EX-10.5



 Exhibit 10.5 

LOAN MODIFICATION AGREEMENT AND 

AMENDMENT TO LOAN DOCUMENTS 

THIS LOAN MODIFICATION AGREEMENT AND AMENDMENT TO LOAN DOCUMENTS (this “Agreement”) is being entered into as of the
15th day of May, 2018, by and among CONSTRUCTION PARTNERS HOLDINGS, INC., a Delaware corporation, formerly known as Construction Partners, Inc. (“Holdings”); WIREGRASS CONSTRUCTION COMPANY, INC., an Alabama
corporation (“Wiregrass Construction”); FRED SMITH CONSTRUCTION, INC., a North Carolina corporation (“Fred Smith Construction”); FSC II, LLC, a North Carolina limited liability company
(“FSC”); C. W. ROBERTS CONTRACTING, INCORPORATED, a Florida corporation (“Roberts Contracting”); EVERETT DYKES GRASSING CO., INC., a Georgia corporation (“Everett Dykes” and together
with Holdings, Wiregrass Construction, Fred Smith Construction, FSC and Roberts Contracting, “Original Borrowers”); THE SCRUGGS COMPANY, a Georgia corporation (“Scruggs Company” and together with the Original
Borrowers, the “Borrowers”); CONSTRUCTION PARTNERS, INC., a Delaware corporation, formerly known as SunTx CPI Growth Company, Inc. (“Guarantor”); COMPASS BANK, a bank organized under the laws of the
State of Alabama, as agent for the Lenders and as a Lender and Issuing Bank (“Agent”); and SERVISFIRST BANK, as a Lender (“ServisFirst”). Each of Agent and ServisFirst shall be referred to herein as a
“Lender” and collectively, “Lenders”. 
 P R E A M B L E 

Original Borrowers, together with certain other entities that hereafter may become borrowers or guarantors under the Credit Agreement, have
entered into a Credit Agreement dated as of the 30th day of June, 2017 (as at any time amended, modified, supplemented or restated, including by that certain Loan Modification Agreement and Amendment to Loan Documents dated as of November 14,
2017 and by that certain Loan Modification Agreement and Amendment to Loan Documents dated as of December 31, 2017, the “Credit Agreement”), with Agent and Lenders, pursuant to which Agent and Lenders have agreed to extend to
Original Borrowers, a revolving line of credit in the maximum principal amount of $30,000,000, subject to the terms and conditions contained therein and as such revolving line may be increased from time to time (the “Line of
Credit”) and a term loan in the amount of $50,000,000, subject to the terms and conditions contained therein and such term loan may be increased from time to time (the “Term Loan” and together with the Line of Credit, the
“Loans”). The Loans are evidenced by, among other things, the Notes and the other Loan Documents as defined in the Credit Agreement. The Loans are guaranteed by the guaranty (the “Guaranty”) of the Guarantor as set
forth in the Credit Agreement. Capitalized terms used herein but not otherwise defined shall have the meaning given to such term in the Credit Agreement. 

Concurrent herewith, Holdings is purchasing all of the Equity Interests of the Scruggs Company, and as a result, Original Borrowers and the
Scruggs Company have requested, and the Agent and Lenders have agreed, subject to the terms of this Agreement, that Scruggs Company shall be added to the Loan Documents as a “Borrower” thereunder. 

Accordingly, the Borrowers, Guarantor, the Agent and Lenders have agreed that the Loan shall be modified, and that the Loan Documents shall be
amended as set forth below. 







 A G R E E M E N T 

NOW, THEREFORE, the parties, intending to be legally bound hereby, agree as follows, notwithstanding anything in the Loan Documents to
the contrary: 
 A. Commitment Fee. Borrowers shall pay to Agent a fee in the amount of $55,000.00 ($38,500.00 of which
shall be allocated to Agent and $16,500.00 of which shall be allocated to ServisFirst Bank), which shall be deemed earned as of the date of this Agreement, and shall be paid immediately upon execution of this Agreement. 

B. Additional Term Loan Advance. Borrowers have requested that Agent and Lenders increase the aggregate Term Loan
Commitment by an additional $22,000,000 in accordance with Section 2.10(b) of the Credit Agreement. As of the date hereof, Borrowers have repaid the Term Loan Commitment in amount equal to $7,500,000, and thus the outstanding principal balance
of the Term Loan Commitment is $42,500,000. Agent and Lenders have agreed to increase the Term Loan Commitment by $22,000,000 on the terms and conditions set forth herein and in the Credit Agreement, and accordingly Compass Bank’s Term Loan
Commitment amount shall be increased to $45,150,000, with $15,400,000 representing the additional Term Loan Commitment, and ServisFirst Bank’s Term Loan Commitment shall be increased to $19,350,000, with $6,600,000 representing the additional
Term Loan Commitment. On the date of this Agreement, each Lender severally agrees on the terms and conditions set forth herein and in the Credit Agreement to fund a Term Loan Advance to Borrower in the amount of such Lender’s additional Term
Loan Commitment. Such advance shall be on the same terms and conditions related to Term Loan Advances as set forth in the Credit Agreement, including without limitation, Section 2.01(b). 

C. Amendment of Credit Agreement. 

(i) The definition of “Borrowers” and “Borrower” shall be amended as follows: “Borrowers” shall include Holdings,
Wiregrass Construction, Fred Smith Construction, FSC, Roberts Contracting, Everett Dykes and Scruggs Company, and “Borrower” shall refer to each such Borrower individually. 

(ii) Section 1.01 shall be amended to include the following additional definitions: 

“CP Guarantor” means Construction Partners, Inc., a Delaware corporation. 

“Interest Accrual Period” means initially the period from the Closing Date up to but not including the first Interest Payment
Date, and thereafter, each period from an Interest Period Commencement Date up to but not including the next subsequent Interest Period Commencement Date. 

“LIBOR Reserve Percentage” means for any day, the percentage, as determined in good faith by Agent, which is in effect on such
day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) representing the maximum reserve requirement (including without limitation, supplemental, marginal and emergency reserve requirements, with respect to
Eurocurrency funding (currently referred to as “Eurocurrency liabilities”)) of a member bank in such system. 
 “Scruggs
Company” means The Scruggs Company, a Georgia corporation. 
 (iii) The definition of “Collateral Documents” shall be
amended to include that certain Security Agreement dated of even date herewith executed by Scruggs Company in favor of Agent, and that certain Stock Pledge Agreement dated of even date herewith executed by Holdings in favor of Agent. 

  
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 (iv) The definition of “Business Day”, “Consolidated EBITDA”,
“Consolidated Fixed Charges”, Consolidated Interest Expense”, “Consolidated Lease Expense”, “Consolidated Leverage Ratio”, “Consolidated Net Income”, “Consolidated Subsidiary”,
“Depreciation and Amortization”, “Interest Period”, “LIBOR”, “Revolver Sublimit” and “Term Loan Recourse Amount” set forth in Section 1.01 shall be deleted in their entirety and the following
shall be substituted in place thereof: 
 “Business Day” means a day other than a Saturday, Sunday or a day
on which Agent is closed for business; provided, that, for the purposes of determining LIBOR, the term “Business Day” shall also exclude any day on which commercial banks are not open for dealings in U.S. dollar deposits in the
London interbank market. 
 “Consolidated EBITDA” means and includes, for CP Guarantor and its Consolidated
Subsidiaries for any period, an amount equal to the sum of (a) Consolidated Net Income for such period plus (b): (i) Consolidated Interest Expense for such period; (ii) Consolidated Lease Expense for such period; and
(iii) Depreciation and Amortization for such period minus (c): (i) Taxes paid in cash for such period; and (ii) dividends and distributions paid out in such period, all determined on a consolidated basis in accordance with GAAP in
each case for such period. 
 “Consolidated Fixed Charges” means, for any period, the sum of
(a) Consolidated Interest Expense for such period (including all interest, whether accrued or paid, for such period on the Term Loan Advances and Revolver Advances owing or paid by Borrowers), (b) Consolidated Lease Expense for such period, and
(c) all scheduled payments of principal in respect of the Term Loan Advances of Borrowers pursuant to Section 2.06 for such period (provided that for purposes of calculating the Fixed Charge Coverage Ratio on a pro
forma basis if required by Section 6.04, the scheduled principal payment due on the Termination Date shall be deemed to be in an amount equal to $3,600,000 with respect to the Term Loan). 

“Consolidated Interest Expense” means, for any period, interest, whether expense or capitalized, in respect of
Debt of CP Guarantor or any of its Consolidated Subsidiaries during such period on a consolidated basis. 

“Consolidated Lease Expense” means, for any period, all lease expenses of CP Guarantor or any of its
Consolidated Subsidiaries outstanding during such period on a consolidated basis. 
 “Consolidated Leverage
Ratio” means, on any date, the ratio of (a) total funded Debt of CP Guarantor and its Consolidated Subsidiaries on such date to (b) Consolidated EBITDA for the period of four consecutive Fiscal Quarters ended on such date (or, if
such date is not the last day of a Fiscal Quarter, ended on the last day of the Fiscal Quarter most recently ended). 

“Consolidated Net Income” means, for any period, the net income of CP Guarantor and its Consolidated
Subsidiaries prior to the provision for Taxes as set forth or reflected on the most recent consolidated income statement of CP Guarantor and its Consolidated Subsidiaries prepared in accordance with GAAP. 

  
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 “Consolidated Subsidiary” means, on any date, any Subsidiary or
other entity the accounts of which, in accordance with GAAP, would be consolidated with those of CP Guarantor in its consolidated financial statements as of such date. 

“Depreciation and Amortization” means, for any period, an amount equal to the sum of all depreciation and
amortization expenses and other noncash charges of CP Guarantor and its Consolidated Subsidiaries for such period, as determined on a consolidated basis in accordance with GAAP. 

“Interest Period” means with respect to Euro-Dollar Borrowing, either a calendar month, two calendar months,
three calendar months, six calendar months, nine calendar months (if available to all Lenders), or twelve calendar months (if available to all Lenders) (commencing on the day after the end of the previous Interest Period and ending on the last
Business Day of the last calendar month of the Interest Period (each such date being an “Interest Period Commencement Date”), regardless of whether a Euro-Dollar Borrowing is outstanding on either date); provided that
(a) the initial Interest Period applicable to Euro-Dollar Borrowings shall mean the period commencing on the Closing Date and ending on the last Business Day of the succeeding calendar month, and (b) the last Interest Period applicable to
Euro-Dollar Borrowings under this Agreement shall end on the Termination Date. The Interest Period is for reference purposes only, and the interest rate applicable to any Euro-Dollar Borrowing may continue for a period that is longer or shorter than
the Interest Period. 
 “LIBOR” means for each Interest Accrual Period, a rate per annum obtained by
dividing (a) the London Interbank Offered Rate, as determined by ICE Benchmark Administration Limited (ICE) (or any successor or substitute therefor) for U.S. dollar deposits for such Interest Accrual Period as obtained by Agent from
Reuter’s, Bloomberg or another commercially available source as may be designated by Agent from time to time, two (2) Business Days before the first day of such Interest Accrual Period, by (b) a number equal to 1.00 minus the LIBOR
Reserve Percentage. Notwithstanding the foregoing, LIBOR shall not in any event be less than zero percent (0.00%). 

“Revolver Sublimit” means, with respect to each Borrower set forth below, the following amounts: 

 

					
	 Construction Partners:
	  	$	18,000,000.00	 
	 Wiregrass Construction:
	  	$	6,000,000.00	 
	 FSC:
	  	$	7,000,000.00	 
	 Fred Smith Construction:
	  	$	0.00	 
	 Roberts Contracting:
	  	$	3,000,000.00	 
	 Everett Dykes:
	  	$	3,000,000.00	 
	 Scruggs Company:
	  	$	5,000,000.00	 

 “Term Loan Recourse Amount” means, with respect to each Borrower set forth
below, the following amounts: 
  

					
	 Wiregrass Construction:
	  	$	18,000,000.00	 
	 FSC:
	  	$	24,000,000.00	 
	 Fred Smith Construction:
	  	$	24,000,000.00	 
	 Roberts Contracting:
	  	$	11,000,000.00	 
	 Everett Dykes:
	  	$	3,600,000.00	 
	 Scruggs Company:
	  	$	25,000,000.00	 


  
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 (v) The definition of Term Loan Note shall be amended to include any amendment, modification,
supplement or restatement of any Term Loan Note, including, without limitation, the Amendments to Term Loan Notes executed by Borrowers and Lenders in connection herewith. 

(vi) The definition of “Adjusted LIBOR” shall be deleted in its entirety and any and all references in the Credit Agreement or any
other Loan Document to “Adjusted LIBOR” are hereby amended to refer to “LIBOR.” 
 (vii) The definitions of
“Euro-Dollar Reserve Percentage”, “Euro-Dollar Business Day” and “New York Business Day” shall be deleted in their entirety. 

(viii) Section 2.06(c) shall be deleted in its entirety and the following new Section 2.01(c) shall be inserted in place thereof: 

(c) The principal amount of the Term Loan Advances shall be repaid in installments on each Quarterly Payment Date commencing on
June 30, 2018, each in the amount of $3,600,000; provided, however, that the entire amount of the outstanding Term Loan Advances shall be due and payable in full on the Term Loan Maturity Date. 

(ix) Section 2.08(c) shall be deleted in its entirety and the following new Section 2.08(c) shall be inserted in place thereof: 

(c) Borrowers shall pay to Agent for the account of Issuing Bank a letter of credit fee (the “LC Facility
Fee”) with respect to each Letter of Credit equal to the greater of (i) $500 or (ii) the product of: (A) the face amount of such Letter of Credit, multiplied by (B) 0.25%. Such LC Facility Fee shall be due and payable on such date
as may be agreed upon by Issuing Bank and Borrowers. Borrowers shall pay to Issuing Bank, for its own account, transfer fees, drawing fees, modification fees, extension fees and such other fees and charges as may be provided for in any LC
Application Agreement or otherwise charged by Issuing Bank. No Lender shall be entitled to any portion of the LC Facility Fees or any other fees payable by Borrowers to Issuing Bank pursuant to this Section 2.08(c). 

(x) Sections 5.01(a) and (b) shall be deleted in their entirety and the following new Sections 5.01(a) and (b) shall be inserted in
place thereof: 
 (a) as soon as available and in any event within 120 days after the end of each Fiscal Year, consolidated
balance sheets of CP Guarantor and its Consolidated Subsidiaries as of the end of such Fiscal Year and the related consolidated statements of income, shareholders’ equity and cash flows for such Fiscal Year, all audited by RSM US, LLP, or other
independent public accountants reasonably acceptable to Agent, with such certification to be free of exceptions and qualifications not acceptable to the Required Lenders; 

  
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 (b) as soon as available and in any event within 45 days after the end of each
Fiscal Quarter, consolidated balance sheets of CP Guarantor and its Consolidated Subsidiaries as of the end of such Fiscal Quarter and the related consolidated statements of income and statement of cash flows for such Fiscal Quarter and for the
portion of the Fiscal Year ended at the end of such Fiscal Quarter, which commencing with the Fiscal Quarter ending June 30, 2018, all certified (subject to normal year-end adjustments) as to fairness of
presentation, GAAP and consistency by the chief financial officer of Borrowers; 
 (xi) Section 5.01(d) shall be deleted in its entirety and
the following new Section 5.01(d) shall be inserted in place thereof: 
 (c) simultaneously with the delivery of each
set of financial statements referred to in clause (b) above, a certificate, substantially in the form of Exhibit E and with compliance calculations in form and content satisfactory to Agent (a “Compliance Certificate”),
of the chief financial officer or other Responsible Officer of CP Guarantor (i) setting forth in reasonable detail the calculations required to establish whether the Loan Parties were in compliance with the requirements of Sections 5.04,
6.01 and 6.21 on the date of such financial statements, (ii) setting forth the identities of the respective Subsidiaries on the date of such financial statements, and (iii) stating whether any Default or Event of Default
exists on the date of such certificate and, if any Default or Event of Default then exists, setting forth the details thereof and the action which Loan Parties are taking or propose to take with respect thereto; 

(xii) Section 6.23 shall be deleted in its entirety and the new Section 6.23 shall be substituted in place thereof: 

Limitation on Changes to Holding Company Status. Construction Partners and CP Guarantor shall not engage in any
business or activity other than: 
 (a) the ownership of outstanding Equity Interests in Borrowers in the case of
Construction Partners, and the ownership of outstanding Equity Interests in Construction Partners in the case of CP Guarantor; 

(b) maintaining its respective corporate existence; 

(c) participating in tax, accounting and other administrative activities as the parent of the consolidated group of companies
including the Loan Parties; 
 (d) the performance of obligations under the Loan Documents to which it is a party; 

(e) making any Restricted Payment permitted herein; and 

(f) activities incidental to the businesses or activities described in (a) through (e). 

(xiv) Article IX shall be deleted in its entirety and the new Article IX shall be substituted in place thereof: 

  
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 ARTICLE IX 

CHANGE IN CIRCUMSTANCES; COMPENSATION 

SECTION 9.01. Inability to Determine Interest Rate; Ineffective Interest Rate. If Agent shall have
determined that (a) adequate and reasonable means do not exist for ascertaining LIBOR as set forth herein, (b) LIBOR does not adequately and fairly reflect the effective cost to Lenders of making or maintaining Euro-Dollar Advances, or
(c) the making, maintenance or funding of Euro-Dollar Advances based on LIBOR has been made impractical or unlawful, then, and in any such event, Agent may notify Borrowers of such determination. Upon such date as shall be specified in such
notice, the Euro-Dollar Advances shall be converted to and shall continue as Base Rate Advances (and any future Advances hereunder shall be Base Rate Advances) unless and until such circumstances shall no longer exist and Agent shall have revoked
such notice. If an event described in clause (a) of this Section exists and Agent has determined that such event is unlikely to be temporary in nature, Agent and Borrowers shall endeavor to establish an alternative rate of interest to LIBOR
that gives due consideration to then prevailing market conventions for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of
interest and such other related changes to this Agreement as may be applicable. Notwithstanding anything to the contrary in Section 11.05, such amendment shall only become effective upon Agent’s receipt of written
consent to such amendment by all Lenders. 
 SECTION 9.02. Illegality. If any Change in Law or compliance
by any Lender (or its Lending Office) with any request or directive (whether or not having the force of law) of any Governmental Authority shall make it unlawful or impossible for any Lender (or its Lending Office) to make, maintain or fund its
Advances using LIBOR and such Lender shall so notify Agent, Agent shall forthwith give notice thereof to the other Lenders and Borrower Agent, whereupon until such Lender notifies Borrower Agent and Agent that the circumstances giving rise to such
suspension no longer exist, the obligation of such Lender to fund Advances using LIBOR shall be suspended, and Agent shall have the right, in its sole discretion, to substitute an alternative index rate for LIBOR (and such rate, however determined,
shall be referred to herein as “LIBOR” with respect to such Lender). Before giving any notice to Agent pursuant to this Section 9.02, such Lender shall designate a different Lending Office if such designation will
avoid the need for giving such notice and will not, in the judgment of such Lender, be otherwise disadvantageous to such Lender. If such Lender shall determine that it may not lawfully continue to maintain and fund any of its portion of the
outstanding Advances using LIBOR to maturity and shall so specify in such notice the then outstanding principal amount of such Advances of such Lender shall be converted to an alternative index rate selected by Agent, in its sole discretion, for so
long as such circumstances continue to exist, and such rate (however determined) shall be referred to herein as “LIBOR” with respect to such Lender. 

SECTION 9.03. Increased Costs; Capital Adequacy Requirements. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Credit Party (except any reserve requirement reflected in the LIBOR Reserve Percentage); or 

  
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 (ii) subject any Credit Party to any Taxes (other than (A) Indemnified
Taxes, (B) Taxes described in clauses (b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its advances, loans, loan principal, letters of credit, commitments, or other obligations, or its deposits,
reserves, other liabilities or capital attributable thereto; or 
 (iii) impose on any Credit Party or the London interbank
market any other condition, cost or expense (other than Taxes) affecting this Agreement or Euro-Dollar Advances by such Credit Party or participation therein; 

and the result of any of the foregoing shall be to increase the cost to such Credit Party of making, converting to, continuing or maintaining
any Euro-Dollar Advance or of maintaining its obligation to make any such Euro-Dollar Advance, or to increase the cost to such Credit Party of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to
participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Credit Party hereunder (whether of principal, interest or any other amount) then, upon request of such Credit Party, Borrowers will
pay to such Credit Party such additional amount or amounts as will compensate such Credit Party for such additional costs incurred or reduction suffered. 

(b) If any Credit Party determines that any Change in Law affecting such Credit Party or any lending office of such Lender or
such Credit Party’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Credit Party’s capital or on the capital of such Credit Party’s holding
company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Advances made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by any Issuing Bank, to a level below that
which such Credit Party or such Credit Party’s holding company could have achieved but for such Change in Law (taking into consideration such Credit Party’s policies and the policies of such Credit Party’s holding company with respect
to capital adequacy), then from time to time Borrowers shall pay to such Credit Party, as the case may be, such additional amount or amounts as will compensate such Credit Party or such Credit Party’s holding company for any such reduction
suffered. 
 (c) A certificate of a Credit Party setting forth the amount or amounts necessary to compensate such Credit
Party or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section 9.03 and delivered to Borrower Agent shall be conclusive absent manifest error. Borrowers shall pay such Credit
Party the amount shown as due on any such certificate within 10 days after receipt thereof. 
 (d) Failure or delay on the
part of any Credit Party to demand compensation pursuant to this Section shall not constitute a waiver of such Credit Party’s right to demand such compensation, provided that Borrowers shall not be required to compensate a Credit Party
pursuant to this Section for any increased costs incurred or reductions suffered more than 270 days prior to the date that such Credit Party notifies Borrower Agent of the Change in Law giving rise to such increased costs or reductions and of such
Credit Party’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 270 day-period referred to above shall
be extended to include the period of retroactive effect thereof). 

  
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 SECTION 9.04. [Intentionally Omitted.] 

SECTION 9.05. Compensation. Upon the request of any Lender, delivered to Borrower Agent
and Agent, Borrowers shall pay to such Lender within 10 days of Borrower Agent receipt such amount or amounts as shall compensate such Lender for any loss, cost or expense incurred by such Lender as a result of: 

(a) any payment or prepayment (pursuant to Sections 2.11, 2.12, 7.01, 9.03 or otherwise) of a
Euro-Dollar Advance on a date other than the last day of an Interest Period for such Advance; or 
 (b) any failure by
Borrowers to prepay a Euro-Dollar Advance on the date for such prepayment specified in the relevant notice of prepayment hereunder; or 

(c) any failure by Borrowers to borrow a Euro-Dollar Advance on the date for the Borrowing of which such Euro-Dollar Advance is
a part; 
 such compensation to include an amount equal to the excess, if any, of (x) the amount of interest which would have accrued on
the amount so paid or prepaid or not prepaid or borrowed for the period from the date of such payment, prepayment or failure to prepay or borrow to the last day of the then current Interest Period for such Euro-Dollar Advance (or, in the case of a
failure to prepay or borrow, the Interest Period for such Euro-Dollar Advance which would have commenced on the date of such failure to prepay or borrow) at the applicable rate of interest for such Euro-Dollar Advance provided for herein over
(y) the amount of interest (as reasonably determined by such Lender) such Lender would have paid on deposits in Dollars of comparable amounts having terms comparable to such period placed with it by leading lenders in the London interbank
market (if such Advance is a Euro-Dollar Advance). 
 SECTION 9.06. Mitigation Obligations. If any Lender
requests compensation under Section 9.03, or requires Borrowers to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to
Section 2.13, then such Lender shall (at the request of Borrowers) use reasonable efforts to designate a different lending office for funding or booking its Advances hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 9.03 or 2.13, as
the case may be, in the future, and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. Borrowers hereby agree to pay all reasonable costs and expenses incurred by
any Lender in connection with any such designation or assignment. 
 (xv) Each respective schedule attached to the Credit Agreement shall be
amended to include the additional information set forth on the respective schedule attached hereto as Exhibit A. 
 D. Joinder by
Scruggs Company. Scruggs Company hereby agrees that it is a “Borrower” under, bound by and required to perform all of the terms, covenants, conditions and agreements of “Borrower” or “Borrowers” under the Credit
Agreement and Loan Documents, including without limitation the Notes, with the same force and effect as if Scruggs Company were an original signatory thereto on the Closing Date, and Scruggs Company hereby agrees to abide by and perform all of its
obligations as a “Borrower” under the Credit Agreement and the other Loan Documents, including, 

  
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without limitation, the Notes. Scruggs Company agrees and acknowledges that it will be that it shall be subject to all remedies reserved to Agent or Lenders in the Loan Documents in the event of
any Event of Default thereunder. Each reference to “Borrower” or “Borrowers” in the Credit Agreement and the other Loan Documents shall be understood to mean and include Scruggs Company (along with the other Borrowers). 

Scruggs Company represents and warrants that this Agreement has been duly executed and delivered by Scruggs Company and constitutes a legal,
valid and binding obligation of Scruggs Company enforceable against it in accordance with its terms, except as enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
creditors’ rights generally and by general principles of equity (regardless of whether such enforceability is considered in proceeding at law or in equity). Scruggs Company agrees and acknowledges that it will be jointly and severally liable
for the Obligations as set forth in Section 2.18, subject to any limitations set forth therein. 
 Scruggs Company hereby ratifies and
affirms the representations and warranties set forth in the Loan Documents, including the representations and warranties set forth in Article IV of the Credit Agreement, and with respect to Section 4.23, Scruggs Company represents and warrants
that its “location” (within the meaning of Article 9 of the UCC) is the State of Georgia. 
 Scruggs Company agrees to execute any
and all additional documents required under the Credit Agreement or reasonably requested by Agent. Scruggs Company, jointly and severally with Borrowers and Guarantors, agrees to reimburse Agent and Lenders for their respective out-of-pocket expenses in connection with the preparation, execution and delivery of this Agreement, including reasonably fees, disbursements and other charges of counsel for
Agent and Lenders. 
 Scruggs Company shall receive notices and other communications at the following address: 

290 Healthwest Drive, Suite 2 

Dothan, AL 36303 
 E.
Conditions Precedent. Agent, Lenders, Borrowers and Guarantor hereby agree that this Agreement shall not be effective until the following conditions have been met: 

(a) All conditions set forth in Section 3.02 have been satisfied; 

(b) Receipt by Agent of a fully executed copy of this Amendment; 

(c) Receipt by each Lender of an Amendment to Term Loan Note; 

(d) Receipt by Agent of a Closing and Incumbency Certificate dated as of the date hereof, in form and content acceptable to Agent; 

(e) Receipt by Agent of a Notice of Borrowing for the additional Term Loan Advance; 

(f) the Security Agreement and the other Collateral Documents, each in form and content satisfactory to Agent, shall have been duly executed by
the applicable Loan Parties and delivered to Agent and shall be in full force and effect and each document (including each UCC financing statement) required by law or reasonably requested by Agent to be filed, registered or recorded in order to
create in favor of Agent for the benefit of Secured Parties, upon filing, recording or possession by Agent, as the case may be, a valid, legal and perfected first priority security interest in and Lien on the Collateral described in the Collateral
Documents shall have been delivered to Agent; Borrowers shall also deliver or cause to be delivered the certificates (with undated stock powers executed in blank) for all Equity Interests pledged to Agent for the benefit of Secured Parties pursuant
to the Pledge Agreement; 

  
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 (g) Agent shall have received and found acceptable (i) all consents, approval,
authorizations, registrations or filings required to be made or obtained by Borrowers in connection with this Agreement, (ii) evidence that such consents, approvals, authorizations, registrations, filings and orders shall be in full force and
effect and all applicable waiting periods have expired, and (iii) evidence that no investigation or inquiry by any Governmental Authority regarding this Agreement, any credit facility set forth in this Agreement, or any transaction being
financed with any Advance exists or is ongoing; 
 (g) Agent shall have received and found acceptable all documentation evidencing the
transaction to purchase all Equity Interests of Scruggs Company by Holdings, and such transaction shall have closed (or shall close concurrent with the funding of the additional Term Loan Advance); and 

(h) Agent shall have received evidence of the completion of an initial public offer by Guarantor. 

F. Effect on Loan Documents. Each of the Loan Documents shall be deemed amended as set forth hereinabove and to the extent
necessary to carry out the intent of this Agreement. Without limiting the generality of the foregoing, each reference in the Loan Documents to the “Note”, the “Credit Agreement”, or any other “Loan Documents” shall be
deemed to be references to said documents, as amended hereby. Except as is expressly set forth herein, all of the Loan Documents and the Guaranty shall remain in full force and effect in accordance with their respective terms and all of the
remaining terms and provisions of the Loan Documents and the Guaranty are hereby ratified and confirmed. Borrower agrees that Loan Documents shall continue to evidence, secure, guarantee or relate to, as the case may be, the Loans. Guarantor agrees
that the Guaranty shall continue to secure the Loan. 
 G. Representations and Warranties. Each representation and warranty
contained in the Loan Documents is hereby reaffirmed as of the date hereof. The Borrowers hereby represent, warrant and certify to Lenders that no Event of Default nor any condition or event that with notice or lapse of time or both would constitute
an Event of Default, has occurred and is continuing under any of the Loan Documents or the Loan, and that Borrowers have no offsets or claims against any Lender arising under, related to, or connected with the Loan, the Credit Agreement or any of
the other Loan Documents. 
 Guarantor hereby consents to the modifications, amendments and terms as described herein, and acknowledges,
reaffirms and restates the continuing effect of its Guaranty and its obligations to Bank for the obligations of Borrower as set forth in its Guaranty. Guarantor hereby represents that Guarantor has no offsets or claims against Agent or Lenders
arising under, related to or connected with the Credit Agreement or any of the other Loan Documents or otherwise. For the avoidance of doubt, the Guarantor hereby agrees and acknowledges that Section 10.13 of the Credit Agreement is not
applicable to the Guarantor. 
 H. Additional Documentation; Expenses. If requested by Agent, Borrowers and Guarantor shall
provide to Agent (i) certified resolutions properly authorizing the transactions contemplated hereby and the execution of this Agreement and all other documents and instruments being executed in connection herewith; and (ii) all other
documents and instruments required by Agent; all in form and substance satisfactory to Agent. Borrowers shall pay any recording and all other expenses incurred by Agent and Borrowers in connection with the modification of the Loans and any other
transactions contemplated hereby, including without limitation, any applicable title or other insurance premiums, survey costs, legal expenses, recording fees and taxes. 

  
 11 








 I. Release of Claims. The Borrowers acknowledge and confirm their
obligations to the Lenders for repayment of the Loans and indebtedness evidenced by the Notes (the “Indebtedness”), and the Guarantor acknowledges and confirms its obligations to the Agent and the Lenders for the obligations of the
Borrowers as set forth in its Guaranty. The Borrowers and the Guarantor further acknowledge and represent that they have no defense, counterclaim, offset, cross-complaint, claim or demand of any kind or nature whatsoever (collectively, the
“Loan Defenses” ) that can be asserted to reduce or eliminate all or any part of their liability to repay the Indebtedness to the Lenders. To the extent that any such Loan Defenses exist, and for and in consideration of the
Lenders’ commitments contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, they are hereby fully, forever and irrevocably released. 

By their execution below, for and in consideration of the Lenders’ commitments contained in this Agreement, the receipt and sufficiency
of which are hereby acknowledged, the Borrowers and the Guarantor, for themselves and for their respective successors, executors, heirs, administrators, and assigns, each hereby acknowledge and agree that neither the Lenders, nor any of their
officers, directors, employees, agents, servants, representatives, attorneys, loan participants, successors, successors-in-interest, predecessors-in-interest and assigns (hereinafter referred to collectively as the “Released Parties”) have interfered with or impaired the acquisition, collection, use, ownership,
disposition, disbursement, leasing or sale of any of the collateral which secures the Loan (the “Collateral”), and that neither the Borrowers nor the Guarantor any claim of any nature whatsoever, at law, in equity or otherwise,
against the Released Parties, or any of them, as a result of any acts or omissions of the Released Parties, or any of them, under the Loan Documents or in connection to the Loans or the Collateral prior to and including the date hereof. Each of the
Borrowers and the Guarantor, for themselves and for their respective successors, executors, heirs, administrators, and assigns, hereby unconditionally waive and release the Released Parties, and forever discharge the Released Parties, of and from
and against any and all manner of action, suits, claims, counterclaims, causes of action, offsets, deductions, breach or breaches, default or defaults, debts, dues, sums of money, accounts, deposits, damages, expenses, losses, liabilities, costs,
expenses, any and all demands whatsoever and compensation of every kind and nature, past, present, and future, known or unknown (herein collectively, “Claims”) that the Borrowers, the Guarantor, or any of the Borrowers’, or any
of the Guarantor’s successors, successors-in-interest, heirs, executors, administrators, or assigns, or any one of them, can or now have or may have at any
time hereafter against the Released Parties, or any of them, by reason of any matter, cause, transaction, occurrence or omission whatsoever, which happened or has happened on or before the date of this Agreement, on account of or arising from or
which is connected in any manner whatsoever with the Loans, the Indebtedness, the Collateral, the Loan Documents, any related documents, or any and all collateral which has served or is serving as security for the Loans or the Loan Documents, or
which is related to any and all transactions and dealings with among Lenders, the Borrowers and/or the Guarantor, or any other matter or thing that has occurred before the signing of the Agreement, known or unknown. Any and all such Claims are
hereby declared to be satisfied and settled, and the Borrowers and the Guarantor, for themselves and for their respective successors, executors, heirs, administrators, and assigns, each hereby discharge the Released Parties from any liability with
respect to any and all such Claims. 
 J. Waiver of Trial by Jury. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER  

  
 12 








 
LOAN DOCUMENT OR THE TRANSACTION CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED
TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 K.
Counterparts. This document may be executed in any number of identical counterparts, each of which for all purposes is deemed an original, and all of which constitute collectively one (1) document and agreement, but in making
proof of this document, it shall not be necessary to produce or account for more than one such counterpart, and counterpart pages may be combined into one single document. 

This Agreement is intended to take effect as a sealed instrument. 

[Remainder of this page is blank – signature pages follow] 

  
 13 








 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed,
under seal, by their respective Responsible Officers effective as of the day and year first above written. 
  

									
	CONSTRUCTION PARTNERS HOLDINGS, INC., a Delaware corporation, formerly known as Construction Partners, Inc.	 		  	WIREGRASS CONSTRUCTION COMPANY, INC., an Alabama corporation
					
	By:	 	 /s/ R. Alan Palmer
	 		  	By:	  	 /s/ R. Alan Palmer

	Name:	 	R. Alan Palmer	 		  	Name:	  	R. Alan Palmer
	Title:	 	Vice President	 		  	Title:	  	Vice President
			
	C. W. ROBERTS CONTRACTING, INCORPORATED, a Florida corporation	 		  	 FRED SMITH CONSTRUCTION, INC.,

a North Carolina corporation

					
	By:	 	 /s/ R. Alan Palmer
	 		  	By:	  	 /s/ R. Alan Palmer

	Name:	 	R. Alan Palmer	 		  	Name:	  	R. Alan Palmer
	Title:	 	Vice President	 		  	Title:	  	Vice President
			
	 EVERETT DYKES GRASSING CO., INC.,

a Georgia corporation
	 		  	 FSC II, LLC,
 a North
Carolina limited liability company

					
	By:	 	 /s/ R. Alan Palmer
	 		  	By:	  	 /s/ R. Alan Palmer

	Name:	 	R. Alan Palmer	 		  	Name:	  	R. Alan Palmer
	Title:	 	Vice President	 		  	Title:	  	Vice President
			
	 THE SCRUGGS COMPANY,
 a
Georgia corporation
	 		  	
					
	By:	 	 /s/ R. Alan Palmer
	 		  		  	
	Name:	 	R. Alan Palmer	 		  		  	
	Title:	 	Vice President	 		  		  	








 
			
	CONSTRUCTION PARTNERS, INC., a Delaware corporation, as a Guarantor


 
			
		
	By:	 	 /s/ R. Alan Palmer

	Name:	 	R. Alan Palmer
	Title:	 	Vice President









 
			
	COMPASS BANK, as Agent, Issuing Bank and a
	Lender	 	


 
			
		
	By:	 	 /s/ John Brown

	Name:	 	John Brown
	Title:	 	Sr. Vice President









 
			
	SERVISFIRST BANK, as a Lender


 
			
		
	By:	 	 /s/ B. Harrison Morris

	Name:	 	B. Harrison Morris
	Title:	 	President & CEO









 Exhibit A 

Credit Agreement Schedule Addenda 

[See attached.] 







 Schedule 1.01 

Collateral Locations 
 Leased Locations:

  

	(a)	South 1/3 of Land Lot 523, 10th Land District, Berrien County, GA 

  

	(b)	Original Land Lot No. 522 in the 5th Land District, Berrien County, GA 

  

	(c)	Lots 398, 430 and 431 in the 9th Land District, Cook County, GA 


Owned Locations: 
  

	(a)	Highway 135 South, Willacoochee, Berrien County, GA 

  

	(b)	GA Highway 41 South, Cordele, Crisp County, GA 

  

	(c)	4679 Old Highway 41 North, Hahira, Lowndes County, GA 

  

	(d)	321 Ross Road, Lenox, Cook County, GA 

  

	(e)	Highway 280 South, Mt Vernon, Montgomery County, GA 

  

	(f)	MJ Taylor Road, Adel, Cook County, GA 

  

	(g)	Maddox Road, Ochlocknee, Thomas County, GA 

  

	(h)	1778 Nine Dime Doctor Rd., Meigs, Thomas County, GA 








 Schedule 4.14 

Equity Interests 
 The Scruggs
Company     
  

															
	 Stock Type
	  	Authorized
Shares	 	  	Issued
Shares	 	  	Ownership of Shares	  	Certificate
Number	 
	 Class A Voting
	  	 	50,000	 	  	 	451	 	  	Construction Partners Holdings, Inc.	  	 	67	 
	 Class B Non-Voting
	  	 	950,000	 	  	 	22,550	 	  	Construction Partners Holdings, Inc.	  	 	68	 








 Schedule 4.18 

Labor Matters 
 None 







 Schedule 4.26 

Material Contracts 
 [See
attached.] 








			
	Schedule 2.12: Listing of Contracts	  	added partial info on new jobs on 5/2/18

  

																																																							
	 Job#
	 	 Job Name
	 	 Location
	 	 Project or contract
Number
	 	Contract
Amount at
Award	 	 	Completion
Date
at Award	 	 	LD’s / day	 	 	Lookup &
Sum
changes to
ContractAmt	 	 	Current
Contract
Amount	 	 	Lookup &
sum
Changes to
Completion
Date	 	 	Current
Contract
Completion
Date	 	 	Are there
Notes
Attached?	 	 	# of
subs	 	 	$-Value of
subs
This Job	 	 	# of
PO’s	 	 	$-Value of
PO’s This
Job	 
	 1879
	 	GDOT - US B4/SR 38 EAST-10.162 miles widening/resurfacing	 	Clinch & Ware	 	Eds00-0084-00(023), Bhn00-0007703 (025)	 	$	55,867,848.99	 	 	 	06/30/2018	 	 	$	6,089.00	 	 	$	6,456,275.75	 	 	$	52,324,124.75	 	 	 	457	 	 	 	09/30/2019	 	 	 	see notes	 	 	 	15	 	 	$	23,194,602.64	 	 	 	2	 	 	$	543,829.68	 
																
	 1890
	 	Lowndes Co BOC – paving various roads	 	Lowndes Co	 	Paving Various Roads	 	$	1,198,100.00	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	1,198,100.00	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	300,000.00	 	 	 	0	 	 	$	0.00	 
																
	 1891
	 	GDOT- OLD Hwy 133 Widening & resurfacing Berlin	 	Brooks Colquitt Co	 	STP00-0000-00(545)	 	$	32,043,562.43	 	 	 	04/30/2018	 	 	$	1,869.00	 	 	$	3,216,759.64	 	 	$	35,260,322.07	 	 	 	15	 	 	 	05/15/2018	 	 	 	_	 	 	 	13	 	 	$	6,071,139.47	 	 	 	1	 	 	$	242,047.94	 
																
	 1916
	 	GDOT-NEW Hwy 133 Widening/Resurfacing MORVEN	 	Brooks Co	 	STP00-0000-00(544)	 	$	26,708,417.83	 	 	 	10/31/2018	 	 	$	1,869.00	 	 	$	1,562,522.90	 	 	$	28,270,940.73	 	 	 	0	 	 	 	10/31/2018	 	 	 	_	 	 	 	15	 	 	$	6,002,866.11	 	 	 	8	 	 	$	4,656,259.52	 
																
	 1933
	 	Sub from McCoy Grading-Valdosta High School-asphalt paving	 	Lowndes Co	 	Lowndes Co	 	$	1,221,340.42	 	 	 
	Winter
2018	 
 	 	 	?	 	 	$	0.00	 	 	$	1,221,340.42	 	 	 	0	 	 	 	Winter 2018	 	 	 	_	 	 	 	1	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
																
	 1939
	 	Sub from So Conc-GDOT-asph paving	 	Grady	 	0014177	 	$	75,802.00	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	75,802.00	 	 	 	0	 	 	 	?	 	 	 	_	 	 	 	1	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
																
	 1946
	 	GDOT-14.093 miles Micro Milling & Resurfacing I-75	 	Lowndes	 	M004806	 	$	10,609,988.98	 	 	 	09/30/2017	 	 	$	11,191.00	 	 	$	0.00	 	 	$	10,609,988.98	 	 	 	303	 	 	 	07/30/2018	 	 	 	see notes	 	 	 	5	 	 	$	2,282,801.75	 	 	 	3	 	 	$	1,093,791.99	 
																
	 1949
	 	GDDT-Resurfacing SR 125	 	Berrien Lanier Lowndes	 	M004982	 	$	1,120,494.24	 	 	 	01/31/2018	 	 	$	247.00	 	 	$	0.00	 	 	$	1,120,494.24	 	 	 	0	 	 	 	01/31/2018	 	 	 	see notes	 	 	 	3	 	 	$	98,673.00	 	 	 	1	 	 	$	168,674.80	 
																
	 1957
	 	Lowndes Co BOC-Resurface 5 county roads	 	Lowndes Co	 	Eng2017-01	 	$	2,096,115.11	 	 	 	10/17/2017	 	 	 	?	 	 	$	28,561.25	 	 	$	2,124,676.36	 	 	 	257	 	 	 	07/01/2018	 	 	 	see notes	 	 	 	4	 	 	$	127,557.50	 	 	 	1	 	 	$	8,474.67	 
																
	 1960
	 	Thomas Co BOC-Resurf co rds-Metcalfe, Hall, Airport, Harts Mill	 	Thomas Co	 	Resurf Co Rds-Metcalfe, Hall, Airport, Harts Mill	 	$	1,397,662.31	 	 	 	11/09/2017	 	 	 	?	 	 	$	1,200.00	 	 	$	1,398,862.31	 	 	 	0	 	 	 	11/09/2017	 	 	 	see notes	 	 	 	1	 	 	$	71,060.00	 	 	 	1	 	 	$	295,320.00	 
																
	 1961
	 	City of Thomasville-2017 SPLOST/LMIG	 	Thomas Co	 	2017 Splost/Lmig	 	$	1,589,218.06	 	 	 	03/19/2018	 	 	 	?	 	 	$	69,941.00	 	 	$	1,629,159.06	 	 	 	12	 	 	 	03/31/2018	 	 	 	see notes	 	 	 	3	 	 	$	786,187.00	 	 	 	1	 	 	$	9,429.40	 
																
	 1963
	 	Berrien Co BOC-2017 LMIG Resurfacing	 	Berrian	 	2017 Lmig Resurfacing	 	$	898,815.00	 	 	 	10/28/2018	 	 	$	300.00	 	 	$	0.00	 	 	$	898,815.00	 	 	 	0	 	 	 	10/28/2018	 	 	 	see notes	 	 	 	1	 	 	$	28,126.25	 	 	 	0	 	 	$	0.00	 
																
	 1964
	 	GDOT-Resurface SR 37	 	Colquit	 	MDO5049	 	$	2,317,469.81	 	 	 	06/30/2018	 	 	$	391.00	 	 	$	0.00	 	 	$	2,317,469.81	 	 	 	0	 	 	 	06/30/2018	 	 	 	_	 	 	 	3	 	 	$	195,099.62	 	 	 	1	 	 	$	423,559.50	 
																
	 1966
	 	GDOT-PVMT Preservation-Widening SR 135 (MM 0-6.921)	 	Lanier Co	 	4B4O0-Doo0000925	 	$	506,422.69	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	505,422.69	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	13,500.00	 	 	 	0	 	 	$	0.00	 
																
	 1968
	 	City of Camilla-paving improvements	 	Mitchell Co	 	Paving Improvements	 	$	672,365.05	 	 	 	04/08/2018	 	 	$	200.00	 	 	$	0.00	 	 	$	672,365.06	 	 	 	0	 	 	 	04/08/2018	 	 	 	_	 	 	 	2	 	 	$	90,369.25	 	 	 	0	 	 	$	0.00	 
																
	 1969
	 	Tift Co BOC-Windy Hill & Oakridge Church Rd	 	Tift Co	 	Windy Hill & Oakridge Church Rd	 	$	730,839.89	 	 	 	07/16/2018	 	 	$	200.00	 	 	$	0.00	 	 	$	730,839.89	 	 	 	0	 	 	 	07/16/2018	 	 	 	_	 	 	 	2	 	 	$	37,649.00	 	 	 	1	 	 	$	94,808.42	 
																
	 1970
	 	Lowndes Co Emergency Repair-Foxborough Subdivision	 	Lowndes Co	 	Emergency Repair- Foxborough Subdivision	 	$	30,100.00	 	 	 	02/28/2018	 	 				 	$	0.00	 	 	$	30,100.00	 	 	 	0	 	 	 	02/28/2018	 	 	 	see notes	 	 	 	1	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
																
	 1971
	 	Lowndes Co BOC – Stafford Wright Rd	 	Lowndes Co	 	Stafford Wright Rd	 	$	2,691,185.03	 	 	 	08/23/2018	 	 	$	500.00	 	 	$	0.00	 	 	$	2,691,185.03	 	 	 	0	 	 	 	02/23/2018	 	 	 	-	 	 	 	6	 	 	$	1,479,197.50	 	 	 	1	 	 	$	73,769.05	 
																
	 1972
	 	GDOT-Pvmt Preserv-SR 90 (MM 0.00 to 6.0)	 	Irwin Co	 	4B4O0-Doo0001095	 	$	362,120.83	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	362,120.83	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	11,080.00	 	 	 	0	 	 	$	0.00	 
																
	 1973
	 	GDOT-Pvmt Preserv SR 90 (MM 6.00 to 11.7)	 	Irwin Co	 	4B4O0-Doo0001096	 	$	366,705.05	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	366,705.05	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	10,315.00	 	 	 	0	 	 	$	0.00	 
																
	 1974
	 	GDOT - Pvmt Preserv SR 135 LANIER & BERRIEN CO	 	Lanier, Berrien	 	4B4O0-Doo0001097	 	$	361,887.04	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	361,887.04	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	11,300.00	 	 	 	0	 	 	$	0.00	 
																
	 1975
	 	GDOT – Pvmt Preserv- Widen SR 135 (MM 5.50 to 10.75)	 	Berrian Co	 	4B4O0-Doo0001102	 	$	306,148.92	 	 	 	?	 	 	 	?	 	 	$	0.00	 	 	$	306,148.92	 	 	 	0	 	 	 	?	 	 	 	see notes	 	 	 	1	 	 	$	9,200.00	 	 	 	0	 	 	$	0.00	 
																
	 1976
	 	Grady Co BOC- Gainous Rd widen/resup	 	Grady Co	 	Gainous Rd Widen/Resurf	 	$	131,923.15	 	 	 	07/16/2018	 	 	$	200.00	 	 	$	0.00	 	 	$	131,923.15	 	 	 	0	 	 	 	07/16/2018	 	 	 	-	 	 	 	1	 	 	$	5,487.50	 	 	 	0	 	 	$	0.00	 
																
	 1977
	 	Tift Co BOC – Moore Hwy Improvements	 	Tift Co	 	Moore Hwy Improvements	 	$	1,069,763.94	 	 	 	10/16/2018	 	 	$	200.00	 	 	$	0.00	 	 	$	1,069,763.94	 	 	 	0	 	 	 	16/10/2018	 	 	 	-	 	 	 	6	 	 	$	244,972.00	 	 	 	1	 	 	$	88,562.06	 
																
	 1979
	 	Teramore Development - Dollar General	 	Lowndes Co	 	Statenville Hhaw Stone	 	$	296,212.44	 	 	 	NA	 	 	$	0.00	 	 	$	0.00	 	 	$	296,212.44	 	 	 	0	 	 	 	NA	 	 				 	 	7	 	 	$	61,500.50	 	 	 	1	 	 	$	1,915.94	 
																
	 1980
	 	City of Cairo, LMIG/Street & Drainage	 	Grady Co	 	--	 	$	1,157,720.57	 	 	 	12/01/2018	 	 	$	200.00	 	 	$	0.00	 	 	$	1,157,720.57	 	 	 	0	 	 	 	12/01/2018	 	 				 	 	3	 	 	$	147,490.00	 	 	 	4	 	 	$	217,738.57	 
															
	 1981
	 	GDOT-PVMT Preserv- Widen SR 7 9US 41)	 	Lowndes Co	 	4B4O0-DOT0001184	 	$	156,944.47	 	 	 

	90 Days
After NTP/
Summer	 
 
 	 	$	0.00	 	 	$	0.00	 	 	$	156,944.47	 	 	 	0	 	 	 	After NTP/ Summer	 	 	 	2	 	 	$	23,310.80	 	 	 	0	 	 	$	0.00	 









			
	Schedule 2.12: Listing of Contracts	  	added partial info on new jobs on 5/2/18

  

																																																			
	 Job#
	  	 Job Name
	 	Location	 	Project or
contract Number	 	Contract
Amount at
Award	 	 	 Completion
Date at
Award
	 	LD’s/
day	 	 	Lookup
& Sum
changes
to
Contract
Amt 	 	 	Current
Contract
Amount	 	 	Lookup &
sum
Changes to
Completion	 	 	Current
Contract
Completion
Date	 	Are there
Notes
Attached?	 	 	# of
subs	 	 	S-Value of
subs This
Job	 	 	# of
PO’s	 	 	S-Value
of PO’s
This Job	 
	 1982
	  	City of Valdosta - Asphalt Patching	 	Valdosta	 	—  	 	$	11,242.61	 	 	Completed	 	$	0.00	 	 	$	0.00	 	 	$	11,242.61	 	 	 	0	 	 	Completed	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1983
	  	Moutire Municipal Airport, Pvmnt Rehab & Taxlane Crack Seal	 	Colquit Co	 	—  	 	$	714,040.55	 	 	90 Days After NTP/ After march	 	$	150.00	 	 	$	0.00	 	 	$	714,040.55	 	 	 	0	 	 	After NTP/ After march	 	 	 	3	 	 	$	208,975.26	 	 	 	0	 	 	$	0.00	 
	 1984
	  	GDOT - Milling and Resrufacings SR 38 (Hwy 84)	 	Lowndes co	 	M005019 / M00636	 	$	733,249.55	 	 	12/31/2018	 	$	151.00	 	 	$	0.00	 	 	$	733,249.55	 	 	 	0	 	 	12/31/2018	 				 	 	4	 	 	$	103,421.68	 	 	 	0	 	 	$	0.00	 
	 1985
	  	City of Ray City-2017 LMIG - Pauline St	 	Location	 		 	$	67,397.30	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	67,397.30	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1986
	  	VALDOSTA COUNTRY CLUB-CART PATH RPR	 	Location	 		 	$	0.00	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	0.00	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1987
	  	City of Lenox - Resurface East Revels St	 	Location	 		 	$	59,758.11	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	59,758.11	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1988
	  	GDOT-Pvmt Preservation widen SR7(US41)	 	Location	 		 	$	485,335.16	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	485,335.16	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1989
	  	GDOT-Pvtm Preservation widen SR135	 	Location	 		 	$	611,340.25	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	611,340.25	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1990
	  	City of Nashville-LMIG Resurfacing 10 st	 	Location	 		 	$	183,133.13	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	183,133.13	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1991
	  	City of Ashbum-LMIG Resurfacing	 	Location	 		 	$	152,836.05	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	152,836.05	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1992
	  	LANGDALE POWERSPORTS	 	Location	 		 	$	539,857.25	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	539,857.25	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1993
	  	Thomas Co BOC-Resuf & widening	 	Location	 		 	$	3,678,712.51	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	3,678,712.51	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1994
	  	Berrien Co BOC-Off System Safety Stripe	 	Location	 		 	$	15,895.48	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	15,895.48	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1995
	  	GDOT-PCCPvmmt Rehab Sidewalk SR 133 Lwds	 	Location	 		 	$	460,809.47	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	460,809.47	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1996
	  	GDOT-PCCPvmnt Rehab Sidewalk SR 11 Echols	 	Location	 		 	$	627,500.52	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	627,500.52	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1997
	  	Sub from A&K Realty Jacuzzi	 	Location	 		 	$	134,400.00	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	134,400.00	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1998
	  	2018 LMIG Resurf, Lowndes BOC	 	Location	 		 	$	1,582,919.75	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	1,582,919.75	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 1999
	  	City of Morven - 2nd Str Grading & Drain	 	Location	 		 	$	55,931.49	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	55,931.49	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 
	 ??
	  	Titt Airport Apm Rehab	 	Location	 		 	$	260,715.10	 	 	mm/dd/yyyy	 	 	?	 	 	$	0.00	 	 	$	260,715.10	 	 	 	0	 	 	mm/dd/yyyy	 				 	 	0	 	 	$	0.00	 	 	 	0	 	 	$	0.00	 








 Schedule 4.30 

Surety Obligations 
 [See
attached.] 








																																											
	 	 	STATUS per March 31 2018 reports
	 	 	for the month of
Mar-18	 	STATUS OF JOB TO DATE	 	 	 Note:“#” below

indicates
	 	Basis for Percent-Complete Adjustments
	 Bonded?
	 	JOB	 	 	 DESCRIPTION
	 	TOTAL
COST	 	 	ACTUAL
BILLING	 	 	%-COMPLETE
ADJUSTMENT	 	 	NET
INCOME	 	 	% net
actual	 	 	% net
Asbid	 	 	billing <%
compl % cost,
% billed	 	REMAINING
COST	 	 	REMAINING
BILLING	 	 	 Notes & Comments

	 Yes
	 	 	1879	 	 	GDOT-US 84 EAST, Clinch/Ware Counties	 	 	28,728,536	 	 	 	37,270,145	 	 	 	(2,947,666	) 	 	 	5,593,944	 	 	 	19	% 	 	 	8	% 	 	55.6%, 60.4%	 	 	22,940,727.00	 	 	 	24,460,018.00	 	 	Underway, appears to be going well, see detailed analysis
	 Yes
	 	 	1890	 	 	Lowndes Co BOC-paving various rds	 	 	304,966	 	 	 	364,647	 	 	 	(1,459	) 	 	 	58,222	 	 	 	19	% 	 	 	17	% 	 	30.6%, 30.7%	 	 	693,007.35	 	 	 	823,852.93	 	 	Mid-stages, no changes to%-net indicated, anticipate owner will have add’l ready to restart work Sum 2018, have beaten illegible on work done
	 Yes
	 	 	1891	 	 	GDOT-Hwy 133 Widening - Berlin (Colo/Brooks)	 	 	25,130,271	 	 	 	25,948,321	 	 	 	+11,040	 	 	 	829,090	 	 	 	3	% 	 	 	7	% 	 	#82.9%, 82.8% #	 	 	5,192,415.00	 	 	 	5,374,761.00	 	 	Late Stages, will not make bidline budget, see detailed analysis
	 Yes
	 	 	1916	 	 	GDOT-Hwy 133 Widening - Morven (Brooks)	 	 	17,319,675	 	 	 	20,345,730	 	 	 	(985,716	) 	 	 	2,040,339	 	 	 	12	% 	 	 	11	% 	 	71.6%, 75.3%	 	 	6,867,459.00	 	 	 	6,690,762.00	 	 	Mid Stages, good probability of beating the bidtime budget, see detailed analysis
	 Yes
	 	 	1923	 	 	GDOT-Resurf SR520 (Hwy 82)	 	 	5,556,048	 	 	 	6,577,017	 	 	 	(5,913	) 	 	 	1,015,056	 	 	 	18	% 	 	 	12	% 	 	99.9%, 100.0%	 	 	5,000.00	 	 	 	0.00	 	 	Waiting on trailling costs, final acceptance. There is a punch list on the white topping & out subcontractor should be responsible finacially
	 Yes
	 	 	1928	 	 	GDOT-SR 37 Resurfacing	 	 	1,400,637	 	 	 	1,732,356	 	 	 	(124	) 	 	 	331,595	 	 	 	24	% 	 	 	16	% 	 	100.0%, 100.0%	 	 	100.00	 	 	 	0.00	 	 	Waiting on trailling costs, final acceptance
	 No
	 	 	1933	 	 	Sub from McCoy Grading-VHS asph pave	 	 	941,620	 	 	 	1,183,559	 	 	 	(1,256	) 	 	 	240,684	 	 	 	26	% 	 	 	19	% 	 	99.9%, 100.0%	 	 	1,000.00	 	 	 	0.00	 	 	Waiting on traling costs
	 Yes
	 	 	1935	 	 	GDOT-HWY 319 (SR35) Milling/Resurf	 	 	11,507,207	 	 	 	13,898,496	 	 	 	(104	) 	 	 	2,391,185	 	 	 	21	% 	 	 	13	% 	 	100.0%, 100.0%	 	 	500.00	 	 	 	500.00	 	 	Waiting on changes order clarifying time. Should be a $0 Change
	 Yes
	 	 	1938	 	 	Sub from Oxford-GDOT-US19 Median Crossov	 	 	1,819,620	 	 	 	2,454,035	 	 	 	(135	) 	 	 	634,280	 	 	 	35	% 	 	 	15	% 	 	100.0%, 100.0%	 	 	100.00	 	 	 	0.00	 	 	Waiting on trailing costs
	 No
	 	 	1939	 	 	Sub from So Conc-GDOT-asph paving	 	 	152	 	 	 	—	 	 	 	+190	 	 	 	38	 	 	 	25	% 	 	 	25	% 	 	#0.3%, 0.0% #	 	 	60,434.45	 	 	 	75,802.58	 	 	No work yet, no changes to bidtimes estimate indicated
	 Yes
	 	 	1945	 	 	GDOT-Resurfacing SR112	 	 	2,660,812	 	 	 	3,638,855	 	 	 	(19,901	) 	 	 	958,141	 	 	 	36	% 	 	 	16	% 	 	99.4%, 100.0%	 	 	15,000.00	 	 	 	500.00	 	 	Pending some shoulder work, waiting on trailing costs and final acceptance
	 Yes
	 	 	1946	 	 	GDOT-Micro Mill/Resurface 1-75	 	 	212,028	 	 	 	995,031	 	 	 	(712,164	) 	 	 	70,839	 	 	 	33	% 	 	 	20	% 	 	2.7%, 9.4%	 	 	7,740,873.25	 	 	 	9,614,957.78	 	 	For Feb 2018, recognized clarifications and lowered final cost projection -$890K (i.e Raised Projected net). Planned restart May 1, 2018
	 Yes
	 	 	1949	 	 	GDOT-Resurfacing SR 125	 	 	7,523	 	 	 	1,111,602	 	 	 	(151,899	) 	 	 	168,180	 	 	 	21	% 	 	 	15	% 	 	85.6%, 99.2%	 	 	132,702.50	 	 	 	9,000.00	 	 	Work near complete 3/31/18, but may have been under paid 120 +/ illegible, $8,892 in LD’S charged
	 Yes
	 	 	1955	 	 	GDOT-Mill & Resurface Ashley Str (SRT)	 	 	2,479,456	 	 	 	3,602,764	 	 	 	+6,037	 	 	 	1,129,346	 	 	 	46	% 	 	 	15	% 	 	#99.9%, 99.8% #	 	 	2,000.00	 	 	 	8,948.00	 	 	Pending c/o should clear most of $10,948 LD’s
	 Yes
	 	 	1957	 	 	Lowndes Co BOC-Resurf 5 County Rds	 	 	1,424,627	 	 	 	1,985,530	 	 	 	(19,454	) 	 	 	541,448	 	 	 	38	% 	 	 	18	% 	 	92.9%, 93.9%	 	 	108,295.33	 	 	 	130,000.00	 	 	Owner may add additional work, otherwise know work is complete
	 Yes
	 	 	1961	 	 	City of Thomasville-2017 SPLOST/LMIG	 	 	1,115,442	 	 	 	1,567,421	 	 	 	(2,706	) 	 	 	449,273	 	 	 	40	% 	 	 	20	% 	 	99.8%, 100.0%	 	 	2,000.00	 	 	 	100.00	 	 	Waiting on final costs and acceptance, Billed 100% in Apil
	 Yes
	 	 	1963	 	 	Berrien Co BOC-2017 LMIG Resurfacing	 	 	629,144	 	 	 	789,748	 	 	 	(46,944	) 	 	 	113,661	 	 	 	18	% 	 	 	18	% 	 	82.6%, 87.9%	 	 	132,138.69	 	 	 	109,067.23	 	 	Underway, seems to be going well
	 Yes
	 	 	1964	 	 	GDOT-Resurface SR37 B3CBA1701622-0	 	 	11,824	 	 	 	-	 	 	 	+13,243	 	 	 	1,419	 	 	 	12	% 	 	 	12	% 	 	#0.6%, 0.0%#	 	 	2,057,264.36	 	 	 	2,317,469.81	 	 	No field work yet, no changes to bidtime estimate indicated
	 Yes
	 	 	1966	 	 	GDOT-PVMT PRESEVATION-widen SR1 135	 	 	302,949	 	 	 	454,880	 	 	 	+5,002	 	 	 	156,933	 	 	 	52	% 	 	 	20	% 	 	# 91.0%, 90.0%#	 	 	30,000.00	 	 	 	50,542.27	 	 	Billed 90% thru March, punch list work planned for end of April
	 Yes
	 	 	1968	 	 	City of Camilla -paving improvements	 	 	384,578	 	 	 	626,841	 	 	 	(184,420	) 	 	 	57,842	 	 	 	15	% 	 	 	15	% 	 	65.8%, 93.2%	 	 	199,881.52	 	 	 	45,524.53	 	 	Work began March 2018, Underway with no problems revealed, no illigible striping yet, May be complete on 4/30
	 Yes
	 	 	1969	 	 	Tift Co BOC-Windy Hill & Oakridge Ch Rd	 	 	60,064	 	 	 	342,830	 	 	 	(276,786	) 	 	 	5,980	 	 	 	10	% 	 	 	10	% 	 	9.0%, 46.9%	 	 	604,602.87	 	 	 	388,010.08	 	 	Work just began March 2018 , Began final dressing on 4/25
	 Yes
	 	 	1971	 	 	Lowndes Co BOC-Starfford Wright Rd	 	 	1,027,690	 	 	 	1,019,594	 	 	 	+ 100,920	 	 	 	92,824	 	 	 	9	% 	 	 	10	% 	 	# 41.6%, 37.9%#	 	 	1,442,832.00	 	 	 	1,674,073.00	 	 	Billings are still lagging costs, but analysis indicates it will catch up Assume - $40K illigible stored on side.









																																											
	 	 	STATUS per March 31 2018 reports
	 	 	 	 	 	 	 	Note “#” below	 	 	 
	 	 	for the month of	 	STATUS OF JOB TO-DATE	 	 	indicates	 	 	Basis for Percent-Complete Adjustments
	 	 	Mar-18	 	TOTAL	 	 	ACTUAL	 	 	%-COMPLETE	 	 	NET	 	 	% net	 	 	% net	 	 	billing < % compl	 	 	REMAINING	 	 	REMAINING	 	 	 
	 Bonded?
	 	JOB	 	 DESCRIPTION
	 	COST	 	 	BILLING	 	 	ADJUSTMENT	 	 	INCOME	 	 	actual	 	 	Asbid	 	 	% cost, % billed	 	 	COST	 	 	BILLING	 	 	 Notes & Comments

	 Yes
	 	1972	 	GDOT-Pvmt Preserv-SR 90 (MM 0.00 to 6.0)	 	 	2,058	 	 	 	—	 	 	 	+ 2,304	 	 	 	246	 	 	 	12%	 	 	 	12%	 	 	 	# 0.6%, 0.0% #	 	 	 	321,351.01	 	 	 	362,120.83	 	 	No field work yet, no changes to bidtime estimate indicated, may be 100% on 4/30
													
	 Yes
	 	1973	 	GDOT-Pvmt Preserv SR 90 (MM 6.00 to 11.7)	 	 	2,084	 	 	 	—	 	 	 	+ 2,335	 	 	 	251	 	 	 	12%	 	 	 	12%	 	 	 	# 0.6%, 0.0% #	 	 	 	325,205.50	 	 	 	366,705.05	 	 	No field work yet, no changes to bidtime estimate indicated, may be 100% on 4/30
													
	 Yes
	 	1974	 	GDOT-Pvmt Preserv-SR 135 Berrien Lanier	 	 	259,689	 	 	 	361,887	 	 	 	(1,388)	 	 	 	100,810	 	 	 	39%	 	 	 	10%	 	 	 	99.6%, 100.0%	 	 	 	1,000.00	 	 	 	0.00	 	 	Billed 100% in Feb, but has March costs - also waiting on trailing costs, recognized beating estimate -$70K, should be 100% 4/30
													
	 Yes
	 	1975	 	GDOT-PVMT PRESEY-WIDEN SR 135	 	 	218,717	 	 	 	306,149	 	 	 	(1,393)	 	 	 	86,039	 	 	 	39%	 	 	 	10%	 	 	 	99.5%, 100.0%	 	 	 	1,000.00	 	 	 	0.00	 	 	Billed 100% in Feb, but has March costs - also waiting on trailing costs, recognized beating estimate -$60K, should be 100% 4/30
													
	 Yes
	 	1976	 	Grady Co BOC - Gainous Rd widen/resurf	 	 	86,126	 	 	 	124,258	 	 	 	(22,629)	 	 	 	15,503	 	 	 	18%	 	 	 	18%	 	 	 	77.0%, 94.2%	 	 	 	25,673.47	 	 	 	7,665.27	 	 	Work began March 2018, Underway with no problems illigible should be 100% 4/30
													
	 Yes
	 	1977	 	Tift Co BOC-Moore Hwy Improvements	 	 	19,145	 	 	 	37,067	 	 	 	(15,971)	 	 	 	1,952	 	 	 	10%	 	 	 	10%	 	 	 	2.0%, 3.5%	 	 	 	951,660.03	 	 	 	1,032,696.82	 	 	Minimum field work to date, no changes to bidtime estimate indicated
													
	 No
	 	1979	 	Teramore Development-Dollar General	 	 	201,943	 	 	 	296,212	 	 	 	(13,976)	 	 	 	80,293	 	 	 	40%	 	 	 	14%	 	 	 	95.3%, 100.0%	 	 	 	10,000.00	 	 	 	0.00	 	 	Billed 100% for March, but may have trailing costs in April
													
	 Yes
	 	1980	 	City of Illigible- LMIG / Street & drainage	 	 	232,582	 	 	 	303,063	 	 	 	(35,538)	 	 	 	34,943	 	 	 	15%	 	 	 	15%	 	 	 	23.1%, 26.2%	 	 	 	773,920.90	 	 	 	854,657.24	 	 	Underway, starting in March
													
	 Yes
	 	1981	 	GDOT-Pvmt Preservation-Widen SR7(US41)	 	 	10	 	 	 	—	 	 	 	+ 11	 	 	 	1	 	 	 	9%	 	 	 	9%	 	 	 	# 0.0%, 0.0% #	 	 	 	144,018.40	 	 	 	156,944.47	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1983	 	Moultrie Municipal Airport-Pvmt Rehab &T/W Crack Seal	 	 	4,054	 	 	 	—	 	 	 	+ 4,754	 	 	 	700	 	 	 	17%	 	 	 	17%	 	 	 	# 0.7%, 0.0% #	 	 	 	604,888.96	 	 	 	714,040.55	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1984	 	GDOT-Milling & Resurfacing SR38(Hwy84)	 	 	3,750	 	 	 	—	 	 	 	+ 4,199	 	 	 	449	 	 	 	12%	 	 	 	12%	 	 	 	# 0.6%, 0.0% #	 	 	 	651,105.46	 	 	 	733,249.55	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1985	 	City of Ray City-2017 LMIG - Pauline St	 	 	35,105	 	 	 	67,397	 	 	 	(2,762)	 	 	 	29,531	 	 	 	84%	 	 	 	28%	 	 	 	95.9%, 100.0%	 	 	 	1,500.00	 	 	 	0.00	 	 	Near 100% complete thru March, waiting on trailing costs
													
	 No
	 	1986	 	VALDOSTA COUNTRY CLUB-CART PATH RPR	 	 	28,949	 	 	 	—	 	 	 	—	 	 	 	(28,949)	 	 	 	-100%	 	 	 	?	 	 	 	?? No Estimate	 	 	 	7,600.00	 	 	 	0.00	 	 	Will have April costs (at least $6600)
													
	 No
	 	1987	 	City of Lenox - Resurface East Revels St	 	 	5	 	 	 	—	 	 	 	+ 6	 	 	 	1	 	 	 	18%	 	 	 	18%	 	 	 	# 0.0%, 0.0% #	 	 	 	50,533.19	 	 	 	59,758.11	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1988	 	GDOT-Pvmt Preservation widen SR7(US41)	 	 	2,757	 	 	 	—	 	 	 	+ 3,143	 	 	 	386	 	 	 	14%	 	 	 	14%	 	 	 	# 0.6%, 0.0% #	 	 	 	422,983.07	 	 	 	485,335.16	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1989	 	GDOT-Pvtm Preservation widen SR135	 	 	3,486	 	 	 	—	 	 	 	+ 4,009	 	 	 	523	 	 	 	15%	 	 	 	15%	 	 	 	# 0.7%, 0.0%#	 	 	 	528,141.82	 	 	 	611,340.25	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1990	 	City of Nashville-LMIG Resurfacing 10 st	 	 	934	 	 	 	—	 	 	 	+ 1,057	 	 	 	123	 	 	 	13%	 	 	 	13%	 	 	 	# 0.6%, 0.0%#	 	 	 	160,833.17	 	 	 	183,133.13	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1991	 	City of Ashbum- LMIG Resurfacing	 	 	1,009	 	 	 	—	 	 	 	+ 1,184	 	 	 	175	 	 	 	17%	 	 	 	17%	 	 	 	# 0.8%, 0.0%#	 	 	 	129,229.85	 	 	 	152,836.05	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 No
	 	1992	 	LANGDALE POWERSPORTS	 	 	3,697	 	 	 	—	 	 	 	+ 4,137	 	 	 	441	 	 	 	12%	 	 	 	12%	 	 	 	# 0.8%, 0.0%#	 	 	 	478,677.40	 	 	 	539,857.25	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 Yes
	 	1993	 	Thomaas Co BOC-Resuf & widening	 	 	18,761	 	 	 	—	 	 	 	+ 20,631	 	 	 	1,870	 	 	 	10%	 	 	 	10%	 	 	 	# 0.6%, 0.0%#	 	 	 	3,326,484.81	 	 	 	3,678,712.51	 	 	No field work yet, no changes to bidtime estimate indicated
													
	 No
	 	1994	 	Berrein Co BOC-Off System Safety Stripe	 	 	3,505	 	 	 	—	 	 	 	+ 4,380	 	 	 	875	 	 	 	25%	 	 	 	25%	 	 	 	# 27.6%, 0.0%#	 	 	 	9,215.61	 	 	 	15,895.48	 	 	No field work yet, no changes to bidtime estimate indicated


  
 2 of 3 pages 









																																							
	 	 	STATUS per March 31 2018 reports
	 	 	 	 	 	 	Note “#” below	 	 
	 	 	for the month of	 	STATUS OF JOB TO-DATE	 	indicates	 	Basis for Percent-Complete Adjustments
	 	 	Mar-18	 	TOTAL	 	 	ACTUAL	 	 	%-COMPLETE	 	 	NET	 	 	% net	 	 	% net	 	billing < % compl	 	REMAINING	 	 	REMAINING	 	 	 
	 Bonded?
	 	JOB	 	 DESCRIPTION
	 	COST	 	 	BILLING	 	 	ADJUSTMENT	 	 	INCOME	 	 	actual	 	 	Asbid	 	% cost, % billed	 	COST	 	 	BILLING	 	 	 Notes & Comments

	 Yes
	 	1995	 	GDOT-PCCPvmnt Rehab Sidewalk SR 133 Lwds	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	20%	 	0.0%, 0.0%	 	 	383,932.54	 	 	 	460,809.47	 	 	No field work yet, no changes to bidtime estimate indicated
	 Yes
	 	1996	 	GDOT-PCCPvmnt Rehab Sidewalk SR 11 Echols	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	25%	 	0.0%, 0.0%	 	 	502,129.56	 	 	 	627,500.52	 	 	No field work yet, no changes to bidtime estimate indicated
	 No
	 	1997	 	Sub from A&K Realty Jacuzzi	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	26%	 	0.0%, 0.0%	 	 	106,285.32	 	 	 	134,400.00	 	 	No field work yet, no changes to bidtime estimate indicated
	 Yes
	 	1998	 	2018 LMIG Resurf, Lowndes BOC	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	8%	 	0.0%, 0.0%	 	 	1,472,446.13	 	 	 	1,582,919.75	 	 	No field work yet, no changes to bidtime estimate indicated
	 No
	 	1999	 	City of Morwan - 2nd Str Grading & Drain	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	19%	 	0.0%, 0.0%	 	 	47,173.49	 	 	 	55,931.49	 	 	No field work yet, no changes to bidtime estimate indicated
	 Yes
	 	pending	 	Tift Airport Aprn Rehab	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	—  	 	 	 	0	% 	 	22%	 	0.0%, 0.0%	 	 	213,459.23	 	 	 	260,715.10	 	 	No field work yet, no changes to bidtime estimate indicated


  
 3 of 3 pages 








 Schedule 6.03 

Loans and Advances 
 None 







 Schedule 6.05 

Investments 
 None 







 Schedule 6.06 

Debt 
  

							
	 Debtor
	  	 Lender
	  	Approximate Balance
(4/30/2018)	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	$	121,463.08	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	$	138,814.96	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	$	128,718.86	 
	 The Scruggs Company
	  	Caterpillar Financial Services Corporation	  	$	192,047.47	 
	 The Scruggs Company
	  	Caterpillar Financial Services Corporation	  	$	250,838.47	 
	 The Scruggs Company
	  	Paccar	  	$	229,082.79	 
	 The Scruggs Company
	  	GM Financial (2017 Chevrolet Sierra)	  	$	32,089.76	 








 Schedule 6.07 

Liens 
  

							
	 Debtor
	  	 Secured Party
	  	Filing Number	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	 	007-2016-001441	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	 	007-2016-012253	 
	 The Scruggs Company
	  	Komatsu Financial Limited Partnership	  	 	007-2017-019387	 
	 The Scruggs Company
	  	Caterpillar Financial Services Corporation	  	 	067-2017-010094	 
	 The Scruggs Company
	  	Caterpillar Financial Services Corporation	  	 	067-2018-000449	 
	 The Scruggs Company
	  	Paccar	  	 	038-2018-005416	 
	 The Scruggs Company
	  	GM Financial (2017 Chevrolet Sierra)	  	 	N/A                     	 








 Schedule 6.10 

Operating Leases 
 (a) Lease
between Scruggs Company, Baldree Pike Creek Ranch, LLC (“Ranch”), and Renasant Bank, dated December 30, 2016, recorded with the Clerk of the Cook County, Georgia Superior Court as Instrument No. 61, Book 803, Pages 126-134 on January 13, 2017, with Ranch having taken the property subject to the original lease with Baldree Oakridge Farm I, LLC as the original lessor 

(b) Lease between Scruggs Company, David Clint Nettles, and the United States Department of Agriculture, dated May 24, 2017, recorded with
the Clerk of the Berrien County, Georgia Superior Court at Book 883, Pages 18-26 
 (c) Lease between
Scruggs Company and George F. McCranie, IV and Katherine Elnita Davis dated April 18, 2017, recorded with the Clerk of the Superior Court of Berrien County, Georgia at Book 876, Page 263-270 on
April 21, 2017