Lake Ashton II Community Development District
Doug Robertson, Chairman Jim Mecsics, Vice Chairman
Stan Williams, Assistant Secretary Carla Wright, Assistant Secretary Bob Zelazny, Assistant Secretary

October 7, 2019

Governmental
�anagement Services

 	Commun	

5385 N. Nob Hill Road, Sunrise, Florida 33351 Phone: 954-721-8681- Fax: 954-121-9202

September 30, 2019
Board of Supervisors Lake Ashton II

Community Development District
Dear Board Members:

The continued special meeting of the Board of Supervisors of Lake Ashton II Community Development District is scheduled to reconvene on October 7, 2019 at 1 :00 p.m. at the Lake Ashton Health & Fitness Center, 6052 Pebble Beach Boulevard, Winter Haven, Florida. Foll�wing is the advance agenda:
Roll Call and Pledge of Allegiance
Approval of Meeting Agenda

Public Comments on Specific Items on the Agenda (speakers will fill out a card and submit it to the District Manager  prior  to  beginning  of  the  meeting.  Individuals  providing  speaker  cards  will  also  have  an opportunity to speak prior to Board action)

Approval of the Minutes of the August 9, 2019 Meeting

Discussion of Golf Course Acquisition

Boulevard Palm Replacement Update
General Public Comments

Financial Reports
Approval of Check Run Summary

Combined Balance Sheet

Adjournment

MINUTES OF MEETING LAKE ASHTON II
COMMUNITY DEVELOPMENT DISTRICT
A special meeting of the Board of Supervisors of the Lake Ashton II Community Development District was held on August 9, 2019 at 9:00 a.m. at the Lake Ashton II Health & Fitness Center, 6052 Pebble Beach Boulevard, Winter Haven, Florida 33884.

Present and constituting a quorum:
Doug Robertson James Mecsics Bob Zelazny Stanley Williams Carla Wright
Also present:
Jillian Burns Mike Eckert Alan Rayl Mary Bosman
Michael Cooper Numerous residents

Chairman Vice Chairman
Assistant Secretary Assistant Secretary Assistant Secretary

District Manager District Counsel District Engineer Community Director Billy Casper

FIRST ORDER OF BUSINESS	Roll Call and Pledge of Allegiance
Ms. Burns called the roll and the pledge of allegiance was recited.
Mr. Mecsics asked for a moment of silence in honor of Mr. Frank Ota, a long-time Lake Ashton resident and veteran who had recently passed away.
SECOND ORDER OF BUSINESS	Approval of Meeting Agenda
Mr. Robertson explained that several presentations would be made by him, District Counsel, asked for any other items that needed to be included, and then asked for a motion to approve the meeting agenda as-amended.
On MOTION by Mr. Zelazny seconded by Mr. Mecsics with all in favor the meeting agenda was approved as-amended to include the presentations.

Mr. Robertson gave a presentation about losses of property values when the golf course acquisitions were not pursued and the community lost control of their golf courses,

 	 	

August 9, 2019	Lake Ashton II COD

explained various ways to save the District money, how the golf course would be funded, and how to keep control over things without having to increase assessments drastically. Mr. Eckert gave a presentation related to a possible new interlocal agreement between Lake Ashton COD and Lake Ashton II COD about ownership and responsibilities
for the golf course.

FOURTH ORDER OF BUSINESS	Discussion	of	Continuing	Golf
Course Acquisition
Billy Casper Peer Review Report (Michael Cooper from Billy Casper will be in attendance)
Mr. Cooper explained his firm was retained as part of the due diligence to provide a peer review of the report provided by Hampton Golf and there were significantly different views on required capital needs going forward and how it would affect assessment costs to each member. Billy Casper currently operated 154 golf courses and owned or leased 66 golf courses and a lot of the recommendations were made with ownership mentality.
Mr. Williams asked about coverages for hurricanes and capital expenditures.
Mr. Cooper responded that although they would have insurance coverage, the golf course owners would still be responsible for expenses not covered.
Mr. Zelazny indicated the information provided by Mr. Cooper was very extensive and helpful and encouraged all of the residents who were concerned about the expenses with acquiring the golf course to read through it.
THIRD ORDER OF BUSINESS	Public Comments
Mr. David Cline, of 4513 Back Nine Drive, Lake Ashton II COD, indicated support of acquisition of the golf course as a long-term investment and encouraged the Board to move forward and come to a reasonable conclusion to salvage property values for the community and heal some of the toxic atmosphere.
Mr. Carl Luebking, of 5269 Green Drive, Lake Ashton II COD explained why he felt the two CDDs would never become one community and Lake Ashton II COD should continue to move forward with acquisition of the golf course without Lake Ashton COD.
Mr. Alan Cinquino, of 5413 Hogan Lane, Lake Ashton II COD, asked why the COD was considering purchasing the golf course when a professional golf group decided not to make an offer and Lake Ashton COD bailed on the whole deal, as well.

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August 9, 2019	Lake Ashton II COD

Mr. Roger Fritz, of 546 Hogan Lane, Lake Ashton II COD, suggested the residents should be able to vote on if they wanted the golf course acquisition for the community.
Ms. Jan Wagner, of 5528 Hogan Lane, Lake Ashton II COD, discussed the strong commitment from many golfers and how acquiring it would be an asset to the community. Mr. Gerry Levitt, of 4544 Back Nine Drive, Lake Ashton II COD, expressed his opposition for Lake Ashton II COD purchasing the golf course and the amount of money
being spent towards it without getting input from the residents.
Mr. Allan Stollerman, of 4528 Grayhawk Drive, Lake Ashton II COD, expressed opposition in spending any more money on the golf course acquisition and suggested waiting a few years before moving forward.
Mr. Danny Turner, of 5424 Hogan Lane, Lake Ashton II COD, asked why the Board was still considering the acquisition if Billy Casper decided not to and suggested allowing the residents to vote to determine whether it was really what the community wanted.
Ms. Vickie Howell, of 4564 Back Nine Drive, Lake Ashton II COD, mentioned many residents had contacted her, knowing she was a realtor to put their homes on the market if Lake Ashton II COD decided to bear the financial burden of buying the golf course without Lake Ashton COD and felt it was unfair.
Ms. Colette McKie, of 5325 Hogan Lane, Lake Ashton II COD, explained why she and her husband bought property in Lake Ashton rather than a few others and reminded the Board it was their fiduciary responsibility to do what was best for the community.
Mr. Dan McGurren, of 4540 Back Nine Drive, Lake Ashton II COD, thanked the Board members for all of their hard work to make the community what it was today and encouraged them to move forward with the golf course acquisition.

Mr. Sheldon McMahon, of 5497 Hogan Lane, Lake Ashton II COD, discussed golf course acquisition costs and explained why Lake Ashton COD decided to back out.
Ms. Marcia Liebman, of 4445 Ventana Lane, Lake Ashton COD, mentioned the windows and roof in the card room were leaking and had been since June and were in need of repair before someone fell and got hurt.
Mr. Ken Lorentz, of 4041 Phoenician Way, Lake Ashton II COD, gave statistics on golf courses closing and supply and demand, and explained the negative impact the costs of the acquisition were having on the community now that Lake Ashton COD backed out.

 	

August 9, 2019	Lake Ashton II COD

Ms. Sue Lorentz, of 4041 Phoenician Way, Lake Ashton II COD, encouraged the Board not to rush with the acquisition because the developer was still building for at least three more years and it would affect the Lake Ashton II community financially now that Lake Ashton COD backed out.
Ms. Joanne Hittner, of 5321 Nicklaus Drive, Lake Ashton II COD, asked why the costs for the golf course acquisition kept going up and reminded the Board the community had many other issues that needed to come first.
Mr. Tom Smith, of 5233 Green Drive, Lake Ashton II COD, suggested to stop the purchase and ask the developer to consider opening the golf course to the public to generate more income and let the community see if there was enough profitability to pursue the golf course acquisition down the road.
Mr. Terry Edmunds, of 5221 Pebble Beach Blvd., Lake Ashton II COD, expressed support for acquiring the golf course and the golfers funded it, not the COD Boards and reminded everyone how much property values decreased when golf courses closed.
Mr. John Velebir, of 5205 Green Drive, Lake Ashton II COD, asked the Board to seriously reconsider moving forward with the acquisition of the golf course at this time if Lake Ashton II COD would have to bear the entire costs.
Dr. Manuel Fachado, Jr., of 5433 Hogan Lane, Lake Ashton II COD, expressed fears that assessments would go up several thousand dollars now that Lake Ashton COD had backed out of the golf course acquisition if Lake Ashton II COD still moved forward.
Mr. Mike Burke, of 5196 Pebble Beach Blvd., Lake Ashton II COD, explained that while it was unfair that Lake Ashton COD wasn't still interested in sharing the costs in the golf course acquisition, it would be worse to have their property values go down if Lake Ashton II COD didn't continue to pursue the acquisition.
Mr. Robert Brooks, of 5417 Hogan Lane, Lake Ashton II COD, brought forward a petition of residents opposed to buying the golf course at this time.
Mr. Mark Mills, of 5440 Hogan Lane, Lake Ashton II COD, asked if realtors were informing prospective new homeowners about the golf course acquisition, being that it might be a significant impact on the home values within the community regardless of which way things went, and also mentioned concern that there were many areas where the roads and bridges needed to be fixed.

 	 	

August 9, 2019	Lake Ashton II COD

Mr. David Fox, of 1389 Oakmont Drive, Lake Ashton II COD, gave statistics on golf course closings over the past ten years and suggested rezoning select fairways to allow more condominiums or homes to be built, possibly relocating the driving range and other holes, and sell bonds to help with the purchase of the golf courses and properties.
Ms. Rose Crognale, of 5272 Green Drive, Lake Ashton II COD, thanked the Board for all of their hard work, and voiced concerns with moving forward with the acquisition if both parties were not going to move forward, and encouraged the Board to allow the community to vote on whether or not to move forward.
Ms. Barbara Langston, of 4032 Phoenician Way, Lake Ashton II COD, expressed disappointed that the community was now divided between the two CDDs and encouraged the Board to move forward with the acquisition.
Mr. David Schultz, of 5472 Hogan Lane, Lake Ashton II COD, explained why it was not a good time to buy the golf course, especially after Lake Ashton COD backed out, and encouraged the Board to let the community vote on whether or not to move forward.
Mr. Douglas Lake, of 5501 Hogan Lane, Lake Ashton II COD, expressed concerns with moving forward with purchasing the golf course until everyone was in agreement from both Lake Ashton COD and Lake Ashton II COD.
Mr. James Williams, of 5272 Pebble Beach Boulevard, Lake Ashton II COD, indicated the value of the land was to everyone in Lake Ashton and it needed to be protected, and asked how Lake Ashton COD could pull out of the interlocal agreement when they had already agreed to move forward.
Mr. David Landskron, of 5132 Winged Foot Lane, Lake Ashton II COD, reminded the Board Lake Ashton was supposed to be one community, encouraged allowing the community to vote, and neither COD should move forward on its own.
Mr. Richard Sutherland, of 5256 Pebble Beach Boulevard, Lake Ashton II COD, explained the amenities were what attracted so many residents to purchase within the community, and if the golf courses closed, their property values would go down, so they needed to still think about moving forward with the acquisition.

Ms. Angie Littlewood, of 5529 Hogan Lane, Lake Ashton II COD, asked how the Board planned to increase membership of golfers, who would manage the golf course if

August 9, 2019	Lake Ashton II COD

a management company wasn't hired, and how the golf course would be financed if assessments or liens were not put on the properties.
Mr. Zelazny explained that any correspondence sent out was to let everyone know that the deal with Lake Ashton COD to purchase the golf course was no longer being pursued and today's meeting was to tell the residents what impact it might have since the Board was trying not to increase assessments and costs to the residents.
Mr. Zelazny moved for the Board to authorize an appointed representative Supervisor and District staff to meet with the golf course owner to find out alternative options for moving forward with the purchase of the golf course at this time and the motion was seconded by Mr. Mecsics.

Mr. Williams expressed positive feelings for acquiring the golf course at some point, but after listening to the residents who spoke, indicated there was no reason to rush things while the developer was still building within the community for the next few years.
Mr. Zelazny reminded everyone that their home values would go down if they lost the golf courses and it would be only around one dollar each day at most if there was any increase in costs.

Mr. Williams indicated all of that was unknown and more research needed to be done before making assumptions.
On VOICE VOTE with Mr. Zelazny, Mr. Mecsics, Mr. Robertson, and Ms. Wright voting aye and Mr. Williams voting nay, the prior motion passed 4-1.

Mr. Robertson asked the Board to select a Board member to be the representative to work with District staff to meet with the golf course owner.
Mr. Zelazny volunteered.
Ms. Wright explained that since Mr. Mecsics and Mr. Robertson had been involved with negotiations from the beginning it didn't make sense to change representatives.
On MOTION by Mr. Zelazny seconded by Mr. Williams with all in favor Mr. Mecsics was designated as the  District's authorized Supervisor under the prior motion.

August 9, 2019	Lake Ashton II COD

FIFTH ORDER OF BUSINESS	Review  of Curbline  Inventory and
Pavement Condition Report
Mr. Rayl briefly went over the curbline inventory and pavement condition report, and provided an update on the curbs, inlets, and roads throughout the community.
After a brief discussion, the Board appointed the Chairman to work with the District Engineer to identify a priority list and plan for the road repairs.
On MOTION by Mr. Mecsics seconded by Mr. Zelazny with all in favor the Chairman was appointed to work with the District Engineer to identify a priority list and plan for the road repairs.

SIXTH ORDER OF BUSINESS	Review of Revised Amenity Rates
Ms. Burns explained that the revised amenity rates were provided in the agenda package so the Board could review the updated information prior to the public hearing, which was scheduled to be held on August 22nd .
SEVENTH ORDER OF BUSINESS	Discussion	Regarding	Amenity
Policies	(requested by Supervisor Zelazny)
Mr. Zelazny explained the two Districts were working together on the amenities policies and briefly went over several changes that had been made since the last meeting.
EIGHTH ORDER OF BUSINESS	Discussion of End of Fiscal Year
Spending (requested by Supervisor Zelazny)
Mr. Zelazny briefly discussed projects that he would like to see accomplished, which were the blinds for the HFC; not-to-exceed the amount of $8,000 and pavers for the sidewalk project and pickleball parking; not-to-exceed the amount of $12,000 since both also had contributions from residents and clubs to offset costs of each project.
Ms.  Wright indicated those projects were still works-in-progress and final figures	

were not available yet.

On MOTION by Mr. Zelazny seconded by Mr. Mecsics with all in favor the Board authorized moving forward with getting blinds for the HFC not-to-exceed the amount of $8,000, and the pavers for the sidewalk and pickleball parking not-to­ exceed the amount of $12,000, subject to approximately
$3,750 to be donated by the pickleball clubs to help offset the costs of the paver project.

 	

August 9, 2019	Lake Ashton II COD

NINTH ORDER OF BUSINESS	Discussion	of   Supervisor  Roles
and Responsibilities (requested by Supervisor Zelazny)
Mr. Zelazny reminded the Board of how each Board member used to have specific roles as points-of-contact for residents and District staff to work with.
After a brief discussion, the Board designated the following: 1) HFC and surrounding amenities: Mr. Robertson, 2) security: Mr. Mecsics, 3) road work: Mr. Williams, 4) landscaping/ greenspace/ ponds: Mr. Zelazny, and 5) budget: Ms. Wright.
TENTH ORDER OF BUSINESS	Discussion	Regarding	Use	of
District Media and Authored Posts
(requested by Supervisor Williams)
Mr. Williams briefly reemphasized the importance of including authors of published media on behalf of the COD so Board members knew who to direct inquiries to when another Board member received them.
Mr. Robertson indicated coordination through the Community Director and District Manager also should be part of procedure.
Ms. Burns agreed the Board should refer resident questions to District staff rather than handle and address certain issues.
ELEVENTH ORDER OF BUSINESS	Supervisors  Requests/	Audience
Comments
Mr. Robertson asked for any Supervisors requests.
Mr. Zelazny asked to relocate two trees that were encroaching a resident's home to the pet parks.
Mr. Rayl responded there were permitting requirements that needed to be addressed before doing that.
Mr. Zelazny asked for an update regarding recent security issues.
Mr. Mecsics responded a camera was installed and he was working with Ms.
Bosman and the police on them.

Mr. Eckert cautioned discussing security systems, cameras and locations and recommended not discussing these items on the record.
Mr. Robertson asked for any public comments. There not being any, the next item followed.

August 9, 2019	Lake Ashton II COD

TWELFTH ORDER OF BUSINESS	Adjournment
There not being any further business, Mr. Robertson asked for a motion to adjourn the meeting.
On MOTION by Ms. Wright seconded by Mr. Mecsics with all in favor the meeting was adjourned.

Assistant Secretary/Secretary	Chairman/ Vice Chairman

DRAFT – FOR DISCUSSION PURPOSES ONLY

CONTRACT FOR SALE AND PURCHASE

(Lake Ashton Golf Club)

THIS CONTRACT FOR SALE AND PURCHASE (this “Contract”), is entered into as of
 	, 2019 by and between Lake Ashton Golf Club, Ltd., a Florida limited partnership, Lake Ashton Golf Club II, Ltd., a Florida limited partnership, and Ashton Golf- Eagle’s Nest, LLC, a Florida limited liability company (individually or collectively as required by context, “Seller”), and the Lake Ashton II Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes (“Buyer”).

Recitals
Seller is, collectively, the owner in fee simple of the Golf Club (as hereinafter defined). Seller desires to sell, and Buyer desires to purchase, Seller’s interest in the Golf Club,
subject to all of the terms and conditions of this Contract.

Agreement

For good and valuable consideration, the receipt and sufficiency of which are acknowledged by Seller and Buyer, and in consideration of the above recitals and the mutual covenants set forth in this Contract, the parties hereto agree as follows:

Incorporation of Recitals; Certain Definitions

Each of the Recitals set forth above are hereby incorporated herein by this reference. Initially capitalized terms not otherwise defined herein shall have the respective meanings ascribed thereto in Exhibit “1” attached to this Contract and hereby incorporated herein by this reference.

Sale and Purchase

Agreement to Sell and Purchase. Seller, to the extent of their respective interests, agrees to sell, convey, and assign to Buyer, without recourse and without representation or warranty except as expressly set forth herein, and Buyer agrees to purchase and accept from Seller, for the Purchase Price (as hereinafter defined) on and subject to the terms and conditions set forth in this Contract, the Golf Club.

Purchase at Closing. It is the intention of the parties hereto that the Golf Club shall be sold by Seller and purchased by Buyer at the closing or closings to be held hereunder as more provided by Section 5 below, pursuant to and in accordance with the terms and provisions of this Contract.

Future Conveyance. Buyer shall have the option to purchase all of the Golf Club at the Bulk Closing or defer purchase of those portions of the Golf Club located within Lake Ashton I for a period of five years, in accordance with the terms set forth in Section 36, below.

Purchase Price

Purchase Price of Golf Club. The purchase price (“Purchase Price”) to be paid by Buyer to Seller for the Golf Club within Lake Ashton II is Four Hundred Seventy-Seven Thousand Dollars ($477,000) subject to adjustment and credits as provided herein. The Real Property which is a part of the Golf Club to be conveyed by Seller hereunder will be conveyed subject to real estate taxes and assessments for the year in which any applicable closing hereunder occurs, but which are not yet due and payable (“Taxes and Assessments”) subject, however, to the proration provisions of Section 28 hereof.

Assumption of Equipment Leases. As additional consideration for the sale of the Golf Club, Buyer will assume all obligations of Seller under the Equipment Leases, if any, to the extent any remain at the time of either the Bulk Closing or the Initial Closing, as the case may be.

Payment of Purchase Price. Subject to the provisions of Section 36 below, The Purchase Price shall be payable as follows: an unsecured promissory note in the form attached hereto as Exhibit 3.3 from Buyer in the original principal amount of the Purchase Price (subject to adjustments and prorations as provided herein), less the Earnest Money (hereinafter defined), less the Subsidized Golf Memberships Contribution (hereinafter defined), and plus the Debt Service Payoff (hereinafter defined) (the “Note”). The Note shall be payable in five (5) equal annual principal installments plus simple interest accruing on the outstanding balance at a rate of three percent (3%) per annum, the first installment of which shall be due on the first day of the month following the date which is one year after Closing (the “Note Payment Date”) and each subsequent annual installment shall be due on the anniversary of the Note Payment Date until the Note is paid in full. Buyer shall have the right to prepay all or a portion of the then outstanding balance of the Note at any time without penalty.

Earnest Money. On or before three (3) Business Days following the Effective Date, Buyer shall deliver to Clark, Campbell, Lancaster & Munson, P.A. (the “Escrow Agent”) the sum of Twenty-Seven Thousand Dollars ($27,000) (the “Earnest Money”) to be held in escrow in accordance with the terms hereof. Escrow Agent shall deposit the Earnest Money in a non-interest-bearing account. Except as otherwise expressly set forth in this Contract, the Earnest Money shall be non-refundable to Buyer; provided, however, that the entirety of the Earnest Money shall be applied towards payment of the Purchase Price in the event of either the Bulk Closing, or the Initial Closing pursuant to and in accordance with the terms hereof.

Documents Delivered to or Obtained by Buyer; Inspection Period

Delivery of Due Diligence Materials. Buyer expressly acknowledges and agrees that: a) Seller has previously delivered to Buyer those documents listed in Exhibit
4.1 attached hereto and incorporated herein (collectively, the “Due Diligence Materials”) that are in Seller’s possession or reasonable control; b) Seller has no further obligation to deliver any of the Due Diligence Materials to Buyer or to update any of the Due Diligence

Materials, except that Seller shall provide Buyer with updated membership lists within five
(5) Business Days after receipt of written notice therefor; and c) Buyer shall not have any right to terminate this Contract for any reason related to the Due Diligence Materials.

Limited Inspection Period.

Limited Inspection Period. The “Limited Inspection Period” shall commence on the Effective Date and end on November 15, 2019.

Beginning on the Effective Date and continuing through the Closing Date or until the date this Contract may be terminated, Buyer shall have the opportunity to review the Due Diligence Materials, to enter upon the Golf Club, to obtain all estoppels, to communicate with the staff of all permitting agencies, to communicate with agents of the Seller and any private consultants that prepared third party reports regarding the Golf Club at Buyer’s sole cost and expense, and to perform such other reviews, investigations and inquiries as it deems appropriate in order to determine that the Golf Club is acceptable to Buyer in its sole discretion (collectively, the “Due Diligence”); provided, however, that Buyer shall coordinate all Due Diligence with Seller to minimize any disruption to Seller’s existing business and Buyer shall not (i) make any intrusive physical testing (environmental, structural or otherwise) at the Golf Club (such as soil borings, water samplings or the like), except for a phase I environmental site assessment that may be ordered by the Buyer at their sole cost and expense, (ii) enter into any of the buildings without coordinating with the Seller Representative to enable, at Seller’s discretion, the Seller Representative to accompany the Buyer, or (iii) interfere with the operations of the Golf Course. Buyer shall promptly repair any damage to the Golf Club resulting from any physical testing that may be done with Seller’s permission and replace, refill and regrade any holes made in or excavations of any portion of the Golf Club used for such physical testing so that the Golf Club shall be in substantially the same condition that existed prior to such physical testing. Buyer and/or its agents or contractors who enter the Real Property, at Buyer’s (or its agent’s or contractor’s) expense, shall maintain or cause to be maintained the insurance coverages set forth in Section 4.5 below and deliver a copy of a certificate evidencing such insurance to Seller prior to Buyer’s first entry on the Real Property for the purpose of intrusive physical testing.

Termination.

[Intentionally Deleted].

Termination During Limited Inspection Period. Buyer shall have the limited right to terminate this Contract as more particularly provided in this Section 4.3.2. If during the Limited Inspection Period,

Buyer, in Buyer’s sole discretion, is dissatisfied with any aspect of the Limited Due Diligence, Buyer shall either (i) accept Golf Club in its “as-is” condition as provided herein, or (ii) elect to terminate this Contract. Should Buyer fail to deliver the Buyer’s Acceptance Notice to Seller within the required time frame, Buyer shall be deemed to have elected to terminate this Contract. If the Contract is terminated pursuant to this Section 4.3.2, the Earnest Money shall be promptly returned to Buyer and neither party shall have any further liability or obligation hereunder (except for any indemnification and other obligations that may survive any termination hereunder). Should Buyer not terminate this Contract as provided by this Section 4.3.2, then all of the following shall apply: (i) Buyer shall no longer have any right to terminate this Contract (except as permitted by Sections 6.2, 11.1, or 27 hereof); (ii) if not otherwise terminated as permitted by the terms of this Contract, Buyer shall be bound to proceed to closing under and subject to the terms hereof; and (iii) Buyer shall be bound by all of its obligations under this Contract, each of which shall apply without condition or contingency (except as otherwise expressly provided herein). Notwithstanding anything contained herein to the contrary, Buyer shall have no right to terminate this Contract pursuant to this Section 4 after the expiration of the Limited Inspection Period.

Buyer acknowledges and agrees that, if Buyer does not give written notice of Buyer’s termination at or before the expiration of the Limited Inspection Period, Buyer shall be deemed to have (i) had sufficient opportunity and access to the Due Diligence Materials and to the Golf Club in order to conduct its Due Diligence, (ii) conducted such due diligence activities, inspections, and studies of the Golf Club as it deems necessary or appropriate, and (iii) examined and investigated to its full satisfaction all facts, circumstances, and matters relating to the Golf Club (including the physical condition and use, availability and adequacy of utilities, access, zoning, compliance with applicable laws, environmental conditions, engineering and structural matters of the Golf Club), title and survey matters, and any other matters it deems necessary or appropriate for purposes of consummating the transactions contemplated by this Contract. The Due Diligence shall be conducted at Buyer’s sole cost and expense, including, without limitation, any copying or digitizing of the Due Diligence Materials.

Indemnification by Buyer. Subject to and without waiving the limitations contained in section 768.28, Florida Statutes, and other applicable laws, Buyer shall defend, indemnify, and hold harmless Seller from and against all losses, costs, damages, claims, and liabilities including, but not limited to mechanic’s and materialmen’s liens and reasonable attorneys’ fees, resulting from the entry by Buyer or any agent of Buyer upon the Golf Club, unless any of the same are caused by the negligence of Seller or constitute pre-existing conditions. The provisions of this Section 4.4 shall survive the Closings or, if the purchase and sale is not consummated, any termination of this Contract.

Insurance. Prior to entering onto the Golf Club for intrusive physical testing, Buyer, or Buyer’s agent or contractor, at its sole cost and expense, shall obtain and maintain in effect the following insurance coverages: (a) a policy of commercial general liability insurance (including personal injury liability coverage) covering Buyer’s inspection of the Real Property pursuant to this Contract, with a single limit of liability for bodily injury and property damage of not less than $1,000,000.00 per occurrence and
$2,000,000.00 in the aggregate; and (b) deliver to Seller a certificate of insurance, evidencing that such insurance is in force and effect, and evidencing that Seller has been named as an additional insured thereunder with respect to any activities by Buyer, its agents or contractors during such entry onto the Golf Club. Such insurance shall be maintained in force until the termination of this Contract.

Closing

Closing Date. Subject to the provisions of Section 36 below, the closing of the transaction contemplated hereby shall occur at the offices of the Title Agent or, alternatively at either party’s election, by delivery of documents and funds in escrow with the Title Agent accompanied by closing instructions fifteen (15) days following the conclusion of the Limited Inspection Period (“Closing Date”). Provided however, the parties may agree to close on such earlier date as may be agreed upon in writing between Seller and Buyer. As more particularly provided by the provisions of Section 36 below: a) Buyer and Buyer’s designee, collectively, may elect to acquire the entirety of the Golf Course (a “Bulk Closing”); or b) Buyer may initially elect to acquire that portion of the Golf Club located within the boundaries of the Lake Ashton II CDD and defer the acquisition of the remaining portion of the Golf Club until the time provided in said Section 36 below (such event being referred to herein as a “Split Closing”). In the event of a Split Closing, the acquisition of the portion of the Golf Club located within the boundaries of the Lake Ashton II CDD shall occur at the “Initial Closing” to be held on the Closing Date and the acquisition of the remaining portion of the Golf Club shall occur at the “Deferred Closing” to be held on the “Deferred Closing Date” (which date shall be as provided by Section 36 below). For purposes of this contract, the Bulk Closing, Split Closing, Initial Closing, and Deferred Closing, are sometimes individually referred to as a “Closing” or collectively referred to as the “Closings”. Notwithstanding anything contained herein to the contrary, in any event the Bulk Closing or the Initial Closing, as applicable, shall occur no later than December 13, 2019.

Seller Deliveries. Seller shall deliver or cause to be delivered at the Bulk Closing or any instance of a Split Closing, as appropriate, to Buyer or to Title Agent in escrow for delivery to Buyer, all of the following:

At either the Bulk Closing or the Initial Closing, as appropriate, a special warranty deed from Seller conveying the Lake Ashton II Real Property described on Exhibit 3.1-B to Buyer, which shall be sufficient to transfer and convey to Buyer fee title to the Lake Ashton II Real Property pursuant to the terms and provisions of this Contract, substantially in the form attached hereto as Exhibit 5.2.1 (“Deed”);

In the event that Buyer so directs, at the Bulk Closing or the Deferred Closing, a special warranty deed from Seller conveying the Lake Ashton I Real Property described on Exhibit 3.1-A to such party as Buyer may in writing direct, which shall be sufficient to transfer and convey to Buyer’s designee fee title to the Lake Ashton I Real Property pursuant to the terms and provisions of this Contract, substantially in the form attached hereto as Exhibit 5.2.1 (“Lake Ashton I Deed”);

At the Bulk Closing or the Initial Closing, as the case may be, a Bill of Sale, Assignment and Assumption, substantially in the form attached hereto as Exhibit 5.2.2 (“Bill of Sale”);

At the Bulk Closing or the Initial Closing, an assignment and assumption from Seller of the Seller’s interest in the Equipment Leases in effect at the applicable closing, and to the extent still outstanding, substantially in the form attached hereto as Exhibit 5.2.3 (“Lease Assignment”);

An assignment and assumption of development rights and impact fee credits, if any, relating to the portion of the Golf Club acquired at the applicable closing, substantially in the form attached hereto as Exhibit 5.2.4.

An Assignment of Declaration Rights relating to the portion of the Golf Club acquired at the applicable closing, executed by Seller transferring the Restrictive Covenant Rights substantially in the form attached hereto as Exhibit 5.2.5.

At the Bulk Closing or the Initial Closing, a counterpart of the Deficit Funding Agreement as more particularly provided by Section 13.

At the applicable closing where the Lake Ashton I Real Property is conveyed by Seller, a counterpart of the Storage and Maintenance Area Lease as more particularly provided by Section 31.

At any closing, a FIRPTA affidavit of an authorized officer of Seller;

At any closing, a closing statement prepared by the Title Agent (the “Closing Statement”) relating to the portion of the Golf Club acquired at the applicable closing;

At any closing, evidence reasonably satisfactory to the Title Company that the person executing any documents at the Closing on behalf of Seller has full right, power, and authority to do so.

At any closing, a gap, no lien and exclusive possession affidavit, in a form as may be reasonably required by the Title Agent or Title Company in order to satisfy the Schedule B-Section I requirements set forth in the Title Commitment (as hereinafter defined), delete the “standard exceptions” of Schedule B-Section II of the Title Commitment (other than the survey related exceptions), and otherwise issue the Title Policy (as hereinafter defined) relating to the portion of the Golf Club acquired at the applicable closing.

At any closing, an estoppel letter (or an update thereto if any letter has previously been obtained by Buyer in the course of its due diligence activities) from the applicable Association regarding the status of any assessment payment due on the portion of the Real Property to be acquired at the applicable closing including the amount of the regular assessments of the Association and the date on which such assessments are next coming due.

At the Closing Date or the Deferred Closing Date, as the case may be, the Golf Membership Assignment (as referenced in Section
8.2.4 of this Contract) substantially in the form attached hereto as Exhibit 5.2.13.

At any closing, a certificate that the representations and warranties of Seller in this Contract relating to the portion of the Golf Club acquired at the applicable closing are true and correct as of the date of the applicable closing, substantially in the form attached hereto as Exhibit 5.2.14, with modifications to such form as Seller deems appropriate to reflect any information of which Seller gains knowledge subsequent to the Effective Date; provided, however, that in the event of any material modifications to the certificate of representations and warranties, as determined by Buyer, in its sole and absolute discretion, Buyer shall have the right to (i) terminate this Contract and receive the return of the Earnest Money, to the extent not previously applied to the Purchase Price, or (ii) proceed with the applicable closing, in either case without claim against or liability of Seller from such change to the representations and warranties.

At any closing, any other documents or instruments reasonably required by Buyer or the Title Company to consummate the transactions contemplated by this Agreement relating to the portion of the Golf Club acquired at the applicable closing.

5.12.17	At any closing, that portion of the prorated, prepaid golf membership fees due to Buyer as specified in the Operating Coordination Agreement.

Buyer Deliveries. Buyer shall deliver or cause to be delivered to Seller, or to Title Agent for delivery to Seller, all of the following:

The funds to close;

Evidence reasonably satisfactory to Seller and the Title Company that the person executing any documents at the applicable closing on behalf of Buyer has full right, power, and authority to do so;

Counterparts of the documents listed in Sections 5.2.2 through 5.2.4, inclusive, 5.2.6, 5.2.7, 5.2.9, and 5.2.13 above, as appropriate for the applicable closing;

At any Closing, an estoppel letter from either Lake Ashton I or Lake Ashton II, as applicable, regarding the status of any assessment payments due on the Real Property to be conveyed at such closing including the amount of the regular assessments of such district and the date on which such assessments are next coming due; and

At any closing, any other documents or instruments reasonably required by Seller or the Title Company to consummate the transactions contemplated by this Agreement.

Possession. At the conclusion of the Bulk Closing or any instance of a Split Closing, possession of the portion of the Golf Club, acquired at such closing, shall be delivered to Buyer subject to the Permitted Exceptions.

Termination, Default, and Remedies

Seller’s Remedies. If Buyer fails or refuses to consummate the purchase of the Golf Club pursuant to this Contract at the Bulk Closing or the Initial Closing in the event of a Split Closing, as the case may be, except as otherwise permitted herein, or is otherwise in breach or default of any other obligations to be performed by Buyer under this Contract at or prior to any closing hereunder, Seller’s sole and exclusive remedy shall be to retain the Earnest Money, to the extent not previously applied toward the Purchase Price, as full, fixed and liquidated damages, not as a penalty, the parties hereby acknowledging the difficulty of ascertaining Seller’s damages in such a circumstance and agreeing that this remedy represents a reasonable and mutual attempt by Seller and Buyer to anticipate the consequence to Seller of such breach by Buyer whereupon this Contract shall terminate, and Buyer and Seller shall be relieved of further liability hereunder, at law or in equity, it being the agreement of the parties that upon termination of this Contract, Buyer shall have no other liability or obligation for default hereunder, except for such indemnification and other obligations as may, under the terms hereof, expressly survive termination of this Contract. Notwithstanding the foregoing to the contrary, in the event of a Buyer breach of any obligation under this Contract to indemnify Seller, the Seller shall have the right to sue for damages.

Buyer’s Remedies. If Seller fails or refuses to consummate the sale of the Golf Club pursuant to this Contract at the Bulk Closing or any instance of a Split Closing, as the case may be, or fails to perform any of Seller’s other obligations under this Contract either prior to or at any closing as provided hereunder for any reason other than (i) the

termination of this Contract, or (ii) Buyer’s failure to perform Buyer’s obligations under this Contract, on or prior to the Closing Date or the Deferred Closing Date, as the case may be, then Buyer shall have the right, as its sole and exclusive remedies, to (x) terminate this Contract by giving written notice of the termination to Seller prior to or at the Bulk Closing or the Initial Closing, as the case may be, whereupon the Earnest Money shall be delivered to Buyer, free of any claims by Seller; or (y) seek specific performance of Seller’s obligations under this Contract. After termination of this Contract and payment of such sums as may be due and owing Buyer by Seller as provided by this Section 6.2, Buyer and Seller shall be relieved of further liability hereunder (except to the extent indemnification and other obligations of Buyer and Seller survive termination), at law or in equity.

Escrow Agent Liability; Escrow Dispute. Seller and Buyer hereby agree to hold Escrow Agent harmless for any loss of escrowed funds, including the Earnest Money; provided, however, that nothing herein shall release Escrow Agent from liability for its fraud, willful misconduct or gross negligence. This Contract shall serve as escrow instructions and an executed copy of this Contract shall be deposited with Escrow Agent. In the event of a termination of this Contract or a default under this Contract, the Earnest Money shall be delivered or disbursed by the Escrow Agent as provided herein. If a dispute arises with regard to the disbursement of the Earnest Money, the Escrow Agent shall not be required to determine to whom the Earnest Money should be disbursed or to take any action in connection therewith. Rather, the Escrow Agent may await settlement of the controversy or place the Earnest Money into the Registry of the Circuit Court of Polk County, Florida, in an interpleader action or otherwise for the purpose of having the respective rights of the parties adjudicated, and its reasonable attorneys’ fees and costs incurred in doing so shall be paid from the Earnest Money, and assessed as a cost and charge by the Court against the party which the Court determines is not entitled to the Earnest Money. Upon institution of such interpleader action or other appropriate action, the Escrow Agent shall be fully relieved and discharged from all further obligations hereunder with respect to the sums so deposited. Seller and Buyer agree that the status of Seller's counsel as Escrow Agent under this Contract does not disqualify said counsel from representing Seller in connection with this transaction and in any disputes that may arise between Seller and Buyer, or any other party, concerning this transaction, including any dispute or controversy with respect to the Earnest Money.

Representations and Warranties. If at any time after the Effective Date and prior to Closing or the Deferred Closing Date, as applicable, either Buyer or Seller becomes aware of information which makes a representation or warranty contained in this Contract untrue in any material respect, said party shall promptly disclose said information in writing to the other party hereto. Provided that the party making the representation or warranty has taken no act to cause the representation or warranty to become untrue, said party shall not be in default under this Contract.

Seller’s Representations, and Covenants

Representations. Seller, severally, represents and warrants to Buyer that as of the Effective Date and as of the Closing Date and again on the Deferred Closing Date, to the extent applicable:

Seller has the right, power, legal capacity, and authority to execute and deliver this Contract and to consummate the transactions contemplated by this Contract.

The individual or individuals executing this Contract and any and all documents contemplated hereby on behalf of Seller has or have the legal power, right, and actual authority to bind Seller to the terms and conditions contained in this Contract and in such documents.

Consistent with Section 12 below, Seller has not dealt with any broker, investment banker, agent or other person who may be entitled to any commission or compensation in connection with the sale of the Golf Club or any portion thereof.

Seller is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization.

Seller’s execution, delivery and performance of this Contract do not and will not violate its organizational documents, applicable law or any agreement or instrument by which it or any material portion of its assets are bound (including any rights of first refusal, rights of first offer, options or similar transfer agreements) or require any notice to, registration or filing with, consent or approval of or other action by any person.

Seller has duly executed and delivered this Contract, which constitutes its legal, valid and binding obligation, enforceable against it in accordance with the terms hereof, except as enforcement may be limited by bankruptcy and other laws and equitable principles affecting the enforcement of creditor’s rights generally.

Seller is not an employee benefit plan and is not selling the Golf Club on behalf of any benefit plan.

To Seller’s knowledge, no Actions (as hereinafter defined) or other proceedings are pending against Seller or the Real Property before any governmental authority, arbitration or other tribunal that in the aggregate would reasonably be expected to materially and adversely affect the Golf Club, this Contract or Seller’s ability to perform its obligations hereunder.

To Seller’s knowledge, Seller has not received any written notice of any threatened or pending condemnation proceeding or other proceeding in eminent domain.

Seller is not a party to any collective bargaining agreement with any labor union with respect to the Golf Club.

Seller is a “United States person” (as defined in Section 7701(a)(30)(B) or (C) of the Code) for the purposes of the provisions of Section 1445(a) of the Code.

As of the Effective Date, there are no leases affecting or relating to any portion of the Real Property or the Improvements.

Covenants. Seller covenants with Buyer as follows:

Seller has obtained all internal written consents and approvals as may be necessary or required to permit Seller to perform its obligations under this Contract.

Except as may be required by law, contemplated by this Contract, or consented to by Buyer (such consent not to be unreasonably withheld or delayed), Seller agrees that from and after the Effective Date until the Closing Date or the Deferred Closing Date, as appropriate, and except as may be necessary, prudent or otherwise permitted pursuant to the terms of the Operating Coordination Agreement Seller shall not consent to enter into, modify or terminate any easements or other encumbrances upon the Golf Club, or leases, licenses or other agreements affecting the Golf Club.

Seller shall notify Buyer promptly upon receipt by Seller’s Representative prior to the Closing date or the Deferred Closing Date, as appropriate, of written notice of any claim, charge or complaint filed with the Court, or the institution or pendency of any action, suit, or proceeding, against or affecting the Golf Club, or relating to or arising out of the ownership of such Golf Club.

From the Effective Date until the Closing Date or the Deferred Closing Date, as appropriate, or earlier termination of this Contract, except as otherwise expressly provided in this Contract and the Operating Coordination Agreement, Seller shall cause the Golf Course to be operated and maintained in the ordinary course of business and in a manner substantially similar to that in which it is being operated and maintained as of the Effective Date, including without limitation, maintaining the Pro Shop Inventory at the level customarily maintained by Seller and further shall immediately notify Buyer of any event that could reasonably be expected to have a material adverse effect on the Golf Club.

From the Effective Date and expiring upon Closing Date or the Deferred Closing Date, as appropriate, or earlier termination of this Contract, Seller shall not accept any offers, options, contracts, agreements or the like for the sale, management, maintenance, or operation, of all or

any portion of the Golf Club; provided however, the foregoing shall not apply to the operation of the Golf Club conducted in the ordinary course of business. The Parties agree to record a Memorandum of Agreement referencing the prohibition in this section 7.2.5 and the expiration date of this Agreement at an Initial Closing.

Seller shall cause all employees of the Golf Club to be terminated as of the Closing Date and Seller acknowledges that Buyer shall have no liability with respect to such employees whatsoever. Provided however, Seller acknowledges and agrees that following the expiration of the Limited Inspection Period, Buyer, in Buyer’s sole discretion, may contact such employees and negotiate terms of potential employment between Buyer and such employees as Buyer may wish commencing from and after the Closing Date; however, all such contact must be coordinated through Seller.

Survival. Each of the representations, warranties and covenants made by Seller in this Section 7 hereof shall not merge into the Deed or other closing documents but shall survive the applicable closing for a period of ninety (90) days thereafter. On the date that is exactly ninety (90) days after such applicable closing, all such representations, warranties and covenants of Seller, including without limitation those in this Contract, shall terminate and expire and shall thereafter be of no further force or effect.

Seller’s Representative. For purposes of this Contract and any document delivered at any closing hereunder, all references to Seller’s knowledge, including, without limitation, whenever the phrase “to Seller’s actual knowledge,” or the “knowledge” of Seller or words of similar import are used, they shall be deemed to refer to facts within the actual, personal knowledge of Seller’s Representative only, and no others, only at the times indicated, without investigation or inquiry or obligation to make investigation or inquiry, and in no event shall the same include any knowledge imputed to Seller by any other person or entity.

Buyer’s Representations, and Covenants

Representations. Buyer hereby makes the following representations, warranties and agreements which shall have been deemed to have been made as of the Closing Date and again on the Deferred Closing Date, to the extent applicable:

Buyer has relied and shall continue to rely solely on its own investigation and, other than Seller’s express representations and warranties set forth in Section 7 and Section 32 of this Contract and the documents delivered at any of the Closings, Buyer has not relied and shall not rely upon any oral or written statements or representations made by Seller or its personnel or agents and acknowledges that no employee or representative of Seller has been authorized to make any statements or representations.

Buyer acknowledges that all information obtained by Buyer has been and will be obtained from a variety of sources and Seller will not be deemed to have represented or warranted the completeness, truth or accuracy of any of the Due Diligence Materials or other such information heretofore or hereafter furnished to Buyer, except as expressly set forth herein.

Consistent with Section 12 below, Buyer has not dealt with any broker, investment banker, agent or other person who may be entitled to any commission or compensation in connection with the sale of the Golf Club or any portion thereof.

Buyer represents that it has full power and authority and has taken all action necessary to authorize it to enter into and perform its obligations under this Contract and all other documents or instruments contemplated hereby. Buyer represents and warrants that this Contract has been duly authorized, executed and delivered by Buyer. This Contract constitutes the legal, valid and binding obligation of Buyer, enforceable in accordance with its terms. Buyer represents and warrants that the execution, delivery and performance of this Contract by Buyer does not conflict with the organizational documents of Buyer, or with any law, statute or regulation applicable to Buyer, or any mortgage, indenture or other contract or agreement to which Buyer is a party.

Covenants of Buyer.

[Intentionally Deleted]

Employees. Buyer acknowledges that the employees at the Golf Course will remain the employees of Seller until they are terminated at the Bulk Closing or Initial Closing, as the case may be, and that Buyer has no right to cause the termination of such employees prior thereto. In no event shall Buyer take any action as to such employees of Seller that would create or cause any liability to Seller.

Restaurant and Liquor License. Buyer acknowledges that there may be various restaurant and liquor licenses associated with the operation of the Golf Course that are in the name of the Seller. Buyer and Seller shall mutually and reasonably cooperate with one another to file any application with the required state and local agencies for the issuance or transfer of such licenses as are necessary for the continued operation of dining and beverage facilities at the Golf Course following the Closing Date, all at Buyer’s sole cost and expense; provided, however, the issuance of such replacement restaurant and liquor licenses shall not be a condition to Buyer’s obligations to close the sale contemplated hereby. Subject to and without waiving the limitations contained in Section 768.28, Florida Statutes, and other applicable laws, Buyer shall defend, indemnify, and hold

harmless Seller from and against all losses, costs, damages, claims, and liabilities resulting from Buyer’s operation of dining and beverage facilities prior to the issuance of replacement restaurant and liquor licenses, and further, prior to commencement of dining and beverage services, Buyer shall obtain, maintain, and keep in full force and effect, dram shop insurance with policy limits in the amount of One Million and No/100ths Dollars ($1,000,000) which policy of insurance shall name Seller as an additional insured thereunder.

Golf Memberships. Seller will assign to Buyer certain or all of the Golf Memberships at the Initial Closing Date, the Bulk Closing Date or the Deferred Closing Date, as agreed to by the Parties through an amendment to this Agreement negotiated after the Operating Coordination Agreement is negotiated but before the end of the Limited Due Diligence Period. After such assignment Buyer shall assume and honor, all golf memberships in effect on the Closing Date (“Golf Membership Assignment”). Subject to the provisions of Section 10, Buyer specifically agrees to assume and honor any free or reduced rate golf memberships which Seller, or any affiliate of Seller, may issue or may have issued prior to the Closing Date; provided however, Seller acknowledges and agrees that Buyer shall not be obligated to honor any such golf memberships for any period which longer than one (1) year after the Closing Date at which the specific Golf Membership was assigned.

Survival of Representations, Warranties and Covenants of Buyer. Each of the representations, warranties and covenants made by Buyer in this Contract shall not merge into any Deed or other closing documents but shall survive any applicable closing for a period of ninety (90) days thereafter. Provided however, and notwithstanding the foregoing, Buyer’s indemnity and insurance obligations of Section 8.2.3 shall continue for so long as Buyer may be operating under any license held by Seller.

No Recording or Filing

Neither this Contract nor a memorandum thereof shall be filed or recorded by Seller or
Buyer.

Post-Closing Golf Memberships

Generally. Following the Closing Date, or the Deferred Closing Date, as applicable, Seller will be entitled to certain assignable golf memberships on the terms and conditions contained in this Section 10. The provisions of this Section 10 shall survive the Closings.

New Construction Golf Memberships. Until all lots within the boundaries of Lake Ashton I and Lake Ashton II have been improved with a residence and sold to residential end users, Buyer agrees to provide a one (1) year golf membership to each residential end user of a newly constructed home located within Lake Ashton I or

Lake Ashton II at no cost or expense to such residential end user. Seller agrees to promptly notify Buyer of the identity of any residential end users who receive golf memberships under this section. The foregoing memberships are referred to in this Section 10 as the New Construction Golf Memberships.

Resale Golf Memberships. For any home which is listed by the Seller’s affiliate, Lake Ashton Realty, LLC (“LAR”), with MLS within one hundred eighty (180) days prior to the Closing Date or the Deferred Closing Date, as applicable, Buyer agrees to either, as appropriate, (i) recognize the continuation of the golf membership applicable to the new purchaser for such home for a period not longer than one (1) year from the date of such sale, as to qualifying homes which are sold prior to the Closing Date or the Deferred Closing Date, as applicable, or (ii) provide a one (1) year golf membership to the new purchaser from the date of such sale, as to qualifying homes which are sold after the Closing Date or the Deferred Closing Date, as applicable. Seller or LAR agrees to promptly notify Buyer of the identity of any new purchasers who receive golf memberships under this section. The foregoing memberships are referred to in this Section 10 as the Resale Golf Memberships and, collectively with the New Construction Golf Membership, the Subsidized Golf Memberships.

Seller Contribution Toward Subsidized Golf Memberships. In consideration of Buyer’s agreement to grant or recognize the Subsidized Golf Memberships, as the case may be, at the Bulk Closing or the Initial Closing, as appropriate, Seller agrees to pay Buyer the sum of Two Hundred Forty Thousand and No/100ths ($240,000.00) (the “Subsidized Golf Memberships Contribution”). The Subsidized Golf Memberships Contribution shall be applied as a credit to the Purchase Price payable at the Bulk Closing or the Initial Closing, as appropriate.

Title

Title Commitment. Seller has previously caused to be issued to Buyer, at Seller’s expense, a title insurance commitment issued by the Title Company, setting forth the status of title to the Golf Club and showing all encumbrances and other matters affecting the Golf Club (as endorsed, the “Title Commitment”) and committing the Title Company to issue at Seller’s expense an ALTA owner’s policy in the amount of the Purchase Price (“Title Policy”). Simultaneously with delivery of the Title Commitment, Buyer and Buyer’s attorney were provided with copies of all documentary exceptions evidenced by the Title Commitment. During the Limited Inspection Period, Buyer may also obtain, at Buyer’s expense, a survey of the Golf Club prepared by a licensed surveyor (the “Survey”). The “Title Agent” shall be Clark, Campbell, Lancaster & Munson, P.A., as agent for the Title Company. If any matters of title reflected on the Title Commitment or Survey are objectionable to Buyer, Buyer will deliver to Title Agent no later than twenty
(20) days before the expiration of the Limited Inspection Period, a written letter describing any objectionable matters of title (“Title Objection Notice”). Should Buyer fail to timely deliver its Title Objection Notice, Buyer shall be deemed to have waived its right to make any such objections. Seller shall have no obligation to expend any moneys or incur any liability to cure such objections, and Buyer’s sole remedy in the event that Seller fails or refuses to cure any such objection shall be to terminate this Contract.  Seller shall respond

to Buyer within ten (10) days after receipt of Buyer’s described objectionable matters of title if Seller intends to cure such objections. Failure of Seller to respond within ten (10) days to Buyer’s described objectionable matters of title shall be deemed to be a refusal by Seller to cure said objections. If Buyer fails to terminate this Contract within the Limited Inspection Period, all of the title exceptions reflected in the Title Commitment or on the Survey, other than those which Seller may have elected to cure and other than monetary liens, shall be deemed Permitted Exceptions. Additionally, Buyer may object in writing as to matters which render title unmarketable that become of record after the effective date of the Title Commitment and, provided such objections are not cured by Seller before any applicable closing hereunder, Buyer may, by delivery of written notice to Seller and as its sole remedy, terminate this Contract in which case Escrow Agent shall return the Earnest Money, to the extent the same has not previously been applied to the Purchase Price, to Buyer, whereupon this Contract shall terminate and Buyer and Seller shall be relieved of further liability hereunder, except for such indemnification and other obligations as may, under the express terms hereof, survive termination of this Contract.

Marked-up Title Commitment at Closing. Buyer’s obligation to close hereunder shall be contingent upon the issuance by the Title Agent of a mark-up or endorsement of the Title Commitment (“Marked-up Commitment”) evidencing the Title Company’s removal of the Schedule B-Section I requirements as well as the “standard exceptions” of Schedule B-Section II of the Title Commitment (provided that as to any survey related standard exceptions the Buyer delivers to the Title Company the Survey in a form and substance acceptable to the Title Company). If the Marked-up Commitment discloses additional exceptions caused by Buyer, or its agents, consultants, representatives or employees, such additional exceptions shall not excuse Buyer’s obligation to close. Alternatively, Seller shall have the option to provide a pro forma Title Policy to Buyer prior to any applicable closing in lieu of the Marked-up Commitment.

Transfer of Title. At each closing occurring pursuant to the Contract, Seller, to the extent of their respective interests, shall convey good and marketable fee title to the real estate portion of Golf Club to be conveyed at such closing by providing the Deed to Buyer or, as appropriate, the Lake Ashton I Deed to Buyer’s designee, subject only to the Permitted Exceptions applicable thereto.

Brokerage Commissions. Seller acknowledges and represents that Seller has not engaged the services of any broker or other agent in connection with the sale of the Golf Club and this Contract. Buyer acknowledges and represents that Buyer has not engaged the services of any broker or other agent in connection with the purchase of the Golf Club and this Contract. Should any claim for commission be asserted or established, the party in breach of its representation in this Section 12 hereby expressly agrees to hold the other harmless with respect to all costs relating thereto (including reasonable attorneys’ fees) to the extent that the breaching party is shown to have been responsible for the creation of such claim. Anything to the contrary in this Contract notwithstanding, such agreement of each party to hold the other harmless shall survive the Closings and any termination of this Contract.

Deficit Funding of Golf Course Operations. During the Limited Inspection Period, Seller and Buyer will negotiate, in good faith and with all due diligence, the terms and conditions

of a mutually acceptable agreement pursuant to which the Seller will agree to advance funds on an as-needed basis to cover deficits in the payment of operating costs of the Golf Course after the Closing Date (the “Deficit Funding Agreement”). Seller and Buyer agree that the essential terms of the Deficit Funding Agreement will provide that: (a) the term of the Deficit Funding Agreement will be limited to a period of five (5) years following the Closing Date; (b) by August 30th of each year during the term of the Deficit Funding Agreement, Buyer will cause all then outstanding sums advanced by Seller to be repaid; (c) Seller’s deficit funding commitment (i.e., the aggregate amount which may be outstanding and unpaid) shall be limited to Three Hundred Thousand and No/100ths Dollars ($300,000.00) at any point in time; and (d) there will be a reasonable forgiveness provision at the end of the five (5) year period following the Closing Date. At no time will Buyer be required to levy special assessments to repay amounts advanced under the Deficit Funding Agreement or to pay expenses of the Golf Club so long as the annual operating expenditures  of  the  Golf  Club  do  not  exceed  $ 	[INSERT ANNUAL OPERATING EXPENSES FOR ENTIRE GOLF CLUB BASED ON CONSULTANT REPORTS
AND HISTORICAL COSTS] in any given year. So long as the annual operating expenditures do not exceed the amount in the preceding sentence, all monies used to repay amounts advanced under the Deficit Funding Agreement shall be generated by the Golf Club Notwithstanding any provision of this Contract to the contrary, in the event that Seller and Buyer have not agreed upon a form of the Deficit Funding Agreement before the expiration of the Limited Inspection Period, either party may elect to terminate this Contract by delivering written notice of such election to Seller prior to expiration of the Limited Inspection Period in which event the Earnest Money shall be promptly returned to Buyer and neither party shall have any further liability or obligation hereunder (except for any indemnification and other obligations that may survive any termination hereunder).

Notices

Any notice pursuant to this Contract shall be given in writing by (a) personal delivery, or
(b) expedited delivery service with proof of delivery, or (c) United States Mail, postage prepaid, registered or certified mail, return receipt requested, or (d) via e-mail, each of which shall be sent to the intended addressee at the address set forth below, or to such other address or to the attention of such other person as the addressee shall have designated by written notice sent in accordance herewith, and shall be deemed to have been given either at the time of personal delivery, or, in the case of expedited delivery service or mail, as of the date of first attempted delivery at the address and in the manner provided; provided however that email delivery shall be effective as of the date and time the delivering party sends the email to the proper address and does not receive an “undeliverable” notification, and only if delivery by one of the other methods is initiated on the same day as the fax or email is sent. Unless changed in accordance with the preceding sentence, the addresses for notices given pursuant to this Contract shall be as follows:

If to Buyer:	Lake	Ashton	II	Community	Development District
5385 N. Nob Hill Road Sunrise, Florida 33351 Attention: District Manager Telephone: (954) 721-8681 Email: jburns@gmscfl.com

And:	135 West Central Boulevard, Suite 320 Orlando, Florida 32801
Attention: District Manager Telephone: (407) 841-5524 Email: jburns@gmscfl.com

with a copy to:	Hopping Green & Sams, P.A.
119 South Monroe Street, Suite 300
Tallahassee, Florida 32301 Attention: Michael Eckert Telephone: (850) 222-7500 Email: MichaelE@hgslaw.com

If to Seller:	Lake Ashton Golf Club, Ltd.
Lake Ashton Golf Club II, Ltd. Ashton Golf-Eagle’s Nest, LLC
500 South Florida Avenue, Suite 700
Lakeland, Florida 33801 Attention:  Jim D. Lee Telephone: (863) 647-1581 Email: jlee@leeandcompany.com

with a copy to:	Clark, Campbell, Lancaster & Munson, P.A.
500 Florida Avenue, Suite 800
Lakeland, Florida 33801 Attention: Michael E. Workman Telephone: (863) 647-5337
E-mail: mworkman@cclmlaw.com

If to Escrow Agent:	Clark, Campbell, Lancaster & Munson, P.A.
500 Florida Avenue, Suite 800
Lakeland, Florida 33801 Attention: Michael E. Workman Telephone: (863) 647-5337
E-mail: mworkman@cclmlaw.com

Modifications

This Contract cannot be changed orally, and no executory agreement shall be effective to waive, change, modify or discharge it in whole or in part unless such executory agreement is in writing and is signed by the parties against whom enforcement of any waiver, change, modification or discharge is sought.

Assigns

This Contract shall inure to the benefit of and be binding on the parties and their respective representatives, successors, and assigns. Buyer may not assign its rights or obligations under this Contract to any party without the prior written consent of Seller, which consent may be withheld in Seller’s sole discretion.

Time of the Essence

Time is of the essence in the execution and performance of this Contract and of each of its provisions. Should any deadline under this Contract fall upon a day other than a Business Day, then such deadline shall be extended until 5:00 pm (Eastern time) on the next Business Day.

Entire Agreement

This Contract, including the Exhibits and Schedules attached hereto, and any other agreements entered into by Seller and Buyer in connection with and as contemplated by this Contract, if any, contain the entire agreement between the parties pertaining to the subject matter hereof and fully supersede all prior agreements and understandings between the parties pertaining to such subject matter.

Counterparts; Email Delivery; Effective Date of Contract

This Contract may be executed in several counterparts, and all such executed counterparts shall constitute the same agreement. The “Effective Date” shall be the date that the last of the parties executes and delivers to the other a signed counterpart of this Contract. If executed copies of this Contract are delivered between the parties via e-mail, the date of e-mail exchange shall be deemed the Effective Date of this Contract.

Severability

If any provision of this Contract is determined by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Contract shall nonetheless remain in full force and effect.

Applicable Law/Venue; Waiver of Jury Trial

THIS CONTRACT SHALL IN ALL RESPECTS BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE SUBSTANTIVE FEDERAL LAWS OF THE UNITED STATES AND THE LAWS OF THE STATE. BUYER HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT SITTING IN THE STATE IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS CONTRACT AND HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN A STATE OR FEDERAL COURT SITTING IN THE STATE. NOTHING CONTAINED IN THIS SECTION 21 SHALL AFFECT THE RIGHT OF SELLER TO BRING ANY ACTION OR PROCEEDING AGAINST BUYER OR ITS PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION. BUYER AND SELLER AGREE THAT THE PROVISIONS OF THIS

SECTION 21 SHALL SURVIVE THE CLOSING OF THE TRANSACTION CONTEMPLATED BY THIS CONTRACT. NOTHING CONTAINED IN THIS SECTION SHALL BE INTERPRETED TO PROVIDE ANY GREATER RIGHTS OR ADDITIONAL CLAIMS TO BUYER THAN AS OTHERWISE PROVIDED IN THIS CONTRACT.

To the extent allowed by applicable law, each party to this Contract hereby expressly waives any right to trial by jury of any claim, demand, action or cause of action (each, an “Action”)
(a) arising out of this Contract, including any present or future amendment thereof or (b) in any way connected with or related or incidental to the dealings of the parties or any of them with respect to this Contract (as hereafter amended) or any other instrument, document or agreement executed or delivered in connection herewith, or the transactions related hereto or thereto, in each case whether such Action is now existing or hereafter arising, and whether sounding in contract or tort or otherwise and regardless of which party asserts such Action; and each party hereby agrees and consents that any such Action shall be decided by court trial without a jury, and that any party to this Contract may file an original counterpart or a copy of this Section 21 with any court as written evidence of the consent of the parties to the waiver of any right they might otherwise have to trial by jury.

No Third-Party Beneficiary

The provisions of this Contract and of the documents to be executed and delivered at the Closings are and will be for the benefit of Seller and Buyer only (unless otherwise specifically set forth herein) and are not for the benefit of any third party, and accordingly, no third party shall have the right to enforce the provisions of this Contract or of the documents to be executed and delivered at the Closings.

Exhibits and Schedules

The following schedules or exhibits attached hereto shall be deemed to be an integral part of this Contract:

Exhibit 1 - Definitions

Exhibit 3.1 – Intentionally Deleted

Exhibit 3.1-A – Description of the Lake Ashton I Real Property

Exhibit 3.1-B – Description of the Lake Ashton II Real Property

Exhibit 3.3 – Form of Promissory Note

Exhibit 4.1 – Due Diligence Materials

Exhibit 5.2.1 - Form of Deed

Exhibit 5.2.2 - Form of Bill of Sale

Exhibit 5.2.3 - Form of Lease Assignment

Exhibit	5.2.4	-	Form	of	Assignment	and	Assumption	of Development Rights and Impact Fee Credits

Exhibit 5.2.5 – Form of Assignment of Declaration Rights

Exhibit 5.2.13 – Form of Assignment and Assumption of Golf Membership Agreements

Exhibit 5.2.14 - Form of Seller’s Representations and Warranties Certificate

Exhibit 31- Depiction of Storage and Maintenance Area

Exhibit 34 – Depiction of the Boundary Amendment Property

Captions

The section headings appearing in this Contract are for convenience of reference only and are not intended, to any extent and for any purpose, to limit or define the text of any section or any subsection hereof.

Construction

The parties acknowledge that the parties and their counsel have reviewed and revised this Contract and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Contract or any exhibits or amendments hereto. Accordingly, this Contract shall not be construed as if it had been prepared by one of the parties, but rather as if both parties had prepared it. Whenever required by the context of this Contract, the singular shall include the plural and vice versa. When the context so requires, the neuter gender includes the feminine or masculine. However, Seller has agreed to a Split Closing, an Initial Closing, and a Deferred Closing at Buyer’s request and as a reasonable accommodation to Buyer; accordingly, the provisions of the Contract shall be construed in such a way as to give full and complete effect to the parties’ respective rights and obligations hereunder in the context of such closings.

Termination of Contract

It is understood and agreed that if either Buyer or Seller terminates this Contract pursuant to a right of termination granted hereunder, such termination shall operate to relieve Seller and Buyer from all obligations under this Contract, except for such obligations as are specifically stated herein to survive the termination of this Contract including, without limitation, indemnification obligations and obligations related to the appropriate distribution of the Earnest Money.

Risk of Loss

Prior to Seller’s conveyance of the Golf Club or any portion thereof to be subsequently conveyed following the Initial Closing, the risk of loss shall remain with Seller. If, prior to Seller’s

conveyance thereof, the Real Property, Improvements, Tangible Property, Pro Shop Inventory or any part thereof shall be condemned, destroyed or damaged by fire or other casualty, Seller shall promptly notify Buyer. If, prior to Seller’s conveyance thereof, the Real Property or Improvements or any part thereof shall be condemned such that damages are in excess of $100,000.00 or if the Real Property, Improvements, Tangible Property, Pro Shop Inventory or any part thereof shall be destroyed or damaged by fire or other casualty the repair of which would cost in excess of ten percent (10%) of the Purchase Price, then, at the option of Buyer, which option shall be exercisable, if at all, by written notice thereof to Seller within ten (10) Business Days after Buyer receives written notice of such fire, earthquake or other casualty or condemnation, this Contract may be terminated by Buyer. If Buyer elects to terminate this Contract, the Earnest Money, to the extent no previously applied to the Purchase Price, shall be returned to Buyer in which event this Contract shall, without further action of the parties, become null and void, and neither party shall have any rights or obligations under this Contract, except those which expressly survive termination. In the event that Buyer does not exercise the option to terminate the Contract set forth above, or if the condemnation or casualty is below the threshold described above, then Buyer shall proceed to close hereunder, in which case Seller shall (i) provide Buyer with a credit against the Purchase Price in an amount equal to the lesser of: (a) the applicable insurance deductible, and (b) the reasonable estimated costs for the repair or restoration of the Real Property or Improvements required by such casualty or condemnation, and (ii) transfer and assign to Buyer all of Seller’s right, title and interest in and to all proceeds from all condemnation proceeds or casualty and lost profits insurance policies maintained by Seller with respect to the Real Property, Improvements, Tangible Personal Property, or Pro Shop Inventory except those proceeds allocable to lost profits and costs incurred by Seller for the period prior to the applicable closing.

Real Property Taxes, Personal Property Taxes, Transfer Tax and Costs of Closing.

Taxes and Assessments. Taxes and Assessments imposed against the Golf Course for the year of the applicable closing shall be prorated as of Cut-Off Time (as hereinafter defined) based on the previous year’s taxes or, if the applicable closing occurs after tax bills for the year of the applicable closing are issued, then based on current year’s taxes.

Personal Property Taxes. Personal property taxes imposed against any tangible personal property used in connection with the Golf Course for the year of the applicable closing shall be prorated as of Cut-Off Time (as hereinafter defined) based on the previous year’s taxes or, if the applicable closing occurs after tax bills for the year of the applicable closing are issued, then based on current year’s taxes.

Transfer Tax and Costs of Closing. Florida documentary stamp tax which is imposed on the conveyance of the Real Property, to the extent owing, shall be paid by Seller. Seller shall pay any cost associated with issuance of the Title Commitment and the premium for issuance of the Title Policy as well as recording costs for any instruments necessary to remedy any objection to title raised by Buyer. Florida documentary stamp tax which is imposed on the Notes, to the extent owing, shall be paid by Buyer. Buyer shall pay for costs to record the Deed and the Lake Ashton I Deed and other recordable instruments necessary to convey title to the Golf Club to Buyer or Buyer’s designee, all

Due Diligence costs and costs for the Survey. Each party shall be responsible for their own attorney’s fees. To the extent that any cost is not addressed herein, such cost shall be allocated between Seller and Buyer in a manner which is customary for commercial real estate transactions within the State of Florida.

CDD Special Assessments.

Annual Installments. Notwithstanding any provision of this Contract to the contrary, the treatment of special assessments levied by Buyer against any portion of the Golf Club shall be governed by the provisions of this Section 28.4. At or prior to any applicable closing, Seller shall pay all operations and maintenance special assessments levied by Buyer against the portion of the Golf Club to be acquired at such closing for any fiscal year preceding such closing (the “Outstanding O&M Assessments”). Any operations and maintenance special assessments levied by Buyer or the Lake Ashton I CDD, as the case may be, against any portion of the Golf Club for the fiscal year of such closing shall be prorated as of the Cut-Off Time. Additionally, at or prior to the applicable closing, Seller shall pay installments of any debt special assessments levied by Buyer or the Lake Ashton I CDD, as the case may be, for the fiscal year of such closing against the portion of the Golf Club to be acquired at such closing (the “Closing Year Debt Special Assessments” and together with the Outstanding O&M Assessments, the “Pre-Closing Special Assessments”). The Pre-Closing Special Assessments shall remain payable in accordance with the terms imposed by Buyer or the Lake Ashton I CDD, as the case may be, when said Pre-Closing Special Assessments were imposed and nothing contained in this Contract shall be deemed to modify the terms of payment of such Pre-Closing Special Assessments. Further, the Pre-Closing Special Assessments shall not be subject to proration but shall wholly be the responsibility of Seller.

Prepayment of Balance of Debt Special Assessments. At each applicable closing and following payment of the Closing Year Debt Special Assessments, Seller shall prepay all outstanding principal and accrued, but unpaid, interest of any debt special assessments levied by Buyer or the Lake Ashton I CDD, as the case may be, against the portion of the Golf Course to be acquired at the applicable closing (the “Debt Service Payoff”). As provided by the provisions of Section 3.3 of this Contract and Section 36 below, the amount of the Debt Service Payoff will be included in the original principal balance of the Note and paid in accordance with the terms thereof.

Buyer’s Cooperation. Buyer shall be obligated to cooperate with the Seller with regard to this Section 28.4, and to timely provide the amounts and call dates, if applicable, for the Pre-Closing Special Assessments levied by Buyer. The failure of Lake Ashton I to cooperate with Seller with regard to this Section 28.4 shall be deemed excusable delay

for Seller’s performance hereunder, and any deadline for Seller’s performance hereunder shall be extended until such time as Lake Ashton I cooperates with Seller with regard to this Section 28.4.

Adjustments, Allocations and Prorations.

The following provisions shall govern the adjustments and prorations that shall be made at each applicable closing and the allocation of income and expenses between Seller and Buyer. Except as expressly provided to the contrary in this Section 29, all items of revenue (including revenues from golf memberships for the month of closing), cost and expense, net of applicable discounts, with respect to the period prior to 11:59:59 P.M. (the “Cut-Off Time”) on the day prior to the Closing Date or the Deferred Closing Date, as the case may be, shall be for the account of Seller and all items of revenue, cost and expense, net of applicable discounts, with respect to the period after the Cut-Off Time on the day prior to the Closing Date or the Deferred Closing Date, as the case may be, shall be for the account of Buyer. Any net adjustment in favor of Buyer shall be credited against the Purchase Price payable at the applicable closing. Any net adjustment in favor of Seller shall be added to the Purchase Price payable at the applicable closing.

Prepaid Expenses, Deposits, and Deferred Income. All inventories, including, but not limited to, the Pro Shop Inventory, prepaid utility charges, rent, and prepaid expenses, including, but not limited to, membership fees and dues, prepaid greens fees, charges, annual cart fees or trail fees, fees, locker rentals, bag storage charges, and all other income and expense items shall be prorated as of the Cut-Off Time. All deposits for golf tournaments, private parties, banquets, and all current gift certificates, credit book, or rain checks which are issued but not redeemed prior to the Cut-Off Time, and deposits held by Seller from other events that occur after the Cut-Off Time shall be credited against the Purchase Price, and Buyer shall assume said contracts, agreements, gift certificates, and rain checks. Provided however, that portion of the prorated, prepaid golf membership fees due to Buyer shall not be credited against the Purchase Price and shall be paid in accordance with section 5.2.17.

Accounts Receivable and Accounts Payable. All of Seller’s accounts receivable shall remain the property of Seller, including, but not limited to, any outstanding receivables due to Seller from the developer of the Lake Ashton community. Buyer shall account for and pay to Seller all of Seller’s accounts receivable collected by Buyer net of collection costs charged by unaffiliated third parties (e.g. merchant fees) within fifteen (15) days following each billing date which occurs after the Closing Date or the Deferred Closing Date, as appropriate, but before ninety (90) days following the Closing Date. Buyer shall make a final accounting and payment to Seller within one hundred five (105) days following the Closing Date or the Deferred Closing Date, as appropriate (the “Collection Period”). If any of Seller’s accounts receivable shall remain unpaid after the Collection Period, Buyer shall advise Seller of such accounts receivable, including the name and address of the debtor and the amount owing, and Buyer shall thereafter have no further obligation with respect to Seller’s accounts receivable. During the Collection Period, regardless of payee designation, all payments received on account by Buyer or Seller from golf club members, if any, or others

who have an outstanding Seller’s accounts receivable shall be presumed to be payments to the most delinquent accounts receivable then outstanding. After the Collection Period, Seller may, in its sole discretion and in addition to the obligations of Buyer as hereinabove defined, exercise any and all efforts to collect delinquent Seller’s accounts receivables, including resort to legal action. All such efforts by Seller shall be at its sole cost and expense. All of Seller’s accounts payable for any period of time prior to the Closing Date or the Deferred Closing Date, as appropriate, shall be paid by Seller in full on or before the due date thereof.

Cash on Hand. The aggregate amount of cash on hand in the ordinary course of business at the Golf Course as of the Initial Closing or Bulk Closing, as appropriate, shall be referred to as the “Aggregate Cash Amount.” The Aggregate Cash Amount shall belong to Buyer; provided, however, that Seller shall receive a credit for the same at Closing. Buyer and Seller shall have representatives that count such cash together on the morning of the Closing Date or the Deferred Closing Date, as appropriate. All transferable deposits of Seller made for utilities, maintenance or service contracts, licenses, or otherwise, with respect to the Golf Club, except for utility deposits which are addressed in Section 29.6 below, shall be credited to Seller at the applicable closing. Other than the Aggregate Cash Amount, Buyer shall have no right or entitlement to any other cash or cash equivalents of Seller.

Contracts. Any amounts prepaid or payable under any leases, agreements or contracts, which are assumed by Buyer in connection with any applicable closing, shall be prorated and adjusted as of the Closing Date or the Deferred Closing Date, as appropriate. In the event any such amounts are not determinable, are incomplete, or are inaccurate, as of the Closing Date or the Deferred Closing Date, as appropriate, the parties agree to conduct a true-up of all such amounts in accordance with Section 29.7 below.

Payment of Credited Amounts. In any case in which Buyer receives a credit at any applicable closing on account of any obligation of Seller hereunder, Seller shall have no further liability for such obligation to the extent of the credit so given, and Buyer shall pay and discharge the same to the extent of the credit so given, together with any penalties, fines, fees, interest and other charges thereon or related thereto imposed by third parties or by law in connection with Buyer’s non-payment of such items.

Items for Which There Will Not be a Proration. Seller and Buyer agree that (a) none of the insurance policies relating to the Golf Club will be assigned to Buyer, and Buyer shall be responsible for arranging for its own insurance as of the Closing Date or the Deferred Closing Date, as appropriate; and (b) utilities, including telephone, electricity, water and gas, shall be terminated as to Seller’s account on the Closing Date or the Deferred Closing Date, as appropriate, and Buyer shall be responsible for all the necessary actions needed to arrange for utilities to be transferred to and continued in the name of Buyer beginning 12:01 A.M. on the Closing Date or the Deferred Closing Date, as appropriate, including the posting of any required deposits. Accordingly, there will be no prorations for insurance or utilities, unless a meter reading is unavailable for any particular utility, then such utility shall be prorated in the manner provided in Section 29 above. To the extent reasonably possible, Buyer and Seller shall cooperate to arrange for

utility and other service providers to separately bill each party for their respective periods of ownership, in which event no credit and no proration will be necessary. Seller shall be entitled to receive and be returned any deposits Seller may have with any utility companies or will receive a credit at the applicable closing from Buyer to the extent such deposits may be transferred to Buyer’s account.

Closing Statement; Post-Closing Reconciliation. The prorations and credits hereunder at the applicable closing shall be made based on the Closing Statement prepared by Title Agent and adjusted as aforesaid and approved in writing by the parties (which approval shall not be unreasonably withheld) prior to the applicable closing, based on actual figures to the extent available provided by the parties to the Title Agent. If any of the prorations cannot be calculated based on actual figures, then they shall be calculated based on the parties’ good faith estimates, which shall be subject to Seller’s and Buyer’s reasonable approval. As soon as reasonably practicable after the applicable closing but in no event later than sixty (60) days after the applicable closing, Seller and Buyer, acting reasonably and in good faith, shall reconcile between themselves the amounts to be prorated pursuant to this Contract, using any updated information with respect to such matters then available. Each party shall provide the other reasonable access to the books, records, computer runs and other documents relating to the Golf Course and other operations as are the subject of prorations pursuant to this Section 29, which contain information relevant to completing the final reconciliation. If the final reconciliation of prorations, as agreed to between Seller and Buyer, shows any amount due from Seller to Buyer, or vice versa, the party owing such amount shall pay such amount (in immediately available funds) within five (5) Business Days after reaching agreement on the final reconciliation.

Survival of Section 29. The obligations and rights of the parties under this Section 29 shall survive the Closings for the time periods set forth above, or indefinitely if no time period is specified.

Attorney Fees

If any action is brought by any party to this Contract to enforce or interpret its terms or provisions, the prevailing party will be entitled to reasonable attorney fees and costs incurred in connection with such action prior to and at trial and on any appeal therefrom. This provision shall survive the Closings and any termination of this Contract.

Condition to Buyer’s Obligation. During the Limited Inspection Period, Seller shall cause its affiliate, Ashton Golf-Storage, LLC (“Seller’s Affiliate”), to negotiate with Buyer, and Seller’s Affiliate and Buyer will negotiate, in good faith and with all due diligence, the terms and conditions of a mutually agreeable long-term, triple net lease for the use of the Golf Club’s storage and maintenance area, as the same is more particularly depicted on Exhibit 31 (the “Storage and Maintenance Lease”). As provided by Section 5.2.8 above, the Storage and Maintenance Lease will be executed at the closing where the Lake Ashton I Real Property is conveyed by the Seller. In the event of Split Closings, Buyer’s use of the Golf Club’s storage and maintenance area shall be governed by the provisions of the Operating Coordination Agreement. The Storage and Maintenance Lease shall contain the following essential terms: (a) a minimum term of fifty (50)

years; (b) an annual rental rate of Ten Dollars ($10.00); (c) the landlord shall possess the right to reconfigure or relocate the leased premises so long as the relocated or reconfigured space contains the same square footage as the original leased premises, the relocated or reconfigured space does not unreasonably diminish the functionality of the Buyer’s intended use, and the relocated or reconfigured space is located within the boundaries of either Buyer or the Lake Ashton I CDD, or both of them; and (d) Buyer may not assign the Storage and Maintenance Lease absent the consent of the landlord under the Storage and Maintenance Lease, which consent will not be unreasonably withheld but which may be conditioned upon (i) the Buyer’s agreement to reduce the lease term to not less than ten (10) years from the date of such assignment and (ii) the assignee’s agreement to pay market-rate rent. Notwithstanding any provision of this Contract to the contrary, in the event that Seller’s Affiliate and Buyer have not agreed upon a form of the Storage and Maintenance Lease before the expiration of the Limited Inspection Period, either party may elect to terminate this Contract by delivering written notice of such election to Seller prior to expiration of the Limited Inspection Period in which event the Earnest Money shall be promptly returned to Buyer, and neither party shall have any further liability or obligation hereunder (except for any indemnification and other obligations that may survive any termination hereunder).

OFAC Compliance

Seller and Buyer each represent and warrant that: (i) it is not on an SDN List (defined below), nor is it directly or indirectly owned or controlled by an SDN (defined below); and (ii) the purchase and sale of the Golf Club, and the consummation of any other transaction contemplated by this Contract, will not violate any country sanctions program administered and enforced by the Office of Foreign Assets Control (“OFAC”) of the U.S. Department of the Treasury. For the purposes hereof, an “SDN List” is defined as one of the lists published by OFAC of individuals and companies owned or controlled by, or acting for or on behalf of, OFAC targeted countries, as well as individuals, groups, and entities, such as terrorists and narcotics traffickers, designated under OFAC programs that are not country-specific, and an “SDN” is one of the individuals or companies listed on an SDN List.

Radon.

Pursuant to F.S. 404.056(5), Seller provides the following notice:

RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health department.

AS-IS.

EXCEPT AS OTHERWISE EXPRESSLY PROVIDED HEREIN OR IN ANY OF THE CLOSING DOCUMENTS, SELLER MAKES NO REPRESENTATION OR WARRANTY AS TO THE CONDITION OF THE GOLF CLUB AND BUYER IS PURCHASING THE GOLF CLUB “AS-IS, WHERE-IS” AND “WITH ALL FAULTS” AS OF THE CLOSING DATE OR THE DEFERRED CLOSING DATE, AS APPROPRIATE, WITH NO REPRESENTATION OR

WARRANTY BY SELLER AS TO FITNESS, SUITABILITY, HABITABILITY, USABILITY, OR ANY OTHER MATTER OR THING AFFECTING, AFFECTED BY OR RELATED TO THE PROPERTY. EACH OF THE REPRESENTATIONS AND WARRANTIES CONTAINED IN SECTION 7 ARE ACKNOWLEDGED BY SELLER TO BE MATERIAL AND TO BE RELIED UPON BY BUYER IN PROCEEDING WITH THIS TRANSACTION, AND SHALL BE DEEMED TO HAVE BEEN REMADE BY SELLER AS OF THE CLOSING DATE OR THE DEFERRED CLOSING DATE, AS APPROPRIATE. THE PROVISIONS OF THIS SECTION 34 SHALL SURVIVE THE CLOSINGS AND THE DELIVERY OF THE DEEDS TO BUYER.

Amendment of District Boundary. The Seller agrees to reasonably cooperate and consent, or file petitions as necessary, at no cost or expense to Seller, to effectuate the amendment of the boundaries of the Lake Ashton I CDD and the Lake Ashton II CDD to remove the area described in Exhibit 35 (the “Boundary Amendment Property”) from the Lake Ashton I CDD and to incorporate such area within the Lake Ashton II CDD. Buyer and Seller, if applicable, shall be obligated to prosecute such boundary amendment to completion in good faith and with all due diligence, so that the Boundary Amendment Property can be conveyed to the Buyer as soon as possible. Notwithstanding anything contained herein to the contrary, including, without limitation, the provisions of Section 5 and Section 36 hereof, Buyer shall be obligated to close on the Boundary Amendment Property within sixty (60) days after the completion of the Boundary Amendment Property being incorporated within the Lake Ashton II CDD and removed from Lake Ashton CDD, and such closing date shall also be deemed to be a Deferred Closing Date.

Lake Ashton I Property. . Buyer and Seller acknowledge that a portion of the Golf Club lies within the boundaries of the Lake Ashton I CDD as more particularly described on Exhibit 3.1-A and referred to herein as the “Lake Ashton I Real Property”. Notwithstanding any provision of this Contract to the contrary, Buyer and Seller agree that Buyer may, by delivering notice of such election on or before the Closing Date, elect only to acquire that portion of the Golf Club lying within the boundaries of the Lake Ashton II CDD as more particularly described on Exhibit 3.1-B and referred to herein as the “Lake Ashton II Real Property” (a “Notice of Split Closing”). Upon delivery of a Notice of Split Closing, Buyer shall proceed to acquire that portion of the Golf Club lying within the boundaries of the Lake Ashton II CDD on the Closing Date in accordance with the terms of this Contract and may, thereafter, acquire that portion of the Golf Club located within Lake Ashton I CDD on or before such date which is not later than five (5) years of the Closing Date. In the event of a Split Closing, the Purchase Price shall not be reduced however, the amount of the Note shall not include any portion of the Debt Service Payoff levied by the Lake Ashton I CDD and allocable to the portion of the Golf Club lying within the boundaries of the Lake Ashton I CDD, and the Seller shall have no obligation to pay any portion of the Debt Service Payoff levied by the Lake Ashton I CDD and allocable to the portion of the Golf Club lying within the boundaries of the Lake Ashton I CDD until the Deferred Closing Date. At the Deferred Closing, Buyer shall execute and deliver to Seller an unsecured promissory note in the form attached hereto as Exhibit 3.3 from Buyer in the amount of the Debt Service Payoff levied by the Lake Ashton I CDD and allocable to the portion of the Golf Club lying within the boundaries of the Lake Ashton I CDD. In the event of a Bulk Closing, the Buyer shall have the option to direct certain portions of the Real Property be conveyed to Lake Ashton I CDD and prior to such conveyance that such Real Property be subject to a ninety-nine-year lease in favor of the Buyer in a form reasonably acceptable to the Buyer.  The Buyer may elect to purchase all or a portion of

the Golf Club located within Lake Ashton I CDD at one or more times, and may direct that the Lake Ashton I Deed be issued in its name or that of its designee. Notwithstanding any provision herein contained to the contrary, in the event of delivery of a Notice of Split Closing, should Buyer subsequently elect not to acquire the portion of the Golf Club lying within the boundaries of the Lake Ashton I CDD, Buyer may at any time thereafter furnish written notice of such election to Seller in which event this Contract shall terminate. In the event the Deferred Closing Date has not occurred within five (5) years after the Closing Date, then either party may elect to terminate this Contract by written notice to the other party. Provided however, and notwithstanding the foregoing, such termination in accordance with either of the two (2) preceding sentences shall in no wise affect any of the rights and liabilities of Seller and Buyer with respect to any portion of the Golf Club which may theretofore have been acquired by Buyer.

Operating Coordination Agreement. Seller and Buyer recognize that, as more particularly provided by Section 37 above, Buyer may elect to only purchase certain portions of the Golf Club. These portions include, but are not limited to, the Pro Shop, Eagle’s Nest and 15 golf holes. Seller and Buyer acknowledge and agree that, in accordance with the provisions of Section 37 above, Buyer may elect not to purchase the remaining 3 holes associated with the Lake Ashton West Course and the 18 holes associated with the Lake Ashton East Course.

During the Limited Inspection Period, Seller and Buyer will negotiate, in good faith and with all due diligence, the terms and conditions of a mutually acceptable agreement pursuant to which the Buyer and Seller will agree to cooperate to operate their respective portions of the Golf Club in the event that Buyer elects to deliver a Notice of Split Closing as permitted herein (“Operating Coordination Agreement”). Notwithstanding any provision of this Contract to the contrary, in the event that Seller and Buyer have not agreed upon a form of the Operating Coordination Agreement before the expiration of the Limited Inspection Period, either party may elect to terminate this Contract by delivering written notice of such election to Seller prior to expiration of the Limited Inspection Period in which event the Earnest Money shall be promptly returned to Buyer and neither party shall have any further liability or obligation hereunder (except for any indemnification and other obligations that may survive any termination hereunder).

[Signatures on following pages. Remainder of this page is blank]

[Attached to Contract for Sale and Purchase (Lake Ashton Golf Club)]

IN WITNESS WHEREOF, this Contract is executed as of the Effective Date.

SELLER:

LAKE ASHTON GOLF CLUB, LTD., a
Florida limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title:	 Date: 	

LAKE ASHTON GOLF CLUB II, LTD., a
Florida limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title:	 Date: 	

ASHTON GOLF-EAGLES NEST, LLC, a
Florida limited liability company

By: Century Properties-RES, LLC As its: Manager

By:	 Name:	 Title:	 Date: 	

[Signatures continue on following page]

[Attached to Contract for Sale and Purchase (Lake Ashton Golf Club)]

BUYER:

LAKE	ASHTON	II	COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

By:	 Name:		 Title:		 Date:  		

EXHIBIT “1” DEFINITIONS
“Action” has the meaning set forth in Section 21 of this Contract. “Aggregate Cash Amount” has the meaning set forth in Section 29.3.
“Associations” means collectively the Lake Ashton Homeowners’ Association, Inc., a Florida corporation not for profit and Lake Ashton II Homeowners’ Association, Inc., a Florida corporation not for profit.

“Bill of Sale” means a bill of sale substantially in the form attached to this Contract as Exhibit 5.2.2.

“Boundary Amendment Property” has the meaning set forth in Section 35 of this Contract. “Bulk Closing” has the meaning set forth in Section 5.1 of this Contract.
“Business Day” means any day on which Seller is open for business other than a Saturday, a Sunday or a federal holiday.

“Buyer” has the meaning set forth in the introductory paragraph of this Contract.

“Buyer’s Acceptance Notice” shall have the meaning set forth in Section 4.3.2 of this Contract.

“CDD” means the Lake Ashton II Community Development District. “Closings” has the meaning set forth in Section 5.1 of this Contract. “Closing Date” has the meaning set forth in Section 5.1 of this Contract.
“Closing Statement” has the meaning set forth in Section 5.2.9 of this Contract.

“Closing Year Debt Special Assessments” has the meaning set forth in Section 28.4.1 of this Contract.

“Code” means the Internal Revenue Code of 1986, as amended.
“Collection Period” shall have the meaning set forth in Section 29.2 of this Contract. “Contract” means the Contract for Sale and Purchase to which this Exhibit 1 is attached
and which is more fully described in the introductory paragraph of such Purchase Contract.

“Cut-Off Time” has the meaning set forth in Section 29 of this Contract.

“Debt Service Payoff” shall have the meaning set forth in Section 28.4.2 of this Contract.

“Deed” has the meaning set forth in Section 5.2.1 of this Contract. “Deferred Closing” has the meaning set forth in Section 5.1 of this Contract.
“Deferred Closing Date” has the meaning set forth in Section 5.1 of this Contract.

“Deficit Funding Agreement” shall have the meaning set forth in Section 13 of this Contract.

“Development” shall mean that certain community commonly known as “Lake Ashton” located in Polk County, Florida.

“Due Diligence” has the meaning set forth in Section 4.2 of this Contract.

“Due Diligence Materials” has the meaning set forth in Section 4.1 of this Contract. “Earnest Money” has the meaning set forth in Section 3.4 of this Contract. “Effective Date” has the meaning set forth in Section 19 of this Contract
“Equipment” shall mean the equipment that is the subject of the Equipment Leases, if any. “Escrow Agent” has the meaning set forth in Section 3.4 of this Contract.
“Golf Club” means all of Seller’s right title and interest in and to (i) the Real Property (excluding the storage and maintenance area as depicted on Exhibit 31), (ii) any and all buildings, improvements, and fixtures located on the Real Property (excluding the storage and maintenance area as depicted on Exhibit 31) (the “Improvements”), (iii) [Intentionally Deleted], (iv) any other tangible personal property that Seller owns located on the Real Property or associated with the Real Property or the Golf Course and directly related to its operation (the “Tangible Property”),
(v) any service and supply contracts, golf memberships, Equipment Leases, tradenames, trademarks, warranties, guaranties, claims and other intangible property, together with any goodwill associated therewith, which Seller has an interest in directly related to the Real Property and/or any such buildings or improvements located thereon or the Tangible Property, to the extent owned, controlled and assignable by Seller, (vi) the Pro Shop Inventory; (vii) all permits, approvals, entitlements, impact fee credits, prepaid development fees, air and water rights, ingress and egress rights to the public right of ways, architectural, engineering and other work product, to the extent owned, controlled and assignable by Seller, and (viii) all other rights, benefits and entitlements associated with or relating to the Real Property, any buildings, improvements, fixtures or Tangible Property, to the extent owned, controlled and assignable by Seller.

“Golf Course” means the Lake Ashton Golf Course.

“Golf Membership Assignment” has the meaning set forth in Section 8.2.4 of this Contract.

“Governmental Authority” means the United States, any State of the United States or any subdivision, agency, department, commission, bureau or instrumentality of any of the foregoing having jurisdiction over the Golf Club.

“Initial Closing” has the meaning set forth in Section 5.1 of this Contract.

“Lake Ashton I” and “Lake Ashton I CDD” shall each mean Lake Ashton Community Development District a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes.

“Lake Ashton I Deed” has the meaning set forth in Section 5.2.2 of this Contract. “Lake Ashton I Real Property” has the meaning set forth in Section 36 of this Contract.
“Lake Ashton II” and “Lake Ashton II CDD” shall each mean Lake Ashton II Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

“Lake Ashton II Real Property” has the meaning set forth in Section 36 of this Contract. “LAR” has the meaning set forth in Section 10.3 of this Contract.
“Lease Assignment” has the meaning set forth in Section 5.2.3 of this Contract.

“Limited Due Diligence” shall mean the following investigatory and due diligence activities: title review and examination; survey preparation, review and examination; environmental surveys, testing and analysis; legal, permit and license status and transfer review; construction, termite, Americans with Disabilities Act of 1990 compliance, and engineering matters; building inspections and physical inspections and any other inspections or testing prompted by such due diligence efforts.

“Limited Inspection Period” shall have the meaning set forth in Section 4.2.1 of this Contract.

“Marked-up Commitment” shall have the meaning set forth in Section 11.2 of this Contract.

“New Construction Golf Memberships” shall have the meaning set forth in Section 10.2 of this Contract.

“Note” shall have the meaning set forth in Section 3.3 of this Contract.

“Note Payment Date” shall have the meaning set forth in Section 3.3 of this Contract. “Notice of Defects” shall have the meaning set forth in Section 4.3.2 of this Contract. “Notice of Split Closing” has the meaning set forth in Section 36 of this Contract. “OFAC” has the meaning set forth in Section 32 of this Contract.
“Operating Coordination Agreement” has the meaning set forth in Section 37 of this Contract.

“Outstanding O&M Assessments” shall have the meaning set forth in Section 28.4.1 of this Contract.

“Permitted Exceptions” mean and includes all of the following: (i) zoning and building ordinances and land use regulations applicable to the Golf Club, (ii) the lien of taxes and assessments not yet due and payable, (iv) any standard exclusions from coverage set forth in the jacket of the Title Policy (except as otherwise provided in Section 11), (iii) any exceptions caused by Buyer, its agents, representatives or employees, and (iv) all other matters approved or deemed approved by Buyer pursuant to Section 11.

“Personal Property” means the Golf Club excluding the Real Property and buildings, improvements and fixtures located on the Real Property.

“Pre-Closing Special Assessments” has the meaning set forth in Section 28.4.1 of this Contract.

“Pro Shop Inventory” means the clothing, golf equipment and other personal property properly classified as inventory that is located on the Closing Date within the pro shop that serves the Golf Course.

“Purchase Price” has the meaning set forth in Section 3.1 of this Contract.

“Real Property” means that certain real property more particularly described on Exhibit 3.1-A and on Exhibit 3.1-B to the Contract.

“Resale Golf Memberships” has the meaning set forth in Section 10.3 of this Contract.

“Restrictive Covenant Rights” shall mean those certain rights of Seller, if any, relating to the ownership and operation of the “Golf Course Tract” (as more particularly defined in the following declarations of restrictive covenants), arising pursuant to the provisions of that certain Master Declaration of Covenants, Conditions and Restrictions for Lake Ashton Golf Club recorded in Official Records Book 4928, Page 1653, as amended, and the Master Declaration of Covenants, Conditions and Restrictions for Ashton West recorded in Official Records Book 6163, Page 1097, as amended, all of the public records of Polk County, Florida.

“SDN” has the meaning set forth in Section 32 of this Contract. “SDN List” has the meaning set forth in Section 32 of this Contract.
“Seller” has the meaning set forth in the introductory paragraph of this Contract. “Seller’s Affiliate” has the meaning set forth in Section 31 of this Contract.
“Seller’s Defect Response” shall have the meaning set forth in Section 4.3.2 of this Contract.

“Seller’s Representative” means and shall be limited to Jim D. Lee.

“Split Closing” has the meaning set forth in Section 5.1 of this Contract. “State” means the State of Florida.
“Storage and Maintenance Lease” has the meaning set forth in Section 31 of this Contract. “Subsidized Golf Memberships” has the meaning set forth in Section 10.3 of this Contract.
“Subsidized Golf Membership Contribution” has the meaning set forth in Section 10.4 of this Contract.

“Survey” has the meaning set forth in Section 11.1 of this Contract.

“Taxes and Assessments” has the meaning set forth in Section 3.3 of this Contract.

“Title Agent” has the meaning set forth in Section 11.1 of this Contract. “Title Commitment” has the meaning set forth in Section 11.1 of this Contract “Title Company” means Old Republic National Title Insurance Company.
“Title Objection Notice” has the meaning set forth in Section 11.1 of this Contract. “Title Policy” has the meaning set forth in Section 11.1 of this Contract.

Exhibit 3.1 Intentionally Deleted

Exhibit 3.1-A

Description of the Lake Ashton I Real Property

PARCEL I: (Lake Ashton Golf Club, Ltd., a Florida limited partnership) LAKE ASHTON GOLF COURSE East:
Phase I Tracts GC-1, GC-2, GC-3, GC-4, GC-6, GC-7, GC-8, GC-9, GC-10 and GC-
11, LAKE ASHTON GOLF CLUB PHASE I, according to the map or plat thereof as recorded in Plat Book 117, Page 19, Public Records of Polk County, Florida;

(Parcel ID # 27-29-18-865152-002760) (Parcel ID # 27-29-18-865152-002770)

LESS AND EXCEPT that portion of Tract GC-10 as described in that certain Special Warranty Deed recorded in Official Records Book 7751, Page 549, Public Records of Polk County, Florida, being more particularly described as follows:

Tract CDD-11 and all rights of way, FIRST REPLAT OF THE PALMS OF ASHTON, A CONDOMINIUM, as shown in Condominium Book 15, Page 38, Public Records of Polk County, Florida, LESS that portion of said Tract CDD-11 being a replat of a portion of Tract GC-10, LAKE ASHTON GOLF CLUB PHASE I, as recorded in Plat Book 117, Page 19, Public Records of Polk County, Florida.

ALSO LESS AND EXCEPT that portion of Tracts GC-1 and GC-10 as described in that certain Quit Claim Deed recorded in Official Records Book 6374, Page 999, Public Records of Polk County, Florida, being more particularly described as follows:

A parcel of land being a portion of Tract B, Tract GC-1 and Tract GC-10, LAKE ASHTON GOLF CLUB PHASE I, as recorded in Plat Book 117, Pages 19 through 27, Public Records of Polk County, Florida, being described as follows:

Commence at the Northwest corner of said Tract B, said point being the common corner with the Southwest corner of Lot 162 of said LAKE ASHTON GOLF CLUB PHASE I; thence South 55° 00’ 42" East, along the Northerly line of said Tract B,
106.00 feet; thence North 34° 59’ 18" East, along the Westerly line of said Tract B, 77.63 feet; thence South 62° 49’ 07" East, along said Northerly line,
437.53 feet to the Point of Beginning; thence South 27° 48’ 30" West, 122.72 feet; thence North 62° 15’ 21" West, 409.04 feet to the Point of Curvature of a curve to the left having a radius of 285.00 feet, a central angle of 10° 59’ 44", a chord bearing of North 67° 45’ 13" West, and a chord distance of 54.61 feet; thence Northwesterly along the arc of said curve 54.69 feet to the Point of Tangency; thence North 73° 15’ 05" West, 102.77 feet to a point on a curve to the left having a radius of 26.73 feet, a central angle of 37° 52’ 41", a chord bearing of South 84° 28’ 57" West, and a chord distance of 17.35 feet; thence Westerly along the arc of said curve 17.67 feet to a point on the Easterly right-of-way line of Ashton Club Drive, as shown on said LAKE ASHTON GOLF CLUB PHASE I said point being on a non-tangent curve to the right having a radius of
165.00 feet, a central angle of 01° 38’ 40", a chord bearing of South 60° 26’ 57" West, and a chord distance of 4.74 feet; thence Southwesterly along said Easterly right-of-way line and the arc of said curve 4.74 feet; thence South 73° 15’ 05" East, 107.66 feet; thence South 27° 21’ 43" West, 485.99 feet; thence South 53° 29’ 08" East, 142.31 feet; thence South 60° 50’ 24" East,
320.00 feet; thence North 29° 09’ 36" East, 12.60 feet; thence South 60° 50’ 24" East, 160.00 feet; thence South 29° 09’ 36" West, 10.28 feet; thence South

60° 50’ 24" East, 160.00 feet; thence South 87° 20’ 53" East, 145.58 feet;
thence North 82° 44’ 21" East, 80.22 feet; thence North 80° 05’ 54" East, 118.63
feet; thence North 63° 10’ 38" East, 107.26 feet; thence North 13° 32’ 07" East,
105.00 feet to said Easterly line of Tract B, thence North 01° 53’ 54" West, along said Easterly line, 27.35 feet; thence North 00° 19’ 47" East, along said Easterly line, 107.94 feet; thence North 07° 13’ 36" East, along said Easterly line, 142.65 feet; thence North 01° 34’ 47" East, along said Easterly line and it’ s Northerly extension, 76.35 feet; thence North 62° 38’ 17" West, 69.92 feet; thence South 27° 48’ 30" West, 5.00 feet; thence North 62° 38’ 17" West,
252.11 feet; thence North 62° 15’ 21" West, 166.89 feet; thence South 27° 48’ 30" West, 22.28 feet to the Point of Beginning.

ALSO LESS AND EXCEPT that portion of Tract GC-9 as described in that certain Quit Claim Deed recorded in Official Records Book 7351, Page 582, Public Records of Polk County, Florida, being more particularly described as follows:

ROADWAY

A parcel of land being a portion of Tract A, GC-9 and Tract WA-2, LAKE ASHTON GOLF CLUB PHASE I, as recorded in Plat Book 117, Pages 19 through 27, Public Records of Polk County, Florida, being described as follows:

Commence at the Northwest corner of said Tract A; thence South 89° 40’ 08" East, along the North line of said Tract A, 15.35 feet to the Point of Beginning; thence continue South 89° 40’ 08" East, 40.38 feet; thence North 19° 26’ 02"
West, 35.78 feet; thence North 70° 33’ 58" East, 30.00 feet; thence South 19° 26’ 02" East, 46.56 feet to a point on said Tract A; thence continue South 19° 26’ 02" East, 109.59 feet to the Point of Curvature of a curve to the right having a radius of 215.00 feet, a central angle of 19° 45’ 53", a chord bearing of South 09° 33’ 05" East, and a chord distance of 73.80 feet; thence along the arc of said curve 74.17 feet to the Point of Tangency; thence South 00° 19’ 52" West, 577.21 feet to the Point of Curvature of a curve to the left having a radius of 30.00 feet, a central angle of 38° 33’ 08", a chord bearing of South 18° 56’ 42" East, and a chord distance of 19.81 feet; thence along the arc of said curve 20.19 feet to the Point of Tangency; thence South 38° 13’ 16" East,
32.95 feet to the boundary of said Tract GC-9; thence South 38° 05’ 42" West, along said boundary, 30.88 feet; thence North 38° 13’ 16" West, 29.60 feet to the Point of Curvature of a curve to the left having a radius of 50.00 feet, a central angle of 51° 26’ 52", a chord bearing of North 63° 56’ 42" West, and a chord distance of 43.40 feet; thence along the arc of said curve 44.90 feet to the Point of Tangency, a point on the South line of said Tract A; thence North 89° 40’ 08" West, along said South line of Tract A, 105.35 feet, to a point on the West line of said Tract A; thence North 06° 50’ 04" West, along said West line of Tract A, 30.24 feet; thence South 89° 40’ 08" East, 98.50 feet to the Point of Curvature of a curve to the left having a radius of 30.00 feet, a central angle of 90° 00’ 00", a chord bearing of North 45° 19’ 52" East, and a chord distance of 42.43 feet; thence along the arc of said curve 47.12 feet to the Point of Tangency; thence North 00° 19’ 52" East, 208.04 feet to the Point of Curvature of a curve to the left having a radius of 30.00 feet, a central angle of 90° 00’ 00", a chord bearing of North 44° 40’ 08" West, and a chord distance of 42.43 feet; thence along the arc of said curve 47.12 feet to the Point of Tangency; thence North 89° 40’ 08" West, 96.61 feet; to the Point of Curvature of a curve to the right having a radius of 215.00 feet, a central angle of 21° 20’ 12", a chord bearing of North 79° 00’ 02" West, and a chord distance of 79.60 feet; thence along the arc of said curve 80.07 feet to a point on the East line of Lake Ashton Golf Club Phase IV, as recorded in Plat Book 135, Pages 35-36, Public Records of Polk County, Florida; thence North 07° 13’

36" East, along said East line, 31.15 feet to a point on a non-tangent curve to the left having a radius of 185.00 feet, a central angle of 23° 44’ 35", a chord bearing of South 77° 47’ 51" East, and a chord distance of 76.12 feet; thence along the arc of said curve 76.66 feet to the Point of Tangency; thence South 89° 40’ 08" East, 96.61 feet to the Point of Curvature of a curve to the left having a radius of 30.00 feet, a central angle of 90° 00’ 00", a chord bearing of North 45° 19’ 52" East, and a chord distance of 42.43 feet; thence along the arc of said curve 47.12 feet to the Point of Tangency; thence North 00° 19’ 52" East, 246.07 feet to the Point of Curvature of a curve to the left having a radius of 185.00 feet, a central angle of 19° 45’ 53", a chord bearing of North 09° 33’ 05" West, and a chord distance of 63.50 feet; thence along the arc of said curve 63.82 feet to the Point of Tangency; thence North 19° 26’ 02" West,
66.38 feet to the Point of Curvature of a curve to the left having a radius of
20.00 feet, a central angle of 90° 00’ 00", a chord bearing of North 64° 26’ 02" West, and a chord distance of 28.28 feet; thence along the arc of said curve
31.42 feet to the Point of Tangency; thence South 70° 33’ 58" West, 18.00 feet; thence North 19° 26’ 02" West, 47.65 feet to the Point of Beginning.

ALSO LESS AND EXCEPT a portion of Tract GC-8, LAKE ASHTON GOLF CLUB, PHASE I,
according to the map or plat thereof as recorded in Plat Book 117, Page 19, Public Records of Polk County, Florida as described in that certain Special Warranty Deed recorded in Official Records Book 4943, Page 680, Public Records of Polk County, Florida, being more particularly described as follows:

Commence at the Southeast corner of Lot 237 of said LAKE ASHTON GOLF CLUB PHASE I for the Point of Beginning; thence North 00° 48’ 47" East, along the East line of said Lot 237 and it’ s Northerly extension, 120.00 feet; thence South 89° 11’ 13" East, 70.00 feet; thence South 00° 48’ 47" West, parallel with said East line of Lot 237, a distance of 105.86 feet to the Northerly right-of-way line of Ashton Club Drive; thence South 79° 23’ 40" West, along said Northerly right- of-way line, 71.41 feet to the Point of Beginning.

ALSO LESS AND EXCEPT from Tract “GC-3” (SALES CENTER) and Tract “GC-2” (GOLF
COURSE) those certain parcels of land conveyed to Ashton Golf-Sales Center, LLC, a Florida limited liability company, by virtue of Special Warranty Deed recorded January 3, 2018, in Official Records Book 10357, Page 259, Public Records of Polk County, Florida, described as follows:

A portion of Polk County Property Appraiser Parcel Identification Number: 27- 29-18-865152-002760.

All of TRACT "GC-3" (SALES CENTER) as depicted in the Plat recorded in Plat Book 117, Pages 19-27, Public Records of Polk County, Florida.

ALSO LESS AND EXCEPT a parcel of land being a portion of TRACT "GC-2" (GOLF COURSE), Plat Book 117, Pages 19-27, Public Records of Polk County, Florida, described as follows:

Commence at the Northeast corner of TRACT "GC-3" (SALES CENTER) as recorded in Plat Book 117, Pages 19-27, Public Records of Polk County, Florida; thence North 89° 59’ 59” West, along the North line of said TRACT “GC-3” (SALES CENTER),
219.97 feet, to the POINT OF BEGINNING; thence continue along said North line,
82.56 feet, to the West line of said TRACT “GC-3” (SALES CENTER); thence South 00° 00’ 02” West, along said West line, 155.67 feet, to the Northerly right- of-way of Ashton Club Drive, as recorded in Plat Book 117, Pages 19-27, Public Records of Polk County, Florida; thence North 89° 59’ 59” West, along said Northerly right-of-way, 59.28 feet; thence North 00° 00’ 28” East, 182.82 feet;

thence North 89° 59’ 45” East, 111.72 feet; thence North 45° 00’ 01” East, 30.51 feet to a witness corner; thence continue North 45° 00’ 01” East, 32.14 feet; thence South 44° 59’ 59” East, 29.83 feet; thence South 45° 00’ 01” West, 30.66 feet to a witness corner; thence continue South 45° 00’ 01” West, 19.34 feet; thence South 00° 12’ 35” West, 15.01 feet, to the POINT OF BEGINNING.

Phase II (Lake Ashton Golf Club, Ltd., a Florida limited partnership)

Lots 540, 541, 542, Tracts GC-12, GC-13 and GC-14, LAKE ASHTON GOLF CLUB PHASE
II, according to the map or plat thereof as recorded in Plat Book 119, Page 17, Public Records of Polk County, Florida; LESS AND EXCEPT that portion of GC-12, LAKE ASHTON GOLF CLUB PHASE II, according to the map or plat thereof as recorded in Plat Book 119, Page 17, Public Records of Polk County, Florida, that was replatted to LAKE ASHTON GOLF CLUB PHASE III-B, according to the map or plat thereof as recorded in Plat Book 129, Page 47, Public Records of Polk County, Florida.

(Parcel ID # 27-29-19-865200-005421) (Parcel ID # 27-29-19-865200-005870) (Parcel ID # 27-29-19-865200-005880) (Parcel ID # 27-29-19-865200-005890)

LESS AND EXCEPT those certain parcels of land conveyed to Ashton Golf-Eagle’s Nest, LLC, a Florida limited liability company, by virtue of Special Warranty Deed recorded December 29, 2017, in Official Records Book 10355, Page 401, Public Records of Polk County, Florida, described as follows:

A portion of Polk County Property Appraiser Parcel Identification Numbers: 27- 29-19-865200-005400; 27-29-19-865200-005410; 27-29-19-865200-005870; and 27-
29-19-865200-005420.

Lots 540 and 541, as recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida

AND LESS AND EXCEPT PARCEL 2:
A parcel of land being a portion of TRACT "GC-12" (GOLF COURSE), recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida, described as follows:
Commence at the Southwest corner of said TRACT “GC-12”; thence North 00° 51’ 50” West, along the West line of said TRACT “GC-12”, 32.47 feet to the POINT OF BEGINNING”; thence continue along said West line, 150.50 feet; thence South 89° 57’ 43” East, 7.42 feet; thence South 09° 54’ 54” East, 48.17 feet; thence South
07° 26’ 07” West, 103.91 feet to the POINT OF BEGINNING.
AND LESS AND EXCEPT PARCEL 4:

A parcel of land being a portion of LOT 542, recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida, described as follows:
Commence at the Northwest corner of said LOT 542; thence South 00° 51’ 50” East, along the Westerly line of said LOT 542, 27.37 feet to the POINT OF BEGINNING; thence South 73° 10’ 06” East, 81.19 feet; thence South 76° 12’ 18” East, 54.76 feet to the Westerly right-of-way of Dunmore Drive, also being a point on a non-tangent curve to the right, having a radius of 90.00 feet, a central angle of 4° 47’ 20”, a chord bearing of South 01° 31’ 50” West, and a chord length of
7.52 feet; thence along the arc of said curve and said Westerly right-of-way,
7.52 feet; thence South 00° 51’ 50” East, 2.58 feet to the South line of said LOT 542; thence South 89° 08’ 10” West, along said South line, 130.00 feet to the West line of said LOT 542; thence North 00° 51’ 50” West, along said West line, 48.63 feet to the POINT OF BEGINNING.

Phase IV-A (Lake Ashton Golf Club, Ltd., a Florida limited partnership)

Tract GC-11, LAKE ASHTON GOLF CLUB PHASE IV-A, according to the map or plat thereof as recorded in Plat Book 146, Page 47, Public Records of Polk County, Florida.

(Parcel ID # 27-29-18-865157-009630)

Exhibit 3.1-B

Description of the Lake Ashton II Real Property

Phase V (Lake Ashton Golf Club II, Ltd., a Florida limited partnership)

(Parcel ID # 27-29-19-865201-010660)

TRACT “GC-16” (GOLF COURSE), of LAKE ASHTON GOLF CLUB PHASE V, recorded in Plat
Book 143, Pages 22 through 24, Public Records of Polk County, Florida

LESS AND EXCEPT:

A portion of TRACT “GC-16” (GOLF COURSE), of LAKE ASHTON GOLF CLUB
PHASE V, recorded in Plat Book 143, Pages 22 through 24, Public Records of Polk County, Florida, described as follows:

BEGIN at the Southwest corner of said TRACT “GC-16”; thence North 89° 29’ 39” East, along the South line of said plat of LAKE ASHTON GOLF CLUB PHASE V, 1319.41 feet; thence North 49° 15’ 56” West, 33.52 feet; thence North 62° 23’
09” West, 32.48 feet; thence North 89° 26’ 26” West, along a building, 900.40
feet; thence South 70° 50’ 25” West, 38.27 feet; thence North 89° 00’ 51” West,
35.27 feet; thence South 66° 39’ 43” West, 63.77 feet; thence North 81° 10’ 41” West, 20.73 feet; thence South 89° 49’ 23” West, 90.80 feet; thence North 84° 03’ 45” West, 31.42 feet; thence North 75° 05’ 29” West, 87.86 feet; thence South 89° 41’ 54” West, 7.66 feet to the West line of said TRACT “GC-16”; thence South 00° 17’ 21” East, along said West line, 48.86 feet to the POINT OF BEGINNING.

PARCEL II:

LAKE ASHTON GOLF COURSE WEST:

LAKE ASHTON GOLF CLUB PHASE VI
(Lake Ashton Golf Club II, Ltd., a Florida limited partnership)

Tract GC-17, LAKE ASHTON GOLF CLUB PHASE VI, as recorded in Plat Book 144, Pages
12 through 14, Public Records of Polk County, Florida.

(Parcel ID # 27-29-19-865202-011980)

LAKE ASHTON WEST PHASE I
(Lake Ashton Golf Club II, Ltd., a Florida limited partnership)

Lot 12, Lot 13, Lot 14, Lot 294, Tract GC-1, Tract GC-2 Tract GC-3 and Tract GC-4, LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida.

(Parcel ID # 27-29-24-690596-000130) (Parcel ID # 27-29-24-690596-000140) (Parcel ID # 27-29-24-690596-002940) (Parcel ID # 27-29-24-690596-003620) (Parcel ID # 27-29-24-690596-003621)

(Parcel	ID	#	27-29-24-690596-003622)	
(Parcel	ID	#	27-29-24-690596-003623)	
(Parcel	ID	#	27-29-24-690596-003630)	
(Parcel	ID	#	27-29-24-690596-003631)	
(Parcel	ID	#	27-29-24-690596-003632)	
(Parcel	ID	#	27-29-24-690596-003633)	
(Parcel	ID	#	27-29-24-690596-003634)	
(Parcel	ID	#	27-29-24-690596-003640)	
(Parcel	ID	#	27-29-24-690596-003641)	
(Parcel	ID	#	27-29-24-690596-003642)	
(Parcel	ID	#	27-29-24-690596-003650)	
(Parcel	ID	#	27-29-24-690596-003830)	

TRACT 3 - GOLF COURSE
(Lake Ashton Golf Club II, Ltd., a Florida limited partnership)

A parcel of land being a portion of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 276.14 feet; thence South 89° 08’ 10" West, 260.17 feet to the Point of Beginning; thence North 66°
30’ 01" West, 59.94 feet; thence South 88° 52’ 45" West, 132.57 feet to the Point of Curvature of a curve to the left having a radius of 285.00 feet, a central angle of 26° 16’ 24", a chord bearing of South 75° 44’ 33" West, and a chord distance of 129.55 feet; thence Westerly along the arc of said curve
130.69 feet; thence South 60° 25’ 10" West, 34.81 feet; thence North 27° 47’ 47" West, 100.17 feet; thence South 60° 10’ 48" West, 29.83 feet to a point on a non-tangent curve to the right having a radius of 415.00 feet, a central angle of 28° 42’ 09", a chord bearing of South 74° 31’ 47" West, and a chord distance of 205.73 feet; thence Westerly along the arc of said curve 207.90 feet; thence South 88° 52’ 45" West, 229.21 feet; thence South 01° 06’ 36" East, 360.11 feet to a point on a non-tangent curve to the right having a radius of 1189.08 feet, a central angle of 36° 30’ 11", a chord bearing of South 19° 06’ 02" West, and a chord distance of 744.81 feet; thence Southerly along the arc of said curve
757.56 feet to the Point of Compound Curvature of a curve to the right having a radius of 275.00 feet, a central angle of 92° 33’ 35", a chord bearing of South 83° 37’ 55" West, and a chord distance of 397.50 feet; thence Westerly along the arc of said curve 444.26 feet to the Point of Compound Curvature of a curve to the right having a radius of 413.49 feet, a central angle of 08° 09’ 31", a chord bearing of North 46° 00’ 32" West, and a chord distance of 58.83 feet; thence Northwesterly along the arc of said curve 58.88 feet to the Point of Reverse Curvature of a curve to the left having a radius of 250.00 feet, a central angle of 49° 11’ 29", a chord bearing of North 66° 31’ 31" West, and a chord distance of 208.11 feet; thence Northwesterly along the arc of said curve
214.64 feet to the Point of Tangency; thence South 88° 52’ 45" West, 513.05 feet; thence North 01° 07’ 15" West, 110.00 feet; thence South 88° 52’ 45" West,
43.47 feet; thence South 00° 44’ 28" East, 243.15 feet; thence South 89° 34’ 26" West, 121.00 feet to the West line of the East 1/2 of said Section 24; thence South 00° 44’ 28" East, along said West line of the East 1/2, a distance of 200.00 feet; thence South 89° 34’ 26" West, 1331.77 feet to the West line of the Southeast 1/4 of the Northwest 1/4 of said Section 24; thence South 00° 32’ 14" East, along said West line of the Southeast 1/4 of the Northwest 1/4, a distance of 1133.87 feet; thence South 89° 26’ 04" West, 666.95 feet to the Easterly maintained right-of-way line of County Road 653 (Rattlesnake Road); thence along said Easterly maintained right-of- way line the following seventeen

(17) courses: (1) thence South 27° 26’ 27" East, 71.67 feet; (2) thence South 27° 36’ 46" East, 100.00 feet; (3) thence South 27° 29’ 54" East, 100.00 feet;
(4) thence South 27° 53’ 58" East, 100.00 feet; (5) thence South 27° 53’ 54" East, 100.12 feet; (6) thence South 27° 26’ 27" East, 100.00 feet; (7) thence South 27° 40’ 13" East, 100.00 feet; (8) thence South 28° 00’ 50" East, 100.00 feet; (9) thence South 28° 28’ 20" East, 100.01 feet; (10) thence South 27° 23’ 01" East, 100.00 feet; (11) thence South 27° 33’ 20" East, 100.00 feet; (12) thence South 27° 36’ 46" East, 100.00 feet; (13) thence South 28° 45’ 31" East,
100.02 feet; (14) thence South 25° 50’ 14" East, 100.04 feet; (15) thence South 32° 38’ 29" East, 78.47 feet; (16) thence South 32° 38’ 29" East, 20.58 feet;
(17) thence South 28° 11’ 09" East, 89.08 feet; thence North 61° 48’ 51" East,
132.16 feet to a point on a non-tangent curve to the right having a radius of
250.00 feet, a central angle of 12° 26’ 17", a chord bearing of North 68° 39’ 39" East, and a chord distance of 54.16 feet; thence Northeasterly along the arc of said curve 54.27 feet to a point on a non-tangent curve to the left having a radius of 10811.43 feet, a central angle of 02° 07’ 35", a chord bearing of North 70° 58’ 07" East, and a chord distance of 401.21 feet; thence Easterly along the arc of said curve 401.23 feet; thence North 59° 45’ 49" East,
208.82 feet; to the Point of Curvature of a curve to the right having a radius of 524.00 feet, a central angle of 47° 38’ 45", a chord bearing of North 83° 35’ 11" East, and a chord distance of 423.30 feet; thence Easterly along the arc of said curve 435.75 feet to the Point of Reverse Curvature of a curve to the left having a radius of 726.00 feet, a central angle of 31° 17’ 36", a chord bearing of South 88° 14’ 14" East, and a chord distance of 391.61 feet; thence Easterly along the arc of said curve 396.52 feet to the Point of Tangency; thence North 76° 06’ 57" East, 30.09 feet to the Point of Curvature of a curve to the left having a radius of 35.00 feet, a central angle of 112° 45’ 43", a chord bearing of North 19° 44’ 06" East, and a chord distance of 58.29 feet; thence Northerly along the arc of said curve 68.88 feet to the Point of Compound Curvature of a curve to the left having a radius of 160.00 feet, a central angle of 20° 01’ 53", a chord bearing of North 46° 39’ 42" West, and a chord distance of 55.65 feet; thence Northwesterly along the arc of said curve 55.94 feet to the Point of Tangency; thence North 56° 40’ 39" West, 610.13 feet; thence South 30° 58’ 11" West, 99.14 feet to a point on a non-tangent curve to the right having a radius of 1115.00 feet, a central angle of 08° 43’ 03", a chord bearing of North 54° 40’ 17" West, and a chord distance of 169.48 feet; thence Northwesterly along the arc of said curve 169.65 feet to a point on a non- tangent curve to the right having a radius of 425.00 feet, a central angle of 25° 19’ 40", a chord bearing of South 57° 04’ 14" West, and a chord distance of
186.35 feet; thence Southwesterly along the arc of said curve 187.87 feet to the Point of Tangency; thence South 69° 44’ 04" West, 503.48 feet to the Point of Curvature of a curve to the right having a radius of 340.00 feet, a central angle of 82° 34’ 35", a chord bearing of North 68° 58’ 38" West, and a chord distance of 448.70 feet; thence Northwesterly along the arc of said curve 490.02 feet to the Point of Tangency; thence North 27° 41’ 21" West, 251.90 feet; thence North 20° 40’ 36" West, 91.10 feet to the Point of Curvature of a curve to the right having a radius of 150.00 feet, a central angle of 99° 02’ 53", a chord bearing of North 28° 50’ 50" East, and a chord distance of 228.20 feet; thence Northeasterly along the arc of said curve 259.31 feet to the Point of Tangency; thence North 78° 22’ 17" East, 572.15 feet to a point on a non-tangent curve to the left having a radius of 185.00 feet, a central angle of 19° 37’ 35", a chord bearing of North 68° 33’ 41" East, and a chord distance of 63.06 feet; thence Northeasterly along the arc of said curve 63.37 feet; thence North 38° 38’ 51" West, 175.01 feet to the Point of Curvature of a curve to the left having a radius of 90.00 feet, a central angle of 51° 53’ 23", a chord bearing of North 64° 35’ 33" West, and a chord distance of 78.75 feet; thence Northwesterly along the arc of said curve 81.51 feet to the Point of Tangency;

thence South 89° 27’ 46" West, 83.94 feet to the Point of Curvature of a curve to the right having a radius of 155.00 feet, a central angle of 205° 29’ 56", a chord bearing of North 12° 12’ 44" East, and a chord distance of 302.36 feet; thence Northerly along the arc of said curve 555.93 feet to the Point of Tangency; thence South 65° 02’ 18" East, 181.23 feet to the Point of Curvature of a curve to the right having a radius of 340.00 feet, a central angle of 26° 23’ 27", a chord bearing of South 51° 50’ 35" East, and a chord distance of
155.23 feet; thence Southeasterly along the arc of said curve 156.61 feet to the Point of Tangency; thence South 38° 38’ 51" East, 656.93 feet to the Point of Curvature of a curve to the left having a radius of 875.00 feet, a central angle of 21° 45’ 24", a chord bearing of South 49° 31’ 33" East, and a chord distance of 330.27 feet; thence Southeasterly along the arc of said curve 332.26 feet; thence South 29° 44’ 01" West, 112.07 feet; thence South 56° 40’ 39" East,
204.88 feet; thence North 33° 19’ 21" East, 100.00 feet; thence South 56° 40’ 39" East, 348.88 feet; thence North 33° 19’ 21" East, 124.60 feet; thence South 90° 00’ 00" East, 119.69 feet; thence South 00° 00’ 00" East, 125.00 feet; thence South 51° 55’ 47" East, 79.55 feet; thence South 15° 59’ 51" East, 361.43 feet; thence South 74° 46’ 49" West, 120.87 feet to a point on a non- tangent curve to the left having a radius of 385.00 feet, a central angle of 76° 19’ 56", a chord bearing of South 52° 39’ 56" East, and a chord distance of 475.82 feet; thence Southeasterly along the arc of said curve 512.92 feet to the Point of Tangency; thence North 89° 10’ 06" East, 7.93 feet; thence South 01° 33’ 09" West, 100.09 feet; thence North 89° 10’ 06" East, 477.88 feet to the Point of Curvature of a curve to the right having a radius of 415.00 feet, a central angle of 23° 00’ 23", a chord bearing of South 79° 19’ 42" East, and a chord distance of 165.52 feet; thence Easterly along the arc of said curve 166.64 feet; thence North 22° 10’ 29" East, 110.00 feet to a point on a non- tangent curve to the right having a radius of 525.00 feet, a central angle of 08° 26’ 30", a chord bearing of South 63° 36’ 16" East, and a chord distance of 77.28 feet; thence Southeasterly along the arc of said curve 77.35 feet to the Point of Reverse Curvature of a curve to the left having a radius of 75.00 feet, a central angle of 68° 08’ 29", a chord bearing of North 86° 32’ 44" East, and a chord distance of 84.03 feet; thence Easterly along the arc of said curve 89.20 feet to the Point of Tangency; thence North 52° 28’ 30" East, 253.82 feet to the Point of Curvature of a curve to the left having a radius of 190.00 feet, a central angle of 50° 43’ 43", a chord bearing of North 27° 06’ 38" East, and a chord distance of 162.78 feet; thence Northeasterly along the arc of said curve 168.22 feet to the Point of Reverse Curvature of a curve to the right having a radius of 570.00 feet, a central angle of 44° 08’ 04", a chord bearing of North 23° 48’ 49" East, and a chord distance of 428.29 feet; thence Northeasterly along the arc of said curve 439.07 feet to the Point of Reverse Curvature of a curve to the left having a radius of 190.00 feet, a central angle of 46° 10’ 28", a chord bearing of North 22° 47’ 36" East, and a chord distance of 149.01 feet; thence Northeasterly along the arc of said curve 153.12 feet to the Point of Tangency; thence North 00° 17’ 38" West, 1028.61 feet; thence North 89° 42’ 22" East, 110.00 feet; thence North 00° 17’ 38" West, 227.36 feet to the Point of Curvature of a curve to the right having a radius of 765.00 feet, a central angle of 16° 36’ 46", a chord bearing of North 08° 00’ 46" East, and a chord distance of 221.04 feet; thence Northerly along the arc of said curve
221.81 feet to the Point of Tangency; thence North 16° 19’ 09" East, 130.77 feet to the Point of Curvature of a curve to the left having a radius of 735.00 feet, a central angle of 16° 36’ 46", a chord bearing of North 08° 00’ 46" East, and a chord distance of 212.37 feet; thence Northerly along the arc of said curve 213.11 feet to the Point of Tangency; thence North 00° 17’ 38" West,
261.99 feet to the Point of Curvature of a curve to the left having a radius of
735.00 feet, a central angle of 17° 08’ 25", a chord bearing of North 08° 51’ 50" West, and a chord distance of 219.06 feet; thence Northerly along the arc

of said curve 219.88 feet to the Point of Reverse Curvature of a curve to the right having a radius of 765.00 feet, a central angle of 20° 20’ 45", a chord bearing of North 07° 15’ 41" West, and a chord distance of 270.23 feet; thence Northerly along the arc of said curve 271.65 feet; thence North 82° 39’ 39" West, 100.26 feet to a point on a non- tangent curve to the right having a radius of 865.00 feet, a central angle of 15° 30’ 18", a chord bearing of North 11° 10’ 36" East, and a chord distance of 233.37 feet; thence Northerly along the arc of said curve 234.08 feet to the Point of Reverse Curvature of a curve to the left having a radius of 495.00 feet, a central angle of 19° 47’ 35", a chord bearing of North 09° 01’ 58" East, and a chord distance of 170.15 feet; thence Northerly along the arc of said curve 171.00 feet to the Point of Tangency; thence North 00° 51’ 50" West, 205.00 feet; thence North 08° 26’ 30" West, 77.14 feet to the Point of Beginning. LESS that part of LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 thru 21, Public Records of Polk County, Florida.

(part of Parcel ID # 26-29-24-690600-009770)

TRACT 6 - GOLF COURSE
(Lake Ashton Golf Club II, Ltd., a Florida limited partnership)

A parcel of land being a portion of the South 1/2 of Section 24, Township 29 South, Range 26 East, and the North 365.00 feet of the North 1/2 of Section 25, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; South 00° 51’ 50" East, along the East line of said Section 24, a distance of 2651.56 feet; thence South 00° 17’ 38" East, along said East line, 1373.63 feet; thence South 00° 18’ 45" East, along said East line, 1111.64 feet to the Point of Beginning; thence continue South 00° 18’ 45" East, along said East line, 261.81 feet to the Northeast corner of said Section 25; thence South 00° 15’ 11" East, along the East line of said Section 25 a distance of 365.00 feet to the South line of said North 365.00 feet of the North 1/2 of Section 25; thence South 89° 35’ 19" West, along said South line, 3097.34 feet to the Easterly maintained right-of- way line of County Road 653 (Rattlesnake Road); thence along said Easterly maintained right-of-way line the following nineteen (19) courses: (1) thence North 28° 04’ 16" West, 33.91 feet; (2) thence North 27° 36’ 46" West, 100.00
feet; (3) thence North 27° 02’ 24" West, 100.00 feet; (4) thence North 28° 11’
09" West, 100.00 feet; (5) thence North 26° 55’ 31" West, 100.00 feet; (6)
thence North 27° 33’ 20" West, 100.00 feet; (7) thence North 27° 36’ 46" West,
100.00 feet; (8) thence North 27° 33’ 20" West, 100.00 feet; (9) thence North 27° 40’ 13" West, 100.00 feet; (10) thence North 27° 33’ 20" West, 100.00 feet;
(11) thence North 27° 33’ 20" West, 100.00 feet; (12) thence North 27° 33’ 20" West, 100.00 feet; (13) thence North 28° 07’ 43" West, 100.00 feet; (14) thence North 27° 02’ 24" West, 100.00 feet; (15) thence North 27° 36’ 46" West, 100.00 feet; (16) thence North 27° 09’ 16" West, 100.00 feet; (17) thence North 27° 26’ 27" West, 100.00 feet; (18) thence North 27° 40’ 13" West, 100.00 feet;
(19) thence North 27° 33’ 20" West, 20.38 feet; thence North 62° 26’ 40" East,
153.13 feet to a point on a non-tangent curve to the right having a radius of
250.00 feet, a central angle of 07° 02’ 19", a chord bearing of North 65° 57’ 40" East, and a chord distance of 30.69 feet; thence Northeasterly along the arc of said curve 30.71 feet to a point on a non-tangent curve to the left having a radius of 2537.25 feet, a central angle of 09° 04’ 42", a chord bearing of North 65° 12’ 48" East, and a chord distance of 401.60 feet; thence Northeasterly along the arc of said curve 402.02 feet; thence North 59° 45’ 49" East, 208.82 feet to the Point of Curvature of a curve to the right having a

radius of 476.00 feet, a central angle of 47° 38’ 45", a chord bearing of North 83° 35’ 11" East, and a chord distance of 384.52 feet; thence Easterly along the arc of said curve 395.83 feet to the Point of Reverse curvature of a curve to the left having a radius of 774.00 feet, a central angle of 31° 17’ 36", a chord bearing of South 88° 14’ 14" East, and a chord distance of 417.50 feet; thence Easterly along the arc of said curve 422.74 feet to the Point of Tangency; thence North 76° 06’ 57" East, 44.62 feet to the Point of Curvature of a curve to the right having a radius of 35.00 feet, a central angle of 86° 16’ 49", a chord bearing of South 60° 44’ 38" East, and a chord distance of 47.87 feet; thence along the arc of said curve 52.71 feet to the Point of Tangency; thence South 17° 36’ 13" East, 232.37 feet to the Point of Curvature of a curve to the left having a radius of 515.00 feet, a central angle of 09° 31’ 52", a chord bearing of South 22° 22’ 09" East, and a chord distance of 85.57 feet; thence Southeasterly along the arc of said curve 85.67 feet to the Point of Reverse Curvature of a curve to the right having a radius of 35.00 feet, a central angle of 50° 13’ 22", a chord bearing of South 02° 01’ 24" East, and a chord distance of 29.71 feet; thence Southerly along the arc of said curve 30.68 feet; thence North 32° 21’ 02" West, 93.82 feet; thence North 23° 33’ 57" West, 136.84 feet to the Point of Curvature of a curve to the left having a radius of 145.00 feet, a central angle of 92° 16’ 35", a chord bearing of North 69° 42’ 15" West, and a chord distance of 209.09 feet; thence Northwesterly along the arc of said curve 233.53 feet; thence South 24° 23’ 35" East, 100.10 feet to a point on a non-tangent curve to the left having a radius of 45.00 feet, a central angle of 32° 13’ 32", a chord bearing of South 44° 49’ 13" West, and a chord distance of
24.98 feet; thence Southwesterly along the arc of said curve 25.31 feet to the Point of Tangency; thence South 28° 42’ 26" West, 175.15 feet; thence North 61° 17’ 34" West, 267.92 feet to the Point of Curvature of a curve to the left having a radius of 375.00 feet, a central angle of 56° 09’ 01", a chord bearing of North 89° 22’ 04" West, and a chord distance of 352.97 feet; thence Westerly along the arc of said curve 367.50 feet to the Point of Tangency; thence South 62° 33’ 33" West, 456.50 feet to the Point of Curvature of a curve to the left having a radius of 145.00 feet, a central angle of 90° 06’ 53", a chord bearing of South 17° 30’ 06" West, and a chord distance of 205.27 feet; thence Southerly along the arc of said curve 228.06 feet to the Point of Tangency; thence South 27° 33’ 20" East, 1241.46 feet to the Point of Curvature of a curve to the left having a radius of 165.00 feet, a central angle of 62° 51’ 21", a chord bearing of South 58° 59’ 00" East, and a chord distance of 172.07 feet; thence Southeasterly along the arc of said curve 181.01 feet to the Point of Tangency; thence North 89° 35’ 19" East, 515.80 feet to the Point of tangent of a curve to the left having a radius of 145.00 feet, a central angle of 198° 19’ 41", a chord bearing of North 09° 34’ 30" West, and a chord distance of 286.30 feet; thence Northerly along the arc of said curve 501.91 feet to the Point of Tangency; thence South 71° 15’ 40" West, 167.42 feet; thence South 89° 35’ 19" West, 13.10 feet; thence North 27° 33’ 20" West, 355.65 feet to the Point of Curvature of a curve to the right having a radius of 300.00 feet, a central angle of 56° 15’ 46", a chord bearing of North 00° 34’ 33" East, and a chord distance of 282.90 feet; thence Northerly along the arc of said curve 294.59 feet to the Point of Tangency; thence North 28° 42’ 26" East, 199.62 feet to a point on a non-tangent curve to the left having a radius of 645.00 feet, a central angle of 24° 00’ 25", a chord bearing of South 83° 12’ 59" East, and a chord distance of 268.28 feet; thence Easterly along the arc of said curve
270.25 feet to the Point of Tangency; thence South 84° 46’ 39" East, 174.06 feet to the Point of Curvature of a curve to the left having a radius of 150.00 feet, a central angle of 147° 32’ 39", a chord bearing of North 21° 27’ 02" East, and a chord distance of 288.05 feet; thence Northerly along the arc of said curve 386.27 feet to the Point of Compound Curvature of a curve to the left having a radius of 615.00 feet, a central angle of 38° 30’ 36", a chord

bearing of South 71° 34’ 36" East, and a chord distance of 405.62 feet; thence Easterly along the arc of said curve 413.36 feet to the Point of Tangency; thence North 89° 10’ 06" East, 23.93 feet; thence North 00° 49’ 54" West, 100.00 feet; thence North 89° 10’ 06" East, 457.71 feet to the Point of Curvature of a curve to the right having a radius of 385.00 feet, a central angle of 31° 26’ 53", a chord bearing of South 75° 06’ 28" East, and a chord distance of 208.67 feet; thence Easterly along the arc of said curve 211.32 feet to the Point of Reverse curvature of a curve to the left having a radius of 215.00 feet, a central angle of 17° 47’ 24", a chord bearing of South 68° 16’ 43" East, and a chord distance of 66.49 feet; thence Southeasterly along the arc of said curve
66.76 feet to the Point of Reverse curvature of a curve to the right having a radius of 35.00 feet, a central angle of 48° 35’ 50", a chord bearing of South 52° 52’ 30" East, and a chord distance of 28.80 feet; thence Southeasterly along the arc of said curve 29.69 feet to the Point of Tangency; thence South 28° 34’ 35" East, 2.01 feet; thence South 61° 25’ 25" West, 110.00 feet; thence South 28° 34’ 35" East, 240.19 feet to the Point of curvature of a curve to the left having a radius of 610.00 feet, a central angle of 61° 55’ 46", a chord bearing of South 59° 32’ 28" East, and a chord distance of 627.70 feet; thence Southeasterly along the arc of said curve 659.33 feet to the Point of Tangency; thence North 89° 29’ 39" East, 247.76 feet; thence North 89° 29’ 39" East, 70.00 feet; thence South 72° 24’ 55" East, 101.88 feet to the Point of Beginning. LESS that part of LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages
11 thru 21, Public Records of Polk County, Florida.

(part of Parcel ID # 26-29-24-690599-008780)

LESS AND EXCEPT those certain parcels of land conveyed to Ashton Golf-Eagle’s Nest, LLC, a Florida limited liability company, by virtue of Special Warranty Deed recorded December 29, 2017, in Official Records Book 10355, Page 467, Public Records of Polk County, Florida, described as follows:

A portion of Polk County Property Appraiser Parcel Identification Number: 26- 29-24-690596-000120; 26-29-24-690596-003780; and 26-29-24-690596-003630.

Lot 12, as recorded in LAKE ASHTON WEST PHASE I, Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida
ALSO LESS AND EXCEPT PARCEL 3:
A parcel of land being a portion of TRACT "GC-2" (GOLF COURSE), recorded in LAKE ASHTON WEST PHASE I, Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, described as follows:
BEGIN at the Northeast corner of said TRACT “GC-2”; thence South 00° 51’ 50” East, along the East line of said TRACT “GC-2”, 161.47 feet; thence North 89° 59’ 03” West, 40.04 feet to a point on a non-tangent curve to the right, having a radius of 25.00 feet, a central angle of 42° 58’ 00”, a chord bearing of South 68° 34’ 55” West, and a chord distance of 18.31 feet; thence along the arc of said curve, 18.75 feet; thence North 89° 57’ 43” West, 105.14 feet to the Point of Curvature of a curve to the left, having a radius of 25.00 feet, a central angle of 63° 07’ 14”, a chord bearing of South 57° 32’ 48” West, and a chord distance of 26.17 feet; thence along the arc of said curve, 27.54 feet; thence South 20° 25’ 23” West, 18.31 feet to the Easterly right-of-way of Pebble Beach Boulevard, also being a point on a non-tangent curve to the right, having a

radius of 735.00 feet, a central angle of 12° 13’ 34”, a chord bearing of North 03° 46’ 19” West, and a chord distance of 156.54 feet; thence along the arc of said curve and said Easterly right-of-way, 156.84 feet to a Point of Compound Curvature of a curve to the right, having a radius of 45.00 feet, a central angle of 87° 41’ 50”, a chord bearing of North 46° 11’ 22” East, and a chord length of 62.35 feet; thence along the arc of said curve and said Easterly right-of-way, 68.88 feet to the South right-of-way of Mulligan Lane; thence South 89° 57’ 43” East, along said South right-of-way, 153.58 feet to the POINT OF BEGINNING.
ALSO LESS AND EXCEPT RIGHT-OF-WAY “A” being described as follows:
A parcel of land being a portion of Tract “GC-2”, LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:

BEGIN at the Northeast corner of said Tract “GC-2”; thence South 00° 51’ 50" East, along the East line of said Tract “GC-2”, a distance of 23.84 feet; thence North 73° 10’ 06" West, 82.48 feet to the North line of said Tract “GC-2”; thence South 89° 57’ 43" East, along said North line, 78.58 feet to the POINT OF BEGINNING.

ALSO LESS AND EXCEPT WETLAND 7

A parcel of land being a portion of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 1353.07 feet; thence South 89° 08’ 10" West, 296.38 feet to the Point of Beginning; thence North 49°
18’ 42" West, 59.66 feet; thence North 74° 11’ 37" West, 67.26 feet; thence
North 45° 34’ 24" West, 79.64 feet; thence North 72° 50’ 37" West, 63.23 feet;
thence North 12° 24’ 18" East, 37.06 feet; thence North 30° 41’ 33" East, 133.44
feet; thence North 10° 36’ 23" East, 54.39 feet; thence North 20° 31’ 06" West,
104.26 feet; thence North 57° 39’ 24" West, 64.87 feet; thence North 70° 12’ 46" West, 119.87 feet; thence North 47° 09’ 19" East, 22.66 feet; thence North 09° 31’ 32" West, 12.34 feet; thence South 88° 15’ 37" West, 128.19 feet; thence North 87° 20’ 56" West, 183.98 feet; thence South 31° 45’ 00" West, 62.41 feet; thence South 60° 45’ 11" West, 117.39 feet; thence South 39° 35’ 07" West, 56.69 feet; thence South 00° 56’ 57" West, 143.61 feet; thence South 30° 35’ 29" East,
120.94 feet; thence South 49° 51’ 19" East, 53.00 feet; thence South 06° 00’ 38" East, 61.02 feet; thence South 23° 50’ 51" West, 216.53 feet; thence South 56° 39’ 44" West, 140.12 feet; thence South 82° 23’ 51" West, 67.58 feet; thence North 84° 07’ 20" West, 69.16 feet; thence South 85° 19’ 58" West, 271.28 feet; thence North 84° 24’ 58" West, 108.72 feet; thence North 69° 08’ 11" West, 85.09 feet; thence North 28° 47’ 30" West, 166.46 feet; thence North 50° 43’ 23" West,
86.42 feet; thence North 86° 19’ 25" West, 109.45 feet; thence South 73° 21’ 17" West, 173.49 feet; thence South 88° 49’ 07" West, 162.38 feet; thence South 88° 45’ 33" West, 110.36 feet; thence South 84° 22’ 27" West, 56.54 feet; thence North 89° 04’ 05" West, 67.45 feet; thence South 83° 01’ 49" West, 39.69 feet to the East line of the Southeast 1/4 of the Northwest 1/4 of said Section 24; thence South 00° 44’ 28" East, along said East line, 194.44 feet to the South line of the North 200.00 feet of said Southeast 1/4 of the Northwest 1/4; thence South 89° 34’ 26" West, along said South line, 748.21 feet; thence South 62° 21’ 56" West, 57.05 feet; thence South 42° 58’ 01" West, 39.21 feet; thence

South 19° 02’ 10" West, 46.89 feet; thence South 40° 53’ 54" West, 72.29 feet;
thence South 67° 01’ 02" West, 42.18 feet; thence North 42° 48’ 31" West, 96.66
feet; thence North 64° 38’ 42" West, 181.64 feet; thence North 81° 22’ 02" West,
106.42 feet; thence South 87° 27’ 03" West, 42.83 feet; thence South 50° 12’ 42" West, 34.82 feet to the West line of said Southeast 1/4 of the Northwest 1/4; thence South 00° 32’ 14" East, along said West line, 450.29 feet; thence South 18° 32’ 09" East, 39.41 feet; thence North 87° 59’ 52" East, 46.06 feet; thence North 68° 40’ 40" East, 35.71 feet; thence North 75° 22’ 08" East, 230.51 feet; thence North 39° 36’ 56" East, 131.82 feet; thence South 51° 50’ 54" East,
31.30 feet; thence South 26° 53’ 12" East, 224.93 feet; thence South 41° 13’ 37" East, 301.59 feet; thence North 84° 27’ 42" East, 31.03 feet; thence South 43° 59’ 18" East, 111.49 feet; thence South 22° 07’ 24" East, 80.46 feet; thence South 34° 39’ 19" East, 151.07 feet; thence South 54° 10’ 05" East, 128.82 feet; thence North 86° 32’ 20" East, 110.04 feet; thence North 74° 01’ 38" East, 50.80 feet; thence South 61° 43’ 51" East, 117.80 feet; thence South 34° 09’ 21" East,
92.78 feet; thence South 25° 20’ 10" East, 61.16 feet; thence South 06° 03’ 03" East, 73.42 feet; thence South 17° 07’ 26" West, 70.31 feet; thence South 00° 31’ 09" East, 58.18 feet; thence South 19° 31’ 14" East, 87.05 feet; thence South 78° 09’ 33" West, 166.46 feet; thence South 30° 42’ 04" West, 35.70 feet; thence South 30° 46’ 25" East, 101.13 feet; thence North 58° 27’ 57" East,
157.04 feet; thence North 37° 45’ 51" East, 63.79 feet; thence South 64° 05’ 41" East, 90.88 feet; thence South 78° 07’ 27" East, 98.86 feet; thence North 66° 33’ 31" East, 47.05 feet; thence South 87° 18’ 27" East, 63.22 feet; thence South 76° 16’ 37" East, 55.57 feet; thence South 45° 36’ 53" East, 96.07 feet; thence South 44° 47’ 58" West, 38.36 feet; thence South 24° 32’ 59" West, 24.09 feet; thence South 55° 36’ 08" East, 103.19 feet; thence South 17° 07’ 13" West,
31.65 feet; thence South 54° 51’ 21" East, 6.97 feet; thence North 33° 29’ 02" East, 43.77 feet; thence North 28° 47’ 40" East, 64.79 feet; thence South 54° 44’ 20" East, 50.34 feet; thence South 30° 07’ 09" East, 277.08 feet; thence South 06° 31’ 13" East, 86.56 feet; thence South 03° 35’ 08" West, 137.73 feet; thence South 03° 27’ 06" East, 134.94 feet; thence South 27° 42’ 51" East,
154.42 feet; thence South 40° 14’ 25" East, 123.94 feet; thence South 65° 15’ 09" East, 74.22 feet; thence South 50° 37’ 50" East, 78.35 feet; thence South 77° 12’ 38" East, 153.06 feet; thence South 68° 49’ 17" East, 43.83 feet; thence North 51° 52’ 31" East, 77.25 feet; thence North 59° 37’ 56" East, 159.97 feet; thence North 68° 06’ 41" East, 173.23 feet; thence North 60° 29’ 29" East,
100.23 feet; thence North 50° 39’ 08" East, 81.67 feet; thence North 43° 44’ 26" East, 102.26 feet; thence North 32° 44’ 54" East, 84.42 feet; thence North 12° 58’ 08" East, 520.91 feet; thence North 01° 16’ 08" West, 93.02 feet; thence North 11° 24’ 25" West, 167.29 feet; thence North 01° 05’ 33" West, 132.26 feet; thence North 06° 06’ 51" West, 69.55 feet; thence North 13° 00’ 46" East, 49.42 feet; thence North 23° 03’ 44" East, 150.92 feet; thence North 16° 57’ 28" East,
108.87 feet; thence North 32° 02’ 57" East, 146.09 feet; thence North 38° 55’ 57" East, 93.14 feet; thence North 53° 45’ 45" East, 70.94 feet; thence North 14° 09’ 14" East, 132.34 feet; thence North 13° 52’ 46" West, 71.12 feet; thence North 27° 42’ 11" West, 95.88 feet; thence North 05° 11’ 16" West, 59.14 feet; thence North 29° 50’ 54" East, 67.25 feet; thence North 35° 59’ 01" East, 156.37 feet; thence North 23° 20’ 53" East, 51.54 feet; thence North 09° 27’ 56" West,
127.58 feet; thence North 72° 12’ 17" West, 140.42 feet; thence South 73° 38’ 01" West, 88.13 feet; thence North 24° 57’ 54" West, 90.11 feet; thence North 50° 33’ 56" West, 129.72 feet; thence North 13° 57’ 10" East, 44.06 feet; thence North 65° 45’ 27" East, 68.76 feet; thence South 82° 49’ 34" East, 44.01 feet; thence North 52° 00’ 50" East, 57.15 feet; thence North 29° 23’ 52" East, 70.43 feet; thence North 66° 34’ 29" East, 158.31 feet; to the Point of Beginning.

ALSO LESS AND EXCEPT WETLAND 16

A parcel of land being a portion of the Northeast 1/4 of the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 2651.56 feet to the Northeast corner of the South 1/4 of said Section 24; thence South 00° 17’ 38" East, along said East line, 827.45 feet; thence South 89° 42’ 22" West, 2874.95 feet to the Point of Beginning; thence North 33° 45’ 21" West, 60.26 feet; thence South 51° 09’ 32" West, 97.54 feet; thence North 80° 22’ 15" West, 36.98
feet; thence South 54° 03’ 48" West, 495.18 feet; thence North 80° 38’ 27" West,
151.67 feet; thence South 77° 37’ 32" West, 234.41 feet; thence South 66° 23’ 00" West, 79.74 feet; thence North 83° 32’ 33" West, 49.12 feet; thence South 69° 27’ 53" West, 75.73 feet to the West line of said Northeast 1/4 of the Southwest 1/4; thence South 00° 32’ 14" East, along said West line, 80.27 feet; thence North 81° 52’ 27" East, 79.91 feet; thence South 80° 20’ 08" East, 39.01 feet; thence South 48° 26’ 09" East, 25.56 feet; thence North 81° 37’ 45" East,
147.60 feet; thence South 74° 52’ 54" East, 129.18 feet; thence North 48° 15’ 15" East, 57.89 feet; thence North 71° 14’ 36" East, 142.77 feet; thence North 52° 00’ 05" East, 160.21 feet; thence North 60° 26’ 22" East, 303.73 feet; thence North 65° 25’ 15" East, 81.01 feet; thence North 07° 37’ 03" West, 60.52 feet; thence North 55° 24’ 20" East, 91.85 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-22 POND 3

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 1945.05 feet and South 01° 07’ 15" East, 4003.94 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non-tangent curve to the right having a radius of 10.00 feet, a central angle of 81° 55’ 01", a chord bearing of South 62° 10’ 56" East, and a chord distance of 13.11 feet; thence Southeasterly along the arc of said curve 14.30 feet to the Point of Tangency; thence South 21° 13’ 25" East, 167.85 feet; thence South 44° 14’ 50" East, 59.21 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 75° 22’ 22", a chord bearing of South 06° 33’ 39" East, and a chord distance of 24.45 feet; thence Southerly along the arc of said curve 26.31 feet to the Point of Tangency; thence South 31° 07’ 32" West, 15.30 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 76° 24’ 43", a chord bearing of South 69° 19’ 54" West, and a chord distance of 12.37 feet; thence Southwesterly along the arc of said curve 13.34 feet to the Point of Tangency; thence North 72° 27’ 45" West, 60.87 feet; thence North 59° 14’ 21" West, 118.49 feet; thence North 47° 15’ 09" West, 74.66 feet;
thence North 32° 51’ 16" West, 80.85 feet; thence North 16° 50’ 59" West, 34.02 feet to the Point of Curvature of a curve to the right having a radius of 35.00 feet, a central angle of 164° 51’ 27", a chord bearing of North 65° 34’ 44" East, and a chord distance of 69.39 feet; thence Northeasterly along the arc of said curve 100.71 feet to the Point of Tangency; thence South 31° 59’ 32" East,
18.82 feet to the Point of Curvature of a curve to the left having a radius of
20.00 feet, a central angle of 61° 39’ 43", a chord bearing of South 62° 49’ 24" East, and a chord distance of 20.50 feet; thence Southeasterly along the arc of said curve 21.52 feet to the Point of Tangency; thence North 86° 20’ 45" East, 31.92 feet; thence North 76° 51’ 34" East, 49.49 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-24 POND 3A

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2057.92 feet and South 01° 07’ 15" East, 3492.64 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 31° 42’ 45" East, 141.82 feet; thence South
20° 25’ 15" East, 85.19 feet; thence South 06° 49’ 47" East, 61.16 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 100° 02’ 38", a chord bearing of South 43° 11’ 32" West, and a chord distance of 15.33 feet; thence Southwesterly along the arc of said curve
17.46 feet to the Point of Tangency; thence North 86° 47’ 09" West, 70.17 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 71° 20’ 36", a chord bearing of North 51° 06’ 51" West, and a chord distance of 17.49 feet; thence Northwesterly along the arc of said curve
18.68 feet to the Point of Tangency; thence North 15° 26’ 33" West, 64.10 feet; thence North 21° 25’ 26" West, 98.46 feet; thence North 55° 37’ 54" West, 62.77 feet; thence North 71° 56’ 57" West, 15.78 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 73° 31’ 13", a chord bearing of North 35° 11’ 20" West, and a chord distance of 17.95 feet; thence Northwesterly along the arc of said curve 19.25 feet to the Point of Tangency; thence North 01° 34’ 16" East, 49.75 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 103° 21’ 09", a chord bearing of North 53° 14’ 51" East, and a chord distance of
7.85 feet; thence Northeasterly along the arc of said curve 9.02 feet to the Point of Tangency; thence South 75° 04’ 35" East, 60.19 feet; thence North 67° 53’ 58" East, 37.50 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 80° 23’ 16", a chord bearing of South 71° 54’ 23" East, and a chord distance of 12.91 feet; thence Easterly along the arc of said curve 14.03 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-25 POND 3B

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2546.52 feet and South 01° 07’ 15" East, 3260.17 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 54° 40’ 28" East, 181.95 feet to the Point of Curvature of a curve to the left having a radius of 40.00 feet, a central angle of 93° 57’ 57", a chord bearing of North 78° 20’ 33" East, and a chord distance of 58.49 feet; thence Easterly along the arc of said curve 65.60 feet to the Point of Tangency; thence North 31° 21’ 34" East, 37.62 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 94° 58’ 54", a chord bearing of North 78° 51’ 02" East, and a chord distance of 29.49 feet; thence Easterly along the arc of said curve 33.15 feet to the Point of Tangency; thence South 53° 39’ 31" East, 36.93 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 89° 21’ 39", a chord bearing of South 08° 58’ 42" East, and a chord distance of 21.09 feet; thence Southerly along the arc of said curve 23.39 feet to the Point of Tangency; thence South 35° 42’ 08" West, 151.54 feet to the Point of Curvature of a curve to the right having a radius of 30.00 feet, a central angle of 87° 31’ 37", a chord bearing of South 79° 27’ 56" West, and a chord distance of 41.50 feet; thence Westerly along the arc of said curve 45.83 feet to the Point of Tangency; thence North 56° 46’ 15" West, 207.79 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 78° 33’ 43", a chord bearing of North 17° 29’ 23" West, and a chord distance

of 25.32 feet; thence Northerly along the arc of said curve 27.42 feet to the Point of Tangency; thence North 21° 47’ 28" East, 16.49 feet; thence North 24°
25’ 58" West, 12.80 feet; thence North 48° 13’ 28" West, 38.50 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 79° 28’ 29", a chord bearing of North 08° 29’ 14" West, and a chord distance of 12.79 feet; thence Northerly along the arc of said curve 13.87 feet to the Point of Tangency; thence North 31° 15’ 00" East, 19.57 feet to the Point of Curvature of a curve to the right having a radius of 30.00 feet, a central angle of 94° 04’ 31", a chord bearing of North 78° 17’ 16" East, and a chord distance of 43.91 feet; thence Easterly along the arc of said curve 49.26 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-30 POND 15

A parcel of land being a portion of the Northwest 1/4 and the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3605.37 feet and South 01° 07’ 15" East, 2041.47 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 29° 17’ 50" East, 62.01 feet; thence South 41°
02’ 35" East, 374.33 feet; thence South 36° 29’ 30" East, 345.53 feet; thence
South 44° 32’ 49" East, 142.23 feet; thence South 66° 34’ 05" East, 196.56 feet;
thence South 55° 22’ 16" East, 94.93 feet; thence South 24° 28’ 28" East, 47.14 feet; thence South 12° 51’ 05" East, 86.89 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 155° 01’ 38", a chord bearing of South 64° 39’ 44" West, and a chord distance of 19.53 feet; thence Southwesterly along the arc of said curve 27.06 feet to the Point of Tangency; thence North 37° 49’ 27" West, 150.09 feet to the Point of Curvature of a curve to the left having a radius of 10.00 feet, a central angle of 96° 09’ 16", a chord bearing of North 85° 54’ 05" West, and a chord distance of
14.88 feet; thence Westerly along the arc of said curve 16.78 feet to the Point of Tangency; thence South 46° 01’ 17" West, 155.82 feet; thence South 46° 07’ 50" West, 23.06 feet; thence North 66° 17’ 13" West, 14.60 feet; thence North 38° 15’ 59" West, 390.54 feet; thence North 44° 53’ 13" East, 70.17 feet; thence North 15° 42’ 02" West, 17.82 feet; thence North 33° 40’ 54" West, 218.29 feet; thence North 41° 48’ 16" West, 306.61 feet to the Point of Curvature of a curve to the left having a radius of 200.00 feet, a central angle of 70° 18’ 11", a chord bearing of North 76° 57’ 21" West, and a chord distance of 230.30 feet; thence Westerly along the arc of said curve 245.40 feet to the Point of Tangency; thence South 67° 53’ 33" West, 204.71 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 98° 32’ 50", a chord bearing of North 62° 50’ 02" West, and a chord distance of 15.16 feet; thence Northwesterly along the arc of said curve 17.20 feet to the Point of Tangency; thence North 13° 33’ 37" West, 1.32 feet to the Point of Curvature of a curve to the right having a radius of 100.00 feet, a central angle of 83° 07’ 45", a chord bearing of North 28° 00’ 16" East, and a chord distance of 132.69 feet; thence Northeasterly along the arc of said curve 145.09 feet to the Point of Tangency; thence North 69° 34’ 08" East, 288.09 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 81° 08’ 02", a chord bearing of South 69° 51’ 51" East, and a chord distance of
6.50 feet; thence Easterly along the arc of said curve 7.08 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-32 POND 17

A parcel of land being a portion of the Northwest 1/4 and the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3900.53 feet and South 01° 07’ 15" East, 2598.55 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence North 88° 03’ 56" East, 95.37 feet; thence South 84° 25’ 04" East, 88.97 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 46° 14’ 22", a chord bearing of South 61° 17’ 53" East, and a chord distance of 15.71 feet; thence Southeasterly along the arc of said curve 16.14 feet to the Point of Tangency; thence South 38° 10’ 42" East, 132.87 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 117° 11’ 33", a chord bearing of South 20° 25’ 05" West, and a chord distance of 25.61 feet; thence Southerly along the arc of said curve 30.68 feet to the Point of Tangency; thence South 79° 00’ 51" West, 507.55 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 94° 16’ 06", a chord bearing of North 53° 51’ 05" West, and a chord distance of 7.33 feet; thence Northwesterly along the arc of said curve 8.23 feet to the Point of Tangency; thence North 06° 43’ 02" West, 53.75 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 78° 16’ 06", a chord bearing of North 32° 25’ 01" East, and a chord distance of
6.31 feet; thence Northeasterly along the arc of said curve 6.83 feet to the Point of Tangency; thence North 71° 33’ 04" East, 45.87 feet; thence North 79° 59’ 15" East, 159.65 feet to the Point of Curvature of a curve to the left having a radius of 20.00 feet, a central angle of 80° 11’ 57", a chord bearing of North 39° 53’ 16" East, and a chord distance of 25.76 feet; thence Northeasterly along the arc of said curve 27.99 feet to the Point of Tangency; thence North 00° 12’ 43" West, 93.00 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 88° 16’ 38", a chord bearing of North 43° 55’ 37" East, and a chord distance of 27.86 feet; thence Northeasterly along the arc of said curve 30.81 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-33 POND 18

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3124.69 feet and South 01° 07’ 15" East, 3324.61 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non-tangent curve to the right having a radius of 11.25 feet, a central angle of 164° 37’ 56", a chord bearing of South 42° 43’ 14" East, and a chord distance of 22.30 feet; thence Southeasterly along the arc of said curve 32.33 feet; thence South 60° 16’ 49" West, 57.71
feet; thence South 59° 17’ 51" West, 36.53 feet; thence South 68° 41’ 30" West,
275.07 feet to the Point of Curvature of a curve to the left having a radius of
10.00 feet, a central angle of 87° 42’ 24", a chord bearing of South 24° 50’ 18" West, and a chord distance of 13.86 feet; thence Southwesterly along the arc of said curve 15.31 feet to the Point of Tangency; thence South 19° 00’ 54" East, 72.03 feet; thence South 13° 29’ 21" West, 12.91 feet; thence South 67° 50’ 40" West, 226.53 feet; thence South 78° 50’ 16" West, 216.26 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 85° 50’ 56", a chord bearing of North 58° 14’ 17" West, and a chord distance of 13.62 feet; thence Northwesterly along the arc of said curve
14.98 feet to the Point of Tangency; thence North 15° 18’ 49" West, 40.28 feet to the Point of Curvature of a curve to the left having a radius of 10.00 feet,

a central angle of 65° 18’ 46", a chord bearing of North 47° 58’ 12" West, and a chord distance of 10.79 feet; thence Northwesterly along the arc of said curve
11.40 feet to the Point of Tangency; thence North 80° 37’ 35" West, 97.86 feet; thence North 68° 53’ 47" West, 79.85 feet to the Point of Curvature of a curve to the left having a radius of 40.00 feet, a central angle of 46° 11’ 07", a chord bearing of South 88° 00’ 39" West, and a chord distance of 31.38 feet; thence Westerly along the arc of said curve 32.24 feet to the Point of Tangency; thence South 64° 55’ 06" West, 33.03 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 81° 09’ 42", a chord bearing of North 74° 30’ 03" West, and a chord distance of 26.02 feet; thence Westerly along the arc of said curve 28.33 feet to the Point of Tangency; thence North 33° 55’ 12" West, 144.09 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 97° 28’ 34", a chord bearing of North 14° 49’ 04" East, and a chord distance of 30.07 feet; thence Northerly along the arc of said curve 34.03 feet to the Point of Tangency; thence North 63° 33’ 21" East, 57.37 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 74° 38’ 50", a chord bearing of South 79° 07’ 14" East, and a chord distance of 12.13 feet; thence Easterly along the arc of said curve 13.03 feet to the Point of Tangency; thence South 41° 47’ 49" East, 100.86 feet; thence South 56° 39’ 46" East, 70.29 feet; thence South 70° 51’ 25" East, 116.28 feet; thence North 87° 54’ 53" East,
115.55 feet; thence North 70° 32’ 14" East, 449.74 feet; thence North 67° 50’ 31" East, 185.01 feet; thence North 57° 50’ 54" East, 94.98 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-36 POND 19

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2810.24 feet and South 01° 07’ 15" East, 3440.45 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 69° 29’ 06" East, 99.30 feet; thence South 57° 15’ 48" East, 356.58 feet to the Point of Curvature of a curve to the right having a radius of 25.00 feet, a central angle of 135° 02’ 22", a chord bearing of South 10° 15’ 23" West, and a chord distance of 46.20 feet; thence Southerly along the arc of said curve 58.92 feet to the Point of Tangency; thence South 77° 46’ 34" West, 138.29 feet; thence North 55° 36’ 19" West, 21.01 feet; thence
North 12° 20’ 39" West, 47.87 feet; thence North 70° 00’ 39" West, 304.52 feet;
thence North 19° 25’ 49" West, 16.31 feet; thence North 15° 19’ 14" East, 40.22 feet; thence North 34° 36’ 07" East, 103.85 feet to the Point of Beginning.

ALSO LESS AND EXCEPT from Tract 3 those certain parcels of land conveyed to Lake Ashton II Community Development District, a Florida community development district, by virtue of Quit Claim Deed recorded February 7, 2014 in Official Records Book 9172, Page 960, of the Public Records of Polk County, Florida, being more particularly described as follows:

LG-27

A parcel of land being a portion of Tract 3 - Golf Course as described in Official Records Book 6126, Page 7, Public Records of Polk County, Florida being in the Southeast 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 2651.56 feet to the

Northeast corner of the Southeast 1/4 of said Section 24; thence South 00° 17’ 38" East, along said East line, 1324.60 feet; thence South 89° 42’ 22" West, 2000.47 feet to the Easterly line of Clubhouse, Road and Recreation Area as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida; thence North 15° 59’ 51" West, along said Easterly line, 361.43
feet; thence North 51° 55’ 47" West, along said Easterly line, 79.55 feet;
thence North 00° 00’ 00" East, along said Easterly line, 125.00 feet; thence North 90° 00’ 00" West, along said Easterly line, 119.69 feet to the Westerly line of said Clubhouse, Road and Recreation Area and the Westerly line of said Tract 3 - Golf Course; thence South 33° 19’ 21" West, along said Westerly line,
55.72 feet to the Point of Beginning; thence continue South 33° 19’ 21" West, along said Westerly line, 68.88 feet; thence North 56° 40’ 39" West, along said Westerly line, 7.41 feet; thence North 39° 27’ 40" East, 69.27 feet to the Point of Beginning.

AND LESS AND EXCEPT LG-31
A parcel of land being a portion of Tract 3 - Golf Course as described in Official Records Book 6126, Page 7, Public Records of Polk County, Florida being in the Southeast 1/4 of the Northwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of Tract "CDD-3", LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida; thence South 89° 34’ 26” West, along the Westerly line of said plat of LAKE ASHTON WEST PHASE I, a distance of 121.00 feet; thence South 00° 44’ 28" East, along said Westerly line, 200.00 feet to the South line of the North
200.00 feet of said Southeast 1/4 of the Northwest 1/4, also being the North line of said Tract 3 - Golf Course; thence South 89° 34’ 26" West, along said line, 748.21 feet to the Point of Beginning; thence continue South 89° 34’ 26" West, along said South line, 583.56 feet to the West line of said Southeast 1/4 of the Northwest 1/4, also the West line of said Tract 3 - Golf Course; thence South 00° 32’ 14" East, along said West line, 25.77 feet; thence North 50° 12’ 42" East, 34.82 feet; thence North 87° 27’ 03" East, 42.83 feet; thence South 81° 22’ 02" East, 106.42 feet; thence South 64° 38’ 42" East, 181.64 feet; thence South 42° 48’ 31" East, 96.66 feet; thence North 67° 01’ 02" East, 42.18 feet; thence North 40° 53’ 54" East, 72.29 feet; thence North 19° 02’ 10" East,
46.89 feet; thence North 42° 58’ 01" East, 39.21 feet; thence North 62° 21’ 56" East, 57.05 feet to the Point of Beginning.

ALSO LESS AND EXCEPT WETLAND 14

A parcel of land being a portion of Section 24 and 25, Township 29 South, Range
26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of Section 24, Township 29 South, Range 26 East, Polk County, Florida; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 2651.56 feet to the Northeast corner of the South 1/4 of said Section 24; thence South 00° 17’ 38" East, along said East line, 1373.63 feet; thence South 00° 18’ 45" East, along said East line, 1373.45 feet to the Northeast corner of said Section 25; thence South 89° 35’ 19" West,
838.80 feet to the Point of Beginning; thence North 28° 19’ 18" East, 42.61 feet; thence North 42° 27’ 30" West, 293.42 feet; thence North 24° 10’ 44" West,
38.50 feet; thence North 05° 37’ 32" East, 254.55 feet; thence North 07° 22’ 25" West, 122.83 feet; thence North 26° 48’ 05" West, 286.91 feet; thence South

89° 26’ 26" West, 503.08 feet; thence South 42° 36’ 42" West, 128.58 feet;
thence South 33° 10’ 28" West, 164.05 feet; thence South 56° 20’ 04" West,
246.93 feet; thence North 86° 15’ 52" West, 155.75 feet; thence North 58° 02’ 03" West, 176.00 feet; thence North 85° 34’ 55" West, 50.81 feet; thence South 67° 03’ 00" West, 194.61 feet; thence South 25° 16’ 05" West, 93.59 feet; thence South 01° 09’ 21" East, 88.25 feet; thence South 28° 58’ 54" East, 69.80 feet; thence South 42° 09’ 12" East, 53.21 feet; thence South 67° 39’ 14" East, 312.25 feet; thence South 06° 03’ 12" East, 164.48 feet; thence South 24° 54’ 24" East,
270.24 feet; thence South 54° 06’ 40" East, 80.60 feet; thence South 80° 42’ 01" East, 174.41 feet; thence North 86° 19’ 33" East, 150.31 feet; thence North 59° 42’ 52" East, 228.74 feet; thence North 88° 55’ 15" East, 329.41 feet; thence South 80° 05’ 39" East, 138.00 feet; thence North 68° 45’ 26" East,
108.53 feet; thence North 48° 27’ 34" East, 110.52 feet; thence North 77° 11’ 45" East, 45.37 feet; thence North 32° 24’ 08" East, 11.14 feet; thence North 39° 39’ 09" West, 31.81 feet; thence North 28° 19’ 18" East, 38.89 feet to the Point of Beginning.

ALSO LESS AND EXCEPT POND 1

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2083.56 feet and South 01° 07’ 15" East, 4440.82 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 75° 39’ 40" East, 263.68 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 118° 16’ 58", a chord bearing of South 16° 31’ 11" East, and a chord distance of 34.34 feet; thence Southerly along the arc of said curve 41.29 feet to the Point of Tangency; thence South 42° 37’ 18" West, 225.78 feet to the Point of Curvature of a curve to the right having a radius of 220.00 feet, a central angle of 69° 00’ 27", a chord bearing of South 77° 07’ 31" West, and a chord distance of 249.24 feet; thence Westerly along the arc of said curve 264.97 feet; thence North 70° 20’ 29" West, 172.15 feet to the Point of Curvature of a curve to the left having a radius of 229.54 feet, a central angle of 182° 53’ 05", a chord bearing of South 18° 12’ 58" West, and a chord distance of 458.94 feet; thence Southerly along the arc of said curve 732.69 feet; thence South 71° 25’ 23" East, 164.88 feet; thence South 27° 54’ 38" East, 71.14 feet to the Point of Curvature of a curve to the right having a radius of 30.00 feet, a central angle of 134° 11’ 52", a chord bearing of South 39° 11’ 18" West, and a chord distance of 55.27 feet; thence Southwesterly along the arc of said curve
70.27 feet to the Point of Tangency; thence North 73° 42’ 46" West, 35.08 feet; thence South 83° 47’ 35" West, 56.02 feet; thence South 71° 56’ 26" West, 165.28 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 80° 35’ 15", a chord bearing of North 67° 45’ 57" West, and a chord distance of 25.87 feet; thence Northwesterly along the arc of said curve 28.13 feet to the Point of Tangency; thence North 27° 28’ 20" West, 377.15 feet to the Point of Curvature of a curve to the right having a radius of 200.00 feet, a central angle of 56° 43’ 07", a chord bearing of North 00° 53’ 14" East, and a chord distance of 190.00 feet; thence Northerly along the arc of said curve 197.99 feet to the Point of Tangency; thence North 29° 14’ 47" East,
212.24 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 65° 24’ 48", a chord bearing of North 61° 57’ 12" East, and a chord distance of 21.61 feet; thence Northeasterly along the arc of said curve 22.83 feet to the Point of Tangency; thence South 85° 20’ 24" East, 425.72 feet to the Point of Curvature of a curve to the left having a radius of 150.00 feet, a central angle of 93° 12’ 38", a chord bearing of North 48° 03’ 17" East, and a chord distance of 217.99 feet; thence Northeasterly

along the arc of said curve 244.02 feet to the Point of Tangency; thence North 01° 26’ 58" East, 53.34 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 102° 53’ 22", a chord bearing of North 52° 53’ 39" East, and a chord distance of 15.64 feet; thence Northeasterly along the arc of said curve 17.96 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-39 POND 4

A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2560.98 feet and South 01° 07’ 15" East, 3844.46 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 43° 19’ 00" East, 30.26 feet; thence South 18° 09’ 45" East, 91.31 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 47° 25’ 26", a chord bearing of South 05° 32’ 58" West, and a chord distance of 16.09 feet; thence Southerly along the arc of said curve 16.55 feet to the Point of Tangency; thence South 29° 15’ 41" West, 154.98 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 89° 51’ 15", a chord bearing of South 74° 11’ 18" West, and a chord distance of 14.12 feet; thence Westerly along the arc of said curve 15.68 feet to the Point of Tangency; thence North 60° 53’ 04" West, 249.32 feet to the Point of Curvature of a curve to the left having a radius of 400.00 feet, a central angle of 38° 27’ 20", a chord bearing of North 80° 06’ 44" West, and a chord distance of 263.46 feet; thence Westerly along the arc of said curve 268.47 feet to the Point of Tangency; thence South 80° 39’ 36" West, 20.31 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 99° 04’ 59", a chord bearing of North 49° 47’ 55" West, and a chord distance of 15.22 feet; thence Northwesterly along the arc of said curve 17.29 feet to the Point of Tangency; thence North 00° 15’ 25" West, 117.38 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 80° 35’ 54", a chord bearing of North 40° 02’ 32" East, and a chord distance of 12.94 feet; thence Northeasterly along the arc of said curve 14.07 feet to the Point of Tangency; thence North 80° 20’ 29" East, 103.22 feet to the Point of Curvature of a curve to the right having a radius of 200.00 feet, a central angle of 21° 11’ 47", a chord bearing of South 89° 03’ 38" East, and a chord distance of
73.57 feet; thence Easterly along the arc of said curve 73.99 feet to the Point of Tangency; thence South 78° 27’ 44" East, 72.69 feet; thence South 76° 16’ 56" East, 116.21 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 68° 58’ 48", a chord bearing of South 41° 47’ 32" East, and a chord distance of 11.33 feet; thence Southeasterly along the arc of said curve 12.04 feet to the Point of Tangency; thence South 07° 18’ 08" East, 23.45 feet; thence South 42° 40’ 01" East, 25.90 feet; thence South 83° 15’ 08" East, 75.24 feet to the Point of curvature of a curve to the left having a radius of 25.00 feet, a central angle of 80° 00’ 05", a chord bearing of North 56° 44’ 50" East, and a chord distance of 32.14 feet; thence Northeasterly along the arc of said curve 34.91 feet to the Point of Tangency; thence North 16° 44’ 47" East, 25.32 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 73° 08’ 53", a chord bearing of North 53° 19’ 13" East, and a chord distance of 11.92 feet; thence Northeasterly along the arc of said curve 12.77 feet to the Point of Tangency; thence North 89° 53’ 40" East, 36.94 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-40 POND 5

A parcel of land being a portion of the Southeast 1/4 of the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3739.85 feet and South 01° 07’ 15" East, 4332.79 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non-tangent curve to the right having a radius of 20.00 feet, a central angle of 87° 27’ 11", a chord bearing of South 71° 43’ 37" East, and a chord distance of 27.65 feet; thence Easterly along the arc of said curve 30.53 feet to the Point of Tangency; thence South 28° 00’ 02" East, 360.03 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 94° 42’ 26", a chord bearing of South 19° 21’ 12" West, and a chord distance of 29.42 feet; thence Southerly along the arc of said curve 33.06 feet to the Point of Tangency; thence South 66° 42’ 25" West, 58.40 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 85° 16’ 41", a chord bearing of North 70° 39’ 15" West, and a chord distance of 27.10 feet; thence Westerly along the arc of said curve 29.77 feet to the Point of Tangency; thence North 28° 00’ 55" West, 357.84 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 92° 33’ 42", a chord bearing of North 18° 15’ 57" East, and a chord distance of 28.91 feet; thence Northerly along the arc of said curve 32.31 feet to the Point of Tangency; thence North 64° 32’ 48" East, 58.35 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-41 POND 1B

A parcel of land being a portion of the Southeast 1/4 of the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3363.66 feet and South 01° 07’ 15" East, 5033.11 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 27° 17’ 39" East, 229.45 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 93° 23’ 35", a chord bearing of South 19° 24’ 08" West, and a chord distance of 29.11 feet; thence Southerly along the arc of said curve 32.60 feet to the Point of Tangency; thence South 66° 05’ 56" West, 65.71 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 86° 42’ 58", a chord bearing of North 70° 32’ 35" West, and a chord distance of 27.46 feet; thence Westerly along the arc of said curve 30.27 feet to the Point of Tangency; thence North 27° 11’ 07" West, 226.66 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 90° 51’ 23", a chord bearing of North 18° 14’ 35" East, and a chord distance of 28.49 feet; thence Northerly along the arc of said curve 31.71 feet to the Point of Tangency; thence North 63° 40’ 16" East, 65.18 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 89° 02’ 04", a chord bearing of South 71° 48’ 41" East, and a chord distance of 28.04 feet; thence Easterly along the arc of said curve 31.08 feet to the Point of Beginning.

ALSO LESS AND EXCEPT LG-42 POND 1A

A parcel of land being a portion of the North 365.00 feet of the North 1/2 of the Northeast 1/4 of Section 25, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2927.28 feet and South 01°
07’ 15" East, 5627.68 feet from the Northeast corner of Section 24, Township 29 South, Range 26 East, Polk County, Florida for the Point of Beginning; thence South 89° 27’ 33" East, 211.60 feet; thence South 78° 41’ 03" East, 15.61 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 77° 59’ 09", a chord bearing of South 39° 41’ 28" East, and a chord distance of 12.58 feet; thence Southeasterly along the arc of said curve
13.61 feet to the Point of Tangency; thence South 00° 41’ 54" East, 54.61 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 91° 00’ 51", a chord bearing of South 44° 48’ 32" West, and a chord distance of 14.27 feet; thence Southwesterly along the arc of said curve
15.88 feet to the Point of Tangency; thence North 89° 41’ 03" West, 236.42 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 90° 25’ 40", a chord bearing of North 44° 28’ 13" West, and a chord distance of 14.19 feet; thence Northwesterly along the arc of said curve
15.78 feet to the Point of Tangency; thence North 00° 44’ 37" East, 48.30 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 89° 47’ 50", a chord bearing of North 45° 38’ 32" East, and a chord distance of 28.23 feet; thence Northeasterly along the arc of said curve
31.35 feet to the Point of Beginning.

ALSO LESS AND EXCEPT from Tract 6 those certain parcels of land conveyed to Lake Ashton Development Group II, LLC, a Florida limited liability company, by virtue of Quit Claim Deed recorded February 7, 2014 in Official Records Book 9172, Page 957, of the Public Records of Polk County, Florida, being more particularly described as follows:

LG-46

NEW PARCEL "A"

A parcel of land being a portion of Tract 6 - Golf Course, as described in Official Records Book 6126, Page 7, Public Records of Polk County, Florida being in the South 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 1342.59 feet to the boundary line of said Tract 6
Golf Course; thence along the boundary line of said Tract 6 - Golf Course the following six (6) courses; (1) thence South 89° 10’ 06" West, 492.98 feet; (2)
thence South 00° 49’ 54" East, 100.00 feet; (3) thence South 89° 10’ 06" West,
23.93 feet to the Point of Curvature of a curve to the right having a radius of
615.00 feet, a central angle of 30° 41’ 53", a chord bearing of North 75° 28’ 57" West and a chord distance of 325.58 feet; (4) thence along the arc of said curve, 329.51 feet to the Point of Beginning; thence South 65° 54’ 27" West,
19.89 feet to a point on a non-tangent curve to the right having a radius of
160.00 feet, a central angle of 14° 35’ 11", a chord bearing of South 18° 34’ 33" East, and a chord distance of 40.62 feet; thence along the arc of said curve, 40.73 feet to the boundary line of Pond 1, as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida; thence along said boundary line of Pond 1 the following four (4) courses: (1) thence South 01° 26’ 58" West, 42.12 feet to the Point of Curvature of a curve to the right having a radius of 150.00 feet, a central angle of 93° 12’ 38", a chord bearing of South 48° 03’ 17" West and a chord distance of 217.99 feet; (2) thence along the arc of said curve, 244.02 feet; (3) thence North 85° 20’ 24" West, 48.07 feet; (4) thence North 79° 20’ 03" West, 134.31 feet to Point "A";

thence South 84° 46’ 39" East, 174.06 feet to the Point of Curvature of a curve to the left having a radius of 150.00 feet, a central angle of 147° 32’ 39", a chord bearing of North 21° 27’ 02" East and a chord distance of 288.05 feet; thence along the arc of said curve, 386.27 feet to a point on said boundary line of Tract 6 - Golf Course, said point being on a curve to the left having a radius of 615.00 feet, a central angle of 07° 48’ 43", a chord bearing of South 56° 13’ 39" East and a chord distance of 83.79 feet; thence along the arc of said curve, 83.85 feet to the Point of Beginning.

AND LESS AND EXCEPT NEW PARCEL "B"

Commence at the aforesaid Point "A"; thence South 03° 29’ 20" East, 667.85 feet to said boundary line of Pond 1 for the Point of Beginning; thence South 73° 42’ 46" East, along said boundary line of Pond 1, a distance of 35.08 feet to the Point of Curvature of a curve to the left having a radius of 30.00 feet, a central angle of 10° 10’ 17", a chord bearing of South 78° 47’ 55" East and a chord distance of 5.32 feet; thence along the arc of said curve, 5.33 feet; to a point on a non-tangent curve to the right having a radius of 160.00 feet, a central angle of 164° 20’ 45", a chord bearing of South 14° 56’ 19" West, and a chord distance of 317.02 feet; thence along the arc of said curve, 458.94 feet; thence North 82° 53’ 18" West, 104.05 feet; thence North 89° 35’ 19" East,
124.10 feet to the Point of Curvature of a curve to the left having a radius of
145.00 feet, a central angle of 198° 19’ 41", a chord bearing of North 09° 34’ 30" West and a chord distance of 286.30 feet; thence along the arc of said curve, 501.91 feet; thence South 71° 15’ 40" West, 167.42 feet; thence South 89° 35’ 19" West, 13.10 feet to said boundary line of Pond 1; thence North 67° 42’ 01" East, along said boundary line of Pond 1, a distance of 108.16 feet; thence North 71° 56’ 26" East, along said boundary line of Pond 1, a distance of 89.91 feet; thence North 83° 47’ 35" East, along said boundary line of Pond 1, a distance of 56.02 feet; to the Point of Beginning.

ALSO LESS AND EXCEPT from Tract 6 those certain parcels of land conveyed to Lake Ashton II Community Development District, a Florida community development district, by virtue of Quit Claim Deed recorded February 7, 2014 in Official Records Book 9172, Page 960, of the Public Records of Polk County, Florida, being more particularly described as follows:

LG-44

NEW PARCEL "A"

A parcel of land being a portion of Tract 6 - Golf Course, as described in Official Records Book 6126, Page 7, the Public Records of Polk County, Florida being in the South 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 1287.16 feet to the boundary line of said Tract 6
Golf Course for the Point of Beginning; thence along the boundary line of Tract 6 - Golf Course the following fifteen (15) courses: (1) thence South 89° 26’ 26" West, 334.36 feet; (2) thence South 42° 36’ 42" West, 128.58 feet; (3)
thence South 33° 10’ 28" West, 164.05 feet; (4) thence South 56° 20’ 04" West,
246.93 feet; (5) thence North 86° 15’ 52" West, 155.75 feet; (6) thence North 58° 02’ 03" West, 176.00 feet; (7) thence North 85° 34’ 55" West, 50.81 feet;
(8) thence South 67° 03’ 00" West, 194.61 feet; (9) thence South 25° 16’ 05" West, 93.59 feet; (10) thence South 01° 09’ 21" East, 88.25 feet; (11) thence

South 28° 58’ 54" East, 69.80 feet; (12) thence South 42° 09’ 12" East, 53.21
feet; (13) thence South 67° 39’ 14" East, 312.25 feet; (14) thence South 06°
03’ 12" East, 164.48 feet; (15) thence South 24° 54’ 24" East, 270.24 feet; thence South 89° 34’ 08" West, 196.37 feet to a point on a non-tangent curve to the left having a radius of 160.00 feet, a central angle of 130° 42’ 59", a chord bearing of North 01° 52’ 35" West, and a chord distance of 290.86 feet; thence along the arc of said curve, 365.03 feet to a point on the boundary line of Pond 1, as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida and Point "A"; thence along said boundary line of Pond
1 the following eleven (11) courses: said point being on a non-tangent curve to the left having a radius of 30.00 feet, a central angle of 124° 01’ 35", a chord bearing of North 34° 06’ 09" East, and a chord distance of 52.98 feet; (1) thence along the arc of said curve, 64.94 feet; (2) thence North 27° 54’ 38" West, 71.14 feet; (3) thence North 71° 25’ 23" West, 164.88 feet to a point on a non-tangent curve to the right having a radius of 229.54 feet, a central angle of 182° 53’ 05", a chord bearing of North 18° 12’ 58" East, and a chord distance of 458.94 feet; (4) thence along the arc of said curve, 732.69 feet; (5) thence South 70° 20’ 29" East, 172.15 feet to a point on a non-tangent curve to the left having a radius of 220.00 feet, a central angle of 69° 00’ 27", a chord bearing of North 77° 07’ 31" East, and a chord distance of 249.24 feet; (6) thence along the arc of said curve, 264.97 feet; (7) thence North 42° 37’ 18" East, 225.78 feet to the Point of Curvature of a curve to the left having a radius of 20.00 feet, a central angle of 118° 16’ 58", a chord bearing of North 16° 31’ 11" West and a chord distance of 34.34 feet; (8) thence along the arc of said curve, 41.29 feet; (9) thence North 75° 39’ 40" West, 263.68 feet to the Point of Curvature of a curve to the left having a radius of 10.00 feet, a central angle of 102° 53’ 22", a chord bearing of South 52° 53’ 39" West and a chord distance of 15.64 feet; (10) thence along the arc of said curve, 17.96 feet; (11) thence South 01° 26’ 58" West, 11.22 feet to a point on the boundary line of said Tract 3 - Golf Course; thence along said boundary line of said Tract 3 - Golf Course the following six (6) courses: said point being on a non- tangent curve to the left having a radius of 160.00 feet, a central angle of 14° 35’ 11", a chord bearing of North 18° 34’ 33" West, and a chord distance of
40.62 feet; (1) thence along the arc of said curve, 40.73 feet; (2) thence North 65° 54’ 27" East, 19.89 feet to a point on a non-tangent curve to the left having a radius of 615.00 feet, a central angle of 30° 41’ 53", a chord bearing of South 75° 28’ 57" East, and a chord distance of 325.58 feet; (3) thence along the arc of said curve, 329.51 feet; (4) thence North 89° 10’ 06" East, 23.93 feet; (5) thence North 00° 49’ 54" West, 100.00 feet; (6) thence North 89° 10’ 06" East, 398.65 feet to said West line of LAKE ASHTON WEST PHASE 1; thence South 00° 48’ 09" East, along said West line, 55.39 feet to the Point of Beginning.

AND LESS AND EXCEPT NEW PARCEL "B"

Commence at the aforesaid Point "A", said point being on a curve to the left having a radius of 160.00 feet, a central angle of 45° 03’ 55", a chord bearing of North 89° 46’ 01" West, and a chord distance of 122.63 feet; thence along the arc of said curve, 125.85 feet; thence South 67° 42’ 01" West, 62.08 feet to a point on the boundary line of said Tract 6 - Golf Course for the Point of Beginning; thence along the boundary line of said Tract 6 - Golf Course the following six (6): (1) thence South 67° 42’ 01" West, 108.16 feet; (2) thence North 27° 33’ 20" West, 355.65 feet to the Point of Curvature of a curve to the right having a radius of 300.00 feet, a central angle of 56° 15’ 46", a chord bearing of North 00° 34’ 33" East and a chord distance of 282.90 feet; (3)
thence along the arc of said curve, 294.59 feet; (4) thence North 28° 42’ 26" East, 199.62 feet to a point on a non- tangent curve to the left having a radius

of 645.00 feet, a central angle of 24° 00’ 25", a chord bearing of South 83° 12’ 59" East, and a chord distance of 268.28 feet; (5) thence along the arc of said curve, 270.25 feet; (6) thence South 79° 20’ 03" East, 134.31 feet to the boundary line of said Pond 3; thence along said boundary line of Pond 3 the following seven (7) courses: (1) thence North 85° 20’ 24" West, 377.65 feet to the Point of Curvature of a curve to the left having a radius of 20.00 feet, a central angle of 65° 24’ 48", a chord bearing of South 61° 57’ 12" West and a chord distance of 21.61 feet; (2) thence along the arc of said curve, 22.83 feet; (3) thence South 29° 14’ 47" West, 212.24 feet to the Point of Curvature of a curve to the left having a radius of 200.00 feet, a central angle of 56° 43’ 07", a chord bearing of South 00° 53’ 14" West and a chord distance of
190.00 feet; (4) thence along the arc of said curve, 197.99 feet; (5) thence South 27° 28’ 20" East, 377.15 feet to the Point of Curvature of a curve to the left having a radius of 20.00 feet, a central angle of 80° 35’ 15", a chord bearing of South 67° 45’ 57" East and a chord distance of 25.87 feet; (6) thence along the arc of said curve, 28.13 feet; (7) thence North 71° 56’ 26" East,
75.38 feet to the Point of Beginning.

ALSO LESS AND EXCEPT that certain parcel of land conveyed to Lake Ashton II Community Development District, a Florida community development district, by virtue of Special Warranty Deed recorded June 22, 2018 in Official Records Book 10527, Page 52, of the Public Records of Polk County, Florida, being more particularly described as follows:

PEBBLE BEACH DOG PARK

A part of Tract "GC-3" as shown on LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, in the Public Records of Polk County, Florida, as follows:

Commence at a Permanent Control Point in the centerline of Pebble Beach Boulevard, said Permanent Control Point also lying on the Western line of the LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, in the Public Records of Polk County, Florida and said Permanent Control Point also lying South 00° 48’ 09" East a distance of 15.00 feet from a Permanent Reference Monument along that same said Western plat boundary. Thence along said Western plat boundary, South 00° 48’ 09" East a distance of 15.00 feet to a point on the Southern right-of-way line of Pebble Beach Boulevard for a Point of Beginning; thence following said Southern right-of-way line North 89° 10’ 06" East a distance of 59.06 feet, thence continuing along said right-of-way line through a curve concave to the Southwest, said curve having a radius of
385.00 feet, an arc length of 198.95 feet, and a central angle of 29° 36’ 26" to a point also being the Northwest corner of Tract "K"; thence leaving said Southern right-of-way, and running along the Western line of Tract "K", South 00° 05’ 20" West a distance of 102.50 feet to the Southwest corner of said Tract "K"; thence leaving the Western line of Tract "K" and projecting from the Western line of Lot 293, South 61° 25’ 25" West a distance of 28.69 feet to a point lying on the wetland line and boundary of Wetland Tract "WA-5"; thence along said wetland line and boundary of Wetland Tract "WA-5" North 26° 48’ 05" West a distance of 122.27 feet; thence continuing along said Tract boundary South 89° 26’ 26" West a distance of 168.72 feet to the Western plat boundary; thence leaving said Tract boundary
line and following the Western plat boundary North 00° 48’ 09" West a distance of 55.39 feet to a point on the Southerly right-of-way line and the Point of Beginning.

PARCEL III:

TOGETHER WITH ADDITIONAL PROPERTY FROM QUITCLAIM DEED RECORDED FEBRUARY 7, 2014 IN OR BOOK 9172, PAGE 965, AS FOLLOWS:

(Lake Ashton Golf Club II, Ltd., a Florida limited partnership) LG-1
A parcel of land being a portion of Tract "CDD-3", LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:

Commence at the Southwest corner of Lot 15 of said plat of LAKE ASHTON WEST PHASE I; thence South 74° 51’ 08" West, along the Southerly line of said Tract "CDD-3", a distance of 37.51 feet to the Point of Beginning; thence continue South 74° 51’ 08" West, along said Southerly line, 33.25 feet; thence North 64°
05’ 23" West, 82.37 feet; thence North 80° 32’ 42" West, 46.31 feet; thence South 83° 18’ 11" West, 122.99 feet to the Northeast corner of Tract "WA-4" of said plat of LAKE ASHTON WEST PHASE I; thence North 47° 55’ 46" West, 19.44 feet to the Southeasterly corner of a 15 feet wide Wetland buffer as shown on said plat of LAKE ASHTON WEST PHASE I; thence North 24° 18’ 01" East, along Southeasterly line of said 15 feet wide Wetland buffer, 42.69 feet; thence North 70° 39’ 45" East, along said Southeasterly line, 142.20 feet; thence South 25°
54’ 36" East, 28.27 feet; thence South 31° 41’ 45" West, 31.58 feet; thence
South 09° 41’ 45" East, 15.82 feet; thence South 77° 41’ 24" East, 33.90 feet;
thence South 64° 43’ 13" East, 69.58 feet; thence South 70° 44’ 46" East, 44.73 feet to the Point of Beginning.

(Parcel ID # 26-29-24-690596-003770)

LG-12

A parcel of land being a portion of Tract "WA-6", LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:

Commence at the Southeast corner of said plat of LAKE ASHTON WEST PHASE I, thence South 89° 35’ 19" West, along the South line of said plat of LAKE ASHTON West PHASE I, a distance of 786.16 feet to the Westerly line of said Tract "WA- 6"; thence North 27° 40’ 20" West, along said Westerly line, 123.75 feet; thence
North 32° 59’ 19" East, along said Westerly line, 89.54 feet; thence North 10° 18’ 04" West, along said Westerly line, 63.95 feet to the Point of Beginning; thence North 31° 08’ 32" West, along said Westerly line, 47.20 feet; thence
North 28° 42’ 35" East, along said Westerly line, 15.96 feet; thence South 54°
47’ 04" East, along said Westerly line, 49.31 feet; thence South 42° 11’ 24" West, 35.05 feet to the Point of Beginning.

(Parcel ID # 26-29-24-690596-003790)

LG-13

A parcel of land being a portion of Tract "WA-5", LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 199.43 feet to the Southerly line of said Tract "WA-5"; thence North 88° 55’ 15" East, along said Southerly line, 99.12 feet;
thence South 80° 05’ 39" East, along said Southerly line, 138.00 feet; thence
North 68° 45’ 26" East, along said Southerly line, 108.53 feet; thence North 48° 27’ 34" East, along said Southerly line, 110.52 feet to the Point of Beginning; thence North 77° 11’ 45" East, along said Southerly line, 45.37 feet;
thence North 32° 24’ 08" East, along said Southerly line, 11.14 feet; thence
North 39° 39’ 09" West, along said Southerly line, 31.81 feet; thence South 34° 13’ 54" West, 53.17 feet to the Point of Beginning.

(Parcel ID # 26-29-24-690596-003800)

LG-14

A parcel of land being a portion of Tract "WA-5", LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 199.43 feet to the Southerly line of said Tract "WA-5" for the Point of Beginning; thence continue North 00° 48’ 09" West, along said West line, 38.68 feet; thence South 74° 53’ 39" East, 19.09 feet; thence South 50° 26’ 29" East, 51.22 feet to said Southerly line of Tract "WA-5"; thence South 88° 55’ 15" West, along said Southerly line, 57.39 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690596-003810)

LG-20

A parcel of land being a portion of Wetland 14, as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida being in the Southeast 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 199.43 feet to the Southeasterly corner of said Wetland 14 for the Point of Beginning; thence continue North 00° 48’ 09" West, along said West line, and the Easterly line of said Wetland 14, a distance of
38.68 feet; thence North 85° 24’ 06" West, 25.20 feet; thence South 66° 56’ 08" West, 19.18 feet; thence South 53° 35’ 30" West, 26.55 feet; thence South 19° 56’ 14" West, 19.97 feet to the Southerly line of said Wetland 14; thence North 88° 55’ 15" East, along said Southerly line, 71.50 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690596-003810)

LG-21

A parcel of land being a portion of Wetland 7, as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida being in the Southeast 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of said plat of LAKE ASHTON WEST PHASE I, thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 1431.24 feet to the Southerly line of said Wetland 7; thence South 59° 37’ 56" West, along said Southerly line, 17.74 feet; thence South 51° 52’ 31" West, along said Southerly line, 40.12 feet to the Point of Beginning; thence continue South 51° 52’ 31" West, along said Southerly line,
37.13 feet; thence North 68° 49’ 17" West, along said Southerly line, 43.83 feet; thence North 77° 12’ 38" West, along said Southerly line, 14.40 feet; thence North 87° 20’ 34" East, 84.21 feet to the Point of Beginning.

(adjacent to Parcel ID # 26-29-24-690600-009770)

LG-34

A parcel of land being a portion of Wetland 16 as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida being in the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida; thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 1942.79 feet; thence South 89° 11’ 51" West, 2673.24 feet to the Northwest corner of said Wetland 16; thence North 69° 27’ 53" East, along the Northerly line of said Wetland 16, a distance of 66.81 feet to the Point of Beginning; thence continue North 69° 27’ 53" East, along said Northerly line, 8.92 feet; thence South 83° 32’ 33" East, along said Northerly line, 13.01 feet; thence South 85° 31’ 20" West, 21.35 feet to the Point of Beginning.

(adjacent to Parcel ID # 26-29-24-690600-009770)

LG-35

A parcel of land being a portion of Wetland 16 as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida being in the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Southwest corner of LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida; thence North 00° 48’ 09" West, along the West line of said plat of LAKE ASHTON WEST PHASE I, a distance of 2301.16 feet; thence South 89° 11’ 51" West, 1549.86 feet to the Southwesterly corner of said Wetland 16 for the Point of Beginning; thence South 55° 24’ 20" West, along the Southerly line of said Wetland 16, a distance of 76.91 feet; thence North 12° 14’ 21" West, 60.76 feet to the Northerly line of said Wetland 16; thence North 51° 09’ 32" East, along said Northerly line, 54.83 feet to the Westerly line of said Wetland 16; thence South 33° 45’ 21" East, along said Westerly line, 60.26 feet to the Point of Beginning.

(adjacent to Parcel ID # 26-29-24-690600-009770)

LG-22 POND 3
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 1945.05 feet and South 01° 07’ 15" East, 4003.94 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non- tangent curve to the right having a radius of 10.00 feet, a central angle of 81° 55’ 01", a chord bearing of South 62° 10’ 56" East, and a chord distance of 13.11 feet; thence Southeasterly along the arc of said curve 14.30 feet to the Point of Tangency; thence South 21° 13’ 25" East, 167.85 feet; thence South 44° 14’ 50" East, 59.21 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 75° 22’ 22", a chord bearing of South 06° 33’ 39" East, and a chord distance of 24.45 feet; thence Southerly along the arc of said curve 26.31 feet to the Point of Tangency; thence South 31° 07’ 32" West, 15.30 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 76° 24’ 43", a chord bearing of South 69° 19’ 54" West, and a chord distance of 12.37 feet; thence Southwesterly along the arc of said curve 13.34 feet to the Point of Tangency; thence North 72° 27’ 45" West, 60.87 feet; thence North 59° 14’ 21" West, 118.49 feet; thence North 47° 15’ 09" West, 74.66 feet;
thence North 32° 51’ 16" West, 80.85 feet; thence North 16° 50’ 59" West, 34.02 feet to the Point of Curvature of a curve to the right having a radius of 35.00 feet, a central angle of 164° 51’ 27", a chord bearing of North 65° 34’ 44" East, and a chord distance of 69.39 feet; thence Northeasterly along the arc of said curve 100.71 feet to the Point of Tangency; thence South 31° 59’ 32" East,
18.82 feet to the Point of Curvature of a curve to the left having a radius of
20.00 feet, a central angle of 61° 39’ 43", a chord bearing of South 62° 49’ 24" East, and a chord distance of 20.50 feet; thence Southeasterly along the arc of said curve 21.52 feet to the Point of Tangency; thence North 86° 20’ 45" East, 31.92 feet; thence North 76° 51’ 34" East, 49.49 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-23A

A parcel of land being a portion of Clubhouse, Road and Recreation Area as described in Official Records Book 6357, Page 1585, Public Records of Polk County, Florida being in the Southeast 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at the Northeast corner of said Section 24; thence South 00° 51’ 50" East, along the East line of said Section 24, a distance of 2651.56 feet to the Northeast corner of the Southeast 1/4 of said Section 24; thence South 00° 17’ 38" East, along said East line, 1324.60 feet; thence South 89° 42’ 22" West, 2000.47 feet to the Westerly line of said Clubhouse, Road and Recreation Area as described in Official Records Book 6357, Page 1585; thence North 15° 59’ 51" West, along said Easterly line, 359.92 feet to the Point of Beginning; thence continue North 15° 59’ 51" West, along said Easterly line, 5.81 feet; thence
North 51° 55’ 47" West, along said Easterly line, 79.55 feet; thence North 00° 00’ 00" East, along said Easterly line, 125.00 feet to the Northerly line of

said Clubhouse, Road and Recreation Area as described in Official Records Book 6357, Page 1585; thence North 90° 00’ 00" West, along said Northerly line,
119.69 feet to the Westerly line said Clubhouse, Road and Recreation Area as described in Official Records Book 6357, Page 1585; thence South 33° 19’ 21" West, along said Westerly line, 34.58 feet; thence South 50° 38’ 01" East,
164.59 feet; thence South 58° 30’ 47" East, 88.75 feet to the Point of Beginning.

(adjacent to Parcel ID # 26-29-24-690600-009770)

LG-24 POND 3A
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2057.92 feet and South 01° 07’ 15" East, 3492.64 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 31° 42’ 45" East, 141.82 feet; thence South
20° 25’ 15" East, 85.19 feet; thence South 06° 49’ 47" East, 61.16 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 100° 02’ 38", a chord bearing of South 43° 11’ 32" West, and a chord distance of 15.33 feet; thence Southwesterly along the arc of said curve
17.46 feet to the Point of Tangency; thence North 86° 47’ 09" West, 70.17 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 71° 20’ 36", a chord bearing of North 51° 06’ 51" West, and a chord distance of 17.49 feet; thence Northwesterly along the arc of said curve
18.68 feet to the Point of Tangency; thence North 15° 26’ 33" West, 64.10 feet; thence North 21° 25’ 26" West, 98.46 feet; thence North 55° 37’ 54" West, 62.77 feet; thence North 71° 56’ 57" West, 15.78 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 73° 31’ 13", a chord bearing of North 35° 11’ 20" West, and a chord distance of 17.95 feet; thence Northwesterly along the arc of said curve 19.25 feet to the Point of Tangency; thence North 01° 34’ 16" East, 49.75 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 103° 21’ 09", a chord bearing of North 53° 14’ 51" East, and a chord distance of
7.85 feet; thence Northeasterly along the arc of said curve 9.02 feet to the Point of Tangency; thence South 75° 04’ 35" East, 60.19 feet; thence North 67° 53’ 58" East, 37.50 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 80° 23’ 16", a chord bearing of South 71° 54’ 23" East, and a chord distance of 12.91 feet; thence Easterly along the arc of said curve 14.03 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-25 POND 3B
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2546.52 feet and South 01° 07’ 15" East, 3260.17 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 54° 40’ 28" East, 181.95 feet to the Point of

Curvature of a curve to the left having a radius of 40.00 feet, a central angle of 93° 57’ 57", a chord bearing of North 78° 20’ 33" East, and a chord distance of 58.49 feet; thence Easterly along the arc of said curve 65.60 feet to the Point of Tangency; thence North 31° 21’ 34" East, 37.62 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 94° 58’ 54", a chord bearing of North 78° 51’ 02" East, and a chord distance of 29.49 feet; thence Easterly along the arc of said curve 33.15 feet to the Point of Tangency; thence South 53° 39’ 31" East, 36.93 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 89° 21’ 39", a chord bearing of South 08° 58’ 42" East, and a chord distance of 21.09 feet; thence Southerly along the arc of said curve 23.39 feet to the Point of Tangency; thence South 35° 42’ 08" West, 151.54 feet to the Point of Curvature of a curve to the right having a radius of 30.00 feet, a central angle of 87° 31’ 37", a chord bearing of South 79° 27’ 56" West, and a chord distance of 41.50 feet; thence Westerly along the arc of said curve 45.83 feet to the Point of Tangency; thence North 56° 46’ 15" West, 207.79 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 78° 33’ 43", a chord bearing of North 17° 29’ 23" West, and a chord distance of 25.32 feet; thence Northerly along the arc of said curve 27.42 feet to the Point of Tangency; thence North 21° 47’ 28" East, 16.49 feet; thence North 24°
25’ 58" West, 12.80 feet; thence North 48° 13’ 28" West, 38.50 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 79° 28’ 29", a chord bearing of North 08° 29’ 14" West, and a chord distance of 12.79 feet; thence Northerly along the arc of said curve 13.87 feet to the Point of Tangency; thence North 31° 15’ 00" East, 19.57 feet to the Point of Curvature of a curve to the right having a radius of 30.00 feet, a central angle of 94° 04’ 31", a chord bearing of North 78° 17’ 16" East, and a chord distance of 43.91 feet; thence Easterly along the arc of said curve 49.26 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-30 POND 15
A parcel of land being a portion of the Northwest 1/4 and the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3605.37 feet and South 01° 07’ 15" East, 2041.47 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 29° 17’ 50" East, 62.01 feet; thence South 41°
02’ 35" East, 374.33 feet; thence South 36° 29’ 30" East, 345.53 feet; thence
South 44° 32’ 49" East, 142.23 feet; thence South 66° 34’ 05" East, 196.56 feet;
thence South 55° 22’ 16" East, 94.93 feet; thence South 24° 28’ 28" East, 47.14 feet; thence South 12° 51’ 05" East, 86.89 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 155° 01’ 38", a chord bearing of South 64° 39’ 44" West, and a chord distance of 19.53 feet; thence Southwesterly along the arc of said curve 27.06 feet to the Point of Tangency; thence North 37° 49’ 27" West, 150.09 feet to the Point of Curvature of a curve to the left having a radius of 10.00 feet, a central angle of 96° 09’ 16", a chord bearing of North 85° 54’ 05" West, and a chord distance of
14.88 feet; thence Westerly along the arc of said curve 16.78 feet to the Point of Tangency; thence South 46° 01’ 17" West, 155.82 feet; thence South 46° 07’ 50" West, 23.06 feet; thence North 66° 17’ 13" West, 14.60 feet; thence North

38° 15’ 59" West, 390.54 feet; thence North 44° 53’ 13" East, 70.17 feet; thence
North 15° 42’ 02" West, 17.82 feet; thence North 33° 40’ 54" West, 218.29 feet; thence North 41° 48’ 16" West, 306.61 feet to the Point of Curvature of a curve to the left having a radius of 200.00 feet, a central angle of 70° 18’ 11", a chord bearing of North 76° 57’ 21" West, and a chord distance of 230.30 feet; thence Westerly along the arc of said curve 245.40 feet to the Point of Tangency; thence South 67° 53’ 33" West, 204.71 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 98° 32’ 50", a chord bearing of North 62° 50’ 02" West, and a chord distance of 15.16 feet; thence Northwesterly along the arc of said curve 17.20 feet to the Point of Tangency; thence North 13° 33’ 37" West, 1.32 feet to the Point of Curvature of a curve to the right having a radius of 100.00 feet, a central angle of 83° 07’ 45", a chord bearing of North 28° 00’ 16" East, and a chord distance of 132.69 feet; thence Northeasterly along the arc of said curve 145.09 feet to the Point of Tangency; thence North 69° 34’ 08" East, 288.09 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 81° 08’ 02", a chord bearing of South 69° 51’ 51" East, and a chord distance of
6.50 feet; thence Easterly along the arc of said curve 7.08 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-32 POND 17
A parcel of land being a portion of the Northwest 1/4 and the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3900.53 feet and South 01° 07’ 15" East, 2598.55 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence North 88° 03’ 56" East, 95.37 feet; thence South 84° 25’ 04" East, 88.97 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 46° 14’ 22", a chord bearing of South 61° 17’ 53" East, and a chord distance of 15.71 feet; thence Southeasterly along the arc of said curve 16.14 feet to the Point of Tangency; thence South 38° 10’ 42" East, 132.87 feet to the Point of Curvature of a curve to the right having a radius of 15.00 feet, a central angle of 117° 11’ 33", a chord bearing of South 20° 25’ 05" West, and a chord distance of 25.61 feet; thence Southerly along the arc of said curve 30.68 feet to the Point of Tangency; thence South 79° 00’ 51" West, 507.55 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 94° 16’ 06", a chord bearing of North 53° 51’ 05" West, and a chord distance of 7.33 feet; thence Northwesterly along the arc of said curve 8.23 feet to the Point of Tangency; thence North 06° 43’ 02" West, 53.75 feet to the Point of Curvature of a curve to the right having a radius of 5.00 feet, a central angle of 78° 16’ 06", a chord bearing of North 32° 25’ 01" East, and a chord distance of
6.31 feet; thence Northeasterly along the arc of said curve 6.83 feet to the Point of Tangency; thence North 71° 33’ 04" East, 45.87 feet; thence North 79° 59’ 15" East, 159.65 feet to the Point of Curvature of a curve to the left having a radius of 20.00 feet, a central angle of 80° 11’ 57", a chord bearing of North 39° 53’ 16" East, and a chord distance of 25.76 feet; thence Northeasterly along the arc of said curve 27.99 feet to the Point of Tangency; thence North 00° 12’ 43" West, 93.00 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 88° 16’ 38", a

chord bearing of North 43° 55’ 37" East, and a chord distance of 27.86 feet; thence Northeasterly along the arc of said curve 30.81 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-33 POND 18
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3124.69 feet and South 01° 07’ 15" East, 3324.61 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non- tangent curve to the right having a radius of 11.25 feet, a central angle of 164° 37’ 56", a chord bearing of South 42° 43’ 14" East, and a chord distance of 22.30 feet; thence Southeasterly along the arc of said curve 32.33 feet; thence South 60° 16’ 49" West, 57.71
feet; thence South 59° 17’ 51" West, 36.53 feet; thence South 68° 41’ 30" West,
275.07 feet to the Point of Curvature of a curve to the left having a radius of
10.00 feet, a central angle of 87° 42’ 24", a chord bearing of South 24° 50’ 18" West, and a chord distance of 13.86 feet; thence Southwesterly along the arc of said curve 15.31 feet to the Point of Tangency; thence South 19° 00’ 54" East, 72.03 feet; thence South 13° 29’ 21" West, 12.91 feet; thence South 67° 50’ 40" West, 226.53 feet; thence South 78° 50’ 16" West, 216.26 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 85° 50’ 56", a chord bearing of North 58° 14’ 17" West, and a chord distance of 13.62 feet; thence Northwesterly along the arc of said curve
14.98 feet to the Point of Tangency; thence North 15° 18’ 49" West, 40.28 feet to the Point of Curvature of a curve to the left having a radius of 10.00 feet, a central angle of 65° 18’ 46", a chord bearing of North 47° 58’ 12" West, and a chord distance of 10.79 feet; thence Northwesterly along the arc of said curve
11.40 feet to the Point of Tangency; thence North 80° 37’ 35" West, 97.86 feet; thence North 68° 53’ 47" West, 79.85 feet to the Point of Curvature of a curve to the left having a radius of 40.00 feet, a central angle of 46° 11’ 07", a chord bearing of South 88° 00’ 39" West, and a chord distance of 31.38 feet; thence Westerly along the arc of said curve 32.24 feet to the Point of Tangency; thence South 64° 55’ 06" West, 33.03 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 81° 09’ 42", a chord bearing of North 74° 30’ 03" West, and a chord distance of 26.02 feet; thence Westerly along the arc of said curve 28.33 feet to the Point of Tangency; thence North 33° 55’ 12" West, 144.09 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 97° 28’ 34", a chord bearing of North 14° 49’ 04" East, and a chord distance of 30.07 feet; thence Northerly along the arc of said curve 34.03 feet to the Point of Tangency; thence North 63° 33’ 21" East, 57.37 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 74° 38’ 50", a chord bearing of South 79° 07’ 14" East, and a chord distance of 12.13 feet; thence Easterly along the arc of said curve 13.03 feet to the Point of Tangency; thence South 41° 47’ 49" East, 100.86 feet; thence South 56° 39’ 46" East, 70.29 feet; thence South 70° 51’ 25" East, 116.28 feet; thence North 87° 54’ 53" East,
115.55 feet; thence North 70° 32’ 14" East, 449.74 feet; thence North 67° 50’ 31" East, 185.01 feet; thence North 57° 50’ 54" East, 94.98 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-36 POND 19
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2810.24 feet and South 01° 07’ 15" East, 3440.45 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 69° 29’ 06" East, 99.30 feet; thence South 57° 15’ 48" East, 356.58 feet to the Point of Curvature of a curve to the right having a radius of 25.00 feet, a central angle of 135° 02’ 22", a chord bearing of South 10° 15’ 23" West, and a chord distance of 46.20 feet; thence Southerly along the arc of said curve 58.92 feet to the Point of Tangency; thence South 77° 46’ 34" West, 138.29 feet; thence North 55° 36’ 19" West, 21.01 feet; thence
North 12° 20’ 39" West, 47.87 feet; thence North 70° 00’ 39" West, 304.52 feet;
thence North 19° 25’ 49" West, 16.31 feet; thence North 15° 19’ 14" East, 40.22 feet; thence North 34° 36’ 07" East, 103.85 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690600-009770)

LG-39 POND 4
A parcel of land being a portion of the Southwest 1/4 of Section 24, Township
29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2560.98 feet and South 01° 07’ 15" East, 3844.46 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 43° 19’ 00" East, 30.26 feet; thence South 18° 09’ 45" East, 91.31 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 47° 25’ 26", a chord bearing of South 05° 32’ 58" West, and a chord distance of 16.09 feet; thence Southerly along the arc of said curve 16.55 feet to the Point of Tangency; thence South 29° 15’ 41" West, 154.98 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 89° 51’ 15", a chord bearing of South 74° 11’ 18" West, and a chord distance of 14.12 feet; thence Westerly along the arc of said curve 15.68 feet to the Point of Tangency; thence North 60° 53’ 04" West, 249.32 feet to the Point of Curvature of a curve to the left having a radius of 400.00 feet, a central angle of 38° 27’ 20", a chord bearing of North 80° 06’ 44" West, and a chord distance of 263.46 feet; thence Westerly along the arc of said curve 268.47 feet to the Point of Tangency; thence South 80° 39’ 36" West, 20.31 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 99° 04’ 59", a chord bearing of North 49° 47’ 55" West, and a chord distance of 15.22 feet; thence Northwesterly along the arc of said curve 17.29 feet to the Point of Tangency; thence North 00° 15’ 25" West, 117.38 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 80° 35’ 54", a chord bearing of North 40° 02’ 32" East, and a chord distance of 12.94 feet; thence Northeasterly along the arc of said curve 14.07 feet to the Point of Tangency; thence North 80° 20’ 29" East, 103.22 feet to the Point of Curvature of a curve to the right having a radius of 200.00 feet, a central angle of 21°

11’ 47", a chord bearing of South 89° 03’ 38" East, and a chord distance of
73.57 feet; thence Easterly along the arc of said curve 73.99 feet to the Point of Tangency; thence South 78° 27’ 44" East, 72.69 feet; thence South 76° 16’ 56" East, 116.21 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 68° 58’ 48", a chord bearing of South 41° 47’ 32" East, and a chord distance of 11.33 feet; thence Southeasterly along the arc of said curve 12.04 feet to the Point of Tangency; thence South 07° 18’ 08" East, 23.45 feet; thence South 42° 40’ 01" East, 25.90 feet; thence South 83° 15’ 08" East, 75.24 feet to the Point of curvature of a curve to the left having a radius of 25.00 feet, a central angle of 80° 00’ 05", a chord bearing of North 56° 44’ 50" East, and a chord distance of 32.14 feet; thence Northeasterly along the arc of said curve 34.91 feet to the Point of Tangency; thence North 16° 44’ 47" East, 25.32 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 73° 08’ 53", a chord bearing of North 53° 19’ 13" East, and a chord distance of 11.92 feet; thence Northeasterly along the arc of said curve 12.77 feet to the Point of Tangency; thence North 89° 53’ 40" East, 36.94 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690599-008780)

LG-40 POND 5
A parcel of land being a portion of the Southeast 1/4 of the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3739.85 feet and South 01° 07’ 15" East, 4332.79 feet from the Northeast corner of said Section 24 for the Point of Beginning said point being on a non-tangent curve to the right having a radius of 20.00 feet, a central angle of 87° 27’ 11", a chord bearing of South 71° 43’ 37" East, and a chord distance of 27.65 feet; thence Easterly along the arc of said curve 30.53 feet to the Point of Tangency; thence South 28° 00’ 02" East, 360.03 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 94° 42’ 26", a chord bearing of South 19° 21’ 12" West, and a chord distance of 29.42 feet; thence Southerly along the arc of said curve 33.06 feet to the Point of Tangency; thence South 66° 42’ 25" West, 58.40 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 85° 16’ 41", a chord bearing of North 70° 39’ 15" West, and a chord distance of 27.10 feet; thence Westerly along the arc of said curve 29.77 feet to the Point of Tangency; thence North 28° 00’ 55" West, 357.84 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 92° 33’ 42", a chord bearing of North 18° 15’ 57" East, and a chord distance of 28.91 feet; thence Northerly along the arc of said curve 32.31 feet to the Point of Tangency; thence North 64° 32’ 48" East, 58.35 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690599-008780)

LG-41 POND 1B
A parcel of land being a portion of the Southeast 1/4 of the Southwest 1/4 of Section 24, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 3363.66 feet and South 01° 07’ 15" East, 5033.11 feet from the Northeast corner of said Section 24 for the Point of Beginning; thence South 27° 17’ 39" East, 229.45 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 93° 23’ 35", a chord bearing of South 19° 24’ 08" West, and a chord distance of 29.11 feet; thence Southerly along the arc of said curve 32.60 feet to the Point of Tangency; thence South 66° 05’ 56" West, 65.71 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 86° 42’ 58", a chord bearing of North 70° 32’ 35" West, and a chord distance of 27.46 feet; thence Westerly along the arc of said curve 30.27 feet to the Point of Tangency; thence North 27° 11’ 07" West, 226.66 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 90° 51’ 23", a chord bearing of North 18° 14’ 35" East, and a chord distance of 28.49 feet; thence Northerly along the arc of said curve 31.71 feet to the Point of Tangency; thence North 63° 40’ 16" East, 65.18 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 89° 02’ 04", a chord bearing of South 71° 48’ 41" East, and a chord distance of 28.04 feet; thence Easterly along the arc of said curve 31.08 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690599-008780)

LG-42 POND 1A
A parcel of land being a portion of the North 365.00 feet of the North 1/2 of the Northeast 1/4 of Section 25, Township 29 South, Range 26 East, Polk County, Florida, being described as follows:

Commence at a point being South 88° 52’ 45" West, 2927.28 feet and South 01°
07’ 15" East, 5627.68 feet from the Northeast corner of Section 24, Township 29 South, Range 26 East, Polk County, Florida for the Point of Beginning; thence South 89° 27’ 33" East, 211.60 feet; thence South 78° 41’ 03" East, 15.61 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 77° 59’ 09", a chord bearing of South 39° 41’ 28" East, and a chord distance of 12.58 feet; thence Southeasterly along the arc of said curve
13.61 feet to the Point of Tangency; thence South 00° 41’ 54" East, 54.61 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 91° 00’ 51", a chord bearing of South 44° 48’ 32" West, and a chord distance of 14.27 feet; thence Southwesterly along the arc of said curve
15.88 feet to the Point of Tangency; thence North 89° 41’ 03" West, 236.42 feet to the Point of Curvature of a curve to the right having a radius of 10.00 feet, a central angle of 90° 25’ 40", a chord bearing of North 44° 28’ 13" West, and a chord distance of 14.19 feet; thence Northwesterly along the arc of said curve
15.78 feet to the Point of Tangency; thence North 00° 44’ 37" East, 48.30 feet to the Point of Curvature of a curve to the right having a radius of 20.00 feet, a central angle of 89° 47’ 50", a chord bearing of North 45° 38’ 32" East, and

a chord distance of 28.23 feet; thence Northeasterly along the arc of said curve
31.35 feet to the Point of Beginning.

(part of Parcel ID # 26-29-24-690599-008780)

TOGETHER WITH Cart Path Easement as set forth in that certain Easement Agreement between Lake Ashton Golf Club II, Ltd., a Florida limited partnership, and Lake Ashton II Community Development District, a Florida community development district, recorded February 7, 2014 in Official Records Book 9172, Page 985, Public Records of Polk County, Florida.

AND

TOGETHER WITH Cart Path Easement as set forth in that certain Easement Agreement between Lake Ashton Golf Club II, Ltd., a Florida limited partnership, and Lake Ashton Development Group II, LLC, a Florida limited liability company, recorded February 7, 2014 in Official Records Book 9172, Page 994, Public Records of Polk County, Florida.

NOTE: Parcel ID # references are given for informational purposes only.

ASHTON GOLF-EAGLE’S NEST, LLC, LEGAL DESCRIPTION

Lots 540 and 541, as recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida.
(part of Parcel ID # 27-29-19-8652000-005400)
AND
PARCEL 2:
A parcel of land being a portion of TRACT "GC-12" (GOLF COURSE), recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida, described as follows:
Commence at the southwest corner of said TRACT “GC-12”; thence North 00°51'50” West, along the west line of said TRACT “GC-12”, 32.47 feet to the POINT OF BEGINNING”; thence continue along said west line, 150.50 feet; thence South 89°57'43” East, 7.42 feet; thence South 09°54'54” East, 48.17 feet; thence South 07°26'07” West, 103.91 feet to the POINT OF BEGINNING.
(Parcel ID # 27-29-19-865200-005940)
AND
PARCEL 4:
A parcel of land being a portion of LOT 542, recorded in LAKE ASHTON GOLF CLUB PHASE II, Plat Book 119, Pages 17 through 25, Public Records of Polk County, Florida, described as follows:
Commence at the northwest corner of said LOT 542; thence South 00°51'50” East, along the westerly line of said LOT 542, 27.37 feet to the POINT OF BEGINNING; thence South 73°10'06” East, 81.19 feet; thence South 76°12'18” East, 54.76 feet to the westerly right-of-way of Dunmore Drive, also being a point on a non-tangent curve to the right, having a radius of 90.00 feet, a central angle

of 4°47'20”, a chord bearing of South 01°31'50” West, and a chord length of
7.52 feet; thence along the arc of said curve and said westerly right-of-way,
7.52 feet; thence South 00°51'50” East, 2.58 feet to the south line of said LOT 542; thence South 89°08'10” West, along said south line, 130.00 feet to the west line of said LOT 542; thence North 00°51'50” West, along said west line,
48.63 feet to the POINT OF BEGINNING.
(part of Parcel ID # 27-29-19-8652000-005400)

AND
Lot 12, as recorded in LAKE ASHTON WEST PHASE I, Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida.
(Parcel ID # 26-29-24-690596-000120)
AND
PARCEL 1:
A parcel of land being a portion of TRACT “E”, LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:
Commence at the southeast corner of said TRACT “E” for the POINT OF BEGINNING; thence North 89°57'43” West, along the south line of said TRACT “E”, 60.33 feet to a point on the west line of said TRACT “E”, said point being on a non-tangent curve to the left, having a radius of 725.00 feet, a central angle of 3°20'23”, a chord bearing of North 16°39'53” East, and a chord distance of 42.25 feet; thence along the arc of said curve and said west line, 42.26 feet; thence South 89°57'43” East, 47.60 feet to the east line of said TRACT “E”; thence South 00°51'50” East, along said east line, 40.49 feet to the POINT OF BEGINNING.
(Parcel ID # 26-29-24-690596-003780)
AND
PARCEL 3:
A parcel of land being a portion of TRACT "GC-2" (GOLF COURSE), recorded in LAKE ASHTON WEST PHASE I, Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, described as follows:
BEGIN at the northeast corner of said TRACT “GC-2”; thence South 00°51'50” East, along the east line of said TRACT “GC-2”, 161.47 feet; thence North 89°59'03” West, 40.04 feet to a point on a non-tangent curve to the right, having a radius of 25.00 feet, a central angle of 42°58'00”, a chord bearing of South 68°34'55” West, and a chord distance of 18.31 feet; thence along the arc of said curve,
18.75 feet; thence North 89°57'43” West, 105.14 feet to the Point of Curvature of a curve to the left, having a radius of 25.00 feet, a central angle of 63°07'14”, a chord bearing of South 57°32'48” West, and a chord distance of
26.17 feet; thence along the arc of said curve, 27.54 feet; thence South 20°25'23” West, 18.31 feet to the easterly right-of-way of Pebble Beach Boulevard, also being a point on a non-tangent curve to the right, having a radius of 735.00 feet, a central angle of 12°13'34”, a chord bearing of North 03°46'19” West, and a chord distance of 156.54 feet; thence along the arc of said curve and said easterly right-of-way, 156.84 feet to a Point of Compound Curvature of a curve to the right, having a radius of 45.00 feet, a central angle of 87°41'50”, a chord bearing of North 46°11'22” East, and a chord length of 62.35 feet; thence along the arc of said curve and said easterly right-of- way, 68.88 feet to the south right-of-way of Mulligan Lane; thence South 89°57'43” East, along said south right-of-way, 153.58 feet to the POINT OF BEGINNING.

LESS AND EXCEPT RIGHT-OF-WAY “A” being described as follows:
A parcel of land being a portion of Tract “GC-2”, LAKE ASHTON WEST PHASE I, as recorded in Plat Book 138, Pages 11 through 21, Public Records of Polk County, Florida, being described as follows:
BEGIN at the northeast corner of said Tract “GC-2”; thence South 00°51'50" East, along the east line of said Tract “GC-2”, a distance of 23.84 feet; thence North 73°10'06" West, 82.48 feet to the north line of said Tract “GC-2”; thence South 89°57'43" East, along said north line, 78.58 feet to the POINT OF BEGINNING.
(Parcel ID # 26-29-24-690596-003820)
NOTE: Parcel ID # references are given for informational purposes only.

Exhibit 4.1

List of Due Diligence Materials

Equipment leases and service agreements

[Intentionally Deleted]

Surveys

Phase I environmental site assessments and other environmental reports

Blueprints, construction plans, as-builts for structures (including plans and specifications, architectural/engineering/landscaping plans/drawings, etc.)

[Intentionally Deleted]

Operating statements for golf course operations, pro shop, and food and beverage for the previous three (3) years

Current year’s budget with year to date actuals

[Intentionally Deleted]

Real estate tax bills

Rounds summaries

Depreciation schedules

Property tax records

Declaration pages from insurance policies

Management agreements, maintenance agreements and service contracts

Inventory lists (including pro shop, turf management and restaurant)

Membership lists (including breakdown between membership levels and/or types as well as description of benefits and obligations associated with each membership level or type)

[Intentionally Deleted]

Employee list

Employee benefit information including salary schedules

Building permits, certificates of occupancy, development approvals for structures

Liquor licenses and license tax records

Department of Health inspection reports

Sales tax records for the previous three (3) years

Maintenance logs and service tickets for equipment

Golf course maintenance records

All soils and/or turf testing or reports

M.A.I. Appraisal Report

Permit from Water Management District (Stormwater)

Other applicable permits (FDOT, etc.)

Construction and repair contracts and structures

Equipment Inventories (including golf course and restaurant)

Development Orders and any other development approvals

Invoices for prior three (3) years for all utilities serving golf course and structures, as applicable:

Storm Sewer

Sanitary Sewer

Water

Electricity

Phone and Cable

Gas

Any notices of violation or other non-compliance with federal, state or local law.

[Intentionally Deleted]

Evidence of ADA compliance or related repairs or improvements

Pending Litigation or threatened litigation

Fertilizer and pesticides management plans and inventories

Purchase Orders and invoices for prior three (3) years

EXHIBIT “5.2.1” FORM OF DEED
THIS INSTRUMENT WAS PREPARED BY AND AFTER RECORDING SHOULD BE RETURNED TO:

Jason E. Merritt, Esquire Hopping Green & Sams, P.A.
119 South Monroe Street, Suite 300
Tallahassee, Florida 32301 Tax Parcel I.D. No.:

SPECIAL WARRANTY DEED

THIS  SPECIAL  WARRANTY  DEED  is  made  and  executed  as  of  this    	

day of

 	2019, by 	, a Florida limited  	
 	, whose mailing address is 500 South Florida Avenue, Suite 700, Lakeland, Florida 33801 (“Grantor”), to and in favor of LAKE ASHTON [II] COMMUNITY DEVELOPMENT DISTRICT, whose mailing address is 5385 N. Nob Hill Road, Sunrise, Florida 33351 (“Grantee”).

W I T N E S S E T H:

That the Grantor, for and in consideration of the sum of TEN DOLLARS ($10.00) and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged by these presents does grant, bargain, sell, alien, remise, release, convey, and confirm unto the Grantee those certain parcels of land situated in Polk County, Florida more particularly described as follows, to wit (the “Subject Property”):

See Exhibit A attached hereto and by reference hereto made a part hereof.

TOGETHER WITH all the tenements, hereditaments, easements and appurtenances, including riparian rights, if any, thereto belonging or in anywise appertaining;

TO HAVE AND TO HOLD the Subject Property in fee simple forever.

AND the Grantor does hereby covenant with and warrant to the Grantee that the Grantor has good right and lawful authority to sell and convey the Subject Property; and that the Grantor will defend the same against the lawful claims of all persons claiming by, through or under the Grantor, but against none other.

The conveyance made herein, however, is expressly made SUBJECT TO ad valorem real property taxes and assessments, and the matters set forth on Exhibit B attached hereto, the reference to which shall not operate to reimpose the same.

IN WITNESS WHEREOF, the Grantor has caused these presents to be executed in manner and form sufficient to bind it as of the day and year first above written.

Signed, sealed and delivered in the	 	 presence of the following witnesses:	 	
a Florida limited partnership

Signature of Witness Printed Name of Witness

Signature of Witness

By: Century Properties-RES, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:		 Title:   		

Printed Name of Witness

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me this             day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, a Florida limited liability company, as General Partner of 		, a Florida limited partnership, on their behalf, who is personally known to me or who produced
 	as identification.

(NOTARY SEAL)
Notary Public Signature

(Name typed, printed or stamped)
Notary Public, State of 	 Commission No.: 	 My Commission Expires: 	

EXHIBIT A

Legal Description

[INSERT legal description from Schedule A of the Title Commitment]

EXHIBIT B

[Insert permitted exceptions to title from Schedule    -Section 	of the Title Commitment]

EXHIBIT “5.2.2” FORM OF BILL OF SALE
Bill of Sale, Assignment and Assumption

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, 	, a Florida  	 (“Seller”), does hereby grant, bargain, sell, transfer, convey, assign, and deliver unto LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes (“Buyer”), all of Seller’s right, title and interest in and to the furniture, furnishings, supplies, spare parts, machinery, equipment, tradenames, trademarks, intellectual property and goodwill associated therewith, and all other personal property located on (and used in connection with) the operation of the certain real property described on Exhibit A attached hereto and by this reference herein incorporated (the “Real Estate”), and the improvements located thereon (the “Improvements”) (collectively, the “Personalty”), free and clear of any and all claims, liens or encumbrances of any nature or description created by Seller. Capitalized terms not defined herein shall have the meaning set forth in that certain Contract for Sale and Purchase by and between Seller and Buyer dated
 	(the “Purchase Contract”).

Without limiting the foregoing, the Personalty shall include the following:

Any unexpired warranties in connection with the construction, installation, maintenance and repair of the Improvements and purchase of the Personalty.

All annual golf memberships.

The service or supply contracts relating to the operation of the golf course that are described on the attached Exhibit B.

Any rights of Seller in and to all zoning and development entitlements, permits, licenses, approvals and authorizations granted in connection with the Real Estate, and all plans, specifications, drawings, surveys and reports relating to the Real Estate and Improvements to the extent that Seller has the right and ability to convey such rights.

The Pro Shop Inventory.

Buyer hereby accepts the above assignments and assumes all obligations and liabilities arising out of or relating to any of the above, accruing on and after the date hereof, and, subject to and without waiving the limitations contained in Section 768.28, Florida Statutes, and other applicable laws, the Buyer shall indemnify and hold Seller harmless from and against any and all liabilities and obligations arising out of or relating to any of the above, accruing on and after the date hereof, except for those liabilities and obligations arising as a result of Seller’s negligence or willful misconduct. Seller shall indemnify and hold Buyer harmless from any and all liabilities and obligations arising out of or relating to the above arising or accruing during the period prior to the date hereof.

To have and to hold the Personalty unto Buyer, its successors and assigns forever, and Seller hereby covenants and agrees to warrant and defend title and the sale of the Personalty against all parties claiming an interest in such property due to the acts of Seller.

THE PERSONALTY IS HEREBY CONVEYED TO BUYER IN AN “AS IS,” “WHERE IS,” “WITH ALL FAULTS” CONDITION AND SELLER DOES NOT WARRANT, AND HEREBY EXPRESSLY DISCLAIMS, ANY AND ALL WARRANTIES OF QUALITY, FITNESS AND MERCHANTABILITY RELATING TO ANY OF THE PERSONALTY, INCLUDING, WITHOUT LIMITATION, THE CONDITION OF THE PERSONALTY OR THE FITNESS OF ANY OF THE PERSONALTY CONVEYED HEREBY FOR A PARTICULAR USE OR PURPOSE OR FOR BUYER’S INTENDED USE OR PURPOSE, EXCEPT AS SET FORTH HEREIN

[signature page follows]

IN WITNESS WHEREOF, Seller and Buyer have executed this Bill of Sale as of
 	, 2019.

“Seller”

 	,
a Florida limited  	

By: Century Properties-Res, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:	 Title: 	

“Buyer”

LAKE ASHTON II COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

By:	 Name:	 Title: 	

EXHIBIT A

Description of the Real Estate [Insert from Title Commitment]

EXHIBIT B

List of Service and Supply Contracts to be assigned and assumed:

[NOTE: Buyer to review and confirm in writing during the Limited Inspection Period which contracts it will assume]

1.	[ 	]

2.	[ 	]

EXHIBIT “5.2.3”
FORM OF ASSIGNMENT OF LEASES
Assignment and Assumption of Leases

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, [ 	], a [ 	] (“Assignor”) does hereby transfer, assign and convey to LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes (“Assignee”), all of Assignor’s right, title and interest in and to those certain Equipment Leases identified as follows:
a.
[NOTE: If any lessee refuses to consent to an assignment, the Lease will be excluded from this Assignment per Section 3.2 of the Contract.]
Assignee hereby accepts the above assignment and assumes all obligations, liabilities, and claims arising out of or relating to the Equipment Leases from and after the date set forth below, and, subject to and without waiving the limitations on liability provided by Section 768.28, Florida Statutes, and other applicable law, Assignee shall indemnify and hold Assignor harmless from and against any and all obligations, liabilities, and claims arising out of or relating to the Equipment Leases, arising on or subsequent to the date hereof. Assignor shall indemnify and hold Assignee harmless from any and all liabilities and obligations arising out of or relating to the Equipment Leases arising or accruing during the period prior to the date hereof.

Dated as of 	, 2019

“Assignor”

 	,
a Florida limited  	

By: Century Properties-Res, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:	 Title: 	

“Assignee”

LAKE ASHTON II COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

By:	 Name:	 Title: 	

EXHIBIT “5.2.4”

THIS INSTRUMENT PREPARED BY AND RETURN TO:

ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT RIGHTS AND IMPACT FEE CREDITS

THIS ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT RIGHTS AND
IMPACT FEE CREDITS (the “Assignment”) is made as of the          day of 	, 201 (the “Effective Date”), by LAKE ASHTON GOLF CLUB, LTD., a Florida limited partnership, LAKE ASHTON GOLF CLUB II, LTD., a Florida limited partnership, and ASHTON GOLF- EAGLE’S NEST, LLC, a Florida limited liability company, whose address is 500 South Florida Avenue, Suite 700, Lakeland, Florida 33801 (“Assignor”) in favor of LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, whose address is 5385 N. Nob Hill Road, Sunrise, Florida 33351 (“Assignee”).

WITNESSETH:

WHEREAS, pursuant to that certain Contract for Sale and Purchase with an Effective Date of 	, 2019, between Assignor, as seller, and Assignee, as buyer (the “Contract”), Assignor agreed to sell and Assignee agreed to purchase certain real property located in Polk County, Florida as more particularly described on the attached Exhibit A (the “Property”); and

WHEREAS, Assignor wishes to assign to Assignee any and all of its Development Rights (as hereinafter defined) and any impact fee credits or offsets applicable to the Property.

NOW, THEREFORE, in consideration of TEN DOLLARS ($10.00) and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Assignor and Assignee hereby agree as follows:

Assignment and Assumption. Assignor hereby remises, releases and quit-claims to Assignee all of Assignor’s present and future rights, title and interest, if any, in the Development Rights and any and all impact fee credits, prepaid development fees, or offsets applicable to the Property. Assignee hereby accepts the foregoing assignment of the Development Rights and any and all impact fee credits or offsets applicable to the Property, by Assignor to Assignee. “Development Rights” shall mean all right, title, interest, benefits, and privileges of Assignor in any permits, plans, surveys, reports, studies, approvals, authorizations, licenses, consents, agreements, entitlements, warranties, guaranties, contributions in aid of construction, utility rights and capacity reservations, planned development entitlements, densities, vested rights, concurrency certificates, development plan approvals and land use plan approvals and any other rights to develop the Property.

No Recourse. This Assignment is made without recourse to or representation or warranty by Assignor except that Assignor has not previously conveyed, transferred or assigned any of the Development Rights or impact fee credits or offsets to any third party. Nothing herein is intended to nor shall it be deemed to be an assumption or creation of any liabilities or obligations on the part of Assignor, and Assignor hereby expressly disclaims any such liabilities or obligations.

Further Assurances. Assignor and Assignee will each reasonably cooperate with each other, their employees, and agents, subsequent to the date hereof, to facilitate the purpose and intent of this Assignment including, without limitation, the execution of reasonably requested and mutually agreeable specific assignments and other documentation that may be reasonably required for the transfer of the Development Rights and the impact fee credits or offsets, if any, provided that Assignor shall be put to no expense or exposed to any liability thereby.

Notices. Any notices required by this Assignment shall be addressed to Assignor or Assignee, as applicable, at its address listed above.

Binding Effect. This Assignment shall be binding on and inure to the benefit of the parties and their respective heirs, legal representatives, successors and assigns, and the benefits hereof shall run with title to the Property.

Entire Agreement. This Assignment contains the entire agreement of the parties hereto with respect to the subject matter hereof, and no change of any item or provision of this Assignment shall be valid or binding unless the same shall be in writing and signed by all the parties hereto.

Governing Law. This Assignment shall be governed and interpreted under the laws of the State of Florida. Assignor and Assignee agree that the resolution of any disputes with regard to this Assignment shall lie only in Polk County, Florida. In no event shall either Assignor or Assignee be entitled to a trial by jury on any issues in which a trial by jury is permitted under applicable law.

Counterparts. This Assignment may be executed in any number of counterparts, each of which shall be deemed an original.
IN WITNESS WHEREOF, this Assignment has been executed by the parties as of the date first above written.

Signed, sealed and delivered in the presence of the following witnesses:
LAKE ASHTON GOLF CLUB, LTD.,
a Florida limited partnership

Signature of Witness Printed Name of Witness

Signature of Witness

By: Century Properties-RES, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:		 Title:   		

Printed Name of Witness

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me this             day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, a Florida limited liability company, as General Partner of Lake Ashton Golf Club, Ltd., a Florida limited partnership, on their behalf, who is personally known to me or who produced
 	as identification.

(NOTARY SEAL)
Notary Public Signature

(Name typed, printed or stamped)
Notary Public, State of 	 Commission No.: 	 My Commission Expires: 	

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

Signed, sealed and delivered in the presence of the following witnesses:

Signature of Witness Printed Name of Witness

LAKE ASHTON GOLF CLUB II, LTD.,
a Florida limited partnership

By: Century Properties-RES, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:		 Title:   		

Signature of Witness

Printed Name of Witness

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me this             day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, a Florida limited liability company, as General Partner of Lake Ashton Golf Club II, Ltd., a Florida limited partnership, on their behalf, who is personally known to me or who produced
 	as identification.

(NOTARY SEAL)
Notary Public Signature

(Name typed, printed or stamped)
Notary Public, State of 	 Commission No.: 	 My Commission Expires: 	

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

Signed, sealed and delivered in the presence of the following witnesses:

Signature of Witness Printed Name of Witness

Signature of Witness

ASHTON GOLF-EAGLE’S NEST, LLC,
a Florida limited liability company

By: Century Properties-RES, LLC, a Florida limited liability company
As its: Manager

By:	 Name:		 Title:   		

Printed Name of Witness

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me this             day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, a Florida limited liability company, as Manager of Ashton Golf-Eagle’s Nest, LLC, a Florida limited liability company, on their behalf, who is personally known to me or who produced
 	as identification.

(NOTARY SEAL)
Notary Public Signature

(Name typed, printed or stamped)
Notary Public, State of 	 Commission No.: 	 My Commission Expires: 	

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

ASSIGNEE:

Print Name: 	

Print Name: 	

LAKE ASHTON II COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

By:	 Name:		 Title:   		

STATE OF 	)
) SS: COUNTY OF 	)

This  instrument  was  acknowledged  before  me  on  this    day of 	, 2019,  by 	,  as 	of the Lake Ashton II Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, on its behalf.  He/She is personally known to me or produced  		
 	license as identification.

Notary Public, State of Florida
Print Name: 	 My commission expires: 	

EXHIBIT A TO ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT RIGHTS

Legal Description of Property

(Reserved for Clerk of Court)

EXHIBIT “5.2.5”

This instrument prepared by, or under the supervision of (and after recording, return to):

ASSIGNMENT OF DECLARATION RIGHTS
(Lake Ashton Golf Club)

THIS ASSIGNMENT OF DECLARATION RIGHTS (“Assignment”) is made as of the  	
day of	, 2019 by LAKE ASHTON GOLF CLUB, LTD., a Florida limited

partnership, whose mailing address is 500 South Florida Avenue, Suite 700, Lakeland, Florida

33801 (“Assignor”) to
at 	(“Assignee”).

, a 	having an address

R E C I T A L S:

Assignor is the owner of that certain Golf Course Tract as the same is more particularly defined in that certain Master Declaration of Covenants, Conditions and Restrictions for Lake Ashton Golf Club recorded February 15, 2002, in Official Records Book 4928, Page 1653 of the public records of Polk County, Florida (including all exhibits thereto, and all amendments thereof, collectively, the “Declaration”). Any and all initial capitalized terms used, but not defined, herein shall have the meanings given to them in the Declaration.

Pursuant to the provisions of that certain Contract for Sale and Purchase (Lake Ashton Golf Club) dated 	, 2019 (the “Contract”), Assignor has agreed to convey the Golf Course Tract to Assignee and has further agreed to assign to Assignee, and Assignee desires to accept an assignment of certain rights Assignor under the Declaration pertaining to the ownership and operation of the Golf Course Tract as more particularly set forth herein, subject to the terms and conditions set forth in this Assignment.

NOW, THEREFORE, for Ten and No/100 Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee hereby agree:

The foregoing recitals are incorporated herein as if repeated at length.

Assignor hereby remises, releases and quit-claims to Assignee, and Assignee hereby accepts from Assignor, all rights of Assignor, if any, as the Owner of the Golf Course Tract arising pursuant to the provisions of the Declaration including, but not limited to, the provisions of Sections 1.13, 3.2, 5.2, 5.7, 7.1, 7.5, 7.6, 13.4, and 15.13 (collectively, the “Restrictive Covenant Rights”).

Assignor represents and warrants that Assignor has not previously assigned, pledged, encumbered or created any liens upon any or all of its interest in the Restrictive Covenant Rights.

Nothing contained in this Assignment shall constitute Assignee as a partner with, or agent for, Assignor, or constitute Assignor as a partner with, or agent for, Assignee. In no event shall Assignee or Assignor owe any sort of fiduciary duty or obligation to the other.

[Signatures appear on the next page]

IN WITNESS WHEREOF, Assignor has caused this Assignment to be executed as of the day and year first above written.

Signed in the presence of:

Name: 	

ASSIGNOR:

LAKE ASHTON GOLF CLUB, LTD., a Florida
limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title: 	

Name: 	

ASSIGNEE:

By:	 Name:	 Title:   	

Name: 	

Name: 	

STATE OF FLORIDA	)
) SS:
COUNTY OF 		)

The  foregoing  instrument  was  acknowledged  before  me  this         day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, as General Partner of Lake Ashton Golf Club, Ltd., a Florida limited partnership, on their behalf. He/she is personally known to me or produced 		as identification.

(Notarial Seal)

Name:	 Notary Public, State of Florida
My Commission Expires:  	 Commission No.:  	

STATE OF 	)
) SS: COUNTY OF 	)

The foregoing instrument was acknowledged before me this 	day of 	,
201    ,	by	 	,	as	 	of	the	 	,
 	, on its behalf. He/she is personally known to me or produced  	 as identification.

(Notarial Seal)

Name:	 Notary Public, State of Florida
My Commission Expires:  	 Commission No.:  	

(Reserved for Clerk of Court)

This instrument prepared by, or under the supervision of (and after recording, return to):

ASSIGNMENT OF DECLARATION RIGHTS
(Ashton West)

THIS ASSIGNMENT OF DECLARATION RIGHTS (“Assignment”) is  made  as  of  the day of 	, 2019 by LAKE ASHTON GOLF CLUB II, LTD., a Florida limited partnership, whose mailing address is 500 South Florida Avenue, Suite 700, Lakeland, Florida 33801 (“Assignor”) to LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT, a
local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, having an address at 5385 N. Nob Hill Road, Sunrise, Florida 33351 (“Assignee”).

R E C I T A L S:

Assignor is the owner of that certain Golf Course Tract as the same is more particularly defined in that certain Master Declaration of Covenants, Conditions and Restrictions for Ashton West recorded April 14, 2005, in Official Records Book 6163, Page 1097 of the public records of Polk County, Florida (including all exhibits thereto, and all amendments thereof, collectively, the “Declaration”). Any and all initial capitalized terms used, but not defined, herein shall have the meanings given to them in the Declaration.

Pursuant to the provisions of that certain Contract for Sale and Purchase (Lake Ashton Golf Club) dated 	, 2019 between Assignor and Assignee (the “Contract”), Assignor has agreed to sell the Golf Course Tract to Assignee and has further agreed to assign to Assignee, and Assignee desires to accept an assignment of certain rights Assignor under the Declaration pertaining to the ownership and operation of the Golf Course Tract as more particularly set forth herein, subject to the terms and conditions set forth in this Assignment.

NOW, THEREFORE, for Ten and No/100 Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee hereby agree:

The foregoing recitals are incorporated herein as if repeated at length.

Assignor hereby remises, releases and quit-claims to Assignee, and Assignee hereby accepts from Assignor, all rights of Assignor, if any, as the Owner of the Golf Course Tract arising pursuant to the provisions of the Declaration including, but not limited to, the provisions of Sections 1.13, 3.2, 5.2, 5.7, 7.1, 7.5, 7.6, 13.4, and 15.13 (collectively, the “Restrictive Covenant Rights”).

Assignor represents and warrants that Assignor has not previously assigned, pledged, encumbered or created any liens upon any or all of its interest in the Restrictive Covenant Rights.

Nothing contained in this Assignment shall constitute Assignee as a partner with, or agent for, Assignor, or constitute Assignor as a partner with, or agent for, Assignee. In no event shall Assignee or Assignor owe any sort of fiduciary duty or obligation to the other.

[Signatures appear on the next page]

IN WITNESS WHEREOF, Assignor has caused this Assignment to be executed as of the day and year first above written.

Signed, sealed and delivered in the presence of the following witnesses:
LAKE ASHTON GOLF CLUB II, LTD.,
a Florida limited partnership

Signature of Witness Printed Name of Witness

Signature of Witness

By: Century Properties-RES, LLC, a Florida limited liability company
As its: General Partner

By:	 Name:		 Title:   		

Printed Name of Witness

STATE OF FLORIDA COUNTY OF  	

The foregoing instrument was acknowledged before me this             day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, a Florida limited liability company, as General Partner of Lake Ashton Golf Club II, Ltd., a Florida limited partnership, on their behalf, who is personally known to me or who produced
 	as identification.

(NOTARY SEAL)
Notary Public Signature

(Name typed, printed or stamped)
Notary Public, State of 	 Commission No.: 	 My Commission Expires: 	

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

Signed in the presence of:

Name: 	

ASSIGNOR:

LAKE ASHTON GOLF CLUB II, LTD., a
Florida limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title: 	

Name: 	

ASSIGNEE:

LAKE	ASHTON	II	COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes

Name: 	

By:	 Name:	 Title: 	

Name: 	

STATE OF FLORIDA	)
) SS:
COUNTY OF 		)

The  foregoing  instrument  was  acknowledged  before  me  this         day of 	, 2019, by 	, as 	of Century Properties-RES, LLC, as General Partner of Lake Ashton Golf Club II, Ltd., a Florida limited partnership, on their behalf. He/she is personally known to me or produced 		as identification.

(Notarial Seal)

Name:	 Notary Public, State of Florida
My Commission Expires:  	 Commission No.:  	

STATE OF 	)
) SS: COUNTY OF 	)

The foregoing instrument was acknowledged before me this 	day of 	,
201    ,  by 	,  as 	of   the   Lake   Ashton II
Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, on its behalf. He/she is personally known to me or produced 	as identification.

(Notarial Seal)

Name:	 Notary Public, State of Florida
My Commission Expires:  	 Commission No.:  	

EXHIBIT “5.2.13”

Form of Golf Membership Assignment

This form will be substantially similar to the form of Assignment of Leases, Exhibit 5.2.3, except that it will describe with particularity the golf memberships to be assigned and assumed, as identified during the Limited Inspection Period.

EXHIBIT “5.2.14”

Form of Seller’s Representations and Warranties Certificate

Lake Ashton Golf Club II, Ltd. Ashton Golf-Eagles Nest, LLC

CERTIFICATION OF REPRESENTATIONS AND WARRANTIES

Except as set forth on Schedule A attached hereto, the undersigned Lake Ashton Golf Club, Ltd., a Florida limited partnership, Lake Ashton Golf Club II, Ltd., a Florida limited partnership, and Ashton Golf-Eagle Nest, LLC, a Florida limited liability company (collectively, “Seller”), do hereby, respectively, certify to Lake Ashton II Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statues (“Buyer”), that all representations and warranties of Seller set forth in Section 7.1 of that certain Contract for Sale and Purchase dated
 	, 2019, by and between Seller and Buyer (the “Agreement”), are true, correct and complete as of the date hereof.
[Signatures on following page]

Executed this 	day of 	, 2019.

SELLER:

LAKE ASHTON GOLF CLUB, LTD., a Florida
limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title: 	

LAKE ASHTON GOLF CLUB II, LTD., a Florida
limited partnership

By: Century Properties-RES, LLC As its: General Partner

By:	 Name:	 Title: 	

ASHTON GOLF-EAGLES NEST, LLC, a Florida
limited liability company

By: Century Properties-RES, LLC As its: Manager

By:	 Name:	 Title: 	

Schedule A

[Note:	To be completed by Seller with” None” or with a description of any qualifications to Seller representations discovered pending closing]

EXHIBIT “31”

Depiction of Storage and Maintenance Area

 	

LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT

	Check Run Summary GF		
	8/15/19 · 9/12/19		
Date	Check Numbers	Amount	
8/19/2019	2603-2615	$43,489.78	
8/23/2019	2616-2622	$22,394.37	
9/4/2019	2623-2635	$62,622.63	
9/10/2019	2636-2644	$21, 185.43	
9/12/2019	2645-2651	$2,312.54	
Total	
Check Run Summary CR	$152,004.75	
Date	Check Numbers	Amount	
8/19/2019	53-54	$7,942.49	
8/23/2019	55	$3,450.00	
9/12/2019	56	$3,450.00	
Total		$14,842.49	

* * * 

AP3 00R
CHECK NOS . 002603 -050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGISTER LAKE ASHTON II - GENERAL FUND
BANK A LAKE ASHTON II - GF

RUN	9/12/19	PAGE	1

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

STATUS

AMOUNT	. . . . CHECK . . . . .  

AMOUNT	#

8/19/19 00051 

7/31/19 30 950005 201907 32 0-5 7200- 43100 

*	501 . 72

- - - - - - - - -

POOL  HEAT
- - - - - - - - - - - - - -

- - -

AMERIGAS - -

- - - -

- - -

-  -  -  -  -  -	- -

-  -   -  -  -  -  -   -  -  - 5 0- 1 -. 7 2-  002603

8/19/19 00092 

6/30/19  178359	20190 6 32 0-57200-46500 
MONTHLY SVCS 7/19 
6/3 0/19  1783 60	201906 32 0-57200-46500 
MONTHLY SVCS 6/19
7/31/19  179003	201907 320- 57200-46500 

*	725 . 0 0
*	150 . 0 0
*	725 . 0 0

7/31/19 

MONTHLY SVC 7/19 
179004	201907 32 0-57200-46500 

*	150 . 0 0

MONTHLY SVC 7/19 

APPLIED AQUATIC MANAGEMENT ,

INC .	- -

-  -   -  -   -  -  -   -  - 1 -, 7 5- 0 -. 0 -0   002604 

8/19/19 00200 

8/19/19 00061 

8/19/19  00084 

8/19/19 00003

8/19/19 00058 

7/31/19 LAKE ASH 201907 310-51300- 49200 DISCOV SESSI ON PEER REVIE
8/13/19  LAKE  ASH  201908  310-51300- 49200 
MEETING TRAVEL	BI LLY CASPER GOLF LLC 8/08/19 19114 08 201908 320 -5 72 00- 46105 
EQUIPMENT PTS  DOWNPAYMENT	COMMERI CAL FITNESS
8/01/19 AR442683 201908 32 0-57200-51000 
TONER	DEX IMAGING
8/06/19 6-634-16 201908 310-51300- 42000 
POSTAGE	FEDEX
8/01/19  24	201908 310-51300-34000 

*	1, 435 . 0 0
*	250 . 0 0

-  -  -  -  -  -  -  -  -  -   - 1 -, 6 8- 5 -. 0 0-
*	282 . 7 9

- 2 8- 2 -. 7 9-	002606 	
533 . 64	002607 	
20 . 99	002608 	

- - - - - - - - - - -
*	533 . 64
- - - - - - - - - -
*	20 . 99
- - - - - - - - - -
*	3 , 750 . 0 0

002605

8/ 01/19 
8/ 01/19 
8/01/19 

MANAGEMENT FEES 8/2019 
24	201908 310-51300-35100 
INFORMAT ION TECHNOLOGY
24	201908 310- 513 00- 31300 
DISSEMINATION AGENT SVCS
24	201908 310- 513 00-42000 

*	83 . 3 3

*	500 . 0 0
*	20.7 5

8/01/19 

POSTAGE 24 

20190 8 310-51300-42500 

*	55 . 6 5

8/19/19 00173

COPIES	GMS- CENTRAL FLORIDA , LLC 7/30/19 LH343040 201907 310-51300-48000 

1ST&2ND PRINT FY2019/2020 

LKA2   LAKE  ASHTON  2	SROS INA

-  -  -  -   -  -  -  -  -   -  - 4 -, 4 -0 9 -. 7 3-
*	1, 0 80 . 0 0

002609 

AP3 00R
*** CHECK NOS . 002603-050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGI STER LAKE ASHTON II - GENERAL FUND
BANK A LAKE ASHTON II - GF

RUN	9/12/19 

PAGE	2

CHECK   VEND#	. . . . . INVOICE . . . . .   . . . EXPENSED  TO . . .		VENDOR NAME DATE		DATE	INVOI CE	YRMO	DPT ACCT#  SUB	SUBCLASS
7/3 1/19 L06 0G01Y 20 1907  310-513 0 0-48000 
SPECIAL MEETING NOTICE	LAKELAND LEDGER PUBLI SHING

STATUS

*

AMOUNT 65 . 7 5

. . . . CHECK . . . . .  
AMOUNT	#

1, 145 . 7 5 002610 

8/19/19 00201 

7/24/19 000 013 7 20 1907 320 -57200-46220 

*	600 . 0 0

REMOVAL OF PALM TREE

OUTS TAND ING TREE SERVI CE

600 . 00 002611 

- - - - - - - - -

- - - - - - - -

20 1908 30 0-36300-10000	*

8/19/19 00 055 

8/07/19 4651667 

ASSESSMENTS

13 , 1 04 . 1 6

8/ 07/19 

SPECIAL 4651667 

SPECIAL

201908 3 0 0-20700 -10100 
ASSESSMENTS

*	4 , 5 74 . 74
*

8/07/19 46 51667 

201908 3 0 0-20700-10300 

3 , 3 46 . 6 0

SPECIAL ASSESSMENTS	*

8/07 /19  4651667	201908 700-36300-10000 

4 , 5 74 . 74

SPECIAL ASSESSMENTS	*

8/07/19  4651667	201908 700-13100-10000 

4 , 5 7 4 . 74- 

SPECIAL ASSESSMENTS	*

8/07/19  4651667	201908 700-36300- 102 00 

3 , 3 46 . 6 0

SPECIAL ASSESSMENTS	*

8/07/19  4651667	20 1908 700-13100-10000 

3 , 3 46 . 60- 

8/19/19  00107 

8/19/19  00152 

8/19/19  000 48 

8/23/19 00051 

8/23/19  00076 

SPECIAL ASSESSMENTS	POLK COUNTY PROPERTY APPRAISER

8/13/19  08132019 20 1908  320 -572 00- 46400	*
MAIN POOL PUMP	POOL & PAT IO CENTER

8/08/19 E4 44 5514  20 1908  320 -5720 0-345 00	*

*

SECURITY 08/02  THRU  08/08 8/15/19 E4448343 20 1908 320- 57 200- 345 00 

SECURITY   08/09  THRU 08 /15	SECURITAS SECURITY SERVI CES USA, INC
8/12 /19  188695	20 1908 320- 57 20 0-49000	*
REPLACE  PULL  STATION	THE HARTLINE ALARM COMPANY , INC .

8/14/19  30 954889 201908 320 -57 2 00-43100	*
POOL HEAT	AMERIGAS
8/12/19  050183 00 201908 320- 572 00- 41000	*
TELE/ CABLE   8/11-9/10 /19	BRIGHT HOUSE NETWORKS
LKA2  LAKE  ASHTON  2	SROS INA

1 , 449 . 0 0

4 , 671 . 8 8
4 , 671 . 8 8

741 . 9 0

367 . 9 9

711 . 51 

21, 025 . 5 0 002612

1 , 4 49 . 0 0  00 2613

9, 343 . 7 6 002614

741 . 9 0  00 26 15 

367 . 9 9  00 26 16 

711 . 5 1  002 617 

 	

AP3 00R
*** CHECK NOS . 002603 -050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGISTER LAKE ASHTON II - GENERAL FUND
BANK A LAKE ASHTON II - GF

RUN	9/12/19 

PAGE	3

CHECK   VEND#	. . . . . INVO ICE . . . . .    . . . EXPENSED  TO . . .		VENDOR NAME DATE		DATE	INVOI CE	YRMO	DPT  ACCT#  SUB	SUBCLASS

STATUS

AMOUNT

. . . . CHECK . . . . .  
AMOUNT	#

8/23/19  00064

8/23/19  00 003 

8/23/19 00126 

8/23/19 00062

8/23/19  00 119 

9/04/19  00140 

9/04/19 00068 

9/04/19 00003

9/04/19 00070 

9/04/19 00069

9/04/19 00086 

8/16/19  082019	201907 320-57200- 432 00	* WATER  SVCS  07/02-7/30	CITY OF WINTER HAVEN
8/13/19  6-705- 44  201908  310- 513 00-42000	*
POSTAGE	FEDEX
8/19/19  CDD  II-3  201906 32 0-57200- 46010	*

*

SVCS 6/2019 
8/19/19 CDDII-33 201907 320- 57200-46010 
7/2019  SVCS	MAGIC GENIE CLEANING SERVICES , INC .
8/13/19  08132019  201908 320-57200-43000	*
ELECTRIC   8/2019	TAMPA ELECTRIC COMPANY
8/08/19  500 68360   201908  32 0-5720 0-51000	*
COPIER  LEASE   8/ 24-9/23	WELLS FARGO VENDOR FIN SERV
8/27/19  08272019  201908  320- 57200-34100	*
IT  SVCS   7/19- 8/19	RYAN A BUSWELL
8/30/19  082019	201908 320- 57200-34100	*
EXCERCISE   INSTRUCTOR   8/19	PAULETTE EDMONDS
8/20/19  6- 7111-6  201908  310- 513 00- 42 000	*
POSTAGE	FEDEX
8/09/19  84045 0-1  201908  32 0-57200- 34800	*
SVC   08/ 09/19	FLORIDA PEST CONTROL
8/20/19  082019	201908 320- 57200-34100	*
EXCERCISE   INSTRUCTOR   8/19	LAURIE HEVERLY
7/22/19  52286	201907 320-5720 0-46030	*

*

SUPPLIES
7/25/19  7052586	201907 320- 57200-34530 
SUPPLIES

3 , 192 .4 9

49 . 6 8

3 , 2 80 . 0 0
3 , 2 80 . 0 0

11, 374 . 02

13 8 . 6 8

385 . 0 0

40 0 . 0 0

36 . 96 

12 8 . 0 0

1, 000 . 0 0

75 . 05
20. 77 

3 , 192 . 4 9  002618 

4 9 . 6 8  002619 

6 , 5 60 . 0 0 002620 

11,374 . 02  002621 

13 8 . 68  002622 

385 . 0 0  002623 

400 . 0 0  002624 

36. 96  002625 

128 . 0 0  002626 

1, 000 . 0 0  002627 

LKA2   LAKE  ASHTON  2	SROS INA

AP3 00R
*** CHECK NOS . 002603 -050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGISTER LAKE ASHTON II - GENERAL FUND
BANK A LAKE ASHTON II - GF

RUN	9/12/19 

PAGE	4

CHECK   VEND#	. . . . . INVO ICE . . . . .    . . . EXPENSED  TO . . .		VENDOR NAME DATE		DATE	INVOICE	YRMO	DPT  ACCT#  SUB	SUBCLASS
7/30/19  1053246	201907 32 0-57200- 34530 
SUPPLIES
8/13/19  8054660	201908 32 0-57200-46020 

SUPPLIES	HOME DEPOT CREDIT SERVICES

S TATUS

*
*

AMOUNT

40.2 2
159 .7 6

. . . . CHECK . . . . .  
AMOUNT	#

295 . 8 0 002628 

9/04/19  00191 

9/04/19  00101 

9/04/19 00080 

9/04/19  00 152 

9/04/19  00048 

9/04/19  00 094 

7/31/19  109278-7  201907  310-51300- 31500	*

*

ATTORNEY FEES THRU 7/2019 8/20/19 109279-7 201907 310-51300- 49200 
ATTORNEY   FEES  THRU   7/2019	HOPPING GREEN & SAMS ATTORNEYS

9/01/19  10129559  201908  320- 57200-46400	*
WATER MANAGEMENT	POOLSURE
8/14/19  0654-000  201908 320-57200-34900	*
REFUSE  SVC   9/01-9/30/19	REPUBLIC SERVICES #654 
8/22/19  E4452433  201908  32 0-57200-34500	*

*

SECURITY    8/16-8  /22/2019 8/29/19 E44 57001 20190 8 320- 57200-34500 

SECURITY   8/23 THRU  8/29	SECURITAS SECURITY SERVI CES  USA, INC 8/16/19  189403	201908 320-57200-49000	*

*

REPL/INSTALL SMOKE HEAD
8/27/19  189553	201908 320-57200- 34510 

*

GATE MAINTENANCE 8/19 
9/02/19  1895 06	201908 32 0-5720 0-49000 
REPAIRS  VOICE  PANEL	THE HARTL INE ALARM COMPANY , INC .

8/23/19  8127  560  201908  32 0-57200-46020	*

*

PURCHASES  7/25  THRU   8/15 8/23/19  8127  560  201908  320-57200-46030 

*

PURCHASES  7/25  THRU   8/15 8/23/19  8127  560  201908  320-57200-51000 

*

PURCHASES  7/25  THRU  8/15 8/23/19  8127  560  201908  300- 13 100-10000 

*

PURCHASES  7/25  THRU  8/15 8/23/19  8127  560  201908  600-53800-6 8019 

*

PURCHASES  7/25  THRU   8/15 8/23/19  8127  560  201908 600- 20 700-10000 

WELLS  FARGO

LKA2   LAKE  ASHTON  2	SROS INA

4 , 545 . 63
27 , 244 . 8 9

550 . 8 0

193 . 0 6

4 , 67 1 . 8 8
4 , 7 96 . 8 8

296 . 50 
130 . 0 0
4 , 790 . 0 0

337 . 83
50 . 6 8
153 .2 5
147 . 64
147 . 64
147 . 64- 

31, 790 . 52  002629 

550 . 8 0  002630 

193 . 0 6  002631 

9,4 68 . 7 6 002632 

5 , 2 16 . 5 0  002633 

689 .40 002634 

AP3 00 R
*** CHECK NOS . 00 26 03 -050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGI STER LAKE ASHTON II - GENERAL FUND
BANK A LAKE ASHTON II - GF

RUN	9/12 /19 

PAGE	5

CHECK  VEND#	. . . . . INVOI CE . . . . .   . . . EXPENSED  TO . . .		VENDOR NAME DATE		DATE	INVO I CE	YRMO	DPT ACCT# SUB	SUBCLASS

S TATUS

AMOUNT

. . . . CHECK . . . . .  
AMOUNT	#

9/04/19  00067 

9/10/19  000 51 

9/10/19 00003

9/10/19  00070 

9/10/19  00058 

9/10/19  0013 6 

9/10/19  00135 

8/15/19 OS 46278 20 1908 320 -57 200- 46200 
LANDS CAPE MAINTENACE  8/19	YELLOWSTONE LANDS CAPE
8/29/19 30 959224 201 908 320-5 72 00-43100 
POOL HEAT	AMERI GAS
8/27/19 6- 719-29 20 1908 310-513 0 0-4 2000 
POS TAGE
9/03/19 6- 72 6-86 20 1908 310-51300- 42 000 
POSTAGE	FEDEX
8/31/19  8 40450	20 1908 320-57 20 0-34800 
SVCS  08/ 09/19	FLORIDA PEST CONTROL 9/01 /19  25	201 909 310-5 13 00-34000 
MANAGEMENT FEES 9/19 
9/01 /19  25	201 909 310-513 0 0- 35100 
INFORMATI ON TECHNOLOGY
9/01 /19  25	20 1909 310-51300- 313 00 
DISSEMINAT ION AGENT SVCS 9/01/19  25	20 1909 31 0-51300- 425 00 
COPIES 
9/ 01/19  2 5	20 1909 31 0-51300- 41 000 
TELEPHONE	GMS - CENTRAL FLORIDA , LLC 8/13/19  48129	201908 32 0-5720 0-46020 
BUILDING MAINT	JURIN ROOFING SERVI CES , INC .
9/09/19  9 5791	201 909 32 0-57200- 49000 
RPLC  CAM SYST H/FIT CNTR 9/09/19  95791	20 1909 320 -5720 0-4 9000 
TWO ADDL NEW CAM LOCATION 9/09/19  95791	20 1909 320- 57 200 -4 9000 
RPLC CAM SYST GUARD SHACK
9/ 09/19  95791	201909 320 -572 00-49000 

*

*	-  -  -

*	-  -  -
*

*	-  -  -

*	-  -  -
*
*
*
*

*	-  -  -

*	-  -  -
*
*
*

12 , 4 67 . 8 3
-  -  -  -  -  -   -
406 . 9 9
-  -  -  -  -  -   -
13 1 . 72 
32 . 3 0 
-  -  -  -   -  -  -
12 8 . 0 0
-  -  -  -  -  -   -
3 , 7 50 . 0 0
83 . 3 3
500 . 0 0
15 . 9 0
48 . 0 2
-  -  -  -  -  -   -
397 . 3 9
-  -  -  -  -  -   -
3 , 9 90 . 04
984 . 0 0
1, 048 . 4 5
30 0 . 0 0

1- 2 -, 4 -6 7 -. 8 3-

-  - 4 0- 6 -. 9 9-

-  - 1 6- 4 -. 0 2-
-  - 1 2- 8 -. 0 0-

- 4 -, 3 9- 7 -. 2 5-

-  - 3 9- 7 -. 3 9-

002635 

002636 

00 2637 

00 2638 

00 2639 

002640 

9 /1 0/19 00 107 

RPLC  BAD POWER SUPPLY	KINCAID ELECTRI CAL SERVICES INC 8/07/19 10218281 201908 3 0 0-1 3100-10000 
SALES # 1
LKA2   LAKE ASHTON 2	SROS INA

*	- - -

- - - - - - -
13 6 . 9 9

- 6 -, 3 2- 2 -. 4 9-  00 26 41 

AP3 00 R
*** CHECK NOS . 00260 3- 05 0000 

YEAR-TO - DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGI STER LAKE ASHTON II - GENERAL FUND

BANK A LAKE ASHTON II - GF

RUN	9/12/19 

PAGE	6

CHECK  VEND#	. . . . . INVOI CE . . . . .   . . . EXPENSED  TO . . .		VENDOR NAME DATE		DATE	INVOI CE	YRMO	DPT ACCT#  SUB	SUBCLASS
8/07/19 10218281 20 1908 600- 53 800- 68015
SALES  #1 
8/07/ 19 10218281 20 1908 60 0-20700-10000 
SALES  #1 
8/13 /19 10105247 20 1908 320- 5720 0-49 000 

STATUS

*
*
*

AMOUNT

13 6 . 9 9
13 6 . 9 9- 
949 . 0 0

. . . . CHECK . . . . .  

AMOUNT	#

9/10/19 00150 

9/10/19  00 152 

SALES  #2		POOL & PATIO CENTER 8/31 /19  1710132	20 1908 310-51300- 31100 

SVCS THRU 8/31/19 
8/3 1/19  1710132	20 1908 300- 13 100-10000 
SVCS THRU 8/31/19 
8/31/19  1710132	20 1908 600- 53800-64000 
SVCS THRU 8/31/19 
8/31/19  1710132	20 1908 600-20700-10000 

SVCS  THRU  8/31/19	RAYL ENGINEERING & SURVEYING , LLC 9/05/19 E44 63307 201908 320-57200- 34500 

*	-  -
*
*
*

*	-  -

-   -  -

-   -  -

- - - - -
1, 612 . 3 7
1, 70 0 . 0 0
1 , 7 00 . 0 0
1, 700 . 00- 
-   -   -   - -
4 , 9 70 . 9 3

- 1 -, 0 8- 5 -. 9 9-   00 2642 

- 3 -, 3 1- 2 -. 3 -7   0026 43 

9/12/19 000 92 

SVCS   08/ 3 0   THRU 09/ 05/19	SE CURI TAS SECUR ITY SERVICES USA, INC 8/31/19  179672	201 908 32 0-57200- 46500 

*	- - - - -

-   -   -   - -
970 . 0 0

- 4 -, 9 -70 -. 9 3-

002 644 

9/12/19 00081 

9/12/19 00140 

9/12/19 00170 

9/12/19 00036 

MONTHLY MAINT	APPLIED AQUATIC MANAGEMENT , INC .

9/01 /19 092 019	201 909 320- 57200-23000 
HEALTH   INS   SUPP  9/2 019	MARY BO SMAN

9/11/19  092 019	20 1909 320-57200- 34100 
IT  SVCS  9/2019	RYAN A BUSWELL
8/20/19 08/2 019- 20 1908 32 0- 57200-46050 
MILEAGE REIM 8/19- 9/19 
8/3 0/19  082 019	20 1908 310 -5130 0-490 00 
REIM SVC CHARGE WIRE TRAN
9/01 /19  092019	20 1909 320-57 200- 23000 

HEALTH   INS  SUPP  9/2019	JAMES MARGESON
9/10/19  16346	20 1909 320- 57 200- 4602 0

REPAIRS  SPLIT  UNIT	TRADITION CENTRAL AIR , INC .

LKA2   LAKE ASHTON 2	SROS INA

*	-  -
*	-  -
*	-  -
*
*

*

-   -  -

-   -  -

-   -  -

- - - - - -
250 . 0 0
- - - - - -
31 5 . 0 0
- - - - - -
40 . 3 3
15 . 0 0
250 . 0 0

94 . 0 0

- 9 -70 -. 0 -0   002 645 

- 2 5- 0 -. 0 -0   00 2646 

- 3 1- 5 -. 0 -0   002647 

3 0 5 . 3 3  00 2648 

94 . 0 0  00 2649 

AP3 0 0R
*** CHECK NOS . 002603 -050000 

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGI STER LAKE ASHTON II - GENERAL FUND

#

BANK A LAKE ASHTON II - GF

RUN	9/12/19 

PAGE	7

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

AMOUNT

AM.  . O. U. NCHTE CK . . . . .  

9/12/19 00087 

9/12/19 00195 

9/01 /19 092 019	201909 320-5 72 00-23 000 
HEALTH  INS  SUPP 9/2 019	KAREN VANKIRK
9/01 /19 092 019	20 1909 320- 57200 -23 000 
HEALTH  INS SUPP 9/2019	CHARLES W YEAGER III 

*	12 8 . 21 

*	250 . 0 0

12 8 .21 002650 

250 . 0 0 00 2651 

LKA2  LAKE ASHTON 2	SROSI NA

TOTAL	FOR BANK A	15 2 , 004 . 7 5	
TOTAL	FOR REGISTER	15 2 , 004 . 7 5	

AP3* 0 0R

YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/ COMPUTER CHECK REGI STER

RUN	9/12/19 

PAGE	1

**	CHECK NOS . 0000 53 -050000 

LAKE ASHTON II - CAPITAL PROJC BANK B LAKE ASHTON II - CR

CHECK  VEND#	. . . . . INVOICE . . . . .   . . . EXPENSED  TO . . .		VENDOR NAME	S TATUS DATE		DATE	INVOICE	YRMO	DPT ACCT#  SUB	SUBCLASS

AMOUNT

. . . . CHECK . . . . .  
AMOUNT	#

8/19/19 00007 

8/19/19 00021 

8/23/19 00006 

9/12/19 00006 

7/02/19 1919 0	20 1907 600-5 38 00-64000	* CURB REPLACEMENT	EVOLVE CONTRACTING , INC

7/19/19  3190	201907 600-53800 -68026	*
HANDICAP ENTRANCE DOOR	SOUTHERN ELCTRIC & CONTRUCTION INC .
8/ 07/19  1548	20190 8 600-5 3800-6 8027	*
SHUTTERS DEPOS IT	BLACKBURN ' S INTERIORS , INC .
9/10/19 1593 6	201909 600-5 3800-6 8027	*
SHUTTERS  INSTALLED	BLACKBURN ' S INTERIORS , INC .

7 , 5 00 . 0 0

442 . 4 9

3 , 4 50 . 0 0

3 , 4 50 . 0 0

7, 500 . 0 0  0000 53 

442 .49 00 0054 

3 , 4 50 . 0 0  00 0055 

3 , 4 50 . 0 0  00 0056 

TOTAL	FOR	BANK B	14 , 8 42 .4 9	
TOTAL	FOR	REGI STER	14 , 8 42 .4 9	

LKA2  LAKE ASHTON 2	SROSI NA

LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT

Date
Received

11/13/2018
11/20/2018
11/21/2018
11/30/2018
12/11/2018
12/27/2018
1/14/2019
1/31/2019
2/15/2019
3/15/2019
4/15/2019
4/26/2019
5/15/2019
6/17/2019
6/19/2019
7/25/2019
8/7/2019

Collection Period

10/1/18-10/31/18  $
6/1/18-10/31/18    $

ll/05/18-11/11/18 $ ll/12/18-11/21/18 $ ll/22/18-11/30/18 $ 12/01/18-12/31/18 $

11/1/18-11/04/18

$

O&M Receipts

5,656.47 $
7,644.46  $
18,854.90 $
139,526.26 $
207,403.90  $
357,399.76 $
471,972.68 $
$
24,511.37 $
5,656.47 $
58,590.86 $
$
1,885.49 $
3,770.98  $
7,541.96 $
$
$

O&M
Interest

Debt Svc	Debt Svc
Receipts	Interest

$
$
$
$
$

$ 311,368.65  $	$

$ 214,368.16 $

$

01/01/1/-01/31/19   $
02/01/19-02/28/19   $
03/01/19-03/31/19  $

INTEREST

$

1,527.81 $

$  16,384.40  $	$

$ 908.59 $

04/01/19-04/30/19  $
05/01/19-05/31/19  $
06/01/19-06/01/19   $

INTEREST

$

86.72 $

$    3,776.88  $	$
$  50,990.67  $	$

$    1,263.44  $	$
$    2,526.88  $	$

$ 69.60 $

O&M Discounts/ Penalties

226.26 $
354.23  $
754.20 $ 5,581.08 $
8,296.20 $
14,270.01 $
14,144.72  $
$
509.09 $
75.42  $
$
$   (56.56) $
{113.13) $
(339.40) $
$
$

Debt Discounts/ Penalties

$1,310,415.56
.36300.10000
Commissions	Net Amount	General Fund

101.08  $
144.33  $
302.70 $ 2,725.92  $
4,393.74  $
8,575.06 $
9,331.74 $
$
340.33  $
50.40  $
$
$
{75.80) $
(170.56) $
$
$

Paid

157.12  $
209.92 $
507.30 $ 3,987.29 $
6,091.05 $
10,978.46  $
15,197.30 $
$
800.93  $
186.15 $ 2,191.63 $
$
64.87 $
129.73  $
236.85 $
21,025.50  $

Received

7,698.89 i_ $

100.00%

10,286.06
24,857.90
195,377.09
298,461.55
537,944.39
744,667.57
2,436.40
39,245.42
9,121.38
107,389.90
156.32
3,178.52
6,357.06
11,605.39

, $

$
$
$
$
$
$
$
$
$
$
$

5,332.46  [  .i  $

7,159.63 ) $

INTEREST PROP APPRAISER

$
$

22.80 $

$    3,790.32  $	$

$

$  12.62  $	$
$	$

{21,025.50) •. $

35.42

$
$
$

131,464.54
195,318.23
336,299.64
448,373.16
1,527.81
23,503.99
5,465.24
57,227.37
86.72
1,901.69
3,803.40
7,734.00
22.80
{13,080.75) :
1,229,925.03

17,785.09

$
$
$
$
$
$
$
$
$
$
$
$
$
is 

$

$

$459,647.33 2005A
Debt Svc Fund
57.752%

1,366.66 $
1,805.58  $
4,084.69  $
36,910.83 $
59,567.42 $
116,454.05 $
171,116.21 $
524.73 $ 9,091.00 $ 2,111.50 $ 28,969.91 $
40.20  $
737.40  $
1,474.79  $
2,235.80 $
7.29  $
{4,588.26) $
431,909.81

$336,250.00 2006A
Debt Svc Fund
42.248%

$795,897.33

DebtTotal
100%

$    2,526.88  $
$    3,350.08  $
$    7,567.20  $
$   68,145.12 $
$ 109,838.64 $

$ 1,320.85 $
2,988.11 $
27,001.72  $
43,575.90 $
85,190.70 $
125,178.20 $
383.86 $
6,650.43 $
1,544.64 $
21,192.62 $
29.40  $
539.43 $ 1,078.87 $
1,635.58 $
5.33  $
{3,356.49) $
315,958.92  $

2,366.43
3,126.43
7,072.81
63,912.55
103,143.32
201,644.75
296,294.42
908.59
15,741.43
3,656.14
50,162.53
69.60
1,276.83
2,553.66
3,871.38
12.62
{7,944.75)
747,868.74

BALANCE REMAINING

'..:I

Gross Percent Collected Balance Due

100.00%
$0.01

Special Assessment  Receipts  Fiscal Year Ending September 30, 2019

$ 1,310,415.56	$ 1,637.33	$ 795,897.32	$ 990.81	$	43,702.12	$	25,681.04	$	61,764.09	$ 1,977,793.77 !. $	
($0.00)		$0.01						

 	 	

LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT BALANCE SHEET

AUGUST 31, 2019

ASSETS:	

GENERAL	MAJOR FUNDS DEBT
SERVICE	
CAPITAL PROJECTS	TOTAL GOVERNMENTAL FUNDS	
CASH	$58,503		$33,612	$92,114	
PETTY CASH	$ 100			$100	
DUE FROM OTHER FUNDS	$33,793			$33,793	
INVESTMENT - STATE BOARD - SURPLUS FUNDS	$224,838		$446,709	$671,547	
SERIES 2005A
RESERVE A		
$294,561		
$294,561	
PREPAYM ENT A		$51,810		$51,810	
REVENUE A		$167,910		$ 167,910	
DEFERRED COST A/B		$10		$10	
SERIES 2006A
RESERVE A		
$78, 188		
$78,188	
REVENUE A		$126, 128		$126, 128	
PREPAYMENT A		$16,835		$16,835	
DEFERRED COST A/B		$ 2,571		$2,571	
COST OF ISSUANCE			$29	$29	
DEPOSITS	$24,463			$24,463	
PREPAID EXPEN DITU RES	$4,671			$4,671	
TOTAL ASSETS	$346,367	$738,012	$480,350	$1,564,729	
LIABILITIES:
ACCOUNTS PAYABLE	
$86,250			
$86,250	
ROOM RENTAL DEPOSITS				$775	
DEFERRED REVENUE 	$ 1,238			$1,238	
DUE TO OTHER FUNDS		$20,513	$13,280	$33,793	
TOTAL LIABILITIES	$88,262	$2 0,513	$13,280	$122,056	

$258, 105

$717,499

$467,069

$1,442,673

$346,367

$738,012

$480,350

$1,564,729

$775

FUND BALANCES:

PREPAID EXPENSES	$4,671	$4,671	
DEPOSITS - TECO	$24,463	$24,463	
OS-SERIES 2005A		$502,444		$502,444	
CAPITAL PROJECTS			$467,069	$467,069	
UNASSIGNED FOR GENERAL FUND 	$228,972			$228,972	
UNASSIGNED FOR OS-SERIES 2006A		$215,055		$215,055	

NONSPENDABLES:

RESTRICTED FOR:

TOTAL FUND BALANCES TOTAL LIABI LITIES & FUND BALANCES

Page 1

LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND
STATEM ENT OF REVENUES, EXPENDITURES AN D CHANGES IN FUND BALANCES

$4,583

FOR THE PERIOD ENDED AUGUST 31, 2019

DESCRIPTION

REVENUES:	ADOPTED BUDGET	PRORATED BU DGET THRU 08/31/19	ACTUAL
THRU 08/31/19	
VARIANCE	
SPECIAL ASSESSMENTS - TAX COLLECTOR	$1,218,686	$1,218,686	$ 1,229,902	$11,21S	
INTEREST EARNED 	$1,500		$8,252	$6,877	
RENTAL FEES	$5,000		$11,986	$7,403	
CONTRIBUTIONS	$0		$4, 175	$4, 175	
MISCELLANEOUS INCOME 	$0		$0	$0	
TOTAL REVENUES	$1,225, 186	$1,224,645	$ 1,254,314	$29,669	
EXPENDITURES:					
ADMINISTRATIVE:					
ARBITRAGE	$1,200	$1,100	$0	$1, 100	
ANNUAL AUDIT	$6,000	$5,500	$5,800	($300)	
ATTORNEY	$20,000	$18,333	$44,802	($26,469)	
COMPUTER TIM E	$ 1,000	$917	$917	$0	
DISSEMINATION	$6,000	$S,500	$5,700	($200)	
DU ES, LICENSES, SUBSCRIPTIONS	$175	$175	$175	$0	
INSURANCE	$33,036	$33,036	$31,255	$1,781	
LEGAL ADVERTISING	$500	$458	$2,210	($1,752)	
MANAGEMENT	$45,000	$41,250	$41,250	$0	
OFFICE SUPPLIES	$300	$275	$147	$128	
OTHER CURRENT CHARGES	$2,700	$2,475	$2,021		
GOLF COURSE STUDY	$0 	$0	$141,515	($141,515)	
POSTAGE	$1,500	$1,375	$2, 121 	($746)	
PRINTING & BINDING 	$1,500		$972	$403	
TELEPHONE		$46	$110 	($64)	
TRUSTEE FEES	$6,500 	$5, 958	$0	$5, 958	
CAPITAL OUTLAY	$0 	$0	$0 		
TOTAL ADMINISTRA TIVE	 	$125,461 	 	$117,774 	$278,994	($161,221)	
FIELD:					
ATHLETIC EQUIPMENT	$10,000	$9,167	$2,976	$6,190	
BUILDING CONTRACT SERVICES	$51, 160	$46,897	$53,731	($6,834)	
BUILDING GROUNDS MAINTENANCE & SUPPLIES	$27,248	$24,977	$26,663	($1,685)	
CONTINGENCY	$30,000	$27,500	$9,613	$17,887	
ENGINEERRING	$8,000	$7,333	$15,625	($8,292)	
HFC SPECIAL EVENTS	$3,000	$2,750	$2,818	($68)	
LANDSCAPE /LAl<E CONTRACT SERVICES	$172, 222	$157,870	$156,993	$877	
OFFICE SUPPLIES/PRI NTING/BINDING 	$10,000	$9,167	$7, 193		
PERMITS/INSPECTIONS	$1,500		$1,550	($175)	
PERSONNEL EXPENSES	$214,283	$196,426	$200, 224	($3,798)	
SECURITY CONTRACT SERVICES	$250,804	$229,904	$237,687	($7,783)	
UTILITIES	$207, 767	$190,453	$190, 150	$303	
TOTAL FIELD	$985,984	$903,819	$905,222	($1,403)	

$454

Page 2

LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND 
STATEMENT OF REVENUES, EXPEN DITURES AND CHANGES IN FUND BALANCES
FOR THE PERIOD ENDED AUGUST 31, 2019

DESCRIPTION

ADOPTED BUDGET

PRORATED BUDGET THRU 08/31/19

ACTUAL
THRU 08/31/19

VARIANCE

 	

TOTAL PROJECT:

FIRST QUARTER OPERATING RESER VES	

$205,797	

$188,647	

$0	

$188,647	
TOTAL PROJECT	$205,797	$188,647	$0 	$188, 647	
TOTAL EXPENDITURES	$1,317,242	$1,210,239	$1,184,216	$26,023	
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES	
($92,055)	
$14,406	
$70,098	
$55,692	
OTHER FINANCIANG SOURCES/( USES):					
INTERFUND TRANSFER IN/(OUT)	($113,742)	$0	$0	$0	
TOTAL OTHER FINANCIANG SOU RCES/(USES)	($113,742)	$0	$0	$0 	
NET CHANGE IN FUND BALANCE	($205,797)	$14,406	$70,098	$55,692	
FUND BALANCE - Beginning	$205,797		$188,007		
FUND BALANCE - Ending			$258,105		

Page 3

LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT

REVENUES:

ADOPTED BUDGET

OCT

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN

JUL	AUG

SEPT

TOTAL

GENERAL FUND - FY 2019

SPECIAL ASSESSMENTS	$1,218,686
INTEREST EARNED	$1,500	$202

$161,742	$531,618	$449,901	$28,969	$57,314	$1,902	$11,537	$0

$23

$30

$0	$0	$875	$1,733	$1,506	$1,356	$1,105	$882

($13,104)

$1,229,902

$0	$8,252

RENTAL FEES	$5,000

$295	$0

$3,943	$1,250	$1,311	$2,403	$0	$0	$2,405	$0	$11,986

CONTRIBUTIONS	$0	$0	$0	$0	$0	$0	$2,000	$0	$0	$0	$2,175	$0	$4,175
CARRY FORWARD SURPLUS	$205,797	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

ITOTAL REVENUES	$1,430,984	$552	$162,055	$531,618	$449,931	$33,787	$62,297	$4,718	$15,296	$1,105	$905	($7,951)	$0 $ 1,254,3141 
EXPENDITURES: ADMINISTRATIVE
ARBITRAGE	$1,200	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

ANNUAL AUDIT	$6,000	$0	$0	$0

$0	$0	$0	$500	$5,300	$0	$0

$5,800

$83

ATTORNEY	$20,000	$1,015	$856	$9,017	$1,591	$9,825	$481	$8,926	$7,599	$947	$4,546	$0	$0	$44,802

COMPUTER T!ME	$1,000	$83

$83

$83

$83	$83	$0

DISSEMINATION	$6,000	$500	$500	$500	$500	$700	$500	$500	$500	$500	$500	$500	$0	$5,700

DUES, LICENSES AND SUBSCRIPTIONS	$175	$175	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
INSURANCE	$33,036	$30,033	$0	$0	$1,222	$0	$0	$0	$0	$0	$0	$31,255

$3,750
$30

LEGALADVERT!SING	$500	$0	$6	$30	$0	$77	$219	$79	$1,770	$0	$0	$2,210

MANAGEMENT FEES	$45,000	$3,750	$3,750	$3,750

$3,750	$3,750	$3,750	$3,750

$3,750

$41,250

OFFICE SUPPLI ES	$300	$9	$37	$4

$0	$31

$33	$0	$0	$0	$147

OTHER CURRENT CHARGES	$2,700	$173	$444	$180	$40	$49	$158	$264	$272	$221	$219	$0	$2,021
GOLF COURSE STUDY	$0	$6,451	$3,161	$9,179	$12,362	$13,237	$18,830	$12,577	$15,841	$26,494	$23,133	$250	$141,515

$239

POSTAGE	$1,500	$183	$370	$212	$292	$ 102	$45	$190	$112	$185	$292	$0	$2,121

PRINTING AND BINDING	$1,500	$60	$212

$40	$60	$135	$37	$32

$0	$972

Page 4

TELEPHONE	$50	$0	$0	$0	$50	$0	$48	$0	$0	$0	$13	$0	$0	$110
TRUSTEE FEES	$6,500	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0

lroTAL ADM. EXPENDITURES	$125,461	$42,432	$9,419	$22,973	$19,961	$27,788	$23,952	$26,302	$28,924	$37,809	$34,284	$5,150	$0	$278,994 1

ATHLETIC EQUIPMENT BUILDING CONTRACT SERVICES
SECURITY SERVICES CLEANING SERVICES POOL MAINTENANCE
TOTAL BUILDING CONTRACTSERVICES
BUILDING /GROUNDS MAINTENANCE & SUPPLIES BUILDING MAINTENANCE/SUPPLIES GROUNDS MAINTENANCE/SUPPLIES
PEST CONTROL
TOTAL BUILDING /GROUNDS MAINTENANCE &SUPPLIES
CONTINGENCY ENGINEERING HFCSPECIAL EVENTS

320.572.600
320.572.34510
320.572.46010
320.572.46400

$10,000
$51,160

$717
$195
$3,680
$1,080
$4,955

320.572.46020
320.572.46030
320.572.34800
320.572.49000
310.513.31100
320.572.49400

$51,160
$27,248

$27,248
$30,000
$8,000
$3,000

$1,186
$207
$1,836
$26
$302
$216

$0
$0
$3,280
$540
$3,820
$920
$295
$128
$0
$375
$119

$100
$62
$3,280
$4,488
$7,830
$1,476
$128
$2,056
$616
$1,309
$125

$0
$195
$3,280
$191
$3,666
$1,386
$4,551
$207
$6,144
$604
$2,038
$817

$0
$0
$3,280
$551
$3,831
$617
$249
$128
$995
$62
$1,867
$0

$1,445
$407
$3,280
$1,149
$4,835
$1,205
$1,547
$128
$2,879
$46
$0
$131

$0
$828
$3,280
$2,141
$6,249
$1,566
$250
$207
$2,023
$1,310
$1,024
$0

$0
$3,280
$551
$3,831
$1,325
$735
$128
$2,188
$55
$2,677
$71

$36
$0
$3,280
$4,728
$8,008
$1,292
$128
$2,152
$0
$1,466
$207

$0
$195
$3,280
$551
$4,026
$763
$2,873
$207
$3,843
$75
$2,953
$1,133

$283
$130
$0
$2,551
$2,681
$895
$51
$256
$1,202
$6,818
$1,612
$0

$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0

$2,976
$2,012
$33,200
$18,519
$53,731
$11,889
$12,922
$1,852
$26,663

$15,625
$2,818

$443

FIELD:

LAKE ASHTON II COMMUNITY DEVELOPMENT DISTRICT

$970

$99

GENERAL FUND - FY 2019

ADDPTED BUDGET	OCT	NOV	DEC	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEPT	TOTAL	
LANDSCAPE/LAKE CONTRACT SERVICES	$172,222														
LAKE MAINTENANCE	320.572.46500		$ 1,540	$875	$875	$875	$1,575	$1,575	$875	$875	$ 1,575	$875		$0	$12,485	
LANDSCAPE MAINTENANCE	320.572.46200		$13,002	$13,302	$13,302	$13,302	$13,302	$13,302	$13,302	$13,302	$12,468	$13,068	$12,468	$0	$144,118	
IRRIGATION REPAIRS	320.572.46210		$0	$0	$0	$390	$0	 	$0 	$0			$0	$0	$0	$390	
TOTAL LANDSCAPE/LAKE CONTRACT SERVICES		$172,222	$14,542	$14,177	$14,177	$14,567	$14,877	$14,877	$14,177	$14,177	$14,043	$13,943	$13,438	$0	$156,993	
OFFICE SUPPLIES/PRINTING/BINDING	320.572.51000	$10,000	$964	$231	$659	$462	$1,235	$129	$257	$1,208	$526	$558	$964	$0	$7,193	
PERMITS/INSPECTIONS	320.572.49300	$1,500	$0	$0	$0	$0	$0		$600	$90	$560	$0	$300	$0	$1,550	
PERSONNEL EXPENSES
EXERCISE INSTRUCTORS	
320.572.34100	$214,283	
$1,500	
$1,565	
$ 1,620	
$1,200	
$1,695	
$1,520	
$1,780	
$3,160	
$1,835	
$2,120	
$1,785	
$0	
$19,780	
FICA EXPENSE	320.572.21000		$1,003	$998	$1,017	$1,488	$1,000	$986	$998	$1,014	$1,054	$1,060	$1,587	$0	$12,205	
HEALTH INSURANCE	320.572.23000		$454	$704	$704	$628	$628	$628	$878	$878	$878	$878	$878	$0	$8,139	
SALARIES	320.572.12000		$13,116	$13,050	$13,292	$19,446	$13,076	$12,892	$13,044	$13,260	$ 13,772	$13,852	$20,747	$0	$159,547	
INSURANCE	320.572.45000		$0	$0	$0		$0	$0	$0	$553	$0	$0		$0	$553	
PERSONNEL EXPENSES		$214,283	$16,074	$16,318	$16,633	$22,761	$16,400	$16,027	$16,701	$18,865	$17,539	$17,910	$24,998	$0	$200,224	
PLANT/TREE REPLACEMENT	320.572.46220	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
POND REPAIRS	320-572-46600	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
SECURITY CONTRACTSERVICES
GATE ATTENDANTS	
320.572.34500	$250,804	
$23,534	
$19,777	
$23,957	
$18,688	
$18,878	
$18,960	
$23,622	
$18,987	
$18,688	
$23,658	
$23,783		
$232,531	
VIDEO SECURllY-ADT	320.572.34520		$132	$99	$99	$132		$100	$134	$100	$100	$134	$100	$0	$1,228	
SECURllY EXTRAS	320.572.34530		$493		$210	$249	$632		$0	$900	$1,422	$61	($40)	$0	
TOTAL SECURITY CONTRACTSERVICES		$250,804	$24,160	$19,875	$24,266	$19,069	$19,609	$19,060	$23,755	$19,987	$20,209	$23,853	$23,843	$0	$237,687	
UTILITIES
ELECTRIC	
320.572.43000	$207,767	
$10,747	
$10,380	
$11,461	
$10,235	
$11,170	
$10,814	
$10,442	
$11,064	
$11,435	
$11,300	
$11,374	
$0	
$120,423	
REFUSE	320.572.34900		$183	$185	$185	$190	$189	$182	$181	$191	$191		$191		$2,059	
WATER	320.572.43200		$2,427	$2,605	$3,069	$3,476	$2,710	$2,786	$3,338		$3,185	$2,618	$3,192	$0	$31,958	
TELEPHONE	320.572.41000		$1,073	$971	$972	$978	$978	$990	$982	$983	$982	$981	$981	$0	$10,869	
GAS/PROPANE	320.572.43100		$2,322	$2,952	$2,105	$4,401	$2,758	$2,552	$2,984	$1,627	$ 1,229	$1,136	$775		$24,841	
MAINTENANCE	320.572.46000		$0		$0	$0	$0	$0	$0	$0	$0	$0			$0	
TOTAL UTILITIES		$207,767	$16,752	$17,093	$17,792	$19,279	$17,804	$17,325	$17,927	$16,418	$17,021	$16,227	$16,513	$0	$190,150	
ITOTAL FIELD EXPENDITURES		$985,984	$80,543	$73,351		$89,408	$76,679	$76,754	$84,022		$81,767	$84,521	$92,651		$905,222 1	
FIRST QUARTER OPERATING RESERVES		$205,797	$0	$0	$0	$0		$0	$0	$0	$0	$0	$0	$0	$0	
OTHER SOURCES/{USES)																
!NTERFUND TRANSFER IN/(oun		($113,742)	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	
lroTAL OTHER 5ouecES/IUSE5)		($113,742)	$0	$0	$0	$0	$0	$0	$0	$0	$0 	$0	$0	$0	so I	

TOTAL EXPENDITURES	$1,430,984

$122,975	$82,769	$108,537	$109,368	$104,466	$100,706

$110,324	$108,887	$119,576	$118,805	$97,801

$1, 184,216

IEXCESS/REVENUES(EXPENDITURES	$0

($122,423)	$79,286	$423,081	$340,563	($70,680)	($38,409)

Page s

($105,605)

($118,470)    ($117,900)    ($105,752)	$0	$70,098 1

 	 	 	

LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT CAPITAL PROJECTS
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FU ND BALANCES

$5,000
$2,540
$5,000
$3,000
$ 10,000
$ 10,860
$22,165
$23,000
$26,274
$0
$0
$0
$0
$0
$0
$0
$0
$0 

$5,000

$0
$0
$0
$0
$0
$23,000

$4,373
$975
$0
$3,042

$0
$0 
$0
$0
$0
$0
$0
$0
$0
$0

$613
$0
$25,000
$0
$13,919
$116
$11,829
$2,030
$8,412
$2,188
$435
$978

$627
$0
$0
($3,042)
$0
($613)
$0
($2,000)
$0 ($13,919) ($116)
($ 11,829)
($2,030)
($8,412)
($2,188) ($435)
($978)

$177,839

$41,520

$3,450

$114,172

($72,652)

($63,097)

($63,097)

($40,853)

($40,853)

 	($98,033)

($98,033)

($57,180)

($57,180)

FOR THE  PERIOD ENDED AUGUST 31, 2019

 DESCRIPTION		ADOPTED BUDGET	PRORATED BUDGET
      TH RU 08/31/19		ACTUAL
TH RU 08/31/19	
VARIANCE	
REVENUES:					
CAPITAL RESERVE - TRANSFER IN 	$113,742	$0	$0	$0	
CONTRIBUTIONS	$0	$0	$4,506	$4,506	
INTEREST EARNED 	$1,000	$667	$11,633	$10,966	
TOTAL REVENUES	$114,742	$667	$16,139	$15,472	
EXPENDITURES:					
BANK CHARGES			$794	($794)	
CAPITAL PROJECTS - FY19
ANNUAL EXPENSES:
HFC BUILDING	

$10,000		

$0	

$0	
ROAD REPAIRS !'i	$25,000	$0	$19,175	($19, 175)	
COMPUTERS	$5,000		$0	$0	
EQUIPMENT-ATHLETIC	$5,000	$12,545	$12,545	$0	
LANDSCAPE REPLACEMENT	$15,000	$0	$550	($550)	
OTHER CAPITAL PROJECT EXPENSES	$10,000	$0	$0	$0	
POND REPAIRS AND MAINTENANCE	$0	$0 		($3,675)	
SPECIFIC PROJECTS: MICROPHONE/CONFERENCE SYSTEM OUTDOOR FURNITU RE-RECONDITIONING KITCHEN UPGRADES/MICROWAVES HANDICAP ENTRANCE DOOR
TREE REPLACEMENT-ASHTON BLVD. LED LIGHTI NG 
WINDOW COVERINGS FLOORING REPLACEMENT-HFC
LANDSCAPING-NEW PARKING LOT PICKLEBALL COU RTS
PAVING PARl(ING LOT/LIGHTS POOL/S PA REMODELING SIGNS
PLANT PROJECT CHAIRS
FIRE EXTINGUISH ERS BLINDS
VACUUM SH UTTERS

TOTAL EXPEN DITURES

EXCESS (DEFICI ENCY) OF REVENUES OVER (UNDER) EXPENDITURES

NET CHANGE IN FUND BALANCE

FUND BALANCE - Beginning	$598,589	$565,074

FU ND BALANCE - Ending	$535,492	$467,041

 	 	 	

LAl<E ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2005A
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES

FOR THE PERIOD ENDED AUGUST 31, 2019

DESCRIPTION

REVENUES:	ADOPTED BUDGET	PRORATED BUDGET THRU 08/31/19	ACTUAL THRU 08/31/19	
VARIANCE	
SPECIAL ASSESSMENTS - ON ROLL	$436,872	$436,872	$431,923	($4,949)	
SPECIAL ASSESSMENTS - PREPAYMENTS	$0 	$0	$51,785	$51,785	
INTEREST EARNED 	$1,000	$917	$8,224	$7,308	
TOTAL REVENUES	$437,872	$437,789	$491,932	$54,144	
EXPENDITURES:					
SERIES 2005A:
INTEREST - 11/1	
$131,688	
$131,688	
$131,688	
$0	
INTEREST - 5/1	$131,688	$131,688	$131,016	$672	
PRINCIPAL - 5/1	$165,000	$165,000	$170,000	($5,000)	
SPECIAL CALL - 11/1 	$0 	$0	$25,000	($2S,000)	
SPECIAL CALL - 5/1	$0	$0	$5,000	($5,000)	
TOTAL EXPENDITURES	$428, 375	$428,375	$462,703	($34,328)	
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES	
$9,497	
$9,414	
$29,229	
$19,816 	
N ET CHANGE IN FUND BALANCE	$9,497	 	$9,414		$29,229	$19,816	
FUND BALANCE - Beginning	$161,768		$473, 214		
FUND BALANCE - Ending	$171,265		$502,444		

LAl<E ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND - SERIES 2006A
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
FOR THE  PERIOD ENDED AUGUST 31, 2019

DESCRIPTION

REVENUES:	ADOPTED BUDGET	PRORATED BUDGET THRU 08/31/19	ACTUAL THRU 08/31/19	
VARIANCE	
ASSESSMENTS - OFF ROLL	$315,038	$315,038	$315,969	$931	
ASSESSMENTS - PPMTS	$0	$0	$27, 601	$27,601	
INTEREST INCOME 	$0	$0	$3,862	$3,862	
TOTAL REVENUES	$315,038	$315,038	$347,432	$32,394	
EXPENDITURES:					
SERIES 2006A:
INTEREST - 11/1	
$101,893	
$101,893	
$102,158	
($265)	
INTEREST - 5/1	$101,893	$101,893	$101,495	$398	
PRINCIPAL - 5/1	$110,000	$110,000	$110,000	$0 	
SPECIAL CALL - 11/1	$0	$0	$25,000	($25,000)	
SPECIAL CALL - 5/1	$0	$0	$15,000	($ 15,000)	
TOTAL EXPENDITURES	$313,785	$313,785	$353,653	($39,868}	
EXCESS (DEFICIENCY) OF REVENUES OVER (UNDER) EXPENDITURES	
$1,253	
$1,253	
($6,221)	
($7,474}	
NET CHANGE IN FUND BALANCE 	$1,253	$1,253	($6,221)	($7,474)	
FUND BALANCE - Beginning	$116,284		$221,276		
FUND BALANCE - Ending	$117,537		$215,055		
Maximum Annual Debt Service					

Page B

	LAKE ASHTON II 
COMMUNITY DEVELOPMENT DISTRICT		
	Long Term Debt Report		
	FY 2019		
	Series 2005A, Capital Improvement Revenue Bonds		
Interest Rate:	5.375%		
Maturity Date:	5/1/2036	$4,900,000.00	
Bonds outstanding - 9/30/2018		$4,900,000.00	
	November 1, 2018 (Special Call) 	($25,000.00)	
	May 1, 2019 (Mandatory)	($170,000.00)	
	May 1, 2019 (Special Call) 	($5,000.00)	
Current Bonds Outstanding		$4,700,000.00	
	Series 2006A, Capital Improvement Revenue Bonds		
Interest Rate:	5.300%		
Maturity Date:	5/1/2038	$3,845,000.00	
Bonds outstanding - 9/30/2018		$3,845,000.00	
	November 1, 2018 (Special Call) 	($25,000.00)	
	May 1, 2019 (Mandatory)	($110,000.00)	
	May 1, 2019 (Special Call) 	($ 15,000.00)	
Current Bonds Outstanding		$3,695,000.00	
Total Current Bonds Outstanding		$8,395,000.00	

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LAl<E ASHTON II 
CO MMUNITY DEVELOPMENT DISTRICT CAPITAL PROJECTS - SERIES 2006
STATEMENT OF REVENU ES, EXPEN DITURES AND CHANGES IN FUND BALANCES
FOR THE PERIOD ENDED AUGUST 31, 2019

	ADOPTED		PRORATED BU DGET	ACTUAL			
DESCRIPTION	BUDGET		THRU 08/31/19	THRU 08/31/19	VARIANCE		
REVENUES:							
INTEREST EARNED 		$0	$0	$0		$0	
TOTAL REVENUES		$0	$0	$0		$0	
EXPENDITURES:							
CAPITAL OUTLAY		$0	$0	$0		$0	
TOTAL EXPENDITURES		$0	$0	$0		$0	
EXCESS (DEFICIENCY) OF REVENUES							
OVER (UN DER) EXPENDITURES	 	$0 	 	$0 	$0	$0	
NET CHANGE IN FUND BALANCE	$0	$0	$0	$0	
FUND BALANCE - Beginning	$0		$28		
FUND BALANCE - Ending	$0		$29		

 	

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