Downtown Doral Community Development District

www.downtowndoralcdd.com

Mike Levak – Chairman Jose Jimenez – Vice Chairman
Elizabeth Martinez – Assistant Secretary

February 23, 2026

Seat 4: Mike Levak – (C.)		
Seat 1: Jose Jimenez – (V.C.)		
Seat 5: Open Seat		
Seat 2: Elizabeth Martinez – (A.S.)		
Seat 3: Open Seat		

Downtown Doral
Community Development District
Revised Meeting Agenda

Monday	The Offices of CC Homes
February 23, 2026	2020 Salzedo St., 2nd Floor, Coral Gables, FL 33134 9:30 a.m.		Join the meeting now
Meeting ID: 275 840 667 897 6 and Passcode: 769Hd2i6
1 872-240-4685 and Phone Conference ID: 873 360 939#

Roll Call

Organizational Matters
Consideration of Appointment of Supervisor(s) to Unexpired Term(s) of Office for Seat #3 and Seat #5 (11/2026)

Oath of Office for Newly Appointed Supervisor(s) – Page 3

Election of Officer(s)

Approval of Minutes of the January 26, 2026 Meeting – Page 4

Consideration of Supplement to Investment Banking Agreement date April 22, 2024, regarding Bond Issuances by Downtown Doral Community Development District with MBS Capital Markets, LLC – Page 16

Staff Reports
Attorney

Engineer

Manager – Discussion of Maintenance and License Agreement (CDD Property) by and between CDD and Downtown Doral Community Association, Inc. – Page 21

Financial Reports
Approval of Check Run Summary – Page 36
Acceptance of Unaudited Financials – Page 38
Supervisors Requests and Audience Comments
Adjournment

Meetings are open to the public and may be continued to a time, date and place certain. For more information regarding this CDD please visit the website: http://www.downtowndoralcdd.com

Oath of Office

I, 	 a resident of the State of Florida and citizen of the United States of America, and being a Supervisor of the Downtown Doral Community Development District and a recipient of public funds on behalf of the District, do hereby solemnly swear or affirm that I will support the Constitution of the United States and of the State of Florida, and will faithfully, honestly and impartially discharge the duties devolving upon me in the office of Supervisor of the Downtown Doral Community Development District, 	County, Florida.
Signature 	 Home Address 	

County of Residence: 	 Telephone #: 	 E-mail: 	 Date: 	

Sworn	to	(or	affirmed)	before	me	this			day	of		,	by
	 whose signature appears hereinabove.

Notary Public State of Florida

Print Name

My Commission expires Personally known 	 or produced identification 	
Type of identification	

MINUTES OF MEETING DOWNTOWN DORAL
COMMUNITY DEVELOPMENT DISTRICT
The regular meeting of the Board of Supervisors of the Downtown Doral Community Development District was held on Monday, January 26, 2026, at 3:00 p.m. at 2020 Salzedo Street, 2nd Floor, Coral Gables, Florida 33134.

Present and constituting a quorum were:
Mike Levak	Chairman
Jose Jimenez	Assistant Secretary
Elizabeth Martinez	Assistant Secretary

Also present were:
Juliana Duque	District Manager
Michael Pawelczyk	District Counsel
Juan Alvarez	District Engineer (by phone)

FIRST ORDER OF BUSINESS	Roll Call
Ms. Duque called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Organizational Matters
Consideration of Appointment of Supervisor(s) to Unexpired Term(s) of Office for Seat #3 (11/2026) and Seat #5 (11/2026)
Oath of Office for Newly Appointed Supervisor(s)
Election of Officer(s)
Ms. Duque: The next item is the organizational matters, consideration of appointment of Supervisors to the unexpired term of office for seats #3 and #5. So, once again, we have two open seats, seat #3 and seat #5, both with unexpired terms, expiring in November 2026. So at this time, we’re seeking qualified residents. Once again, is there anyone interested in serving as a Supervisor, and if there is any direction from the Board or they wish to appoint anyone, this would be the appropriate time, unless the Board would like to table this item?
Mr. Jimenez: Motion to table

Ms. Duque: Thank you so much. I don’t need a motion, so thank you for that, Joe, so we’ll table this for the next meeting.

THIRD ORDER OF BUSINESS	Approval of the Minutes of the
June 23, 2025 Meeting
Ms. Duque: Let’s move forward to the approval of the minutes of the June 23, 2025, meeting. This is the moment to present any additions, corrections, or deletions to those; if there are none, we’ll move to approve those minutes by motion.

On MOTION by Mr. Jimenez, seconded by Mr. Levak, with all in favor, the Minutes of the June 23, 2025, Meeting were approved.

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution
#2026-01 Expanding Boundaries of District
Ms. Duque: Let’s move forward to the next item, which is the consideration of resolution #2026-01 expanding boundaries of the District. This resolution authorizes our District to expand its boundaries by approximately 18.82 acres. This expansion request comes from the adjacent landowner who wishes to annex to our District. Then, as the Board is aware, this expansion is beneficial; it allows the adjacent property to participate in our District’s infrastructure and also benefits from it. I don’t know if there are any comments or questions from the Board. If there is none, a motion to approve resolution #2026-01 will take place.
Mr. Jimenez: This is just to call it the Toll Brothers site, right? This does not include the future multi-family site. I’m sorry, do we have a map in the packet?
Ms. Duque: Yes, it is the Toll Bother’s site. Let me see if there’s a map. We also have Juan on the line in case he would like to provide additional information. You do have the description; it’s called The Koger Center, recorded plat.
Mr. Jimenez: Yes, Koger.
Mr. Alvarez: I don’t have a map, Juliana. Ms. Duque: Ok.
Mr. Jimenez: Alright.

Ms. Duque: I have Exhibit A, which contains the legal description.
Mr. Jimenez: No, but the 18 acres, I think that whole site around the half-mooned street, and south of 53rd Street to the property line is about 22 or 23 acres, so if it’s 18, it should only be that, and it doesn’t matter, we still have a long road.
Ms. Duque: Yes, we still have a long way down the road. Mr. Jimenez: Sí.
Mr. Pawelczyk: It is semi-private. I don’t know if it corresponds with the legal description.
Mr. Jimenez: Yes, and this is what I’m talking about, it’s not that, because that was going to be a multi-family.
Mr. Pawelczyk: Ok.
Mr. Jimenez: Ok, so that’s about right. Ms. Duque: Perfect.

On MOTION by Mr. Jimenez, seconded by Mr. Levak, with all in favor, Resolution #2026-01 expanding boundaries of the District was approved.

Mr. Pawelczyk: And could I just maybe suggest that we just verify that before? Mr. Jimenez: I know Ginger is doing it for them.
Mr. Pawelczyk: Yes, I know Ginger is working on it.
Mr. Jimenez: And we still have to take that, and full disclosure, I’m working on that. Mr. Pawelczyk: Ok, never mind then.
Mr. Jimenez: So, yes, I’m working on that development project but, now it has to go to the City of Doral and we will have it very clear, and there’s arguments to be made in the document that it was intended on being part of it, so there’s some exhibit in the creation of this CDD that are kind of contradictory to whether or not this was included. So, it's an abundance of caution just so that it’s very clear we’re starting the process again as though it wasn’t.
Mr. Pawelczyk: So you’re working on it, and you’ll see the petition.
Mr. Jimenez: Yes, I’ll see the petition, so I’ll probably present the petition to legal.

Mr. Pawelczyk: Ok, perfect, and you’re copied on everything from Ginger on that, and if not, I’ll ask her.
Mr. Jimenez: And just again, out of an abundance of caution just because we don’t have it here, approximately 18.4 what it takes to make this development a reality if you guys are ok with that, just so we don’t have to come back because I know they were very worried about getting a quorum for this meeting, so however you’re more comfortable.
Mr. Pawelczyk: Right, I think the resolution to adopt it in substantially final form would be fine, and then if we have to amend it, we can.
Mr. Jimenez: But in this case, the course of the development of 135 single-family homes and an amenity center, so whatever that is, since there’s no legal to this, just to clarify the intent of what we’re doing here, just in case.
Ms. Duque: Yes, sounds good. Thank you for that, Joe.

Discussion of Investment Banking Agreement Regarding Bond Issuances by Downtown Doral Community Development District with MBS Capital Markets, LLC
Ms. Duque: Let’s move forward to the discussion of the investment banking agreement regarding the bond issuance by Downtown Doral Community Development District with MBS Capital Markets, LLC. So, as the Board is aware, before we move forward with any expansion we want to formalize our banking relationship for potential bond issuances and we have already been working with MBS Capital Markets, LLC and today we are making the relationship official by ratifying and approving this current agreement, and they, as I just mentioned, will serve as our investment banker for any future bond offering needed to finance the infrastructure improvements. So, I just need a motion at this moment.

On MOTION by Mr. Levak, seconded by Mr. Jimenez, with all in favor, accepting the Banking Agreement regarding Bond Issuances by Downtown Doral CDD with MBS Capital Markets, LLC in substantial final form was approved.

FIFTH ORDER OF BUSINESS	Ratification of Engagement Letter
with Grau & Associates to perform

the Audit for Fiscal Year Ending September 30, 2025
Ms. Duque: Let’s move on to the next item, which is the ratification of the engagement letter with Grau & Associates to perform the audit for the fiscal year ending September 30, 2025. There are two actions here: ratification of the engagement and acceptance of the audit. The ratification is to approve Grau & Associates to conduct the FY 2025 audit, as outlined in the engagement letter dated August 14, 2025, which confirms the scope of services and audit objectives. A motion to ratify the engagement is now in order.

On MOTION by Mr. Jimenez, seconded by Mr. Levak, with all in favor, ratifying the engagement letter with Grau & Associates to perform the audit for the Fiscal Year ending September 30, 2025, was approved.

SIXTH ORDER OF BUSINESS	Acceptance	of	Audit	for	Fiscal
Year Ending September 30, 2025
Ms. Duque: And the next item is the acceptance of the audit for the fiscal year ending September 30, 2025. The Board is now being asked to accept the completed audit for that fiscal year, with the audit findings and financial statements detailed on pages 22 to 56 of your agenda package, which will serve as the District’s official acceptance of the fiscal year 2025 financial records. A motion to accept the audit is now in order.
Mr. Levak: Was it a clean opinion?
Ms. Duque: Yes, it was a clean audit, that is correct.

On MOTION by Mr. Levak, seconded by Mr. Jimenez, with all in favor, accepting the audit for the Fiscal Year ending September 30, 2025, was approved.

SEVENTH ORDER OF BUSINESS	Staff Reports
Ms. Duque: Let’s move to the next item, which is the attorney's memorandum 2025 legislative update.

Attorney – Memorandum, - 2025 Legislative Update

Mr. Pawelczyk: This is from way back in the last legislative session since we haven’t met, so I’m not going to go through it, unless you guys have any questions. You have it here if you want. I’ll leave you my copy. I don’t think there’s really anything in here that impacts what this CDD is going through or engages in. I will say that for this year’s legislative session, it’s very busy, Special District, local government side, so this summer’s legislative update will probably have some more substantive material in it that hopefully won’t impact the CDDs financially; we’ll see, except for the sovereign immunity thing, which I know Joe knows about. The sovereign immunity cap was supposed to be raised, and it’s looking like that’s going to happen, so that could affect your insurance going down the road, the cost of insurance, but that’s all I have.
Ms. Duque: Thank you, Mike.

Engineer
1) Discussion of:
a) Parking Enforcement with the City of Doral and Downtown Doral South CDD
Ms. Duque: Let’s move on to the next item, which is the Engineer’s Report. Under this report, we have two items, and I will begin with the first: parking enforcement with the City of Doral and the Downtown Doral South CDD. This matter is before this Board at the request of the Downtown Doral South CDD Board of Supervisors. The City of Doral has a residential parking permit program, administered by the Miami Parking Authority, and is proposing to apply those rules to certain spaces north of NW 51st Street due to ongoing issues affecting Downtown Doral South CDD. On City-owned streets, the City can proceed on its own; on CDD-owned streets, however, we would need to adopt our own parking rules and regulations. Since our District and Downtown Doral South CDD are represented by the same law firm, the intent is to follow their lead on the structure of those rules, if this Board is comfortable with that approach. Although this program does not directly affect our area as much as Downtown Doral South, it is important that we be prepared to adopt appropriate parking rules and regulations, including permit requirements that are expected to apply overnight from 6:00 p.m. to 6:00 a.m., as well as enforcement of expired tags and certain obstructions near the clubhouse, all at no cost to either District. If the Board agrees, the direction today would be to authorize District staff to continue coordinating with Downtown Doral South CDD and with Doral Public Works, as needed.

Mr. Jimenez: Do we get any revenue from tickets generated on CCD streets? Ms. Duque: I don’t know that answer.
Mr. Jimenez: The city gets revenue from city streets. Ms. Duque: They do?
Mr. Jimenez: Yes, and this is going to be the bigger feel by The Commons, which are all CDD streets.
Ms. Duque: We can certainly ask, but I honestly don’t know at this time because Downtown Doral South CDD did not bring that specific item to our attention.
Mr. Pawelczyk: But I think they’re trying to get some consistency because some of the roads are city and some of the roads are CDD and no one knows which those roads are except for us, and we don’t have any power, we can hire some company and tell them if they’re parking in the violation of the rules, the CDD could on CDD property but, we can’t fine them.
Mr. Jimenez: Right.
Ms. Duque: I think it’s a good question.
Mr. Jimenez: I mean, the city contracted with Miami Parking to do their enforcement, and then the revenue is split with Tate because Miami Parking already gives tickets if you park on the main street and you don’t pay. So, just like back here, is a residential permit street and the City of Coral Gables enforces it, so the city should be getting the money, which I don’t know how much and we’ll check it out, I don’t really care but, like parking in that area has been a problem for 1,000 years and the townhome association tried to claim that they own the streets and they started ticketing people about 9 years ago, and they said you couldn’t park on the street, and the city knows exactly whose streets those are.
Mr. Pawelczyk: Yes, I know the city does, I’m just saying, like the general public has no idea.
Mr. Jimenez: Oh no, there’s no legal distinction between them, because it would be Downtown Doral South and Downtown Doral on the legal, you don’t notice that you’re leaving one and getting into another.
Mr. Pawelczyk: But that’s a good question, and we can bring that back.

Mr. Jimenez: Because those private parking lots are all going to be around The Commons, those are all CDD streets.
Ms. Duque: Yes.
Mr. Jimenez: And I know one street, that street in front of the school, there’s no parking on that street, so it’s all when you get into the townhome community, and that’s going to be residential.
Ms. Duque: So, keep this one, Joe, and we’ll send this to Mike and also to Elizabeth.
Mr. Jimenez: But this is all Downtown Doral South. Ms. Duque: Yes, correct, NW 51st.
Mr. Jimenez: So, they are The Commons; those are all CDD streets, but whatever.
Mr. Pawelczyk:	Regardless, it’s going to come back to us for rulemaking and everything, so this is just can we move forward.
Mr. Jimenez: Right.
Ms. Duque: And it’s important.
Mr. Jimenez: It was just a question.
Ms. Duque: Okay, so do I have direction from the Board to reach out to District staff and coordinate with Downtown Doral South on this item? Perfect, thank you.

On MOTION by Mr. Levak, seconded by Mr. Jimenez, with all in favor, authorizing District staff to move forward with the parking enforcement with the City of Doral and Downtown Doral South CDD was approved.

Ms. Duque: And just so you know, Juan Alvarez and Alvarez Engineers also serve as the District Engineer for this District, and they have been very active throughout this process with Downtown Doral South as well.
Conveyances
Ms. Duque: Let’s move on to the conveyances item. Juan, is there anything you would like to address, or Mike, would you like to discuss the property conveyances or the transfer and acquisition of real property at this time?

Mr. Alvarez: Yes, as you probably know, there are still two pieces of land that need to be transferred to the CDD, one of them is the portion of Doral, which is known as tract B of Downtown Doral future, and what we’re missing in order to accomplish that are two things. One is the plans for the improvements within that tract, so that we can see what the CDD is going to be responsible for maintaining, and the plans would also tell us who else has improvements, what the utilities are, so that the CDD knows once this tract is conveyed to the CDD. Now, I just received an email from Codina, and he said that he sent me some plans, so I have to download them and see them, and perhaps what he sent me is what we need in terms of plans, so that’s one thing. The other thing in order to convey that tract, since the CDD is going to pay for the land with the monies that are available, we need to know how much the developer paid for that tract. In the past, when the CDD brought that from the developer, then we received two things: one was the real estate appraisal, and the second was an affidavit from the developer for how much they paid for the land. We know that the appraised value is going to be a lot higher than what has been paid because the land has appreciated. We’ve always received an appraisal, and what the developer paid is something that the developer already knows. I know that the developer paid about $740,000 for the land, which is 1 acre, or something like that, but those are the two things that we need, the plans and the determination of the purchase price from an engineering point of view. There may be some other things that have to do with legal, but I’m only giving you the aspects of engineering. Then secondly, the other thing that was intended to be conveyed to the CDD and remains to be done is a portion of that sliver on 82nd Avenue next to Sevilla which is being constructed right now, just each of Sevilla but that is under construction right now, so I guess when the developer completes Sevilla I guess the plans can conveyed to the CDD and then at that point in time then we can declare the CDD project completed, and it can be certified but, what is closest to be completed is the conveyance of tract B.
Mr. Pawelczyk: Correct.
Mr. Jimenez: Then tract B brings with it a maintenance agreement, which we talked about a few weeks ago.
Mr. Pawelczyk: Yes, we sent the last version, and we still need to know where all the art is; we need to know what maintenance is being provided out there.

Mr. Jimenez: And just so you guys know, Codina is willing to do the maintenance of landscaping and the furniture, all that stuff. What they want is, they’ll indemnify us but, they want to indemnify us to the limit of our liability.
Mr. Pawelczyk: Within the revised agreement that we distributed.
Mr. Jimenez: So right now we enjoy a sovereign immunity as a quasi-governmental entity, and that’s what Mike was talking about earlier is those caps might go up but, there are caps, you can only sue the CDD for “X” amount of money max, or the city or the county or whatever. So Codina wants to indemnify us to that, so we would still own it, so we would be the party, I think we would be the party getting sued, I mean they would sue Codina also.
Mr. Pawelczyk: They would just sue you as the maintenance provider, you being Codina.
Mr. Jimenez: Right.
Mr. Pawelczyk: As the one providing maintenance, or whoever the maintenance provider is.
Ms. Duque:  And that’s already included in the agreement, Mike already checked
that.
Mr. Jimenez: Right, I was just saying, we talked about it before, so I’m ok with it as
a Supervisor because it’s the limit that we have.
Mr. Pawelczyk: And I think on that maintenance agreement what we have to do now is to expand it beyond Pesao to include all the areas, so the question I sent back last week was, well, that’s fine and good but, is Codina going to maintain all those areas or are some of those areas maintained by other townhome associations, and I don’t know the answer to that question but, the problem is they can accept these properties and not provide for their maintenance because we don’t have any money to maintain them.
Mr. Jimenez: There’s a number of community associations which everyone belongs to, and that entity was provided, the thing is there are no common areas in Downtown Doral, everything in Downtown Doral is either owned by the CDD, the city, or a private owner, I mean there’s a pool inside the townhomes that’s owned by them but, that’s inside another property but, anything else, zero lot line.

Mr. Pawelczyk: Well, the CDD owns a number of parcels that required maintenance.
Mr. Jimenez: Like if you get a condo, the hallway is common area, the lobby is a common area, there’s no common areas in the Downtown Doral Community Association.
Mr. Pawelczyk: Well, the community association too needs someone to provide maintenance.
Mr. Jimenez: But I did speak to the city manager about this last week, about their part, because we’re on our fifth city manager in the last 2 ½ years, so that’s what has always held this agreement up when it was a 3-party agreement, so to make it simple we’ll go to a 2-pary agreement and then we’ll do another one to be able to finish and then we’ll do another with the city, we can do it with the city.
Mr. Pawelczyk: I think that’s the way I set it up was that the CDD basically is allowing the art to be on the CDD property, that’s it.
Mr. Jimenez: Got it.
Mr. Pawelczyk: And it’s maintained by a community association but the agreement is with the city, so that’s what it’s saying the art can be there in this location.
Ms. Duque: We’ll follow up on that, thank you. Juan, is there anything else you’d like to add?
Mr. Alvarez: No, that’s all I have. Ms. Duque: Thank you, Juan.

Manager – Final Approval of the FY2024-FY2025 Report Performance Measures and Standards
Ms. Duque: Let’s move on to the Manager’s Report, which is the final approval of the Fiscal Year 2024–2025 Performance Measures and Standards. This document established the benchmark for the District’s operational performance, so at this time, I need a motion to approve.

On MOTION by Mr. Jimenez, seconded by Mr. Levak, with all in favor, the final approval of the FY2024-FY2025 Report Performance Measures and Standards was approved.

EIGHTH ORDER OF BUSINESS	Financial Reports

Approval of Check Run Summary
Acceptance of Unaudited Financials
Ms. Duque: The next item is the financial reports, tab A, we will be approving the check run summary for the recent District expenditures, this represents all checks issued since our last meeting, and tab B is the acceptance of the unaudited financials and those financials are shown on page 78 to the end, and this is the current financials, so a motion to approve the financial reports will take place.

On MOTION by Mr. Levak, seconded by Mr. Jimenez, with all in favor, Check Run Summary, Balance Sheet, and Income Statement were approved.

NINTH ORDER OF BUSINESS	Supervisors'	Requests	and
Audience Comments
Ms. Duque:	Now, let’s move forward to the supervisor’s requests and audience comments. Are there any questions or comments from the Board?
Mr. Jimenez:	None.
Ms. Duque: Not hearing any, I would like to state that there is no public present today or audience present on the teleconference.
TENTH ORDER OF BUSINESS	Adjournment
Ms. Duque: A motion to adjourn will take place.

On MOTION by Mr. Jimenez, seconded by Mr. Levak, with all in favor, the meeting was adjourned.

Assistant Secretary /Secretary	Chairman / Vice Chairman

SUPPLEMENT TO INVESTMENT BANKING AGREEMENT DATED APRIL 22, 2014 REGARDING BOND ISSUANCES BY DOWNTOWN DORAL COMMUNITY DEVELOPMENT DISTRICT

March 23, 2026 Board of Supervisors
Downtown Doral Community Development District Dear Supervisors:
MBS Capital Markets, LLC (“Underwriter”) and the Board of Supervisors of the Downtown Doral Community Development District (“District”) entered into an Investment Banking Agreement effective April 22, 2014 (“Agreement”) wherein the District engaged the Underwriter to provide investment banking services for the District. The purpose of this letter is to supplement the Agreement by specifying the particular planned transaction currently being contemplated by the District for which such investment banking services are to be provided by the Underwriter.
This agreement relates to the proposed issuance of the District’s Series 2026 Bonds (the “Bonds”) for the purpose of refunding the District’s outstanding Series 2015 Bonds (the “Prior Bonds”). This Agreement will cover the engagement for the Bonds and will be supplemented for future bond issuances and may be applicable.
Scope of Services: MBS intends to serve as the underwriter or placement agent, and not as a financial advisor or municipal advisor, in connection with the issuance of the Bonds. The scope of services to be provided in a non-fiduciary capacity by the Underwriter for this transaction will include those listed below.

Advice regarding the structure, timing, terms, and other similar matters concerning the particular of municipal securities described above.
To introduce potential investors to the District who may purchase Bonds. In the case of unrated securities, these investors shall be “accredited investors” under the rules of the Florida Department of Banking and Finance;
Preparations for and assistance with investor “road shows,” if any, and investor discussions related to the issue being underwritten.
Advice regarding order periods and institutional marketing if the District decides to engage in a negotiated sale.

1902 S MacDill Avenue Tampa, Florida 33629
PHONE: 813.281.2700

152 Lincoln Avenue Winter Park, Florida 32789
PHONE: 407.622.0130

1005 Bradford Way
Kingston, Tennessee 37763
PHONE: 865.717.0303

Assistance in the preparation of the Preliminary Official Statement, if any, and the final Official Statement.
Assistance with the closing of the issue, including negotiation and discussion with respect to all documents, certificates, and opinions needed for the closing.
Coordination with respect to obtaining CUSIP numbers and the registration with the Depository Trust Company.
Assistance with negotiating the bond documents with selected institutions in the event that the District elects to privately-place Bonds.
Fees: The Underwriter will be responsible for its own out-of-pocket expenses other than the fees and disbursements of underwriter’s or disclosure counsel, which fees shall be paid from the proceeds of the Bonds. Any fees payable to the Underwriter will be contingent upon the successful sale and delivery or placement of the Bonds. The underwriting fee for the sale or placement of the Bonds will be the greater of $50,000 or 1.5% of the total par amount of Bonds issued. However, the District agrees that any costs incurred by the Underwriter to obtain an investment grade rating will be reimbursed to the Underwriter, whether or not the Bonds are issued.

All other terms of the Agreement shall remain in effect, including specifically the Disclosures Concerning the Underwriter’s Role Required by MSRB Rule G-17 which is again being provided in Exhibit A hereto. By execution of this supplement to the Agreement you are acknowledging receipt of the same.
This supplement to the Agreement shall be effective upon your acceptance and shall remain in effect until such time as the financing described herein has been completed or the Agreement is terminated as provided in Section 3 of the Agreement.

Sincerely,
MBS Capital Markets, LLC

Rhonda Mossing

Rhonda Mossing Managing Partner

Approved and Accepted By: 	
Title:		
Date:		

EXHIBIT A
Disclosures Concerning the Underwriter’s Role
Municipal Securities Rulemaking Board Rule G-17 requires an underwriter to deal fairly at all times with both municipal issuers and investors;
The Underwriter’s primary role is to purchase securities with a view to distribution in an arm’s-length commercial transaction with the District and it has financial and other interests that differ from those of the District;

Unlike a municipal advisor, the Underwriter does not have a fiduciary duty to the District under the federal securities laws and is, therefore, not required by federal law to act in the best interests of the District without regard to its own financial or other interests;

The Underwriter has a duty to purchase securities from the District at a fair and reasonable price, but must balance that duty with its duty to sell municipal securities to investors at prices that are fair and reasonable; and

The Underwriter will review the official statement for the District’s securities in accordance with, and as part of, its responsibilities to investors under the federal securities laws, as applied to the facts and circumstances of the transaction.

Disclosure Concerning the Underwriter’s Compensation

Underwriter’s compensation that is contingent on the closing of a transaction or the size of a transaction presents a conflict of interest, because it may cause the Underwriter to recommend a transaction that it is unnecessary or to recommend that the size of the transaction be larger than is necessary.

Conflicts of Interest

Payments to or from Third Parties. There are no undisclosed payments, values, or credits to be received by the Underwriter in connection with its underwriting of this new issue from parties other than the District, and there are no undisclosed payments to be made by the Underwriter in connection with this new issue to parties other than

the District (in either case including payments, values, or credits that relate directly or indirectly to collateral transactions integrally related to the issue being underwritten). In addition, there are no third-party arrangements for the marketing of the District’s securities.

Profit-Sharing with Investors. There are no arrangements between the Underwriter and an investor purchasing new issue securities from the Underwriter (including purchases that are contingent upon the delivery by the District to the Underwriter of the securities) according to which profits realized from the resale by such investor of the securities are directly or indirectly split or otherwise shared with the Underwriter.
Credit Default Swaps. There will be no issuance or purchase by the Underwriter of credit default swaps for which the reference is the District for which the Underwriter is serving as underwriter, or an obligation of that District.

Retail Order Periods. For new issues in which there is a retail order period, the Underwriter will honor such agreement to provide the retail order period. No allocation of securities in a manner that is inconsistent with a District’s requirements will be made without the District’s consent. In addition, when the Underwriter has agreed to underwrite a transaction with a retail order period, it will take reasonable measures to ensure that retail clients are bona fide.

Dealer Payments to District Personnel. Reimbursements, if any, made to personnel of the District will be made in compliance with MSRB Rule G-20, on gifts, gratuities, and non-cash compensation, and Rule G-17, in connection with certain payments made to, and expenses reimbursed for, District personnel during the municipal bond issuance process.

MAINTENANCE AND LICENSE AGREEMENT

(CDD PROPERTY)

THIS MAINTENANCE AND LICENSE AGREEMENT (the “Agreement”) is made and entered into this      day of 	, 2026 (the “Effective Date”), by and between:

DOWNTOWN DORAL COMMUNITY DEVELOPMENT DISTRICT, a
local unit of special purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Doral, Miami-Dade County, Florida, and whose mailing address is 5385 North Nob Hill Road, Sunrise, Florida 33351 (the "District"); and

DOWNTOWN DORAL COMMUNITY ASSOCIATION, INC., a Florida
not-for-profit corporation, whose address is 2020 Salzedo Street, 5th Floor, Coral Gables, Florida 33134 (the “Maintenance Entity”).

RECITALS

WHEREAS, the District is a local unit of special-purpose government established pursuant to and operating pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the District is the owner of or will soon be the owner of certain public parcels within the boundaries of the District as more particularly identified in Exhibit A, attached hereto and made a part hereof (collectively, the “CDD Property”), which CDD Property always been maintained by the Maintenance Entity; and

WHEREAS, the District, pursuant to the responsibilities and authorities vested in it by Chapter 190, Florida Statutes, desires to proceed with the discharge of certain maintenance duties with respect to the CDD Property, which maintenance duties and services are more particularly described in Exhibit B, attached hereto and made a part hereof (the “Maintenance Services”); and
WHEREAS, the Maintenance Entity has agreed to continue to provide the Maintenance Services to the CDD Property at the Maintenance Entity’s cost and expense and pursuant to the terms of this Agreement; and

WHEREAS, the District has consented to the placement of multiple pieces of public art (the “Public Art”) on the CDD Property by the Maintenance Entity at the locations and as more particularly described in Exhibit C, attached hereto and made a part hereof; and

WHEREAS, the Public Art is owned by the City of Doral (the “City” or the “Public Art Owner”); and

WHEREAS, the Maintenance Entity is required to maintain the Public Art, at Maintenance Entity’s expense, pursuant to third party agreements between the Public Art Owner and the Maintenance Entity; and

WHEREAS, the District desires to grant a license to the Maintenance Entity to enter onto the CDD Property to construct, install, repair, and maintain the Public Art and to provide the necessary Maintenance Services as required by this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and conditions herein expressed and the faithful performance of the same, the parties mutually agree as follows:

SECTION 1. RECITALS AND FINDINGS

The recitals and findings set forth above are hereby adopted by reference and incorporated herein as if fully set forth in this section.

SECTION 2. TERM; TERMINATION

Unless terminated as provided herein, this Agreement shall be effective upon the approval of the District Board of Supervisors and shall continue until September 30, 2031, and thereafter the Agreement shall be automatically renewable from year to year for renewal terms of one (1) year unless otherwise terminated pursuant to Section 2.02 of this Agreement. This Agreement shall only be effective as to CDD Property owned fee simple by the District.

This Agreement may be terminated upon the mutual written agreement of the District and the Maintenance Entity, by the Maintenance Entity upon written notice to the District no less than ninety (90) days prior to the expiration of the then-current term that the Maintenance Entity intends not to renew for an additional term, by the District at any time for any reason in its sole discretion by providing at least thirty (30) days written notice to the Maintenance Entity of its intent to terminate this Agreement pursuant to this provision, or by either party for cause pursuant to Section 6 of this Agreement. Notwithstanding any termination of or expiration of any term of this Agreement, the Maintenance Entity shall remain fully responsible for the maintenance and repair of the Public Art, unless such obligation with the City is assigned to the District with the District’s written consent.
SECTION 3. PUBLIC ART LICENSE, PERMITTED USES, AND MAINTENANCE

District does hereby grant a license to Maintenance Entity to enter upon the CDD Property for the purposes of (1) installing, repairing, replacing, and maintaining the Public Art and (2) providing the ongoing Maintenance Services on a regular and routine basis and as needed.

District and Maintenance Entity agree that the final approval of the design, placement and type of construction of the CDD Property shall be in the sole discretion of the District. The design, placement and type of Public Art, in place as of the Effective Date of this Agreement, is hereby approved by the District.. Maintenance Entity acknowledges that it does not have a right to grant a lien on the CDD Property. The Maintenance Entity further agrees that the District has no responsibility whatsoever with respect to the Public Art.

Prior to commencement of any installation of Public Art, the Maintenance Entity must obtain the required permits from the City’s Development Services Department and applicable approvals from the District.

All improvements and facilities installed, constructed or placed in the CDD Property shall be owned by the District, with the exception of the Public Art, whose ownership shall be with the Public Art Owner. Any improvements, facilities, or other items appurtenant to the CDD Property that have not been conveyed to the District shall be conveyed by the Maintenance Entity to the District using forms of conveyance acceptable to the District Counsel of the District.

Should this Agreement be terminated for any reason, the Maintenance Entity hereby acknowledges that should the District be required to maintain, repair or complete any work with respect to the Public Art, the Maintenance Entity shall be solely responsible for all costs and expenses associated therewith.

Maintenance Entity acknowledges and agrees that, Maintenance Entity is fully responsible for all costs and expenses associated with the provision of Maintenance Services, as defined herein, and further agrees to be fully responsible for any and all costs and expenses related to the installation, repair, or maintenance of the Public Art.

Except as designated in this Agreement, Maintenance Entity shall not make any alterations, additions or improvements to the CDD Property without the prior written consent of District. Nothing herein shall be construed or interpreted to grant any right or permission to the Maintenance Entity to change any the landscaping or make any improvements in the CDD Property except with respect to the removal and replacement of dead or dying landscaping material with similar material or with respect to the removal and replacement of inoperable or broken facilities in accordance with the provision of the Maintenance Services.

The Maintenance Services shall be provided by the Maintenance Entity in a competent and professional manner using qualified and experienced employees or contractors with such frequency as is necessary and reasonable in the industry and under the circumstances in order to ensure that the CDD Property are properly maintained and continue to function with their intended purpose. The Maintenance Services shall be provided by the Maintenance Entity in strict compliance with all governmental entities’ and agencies’ permits, requirements, rules, acts, statutes, ordinances, orders, regulations and restrictions.

The Maintenance Services shall be provided by the Maintenance Entity without interfering in any way with or encumbering the use, access, ingress, egress, easement, right-of-way, dedication, ownership or other right or interest of the District in the CDD Property or the District improvements and facilities located in, on, over, under, or within the CDD Property.

The Maintenance Entity shall timely pay all invoices, or other manner of billing, for all persons or entities with whom the Maintenance Entity may have contracted or arranged to provide Maintenance Services or materials in fulfillment of its obligations under this Agreement.

The District and the Maintenance Entity agree that the Maintenance Services herein assumed by the Maintenance Entity shall not include by way of example the repair or replacement of the District improvements or property within the CDD Property that are damaged as a result of an act of God, including, but not limited to, hurricanes, tornados, windstorms, freeze damage, fire, drought or flooding. In such instances, the Maintenance Entity is not responsible for the repair and replacement of such improvements. The Public Art shall not be replaced by the District or be the responsibility to be replaced by the District, unless said Public Art has been conveyed to and accepted by the District in writing. The Maintenance Entity shall be fully responsible for all costs and expenses associated with the Public Art, as the District has merely granted a license authorizing the Public Art to be displayed on the District-owned CDD Property.

In the event of an emergency, as determined by the District in its reasonable sole discretion, and regardless of any language in this Agreement to the contrary or any language in any contract or arrangement that the Maintenance Entity may have with third parties concerning the Maintenance Services for the CDD Property, or any portion thereof, the District reserves the unilateral and exclusive right to implement or initiate, without advance notice, (a) the provision of Maintenance Services or materials to all or a portion of the CDD Property, and (b) the removal, modification, relocation, or replacement, as the case may be, and in the District’s sole discretion, of one or more of the improvements or facilities within the CDD Property.

SECTION 4.	INDEMNIFICATION

Maintenance Entity agrees to indemnify and hold harmless District and all its officers, elected or otherwise, agents, and employees from any loss, damage, or injury to persons or property arising out of Maintenance Entity’s negligence or Maintenance Entity’s failure to comply with all the terms and conditions of this Agreement. This indemnification is limited to the liability limits set forth in Section 768.28, Florida Statutes, as permitted by Florida law. If a claim is litigated and names District as a party defendant, District shall be held harmless as to all costs and expenses associated with the litigation related to that claim, including but not limited to, costs, attorneys’ fees, paralegal expenses, attorneys’ fees on appeal, monies paid in settlement or monies paid to satisfy any judgment obtained herein. Nothing herein shall be construed to extend the limits of liability applicable to the District, as provided in Section 768.28, Florida Statutes.

SECTION 5.	INSURANCE

The parties shall each individually maintain throughout the term of this Agreement any and all applicable insurance coverage required by Florida law.

THE CONTRACTOR(S) HIRED BY THE MAINTENANCE ENTITY TO MAKE IMPROVEMENTS OR PROVIDE THE MAINTENANCE SERVICES DETAILED IN THIS AGREEMENT AND ANY OTHER PROJECT APPROVED BY THE DISTRICT IN ACCORDANCE WITH THIS AGREEMENT, PRIOR TO ANY INSTALLATION, CONSTRUCTION, AND/OR MAINTENANCE SERVICES ACTIVITY BEING UNDERTAKEN, MAINTENANCE ENTITY, IF MAINTENANCE ENTITY IS THE MAINTAINING ENTITY, OR CONTRACTOR, AS THE CASE MAY BE, SHALL SUBMIT TO THE DSITRICT COPIES OF ITS REQUIRED COVERAGES AND

SPECIFICALLY PROVIDING THAT THE DOWNTOWN DORAL COMMUNITY DEVELOPMENT DISTRICT (DEFINED TO MEAN THE DISTRICT, ITS OFFICERS, AGENTS, EMPLOYEES, VOLUNTEERS AND REPRESENTATIVES) IS AN ADDITIONAL INSURED OR ADDITIONAL NAMED INSURED WITH RESPECT TO THE REQUIRED COVERAGES AND THE OPERATIONS OF CONTRACTOR.

In the event the insurance certificate provided indicates that the insurance shall terminate and lapse during the period of this Agreement, then, in that event, the contractor shall furnish, at least thirty
(30) calendar days prior to expiration of the date of such insurance, a renewed certificate of insurance as proof that equal and like coverage for the balance of that period of the contract and extension there under is in effect. Maintenance Entity and the contractor shall not continue to provide the Maintenance Services required by this Agreement unless all required insurance remains in full force and effect.

Maintenance Entity shall require the contractor retained or engaged by the Maintenance Entity to procure and maintain at its own expense and keep in effect during the full term of the Agreement a policy or policies of insurance which must include the following coverages and minimum limits of liability:

Worker’s Compensation Insurance for statutory obligations imposed by Worker’s Compensation or Occupational Disease Laws, including, where applicable, the United States Longshoreman’s and Harbor Worker’s Act, the Federal Employers’ Liability Act and the Jones Act. Employer’s Liability Insurance shall be provided with a minimum of two hundred thousand and xx/100 dollars ($200,000.00) per accident. The contractor shall agree to be responsible for the employment, conduct and control of its employees and for any injury sustained by such employees in the course of their employment.

Comprehensive General Liability (occurrence form), with the following minimum limits of liability, with no restrictive endorsements:

$1,000,000 Combined Single Limit, per occurrence, Bodily Injury & Property Damage Coverage shall specifically include the following with minimum limits not less than those required for Bodily Injury Liability and Property Damage Liability:
Premises and Operations;
Independent Contractors;
Product and Completed Operations Liability;
Broad Form Property Damage; and
Broad Form Contractual Coverage applicable to the Agreement and specifically insuring the indemnification and hold harmless agreement provided herein.

District does not in any way represent that the types and amounts of insurance required hereunder are sufficient or adequate to protect Maintenance Entity’s or Contractor’s interest or liabilities, but are merely minimum requirements established by the District. District reserves the

right to reasonably require other insurance coverages that District deems necessary depending upon the risk of loss and exposure to liability.

Insurance companies selected must be acceptable to District. All of the policies of insurance so required to be purchased and maintained shall contain a provision or endorsement that the coverage afforded shall not be canceled, materially changed or renewal refused until at least thirty (30) calendar days written notice has been given to District by certified mail.

The required insurance coverage shall be issued by an insurance company authorized and licensed to do business in the state of Florida, with a minimum rating of B+ to A+, in accordance with the latest edition of A.M. Best’s Insurance Guide.

All required insurance policies shall preclude any underwriter’s rights of recovery or subrogation against District with the express intention of the parties being that the required insurance coverage protects both parties as the primary coverage for any and all losses covered by the above-described insurance.

Any contractor retained by the Maintenance Entity to perform work at the subject property shall ensure that any company issuing insurance to cover the requirements contained in this Agreement agrees that they shall have no recourse against the District for payment or assessments in any form on any policy of insurance.

The clauses, “Other Insurance Provisions” and “Insured Duties in the Event of an Occurrence, Claim or Suit” as it appears in any policy of insurance in which the City is named as an additional insured shall not be applicable to City. City shall provide written notice of occurrence within fifteen (15) working days of City’s actual notice of such an event.

5.10 Violation of the terms of this Section and its sub-parts shall constitute a breach of the Agreement, and City, in its sole discretion, may cancel the Agreement, and all rights, title and interest of the District in this Agreement shall thereupon cease and terminate.

SECTION 6.	DEFAULT
The failure of Maintenance Entity to observe or perform any of the covenants, conditions or provisions of this Agreement shall constitute a material breach of this Agreement by Maintenance Entity where such failure continues for a period of thirty (30) calendar days after written notice thereof from District to Maintenance Entity, provided however, that if the nature of Maintenance Entity’s default is such that more than thirty (30) calendar days are reasonably required for its cure, Maintenance Entity shall not be deemed to be in default if Maintenance Entity commences such cure within said thirty (30) calendar day period and thereafter diligently pursues such cure to completion.

In the event of any default or breach by Maintenance Entity, District may at any time thereafter, without notice or demand and without limiting District in the exercise of any right or remedy which District may have by reason of such default or breach terminate Maintenance Entity’s right to use and possession of the CDD Property by any lawful means and retake

possession thereof in which event all further liability under the Agreement on the part of the District shall terminate.

Except for emergency situations (as so reasonably determined by the District), before the District may initiate legal action for the Maintenance Entity’s failure to perform or default under this Agreement, the District shall provide advance written notice to the Maintenance Entity of the nature of the alleged failure or default and afford a minimum of a ten (10) calendar day cure period, and the Maintenance Entity, shall have ten (10) calendar days following the date of receipt of said notice to cure the alleged failure or default through appropriate and substantive remedial action.

SECTION 7.	SOVEREIGN IMMUNITY

The Maintenance Entity agrees that nothing in this Agreement shall constitute or be construed as a waiver of the privileges, immunities, and limitations on liability afforded the District pursuant to the doctrine of sovereign immunity, Section 768.28, Florida Statutes, or other statutes or law.

SECTION 8.	SEVERABILITY

Should any part, term, or provision of this Agreement be by the courts decided to be illegal or in conflict with any law of the State, the validity of the remaining portions or provisions shall not be affected thereby.

SECTION 9.	ASSIGNMENT

Maintenance Entity shall not assign, transfer, sublet or subject this Agreement or its rights, title, or interest thereupon without District’s advance written approval.

SECTION 10.	GOVERNING LAW AND VENUE

The validity, construction, and effect of this Agreement shall be governed by the laws of the State of Florida. Any claim, objection, or dispute arising out of the terms of this Agreement shall be litigated in the Eleventh Judicial Circuit in and for Miami-Dade County, Florida.

SECTION 11.	CONSTRUCTION OF AGREEMENT

The terms and conditions herein are to be construed with their common meaning to effectuate the intent of this Agreement. All words used in the singular form shall extend to and include the plural and all words in the plural form shall extend to and include the singular. All words in any gender shall extend to and include all genders.

SECTION 12.	ENTIRE AGREEMENT, NO ORAL MODIFICATION

This Agreement represents the entire and integrated agreement between District and the Maintenance Entity and supersedes all prior negotiations, representations or agreements, either

written or verbal. This Agreement may only be amended by written instruments signed by both District through its Board of Supervisors, and the Maintenance Entity through its authorized signatories and may include other services only if directly related to the intent and scope of this Agreement. The failure of a party to insist on strict performance of any terms of this Agreement shall not be construed as a waiver and relinquishment for the future of any term, condition or election but the same shall remain in full force and effect.

SECTION 13.	E-VERIFY

The Maintenance Entity, on behalf of itself and its subcontractors, hereby warrants compliance with all federal immigration laws and regulations applicable to their employees. The Maintenance Entity further agrees that the District is a public employer subject to the E-Verify requirements provided in Section 448.095, Florida Statutes, and such provisions of said statute are applicable to this Agreement, including, but not limited to registration with and use of the E-Verify system. The Maintenance Entity agrees to utilize the E-Verify system to verify work authorization status of all newly hired employees. Maintenance Entity shall provide sufficient evidence that it is registered with the E-Verify system before commencement of performance under this Agreement. If the District has a good faith belief that the Maintenance Entity is in violation of Section 448.09(1), Florida Statutes, or has knowingly hired, recruited, or referred an alien that is not duly authorized to work by the federal immigration laws or the Attorney General of the United States for employment under this Agreement, the District shall terminate this Agreement. The Maintenance Entity shall require an affidavit from each subcontractor providing that the subcontractor does not employ, contract with, or subcontract with an unauthorized alien. The Maintenance Entity shall retain a copy of each such affidavit for the term of this Agreement and all renewals thereof. If the District has a good faith belief that a subcontractor of the Maintenance Entity is in violation of Section 448.09(1), Florida Statutes, or is performing work under this Agreement has knowingly hired, recruited, or referred an alien that is not duly authorized to work by the federal immigration laws or the Attorney General of the United States for employment under this Agreement, the District promptly notify the Maintenance Entity and order the Maintenance Entity to immediately terminate its subcontract with the subcontractor. The Maintenance Entity shall be liable for any additional costs incurred by the District as a result of the termination of any contract, including this Agreement, based on Maintenance Entity’s failure to comply with the E-Verify requirements referenced in this subsection.
SECTION 14.	NOTICES
All notices or other communications required by this Agreement shall be in writing and deemed delivered upon mailing by certified mail, return receipt requested, to the following persons and addresses unless otherwise specified herein:

District:	Downtown Doral Community Development District 5385 N. Nob Hill Road
Sunrise, Florida 33351 Attn.: District Manager

Copy to:	Billing Cochran, P.A.
515 East Las Olas Boulevard. Suite 600 Fort Lauderdale, Florida 33301
Attn: Michael J. Pawelczyk, Esq.

Association:	Downtown Doral Community Association, Inc.
2020 Salzedo Street, 5th Floor Coral Gables, Florida 33134 Attn: President

Except as otherwise provided in this Agreement, any Notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 p.m. (at the place of delivery) or on a non-business day shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth in this Agreement.

SECTION 15.	PUBLIC RECORDS

Maintenance Entity shall, pursuant to and in accordance with Section 119.0701, Florida Statutes, comply with the public records laws of the State of Florida, and specifically shall:

Keep and maintain public records required by the District to perform the services or work set forth in this Agreement; and

Upon the request of the District’s custodian of public records, provide the District with a copy of the requested records or allow the records to be inspected or copied within a reasonable time at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law; and

Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law for the duration of the contract term and following completion of the Agreement if the Maintenance Entity does not transfer the records to the District; and

Upon completion of the Agreement, transfer, at no cost to the District, all public records in possession of the Maintenance Entity or keep and maintain public records required by the District to perform the service or work provided for in this Agreement. If the Maintenance Entity transfers all public records to the District upon completion of the Agreement, the Maintenance Entity shall destroy any duplicate public records that are

exempt or confidential and exempt from public disclosure requirements. If the Maintenance Entity keeps and maintains public records upon completion of the Agreement, the Maintenance Entity shall meet all applicable requirements for retaining public records. All records stored electronically must be provided to the District, upon request from the District’s custodian of public records, in a format that is compatible with the information technology systems of the District.

Maintenance Entity acknowledges that any requests to inspect or copy public records relating to this Agreement must be made directly to the District pursuant to Section 119.0701(3), Florida Statutes. If notified by the District of a public records request for records not in the possession of the District but in possession of the Maintenance Entity, the Maintenance Entity shall provide such records to the District or allow the records to be inspected or copied within a reasonable time. Maintenance Entity acknowledges that should Maintenance Entity fail to provide the public records to the District within a reasonable time, Maintenance Entity may be subject to penalties pursuant to Section 119.10, Florida Statutes.

15.03. IF THE MAINTENANCE ENTITY HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE MAINTENANCE ENTITY’S DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS AGREEMENT/CONTRACT, THE MAINTENANCE ENTITY MAY CONTACT THE CUSTODIAN OF PUBLIC RECORDS FOR THE DISTRICT AT:
GOVERNMENTAL MANAGEMENT SERVICES-SOUTH FLORIDA, LLC
5385 N. NOB HILL ROAD SUNRISE, FLORIDA, 33351
TELEPHONE: (954) 721-8681 EMAIL: INFO@GMSSF.COM
15.04 If the Maintenance Entity does not comply with a public records request, such failure to comply shall be considered a default under the terms of this Agreement and applicable law, and the District shall enforce the Agreement accordingly.

SECTION 16.	LICENSE NOT A LEASE
This Agreement shall not be deemed a lease of the facilities by the District but rather a license granted to District by the Maintenance Entity to use and occupy the premises under the terms and conditions stated herein.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN	WITNESS	WHEREOF,	the	DOWNTOWN	DORAL	COMMUNITY DEVELOPMENT DISTRICT and DOWNTOWN DORAL COMMUNITY ASSOCIATION,
INC. have caused these presents to be executed in their respective names, by the proper officials, the day and year first above written.

Attest:

DOWNTOWN    DORAL    COMMUNITY
DEVELOPMENT DISTRICT, a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes

By:	

Print Name: 		Print Name: 	 Secretary/Assistant Secretary		Chairperson/Vice-Chairperson

	 day of 	, 2026

DOWNTOWN	DORAL	COMMUNITY
ASSOCIATION, INC., a Florida not-for-profit corporation

By: 	

Print Name

Print: 	 Title: 	

	 day of 	, 2026

Print Name (CORPORATE SEAL)

Exhibit A

CDD Property

PARCEL DESCRIPTION	

FOLIO NO.	
Tract A of DOWNTOWN DORAL MXD, as recorded in Plat Book 171, Page 35 in the Public Records of Miami-Dade County, Florida (Phase 2B Paseo Roadways, Drainage, Lighting, Landscape, Irrigation and Hardscape in Paseo Doral)	35-3022-036-0180	
Tract B of DOWNTOWN DORAL MXD, as recorded in Plat Book 171, Page 35 in the Public Records of Miami-Dade County, Florida (Phase 2B Paseo Roadways, Drainage, Lighting, Landscape, Irrigation and Hardscape in Paseo Doral)	35-3022-036-0190	
Tracts G and H of DOWNTOWN DORAL MXD, as recorded in Plat Book 171, Page 35 in the Public Records of Miami-Dade County, Florida (Entry Features at NW 87 Avenue and NW 53rd Street)		
Tract G of DOWNTOWN DORAL MXD, as recorded in Plat Book 171, Page 35 in the Public Records of Miami-Dade County, Florida	35-3022-036-0240	
Tract B of DOWNTOWN DUTCHER, as recorded in Plat Book 170, Page 70 in the Public Records of Miami-Dade County, Florida	35-3022-035-0890	
Tract E of DOWNTOWN DUTCHER, as recorded in Plat Book 170, Page 70 in the Public Records of Miami-Dade County, Florida (Phase 2A Townhomes Roadways, Drainage, Lighting, Landscape and Irrigation)	35-3022-035-0920	
Tract F of DOWNTOWN DUTCHER, as recorded in Plat Book 170, Page 70 in the Public Records of Miami-Dade County, Florida (Phase 2A Townhomes Roadways, Drainage, Lighting, Landscape and Irrigation)	35-3022-035-0930	

Maintenance Services

Public Art

DESCRIPTION OF PUBLIC ART PIECE	PASEO LOCATION	

		

		

Downtown Doral	
COMMUNITY DEVELOPMENT DISTRICT	

Check Register	
Fiscal Year 2026	

01/01/26-01/31/26

Date

Check #'s

Amount

01/01/26-01/31/26	443-445	$142,140.04	

TOTAL	$	142,140.04	

Page 8

AP300R	YEAR-TO-DATE ACCOUNTS PAYABLE PREPAID/COMPUTER CHECK REGISTER	RUN	2/16/26	PAGE	1
*** CHECK DATES 01/01/2026 - 01/31/2026 ***	DOWNTOWN DORAL CDD - GF

CHECK	VEND# DATE	.....INVOICE..... ...EXPENSED TO...		VENDOR NAME DATE	INVOICE	YRMO	DPT ACCT# SUB	SUBCLASS	STATUS	AMOUNT	....CHECK.....
AMOUNT	#	
1/14/26 00002	12/31/25 196703	202512 310-51300-31500	*	2,220.00	

- - - - - - - -	DEC 25 - ATTORNEY FEES
BILLING COCHRAN, P.A.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	
- - - - - - - - -	2,220.00 000443
- - - - - - - - - - - - - -	
1/14/26 00014	1/14/26 01142026 202601 300-20700-10100
DOWNTOWN DORAL CDD	*	135,857.12
135,857.12 000444	
- - - - - - - - 1/14/26 00001	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1/01/26 196	202601 310-51300-34000
1/01/26 196	202601 310-51300-35100	- - - - - - - - -
*
*	- - - - - - - - - - - - - -
3,442.08
100.00	
	JAN 26 - COMPUTER TIME
1/01/26 196	202601 310-51300-31300	*	416.67	
	JAN 26 - DISSEMINATION
1/01/26 196	202601 310-51300-35101	*	100.00	
	JAN 26 - WEBSITE ADMIN
1/01/26 196	202601 310-51300-51000	*	.15	
	JAN 26 - OFFICE SUPPLIES
1/01/26 196	202601 310-51300-42000	*	4.02	
	JAN 26 - POSTAGE
GOVERNMENTAL MANAGEMENT SERVICES		4,062.92 000445	
- - - - - - - -	- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -	- - - - - - - - -	- - - - - - - - - - - - - -	

BANK B DOWNTOWN DORAL GF

TXFR FROM DEBT SVC FUND

JAN 26 - MGMT FEES

TOTAL FOR BANK B	142,140.04
TOTAL FOR REGISTER	142,140.04

DOWN DOWNTOWN DORAL

Downtown Doral	
Community Development District	

Unaudited Financial Reporting	
January 31, 2026	

Table of Contents

	Balance Sheet

	General Fund

	Debt Service Fund Series 2015

	Capital Projects Fund Series 2015

	Month to Month

	Long Term Debt Report

	Assessment Receipt Schedule

Downtown Doral	
Community Development District	
Combined Balance Sheet	
January 31, 2026	

General	Debt Service	Capital Project	Totals	
Fund	Funds	Fund	Governmental Funds	

Assets:	
Cash:	
Operating Account	
Due from General Fund	

$	27,466	
-	

$	-	
3,465	

$	-	
-	

$	27,466	
3,465	

Investments:	
State Board of Administration	

369,401	-	-	369,401

Series 2015	
Reserve	
Revenue	
Interest	
Sinking	
Prepayment - 3911	
Prepayment - 3912	
Sinking - 3907	
Acq & Construction	

-	
-	
-	
-	
-	
-	
-	
-	

517,204	
1,076,214	
152	
54	
16,013	
4,853	
2,155	
-	

-	
-	
-	
-	
-	
-	
-	
356,450	

517,204	
1,076,214	
152	
54	
16,013	
4,853	
2,155	
356,450	

Total Assets	$	396,867	$	1,620,110	$	356,450	$	2,373,427	
Liabilities:	
Due to Debt Service	$	3,465	$	-	$	-	$	3,465	

Total Liabilites	$	3,465	$	-	$	-	$	3,465

Fund Balance:	
Restricted for:	
Debt Service	
Capital Project	
Unassigned	

$	-	
356,450	
-	

$	1,620,110	
356,450	
393,402	

$	-	$	1,620,110

393,402	-

Total Fund Balances	$	393,402	$	1,620,110	$	356,450	$	2,369,962	

Total Liabilities & Fund Balance	$	396,867	$	1,620,110	$	356,450	$	2,373,427

Downtown Doral	
Community Development District	
General Fund	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Adopted	Prorated Budget	Actual	
Budget	Thru 01/31/26	Thru 01/31/26	Variance	

Revenues:		
Special Assessments - On Roll	$	104,071	
Interest Income	10,000	

$	89,750	
3,333	

$	89,750	
4,626	

$	-	
1,293	

Total Revenues	$	114,071	$	93,084	$	94,377	$	1,293	

Expenditures:			
General & Administrative:			
Engineering	$	12,000	$	4,000	$	-	$	4,000	
Attorney Fees	20,000	6,667	4,190	2,477	
Annual Audit	4,000	3,600	3,600	-	
Assessment Administration	5,000	5,000	5,000	-	
Arbitrage Rebate	1,200	-	-	-	
Dissemination Agent	5,000	1,667	1,667	(0)	
Trustee Fees	8,300	7,200	7,200	-	
Management Fees	41,305	13,768	13,768	(0)	
Computer Time	1,200	400	400	-	
Website Maintenance	1,200	400	400	-	
Telephone	100	33	-		
Postage & Delivery	750	250	47	203	
Printing & Binding	750	250	8	243	
Insurance General Liability	19,400	7,671	7,671	-	
Legal Advertising	2,500	833	515	318	
Other Current Charges	750	250	277	(27)	
Office Supplies	125	42	0	42	
Dues, Licenses & Subscriptions	175	175	175	-	
Capital Outlay	250	83	-	83	
Contingency	1,073	358	-	358	

Total Expenditures	$	125,078	$	52,647	$	44,918	$	7,696	

Excess (Deficiency) of Revenues over Expenditures	$	(11,007)	$	40,437	$	49,459	$	8,989	

Net Change in Fund Balance	$	(11,007)	$	40,437	$	49,459	$	8,989	
	
Fund Balance - Beginning	$	11,007		$	343,943		
	
Fund Balance - Ending	$	-		$	393,402		

Downtown Doral	
Community Development District	
Debt Service Fund Series 2015	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Revenues:		
Special Assessments - On Roll	$  1,017,841	
Interest Income	20,000	

	
$	877,785	
6,667	

	
$	877,785	
13,041	

	
$	-	
6,374	

Total Revenues	$ 1,037,841	$	884,451	$	890,825	$	6,374	

Expenditures:		
Interest Expense - 11/01	$	335,669	$	335,669	$	335,669	$	-	
Principal Expense - 05/01	215,000	-	-	-	
Interest Expense - 05/01	335,669	-	-	-	
Special Call - 05/01	-	-	-	-	
Total Expenditures	$	886,339	$	335,669	$	335,669	$	-	

Excess (Deficiency) of Revenues over Expenditures	$	151,502	$	548,782	$	555,156	$	6,374	

Net Change in Fund Balance	$	151,502	$	548,782	$	555,156	$	6,374	
		
Fund Balance - Beginning	$	565,825	$  1,064,954	
		
Fund Balance - Ending	$	717,327	$  1,620,110	

Downtown Doral	
Community Development District	
Capital Projects Fund Series 2015	
Statement of Revenues, Expenditures, and Changes in Fund Balance	
For The Period Ending January 31, 2026	

Revenues:		
Interest Income	-	

-	4,655	4,655

Total Revenues	$	-	$	-	$	4,655	$	4,655	

Expenditures:		
Capital Outlay	$	-	$	-	$	3,595	$	(3,595)	
Total Expenditures	$	-	$	-	$	3,595	$	(3,595)	

Excess (Deficiency) of Revenues over Expenditures	$	-	$	-	$	1,060	$	1,060	

Net Change in Fund Balance	$	-	$	-	$	1,060	$	1,060	
		
Fund Balance - Beginning	$	-	$	355,391	
		
Fund Balance - Ending	$	-	$	356,450	

Downtown Doral	
Community Development District	
Month to Month	

Oct	Nov	Dec	Jan	Feb	March	April	May	June	July	Aug	Sept	Total	

Revenues:														
Special Assessments - On Roll	$	-	$  27,874	$  56,042	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  83,916	
Interest Income	1,191	1,077	1,144	-	-	-	-	-	-	-	-	-	3,412	

Total Income	$	1,191	$  28,951	$  57,186	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  87,328	

Expenditures:														
General & Administrative:														
Engineering	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	
Attorney Fees	500	1,470	-	-	-	-	-	-	-	-	-	-	1,970	
Annual Audit	-	3,600	-	-	-	-	-	-	-	-	-	-	3,600	
Assessment Administration	5,000	-	-	-	-	-	-	-	-	-	-	-	5,000	
Arbitrage Rebate	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dissemination Agent	417	417	417	-	-	-	-	-	-	-	-	-	1,250	
Trustee Fees	7,200	-	-	-	-	-	-	-	-	-	-	-	7,200	
Management Fees	3,442	3,442	3,442	-	-	-	-	-	-	-	-	-	10,326	
Computer Time	100	100	100	-	-	-	-	-	-	-	-	-	300	
Website Maintenance	100	100	100	-	-	-	-	-	-	-	-	-	300	
Telephone	-	-	-	-	-	-	-	-	-	-	-	-	-	
Postage & Delivery	36	1	5	-	-	-	-	-	-	-	-	-	43	
Printing & Binding	-	0	7	-	-	-	-	-	-	-	-	-	8	
Insurance General Liability	7,671	-	-	-	-	-	-	-	-	-	-	-	7,671	
Legal Advertising	515	-	-	-	-	-	-	-	-	-	-	-	515	
Other Current Charges	85	139	52	-	-	-	-	-	-	-	-	-	277	
Office Supplies	-	-	-	-	-	-	-	-	-	-	-	-	-	
Dues, Licenses & Subscriptions	175	-	-	-	-	-	-	-	-	-	-	-	175	
Capital Outlay	-	-	-	-	-	-	-	-	-	-	-	-	-	
Contingency	-	-	-	-	-	-	-	-	-	-	-	-	-	

Total Expenditures	$  25,242	$	9,269	$	4,123	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  38,635	

Excess (Deficiency) of Revenues over Expe	$  (24,051)	$  19,681	$  53,063	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  48,693	

Net Change in Fund Balance	$ (24,051)	$  19,681	$  53,063	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$  48,693	

Page 5

Downtown Doral	
Community Development District	
Long Term Debt Report Series 2015	

	

	

	

	

	

	

Special Assessment Bonds, Series 2015	
Original Bond Issue - 09/30/2019	$14,290,000

Term 1:	$1,030,000	
Interest Rate:	4.50%	
Maturity Date:	May 1, 2025

Term 2:	$1,740,000
Interest Rate:	4.63%
Maturity Date:	May 1, 2026

Term 3:	$1,675,000
Interest Rate:	5.25%
Maturity Date:	May 1, 2035

Term 4:	$2,875,000
Interest Rate:	5.30%
Maturity Date:	May 1, 2036

Term 5:	$2,860,000
Interest Rate:	5.50%
Maturity Date:	May 1, 2045

Term 24:	$4,930,000
Interest Rate:	5.50%
Maturity Date:	May 1, 2046

Reserve Fund Definition	50% of Maximum Annual Debt Service
Reserve Fund Requirement	$510,463
Reserve Fund Balance	$517,204

Original Bond Amount:	$14,290,000
Less: Principal Payment - 5/01/20	($265,000)
Less: Principal Payment - 5/01/21	($275,000)
Less: Principal Payment - 5/01/22	($290,000)
Less: Principal Payment - 5/01/23	($300,000)
Less: Principal Payment - 5/01/24	($310,000)
Less: Principal Payment - 5/01/25	($325,000)
Less: Special Call - 5/01/25	($125,000)	
Current Bonds Outstanding	$12,400,000	

Page 6

Downtown Doral
COMMUNITY DEVELOPMENT DISTRICT
Special Assessment Receipts - Miami-Dade County Fiscal Year 2026

	Gross Assessments	$	109,547.91	$	1,071,411.68	$	1,180,959.59	
	Net Assessments	$	104,070.51	$	1,017,841.10	$	1,121,911.61	
ON ROLL ASSESSMENTS	
allocation in %	
9.28%	
90.72%	
100.00%	

Date	
Gross Amount	Discoumt/
Penalty	
Commission	
Interest	
Net Receipts	
O&M Portion	2020
Debt Service	
Total	

11/12/2025	
$	8,290.47	
$	331.60	
$	79.58	
$	-	
$	7,879.29	
$	730.90	
$	7,148.39	
$	7,879.29	
11/17/2025	99,815.55	3,992.68	958.22	-	94,864.65	8,799.81	86,064.84	94,864.65	
11/19/2025	6,156.03	289.51	58.67	-	5,807.85	538.75	5,269.10	5,807.85	
11/28/2025	201,950.88	8,078.02	1,938.74	-	191,934.12	17,804.15	174,129.97	191,934.12	
12/4/2025	540,280.14	21,611.50	5,186.69	-	513,481.95	47,631.50	465,850.45	513,481.95	
12/19/2025	95,104.82	3,521.82	915.83	-	90,667.17	8,410.45	82,256.72	90,667.17	
1/8/2026	61,523.27	1,845.66	596.77	-	59,080.84	5,480.44	53,600.40	59,080.84	
1/9/2026	2,892.77	77.69	28.15	-	2,786.93	258.52	2,528.41	2,786.93	
1/23/2026	-	-	-	1,031.96	1,031.96	95.73	936.23	1,031.96	
	$ 1,016,013.93	$	39,748.48	$	9,762.65	$	1,031.96	$	967,534.76	$	89,750.25	$	877,784.51	$	967,534.76	

$

86.03%
-

Percent Collected Balance Remaining to Collect

Page 7