole discretion and without advance notice or opportunity to cure, may elect to terminate this Agreement and have no further obligations to provide funding to the Association as set forth in this Agreement.
At the sole discretion of the District, a breach or material default by the Association under the Agreement, including a failure to timely pay an invoice to Flock, shall entitle the District to all remedies available in law or equity or in an administrative tribunal, which shall include but not be limited to the right of damages, injunctive relief and specific performance.

However, except for emergency situations (as so reasonably determined by the District), before the District may initiate legal action for the Association’s failure or default under this Agreement, the District shall provide advance written notice to the Association of the nature of the alleged failure or default and afford a ten (10) calendar day cure period, and the Association, shall have ten (10) calendar days following the date of receipt of said notice to cure the alleged failure or default through appropriate and substantive remedial action.

Section 5.  NOTICES. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing (including facsimile) and shall be (as elected by the person giving such notice) hand delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:

AS TO THE DISTRICT:	Silver Palms West Community Development District 5385 N. Nob Hill Road
Sunrise, Florida 33351 Attention: District Manager

With a copy to:	Billing, Cochran, Lyles, Mauro & Ramsey, P.A.
515 East Las Olas Blvd., Suite 600 Fort Lauderdale, Florida 33301 Attention: Michael J. Pawelczyk, Esq.
AS TO THE ASSOCIATION:
CORSICA HOMEOWNERS ASSOCIATION, INC. 24455 SW 119 Ave
Princeton, Florida 33032 Attention: Management

Section 6.  INDEMNIFICATION. The Association does hereby indemnify and hold the District harmless of and from any and all loss or liability that the District may sustain or incur by reason of the Association’s assumption of the Services, including any that may result from or arise out of the Association’s misfeasance, malfeasance, non-feasance, negligence or material failure to carry out its obligations under this Agreement, with said indemnification and hold harmless to

include but not be limited to: (A) direct and actual costs and damages, and (B) any and all injuries or damages sustained by persons or damage to property, including such reasonable attorney’s fees and costs (including appellate, arbitration, or mediation) that may be incurred by the District that relate thereto. Provided, however, it is understood that this Section does not (i) indemnify the District for the Association’s misfeasance, malfeasance, non-feasance, gross negligence or failure to carry out the terms and conditions of this Agreement if same is caused by, or at, that direction of the District or (ii) authorize the Association to select or provide legal counsel on behalf of the District. Nothing herein shall be construed or interpreted as a waiver of the protections and immunities afforded the District pursuant to sovereign immunity and Section 768.28, Florida Statutes. The District does hereby expressly agree and understand the Association shall not be liable to the District, for any injury, loss or damage to person or property, caused by the District’s own misfeasance, malfeasance, non-feasance, negligence or intentionally tortious conduct.
Section 7.   INSURANCE.  The Association shall be required to provide to the District a Certificate of Insurance reflecting insurance coverage for the Association whether obtained directly by the Association or Flock, said Certificate of Insurance shall on its face reflect the following, including but not limited to:
the District as an additional insured to the extent of limits of liability; and

the District as the certificate holder of the Certificate of Insurance; and

a statement that the insurance coverage represented by the Certificate of Insurance shall not be terminated, canceled or reduced unless thirty (30) days prior written notice of such termination, cancellation or reduction (or ten (10) days if terminated or canceled for non-payment) is mailed by first class U.S. Mail to the District.

Section 8.  SUCCESSORS. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of Association and District, their heirs, executors, receivers, trustees, successors and assigns.

Section 9.  ENTIRE AGREEMENT. The parties agree that this instrument embodies the complete understanding of the parties with respect to the subject matter of this Agreement and supersedes all other agreements, verbal or otherwise. This Agreement contains the entire understanding between District and Developer and each agrees that no representation was made by or on behalf of the other that is not contained in this Agreement, and that in entering into this Agreement neither party relied upon any representation not herein contained.

Section 10.  SEVERABILITY. The parties agree that if any part, term or provision of this Agreement is held to be illegal or in conflict with any law of the State of Florida or with any federal law or regulation, such provision shall be severable, with all other provisions remaining valid and enforceable.

Section 11.  EXECUTION OF DOCUMENTS. Each party covenants and agrees that it will at any time and from time to time do such acts and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such documents reasonably requested by the parties necessary to carry out fully and effectuate the transaction or performance herein contemplated.

Section 12.	COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be and be taken to be an original, and all collectively deemed one instrument.

Section 13.  AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this Agreement.
Section 14.  AMENDMENTS AND WAIVERS. This Agreement may be amended only by a written instrument signed by both parties. If any party fails to enforce their respective rights under this Agreement, or fails to insist upon the performance of the other party’s obligations hereunder, such failure shall not be construed as a permanent waiver of any rights as stated in this Agreement.

Section 15.  APPLICABLE LAW. This Agreement shall be construed under the laws of the State of Florida.

Section 16. COSTS AND FEES. In the event either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorney’s fees and costs for trial, alternate dispute resolution, or appellate proceedings.

Section 17. NO THIRD-PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns.

Section 18. ARM’S LENGTH TRANSACTION. This Agreement has been negotiated fully between the parties in an arm’s length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

Section 19.  ASSIGNMENT. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of the Association and the District, their receivers, trustees, successors and assigns. This Agreement may not be assigned without the written consent of all parties, and such written consent shall not be unreasonably withheld.

Section 20. EXECUTION OF DOCUMENTS. Each party covenants and agrees that it will at any time and from time to time do such acts and execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, such documents reasonably requested by the parties necessary to carry out fully and effectuate the transaction or performance herein contemplated.
Section 21. CONSTRUCTION OF TERMS. Whenever used, the singular number shall include the plural, the plural the singular; and the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.
Section 22. CAPTIONS. The captions for each section of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope of intent of this Agreement, or the intent of any provision hereof.

Section 23. COUNTERPARTS. This Agreement may be executed in two or more counterparts, each of which shall be and be taken to be an original, and all collectively deemed one instrument. Electronic signatures shall constitute originals for all purposes.

Section 24. PUBLIC RECORDS.

The Association shall, pursuant to and in accordance with Section 119.0701, Florida Statutes, comply with the public records laws of the State of Florida, and specifically shall:
Keep and maintain public records required by the District to perform the Services set forth in this Agreement; and

Upon the request of the District’s custodian of public records, provide the District with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law; and

Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the Agreement if the Association does not transfer the records to the District; and

Upon completion of the Agreement, transfer, at no cost to the District, all public records in possession of the Association or keep and maintain public records required by the District to perform the service or work provided for in this Agreement. If the Association transfers all public records to the District upon completion of the Agreement, the Association shall destroy any duplicate public records that are exempt or confidential and exempt from public disclosure requirements. If the Association keeps and maintains public records upon completion of the Agreement, the Association shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the District, upon request from the

District’s custodian of public records, in a format that is compatible with the information technology systems of the District.

The Association acknowledges that any requests to inspect or copy public records relating to this Agreement must be made directly to the District pursuant to Section 119.0701(3), Florida Statutes. If notified by the District of a public records request for records not in the possession of the District but in possession of the Association, the Association shall provide such records to the District or allow the records to be inspected or copied within a reasonable time. The Association acknowledges that should the Association fail to provide the public records to the District within a reasonable time, the Association may be subject to penalties pursuant to Section 119.10, Florida Statutes.
IF THE ASSOCIATION HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE ASSOCIATION’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT, THE ASSOCIATION MAY CONTACT THE CUSTODIAN OF PUBLIC RECORDS FOR THE DISTRICT AT:

GOVERNMENTAL MANAGEMENT SERVICES-SOUTH FLORIDA, LLC
5385 N. NOB HILL ROAD SUNRISE, FLORIDA 33351
TELEPHONE: (954) 721-8681
EMAIL: info@gmssf.com
Section 25. E-VERIFY. The Association, on behalf of itself and its contractors or subcontractors, hereby warrants compliance with all federal immigration laws and regulations applicable to their employees. The Association further agrees that the District is a public employer subject to the E-Verify requirements provided in Section 448.095, Florida Statutes, and such provisions of said statute are applicable to this Agreement, including, but not limited to registration with and use of the E-Verify system. Notwithstanding the provisions of Section 4.0 above, if the District has a good faith belief that the Association has knowingly hired, recruited, or referred an alien that is not duly authorized to work by the federal immigration laws or the Attorney General of the United Sates for employment under this Agreement, the District shall terminate this Agreement as provided herein. If the District has a good faith belief that a contractor or subcontractor of the Association performing some or all of the Services under this Agreement has knowingly hired, recruited, or referred an alien that is not duly authorized to work by the federal immigration laws or the Attorney General of the United States for employment under this Agreement, the District promptly notify the Association and order the Association to immediately terminate its contract with such contractor or subcontractor. The Association shall be liable for any additional costs incurred by the District as a result of the termination of any contract, including this Agreement, based on the Association’s failure to comply with the E-Verify requirements referenced in this subsection.

Section 26. SCRUTINZED COMPANY CERTIFICATION. The Association hereby swears or affirms that as of the date below the Association is not listed on a Scrutinized Companies list created pursuant to Sections 215.4725, 215.473, or 287.135, Florida Statutes. Pursuant to Section 287.135, Florida Statutes, and further affirms that:
The Association is not participating in a boycott of Israel such that is not refusing to deal, terminating business activities, or taking other actions to limit commercial relations with Israel, or persons or entities doing business in Israel or in Israeli-controlled territories, in a discriminatory manner.
The Association does not appear on the Scrutinized Companies with Activities in Sudan List where the State Board of Administration has established the following criteria:
Have a material business relationship with the government of Sudan or a government-created project involving oil related, mineral extraction, or power generation activities, or
Have a material business relationship involving the supply of military equipment, or
Impart minimal benefit to disadvantaged citizens that are typically located in the geographic periphery of Sudan, or
Have been complicit in the genocidal campaign in Darfur.
The Association does not appear on the Scrutinized Companies with Activities in the Iran Petroleum Energy Sector List where the State Board of Administration has established the following criteria:

Have a material business relationship with the government of Iran or a government-created project involving oil related or mineral extraction activities, or
Have made material investments with the effect of significantly enhancing Iran‘s petroleum sector.

The Association is not engaged in business operations in Cuba or Syria.

Section 27. CONVICTED VENDOR LIST. The Association hereby certifies that the Association is not currently on the Convicted Vendor List maintained pursuant to Section 287.133, Florida Statutes. Pursuant to Section 287.133(2)(a), Florida Statutes, a person or affiliate who has been placed on the convicted vendor list following a conviction for a public entity crime may not submit a bid, proposal, or reply on a contract to provide any goods or services to a public entity; may not submit a bid, proposal, or reply on a contract with a public entity for the construction or repair of a public building or public work; may not submit bids, proposals, or replies on leases of real property to a public entity; may not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under a contract with any public entity; and may not transact business with any public entity in excess of the threshold amount provided in Section 287.017, Florida Statutes, for CATEGORY TWO for a period of thirty-six (36) months following the date of being placed on the convicted vendor list.

Section 28. ANTI-HUMAN TRAFFICKING AFFIDAVIT. The Association shall provide the District with an affidavit executed by an officer or representative of the Association under penalty of perjury attesting that the Association does not use coercion for labor or services as defined in Section 787.06(13), Florida Statutes.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto execute this Agreement and further agree that it shall take effect as of the Effective Date first above written.

Attest:	SILVER	PALMS	WEST	COMMUNITY DEVELOPMENT DISTRICT

__________________

By:		

Print name: Ben Quesada

Print name: Yani Lopez Castillo

Secretary/Assistant Secretary	Chairperson/Vice-Chairperson Board of Supervisors
 12	 day of  February	, 2026

WITNESSES:	CORSICA HOMEOWNERS ASSOCIATION, INC.

Sebastian Martinez

By:

Print Name:	Name: Mailie-Jo Lopez
Title:  President	
Wendy Castellanos-Lopez
Print Name:

(CORPORATE SEAL)

 12	 day of  February	, 2026

EXHIBIT A

f i'ock safety

EXHIBIT A
ORDER FORM

Customer:	FL - Corsica Homeowners Association	Initial Term:	24 Months	
Legal Entity Name:	FL - Corsica Homeowners Association	Renewal Term:	24 Months	
Accounts Payable Email:	yani@corsicahoa.com	Payment Terms:	Net 60	
Address:	24455 Southwest 119Th Avenue Princeton,
Florida 33032	Billing Frequency:	Annual Plan - First Year Invoiced at Signing.	
		Retention Period:	30 Days	

Hardware and Software Products
Annual recurring amounts over subscription term
Item	Cost	Quantity	Total	
Flock Safety Platform			$123,500.00	
Flock Safety LPR Products				
Flock Safety LPR - Neighborhoods, fka Sparrow	Included	14	Included	
Flock Safety Video Products				
Solar Video Camera Fixed, fka Condor	Included	30	Included	
Flock Safety Video Camera PTZ w/ LTE Service, fka Condor	
Included	
2	
Included	

Professional Services and One Time Purchases				
Item	Cost	Quantity	Total	
One Time Fees				
Flock Safety Professional Services				
Professional Services - Standard Implementation Fee	$650.00	14	$9,100.00	
Video Camera Professional Services - Standard Implementation Fee	$750.00	30	$22,500.00	
Video Camera Professional Services - Standard Implementation Fee	$750.00	2	$1,500.00	
		Subtotal Year 1:	$156,600.00	
		Annual Recurring Subtotal:	$123,500.00	
		Estimated Tax:	$0.00	
		Contract Total:	$280,100.00	

Taxes shown above are provided as an estimate. Actual taxes are the responsibility of the Customer. This Agreement will automatically renew for successive renewal terms of the greater of one year or the length set forth on the Order Form (each, a “Renewal Term”) unless either Party gives the other Party notice of non-renewal at least thirty (30) days prior to the end of the then-current term.
The Term for Flock Hardware shall commence upon first installation and validation, except that the Term for any Flock Hardware that requires self-installation shall commence upon execution of the Agreement. In the event a Customer purchases more than one type of Flock Hardware, the earliest Term start date shall control. In the event a Customer purchases software only, the Term shall commence upon execution of the Agreement.

Billing Schedule

Billing Schedule	Amount (USD)	
Year 1		
At Contract Signing	$156,600.00	
Annual Recurring after Year 1	$123,500.00	
Contract Total	$280,100.00	
*Tax not included

Discounts

Discounts Applied	Amount (USD)	
Flock Safety Platform	$0.00	
Flock Safety Add-ons	$0.00	
Flock Safety Professional Services	$0.00	

Product and Services Description
Flock Safety Platform Items	Product Description	
Flock Safety LPR - Neighborhoods, fka Sparrow	Residential grade infrastructure-free (solar power + LTE) license plate recognition camera with Vehicle Fingerprint ™ technology (proprietary machine learning software) and real-time alerts for unlimited users.	

Solar Video Camera Fixed, fka Condor	Community grade live streamed Solar powerd Fixed camera with 30 days of edge storage. VMS included and server free. Installed and maintained by Flock Safety, turn key-no additional software or integrations required. *Flock provided sim card camera is limited to 25 hours per month of live streaming. AC power is also available if needed.	
Flock Safety Video Camera PTZ w/ LTE Service, fka Condor	Law enforcement grade live streamed PTZ camera with 30 days of edge storage. VMS included and server free. Installed and maintained by Flock Safety, turn key-no additional software or integrations required.	
Professional Services - Standard Implementation Fee	One-time Professional Services engagement. Includes site and safety assessment, camera setup and testing, and shipping and handling in accordance with the Flock Safety Standard Implementation Service Brief.	
Video Camera Professional Services - Standard Implementation Fee	
One-time Professional Services engagement. Includes site and safety assessment, camera setup and testing, and shipping and handling in accordance with the Flock Safety Standard Implementation Service Brief.	
Video Camera Professional Services - Standard Implementation Fee	
One-time Professional Services engagement. Includes site and safety assessment, camera setup and testing, and shipping and handling in accordance with the Flock Safety Standard Implementation Service Brief.	

By executing this Order Form, Customer represents and warrants that it has read and agrees all of the terms and conditions contained in the Terms of Service located at https://www.flocksafety.com/cs-terms-and-conditions

The Parties have executed this Agreement as of the dates set forth below.

FLOCK GROUP, INC.	Customer: FL - Corsica Homeowners Association	

By:	
By:			
Dan Haley
Name:	yani@corsicahoa.com
Name:			

Chief Legal Officer
Title:	
Vice-President, Treasurer
Title:	

8/6/2025
Date:	
8/6/2025
Date:	

PO Number:	

Docusign Envelope ID: A1F8143A-4F06-4E6E-BD36-A64E8C03F7D3

EXHIBIT B

Docusign Envelope ID: A1F8143A-4F06-4E6E-BD36-A64E8C03F7D3

2/10/26, 2:28 PM	veridianhq.com Mail - Flock Safety Follow Up

Yani Lopez Castillo <yani@corsicahoa.com>

Flock Safety Follow Up

Kyle Whitmire <kyle.whitmire@flocksafety.com>	Fri, Jul 18, 2025 at 4:35 PM To: Yani Lopez Castillo <yani@corsicahoa.com>

Updated Camera List with Folios:
 License Plate Reader Cameras
 F#001 - Corsica HOA
  F#002 - Silver Palms West - Folio: 30-6924-007-5160
 F#003 - Corsica HOA
  F#004 - Silver Palms West - Folio: 30-6924-008-1910
  F#005 - Silver Palms West - Folio: 30-6924-007-4890
  F#006 - Silver Palms West - Folio: 30-6924-007-4890
 F#007 - Corsica HOA
 F#008 - Corsica HOA
 F#009 - Corsica HOA
 F#010 - Corsica HOA
  F#011 - Silver Palms West - Folio: 30-6924-008-1910
  F#012 - Silver Palms West - Folio: 30-6924-008-1890
  F#013 - Silver Palms West - Folio: 30-6924-007-5360
  F#014 - Silver Palms West - Folio: 30-6924-007-5360

  Fixed Position Surveillance Cameras
  C#001 - Silver Palms West - Folio: 30-6924-007-1060
  C#002 - Silver Palms West - Folio: 30-6924-007-5030
  C#003 - Silver Palms West - Folio: 30-6924-007-4890
  C#004 - Silver Palms West - Folio: 30-6924-007-4890
  C#005- Silver Palms West - Folio: 30-6924-007-4890
  C#006- Silver Palms West - Folio: 30-6924-007-4890
  C#007 - Silver Palms West - Folio: 30-6924-007-5030
  C#008- Silver Palms West - Folio: 30-6924-007-5030
  C#009- Silver Palms West - Folio: 30-6924-007-5140
  C#010- Silver Palms West - Folio: 30-6924-007-5140
  C#011- Silver Palms West - Folio: 30-6924-007-4890
  C#012- Silver Palms West - Folio: 30-6924-007-4890
C#015 - Corsica HOA (clubhouse)
C#016 - Corsica HOA (clubhouse)

  PTZ AC Powered Surveillance Cameras
C#013 - Corsica HOA (clubhouse)
C#014 - Corsica HOA (clubhouse)

[Quoted text hidden]

https://mail.google.com/mail/u/2/?ik=1a4217f98f&view=pt&search=all&permmsgid=msg-f:1838018383324746596&simpl=msg-f:1838018383324746596	1/1

Certificate Of Completion	
Envelope Id: A1F8143A-4F06-4E6E-BD36-A64E8C03F7D3	Status: Completed Subject: Silver Palms West: Complete with Docusign: joint participation agreement.security.hoa.10.22.25.pdf
Source Envelope:
Document Pages: 18	Signatures: 3	Envelope Originator:
Certificate Pages: 2	Initials: 0	Ellen Acosta

AutoNav: Enabled
EnvelopeId Stamping: Enabled
Time Zone: (UTC-08:00) Pacific Time (US & Canada)

1001 Bradford Way
Kingston, TN 37763 eacosta@gmssf.com
IP Address: 162.199.192.217

Record Tracking	

Status: Original
2/12/2026 8:49:42 AM

Holder: Ellen Acosta
eacosta@gmssf.com

Location: DocuSign

Signer Events	Signature	Timestamp

Ben Quesada BQuesada@gmssf.com
Security Level: Email, Account Authentication (None)

Signature Adoption: Pre-selected Style Using IP Address: 139.68.243.51

Sent: 2/12/2026 8:52:15 AM Viewed: 2/12/2026 8:52:35 AM Signed: 2/12/2026 9:52:41 AM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

Mailie-Jo Lopez mailie@corsicahoa.com President
Security Level: Email, Account Authentication
(None)	Signature Adoption: Pre-selected Style
Using IP Address: 2607:fb91:2899:8b1:e82e:c5e2:1527:fc96
Signed using mobile

Sent: 2/12/2026 8:52:15 AM Viewed: 2/12/2026 12:58:32 PM Signed: 2/12/2026 12:59:20 PM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

Sebastian Martinez Sebastian@veridianhq.com
Security Level: Email, Account Authentication (None)

Completed

Using IP Address: 38.100.72.21

Sent: 2/12/2026 8:52:16 AM Viewed: 2/12/2026 9:07:24 AM Signed: 2/12/2026 9:07:31 AM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

Wendy Castellanos-Lopez Wendy@corsicahoa.com
Security Level: Email, Account Authentication (None)

Completed

Using IP Address: 2600:1702:5cc0:3570:d932:1b9e:c690:b80f

Sent: 2/12/2026 8:52:17 AM Viewed: 2/12/2026 9:31:07 AM Signed: 2/12/2026 9:31:41 AM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

Signer Events	Signature	Timestamp

Yani Lopez Castillo Yani.lopezcastillo@gmail.com Chairman
Security Level: Email, Account Authentication
(None)	Signature Adoption: Pre-selected Style
Using IP Address: 2600:1702:5cc0:a9e0:38fa:3a1e:63a0:5dee

Sent: 2/12/2026 8:52:17 AM Viewed: 2/12/2026 8:59:30 AM Signed: 2/12/2026 8:59:48 AM

Electronic Record and Signature Disclosure:
Not Offered via Docusign

In Person Signer Events	Signature	Timestamp	
			
Editor Delivery Events	Status	Timestamp	
			
Agent Delivery Events	Status	Timestamp	
			
Intermediary Delivery Events	Status	Timestamp	
			
Certified Delivery Events	Status	Timestamp	
			
Carbon Copy Events	Status	Timestamp	
			
Witness Events	Signature	Timestamp	
			
Notary Events	Signature	Timestamp	
			
Envelope Summary Events	Status	Timestamps	
Envelope Sent	Hashed/Encrypted	2/12/2026 8:52:17 AM	
Certified Delivered	Security Checked	2/12/2026 8:59:30 AM	
Signing Complete	Security Checked	2/12/2026 8:59:48 AM	
Completed	Security Checked	2/12/2026 12:59:20 PM	
Payment Events	Status	Timestamps	

LAW OFFICES
BILLING@COCHRAN
ESTABLISHED 1977

KENNETH W. MORGAN, JR. MICHAEL J. PAWELCZYK "IANUEL R. CO"IRAS ANDREW A. RIEF
JEFFERY R. LAWLEY GINGER E. WALD SCOTT C. COCHRAN
ALINE 0, MARCANTONIO JOHN C. WEBBER

STEVEN F. BILLING ( 1947·1998) HAYWARD 0, GAY (1943·2007)

BILLING COCHRAN, P.A. LAS DLAS SQUARE, SUITE 600
515 EAST LAS OL-',S BOULEVARD FORT LAUDERDALE, FLORIDA 33301
(954) 764·7150
(954) 764·7279 FAX

PGA NATIONAL OFFICE CENTER
300 AVENUE OF THE CHAMPIONS, SUITE 270 PALM BEACH GARDENS, FLORIDA 33418
(561) 659-5970
(561) 659-6173 FAX

CHRISTINE A. BROWN GABRIELLA A. FERNANDEZ PEREZ
MARLENE E. GONZALEZ LORI 8, LEWELLEN
LIZA E. SMOKER LUCAS A. WILLIAMS

OF COUNSEL: CLARK J. COCHRAN, JR. SUSAN F. DELEGAL DENNIS E. LYLES
BRUCE M. RAMSEY
RICHARDT.  WOULFE

WWW.Bl LLI NGCOCH RAN ,COM PLEASE REPLY TD: FORT LAUDERDALE

February 3, 2026

VIA E-MAIL ONLY- B0uesada@gmssf.com

Mr. Ben Quesada District Manager
Governmental Management Services 5385 N. Nob Hill Road
Sunrise, FL 33351

Re:	Adjustment to District Counsel Fee Structure
Silver Palms West Community Development District Our File: 1095.20322
Dear Ben:
This fim1's cunent fee structure has been in place since 2020. Although we are certainly mindful of the necessity to keep increases in the District's expenses, including the cost of legal services, to a minimum, it has become necessary for us to adjust our hourly rates effective, October 1, 2026, as follows:

Attorneys/Partners:
Attorneys/Associates:

$325.00 per hour
$250.00 per hour

This hourly fee structure will be adjusted on a periodic basis in connection with the District's budget process no later than every third Fiscal Year to reflect changes in the Consumer Price Index published by the U.S. Department of Labor.

Mr. Ben Quesada February 3, 2026
Page 2

Naturally, should you feel you have any questions or require any further information in support of this adjustment you should feel free to contact me at your convenience. As I think you are aware, we very much appreciate the opportunity to serve as District Counsel as well as your courtesy and cooperation with regard to the necessity of what we believe to be both infrequent and reasonable adjustments to our schedule of professional fees.

Very t
ichae For the
MJP/jmp
cc: Jennifer McConnell, OMS (via email only)

January 2, 2026 Board of Supervisors
Silver Palms West Community Development District Attn: District Manager Ben Quesada
Governmental Management Services 5385 N Nob Hill Road
Sunrise, FL 33351

Reference:	Silver Palms West Community Development District Alvarez Engineers Personnel Billing Rates
Via:	Email Only: BQuesada@gmssf.com

Dear Board of Supervisors,

In accordance with the terms of the Engineering Agreement, dated September 17, 2021, between Alvarez Engineers, Inc. and the CDD, I would like to respectfully request the Board of Supervisors to consider updating our hourly personnel billing rates and staff classifications to our proposed 2026 rates as shown in the attached table.

With this proposed adjustment, we do not expect to exceed the Engineering budget adopted by the Board of Supervisors for fiscal year 2026.

Please let me know if you have any questions or if you would like to discuss this further. Sincerely,

Juan R. Alvarez, President Alvarez Engineers, Inc.

M:\Accounting\5. Income\Invoices\Invoicing Forms & Procedures\AE - Billing Rates\Billing Rates (2026)\Rate Adjustment Requests\GMS\Ben Quesada\211001 - SPW (2026.01.02) Rate Adjustment Letter.Doc

Silver Palms West CDD	
Current 2021 Rates	Proposed 2026 Rates	
Principal	$ 210.00	Principal	$ 240.00	
Chief Engineer	$ 210.00	Chief Engineer	$ 230.00	
		Project Manager	$ 215.00	
Senior Engineer	$ 180.00	Senior Engineer	$ 185.00	
Senior Project Engineer	$ 155.00	Engineer 2	$ 165.00	
Project Manager	$ 155.00			
Project Engineer	$ 135.00	Engineer 1	$ 155.00	
		Electrical Engineer	$ 155.00	
Engineer	$ 130.00	Engineer Intern	$ 140.00	
		Senior Designer	$ 120.00	
Computer Aided Design and Drafter
(CADD)	$ 98.00	CADD/Computer Technician	$ 105.00	
		Senior Engineering Technician	$ 110.00	
Engineering Technician	$ 88.00	Engineering Technician	$ 100.00	
Senior Administrative	$ 86.00	Senior Administrative	$ 95.00	
Administrative	$ 52.00	Administrative	$ 70.00	

Staff Classification	Definition
Principal
Chief Engineer	Professional Engineer with 15+ years of experience Project Manager	Professional Engineer with 10+ years of experience
Senior Engineer	Professional Engineer with 10+ years of experience (production) Engineer 2	Professional Engineer with 5+ years of experience
Engineer 1	Professional Engineer with 0+ years of experience
Electrical Engineer	Electrical Engineer with 2+ years of post-graduate experience Engineer Intern	Entry level with engineering degree; Engineering Intern License Senior Designer	15+ years of design experience, non-registered CADD/Computer Technician	Design and Drafting with 1+ years of experience
Senior Engineering Technician  5+ years of experience
Engineering Technician	Entry level with 0-4 years of experience
Senior Administrative	Degreed executive assistant with 8+ years of experience Administrative	Secretary / Clerical

2

Silver Palms West CDD

FIELD REPORT
February 26, 2026

Governmental Management Services-South Florida, LLC 5385 N. Nob Hill Road Sunrise, FL 33351

LANDSCAPING
Landscaping services were provided by Veridian Group.

Requested turf ant treatment along 117 AVE on 1.29.2026.

	

	

Clusia hedges on SW 247 TER were removed from Miami-Dade County setback on 120 AVE and replanted behind the Guardrail.

Veridian provided wet check repairs and replanted hedges within District boundary lines, as requested, on 1.30.2026.
Invoice for completed hedge installation included in February agenda for ratification.

Field Maintenance

Holiday lights were removed on February 10, 2026.

	

Management reached out to builder overseeing roadway improvements on SW 120 AVE. The drainage structure covers were repositioned.
The District Engineer confirmed that the drainage structures on SW 120 AVE do not connect with Silver Palms West drainage system.

EXHIBIT A
District Ownership Map

Corsica Homeowners Association
INVOICE
Payable to: Corsica Homeowners Association
24455 SW 119th Ave Princeton, Florida 33032

Invoice #: SPW-INV-002 Invoice Date: 2/05/26 Due Date: 2/05/26
Bill To: Silver Palms West HOA

Costs for Project
Cost Breakdown Clusia landscaping Installation: Price of $13,000 + Disposal $500

Clusia Landscaping
Description	Costs
Clusia Landscaping Installation	$	13,000.00	
Clusia Disposal	$	500.00	
Total Due	$	13,500.00

Please make checks payable to: Corsica Homeowners Association c/o Veridian Group
382 NE 191 St., Suite 82781
Miami, FL 33179

Silver Palms West	
COMMUNITY DEVELOPMENT DISTRICT	

Fiscal Year 2026	
Check Register	

1/1/26 - 1/31/26

Date

check #'s

Amount

1/1 - 1/31	187 - 192	$	46,610.99	

TOTAL	$46,610.99	

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/12/26	PAGE	1
*** CHECK DATES 01/01/2026 - 01/31/2026 ***	SILVER PALMS WEST - GENERAL
BANK A REGIONS BANK

	AMOUNT	#	
*	1,070.00			
*	3,091.25			
*	47.67			
*	190.83			
*	95.42			
*	2.22			

CHECK	VEND#	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME	STATUS	AMOUNT	....CHECK..... DATE			DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS

1/07/26 00001	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	
	1/01/26	

77	202601 320-53800-34000
JAN 26 - FIELD SERVICES
78	202601 310-51300-34000
JAN 26 - MGMT FEES
78	202601 310-51300-35100
JAN 26 - COMPUTER TIME
78	202601 310-51300-31300
JAN 26 - DISSEMINATION
78	202601 310-51300-49500
JAN 26 - WEBSITE ADMIN
78	202601 310-51300-42000
JAN 26 - POSTAGE
GMS-SF, LLC	4,497.39 000187
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/07/26 00009	1/05/26 28485	202601 310-51300-32200	*	5,200.00
AUDIT FYE 09/30/2025
GRAU AND ASSOCIATES	5,200.00 000188
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/07/26 00012	1/06/26 01062026 202601 300-20700-10000	*	22,515.78
TRANSFER OF TAX RECEIPTS
SILVER PALMS WEST CDD	22,515.78 000189
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/15/26 00008	1/07/26 8945	202512 310-51300-31100	*	366.25
DEC 25 - ENGINEERING SVCS
ALVAREZ ENGINEERS	366.25 000190
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/15/26 00003 12/31/25 196697	202512 310-51300-31500	*	567.00
DEC 25 - GENERAL COUNSEL
BILLING COCHRAN, P.A.	567.00 000191
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/15/26 00012	1/14/26 01142026 202601 300-20700-10000	*	13,464.57
TRANSFER OF TAX RECEIPTS
SILVER PALMS WEST CDD	13,464.57 000192
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL FOR BANK A	46,610.99
TOTAL FOR REGISTER	46,610.99

SPW	SILVER PALMS W SRINKUS

Silver Palms West	
Community Development District	

Unaudited Financial Reporting	
January 31, 2026	

Table of Contents

1		Balance Sheet	

2-3	
	General Fund	

4	
	Debt Service Fund Series 2022	

5	
	Capital Project Fund Series 2022	

6-7	
	Month to Month	

8	
	Long Term Debt Report	

9	
	Assessment Receipt Schedule	

Silver Palms West	
Community Development District	
Combined Balance Sheet	
January 31, 2026	

Fund Balance:	
Restricted for:	
Debt Service	
Capital Project	
Unassigned	

$	-	
100,709	
-	

$	1,266,905	
100,709	
1,032,893	

General	Debt Service	Capital Project	Totals	
Fund	Fund	Fund	Governmental Funds	

Assets:	
Cash:	
Operating Account	
Due from General Fund	

$	130,575	
-	

$	-	
-	

$	-	
-	

$	130,575	
-	

Investments:	
State Board of Administration (SBA)	

912,165	-	-	912,165

Series 2022	
Reserve	
Revenue	
Acq & Construction	

-	
-	
-	

416,453	
850,452	
-	

-	
-	
100,709	

416,453	
850,452	
100,709	

Total Assets	$	1,042,740	$	1,266,905	$	100,709	$	2,410,354	
Liabilities:	
Accounts Payable	$	9,848	$	-		$	-		$	9,848	
Due to Debt Service	-		-		-	-	

Total Liabilites	$	9,848	$	-	$	-	$	9,848	

	$	-	$	1,266,905			
					
	1,032,893	-			
Total Fund Balances	$	1,032,893	$	1,266,905	$	100,709	$	2,400,506	
					
Total Liabilities & Fund Balance	$	1,042,740	$	1,266,905	$	100,709	$	2,410,354	

Silver Palms West	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Revenues:		
Special Assessments - Tax Roll	$	742,151	
Interest Income	3,000	

	
$	684,962	
1,000	

	
$	684,962	
5,772	

	
$	-	
4,772	

Total Revenues	$  745,151	$  685,962	$  690,734	$	4,772	
Expenditures:					
General & Administrative:					
Supervisor Fees	$	12,000	$	4,000	$	1,200	$	2,800	
FICA Taxes	918	306	92	214	
Engineering	10,000	3,333	3,667	(333)	
Attorney	15,000	5,000	10,413	(5,413)	
Annual Audit	5,200	5,200	5,200	-	
Assessment Administration	3,000	3,000	3,000	-	
Arbitrage Rebate	550	-	-	-	
Dissemination Agent	2,290	763	763	-	
Trustee Fees	4,434	-	-	-	
Management Fees	37,095	12,365	12,365	-	
Information Technology	572	191	191	-	
Website Maintenance	1,145	382	382	-	
Telephone	50	17	-	17	
Postage & Delivery	150	50	13	37	
Insurance General Liability	7,041	7,041	6,163	878	
Printing & Binding	750	250	-	250	
Legal Advertising	2,000	667	618	49	
Other Current Charges	1,500	500	585	(85)	
Office Supplies	90	30	-	30	
Dues, Licenses & Subscriptions	175	175	175	-	
Total General & Administrative	$  103,960	$	43,269	$	44,825	$	(1,556)	

Silver Palms West	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Field Expenditures

Field Expenditures		
Field Management	$	12,840	
Landscape Maintenance	195,000	
Landscape - One Time Enhancement Project	112,500	
Security Service	253,000	
Porter Services	12,000	
Plant Replacement	10,000	
Repairs & Maintenance	11,000	
Drainage Maintenenance	10,000	
Sidewalk Repair	14,851	
Contingency	10,000	

$	4,280	$	4,280	$	-	
65,000	-	65,000	
37,500	-	37,500	
84,333	-	84,333	
4,000	-	4,000	
3,333	-	3,333	
3,667	2,775	892	
3,333	-	3,333	
4,950	-	4,950	
3,333	-	3,333	

Subtotal Field Expenditures	$  641,191	$  213,730	$	7,055	$	206,675	

Total Expenditures	$  745,151	$  257,000	$	51,880	$	205,120	

Excess (Deficiency) of Revenues over Expenditu	$	-	$	428,963	$	638,854	$	209,891	

Net Change in Fund Balance	$	-	$  428,963	$  638,854	$	209,891	
	
Fund Balance - Beginning	$	-		$	394,039		
	
Fund Balance - Ending	$	-		$ 1,032,893		

Silver Palms West	
Community Development District	
Debt Service Fund Series 2022	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/26	Thru 01/31/26	Variance	

Revenues:		
Special Assessments - Tax Roll	$	832,906	
Interest Income	15,000	

$	766,966	
5,000	

$	766,966	
9,416	

$	-	
$	4,416	

Total Revenues	$  847,906	$	771,966	$	776,382	$	4,416	

Expenditures:		
Interest - 12/15	$	250,819	$	250,819	$	250,819	$	-	
Principal - 06/15	335,000	-	-	-	
Interest - 06/15	250,819	-	-	-	
Total Expenditures	$  836,638	$	250,819	$	250,819	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	11,268	$	521,147	$	525,563	$	4,416	
Other Financing Sources/(Uses):

Transfer In/(Out)	$	(10,000)	

$	(3,333)	$

(4,867)	$

(1,534)

Total Other Financing Sources/(Uses)	$	(10,000)	$	(3,333)	$	(4,867)	$	(1,534)	
		
Net Change in Fund Balance	$	1,268	$	517,813	$	520,696	$	2,883	
		
Fund Balance - Beginning	$	276,168	$	746,209	
		
Fund Balance - Ending	$	277,436	$	1,266,905	

Silver Palms West	
Community Development District	
Capital Projects Fund Series 2022	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/26	Thru 01/31/26	Variance	

Revenues		
Interest Income	$	-	

$	-	$

1,132	$

1,132

Total Revenues	$	-	$	-	$	1,132	$	1,132	

Expenditures:		
Capital Outlay	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	1,132	$	1,132	
Other Financing Sources/(Uses)

Transfer In/(Out)	$	-	

$	-	$

4,867	$

4,867

Total Other Financing Sources (Uses)	$	-	$	-	$	4,867	$	4,867	

Net Change in Fund Balance	$	-	$	5,999	
		
Fund Balance - Beginning	$	-	$	94,710	
		
Fund Balance - Ending	$	-	$	100,709	

Silver Palms West	
Community Development District	
Month to Month	

Revenues:														
Special Assessments - Tax Roll	$	-	$	89,338	$  582,062	$	13,563	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  684,962	
Interest Income	752	706	1,315	2,999	-	-	-	-	-	-	-	-	5,772	

Total Revenues	$	752	$  90,044	$ 583,377	$  16,561	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 690,734	

Expenditures:														
General & Administrative:														
Supervisor Fees	$	600	$	-	$	-	$	600	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	1,200	
FICA Taxes	46	-	-	46	-	-	-	-	-	-	-	-	$	92	
Engineering	-	-	366	3,301	-	-	-	-	-	-	-	-	$	3,667	
Attorney	3,417	500	567	5,929	-	-	-	-	-	-	-	-	$	10,413	
Annual Audit	-	-	-	5,200	-	-	-	-	-	-	-	-	$	5,200	
Assessment Administration	3,000	-	-	-	-	-	-	-	-	-	-	-	$	3,000	
Arbitrage Rebate	-	-	-	-	-	-	-	-	-	-	-	-	$	-	
Dissemination Agent	191	191	191	191	-	-	-	-	-	-	-	-	$	763	
Trustee Fees	-	-	-	-	-	-	-	-	-	-	-	-	$	-	
Management Fees	3,091	3,091	3,091	3,091	-	-	-	-	-	-	-	-	$	12,365	
Information Technology	48	48	48	48	-	-	-	-	-	-	-	-	$	191	
Website Maintenance	95	95	95	95	-	-	-	-	-	-	-	-	$	382	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	$	-	
Postage & Delivery	5	4	1	2	-	-	-	-	-	-	-	-	$	13	
Insurance General Liability	6,163	-	-	-	-	-	-	-	-	-	-	-	$	6,163	
Printing & Binding	-	-	-	-	-	-	-	-	-	-	-	-	$	-	
Legal Advertising	-	-	-	618	-	-	-	-	-	-	-	-	$	618	
Other Current Charges	136	153	156	140	-	-	-	-	-	-	-	-	$	585	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	$	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	$	175	
Total General & Administrative	$  16,967	$	4,081	$	4,516	$  19,261	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  44,825	

Silver Palms West	
Community Development District	
Month to Month	

Operations & Maintenance		
Field Expenditures		
Field Management	$	1,070	$	1,070	$	1,070	$	1,070	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	4,280	
Landscape Maintenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Landscape - One Time Enhanacement Project	-	-	-	-	-	-	-	-	-	-	-	-	-	
Security Service	-	-	-	-	-	-	-	-	-	-	-	-	-	
Porter Services	-	-	-	-	-	-	-	-	-	-	-	-	-	
Plant Replacement	-	-	-	-	-	-	-	-	-	-	-	-	-	
Repairs & Maintenance	-	2,775	-	-	-	-	-	-	-	-	-	-	2,775	
Drainage Maintenenance	-	-	-	-	-	-	-	-	-	-	-	-	-	
Sidewalk Repair	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	

Subtotal Field Expenditures	$	1,070	$	3,845	$	1,070	$	1,070	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	7,055	

Total Expenditures	$  18,037	$	7,926	$	5,586	$  20,331	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  51,880	

Excess (Deficiency) of Revenues over Expe	$  (17,286)	$	82,117	$  577,791	$	(3,769)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  638,854	

Net Change in Fund Balance	$ (17,286)	$  82,117	$ 577,791	$	(3,769)	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$ 638,854	

Silver Palms West	
Community Development District	
Long Term Debt Report	

	

	

	

	

Series 2022, Special Assessment Bonds

Original Bond Issue Amount:	$15,085,000

Term 1:	$1,625,000	
Interest Rate:	2.60%	
Maturity Date:	June 15, 2027

Term 1:	$1,865,000
Interest Rate:	3.00%
Maturity Date:	June 15, 2032

Term 1:	$4,755,000
Interest Rate:	3.25%
Maturity Date:	June 15, 2042

Term 1:	$6,840,000
Interest Rate:	4.00%
Maturity Date:	June 15, 2052

Reserve Fund Definition	50% of Maximum Annual Debt Service Reserve Fund Requirement		$416,453
Reserve Fund Balance	416,453

Bonds Outstanding - 1/31/22	$15,085,000
Less: Principal Payment - 6/15/23	($310,000)
Less: Principal Payment - 6/15/24	($315,000)
Less: Principal Payment - 6/15/25	($325,000)

Current Bonds Outstanding	$14,135,000	

Page 8

Silver Palms West
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Miami/Dade County Fiscal Year 2026

Gross Assessments  $	781,213.36	$	876,743.15  $	1,657,956.51

ON ROLL ASSESSMENTS

Net Assessments	$

742,152.69	$

832,905.99  $

1,575,058.68

allocation in %	47.12%	52.88%	100.00%

Date	
Gross Amount	Discount/
Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	2022	Debt
Service	
Total	

11/14/25	
$	51,853.93	
$	2,074.11	
$	497.80	
$	-	
$	49,282.02	
$	23,221.22	
$	26,060.80	
$	49,282.02	
11/15/25	3,589.35	157.38	34.32	-	3,397.65	1,600.94	1,796.71	3,397.65	
11/28/25	144,066.02	5,762.50	1,383.03	-	136,920.49	64,515.63	72,404.86	136,920.49	
12/05/25	1,254,969.00	50,199.06	12,047.70	-	1,192,722.24	561,999.39	630,722.85	1,192,722.24	
12/19/25	44,546.81	1,538.48	430.09	-	42,578.24	20,062.46	22,515.78	42,578.24	
01/09/26	24,463.75	733.90	237.30	-	23,492.55	11,069.47	12,423.08	23,492.55	
01/09/26	2,050.91	61.53	19.89	-	1,969.49	928.00	1,041.49	1,969.49	
01/23/26	-	-	-	1,565.17	1,565.17	1,565.17	-	1,565.17	
	-	-	-	-	-	-	-	-	
TOTAL	$ 1,525,539.77	$	60,526.96	$	14,650.13	$	1,565.17	$ 1,451,927.85	$	684,962.28	$	766,965.57	$ 1,451,927.85	

92.01%
$	132,416.74

Percent Collected Balance Remaining to Collect

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