Bridgewalk
Community  Development  District

Proposed Budget FY2026

Table of Contents

1-3	General Fund	

4-9	

General Fund Narrative	

10	

Debt Service Fund Series 2022	

11	

Amortization Schedule Series 2022	

12	

Debt Service Fund Series 2023	

13	

Amortization Schedule Series 2023	

Community Development District Proposed Budget
FY2026
General Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Special Assessments	$	491,473	$	488,125	$	3,187	$	491,312	$	491,473	
Interest	12,000	8,232	6,250	14,482	12,000	
Carry Forward Surplus	57,750	96,001	-	96,001	55,793	
Total Revenues	$	561,223	$	592,358	$	9,437	$	601,794	$	559,266	

Expenditures:						
Administrative:						
Supervisor Fees	$	12,000	$	2,400	$	5,800	$	8,200	$	12,000	
FICA Expense	918	184	444	627	918	
Engineering Fees	9,500	4,095	4,405	8,500	9,500	
Attorney	25,000	5,482	9,518	15,000	25,000	
Arbitrage	900	-	900	900	900	
Dissemination	7,350	4,288	3,063	7,350	7,571	
Dissemination - DTS	-	1,500	-	1,500	1,500	
Annual Audit	4,600	-	4,600	4,600	4,600	
Trustee Fees	8,100	8,297	-	8,297	8,869	
Assessment Administration	5,565	5,565	-	5,565	5,732	
Management Fees	40,000	23,333	16,667	40,000	41,200	
Information Technology	1,890	1,103	788	1,890	1,947	
Website Maintenance	1,260	735	525	1,260	1,298	
Telephone	300	-	50	50	300	
Postage	1,000	145	130	275	500	
Printing & Binding	1,000	48	52	100	250	
Insurance	6,119	5,952	-	5,952	7,196	
Legal Advertising	2,500	-	2,500	2,500	2,500	
Other Current Charges	600	295	250	545	600	
Office Supplies	625	8	17	25	250	
Property Appraiser Fee	400	136	-	136	400	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total Administrative:	$	129,802	$	63,738	$	49,707	$	113,445	$	133,206	

Community Development District Proposed Budget
FY2026
General Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Operations & Maintenance		
Field Services	$	16,695	$	9,739	$	6,956	$	16,695	$	17,196	
Property Insurance	7,500	2,129	-	2,129	2,299	
Electric	2,400	280	250	530	2,400	
Streetlights	157,123	43,766	36,250	80,016	154,350	
Water & Sewer	41,020	38,094	60,000	98,094	88,895	
Landscape Maintenance	118,560	57,037	48,480	105,517	119,880	
Landscape Contingency	10,000	-	5,000	5,000	10,000	
Lake Maintenance	3,864	2,254	1,985	4,239	6,720	
Irrigation Repairs	15,000	1,148	6,352	7,500	15,000	
Janitorial Services	-	-	-	-	4,320	
Repairs & Maintenance	2,500	1,485	1,015	2,500	2,500	
Contingency	2,500	-	2,000	2,000	2,500	
Hurricane Expenses	-	1,740	-	1,740	-	
Springhead Lake South						
Streetlights	$	24,000	$	-	$	-	$	-	$	-	
Landscape Maintenance	24,279	-	-	-	-	
Lake Maintenance	2,730	-	-	-	-	
Janitorial Services	750	-	-	-	-	
Boat Dock Maintenance	2,500	-	-	-	-	
Total Operations & Maintenance:	$	431,421	$	157,672	$	168,288	$	325,960	$	426,060	
						
Total Expenditures	$	561,223	$	221,409	$	217,996	$	439,405	$	559,266	
						
Excess Revenues (Expenditures)	$	0	$	370,949	$	(208,559)	$	162,389	$	-	

Net Assessment	$	491,473	
Collection Cost (6%)	$31,371	
Gross Assessment	$522,843	

Community Development District

Gross Per Unit Assessment Comparison Chart

	FY2026		
Property Type	Platted Units	Gross Per Unit	Gross Total	
Townhome 25'	117	$560	$65,566	
Single Family 40'	87	$897	$78,006	
Single Family 50'	222	$1,121	$248,813	
Single Family 60'	97	$1,345	$130,459	
Total	523		$522,843	
	
FY2025			
Property Type	Platted Units	Gross Per Unit	Gross Total	
Townhome 25'	117	$560	$65,566	
Single Family 40'	87	$897	$78,006	
Single Family 50'	222	$1,121	$248,813	
Single Family 60'	97	$1,345	$130,458	
Total	523		$522,843	

Property Type	FY2025	FY2026	Increase/(Decrease)	
Townhome 25'	$560	$560	($0)	
Single Family 40'	$897	$897	$0	
Single Family 50'	$1,121	$1,121	($0)	
Single Family 60'	$1,345	$1,345	$0	

REVENUES:
Special Assessments

The District will levy a non-ad valorem special assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Interest
The District generates funds from invested funds.

EXPENDITURES:

Administrative:
Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. Amount is based on 5 supervisors attending 12 meetings during the fiscal year.
FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering Fees
The District's engineer, Osceola Engineering, Inc., will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, preparation and review of contract specifications and bid documents and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney
The District's legal counsel, Latham, Luna. Eden & Beaudine, will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions and other research as directed by the Board of Supervisors and the District Manager.
Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2022 Special Assessment Bonds, Assessment Area One Project and Series 2023 Special Assessment Bonds, Assessment Area Two Project. The District will contract with AMTEC Corporation for this service.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. The District has contracted with Governmental Management Services-Central Florida, LLC for this service on the Series 2022 Special Assessment Bonds, Assessment Area One Project and the Series 2023 Special Assessment Bonds, Assessment Area Two Project.

Dissemination - DTS

The District has contracted with Dissemination Technical Services (DTS) to utilize their software to meet the bond reporting requirements in the Continuing Disclosure Agreement(s) for each bond series issued by the District.

Annual Audit
The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted with DiBartolomeo, McBee, Hartley & Barnes, P.A. for this service.

Trustee Fees
The District will pay annual trustee fees for the Series 2022 Special Assessment Bonds, Assessment Area One Project and the Series 2023 Special Assessment Bonds, Assessment Area Two Project that are located with a trustee at USBank.

Assessment Administration
The District will contract with Governmental Management Services-Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.
Information Technology

The District has contracted with Governmental Management Services-Central Florida, LLC for costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, Adobe, Microsoft Office, etc.
Website Maintenance

The District has contracted with Governmental Management Services-Central Florida, LLC for the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statues. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone
Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.
Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance
The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies
Miscellaneous office supplies.

Property Appraiser Fee

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.
Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Commerce for $175. This is the only expense under this category for the District.
Operations & Maintenance:

Field Services

Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Property Insurance
Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Electric
Represents cost of electric services for items such as entrance lights, irrigation, etc. District currently has one account with Orlando Utilities Commission.

Account #	Description	Monthly	Annual	
02130 28116	56791 Cyrils Drive
Contingency - (Future Accounts)	$50	$600
$1,800	
Total			$2,400	

Streetlights

Represents costs for streetlights maintained with the District. The District currently has one account containing 108 streetlights for Phase 1 with Orlando Utilities Commission.

Account #	Description	Monthly	Annual	
02130 28116	71 - 20' Streetlights & 37 - 27" Streetlights	$5,900	$70,800	
	Phase 2A/B - Streetlights	$1,350	$16,200	
TBD	Phase 2C - Streetlights	$5,000	$60,000	
	Contingency		$7,350	
Total			$154,350	

Water & Sewer
Represents costs for reclaimed water for areas maintained by the District. The District currently has three accounts with Toho Water Authority. One additional account is expected to come online.

Account #	Description	Monthly	Annual	
002702083-033330659	2900 Addison Boulevard Odd	$2,675	$32,100	
002702083-033330679	5600 Quiet Palm Loop Even	$160	$1,920	
002702083-033330709	3100 Addison Boulevard Even	$730	$8,760	
002702083-033503511	5600 Even Stephens Road RM	$230	$2,760	
	3000 Even Park Vale Road Dog			
002702083-033504151	Station	$10	$120	
002825888-033510351	3100 Odd Addison Boulevard RM	$65	$780	
002825888-033510361	3100 ODD Zuni Road RM	$2,675	$32,100	
	Contingency		$10,355	
Total			$88,895	

Landscape Maintenance
The District will maintain the landscaping within the common areas of the District. These services include mowing, edging weed-eating, shrub pruning, tree pruning, etc. The District has contracted with United Land Services for this service.

Description	Monthly	Annual	
Landscape Maintenance			
Phase 1A & 1B	$7,758	$93,096	
Phase 2C	$2,232	$26,784	
Total		$119,880	

Landscape Contingency

Represents costs for installation of annuals, mulch and any other landscape expenses not covered under monthly landscape contract.

Lake Maintenance

Represents costs for maintenance of pond located within the District. The budgeted amount is based on proposal with Applied Aquatic Management, Inc.

Description	Monthly	Annual	
Pond Maintenance			
North, South & East Shoreline	$332	$3,984	
2 Stormwater Retention Ponds PH2C (7 Mths)	$228	$2,736	
Total		$6,720	

Irrigation Repairs

Represents estimated costs for any supplies and repairs to irrigation system maintained by the District.

Janitorial Services
Represents estimated costs for janitorial services for one public restroom. Amount is based on proposal by Clean Star Services of Central Florida, Inc.

Description	Monthly	Annual	
Janitorial Services - 3x Per Week	$360	$4,320	
Total		$4,320	

Repairs & Maintenance

Represents estimated costs for any repairs and maintenance to common areas maintained by the District.

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Bridgewalk
Community Development District Proposed Budget
FY2026
Debt Service Fund Series 2022

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Special Assessments	$	246,900	$	244,342	$	2,825	$	247,167	$	246,900	
Interest	11,500	7,138	6,125	13,263	11,500	
Carry Forward Surplus	99,872	100,669	-	100,669	111,480	
Total Revenues	$	358,272	$	352,149	$	8,950	$	361,099	$	369,880	

Expenditures:						
Series 2022
Interest - 12/15	

$	74,906	

$	74,906	

$	-	

$	74,906	

$	73,719	
Principal - 06/15	95,000	-	95,000	95,000	100,000	
Interest - 06/15	74,906	-	74,906	74,906	73,719	
Total Expenditures	$	244,813	$	74,906	$	169,906	$	244,813	$	247,438	

Other Sources/(Uses)						
Transfer In/(Out)	$	(5,700)	$	(2,932)	$	(1,875)	$	(4,807)	$	(4,500)	
Total Other Financing Sources (Uses)	$	(5,700)	$	(2,932)	$	(1,875)	$	(4,807)	$	(4,500)	
						
Excess Revenues (Expenditures)	$	107,760	$	274,311	$	(162,831)	$	111,480	$	117,943	

Interest - 12/15/2026	

$72,469	
				Total	$72,469	
				
Net Assessment	
$246,899	
				Collection Cost (6%)	$15,760	
				Gross Assessment	$262,659	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		Townhome 25'	117	$712	$83,282	
		Single Family 40'	54	$1,139	$61,501	
		Single Family 50'	48	$1,424	$68,334	
		Single Family 60'	29	$1,708	$49,542	
		Total	248		$262,659	

Bridgewalk
Series 2022, Special Assessment Bonds Assessment Area One Project
(Term Bonds Combined)

Amortization Schedule

Date	Balance		Principal		Interest		Annual	

6/15/25	
$  4,255,000	
$	
95,000	
$	
74,906.25	
$	
-	
12/15/25	$  4,160,000	$	-	$	73,718.75	$	243,625.00	
6/15/26	$  4,160,000	$	100,000	$	73,718.75	$	-	
12/15/26	$  4,060,000	$	-	$	72,468.75	$	246,187.50	
6/15/27	$  4,060,000	$	100,000	$	72,468.75	$	-	
12/15/27	$  3,960,000	$	-	$	71,218.75	$	243,687.50	
6/15/28	$  3,960,000	$	105,000	$	71,218.75	$	-	
12/15/28	$  3,855,000	$	-	$	69,643.75	$	245,862.50	
6/15/29	$  3,855,000	$	105,000	$	69,643.75	$	-	
12/15/29	$  3,750,000	$	-	$	68,068.75	$	242,712.50	
6/15/30	$  3,750,000	$	110,000	$	68,068.75	$	-	
12/15/30	$  3,640,000	$	-	$	66,418.75	$	244,487.50	
6/15/31	$  3,640,000	$	115,000	$	66,418.75	$	-	
12/15/31	$  3,525,000	$	-	$	64,693.75	$	246,112.50	
6/15/32	$  3,525,000	$	115,000	$	64,693.75	$	-	
12/15/32	$  3,410,000	$	-	$	62,968.75	$	242,662.50	
6/15/33	$  3,410,000	$	120,000	$	62,968.75	$	-	
12/15/33	$  3,290,000	$	-	$	61,018.75	$	243,987.50	
6/15/34	$  3,290,000	$	125,000	$	61,018.75	$	-	
12/15/34	$  3,165,000	$	-	$	58,987.50	$	245,006.25	
6/15/35	$  3,165,000	$	130,000	$	58,987.50	$	-	
12/15/35	$  3,035,000	$	-	$	56,875.00	$	245,862.50	
6/15/36	$  3,035,000	$	135,000	$	56,875.00	$	-	
12/15/36	$  2,900,000	$	-	$	54,681.25	$	246,556.25	
6/15/37	$  2,900,000	$	135,000	$	54,681.25	$	-	
12/15/37	$  2,765,000	$	-	$	52,487.50	$	242,168.75	
6/15/38	$  2,765,000	$	140,000	$	52,487.50	$	-	
12/15/38	$  2,625,000	$	-	$	50,212.50	$	242,700.00	
6/15/39	$  2,625,000	$	145,000	$	50,212.50	$	-	
12/15/39	$  2,480,000	$	-	$	47,856.25	$	243,068.75	
6/15/40	$  2,480,000	$	150,000	$	47,856.25	$	-	
12/15/40	$  2,330,000	$	-	$	45,418.75	$	243,275.00	
6/15/41	$  2,330,000	$	155,000	$	45,418.75	$	-	
12/15/41	$  2,175,000	$	-	$	42,900.00	$	243,318.75	
6/15/42	$  2,175,000	$	160,000	$	42,900.00	$	-	
12/15/42	$  2,015,000	$	-	$	40,300.00	$	243,200.00	
6/15/43	$  2,015,000	$	165,000	$	40,300.00	$	-	
12/15/43	$  1,850,000	$	-	$	37,000.00	$	242,300.00	
6/15/44	$  1,850,000	$	175,000	$	37,000.00	$	-	
12/15/44	$  1,675,000	$	-	$	33,500.00	$	245,500.00	
6/15/45	$  1,675,000	$	180,000	$	33,500.00	$	-	
12/15/45	$  1,495,000	$	-	$	29,900.00	$	243,400.00	
6/15/46	$  1,495,000	$	190,000	$	29,900.00	$	-	
12/15/46	$  1,305,000	$	-	$	26,100.00	$	246,000.00	
6/15/47	$  1,305,000	$	195,000	$	26,100.00	$	-	
12/15/47	$  1,110,000	$	-	$	22,200.00	$	243,300.00	
6/15/48	$  1,110,000	$	205,000	$	22,200.00	$	-	
12/15/48	$	905,000	$	-	$	18,100.00	$	245,300.00	
6/15/49	$	905,000	$	215,000	$	18,100.00	$	-	
12/15/49	$	690,000	$	-	$	13,800.00	$	246,900.00	
6/15/50	$	690,000	$	220,000	$	13,800.00	$	-	
12/15/50	$	470,000	$	-	$	9,400.00	$	243,200.00	
6/15/51	$	470,000	$	230,000	$	9,400.00	$	-	
12/15/51	$	240,000	$	-	$	4,800.00	$	244,200.00	
6/15/52	$	240,000	$	240,000	$	4,800.00	$	244,800.00	
Totals		$	4,255,000	$	2,584,381.25	$	6,839,381.25	

Bridgewalk
Community Development District Proposed Budget
FY2026
Debt Service Fund Series 2023

Proposed
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Special Assessments	$	377,387	$	376,164	$	1,224	$	377,388	$	377,387	
Interest	6,000	9,740	6,500	16,240	12,000	
Carry Forward Surplus*	199,404	196,446	-	196,446	234,125	
Total Revenues	$	582,791	$	582,350	$	7,724	$	590,074	$	623,512	

Expenditures:						
Series 2023
Interest - 12/15	

$	155,569	

$	155,569	

$	-	

$	155,569	

$	154,469	
Principal - 12/15	40,000	40,000	-	40,000	65,000	
Interest - 06/15	154,469	-	154,469	154,469	152,681	
Total Expenditures	$	350,038	$	195,569	$	154,469	$	350,038	$	372,150	

Other Sources/(Uses)						
Transfer In/(Out)	$	-	$	(1,412)	$	(4,500)	$	(5,912)	$	(5,000)	
Total Other Financing Sources (Uses)	$	-	$	(1,412)	$	(4,500)	$	(5,912)	$	(5,000)	
						
Excess Revenues (Expenditures)	$	232,754	$	385,370	$	(151,245)	$	234,125	$	246,362	

*Less Reserve amount.				

Principal - 12/15/2026	

$70,000	
				Interest - 12/15/2026	$152,681	
				Total	$222,681	
				
Net Assessment	
$377,387	
				Collection Cost (6%)	$24,089	
				Gross Assessment	$401,475	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		Single Family 40'	33	$1,139	$37,585	
		Single Family 50'	174	$1,424	$247,719	
		Single Family 60'	68	$1,708	$116,172	
		Total	275		$401,475	

Bridgewalk Community Development District Series 2023, Special Assessment Bonds (Term Bonds Combined)

Amortization Schedule

Date		Balance	Principal	Interest	Annual	

6/15/25	
$	
4,890,000	
$	-	
$	154,469	
$	-	
12/15/25	$	4,890,000	$	65,000	$	154,469	$	373,938	
6/15/26	$	4,825,000	$	-	$	152,681	$	-	
12/15/26	$	4,825,000	$	70,000	$	152,681	$	222,681	
6/15/27	$	4,755,000	$	-	$	150,756	$	-	
12/15/27	$	4,755,000	$	75,000	$	150,756	$	225,756	
6/15/28	$	4,680,000	$	-	$	148,694	$	-	
12/15/28	$	4,680,000	$	80,000	$	148,694	$	228,694	
6/15/29	$	4,600,000	$	-	$	146,494	$	-	
12/15/29	$	4,600,000	$	80,000	$	146,494	$	372,988	
6/15/30	$	4,520,000	$	-	$	144,294	$	-	
12/15/30	$	4,520,000	$	85,000	$	144,294	$	373,588	
6/15/31	$	4,435,000	$	-	$	141,956	$	-	
12/15/31	$	4,435,000	$	90,000	$	141,956	$	373,913	
6/15/32	$	4,345,000	$	-	$	139,144	$	-	
12/15/32	$	4,345,000	$	95,000	$	139,144	$	373,288	
6/15/33	$	4,250,000	$	-	$	136,175	$	-	
12/15/33	$	4,250,000	$	105,000	$	136,175	$	377,350	
6/15/34	$	4,145,000	$	-	$	132,894	$	-	
12/15/34	$	4,145,000	$	110,000	$	132,894	$	375,788	
6/15/35	$	4,035,000	$	-	$	129,456	$	-	
12/15/35	$	4,035,000	$	115,000	$	129,456	$	373,913	
6/15/36	$	3,920,000	$	-	$	125,863	$	-	
12/15/36	$	3,920,000	$	125,000	$	125,863	$	376,725	
6/15/37	$	3,795,000	$	-	$	121,956	$	-	
12/15/37	$	3,795,000	$	130,000	$	121,956	$	373,913	
6/15/38	$	3,665,000	$	-	$	117,894	$	-	
12/15/38	$	3,665,000	$	140,000	$	117,894	$	375,788	
6/15/39	$	3,525,000	$	-	$	113,519	$	-	
12/15/39	$	3,525,000	$	150,000	$	113,519	$	377,038	
6/15/40	$	3,375,000	$	-	$	108,831	$	-	
12/15/40	$	3,375,000	$	155,000	$	108,831	$	372,663	
6/15/41	$	3,220,000	$	-	$	103,988	$	-	
12/15/41	$	3,220,000	$	165,000	$	103,988	$	372,975	
6/15/42	$	3,055,000	$	-	$	98,831	$	-	
12/15/42	$	3,055,000	$	175,000	$	98,831	$	372,663	
6/15/43	$	2,880,000	$	-	$	93,363	$	-	
12/15/43	$	2,880,000	$	190,000	$	93,363	$	376,725	
6/15/44	$	2,690,000	$	-	$	87,425	$	-	
12/15/44	$	2,690,000	$	200,000	$	87,425	$	374,850	
6/15/45	$	2,490,000	$	-	$	80,925	$	-	
12/15/45	$	2,490,000	$	215,000	$	80,925	$	376,850	
6/15/46	$	2,275,000	$	-	$	73,938	$	-	
12/15/46	$	2,275,000	$	225,000	$	73,938	$	372,875	
6/15/47	$	2,050,000	$	-	$	66,625	$	-	
12/15/47	$	2,050,000	$	240,000	$	66,625	$	373,250	
6/15/48	$	1,810,000	$	-	$	58,825	$	-	
12/15/48	$	1,810,000	$	255,000	$	58,825	$	372,650	
6/15/49	$	1,555,000	$	-	$	50,538	$	-	
12/15/49	$	1,555,000	$	275,000	$	50,538	$	376,075	
6/15/50	$	1,280,000	$	-	$	41,600	$	-	
12/15/50	$	1,280,000	$	290,000	$	41,600	$	373,200	
6/15/51	$	990,000	$	-	$	32,175	$	-	
12/15/51	$	990,000	$	310,000	$	32,175	$	374,350	
6/15/52	$	680,000	$	-	$	22,100	$	-	
12/15/52	$	680,000	$	330,000	$	22,100	$	374,200	
6/15/53	$	350,000	$	-	$	11,375	$	-	
12/15/53	$	350,000	$	350,000	$	11,375	$	372,750	
Totals			$ 4,890,000	$ 5,973,563	$ 10,863,563