NatureWalk
Community Development District

Board of Supervisors’ Meeting June 4, 2026

District Office:
120 Richard Jackson Blvd, Suite 220 Panama City Beach, Florida 32407 (850) 334-9055

www.naturewalkcdd.org

NATUREWALK
COMMUNITY DEVELOPMENT DISTRICT AGENDA
Walton Area Chamber of Commerce, 63 South Centre Trail, Santa Rosa Beach, FL 32459

District Board of Supervisors

Jonette Coram Mike Grubbs Skylar Lee Danell Head Mike Duffey

Chairman
Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary

District Manager

Stephanie DeLuna

Rizzetta & Company, Inc.

District Counsel

Joseph Brown

Kutak Rock LLP

District Engineer

Jim Martelli, P.E.

Innerlight Engineering Corporation

Bond Counsel

Cynthia E. Wilhelm

Nabors, Giblin & Nickerson, P.A.

All cellular phones must be placed on mute while in the meeting room.

The Public Comment portion of the agenda is where individuals may make comments on any matters that concern the District. Individuals are limited to a total of three (3) minutes to make comments during this time.

Pursuant to provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting/hearing/workshop is asked to advise the District Office at least forty-eight (48) hours before the meeting/hearing/workshop by contacting the District Manager at (239) 936-0913. 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), who can aid you in contacting the District Office.

A person who decides to appeal any decision made at the meeting/hearing/workshop with respect to any matter considered at the meeting/hearing/workshop is advised that person will need a record of the proceedings and that accordingly, the person may need to ensure that a verbatim record of the proceedings is made including the testimony and evidence upon which the appeal is to be based.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
District Office · Panama City Beach, Florida · (850) 334-9055 Mailing Address · 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614
www.naturewalkcdd.org

Board of Supervisors NatureWalk Community Development District

June 3, 2026

REVISED AGENDA

Dear Board Members:

The meeting of the Board of Supervisors of the NatureWalk Community Development District will be held on Thursday, June 4, 2026, at 12:00 p.m. (CT) at the Walton Chamber of Commerce located at 63 South Centre Trail, Santa Rosa Beach, FL 32459. The following is the final agenda for the meeting:

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2.
3.

CALL TO ORDER/ROLL CALL
AUDIENCE COMMENTS IN AGENDA ITEMS BUSINESS ADMINSTRATION

A.

Consideration of the Minutes of the Board of Supervisors’ Meeting
held on Thursday, May 21, 2026	Tab 1

4.

STAFF REPORTS

A.	District Engineer 	Tab 2

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2.
3.
4.

Lift Station #3 Control Panel Installation Pond # 28 DEP Update
Phase 3 Outflow Ground Radar Update
Presentation of the Stormwater System Scopes of Work For Ponds 19,20,23,24,26,27
Tightline Bridge 1 Asphalt Repair

5.

B.	District Landscape Provider	Tab 3

1.

Presentation of Completed Monthly Service Reports for April & May 2026
Presentation of Anticipated Monthly Service Report for June 2026
Presentation of Enhancement Proposals
Discussion of Green Earth – Rizzetta Landscape Contract Development
Discussion of Irrigation - Green Earth

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3.
4.

5.

District Counsel 	Tab 4
District Manager 	Tab 5
Presentation of the PBA Monthly Towing Report
District Encroachment Notice Updates

E.

District Chair

5.

BUSINESS ITEMS

Ratification of District Items 	Tab 6
Tract L Debt Settlement Agreement
Discussion & Consideration of Improvement Encroachment Requests  Tab 7

C. Discussion & Consideration of the Green Earth Contract
D. Discussion & Consideration of Green Earth Enhancement Proposals	Tab 8
Prairie Pass Zoysia
Pond #13
Pond #15
Cinnamon Fern

Curb Strip Rock
Prairie Pass Cul-de-Sac
E. Discussion & Consideration of Green Earth Irrigation Reports &
Repair Proposals 	Tab 9
F. Discussion & Consideration of the Rizzetta DM Contract
SUPERVISOR REQUESTS AND COMMENTS
ADJOURNMENT
We look forward to seeing you at the meeting. In the meantime, if you have any questions, please do not hesitate to call us at (407) 472-2471.

Very truly yours,
Stephanie DeLuna
Stephanie DeLuna District Manager

Tab 1

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

MINUTES OF MEETING

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Each person who decides to appeal any decision made by the Board with respect to any matter considered at the meeting is advised that the person may need to ensure that a verbatim record of the proceedings is made, including the testimony and evidence upon which such appeal is to be based.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

The meeting of the Board of Supervisors (BOS) of NatureWalk Community Development District was held on Thursday, May 21, 2026, at 12:00 p.m. at the Walton Area Chamber of Commerce, located at 63 South Centre Trail, Santa Rosa Beach, FL 32459.

Present and constituting a quorum:

Jonette Coram Mike Grubbs Danell Head Mike Duffey

Board Supervisor, Chairman Board Supervisor, Vice-Chairman
Board Supervisor, Assistant Secretary Board Supervisor, Assistant Secretary

Also, present were:
Stephanie DeLuna Jim Martelli Joseph Brown Spencer Gonzales Bert Tony Smith Matt Weinrich Chris Cope
Justin Powell

District Manager, Rizzetta & Company, Inc.
District Engineer, Innerlight Engineering (via phone) District Counsel, Kutak Rock (via phone)
LIS, Rizzetta & Company, Inc. (via phone) Sitex Earth Works (via phone)
Landscape Provider, GreenEarth PBA Towing
PBA Towing

Audience

No audience was present.

FIRST ORDER OF BUSINESS

CALL TO ORDER

Ms. DeLuna confirmed quorum and called the meeting to order at 12:00 PM.

SECOND ORDER OF BUSINESS

AUDIENCE COMMENTS

There were no audience comments on agenda items.

THIRD ORDER OF BUSINESS

BUSINESS ADMINISTRATION

1. Consideration of the Minutes of the BOS Meeting held on April 2, 2026
Ms. DeLuna requested feedback on the minutes. There was none.

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On a motion by Mr. Grubbs, seconded by Mr. Duffey, with all in favor, the BOS approved the Minutes of the Board of Supervisors Meeting held on April 2, 2026 for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

2. Consideration of the Minutes of the Workshop held on April 23, 2026
Ms. DeLuna requested feedback on the minutes. There was none.

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3. Ratification of the Operations and Maintenance Expenditures for the Months of March and April 2026
Ms. Coram questioned the Sedgwick Valuation Services payment. Ms. DeLuna stated that this was an invoice for services performed in a previous fiscal year.

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FOURTH ORDER OF BUSINESS
A. District Engineer

STAFF REPORTS

1. Lift Station #3 Control Panel Installation Update
Mr. Martelli stated that the equipment is on order with expected delivery in the

next few weeks. Innerlight will help Pump & Process offload the control panel and coordinate installation by Gulf Coast Electric.

2. Pond # 28 DEP Update
Mr. Martelli noted that the state does allow a minimum 15-foot buffer as long as a 25-foot average width is maintained. Innerlight will prepare an exhibit for submission to the DEP, who will then detail the required process to proceed with maintenance efforts.

3. Phase 3 Outflow Ground Radar Update
A ground penetrating radar study located the position of the Phase 3 outflow; however, it is buried beneath approximately 6 feet of soil and water. Raw data was provided, with a report to follow. Heavy equipment is required to expose the outflow piping near Pond #22, the end of which may be crushed.

Ms. Coram inquired if Sitex could perform this effort. It’s possible that heavier equipment is necessary than what Sitex typically uses. Innerlight will prepare a set of retrofit construction drawings to identify the exact location of the outflow and then define the scope of work required to excavate the piping. Mr. Martelli noted that concrete work to reconstruct the head wall is also necessary. Innerlight will provide the drawings and scope to several trusted contractors, along with Sitex and Tightline, who may be able to perform the necessary concrete work if other vendors cannot. Bids are due to the District before July 9, 2026.

4. Presentation of Remaining Stormwater System Scopes of Work
Innerlight Scopes of Work for Ponds # 19, 20, 23, 24, 26, 27 are complete and will be provided to Sitex after today’s meeting so that a proposal can be developed and

On a motion by Ms. Head, seconded by Mr. Grubbs, with all in favor, the BOS ratified Operations and Maintenance Expenditures for the Month of March 2026, in the amount of $85,940.30 and the Month of April 2026, in the amount of $88,525.63, for NatureWalk Community Development District.

On a motion by Ms. Head, seconded by Mr. Duffey, with all in favor, the BOS approved the Minutes of the Workshop held on April 23, 2026, for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

presented for Board consideration on June 4, 2026. Scopes of Work for Ponds #28, 29 cannot be developed until after the pond outflow project is complete.

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5. Presentation of the Stormwater Post-Construction Rehabilitation Report
Mr. Martelli confirmed that the Report will be presented upon completion of the Stormwater Management Pond Vegetation clearing.

Ms. Coram asked if Innerlight could provide guidance for Sitex to resolve the landscape debris still in place at Ponds # 12 and 15 prior to their next visit to clear Ponds # 19, 20, 23, 24, 26, 27. Mr. Martelli will do so. Mr. Smith stated this will be included on their next visit.

6. Sitex Earth Works Stormwater Updates
Sitex will deploy twice more to complete vegetation clearing. Scheduling is subject to receipt of the Innerlight Scopes of Work. Pond #28 dam removal is also dependent upon DEP input based on exhibits provided by Innerlight.

Ms. Coram asked the Board if they had any questions for Mr. Martelli regarding the Improvement Encroachment Request at 521 Flatwoods Forest Loop. Mr. Martelli stated that Innerlight could stake his recommended fence placement for the homeowner. The homeowner has not yet paid the $600 fee required by the Improvement Encroachment Request.

B. District Landscape Provider
1. Discussion of Green Earth - Rizzetta Landscape Contract Development
Mr. Gonzales presented the Scope of Work, which is outcome-based, rather than means-based.

Ms. Coram asked that the Work Authorization process for out-of-contract services, property inspections with a District representative, seasonal leaf removal, drain cleaning and the cutback of plants and shrubs around stormwater management ponds be detailed in the scope of work.

Mr. Grubbs asked for justification of the price increase. Mr. Gonzales explained that this scope of work includes some services not included in previous contracts such as Stormwater system pond bank and control structure maintenance, year-round palm trim, dead plant removal, verifiable fertilizer applications, etc. plus their associated labor costs. He provided calculations used to determine Green Earth’s approximate cost and markup, noting that the vendor is providing a very competitive bid to the District.

The Board discussed Green Earth’s upgrade of the existing irrigation system to Weathermatic smart controllers. The upgrade is at no cost to the District and will take place after the contract is executed.

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On a motion by Ms. Coram, seconded by Ms. Head, with all in favor, the BOS approved adjustments to the RFP as detailed, for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

2. Discussion of Proposals
Ms. Head asked Green Earth for a list of available river rock for June 4, 2026.
Mr. Weinrich confirmed that the rock will be secured with glue upon installation.

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C. District Counsel
Mr. Brown discussed the preliminary site plan for Tract H and asked for input on what property or improvements the CDD may be willing to accept for long-term ownership and maintenance so that the owner can include the information on the final plat, along with the emergency ingress/egress. Areas principally include the portion of the stormwater pond located within Tract H (which the CDD has already agree to maintain as part of overall stormwater system and extension of the existing pond owned by the CDD) and the road extension into Tract H. It is possible there could also be green space/common areas. If there are common improvements like the road or landscaping that the CDD does not accept for ownership and maintenance, they would need to be dedicated to a property or homeowners association, either the existing HOA or a new sub-HOA just for this area. The owner has indicated that the Forest Roads will be used to access the property from the rear to minimize construction traffic through NatureWalk.

The Board will accept control of the road to maintain access to the emergency exit and so that its Rules Related to Parking Enforcement may be applied consistently throughout the District. However, the road, including curbing, must be complete and in pristine condition prior to turnover. Streetlight specifications will be provided to the builder.

Mr. Brown noted that cities or counties typically require a bond which would allow them to complete roads in the event that a developer becomes insolvent. He will ask that the District be named as additionally insured for Tract H.

Mr. Brown confirmed that correspondence regarding encroachments was sent to the HOA attorney; a follow up call has not yet been scheduled.

Tract 292 has reached a debt settlement agreement with the trustees’ representatives.

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D. District Manager
1. Presentation of the PBA Towing Report
A report was not provided, but will be available for the June 4, 2026 meeting. However, PBA Towing indicated to Ms. DeLuna that fewer parking violations occurred during May.

2. District Encroachment Notice Update

Several

owners	have

contacted

the

District;

only

one

Improvement

Encroachment Request has been received to date.

On a motion by Mr. Grubbs, seconded by Mr. Duffey, with all in favor, the BOS authorized Staff to finalize a settlement agreement with the owner of Tract 292 subject to final review by Counsel and approval and execution by the Chair, for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

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3. Rizzetta Management Contract Update
Ms. DeLuna advised that Rizzetta has approved the District’s revision to the proposed contract, which will be considered on June 4, 2026.

4. Presentation of Registered Voter Count
The Walton County Supervisor of Elections certified the number of qualified registered voters in NatureWalk at 215. This does not meet the required threshold for a General Election; therefore, a Landowners Election will be held in November 2026.

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E. District Chair
Ms. Coram noted that Tightline Construction will repair a parking pad curb at no cost to the District.
The Board discussed the permitting process and funding of Conservation Area Amendment.

FIFTH ORDER OF BUSINESS
A. Ratification of District Expenses

BUSINESS ITEMS

Ms. DeLuna presented District expenses for Virgin Brothers trail boardwalk repair,

SouthEast Straw pine straw installation, Green Earth spring annuals and irrigation repair.

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B. Discussion and Consideration of Improvement Encroachment Requests
The Board discussed the Improvement Encroachment Request from the owners of 521 Flatwoods Forest Loop, along with the new, revised input from the District Engineer. Ms. DeLuna will contact the homeowner to request the required $600 fee for District Engineering and county recording costs prior to providing the District Engineer’s plan of
action.

C. Discussion & Consideration of the Green Earth Contract
A contract will be prepared for Board consideration on June 4. Rizzetta LIS will revise the RFP per Board direction, which will serve as an exhibit.

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D. Discussion & Consideration of Green Earth Proposals for Plant, Material, and Sod Enhancement
The Board requested revisions to the Cinnamon Fern, Prairie Pass Cul-de-sac, Curb Strip Rock, Pond #13 and Pond #15 proposals. Prairie Pass Zoysia is tabled for consideration until June 4, 2026.

On a motion by Mr. Grubbs, seconded by Ms. Head, with all in favor, the BOS approved District Management and Counsel to draft a landscape contract for Green Earth, in the amount of
$192,250.00, for NatureWalk Community Development District.

On a motion by Ms. Head, seconded by Mr. Duffey, with all in favor, the BOS ratified District Expenses in the amount of $33,437.38, for NatureWalk Community Development District.

On a motion by Ms. Coram, seconded by Ms. Head, with all in favor, the BOS accepted the Registered Voter Count of 215, for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

E. Discussion & Consideration of Virgin Brothers Project Proposals
1. Preserve Trail Boardwalk Board Replacement
This project will replace the remainder of deteriorated boards on the Preserve Trail, as was done on the State Forest and Gathering Place Trails.

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2. Preserve Trail Guardrail Replacement
Atlas Engineering previously advised timber guardrail replacement.

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3. Bulkhead Platform Board Replacement
An audit of boards will be conducted prior to creating a work authorization.

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F. Presentation of FY 2026/2027 Proposed Budget
1. Discussion of FY 2026/2027 Proposed Budget
The Board reviewed the proposed budget line-by-line.

2. Consideration of Resolution 2026-04, Approving the Proposed Budget for FY 2026/2027 & Setting a Public Hearing

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3. Discussion & Consideration of the FY 2026/2027 Budget Cover Letter
Mr. Duffey requested a change of wording from cost-of-living to cost-of-labor.

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G. Consideration of Resolution 2026-05, Adopting Meeting Schedule for FY 2026-2027
The Board requested that the July meeting be rescheduled to July 8, 2026.

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H. Discussion & Consideration of Tightline Bridge 1 Asphalt Repair
Innerlight will review the Tightline proposal and conduct a site visit to inspect the Bridge approach. If the scope of work is sufficient, the Board will move forward with this repair.

On a motion by Ms. Coram, seconded by Mr. Grubbs, with all in favor, the BOS approved Resolution 2026-05 Adopting a Meeting Schedule for FY 2026-2027 with the requested change, for NatureWalk Community Development District.

On a motion by Mr. Grubbs, seconded by Ms. Head with all in favor, the BOS approved the Budget Cover Letter with the change noted above, for NatureWalk Community Development District.

On a motion by Ms. Head, seconded by Mr. Grubbs, with Mr. Duffey opposed, the BOS approved Resolution 2026-04 Approving the Proposed Budget for FY 2026-2027 and Setting a Public Hearing on August 6, 2026, for NatureWalk Community Development District.

On a motion by Ms. Head, seconded by Mr. Grubbs, with all in favor, the BOS approved selected bulkhead platform board replacement, in an amount Not-to-Exceed $11,000.00, for NatureWalk Community Development District.

On a motion by Ms. Coram, seconded by Ms. Head with all in favor, the BOS approved Preserve Trail Board Replacement in the amount of $32,155.20 and Guardrail Replacement, in the amount of $10,120.40, for NatureWalk Community Development District.

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT
May 21, 2026 - Minutes of Meeting

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SIXTH ORDER OF BUSINESS

SUPERVISOR REQUESTS

Ms. Head requested that the District ask the HOA to either clean or dispose of the

directional sign located at the intersection of Prairie Pass and Sandgrass Blvd as it is weathered. Ms. DeLuna will contact HOAMCO to ask what their plans are for the sign.

SEVENTH ORDER OF BUSINESS

ADJOURNMENT

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Secretary/Assistant Secretary

 	
Chairman/Vice Chairman

On a motion by Ms. Head, seconded by Ms. Coram, with all in favor, the Board adjourned the meeting at 3:44p.m., for NatureWalk Community Development District.

On a motion by Ms. Coram, seconded by Ms. Head, with all in favor, the BOS approved the Chair to move forward with repair of the Bridge 1 east approach in an amount Not-To-Exceed
$10,000.00, for NatureWalk Community Development District.

Tab 2

Naturewalk Community Development District
INNERLIGHT

 	

ENGINEERING CORP

PROPOSAL

IN PURSUIT OF  1OO %

SUBSUR FACE DAMAGE 

PREVENTION 

UTILITY LOCATING

CONCRETE IMAGING

3D LASER SCANNING

MAPPING

MODELING

LEAK DETECTION

VIDEO PIPE INSPECTION

GPRS Intelligently Visualizes The Built World® above and below ground for customers who need accurate, efficient damage prevention, existing condition
as-built documentation, or project & facility management tools. Our elite nationwide team of Project Managers are experts in locating buried infrastructure, reality capture, and mapping – delivered via SiteMap®, our digital visualization software platform, with a 99.8% accuracy rate in utility locating and concrete imaging – thanks to our industry-leading Subsurface Investigation Methodology (SIM).

GPRSINC.COM

March 16, 2026
Client: INNERLIGHT ENGINEERING CORP

Submitted By:
Dakota Hensel To schedule, please email: floridainfo@gprsinc.com

Naturewalk Community Development District

Project Address: 25 Sage Circle Santa Rosa Beach, FL 32459
Quote Number: GPRSQUOTE-264995
GPRS Opportunity Name/Number: 25 Sage Circle, Santa Rosa Beach, FL - 3,450SF Pipe Locate

GPRS appreciates the opportunity to provide this proposal. We encourage you to visit our website (www.gprsinc.com) and contact any of
the numerous references listed. Our insurance certificate and W-9 can also be downloaded here. Please feel free to contact us if you have any questions or need additional information. Visit for an overview of our industry-leading best practices.
SCOPE OF WORK
Underground Utility: We understand the scope of work on this project is to search for underground utilities in the areas defined by the client which total up to 3,450SF. We will attempt to trace any utilities for which structures are visible from the work area. Utilities will be marked on the surface using paint, pin flags, or other appropriate means. The client will be responsible for providing drawings or notifying GPRS of any utilities entering the work area for which there are no apparent surface features or structures visible from the work area. To avoid additional charges, the areas should be laid out, marked, and cleared of obstructions before our arrival. Please visit www.simspec.org for an overview of our industry-leading best practices that will be applied to this project.



GPRS is not responsible for housekeeping. Any debris, equipment, or other obstructions in the area at the time of scanning could potentially block out needed data.

A thorough utility search can only be completed if GPRS is given access to all utility structures, interior and exterior. This service is never a replacement for the use of the state One Call system (811).
All of our technicians have OSHA-10 safety training or greater. Site-specific safety training is not included in this quote. Please notify us if this project requires
additional safety training.

EQUIPMENT



Underground Scanning GPR Antenna. This GPR Antenna uses frequencies ranging from 250 MHz to 450 MHz and is mounted in a stroller
frame that rolls over the surface. Data is displayed on a screen and marked in the field in real-time. The surface needs to be reasonably smooth and unobstructed to obtain readable scans. Obstructions such as curbs, landscaping, and vegetation will limit the e cacy of GPR. The total e ective scan depth can be as much as 8’ or more with this antenna but can vary widely depending on the soil conditions and composition. Some soil types, such as clay, may limit maximum depths to 3’ or less. As depth increases, targets must be larger to be detected, and non-metallic targets can be challenging to locate. The depths provided should always be treated as estimates as their accuracy can be a ected by multiple factors. For more information, please visit: Link
Electromagnetic Pipe Locator. This receiver can passively detect the signals from live AC power or radio signals traveling along some conductive utilities. Operators can connect a transmitter directly to accessible metallic pipes, risers, or tracer wires to generate a current at a specific frequency. The receiver can then detect the resulting signal along the pipe or tracer wire. Various factors may impact this device's e ectiveness, including (but not limited to) access to the utility, conductivity, grounding, and interference from other utilities. The depths provided should always be treated as estimates as their accuracy can be a ected by multiple factors. For more information, please visit: Link
Traceable Rodder. The rodder consists of a copper wire encased in fiberglass. This device is pushed through a pipe with direct access, such as a sewer line at a cleanout or a storm drain catch basin. Operators then induce a current on the wire and trace the signal from the surface. The maximum traceable depth is 10’ depending on the soil conditions, and the maximum distance is 200’. Inserting the rodder into deeper pipes within manholes may not be feasible depending on site conditions. GPRS will not access electrical conduits. The signal is not detectable through metallic pipes. For more information, please visit: Link
GPS. This handheld unit o ers accuracy down to 4 inches; however, the accuracy achieved will depend on the satellite environment at the time of collection and is not considered survey-grade. Features can be collected as points, lines, or areas and then exported as a KML/ KMZ or overlaid on a CAD drawing. For more information, please visit: Link







GPRSQUOTE-264995 v.1

Page 2 of 3

PROJECT COSTS

GENERAL TERMS & CONDITIONS
This proposal is subject to the General Terms and Conditions for Services of Ground Penetrating Radar Systems, LLC posted at Link (the “Terms and Conditions”) and the Authorized User License Agreement for SiteMap® Accounts at Link and is hereby incorporated by reference into and made a part of this proposal. Customer acknowledges it has read and agrees to be bound by such Terms and Conditions. In the event of any conflict between the terms of this proposal and the Terms and Conditions, the Terms and Conditions will prevail.

1.
2.

Customer agrees to meet and perform all requirements described in this document and has fully read and understands all items listed within this document.
It is the customer’s responsibility to prepare the site for scanning, including clearly identifying areas to be scanned, securing access to all areas required for scanning, removing and keeping these areas clear and free of obstructions. Delays caused by customer’s failure to do so may result in an increased price.
GPRS does not conduct an investigation, analysis, or interpretation of soil composition, soil/concrete conditions, or geophysical, geological, engineering, or land surveying information. The customer acknowledges understanding that we are merely reporting retrieved data and that we do NOT provide geophysical, geological, engineering, or land surveying services. Customer should contact a professional in those fields if such services are needed. Data collected during may only be suitable for use within the scope of this proposal.
If any work to be performed is within a road or street, unless specifically included by GPRS within this proposal, it is the customer’s responsibility to provide adequate tra c control to allow GPRS’ personnel to safely and e ciently work in the road/street.
Time-on-site in excess of 8-hours will be billed at overtime rates.
This price assumes that we will be given access to perform the work during normal, weekday business hours. Work performed outside of 6am-5pm Monday-Friday will be billed at overtime rates.
These rates assume that there are no certified payroll or prevailing wage requirements for this work. If GPRS receives notice that any of these conditions exist, there will be additional costs.
If this proposal is not accepted within 90 days of March 16, 2026, then the pricing may be subject to review.
If for some reason the technician arrives on site and the work is cancelled there will be a charge of $500 per requested technician.
If your project is in WV, SD, NM, or HI: State sales tax is not included in the total on this proposal, but will be included on the invoice.
Payment Terms are Net 30; or as specified if a current Master Service Agreement is in place. GPRS facilitates the use of ACH or bank-to-bank payment remittance at no cost. A convenience fee will be applied to payments made by credit card.

3.

4.

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6.

7.

8.
9.
10.
11.

ACCEPTED AND AGREED
Print Name: James Martelli, P.E.   Signature:	Date: 05.05.2026
District Engineer

Naturewalk Community Development District

Company Phone/Email:	PO #:	Job #:	

GPRSQUOTE-264995 v.1

Page 3 of 3

SERVICE

DESCRIPTION

FIELD SERVICES

Described on Page 2

JOB SUMMARY REPORT

PDF including a brief description of equipment used, findings, limitations, and site photos sent at the conclusion of every job.

SITEMAP® PERSONAL LICENSE

Findings will be collected with GPS and made available on SiteMap to access the automated deliverable PDF Map, KMZ, SHP files and map viewer access on SiteMap. Results are not survey-grade accuracy. For more information, please visit: Link

TOTAL

$700.00

INVOICE: 1001655

Ground Penetrating Radar Systems, LLC 1901 Indian Wood Cir.
Maumee, OH 43537
(419) 843-9804
http://www.gprsinc.com

INVOICE DATE: DUE DATE:
ACH Bank Information

5/15/2026
6/14/2026

Naturewalk Community Development District, Care of:
Bill To
INNERLIGHT ENGINEERING CORP 11490 EMERALD COAST PKWY STE 2E
MIRAMAR BEACH FL 32550

Job Location
25 Sage Circle
Santa Rosa Beach FL 32459

913378

Net 30

Alex Parker

2026-05-14

$700.00

Utility Locating

Invoice Amount
Tax Total Invoice Payments/Credits

$700.00
$0.00
$700.00 ($0.00)

We are going green! Please send your accounts payable contact name and email address to billing@gprsinc.com
Click HERE or scan the QR Code below to pay this invoice online.

TERMS AND CONDITIONS - Full terms and conditions at : http://www.gprsinc.com/termsandconditions.html

Remit Check To:

Ground Penetrating Radar Systems, LLC PO Box 932
Toledo, OH 43697-0932
Please include Invoice# with Remittance

Requested By: Callahan Phillips

Phone: 850-842-3148

Email: callahan@ieceng.com

Amount Due	$700.00

Services	Amount

Work Order #	PO Number	Job Number	Terms	GPRS Technician(s)	Service Date

Signature Bank, N.A.
Bank Routing/ABA Number: 041215621 Account Number: 2009900
Payment Reference:1001655
Email remittance to ar@gprsinc.com

3601 East 11th Street Panama City, Florida 32401 (850) 624-9217 Phone

May 18, 2026
Innerlight Engineering Corporation NatureWalk CDD
11490 Emerald Coast Parkway
Suite 2W Miramar Beach, Florida 32550

Attention: Jonette

Re: Asphalt Repair

We propose to furnish all labor, equipment, and materials necessary to remove and replace the existing damaged asphalt
area referenced in the previous email. The damaged asphalt will be saw-cut as needed, removed, and properly hauled off-site. New base material will then be installed and compacted, followed by the placement of approximately a 2-inch lift of new asphalt.

Traffic control will be limited to one lane during the scheduled repair operations.

All permits, testing, and site access shall be provided by others.

Thank you for the opportunity to provide a quote for this work. Please review the details, and if you have any questions or
need further clarification, feel free to call or text me on (850) 625-9247.

Sincerely,
Josey Nixon
Tightline Construction, Inc.

Item No.

Item Description

~Qty

Unit

Unit Cost

Total Cost

1

Asphalt (Demo and Replace)

13.1

SY

$630.00

$8,253.00

This proposal is a unit price quote, Meaning the pricing is based on the cost per unit of each item provided. All quantities are approximate and may vary due to several factors.

$8,253.00

Tab 3

PROJECT MANUAL

FOR

LANDSCAPE & IRRIGATION MAINTENANCE SERVICES

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

RIZZETTA & COMPANY

April 2026

1

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT PROPOSER QUALIFICATION STATEMENT

1.

Proposer: 	 /_/ A Partnership

[Company Name]

/_/ A Corporation
/_/ A Subsidiary Corporation

2.

Parent Company Name:

3.

Parent Company Address:

Street Address 	

P.O. Box (if any)

 	

City 	State 	Zip Code 	

Telephone

	Fax no. 	

1st Contact Name

	Title 	

2nd Contact Name

	Title 	

4.

Proposer Company Address (if different):

Street Address 	

P. O. Box (if any)

 	

City 	State 	Zip Code 	

Telephone

	Fax no. 	

1st Contact Name

	Title 	

2nd Contact Name

	Title 	

5.

List the location of the office from which the proposer would provide services to NatureWalk CDD.

Street Address	

City	State	Zip Code	

Telephone	Fax No.	

1st Contract Name	Title	

2

6.

Is the Proposer incorporated in the State of Florida? Yes ( ) No ( )

6.1

If yes, provide the following:

Is the Company in good standing with the Florida Department of State, Division of Corporations? Yes ( ) No ( )

If no, please explain

 	

Date incorporated 	Charter No. 	

6.2

If no, provide the following:

The State with whom the Proposer’s company is incorporated? 	

Is the company in good standing with the State? Yes ( ) No ( )

If no, please explain 	

Date incorporated 	Charter No. 	

Is the Proposer’s company authorized to do business in the State of Florida? Yes ( ) No ( )

6.3

If Proposer is not incorporated, please identify the type of business entity (i.e.: Limited Liability Company, Partnership, etc.) and the number of years Proposer has been in the business of providing landscape services.

7.

Has the Proposer’s company provided services for a community development district or similar community previously? Yes ( ) No ( )

7.1

If yes, provide the following:
Number of contracts Proposer has executed with community development districts and/or similar communities during the past five (5) years and the names of the entities as well as the length of the contract and whether each such community is still a current client.

8.

List the Proposer's total annual dollar value of comparable contracts for each of the last three (3) years starting with the latest year and ending with the most current year

(23)	, (24) 	, (25) 	.

3

9.

What are the Proposer's current insurance limits?

General Liability Automobile Liability Umbrella Coverage Workers Compensation Expiration Date

$
$

$	
$	

 	

10.

Please state whether or not the Proposer or any of its affiliates are presently barred or suspended from bidding or contracting on any state, local, or federal contracts in any

state(s)?  Yes (  ) No (  )

If so, state the name(s) of the company (ies)	

The state(s) where barred or suspended 	
State the period(s) of debarment or suspension 	

11.

Has the Proposer ever failed to fulfill its obligations under any contract awarded to it?
Yes (  ) No (  )  If so, where and why? 	

12.

Has any officer or partner of the Proposer ever been an officer, partner, or owner of some other organization that has failed to fulfill job duties or otherwise complete a contract?
Yes (  ) No (  ) If so, state name of individual, other organization and reason therefore.

13.

List any and all litigation to which the Proposer, any personnel to work at NatureWalk, any officer and/or employee of the Proposer has been a party in the last five (5) years. 	

14.

Has the Proposer or any of its affiliates ever been either disqualified or denied

prequalification status by a governmental entity? Yes (  ) No (  )

If so, discuss the

circumstances surrounding such denial or disqualification as well as the date thereof.	

4

15.

List five (5) current clients including contact persons and telephone numbers as well as their contract value and length of service: 	

16.

List three (3) jobs (including company, contact person, and telephone number) lost in the previous twelve (12) months and the reason(s) why:

17.

Attach current financial statements, prepared within the last one hundred eighty (180) days, showing current financial resources, liabilities, capital equipment and historical financial performance for the past one year.

18.

Attach any certifications or documentation regarding educational experience of key personnel that would assist the District(s) in evaluating the quality and experience of such personnel.

19.

Key Personnel: Describe any experience of the principal individuals (Foremen, Superintendents, etc.) who are responsible for the actual landscape & irrigation maintenance work of your organization and who will be assigned to this contract if awarded to contractor.

Name

Position

Type of Work

Yrs. Exp.

Yrs. With Firm

Name

Position

Type of Work

Yrs. Exp.

Yrs. With Firm

Name

Position

Type of Work

Yrs. Exp.

Yrs. With Firm

5

Name

Position

Type of Work

Yrs. Exp.

Yrs. With Firm

Name

Position

Type of Work

Yrs. Exp.

Yrs. With Firm

The undersigned hereby authorize(s) and request(s) any person, firm or corporation to furnish any pertinent information requested by the NatureWalk CDD or their authorized agents, deemed necessary to verify the statements made in this document or documents attached hereto, or necessary to determine whether the NatureWalk CDD should consider the Proposer for proposing on the landscape services request for proposals, including such matters as the Proposer’s ability, standing, integrity, quality of performance, efficiency and general reputation.

By: 	

Name of Proposer

[Type Name and Title of Person Signing]

This 	day of 	, 20  .

(Corporate Seal)

Sworn to before me this 	day of 	, 20  .

(Seal)

Notary Public/Expiration Date

6

PROPOSAL FORM PART IV PRICING

NOTE: This pricing form is intended to cover pricing for the initial one-year term of the contract. It is assumed that prices will remain the same through each of the three potential annual renewal terms. If the Proposer intends to change pricing for any renewal term, then the Proposer should submit multiple pricing forms, one for each renewal term. Otherwise, the prices stated below will be binding for the initial one-year term, and any annual renewal terms.

Having carefully examined the specifications and having thoroughly inspected said property, the undersigned proposes to furnish all labor, materials, and proper equipment for the entire scope of work, in accordance with said specifications, for the sum of:
PART 1

General Landscape Maintenance

$

/Year

PART 2

Fertilization (All labor and materials)

$

/Year

(Include any and all turf pesticide/herbicide/fungicide mixtures you intend to use throughout the year)

7

CENTIPEDE (per specifications in Part 2) (if present)

MONTH

FORMULA

APPLICATION RATE (LBS. N/1000 SF)

TOTAL POUNDS PRODUCT TO BE APPLIED

COST PER APPLICATION

Storm Cleanup $	/hr.
Freeze Protection (description of ability) 	

$	/application (Contractor to identify those plants susceptible to freeze and estimate cost to cover per application)
Hand Watering
$	/hr. for employee with hand-held hose
$	/hr. for water truck/tanker

These prices are informational only and NOT to be included in General Landscape Maintenance Cost

Please list any additional fertilization for those plant materials requiring specialized applications.

8

SPECIALTY PLANT MATERIALS

MONTH

FORMULA

PLANTS TO BE FERTILIZED
(i.e., Crapes, Loropetalum, Knockout Roses, etc.)

TOTAL POUNDS PRODUCT TO BE APPLIED

COST PER APPLICATION

PALMS (per specifications in Part 2)

MONTH

FORMULA

APPLICATION RATE (1.5 LBS. /100 SF PALM CANOPY)

TOTAL POUNDS PRODUCT TO BE APPLIED

COST PER APPLICATION

ORNAMENTALS (per specifications in Part 2)

MONTH

FORMULA

APPLICATION RATE (LBS. N/1000 SF)

TOTAL POUNDS PRODUCT TO BE APPLIED

COST PER APPLICATION

ZOYSIA (per specifications in Part 2) (if present)

MONTH

FORMULA

APPLICATION RATE (LBS. N/1000 SF)

TOTAL POUNDS PRODUCT TO BE APPLIED

COST PER APPLICATION

CENTIPEDE cont. (per specifications in Part 2) cont.

The totals in the “Cost per application” column should equal your Total Fertilization Cost for the year.

PART 3

Pest Control (All labor and materials)

$

/Year

(If entire pesticide allowance is required) *

* This is an allowance for treatments of trees, ornamentals, groundcovers, etc. and should include only those pesticides/herbicides not already included in the turf fertilizer section. This dollar amount will not be equally divided amongst the monthly invoices. The portion of the allowance used on any particular event shall be billed the month after services are rendered. Contractor shall continue to be responsible for the eradication/control of all weeds, pests and diseases after the allowance listed above has been exhausted.

OTC Injections will be performed at the discretion of the District’s BOS (This shall not be included in either the Pest Control cost listed above nor shall it be included in the Grand Total or Contract Amount.)

OTC Injections (All labor and materials) (based on your recorded quantities below)

$

/Year

(OTC injections per specs - do not include in Grand Total)

The District reserves the right to subcontract out any and all OTC Injection events.

9

Application of Top Choice for annual treatment of Fire Ants

For informational purposes only, please provide a cost to apply Top Choice for the annual control of fire ants in all Finished Landscaped Areas as described in Scope of Services.
$ 	/ Year
Top Choice application will be performed at the sole discretion of the District’s BOS (This shall not be included in either the Pest Control cost listed above nor shall it be included in the Grand Total or Contract Amount.)

Palm Type

Palm Qty

# of Inoculations per quarter per palm
(based on size) (i.e. (2) inoculations per large Canary Palm per 1/4, etc.)

Cost per Individual Inoculation (One Cartridge)

Total Cost per Year
(4x per year)

PART 4

Irrigation (All labor and materials)

$

/Year

PART 5

Annual Installation (All labor and materials) Please provide price per plant.

Contractor shall install (75) - 4” annuals three (3) times per year per specs at the direction of the District at $ 	/annual.

$ 	/rotation

$

/Yr. (based on three (3) rotations) (Do not include in Grand Total)

The District reserves the right to subcontract any annual installation to an outside vendor

GRAND TOTAL (PARTS 1, 2, 3 & 4 - This is what contract will be written for)

$ 	/Initial Term.

FIRST ANNUAL RENEWAL SECOND ANNUAL RENEWAL THIRD ANNUAL RENEWAL

$ 	/*
$ 	/*

$

/*

*Unless prices are to remain the same throughout the initial contract term and each of the three possible annual renewal periods, the Proposer must supply a complete pricing form for each of the three possible annual renewal periods.

10

Freeze Protection (description of ability) 	

$	/application (do not include in Irrigation Total or Grand Total)
After hours emergency service hourly rate $ 	/HR. (i.e. broken mainlines, pump & wells, etc.)

Contractor shall provide a list of additional charges and pricing for such items other than routine maintenance as a separate price from this bid.

$ 	/ zone should actual field quantity differ from the quantity of zones stated in the RFP Manual.

Contractor/Firm Name	

Firm Address

City/State/Zip

Phone Number	Fax Number	

Name and Title of Representative

(Please Print)

Date	

ADDENDA	Proposer

1.

	2.

	3. 	4. 	5. 	

Dated this

day of 	, 2026

11

COST BREAKOUT FOR GENERAL LANDSCAPE MAINTENANCE

General Landscape Maintenance

Mowing, hard edging, blowing off hard surfaces:

$ 	/ event

Pond bank mowing, including line-trimming to water’s edge:

$ 	/ event

Bed detailing, including weeding, soft edging, shrub
pruning, delineation and dead-wooding, dead-heading of annuals, trash and landscape litter removal:

$ 	/ event

Tree Lifting:

$ 	/ event

Palm Pruning, including seed pods, old flower stalks, and inflorescence, vines & volunteers:

$ 	/ event

12

LANDSCAPE AND IRRIGATION MAINTENANCE RATES FOR ADDITIONAL SERVICES

Please provide rates for the following items (including overhead and profit) which will be used for any additional work and/or services:

A.

Mowers w/operator

$	Hour

B.

Bush-Hog w/operator

$

Hour

C.

Tractor w/operator

$	Hour

D.

Supervisor with Transportation

$	Hour

E.

Laborer with hand equipment

$

Hour

F.

Truck w/driver

$	Hour

G.

Irrigation Tech

$	Hour

H.

Granular Pesticide Applicator

Person with Drop Spreader

$

Hour

I.

Liquid Pesticide Applicator

Person with Spray Truck

$

Hour

J.

Granular Fertilizer Applicator

Person with Drop Applicator

$

Hour

K.

Liquid Fertilizer Applicator

Person with Spray Truck

$

Hour

L.

Granular Weed Control Applicator

Person with Drop Applicator

$

Hour

M.

Liquid Weed Control Applicator

Person with Spray Truck

$

Hour

N.

Laborer for Additional Trash Pick-Up

$

Hour

O.

Lump Sum Mowing (1), entire community

$

Per Mow

1 Mowing shall include mowing, edging, weed eating, weeding of beds, weeding of lawns and blowing and/or vacuuming.

13

EMERGENCY CLEAN-UP SERVICES

In the event of a declared emergency or disaster, the following services shall be provided on a time and materials basis, at the rates (which include all costs including but not limited to overhead and profit) set forth below:

A.

Debris removal personnel unit costs:

$

per Hour

$	per Hour
$	per Hour

B.

Debris removal equipment unit costs:

$	per Hour
$	per Hour
$	per Hour

C.

Other emergency/disaster related unit costs:
$	per Hour

$	per Hour
$	per Hour

Costs for equipment and personnel are only payable for when the equipment and personnel are operating. No stand-by time is eligible for payment. Disaster recovery assistance services shall not exceed 70 hours for each declared emergency or disaster. Contractor shall maintain and supply District all necessary and adequate documentation on all emergency/disaster-related services to support reimbursement by other local, state, or federal agencies. The District reserves the right to contract with an outside vendor for any or all emergency clean-up services.

14

Under penalties of perjury under the laws of the State of Florida, I represent that I have authority to sign this Proposal Form (including Parts I through IV) on behalf of:
		(“Proposer”) and declare that I have read the foregoing Proposal Form (including Parts I through IV) and that all of the questions are fully and completely answered, and all of the information provided is true and correct.

Dated this 	day of 	, 2026.

Proposer: 	 By: 	 Title: 	

STATE OF FLORIDA
COUNTY OF 	

The foregoing instrument was acknowledged before me by means of physical presence or online notarization, this   day of 		, 2026, by 	, as 	 of 	, on its behalf. He/She [ ] is personally known to me or [ ] produced 			as identification.

Notary Public, State of Florida

Personally Known
OR Produced Identification
Type of Identification 	

15

SCOPE OF SERVICES

PART 1

GENERAL LANDSCAPE MAINTENANCE

1) MOWING – All grass areas will be mowed on the following schedule:

MARCH 1 – NOVEMBER 1 – Once a week NOVEMBER 1 – MARCH 1 – Once every two weeks

This schedule estimates that there will be between 41 – 45 cuts annually based on standard growing periods in Florida, however, requires a minimum of 52 visits (weekly) to perform those duties, other than mowing, that cannot remain unattended for two weeks. (i.e., weed control, selective mowing, tree lifting, pruning, debris clearing, and general detailing of property, etc.) Notwithstanding the above, at no time will the turf (or weeds within turf) be allowed to grow beyond a maximum height of five (5) inches. Each mowing should leave the Centipede grass at a height of one and one and one half (1.5) to two and one half (2.5) inches and Zoysia at a height of two (2) to two and one half (2.5) inches. Do not remove more than 1/3 of the height of the leaf blade at anyone mowing. All blades shall be kept sharp at all times to provide a high-quality cut and to minimize disease. The DISTRICT requires mowers to be equipped with a mulching type deck. Clippings may be left on the lawn if no readily visible clumps remain on the grass after mowing. Otherwise, large clumps of clippings MUST either be collected and removed by the CONTRACTOR OR be left to dry out on the lawn for no more than one day and then re-distributed across the lawn. This is to re-introduce nutrients in the clippings back into the soil system. In case of fungal disease outbreaks, the clippings will be collected until the disease is under control. The mulching kit must be left in the “closed” position at all times, specifically when mowing pond banks and all parks. Additionally, when mowing pond banks, mowers must be used in a counterclockwise direction. If the conditions are such that it is too wet to mow, crews must line trim this area. Contractor will be responsible for line-trimming these areas during each and every mow event. Contractor is to include in his proposal, any and all necessary equipment, protective clothing or any other gear necessary for crews to perform this work. No “extras” will be billed to the District. The CONTRACTOR shall set a date to restore any noticeable damage caused by the CONTRACTOR’S mowing equipment within twenty-four hours from the time the damage is caused at his sole cost and expense. Contractor shall be responsible for training all its personnel in the technical aspects of the District’s Landscape Maintenance Program and general horticultural practices. This training will also include wetland species identification as it relates to pond banks & wetland areas. The Contractor shall be held responsible for all damage to wetlands, littoral shelves, mitigation areas and uplands due to mowing/fertilizing, etc. Weekend work is permitted when necessary upon prior approval.

1A)

POND MAINTENANCE - All ponds identified as such on the overall NatureWalk

Maintenance Exhibit shall be mowed incorporating the same mowing schedule as the common areas stated above. Line trimming at water’s edge, control structures, mitered end

sections and any other storm water structures shall occur each and every time the pond is maintained. Pond banks will be trimmed to water’s edge. Careful attention must be paid to

16

1B)  TRAIL MAINTENANCE - Trail areas shall be maintained on a regular monthly basis, with additional visits as necessary to address conditions that cannot remain unattended between scheduled maintenance cycles, including but not limited to debris removal, selective trimming, invasive and volunteer plant control, edge definition, pruning encroachments, and general detailing. Maintenance shall be performed up to the legally permissible limit adjacent to conservation or preservation areas, as defined by approved plans, recorded plats, buffers, easements, and applicable regulations.

Areas natural in appearance but located outside conservation or preservation areas shall be maintained in a neat and orderly condition and kept reasonably free of dead material, invasive species, and nuisance or volunteer plants, using methods permitted by applicable laws and ordinances. No plant material, branches, or debris shall extend into or over walkways unless clearance exceeds eight (8) feet. Crack weeds within paved trails or hard surfaces shall be maintained using permitted methods consistent with pesticide regulations, stormwater protections, and proximity restrictions; where chemical applications are restricted, mechanical or manual methods shall be utilized. Hard surfaces shall be blown off or cleared of debris as needed, provided debris is not discharged into stormwater systems or adjacent natural areas. Dead or hazardous trees shall be identified and proposed for removal, with all removals subject to required approvals and permitting. All work shall be performed in compliance with Walton County ordinances, State of Florida statutes and rules, wildlife protections, stormwater regulations, and CDD requirements, and any activity restricted by such regulations shall not constitute a failure to perform.

2)

EDGING AND TRIMMING – All hard-edged areas (curbs, sidewalks, bike

paths, trails, etc.) shall be vertically edged at each and every mowing event and soft-edged areas (tree rings, shrub and groundcover bed lines) shall be edged a minimum of every other week. All edging shall be performed to the sole satisfaction of the DISTRICT. Chemical edging shall not be permitted anywhere on property.

AT NO TIME SHALL LAWN BE ALLOWED TO GROW IN AN UNSIGHTLY MANNER. SHOULD THIS OCCUR, CONTRACTOR AGREES TO CORRECT WITHIN TWENTY-FOUR HOURS’ NOTICE BY DISTRICT. CONTRACTOR SHALL COMPLETE ALL LAWN MAINTENANCE ACTIVITIES (MOWING, EDGING, LINE TRIMMING, BLOWING  OFF  SIDEWALKS,  DRIVEWAYS,  CURB  &  GUTTERS,  ETC.)  IN

17

RELATIVELY SMALL, MANAGEABLE SECTIONS. CONTRACTOR IS NOT TO LEAVE GRASS CLIPPINGS, TRIMMED WEEDS, TURF, DIRT OR DEBRIS ON ANY SURFACES FOR MORE THAN TWO HOURS. PARK SITES, CLUBHOUSES, PARKING LOTS AND ALL OTHER HIGH TRAFFIC AMENITIES ON THE PROPERTY SHALL BE CLEARED IMMEDIATELY AFTER MOWING AND EDGING TAKES PLACE. IF A MOWING EVENT IS MISSED, EVERY EFFORT SHALL BE MADE TO PERFORM THE MOWING SERVICE THE SAME WEEK (INCLUDING SATURDAYS WITH PRIOR APPROVAL). IF THIS IS NOT POSSIBLE, THE CONTRACTOR SHALL PROVIDE THE DISTRICT A CREDIT FOR FUTURE SERVICES OR ADD A MOWING EVENT TO BE PROVIDED AT A LATER DATE. THE DISTRICT SHALL DETERMINE WHETHER THE CREDIT OR EXTRA MOWING SHALL BE USED.

3)

TREE AND SHRUB CARE – All deciduous trees shall be pruned when dormant

to ensure proper uniform growth. All evergreen trees shall be pruned in the early summer

and fall to ensure proper growth and proper head shape. Sucker growth at the base of the trees shall be removed by hand continuously throughout the year. Aesthetic pruning shall consist of the removal of dead and/or broken branches as often as necessary to have trees appear neat at all times. Branches will be pruned just outside the branch collar. Contractor is responsible for the removal of all branches and limbs up to a 4” diameter and up to a 15’ height to keep them from encroaching onto buildings (including roofs), signage structures, play structures, fences & walls, as well as pruned to prevent street lights and traffic signage from being blocked. Additionally, trees shall be pruned over sidewalks, nature trails, parking lots and roadways so as not to interfere with pedestrians or cars. (This is to include maintaining at all times a minimum of ten to fifteen (10-15) feet of clearance under all limbs over sidewalks/turf areas (10’) in and outside of ROW’s and roads (15’), respectively. This may depend on location and species of tree and shall vary according to DOT specs. All moss hanging from trees (including ball moss) shall be removed up to a height of 15’ from all CDD-maintained trees on an as-needed basis. During the dormant season, ALL Crape Myrtles shall have ALL mosses removed up to a height of 15’. During this time, all Crape Myrtles less than 15’ in height must be pruned. This includes the removal of all seed pods. Crape Myrtles are not to be “hat racked” at any time. Pencil to thumb pruning is the preferred method of Crape Myrtle pruning and shall be performed after threat of frost has passed but before new growth flushes. Any initial removal of all Spanish and Ball Mosses shall be included in the proposals and completed within ninety
(90) days of contract commencement.

All shrubs will be pruned as necessary to retain an attractive shape and fullness, removing broken or dead limbs as necessary to provide a neat and clean appearance. Shrubs shall not be clipped into balled or boxed forms unless such forms are required by design. Shrubs shall be pruned in accordance with the intended function of the plant in its present location. Flowering shrubs shall be pruned immediately after the blossoms have cured with top pruning restricted to shaping the terminal growth. All pruning shall be done with horticultural skill and knowledge to maintain an overall acceptable appearance consistent with the current aesthetics of NatureWalk. The Contractor agrees that pruning is an art that must be done under the supervision of a highly trained foreman and shall make provisions for such supervision. Contractor shall sterilize all pruning

18

equipment prior to pruning the next shrub grouping; particularly when fungal diseases are known to be present. All clippings and debris from pruning will be carted away at the time pruning takes place. It is of utmost importance that all plant material within clear site lines and visibility triangles at roadway intersections and medians is maintained at or below the required heights. It is the Contractor’s responsibility to bring to the attention of the District all areas that are not in compliance. If pruning will bring the area into compliance, then the Contractor, after conferring with District’s representative, will proceed with the pruning activity. However, if pruning will not bring the area into compliance, perhaps due to permanent existing grades, then another solution will need to be proposed and executed. Contractor will also be responsible to keep pinestraw pulled away from the base of all landscape lights at all times, not just after a top dressing event.

AREAS WHERE WETLANDS ARE ADJACENT TO TURF AREAS (WHETHER ALONG ROADWAYS, MAINTAINED TRACTS BEHIND RESIDENTS OR POND BANKS) CONTRACTOR IS RESPONSIBLE TO KEEP ALL WETLAND MATERIAL CUT BACK AT ALL TIMES AND NOT LET THIS MATERIAL REDUCE THE SIZE OF THE TURF AREA.

Palms: All palms (regardless of height) shall receive pruning as often as necessary to appear neat and clean at all times. This includes the removal of brown and/or broken fronds and inflorescence. Removal of green or even yellowing fronds is unnecessary and pruning palms above the nine o’clock – three o’clock line is prohibited unless there are dead fronds. Fronds should be removed only once they turn brown or become broken or are disrupting flow of pedestrian/vehicular traffic or are hanging on architectural structures. Fruit pods shall be removed prior to development. Tarpaulins shall be used in areas where date palms and other palm fruits may stain sidewalks & pavement including, but not limited to, pool decks. Contractor shall be responsible for the removal of all palm fruit stains. Contractor shall sterilize all pruning equipment prior to pruning the next palm, paying careful attention when pruning Medjool, Sylvester, Reclinata and Canary Palms.

4)

WEEDS AND GRASSES – All groundcover, turf areas, shrub beds & tree rings

shall be kept reasonably free of weeds and grasses and be neatly cultivated and maintained in an orderly fashion at all times. This may be accomplished by carefully applied applications of pre-& post emergent herbicides as part of fertilizer mixtures and post-emergent herbicide spot treatments on an as-needed basis. Condition of turf is to be

determined by the DISTRICT at its sole discretion. All shrub and bed areas shall be maintained each mowing service by removing all weeds, trash and other undesirable material and debris (leaf and other) to keep the area neat and tidy. This is to be accomplished through hand pulling or the careful application of a post-emergent herbicide. AT NO TIME SHALL POST-EMERGENT HERBICIDES BE PERMITTED WHEN WEEDS HAVE ESTABLISHED THEMSELVES AS TO DOMINATE PLANTING BEDS. HAND PULLING MUST BE PERFORMED.
NON-SELECTIVE, POST-EMERGENT HERBICIDES SHALL NEVER BE USED TO CONTROL WEED/SOD GROWTH AROUND STRUCTURES OF ANY TYPE (I.E., STREET SIGNS, UTILITY BOXES, STREET LIGHTS, PAVEMENT, TREE RINGS, ETC.) THE FIRST OFFENSE WILL RESULT IN A VERBAL WARNING; THE SECOND OFFENSE WILL RESULT IN A SECOND VERBAL WARNING AND THE BOARD OF SUPERVISORS FOR THE DISTRICT WILL BE NOTIFIED; THE THIRD OFFENSE MAY TERMINATE THIS CONTRACT FOR

19

CAUSE AT THE DISTRICT’S DISCRETION. CONTRACTOR WILL BE HELD RESPONSIBLE FOR THE REPLACEMENT OF ALL TURF DAMAGED BY THE APPLICATION OR OVERSPRAY OF HERBICIDES (SELECTIVE OR NON-SELECTIVE).

The CONTRACTOR shall be responsible for the replacement of ornamental plants killed or damaged by herbicide application. All fence lines shall be kept clear of landscape shrubs growing through, weeds, undesirable vines and overhanging limbs.

MAINTENANCE OF PAVED AREAS – All paved areas (including, but not limited to, pool decks and other paver surfaces, sidewalk expansion joints, curb and gutters, curb and gutter expansion joints, bike lane edges along roadways) shall be kept weed & debris free. This may be accomplished by mechanical means (line trimmer) or by applications of post/pre-emergent herbicides. Weeds greater than two (2) inches in height or width shall be pulled from paved areas, not sprayed. No sprays with dyes may be used on any paved areas. Contractor is not to use non-selective herbicides to eradicate weeds in curb line expansion joints where the chemical can travel back into the turf causing regularly spaced dead patches behind the curbs and sidewalks.

CLEAN UP – At no time will CONTRACTOR leave the premises after completion of any work in any type of disarray. All clippings, trimmings, debris, dirt or any other unsightly material shall be removed promptly upon completion of work. CONTRACTOR shall use his own waste disposal methods, never the property dumpsters or natural areas. Grass clippings shall be blown off sidewalks, streets and curbs within a relatively short time frame and are not to be left for more than two hours, unless otherwise noted above. Also grass clippings shall be blown into turf areas, never into defined bed areas or tree rings as these are to be maintained free of grass clippings. Grass clippings at highly trafficked areas (i.e., tennis courts, clubhouse sidewalks, pool areas, walking trails, etc.) shall be blown off immediately after mowing and edging have taken place. NO CLIPPINGS SHALL BE BLOWN DOWN CURB INLETS.

REPLACEMENT OF PLANT MATERIAL – Trees and shrubs in a state of decline should immediately be brought to the attention of the DISTRICT. Dead or unsightly plant material shall be removed upon notification of the DISTRICT. CONTRACTOR shall be responsible for replacement if due to his negligence. New plant material shall be guaranteed for a period of one (1) year for trees, shrubs, ground cover and lawn after final acceptance.

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PART 2

FERTILIZATION

Contractor shall abide by all requirements in the RULES OF THE ENVIRONMENTAL PROTECTION COMMISSION OF WALTON COUNTY for CHAPTER 1-15 “FERTILIZER USE AND LANDSCAPE MANAGEMENT” as well as FERTILIZER ORDINANCE 21-42. It is
the Contractor’s responsibility to become familiar with all the rules and requirements of the Ordinance. Copies of all Certifications of Training shall be supplied to CDD representative with submission of proposals.

NO PERSON SHALL APPLY FERTILIZERS CONTAINING NITROGEN AND/OR PHOSPHORUS TO TURF AND/OR LANDSCAPE PLANTS FROM JUNE 1 THROUGH SEPTEMBER 30. DURING ONE OR MORE OF THE FOLLOWING EVENTS: i) IF IT IS RAINING AT THE APPLICATION SITE, OR ii) WITHIN THE TIME PERIOD DURING WHICH A FLOOD WATCH OR WARNING, OR A TROPICAL STORM WATCH OR WARNING, OR A HURRICANE WATCH OR WARNING IS IN EFFECT FOR ANY PORTION OF WALTON COUNTY, ISSUED BY THE NATIONAL WEATHER SERVICE, OR
iii) WITHIN 36 HOURS PRIOR TO A RAIN EVENT GREATER THAN OR EQUAL TO 2 INCHES IN A 24 HOUR PERIOD IS LIKELY.

For purposes of proposing and until a soil test is provided to indicate otherwise, all turf shall be fertilized according to the following IFAS Guidelines for a moderate maintenance level for northwest Florida turf:

All Centipede Sod: (if present)

March

A complete fertilizer based on soil tests + PreM
(Centipede requires low nitrogen; IFAS limits total N to ~1 lb. N/1000 SF

May July
September

Summer blends containing iron and manganese only (no nitrogen)
Iron and micronutrients only, if color is needed
(No fall nitrogen recommended for centipede in North Florida)

All Zoysia Sod: (if present)

April May July October

A complete fertilizer based on soil tests + PreM
SRN (Slow-Release Nitrogen applied at >/2.0 lbs. N/1000 SF (cont. >) Summer blends containing iron and manganese (no nitrogen)

turf remains actively growing.

Prior to final fertilization selection, a complete soil test should be performed to test for soil pH as well as N, P & K levels. Should change be of merit, the Contractor shall notify the District in

21

writing prior to the implementation of such change At times environmental conditions may require additional applications of nutrients, augmenting the above fertilization programs to ensure that turf areas are kept uniformly GREEN, healthy and in top condition. It shall be the responsibility of the contractor to determine specific needs and requirements and notify the resident project representative when these additional applications are needed. Fertilizers containing iron shall be immediately removed from all hard surfaces to avoid staining before the sprinklers are activated after application of the fertilizer. Any stains caused by a failure to do so will be the responsibility of the contractor to remove.

Fertilizer shall be applied in a uniform manner. If streaking of the turf occurs, correction will be required immediately at no additional cost to owner. Fertilizer shall be swept/blown off of all hard surfaces onto lawns or beds in order to avoid staining. IT SHALL BE THE CONTRACTOR’S REPONSIBILITY TO REMOVE ANY STAINS FROM ANY HARD SURFACES ON THE PROPERTY CAUSED BY THEIR MISHANDLING OF FERTILIZER. Fertilizer shall not
be applied within ten (10) feet of the landward extent of any surface water. Spreader deflector shields are required when applying fertilizer by use of any broadcast or rotary spreader. Deflector shields must be positioned such that fertilizer granules are deflected away from all impervious surfaces and surface waters.

SHRUB, TREE & GROUNDCOVER FERTILIZATION:

For purposes of proposing, All SHRUBS, GROUNDCOVERS and TREES shall be fertilized according to the following specifications:

3 Times a year – (March, May, October)
A complete fertilizer (formula will vary according to soil test results) at a rate of 4-6 lbs. N/1000 sq. ft. /year. (A minimum 50% Nitrogen shall be in a slow-release form)

Fertilizer shall be applied by hand in a uniform manner, broadcast around the plants, but never in direct contact with stems or trunks. Fertilizer shall never be piled around plants. All fertilizer remaining on the leaves of the plants is to be brushed or blown off. IT IS THE CONTRACTOR’S RESPONSIBILITY TO REPLACE ANY PLANT MATERIAL DAMAGED BY FERTILIZATION BURN DUE TO HIS MISHANDLING OF PRODUCT.

PALM FERTILIZATION:

All Palms shall receive 1 ½ pounds of 8-2-12+4Mg with micronutrients per 100 SF of palm canopy four times per year (March, May, October & late November). The “2” should be reduced to “0” if a soil test indicates there is not a deficiency of Phosphorus in the soil. 100% of the N, K & Mg MUST be in slow- release form. All micronutrients must be in water soluble form. Fertilizer shall be broadcast evenly under the dripline of the canopy but must be kept at least 6” from the palm trunk.

The NatureWalk CDD requires that all fertilizer applied to all palms on the CDD property be 8-2-12+4Mg. The fertilizer label shall reflect that 100% of the N, K, Mg, and B sources be in slow-release or controlled-release form and all the Mn, Fe Zn & Cu sources be water soluble (generally

22

these will be sulfates, except for Fe, which can be chelated with EDTA or DTPA). No source of N, K, Mg or B should be water-soluble. This will be considered an unacceptable fertilizer. The information below reflects the most effective sources for the seven critical elements in Florida landscape palm fertilizers:

Element Recommended Sources:*

N - Sulfur-coated urea, resin (or polymer)-coated urea or ammonium salts, urea-formaldehyde P - Superphosphate, triple superphosphate, coated diammonium phosphate
K - Sulfur-coated potassium sulfate (may have additional polymer coating) Mg - Kieserite (magnesium sulfate monohydrate) granules
Mn - Manganese sulfate
Fe - Iron sulfate, FeEDTA and/or FeDTPA B - Granubor® (sodium borate)

*Based on data from Broschat (1991, 1996, 1997, 2008) and Broschat and Elliott (2005)Archival copy: for current recommendations see http://edis.ifas.ufl.edu or your local extension office.

Fertilizer shall not be billed equally on a monthly basis but invoiced the month after application.

CONTRACTOR shall provide the DISTRICT with PALM fertilizer analysis tags from the fertilizer in order to verify correct formulation and quantity prior to purchase. This is to allow time to verify nutrient sources for the macro and micronutrients ensuring they are in slow-release or water-soluble forms. Payment will not be made until the correct quantity and formulation has been verified and applied. CONTRACTOR must notify the DISTRICT five (5) working days in advance of the day the property is scheduled to be fertilized. Failure on the part of the CONTRACTOR to so notify the DISTRICT may result in the CONTRACTOR forfeiting any and all rights to payment for the applications made without notification.

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PART 3

PEST CONTROL

Insects and Disease in Turf: Insect and disease control spraying in turf shall be provided by the Contractor every month with additional spot treatment as needed. During the weekly inspections, the Contractor is responsible for the identification and eradication/control of disease and insect damage including but not limited to scale, mites, fungus, chinch bugs, grubs, nematodes, fire ants, mole crickets, etc. Contractor shall pay for chemicals. Please list all chemicals that you will include in your fertilizer applications in the space allocated for “formula” under the fertilization section in the proposal form. Also include the cost of these chemicals as part of the fertilizer application. Any anticipated additional treatments shall be included in the Pest Control portion of the proposal form.

Insects and Disease Control for Trees, Palms and Plants: The Contractor is responsible for treatment of insects and diseases for all plants. The appropriate insecticide or fungicide will be applied in accordance with state and local regulations, and as weather and environmental conditions permit. Contractor shall pay for chemicals. There are several afflictions that may be detrimental to the health of many trees and palms. Contractor will be fully responsible in the treatment of such afflictions. At the District’s discretion, this may include the quarterly inoculation of all palms susceptible to Lethal Yellowing and/or Lethal Bronzing fka Texas Phoenix Palm Decline. The cost of these inoculations should be included as a separate line item in your Pest Control price. Contractor is to identify those species of palms susceptible and supply a list of species and quantities with proposal. Each susceptible palm shall receive quarterly injections. Each injection site/valve can be used only twice. The third quarterly injection requires a new valve and injection site. Contractor is asked to provide cost per injection (material & labor) multiplied by quantity of susceptible palms multiplied by four inoculations per year in proposal form. The District reserves the right to subcontract out any and all OTC Injection events. This will not be included in the Contract Amount.

The Contractor is required to inspect all landscaped areas during each visit for indication of pest problems. When control is necessary, it is the responsibility of the Contractor to properly apply low toxicity and target-specific pesticide. If pesticides are necessary, they will be applied on a spot treatment basis when wind drift is a threat.
Careful inspection of the property on each visit is crucial to maintaining a successful program. It is the Contractor’s full responsibility to ensure that the person inspecting the property is properly trained in recognizing the symptoms of both insect infestations and plant pathogen damage (funguses, bacteria, etc.). It is also the Contractor’s responsibility to treat these conditions in an expedient manner.
It shall also be the Contractor’s responsibility to furnish the resident project representative with a copy of the Pest Management Report (a copy of which is included), which they are to complete at every service as well as all certifications (including BMP Certifications) of all pesticide applicators. Contractor shall familiarize themself with all current regulations regarding the applications of pesticides and fertilizers.

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If at any time the District should become aware of any pest problems, it will be the Contractor’s responsibility to treat pest within five (5) working days of the date of notification.

Fire Ant Control:

Contractor is required to inspect property each visit for evidence of fire ant

mounds and immediately treat upon evidence of active mounds. In small areas, control can be

achieved by individual mound treatment. Active mounds in larger turf areas will require broadcast application of bait. Contractor shall be responsible to knock down and spread out soil once mounds are dead.
For informational purposes only, Contractor is asked to provide the cost for the annual application of Top Choice in all finished landscape areas. UNLESS OTHERWISE DIRECTED, ONLY THOSE AREAS COVERED BY AUTOMATIC IRRIGATION ARE TO BE INCLUDED IN
THIS NUMBER. This is not to include pond banks behind the residential properties or between ponds and conservation areas.

Pest Control will not be included as a standard line item in each monthly billing but shall be invoiced as a separate line item the month after service is rendered.

Pest Control shall be included in the Contract Amount.

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PART 4

IRRIGATION SYSTEM MONITORING AND MAINTENANCE

Irrigation System. Contractor shall inspect and test the irrigation system components within the limits of the District a minimum of one (1) time per month. Areas shall include all existing irrigation components to date – approximately one ( ) pump & well, three (4) Irrigation Controllers and Fifty-One Zones.

These inspections shall include:

A.

Irrigation Controllers

1.
2.
3.
4.
5.
6.

Semi-automatic start of the automatic irrigation controller Check for proper operation
Program necessary timing changes based on site conditions & time DST Lubricate and adjust mechanical components
Test back up programming support devices
Ensure the proper operation of each automatic rain shutoff device. If none, provide

proposal for the installation to be included in the 30-day irrigation audit.

B.

Water Sources
Visual inspection of water source
Clean all ground strainers and filters
Test each pump at design capacities weekly; inform District Manager of any problems immediately. This is to minimize the time a water source is down. Contractor shall also confirm weekly that all backflow preventers are on and operating properly, if applicable.
Test automatic protection devices

C.

Irrigation Systems
Manual test and inspection of each irrigation zone in its entirety.
Clean and raise heads as necessary
Adjust arc pattern and distance for required coverage areas
Clean out irrigation valve boxes by keeping valve exposed

D.

Report
1.
2.
3.
4.

Irrigation operation time Irrigation start time Maintenance items performed
General comment and recommendations

The above list is for routine maintenance and adjustment of the existing irrigation system components. Locating and repairing or replacing automatic valves or control wires and irrigation controller or pump repairs as well as other larger scale repairs are to be considered additional items. Contractor shall provide a list of additional charges and pricing for such items other than routine maintenance as a separate price from this proposal.

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Routine irrigation maintenance is to be completed monthly. Each zone is to be turned on and operated for as long as necessary to verify proper operation. Each head, seal, nozzle, and strainer is to be inspected for adjustment and shall be aligned, packed, cleaned, and repaired, as necessary. Shrubs, groundcovers, and turf around sprinkler heads shall be trimmed to maintain maximum clearance at all times for the greatest coverage. It shall be the Contractor’s responsibility to ensure all drip tubing is covered with pinestraw prior to Contractor leaving the property. All below ground repairs involving valves, pumps and wiring require an estimate for all such repairs. Upon written approval from Management, Contractor shall proceed. In the event of an emergency, Contractor shall make a diligent effort to contact, with the approximate price or estimate of repairs, Management or their assign prior to making such repair.

Upon being awarded contract, Contractor shall have a period of thirty (30) days from date of commencement to perform a thorough audit of the entire irrigation system listing items that need repair/replacement in order for the system to operate properly. A completely separate audit may be provided by the Contractor listing those items that would “improve” the irrigation system. Any action taken regarding the Irrigation Audit will be at the Board of Supervisors’ discretion.

Assuming the Board of Supervisors approves the repairs listed in the 30-day audit and after such repairs have been made, after the thirty (30) day period has expired and for the duration of the contract, Contractor shall assume responsibility for any and all unreported maintenance deficiencies, including parts and labor, associated with the irrigation system of 2 inches or less, to include sprinkler heads, nozzles, drip, main and delivery lines and any associated fittings. Once approved, Contractor shall have a period of thirty (30) days to complete all repairs reported in the 30-day audit. The District Manager shall be notified what day and time of the week the irrigation tech will be available servicing the community. The Contractor will keep detailed irrigation reports consisting of run times and correct operation of system. A copy of this report will be maintained by the Contractor and a copy delivered to the District Manager or his designee, along with the weekly report upon request. At no time shall the Contractor leave the property knowing of the need for a repair and not reporting it.

Watering schedules shall meet all government regulations, and zone times will be adjusted depending on job conditions, climactic conditions and all watering restrictions of Walton County or any other governmental agencies. It is the responsibility of the Contractor to ensure the turf and plant material remains healthy. If the Contractor finds that the irrigation system cannot adequately cover the District in the allotted time, it will be the Contractor’s responsibility to bring this to the attention of the District representative and apply for a variance. Violations and/or fines imposed by any local or state agency will be deducted from the Contractor’s monthly payment unless a previous agreement has been executed by both parties.

Emergency service shall be available after normal working hours and an emergency telephone number will be provided to Management or their assign. Broken mainlines and irrigation valves stuck in the “open” position are to be considered emergencies. Freeze Protection. The Contractor shall describe ability and cost per application to provide freeze protection for pumps/wells.

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PART 5

ANNUAL INSTALLATION

Planting of Annuals. After prior approval by the Board of Supervisors, Contractor shall replace approximately 75 annuals in 4” pots up to three (3) times per year in existing CDD-maintained areas and maintain annuals to ensure a healthy appearance. The Contractor will have the type of annual to be installed pre-approved by the District or its representative in writing. An Annual Options Presentation for the entire year stipulating plant options and timing for each rotation shall be submitted to the District shortly after execution of contract in order for the District or its representative to select annual choice(s). Annuals shall be hand watered at the time of installation. The Contractor will remove dead or dying annuals before the appearance of such annuals could be reasonably described as an eyesore. If the beds are left bare prior to the next planting, the Contractor will keep such beds free of weeds at all times until the next planting rotation occurs. Timing shall be centered on a holiday rotation being planted no later than the end of the first week of December and rotate accordingly every four months. (April and Aug.)

Annual installation price shall include the removal of all dead annuals prior to placing new plants, regular deadheading, necessary soil adjustments, soil additives, fungicides, and monthly slow-release nutritional requirements at no additional cost to District. Contractor shall replace at his expense any annual that dies, fails to thrive or is damaged by insects/disease. Contractor shall also include in the spring rotation (March) at no additional cost to District, a major renovation of all annual beds. A potting mix specifically blended for annuals shall be used at this time and shall be replenished as necessary prior to each changeout throughout the year. All annual beds shall be raised eight to ten (8” – 10”) inches and covered with a layer of Pine Fines 1” thick. All this shall be provided at no additional cost to the District.

This item will not be included in the contract amount. Contractor shall provide a price per 4” plant as requested and shall submit with proposal. This work shall be invoiced separately in the month after service is rendered.

The District reserves the right to subcontract out any and all annual installation events.

[END]

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Tab 4

Bernard Wercinski
3434 Colwell Ave., Suite 200
Tampa, FL 33614

Docusign Envelope ID: 0A9A4F39-2863-81D8-8205-F2156803FD83

Docusign Envelope ID: D0C4327C-123E-835D-8095-242B2803A224

SETTLEMENT AGREEMENT

This SETTLEMENT AGREEMENT (this "Agreement") is made and entered into effective as of the 6th day of May, 2026 (the "Effective Date"), by and between TITAN ACQUISITIONS, LLC, a Florida limited liability company, and CH CAPITAL, INC., a Florida

corporation (collectively, "Titan"); DISTRICT, a local unit of special existing under the provisions of the

NATUREWALK	COMMUNITY	DEVELOPMENT
purpose government (the "District") duly organized and Uniform Community Development District Act of 1980,

Chapter 190, Florida Statutes, as amended (the "Act"); and U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION, as successor in interest to U.S. Bank National Association, a national banking association, as Trustee (the "Trustee"). In this Agreement, Titan, the District and the Trustee are hereinafter sometimes referred to separately as "Party" and collectively as "Parties."

RECITALS

A.

The District is a local unit of special purpose government duly organized and

existing under the provisions of the Act, by Ordinance No. 05-23 enacted by the Board of County Commissioners of Walton County, Florida on June 28, 2005, and is validly existing under the Constitution and laws of the State of Florida.

B.

Pursuant to the authority of the Act, the District issued its (i) Capital Improvement

Revenue Bonds, Series 2007A (the "2007A Bonds") and (ii) Capital Improvement Revenue Bonds, Series 2007B (the "2007B Bonds" and together with the 2007A Bonds, the "District Bonds") for purposes of financing various infrastructure improvements within the District which provide benefits to the lands within the District.

C.

The District Bonds were issued pursuant to the Act and the Master Trust Indenture,

dated as of March 1, 2007 (the "Master Indenture"), by and between the District and the Trustee, as supplemented by that certain First Supplemental Trust Indenture, dated as of March 1, 2007.

D.

Pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District

levied non-ad valorem special assessments (the "2007 Debt Assessments") securing the District Bonds on those developable portions of the benefitted lands within the District.

E.

Pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District also

levied non-ad valorem special assessments (the "O&M Assessments") to pay the operating and maintenance expenses of the District.

F.

Titan acquired the following parcel by virtue of a Trustee's Deed recorded in

Official Records Book 3386, Page 1671 of the public records of Walton County, Florida following

issuance of that certain Tax Deed (the "Tax Deed") dated August 26, 2025 and recorded in Official Records Book 3369, Page 432 of the public records of Walton County, Florida:

Parcel ID No. 11-3S-19-25010-000-00K1 (1.57 acres, also referred to as "Parcel L").

Docusign Envelope ID: 0A9A4F39-2863-81D8-8205-F2156803FD83

Docusign Envelope ID: D0C4327C-123E-835D-8095-242B2803A224

G.

Until approximately July 2020, Parcel L was owned by New Naturewalk, LLC, a

Florida limited liability company (the "SPE"), which SPE held title to Parcel L as an accommodation to the Trustee.

H.

There exists certain delinquencies in 2007 Debt Assessments against Parcel L

securing repayment of a portion of the 2007A Bonds (the "2007A Debt Assessments") and the 2007B Bonds (the "2007B Debt Assessments" and together with the 2007A Debt Assessments, the "Delinquent Debt Assessments").

I.
according
Statutes.

The O&M Assessments are collected annually by the Walton County Tax Collector to the Uniform Method (the "Uniform Method") afforded by Chapter 197, Florida

J.

Titan desires to enter into this Agreement to pay the amounts described herein to

cure the Delinquent Debt Assessments against Parcel L.

K.

The Trustee has received direction from the Majority Owners (as defined herein)

to enter into this Agreement on their behalf.

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

1.

INCORPORATION OF RECITALS.  The recitals stated above are true and

correct and are incorporated by reference herein as a material part of this Agreement.

2.

TITAN AND DISTRICT OBLIGATIONS. In order to induce the District and

Trustee to execute, deliver and perform under this Agreement, Titan covenants and agrees to:



pay a portion of the Delinquent Debt Assessments with respect to Parcel L and the District Bonds in an amount equal to $325,000.00 within fifteen
(15) days of the Effective Date (the "Settlement Amount"); and

(B)

enter into an Agreement Regarding Payment of Additional Consideration (the "Additional Consideration Agreement"), the form of which is attached hereto as Exhibit A.

The District agrees to enter into the Additional Consideration Agreement with respect to Parcel L providing for the payment of additional consideration ("Additional Consideration") by Titan, of $50,000.00 per unit in excess of six (6) units platted on Parcel L, all as described in the Exhibit A attached hereto.

Upon payment of the Settlement Amount the District and Trustee warrant and represent Titan will be current in all amounts owed to the District with respect to Parcel L with the exception of any annual O&M Assessments that are currently due and payable. For avoidance of doubt, the obligation to pay the Settlement Payment and any Additional Consideration is a joint and several responsibility of Titan Acquisitions, LLC, and CH Capital, Inc.

2

Docusign Envelope ID: 0A9A4F39-2863-81D8-8205-F2156803FD83

Docusign Envelope ID: D0C4327C-123E-835D-8095-242B2803A224

3.

DISTRICT OBLIGATIONS. In order to induce Titan and the Trustee to execute,

deliver and perform under this Agreement, the District covenants and agrees that upon receipt of the Settlement Amount, as described herein, the District shall:

(A)

waive all penalties imposed on the Delinquent Debt Assessments with respect to Parcel L;

(B)

waive all past due accrued and unpaid interest that is not otherwise paid as provided by this Agreement on the Delinquent Debt Assessments with respect to Parcel L;

(C)

the District shall continue to annually levy and collect O&M Assessments against Parcel L based on its existing assessment methodology and annual budget. O&M Assessments will be levied and collected on an annual basis against individual units following each unit's platting in accordance with the

District's adopted assessment methodology and annual budget.

In all

events, upon final platting of Parcel L, O&M Assessments shall be levied and collected on an annual basis against the individual platted units within Parcel L on a per-unit basis. The forgoing is intended to make clear that once the entirety of Parcel L is platted, O&M Assessments will be based on the actual number of units platted, whether more than, less than, or equal to

the six (6) units currently anticipated. Nothing herein shall be construed in any way to limit the District's budgeting authority or its authority to change, amend, or revise its assessment methodology relative to the O&M Assessments.

(D)

the District shall upon recordation of the final plat for Parcel L and receipt of any Additional Consideration, if required, cancel the remaining outstanding 2007 Debt Assessments levied on Parcel L. The District shall further record in its Improvement Lien Book a reduction of the District's 2007 Debt Assessments in connection with Parcel L in accordance with the cancellation of the outstanding Delinquent Debt Assessment and any future 2007 Debt Assessments associated with Parcel L.

4.

TRUSTEE OBLIGATION.	In order to induce Titan to execute, deliver and

perform under this Agreement, Trustee shall cause the SPE to execute and deliver to Titan contemporaneously upon Titan's execution and delivery of this Agreement and the Settlement

Agreement a quitclaim deed for Parcel L (the "SPE Quit Claim Deed") in the form attached hereto as Exhibit B. The Trustee shall also take such actions as necessary to reflect that the District Bonds secured by Debt Assessment levied on Parcel L have been paid, canceled, or defeased as appropriate upon the District's receipt of the Settlement Amount, the Additional Consideration (if required), and the District's cancellation and reduction of the 2007 Debt Assessments as contemplated in Section 3 herein.

5.

AGREEMENT REGARDING PARCEL L COLLECTIONS THEREON.

The Parties agree that so long as Titan is current on its obligations under Section 2 of this

Agreement, including the payment of O&M Assessments, the District will not take action to

3

Docusign Envelope ID: 0A9A4F39-2863-81D8-8205-F2156803FD83

Docusign Envelope ID: D0C4327C-123E-835D-8095-242B2803A224

foreclose on Parcel L. The Trustee, on behalf of the Majority Owners of the District Bonds consents and agrees to the foregoing and agrees that it shall not and cannot direct the District to take any action inconsistent with the foregoing.

6.

EVENT OF DEFAULT. The occurrence of any of the following, without the prior

written consent of the Trustee, shall constitute an "Event of Default" under this Agreement.

(A)

If any of the representations or warranties made hereunder by or on behalf of Titan (including the Recitals hereto) shall not have been true, accurate or complete in any material respect when made.

(B)

Titan shall assert in writing that this Agreement is not enforceable.

(C)

Titan (i) petitions for relief, or has a petition for relief filed against it, under the United States Bankruptcy Code, (ii) petitions for relief, or has a petition for relief filed against it, pertaining to any reorganization, composition, readjustment, liquidation of assets, or similar relief under any present or future law or regulation, or (iii) seeks, or fails to prevent, the appointment of any trustee, receiver or liquidator of Titan or of substantially all of the assets of Titan, or (iv) makes a general assignment for the benefit of creditors, or (v) is unable, or admits in writing its inability, to pay its debts generally as they become due (any, some or all of (i) through (v).

(D)

Titan shall fail to pay the Settlement Amount or comply with the payment obligations in Section 2.

Upon the occurrence of an Event of Default, the Trustee may terminate this Agreement and/or proceed with any and all rights and remedies under applicable law under this Agreement or otherwise available to the Trustee, subject to the Cure Period (as defined herein). Upon the occurrence of an Event of Default in (A), (B) or (D) in this Section 6, Titan shall send prompt written notice to the Trustee which shall serve as written notice from the Trustee commencing the Cure Period. Upon sending written notice, Titan will have 30 calendar days to cure such Event of Default in (A), (B) or (D) in this Section 6 (the "Cure Period") described herein. Titan has no right to notice from the Trustee or a cure period with regard to (C) in this Section, but shall promptly send written notice to the Trustee should any of the events in (C) occur.

7.

DEEMED AMENDMENT OF INDENTURE; CONSENT. To the extent that

the provisions of this Agreement conflict with any provision of the Master Indenture, the Master Indenture shall be deemed to be amended to conform to the conflicting provision of this Agreement and any provisions required for such amendments are waived. Consent to such amendment shall be evidenced in the written direction to the Trustee by the Beneficial Owners of no less than 51% of the principal amount of the outstanding District Bonds (the "Majority Owners") to execute this Agreement.

8.

AGREEMENT. This instrument shall constitute the final and complete expression

of this Agreement among the Parties relating to the subject matter of this Agreement.

4

Docusign Envelope ID: 0A9A4F39-2863-81D8-8205-F2156803FD83

Docusign Envelope ID: D0C4327C-123E-835D-8095-242B2803A224

9.

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 all of the parties hereto and subject to the written consent of the Majority Owners.

10.

AUTHORIZATION. 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 instrument.

11.

THIRD PARTY BENEFICIARY.  The Parties hereto agree and acknowledge

that the Trustee is executing this Agreement with the consent of, and at the direction of, the

Majority Owners of the District Bonds and that the holders of the District Bonds, although not a signatory hereto, are nonetheless third-party beneficiaries of this Agreement. The Parties further agree and acknowledge that the covenants, settlements, representations and warranties made herein by the Parties are also for the benefit of Titan's successors in title to Parcel L.

12.

CONTROLLING LAW AND VENUE.	This Agreement and the provisions

contained herein shall be construed, interpreted and controlled according to the laws of the State

of Florida. Each Party consents that the venue for any litigation arising out of or related to this Agreement shall be in Walton County, Florida.

13.

EFFECTIVE DATE AND TERM. This Agreement shall be effective as of the

Effective Date.  If Titan fails to timely pay the Settlement Amount, then this Agreement shall

terminate in its entirety. Upon any such termination, any amounts that are due and owing as to Parcel L, including, but not limited to Debt Assessments that have accrued, shall immediately become due and payable to the District. This Agreement shall terminate subject to Section 22 herein, following: payment in full of (i) the Settlement Amount and (ii) Additional Consideration, if required, following final platting of Parcel L.

14.

TITAN ACQUISITIONS, LLC'S REPRESENTATIONS, WARRANTIES

AND COVENANTS. Titan Acquisitions, LLC hereby represents and warrants to the District and the Trustee that:

(A)

Titan Acquisitions, LLC is a limited liability company, duly organized and validly existing in the State of Florida;

(B)

Titan Acquisitions, LLC has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations hereunder;

(C)

The person executing this Agreement on behalf of Titan Acquisitions, LLC represents that he or she is duly authorized to execute this Agreement and to bind Titan Acquisitions, LLC;

(D)

Neither the execution and delivery of this Agreement nor the performance hereunder by Titan Acquisitions, LLC will result in any breach of, or constitute a default under or conflict with, any agreement, covenant or obligation binding upon Titan Acquisitions, LLC; and

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(E)

This Agreement has been duly authorized and executed by Titan Acquisitions, LLC in accordance with the articles of organization, operating agreement and other applicable organizational documents of Titan Acquisitions, LLC.

15.

CH

CAPITAL,	INC.'S	REPRESENTATIONS,	WARRANTIES	AND

COVENANTS. CH Capital, Inc. hereby represents and warrants to the District and the Trustee that:

(A)

CH Capital, Inc. is a for profit corporation, duly organized and validly existing in the State of Florida;

(B)

CH Capital, Inc. has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations hereunder;

(C)

The person executing this Agreement on behalf of CH Capital, Inc. represents that he or she is duly authorized to execute this Agreement and to bind CH Capital, Inc.;

(D)

Neither the execution and delivery of this Agreement nor the performance hereunder by CH Capital, Inc. will result in any breach of, or constitute a default under or conflict with, any agreement, covenant or obligation binding upon CH Capital, Inc.; and

(E)

This Agreement has been duly authorized and executed by CH Capital, Inc. in accordance with the articles of organization, operating agreement and other applicable organizational documents of CH Capital, Inc.

16.

REPRESENTATIONS AND WARRANTIES OF THE DISTRICT.

The

District hereby represents and warrants to Titan and the Trustee that:

(A)

The District is a unit of special purpose government duly organized and validly existing in good standing under Chapter 190, Florida Statutes;

(B)

The District has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations under this Agreement;

(C)

This Agreement has been duly authorized and executed by the District in accordance with all applicable law and authority documents applicable to the District;

(D)

The person executing this Agreement on behalf of the District represents that he or she is duly authorized to execute this Agreement and to bind the District; and

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(E)

Neither the execution and delivery nor the performance of this Agreement by the District conflicts with, is a breach of, or constitutes a default under, any agreement, covenant or obligation binding upon the District.

17.

REPRESENTATIONS AND WARRANTIES OF THE TRUSTEE.

The

Trustee hereby represents and warrants to Titan and the District that:

(A)

The Trustee is executing this Agreement solely at the direction and consent of the Majority Owners.

(B)

The Trustee is a national banking association duly organized and validly existing in good standing under the law of the United States;

(C)

The Trustee has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations under this Agreement;

(D)

This Agreement has been duly authorized, executed and delivered by the Trustee in accordance with all applicable organizational and authority documents of Trustee and any agreements binding upon the Trustee;

(E)

The person executing this Agreement on behalf of the Trustee represents that he or she is duly authorized to execute this Agreement and to bind the Trustee; and

(F)

Neither the execution and delivery nor the performance of this Agreement by the Trustee conflicts with, is a breach of, or constitutes a default under, any agreement, covenant or obligation binding upon the Trustee.

18.

NOTICES. Except as may be expressly stated to the contrary in this Agreement,

notices, documents, demands, or certificates given by any Party in connection with this Agreement

or the performance by either Party under this Agreement shall be in writing and shall be delivered or sent by one of the following methods: (a) in person (by hand delivery or professional messenger service) to the addressee Party, (b) registered or certified mail, with postage prepaid, return receipt requested, (c) Express Mail of the U.S. Postal Service or Federal Express (a/k/a FedEx) or any other courier service guaranteeing next business day delivery, charges prepaid, or (d) by email transmission. Notices shall be sent or delivered to the following addresses:

If to the District:

NatureWalk Community Development District Attention: District Manager/Stephanie DeLuna Rizzetta & Company, Inc.
120 Richard Jackson Blvd., Suite 220 Panama City Beach, FL 32407 Email: Sdeluna@rizzetta.com

With a copy to:

District Counsel/Joseph Brown Kutak Rock LLP
107 W College Avenue

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Tallahassee, FL 32301
Telephone: 850-692-7300
Email: joseph.brown@kutakrock.com

If to Titan:

CH Capital, Inc.
Attn: Chris B. Hemmings, President 1510 S. Clark Avenue
Tampa, FL 33629
Email: anchortitletampa@gmail.com

With a copy to:

David W. Adams
Bennet Jacobs & Adams, P.A.
P.O. Box 3300
Tampa, FL 33601-3300
Telephone: 813-452-2882 Email: dadams@bja-law.com

If to the Trustee:

U.S. Bank Trust Company, National Association Account Manager/Vice President
Corporate Trust Services Two James Center
1021 East Cary Street, 18th Floor Richmond, VA 23219
Attention: Christopher H. Gehman Email: christopher.gehman@usbank.com

With a copy to:

Greenberg Traurig, P.A.
450 South Orange Avenue, Suite 650
Orlando, FL 32801
Attention: Warren S. Bloom, Esq. Email: bloomw@gtlaw.com

Any such notice, document, demand, or certificate sent by registered or certified mail, return receipt requested, shall be deemed to have been duly given and received upon the earlier of actual receipt or seventy-two (72) hours after the same is so addressed and mailed with postage prepaid. Notices delivered by Express Mail of the U.S. Postal Service or Federal Express (a/k/a FedEx) or other courier service guaranteeing next business day delivery shall be deemed to have been given twenty-four (24) hours after delivery of the same to the U.S. Postal Service or private courier, with charges prepaid and instructions for next business day delivery. If any notice is transmitted by email, the same shall be deemed served or delivered upon transmission thereof, assuming no error receipt has been received within twenty-four (24) hours after transmission thereof. Any notice, document, demand, or certificate sent by any other method shall be effective only upon actual receipt thereof or the addressee's refusal to accept delivery, whichever occurs first. Any Party may change its address for purposes of this Section 18 by giving notice to the other Party as provided herein.

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19.

TIME OF THE ESSENCE. Time shall be of the essence as to all dates, deadlines

and times of performance under this Agreement. Notwithstanding the foregoing, in the event any date or any deadline for the performance of an action or the giving of any notice falls on any day

that is not a Business Day, or any period provided for in this Agreement shall expire on any day that is not a Business Day, then the date for the performance of such action or giving of such notice, or the expiration date of such period, as applicable, shall be automatically extended to midnight of the next following Business Day. For the purposes of this Agreement, the term "Business Day" shall mean and refer to any day that is not a Saturday, Sunday, or national holiday.

20.

GOOD FAITH AND FAIR DEALING. The Parties agree to exercise good faith

and fair dealing in the performance of their respective contractual obligations hereunder.

21.

PUBLIC RECORDS. The Parties understand and agree that all documents of any

kind provided to the District or Titan in connection with this Agreement may be public records and treated as such in accordance with Florida law.

22.  SURVIVAL OF CERTAIN PROVISIONS. The provisions of Sections 10, 11, 23, 24 and 25 of this Agreement shall survive the expiration or earlier termination of this Agreement. Section 3 shall survive the expiration of this Agreement.

23.

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.

24.

LIMITATIONS ON LIABILITY. Nothing in this Agreement shall be deemed as

a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of

immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

In addition, any provision of this Agreement to the contrary notwithstanding, the Trustee has executed this Agreement only in its capacity as the trustee under the Master Indenture and only for the purpose of evidencing the consent of the Majority Owners of the District Bonds to the transactions contemplated herein, and not individually or for the purpose of being bound in its individual or personal capacity. The Trustee shall not have any individual or personal liability under or related to this Agreement.

25.

FURTHER ASSURANCES. The Parties agree to execute, acknowledge, deliver

and record such certificates, amendments, instruments, and documents, and to take such other action, as may be reasonably necessary to carry out the intent and purposes of this Agreement.

26.

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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27.

ASSIGNMENT AND TRANSFERS. Titan may assign or sell its rights, duties or

obligations under this Agreement or any monies to be paid under this Agreement without the prior written consent of any other Party. Titan shall require as a condition of the sale to any third-party purchasing all or a portion of Parcel L for value, on which no plat has been recorded in the land

records of Walton County, that such third-party shall enter into an agreement on the same terms and conditions as the Additional Consideration Agreement attached hereto and incorporated herein as Exhibit A. The District shall also be required to enter into an agreement on the same terms and conditions as the Additional Consideration Agreement attached hereto and incorporated herein as Exhibit A with any third party purchasing all or a portion of Parcel L for value on which no plat has been recorded in the land records of Walton County.

28.

WAIVER OF JURY TRIAL. To the extent permitted by applicable law, each of

the Parties, knowingly, voluntarily and intentionally waives any right each may have to a trial by

jury in respect of any litigation based on, or arising out of, under or in connection with this Agreement, or any course of conduct, course of dealing, statements (whether verbal or written) or actions of any Party with respect hereto.

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ATTEST:

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

By:		 Jonette Coram, Chair, Board of Supervisors
5/6/2026
Date:

Secretary/Assistant Secretary

S-2

U.S. BANK TRUST COMPANY, NATIONAL
ASSOCIATION, as Trustee

By:		 Christopher H. Gehman, Vice President
Date: April 7, 2026

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EXHIBIT A

FORM OF ADDITIONAL CONSIDERATION AGREEMENT

[ATTACHED]

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This instrument was prepared by and Upon recording should be returned to:

(This space reserved for Clerk)

Warren S. Bloom, Esq. Greenberg Traurig, P.A.
450 S. Orange Avenue, Suite 650
Orlando, FL 32801

Parcel Identification No. 11-3S-19-25010-000-00K1

AGREEMENT BETWEEN
NATUREWALK COMMUNITY DEVELOPMENT DISTRICT, AND TITAN ACQUISITIONS, LLC AND CH CAPITAL, INC. REGARDING
PAYMENT OF ADDITIONAL CONSIDERATION

This Agreement is made and entered into as of this 	 day of April 2026 between:

by and

Naturewalk Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in Walton County, Florida, whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614 ("District"); and

Titan Acquisitions, LLC, a Florida limited liability company, whose address is 840
S. Davis Boulevard, Tampa, Florida 33606, and its successors and assigns ("Titan Acquisitions"); and

CH Capital, Inc., a Florida corporation, whose address is 1510 S. Clark Avenue, Tampa, Florida 33629 and its successors and assigns (CH Capital, and together with Titan Acquisitions, "Titan").

RECITALS

WHEREAS, the District was created by Ordinance No. 05-23 enacted by the Board of County Commissioners of Walton County, Florida on June 28, 2005, and is duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes (the "Act"); and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, pursuant to the authority of the Act, the District issued its (i) Capital Improvement Revenue Bonds, Series 2007A (the "2007A Bonds") and (ii) Capital Improvement Revenue Bonds, Series 2007B (the "2007B Bonds" and together with the 2007A Bonds, the

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"District Bonds") pursuant to the Master Trust Indenture, dated as of March 1, 2007 (the "Master Indenture"), by and between the District and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, a national banking association, as Trustee (the "Trustee"), as supplemented by that certain First Supplemental Trust Indenture, dated as of March 1, 2007 pursuant to which the District Bonds were issued for purposes of financing various infrastructure improvements within the District which provide benefits to the lands within the District; and

WHEREAS, pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District levied non-ad valorem special assessments (the "Debt Assessments") securing the District Bonds on those developable portions of the benefitted lands within the District; and

WHEREAS, as of the date of this Agreement, Titan is currently the undivided owner of Parcel ID No. 11-3S-19-25010-000-00K1 (1.57 acres, also referred to as "Parcel L"); and

WHEREAS, Titan, the District and the Trustee have entered into the Settlement Agreement of even date hereto (the "Settlement Agreement") to address certain outstanding delinquencies in the payment of Debt Assessments securing repayment of the 2007A Bonds (the "2007A Debt Assessments") and the 2007B Bonds (the "2007B Debt Assessments" and together, with the 2007A Debt Assessments, the “2007 Debt Assessments”) and other amounts owed to the District; and

WHEREAS, upon platting of Parcel L and subsequent payment of Additional Consideration (as defined herein), if required, the 2007 Debt Assessments in connection with Parcel L will be cancelled; and

WHEREAS, pursuant to the terms of the Settlement Agreement, Titan has committed to the development of six (6) units on Parcel L, but the actual densities developed may be more or less than the densities assumed herein; and

WHEREAS, the District and Titan desire to create a mechanism by which Titan shall make certain payments to the District in order to satisfy, in whole or in part, the assessments allocated and the liens imposed with respect to Parcel L; and

WHEREAS, Titan and the District desire to enter into this Agreement to confirm Titan's intentions and obligations to make a payment of $50,000.00 per unit at the time of platting for each unit in excess of six (6) units ("Additional Consideration").

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 parties agree as follows:

1.

RECITALS. The recitals so stated are true and correct and by this reference are

incorporated into and form a material part of this Agreement.

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2.

ADDITIONAL CONSIDERATION.

A.

Payment of Additional Consideration. When the proposed final plat is prepared for

Parcel L constituting any proposed plat submitted to the District that the District reasonably determines would render Parcel L fully platted or any remaining un-platted portion of Parcel L undevelopable (the "Final Plat") and presented to the District for review and approval, if the total amount of units to be platted is more than six (6) units then Additional Consideration in the amount of $50,000.00 per unit for each unit in excess of six (6) units will be due and payable by Titan.

The parties agree that any Additional Consideration, if required, will be paid within fifteen (15) business days of recording the Final Plat.

If the Additional Consideration is not timely paid, the District, after thirty (30) days' notice to Titan that the Additional Consideration is due, may record a Notice of Lien over the lands contained within the Final Plat in the official records of Walton County, Florida ("Walton County"), until such time as the Additional Consideration has been paid, with such liens running with the land. The District will ensure collection of such amounts in a timely manner in order to meet its debt service obligations, and in all cases, Titan agrees that such payments shall be made in order to ensure the District's timely payment of the debt service obligations on the District Bonds. The District shall record the Agreement to Pay Additional Consideration in its Improvement Lien Book. Upon payment of the Settlement Amount and Additional Consideration, if required, the District shall cause the lien release for the 2007 Debt Assessments regarding Parcel L to be recorded in the official records of Walton County.

The foregoing is based on Titan's representation to the District that Titan intends to develop six (6) units on Parcel L. However, the District agrees that nothing herein prohibits more or less than six (6) units from being developed. For avoidance of doubt, the obligation to pay any Additional Consideration is a joint and several responsibility of Titan Acquisitions, LLC, and CH Capital, Inc.

3.

ENFORCEMENT.  This Agreement is intended to be an additional method of

enforcement of Titan 's obligation to abide by the application of the Additional Consideration, if

required, and to guarantee payment of the Additional Consideration due on Parcel L. A default by either party under this Agreement shall entitle any other party 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.

4.

RECOVERY OF COSTS AND FEES. In the event either party is required to

enforce this Agreement by court proceedings or otherwise, then each prevailing party, as

determined by the applicable court or other dispute resolution provider, shall be entitled to recover from the non-prevailing party all fees and costs incurred, including reasonable attorneys' fees and costs incurred prior to or during any litigation or other dispute resolution and including all fees and costs incurred in appellate proceedings.

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5.

NOTICE.  All notices, requests, consents and other communications hereunder

("Notices") shall be in writing and shall be delivered via overnight delivery service, telecopied or hand delivered to the parties, as follows:

If to District:

Naturewalk Community Development District Attention: District Manager/Stephanie DeLuna Rizzetta & Company, Inc.
120 Richard Jackson Blvd., Suite 220 Panama City Beach, FL 32407 Email: Sdeluna@rizzetta.com

With a copy to:

District Counsel / Joseph Brown Kutak Rock LLP
107 W College Avenue Tallahassee, FL 32301
Telephone: 850-692-7300
Email: joseph.brown@kutakrock.com

If to Titan:

CH Capital, Inc.
Attn: Chris B. Hemmings, President 1510 S. Clark Avenue
Tampa, FL 33629
Email: anchortitletampa@gmail.com

With a copy to:

David W. Adams
Bennet Jacobs & Adams, P.A.
P.O. Box 3300
Tampa, FL 33601-3300
Telephone: 813-452-2882 Email: dadams@bja-law.com

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. Notices hand delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non- business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the parties may deliver Notice on behalf of the parties.

Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein. Notwithstanding the foregoing, to the extent Florida law requires notice to enforce the collection of assessments placed on property by the District, then the provision of such notice shall be in lieu of any additional notice required by this Agreement.

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6.

ASSIGNMENT AND TRANSFERS. This Agreement shall run with the land.

Titan may assign or sell its rights, duties or obligations under this Agreement or any monies to be

paid under this Agreement without the prior written consent of any other party to the Settlement Agreement. Titan shall require as a condition of the sale to any third-party purchasing all or a portion of Parcel L for value, on which no plat has been recorded in the land records of Walton County, that such third-party shall enter into an agreement on the same terms and conditions as this Agreement. The District shall also be required to enter into an agreement on the same terms and conditions as this Agreement with any third-party purchasing all or a portion of Parcel L for value on which no plat has been recorded in the land records of Walton County.

7.

AMENDMENT. This Agreement shall constitute the entire agreement between

the parties and may be modified in writing only by the mutual agreement of all parties.

8.

TERMINATION. This Agreement shall continue in effect until it is rescinded in

writing by the mutual assent of each party. This Agreement shall automatically terminate upon payment in full of the District Bonds, or once all Additional Consideration, if required, has been paid.

9.

NEGOTIATION AT ARM'S LENGTH. This Agreement has been negotiated

fully between the parties as an arm's length transaction.	All 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, all parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against either party.

10.

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 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; notwithstanding the foregoing, the Trustee is made a third party beneficiary for the benefit of the bondholders to enforce the terms hereof in the event the District does not do so.

11.

LIMITATIONS ON GOVERNMENTAL LIABILITY.

Nothing in this

Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes or other statute, and nothing in this

Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

12.

APPLICABLE LAW AND VENUE. This Agreement shall be governed by the

laws of the State of Florida. Each party consents that the venue for any litigation arising out of or related to this Agreement shall be in Walton County, Florida.

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13.

EXECUTION IN COUNTERPARTS. This instrument may be executed in any

number of counterparts, each of which, when executed and delivered, shall constitute an original, and such counterparts together shall constitute 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.

14.

EFFECTIVE DATE. This Agreement shall become effective after execution by

the parties hereto on the date reflected above.

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IN WITNESS WHEREOF, the parties execute this Agreement Regarding Payment of Additional Consideration the day and year first written above.

WITNESSES:

TITAN ACQUISITIONS, LLC, a Florida limited liability company

By:	

As its 	

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF HILLSBOROUGH

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this      day of 	 2026, by 	 as
	 of Titan Acquisitions, LLC, a Florida limited liability company, on its behalf. He/She ☐ is personally known to me or ☐ has produced 	 as identification.

NOTARY PUBLIC

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WITNESSES:

CH CAPITAL, INC., a Florida corporation

By:		 Chris B. Hemmings
As its President

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF HILLSBOROUGH

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this     day of 		 2026, by Chris B. Hemmings as President of CH Holdings, Inc., a Florida corporation, on its behalf. He ☐ is personally known to me or ☐ has produced 	 as identification.

NOTARY PUBLIC

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WITNESSES:

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

By:		 Jonette Coram
Chairperson, Board of Supervisors

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF WALTON

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this     day of 	 2026, by Jonette Coram as Chair of the Board of Supervisors of the Naturewalk Community Development District. She ☐ is personally known to me or ☐ has produced 		 as identification.

NOTARY PUBLIC

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EXHIBIT B

FORM OF SPE QUITCLAIM DEED

[ATTACHED]

B-1

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PREPARED BY AND RETURN TO:
Anchor Title and Associates 1510 S. Clark Avenue Tampa, Florida 33629
Attn: Chris Hemmings

Parcel Identification No. 11-3S-19-25010-000-00K1

QUIT CLAIM DEED

THIS QUIT CLAIM DEED made this    day of April, 2026, by and between NEW NATUREWALK, LLC, a Florida limited liability company, whose mailing address is 5701 Yeats Manor Drive, Unit 401, Tampa, Florida 33616, hereinafter called the grantor, to TITAN ACQUISITIONS, LLC, a Florida limited liability company, and CH CAPITAL, INC., a Florida corporation, whose address is 840 S. Davis Boulevard, Tampa, Florida 33606, hereinafter called the grantee:

(Wherever used herein the term "grantee" includes the party named as such above, and its successors and assigns)

W I T N E S S E T H:

That the grantor, for and in consideration of the sum of $10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby remises, releases, and quitclaims unto the grantee, all right, title and interest of grantor, if any, in and to that certain land situate in Walton County, Florida, viz:

See attached EXHIBIT A

TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining, if any.

Grantor makes no warranties or representations of any type with respect to the property which is the subject of this Quit Claim Deed.

This deed is given for the purpose of clearing any cloud on title on the property described herein arising by virtue of that certain Tax Deed dated August 26, 2025, recorded in Official Records Book 3369, Page 432 of the Public Records of Walton County, Florida.

TO HAVE AND TO HOLD, the same in fee simple forever.

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IN WITNESS WHEREOF, Grantor has caused these presents to be executed on this, the day and year first above written.

GRANTOR:

Signed, sealed and delivered in the presence of:

NEW NATUREWALK, LLC, a Florida
limited liability company

By:

Lerner Real Estate Advisors, Inc., a Florida corporation, as its sole member

Print:	

Address:	

By:	 Print:	 Its:	

Print:	

Address:	

STATE OF FLORIDA

}
}SS
}

COUNTY OF HILLSBOROUGH

The foregoing Quit Claim Deed was acknowledged before me by means of [ ] physical presence or [ ] online notarization this      day of April, 2026, by 	 as
	 of Lerner Real Estate Advisors, Inc., a Florida corporation, as sole member of NEW NATUREWALK, LLC, a Florida limited liability company, on behalf of the company.

(Print Name 	) NOTARY PUBLIC
State of 	 Commission #
My Commission Expires:
	 Personally Known or 	 Produced I.D. [check one of the above]
Type of Identification Produced 	

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EXHIBIT A

Tract L, PLAT OF NATUREWALK AT SEAGROVE REPLAT, as recorded in Plat Book 18, Page 8 through 8Q, inclusive, Public Records of Walton County, Florida.

A-1

Tab 5

PBA Towing LLC NatureWalk Tow Activity Report
05/01/2026 – 06/03/2026

Tow Event #1

Date / Time

05/08/2026 04:40 AM

Vehicle

2020 Revo LSV

Violation

Commercial Vehicle in Community Space

Location

480 Flatwoods Forest Loop, Santa Rosa Beach, FL 32459, USA

Tow Event #2

Date / Time

05/10/2026 12:34 AM

Vehicle

2026 Tesla Model Y

Violation

Street Parking

Location

291 Prairie Pass, Santa Rosa Beach, FL, 32459

Tow Event #3

Date / Time

05/16/2026 02:15 AM

Vehicle

2022 GMC Savana

Violation

Landscape Parking

Location

818 Sandgrass Blvd, Santa Rosa Beach, FL, 32459

Tow Event #4

Date / Time

05/18/2026 02:07 AM

Vehicle

2016 Lincoln MKX

Violation

Landscape Parking

Location

1157 Sandgrass Blvd, Santa Rosa Beach, FL, 32459

Tow Event #5

Date / Time

05/22/2026 05:18 AM

Vehicle

2025 Club car LSV

Violation

Commercial Vehicle in Community Space

Location

418 Flatwoods Forest Loop, Santa Rosa Beach, FL, 32459

Tow Event #6

Date / Time

05/23/2026 02:09 AM

Vehicle

2025 Jeep Wagoneer L

Violation

Street Parking

Location

40 Cinnamon Fern Ln, Santa Rosa Beach, FL, 32459

Tow Event #7

Date / Time

05/24/2026 02:32 AM

Vehicle

2016 Chevrolet Tahoe

Violation

Landscape Parking

Location

88 Beargrass Way, Santa Rosa Beach, FL, 32459

Tow Event #8

Date / Time

05/25/2026 02:58 AM

Vehicle

2026 Volkswagen Tiguan SE

Violation

Street Parking

Location

Tow Event #9

Date / Time

05/28/2026 03:01 AM

Vehicle

2025 Pulse Active EV LSV

Violation

Illegal Parking

Location

25 Sage Cir, Santa Rosa Beach, FL, 32459

Tow Event #10

Date / Time

05/29/2026 12:23 AM

Vehicle

2019 Volkswagen Passat

Violation

Street Parking

Location

282 Prairie Pass, Santa Rosa Beach, FL, 32459

Tow Event #11

Date / Time

05/31/2026 12:54 AM

Vehicle

2023 BMW M3

Violation

Street Parking

Location

25 Beargrass Way, Santa Rosa Beach, FL, 32459

Tow Event #12

Date / Time

06/02/2026 02:42 AM

Vehicle

2026 Chevrolet Equinox

Violation

Landscape Parking

Location

2–50 Salamander Cir, Santa Rosa Beach, FL, 32459

Tow Event #13

Date / Time

06/02/2026 04:02 AM

Vehicle

2016 Land Rover Range Rover Sport

Violation

Landscape Parking

Location

792 Sandgrass Blvd, Santa Rosa Beach, FL, 32459

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SETTLEMENT AGREEMENT

This SETTLEMENT AGREEMENT (this "Agreement") is made and entered into effective as of the 6th day of May, 2026 (the "Effective Date"), by and between TITAN ACQUISITIONS, LLC, a Florida limited liability company, and CH CAPITAL, INC., a Florida

corporation (collectively, "Titan"); DISTRICT, a local unit of special existing under the provisions of the

NATUREWALK	COMMUNITY	DEVELOPMENT
purpose government (the "District") duly organized and Uniform Community Development District Act of 1980,

Chapter 190, Florida Statutes, as amended (the "Act"); and U.S. BANK TRUST COMPANY,

NATIONAL ASSOCIATION, as successor in interest to U.S. Bank National Association, a national banking association, as Trustee (the "Trustee"). In this Agreement, Titan, the District and the Trustee are hereinafter sometimes referred to separately as "Party" and collectively as "Parties."

RECITALS

A.

The District is a local unit of special purpose government duly organized and

existing under the provisions of the Act, by Ordinance No. 05-23 enacted by the Board of County Commissioners of Walton County, Florida on June 28, 2005, and is validly existing under the Constitution and laws of the State of Florida.

B.

Pursuant to the authority of the Act, the District issued its (i) Capital Improvement

Revenue Bonds, Series 2007A (the "2007A Bonds") and (ii) Capital Improvement Revenue Bonds, Series 2007B (the "2007B Bonds" and together with the 2007A Bonds, the "District Bonds") for purposes of financing various infrastructure improvements within the District which provide benefits to the lands within the District.

C.

The District Bonds were issued pursuant to the Act and the Master Trust Indenture,

dated as of March 1, 2007 (the "Master Indenture"), by and between the District and the Trustee, as supplemented by that certain First Supplemental Trust Indenture, dated as of March 1, 2007.

D.

Pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District

levied non-ad valorem special assessments (the "2007 Debt Assessments") securing the District Bonds on those developable portions of the benefitted lands within the District.

E.

Pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District also

levied non-ad valorem special assessments (the "O&M Assessments") to pay the operating and maintenance expenses of the District.

F.

Titan acquired the following parcel by virtue of a Trustee's Deed recorded in

Official Records Book 3386, Page 1671 of the public records of Walton County, Florida following

issuance of that certain Tax Deed (the "Tax Deed") dated August 26, 2025 and recorded in Official Records Book 3369, Page 432 of the public records of Walton County, Florida:

Parcel ID No. 11-3S-19-25010-000-00K1 (1.57 acres, also referred to as "Parcel L").

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G.

Until approximately July 2020, Parcel L was owned by New Naturewalk, LLC, a

Florida limited liability company (the "SPE"), which SPE held title to Parcel L as an accommodation to the Trustee.

H.

There exists certain delinquencies in 2007 Debt Assessments against Parcel L

securing repayment of a portion of the 2007A Bonds (the "2007A Debt Assessments") and the 2007B Bonds (the "2007B Debt Assessments" and together with the 2007A Debt Assessments, the "Delinquent Debt Assessments").

I.
according
Statutes.

The O&M Assessments are collected annually by the Walton County Tax Collector to the Uniform Method (the "Uniform Method") afforded by Chapter 197, Florida

J.

Titan desires to enter into this Agreement to pay the amounts described herein to

cure the Delinquent Debt Assessments against Parcel L.

K.

The Trustee has received direction from the Majority Owners (as defined herein)

to enter into this Agreement on their behalf.

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

1.

INCORPORATION OF RECITALS.  The recitals stated above are true and

correct and are incorporated by reference herein as a material part of this Agreement.

2.

TITAN AND DISTRICT OBLIGATIONS. In order to induce the District and

Trustee to execute, deliver and perform under this Agreement, Titan covenants and agrees to:



pay a portion of the Delinquent Debt Assessments with respect to Parcel L and the District Bonds in an amount equal to $325,000.00 within fifteen
(15) days of the Effective Date (the "Settlement Amount"); and

(B)

enter into an Agreement Regarding Payment of Additional Consideration (the "Additional Consideration Agreement"), the form of which is attached hereto as Exhibit A.

The District agrees to enter into the Additional Consideration Agreement with respect to Parcel L providing for the payment of additional consideration ("Additional Consideration") by Titan, of $50,000.00 per unit in excess of six (6) units platted on Parcel L, all as described in the Exhibit A attached hereto.

Upon payment of the Settlement Amount the District and Trustee warrant and represent Titan will be current in all amounts owed to the District with respect to Parcel L with the exception of any annual O&M Assessments that are currently due and payable. For avoidance of doubt, the obligation to pay the Settlement Payment and any Additional Consideration is a joint and several responsibility of Titan Acquisitions, LLC, and CH Capital, Inc.

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3.

DISTRICT OBLIGATIONS. In order to induce Titan and the Trustee to execute,

deliver and perform under this Agreement, the District covenants and agrees that upon receipt of the Settlement Amount, as described herein, the District shall:

(A)

waive all penalties imposed on the Delinquent Debt Assessments with respect to Parcel L;

(B)

waive all past due accrued and unpaid interest that is not otherwise paid as provided by this Agreement on the Delinquent Debt Assessments with respect to Parcel L;

(C)

the District shall continue to annually levy and collect O&M Assessments against Parcel L based on its existing assessment methodology and annual budget. O&M Assessments will be levied and collected on an annual basis against individual units following each unit's platting in accordance with the

District's adopted assessment methodology and annual budget.

In all

events, upon final platting of Parcel L, O&M Assessments shall be levied and collected on an annual basis against the individual platted units within Parcel L on a per-unit basis. The forgoing is intended to make clear that once the entirety of Parcel L is platted, O&M Assessments will be based on the actual number of units platted, whether more than, less than, or equal to

the six (6) units currently anticipated. Nothing herein shall be construed in any way to limit the District's budgeting authority or its authority to change, amend, or revise its assessment methodology relative to the O&M Assessments.

(D)

the District shall upon recordation of the final plat for Parcel L and receipt of any Additional Consideration, if required, cancel the remaining outstanding 2007 Debt Assessments levied on Parcel L. The District shall further record in its Improvement Lien Book a reduction of the District's 2007 Debt Assessments in connection with Parcel L in accordance with the cancellation of the outstanding Delinquent Debt Assessment and any future 2007 Debt Assessments associated with Parcel L.

4.

TRUSTEE OBLIGATION.	In order to induce Titan to execute, deliver and

perform under this Agreement, Trustee shall cause the SPE to execute and deliver to Titan contemporaneously upon Titan's execution and delivery of this Agreement and the Settlement

Agreement a quitclaim deed for Parcel L (the "SPE Quit Claim Deed") in the form attached hereto as Exhibit B. The Trustee shall also take such actions as necessary to reflect that the District Bonds secured by Debt Assessment levied on Parcel L have been paid, canceled, or defeased as appropriate upon the District's receipt of the Settlement Amount, the Additional Consideration (if required), and the District's cancellation and reduction of the 2007 Debt Assessments as contemplated in Section 3 herein.

5.

AGREEMENT REGARDING PARCEL L COLLECTIONS THEREON.

The Parties agree that so long as Titan is current on its obligations under Section 2 of this

Agreement, including the payment of O&M Assessments, the District will not take action to

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foreclose on Parcel L. The Trustee, on behalf of the Majority Owners of the District Bonds consents and agrees to the foregoing and agrees that it shall not and cannot direct the District to take any action inconsistent with the foregoing.

6.

EVENT OF DEFAULT. The occurrence of any of the following, without the prior

written consent of the Trustee, shall constitute an "Event of Default" under this Agreement.

(A)

If any of the representations or warranties made hereunder by or on behalf of Titan (including the Recitals hereto) shall not have been true, accurate or complete in any material respect when made.

(B)

Titan shall assert in writing that this Agreement is not enforceable.

(C)

Titan (i) petitions for relief, or has a petition for relief filed against it, under the United States Bankruptcy Code, (ii) petitions for relief, or has a petition for relief filed against it, pertaining to any reorganization, composition, readjustment, liquidation of assets, or similar relief under any present or future law or regulation, or (iii) seeks, or fails to prevent, the appointment of any trustee, receiver or liquidator of Titan or of substantially all of the assets of Titan, or (iv) makes a general assignment for the benefit of creditors, or (v) is unable, or admits in writing its inability, to pay its debts generally as they become due (any, some or all of (i) through (v).

(D)

Titan shall fail to pay the Settlement Amount or comply with the payment obligations in Section 2.

Upon the occurrence of an Event of Default, the Trustee may terminate this Agreement and/or proceed with any and all rights and remedies under applicable law under this Agreement or otherwise available to the Trustee, subject to the Cure Period (as defined herein). Upon the occurrence of an Event of Default in (A), (B) or (D) in this Section 6, Titan shall send prompt written notice to the Trustee which shall serve as written notice from the Trustee commencing the Cure Period. Upon sending written notice, Titan will have 30 calendar days to cure such Event of Default in (A), (B) or (D) in this Section 6 (the "Cure Period") described herein. Titan has no right to notice from the Trustee or a cure period with regard to (C) in this Section, but shall promptly send written notice to the Trustee should any of the events in (C) occur.

7.

DEEMED AMENDMENT OF INDENTURE; CONSENT. To the extent that

the provisions of this Agreement conflict with any provision of the Master Indenture, the Master Indenture shall be deemed to be amended to conform to the conflicting provision of this Agreement and any provisions required for such amendments are waived. Consent to such amendment shall be evidenced in the written direction to the Trustee by the Beneficial Owners of no less than 51% of the principal amount of the outstanding District Bonds (the "Majority Owners") to execute this Agreement.

8.

AGREEMENT. This instrument shall constitute the final and complete expression

of this Agreement among the Parties relating to the subject matter of this Agreement.

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9.

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 all of the parties hereto and subject to the written consent of the Majority Owners.

10.

AUTHORIZATION. 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 instrument.

11.

THIRD PARTY BENEFICIARY.  The Parties hereto agree and acknowledge

that the Trustee is executing this Agreement with the consent of, and at the direction of, the

Majority Owners of the District Bonds and that the holders of the District Bonds, although not a signatory hereto, are nonetheless third-party beneficiaries of this Agreement. The Parties further agree and acknowledge that the covenants, settlements, representations and warranties made herein by the Parties are also for the benefit of Titan's successors in title to Parcel L.

12.

CONTROLLING LAW AND VENUE.	This Agreement and the provisions

contained herein shall be construed, interpreted and controlled according to the laws of the State

of Florida. Each Party consents that the venue for any litigation arising out of or related to this Agreement shall be in Walton County, Florida.

13.

EFFECTIVE DATE AND TERM. This Agreement shall be effective as of the

Effective Date.  If Titan fails to timely pay the Settlement Amount, then this Agreement shall

terminate in its entirety. Upon any such termination, any amounts that are due and owing as to Parcel L, including, but not limited to Debt Assessments that have accrued, shall immediately become due and payable to the District. This Agreement shall terminate subject to Section 22 herein, following: payment in full of (i) the Settlement Amount and (ii) Additional Consideration, if required, following final platting of Parcel L.

14.

TITAN ACQUISITIONS, LLC'S REPRESENTATIONS, WARRANTIES

AND COVENANTS. Titan Acquisitions, LLC hereby represents and warrants to the District and the Trustee that:

(A)

Titan Acquisitions, LLC is a limited liability company, duly organized and validly existing in the State of Florida;

(B)

Titan Acquisitions, LLC has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations hereunder;

(C)

The person executing this Agreement on behalf of Titan Acquisitions, LLC represents that he or she is duly authorized to execute this Agreement and to bind Titan Acquisitions, LLC;

(D)

Neither the execution and delivery of this Agreement nor the performance hereunder by Titan Acquisitions, LLC will result in any breach of, or constitute a default under or conflict with, any agreement, covenant or obligation binding upon Titan Acquisitions, LLC; and

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(E)

This Agreement has been duly authorized and executed by Titan Acquisitions, LLC in accordance with the articles of organization, operating agreement and other applicable organizational documents of Titan Acquisitions, LLC.

15.

CH

CAPITAL,	INC.'S	REPRESENTATIONS,	WARRANTIES	AND

COVENANTS. CH Capital, Inc. hereby represents and warrants to the District and the Trustee that:

(A)

CH Capital, Inc. is a for profit corporation, duly organized and validly existing in the State of Florida;

(B)

CH Capital, Inc. has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations hereunder;

(C)

The person executing this Agreement on behalf of CH Capital, Inc. represents that he or she is duly authorized to execute this Agreement and to bind CH Capital, Inc.;

(D)

Neither the execution and delivery of this Agreement nor the performance hereunder by CH Capital, Inc. will result in any breach of, or constitute a default under or conflict with, any agreement, covenant or obligation binding upon CH Capital, Inc.; and

(E)

This Agreement has been duly authorized and executed by CH Capital, Inc. in accordance with the articles of organization, operating agreement and other applicable organizational documents of CH Capital, Inc.

16.

REPRESENTATIONS AND WARRANTIES OF THE DISTRICT.

The

District hereby represents and warrants to Titan and the Trustee that:

(A)

The District is a unit of special purpose government duly organized and validly existing in good standing under Chapter 190, Florida Statutes;

(B)

The District has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations under this Agreement;

(C)

This Agreement has been duly authorized and executed by the District in accordance with all applicable law and authority documents applicable to the District;

(D)

The person executing this Agreement on behalf of the District represents that he or she is duly authorized to execute this Agreement and to bind the District; and

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(E)

Neither the execution and delivery nor the performance of this Agreement by the District conflicts with, is a breach of, or constitutes a default under, any agreement, covenant or obligation binding upon the District.

17.

REPRESENTATIONS AND WARRANTIES OF THE TRUSTEE.

The

Trustee hereby represents and warrants to Titan and the District that:

(A)

The Trustee is executing this Agreement solely at the direction and consent of the Majority Owners.

(B)

The Trustee is a national banking association duly organized and validly existing in good standing under the law of the United States;

(C)

The Trustee has the requisite right, legal capacity, power and authority to enter into this Agreement and to perform its obligations under this Agreement;

(D)

This Agreement has been duly authorized, executed and delivered by the Trustee in accordance with all applicable organizational and authority documents of Trustee and any agreements binding upon the Trustee;

(E)

The person executing this Agreement on behalf of the Trustee represents that he or she is duly authorized to execute this Agreement and to bind the Trustee; and

(F)

Neither the execution and delivery nor the performance of this Agreement by the Trustee conflicts with, is a breach of, or constitutes a default under, any agreement, covenant or obligation binding upon the Trustee.

18.

NOTICES. Except as may be expressly stated to the contrary in this Agreement,

notices, documents, demands, or certificates given by any Party in connection with this Agreement

or the performance by either Party under this Agreement shall be in writing and shall be delivered or sent by one of the following methods: (a) in person (by hand delivery or professional messenger service) to the addressee Party, (b) registered or certified mail, with postage prepaid, return receipt requested, (c) Express Mail of the U.S. Postal Service or Federal Express (a/k/a FedEx) or any other courier service guaranteeing next business day delivery, charges prepaid, or (d) by email transmission. Notices shall be sent or delivered to the following addresses:

If to the District:

NatureWalk Community Development District Attention: District Manager/Stephanie DeLuna Rizzetta & Company, Inc.
120 Richard Jackson Blvd., Suite 220 Panama City Beach, FL 32407 Email: Sdeluna@rizzetta.com

With a copy to:

District Counsel/Joseph Brown Kutak Rock LLP
107 W College Avenue

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Tallahassee, FL 32301
Telephone: 850-692-7300
Email: joseph.brown@kutakrock.com

If to Titan:

CH Capital, Inc.
Attn: Chris B. Hemmings, President 1510 S. Clark Avenue
Tampa, FL 33629
Email: anchortitletampa@gmail.com

With a copy to:

David W. Adams
Bennet Jacobs & Adams, P.A.
P.O. Box 3300
Tampa, FL 33601-3300
Telephone: 813-452-2882 Email: dadams@bja-law.com

If to the Trustee:

U.S. Bank Trust Company, National Association Account Manager/Vice President
Corporate Trust Services Two James Center
1021 East Cary Street, 18th Floor Richmond, VA 23219
Attention: Christopher H. Gehman Email: christopher.gehman@usbank.com

With a copy to:

Greenberg Traurig, P.A.
450 South Orange Avenue, Suite 650
Orlando, FL 32801
Attention: Warren S. Bloom, Esq. Email: bloomw@gtlaw.com

Any such notice, document, demand, or certificate sent by registered or certified mail, return receipt requested, shall be deemed to have been duly given and received upon the earlier of actual receipt or seventy-two (72) hours after the same is so addressed and mailed with postage prepaid. Notices delivered by Express Mail of the U.S. Postal Service or Federal Express (a/k/a FedEx) or other courier service guaranteeing next business day delivery shall be deemed to have been given twenty-four (24) hours after delivery of the same to the U.S. Postal Service or private courier, with charges prepaid and instructions for next business day delivery. If any notice is transmitted by email, the same shall be deemed served or delivered upon transmission thereof, assuming no error receipt has been received within twenty-four (24) hours after transmission thereof. Any notice, document, demand, or certificate sent by any other method shall be effective only upon actual receipt thereof or the addressee's refusal to accept delivery, whichever occurs first. Any Party may change its address for purposes of this Section 18 by giving notice to the other Party as provided herein.

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19.

TIME OF THE ESSENCE. Time shall be of the essence as to all dates, deadlines

and times of performance under this Agreement. Notwithstanding the foregoing, in the event any date or any deadline for the performance of an action or the giving of any notice falls on any day

that is not a Business Day, or any period provided for in this Agreement shall expire on any day that is not a Business Day, then the date for the performance of such action or giving of such notice, or the expiration date of such period, as applicable, shall be automatically extended to midnight of the next following Business Day. For the purposes of this Agreement, the term "Business Day" shall mean and refer to any day that is not a Saturday, Sunday, or national holiday.

20.

GOOD FAITH AND FAIR DEALING. The Parties agree to exercise good faith

and fair dealing in the performance of their respective contractual obligations hereunder.

21.

PUBLIC RECORDS. The Parties understand and agree that all documents of any

kind provided to the District or Titan in connection with this Agreement may be public records and treated as such in accordance with Florida law.

22.  SURVIVAL OF CERTAIN PROVISIONS. The provisions of Sections 10, 11, 23, 24 and 25 of this Agreement shall survive the expiration or earlier termination of this Agreement. Section 3 shall survive the expiration of this Agreement.

23.

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.

24.

LIMITATIONS ON LIABILITY. Nothing in this Agreement shall be deemed as

a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of

immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes, or other statute, and nothing in this Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

In addition, any provision of this Agreement to the contrary notwithstanding, the Trustee has executed this Agreement only in its capacity as the trustee under the Master Indenture and only for the purpose of evidencing the consent of the Majority Owners of the District Bonds to the transactions contemplated herein, and not individually or for the purpose of being bound in its individual or personal capacity. The Trustee shall not have any individual or personal liability under or related to this Agreement.

25.

FURTHER ASSURANCES. The Parties agree to execute, acknowledge, deliver

and record such certificates, amendments, instruments, and documents, and to take such other action, as may be reasonably necessary to carry out the intent and purposes of this Agreement.

26.

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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27.

ASSIGNMENT AND TRANSFERS. Titan may assign or sell its rights, duties or

obligations under this Agreement or any monies to be paid under this Agreement without the prior written consent of any other Party. Titan shall require as a condition of the sale to any third-party purchasing all or a portion of Parcel L for value, on which no plat has been recorded in the land

records of Walton County, that such third-party shall enter into an agreement on the same terms and conditions as the Additional Consideration Agreement attached hereto and incorporated herein as Exhibit A. The District shall also be required to enter into an agreement on the same terms and conditions as the Additional Consideration Agreement attached hereto and incorporated herein as Exhibit A with any third party purchasing all or a portion of Parcel L for value on which no plat has been recorded in the land records of Walton County.

28.

WAIVER OF JURY TRIAL. To the extent permitted by applicable law, each of

the Parties, knowingly, voluntarily and intentionally waives any right each may have to a trial by

jury in respect of any litigation based on, or arising out of, under or in connection with this Agreement, or any course of conduct, course of dealing, statements (whether verbal or written) or actions of any Party with respect hereto.

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ATTEST:

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

By:		 Jonette Coram, Chair, Board of Supervisors
5/6/2026
Date:

Secretary/Assistant Secretary

S-2

U.S. BANK TRUST COMPANY, NATIONAL
ASSOCIATION, as Trustee

By:		 Christopher H. Gehman, Vice President
Date: April 7, 2026

S-3

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EXHIBIT A

FORM OF ADDITIONAL CONSIDERATION AGREEMENT

[ATTACHED]

A-1

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This instrument was prepared by and Upon recording should be returned to:

(This space reserved for Clerk)

Warren S. Bloom, Esq. Greenberg Traurig, P.A.
450 S. Orange Avenue, Suite 650
Orlando, FL 32801

Parcel Identification No. 11-3S-19-25010-000-00K1

AGREEMENT BETWEEN
NATUREWALK COMMUNITY DEVELOPMENT DISTRICT, AND TITAN ACQUISITIONS, LLC AND CH CAPITAL, INC. REGARDING
PAYMENT OF ADDITIONAL CONSIDERATION

This Agreement is made and entered into as of this 	 day of April 2026 between:

by and

Naturewalk Community Development District, a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, and located in Walton County, Florida, whose address is 3434 Colwell Avenue, Suite 200, Tampa, Florida 33614 ("District"); and

Titan Acquisitions, LLC, a Florida limited liability company, whose address is 840
S. Davis Boulevard, Tampa, Florida 33606, and its successors and assigns ("Titan Acquisitions"); and

CH Capital, Inc., a Florida corporation, whose address is 1510 S. Clark Avenue, Tampa, Florida 33629 and its successors and assigns (CH Capital, and together with Titan Acquisitions, "Titan").

RECITALS

WHEREAS, the District was created by Ordinance No. 05-23 enacted by the Board of County Commissioners of Walton County, Florida on June 28, 2005, and is duly organized and existing under the provisions of the Uniform Community Development District Act of 1980, Chapter 190, Florida Statutes (the "Act"); and

WHEREAS, the District, pursuant to Chapter 190, Florida Statutes, is authorized to levy such taxes, special assessments, fees and other charges as may be necessary in furtherance of the District's activities and services; and

WHEREAS, pursuant to the authority of the Act, the District issued its (i) Capital Improvement Revenue Bonds, Series 2007A (the "2007A Bonds") and (ii) Capital Improvement Revenue Bonds, Series 2007B (the "2007B Bonds" and together with the 2007A Bonds, the

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"District Bonds") pursuant to the Master Trust Indenture, dated as of March 1, 2007 (the "Master Indenture"), by and between the District and U.S. Bank Trust Company, National Association, as successor in interest to U.S. Bank National Association, a national banking association, as Trustee (the "Trustee"), as supplemented by that certain First Supplemental Trust Indenture, dated as of March 1, 2007 pursuant to which the District Bonds were issued for purposes of financing various infrastructure improvements within the District which provide benefits to the lands within the District; and

WHEREAS, pursuant to the Act and Chapter 170, Florida Statutes, as amended, the District levied non-ad valorem special assessments (the "Debt Assessments") securing the District Bonds on those developable portions of the benefitted lands within the District; and

WHEREAS, as of the date of this Agreement, Titan is currently the undivided owner of Parcel ID No. 11-3S-19-25010-000-00K1 (1.57 acres, also referred to as "Parcel L"); and

WHEREAS, Titan, the District and the Trustee have entered into the Settlement Agreement of even date hereto (the "Settlement Agreement") to address certain outstanding delinquencies in the payment of Debt Assessments securing repayment of the 2007A Bonds (the "2007A Debt Assessments") and the 2007B Bonds (the "2007B Debt Assessments" and together, with the 2007A Debt Assessments, the “2007 Debt Assessments”) and other amounts owed to the District; and

WHEREAS, upon platting of Parcel L and subsequent payment of Additional Consideration (as defined herein), if required, the 2007 Debt Assessments in connection with Parcel L will be cancelled; and

WHEREAS, pursuant to the terms of the Settlement Agreement, Titan has committed to the development of six (6) units on Parcel L, but the actual densities developed may be more or less than the densities assumed herein; and

WHEREAS, the District and Titan desire to create a mechanism by which Titan shall make certain payments to the District in order to satisfy, in whole or in part, the assessments allocated and the liens imposed with respect to Parcel L; and

WHEREAS, Titan and the District desire to enter into this Agreement to confirm Titan's intentions and obligations to make a payment of $50,000.00 per unit at the time of platting for each unit in excess of six (6) units ("Additional Consideration").

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 parties agree as follows:

1.

RECITALS. The recitals so stated are true and correct and by this reference are

incorporated into and form a material part of this Agreement.

2

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2.

ADDITIONAL CONSIDERATION.

A.

Payment of Additional Consideration. When the proposed final plat is prepared for

Parcel L constituting any proposed plat submitted to the District that the District reasonably determines would render Parcel L fully platted or any remaining un-platted portion of Parcel L undevelopable (the "Final Plat") and presented to the District for review and approval, if the total amount of units to be platted is more than six (6) units then Additional Consideration in the amount of $50,000.00 per unit for each unit in excess of six (6) units will be due and payable by Titan.

The parties agree that any Additional Consideration, if required, will be paid within fifteen (15) business days of recording the Final Plat.

If the Additional Consideration is not timely paid, the District, after thirty (30) days' notice to Titan that the Additional Consideration is due, may record a Notice of Lien over the lands contained within the Final Plat in the official records of Walton County, Florida ("Walton County"), until such time as the Additional Consideration has been paid, with such liens running with the land. The District will ensure collection of such amounts in a timely manner in order to meet its debt service obligations, and in all cases, Titan agrees that such payments shall be made in order to ensure the District's timely payment of the debt service obligations on the District Bonds. The District shall record the Agreement to Pay Additional Consideration in its Improvement Lien Book. Upon payment of the Settlement Amount and Additional Consideration, if required, the District shall cause the lien release for the 2007 Debt Assessments regarding Parcel L to be recorded in the official records of Walton County.

The foregoing is based on Titan's representation to the District that Titan intends to develop six (6) units on Parcel L. However, the District agrees that nothing herein prohibits more or less than six (6) units from being developed. For avoidance of doubt, the obligation to pay any Additional Consideration is a joint and several responsibility of Titan Acquisitions, LLC, and CH Capital, Inc.

3.

ENFORCEMENT.  This Agreement is intended to be an additional method of

enforcement of Titan 's obligation to abide by the application of the Additional Consideration, if

required, and to guarantee payment of the Additional Consideration due on Parcel L. A default by either party under this Agreement shall entitle any other party 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.

4.

RECOVERY OF COSTS AND FEES. In the event either party is required to

enforce this Agreement by court proceedings or otherwise, then each prevailing party, as

determined by the applicable court or other dispute resolution provider, shall be entitled to recover from the non-prevailing party all fees and costs incurred, including reasonable attorneys' fees and costs incurred prior to or during any litigation or other dispute resolution and including all fees and costs incurred in appellate proceedings.

3

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5.

NOTICE.  All notices, requests, consents and other communications hereunder

("Notices") shall be in writing and shall be delivered via overnight delivery service, telecopied or hand delivered to the parties, as follows:

If to District:

Naturewalk Community Development District Attention: District Manager/Stephanie DeLuna Rizzetta & Company, Inc.
120 Richard Jackson Blvd., Suite 220 Panama City Beach, FL 32407 Email: Sdeluna@rizzetta.com

With a copy to:

District Counsel / Joseph Brown Kutak Rock LLP
107 W College Avenue Tallahassee, FL 32301
Telephone: 850-692-7300
Email: joseph.brown@kutakrock.com

If to Titan:

CH Capital, Inc.
Attn: Chris B. Hemmings, President 1510 S. Clark Avenue
Tampa, FL 33629
Email: anchortitletampa@gmail.com

With a copy to:

David W. Adams
Bennet Jacobs & Adams, P.A.
P.O. Box 3300
Tampa, FL 33601-3300
Telephone: 813-452-2882 Email: dadams@bja-law.com

Except as otherwise provided herein, any Notice shall be deemed received only upon actual delivery at the address set forth herein. Notices hand delivered after 5:00 p.m. (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non- business day, the Notice period shall be extended to the next succeeding business day. Saturdays, Sundays and legal holidays recognized by the United States government shall not be regarded as business days. Counsel for the parties may deliver Notice on behalf of the parties.

Any party or other person to whom Notices are to be sent or copied may notify the other parties and addressees of any change in name or address to which Notices shall be sent by providing the same on five (5) days written notice to the parties and addressees set forth herein. Notwithstanding the foregoing, to the extent Florida law requires notice to enforce the collection of assessments placed on property by the District, then the provision of such notice shall be in lieu of any additional notice required by this Agreement.

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6.

ASSIGNMENT AND TRANSFERS. This Agreement shall run with the land.

Titan may assign or sell its rights, duties or obligations under this Agreement or any monies to be

paid under this Agreement without the prior written consent of any other party to the Settlement Agreement. Titan shall require as a condition of the sale to any third-party purchasing all or a portion of Parcel L for value, on which no plat has been recorded in the land records of Walton County, that such third-party shall enter into an agreement on the same terms and conditions as this Agreement. The District shall also be required to enter into an agreement on the same terms and conditions as this Agreement with any third-party purchasing all or a portion of Parcel L for value on which no plat has been recorded in the land records of Walton County.

7.

AMENDMENT. This Agreement shall constitute the entire agreement between

the parties and may be modified in writing only by the mutual agreement of all parties.

8.

TERMINATION. This Agreement shall continue in effect until it is rescinded in

writing by the mutual assent of each party. This Agreement shall automatically terminate upon payment in full of the District Bonds, or once all Additional Consideration, if required, has been paid.

9.

NEGOTIATION AT ARM'S LENGTH. This Agreement has been negotiated

fully between the parties as an arm's length transaction.	All 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, all parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against either party.

10.

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 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; notwithstanding the foregoing, the Trustee is made a third party beneficiary for the benefit of the bondholders to enforce the terms hereof in the event the District does not do so.

11.

LIMITATIONS ON GOVERNMENTAL LIABILITY.

Nothing in this

Agreement shall be deemed as a waiver of immunity or limits of liability of the District beyond any statutory limited waiver of immunity or limits of liability which may have been adopted by the Florida Legislature in Section 768.28, Florida Statutes or other statute, and nothing in this

Agreement shall inure to the benefit of any third party for the purpose of allowing any claim which would otherwise be barred under the Doctrine of Sovereign Immunity or by operation of law.

12.

APPLICABLE LAW AND VENUE. This Agreement shall be governed by the

laws of the State of Florida. Each party consents that the venue for any litigation arising out of or related to this Agreement shall be in Walton County, Florida.

5

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13.

EXECUTION IN COUNTERPARTS. This instrument may be executed in any

number of counterparts, each of which, when executed and delivered, shall constitute an original, and such counterparts together shall constitute 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.

14.

EFFECTIVE DATE. This Agreement shall become effective after execution by

the parties hereto on the date reflected above.

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IN WITNESS WHEREOF, the parties execute this Agreement Regarding Payment of Additional Consideration the day and year first written above.

WITNESSES:

TITAN ACQUISITIONS, LLC, a Florida limited liability company

By:	

As its 	

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF HILLSBOROUGH

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this      day of 	 2026, by 	 as
	 of Titan Acquisitions, LLC, a Florida limited liability company, on its behalf. He/She ☐ is personally known to me or ☐ has produced 	 as identification.

NOTARY PUBLIC

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WITNESSES:

CH CAPITAL, INC., a Florida corporation

By:		 Chris B. Hemmings
As its President

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF HILLSBOROUGH

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this     day of 		 2026, by Chris B. Hemmings as President of CH Holdings, Inc., a Florida corporation, on its behalf. He ☐ is personally known to me or ☐ has produced 	 as identification.

NOTARY PUBLIC

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WITNESSES:

NATUREWALK COMMUNITY DEVELOPMENT DISTRICT

By:		 Jonette Coram
Chairperson, Board of Supervisors

(Print Name of Witness)

Address:	

WITNESSES:

(Print Name of Witness)

Address:	

STATE OF FLORIDA

COUNTY OF WALTON

The foregoing instrument was acknowledged before me by means of ☐ physical presence or ☐ online notarization, this     day of 	 2026, by Jonette Coram as Chair of the Board of Supervisors of the Naturewalk Community Development District. She ☐ is personally known to me or ☐ has produced 		 as identification.

NOTARY PUBLIC

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EXHIBIT B

FORM OF SPE QUITCLAIM DEED

[ATTACHED]

B-1

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PREPARED BY AND RETURN TO:
Anchor Title and Associates 1510 S. Clark Avenue Tampa, Florida 33629
Attn: Chris Hemmings

Parcel Identification No. 11-3S-19-25010-000-00K1

QUIT CLAIM DEED

THIS QUIT CLAIM DEED made this    day of April, 2026, by and between NEW NATUREWALK, LLC, a Florida limited liability company, whose mailing address is 5701 Yeats Manor Drive, Unit 401, Tampa, Florida 33616, hereinafter called the grantor, to TITAN ACQUISITIONS, LLC, a Florida limited liability company, and CH CAPITAL, INC., a Florida corporation, whose address is 840 S. Davis Boulevard, Tampa, Florida 33606, hereinafter called the grantee:

(Wherever used herein the term "grantee" includes the party named as such above, and its successors and assigns)

W I T N E S S E T H:

That the grantor, for and in consideration of the sum of $10.00 and other valuable considerations, receipt whereof is hereby acknowledged, hereby remises, releases, and quitclaims unto the grantee, all right, title and interest of grantor, if any, in and to that certain land situate in Walton County, Florida, viz:

See attached EXHIBIT A

TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining, if any.

Grantor makes no warranties or representations of any type with respect to the property which is the subject of this Quit Claim Deed.

This deed is given for the purpose of clearing any cloud on title on the property described herein arising by virtue of that certain Tax Deed dated August 26, 2025, recorded in Official Records Book 3369, Page 432 of the Public Records of Walton County, Florida.

TO HAVE AND TO HOLD, the same in fee simple forever.

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IN WITNESS WHEREOF, Grantor has caused these presents to be executed on this, the day and year first above written.

GRANTOR:

Signed, sealed and delivered in the presence of:

NEW NATUREWALK, LLC, a Florida
limited liability company

By:

Lerner Real Estate Advisors, Inc., a Florida corporation, as its sole member

Print:	

Address:	

By:	 Print:	 Its:	

Print:	

Address:	

STATE OF FLORIDA

}
}SS
}

COUNTY OF HILLSBOROUGH

The foregoing Quit Claim Deed was acknowledged before me by means of [ ] physical presence or [ ] online notarization this      day of April, 2026, by 	 as
	 of Lerner Real Estate Advisors, Inc., a Florida corporation, as sole member of NEW NATUREWALK, LLC, a Florida limited liability company, on behalf of the company.

(Print Name 	) NOTARY PUBLIC
State of 	 Commission #
My Commission Expires:
	 Personally Known or 	 Produced I.D. [check one of the above]
Type of Identification Produced 	

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EXHIBIT A

Tract L, PLAT OF NATUREWALK AT SEAGROVE REPLAT, as recorded in Plat Book 18, Page 8 through 8Q, inclusive, Public Records of Walton County, Florida.

A-1

Tab 7

NatureWalk Homeowners Association, Inc.

December 18, 2025

Mail To
Glenn A Duffard Jr & Karen Rajnik Duffard 4637 Vinings Canyon Bend
Atlanta, GA 30339

Architectural Approval Notice: 351 Flatwoods Forest Loop

Dear Glenn A Duffard Jr:

The architectural change request for the following: Fence has been approved by the Architectural Committee.

This approval is based on the aesthetics of your proposed change and should not be taken as any certification to the construction worthiness or structural integrity of the change you requested. You must follow all local building codes and setback requirements when making this change. A building permit or utility locates may also be required. Please check with all County ordinances prior to commencement.

This approval does not grant you access use to any Association, CDD or County property for purposes of making this modification. If access is required for your modification, you must obtain approval from the landowner in advance.

The Association board reserves the right to make a final inspection of the change to make sure it matches the request you submitted for approval. Please follow the plan you submitted or submit an additional request form if the original plan is modified.

Sincerely,

Rizzetta & Company, Inc.
As Agent for the NatureWalk Homeowners Association, Inc.

Local Office:
120 Richard Jackson Blvd Suite 220 Panama City Beach, FL 32407
850-334-9055

Mailing Address:
3434 Colwell Avenue Suite 200
Tampa, FL 33614

Email: hoageneral@rizzetta.com

Tab 8

Tab 9

Prepared for: Nature Walk CDD

Location:

Prepared by: Eric Parks

Irrigation Audit Report

06/02/2026

(GE) - Freeport | 15167 Highway 331 BusinessFalseSuite B., Freeport, FL 32439 | 850-267-0010

Page 1 of 2

Nature Walk CDD
Audited By: Eric Parks on 06/02/26

Clock Location: Controller #1

Irrigation Time Audit

0








Zone 2

Audit current date and time Audit Programs set on Timer Audit Start Times
Audit the days the system is running
Open the time face and audit connection and zone count System operational unless otherwise specified
Mainline leak observed

0



Zone 5

broken nozzle
(2) nozzles

0



Zone 7

broken nozzle
(3) nozzles

0




poly break
(1) poly leak

Page 2 of 2

Category	Score

Site Audit

Prepared for: Nature Walk CDD

Location:

Prepared by: Eric Parks

Irrigation Audit Report

06/01/2026

(GE) - Freeport | 15167 Highway 331 BusinessFalseSuite B., Freeport, FL 32439 | 850-267-0010

Page 1 of 2

Nature Walk CDD
Audited By: Eric Parks on 06/01/26

Clock Location: Controller #2

Irrigation Time Audit

0









Audit current date and time Audit Programs set on Timer Audit Start Times
Audit the days the system is running
Open the time face and audit connection and zone count System operational unless otherwise specified
Mainline leak at intersection of Sandgrass Blvd & Iris Trace controller is off to prevent damage from leak
0

Zone 1



Zone 2

broken nozzle
(2) mp nozzles

0




Zone 3

broken nozzle broken 6" head
(2) mp nozzles/(1) 6” spray

0



Zone 5

poly break
(2) poly leaks

0




broken nozzle
(2) nozzles

Zone 10

0



Need to swap micro sprays for (3) 12” sprays

Zone 12

0




poly break
(2) poly leaks

Zone 13

0




poly break
(1) poly leaks

Page 2 of 2

Category	Score

Site Audit

Prepared for: Nature Walk CDD

Location:

Prepared by: Eric Parks

Irrigation Audit Report

06/01/2026

(GE) - Freeport | 15167 Highway 331 BusinessFalseSuite B., Freeport, FL 32439 | 850-267-0010

Page 1 of 2

	Site Audit	

Nature Walk CDD
Audited By: Eric Parks on 06/01/26

Clock Location: Controller #3

Irrigation Time Audit

0








Audit current date and time Audit Programs set on Timer Audit Start Times
Audit the days the system is running
Open the time face and audit connection and zone count
Controller is in short finding mode/the controller is nonfunctional at this time

Page 2 of 2

Category	Score

Prepared for: Nature Walk CDD

Location:

Prepared by: Eric Parks

Irrigation Audit Report

06/01/2026

(GE) - Freeport | 15167 Highway 331 BusinessFalseSuite B., Freeport, FL 32439 | 850-267-0010

Page 1 of 2

Nature Walk CDD
Audited By: Eric Parks on 06/01/26

Clock Location: Controller #4

Irrigation Time Audit

0







Zone 4

Audit current date and time Audit Programs set on Timer Audit Start Times
Audit the days the system is running
Open the time face and audit connection and zone count System operational unless otherwise specified

0



Zone 7

poly break
(1) poly leak adjacent to unit # 197

0




poly break
(1) poly leak adjacent to unit #35

Page 2 of 2

Category	Score

Site Audit