Page 341 - Watauga FY22-23 Budget

The following notice is required by section 372. 013( e) of the Texas Local Government Code. NO
ASSESSMENT IS BEING IMPOSED ON THE PROPERTY AS A RESULT OF THE 2022- 2023
ANNUAL SERVICE PLAN UPDATE.

NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT
TO CITY OF WATAUGA, TEXAS CONCERNING THE FOLLOWING PROPERTY:
PARK VISTA ADDITION, PHASES I, II, III, AND IV

As the purchaser of the real property described above, you are obligated to pay assessments to City of
Watauga, Texas, for the costs of a portion of a public improvement or services project ( the " Authorized
Improvements") undertaken for the benefit of the property within the Park Vista Public Improvement
District ( the" District") created under Subchapter A, Chapter 372, Local Government Code.

AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED
IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS
NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT
WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID,
COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS.

The exact amount of the assessment may be obtained from the City of Watauga, Texas. The exact amount
of each annual installment will be approved each year by the City Council of the City of Watauga, Texas
in the annual service plan update for the district . More information about the assessments, including the
amounts and due dates, may be obtained from the City of Watauga, Texas .

Your failure to pay any assessment or any annual installment may result in penalties and interest being
added to what you owe or in a lien on and the foreclosure of your property.

Section 5. 014 of the Texas Property Code requires " A person who proposes to sell or otherwise convey
real property that is located in a public improvement district established under Subchapter A, Chapter 372,
Local Government Code . . . shall first give to the purchaser of the property the written notice prescribed
by Subsection ( a- 1). . ." Subsection 5. 014( a- 1) of the Texas Property Code provides that the above
referenced notice shall be executed by the seller of property and must read as provided above.

PASSED AND ADOPTED by the City Council of the City of Watauga, Texas, by Ordinance No. 2022-
Iq approved on the 12th day of September 2022.
APPROVED:

K' ‘
72
iit(..- (
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F.
y
O ATgOQ" rthur L. Miner, Mayor
ATTEST: 1'-
eriiireosivir
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Linda ' roskey, City Secretary

VIII"
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