KEYS EDGE COMMUNITY DEVELOPMENT
DISTRICT

MIAMI-DADE COUNTY Regular Board Meeting & Public Hearing August 26, 2026
3:00 P.M.

Special District Services, Inc. 8785 SW 165th Avenue, Suite 200
Miami, FL 33193

www.keysedgecdd.org 786.347.2700 ext. 2027 Telephone 877.SDS.4922 Toll Free 561.630.4923 Facsimile

AGENDA
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
Hampton Inn & Suites – Homestead
1st Floor Conference Room (Reef I Board Room) 2855 N.E. 9th Street
Homestead, Florida 33033
REGULAR BOARD MEETING & PUBLIC HEARING
August 26, 2026
3:00 p.m.

Call to Order
Proof of Publication…	Page 1
Establish Quorum
Additions or Deletions to Agenda
Comments from the Public for Items Not on the Agenda
Approval of Minutes
August 12, 2026 Special Board Meeting…	Page 3
Public Hearing
Proof of Publication…	Page 8
Receive Public Comments on Fiscal Year 2026/2027 Final Budget
Consider Resolution No. 2026-05 – Adopting a Fiscal Year 2026/2027 Final Budget…	Page 10
Old Business
Staff Report, as Required
New Business
Consider Revised Second Supplemental Engineer’s Report (Assessment Area Three)…	Page 18
Acquisition Agreement (Assessment Area Three)…	Page 38
Collateral Assignment and Assumption (Assessment Area Three)…	Page 54
Completion Agreement (Assessment Area Three)…	Page 65
Lien of Record (Assessment Area Three)…	Page 76
True-Up Agreement (Assessment Area Three)…	Page 79
Consider Resolution No. 2026-06 – Adopting a Fiscal Year 2026/2027 Meeting Schedule…	Page 93
Administrative & Operational Matters
Board Member & Staff Closing Comments
Adjourn

McClatchy

The Beaufort Gazette
The Belleville News-Democrat Bellingham Herald
Centre Daily Times Sun Herald
Idaho Statesman Bradenton Herald
The Charlotte Observer The State
Ledger-Enquirer

Durham | The Herald-Sun Fort Worth Star-Telegram The Fresno Bee
The Island Packet The Kansas City Star
Lexington Herald-Leader The Telegraph - Macon Merced Sun-Star
Miami Herald
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The Modesto Bee
The Sun News - Myrtle Beach Raleigh News & Observer Rock Hill | The Herald
The Sacramento Bee San Luis Obispo Tribune
Tacoma | The News Tribune Tri-City Herald
The Wichita Eagle The Olympian

AFFIDAVIT OF PUBLICATION

Account #	Order Number	Identification	Order PO	Cols	Depth	
57814	IPL0362561	Legal Ad - IPL0362561		1.0	92.0L	

ATTENTION: Keys Edge Community Development District IP 2501A Burns Road
Palm Beach Gardens, FL 33410 larcher@sdsinc.org

NOTICE OF PUBLIC HEAR-ING AND REGULAR BOARD MEETING OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

NOTICE IS HEREBY GIVEN that
the Keys Edge Community Develop-ment District (the “District”) will hold a Public Hearing and Regular Board Meeting (the “Meeting”) of its Board of Supervisors (the “Board”) on Au-gust 26, 2026, at 3:00 p.m., or as soon thereafter as may be heard, in the Hampton Inn & Suites, 1st Floor Conference Room (Reef I Board Room) located at 2855 NE 9th Street, Homestead, Florida 33030. The pur-pose of the Public Hearing is to re-ceive public comment on the Fiscal Year 2026/2027 Proposed Budget and Non-Ad Valorem Assessment Roll of the District. The Regular Board Meeting is being held for the neces-sary public purpose of considering any other District business which may lawfully and properly come before the Board. At such time, the Board is so authorized and may consider any business that may properly come be-fore it.
A copy of the budget and/or the agen-da for the Meeting may be obtained from the District’s website (www. keysedgecdd.org), at the offices of the District Manager, 8785 SW 165th Ave-nue, Suite 200, Miami, Florida 33193, during normal business hours, or by emailing nnguyen@sdsinc.org. The Meeting is open to the public and will be conducted in accordance with the provisions of Florida law for special districts. The Meeting may be contin-ued to a date, time, and place to be specified on the record at the Meeting.
There may be occasions when one or two Supervisors will participate by telephone; therefore, a speaker tele-phone will be present at the meeting location so that Supervisors may be fully informed of the discussions tak-ing place.
Any person requiring special ac-commodations in order to access or participate in the Meeting because of a disability or physical impairment should contact the District Manager’s Office at least forty-eight (48) hours prior to the Meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) /
1-800-955-8770 (Voice), for aid in contacting the District Manager’s Of-fice.

PUBLISHED DAILY MIAMI-DADE-FLORIDA

STATE OF FLORIDA COUNTY OF MIAMI-DADE

Before the undersigned authority personally appeared, the under-signed, who on oath says that he/she is Custodian of Records of The The Miami Herald, a newspaper published in MIami Dade County, Flor-ida, that the attached was published on the publicly accessible website of The Miami Herald or by print In the issues and dates listed below.

Affiant further Says that the said Miami Herald website or newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.

2.0 insertion(s) published on: 08/06/26 Print, 08/13/26 Print

Print Tearsheet Link Marketplace Link

Sherry Chasteen

Each person who decides to appeal any decision made by the Board with respect to any matter considered at the Meeting is advised that such per-son will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, includ-ing the testimony and evidence upon which such appeal is to be based.

Sworn to and subscribed before me on

Aug 13, 2026, 8:55 AM EDT

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
www.keysedgecdd.org
PUBLISH:	MIAMI HERALD 08/06/26 & 08/13/26 IPL0362561
Aug 6,13 2026

Page 1

Online Notary Public. This notarial act involved the use of online audio/video communication technology. Notarization facilitated by SIGNiX®

NOTICE OF PUBLIC HEAR-ING AND REGULAR BOARD MEETING OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

NOTICE IS HEREBY GIVEN that
the Keys Edge Community Develop-ment District (the “District”) will hold a Public Hearing and Regular Board Meeting (the “Meeting”) of its Board of Supervisors (the “Board”) on Au-gust 26, 2026, at 3:00 p.m., or as soon thereafter as may be heard, in the Hampton Inn & Suites, 1st Floor Conference Room (Reef I Board Room) located at 2855 NE 9th Street, Homestead, Florida 33030. The pur-pose of the Public Hearing is to re-ceive public comment on the Fiscal Year 2026/2027 Proposed Budget and Non-Ad Valorem Assessment Roll of the District. The Regular Board Meeting is being held for the neces-sary public purpose of considering any other District business which may lawfully and properly come before the Board. At such time, the Board is so authorized and may consider any business that may properly come be-fore it.
A copy of the budget and/or the agen-da for the Meeting may be obtained from the District’s website (www. keysedgecdd.org), at the offices of the District Manager, 8785 SW 165th Ave-nue, Suite 200, Miami, Florida 33193, during normal business hours, or by emailing nnguyen@sdsinc.org. The Meeting is open to the public and will be conducted in accordance with the provisions of Florida law for special districts. The Meeting may be contin-ued to a date, time, and place to be specified on the record at the Meeting.
There may be occasions when one or two Supervisors will participate by telephone; therefore, a speaker tele-phone will be present at the meeting location so that Supervisors may be fully informed of the discussions tak-ing place.
Any person requiring special ac-commodations in order to access or participate in the Meeting because of a disability or physical impairment should contact the District Manager’s Office at least forty-eight (48) hours prior to the Meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) /
1-800-955-8770 (Voice), for aid in contacting the District Manager’s Of-fice.
Each person who decides to appeal any decision made by the Board with respect to any matter considered at the Meeting is advised that such per-son will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, includ-ing the testimony and evidence upon which such appeal is to be based.

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
www.keysedgecdd.org
PUBLISH:	MIAMI HERALD 08/06/26 & 08/13/26 IPL0362561
Aug 6,13 2026

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT SPECIAL BOARD MEETING
AUGUST 12, 2026

CALL TO ORDER

District Manager Nancy Nguyen called the August 12, 2026, Special Board Meeting of Keys Edge Community Development District (the “District”) to order at 3:02 p.m. in the Kendall Executive Center Second Floor Conference Room located at 8785 SW 165 Avenue, Suite 200, Miami, Florida 33193.

PROOF OF PUBLICATION

Ms. Nguyen presented proof of publication that notice of the Special Board Meeting had been published in the Miami Herald on August 3, 2026, as legally required.

ESTABLISH A QUORUM

Ms. Nguyen determined that the attendance of Chairman Ronald Fields, Vice Chairwoman Alicia Ale, and Supervisor Jose Iglesias constituted a quorum and it was in order to proceed with the meeting.

Staff in attendance included: District Managers Nancy Nguyen and Armando Silva of Special District Services, Inc., General Counsel Ginger Wald of Billing Cochran, P.A. (via video conference), and Juan Alvarez of Alvarez Engineers.

Also in attendance were: Pedro Hernandez and Gilberto Delgado of Squire Patton Boggs (via video conference), Debbie Leonard and Heath Rivers of DR Horton, and Joseline Pereira and Pedro Hernandez of Audax Land.

Ms. Nguyen stated that as a courtesy to the District’s guests, she would like to take the meeting agenda out of order and discuss Old Business, New Business, and Administrative Matters at this time. The Board acknowledged Ms. Nguyen’s request.
NOTE: Agenda items G., H., and I. were discussed at this time.
ADDITIONS OR DELETIONS TO THE AGENDA

NOTE: This item was discussed after Item I.

There were no additions or deletions to the agenda.

COMMENTS FROM THE PUBLIC FOR ITEMS NOT ON THE AGENDA

There were no comments from the public for items not on the agenda.

APPROVAL OF MINUTES
June 24, 2026, Regular Board Meeting
Page 1 of 5

Ms. Nguyen presented the minutes of the June 24, 2026, Regular Board Meeting and asked if there were any changes and/or corrections.

There being no changes, a motion was made by Mr. Fields, seconded by Ms. Ale and unanimously passed approving the minutes of the June 24, 2026, Regular Board Meeting, as presented.

OLD BUSINESS
Discussion Regarding Assessment Area Two Bonds (Centro)

Ms. Nguyen stated that District closed on its Keys Edge Community Development District Special Assessment Bonds, Series 2026 (“Assessment Area Two Project”) on August 11, 2026.

NEW BUSINESS
First Supplemental Engineer’s Report (Assessment Area Two) – Ratify

Ms. Nguyen presented the Keys Edge Community Development District First Supplemental Engineer’s Report for Infrastructure Improvements Within Parcel “B” (“Assessment Area Two Engineer’s Report”) dated July 13, 2026. Ms. Nguyen explained that due to the timing of the issuance of the District’s Special Assessment Bonds, Series 2026 (“Assessment Area Two Project”), this Assessment Area Two Engineer’s Report was accepted. Ms. Nguyen further stated that it would be in order for the Board to ratify the District Manager’s actions.

A motion was made by Mr. Fields, seconded by Ms. Ale and unanimously passed to ratify the District Manager’s actions and accept the First Supplemental Engineer’s Report for Infrastructure Improvements Within Parcel “B” dated July 13, 2026.

Consider Supplemental Engineer’s Report (Assessment Area Three)

Ms. Nguyen welcomed Juan Alvarez, the District Engineer. Mr. Alvarez greeted everyone and presented the Keys Edge Community Development District Second Supplemental Engineer’s Report for Infrastructure Improvements Within Parcels “D”, “F”, and “E” (the “Assessment Area Three Engineer’s Report”) dated August 12, 2026. Mr. Alvarez provided an overview of the Assessment Area Three Engineer’s Report, with emphasis on the infrastructure improvements and their estimated costs to be financed by the District. He further explained that Assessment Area Three consists of
40.571 acres and is planned to contain 232 single-family home residential units. The Public Infrastructure Improvements for Assessment Area Three are broken down into the following categories: (i) Onsite Roadway Improvements; (ii) Offsite Roadway Improvements; (iii) Stormwater Management and Drainage Facilities; and (iv) Water Distribution and Sewer Collection Systems.

It was confirmed that the land ownership has been transferred from ONX ODAGLED Grand Palms II, LLC to Audax Land Flora, LLC. Further discussion ensued after which:

A motion was made by Mr. Fields, seconded by Ms. Ale and unanimously passed to approve and accept the Keys Edge Community Development District Second Supplemental Engineer’s Report for Infrastructure Improvements Within Parcels “D”, “F”, and “E” dated August 12, 2026, as amended (updated the landowner’s name).

Consider Preliminary Third Supplemental Special Assessment Methodology Report
Page 2 of 5

Mr. Silva greeted everyone and presented the Preliminary Third Supplemental Special Assessment Methodology Report dated August 12, 2026 (the “Third Supplemental Methodology Report”). Mr. Silva explained that this Third Supplemental Methodology Report supplements the District’s Master Special Assessment Methodology Report dated April 29, 2024, and sets forth the allocation of special assessments as it relates to the sale and issuance by the District of its Special Assessment Bonds, Series 2026 (the “Assessment Area Three Bonds”) in the aggregate amount of $10,170,000, which is subject to change, for the primary purpose of funding the Assessment Area Three Project. Mr. Silva explained that the assessment areas of the Assessment Area Three Bonds include Parcels “D”, “F”, and “E”, and is planned to contain 232 single-family home residential units, additionally, the Assessment Area Three Project public improvements and costs can be found on Table A of the Third Supplemental Report. Mr. Silva stated that this report provides for the allocation of the debt of the Assessment Area Three Bonds to the units which will receive a direct and special benefit from the improvements and sets the maximum debt per unit.

A motion was made by Mr. Fields, seconded by Ms. Ale and unanimously passed adopting the Preliminary Third Supplemental Special Assessment Methodology Report dated August 12, 2026.

Consider Resolution No. 2026-04 – Delegation Resolution (Assessment Area Three)

Resolution No. 2026-04 was presented, entitled:

RESOLUTION NO. 2026-04

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT (THE “DISTRICT”) AUTHORIZING THE ISSUANCE OF NOT EXCEEDING $11,000,000 IN TOTAL AGGREGATE PRINCIPAL AMOUNT OF KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2026 (ASSESSMENT AREA THREE PROJECT) (THE “ASSESSMENT AREA THREE BONDS”) FOR THE PRINCIPAL PURPOSE OF FINANCING CERTAIN PUBLIC INFRASTRUCTURE FOR THE BENEFIT OF CERTAIN LANDS WITHIN A DESIGNATED ASSESSMENT AREA WITHIN THE DISTRICT REFERRED TO AS “ASSESSMENT AREA THREE”; DETERMINING THE NEED FOR A NEGOTIATED LIMITED OFFERING OF THE ASSESSMENT AREA THREE BONDS AND PROVIDING FOR A DELEGATED AWARD OF SUCH ASSESSMENT AREA THREE BONDS; APPOINTING THE UNDERWRITER FOR THE LIMITED OFFERING OF THE ASSESSMENT AREA THREE BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A BOND PURCHASE CONTRACT WITH RESPECT TO THE ASSESSMENT AREA THREE BONDS; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF A THIRD SUPPLEMENTAL TRUST INDENTURE; AUTHORIZING THE USE AND APPLICATION OF THAT CERTAIN MASTER TRUST INDENTURE DATED DECEMBER 1, 2024 WITH RESPECT TO THE ASSESSMENT AREA THREE BONDS; APPROVING THE FORM OF AND AUTHORIZING THE DISTRIBUTION OF  A  PRELIMINARY  LIMITED  OFFERING  MEMORANDUM;
Page 3 of 5

APPROVING THE EXECUTION AND DELIVERY OF A FINAL LIMITED OFFERING MEMORANDUM; APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION OF A CONTINUING DISCLOSURE AGREEMENT AND APPOINTING A DISSEMINATION AGENT; APPROVING THE APPLICATION OF ASSESSMENT AREA THREE BOND PROCEEDS; AUTHORIZING CERTAIN MODIFICATIONS TO THE ASSESSMENT METHODOLOGY REPORT AND the ENGINEER’S REPORT; MAKING CERTAIN DECLARATIONS; PROVIDING FOR THE REGISTRATION OF THE ASSESSMENT AREA THREE BONDS PURSUANT TO THE DTC BOOK-ENTRY ONLY SYSTEM; AUTHORIZING THE PROPER OFFICIALS TO DO ALL THINGS DEEMED NECESSARY IN CONNECTION WITH THE ISSUANCE, SALE AND DELIVERY OF THE ASSESSMENT AREA THREE BONDS; AND PROVIDING FOR SEVERABILITY, CONFLICTS, AN EFFECTIVE DATE AND OTHER MATTERS.

Mr. Hernandez of Squire Patton Boggs stated that during the April 29, 2024 Special Board Meeting, the Board of Supervisors adopted the Initial Bond Resolution, Resolution No. 2024-01, authorizing the District to issue a not to exceed amount of $33,500,000 of its Special Assessment Bonds in one or more series to finance all or a portion of the costs of the public infrastructure within the District. Mr. Hernandez provided an explanation for the document with emphasis on authorizing the issuance of the Keys Edge Community Development District Special Assessment Bonds, Series 2026 (the “Assessment Area Three Bonds”) in the principal amount of not exceeding $11,000,000 for the principal purpose of financing certain public infrastructure within Assessment Area Three, as described in the Engineer’s Report dated June 2, 2022, revised April 29, 2024, as supplemented by the Second Supplemental Engineer’s Report for Infrastructure Improvements Within Parcels “D”, “F”, and “E” dated August 12, 2026. Mr. Hernandez explained that the Exhibits accompanied with this resolution are:

A Bond Purchase Agreement with respect to the Assessment Area Three Bonds by and between FMSbonds, Inc., as the underwriter (the “Underwriter”) and the District, together with the form of a disclosure statement attached to the Bond Purchase Agreement pursuant to Section 218.385, Florida Statutes.
A Preliminary Limited Offering Memorandum, substantially in the form provided.
A Continuing Disclosure Agreement between the District and Special District Services, Inc., the initial dissemination agent.
A Third Supplemental Trust Indenture between the District and Trustee (U.S. Bank Trust Company, N.A.)

Mr. Hernandez explained that proceeds of the Assessment Area Three Bonds shall also fund a debt service reserve account, fund capitalized interest, and pay the costs of the issuance. A discussion ensued, after which:

A motion was made by Mr. Fields, seconded by Ms. Ale and passed unanimously approving and adopting Resolution No. 2026-04, as presented, thereby authorizing the issuance of not to exceed
$11,000,000 principal amount of Keys Edge Community Development District Special Assessment Bonds, Series 2026, to finance a portion of the capital improvements within Assessment Area Three; and authorizes District Officials to execute related documents as so required.

Page 4 of 5

The Board thanked Mr. Hernandez for his assistance and time. Mr. Hernandez and Mr. Delgado disconnected from the video conference at approximately 3:17 p.m.

Mr. Alvarez thanked the Board for their time and indicated that he will circulate an updated Engineer’s Report. The Board thanked Mr. Alvarez. Mr. Alvarez excused himself from the meeting at approximately 3:17 p.m.

ADMINISTRATIVE & OPERATIONAL MATTERS
Consider Approval of Engagement Letter with FMSbonds (Underwriter) NOTE: Administrative & Operational Matters, Items 1 – 3, were discussed at this time.
Ms. Nguyen presented engagement letters from FMSbonds, Inc. (Underwriter), Squire Patton Boggs, LLP (Bond Counsel), and US Bank (Trustee). Ms. Nguyen explained that these professionals have already been working on documents for the District and it would be a formality to accept their engagement letters.

A motion was made by Mr. Fields, seconded by Ms. Ale and unanimously accepted the Engagement Letters from FMSbonds, Inc. as the Underwriter for the District, Squire Patton Boggs, LLP as Bond Counsel for the District, and US Bank as the Trustee for the District.

Consider Approval of Fee Structure with US Bank (Trustee)

This item was discussed under Administrative & Operational Matters, Item 1.

Consider Approval of Engagement Letter with Squire Patton Boggs (Bond Counsel)

This item was discussed under Administrative & Operational Matters, Item 1.

NOTE: Item D. was discussed at this time.
BOARD MEMBER & STAFF CLOSING COMMENTS
Mr. Pedro Hernandez of Audax Land inquired about resignations and appointments of Board members. It was advised that representatives of Audax Land, DR Horton, and Onx Homes discuss the matter and inform the District Manager of any decisions.
There were no Board Member closing comments.
ADJOURNMENT

There being no further business to come before the Board, a motion was made by Mr. Fields, seconded by Ms. Ale and unanimously passed adjourning the Special Board Meeting at approximately 3:21 p.m.

Secretary/Assistant Secretary	Chairperson/Vice Chairperson
Page 5 of 5

McClatchy

The Beaufort Gazette
The Belleville News-Democrat Bellingham Herald
Centre Daily Times Sun Herald
Idaho Statesman Bradenton Herald
The Charlotte Observer The State
Ledger-Enquirer

Durham | The Herald-Sun Fort Worth Star-Telegram The Fresno Bee
The Island Packet The Kansas City Star
Lexington Herald-Leader The Telegraph - Macon Merced Sun-Star
Miami Herald
El Nuevo Herald

The Modesto Bee
The Sun News - Myrtle Beach Raleigh News & Observer Rock Hill | The Herald
The Sacramento Bee San Luis Obispo Tribune
Tacoma | The News Tribune Tri-City Herald
The Wichita Eagle The Olympian

AFFIDAVIT OF PUBLICATION

Account #	Order Number	Identiﬁcation	Order PO	Cols	Depth	
57814	IPL0362561	Legal Ad - IPL0362561		1.0	92.0L	

ATTENTION: Keys Edge Community Development District IP 2501A Burns Road
Palm Beach Gardens, FL 33410 larcher@sdsinc.org

NOTICE OF PUBLIC HEAR-ING AND REGULAR BOARD MEETING OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

NOTICE IS HEREBY GIVEN that
the Keys Edge Community Develop-ment District (the “District”) will hold a Public Hearing and Regular Board Meeting (the “Meeting”) of its Board of Supervisors (the “Board”) on Au-gust 26, 2026, at 3:00 p.m., or as soon thereafter as may be heard, in the Hampton Inn & Suites, 1st Floor Conference Room (Reef I Board Room) located at 2855 NE 9th Street, Homestead, Florida 33030. The pur-pose of the Public Hearing is to re-ceive public comment on the Fiscal Year 2026/2027 Proposed Budget and Non-Ad Valorem Assessment Roll of the District. The Regular Board Meeting is being held for the neces-sary public purpose of considering any other District business which may lawfully and properly come before the Board. At such time, the Board is so authorized and may consider any business that may properly come be-fore it.
A copy of the budget and/or the agen-da for the Meeting may be obtained from the District’s website (www. keysedgecdd.org), at the offices of the District Manager, 8785 SW 165th Ave-nue, Suite 200, Miami, Florida 33193, during normal business hours, or by emailing nnguyen@sdsinc.org. The Meeting is open to the public and will be conducted in accordance with the provisions of Florida law for special districts. The Meeting may be contin-ued to a date, time, and place to be specified on the record at the Meeting.
There may be occasions when one or two Supervisors will participate by telephone; therefore, a speaker tele-phone will be present at the meeting location so that Supervisors may be fully informed of the discussions tak-ing place.
Any person requiring special ac-commodations in order to access or participate in the Meeting because of a disability or physical impairment should contact the District Manager’s Office at least forty-eight (48) hours prior to the Meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) /
1-800-955-8770 (Voice), for aid in contacting the District Manager’s Of-fice.

PUBLISHED DAILY MIAMI-DADE-FLORIDA

STATE OF FLORIDA COUNTY OF MIAMI-DADE

Before the undersigned authority personally appeared, the under-signed, who on oath says that he/she is Custodian of Records of The The Miami Herald, a newspaper published in MIami Dade County, Flor-ida, that the attached was published on the publicly accessible website of The Miami Herald or by print In the issues and dates listed below.

Affiant further Says that the said Miami Herald website or newspaper complies with all legal requirements for publication in chapter 50, Florida Statutes.

2.0 insertion(s) published on: 08/06/26 Print, 08/13/26 Print

Print Tearsheet Link Marketplace Link

Sherry Chasteen

Each person who decides to appeal any decision made by the Board with respect to any matter considered at the Meeting is advised that such per-son will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, includ-ing the testimony and evidence upon which such appeal is to be based.

Sworn to and subscribed before me on

Aug 13, 2026, 8:55 AM EDT

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
www.keysedgecdd.org
PUBLISH:	MIAMI HERALD 08/06/26 & 08/13/26 IPL0362561
Aug 6,13 2026

Page 8

Online Notary Public. This notarial act involved the use of online audio/video communication technology. Notarization facilitated by SIGNiX®

NOTICE OF PUBLIC HEAR-ING AND REGULAR BOARD MEETING OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

NOTICE IS HEREBY GIVEN that
the Keys Edge Community Develop-ment District (the “District”) will hold a Public Hearing and Regular Board Meeting (the “Meeting”) of its Board of Supervisors (the “Board”) on Au-gust 26, 2026, at 3:00 p.m., or as soon thereafter as may be heard, in the Hampton Inn & Suites, 1st Floor Conference Room (Reef I Board Room) located at 2855 NE 9th Street, Homestead, Florida 33030. The pur-pose of the Public Hearing is to re-ceive public comment on the Fiscal Year 2026/2027 Proposed Budget and Non-Ad Valorem Assessment Roll of the District. The Regular Board Meeting is being held for the neces-sary public purpose of considering any other District business which may lawfully and properly come before the Board. At such time, the Board is so authorized and may consider any business that may properly come be-fore it.
A copy of the budget and/or the agen-da for the Meeting may be obtained from the District’s website (www. keysedgecdd.org), at the offices of the District Manager, 8785 SW 165th Ave-nue, Suite 200, Miami, Florida 33193, during normal business hours, or by emailing nnguyen@sdsinc.org. The Meeting is open to the public and will be conducted in accordance with the provisions of Florida law for special districts. The Meeting may be contin-ued to a date, time, and place to be specified on the record at the Meeting.
There may be occasions when one or two Supervisors will participate by telephone; therefore, a speaker tele-phone will be present at the meeting location so that Supervisors may be fully informed of the discussions tak-ing place.
Any person requiring special ac-commodations in order to access or participate in the Meeting because of a disability or physical impairment should contact the District Manager’s Office at least forty-eight (48) hours prior to the Meeting. If you are hearing or speech impaired, please contact the Florida Relay Service by dialing 7-1-1, or 1-800-955-8771 (TTY) /
1-800-955-8770 (Voice), for aid in contacting the District Manager’s Of-fice.
Each person who decides to appeal any decision made by the Board with respect to any matter considered at the Meeting is advised that such per-son will need a record of proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made, includ-ing the testimony and evidence upon which such appeal is to be based.

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
www.keysedgecdd.org
PUBLISH:	MIAMI HERALD 08/06/26 & 08/13/26 IPL0362561
Aug 6,13 2026

RESOLUTION NO. 2026-05

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT APPROVING AND ADOPTING A FISCAL YEAR 2026/2027 FINAL BUDGET PURSUANT TO CHAPTER 190, FLORIDA STATUTES; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, the Board of Supervisors (the “Board”) of the Keys Edge Community Development District (the “District”) has prepared a Proposed Operating Fund Budget for Fiscal Year 2026/2027, and the Board is empowered to provide a funding source to operate the District and to impose special assessments upon the properties within the District, as required; and

WHEREAS, the District has held a duly advertised Public Hearing to receive public comments on the Proposed Operating Fund Budget, has considered and adopted the Fiscal Year 2026/2027 Operating Fund Budget; and is now authorized to levy non-ad valorem assessments upon the assessable properties within the District.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, THAT:

Section 1.  The Operating Fund Budget for Fiscal Year 2026/2027 attached hereto as Exhibit “A” is accepted, approved and adopted by the Board.
Section 2.  The Secretary and/or Assistant Secretary of the District is authorized to execute any and all necessary transmittals, certifications or other acknowledgements or writings, as necessary, to comply with the intent of this Resolution.

PASSED, ADOPTED and EFFECTIVE this 26th day of August, 2026.

ATTEST:	KEYS EDGE
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

Keys Edge Community Development District

Final Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (2024)

DETAILED FINAL DEBT SERVICE FUND BUDGET (2026)

ASSESSMENT COMPARISON

FINAL BUDGET
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2026/2027 BUDGET	
Administrative Assessments	148,343	
Maintenance Assessments	144,149	
Developer Contribution	0	
Debt Assessments (2024)	593,494	
Debt Assessments (2026)	260,425	
Other Revenues	0	
Interest Income	480	
TOTAL REVENUES	$	1,146,891	
		
EXPENDITURES		
Maintenance Expenditures		
Engineering	20,000	
Field Operations	1,500	
Street/Roadway Maintenance/Signage	3,000	
Common Area Maintenance (Alba, Aurora & Centro)	24,000	
Entry Feature Maintenance	18,000	
Landscaping	12,000	
Lawn Maintenance	30,000	
Storm Drainage/Class V Permit	3,500	
Maintenance Contingency	23,500	
TOTAL MAINTENANCE EXPENDITURES	$	135,500	
		
Administrative Expenditures		
Supervisor Fees	0	
Management	27,576	
Legal	18,000	
Assessment Roll	10,000	
Audit Fees	5,500	
Arbitrage Rebate Fee	1,300	
Insurance	8,200	
Legal Advertisements	20,000	
Miscellaneous	1,500	
Postage	1,500	
Office Supplies	750	
Dues & Subscriptions	175	
Trustee Fees	9,000	
Continuing Disclosure Fee	2,000	
Dissemination Services	2,500	
Website Management	2,000	
Administrative Contingency	29,921	
TOTAL ADMINISTRATIVE EXPENDITURES	$	139,922	
		
TOTAL EXPENDITURES	$	275,422	
		
REVENUES LESS EXPENDITURES	$	871,469	
		
Bond Payments (2024)	(557,885)	
Bond Payments (2026)	(244,800)	
		
BALANCE	$	68,784	
		
County Appraiser & Tax Collector Fee	(22,928)	
Discounts For Early Payments	(45,856)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Per Developer Funding Agreement, Developer Responsible For Any Funding Shortages.

DETAILED FINAL BUDGET
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	
FISCAL YEAR 2024/2025
ACTUAL	
FISCAL YEAR 2025/2026
BUDGET	
FISCAL YEAR 2026/2027
BUDGET	

COMMENTS	
Administrative Assessments	78,213	77,022	148,343	For 279 Phase 1 & 144 Phase 2 Lots - Expenditures Less Interest/.94	
Maintenance Assessments	115,900	115,899	144,149	For 279 Phase 1 & 144 Phase 2 Lots - Expenditures/.94	
Developer Contribution	27,481	109,810	0	For Expenditures Funded By Developer	
Debt Assessments (2024)	0	593,494	593,494	Bond Payments/.94	
Debt Assessments (2026)	0	0	260,425	Bond Payments/.94	
Other Revenues	31,332	0	0		
Interest Income	3,681	240	480	Interest Projected At $40 Per Month	
TOTAL REVENUES	$	256,607	$	896,465	$	1,146,891		
					
EXPENDITURES					
Maintenance Expenditures					
Engineering	2,098	20,000	20,000	No Change From 2025/2026 Budget	
Field Operations	0	0	1,500	Field Operations	
Street/Roadway Maintenance/Signage	0	3,000	3,000	No Change From 2025/2026 Budget	
Common Area Maintenance (Alba, Aurora & Centro)	0	24,000	24,000	No Change From 2025/2026 Budget	
Entry Feature Maintenance	0	12,000	18,000	No Change From 2025/2026 Budget	
Landscaping	0	12,000	12,000	Landscaping	
Lawn Maintenance	15,400	15,000	30,000	FY 25/26 Expenditure Through March 26 Was $8,921	
Storm Drainage/Class V Permit	0	3,500	3,500	Storm Drainage/Class V Permit	
Maintenance Contingency	1,400	19,445	23,500	Maintenance Contingency	
TOTAL MAINTENANCE EXPENDITURES	$	18,898	$	108,945	$	135,500		
					
Administrative Expenditures					
Supervisor Fees	0	0	0	Typically Non-Applicable First Few Years	
Management	26,100	26,856	27,576	CPI Adjustment	
Legal	9,429	18,000	18,000	No Change From 2025/2026 Budget	
Assessment Roll	10,000	10,000	10,000	No Change From 2025/2026 Budget	
Audit Fees	3,200	4,400	5,500	Fee Will Be Higher Due To Second Bond Issuance	
Arbitrage Rebate Fee	0	650	1,300	Adjusted For Second Bond Issue	
Insurance	7,028	8,000	8,200	FY 25/26 Expenditure Was $7,450	
Legal Advertisements	2,038	25,000	20,000	$5,000 Decrease From 2025/2026 Budget	
Miscellaneous	723	1,500	1,500	No Change From 2025/2026 Budget	
Postage	374	1,500	1,500	No Change From 2025/2026 Budget	
Office Supplies	416	750	750	No Change From 2025/2026 Budget	
Dues & Subscriptions	175	175	175	Annual Dues Paid To Department Of Economic Opportunity	
Trustee Fees	0	4,500	9,000	Adjusted For Second Bond Issue	
Continuing Disclosure Fee	0	1,000	2,000	Adjusted For Second Bond Issue	
Dissemination Services	0	2,500	2,500	Required By Bond Underwriter-Adjusted For 2nd Bond Issue	
Website Management	2,000	2,000	2,000	Website Management	
Administrative Contingency	31,330	75,619	29,921	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	92,813	$	182,450	$	139,922		
					
TOTAL EXPENDITURES	$	111,711	$	291,395	$	275,422		
					
REVENUES LESS EXPENDITURES	$	144,896	$	605,070	$	871,469		
					
Bond Payments (2024)	0	(557,885)	(557,885)	2027 P & I Payments	
Bond Payments (2026)	0	0	(244,800)	2027 P & I Payments	
					
BALANCE	$	144,896	$	47,185	$	68,784		
					
County Appraiser & Tax Collector Fee	(1,884)	(15,728)	(22,928)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,366)	(31,457)	(45,856)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	137,646	$	-	$	-		

Notes
Per Developer Funding Agreement, Developer Responsible For Any Funding Shortages.

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2024)
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 ANNUAL BUDGET	FISCAL YEAR 2026/2027 ANNUAL BUDGET	

COMMENTS	

Interest Income	
11,795	
1,000	
1,200	
Projected Interest For FY 2026/2027	

NAV Tax Collection	
0	
557,885	
557,885	
Maximum Debt Service Collection	

Bond Proceeds	
448,341	
0	
0		

Total Revenues	
$	460,136	
$	558,885	
$	559,085		

EXPENDITURES					

Principal Payments	
0	
125,000	
130,000	
Principal Payment Due In 2027	

Interest Payments	
175,806	
430,759	
425,181	
Interest Payments Due In 2027	

Bond Redemption	
0	
3,126	
3,904	
Estimated Excess Debt Collections	

Total Expenditures	
$	175,806	
$	558,885	
$	559,085		

Excess/ (Shortfall)	
$	284,330	
$	-	
$	-		

Series 2024 Bond Information

Original Par Amount =	$8,370,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.375% - 5.375%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	December 2024			
Maturity Date =

Par Amount As Of 1/1/26 =	May 2055

$8,370,000			

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2026)
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

REVENUES	FISCAL YEAR 2024/2025 ACTUAL	FISCAL YEAR 2025/2026 ANNUAL BUDGET	FISCAL YEAR 2026/2027 ANNUAL BUDGET	

COMMENTS	

Interest Income	
0	
0	
1,000	
Projected Interest For FY 2026/2027	

NAV Tax Collection	
0	
0	
244,800	
Maximum Debt Service Collection	

Bond Proceeds	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	245,800		

EXPENDITURES					

Principal Payments	
0	
0	
50,000	
Principal Payment Due In 2027	

Interest Payments	
0	
0	
191,225	
Interest Payments Due In 2027	

Bond Redemption	
0	
-	
4,575	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	245,800		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Note: Capitalized Interest Set-up Through November 2026.

Series 2026 Bond Information

Original Par Amount =	$3,515,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.65-5.80%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2026			
Maturity Date =

Par Amount As Of 8/26/26 =	May 2056

$3,515,000			

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year
2024/2025	2025/2026	2026/2027
	Assessment*	 	Assessment*	  Projected Assessment* 

Administrative For Single Family (Alba & Aurora)	$	276.08	$	276.08	$	350.70	
Maintenance For Single Family (Alba & Aurora)	$	415.41	$	415.41	$	340.79	
Debt For Single Family (Alba & Aurora)	 $	- 	 $	2,127.22	 $	2,127.22	
Total For Single Family	$	691.49	$	2,818.71	$	2,818.71	

Administrative For Townhomes (Centro)	
$	-	$	-	$	350.70	
Maintenance For Townhomes (Centro)	$	-	$	-	$	340.79	
Debt For Townhomes (Centro)	 $	- 	 $	- 	 $	1,808.51	
Total For Townhomes (Centro)	$	-	$	-	$	2,500.00	

* Assessments Include the Following: 4% Discount for Early Payments
1% County Tax Collector Fee 1% County Property Appraiser Fee	O&M Covenant = 691.49 650.00/.94 = 691.49		
Community Information			
Platted Lots (Assessment Area One)	Platted Lots (Assessment Area Two)	Area One: 279 Units	789 Lots	
Single Family: 137 Alba Units	Centro	  Area Two: 144 Units 	Planned For District	
Single Family: 142 Aurora Units	Townhomes: 144 Units	Total Units: 423 Units	366 Unplatted Lots	
Total: 279 Units	Total: 144 Units			

Keys Edge Community Development District

Second Supplemental Engineer’s Report for
Infrastructure Improvements Within
Parcels “D”, “F”, and “E” (“Assessment Area Three”)

Prepared for
Keys Edge Community Development District Board of Supervisors
Miami-Dade County, Florida

Prepared by
Alvarez Engineers, Inc.
8935 NW 35 Lane, Suite 101
Doral, FL 33172
Telephone 305-640-1345

E-Mail Address: Alvarez@Alvarezeng.com

Accepted August 12, 2026
Revised August 18, 2026

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

TABLE OF CONTENTS
Narrative	Page
Introduction	1
Composition of the Land within Flora Subdivision	1
Description of the Flora Subdivision Public Infrastructure	2
Ownership and Maintenance	3
Permitting Status	4
VI Estimated Schedule of Construction	4
Estimate of Flora Subdivision Public Infrastructure Costs	4
Engineer’s Certification	5
Appendix
Exhibit 1,	Location Map	7
Detail of Estimated Construction Costs	8 to 18

8935 NW 35 Lane, Suite 101, Doral, Florida 33172
Telephone (305) 640-1345 E-Mail: Alvarez@AlvarezEng.com

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

Introduction.
The District intends to issue Special Assessment Bonds, Series 2026 (Assessment Area Three), to partially finance, among other things, the public infrastructure that supports the development within Parcels D, F, and E of the District (“Flora Subdivision”), referred to herein together as “Assessment Area Three”. See Exhibit 1 for the location.
Previously, on June 2, 2022, the District Board of Supervisors accepted the District Engineer’s Report that preliminarily described the public infrastructure intended to be constructed to support the developments within Parcels A (“Luna”), B (“Centro”), C (“Aurora”), D (“Flora”), E (“Flora II”), F (“Park”), and G (“Alba”). Such Engineer’s Report was later revised on April 29, 2024 to update the estimated schedules of construction and the permitting status of all seven parcels (collectively, the “Master Engineer’s Report”).

The Master Engineer’s Report was part of the District documents supporting the issuance of its
$8,370,000 Special Assessment Bonds, Series 2024 (Assessment Area One Project) to partially finance the public infrastructure within Parcels C (“Aurora”), and G (“Alba” and, together with Aurora, “Assessment Area One”), which is referred to herein as the “Assessment Area One Project”). The Assessment Area One Project, consisting of onsite roads, storm drainage, water and sewer facilities, has been completed.

On August 11, 2026, the District issued its $3,515,000 Special Assessment Bonds, Series 2026 (Assessment Area Two Project) to partially finance the public infrastructure within Parcel B (“Centro” or herein referred to as “Assessment Area Two”) (the “Assessment Area Two Project”). As of the date of this report, construction of the Assessment Area Two Project, consisting of onsite roads, storm drainage, water and sewer facilities for Centro, is substantially complete, with water and sewer facilities completed, and roadways and storm drainage improvements completed to approximately 90%.

The intent of this Second Supplemental Engineer’s Report is to update the portion of the Master Engineer’s Report related to Assessment Area Three, and to describe the current composition of the lands within Assessment Area Three, as well as to describe the herein defined Assessment Area Three Project that will support the development within Assessment Area Three, list the intended future ownership of the Assessment Area Three Project for operation and maintenance purposes, give the status of permits, the estimated schedule of construction, and the estimated cost of the Assessment Area Three Project, which consists of onsite and offsite roadway improvements, stormwater drainage, and water and sewer facilities (together, the “Assessment Area Three Project”).

Composition of the Land Within Assessment Area Three.
The tentative plat for Assessment Area Three was approved by the Department of Regulatory and Economic Resources of Miami-Dade County on April 19, 2024, and was assigned Tentative Plat number T-24959.

Assessment Area Three consists of 40.571 acres and is planned to contain 232 single family home residential lots, which is described in more detail in a separate supplemental assessment methodology report prepared by Special District Services, Inc.

In addition to the residential lots, the land within the plat limits contains road rights of ways to be dedicated to the City of Florida City, seven landscape buffer tracts, two USPS mail delivery tracts, and one public park intended to be transferred to the County or the City upon completion. The Assessment Area Three Project will be constructed within public road rights of way located inside or adjacent to the plat, as well as within the landscaping tracts, the mail delivery tracts, and the public park.

Upon recording the plat, permanent easements will be granted to the District by Audax Land Flora, LLC (”Developer” and current “Landowner”) as indicated in Table 1.

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

Prior to the recording of the plat, and for the purpose of the District to finance, construct or acquire completed infrastructure from the Developer, a temporary construction easement may be granted to the District over the entire plat land.

Table 1: Parcels D, F, E, "Flora" Composition and Intended Future Ownership and Easements	

Tract ID	

Use	

Square Footage	

Acreage	

HOA Tract Ownership	CDD
Road, Drainage, Water & Sewer Easement	
Florida City Ownership	

County Ownership	

Private	
A	Landscape buffers	13,572	0.312	X	X				
B	Landscape buffers	5,181	0.119	X	X				
C	Landscape buffers	1,001	0.023	X	X				
D	Landscape buffers	1,301	0.030	X	X				
E	(USPS) Mail delivery	2,088	0.048	X	X				
F	Public Park	326,263	7.490				X		
G	(USPS) Mail delivery	2,088	0.048	X	X				
H	Landscape buffers	1,301	0.030	X	X				
I	Landscape buffers	19,498	0.448	X	X				
J	Landscape buffers	1,020	0.023	X	X				
Lots	232 Single Family Homes	897,172	20.596					X	
R/W	Onsite Public Roads	496,792	11.405			X			
Total	1,767,277	40.571						

Description of the Assessment Area Three Project.

The Assessment Area Three Project, as described in this Second Supplemental Engineer’s Report, consists of roadway improvements, stormwater management, drainage, and water and sanitary sewer improvements that will give service and support to the development located within the boundaries of Assessment Area Three. Such proposed public infrastructure, as outlined herein, is necessary for the functional development of the lands within Assessment Area Three, and provides a direct and special benefit to the assessable lots within such lands. [already defined above] All such public infrastructure will be constructed on land subject to a perpetual easement or easements in favor of the District or in land that belongs to other units of government.

Onsite Roadway Improvements.

The onsite roadway improvements to be partially financed or acquired by the District comprise the construction of roads in platted public road rights of way dedicated to other units of government or subject to a temporary easement granted to the CDD for that purpose. The onsite roadway improvements will be constructed in accordance with County-approved paving, grading and drainage plans for Florida Subdivision prepared by MIRASAPE, Inc. as signed and sealed by Pelayo Calante on June 19, 2025.
The District will not finance the cost of any earthwork that involves transportation to, or the spreading or grading on, the private lots.

Offsite Roadway Improvements.

Offsite roadway improvements to be partially financed by the District consist of the construction of roadway improvements adjacent to the Florida Subdivision in County or City-owned public right of ways for SW 192 Avenue, SW 336 Street and SW 187 Avenue as shown in County and City-

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

approved paving, grading and drainage plans prepared by MIRASAPE, Inc. as signed and sealed by Pelayo Calante on June 19, 2025.

Stormwater Management and Drainage Facilities.

The District will partially fund the construction or the acquisition of completed stormwater drainage facilities that support the development in Assessment Area Three.

The onsite stormwater management and drainage improvements will be constructed in accordance with County and City-approved paving, grading and drainage plans prepared by MIRASAPE, Inc. for Assessment Area Three as signed and sealed by Pelayo Calante on June 19, 2025.

The Developer or Landowner intends to grant drainage easements to the District as indicated in Table 1 to construct or acquire the drainage improvements mentioned above.

Water Distribution and Sewer Collection Systems.

The estimated construction costs of the water and sewer systems are included in the cost of the Assessment Area Three Project. The systems extend from the point of connection with City of Florida City facilities to the property lines of the residential lots.

The Landowner intends to grant the District, at no cost, the necessary easements for accessing these improvements. The District intends to convey to the City the completed water distribution and sewer collection systems for future ownership and maintenance.

The Connection Charges for water and sewer are included in the estimated costs of the public infrastructure improvements. The Developer intends to advance the funds to pay for the connection charges on behalf of the District.

The onsite and offsite water and sewer improvements will be constructed in accordance with County and-City-approved water and sewer plans prepared by MIRASAPE, Inc. as signed and sealed by Pelayo Calante on June 20, 2024.

Ownership and Maintenance.
The District will partially finance the acquisition and/or construction of the Assessment Area Three Project. It will then transfer certain of the improvements to the following agencies for ownership and maintenance:

Table 2	
Description	Future Ownership	Future Maintenance	
Onsite Road Improvements in Platted Public Rights of Way.	City of Florida City	City of Florida City	
Offsite Road Improvements in Adjacent Public Rights of Way.	Miami-Dade County	Miami-Dade County	
Onsite Stormwater Drainage Systems in Public Rights of Way	City of Florida City	City of Florida City	
Onsite Stormwater Drainage Systems in the Public Park	Miami-Dade County	Miami-Dade County	
Onsite Storm Drainage Systems in Landscape Tracts	District	District	
Water Distribution and Sanitary Sewer Systems	City of Florida City	City of Florida City	

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

Permitting Status.
Table 3 reflects the permitting status of the Assessment Area Three Project.

Table 3	
Permit	Agency	In Process	Approved	Date	
Paving and Drainage Design Section	County		X	August 5, 2025	
Environmentally Endangered Lands Section	County		X	September 8, 2025	
Pollution Remediation Section	County		X	August 21, 2025	
Traffic Engineering Division	County		X	August 4, 2025	
Highway Division – Roadway	County		X	August 4, 2025	
Stormwater Drainage Design Section	County		X	August 4, 2025	
Water Control Section	County		X	August 21, 2025	
Tree & Forest Resources Section	County		X	August 23, 2025	
Tentative Plat for Assessment Area Three (T-24959)	County		X	April 19, 2024	
Water Distribution System	Dept. of Health		X	Dec. 18 and 19, 2024	
Water Distribution System	County RER-DERM		X	June 26, 2024	
Water Distribution System	City of FL. City		X	June 24, 2024	
Sewerage Facilities	County		X	Sep 17 and Nov 7, 2024	
Sewer Collection System	City of FL. City		X	June 24, 2024	

Estimated Schedule of Construction.

Table 4	
	Begin Date (Quarter/Year)	End Date (Quarter/Year)	
Roadway Improvements.	Q4/2026	Q4/2028	
Stormwater Management and Drainage Facilities	Q3/2026	Q1/2028	
Water Distribution System	Q3/2026	Q1/2028	
Sewer Collection System	Q4/2026	Q1/2028	

Estimate of the Florida Subdivision Public Infrastructure Costs.
Table 5 is a summary of the estimated costs of the Assessment Area Three Project. Refer to the Appendix for details.

Table 5	
Infrastructure Component (1)	Total ($)	
Roadway Improvements	6,768,000	
Stormwater Management and Drainage Facilities	2,746,000	
Water Distribution System (2)	1,554,000	
Sewer Collection System (3)	2,306,000	
Total	13,374,000	
(1)	Rounded Up to Nearest $1,000.
(2)	Includes Water connection Fees for 232 Single Family Home Residential Units.
(3)	Includes Sewer connection Fees for 232 Single Family Home Residential Units.

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

Engineer's Certification.
It is our opinion that the proposed improvements constituting the Assessment Area Three Project and their estimated costs set forth herein are fair and reasonable, and that the landowners and residents that will live or own residential units in Assessment Area Three will receive a direct and special benefit equal to or greater than the cost of such improvements, and that the general public will also receive incidental benefits. We believe that the improvements comprised of the Assessment Area Three Project can be permitted, constructed, and installed at the costs described in this Second Supplemental Engineer’s Report. The District will pay the actual cost or fair market value of the infrastructure, whichever is less.

I hereby certify that the foregoing is a true and correct copy of the Second Supplemental Engineer's Report for the Keys Edge Community Development District.

Juan R. Alvarez, PE
Florida Registration No. 38522 Alvarez Engineers, Inc.
August 12, 2026
Signed and Sealed August 18, 2026.

This item has been digitally signed and sealed by Juan R. Alvarez, PE on the date adjacent to the seal.

Signature must be verified on any electronic copies.

08/12/2026 Revised 08/18/2026. Revisions Italicized.	Alvarez Engineers, Inc.

APPENDIX

FLORA SUBDIVISION
"Assessment Area Three"

EXHIBIT 1 - DEVELOPMENT MASTER PLAN

ALVAREZ ENGINEERS, INC.

Summary of Keys Edge CDD, Flora Subdivision
Estimated Construction Costs and Schedule of Construction	
Description	
Estimated Costs (1)
($)	Estimated Construction Schedule (Quarter/Year)	
Infrastructure Component		Begin	End	Remarks	
Roadway Improvements	6,768,000				
Stormwater Management and Drainage Facilities	2,746,000				
Water Distribution System (2)	1,554,000				
Sewer Collection System (3)	2,306,000				
TOTAL	13,374,000				

(1) Rounded up to the nearest $1000.00	
(2) Includes Water Connection Fees for 232 Sigle Family Home Residential Units.	
(3) Includes Sanitary Sewer Connection Fees for 232 Sigle Family Home Residential Units.	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
EARTHWORK (PHASE 1-ONSITE):	
1	MOBILIZATION	1	LS	$15,000.00	28.11	71.89	4,216.59	10,783.41	15,000.00	
2	TREE REMOVAL	1	LS	$25,000.00	28.11	71.89	7,027.65	17,972.35	25,000.00	
3	CONTAMINANT MITIGATION	1	LS	$992,890.60	28.11	71.89	279,107.41	713,783.19	992,890.60	
4	CLEAR & GRUB (6")	11,315	CY	$5.00	28.11	71.89	15,903.57	40,671.43	56,575.00	
5	IMPORT, SPREAD & COMPACT FILL MATERIAL (BP - 2.9')	47,100	TN	$26.80	28.11	71.89	354,834.36	907,445.64	1,262,280.00	
6	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE - 0.8')	21,650	TN	$26.80	28.11	71.89	163,103.27	417,116.73	580,220.00	
7	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE - 1.0')	15,049	TN	$26.80	28.11	71.89	113,374.58	289,941.67	403,316.25	
8	LOAD, HAUL & SPREAD FILL MATERIAL (STOCKPILE - LANDSCAPE)	11,100	CY	$6.00	28.11	71.89	18,721.65	47,878.35	66,600.00	
9	LOAD, HAUL & DISPOSE UNSUITABLE MATERIAL	215	CY	$12.00	28.11	71.89	725.25	1,854.75	2,580.00	
10	GRADE BERM	500	SY	$3.00	100.00	-	1,500.00	-	1,500.00	
11	GRADE SLOPE (SWALE)	745	SY	$3.00	100.00	-	2,235.00	-	2,235.00	
12	FINE GRADE BUILDING PAD	29,090	SY	$1.75	-	100.00	-	50,907.50	50,907.50	
13	SURVEYING (15.5 AC)	1	LS	$45,000.00	28.11	71.89	12,649.77	32,350.23	45,000.00	
Sub-total EARTHWORK (PHASE 1- ONSITE):	973,399.09	2,530,705.26	3,504,104.35	
EARTHWORK (PHASE 1- OFFSITE) (SW 187 AVE)	
1	CLEAR & GRUB (6")	485	CY	$10.00	100.00	-	4,850.00	-	4,850.00	
2	CUT, LOAD, HAUL & SPREAD FILL MATERIAL (SUBBASE)	175	CY	$18.00	100.00	-	3,150.00	-	3,150.00	
3	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE)	290	TN	$26.80	100.00	-	7,772.00	-	7,772.00	
4	RECLAIM SUBBASE	90	SY	$35.00	100.00	-	3,150.00	-	3,150.00	
5	LOAD, HAUL & SPREAD LANDSCAPE FILL (PH 1 OFFSITE - PARK)	365	CY	$12.00	100.00	-	4,380.00	-	4,380.00	
6	LOAD, HAUL & DISPOSE UNSUITABLE MATERIAL	120	CY	$12.00	100.00	-	1,440.00	-	1,440.00	
7	SURVEYING (0.5 AC)	1	LS	$6,500.00	100.00	-	6,500.00	-	6,500.00	
Sub-total EARTHWORK (PHASE 1- OFFSITE) (SW 187 AVE):	31,242.00	-	31,242.00	
WATER DISTRIBUTION (PHASE 1)	
1	16" X 8" TAPP. SLEEVE W/ 8" TAPP. VALVE	1	EA	$10,956.00	100.00	-	10,956.00	-	10,956.00	
2	12" X 8" TAPP. SLEEVE W/ 8" TAPP. VALVE	1	EA	$8,518.00	100.00	-	8,518.00	-	8,518.00	
3	8" DIP	4,169	LF	$67.40	100.00	-	280,990.60	-	280,990.60	
4	6" DIP	91	LF	$65.00	100.00	-	5,915.00	-	5,915.00	
5	8" TEE	9	EA	$950.00	100.00	-	8,550.00	-	8,550.00	
6	8" X 6" TEE	7	EA	$833.00	100.00	-	5,831.00	-	5,831.00	
7	8" PLUG W/ 2" F.V.O	3	EA	$1,562.00	100.00	-	4,686.00	-	4,686.00	
8	8" GATE VALVE	18	EA	$3,637.00	100.00	-	65,466.00	-	65,466.00	
9	6" GATE VALVE	7	EA	$2,338.00	100.00	-	16,366.00	-	16,366.00	
10	1" SINGLE WATER SERVICE W/ 8" SADDLE (WS 2.10, SH. 1/3)	7	EA	$1,836.00	100.00	-	12,852.00	-	12,852.00	
11	1" DOUBLE WATER SERVICE W/ 8" SADDLE (WS 2.12, SH. 2/2)	56	EA	$1,983.00	100.00	-	111,048.00	-	111,048.00	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
12	FIRE HYDRANT ASSEMBLY	7	EA	$6,165.00	100.00	-	43,155.00	-	43,155.00	
13	8" JOINT RESTRAINTS	65	EA	$363.00	100.00	-	23,595.00	-	23,595.00	
14	ASPHALT SAWCUT	52	LF	$10.00	100.00	-	520.00	-	520.00	
15	PAVEMENT RESTORATION	10	SY	$100.00	100.00	-	1,000.00	-	1,000.00	
16	CHLORINATING & TESTING	4,260	LF	$2.75	100.00	-	11,715.00	-	11,715.00	
17	DENSITIES	15	EA	$120.00	100.00	-	1,800.00	-	1,800.00	
18	MAINTENANCE OF TRAFFIC	1	EA	$1,500.00	100.00	-	1,500.00	-	1,500.00	
19	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
20	SURVEYING & AS-BUILTS	1	LS	$24,000.00	100.00	-	24,000.00	-	24,000.00	
21	H.R.S	1	LS	$1,800.00	100.00	-	1,800.00	-	1,800.00	
22	MAINTENANCE BOND	1	LS	$7,500.00	100.00	-	7,500.00	-	7,500.00	
Sub-total WATER DISTRIBUTION (PHASE 1)	649,263.60	-	649,263.60	
SANITARY SEWER (PHASE 1)	
1	CORE DRILL EXIST. MH & CONNECT 8" PVC SDR-26 SM (13' CUT)	1	EA	$3,175.50	100.00	-	3,175.50	-	3,175.50	
2	REMOVE & DISPOSE EXIST. 8" PVC STUB-OUT (13' CUT)	47	LF	$20.00	100.00	-	940.00	-	940.00	
3	8" PVC SDR-26 (0' - 6')	945	LF	$39.77	100.00	-	37,582.65	-	37,582.65	
4	8" PVC SDR-26 (6' - 8')	1,624	LF	$43.77	100.00	-	71,082.48	-	71,082.48	
5	8" PVC SDR-26 (8' - 10')	1,173	LF	$55.77	100.00	-	65,418.21	-	65,418.21	
6	8" PVC SDR-26 (12' - 14')	53	LF	$75.77	100.00	-	4,015.81	-	4,015.81	
7	MH (48" RD) (#310 A SASE) (0' - 6')	9	EA	$3,340.00	100.00	-	30,060.00	-	30,060.00	
8	MH (48" RD) (#310 A SASE) (6' - 8')	4	EA	$3,574.00	100.00	-	14,296.00	-	14,296.00	
9	MH (48" RD) (#310 A SASE) (8' - 10')	2	EA	$4,306.00	100.00	-	8,612.00	-	8,612.00	
10	DROP MH (48" RD) (#310 A SASE) (12' - 14')	1	EA	$6,014.00	100.00	-	6,014.00	-	6,014.00	
11	6" MH CONNECTION (SDR26)	9	EA	$347.00	100.00	-	3,123.00	-	3,123.00	
12	8" MH CONNECTION (SDR26)	32	EA	$511.00	100.00	-	16,352.00	-	16,352.00	
13	6" SINGLE LATERAL PVC SDR-26 (SS 1.0 SH. 1/2)	80	EA	$1,866.00	100.00	-	149,280.00	-	149,280.00	
14	6" SINGLE LATERAL PVC SDR-26 (SS 1.0 SH. 2/2)	39	EA	$1,866.00	100.00	-	72,774.00	-	72,774.00	
15	6" CLEANOUT PVC SDR-26 (#7621) (*)	119	EA	$713.00	100.00	-	84,847.00	-	84,847.00	
16	MH INVERT & RING	17	EA	$300.00	100.00	-	5,100.00	-	5,100.00	
17	GRAVEL #57	3,380	TN	$36.75	100.00	-	124,215.00	-	124,215.00	
18	CLEANING & TESTING	3,795	LF	$2.75	100.00	-	10,436.25	-	10,436.25	
19	DENSITIES	13	EA	$60.00	100.00	-	780.00	-	780.00	
20	ASPHALT SAWCUT	90	LF	$5.00	100.00	-	450.00	-	450.00	
21	PAVEMENT RESTORATION	19	SY	$60.00	100.00	-	1,140.00	-	1,140.00	
22	CHIMNEY SEAL, INSERT, PAINT & RAMNEK	1	LS	$20,600.00	100.00	-	20,600.00	-	20,600.00	
23	MISCELLANEOUS	1	LS	$2,600.00	100.00	-	2,600.00	-	2,600.00	
24	SURVEYING & AS-BUILTS	1	LS	$35,000.00	100.00	-	35,000.00	-	35,000.00	
25	MAINTENANCE OF TRAFFIC	1	LS	$10,000.00	100.00	-	10,000.00	-	10,000.00	
26	MAINTENANCE BOND	1	LS	$18,500.00	100.00	-	18,500.00	-	18,500.00	
Sub-total SANITARY SEWER (PHASE 1)	796,393.90	-	796,393.90	
STORM DRAINAGE (PHASE 1)	
1	EXFILTRATION TRENCH w/24" PP (4' W X 15' H)	708	LF	$302.22	100.00	-	213,974.59	-	213,974.59	
2	EXFILTRATION TRENCH w/18" HDPE (4' W X 15' H)	1,612	LF	$254.37	100.00	-	410,050.89	-	410,050.89	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
3	24" PP	520	LF	$90.23	100.00	-	46,919.60	-	46,919.60	
4	18" HDPE	356	LF	$58.18	100.00	-	20,712.08	-	20,712.08	
5	24" END CAP - PP	8	EA	$1,830.00	100.00	-	14,640.00	-	14,640.00	
6	18" END CAP - HDPE	52	EA	$415.00	100.00	-	21,580.00	-	21,580.00	
7	ROCK FILLED TRENCH DRAIN (3' W X 10' H)	100	LF	$142.56	100.00	-	14,255.70	-	14,255.70	
8	CATCH BASIN (48" RD) (#4700-6223)	12	EA	$3,949.00	100.00	-	47,388.00	-	47,388.00	
9	CATCH BASIN (48" RD) (P-5)(#5160-6310)	1	EA	$4,844.00	100.00	-	4,844.00	-	4,844.00	
10	CATCH BASIN (48" RD) (P-6)(#5160-6310)	11	EA	$5,601.00	100.00	-	61,611.00	-	61,611.00	
11	CATCH BASIN (48" RD) (#5105-6)	1	EA	$4,068.00	100.00	-	4,068.00	-	4,068.00	
12	CATCH BASIN (60" RD) (#4700-6223)	24	EA	$4,951.00	100.00	-	118,824.00	-	118,824.00	
13	BAFFLES	76	EA	$461.00	100.00	-	35,036.00	-	35,036.00	
14	CLEANING STRUCTURES	49	EA	$850.00	100.00	-	41,650.00	-	41,650.00	
15	RIMS AND GRATES TO GRADE	49	EA	$380.00	100.00	-	18,620.00	-	18,620.00	
16	DENSITIES	12	EA	$60.00	100.00	-	720.00	-	720.00	
17	MAINTENANCE OF TRAFFIC (OFFSITE)	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
18	MISCELLANEOUS	1	LS	$2,500.00	100.00	-	2,500.00	-	2,500.00	
19	SURVEYING	1	LS	$40,000.00	100.00	-	40,000.00	-	40,000.00	
Sub-total STORM DRAINAGE (PHASE 1)	1,120,893.86	-	1,120,893.86	
PAVING AND GRADING (PHASE 1 - ONSITE)	
1	GRADE SUBGRADE	12,355	SY	$2.00	100.00	-	24,710.00	-	24,710.00	
2	8" BASEROCK	11,170	SY	$21.50	100.00	-	240,155.00	-	240,155.00	
3	1" A.C.S.C. (FIRST LIFT - SP9.5)	9,905	SY	$13.75	100.00	-	136,193.75	-	136,193.75	
4	TYPE D CURB (6" x 18")	465	LF	$18.25	100.00	-	8,486.25	-	8,486.25	
5	TYPE F CURB & GUTTER	2,520	LF	$24.00	100.00	-	60,480.00	-	60,480.00	
6	VALLEY GUTTER (2')	5,055	LF	$22.60	100.00	-	114,243.00	-	114,243.00	
7	CONCRETE SIDEWALK (6")	365	SF	$10.15	100.00	-	3,704.75	-	3,704.75	
8	CONCRETE SIDEWALK (4")	14,160	SF	$9.00	100.00	-	127,440.00	-	127,440.00	
9	ADA TACTILE SURFACES	380	SF	$42.00	100.00	-	15,960.00	-	15,960.00	
10	CONCRETE FLUME (6")	150	SF	$18.20	100.00	-	2,730.00	-	2,730.00	
11	CONCRETE APRON (6") (INLET CONC. COLLAR)	2,120	SF	$6.50	100.00	-	13,780.00	-	13,780.00	
12	GUARDRAIL	24	LF	$142.00	100.00	-	3,408.00	-	3,408.00	
13	GUARDRAIL END PIECES	2	EA	$300.00	100.00	-	600.00	-	600.00	
14	DENSITIES	27	EA	$110.00	100.00	-	2,970.00	-	2,970.00	
15	SIGNING & STRIPING	1	LS	$39,500.00	100.00	-	39,500.00	-	39,500.00	
16	MAINTENANCE OF TRAFFIC	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
17	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
18	SURVEYING	1	LS	$45,000.00	100.00	-	45,000.00	-	45,000.00	
Sub-total PAVING AND GRADING (PHASE 1 - ONSITE)	844,360.75	-	844,360.75	
PAVING AND GRADING (PHASE 1 - OFFSITE)	
1	GRADE SUBGRADE	1,515	SY	$3.50	100.00	-	5,302.50	-	5,302.50	
2	8" BASEROCK	1,325	SY	$24.50	100.00	-	32,462.50	-	32,462.50	
3	2" A.C.S.C. (FIRST LIFT - SP12.5)	865	SY	$32.24	100.00	-	27,887.60	-	27,887.60	
4	1" A.C.S.C. (FINAL LIFT - FC9.5)	865	SY	$17.99	100.00	-	15,561.35	-	15,561.35	
5	2.5" A.C.S.C. (FIRST LIFT - SP12.5) (SW 187 AVE)	272	SY	$35.24	100.00	-	9,585.28	-	9,585.28	
6	1" A.C.S.C. (FINAL LIFT - FC9.5) (SW 187 AVE)	272	SY	$16.99	100.00	-	4,621.28	-	4,621.28	
7	MILL & PAVE (1" FC9.5)	1,855	SY	$22.99	100.00	-	42,646.45	-	42,646.45	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
8	TYPE F CURB & GUTTER	645	LF	$25.00	100.00	-	16,125.00	-	16,125.00	
9	ASPHALT SAWCUT	1,450	LF	$7.00	100.00	-	10,150.00	-	10,150.00	
10	CONCRETE SIDEWALK (4")	3,940	SF	$11.50	100.00	-	45,310.00	-	45,310.00	
11	ADA TACTILE SURFACES	75	SF	$42.00	100.00	-	3,150.00	-	3,150.00	
12	DENSITIES	4	EA	$110.00	100.00	-	440.00	-	440.00	
13	SIGNING & STRIPING	1	LS	$35,200.00	100.00	-	35,200.00	-	35,200.00	
14	MAINTENANCE OF TRAFFIC	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
15	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
16	SURVEYING	1	LS	$12,500.00	100.00	-	12,500.00	-	12,500.00	
Sub-total PAVING AND GRADING (PHASE 1 - OFF SITE)	265,941.96	-	265,941.96	
STORM WATER POLLUTION PROTECTION PLAN (PHASE 1)	
1	SILT FENCE	4,000	LF	$4.50	100.00	-	18,000.00	-	18,000.00	
2	FILTER FABRIC AT INLETS	37	EA	$50.00	100.00	-	1,850.00	-	1,850.00	
3	GRAVEL BAGS AT INLETS	12	EA	$85.00	100.00	-	1,020.00	-	1,020.00	
4	WASH RACK w/ SEDIMENT BASIN	2	EA	$1,250.00	100.00	-	2,500.00	-	2,500.00	
5	GRAVEL ENTRANCE/EXIT	2	EA	$850.00	100.00	-	1,700.00	-	1,700.00	
Sub-total STORM WATER POLLUTION PROCTETION PLAN (PHASE 1)	25,070.00	-	25,070.00	
EARTHWORK (PHASE 2 - ONSITE)	
1	MOBILIZATION	1	LS	$15,000.00	28.11	71.89	4,216.59	10,783.41	15,000.00	
2	TREE REMOVAL	1	LS	$25,000.00	28.11	71.89	7,027.65	17,972.35	25,000.00	
3	CLEAR & GRUB (6")	10,700	CY	$6.00	28.11	71.89	18,047.00	46,153.00	64,200.00	
4	IMPORT, SPREAD & COMPACT FILL MATERIAL (BP - 2.5')	41,625	TN	$26.80	28.11	71.89	313,587.69	801,962.31	1,115,550.00	
5	CUT, LOAD, HAUL & SPREAD FILL MATERIAL (SUBBASE)	25	CY	$18.00	28.11	71.89	126.50	323.50	450.00	
6	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE - 0.5')	16,810	TN	$26.80	28.11	71.89	126,640.46	323,867.54	450,508.00	
7	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE - 1.0')	15,176	TN	$26.80	28.11	71.89	114,331.39	292,388.61	406,720.00	
8	LOAD, HAUL & SPREAD FILL MATERIAL (STOCKPILE - LANDSCAPE)	9,125	CY	$12.00	28.11	71.89	30,781.10	78,718.90	109,500.00	
9	LOAD, HAUL & SPREAD LANDSCAPE FILL (PH2 ONSITE - PARK)	1,575	CY	$12.00	28.11	71.89	5,312.90	13,587.10	18,900.00	
10	GRADE BERM	805	SY	$3.00	100.00	-	2,415.00	-	2,415.00	
11	FINE GRADE BUILDING PAD	27,645	SY	$1.00	-	100.00	-	27,645.00	27,645.00	
12	SURVEYING (14.8 AC)	1	LS	$45,000.00	28.11	71.89	12,649.77	32,350.23	45,000.00	
Sub-total EARTHWORK (PHASE 2 - ONSITE)	635,136.04	1,645,751.96	2,280,888.00	
EARTHWORK (PHASE 2 - OFFSITE) (SW 192 AVE)	
1	CLEAR & GRUB (6")	325	CY	$12.00	100.00	-	3,900.00	-	3,900.00	
2	CUT, LOAD, HAUL & SPREAD FILL MATERIAL (SUBBASE)	220	CY	$12.00	100.00	-	2,640.00	-	2,640.00	
3	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE)	420	TN	$26.80	100.00	-	11,256.00	-	11,256.00	
4	RECLAIM SUBBASE	585	SY	$12.00	100.00	-	7,020.00	-	7,020.00	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
5	LOAD, HAUL & SPREAD LANDSCAPE FILL (PH 2 OFFSITE - PARK)	325	CY	$12.00	100.00	-	3,900.00	-	3,900.00	
6	SURVEYING (0.5 AC)	1	LS	$4,500.00	100.00	-	4,500.00	-	4,500.00	
Sub-total EARTHWORK (PHASE 2 - ONSITE)	33,216.00	-	33,216.00	
WATER DISTRIBUTION (PHASE 2)	
1	REMOVE 12" PLUG w/ 2" F.V.O & CONNECT 12" DIP WM	1	EA	$3,195.00	100.00	-	3,195.00	-	3,195.00	
2	REMOVE 8" PLUG w/ 2" F.V.O & CONNECT 8" DIP WM	1	EA	$2,785.00	100.00	-	2,785.00	-	2,785.00	
3	12" X 8" TAPP. SLEEVE w/ 8" TAPP. VALVE	1	EA	$8,752.00	100.00	-	8,752.00	-	8,752.00	
4	12" X 6" TAPP. SLEEVE w/ 8" TAPP. VALVE	1	EA	$8,401.00	100.00	-	8,401.00	-	8,401.00	
5	12" DIP	623	LF	$105.75	100.00	-	65,882.25	-	65,882.25	
6	8" DIP	3,750	LF	$65.19	100.00	-	244,462.50	-	244,462.50	
7	6" DIP	119	LF	$52.60	100.00	-	6,259.40	-	6,259.40	
8	12" X 8" TEE	1	EA	$1,416.00	100.00	-	1,416.00	-	1,416.00	
9	8" TEE	8	EA	$925.00	100.00	-	7,400.00	-	7,400.00	
10	8" X 6" TEE	7	EA	$819.00	100.00	-	5,733.00	-	5,733.00	
11	8" PLUG w/ 2" F.V.O	1	EA	$2,038.00	100.00	-	2,038.00	-	2,038.00	
12	12" PLUG w/ 2" F.V.O	1	EA	$2,205.00	100.00	-	2,205.00	-	2,205.00	
13	12" GATE VALVE	1	EA	$6,096.00	100.00	-	6,096.00	-	6,096.00	
14	8" GATE VALVE	17	EA	$3,162.00	100.00	-	53,754.00	-	53,754.00	
15	6" GATE VALVE	7	EA	$2,114.00	100.00	-	14,798.00	-	14,798.00	
16	1" SINGLE WATER SERVICE W/ 8" SADDLE (WS 2.10, SH. 1/3)	2	EA	$1,372.00	100.00	-	2,744.00	-	2,744.00	
17	1" SINGLE WATER SERVICE W/ 12" SADDLE (WS 2.10, SH. 1/3)	1	EA	$1,570.00	100.00	-	1,570.00	-	1,570.00	
18	1" DOUBLE WATER SERVICE W/ 8" SADDLE (WS 2.12, SH. 2/2)	56	EA	$1,629.00	100.00	-	91,224.00	-	91,224.00	
19	FIRE HYDRANT ASSEMBLY	8	EA	$5,989.00	100.00	-	47,912.00	-	47,912.00	
20	12" JOINT RESTRAINTS	9	EA	$436.00	100.00	-	3,924.00	-	3,924.00	
21	8" JOINT RESTRAINTS	58	EA	$306.00	100.00	-	17,748.00	-	17,748.00	
22	6" JOINT RESTRAINTS	1	EA	$289.00	100.00	-	289.00	-	289.00	
23	ASPHALT SAWCUT	50	LF	$10.00	100.00	-	500.00	-	500.00	
24	PAVEMENT RESTORATION	12	SY	$100.00	100.00	-	1,200.00	-	1,200.00	
25	CHLORINATING & TESTING	4,492	LF	$2.75	100.00	-	12,353.00	-	12,353.00	
26	DENSITIES	15	EA	$60.00	100.00	-	900.00	-	900.00	
27	MAINTENANCE OF TRAFFIC	1	EA	$750.00	100.00	-	750.00	-	750.00	
28	MISCELLANEOUS	1	LS	$750.00	100.00	-	750.00	-	750.00	
29	SURVEYING & AS-BUILTS	1	LS	$18,000.00	100.00	-	18,000.00	-	18,000.00	
30	H.R.S	1	LS	$1,800.00	100.00	-	1,800.00	-	1,800.00	
31	MAINTENANCE BOND	1	LS	$7,500.00	100.00	-	7,500.00	-	7,500.00	
Sub-total WATER DISTRIBUTION (PHASE 2)	642,341.15	-	642,341.15	
SANITARY SEWER (PHASE 2)	
1	REMOVE 10" PLUG & CONNECT 10" PVC SDR-26 (13' CUT)	1	EA	$2,375.50	100.00	-	2,375.50	-	2,375.50	
2	8" PVC SDR-26 (0' - 6')	934	LF	$39.77	100.00	-	37,145.18	-	37,145.18	
3	8" PVC SDR-26 (6' - 8')	1,710	LF	$39.77	100.00	-	68,006.70	-	68,006.70	
4	8" PVC SDR-26 (8' - 10')	240	LF	$53.77	100.00	-	12,904.80	-	12,904.80	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
5	8" DIP (0' - 6')	100	LF	$115.56	100.00	-	11,556.00	-	11,556.00	
6	10" PVC SDR-26 (8' - 10')	120	LF	$64.86	100.00	-	7,783.20	-	7,783.20	
7	10" PVC SDR-26 (10' - 12')	1,200	LF	$71.86	100.00	-	86,232.00	-	86,232.00	
8	10" DIP (8' - 10')	569	LF	$152.16	100.00	-	86,579.04	-	86,579.04	
9	MH (48" RD) (#310 A SASE) (0' - 6')	8	EA	$3,164.00	100.00	-	25,312.00	-	25,312.00	
10	MH (48" RD) (#310 A SASE) (6' - 8')	4	EA	$3,516.00	100.00	-	14,064.00	-	14,064.00	
11	MH (48" RD) (#310 A SASE) (8' - 10')	4	EA	$3,974.00	100.00	-	15,896.00	-	15,896.00	
12	MH (48" RD) (#310 A SASE) (10' - 12')	2	EA	$4,484.00	100.00	-	8,968.00	-	8,968.00	
13	6" MH CONNECTION (SDR-26)	10	EA	$222.00	100.00	-	2,220.00	-	2,220.00	
14	8" MH CONNECTION (SDR-26)	21	EA	$286.00	100.00	-	6,006.00	-	6,006.00	
15	8" MH CONNECTION (DIP)	1	EA	$1,263.00	100.00	-	1,263.00	-	1,263.00	
16	10" MH CONNECTION (SDR-26)	5	EA	$566.00	100.00	-	2,830.00	-	2,830.00	
17	10" MH CONNECTION (DIP)	6	EA	$1,426.00	100.00	-	8,556.00	-	8,556.00	
18	6" SINGLE LATERAL PVC SDR-26 (SS 1.0 SH. 1/2)	91	EA	$1,416.00	100.00	-	128,856.00	-	128,856.00	
19	6" SINGLE LATERAL PVC SDR-26 (SS 1.0 SH. 2/2)	24	EA	$1,466.00	100.00	-	35,184.00	-	35,184.00	
20	6" CLEANOUT PVC SDR-26 (#7621)	115	EA	$863.00	100.00	-	99,245.00	-	99,245.00	
21	MH INVERT & RING	18	EA	$175.00	100.00	-	3,150.00	-	3,150.00	
22	GRAVEL #57	3,988	TN	$32.25	100.00	-	128,613.00	-	128,613.00	
23	ASPHALT SAWCUT	1,335	LF	$5.00	100.00	-	6,675.00	-	6,675.00	
24	PAVEMENT RESTORATION	375	SY	$40.00	100.00	-	15,000.00	-	15,000.00	
25	MILL & PAVE (1" FC 9.5)	3,400	SY	$21.55	100.00	-	73,270.00	-	73,270.00	
26	CLEANING & TESTING	4,873	LF	$2.75	100.00	-	13,400.75	-	13,400.75	
27	DENSITIES	17	EA	$60.00	100.00	-	1,020.00	-	1,020.00	
28	CHIMNEY SEAL, INSERT, PAINT & RAMNEK	1	LS	$19,800.00	100.00	-	19,800.00	-	19,800.00	
29	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
30	SURVEYING & AS-BUILTS	1	LS	$35,000.00	100.00	-	35,000.00	-	35,000.00	
31	MAINTENANCE OF TRAFFIC	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
32	MAINTENANCE BOND	1	LS	$11,500.00	100.00	-	11,500.00	-	11,500.00	
Sub-total SANITARY SEWER (PHASE 2)	971,411.17	-	971,411.17	
STORM DRAINAGE (PHASE 2)	
1	XFILTRATION TRENCH w/24" PP (4' W X 15' H)	100	LF	$287.34	100.00	-	28,734.40	-	28,734.40	
2	EXFILTRATION TRENCH w/18" HDPE (4' W X 15' H)	1,570	LF	$255.03	100.00	-	400,403.38	-	400,403.38	
3	24" PP	8	LF	$171.29	100.00	-	1,370.32	-	1,370.32	
4	18" HDPE	320	LF	$58.01	100.00	-	18,563.20	-	18,563.20	
5	24" END CAP - PP	2	EA	$1,830.00	100.00	-	3,660.00	-	3,660.00	
6	18" END CAP - HDPE	52	EA	$420.00	100.00	-	21,840.00	-	21,840.00	
7	ROCK FILLED TRENCH DRAIN (3' W X 10' H)	100	LF	$102.56	100.00	-	10,255.70	-	10,255.70	
8	CATCH BASIN (48" RD) (#4700-6223)	13	EA	$3,920.00	100.00	-	50,960.00	-	50,960.00	
9	CATCH BASIN (48" RD) (P-5)(#5160-6310)	1	EA	$5,026.00	100.00	-	5,026.00	-	5,026.00	
10	CATCH BASIN (48" RD) (P-6)(#5160-6310)	1	EA	$5,495.00	100.00	-	5,495.00	-	5,495.00	
11	CATCH BASIN (60" RD) (#4700-6223)	23	EA	$4,969.00	100.00	-	114,287.00	-	114,287.00	
12	BAFFLES	60	EA	$461.00	100.00	-	27,660.00	-	27,660.00	
13	CLEANING STRUCTURES	38	EA	$1,150.00	100.00	-	43,700.00	-	43,700.00	
14	RIMS AND GRATES TO GRADE	38	EA	$380.00	100.00	-	14,440.00	-	14,440.00	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
15	DENSITIES	8	EA	$60.00	100.00	-	480.00	-	480.00	
16	MAINTENANCE OF TRAFFIC (OFFSITE)	1	LS	$6,500.00	100.00	-	6,500.00	-	6,500.00	
17	MISCELLANEOUS	1	LS	$2,500.00	100.00	-	2,500.00	-	2,500.00	
18	SURVEYING	1	LS	$40,000.00	100.00	-	40,000.00	-	40,000.00	
Sub-total STORM DRAINAGE (PHASE 2)	795,875.00	-	795,875.00	
PAVING & GRADING (PHASE 2 - ONSITE)	
1	GRADE SUBGRADE	11,525	SY	$2.50	100.00	-	28,812.50	-	28,812.50	
2	8" BASEROCK	10,385	SY	$21.50	100.00	-	223,277.50	-	223,277.50	
3	1" A.C.S.C. (FIRST LIFT - SP9.5)	9,145	SY	$13.80	100.00	-	126,201.00	-	126,201.00	
4	TYPE D CURB (6" x 18")	140	LF	$18.25	100.00	-	2,555.00	-	2,555.00	
5	TYPE F CURB & GUTTER	2,210	LF	$25.00	100.00	-	55,250.00	-	55,250.00	
6	VALLEY GUTTER (2')	4,920	LF	$23.60	100.00	-	116,112.00	-	116,112.00	
7	CONCRETE SIDEWALK (6")	450	SF	$11.15	100.00	-	5,017.50	-	5,017.50	
8	CONCRETE SIDEWALK (4")	13,740	SF	$10.50	100.00	-	144,270.00	-	144,270.00	
9	ADA TACTILE SURFACES	260	SF	$42.00	100.00	-	10,920.00	-	10,920.00	
10	CONCRETE FLUME (6")	145	SF	$18.20	100.00	-	2,639.00	-	2,639.00	
11	CONCRETE APRON (6") (INLET CONC. COLLAR)	2,190	SF	$11.50	100.00	-	25,185.00	-	25,185.00	
12	GUARDRAIL	24	LF	$94.00	100.00	-	2,256.00	-	2,256.00	
13	GUARDRAIL END PIECES	2	EA	$300.00	100.00	-	600.00	-	600.00	
14	DENSITIES	25	EA	$110.00	100.00	-	2,750.00	-	2,750.00	
15	SIGNING & STRIPING	1	LS	$49,900.00	100.00	-	49,900.00	-	49,900.00	
16	MAINTENANCE OF TRAFFIC	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
17	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
18	SURVEYING	1	LS	$45,000.00	100.00	-	45,000.00	-	45,000.00	
Sub-total PAVING & GRADING (PHASE 2 - ONSITE)	845,745.50	-	845,745.50	
PAVING & GRADING (PHASE 2 - OFFSITE)	
1	GRADE SUBGRADE	1,765	SY	$1.50	100.00	-	2,647.50	-	2,647.50	
2	8" BASEROCK	1,670	SY	$21.50	100.00	-	35,905.00	-	35,905.00	
3	2" A.C.S.C. (FIRST LIFT - SP12.5)	1,610	SY	$31.26	100.00	-	50,328.60	-	50,328.60	
4	1" A.C.S.C. (FINAL LIFT - FC9.5)	1,610	SY	$18.01	100.00	-	28,996.10	-	28,996.10	
5	MILL & PAVE (1" FC9.5)	790	SY	$24.01	100.00	-	18,967.90	-	18,967.90	
6	TYPE F CURB & GUTTER	580	LF	$25.00	100.00	-	14,500.00	-	14,500.00	
7	ASPHALT SAWCUT	675	LF	$7.00	100.00	-	4,725.00	-	4,725.00	
8	CONCRETE SAWCUT	6	LF	$2.00	100.00	-	12.00	-	12.00	
9	CONCRETE SIDEWALK (4")	3,330	SF	$10.50	100.00	-	34,965.00	-	34,965.00	
10	ADA TACTILE SURFACES	25	SF	$44.00	100.00	-	1,100.00	-	1,100.00	
11	REMOVE & DISPOSE ASPHALT (590 SY)	34	CY	$27.00	100.00	-	918.00	-	918.00	
12	DENSITIES	5	EA	$112.00	100.00	-	560.00	-	560.00	
13	SIGNING & STRIPING	1	LS	$23,100.00	100.00	-	23,100.00	-	23,100.00	
14	MAINTENANCE OF TRAFFIC	1	LS	$16,000.00	100.00	-	16,000.00	-	16,000.00	
15	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
16	SURVEYING	1	LS	$12,500.00	100.00	-	12,500.00	-	12,500.00	
Sub-total PAVING & GRADING (PHASE 2 - OFFSITE)	246,725.10	-	246,725.10	
STORM WATER POLLUTION PROTECTION PLAN (PHASE 2)	
1	SILT FENCE	3,450	LF	$4.50	100.00	-	15,525.00	-	15,525.00	
2	FILTER FABRIC AT INLETS	36	EA	$50.00	100.00	-	1,800.00	-	1,800.00	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
3	GRAVEL BAGS AT INLETS	2	EA	$85.00	100.00	-	170.00	-	170.00	
4	WASH RACK w/ SEDIMENT BASIN	2	EA	$1,250.00	100.00	-	2,500.00	-	2,500.00	
5	GRAVEL ENTRANCE/EXIT	2	EA	$850.00	100.00	-	1,700.00	-	1,700.00	
Sub-total PAVING & GRADING (PHASE 2 - OFFSITE)	21,695.00	-	21,695.00	
EARTHWORK (PHASE 2 - PARK)	
1	CLEAR & GRUB (6")	1,680	CY	$12.00	100.00	-	20,160.00	-	20,160.00	
2	IMPORT, SPREAD & COMPACT FILL MATERIAL (BP - 2.0')	250	TN	$41.80	100.00	-	10,450.00	-	10,450.00	
3	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE - 0.5')	4,100	TN	$41.80	100.00	-	171,380.00	-	171,380.00	
4	CUT, LOAD, HAUL & SPREAD FILL MATERIAL (LANDSCAPE)	150	CY	$12.00	100.00	-	1,800.00	-	1,800.00	
5	GRADE SLOPE	6,020	SY	$3.00	100.00	-	18,060.00	-	18,060.00	
6	FINE GRADE BUILDING PAD	205	SY	$1.25	100.00	-	256.25	-	256.25	
7	SURVEYING (7.5 AC)	1	LS	$8,500.00	100.00	-	8,500.00	-	8,500.00	
Sub-total EARTHWORK (PHASE 2 - PARK)	230,606.25	-	230,606.25	
STORM DRAINAGE (PHASE 2 - PARK)	
1	EXFILTRATION TRENCH w/18" HDPE (4' W X 15' H)	348	LF	$265.20	100.00	-	92,290.99	-	92,290.99	
2	EXFILTRATION TRENCH w/12" HDPE (3' W X 5' H)	76	LF	$166.23	100.00	-	12,633.10	-	12,633.10	
3	6" TRENCH DRAIN (Z886)	480	LF	$172.20	100.00	-	82,656.00	-	82,656.00	
4	6" BASEROCK (TRENCH DRAIN)	50	SY	$200.00	100.00	-	10,000.00	-	10,000.00	
5	18" HDPE	53	LF	$67.09	100.00	-	3,555.77	-	3,555.77	
6	12" HDPE w/ FITTINGS	56	LF	$71.27	100.00	-	3,991.12	-	3,991.12	
7	6" HDPE	218	LF	$38.47	100.00	-	8,386.46	-	8,386.46	
8	12" END CAP HDPE	2	EA	$337.00	100.00	-	674.00	-	674.00	
9	18" END CAP - HDPE	9	EA	$419.65	100.00	-	3,776.85	-	3,776.85	
10	ROCK FILLED TRENCH DRAIN (3' W X 10' H)	325	LF	$266.36	100.00	-	86,566.03	-	86,566.03	
11	CATCH BASIN (48" RD) (#4700-6223)	6	EA	$3,949.00	100.00	-	23,694.00	-	23,694.00	
12	CATCH BASIN (60" RD) (#4700-6223)	2	EA	$5,273.00	100.00	-	10,546.00	-	10,546.00	
13	CONCRETE COLLAR (INLETS)	6	EA	$750.00	100.00	-	4,500.00	-	4,500.00	
14	BAFFLES	11	EA	$461.00	100.00	-	5,071.00	-	5,071.00	
15	CLEANING STRUCTURES	8	EA	$1,150.00	100.00	-	9,200.00	-	9,200.00	
16	RIMS AND GRATES TO GRADE	8	EA	$480.00	100.00	-	3,840.00	-	3,840.00	
17	DENSITIES	5	EA	$60.00	100.00	-	300.00	-	300.00	
18	MISCELLANEOUS	1	LS	$2,500.00	100.00	-	2,500.00	-	2,500.00	
19	SURVEYING	1	LS	$40,000.00	100.00	-	40,000.00	-	40,000.00	
Sub-total EARTHWORK (PHASE 2 - PARK)	404,181.32	-	404,181.32	
PAVING & GRADING (PHASE 2 - PARK)	
1	GRADE SUBGRADE	3,400	SY	$3.00	100.00	-	10,200.00	-	10,200.00	
2	8" BASEROCK	3,135	SY	$21.50	100.00	-	67,402.50	-	67,402.50	
3	3/4" A.C.S.C. (FIRST LIFT - SP9.5) (PARKING)	2,905	SY	$18.02	100.00	-	52,348.10	-	52,348.10	
4	TYPE D CURB (6" x 18")	560	LF	$19.25	100.00	-	10,780.00	-	10,780.00	
5	CONCRETE SIDEWALK (6")	965	SF	$11.15	100.00	-	10,759.75	-	10,759.75	
6	CONCRETE SIDEWALK (4")	36,925	SF	$10.50	100.00	-	387,712.50	-	387,712.50	
7	CONCRETE APRON (6") (DUMPSTER)	440	SF	$9.00	100.00	-	3,960.00	-	3,960.00	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
8	DENSITIES	2	EA	$112.00	100.00	-	224.00	-	224.00	
9	SIGNING & STRIPING	1	LS	$17,900.00	100.00	-	17,900.00	-	17,900.00	
10	MAINTENANCE OF TRAFFIC	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
11	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
12	SURVEYING	1	LS	$15,000.00	100.00	-	15,000.00	-	15,000.00	
Sub-total PAVING & GRADING (PHASE 2 - PARK)	581,286.85	-	581,286.85	
STORM WATER POLLUTION PROTECTION PLAN (PHASE 2 - PARK)	
1	SILT FENCE	3,450	LF	$4.50	100.00	-	15,525.00	-	15,525.00	
2	FILTER FABRIC AT INLETS	2	EA	$50.00	100.00	-	100.00	-	100.00	
3	FILTER FABRIC AT TRENCH DRAIN	480	LF	$3.00	100.00	-	1,440.00	-	1,440.00	
4	WASH RACK w/ SEDIMENT BASIN	1	EA	$1,250.00	100.00	-	1,250.00	-	1,250.00	
5	GRAVEL ENTRANCE/EXIT	1	EA	$850.00	100.00	-	850.00	-	850.00	
STORM WATER POLLUTION PROTECTION PLAN (PHASE 2 - PARK)	19,165.00	-	19,165.00	
EARTHWORK (SW 336 STREET)	
1	CLEAR & GRUB (6")	2,110	CY	$12.00	100.00	-	25,320.00	-	25,320.00	
2	CUT, LOAD, HAUL & SPREAD FILL MATERIAL (SUBBASE)	615	CY	$18.00	100.00	-	11,070.00	-	11,070.00	
3	IMPORT, SPREAD & COMPACT FILL MATERIAL (SUBBASE)	1,620	TN	$26.80	100.00	-	43,416.00	-	43,416.00	
4	RECLAIM SUBBASE	2,845	SY	$12.00	100.00	-	34,140.00	-	34,140.00	
5	LOAD, HAUL & DISPOSE UNSUITABLE MATERIAL	2,110	CY	$12.00	100.00	-	25,320.00	-	25,320.00	
6	SURVEYING (2.4 AC)	1	LS	$6,500.00	100.00	-	6,500.00	-	6,500.00	
Sub-total EARTHWORK (SW 336 STREET)	145,766.00	-	145,766.00	
PAVING & GRADING (SW 336 ST.)	
1	GRADE SUBGRADE	8,110	SY	$4.00	100.00	-	32,440.00	-	32,440.00	
2	8" BASEROCK	7,600	SY	$23.50	100.00	-	178,600.00	-	178,600.00	
3	2" A.C.S.C. (FIRST LIFT - SP12.5)	6,645	SY	$25.80	100.00	-	171,441.00	-	171,441.00	
4	1" A.C.S.C. (FINAL LIFT - FC9.5)	6,645	SY	$17.55	100.00	-	116,619.75	-	116,619.75	
5	2.5" A.C.S.C. (FIRST LIFT - SP12.5) (SW 187 AVE)	440	SY	$35.80	100.00	-	15,752.00	-	15,752.00	
6	1" A.C.S.C. (FINAL LIFT - FC9.5) (SW 187 AVE)	440	SY	$18.55	100.00	-	8,162.00	-	8,162.00	
7	MILL & PAVE (1" FC9.5)	1,340	SY	$23.55	100.00	-	31,557.00	-	31,557.00	
8	TYPE F CURB & GUTTER	3,565	LF	$27.00	100.00	-	96,255.00	-	96,255.00	
9	ASPHALT SAWCUT	3,460	LF	$7.00	100.00	-	24,220.00	-	24,220.00	
10	CONCRETE SAWCUT	45	LF	$14.00	100.00	-	630.00	-	630.00	
11	CONCRETE SIDEWALK (4")	16,125	SF	$10.50	100.00	-	169,312.50	-	169,312.50	
12	ADA TACTILE SURFACES	180	SF	$42.00	100.00	-	7,560.00	-	7,560.00	
13	REMOVE & DISPOSE ASPHALT (88 SY)	5	CY	$25.00	100.00	-	125.00	-	125.00	
14	REMOVE & DISPOSE CONCRETE SIDEWALK (565 SF)	7	CY	$500.00	100.00	-	3,500.00	-	3,500.00	
15	DENSITIES	19	EA	$110.00	100.00	-	2,090.00	-	2,090.00	
16	SIGNING & STRIPING	1	LS	$143,000.00	100.00	-	143,000.00	-	143,000.00	
17	MAINTENANCE OF TRAFFIC	1	LS	$3,500.00	100.00	-	3,500.00	-	3,500.00	
18	MISCELLANEOUS	1	LS	$1,500.00	100.00	-	1,500.00	-	1,500.00	
19	SURVEYING	1	LS	$45,000.00	100.00	-	45,000.00	-	45,000.00	
Sub-total PAVING & GRADING (SW 336 ST.)	1,051,264.25	-	1,051,264.25	

ALVAREZ ENGINEERS, INC.

Keys Edge CDD	
Estimate of Construction Costs (Flora Subdivision)	
Item No.	
Description of Work	
Quantity	
Unit	Unit Price ($/Unit)	Proportion (%)	Estimated Cost ($)	
					CDD	Non-CDD	CDD	Non-CDD	Total	
STORM WATER POLLUTION PROTECTION PLAN (SW 336 ST.)	
1	GRAVEL BAGS AT INLETS (NORTH SIDE 336 ST)	6	EA	$85.00	100.00	-	510.00	-	510.00	
Sub-total STORM WATER POLLUTION PROTECTION PLAN (SW 336 ST.)	510.00	-	510.00	
TOTAL ORIGINAL CONTRACT	11,331,489.80	4,176,457.21	15,507,947.0	
OTHER COSTS	
1	Soft Cost and Contingency	15.00	%	$15,507,947.01	73.07	26.93	1,699,723.47	626,468.58	2,326,192.05	
2	Water Conn. Fee (232 SFH @210 GPD)	48,720	GPD	$1.39	100.00	-	67,720.80	-	67,720.80	
3	Sewer Conn Fees (232 @ 210 GPD)	48,720	GPD	$5.60	100.00	-	272,832.00	-	272,832.00	
										
Sub-total Other Costs	2,040,276	626,468.58	2,666,744.85	
GRAND TOTAL	13,371,766	4,802,925.80	18,174,691.9	

ACQUISITION AGREEMENT
(Assessment Area Three)

This Acquisition Agreement (the “Agreement”) is made and entered into as of this 	
day of 	, 2026 (the “Effective Date”), by and between:
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, a local unit of
special purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Florida City, Florida within Miami-Dade County, Florida, and whose mailing address is c/o Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”); and
AUDAX LAND FLORDA LLC, a Florida limited liability company, the owner and primary developer of certain lands within the District, whose principal address is 7310 SW 78 Court, Miami, Florida 33143, and its successors, successors-in-title, and assigns (the “Developer”).

RECITALS

WHEREAS, the District was established by Ordinance No. 07-106, enacted by the Board of County Commissioners (the “County Commission”) of Miami-Dade County, Florida (the “County”) on July 24, 2007 and effective August 3, 2007, as amended by Ordinance No. 07-173 enacted
December 4, 2007 and effective December 14, 2007, and as further amended by Ordinance No. 24-
35 enacted April 16, 2024 and effective April 26, 2024 (collectively, the “Ordinance”), for the purpose of planning, financing, constructing, installing, operating, acquiring and/or maintaining certain public infrastructure to serve the residential community located within the boundaries of the District; and

WHEREAS, the Developer is the developer of the 40.57 +/- acres of lands within a portion of the District, which lands are situated within the City of Florida City, Florida (the “City”) within the County, asmore particularly described in Exhibit A, attached hereto and made a part hereof (“Assessment Area Three”); and

WHEREAS, the lands within Assessment Area Three are owned by the Developer; and

WHEREAS, the Developer covenants that it has all necessary authority to develop Assessment Area Three, complete the Assessment Area Three Project, as later defined herein, and enter into this Agreement with the District; and

WHEREAS, the District has determined that it is in the best interests of the present and future landowners and is a direct and special benefit to Assessment Area Three within the District to finance, construct and deliver certain community development systems, facilities, and improvements to serve the District and the lands within Assessment Area Three, including, without limitation, roadway improvements, including impact fees; stormwater management and drainage facilities; a water distribution system, including applicable connection fees; a sanitary collection system,

including applicable connection fees; and related soft and incidental costs, including professional fees, which public infrastructure systems, facilities and improvements are more specifically described in the Engineer’s Report Infrastructure Improvements, dated June 2, 2022, as supplemented by a Second Supplemental Engineer’s Report for Infrastructure Improvements within Parcels “D,” “F,” and “E” dated August 12, 2026, each prepared by Alvarez Engineers, Inc. (the “Engineer”), as may be further amended or supplemented from time to time (collectively, the “Engineer's Report”), and in the plans and specifications on file at the office of the District (collectively, the “Improvements” or the “Assessment Area Three Project”), which Engineer’s Report and Assessment Area Three Project plans and specifications are hereby incorporated into and made a part of this Agreement by reference; and

WHEREAS, the District desires to acquire from the Developer, and the Developer desires to convey to the District, on the terms and conditions set forth herein, in one or more conveyances, the Developer's rights or interest in the Assessment Area Three Project, which consists of the rights and interests in certain public infrastructure improvements (“Improvements”) and interests in real property as more particularly described in Exhibit B attached hereto and made a part hereof, which Improvements benefit those lands constituting Assessment Area Three, as described in the Engineer’s Report; and

WHEREAS, the District proposes to issue its $	 Keys Edge Community Development District Special Assessment Bonds, Series 2026 (Assessment Area Three Project) (the “Series 2026 Bonds”), to finance the cost of acquisition of a portion of the Developer's rights or interest in the Assessment Area Three Project providing a direct and special benefit to Assessment Area Three, pursuant to a Master Trust Indenture, dated as of December 1, 2024, and a Third Supplemental Trust Indenture, dated as of August 1, 2026, as each may be supplemented and amended from time to time (collectively, the “Indenture”), which Indenture is by and between the District and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”); and

WHEREAS, the District intends to issue its Series 2026 Bonds to finance a portion of the Assessment Area Three Project; and

WHEREAS, since the Assessment Area Three Project provides a direct and special benefit to the lands within Assessment Area Three within the District, it is the intent of the parties that this Agreement shall be applicable to the Series 2026 Bonds; and

WHEREAS, Developer will grant the District those easements or real property interests as determined to be necessary by legal counsel to the District and which permit the District to acquire and/or construct and maintain the Assessment Area Three Project within and benefitting Assessment Area Three; and

WHEREAS, any capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in the Indenture; and

WHEREAS, as a condition of the District acquiring the Improvements that constitute part of the Assessment Area Three Project, the Engineer will certify that the Improvements or the portion of

the Improvements being conveyed to the District pursuant to this Agreement are part of the Assessment Area Three Project and will certify that the cost to be charged to the District for each portion of the Improvements being conveyed to the District pursuant to this Agreement does not exceed the lower of (i) the documented actual cost of such Improvements or (ii) the Engineer's estimated fair market value of such Improvements; and

WHEREAS, the Developer agrees and acknowledges that this Agreement shall be binding upon its heirs, executors, receivers, trustees, successors, successors in title, and assigns (except for homebuyers); and
WHEREAS, the District Board of Supervisors has determined that it is in the best interests of the District, its future landowners and residents to enter into this Agreement and to acquire the Improvements and any interests in real property that are part of the Assessment Area Three Project.

NOW, THEREFORE, in consideration of the mutual covenants herein contained, and for Ten and no/100ths ($10.00) Dollars and other good and valuable consideration from the District to the Developer, the receipt and sufficiency of which are hereby acknowledged, acknowledged, and subject to the terms and conditions hereof, the parties agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Agreement.

APPLICABLE PROVISIONS; MAXIMUM PAYMENT.

It is contemplated by the parties that the Improvements will be completed and conveyed by the Developer to the District. The provisions of Section 3 and Section 4 hereof are specifically applicable to the conveyance of Improvements comprising the Assessment Area Three Project by the Developer to the District. The District agrees to pay the Developer subsequent to the issuance of the Series 2026 Bonds, the amount of net proceeds available from the Series 2026 Bonds issued by the District as total payment for all the Developer's rights or interest in the Assessment Area Three Project, an amount not to exceed FIFTEEN MILLION EIGHT HUNDRED THIRTY-NINE THOUSAND AND 00/100 ($15,839,000.00) DOLLARS (the “Assessment Area
Three Project Cost”). The parties acknowledge that this Assessment Area Three Project Cost will exceed the amount of net proceeds available from the Series 2026 Bonds to be issued by the District, in one or more Series, in connection with the Assessment Area Three Project. The total payment to be made by the District for all the Developer’s rights or interests in the Project calculated in accordance with and subject to this Agreement shall not exceed the amount of net proceeds available from the Series 2026 Bonds (the “Purchase Price”) deposited into the applicable Series 2026 Acquisition and Construction Account and from monies in the Series 2026 Reserve Account(s) as a result of satisfaction of the Release Conditions #1 and Release Conditions #2 (as each term is defined in the Indenture) (collectively, the “Release Conditions”).

In no event shall the District pay more than the Purchase Price for the Assessment Area Three Project. In the event that there are not sufficient funds from the available net proceeds of the Series 2026 Bonds and from available money released from the Series 2026 Reserve Account

upon satisfaction of the Release Conditions to pay for the Assessment Area Three Project, then, the Assessment Area Three Project Cost shall be reduced to equal the amount of remaining funds available from the net proceeds of the Series 2026 Bonds and available monies in the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions, so that payment of such remaining and available funds shall fully satisfy the District’s obligation to the Developer and the Developer shall convey all of the Improvements and the interests in real property subject to this Agreement without further right to any additional payments for the Improvements or the interests in real property constituting the Assessment Area Three Project. The acquisition of the Developer’s rights or interest in the Assessment Area Three Project by the District and the District’s payment for same shall be in accordance with the terms of this Agreement, the applicable Indentures relating to the Series 2026 Bonds, the resolution or resolutions authorizing the Series 2026 Bonds, and the Engineer’s Report, all of which are incorporated herein by reference. The parties recognize that Developer shall not be paid more than the Purchase Price for the Assessment Area Three Project.

For purposes of the payment provisions of this Agreement, all payments to the Developer shall be made and directed to Audax Land Flora LLC, unless otherwise directed in writing by Audax Land Florda LLC.

CONVEYANCE OF IMPROVEMENTS AND REAL PROPERTY.

In accordance with the terms and conditions of this Agreement, the Developer shall, in one or more conveyances, convey, or cause to be conveyed by the Developer or others, as the case may be, to the District by dedication, special warranty deed, quit claim deed, easement, bill of sale or other appropriate form of conveyance satisfactory to the District and its counsel, any and all of the Developer's rights in the interests in real property and the Improvements from time to time and as the Improvements are completed. At least fifteen (15) days prior to the date of conveyance of any interests in real property (pursuant to Section 3.2 and Section 3.6 below) or Improvements hereunder, the Developer shall provide the District with copies of surveys and as-built plans, if applicable, signed and sealed by the Developer’s surveyor and/or engineer of record describing the Improvements and any real property, if applicable, being conveyed. At least ten (10) days prior to the date of conveyance of any interests in real property pursuant to Section 3.2 and Section 3.6 hereunder, the Developer shall provide the District with title insurance, an attorney's opinion of title or other evidence of clear title relating to any interests in real property and Improvements acceptable to the District and its counsel describing the nature of Developer's rights or interest in the real property and Improvements being conveyed, and stating that (i) such interests in real property and Improvements are free and clear of all liens and encumbrances, except as provided herein and except for those encumbrances that do not impair or interfere with any functions of the District, (ii) all governmental approvals necessary to install the Improvements have been obtained, and (iii) the Developer is conveying the complete interest in the Improvements to the District.

Conveyance of interests in real property. Pursuant to and as more particularly described in the Engineer’s Report and as part of the Assessment Area Three Project, the Developer is required, at no cost to the District, to convey or ensure the conveyance of those interests in real property necessary for the District to own, operate and maintain the Assessment Area Three Project. With respect to the conveyance of the interests in real property, on the date of the closing on said

property, or portions thereof, the Developer shall deliver to the District the following original documents:

Special Warranty Deed (the “Deed”) or Grant of Easement, as provided in the Engineer’s Report;
Attorney’s Opinion of Title;
Owner’s/Seller’s Affidavit;
Bill of Sale for improvements on the property;
Any necessary consent resolutions;
Any assignments or other documents that might be required as part of or in connection with the issuance of the title commitment or opinion of title.

The parties acknowledge and agree that certain portions of the Improvements may have been or will be constructed in rights-of- way, utility easements, common areas or areas, any or all of which may have been previously dedicated to other governmental bodies, public entities, or other quasi-public organizations, and that, therefore, such portions of the Improvements may be subject to certain rights of other governmental bodies, public entities, other quasi-public organizations. Accordingly, the Developer's rights or interest in such portions of the Improvements may be conveyed by the Developer to the District, subject to such other rights provided such rights are perpetual in nature, and the District shall have free and unencumbered access to such Improvements.

All terms and conditions of this Agreement apply equally to conveyances made prior to funding from proceeds of the Series 2026 Bonds, and the District shall make payment for such conveyances in accordance with Section 4 below, provided that under no circumstances shall a conveyance made prior to such funding obligate the District to make payment prior to receipt by the District of such funding from proceeds of the Series 2026 Bonds.

By approval and execution of this Agreement, the District authorizes and ratifies the preparation and execution by the proper official(s) of the District of all documents necessary to effectuate the conveyances contemplated by this Agreement.

The Developer further agrees to convey, or have conveyed without monetary consideration, such real property and interests in real property, whether by deed, easement, or otherwise, from the Developer or other owner(s), as the case may be, so that the District has full access by means of ingress and egress to all Improvements for purposes of ownership and maintenance of said Improvements and in accordance with the Engineer’s Report. Developer further agrees to convey or have conveyed, at no cost to the District, such other real property interests in Assessment Area Three from the Developer in favor of the District as determined to be necessary by

District legal counsel and which permit the District to acquire, own, and operate the Assessment Area Three Project within said Assessment Area Three.

PAYMENT FOR IMPROVEMENTS.
After receipt by the District of funds from the net proceeds of the Series 2026 Bonds and in accordance with the terms of the applicable Indentures relating to the Series 2026 Bonds and this Agreement, the District agrees to pay the Developer upon the issuance of the Series 2026 Bonds from available funds for that purpose under the Indenture, as total payment for all of the Developer’s and any other grantor’s rights or interest in any Improvements to be conveyed to the District, an amount not more than the Purchase Price, which shall not exceed the lesser of the documented actual cost of the Improvements or the Engineer’s estimated fair market value of such Improvements, with the exact purchase price to be based on the certificate of the Engineer, and which is subject to the amount of funds available to the District from the net proceeds of the Series 2026 Bonds, to pay for the Improvements. The Purchase Price is inclusive of any mobility fees or connection charges that are part of the Assessment Area Three Project, as described in Section 5 of this Agreement and in the Engineer’s Report. The Developer shall convey all the Improvements subject to this Agreement without further right to any additional payments for the Improvements except as provided in Section
below, including the mobility fees and connection charges, by the District and the District’s payment for same shall be in accordance with the terms of this Agreement, the applicable Indentures relating to the Series 2026 Bonds, the resolution or resolutions authorizing the Series 2026 Bonds, and the Engineer’s Report. The payment of the Purchase Price shall occur in the following manner:

Payment. From time to time subsequent to the Effective Date of this Agreement and subsequent to the receipt by the District of funds from proceeds of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions, upon proper requisition as provided by the applicable Indentures relating to the Series 2026 Bonds and upon certification by the Engineer and the Developer in accordance with Section 6 of this Agreement with respect to any portion of the Improvements to be conveyed or already conveyed, the District shall direct the Trustee to pay the Developer such certified amount in one or more installments for each Series of Bonds, as necessary. To the extent that there are sufficient funds available from the net proceeds of the Series 2026 Bonds, including moneys released from the Series 2026 Reserve Account upon satisfaction of the Release Conditions, the District will continue to pay the Developer from such proceeds for certain portions of the Improvements as those portions are conveyed to, and accepted by, the District in accordance with this Agreement, until the earlier of such time as the total Purchase Price shall have been paid to the Developer or there are no longer any funds available to the District from the net proceeds of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions to pay for the Improvements.

No Additional Payment Obligation. Nothing in this Agreement shall obligate the District to make additional payments in the event that there are not sufficient funds available to the District from the net proceeds of the Series 2026 Bonds or from the Series 2026 Reserve Account upon satisfaction of the Release Conditions to pay for the Improvements.

Maximum Payment. In no event shall the District pay more than the Purchase Price for all of the Improvements, and in the event that there are not sufficient funds from the available net proceeds of the Series 2026 Bonds, or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions to pay for Improvements, then, the Purchase Price shall be reduced to equal the amount of remaining funds available from the available net proceeds of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions, so that payment of such remaining and available funds shall fully satisfy the District’s obligation to the Developer and the Developer shall convey all of the Improvements and real property subject to this Agreement without further right to any additional payments for the Improvements. The acquisition of the Developer’s rights or interest in the Improvements and District’s payment for the same shall be in accordance with the terms of this Agreement and the applicable Indentures relating to the Series 2026 Bonds and with the resolution or resolutions authorizing the Series 2026 Bonds and the Engineer’s Report. Notwithstanding, the parties recognize that the Developer shall not be paid more than the Purchase Price for the Improvements that constitute the Assessment Area Three Project.

No provision of Section 4 shall relieve the Developer of the completion obligations in Section 7. Notwithstanding anything else in this Agreement to the contrary, the District and Developer acknowledge that the District's obligation to pay for the Assessment Area Three Project is subject to the terms of the Indenture.

CONDITION OF IMPROVEMENTS AND PROPERTY; WARRANTY.	At
the time of conveyance by the Developer of the Developer's rights or interest in all or any portion of the completed Improvements, the portion of the Improvements being conveyed shall be in good condition, reasonably free from defects, as determined by the District's Engineer; and Developer warrants to the District, and to any government entity to which the Improvements may be conveyed by the District, that said Improvements shall be free from defects in materials, equipment or construction for a period of one (1) year from the date of conveyance. Developer further agrees, as part of any conveyance of Improvements, to assign to the District any warranties associated with or applicable to the Improvements, but only to the extent capable by their terms of being assigned. Notwithstanding any warranty relating to the Improvements contained herein, the District acknowledges that any interests in real property conveyed hereunder shall be conveyed in “AS IS, WHERE IS” condition, with no representation, warranty, or recourse, excepting that which is provided in any deed, opinion of title, or title insurance commitment pertaining to the property.

CERTIFICATIONS. Before any payment by the District for any portion of the Improvements, the District shall be provided with a certificate (or certificates), signed by the District’s Engineer and a certificate (or certificates) (collectively, the "Certifications") signed by the Developer certifying that: (a) the amount to be paid to the Developer for any portion of the Improvements does not exceed the lower of (i) the actual cost paid or to be paid by the Developer for said Improvements (based upon representations of the Developer) or (ii) the fair market value of such Improvements; (b) that said Improvements for which payment is to be made are part of the Assessment Area Three Project; (c) that said Improvements conveyed or to be conveyed to the District have been installed or constructed in substantial conformity with the plans and specifications and in conformance with applicable rules, regulations, ordinances, laws and all permits and

approvals governing the installation or construction of the same; (d) that all currently required approvals and permits for acquisition, construction, reconstruction, installation and equipping of the Improvements or any portion thereof have been obtained or can reasonably be expected to be obtained from all applicable regulatory bodies; (e) that the Developer has paid all contracts, subcontracts and materialmen that have provided services or materials in connection with such Improvements; (f) that sufficient funds are available from the available net proceeds of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions to acquire or construct any remaining portion of the Assessment Area Three Project; and (g) that each payment to be received by the Developer pursuant to this Agreement does not constitute a loan of the proceeds of the Series 2026 Bonds to the Developer. If sufficient funds are not available from the available net proceeds of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions to acquire or construct any remaining portion of the Assessment Area Three Project, the project completion obligations of Section 7 shall be invoked and applicable.

Final completion of the Improvements is to be provided by the Developer, and such completion shall be evidenced by a certificate of completion signed by the Developer and the District’s Engineer and delivered to the District.

COMPLETION.

The Developer covenants that it shall cause the Improvements constituting the Assessment Area Three Project to be completed and conveyed and shall convey or cause to be conveyed any interests in real property necessary for the maintenance and operation of the Improvements or the Assessment Area Three Project, regardless of whether the proceeds of the Series 2026 Bonds or other amounts available for that purpose under the Indenture are sufficient to cover the costs of such completion and such conveyances. Pursuant to this Agreement and the terms of the Completion Agreement of equal date herewith by and between the District and the Developer, the Developer hereby agrees to complete or cause to be completed or to provide funds to the District in an amount sufficient to allow the District to complete or cause to be completed, those portions of the Improvements which remain unfunded from the sum of the available net proceeds of the Series 2026 Bonds issued by the District and from moneys from the Series 2026 Reserve Account as result of satisfaction of the Release Conditions, including, but not limited to, all administrative, legal, warranty, engineering, permitting or other related soft costs (collectively, the “Remaining Improvements”), for the Improvements specially benefiting the lands within Assessment Area Three.

The Developer acknowledges that the Assessment Area Three Project Cost will exceed the amount of net proceeds anticipated to be available from the Series 2026 Bonds issued by the District. According to the Master Special Assessment Methodology, dated April 29, 2024, as supplemented with the final Third Supplemental Special Assessment Methodology Report, dated
	, 2026, each prepared by Special District Services, Inc., as may be further amended and supplemented by the District Board of Supervisors from time to time (collectively, the “Methodology Report”), the District will issue $	 in principal amount of Series

2026 Bonds, which will provide approximately $	 in available Series 2026 Bonds net proceeds to pay a portion of the Purchase Price.

Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness, or to provide funds for any portion of the Remaining Improvements or interests in real property from any source other than the proceeds of the Series 2026 Bonds, including amounts from the Series 2026 Reserve Account upon satisfaction of the Release Conditions.
APPLICATION OF THE INDENTURES. The acquisition of the Developer's rights or interest in any portion or all of the Assessment Area Three Project by the District and District's payment for same shall be in accordance with the terms of this Agreement and applicable provisions of the applicable Indentures relating to the Series 2026 Bonds, which are specifically incorporated herein by reference and made a part hereof. In no case shall the cumulative price paid by the District for the Assessment Area Three Project exceed the lesser of Assessment Area Three Project Cost or available net proceeds from the issuance of the Series 2026 Bonds or from moneys transferred from the Series 2026 Reserve Account as a result of satisfaction of the Release Conditions.

SUCCESSORS. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of Developer and District, their heirs, executors, receivers, trustees, successors, successors-in-title, and assigns.

CONSTRUCTION OF TERMS. Whenever used, the singular number shall include the plural, the plural the singular; the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.

ENTIRE AGREEMENT. This Agreement contains the entire understanding between the District and the Developer and each agrees that no representation was made by or on behalf of the other that is not contained in this Agreement and that in entering into this Agreement neither party relied upon any representation not herein contained.

CAPTIONS. The captions for each section of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope of intent of this Agreement, or the intent of any provision hereof.

SEVERABILITY. If any provision of this Agreement, the deletion of which would not adversely affect the receipt of any material benefit by any party hereunder or substantially increase the burden of any party hereto, shall be held to be invalid or unenforceable to any extent, the same shall not affect in any respect whatsoever the validity or enforceability of the remainder of this Agreement.

EXECUTION OF DOCUMENTS. Each party covenants and agrees that it will at any time and from time to time do such acts and execute, acknowledge and deliver, or cause to be

executed, acknowledged and delivered, such documents reasonably requested by the parties necessary to carry out fully and effectuate the transaction herein contemplated and to convey good and marketable title for all conveyances subject to this Agreement.

COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be executed by facsimile, which shall be good as an original, and may be detached from the counterparts and attached to a single copy of this document to physically form one document.
AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this Agreement.

AMENDMENTS AND WAIVERS. This Agreement may not be amended, modified, altered, or changed in any respect whatsoever except by a further agreement in writing duly executed by the parties hereto. No failure by District or Developer to insist upon the strict performance of any covenant, duty, agreement, or condition of this Agreement or to exercise any right or remedy upon a breach thereof shall constitute a waiver of any such breach or of such or any other covenant, agreement, term, or condition. Either party hereto, by notice, may but shall be under no obligation to, waive any of its rights or any conditions to its obligations hereunder. No waiver shall affect or alter this Agreement but each and every covenant, agreement, term, and condition of this Agreement shall continue in full force and effect with respect to any other then-existing or subsequent breach thereof. Notwithstanding anything herein to the contrary, this Agreement may not be materially amended in a manner that (a) could have the effect of reducing the total debt service revenue collected or to be collected for payment of debt service on the Series 2026 Bonds issued by the District or (b) lessens Developer’s obligations in this Agreement without the written consent of the Trustee for the Series 2026 Bonds, acting at the direction of the Bondholders (as defined in the Indenture) owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding. The term “Majority” shall mean more than fifty (50%) percent.

APPLICABLE LAW. This Agreement is made and shall be construed under the laws of the State of Florida.

COSTS AND FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorney's fees and costs for trial, alternate dispute resolution, or appellate proceedings.

NO THIRD-PARTY BENEFICIARIES. Except as provided below, this Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any

person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns (other than homebuyers). Notwithstanding anything herein to the contrary, the Trustee for the Series 2026 Bonds, on behalf of the Bondholders, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and, acting at the direction of the Bondholders (as defined in the Indenture) owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding, shall be entitled to cause the District to enforce the Developer’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.

ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the parties in an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.
ASSIGNMENT. This Agreement, or any monies to become due hereunder, may be assigned by the Developer, provided that the Developer first obtains the prior written approval of the District, which approval shall not unreasonably be withheld. In addition, the Developer may not assign its obligations hereunder without the prior written consent of the Trustee acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds outstanding.

FURTHER ASSURANCES. At any and all times, the Developer and District shall, so far as either may be authorized by law, make, do, execute, acknowledge and deliver, all and every other further acts, deeds, conveyances, assignments, transfers and assurances as may be necessary or desirable, as determined by the District, for the better assuring, conveying, granting, assigning and confirming of any and all rights or interest in the Improvements and the real property which are intended or required to be acquired by or conveyed to or by the District as contemplated by the Indenture and this Agreement, including the conveyance, assignment or transfer to other government agencies of such portions of the Improvements or interests in real property as authorized, directed or required by applicable laws or regulations, conditions of development orders, or agreements entered into by the District.

REMEDIES. A default by either party under the Agreement shall entitle the other to all remedies available at law or in equity, which shall include but not be limited to the right of damages and injunctive relief and specifically include the ability of the District to enforce any and all payment obligations under this Agreement through the imposition and enforcement of a contractual or other lien on property within the District and owned by the Developer, which lien shall be foreclosable in the manner of mechanics’ liens pursuant to Chapter 713, Florida Statutes, or as otherwise provided by law. In the event of the Developer's default under this Agreement, the parties agree as to the absence of adequate remedies at law; therefore, the District shall have, in

addition to such rights and remedies as provided above and by general application of law, the right to obtain specific performance of the Developer's obligations hereunder.
SOVEREIGN IMMUNITY. Developer agrees that nothing in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes, as amended, or other statutes or law.

NOTICES. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing and shall be (as elected by the person giving such notice) hand-delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:

District:	Keys Edge Community Development District 2501A Burns Road
Palm Beach Gardens, Florida 33410 Attention: District Manager

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

Developer:	Audax Land Flora LLC 7310 SW 78 Court
Miami, Florida 33143
Attn: Javier Melo, Manager

With a copy to:	ALGO Law Firm
815 Ponce de Leon Boulevard, Suite 101 Coral Gables, Florida 33134
Attention: Frank Silva, Esq.

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 PM (at the place of delivery) or on a non-business day shall be deemed received 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 changes 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 herein.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the parties hereto have executed this Agreement, effective as of the date first above written.

Witnesses:

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

Print Name

By:		
Ronald Fields, Chairman Board of Supervisors

Attest: 	
Nancy Nguyen, Secretary

Print Name

	 day of 	, 2026

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this     day of 	, 2026, by Ronald Fields, as Chairman of the Board of Supervisors for KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, who is personally known and/or produced 		 as identification.

[SEAL]		
Notary Public Commission:
STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this     day of 		, 2026, by Nancy Nguyen, as Secretary of the KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, who is personally known and/or produced 	 as identification.

[SEAL]		
Notary Public Commission:

AUDAX LAND FLORA LLC, a Florida
limited liability company

Witnesses:
By: 	
Javier Melo, Manager

Print Name

	 day of 	, 2026

Print Name

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [ ] physicalpresence or [ ] online notarization, this     day of 	, 2026, by Javier Melo, as Manager of AUDAX LAND FLORA LLC, a Florida limited liability company. He is personally known to me or has produced 	 as identification.

Notary Public Commission:

Exhibit A Assessment Area Three
All of 	, according to the Plat thereof, as recorded in Plat Book
	, Page 	 of the Public Records of Miami-Dade County, Florida.
Said lands situate in the City of Florida City within Miami-Dade County, Florida.

Exhibit B

Improvements - Assessment Area Three Project

The roadway improvements applicable to the Assessment Area Three Project consist of onsite road right-of-way improvements and offsite road right-of-way improvements to SW 192 Avenue, SW 336 Street, and SW 187 Avenue. These roadway improvements are more particularly described in the Engineer’s Report Infrastructure Improvements, dated June 2, 2022, as supplemented by a Second Supplemental Engineer’s Report for Infrastructure Improvements within Parcels “D,” “F,” and “E” dated August 12, 2026, each, each prepared by Alvarez Engineers, Inc. (the “Engineer’s Report”), as such Engineer’s Report is further amended and supplemented from time to time by the District.

Stormwater Management and Drainage Facilities. All stormwater management and drainage facilities for the Assessment Area Three Project, as more particularly described in the Engineer’s Report, as amended and supplemented from time to time by the District.

Water Distribution and Sanitary Sewer Systems. The water distribution and sanitary sewer systems for the Assessment Area Three Project consists of those potable water and sanitary sewer facilities and improvements that are more particularly described in the Engineer’s Report, as well as water connection charges and sanitary sewer connection changes for the Assessment Area Three Project.

Conveyance of Interest in Land. Easements and land acquisition as described in the Engineer’s Report and in the Acquisition Agreement.

5	Other Improvements. Those other, appurtenant, and related public infrastructure components of the Assessment Area Three Project, as described and depicted in the Engineer’s Report.

Prepared by and return to:

Michael J. Pawelczyk, Esq. Billing Cochran, P.A.
515 East Las Olas Blvd., Suite 600 Fort Lauderdale, FL 33301

SPACE ABOVE THIS LINE IS FOR RECORDER’S USE ONLY

COLLATERAL ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT RIGHTS RELATING TO ASSESSMENT AREA THREE

This COLLATERAL ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT
RIGHTS RELATING TO ASSESSMENT AREA THREE (herein, the “Assignment”) is made this   day of 	, 2026, by AUDAX LAND FLORA LLC, a Florida limited liability company whose address is 7310 SW 78 Court, Miami, Florida 33143 (together with its successors, successors in title, and assigns, the “Developer” or the “Assignor”), in favor of the KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, a local unit of special purpose government organized and created under the laws of the State of Florida, whose address is 2501A Burns Road, Palm Beach Gardens, Florida 33410, located within the municipal limits of the City of Florida City (the “City”) within Miami-Dade County, Florida (the “County”) (together with its successors, successors in title, and assigns, the “District” or “Assignee”).
RECITALS
WHEREAS, the District proposes to issue its $	 Keys Edge Community Development District Special Assessment Bonds, Series 2026 (Assessment Area Three Project) (the “Series 2026 Bonds”), to finance certain public infrastructure which will provide special benefit to the platted residential lots (collectively, the “Lots” and individually, a “Lot”) and lands within the herein defined Assessment Area Three within the District to be platted, all contained within certain lands owned by Assignor and described in Exhibit “A” attached hereto (the “Assessment Area Three”), which will be included in a portion of the residential project referred to as “Flora Subdivision” (the “Assessment Area Three Project”), located within the geographical boundaries of the District; and
WHEREAS, the District has determined that it is in the best interests of the present and future landowners and is a direct and special benefit to Assessment Area Three within the District to finance, construct and deliver certain community development systems, facilities, and improvements to serve the District and the lands within Assessment Area Three, including, without limitation, roadway improvements, including impact fees; stormwater management and drainage facilities; a water distribution system, including applicable connection fees; a sanitary collection system, including applicable connection fees; and related soft and incidental costs, including professional fees, which public infrastructure systems, facilities and improvements are more specifically described in the Engineer’s Report Infrastructure Improvements, dated June 2, 2022, as supplemented by a Second Supplemental Engineer’s Report for Infrastructure

Collateral Assignment (Keys Edge AA3) Rev. 08-12-2026

Improvements within Parcels “D,” “F,” and “E” dated August 12, 2026, prepared by Alvarez Engineers, Inc., as may be further amended or supplemented from time to time, and in the plans and specifications on file at the office of the District (collectively, the “Assessment Area Three Project”); and

WHEREAS, the security for the repayment of the Series 2026 Bonds is the special assessments levied against the assessable lands within Assessment Area Three within the District, including platted residential Lots therein (the “Assessment Area Three Special Assessments”); and
WHEREAS, the Assessment Area Three Special Assessments have been levied by the District against the assessable lands of Assessment Area Three within the District; and

WHEREAS, the Developer is the primary landowner of Assessment Area Three, while and any remaining portions of Assessment Area Three are owned by homebuyers, if any; and

WHEREAS, in the event of default in the payment of the Assessment Area Three Special Assessments securing the Series 2026 Bonds, the District has certain remedies with respect to the lien of the Assessment Area Three Special Assessments as more particularly set forth herein; and
WHEREAS, if the Assessment Area Three Special Assessments are direct billed, the sole remedy available to the District would be an action in foreclosure and if the Assessment Area Three Special Assessments are collected pursuant to Florida’s uniform method of collection, the sole remedy for non-payment of the Assessment Area Three Special Assessments is the sale of tax-certificates (collectively, the “Remedial Rights”); and
WHEREAS, in the event the District or its designee exercises its Remedial Rights, the District will require the assignment of certain Development Rights, as hereinafter defined, to complete the Assessment Area Three Project to the extent that such Development Rights have not been previously assigned, transferred or otherwise conveyed (i) as fully-developed Lots conveyed to unaffiliated homebuilders or homebuyers, or (ii) with respect to any property which has been conveyed, or is in the future to be conveyed to the City, the County, the State of Florida, the District, any utility provider, any other governmental or quasi-governmental entity, any applicable homeowners’ or property owners’ association or other governing entity or association, as may be required by applicable permits, plats, entitlements, or regulations affecting the District, if any, for the benefit of the capital infrastructure improvements Assessment Area Three Project to be financed in part with the Series 2026 Bonds (a “Prior Transfer”); and
WHEREAS, this Assignment is not intended to impair or interfere with the development of the Assessment Area Three Project and shall be inchoate and shall only become an absolute assignment and assumption of the Development Rights, as described below, upon failure of the Assignor to pay the Assessment Area Three Special Assessments levied against Assessment Area Three owned by the Developer; provided, however, that such Assignment shall only be absolute to the extent that this Assignment has not been terminated earlier pursuant to the term of

this Assignment or to the extent that a Prior Transfer has not already occurred with respect to any of the Development Rights; and
WHEREAS, the rights assigned to the District hereunder shall be exercised in a manner which will not materially affect the intended development of the Assessment Area Three Project; and
WHEREAS, in the event of a transfer, conveyance or sale of any portion of Assessment Area Three that is not a Prior Transfer, the successors-in-interest to the real property so conveyed by the Developer shall be subject to this Assignment, which shall be recorded in the Official Records of Miami-Dade County, Florida.
NOW, THEREFORE, in consideration of the above recitals which the parties hereby agree are true and correct and are hereby incorporated by reference and other good and valuable consideration, the sufficiency of which is acknowledged, Assignor and Assignee agree as follows:
Recitals. The foregoing recitals are true and correct and are incorporated herein by reference.
Collateral Assignment.
Developer hereby collaterally assigns to Assignee, to the extent assignable and to the extent that they are solely owned or controlled by the Developer, all of its development rights relating to the Assessment Area Three Project (herein the “Development Rights”) as security for Assignor’s payment and performance and discharge of its obligation to pay the Assessment Area Three Special Assessments levied against Assessment Area Three while owned by the Developer. The Development Rights shall include the following as they pertain to the Assessment Area Three Project, but shall specifically exclude any such portion of the Development Rights which relate solely to the Lots or any property which has been conveyed by the Developer to any homebuyer, the City, the County, the State of Florida, the District, any utility provider, any other homebuilder, any other governmental or quasi-governmental entity, any applicable homeowner’s association or other governing entity or association as may be required by applicable permits, approvals, plats, entitlements or regulations affecting the Assessment Area Three Project, if any, or to homebuyer residents (the “Excluded Property”):
Zoning approvals, density approvals and entitlements, concurrency and capacity certificates, development agreements and homeowners’ or property owners’ association covenants and documents.
Engineering and construction plans and specifications for grading, open space and roadways, site drainage, storm water drainage, signage, water distribution, waste water collection, re-use irrigation, and other improvements.
Preliminary and final site plans.

Architectural plans and specifications for public buildings and other improvements to the assessable property within Assessment Area Three (other than residential dwelling unit plans).
Permits, approvals, resolutions, variances, licenses, and franchises granted by governmental authorities, or any of their respective agencies, for or affecting the Assessment Area Three Project and construction of improvements thereon and off-site to the extent improvements are necessary or required to complete the development of Assessment Area Three.
Contracts with engineers, architects, land planners, landscape architects, consultants, contractors, and suppliers for or relating to the construction of the Assessment Area Three Project or the construction of improvements on Assessment Area Three.
Contracts and agreements with private utility providers to provide utility services to Assessment Area Three.
All prepaid impact fees, impact fee credits, mobility fee credits, and mitigation credits.
Developer’s rights as declarant under any recorded covenants, conditions and restrictions of any property owners or homeowners association with respect to Assessment Area Three.
All future creations, changes, extensions, revisions, modifications, substitutions, and replacements of any of the foregoing.
This Assignment is not intended to and shall not impair or interfere with the development of Assessment Area Three, and shall be inchoate and shall only become an absolute assignment and assumption of the Development Rights only upon the District’s exercise of its rights hereunder upon a failure of Developer to pay the Assessment Area Three Special Assessments levied against the portion of Assessment Area Three owned by Developer, failure of Developer to satisfy a true-up obligation, a default or failure to perform under any of the instruments or documents entered into in connection with the issuance of the Series 2026 Bonds, including but not limited to, the Acquisition Agreement (Assessment Area Three Project), True-Up Agreement (Assessment Area Three), and Completion Agreement (Assessment Area Three Project) of equal date herewith, or Event of Default hereunder, which default or failure remains uncured after passage of any applicable cure period. The District shall not be deemed to have assumed any obligations associated with the Development Rights unless and until the District exercises its rights under this Assignment, and then only to the extent of such exercise.
If this Assignment has not become absolute, it shall automatically terminate upon the earliest to occur of the following events: (i) payment of the Series 2026 Bonds in full; (ii) Development Completion which shall mean the issuance of certificates of occupancy for all residential units; (iii) transfer of any Development Rights to the City, the County, the State of Florida, the District, any utility provider, any other governmental or quasi-governmental entity; any homeowners’ or property owners’ association, but only to the extent of such transfer; or (iv)

transfer of fully developed Lots which have been conveyed to unaffiliated homebuilders or residential homebuyers but only as to such Lots transferred, from time to time.
Warranties by Assignor.	The  Assignor represents and warrants to Assignee
that:
Other than in connection with the sale or conveyance of Lots (completed
or otherwise) or property, or in connection with securing a construction loan from an institutional lender to finance the development of the Assessment Area Three Project on Assessment Area Three, Assignor has made no assignment of the Development Rights to any other person.
Assignor is not prohibited under any agreement with any other person or under any judgment or decree from the execution and delivery of this Assignment.
No action has been brought or threatened which would in any way interfere with the right of Assignor to execute this Assignment and perform all of Assignor’s obligations herein contained.
Any transfer, conveyance or sale of Lots shall subject any and all affiliated entities or successors-in-interest or successors in title of the Assignor to the Assignment, except to the extent of a conveyance described in Section 2 relating to Excluded Property.
Covenants. The Assignor covenants with Assignee that during the Term (as defined herein):
Assignor will use reasonable, good faith efforts to: (i) fulfill, perform, and observe each and every material condition and covenant of Assignor relating to the Development Rights and (ii) give notice to Assignee of any claim of default relating to the Development Rights given to or by Assignor, together with a complete copy of any such claim.
The Development Rights include all of Assignor’s right to modify the Development Rights, and to waive or release the performance or observance of any obligation or condition of the Development Rights.
Assignor agrees not to take any action that would decrease the development entitlements to a level below the amount necessary to support the then outstanding Series 2026 Bonds.
Assignor shall pay the Assessment Area Three Special Assessments levied against the portions of Assessment Area Three owned by Assignor when due.
Events of Default. Any breach of either of the Assignor’s warranties contained in Section 3 hereof or breach of covenants contained in Section 4 hereof will, after the giving of written notice and an opportunity to cure (which cure period shall not be greater than thirty (30) days unless Assignee, in its sole discretion, agrees to a longer cure period) shall constitute an Event of Default under this Assignment.

Remedies Upon Default.
Upon an Event of Default, or the transfer of title to Lots or other property owned by Assignor pursuant to a judgment of foreclosure entered by a court of competent jurisdiction in favor of Assignee (or its designee) or a deed in lieu of foreclosure to Assignee (or its designee) (herein a “Transfer”), Assignee may, as Assignee’s sole and exclusive remedies under this Assignment, take any or all of the following actions, at Assignee’s option:
Perform any and all obligations of Assignor relating to the Development Rights and exercise any and all rights of Assignor therein as fully as Assignor could.
Initiate, appear in, or defend any action arising out of or affecting the Development Rights.
Further assign any and all of the Development Rights to a third party acquiring title to the Property so acquired or any portion thereof on the District’s or the bondholders’ behalf.
Notwithstanding the foregoing, the Assignee acknowledges and agrees that it shall not use the proceeds of the Series 2026 Bonds on any improvements necessary to reach Development Completion other than the Improvements that are part of the Assessment Area Three Project. Improvements that are outside the scope of the Assessment Area Three Project, including those improvements that are not otherwise able to be funded or constructed by Assignee, may be funded or constructed by Assignee’s designee.
Nothing herein shall be construed as an obligation on the part of the District to accept any liability for all or any portion of the Development Rights unless it chooses to do so in its sole discretion and is legally permitted to do so. Nor shall any provisions hereunder be construed to place liability or obligation on the District for compliance with the terms and provisions of all or any portion of the Development Rights.
Authorization. In the Event of Default or Transfer, Assignor does hereby authorize and shall direct any party to any agreement relating to the Development Rights to tender performance thereunder to Assignee or its designee upon written notice and request from Assignee. Any such performance in favor of Assignee or its designee shall constitute a full release and discharge to the extent of such performance as fully as though made directly to Assignor, but not a release of Assignor from any remaining obligations under this Assignment.
Term and Termination. In the event this Assignment does not become an absolute assignment and assumption of the Development Rights, this Assignment shall automatically terminate upon the earliest to occur of the following (the “Term”): (i) payment of the Series 2026 Bonds, plus accrued interest in full; (ii) completion of the construction and sale of all Lots within Assessment Area Three to homebuyers; or (iii) upon occurrence of a Prior Transfer, but only to the extent that such Development Rights are subject to the Prior Transfer.
Third Party Beneficiaries and Direction of Remedies Upon Default. This Assignment shall inure to the benefit of U.S. Bank Trust Company, National Association, as

Trustee for the Series 2026 Bonds (the “Trustee”), and the holders of the Series 2026 Bonds and such parties are hereby deemed third party beneficiaries of this Assignment. In the event of an Event of Default, the Trustee, acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding, shall have the right to direct the actions of the District and select the remedies in this Assignment. The term “Majority,” as used herein, shall mean more than fifty (50%) percent. The District hereby agrees that it shall not take any material action under this Assignment that would have the effect of reducing the total annual debt service revenue collected or to be collected for the Series 2026 Bonds without the prior written consent of the Trustee, acting at the direction and on behalf of the owners of a Majority of the Series 2026 Bonds then outstanding, fail to take any action under this Assignment after direction from the Trustee, or take any action under this Assignment inconsistent with any direction of the Trustee. The Trustee shall not be deemed to have assumed any obligations hereunder.
Amendment. Except as provided in the next succeeding sentence and except with respect to a Partial Release of this Assignment or a Termination (each of which may be executed solely by Assignee), this Assignment may not be amended, modified, altered, or changed in any respect whatsoever except by a further agreement in writing duly executed by the parties hereto. Notwithstanding anything herein to the contrary, this Assignment may not be materially amended in a manner that has the effect of reducing the total annual debt service revenue collected or to be collected for the Series 2026 Bonds without the written consent of the Trustee for the Series 2026 Bonds, acting at the direction of the Bondholders (as defined in the Indenture for the Series 2026 Bonds) owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding.

Notices. All notices, requests, consents and other communications required or permitted under this Assignment shall be in writing and shall be (as elected by the person giving such notice) hand-delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:
District:	Keys Edge Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410 Attention: District Manager
With a copy to:	Billing Cochran, P.A.
515 East Las Olas Boulevard, Suite 600 Fort Lauderdale, Florida 33301 Attention: Michael J. Pawelczyk, Esq.

Developer:	Audax Land Flora LLC 7310 SW 78 Court
Miami, Florida 33143
Attn: Javier Melo, Manager

With a copy to:	ALGO Law Firm
815 Ponce de Leon Boulevard, Suite 101 Coral Gables, Florida 33134
Attention: Frank Silva, Esq.

Except as otherwise provided in this Assignment, any notice shall be deemed received only upon actual delivery at the address set forth above. Notices delivered after 5:00 PM (at the place of delivery) or on a non-business day shall be deemed received the next business day. If any time for giving notice contained in this Assignment 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 changes 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 herein.

Miscellaneous. Unless the context requires otherwise, whenever used herein, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. The terms “person” and “party” shall include individuals, firms, associations, joint ventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups and combinations. Titles of paragraphs contained herein are inserted only as a matter of convenience and for reference and in no way define, limit, extend, or describe the scope of this Assignment or the intent of any provisions hereunder. This Assignment shall be construed under Florida law.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, Assignor (the Developer) and Assignee have caused this Assignment to be executed and delivered on the day and year first written above.
ASSIGNOR/DEVELOPER:

AUDAX LAND FLORA LLC, a Florida
limited liability company

Witnesses:

By: 	

Javier Melo, Manager

Print Name
Address: 	
	 day of 	, 2026

Print Name
Address: 	

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ ] online notarization, this     day of 		, 2026, by Javier Melo, as Manager of AUDAX LAND FLORA LLC, a Florida limited liability company. He is personally known to me or has produced 	 as identification.

Notary Public Commission:

ASSIGNEE/DISTRICT:

WITNESSES:	KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

Print Name:		By:	
Address: 		Ronald Fields, Chairman
Board of Supervisors

Date: 	, 2026

Print Name: 	
Address: 	

ATTEST:

STATE OF FLORIDA	)
)SS: COUNTY OF MIAMI-DADE	)

Nancy Nguyen, Secretary

The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ ] online notarization, this   day of 	, 2026, by Ronald Fields, as Chairman of the Board of Supervisors of the KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, for and on behalf of the District. He is personally known to me or has produced 		 as identification.

NOTARY STAMP:

Signature of Notary Public

Printed Name of Notary Public
STATE OF FLORIDA	)
)SS: COUNTY OF MIAMI-DADE	)
The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ ] online notarization, this   day of 		, 2026, by Nancy Nguyen, as Secretary of the KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, for and on behalf of the District. She is personally known to me or has produced 	 as identification.

NOTARY STAMP:

Signature of Notary Public

Printed Name of Notary Public

EXHIBIT “A”
LEGAL DESCRIPTION ASSESSMENT AREA THREE

All of 	, according to the Plat thereof, as recorded in Plat Book
	, Page 	 of the Public Records of Miami-Dade County, Florida.

Said lands situate in the City of Florida City within Miami-Dade County, Florida.

Collateral Assignment (Keys Edge AA3) Rev. 08-12-2026

COMPLETION AGREEMENT
(Assessment Area Three)
This Completion Agreement (“Agreement”) is made and entered into as of this 	 day of
	, 2026 (the “Effective Date”), by and between:

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, a local unit of
special purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Florida City, Florida, and whose mailing address is c/o Special District Services, Inc., 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”); and

AUDAX LAND FLORA LLC, a Florida limited liability company, the primary developer of certain lands within the District, whose principal address is 7310 SW 78 Court, Miami, Florida 33143, and its successors, successors-in-title, and assigns (the “Developer”).

RECITALS
WHEREAS, the District was established by Ordinance No. 07-106, enacted by the Board of County Commissioners (the “County Commission”) of Miami-Dade County, Florida (the “County”) on July 24, 2007 and effective August 3, 2007, as amended by Ordinance No. 07-173 enacted on December 4, 2007 and effective December 14, 2007, and as further amended by Ordinance No. 24-
35 enacted on April 16, 2024 and effective April 26, 2024 (collectively, the “Ordinance”), for the purpose of planning, financing, constructing, installing, operating, acquiring and/or maintaining certain public infrastructure to serve the residential community located within the boundaries of the District; and

WHEREAS, the Developer is the developer of the 40.57 +/- acres of lands within a portion of the District, which lands are situated partially within the municipal limits of the City of Florida City, Florida (the “City”) within the County, as described in Exhibit A, attached hereto and made a part hereof (the “Assessment Area Three”); and

WHEREAS, the lands within Assessment Area Three are owned by the Developer; and

WHEREAS, the Developer has all necessary authority to develop Assessment Area Three, complete the Assessment Area Three Project, as later defined herein, and enter into this Agreement with the District; and

WHEREAS, the District has determined that it is in the best interests of the present and future landowners and is a direct and special benefit to the lands within the District to finance, construct and deliver certain community development systems, facilities, and improvements to serve the District and the lands within Assessment Area Three within the District, including, without
1
Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

limitation, roadway improvements, including impact fees; stormwater management and drainage facilities; a water distribution system, including applicable connection fees; a sanitary collection system, including applicable connection fees; and related soft and incidental costs, including professional fees, which public infrastructure systems, facilities and improvements are more specifically described in the Engineer’s Report Infrastructure Improvements, dated June 2, 2022, as supplemented by a Second Supplemental Engineer’s Report for Infrastructure Improvements within Parcels “D,” “F,” and “E” dated August 12, 2026, each prepared by Alvarez Engineers, Inc. (the “Engineer”), as may be further amended or supplemented from time to time (collectively, the “Engineer's Report”), and in the plans and specifications on file at the office of the District (collectively, the “Improvements” or the “Assessment Area Three Project”), which Engineer’s Report and Assessment Area Three Project plans and specifications are hereby incorporated into and made a part of this Agreement by reference; and

WHEREAS, the District has imposed non-ad valorem special assessments on the lands within Assessment Area Three within the District (the “Assessment Area Three Special Assessments”) to secure the financing for the acquisition and construction of a portion of the Assessment Area Three Project; and

WHEREAS, the District is issuing its $	 Keys Edge Community Development District Special Assessment Bonds, Series 2026 (Assessment Area Three Project) (the “Series 2026 Bonds”) to finance the cost of acquisition of a portion of the Developer's rights or interest in the Assessment Area Three Project that provides a direct and special benefit to Assessment Area Three, which amount of Series 2026 Bonds is less than the Assessment Area Three Project cost estimated in the Engineer’s Report; and,
WHEREAS, the parties acknowledge that the District is not legally bound to issue additional bonds to fund the remainder or a portion of the Assessment Area Three Project not funded by the Series 2026 Bonds; and

WHEREAS, the assessable lands within Assessment Area Three within the District will be subject to the Assessment Area Three Special Assessments relating to the Series 2026 Bonds to be issued to finance the costs of a portion of the Assessment Area Three Project that directly and specially benefit Assessment Area Three; and

WHEREAS, the Series 2026 Bonds will be issued pursuant to a Master Trust Indenture dated as of December 1, 2024, a Third Supplemental Trust Indenture, dated as of August 1, 2026, as the same may be supplemented from time to time (collectively, the “Indenture”), which Indenture is by and between the District and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”); and

WHEREAS, the Developer and the District hereby agree that the District will be obligated to issue the Series 2026 Bonds to fund only a portion of the cost of the Assessment Area Three Project and the Developer will cause the Assessment Area Three Project to be completed and conveyed to the District or otherwise provide funds to the District to cause the Assessment Area Three Project to
2
Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

be completed, as more fully set forth herein and will cause any real property interests associated with the Assessment Area Three Project, as described in the Engineer’s Report, to be conveyed at no cost to the District; and

WHEREAS, any capitalized terms not otherwise defined in this Agreement shall have the meaning set forth in the Indenture; and

WHEREAS, since the Assessment Area Three Project provides a direct and special benefit to Assessment Area Three, it is the intent of the parties that this Agreement shall be applicable to the Series 2026 Bonds issued by the District.

NOW THEREFORE, based upon good and valuable consideration and the mutual covenants of the parties, the receipt of which and sufficiency of which is hereby acknowledged, the District and the Developer agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Agreement.

COMPLETION OF THE ASSESSMENT AREA THREE PROJECT.

The Developer and District agree and acknowledge that the available net proceeds of the District's Series 2026 Bonds, including moneys released from the Series 2026 Reserve Account upon the satisfaction of Release Conditions #1 and Release Conditions #2, as such terms are defined in the Indenture (collectively herein, the “Release Conditions”), will provide only a portion of the funds necessary to complete the Assessment Area Three Project. The District will issue a total of
$	 in principal amount of Series 2026 Bonds, which will initially provide approximately
$	 in available Series 2026 Bonds proceeds to pay for a portion of the Assessment Area Three Project benefitting Assessment Area Three. The remainder of the costs required to fund the Assessment Area Three Project benefitting Assessment Area Three shall be derived from Developer funds, as provided herein.
The Developer hereby agrees, subject to the provisions of this Agreement, including subsection (d) below (i) to complete or cause to be completed or (ii) to provide funds to the District in an amount sufficient to allow the District to complete or cause to be completed, in each case, those portions of the Assessment Area Three Project which remain unfunded from available net proceeds of the Series 2026 Bonds and from any amounts deposited pursuant to the Indenture relating to the Series 2026 Bonds into the Series 2026 Acquisition and Construction Account and from monies in the Series 2026 Reserve Account as a result of satisfaction of Release Conditions, including, but not limited to, all administrative, legal, warranty, engineering, permitting, real estate acquisition costs, or other related soft costs, for the Assessment Area Three Project specially benefiting Assessment Area Three within the District (collectively, the “Remaining Improvements”), whether pursuant to existing contracts, contracts assigned by the Developer to the District, or future contracts, and all change orders to any such contracts. The Developer has no reason to believe the Remaining Improvements will not be completed and conveyed to the District or that the Developer
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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

will not provide funds to the District to permit the Remaining Improvements to be completed. The Developer shall cause the property interests associated with the Assessment Area Three Project to be conveyed to the District prior to the completion of the Assessment Area Three Project or within sixty
(60) days of written demand of the District, whichever is earlier

Nothing herein shall cause or be construed to require the District to issue additional bonds or indebtedness, or to provide funds for any portion of the Remaining Improvements from any source other than the proceeds of the Series 2026 Bonds, including monies released from the Series 2026 Reserve Account upon satisfaction of the Release Conditions.

The District and Developer hereby acknowledge and agree that the District’s execution of this Agreement constitutes the manner and means by which the Developer will provide any and all portions of the Remaining Improvements not funded by net proceeds of the Series 2026 Bonds and the moneys released form the Series 2026 Reserve Account upon satisfaction of the Release Conditions, as follows:

The Developer shall diligently proceed to complete or cause to complete the Remaining Improvements (without regard to the estimated cost thereof set forth in the Engineer’s Report) and convey such completed components of the Remaining Improvements to the District, the City, or to the County, if applicable, subject to the terms of the Acquisition Agreement of equal date herewith, between the District and the Developer and pertaining to the Assessment Area Three Project, as the same may be amended by the parties from time to time (collectively, the “Acquisition Agreement”); provided, however, when all or any portion of the Remaining Improvements are the subject of an existing District contract, whether procured or assumed by the District, then upon notice to the Developer by the District, the Developer shall promptly, in accordance with the Acquisition Agreement, provide funds directly to the District in an amount sufficient to complete the Remaining Improvements pursuant to such contract, including change orders thereto.
When any portion of the Remaining Improvements are not the subject of an existing District contract, then upon notice to the Developer by the District, the Developer, within a commercially reasonable time, may request that it instead provide funds to the District in an amount sufficient to allow the District to complete or cause to be completed those Remaining Improvements, subject to a formal determination by the District Board of Supervisors in advance that the option selected by the Developer will not adversely impact the District and is in the District’s best interests.
OTHER CONDITIONS AND ACKNOWLEDGMENTS.
The District and the Developer agree and acknowledge that the exact location, size, configuration and composition of the Assessment Area Three Project, including the Remaining Improvements, may change from that described in the Engineer’s Report, depending upon final design of the development, permitting or other regulatory requirements over time, or other factors. Material changes to the Assessment Area Three Project shall require the prior written consent of the Trustee acting at the direction of the Bondholders (as defined in the Indenture) owning a Majority of

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

the aggregate principal amount of the Series 2026 Bonds then outstanding. The term “Majority,” as used herein, shall mean more than fifty (50%) percent.
The District and Developer agree and acknowledge that for any and all portions of the Remaining Improvements which are constructed, or caused to be constructed, by the Developer for the benefit of the District shall be conveyed to the District or such other appropriate unit of local government as is designated in the Engineer’s Report or required by governmental regulation or development approval. All conveyances to another governmental entity shall be in accordance with and in the same manner as provided in any agreement between the District and the appropriate unit of local government. All conveyances to the District shall be in accordance with the Acquisition Agreement or any other agreement or agreements governing conveyances between the Developer and the District.
Notwithstanding anything to the contrary contained in this Agreement, the payment or performance by the Developer of its completion obligations hereunder is expressly subject to, dependent and conditioned upon (i) the issuance of the Series 2026 Bonds as provided herein and use of available net proceeds thereof to fund a portion of the Assessment Area Three Project for Assessment Area Three and (ii) the scope, configuration, size and/or composition of the Assessment Area Three Project for Assessment Area Three not materially changing from the Engineer’s Report, adopted by the District as of the Effective Date hereof, without the consent of the Developer; provided, however, such consent will not be necessary and the Developer must meet its completion obligations when the scope, configuration, size and/or composition of the Assessment Area Three Project is materially changed in response a requirement imposed by law or by a regulatory agency (to be understood as including any governmental action or requirement) other than the District.

In the event of a conflict in a provision set forth in this Agreement and in the Acquisition Agreement, the applicable provisions of the Acquisition Agreement shall control.
DEFAULT AND PROTECTION AGAINST THIRD PARTY INTERFERENCE.
A default by either party under this Agreement shall entitle the other to all remedies available at law or in equity, which may include, but not be limited to, the right of damages and/or specific performance. Notice of default must be given to the Developer by the District, and the Developer shall thereafter have a commercially reasonable time to cure the default. The District shall be solely responsible for enforcing its rights under this Agreement against any interfering third party. Nothing contained in this Agreement shall limit or impair the District’s right to protect its rights from interference by any third party.
AMENDMENTS. Amendments to and waivers of the provisions contained in this Agreement may be made only by an instrument in writing which is executed by both the District and the Developer. Additionally, this Completion Agreement may not be materially amended in a manner that (a) could have the effect of reducing the total debt service revenue collected or to be collected for payment of debt service on the Series 2026 Bonds or (b) lessens Developer’s obligations in this Agreement without the prior written consent of the Trustee for the Series 2026 Bonds, acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding.
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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

AUTHORIZATION. The execution of this Agreement has been duly authorized by the appropriate body or official of the District and the Developer, both the District and the Developer have complied with all the requirements of law, and both the District and the Developer have full power and authority to comply with the terms and provisions of this instrument.
NOTICES. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing and shall be (as elected by the person giving such notice) hand-delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:

District:	Keys Edge Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410 Attention: District Manager

With a copy to:	Billing Cochran, P.A.
515 East Las Olas Boulevard, Suite 600 Fort Lauderdale, Florida 33301 Attention: Michael J. Pawelczyk, Esq.
Developer:	Audax Land Flora LLC 7310 SW 78 Court
Miami, Florida 33143
Attn: Javier Melo, Manager

With a copy to:	ALGO Law Firm
815 Ponce de Leon Boulevard, Suite 101 Coral Gables, Florida 33134
Attention: Frank Silva, Esq.

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 PM (at the place of delivery) or on a non-business day shall be deemed received 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 changes 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 herein.

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the District and the Developer as an arm's length transaction. Both parties participated fully in the preparation of this Agreement and received the advice of counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, both parties are deemed to have drafted, chosen, and selected the language, and the doubtful language will not be interpreted or construed against either the District or the Developer.
THIRD PARTY BENEFICIARIES. Except as provided below, this Agreement is solely for the benefit of the District and the Developer and no right or cause of action shall accrue upon or by reason, to or for the benefit of any third party not a formal party to this Agreement. Nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the District and the Developer any right, remedy, or claim under or by reason of this Agreement or any of the provisions or conditions of this Agreement; and all of the provisions, representations, covenants, and conditions contained in this Agreement shall inure to the sole benefit of and shall be binding upon the District and the Developer and their respective representatives, successors, successors in title, and assigns (other than end users). Notwithstanding the foregoing or anything in this Completion Agreement to the contrary, the Trustee for the Series 2026 Bonds, on behalf of the holders of the Series 2026 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Completion Agreement and, acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding, shall be entitled to cause the District to enforce the Developer’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.

SUCCESSORS. The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of Developer and District, their receivers, trustees, successors, successors in title, and assigns.
ASSIGNMENT. This Agreement, or any monies to become due hereunder, may be assigned, provided that the assigning party first obtains the prior written approval of the other party, which approval shall not unreasonably be withheld. The Developer may not assign its obligations hereunder without the prior written consent of the Trustee acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds outstanding.
CONSTRUCTION OF TERMS. Whenever used the singular number shall include the plural, the plural the singular; the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.
CONTROLLING LAW. This Agreement and the provisions contained in this Agreement shall be construed, interpreted, and controlled according to the laws of the State of Florida.
PUBLIC RECORDS. The Developer understands and agrees that all documents of any kind provided to the District in connection with this Agreement are public records and are treated as such in accordance with Florida law.
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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of the remaining portions of this Agreement, or any part of this Agreement not held to be invalid or unenforceable.
SOVEREIGN IMMUNITY. Developer agrees that nothing in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes, as amended, or other statutes or law.
HEADINGS FOR CONVENIENCE ONLY. The descriptive headings in this Agreement are for convenience only and shall not control nor affect the meaning or construction of any of the provisions of this Agreement.
COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document.

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

IN WITNESS WHEREOF, the parties hereto execute this Completion Agreement and further agree that it shall take effect as of the date first above written.

Witnesses:

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

Print Name

By:		
Ronald Fields, Chairman Board of Supervisors

Attest: 	
Nancy Nguyen, Secretary

Print Name
	 day of 	, 2026

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE }

The foregoing instrument was acknowledged before me by means of [	] physical presence or [   ] online notarization, this    day of 	, 2026, by Ronald Fields, as Chairman of the Board of Supervisors of the CENTURY PARK SQUARE COMMUNITY DEVELOPMENT DISTRICT, who is personally known and/or produced 		 as identification.

[SEAL]		
Notary Public
Commission Expires: 	

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE }

The foregoing instrument was acknowledged before me by means of [	] physical presence or [   ] online notarization, this     day of 	, 2026, by Nancy Nguyen, as Secretary of the NEWTON ROAD COMMUNITY DEVELOPMENT DISTRICT, who is personally known to me or has produced 	 as identification.

[SEAL]		
Notary Public
Commission Expires: 	

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

AUDAX LAND FLORA LLC, a Florida
limited liability company

Witnesses:

By: 	

Javier Melo, Manager

Print Name

	 day of 	, 2026
Print Name

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [   ] online notarization, this     day of April, 2026, by Javier Melo, as Manager of AUDAX FLORA LLC, a Florida limited liability company. He is personally known to me or has produced 	 as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to the best of his or her knowledge.

Notary Public Commission:

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

Exhibit A

Assessment Area Three

All of 	, according to the Plat thereof, as recorded in Plat Book
	, Page 	 of the Public Records of Miami-Dade County, Florida.

Said lands situate in the City of Florida City within Miami-Dade County, Florida.

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Completion Agmt (Keys Edge AA3) Rev. 08-12-2026

THIS INSTRUMENT PREPARED BY AND RETURN TO:

Michael J. Pawelczyk, Esq. Billing Cochran, P.A.
515 East Las Olas Boulevard, Suite 600 Fort Lauderdale, FL 33301	

ABOVE SPACE RESERVED FOR RECORDING PURPOSES ONLY	

LIEN OF RECORD OF THE
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT BONDS, SERIES 2026 (ASSESSMENT AREA THREE PROJECT)

Notice is hereby given this     day of 	, 2026 that the Keys Edge Community Development District (the “District”), a unit of special purpose local government established pursuant to Chapter 190, Florida Statutes, the Uniform Community Development District Act of 1980, as amended (the “Act”), enjoys a governmental lien of record on the property described in Exhibit “A” attached hereto. Such lien is coequal with the lien of all state, county, district and municipal taxes, superior in dignity to all other non-federal liens, titles, and claims until paid pursuant to the Act and other applicable law. The District’s lien secures the payment of special assessments levied in accordance with the Act and other applicable law, for the purpose of funding the District’s operating and maintenance expenses, and to pay the District’s bond indebtedness for the purpose of funding various improvements incurred by the District in connection with the issuance of the $	 Keys Edge Community Development District Special Assessment Bonds, Series 2026 (Assessment Area Three Project). For information regarding the amount of the special assessments encumbering the specified real property, contact the District at:

Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, FL 33410 Telephone: 561-630-4922 Email: nnguyen@sdsinc.org

THIS CONSTITUTES A LIEN OF RECORD FOR PURPOSES OF SECTION 190.021, FLORIDA STATUTES, AND ALL OTHER APPLICABLE PROVISIONS OF THE FLORIDA STATUTES AND ANY OTHER APPLICABLE LAW.

Witnesses:

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

By:		

Ronald Fields, Chairperson
Print Name			Board of Supervisors Address 	

Print Name		 Address 	

Attest: 	
Nancy Nguyen, Secretary

	 day of 	, 2026

STATE OF FLORIDA	} COUNTY OF MIAMI-DADE  }

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this 	 day of 	, 2026, by Ronald Fields, the Chairperson of the Board of Supervisors of the Keys Edge Community Development District, respectively, on behalf of the District. She is personally known to me or has produced 		 as identification.
(SEAL)
Printed/Typed Name: 	  Notary Public-State of 	 Commission Number: 		
STATE OF FLORIDA	} COUNTY OF MIAMI-DADE  }
The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this 	 day of 	, 2026, by Nancy Nguyen, the Secretary of the Keys Edge Community Development District, respectively, on behalf of the District. She is personally known to me or has produced 			 as identification.

(SEAL)
Printed/Typed Name: 		 Notary Public-State of 	 Commission Number: 			

Exhibit “A”

LEGAL DESCRIPTION OF PROPERTY ASSESSED
(Assessment Area Three)

All of 	, according to the Plat thereof, as recorded in Plat Book
	, Page 	 of the Public Records of Miami-Dade County, Florida.

Said lands situate in the City of Florida City within Miami-Dade County, Florida.

PREPARED BY AND AFTER RECORDING RETURN TO:

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

TRUE-UP AGREEMENT
(Assessment Area Three)

This True-Up Agreement (the “Agreement”) is made and entered into this 	 day of
	, 2026 (the “Effective Date”), by and between:
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, a local unit of
special purpose government established pursuant to Chapter 190, Florida Statutes, being situated in the City of Florida City, Florida within Miami-Dade County, Florida, and whose mailing address is 2501A Burns Road, Palm Beach Gardens, Florida 33410 (the “District”); and
AUDAX LAND FLORA LLC, a Florida limited liability company, the owner and primary developer of certain lands within the boundaries of the District, whose address is 7310 SW 78 Court, Miami, Florida 33143, and its respective successors, successors-in-title, and assigns (the “Developer”).

RECITALS

WHEREAS, the District is a local unit of special purpose government established pursuant to Chapter 190, Florida Statutes, and Miami-Dade County Ordinance No. 07-106, as amended by Miami-Dade County Ordinance Nos. 07-173 and 24-35 (collectively, the “Ordinance”) for the purpose of planning, financing, constructing, installing, operating, acquiring and/or maintaining certain public infrastructure to serve the residential community within the boundaries of the District; and
WHEREAS, the Developer is the primary developer of certain lands comprised of approximately 40.571+/- gross acres located within a portion of the District, which lands are situated within the municipal limits of the City of Florida City, Florida (the “City”) within Miami-Dade County, Florida (the “County”), which lands are described with particularity in Exhibit A, attached hereto and made a part hereof (“Assessment Area Three”); and

WHEREAS, the lands within Assessment Area Three are owned by the Developer; and

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

WHEREAS, Assessment Area Three is legally described in Exhibit A, attached hereto and made a part hereof; and

WHEREAS, the Developer covenants that it has all necessary authority to develop Assessment Area Three within the District, complete the Assessment Area Three Project, as later defined herein, and enter into this Agreement with the District; and

WHEREAS, the District has determined that it is in the best interests of the present and future landowners and is a direct and special benefit to the lands within Assessment Area Three to finance, construct and deliver certain community development systems, facilities, and improvements to serve the District and the lands within the Assessment Area Three within the boundaries of the District, including, without limitation, roadway improvements, including impact fees; stormwater management and drainage facilities; a water distribution system, including applicable connection fees; a sanitary collection system, including applicable connection fees; and related soft and incidental costs, including professional fees, which public infrastructure systems, facilities and improvements are more specifically described in the Engineer’s Report Infrastructure Improvements, dated June2, 2022, as supplemented by a Second Supplemental Engineer’s Report for Infrastructure Improvements within Parcels “D,” “F,” and “E” dated August 12, 2026, each prepared by Alvarez Engineers, Inc. (the “Engineer”), as may be amended or supplemented from time to time (the “Engineer's Report”), and in the plans and specifications on file at the office of the District (collectively, the “Improvements” or the “Assessment Area Three Project”), which Engineer’s Report and Assessment Area Three Project plans and specifications are hereby incorporated into and made a part of this Agreement by reference; and

WHEREAS, the District has imposed and levied non-ad valorem special assessments on the assessable acreage of Assessment Area Three, to secure financing for the acquisition and construction of the Assessment Area Three Project directly and specially benefitting Assessment Area Three, as described in the Engineer’s Report and has validated special assessment bonds to fund the planning, design, permitting, construction and/or acquisition of such Assessment Area Three Project; and
WHEREAS, the District has imposed and levied such non-ad valorem special assessments (the “Assessment Area Three Special Assessments”) against the assessable acreage of Assessment Area Three in accordance with the provisions of Chapters 170, 190 and 197, Florida Statutes, for purposes of paying certain $	 Keys Edge Community Development District Special Assessment Bonds, Series 2026 (Assessment Area Three Project), as described in the Assessment Methodology, as later defined (collectively, the “Series 2026 Bonds”) to be issued pursuant to Chapter 190, Florida Statutes; and

WHEREAS, the Developer is responsible for the payment of all taxes and assessments on the lands it owns within Assessment Area Three, including the Assessment Area Three Special Assessments; and

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

WHEREAS, the District has accepted and utilized the provisions of the Master Assessment Methodology, dated April 29, 2024 (the “Master Methodology”) and the final Third Supplemental Assessment Methodology Report, dated 	, 2026 (the “Supplemental Methodology”), describing the assessment allocation for the Assessment Area Three Special Assessments levied in connection with the Series 2026 Bonds to be issued by the District, both the Master Methodology and the Supplemental Methodology having been prepared by Special District Services, Inc., as such may be amended and further supplemented from time to time, incorporated by specific reference thereto and made a part hereof (collectively, the “Assessment Methodology”); and

WHEREAS, the Assessment Area Three Special Assessments are initially levied on all
40.57 +/- gross acres comprising Assessment Area Three, and as platting of the lands within the District occurs, the Assessment Area Three Special Assessments will be assigned to the platted lots in the Development, as defined in the Indenture, as later defined herein, on a first platted, first assigned basis in accordance with the Supplemental Methodology; and

WHEREAS, the District relies upon and intends to utilize the true-up analysis and mechanism set forth in Section 7.0 of the Supplemental Methodology; and

WHEREAS, the District and the Developer agree pursuant to the terms of this Agreement to provide, if required, for certain payments to the District in accordance with the true-up analysis and mechanism referenced above and further described herein; and

WHEREAS, unless otherwise defined herein, all capitalized terms shall be as defined in the Assessment Methodology and the Indenture, as applicable, which Indenture is collectively defined as the Master Trust Indenture dated as of December 1, 2024 and the Third Supplemental Trust Indenture dated as of August 1, 2026 (collectively, the “Indenture”), each between the District and
U.S. Bank Trust Company, National Association, as trustee (the “Trustee”) and as such Indenture may be further amended and supplemented from time to time.
NOW THEREFORE, in consideration of the mutual covenants herein contained, and for Ten and no/100ths ($10.00) Dollars from the District to the Developer and other good and valuable consideration between the parties, the receipt and sufficiency of which are hereby acknowledged by the parties, and subject to the terms and conditions hereof, the parties agree as follows:

INCORPORATION OF RECITALS. The recitals stated above are true and correct and by this reference are incorporated by reference as a material part of this Agreement.
TRUE-UP PROVISIONS.

As stated in the Assessment Methodology, the allocation of debt is a continuous process until the development plan, constituting the 232 residential single-family units to be developed within Assessment Area Three, as described in Table 2, Table C, Table D, and Table F of the Supplemental Methodology (the “Development Plan” or the “Total Assessable Lots/Units for
3
True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

Assessment Area Three”), is completed. Prior to platting, replatting, the recording of a declaration of condominium, or other means of identifying individual lots (the “Planned Assessable Units”), the initial Assessment Area Three Special Assessments shall be levied by the District on an equal per acre basis to all acreage of Assessment Area Three.

The true-up mechanism under this Agreement applies to Assessment Area Three. As lands of Assessment Area Three that are benefitted by the Assessment Area Three Project are developed, the allocation of costs and benefit for the Assessment Area Three Project is based on an estimated number and type of dwelling units within Assessment Area Three for the Development Plan that are developed into Planned Assessable Units, as shown and described in Table C, Table D, and Table F to the Supplemental Methodology.

The Supplemental Methodology, particularly Section 3.0, Section 4.0, Table C, Table D, and Table F therein, allocates the benefit to the different categories of improvements that constitute the Assessment Area Three Project, utilizing various measures based upon the estimated number and type of residential units that are directly and specially benefited by the Assessment Area Three Project and constitute the Planned Assessable Units. Correspondingly, consistent with Section
7.0 of the Supplemental Methodology, whenever a plat, re-plat, site plan amendment, declaration of condominium, amendment to declaration of condominium, or revision thereof is submitted for processing to the local governing authority that has jurisdiction thereof, the District must allocate a portion of its debt over Assessment Area Three according to the Supplemental Methodology. In addition, the District must prevent any buildup of debt on Unassigned Properties, which are defined herein as gross acres that have not been assigned the Assessment Area Three Special Assessments through the platting, recording of a declaration of condominium, or other means of identifying individual lots. To prevent the buildup of debt on the Unassigned Properties, the District shall perform a true-up test to ensure that each residential unit is assessed no more than the pro rata amount (based on total Assessment Area Three Project costs allocated and the total allocation of par debt) of a maximum annual debt service for the particular type of residential unit, as described in Table E and Table F of the Supplemental Methodology, and to determine potential remaining assessable residential units (the ”Remaining Assessable Units”) within Assessment Area Three that have not been or will not be developed.
The true-up test shall be as follows:
Based on the Development Plan for Assessment Area Three, the District has fairly and reasonably allocated the benefit and will assign the debt across the various unit types based on the equivalent residential unit (“ERU”) factor attributable to each residential unit type, in this case each of the single-family units, as described in Section 4.0, Table C, Table D, and Table F of the Supplemental Methodology.

Notwithstanding that which is set forth above and in the Supplemental Methodology, if future platting or filing a declaration of condominium results in significant changes in land use or proportion of benefit per acre, the allocation methodology of the Assessment
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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

Methodology may no longer be applicable and the District may determine, in its discretion, to revise the allocation methodology.

In accordance with Table C, Table D, Table E, and Table F of the Supplemental Methodology, based on a Bond size of $	 at an average interest rate of 	%, the maximum annual debt service for the Series 2026 Bonds will be approximately $		, which has NOT been grossed up to include the 1% County Tax Collector fee, the 1% County Property Appraiser fee, and 4% discount for early payment of taxes (“Maximum Annual Debt Service”).

Until initial plat approval or recording or declaration of condominium, the debt associated with the Assessment Area Three Project is initially distributed across the lands of Assessment Area Three on an equal acreage basis across the 40.571+/- gross acres of Assessment Area Three, as shown in Table F of the Supplemental Methodology. As plats are approved or declarations of condominium are recorded, the lands within Assessment Area Three are assessed on a first platted, first assigned basis in the manner described in the Supplemental Methodology. As platting of the Development Plan continues to occur, the Assessment Area Three Special Assessments will be assigned to the platted lots in Assessment Area Three on a first platted, first assigned basis in accordance with the Supplemental Methodology. For purposes of the Series 2026 Bonds, prior to final plat approval for the entirety of the lands within Assessment Area Three, based on a Bond size of
$	, each acre of land of remaining unplatted or otherwise unassigned in Assessment Area Three within the District will be assessed in accordance with Table F of the Supplemental Methodology.
In accordance with Section 7.0 of the Assessment Methodology, a true-up test shall be performed whenever a plat, re-plat, site plan amendment, declaration of condominium or amendment to declaration of condominium, or other revision to the Development Plan is submitted for processing to the local governing authority having jurisdiction thereof. At that time, the District assumes that the Development Plan will be completed within Assessment Area Three and that the total number of residential units constructed equals the Total Assessable Units for Assessment Area Three. The District then ascertains the number of Planned Assessable Units in the proposed plat, replat or declaration of condominium and ascertains the then current amount of Remaining Assessable Units

If the Development Plan is unchanged or the Planned Assessable Units are equal to the Total Assessable Units, then no debt reduction payment must be made and no true-up payment is required.

However, if at any time any true-up test calculation results in the sum of the Planned Assessable Units and the Remaining Assessable Units are less than the Total Assessable Units as set forth in Table D of the Supplemental Methodology, then, within ten
(10) days following its receipt of written notice from the District or the District Manager on
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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

behalf of the District that a true-up payment is due, the Developer, as applicable, must make a debt reduction prepayment (including accrued interest) to the District in an amount sufficient to retire an amount of the Series 2026 Bonds then outstanding such that the par amount of the outstanding Series 2026 Bonds plus accrued interest is at a level that can be supported by the new maximum annual debt service based on the change in the Development Plan.

Correspondingly, consistent with Section 7.0 of the Assessment Methodology, whenever any plat, re-plat, declaration of condominium, site plan, or revision thereof is submitted to the applicable local governing authority and which changes the product types or product mix of the Development Plan over Assessment Area Three and as described in Tables C and F of the Supplemental Methodology, a true-up test shall be performed. Not later than fifteen (15) days after the date the plat, re-plat, declaration of condominium, site plan, or revision thereof is submitted to the applicable governing authority, the Developer shall inform the District of such proposed change in the Development Plan. Any payment resulting from such true-up test would be due to the District within ten (10) days of the plat, re-plat, declaration of condominium, site plan, or revision being approved by the local government entity reviewing the same or when the change in Development Plan is implemented, whichever is sooner.

In the event that additional land not currently subject to the Assessment Area Three Special Assessments levied by the District is developed in such a manner as to receive direct and special benefits from the Assessment Area Three Project described herein, it will be necessary for the District to re-apply the methodology for allocating the Assessment Area Three Special Assessments to include such parcels. The additional land will, as a result of re-applying the assessment methodology of the Assessment Methodology, then be allocated an appropriate share of the Assessment Area Three Special Assessments while all currently assessed parcels will receive a relative reduction in their assessments. This pro-rata adjustment shall still provide the same amount of revenue from such Assessment Area Three Special Assessments necessary for repayment of the Series 2026 Bonds.
Additionally, at the time of approval of a final plat or re-plat pertaining to the portion of Assessment Area Three being developed pursuant to the Development Plan, if any debt associated with the Series 2026 Bonds remains unallocated, then the Developer shall make a payment to the District sufficient to retire all remaining unallocated debt, which payment shall include accrued interest.
If the Developer transfers ownership of Assessment Area Three, or any portion thereof, said Assessment Area Three will maintain the allocated number of and types of units in the Development Plan described in Table C and Table F of the Supplemental Methodology. If the Development Plan is changed or said Assessment Area Three, or portions thereof are subdivided, or platted or re-platted, impacted by the recording of a declaration of condominium, or site plan or revision, the true-up test will be performed and the Developer shall be responsible to make the debt reduction payment described herein after calculation of the true-up.
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The Developer shall not transfer any portion of Assessment Area Three to any third party other than (a) platted and fully-developed lots to homebuilders and/or homebuyers, or (b) portions of Assessment Area Three exempt from assessments to the County, the City, the District, or other governmental agencies, except in accordance with Section 2(h)(ii) below. Any transfer of any portion of Assessment Area Three pursuant to this Section 2(h)(i) shall terminate this Agreement as to such portion of Assessment Area Three and constitute an automatic release of such portion of Assessment Area Three from the scope and effect of this Agreement. Any violation of this provision by the Developer shall constitute a default under this Agreement.

(ii)  The Developer shall not transfer any portion of Assessment Area Three to any third party, except as permitted by Section 2(h)(i) above, without making any debt reduction payment (plus accrued interest) that results from a true-up tests analysis that will be performed by the District prior and as a condition to such transfer (“Transfer Condition”). Any transfer that is consummated pursuant to this Paragraph 2(h)(ii) shall operate as a release of the Developer from their respective obligations under this Agreement as to such portion of Assessment Area Three that is subject to such transfer, but only to the extent arising from and after the date of such transfer and satisfaction of the Transfer Condition, and the transferee shall be deemed to have assumed the Developer’s obligations in accordance herewith and shall be deemed the “Developer” from and after such transfer for all purposes as to such portion of Assessment Area Three so transferred. Any violation of this provision by the Developer shall constitute a default under this Agreement.

If the Developer proposes to transfer or transfers any portion of Assessment Area Three on which Assessment Area Three Special Assessments are imposed to a unit of local, state or federal government, or similarly exempt entity (without the consent of that entity to the imposition of the Assessment Area Three Special Assessments thereon), all future unpaid Assessment Area Three Special Assessments for such transferred portion of Assessment Area Three shall become due and payable to the District immediately prior to such transfer without further action of the District.
All obligations of the Developer in this Section 2 shall constitute a lien on the Subject Property until paid in full.
VALIDITY OF ASSESSMENTS. The Developer agree that the Assessment Area Three Special Assessments are legal, valid and binding liens on the property against which assessed from the date of imposition thereof until paid, coequal with the lien of state, county, municipal and school board taxes. The Developer hereby waives and relinquishes any rights it may have to challenge, object to or otherwise fail to pay such Assessment Area Three Special Assessments.

PREPAYMENT WAIVER. The Developer, on behalf of itself and its respective successors and assigns, including homebuyers, covenants and agrees that it shall not exercise any right pursuant to Section 170.09, Florida Statutes, or any other law or other source of rights to
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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

pre-pay Assessment Area Three Special Assessments, without interest, within the thirty days after the Assessment Area Three Project has been completed and the District Board of Supervisors has adopted a resolution accepting the Assessment Area Three Project, and such right is hereby deemed waived.

COMPLETE UNDERSTANDING. The parties agree that this instrument embodies the complete understanding of the parties with respect to the subject matter of this Agreement and supersedes all other agreements, verbal or otherwise.
AMENDMENT. This Agreement may be amended only by a written instrument signed by both parties. If any party fails to enforce their respective rights under this Agreement or fails to insist upon the performance of the other party's obligations hereunder, such failure shall not be construed as a permanent waiver of any rights as stated in this Agreement. Notwithstanding anything herein to the contrary, this Agreement may not be materially amended in a manner that (a) could have the effect of reducing the total debt service revenue collected or to be collected for payment of debt service on the Series 2026 Bonds or (b) lessens Developer’s obligations in this Agreement without the prior written consent of the Trustee for the Series 2026 Bonds, acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding. The term “Majority,” as used herein, shall mean more than fifty (50%) percent.

NOTICES. All notices, requests, consents and other communications required or permitted under this Agreement shall be in writing and shall be (as elected by the person giving such notice) hand-delivered by prepaid express overnight courier or messenger service, telecommunicated, or mailed (airmail if international) by registered or certified (postage prepaid), return receipt requested, to the following addresses:

District:	Keys Edge Community Development District c/o Special District Services, Inc.
2501A Burns Road
Palm Beach Gardens, Florida 33410 Attention: District Manager

With a copy to:	Billing Cochran, P.A.
515 East Las Olas Boulevard, Suite 600 Fort Lauderdale, Florida 33301 Attention: Michael J. Pawelczyk, Esq.

Developer:	Audax Land Flora LLC 7310 SW 78 Court
Miami, Florida 33143
Attn: Javier Melo, Manager

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

With a copy to:	ALGO Law Firm
815 Ponce de Leon Boulevard, Suite 101 Coral Gables, Florida 33134
Attention: Frank Silva, Esq.

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 PM (at the place of delivery) or on a non-business day shall be deemed received 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 changes 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 herein.

SEVERABILITY. The parties agree that if any part, term or provision of this Agreement is held to be illegal or in conflict with any law of the State of Florida or with any federal law or regulation, such provision shall be severable, with all other provisions remaining valid and enforceable.

CONTROLLING LAW. This Agreement shall be construed under the laws of the State of Florida.
AUTHORITY. The execution of this Agreement has been duly authorized by the appropriate body or official of all parties hereto, each party has complied with all the requirements of law, and each party has full power and authority to comply with the terms and provisions of this Agreement.
REMEDIES. A default by any party under the Agreement, including, but not limited to, the failure of the Developer to make a true-up payment as required by Section 2 of this Agreement, shall entitle the others to all remedies available at law or in equity, which shall include but not be limited to the right of damages, injunctive relief and specific performance and specifically include the ability of the District to enforce any and all payment obligations under this Agreement through the imposition and enforcement of a contractual or other lien on Assessment Area Three, or portion thereof, owned by the Developer, as applicable, and located within the District.

COSTS AND FEES. In the event that either party is required to enforce this Agreement by court proceedings or otherwise, then the parties agree that the prevailing party shall be entitled to recover from the other all costs incurred, including reasonable attorney's fees and costs for trial, alternate dispute resolution, or appellate proceedings.

THIRD-PARTY BENEFICIARIES. This Agreement is solely for the benefit of the formal parties herein and no right or cause of action shall accrue upon or by reason hereof, to or
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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

for the benefit of any third party not a formal party hereto. Except as provided below, nothing in this Agreement expressed or implied is intended or shall be construed to confer upon any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the provisions, representations, covenants and conditions herein contained shall inure to the sole benefit of and shall be binding upon the parties hereto and their respective representatives, successors and assigns (other than end users). Notwithstanding the foregoing or anything in this Agreement to the contrary, the Trustee for the Series 2026 Bonds, on behalf of the holders of the Series 2026 Bonds, shall be a direct third-party beneficiary of the terms and conditions of this Agreement and, acting at the direction of the holders owning a Majority of the aggregate principal amount of the Series 2026 Bonds then outstanding, shall be entitled to cause the District to enforce the Developer’s obligations hereunder. The Trustee shall not be deemed to have assumed any obligations hereunder.

ARM'S LENGTH TRANSACTION. This Agreement has been negotiated fully between the parties in an arm's length transaction. The parties participated fully in the preparation of this Agreement with the assistance of their respective counsel. In the case of a dispute concerning the interpretation of any provision of this Agreement, the parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party.

SUCCESSORS.  The rights and obligations created by this Agreement shall be binding upon and inure to the benefit of the Developer, and the District, their respective heirs, executors, receivers, trustees, successors, successors-in-title, and assigns.
CONSTRUCTION OF TERMS. Whenever used the singular number shall include the plural, the plural the singular; the use of any gender shall include all genders, as the context requires; and the disjunctive shall be construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.
CAPTIONS. The captions for each section of this Agreement are for convenience and reference only and in no way define, describe, extend, or limit the scope of intent of this Agreement, or the intent of any provision hereof.

ASSIGNMENT.  This Agreement, or any monies to become due hereunder, may be assigned, provided that the assigning party first obtains the prior written approval of the other party, which approval shall not unreasonably be withheld; provided, however, the Developer may not assign its respective duties or obligations under this Agreement except in accordance with the terms of Section 2(h) above. This Agreement, including, without limitation, all true-up obligations hereunder, shall constitute a covenant running with the title to Assessment Area Three, binding upon the Developer, and their respective successors and assigns as to Assessment Area Three or portions thereof, except as expressly provided in Section 2(h) above.

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

SOVEREIGN IMMUNITY. Developer agrees that nothing in this Agreement shall constitute or be construed as a waiver of the District’s limitations on liability contained in Section 768.28, Florida Statutes, as amended, or other statutes or law.

COUNTERPARTS AND EXECUTION. This Agreement may be executed in any number of counterparts, each of which when executed and delivered shall be an original; however, all such counterparts together shall constitute, but one and the same instrument. Signature and acknowledgment pages, if any, may be executed by facsimile, which shall be good as an original, and may be detached from the counterparts and attached to a single copy of this document to physically form one document.
COVENANT AND RECORDATION. The Developer, as landowners, agree that the obligations imposed upon it by this Agreement are valid and enforceable and shall be covenants running with the lands described in Exhibit A hereto, which exhibit is again incorporated herein by reference, creating an obligation and one which is binding upon their respective successor owners and assigns. The District shall record this Agreement in the Public Records of Miami-Dade County, Florida, against the lands so described.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

IN WITNESS WHEREOF, the parties hereto execute this True-Up Agreement and further agree that it shall take effect as of the Effective Date first above written.

WITNESSES:	KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT

Print Name:		By:	
Address: 		Ronald Fields, Chairman Board of Supervisors

Date: 	, 2026

Print Name: 	
Address: 		ATTEST:

Nancy Nguyen, Secretary
STATE OF FLORIDA	}
COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ } online notarization, this    day of 	, 2026, by Ronald Fields, as Chairman of the Board of Supervisors of the KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, who is personally known to me and/or produced
	 as identification.
[SEAL]		
Notary Public
Commission Expires: 	

STATE OF FLORIDA	}
COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ } online notarization, this   day of 	, 2026, by Nancy Nguyen, as Secretary of the KEYS EDGE COMMUNITY  DEVELOPMENT  DISTRICT,  who  is  personally  known  to  me  or  has  produced
	 as identification.

[SEAL]		
Notary Public
Commission Expires: 	

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

AUDAX LAND FLORA LLC, a Florida
limited liability company

Witnesses:

By: 	

Javier Melo, Manager

Print Name
Address: 	
	 day of 	, 2026

Print Name
Address: 	

STATE OF FLORIDA	}
COUNTY OF MIAMI-DADE	}

The foregoing instrument was acknowledged before me by means of [  ] physical presence or [  ] online notarization, this     day of 	, 2026, by Javier Melo, as Manager of AUDAX LAND FLORA LLC LLC, a Florida limited liability company. He is personally known to me or has produced 	 as identification and who being duly sworn, deposes and says that the aforementioned is true and correct to the best of his knowledge.

Notary Public Commission:

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

Exhibit A

LEGAL DESCRIPTION
KEYS EDGE CDD (ASSESSMENT AREA THREE)

All of 	, according to the Plat thereof, as recorded in Plat Book
	, Page 	 of the Public Records of Miami-Dade County, Florida.

Said lands situate in the City of Florida City within Miami-Dade County, Florida.

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True-Up Agmt (Keys Edge AA3) Rev. 08-17-2026

RESOLUTION NO. 2026-06

A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, ESTABLISHING A REGULAR MEETING SCHEDULE FOR FISCAL YEAR 2026/2027 AND SETTING THE TIME AND LOCATION OF SAID DISTRICT MEETINGS; AND PROVIDING AN EFFECTIVE DATE.

WHEREAS, it is necessary for the Keys Edge Community Development District (the "District") to establish a regular meeting schedule for fiscal year 2026/2027; and

WHEREAS, the Board of Supervisors (the “Board”) of the District has set a regular meeting schedule, location and time for District meetings for fiscal year 2026/2027 which is attached hereto and made a part hereof as Exhibit “A”.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT, MIAMI-DADE COUNTY, FLORIDA, AS FOLLOWS:

Section 1.   The above recitals are hereby adopted by the Board.

Section 2.  The regular meeting schedule, time and location for meetings for fiscal year 2026/2027 which is attached hereto as Exhibit “A” is hereby adopted and authorized by the Board to be published.
PASSED, ADOPTED and EFFECTIVE this 26th day of August, 2026.

ATTEST:	KEYS EDGE
COMMUNITY DEVELOPMENT DISTRICT

By:			By:		 Secretary/Assistant Secretary			Chairperson/Vice Chairperson

KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027 REGULAR MEETING SCHEDULE
NOTICE IS HEREBY GIVEN that the Board of Supervisors (the “Board”) of the Keys Edge Community	Development	District	(the	“District”)	will	hold	Regular	Meetings
	 on the following dates:

October 28, 2026
January 27, 2027
February 24, 2027
March 24, 2027
April 28, 2027
May 26, 2027
June 23, 2027
July 28, 2027
August 25, 2027
September 22, 2027

The purpose of the meetings is for the Board to consider any District business which may lawfully and properly come before the Board. Meetings are open to the public and will be conducted in accordance with the provisions of Florida law for community development districts. Copies of the Agenda for any of the meetings may be obtained from the District’s website or by contacting the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922, prior to the date of the particular meeting.

From time to time one or two Board members may participate by telephone; therefore, a speaker telephone will be present at the meeting location so that Board members may be fully informed of the discussions taking place. Said meeting(s) may be continued as found necessary to a time and place specified on the record.

If any person decides to appeal any decision made with respect to any matter considered at these meetings, such person will need a record of the proceedings and such person may need to ensure that a verbatim record of the proceedings is made at his or her own expense and which record includes the testimony and evidence on which the appeal is based.
In accordance with the provisions of the Americans with Disabilities Act, any person requiring special accommodations or an interpreter to participate at any of these meetings should contact the District Manager at nnguyen@sdsinc.org and/or toll free at 1-877-737-4922 at least seven (7) days prior to the date of the particular meeting.
Meetings may be cancelled from time to time with no advertised notice.
KEYS EDGE COMMUNITY DEVELOPMENT DISTRICT
www.keysedgecdd.org
PUBLISH: MIAMI HERALD	10/19/26