LOWE S FARM PROPERTY EVALUATION AND RESERVE FUND STUDY MANSFIELD, TEXAS

Transcription

1 3218 Fannin Road Melissa, TX (972) TEL Firm Reg. No F PROPERTY EVALUATION AND RESERVE FUND STUDY LOWE S FARM MANSFIELD, TEXAS Prepared for: LOWE S FARM HOMEOWNERS ASSOCIATION C/o Ms. Jessica Sedgwick FirstService Residential 1240 Keller Parkway, Suite 200 Keller, TX Project Number: C Date of Investigation: June 16, 2015 Investigator: Phillip Nieman, P.E. Review: David Dotson, P.E., RS July 2015

2 CONTENTS 1.0 INTRODUCTION EXECUTIVE SUMMARY PURPOSE & SCOPE PURPOSE SCOPE SOURCES OF INFORMATION STANDARDS OF REFERENCE DESCRIPTION SITE IMPROVEMENTS TOPOGRAPHY STORM DRAINAGE PAVING & CURBING FLATWORK LANDSCAPING & APPURTENANCES CABANA STRUCTURE VENTILATION ROOFING SYSTEMS EXTERIOR FINISHES MECHANICAL SYSTEMS ELECTRICAL SYSTEMS PLUMBING SYSTEMS POOL AND MISCELLANEOUS AMENITIES CONCLUSION LIMITATIONS APPENDIX A: RESERVE FUND PROJECTIONS APPENDIX B: PROJECT PHOTOGRAPHS APPENDIX C: EXECUTIVE SUMMARY Lowe s Farm Mansfield, TX

3 1.0 INTRODUCTION LOWE S FARM HOMEOWNERS ASSOCIATION, through FirstService Residential, authorized Criterium Dotson Engineers to conduct a Property Evaluation and Reserve Fund Study the property located along E. Broad Street east of S.H.-360 in Mansfield, TX. Studies of this nature are important to ensure a community has sufficient funds for long-term, periodic capital expenditure requirements. Anticipating large expenditures over an extended period of time through a structured analysis and scheduling process assists the Association in meeting financial requirements without increasing the service fees above permitted maximums, borrowing the funds, or levying special financial assessments to the home owners. Typically, a community Association has two broad cash requirements: the general operating reserves and the capital repair and replacement reserves. In this report, we will focus on those items falling under the capital repair and replacement reserve criteria. We have projected a capital repair and replacement reserve for thirty years. The first ten years are the most reliable. Such a study should be updated approximately every four years. This report is structured to analyze components of the community for which the Association is responsible and to assess a useful expected life and useful remaining life to those components. The anticipated scheduled repair or replacement of the component and the anticipated expense for the activity are then analyzed in conjunction with the current capital reserves funding program for the community. Funding program recommendations are made with the objective of limiting substantial cash excesses while minimizing financial burdens that can result from significant cash inadequacies. This report is intended to be used as a tool to determine reserve fund allocation requirements for the community, to manage future Association obligations, and to inform the community of future financial needs in general. The report that follows has been prepared from the perspective of what an owner of this property would benefit from knowing. Some items, beyond those of immediate concern, may be discussed. Therefore, the report should be read in its entirety in order to fully understand all of the information that has been obtained. Lowe s Farm Mansfield, TX Page 1

4 2.0 EXECUTIVE SUMMARY The cabana and site are, generally, in good condition. In this section of the report, we will address those issues that, in our opinion, will require immediate repair or replacement. For a more detailed discussion of all of our findings and any other material deficiencies that will require repair or replacement over the term of this study, refer to the appropriate sections of this report. Based on our evaluation, the current level of funding of the reserve for this project is not adequate. A more detailed analysis of the reserve fund has been provided in Appendix A. Based on our observations, there are immediate material deficiencies. Those items are as follows: Wood fence stain Playground mulch replacement There are, of course, other capital expenditures to be expected over the next thirty years. Those items that will require attention are discussed in detail in this report and can be found in their appropriate sections. For your convenience, we have prepared the following summary of the condition of the major systems of the property. Please refer to the appropriate sections of this report for a more detailed discussion of these systems. Lowe s Farm Mansfield, TX Page 2

5 3.0 PURPOSE & SCOPE 3.1 Purpose The purpose of this study is to perform a reserve fund analysis and to determine a capital needs plan. It is intended to be used as a tool for the LOWE S FARM HOMEOWNERS ASSOCIATION in determining the allocation requirements into the reserve fund in order to meet future anticipated capital expenditures for the community. This report forecasts obligations for the community thirty years into the future. It should be noted that events might occur that could have an effect on the underlying component or system useful life assumptions used in this study. Likewise, inevitable market fluctuations can have an impact on component or system replacement and repair costs. Therefore, a study such as this should be updated from time to time, usually on a three to fiveyear cycle, in order to reflect the most accurate needs and obligations of the community. 3.2 Scope This study has been performed according to the scope as generally defined by FirstService Residential and Criterium Dotson Engineers. The findings and recommendations are based on a review of available documents; and an investigation of the recreation area and site. The investigation involved, in particular, the cabana, storage building, pools, pool equipment, pavilions, arbor, playground equipment, and concrete parking lot. Also included in the property evaluation were the entrance monuments, perimeter fencing, and other common areas within the community. The report contains the following: A description of the overall condition of components and systems that are the responsibility of the Association, and conditions that may limit the expected useful life of the components. Information about significant deficiencies, deferred maintenance items, and material code violations based on a visual survey of the recreation area and site, research of documents, and conversations with people who have knowledge about the community. A reserve fund analysis including a component inventory, anticipated remaining component useful life, anticipated component repair or replacement costs, and forecasted fund levels as a result of those anticipated costs. The statements in this report are opinions about the present condition of the subject community. They are based on visual evidence available during a diligent investigation of all reasonably accessible areas falling under the responsibility of the Association. We did not remove any surface materials, perform any destructive testing, or move any furnishings. This study is not an exhaustive technical evaluation. Such an evaluation would entail a significantly larger scope than this effort. For Lowe s Farm Mansfield, TX Page 3

6 additional limitations, see Section Sources of Information Onsite inspections of the property occurred on the following date: June 16, 2015 The following people were interviewed during our study: Ms. Jessica Sedgwick, FirstService Residential Property Manager The following documents were made available to us and reviewed: No construction documents were available Financial data 3.4 Standards of Reference For your reference, the following definitions may be helpful: Excellent: Component or system is in "as new" condition, requiring no rehabilitation and should perform in accordance with expected performance. Good: Component or system is sound and performing its function, although it may show signs of normal wear and tear. Some minor rehabilitation work may be required. Fair: Component or system falls into one or more of the following categories: a) Evidence of previous repairs not in compliance with commonly accepted practice, b) Workmanship not in compliance with commonly accepted standards, c) Component or system is obsolete, d) Component or system approaching end of expected performance. Repair or replacement is required to prevent further deterioration or to prolong expected life. Poor: Component or system has either failed or cannot be relied upon to continue performing its original function as a result of having exceeded its expected performance, excessive deferred maintenance, or state of disrepair. Present condition could contribute to or cause the deterioration of other adjoining elements or systems. Repair or replacement is required. Adequate: A component or system is of a capacity that is defined as enough for what is required, sufficient, suitable, and/or conforms to standard construction practices. All ratings are determined by comparison to other structures of similar age and construction type. Further, some details of workmanship and materials will be examined more closely in higher quality structures where such details typically become more relevant. All directions (left, right, rear, etc.), when used, are taken from the viewpoint of an observer standing in front of an item and facing it. Lowe s Farm Mansfield, TX Page 4

7 Repair/Replacement Reserves - Non-annual maintenance items that will require significant expenditure over the life of the structure. Included are items that will reach the end of their estimated useful life during the course of this forecast, or, in the opinion of the investigator, will require attention during that time. 4.0 DESCRIPTION LOWE S FARM was constructed in/around The community consists of 438 single family homes. The community is located on a 127-acre parcel that slopes generally to the north. There are three entrances into the community. The entrances at Lowe s Farm Parkway and Volk Lane provide access to E. Broad Street Woodcrest Lane provides access to S.H The main entrance at Lowe s Farm Parkway has monuments that are lighted, landscaped, and irrigated. Other monuments are located within the community and at the recreation center. Brick perimeter fence borders the community to the south along E. Broad Street and along portions of Lowe s Farm Parkway. Wrought iron fencing surrounds the recreation center, and stained boardon-board fencing runs east and west along the recreation area border. A recreation area is located 1401 Parkside Drive and includes a swimming pool, splash pool, cabana, pavilions, playground equipment, and a parking lot. 5.0 SITE IMPROVEMENTS 5.1 Topography Description Evaluation & Recommendations 5.2 Storm Drainage Description Evaluation & Recommendations The ground slopes generally to the north toward Lynn Creek. No issues were noted. Drainage in the community is handled over the surface with curb inlets and underground storm drainage at the streets. Most storm drainage is conveyed to Lynn Creek and eventually to Joe Pool Lake. No issues were noted with storm drainage. 5.3 Paving & Curbing PAVING & CURBING Type of Paving Type of Curbing Number of Parking Spaces Table 5.1: Parking Area Cast-in -Place Concrete Type II, Cast-in-Place Concrete 14 Spaces Lowe s Farm Mansfield, TX Page 5

8 Description The recreation center has a cast-in-place concrete paved parking lot with fourteen striped parking spaces, including two accessible spaces for the disabled. All streets and curbs within the community are cast-in-place concrete and are owned and maintained by the City. Evaluation & Recommendations Parking lot concrete is generally in good condition. Minor hairline cracks were observed. Most cracks and joints appeared well-sealed. Any cracks in the concrete paving should be sealed to prevent seepage of water below the paving, causing premature failure. 5.4 Flatwork Description Evaluation & Recommendations Periodic pavement patching, repairs, and replacement will be required in the future. Sidewalks run throughout the community. With the exception of the common area walkways, all sidewalks are owned and maintained by the City. The concrete walkways are in good general condition at this time; however, one area of minor cracking was observed on the west side of the lot. Walkways will require periodic repairs and replacement due to the expansive nature of soils in this area. 5.5 Landscaping & Appurtenances Description Entrance monuments at Lowe s Farm Parkway are composed of a stone and brick clad walls with custom cast stone signage. The monuments are lit by incandescent accent lights. The community entrances are attractively landscaped with perennial flowers and shrubs. Another monument is located at the recreation center. It is approximately twenty-five in length and stands roughly four and half feet tall. The wall contains a large cast stone sign that measures 12 by 2. The monument is lit by three accent lights. A tower with stone veneer, wrought iron accents, and a small shingle roof is located on Lowe s farm Parkway and is also lit with accent lights. The irrigation controllers for the landscaped areas are located at the main entrance, behind the tower and with the pool equipment. There are two areas of stone walls within the property. One wall forms a partial circle around the tower. The other wall is located at the recreation area. Lowe s Farm Mansfield, TX Page 6

9 The south border of the property, portions of Lowe s Farm Parkway, and the west side of the recreation area are lined with a prefabricated brick fence with brick pilasters (5,200 lin. ft.). Brick fencing consists of single pane brick panels spaced between stone pilasters; brick fencing is constructed with a concrete footer at the bottom of fencing panels. Board-on-board cedar fencing with steel pipe supports is located along the north side of recreation area (~190 lin. ft.). Wrought iron fencing encircles the cabana and pool deck and playground equipment (~600 lin. ft.). Street lighting is provided throughout the community by good quality, pole-mounted lights that are maintained by City or Utility provider. There are two lights that illuminate the parking lot. Evaluation & Recommendations The entrance monuments are in good condition and will also require periodic repairs on an approximate 10 year cycle. Monument accent lights are scheduled for an upgrade in the near term. Landscaping is in good condition - routine maintenance and replacement will always be required. Landscaping is assumed to be accounted for under the annual operating budget. Irrigation controllers and system appeared to be in good condition and working order. Stone walls are also in good condition; they will require periodic repairs on an approximate 12 year cycle. Any cracks that develop in the retaining walls should be sealed immediately to avoid further damage to the wall due to freeze / thaw cycles. Brick perimeter fencing is in good condition. Periodic repairs will be required. Historically, single pane brick fences tend to deteriorate around 20 years in this area. We recommend planning for replacement in the future. Given that concrete footers are present at the bottom of the brick panels, the fence will likely last about 30 years. Cleaning, priming, and painting of the wrought iron fencing including the pool area is recommended approximately four years to help realize its maximum design life. It will require repainting approximately every 5 to 6 years. The wood fence is in good condition however it is due for staining. 6.0 CABANA 6.1 Structure Description The foundation is a cast-in-place concrete slab. It has exposed wood Lowe s Farm Mansfield, TX Page 7

10 framing and columns that support a gable roof. Evaluation & Recommendations 6.2 Ventilation Description Evaluation & Recommendations 6.3 Roofing Systems Description Evaluation & Recommendations 6.4 Exterior Finishes Description No visible indications of structural problems were observed. The structure is naturally ventilated. No signs of excess moisture were observed at the time of inspection. Cabana, pavilions, and storage buildings roofing are covered with standing seam metal panels (~3,850 sq. ft.) Roofing surfaces are in good condition. Standing seam metal roofs generally have an average lifespan of forty 40 years. The exterior of the cabana is clad in brick veneer, hardboard lap siding, and painted trim. The storage building exterior is covered with a brick veneer as well. The two pavilions and arbor have stained wood columns and rood decks. Hollow metal doors are located at the restrooms and storage building. Evaluation & Recommendations The hardboard siding and trim will require periodic painting in order to provide weather protection to the material. The cabana was recently painted and is very good condition. Painting of the doors and trim on the cabana has been accomplished on an 8 year cycle. The pavilion framing and arbor will require periodic washing and staining in order to provide complete weather protection to the product. The brick veneer is in good condition and should only require minimal periodic joint maintenance throughout the life of the structure. 7.0 MECHANICAL SYSTEMS 7.1 Electrical Systems CABANA ELECTRICAL SYSTEMS Amperage 200 Amp Voltage/Phase 120 / 240 Service Entrance Underground Branch Wiring Copper Table 8.1: Electrical System Summary Description Two electrical panels are located at the west exterior wall of the cabana. All power is distributed from this point by copper wiring. There are also small electrical panels powering the irrigation Lowe s Farm Mansfield, TX Page 8

11 controllers/monument lighting at each irrigation controller location. Incandescent spotlights are located at the eaves of cabana, and florescent fixtures are located under the roofs and at the restrooms. The pavilion north of the main pool is lit by fluorescent fixtures and high pressure sodium fixture mounted at the south and east eaves. Evaluation & Recommendations 7.2 Plumbing Systems Description The visible portions of the electrical system are generally in good condition. Water and sewer service is provided by the City of Mansfield. Water distribution piping is copper. Sewage collection piping is PVC. The plumbing fixtures are vitreous china, of commercial quality, with good quality accessories. Men s Restroom -One lavatory -One urinal -One toilet Women s Restroom -One lavatory -Two toilets There is a shower fixture between the restrooms of the cabana. Evaluation & Recommendations 8.0 POOL AND MISCELLANEOUS AMENITIES Description The system and fixtures are generally in good condition. The pool area is enclosed by ornamental iron fencing and has controlled access provided by a DXS card reader mechanism. The pool and wading pool (~4,000 sq. ft.) are surfaced with gunite pool surfacing and have tile coping and tile at the waterline. Pool apron/decking is cast-in-place concrete with a Kool-Deck coating. Pool equipment is located in a fenced area at the west side of the cabana. Pool equipment consists of two (2) pumps and two (2) sand filters. Pool furnishings consist of 28 plastic sling chaises 36 plastic sling chairs 9 plastic tables 12 plastic side tables 1 wrought iron table 4 wrought iron sling chairs Lowe s Farm Mansfield, TX Page 9

12 There are two thermoplastic coated steel picnic tables, and five park benches. Metal and plastic playground equipment set is located just south of the pool area. Evaluation & Recommendations The pool should be planned for periodic resurfacing in approximately seven years. The wading pool was reportedly resurfaced in The pool equipment is generally in good condition. Routine maintenance and replacement of pool equipment can be expected. The deck was also repaired in 2014 and is in very good condition. Minor surface cracking repairs were observed and more cracks can be expected in the future. Regular patching/sealing should be anticipated. The decking to coping joint will require periodic resealing (Deck-O-Seal), on a 4 year cycle. The chaises and chairs are of good quality and should be expected to last another 3 seasons. Playground equipment is of good quality and condition. Park benches, picnic tables, and trash receptacles are of good quality and condition. 9.0 CONCLUSION In summary, we consider the community assets to be in generally good condition when compared to others of similar age and construction type. While some components are in need of a repair and replacement program, the program can be prioritized and planned in conjunction with reserve strategies. We feel that the reserve financials included with this report outline several possible strategies for the community to adopt given the current condition of the project as a whole. As time passes, it may become necessary to reestablish financial priorities and capital expenditure schedules given any unforeseen circumstances. We recommend and encourage this activity LIMITATIONS The observations described in this study are valid on the date of the investigation and have been made under the conditions noted in the report. We prepared this study for the exclusive use of FirstService Residential and LOWE S FARM HOMEOWNERS ASSOCIATION. Criterium Dotson Engineers does not intend any other individual or party to rely upon this study without our express written consent. If another individual or party relies on this study, they shall indemnify and hold Criterium Dotson Engineers harmless for any damages, losses, or expenses they may incur as a result of its use. This study is limited to the visual observations made during our inspection. We did not remove surface materials, conduct any destructive or invasive testing, move furnishings or equipment, or undertake any digging or Lowe s Farm Mansfield, TX Page 10

13 excavation. Accordingly, we cannot comment on the condition of systems that we could not see, such as buried structures and utilities, nor are we responsible for conditions that could not be seen or were not within the scope of our services at the time of the investigation. We did not undertake to completely assess the stability of the structures or the underlying soil since this effort would require excavation and destructive testing. Likewise, this is not a seismic assessment. We did not investigate the following areas: Buried utilities or infrastructure Concealed structural members or systems We do not render an opinion on uninvestigated portions of the community. We did not perform any computations or other engineering analysis as part of this evaluation, nor did we conduct a comprehensive code compliance investigation. This study is not to be considered a warranty of condition, and no warranty is implied. The appendices are an integral part of this report and must be included in any review. In our Reserve Fund Analysis, we have provided estimated costs. These costs are based on our general knowledge of building systems and the contracting and construction industry. When appropriate, we have relied on standard sources, such as Means Building Construction Cost Data, to develop estimates. However, for items that we have developed costs (e.g.: structural repairs), no standard guide for developing such costs exists. Actual costs can vary significantly, based on the availability of qualified contractors to do the work, as well as many other variables. We cannot be responsible for the specific cost estimates provided. We have performed no design work as part of this study, nor have we obtained competitive quotations or estimates from contractors as this also is beyond the scope of the project. The actual cost to remedy deficiencies and deferred maintenance items that we have identified may vary significantly from estimates and competitive quotations from contractors. If you have any questions about this study or the reserve fund analysis, please feel free to contact us. Thank-you for the opportunity to be of assistance to you. Respectfully submitted, CRITERIUM-DOTSON ENGINEERS Lowe s Farm Mansfield, TX Page 11

14 Appendix A: RESERVE FUND PROJECTIONS

15 INTRODUCTION The following is a projected reserve fund analysis for non-annual items as discussed in the report. This projection takes into consideration a reasonable return on invested moneys and inflation. Please review this thoroughly and let us know of any changes that may be desired. The intent of this reserve fund projection is to help the Association develop a reserve fund to provide for anticipated repair or replacements of various system components during the next thirty years. The capital items listed are those that are typically the responsibility of the association. However, Association by-laws vary and, therefore, which components are the responsibilities of the owner and which are the responsibilities of the Association can vary. The Association should confirm that the items listed should be financed by the Association reserve fund. This projection provides the following: An input sheet that defines all the criteria used for the financial alternatives, including the assumed inflation rate and rate of return on deposited reserve funds. A table that lists anticipated replacement and/or repair items complete with estimated remaining life expectancies, projected costs of replacement and/or repair, a frequency in years of when these items require replacement and/or repair, and a projection based on this frequency. A table and graph that represent end of year balances versus capital expenditures based on your current funding program and reserve balances, and alternatives to your current program. The provided graphs illustrate what effects the funding methods will have over the presented thirty-year period versus the anticipated capital expenditures. Care should be taken in analyzing the graphs due to varying graphic scales that occur within each graph and between graphs. Based on our developed list of capital items and accounting for inflation, the current funding is not adequate. The Association should bear in mind that unanticipated expenditures can always arise and maintenance of a significant reserve fund balance can be viewed as a way to avoid special assessments. Our objective is to maintain positive funding levels over 30 years without building up excessive reserves. At the end of 30 years, we look to maintain a balance at least equal to the average annual reserve requirement unless we are anticipating additional major expenditures following quickly after 30 years. To achieve this goal we have projected anticipated maintenance/replacement costs, interest earned on investments, an assumed inflation factor and the estimated current fund balance to determine the required level of funding for capital needs. Please remember this does not include any allowance for routine maintenance and operations costs. Only capital costs are included.

16 We have included three alternatives to your current funding program and recommend that the board adopt an alternative that best reflects the objectives of the community: EXISTING FUNDING LEVEL: We have assessed current Capital Reserve Fund balance and current level of contribution into capital reserves and determined that the Associations current financial status is adequate to meet the Association s short-term needs, but is NOT adequate to meet the long-term financial needs of the community. ALTERNATIVE # 1: Minimum required funding for capital reserves over the duration without special assessments. This alternative maintains the initial funding combined with a periodic increase every 2 years for the next 15 years. This alternative creates an adequate fund balance throughout the study period*. *Note that the projected brick fence replacements must be accrued for in the next 19 years. This will require a large amount of funding to be created. Following fence replacements, the funding levels shown could actually be decreased back to a smaller amount in about year 20, but we would suggest waiting until closer to that time to make that decision, as future requirements can certainly change. ALTERNATIVE # 2: Minimum required contribution together with annual escalation in dues for capital reserves over the duration. This alternative also maintains the current annual contribution combined with annual increases in contribution over the next 17 years. This alternative creates an adequate fund balance throughout the study period and also represents a solid approach*. ALTERNATIVE # 3; Alternative 3 reviews maintaining minimum level funding at current level over the duration of the funding period. This alternative requires large special assessments at years 18, 24 and year 28, but holds annual dues for capital reserve to a minimum. This alternative is not recommended but shows what the financial impact will be without long-term planning. Please note that the reserve fund study does not include typical annual maintenance items. Our assumption is that you already have an annual operating budget that provides for these typical, repetitive items. This includes miscellaneous repairs, lawn and grounds maintenance, routine minor painting, etc. We have focused on those significant, non-annual items where careful financial planning is important. Finally, please note that the estimates we have developed are based on 2015 dollars. Our reserve fund study does adjust for an estimated annual inflation and a given return on investment assuming that the indicated fund balances are maintained.

17 Reserve Study Worksheet - Existing Funding Levels General Information: 1 Organization: Lowe's Farm Homeowners Association 2 Address: 1401 Parkside Drive Mansfield, TX Number of Homes 438 Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 4 Age of Development (in years) 13 Res. Fund Contrib. (First Year)... $2,705 $16,230 $6.18 $37.05 Years Out Total/Year Per Unit 5a Study Period (in years) 30 Res. Fund Contrib. (Remaining Years)... $2,705 $32,460 $6.18 $ b Normal Fiscal Year starts: January 1, c Partial Fiscal Year starts: July 1, d Partial Year Length: 6 months Final Balance Computed... ($1,600,376) 6 Site Inspection Date June 15, 2015 Average Capital Expenditure per year... $90,811 7 Reserve Funds at start $136,547 8 Rate of Return on invested Reserve Funds (%) 1.0% 9 Inflation Rate (%) 3.0% 10 Yearly Threshold $0 11 Annual Maintenance Budget $0 12 Annual Maintenance Escalation Rate 0.0% 13 Target Funding Percentage 0.0% Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $136,547 $141,215 $171,251 $199,051 $222,100 $234,472 $229,880 $254,049 $221,011 $241,152 $166,639 $182,834 $133,954 $109,131 $132,995 $16,230 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,398 $1,696 $1,971 $2,199 $2,322 $2,276 $2,515 $2,188 $2,388 $1,650 $1,810 $1,326 $1,081 $1,317 $1,366 $12,960 $4,120 $6,631 $11,610 $22,409 $39,328 $10,806 $67,686 $14,707 $108,622 $18,076 $82,666 $58,364 $9,913 $28,890 $141,215 $171,251 $199,051 $222,100 $234,472 $229,880 $254,049 $221,011 $241,152 $166,639 $182,834 $133,954 $109,131 $132,995 $137,930 Ending Reserve Balance: Percent Funded: 40.99% 44.29% 45.47% 45.63% 44.14% 40.58% 43.23% 34.88% 38.05% 24.60% 28.16% 19.39% 15.86% 18.85% 18.32% Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $137,930 $78,979 $84,985 $23,465 $49,606 ($1,186,341) ($1,188,125) ($1,164,874) ($1,234,676) ($1,370,208) ($1,377,408) ($1,395,094) ($1,402,962) ($1,450,368) ($1,441,954) $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $782 $841 $232 $491 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $92,193 $27,296 $94,212 $6,810 $1,268,407 $34,244 $9,208 $102,262 $167,992 $39,660 $50,146 $40,328 $79,866 $24,046 $190,882 $78,979 $84,985 $23,465 $49,606 ($1,186,341) ($1,188,125) ($1,164,874) ($1,234,676) ($1,370,208) ($1,377,408) ($1,395,094) ($1,402,962) ($1,450,368) ($1,441,954) ($1,600,376) Ending Reserve Balance: Percent Funded: 9.91% 10.60% 2.79% 5.92% % % % % % % % % % % % Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Criterium Engineers Page 1 of 21 8/17/2015

18 Reserve Study Worksheet - Alternative 1, Level Funding with Steps *For the first 15 years of the study General Information: 1 Organization: Lowe's Farm Homeowners Association 2 Address: 1401 Parkside Drive Mansfield, TX Number of Homes 438 CURRENT FUNDING Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 4 Age of Development (in years) 13 Res. Fund Contrib. (First Year)... $2,705 $16,230 $6.18 $37.05 Years Out Total/Year Per Unit 5a Study Period (in years) 30 Res. Fund Contrib. (Remaining Years)... $2,705 $32,460 $6.18 $ b Normal Fiscal Year starts: January 1, c Partial Fiscal Year starts: July 1, d Partial Year Length: 6 months Final Balance Computed... ($1,600,376) 6 Site Inspection Date June 15, 2015 Average Capital Expenditure... $90,811 7 Reserve Funds at start $136,547 8 Rate of Return on invested Reserve Funds (%) 1.0% ALTERNATIVE 1 Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 9 Inflation Rate (%) 3.0% Monthly Amount, (First Year)... $2,705 $32,460 $6.18 $74.11 Years Out Total/Year Per Unit 10 Yearly Threshold $0 Monthly Amount, (Last Year)... $11,465 $137,580 $26.18 $ Annual Maintenance Budget $0 Balance Required Final Year... $90, Annual Maintenance Escalation Rate 0.0% 13 Target Funding Percentage 0.0% Final Balance Computed... $725,263 Average Capital Expenditure... $90,811 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $136,547 $141,215 $171,251 $212,323 $248,776 $287,958 $310,444 $375,233 $383,221 $458,070 $438,812 $524,086 $544,975 $603,891 $712,331 $16,230 $32,460 $45,600 $45,600 $58,740 $58,740 $71,880 $71,880 $85,020 $85,020 $98,160 $98,160 $111,300 $111,300 $124,440 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,398 $1,696 $2,102 $2,463 $2,851 $3,074 $3,715 $3,794 $4,535 $4,345 $5,189 $5,396 $5,979 $7,053 $8,079 $12,960 $4,120 $6,631 $11,610 $22,409 $39,328 $10,806 $67,686 $14,707 $108,622 $18,076 $82,666 $58,364 $9,913 $28,890 $141,215 $171,251 $212,323 $248,776 $287,958 $310,444 $375,233 $383,221 $458,070 $438,812 $524,086 $544,975 $603,891 $712,331 $815,960 Ending Reserve Balance: Percent Funded: 40.99% 44.29% 48.50% 51.12% 54.21% 54.81% 63.86% 60.47% 72.27% 64.78% 80.73% 78.88% 87.78% % % Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $815,960 $856,689 $976,643 $1,030,211 $1,172,591 $42,182 $146,973 $278,098 $316,550 $289,000 $390,790 $483,006 $586,061 $650,212 $771,384 $124,440 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $137,580 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $8,482 $9,670 $10,200 $11,610 $418 $1,455 $2,753 $3,134 $2,861 $3,869 $4,782 $5,803 $6,438 $7,637 $7,181 $92,193 $27,296 $94,212 $6,810 $1,268,407 $34,244 $9,208 $102,262 $167,992 $39,660 $50,146 $40,328 $79,866 $24,046 $190,882 $856,689 $976,643 $1,030,211 $1,172,591 $42,182 $146,973 $278,098 $316,550 $289,000 $390,790 $483,006 $586,061 $650,212 $771,384 $725,263 Ending Reserve Balance: Percent Funded: % % % % 4.82% 64.40% 99.47% 95.99% 89.63% % % % % % % Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Criterium Engineers Page 2 of 21 8/17/2015

19 Reserve Study Worksheet - Alternative 2, Escalating Funding at 10% per Year *For the first 17 years of the study General Information: 1 Organization: Lowe's Farm Homeowners Association 2 Address: 1401 Parkside Drive Mansfield, TX Number of Homes 438 CURRENT FUNDING Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 4 Age of Development (in years) 13 Res. Fund Contrib. (First Year)... $2,705 $16,230 $6.18 $37.05 Years Out Total/Year Per Unit 5a Study Period (in years) 30 Res. Fund Contrib. (Remaining Years)... $2,705 $32,460 $6.18 $ b Normal Fiscal Year starts: January 1, c Partial Fiscal Year starts: July 1, d Partial Year Length: 6 months Final Balance Computed... ($1,600,376) 6 Site Inspection Date June 15, 2015 Average Capital Expenditure... $90,811 7 Reserve Funds at start $136,547 8 Rate of Return on invested Reserve Funds (%) 1.0% ALTERNATIVE 2 Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 9 Inflation Rate (%) 3.0% Monthly Amount, (First Year)... $2,705 $32,460 $6.18 $74.11 Years Out Total/Year Per Unit 10 Yearly Threshold $0 Monthly Amount, (Last Year)... $13,672 $164,069 $31.22 $ Annual Maintenance Budget $0 Balance Required Final Year... $90, Annual Maintenance Escalation Rate 0.0% Base Escalation % % 13 Target Funding Percentage 0.0% Final Balance Computed... $996,739 Average Capital Expenditure... $90,811 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $136,547 $141,215 $174,529 $209,247 $243,250 $271,050 $286,839 $336,873 $335,767 $394,548 $366,090 $436,529 $450,940 $499,395 $607,559 $16,230 $35,706 $39,277 $43,204 $47,525 $52,277 $57,505 $63,256 $69,581 $76,539 $84,193 $92,613 $101,874 $112,061 $123,267 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,398 $1,728 $2,072 $2,408 $2,684 $2,840 $3,335 $3,324 $3,906 $3,625 $4,322 $4,465 $4,945 $6,015 $7,019 $12,960 $4,120 $6,631 $11,610 $22,409 $39,328 $10,806 $67,686 $14,707 $108,622 $18,076 $82,666 $58,364 $9,913 $28,890 $141,215 $174,529 $209,247 $243,250 $271,050 $286,839 $336,873 $335,767 $394,548 $366,090 $436,529 $450,940 $499,395 $607,559 $708,956 Ending Reserve Balance: Percent Funded: 40.99% 45.14% 47.79% 49.98% 51.03% 50.64% 57.33% 52.98% 62.25% 54.05% 67.24% 65.27% 72.59% 86.13% 94.15% Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $708,956 $759,881 $890,556 $970,017 $1,138,549 $34,552 $166,021 $324,091 $389,756 $389,692 $519,242 $639,497 $770,870 $863,623 $1,013,683 $135,594 $149,154 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $164,069 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $7,524 $8,817 $9,604 $11,273 $342 $1,644 $3,209 $3,859 $3,858 $5,141 $6,332 $7,632 $8,551 $10,036 $9,869 $92,193 $27,296 $94,212 $6,810 $1,268,407 $34,244 $9,208 $102,262 $167,992 $39,660 $50,146 $40,328 $79,866 $24,046 $190,882 $759,881 $890,556 $970,017 $1,138,549 $34,552 $166,021 $324,091 $389,756 $389,692 $519,242 $639,497 $770,870 $863,623 $1,013,683 $996,739 Ending Reserve Balance: Percent Funded: 95.36% % % % 3.95% 72.75% % % % % % % % % % Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Criterium Engineers Page 3 of 21 8/17/2015

20 Reserve Study Worksheet - Alternative 3, Escalating Funding with Special Assessments General Information: 1 Organization: Lowe's Farm Homeowners Association 2 Address: 1401 Parkside Drive Mansfield, TX Number of Homes 438 CURRENT FUNDING Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 4 Age of Development (in years) 13 Res. Fund Contrib. (First Year)... $2,705 $16,230 $6.18 $37.05 Years Out Total/Year Per Unit 5a Study Period (in years) 30 Res. Fund Contrib. (Remaining Years)... $2,705 $32,460 $6.18 $ b Normal Fiscal Year starts: January 1, c Partial Fiscal Year starts: July 1, d Partial Year Length: 6 months Final Balance Computed... ($1,600,376) 6 Site Inspection Date June 15, 2015 Average Capital Expenditure... $90,811 7 Reserve Funds at start $136,547 8 Rate of Return on invested Reserve Funds (%) 1.0% ALTERNATIVE 3 Total/Month Total Annual Per Unit/Month Per Unit/Year Special Assessments 9 Inflation Rate (%) 3.0% Monthly Amount, (First Year)... $2,705 $32,460 $6.18 $74.11 Years Out Total/Year Per Unit 10 Yearly Threshold $0 Monthly Amount, (Last Year)... $2,705 $32,460 $6.18 $ ,250, , Annual Maintenance Budget $0 Balance Required Final Year... $90, , Annual Maintenance Escalation Rate 0.0% Base Escalation % % , Target Funding Percentage 0.0% Final Balance Computed... $112,139 Average Capital Expenditure... $90,811 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $136,547 $141,215 $171,251 $199,051 $222,100 $234,473 $229,881 $254,050 $221,013 $241,153 $166,641 $182,836 $133,956 $109,133 $132,997 $16,230 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,398 $1,696 $1,971 $2,199 $2,322 $2,276 $2,515 $2,188 $2,388 $1,650 $1,810 $1,326 $1,081 $1,317 $1,366 $12,960 $4,120 $6,631 $11,610 $22,409 $39,328 $10,806 $67,686 $14,707 $108,622 $18,076 $82,666 $58,364 $9,913 $28,890 $141,215 $171,251 $199,051 $222,100 $234,473 $229,881 $254,050 $221,013 $241,153 $166,641 $182,836 $133,956 $109,133 $132,997 $137,933 Ending Reserve Balance: Percent Funded: 40.99% 44.29% 45.47% 45.63% 44.14% 40.58% 43.23% 34.88% 38.05% 24.60% 28.16% 19.39% 15.86% 18.85% 18.32% Special Assessment Cost per Unit: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Fiscal Years: Normal: Jan Partial: Jul 2015 (6 months) Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: $137,933 $78,982 $84,988 $1,285,968 $1,324,735 $89,675 $88,771 $113,143 $43,774 $84,075 $77,644 $60,557 $53,216 $258,368 $269,450 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $32,460 $0 $0 $1,250,000 $0 $0 $0 $0 $0 $175,000 $0 $0 $0 $250,000 $0 $0 $782 $841 $12,732 $13,116 $888 $879 $1,120 $433 $832 $769 $600 $527 $2,558 $2,668 $1,110 $92,193 $27,296 $94,212 $6,810 $1,268,407 $34,244 $9,208 $102,262 $167,992 $39,660 $50,146 $40,328 $79,866 $24,046 $190,882 $78,982 $84,988 $1,285,968 $1,324,735 $89,675 $88,771 $113,143 $43,774 $84,075 $77,644 $60,557 $53,216 $258,368 $269,450 $112,139 Ending Reserve Balance: Percent Funded: 9.91% 10.61% % % 10.25% 38.90% 40.47% 13.27% 26.07% 24.31% 16.50% 12.83% 56.36% 55.94% 22.09% Special Assessment Cost per Unit: $0 $0 $2,854 $0 $0 $0 $0 $0 $400 $0 $0 $0 $571 $0 $0 Criterium Engineers Page 4 of 21 8/17/2015

21 Reserve Study Worksheet - Itemized Worksheet Percent Funded Capital Item Reserve Beginning Frequency Amount Remaining Reserve Funding Required To Be Replaced Quantity Unit cost Requirement (*) Balance (yrs**) Per Year Life (yrs) Monthly Annual Comments Site Accent Monuments Replacement 13 ea. $ $2, $ $ $32.53 $ Accent Pilasters 5 ea. $ $1, $ $ $16.36 $ Brick Fencing Repairs (Periodic) 5,200 lin. ft. $13.00 $67, $2, $6, $ $7, Performed '14 Brick Fencing Replacement 5,200 lin. ft. $ $624, $90, $20, $2, $28, Concrete Parking Lot - Seal Cracks 1 lot $4, $4, $ $ $84.40 $1, Invoice Concrete Parking Lot Repairs (Periodic) 1,010 sq. ft. $9.50 $9, ($760.62) 10 $ $71.91 $ % of total Concrete Walkway Repairs (Periodic) 450 sq. ft. $5.00 $2, $ $ $67.21 $ % of total (7) Entrance Monument Repairs 4 ea. $ $2, $ $ $26.73 $ Entry Lighting / Electrical Upgrade 1 lot $3, $3, $1, $ $0.00 $0.00 Flag Pole Replacement 1 ea. $2, $2, $ $ $10.13 $ Approved project Parking Area Luminaire Replacement 2 ea. $1, $2, $ $ $10.61 $ Stone Wall Repairs (Nom 2') 205 lin. ft. $6.00 $1, $ $ $12.22 $ Wood Fencing Replacement (Board-On-Board) 190 lin. ft. $32.00 $6, $1, $ $53.73 $ ' tall Wood Fencing Stain & Repair 190 lin. ft. $4.00 $ $ $ $0.00 $0.00 Wrought Iron Fencing - Clean/Prime/Paint (Periodic) 600 lin. ft. $7.50 $4, $ $ $75.00 $ Includes 3' fence at playground Wrought Iron Fencing - Preplacement 600 lin. ft. $55.00 $33, $4, $ $ $1, Building Exterior Door Replacement 3 ea. $ $1, $ $ $7.01 $84.15 Exterior Wood - Paint & Repair 1 lot $10, $10, $ $1, $ $1, Based on invoice Gutter and Downspout Replacement 260 lin. ft. $7.00 $1, $ $ $10.03 $ Lighting Fixture Replacement - Flood 7 ea. $ $1, $ $ $8.71 $ Lighting Fixture Replacement - Fluorescent 15 ea. $80.00 $1, $ $ $14.27 $ Roof Replacement - Standing Seam Metal 3,850 sq. ft. $5.00 $19, $2, $ $51.76 $ Wood Arbor Replacement 504 sq. ft. $15.00 $7, $1, $ $41.68 $ Wood Arbor / Pavilions - Stain 1 lot $5, $5, $ $1, $95.91 $1, Building Interior Restroom Fixture Replacement 1 lot $2, $2, $ $ $15.32 $ Includes shower Restroom Partition Replacement 3 ea. $ $2, $ $ $8.14 $97.64 Vinyl Wall Covering 1,100 sq.ft. $5.00 $5, $1, $ $49.62 $ Mechanical Card Reader Pool Gate Control Replacement 2 ea. $2, $4, $ $ $28.46 $ DSX Ceiling Fan Replacement 6 ea. $ $2, $ $ $23.80 $ Condition varies Drinking Fountain Replacement 2 ea. $ $ $ $ $10.06 $ Halsey Taylor Electrical Panel Replacement - Cabana 2 ea. $2, $4, $ $ $23.16 $ Electrical Panel Replacement - Site 2 ea. $1, $2, $ $ $28.55 $ Irrigation Controller Replacement 5 ea. $ $3, $ $ $49.82 $ Pool Filter Replacement 2 ea. $1, $3, $ $ $40.09 $ Triton II Commercial Pool Pump Replacement (2 HP) 1 ea. $1, $1, $ $ $18.77 $ Stealth Pool Pump Replacement (3.45 HP) 1 ea. $5, $5, $1, $ $ $1, Century Amenities BBQ Grill Replacement 1 ea. $1, $1, $ $ $4.67 $56.10 Decking Repairs - Kool Deck (Periodic) 6,880 sq. ft. $4.00 $27, $ $2, $ $2, Includes milling cracks, invoice Park Bench Replacement - Vinyl Coated Steel 5 ea. $ $2, $ $ $14.27 $ W/O back Picnic Table Replacement - Vinyl Coated Steel 2 ea. $ $1, $ $ $7.86 $94.35 Playground Equipment Replacement 1 lot $53, $53, $9, $1, $ $2, Playground Equipment/A.C. Concrete - Paint 1 lot $6, $6, $ $ $48.71 $ Invoice Playground Mulch Replacement 3,300 cu. ft. $1.50 $4, $1, $ $0.00 $0.00 Pool Coping/Tile Replacement 325 lin. ft. $25.00 $8, $1, $ $48.34 $ Pool Furniture Replacement 1 lot $10, $10, $1, $1, $ $1, Pool Re-Surface (Gunite) 4,000 sq. ft. $6.50 $26, $1, $3, $ $3, Re-Seal Coping to Decking Joint (Seal-O-Deck) 325 lin. ft. $5.00 $1, $ $ $40.67 $ Trash Receptacle Replacement - Metal 3 ea. $ $1, $ $ $12.73 $ Other Reserve Study Updates 1 ea. $2, $2, $ $ $52.08 $ Criterium Engineers Page 5 of 21 8/17/2015

22 Reserve Study Worksheet - Itemized Worksheet Percent Funded Capital Item Reserve Beginning Frequency Amount Remaining Reserve Funding Required To Be Replaced Quantity Unit cost Requirement (*) Balance (yrs**) Per Year Life (yrs) Monthly Annual Comments Contingency 1 ea. $4, $4, $1, $4, $0.00 $0.00 Total Over Term $1,599, * Costs are typically 10%± ** Reserve study is based on a 30 year projection of non-annual maintenance Totals $1,005, $136, $55, $5, $64, Criterium Engineers Page 6 of 21 8/17/2015

23 Reserve Study Worksheet - Itemized Graph Categories Totals Site $982,565 Building Exterior $96,080 Building Interior $15,850 Mechanical $68,250 Amenities $298,890 Other $137,500 Total $1,599,135 Reserve Study Worksheet - Itemized Graph Site Building Exterior Building Interior Mechanical Site, $982,565 Amenities Other Other, $137,500 Amenities, $298,890 Building Exterior, $96,080 Building Interior, $15,850 Mechanical, $68,250 Criterium Engineers Page 7 of 21 8/17/2015

24 Reserve Study Worksheet - Itemized Funding Monthly Annual Balance Reserve Reserve Reserve Beginning Requiring Funding Funding Categories Requirement Balance Funding Required Required Site $767,815 $103,319 $664,496 $3,508 $42,092 Building Exterior $48,680 $5,993 $42,687 $349 $4,192 Building Interior $10,350 $2,207 $8,143 $73 $877 Mechanical $27,350 $5,628 $21,722 $327 $3,926 Amenities $145,220 $17,815 $127,405 $1,043 $12,521 Other $6,500 $1,585 $4,915 $52 $625 Totals $1,005,915 $136,547 $869,368 $5,353 $64,233 Criterium Engineers Page 8 of 21 8/17/2015

25 Reserve Study Worksheet - Annual Expense By Year Year: Year Number: Site Accent Monuments Replacement , ,600 Accent Pilasters , Brick Fencing Repairs (Periodic) , Brick Fencing Replacement Concrete Parking Lot - Seal Cracks , , ,400 Concrete Parking Lot Repairs (Periodic) , Concrete Walkway Repairs (Periodic) 0 0 2, , Entrance Monument Repairs , Entry Lighting / Electrical Upgrade 3, Flag Pole Replacement Parking Area Luminaire Replacement Stone Wall Repairs (Nom 2') , Wood Fencing Replacement (Board-On-Board) , Wood Fencing Stain & Repair Wrought Iron Fencing - Clean/Prime/Paint (Periodic) , , Wrought Iron Fencing - Preplacement Building Exterior Door Replacement Exterior Wood - Paint & Repair , Gutter and Downspout Replacement , Lighting Fixture Replacement - Flood Lighting Fixture Replacement - Fluorescent , Roof Replacement - Standing Seam Metal Wood Arbor Replacement , Wood Arbor / Pavilions - Stain , , ,000 Building Interior Restroom Fixture Replacement , Restroom Partition Replacement Vinyl Wall Covering , Mechanical Card Reader Pool Gate Control Replacement , Ceiling Fan Replacement , Drinking Fountain Replacement Electrical Panel Replacement - Cabana , Electrical Panel Replacement - Site , Irrigation Controller Replacement , Pool Filter Replacement , Pool Pump Replacement (2 HP) , ,500 Pool Pump Replacement (3.45 HP) , , Amenities BBQ Grill Replacement Decking Repairs - Kool Deck (Periodic) , Park Bench Replacement - Vinyl Coated Steel ,750 0 Picnic Table Replacement - Vinyl Coated Steel ,600 Playground Equipment Replacement Playground Equipment/A.C. Concrete - Paint , Playground Mulch Replacement 4, , , Pool Coping/Tile Replacement , Pool Furniture Replacement , , Criterium Engineers Page 9 of 21 8/17/2015

26 Reserve Study Worksheet - Annual Expense By Year Year: Year Number: Pool Re-Surface (Gunite) , Re-Seal Coping to Decking Joint (Seal-O-Deck) , , , Trash Receptacle Replacement - Metal , Other Reserve Study Updates , , , Contingency 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Total Costs 12,960 4,000 6,250 10,625 19,910 33,925 9,050 55,035 11,610 83,250 13,450 59,720 40,935 6,750 19,100 Total Costs Adjusted For 3% Inflation 12,960 4,120 6,631 11,610 22,409 39,328 10,806 67,686 14, ,622 18,076 82,666 58,364 9,913 28,890 Criterium Engineers Page 10 of 21 8/17/2015

27 Reserve Study Worksheet - Annual Expense By Year Year: Year Number: Site Accent Monuments Replacement , Accent Pilasters , Brick Fencing Repairs (Periodic) , ,600 Brick Fencing Replacement , Concrete Parking Lot - Seal Cracks , , ,400 Concrete Parking Lot Repairs (Periodic) , Concrete Walkway Repairs (Periodic) 0 2, , Entrance Monument Repairs 2, , Entry Lighting / Electrical Upgrade Flag Pole Replacement , Parking Area Luminaire Replacement 0 2, Stone Wall Repairs (Nom 2') , Wood Fencing Replacement (Board-On-Board) , Wood Fencing Stain & Repair Wrought Iron Fencing - Clean/Prime/Paint (Periodic) 4, , , Wrought Iron Fencing - Preplacement , Building Exterior Door Replacement 1, Exterior Wood - Paint & Repair 10, , Gutter and Downspout Replacement Lighting Fixture Replacement - Flood 0 1, Lighting Fixture Replacement - Fluorescent , Roof Replacement - Standing Seam Metal , Wood Arbor Replacement Wood Arbor / Pavilions - Stain , , ,000 Building Interior Restroom Fixture Replacement Restroom Partition Replacement , Vinyl Wall Covering , Mechanical Card Reader Pool Gate Control Replacement , Ceiling Fan Replacement , Drinking Fountain Replacement Electrical Panel Replacement - Cabana Electrical Panel Replacement - Site , Irrigation Controller Replacement 0 3, ,250 0 Pool Filter Replacement 3, , Pool Pump Replacement (2 HP) , Pool Pump Replacement (3.45 HP) , , Amenities BBQ Grill Replacement 1, Decking Repairs - Kool Deck (Periodic) , Park Bench Replacement - Vinyl Coated Steel Picnic Table Replacement - Vinyl Coated Steel Playground Equipment Replacement , Playground Equipment/A.C. Concrete - Paint , Playground Mulch Replacement 4, , , Pool Coping/Tile Replacement Pool Furniture Replacement , , Criterium Engineers Page 11 of 21 8/17/2015

28 Reserve Study Worksheet - Annual Expense By Year Year: Year Number: Pool Re-Surface (Gunite) 26, , Re-Seal Coping to Decking Joint (Seal-O-Deck) 1, , , , Trash Receptacle Replacement - Metal , Other Reserve Study Updates 0 2, , , ,500 0 Contingency 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 Total Costs 59,175 17,010 57,000 4, ,355 18,960 4,950 53,370 85,120 19,510 23,950 18,700 35,955 10,510 81,000 Total Costs Adjusted For 3% Inflation 92,193 27,296 94,212 6,810 1,268,407 34,244 9, , ,992 39,660 50,146 40,328 79,866 24, ,882 Criterium Engineers Page 12 of 21 8/17/2015

29 Reserve Study Worksheet - Current Funding Levels Beginning Year Reserve Fund Fee Special Investment Total Capital Ending Year Number Balance Revenue Assessments Earnings Revenue Expenditures Balance $136,547 $16,230 $0 $1,398 $17,628 $12,960 $141, $141,215 $32,460 $0 $1,696 $34,156 $4,120 $171, $171,251 $32,460 $0 $1,971 $34,431 $6,631 $199, $199,051 $32,460 $0 $2,199 $34,659 $11,610 $222, $222,100 $32,460 $0 $2,322 $34,782 $22,409 $234, $234,472 $32,460 $0 $2,276 $34,736 $39,328 $229, $229,880 $32,460 $0 $2,515 $34,975 $10,806 $254, $254,049 $32,460 $0 $2,188 $34,648 $67,686 $221, $221,011 $32,460 $0 $2,388 $34,848 $14,707 $241, $241,152 $32,460 $0 $1,650 $34,110 $108,622 $166, $166,639 $32,460 $0 $1,810 $34,270 $18,076 $182, $182,834 $32,460 $0 $1,326 $33,786 $82,666 $133, $133,954 $32,460 $0 $1,081 $33,541 $58,364 $109, $109,131 $32,460 $0 $1,317 $33,777 $9,913 $132, $132,995 $32,460 $0 $1,366 $33,826 $28,890 $137, $137,930 $32,460 $0 $782 $33,242 $92,193 $78, $78,979 $32,460 $0 $841 $33,301 $27,296 $84, $84,985 $32,460 $0 $232 $32,692 $94,212 $23, $23,465 $32,460 $0 $491 $32,951 $6,810 $49, $49,606 $32,460 $0 $0 $32,460 $1,268,407 ($1,186,341) ($1,186,341) $32,460 $0 $0 $32,460 $34,244 ($1,188,125) ($1,188,125) $32,460 $0 $0 $32,460 $9,208 ($1,164,874) ($1,164,874) $32,460 $0 $0 $32,460 $102,262 ($1,234,676) ($1,234,676) $32,460 $0 $0 $32,460 $167,992 ($1,370,208) ($1,370,208) $32,460 $0 $0 $32,460 $39,660 ($1,377,408) ($1,377,408) $32,460 $0 $0 $32,460 $50,146 ($1,395,094) ($1,395,094) $32,460 $0 $0 $32,460 $40,328 ($1,402,962) ($1,402,962) $32,460 $0 $0 $32,460 $79,866 ($1,450,368) ($1,450,368) $32,460 $0 $0 $32,460 $24,046 ($1,441,954) ($1,441,954) $32,460 $0 $0 $32,460 $190,882 ($1,600,376) Criterium Engineers Page 13 of 21 8/17/2015

30 Reserve Study Worksheet - Current Funding Levels Beginning Balance as of start of year beginning Jan 2016: $136,547 CONTRIBUTIONS FIRST YR REM YRS $16, $32, per year $37.05 $74.11 per unit per year $2, $2, per month $6.18 $6.18 per unit per month Threshold: $0.00 Projected Annual Funding and Expenditures: Year: Year Number: End of Year Reserve Fund Balance 141, , , , , , , , , , , , , , ,930 Capital Expenditures: 12,960 4,120 6,631 11,610 22,409 39,328 10,806 67,686 14, ,622 18,076 82,666 58,364 9,913 28,890 Special Assessment Total Revenue (all sources) 17,628 34,156 34,431 34,659 34,782 34,736 34,975 34,648 34,848 34,110 34,270 33,786 33,541 33,777 33,826 Target Funding Requirement Year: Year Number: End of Year Reserve Fund Balance 78,979 84,985 23,465 49,606 (1,186,341) (1,188,125) (1,164,874) (1,234,676) (1,370,208) (1,377,408) (1,395,094) (1,402,962) (1,450,368) (1,441,954) (1,600,376) Capital Expenditures: 92,193 27,296 94,212 6,810 1,268,407 34,244 9, , ,992 39,660 50,146 40,328 79,866 24, ,882 Special Assessment Total Revenue (all sources) 33,242 33,301 32,692 32,951 32,460 32,460 32,460 32,460 32,460 32,460 32,460 32,460 32,460 32,460 32,460 Target Funding Requirement Reserve Study Worksheet - Current Funding Levels 260, ,682 6, (119,756) (246,476) (373,195) (499,914) (626,633) Dollars (753,352) (880,071) (1,006,790) (1,133,509) (1,260,229) (1,386,948) (1,513,667) (1,640,386) Funding Years Criterium Engineers Page 14 of 21 8/17/2015

31 Reserve Study Worksheet - Alternative 1, Level Funding with Steps Beginning Year Reserve Fund Fee Special Investment Total Capital Ending Year Number Balance Revenue Assessments Earnings Revenue Expenditures Balance $136,547 $16,230 $0 $1,398 $17,628 $12,960 $141, $141,215 $32,460 $0 $1,696 $34,156 $4,120 $171, $171,251 $45,600 $0 $2,102 $47,702 $6,631 $212, $212,323 $45,600 $0 $2,463 $48,063 $11,610 $248, $248,776 $58,740 $0 $2,851 $61,591 $22,409 $287, $287,958 $58,740 $0 $3,074 $61,814 $39,328 $310, $310,444 $71,880 $0 $3,715 $75,595 $10,806 $375, $375,233 $71,880 $0 $3,794 $75,674 $67,686 $383, $383,221 $85,020 $0 $4,535 $89,556 $14,707 $458, $458,070 $85,020 $0 $4,345 $89,365 $108,622 $438, $438,812 $98,160 $0 $5,189 $103,349 $18,076 $524, $524,086 $98,160 $0 $5,396 $103,556 $82,666 $544, $544,975 $111,300 $0 $5,979 $117,279 $58,364 $603, $603,891 $111,300 $0 $7,053 $118,353 $9,913 $712, $712,331 $124,440 $0 $8,079 $132,519 $28,890 $815, $815,960 $124,440 $0 $8,482 $132,922 $92,193 $856, $856,689 $137,580 $0 $9,670 $147,250 $27,296 $976, $976,643 $137,580 $0 $10,200 $147,780 $94,212 $1,030, $1,030,211 $137,580 $0 $11,610 $149,190 $6,810 $1,172, $1,172,591 $137,580 $0 $418 $137,998 $1,268,407 $42, $42,182 $137,580 $0 $1,455 $139,035 $34,244 $146, $146,973 $137,580 $0 $2,753 $140,334 $9,208 $278, $278,098 $137,580 $0 $3,134 $140,714 $102,262 $316, $316,550 $137,580 $0 $2,861 $140,442 $167,992 $289, $289,000 $137,580 $0 $3,869 $141,449 $39,660 $390, $390,790 $137,580 $0 $4,782 $142,362 $50,146 $483, $483,006 $137,580 $0 $5,803 $143,383 $40,328 $586, $586,061 $137,580 $0 $6,438 $144,018 $79,866 $650, $650,212 $137,580 $0 $7,637 $145,218 $24,046 $771, $771,384 $137,580 $0 $7,181 $144,761 $190,882 $725,263 Criterium Engineers Page 15 of 21 8/17/2015

32 Reserve Study Worksheet - Alternative 1, Level Funding with Steps Beginning Balance as of start of year beginning Jan 2016: $136,547 CONTRIBUTIONS SETTINGS (analyzed by unit/year) FIRST YR LAST YR Starting amount ($): $74.11 $32, $137, per year Increment by ($): $30.00 $74.11 $ per unit per year Every 2 year $2, $11, per month Frequency: 8 time $6.18 $26.18 per unit per month Threshold: $0.00 Projected Annual Funding and Expenditures: Year: Year Number: End of Year Reserve Fund Balance 141, , , , , , , , , , , , , , ,960 Capital Expenditures: 12,960 4,120 6,631 11,610 22,409 39,328 10,806 67,686 14, ,622 18,076 82,666 58,364 9,913 28,890 Special Assessment Total Revenue (all sources) 17,628 34,156 47,702 48,063 61,591 61,814 75,595 75,674 89,556 89, , , , , ,519 Target Funding Requirement Year: Year Number: End of Year Reserve Fund Balance 856, ,643 1,030,211 1,172,591 42, , , , , , , , , , ,263 Capital Expenditures: 92,193 27,296 94,212 6,810 1,268,407 34,244 9, , ,992 39,660 50,146 40,328 79,866 24, ,882 Special Assessment Total Revenue (all sources) 132, , , , , , , , , , , , , , ,761 Target Funding Requirement Reserve Study Worksheet - Alternative 1, Level Funding with Steps 1,201,907 1,124,522 1,047, , , , , ,210 Dollars 582, , , , , , ,512 41, Funding Years Criterium Engineers Page 16 of 21 8/17/2015

33 Reserve Study Worksheet - Alternative 2, Escalating Funding at 10% per Year Beginning Year Reserve Fund Fee Special Investment Total Capital Ending Year Number Balance Revenue Assessments Earnings Revenue Expenditures Balance $136,547 $16,230 $0 $1,398 $17,628 $12,960 $141, $141,215 $35,706 $0 $1,728 $37,434 $4,120 $174, $174,529 $39,277 $0 $2,072 $41,349 $6,631 $209, $209,247 $43,204 $0 $2,408 $45,613 $11,610 $243, $243,250 $47,525 $0 $2,684 $50,209 $22,409 $271, $271,050 $52,277 $0 $2,840 $55,117 $39,328 $286, $286,839 $57,505 $0 $3,335 $60,841 $10,806 $336, $336,873 $63,256 $0 $3,324 $66,580 $67,686 $335, $335,767 $69,581 $0 $3,906 $73,488 $14,707 $394, $394,548 $76,539 $0 $3,625 $80,164 $108,622 $366, $366,090 $84,193 $0 $4,322 $88,515 $18,076 $436, $436,529 $92,613 $0 $4,465 $97,077 $82,666 $450, $450,940 $101,874 $0 $4,945 $106,818 $58,364 $499, $499,395 $112,061 $0 $6,015 $118,077 $9,913 $607, $607,559 $123,267 $0 $7,019 $130,287 $28,890 $708, $708,956 $135,594 $0 $7,524 $143,118 $92,193 $759, $759,881 $149,154 $0 $8,817 $157,971 $27,296 $890, $890,556 $164,069 $0 $9,604 $173,673 $94,212 $970, $970,017 $164,069 $0 $11,273 $175,342 $6,810 $1,138, $1,138,549 $164,069 $0 $342 $164,411 $1,268,407 $34, $34,552 $164,069 $0 $1,644 $165,713 $34,244 $166, $166,021 $164,069 $0 $3,209 $167,278 $9,208 $324, $324,091 $164,069 $0 $3,859 $167,928 $102,262 $389, $389,756 $164,069 $0 $3,858 $167,927 $167,992 $389, $389,692 $164,069 $0 $5,141 $169,210 $39,660 $519, $519,242 $164,069 $0 $6,332 $170,401 $50,146 $639, $639,497 $164,069 $0 $7,632 $171,701 $40,328 $770, $770,870 $164,069 $0 $8,551 $172,620 $79,866 $863, $863,623 $164,069 $0 $10,036 $174,105 $24,046 $1,013, $1,013,683 $164,069 $0 $9,869 $173,938 $190,882 $996,739 Criterium Engineers Page 17 of 21 8/17/2015

34 Reserve Study Worksheet - Alternative 2, Escalating Funding at 10% per Year Beginning Balance as of start of year beginning Jan 2016: $136,547 CONTRIBUTIONS SETTINGS (analyzed by unit/year) FIRST YR LAST YR Starting amount ($): $74.11 $32, $164, per year Increment by (%): 10 $74.11 $ per unit per year Step (%): 0 $2, $13, per month Every 1 year $6.18 $31.22 per unit per month Frequency: 17 time Threshold: $0.00 Projected Annual Funding and Expenditures: Year: Year Number: End of Year Reserve Fund Balance 141, , , , , , , , , , , , , , ,956 Capital Expenditures: 12,960 4,120 6,631 11,610 22,409 39,328 10,806 67,686 14, ,622 18,076 82,666 58,364 9,913 28,890 Special Assessment Total Revenue (all sources) 17,628 37,434 41,349 45,613 50,209 55,117 60,841 66,580 73,488 80,164 88,515 97, , , ,287 Target Funding Requirement Year: Year Number: End of Year Reserve Fund Balance 759, , ,017 1,138,549 34, , , , , , , , ,623 1,013, ,739 Capital Expenditures: 92,193 27,296 94,212 6,810 1,268,407 34,244 9, , ,992 39,660 50,146 40,328 79,866 24, ,882 Special Assessment Total Revenue (all sources) 143, , , , , , , , , , , , , , ,938 Target Funding Requirement Reserve Study Worksheet - Alternative 2, Escalating Funding at 10% per Year 1,167,013 1,091,458 1,015, , , , , ,128 Dollars 562, , , , , , ,243 33, Funding Years Criterium Engineers Page 18 of 21 8/17/2015

35 Reserve Study Worksheet - Alternative 3, Escalating Funding with Special Assessments Beginning Year Reserve Fund Fee Special Investment Total Capital Ending Year Number Balance Revenue Assessments Earnings Revenue Expenditures Balance $136,547 $16,230 $0 $1,398 $17,628 $12,960 $141, $141,215 $32,460 $0 $1,696 $34,156 $4,120 $171, $171,251 $32,460 $0 $1,971 $34,431 $6,631 $199, $199,051 $32,460 $0 $2,199 $34,659 $11,610 $222, $222,100 $32,460 $0 $2,322 $34,782 $22,409 $234, $234,473 $32,460 $0 $2,276 $34,736 $39,328 $229, $229,881 $32,460 $0 $2,515 $34,976 $10,806 $254, $254,050 $32,460 $0 $2,188 $34,648 $67,686 $221, $221,013 $32,460 $0 $2,388 $34,848 $14,707 $241, $241,153 $32,460 $0 $1,650 $34,110 $108,622 $166, $166,641 $32,460 $0 $1,810 $34,270 $18,076 $182, $182,836 $32,460 $0 $1,326 $33,786 $82,666 $133, $133,956 $32,460 $0 $1,081 $33,541 $58,364 $109, $109,133 $32,460 $0 $1,317 $33,777 $9,913 $132, $132,997 $32,460 $0 $1,366 $33,826 $28,890 $137, $137,933 $32,460 $0 $782 $33,242 $92,193 $78, $78,982 $32,460 $0 $841 $33,302 $27,296 $84, $84,988 $32,460 $1,250,000 $12,732 $1,295,193 $94,212 $1,285, $1,285,968 $32,460 $0 $13,116 $45,576 $6,810 $1,324, $1,324,735 $32,460 $0 $888 $33,348 $1,268,407 $89, $89,675 $32,460 $0 $879 $33,339 $34,244 $88, $88,771 $32,460 $0 $1,120 $33,580 $9,208 $113, $113,143 $32,460 $0 $433 $32,894 $102,262 $43, $43,774 $32,460 $175,000 $832 $208,293 $167,992 $84, $84,075 $32,460 $0 $769 $33,229 $39,660 $77, $77,644 $32,460 $0 $600 $33,060 $50,146 $60, $60,557 $32,460 $0 $527 $32,987 $40,328 $53, $53,216 $32,460 $250,000 $2,558 $285,018 $79,866 $258, $258,368 $32,460 $0 $2,668 $35,128 $24,046 $269, $269,450 $32,460 $0 $1,110 $33,570 $190,882 $112,139 Criterium Engineers Page 19 of 21 8/17/2015

36 Reserve Study Worksheet - Alternative 3, Escalating Funding with Special Assessments Beginning Balance as of start of year beginning Jan 2016: $136,547 CONTRIBUTIONS SETTINGS (analyzed by unit/year) FIRST YR LAST YR Starting amount ($): $74.11 $32, $32, per year Increment by (%): 0 $74.11 $74.11 per unit per year Step (%): 0 $2, $2, per month Every 3 year $6.18 $6.18 per unit per month Frequency: 3 time Threshold: $0.00 Projected Annual Funding and Expenditures: Year: Year Number: End of Year Reserve Fund Balance 141, , , , , , , , , , , , , , ,933 Capital Expenditures: 12,960 4,120 6,631 11,610 22,409 39,328 10,806 67,686 14, ,622 18,076 82,666 58,364 9,913 28,890 Special Assessment Total Revenue (all sources) 17,628 34,156 34,431 34,659 34,782 34,736 34,976 34,648 34,848 34,110 34,270 33,786 33,541 33,777 33,826 Target Funding Requirement Year: Year Number: End of Year Reserve Fund Balance 78,982 84,988 1,285,968 1,324,735 89,675 88, ,143 43,774 84,075 77,644 60,557 53, , , ,139 Capital Expenditures: 92,193 27,296 94,212 6,810 1,268,407 34,244 9, , ,992 39,660 50,146 40,328 79,866 24, ,882 Special Assessment - - 1,250, , , Total Revenue (all sources) 33,242 33,302 1,295,193 45,576 33,348 33,339 33,580 32, ,293 33,229 33,060 32, ,018 35,128 33,570 Target Funding Requirement Reserve Study Worksheet - Alternative 3, Escalating Funding with Special Assessments 1,357,854 1,270,176 1,182,497 1,094,819 1,007, , , ,106 Dollars 656, , , , , , ,357 42, Funding Years Criterium Engineers Page 20 of 21 8/17/2015

37 Summary of Reserve Ending Balances Year Yearly Year Number Expenditures Current Alt. 1 Alt. 2 Alt $12,960 $141,215 $141,215 $141,215 $141, $4,120 $171,251 $171,251 $174,529 $171, $6,631 $199,051 $212,323 $209,247 $199, $11,610 $222,100 $248,776 $243,250 $222, $22,409 $234,472 $287,958 $271,050 $234, $39,328 $229,880 $310,444 $286,839 $229, $10,806 $254,049 $375,233 $336,873 $254, $67,686 $221,011 $383,221 $335,767 $221, $14,707 $241,152 $458,070 $394,548 $241, $108,622 $166,639 $438,812 $366,090 $166, $18,076 $182,834 $524,086 $436,529 $182, $82,666 $133,954 $544,975 $450,940 $133, $58,364 $109,131 $603,891 $499,395 $109, $9,913 $132,995 $712,331 $607,559 $132, $28,890 $137,930 $815,960 $708,956 $137, $92,193 $78,979 $856,689 $759,881 $78, $27,296 $84,985 $976,643 $890,556 $84, $94,212 $23,465 $1,030,211 $970,017 $1,285, $6,810 $49,606 $1,172,591 $1,138,549 $1,324, $1,268,407 ($1,186,341) $42,182 $34,552 $89, $34,244 ($1,188,125) $146,973 $166,021 $88, $9,208 ($1,164,874) $278,098 $324,091 $113, $102,262 ($1,234,676) $316,550 $389,756 $43, $167,992 ($1,370,208) $289,000 $389,692 $84, $39,660 ($1,377,408) $390,790 $519,242 $77, $50,146 ($1,395,094) $483,006 $639,497 $60, $40,328 ($1,402,962) $586,061 $770,870 $53, $79,866 ($1,450,368) $650,212 $863,623 $258, $24,046 ($1,441,954) $771,384 $1,013,683 $269, $190,882 ($1,600,376) $725,263 $996,739 $112,139 Summary of Reserve Ending Balances $1,357,854 $1,157,971 $958,089 $758,206 $558,323 $358,441 Dollars $158,558 ($41,325) 1 ($241,207) ($441,090) ($640,973) ($840,855) ($1,040,738) ($1,240,621) ($1,440,503) ($1,640,386) Funding Years Current Alt. 1 Alt. 2 Alt. 3 Criterium Engineers Page 21 of 21 8/17/2015

38 Appendix B: PROJECT PHOTOGRAPHS

39 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Entrance Monument Photo Number 1 Description: Pilaster and Lantern Photo Number 2

40 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Tower Photo Number 3 Description: Brick Perimeter Fence Photo Number 4

41 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Brick Perimeter Fence Photo Number 5 Description: Board-On-Board- Wood Fence Photo Number 6

42 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Parking Lot Photo Number 7 Description: Walkway Photo Number 8

43 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Parking Light Photo Number 9 Description: Cabana Exterior and Splash Pool Photo Number 10

44 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Cabana Framing and Roof Deck Photo Number 11 Description: Cabana Siding Photo Number 12

45 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Storage Building Photo Number 13 Description: Pool Pavilion Photo Number 14

46 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Restroom Photo Number 15 Description: Pool Equipment Photo Number 16

47 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Drinking Fountains Photo Number 17 Description: Pool and Deck Photo Number 18

48 Location: Photo Taken by: Date: Lowe s Farm Phillip Nieman, P.E. June 19, 2015 Mansfield, TX Description: Pool Furniture Photo Number 19 Description: Playground Photo Number 20