FIRST AMENDMENT TO
ACQUISITION AND FUNDING AGREEMENT
by and among
CITY OF FONTANA
COMMUNITY FACILITIES DISTRICT NO. 113
(THE GARDENS PHASE TWO)
and
CITY OF FONTANA
and
NORTH FONTANA INVESTMENT COMPANY, LLC
Dated as of October 1, 2026
City of Fontana
Community Facilities District No. 113
(The Gardens Phase Two)
Special Tax Bonds
FIRST AMENDMENT TO
ACQUISITION AND FUNDING AGREEMENT
THIS FIRST AMENDMENT TO ACQUISITION AND FUNDING AGREEMENT (this “First Amendment”), dated as of October 1, 2026, is by and among the CITY OF FONTANA COMMUNITY FACILITIES DISTRICT NO. 113 (THE GARDENS PHASE TWO), a community facilities district organized and existing under the laws of the State of California (the “Community Facilities District”), the CITY OF FONTANA, a general law city organized and existing under the laws of the State of California (the “City”), and NORTH FONTANA INVESTMENT COMPANY, LLC, a limited liability company organized and existing under the laws of the State of Delaware (the “Developer”).
WITNESSETH:
WHEREAS, the Community Facilities District, the City and the Developer previously entered into the Acquisition and Funding Agreement, dated as of May 1, 2024 (the “Original Acquisition Agreement”), pursuant to which, in accordance with the terms set forth therein, the Developer is to construct or cause to be constructed certain public facilities (the “Acquisition Facilities”) that, upon satisfaction of the conditions specified therein, the City is to acquire and take title to, and the Developer is to be paid the purchase price of, determined as set forth therein; WHEREAS, pursuant to the Original Acquisition Agreement, such purchase price with respect to each segment of the Acquisition Facilities is to be paid from the proceeds of the special tax or bonds of the Community Facilities District; WHEREAS, the Original Acquisition Agreement provides that the Original Acquisition Agreement may be amended by an instrument in writing executed and delivered by the Community Facilities District, the City and the Developer; and WHEREAS, the City and the Developer desire to enter into this First Amendment in order to amend and restate in full the list of the Acquisition Facilities set forth in the Original Acquisition Agreement; NOW, THEREFORE, for and in consideration of the mutual promises and covenants contained herein, the receipt of which is hereby acknowledged, the parties hereto agree as follows:
Definitions. Capitalized undefined terms used herein shall have the meanings ascribed thereto in the Original Acquisition Agreement.
Amendment to Exhibit A. Exhibit A of the Original Acquisition Agreement is hereby amended and restated to read in full as set forth in Exhibit A hereto.
Effect of First Amendment. This First Amendment and all of the terms and provisions herein contained shall form part of the Original Acquisition Agreement as fully and with the same effect as if all such terms and provisions had been set forth in the Original Acquisition Agreement. The Original Acquisition Agreement is hereby ratified and confirmed and shall continue in full force and effect in accordance with the terms and provisions thereof, as amended hereby. If there shall be any conflict between the terms of this First Amendment and the terms of the Original Acquisition Agreement (as in effect on the day prior to the effective date of this First Amendment), the terms of this First Amendment shall prevail.
Electronic Signature. Each of the parties hereto agrees that the transaction consisting of this First Amendment may be conducted by electronic means. Each party agrees, and acknowledges that it is such party’s intent, that if such party signs this First Amendment using an electronic signature, it is signing, adopting and accepting this First Amendment and that signing this First Amendment using an electronic signature is the legal equivalent of having placed its handwritten signature on this First Amendment on paper. Each party acknowledges that it is being provided with an electronic or paper copy of this First Amendment in a usable format.
Counterparts. This First Amendment may be executed in counterparts, each of which shall be deemed an original.
Effective Date. Upon the execution and delivery hereof by the parties hereto, this First Amendment shall be effective as of October 13, 2026.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and year first hereinabove written.
CITY OF FONTANA COMMUNITY FACILITIES DISTRICT NO. 113 (THE GARDENS PHASE TWO) By:
Matthew C. Ballantyne,
City Manager of the City of Fontana
CITY OF FONTANA
By:
Matthew C. Ballantyne,
City Manager
NORTH FONTANA INVESTMENT COMPANY, LLC,
a Delaware limited liability company
By:
Bryan T. Goodman,
Authorized Agent
EXHIBIT A
ACQUISITION FACILITIES
Segment/Component
Acquisition Cost
Street Improvements
Sierra Avenue. Approximately 2,640 LF of asphalt paving, sidewalks, streetlights, signage and striping, and related improvements on the west side of Sierra Avenue between Casa Grande to Duncan Canyon Road. $2,002,144
Casa Grande Avenue. Approximately 1,300 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on the north side of Casa Grande Avenue between the westerly boundary of Tr. 20362 and Sierra Avenue. $231,838
Cypress Avenue. Approximately 1,960 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on the east side of Cypress Avenue between the southerly boundary of Tr. 20362 and Duncan Canyon Road. $1,244,144
Duncan Canyon Road. Approximately 2,640 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on the south side of Duncan Canyon Road between Cypress Avenue and Sierra Avenue. $1,263,104
Cassava Drive, Fieldcress Drive, Gardens Street, and Montelena Road. Approximately 5,280 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements for collector streets. $2,472,732
Terra Vista Drive. Approximately 430 LF of asphalt paving, sidewalks, streetlights, signage and striping, landscaping and related improvements on the west side of Sierra Avenue between Grapeland St. to Duncan Canyon Road. $247,652
Sierra Avenue. Approximately 3,150 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on the west side of Sierra Avenue between the Duncan Canyon Rd. and Grapeland St. $2,240,337
Grapeland Ave. Approximately 2,700 LF of asphalt paving, sidewalks, streetlight, signage and striping, including required drainage improvements and other related appurtenances on Grapeland St between Cypress Ave. and Sierra Ave. $1,555,177
Cypress Avenue. Approximately 2,250 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on Cypress between the Duncan Canyon Rd. and Grapeland St. $1,352,435
Duncan Canyon Rd. Approximately 4,850 LF of asphalt paving, sidewalks, streetlight, signage and striping, and related improvements on the north side of Duncan Canyon Rd. between Sierra Ave. and Citrus Ave. $3,981,062
Subtotal
$16,590,625
Sewer Improvements
Cypress Avenue. Approximately 62 LF of sewer main, manholes, and appurtenances within Cypress Avenue between the southerly boundary of Tr. 20362 and Duncan Canyon Road. $240,523
Cassava Drive, Fieldcress Drive, Gardens Street, and Montelena Road. Approximately 4,600 LF of sewer main, manholes, and appurtenances within the collector streets. $1,204,480
Terra Vista. Approximately 514 LF of sewer main, manholes, and related improvements on the west side of Sierra Avenue between Grapeland St. to Duncan Canyon Road. $70,100
Duncan Canyon Rd. Approximately 3,970 LF of sewer main, manholes, and related improvements on the north side of Duncan Canyon Rd. between the Sierra Ave. and Citrus Ave. $601,225
Subtotal
$2,116,328
Storm Drain Improvements
Sierra Avenue. Approximately 2,600 LF of storm drain mainline, laterals, and appurtenances within Sierra Avenue between Casa Grande and Duncan Canyon Road. $2,111,589
Cypress Avenue. Approximately 1,900 LF of storm drain mainline, laterals, and appurtenances within Cypress Avenue between the southerly boundary of Tr. 20362 and Duncan Canyon Road. $1,024,839
Duncan Canyon Road. Approximately 1,020 of storm drain mainline, laterals, and appurtenances within Duncan Canyon Road between Arboretum Avenue and Sierra Avenue. $895,813
Cassava Drive, Fieldcress Drive, Gardens Street, and Montelena Road. Approximately 6,800 LF of storm drain mainline, laterals and appurtenances within the collector streets. $3,524,506
Terra Vista. Appurtenances on Terra Vista west of Sierra Ave. $1,563
Grapeland St. Appurtenances on Grapeland between Sierra Ave. and Cypress Ave $1,563
Cypress Ave. Appurtenances on Cypress Ave between Sierra Ave. and Duncan Canyon Rd. $4,688
Duncan Canyon Rd. Approximately 8,204 LF of various sizing of storm drain mainline, laterals, and appurtenances within Duncan Canyon Rd between Sierra Ave and Citrus Ave. $4,539,381
Subtotal
$12,103,942
Landscape Improvements
Sierra Avenue. Approximately 2,640 LF of plant materials, irrigation, monumentation, and ancillary improvements on the west side of Sierra Avenue between Casa Grande Avenue and Duncan Canyon Road. $2,633,967
Casa Grande Avenue. Approximately 1,300 LF of plant materials, irrigation, monumentation, and ancillary improvements on the north side of Casa Grande Avenue between the westerly boundary of Tr. 20362 and Sierra Avenue. $899,940
Cypress Avenue. Approximately 1,960 LF of plant materials, irrigation, monumentation, and ancillary improvements on the east side of Cypress Avenue between the southerly boundary of Tr. 20362 and Duncan Canyon Road. $1,423,924
Duncan Canyon Road. Approximately 2,640 LF of plant materials, irrigation, monumentation, and ancillary improvements on the south side of Duncan Canyon Road between Cypress Avenue and Sierra Avenue. $1,456,572
Terra Vista. Approximately 21,985 SF of plant materials, irrigation, monumentation, and ancillary improvements on Terra Vista West of Sierra Ave. $329,775
Sierra Avenue. Approximately 59,415 SF of plant materials, irrigation, monumentation, and ancillary improvements on the west side of Sierra Avenue between Grapeland St and Duncan Canyon Road. $891,225
Grapeland St. Approximately 47,100 LF of plant materials, irrigation, monumentation, and ancillary improvements on Grapeland St. between Cypress Ave. and Sierra Ave. $706,500
Cypress Avenue. Approximately 31,897 LF of plant materials, irrigation, monumentation, and ancillary improvements on the west side of Sierra Avenue between Grapeland St. and Duncan Canyon Road. $478,455
Duncan Canyon Rd. Approximately 71,880 LF of plant materials, irrigation, monumentation, and ancillary improvements on the west side of Sierra Avenue between Casa Grande Avenue and Duncan Canyon Road. $1,078,200
Sierra Avenue. Approximately 2,640 LF of plant materials, irrigation, monumentation, and ancillary improvements on the west side of Sierra Avenue between Casa Grande Avenue and Duncan Canyon Road. $39,600
Subtotal
$9,938,158
Traffic Signal Improvements
Casa Grande Avenue and Cypress Traffic Signal including all appurtenances. $584,250
Duncan Canyon Road and Sierra Avenue Traffic Signal including all appurtenance and interconnect systems. $1,310,215
Arboretum Ave. and Duncan Canyon Road Traffic Signal including all appurtenance and interconnect systems. $720,563
Duncan Canyon Road and Cassava Drive Traffic Signal including all appurtenance and interconnect systems. $1,250,000
Subtotal
$3,865,028
Right of Way
Street Right of Way at APN 0239-081-38 (North side of Duncan Canyon Road between Citrus and Cypress Avenues). Property Owner: Southern California Gas Company. $52,074
Street Right of Way at APN 1118-031-01 (Southeast Corner of Duncan Canyon Road and Sierra Avenue). Property Owner: Sat Purkh Jan. $5,000
Street Right of Way at APN 0239-081-23 and 0239-081-24 (Northwest Corner of Duncan Canyon Road and Sierra Avenue). Property Owner: San Gabriel Valley Water Company. $188,387
Subtotal
$245,461
TOTAL:
$44,859,542
OH&S Draft 9/23/2026
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