Change from 2016 Budget ($) 2016 Approved Budget Approved Budget

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1 Operating including Pooled Reserves Change from 2016 ($) Change from 2016 (%) PAYROLL EXPENSES Manager $46,800 $46,800 $0 0% ER Payroll Taxes $3,700 $3,678 -$22-1% Manager Benefits $6,000 $7,000 $1,000 17% Payroll Fees $2,210 $2,551 $341 15% Total PAYROLL EXPENSES $58,710 $60,029 $1,319 2% ADMINISTRATIVE EXPENSES Bad Debt Expense $0 $0 $0 0% Division Fees $825 $825 $0 0% Federal/State/Local Tax $0 $0 $0 0% HICSA/North Assoc Fees $22,410 $40,235 $17,825 80% Legal & Accounting Fees $12,000 $9,350 -$2,650-22% Licenses/Taxes/Permits $612 $562 -$50-8% Office & Administrative $7,192 $4,382 -$2,810-39% Community Website $650 $650 $0 0% Total ADMINISTRATIVE EXPENSES $43,689 $56,004 $12,315 28% UTILITY EXPENSES Electricity $37,808 $39,443 $1,635 4% Telephone $8,820 $10,068 $1,248 14% Water/Sewer $20,000 $22,023 $2,023 10% Trash/Waste Removal $75,840 $84,576 $8,736 12% Total UTILITY EXPENSES $142,468 $156,110 $13,641 10% MAINTENANCE & REPAIRS Janitorial $46,700 $51,600 $4,900 10% Building & Exterior $73,310 $74,575 $1,265 2% Elev. Maint. Contract $8,830 $8,730 -$100-1% Pest Control $13,455 $8,455 -$5,000-37% Pool Maint. & Supplies $6,780 $6,280 -$500-7% Gates/Cameras Security $12,984 $9,734 -$3,250-25% Piper/Fire Security $9,035 $9,535 $500 6% Landscaping/ Grounds $32,652 $36,092 $3,440 11% Fitness Center/Business Center/Clubhouse $1,500 $1,000 -$500-33% Total MAINTENANCE & REPAIRS $205,246 $206,001 $755 0% INSURANCE Flood Insurance $27,601 $33,136 $5,535 20% Prop. & Liab. Insurance $132,008 $97,689 -$34,320-26% Insurance Financing (new line item) $2,252 $2,247 -$5 0% Total INSURANCE $161,862 $133,072 -$28,790-18% Total OPERATING EXPENSES $611,975 $611,217 -$758 0% POOLED RESERVES $148,000 $156,500 $8,500 6% TOTAL OPERATING AND RESERVE EXPENSES $759,975 $767,717 $7, %

2 Comments PAYROLL EXPENSES Manager/ Maintenance Man $ 46,800 $ 46,800 Salary for on-site manager ER Payroll Taxes $ 3,700 $ 3,678 Employee Benefits $ 6,000 7,000 FICA/ 7.65% ($3,582), FUTA at.6% of first $7,000 ($84), 0.1% for first $7,000 ($14) $ Workers Comp ($1,000 estimate), Health & Dental Insurance ($500/mo/ employee) Payroll Fees $ 2,210 $ 2,551 ADP Processing $89.20/biweekly + 10% assumed rate increase Total PAYROLL EXPENSES $ 58,710 $ 60,029 HARBOUR PLACE CITY HOMES CONDOMINIUM ASSOCIATION Operating with Line Item Detail ADMINISTRATIVE EXPENSES Bad Debt Expense $0 $ - No anticipated bad debt in 2017 given very limited A/R Division Fees $825 $ 825 $4.00 X 206 units = $825 payable in December 2017 Federal/State/Local Taxes $0 $ - No rental income anticipated, limited interest income ==> no tax liability anticipated HICSA/North Assoc Fees $22,410 $ 40,235 $39, for HICSA (2017 including increase) and $945 for North Legal & Accounting Fees $12,000 $ 9,350 $9,000 for legal expenses; $350 for tax return prep Licenses/Taxes/Permits $612 $ 562 Pool permit ($275); 3 elevator permits ($75 each); State Annual Report ($62) Office & Administrative $7,192 $ 4,382 $183 per quarter with Pitney Bowes; Postage ($250); paper, ink, envelopes, clubhouse supplies ($1,000); 1099 forms ($40); carbonite backup ($60); IT services ($400); holiday gifts ($400); Extras - signs, etc. ($1,500) Community Website $650 $ 650 AtHomeNet annual contract cost Total ADMINISTRATIVE EXPENSES $43,689 $ 56,004

3 Comments UTILITY EXPENSES Electricity $37,808 $ 39,443 Based on actual 2016 YTD costs; includes a 3% cost increase Telephone $8,820 $ 10,068 $839/mo Water/Sewer $20,000 $ 22,023 Based on actual 2016 YTD costs + est. $2,500 for transmitter replacements Trash/Waste Removal $75,840 $ 84,576 Rate of approx. $6,600/mo (includes all taxes for water, sewer, trash). + 3% increase; include 6 bulk pickups at $500 per pickup Total UTILITY EXPENSES $142,468 $ 156,110 MAINTENANCE & REPAIRS Janitorial $46,700 $ 51,600 Building & Exterior $73,310 $ 74,575 $4,300.00/ month; includes 62 hours per week of janitoral (M-S), garage pressure washing, stairwell pressure washing, tile floor cleaning, carpet cleaning, pool furniture & umbrellas cleaning $29,000 in non-project specific expenses based on prior years' history (plumbing, roofing, electrical, structural repairs, misc. supplies;) + $8,000 gutter/downspout maintenance; $100 common area HVAC filters; $500 dryer vent cleaning ; $875 trash chute maintenance; $9,000 breezeway floors cleanings & repairs; $500 laundry machine inspection & repair; $1,600 light bulbs; $900 propane; $4,500 condensation lines maintenance; $2,500 drainage maintenance; $4,000 exterior light repairs, ER balasts; $2,000 holiday lights; $500 for landscape lighting; $600 paver relevel ; $2,500 stripe & stencil concrete; $7,500 stucco patch, sealing, repair Elev Maint Contract $8,830 $ 8,730 $570/month with Right Way + $390 for inspections + $1,500 for unanticipated repairs Pest Control $13,455 $ 8,455 $2,815 annual termite bond (Dec. 2017); $240/mo. pest; $80/ mo. rodent; $1,200 for drywood termite treatments; $600 for unanticipated extras Pool/ Fountain Maint & Supplies $6,780 $ 6,280 $440/ mo. + $1,000 for unanticipated equipment replacements, repairs Gates/Cameras Security $12,984 $ 9,734 $350 for police presence (Gasparilla); Doorking web-based system ($32/ month); $9,000 additional funds for misc. gate, fob, camera issues Piper/Fire Security $9,035 $ 9,535 Landscaping/Grounds $32,652 $ 36,092 $719 (annual sprinkler); $340 x 3 (quarterly sprinkler), $868 (Fire Alarm), $360 (alarm monitoring), $400 (Fire Extinguisher inspection), est. $500 for extinguisher charging (41 extinguishers due for hydro test in 2017); $168 (hydrants inspection). Extras: $5,500 for sprinkler repairs; strobe repairs, panel issues, leaks, etc. $1,591/ month, $2,500 oak tree trimming, $2,800 palm tree trimming (includes reclinatas), $3,500 annuals four times per year, $1,500 irrigation repairs; $4,200 for extras (e.g., tree removals, minor plant replacements); $2,500 mulch Fitness Center/ Business Center/ Clubhouse $1,500 $ 1,000 $1,000 for repairs to gym or fitness center equipment and other minor items Total MAINTENANCE & REPAIRS $205,246 $ 206,001 INSURANCE HARBOUR PLACE CITY HOMES CONDOMINIUM ASSOCIATION Operating with Line Item Detail Flood Insurance $27,601 $ 33,136 Used 10% increase over 2016 actual premiums, based on discussions with broker Prop & Liab. Insurance $132,008 $ 97,689 Used 5% increase over 2016 actual premiums, based on discussions with broker Insurance Financing $2,252 $ 2,247 Used 5% increase over 2016 actual interest costs, based on discussions with broker Insurance Appraisal $ - Required every 3 years per Florida Statute (last done in 2016) Total INSURANCE $ 161,862 $ 133,072

4 Maintenance Fee Schedule Unit Unit Square Ownership # Type Feet Percentage Monthly Fee Annual Fee 1101 A % $ $2, C % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, A % $ $2, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, B % $ $3, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, C % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, A % $ $2, B % $ $4, B % $ $4, A % $ $2, A % $ $2,724.11

5 Maintenance Fee Schedule 1213 A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, B % $ $3, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $4, B % $ $4, A % $ $2, A % $ $2, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, C % $ $4, A2L % $ $3, A2L % $ $3, B % $ $3, B % $ $3, A % $ $2, A % $ $2, B2L % $ $5, B2L % $ $5, A2L % $ $3, A2L % $ $3, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B2L % $ $5, B2L % $ $5, A2L % $ $3, A2L % $ $3, B % $ $3, B % $ $3, A % $ $2,724.11

6 Maintenance Fee Schedule 1324 B % $ $3, B % $ $3, B % $ $3, B2L % $ $5, B2L % $ $5, A % $ $2, A % $ $2, B2L % $ $5, B2L % $ $5, A2L % $ $3, A2L % $ $3, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, C % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A % $ $2, A % $ $2, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, AY % $ $2, AY % $ $2, A % $ $2, C % $ $4, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2,489.82

7 Maintenance Fee Schedule 2211 B % $ $3, B % $ $3, A % $ $2, A % $ $2, A % $ $2, A % $ $2, B % $ $3, B % $ $3, B % $ $4, B % $ $4, A % $ $2, A % $ $2, AY % $ $2, AY % $ $2, A % $ $2, C % $ $4, A2L % $ $3, A2L % $ $3, B % $ $3, B % $ $3, B2L % $ $5, B2L % $ $5, A % $ $2, A % $ $2, B % $ $3, B % $ $3, A2L % $ $3, A2L % $ $3, A2L % $ $3, A2L % $ $3, B % $ $3, B % $ $3, B2L % $ $5, B2L % $ $5, A % $ $2, A % $ $2, AY % $ $2, AY % $ $2, AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $5, AHC % $ $4, AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $5,567.12

8 Maintenance Fee Schedule 4109 AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $7, AH % $ $7, AH % $ $7, AH % $ $7, AH % $ $7, AH % $ $7, AH % $ $5, AH % $ $5, AH % $ $5, AH % $ $5, , % $63, $767,716.74

9 Harbour Place City Homes Condominium Association, Inc. Pooled Reserve Project Schedule In accordance with F.S. Section (2)(f), below are estimates of the costs of all deferred maintenance and replacement projects expected to cost more than $10,000 as well as several that are below the $10,000 threshold. The list of projects, assumed replacement costs and useful lives are based on the Association's 2016 reserve study as well as current Board estimates. Estimated Useful Life Estimated Remaining Life Estimated Replacement Year 2016 Estimated Cost Reserve Exterior Building Elements Balconies, Concrete, Repairs and Coating Applications $21,625 Balconies and Breezeways, Railings, Steel $185,500 Breezeways, Concrete, Repairs and Coating Applications $89,550 Ceilings, Vinyl $35,750 Gutters and Downspouts, Aluminum, Asphalt Shingle Roofs $79,800 Gutters and Downspouts, Aluminum, Concrete Tile Roofs $56,700 Hallway Decorations, Artificial Trees $36,000 Light Fixtures, Exterior $37,400 Light Fixtures, Stairwells and Breezeways $65,100 Mailboxes $14,420 Roofs, Asphalt Shingles (Incl. Flat Roofs) $325,325 Roofs, Concrete Tiles $328,000 Soffit and Fascia, Aluminum, Shingled Roof $14,350 Soffit and Fascia, Aluminum, Tile Roof $14,350 Dryer Vent Hoods, Remaining $29,640 Walls, Stucco, Breezeways, Paint Finishes and Capital Repairs $49,650 Walls, Stucco, Exterior, Paint Finishes and Capital Repairs $344,740 Windows and Doors, Common $88,250 Building Services Elements Elevator Cab Finishes $27,000 Elevators, Hydraulic, Pumps and Controls $225,000 Elevators, Hydraulic, Cylinders $108,000

10 Life Safety System (Control Panels and Emergency Devices) $61,000 Security System, Cameras and Recording Equipment $25,000 Property Site Elements Asphalt Pavement, Crack Repair, Patch and Seal Coat $9,478 Asphalt Pavement, Mill and Overlay $75,263 Catch Basins, Inspections and Capital Repairs $8,250 Fences, Steel (Includes Pool Fence) $20,800 Gate Entry System (Includes Key Fob Access System) $25,000 Gate Operators, Bi-parting, Phased $19,200 Gate Operators, Swing Arm $9,600 Gates, Steel, Bi-parting $13,500 Landscape, Partial Replacements $20,000 Pavers, Masonry $51,600 Clubhouse and Pool House Elements Exercise Equipment, Cardiovascular, Phased $25,000 Exercise Equipment, Strength Training, Phased $28,000 HVAC Equipment, Split Systems, Phased $25,200 Interior Renovation, Complete $80,000 Interior Renovations, Partial $36,500 Pool Elements Arbor, Steel $8,580 Furniture, Renovation $15,000 Furniture, Replacement $32,000 Pavers, Masonry, Pool Deck (Includes Clubhouse Entrance) $26,625 Pool Finish, Plaster $20,700 Garage Elements Concrete, On-grade, Partial $30,000 Light Fixtures $15,300

11 Harbour Place City Homes Condominium Association, Inc. 30 Year Pooled Reserve Funding Plan Starting Balance $867,980 $970,417 $692,294 $801,496 $923,339 $1,032,249 $952,000 $655,856 $725,003 $883,266 Expenses -$56,000 -$436,005 -$48,898 -$36,500 -$49,650 -$238,650 -$453,953 -$88,800 $0 -$877,345 Contribution $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 Interest Earned $1,937 $1,382 $1,600 $1,843 $2,060 $1,900 $1,309 $1,447 $1,763 $325 Ending Balance $970,417 $692,294 $801,496 $923,339 $1,032,249 $952,000 $655,856 $725,003 $883,266 $162, Starting Balance $162,746 $268,004 $400,102 $471,894 $368,329 $450,466 $379,223 $381,484 $143,105 $290,708 Expenses -$51,778 -$25,200 -$85,650 -$260,800 -$75,263 -$228,500 -$155,000 -$395,165 -$9,478 -$97,100 Contribution $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 Interest Earned $535 $799 $942 $735 $899 $757 $761 $286 $580 $700 Ending Balance $268,004 $400,102 $471,894 $368,329 $450,466 $379,223 $381,484 $143,105 $290,708 $350, Starting Balance $350,808 $422,752 $580,410 $514,961 $539,538 $661,358 $291,449 $389,048 $503,333 $611,403 Expenses -$85,400 $0 -$222,978 -$133,000 -$36,000 -$526,990 -$59,678 -$43,220 -$49,650 -$8,250 Contribution $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 $156,500 Interest Earned $844 $1,159 $1,028 $1,077 $1,320 $582 $777 $1,005 $1,220 $1,519 Ending Balance $422,752 $580,410 $514,961 $539,538 $661,358 $291,449 $389,048 $503,333 $611,403 $761,173