Agenda Packet 06-23 - Laserfiche WebLink

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Value of the Lot as provided by the Developer, and confirmed by the City Council, as shown on Exhibit E. "Lot Type 1" means a Lot Type within Improvement Area #1 generally marketed to homebuilders as a 55' Lot. The buyer disclosure for Lot Type 1 is attached hereto as part of Appendix B. "Major Improvements" mean those Authorized Improvements that confer a special benefit to all of the Assessed Property within the District, as further described in Section III.A. and depicted on Exhibit G-1. "Maximum Assessment" means, for each Lot, an Assessment equal to the lesser of (1) the amount calculated pursuant to Section VLA, or (2) for each Lot Type, the amount shown on Exhibit E. "Non -Benefitted Property" means Parcels within the boundaries of the District that accrue no special benefit from the Authorized Improvements as determined by the City Council. "Notice of Assessment Termination" means a document that shall be recorded in the official public records of the County evidencing the termination of an Assessment, a form of which is attached as Exhibit H. "Parcel" or "Parcels" means a specific property within the District identified by either a tax parcel identification number assigned by the Lamar County Appraisal District for real property tax purposes, by legal description, or by lot and block number in a final subdivision plat recorded in the plat or the official public records of the County, or by any other means determined by the City. "PID Act" means Chapter 372, Texas Local Government Code, as amended. "PID Bonds" means any bonds issued by the City in one or more series and secured in whole or in part by Assessments. "Prepayment" means the payment of all or a portion of an Assessment before the due date of the final Annual Installment thereof. Amounts received at the time of a Prepayment which represent a payment of principal, interest, or penalties on a delinquent installment of an Assessment are not to be considered a Prepayment, but rather are to be treated as the payment of the regularly scheduled Annual Installment. "Prepayment Costs" means interest, including Additional Interest and Annual Collection Costs, to the date of Prepayment. "Private Improvements" means improvements required to be constructed, or caused to be constructed, by the Developer to deliver final Lots and that are not Authorized Improvements. - f r r r r r r r r rrrrr rrrr��rfrrrr«rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrairaail«f�>Jr �rrrurr� If�f1»P«««1@Wl1JYll11 11�1�1J�1I11�111171�Jr11«IIDIl11lIr11111�111NNIINNI(f�flfQf�«««1ffiQ�IJJ«JD�JIJ�»�i+��yy�l��i�i:�!!f�!1«I11U/�11t1lRllDlUl,�ll((1�«Il�d«!!!�((1I1�111�11/1,�1�3/lrl//Al«(f(fruP( FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 8 PRELIMINARY SERVICE AND ASSESSMENT PLAN