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"Improvement Area #1 Initial Parcel" means all of the Improvement Area #1 Assessed Property <br />against which the entire Improvement Area #1 Assessment is to be levied, as shown on the <br />Improvement Area #1 Assessment Roll in Exhibit F-1. <br />"Improvement Area #1 Projects" means collectively, (1) the pro rata portion of the Major <br />Improvements allocable to Improvement Area #1; and (2) the Improvement Area #1 <br />"Improvement Area #1 Reimbursement Agreement" means that certain Reimbursement <br />Agreement, effective April 28, 2025 entered into by and between the City and the Developer, in <br />which the Developer, either directly or through affiliates, agrees to construct the Improvement <br />Area #1 Projects, and to fund certain Actual Costs of the Improvement Area #1 Projects, and the <br />City agrees to reimburse the Developer for Actual Costs of the improvement Area #1 Projects <br />paid solely from the revenue collected by the City from Improvement Area #1 Assessments, <br />including Improvement Area #1 Annual Installments. The City anticipates that it will issue <br />Improvement Area #1 Bonds in the future, at which time all or a portion of the Improvement <br />Area #1 Reimbursement Obligation balance will be reduced by the amount of the PID Bond <br />proceeds. <br />"Improvement Area #1 Reimbursement Obligation" means an amount not to exceed the <br />aggregate amount of Improvement Area #1 Assessments levied, to be paid to the Developer <br />pursuant to the Improvement Area #1 Reimbursement Agreement. The Annual Installments for <br />the Improvement Area #1 Reimbursement Obligation are shown on Exhibit F-2. <br />"Indenturelf means an Indenture of Trust entered into between the City and the Trustee in <br />connection with the issuance of each series of PID Bonds, as amended or supplemented from <br />time to time, setting forth the terms and conditions related to a series of PID Bonds. <br />ot" means (1) for any portion of the District for which a final subdivision plat has been recorded <br />in the plat or official public records of the County, a tract of land described by "lot"' in such <br />subdivision plat; and (2) for any portion of the District for which a subdivision plat has not been <br />recorded in the plat or official public records of the County, a tract of land anticipated to be <br />described as a lot" in a final recorded subdivision plat as shown on a concept plan or a <br />preliminary plat. A "Lot" shall not include real property owned by a government entity, even if <br />such property is designated as a separate described tract or lot on a recorded subdivision plat. <br />"Lot Type" means a classcation of final bung Lots with similar characteristics (e.g. lot size, <br />home product', Estimated Buildout Value, etc.), as determined at the time of the applicable levy <br />of Assessments and confirmed by the City Council. In the case of single-family residential Lots, <br />the Lot Type shall be further defined by classifying the residential Lots by the Estimated Buildout <br />FORESTBROOK PUBLIC IMPROVEMENT DISTRICT NO. 1 7 <br />SERVICE AND ASSESSMENT PLAN <br />